Where to Find Old Coins
Once coin collecting spark expands into a hobby, you might be left wondering how to add to your collection. Most of us start becoming interested with an eye-catching coin from our pocket change or perhaps with a gift from a family member (as was the case with me). My primary means of adding to my collection for several years was by looking through the change I received and occasionally finding something to add to my year sets or finding something a little more out of the ordinary like foreign coins and obvious errors. That was a very slow process that didn't expand my collection much for a long time.
Pocket Change
I decided after a while that I wanted to invest a few dollars here and there in my hobby to help expand it but I still didn't know where to find old coins. My searching led to crossing paths with a few coin lots at auctions and a local store that happened to have a coin display before I finally found a good network of people that were able to show me all the other places that I could find coins. Today, I'll share with you a summary of what I've found and notes about where I have been most successful when searching for different parts of my collection.
MANY Online Opportunities
Starting with the obvious answer - you can find MANY coins online. From online auctions to classified ads to online dealers with their own sites - there are a huge variety of different online sources for coins.
As a generalization, online auctions are a good place to find specific, rare coins that you want to add to your collection. Coins that are not likely to appear in any local stores unless you're very fortunate. These coins tend to sell for more than the same coins at a local dealer but the premium can be worth it for a specifically needed coin. You should always remember that online sales cost the seller more than a local sale and the seller considers it worth-while to invest that money to reach a broader customer base with interest in their inventory.
I have been able to find some good opportunities with online auctions but only through nearly obsessive monitoring of topics and notifications. You should know also be knowledgeable on what you're buying and try to verify trust in the seller before purchasing a coin that you can't hold and know in person before spending your money. Be cautious about online sales because the seller starts with the advantage of competition and knowing the product better than a buyer.
Get to Know Your Area - Estate Sales, Garage Sales, and Auctions
Now, the next source to add coins to your collection is by searching your local area any time there is an opportunity for people to sell their stuff. I have had occasional luck with coins at estate sales and garage sales but it is not common to find coins for sale in my region. After looking through garage sales, I almost always close by talking to the sale host and saying "I collect coins, do you have any for sale?" That rarely gets any results, but when it does it can make for quite a fun discussion whether I end up buying their coins or not.
Garage Sale items
I went out probably 4 or 5 different weekends this summer and found 2 people selling coins. One had a collection that was too big and expensive for me to purchase - I thanked them and left my contact information. The second had a smaller collection that they weren't ready to part with so I again thanked them and left my contact information. After about 3 months, one of the two people called me back when they were ready to sell. We were able to meet again and I purchased the collection for a very fair price that we were both happy with!
I find 2 things most important when adding to my collection in this way:
Be knowledgeable - You will do yourself a disservice to pay too much and you can do the seller harm by buying for too little. I find it better to pass on a deal rather than take an uneducated guess at the result.
Be honest - If you know a coin is valuable, tell them. It will gain their trust and they will be more likely to sell a collection that could have belonged to a loved one if they feel you're being fair and honest with them. It's best for both sides of a deal to feel good about a transaction.
I have found a most auction galleries in my area will regularly host auction estates that have coins in them. These are great opportunities because the auction galleries frequently will have either pictures of the lots or listings that you can use to research before the auction starts. The pictures allow you to be ready to pay the right amount for coins you want in your collection.
Buying coins from sales and auctions in your area can be productive as long as you are buying in your knowledge area and don't venture out beyond what you can afford.
Local Coin Shops
This is my absolute favorite source to expand my collection and I can't overemphasize their value. If you're lucky enough to have a shop that specializes in coins or currency you should use that to your best advantage. When I'm able to make it to my local coin shop, I generally have a coin or type of coin in mind for purchase and a different collecting area for discussion.
It took me a long time to realize the value that I could get from just talking to the coin shop owner about whatever I wanted to know. It also shows that you're interested in the hobby and you're not just looking to make money off their work. I'm not a hard bargainer and generally just ask what the seller wants for a specific coin. I just put it back if it's not what I'm willing to pay and keep looking. I will by a coin if it's the right price. That has worked for me over the long run and it keeps me in their mind when they come across something that they think I'll be interested in.
This is a relationship that you should develop so you can both trust each other and always feel like you come out of the deal in good shape. I've had multiple local coin shop owners contact me to tell me they found something I would like and I don't think they have every been wrong!
Antique, Pawn, and Curiosity Shops
If you don't have a local coin shop, there are a number of other places that I've found in my area that sometimes can be productive. Antique and curiosity shops sometimes will have a shelf here or there that offer a small selection of coins. The prices can be high or low so this is another place to make sure you don't overpay - you'll have more time to consider the purchase at an antique store which can be helpful if you don't know something definitively.
Pawn shows have items of almost every genre and old coins are no exception. My area of the US (rural northeast) doesn't seem to have many pawn shops but I have visited some in other regions. They're much more prevalent in other (more urban) areas and I have had some luck and only one fail from them. The fail came from not researching a coin that I verified to be a counterfeit when I returned home and it was too late to return it. An example of how it can cost you to buy without knowing or researching to verify.
Local Coin Clubs and Shows
Local coin clubs are a great way to join a community of collectors and whether you just receive an online newsletter or you are heavily involved with in-person activities - you gain a better knowledge of people and places that are right in your area to find coins for sale and sometimes for trade. An easy way to find a local coin club is simply to search on any search engine for your town name and "coin club" or "coin show". Most clubs have a website or contact information that will let you reach out and get started.
Another benefit of local coin clubs is that they regularly hold local coin shows. Depending on the size of your region, the shows may have only a few dealers with tables up to hundreds with the largest coin shows in the country. This is a great place to gain knowledge and to find good deals in a wide variety of areas.
Opportunities to Find Coins Are All Around
With all of these places to look, you might still not know how to start. My advice to you is to find someone local to you with an interest and expand out from there. Always use caution - especially if you haven't established trust with a seller - and know that you never have to buy anything presented to you. You should always be aware of small boxes and the jewelry counter at local stores, sales, and auctions as you never know where people might hide a few gems!
Explore what's out there and try to see as many genres as possible and expand your collections in areas that you enjoy! Take some time with an online auction company and pick a coin and then search to find out just how many people sell the same type of coin. Then you will see the wide variety of prices that you can find.
When you discover the right coin for the right price, make the move and add it to your collection! That's how to find nice coins!