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Same coin, two dealers?

savitalesavitale Posts: 1,409 ✭✭✭✭✭

The coin on the left is being sold by Northeast Numismatics. The coin on the right is being sold by APMEX. Am I missing something here? Do some dealers co-list coins?

Comments

  • blitzdudeblitzdude Posts: 6,497 ✭✭✭✭✭

    Probably stock photos. Sure the bong smoking cop dude will chime in on the subject lol

  • BochimanBochiman Posts: 25,556 ✭✭✭✭✭

    Oh, and dealers DO co-list coins but, in this case, I think winning every state lottery at the same time is probably a better bet

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • giantsfan20giantsfan20 Posts: 1,699 ✭✭✭✭

    What condtion and prices are they charging?

  • ParadisefoundParadisefound Posts: 8,588 ✭✭✭✭✭
    edited May 10, 2018 8:05PM

    @Pokermandude said:
    I'm going to go out on a limb and say Apmex lifted the photo and is using it as a "stock" image.

    +1 and calling @Acop

  • AzurescensAzurescens Posts: 2,779 ✭✭✭✭✭

    @blitzdude said:
    Probably stock photos. Sure the bong smoking cop dude will chime in on the subject lol

    He should really switch to smoking straight flower. Some of the most beneficial chemicals are water soluble and some lost.

  • savitalesavitale Posts: 1,409 ✭✭✭✭✭

    @Pokermandude said:
    I'm going to go out on a limb and say Apmex lifted the photo and is using it as a "stock" image.

    Stock photo??? I'm not saying that's incorrect, but using a stock photo for a 1918/7-D nickel would seem unethical in this case. It's one thing for generic $20 gold, but I mean, how many VF 1918/7-D's could they have lying around to sell?

  • blu62vetteblu62vette Posts: 11,943 ✭✭✭✭✭

    First I would trust Northeast. Second I doubt APMEX would hijack someones else image for their own. Last, we all know APMEX is a mega huge seller on eBay. The fee structure is insane compared to what other can get. Others likely have them list coins for them for the benefits of the fee savings.

    http://www.bluccphotos.com" target="new">BluCC Photos Shows for onsite imaging: Nov Baltimore, FUN, Long Beach http://www.facebook.com/bluccphotos" target="new">BluCC on Facebook
  • savitalesavitale Posts: 1,409 ✭✭✭✭✭
    edited May 10, 2018 8:44PM

    @blu62vette said:
    First I would trust Northeast. Second I doubt APMEX would hijack someones else image for their own. Last, we all know APMEX is a mega huge seller on eBay. The fee structure is insane compared to what other can get. Others likely have them list coins for them for the benefits of the fee savings.

    So you're basically saying APMEX is cross-listing Northeast's coin on their website. APMEX presumably gets some small percentage if it sells through them. OK, that's fine, I've just not encountered this situation before. Maybe APMEX is the new eBay?

  • AzurescensAzurescens Posts: 2,779 ✭✭✭✭✭

    Gross

  • BillDugan1959BillDugan1959 Posts: 3,821 ✭✭✭✭✭

    There are like five dealers in France/Belgium and two in Canada who seem to list up the same coins on eBay. Seems perfectly legitimate in their instances. It is even possible some of these folks are blood relatives. You gotta cast your nets far and wide to sell coins today.

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Interesting !!! ;)

    Timbuk3
  • jdimmickjdimmick Posts: 9,772 ✭✭✭✭✭

    I usually see dealers partner on a coin or co list coins in the past, they usually work with one another closely, or have very good relationships, but in this case. Don't believe that is the case with this one

  • 1630Boston1630Boston Posts: 14,111 ✭✭✭✭✭

    You would probably get an answer from @nencoin here quicker than APMEX :smile:

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

    Bad transactions with : nobody to date

  • GreeniejrGreeniejr Posts: 1,321 ✭✭✭

    I cannot speak to any specific case but I can definitely give insight generally. Dealers will list coins that are owned by other dealers on their own website. Often times this is not with their knowledge but if coins are selling, most high volume, generalist dealers really don't care. A prime example is Heritage's coin of the day. They will send out their coin of the day email to dealers. There are a few dealers who will then blast it to their retail clients at a moderate markup if they think it might stick. I have also been offered the same coin by multiple people at multiple prices. Again, if it sells, everyone is happy. In this case, APMEX and NEN have very different market niches and clientele. If APMEX will pay NEN's price and sell it to their client who would otherwise not find the coin so be it. There are a lot of companies with symbiotic relationships where they share inventory lists and pictures.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    One phone call would clear up the issue.... ;) Cheers, RickO

  • DrPeteDrPete Posts: 1,497 ✭✭✭

    I see no problem with two dealers marketing the same coin and working out their private deals as they wish. A possibility also exists that the coin changed hands and the first dealer forgot to take it off his web site.

    Dr. Pete
  • oldgoldloveroldgoldlover Posts: 429 ✭✭✭

    No not at all. I know of one dealer that sells out of another dealers inventory on an ongoing basis. I contacted the owner of a coin and he was not to willing to give details but he confirmed it. It was obvious which one was the owner as he offered the coins at a slightly lower cost. Not illegal but collectible dealing is cowboys and Indians.

  • ACopACop Posts: 1,479 ✭✭✭✭✭

    I don't even want to join this conversation.

  • The vast majority of Apmex's listings (especially over $3000) are consigned to them through a dealer consignment program that they offer. Thus, the images are from the consigning dealer (likely NEN). It's basically turned into a large seller that really has nothing to offer numismatically except for a huge amount of listings.

  • CoinRaritiesOnlineCoinRaritiesOnline Posts: 3,681 ✭✭✭✭

    Seeing the same item listed by two (or more) different dealers is not uncommon, but in nearly every case only one of them is the actual owner.

  • oih82w8oih82w8 Posts: 12,548 ✭✭✭✭✭
    edited May 14, 2018 6:38AM

    I found a similar situation between Northeast Coin and AMPEX about a month ago. I called Northeast, they said that it was "lost". Then I found the same image on AMPEX, called them and they physically had it...and I bought it.

    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, Nickpatton, Namvet69,...
  • YorkshiremanYorkshireman Posts: 4,583 ✭✭✭✭✭

    That has happened to me.
    I almost bought a coin from a big dealer until I realized it was owned by a small dealer whom I knew.

    Yorkshireman,Obsessed collector of round, metallic pieces of history.Hunting for Latin American colonial portraits plus cool US & British coins.
  • savitalesavitale Posts: 1,409 ✭✭✭✭✭

    @NebuchadnezzarTheGreat said:
    The vast majority of Apmex's listings (especially over $3000) are consigned to them through a dealer consignment program that they offer. Thus, the images are from the consigning dealer (likely NEN). It's basically turned into a large seller that really has nothing to offer numismatically except for a huge amount of listings.

    Good to know, thanks! And thanks to everyone else for helping to clear this up for me.

  • ernie11ernie11 Posts: 1,982 ✭✭✭✭✭

    I had this same thing happen a few years back and also with an 1918/7 Buffalo. I saw the coin pictured in an ad in Coin World, then almost simultaneously I saw it on a well-know dealer's website. Exact same coin, same markings, but priced a little lower. Am thinking maybe the dealer took it off the other dealer's hands quickly for resale. I admit, it certainly threw me at the time.

  • Cougar1978Cougar1978 Posts: 8,759 ✭✭✭✭✭
    edited May 15, 2018 8:01AM

    Perhaps they have consignment agreement? Is it stock photo?

    I get coins on invoice all the time at shows mostly MS63-64 Saints and Libs. I am sure he has them listed on his website - no biggie.

    During show I may buy some or sell some for slightly more than invoice. At show end give back coins plus cash for ones I bought / sold.

    There are many angles in the coin biz. Interesting example of synergy between mail order dealer and online seller.

    Coins & Currency

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