Three Things To Know About Your Coin Dealer

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Can you give me advice on the process of negotiating with a coin dealer?

Three Things To Know About Your Coin Dealer

If you're conducting transactions with your coin dealer on a regular basis, perhaps, you've experienced some confusion about the business deals. In order to make the process of collecting coins go more smoothly, here are some helpful hints to understand how your coin dealer operates.

1. Unlike a coin collector, a dealer is typically not attached to the coins he possesses. Therefore, any transaction he makes, he does based on the profit he'd like to receive.
2. A coin dealer will likely prefer to deal in person rather than over the phone. That way, he can best assess the value of a coin if you're looking to sell it. For instance, there may be a slight difference between the condition of the proof set you're looking to unload.
3. A dealer feels it's to his best advantage not to make an offer outright when making a business exchange. This is because in the name of bargaining, there is a chance you as the coin collector will decline his offer and go elsewhere. Therefore, he may ask you for a ballpark figure and hope to go from there.

   

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