What discount do you expect when purchasing coins from a coin dealer?

llafoe

When you purchase coins from a dealer, what percent discount do you expect (on average, in general)?

SmallEagle

Discount from what?

JamesMurray

I've long since come to expect a whopping 0 % discount , there are times when haggling a bit might knock a few bucks off but i don't expect anything from a dealer but courtesy and honesty.

Steve

Stupid question. First thing you need to know FOR SURE is what is the true fair value of the coin. Most collectors who are not very knowledgeable in the dealings of the coin market do not know this. The % of the asking price you should pay is the % of that true value. I doubt very much if a knowledgeable dealer would offer a coin at less than its true fair value. Good luck. Steve

relicsncoins

I never expect anything. If I can get a coin for less than the original asking price then I'm happy, but I certainly don't expect it.

airplanenut

I don't expect anything. I expect that when I ask for the best price, that's what I'll get, and the ball is then in my court to decide if I like the coin at that price.

llafoe

<< <i>Stupid question. First thing you need to know FOR SURE is what is the true fair value of the coin. Most collectors who are not very knowledgeable in the dealings of the coin market do not know this. The % of the asking price you should pay is the % of that true value. I doubt very much if a knowledgeable dealer would offer a coin at less than its true fair value. Good luck. Steve >>



Someone didn't pay attention in school... or just likes to belittle people.

The reason I asked, I purchased a few coins lately and each time the dealer offered me a price less than their asking price. It made me wonder if dealers automatically expect to sell their coins at a predetermined discount and/or use it as a tool to market/sell their coins.

JamesMurray

<< <i>

<< <i>Stupid question. First thing you need to know FOR SURE is what is the true fair value of the coin. Most collectors who are not very knowledgeable in the dealings of the coin market do not know this. The % of the asking price you should pay is the % of that true value. I doubt very much if a knowledgeable dealer would offer a coin at less than its true fair value. Good luck. Steve >>



Someone didn't pay attention in school... or just likes to belittle people.

The reason I asked, I purchased a few coins lately and each time the dealer offered me a price less than their asking price. It made me wonder if dealers automatically expect to sell their coins at a predetermined discount and/or use it as a tool to market/sell their coins. >>



In all fairness that is far removed from the question asked , the question put to us being what discount do we expect walking in the door at any given dealers.

MikeInFL

<< <i>The reason I asked, I purchased a few coins lately and each time the dealer offered me a price less than their asking price. It made me wonder if dealers automatically expect to sell their coins at a predetermined discount and/or use it as a tool to market/sell their coins. >>



It is my sense that most dealers leave a little meat on the bone to negotiate before closing a deal.

To wit, I never really negotiate price. I simply ask for "how much should I make out the check for" if I've already decided to purchase the coin, or "what's your best price" if I have not and then I then pass or play. The important point to the topic of this thread is that I have always received a discount off the price asked (unless the discount was already quoted, as some dealers who I work with quite a bit tend to do). That discount is somewhere between 2.5 and 5%, typically, but really I don't "expect" a discount per-se (to mean I typically won't refuse a good coin just because a dealer refused to discount it)...Mike

llafoe

<< <i>

<< <i>

<< <i>Stupid question. First thing you need to know FOR SURE is what is the true fair value of the coin. Most collectors who are not very knowledgeable in the dealings of the coin market do not know this. The % of the asking price you should pay is the % of that true value. I doubt very much if a knowledgeable dealer would offer a coin at less than its true fair value. Good luck. Steve >>



Someone didn't pay attention in school... or just likes to belittle people.

The reason I asked, I purchased a few coins lately and each time the dealer offered me a price less than their asking price. It made me wonder if dealers automatically expect to sell their coins at a predetermined discount and/or use it as a tool to market/sell their coins. >>



In all fairness that is far removed from the question asked , the question put to us being what discount do we expect walking in the door at any given dealers. >>



Hey, it's my question! I made the leap from dealers automatically offering me discounts to the catalyst of them offering said discounts stemmed from the expectations of buyers...

JamesMurray

<< <i>

<< <i>

<< <i>

<< <i>Stupid question. First thing you need to know FOR SURE is what is the true fair value of the coin. Most collectors who are not very knowledgeable in the dealings of the coin market do not know this. The % of the asking price you should pay is the % of that true value. I doubt very much if a knowledgeable dealer would offer a coin at less than its true fair value. Good luck. Steve >>



Someone didn't pay attention in school... or just likes to belittle people.

The reason I asked, I purchased a few coins lately and each time the dealer offered me a price less than their asking price. It made me wonder if dealers automatically expect to sell their coins at a predetermined discount and/or use it as a tool to market/sell their coins. >>



In all fairness that is far removed from the question asked , the question put to us being what discount do we expect walking in the door at any given dealers. >>



Hey, it's my question! I made the leap from dealers automatically offering me discounts to the catalyst of them offering said discounts stemmed from the expectations of buyers... >>



: ) I'd probably be more agreeable if i could get a discount lol

PerryHall

<< <i>Discount from what? >>



Price marked on the holder---starting point for negotiation.

PerryHall

I don't usually think in terms of discounts---I usually just ask for their best price and then play or pass.

AnkurJ

If its priced right, I buy it without haggling. If close, I ask what the best they can do. If we are close, I make a counter offer.

However, if a coin is priced beyond what I would pay, I usually dont bother to ask.

abitofthisabitofthat

It is an interesting question. I hate to haggle. I set up at shows, and some collectors will insist on haggling. For coins in 2X2s I always leave some room. If someone asks what is my best price, I tell them my bottom line. For coins in slabs, I print out a no haggle price list. This is what I would like (no haggle pricing) if, and when, I am on the other side of the table. Some folks simply insist on trying to haggle, though. I guess they enjoy it, or feel that they need to get a bargain.

LindeDad

I normally only look for a discount when I buy several items at the same time. As in a group discount and normally never over about 10%.

crypto79

what ever it takes it to get it to fair market value

Bear

Good, repeat customers, are entitled to a small discount from regular price.

One might say that this is the Best Price without asking for it.When one of my regular

dealers offers me a price it includes best price and is then eith take it or leave it.

Lakesammman

There are too many variables to answer with a single reply.

Elcontador

1) What is your relationship with said dealer
2) What did he pay for the coin and how much is it marked up (dealers with whom I have a good relationship will tell me)
3) Are you getting first shot at a coin which is hard to find (the few times this happened, I did not ask for a discount, I passed or played)

RYK

"Show Me Your Big "O" "

That's what I have come to expect.

silverpop

don't expect one

canadanz

I do not expect one, period. I rarely, if ever, haggle on price with my favorite local dealer. I just pay what he asks, in the hopes that in the future, should I ask what his best price is on an item I really want to own, he'll cut me a deal. The guy is great though, and when I ask "how much," he'll often say "$x, and I'm making $x on that." Also, if he buys something that walks in off the street, and I'm interested, he'll often sell it to me at his cost, or his cost + 1-2%. No need to haggle with such a dealer.

JamesMurray

The art of the haggle

Broadstruck

llafoe, I'm gonna shoot for a 50.01% off discount on your next BST listing!

AMRC

When working with my regular dealers it is assumed they are giving me "my price" and I never negotiate from there. I either want it at that price or I do not. And yes many times it is below the marked price.

llafoe

<< <i>llafoe, I'm gonna shoot for a 50.01% off discount on your next BST listing! >>



Deal - My next listing is an MS64 1927 St Gaudens for $20,000... should I send you a PayPal request?

Sonorandesertrat

<< <i>1) What is your relationship with said dealer
2) What did he pay for the coin and how much is it marked up (dealers with whom I have a good relationship will tell me)
3) Are you getting first shot at a coin which is hard to find (the few times this happened, I did not ask for a discount, I passed or played) >>



4)It also could depend on how long he had the coin in stock. More than 4-6 months, and most savvy dealers will offer a prospective buyer a good discount to move the thing out of inventory.
5)Sometimes a 'discount' is quickly offered to hook and reel in a prospective buyer who does not realize that the coin in question is not nice for its grade.
6)Don't routinely expect a discount from a dealer, or else you will come to be viewed as a chiseler and not be offered 'first shots' at really nice coins.

Rollerman

In the good old days before my #1 dealer retired, I could expect the price to be between what was marked on the piece and bid. If it was closer to the price on the coin, he'd usually say something like, I had to give more for that one, I'm only making X amount on that one.

There were times when I'd buy a common inexpensive ASE and I had the money on the counter, he'd say you forgot your "good guy" discount, and he would give me part of it back when I wasn't expecting any break on a low price coin!

Aah! Those were the days!
Pete

cmerlo1

I never expect a discount. I do expect some basic customer service.

Baley

when i worked in retail (high school) sometimes customers would ask, "is this ON SALE?" and if we said no, they weren't interested.

so we quietly repriced everything 40% higher, had a "25% off sale!", and made out like bandits

llafoe

<< <i>when i worked in retail (high school) sometimes customers would ask, "is this ON SALE?" and if we said no, they weren't interested.

so we quietly repriced everything 40% higher, had a "25% off sale!", and made out like bandits >>



Well, at least you made out like 5% bandits!

GrumpyEd

If it's a situation where I ask his price I don't expect to get it for much lower than his reply.

If it's a marked price and it's a crazy high price I might expect a discount to what it's worth.
I've had a lot of dealers start out by saying "ignore the marked prices".

NumisOxide

<< <i>when i worked in retail (high school) sometimes customers would ask, "is this ON SALE?" and if we said no, they weren't interested.

so we quietly repriced everything 40% higher, had a "25% off sale!", and made out like bandits >>


People love a good deal.

Broadstruck

<< <i>

<< <i>llafoe, I'm gonna shoot for a 50.01% off discount on your next BST listing! >>



Deal - My next listing is an MS64 1927 St Gaudens for $20,000... should I send you a PayPal request? >>

CalGold

Using the online auction archives you can often find what the dealer paid for the coin. If the dealer is asking 3x retail he is mostly likely a yahoo taking a shot and you are not going to agree on a price. If he is making 10-20% he may have no room to discount unless its a high ticket item that he just acquired and he wouldn't mind turning a fast profit.

CG

MrEureka

I don't put price stickers on my coins, and I'll often quote different people different prices. Depending on my prior experience with the buyer, I may or may not leave myself room for negotiation.

mbbiker

<< <i>when i worked in retail (high school) sometimes customers would ask, "is this ON SALE?" and if we said no, they weren't interested.

so we quietly repriced everything 40% higher, had a "25% off sale!", and made out like bandits >>




I worked at a place that did that a few years ago and quit on the spot when they told me to mark everything up for a sale. I know people like things on sale because they think they're getting it cheaper and don't do their homework first but its still wrong to do. Yeah i took a pay cut when i got my next sales job but i could actually feel good about working their knowing the owner cared more about customer service and repeat customers than making a quick buck.


I don't expect a discount the dealer gives me his price and if i agree i buy if i don't agree i pass.

RRich2004

<< <i>When you purchase coins from a dealer, what percent discount do you expect (on average, in general)? >>



I don't "expect" any discount. However, because I buy in bulk at local shows, and stores, I receive as much as 15%, which I don't haggle for, nor do I ask for that. It's given me as part of the strong relationship I have with dealers locally.

Lakesammman

If I get 1st shot at a coin I know others are dying to have - none.

Cheap coin and I want the dealer to like me in the future - none.

Coin on the market for a long time and they're still taking shots at me - significant discount.

The dealer has made thousands off me in the past on consignments and the coin is only modestly in demand - 10%.

Generic coin you can buy 6 of at any show - discount depends on what they're asking.

It's Andy and he can see my eyes dilate - none.

Etc, etc., etc.

PTVETTER

asking for a discount is not way to build a relationship with a dealer!

A good relationship with a dealer will save you much more money in the long run.

I have a customer that is willing to pay the marked price on the coin.

90% of the time he does not pay that price, its lower without him ever asking, and yes he has first shot at the new stuff!

lava

The flip side of this is "what kind of discount does the seller expect to offer in response to an inquiry from a buyer?"

I know one dealer in particular that asks you to designate the coins your interested in, and even though the coins are all priced, the response is "we'll get back to you with prices," and the prices always come back at some margin of discount. To me that is kind of like throwing money away. If the list prices were not in the ballpark, I wouldn't be inquiring. BUT, I'm not complaining.

TPRC

<< <i>I don't put price stickers on my coins, and I'll often quote different people different prices. Depending on my prior experience with the buyer, I may or may not leave myself room for negotiation. >>



Interesting. I'll remember that. In a similar vein, a dealer I buy from often, when confronted with my "what do you want for that?" question, asks me "what would you like to pay?" I think my offers are generally higher than the discount that he would otherwise give me.

canadanz

<< <i>

<< <i>I don't put price stickers on my coins, and I'll often quote different people different prices. Depending on my prior experience with the buyer, I may or may not leave myself room for negotiation. >>



Interesting. I'll remember that. In a similar vein, a dealer I buy from often, when confronted with my "what do you want for that?" question, asks me "what would you like to pay?" I think my offers are generally higher than the discount that he would otherwise give me. >>



I really, really don't like that line of pricing. It's wholly unfair to the buyer. If you want to sell something, either auction it, or put a price on it -- even if it's a fluid price.

RichieURich

<< <i>

<< <i>I don't put price stickers on my coins, and I'll often quote different people different prices. Depending on my prior experience with the buyer, I may or may not leave myself room for negotiation. >>



Interesting. I'll remember that. In a similar vein, a dealer I buy from often, when confronted with my "what do you want for that?" question, asks me "what would you like to pay?" I think my offers are generally higher than the discount that he would otherwise give me. >>



That is why I put prices on all of my coins for sale. At least you know whether or not you are "in the ballpark". As discussed in a prior thread.

mozeppa

wheres the 90% choice?

when i'm buying i usually get zero.

when i'm selling every buyer starts telling me how tuff the economy is and that the time
it took me to find the coins i'snt worth anything.