When you interact with a dealer, do you offer back their items to them?

2ltdjorn · June 25, 2012 7:51AM

So today I went to see about selling some currency back to a dealer. I asked for an offer, and I got one... a low one. It was interesting to see him assess the items that I had purchased from him, a while back. He gave me the used car salesman approach of kicking the tires, etc. Then offered 20% of the value. I understand the value of making a living, but it was just lousy. It really just about ruined this hobby for me, I am tempted to sell everything and just walk away. (also a disclaimer I did make a listing on the US currency BST, but this is not an advertisement). I really do enjoy this hobby, but it is hard to deal with such scammers. I may not be a big fish yet, but I am 26 years old... so one never knows.

lcoopie · June 25, 2012 7:53AM

what did you expect to receive?

USMoneylover · June 25, 2012 7:53AM

How long ago did you purchase the items, and how are you getting your values?

RYK · June 25, 2012 8:20AM

It has been my experience that selling quality material back to quality dealers is often the best selling opportunity for me. Of course, it requires that one owns quality material and is working with a quality dealer.

Barndog · June 25, 2012 8:27AM

<< it requires that one owns quality material and is working with a quality dealer. >>

it is difficult to know when you are looking at true quality material and exactly who is a quality dealer...when you are starting out or even an industrious novice.

michiganboy · June 25, 2012 8:29AM

Sometimes dealers just don't and can't tie up funds in stuff that takes time to move. When I go into my local shop they have the same large size notes for years now. If they can't move them they don't want to tie up to much money a lot of times when people bring in stuff they don't have a market for you get low ball offers because of that. Its different if you got a coin and they know there are buy offers up on the CCE they can move it right away there for they can pay you better. Word of advice is buy stuff that PQ and rare, when it comes time to sell you will be happier.

RYK · June 25, 2012 8:29AM

<< 

<< it requires that one owns quality material and is working with a quality dealer. >>

it is difficult to know when you are looking at true quality material and exactly who is a quality dealer...when you are starting out or even an industrious novice. >>

In that case, find someone to help you. There are no shortage of qualified mentors on this forum and in the hobby, at large.

2ltdjorn · June 25, 2012 8:37AM

I am novice in age at 26, I currently house a 250+ library of numismatic material (and actually have read most of them). Not all notes were stellar, but the ones that are include the good stuff such as a USN $1 easily a 63/64, and a type set of AU/uncirculated 1928 gold notes... 10/20/100. I think the feeling that bothers me, is when you feel that you may have formed a favorable opinion of someone only to be let down when you see the true self. While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par.

It really is just disappointing to see people do what they do, and get away with it.

louisianagold · June 25, 2012 8:44AM

Wish I had a dealer. I have to purchase everything over the internet. Though I have joined a couple of forums where I buy for reasonable prices.

renomedphys · June 25, 2012 8:49AM

Yes. If I am looking to unload a coin, I always at least offer it to the dealer that sold it to me.

This can go a few different ways. One, the dealer can be delighted and offer you fair money. Two, the dealer can balk a little, and then give you some justification for offering you less than fair money. Third, a dealer can try to talk you out of selling the coin, or offer to buy your coin back for trade value, presuming there is a coin to trade.

I bought an 1809 cent with nice VF/EF details, a bit greenish, and probably wouldn't holder, for my Dansco album two years ago for $2250. At the time, I was happy, but upon finding a coin that made me "feel better" I decided to sell the 1809. I was at the ANA, and planned to offer back the coin to the dealer, but upon not finding him, I showed the coin to two other dealers. The first dealer obviously didn't like the coin, and offered me about $1000 for it. The second liked it, offered me $1500, still commenting that it was a nice enough piece, but with noted problems. I never really disagreed with them. It's always hard to sell a problem coin. When I offered the coin back to the dealer that sold it to me, he offered me $1850 on the spot, remembering that I bought it from him, and still apologized for not doing better. He did say that his offer would have been lower if not for the fact that I bought it from him earlier that year.

He also gave me a little advice. He said that when a dealer buys back a coin, especially a tough coin like an 1809 cent, a stigma attaches itself to the coin for being returned. He told me flatly that waiting at least a couple of years would yield better results. That dealer's name was Chris McCauley.

Regardless, as a matter of course, I would always offer the coin back to the original dealer before making a deal with another dealer. It just strikes me as the right thing to do.

Cougar1978 · June 25, 2012 8:53AM

I have experienced same thing, it can be insulting. Just shop it around.

njcoincrank · June 25, 2012 8:54AM

I was a wholesaler for over 25 years and was always envious of the retailers who were always buying back really cool coins from their customers. In fact, one part of my business model was to ally myself with them so that I could get an early shot at the coins.

Now as a retailer I find myself selling coins to customers with the hope of one day getting the opportunity to buy them back.

njcc

crypto79 · June 25, 2012 9:14AM

<< While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par.
>>

To be fair NGC isn't necessarily sub par but they are not 1#. And while I am sure a NGC66 is a nice coin you have to think a grade lower for a common date saint when selling to a dealer.

mrpotatoheadd · June 25, 2012 9:15AM

<< While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par. >>

Ignoring the $$$ quoted, there are no shortage of people who post here who argree with the assessment of the TPG you noted.

FWIW...

LindeDad · June 25, 2012 9:48AM

<< Of course, it requires that one owns quality material and is working with a quality dealer. >>

Problem is one is in short supply and the other is even shorter.

Edit to add that I think about one out of a hundred dealers frequent this forum.

lasvegasteddy · June 25, 2012 10:00AM

it's one thing to buy coins
it's another to sell them

RedTiger · June 25, 2012 10:25AM

I thank the op (original poster) for the story. I am now curious, what the case is:
a) the op paid way too much
b) the dealer offered way low
c) some combination of a & b

Did the op shop at various dealers before buying the items? Has the op tried to get a wholesale offer from another dealer?

For coin folks, keep in mind that typical currency spreads are likely wider than rare coin spreads. So while 20% of retail is a low offer, it may not be as uncommon in currency as it might be in the coin world.

The song and dance about trusted dealers and mentors is useful but assumes so much. I tend to believe that novices tend to need to luck into those good relationships. A novice has no idea who to trust, dealer or potential mentor. There are so many differences of opinion on those subjects. Those with good luck stay with the hobby, those with bad luck that trust the wrong dealer or find a mentor with an agenda leave.

The Mark Feld 20 list comes to mind:
http://www.cointalk.com/t59111/

Elcontador · June 25, 2012 11:07AM

<< it's one thing to buy coins
it's another to sell them >>

This.

Today, if you want to get a reasonable offer for a coin, it must be nice for the grade, and something the particular dealer can move fairly quickly. Not many dealers are buying "for stock" these days. Don't make any assumptions re a dealer who sold you a coin having any obligation at all to buy it back from you. If you have a problem coin, you are going to have a hard time selling it, if you get a decent offer for it in the first place.

You also need to do your homework:
1) Know where on the grade continuum your coin is located
2) Know what price range your coin has sold for in recent auctions, and if it's a type coin, what similar dates of such series (which are also type) sold for.
3) Be able to have a reasonable idea of how to compare the quality of your coin to those in item 2)
4) Know which dealers sells the type of coin you have in the grade you have - ie., Tom Reynolds would not be interested in your PF Barber Half.
5) Know dealers need to mark up what they pay you when telling a dealer what you want for your coin.

ChrisRx · June 25, 2012 11:12AM

<< Yes. If I am looking to unload a coin, I always at least offer it to the dealer that sold it to me.

>>

If you ever need to unload a certain coin... please contact me first

BryceM · June 25, 2012 11:16AM

I have a particular coin I'd like to sell right now. This thread inspired me to offer it back to the dealer I got it from.

Stay tuned.........

mommam17 · June 25, 2012 11:20AM

I just sold a coin back to a dealer and he gave me 90% of what I paid for it. Thought that was more than fair.

lasvegasteddy · June 25, 2012 11:21AM

it's easier to be in coins today as we don't have to sell to dealers or b&m's ok

i have no problem buying from them
but long ago
give up such notion to sell to them

pretty safe on my lil feelers (<<< i care about um) not getting hurt if i don't ask dealers to buy my coins...yes some tuition was paid

there are exceptions...of course
on the bst...i had wei buy a coin from me at my posted price...no it wasn't that is was cheap

crypto79 · June 25, 2012 11:26AM

I look at this game as a hobby and not an investment, when I find its time to let go a dup I go out and get a feeling for what I would get from a dealer and then offer it to my piers giving them a chance to buy low all the while happy I got anything back out of it unlike many of my other hobbies that are pure negative cash flow. That said the better I have gotten at buying the better the selling has gone to the point I hover around the break even point with gains off setting many of the loses.

2ltdjorn · June 25, 2012 11:40AM

<< I have a particular coin I'd like to sell right now. This thread inspired me to offer it back to the dealer I got it from.

Stay tuned......... >>

I tell you its very eye opening experience...

mrearlygold · June 25, 2012 1:26PM

<< 

<< While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par.
>>

To be fair NGC isn't necessarily sub par but they are not 1#. And while I am sure a NGC66 is a nice coin you have to think a grade lower for a common date saint when selling to a dealer. >>

There was a difference of $40 bucks between the 2 services for several dozen pieces in ms-66 last week.

ambro51 · June 25, 2012 9:11PM

The OP seems to understand valuations so why not use eBay and list your material with a reserve you feel is fair.

BillJones · June 25, 2012 10:36PM

In my opinion one measure of the integrity of a dealer is whether or not he will buy back material that he has sold you at a fair price. I have two caveats for this rule. First if you buy an item from a dealer that is not in his main line of business, don’t expect to get a great price it. For example I bought an 1805 half dime from Sheridan Downey many years ago. Sheridan is well known in the early half dollar field, but for him an 1805 half dime was quite unusual. It probably came along for the ride with a collection that he had purchased. In that case I would not expect to get top dollar since Sheridan is not a major player in that market.

The other caveat is the market. If the price of that item has remained the same or gone down since you bought it, you can’t expect to get back what you paid for it. If the market has really “died” as is the case with the early U.S. commemorative half dollars, expect to take “a licking.”

Having laid out those two conditions, if a dealer refuses to offer a price or gives you really low ball offer, my opinion of that dealer goes down, sometimes way down. If the coin has no significant problems and is properly graded in the holder, there is no reason why the dealer should not make a fair offer for an item that is his usual stock and trade. If he does not step up, then perhaps it would be better to avoid that dealer in the future.

erickso1 · June 25, 2012 10:53PM

I think I would offer back to the selling dealer first, especially if specifically asked. I haven't been asked by a selling dealer yet and I say "I think" because I'm still in the acquiring phase.

BillJones · June 25, 2012 11:24PM

<< I think I would offer back to the selling dealer first, especially if specifically asked. I haven't been asked by a selling dealer yet and I say "I think" because I'm still in the acquiring phase. >>

A dealer will ask you that question when you buy something that is unusually nice for its kind and really hard for him to replace.

BAJJERFAN · June 25, 2012 11:24PM

<< 

<< 

<< While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par.
>>

To be fair NGC isn't necessarily sub par but they are not 1#. And while I am sure a NGC66 is a nice coin you have to think a grade lower for a common date saint when selling to a dealer. >>

There was a difference of $40 bucks between the 2 services for several dozen pieces in ms-66 last week. >>

Is the grade differential more than $40 for a 65 vs a 66 for those several dozen pieces?

BAJJERFAN · June 25, 2012 11:27PM

<< I just sold a coin back to a dealer and he gave me 90% of what I paid for it. Thought that was more than fair. >>

Could you have gotten more elsewhere or were you more interested in getting a fast nickel versus a slow dime?

crypto79 · June 25, 2012 11:31PM

<< 

<< 

<< While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par.
>>

To be fair NGC isn't necessarily sub par but they are not 1#. And while I am sure a NGC66 is a nice coin you have to think a grade lower for a common date saint when selling to a dealer. >>

There was a difference of $40 bucks between the 2 services for several dozen pieces in ms-66 last week. >>

Was that whole sale or dealer buy price or retail? And while that 40$ represents only a couple of % points it doesn't truly convey the stuck feeling a collector has when they try to sell NGC coins back on to the market.

mrearlygold · June 25, 2012 11:44PM

<< 

<< 

<< 

<< While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par.
>>

To be fair NGC isn't necessarily sub par but they are not 1#. And while I am sure a NGC66 is a nice coin you have to think a grade lower for a common date saint when selling to a dealer. >>

There was a difference of $40 bucks between the 2 services for several dozen pieces in ms-66 last week. >>

Is the grade differential more than $40 for a 65 vs a 66 for those several dozen pieces? >>

Of course

mrearlygold · June 25, 2012 11:46PM

<< 

<< 

<< 

<< While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par.
>>

To be fair NGC isn't necessarily sub par but they are not 1#. And while I am sure a NGC66 is a nice coin you have to think a grade lower for a common date saint when selling to a dealer. >>

There was a difference of $40 bucks between the 2 services for several dozen pieces in ms-66 last week. >>

Was that whole sale or dealer buy price or retail? And while that 40$ represents only a couple of % points it doesn't truly convey the stuck feeling a collector has when they try to sell NGC coins back on to the market. >>

Whatever. I tried to help you with real information.

mommam17 · June 26, 2012 12:00AM

Because it was a silver commem, I don't think I could of gotten more for the coin.

DrPete · June 26, 2012 12:05AM

A lot of sage advice and information already in this thread.

If your collecting includes goals of retaining value or even making a profit on your coins or notes, you need to become educated in the world of numismatics and in basic economics. It is a good idea when you begin dabbling in coins and notes that you not only play the role of buyer, but of seller, too. By testing the water in this manner, you can start with some items to see what the going buy/sell spread is for the coins you are interested. It takes a few "school of hard knocks" to appreciate what the market is. It is not all sharks out there, but you better learn fast or you will end up losing lots of money.

If you are a pure collector and don't care what the value is in the future, by all means, buy what you like and don't worry.

The better the material, the more in demand it is, and the easier to sell it for the most money. The "right" stuff is generally nice quality, rare, popular, and can be sold easily (to customers or to dealers). The right stuff tends to have a lower mark-up percentage as it moves quickly; it is more liquid. It doesn't take all that long to figure out what coins fit this market.

Most important, have fun. Find a mentor, learn and keep learning. It is a great hobby!

yellowkid · June 26, 2012 12:25AM

<< It has been my experience that selling quality material back to quality dealers is often the best selling opportunity for me. Of course, it requires that one owns quality material and is working with a quality dealer. >>

I think with most good dealers you would be looking at reversing that percentage for quality material, and more if you were looking to use the piece(s) in barter. If not then I would do my business elsewhere. The key word is quality.

Bankerbob56 · June 26, 2012 12:26AM

My experience with the old B&M dealer was similar to yours, and drove me away from most B&M's. Unfortunate for the good guys, but the sins of the few ruin it for the rest. I bought an MS64 standing liberty quarter for my type set. I thought it was accurately graded (raw). When I chose to sell that coin back to the dealer it became a whizzed coin worth 1/20th of what he sold it to me for. I purposely did not tell the dealer that it was a coin I purchased from him a few years earlier..... My conclusion was that either he could not grade coins or he was a crook. Either way, my dealings with him have ceased. I was probably a four figure customer to that dealer (on an annual basis). I have not been back since.

BAJJERFAN · June 26, 2012 12:55AM

<< 

<< 

<< 

<< 

<< While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par.
>>

To be fair NGC isn't necessarily sub par but they are not 1#. And while I am sure a NGC66 is a nice coin you have to think a grade lower for a common date saint when selling to a dealer. >>

There was a difference of $40 bucks between the 2 services for several dozen pieces in ms-66 last week. >>

Is the grade differential more than $40 for a 65 vs a 66 for those several dozen pieces? >>

Of course >>

How much more on average? $80 would be more, but maybe not significantly more. Are we talking $500 typically?

mrpotatoheadd · June 26, 2012 1:12AM

<< Having laid out those two conditions... >>

I'd add another condition to the list- if the dealer already has several examples in his inventory of what you're trying to sell him, he may not be as enthuisiastic about buying as if he had none of them.

mrearlygold · June 26, 2012 2:16AM

<< 

<< 

<< 

<< 

<< 

<< While I was in the shop, a person brought in a 1924 $20 saint in NGC MS 66, he offered $1800 stating the grading company was sup par.
>>

To be fair NGC isn't necessarily sub par but they are not 1#. And while I am sure a NGC66 is a nice coin you have to think a grade lower for a common date saint when selling to a dealer. >>

There was a difference of $40 bucks between the 2 services for several dozen pieces in ms-66 last week. >>

Is the grade differential more than $40 for a 65 vs a 66 for those several dozen pieces? >>

Of course >>

How much more on average? $80 would be more, but maybe not significantly more. Are we talking $500 typically? >>

Typically 5% back of the sell. 65's sell today at 2K while 66's are 2500. Approx 5% less than that is the buy. NGC's were $40 bucks less on the 66's and there can't be any spots of any kind or else it's curtains

I am not embroiled in the commons although I seem to get a few hundred of them a year it seems, generally as payment toward rare coins.

coinbuf · June 26, 2012 3:46AM

I have walked in the shoes of the op, I once purchased a coin for a set that I was just starting. The coin was very nice and a top pop purchased from a highly respected national dealer(no names). After owning the coin for a few yrs I decided not to persue the set and offered the coin back to the dealer, at which point I was offered approx half of what I had paid. The market for the coin had not gone down, in fact the few that had sold at auction had prices trending up, but due to the high grade level and type of coin the market is a thin one. I was shocked at the low offer at the time but after some consideration I realized many of the points that have been brought up in this thread with regards to the availible market, the dealers access to that market, etc. But at the same time I have not(nor will I) purchased anything from that dealer since.

Staircoins · June 26, 2012 7:13AM

As already mentioned, there have been several valid points already made in this thread.

When I sell a coin, I like to have it offered back to me. However, the point that was attributed to Chris Macauley is valid: the same coin turning up in one dealer's inventory too frequently may become viewed as tainted or stale.

As a collector, I have learned that there are dealers I can buy from (but not sell to), those I can sell to (but not buy from), and some that I can both buy and sell from/to. Knowing who falls into which category takes time, but is critically important.

BillJones · June 26, 2012 7:22AM

<< As already mentioned, there have been several valid points already made in this thread.

When I sell a coin, I like to have it offered back to me. However, the point that was attributed to Chris Macauley is valid: the same coin turning up in one dealer's inventory too frequently may become viewed as tainted or stale.

As a collector, I have learned that there are dealers I can buy from (but not sell to), those I can sell to (but not buy from), and some that I can both buy and sell from/to. Knowing who falls into which category takes time, but is critically important. >>

Ah, but the key question is after Chris Macauley got this "stale" coin back, how long did he hold it? Among all of the "big name" copper dealers I've found Chris Macauly to be the most reasonable on both ends of the buying and selling market. One man's "stale coin" is another man's "I've been dying to own that piece" coin. Some copper coins make the rounds because there are not that many of them around.

LochNESS · June 26, 2012 10:10AM

<< I was a wholesaler for over 25 years and was always envious of the retailers who were always buying back really cool coins from their customers. In fact, one part of my business model was to ally myself with them so that I could get an early shot at the coins.

Now as a retailer I find myself selling coins to customers with the hope of one day getting the opportunity to buy them back.

njcc >>

This is so fascinating to me. I have purchased countless coins from dealers, collectors and club auctions, and never once thought "someday I'll sell this back to the same person." Likewise I have never sold a coin and thought "I hope someday they return it."

Perhaps this is because I view every single transaction as an opportunity to advance myself in the business. Financially, yes but also in terms of my status and the status of my holdings. I'm always trying to trade up as they say, and I feel like returned items / trading the same items from prior years is either stepping sideways or backwards.

roadrunner · June 26, 2012 10:56AM

From my 40 years or so I've found that the majority of dealers don't want their old coins back, especially coins that are only so-so which they also unloaded them onto you at a fat retail price. They'd just rather not make an offer rather than insulting you (and themselves) with a 20% offer. The coins that dealers hope they get back are far and few between. They'd rather keep their money fresh for deals they can rip at 20-60% rather than pay a knowledgeable customer 75-90%. Better in those cases not to make an offer rather than let the customer know how the game really works. I first learned that in 1980 when my local shop didn't want any of the gem unc Commems I had been buying from him for a couple of years. He said he just had "nowhere to go with them" (ie...you paid too much, they aren't gem, and I'd rather buy coins like that off the street from dummies as MS63's). No need to waste the budget paying real prices for coins. For every NJCoincrank there's probably 9 dealers out there who just hope the bulk of their "customers" just go elsewhere for offers. I can't tell you how many dealers have sold me coins only to request 1st shot should I ever decide to sell. And when I showed up down the road they'd always have a reason for not wanting to buy today. It's all part of the game. I had to laugh at a great coin not being fresh anymore because the dealer got it back only months after selling it. That's one of the newest gimmicks for not wanting to buy customer's coins back....they aren't fresh enough....unless it's been 20-30 yrs since you bought them, lol. And if that's the case you probably have no clue what they are worth today and the dealer will gladly take them off your hands with their "strong offer." The only solution is to get knowledge first, find a great mentor, and tread slowly.

When starting out with a dealer you need to occasionally offer some of the stuff back to them to see if it's a 2 way street, a 1 way street, or a dead end. I had one dealer back in the 1970's that claimed the coins I brought back to her for offers weren't even ones that she sold me. Stated to my face that I was trying to pull a fast one on her. You know how that turned out. Never went back again to either of these dealers. And offering $1800 for a MS66 NGC saint is absurd considering the sell by one of the largest dealers in them is $2500 with a $20 difference between the 2 services. Spreads on these are usually no more than 5-7%.......not 28%...lol! Where does the line form to buy NGC66 Saint's for $1800? And for all we know the coin in question was actually nice and worthy of the $3400+ a stickered coin would fetch. But fwiw I don't ever bother to offer coins back to the selling dealer these days. I just go to the top national buyers and leave it at that. In 95-99% of the cases they will pay more than your local guys. Any coin I buy locally almost never gets sold locally.....it goes back into the national dealer circuit (ie guys like NJCC, etc.)

2ltdjorn · June 26, 2012 11:04AM

It's funny because he then showed, after making the low ball offer on the ngc ms66 1924 saint, me a NGC 1884-CC MS67.... I thought about using his words back at him saying well you know it's NGC so it's prob a MS 62 pcgs all day!!! And fwiw I think NGC is very reputable and are working to help better this hobby!!!

I wonder what he would have said then?

roadrunner · June 26, 2012 11:25AM

NGC's grading from 1996-2008 is part of the problem we're dealing with today. It worked while the money flowed and no one cared about the coins for several years. They were consistent though with the grades, I'll give them that. The flood gates for more liberal grading opened up wide during the Pittman and Eliasberg sales. It fell apart in late summer 2008.

LochNESS · June 26, 2012 12:24PM

<< NGC's grading from 1996-2008 is part of the problem we're dealing with today. It worked while the money flowed and no one cared about the coins for several years. They were consistent though with the grades, I'll give them that. The flood gates for more liberal grading opened up wide during the Pittman and Eliasberg sales. It fell apart in late summer 2008. >>

Speaking of pedigree slabs, what is the deal with Norweb PCGS coins? I've seen many Norweb slabs (and own a couple) but none of the grades are particularly high, and the coins are not particularly rare or high-value. I'm having a hard time determining why that pedigree even exists aside from the famous family name. Have I only seen the low end of that pedigree spectrum? Or did Norweb specialize in non-rare, moderate-grade coins?

DrPete · June 26, 2012 12:50PM

The Norweb Collection had many top-end and rare coins along with some less so. It is an old-time collection begun somewhere around the early 1900's and expanded by his daughter, I believe. The coins were sold by Bowers and Merena and the auction catalogs are classics. I think I would characterize the collection as extensive and many true rarities were in the set. I have the catalogs and historical information is available within them. My emphasis is on Barber Halves and along with some really tough Barber Halves (I have the Norweb 1904-S half in PCGS MS 67, tied for finest known, but I believe mine is arguably the nicest of the three, although this coin was added to the Norweb Collection in 1955) there were some circulated coins and the set was not complete. Mint state and proof examples exist.

I suggest you find a copy of the catalogs and read them. ANA may have a copy in their library.

BryceM · June 26, 2012 4:16PM

<< I have a particular coin I'd like to sell right now. This thread inspired me to offer it back to the dealer I got it from.

Stay tuned......... >>

Got the response back today. He's interested in having it back and will pay what I think is a fair price. The greysheet value of this particular coin dipped slightly since I first purchased it, but I'll be selling it back for roughly 85% of what I bought it for. Not bad at all and I'll certainly be checking his inventory much more often when I'm in the market!

When you interact with a dealer, do you offer back their items to them?

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