Coins on approval -- PLEASE RE-READ 1/12/05 --
Millertime
Posts: 2,048 ✭✭
I'd like to know if there's a reputable dealer that would be willing to send a few coins at a time for approval. If there is any that are interested in hearing more details please PM me or if anyone knows a dealer that routinely does this please pass on their name. Ex: 3 or 4 different half dimes (raw) each with a value less than $100. I've done the eBay route (with mixed results) but I'd really like to see the coin I'm buying first so I can decide if it has eye appeal to me and I also like to compare prices before I buy.
If this topic should be under the BST forum please let me know and I'll post it there. Any comments are welcome.
Thanks
Shane Miller
If this topic should be under the BST forum please let me know and I'll post it there. Any comments are welcome.
Thanks
Shane Miller
0
Comments
My experience is that once you have a few successful transactions with a dealer, they get to know you and vice versa, most dealers will freely send you coins "on approval".
I think what you mean is an approval service where a dealer will send you a group of coins, and you will pick the one or two that you like the best and return the rest. I am not sure, especially with the market the way it is, that many dealers will be willing to send you high quality coins that you will tie up while making a decision. On the other hand, they might be willing to send some dogs that do not want in the hopes that you will buy one or two. Either way, be prepared to pay more than you would otherwise for the additional hassle, risk, and time cost to the dealer.
It might be better to develop a relationship with one (or two) dealer(s), let him get to know your likes and dislikes, and enlist him to get the kind of coins that you would be happy to own and that he would be proud to sell.
Since you feel this topic is appropriate here I'll give a little more detail. My next planned coin purchase (besides slabbed moderns) is a half dime for a type set. Based on my budget (under $100) I know that I can find a Capped Bust type in F-VF or a Seated type in G-AU. When I go to an unknown dealer where I live I'll see a few I'm interested in but I would like to examine the coin for more than a few minutes and then compare prices on the computer to make sure I'm paying at least a fair price. I'm not looking for a dealer that has an approval service (like Littleton) just one that I could request a few samples of what I'm looking for and go from there.
BTW, in case anyone's interested here's my eBay Feedback.
Shane
Complete Dime Set
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
42/92
<< <i>Hi, Millertime, I notice in your feedback that your buyers refer to a gmail account. What's that? >>
Google started a free email service that has 1GB of storage. It was originally offered by invite and people were selling the invites. I bought a couple and sold four of them.
Millertime
Complete Dime Set
You quoted
"It might be better to develop a relationship with one or two dealers. let him
know your likes and dislikes and enlist him to get the kind of coins that you would be
happy to own and that he would be proud to sell."
This may sound good but the fact remains that few dealers pay much attention to want lists.
I have contacted four seperate high profile dealers either at a show or over the phone and
not one of them have come up with coin one. Two of these requests date back more than
a year. Oh what's on my want list? Just a PQ 66 Saint, a PQ 1938-D 67 Buffalo and a PQ
65 Barber Half. It is not like these coins are hard to find.
I think that we are better off at the auctions.
<< <i>RYK
You quoted
"It might be better to develop a relationship with one or two dealers. let him
know your likes and dislikes and enlist him to get the kind of coins that you would be
happy to own and that he would be proud to sell."
This may sound good but the fact remains that few dealers pay much attention to want lists.
I have contacted four seperate high profile dealers either at a show or over the phone and
not one of them have come up with coin one. Two of these requests date back more than
a year. Oh what's on my want list? Just a PQ 66 Saint, a PQ 1938-D 67 Buffalo and a PQ
65 Barber Half. It is not like these coins are hard to find.
I think that we are better off at the auctions. >>
But do you have a relationship with these dealers? Have you bought from them before? I've been conversing with Dennis of Jade for sometime, and we've become good friends, as well as have a good professional relationship. I've bought several coins from him, and sold a few coins with him... he's also been a huge help in locating coins for me, and helping me out with looking at coins that I want to buy, even though he wasn't selling them. While Dennis is a nice guy, and as long as he likes you, I'm sure he'd happilly help out... but the big thing, is developing that relationship... once the relationship is there, it makes things a lot easier. If I took your same want list to Dennis... I would probally have those coins in my hand within a few shows, as long as they were available... and I know he would, because Dennis is a good dealer, and works very hard to do his customers right...
42/92
Complete Dime Set
You quoted
"It might be better to develop a relationship with one or two dealers. let him
know your likes and dislikes and enlist him to get the kind of coins that you would be
happy to own and that he would be proud to sell."
This may sound good but the fact remains that few dealers pay much attention to want lists.
I have contacted four seperate high profile dealers either at a show or over the phone and
not one of them have come up with coin one. Two of these requests date back more than
a year. Oh what's on my want list? Just a PQ 66 Saint, a PQ 1938-D 67 Buffalo and a PQ
65 Barber Half. It is not like these coins are hard to find.
I think that we are better off at the auctions.
Perhaps one of the problems is that you have contacted four separate dealers. Perhaps, if you deveoped a relationship with one dealer, your want list would get worked (like JrGMan).
I have never given out a want list (and, BTW, have no problem buying the scarce coins I seek), but if I did, I would not ask for a "PQ 66 Saint". It makes it harder for the dealer to fulfill the expectation and perhaps less likely to try. Everyone wants PQ. No one ever asks for "POS 66 Saint". There is probably a "right" way to have a dealer work a want list and a "wrong" way.
As for the auctions, buyer beware. I am not expert enough to go after serious coins without professional help (because I am not wealthy enough to afford the mistakes!).
<< <i>As for the auctions, buyer beware. I am not expert enough to go after serious coins without professional help (because I am not wealthy enough to afford the mistakes!). >>
I agree with beware of eBay auctions. I've bought a couple of 1/2 cents, a large cent (1798), a 2 cent and a 1909 Quarter Eagle. With the exception of the Quarter Eagle I think I've done fairly well on value. I know that I probably wouldn't have bought some of the stuff if I had seen it in person just because it didn't have the eye appeal and there's always another deal lurking around the corner.
Going to the coin shop you get the chance to look at the coin and decide that it does, or doesn't, have the eye appeal you're looking for Then you start wondering about the price. Unless you're an expert on a series, or limit yourself to certain years that you've studied the prices on, there's know way you're going to know what a good price is on the coin. With a limited budget I don't want to have second thoughts about a single purchase regarding the quality or price.
If I have a small selection of coins in hand that I can thoroughly study and compare prices from multiple sources there's is no second guesses. If the coin has that eye appeal that takes your breath away and it's 2X the normal price it's still a good deal because you know exactly what you're sacrificing.
This is my take on the whole situation after experiencing eBay firsthand and reading all the hundreds and hundreds of posts about the coins that the pictures don't tell the whole story.
Millertime
Complete Dime Set
Of course nobody asks for POS 66 Saints, but apparently some people buy them because
at the last show I attended there were many POS 66 Saints in the dealers trays. My theory
is that on dealer set up day all the quality material is purchased by dealers. Then the coins
are sent in for upgrade or sold at premiums to their high roller customers. I would like to be
one of their customers but the only problem is that I am not a high roller. At least not yet.
Why should I have to wine and dine or establish a relationship with a dealer. Coach Dennis
Erickson was just fired by the 49ers for going 2-14 this year and now I have fired the four
dealers who went a combined 0-32 for me this year. 32 shows and no PQ coins not even a
phone call. I have however hired a new guy from Southern California who is promising
results. But I will be at the Long Beach auction.
"Wining and dining" have nothing to do with it. If you do not understand the benefit of a relationship, let me illustrate it with an example:
I am a dealer who gets a PQ MS 66 Saint in my inventory. I have four customers who are seeking such a coin:
#1 is a regular customer, who buys coins from me monthly.
#2 is a sporadic customer, who has referred me other customers.
#3 is a new customer, who purchased a couple of Saints from me and has asked me to help him put together a Saint collection.
#4 is a guy I do not know who sent me a want list for 3 generic coins.
While I cannot tell you who is going to get first shot at the "PQ MS 66 Saint", I can say with great confidence who is going to get last shot at it, and I think that you can, also.
<< <i>Why should I have to wine and dine or establish a relationship with a dealer.
"Wining and dining" have nothing to do with it. If you do not understand the benefit of a relationship, let me illustrate it with an example:
I am a dealer who gets a PQ MS 66 Saint in my inventory. I have four customers who are seeking such a coin:
#1 is a regular customer, who buys coins from me monthly.
#2 is a sporadic customer, who has referred me other customers.
#3 is a new customer, who purchased a couple of Saints from me and has asked me to help him put together a Saint collection.
#4 is a guy I do not know who sent me a want list for 3 generic coins.
While I cannot tell you who is going to get first shot at the "PQ MS 66 Saint", I can say with great confidence who is going to get last shot at it, and I think that you can, also. >>
If I'm guy #4 looking for a sample of half dimes, what do I do? It sounds like you're saying that it's highly unlikely that I'll find anyone on this forum that is willing to deal with me until I move myself up to #1 or #2.
Complete Dime Set
Become #1, #2, or #3. It is not as hard as it sounds. Remember, it's not about the money, and it's no different than other facets of life.
<< <i>If I'm guy #4 looking for a sample of half dimes, what do I do? It sounds like you're saying that it's highly unlikely that I'll find anyone on this forum that is willing to deal with me until I move myself up to #1 or #2.
Become #1, #2, or #3. It is not as hard as it sounds. Remember, it's not about the money, and it's no different than other facets of life. >>
I'm sure there's a lot of dealers that will never send coins on approval not matter how many coins you buy from them. Just like I know there's people out there that would be willing to after a few emails back and forth or a phone call or two. I'm trying to find the dealers that are willing to send coins on approval. If I have to develop a relationship with this dealer that's fine but I don't want to start down a dead end.
Complete Dime Set
<< <i>Why should I have to wine and dine or establish a relationship with a dealer.
"Wining and dining" have nothing to do with it. If you do not understand the benefit of a relationship, let me illustrate it with an example:
I am a dealer who gets a PQ MS 66 Saint in my inventory. I have four customers who are seeking such a coin:
#1 is a regular customer, who buys coins from me monthly.
#2 is a sporadic customer, who has referred me other customers.
#3 is a new customer, who purchased a couple of Saints from me and has asked me to help him put together a Saint collection.
#4 is a guy I do not know who sent me a want list for 3 generic coins.
While I cannot tell you who is going to get first shot at the "PQ MS 66 Saint", I can say with great confidence who is going to get last shot at it, and I think that you can, also. >>
Good one Robert!
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
A PQ 67 Buffalo may only cost me about $ 225-250 which is no sweat but a PQ 66 Saint is over ten times that amount and at least for me that is a lot of $$$$$. I know that there has to be at least a few dealers out there who work hard to please the little guy. I just do not have the funds to become #1 or #2 and to be honest I do not want to do business with dealers who could care less.
Please turn on your PM function ("allow private messages") in your profile, and look for a message in the left upper portion of your screen.
No one said anything about being a high roller. Substitute buffalo nickel for Saint in my example, and the lesson remains the same.
Personal Ebay Auctions
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TOP 100 MORGANS / HOT 50
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Most dealers dont send coins to people they dont know. Once you've built a good relationship with a dealer, they'll usually send coins on appoval. It varries from dealer to dealer, though.
David
<< <i>Shane,
Most dealers dont send coins to people they dont know. Once you've built a good relationship with a dealer, they'll usually send coins on appoval. It varries from dealer to dealer, though.
David >>
Thanks Dave,
I'm willing to start a relationship with a dealer but how do I go about trying to find a dealer that will start working with me? I'd like to find one on this forum because I feel that this forum has a lot of intregrity among the members. Should I start a new topic asking specifically for dealers that deal with low budget collectors like myself and that would consider sending coins on approval after a "probation" period. I was trying to do this but then the topic seemed to head in a different direction.
Any advice would be appreciated.
Millertime
Complete Dime Set
<< <i>Why don't you go to a coin show and check the coin out with your own eyes. Bring a greysheet with you and price it out with that. >>
There doesn't seem to be a lot of coin shows in Salt Lake City and it's the same as a coin dealer. I can see the coin and decide I like the coin but I also like to shop around and see if I'm getting a fair price. Unless I'm an expert on the series it's hard to tell what I'm getting. The only pricing guide I have to date is the Red Book. I did find out about a couple of regulars on this forum that will be attending the next show at the end of this month. I plan on talking to them more and see if they have the coins I'm looking for.
Complete Dime Set
The redbook is a retail price guide. I doubt you will be able to find anyone to send you coins before you actually meet them.
Personal Ebay Auctions
My Website
---------------------------------------------
ALWAYS LOOKING TO PURCHASE
TOP 100 MORGANS / HOT 50
TOP 50 PEACE VAMS
<< <i>I read that you were looking for a half dime. I saw this one on ebay and it wasn't bad. It was auction #3950685934
The redbook is a retail price guide. I doubt you will be able to find anyone to send you coins before you actually meet them. >>
Thanks for the auction link. I've decided that (for now anyways) I'm only going to buy the PCGS slabbed moderns on eBay and get back to what I feel is real collecting, actually examing the coin I'm going to add to my collection. I consider my collection something that I should know every detail about and can picture what each coin looks like. When I see a coin in the slab I'm automatically drawn to the grade that was assigned and not what the coin looks like. I bought a 2 cent piece that looked really nice and the price was decent but when I actually got it all I see are the scratches running across it. As far as the Red Book goes I don't follow it to a tee but I feel that it gets me in the ballpark. Red Book on this half dime is $50 and the BIN price is $52, I consider that well within the ball park.
Millertime
Complete Dime Set
I work with several dealers and a few individuals. Most of my purchases are mid-three figures or less. Most of these people want to be paid up front, but not all, and not always. I always offer anyway.
I check their inventory, email, call ... whatever I have to do to see if they have something that might interest me. I'd send them a want list, but I'm small peanuts. Even if I bought from only one dealer and he tagged me for 25% on every purchase, I doubt he'd make in a year what I gross in a week.
Anyway, I find something. We discuss a coin or two they have, agree on a price and I ask them to ship it. They can either charge my cash card or expect me to pay if I keep it (them). Always a return policy. I turn them back quick if I'm not interested. Never a problem.
If I want a specific coin I keep calling (or e-mailing), reminding them my money is still here and I'm still without the coin(s) I want.
This weekend I sent a note about a couple of coins to one of those dealers. Last night I had mail with a couple of pictures.
My reply note was this ...
... thanks for the images. Both nice looking pieces.
I'd be interested in both if we could work a deal on the two. I know you probably don't make much on these, but I'd be game at 198. for the pair.
Let me know, or just go ahead and ship (and charge my card) if you can do that (or better??)
I can be reached on my cell phone at ... anytime after 6:30a Pacific time.
Best Regards,
Todd
I recieved confirmation tonight that they are in route, and that my card will be charged 195. (it was a small token, but one I will remember). They had also originally been asking more than my offer.
If I don't like them, I send one or both back. I don't think I will becuase the images are very good and theirs are typically quite accurate. It's like an approval I guess, but ...
I have to put my money where my mouth is first.
And I have to keep looking, or emailing, or calling.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
If you work with dealers, they'll work with you. There is a lot of trust in the coin buisness. There's also a lot of common sence. They're just not going to start sending coins to someone on-approvale if they dont know that person. If you were a dealer, would you drop a $20 coin in the mail to someone you didnt know and hope they either send the coin back or send payment?
Do you have a local coin shop you can go to? You might be better off going that route.
David
<< <i>...how do I go about trying to find a dealer that will start working with me?{i]
If you work with dealers, they'll work with you. There is a lot of trust in the coin buisness. There's also a lot of common sence. They're just not going to start sending coins to someone on-approvale if they dont know that person. If you were a dealer, would you drop a $20 coin in the mail to someone you didnt know and hope they either send the coin back or send payment?
Do you have a local coin shop you can go to? You might be better off going that route.
David >>
Actually if I was fortunate enought to own a coin shop I would work with someone on an approval basis. Here's a scenario I was hoping for:
I get a response from a dealer that read my post about coins on approval. He wants to know what I'm expecting and I tell him I'm working on a type set of circulated coins. I'm starting with a budget of roughly a $100 monthly or bi-monthly. I would hope to request 3-4 coins of a certain type I'm looking for (ex: half dimes). The selection of coins need to be within my budget and be in decent shape, year or mint is not a concern, hopefully I could get some variety (ex: Bust and Seated). I would like to examine the coins for a few days, compare prices for similar coins, and then decide what I'm going to purchase (if any). I understand that this is a business and I wouldn't expect killer deals (it would be nice) but fair honest pricing. As far as minimizing the dealer's risk I would be willing to have a credit card on file with him and would only want coins when requested. I feel that I should be at least partially responsible for shipping costs (especially if I don't purchase anything). My responsibilites are that I need to handle the coins with the care required to keep them in the same shape as I received them and when I return them they're shipped with the same care.
I don't see how the dealer has a lot to risk here. Granted, I could give him a fake credit card number but if I made one small purchase using the card first that risk would be minimized. I think after a few emails back and forth the dealer would have a feel for my intent. This would be establishing a relationship with a dealer as most people that responded to this post said I need to do, which I understand.
This whole post was intended to start a relationship with dealers on this forum. I was hoping a couple of dealers would PM me and want to discuss this situation. I have the name of one dealer, JadeRareCoins, that George told me about. This is at least what I was hoping for. I'm not looking for handouts.
Sorry for the long rambling reply.
Millertime
Complete Dime Set
hard to start the relationship with, "Send me coins, and if I like
them, I will buy them." It is much easier to order coins from a
dealer's inventory, return anything that you don't like, and then
once you have ordered a few times, indicate that you are looking
for material like what you have ordered and then ask if they can
send stuff to you to review.
The biggest problem that I see for your asking a dealer to send
you items on approval, is that now you are taking up his time and
effort to put together your goodie bag, instead of you spending
the time to go through an inventory list and deciding on what you
would be interested in.
<< <i>This whole post was intended to start a relationship with dealers on this forum. I was hoping a couple of dealers would PM me and want to discuss this situation. I have the name of one dealer, JadeRareCoins, that George told me about. This is at least what I was hoping for. I'm not looking for handouts. >>
Just seconding this recommendation, JadeRareCoins is a very honest and 'personal' dealer from my experience with them and from everything I've heard of other's experiences.
Self Indulgence | Holey Coins | Flickr Photostream
<< <i>The biggest problem that I see for your asking a dealer to send you items on approval, is that now you are taking up his time and effort to put together your goodie bag, instead of you spending the time to go through an inventory list and deciding on what you would be interested in. >>
If I go through their inventory list I'm not going to see everything they have. After looking at quite a few of their websites the inventory seems geared to collectors with higher budgets. Why would they waste the space for a $50 coin when they can put a $1000 coin? I would think that building a solid customer base would be a priority for a dealer regardless if their customers are high rollers or not (at least that's the dealer I want to buy coins from). Looking through their unlisted inventory and put together a requested "goodie bag" would do two things. Save them the cost of listing the coin and quite possible create a lifetime customer that will move up and purchase their high priced items.
<< <i>This whole post was intended to start a relationship with dealers on this forum. I was hoping a couple of dealers would PM me and want to discuss this situation. I have the name of one dealer, JadeRareCoins, that George told me about. This is at least what I was hoping for. I'm not looking for handouts.
Just seconding this recommendation, JadeRareCoins is a very honest and 'personal' dealer from my experience with them and from everything I've heard of other's experiences. >>
I've looked at their website and plan on contacting them next week about a couple of things. I don't see anything about a return policy or what kind of shipping charges they have, do you know how they handle that?
Thanks,
Millertime
Complete Dime Set
<< <i>Unless you're an expert on a series, or limit yourself to certain years that you've studied the prices on, there's know way you're going to know what a good price is on the coin. >>
An alternative is to take a price guide to the coin shop. I do this if I'm looking for something outside of the series that I collect.
Ken
I am concerned that you are attempting to achieve the impossible combination of great service, high-quality coins, and bargain-basement prices. Two out of the three is readily achievable, but three out of three is nearly impossible (for any service) to deliver.
Have you ever thought about doing your homework FIRST on the coins you are looking for? Take the price with you.
<< <i>Millertime,
I am concerned that you are attempting to achieve the impossible combination of great service, high-quality coins, and bargain-basement prices. Two out of the three is readily achievable, but three out of three is nearly impossible (for any service) to deliver. >>
I'm looking for:
#1: Great service - I want to deal with someone on a fairly consistent basis that I can trust. If I get a selection in the mail I want to open it knowing I'm going to see 3 coins that I could close my eyes pick one and it will be fairly priced and graded.
#2: Decent selection and quality - I'd like a selection to choose from and fair grades. If they say it's VG then it should be. But I'm not interested in coins that are graded VG in detail but are bent or have holes. Even AG coins can have eye appeal unless they're bent, holed or corroded. If a dealer has good prices but most of the coins are scratched or have other problems I'm unlikely to keep shopping with him.
#3: Fair prices - Of course I'd like bargain basement prices but I'm also realistic. If they're charging $75, Red Book says $50 and other onlices sources show $55. I don't think that a fair price unless there's something spectacular about the coin
If a dealer has good customer service then I think the rest fall into place easily. Do you really think this is too much to ask? I thought I was making a simple request. Maybe I'm too trusting and expect.
Millertime
Complete Dime Set
<< <i>If a dealer has good customer service then I think the rest fall into place easily. Do you really think this is too much to ask? I thought I was making a simple request. Maybe I'm too trusting and expect. >>
Its not too much to ask, but it a lot of work for the dealer to be doing and mailing for $100 a month total sales. Most dealers won't do it and would rather have you come into their shop and look at the coins.
Cameron Kiefer
<< <i>Millertime,
I am concerned that you are attempting to achieve the impossible combination of great service, high-quality coins, and bargain-basement prices. Two out of the three is readily achievable, but three out of three is nearly impossible (for any service) to deliver. >>
You are asking for everything and giving nothing. Why do you need to hold them "for a few days"? I know. THEN you will check out other prices. Get real. My first thought when I read your requests and saw the "few days" was get em, list em on ebay, see if any bites for 3-5 days, send em back if not.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
<< <i>Have you ever thought about doing your homework FIRST on the coins you are looking for? Take the price with you. >>
I'm interested in a half dime that's in G-EF condition for under $100 that looks good to me. That covers almost all of the Capped Bust and most of the Seated. I don't mean to stress the price shopping. Of couse I can take the price guide and see if the price for that year, mint, and grade is good. It's more I can spend $50 on this coin or I can spend $50 on this other one. What's a better deal.
Complete Dime Set
Dennis is at FUN right now, but I suggest you drop him a PM, or call him sometime in the middle to late next week (Link to Website) You can also look around on his web site (Though, as I type this, the web site appears to be down) and see if he's got anything on there you are interested. Call him up, talk to him about the coins, and ask if he has anything else in inventory that fits your criteria, and ask him if he'd be willing to send the coins on approval to you. The worst he can say is, No... And then you may have to judge by his pictures (Which are pretty accurate) and buy a coin... if you absolutely hate it when you get it, you can always send it back...
42/92
<< <i>You are asking for everything and giving nothing. Why do you need to hold them "for a few days"? I know. THEN you will check out other prices. Get real. My first thought when I read your requests and saw the "few days" was get em, list em on ebay, see if any bites for 3-5 days, send em back if not. >>
First of all that's BS, I don't sell my coins. If I expect dealers to be honest and straight forward then I'd damn well better have the same standards for myself. I obsess over my coins I'll pick up my favorites coins and look at them all the time or even carry them with me so I can look at it whenever I want. If I look at a selection of coins I receive on approval I'll look at them many, many times over a few days. I've probably made up my mind in the first 10 minutes but if I'm still convinced I like the coin after a few days then I know I'll be happy with the coin and that dealer has a satisfied customer, which should be what dealers strive for regardless of our budgets.
Millertime
Complete Dime Set
<< <i>
<< <i>This whole post was intended to start a relationship with dealers on this forum. I was hoping a couple of dealers would PM me and want to discuss this situation. I have the name of one dealer, JadeRareCoins, that George told me about. This is at least what I was hoping for. I'm not looking for handouts.
Just seconding this recommendation, JadeRareCoins is a very honest and 'personal' dealer from my experience with them and from everything I've heard of other's experiences. >>
I've looked at their website and plan on contacting them next week about a couple of things. I don't see anything about a return policy or what kind of shipping charges they have, do you know how they handle that?
Thanks,
Millertime >>
Dennis does offer a return policy, I don't remember the specifics, as I have not had reason to return any coin... and Dennis includes shipping in the price of the coin...
42/92
<< <i>Here's my suggestions for you... the coins you are looking for (at least right now) are coins that Dennis (JadeRareCoin) deals in regularly... and I'm sure he can help you out with a lot more type coins that you might be looking for... And if he doesn't have the coins you're looking for in inventory, he can talk to his partner, Andy and try to get things from him, or acquire coins at shows that he thinks you would like, but that he could resell if you didn't...
Dennis is at FUN right now, but I suggest you drop him a PM, or call him sometime in the middle to late next week (Link to Website) You can also look around on his web site (Though, as I type this, the web site appears to be down) and see if he's got anything on there you are interested. Call him up, talk to him about the coins, and ask if he has anything else in inventory that fits your criteria, and ask him if he'd be willing to send the coins on approval to you. The worst he can say is, No... And then you may have to judge by his pictures (Which are pretty accurate) and buy a coin... if you absolutely hate it when you get it, you can always send it back... >>
George,
That's my intent. I have along way to go on my type set so I would like to find a dealer early in the game. I like his pictures and his pricing seems decent. The selection on the website is geared a little higher than my budget but I'll find out if has any others in his inventory. Your posts have been very helpful and appreciated.
Thanks,
Millertime
Complete Dime Set
<< <i>If a dealer has good customer service then I think the rest fall into place easily. Do you really think this is too much to ask? I thought I was making a simple request. Maybe I'm too trusting and expect. >>
Its not too much to ask, but it a lot of work for the dealer to be doing and mailing for $100 a month total sales. Most dealers won't do it and would rather have you come into their shop and look at the coins.
Cameron Kiefer >>
I imagine it is a fair amount of work for them to do this and I'm sure most dealers won't do it. I was hoping for a couple that would even consider it and then go from there. I really don't expect a package in the mail tomorrow. I'm hoping to email a dealer back and forth a few or talk to him over the phone a few times and then go from there. I know they have to
make their money.
Complete Dime Set
42/92
I am not sure, especially with the market the way it is, that many dealers will be willing to send you high quality coins that you will tie up while making a decision. On the other hand, they might be willing to send some dogs that do not want in the hopes that you will buy one or two. Either way, be prepared to pay more than you would otherwise for the additional hassle, risk, and time cost to the dealer.
It might be better to develop a relationship with one (or two) dealer(s), let him get to know your likes and dislikes, and enlist him to get the kind of coins that you would be happy to own and that he would be proud to sell.
A propos to the second part of my reply, I agree with George that Dennis/Jade would be such a person to recommend. I am not sure that he, or anyone else for that matter, would be inclined to send you five $100 coins and allow you to pick one. Perhaps if you guaranteed the purchase of all five with a credit card, it could happen. As above, I think that you should be prepared to pay more than typical pricing because of the additional hassle, risk, and opportunity cost for the dealer.
First, an alternative/shortcut to building a relationship with a dealer is to use a dealer with whom you have a relationship as a reference. The new dealer can call and speak your current dealer. If the new dealer is then comfortable with your credit etc., he will then likely be willing to send the coins.
Second, the relationship can be built with intereaction other than buying/selling and doesn't have to take that long. Dealers regularly have to make quick decisions on who to trust and who not to. Whether it is safe to send a coin on approval, before a check clears, without checking references, etc. A short chat is often enough for a dealer to become comfortable. There was a thread on here yesterday about expensive coins boing sent on approval with another post about someone taking a coin home from a show and sending a check later, etc. This type of activity regularly occurs in the business where there is a comfort level. This comfort level can often be achieved quickly with many dealers in person or even by phone. It is a bit tougher by email so don't rely too much on that approach with most dealers. If they can't look you in the eye and make a judgment call at least give them the benefit of hearing your voice and deciding if you're for real.
For the price level your talking about, I think many dealers would send icoins based on a short telephone conversation with you. Call them up. Tell them who you are, who you've done business with and what your current goals are. Tell them what you're interested in. If they have it, explain your situation and ask if they would be willing to send it/them out on approval. Many dealers will be comfortable doing this with coins in the price range you're talking about.
You can also help reduce their exposure a bit. If they have two or three examples, rather than having them all shipped, get a good description of each and ask a lot of questions. Based in the info, have them ship the one you're most likely to want. Think of the dealer's situation. If he just has one coin out of inventory, to package, ship and so forth and he's pretty sure based on a detailed conversation that it will sell, it is an attractive situation. On the other hand, if you are previewing three pieces to select one, then he packs and sends three, has all three out of his inventory and potentially loses sales on one or more of them, and knows when he's sending it out that at least two of the three are coming back to him. Obvisously, it is not as attractive of a situation. Other ways you can make it better for the dealer is agree to give a quick answer (e.g., 24 hours) and perhaps return any unwanted coins by overnight mail. While this adds some cost to you it really is quite reasonable to the dealer so that he can keep his inventory available.
Hope that helps,
WH