Jeff is a senior editor and was Coin World's 2003 Margo Russell intern and joined the staff in 2004. Jeff has been a collector since childhood and fondly remembers the challenges of completing Whitman folders by pulling coins from circulation and searching rolls from the bank. His current collecting interest focuses on Missouri-related numismatics and exonumia. He is the primary writer for the World Coins section in the monthly Special Edition and is responsible for Coin World's coverage of world coins and weekly International page. He graduated with a bachelor of arts degree from Webster University in St. Louis where he was editor-in-chief of its weekly student newspaper.Visit one of our other blogs:
How to make money buying world coins
If you want to be a shark when it comes to buying coins, knowledge goes a long way. Capitalizing on others' lack of knowledge or interest in some series opens the door to deals.
Every coin buyer wants to find value. It is human nature to seek the best deal and the question of “what’s it worth?” is a natural, common phrase when collectors gather together.
Another Ohio dealer purchased world silver bullion coins from retail customers and then sold them as generic 1-ounce rounds, which carry tighter premium spreads above precious metal value than most bullion coins. In this case, the 2015 silver 1-ounce $5 coins from Tokelau showing the Great White Shark were considered generic, when a major bullion dealer was selling them for $2 each more than generic rounds.
With thousands of dollars tied up in the bin bound for melting, he just wanted to move what he could for his marginal percentage, and have funds with which to make more purchases.
At the same time, there are hundreds of dealers hosting their own auctions, and thousands of daily auctions at sites like eBay. A fool would think they could access all those options and act with timeliness to secure bargains.
These are just some of the ways that buyers can obtain value.