Regarding numismatic purchases, how likely are you to engage with a cold sales call? Why?

The likelihood tends toward zero. I barely answer the phone anymore for any caller, and when it comes to buying stuff, I’ll reach out if I want anything.

Henry Mensch, Syracuse, N.Y.

In all my years of collecting I have never bought any products being offered from a telephone solicitation. Some calls are from companies that I have dealt with before but a lot are companies that I’m not familiar with. Seeing U.S. Mint silver Eagles being advertised for $19 each online, I’m more suspicious of any products being offered. Burned once, their fault; burned twice, my fault.

Roy E. Robertson, Annapolis, Md.

When I get cold calls, I immediately get defensive. Many of these callers know next to nothing about numismatics; they just want to sell you what they have been told to sell you. I start asking very penetrating questions, and they get nervous because they can’t even answer simple questions. They don’t know what NGC or PCGS stand for. They don’t have a clue about the Sheldon grading scale.

When they get persistent, I tell them okay, if you want to do business with me, send them to me on approval. If I like the coin or your price, I will cut you a check or just return them if I don’t. This usually ends the call.

Occasionally I will get a likable, knowledgeable dealer, and we will have a good conversation. However, that’s few and far between.

Roy Herbst, Address withheld

I do not entertain unsolicited sales calls. Too many calls are coming in now from various sources. If I want or need something, I’ll find you.

K.E., Germantown, Ohio

I have never received a numismatic cold sales call, and if I did, I would just hang up.

Bill R., Atlantic Beach, Fla.

As dealers, we see the after-effects of these calls. Overpaid, undervalued. Many people come in with graded PF-69 gold American Eagles from 1995. The majority purchased through a cold call. They paid over $14,000 for 1.85 troy ounces of gold, which, using junior high math, equals $7,567.57 a troy ounce that they paid. When you may walk into any coin shop and purchase 1.85 OZT at a portion of that figure. Our experience is that not a single buyer has come out ahead.

Carl Hornburger, Integrity Coin Store

I say, “No, thank you,” and hang up. Why? I know what I want to buy and how much I can spend, and I absolutely buy from only trusted dealers and auction houses. I have entertained calls from my trusted dealers/auction houses and bought coins in areas of interest; otherwise, I am very patient and disciplined and rarely deviate from my acquisition plans.

Lorne Lavertu, Herndon, Va.

I don’t like buying anything sight unseen. I don’t have any coin shops or shows within a two-hour drive of my home, so I purchase a lot of my coins online, but I always make sure to closely examine photos before I buy. For certified coins, I always compare the certification number on the slab with photos shown at the appropriate grading company to make sure it is the real thing. That being said, I have purchased a few items from advertisers in your magazine, feeling they are trustworthy or their ads would not be allowed.

Daryl Conley, New Mexico

Almost never. It’s usually an unknown dealer or a dealer I rarely use because they cold call and/or generally are more expensive than my regular dealers

Ernesto Aguilar, via Facebook