Whether you’re just getting started in a new hobby, motivated to diversify your portfolio, or you are a seasoned coin or paper money collector, the Internet has sure made doing so a lot easier. Prior to the world wide web, coin collectors and numismatics were forced to travel far and wide in locating and meeting others who did the same. Coin shows and flea markets became the domain of the serious collector. But today thanks to Internet auction sites, coin and paper money collecting is easier and more predominant than ever. And with the crazy economic times, many are looking to this hobby as a form of personal financial protection.
Probably the most familiar auction site that you will have surely heard of is eBay. Believe it or not, eBay has coins, paper money, bullion, and a host of other rare coin and foreign coin collectibles all for the finding. It’s simply a matter of searching their website. Know what you’re looking for? Enter it into their powerful search machine, and you’re likely to get a whole host of items that exactly or nearly match what you entered. And one of the real beauties of collecting this way is that you can do it from your own home. Plus, you just have your purchase (assuming you win the bidding) delivered directly to you at your address.
Two things are needed for you to use auction sites like eBay:
- Computer
- Connection to the Internet
That’s it!
To search eBay coin or paper money auctions, you do NOT need an account. However, if you’re going to actually auction off some of your own coins, you DO need an account, at least with eBay.In order to show off your own collection, and to offer your rare coins to other collectors, you will need to set up an Ebay account. You dont need an account to search Ebay coin auctions, but you will need an account if you hope to auction off your own coins. Don’t be put off by that though. If you can follow simple directions, they’ll walk you through every step. Make sure you read their terms and conditions to know exactly what portion of your sales they’ll take for sales you make through their auction site.
A picture is worth a thousand words, right?! So you should take some good photos of what you’re going to auction. Actually, I recommend you actually take the time to go through some of eBay’s online tutorials. They’re really good.
All the best of success, whether as a hobbyist or for wealth protection!
Also, above in the first paragraph I’ve linked to two great Wikipedia articles that can provide a lot of background information should you be so inclined.
My Coin Collection Part 4: Foreign Coins