How to Look for Rare Coins

Look in your local flea markets. Flea markets are a valuable resource for finding one of a kind, unexpected merchandise. Vendors usually look for a quick turnover, which means they are willing to let merchandise go for a steal and are more than ready to bargain with you. Unless a vendor specializes in coins, they probably get their merchandise from a secondary source and don't know the value of their coins. Buying in bulk gives you a better chance of finding a valuable piece.

Attend coin shows. Shopping malls, convention centers and hotels hold events that allow dealers and collectors to rent tables in order to sell their merchandise. These events often have complete collections that will help make it easier to find the pieces you're missing. It's also a good idea to plan ahead and consult price lists, catalogs and the Internet when determining how much you're willing to pay. Some shows include seminars and classes on collecting techniques, and charts of current precious metal prices.

Find a coin auction. Collectors of extremely rare coins can have the best luck at rare coin auctions. There are a number of online auction sites as well as traveling auctions that take place at coins shows. If you're looking to purchase, remember that there are buyer's fees of up to 15 percent per item. This means your coin will have to gain in value by 15 percent before you break even. If you're ready for an auction, you should consider sending a dealer to bid for you so you can be sure that you are purchasing an authentic item.

Join a collector's forum. Other coin collectors are a valuable source of finding rare pieces. You can complete or add to your collection without having to pay purchasing fees, but you will have to be careful about disreputable sellers. The Internet hosts a number of online forums with local meet-ups that give collectors a chance to share tips and information. If you're going to build your collection this way, it's best to stay current on the latest news and pricing.