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Buying coins from the public through CL or Ads?

logger7logger7 Posts: 8,070 ✭✭✭✭✭

I have had some experience buying from the public through Craigslist and local ads. From Craigslist I got a hustler type guy (among others) who got offers from a major in state dealer and then looked for my offers, so I had a professional's offers
to work from, I probably paid the guy too much, thousands of dollars much of it cash for
a collection he got as part of a CA friend's father that he helped out. Also on a local
ad I got a call from one of the CT governor's lawyers (as he identified himself) who didn't want to meet at
Starbucks, he didn't feel safe. So we met at the firehouse in Riverside; he changed the
terms of what he wanted for his collection; he had said his wife just wanted him to get rid of the collectibles, and wanted only cash. I felt hustled. Buying ideally is for experienced people, ideally teams of confidants IMO.

Is there a successful way to buy if you don't have a store? Run an ad and then offer to buy in an open gallery area at the local library, screening out unrealistic sellers?

Comments

  • AUandAGAUandAG Posts: 24,536 ✭✭✭✭✭

    If you do not feel comfortable with any, thats ANY, seller, walk away. You lost nothing if you walk.

    bob :)

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • 291fifth291fifth Posts: 23,936 ✭✭✭✭✭

    I tried that many years ago and found it to be a big mistake. The sellers were often rather strange, usually wanted to much and often tried to force items into the sale I had no interest in. I stopped doing it after a short while and am glad I did so.

    All glory is fleeting.
  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    There is no way I would advertise to buy coins on Craigslist or any social media site! Picture a big Buck with a huge Bullseye painted on it! A little common sense goes a long way! Do you walk out of a coin show with a badge on your chest that says you were at the coin show? That badge says ROB ME!

  • ShamikaShamika Posts: 18,760 ✭✭✭✭

    There's a guy I work with who does it all the time. He's actually found some very good deals, but he always asks a lot of questions about the items (usually coins) before he bothers to meet the sellers.

    Remember, much like ebay, or even a used car dealer, you have to be smart about it. And like @AUandAG said, if you do not feel comfortable with any seller, walk away.

    Buyer and seller of vintage coin boards!
  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    There are risks when dealing w/$$ whether it's at a coin show or shop, or via the net. I have had -0- problems buying coins via CL because I take
    the necessary precautions to protect myself.

  • CoinCrazyPACoinCrazyPA Posts: 2,899 ✭✭✭✭

    I've sold a few gold coins to a buyer who was wabting to buy jewelry and coins. He was a bit if an odd character though. I don't have the patients to deal with the scams that some people try and pull on CL.

    Positive BST transactions: agentjim007, cohodk, CharlieC, Chrischampeon, DRG, 3 x delistamps, djdilliodon, gmherps13, jmski52, Meltdown, Mesquite, 2 x nibanny, themaster, 2 x segoja, Timbuk3, ve3rules, jom, Blackhawk, hchcoin, Relaxn, pitboss, blu62vette, Jfoot13, Jinx86, jfoot13,Ronb

    Successful Trades: Swampboy,
  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    I have not used Craigslist.
    I used to run ads in local papers, but just got people with crap wanting a free appraisal, and then insulted and untrusting when they were told it had little value.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    While I am sure that there will be the occasional deal to be found in such venues, IMO, it is a risky venture. When you expose yourself, with cash, you are taking a chance. Yes, safe areas to meet will help...however, you will have to leave the area, can be followed etc.. Try to arrange the meeting at the local police station...they usually have a lobby. That may squash a few deals... :D Cheers, RickO

  • YQQYQQ Posts: 3,273 ✭✭✭✭✭

    Hello Ricko, and others.
    Great subject and applicable to most of us.
    Although a great suggestion, I guess the Police station lobby is part of the past. at least in Western Canada where I live. Police HQs are now all impenetrable fortresses where it is close to impossible to get in unless you go through "proper procedures or you are known in a good or bad way.
    Big lobbies with beautiful old front reception desks in these old, usually and ironically called "public safety building", are a thing of the past and are replaced with all types of electronic readers. And, believe it or not, our local Cop Shop has preset office hours! "after hours business" is conducted on a intercom and Video by the outside door.
    So, meeting there to make a deal about a collection is a "no fly zone".

    Now, Ricko, this is ironic because of your name and a very coincident and hopefully you will all have an approving smile in your face reading it :
    One of my neighbors has a kennel full of specialty trained German Sheppard dogs. One is a dog named Rico. He is a medium-large size, very smart and powerful 3 year old German Sheppard. He is trained to detect and defend and together with his handler they do special guard jobs in all sorts of security matters. When at a job, Rico often wears a badge on a Kevlar jacket identifying him as a security dog, but he is not a police dog.
    As per this thread, the security aspect when out buying coins has come up in our discussions fairly frequently, and it is a serious concern. So my neighbor has suggested numerous times "take Rico along" when you buy a collection.
    My friend says it will only take a few minutes and he will follow certain commands from me.

    Today is the first day of the rest of my life
  • logger7logger7 Posts: 8,070 ✭✭✭✭✭
    edited October 16, 2017 5:48PM

    I know a guy who was fed up on ebay, started buying and selling on CL with mixed results. He has an antique shop in NH, but goes out to meet prospective business people at McD's etc.. Arrives an half hour early packing heat just in case.

    The local police advertised their property for meeting CL people just in case. Apparently a number of local residents were nervous Nellies, didn't want to do business on their own property.

  • ShadyDaveShadyDave Posts: 2,186 ✭✭✭✭✭

    Not worth my time. Way to many crazies on CL. They don't show up, change the terms, try to haggle or are just creeps.

  • USMarine6USMarine6 Posts: 1,936 ✭✭✭✭✭

    I've had surprisingly good luck off of CL. I've even bought a Charlotte gold piece once

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    @ShadyDave said:
    Not worth my time. Way to many crazies on CL. They don't show up, change the terms, try to haggle or are just creeps.

    Can you change "CL" above to "CU" B)

  • AUandAGAUandAG Posts: 24,536 ✭✭✭✭✭

    Police station? You've got to be kidding. I had a visitor that was in town and we went to the shooting range (he had a new Browning 1911, 45ACP that he wanted to shoot. All went good till we came home, went into the house to change before going to dinner. Came out and found his truck had been rummaged through and the pistol was gone.
    Back into the house and checked the cameras and had the two perps on film, plain as day and up close and personal. Decided a trip to the local station was in order even though it was Saturday night. Well, they are closed on weekends and at 5pm on weekdays. No lobby available, no cop available, no nothing.
    Called the non emergency line to report the burglary and was told we had to go to the mail Police station downtown to make a report. Cannot do it over the phone.
    Well, did that and then told the officer we had the perps on film and they did not care one bit. Would not even look at the photos. Had no interest.
    So, we called local 13 to see if they would run the tape and see if we could catch the two perps. They did run on the evening news and lo and behold one of the perps Mom saw her kid and phoned his name and such to the news station. again called the police as we now had an officers name and finally got a case opened. The perps were arrested, and they found dozens of guns and stolen computers, phones, etc. The trial has not begun but they are both adults and will see what camera evidence does to them (the dectective assigned the case finally got the footage). Cops still have the gun and it's been well over a year now......evidence for the trial.

    So, those days are gone at least here in Vegas.

    bob

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭

    @USMarine6 said:
    I've had surprisingly good luck off of CL. I've even bought a Charlotte gold piece once

    My CL purchases through the years:


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