Are Gold Coin Dealers worth their weight in gold?

As a numismatist, optimizing profits from gold coin trading would be your ultimate goal. However, your success really depends on the extensiveness of your network of gold coin collectors. The greater your network is, the greater your chances of establishing demand for your gold coins. With this, you are then in a good position to ask for a higher price and make large profits in the process.The fact is, not all numismatists are able to establish such as wide network. This is a specialized field, with numismatists specializing even in specific coin collections. We need time and effort to build our relationships with other numismatists before we are able to do business with them. The shortcut to this would be to engage the services of a Gold Coin Dealer with an established vast network of Gold Coin Collectors. However, the downside to this is that you would have to give a portion of your profits to your Gold Coin dealer. This leads to the question: Are Gold Coin Dealers really worth their weight in gold?The answer truly depends on your purpose of collecting coins. Traditionally, Gold Coin collectors are wealthy but engage in numismatic activities as a hobby. As they do not actively engage in Gold Coin trading, they only sell their collections when an interested buyer comes along. Otherwise, they are happy with owning what they have and would probably not require the services of a Gold Coin Dealer.In recent times, Gold Coin collection has evolved to become an investment venture. Traders buy at low prices, and keep their Gold Coins for a period of time in anticipation of price appreciation. Trades are purely private transactions, without the presence of a trading exchange. Thus, Gold Coin traders only make money when they sell their gold coins.With a Gold Coin Dealer, traders no longer have to seek for interested buyers. They leverage on the existing network of a Gold Coin Dealer for a fee. In addition, Gold Coin Dealers are usually knowledgeable, specialize in a specific collection and are able to advise traders on market situations. They are also highly sensitive towards market changes, and probably attend trade shows and auctions on a regular basis. Their experience in bidding for gold coin collections have equipped them with a skill in the trade that would be unrealized by regular Gold Coin traders. Most importantly, they would have established credibility through membership with a numismatic body. Finally, the answer to this question really depends on the objective of the Gold Coin trader. If he’s in the business to maximize profits, a Gold Coin Dealer may do him some good by increasing his opportunities for transactions. On the flip side, Gold Coin Dealers would not bring great value to conventional Gold Coin collectors who are not in it for the money.

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