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A Little Piece of History: 5 Reasons Collecting Old World Coins is Great

The exciting thing about collecting world coins from a time long gone is the possibilities they hold. The little coins in your collection have seen events you can only dream of. Here are five reasons you should collect ancient coins from around the world.

  1. Someone great may have touched the same coin. If your coin is from Ancient Greece, Socrates or Plato might have used it.
  2. Every coin tells a story. By researching what was going on in a country when the coin was minted, you can almost experience history! While someone paid for a newspaper in France in the early 1800s, Napoleon was busy nearby with his Napoleonic Wars.
  3. Ancient coins are more affordable than you think. Just because they’re old doesn’t mean they cost an arm and a leg. According to a website called Getting Started with Ancient Coins, an “1,800-year-old Roman coin in extra fine condition typically costs just $25.”
  4. You’ll be one of a kind. It’s a lot easier to collect modern coins than ancient coins. That means the market is less crowded, and you will have an easier time finding coins to add to your collection!
  5. The Internet makes it easy. With a world of information at your fingertips, you have no excuse not to get started collecting ancient coins from around the world right now!

Avoiding the “Graded Coin Value” Scam

Buying coins on eBay is a double-edged sword. On one hand, you have the opportunity to find some rare and valuable gold coins for sale for a fraction of what they’re worth. On the other, fraud is prevalent, and sometimes it’s too late before you find out you’ve been scammed. One of the most popular scams on online coin auctions host is the “graded coin value” scam.

Coins are “graded” by a third party grading service, which rates the coin at a higher grade than it actually deserves. The seller will link to a viable grading service like PCGS (Professional Coin Grading Service) to reinforce the value of the coin. The coin is then sold at a “discount.” For instance, if the third party grader ranked the coin at a grade worth $8,000, and the seller has the gold coin listed for $300, what a bargain! Not so.

The problem is, anyone can be a third-tier grading service. All you really have to be able to do to qualify is slab a coin (read: put it in a plastic holder. Doesn’t require much skill). It is possible that third-tier grading services exist solely to upgrade coins specifically for this type of fraud. They get their money, the seller gets his, and everyone (except you) is happy.

Third tier services are known to be unreliable. To be safe, only buy from sellers who use the following grading services:

  • Top Tier (such as PCGS and NGC)
  • Second Tier (such as ANACS and ICG)