To avoid a nightmare when buying rare coins, finding the right coin dealer is imperative. You don’t want to be bamboozled or otherwise misled, particularly in an online environment. Here is a quick guide to having a successful transaction when buying or selling coins.
Is the coin dealer reputable, with experts on staff? Look to see if the dealer has a staff of experts that are members of coin associations like the Professional Numismatic Guild, Professional Coin Grading Service, American Numismatic Association, and other professional organizations. These associations often require members to adhere to a specific set of ethics. Confirm the dealer’s membership with the organization itself.
Does the coin dealer offer live assistance? Look for a dealer with both an online and an offline presence. You will undoubtedly have questions about your purchase and only by talking to a human can you have your concerns allayed. A knowledgeable dealer can provide the kind of direction that a computer cannot.
Does the dealer have ready access to a range of rare coins? Ideally the coin dealer will have a wide selection of quality coins and a range of prices in their inventory. Such a dealer has probably been in business for a long time and has gained a solid reputation with both buyers and sellers alike.
Can the dealer provide accurate advice? Sometimes expert guidance is the difference between making a solid investment decision versus a poor one. All collectors have different goals, and an experienced dealer is able to assist a collector in meeting his or her particular goals.
A reputable coin dealer is interested in having repeat business and retaining clients, and the only way to retain a customer is through accurate, honest advice. There are dealers who provide just this kind of personal service.