Coin Dealer - Find a Reputable One

If you have plans to use a coin dealer, you need to take the time to find a reliable one. This is not always as easy as you might think. Anyone can call themselves one, but you need to be sure that you are getting top dollar for your coins. These tips will help you find one that is reliable and will help you properly evaluate what your collection is worth.

First, look for experience. This is perhaps the most important factor to consider. Only experienced dealers will really know the value of the coins they see. Without experience, the dealers are just basically guessing. You could end up getting far less than your coins are worth. If you are on the buying end, experience is even more vital, because these dealers can actually give you advice as far as what to look for as you look to make purchases of coins. Look at a dealer's credentials before you begin to use him.

Next, find out if he is a member of any professional associations or guilds. A coin dealer who has been accepted into one of these groups is going to be one with a solid reputation backing his work. Other dealers are not going to let a shoddy one into these exclusive groups.

Another way to locate a reputable one is to find one with good assets. Perhaps he owns a nice building or has a stable presence in the local community. If the coin dealer has strong assets and roots, he will likely still be around if you have problems with one of your investments. Fakes are getting easier and easier to distinguish, but some still slip through the cracks. If you end up with a dud, you want to know that the person who sold it to you will be able to recompense you for the money you lost.

Ethics are another thing to consider. Watch how the individual interacts with customers, particularly those who are more vulnerable. Go to a show, for instance, and see if the dealers take the time to look, really look, at the coins presented to him. You will be able to spot the ethical ones if you take the time to do this. These are the ones you want to work with. Remember, it only takes a few minutes for a knowledgeable individual to look at coins, and ethical ones will take that time. They will also represent their merchandise fairly, not overinflating the value of a coin that is worth far less than you would expect.

Finally, the last consideration when choosing a coin dealer is what recourse you can have if you do get a dud. Most will stand behind their products, but there can still be disputes. Ask what recourse you have if you have a problem in the future. A reputable individual is not going to balk at this question, and will have a ready answer to give you.