Before you buy anything, learn the following:

- What is its true grade?

- Considering its sharpness (or weakness) of strike, surface characteristics, and aesthetic appeal, is it an outstanding example of its kind?

- What have comparable pieces sold for recently?

Learn these things, and you will be an informed buyer.

Check the Dealer's Reputation

How can you check on a dealer's reputation? If you are not sure, you may wish to contact the following:

- The Federal Trade Commission, to see if the firm is the subject of present or past actions. (The FTC will only give information on cases which have been made public, not on current investigations.)

- The executive director of the Professional Numismatists Guild, to see if the dealer is in good standing and has a good reputation with that organization (there are many fine dealers who for one reason or another do not belong to the PNG, but most of the better, larger ones do).

- Coin World and Numismatic News, to learn what you can.

- Once you do this, go further and "ask around" to see what other collectors, particularly those who have been in numismatics for five years or more, have to say about the firm or individual. Indeed, if you want to do just one thing to check, to this.

Sometimes organizations and publications are less than candid, as they fear to say anything negative or to impugn the reputation of someone who is financially important.

If your investigation proves inconclusive, or if you detect hedging when you inquire about some firm's reputation, immediately take your business elsewhere. There is no lack of places where you can spend your money and receive a legitimate value.