Would you buy from a dealer you've never heard of?

ColonialCoinUnion

Heres the scenario:

You see an ad in Coinworld. A dealer that you have never heard of (and about whom you cannot seem to find any information from any of your usual contacts) lists some nice PCGS coins that you want.

He seems decent enough and you have no reason, other than the fact that you don't know him, to suspect that he is anything other than honest.

Do you hesitate at all to buy something from him?

Aside from normal precautions such as not sending the guy cash first, who you treat this new dealer any differently than you would, say, Heritage? Or ANR? Or any other large reputable firm?

greghansen

Take the leap of faith. First time for everything. If he/she has several coins your interested in, buy a single one first. See what happens.

Russ

I think common sense would dictate that one would treat a brand new dealer differently than an established name. That would apply not just to coins but to any transaction in any business. There have been an awful lot of scams that have an air of legitimacy bought with expensive advertising in national publications.

Russ, NCNE

Shamika

God I hate to admit this, but the fact that he advertises in Coinworld makes me hesitate already.

Otherwise, I don't't have issues with trying a new dealer though I always prefer references.

Bochiman

MC/VISA.
Then, I would try the dealer if I wanted the coins.

ziggy29

My answer is an unqualified "maybe." If I did, though, I would:

* Make sure to note their written return policy and save the copy of the ad where it's in writing;
* Pay by credit card so I could potentially dispute the charges if need be;

If I wanted to return the coin, I'd send it back with delivery confirmation so I'd know they got the coin (and could dispute the charge if they balked at issuing a credit). If I got what I was hoping for at a good price, a new dealer relationship is born. And I'd not buy anything relatively expensive (for my purposes, maybe over $100 or so) unless I was satisfied with a previous purchase or unless I heard opinions I trusted down the road. And finally, if their return policy sucked, they're not getting my business to start with. They need to give me the confidence I need to give them a try, and that means a decent return policy, no ridiculously short window, no ridiculous restocking fees, et cetera.

mgoodm3

buy a few small things first. Get an idea how they are before making the big plunge.

Goober

I wouldn't jump that soon, I have and I always seem to get burned. I came here, took a backseat row, and watched, listened, and then I purchased from those I knew had a good track record.

mintluster

Yes I have done it many times.

How else can you build a relationship with a dealer?

Use your MC/VISA though, no cashier's checks or money orders.

With my credit cards if the person cheats me it will be automatically wiped off my statement while the cc company investigates.

I am not held liable.

dorkkarl

<< <i>Do you hesitate at all to buy something from him? >>

hesitate? sure. anything that threatens to separate me from my hard-earned $$$ makes me hesitate!

the newness of the dealer is'nt my overriding factor though, nor does the "pcgs" part matter to me. i would wanna know whether i'm buying the coins sight-seen or not, ie. what's the return policy.

K S

dorkkarl

oh, & mintluster made some good points too.

K S

cdwegner

<< <i>Heres the scenario:

You see an ad in Coinworld. A dealer that you have never heard of (and about whom you cannot seem to find any information from any of your usual contacts) lists some nice PCGS coins that you want.

He seems decent enough and you have no reason, other than the fact that you don't know him, to suspect that he is anything other than honest.

Do you hesitate at all to buy something from him?

Aside from normal precautions such as not sending the guy cash first, who you treat this new dealer any differently than you would, say, Heritage? Or ANR? Or any other large reputable firm? >>



Don't bother. I already bought the coins you wanted.

dimples

exactly what mintluster said and make sure of the return policy.

bearcave

<< <i>Would you buy from a dealer you've never heard of? >>




UMMMMM, I do that all the time on ebay.

Barry

Only if:
1. I can pay by credit card.
2. I can get references from another dealer I know or people I know, know.

It's no different than finding a painter. Do your homework and be wary.

UncleWiggly

What's the dealer's name? Maybe some of us have already done business with them.


Jerry

ColonialCoinUnion

<< <i>What's the dealer's name? Maybe some of us have already done business with them.


Jerry >>



My question was totally hypothetical -

I'm wondering how an ad I place might be viewed by potential coin buyers.

Thanks to those who responded.

ziggy29

<< <i>My question was totally hypothetical >>

Sneaky bastid.

Lakesammman

Buy the coin, not the dealer.

coinguy89

If it was less than $15 I wouldn't really even check anything out if this was a big deal coin, for me big deal is $40+ then I would defeintly hesitate and gather some info before making any buys. I think I would never purchase anything over $100 without seeing it first handk, atleast at my age now.