Finding an old coin buyer is not that hard to do.. Finding a coin dealer who is honest that is a totally different story. Finding a coin dealer is really tough.
When you want to sell something that has been passed down to you or invest in money the person you do business with is very important. The person you choose to do business with matters as much as the rare inheritance or the high-value currency itself. You do not want to do business with a dealer who’s not trustworthy and might disappear suddenly. You also do not want a dealer who says they will give you ten percent more than what your collection’s worth, without even taking a look at the rare inheritance or the high-value currency collection.
When you are looking to do business with a coin dealer there are some things you need to think about. You have to make sure you are working with someone who’s honest and fair.
Here are the 5 questions you must ask before you shake hands with any coin dealer.
I have been doing this for a long time so I have a lot of experience with it and my experience has taught me a lot of things that I can use to help people and that is why my experience is very valuable to me and to the people I work with and I think my experience is something that I can always count on and I am happy to share my experience with others because I know that my experience can be very helpful, to them.
People who collect coins have a saying: “Buy the book before you buy the coin.” This means you should learn about coins before you start buying them. If you do not know a lot about coins yourself you need to get help from someone who’s an expert, in coins.
• The Red Flag: You should be careful when dealing with the Red Flag. The Red Flag is when you meet people who do not know what they are doing or those buyers who just made a Facebook page a days ago. They are the Red Flag. You have to watch out for the Red Flag because these people’re not serious, about buying things. The Red Flag is a warning sign.
• The Green Light: You should look for dealers who’re really good at what they do and can tell you why a coin is worth a lot of money. If you do not think a beginner is good enough to handle your stock portfolio then you should not trust them with your gold coins either. The gold coins are an investment so you want to make sure you are working with a dealer who knows what The Green Light is all, about and that is finding the right gold coins for you.
“Will you be here in 5 years?” (Financial Stability)
Let us say you purchase an expensive coin today. Then two years go by. You discover that the coin is actually a fake made with advanced technology. The coin is a high-tech fake. You decide to go to the dealer who sold you the high-tech fake coin.. When you get to the place where the dealer used to be you find out that their shop is no longer there. The dealers shop is really gone. You try to call the dealer on the phone. It is not working. The dealers phone is completely disconnected. You are left with a tech fake coin and no way to get in touch with the dealer who sold it to you. The tech fake coin is now pretty much useless, to you. Old coin buyer helps you find buyers for your old coins.
• Thiss important: Established dealers have things they own and a good name to protect. They have money to pay you back if they make a mistake. People who are not trustworthy and just want to make quick money do not give you this kind of safety. Established dealers are careful because they want to keep their name and the things they own. Established dealers will help you if something goes wrong.
3. What do the people you work with say about you when you are not around what is your reputation like, among your peers?
The world of coins is really small. When it comes to coins, the best way to protect yourself is to have other people look at what you’re doing this is called peer review. The coin world is like a community and in this community peer review is very important, for coins.
• The Gold Standard: Look for membership in professional guilds, such as the PNG (Professional Numismatists Guild).
• These organizations check out their members to make sure they are trustworthy. If a dealer is not liked by the people they work with then you should probably not trust them either.
“Do you have time to look at the ethics?”
This is the “Little Old Lady” test.
• The Unethical Dealer: This person sees a customer who has a jar of coins and they do not even bother to look at them properly. They just give a low price, for the coins so they can make some money quickly. The Unethical Dealer is hoping that the customer does not know the value of the old coins they have. The Unethical Dealer just wants to take advantage of the customer and get the coins for a cheap price.
• The Ethical Dealer: This person takes an extra time like two or three minutes to look through the things you have and tell you what they are really worth. The Ethical Dealer treats the things you are selling. You, the customer, with respect no matter how big or small the deal is. The Ethical Dealer does this because they want to be fair, to you and the things you are selling.
What happens if the people involved do not agree with each other when it comes to Recourse?
The question is what if we have opinions, about Recourse?
In the case of Recourse what are we going to do if we disagree?
So a deal falls apart what do you do then? You have an options to consider when a deal does not work out. A bad deal can be really frustrating so it is good to know what your options are, for a deal that goes bad.
• When you sell something to a person who replied to your classified ad you usually have no choice but to go to court if things go wrong and that is a lot of money and it takes a long time to deal with the lawsuit and the court and everything.
• The Solution: If you buy from a dealer who’s part of a professional guild they usually agree to arbitration to solve problems. This means you have a safety net. You do not have to hire a lawyer to deal with the dealer. The dealer and you can use arbitration to resolve disputes, with the dealer.
The Bottom Line
Do not just walk into the We Buy Gold & Silver” shop you see. You should use the PNG Dealer Directory or similar reputable associations to find a dealer who has agreed to a code of ethics, for the “We Buy Gold & Silver” dealers. This way you can find a good “We Buy Gold & Silver” dealer. You can find buyers using old coin buyer.
Someday, when you are holding a check for the full, fair market value of your collection, you’ll be very glad you did.