While coin auction sites and coin auctions can polarize the numismatic community, they have an important role in collecting. More often than not, many look at these sites only for the ultra-wealthy collectors to add ultra-rare coins to their collections. But that is not always the case, and great deals can be found on coins. The question becomes, which one is best?
That was exactly James’ question when they sent a message to the Mail Bag a few weeks ago.
Hi,
I’ve been considering looking at coin auction sites and wanted to know which one you thought was best or liked best.
Thanks,
James
I’ll state up front that it is hard to say that there is one site that is “the best.” They all have their positives and negatives. I personally go to GreatCollections for my auction buying. There are a few reasons for this, and, of course, your mileage may vary. First, I find the auction fees and shipping fees at GreatCollections to be better than other sites. Remember that when you buy a coin from an auction, there are usually fees for the seller and the buyer. That’s how sites like GreatCollections make their money. I have no problem with this at all, but it is nice having these fees being small percentages or flat fees.
Secondly, GreatCollections has many coins being auctioned or available for immediate purchase at any given time. This includes many common coins, not just ultra-rare pieces. Here is a great example: Follow this link to a 1963 Jefferson Nickel graded by NGC at MS-64. That is certainly not a rare coin, even in that grade. You can buy that coin straight-up for $12.00 on the site. The book value of the raw coin is $11.00, so effectively, you are paying a $1 premium for the NGC grading. You could not buy this coin and get it graded by NGC or PCGS for less. There are many other examples like this and plenty of coins with starting bids of $1.00.
Finally, I’d like to point out that USCoinNews is not associated with GreatCollections. I am not an affiliate with them and receive no compensation. This means that I have no genuine vested interest in if you use the site. You asked my opinion; that’s what you got here, James.
Thanks for taking the time to write in, and good luck with your next auction purchase!