Purpose of "Price on Request"

dan1ecu

Hi, Everybody -

I occasionally see a coin listed on a website without a price. Right now, there's a 1907 $20 PCGC PR68 listed on Heritage's website with "price on request" under it.

Why would a coin be listed without a price? Is it so as not to scare away most people from looking at the very expensive coins?

Dan

kieferscoins

They want you to call and ask about the coin and there is a better chance of selling you something if the customer calls.

Cameron Kiefer

joeyuk

I see the same with photo on request. Then they e-mail it to you.

PutTogether

I do sales for a living. When someone sees a price, they have all the info they need, then they can feel free to shop around. (not that a PR68 07 double eagle is something readily available) When someone begins price shopping, it becomes more about the deal, and less about value. By having you call, they get a chance to speak with you, about the coin, the value (collection wise, not nescisarily just dollarwise) of the coin, and it becomes an added experience. It increases their chance of selling it for the most possible money, and it gives someone spending that kind of cash on a coin a more personal touch.

K6AZ

I can't stand coin dealers that use the POR strategy, and will not deal with them. They know what the coin cost them, and what they need for the coin. In my opinion, the POR is a way for them to get you on the phone so they can fluff the coin and get more than their bottom line. There are many good dealers who do not use this high pressure gimmick, and they get my business.

MrEureka

In an ad, "P.O.R." looks and sounds better than "We're asking $2 million but that price is very, very negotiable so just call us and we'll talk, OK?"

RYK

I detest "photos on request". At least with "price on request", you know or can estimate what the ballpark is. Usually this is done for ultra-expensive coins that I am not in the running for. Photos/scans are far from perfect, but an attractive picture can help sell a coin. I do not understand why an internet seller would not provide a picture of the coin on his/her website. (Unless, of course, he/she does not possess the coin--but that's another story...)

mrearlygold

POR really means "what's YOUR best offer" in many cases.

Rgrds
TP

goose3

Price on Request

translation for me........


skip my complete ad/website/etc. no matter IF you are interested in anything here at all and go find it listed it somewhere else by someone with balls enough to post a price.

stman

<< <i>Price on Request

translation for me........


skip my complete ad/website/etc. no matter IF you are interested in anything here at all and go find it listed it somewhere else by someone with balls enough to post a price. >>



LMAO..... How bout on our own BST board Goose, The "Private" auctions that say "For Sale in the heading, than tell you to make an offer by email?" That's perfectly OK isn't it?

BAJJERFAN

They might also use that if the price is volatile or linked to something like the price of precious metals.

MrEureka

skip my complete ad/website/etc. no matter IF you are interested in anything here at all and go find it listed it somewhere else by someone with balls enough to post a price.

Goose - I don't really understand why a P.O.R. bothers you. Can you explain it to us?

keets

hey stman

you are a freakin' genuis for stating an annoyance of mine, and something i believe i may have even done in the past-----listing an item on the BST and requiring the member PM for a price. the strategy is always the same, it initiates contact.

c'mon members, if you have an item for sale at the BST, just put your best price with it and if it doesn't sell, get real and change the price.

al h.

CopperDude

If I need to ask I can't aford it so I don't check on it. Possible lost sale for me anyway.

stman

<< <i>listing an item on the BST and requiring the member PM for a price. the strategy is always the same, it initiates contact. >>



Yeah? Or.... it says 'I don't want to bury myself stating a price, perhaps some FOOL will offer more."

wondercoin

I personally use "POR" on my websites for those coins where prices literally change weekly, if not daily. My websites are maintained by a good friend and ex-neighbor, who unfortunately has been very ill for the past couple years and can only do so much as far as adjusting prices on hundreds of coins. I have had numerous opportunities to bring in "younger blood" - I chose not to. But, more importantly.....

I have found collectors are often even more frustrated if they are told they can not have a coin at the website listed price. Yet, the reality is prices can change dramatically "overnight" where it comes to many modern coins and modern series (same is true for classics as well, such as Lincoln cents). The "POR" can result in a fairer quote, both ways, on volatile coins. For example, the last time I bought an MS67 "Millennium" Sac on ebay late last year, it cost me around $55. Around 60 days later they are now trading closer to $225-$250 (2 on ebay right now at that level). I would have needed to probably change the website price a dozen times in 60 days to reflect the market on that coin - easier to mark it "POR". On the other hand, I got in a group of 2001(d) Sacs last year in MS68 that had a couple recent sales on ebay at that time around $2,000-$2,500 (I think one of the sales was just a couple days old). Due to the increased pop as a result of the batch I got in, I priced my offerings of these coins below $1,000/coin despite those very current sales of $2,000+/coin. Another example of a coin which is easier to reflect on the website at "POR" and quote a daily accurate price on to anyone asking about the coin. And, there was at least -1- customer of my website in the market for that 2001(d) Sac at the $2,000+/coin level at that time who asked me to sell him one right after the small batch came in and got the coin for roughly less than 50% of what he had planned to pay that day for one as a result of the "POR".

I guess my simple point is dealers can try to utilize the POR in a fair manner as well as perhaps the unfair circumstances some have pointed out here.

Wondercoin

northcoin

POR - I always thought that meant "Pass Over Rightaway"

jdimmick

Being that you usually only see it on High dollar coins, I always took it to mean that the firm wanted to make sure they are talking with a serious intrested buyer, before quoting price. Not someone just asking for price, who has no intention of buying.

jim

relayer

It means "If we published our asking price, no one would buy it. But if you make an inquiry at least we have a chance to sell it"

oreville

Personally I do find the use of POR and pictures on request a bit annoying because that means more time required to get info on the coin. If used very sparingly that is understandable.

I also do understand pictures on request is best for less expensive coins since time is of the essence for the seller as well.

Robgetty

I prefer seeing the price, but I understand Mitch's philosophy.

Conder101

On some high visibliy, expensive, easily identifiable coins a dealer will list it as POR because a lot of collectors don't want publicly known what they paid for such an item.

K6AZ

Wondercoin, I hate to be blunt, but that is a bunch of horse pucky. You buy a coin as a dealer, you know what you paid for it, you mark it up to cover your expenses and profit, and list it at the price you need. The professional dealers I deal with always list their price. Come on, coins are not bullion where the price changes every day.

wondercoin

"Come on, coins are not bullion where the price changes every day."

I agreed to buy a modern coin from a board member last year for $3,000 sight-seen and the next day it was available for around $1,250-$1,500 after the pop added some coins that afternoon and they became available on the market the next day. When the coin arrived registered mail a week later from the board member, I honored the deal and accepted the coin at $3,000 (as the quality was acceptable). I won't waste time with numerous examples of prices doubling in the same week or month, but rest assure it happens all the time the other way as well (this isn't a discussion of the risks and rewards of the modern market). And, again, it happens with "classic" coins as well. I know that last month, an earlier date Lincoln cent was priced as a pop 2 one day at around $25,000 (I wanted to buy it for a customer, but not at that level - however, the coin would have likely sold elsewhere around that figure). The coin became pop 5 or 6 the next day and the freshly slabbed coins were priced under $10,000/coin. The dealer with the former pop 2/0 Lincoln readjusted the price to under $10,000 and I bought the coin for my customer. Another example of a coin I would have personally placed on my website as "POR" had I not had a customer for it, as the price of such coins often shifts significantly, especially after a major auction occurs and the market absorbs the information of the sale.

I am not asking anyone to agree with my personal decision to employ POR pricing in certain cases. I was just offering a comment to the discussion. But, let's sum it up this way - it is clear from this discussion that many collectors avoid "POR" pricing, while still others won't even deal with a dealer that uses them. On the other hand, this is a free country and a dealer can list his coins that way assuming the consequences of his decision to do so, including the possibility that certain customers might elect to not do business with the dealer for that reason.

Wondercoin

K6AZ

Well I wouldn't know about moderns, I don't deal with anything made in the last half century. To talk about any modern coin being worth $3k, or even $1k, is ridiculous. I look at some of the prices for 'pop top' coins made in the last twenty years and I just laugh to myself. Yes, they are hard to get, you have to pop ten or twenty mint sets to get one, but look at the mint set production numbers. To me, it is like a timebomb waiting to go off on you if you pay stupid money for a modern.

haletj

My local dealer has the price listed on the front of the flip for most of his coins, but for expensive ones he has the price on the back of the flip, so you have to ask him the price or ask him to get the coin from the display so you can see it. Very interesting.

wondercoin

"Yes, they are hard to get, you have to pop ten or twenty mint sets to get one, but look at the mint set production numbers"

Or, in the case of some others tougher clad coins, perhaps 1,500 or more mint sets to stand a decent shot at "making" a tough Mint State modern. Case in point- nearly 16 years of PCGS grading and no one has ever been able to slab a 1992(p) clad Wash quarter in PCGS-MS67 (indeed the pop in MS66 is among the lowest in the clad series as well). A dealer just told me about his effort in pouring through around (1,500) 1992 mint sets (which I understand took a month or so of time) to pull (3) potential clad quarters that have a chance to grade MS67 (probably one or two at best, if any). The coins are in at PCGS so in a week or so, we will see if the dealer's effort yielded a pop 1 coin. Now, bear in mind, I am aware of the mint set production numbers, but, I can assure you it is not an easy task to locate 1,500 fresh, original 1992 mint sets. These sets were never sealed by the mint, and you really have no way of even knowing if you are buying picked through sets. Moreover, I have heard of maybe a dozen or two original bankwrapped rolls of 1992(p) being available in years.

Well, sorry for getting off the subject of this thread - it was just the comment of the ten or twenty mint sets. I wouldn't dream of trying to convince anyone that certain MS clad quarters in high grade are very scarce coins. It will probably require the printing of one or more books on the subject, before most collectors would even get interested in the series.

Goodnight

Wondercoin

K6AZ

Well, even if your dealer friend went through 1500 sets, that leaves how many out there? 2.9 million plus? And how many original rolls that might be sitting in vaults or hoarders closets? My point is that sinking money into any modern (especially one minted for circulation 12 years ago) is asking for trouble. If this is the part of the coin business you pursue, more luck to you. But as I said earlier, speculating in the "rarity" of a pop top modern is like sitting on a time bomb considering the mintages, and considering the amount of mint sets out there.

dorkkarl

"price on request" is used by dealer-wannabe's, often times png members, who have the coin on consignment. they get your highest offer, then ask the consignor if he's willing to accept it. THEN you get to buy the coin.

K S

MrEureka

"price on request" is used by dealer-wannabe's, often times png members, who have the coin on consignment. they get your highest offer, then ask the consignor if he's willing to accept it. THEN you get to buy the coin.

Where do you come up with this nonsense?

dorkkarl

i've actually called about such coins for whom I KNEW the consignor.

K S

Shamika

It means if you have to ask, you can't afford it. Still, I hate POR.

oreville

As long as the number of POR prices are not more than 10% of the total items for sale then that is acceptable. But if no pics available then that increases the workload of the buyer.

We don't like doing things the old way......looking in CW, NN The Numismatist, writing letters, making phone calls, and not only trying to find out price but also having to ask what the coin looks like. Too much effort.

It is the effort thing.

I think we are getting spoiled.

This internet has certainly changed things.