Modernizing the purchase of coins – Numismatic news

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Bahrain coin dealer Mohammed Al Aradi recently introduced what he hopes will become a new way to buy not just numismatic collectibles, but collectibles in general.

In April, Al Aradi announced that its auction house Arados was launching Urbiz, a mobile app specializing in collectibles and auctions. It took Al Aradi two years to develop the app, which he says is meant to connect people around the world in one secure platform through which anyone can buy and sell.

According to Al Aradi, “The app offers two different types of sales; the first is direct selling whereby items are displayed with prices. The second is the auction – which can take anywhere from a day to a month – and this will increase awareness of this beautiful hobby. It can be considered an alternative form of investment and the application is open to anyone, anywhere to buy and sell.

The Kingdom of Bahrain is a small archipelago in the Persian Gulf consisting of 50 natural islands and 33 artificial islands. As such, Bahrain is better known for its date palms than as a hub for coin collectors.

Al Aradi has other ideas. He said: “This app will strengthen Bahrain’s position as a regional hub for these types of investments…Many high net worth individuals are looking for alternative investment streams to differentiate their portfolios while spreading risk in efforts to minimize.

“We wanted to have a platform to connect people around the world with a shared love for collecting and investing in collectibles while giving them easy access to a network to buy and sell in a safe, secure and user-friendly.”

He explained: “It took two years to create this app, from brainstorming, to development, to testing, until we finally reached a stage where I felt comfortable enough to present it to people. .”

“I really believe that Bahrain can be the regional hub for this type of investment and a society for collectors, especially as the appetite for this area has increased over the past few years.”

Al Aradi observed that demand for antique coins has been particularly high, although the general collectibles market has been strong since the start of the pandemic. He has also observed that the number of registered companies offering courses, workshops, exhibits and published books on coins and other collectibles is growing globally.

Apps aren’t new to the technology surrounding coin collecting. As an example, Professional Coin Grading Service offers a Coinfacts app promoted as “the ultimate mobile resource for buying, selling, trading and collecting US coins.” Now featuring the PCGS Price Guide and PCGS Photograde, the new and improved 100% free PCGS CoinFacts is first on CoinWeek’s list of must-have apps for coin collectors.

Urbiz is available free for iPhone and Android according to Apple.com, “Arados Auction House gives you the opportunity to run your own online business (Urbiz app) from which you can earn money by running your business comfortably from home, creating opportunities for people to join the booming e-commerce industry.

At the time of writing, Urbiz was rated 4.8 out of a possible 5 on Apple.com. Al Aradi seems to be more interested in promoting his app for world and ancient coins than competing in the US coin market.

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