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Advice & Information
Advice on how to select the right dealer
As in every market, in coin collection too you need professional help. And in this regard, it is important to select the right dealer. How can you go about it? Here are a few things you could keep in to consideration while selecting your dealer.
1. Is He Competent for Your Collection Set?
Not all dealers are competent in every aspect of coin collection. In fact, most of the collectors are competent only for a few specific sets. So, gather knowledge from the dealer as well as his customers about his competency in your field.
2. What Credentials Does He Have in Numismatics?
If your dealer is a member of the Professional Numismatic Guild, then hands down you can go for him. Secondly, it would be useful for you to check whether he is stable or not. May be you could judge that from the number of firms he has worked for and how long he was with them. Thirdly, a dealer who has published articles or books is well known and you can easily get to know what experts have to say about him.
3. Does He Attend Auctions or Seminars?
A dealer can be in the front line and well equipped with the market news only when he is a regular at numismatic auctions and talks. A dealer who passes on second hand information to you is not very useful.
4. Does The Dealer Work With Collectors?
If the dealer does not readily work with collectors, it will not be an interesting partnership, collector-dealer partnership. You will soon get bored due to the inaccessibility of the dealer. However, one good point about them is that their knowledge is generally more than the retailers.
5. Is The Dealer a Broker?
There is nothing wrong in buying coins from brokers. But when the coin is out of the dealerís own inventory, it ensures you that before passing the scrutiny of your eyes, it has passed his, for which it is in his collection. The brokers generally have no idea about the coin, as they have not seen it for themselves. Besides, they charge you more than the worth of the coin.
6. Will You Face Tough Competition?
Often a dealer has one piece of a rare coin with a number of collectors who demand it. How will he choose whom to give what? Preferably choose a dealer dealing with collectors who have sets different to you, coins are rarer than collectors.
7. Is The Dealer Interested in a Two-way Marketing?
It is advisable to get a dealer who is interested in two-way marketing. It is easy to find a dealer who only wants to sell, but tough to find ones who would like to buy their pieces back.
8. Does The Dealer Make After Sales Service?
Good dealers keep in touch with collectors even after the piece has been sold.
9. Is He Worth Your Trust?
This is of prime importance and can only be answered by your instincts.