Gold Collectible
Are the " offset " error Washington & Adams gold dollar coins real errors or are they " man-made fakes " ?
I am not a coin collector although I have recently purchased a total of 4 Morgan Silver Dollars on e-bay. Despite the fact that I have spent just a total of $ 50. for these 4 coins; I have been advised to stop purchasing any more coins on ebay. I have followed this advise but recently I observed quite a number of coins being offered on e-bay indicating that these coins ( from the Philadelphia mint ) are 2007 gold dollar " offset " error Washington & Adams coins ? Many people are bidding for these coins starting @ $ 19.95 bidding up to $ 39.95 buy it now price. I was just wondering whether these are real " error " coins or were they more possibly intentional " man-made errors " by unscrupulous sellers ? If they are real...are they considered to be collectible ?? If so, what are they valued at ?? Lastly.....in as much as my current circumstances dictate that I can't visit a coin dealer......Are there any good reputable internet sites to purchase coins from other than US Mint ?
I will say this about advertisers in Coin World and Numismatic News... do not buy coins from the multi-page advertisers unless they are US Mint products in the original packaging (proof sets, etc.). And I agree you should not buy coins on ebay as a novice collector. I have read far too many sad stories about collectors who started out buying coins on ebay only to find out many $$$ later that they overpaid horribly. But if you paid $50 for 4 Morgan silver dollars, and they are authentic (not reproductions), you did all right.
All mail-order dealers who advertise in those two papers will offer a return policy if you're not satisfied, but there are many advertisers who will sell overpriced junk and hope the buyer is so uninformed that he doesn't know enough to return it for a refund.
It's difficult to recommend specific dealers, not knowing what type of coins you're interested in.
You'll be OK buying coins from the US Mint, and they sure have plenty of different things to sell. But I would urge you not to do so in the hopes of making a profit. It's great if it works out that way, but in my experience people who get into coins hoping to make money do not succeed.
You might consider joining the American Numismatic Association http://www.money.org and take advantage of their huge library, where you can borrow books through the mail for the cost of postage only. They also offer (at a cost) courses you can take to help you increase your knowledge. There may even be a coin club in your area that you could join (and the ANA would have listings), which would most likely put you in touch with people who could help you get going with collecting while avoiding the pitfalls.
One more recommendation, which you can do easily, would be to start reading the message board at the PCGS site http://forums.collectors.com/categories.cfm?catid=26 , and also use the search feature to go through older messages. There is much knowledge to be had there, and they are friendly to new collectors with questions.
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