Most of those looking to buy coins turn to the internet as it has become the easiest way to do so. But as with everything else, doing business online also bears many risks. Not that there aren’t great coin deals online, but if you don’t do your research you might end up not getting what you bargained for. While we always advise our clients to opt in for a trustworthy local company to buy or sell coins in San Diego, we don’t want to dissuade anyone from buying coins online. But we do want to educate our customers and warn of the dangers of buying coins online from less than respectable websites. If you want to ensure a successful online purchase, you need to take certain precautionary measures. In this article, we are going to cover just what these measures are.

Avoid “Too good to be true” Deals

If you’ve ever Googled “buy coins online” chances are you are bombarded with advertisements offering to sell you coins of all sorts. We’ve come across these ads offering coins at a price way below the average wholesale price ourselves. In most cases these “too good to be true” deals turn out to be exactly that. To root out the shady companies from the reputable ones, look into their background. If a recently established company is offering to sell you coins at a ridiculous price, be sure that you are looking at a scheme. Most of these shady vendors use your payments to fund the orders they’ve already placed. This can result in extremely long delivery times at best and is one of the reasons many reliable online companies are out of business. Do your research to avoid falling victim to such a scam and think twice before making such a purchase.

Do Your Research

Researching the company you are looking to do business with is always a good practice. Thanks to the internet, information about established companies has never been more accessible. Look at the company’s online reviews on Yelp or similar sites and make general inquires about the company. While researching the company is important, researching the owner is equally crucial. This might expose an owner who has had multiple online coin businesses go bankrupt only to open shop again under a different name.

Inventory Status and Shipping Time

Like we previously mentioned, some online vendors do not have the coins listed on their website in stock. That’s why you should always e-mail the dealer to see if the coin you want is available now or is on a back order. You should therefore try and buy items in stock that can be shipped a few days after processing your order. You don’t have to avoid these back order deals at all costs, as some coins in higher demand might need to be restocked from time to time. However, if you don’t get a straight answer when asking about the inventory status, it might be best to pass on that offer. Even if the shipping times are shorter for live products, you should always ask about the estimated delivery time. It might be a good practice to require a signature and avoid your package being dropped off at your doorstep when you are not at home. Do this for your own piece of mind if you are making a purchase worth thousands of dollars.

Chose Local Businesses

While buying online has numerous benefits, it is important to point out all the drawbacks of this business model. We hope you realize that this article’s purpose is not to scare you, but ensure you don’t end up with the short end of the stick. For this reason, we suggest you deal with a respectable, local coin dealership to buy coins. And when it comes time to sell coins, we recommend that you contact us here at Leo Hamel’s. Not only do we offer cash up front, you can trade your valuable coins for something from our jewelry line or watch collection. On top of that, our professional staff will assist you in any way necessary. If you have any questions about selling coins in San Diego contact us at (619) 819-9422 or feel free to swing by one of our offices as you don’t need to book an appointment in advance.