Do you dread walking into a dealers store to sell a coin?

coinsomniac

Not necessarily because of the price he may offer, but because of the head shake, the negative assessment of the coin, and the monologue about the poor shape of the coin market? Can't these fellas just come up with a price and leave it at that?

UtahCoin

Sounds like you're going to the wrong dealer. Bring a nice coin to me and I oooohh & aaawwwww over it.

TwoSides2aCoin

I usually go into a dealer's store to buy one, but that's just me

fivecents

<< <i>Can't these fellas just come up with a price and leave it at that >>

You know the worse the dealer diss's your coin, the lower the lowball offer will be.

coinsomniac

I have a specialty item that I think that a specialty dealer in this town would be interested in (Non coin item but he is also a coin dealer). His attitude stinks whether he is buying or selling, so I will just list it on Ebay.

Doogy

i don't sell to the local Phoenix dealers. they are too used to low-balling old ladies that are selling off their deceased husband's collection, and in turn, they try that crap with me. I prefer to sell via ebay, TT, these boards and major auction houses.

jimmymac

have local dealer here in town that I tried - every time I've walked in I get the cold shoulder - try to strike up a conversation with him about coins (buying & selling) and its a one word monologue - purchased a few coins from him, but not going back - dont feel comfortable with him - maybe he doesnt realize that Im a paying customer and his attitude is hurting his business - oh well, there's always ebay, teletrade and HA to satisfy my cravings.

seemyauction

Clever answer to the dealer that starts the negative assessment of the coin.


Wow PCGS charges 15 bucks (or what ever it costs to get a coin in a slab) for there opinion, and you are giving me yours FREE?


AL

Longacre

I showed coins to a rather large local dealer (he attends the major shows). The coins that I purchase are from someone who is widely regarded as an industry expert in my series. The local dealer always goes on and on about how awful my coins are, what pigs they are, how they lack eye appeal, etc., etc. His offering prices are also very low. I stopped showing him coins.

Steve27

"Do you dread walking into a dealers store to sell a coin?"

Nope, I never go there to buy or sell coins.

Cladiator

eBay

TwoSides2aCoin

Always take donuts !

cmerlo1

Apologies to my friends on the forum who are dealers- I've never sold to anyone here, but since I was a kid, I've never had a good experience selling to dealers, for coinsomniac's exact reasons. That is why I only sell online. At shows, all I hear are grumpy dealers talking about how awful the market is, how awful slabbing coins is, and how wrong the grades on them are, as customers browse their slab-filled cases...I don't see a lot of customer-service from many of the dealers at the shows around here, either. Many times, it's the same for buying or selling- 'take it or leave it- I don't care either way.' The market must not be that bad if you can treat customers badly and still make sales...

tahoe98

<< <i>I usually go into a dealer's store to buy one, but that's just me >>



that's the way i work it too.

Barry

I was at a local show over the weekend. Showed a few raw coins to one of the dealers in attendance. When I told him his offer wasn't even in the ballpark, he said that if I think the coins are MS, they're not - they're all sliders. Sure...

mrearlygold

Coin dealers are evil. Collectors are wholesome and pure.

oxy8890

If the offer is too low, just say no.

rmoss

Never sold a coin to a dealer. No disrespect to all the decent dealers that are out there. When I was collecting sports cards in the mid 80's I learned you couldn't even trade with the dealers. When the dealer has it and you want it, it's worth a fortune. If you have it and the dealers wants it, it's crap.

BAJJERFAN

<< <i>I was at a local show over the weekend. Showed a few raw coins to one of the dealers in attendance. When I told him his offer wasn't even in the ballpark, he said that if I think the coins are MS, they're not - they're all sliders. Sure... >>



You shudda said "Yah, but they weren't sliders when I bought them from you". Then say A$$hole and turn around and leave.

Keleum

And here I thought it was just me. There's a 1/2 dozen coin shops in my area, and only one really gave me the time of day. A few, I've caught giving me different stories, each time I walk in.

kevinstang

I also went to a local show this weekend, was browsing at a table when an older gentleman with a cane and his wife walked up to the table with a couple of Dansco albums. Seems the guy had a complete set of Indians and Lincolns, including the keys, I listened on as the dealer put down everyone of his coins and told him there was very little demand. Even told him that the lincoln set didn't have the 55 double die- the key to the series so it wasn't complete. I ddin't catch the dealers intial offer, but I heard the older gentleman say he was expecting an offer of around $3-$4K for the two sets, the dealer was just laughing at him and I heard him say, "I might give you a thousand but I would have to look them over better". The old guy started to walk away and the dealer then asked him what he wanted for the S-VDB and other keys. I was glad to hear the old guy say sorry, I don't want to break the sets up and walk on. Wished I could have had a look at what was there and the condition. Kind of made me feel ashamed of the hobby- the old guy probably spent his lifetime putting together the sets, only to be told his coins weren't that pretty and were really not worth much to the dealer- Yeah right.

coinsomniac

I walked into a medium sized local show 2 years ago. At the first table, a dealer mentioned over his cell phone that he had just bought a group of early Dollars at 20% back of bid. He then went on for an undetermined amount of time on his phone, about how slow the show was. I stood there for about 15 minutes waiting for the call to end so that I could look at the Dollars. Though dressed in slob casual, I had a pocketful of cash and would have eagerly paid bid plus, for many of the coin. I finally walked away shaking my head.

I never went back to the table as the guy really did not deserve the business.

Newcomp103

I have never had a dealer say anything negative about any coin I've sold. Is that because I have a natural instinct and avoid that type of dealer? Possibly....I usually have pretty good experiences selling to dealers. (I'm sure I probably just jinxed myself )

coinsomniac

The smart dealer would rave about the coin and then offer his price. That way, you cannot debate the condition with him, only the price offered.

mhammerman

Interesting topic...It's hard to sell to a dealer in his B&M because you don't know what his inventory is, you don't know his cash situation, there are so many things that could impact a deal and there is no way a seller would know, just walking in. If you call a dealer ahead and ask if he wants what ever you are selling, you will find out quickly and avoid any disappointment you might face if you go there before you call. Sometimes, they will even give you a ball park price if they are slabbed by one of the big boys. Always call first, saves everybody a lot of time and emotion.

Ebay scares the heck out of me, with the pay pal exposure and the ebay BS people talk about here on the forums and I loathe having to deal with the public where money is involved. If you don't have enough to auction or work out a private sale for then it is best to just wait for a show. If you wait for a show you will have a room full of dealers of every type of coin you could want and they are there to deal and if your stuff is riteous or even PQ, you can usually get pretty fair money and you could even have more than one offer. If it is just average coins then maybe you can work a trade for something a dealer has that you might want to get and at the same time, minimize your pain by getting the trade piece at a discount. Of course, you have to have a pretty good idea of what you can get for your stuff and what the trade item should cost you if you were to buy it somewhere else...just have some kind of ball park feel for the money, the final numbers may be negotiable. Always trade up, don't trade something nice for a bunch of lesser stuff, trade a bunch of lesser stuff for something nice.

JMHO

Coin ON!

Scavenger

Once in a while in coin or pawn shops I'll be in there when someone comes in with something to sell. What amazes me is when they give these people a ridiculous lowball offer, they sometimes accept. Recently a man walked in to a pawn shop with a beautiful 30-30 Winchester Commemorative rifle. After he accepted $75.00 for the rifle, he told the guy, I've got some more in the trunk let me go get them. I was tempted to follow him out and make a legitimate offer but I waited. He came back a few minutes later with a John Wayne and a Golden Spike Commemorative. He sold all three rifles for $250.00. The John Wayne alone is worth $2000.00. Unbelievable.

Geoman

The local dealer always goes on and on about how awful my coins are, what pigs they are, how they lack eye appeal, etc., etc. His offering prices are also very low. I stopped showing him coins.

Pretty much the same thing here. However, I live in a smaller town where there is only one coin dealer. So I am sort of stuck if I want to bring in some coins to sell. After the last issue with him (telling me how overgraded my coin was, even though it was in a PCGS holder) and then selling it as "accurately graded" I decided finally NOT to go back to him and do any more business with him. All I want is a straight answer and a straight price quote. Don't give me a sob story along with it to justify why you are low-balling me. I would rather have him tell me this is my best price (without a long story and telling me how overgraded my coins are) and I can just take it or pass.

Now, I finally found a few dealers, without store fronts, that I will drive 2 hours to when I sell my coins. His loss.

Saving4thefuture

Just post them on here!!!

lonelyp

<< <i>I usually go into a dealer's store to buy one, but that's just me
>>




No it's not. It's me too.

I have 1 shop I go to. I only know of 2 other shops, 1 I have never been in.
The shop I use now and then, sells metal detectors, coins, and bullion. Has been there as long as I can remember. The owner sent my first 3 Silver ASE anniversary sets in to PCGS for me. When I was picking up my sets, I brought in a 1881 Half Eagle, and asked his oppion of it. He said it looks BU but felt it would only grade AU58 because of some distracting marks it has. This was disapointing to me as I paid BU money for it. I decided to leave it raw. I can't say if he was trying to low ball me or not. Thing is I agreed with what he said.
My feeling is this is a good shop. Even if I don't do great amounts of buying there. Nor have I tried to sell any coins to the guy.

stman

Whether walking into a dealers store, or having the pleasure of seeing them at a show it's always been a positive experience and an honor for me. You folks need to enjoy the hobby and everything about it. Much too negative.

PerryHall

When going into a B&M coin shop to sell a coin, suggest taking some K-Y to make the whole experience a little less painful.

BBQnBLUES

<< <i>Sounds like you're going to the wrong dealer. Bring a nice coin to me and I oooohh & aaawwwww over it. >>


Wess; You'd be the _Only dealer I would trust to give a realistic appraisal..

UtahCoin

<< <i>

<< <i>Sounds like you're going to the wrong dealer. Bring a nice coin to me and I oooohh & aaawwwww over it. >>


Wess; You'd be the _Only dealer I would trust to give a realistic appraisal.. >>



Thanks!
Ship me coins! I need the business..

ebaytrader

<< <i>Coin dealers are evil. Collectors are wholesome and pure.

>>

BAJJERFAN

I can understand how some coins might not be very liquid for some dealers, but if you know the worth of what you have, you can't get screwed unless you want to be screwed.

orie

The last time I went to a shop the sell coins, all slabbed. He bought six for may asking price and the one he didn't buy was dang ugly. I think it's a function of knowing the value going in. Not wholesale and not retail, but a spot where he can make a buck.

Lakesammman

Why would you offer it at the store when there are millions of prospective buyers on-line??

woodwalker

I like to think of it as a challenge. And I rarely take the first offer seriously.

ILikeMercs

<< <i>I have a specialty item that I think that a specialty dealer in this town would be interested in (Non coin item but he is also a coin dealer). His attitude stinks whether he is buying or selling, so I will just list it on Ebay. >>




the guy on Oracle and Ina said he wouldn't make me an offer on my high grade proof Mercs because he DIDN'T want to lowball me. He said they're pretty much unmovable in Tucson. I respected him for that.

roadrunner

B&M shops work on 20-90% profit as a rule. And closer to the 90% than the 20% on average. I stopped showing coins for sale to my local B&M's long ago because they cannot pay as strongly as wholesalers and large bourse dealers. They just cannot and usually will not. I also felt that I was educating my local dealers by showing them stuff they normally don't see. And then I see them shake their head saying, "that's MS65?......I would have graded in AU!" Now when a comparable specimen shows up in their shop someday, that little show and tell will cost me. We are under no obligation to upgrade the skills of our local dealers. Nor can I say a local shop ever helped me learn to grade better....other than selling me mistakes to "learn" from on my own. I can't even recall the last time I sold a coin to a B&M shop that was not bullion. My selling or early learning experiences border on the mostly negative with local shops....yours may vary.

roadrunner

TwoSides2aCoin

The dealer...
He is not a crook. He is a business man and it's a tough grind with the exposure we get from prices we see on ebay, and on the BST. We get the inside scoop. My friends offline can't figure out how I learn so much about coins, and around here, I feel so stupid. . Even dealers shake their head at me when I challenge them on grades of raw coins. I don't want to fight, I just learned so much here and there. Books teach, pictures teach and attitudes teach and looking at coins teaches.

Use your skills for the hunt. Score the right coins and you will NOT want to sell them at all.

Shamika

I sold quite a few coins to Northeast Numismatics some time ago and I was very happy with the transaction. They either wanted the coin or they didn't and they made a fair offer. We haggled for a little while, but they were very respectful during the transaction.

BAJJERFAN

<< <i>I sold quite a few coins to Northeast Numismatics some time ago and I was very happy with the transaction. They either wanted the coin or they didn't and they made a fair offer. We haggled for a little while, but they were very respectful during the transaction. >>



One of the easier ones to deal with.

originalisbest

The good dealers can usually be counted on your hands - no toes need be involved. I'm happy I know a few.

Fairlaneman

Dread walking in. Not at all.

This one guy that I have know for 20 plus years and myself usually have a great time when coins are taken in to be sold. Usually I walk in with two PCGS boxes with coins in them. I'll open up one box and flip a coin at him. If he says the coin is overgraded I reply with thats a bunch of Poo. If he insists its overgraded I reply again and say thats Poo Poo and then rip the coin out of his hand and put it back in the box and then put the lid on the box. Then another subject is talked about untill he finally can't take it anymore and asks to see the other coins. Depending on my mood,after getting the old overgraded treatment,he may or maynot see anymore coins. Usually he does see more coins and in the end he is happy and I am happy. During the years I have known him it has always been a pleasure to go see him for selling, buying or just to BS.

Wish I could say the same about other dealers I have run into.

Ken

oxy8890

<< <i>And here I thought it was just me. There's a 1/2 dozen coin shops in my area, and only one really gave me the time of day. A few, I've caught giving me different stories, each time I walk in. >>



Those types of sellers always make me laugh. I don't know why they bother. It is so hard to keep the story straight when you lie.

I have 2 recent stories regarding this:

First, At the last Long Beach show I was trying to buy a buffalo nickel for my type set. There was a fairly nice MS66 and I aked for a price. They gave me a price of $300 and it was $50 more than I was willing to spend. I explained that it was a little rich for me. The guy explained that they were really "in this coin heavy" and were only making $10. Then another guy came and said they would be willing to "get it out of their inventory at $260 but they were only making $10" Then they asked me if we were close.
I said we were $10 away. They explained that they were at "rock bottom" but they would "ask the owner". The 3rd guy who was a little older and at the other end of the booth was then consulted, when he heard $250 he rolled his eyes and said they only had $10 in it at that price. I KID YOU NOT!

I was with a college buddy and he just started laughing. He turned to me a said "If we can get a few more guys in this booth, then wait around for a few minutes the price on this coin should drop to $50 AND THEY WILL STILL BE MAKING $10!


Second, I ran into a dealer at the Santa Clara show earlier this year. She was selling Lincolns. Most of her coins were 30-50% over PCGS book! I asked her why they were so expensive? She said that PCGS pennies were easy to sell and hard to get. She then explained that she was more than willing to pay PCGS book and was always looking for inventory.

I returned to the show the next day with 250 slabbed PCGS pennies. I had a price sheet for her and my prices were between 50-70% of PCGS book. She then told me she never paid more than a FRACTION OF GREYSHEET! Those that where not on greysheet she would divide out into roll price!?!?! She went on to say that we had a misunderstanding. She was absolutely right. She never expected me to approach her as a seller. Needless to say, I won't have to worry about that again. I will take my business elsewhere.

My point to all this is: I am rarely behind a table but when I am, as a dealer, I am ready to back up anything I say. I will tell people what I am able to pay. If they pull out a group of coins, I will buy it given the parameters I explained or offer to purchase a fraction of it if I am unable to cover the entire lot.

As for me as a collector, there are far too many accountable dealers out there who are honest that I would rather do business with.

mirabela

I don't dread it at all. I don't do it very often, but when I do it usually goes fine, because I only bother doing this with the two guys I know who are fair in both directions. It usually goes like this -- Me: "Here. I want $X for it." Him: "Okay" or "I don't think I can do that."

That's about as complicated as it ever gets. Why bother with the other guys?

roadrunner

In my earlier years I always dreaded going back to sell coins from the dealer I got them from. In most cases I learned what the answer would be:

"I have too many of those right now sorry."
"I didn't sell you that!"
"I'm a little low on cash right now."
"The grading has changed on those."
"The market is way down on that, I have no buyers."

I learned this lesson with EVERY shop I ever dealt with. And I took that to mean they don't want their crap back, and certainly not at 60-80% of retail. They want it back at 10-30c on the dollar, from someone else instead.

This is why I always dreaded going back to the orig seller. That's probably why to this day that I rarely if ever go back to the orig seller of anything of buy. Part is pre-conditioned and the other half is that most really don't want 95% of those coins back at fair prices regardless of what they say. Sure, if you have the creme de la creme with low prices, they'll welcome you back with open arms. There are of course exeptions to the above such as large dealers who run huge volume of smaller margins at the larger shows.

roadrunner

KollectorKing

I have no problems selling coins to the following dealers, in no particular order:

- John Mc Intosh

- JJ Teaparty

- Northeast Numismatics

- PQ Dollars

- Alpine Numismatics

BlindedByEgo

<< <i>I sold quite a few coins to Northeast Numismatics some time ago and I was very happy with the transaction. They either wanted the coin or they didn't and they made a fair offer. We haggled for a little while, but they were very respectful during the transaction. >>



I sold some gold to them at the last LB show - some they wanted, some they didn't. They offered, I countered. Struck a deal and we parted happy. Good guys.

The local dealer here is a friend, and I buy quite a bit from him. He gives me a price, I counter with what I feel is fair, and we strike a deal or not. We part friends every time. He has sold me coins where in subsequent years he has offered to buy them back strong, because he has a customer request.

Finding a good local dealer to trust and respect is hard - and woth its' weight in gold.

lordmarcovan

<< <i>Do you dread walking into a dealers store to sell a coin? >>

No, because I've pretty much quit doing it. I sell 'em myself, either on BST here, or on eBay.

Sometimes, however, in the rare event that I'm in another dealer's shop, I might offer "trade-ins" of my own towards what I am buying from him.

PS- if you're tired of dealers lowballing and pointing out every flaw on your coin (especially if they were described as lovely when you bought them from him!), I can respect your pain. I don't fault a dealer for trying to make a buck, and I know ownership of a coin adds 1.5 grade points, but sometimes the second-guessing and fault-finding are annoying. What's semi-ironic is that I have had my better slabbed coins second-guessed and nitpicked more often than the raw ones!

Sometimes it's best to just sell your own coins to maximize your own return. A dealer won't sneer at your paper money, if it is green and spendable.

I learned this even before I had access to eBay and the Internet. In those olden days before my digital transformation, I often used the Numismatic News classifieds.