What does a group of affiliated dealers at www.coinstocash.com do for you that an individual dealer

Longacre

I was taking a look at the recent CW, and there was an advertisement for Jeff Garrett's new enterprise, called www.coinstocash.com. The website is below. It seems to be a nation-wide network of affiliated dealers who will buy your coins and convert them quickly to cash. In these trying times, perhaps this is a good idea.

Although I think it is a swell business model, I am wondering what benefits this organization really gives to collectors, that an individual dealer cannot. What do you think? Is it better to have a one-stop-selling location through this network, rather than trying to find the best prices youself? They had a pretty snazzy looking ad in CW that caught my attention, though.

Here is the link to the website.

mrpotatoheadd

<< <i>...I am wondering what benefits this organization really gives to collectors, that an individual dealer cannot. >>

There's a "Contact Us" link on the website- you could ask them and get an answer straight from the horse's mouth. It would be interesting to hear what they had to say- I hope you'll post their reply to your inquiry here.

SeaEagleCoins

Well...another hit and run "methodically socratic" ponderous conundrum is offered for our consideration...

Hmmm...I'm bored so I took a look at the website and then followed one of their links to what I assume is one of the affiliates...

1st thing I noted was a 1909 VDB in PCGS 65RD... PCGS price guide says $240 in red... the asking price on the website... $450... if they have comparably strong buy prices then they might be the way to go...

...but if they are offering 10-20% behind Grey Sheet, I'd have NO use for them what-so-ever...

adamlaneus

I say that 'coinstocash' adds nothing over what an individual dealer adds.

If you are time pressured and behind the eight ball, be prepared to be skinned on the price for your coins. The fact that you have one dealer skinning you on your immediate need for money versus a dealer network makes no difference in the check you are cut. However, it makes a big difference on their end, getting the right coins into the hands of the right dealer to resell for the most profit. That's good for the dealers to get coins into the hands of specialists. I will never buy the argument that this benefit is trickled down to the seller who needs a check cut right now.

The applicable saying here is "time is money". If you have no time, expect to lose money on this transaction. It's all about time and nothing about the size of the dealer network.

It seems to me that we already have 'one stop shops' for selling coins. The auction houses.

But if you insist on selling a whole lot of coins site-unseen or glance-only to a dealer or a dealer network, I see no potential in the network being better than the individual. In my opinion, the dealer network is less likely to take the time to give you a fair price.

And any business with the word <whatever>tocash and all such close derivatives makes me cringe at a gut level.

I, too, would be interested what they have to say only because I would enjoy twisting their words to conform to by unalterable beliefs on this issue.