*****TRADING COINS~~~WHY DO WE NEVER TALK ABOUT THIS???~~~WE ALL DO IT!~~~

ambro51

So Whopee for Me I got the 75 and did it by horsetrading another nice coin. So, this got me to thinking.....I do not recall a thread ever dealing with this very important aspect of numismatic "financing", simply the trading of one $$$$ coin for another $$$$ coin. I really prefer to get coins in this manner, and Im sure im not the only one.

Are YOU a Horse trader????

RYK

In the past, I was more adept and inclined to do this. What I learned is the following:

1. You usually get a better purchase price if you buy the coin and sell the coin you would otherwise trade, on your own. Often, you net more cash on both sides of the transaction (buying and selling).

2. Dealers are not very inclined to trade on their brand new, primo inventory (unless they are getting your goods at an extreme bargain).

3. Cash is king. A trade is a distant second, perhaps tied with layaway.

291fifth

Cash is always king.

doh

Cash is always king, but that being said, I've gotten some pretty nice coins via straight up trade including this:



I agree with RYK though, usually you can do better by selling a coin right outright and using the cash to buy another coin you want.

lkeigwin

I always bring a box of coins to every show. Whatever I am ready to part with. If I don't like the dealer's offer I don't trade.

I am surprised by how few trades are posted to BST. I put up a few nice coins a week ago with asking prices and a willingness to trade. The coins sold quickly but no one talked trade.
Lance.

erwindoc

I try trading all the time, but most dealers are unwilling or want only cash. I have had a few trades with other members and they have worked out well. I think it is a good way to work, as long as it is fair to both parties.

LindeDad

There has to be the mutual want of something the other has for it to work between collectors plus a mutual trust too.
I think probably dealers do it to move stale inventory or items that they don't specialize in more often than they let us know.

As for your question only been able to make one trade, but I have done a lot of haggling on prices both buying and selling.

crypto79

I buy space fillers for my sets and upgrade as they come along. I have traded on most of my big $$$$$ coins as a way to chip at the price. I have only paid more the a grand a half a dozen times in straight cash. That being said I do some times pay cash and sell a coin on ebay because it is clear the the dealer just doesn't want the bait and even when they do you have to pay full retail and work on the trading price side of the deal only. If you try to nickel them on both sides you wount make many friends.

TwoSides2aCoin

Trading is interactive. Some humans are afraid of that. Not me. I like it.

Sonorandesertrat

I have had no problem trading coins with dealers. You need to bring to the table coins that they think they can sell quickly, much more quickly than the coin you want. Right now, slabbed generic gold will work for many dealers because they cannot keep this stuff in stock. However, don't expect to get an 'even' trade---dealers have to make a living and will expect to make money off of everything that leaves their inventories.

DrBuster

I'd trade my artwork/paintings for coins or bullion in a heartbeat. Actually been contemplating throwing a bst thread up about that to see if anyone would be interested.

ambro51

I think trading, if you have the right kind of coins to trade...can be an emotional, fun, quick way to add a nice coin. Ive traded often with dealers, and have had very enjoyable times. Quick decisions, easy transactions. But...you have to have something they are going to want. I think it works much better the higher the value the coins are.

BigE

You also have to take a selection of coins so you have an item to swap that the other person likes to deal in. Don't try to trade in a early commem. to a copper dealer----------BigE

MICHAELDIXON

I trade often and would prefer to trade. The problem I find is that collectors see your coin priced at ask, say $500. and they want to trade you their coin priced at PCGS Price Guide, say $700. I can only trade for what I can sell their coin for and sometimes it offends them. I'll explain we can trade at ask for ask or bid for bid, but many don't understand the concept. They think their coin is worth what the price guides say and never look at what the price guides say my coin is worth. It becomes frustrating.

kryptonitecomics

I have done 1 coin trade in my life and it was with Rainbowroosie only becuase he saw a coin in my collection he really wanted and when I told him it wasn't for sale he kept stacking coins on the table until I just couldn't say no anymore

ricko

I do not trade coins and I do not sell them. They are my coins, purchased because I like them. They will remain so. Cheers, RickO

coinguy1

<< <i>I do not trade coins and I do not sell them. They are my coins, purchased because I like them. They will remain so. Cheers, RickO >>

But what if they tone?

BECOKA

I did a great trade with Legend which was the only way I could afford one of the best coins I ever purchased. I feel I got a fair price for the trade coins as well.

liefgold

I agree with what several have said. Cash is king!! In most trades I have tried the dealer wants to buy at wholesale less 10% and sell at retail plus 10%.

ambro51

.....and guess who has seen a LOT of my Cash, eh. lamont ????

bidask

I have traded in coins to a dealer that I purchased from the same dealer. Sometimes for a loss, sometimes for the same price.

I rarely have traded coins I purchaed from one dealer to a different dealer.

Unknown

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RedTiger

I have never traded a coin, probably never will. Trading gives a bigger advantage to the more experienced negotiator in the transaction. 90% of the time that will be the dealer. For those 10% or so, of collectors that are great at wheeling and dealing, I'm happy for you, but I'm not in that group. I would likely be in bottom 20% in terms of negotiating skill. Given those parameters, trading is something I will stay far away from and for good reason.

GrumpyEd

I find it works best if you're trading up, cash plus a trade in.

JRocco

Many of the coins in my collection were traded for.

Musky1011

Trading= no taxes, no government knowledge

PerryHall

<< <i>Trading= no taxes, no government knowledge >>



You could say the same about a cash transaction.

StubbyMcNumbthumbs

Funny how nearly everyone responding to this post has assumed the OP was talking about trading with a dealer. He never mentioned a dealer. I have made some good trades with other collectors. Of course, nearly any trade with a dealer is going to result in coming out on the short end of the stick. That's in any area, not just coins.

I assumed the OP was talking about trades between collectors where both parties are happy with the outcome.
Any responses about those types of trades?

sinin1

When I go to a big show, I carry cash and some tradables


if there is something I really like, and out of my cash on hand range, I see if we can make a trade


it frequently gets me a coin I would have stretched for - and they get one/some of my tradables

and many times works out better for me than a straight sale for me somewhere else and then total cash for purchase

SamByrd

I for one have traded quite a bit working on my various sets. Here on the BST is really a good resource for trades, I too am surprised more don't trade on the BST. My experience has been very good and problem free.

As a kid I did trade often with a small dealer near where I live He must be dead by now that was 30 years back and he was old then. He always treated me very fair. Many dealers will work with you though at least thats been my experience.

AngryTurtle

<< <i>I have never traded a coin, probably never will. Trading gives a bigger advantage to the more experienced negotiator in the transaction. 90% of the time that will be the dealer. For those 10% or so, of collectors that are great at wheeling and dealing, I'm happy for you, but I'm not in that group. I would likely be in bottom 20% in terms of negotiating skill. Given those parameters, trading is something I will stay far away from and for good reason. >>



I agree. every time I have traded, I come out feeling like I have just been in an Oriental Bazaar and not come out the best for it.

I dont completely understand this though, as one thing I think collectors dont fully appreciate is that selling coins is only half the battle, as there is no factory you can call up and order a few dozen more rarities. At least I hope not!

lordmarcovan

<< <i>I got the 75 >>

75 what?


RYK's three points are definitely valid and are probably carved in stone somewhere.



<< <i>In the past, I was more adept and inclined to do this. What I learned is the following:

1. You usually get a better purchase price if you buy the coin and sell the coin you would otherwise trade, on your own. Often, you net more cash on both sides of the transaction (buying and selling).

2. Dealers are not very inclined to trade on their brand new, primo inventory (unless they are getting your goods at an extreme bargain).

3. Cash is king. A trade is a distant second, perhaps tied with layaway. >>




HOWEVER, I love trading. Perhaps I learned to be adept at it because it is sometimes the poor man's best way to acquire coins. I've done well with it over the years, too. And the sellers who are actually willing to horse trade or engage in some friendly haggling are the ones who are far more likely to get my repeat business.

It's a difficult balance to strike when offering trades or haggling with someone, though- you want to get as advantageous a deal as possible, but you don't want to come off as a pain in the arse.