Quick summary
- Research recent sale prices for the same coin in the same grade before you buy.
- Reputable dealers, coin shows and established auction houses are good places to start.
- Auction prices usually include a buyer’s premium on top of the hammer price.
- Clear return policies and paying by credit card give you more protection.
- Be wary of high-pressure pitches that present coins as can’t-lose investments.
Buying coins should be enjoyable, not stressful. The key is knowing what a coin is worth before you spend money on it.
Research prices first
- Use recent sale prices, not asking prices. Auction archives and completed online listings show what coins actually sold for.
- Compare like with like: the same date, mint mark and grade. A small difference in grade can mean a big difference in price.
- Learn grading basics; see our guide to coin grading.
Where to buy
- Local coin shops: you can see coins in person and build a relationship.
- Coin shows: many dealers in one place, with plenty of chances to compare.
- Auction houses: wide selection, but remember the buyer’s premium, an extra percentage added to the winning bid.
- Online marketplaces: convenient, but check the seller’s history and return policy carefully.
Be careful
Be wary of anyone who presents coins as a guaranteed investment, pressures you to buy quickly or offers “rare” coins far below market prices. U.S. regulators warn that precious metals and collectibles are common vehicles for investment fraud.
Protect yourself
- Pay with a credit card or a method with buyer protection, especially online.
- Get a receipt with a clear description of each coin.
- Know the return policy before you buy.
- Check certified coins: look up the certification number on the grading service’s website; see our guide to spotting counterfeit coins.
Bullion versus collector coins
Bullion coins are bought for their metal and trade close to the metal price plus a premium. Collector coins can be worth far more than their metal, but their prices depend on demand, rarity and condition, and can fall as well as rise.
Buy what you enjoy
Collect coins you find interesting, within a budget you’re comfortable with. If you ever decide to sell, our guide to selling a coin collection explains your options.
Collector questions
How do I find a reputable dealer?
Look for established dealers with clear return policies, good reviews and membership in professional organizations with codes of ethics. Ask other collectors for recommendations.
What’s the difference between bullion and collector coins?
Bullion coins trade mainly on their metal content. Collector coins are valued for rarity and condition, and can carry large premiums over metal value.
Are coins sold on TV a good deal?
Often they’re sold at prices well above what dealers would pay to buy them back. Compare prices with other sources before buying.
Should I buy raw or certified coins?
For inexpensive coins, raw coins are fine. For valuable coins, certified coins from major grading services reduce the risk of fakes and overgrading.
Coin values change with demand, condition and metal prices. This guide is general information, not an appraisal or investment advice.
