Not every coin dealer is an honest numismatics coin dealer. Anyone can sell coins – numismatics and bullion coins alike. From anywhere. Whether it be online, a coin show, or at a local coin shop. So how do you find an honest coin dealer?
Well, let’s start with this: If a coin dealer is fair and honest; they will have fair and honest prices. Easily verifiable. So what qualities are you looking for?
- A dealer who is well-versed in numismatics.
- Financially stable.
- Respected by their peers/Accredited dealer
- Demonstrated ethics.
YOUR HONEST NUMISMATICS COIN DEALER NEAR YOU:
VERMILLION ENTERPRISES
Well Versed in Numismatics
If you are buying coins, especially for investment purposes, you will want a knowledgeable, reliable coin dealer who can give you accurate and meaningful advice. Your coin dealer should be familiar with the current market. Meaning, bullion prices AND numismatic prices. Why? Because no matter the market – it will always have an upward trend and a downward trend. Not to mention, sometimes, bullion prices will be better than numismatic prices. Or even vice versa. It just depends on the current market at hand.
Don’t be shy! Ask questions!
- How long have you been a coin dealer?
- What areas do you specialize in?
- Are you a member with PNG, ANA, NGC, PMG, NCS?
- Buying online – Do you have a brick-and-mortar coin shop?
- Do you have a website?
Remember, not every answer is going to match your ideal. But a coin dealer who has been in business for some time, will be able to help you understand your coins and their value. Whether they spend 1 minute looking at them or 10 minutes. Those that have been in business for awhile, they’ll be more apt to be well versed in all areas of numismatics. However, it doesn’t mean they have to be experts.
YOUR HONEST COIN DEALER NEAR YOU: VERMILLION ENTERPRISES
Financially Stable
This doesn’t mean you need to know their banking history. I promise you, no one will give that information to you. However, when you look at their SHOP page or visit their brick-and-mortar, does it look like it’s a bunch of pennies worth 3-cents each, or do you see a well rounding of various price points. i.e. smaller valued coins and larger valued coins? Proof coins, bullion coins, various gradings or certified graded coins?
A good indication of a coin dealers financial stability is in how long they have been a coin dealer. Most importantly, how long have they had a brick-and-mortar shop. It does not mean I am discrediting those that are online only coin dealers. However, a good indication is how long have they been in business at a particular spot. If they are an online only coin dealer, don’t fret! But do a little more research. Google offers a lot of information for free at the flick of your fingertips.
Respected By Peers
Every coin dealer will not have 100% review feedback on any website. There is leeway in bad reviews. Remember than can be an off day, or only one side of the story, etc. However, if you are a member of a coin club, ask other members if they have ever dealt with that coin dealer. Find out if they have had any problems with the dealer and if it was resolved to their satisfaction. Are they associated with ANA, PMG, NCS, NGC, PNG?
Demonstrated Ethics
Some coin dealers will pressure you into selling or buying from them. Don’t be swayed. A coin dealer who demonstrates ethics will offer you a fair price but won’t hassle and haggle you. However, if you walk out their coin shop and come back later to take their offer, you should expect a little heck for that. Because they did offer you a fair and honest price to begin with. Both parties should come away from any deal with a feeling of fairness.
Always remember though, some coins are worth more in their bullion value than their numismatics value. With that said, the prices of bullion change constantly throughout the day. Even some numismatic coins can too. Because they are affected by the bullion prices, even if ever so slightly.
YOUR HONEST NUMISMATICS COIN DEALER NEAR YOU:
VERMILLION ENTERPRISES
If you’re looking for an honest coin dealer near you – whether it is online or locally, Vermillion Enterprises is the place to go. With over 15 years in the numismatics/coin dealer business and almost 7 years (as of 2020) at our Spring Hill brick-and-mortar location: 5324 Spring Hill Dr, Spring Hill, FL 34606. We are currently members with NCS, NGC, and PMG. Vermillion Enterprises is not under-capitalized. We pay TOP DOLLAR for your bullion and numismatics coins. Vermillion Enterprises: Where you can turn coin into dollar dollar bills ya’ll!
