d) Coin clubs. Coin clubs offer members opportunities to buy, sell and trade coins. They also sponsor coin shows, providing local collectors access to dealers and collectors on a regional or state basis. Larger clubs can attract dealers from across the country.

More advanced techniques.
a) Seek out reputable dealers (for more serious collectors).

It's becoming increasingly difficult to find local coin dealers or retail hobby shops that boast a wide selection of collectible coins but they do exist. Understand that you will be paying retail prices at a coin shop, as you should, he has an overhead too. Only buy coins certified by PCGS or NGC.

Since many dealers start out as collectors they often turn out to be valuable sources of expertise more than willing to help out novice collectors with tips or reference books that are helpful when researching potential purchases.

b) Mail order and Now the Internet

Many collectors enjoy the convenience and privacy of buying coins by mail order or now on the Internet. Today's mail marketplace offers a wide variety of purchasing opportunities. But be prepared to make your decision to buy a coin based on a written description that includes the grade and a quoted price.

c) Auctions

Another popular way of acquiring coins is from auctions. Potential buyers a usually given some time to inspect the coins being sold prior to the auction.

It's a good idea to establish a bidding limit before an auction begins. Set a maximum price on a given coin based on research done prior to the auction. Don't get caught up in the excitement that is often generated by the bidding process.

Most auction firms charge a 10 percent buyer's fee, meaning 10 percent of the winning bid is added to the total price of your coin. The fee can be higher (15% for many).

Most large auction companies produce catalogs featuring photographs of the coins that will put up for sale. Catalogs are generally mailed to potential buyers. Collectors who are unable to travel to a given auction site often place bids by mail. The catalog is likely to include a form for placing bids via US Mail along with deadlines and terms of the sale.

A Few Final Tips
a) Comparison shopping is the easiest way to protect yourself. Make sure you're comparing Apples to Apples.

b) If it looks too good to be true, it probably is not true.

c) Become familiar with the policies of mail order companies, paying special attention to their terms and return privileges.

d) Carefully inspect your purchase immediately upon receipt to verify that you've received the item you ordered.

e) Carefully inspect any coin you might purchase at an auction before bidding on it. If necessary, pay a professional dealer to verify grades and value of coins that interest you. That may be the best 10% you ever pay.

f) Regardless of the source, know what you are looking for and what you are willing to pay for it.