Is this too much of a dealer lowball?
Paulyaces76
Posts: 294 ✭✭
These kind of offers make me wonder why am I in this game. I can hear it now with, well they don't need them or thats over spot, but come on! Big dealer in Orlando just offered me $500 for the 2012 ATB P Set all 5 with all boxes and coa's and the coins look perfect! With the Hawaii going from $600-$800 alone and the Acadia slowly moving up I thought this was an insult! But, whatever I said thanks and moved along.
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My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
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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
Too many positive BST transactions with too many members to list.
<< <i>Perry, I just don't trust selling on ebay anymore. I think we are in a prime time for scams with all the new paypal rules. But, I would take my chance after that offer if I really needed the money. I will just stick them back in the safe. LOL >>
Did you point out the Hawaii ATB has a significant premium? Why not try the BST Forum? It doesn't cost you anything.
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
<< <i>Looks like they were making you a generous bullion offer (25oz. X $20) with hopes they could squeeze a little profit on the better pucks. There is a chance that the person quoting the price doesn't know the current market price of the Hawaii puck. >>
Another case of a 'complete set' (in this case, a 'complete 2012 P 5 coin set') being worth more individually than as a whole.
Can anyone explain why this is? It's not as if the coins 'don't have the right look', they are ultra-modern, blast white, 5 oz bullion coin, like all the rest of them.
I see no other reason (except as has been brought up...strictly due to a dealer not knowing the current market price) where an exceptionally low offer would be made, as would be understandable/possible with other, older series.
(needed to edit to add the 'dealer not aware' part)
<< <i>I'm sure your right, but the last 5 Acadia went in the upper 500's also. So, it is more like give me the $500 and make well over a grand for themselves any day of the week on ebay! That is not squeaking out a little profit more like 200%+ >>
If you want eBay prices, then sell on eBay. I think his offer was more than generous. I guarantee if you called 100 coin dealers, 90%+ would offer melt.
-Paul
<< <i>Seems low ball considering the value of the Hawaii. >>
Seems w-a-a-a-y low to me considering the price of silver not to mention collectibility!
The name is LEE!
What she should have come back to me with is, I can only give you $100 a piece for them, but think you can do much better selling them somewhere else!
<< <i> There is a chance that the person quoting the price doesn't know the current market price of the Hawaii puck. >>
I don't believe that for a second. BTW did you happen to check what they were selling the Hawaii pucks for?
<< <i>
<< <i>I'm sure your right, but the last 5 Acadia went in the upper 500's also. So, it is more like give me the $500 and make well over a grand for themselves any day of the week on ebay! That is not squeaking out a little profit more like 200%+ >>
If you want eBay prices, then sell on eBay. I think his offer was more than generous. I guarantee if you called 100 coin dealers, 90%+ would offer melt.
-Paul >>
He never said he was expecting eBay prices. Since you are a fellow a coin dealer, your response didn't surprise me at all.
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
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>Looks like they were making you a generous bullion offer (25oz. X $20) with hopes they could squeeze a little profit on the better pucks. There is a chance that the person quoting the price doesn't know the current market price of the Hawaii puck. >>
I have noticed from several dealers.... the person at the front buying coins lets on like he knows. little about coins ...going on to offer spot for anything that comes in to the store.. hoping to snare a clueless seller .. Avoid
I'm not a dealer at all but try to keep an open mind. So, with an open mind, let's ask a few questions to see if it may help clear things up....
* Did you just approach "a big dealer" out of the blue? Or, did you check and see if said dealer also deals in the same material?
* Does dealer sell ATB P sets already?
* If so, are his prices more accurate to the market rather than just around melt+?
I haven't looked at these since ~2010/2011, so I don't know this answer, but I will still ask the question: What is the market for these like? Easy for dealers to turn?
Now, if I didn't want to do ebay, and I wanted to sell these, I would look at some reputable online folks who sell them for market prices. Have you done that? Apmex? MCM?
If you get reasonable offers, sell. If you don't, then you can likely infer that they aren't moving well.
As for using the redbook for anything pricewise.....I would hope that you knew better by now....particularly on modern issues. Sometimes, it may be close. Most times, it probably isn't.
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
Could it be possible she was looking up the non-P versions which go for about $200 a piece? Just thought of that!
<< <i>These are hot! They sell like hotcakes! I would say people that know and follow these 2012's they are just as hot or hotter then anything that has come out of the mint in years. They fluctuate a lot, sometimes the Hawaii goes for $650 then a week later they will sell for $800 (never below $650) Then the Acadia is just as hot and fluctuates more, on a good day they can sell in the upper $500's on a bad day upper $400's. The Denali and El Yunque go for $250-$300 a piece, there is a lager which is the Chaco Culture can't get out of it's way at $200. This dealer is huge, deals in everything new and old! In business (And very reputable)for a long time, and also I have done business with them many times.
Could it be possible she was looking up the non-P versions which go for about $200 a piece? Just thought of that! >>
That is very possible. I wouldn't assume that every coin dealer knows the market on every modern coin that is out there considering how many products the mint puts out each year.
Jade Rare Coin eBay Listings
-KHayse
Sell it on eBay and move on or hang on to it until you get an offer you like. ATB pucks are not exactly numismatic rarities.
Latin American Collection
I've found the same with the "W" mint mark Eagles.
My guess is the dealer is ignorant or just doesn't want to deal with it. I'd just tell him to give me a call if he is ever selling for anywhere near his buy price.
<< <i>Why do people want to say if things are worthy of threads? I am not knocking PCGS in any way here, and maybe if people started posting these issues maybe things would change! Dealers should want to be known as upstanding citizens, not in the same class as a pawn shop in my opinion. We talk about craigslist being bad, should we say whatever you do don't bring your NONE RARITIES into coin shops to sell them? I hope not! >>
if the thread don' t fit .. just move on
It's all about wholesale turn
If you expect to get retail, sell them yourself on eBay and net about 87%
If not, expect to get 60% or less of "net eBay" pricing
<< <i>Brick and mortar shops want no part of the eBay market
It's all about wholesale turn
If you expect to get retail, sell them yourself on eBay and net about 87%
If not, expect to get 60% or less of "net eBay" pricing >>
I'll pay them $750/set cash for all of theirs. That's 50%
Someone was fishing for stupid
I wish they could be outed.
<< <i>Brick and mortar shops want no part of the eBay market
If not, expect to get 60% or less of "net eBay" pricing >>
The sad part is he wasn't even offered that. FWIW according to the OP it was a large dealer and not some mom & pop B & M.
He got offered $100 for something that should have brought $600 on eBay or OTC. Seems to me $400 would have been a fair offer.
is that YOUR offer?
www.brunkauctions.com
Arrogant
Pompous
Just a few words that come to my mind
And I am not talking about or to the OP
<< <i>>>Seems to me $400 would have been a fair offer>>
is that YOUR offer? >>
No, I'm not buying. If I was looking for one, that might be considered a good deal but also a lowball by the large dealer referred to in the OP.
<< <i>
<< <i>These are hot! They sell like hotcakes! I would say people that know and follow these 2012's they are just as hot or hotter then anything that has come out of the mint in years. They fluctuate a lot, sometimes the Hawaii goes for $650 then a week later they will sell for $800 (never below $650) Then the Acadia is just as hot and fluctuates more, on a good day they can sell in the upper $500's on a bad day upper $400's. The Denali and El Yunque go for $250-$300 a piece, there is a lager which is the Chaco Culture can't get out of it's way at $200. This dealer is huge, deals in everything new and old! In business (And very reputable)for a long time, and also I have done business with them many times.
Could it be possible she was looking up the non-P versions which go for about $200 a piece? Just thought of that! >>
That is very possible. I wouldn't assume that every coin dealer knows the market on every modern coin that is out there considering how many products the mint puts out each year. >>
EXACTLY.
<< <i>
<< <i>
<< <i>These are hot! They sell like hotcakes! I would say people that know and follow these 2012's they are just as hot or hotter then anything that has come out of the mint in years. They fluctuate a lot, sometimes the Hawaii goes for $650 then a week later they will sell for $800 (never below $650) Then the Acadia is just as hot and fluctuates more, on a good day they can sell in the upper $500's on a bad day upper $400's. The Denali and El Yunque go for $250-$300 a piece, there is a lager which is the Chaco Culture can't get out of it's way at $200. This dealer is huge, deals in everything new and old! In business (And very reputable)for a long time, and also I have done business with them many times.
Could it be possible she was looking up the non-P versions which go for about $200 a piece? Just thought of that! >>
That is very possible. I wouldn't assume that every coin dealer knows the market on every modern coin that is out there considering how many products the mint puts out each year. >>
EXACTLY. >>
When it's your business, you'd better know the market. You think that someone like MCM wouldn't know the relative market values of the various pucks in the ATB series?
It looks like the metals price decline has slowed traffic to B&Ms, so coin buying ,as a profit center, becomes very important
<< <i>The offer shows that the dealer has a low opinion of such merchandise. It probably has been a poor seller for him in the past or it is something for which he never gets a request. >>
true ..except .now Coin networks between dealers takes only a sales agreement and FedEx/USPS to complete..
My dealer friend at the B&M , bought 20 sets of the 2013 enhanced / reverse proofs.. only to quickly sell to a dealer in California
The problem with "hot" issues like this is that everyone who buys these from the Mint thinks they are pure gold and probably aren't going to be happy with anything less than full boat money. They see strong numbers on eBay but either are afraid to sell there or more often just don't want to be bothered with it... yet they go to local dealers expecting them to pay the exact same kind of money. The simple truth is that if a dealer, even one who is a strong payer, can't make any money on something then there's no reason for him to buy it.
Also-contrary to what some folks think, not all dealers deal in (or even care about) all US Mint issues; just because you have an interest in and/or own something doesn't by default mean that any and every buyer is going to be equally interested...or interested at all for that matter. For example, I don't deal in ATB pucks because I have never cultivated an OTC market for them here- certainly not at the silly numbers they seem to bring, which leaves me with either moving them on eBay or flipping them. Since everyone who owns them knows and expects eBayish numbers, I'll not be able to buy them at any reasonable margin reflecting my time and overhead...which leaves me with (assuming I make an offer) flipping on little to no margin to someone else later... and honestly I don't care to tie up capital in something for no gain when I can take that same money and put it into something with better margins that I can move quicker and that my clients actually want.
There are of course other dealers who actually specialize and make a market in such things...I should think sellers would want to target and seek out those buyers rather than complain about those who aren't specialists (or, yes, those who simply buy cheap). However, if they are expecting retail/Redbook/eBay prices then they'll likely be disappointed regardless.
Just my 2 cents.
RIP Mom- 1932-2012
<< <i>Perry, I just don't trust selling on ebay anymore. I think we are in a prime time for scams with all the new paypal rules. But, I would take my chance after that offer if I really needed the money. I will just stick them back in the safe. LOL >>
Get over your paranoia about selling on eBay. Abide by eBay's & PayPal selling guidelines, give accurate descriptions along with decent pictures. Be your own boss & stop listening to the same handful of eBay trashers. Believe me, they are in the minority. If you don't want to be tied into that idiotic 180 day return rule, avoid selling your coins during Nov & December. Sell your bullion products during those 2 month.
I paid $100.00 for it which was a great deal at the time.
The coin booked at between $300.00-$400.00.
Some years later, I gave it to the young son of a friend to put away, and I went on to explained to him that it was the finest known, and that only a few others had yet been discovered.
The young man was 15 years old and being somewhat curious, he took the coin back to the same coin shop where I had told him I had bought it to see how much they would pay him for it.
He said the guiys working the shop looked him over, and then looked at his coin.
They then offered him 7 dollars for it.
I was not a bit surprised.
As this coin market continues to lose viable liquidity outlets like Teletrade, I suspect that there will not be a very bright values future ahead for most lower rent coins.
P.S. Yes, he told them what it was.