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How much does the dealer normally charge if I trade in coins of same value?
TurboSnail
Posts: 1,668 ✭✭✭✭✭
Assuming if I trade in coin value at $80 each in exchange of dealer's other coin of same value per coin? Thanks again.
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TurboSnail
Posts: 1,668 ✭✭✭✭✭
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There are no hard and fast answers to this question. Generally it will be his retail price against your coin at its wholesale price. What your coin is worth to him depends upon how much he needs it. He might not want it at all which would mean you might not be able to make a deal or the offer would be ultra low. If he needs it for another customer, you might do better, although some guys like to play games and have to "steal" everything they trade for or buy.
My philosophy has always been, if I need it, I'll pay a bit more. If I don't need then, I'll take it for stock or my collection if the numbers are right. If it is totally out of my realm, I'll pass.
How did you value your coin at $80 and what types of coins are you trading?
Assuming the dealer has a coin with an $80 price tag on it and your coin is also worth $80 retail to the dealer then I'd guesstimate around $20 + your coin. There are so many variables that it could be anything from a straight up trade to you going $60 + your coin. Without knowing how you, and your dealer, value the pieces there is no one answer.
Without specifics and great pictures, this question cannot be answered with any degree of accuracy. Not to mention the personal situation of the dealer (such as mentioned above)...Cheers, RickO
As others mentioned it really depends on both the coin and the dealer. A while back I wanted to trade 5 of my 1/10 gold eagles for a dealer's 1/2 oz gold eagle. Usually the premium is higher for the 1/10 oz so I thought the dealer would be happy to do a straight trade...nope...he quoted spot for my 1/10 Eagles and around $60 over for his 1/2 oz (he wanted me to pay $60 extra for his, and it wasn't a rarer date)...I haven't been back to that dealer's shop.
If the dealer doesn't want your trade you may do better just selling your coin on the bst or ebay and then using the funds to purchase what you want.
Thanks guys. After reading your suggestion and input, I do believe it would be my best interest to sell online instead of trade in. 15% fee plus cost of shipping will always be lower than 40% margin( -20% of my coin value & -20% off dealer's full retail price if offer in cash)
Thanks guys. After reading your suggestion and input, I do believe it would be my best interest to sell online instead of trade in. 15% fee plus cost of shipping will always be lower than 40% margin( -20% of my coin value & -20% off dealer's full retail price if offer in cash)
I had this happen yesterday at a show. A customer wanted trade in his coin as part of a deal (his coin plus cash). He offered it to me at CDN bid (PCGS 65 Buffalo - common date) which I accepted.
I am willing to take trade in of material at CDN Bid assuming I can use it for inventory. At a show I may discount coins a bit below what I have to mark them up for eBay so somebody trying to get above bid on a trade in at a show will make things more complex, especially if what I am selling him had been discounted significantly below MV (TPG price guide, CW, NN).
If somebody wants above bid on a trade in I have to look at how it affects the overall deal.
As little as he thinks he can get away with.
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