Finding a Trusted Coin Dealer
Finding a trusted coin dealer is always scary. Sometimes you get
lucky and meet trustworthy dealer at the first try. Sometimes a friend
knows a friend who knows a good dealer. However, this is not always the
case. Most of the times for novice collectors, it is difficult finding a
dealer you can trust.
Rule number one.
Donít look for a dealer at your direst time of need. This clouds your
judgment and ability to sense a predator even one whoís already standing
right in front of you. People in dire need are always an easy target. So
watch out. Better to look for another option to solve your money problem
than to sell your precious silver coins to the first dealer you meet.
Selling your coins at a time when you donít really need the money gives
you leverage. If you have a feeling that the dealerís offer is too low,
you will have the luxury of time to look for another dealer. The more
dealers you talk to, the more options you will get, the better chance
you have to the best deal.
Rule number two.
Always have your silver coins appraised first before talking to a
dealer. Find an objective appraiser. Preferably, one who is not
interested in buying your coins. This will help you in your negotiations
Rule number three.
Beware of overzealous fawning dealers. Donít let the sweet tongue
fool you. Sweet talks are nothing but thatótalk. They flatter you,
confuse you and before you know it, they already have their greedy claws
around your precious coins. So, be wary of this kind of person. Some are
so good at their craft that they can persuade you to hand over your
coins without paying you first. They might tell you that they will keep it for a while and have it appraised. Donít you ever do that!
Rule number four.
Donít trust dealers who offer a price without even seeing the coins
first. Placing an offer just over the phone should raise an alarm. It
might be that he senses youíre a newbie collector and you donít know the
worth of your coin so heís taking advantage.
Rule number five.
One safe approach would be to go to dealers at their stores. Dealers
with established place of business are almost always reputable. For one,
they have a history in that area and you could ask around about him or
try his name in Google and see what comes up. You will have then some
references. And in worst-case scenario, like if he scammed you or
something, you would know where to find him at least.