Throughout the years, the business of coins and bullion has changed, and in many cases, has evolved for the better. However, even though technology has come a long ways; enabling investors and collectors to buy and sell coins and bullion with the push of the button, the case can still be made that conducting business locally, such as with Atlanta coin dealers, is still the best approach to take. In this article, we’ll discuss four reasons why we believe that conducting coin business locally is preferable to online buying and selling.
First and foremost, while most businesses specialize in buying or selling products or services, we might argue that the foundation of business is built on establishing and developing relationships. We for instance have a favorite restaurant in our hometown, where we can be found once or twice a week. Because of our regular and consistent patronage, we feel more like part of the family as opposed to customers. This means that when we arrive, the red carpet is rolled out for us. This includes receiving prompt seating, preferred seating (in terms of the location), and superb customer service. Our son even receives an extra side of M&M’s with his chocolate pancakes! Conducting business with local Atlanta coin dealers is similar in many respects, and we’ll begin with one of the most important benefits of dealing locally, which is preferred pricing.
As we alluded to above in our restaurant example, regular customers are valued, and because of this, they receive preferential treatment. One of the ways in which customers are made to feel important is with respect to the prices at which they’re able to buy coins and bullion. Most Atlanta coin dealers have a set premium at which they sell a certain coin, such as an American gold eagle, but they also have their regular or preferred customer rate, which is always less. This means that establishing a relationship is likely to result in the ability to purchase gold, silver and rare coins at below retail prices, which directly affects the return on your investment.
Not only do most Atlanta coin dealers provide preferred pricing to regular customers, but they also typically provide their regular customers with early access to new inventory. This is extremely important, as some coins and bullion are not only difficult to find, due to the rarity or mintage of the item, but also because of the demand in the marketplace. Rather than rolling the dice and taking your chances that an online coin dealer or dealer at a coin show may have your desired item in stock, you can provide your local coin buyer with a “wish list” and they’ll be happy to contact you once the item arrives.
In addition to preferred buying rates and first dibs on new inventory, many local coin dealers will provide you with preferred pricing when/if the time comes to sell your coins and bullion. This is just as important as receiving preferred pricing when you purchase items, as this will lower hurdle that you have to overcome to make a profit. Once you’ve established a relationship with an Atlanta coin dealer, we recommend that you discuss with them what type of rates they’d be willing to pay if you ever have to sell your items. In more cases than not, it will exceed the standard rates that they pay for “off the street” customers.
Lastly, conducting business locally enables you to keep the transaction confidential. In this day and age, agencies are able to track your every move and purchase. It would be nice to have some privacy with respect to your investments. After all, you may be purchasing items as a hedge against inflation and economic/financial crises, which are often caused by governmental policies. Having coins and bullion in physical form that you can easily get to if the need ever arises provides a certain level of comfort and security for many people.
In summary, we’ve discussed four ways in which dealing with Atlanta coin dealers may be preferable to online or mail service transactions. Establishing a relationship with your local coin dealer should enable you to receive preferred pricing and early access to new inventory, above market rates when the time comes to sell your items, and a level of confidentiality which may be important to you.