Other than perhaps your intellect/talent, your relationships are your most important and valuable asset, in your career, your personal life, and, yes, in the coin hobby.
You can own a "hot" coin in a depressed market. It just means it will sell quickly at the new price point. If the market has moved back, it does not mean your coin is still worth what you paid. You were NOT low balled and given the data for that coin, I believe a reasonable wholesale buy offer. Clearly, you can get more money selling it yourself, i.e. becoming a dealer.
Anytime you offer a coin to a dealer, understand you will get a current market based price. What happened a couple of years ago is not relevant. If I walked in off the street and received the same offer, given the sales history and condition of that coin, I would NOT be angry. I would expect something +/- $ 500 of what he offered.
You get to vote with your feet, and you did. Just don't be angry about a reasonable market offer from a dealer. The fact that you bought the coin from him has zero to do with the next transaction, other than you both know where you stand with the coin. The market moved lower, not higher. Selling a high dollar coin yourself will always save you money.
The last question is, how many people here would buy a coin from Doug, count me in as a big YES.
Retired United States Mint guy, now working on an Everyman Type Set.
Comments
Other than perhaps your intellect/talent, your relationships are your most important and valuable asset, in your career, your personal life, and, yes, in the coin hobby.
Definitely -- words of wisdom.
Anytime you offer a coin to a dealer, understand you will get a current market based price. What happened a couple of years ago is not relevant. If I walked in off the street and received the same offer, given the sales history and condition of that coin, I would NOT be angry. I would expect something +/- $ 500 of what he offered.
You get to vote with your feet, and you did. Just don't be angry about a reasonable market offer from a dealer. The fact that you bought the coin from him has zero to do with the next transaction, other than you both know where you stand with the coin. The market moved lower, not higher. Selling a high dollar coin yourself will always save you money.
The last question is, how many people here would buy a coin from Doug, count me in as a big YES.