It is easy to find a coin dealer to make a transaction with, but finding a qualified and honest dealer is a lot more challenging. There is little doubt that coin dealers are probably the most criticized players in the coin industry. However, there are still lots of honest coin dealers out there; you just have to do thorough research to get the best coin dealer.
You want a financially stable coin dealer, knows numismatics, respected by his peers, and demonstrated care for ethics. If you are looking for the best coin dealer, we have some tips which can help you make the right decision.
What is the dealer reputation?
Conduct a diligent search before finalizing a deal with a coin dealer. For instance, besides conducting a general online search for that coin dealer Cleveland, you should also check the Better Business Bureau for more information. Enter all the details that you can on the website to obtain information on the coin dealer’s prior dealings and current status. When selling or buying any coins, it is vital to deal with reputable coin dealers.
Is the Coin Dealer Experienced?
It is better to contact an expert coin dealer with lots of experience; this is a distinction which cannot be acquired overnight. It is also beneficial when the coin dealer’s experience has to do with the type of coins you’re trying to buy or sell. For instance, a silver coin dealer may not have an interest in rare coins collection.
You should also check if the coin dealer is a member of reputable coin organizations such as the Professional Numismatists Guild (PNG) or the American Numismatic Association (ANA). Professional Numismatists Guild, in particular, will only accept an individual as a member only if they have been in the industry for five or more years.
Look for longevity
Although the massive majority of coins on the market are authentic, sometimes some doctored, altered, or counterfeit turn up. You want to be assured that the dealer will probably still be in business years from now in case that investment turns out to have been state-of-the-art counterfeit. Although encapsulated coins and third-party certification services have somewhat eased this concern, a coin dealer’s financial stability is a good sign he probably might be able to offer repayment in case of a dispute.
What are the coin dealer’s ethics?
How a coin dealer deals with a potential customer gives you a glimpse into their ethical standards. For instance, if a coin deal makes an offer to buy your coin without considering additional details such as condition, rarity, the mintage of your coin, then he/she probably isn’t operating above board. A coin dealer with good ethics will inspect the coins in your collection to make sure that an accurate and thorough evaluation is done before making an offer.
The bottom line
It is essential to find a reputable coin dealer that you can trust, which is why you should take your time to do due diligence. And try not to fall for empty promises. For further information about how a coin dealer Cleveland can best serve you, please contact Ohio Estates Coin & Jewelry. We are a state-licensed coin dealer in Ohio, and we have the integrity and expertise to take your experience to the next level.