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What's the deal with multiple dealers offering the same coin?
richardshipp
Posts: 5,647 ✭✭✭
In doing a little cyber-shopping I went to some of my favorite sites and jotted down some notes about a few coins listed.
Then later went on a more wide open search via "collectors corner" looking for specific coins that I'd already jotted down to see what else was out there in the same grade/mm etc.
When I came across coins listed by AUCM that matched up to the ones at one of my favorite dealers sites I was surprised to see that not only was the price quoted the same... but the description of the coin was exactly the same; word for word. Same year, holder, grade, and a word for word match on the description. I found that odd.
Is this some sort of thing where dealers work together to both list the coin in hopes of broadening the market? If so, is that a common thing ? If it is, then how would a "collector" know which dealer actually had possesion of the coin?
Sorry if this is a dumb question.
Then later went on a more wide open search via "collectors corner" looking for specific coins that I'd already jotted down to see what else was out there in the same grade/mm etc.
When I came across coins listed by AUCM that matched up to the ones at one of my favorite dealers sites I was surprised to see that not only was the price quoted the same... but the description of the coin was exactly the same; word for word. Same year, holder, grade, and a word for word match on the description. I found that odd.
Is this some sort of thing where dealers work together to both list the coin in hopes of broadening the market? If so, is that a common thing ? If it is, then how would a "collector" know which dealer actually had possesion of the coin?
Sorry if this is a dumb question.
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Comments
Details! We want details!
I tend to think that the coin physically resides with the dealer who is one of my favorites to keep an eye on. I'm just not sure if this is some sort of arrangement between them to each list it or if maybe it is being done without someones knowledge???
Who knows, but stuff like this gives me pause as a collector.
There are several possibilities including:
1) Dealers partner in purchase of coin, usually reserved for expensive and/or esoteric pieces
2) Dealers are both retail outlets for the owner of the coin, who does not sell retail
3) One of the dealer is the owner, and the other(s) will sell it on consignment
For whatever reason, good or bad, this has always turned me off as a potential buyer. I guess if I like the coin, like the price, etc., the details of who owns it, who is selling it on memo, etc. should not be a significant issue.
Let's take an 1830 Capped Bust Half Dime in PCGS MS65:
First place I found it was at Dick Osburns site HERE
Then later I found it (if it is the same coin) via "collectors corner" listed by AUCM HERE
That is when I posted the OP as it seemed strange... word for word same description, price, holder, year, grade.
Now that I've taken the time to actually go to AUCM's website, I think I see the same coin listed there but at a slightly higher price. You can see that on their page HERE
Again I'd ask... is this a common thing for dealers to do? I'd really like to here from some dealers if possible. Thanks.
<< <i>Again I'd ask... is this a common thing for dealers to do? I'd really like to here from some dealers if possible. Thanks. >>
Yes, it's relatively common for the reasons that RYK has described.
I think it's also been discussed here a lot (though not recently), so you may want to check out the archives and see what you can find.
<< <i>
<< <i>Again I'd ask... is this a common thing for dealers to do? I'd really like to here from some dealers if possible. Thanks. >>
Yes, it's relatively common for the reasons that RYK has described.
I think it's also been discussed here a lot (though not recently), so you may want to check out the archives and see what you can find. >>
Thanks for the response. I just didn't know that this was done and continue to learn.
Since it may be a common practice for multiple dealers to offer the same coin for sale then as a collector sometimes I might call the dealer and ask them to give their verbal description of the coin. What would the non-physical possesion dealer reply? Would they "wing it" or would they say that they don't have physical possession at the moment but could get back with me?
How about this... would it be appropriate for me as a collector to just ask the dealer if they are in physical possesion of the coin or are they listing it for another dealer?
<< <i>Since it may be a common practice for multiple dealers to offer the same coin for sale then as a collector sometimes I might call the dealer and ask them to give their verbal description of the coin. What would the non-physical possesion dealer reply? >>
It depends on the dealer. Some may wing it, some may obfuscate and some may say (for example) "I don't have it here, I own that coin jointly with so and so and he has it."
<< <i>How about this... would it be appropriate for me as a collector to just ask the dealer if they are in physical possesion of the coin or are they listing it for another dealer? >>
I think you should feel free to ask any question you wish, but you should expect that some people may answer your question politely and professionally, and others may have a cow and determine that you are a problem buyer.
It really does depend n the dealer.
<< <i>
<< <i>Since it may be a common practice for multiple dealers to offer the same coin for sale then as a collector sometimes I might call the dealer and ask them to give their verbal description of the coin. What would the non-physical possesion dealer reply? >>
It depends on the dealer. Some may wing it, some may obfuscate and some may say (for example) "I don't have it here, I own that coin jointly with so and so and he has it."
<< <i>How about this... would it be appropriate for me as a collector to just ask the dealer if they are in physical possesion of the coin or are they listing it for another dealer? >>
I think you should feel free to ask any question you wish, but you should expect that some people may answer your question politely and professionally, and others may have a cow and determine that you are a problem buyer.
It really does depend n the dealer. >>
Thanks again for the prompt courteous answers.
<< <i>some people may answer your question politely and professionally, and others may have a cow and determine that you are a problem buyer.
It really does depend n the dealer. >>
In my opinion, any dealer that may "have a cow" when asked a simple valid question would and should be labeled a "Problem Dealer" and avoided.
<< <i>
<< <i>some people may answer your question politely and professionally, and others may have a cow and determine that you are a problem buyer.
It really does depend n the dealer. >>
In my opinion, any dealer that may "have a cow" when asked a simple valid question would and should be labeled a "Problem Dealer" and avoided. >>
Yes.
And I may add most dealers you call and ask will be up frount about the fact that the coin is being offered by more than one dealer.
I today's market one has to expand the exposure of better coins.
"Seu cabra da peste,
"Sou Mangueira......."