Proxiblog has created an online buyer’s guide for bidders and auctioneers who asked us to provide more information on grading. This guide will appear in three parts as occasion arises.

As many auctioneers know, we buy primarily from Proxibid where numismatic standards mostly are determined by auctioneers rather than by the seller or portal. True, many online auction companies are not only reliable but ultra-trustworthy (see rankings to the right), and we profile them regularly on Proxiblog. Recently, Proxibid has posted a series of badges notifying bidders about the best practices of auction houses.

All that is helpful, but not if you overlook pitfalls. While better bargains can be had on Proxibid than on many portals, including eBay, the risks are far, far steeper if you don’t know how to identify altered, hyped, damaged, self-slabbed coins. This online bidder’s guide can save you hundreds, if not thousands, of dollars.

First off, some basic rules about buying coins in auctions. …

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