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Foreign Coins
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To Order Call
1-888-637-6388
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Mid May - Issue . 2012,
"Monopoly"
Hi to all fellow numismatits! I hope this note finds everyone doing great and having lots of luck finding the coin of your dreams. I would like to discuss the state of the Coin Business; both buying and selling coins in this "AGE OF CYBER SPACE". Almost every bit of knowledge is obtainable online, EXCEPT the single most important factor, in my estimation, is the actual "hands on approach", especially where Quality and Beauty are concerned. With coins, it can be so easy to doctor up the looks of them with a number of programs loaded on your hard drive. I like to call this CYBER DOCTORING; "to present something that may be 'iffy', as a stunning, eye popping Gem".
Now, to the untrained collector, this may sway them to spend money that is way out of line because of the so-called "Superior eye appeal". In today's world of coin collecting, there is no reason why someone should get bilked out of their hard earned money, but it does happen every day. You may think auctions are the tell all, fail proof way to buy coins. True, it is a good approach, but to completely trust a picture or description is foolhardy, to say the least. Auction companies have a tremendous overhead to overcome, and in my humble opinion, the sale is all they care about. They can tend to forget about the personal approach and any long term relationship. The biggest Auction houses are striving to take over the entire coin industry. To become the "be all to everyone who collects". We should all know what happens when a company becomes the major factor in any business; "ITS CALLED A MONOPOLY". And we know what happens when any entity achieves that status. It is usually not a good thing! Now don't get me wrong, I'm not saying you should rely auctions for your buying, but rather that you should always have a trusted coin dealer advising you, someone with lots of experience and a good track record. When you buy a coin in an auction, don't forget that INDEED YOU ARE PAYING THE 15% commission in the price of the coin. It is not the seller, as there are deals cut to big consigners for an extra percentage, or no buy back fees and other perks.
I am not insinuating that anything is wrong or illegal with that practice, but what I am saying is that you, as the consumer, are the ultimate payee of any fees, buy backs, etc.. So, in other words I'm saying, don't just look to one source, ie: via the auction venue. I have been studying the facts for several years, and find that collectors are paying above average prices for better coins in the auction venues. I don't know about you, but in this day and age of extreme financial difficulties for so many Americans, I believe that you should take the time to get the FACTS and spend your money wisely. Don't ever depend on any one entity to supply all of your needs. No matter what the product, some day when "the big guys" have eliminated all of the competition, you will suffer the ultimate price. Think about it for a while and feel free to e-mail me your thoughts and feelings about this subject. I'm open to any and all ideas and criticism if you feel compelled to criticize. Keep looking for more in the the near future from Albanese Rare Coins, Inc.
Our Warmest Regards,
The Staff of Albanese Rare Coins
(Upcoming Shows Link) If there are any last minute “wants” please let us know. Keep an eye for the “market insight” after the show for an in depth write up on how the market is doing and where it’s going.
Our very best to you,
Bonnie Sabel Bonnie@coinace.com
Monthly Insight Archive
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