When a dealer sells a coin to another dealer for the dealer's collection rather than resale, how is
Longacre
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We know as a general rule that dealers do not collect coins so that they do not compete with their clients. There are a few exceptions, such as John Ford, and most recently, Larry Stack auctioned off a collection of notes that he built for years.
I assume it is common knowledge that a particular dealer collects a certain coin or series. Let's suppose that a dealer finds a coin that the collecting-dealer needs for his collection. At what price does the selling dealer sell to the collecting-dealer? Is it closer to a wholesale price, similar to a transaction price if the purchasing dealer had to resell the coin? Or is the sale done at full retail because the selling dealer knows that the collecting-dealer is not buying the coin for resale? We all know there is a gentleman's code among coin dealers whereby a little meat is left on the bone for the next guy as coins go through a series of flips. So that got me wondering if prices are different if the purchasing dealer is buying the coin for his collection rather than resale. Does anyone know?
I assume it is common knowledge that a particular dealer collects a certain coin or series. Let's suppose that a dealer finds a coin that the collecting-dealer needs for his collection. At what price does the selling dealer sell to the collecting-dealer? Is it closer to a wholesale price, similar to a transaction price if the purchasing dealer had to resell the coin? Or is the sale done at full retail because the selling dealer knows that the collecting-dealer is not buying the coin for resale? We all know there is a gentleman's code among coin dealers whereby a little meat is left on the bone for the next guy as coins go through a series of flips. So that got me wondering if prices are different if the purchasing dealer is buying the coin for his collection rather than resale. Does anyone know?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
roadrunner
As far as I know, when dealers buy from or sell to each other, the price is the same whether the coin is for resale or for their own collections.
In fact, about 10 years ago, a dealer told me that he became a coin dealer primarily so that he could buy coins for his own collection at wholesale prices.
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In my sheltered little world I would like to think that dealers who know & respect each other would be courteous enough to sell to each other at cost unless it's a real rarity that one or the other could make a hefty profit from.
If you don't know the other dealer or if they don't have a reputation then retail away.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
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