Purchasing coins online reveals a plethora of choices for collectors and investors, but along with options also comes risks. With this guide, you can expand your empire without getting tripped up so easily.
Research the Seller
Research the dealer or seller before you purchase. Plenty of information is offered by the truly stable businesses; those that have been in operation for a long time, received high praise and provide clear contact information. Some reputable coin dealers are members of industry professional associations like the British Numismatic Trade Association (BNTA) and American Numismatic Association (ANA). Stay away from low-rated, poorly described or unverified sellers.
Examine the Listing Carefully
Read the coin description thoroughly. Look for detailed images of both sides, as well as any imperfections. The biggest warning signs for you to avoid are listings with stock images as opposed to actual photos of the coin that your purchasing. Seek transparent information about grade, authenticity and provenance. For Coin Dealers UK, contact https://www.gmcoins.co.uk
Ask Questions
Feel free to email the seller and ask questions about where it came from, who graded it (if applicable) or what their return policy is. A good dealer will be glad to supply more detail or pictures. Though a bargain can be found, read the fine print; if it’s too good to be true, it probably is. Bargains that slash market value by more than 25% should send up red flags.
Use Secure Payment Methods
Use payment methods that you have mechanisms for to detect fraud such as credit card or Paypal which offers payer protection. If you are sending money to someone for the first time, avoid wire exchanges, cheques or even direct payments from a bank account as they offer inadequate consumer protection if anything goes awry.
Check Return and Authenticity Guarantees
An honest dealer will provide a written returns policy and back the authenticity of their guarantees. Before purchasing be sure you understand the terms. Save all receipts, emails and documents related to your purchase.
Start Small If You’re Unsure
For new buyers of coins over the internet or those looking to deal with a new dealer, use caution in your first purchases. You can take it a step further and start out bigger once you trust the seller more.
Trust Your Instincts
If something does not feel right, be it unclear communication or you are being pushed into a purchase quickly, leave. Many online sellers are reliable.
Following these few tips will have you shopping for coins online and keeping both your collections and investments safe.
