Tips for Choosing a Silver Coin Dealer

Tips for Choosing a Silver Coin Dealer

You go online looking for a silver coin dealer and you are quickly overwhelmed. Do you work with a silver coin dealer specializing in rare antiquities? Do you work with a firm that is more of a dealer in precious metals? How do you even know which silver coin dealer to choose?

Let’s start with your goals. What do you hope to achieve by working with this dealer? Will you tackle some investing goals? Will it be a long-term relationship? Are you starting to collect coins and do you need a silver coin dealer who can obtain rare items if necessary?

You see…there are a lot of things to ask yourself about your intended relationship with a silver coin dealer. You also need to consider his/her professionalism. For instance, is the dealer affiliated with any relevant professional organizations? Does he/she have a good network of other dealers who can guarantee the best results?

So, let’s just say that your goals are purely for investment purposes. This means you want a dealer who can get his/her hands on the best of the bullion quality coins. This would mean acquisition of newly minted coins like silver American Eagles, but it might also mean acquisition of “junk coins”, if that is what you want. These are old coins that were made with ninety or forty percent silver and are sold now by the ounce.

If you want good investment grade coin dealers, be sure that these dealers are certified and that they offer you some guarantees. Then check around for any customer feedback about them. If you see that they run a busy website or have lots of active customers, then it is quite likely that you will have a good experience with them. If it seems like they have only a dubious amount of credibility, do not spend your valuable capital with them.

Make sure that there are not a large number of hidden fees in the cost of the assets you acquire through them as well. For instance, all coins should be priced first on the market value of their silver, second on any minting fees, and then a general shipping or handling fee should be applied. You must include these fees in the cost of the investment and be sure that they are not offsetting the viability or feasibility of the investment. A good dealer will be happy to review all of this with you.