How to Become an Authorized Gold Coin Dealer

Becoming an authorized gold coin dealer can allay customers' worries.

Becoming an authorized gold coin dealer is not difficult, and can provide much-needed reassurances in the eyes of the coin buying and selling public that you are a legitimate source for the purchase and sale of gold coins.

Instructions

1. Join dealer organizations. Joining groups such as the American Numismatic Association will provide you with instant credibility in the eyes of collectors and fellow-dealers. Members agree to abide by a code of ethics to govern their transactions and its website lists dealers by state and specialty.

2. Apply to be an authorized dealer with the major coin grading services. Large coin grading services such as Numismatic Guaranty Corp. and Professional Coin Grading Service have authorized dealer programs that allow authorized dealers to submit coins directly to the coin-grading services.

3. Join industry trade groups. Becoming a member of industry trade groups such as the Industry Council for Tangible Assets further solidifies your involvement as a rare coin dealer, and can be used as evidence of your commitment to good business practice that is required for some state licensing boards.

4. Apply to your state for licensing. Not all states license coin dealers, but several do. Investigate whether selling gold requires you to register as a bullion dealer in your state and apply if necessary.

Tips & Warnings

• Joining local and state organizations for coin dealers will provide more contacts that can be helpful in your business.

References

• American Numismatic Association
• Industry Council for Tangible Assets
• Professional Coin Grading Service: Authorized dealers