On to something more fun - prices or no prices on dealer stock

halfcentman

OK, not as controversial:

Many dealers feel that putting prices on their coins is a bad idea (I am one of them). They cite the following reasons:

1) Markets change, as does time the item languishes in stock. Having to re-price material is a waste of time.

2) Different people get different prices. Dealers get certain prices. Nice people and/or people who are not abrasive hagglers get certain prices, etc. This way, the dealer has the flexibility to "play the game" that every customer represents without offending them. Funny how "games" always come into the equation.

I think you get the point.

Thanks,

Greg

DaveE

Ask tom Renyolds about pricing coins. He got robbed because they saw how much he had.

halfcentman

Tom is a very good friend of mine. Although there were other factors involved with that incident, that was the primary one.

RichieURich

Here is the prior thread with the debate about visible pricing:
Prices Displayed?

And here are my thoughts on it:

I am a dealer and since 2006, I have a clearly visible written price on just about every coin (raw or slabbed) in my case. Neither I nor my table assistants have the time to quote prices on every coin that someone might be interested in. Marking a price helps the potential customer decide which coins are of interest and the price is "in the ballpark". I have to determine what the price is for every coin; why not put it on the coin so the potential customer can see it?

ram1946

It is my belief and experience that legitimate, knowledgeable dealers put a price on their coins that legitimate, knowledgeable collectors understand and appreciate.

My frustration is with the internet dealer who posts an image with a sticker price clearly visible. However, the selling price is significantly below the sticker price so as to give the illusion to the unsuspecting of getting a bargain. Rarely does that occur.

SamByrd

<< <i>Here is the prior thread with the debate about visible pricing:
Prices Displayed?

And here are my thoughts on it:

I am a dealer and since 2006, I have a clearly visible written price on just about every coin (raw or slabbed) in my case. Neither I nor my table assistants have the time to quote prices on every coin that someone might be interested in. Marking a price helps the potential customer decide which coins are of interest and the price is "in the ballpark". I have to determine what the price is for every coin; why not put it on the coin so the potential customer can see it? >>



I agree. I really hate asking a busy dealer the price of several coins. I much prefer to see a price and I simply figure out what I want to buy and ask the dealer whats the best price on the group. Its very simple and its fast.

PerryHall

<< <i>

<< <i>Here is the prior thread with the debate about visible pricing:
Prices Displayed?

And here are my thoughts on it:

I am a dealer and since 2006, I have a clearly visible written price on just about every coin (raw or slabbed) in my case. Neither I nor my table assistants have the time to quote prices on every coin that someone might be interested in. Marking a price helps the potential customer decide which coins are of interest and the price is "in the ballpark". I have to determine what the price is for every coin; why not put it on the coin so the potential customer can see it? >>



I agree. I really hate asking a busy dealer the price of several coins. I much prefer to see a price and I simply figure out what I want to buy and ask the dealer whats the best price on the group. Its very simple and its fast. >>

TexasNationals

Unless I am really good friends with a dealer, when I see inventory on the INTERNET without prices, I move along. It is a huge PIA to find a 2k coin and spend 2 or 3 days emailing and waiting for a dealer to respond BEFORE the negotiations begin, so I just don't do it anymore. In person and I can ask them right there and get an answer is another story.

If your friends know they get a special price, why not post the price and let your buddies call you at dinner and ask how much to them, otherwise price the inventory.

Dog97

Oh I agree, putting a price on an item you're trying to sell is a very bad idea! Smoebody may buy it!
Talking about playing games...

TheRegulator

As a buyer, I can understand why a dealer may not want to mark a price, but most dealers who do not mark a price tend to have laughably high prices in mind. I usually just move on...

halfcentman

There is something else you need to take into consideration if you are going to put prices on coins, and that's the markup from your bottom line price. It has to be based on what you are willing to tolerate, and if you think that too high a markup is going to dissuade someone from looking at it and/or making a counteroffer.

Frankly, it does not matter to me. If I like the coin, I could care less what's on (or not on) the holder, I am going to ask. I used to be way too concerned about "insulting" the dealer with a counteroffer. Now that I am doing this full-time, that is no longer a concern (different mindset, too complicated to explain). However, I am not going to beat them down and haggle. There is a difference between haggling and negotiating. The former belongs in a flea market, not on a bourse.

Greg

lkeigwin

<< <i>

<< <i>

<< <i>I am a dealer and since 2006, I have a clearly visible written price on just about every coin (raw or slabbed) in my case. Neither I nor my table assistants have the time to quote prices on every coin that someone might be interested in. Marking a price helps the potential customer decide which coins are of interest and the price is "in the ballpark". I have to determine what the price is for every coin; why not put it on the coin so the potential customer can see it? >>

I agree. I really hate asking a busy dealer the price of several coins. I much prefer to see a price and I simply figure out what I want to buy and ask the dealer whats the best price on the group. Its very simple and its fast. >>

>>


Thank you for that!
Lance.

ricko

If the price is not marked, I will walk away. No sense in even starting the process. Cheers, RickO

COALPORTER

Dont most dealers put the price in secret code so they dont have to look it up everytime or keep to many records?

FWIW, i just make an offer first and dont worry about what a dealer wants.

themaster

f the price is not marked, I will walk away. No sense in even starting the process. Cheers, RickO





Have a Great Day!
Louis

LindeDad

<< <i>If the price is not marked, I will walk away. No sense in even starting the process. Cheers, RickO >>

AnkurJ

Having set up as a dealer once, I put prices on the back of the slab. I personally think if someone is truly interested in a coin, they will ask. As a buyer, if I see a coin I like with no clear price listed, I ask.

PerryHall

<< <i>If the price is not marked, I will walk away. No sense in even starting the process. Cheers, RickO >>

PerryHall

This would make a great poll question.

InternetJunky

<< <i>If the price is not marked, I will walk away. No sense in even starting the process. Cheers, RickO >>

mrpotatoheadd

I would encourage everybody to adopt the "no prices- walk away" technique, as it means more buying opportunities for me.

ambro51

"NAME YOUR PRICE"



oh wait, that wouldnt work, would it?

AnkurJ

<< <i>If the price is not marked, I will walk away. No sense in even starting the process. Cheers, RickO >>



What if it's below what you would be willing to pay? You will never know. If you like a coin, I don't understand how you can't ask.

Lakesammman

different mindset, too complicated to explain

Yep - us simpletons posting here wouldn't understand anyway...........

If there's no price, I assume it's NFS and move on.

MadMonk

It really doesn't matter to me. I have no problem asking the price if it is not marked. I also have no problem negotiating, or passing.
One thing I see a lot of newbies do is behave like newbies. Don't ever carry a redbook, or coin mag/price guide with you.
That basically spells sucker to the less savory dealers.
Carry a want list, with your prices in code.

What you should also be aware of is the two grade shuffle.
Writing a 2 point higher grade and price on a coin, and then selling it for a one grade lower price.
So the dealer winds up selling a Fine, marked XF, for VF money. Newbies fall for this crap all the time.
We have a local flea market dealers who do this to the extreme.

DennisH

Having prices posted makes it easier for me to buy, and I'm far more likely to do so. There are several reasons why:

1. If the coin has a realistic price on it in relation to current market levels, it tells me the dealer is in business to sell coins rather than to transport them back and forth from home to shows until a beginner who doesn't know the current market comes along and bites.

2. It allows me to use my time at the show much more productively by giving me key information even if the dealer isn't at their table, or they are busy with someone else.

3. It tells me who I want to go back and see if they aren't there.

4. It gives me a friendly way to introduce myself: "Thank you for having prices on your coins, it really makes the process of trying to cover this entire show much easier and faster."

truthteller

I know a dealer who puts prices on her coins. She never reprices if the market goes up or down. I just pull out the coins I want, then she scratches out the old price while I am still looking and writes the "new improved" price over the old. 99% of the time, I place the coin back in the box. For some reason, the price never goes down.



TRUTH

DennisH

<< <i>I know a dealer who puts prices on her coins. She never reprices if the market goes up or down. I just pull out the coins I want, then she scratches out the old price while I am still looking and writes the "new improved" price over the old. 99% of the time, I place the coin back in the box. For some reason, the price never goes down. >>

Please PM with her name; I'd like to know who I should not waste my time with.

robkool

About 90% of my coins are priced, with the exception of gold coins & bullion. I get better sales doing this.

DRUNNER

My perspective from both sides of the table . .

As a collector, I like to know if I am in the ballpark, so a price on the coin helps me to decide and also helps me to not waste the dealer's time. I value my relationships with them and if I am going to start a negotiation based on a price I see on a 2x2 or slab, I really do plan on buying. It would have to be an inordinate situation for me not to end up with the coin if I start to work on the sale. I use the starting price to determine if I am a player on the coin or not. I think the dealer appreciates that.

As a dealer, I like to present my prices as competitive for the grade, and I want to set myself apart from the others on the bourse floor. I try to cut it as close as I can and show that on a marked price. I will of course know where I have to be on the coin to sell it, but I think it helps the collector to know if he or she can find a way to buy it based on the (ballpark) price I have listed.

It speeds up the process. But, I don't deal in that many 4, 5, or 6 figure coins where a smoking jacket and cherrywood fixtures are a part of the plan.

I do like to see the price, and I think the run-of-the-mill bourse player likes it too.

Drunner

nutmeg

<< <i>

<< <i>If the price is not marked, I will walk away. No sense in even starting the process. Cheers, RickO >>



What if it's below what you would be willing to pay? You will never know. If you like a coin, I don't understand how you can't ask. >>



It's not that difficult to understand. Some people are not aggressive enough to ask prices.
Some just want a simple marked price purchase like at the grocery store without having to "call the department head for a price check".
I usually walk right by unmarked cases because there are enough dealers who do price their stuff.
What also gets me is why does the price have to be written on the back? And how do I even know it's on the back? All I see is no pricing on the front so I pass by the table.

TexasNationals

Bullion is acceptable and a no brainer why they may not price it. If it is bullion then I probally don't have much haggle, negotiation or what ever you want to call it, room to begin with nor do I expect to have a ton of room. Anything worth more that spot+/- a small percent or dollars should be marked or I am walking. My 2 cents again.

SamByrd

try asking a dealer at a show the prices on multiple items at a busy venue its really not easy. I just wont do it anymore. If the coins are marked and I see items I want I will pick out what I may want to buy and either ask what the best price for this group , or I may offer 10 or 15 % less then a reasonable price. I rarely don't buy almost always a dealer is happy to deal a little and have his time free for other customers. Being polite and respectful of the dealer and the other customers helps to get a better price. If the coins are not marked there is many more steps involved the process takes longer.

golfer72

I remember a table at a recent show that had a bunch of nicely toned Jeffersons. No prices listed. I ddint know whether or not they were like say $70 or $300. If they were 70 I may have bought some. I walked away. I at leqast like to know if the prices are in my ballpark or not. You hate to have to ask for a price on eevry coin. Just not efficient. The other thing is I collect many series and cant always remember which date is which price so its nice to see them listed. I would say dealers lose more sales without prices listed than dealers who list. Of course is there is a stack of 1881-S MS-63 Morgans I dont need a price listed on each one either.

droopyd

Just about every time I have had to ask the price of a coin that did not have a marked price, the price quoted was far out of line for what I would have considered reasonable.

jhdfla

I think you pass up opportunities if you walk away from a table where the coins are not priced, for several reasons.

Sometimes the coin is under priced, you would never know if you didn't take the time to ask.

At times the coin is a spectacular example quality wise, and you are making yourself a slave to the sheets (kind of like a horse with blinders), you are not seeing the whole picture. Really nice

coins often command a premium to price guide levels.

secondrepublic

There's something distasteful about not listing prices... as if the dealer wants to size you up before deciding what price to offer you. Kind of like buying a used car, or a rug in a third world country. As someone who doesn't like to spend a lot of time haggling, I prefer to see the listed price and, if appropriate, make a quick counteroffer. The whole price negotiation doesn't take me more than ten seconds.

PerryHall

<< <i>What you should also be aware of is the two grade shuffle.
Writing a 2 point higher grade and price on a coin, and then selling it for a one grade lower price.
So the dealer winds up selling a Fine, marked XF, for VF money. Newbies fall for this crap all the time.
We have a local flea market dealers who do this to the extreme. >>



It's dealer games like this why the third party grading services became so popular with collectors.

PerryHall

<< <i>Just about every time I have had to ask the price of a coin that did not have a marked price, the price quoted was far out of line for what I would have considered reasonable. >>



I've had that same experience. I'm guessing they were too embarrassed to show their asking price.

StubbyMcNumbthumbs

<< <i>
2) Different people get different prices. Dealers get certain prices. Nice people and/or people who are not abrasive hagglers get certain prices, etc. This way, the dealer has the flexibility to "play the game" that every customer represents without offending them. Funny how "games" always come into the equation.

I think you get the point.
>>



This is one of the main reasons I keep walking when I see a dealer with no prices showing. I don't go to a coin show to "play the game", or to be "sized up" for my custom price quotes. I have a certain amount of money to spend and I like to see what a dealer has and see what kind of group I can afford to put together. Whether I have picked out a group of coins or one particular coin, I expect to be quoted the same price that the previous customer or the next customer would be quoted. (Obviously, a deal made behind the table between dealers doesn't apply.)

I felt the same way about gun shows when I collected Winchesters, and I have been on both sides of the table.

Indeed.

DoubleDime

I hate it when I have to ask a price and get the usual answer, "If you have to ask the price, you can't afford the coin".

PerryHall

<< <i>I hate it when I have to ask a price and get the usual answer, "If you have to ask the price, you can't afford the coin". >>



Does he expect you to hand him a blank check? Only a total idiot would insult a potential customer.

Aegis3

Do the responses here reflect more what one is collecting that one's habits?

I mean, if one is say, collecting medalats issued by John A Bolen, she'd have few choices of dealers on a bourse floor and to skip any with unlisted prices would mean she'd possibly be skipping, proportionately speaking, a large portion of what's available for portion. Thinking of a second hypothetical collector, one looking for a VF-EF 1909-S VDB Lincoln. At a large show, he'd be able to find many examples. And thus skipping those unpriced would still mean there are many left for purchase by him, including many nicer or as nice as the unpriced examples.

I'm in the "doesn't matter" camp, and have purchased from both types of dealers.

Hotfootspin

I will ask the price on one coin representative of those I'm interested in, and for which
I've done the research and I know the price spread. If the quoted price is out of line,
I will decline to request prices on the others that might interest me, supposing that those
prices would be out of line also.

Mark

ChrisRx

I appreciate a price on a coin if it is a dealer I don't know (or chatting it up with someone.) But it really is not that big of a deal to me.

ArizonaJack

I always priced my coins, both on my website and at shows. I like to see prices when shopping, it gives me a " feel" for the dealer and a guess if it is worth spending more time at that table.