<<<let's say dealer-dave buys 10 1926-o dcam morgan dollars because they're rare. he sell's em > to ryk.>>> If I were dealer dave I sure as *L* wouldn't want those back.
Change that we can believe in is that change which is 90% silver.
I still think if you remove any coin from its holder and the value drops drastically.... there is something drastically wrong.
That is an excellent rule of thumb. Another way to state it is that if the coin crosses to an ANACS holder and drops in value, there is something seriously wrong.
"This thread is aimed at dealers who recommend (wink-wink) coins and sell coins but will not even make an offer on these coins, let alone buy these coins back later (say months later)."
This is exactly why I only deal in coins I want back and why buyers should be careful with what they are buying and who they are buying from.
"Excuse me? R & I Coins has THE LONGEST RETURN NO QUESTIONS ASKED return policy, 15 days IS MORE THEN ENOUGH TIME to figure out if you like your new coin or not. We do not lie about our products and 99% of everyone who buys what they say they are going to buy are not only happy, but impressed with what they recieved. "
No offense but you sell high grade moderns, they all look nice so it takes about 3 seconds for someone to decide they like the coin. It sometimes takes more than 15 days for someone to find out that they have been royally screwed.
Since you are so open about your business practices tell us this:
What was the original retail price of the coin that was discounted $6,000?
Based on the title of this thread it seems that the problem here is that there was no offer at all, not one lower than the purchase price.
Based on the title of this thread it seems that the problem here is that there was no offer at all, not one lower than the purchase price.
IIRC, that is correct. They would not even return a phone call.
This is exactly why I only deal in coins I want back and why buyers should be careful with what they are buying and who they are buying from.
This is why I only buy expensive coins from dealers who buy them back enthusiastically at favorable terms. I have learned that my interests and tastes are fickle and evolving. There are enough dealers that do really want coins back when you are done with them, and these are the ones that get 95+% of my coin money.
If I really like a coin due to its premium quality, reasonable price, I would buy the coin regardless of who is selling it.
I sold coins to the same dealers I bought from many times in the past. When I sold my coins, I never mentioned that the coins were acquired from them in the first place. In most cases, I only received 2/3 (~66%) of what I paid for and I wasn't surprised a bit because dealers need to make a living on the spread.
The dealer I like to sell my coins to is Legend Numismatic. They always went along with all of my asking prices, above BID but below ASK. Anyhow, if I want to sell my coins in the future, Legend is the first place that come to my mind.
I would have no issues what-so-ever buying coins from a dealer who didn't want the coin back. I'm buying for own reasons. Whether or not I'll ever be able to sell my coins is irrelevent to me since it's just a hobby.
"IIRC, that is correct. They would not even return a phone call."
Let's see if the poster from that company returns- I'm guessing his boss told him to head for the hills-
I would really like to know what the retail was on the coin that they discounted $6,000.
Cmon now I know your reading these posts, come on back and answer our questions. You can because "He is not screwing anyone" so you have nothing to hide.
More than 10 years ago, I did buy a gold coin from a local dealer. 2 days later, I went to a coin show in my city and found him there. While going to this show, I brought my goid coin with me and decided to sell it back to the same dealer for a loss because I wanted to get a different date instead. When I approached the dealer with the coin, he was very reluctant at first to buy it back. After a few minutes, he took back the gold coin and handed me cash, basically giving me a full refund and I was very thankful for it. But somehow his son, who stood nearby, was very unhappy.
A few weeks later, I stopped by his shop to view and hopefully buy other coins and his son refused to deal with me. When I asked him why, he said that I tried to force his dad to buy back coin which I bought from somebody else. My eyes were wideopened, I then said: "the coin I sold back to your dad was the same coin I bought from him, didn't you see his handwriting on the 2x2 mylar?" The son stayed quiet for awhile and replied: "anyway, I don't like the way you deal with us." I smiled but completely understood.
From that day on, I've decided not to come to their shop. Looking back, may be I shouldn't kind of begging the old man to buy the coin back from me. But he was very nice though, I still respect him as of today and wish him well.
Comments
If I were dealer dave I sure as *L* wouldn't want those back.
Joe.
IE: the $39000 penny PCGS 70.... Would you pay this much without a holder??
This also goes for classics where the difference in one grade can be 20x greater or more.
That is an excellent rule of thumb. Another way to state it is that if the coin crosses to an ANACS holder and drops in value, there is something seriously wrong.
K S
This is exactly why I only deal in coins I want back and why buyers should be careful with what they are buying and who they are buying from.
No offense but you sell high grade moderns, they all look nice so it takes about 3 seconds for someone to decide they like the coin. It sometimes takes more than 15 days for someone to find out that they have been royally screwed.
Since you are so open about your business practices tell us this:
What was the original retail price of the coin that was discounted $6,000?
Based on the title of this thread it seems that the problem here is that there was no offer at all, not one lower than the purchase price.
IIRC, that is correct. They would not even return a phone call.
This is exactly why I only deal in coins I want back and why buyers should be careful with what they are buying and who they are buying from.
This is why I only buy expensive coins from dealers who buy them back enthusiastically at favorable terms. I have learned that my interests and tastes are fickle and evolving. There are enough dealers that do really want coins back when you are done with them, and these are the ones that get 95+% of my coin money.
I sold coins to the same dealers I bought from many times in the past. When I sold my coins, I never mentioned that the coins were acquired from them in the first place. In most cases, I only received 2/3 (~66%) of what I paid for and I wasn't surprised a bit because dealers need to make a living on the spread.
The dealer I like to sell my coins to is Legend Numismatic. They always went along with all of my asking prices, above BID but below ASK. Anyhow, if I want to sell my coins in the future, Legend is the first place that come to my mind.
Let's see if the poster from that company returns- I'm guessing his boss told him to head for the hills-
I would really like to know what the retail was on the coin that they discounted $6,000.
Cmon now I know your reading these posts, come on back and answer our questions. You can because "He is not screwing anyone" so you have nothing to hide.
I doubt it, Al. This is a 2 year old thread.
A few weeks later, I stopped by his shop to view and hopefully buy other coins and his son refused to deal with me. When I asked him why, he said that I tried to force his dad to buy back coin which I bought from somebody else. My eyes were wideopened, I then said: "the coin I sold back to your dad was the same coin I bought from him, didn't you see his handwriting on the 2x2 mylar?" The son stayed quiet for awhile and replied: "anyway, I don't like the way you deal with us." I smiled but completely understood.
From that day on, I've decided not to come to their shop. Looking back, may be I shouldn't kind of begging the old man to buy the coin back from me. But he was very nice though, I still respect him as of today and wish him well.
the dealer would be thrilled to buy back at a fair price.
If I want a pump and dump , I could buy my coins from
the Grocery Store.
Camelot
no
the above sounds like the promoted ga-ga grade hyper modern plastic market