Coin Dealer-In his house

[Tourney64]

I went to get my 2 ATB Silver Bullion 5 oz coin sets sent in for certification yesterday via going to a coin dealer. The coin dealer actually had his operation in the basement of his house.I get in there and he has several bags of silver coins in ziplock bags, and some bags of gold sitting around on tables. The guy had ADT security system. I would not want to have my public coin operation, set up in my house. His address is listed on PCGS. He only does this via appointment. His garage was open so I'm sure his house wasn't 100% secure. Maybe he doesn't always meet at his house, but maybe since I had $3K of coins it wasn't an issue.

[avidbrandy]

Or maybe he keeps it in a massive secure underground safe and brings it up to show off to people with appointments.

I have at least one person like that in my area. I just went to a coin dealer instead but I guess there's no reason not to go through someone at their house, if it's listed on the site.

[Copper Catcher]

About twenty years ago my father and I went to a older man's home who was a huge dealer that had lots of rare gold coins and key dates etc. Well over $100,000 in inventory he spread out on his kitchen table. It was mindblowing! You just never know what folks are carrying.

Nowadays I don't see how dealers can sleep at night because you can't buy insurance to cover all that, it is too expensive.

Also home owners insurance normally does not cover much by way of coins or bullion or even firearms if they are stolen. If they do the limit is so small it is about nothing.

I did run across a company one time that did cover collections. http://www.collectinsure.com/
Collectors may purchase coverage for Gold & Platinum coins up to $20,000

[Tourney64]

He said his shipment of the coins was insured by Lloyd of Londons. My guess is his whole business is insured by them.