Should there be a "Coin Dealers licences?"

seemyauction

We require licences for other professional services, why not Coin Dealers?

Would it help clean up some of the shady dealers out there?

Bjorn

No, and no...

JamesMurray

<< <i>No, and no... >>



Why not ? It seems a fair enough suggestion.

Julian

It has been looked at before, but who would do the licensing? Who would come up with the requirements?

There was never any consensus of opinion and it never went anywhere.

RWB

Should there be a "Coin Dealers licences?"

I think that if coin dealers will shower more frequently and wash their hair (those that have hair), they will not have “lice” and will not need “licences.”

JamesMurray

The obvious choice might be the big grading companies.

Longacre

Yes. My barber needs a license before he is allowed to give Longacre a coiffure. Given the dollar values involved withe coins, and the "financial" aspect of them (although we all know that dealers do not give financial advice), there should be license requirements, a test, ethics rules, and mandatory CLE each year. Given that coins are a financial market, perhaps the SEC should regulate dealer activities. I am open to other recommendations.

coinkat

No

sinin1

that sounds like an idea coming from one of the few coin dealer schools in the country

JamesMurray

<< <i>We require licences for other professional services, why not Coin Dealers?

Would it help clean up some of the shady dealers out there? >>



You know...it might come to it , if its the only way to beat the counterfeiters.Theres a huge problem brewing with imported fakes in american hands,it isnt going away.

BNBAnalytics

Absolutely should be licenses and they should be sponsored by either the federal government or the major TPG's should start a division..

I'm all for it!

dbldie55

Horrible idea. I guess if you hate the hobby, you would be all for it.

yellowkid

Bad idea, what, a state agency to watch over them?????

carl

Kind of a funny question though. Sort of like saying there should be a licence for auto theft, finding money on the street, selling at a garage/yard/estate sale, used auto salepeople, flea marketers, telemarketers, etc. Just to many different types of so called professions out there. If you go to a lot of coin shows, gun shows, knife shows, cameral shows, computer shows, etc. you would see there alone the licenses would be extensive and almost impossible to monitor.

jmski52

Yeah, maybe the government could hire another 50,000 bureaucrats and we could pay twice as much per transaction. Real smart. Not!

TwoSides2aCoin

<< <i>Yes. My barber needs a license before he is allowed to give Longacre a coiffure. Given the dollar values involved withe coins, and the "financial" aspect of them (although we all know that dealers do not give financial advice), there should be license requirements, a test, ethics rules, and mandatory CLE each year. Given that coins are a financial market, perhaps the SEC should regulate dealer activities. I am open to other recommendations. >>



I'll sell you a roll of brown wheaties for a buck and a half, plus shipping. (just not on Sundays)

RYK

Should jewelers be licensed? How about grocers? Salespeople at The Gap? Should anyone who sells anything have a license?

mozin

I would like to see PCGS/NGC/ANACS/ANA/PNG become a lot more choosy about who they accept as one of their registered dealers. The requirements currently used, in my opinion, are not nearly strict enough. I would even like to see a criminal background check required, along with a credit check.

If someone wants to be called a coin dealer, but not show affiliation with any of the above organizations, that would be fine. There is really no way to stop them from calling themselves coin dealers. The top coin dealers would show affiliation to all of the above organizations, and be proud to do so.

JamesMurray

<< <i>Should jewelers be licensed? How about grocers? Salespeople at The Gap? Should anyone who sells anything have a license? >>



To a certain degree they already do , in most retail situations the staff have to undergo training , often weeks of it.Im not saying all , but the big guns all do.

RYK

<< <i>

<< <i>Should jewelers be licensed? How about grocers? Salespeople at The Gap? Should anyone who sells anything have a license? >>



To a certain degree they already do , in most retail situations the staff have to undergo training , often weeks of it.Im not saying all , but the big guns all do. >>


Licensing, to me, implies an independent agency to check credentials and qualifications. Spending a week interning behind the counter and learning the ropes at Joe's Coin and Bait shop would likely not count.

RWB

Re: Longacre’s comment about his hair stylist.

While a professional occupational license is commonly required to cut hair, none is needed to shear the sheep at a coin show.

Dealers are subject to the same retail trade and local business operating licenses as other businesses. It is only a few – largely those affecting personal health/hygiene or finance – for which a separate professional competency license is necessary. With coin collecting being a hobby for most, it does not seem to fit into the area that would suggest either special credentials or regulatory oversight.

Bottom line: No.

JamesMurray

<< <i>

<< <i>

<< <i>Should jewelers be licensed? How about grocers? Salespeople at The Gap? Should anyone who sells anything have a license? >>



To a certain degree they already do , in most retail situations the staff have to undergo training , often weeks of it.Im not saying all , but the big guns all do. >>


Licensing, to me, implies an independent agency to check credentials and qualifications. Spending a week interning behind the counter and learning the ropes at Joe's Coin and Bait shop would likely not count. >>



The reality is far different.As i say , not all have the same standards , but the big respected ones do , and it would go on an employees resume as a qualification.

MrEureka

If the government were to require coin dealers to be licensed, I would think that restrictions would be placed on all non-licensed individuals, including collectors. In fact, collectors would probably be barred from selling coins to anyone but a licensed dealer.

Patches

Yes, more Government is the answer to everything...it fixes all problems and is the best way to have things done legally!

P.S.
How would one control eBay or a BST board here? What constitutes a dealer? How many coins they sell per year? The dollar amount they sell per year? The idea is horrible if you ask me. I would exit this hobby in a heartbeat.

RYK

<< <i>If the government were to require coin dealers to be licensed, I would think that restrictions would be placed on all non-licensed individuals, including collectors. In fact, collectors would probably be barred from selling coins to anyone but a licensed dealer. >>


The dealers and auctioneers would benefit tremendously. Maybe you should work within the PNG and ANA to promote the idea!

TwoSides2aCoin

<< <i>We require licences for other professional services, why not Coin Dealers?

Would it help clean up some of the shady dealers out there? >>



Name the shady dealers and I will tell you if it would help.
I know some shady contractors and the license didn't help a bit.

AUandAG

<< <i>Yes. My barber needs a license before he is allowed to give Longacre a coiffure. Given the dollar values involved withe coins, and the "financial" aspect of them (although we all know that dealers do not give financial advice), there should be license requirements, a test, ethics rules, and mandatory CLE each year. Given that coins are a financial market, perhaps the SEC should regulate dealer activities. I am open to other recommendations. >>




hahahahahaha, this is sooooo funny!

Your barber deals with health issues from the aforementioned lice to shingles and other transmitted diseases. They truly need to be
educated and informed to do their job without spreading problems. I think your idea is good for coin doctors, though.

bob

Barry

I have to pay for my medical license, so it's only fair that coin dealers help support our bureaucratic infrastructure as well.

As a side benefit, it may lead to an agency that can handle grievances and complaints, unlike the ANA and PNG who have no real power.

TigerGirl1398

<< <i>The obvious choice might be the big grading companies. >>

shorecoll

I think a voluntary licensing program would be good, maybe that's what PNG is supposed to be. I'd like to see Coin World and Numismatic News have to flag ads that are not from "licensed" dealers. Seems silly that crooks have been advertising since the 60's and there's never a way to deal with it.

Some states have separate bullion dealer licenses but I think enforcement is weak to non-existent. In fact, I've heard that only licensed dealers ever get hassled.

johnny9434

i think dealers should be registered and have a place where they can get an atta boy or take a hit as a bad boy. jmho

MrEureka

i think dealers should be registered and have a place where they can get an atta boy or take a hit as a bad boy.

You mean like this forum?

BigE

Selling new US bullion coins to the public requires a license, in a sense----------------------------BigE

Blackborder

Licensed dealers would be even more arrogant and condescending than they are now.

LindeDad

I am still wondering who would issue the licence and who would have to have it?
And I find that having a drivers licence does not make one a good or bad driver.
So what does it mean to be a Licenced Coin Person.

coinkat

I said no and I will remain in the NO camp

This is a Hobby- government needs to focus on things that they already seem unable to handle-

I want an energy policy that involves a plan that compares to what T Boone Pickens promoted-

Health Care-

Education-

I do not want this to turn into a political debate- but lets remember what is important. There are a few questionable dealers but collectors need to TAKE RESPONSIBILITY for their actions (where have we heard that before?)

johnny9434

<< <i>i think dealers should be registered and have a place where they can get an atta boy or take a hit as a bad boy.

You mean like this forum? >>


this is a good start, but it does not cover the everything

kurtdog

<< <i>Should there be a "Coin Dealers licences?"

I think that if coin dealers will shower more frequently and wash their hair (those that have hair), they will not have “lice” and will not need “licences.” >>

kurtdog

<< <i>Re: Longacre’s comment about his hair stylist.

While a professional occupational license is commonly required to cut hair, none is needed to shear the sheep at a coin show.

Dealers are subject to the same retail trade and local business operating licenses as other businesses. It is only a few – largely those affecting personal health/hygiene or finance – for which a separate professional competency license is necessary. With coin collecting being a hobby for most, it does not seem to fit into the area that would suggest either special credentials or regulatory oversight.

Bottom line: No. >>

bidask

No, simple reason.......this is a HOBBY!

Walmann

Its a funny thing, those that issue or make laws requiring the licences have positions that don't require licenses themselves.

In many cases, not all, licences tend to become only reveune streams for some level of authority.

lkenefic

Absolutely!! We all need to know our place and what a better way to solidify who is on which side of the table than to license who gets to sell. Perhaps we should also license who gets to purchase as well. That way we can segregate "licensed buyers" from "licensed sellers" and the "wannabes" just go poof!

kurtdog

<< <i>Given the dollar values involved withe coins, and the "financial" aspect of them (although we all know that dealers do not give financial advice), there should be license requirements, a test, ethics rules, and mandatory CLE each year. Given that coins are a financial market, perhaps the SEC should regulate dealer activities. I am open to other recommendations. >>


"What the hell is this 'unauthorized practice' stuff, Judge? All I was trying to do was sell some of my lousy coins on eBay!"

PerryHall

Do people who sell real estate have to have a license? There are many coins that are worth more than my house.

lkenefic

Real Estate also has liabilities associated with it. Testing for radon gas, structural integrity, furnace...ect, ect... These issues aren't associated with coins.

PerryHall

<< <i>Real Estate also has liabilities associated with it. Testing for radon gas, structural integrity, furnace...ect, ect... These issues aren't associated with coins. >>



Coins also have liabilities associated with it. Counterfeits, overgraded, tooled, ATed, repaired, misrepresented, harshly cleaned, etc.......these issues aren't associated with houses. Like I said---there are many coins that are worth more than most houses.

keets

Should there be a "Coin Dealers licences?"

there are a lot of replies against the idea, i wonder if those same members would be against all dealers simply getting their vendors license to set-up at shows. i think if most small shows were "raided" the majority of dealers in attendance would be found to be un-licensed.

it seem like a trivial thing, but it isn't.

LindeDad

I have this eerie feeling that. Some state governers are thinking.

"Now as soon as everybody has a licence then we know who to collect the sales taxes from."

And city Mayors are thinking.

"Now we know who to charge for a business licence."

buffalohunter

NEVER HAPPEN !

Silverstate

There is already a business license requirement. Why add more?