Same coin, two dealers?

savitale

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?

Pokermandude

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

blitzdude

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

Bochiman

I'd trust Northeast Numismatistics, on anything actually coin related, 10000x more than Apmex

Bochiman

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

giantsfan20

What condtion and prices are they charging?

Paradisefound

@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

Azurescens

@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.

savitale

@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?

blu62vette

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.

savitale

@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?

Azurescens

Gross

BillDugan1959

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.

Timbuk3

Interesting !!!

jdimmick

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

1630Boston

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

Greeniejr

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.

ricko

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

DrPete

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.

oldgoldlover

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.

ACop

I don't even want to join this conversation.

NebuchadnezzarTheGreat

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.

CoinRaritiesOnline

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.

oih82w8

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.

Yorkshireman

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.

BillJones

Sometimes dealers take coins "on the arm" from other dealers. I used to do it when I was dealer if I thought I could place a piece, or thought I might be able to sell it at a show. A few times dealers would push me to take coins because they thought that I could move them.

Back then most dealers didn't have web sites; now they do. If you use the "shop" function in the PCGS registry, you will see multiple listings for the same coin from different dealers. Sometimes the coin has been sold, and the seller is slow on the uptake to remove it from his site. Other times one dealer might own the piece, and another one might have it on consigment. There are even times when dealers go in as partners on an expensive coin, and they both have an interest in it.

Any of these situations can explain why you see the same piece listed in multiple places.

savitale

@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.

ernie11

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.

Cougar1978

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.