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Coin dealers can not only easily con collectors who are new to the game, but those who are experienced as well. It is not difficult to find sites that say “click here now for the best deals” but be wary for they may be a bait. Best to know what to look for when you type in “coin dealers near me”.
- Years of Experience
Knowledge of a particular subject or task is gained mostly through experience. It is then safe to deduce that more years of experience is tantamount to extensive knowledge. An experienced and knowledgeable coin dealer has a vast understanding of numismatics. You may rely on them to give you invaluable advice on how you can make the most of your coins. May it be it as an investment or source of some extra income.
More years of experience also means the dealer has established themselves in the business. This being in contrast to some shady fly-by-night who will easily rip you off and run away.
- Financial Stability
A coin dealer’s good financial status indicates how stable his business is. This comes into play when disputes arise and you may need need to be reimbursed.
A dealer who has a brick- and- mortar shop gives one a feeling of security. Having a physical store hints on stability. Also, knowing there’s a place to come back to in case of any problem gives one a sense of assurance. This is not to say, though that online dealers or those you only find in traveling coin shows are not legitimate.
- Recognition by Peers
A reputable coin dealer is in good standing with their peers. Business owners would shy away from dishonest colleagues for fear of being associated with them. A coin dealer who is a member of a recognized business guild is safe enough to transact with.
It is always wise to ask around the community of coin enthusiasts to get some feedback on whom you are negotiating with.
- Ethics
It would be difficult to evaluate your dealer’s business ethics by mere observation. Business communities and active coin collectors may have heard about them and could offer some input.
- Recourse in the Event of a Dispute
Being ripped off is something nobody would ever want to experience. And worse, having to go through the arduous ordeal of filing lawsuits and going to court. And even that is never a guarantee that you would get your hard-earned investment back.
Ensure that your transactions are authentic and secure. Find a coin dealer who is a member of the Professional Numismatists Guild (PNG).
PNG is an association of coin dealers. It implements strict requirements and the highest standards. Every member is reviewed by their peers for ethical conduct. It is quite vigilant in resolving disputes between members and their clients. You are then assured of recourse in case something goes awry.
By handling your coins wisely, your return of investment will be maximized. Take the time to do a little research when trying to find a local coin dealer. Be cautious of coin dealers if you consider your coin collection an investment.
You can be sure that you can tick off all the items on your checklist when you click here now in U.S. Coins and Jewelry.
