Should coins be cleaned or polished?
Rule #1: Collectible coins should never be cleaned or polished!
This includes silver polish or dip, polishing cloths or machine polishing
Collectible coins are defined as coins in demand which are rare and hard to find. Usually collectible coins are from times gone by or might be minted today in limited quantities to commemorate an event or honor a person.
Rule #2: Always research the coins resale value!
This means finding out how much the coin you are going to invest in will bring on the second-hand market and who wants to buy it for how much!
Although eBay is a good place to research sold prices, you will not find all your prices on eBay as many expensive coins will not be offered on eBay. You can also refer various auction house results. For example, Heritage auctions Christies, Sotheby’s. Remember eBay and auction houses change a seller’s commission, so the price listed as sold might or might not include the buyers commission.
I subscribe to the Coin Dealer Grey Sheet, which is published monthly. The CDN lists current market prices. National Estate refers to the CDN for pricing when buying and selling.
Never use the Red or Blue coin pricing books as they are published once a year. Precious metal prices continually change as do market trends.
Rule #3: Always purchase the highest-grade coins you can afford.
And purchase them certified buy one of the 2 most reputable grading services. NGC (Numismatic Guaranty Company) or PCGS (Professional Coin Grading Service). Remember to only purchase from reputable coin dealers or auction houses as even these coin certifications can be counterfeited.
Rule #4: Don’t expect to make money on your investment quickly.
It takes time for the demand to create a profit, which is never guaranteed. Profit will be created when either the precious metal price goes up or there is a positive trend causing the price to go up.
Rule #5: Never invest more than you can afford!
Investing is sort of educated gambling. Life Rule…live on 90% of your income. Save 10%.
Remember…Tuesdays are free evaluation days!
National Estate Jewelry Buyers is located on route 18 next to FedEx office
732 257-GOLD or on the web at toppricesforGold.com