Have you ever heard a dealer say “don’t buy that coin because all you will do is make me rich (with

Longacre

I encountered almost this exact same statement but in the non-coin context. I was speaking with one of the most preeminent tax lawyers in the country today. I was seeking his written opinion on a particular transaction. As I explained what I was looking for, he told me what he needed to do, and it would cost me $300,000. Then he said, “honestly, you don’t need this opinion from me. All you will be doing is wasting money and making me rich. Just go ahead and do the transaction.”

Needless to say I was shocked. Then I wondered if anyone has encountered this type of reaction in the coin context. Have you ever been willing to purchase a coin and have a dealer broker the trade (let’s say for 10% or whatever the going rate), and that dealer actually tell you not to bother with the coin and all you will be accomplishing is making the dealer rich with the commission? Have you had any other experiences where you were told that the only one who will win on the deal is the dealer and you should not do the transaction?

SanctionII

I have had this same thing happen many times in my law practice (can't say the same for coins though). Many times a client will have a case that presents multiple legal issues. The litigation of same to obtain a decision on the merits from a court or arbitrator will do nothing other than drain the client's resources and capital. This will enrich no one except the lawyers and leave the client, even if he or she wins the case, in a worse position they are in now.

When that happens, I tell my clients to not spend their money on me. New clients I say this to are surprised. Existing clients who have heard it before appreciate the advice.

bidask

L.S. has told me no on certain coins in her inventory several times.

speety

<< <i>L.S. has told me no on certain coins in her inventory several times. >>



Same!

Arizonadesertrat

One dealer that I work with has told me, on two occasions, not to buy certain coins in his inventory.

DaveG

I'd guess that just about everyone who has a good relationship with a dealer has been warned away from a coin or two.

MrEureka

On average, I talk my clients out of at least 80% of the coins they want to buy. Needless to say, I'm more successful as a wholesaler.

pharmer

I knew you'd be in the coin biz after all that free advice last night.

pharmer

Oh, and good luck. Don't forget the free advice that Han Solo gave Luke in episode 4.

ColonialCoinUnion

In my experience, that's not that unusual in numismatics.

Most better dealers will try to sell clients coins that they'll like, and not coins that they won't like. It's just good business. A happy customer is a repeat customer.