They have been known to dabble at times of peak interest, but then drop out again. Private deals direct with other members of the public can be successful, but there are potential dangers, particularly regarding security and forgeries, which are quite common. Specialist coin dealers often provide a very competitive service. Naturally it is advisable to find a reputable one. Any members of the BNTA, the British Numismatic Trade Association, should be safe enough.
Members operate a code of conduct.
We have been members since its inception. VAT and Gold Coins VAT was introduced on April 1st 1973, but gold coins were exempt until 1973, when they became Vatable. Antique coins were excluded, the only VAT element on them being on the dealers margin. Since then we and a few other dealers have operated a brokerage or commission scheme, whereby we would match bargains between private buyer and seller, again the only VAT was on our commission. Since January 1995, the VAT status of second-hand goods has been changed.