If you are new to coin collecting this page should help you with a few basic pointers.
At The Coin Collector Groups, we like to promote an environment that is safe to trade in. At first trading with someone may seem slightly daunting, you may be asking yourself questions such as, ‘how do I know I will get my coin?’
Using these few easy steps listed below, you should be able to prevent any bad experiences and in the event that you do have a ‘bad deal’, our admin are on hand for you to contact, so that we can investigate the matter for you.
VALUE YOUR ITEMS FOR SALE OR FOR PURCHASE In order to make use of this method of valuing your items you will need to have access to an Ebay account.
1) Firstly log in to your account 2) Then Type the item or description of the item you are trying to ascertain a value for, in the search bar at the top of the page. 3) When you are happy that your ‘search results’ are finding the item that you wish to value, select the advanced tab to the right of the search and tick sold or completed listings.
The prices items sell for can be quite varied – This method of valuing your items will then show how much the item that you have is generally selling for and or whether it sold at all. I then find it best to look at a few sold prices and work out the average price that they sold for.
For example : £5 , £6 , £9, £4 . The average price would be the total added together (in this case £24) divided by the amount of items that you are looking at (in this case 4) then divide the amount by the items (£24 divided by 4) giving you an average price of £6. You would then need to factor in Ebay charges and Paypal charges if utilised.
BUYING & SELLING Paying for coins is easy, there are a number of ways but one of the most popular ways is to use Paypal.
Secure Paypal As long as you are paying for goods or services, this system is safe and secure and most of the time you will be covered by them for any purchases you make. But be prepared to pay a little extra in Paypal Commission You can work out how much here. If you are unsure of anyone that you intend to deal with this is the best option.
Unsecure Paypal Once you are satisfied that the person you are dealing with is genuine, you may want to lose the commission charge and opt for the friends and family option. This method is not as safe but is the cheaper and preferred option for most collectors.
Bank Transfer Bank transfer is another method commonly used but although you have a record of the payment on your bank statement. You are handing over your money with little comeback in the event of a fraud. If you do not have a Paypal account then this method is also commonly used but if you are not comfortable with anything do not do the deal.
Postal Orders Better and safer than sending cash through the post. Go to your local Post Office to get one.
Cash through the post This is not recommended but people do it. Money is not covered when being sent through the post unless you send via special delivery.
At the end of the day how you prefer to pay or be paid is an important matter that needs to be discussed with the party that you are dealing. Be patient and try to agree on a method that is convenient to both of you. And of course, once you have had one successful trade, the next will be much smoother.
A lot of traders within the coin sites are familiar with one another from other groups, it won’t be long until you are too but in the meantime check out our trader feedback page https://dpgcoins.com/feedback/blog/category/group-member-feedback/ to get a better idea of who you are dealing with.
Inbox/Private Messages It is very important to keep all your messages as you never know when you need to refer back to them in the future.
Packaging Coins Many experienced coin traders will tell you about how many times they have received envelopes that have been ripped or torn either by the sorting process or by rogue parcel sorters or post men. It is not very nice when this happens, so here are a few tips to try and prevent that happening.
1) Do not send loose coins through the post. If they sound like coins or feel like coins then you are leaving yourself open to thievery. Disguise them using simple techniques like placing them between 2 pieces of cardboard and ensure that it is taped down to the inside of the envelope. (DO NOT USE TAPE DIRECTLY ON ANY FACE OF THE COIN). Most of the time, If you are sending a single coin, you will be able to use a standard envelope. You need to ensure that the packing you use is not too thick as it could mean the price difference between a small envelope and a large one. If you are sending more coins than you can lay flat and evenly in a standard envelope, use a padded jiffy bag and or bubble wrap or anything that will disguise what it is you are sending. Personally I prefer to then wrap the entire package in strong tape to avoid any tears or cuts. Check out this page for more details.
2) Make sure you get Proof of Posting. When you post items by recorded or special delivery you will be given a receipt with your tracking number on it. But if you are posting First or Second class you will not automatically get a receipt. You are by law entitled to Proof of Posting, so do not be shy and ask your postmaster for it and they have to oblige. Some of you may ask the question, ‘is it worth sending recorded/special?’ instead ask yourself ‘is it worth losing in the post?’.
Think what will happen if you receive negative feedback from your unhappy coin trading friend? Will others deal with you? ALways obtain a certificate of posting or proof of postage, if the item is worth say, more than £6 – £7 send recorded, & for those expensive or large deals send special delivery. It only takes one dishonest person who notices that you have sent your item without it being recorded to say that they have not received their goods and if you do not have Proof of Postage, you may find yourself having to replace them.
3) Always put a return address on your packaging in case it does not reach its destination. If you do not do this your package could end up sitting in a sorting office somewhere for ever more.
Ultimately, when trading, please use your common sense, Keep your messages, proofs of postage and receipts for your postage costs and stay ahead of the game.