Do seasoned dealers on the bourse give the new dealers assistance, or do they try to bury him?

Longacre

I am curious how old, veteran dealers deal with new dealers who show up on the bourse and the coin traveling circuit. I had heard that new dealers should seek out the veterans, and explain that they're new and just learning, and that the veteran dealers are typically quick to help out, throw some transactions toward the new dealer, and otherwise try to help him out. On the other hand, this seems a little too polly-annish, and I suspect that the new dealer would be seen as competition and the old dealers would want to eat him alive (but in a way this does not make sense, because a new dealer really isn't a force to be reckoned with, and what good does it do to try to kill him off?). Does anyone have any experience as a new dealer, and how the first six month's worth of interactions are with the veterans?

FatMan

I think that the new dealers who have come up the ranks and who already have relationships with the veterans are probably treated well. However, the slab pushers who know little about the business and can't grade themselves out of a bag, but think they can, often find themselves six feet under in most transactions. Unfortunately, these wannabes are often not seen as such by uninformed collectors who in turn end up finding themselves buried as the wannabes try to dig themselves out.

Geez, I'm starting to sound like Laura. That scares me.

UtahCoin

Well, I do know that new dealers will get picked over.

Julian

It is all a matter of the new dealers' attitudes and their numismatic expertise. If they are just looking to push product and don't have any idea about what they are selling, it will probably be rough for them. If they have some level of expertise and can evaluate the condition, they will be much better off.

New dealers who take bourse tables and try to deal with the public will also be better treated than telemarketers or internet sellers.

lathmach

I would guess that the old dealers would welcome a "wet behind the ears" newby dealer.
It'd give them a chance to unload their stale inventory onto an unsuspecting wannabe.

Ray

VTCoins

<< <i>I am curious how old, veteran dealers deal with new dealers who show up on the bourse and the coin traveling circuit. I had heard that new dealers should seek out the veterans, and explain that they're new and just learning, and that the veteran dealers are typically quick to help out, throw some transactions toward the new dealer, and otherwise try to help him out. On the other hand, this seems a little too polly-annish, and I suspect that the new dealer would be seen as competition and the old dealers would want to eat him alive (but in a way this does not make sense, because a new dealer really isn't a force to be reckoned with, and what good does it do to try to kill him off?). Does anyone have any experience as a new dealer, and how the first six month's worth of interactions are with the veterans? >>



When I went into business with my father in 1999, I knew next to nothing about coins and even less about how to deal with dealers.

A month after I moved to my father's area, his house burned down and he was out of commission for months. We were committed to set up at a three day show, and I had to handle it on my own. Needless to say, it was a feeding frenzy with the experienced dealers pouncing on the "new guy."

I sold coins way too cheap and I made many, many mistakes over that three day period, but I learned a lot from the experience. I also came home with funds that kept us going for a few months while my father got back on his feet.

coinsomniac

Yisgadal vyiskadash Sheme Rebah.

TomB

They generally pick him apart.

SeaEagleCoins

<< <i>They generally pick him apart. >>




For the most part...so true...it's called tuition...and hopefully they pay attention and learn from it...

Greeniejr

It all depends on the dealer. I have been a full time dealer for about a year, though I have been going to shows for ages and all of the major dealers have known me since I was like 7-8. I think there are dealers out there that will try to take you, however, they are the same ones that would take anyone given the chance. The vast majority of others out there who will treat new dealers fairly (especially those who truly care about the hobby and its future). I know in my case working for a major dealer helps but there are dealers out there who have taken a lot of time to talk to me and answer questions on their specialties. Especially Mike Printz who has helped with Modern Commems in PR70 (-: ................... I mean classics

walkerman

When I first became a dealer and set up a table at FUN in 2001 I was already well known to most of the major dealers.
Dealers like Mike Printz and Larry Whitlow, Larry Shephard, Pinnacle and others had helped me assemble my high end Walker set.
I had no trouble upgrading my set to almost all ms 66 and 67 with a few 65s by selling my duplicates back to them. They seemed happy that I brought the coins back to them. I would have thought it strange if they weren't interested in buying them back.
Thanks to their patience in explaining "the facts of life" I learned the ins and outs of buying and selling high end coins.
The internet was in it's infancy as far as informational websites or forums like this and even though I had been collecting for 40 years I had never joined a coin club.

The dealers I chose to deal with all had the same advice. "A premium quality coin at a premium price is the best bargain of all" "Buy the coin and not the holder" and the one I like best " the worst bargain going is a very bad coin at a very good price".
I have never regretted paying the prices I paid which seemed high at the time.
When I started to sell the walkers in my collection, the dealers were like flies around a honey pot.
They were all elbowing to get first shot at the newbie.
Even though I made some mistakes at that first show and sold some coins too cheap, my coins brought exceptional prices I'm convinced because of their quality. And I learned a lot.
Now that I'm somewhat seasoned I have seen some of my customers decide to set up and give it a try themselves.
It's been a pleasure to try to help them in any way I can.
I don't know of any major dealers that wish a new dealer ill and would not be helpful and cooperative if asked. Dave W




David J Weygant Rare Coins website: www.djwcoin.com

PerryHall

It's a jungle out there. Survival of the fitest.

elwood

<< <i>Do seasoned dealers on the bourse give the new dealers assistance, or do they try to bury him? >>



Both!!

GFourDriver

If it is a new, good looking female, no matter what her experience level, just sit back and watch the dealers falling all over themselves trying to help her out. Kinda like here on the boards.

Geoman

Well, I guess I'll find out first hand on 2 days and report back to you!

I am setting up at my first show on Saturday and have been wondering the same thing. My guess would be a little of both - with some dealers trying to pick me of any under-priced or better coins, while some dealers will be helpful and give solid advice. It will definitely be a learning experience. I also have been collecting for many years and know several of the dealer quite well.

I expect to make some mistakes, but that is part of the learning curve. I know some series well enough, however, being rather new and inexperienced there are several series where I hardly know much at all.

RWB

Do seasoned dealers on the bourse give the new dealers assistance, or do they try to bury him?

This depends a great deal on the type of seasoning. Some prefer very simple combinations such as black pepper, salt and fresh leak. Others may go for one or more Indian curries or the subtleties of Thai.

I feel that most chefs would agree that you can bury a New Dealer or other Progressive only so long before the meat becomes a bit too "gamey" for normal consumption, although often quite tender. At that point, only the most powerful of seasonings will be helpful - red and white pepper, red wine vinegar, bleu cheese for stuffing thin fillets and lots of crushed, sautéed garlic and onion.

Reactionaries don’t get tender except with much buried time, and long boiling and brine. Sliced thin, the meat can be serviceable for large gatherings on the bourse, where it will often be found served along with hot dogs and indigestion.