What are proper manners for want lists?

BlueCole

I'm thinking about putting together a want list to post and give to dealers. What is the proper way to do it? Of course, i don't a lot of expendable income right now, so what i was thinking of is to call the dealer, and tell him, "I've got 35 bucks to spend. Pull together the nickles that i need from my want list."

Would that work? or would dealers not want to waste time on a want list that won't get used but 1-2 a month?

Thanks for any help.

B.

DesertLizard

This should be interesting!

Dealers line up in single file please!

KoinKollector

Im all in favor for sending want lists to my "favorite"(read, select few, of whom i do most business with) my want lists. Dont shoot yourself in the foot later on when your looking for a rarer piece. When I was looking for a nice problem free 1841-O closed buds dime, I went and talked to one dealer about it. Dont need to create atrifical demand between dealers competiting for that coin for YOU!

leothelyon

If you ask a dealer to fill a want list and when you don't like what you see, shouldn't you be obligated to buy them anyway after you had him do all that searching and gathering. Unless
your aware this dealer knows full well of the quality of coin you want from past dealings with you, then you'll have no problems. Dealers are reluctant to go out on a limb for small change that's why they have those grab boxes and gigantic coin folders set out on their counters, which is likely from where they'll fill your want list. But they may jump on $250.

Leo

flaminio

I'd be interested in seeing what dealers would like to see in a "want list". I tried sending mine around to a few dealers, and didn't get a single response. I must've done something wrong...

BlueCole

As far as quality, just plain circ that show a date and MM to fill holes in my folders. Will any other dealers respond?

B.

airplanenut

It depends- my dealer normally gets cheap coins only in lots and generally doesn't look at them- sends them away/sells as a huge sack. If you have a dealer who sees the dates on coins he buys, ask him to hold the coin/tell you if he runs across it, but don't have him go out of his way to get it.

If he goes out of his way, he expects you to buy the coin- if he just happens to have it, there is no harm in holding if for a few days for a potential customer.

Jeremy

coinguy1

BlueCole,

This reply might cause some to frown upon our company, but we believe in being completely candid about things. Most of our want lists are for coins that are four figure or five figure items. Very few of the lists are for coins that sell for less than $300. We prioritize the lists based on a number of factors, including how well we know the client and his tastes, whether the client says "I'll need to see it first" or "just buy it for me", etc. We spend a lot of time and effort searching for coins on those lists.

Regarding your question "what are the proper manners for want lists" - it is best to give the dealer as much information as possible. Let him/her know what coins you seek, in what grade ranges, what levels you are a buyer at, if you will need to see the coin before committing to it (be careful about that unless you really know and trust the dealer), if you want toned or untoned examples, etc. Also, the dealer should be told how best to reach you - the easier it is to reach you, the better the chances he will work with you. Be sure to contact/update the dealer if you no longer want or need coins on the list you have provided him with!

If you are looking for $5 coins, I would suspect that few dealers will be willing to help you, unless that is the type of material that they typically deal in anyway. Your best bet might be to find local dealers you can visit from time to time and/or see if there are local coin shows you can attend.

SarasotaFrank

I have circulated my current want list to both dealers I work with. Neither are going to be inlcined to bid against each other for these coins.

They know me, they know my "ouch" point. They have these lists and the list is for the purpose of "if you come across this, let me see it first", or - if you come across these, I am a buyer in the comfort zone you know me for.

I had a dealer call me from a show and let me know he had located a Morgan that was more expensive than I would normally buy. He was on the floor at the show, told me the price and asked if I wanted the coin. He knew he could buy it with full conifdence I would take it, and would only call me if he knew it was of teh quality I was seeking.

My want lists are not the type which would be - "go find these".

I also give my dealers my "upgrade list". They know my collections and they know I have coins in lower grades I want to move up to higher grades. They also know they will be able to buy the lower grade coind from me and move it to a different customer.

It's really a relationship based on trust and knowing your customer and your dealer. Kinda like 10(b)4.