I learned my lesson

PeakRarities

After making several recent purchases from eBay, I now understand that ill be much better off working with a local coin dealer. I took a drive today and actually found a nice coin store with an honest owner. He critiqued some of my purchases and told me the prices I paid were actually pretty good, but I'm going to be working with him moving forward to build my gold type sets. I'm happy to put some money in his pocket to utilize his expertise in picking better coins. I sold him a 5$ and 10$ Indian that I bought that I wasn't fond of, and he gave me over 90% of what I paid for them. He offered to list coins on eBay too but I decided I'm going to send some of the others to Great Collections, I'm curious to see how that process goes and ill post a review of my first experience with them. He also felt that my $5 Liberty PCGS 64 might be CAC worthy so that will be going out next week. He told me he will start trying to pick up some double eagles and I can go look at them before I buy them, no pressure. Thank you to all the members that have given me some honest advice!

pursuitofliberty

You know Dan, for a completely Deplorable guy you seem to have picked up on something fairly quick.

There's a place for everything, but it's hard to go wrong with a dealer that wants your business and is willing to help you build a good collection.

moursund

@pursuitofliberty said:
You know Dan, for a completely Deplorable guy you seem to have picked up on something fairly quick.

There's a place for everything, but it's hard to go wrong with a dealer that wants your business and is willing to help you build a good collection.

I should so more with my local dealer... but it sure is enticing to browse ebay listings of an evening...

planetsteve

Consigning to GC is amazingly easy. Totally agree that finding a professional with integrity is a big help in building a collection.

No Headlights

Good job. Fast learners pay less tuition!

davewesen

no counterfeits?

Zoins

Were all your eBay coins PCGS non-CAC?

Smudge

You are lucky to have a good local dealer.

PeakRarities

@davewesen said:
no counterfeits?

😂 Thankfully not, I only bought slabbed coins . I’ve made the mistake of buying raw coins on ebay a few years ago and won’t ever do that again until I can identify cleaned coins. He actually said I did well with the prices, like I said in another post the one $20 gold piece already sold for 500 more than I bought it for. When I get better at grading I’ll start perusing online more but for know I’m gonna let him locate the coins first and I can see them in person before I buy them.

logger7

I remember some of the experts talking about the type of clients they like. "Here's $50,000 and these are the coins on my want list." There are lessons to be learned in all these transactions. No one wants to lose money, but we have all gone through the reality on many transactions that we are not going to get out of many of them without a loss. There is no Santa Claus in numismatics.

clarkbar04

I’m a huge fan of buying coins on eBay, especially raw coins. So I’d be interested to know why it didn’t work.

PeakRarities

@clarkbar04 said:
I’m a huge fan of buying coins on eBay, especially raw coins. So I’d be interested to know why it didn’t work.

I bought a rare date Morgan that graded details. I had poor knowledge of the coin and overall lack of experience. I’m not saying I’ll never use eBay again, I’m just gonna work with a dealer for a couple months and then I’ll venture out when I have more knowledge.

skier07

I’ve said this multiple times in the past. Unless you’re an expert don’t buy expensive raw coins. At least on eBay you have a return option.

TomB

It all sounds good, but now you just have to make certain that your local dealer knows what he is doing and that he is working in your best interests. Good luck!

skier07

@TomB said:
It all sounds good, but now you just have to make certain that your local dealer knows what he is doing and that he is working in your best interests. Good luck!

+1

This is the best advice you will get.

PeakRarities

@TomB said:
It all sounds good, but now you just have to make certain that your local dealer knows what he is doing and that he is working in your best interests. Good luck!

My coin dealer is Gary Tancer with boca coin and jewelry, from what I hear he’s been in the business for many many years, I’ve even came across his name in old posts in this forum and it seems like he has a good reputation. He explained to me what his bottom line is on a coin, and I’m comfortable with that. After buying several coins that I wasn’t impressed with, I’m ok with paying an extra premium to see the coin in hand first. As another member has in his signature, something like “ the pain of a poorly graded coin long outweighs the price difference in buying it” or something along those lines. I’m willing to pay a percentage higher if I can see my coins first.

scotty4449

I think that's a wise decision. Expect to pay some $ though. Quality gold is expensive these days, especially if it's CACed.

davewesen

@skier07 said:
I’ve said this multiple times in the past. Unless you’re an expert don’t buy expensive raw coins. At least on eBay you have a return option.

but if you are inexperienced, many times with coin in hand you still do not know you were screwed

DeplorableDan, gold was below $1250 a few times before 2019 so buying well could have involved gold price move.

PeakRarities

@davewesen said:

@skier07 said:
I’ve said this multiple times in the past. Unless you’re an expert don’t buy expensive raw coins. At least on eBay you have a return option.

but if you are inexperienced, many times with coin in hand you still do not know you were screwed

DeplorableDan, gold was below $1250 a few times before 2019 so buying well could have involved gold price move.

I’m not a completely clueless, I recognize what coins are original and which have been cleaned too much. One of the reasons I flipped the series one double I just bought. I just think for a couple months it might be good to see coins before I buy them, then I’ll venture out on my own

ricko

@DeplorableDan ... I believe you are making the right move.... You will learn things along the way... Meanwhile, the coins you will be viewing have the insurance of an experienced dealer evaluating them first. Good luck... Cheers, RickO

pcgscacgold

Looks like you found a unicorn in that dealer. I hope your dealings continue to work out for you and your knowledge increases.

mark_dak

@davewesen said:

@skier07 said:
I’ve said this multiple times in the past. Unless you’re an expert don’t buy expensive raw coins. At least on eBay you have a return option.

but if you are inexperienced, many times with coin in hand you still do not know you were screwed

DeplorableDan, gold was below $1250 a few times before 2019 so buying well could have involved gold price move.

Yes, gold is up but so are premiums, especially pre-1933 stuff. Prices have increased along with many other coins and collectibles. I purchase raw gold all the time... never on eBay. I like seeing what I am purchasing in hand. It helps to look at thousands and thousands of coins to feel comfortable with purchases. My LCS dealer is a great guy and always offers me fair prices. Good luck DeplorableDan!

Mark

MasonG

@pcgscacgold said:
Looks like you found a unicorn in that dealer.

As Dan is willing to recognize his limitations, it looks like the dealer found a unicorn in that collector.

WAYNEAS

Hey don't be a stranger here.
I enjoy your posts.
Wayne

winesteven

Dan, good move in working with a local dealer. Many of my coins have been purchased from dealers. However, don’t artificially reduce your sources. The majority of my purchases have been via auction, and I’ve found they provide unbiased advice when asked to look at a coin in hand for me. At two of the auction houses I buy from, when I see coins I need/want where the high resolution photos look good to me, about 80% of the time they tell me to pass. This service is FREE. As my mom taught me, “If it’s free, it’s for me”.

Steve

PeakRarities

@winesteven said:
Dan, good move in working with a local dealer. Many of my coins have been purchased from dealers. However, don’t artificially reduce your sources. The majority of my purchases have been via auction, and I’ve found they provide unbiased advice when asked to look at a coin in hand for me. At two of the auction houses I buy from, when I see coins I need/want where the high resolution photos look good to me, about 80% of the time they tell me to pass. This service is FREE. As my mom taught me, “If it’s free, it’s for me”.

Steve

Steve, are you saying I could call in to great collections or heritage and someone there would be willing to give me an unbiased opinion of the coin? That would be very helpful.

winesteven

Absolutely YES! This is one of the best kept secrets. Just keep in mind the numismatists are off on weekends, so allow plenty of time to call before you place your bid shortly before the lot ends.

Happy Hunting!

Steve