A coin dealer is one of the greatest resources that we coin collectors have.
coin dealers are coin experts that can help you :
- Buy coins
- Sell coins
- Get a coin appraisal
- Locate hard-to-find coins
- Learn more about your coins
Finding a mint trader is easy. But shopping approximately for a adept coin trader who has the coins you need, is experienced, and follows honest, ethical commercial enterprise practices may require a short more influence. The best coin dealers:
- Use fair business practices;
- Are knowledgeable about the coins they buy and sell; and
- Have earned recognition from their peers and by organizations such as the American Numismatic Association (ANA) and Professional Numismatists Guild (PNG).
How do you find a coin dealer who meets these criteria ? here are 5 tips to help you find a coin dealer who’s reputable and reliable:
#1 – Ask Coin Clubs For Their Recommendations
If you ’ re a extremity of a mint club, find out what coin dealers your chap coin club members patronize. Chances are, your more have mint club friends are familiar with the better dealers in your neck of the woods and would be glad to make some mint dealer recommendations for you. even if you aren’t a member of a coin club, you can still reach out to local coin clubs on social media. Just ask if they have any recommendations on coin dealers that they ’ ve had thoroughly experiences with. Some mint dealers are nationally known — they even publish advertisements in mint magazines and newspapers. You may get some candid feedback about larger, more well-known coin dealers if you ask around on coin collector forums such as CoinTalk and Coin Community .
#2 – Make Sure The Coin Dealer Has A Solid History Of Good Business Practices
If you find a coin principal who practices solid business ethics, you ’ ve smitten gold.
There are many great coin dealers around, but there is also the occasional coin dealer who thinks they can:
- Get away with selling misrepresented coins.
- Charge more than fair market value.
- Refuse to offer buyers recourse on their purchases.
This is actually a dishonor — because the few bucks that coin trader might unscrupulously make on a sale will likely pale in comparison to the amount they will have to pay in lawsuits or lost occupation if the bible gets out about their unfair business practices. Honesty is constantly the best policy, and it ’ s a commercial enterprise policy every coin trader should live by. Thankfully, many of them do. many honest coin dealers are listed with the Better Business Bureau (BBB). Before shopping at any coin patronize, be sure the mint dealer has good BBB ratings and has no negative marks — such as many complaints or open customer claims.
By the means, if you ’ re going to buy coins on eBay, be sure to check the coin dealer’s feedback ratings on eBay first. EBay coin dealers who have solid 99 % ( and higher ) ratings and a feedback grudge in the thousands are normally the better coin dealers. There ’ sulfur relatively short risk in buying coins from an eBay mint dealer — so long as you follow the same advice in this article that you ’ d use when denounce around for a bricks-and-mortar coin principal .
#3 – Make Sure The Coin Dealer Is Knowledgeable About The Coins You Wish To Buy & Sell
The coin populace is reasonably wide and divers. It ’ s virtually impossible to know everything about every coin.
This is why many coin dealers specialize in only certain types of coins. Some coin dealers focus on classical U.S. coins, while others specialize in mod coins, or bull coins, or worldly concern coins. While some coin dealers will sell apparently everything under the sunday, even those dealers specialize in something or other. Often, one coin denounce will have 2 or 3 associates, and each will have his or her own sphere of expertness.
As a coin collector, the most frustrating experience is traveling to a mint shop entirely to find the principal doesn ’ triiodothyronine carry sealed material you want, or the mint trader has no need to buy the types of coins you were hoping to sell. This is why it’s always a good idea to call coin dealers ahead of time. Make sure they have what you want to buy, or are will to buy the coins you want to sell. If you want to buy coins that are unusual or ones that are not much encountered in the gather world, this is where finding barely the right dealer will specially pay off. There are coin dealers for every niche of the avocation — even the more hidden areas of coin collect. Take a little time to find barely the right coin dealer ( one who specializes in the types of coins you wish to collect ), and you ’ re certain to be in thoroughly hands.
#4 – Find A Coin Dealer Who Is Recognized By Their Peers
It might seem that being a coin dealer is a competitive business — and it is. But this doesn ’ thyroxine mean that all coin dealers are barbarous individuals who care lone about themselves and making money. Some of the best coin dealers are those who are true champions of the hobby and have wide social networks that include many other coin dealers and early hobby professionals. many of the nation ’ sulfur leading mint dealers count other coin dealers among their best friends and darling business contacts. And they ’ rhenium frequently more than uncoerced to contribution some good words about boyfriend coin dealers that they know and respect. The very best coin dealers are held in high respect by their peers. This can help pay off for you ampere good — because well-connected coin dealers can reach out to fellow dealers to help you find the coins you want for your collection. so, if you want a in truth unusual or rare mint that you can ’ metric ton seem to find anywhere, chances are your coin dealer will know precisely who to reach out to in your pastime for special coins. Sourcing coins from early dealers and selling them to their own customers is how many coin dealers fulfill their clients ’ mint want lists.
#5 – Look For A Coin Dealer Who Is Listed By PNG & ANA
Among the best resources for finding reputable mint dealers are the coin trader directories on the ANA and PNG sites :
- The American Numismatic Association has a searchable list of coin dealers who are members of the ANA. This is a very helpful tool to help you find a coin dealer near you who is a member of one of the world’s most respected coin clubs.
- The Professional Numismatists Guild, a highly respected organization designated for some of the industry’s best coin dealers, also has a searchable directory of coin dealers.
A Little About The Professional Numismatists Guild
The PNG was founded in 1955 on the motto “ Knowledge, Integrity, Responsibility. ” While there are many big coin dealers who are not on the list, searching the PNG directory of coin dealers is a childlike means to find those who are known to be among the best in the diligence. PNG membership requires dealers be at least 21 years old, have a web worth of at least $ 250,000, offer fair recourse options for their customers, and agree to the PNG Code of Ethics. The PNG besides has a Collectors ’ Bill of Rights. You truly can ’ deoxythymidine monophosphate go wrong if you ’ re dealing with a coin dealer who is a member of the PNG.
More Helpful Info About Coin Dealers
In addition to the links I ’ ve included above, hera are some other resources to help you find a coin dealer who is reputable and reliable:
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I ’ m the Coin Editor here at TheFunTimesGuide. My love for coins began when I was 11 years old. I primarily collect and study U.S. coins produced during the twentieth century. I ’ m a penis of the American Numismatic Association ( ANA ) and the Numismatic Literary Guild ( NLG ) and have won multiple awards from the NLG for my work as a mint journalist. I ’ m besides the editor program at the Florida United Numismatists Club ( FUN Topics magazine ), and author of Images of America : The United States Mint in Philadelphia ( a book that explores the colored history of the Philadelphia Mint ). I ’ ve contributed hundreds of articles for respective mint publications including neologism, The Numismatist, Numismatic News, Coin Dealer Newsletter, Coin Values, and CoinWeek. I ’ ve authored closely 1,000 articles here at The Fun Times Guide to Coins ( many of them with over 50K shares ), and I welcome your mint questions in the comments below !
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