Do you pay the price as marked or negotiate at your local retail coin shop?

silver2nd

It may be an ignorant question, but I believe everything is negotiable, and observed other dealers negotiating price. What is a good standard practice? I partronize a shop that I like and believe I read that, depending on the coin and how much you wanted it, bid plus or minus up to 30% would be fair. What are your experiences?

Russ

It depends. If I find a coin or set that is obviously worth a lot more than the asking price, I just buy it. Everything else, I negotiate.

Russ, NCNE

silver2nd

What do you use as a guide: Greysheet, Coinvalues, or something else?

Russ

<< <i>What do you use as a guide: Greysheet, Coinvalues, or something else? >>



I use what I think the coin would bring if I were to sell it.

Russ, NCNE

TUMUSS

I like to believe that everything is negotiatable...until I'm certain it's not.

jdimmick

I always ask for the best price, sometimes I dont expect to get it, but usually It is a little off the ask price.

Pefect example is the 1875 Seated Liberty Dime On e-bay now. The dealer had it marked at 100.00, which I would have paid because it was a very nice Ms-62 with original non-dipped luster. I asked and he let me have it at 75.00. Thierfore I was able to pass on the coin to a potential bidder at 100.00 dlvd if someone bids on the coin.

jim

Hedger

My dealer hikes up the price by a buck or two but is very conservitive on his grading. If it's slabbed or raw I can negotiate and get a few dollars off but only if I ask. He's pretty good at making a deal. He'll make the time to deal or answer questions for anyone who walks through his door.

mgoodm3

The couple coin shop that I go to occasionally will add up the prices on them all and take the total down 5% or 10%. I like that, but don't expect it. i don't mind paying the full price. The little coin shops are a hard business to make any money at.

pharmer

Some wise person said in another thread on prices that once you have a relationship with a shop/owner, the first price you get, not necessarily what is marked, may turn out to be the best. I think I was already approaching it like that, and keep going back when I feel that's what is going on.

wallstreetman

I negotiate at the mall!

carl

I've spent over 50 years going to flea markets and I don't think I could buy anything without negotiating on the price, installatioin, delivery or something. I firmly believe that everyone on Earth raises the price of everything because they also know people like me will hagle down the price no matter what. We all do it at car dealers, flea markets, swap meets, garage sales, yard sales and even at funeral parlors. Why not with a coin dealer? If you pay the full price, then great for the seller and also me because then the seller can afford to lower his price for someone like me because they made up the difference on the one that paid full price. When stores like Walmart or Kmart have a clearance isle they've already made their money on the previous full price sales. I even hagle with them at those stores on the clearance sale items. So why not on coins?

ddbird

Im friends with my local dealer...he always just takes about 10% off the price listed.

TheRaven

It more depends on the price of the coin.....

If it is a $300 coin, Yes I always do some negotiating.....

If it is a $5 coin, I just usually pay it.....

Now if I am buying a lot of coins and the total is over $100 i try and negotiate.....

relayer

I think it's kind of rude to go into a retail business and start saying "I'll give you $100 for that, $80 for that and $50 for the other"

But if it is something I like, but think it's too much I'll ask if I can get it for $x. Sometimes it's yes and sometimes it's no. Or if I pick out a few coins I'll ask if I can get the group for $x

My local shop never changes sale tax (if you pay in cash ) as long as he knows you don't work for the government.

DHeath

I always ask the price, and pass or go depending on whether it works for me. The guys I buy from price the same way, so it works for us all. I don't argue grade because someone's feelings will get hurt, it's just price, and it's just yes or no. I buy enough from them that we're all OK.

dorkbar

Another good idea is to buy a bunch and then ask him to throw in some freebies, e.g., some cheap stuff he doesn't much care about (moderns ) or supplies.

ldhair

I just ask what they need for it.
Most of the time a small discount is offered.
I say yes or no.

mikebombs

Everyone likes to save money. When it comes to coins, I recommend being weary of stuff that is under priced. You could get lucky but you should be prepared to pay a big premium sometimes, too.

roadrunner

I'm in the vast minority here. Like DHeath, I usually either pass or play. In the rare instance where I just have to have the coin, and the price is a bit too high to what I can pay, I'll counter the difference. But on 80-90% of the coins my local retail shop offers, I pay his price. Just like I don't deal with buyers who counter on the majority of coins (I have too much else to do with my time) so I don't expect my local guy to keep selling to me if I'm always trying to save another 5% on every purchase. We both know he can sell the coin to the next guy just as easily in most cases. Right now it's not a lack of buyers, but a lack of decent material available for those buyers. When he does get a good coin in, I want to be known as the guy who will just buy it. And if the coin is already a good deal as marked, you don't build solid long term relationships by requesting even more of a discount. Eventually stuff like that gets back to the seller and you get placed on the "no quote" list.

roadrunner

Mrpawn

When I go through a dealer' showcased inventory an pick a few items I will almost always ask for his best "package deal"

If, when I walk in, the dealer says "Just back from the show and I found you this...." I will either pay the asked price or pass - I already know that if it ever hits the showcase the price will be higher.

AgMe

Hello all,

With some of the various outfits I deal with regularly, they usually give me "the best price" automatically, because they know I specialize in certain series. If the given price is too high (in my opinion), then we have to talk about why; sometimes the dealer "just puts too much into it" (he/she makes a mistake).

I try not to argue about the grade (to get the price down), however there is so much wiggle room in a grade (plus I'll only buy exceptional eye appeal coins). (On a similar note, I'll consider a few comments from a dealer on any thing I'm selling then I say "pass... you're wasting my time". There is too much business to do, to be arguing over small change.)

I try to give dealers I have a relationship with a profit.

-g

jdsinva

I'm on good terms with one local shop. He lets me search through any/all of his inventory, he sets aside coins he thinks I might like, he gives me first chance at some of the nicer coins that come in and he always knocks off 10% off of all purchases except consignments. The owner has a tendency to undergrade so, to me, that's an additional discount on the coins. I've seen people come in and try to haggle prices, he just puts his coins back and declines any sale, so why mess up a good thing?

silver2nd

Thanks all for the input, my experience with this dealer is he primarily grades and prices well according to Greysheet, auction realized prices, etc. I especially like your observations regarding how they handle savy customers like yourselves who pay asked for some items, and or negotiate a little on higher line items. I've also adopted the go, no go, approach without comment with a view to the longer term relationship in mind and hopefully getting first (or second behind even longer term customers) on the really good stuff.

tmot99

I am pretty loyal to my local shop. I visit just about every week. They go out and get me coins and know what I like. They are actively looking for coins for me. I dont feel it's appropriate to haggle on price in this case. Most of the time, they will work a discount off of the price listed. The owner gives me a little bit more than the "counter guys". If there is a really nice coin with a hefty price, I may ask if they can do any better than the price listed, but those requests are few and far between. I know they are in business to make money and they do a service for me and should get paid for it.

Longacre

I tend to buy less expensive items at my local shop. If the price is in the ballpark, I don't bother to negotiate.