Thoughts for the day...
CoinJunkie
Posts: 8,772 ✭✭✭✭✭
Q. What does every coin dealer want most?
A. To buy nice coins that they know they can sell at a profit quickly.
Q. Is it true that the more coins a dealer can sort through, the more likely they are to identify such coins?
A. Of course.
Q. If a dealer would agree to put a little sticker on the coins he'd be willing to buy in exchange for people sending
him coins (at their expense), would that seem like a no-lose proposition for the dealer?
A. Yes.
Q. If a dealer furthermore convinced people to not only pay to send him their nice coins, but also pay $10 a pop
for him to put a sticker on the ones he'd buy, would that not make him a business genius?
A. Yes, it would.
Q. If the dealer actually went so far as to form a corporation with investors and started marketing the concept
heavily, and then said they weren't doing it for the money, should we believe them out of hand?
A. Of course, American corporations always tell the truth.
Q. Would the fact that the dealer is a coin expert and a really nice guy have any bearing on anything?
A. Not really.
Q. But, wouldn't the people sending in the coins be getting value for their money since the coin will be worth more with a sticker?
A. The coin is only worth more with a sticker if the ultimate buyer believes it is.
Q. But, if the dealer is spending a lot of money to convince people that any coin with a sticker IS worth more than
any other at the same grade without a sticker, wouldn't that guarantee that the coin will be worth more?
A. Only as long as people put blind faith in stickers over their own judgments and preferences.
Q. But, if a good friend of the dealer said on the CU forum that the dealer "will usually make a good offer" on a
stickered coin, isn't that a great safety net?
A. (Left as an exercise to the reader)
Q. OK, but supposedly they have standing bids on certain coins, right?
A. Who knows? Nothing has been published.
Q. Look, how many times does the dealer's partner have to tell you that they WILL pay strong money for stickered
coins before you believe them?
A. So why aren't all stickered coins sold back to the dealer as opposed to through Heritage, etc.?
Q. Did you just answer a question with a question?
A. So sue me.
Q. OK, so maybe the dealer is making money at this thing, but he is "giving back" to the numismatic community, right?
A. I don't see evidence that anything is being given away.
Q. But they will sticker a box of coins for free once a year at a show? What about that?
A. Well, considering how little time it actually takes to do that, coupled with the benefits to the dealer in terms of free
advertising (every sticker helps build the brand!) and the increased likelihood of follow-on business it generates, it would
seem like a sound business move, as well. Thus, not a giveaway in a strict sense.
Q. But, again, if the coin comes back with a sticker, then the submitter has made money, right?
A. True, but probably not as much money as the dealer will make every time he buys and sells the coin.
Q. How do you know how much the dealer is making?
A. You don't, but he says he's not doing it for the money, so we have to believe it's not much.
Q. CoinJunkie, you must have some sort of personal vendetta against this coin dealer and/or his partner, right?
A. I don't know either personally. People I trust have said the dealer is a nice guy. I happen to think his partner is
pompous and frequently evasive in print, but I respect him as a coin collector.
Q. CoinJunkie, why are you being such a jerk?
A. Don't mind me, I'm just talking to myself...
0
Comments
A. Don't mind me, I'm just talking to myself...>>
I read that one only, should I bother to read all the other thoughts youve had today, or are you just talking to yourself?