Coin collecting is one of the world’s oldest hobbies which was traditionally practiced as a pastime of the wealthy. Fast forward to today and the reasons for people to collect coins vary; some collect coins because they are rare, some because they think that their collection might increase in value, some coins are already considered valuable and others just like the way their collections look!
No matter what the reasons for a coin-collectors treasure chest increasing in size, a collector no longer has to make a trip to an antique fair or coin specialist to make the next addition to their collection. The online market is currently saturated with those who want to buy and sell coins to add to their collection, and it is possible, in fact extremely common, for people to make those precious purchases from the comfort of their home.
It is vital that if you are buying or selling coins online that you engage with a third party such as Escrow.com who will ensure that both the purchaser and the seller are kept safe throughout the online transaction. When a coin purchase is made online, the value of the coin is based on factors such as age, location and its current market value. With coins varying in financial worth the purchaser relies on the word of the seller that the coin is worth as much as they say.
Using Escrow.com to complete the financial transaction means that once the sale has been agreed, the cost of the coin is placed in a third party holding account until the purchaser is satisfied that they have received the exact coin that they agreed to purchase.
Once the coin has been received by the purchaser, they have an agreed time limit to have the coin valued and validate its authenticity. If there is any question of the legitimacy of the coin, a dispute is raised with an Escrow.com representative who will resolve this with both parties interests in mind. It is only when the purchaser is completely satisfied with the coin that funds will be released to the seller completely removing the risk of any fraudulent activity taking place and keeping the buyer safe.
Escrow.com also provides safety to the seller, they do not dispatch the coin to the purchaser until the funds have been deposited into the third party’s holding account which means that there is no risk of non-payment, all items bought and sold through Escrow.com are tracked so a purchaser is unable to claim that an item hasn’t been received as often happens in online transactions. Whether you are purchasing coins to add to your collection or are involved in online trading to help others with their collections, it is crucial that you use the services of an online third party such as Escrow.com who will protect both the buyers and sellers in the financial transaction. Both parties sign a contract with Escrow.com making them liable if they don’t meet those terms and conditions. This keeps finances safe and removes all risk of fraud and non-payment to both parties. If you are buying or selling coins online contact Escrow.com today to find out how we can ensure your transaction remains safe at all times.