Art by Linda Parker
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July 2003 Book Review Part Three Continued
 Special *July 2003* Early Addition Of Our Book Review:Indepth Book Review On 2000 North American Coins & Prices:
A Guide To U.S., Canadian and Mexican Coins....
 Collectible Treasures Antique and CollectiblesBook Review July 2003
Interesting Information On Coin Collecting as noted in the 2000 North
American Coins & Prices: A Guide To U.S., Canadian and Mexican
Coins.
Chapter 3:
THE THRILL OF THE HUNT
How to acquire coins for your collection by: Al Doyle
Does that mean all coins sold at real market prices are properly graded?
Don't get complacent; overgraded coins are sometimes sold at full retail.
But not everyone who sells an overgraded coin is intentionally fraudulent.
Grading standards are not carved in stone, which means that one
person's MS-63 can be someone else's Ms-64. Even though most
dealers are extremely knowledgeable about coins, they can be fooled
at times. The altered coin that a dealer bought as problem-free may be passed on to a collector in good faith, with no intention of deceit.
There is one important means of protection for consumers who buy
through the mail: the return policy. Reputable firms allow buyers to
return any unsatisfactory item for a full refund. The time allowed for
returns varies widely from three working days to a month, but seven
to ten days seems to be the most popular policy among mail-order
dealers.
Most dealers list "terms of sale" in their ads. Always look for them
and read them before placing your order.
If you don't like coins received through the mail for any reason, send
them back within the alloted time for a full refund. Companies might
extend the deadline by a day or two if you call and ask for extra time.
What happens if you don't receive a refund or cannot satisfactorily
resolve a problem with a mail-order dealer? There are several options:
The first step is to file a written complaint with the advertising
department of any publication in which the dealer advertises. Include copies of invoices and other documentation. The publication cannot
act on verbal complaints.
Written complaints can also be filed with a local or state chapter of
the Better Business Bureau as well as any hobby-related
organizations (the American Numismatic Association, Professional Numismatists Guild, and so on) in which the dealer holds membership.
If you do business with a reputable dealer, it is unlikely that you will
ever have to endure such a drawn-out complaint process, but be ready
to take the proper steps if necessary.
For those who live in rural areas or prefer to shop at home, buying coins
through the mail can be a rewarding experience and a convenient way to
build a collection.
COIN SHOWS
Dozens of shows are held every weekend across the nation. These
events range from simple one-day shows with 10 to 20 tables to
nationally known events such as the annual American Numismatic Association convention, Florida United Numismatists convention, the
three-times-a-year shows held in Long Beach, Calif., and the Central
States Numismatic Society convention.
Admission to club-sponsored shows is usually free. Commercially sponsored oftentimes charge a small admission fee.
Somewhere between the show at the local VFW hall and Long Beach
are state and regional conventions. Often sponsored by a club, these shows will have 40 to 150 dealer tables as compared to the 400 to 600 tables at a major convention. Tables at local and some regional
conventions are often manned by part-time, or "vest pocket," dealers. Smaller shows tend to feature less expensive items; the largeer shows
will have a greater variety of scarce and expensive coins in addition to
the more affordable pieces.
Major conventions will have a stunning array of merchandise ranging
from coins of ancient Greece to major U.S. rarities. Even if you can't
afford the expensive items, it doesn't cost anything to stroll the aisles
and see some historic coins.
The big-ticket items are just part of the action at regional and major
shows. A large assortment of affordable coins are available, and prices
are often lower than at coin shops.
Dealers buy and sell thousands of coins among themselves at shows,
and new purchases can often be had for a small markup. Good buys
can sometimes be found later in the show when dealers are preparing
to return home. A reasonable offer will often result in a new addition to
your collection.
Speaking of offers, negotiating and dickering are as much a part of coin shows as silver dollars, but be reasonable. Tossing out an offer of $50
on a $200 coin is not shrewd; it's insulting.
If you make an offer on a coin and it is accepted, the coin is yours.
Backing out of a deal is considered bad form. The coin business tends
to be informal, and verbal offers carry serious weight. Your word is your bond on the bourse floor.
Purchases at a coin show do not carry a return policy. Unlike a mail-
order transaction, you have ample opportunity to carefully examine
the coin firsthand before making a financial commitment.
Why attend a show when you can acquire coins through the mail or
from a local shop? There are many reasons to give the show circuit
a try: Conventions are an educational experience. Touring the bourse
floor and talking to dealers and other collectors will increase your knowledge of numismatics, but there are other learning opportunities
as well.
Many shows offer educational forums featuring speakers and
presentations on various topics. These seminars cover everything
from little-known specialties to advice on obtaining the best buys in
a particular area of numismatics.
Exhibits will also add to your knowledge. Most medium-sized and
major shows reserve a section of the bourse for collectors to display
some of their holdings and compete for awards based on the
educational value of their exhibit. The exhibit section offers an excellent opportunity to view something new and different.
You might be motivated to put together an exhibit yourself after a visit
to a show. Keep in mind that it does not require a major collection to
create a decent exhibit. Some of the most interesting displays
incorporate low-priced coins and other collectibles.
Shows are excellent places to search for key-date coins and other
material that may not be in stock at your local shop. Dealers do much
of their shopping at shows, which should tell you something about the opportunities at a good-sized convention.
Want to introduce a friend or relative to coin collecting? Take them to
a show and let them look around. Chances are excellent that the newcomer will become a fellow collector.
Looking for something different to collect? Paper money, world coins, tokens, medals, and medieval coins are often found at shows. You
could find a new area of interest, and shows provide collectors with a chance to meet dealers and well-known hobbyists from across the
country.
Have a game plan when you attend a show. Decide beforehand what
you want to buy and how much money you plan to spend. Buying
whatever looks nice will soon deplete your funds.
Click HERE TO GO TO Part Four of July 2003 Book Review
of July 2003 Book Review
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