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The E-Sylum:  Volume 8, Number 47, November 5, 2005, Article 33

ANA RAISES PUBLIC AWARENESS OF TRAVELING COIN BUYERS

The American Numismatic Association is to be commended for
getting the word out to the public regarding one potential scam,
the traveling coin buyer.  Of course, many of these buyers are
undoubtedly on the up-and-up and may offer fair prices to the
public selling their numismatic items.  But sellers who fail
to shop around could find themselves selling far too cheaply.

The following excerpts are from a November 1, 2005 article
by Patricia Sabatini in the Pittsburgh Post-Gazette:

A traveling buyer of collectibles is in Pittsburgh this
week offering "instant cash" for rare coins, jewelry, gem
stones, guns, historical documents and other valuables.

But before you head over to the event hoping to get top
dollar for grandma's prized silver tea set or grandpap's
beloved pocket watch, experts advise doing your homework.
They say you should have a good idea of what your valuables
are worth before showing up at such events or you risk
getting taken.

"Companies that do business like this, setting up in hotels
and keep constantly moving, are notorious for paying way
below the market value for what you bring in," said David
Sklow, researcher at the American Numismatic Association,
the country's largest trade association for coin collectors
and dealers.

"Make yourself aware of what you have so you aren't going
in there blind," Mr, Sklow said, adding that taking your
collectibles to a buyer's show isn't the place for an
unbiased appraisal.

To read the complete article, see: Full Story

  Wayne Homren, Editor

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