It is a simple question, but it can have serious repercussions on your investments and your future. The question is “why should I buy certified coins?” People who have been collecting coins, either for investment or for a hobby, for many years, could answer this question quite quickly. However, if you are new to collecting, you may not understand the importance. In order to help you avoid mistakes when you purchase, here is what you need to know.
Let us start by taking you through the process of purchasing a coin. You take the time to research and study options. After all, there is a process to just finding the right addition each time you will be making a purchase. After you have decided on the one that you want to add to your collection, you will contact your coin dealer. At that time, you will be provided with a price. If you decide you want to make the purchase, you will pay the cost, and the coin will be provided to you. This all sounds quite simple, right?
Now, let us break down the two different things that can happen depending on the coin’s certification, or lack thereof.
If you choose to purchase one that is not certified, this is what could happen. The dealer will be able to charge whatever price they see fit, and the less reputable ones may only be out to make money. In addition, without proper certification, you cannot be certain that the dealer is being honest about the grade of the coin. You may be expecting the coin to be in good condition only to receive it and find that you were not told the truth.
If you choose to purchase a certified option, the path will be quite different. When the coins go through certification, a third party company inspects it, determines its fair market value and sets a grade on it. When this is done, the dealer will then offer the coin for the correct value. When you make the purchase, you will know that the advertised grade and value is correct.
As you can see, you could follow two very different paths that could have a great impact on your collection, your investment, and your future. By choosing certified coins, you will know you are getting the best item, and you will be adding a great deal of value to your collection.