Don’t Make My Mistake: A Costly Lesson in Coin Collecting Vigilance
July 1, 2025Showcasing My Exonumia Collection: Tokens, Medals, and Hidden Gems
July 1, 2025After decades of coin collecting, my Florida adventures with ancient rarities taught me tough lessons about scams and why trust matters more than anything. It began when I spotted an online dealer offering an Ex-Lutine coin with its original 1938 box and COA for just $200 – including free shipping to the UK. My heart skipped a beat at the “deal,” but my collector’s instinct screamed trouble. You know that feeling when something seems too good to be true? That close call sent me down a rabbit hole of discovery, and I’m sharing what I learned to help you dodge similar traps.
The Red Flags I Spotted with Suspicious Sites
Digging into that shady website, ancientrarecoins.com, revealed several glaring warnings. At first glance it looked professional, but I discovered they’d stolen the street address of a legitimate dealer – Gables Coin & Stamp Shop. When I called the real shop, they confirmed they’d never heard of these guys. Other alarm bells: no actual staff names anywhere, a fishy phone number that looked like a typo (+177228228195?), and broken links in their payment section. This taught me to always check sites thoroughly: spot inconsistencies, verify addresses with local businesses, and run WHOIS checks. This one was registered recently through Wix and expires in 2026 – classic fly-by-night operation signs.
Why Trust is Everything in Numismatics
My buying approach has changed over the years – now I either inspect coins personally or deal only with dealers I’d trust with my collection. I remember one favorite seller who earned that trust by shipping me coins on open invoice. No upfront payment, just a handshake agreement that I could return anything or mail a check later. That mutual respect paid off beautifully when I sent 50-60 of those coins to CAC for grading – over 80% got green or gold beans! That’s the magic of real relationships in our hobby: they turn transactions into partnerships where nobody gets burned by fakes or inflated prices.
Practical Tips for Safe and Savvy Collecting
Here’s what I’ve learned to keep your collecting journey secure and rewarding:
- Stick to reputable sources: I only buy from established dealers with proven track records (ANA members are usually safe bets), and steer clear of unknown online shops peddling “rare” coins at suspiciously low prices.
- Verify everything: Cross-check addresses, phone numbers, and inventory listings. If a site uses stolen images or has dead links, run – it’s textbook scam behavior.
- Be cautious with online platforms: Even on eBay where I’ve found gems from clueless sellers, I stay vigilant. Watch for reasonable shipping costs and solid ratings, but remember – no platform is 100% safe.
- Prioritize in-person inspections: Handle coins yourself whenever possible. For online buys, demand detailed photos and clear return policies.
Staying alert has saved my collection more times than I can count, and sharing these lessons helps us build a more honest collecting community. Happy hunting – may your finds be genuine and your deals fair!