We've identified ten attributes that you should look for before you conduct business with a coin dealer. It’s important that your coin collector be honest, transparent with respect to their rates, knowledgeable, established in the industry, have a solid reputation, conduct business in a professional manner, offer competitive rates, use discretion, patiently answer all of your questions and provide a safe environment in which to conduct business. Finding a dealer that possesses all of these qualities will go a long ways toward having a successful experience.
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1. to Look for in a Coin Dealer10 Essential Qualities
2. Whether youre new to the coin industry or are agrizzled
veteran, the coin dealer that you choose todo business with is
possibly the great contributingfactor to your
3. A simple search on the internet will reveal dozens oflocal
and online coin dealers, but how do youseparate the wheat from the
chaff?
4. In this article, weve explore the 10 essential qualities to
lookfor in a coin dealer to help increase your chances for
successwhether youre in the market to buy or sell coins.
5. HONESTY As in all walks of life and in anybusiness venture
that you mightwant to pursue, dealing with anhonest individual is
essential.From a buying perspective, youwant to make sure that
yourepurchasing an authentic coin thathas not been altered in any
way.From a selling perspective, you want to be surethat the coin
dealer is relaying accurate informationand is offering you a fair
price for your coins.
6. In some respects, thisattribute is similar tohonesty, but
from ourperspective, it hasmore to do with thebuying and
sellingrates of your coins.Its important that the coin dealer be
forthright with respectto the prices that theyre offering you for
your coins and thattheyre willing to share with you the price
guides and coinresources that they use to determine their offer
price.TRANSPARENCY
7. This is really where a coindealer can separate himselffrom
the competition.Individuals that have little tono knowledge of
coins,including key date, lowmintage or variety coins,arent able to
identify thesecoins for you.This means that you could potentially
be leaving hundreds,if not thousands of dollars on the
table.KNOWLEDGEABLE
8. An established coin dealer who hasyears of experienced is
typicallymore knowledgeable than a start-up.While not all
established companiesare well run, the assumption is thatthey must
be doing something rightto have endured in a competitiveindustry
over a number of years.Avoid brand new or fly-by-night companies,
as theyoftentimes are established to take advantage of thelatest
trend in the industry, such as rising goldprices.ESTABLISHED
9. The reputation of a coindealership is extremely
important,and is something that you shouldtake the time to research
beforeentering into a transaction. Thismay have been difficult to
do inyears past, but with the prevalentuse of the internet, and
inparticular, the popularity of socialmedia, its now possible to
find outanything about a company thatyou would like to know.Also,
dont forget to research a companysstanding with the Better Business
Bureau.REPUTABLE
10. Always seek to conduct businesswith professional coin
dealers andcoin shops. This includes, but isnot limited to your
initialimpression of the person that youspeak with, the
surroundings oftheir office, and the coinconsultant that youre
workingwith. A true professional wontallow their emotions to get
thebest of them.There are times when you may not be able to agree
on a price.PROFESSIONAL
11. We all want the best deal thatwe can possibly get
whenbuying or selling products andcoins should be no
different.While the coin industry is acompetitive industry, not all
coindealers buy and sell coins atprevailing market rates.A coin
dealer who is willing to share with you their buy orsell rates on
their website or over the phone typicallyoffer among the most
competitive rates.COMPETITIVE
12. We all enjoy our privacy, and it isexpected when you deal
with personalmatters, such as your health, financialtransactions,
etc. Dealing with a coindealer should be no different. Thismeans
that you should expect for yourtransaction to remain
private.Additionally, your personal informationshould not be shared
or sold to anyoneoutside of the company.Be sure that the coin
dealer you have selectedrespects your privacy and that they will
keep allaspects of your transaction confidential.DISCREET
13. If youre new to the coin industry, orhave been designated
as anexecutor over an estate whichincludes a large coin collection,
itslikely that you have a number ofquestions. While
conductingresearch on the internet is helpful, itsoftentimes not
possible to obtainanswers to all of your questions.The coin dealer
that you select should be willing to take asmuch time as is needed
to make sure that youre completelycomfortable before entering into
a transaction.PATIENT
14. This attribute is oftentimesoverlooked, but is
extremelyimportantespecially if you havethousands of dollars of
coins thatyoure buying or selling. Avoid coinbuyers in undesirable
areas. Makesure that youre in a safe environmentand that the coin
dealer offers adesignated area away from thegeneral public in which
to conductbusiness.Coin dealers that offer to see you by
appointment will ensure thatyour transaction remains out of the
view of others.SAFE
15. Finding a dealer that possesses all of thesequalities will
go a long ways toward having asuccessful experience.
