What Is: Coin Dealers?
Coin dealers, or professional numismatists, are involved in the commercial buying, selling, evaluation and grading of coins. Numismatics, the collection and study of currency, specifically coins, and related objects as works of art and sources of information, is derived from the Latin "numismatis," meaning coin. Expert coin dealers/numismatists serve to advance the study of money, and are sometimes consulted by archaeologists, historians and museum curators for their expertise on currency. At this time, coin dealers are largely unregulated by government, but many belong to professional and/or trade organizations such as the Professional Numismatists Guild (PNG) and the Industry Council for Tangible Assets (ICTA). Recently, though, state and federal officials have been calling upon Congress to consider regulatory oversight in the coin industry. Because coin dealers give investment advice to consumers regarding what to do with their money, many feel that they should be held to the same standards as other financial industries that advise consumers on investments