5 Tips on How to Find Coin Dealers

Having recently had a conversation with my brother-in-law about why I think that investing in silver is the right thing to do in this economy, I realized there is a need for some tips and guidance for regular, everyday people. Those folks who haven\'t invested before can use some assistance with how to find coin dealers in their area.

Tip 1: Follow the Reputation

It doesn\'t have to be as complicated as you might think, but at the same time, you need to make sure that the dealer you are working with has been in business long enough to have a traceable reputation among coin investors and enthusiasts. You need to be sure that the dealer you choose has a good reputation and good knowledge of the business.

Tip 2: Ask for Referrals From Family and Friends

You will probably find the most reliable source of information as to where to find coin dealers by asking those people whose opinions you trust. If you have a friend or family member who has used a dealer in the past, this is usually the best way to get a good reference for someone who is reputable and local. Talking to my brother-in-law, I was able to give him some information that will make it a lot easier for him when he gets into the market for adding silver coins to his investment portfolio.

Tip 3: Consult the American Numismatic Association

One of the most useful tools I\'ve come across when trying to find coin dealers has been the web site of the American Numismatic Association Dealer Directory. This online directory makes it easy for anyone to find dealers in their area by making it possible to search by country, state, zip code, and even dealer specialty or name.

Tip 4: Avoid the Yellow Pages

I had to seriously consider putting this section at the top of the article because it is so important. Please don\'t resort to driving around town or just picking up the yellow pages. Chances are pretty good that there are some unscrupulous coin dealers in your city, even though you may not think so.

As soon as they realize you don\'t have a lot of previous knowledge about silver coin investing, they could be tempted to take advantage of you without you being fully apprised of the situation.

Tip 5: Late Night TV is Not the Place to Be

The same rule applies to any company who hawks their wares on late night infomercials or in those huge and annoying ads on tacky web sites.

For more great tips on investing in the lucrative silver market, read my Guide to Silver Coin Investing.