Where to buy graded coins.

I am trying to obtain a few graded coins for my father as he has retired for the third and likely final time in his life this year.

I have attempted to purchase the coins I want from APMEX with bad results. I never purchase graded coins for myself and until now I have never purchased a graded coin at all. I have never bought coins online from anyone except actual mints of the USA, Canada, Austria and Australia.

Both coins I recently purchased from APMEX were MS69 graded by PCGS. Both coins had very obvious stains, deep gouges and scratches. I could see the damage before I even finished unwrapping the coins. These coins should never have been accepted by APMEX from PCGS and APMEX should never have shipped them to any customer.

I reported the damage to APMEX who issued a return number and they replaced the coins. One of the replacements has a very tiny stain that can only be seen with a 10X loupe. I will keep this coin but doubt that it can be a MS69 with such a stain. Other than that the coin is perfect. The other replacement has an obvious naked eye stain on the obverse and the reverse looks as though it was placed face down on a sidewalk, stood on and drug for a short distance. Stevie freaking Wonder could see the damage!

I will be returning the second coin for a full refund and I will never give them my business again. Which online dealers do you all trust? Who can I reliably purchase undamaged, graded coins from?

Bill

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Permalink Reply by Buffalo on July 16, 2011 at 12:48am

Bill, these are all dealers where I have either done business or know something about the owner or have seen good feedback about them from other people that I trust. It is not a complete list by any means so nothing bad implied to any other dealer not listed here. You didn't mention if you are looking for any particular coins or series but maybe these will be a start. Even with graded coins and good dealers its a good idea to see good photos or ask questions before buying. High volume dealers or ones who are selling quantities of the same issue in the same grade might not look at each individual coin that carefully.

Albanese Rare Coins
David Hall Rare Coins
David Lawrence
Doug Winter Numismatics
Eagle Eye Rare Coins
Fred Weinberg (Error Coins and Currency)
Gainsville Coins
HCC Rare Coin
J.J. Teaparty
Julian Leidman Coin
Legend Numismatics
Mark Feld Coins
The Penny Lady
US Rare Coin Investments
Wayne Herndon
Wondercoins

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Permalink Reply by Bruce Wiseley on July 16, 2011 at 5:32am

Hey Bill, believe it or not, I've actually bought some real beauties on E-Bay. Of course, as with anything on the Bay, do your due dilligence (sp), but when I had a problem a few years ago, and because of the policies of using Pay Pal, the refund was quick in coming. These were all NGC graded coins. I bought the 2006 3 coin set on the Bay for under $300, all MS 69, and PR69, and they're beautiful. I also have bought from a few of the dealers Buffalo listed, and agree, the good dealers are out there. The only items I've purchased from AMPEX was Bullion, and they can't really screw that up! Good luck, and I wish my kids would buy me a few coins, instead of the other way around, lol!

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Permalink Reply by Buffalo on July 16, 2011 at 10:50am

I have also done many transactions oneBay as both a buyer and a seller with no worse problems that a few shipping delays and plain old human error. I did have a couple attempts at scams involving trying to sell me coins someone didn't actually own but they were so amateurish they were comical. I take the time to check out sellers the best I can, rarely buy any non-bullion items from sellers who don't offer returns, and if something just doesn't look or feel right I'll pass. Toolhaus is a good resource to check out someone's history.