Coin shows: cash, check, or charge?
nwcs
Posts: 13,386 ✭✭✭
When you go to a coin show, do you pay with cash, check, or charge? Do you find sellers reluctant to take out-of-state checks (which is likely for larger shows)? Do any sellers at shows take credit cards? Or is it mostly a cash transaction?
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Comments
Liberty: Parent of Science & Industry
Walt
well, maybe not "we" but you know some do, you know the type
Liberty: Parent of Science & Industry
Cash is a much better negotiating tool than any other payment form. It's much easier to put exactly what you're willing to pay for a coin in your pocket, pull it out count it in front of the dealer and say "damn, all I have left is $xxx.xx! I'd love to buy it, but I guess I spent too much today." Can't do that with a credit card or a checkbook.
Russ, NCNE
Dave
Actually, you'd be surprised how often that works. It's particularly effective for coins you scope out early in the day that they still have toward the end of the day or the next day.
First day he started at $45, got him down to $38, said I'd think about it. Back the next day, he still had it. Pulled out the $35 I wanted to get it for, said that was all I had left and he sold it to me.
Russ, NCNE
It is a bit more problematic for collectors. I'll typically accept a check from a collector if he can provide a few references and a driver's licence. I haven't been burned yet although to be honest with you, there's a certain 'gut feel' involved in the process. I've also accepted American Express traveler's checks.
Finally, I will accept cash if the collector has a good reference................like Benjamin Franklin.
GSAGUY
<< <i>Cash is a much better negotiating tool than any other payment form. It's much easier to put exactly what you're willing to pay for a coin in your pocket, pull it out count it in front of the dealer and say "damn, all I have left is $xxx.xx! I'd love to buy it, but I guess I spent too much today." Can't do that with a credit card or a checkbook.
Russ, NCNE >>
Ah yes, the old swap-meet, garage sale tactic. You're right though, it can and does work.
Joe
GSA....
would you take my check?
Maybe I look honest
I will take my duplicates or coins I am no longer interested in and instead of selling will trade. I believe you receive more value in trading then simply selling, plus it's fun.
It's one area I wish we had more of. Over on the Buy/ Sell/ TRADE board I see very little in the way of trades!
peacockcoins
Yes, the dealers will rip you off if not careful!!
However, I do find that you can usually get a better price if you pay with CASH.
Joe.
Dave
Mikey
Sometimes I'll pay by check, but not often and usually it is to one of the auction companies. Dealers don't seem to like it - even the ones that you've done business with before.
I find it too much of a pain in the ass to try and trade coins. I usually get lowball offers for nice coins. Then the dealer gets pissed when I tell him I'll take his offer if he'll accept 80% back of Bluesheet for the coin I'm interested in.
FrederickCoinClub
But scope out the show and find the ATM first.
bring coins to trade, because as Greg says, most offers I get for them aren't serious. The
credit card fee always gets passed on to the buyer.
Smaller dealers & dealers who don't know me prefer cash.
Tip: Check your limit re your ATM card and find out if there's an ATM you can use before you go
to the show.
"Seu cabra da peste,
"Sou Mangueira......."
If you take cash, they'll rob you in the parking lot on your way in.
If you take your checkbook, they'll rob you in the parking lot on your way out.
My posts viewed
since 8/1/6
Have you ever been to a computer show? EVERY vendor is set up to take credit cards. I don't understand the coin dealers' reluctance, but it's a rare coin dealer who will take them. I understand sales tax may be an issue here, too, but if I were a coin dealer, I'd rather have the money electronically transferred, rather than worrying about a big wad of cash all weekend.