As more people purchase coins online, especially from auction portals, it is vital that they read terms of service. Overpaying for coins on television has hurt the hobby in the past. Overpaying on Internet can do more damage because the auction company may have access to buyers’ data, including credit card information.

We continue to see practices online that concern us, from over-graded coins by self-slabbers to counterfeit and altered lots by questionable sellers.

Coin Update viewers might be interested in recent developments on one of the largest auction portals in the country, Proxibid.

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