Home U.S. Coin Forum

OK, so I take a trip to a local coin shop today with my son...FOLLOW-UP in first post

CoinHuskerCoinHusker Posts: 5,033 ✭✭✭
Samuel's out of school and I had the morning free so I thought we could drive down to a local coin shop and look around and possibly do some trading.

Well, we walk in and look around and most of the cases are nearly empty. The owner is busy on the phone and when he's done comes over and asks how we are and what we're interested in. Right away Samuel asks about silver eagle's for his dansco. "Don't got em". So, he struck out.

I said, "Well, I brought a few things to see if you'd be interested in a trade". I take out some dupes from my IKE registry set, all 65+ coins. He gets out a "Coin Values" looks at a couple of my coins, looks in values and says, "$15 each is the best I can do, and I have so many on my website already that I can't even sell for that". I tell him my price and we immediately come to a mutual agreement that we weren't going anywhwere.

I get home, go online, and check his website. His IKe's, the one's he told me he can't sell for $15 on his website, are $70+!

So either he had a bad memory or he was trying to rip me. Guess which?

Now what's worse about this is that he knows I'm a IKE guy, and though I'm no expert, I am pretty well acquainted with values, etc. for IKes and he tries to low ball me like that. I mean he was nice and everything but...Unbelieveable.


Also, before we left I asked if he had any modern $5 gold commems in the original packaging. He says, "No, we sell 'em for melt". I said, "You sell 'em for melt"? "Yeah, grey sheet is even below melt on those, not many people know that, so we buy them for that and melt 'em." I said, "Which years?" "All years, it doesn't matter. They're not worth anything more to me than melt."


I mean, After his BS on the IKE's I don't know if I can beleive anything he says. But, if that's true, modern gold commems will have a market in the future if other dealers like him are just melting them.

Either way, I think that was my last trip to that shop. For some reason I always feel like I need a shower or something after I leave.

image


edit for spellingimage
__________________________________________________

Follow-up

As a follow up to my coin shop trip yesterday, I went back this morning to buy the Ikes he couldn't sell for $15. Guess what, I picked out what I wanted and he priced them $49, $69 and up to $95! image Then he shows me a big cardboard shipping box full of misc. slabs of all sorts of coins and denominations and said "I bought this box of slabs for $6 a slab. I buy boxes like this from dealers all the time." Out of it came a real nice PCGS MS65 73-P Ike. That's the one he wanted $95 for. Not a bad price, but when a shop owner brags he paid $6 bucks for it I hate to pay that mark-up, Especially right after he brags about how cheap he gets them! To top it off, he offered me $15 for my PCGS MS65 73-P yeasterday saying that is what it's trending at. Those trends sure jumped over night from $15 to $95. image

To be fair, I enjoyed my trip back. We had a nice visit about collecting and the collecting environment in Omaha. I understand he's in a "business" not a charity and I have no problem with that (other than envy at his $6 buys image ) But I'd be more of a buyer if he didn't brag about how cheap he buys coins just before he slaps his price on it. Talk about sticker shock. image


As for the $5 modern gold commems. I asked him about those and he brought out a lunch size bag of them (4 - 1989 congressional proof, 2- statue of Liberty proofs & 1 constitution all in mint packaging and COA's) that he said he sold @ melt this morning. I told him when he gets more in to let me know. image
Collecting coins, medals and currency featuring "The Sower"

Comments

  • CladiatorCladiator Posts: 18,056 ✭✭✭✭✭
    And this lovely shop would be???
  • krankykranky Posts: 8,709 ✭✭✭
    I wonder what he would have said if you asked to buy the $15 Ikes.

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • SanctionIISanctionII Posts: 12,182 ✭✭✭✭✭
    What did your son think of the experience at the shop? And did you relay to him the same information you posted above. It would be interesting to get the impressions/thoughts of your son, both before and after you told him whatever you told him?
  • CoinHuskerCoinHusker Posts: 5,033 ✭✭✭


    << <i>And this lovely shop would be??? >>




    Well, I hesitate to say since I'm an officer for our Coin Club, and might have to deal with these folks on other levels than merely personal. And I can imagine how fun that may be. image





    << <i>I wonder what he would have said if you asked to buy the $15 Ikes. >>



    Funny you should say that...I was so tempted to say, "OK, I'll take what you got." image
    Collecting coins, medals and currency featuring "The Sower"
  • CoinHuskerCoinHusker Posts: 5,033 ✭✭✭


    << <i>What did your son think of the experience at the shop? And did you relay to him the same information you posted above. It would be interesting to get the impressions/thoughts of your son, both before and after you told him whatever you told him? >>





    Well, after I did my "dealing" I asked him if he wanted to look around at anything else. Now if you knew Samuel, that's like saying "sick 'em" to a hound dog. Well, he just shook his head no and said he wanted to go. I asked him "Why?" when we got out to the car and he said, "I don't know, it was just kind of creepy in there."
    Collecting coins, medals and currency featuring "The Sower"
  • carlcarl Posts: 2,054


    << <i>I wonder what he would have said if you asked to buy the $15 Ikes. >>



    I agree with that. You really should have said "great, I'll take all you have for that amount."
    Also, you should give out the name of that place. Why should any coin collector have to put up with people like that? Imagine if he would cheat you, what do you think he would do to some little old lady that needs the money.
    Maybe a good story for your son to try and have published. "Coin dealer honesty"
    Carl
  • joefrojoefro Posts: 1,872 ✭✭


    << <i>

    Funny you should say that...I was so tempted to say, "OK, I'll take what you got." image >>



    Seriously, you should call him back and say, "I was thinking about how you said you couldn't get rid of those Ikes for $15 and I felt bad for you, so I'll do you a favor and take them all off your hands." What could he say... oh we don't have anymore? I don't think so right after he told you he had too many already. Stick it to em!
    Lincoln Cent & Libertad Collector
  • Or you could do a positive thing and move on and find a better shop that works for you and your son. Life's too short to fight battles like this.
  • lavalava Posts: 3,286 ✭✭✭
    Sounds like the guy is so used to spewing bs that he can't even keep up with his own tall tales. Somehow I think his $15 dollar Ikes would become the margin he was seeking if you asked to pay that.
    I brake for ear bars.
  • 291fifth291fifth Posts: 24,385 ✭✭✭✭✭
    Why do I suspect that you may have made your last visit to this shop?
    All glory is fleeting.
  • How about a web site then if you cant "out" the shop?
  • kiyotekiyote Posts: 5,580 ✭✭✭✭✭


    << <i>

    Also, before we left I asked if he had any modern $5 gold commems in the original packaging. He says, "No, we sell 'em for melt". I said, "You sell 'em for melt"? "Yeah, grey sheet is even below melt on those, not many people know that, so we buy them for that and melt 'em." I said, "Which years?" "All years, it doesn't matter. They're not worth anything more to me than melt." .
    >>



    Cool, I'll drop by later and get the Civil War $5 in Unc and the Jackie Robinson Unc $5 for melt! I don't need the original boxes.
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
  • SanctionIISanctionII Posts: 12,182 ✭✭✭✭✭
    Your son seems to have a good head on his shoulders and is very quick to size things up. Kudos to him, I assume a chip off the old block?
  • CoinHuskerCoinHusker Posts: 5,033 ✭✭✭


    << <i>Your son seems to have a good head on his shoulders and is very quick to size things up. Kudos to him, I assume a chip off the old block? >>



    Thanks!
    image





    << <i>Or you could do a positive thing and move on and find a better shop that works for you and your son. Life's too short to fight battles like this. >>




    You're right on. I've quit jousting at windmills.





    << <i>
    Cool, I'll drop by later and get the Civil War $5 in Unc and the Jackie Robinson Unc $5 for melt! I don't need the original boxes. >>




    When he said that about all the $5 commems have the same value to him is when the needle broke on the old BS meter for me. image
    Collecting coins, medals and currency featuring "The Sower"
  • gyocomgdgyocomgd Posts: 2,582 ✭✭✭


    << <i>I wonder what he would have said if you asked to buy the $15 Ikes. >>



    Exactly. You should have offered $15 for them and trapped him right there. He deserved it.
    image
  • RedTigerRedTiger Posts: 5,608
    Unfortunately, it sounds like quite an average experience. Its just business. I would not hold it against the dealer. Only an exceptional dealer would make a strong offer for walk in Ikes, that's just the way of the world.
    /edit minor typos /
  • fcfc Posts: 12,793 ✭✭✭
    15 dollars seems fair. after all, you are talking to a dealer.

    cough
  • SamByrdSamByrd Posts: 3,131 ✭✭✭✭
    hmm I read that the dealer made an offer on the IKES that was low in your view, if a dealer has a lot of something that is not popular you can expect that result. Certainly not fair to say he was attempting to "rip " you he made an offer you said no thats how buying and selling works.

    If you had brought something popular in the marketplace that he wanted I bet you would have seen another result, I have been treated reasonably by dealers and when I dont get an offer that I think is fair I dont bag on the dealer, I sell it somewhere else. just my opinion, most dealers are fair if you have something they want.
  • BochimanBochiman Posts: 25,417 ✭✭✭✭✭
    I think those of you defending the dealer are way off.
    IF the dealer had stated that he couldn't move the Ikes because they weren't popular and couldn't offer more than $15, and left it at that, fine.....I would agree with you.

    However, and I am inclined to believe CoinHusker's recollection on this, he said he can't even sell the ones on his web site 'for that', which was a reference to the $15 mentioned.
    When CH got home and looked at the website, they were listed for $70+.

    So, the dealer seems a bit duplicit and not trust worthy. I would indeed be quite wary of such a dealer and not cut him any slack unless he was an outstanding citizen in all things after that.
    "Screw you once, shame on you, screw me twice, shame on me....there won't be a third!"

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment



  • << <i>so I thought we could drive down to a local coin shop and look around and possibly do some trading.


    dealer, coin shop?? sounds like an instant rip to me. To bad for the young collector.
  • AZLARRYAZLARRY Posts: 1,189 ✭✭
    I sell all of my extra's on eBay for this exact reason.
    image
  • morgannut2morgannut2 Posts: 4,293
    I don't see the statement that he couldn't get $15 as a lie necessarily. There could have been a number of past Ebay auctions where his Ikes didn't get $15 when he started them at $.01. Now if he wouldn't pay $15 for an MS65 PCGS certified Ike that's another thing, but basically it looks like this guy is using his storefront to buy "stuff" and wholesale in volume. In other words, he's not really a numismatist--he's more like pawnbroker.
    morgannut2
  • RNCHSNRNCHSN Posts: 2,609 ✭✭✭
    That line about the gold commems......

    You should have offered to buy all he had!
  • MyqqyMyqqy Posts: 9,777
    Obviously, this wanker isn't worth your time. It's embarassing how many wanker coin shop owners are out there... image
    My style is impetuous, my defense is impregnable !
  • CoinHuskerCoinHusker Posts: 5,033 ✭✭✭
    image for my follow-up image
    Collecting coins, medals and currency featuring "The Sower"

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file