Today's Coin Show deal.
Numiven
Posts: 382 ✭✭✭
Saw this coin and started talking to the dealer. The dealer was well out of range. Walked away. Made few more deals for the next 3 hours. All set, was leaving. This dealer comes running and stops me, tells me we should make a deal, where they pay me price guide from my trade and I get a good deal on this coin too. Bought in.
Price: $670. Is it a good buy? Can I expect a CAC on this?
6
Comments
I think you did great!! Nice coin great price..!
Awful picture and nobody could say anything definitive off of it either way
Awfully strange story...
In honor of the memory of Cpl. Michael E. Thompson
Oh! Really how do I improve in taking a pic of this coin? Pls explain.
Omg!
I'll explain why I think this is a strange story.
From how I read the first post, the dealer was apparently too high on his/her price so you walked away from the deal. Then, three hours later the dealer ran up to you to make the sale. The dealer bought your inventory at "price guide", which I don't know what that is since it is not defined, and sold his/her coin for $670. Although it isn't explicitly stated, I assume the $670 price for this coin is the all-in price that includes any cash/check you threw toward the dealer as well as your inventory.
If the above is a correct interpretation of the events, then the dealer began the negotiation too high only to chase you down later and unilaterally reduced his/her price to a point so low that only one example in a PCGS AU58 holder has sold at auction for less than it in the last approximately seven years and took your inventory for what you consider "price guide". Again, I do not know the definition of that term so it is quite vague.
It just reads odd to me. Of course, what you traded to the dealer would impact heavily how the post might be interpreted.
In honor of the memory of Cpl. Michael E. Thompson
Looks like a nice coin to me!
The price I paid for the coin is $670.
My trade was worth $525 in price guide that was reduced from the $670.
I owed the dealer $145 with my trade.
Hope things are clear now?
That is certainly more detail, but what did you trade?
In honor of the memory of Cpl. Michael E. Thompson
What is the coin you traded for $525?
Looks like a pretty CBH. Not sure why the dealer would sell it so low..........
Traded a 1881 proof nickel PR65 pcgs.
Nobody paid 525 for that checked around and sales were trending down on that proof nickel. Well, I bought it for 480 with bp in auction last month!
Are the photos you posted or the photos from the Stack's auction a better representation of the coin in hand?
I assume you are writing about a Shield nickel and not a three-cent nickel, since they were both produced that year. In that case, as long as the Shield nickel wasn't outstanding (and at $480 with BP I doubt it was outstanding) then it sounds like you did very well.
If you had included the relevant details in your first post, where you explicitly asked how you did on the transaction, it might have helped greatly.
In honor of the memory of Cpl. Michael E. Thompson
I do have a photo lab, came home and took pics of the coin immediately, this is what I got from that effort.
I try to match the pic as same as how it will look under a good lamp kept 2 feet up and holding the coin in hand at an angle to show colors.
Here is the link to the stacks images of the OP coin;
https://auctions.stacksbowers.com/lots/view/3-54T81
I like the coin myself and seems to be a pretty decent price. CAC approval? One way to find out.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
i wouldn't expect the coin to CAC. Not because it isn't nice but because it doesn't have the original look that they seem to prefer. I guess it only costs a few bucks to try though.
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I hope it does CAC for you, but I would bet it was already sent in prior to being auctioned by Stacks (or at least I hope it would have been). A 58 CBH w/ a sticker will catch a much higher premium than a straight 58.
Hope... Wish me luck!
From the coins I have seen at 58, this coin seems to have less wear on the wings, liberty cheeks and banner, also has a nice toning
Awesome Coin and I hope she CAC's for you...I do wonder with curiosity why a dealer would pay retail PCGS Price Guide for anything that he knew he wouldn't rake in some cash with...so let's see pictures of his take now that we have seen Nice IMO pictures of yours
Wow! You bought the coin for basically $100 bucks less than it brought at auction,almost $200 under PCGS priceguide and got full priceguide on your trade? What am I missing here? You really have to ask if you got a good deal????
I need to get you negotiating for me as all the coins I want I have to pay way over priceguide!
A complex deal which, as originally stated, would be hard to judge. TomB's questions helped to clarify things... You seem to be happy, however, there are still two points that concern me.... The dealer obviously had some further motive for 'chasing you down' and making a deal....that means either he had a buyer available for your coin at a good price or their is another reason he wanted to be rid of the Bust half....maybe both. I have only once had a dealer chase me down at a show after I turned down a deal at his table...Cheers, RickO
I had all these questions in my mind too.. I usually verify a lot of things....
From what I saw those 3-4 hrs, that dealer did not do a single transaction for the whole time. I also made a very good deal with another dealer right next (sold a $200 coin I bought at Greatcollections 2 weeks ago for a tidy $35 profit). This dealer off course missed that deal to, as he said he would pay me way under whats worth.
Thats why I am here to find out if anything might be wrong with this coin or deal that I am missing.