It is very important to find good coin dealers who can help you in starting a new coin collection and also in selling your collection. Its easy to find a coin dealer but all cannot be considered as honest ones. Here are some advices that you should be considered before dealing:
1. Is he famous among other coin dealers ? : First thing to consider is that is your dealer famous with the others around. If a dealer is not famous among others then chances are that he may not be experienced enough or he may not be a reliable one. If a dealer shares a bad reputation with his peers then also he must be avoided. Especially when you are collecting coins as an investment.
2. Is he experienced enough ? : When you invest in a land, gold, shares, mutual funds etc. you rely on expert advice because its your investment and you don't want to take any chance with it. Similarly If a coin dealer is not experienced enough then chances are that he may not give you proper advice regarding what to collect. People cannot become coin expert just by reading some books, this is an art which comes with experience. If you are buying coins as an investment then do not go to a coin dealer unless he is an considered a knowledgeable and honest person in his field.
3. Does he have sufficient asset ? : If your dealer is experienced, reliable and well known then he will be having long list of old customers & most probably he will be having a good asset to his name. A dishonest coin dealer will not be well known and certainly will have very few customers. So he might not have a good amount of asset to his credit. Also if a dealer has sufficient asset then chances are that he will not run away and will continue his business for long. So you might find him at the same place even after few months/years, if the coin sold by him is found to be fake. If a dealer is financially stable then he will be in a position to return your money or even compensate for his fake coin. Although these days dealers provide a certificate along with the coins stating its authenticity but we know even certificates can be fake.
4. What respect does he have for you ? : A dealer who does not give much respect to you or your collection may actually be trying to show that your collections are not worth much. This gesture is to give a feeling to collector that his collections are not worth much. This sometimes makes a collector sell his collections to the same dealer thinking that its no longer profitable to keep the coins with himself. Unfortunately, some dealers just do the opposite to get a good bargain. So you must act wisely before choosing a coin dealer.
5. Does he belong to an association ? : Dealers have to fulfill several conditions before joing a particular renowned association. This will give you some assurance about his credibility.
1. Is he famous among other coin dealers ? : First thing to consider is that is your dealer famous with the others around. If a dealer is not famous among others then chances are that he may not be experienced enough or he may not be a reliable one. If a dealer shares a bad reputation with his peers then also he must be avoided. Especially when you are collecting coins as an investment.
2. Is he experienced enough ? : When you invest in a land, gold, shares, mutual funds etc. you rely on expert advice because its your investment and you don't want to take any chance with it. Similarly If a coin dealer is not experienced enough then chances are that he may not give you proper advice regarding what to collect. People cannot become coin expert just by reading some books, this is an art which comes with experience. If you are buying coins as an investment then do not go to a coin dealer unless he is an considered a knowledgeable and honest person in his field.
3. Does he have sufficient asset ? : If your dealer is experienced, reliable and well known then he will be having long list of old customers & most probably he will be having a good asset to his name. A dishonest coin dealer will not be well known and certainly will have very few customers. So he might not have a good amount of asset to his credit. Also if a dealer has sufficient asset then chances are that he will not run away and will continue his business for long. So you might find him at the same place even after few months/years, if the coin sold by him is found to be fake. If a dealer is financially stable then he will be in a position to return your money or even compensate for his fake coin. Although these days dealers provide a certificate along with the coins stating its authenticity but we know even certificates can be fake.
4. What respect does he have for you ? : A dealer who does not give much respect to you or your collection may actually be trying to show that your collections are not worth much. This gesture is to give a feeling to collector that his collections are not worth much. This sometimes makes a collector sell his collections to the same dealer thinking that its no longer profitable to keep the coins with himself. Unfortunately, some dealers just do the opposite to get a good bargain. So you must act wisely before choosing a coin dealer.
5. Does he belong to an association ? : Dealers have to fulfill several conditions before joing a particular renowned association. This will give you some assurance about his credibility.
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