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Why Coin Dealers Drink - Part CDXLI

nencoinnencoin Posts: 1,221 ✭✭✭✭

I got a phone call today from someone with slabbed coins that he wanted to sell. He said he did not want to sell them to a dealer, but instead to a "numismatic person." I explained that we buy and sell coins and that I would be interested in hearing what he had. He repeated that he did not want to sell the coins to me, or anyone else who resells them for a higher price because "he would make less money on them." He then asked me for a numismatic collector that he could contact to sell the coins to. I told him I was sorry but that there was nothing I could do for him.

I guess he didn't like the concept of using a "middleman" to sell his coins, but he was happy to ask said "middleman" for some customers' names so he could contact them directly.

Comments

  • OldEastsideOldEastside Posts: 4,602 ✭✭✭✭✭

    :#

    Promote the Hobby
  • OldEastsideOldEastside Posts: 4,602 ✭✭✭✭✭

    :#

    Promote the Hobby
  • PTVETTERPTVETTER Posts: 5,880 ✭✭✭✭✭

    You can't believe some of the calls I get.

    Pat Vetter,Mercury Dime registry set,1938 Proof set registry,Pat & BJ Coins:724-325-7211


  • logger7logger7 Posts: 8,011 ✭✭✭✭✭

    I guess he doesn't understand the cost of doing business. Numismatic charities inc., a certified 5013(c) charity. You need to hit the bottle hard tonight or if you can't drink like many I know, get to an AA meeting.

  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭

    Good one, Fred! I do not miss that part of retail.

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • dbldie55dbldie55 Posts: 7,717 ✭✭✭✭✭

    But......the customer is always right.

    Collector and Researcher of Liberty Head Nickels. ANA LM-6053
  • Wabbit2313Wabbit2313 Posts: 7,268 ✭✭✭✭✭

    It's as good a reason as any to drink I guess.

  • TreashuntTreashunt Posts: 6,747 ✭✭✭✭✭

    But, But...

    Why couldn't you just give them the White pages phone book?

    Frank

    BHNC #203

  • astroratastrorat Posts: 9,221 ✭✭✭✭✭

    When I worked in a shop, I was on the front lines of answering cold calls from the public, in person and on the phone [just like many of you do as well]. After a while, I realized that getting irritated at somebody's "stupidity" was fruitless.

    A common occurrence was once the person felt they has "schooled me" on their remarkable treasures, I would help them find other avenues so they could talk with the "real" expert. Some of the most precious moments of the day were when those same folks would return, often humbled, but sometimes enraged, to re-engage in the same conversation only to realize that they heard the truth during their first visit to our shop. People are a never-ending source of wonder.

    Numismatist Ordinaire
    See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
  • coindeucecoindeuce Posts: 13,471 ✭✭✭✭✭

    There is an old adage about people like the OP's caller. "He could squeeze the poop out of a Buffalo nickel."

    "Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
    http://www.americanlegacycoins.com

  • GoldenEggGoldenEgg Posts: 1,919 ✭✭✭✭✭

    Could have given him the numbers to other dealers in town. Maybe they could hook him up with one of those numismatic people. :)

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭
    edited June 29, 2017 5:26PM

    I guess this is the other end of the normal curve, of people dealing with numismatics.

    Essentially, we have the person who doesn't know very much about the intricacies of numismatics (and why should they?), who know minimally enough that people are ripped off repeatedly by TV infomercials, glowing newspaper adds about recently discovered hoards of coins (requiring armed guards to protect), and (yes) "dealers" who pronounce your grandfather's collection to be worthless beyond face value, only to learn later that they likely made a killing off of one of two of the coins you surrendered for peanuts. For all the people who show up with junk, there truly are those who vastly undersell their antique, their painting, their coin etc. to the "dealer" or who spots an uninformed mark.

    It's a rough world out there. Unpleasant, certainly, for the many honorable dealers, but understandable when you consider people regularly get fleeced by the con-men.

  • GRANDAMGRANDAM Posts: 8,353 ✭✭✭✭✭

    You should have given him your home phone number and told him you know a collector who will be home later in the evening,,,,,

    GrandAm :)
  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    @Wabbit2313 said:
    It's as good a reason as any to drink I guess.

    Who needs a reason? :):)

  • RYKRYK Posts: 35,772 ✭✭✭✭✭

    @PTVETTER said:
    You can't believe some of the calls I get.

    Do tell!

  • Natchez14Natchez14 Posts: 81 ✭✭

    @CoinRaritiesOnline said:

    @GoldenEgg said:
    Could have given him the numbers to other dealers in town. Maybe they could hook him up with one of those numismatic people. :)

    Don't give him any ideas - I'm just down the road.

    Which made me wonder- when someone like this shows up to your booth at a coin show, do any of you recommend he "go see Joe at booth 103, he specializes in that" just to irritate the heck out of Joe?! :o

    Successful transactions with Schmitz7, Bigbuck1975, chumley, CCHunter, Smittys, Gerard, Tookybandit, MorganMan94, LogPotato, coinlieutenant, GoldCoin98, pcgs69, Kccoin, ajaan, JBN, BLee23,....

  • Natchez14Natchez14 Posts: 81 ✭✭

    @nencoin said:
    I got a phone call today from someone with slabbed coins that he wanted to sell. He said he did not want to sell them to a dealer, but instead to a "numismatic person." I explained that we buy and sell coins and that I would be interested in hearing what he had. He repeated that he did not want to sell the coins to me, or anyone else who resells them for a higher price because "he would make less money on them." He then asked me for a numismatic collector that he could contact to sell the coins to. I told him I was sorry but that there was nothing I could do for him.

    I guess he didn't like the concept of using a "middleman" to sell his coins, but he was happy to ask said "middleman" for some customers' names so he could contact them directly.

    He couldn't come into your store because his balls were too big to fit through the door.

    Successful transactions with Schmitz7, Bigbuck1975, chumley, CCHunter, Smittys, Gerard, Tookybandit, MorganMan94, LogPotato, coinlieutenant, GoldCoin98, pcgs69, Kccoin, ajaan, JBN, BLee23,....

  • Mission16Mission16 Posts: 1,413 ✭✭✭

    My response: "What possible reason or benefit would I have to give you the contact information of someone who MIGHT buy your coins when you haven't even given me the chance to make you an offer?"

    Customers are a funny group: I work in a home improvement field. I'm always amused when I quote a project and have the lowest bid and the customer tosses this one out: "ABC Co. is offering 5% discount for 4th of July." They always seem confused when I say "No" as I point out my bid was 10% less than the competitor.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    First of all, I really enjoy these stories. Second, the coin business is rife with tales of 'treasures found' by non numismatists.... I am not a dealer, however, when I was working, I was a well known collector. Many people would bring me their coins to ask 'What are they worth?' or to show me the amazing investment they got from TV.....Being a long time - and successful - business person, I would use the utmost degree of diplomacy when informing them of the real value of their 'treasures'. Invariably it would result in anger (sometimes overt) and disbelief..... always thought I was trying to cheat them (and this without any offer to buy) out of a fortune. I even showed them in the Redbook (I kept in my office) the value stated there. Only once did an individual come back and apologize after finding out I was correct. Two people never spoke to me again. People are very embarrassed when they find out they have been conned - and anger covers this. Cheers, RickO

  • StorkStork Posts: 5,205 ✭✭✭✭✭

    Rare is the person who comes back later and apologizes when they are embarrassed---either by the con or by their behavior.


  • SaorAlbaSaorAlba Posts: 7,466 ✭✭✭✭✭

    I distribute wine and some liquor for a living. You can just have to imagine the stories I can share about that business. My personal fave was the obviously "under the weather" over-imbibed person inquiring about getting a job for my company. Most of the time my job is actually fun and enjoyable. Unfortunately the 1% of fools like the reformed alchies that go off on religious/morality diatribes make for my future interesting novel.

    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
  • ashelandasheland Posts: 22,612 ✭✭✭✭✭

    $1400 buys a lot of alcohol. :D

  • LanceNewmanOCCLanceNewmanOCC Posts: 19,999 ✭✭✭✭✭

    ttt

    <--- look what's behind the mask! - cool link 1/NO ~ 2/NNP ~ 3/NNC ~ 4/CF ~ 5/PG ~ 6/Cert ~ 7/NGC 7a/NGC pop~ 8/NGCF ~ 9/HA archives ~ 10/PM ~ 11/NM ~ 12/ANACS cert ~ 13/ANACS pop - report fakes 1/ACEF ~ report fakes/thefts 1/NCIS - Numi-Classes SS ~ Bass ~ Transcribed Docs NNP - clashed coins - error training - V V mm styles -

  • SmudgeSmudge Posts: 9,208 ✭✭✭✭✭

    If I were one of your regular customers, I would resent it if you gave my number to a jackass like that.

  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    Fred, I do Instagram and get all of the Instagram PMD questions. Day after day. Just part of the job.

    @FredWeinberg said:
    Dealing (and advertising) in Mint Errors,
    you wouldn't believe the 'error' calls I get.

    Sample:
    Me: 'Your Coin was run over by a train"
    They: "Why would the Mint do that?"

    or, even more fun, someone calls or emails me saying
    that their local dealer, or an organization, or whoever,
    told them that I'm an 'expert' in mint error coins. However,
    when I tell them that their all copper-quarter is plated,
    they reply: "Well, you just don't know what the hell your'e
    talking about. Of Course it's real, genuine, and worth a fortune".

    I've got dozens more - maybe I'll relate some of them at the ANA
    at my table, if anyone needs a laugh. You can't believe what some
    people think they have, how the mint made it, and/or I'm wrong.

    As I've told many of you who know me, when my friends at a
    show see me do this hour after hour, day after day, year after
    year, decade after decade,dealing with folks who have found
    some type of error in their pocket change, and all that it entails,
    and boy, does it entail (!), and they ask me "how do you do it?"
    my reply is :smile:

    "Along time ago, I figured that it's either part of my Job Description,
    or part of my Punishment"

  • BustDMsBustDMs Posts: 1,563 ✭✭✭✭✭

    @nencoin said:
    I got a phone call today from someone with slabbed coins that he wanted to sell. He said he did not want to sell them to a dealer, but instead to a "numismatic person." I explained that we buy and sell coins and that I would be interested in hearing what he had. He repeated that he did not want to sell the coins to me, or anyone else who resells them for a higher price because "he would make less money on them." He then asked me for a numismatic collector that he could contact to sell the coins to. I told him I was sorry but that there was nothing I could do for him.

    I guess he didn't like the concept of using a "middleman" to sell his coins, but he was happy to ask said "middleman" for some customers' names so he could contact them directly.

    I offer to sell them a list of “qualified” buyers. 😉

    Q: When does a collector become a numismatist?



    A: The year they spend more on their library than their coin collection.



    A numismatist is judged more on the content of their library than the content of their cabinet.
  • cameonut2011cameonut2011 Posts: 10,060 ✭✭✭✭✭

    @nencoin said:
    I got a phone call today from someone with slabbed coins that he wanted to sell. He said he did not want to sell them to a dealer, but instead to a "numismatic person." I explained that we buy and sell coins and that I would be interested in hearing what he had. He repeated that he did not want to sell the coins to me, or anyone else who resells them for a higher price because "he would make less money on them." He then asked me for a numismatic collector that he could contact to sell the coins to. I told him I was sorry but that there was nothing I could do for him.

    I guess he didn't like the concept of using a "middleman" to sell his coins, but he was happy to ask said "middleman" for some customers' names so he could contact them directly.

    Give him the name and a Google voice number tied to one of your employee's cell phone numbers. Offer him even less for being a jack ass. >:)

  • cameonut2011cameonut2011 Posts: 10,060 ✭✭✭✭✭

    @BustDMs said:

    @nencoin said:
    I got a phone call today from someone with slabbed coins that he wanted to sell. He said he did not want to sell them to a dealer, but instead to a "numismatic person." I explained that we buy and sell coins and that I would be interested in hearing what he had. He repeated that he did not want to sell the coins to me, or anyone else who resells them for a higher price because "he would make less money on them." He then asked me for a numismatic collector that he could contact to sell the coins to. I told him I was sorry but that there was nothing I could do for him.

    I guess he didn't like the concept of using a "middleman" to sell his coins, but he was happy to ask said "middleman" for some customers' names so he could contact them directly.

    I offer to sell them a list of “qualified” buyers. 😉

    I love it!

  • joebb21joebb21 Posts: 4,732 ✭✭✭✭✭

    @nencoin you should have offered to give him a "direct collector" but tell him that you want a 10% commission on the sale since you facilitated it.

    may the fonz be with you...always...
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,794 ✭✭✭✭✭

    One of my customers who sells liquor told me this has been his best year of sales, in 26 years. I hear ya.

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