Long Beach Show... sad but true

rawteam1 · February 9, 2013 12:44AM

a couple interesting stories, i do think from now on i will actually get names and companies to post my expose on what goes on at these shows...

best one was i ask a guy how much for a $10 roll of unc quarters, he had about 5-6 rolls most all 1963 or 1964,
he says $400-600 each depending on date, since they r in great condition...

oh brother its sh!t like this that makes u wonder when its all goin to go like the public stampede out of stamps, sports cards, comics or any other "collecting" industry...

Billet7 · February 9, 2013 12:49AM

You've still got one more story if you'd like to use it...

MidLifeCrisis · February 9, 2013 12:52AM

Well how much should he have asked for the roll?

Better yet, how much would you want for a roll if you were him?

RYK · February 9, 2013 12:54AM

People can ask whatever they like. I am not sure you are going to get Geraldo fired up for this one.

Senex · February 9, 2013 12:56AM

<< a couple interesting stories, i do think from now on i will actually get names and companies to post my expose on what goes on at these shows...

best one was i ask a guy how much for a $10 roll of unc quarters, he had about 5-6 rolls most all 1963 or 1964,
he says $400-600 each depending on date, since they r in great condition...

oh brother its sh!t like this that makes u wonder when its all goin to go like the public stampede out of stamps, sports cards, comics or any other "collecting" industry... >>

Asking and getting are, as always, two different things.
Hardly enough to start a "stampede" from coin collecting, IMO.

rawteam1 · February 9, 2013 12:59AM

<< 
Asking and getting are, as always, two different things.
Hardly enough to start a "stampede" from coin collecting, IMO. >>

thanks for reminding me, i didnt remember i was in rosarito ...

2ndCharter · February 9, 2013 12:59AM

If that's the worst problem you could find at the Long Beach show, the hobby has a great future.

ricko · February 9, 2013 1:14AM

I have seen/heard much worse than that....Cheers, RickO

shorecoll · February 9, 2013 1:23AM

If the stuff that's happened on eBay over the past 10 years isn't enough to kill the hobby, I doubt anything happening at a show will.

Not just coins, but lots of categories, you would think they would run out of people to buy junk, but they haven't.

Steve27 · February 9, 2013 1:30AM

<< a couple interesting stories, i do think from now on i will actually get names and companies to post my expose on what goes on at these shows...

best one was i ask a guy how much for a $10 roll of unc quarters, he had about 5-6 rolls most all 1963 or 1964,
he says $400-600 each depending on date, since they r in great condition...

oh brother its sh!t like this that makes u wonder when its all goin to go like the public stampede out of stamps, sports cards, comics or any other "collecting" industry... >>

But after that, did you offer him melt for the coins?

DIMEMAN · February 9, 2013 1:32AM

I can't believe I opened this thread.

braddick · February 9, 2013 3:01AM

johnny9434 · February 9, 2013 3:30AM

thank god that theres other dealers there. move on

MrEureka · February 9, 2013 3:35AM

What's a single MS67 1963 Quarter worth?

grip · February 9, 2013 4:35AM

<<

>>

LMAO! OH no,please help me,not that much for a gem bu roll

Kove · February 9, 2013 4:42AM

Did you actually look at the coins to see their quality?

Cougar1978 · February 9, 2013 4:45AM

Did you expect him to give them to you at melt? Did you even examine them to get an idea of what they would grade?

CW values for these is 9-10 dollars in MS 63-65; for MS 66 much more. So market value for 40 pieces in MS63-65 can easily be $400. A 1963 in MS67 is valued at $2500. Redbook on these is $10 MS63, $15 MS 65.

So he is not going to give them away.

I encounter many people coming up to my table at shows who are looking for bargains, expecting me to sell to them like I am some newbie who walked into their shop. I don't mind telling them if they want to buy like they are a dealer, then perhaps they should go open up a shop. Others, having purchased the item from someone giving it away at wholesale expect me to sell to them a the same price. Worse yet they know nothing about better dates. I set up at shows to buy and sell at my price. I don't care if some other dealer in the room is giving them away at bid or face value or what.

I recall an incident where a collector was trying to argue about a price based on what his smart phone told him. The dealer laughed and said "well maybe you should buy it from your phone." If you don't like someone's price either lay your money on the table and make a counter offer that is tough for them to refuse or move on.

stealer · February 9, 2013 4:47AM

<< 

<<

>>

LMAO! OH no,please help me,not that much for a gem bu roll

>>

The dealer is a highway robber for sure. I'm surprised the police aren't all over him already.

PerryHall · February 9, 2013 5:00AM

There were several rolls. What are the chances the dealer already pulled out all the gems?

Cougar1978 · February 9, 2013 5:12AM

<< There were several rolls. What are the chances the dealer already pulled out all the gems? >>

There is no way of really having an idea without looking at all the coins and probably under a glass assuming the seller is willing to let someone examine them. That it could be a put together roll after all the good stuff was sent off to the slab mill is a strong possibility. I would not buy any roll unless I had an opportunity to see all the coins and make my own estimate as to grade and value.

The guy is trying to get all the money for sure (40 x ms 63 REDBOOK IS $400 AND 40 X $15 REDBOOK FOR MS 65 IS $600) and while its very optimistic there might be 66 or 67 pieces this is something whose possibility can only have been confirmed via sight seen examination. Unless one has the grading skills to examine this kind of transaction they should pass. Even then his price seems like no bargain unless you could get a few in 66 or 67 (good luck!). Even if you could get some graded 66 or 67, those are common coins and somebody is going to pay moon money for them? I have bought rolls of these off ebay at melt probably averaging MS 60- MS 64. Not even worth paying the slab for.

PerryHall · February 9, 2013 5:21AM

<< 

<< There were several rolls. What are the chances the dealer already pulled out all the gems? >>

There is no way of really having an idea without looking at all the coins and probably under a glass assuming the seller is willing to let someone examine them. That it could be a put together roll after all the good stuff was sent off to the slab mill is a strong possibility. I would not buy any roll unless I had an opportunity to see all the coins and make my own estimate as to grade and value.

The guy is trying to get all the money for sure (40 x ms 63 REDBOOK IS $400 AND 40 X $15 REDBOOK FOR MS 65 IS $600) and while its very optimistic there might be 66 or 67 pieces this is something whose possibility can only have been confirmed via sight seen examination. Unless one has the grading skills to examine this kind of transaction they should pass. Even then his price seems like no bargain unless you could get a few in 66 or 67 (good luck!). >>

What are the chances the dealer would allow a potential buyer to go through a roll and check each coin? Zero? Can you imagine a couple dozen tire kickers going through each roll and handling each coin? Under the circumstances the dealers asking prices were unrealistic but he can certainly ask whatever he wants.

MrEureka · February 9, 2013 5:43AM

What are the chances the dealer would allow a potential buyer to go through a roll and check each coin? Zero?

Given how the rolls were priced, and unless these were OBW and sealed rolls, the odds of the dealer letting a serious buyer look at the coins are close to 100%. How else would he have a chance of selling them?

PTVETTER · February 9, 2013 6:28AM

I have two 1964 rolls of OBW from the federal reserve bank.

When I sell them it's going to be as is!

And I plan to get a fair price for them NOT melt plus a little more.

beryl · February 9, 2013 7:26AM

Thought he was going to complain that he couldn't get anywhere with the Laker girls - who were at the show today.

PerryHall · February 9, 2013 7:33AM

<< I have two 1964 rolls of OBW from the federal reserve bank.

When I sell them it's going to be as is!

And I plan to get a fair price for them NOT melt plus a little more. >>

Where did anyone say they were only worth "melt plus a little more"? Certainly the person who started this thread didn't say this.

agentjim007 · February 9, 2013 7:34AM

It should be no surprise that if you're not in the "IN" crowd you're in the take a shot crowd. When did 64 quarter rolls become so collectible? I thought they were bullion.

astrorat · February 9, 2013 8:14AM

Wow ... the threshold for ranting seems to be rather low. What doesn't set people off these days?

The dealer asked a high price for some common rolls ... BFD. Why not just smile say, "No thanks," and move on?

dollarsandcents · February 9, 2013 8:43AM

I'm gonna hold my breath until I read a "sad but true" "interesting" story about the Long Beach show.

EVillageProwler · February 9, 2013 9:42AM

Cut the OP some slack...

While I may agree with the BFD crowd (in thinking that this is BFD), maybe there's a bit more context that is not conveyed by OP... In any case, this is just a thread, so this is also BFD. It's not like the NE of USA just got hit by a big storm or whatever...

EVP

TwoSides2aCoin · February 9, 2013 10:36AM

Ten to fifteen dollars each for a mint state coin seems relatively inexpensive, as it were.
Some guy who posts here paid like ten million dollars for a silver dollar the other day.

TwoSides2aCoin · February 9, 2013 11:01AM

A tactful way to approach this without getting emotional charged is to ask how much he would buy yours for. The balance beam works the same way for everyone.

Hintonator · February 9, 2013 11:16AM

<< Ten to fifteen dollars each for a mint state coin seems relatively inexpensive, as it were.
Some guy who posts here paid like ten million dollars for a silver dollar the other day. >>

This made me LOL...

For the OP, I personally consider 1963-64 quarters bullion, but there not really my thing. If the dealer really thought they were choice rolls, I see no reason why he wouldn't ask that much for them. I doubt he will get it but thats his problem.

coindeuce · February 9, 2013 11:22AM

<< Ten to fifteen dollars each for a mint state coin seems relatively inexpensive, as it were.
Some guy who posts here paid like ten million dollars for a silver dollar the other day. >>

Have you ever tried selling a single RAW BU '60's dated quarter for $10-$15? Rots 'o Ruck. And then multiply that times 40.
Even if the dealer had a flashy roll of all gem MS-65 coins, their retail value is only relevant to most collectors of the series in MS-65 in a respected TPG holder, which would cost more than the retail value to get in such holder on a per coin basis, even on a bulk submission.

CoinZip · February 9, 2013 11:32AM

<< 

<< Ten to fifteen dollars each for a mint state coin seems relatively inexpensive, as it were.
Some guy who posts here paid like ten million dollars for a silver dollar the other day. >>

This made me LOL... >>

+1