Collector’s Corner: Buy with caution

By RON SCHMIDT on December 24, 2021.

Another year is almost over and collecting has been somewhat of a strange year. With very little coins being used as change, it is becoming more difficult to find the coin you may be looking for.

There have not been any local Coin and Stamp shows for two years, making it difficult to have a coin in hand to know what it looks like, before you buy. This leaves buying at dealers, or shopping online.

This is where I have to caution everyone when buying online. It is widely known, in some cases, that coins are listed at a much higher grade than it actually is, so they can get a higher price. Unless you are looking at a certified, or professional graded coin, or a picture of a coin with very clear details, I would be very careful. In some cases coins are substituted for a similar ones then shown, so make sure the coin shown is the one shipped. I have also heard of cases where the seller says he shipped the coin but you never receive it. This can be only one of two things, they never shipped it, or it got lost in the mail. You may never know, both happen.

On E-bay, or other sites, I have seen coins that are worth $10 being listed anywhere from $5 to $100. There are people out there that put a ridiculous price on their item and someone who is looking for that item may buy it, not knowing what the coin is actually worth. You may find that coins that are actively in an auction, in most cases, have a more realistic price. If there is a way that someone can scam you, they will try.

I am not saying not to buy anything online, but be careful. It is very important to know what the coin is worth before you purchase it. There are several places that you can find that out. The Charlton Volume 1 is a yearly catalogue and Canadian Coin News is another magazine which comes out every two weeks with updated prices. Both of these can be found at coin dealers or can be purchased at the Medicine Hat Coin and Stamp Club. I am not trying to scare you from buying any coins online, but just asking for you to careful and do research first.

At this time from all the members of the Medicine Hat Coin and Stamp Club, we would like to wish everyone a Merry Christmas and a healthy, happy New Year.

Collector’s Corner is contributed by the Medicine Hat Coin and Stamp Club. For questions or comments about coin or stamp collection email medhatcsc@live.com

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