Choosing to work with a good rare coin dealer when you’re building a coin collection is important. It ensures that you’ll get good deals on the coins you buy and that you’ll get what you pay for every time. Before you choose a coin dealer to work with, make sure that the business has these five qualities.
1. Longevity
It can be tempting to go out and support a new coin dealing business, but this is really not a good idea for a beginner. Since you aren’t bringing much experience to the table, you want to deal with a business that has it in droves. Work with a coin dealer who has been around for at least a few years, and you’ll have a smoother experience as you build up your coin collection.
2. Money
It’s also vital that you deal with a coin dealer who has money to back the company up. This is important so that you can rest assured that you have recourse should you end up with a coin that isn’t what you expected. Every once in a while, a collector will buy a coin from a reputable dealer only to find when they go to sell it three or four years later – or even more! – that it’s been graded too high or some other problem. If this happens, you need to be able to contact your dealer to get your money back. You won’t be able to get your money back unless your dealer has some to give you!
3. Reputation
Even a long-standing dealer can have a poor reputation in the coin collecting world. Before you buy from a dealer, ask around. You can probably find reviews of a company online, and you may also be able to check out big-time coin dealers at shows and such. Ask other coin collectors whom they prefer, and that will give you a good idea of where to go.
4. Personalized Service
The best coin dealers in the business will be able to give you service on a personal level. This basically means that they will be able to help you craft your coin collection so that it is unique. A coin dealer who lets you work with the same representative over time will really increase your chances of having an excellent collection with less hassle. Plus, it can just be fun to get to know one or two coin experts, rather than simply speaking with a dozen or more!
5. Connections
One of the most useful things a coin dealer can have in your favor is connections with other coin dealers, collectors, and experts. If you need a particular coin, a dealer who can call around for you will be infinitely useful to you. With a well-connected dealer, you’re much more likely to get the coins you want quickly and easily, and you won’t have to spend as much time waiting around to add to your collection.