Even though it’s very easy to find a gold or silver dealer, finding an honest one, who is qualified, is more challenging. There are various key attributes you require in such a dealer. They are that they know their business inside and out, are financially secure, greatly respected by others in the industry, demonstrate excellent ethics, and someone you will have full recourse with, in cases of a dispute.
The full extent of a dealer’s knowledge
Consider how much experience a dealer has; if you are buying coins, specifically for investment reasons, you need a knowledgeable and reliable dealer that is able to provide accurate and expert advice. Never trust a professional who appears inexperienced, for any of your investment needs, so don’t settle for anything less with your silver and gold purchases. Exemplary credentials and experience are an absolute must.
Does the dealer have assets?
Although the vast majority of coins today are genuine, there are some counterfeits which will show up. You will need to know the dealer will still be in business years from now if the silver coins you purchase turn out to be fake.
Is the dealer insured?
A great number of dealers never have sufficient insurance on their items. So make sure that whatever silver dealer you use has enough insurance. This will safeguard any purchases you make.
What is the dealer’s ethics?
Coin dealers that work to a strict code of ethics will always have sufficient respect for their customers, to take their time to give every client an appraisal when they are looking to sell an item. Plus, they should also provide any buyers with multiple low premium options unless of course, a buyer is a professional collector.