Precious Metals & Collectibles Risk Disclosure

1. We are a dealer, not an adviser

Denari Coins buys and sells coins and bullion as a merchant. We are not an investment adviser, financial planner, commodity trading advisor, or broker-dealer, and we are not registered with the SEC, CFTC, or any securities regulator. Nothing we publish — listings, the Journal, the podcast, appraisals, or market guidance — is investment, legal, or tax advice or a recommendation tailored to you. Decide for yourself, or consult a licensed professional, before purchasing.

2. Prices can fall

Precious metals prices are volatile and can decline significantly and rapidly. The numismatic (collector) value of coins is driven by collector demand, rarity, and grading opinion, and can fall independently of metal prices. Past performance does not predict future results. You may not be able to resell an item for what you paid, or at all, within any particular timeframe.

3. Premiums and spreads

Our sell prices include a premium over the metal's spot value; dealer purchase (bid) prices are below sell (ask) prices. This spread means an item generally must appreciate before resale would return your purchase price. Premiums themselves fluctuate with supply and demand.

4. Grading is opinion

Third-party grades (NGC, PCGS, ANACS, ICG) are professional opinions, not guarantees of value. The same coin can receive different grades on different submissions, and market values for the same grade vary between services and over time.

5. Liquidity

Collectible coins — particularly ancient coins — are not a liquid market. Selling can take time and may require auction consignment, dealer sale at wholesale bid, or price concessions.

6. No income, no guarantees

Coins and bullion pay no interest or dividends. Denari Coins makes no representation or warranty about future value or appreciation, and any statement of opinion about the market is not a promise. No government agency insures the value of your purchase.

7. Concentration and suitability

Physical metals and collectibles are generally regarded as a diversification of — not a substitute for — savings and diversified investments. Do not purchase with funds you cannot afford to leave illiquid or expose to loss.

8. Storage, insurance, and taxes

After delivery you bear the risks of loss, theft, and damage; homeowner policies often have low precious-metals limits, so consider a rider or vault storage. Sales or use tax may apply depending on your state, and gains on resale may be taxable as collectibles gains. Consult your tax adviser; we do not provide tax advice, though we file reports where the law requires.