(1) Is the Coin Dealer Experienced? There's an old saying around numismatics that goes, "Buy the book before you buy the coin." While this is excellent advice, and I strongly recommend following it, the fact is that not everyone can become an expert. If you are buying coins, especially for investment purposes, you want a knowledgeable, reliable coin dealer who can give you accurate advice. Would you go to a novice for advice on investing in the stock market? If not, then don't go to a coin dealer unless he has solid credentials.
Our Answer: Calaveras Coin & Pawn has been in the numismatic industry for over 20 years with far more than that in the study of coins.
(2) Does the Coin Dealer Have Any Assets? Although the overwhelming vast majority of coins on the market are genuine, there are occasionally some fakes that turn up. You want to know that the dealer is likely to still be in business five years from now if that $20 Saint Gaudens High Relief treasure turns out to have been a high tech fake somewhere down the line. Although certification services and slabbing have palliated this concern somewhat, a coin dealer's financial stability is a good indicator of the likelihood that he'll be around for a long time and financially able to provide recompense.
Our Answer - We have just expanded to meet the overwhelming demand that folks wanting to invest in something other than the stock market have created. We are not going anywhere and can handle transaction both small and into six figures. We also guarantee our coins to be genuine.
(3) Is the Coin Dealer Known Among His Peers? One of the best safeguards you can get is from using a dealer who has been vetted by his peers before being permitted to join a guild. After all, if the coin dealer has a bad reputation, or isn't respected in his own community, he's probably not a good choice to do business with. Especially when that business involves investing for my (or my kids') future.
Our Answer: We believe in treating the community right and have proven this with our commitment and our membership in nearly a dozen nationally recognized numismatic and local community organizations.
(4) What Are the Coin Dealer's Ethics? There is nothing more disheartening to me than standing at a dealer's table at a coin show, and watching some little old lady approach the dealer with a jar of old U.S. coins, to have the dealer barely glance at them and say, "I'll give you 10% over face; that's all they're worth and I'm being generous." A coin dealer such as this isn't just being lazy; he's hoping to make a score. He's hoping that there'll be something in that jar that will spell a big payday for himself. But even if we give him the benefit of the doubt, and attribute his action to laziness, is he being fair with his customer? She was trusting his expertise. Would you like to do business with someone who treats his customers that way?
Our Answer: We at Calaveras Coin & Pawn pride ourselves in taking time with our clients and helping them fully understand their collection or investment whether buying or selling.
Coin dealers who subscribe to a code of ethical standards, such as that espoused by the PNG, have enough respect for their customers to take that extra 2 or 3 minutes to look through the little old lady's jar and give her an honest appraisal. They agree to respresent their merchandise fairly, grade coins honestly, and treat people ethically. These sound like traits you should expect anyway, right? Unfortunately, this isn't always the case, so think about this before choosing a coin dealer to do business with.
(5) Do You Have Any Recourse if You Get Ripped Off? Coin dealers who are full members of the PNG have agreed to submit to binding arbitration to resolve disputes. This is a very important consideration if you are buying expensive coins, or coins for investment purposes. What happens if there's a dispute? If you don't choose your coin dealers carefully, you might just be out of luck, unless you have the time and energy to file lawsuits and complaints with government agencies. Why not avoid that possibility to begin with, and do business with coin dealers from whom you have some recourse.
Our Answer: We are members of PNG but believe it should never have to go that far as a customer should be treated with the utmost respect and professionalism.
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