OK dealers......let's see them.
Coinstartled
Posts: 10,135 ✭✭✭✭✭
The coin that has remained unsold in your inventory for the longest time.
As it is St Patrick's day you are granted immunity from calls of SPAM....well today I guess it would be corned beef.
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I got the idea for this thread from a dealer that bought an autographed baseball from me for resale. He sent me a note that it is still in inventory. He bought it in 2009 or so.
I recently sold a raw Lincoln that I noted was purchased in 2010.
I made a nice percentage on it, but that's way too long to hold stock.
Shame on me!
No one will post since said coin will still be in their case at the next show!
A Dealers "inventory" is simply his collection. If he/she has a coin a very long time they obviously cherish it too much to part with it. (Or it's obviously dipped).
Sold a coin at the 2009 ANA and it's been bouncing from dealer to dealer ever since. Didn't help that the market for that coin went down faster than.... oh, never mind.
EAC 6024
I actually like the idea of this thread. Maybe something nice will pop up.
I can count on one hand the number of coins I've sold and still have some fingers left over.
6 years ago I bought a Maryland Tercentenary Commem from dealer A.
Due to unforeseen circumstances within a few weeks, I needed to sell it.
Was too embarrassed to sell it back to dealer A so I sold it to dealer B at about a 20% loss..........It's still there.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
This is funny... There are some dealers in the PNW at shows I used to attend that had the same coins displayed for the 20 years I went to shows there.... After seeing some of these coins year after year I would ask about one or two that interested me... the price always was the same... I discussed inventory carrying costs and other economic reasons that support inventory turnover, but to no avail. I am sure those dealers are still renting tables and those coins are still there.... Cheers, RickO
Yup, Rick and those coins were still there when I left the PNW at the end of 2015...
But it's everywhere. There is a dealer here in DFW that sits there as the lord of the manor, allowing us mortals to approach and examine his NNC coins - presented as if NNC were PCGS's more conservative cousin. He has sold some, since when I first saw him he was exclusively NNC. Now it's down to about 50%. But those 50% of his inventory is the same as it was 4-5 years ago.
ANA 50 year/Life Member (now "Emeritus")
I've mentioned before, I went to Balt show and started counting MS65 Isabellas. I stopped when I got to 100 and nobody was offering super deals (or any deals at all). I'll bet they would now.
Maybe not. Coin margins are quite thin. Difference between a gain and loss might be 15%. Psychologically difficult to take a hit when you think the right guy for the coin might be right around the corner....
Ive only been at the shop for just over 5 years, but I do have a list of duds from before I started. Mostly low eye appeal high grade type, that was hot before I started collecting.
I remember an old guy who used to setup at shows just to get out of the house. He had the same coins in his case every time always priced well ahead of the market. One day a couple dealers decided to set him up. One went to the table and asked to see his most expensive coin, an early bust dollar. The guy asked permission to take the coin back to his table to show his partner. The dealer watched him VERY carefully as he went back to his table to make sure he did not switch the coin. That would have been hard as all his 2X2's had worn through to the brown cardboard from being erased so many times. Once back at the table his partner began making gestures like the coin was the rip of the century. The old guy RAN over to the table reclaiming his coin exclaiming it was not for sale. He spent the rest of the show erasing all his prices and raising them even higher!
We all had a good laugh.
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
I would show you the ones of mine that have been for sale the longest, but I am afraid they might sale then... haha. Like someone else said, my favorites are the ones I am asking the most for, cause I really don't wanna sell
Would you mind posting some pictures? I'm sure there's someone who will eventually want it so bad that your asking price is worth it.
Mostly my toned gold. Plus a few 1911-D Indians I cherry picked. Here are a few.
I remember back in the 1970's when I had a rare National Bank note. I took it to numerous shows for several years. Everyone was interested but nobody wanted to pay the price. I was only trying to make a small profit. I finally raised the price by 65% and put it on my price list. I received 12 orders for it!