People have been collecting coins since the Renaissance, a hobby that dates back hundreds of years. Collectors of historical coins, rare coins, gold coins, and mint error coins are mostly attracted to this hobby. It is true that there are many of these coins out there that are worth good money, but there are also many counterfeit and remade coins that look just like their more valuable counterparts, but are worth much less. Therefore, coin collectors who are interested in selling coins or purchasing more coins should know how to identify a trustworthy coin dealer.
It is easy for collectors who do not have the same level of expertise to be deceived by fake coins and coin dealers. You should ensure that the coin shop you go to is a reputable dealer before buying or selling coins.
RESEARCH THEIR EXPERIENCE
Coin dealers who have been in business for a long time are generally better equipped to appraise rare and valuable coins. Coin collectors consider themselves to be investors, so they seek the advice of a reputable and knowledgeable coin dealer who is able to provide accurate information. It is best to go into a coin shop and speak with their professionals if you want to determine a coin buyer’s experience and expertise. The following questions should be asked:
- When did you start your business?
- Which areas of expertise do you have?
- Do you have a physical location?
- Are you working with industry partners?
By answering these questions, you will get a clearer idea of the dealer’s experience and specialization. Being a member of either the PNG or ANA is positive because it means that the coin dealer has achieved a satisfactory level of competence and ethics to be eligible for membership in these organizations. Partnering with coin dealers in the industry also shows respect and continuity with their peers.
ASSESS THEIR ETHICS
When evaluating a coin dealer, ethics are crucial since it is too easy for dealers to rip off people who do not know what their coin collections are worth. If a coin dealer is a member of PNG or another similar organization, they have demonstrated their commitment to ethical practices required for membership.
The following tips can help you determine whether a coin dealer is reputable:
- Any reputable dealer should offer free appraisals that are risk-free and obligation-free.
- You should receive a cash offer for your coin collection along with an appraisal.
- There are reputable coin dealers who will come to your home or office to appraise your coins.
If you are looking for a reputable coin dealer to sell your collection, make sure you look for the characteristics described above when choosing a dealer. Dupre Coins is one of the most trusted coins and precious metals dealers in Mandeville LA. Want to contact them? Call 4962 LA-22