If you had a printed price list then the prices would not need tho be on the front of the slabs.
I seem to recall that the most expensive 10-15 or so coins for most dealers are generally and should be put in a segregated table so that they are watched more carefully. They should not be buried with the others. This also promotes them better as well.
Gilbert - you will never "need to wash up after shaking hands" at our table!
Supercoin, you asked
<< <i>At this point, at least, the decision has been made to keep the prices on the back of the coins. I'm curious, what is the rationale for that? Collectors complaining about the prices being on the front? >>
You asked and you will receive an answer, a long one, I might add. But, hopefully you will see, that even if you and others disagree with us, we don't take your suggestions lightly or make our decisions on a whim. Here goes, from Todd Imhof (edited by yours truly, with his blessing), one of Pinnacle's two owners, and the same guy who is nice but often wears coats and ties to shows :
"Its a combination of factors. In no particular order -- and I hope they'll appreciate my complete candidness:
A) We display coins which are often worth thousands of dollars. Putting a sticker right on the front, regardless of what it says, looks a little tacky, in our opinion. We have, from time to time, offered "specials" on a group of coins, whereby we do list a price in plain sight. For example, we might have a little hoard of $20 Saints in MS64 condition, which we'll display with a special price of say, $500ea.
A coin show is a venue where we openly compete with other companies for business. It is not necessarily smart business to let our competitors know exactly what we're asking for a particular coin -- one that they might also have, and thereby have a competitive advantage if they know our pricing.
C) Most of our coins are special and deserve a better marketing approach than simply listing our asking price. Our coins do NOT fall into the category of a commodity (i.e. common-date Morgans in MS64). We want the ability to discuss the merits (or problems) of a coin that either justifies a premium price or deserves a seemingly discounted price.
D) Flexibility in pricing. Bottom line, like nearly every other dealer, we quote different people, different prices. We quote "wholesale" prices to known dealers (who also reciprocate with discounted pricing to us). We often quote lower prices to collectors who have bought from us previously, out of appreciation for past business, etc.
E) Going back to point C, I want the ability to at least know who has an interest in a particular coin. Often times, a collector will approach our table, see an item we're offering that matches the issue and grade of a coin he already owns and asks our price, just out of curiosity. Usually, a forthright collector will say something like, "I actually already own another 1922-S dollar in 65 that I paid a bit less for, but I think your coin's quality might be a bit higher too". That gives us (a collector-investor driven company) the opportunity to engage that collector into deeper discussion that might result in our getting a Want List (perhaps he still needs 5 or 6 dates to complete his Peace dollar set which we could locate for him in the future). Or perhaps, if our coin is truly superior to his, then we can work out a trade, right there at the show. The scenario described above really does happen -- A LOT. The bottom line? A company like Pinnacle, which specializes in collector-investor relations, displays coins, not only to sell them, but also to attract a certain type of collector to inquire more about the coins and services we offer.
We encourage ALL collectors attending shows to inquire about coins of interest to them -- regardless of price. They should NEVER be embarrassed to ask prices or to look at coins that interest them, regardless of whether or not they can afford them. Besides, dealers probably have no idea how much a collector spends on his coins. Speaking from my personal experience in the business, I have sold more $10,000+ coins at shows to guys wearing Dockers, than to guys wearing Armani suits. My biggest customer (with numismatic holdings in excess of $10 million) has never attended a show wearing anything more formal than a collared shirt !!"
Bill, I couldn't agree more with your point
<< <i>... but a dealer who will take the time to talk with you about the hobby and your interests lets the buyer know its not all about the money and once you get it he does not matter anymore. Builds a good foundation for future transactions. >>
Oreville, interesting idea about the printouts. I assure you, we will discuss it. On another matter you mentioned - unfortunately, I don't think we'll be able to offer you iced tea that competes with what you get from Heritage - sorry!
"Most of our coins are special and deserve a better marketing approach than simply listing our asking price. Our coins do NOT fall into the category of a commodity (i.e. common-date Morgans in MS64)."
So are you saying that you don't display coins at shows that ordinary everyday collectors like myself, and like a multitude of others that attend shows, can afford? You only cater to those with the big bucks? For instance, at the last few shows I've attended I was looking for, among other coins, a 1917 Type-1 SLQ graded MS64FH, a 3-cent nickel peice graded MS64, a FE cent graded MS63, a Trade Dollar graded AU58, 3-cent silver peices graded MS63 or MS64, and a 1921 Peace dollar graded MS64. Am I to understand that your table would NOT be one that I should check for the types of coins I'm looking for?
<< <i>Most of our coins are special and deserve a better marketing approach than simply listing our asking price. Our coins do NOT fall into the category of a commodity (i.e. common-date Morgans in MS64)." >>
"So are you saying that you don't display coins at shows that ordinary everyday collectors like myself, and like a multitude of others that attend shows, can afford? You only cater to those with the big bucks? For instance, at the last few shows I've attended I was looking for, among other coins, a 1917 Type-1 SLQ graded MS64FH, a 3-cent nickel peice graded MS64, a FE cent graded MS63, a Trade Dollar graded AU58, 3-cent silver peices graded MS63 or MS64, and a 1921 Peace dollar graded MS64. Am I to understand that your table would NOT be one that I should check for the types of coins I'm looking for? "
The reference to "special" was with respect to both the non-generic nature of many of our coins and their price range. I don't know what the average person spends on coins at shows, though I'm sure the range is quite diverse. I will say, however, that the vast majority of our coins are priced in excess of $400. Yes, we realize that many/most people at shows are not looking for that type of material but that is what we deal in and we're not ashamed of it. And, we're usually happy to talk coins with people, whether they are buyers of our coins or not. It is unlikley that we would typically have the types of coins you mentioned. But, that doesn't mean we're not good guys.
Comments
I seem to recall that the most expensive 10-15 or so coins for most dealers are generally and should be put in a segregated table so that they are watched more carefully. They should not be buried with the others. This also promotes them better as well.
Gilbert - you will never "need to wash up after shaking hands" at our table!
Supercoin, you asked
<< <i>At this point, at least, the decision has been made to keep the prices on the back of the coins. I'm curious, what is the rationale for that? Collectors complaining about the prices being on the front? >>
You asked and you will receive an answer, a long one, I might add. But, hopefully you will see, that even if you and others disagree with us, we don't take your suggestions lightly or make our decisions on a whim. Here goes, from Todd Imhof (edited by yours truly, with his blessing), one of Pinnacle's two owners, and the same guy who is nice but often wears coats and ties to shows :
"Its a combination of factors. In no particular order -- and I hope they'll appreciate my complete candidness:
A) We display coins which are often worth thousands of dollars. Putting a sticker right on the front, regardless of what it says, looks a little tacky, in our opinion. We have, from time to time, offered "specials" on a group of coins, whereby we do list a price in plain sight. For example, we might have a little hoard of $20 Saints in MS64 condition, which we'll display with a special price of say, $500ea.
C) Most of our coins are special and deserve a better marketing approach than simply listing our asking price. Our coins do NOT fall into the category of a commodity (i.e. common-date Morgans in MS64). We want the ability to discuss the merits (or problems) of a coin that either justifies a premium price or deserves a seemingly discounted price.
D) Flexibility in pricing. Bottom line, like nearly every other dealer, we quote different people, different prices. We quote "wholesale" prices to known dealers (who also reciprocate with discounted pricing to us). We often quote lower prices to collectors who have bought from us previously, out of appreciation for past business, etc.
E) Going back to point C, I want the ability to at least know who has an interest in a particular coin. Often times, a collector will approach our table, see an item we're offering that matches the issue and grade of a coin he already owns and asks our price, just out of curiosity. Usually, a forthright collector will say something like, "I actually already own another 1922-S dollar in 65 that I paid a bit less for, but I think your coin's quality might be a bit higher too". That gives us (a collector-investor driven company) the opportunity to engage that collector into deeper discussion that might result in our getting a Want List (perhaps he still needs 5 or 6 dates to complete his Peace dollar set which we could locate for him in the future). Or perhaps, if our coin is truly superior to his, then we can work out a trade, right there at the show. The scenario described above really does happen -- A LOT. The bottom line? A company like Pinnacle, which specializes in collector-investor relations, displays coins, not only to sell them, but also to attract a certain type of collector to inquire more about the coins and services we offer.
We encourage ALL collectors attending shows to inquire about coins of interest to them -- regardless of price. They should NEVER be embarrassed to ask prices or to look at coins that interest them, regardless of whether or not they can afford them. Besides, dealers probably have no idea how much a collector spends on his coins. Speaking from my personal experience in the business, I have sold more $10,000+ coins at shows to guys wearing Dockers, than to guys wearing Armani suits. My biggest customer (with numismatic holdings in excess of $10 million) has never attended a show wearing anything more formal than a collared shirt !!"
Bill, I couldn't agree more with your point
<< <i>... but a dealer who will take the time to talk with you about the hobby and your interests lets the buyer know its not all about the money and once you get it he does not matter anymore. Builds a good foundation for future transactions. >>
Oreville, interesting idea about the printouts. I assure you, we will discuss it. On another matter you mentioned - unfortunately, I don't think we'll be able to offer you iced tea that competes with what you get from Heritage - sorry!
So are you saying that you don't display coins at shows that ordinary everyday collectors like myself, and like a multitude of others that attend shows, can afford? You only cater to those with the big bucks? For instance, at the last few shows I've attended I was looking for, among other coins, a 1917 Type-1 SLQ graded MS64FH, a 3-cent nickel peice graded MS64, a FE cent graded MS63, a Trade Dollar graded AU58, 3-cent silver peices graded MS63 or MS64, and a 1921 Peace dollar graded MS64. Am I to understand that your table would NOT be one that I should check for the types of coins I'm looking for?
<< <i>Most of our coins are special and deserve a better marketing approach than simply listing our asking price. Our coins do NOT fall into the category of a commodity (i.e. common-date Morgans in MS64)." >>
"So are you saying that you don't display coins at shows that ordinary everyday collectors like myself, and like a multitude of others that attend shows, can afford? You only cater to those with the big bucks? For instance, at the last few shows I've attended I was looking for, among other coins, a 1917 Type-1 SLQ graded MS64FH, a 3-cent nickel peice graded MS64, a FE cent graded MS63, a Trade Dollar graded AU58, 3-cent silver peices graded MS63 or MS64, and a 1921 Peace dollar graded MS64. Am I to understand that your table would NOT be one that I should check for the types of coins I'm looking for? "
The reference to "special" was with respect to both the non-generic nature of many of our coins and their price range. I don't know what the average person spends on coins at shows, though I'm sure the range is quite diverse. I will say, however, that the vast majority of our coins are priced in excess of $400. Yes, we realize that many/most people at shows are not looking for that type of material but that is what we deal in and we're not ashamed of it. And, we're usually happy to talk coins with people, whether they are buyers of our coins or not. It is unlikley that we would typically have the types of coins you mentioned. But, that doesn't mean we're not good guys.