Coin collecting is fun for every age. It’s interesting to learn about rare coins and read whimsical stories regarding their manufacturing (“coining” or “coinage”) and distribution or circulation. When buying and selling coins, the first thing to know is this: Things change. Values change. The rare coin your grandmother cherished may now be worth less than the meltdown value of coins in your son’s collection.
The next important thing to know is this: You need a mentor or at the very least a trusted, “name-brand” local coin dealer. Coin dealers are not created equal.
Trusted Coin Dealers in Philadelphia, Allentown, PA Area
A solid coin buy-and-sell transaction should be a win-win. Good coin dealers are fair. Yes, fair. There’s no reason why a reputable coin dealer shouldn’t want you to make money too. In fact, the best coin dealers are happy when you “strike it rich,” so to speak.
Here are 4 tips your Southeast Pennsylvania coin dealer is the best:
1. Business-Minded, Ethical
When you walk into (some) pawnshops, the dealer takes a look at your coin and tosses out a number. Take it or leave it. Ethical coin dealers examine your coin carefully and respectfully. They will discuss its condition and mintage and offer knowledge about that particular coin’s rarity.
Finally, they explain why your coin has value (or little value). They’ll tell you whether it’s a good time to sell or if it’s a good coin to “hang onto” for a while.
Rookie coin dealers aren’t to be completely avoided – everyone was a newcomer at some point – but if you’re a rookie coin collector, you need guidance more than money. Experienced coin dealers have word-of-mouth endorsements as well as credentials. They have physical addresses (in this country) and storefront locations. They have a community presence. And they’ve been providing coin dealer services long enough that you know they’ll be here next month…next year.
3. The Offer Is Comparable
No matter how trusted your local coin dealer is, get a second (or even a third) opinion from an established dealer. There are reasons why one dealer may offer more money than another – overhead, employee expenses, if the coin will move quickly or sit on a shelf for a few years – but all estimates should be similar; comparable.
Many online buyers tend to offer the highest prices. That’s because they have no intention of paying you the full price offered if they plan to pay you at all. Once again, face-to-face jewelry and coin interactions vastly reduce the margin of error.
Online companies have testimonials on their websites. They’re very likely “real,” but certainly biased. Use Yelp and other independent research to vet coin dealers. The internet is literally a goldmine of information, so use it.
Buying and selling coins can be done online, but it’s tricky, difficult, and high-risk. Before you buy or sell online, consult with your trusted coin dealer. She or he will quite honestly tell you if the company is known or legitimate and educate you on the steps to take to ensure your coins are protected.
The Best Coin Dealers: Doylestown Gold Exchange
Are we the best coin dealers in Pennsylvania? We think so, but we have several friends – competitors – that believe they’re the best too. The question should be, “What company has the best coin dealers for you?” The Doylestown Gold Exchange team of numismatic professionals are experienced and reputable coin dealers. We care about you making money as much as we care about company profits. Most importantly, we bring a level of excitement and interest to coin collecting, buying, and selling that you won’t find anywhere else.