Of course not. Just as in any other market, you get what you pay for—and buying silver or gold coins in Texas is no exception.
It’s very rare to “hit a home run” when buying rare coins online. Newcomers are often hoping to procure an undervalued item and sell it for a big payday, but dealers often know exactly what they have in stock—and what their inventory is worth.
This isn’t to say you can’t make a profit from buying and selling rare coins online. The best way to invest in a rare or semi-rare coin collection is to treat it like a commodity: pay a fair price for properly graded coins and sell them when the market price is high. The problem is, many coins are improperly graded, leaving the investor to wonder if he will have to settle for less when it comes time to sell his collection.
Here are some basic steps to take before investing in coins online:
- Do your homework. Study and compare coin prices across several merchants before making your decision.
- Recognize that cheaper is not always better. If there are two identical coins for two different prices, they are likely far from identical. Always get the opinion of a certified grader before making your purchase.
- Check the buy-back policy. Always ask a dealer at what price he would buy his coin back—and get it in writing.
- Get a grading guarantee. If the dealer does not offer a guarantee on his product, you may want to ask the opinion of another certified coin grader before making a purchase.
If you have any more questions, call us at (877) 795-9585 or fill out the quick contact form on this page for advice from a trusted Texas metal dealer.