PNG vs. IBNS: Finding Dealers You Can Actually Trust

You’ve found a $5,000 note at a great price. The seller seems legitimate, the images look good, and the deal feels right. But how do you know you can trust this dealer? Professional organizations like PNG and IBNS provide frameworks for identifying trustworthy currency dealers—understanding them helps protect your purchases.

The PNG: Professional Numismatists Guild

The Professional Numismatists Guild (PNG) represents the elite tier of American coin and currency dealers. Membership requires sponsorship by existing members, demonstrated expertise, financial stability, and commitment to ethical dealing. PNG dealers have skin in the game—they can be expelled for misconduct, damaging their businesses and reputations.

PNG members agree to binding arbitration for disputes. If you have a problem with a PNG dealer, the organization provides mediation and resolution processes. This accountability exceeds what you’d have with unaffiliated sellers—there’s real recourse if something goes wrong.

Finding PNG dealers is straightforward. The organization’s website (PNGdealers.org) maintains a searchable member directory. Many members display PNG logos prominently. At major shows, PNG dealer tables often cluster in designated areas.

The IBNS: International Bank Note Society

The International Bank Note Society focuses specifically on paper money collecting. While not exclusively a dealer organization (collectors and scholars belong too), many serious currency dealers maintain IBNS membership. The organization’s publications and conventions create community where reputation matters.

IBNS membership suggests engagement with the currency collecting community. Dealers who participate in IBNS events, contribute to publications, or serve in organizational roles demonstrate commitment beyond pure commerce. This engagement correlates with expertise and accountability.

The IBNS convention circuit provides opportunities to meet dealers personally. Face-to-face interaction helps assess trustworthiness better than online interactions. Dealers who appear regularly at shows build track records visible to the collecting community.

The ANA: American Numismatic Association

The American Numismatic Association provides another dealer accountability framework. ANA dealer members agree to codes of ethics and face potential sanctions for violations. While ANA membership is broader than PNG (easier to obtain), it still indicates willingness to operate within established frameworks.

ANA conventions feature extensive dealer bourses. Attending these shows lets you interact with dozens of dealers, compare offerings, and observe how they operate. Dealers with ANA life memberships and convention participation history have more at stake than anonymous online sellers.

Beyond Organizational Membership

Organizational affiliations provide signals, not guarantees. Some excellent dealers don’t belong to major organizations. Some members have lapses. Use affiliations as one factor among many in assessing trustworthiness.

Track record matters more than credentials. A dealer operating for 30 years with a strong eBay feedback score and no complaints on collector forums may be more trustworthy than a recent PNG member you’ve never heard of. Time in business demonstrates sustained customer satisfaction.

References from experienced collectors provide valuable insight. Ask knowledgeable collectors in your specialty areas which dealers they trust. These recommendations, based on actual transaction experience, often prove more valuable than organizational memberships.

Due Diligence Steps

Search dealer names in collector forums. The Paper Money Forum, CoinTalk, and similar communities contain years of discussion including dealer mentions. Patterns of complaints—or conspicuous absence of complaints—reveal operational quality.

Check feedback on transactional platforms. Dealers selling on eBay, Heritage, or similar platforms have public feedback histories. Low feedback scores, recent negative reviews, or complaint patterns require investigation. High feedback from currency transactions specifically (not just general sales) indicates relevant experience.

Verify return policies before purchasing. Reputable dealers offer reasonable return windows—typically 7-14 days for any reason. Policies refusing all returns or imposing onerous conditions suggest problems. If a dealer doesn’t stand behind sales, question why.

Red Flags to Watch

Pressure tactics indicate problems. “Buy now or lose it forever” rarely reflects reality. Currency collecting isn’t high-pressure sales—reputable dealers let you consider purchases without manipulation. Aggressive tactics suggest desperation or deception.

Grading discrepancies warrant caution. If a dealer’s “Uncirculated” notes consistently look Very Fine, their grading standards don’t match the market. Systematic overgrading indicates either incompetence or dishonesty—neither inspires confidence.

Unwillingness to provide additional images or answer questions raises concerns. Legitimate dealers understand buyer caution and accommodate reasonable requests. Evasiveness about condition, provenance, or authenticity suggests something to hide.

Building Dealer Relationships

Start with small purchases from new dealers. A $50 transaction tests their packing, shipping, communication, and accuracy without significant risk. Satisfactory small purchases build confidence for larger commitments.

Communicate your interests clearly. Dealers who understand what you collect can alert you to relevant acquisitions. This relationship benefits both parties—you get first access to suitable material; they get reliable customers for specific inventory.

Provide feedback, positive and negative. Dealers rely on reputation and appreciate positive reviews when earned. If problems occur, give dealers opportunity to resolve issues before escalating. Most reputable dealers will make things right when aware of problems.

Finding trustworthy dealers takes time and attention but provides lasting benefits. Once you’ve identified reliable sources, collecting becomes more enjoyable and secure. The effort invested in vetting dealers pays dividends throughout your collecting career.