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What is a dumb thing you ever heard a coin dealer say?

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.

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Comments

  • lermishlermish Posts: 1,752 ✭✭✭✭✭

    Where is @DeplorableDan with his MS-Paint/Photoshop skills?

  • blitzdudeblitzdude Posts: 5,278 ✭✭✭✭✭

    @MFeld said:
    What is a dumb thing you ever heard a coin dealer say?

    "Buy the coin, not the holder".

    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™.

  • jkrkjkrk Posts: 948 ✭✭✭✭✭

    I'm sorry but I have nothing to add.

    I've never spoken to a dealer

  • ToreyTorey Posts: 109 ✭✭✭

    @blitzdude said:

    @MFeld said:
    What is a dumb thing you ever heard a coin dealer say?

    "Buy the coin, not the holder".

    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!

    Meh, I want both. Awesome coins in rare plastic.

  • Married2CoinsMarried2Coins Posts: 136 ✭✭✭

    @MFeld said:
    What is a dumb thing you ever heard a coin dealer say?

    "Buy the coin, not the holder".

    ;) Just kidding!

    Until I "got" your joke I didn't think you understod the OP question.

  • JW77JW77 Posts: 438 ✭✭✭✭✭

    @jfriedm56 said:
    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.

    Actually she turned out to be pretty darn smart!

  • jkrkjkrk Posts: 948 ✭✭✭✭✭

    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?

  • FrazFraz Posts: 1,520 ✭✭✭✭✭

    “I’m here to sell coins, boy.”

  • lermishlermish Posts: 1,752 ✭✭✭✭✭

    Neat to see you over here @JohnBCoins ! Really been enjoying your good work at the forum across the street!

  • AlanSkiAlanSki Posts: 1,657 ✭✭✭✭✭

    The tattoo convention is across the street.

  • DisneyFanDisneyFan Posts: 1,537 ✭✭✭✭✭

    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!

  • TimNHTimNH Posts: 104 ✭✭✭

    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.

  • U1chicagoU1chicago Posts: 5,495 ✭✭✭✭✭

    @jkrk said:
    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?

    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.

  • airplanenutairplanenut Posts: 21,852 ✭✭✭✭✭
    edited February 3, 2024 8:40PM

    @JohnBCoins said:

    @MrEureka said:
    I once had a dealer tell me that I should stop buying when I run out of money. I kid you not.

    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

    Now he'll show you his old Baltimore badge and that he's a doppelganger for a murderer

    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • airplanenutairplanenut Posts: 21,852 ✭✭✭✭✭

    I've had numerous dealers say one of the following:

    "You'll love this coin"

    "This would be great for your collection"

    Uh... nope!

    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • CoinHoarderCoinHoarder Posts: 2,372 ✭✭✭✭✭
    edited February 4, 2024 7:06AM

    .

  • nwcoastnwcoast Posts: 2,807 ✭✭✭✭✭

    @DisneyFan said:

    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

  • PerryHallPerryHall Posts: 45,189 ✭✭✭✭✭

    @cameonut2011 said:
    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.

    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.

  • logger7logger7 Posts: 7,938 ✭✭✭✭✭

    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.

  • BStrauss3BStrauss3 Posts: 3,023 ✭✭✭✭✭

    @MFeld said:
    What is a dumb thing you ever heard a coin dealer say?

    "Buy the coin, not the holder".

    ;) Just kidding!

    Unless you are a slab collector in which case buy the holder not the coin!!!

    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
  • Manifest_DestinyManifest_Destiny Posts: 2,961 ✭✭✭✭✭

    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.

  • jayPemjayPem Posts: 3,976 ✭✭✭✭✭

    @PerryHall said:

    @cameonut2011 said:
    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.

    This makes no sense but if it's who I think it is I'm not surprised.

    Reverse psychology.. affluent bidder then kicked it into high gear and really started bidding up her auctions... just to teach her a lesson 😂

  • johnny9434johnny9434 Posts: 27,306 ✭✭✭✭✭

    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

  • BAJJERFANBAJJERFAN Posts: 30,956 ✭✭✭✭✭

    When you hear a dealer inferring or saying outright that they know something about PCGS that nobody else does.

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