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Would a dealer tell you the truth...

BaysideBayside Posts: 44
in U.S. Coin Forum
if you asked his opinion if your coin should be resubmitted for an upgrade?

I don't have overwhelming confidence in my ability to grade. So I showed my local dealer a coin that I thought had the possibility of getting an upgrade. He looked at it and said "No Way."

But now I'm thinking, he would benefit if I later sold it to him and he resubmitted it and got the upgrade.

Any comments would be appreciated.

Thanks

Bayside

Comments

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    jbstevenjbsteven Posts: 6,178 ✭
    I would give you my opinion if you asked.
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    RKKayRKKay Posts: 3,015 ✭✭✭
    Many dealers on the boards, including jbsteven, coinguy1, myself and others would give an honest opinion, whether or not it meant that dealer wouldn't make an extra buck. Ethics are paramount to many of us.
    Rick Kay
    Specializing in 1854 and 1855 large FE patterns

    <
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    darktonedarktone Posts: 8,437 ✭✭✭
    so would I if it was a coin I could grade. mikeimage
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    MrEurekaMrEureka Posts: 24,067 ✭✭✭✭✭
    He looked at it and said "No Way."

    He's lying. There's always a chance. Always! image
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
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    StuartStuart Posts: 9,761 ✭✭✭✭✭
    Bayside: Sounds to me that you do not fully trust that specific dealer -- my advice is find a dealer that you can trust, who adds value for you, and purchase regaularly from him/her if they help you find quality coins...

    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"
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    mdwoodsmdwoods Posts: 5,538 ✭✭✭
    Ask a millwright Bayside, they know everything.
    National Register Of Big Trees

    We'll use our hands and hearts and if we must we'll use our heads.
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    RussRuss Posts: 48,515 ✭✭✭
    I think that most dealers would give a truthful opinion. But, I also think that most dealers aren't all that good at grading in the first place.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
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    MacCoinMacCoin Posts: 2,545 ✭✭
    don't trust these dealer they are out to get you. but for real why won't he tell you the trurth I'm sure he wants your business more than he wants your coin. the only thing is he may suck at grading.
    image


    I hate it when you see my post before I can edit the spelling.

    Always looking for nice type coins

    my local dealer
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    khaysekhayse Posts: 1,336 ✭
    >He's lying. There's always a chance. Always!
    It's funny cuz it's true. image

    If I really thought the dealer was dead wrong about the possibility of an upgrade I would assume
    he is incompetent before I thought he was malicious.

    -KHayse
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    StuartStuart Posts: 9,761 ✭✭✭✭✭
    Bayside: if you've still got the coin, post a pic of it on this forum and you'll get some free opinions very quickly !! 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"
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    foodudefoodude Posts: 3,554 ✭✭✭
    I too would give my honest opinion. While all dealers need to be able to grade to some extent, not all are good at it, partucularlywith all series (recall a few months ago MadMarty bought a '61 or '62 Franklin for $7 from a local dealer, and it came back 66FBL- pop 1 or 2- a five figure coin; I wouldn't have a lot of confidence in that dealer's ability to grade franklins). Therefore, even if some try to give you the truth, they might not be providing good advice.

    After typing the above, I read some of the other responses, and I see several people have already commented on the grading abilities of some dealers.

    Greg Allen Coins, LLC Show Schedule: https://forums.collectors.com/discussion/573044/our-show-schedule-updated-10-2-16 Authorized dealer for NGC, PCGS, CAC, and QA. Member of PNG, RTT (Founding Platinum Member), FUN, MSNS, and NCBA (formerly ICTA); Life Member of ANA and CSNS. NCBA Board member. "GA3" on CCE.
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    jbstevenjbsteven Posts: 6,178 ✭
    I agree also that most dealers can grade a few series fairly well (except Marty he seems to get ms65 and AU58's mixed up).

    Show me a few Morgans or Mercury dimes and I could pretty much nail the grade.
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    rainbowroosierainbowroosie Posts: 4,874 ✭✭✭✭
    Most dealers who deal with you regularly will tell you the truth...problem is...just because someone is a dealer, does not mean he/she can grade!imageimage
    "You keep your 1804 dollar and 1822 half eagle -- give me rainbow roosies in MS68."
    rainbowroosie April 1, 2003
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    RussRuss Posts: 48,515 ✭✭✭


    << <i>Show me a few Morgans or Mercury dimes and I could pretty much nail the grade. >>



    Okay, what's this one grade?

    image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
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    291fifth291fifth Posts: 24,067 ✭✭✭✭✭
    I think most dealers would answer your question truthfully.
    All glory is fleeting.
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    StuartStuart Posts: 9,761 ✭✭✭✭✭
    MS-63 w/ flatly struck eagle's breast -- nicely toned... 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"
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    wallstreetmanwallstreetman Posts: 2,938 ✭
    AU- Net EF, unless it really does'nt look like the pic!
    You can fool man but you can't fool God! He knows why you do what you do!
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    wallstreetmanwallstreetman Posts: 2,938 ✭
    BTW, if he tells you the truth, he doesnt want to buy it!
    You can fool man but you can't fool God! He knows why you do what you do!
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    EVillageProwlerEVillageProwler Posts: 5,859 ✭✭✭✭✭
    BTW, if he tells you the truth, he doesnt want to buy it!

    Of the more ethical dealers out there, I don't think this is true. I think they would tell you that there is a fair chance, but still offer you some modest premium for the coin simply because the odds of a sure upgrade is still much less than 100%. The dealers who play this kind of game on a regular basis know that it's about percentages and they can't bet the bank on a single coin getting upgraded!

    A few years ago I was selling a Capped Bust Half that I thought was very high-end for the grade. The dealer admitted that it's high-end, but explained to me that he was unable to offer me a huge premium because it's just not that easy to score -- even with very PQ specimens! Basically, he said that he was willing to buy my coin and admitted that he felt it was PQ. And, he left me the option of going elsewhere if I didn't like his offer.

    EVP

    How does one get a hater to stop hating?

    I can be reached at evillageprowler@gmail.com

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    Dog97Dog97 Posts: 7,875 ✭✭✭
    If he says no way & and tells you to get it out of his shop then it's junk.
    If he says no way but expresses a lot of interest in buying it then it's undergraded.
    Change that we can believe in is that change which is 90% silver.

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