Certified Coin Dealer

How Do I Become a Certified Coin Dealer?

To become a certified coin dealer, a person must first become a coin dealer. That means developing the professional skills of knowing and being able to grade coins and do business effectively in the rare coin market. It requires having sufficient collateral to do business, no problems with the law, and strong references regarding credit and professionalism.

The requirements for being a PCGS Authorized coin dealer are as follows:

* Full time coin dealer for three years

* Applicant and key employees with no felony conviction for at least 5 years

* Business capitalization, including inventory, of over $100,000

* A minimum of three credit references

* A minimum of three PCGS Authorized Dealer references

If an individual wishes to have a rare coin or two certified, it does not make sense to become a member of PCGS and pay the annual fee. Investors take their coins to a PCGS Authorized dealer who maintains a business relationship with PCGS. The dealer passes the coins on the PCGS for certification and then back to the investor.

To become a PCGS Authorized coin dealer requires presenting PCGS with information sufficient to demonstrate that criteria above are met. The individual must contact PCGS directly to receive an application and return the required documents.

For someone who is just starting out, the path to become a certified coin dealer is to learn about coins as a hobbyist, work for or become a dealer to learn the trade, and then spend a minimum of three years as a coin dealer before applying to PCGS. The road is long, but it is a unique opportunity for those who make it.