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Wholesale Pricing (Dealers & Investors)?

Now I’m not exactly Will Hunting in the math dept but for an industry centered around people LITERALLY selling money to each other for a living…..I have some questions that I can’t seem to get straight answers for. I KNOW be missing something important.
Ok Here goes:
1. How could one get into business at all let alone succeed for 3yrs without looking like a total scum bag if retail pricing is all they had access to?

  1. Couldn’t that scenario last those full 3 years? Example: One purchases a $90k coin intending to sell it for $100k hoping for a $10k profit. Only ANY DEALER with a pulse & a table can swoop in & sell the same coin for $85k having only paid $70k for it themselves.

  2. What’s to stop an investor from becoming a dealer for their own coin purchases only (with no intention of selling them)?

  3. Or the same investor from becoming a dealer for the freedom & Peace of mind associated with sending their own coins in for grading?

  • I can’t be the only one terrified at the idea of handing a $100k coin to a middle man that promises to send the coin in for grading on my behalf a few days later along with the next batch?

Comments

  • ifthevamzarockinifthevamzarockin Posts: 8,498 ✭✭✭✭✭

    You would need a lot of knowledge about coins before you invest 90K or there is a very good chance you would not be happy with your results. ;)

  • YQQYQQ Posts: 3,272 ✭✭✭✭✭

    the saying goes:
    "do you want to make 1 million dollars fast?
    Invest 2 million in coins.....????????????

    Knowledge is all it takes . most dealers make their $$$ when they buy!!!!
    But that can lead to a whole bunch of other questions???

    Today is the first day of the rest of my life
  • There’s No amount of knowledge or experience that will have a client spend $20k more in order to do business with me. It’s human nature and remedial math. I’d go with a dealer too.

    The initial post was about:
    • wholesale pricing for Investors..
    • Buying rare coins in volume and very expensive ones at that.
    • Handing over a $120k coin to shady dealers that I don’t trust because a 3rd party has determined that they are legit . No one’s entitled to full visibility of my investments. If I can’t send my own coins in for grading they are provided that info. Reminds me of HIPPA violations when privileged patient info is shared with outsiders.

    Last time they I checked my money was green like everyone else’s.

    The message seems clear. The industry doesn’t want any new dealers.

    Not sure how long yall have been dealers but feel free to tell me what I don’t know that will save me time, $, & resources. No need to sugar coat it or worry about hurting my feelings.
    What is it that I don’t know but need to hear.

  • lermishlermish Posts: 1,908 ✭✭✭✭✭

    If I can’t send my own coins in for grading they are provided that info.

    Uh..... https://www.pcgs.com/join

  • ifthevamzarockinifthevamzarockin Posts: 8,498 ✭✭✭✭✭

    @johnmcco said:
    The message seems clear. The industry doesn’t want any new dealers.

    It's not that the industry doesn't want new dealers, it's just not an industry that you can jump into without knowledge.

    Just because I have the money to rent an office space doesn't mean I can be a doctor. ;)

  • @lermish said:

    If I can’t send my own coins in for grading they are provided that info.

    Uh..... https://www.pcgs.com/join

    @lermish said:

    If I can’t send my own coins in for grading they are provided that info.

    Uh..... https://www.pcgs.com/join

    @lermish said:

    If I can’t send my own coins in for grading they are provided that info.

    Uh..... https://www.pcgs.com/join

    @lermish said:

    If I can’t send my own coins in for grading they are provided that info.

    Uh..... https://www.pcgs.com/join

  • Lermich- thank you. Didn’t know about that. Just signed up for Platinum Level. 👍

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