How do they differ and which matter most?
Anyone can sell a coin, so how do you know you’re buying or selling with an honest and experienced coin dealer?
That’s where coin dealers’ credentials come in.
When searching for a coin dealer, there are three primary credentials to look for:
PNG (Professional Numismatists Guild)
The PNG is an organization of professionals with a high degree of expertise and experience. In fact, most of the leading numismatists in the United States are PNG members. The PNG was founded in 1955 by the most prestigious and respected rare coin dealers in the country.
So, why does PNG = trustworthy?
Becoming a member of the PNG requires numerous steps that bind the numismatist to the stringent rules of the Guild, rules that ensure ethics, honesty, and integrity.
As the organization states on its website: “PNG’s motto is Knowledge, Integrity, Responsibility. These are the key attributes you should look for when you’re choosing a rare coin dealer, paper money expert, or precious metals dealer. Every PNG member dealer has them, or they wouldn’t be part of our association.”
In order to become and remain a PNG member, dealers must have a certain amount of proven experience (the typical PNG dealer has about 25 years in the field) and a certain net worth.
NGC (Numismatic Guaranty Corporation)
Is the dealer selling quality coins? Are they graded accurately?
If your dealer sells coins graded by either or both NGC and PCGS, you can feel assured that your coins will be graded in accordance with a standard that has been in use for over three decades and is widely accepted in the marketplace.
Why is NGC reputable?
As stated on its website, “The Numismatic Guaranty Corporation is the world’s largest and most trusted third-party grading service for coins, tokens, and medals. The Corporation employs more than 30 professional coin graders, most with 20-30 years of experience in the industry. The experience and expertise of the NGC team yield exceptional accuracy and consistency of coin grading.”
So, basically, NGC is considered by many to be the gold standard of coin grading companies. If your dealer isn’t selling coins graded by NGC, ask them why and question their coin’s grading quality before purchasing from them.
The American Numismatic Association (ANA)
ANA members take their profession seriously. Members of the ANA have access to exclusive education and numismatic resources that enhance their knowledge and understanding of the field.
Members also get premium access to reputable coin grading services from NGC and PMG, which further bolsters the security of buying from an ANA member dealer.
Summary
If you are looking for a reputable coin dealer to buy from or sell to, make sure you look for these credentials when choosing a dealer. Pegasus Coin and Jewelry is a trusted coin dealer and buyer throughout all of Florida and beyond. The company provides free, no obligation verbal appraisals of coins and collections on a daily basis. Our principal is a Life Member of the American Numismatic Association and Professional Numismatists Guild #363 since 1986. We buy and sell U.S. coins of value, regardless of if they are graded or ungraded. Pegasus owner John Maben was a Vice President and Grading Finalizer at NGC for eight years and served two terms on the PNG Board of Directors.
Our professionals have over 150 years of combined experience in U.S. coins, and we always provide an honest and fair appraisal based on market conditions.
Sources: https://www.ngccoin.com
