If you want to take your coin investing and collecting seriously, then you need to deal with quality gold dealers. Fly by night operations, auction websites, and the like can be the fast path to buyer’s regrets when that too good to be true deal turns out to be just that! So, exactly who should you be dealing with?
The two most popular options are finding a precious metals dealer locally, or find a trustworthy one online. Both have their advantages. Local dealers give you that in person treatment, and allow you to see and touch everything before you buy. However they have overhead to pay, such as building rentals, employees and the like, which may cause higher prices. Online dealers do not have to have shop space, and can save a lot of money on other areas “in person” dealers cannot. They also tend to have a much larger inventory. Another advantage of shopping online is the fact that you have many more options and dealers to choose form than you do if you stick with only local options.
Gold dealers, both online and in person, need to have a good reputation in their communities and to be in business for a long time. Happy customers and good reviews are signs that you are working with a quality dealer, and many years in service can tell you that they have repeat customers to help them stay in business. You can check the Better Business Bureau and other rating sites for a good idea of the overall satisfaction with the company.
Another thing to look for is if the company is associated with the PNG (Professional Numismatists Guild) or other prestigious coin groups as they usually have to adhere to high standards to be members. Many groups require their members to take oaths to treat customers fairly, and be honest in the trade. For gold dealers to be a part of these groups, they also often have to have been in the business for several years, and have a high amount of assets meaning they are likely to stay in business. They also usually have a required course of conduct for settling disputes.
Finding a coin dealer that you feel comfortable with and who has great prices are the keys to enjoying your experience. Look for coin dealers in your local area and online who meet these high standards and you are sure to have smooth transactions.