To collect rare coins has become a great gainful profession as sometimes there are chances of the collector hitting a jackpot. However to possess huge financial gain you need to contact honest coin dealer doing trading in your locality. Sometimes unluckily even an experienced coin collector gets duped by fake coin dealers.
Here are few useful tips to help you stay away from unworthy coin dealers:
- Try to know more about them from their past clients. The best way is to stall near the dealer shop in the business hours. This will help in confronting any customer coming out from the shop. There experience with the dealer will help you know the honesty of the dealer. Every well noted coin dealer will surely deal in online trade, thus log onto their websites to read the testimonials of the customers to know the creditability of the dealer.
- The coin dealer should have years of experience. It is quite important to deal with skilled coin dealer as you don’t want to be mistakenly suggested to buy fewer valuable coins as for investment purpose. To know their capability in choosing rare coins and correctly calculating its value you can ask them few questions. The answers will give you more insight about their knowledge as a coin dealer.
- The dealer needs to be associated with well acclaimed association like ANA. If the dealer is listed in their directory, then you can be assured of the dealer’s reputability. As such know association has code of ethics for their members to follow, thus any fake coin dealer won’t likely to be associated with ANA.
- While conversing know whether the dealer provide any assurance. Most of the authorized coin dealers are ready to assure you that the coin bought from their shop is quite valuable and if not they are ready to take it back. This kind of assurance often helps coin collectors to know the authenticity of the coin dealer.
- Best way is to search for reference. You can search the shop referred by know coin collectors.
To start collecting coins, it is best to visit coin shop near me rather than buying online or from coin dealers trading in other towns. Invest small amount in coins ready to sell for marginal profit. Once you get experience in dealing with coin dealers and buyers then you can invest more on the rare coins to gain huge profit.