How to Pick a Reputable Coin Dealer

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In order to find a reputable coin dealer, the first place to start is by asking friends and family if they have had any good experiences with a local coin dealer. Learn about shopping around for a reputable coin dealer with help from a second-generation numismatist in this free video on coin dealers.

Part of the Video Series: Coin Collecting
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Video Transcript

Hello I am Brian Kuszmar with thecoinbroker.com. Let's talk about how to find a reputable coin dealer. Finding a reputable coin dealer is probably no different than finding any other reputable business. My suggestion first is to look around your local area for example look under yellow pages, Google, however you search local businesses, and even better word of mouth is probably the best. Ask your friends where they have had good experiences. It is like any other business. If you hear a friend that says he has got a great mechanic you will generally go to that person first. So I would say first ask around with friends and family. Have you dealt with someone? Did you feel comfortable with them? The second thing I would make sure is that these people are have been in business for a while in your local area, and when you walk in you see an established business. You know things have been there for a little while. You don't want to walk into a hotel room where they are set up for one day or two days, and trust that your goods are going to be fine or that you can take a check, and walk away, and be comfortable with that check. Again my suggestion is deal with local people, make sure they have been in town for a while and established, and have a brick and mortar place. Which means basically has a retail store for business. And if you have more than one then you have the luxury of shopping around, and checking prices. For example here at thecoinbroker.com I have been in business since 1977, I am a second generation coin dealer. My father has been in business for a long time. I worked for him for many years. So I would suspect that if you hear this kind of information from your dealer that he is second generation, he has been around for a while, he has had the same store that this is a good indication or a good start of a reputable coin dealer. So to go over a couple of key points for what to look for in a reputable coin dealer first look for references from friends and family members that have dealt with someone locally. The second thing I would look for is look for an established business that has been in town for a while. Go in check them, meet them, feel how you feel comfortable with them. Third thing is always follow your gut feeling. I found that most of the times when you go against your gut feeling or if something sounds too good to be true it probably isn't. And some red flags, again stay away from people that are just in town for one day, and some hotel estate buyers.

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