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Coin Show Report - And a question about dealers and pricing
SeatedLibertyKeys
Posts: 98
I went to the Annual Buffalo NY coin expo today. With roughly 50-75 tables.
I browsed every table. I was looking to purchase ANY semi-key or key Seated half dime, dime, quarter, or half. I ended up purchasing one coin.
Not one tough Seated Half to be found, there was a 52-o, but it had a bad "X" on the reverse. No tough CC's, no early S mints, nothing. There were absolutely no semi key seated quarters. No better date philly, and not even one better date San Francisco. There was one dealer who had a 46-P dime, and I bought it. Certainly no better date half dimes were available.
I also search for better date Barbers. Not one 09-o to be found, and not one 14-s above AG.
Now my question. Almost every dealer had the exact same type of inventory. Endless supplies of Morgans, low grade walkers, low grade common Barbers. Tons of common mercs, bust halves etc....
Why does a dealer even bother to bring a given coin to a show that he knows every other dealer is selling as well? It makes no sense to me. The key is differentiation. If 50 dealers each have a similar coin in a similar grade, and your coin is a washed up piece of junk, then why are you bothering??
Another question. I have been looking for Seated material at these New York shows for just a couple of years. WHEN I happen to find a key such as a 46-P dime, the dealer always prices the coin using greysheet prices.
Now anyone knows that a 46-P dime sells for at least 2, maybe up to 4 times greysheet for a nice example. This dealer today had a REALLY nice 46-P dime in VF, no problems for $360. Needless to say I bought it immediately. It will probably bring $1,000 at auction.
So am I missing something here? Almost every dealer has the really tough coins priced way too low. They have endless supplies of common junk that is not worth their time. How do these dealers get by? I bought a 78-cc half at a show in AG-3 for $375. It went for almost $900 on ebay. They just don't know how to price anything that is in demand.
Anyways, what are your thoughts? I'm not criticizing anyone in particular, because everyone seems to do the same thing. This whole thing is just very strange.
I browsed every table. I was looking to purchase ANY semi-key or key Seated half dime, dime, quarter, or half. I ended up purchasing one coin.
Not one tough Seated Half to be found, there was a 52-o, but it had a bad "X" on the reverse. No tough CC's, no early S mints, nothing. There were absolutely no semi key seated quarters. No better date philly, and not even one better date San Francisco. There was one dealer who had a 46-P dime, and I bought it. Certainly no better date half dimes were available.
I also search for better date Barbers. Not one 09-o to be found, and not one 14-s above AG.
Now my question. Almost every dealer had the exact same type of inventory. Endless supplies of Morgans, low grade walkers, low grade common Barbers. Tons of common mercs, bust halves etc....
Why does a dealer even bother to bring a given coin to a show that he knows every other dealer is selling as well? It makes no sense to me. The key is differentiation. If 50 dealers each have a similar coin in a similar grade, and your coin is a washed up piece of junk, then why are you bothering??
Another question. I have been looking for Seated material at these New York shows for just a couple of years. WHEN I happen to find a key such as a 46-P dime, the dealer always prices the coin using greysheet prices.
Now anyone knows that a 46-P dime sells for at least 2, maybe up to 4 times greysheet for a nice example. This dealer today had a REALLY nice 46-P dime in VF, no problems for $360. Needless to say I bought it immediately. It will probably bring $1,000 at auction.
So am I missing something here? Almost every dealer has the really tough coins priced way too low. They have endless supplies of common junk that is not worth their time. How do these dealers get by? I bought a 78-cc half at a show in AG-3 for $375. It went for almost $900 on ebay. They just don't know how to price anything that is in demand.
Anyways, what are your thoughts? I'm not criticizing anyone in particular, because everyone seems to do the same thing. This whole thing is just very strange.
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Comments
Good for you
Rob
"Those guys weren't Fathers they were...Mothers."
<< <i>
Another question. I have been looking for Seated material at these New York shows for just a couple of years. WHEN I happen to find a key such as a 46-P dime, the dealer always prices the coin using greysheet prices.
Now anyone knows that a 46-P dime sells for at least 2, maybe up to 4 times greysheet for a nice example... >>
Shhh. Just remember that you aren't responsible to educate the dealers.
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