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How to Find Coin Dealers Near Me

Investing in gold and silver coins can be an absorbing passion, as well as a lucrative hobby that allows you to reap rich rewards when you make the right investments. However, when you purchase gold and silver coins, it is extremely important to carry out your transactions through a reputed dealer.

Problems you may face when you buy from a high-street dealer

Buying a precious metal coin is all about ascertaining its authenticity. If you are a layperson, or a hobbyist, the chances are that you may be easily taken for a ride by a pawnbroker or high-street gold dealer. There are several factors to consider. Firstly, you need to be sure about the authenticity of the coin. Next, you should also be able to identify the purity of the metal used to manufacture the coin.

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To do this, you will require certain testing equipment. In the absence of proper identification and purity assessment of the coin, you run the risk of being cheated. Additionally, a high-street gold dealer would not have a vast inventory of coins to choose from. More importantly, when you leave the premises of the high-street dealer with your valuable purchases, there is a good chance that you can be targeted for robbery.

How to Find Coin Dealers Near Me
Fine gold and gold coins

Identifying a reputed dealer

If you search on Google for “coin dealers near me”, you will come up with a list of coin dealers based on the geographical area, you are located in. Cross-referencing the list with a reputed industry body like the BNTA can be a great start. The BNTA website publishes a list of affiliated, reputed coin dealers. The first thing you can do on shortlisting these dealers is to give them a call.

Insider's Guide to gold and silver

A reputed dealer will always answer all your questions openly. No information will be kept hidden from you. Also, you will find that most reputed dealers have a large online catalogue that you can browse through when making a purchase. Lastly, they would offer a buyback guarantee. Needless to say, if a dealer refuses to buy back the gold, they are selling to you, there must be something wrong.

How to Find Coin Dealers Near Me
Gold measurement tools from yesteryear

Building a relationship

In order to acquire the best deals on coins, you need to build a steady relationship with the dealer. You need to discuss your buying preferences, specific coins that you are looking for, and a ballpark price that you are willing to pay for them. This will give the coin dealer a good idea of what you’re looking for. So, when an opportunity to purchase a good coin comes up, you’ll be the first to know. It is a mistake to think that the term “coin dealers near me”, simply means that you are limited to small pawnshops, antique vendors, and the like

A reputed online merchant would be able to fulfil your requirements since most of them have a countrywide distribution facility. You would be required to insure your purchases and pay for any shipping logistics. However, this ultimately ensures your safety, and the goods will be securely delivered to your residence.

How a reputed dealer can add additional value

Investing in precious metal coins is also about maintaining divisibility, liquidity, and tax efficiency within your portfolio. Gold coins are free from VAT in the UK and may also be exempt from capital gains tax. A good dealer will be able to advise you on how to create variety in your portfolio while ensuring that liquidity and divisibility are maintained.

Discuss your coin purchases with Physical Gold

At Physical Gold, we take pride in being one of the nation’s most reputed online dealers. Our advisors are always at hand to assist you in your coin purchases. Call us today on (020) 7060 9992 or contact us online via our website.

 

Image credits: Wikimedia Commons and Wikimedia Commons

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DANIEL FISHER

Daniel Fisher formed physical Gold in 2008, after working in the financial industry for 20 years. He spent much of that time working within the new issue fixed income business at a top tier US bank. In this role, he traded a large book of fixed income securities, raised capital for some of the largest government, financial, and corporate institutions in the world and advised the leading global institutional investors. Daniel is CeFA registered and is a member of the Institute of Financial Planning.

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