Coin & Stamp Dealer

The shortcut: Coin dealing isn't about owning rare coins. It's about being the local guy with $15K-$20K in cash who buys grandpa's collection from heirs at 65-75 cents on the dollar, then resells graded singles online. Sourcing is the moat. Retail is the exit.

Industry: E-commerce Investment level: Low — $10,000-$30,000 Time to launch: 2-3 months to first online listings Best for: Someone who already reads Coin World on the toilet, can spot a 1916-D Mercury dime in a junk box, and won't flinch about driving 90 minutes on a Saturday to look at a deceased uncle's safe deposit box. What you'll likely make: ~$1.5-$2.5K/month profit by month 4 once you've cleared one estate buy and your eBay feedback is past 50, $4-$6K/month by month 9 if you've added a PNG-aspirant reputation and a steady grading cadence. Math is in Section 4.

Market Opportunity

The coin shop on Main Street isn't dying because nobody collects coins. It's dying because a 70-year-old dealer waits for walk-ins instead of answering the phone Saturday morning. Most heirs inheriting a coin collection don't know what they have and want a check by month-end. The dealer who shows up with cash, a loupe, and a fair number wins the lot at 65-75 cents on the dollar. The dealer who says "send me photos and I'll get back to you next week" gets nothing.

US retail e-commerce hit $316.1B in Q4 2025, +5.3% year-over-year — US Census Q4 2025. Graded singles sell on eBay and Heritage faster than they ever sold over a glass counter.
Cart abandonment averages 70.22% across e-commerce — Baymard Institute. Coin buyers abandon less when the listing shows a PCGS or NGC slab number they can verify on the grader's website. Trust is in the slab.
Even non-numismatic coins have a melt-value floor. Pre-1965 US silver dimes carry ~71% of face value in silver content alone — track spot at Kitco. That floor protects you when 80% of an estate lot is common-date "junk silver."

Target customer: (1) The graded-coin collector — wants a PCGS MS-65 1909-S VDB Lincoln cent, knows comps. (2) The bullion stacker — buying ounces, watches spot. (3) The estate walk-in — inherited coins, just wants fair treatment. Buyers 1 and 2 pay your bills. Buyer 3 is your inventory pipeline.

Launch With AI

Pro tip: The estate-buy phone call is where dealers either profit $1,500 or lose $400. AI handles the per-coin-lot valuation models from CoinTrackers + Heritage auction comps in 10 min instead of 4 hrs, the IRS Form 8300 + Bank Secrecy Act compliance for $10K+ cash buys (skip this and you face $25K+ fines + criminal exposure), and the per-state precious-metals-dealer licensing checklist.

Upfront honesty: AI cannot spot a 1916-D Mercury dime in a junk box, identify a counterfeit 1909-S VDB Lincoln cent under a loupe, or judge whether a coin's surface should grade MS-65 or MS-63. The numismatic eye is your craft, and it's the entire reason heirs trust you with a $20K estate buy. What AI does is everything that surrounds the deal: pre-buy lot valuation from CoinTrackers + PCGS Coin Facts + Heritage auction comps, IRS Form 8300 cash-reporting compliance for buys over $10K, per-state precious-metals-dealer licensing (TX, CA, FL, NY, others require dealer permits + cash-purchase reporting to local police), grading-tier strategy per coin (when to PCGS vs NGC vs raw), Heritage Auctions consignment paperwork, and the Klaviyo flow that turns one estate-heir client into a long-term private-buyer pipeline.

AI Tools You'll Use

Tool	What it does for you	Cost
ChatGPT (Plus)	Pre-buy lot valuations, IRS 8300 + state licensing compliance, Heritage consignment	$20/mo
Claude (Free)	Reading IRS Form 8300 + Bank Secrecy Act + per-state precious-metals dealer law	Free
Coin Manage or Coin Tracker	Per-coin price database + grading-tier strategy + auction comp lookup	$40-$200 one-time
eBay Seller Hub + Goldin	Auction listing optimization + Heritage consignment paperwork	Free + 5-15% comm
Klaviyo (Free → paid)	Estate-heir referral nurture + private-buyer pipeline flow	Free → $20/mo

The Workflow

Step 1: Pre-buy lot valuation in 10 min (instead of 4 hrs). When the heir calls Saturday morning, you have 30 min to drive over + 15 min to inspect + 10 min to make an offer. AI does the comp research before you arrive.

Prompt (paste heir's photo descriptions OR your in-person inspection notes): "Generate a lot-valuation estimate for this coin collection: [paste — typical: '~80 silver coins (mostly 1965-pre Roosevelt dimes + Washington quarters), ~30 Walking Liberty halves dated 1934-1947, ~15 Morgan + Peace silver dollars dated 1878-1935, ~25 wheat cents 1909-1958, ~10 Indian Head cents pre-1900, possibly 1 1916-D Mercury dime if she described it correctly, possibly 1 1909-S VDB Lincoln cent']. For each grouping: (1) typical retail value (graded MS-63 or VG-EF for circulated) at current 2026 levels using PCGS Coin Facts + recent Heritage auction comps, (2) realistic selling price for me as a dealer (graded singles on eBay net 70-80% of retail; junk silver bundles net 90-95% of melt; raw bulk lots net 50-65% of guide value), (3) the 'sleeper' candidates — if she described a 1916-D Mercury dime correctly, that's a $1,500-$15,000 coin depending on grade; if she described a 1909-S VDB Lincoln, that's $700-$5,000+; if any Walking Liberty halves are 1921 dates, that's $400-$3,000 each. (4) my realistic max offer at 65-70% of net selling price (so I have margin for grading fees + sale fees + the possibility I overestimate condition). (5) red flags — if she says 'all proof' or 'all uncirculated' but they're loose in a coin folder, the coins are likely circulated. Assume worst-case grading. Output: a clear 'I should offer $X' number + the 'walk-away above $Y' threshold + the 3 sleeper-question questions I should ask in person."

Step 2: Generate IRS Form 8300 + Bank Secrecy Act compliance for $10K+ cash buys. Per 31 USC §5331 + IRS Form 8300, ANY cash payment over $10,000 in a single transaction (or related transactions within 12 months totaling $10K) MUST be reported to the IRS within 15 days. Non-reporting = $25,000+ per violation + criminal exposure (knowing failure = up to 5 years prison). AI generates the compliance workflow.

Prompt: "Generate the IRS Form 8300 + Bank Secrecy Act compliance workflow for my coin-dealer business. (1) WHEN IT TRIGGERS — any single cash payment over $10K from one buyer/seller, OR related transactions within 12 months from the same person totaling over $10K. 'Cash' includes US currency, foreign currency, cashier's checks, money orders, and bank drafts under $10K (designated reporting transactions). 'Cash' does NOT include personal checks or wire transfers (these are bank-tracked). (2) THE FORM — IRS Form 8300 (https://www.irs.gov/forms-pubs/about-form-8300) filed within 15 days of the transaction. (3) WHAT INFO — payer's name + address + SSN/EIN + occupation + signature, transaction details (date + amount + nature). (4) WHAT I MUST PROVIDE TO THE PAYER — within 30 days, give them written notice that I filed (so they're not surprised by IRS contact). (5) RECORD-KEEPING — keep the form + supporting docs for 5 years. (6) PER-STATE PRECIOUS-METALS DEALER LAW — TX, CA, FL, NY, and others require additional reporting to local police for precious-metals purchases (anti-fence laws). Per-state checklist: TX requires dealer license + 30-day hold on jewelry/coins purchased + daily report to police; CA requires Secondhand Dealer license; FL requires precious-metals dealer registration + daily online reporting via [Pawn Pro]; NY requires dealer license + DCWP. (7) WORKFLOW INTEGRATION — for any estate buy approaching $10K, I always: (a) document the buyer's full ID before payment, (b) prefer wire transfer or cashier's check over cash if buyer is OK with it, (c) if cash is necessary, file Form 8300 within 15 days + notify buyer, (d) check my state's precious-metals-dealer registration BEFORE doing my first $10K+ buy. Output: (a) per-state dealer-licensing checklist for top 10 states, (b) Form 8300 trigger workflow, (c) my client-notification template letter, (d) my record-keeping SOP. CRITICAL: this is a federal criminal exposure issue. If your state requires precious-metals dealer license + you don't have one, even a $1,500 coin buy is unlicensed-dealer activity. Get the license BEFORE your first buy, not after."

Step 3: Generate per-coin grading-tier strategy (PCGS vs NGC vs raw). Most new dealers grade everything OR grade nothing. AI generates the per-coin decision.

Prompt: "For a typical estate-bought lot of US coins, generate a per-coin grading-tier strategy. Decision factors per coin: (1) IS THE COIN HIGH-VALUE ENOUGH TO JUSTIFY GRADING — PCGS Economy tier is $25-$30 per coin + ~$15 shipping each way + ~7-10 day turn. Coin must be expected to net $150+ AFTER grading + selling fees to justify. (2) IS THE COIN A KEY-DATE OR SEMI-KEY where grading SIGNIFICANTLY changes value (1916-D Mercury dime, 1909-S VDB Lincoln, 1893-S Morgan dollar, 1937-D 3-Legged Buffalo nickel, etc.) — these ALWAYS get graded. (3) IS THE COIN A COMMON DATE in EF-AU condition where grading might bump from raw $50 to graded MS-63 $250 — case-by-case based on visible quality + my conservative grade estimate. (4) IS THE COIN BULK SILVER — never grade junk silver; sell as bulk by weight at spot+5% margin. (5) IS THE COIN DAMAGED, CLEANED, OR PROBLEM — never grade (PCGS/NGC will return as 'genuine' with a problem designation = 30-50% value haircut + you paid the grading fee for nothing). (6) PCGS vs NGC — for US type coins, market generally prefers PCGS (slight premium); for world coins, NGC has better acceptance. Output: a per-coin decision tree + a typical lot-grading manifest (which 8-12 coins from a typical $4K estate lot to grade, which to sell raw on eBay, which to bulk-bundle as junk silver, which to consign to Heritage)."

Step 4: Generate Heritage Auctions consignment paperwork + per-coin reserve strategy. For coins north of $2,500 graded value, Heritage's bidder list beats your eBay store. AI generates the consignment + reserve strategy.

Prompt: "For a $3,200 graded coin (e.g., a PCGS MS-65 1909-S VDB Lincoln cent), generate the Heritage Auctions consignment plan: (1) WHY HERITAGE — their pre-bid bidder pool is 100x larger than my eBay store for high-end coins; final hammer typically lands at 90-110% of PCGS Coin Facts retail (vs 70-80% on eBay). (2) THE COMMISSION SPLIT — Heritage charges 5-15% to consignor + 17.5-22.5% buyer's premium (standard); high-value coins ($5K+) negotiate to lower consignor commission. (3) THE CONSIGNMENT TIMELINE — Heritage runs monthly + signature auctions; for $3K coin, target their Long Beach Signature Auction (typical Sept + Feb) for max bidder attention. (4) THE RESERVE STRATEGY — set reserve at 75% of my realistic-estimate (e.g., $2,400 reserve on a coin I expect to hammer at $3,200); too-high reserve = no-sale + relisting fees; no-reserve = risk of $1,500 hammer in a slow auction. (5) THE PHOTO + DESCRIPTION — Heritage's in-house photographer is excellent; submit my notes on coin's eye-appeal (luster, strike quality, surface preservation, color) + provenance (estate-bought from family of original collector) — provenance can add 10-20% to hammer. (6) THE PAYMENT TIMELINE — Heritage pays 30-45 days post-auction. (7) THE TAX HANDLING — graded-coin gains are 28% capital-gains rate (collectibles rate, NOT 15-20% standard rate) under 26 USC §1(h)(4); track basis carefully. Output: (a) the consignment paperwork checklist, (b) the per-coin reserve calculation, (c) a sample Heritage submission email + supporting docs for one coin."

Step 5: Klaviyo estate-heir referral + private-buyer pipeline flow. A satisfied estate heir typically has 3-5 friends with similar inheritance situations. A graded-coin buyer typically has 3-5 friends with similar collecting interests. AI writes the dual-pipeline flow.

Prompt: "Write a 4-email Klaviyo flow with TWO trigger paths. PATH A (estate-heir nurture): triggered after I close an estate-buy transaction. Email 1 (1 day after): warm thank-you + W-9 + Form 8300 disclosure if applicable + a 1-line note that I'm available for any other family inheritance questions. Email 2 (30 days): a soft check-in + a referral ask — 'If anyone in your family or friends faces a similar coin/stamp inheritance situation, I'd love an introduction. As a thank-you, I send a $100 Visa gift card for any referral that becomes a transaction.' Email 3 (90 days): a holiday-season check-in. Email 4 (12 months): an anniversary check-in. PATH B (graded-coin buyer pipeline): triggered after a buyer purchases a graded single from my eBay store or Shopify. Email 1 (1 day after sale): warm thank-you + invoice + a 1-line note that I'm always sourcing coins in their interest area + would they like first-look access on new acquisitions before I list publicly? Email 2 (7 days): a 1-paragraph case study of how a private-buyer relationship works (I source per their want-list + send first-look photos + price 5-10% under what I'd ask publicly). Email 3 (30 days): a 'first-look on new acquisition' email if I have something matching their want-list (otherwise a generic newsletter with new graded singles). Email 4 (quarterly): newsletter with 5-10 new graded singles in their interest area. Subject lines under 40 chars. Tone: collegial peer-to-collector, never sales-y. Sign every email from my first name."

Time Saved Per Week

Pre-buy lot valuation per estate call: ~3.5 hrs saved per buy
IRS 8300 + Bank Secrecy Act + state-licensing compliance (one-time setup): ~10 hrs saved + criminal-liability protection
Per-coin grading-tier strategy (per lot): ~2 hrs saved per lot
Heritage consignment paperwork (per high-value coin): ~3 hrs saved per consignment
Klaviyo dual-pipeline flow (one-time): ~8 hrs saved, then runs forever
Total: 8-12 hrs/wk back in steady state — enough to take 1-2 more estate buys per month without burning out.

Total AI Stack Cost

Budget tier: ChatGPT Free + Claude Free + Klaviyo Free = $0/mo to start
Full tier: ChatGPT Plus ($20) + Coin Manage ($40 one-time) + Klaviyo ($20) = $40/mo + $40 one-time
Compare: A part-time numismatic researcher + bookkeeper for IRS-compliance + grading admin = $1,000-$2,000/mo. AI does it for $20-$40.

Your First Win (30-min action)

Run Step 2's per-state dealer-licensing checklist for your state. If your state requires a precious-metals dealer license + you don't have one, START THE APPLICATION TODAY (typical processing 4-12 weeks). Operating without is unlicensed-dealer activity — even a single $1,500 coin buy = misdemeanor or felony per state.

Prompt to write your first heir-outreach Craigslist + Facebook Marketplace listing: "Write a 4-line listing post for the closest Craigslist + Facebook Marketplace 'estate' + 'collectibles' sections in my zip. Hook: 'Estate coin + stamp collection? I'm a local numismatist (your city) buying inherited coin + stamp collections.' Bridge: 'I drive to you, evaluate in person + on the spot, pay cash or wire same-day. No 'send me photos and I'll get back to you' — I respect your timeline.' Pitch: 'I pay 65-75 cents on the dollar of fair retail (which is the standard dealer-buy price across the industry). Open about my math: I send graded singles to PCGS/NGC + sell to collectors; bulk silver moves at spot+5%; cull coins go to bullion buyers. You see exactly what your collection nets.' Close: '[Name + cell + my dealer credentials if I have them — ANA membership, PNG aspirant, etc.]. Available [days/hours].' CRITICAL: only post if your state-required dealer license is in hand. Tone: respectful + transparent + never desperate-buyer."

That single 5-listing batch typically lands 1-2 estate-buy inquiries per month within 30 days. From those, 50% convert to a $3K-$8K estate-buy lot — and the math (with sleepers) typically nets $500-$1,500 profit per lot. That's the entire 'first $1.5K-$2.5K month by month 4' path.

Product / Service Offering

Pick one specialty for year one. US type coins, world coins, ancient coins, or stamps. Each has a different buyer pool and different reference standards. Trying to be good at everything means your listings rank for nothing.

Three lanes:

US type coins (silver dollars, half dollars, dimes, cents) — biggest buyer pool, most online liquidity, best beginner lane. Every estate buy in America has these.
World or ancient coins — smaller audience, higher margins on rare pieces, longer holds. A fake Athenian owl tetradrachm will eat $800 fast.
Stamps (philately) — quieter market, older buyers, plentiful estate inventory. Singles under $10 are slow; first-day covers, plate blocks, and pre-1900 US move steadily.

What you're actually selling — three SKUs:

Graded singles on eBay and your Shopify store — your main revenue. Coins from estate lots, sent to PCGS or NGC, sold in slabs.
Raw bulk lots and "junk silver" by weight — the 70% of every estate buy that isn't worth grading. Sell on eBay in $200-$800 bundles for fast cash recovery.
Heritage Auctions consignment for high-end pieces — anything north of $2,500 graded value, send to Heritage or GreatCollections. Their bidder lists beat your storefront.

Revenue Model

A typical solo dealer at month 6-9 buys 1-2 estate or collection lots a month, lists 30-60 graded singles, and moves $2K-$4K of bulk silver and raw coins on the side.

Unit economics (one $4,000 estate-bought lot of US silver coins and type, cherry-picked and resold 2026):

Line item	Amount
8 graded singles avg $260 + raw bulk silver bundle $1,800 + cull bundle $750	$4,630.00
Acquisition cost (paid heir ~67¢ on dollar of fair retail)	-$4,000.00
PCGS economy grading (8 coins × $25 + shipping both ways)	-$240.00
eBay fees (~13% on $2,800 graded + raw at 12.55%)	-$594.00
Shipping + insured packaging (avg $4 per shipment)	-$120.00
Supplies (slab boxes, 2x2s, holders)	-$30.00
Net per lot	~$-354

Yes — a $4K lot bought at 67 cents still loses money if the math goes against you. That's the trap. Real dealers survive on two things: buying at 60-65 cents (not 67) on lots they can confidently grade, and catching one $1,500-$3,000 sleeper per buy that makes the lot net positive. Above ~$5,000 acquisition with a real sleeper, you're netting $500-$1,500 per lot.

Path to your first $2K profit month: Two estate buys at $4K-$6K each, each yielding one $800-$1,500 sleeper plus steady bulk silver flips at spot+5%. Realistic by month 4 once you've trained your eye.

Path to your first $5K profit month: One $10K-$15K estate buy plus a Heritage consignment of one $3K+ piece, plus consistent eBay singles velocity. Usually month 9-12 once your eBay feedback is past 100.

Startup Costs

Item	Low	Mid	High
Inventory / cash float for first estate buys	$6,000	$15,000	$20,000
Reference library (Red Book, Greysheet sub, Krause world catalog)	$200	$500	$800
Loupes (10x triplet + 30x), digital scale (0.01g), calipers	$150	$300	$500
Fireproof safe or in-floor safe	$400	$1,200	$3,000
PCGS or NGC initial bulk submission credit (50 coins economy)	$1,000	$1,500	$2,000
Photography rig (macro lens, light tent, tripod)	$300	$700	$1,500
Shipping supplies + USPS Registered Mail budget	$200	$400	$700
Shopify Basic + custom domain (year one)	$400	$600	$900
Inventory + transit insurance (annual)	$700	$1,500	$3,000
LLC formation + EIN + business banking	$200	$400	$700
Secondhand dealer / pawnbroker license (state-dependent)	$100	$400	$1,000
Total	~$9,650	~$22,500	~$34,100

LLC fees vary by state ($35-$500) — see LLC University 50-state filing fees. Apply for an EIN free at IRS — never pay a third party. Shopify Basic runs $29/mo + 2.9% + 30¢ — see Shopify pricing.

Legal & Formation

Entity. Form an LLC before you cash your first estate-buy check. A coin dispute — buyer claims the slab was tampered with, or you bought a stolen collection from an heir who didn't actually own it — can swing $5,000-$50,000. File the LLC (limited liability company), get the EIN (employer identification number) free at the IRS link above, open a Mercury or Bluevine business account, and run every dollar through it.

Licenses + sales tax. Most states require a secondhand dealer or pawnbroker license for any business that buys coins, jewelry, or precious metals from the public. Many cities layer on a 30-day police hold rule — you log seller's ID into a state database (LeadsOnline is common) and make inventory available for police inspection. Non-negotiable in California, Florida, Illinois, and most populous states. Call your state's Department of Revenue and your city clerk before you spend a dollar on inventory. Sales tax nexus triggers at $100,000 OR 200 transactions in most states — Sales Tax Institute. eBay collects and remits in 45 states + DC + Puerto Rico. Many states exempt investment-grade bullion and numismatic coins from sales tax — confirm at Industry Council for Tangible Assets. Get a state resale certificate so you don't pay sales tax on inventory bought at auction.

Industry-specific risk: IRS Form 8300 + grading + provenance. Federal law requires IRS Form 8300 for any cash transaction over $10,000 within 15 days — see IRS Form 8300 instructions. Includes related payments aggregating to $10K within 12 months. Penalties are vicious. PCGS and NGC grading runs $20 (bulk economy, 65+ business day turnaround) up to $200+ for rush — see PCGS service levels. Plan 2-12 week turnarounds. Professional Numismatists Guild (PNG) membership signals credibility but requires reference checks and 5+ years of dealing — see PNG membership requirements. Year 3-5 goal, not month 6.

Marketing & First Customers

Coin sales are listing reps and reputation reps, not paid ads. You don't run Meta in year one — you list consistently on eBay, build feedback, and answer DMs fast.

Channels that work:

eBay store with feedback discipline. Largest single market for graded coins. Ship same-day, respond to every message inside 4 hours, accept 30-day returns. Hit Top Rated Seller by month 6 and your listings rank above larger dealers.
Heritage Auctions and GreatCollections consignment. For anything above $2,500 graded value, consign to Heritage or GreatCollections. Commission runs 10-20% but the net is usually higher than retailing yourself.
Local estate-sale companies and probate attorneys. Email 10 estate companies and 5 probate attorneys in your county. Offer same-week appraisal. One signed referral relationship beats 50 walk-ins. Meta CPC at ~$0.45 (WordStream Facebook Ads Benchmarks 2025) is cheap, but coins is a trust market — referrals beat ads for years before paid ever pencils.

First 30 sales. Price your first 30 eBay listings 8-12% under comparable graded comps. You're buying feedback. The 50-feedback threshold is when buyers stop hesitating on a $400 slab.

First 90 Days

Week 1-2 — File the LLC, get the EIN, open business banking, apply for your state's secondhand dealer or pawnbroker license. Don't buy a single coin from a private seller before the license is in hand.
Week 2-3 — Subscribe to the Greysheet (CDN Publishing) and order the latest Red Book. Set up a PCGS or NGC submission account. Apply for an APMEX wholesale account if you'll deal in bullion.
Week 3-4 — Build the photo studio. Macro lens, light tent, tripod, neutral backdrop. Practice on 20 coins from your own collection until slab serial numbers are razor-sharp.
Week 4-6 — Make your first estate buy. Start small — $1,500-$3,000 acquisition. Bring cash, ID, a buy ticket, a 10x loupe. Pay 65-70 cents on the dollar of fair retail, not 85.
Week 6-8 — Cherry-pick the lot. Send 8-15 grade-worthy coins to PCGS economy tier. List raw culls and bulk silver on eBay immediately for cash recovery.
Week 8-10 — Open your eBay store, list the first 30 raw and graded singles. Price 8-12% under comp. Ship same-day. Reply within 4 hours.
Week 10-11 — Receive grading results. Photograph each slab and list within 48 hours. Anything that came back lower than expected — sell raw or as a bundle, never relist as the wrong grade.
Week 11-12 — Audit which coins sold fast. Email 5 estate companies and 3 probate attorneys to introduce yourself. Target: ~$1.5-$2.5K net by week 12, eBay feedback past 30.

Common Pitfalls

Grading common-date coins that don't justify the fee. Sending a 1922 Peace dollar at MS-62 to PCGS at $25 means you spent $25 to add maybe $8 of value. Fix: Pre-grade every coin under a 10x loupe and check PCGS Photograde plus current Greysheet bids. If projected slabbed value isn't at least 3x grading fee plus spread, sell it raw.

Skipping IRS Form 8300 on a big cash buy. A $14,000 cash buy with no Form 8300 filed and no seller ID log is how dealers lose their license and face federal penalties. Fix: File Form 8300 within 15 days of any cash transaction over $10,000, including aggregated payments. Build it into your buy-ticket workflow so it can't be skipped.

Buying from strangers without provenance. A $4,000 lot offered cash-only by someone you've never met is how stolen collections move. Trace it back to a burglary and your insurance won't cover it. Fix: Always log seller ID into your state database, run the 30-day police hold, and pass on any deal where the seller refuses ID or insists on cash-only with no paperwork.

Underestimating melt-value risk. Buying a "rare" coin at $400 that turns out to be a common-date silver piece worth $24 in melt is a $376 lesson. Fix: For any coin you can't immediately ID, weigh it on a 0.01g scale, check spot at Kitco, and don't pay more than melt plus 20% until you've cross-checked the date and mintmark in the Red Book.

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