Coin dealers: what you should look for

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If you are buying or selling coins, reputable coin dealers are a must to get an accurate assessment and a fair price. But what should you be looking for in a coin dealer?

Many coin dealers are family owned businesses and have been trading for 40 or 50 years. Some target collectors and some are tailored towards investors, and trading in specific areas of numismatics. No two coins are alike, and the bottom line is your coin is worth whatever someone is willing to pay for it. Below are some things to consider when considering coin dealers.

Coin dealers reside in a variety of locations

Coin shops

Visiting retail coin shops in your local area gives you the opportunity to inspect coins close up and first hand before you buy them. Shop-based dealers in fixed locations are likely to have vast experience and knowledge in the field of numismatics, and will be able to grade your coins and provide valuations.

Online coin dealers

Many established coin dealers also have extensive web sites or are solely based on the web.Sites are eager to buy and sell coins and will visit to inspect large collections. Online auctions are held daily. Many acquire a variety of new stock on a daily basis and encourage visitors to check back regularly.

Mail order

Is an easy and convenient way to buy and sell coins. Coin dealers working through mail order can offer reduced prices due to low overheads. Before selecting a mail order dealer, check out that dealer’s policies on return and inspection – if you don’t get the coins you paid for, you need to be able to send them back.

Are they reputable?

Look into good coin dealers the way you would research any other professional for a service. Credentials are easily checked out online. Working with a dealer that’s a member of one or more professional organizations can make it simple and painless to trade and exchange coins on a regular basis. Coin dealers must meet a set of strict criteria before being accepted into the Professional Coin Grading Service (or PCGS), while CCS or Coinnet are two major coin dealer networks in the US.

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