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Ever Had a Dealer Let You Set the Price on a Coin?

CoinosaurusCoinosaurus Posts: 9,614 ✭✭✭✭✭

I was at the EAC convention in 2016 admiring a contemporary counterfeit. Dealer says "I have no idea what this is worth, just pay me what it's worth to you." It was worth $20 to me and the deal was done :)

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    RichieURichRichieURich Posts: 8,372 ✭✭✭✭✭

    So we are all curious, what was it?

    An authorized PCGS dealer, and a contributor to the Red Book.

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    RichieURichRichieURich Posts: 8,372 ✭✭✭✭✭

    Oh, and to answer your question, I've done that a few times.

    An authorized PCGS dealer, and a contributor to the Red Book.

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    CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    When I offer an arm...he wants a leg.

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    ZoinsZoins Posts: 33,900 ✭✭✭✭✭

    I've had a few sellers ask me to set the price. I try to be very reasonable and actually find it to be a lot of responsibility depending on the seller.

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    1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    No, never.............might be nice though :smile:

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

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    mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    @Coinosaurus said:
    I was at the EAC convention in 2016 admiring a contemporary counterfeit. Dealer says "I have no idea what this is worth, just pay me what it's worth to you." It was worth $20 to me and the deal was done :)

    Now that's the way to conduct business!
    (Also means he had -0-in the coin....but hey, after all, his cost isn't relevant as long as you're happy with the deal.

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    oih82w8oih82w8 Posts: 11,902 ✭✭✭✭✭

    Yes on a couple of occasions, both buying and selling...sometimes it works...other times...not.

    oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's

    BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore...
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    2ndCharter2ndCharter Posts: 1,642 ✭✭✭✭✭

    Yes, it happened to me at the Fall ANA in Dallas in 2012. I asked a dealer about a particular item (which was marked at about twice what I thought it was worth). He responded, "What are you willing to pay for it?" I told him the night before in the Heritage auction that I had paid X amount for two slightly better items but would be willing to pay that same amount for his. He just turned his back and wouldn't talk to me.

    Member ANA, SPMC, SCNA, FUN, CONECA

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    joebb21joebb21 Posts: 4,733 ✭✭✭✭✭

    usually that means there is "no value" to the coin and the dealer has it at a cost of $0-1 and basically any offer would be net +

    may the fonz be with you...always...
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    tommy44tommy44 Posts: 2,195 ✭✭✭✭✭

    Well, sort of. I have had offers on eBay accepted, Doe's that count as a yes?

    it's crackers to slip a rozzer the dropsy in snide

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    RYKRYK Posts: 35,789 ✭✭✭✭✭

    Yes, Mr. Eureka sent me an 1849-O gold dollar with a blank invoice. He said that I could pay whatever I thought it was worth. It was a great coin, and I probably paid more than he would have asked. It was a brilliant move on his part.

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    ldhairldhair Posts: 7,124 ✭✭✭✭✭

    I have had a dealer quote a price and after I said no but thank you, he ask if we were close. Thought that was a nice friendly way of dealing.

    Larry

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    TwoSides2aCoinTwoSides2aCoin Posts: 43,849 ✭✭✭✭✭

    Every day of my life. It doesn't always turn into a transaction, but it's an exercise in understanding my counterpart.

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    I have not had that happen, and having attended many, many shows - and visited shops - I would be truly surprised if such an offer were to be made. I believe the seller should price the product. My bid, in such a case, would likely be embarrassingly low. As a buyer, I insist on the privilege of acceptance or rejection. My money, my rules. Cheers, RickO

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    mustangmanbobmustangmanbob Posts: 1,890 ✭✭✭✭✭

    Very common experience, probably 15 time this last weekend.

    Examples: Price not marked, how much? Prices is 4x what I would pay. I say thanks, and keep moving. His response: How much would you pay for it, and I say, thanks, we are too far apart.

    Price not marked, how much, I don't know, what is it worth to you. I say X, he says OK. Deal made.

    Price not marked, how much, I don't know, what is it worth to you. I say X, he says, 3X, I say thanks and move on.

    Price marked, look at price, and put it back. He says how much, I say .3X, he says .35X, deal made.

    Price not marked, he says what is it worth to you, I say X, he says, we're not close, no deal.

    It is just normal back and forth. No shouting, no anger, just opinions on what value is, and how strong the desire is to buy or sell.

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    sellitstoresellitstore Posts: 2,491 ✭✭✭✭✭

    Yes, and I have made offers and done this as a seller, too, but only when I'm not sure of price and trust the other party.

    I agree that the seller should set the price and if the buyer does this, it's usually advantageous to the seller, not the buyer.

    Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.
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    AblinkyAblinky Posts: 625 ✭✭✭
    edited September 26, 2017 8:58AM

    Yes, when I was at a CSNS show and asked for a price on a 45-S in 66 and the person behind the table said it was bought buy another employee but had no what they paid for it so he rattled off some CCE numbers and I made an offer that was then accepted.

    Andrew Blinkiewicz-Heritage

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    No HeadlightsNo Headlights Posts: 2,039 ✭✭✭✭✭

    For the reasons Bill Jones stated I don't want to state the first price. It's their coin, the dealer should start the negotiations. Only exception is two dealers that I almost never dicker with. They both have great coin eyes and price very fairly. I don't want to fall off their A list of clients. On the rare occasion I don't like their price I just state the coin isn't for me.
    I do enjoy negotiating, with the understanding it needs to work for both parties .

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    LakesammmanLakesammman Posts: 17,294 ✭✭✭✭✭

    I've received some low ball offers on eBay - they quickly get on my block list. :D

    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko.
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    CaptHenwayCaptHenway Posts: 31,561 ✭✭✭✭✭

    Calling Mr. HalfDime..... Didn't I sell you that 1849/6 this way?

    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.
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    CommemDudeCommemDude Posts: 2,196 ✭✭✭✭✭

    Did it once at a local show and I was sorry...

    Dealer had an MS67 Columbian NGC marked 8K, asked me what I would pay, I said in a friendly way that I would not pay more than 3000 for the coin and he accepted (!); I later found out these were trading for 2700 in recent Heritage auctions so that taught me to double check current prices in a declining market before buying anything

    Dr Mikey
    Commems and Early Type
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    BillJonesBillJones Posts: 33,485 ✭✭✭✭✭

    Many years ago I spotted a half cent at a reginal show that fit in my collection. It was a common date and lightly circulated. I asked the dealer what he wanted.

    "$110" was his answer.

    I declined.

    "What do you want to pay?" he asked.

    "You would be embarrassed at my offer," I replied.

    "Embarrassed me!" he responded.

    "$55" was my response.

    He took it.

    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 ... ?

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