PolishSilver, I like your site as well. When I was a brand new member here I got a PM from someone who asked for my mailing address. About a week later I received a sample slab with a quarter that had a ship on it. The member stated he remembered me saying something about collecting coins with ships on them and it had something to do with my mom recently passing away. I was blown away that a total stranger would do that. Would you like to guess who that CU member was? Honestly I would "reset" with SavoySpecial, he is a good guy to know and undoubtedly will produce other coins in the future that you will want. I'm sorry you feel slighted but Greg really is a good guy. Just my two cents.
Guys can we all shoot for page #4 for the thread ! We may get 5 free submissions from our host
I am sure PolishSilver did not expect such a lively response here and probably responded in frustration to seeing the spread, and I even more certain that he will learn from this instance to research properly. SavoySpecial whom I do not know seems to be an honest guy and the approach should have been to contact him and address directly.
My three (and only thoughts). I am a heavy buyer of slabbed maundy coins and when I saw this one for sale I considered buying it. $100 for a graded coin that is that early is more than fair. Heck, fully graded common sets of Edward VII usually get $400 for the set.
Second, it's the buyer's responsibility to do their due diligence, not the seller. The seller asked a price and the buyer paid it. To bleat afterwards suggests that the buyer should be more mature and circumspect in their buying habits in the future.
And finally, as my favourite coin dealer says to me. When something is being sold the cost price is IRRELEVANT. This is not a cost plus margin game. Coins get sold at their perceived value and that almost always has little to do with the purchase price UNLESS they are purchased at their full perceived value. As a coin collector you better get used to that fact or get out of the hobby.
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When I am buying a coin for my collection, I do not care at all what the person selling me the coin paid for it, that information does not matter! The only number that I care about or that matters is what I am paying for the coin. If I am happy with that number I buy the coin, if not I don't. If the seller is making 40% or 400% or 4000% what difference does it make as long as you are happy with the coin?
What if two people are offering the same coin in the same grade:
Person A has the coin for $250 but he paid only $125 for it.
Person B has the coin for $275, but he paid $265 for it.
Everything else is equal, do you pay $25 more for the coin because the seller is making less money?
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I just noticed this thread. Now I'm wondering if I should feel guilty. I once picked a coin out of a dealers junk box, paid 33¢ for it, and sold it on the BST for $2.00.
DPOTD-3 'Emancipate yourselves from mental slavery'
<< <i>I just noticed this thread. Now I'm wondering if I should feel guilty. I once picked a coin out of a dealers junk box, paid 33¢ for it, and sold it on the BST for $2.00. >>
<< <i>wow, seems socialism has come to the darkside forum. I know whose name I'm adding to my ignore user list. Greg has always been a pleasure to deal with >>
I agree, I've had plenty of positive dealings with Greg always with an eager look to the next good transaction!!!!! Anyone encountering this thread shouldn't count it in the least against dealing with him.
<< <i>wow, seems socialism has come to the darkside forum. I know whose name I'm adding to my ignore user list. Greg has always been a pleasure to deal with >>
I agree, I've had plenty of positive dealings with Greg always with an eager look to the next good transaction!!!!! Anyone encountering this thread shouldn't count it in the least against dealing with him. >>
"Inspiration exists, but it has to find you working" Pablo Picasso
I have to admit that after the forth or fifth post I gave up reading this thread. I surmise the gist of it is that Gregg offered a coin for sale and someone bought it.....simple, done.
But its not......Gregg, bought a coin for X amount of money and sold it for X amount of money. Buyer figures out after he buys it that he feels he overpaid. I cannot tell you how many times this has happened to me......not from Gregg, but many other members and everywhere else
Its irrelevant where this coin was purchased or sold. Here or Ebay.......
One question I have is that if the buyer found out that he bought it for X amount below what the coin is worth would he notify the seller......or start a thread......."I Under paid for coin and want to give seller money"
What would have happened if the buyer purchased at a $1K profit??? Would there have been a thread on this?
I think we need to compose a thread and read it a few times before we hit ENTER on the keyboard.
One of my big frustrations involving this hobby/business is that there are entirely too many people who are scared to death that someone might accidentally make a buck.
Unless it's them making the buck, of course. THAT's different.
So by that same token would OP have wanted to pay him extra if he'd sold it to him at a loss?
<< <i>I've seen many members post coins at cost or a small profit but to scalp 40% is a bit much.
It is what it is... >>
Your math is incorrect. He made $40 above the $60 that he paid (ignoring whatever shipping or other expenses were involved). $40 is 66.66% more than the original $60, not 40% more. 40% more would have been $84.
Many, many perfect transactions with other members. Ask please.
I don't know what to say. I just cannot believe that someone still thinks there is a coin fairy and they should get everything at cost. Its a good thing no one wants to buy my 1788 bright gilt halfpenny, because it would set them back about 1000% of my cost. Wouldn't that make you feel bad.
How much $ per hour of your time did you make off that coin Savoy?
All - PolishSilver had apologized and Greg forgave, yet this thread continues for another week. PolishSilver may not be back here as many other new collectors who may stumble across this thread.
We all make mistakes, especially early in our collecting days, yet lets not turn this to a typical liteside forum gang behavior where all jump for the beat up. Funny that most adding to the post do not frequent the darkside of the forum - I guess the cavalry has arrived from the other side to join in the fun against the non defendible.
Lastly, this shouldnt be the top post on the BST for so long. If the goal is to educate and get new people in, this is not the way to do it. If the goal is for everyone to flex their web based muscles, then keep on beating a dead horse to feel good.
I too was surprised this was still going after it had ended (or so I thought) so amicably last week. The point was made, everyone including the principals seemed good so no need to burn down the house and salt the earth guys.
Always interested in St Louis MO & IL metro area and Evansville IN national bank notes and Vatican/papal states coins and medals!
Figured I'd post this since I took the time to dig it up, but the coin was picked up by the Ebay seller on Great Collections for $24. ($29 w/ buyers fee)
First of all the mark-up was almost 70%. Second, $40 profit might seem a bit steep but did anyone force you to buy the coin? Would you have bought it if you knew the mark-up? Most collectors buy a coin because they like the the coin regardless of mark-up.
Wow, megathreads in the BST rarely ever exist. Can I buy popcorn at 40% or 66.7% over cost? Nice coin and if anyone has an 1896 Maundy penny, I'll pay close to this price to round out my set.
I spoke to a dealer at a show who purchased a note from one dealer for $750 and then sold it to another dealer at the same show for over $12,000. Imagine if that happened on the BST!
I bought two coin last month from a dealer for $2500, I know from the dealers code on it he paid 2200. I also know from his codes hes had the pieces for 2 months. I know I can sell the coins for $3000. Should I make that dealer feel bad over making a living? Putting food on his families table? Cloths on his kids back? Shoes on their feet?
Should I feel back for not paying the dealer enough? Should I have drained my bank account and pay what I know I can get for them?
Comments
Honestly I would "reset" with SavoySpecial, he is a good guy to know and undoubtedly will produce other coins in the future that you will want. I'm sorry you feel slighted but Greg really is a good guy.
Just my two cents.
I am sure PolishSilver did not expect such a lively response here and probably responded in frustration to seeing the spread, and I even more certain that he will learn from this instance to research properly. SavoySpecial whom I do not know seems to be an honest guy and the approach should have been to contact him and address directly.
Enjoy the weekend.
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Ancient Custom Set
Second, it's the buyer's responsibility to do their due diligence, not the seller. The seller asked a price and the buyer paid it. To bleat afterwards suggests that the buyer should be more mature and circumspect in their buying habits in the future.
And finally, as my favourite coin dealer says to me. When something is being sold the cost price is IRRELEVANT. This is not a cost plus margin game. Coins get sold at their perceived value and that almost always has little to do with the purchase price UNLESS they are purchased at their full perceived value. As a coin collector you better get used to that fact or get out of the hobby.
What if two people are offering the same coin in the same grade:
Person A has the coin for $250 but he paid only $125 for it.
Person B has the coin for $275, but he paid $265 for it.
Everything else is equal, do you pay $25 more for the coin because the seller is making less money?
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1987-C Hendersonville Road
Asheville, NC 28803
wnccoins.com
Everyone else, thanks for the advice. I have learned my lesson.
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<< <i>savoyspecial, please accept my apology for posting my opinion on this thread. I should have contacted you directly.
Everyone else, thanks for the advice. I have learned my lesson. >>
It takes a big person to be humbled and acknowledge it. Welcome aboard!
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DPOTD Jan 2005, Meet the Darksiders
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
<< <i>I just noticed this thread. Now I'm wondering if I should feel guilty. I once picked a coin out of a dealers junk box, paid 33¢ for it, and sold it on the BST for $2.00.
Back to your Shroom!!!!!!!!!!!
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<< <i>wow, seems socialism has come to the darkside forum. I know whose name I'm adding to my ignore user list. Greg has always been a pleasure to deal with >>
I agree, I've had plenty of positive dealings with Greg always with an eager look to the next good transaction!!!!! Anyone encountering this thread shouldn't count it in the least against dealing with him.
<< <i>
<< <i>wow, seems socialism has come to the darkside forum. I know whose name I'm adding to my ignore user list. Greg has always been a pleasure to deal with >>
I agree, I've had plenty of positive dealings with Greg always with an eager look to the next good transaction!!!!! Anyone encountering this thread shouldn't count it in the least against dealing with him. >>
"Inspiration exists, but it has to find you working" Pablo Picasso
is that Gregg offered a coin for sale and someone bought it.....simple, done.
But its not......Gregg, bought a coin for X amount of money and sold it for X amount of money. Buyer figures out
after he buys it that he feels he overpaid. I cannot tell you how many times this has happened to me......not from Gregg, but many other members and everywhere else
Its irrelevant where this coin was purchased or sold. Here or Ebay.......
One question I have is that if the buyer found out that he bought it for X amount below what the coin is worth would
he notify the seller......or start a thread......."I Under paid for coin and want to give seller money"
What would have happened if the buyer purchased at a $1K profit??? Would there have been a thread on this?
I think we need to compose a thread and read it a few times before we hit ENTER on the keyboard.
My 2cents
.
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WNC Coins, LLC
1987-C Hendersonville Road
Asheville, NC 28803
wnccoins.com
www.brunkauctions.com
<< <i>No chance of this happening now that you get a salad everyday! >>
Dead Kings have to eat? Salad? Ye ol' dead rabbit?
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
Unless it's them making the buck, of course. THAT's different.
So by that same token would OP have wanted to pay him extra if he'd sold it to him at a loss?
Nah, didn't think so.
RIP Mom- 1932-2012
<< <i>I've seen many members post coins at cost or a small profit but to scalp 40% is a bit much.
It is what it is... >>
Your math is incorrect.
He made $40 above the $60 that he paid (ignoring whatever shipping or other expenses were involved).
$40 is 66.66% more than the original $60, not 40% more. 40% more would have been $84.
How much $ per hour of your time did you make off that coin Savoy?
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I know how much you paid for that silver eagle!
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We all make mistakes, especially early in our collecting days, yet lets not turn this to a typical liteside forum gang behavior where all jump for the beat up. Funny that most adding to the post do not frequent the darkside of the forum - I guess the cavalry has arrived from the other side to join in the fun against the non defendible.
Lastly, this shouldnt be the top post on the BST for so long. If the goal is to educate and get new people in, this is not the way to do it. If the goal is for everyone to flex their web based muscles, then keep on beating a dead horse to feel good.
Taler Custom Set
Ancient Custom Set
I too was surprised this was still going after it had ended (or so I thought) so amicably last week. The point was made, everyone including the principals seemed good so no need to burn down the house and salt the earth guys.
Here.
force you to buy the coin? Would you have bought it if you knew the mark-up? Most collectors buy a
coin because they like the the coin regardless of mark-up.
Should I feel back for not paying the dealer enough? Should I have drained my bank account and pay what I know I can get for them?
No one makes you buy anything.