Ok, so carrying a lot of cash to a show is "dangerous." But, carrying the same amount of value in rare coins isn't? How about vest pocket dealers or even show dealers on the last day walking out of the Baltimore Convention Center with $100K to $1 MILL in coins? It's not cash so they are safe, right?
Just because someone "vouches" for you doesn't mean you're golden. I did a transaction with a long time dealer who was life member ANA, ICTA, PCGS/NGC submitter, etc. Multiple dealers who I respected vouched for them. They stiffed me for $11K. Any dealer or any collector can go rogue. That's what insurance and/or courts are for. These days, I do an extra step of DD.
I see no problem with accepting a check from an unknown party and them shipping it out once funds clear. If they don't like that, then tough. Either that or supply some bullet proof references at the show. I always brought a $thousand or two in cash to shows to accommodate dealers who didn't know me, or preferred the cash. If you find a cherry pick you don't want to be fighting over check acceptance. You just want the rip in your hands. PCGS founder Gordon Wrubel was unknown to me in 2004 and I carded him for his check on a $1200 coin he wanted. When I found out who he was 2 min later I took his check....he was buying for ANR/QDB at the time.
Originally posted by: Hydrant My favorite dealer seems to prefer checks. Who knows why? I never ask questions about anybody's personal business; because it's none of my business.
Because he does not want to go hone carrying cash. I've had a well known dealer ask me to pay him with a check when I offered him cash.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
I've lost a few buys because people demanded cash (on the B&M dealer's side of the counter) Demands are like terroristic threats, to me (sometimes). I do not bow down for cash and think maybe some think it's the only REAL DEAL, but will happily stand behind the checks & balances that the banker, lawyer , accountant and IRS use.
Money spends the same. The code doesn't change, only certain attitudes. Electronic payments get expensive, though they're just as secure to me, for the most part. It's costlier to eat those fees when they're not factored into the profit margin after a buyer's done making his deal and whips out the old plastic card… My bad.
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Just because someone "vouches" for you doesn't mean you're golden. I did a transaction with a long time dealer who was life member ANA, ICTA, PCGS/NGC submitter, etc. Multiple dealers who I respected vouched for them. They stiffed me for $11K. Any dealer or any collector can go rogue. That's what insurance and/or courts are for. These days, I do an extra step of DD.
I see no problem with accepting a check from an unknown party and them shipping it out once funds clear. If they don't like that, then tough. Either that or supply some bullet proof references at the show. I always brought a $thousand or two in cash to shows to accommodate dealers who didn't know me, or preferred the cash. If you find a cherry pick you don't want to be fighting over check acceptance. You just want the rip in your hands. PCGS founder Gordon Wrubel was unknown to me in 2004 and I carded him for his check on a $1200 coin he wanted. When I found out who he was 2 min later I took his check....he was buying for ANR/QDB at the time.
My favorite dealer seems to prefer checks. Who knows why? I never ask questions about anybody's personal business; because it's none of my business.
Because he does not want to go hone carrying cash. I've had a well known dealer ask me to pay him with a check when I offered him cash.
Demands are like terroristic threats, to me (sometimes). I do not bow down for cash and think maybe some think it's the only REAL DEAL, but will happily stand behind the checks & balances that the banker, lawyer , accountant and IRS use.
Money spends the same. The code doesn't change, only certain attitudes. Electronic payments get expensive, though they're just as secure to me, for the most part. It's costlier to eat those fees when they're not factored into the profit margin after a buyer's done making his deal and whips out the old plastic card…
My bad.
``https://ebay.us/m/KxolR5