Whether you are a new or seasoned coin collector, it literally pays to do some homework on a dealer before handing over your money. With the availability of online shopping, this process can be difficult. It’s hard to determine the trustworthiness of a business when you can’t actually stroll in and see the business. In this article, we will give some tips and considerations for choosing a dealer, both online and in person.
Bullion houses versus numismatists. Many dealers sell both bullion and rare coins. Both may be considered investments but it’s more likely that a collector is seeking to do just that: collect. If you are looking for rare coins you’ll likely have a better experience shopping around with businesses that specialize in exactly what you are trying to find. If you are seeking out a specific coin for your collection, you’ll have more success with a numismatist rather than an entity that that specializes in buying and trading coins based on the market value of the metal alone.
Location. Location? Location! As mentioned above, the internet has opened up all manner of purchasing options to consumers. Rare coins can be extremely expensive and there are people online who are willing to obtain a percentage of that money illegitimately. Most of the choices involving online coin purchases come down to common sense. Some important things to consider:
- Does the business have a physical address and phone number listed? If the answer to either one of these questions is no, you might be better looking elsewhere. At the very least, contact information is crucial to discuss a purchase before and after it actually occurs.
- Does the website clearly list a return policy? Buying clothing online can sometimes be unsatisfactory due to not being able to see the item in person before it arrives. What happens if your expensive rare coin doesn’t fit or look as good as you thought it would? It’s also a good idea to examine what payment methods the business accepts when looking at this.
- How would you rate the quality of the website? This point is obvious. If pictures are absent or blurry, if the site just doesn’t look professional, or if the prices are too good to be true, simply shop elsewhere.
Even with these things to consider, modern consumerism has made it possible to cultivate extremely satisfactory
business relationships without ever meeting in person. After 35 years of business, this has certainly been the case at D&J Coins. We have customers that we see both often and never face to face. Because of our regular attendance at national coin shows and conventions, we are always looking for coins that our customers request, regardless of the type of interaction.