What is your thoughts

USSilver

here's the situation: you have two certified coins that you would like to sell that are nice for the assigned grade, you fine a local dealer that is an authorized dealer for that certification service,you already know that the greysheet bid on one of the coins is $48.00 and $62.00 for the other one,yet the dealer offers you $50.00 for both coins.

what is your thoughts on this situation ?
should this dealer be an authorized dealer ?

Well needless to say I wont be setting foot in his shop anytime soon!
Thanks,
USSilver

homerunhall

One of the things I like about the coin business is the free market structure. I wouldn't consider a $50 offer on $110 "bid" coins dishonest...I'd just consider it pretty cheap. in general, dealers will usually pay 80% to 90% of bid for coins they don't need and bid or slightly more for coins they do need. So like I said, the offer seems cheap.

Then again, sometimes the published bids aren't that up-to-date. I'm not trying to defend the dealer, just pointing out that there may have been other factors at work. And the nice thing about certified coins is you can always shop around for a better offer.

Thanks,

David