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Why Coin Dealers Drink, Part CCCXC
CaptHenway
Posts: 31,564 ✭✭✭✭✭
From my old dealer-to-dealer network:
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"TODAY IS A DAY FOR THE CRAZIES!!!!
......Then had a guy come in that bought eagles from me
in the past pre 2007. Said he wanted to pick up his 2008, 2009, 2010, and
2011 Eagle rolls that he had me order each year. Wanted them at 14.95 per coin
an no he never paid a dime on anything. Just said I was suppose to hold them
for him til he got back in. "
.
"TODAY IS A DAY FOR THE CRAZIES!!!!
......Then had a guy come in that bought eagles from me
in the past pre 2007. Said he wanted to pick up his 2008, 2009, 2010, and
2011 Eagle rolls that he had me order each year. Wanted them at 14.95 per coin
an no he never paid a dime on anything. Just said I was suppose to hold them
for him til he got back in. "
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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Comments
<< <i>I would comment but I need to go pick up all the rolls I have had dealers holding for me, Thanks for the reminder!! >>
"Keep your malarkey filter in good operating order" -Walter Breen
<< <i>I assume he left somewhat more distressed than when he came in to your establishment.
Wasn't my old establishment. Another dealer.
Customer comes in an hour later, asks a few questions and says he'll take it. The dealer writes up an invoice for the roughly $27,000. The customer hands him $1000 cash. The dealer waits for the rest. Eventually it is determined that the guy thought he only had to pay $1000 face cash for $1000 face silver. He never bothered to figure out what 715 ounces at $37 per ounce came out to.
make that sale!
<< <i>Another dealer on that network had somebody call Saturday that wanted to buy a $1000 bag of 90% silver. The dealer explains that it is 715 ounces of silver at approximately $37 per ounce. The guy says fine. Dealer goes to the bank vault and brings back a $1000 bag.
Customer comes in an hour later, asks a few questions and says he'll take it. The dealer writes up an invoice for the roughly $27,000. The customer hands him $1000 cash. The dealer waits for the rest. Eventually it is determined that the guy thought he only had to pay $1000 face cash for $1000 face silver. He never bothered to figure out what 715 ounces at $37 per ounce came out to. >>
The dealer shoulda just pulled out 34 Morgans from the bag, put it in a paper bag and sold it to the buyer!
Yep, here's your $1,000 "bag of silver"!
The name is LEE!
Things like: how will you pay? If you're paying in cash we have to fill out the required paperwork (not to mention counting all those $1 bills!); or, if you're paying by check will the dealer just take a personal check or will the dealer require a cashier's check; or will the dealer accept a credit card at all and will the dealer add a fee for taking a credit card.
Is it typical for a dealer to be that casual about a transaction that requires a special trip to the bank?
Check out the Southern Gold Society
<< <i>Is it typical for a dealer to be that casual about a transaction that requires a special trip to the bank? >>
If they do a lot of bullion business, they probably are. Probably like a stock broker selling a thousand shares of this or that. Hohum.
Lafayette Grading Set
<< <i>Considering that's a roughly $26,500 transaction, wouldn't it have been logical for the dealer to set the terms of the transaction before the purchase?
Things like: how will you pay? If you're paying in cash we have to fill out the required paperwork (not to mention counting all those $1 bills!); or, if you're paying by check will the dealer just take a personal check or will the dealer require a cashier's check; or will the dealer accept a credit card at all and will the dealer add a fee for taking a credit card.
Is it typical for a dealer to be that casual about a transaction that requires a special trip to the bank? >>
As someone who has worked in retail sales before, has been customer service (phone support) before, and still deals with partners, I have to agree with the above.....a lot of headaches can be stopped, before starting, if you learn to qualify your customer and understand what they are really asking....with some very quick and simple qualifying questions.
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
If that doesn't make sense, let's just say some people are happy that I can beat COINSTAR's prices by 2%.
at a coin shop. It only takes a single hit to make it worth while.
Or he is just stupid...
<< <i>Maybe the guy wanting to buy $1000 face in silver is hoping to run across someone new
at a coin shop. It only takes a single hit to make it worth while.
Or he is just stupid...
Bingo!
<< <i>You guys are missing the point...there are no banks in my area that allow vault access on Saturday...Wow!!!
How are things in Mayberry these days????
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"Is it just me, or are the questions and phone calls getting dumber?
so far today I have one person who wants more than silver value for her buffalo nickels,
one guy who has a roll of 1961 Kennedy halves (no you don't - yes I do!)
and one guy who has a 1925 $10 Indian (no you don't - yes I do!)
oh yea, how about
"why are you only paying $25 per $1 of 90% if it contains an ounce of silver?"
"it doesn't contain an ounce of silver."
"well, it used to."
we're going to start imposing a stupid surtax."
"Lady asks for a 25th anniversary silver bar.
I happened to have one without a date, rectangle.
Was toned, she wanted it shiny, so dipped it, then
she wanted a box, found a box, the she asks how
much...told her spot plus 10%...how much is that?
$44.50 i tell her. She said these used to be $15!
I said and gas used to be 15 CENTS TOO!!!
SHE DIDN T BUY IT..SAID SHE HAD TO THUNK ABOUT IT."
A: "Yes, but only at the post office"
<< <i>And from a different dealer:
"Lady asks for a 25th anniversary silver bar.
I happened to have one without a date, rectangle.
Was toned, she wanted it shiny, so dipped it, then
she wanted a box, found a box, the she asks how
much...told her spot plus 10%...how much is that?
$44.50 i tell her. She said these used to be $15!
I said and gas used to be 15 CENTS TOO!!!
SHE DIDN T BUY IT..SAID SHE HAD TO THUNK ABOUT IT." >>
you're probably in it for $15 and want triple!
highway robbery!
how long has it been since you've heard that phrase, price gouger?
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
The dumbest question I can remember from my years in the trenches was "Do you know what bank your checks are drawn on?"
phones regarding error coins for 40 years, I could
easily make this a 500-count thread with some of
my stories.
For example, in the past few years, I've started to
hear a new retort when I tell someone that their
coin was either hit with a hammer, or run over by
a train......their reply?
"Why would the Mint do that?"
I think I've found the right subject for the next
Whitman Publishing numismatic book !
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
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Go for it!!!!!!!
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CUSTOMER CALLED TRYING TO CASH IN SOME BERMUDA DOLLARS ... SAYS
THEY ARE US CURRENCY ... WE ASKED WHO WAS ON THE FRONT OF THE
BILLS ... HE SAID QUEEN ELIZABETH ... THE QUEEN OF USA ...
I WONDER HOW THEY HAVE ENOUGH BRAIN POWER TO RUN THEIR HEART AND LUNGS
That's OK. I don't check my Facebook every day, so I can kind of understand.
<< <i>"THE 100 DUMBEST QUESTIONS ASKED OF COIN DEALERS!"
.
Go for it!!!!!!! >>
I would buy a book like this in a heartbeat!
<< <i>Real complaint: somebody kvetched because a dealer was buying silver rounds at spot, and wanted 50 cents over to sell them! Called the dealer greedy!
Buy gold.
I knew it would happen.
.
"Call of the day. Guy calls and said he had some more walking liberty halfs
to sell and wanted to know how much more he would get today as silver was
up. Told him silver was showing quite a bit down today. He insisted it
was not. Gave him price we were paying for a 90% silver half, and he then
asked how much would we pay for a silver quarter. I told him "half of that"
He got upset and screamed "You mean you're only paying 12 1/2 cents for a
silver quarter. Where do they come from?"
<< <i>
<< <i>"THE 100 DUMBEST QUESTIONS ASKED OF COIN DEALERS!"
.
Go for it!!!!!!! >>
I would buy a book like this in a heartbeat! >>
I think it is being written now.
"My best one in recent history was an older lady that was belligerent with me
because her "Golfers" nickle wasn't valuable. At first I didn't know what
she had, then she clarified it by saying it was a nickel with 2 golf clubs on
it and there were 2 golfers shaking hands. Classic."
(That's the 2004 Indian Peace Medal design nickel.)
<< <i>well, he could have sold him a $1000 bill or 2 $500s then....
make that sale! >>
Actually, a $1,000 bill will sell for 2K and the $500's at $800-$1,000 each.
<< <i>... "You mean you're only paying 12 1/2 cents for a silver quarter..." >>
If he's willing to pay me exact change, I might take that deal. Priced any half cents lately?
Another dealer sold "a bag of 90%" on Friday. The guy received a $1,000 bag of dimes today, drop shipped from another dealer the selling dealer had a good relationship with, so the coins were no problem.
However, the buyer calls the selling dealer and insisted he had ordered a bag of "quarters, halves and dollars only" and wants to return it.
"Guy came in today, rudely walked up to the front of the line, loudly said he
had some chinese silver dollars and he wanted to sell them, further that he
knew they were 80% silver. As he held one of the coins out to me I reached
out with my magnet and it jerked the coin out of his hand with a delightful
CLANG. You'd think this would be the end of it but the guy was belligerent
and insisted they were 80% silver. He grumbled so much I told him that this
was my job and to give me the benefit of the doubt that I just might know
more than him about it, and that I didn't come to McDonalds and screw with
him when he was working. He left, grumbling all the way...much to the joy of
my other customers!"
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
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First call of the morning.
Caller: Do you buy scrap? I heard gold is over $1600.
Me: Yes we do.
Caller How much are you paying for scrap iron?
Me: ?????????? How much you got?
Caller: 5 sec. Pause then Click
Customer: I'm interested in buying some bullion. Mostly silver. Maybe some gold. What are your selling prices?
Me: Depending on the form of manufacture, the premiums vary, as well as fluctuating by base price in some cases on a momentary basis relative to the COMEX.
Customer: O.K. I want to buy several thousand dollars worth of silver.
Me: O.K., well in this instance you will be exempt from N.Y. Sales Tax, but you are required to provide photo ID and the transaction will be documented.
Customer: Well, what if I want to pay for the deal in cash and pay the Sales Tax ? I want to remain "autonymous", 'cause I don't want any paperwork. You know, the government might want to seize this.
Me: Sir, did you mean anonymous? (As I look him directly in the eyes, and then shift my gaze to the multiple video cameras that are pointed at him...and then back to his blank stare.) And the customer never caught on.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
<< <i>Posted by a dealer on Saturday:
.
CUSTOMER CALLED TRYING TO CASH IN SOME BERMUDA DOLLARS ... SAYS
THEY ARE US CURRENCY ... WE ASKED WHO WAS ON THE FRONT OF THE
BILLS ... HE SAID QUEEN ELIZABETH ... THE QUEEN OF USA ...
I WONDER HOW THEY HAVE ENOUGH BRAIN POWER TO RUN THEIR HEART AND LUNGS >>
The Queen of USA...
This is great!
Capt, what is the D2D network? Is it sort of a blast email to several dealers' addresses?
Just curious.