Dealer-to-dealer coin networks

RYK

On another thread, a dealer (who I had previously thought was a collector) complained about getting jammed with some low-end $20 libs "sight unseen on a dealer-dealer network".

It got me thinking (did you smell the wood burning? ), what does it take to get on the dealer-dealer coin network? Do you need credentials? Recommendations from other dealers? Show receipts from previous transactions? A business tax id #? Just pay the costs for membership?

Longacre

This is a good question. There are no bars to becoming a dealer (even Longacre could become one tomorrow, or even today), but I am interested in what sorts of credentials are required to join a dealer to dealer network.

PTVETTER

I think you need a business lic and resale tax ID #
Some require references also

Greeniejr

If I understand correctly it depends on which network. I think the requirements for CCE are much higher than for Coinnet (formerly the teletype system). You definitely need references for either. The thing is though, just because you are on Coinnet, it does not mean that the people on there will trust you.

CaptHenway

<< <i>If I understand correctly it depends on which network. I think the requirements for CCE are much higher than for Coinnet (formerly the teletype system). You definitely need references for either. The thing is though, just because you are on Coinnet, it does not mean that the people on there will trust you. >>



There are people in the world, on both sides of the counter, whom I would not trust face to face with cash in their hands.
The dealer-to-dealer networks tend to be self correcting. If somebody is a bad apple word gets around.
MOO
TD

ColonialCoinUnion

It reminds me of the old Seinfeld joke where he concluded that the only thing required to become a NYC cab driver was a face (so that they could put a picture of it on your ID badge).

LindeDad

<< <i>It reminds me of the old Seinfeld joke where he concluded that the only thing required to become a NYC cab driver was a face (so that they could put a picture of it on your ID badge). >>




That and paying the costs up front should work.

shorecoll

Yeah, FYI, those networks aren't cheap either.

RTS

what does it take to get on the dealer-dealer coin network?

You'd think at a minimum it would require the ability to negotiate day-to-day generic gold purchases without seeking the counsel
of strangers on the Internet.

RYK

<< <i>what does it take to get on the dealer-dealer coin network?

You'd think at a minimum it would require the ability to negotiate day-to-day generic gold purchases without seeking the counsel
of strangers on the Internet. >>


My guess is that the application does not include an essay test.

Frankcoins

I was on CoinNet (www.coinnet.com) for many years as BM13, Finally dropped it a few years ago when we started buying all coins sight seen.

The other network, Certified Coin Exchange, was bought out by PGCS, and some dealers grumble about paying $395 a month and still having to watch what they say about PCGS.

MMB

Certified Coin Exchange (CCE) is the dealer to dealer trading network which has been around for over 30 years in various forms.
CCE migrated towards the internet in the mid 1990’s from the old teletype network FACTS.

All the top US dealers are CCE members and many post daily bids and asks for certified coins.
The certified coins that trade on CCE are PCGS, NGC, ANACS, and ICG. Dealers post both “sight unseen” and “sight seen” bids.

CCE also has a message “broadcast” section for dealers to do all sorts of business. Over 500 dealers are members and participate on a daily basis. 1000’s of numismatic “Wholesale Deals” are done on the “tape” every day. The network deals in all items numismatic, we are not just certified coins. We have a great mix of dealers, ones that deal in Certified, Modern, Raw, Bullion, Foreign, Currency and everything in between.

Not just anyone can be a CCE dealer. Each application is evaluated and investigated ,references are checked along with other data. And the CCE community of dealers is aware of applications and has a chance to comment before new members are approved.If you are interested in becoming a dealer member, view our CCE application at

https://www.certifiedcoinexchange.com/secure/CCEOrderForm.asp

There is also a public section of CCE….Collectors Corner. This is where the CCE dealers post there coins for sale to the public. It is the largest online coin offering in the world. As of today there are 60,634 coins valued at $71,467,820 posted for sale on Collectors Corner. And unlike some other online “stores”, only authorized CCE dealers can offer coins…so you basically know who you’re dealing with and don’t have to think about Chinese counterfeits, whether you’ll actually get the coins you pay for and other issues. You can view the coins on Collectors Corner at http://www.collectorscorner.com/

If you have any questions, feel free to call us anytime.

Cassi East at 800-733-6623
Mike Brandow at 800-669-3158
www.certifiedcoinexchange.com
www.collectorscorner.com

PS…David Hall and Laura Sperber told me to tell you they post their coins for sale on Collectors Corner!

PTVETTER

MMB must have the lowest daily post average
35 post since 2005

coindeuce

Mike Brandow is THE MAN where it concerns C.C.E. Great person and very easy to work with.

DieClash

<< <i>... view our CCE application at

https://www.certifiedcoinexchange.com/secure/CCEOrderForm.asp

There is also a public section of CCE….Collectors Corner. This is where the CCE dealers post there coins for sale to the public. It is the largest online coin offering in the world. As of today there are 60,634 coins valued at $71,467,820 posted for sale on Collectors Corner. And unlike some other online “stores”, only authorized CCE dealers can offer coins…so you basically know who you’re dealing with and don’t have to think about Chinese counterfeits, whether you’ll actually get the coins you pay for and other issues. You can view the coins on Collectors Corner at http://www.collectorscorner.com/

If you have any questions, feel free to call us anytime.

Cassi East at 800-733-6623
Mike Brandow at 800-669-3158
www.certifiedcoinexchange.com
www.collectorscorner.com

PS…David Hall and Laura Sperber told me to tell you they post their coins for sale on Collectors Corner! >>




Mike, thanks for this info. I had no idea. I will definitely check out the offerings on Collectors Corner before pulling the trigger on an eBay auction first.

DieClash