Dealer in Albany,NY

olmanjon

I was in Albany to see my daughter and son-in-law. He knows that I collect coins so he suggested we drive into Albany to see a dealers stock. The dealer was in a mall. After searching through his stock I spotted a 1944 Mexican Peso in BU. It was priced at $14.95. I told him that I would take that one. He went over to the case, got it out and looked at it for a few minutes-it had the tag for $14.95 on it and he said "I don't know why that price is on it, I can't sell it to you for that, It's a $30 coin." The tag was stuck to the coin holder and didn't fall off of a different coin. I told him no thanks and left. My question is this. Should have he sold it to me for what it was marked? Offered to split the difference? Or the way he handled it? I can see both points of view, but just curious. The dealer that I deal with all the time at home would have sold it to me at the $14.95 price. What if I was buying from a 25 cent box and cherry picked a $25 coin. Would he expect to be paid $25 because that coin didn't belong in that box?
Olmanjon

TheBigB

Isn't that close to $15 in melt value. The fluctuation in metal prices has created a problem for dealers.

ajaan

He should have sold it to you at that price. Today at a coin show I picked up a couple Washington 25c for $4 each a couple silver 10c for $1.50-1.75 because the dealer forgot to go through the box and change prices. I sure he still made a profit on the coins.

mrpotatoheadd

$30 is (IMO) kind of steep for that coin, but it's his- he can ask whatever he wants.

Dealers often sell coins for less than the price on the holders, but nobody ever seems to insist that they pay the marked prices instead.

ajaan

There may even be a NYS law that says you can't sell an item for more than the price listed.

mrpotatoheadd

<< <i>There may even be a NYS law that says you can't sell an item for more than the price listed. >>

The price of a box of cheerios doesn't change like the price of silver does. People complain when dealers don't price their coins, and then want to punish those who do but do not have time to constantly reprice inventory as market conditions change.

Again- nobody makes a fuss when they get to buy something for less than the marked price. How about just approaching a potential purchase with a request for a current quote? It's not that hard.

edited to add... Not trying to give anybody a hard time here. I just think a seller has the right to ask what he wants for his coins, just as a buyer has the right to decline to purchase if the price is not to his liking. There's no reason to generate a point of conflict when none need exist.

ufdah

However it doesn't take a brain surgeon to walk around the store and post signs we all see in most coin stores that state

"Due to the fluctuating price of silver.. marked prices on coins containing silver and gold may be changed at final transaction, please consult about final price at register"....or along that line. It is wrong for someone to change the price on you if he did not give warning before hand that he reserves the right to do so. I get its his coin and his store...but a savy business man would also understand thats no way to do business. I think it perhaps isn't wrong, but at the same time is bad form.

FilthyBroke

I've had that happen once or twice. Most of the guys I see at shows just write the silver content on the 2x2 and write spot+ something and the asw of the coin if the prices fluctuate that much.