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long beach report from someone who has to ask "how much" before he can say "i'll take

zennyzenny Posts: 1,547 ✭✭
in U.S. Coin Forum
It sure sounds like fun, to go to a big coin show without having to worry how much the ms68 wildly toned commems cost - just toss em in the shopping basket and pull out the titanium mastercard and let the dealers charge what they will - maybe someday...

but here's what the show looked like to me.

Friday morning, show kinda busy, didn't seem like any great crowd, by any stretch. Said hi to coinguy1, njcoincrank and Rick Kay. Did a little once around.

Started showing the small box of coins i had to receptive dealers, and while i'll grant you it was not an "A" box or even a "B+" box, there were nice, decent coins in there. No bites.

Went to the very lightly attended pcgs lunch, (in a new ballroom, which may have accounted for people not finding it), where MDWoods showed off some nice toners, a nice giveaway went to melikecoins, Homerun pitched the world series...

Back to the bourse where it was tough, apparently, to sell anything but the highest quality coins for good money. I sold a couple pieces, but there just wasn't a whole lot of interest.

saturday was the usual plod, big dealers gone, others packing...

so, all in all, pretty much a big ho-hum after FUN.

Here is my highlight reel of the show, it's called "A Tale of Two Dealers."

Dealer no.1, ironically enough, is well-known and well loved on the boards. He had bought a coin from me at FUN and pm'd me to tell me they turned the coin quicker than they thought and got more money as well, so he was going to pay me more for the coin! At long beach, he gave me the check and also gave me a very fair (the best i was given for any coin at the show) offer for another i had.

Dealer no.2, i see him at shows, seems like a nice guy. Looked through the box ended up with two coins. Beat me down on the price until i just said uncle. Paid me with a check with a bible verse on it. Showed the nicer coin to a dealer he knew before i was even out of earshot saying "hey, look what i got for 25 bucks over greysheet." (I did turn around, and to my great pleasure, the other dealer wasn't impressed in the least - although i know it's a nice coin worth at least a little more than i gave it to him for, at least my nose wasn't being rubbed in it by two dealers at once immediately after the sale.)

If you hadn't already guessed, dealer no.1 goes by the name coinguy1 here. And although i understand these are two discrete, almost totally unrelated interactions, dealers need to understand just how important it is to treat people well. I may be selling now, but in the future, i very well may be buying again. You can choose to make a customer for life, or you can choose make an extra $50 bucks one day and never see that guy again...

but hey, you're professionals, you already knew that, didn't you?

z

ps. hey Julian, are you okay? Didn't see you at the show, hope it's not health related or anything and you just decided to skip it!

Comments

  • BearBear Posts: 18,953 ✭✭✭
    Zinny, first of all I didnt use my titanium credit card.

    I am going to pay Mike Prinz in jelly donuts.image
    There once was a place called
    Camelotimage
  • StuartStuart Posts: 9,761 ✭✭✭✭✭
    Zenny: I am looking forward to meeting Mark Feld one day. We have so far only traded e-mails and PM's but he has obviously earned the respect of others on this forum by maintaining long-term honest relationships with collectors image , and is not trying to screw them on a transactional basis like some of the predatory dealers out there. image

    Remember, as sellers always we have the option to refuse low-ball offers if we want to. Stick to your principles and don't let them take advantage of you... image

    Also, other forum members will usually make fair market value offers for coins on the BS&T forum ... image

    Stuart

    Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal

    "Luck is what happens when Preparation meets Opportunity"
  • puffpuff Posts: 1,475
    zenny....... I think you would be hard pressed to find "any" dealer, bar none, that would be more fair than coinguy1/Pinnacle Rarities, buying or selling coins! IMHO.image
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>I am looking forward to meeting Mark Feld one day. >>



    Me too. Pinnacle actually had a booth at last year's annual PNNA, but he wasn't there. Must have heard I was coming and ran for it. image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • ealandgealandg Posts: 705
    I sure wish there were ANY dealer at the show who would take Mastercard/Visa. I saw some items I would have been willing to make a long-term commitment to, but the dealers selling these items would not take plastic... I know there are internet connections available, so what gives?
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Zenny, I recently experienced a #2 dealer also who I felt was working me over the years. For the extra 5% he beat me down on something very nice (it wasn't until they placed it on the web that it became a whole lot nicer) that he later sold for a quick and 23% profit. That extra 5% has cost them any future business. Just no need to be that darn greedy. Enough is enough.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BarryBarry Posts: 10,100 ✭✭✭


    << <i>I sure wish there were ANY dealer at the show who would take Mastercard/Visa. I saw some items I would have been willing to make a long-term commitment to, but the dealers selling these items would not take plastic... I know there are internet connections available, so what gives? >>


    Many coin dealers still live in another century. Hard to believe there are so many dealers that still mail their inventory lists every month or two. This topic has come up before, and I'll leave it to the dealers to make their own excuses, but go to other shows (computer, etc.) and EVERY dealer is set up to take credit cards.
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    ...
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>not pickin on ya but........"discrete" means :consisting of distinct or unconnected elements >>



    Which is precisely the context in which he used it.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • LakesammmanLakesammman Posts: 17,376 ✭✭✭✭✭
    There are plenty of dealers that take plastic....for an additional 3%.
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • paigowjohnnypaigowjohnny Posts: 4,257 ✭
    That dang Mark Feld...lives here in San Diego and hasn't yet invited me out for lunch image
  • DennisHDennisH Posts: 13,990 ✭✭✭✭✭
    Zenny:

    I appreciated reading your take on Long Beach... and especially your comments on the two dealers. image
    When in doubt, don't.
  • BearBear Posts: 18,953 ✭✭✭
    You know how it goes. Saint Feldolini takes you out to lunch and then

    he has to take us all out for a meal.
    There once was a place called
    Camelotimage
  • CarlWohlforthCarlWohlforth Posts: 11,074 ✭
    We want smaller than %20 margins and we also want to pay by credit card which eats up another %2-%3. We want to buy at less than greysheet but we want to sell for more. We must be hard to please image
    Carl's Coins website w/ links to Carl's auctions
  • wallstreetmanwallstreetman Posts: 2,938 ✭
    I too said hi to Mark. I was looking for you Bear, Mark said you came by earlier.
    You can fool man but you can't fool God! He knows why you do what you do!
  • agentjim007agentjim007 Posts: 6,256 ✭
    Zenny's report is accurate for most of us. We occasionally deal with someone that makes it all worth while but most of the time were fighting a losing battle.
  • DHeathDHeath Posts: 8,472 ✭✭✭
    Ken,

    Nice report. Sometimes my real impression of a dealer isn't formed until I try to sell them something.image When they sell something I've sold them, I hope they make enough to retire, but I also hope they'll be smart enough not to embarrass me for selling it to them short.
    Developing theory is what we are meant to do as academic researchers
    and it sets us apart from practitioners and consultants. Gregor
  • ColorfulcoinsColorfulcoins Posts: 3,364 ✭✭✭
    I was there Wednesday, quickly at lunch on Friday, and back for several hours on Saturday. Outside of a few pieces that were sent to the show with a dealer for me to specifically see, I found nothing of interest (to buy that is, but plenty to see). Given I like toned coins, they were sure in short supply.......but saw lots of white blazers!
    Craig
    If I had it my way, stupidity would be painful!
  • BearBear Posts: 18,953 ✭✭✭
    WSM, I was really a whirling dervish at the show. I had an extensive want list and

    I saw several opportunities to purchase coins with the "LOOK". so in the words

    of Julius Ceaser,"Vini ,Vicci, Spendee".
    There once was a place called
    Camelotimage
  • BarryBarry Posts: 10,100 ✭✭✭


    << <i>There are plenty of dealers that take plastic....for an additional 3%. >>


    If so, it's in violation of their Merchant Agreement.
  • BearBear Posts: 18,953 ✭✭✭
    That is technically correct. A vendor is prohibited from charging a service

    fee for accepting a credit card. However in order to make a purchase when you are out of cash

    and checks , it is some times done. Another factor is where a dealer will give a lesser cut in price

    if they have to take a credit card with its inherebt service charge to vendor.
    There once was a place called
    Camelotimage
  • DMWJRDMWJR Posts: 6,005 ✭✭✭✭✭


    << <i>Ken,

    Nice report. Sometimes my real impression of a dealer isn't formed until I try to sell them something.image When they sell something I've sold them, I hope they make enough to retire, but I also hope they'll be smart enough not to embarrass me for selling it to them short. >>



    My test is a little different -- how much will they pay to buy back a coin that they previously sold you! I understand that they have to make a buck to stay in business, and that there are market fluctuations, but this has been a good indicator to me of how customers are treated.
    Doug
  • ConstellatioCollectorConstellatioCollector Posts: 1,909
    I attended Thursday and it was very busy!
    Constellatio Collector sevenoften@hotmail.com
    ---------------------------------
    "No Good Deed Goes Unpunished!"
    "If it don't make $"
    "It don't make cents""
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    Russ, you're right. I read the paragraph wrong.

    Have edited it out and thanks for reminder.

    And actually it belonged in a PM .......... if at all.

    zenny........my apologies.

    image
  • dpooledpoole Posts: 5,940 ✭✭✭✭✭
    Thanks for the report.

    I wonder why a major show like that was sparsely attended Fri adn Sat--are people getting the word that Dealers bail out after they're done buying, and so Thursday is the peak day for bourse activity? Also, wonder why the PCGS luncheaon was sparsely attended. At Balto, it was pretty good.


    Here's a warning parable for coin collectors...



  • TrimeTrime Posts: 1,863 ✭✭✭
    It is nice to hear praise for "goodguy Coinguy" Mark Feld.
    Mark is even better than the rep he has developed on this forum.
    He and the other members of his firm are always classy in their personal and professional interfaces with their clients and friends.
    Unfortunately, there are too many people in the business that share different ethics. Too bad!
    While Pinnacles is not unique they certainly represent the best.
    Trime

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