High volume wholesale dealers at the world's fair of money...who?
opportunity
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The type of dealers I'm looking for buys and sells high volumes of collector grade US coins to the public @ true wholesale and thin margins. Can anyone give me a list of this type of dealer?
Early American Copper, Bust and Seated.
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Coleman Foster
Look closely when you do!
Does such a dealer actually exist? If so, wouldn't every collector be looking to sell to them...and also buy from them? The rest of the dealers working on 15-40% margins would see their transactions shrivel up....and there are a ton of those guys out there. Cougar is always commenting on how they like to work on large margins and have no problem finding the coins.
???
Early American Copper, Bust and Seated.
I believe amworld is saying you better be able to grade and detect problems yourself.
LOL! Lottsa coins that look great with problems that easily slip by unless you have a very sharp eye!
That would be interesting... not sure why anyone would do that, unless simply liquidating stock. No sense in throwing away profit.... Cheers, RickO
A dealer that sells at wholesale level to the public will probably not have too many other dealer friends. This type of thing undermines other dealers and the market.
Actually not.
It gives dealers an outlet for crap.
This is actually the kind of dealer many other dealers value highly. It's an incredibly labor-intensive niche that supports the market.
Got 20 pieces of '26-s 1c in XF? Who ya gonna call?
When I was dealer, all the "wholesale dealers" who stopped by my table didn't have much. It was usually a some cheap, raw modern coins, or raw older material with problems.
If you want to talk high volume and some interesting stuff, Coleman Foster, is the best you will find ... IF you can get a seat at his table. He's usually quite popular.
If you're looking to buy high volumes, lots of dealers will work more closely. If you're planning on taking your time, not spending a lot of money, and not paying retail for what you do buy, you're going to wear out your welcome quickly, even if you do find the guys wholesaling tons of coins to other buyers. In other words, if you want to be treated like a dealer, you'll have to behave like one.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Years ago, when a dealer friend(now retired) told me about coleman foster and sent me over to his table to unload some stuff for him, I was simply amazed. One line of people offering stuff to him to sell, prices right out of his head, literally doesn't have to look stuff up and writing check after check as fast as he can write them. *unlimited funds apparently, then on the back table, dealers going thru boxes of stuff he is selling like they were gathering up acorns.
It was simply amazing
As far as I know, if you don't have a dealer badge, you will not get a seat at his table.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Royalty Coins would also be close to this.
I think Coleman also has a minimum you have to spend.
That outlet already exists with GSC
This! I approached them at the FUN show in January. The woman said I had to be a dealer to look.
On a slow day, with an intro from one of his very, very good customers, he gave me 10 minutes of his time. I learned a lot.
ANA 50 year/Life Member (now "Emeritus")
The true wholesale dealers I know do NOT sell to the public.
That is a fact.
And they don't sell one or two coins at a time more like 50 to 200.
A few years ago, I drew tables next to Coleman Foster at a couple of different ANA shows. At the beginning of the show, every single chair at his table had someone sitting down, with a line of 2-3 people deep standing behind each chair. If you weren't regularly putting aside a few coins a minute to purchase, you'd start to get rushed by one of the table helpers. Quite the operation. I never bought from him, but got fair prices selling him decent raw coins with minor issues that prevented slabbing.
I know dealers that just sell crap, that does not make them a wholesale dealer. A true wholesale dealer does not sell to the public and if they do it is at higher level. Coleman Foster as mentioned above is one of the true wholesale dealers.
If you wish to deal with the true wholesale dealers at any show, be prepared to buy lots of coins, spend lots of money and (especially) make quick decisions. No tears, and no returns, obviously.
You will be welcomed by those dealers. But if you do not, you will not be welcomed back, and they will likely give you the "bum's rush" to get you out of there on your initial , so a real buyer can take your place.
I am speaking of the great, "we'll take ANYTHING off your hands" dealers.
It allowed me to buy the CRAP from customers and know I wouldn't have to try to resell it to VALUED customers.
There is ....NO.... substitute for their open checkbooks and uncaring of quality stuff.
THEY....BUY... THE JUNK THAT NORMALLY ACCUMULATES IN ....EVERY.. STORE.
God bless em and their list of suckers who buy .....anything cheap.
Well, you are talking about something different than I think than what the OP was referring to and what my original post was about, as I believe that the OP is a collector and not a dealer. If this inference is incorrect then I think that the OP should specify. I would think that most if not all dealers would know who the Wholesalers are unless they are just completely new to the game. Yes I have wholesaled slow moving or unwanted items before to dealers that stopped by my table at a show because they had somewhere to pass it along to. Yes, god bless these dealers for helping to keep things moving along.
This is a great thread.
These dealers have always kinda fascinated me. There used to be a couple that would show up at the Albany, NY show a couple times a year. Also the guys that would supply the TV coin shows. It was always nice to blow out a hundred proof and mint sets at a time. Dad always had tables in the corner near the loading door. Upstate Coin was on the other side of the door. I remember dealers selling them bags upon bags of Delaware quarters when the Statehood series started! First time i ever held a 1000oz silver bar was there.
Also in stamps: I remember Dad having me do a quick tally on a couple boxes of plate blocks and sheets when a guy was at a show. He bought everything Dad offered him and Dad got a check for mid 4 figures and never bought another plate block in his life.