Can a dealer act as a broker? 0

[Lastufka Collection]

I'm talking to another individual who wishes to sell a very high priced coin collection. I'm interested in buying, but don't feel comfortable with a private transaction at these numbers (five figures). Would contacting a dealer and paying them a small fee to act as a broker for the transaction make sense? Is that something dealers offer?

[Revenant]

What value do you think the dealer would provide in this case? You already identified the seller. You already agreed on a price it sounds like. A broker would normally act to help you and the seller find each other and help with price negotiation. In your case it sounds like they'd just be taking your money.

[Lastufka Collection]

Well if I send the seller a check, where's the guarantee I get my coins? If I send the seller paypal, what's the guarantee I don't get a box of bricks with an insured tracking number? And on the seller's end, how is he guaranteed I won't file a false refund request via PayPal once I have the coins? I don't know this seller outside of a few emails over the last two days, and he doesn't know me.

The dealer would be a trusted third party that I could send my check to, and the seller could send his coins to, and then when the dealer has received both, they could mail me my coins and the seller his money. This ensures we both get what we want without any worry.

Edited December 22, 2019 by AlanLastufka

[Revenant]

I take it that you're too remote to handle this transaction face-to-face?

At that point what you suggest might be worth it, but it seems like there should be an easier and cheaper way to solve that problem.

[Six Mile Rick]

Maybe you need to take a trip and get your collection face to face.

[Walkerfan]

I wouldn't bother. 

Using Paypal with a credit card is safe enough for me.

It acts as a liaison and protects from fraud.    

[Coinbuf]

A plane ticket (unless you are on separate continents) would solve all your issues and cost about the same I expect.  As to your original question yes I'm sure that a dealer could act as a go between for some level of compensation, but you would have to find a dealer that both you and the other party know and trust.  Seems like a much harder proposition than an airline ticket.

[RWB]

What are the things you would expect a coin dealer to do as intermediary? If those involve little or no specific numismatic expertise then why pay 10% extra? Any trusted individual with some numismatic knowledge could probably handle the transaction for a small fee - say, 1% plus expenses.

However, as others have noted, you should do it yourself unless there is some impediment.

[Star City Homer]

You are looking for an escrow type service it sounds like...sometimes I wonder if this would be a thing for the interwebs.  It wouldn't protect against a nefarious chargeback on PP or a credit card 3 months later, but it does seem like a trusted third party to ensure cleared funds and products would be a thing.  That said, references can usually work too.  Most people are actually honest it turns out.

In any case, perhaps you should both present references and avoid credit cards or paypal.  That might help.

[Lastufka Collection]

Thanks all for the advice and feedback, looks like most here are trusting, and that's good. I sell and buy a ton on eBay and other forums with feedback features and I've never been screwed, but the potential is always there. Coin forums can sometimes feel like the wild west unless you're dealing with someone you've known for a while. I think we'll move forward privately and I'll hope for the best.

[Jade Collection]

@AlanLastufka If you do get the collection, please post it! Welcome back again

[Conder101]

Yes it sounds like what you want is an Escrow.  Better choice than a coin dealer in that case would probably be a bank or a lawyer.  I believe there are also professional escrow services as well.