How to Work With Coin Dealers

Many people have been unfortunate enough to buy a coin and then find out that they are in possession of a fake. These things happen to the best of us. The first person in our line of attack is unfortunately our coin dealers. Whether they have been our dealers for years or this was the first transaction, the wrath they incur is something else all together.

This does not always mean that your coin dealer is in the habit of selling fake coins. There are very many dealers who have handled dud coins and not known it. Sometimes even the best and most experienced of dealers have been duped with forgeries that almost as good as the real thing. Only a few dealers can tell fakes from the real coins, especially when a lot of work has been done to recreate the coin.

Grading services are provided to coin collectors and dealers to be able to differentiate between real and fake coins. Well, they are there to provide you with an estimate cost of your coin and also to determine the state of the coin. The most reliable grading service is provided or offered by PCGS. Most coin dealers and collectors find that they do the best work. They are the most conservative and have been around for a long time. There are some two timing graders though, who will allow some things to slip by with no word at all.

The next question is, will the dealer compensate you after you found out it’s a fake? I think that it all depends on the dealer and the solvency of their dealership and the good faith of your dealer.