When buying a coin from anyone, dealer or collector...
Coin Finder
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Do you prefer to "make an offer" or to know the price up front?
When buying a coin from anyone, dealer or collector...
This is a public poll: others will see what you voted for.
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Trying the new polling option...
I would prefer to know the original asking price upfront simply to see if we are inhabiting the same universe.
In honor of the memory of Cpl. Michael E. Thompson
I prefer we both know the value and find a happy medium.
``https://ebay.us/m/KxolR5
Prefer to know the price up front...then I'll pass or play.
Choice Numismatics www.ChoiceCoin.com
CN eBay
All of my collection is in a safe deposit box!
Interesting...did anybody else notice that the vote results for the poll are not anonymous? I see icons below each of the poll graph bars...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
When I put this together there was an option to keep the poll anonymous. I wanted to see what the other options would do. Good thing to know. Doesn't change my vote!
LOVE IT
Thanks for posting a poll.
I like to know the price up front, unless I'm buying a whole collection. Oftentimes, I'll ask someone to write down the price they're hoping for before I give them my written quote. Then we have a good place to start talking. If my price is higher, that's what I'll pay.
Edited to add:
Anonymous answers were good when asking questions about values of collections. I can see some not wanting to answer those kinds of polls in the future. On the other hand, it may call out the jokers that put in obvious crazy answers.
It will definitely be good for GTG polls, to see who got it right.~~
I prefer to know the price up front, b/c if we're worlds apart, then nobody gets insulted but, if we're close, then we may cut a deal.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
So, those of who you answered "know the price up front," do you give the same info to a dealer when selling a coin? Or do you ask for an offer first.
I think there should be a warning in the poll that it's not anonymous.
Good point!!
As a dealer I have to say that some offers are insults and set me off .
I spend time pricing coins at a fair market price why should someone offer less than the wholesale market is paying?
Whoever throws out the first number loses. That's what I heard on Pawnstars so it must be true. And, watching the negotiations I want to jump through the TV and throttle some of the people bringing stuff in. Seriously, if you don't know what you have, and you are taking it to sell, don't say you have no idea what it's worth and then throw out a number.
Speaking as a buyer, not a seller-- I do like to know a price first, for many of the reasons others have said--if we are miles apart then no one has to be insulted (or look like an idiot) by a lowball offer. On the flip side, if (still as a buyer) one throws out a number and the seller jumps all over it then one suspects one offered too high.
Yes, I give the same information when selling a coin to a dealer. I do my homework. I will however listen to them if they make a strong case to lower the price reasonably I will. Only once did a dealer go up in price after my selling price was given... Yes! this happened.
They need to give me an asking price so I know whether to play or pass. I wouldn't even ask about a coin if I didn't have any understanding of it's value.
I agree, I'd prefer to see where we are before beginning any negotiations.
If moon money is desired, I'd just politely pass.
My YouTube Channel
I like to see a price so that I have an idea of the other person's expectations. If I am interested I will take a good look at the coin and then say something like "Do you have any movement on this?" If the price is not right I don't argue, just say thanks and move on.
Unfortunately, a lot of dealers don't price their coins at a fair market price so a lot of customers have become accustomed to starting with a low offer to try and get a reasonable price.
Glad the dealers never insult with their offers.
I realize that I answered the poll question at the beginning of the thread, but I wanted to take a moment to expand upon that answer. As a dealer offering coins to clients or potential clients I prefer to have prices listed on the coins so that folks can have an internal dialogue, if required, with themselves regarding the possibility of purchase prior to discussing a purchase with me. Similarly, when folks offer coins to me for sale it makes it somewhat more streamlined if there is an initial price attached to the coin, which allows me to have a better idea if there is a potential transaction that could happen between us. Of course, with folks I have dealt with previously there is not the same need, but information is always nice to have.
In honor of the memory of Cpl. Michael E. Thompson
I prefer to know the price--and the dealer's best price, if we have worked together before many times--up front. No guessing or haggling. If negotiations are to be had, once the price is known, it is on payment structure (installments, if available), or trade scenarios. And then it's on the table as a yes/no proposition.
Gonna get me a $50 Octagonal someday. Some. Day.
I've heard from many dealers, especially those with choice material (toning, CAC, rare/scarce) that lowball/greysheet offers are insulting. I would feel the same way, in reverse.
Gonna get me a $50 Octagonal someday. Some. Day.
By toning I assume you mean only attractive toning. Some toning is ugly and actually detracts from the market value of the coin.
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
As far as pricing I ask the dealer for his best price and then play or pass. I don't want to waste my time or the dealer's time by haggling with him. On rare occasions I might make a counter offer but only if his price is close to what I'll willing to pay.
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 want to know the price up front.... many times, if no price is marked, I will just pass without asking. I did ask one dealer the price of a coin that I found appealing... he looked at me and said "You cannot afford it." I simply called him an anal aperture and walked....Cheers, RickO
agreed, otherwise, I'll just pass
BHNC #203
I would prefer to know the price, but rarely do. As a result, it's been a lifetime of making tens of thousands of offers.
The more information I have going into a negotiation, the better the potential outcome is for both of us. And like others here I do not want to insult anyone with an offer far removed from their expectations. Better to just move on.
Kind Regards,
George
Knowing the price up front saves you a lot of time. If the price way over market, that ends it as far an I'm concerned. The person is either looking for a rip-off or has delusional ideas about what they have.
I collect British coins in a limited way. I try to get one coin for each British king, often gold when possible, from Edward the Confessor to Queen Elizabeth II. I've got three to go.
I heard about a dealer at recent show, He sent me some emails, but every one of his quotes the three times the catalog price or more. He went on about how the catalog was wrong and about how his prices reflected "the market."
I knew from the start that I couldn't do business with this guy. I had purchased enough coins via private transactions and at auction to know that his prices were way out of line. It saved me a lot of time.
Well done ricko
Get the price upfront from the dealer. If they won't give it, make an offer where you know you can't lose anything. The owner of the coin should typically quote a price. If they continue to push you to make an offer, just say it's your coin, not mine....you set the price. In my early years there were a few instances where I was tempted to make an offer on dealer's coins....only to find out their actual asking price was far lower than what I would have offered. Yikes. That could be due to you missing a problem on that coin or the dealer not knowing what they have.
For a collector selling, you too should be giving an initial asking price to a dealer. It's no different here. You aren't a clueless heir.
If you ask for the best price. Don't then come back with a lower offer. They just gave you their "best price." If you want, say we're a bit too far apart so I'll have to pass. They just might come back with 1 more "best price"....lol. While the term "best price" is often tossed about, I think both buyer and seller often have more room even if they claimed to have quoted a "best price." And whether you lose or make money on a coin should have nothing to do with "best price."
I agree
If we are talking about the BST here I wont even consider it if the price is not clearly stated.
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Successful BST:here and ATS, bumanchu, wdrob, hashtag, KeeNoooo, mikej61, Yonico, Meltdown, BAJJERFAN, Excaliber, lordmarcovan, cucamongacoin, robkool, bradyc, tonedcointrader, mumu, Windycity, astrotrain, tizofthe, overdate, rwyarmch, mkman123, Timbuk3,GBurger717, airplanenut, coinkid855 ,illini420, michaeldixon, Weiss, Morpheus, Deepcoin, Collectorcoins, AUandAG, D.Schwager.
One other way to get a feel for where a Dealer operates is to look at what he/she has that IS marked. If prices are reasonable on the items you see then it stands to reason that the coin you're interested in will also be reasonably priced.
In the beginning I was like many who would just walk by and not even ask if a Dealer has no prices listed at all. That's pretty lame especially when the same Dealer will be chatting up a storm with someone where you can't get a word in edgewise. They should want to sell at shows to offset the high table fees but sometimes their priorities are out of order.
I do that just to get you wound up!
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Yes, choice material = choice toning that is generally attractive. Not all toning is attractive to everyone, of course, but I'm not referring to neutral or worse toning.
Gonna get me a $50 Octagonal someday. Some. Day.
I like it best when the seller starts by asking an outrageously high price, and the buyer counters with an absurdly low price.
Then, it's most entertaining when they go back and forth as many times as possible, with the prices slowly creeping closer.
Then, when the price is finally agreed upon, it's great when they give each other a big hearty handshake and pat on the back.
Liberty: Parent of Science & Industry
I prefer to have a price in mind either buying or selling.
Mike
Tell me how much and I'll pay or pass. I do not try to whittle down prices.
I prefer to know a starting point up front. This tells me whether it's worth spending more time trying to buy the coin.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Very cool keeps track of who did what.
Hoard the keys.