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Published: Wednesday, 04 November 2009 00:00


Mike Fuljenz is one of the most universally decorated coin experts of the last 30 years. He has won the Presidential Service Award from the American Numismatic Association. Coin marketing is a tough business in the best of times, but with so many coin frauds and scams operating out of fly-by-night buildings, manned by aggressive telemarketers, his well-established coin and bullion company must overcome the natural resistance of consumers accustomed to cold calls from unfriendly and anonymous coin salesmen. That’s why time-tested stability is the first thing buyers should look for in their coin dealer. Verify that a coin business is a member in good standing with the Better Business Bureau.


In order to test the validity of a coin dealer, the first thing you must do, Mike Fuljenz says, is buy low-margin gold bullion coins, to see if coin dealers mark up their bullion too far. In normal market times, the mark up should be about 6% over spot bullion for one ounce pieces. If you see a coin dealer charging 10% of more over spot gold prices for a commonly traded one ounce bullion coin, that’s a red flag. The dealers should also honor a “Do Not Call” request. Most phone salesmen try to change the subject or attack the elderly person’s resolve by intimidation, but any telemarketer should always honor any such “do not call” request. Finally, always ask if dealers buy back the products they sell. Reputable coin dealers typically pay more for coins they previously sold.