Home› U.S. Coin Forum

Why Coin Dealers Drink--Part CCCCIII

CaptHenwayCaptHenway Posts: 32,749 ✭✭✭✭✭
in U.S. Coin Forum
From the dealer-to-dealer network this morning:

“Local jewelry store just purchased close to 700 bust halves...
Cull thru dirty Unc.....
paid $10 per coin straight thru.....
at least that is what he said......
If we buy this ...adv interest....”

Followed later by:

“Jewelry store guy just came in....
what he meant to say there was a "bust" on each half...
some had franklin and some had kennedy....”
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.

Comments

  • guitarwesguitarwes Posts: 9,290 ✭✭✭
    ijjit
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • StaircoinsStaircoins Posts: 2,577 ✭✭✭
    "Bust" = Where the potential deals went.
  • JcarneyJcarney Posts: 3,154 ✭
    $10 per coin is more than fair. Perhaps jewelry store owners SHOULDN'T drink.
    “When the people find that they can vote themselves money, that will herald the end of the republic.” — Benjamin Franklin


    My icon IS my coin. It is a gem 1949 FBL Franklin.
  • astroratastrorat Posts: 9,221 ✭✭✭✭✭
    Had me going ...
    Numismatist Ordinaire
    See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭
    Ten seconds of envy coupled with copious salivation image
    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • CoinRaritiesOnlineCoinRaritiesOnline Posts: 3,681 ✭✭✭✭
    A find of cull Kennedy halves might turn the PO1 market on its ear.
    John Agre

    Coin Rarities Online
  • PerryHallPerryHall Posts: 46,851 ✭✭✭✭✭


    << <i>$10 per coin is more than fair. Perhaps jewelry store owners SHOULDN'T drink. >>



    Depends on how many post 1964 Kennedy halves are in the group.

    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

  • CaptHenwayCaptHenway Posts: 32,749 ✭✭✭✭✭


    << <i>

    << <i>$10 per coin is more than fair. Perhaps jewelry store owners SHOULDN'T drink. >>



    Depends on how many post 1964 Kennedy halves are in the group. >>



    Indeed!
    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.
  • Wabbit2313Wabbit2313 Posts: 7,268 ✭✭✭✭✭

    It's nice to know the network is set up for "all" the dealers to join in on screwing the little old lady or otherwise naive. image
  • PerryHallPerryHall Posts: 46,851 ✭✭✭✭✭


    << <i>It's nice to know the network is set up for "all" the dealers to join in on screwing the little old lady or otherwise naive. image >>



    image

    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

  • Taylor101Taylor101 Posts: 275
    Oh my. That is funny!
    Taylor
    Also known as coinman101---
    I am a YN and I do not want anybody to question my IQ Level! I don't know everything and came here to learn! image
  • CaptHenwayCaptHenway Posts: 32,749 ✭✭✭✭✭


    << <i>It's nice to know the network is set up for "all" the dealers to join in on screwing the little old lady or otherwise naive. image >>



    An ignorant comment. The jewelry store has nothing to do with the dealer network. The coin dealer was just using the dealer network to make fun of the jewelry store.
    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.
  • tincuptincup Posts: 5,404 ✭✭✭✭✭
    .... and I was expecting that all of the bust half dollars.... were actually all chinese fakes....
    ----- kj
  • epcjimi1epcjimi1 Posts: 3,489 ✭✭✭
    This thread is getting weird. Melt is for a 90% Kennedy is about $8.60 give or take. Jewelry guy paid $10 per "bust". That's about 16.4% more than the silver content. Seller did well, MHO.
  • PerryHallPerryHall Posts: 46,851 ✭✭✭✭✭


    << <i>This thread is getting weird. Melt is for a 90% Kennedy is about $8.60 give or take. Jewelry guy paid $10 per "bust". That's about 16.4% more than the silver content. Seller did well, MHO. >>



    Most Kennedy's are not 90%. Some are 40% and most are 0%. We need a date breakdown before we can see how badly the jeweler overpaid. Of course we are assuming the jeweler was being truthful when he claimed he paid $10 each.

    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

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,615 ✭✭✭✭✭
    Moral of the story: Something about leaving one to their own devices image

    ``https://ebay.us/m/KxolR5

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Where do coin dealers drink??? I would drop in from time to time just to hear the stories.....image Cheers, RickO
  • CaptHenwayCaptHenway Posts: 32,749 ✭✭✭✭✭
    Posted this morning when silver was around $21.70 an ounce:

    "Had a guy in today to offer me a fantastic deal. He said that, even
    though silver is plummeting, he would still pay me $20/oz for every
    ounce I had on hand. I told him to come back when silver was $18 because
    I can get $24 today. Then he became a little annoying. He said he
    wouldn't repeat this offer and it was a good deal because he would take
    it all as long as it was .999, even my silver eagles! I said "No".
    Then he said "don't be a fool and pass on a deal like this."
    I then politely asked him if he would like to leave on his own or if he
    wanted help out the door."
    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.
  • keyman64keyman64 Posts: 15,538 ✭✭✭✭✭
    image
    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • PerryHallPerryHall Posts: 46,851 ✭✭✭✭✭


    << <i>Posted this morning when silver was around $21.70 an ounce:

    "Had a guy in today to offer me a fantastic deal. He said that, even
    though silver is plummeting, he would still pay me $20/oz for every
    ounce I had on hand. I told him to come back when silver was $18 because
    I can get $24 today. Then he became a little annoying. He said he
    wouldn't repeat this offer and it was a good deal because he would take
    it all as long as it was .999, even my silver eagles! I said "No".
    Then he said "don't be a fool and pass on a deal like this."
    I then politely asked him if he would like to leave on his own or if he
    wanted help out the door." >>



    The dealer should have said that he's paying $22 so why should he sell for $20?image


    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

  • daOnlyBGdaOnlyBG Posts: 1,060 ✭✭


    << <i>Posted this morning when silver was around $21.70 an ounce:

    "Had a guy in today to offer me a fantastic deal. He said that, even
    though silver is plummeting, he would still pay me $20/oz for every
    ounce I had on hand. I told him to come back when silver was $18 because
    I can get $24 today. Then he became a little annoying. He said he
    wouldn't repeat this offer and it was a good deal because he would take
    it all as long as it was .999, even my silver eagles! I said "No".
    Then he said "don't be a fool and pass on a deal like this."
    I then politely asked him if he would like to leave on his own or if he
    wanted help out the door." >>


    You were too nice with him, IMO.
    Successful BST transactions with: blu62vette, Shortgapbob, Dolan, valente151, cucamongacoin, ajaan

    Interests:
    Pre-Jump Grade Project
    Toned Commemoratives
  • coindeucecoindeuce Posts: 13,496 ✭✭✭✭✭


    << <i>You were too nice with him, IMO. >>



    You who? The OP was quoting a message posted by someone else on a dealer network. image

    "Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
    http://www.american-legacy-coins.com

  • OldEastsideOldEastside Posts: 4,602 ✭✭✭✭✭
    Even those pesky little Silver Eaglesimage

    Steve
    Promote the Hobby
  • DentuckDentuck Posts: 3,820 ✭✭✭
    For Proofs he'll sweeten the pot to $22.50.




  • CaptHenwayCaptHenway Posts: 32,749 ✭✭✭✭✭


    << <i>

    << <i>Posted this morning when silver was around $21.70 an ounce:

    "Had a guy in today to offer me a fantastic deal. He said that, even
    though silver is plummeting, he would still pay me $20/oz for every
    ounce I had on hand. I told him to come back when silver was $18 because
    I can get $24 today. Then he became a little annoying. He said he
    wouldn't repeat this offer and it was a good deal because he would take
    it all as long as it was .999, even my silver eagles! I said "No".
    Then he said "don't be a fool and pass on a deal like this."
    I then politely asked him if he would like to leave on his own or if he
    wanted help out the door." >>


    You were too nice with him, IMO. >>



    I am retired. I do not work in a shop anymore. These quotes are from active dealers.
    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.
  • CaptHenwayCaptHenway Posts: 32,749 ✭✭✭✭✭
    Here's another one, again from the dealer-to-dealer network:

    "A guy just came in the store and accused me of switching a $200.00 coin on
    him,
    30 years ago !!!
    Then he accused me of cheating on my boss in Caro, Mi ...
    I'v never been to Caro, Mi.
    Yells out, what goes around comes around...then left...
    How the heck do ya handle nut jobs like that ?
    WOW !!!"
    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.
  • coindeucecoindeuce Posts: 13,496 ✭✭✭✭✭


    << <i>Here's another one, again from the dealer-to-dealer network:

    "A guy just came in the store and accused me of switching a $200.00 coin on
    him,
    30 years ago !!!
    Then he accused me of cheating on my boss in Caro, Mi ...
    I'v never been to Caro, Mi.
    Yells out, what goes around comes around...then left...
    How the heck do ya handle nut jobs like that ?
    WOW !!!" >>



    I wonder if the guy was wearing a Johnstown Chiefs sweater, and had tin foil wrapped around his knuckles... image

    "Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
    http://www.american-legacy-coins.com

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Format
SpoilerCodeQuote
Heading 2Heading 1
Emoji
:):D:(;):/:o:s:p:'(:|B):#:*<3o:)>:)
Url
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file
Home • U.S. Coin ForumComment As ...