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Took a rare coin to my local B&M the other day....

LakesammmanLakesammman Posts: 17,364 ✭✭✭✭✭
in U.S. Coin Forum
..... just 'cause I thought they might be interested in seeing it.

It's an 1850 Mormon $5.

I was the only customer there. The guy spent less than 2 seconds with it, handed it back and said, "I've heard about those but have never seen one. "

image
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.

Comments

  • mcarney1173mcarney1173 Posts: 911 ✭✭✭✭✭
    I always show dealers rare coins. They're just jealous

    My PCGS Set Registry Profile

  • ColonialCoinUnionColonialCoinUnion Posts: 10,087 ✭✭✭


    << <i>..... just 'cause I thought they might be interested in seeing it.

    It's an 1850 Mormon $5.

    I was the only customer there. The guy spent less than 2 seconds with it, handed it back and said, "I've heard about those but have never seen one. "

    image >>



    If it makes you feel any better, I would have drooled all over it.
    Coin Rarities Online
  • fcfc Posts: 12,793 ✭✭✭
    was this a B&M shop that basically has just moved into selling bullion for the most
    part?
  • LakesammmanLakesammman Posts: 17,364 ✭✭✭✭✭
    was this a B&M shop that basically has just moved into selling bullion for the most

    No, very little bullion - 95% collector type coins.
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭
    Most of the local B&M's here would have done the same-drooled over it and handed it back. Definitely a show/auction coin for the most part.

    I've done the same with a less-rare raw $10.00 Moffat I own... The owner of the shop said "You want me to buy that?!! I couldn't pay you what it's worth."

    At least he was honest image





    Just turned 50 and already with the senility...

    Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1

  • RunnersDadRunnersDad Posts: 1,080 ✭✭✭


    << <i>Most of the local B&M's here would have done the same-drooled over it and handed it back. Definitely a show/auction coin for the most part.

    I've done the same with a less-rare raw $10.00 Bechtler I own... The owner of the shop said "You want me to buy that?!! I couldn't pay you what it's worth."

    At least he was honest image >>



    Lol image
    Mike

    Visit my son's caringbridge page @ Runner's Caringbridge Page

    "To Give Anything Less than Your Best, Is to Sacrifice the Gift" - Steve Prefontaine
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭
    Last time I brought some show-n-tell stuff to a B&M dealer and asked if he wanted to see something I frightened em...

    As when he said yes, I asked if he minded locking the front door for 5 minutes imageimage
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • ArtistArtist Posts: 2,012 ✭✭✭
    I collect CA Fractionals... they are almost non-existent in B&M inventories. If you want to look through circulated type coins, Lincolns by Date, and modern mint issues than B&Ms are great, but if you are into esoteric items, or super high dollar items, (or both, like your coin,) then B&Ms are simply not the right venue.

    When I go to a Willie Nelson concert, I do not expect him to play anything by Tchaikovsky... and even if he did play Tchaikovsky, it probably wouldn't go over too great with his fans.

    image

    image
    >>>My Collection
  • PerryHallPerryHall Posts: 45,992 ✭✭✭✭✭


    << <i>Most of the local B&M's here would have done the same-drooled over it and handed it back. Definitely a show/auction coin for the most part.

    I've done the same with a less-rare raw $10.00 Bechtler I own... The owner of the shop said "You want me to buy that?!! I couldn't pay you what it's worth."

    At least he was honest image >>



    Could we see a pic of your $10 Bechtler? I thought they didn't make anything larger than a $5 denomination.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭


    << <i>

    << <i>Most of the local B&M's here would have done the same-drooled over it and handed it back. Definitely a show/auction coin for the most part.

    I've done the same with a less-rare raw $10.00 Bechtler I own... The owner of the shop said "You want me to buy that?!! I couldn't pay you what it's worth."

    At least he was honest image >>



    Could we see a pic of your $10 Bechtler? I thought they didn't make anything larger than a $5 denomination. >>



    Typo. $10.00 Moffat it is. I will photograph it, hopefully tonight, and post it in a new thread.

    Now I just have to find it image

    Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1

  • BochimanBochiman Posts: 25,361 ✭✭✭✭✭
    Was it Ralph and Chet or was it Steve?

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • melvin289melvin289 Posts: 3,019 ✭
    The owner of the B & M sounds like most of the sports card shop owners back in the early 90's. As long as it's their's it's worth a fortune and worthy of "Your" admiration. If they don't own it then it's trivial and of no interest.

    Ron
    Collect for the love of the hobby, the beauty of the coins, and enjoy the ride.
  • Walkerguy21DWalkerguy21D Posts: 11,394 ✭✭✭✭✭


    << <i>Was it Ralph and Chet or was it Steve? >>


    At least it probably wasn't Chumlee, Big Hoss, or the Old Man image
    Successful BST transactions with 171 members. Ebeneezer, Tonedeaf, Shane6596, Piano1, Ikenefic, RG, PCGSPhoto, stman, Don'tTelltheWife, Boosibri, Ron1968, snowequities, VTchaser, jrt103, SurfinxHI, 78saen, bp777, FHC, RYK, JTHawaii, Opportunity, Kliao, bigtime36, skanderbeg, split37, thebigeng, acloco, Toninginthblood, OKCC, braddick, Coinflip, robcool, fastfreddie, tightbudget, DBSTrader2, nickelsciolist, relaxn, Eagle eye, soldi, silverman68, ElKevvo, sawyerjosh, Schmitz7, talkingwalnut2, konsole, sharkman987, sniocsu, comma, jesbroken, David1234, biosolar, Sullykerry, Moldnut, erwindoc, MichaelDixon, GotTheBug
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I never do that. I learned years ago that anything I own is of passing interest and minimal comment to dealers. Whereas, if it is in their inventory - well - worthy of Smithsonian display. And that includes coins purchased from said dealer in prior years. image Cheers, RickO
  • 291fifth291fifth Posts: 24,284 ✭✭✭✭✭
    His disinterest = "I don't buy 'em unless I can steal 'em. I don't think I can steal it from you."
    All glory is fleeting.
  • BillJonesBillJones Posts: 33,880 ✭✭✭✭✭
    The trouble with Mormon gold and other gold pieces of this ilk is that they are in the back of the Red Book, which most collectors never read, and they are so rare that most collectors never get to see them. They are somewhat like early U.S. coin die varieties which appeal to the specialist collectors, but have little appeal to most people in the hobby.

    I would not laugh at the dealer who replied "You want me to buy that?!! I couldn't pay you what it's worth." Having been a dealer I can tell you that all of them have their niches, and they are wise to stay in them.

    For example years ago I bought the 1805 half dime in PCGS VF-35 from a well known dealer who specializes in early half dollars by Overton variety. He admitted that the coin was sort of an odd ball in his inventory and didn’t really know what to do with it. Ditto for a well known early copper dealer who briefly had a 1792 half disme at an attractive price. As a dealer you have to pick your spots and concentrate on them. If you wonder around too much you business could be headed for disaster.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • questor54questor54 Posts: 1,351 ✭


    << <i>The owner of the B & M sounds like most of the sports card shop owners back in the early 90's. As long as it's their's it's worth a fortune and worthy of "Your" admiration. If they don't own it then it's trivial and of no interest.

    Ron >>



    Exactly. The whole psychological setup in a B&M shop is for the dealer to have superiority - in coins owned, knowledge had, or ready cash (if you have come in to sell something). If you challenge this basic setup, the average B&M dealer has nowhere to go except to try to get the interaction back on track as soon as possible and re-establish their control of the situation.

    It is basically an old style of salesmanship. You also see it done at used car dealers.
  • questor54questor54 Posts: 1,351 ✭
    A more sophisticated (and ultimately more successful) dealer will find some way to compliment the customer: (the following would be edited a bit in real life)

    Customer: "Look at this cool coin I have brought in to show you. I am obviously very proud of it, and rightly so. It is rare and expensive and I sought it out and bought it and now I own it. Did I mention I am proud of it?"

    Dealer: "Wow. That is a GREAT coin. I am so glad to are allowing me to look at it. You have always had a great eye for exceptional coins. I can tell that by some of the coins you have bought from me. I still regret letting some of those go, but at least I know they have been bought by someone who can appreciate true quality."

    Which conversation, this one or the one experienced by the OP, will produce more future sales for the dealer? Honestly, I don't know how some of these B&M guys stay in business. Their wives must work.
  • johnny9434johnny9434 Posts: 28,137 ✭✭✭✭✭


    << <i>His disinterest = "I don't buy 'em unless I can steal 'em. I don't think I can steal it from you." >>



    lmao, that sounds about right ( from some of the dealers ive met thru the years image )
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I've had similar occurences with local shops when I've showed them something rare or unusual that they rarely if ever get in. What I found out that besides being semi-insulted on gem bust and seated type coins ("isn't that coin an AU?"), was that I was educating them and potentially costing myself a lot of money in the rare event something similar ever came in the store. So best to just keep it low key.

    A rare AU Bechtler $5 did come into one of our area shops about 3 yrs ago and the proprietor figured it was fake. The owner wasn't sure what it was worth and just might have bought for a few hundred bucks as a lump of gold if another dealer didn't offer his assistance to both parties. After he did all the legwork and got it back graded from PCGS (wholesale value of $20K+) the owner took it back and was never seen again. My friend was out grading fees and didn't get a dime, never mind a thank you. Sometimes displaying knowledge costs you.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • BillJonesBillJones Posts: 33,880 ✭✭✭✭✭
    Yes, I agree, roadrunner. There is a fine line between being honest and having people use you.

    Your dealer friend should have demanded that the owner of the Bechtler pay all of the grading and shipping expenses up front if he wanted to know if the piece was genuine. The conduction of that owner was just about as bad as the dealer who knows the piece is genuine and pays the melt price for it.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • leothelyonleothelyon Posts: 8,432 ✭✭✭✭✭
    As they say, "money cannot buy friends" or is it happiness?

    But anyway, put enough of your money into that guy's pocket and you will have yourself a talking parrot that won't shut up!


    Leo image

    The more qualities observed in a coin, the more desirable that coin becomes!

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