Coin truisms - The 2 best I've heard - Have any more?

barberkeys

I don't grade 'em, I just price 'em. (first heard in the early '90's at a coin shop of questionable repute).

What's the difference between MS69 and MS70? The price.

------------
Vern

goodmoney4badmoney

The only hobby where your collection cannot be worth $0.

jdimmick

Here's one us dealers use all the time:

Customer asks for a discount , " sorry, I got too much in it? or No , I am afraid I cant, just too tight in it" In some cases its honestly true , and some times there so much room in a piece, its just a ploy to get them to feel as there getting a good deal.

jim

Vern , you going to philly?

LanceNewmanOCC

<< <i>I don't grade 'em, I just price 'em. (first heard in the early '90's at a coin shop of questionable repute). >>



that is not good for me.

i love using that quote in an attempt to circumnavigate any debate about a coin(s) grade. i prefer to let my price reflect my grade estimate vs availability vs popularity and a silent factor (my cost basis)
.
edited for grammar/punctuation

homerunhall

Veteran dealer Harry Warner told me this in the mid-1970's

"The easiest thing to do in the coin business is spend money."

I guess that aplies to business and life too!

hrh

DNADave

"I don't have any change"

Me, to my wife, at a coin show where she wanted to use vending machine.

After I just spent about a grand on the "change" in my pocket.

The dirty look was classic.

CheckersFred

coin truism -- it's easier to find the coin than it is to find the money.

gyocomgd

"Ownership is worth a point."

Elcontador

<< <i>coin truism -- it's easier to find the coin than it is to find the money. >>



As I looked eight years for an acceptable Bust $ in AU and , four years for an acceptable Barber Half in MS 65, I'd have to disagree with the above comment.

Spooly

Buy the coin not the holder...... I only buy PCGS coins!

Julian

Jerry Cohen told me long ago:

There are more coins than you have money to buy them.

dogwood

A local dealer once said, "the Susan B Anthony dollar is the only coin uglier than me".
He also said, "learn to grade coins"
This guy was always right.

habaraca

I grade that one as, and states a dollar amount...

cladking

My mentor used to say "rare coins are the ones you don't often see".

philographer

Easy to buy, hard to sell.

CoinRaritiesOnline

“The opportunity to buy a rare coin is often rarer than the coin itself.”
-- Attributed to noted dealer Lester Merkin in the 1960’s.

BigMoose

"Quality is remembered long after price is forgotten".

DHeath

When asked the grade, I heard a shop owner say "I grade that one $100".

ambro51

Life is short

JohnMaben

<< <i>I don't grade 'em, I just price 'em. (first heard in the early '90's at a coin shop of questionable repute).

What's the difference between MS69 and MS70? The price.

------------
Vern >>



The first quote goes back at least to the 70's as one of my bosses at the time used it. I see nothing wrong with it. The message is, "I'm not intersted in discussing grading". It does not imply "my coins are overgraded so I won't tell you what I think the grade is". Granted, it's not a friendly approach and is very old school.

The second is just plain ignorant, but at least partially true.

Here's one:

Customer: What would you pay?
Dealer: I'd pay $XXX
Customer: I'd never sell it for that! It's worth at least $XXX
Dealer: How many would you like to buy?

Message: If you think my offer is unfair, then buy mine because I am a seller at less than you think they are worth.

MICHAELDIXON

I told an obnoxious customer who was degrading coins and lowballing price this whenever I had the shop in Kentucky: "I'd rather eat that dam* coin without salt or pepper than to sell it to you at any price!"

Sonorandesertrat

Caveat emptor. Much of the business end of numismatics relies on marketing and, to that end, the 'greater fool' theory is alive and well.

SmallTownCoins

"The Book doesn't buy coins"...

thecoinlook

Buy high and sell low.

Bossman88

Back in the mid 60's when I was 15.
I asked a dealer in downtown Chicago,
" How do you know if a coin is rare? "
His reply, " If it's for sale somewhere, It ain't rare"

Regards, Larry

Zoins

From bestclser1, our resident moose hunter:

"Great coins are not cheap, and cheap coins are not great!"

ajaan

<< <i>Back in the mid 60's when I was 15.
I asked a dealer in downtown Chicago,
" How do you know if a coin is rare? "
His reply, " If it's for sale somewhere, It ain't rare" >>


I like that one.

PerryHall

<< <i>Back in the mid 60's when I was 15.
I asked a dealer in downtown Chicago,
" How do you know if a coin is rare? "
His reply, " If it's for sale somewhere, It ain't rare"

Regards, Larry >>



This makes no sense since even extremely rare coins are occasionally for sale.

guitarwes

"A Nickel ain't worth a Dime anymore."

-Yogi Berra

braddick

My favorite Numismatic Truism:

"Just because a cat has kittens in the oven don't make them biscuits."

Zoins

<< <i>

<< <i>Back in the mid 60's when I was 15.
I asked a dealer in downtown Chicago,
" How do you know if a coin is rare? "
His reply, " If it's for sale somewhere, It ain't rare"

Regards, Larry >>



This makes no sense since even extremely rare coins are occasionally for sale. >>



I'm guessing he meant coins that usually aren't for sale, e.g. on sale once every few years or more.

For most coins, there's the "everything has a price" truism where you can probably buy it just by making a huge offer. Of course there are coins like the 1933 DE and 1964-D Peace dollars, as well as the 1877 gold Half Union patterns and 2000 gold Sacs which are a bit more challenging.

Staircoins

"Buy the book before you buy the coin."


"How much of the value of that coin is plastic and bean?" (from a member's sig line)

lcoopie

I don't think this is the best but

If you want to judge eye appeal show it to a non collector, preferable a small child

Walkerguy21D

"Don't necessarily buy the best you can afford, but rather, buy the best that you can understand" from the fellow who used to write the Coinsumer Advocate column in Coinworld a number of years ago.

I also like variations of "buy it from them then", when someone quotes what the Greysheet price is to a dealer who has priced his coins above sheet prices.

roadrunner

Borderline uncirculated.

Unc with rub.


Two of our greatest gifts from the 1970's coin dealers. Rather than coin "truisms," these should be labeled "falseisms" or "bogisms."

johnny9434

so many coins so little money

sparky64

"There's lots of great deals out there. How many can you afford?"

Dealer to me:
"You don't want to buy that coin. See the low price, what do you think I paid him for it?"

renomedphys

"Then buy it off the Graysheet"

Pokermandude

<< <i>Easy to buy, hard to sell. >>



Definitely this!

Caleb

<< <i>My favorite Numismatic Truism:

"Just because a cat has kittens in the oven don't make them biscuits." >>



My dad is always telling me that one!

segoja

You can't buy a problem coin cheap enough

That line about the difference between a 69 and 70 sounds like my line

CarlWohlforth

"There is no free lunch in numismatics."

This as a very green beginner after showing a NEWP (bought sight unseen from an ad in a coin mag) I thought might be a problem coin to a local coin shop owner. Fortunately I was fast enough that I was able to return the whizzed coin for a full refund. That coin shop earned a lot of my business.

Anyway I doubt this truism is 100% true, doesn't PCGS sponsor a free Registry lunch?

Buzzybest

<< <i>"There is no free lunch in numismatics."

This as a very green beginner after showing a NEWP (bought sight unseen from an ad in a coin mag) I thought might be a problem coin to a local coin shop owner. Fortunately I was fast enough that I was able to return the whizzed coin for a full refund. That coin shop earned a lot of my business.

Anyway I doubt this truism is 100% true, doesn't PCGS sponsor a free Registry lunch? >>



That's funny, because I've been taken to the cleaners at a few free lunches!

CEOcoinshopcom

"The only thing more rare than a rare coin..... is the buyer"

John Love said this to me over 25 years ago.

CEOcoinshopcom

I have one more.... this one is just plain funny.

Coin Dealer from Seattle (used to wear looney tunes ties at shows) so some of you will know who that was.

He would hold a very worn coin, and say..... "This coin was new, once"

tradedollarnut

The second is just plain ignorant, but at least partially true.

I find this statement to be at odds with itself

ebaybuyer

"will you guarantee that PCGS will grade it ?"

LochNESS

<< <i>The only hobby where your collection cannot be worth $0. >>



unless you're one of those Exonumania, Medals or Scripophily guys ... which I'm not

PerryHall

I've frequently said "Buy the highest grade that makes sense." Or, in other words "Buy the highest grade before the big jump in price in the next higher grade." For example, if a coin is worth $500 in MS63 and then jumps to $5000 in MS64, look for a nice high end MS63 to get the most bang for the buck.

LochNESS

<< <i>Borderline uncirculated.

Unc with rub.


Two of our greatest gifts from the 1970's coin dealers. Rather than coin "truisms," these should be labeled "falseisms" or "bogisms." >>



I've always had a difficult time accurately identifying "About Unc" grades. To me they're all XF or MS.

LochNESS

<< <i>"will you guarantee that PCGS will grade it ?" >>