Is it really a good idea to give a dealer your want list?

ColonialCoinUnion

I tend to think 'no', particularly if you're the kind of collector who keeps taking sick days from work to attend coin auctions, likes to surf the internet and enjoys the thrill of the coin-hunt.

Sure, your want-list-toting dealer may access a good coin that you want, but odds are that you'll end up paying through the proboscis for it if they have to pry it from some reluctant seller's hand. Or God forbid the coin turns up at auction and you find yourself bidding against said dealer.

However if you prefer to never go to shows, or auctions, and entrust the whole 'collecting thing' to some dealer, I guess giving him or her your want list is mandatory, right?

coinguy1

<< <i>Or God forbid the coin turns up at auction and you find yourself bidding against said dealer. >>

If you have good/the proper communication with your dealer, the scenario outlined above will not occur.

In reply to the question raised in your post - it can be a good idea, under certain circumstances and IF handled properly by both parties.

LindeDad

Depends on how much you trust the dealer. Several I've been lucky enouph to meet here. Have sold coins to me for less than what they could of got on eBay. Oh and by the way. I never tell everthing to everone.

lava

I don't think it is a good idea if the dealer is going to pull a coin from a source to which I would otherwise have access. I don't feel I need a dealer to bid for me at auction.

On the bourse floor at remote locations is a different story, but I don't see any dealers advertising those services. I wouldn't buy sight unseen, and I don't think a dealer wants to carry a digital camera on the bourse floor and email pictures. Does anyone ever do that?

MrEureka

I would never give my want list to more than one dealer, so I'd choose that dealer very carefully. And it goes without saying that I wouldn't choose someone that would compete against me when the coin shows up at public auction.

BTW, for those that find it odd that a dealer would consider giving another dealer his want list, understand that I collect certain world coins in which I do not actively deal. My want list is limited to those collections. Since I'm not in the thick of the action for these coins, I really can use some help from a specialist.

Veep

I never had a dealer actually produce a coin from my want list. I gave up trying years ago. Today, I go it alone. It might mean more work, but at least I know that some progress is being attempted.

TahoeDale

I may be in the minority, but giving the right dealer(s) your want list can be very productive. And a lot more information can be very useful.

Like, PCGS only, original toned coins, grade range, etc. Once a dealer knows your likes and dislikes, it becomes easier to communicate and find the ones you are missing.

But set some priorities, especially price. After a dealer sends you over priced coins, on the basis that you NEED them, cancel the relationship. Or get it clear that you are a market price buyer, not an ego-driven idiot with unlimited funds.

fcloud

A dealer asked for my set and after about a year of being hounded everytime I went to his shop, I gave hime a list. He took it and tossed it on the back counter where stuff was piled about 18" deep! Needless to say that is the last time I will ever give a dealer a list! At the very least he should have made it look like he was interested. Now there is a list somewhere with my home phone number on it, and I have to worry about it falling into the wrong hands.

I learned my lesson!

originalisbest

If the dealer's a good guy, it can be very productive. I've gotten some coins that were "just right" from Jon at RCONH in this way, pieces I would not probably have found in my own (relatively) limited excursions - though hope springs eternal!

TahoeDale

Ditto that reply re Jon at RCNH. He really tries and the prices are market. not MOON.

mrearlygold

<< <i>I would never give my want list to more than one dealer, so I'd choose that dealer very carefully. And it goes without saying that I wouldn't choose someone that would compete against me when the coin showed up at public auction.

BTW, for those that find it odd that a dealer would consider giving another dealer his want list, understand that I collect certain world coins in which I do not actively deal. My want list is limited to those collections. Since I'm not in the thick of the action for these coins, I really can use some help from a specialist. >>





Agreed. One of the problems with some coin buyers is they broadcast what they're looking for to more than one dealer and then wonder why in the world why the coin was priced so high when it was finally offered to them.

I was walking the floor one time and saw a guy at stacks giving out copies of want lists to quite a few dealers once. That was a long time ago but draw your own conclusions.

Find one or two pro's who know what they're doing and be smart about it. Keeping a low profile will save your butt.

Tom