When knowing less may be more
shirohniichan
Posts: 4,992 ✭✭✭
I was at one of my favorite dealers today to pick up some bid board wins and to see if he had a choice to gem BU Australia 1944-S florin and/or Philippines 1944-S 50 centavos for a set of 1944-S coins I want to put together a la Spiny.
While I waited I saw the dealer take in a collection of coins, including an album or Canadian silver dollars in AU to BU. He told the customer the set was worth about $1,600 (I'm guessing retail), but that he would give him $900 for it. After the customer left I began to think that maybe at last I could finish my Canadian dollar set. I've been hoping to find a nice EF to AU example for some time.
It turns out the coin is "Gem BU except for some scratches." This means that it has a nice strike, no ugly spots, good luster, etc., but that there are two scratches right on the king's cheek (similar to the parallel sratches in the field of the following coin).
1948 dollar in PCGS MS63 for comparison
The reverse only has minor chatter in the field below the canoe.
Since I knew how much he paid for the lot, I thought he'd offer it to me for $900 and take the AU to BU remainder (all but the 1936) of the set up to 1966 as his profit. He told me it was worth $1,100 to $1,200 but that he'd sell it to me for $1,000.
I've always defended dealers from any collector's assertion that the dealer is only entitled to a 15% to 20% mark up as fair. If the dealer got it for free, who am I to insist he sell it to me for $5? If a customer walked in and declared, "I want $500 for this collection or I'm going somewhere else," that does not mean I should get the key to the set for $600.
Now that I'm in the greedy collectors shoes, I wonder if I should offer him $900.
While I waited I saw the dealer take in a collection of coins, including an album or Canadian silver dollars in AU to BU. He told the customer the set was worth about $1,600 (I'm guessing retail), but that he would give him $900 for it. After the customer left I began to think that maybe at last I could finish my Canadian dollar set. I've been hoping to find a nice EF to AU example for some time.
It turns out the coin is "Gem BU except for some scratches." This means that it has a nice strike, no ugly spots, good luster, etc., but that there are two scratches right on the king's cheek (similar to the parallel sratches in the field of the following coin).
1948 dollar in PCGS MS63 for comparison
The reverse only has minor chatter in the field below the canoe.
Since I knew how much he paid for the lot, I thought he'd offer it to me for $900 and take the AU to BU remainder (all but the 1936) of the set up to 1966 as his profit. He told me it was worth $1,100 to $1,200 but that he'd sell it to me for $1,000.
I've always defended dealers from any collector's assertion that the dealer is only entitled to a 15% to 20% mark up as fair. If the dealer got it for free, who am I to insist he sell it to me for $5? If a customer walked in and declared, "I want $500 for this collection or I'm going somewhere else," that does not mean I should get the key to the set for $600.
Now that I'm in the greedy collectors shoes, I wonder if I should offer him $900.
Obscurum per obscurius
0
Comments
the 1948 being a key.... he would have no trouble selling it anywhere.....
<< <i>What's the rest of the set worth? If the other coins make $600, then the price may be fair. Then again, paying just over 50% of what he'll sell for may be a bit low... >>
The set includes every date and variety in the Whitman album (except the common 1936) in AU to BU, but the 1950 Arnprior has two short but deep scratches on the reverse. All together the rest of the set is probably worth $2,000.
It really doesn't matter that he got $3,000 worth of coins for $900. They're his now, so he's free to sell them to the highest bidder. I'm just frustrated that I'm so greedy and want a bargain.
I'll see if I can arrange to go back with a loupe and my Dansco album to see how the coins would fit into my set.
Obscurum per obscurius
......
......It really doesn't matter that he got $3,000 worth of coins for $900. They're his now, so he's free to sell them to the highest bidder. I'm just frustrated that I'm so greedy and want a bargain.
Even though on principle I agree with you, if your dealer told his customer that his $3K set was worth half as much retail and bought it for $900, it seems to me that he's greedier than you.
PS: Try your best Marlon Brando imitation, put a few cotton balls in your mouth and tell him in a threatening tone, I'm gonna make you an offer you can't refuse .
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<< <i>pay the 1000 and be happy. look at some of the other later dates... 1954 and 1956 among others... these can be harder to get than folks think in 64 and higher. What does the 1945 and 46 look like? >>
I didn't pay much attention to the 1946 since I already have two, but the 1945 looks like it might be an MS63.
Maybe I'll offer him $1,100 for the '45 and '48 together.
Obscurum per obscurius