Coin & currency collecting has seen a significant evolution in recent years. As we navigate through 2023, the coin market is more dynamic than ever, offering collectors a blend of traditional and digital platforms to explore, all while the world of coin and currency collecting grows in value. It’s no surprise that coins featured highly in my 2024 best investments rundown.
Key stat: The Global Numismatic Market was valued at $8.8 billion in 2022 and is projected to grow to $17.3 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period of 2023-2029.
In short, it’s a good time to get into the hobby. But whether you’re a seasoned numismatist or a budding enthusiast, choosing the right platform can make all the difference in your collecting journey.
In this guide, we’ll delve into the best places to buy coins this year and beyond. I personally buy my collections from these places, and I’ve added videos for each of the places I recommend.
The Timeless Appeal of In-Person Buying
While the digital age has brought convenience to our fingertips, there’s an undeniable charm in the tactile experience of in-person coin and currency buying. Feeling the weight of a coin, examining its details up close, and engaging in face-to-face negotiations are experiences that online platforms simply can’t replicate. Let’s delve into the traditional avenues of coin buying:
Coin Shows and Expositions
Coin shows offer a carnival-like atmosphere for numismatists. These events are a treasure trove of rare and unique coins and currency, often bringing together dealers and collectors from around the world.
- Physical Examination: The ability to touch, feel, and closely inspect coins before making a purchase.
- Networking: Engage with fellow enthusiasts, share stories, and gain insights.
- Seminars & Workshops: Many shows offer educational sessions, enhancing your knowledge about the world of coins.
- Exclusive Access: Some coins, especially rare ones, are exclusively available at these events.
- Variety: Dozens of vendors and collections all in one place.
- Geographical Limitations: Shows might not always be accessible depending on your location.
- Entry Fees: Some events charge an entrance fee, adding to the cost of your purchases.
- Overwhelming Choices: The vast number of options can be daunting, especially for newcomers.
Local Coin Dealers and Shops
Local coin shops have been the backbone of the coin collecting community for decades. These establishments offer a personal touch, often building long-term relationships with their customers.
Personalized Service: Dealers often provide tailored recommendations based on your interests and budget.
Immediate Transactions: No waiting for shipping or dealing with online payments.
Trust & Authenticity: Building a relationship with a local dealer can ensure genuine products and fair prices.
Negotiation: Face-to-face interactions allow for price negotiations, potentially snagging better deals.
Limited Selection: Stock is often limited to the dealer’s current inventory.
Higher Prices: Overhead costs of a physical store might lead to slightly higher prices compared to online platforms.
Varied Expertise: Not all dealers have expertise in every coin type, so research is essential.
While online platforms offer unparalleled convenience, there’s an irreplaceable allure to in-person coin buying. Whether you’re a digital native or a traditionalist at heart, the world of coin collecting in 2023 offers the best of both worlds.
Embracing the Digital Age: Online Marketplaces for coins & currency
The digital revolution has left no stone unturned, and the realm of coin collecting is no exception.
Online marketplaces have transformed the way collectors buy, sell, and interact with one another. These platforms offer unparalleled convenience, a vast selection, and often, better prices. Let’s explore why online shopping for coins has become the go-to for many:
Online platforms provide access to coins from around the world, from ancient artifacts to modern limited editions. Whether you’re looking for a rare Roman coin or the latest minted commemorative piece, online marketplaces have got you covered.
Gone are the days of traveling to coin shows or visiting multiple dealers. With a few clicks, you can browse, compare, and purchase coins from the comfort of your home.
Research & Information
Many online platforms, including our very own [thesilverpicker.com](https://thesilverpicker.com/), offer detailed information, history, and insights about each coin, aiding informed decisions.
Reputed platforms have robust security measures in place, ensuring that your transactions are safe and your personal information is protected.
As we can see, while traditional methods have their charm, online platforms offer a plethora of advantages, especially in today’s digital age.
Online Marketplaces vs. Traditional In-Person Buying
In the age of digitalization, coin collectors are presented with a pivotal choice: the vast, convenient world of online marketplaces or the tactile, personal experience of traditional in-person buying. Each avenue offers its unique set of advantages and challenges:
|Criteria||Online Marketplaces||Traditional In-Person Buying|
|Accessibility||Global selection available at your fingertips.||Restricted to local availability or specific events.|
|Convenience||Shop anytime, anywhere. No need to travel or adhere to store hours.||Requires travel, adherence to store hours, and potentially dealing with crowds.|
|Experience||Digital browsing with detailed listings and user reviews.||Tactile experience with the ability to physically inspect coins.|
|Relationship Building||Primarily transactional, though some platforms offer direct seller interaction.||Direct interaction allows for long-term relationships with dealers.|
|Pricing & Negotiation||Competitive pricing with the ability to compare across sellers. Limited negotiation.||Prices might be higher, but face-to-face interactions can lead to negotiations.|
|Trust & Authenticity||High potential for scams or counterfeits. Requires diligent research and verification.||Trust built over time with known dealers. Immediate authenticity checks.|
|Immediate Gratification||Waiting time for shipping and delivery.||Immediate possession of the coin after purchase.|
Don’t get me wrong, I love the thrill of buying coins in person and building connections with other enthusiasts and collectors. But the reality is that I’m not always close to a reputable dealer or a top coin event. More and more, I get value from online marketplaces and sites, and I’ve seen my collection grow comfortably from my purchases online.
If you’re in a city with good dealers and a lot of events, then be my guest and say hello for me while you’re at it. But if you’re like me and don’t have these resources on your doorstep, you’re going to want to check out the options below.
Top Online Marketplaces for Coin Collecting in 2023
Navigating the vast world of online marketplaces can be daunting. But fear not! I’ve done the heavy lifting for you. Here’s a deep dive into the top platforms this year:
|Platform||Selection||User Experience||Authenticity & Trust||Silverpicker promotion||LINK TO BUY|
|Curated & Quality||Live Auctions & Streams||Verified Sellers; Buyer Protection||Get $15 off||CHECK PRICES|
|Vast & Diverse||Detailed Listings||Industry Titan||None||CHECK PRICES|
|Global & Wide||Mix of Auctions & Direct Sales||Buyer Protection||None||CHECK PRICES|
|Extensive & Diverse||Expert Appraisals & Detailed Listings||Established Reputation||None||CHECK PRICES|
|District.net Silverpicker Marketplace||Handpicked & Curated||Community-Driven||Vendors Hand-picked by Silverpicker||Platform-Specific Deals||CHECK PRICES|
Whatnot has emerged as a favorite among coin enthusiasts, especially those who love the thrill of live auctions. I’m on there all the time as both a seller and a buyer. Just take a look at my most recent auction:
Personally, I love Whatnot, and have been a buyer and seller plenty of times. Check out this video, where I talk through the platform.
- Specialized Platform: Tailored for enthusiasts, ensuring a curated and quality experience.
- Real-time Auctions: Experience the excitement of live auctions and snag some fantastic deals.
- Direct Interaction: Engage with sellers during live streams, asking questions and getting immediate responses.
- Verified Sellers: Reduced risks with a community of verified and trusted sellers.
- Exclusive Deals: As a Silverpicker reader, you get $15 towards your first order on Whatnot.
- Active Participation Required: To grab the best deals, you’ll need to be active during auctions.
Apmex stands as a titan in the coin and precious metal world. Its reputation is built on years of trust, quality, and customer service. I know from experience that when you buy from Apmex, you’re getting exactly what you expect. You can check out my video I made about a recent Apmex purchase here.
- Extensive Selection: From gold bullions to rare coins, Apmex offers a vast inventory.
- Detailed Listings: Each coin comes with comprehensive information, history, and high-quality images.
- Secure Transactions: With years in the industry, Apmex ensures safe and reliable transactions.
- Premium Pricing: Reflecting its top-notch quality and reputation for authenticity, some items might be priced higher than on other platforms.
- Global Reach: Access to coins from sellers around the world.
- Diverse Listings: From amateur sellers to professional dealers, eBay offers a wide range of listings.
- Buyer Protection: eBay’s policies ensure that buyers are protected against counterfeit items and fraudulent sellers.
- Research Required: With such a vast marketplace, buyers need to do their due diligence to ensure authenticity.
- Potential for Scams: As with any large platform, there’s a risk of running into unscrupulous sellers.
While each platform has its own unique strengths, Whatnot and Apmex come highly recommended. Whether you’re looking for the thrill of a live auction or the trust of an industry giant, these platforms have got you covered.
4. Heritage Auctions
Heritage Auctions is one of the leading auction houses in the world, renowned for its vast selection of coins, currency, and other collectibles.
Extensive Catalog: Offers a wide range of coins from various eras and regions.
Reputation: Established in 1976, it has built a reputation for authenticity and trust.
Detailed Descriptions: Each listing comes with comprehensive information, high-resolution images, and often, provenance details.
Expert Appraisals: Heritage provides expert grading and appraisals, ensuring the authenticity of each coin.
Premium Pricing: Given its reputation and the quality of items, prices can be on the higher side.
Buyer’s Premium: Purchases often come with an additional buyer’s premium, increasing the overall cost.
Competitive Bidding: Popular items can see fierce bidding wars, driving up prices.
5. District Silverpicker Marketplace
District.net’s Silverpicker Marketplace is where I personally curate coins and collectibles that I think are good value.
- Curated Listings: Each seller is hand-picked by Silverpicker, ensuring quality and authenticity.
- Community-Driven: Built on the ethos of the Silverpicker community, fostering trust and camaraderie.
- Exclusive Deals: Special promotions and offers available only on this platform.
- Educational Resources: Access to guides, videos, and insights to enhance your collecting knowledge.
- Niche Selection: While curated, the selection might be narrower compared to larger platforms.
Where NOT to Buy
So far, we’ve spoken about the various legitimate places you can go to purchase coins and currencies. But this buying guide wouldn’t be worth very much if we didn’t mention the (unfortunately too many) vendors and platforms that you should absolutely avoid:
- Wish.com: Fake coins. Nothing more to say here.
- Aliexpress: Fake coins. See above.
- American Treasures: Overpriced rip offs. You can get the same coins at other online retailers for half the price or better
- HSN (home shopping network): Overpriced rip offs. Same as above.
Essential Tips for Buying Coins & currency in 2023
As the market continues to evolve, both seasoned numismatists and newcomers must stay informed and vigilant. Whether you’re exploring online platforms or traditional avenues, these essential tips will ensure a safe and rewarding coin buying experience:
Research is Key
Before making any purchase, invest time in researching the coin’s history, rarity, and current market value. Platforms like [thesilverpicker.com](https://thesilverpicker.com/) offer valuable insights and guides to assist you.
Especially crucial for online purchases, ensure the coin’s authenticity. Trusted platforms like Apmex and Whatnot have stringent verification processes, but always double-check.[https://www.youtube.com/watch?v=0jZQAd-Oif8&t=600s]
Research and Grading
The value of a coin often hinges on its grade. Familiarize yourself with grading standards and, if possible, seek third-party grading from reputable organizations.
Whether it’s with online sellers or local dealers, building a rapport can lead to better deals, insider information, and first access to new arrivals.
The numismatic market is dynamic. Regularly check industry news, join collector forums, and check out my YouTube channel to stay ahead of trends and market shifts. I’ve also relaunched my newsletter, which I send out weekly. In it, I cover the latest news, deals, trends, and questions from the numismatic world.
Set a Budget
It’s easy to get carried away, especially at live auctions or when spotting a rare find. Always set a budget for your purchases and stick to it.
Beware of Scams
While platforms like eBay offer buyer protection, always be cautious. If a deal seems too good to be true, it probably is. Check seller reviews, ask for additional verification, and trust your instincts.
Document Your Purchases
Maintain a detailed record of your collection. This not only helps track your investment but is also invaluable for insurance purposes.
Enjoy the Journey
Collecting is as much about the journey as it is about the destination. Enjoy the process of discovery, learning, and the sheer joy of owning a piece of history.
The world of coin & currency collecting in 2023 is a blend of tradition and innovation. From the tactile pleasure of holding a centuries-old coin to the thrill of a digital auction countdown, the avenues for expanding your collection are diverse and exciting.
As you navigate this landscape, remember the tips shared in this guide. Stay informed, be cautious, but most importantly, cherish the stories and history each coin or currency brings to your collection.