Question for dealers and Collectors who buy at coinshows

Coin Finder · September 27, 2016 12:53AM

These days with smarts phones one, can accept credit cards through Paypal etc...So hypothetically one could buy a coin in the case, Paypal the dealer and walk away with the coin.

Do you take Paypal at coin shows? Downsides? Upsides?

Thanks in advance for your thoughtful replies..

mannie gray · September 27, 2016 12:59AM

I do not.

I realize it's the way a lot of business is transacted, but I only use PayPal when I have to (eBay).

Upside= increased sales.

Downside= get home, realize later you have been scammed.

bolivarshagnasty · September 27, 2016 1:00AM

I have paid with Paypal at coin shows before. The dealer gets confirmation of the funds, I walk with the coin. There are at least a few that accept this form of payment.

Tassa · September 27, 2016 1:10AM

I've never had anyone ask to use PayPal at a show, but I would accept PayPal since I use it for eBay and website sales. However, other than through PayPal, I don't accept credit cards due to risk of fraud, the fees, and increased paperwork.

jdimmick · September 27, 2016 2:00AM

No

But had them do it at my office, keep occasional junk down here, guy came buy wanted all my wheats and buff, proof sets, etc

he proceeded to pay with cc which we don't take, actually, we really don't sell out of here to start with, but he asked if Id take a pp payment, and I said yea,

got the email notification he paid, so I let him cart away the junk.

problem free transaction

morgandollar1878 · September 27, 2016 2:18AM

I use the square card reader, there is a fee but it is less than paypal.

bigjpst · September 27, 2016 2:25AM

I use a Square Card reader from time to time. I used to have a PP card reader, but for some reason it stopped working. I have never had a person other than a dealer ask to send me the money PP. I have offered it to some who say they don't have the cash etc, but only when I have room enough to cover the fee.

TwoSides2aCoin · September 27, 2016 3:08AM

I offer it, and Square both. Their costs, like all credit card processors , are comparable.

Coin Finder · September 27, 2016 6:07AM

Two sides or.... anyone is it paypal gift or straight paypal?

bigjpst · September 27, 2016 6:20AM

Originally posted by: thebigeng

Two sides or.... anyone is it paypal gift or straight paypal?

Usually when I get Paypal from dealers it is gift. I would have to look into how PP works for delivery of item for seller protection. There must be some sort of local pickup. Otherwise the person could walk away and file a claim stating they never received it.

mustangmanbob · September 27, 2016 9:08AM

Usually when I get Paypal from dealers it is gift. I would have to look into how PP works for delivery of item for seller protection. There must be some sort of local pickup. Otherwise the person could walk away and file a claim stating they never received it.

This is key. Paypal has to show a receipt (US Mail, FedEx) etc. or there can be a charge back. Gift is the way to go.

illini420 · September 27, 2016 9:59AM

Cash is still the way to go at a coin show.

As a dealer, it surprises me how many people, especially younger folks, expect to be able to pay with credit card or other electronic payments. I'm set up to take those payments at most shows, but I prefer not to do so for many reasons. Mostly, I like getting cash so I can then use that cash at the show to buy more coins!

Unless it's a customer I've dealt with before many times or unless it's a coin I just really want to get rid of, it's still cash only and I'll tell the customer where to find an ATM so that they can turn their plastic into the cash I require

I understand paying that way is convenient for the customer, but not getting cash in hand at the show is quite inconvenient (and potentially risky as others have mentioned) for me!

TwoSides2aCoin · September 27, 2016 10:11AM

I do not do Pay Pal gift to the previous question. It's not a gift, it's a business. The costs incurred are part of the necessary evil in the world of capitalism. Not that this is a bad thing (fees), but it doesn't bode well for large purchases. 3% of a thousand dollars adds up. I'd rather have a check, or cash. Or chickens and cows.

Jackthecat1 · September 27, 2016 10:21AM

I stick to the green stuff from BEP.

Desert Moon · September 27, 2016 11:29AM

Checks only, the dealers know me, no problems, they don't pay a fee when they deposit it, everyone goes home happy.

Shortgapbob · September 27, 2016 11:44AM

Cash, check, credit card or PayPal. We are pretty flexible at shows or in the office, as long as it's not bullion.

Elcontador · September 27, 2016 12:27PM

No. The credit card or other fee is coming out of my pocket, so why pay it if I can avoid it? It's like paying for valet parking when you can park your car across the street for nothing.

Jinx86 · September 27, 2016 1:21PM

Ive never had a customer at a show ask. Alway has been cash or check.

AstroJoe · September 27, 2016 1:55PM

I use cash only.

Too easy to go over budget with PP, credit card, or check if dealer accepted them.

CoinZip · September 27, 2016 2:45PM

Cash, credit card, paypal for us...

I've payed for transactions with paypal at shows too..

Outhaul · September 27, 2016 8:42PM

Nothing gets you a better deal than paying in the old readies.

Cheers

Bob

ricko · September 27, 2016 9:12PM

I have always paid cash at shows ....have used PP online...Cheers, RickO

logger7 · September 27, 2016 9:16PM

NY area, I don't know any of the dealers who are very internet savvy. No paypal either.

BustCuds · September 27, 2016 9:22PM

Always paid with cash or check, no transaction fees involved for dealers.

giorgio11 · September 27, 2016 11:10PM

Yes, I have accepted PayPal at shows. But only from repeat customers whom I trust.

2ndCharter · September 28, 2016 12:25AM

Checks only, the dealers know me, no problems, they don't pay a fee when they deposit it, everyone goes home happy.

Same here - It's worked fine for me for decades.

coindeuce · September 28, 2016 12:43AM

If a customer with a smartphone offered to buy a coin at a show via PPG, I would not refuse the sale.

I would not accept a CC funded payment from anyone other than a well known person, and even then I would require photo ID.

TPRC · September 28, 2016 1:11AM

Cash or check for my purchases. I find that dealers often appreciate cash.

AMRC · September 28, 2016 4:42AM

We accept PayPal al the time. Customer pays either directly or as a result of an invoice (that we also generate on the spot), we wait for PayPal to clear the funds and off they go with the coins. Id there is a delay, we ship the coins.

Question for dealers and Collectors who buy at coinshows

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