The following post is being shared to help educate the coin collecting hobbyists to some of the many ways people will use to sell inferior numismatic items to unsuspecting buyers.

Michael Bugeja discloses a trick that should discourage anyone from overbidding anymore on “unopened” Mint and Proof sets.  He comments that he is discouraged by unethical practices on many of the internet venues.  Then he shows other common “swaps” that entail removing toned or desirable coins from rolls, holders, cases, and envelopes and replacing them with lesser value coins.

He realizes that he will be showing others how easy it is to lie about a Proof or Mint set in an “unopened” envelope, in order to prey on collectors’ hunger to search and find cherry coins.  However, he does not disclose the subtle moves of the X-Acto knife that ruins envelopes in amateur hands, which is why you find taped envelopes in coin auctions.

He sums up his article by stating – Be skeptical, know how to grade, and remember the saying about an item being “too good to be true.”

In summary, remember to ask questions and surround yourself with good and competent coin dealers when you attend coin shows and auctions.  A good coin collecting partner is worth the time and effort of good conversation.  Another good place for information is a local coin club in your area which may have publications available or other members who have stories to share from experiences.

For full details and many included pictures of common scams go to his article in the February issue of Coin Update.

Source: The great coin swap: Get wise about online buys | Coin Update