"Buy the keys first; the commons will always be there" (as a kid)
"A man is only as good as his word; if the word's no good, the man's no good" (first boss in the coin business)
"You know, they made more than one of those." (in response to someone lamenting having missed out on something they wanted)
"Do you think I'm going to buy a condo in Maui with the $5 I'm making on these?" (at a show)
"We charge fifty cents to listen to what your Grandmother had" (sign at table)
Not a saying per se, but it stuck... overheard in another guy's shop after a frustrating exchange on some gold coin-back when gold was maybe $400...Italian guy with a Brooklyn accent that became more pronounced when he got excited...
"Listen-You come in here maybe once, twice a year and complain about a 5% markup, but I bet you go to Walmart every week and let 'em make 300%. Go haggle wit dem"
Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors for PCGS. A 50+ Year PNG Member.A full-time numismatist since 1972, retired in 2022.
" I know its a rare coin, but maybe 5 people in the U.S. collect them that way, its a thin market, rarity does not always imply high worth" ------- Old time coin dealer...
1. Buy original bust type coins in the highest grade you can afford and put them away....when it comes time to retire, you'll be very happy.
2. Be patient.
3. (not coin related but still the best advice I ever received--while pondering a way too expensive purchase for my wife)--Don't try to be something you are not....trust me, I've been there and it's not a good place to be.
I was fortunate enough to learn from "old dealers" well over 35 years ago in the "pre grading services days"
Ive heard so many expressions, but best of all - I've learned how to grade certain series very accurately and understand certain strike characteristics and surface luster.....you dont learn this from any book out there.....you have to see it repetitively....again and again.
<< <i>As in the preceding post, and I've said it before... "Coin? R-8. Customer? R-9" . . . . >>
Drop the price some and watch the number of collectors go to R-7.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
"There is no Santa Claus in numismatics". If the deal sounds too good to be true then it probably is.
Follow me on Twitter @wtcgroup Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
1. Buy the best quality and rarity you can afford. 2. When setup at a show, sell your coins on Saturday and buy on Sunday. 3. Don't be swayed too much by stickers, always examine the coin closely. 4. If they are not asking prices on the material in you case at the show, it means the people coming in the bourse room don't have any money. 5. Junk boxes will detract from the nice slabbed coins you have in your display case at a show. The junk box people will block your cases too. Give them 20 minutes to look at the junk coins and if they don't buy you need to run them off. 6. Ebay was a fantastic venue for retail for me before the big boys got on there. 7. Hey guy, this is a money show, you need to pay cash. 8. Don't take a check for gold coins, if they have the money they know where to find an atm. 9. I bring a gun that can shoot out their engine if they try to follow me after the show. 10. "Do you think I should pack up and go home?" Question to me from dealer I was sharing a table with who specializes in problem / detail coins after he sold a guy a coin for $3500 he had $800 in (worried about buyers remorse) on a Saturday shortly before show close. It would be open on Sunday. 11. "This is where I put my profits" Comment made to me by World Gold Dealer circa 1994 (set up at the table next to mine) after showing me a roll of Gold Eagles. 12. The better date coins and type will do well but I don't think the common generics will come back - comment made to me by dealer after 1989 market crash.
In regards to a $20 EF/AU Cleaned and artifically toned
"If that coin was in a holder it would be $200"
And as for most ammusing scene: A guy on a cell phone wearing a Montgomery Wards $75 suit screaming buy, buy, sell, buy, sell... As if he was in the pits of the Chicago Exchange.
When the grading of coins began a local B+M shop owner told me "No one was going to tell him the grade of his coins that he was selling". I think I only remember it so well is because of how adamant/forceful he was in his tone.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
Comments
Once again I nearly spilled my drink onto my keyboard while reading one of your posts.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Collector since 1976. On the CU forums here since 2001.
Unfortunately for me, I never followed this advice and until lately, and paid more for the last rare needed coins to complete my sets.
Bob
Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum
That was in answer to a customer who asked : "Do you have any junk silver ? "
https://acoinshop.com/ —-> https://ebay.us/m/KxolR5
Patience, grasshopper.
You need to spend time looking a lots of coins, not just pictures.
Surface quality is usually more important than marks. [said by an EAC dealer]
Buying a coin and walking away with it is like buying a new car and driving it off a lot. You're in love, but you take a financial hit.
The business side of numismatics is a lot rougher than you think.
Most collectors don't buy intelligently. Don't be one of those.
Don't buy that coin! [said to me by a dealer friend who sensed that I was looking for something to buy because I was bored]
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
"A man is only as good as his word; if the word's no good, the man's no good" (first boss in the coin business)
"You know, they made more than one of those." (in response to someone lamenting having missed out on something they wanted)
"Do you think I'm going to buy a condo in Maui with the $5 I'm making on these?" (at a show)
"We charge fifty cents to listen to what your Grandmother had" (sign at table)
Not a saying per se, but it stuck... overheard in another guy's shop after a frustrating exchange on some gold coin-back when gold was maybe $400...Italian guy with a Brooklyn accent that became more pronounced when he got excited...
"Listen-You come in here maybe once, twice a year and complain about a 5% markup, but I bet you go to Walmart every week and let 'em make 300%. Go haggle wit dem"
RIP Mom- 1932-2012
but there will also be coins you are glad you sold when you did.
2. Be patient.
3. (not coin related but still the best advice I ever received--while pondering a way too expensive purchase for my wife)--Don't try to be something you are not....trust me, I've been there and it's not a good place to be.
Tom
Remember to leave a little profit in it for the next guy. (one statement many collectors disagree with - but it rings very true)
A dealer is not an expert in all areas, seek out those who specialize in the area you are collecting.
Ive heard so many expressions, but best of all - I've learned how to grade certain series very accurately and understand certain strike characteristics and surface luster.....you dont learn this from any book out there.....you have to see it repetitively....again and again.
RAD#306
K
My 1866 Philly Mint Set
-Good stuff rarely turns up and, when it does you better grab it, even at a premium.
-Time is a good money maker.
-I love that coin but if the price is wrong---I'll fall out of love real quick.
pass the mustard......
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
<< <i>As in the preceding post, and I've said it before... "Coin? R-8. Customer? R-9" . . . .
Drop the price some and watch the number of collectors go to R-7.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I guess pay attention to the details might be one that I should live by...
<< <i>
<< <i>As in the preceding post, and I've said it before... "Coin? R-8. Customer? R-9" . . . .
Drop the price some and watch the number of collectors go to R-7.
And then listen to them whine because now you're offering to buy from them for less, what with the new and improved retail pricing in effect.
<< <i>Did ColonelJ say you could quote him on that? >>
I'd like royalties, but am told it's already in the public domain . . . .
Bob Osterholm (RIP).
Tidy House Soap guy. "Stuck" like a knife when I heard it.
https://acoinshop.com/ —-> https://ebay.us/m/KxolR5
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
Hoard the keys.
2. When setup at a show, sell your coins on Saturday and buy on Sunday.
3. Don't be swayed too much by stickers, always examine the coin closely.
4. If they are not asking prices on the material in you case at the show, it means the people coming in the bourse room don't have any money.
5. Junk boxes will detract from the nice slabbed coins you have in your display case at a show. The junk box people will block your cases too. Give them 20 minutes to look at the junk coins and if they don't buy you need to run them off.
6. Ebay was a fantastic venue for retail for me before the big boys got on there.
7. Hey guy, this is a money show, you need to pay cash.
8. Don't take a check for gold coins, if they have the money they know where to find an atm.
9. I bring a gun that can shoot out their engine if they try to follow me after the show.
10. "Do you think I should pack up and go home?" Question to me from dealer I was sharing a table with who specializes in problem / detail coins after he sold a guy a coin for $3500 he had $800 in (worried about buyers remorse) on a Saturday shortly before show close. It would be open on Sunday.
11. "This is where I put my profits" Comment made to me by World Gold Dealer circa 1994 (set up at the table next to mine) after showing me a roll of Gold Eagles.
12. The better date coins and type will do well but I don't think the common generics will come back - comment made to me by dealer after 1989 market crash.
One of my favorites "Buy the book before you buy the coin...."
https://acoinshop.com/ —-> https://ebay.us/m/KxolR5
When a potential buyer asks the dealer “do you think it will grade”…
The common response is “if you want a graded coin, buy a graded coin”
Buffalo Nickel Digital Album
Toned Buffalo Date SetDigital Album
https://pcgs.com/setregistry/mysetregistry/album/411385 7070 Registry<
Buffalo Nickel Digital Album
Toned Buffalo Date SetDigital Album
https://pcgs.com/setregistry/mysetregistry/album/411385 7070 Registry<
Eric
"If that coin was in a holder it would be $200"
And as for most ammusing scene: A guy on a cell phone wearing a Montgomery Wards $75 suit screaming buy, buy, sell, buy, sell... As if he was in the pits of the Chicago Exchange.