Coin dealers

Heyman_526 · July 11, 2020, 10:57:50 AM

Hi I was just wondering if there are any reputable coin dealers in South Australia? I'm looking at growing my collection with some coins and bank notes preferably uncirculated if I can. Also I was wondering if there were any coin books I can get to tell me what sort of coin i have?

Thank you for your time I look forward to hearing from you soon.

Unicorn · July 11, 2020, 11:05:42 AM

Hey Heyman, definitely get in touch with Mark & Kathryn at The Purple Penny.
They're at Shop 2 2-4 Hurtle Pde, Mawson Lakes, SA
0422 977 753
The will certainly be able to help you out :-)

JeffH · July 11, 2020, 11:19:14 AM

:i_agree:
Very reputable and ethical.

The Purple Penny

gweidion · July 11, 2020, 04:17:34 PM

Most coin dealers are reputable. They can't afford not to be. Only problem I find with dealers is they mostly want near book value for coin and bank note sales, when you can often pick up similar notes and coins for about 40 % of book value, which seems to be about market value. There are exceptions of course.

Heyman_526 · July 11, 2020, 07:04:11 PM

Quote from: 'gweidion' pid='122787' dateline='1594450054'Most coin dealers are reputable. They can't afford not to be. Only problem I find with dealers is they mostly want near book value for coin and bank note sales, when you can often pick up similar notes and coins for about 40 % of book value, which seems to be about market value. There are exceptions of course.

Thank you all for your help I don't know exactly what I'm after but if I contact one will they potentially give me a mixed bag of sorts? I just want a random assortment of coins and notes to add to my collection I would consider buying elsewhere I'm just wary of being scammed I don't really know what is genuine and what was not i was told to go with a dealer but I am also open to suggestions. Cheers.

gweidion · July 11, 2020, 07:21:05 PM

Quote from: 'Heyman_526' pid='122788' dateline='1594460051'
Quote from: 'gweidion' pid='122787' dateline='1594450054'Most coin dealers are reputable. They can't afford not to be. Only problem I find with dealers is they mostly want near book value for coin and bank note sales, when you can often pick up similar notes and coins for about 40 % of book value, which seems to be about market value. There are exceptions of course.
Thank you all for your help I don't know exactly what I'm after but if I contact one will they potentially give me a mixed bag of sorts? I just want a random assortment of coins and notes to add to my collection I would consider buying elsewhere I'm just wary of being scammed I don't really know what is genuine and what was not i was told to go with a dealer but I am also open to suggestions. Cheers.

There is a guy I know who operates as a dealer who has a few tonnes of foreign coins that were donated to charities but weren't of sufficient values to be converted for the charity. If you are interested I'll see if he is still selling them, usually you can buy by the kilo. You aren't going to get rare coins in these and there are bound to be some or quite a lot of duplicates.
I think I bought about 5 kilos from him some years ago just to give my daughter some coins to look through.

Heyman_526 · July 11, 2020, 07:41:04 PM

Quote from: 'gweidion' pid='122789' dateline='1594461065'
Quote from: 'Heyman_526' pid='122788' dateline='1594460051'
Quote from: 'gweidion' pid='122787' dateline='1594450054'Most coin dealers are reputable. They can't afford not to be. Only problem I find with dealers is they mostly want near book value for coin and bank note sales, when you can often pick up similar notes and coins for about 40 % of book value, which seems to be about market value. There are exceptions of course.
Thank you all for your help I don't know exactly what I'm after but if I contact one will they potentially give me a mixed bag of sorts? I just want a random assortment of coins and notes to add to my collection I would consider buying elsewhere I'm just wary of being scammed I don't really know what is genuine and what was not i was told to go with a dealer but I am also open to suggestions. Cheers.
There is a guy I know who operates as a dealer who has a few tonnes of foreign coins that were donated to charities but weren't of sufficient values to be converted for the charity. If you are interested I'll see if he is still selling them, usually you can buy by the kilo. You aren't going to get rare coins in these and there are bound to be some or quite a lot of duplicates.
I think I bought about 5 kilos from him some years ago just to give my daughter some coins to look through.

I'll have a look for sure if he is still selling could you please send through their details? Cheers

gweidion · July 11, 2020, 11:17:13 PM

[quote pid='122789' dateline='1594461065']
I'll have a look for sure if he is still selling could you please send through their details? Cheers
[/quote]

I've sent him an email, I'll let you know when I get a response.

ausproofs · July 12, 2020, 11:35:26 PM

Quote from: 'Heyman_526' pid='122788' dateline='1594460051'
Quote from: 'gweidion' pid='122787' dateline='1594450054'Most coin dealers are reputable. They can't afford not to be. Only problem I find with dealers is they mostly want near book value for coin and bank note sales, when you can often pick up similar notes and coins for about 40 % of book value, which seems to be about market value. There are exceptions of course.
Thank you all for your help I don't know exactly what I'm after but if I contact one will they potentially give me a mixed bag of sorts? I just want a random assortment of coins and notes to add to my collection I would consider buying elsewhere I'm just wary of being scammed I don't really know what is genuine and what was not i was told to go with a dealer but I am also open to suggestions. Cheers.

Do you know if you are after pre decimal or decimal Australia coins ? Or are you after foreign coins ? If you want Australia coins even pre decimal, you can pick some low grade coins for a cheap price. If you are serious about collecting, go for quality not quantity. Junk lots are not worth the effort if you ask me. Also there are a lot of very ethical and helpful collectors in here. I am sure they can help you out as well.

Good luck !

Heyman_526 · July 15, 2020, 08:29:27 AM

Quote from: 'ausproofs' pid='122792' dateline='1594562726'
Quote from: 'Heyman_526' pid='122788' dateline='1594460051'
Quote from: 'gweidion' pid='122787' dateline='1594450054'Most coin dealers are reputable. They can't afford not to be. Only problem I find with dealers is they mostly want near book value for coin and bank note sales, when you can often pick up similar notes and coins for about 40 % of book value, which seems to be about market value. There are exceptions of course.
Thank you all for your help I don't know exactly what I'm after but if I contact one will they potentially give me a mixed bag of sorts? I just want a random assortment of coins and notes to add to my collection I would consider buying elsewhere I'm just wary of being scammed I don't really know what is genuine and what was not i was told to go with a dealer but I am also open to suggestions. Cheers.

Do you know if you are after pre decimal or decimal Australia coins ? Or are you after foreign coins ? If you want Australia coins even pre decimal, you can pick some low grade coins for a cheap price. If you are serious about collecting, go for quality not quantity. Junk lots are not worth the effort if you ask me. Also there are a lot of very ethical and helpful collectors in here. I am sure they can help you out as well.

Good luck !

I think I'm after pre decimal and decimal I'm not really worried so long as they are in good condition and are genuine. I don't think I have many if any foreign coins is there much of a market for those? What's the resale like if I decided to sell them straight away?

ausproofs · July 15, 2020, 11:05:38 AM

Good quality pre decimal (ie 1918 Sixpence Unc to Choice unc or in America Grading MS 62 to MS64) would cost you thousands of dollars. But a 1972 Five Cent in Gem or MS66 or 67 would cost you hundreds of dollars.

Best you read about coins and educate yourself before deciding what to buy. As for making money, yes it can be done. But it's much harder than one would think.

I collect high grade pre decimal coins. If you want to know about what coins normally sell for , have a look at Numisbid.com.au site and price realised section.

interest · July 16, 2020, 09:51:41 AM

Remember how there used to be a coin dealer in nearly every large suburb tucked away in a small arcade?
They always had a wealth of knowledge they were willing to share with you, probably because they sat there for hours without any customers & once they had someone to talk to about coins well, it was sometimes hard to leave (or escape) the shop.
ARGH the good old days.

Bigfellani5 · July 16, 2020, 10:27:37 AM

Quote from: 'interest' pid='122809' dateline='1594858901'Remember how there used to be a coin dealer in nearly every large suburb tucked away in a small arcade?
They always had a wealth of knowledge they were willing to share with you, probably because they sat there for hours without any customers & once they had someone to talk to about coins well, it was sometimes hard to leave (or escape) the shop.
ARGH the good old days.

This is a result of all the "pop-up" dealers. The industry is loosing a lot of knowledge due to this. There are so many areas now where you cant go into a shop and suck the dealer of all their knowledge.

gweidion · July 16, 2020, 12:42:18 PM

Quote from: 'interest' pid='122809' dateline='1594858901'Remember how there used to be a coin dealer in nearly every large suburb tucked away in a small arcade?
They always had a wealth of knowledge they were willing to share with you, probably because they sat there for hours without any customers & once they had someone to talk to about coins well, it was sometimes hard to leave (or escape) the shop.
ARGH the good old days.

Used to be stamp dealers like that too. Most suburbs had a couple. Australia Post then went on a campaign of screwing as much money out of collectors as possible, multiple stamp issues each month if not each week. Costs went up, interest went down and corner stamp dealers went broke and out of business.
I'm seeing something similar from RAM these days. Perth Mint has always had a policy of over issuing at overpriced levels, hence the reason I don't collect Perth Mint issues.
The way RAM is going I'll only be collecting circulating coins soon.

Heyman_526 · July 16, 2020, 05:23:09 PM

Quote from: 'gweidion' pid='122813' dateline='1594869138'
Quote from: 'interest' pid='122809' dateline='1594858901'Remember how there used to be a coin dealer in nearly every large suburb tucked away in a small arcade?
They always had a wealth of knowledge they were willing to share with you, probably because they sat there for hours without any customers & once they had someone to talk to about coins well, it was sometimes hard to leave (or escape) the shop.
ARGH the good old days.

Used to be stamp dealers like that too. Most suburbs had a couple. Australia Post then went on a campaign of screwing as much money out of collectors as possible, multiple stamp issues each month if not each week. Costs went up, interest went down and corner stamp dealers went broke and out of business.
I'm seeing something similar from RAM these days. Perth Mint has always had a policy of over issuing at overpriced levels, hence the reason I don't collect Perth Mint issues.
The way RAM is going I'll only be collecting circulating coins soon.

Is it a hard task to buy whole collection or book? If anyone has any for sale please let me know uncirculated preferably but I may consider circulated ones too. I was also wondering what books are good for education and learning about coins? I have a limited knowledge but I am keen to learn more cheers.