What you should expect from your dealer
Aethelred
Posts: 9,288 ✭✭✭
In a previous thread I gave some tips about ways to build a better relationship with your local coin dealer. As a follow-up I think it is only fair to list some things you should expect in return for your sterling behavior.
1. All customers should be treated with respect without regard to gender, age, race, style of dress or economic status.
2. The same pricing standards should be used for all customers. Good customers might get a "better deal," but no customer should pay more or be offered less just because they don't know any better!
3. Your dealer should tell you the truth 100% of the time, even if it is not what you want to hear!
4. You dealer should seem happy to see you when you walk in and say "thank you" and smile after every visit.
5. Your dealer should never say "I'll do......." unless he knows he can!
6. If a coin grades MS-63 when your dealer buys it, he better sell it as an MS-63!
7. Your dealer should NEVER give you investment advice, we can't because we have a conflict of interest!
8. Look for a dealer who takes extra time with young collectors. We had a boy aged about 10 who was interested in spending his birthday money on a Morgan Dollar. I spent about 30 min. with him explaining what to look for when buying Morgans, what a proof-like should look like, why nice looking toning is not a bad thing and so on while other customers who I had a pretty good idea were going to buy more than the $32 this boy spent waited their turn. To most of us $32 is a very small amount of money, but to this young man I am sure it was a huge investment and I wanted to be sure he got a coin he would be happy with for years to come.
9. Your dealer should not try to steer your buying.
10. Your dealer should work very hard to say current and have his thumb on the pulse of the market. You should expect logical answers to your questions. You should also expect your dealer to be honest and say "I don't know" if he can't answer your question.
1. All customers should be treated with respect without regard to gender, age, race, style of dress or economic status.
2. The same pricing standards should be used for all customers. Good customers might get a "better deal," but no customer should pay more or be offered less just because they don't know any better!
3. Your dealer should tell you the truth 100% of the time, even if it is not what you want to hear!
4. You dealer should seem happy to see you when you walk in and say "thank you" and smile after every visit.
5. Your dealer should never say "I'll do......." unless he knows he can!
6. If a coin grades MS-63 when your dealer buys it, he better sell it as an MS-63!
7. Your dealer should NEVER give you investment advice, we can't because we have a conflict of interest!
8. Look for a dealer who takes extra time with young collectors. We had a boy aged about 10 who was interested in spending his birthday money on a Morgan Dollar. I spent about 30 min. with him explaining what to look for when buying Morgans, what a proof-like should look like, why nice looking toning is not a bad thing and so on while other customers who I had a pretty good idea were going to buy more than the $32 this boy spent waited their turn. To most of us $32 is a very small amount of money, but to this young man I am sure it was a huge investment and I wanted to be sure he got a coin he would be happy with for years to come.
9. Your dealer should not try to steer your buying.
10. Your dealer should work very hard to say current and have his thumb on the pulse of the market. You should expect logical answers to your questions. You should also expect your dealer to be honest and say "I don't know" if he can't answer your question.
If you are in the Western North Carolina area, please consider visiting our coin shop:
WNC Coins, LLC
1987-C Hendersonville Road
Asheville, NC 28803
wnccoins.com
WNC Coins, LLC
1987-C Hendersonville Road
Asheville, NC 28803
wnccoins.com
0
Comments
<< <i>7. Your dealer should NEVER give you investment advice, we can't because we have a conflict of interest! >>
I'll take exception to that one. My response is ALWAYS: "Don't invest in coins."
https://www.civitasgalleries.com
New coins listed monthly!
Josh Moran
CIVITAS Galleries, Ltd.
<< <i>
<< <i>7. Your dealer should NEVER give you investment advice, we can't because we have a conflict of interest! >>
I'll take exception to that one. My response is ALWAYS: "Don't invest in coins."
WNC Coins, LLC
1987-C Hendersonville Road
Asheville, NC 28803
wnccoins.com
Just plain not true. If someone tells me that he wants to invest 10K in coins and asks me to make recommendations, and if I'm working for a flat fee or fixed percentage on purchases, then OF COURSE I can and should give unbiased investment advise.
Do I pursue "investor business"? No.
Do I like that end of the business? Not especially.
But if I can honestly and capably do the job I'm asked to do, I'll do it.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Having said that it is only my opinion and you know what they say about opinions.
WNC Coins, LLC
1987-C Hendersonville Road
Asheville, NC 28803
wnccoins.com
...on the theory that whatever is for sale is HOT?
Adolf Hitler
In practice, what's the difference?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.