What is a dumb thing you ever heard a coin dealer say?
Married2Coins
Posts: 369 ✭✭✭
Perhaps this belongs in the humor discussion.
Many people sellimg coins are not very knowledgeable. In another forum, I read two very knowledgeable members commenting about coin dealers in general. Obviously, many knowledgeable ones post here also. What I heard in a brick and morter store today made me cringe but I just bit my tongue.
What appeared to be a beginning collector questioned if one of the coins being offered was cleaned (from where I was bending over looking into a display case about two feet away IT WAS!) . The dealer replied, "Look, if you just touch a coin it's cleaned." That poor new collector fell for it. At least it was genuine and made of silver!
I wanted to say something but it is a no win situation. One day, when he shows it off at a coin club or tries to sell it, that collector will learn the truth about what looked like a typical XF/AU crappy, common date , "bright" bullion coin.
Comments
Some of the low-ball offers that I've received from dealers fall in this category.
Worry is the interest you pay on a debt you may not owe.
Where is @DeplorableDan with his MS-Paint/Photoshop skills?
Chopmarked Trade Dollar Registry Set --- US & World Gold Showcase --- World Chopmark Showcase
What is a dumb thing you ever heard a coin dealer say?
"Buy the coin, not the holder".
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
When I collected Lincolniana I had a well-known dealer in CO absolutely insist that the portrait on a Confederate note was Lincoln. It was Jeff Davis. Either he was amazingly thick or thought I was.
I was at a show and one dealer had prices clearly marked on all his coins, I asked to see something, and told him I’d buy it and he says “ oh no! those prices are what I paid for them” 🙄
Went to a local coin shop I think it was around 2010 and while I was looking through her book of American Silver Eagles, noticed all of them (from1986-2010) were marked $10.-$11.50. In asked her how much they were and she told me I guess I'll sell them for what they were marked because she never updated her prices and she was an honest dealer. I said I'd take them all. Her face turned bright red, so I guess that was the dumbest thing a dealer ever said to me. I did business with her for another 10 years after until she retired.
No doubt. Unfortunately, the days of collecting the coin appear to be long gone. Most of the kids now days care only about stickers , labels and plastic types. Crazy World!
The whole worlds off its rocker, buy Gold™.
Don’t make me break out the wheel 😂.
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I'm sorry but I have nothing to add.
I've never spoken to a dealer
Meh, I want both. Awesome coins in rare plastic.
Until I "got" your joke I didn't think you understod the OP question.
one time i was selling some currency so that i could have money to buy coins. I wanted to buy a gold coin. so, i took the currency to a local b&m store that buys and sells both, figuring i could make a deal.
there were two guys in the shop. the the first guy greeted me and asked how he could help. i said i have some bills i want to sell. he said let's see them. i had a stack of 15 different pieces of US currency in different denominations. I showed about 2 of the bills and the second guy pipes up from the back of the shop and says, "look...we're not interested." i asked why. he said the bills are low end and not worth anything. i replied, "you haven't even seen them all." angrily, he said "i...don't...care. your bills are WORTHLESS! i was kinda shocked and I said ok then...i was going to buy a gold coin, but i'll leave. he grew even more angry and said YOU WANT TO SEE A GOLD COIN, I'LL SHOW YOU ONE! and he looked like he was going to throw something at me...so I turned and left. to this day i have no idea why this exchange went this way. I never went back.
i sold my bills on ebay and later bought a 1 oz gold coin with the proceeds.
@steveben ...wow!
In honor of the memory of Cpl. Michael E. Thompson
Actually she turned out to be pretty darn smart!
“You can’t afford that.” They would no show me the lot. I was well dressed.
I once had a dealer tell me that I should stop buying when I run out of money. I kid you not.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I had a conversation with a potential buyer on E-Bay. He asked if the coin had any scratches that were distracting?
It was an NGC gold double eagle with a CAC sticker. I looked at the coin and responded that the surfaces looked relatively clean but there was a couple of small scratches on the coin. I mentioned that he could return the coin if not up to his satisfaction. He then asked for a 7% discount. I told him to pass as I looked at the coin once again and i believe he wouldn't be happy with it.
Was that dumb?
“I’m here to sell coins, boy.”
Lol, I'm am sure you never ever considered that option.
I can tell everyone what the dumbest thing I ever said as a coin dealer.
I bet $10 Andy Lusting he wasn't 19 years at a Long Beach show about a year, maybe two, after I met him. I did make him produce his driver's license to prove his age to me. I lost that bet. I also never bet against someone's stated age since that time. One of the many great lessons you have taught me over the past 45+ years.
John Butler
Neat to see you over here @JohnBCoins ! Really been enjoying your good work at the forum across the street!
Chopmarked Trade Dollar Registry Set --- US & World Gold Showcase --- World Chopmark Showcase
The tattoo convention is across the street.
The father of my best friend down the street ran a small diner and somehow had accumulated a small group of silver dollars over the years. He just saved them because they were silver dollars, He actually had a couple of 1903-Os before they became common. He also had a 1893-CC. His son was just delighted when he discovered their value in the Red Book and we went to downtown Chicago to a dealer whose shop windowed on the street. The busy shop was basically run by high school kids with the owner overseeing it.
My friend showed the 1893-CC, which was not a worn coin, to the "kid," who immediately said they weren't interest in the coin as it was just another silver dollar. Crestfallen, we left, we were just young teenagers.
A few years later I ended up buying all of his coins as he said coin collecting is a disease and he couldn't stop buying them. A few more years later sold all my coins to buy stamps!
Dealer: Whattya looking for?
Me: Chain cent (among other things)
Dealer: Oh yes, I've got one, it's an AG3, coming right up!
Me: [eyes light up, that's gonna be right in my price range at the time]
Brings out the foulest corroded thing you've ever seen, barely recognizeable, in an ANACS AG3-Details holder. OK, so ANACS does put a number on their details coins, but funny how he didn't mention the 'details-corroded' part, thought maybe I wouldn't notice.
I went to a coin show here in Buffalo NY in 1977. A dealer was showing a book with coins in it to a few other customers. I was looking at his cases and the guys left. I say to the dealer can I see the book behind you.. The dealer looks at me and said cocky.. "There is nothing in here you can afford." I was so mad but I still had the $800.00 in my wallet. My brand new Cutlass Supreme in the parking lot and $28 k in my bank account for a 22 year old kid in the 1970s I was living a good life...... You know I still think about it now and then ...
It seems like a fine decision to me. That type of questioning followed by asking for a discount sounds like a potential issue. You saved yourself the expense of paying for shipping back and forth and worrying if the same coin would be sent back.
Seems like "you can't afford that" happens quite a bit. It happened to me off and on when I was in my 20s. I finally showed a wad of cash to one dealer that said that to me, while he fumbled for the coin I was interested in after he saw the cash. I told him no thanks.
I've also walked away from tables where the dealers went over the top political with me, when they didn't even know me.
10-4,
My Instagram picturesErik
My registry sets
Now he'll show you his old Baltimore badge and that he's a doppelganger for a murderer
I've had numerous dealers say one of the following:
"You'll love this coin"
"This would be great for your collection"
Uh... nope!
You were doing WELL!
I walked into a coin shop the dealer asked "is there anything I can show you?"
I said "yes, I would like to see that 1885 CC Morgan."
He said "That's an expensive coin are you sure you can afford that?"
I pulled out $2K in hundred dollar bills and said "well I could have."
I walked out and never went back.
Had this happen the other week at a show. First of all, I dont wear fancy clothes, I wear bummy comfortable stuff,
Was walking by a case and happen to see a 1796 in Fine, even though I probably would want a higher grade for myself it was worth looking. I asked the dealer" can I look at the 1796, he said " do you have any idea the value of this coin, and I said yeah around 25k, he suprisingly said "close 26k " Then I asked to look at another early cent, like he was bothered wasting time, and then he said " you know I can work with you on payment terms, if your intrested, " I then stated , if it something I like , I would just buy it outright. after that this guy started trying to show me all kind of stuff he had on the back table
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When I ask to see a coin and the dealer says "You can't afford that coin", I assume he's either a psychic or stupid. I've never met a coin dealer who was a psychic.
Worry is the interest you pay on a debt you may not owe.
0> @BillJones said:
>
This has happened to me as well. I’m sure you was dressed just fine,
>
But this also happens with salesmen of cars, etc. and not just coin dealers.
They take one look at a person and form an opinion, for whatever reason, that the person couldn’t afford a particular item.
>
This is a a major mistake made by sellers. In my area, many very wealthy people ‘dress down’ but they are quite capable of buying just about anything they want. Insulting them is never a smart way to run a business and make sales, IMO!
Edited to correct typos.
Funny thing, a Mercedes dealer once told me his salespeople rush over to prospective clients that are not well dressed as they are the ones who have the money and don't need to impress anyone.
It’s encouraging to read that someone has wised up!
Thanks.
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
I did read a well known dealer trashing bidders who bid up coins at her auction house… That dealer had a grudge against one affluent collector in particular. Not a wise move IMHO.
I became good friends with a local dealer. One day he looked me in the face and called me stupid for collecting variety coins. He went on to say that it was a waste of time. I cherrypicked his inventory for over 40 years. Today, many of those coins bring crazy money over what I paid. He passed a few years ago and I still miss him. His shop was always busy and had a great inventory. We had some great times.
This makes no sense but if it's who I think it is I'm not surprised.
Worry is the interest you pay on a debt you may not owe.
I had a raw Morgan that was beautiful. I may have posted an image of it here I don't know for sure.
Anyway In I show it to a dealer at a local show.
He takes and looks at it and says "it's a 63 " then hands it back to me and says I'll pass.
He was rude almost as if he had no time for me.
Nobody was at his table. Regardless it was sent to PCGS and came back as an MS67. I sold that coin for $1100.
I would have sold it raw for $700.
I have to wonder how many superstars like that there are.
It was only a local show and most of them are weekend warriors. The only thing I could think of was that he didn't have the money to buy it. That's probably happens alot. Many dealers fall in love with their inventory and have a hard time letting it go.
You can tell the serious sellers. They always have fresh inventory and money to spend.
I just hate when the Grey sheet comes out when they want to buy but when you pull one out to make a purchase attitudes change.
It's tough out there. 😀
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
I can't think of any but I do remember dumb things I've said!
What gets me is dishonesty in its many forms, where a dealer will run down any coin not in their chosen grading company's holder and "properly graded"; "graded by a blind man on a Monday" is one line, or "not in a real company's holder". Take away the greed, and the hobby enjoyment might come back.
Unless you are a slab collector in which case buy the holder not the coin!!!
ANA 50 year/Life Member (now "Emeritus")
When this coin was raw( the condition I purchased it at), I asked a dealer at a show what he would grade this coin. I already had an opinion of the grade, but wanted to get others thoughts as I was going to send it to PCGS for grading. He looked it over and told me it wouldn’t straight grade. Said it was cleaned and looked like someone used a Brillo pad on the eagle’s breast. Maybe EF details cleaned he said. I thought it would 62, but didn’t. I never went back to him- dumbass. Just felt like he was intentionally negative because he didn’t own it.
Dealer promoting his coin:
"Now THIS is a coin that was once uncirculated." Huh?
Coins are an emotional business for many people, both collectors and sadly far too many dealers. It's just business, Play or pass and leave the emotion off the bourse.
Dealer: Sorry this is a cleaned XF. I can only offer VF money for it.
Collector: I bought it from you 6 months ago as a choice original AU.
Dealer:
Reverse psychology.. affluent bidder then kicked it into high gear and really started bidding up her auctions... just to teach her a lesson 😂
I started to look at a 24 canadian cent that was a 55 with a tint of red
I wasent informed that there was major scratch on obverse
Dealer told me that the scratch had nothing do with the coin, put coin down,smiled and walked
When you hear a dealer inferring or saying outright that they know something about PCGS that nobody else does.