Coin and Paper Money Collecting/panda coins

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Expert: - 6/4/2011


Question
I was given a panda coin from a family member and it has got me interested in buying gold bars in the future.Do gold dealers   belong to an organization that we can check with? Do they all  guarantee the gold they sell and do they buy it back if the price goes up? I know that I could be cheated and not suspect it.

Answer
Jenna,

There is no specific gold sellers organiation.  The ANA (American Numismatic Association) does have a website with listings of member dealers :

http://www.money.org/ana_custom/dealer_search/dealer_search.cfm

You could visit a couple of them to get a feel for the market.

I would also recommend you attend a coin show -- there will be numerous gold sellers in one place at a show -- you may be able to find one in your area on the Coin World website :

http://www.coinworld.com

As to buy-back guarantees, they are different for every dealer.  But basically any dealer will buy the gold back at a certain price level, regardless of whether it went up or down since you bought it -- it all depends on the current spot price of gold, which you can monitor here :

http://www.kitco.com

I hope this helps,

Dan

Coin and Paper Money Collecting

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Dan Moore

Expertise

My strong familiarity with all U.S. Mint coins, extensive reference library, and close relationships with many other dealers allows me to identify just about any coin made in the USA. I receive regular updates to all the current price guides -- both wholesale & retail -- to provide accurate values. So, with a good description or pictures, I should be able to identify and value any U.S. coin you have.

Experience

I've been a coin dealer since the 1980's and a coin collector since the 1960's. I specialize in U.S. Silver Coins and have an active online website -- The Working Man's Rare Coins -- http://www.workingmancoins.com -- offering information and inventory in U.S. coins.

Organizations I belong to :
American Numismatic Association Member #187770
Michigan State Numismatic Society Member #8255
Florida United Numismatics Member #19710
Monroe Coin Club Treasurer
Lincoln Coin Club Board Member
WINS Member #14
CoinMasters Member #1814

Frequently Asked Questions :
I have created a Frequently Asked Questions page on my website, where you may be able to get an immediate answer to your question. You can find the page here :
http://www.workingmancoins.com/FAQ/index.htm


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