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Tips on How to Avoid Fraud on Collectible Coins

Many people enjoy shopping online where there are great buys of coins that can be found. A person may prefer do his shopping while he is at home because it is convenient and time-saving instead of going out looking for stores that sell collectible coins and other souvenirs.

A person can differentiate between a live auction and an Internet because an online auction can take several days to complete. They entertain bids for the highest price up until the time the auction is about to close.. Many people that are bidding online enjoy the experience and they may be familiar with the strategies to use to win an online auction.

There are also online sites where a person can buy any item that may capture his interest. This is where most coin collectors purchase their desired coins. By searching and finding the item that they want, they can actually negotiate and make the payments through the Internet. This can be very risky as you are dealer/seller that is unknown to the buyer, yet many people are still making transactions and payments through this kind of online auction.

Fraud is common even though many Internet sites that do business online contend that the risk of fraud is not something to worry about. They contend that only 0.0025 percent of true cases of fraud occur with online transactions - that means only one out of 40,000 listed Internet transactions would be fraudulent. On the other hand, the FBI has their own investigations, which prove that those figures are not true- they contend that the risk of fraud is much higher according to their statistics.

A person should believe the FBI for his own protection. Even if one can say that the majority of online coin selling transactions are honest and credible, the process used to make the transaction most probably is questionable and uncertain. There are business transactions, which are intentionally committing fraud with their clients and buyers. Aside from flea-market dealers, mail-order sellers, in-person auctions and some coin stores, the Internet has introduced the crime of fraud to many people in the easiest way possible.

One protection that a coin buyer should know is how to get “feedback”; that way, a person can see the ratings other bidders give the seller and he may compare his transaction with the transaction of the others. Since there is a great risk of fraud where there is negative feedback, the person may withdraw his participation from the auction if he deems that to be necessary.

A person may also acquire ideas by looking for those members who have left “positive feedback” and compare it to the reaction of the sellers. A person can make an assessment of what could be possible useful information from those reactions. Be careful and precise about any transaction that is offered by the seller.

There are instances where a person is deceived about the item he purchased. The photo shown on the Internet displayed the coin that a person wants to have but they delivered a totally different item. These cases are fraud. A person must make sure that the item he saw on the photo is the exact item that will be delivered to him. Here are some tips that will help a person prevent fraud during a coin search in the Internet.

1. A person should save the online photo of the coin he wants to purchase. Many sellers remove the image and the title of the item once a purchase has been made.

2. A person should get the description and the auction information. It should either be e-mailed to the buyer or sent in writing by mail.

3. If there are suspicions regarding an auction, a person should ask for clarification from to the seller. This will avoid misunderstandings and confusion on the part of the buyer.

4. A person has the right to refuse any transaction where he thinks the price given on the coin is too high. One should be aware of the standard price of the specific coin and compare it to the price that was given during the online transaction.

5. A person can ensure that there will be no fraud by asking the seller, before the auction closes, if there is any available escrow assistance for the bidder.

These are only a few tips that will ensure a person of his safety when making any transactions online. Fraud can happen to anyone, especially those who are interested in purchasing collectible coins online. It is always important to be informed and knowledgeable about the possibilities of encountering fraud.


How to Take Care of Collectible Coins

There are collectors that specifically find classic editions of coins that existed during the period from 1892 to 1954. These coins have marked events or may signify the work of royalty during that period. There are those collectors that prefer the modern series that are very distinct as well. One modern collection is that of the quarter dollars that represent the 50 states of the US. Minting and circulation started in 1999 and will continue until 2008. These are specially made editions available for collectors.

Many collectible coins are made of copper and a collector may encounter problems in maintaining their features and appearance. A person collecting this type of coin should learn how to maintain and take proper care of these expensive collections. Copper coins should be cleaned correctly and must be preserved the same way professional collectors treat their coins.

Professional collectors clean their coins by the process of placing the coins in a container that is airtight. This is a safe way to preserve the features of the coins. Because of the coins’ years of circulation, there is the possibility of a coin accumulating encrustations, coatings, dirt, and other problems on a coin’s face. These accumulations may cause pitting and corrosion to the surface of the copper coin. The corroded portions should be removed properly without making any scratches.

There are products available that are made especially for coin cleaning. Coin suppliers have these products that are specifically made for coin maintenance and cleaning in stock. One product made for this purpose is MS70 which removes corrosion and other surface dirt. It is advisable to use rubber gloves for the protection of your hands, as MS70 can dry the skin but this should be of little concern because it is not that harsh on the skin. A soft toothbrush may help with cleaning and removing any dirt that is in the surface of the coin. Improvement in the appearance of the coin will be seen after it has been soaked and cleaned. If satisfaction is not met on the cleanliness and appearance of the coin, he may add baking soda to neutralize the MS70 and soak it in warm water.

After he is through with the soaking, he may dry the coin using a Blue Ribbon coin cleaner and preservative; he may apply a coat and dry it for a couple of days then wipe the damp parts with soft cotton balls and place it on a small cardboard with a space on the center.

If he finds discoloring on the coin, he may use Dellars Darkener after he has soaked it in MS70. He may use this product before he applies the Blue Ribbon cleaner and preservative until he is satisfied with the cleanliness of his coin. Once satisfied with the new appearance of the coin, he may again return it to its set or collection
The next step would be maintenance and preservation the collection. Here are some tips on how to take care of coin collections:

1. The coin should be protected from exposure to any kind of elements. It is also important not to scratch the coins; they should be handled with care to avoid scratches on the surface of the coins.

2. It is safe to store the coins in plastic cases or pockets that are made specifically for coin collections and sets. These cases and pockets can protect the coins from dirt and scratches.

3. Coins should be cleaned properly using vinegar, lemon juice, ammonia or rubbing alcohol.

4. If there is unwanted dirt that is hard to remove on the surface, chemical products for cleaning like Tarnex may be used. This option may be used if vinegar and lemon juice were not able to remove the dirt.

5. It is very important to remember that the value of the coin may depreciate if the coin has been cleaned. It is recommended to seek the advice of an expert on other ways of preserving a coin

Many coin collectors believe that a person should never ever clean their collection because they believe that any product that is applied to the coin will affect the surface. A person should know how to preserve their collection and avoid dirt from touching the coins.


How To Find Collectibles Online

Buying collectibles online makes it easy to find what you are looking for no matter what that happens to be. There are zillions of different kinds of great items to buy for yourself or for others and only one place to buy them all and that is the internet. This is the only way to save money and get just what you need to make someone’s face light up.

There are many different shops that you can buy collectibles at online. There are the auction sites, which are great for find...

collectibles, collector

Buying collectibles online makes it easy to find what you are looking for no matter what that happens to be. There are zillions of different kinds of great items to buy for yourself or for others and only one place to buy them all and that is the internet. This is the only way to save money and get just what you need to make someone’s face light up.

There are many different shops that you can buy collectibles at online. There are the auction sites, which are great for finding truly hard to find items and antiques, and then there are all of the other online retail shops. No matter what kind of choice you make you are sure to get just what you have been looking for over the years.

Is there something that you have always dreamed of owning? A particular antique maybe, a clock or a special spoon or figurine? We all have some kind of collectible that we keep an eye out for and online auctions are truly one of the best places to find these types of things. You will be able to find so many great items on these sties and for a fraction of the price that you would be charged in d=store for them. At auction sites you set the price that you want to pay, you will never have to pay more than you have. If the bidding gets to high then you don’t have to keep raising your price.

Any of the online options are going to be better than the offline ones because of the selection and the convenience. You can compare the prices at hundreds of online stores in the time it would take you to drive to one in person. Shopping for collectibles on the internet is the only way to save tons of cash while still getting only the best collectibles to be had.


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