Why coin dealers drink--Part CCCCXXXXI
CaptHenway
Posts: 32,763 ✭✭✭✭✭
Sweeping generalizations such as this:
"I now truly believe that all coin dealers are pond scum. One step below real estate agents and Lawyers. What do you all think? They can't help themselves from their bad behavior. May be I haven't dealt with enough of them to actually find an honest one. But let me give another example. I was on the phone talking to someone a while ago who you all respect sooo much, not going to mention any names. Was asking why this early American silver dollar that was for sale on Ebay had no sticker on it. Told him that I have seen it in a previous auction and it had a sticker on it. Well after some back forth about how I should be careful about buying coins cause they could be knockoffs he bought the coin while I was still on the phone with him. I know what he did. You cant't even trust the gurus!!!"
Comments
I trust the Guru!
Generalizations are much like a fishing net.... you get a bunch of fish... not all are the same. Most are good though and you can throw back the others. Life is like that too.... Cheers, RickO
As a question for you- I imagine that there are 10's of thousands of people who look at ebay per day. If you felt it was a good buy, why not go ahead and hit the BIN yourself? Anyone else could have bought it as well during the same time.
The fact that you were hesitant and pointed it out to someone else, I dont see how you can fault them for buying it right then and there. Once again, I can see why you would get annoyed- but understand that there are thousands of other people who could have had the same opportunity and bought the coin from right out under you as well.
I had a coin friend of probably 5 years call me up asking me if I saw a particular lot in an auction that was ending later that day. I said I was bidding in the sale but was not up to that lot number yet and therefor had not bid on it. The coin in question was a NO RESERVE 1907 $20 high relief pcgs au58 cac. I explained that since the auction was no reserve and being offered to tens of thousands of people- for him to ask me specifically not to bid was quite unfair. I told him to bid his highest that he was willing to go and I would do the same and may the higherst bid win. So he ended up putting in a bid and so did I and my bid beat his. When he realized I was the one that outbid him he got all upset and called me a whole bunch of names and till this day we dont talk anymore.
As it turns out, I didnt end up winning the coin anyway.
My philosophy is I will bid what I think it's worth, if you beat it, bless you. Now if you beat me by a penny, you might owe me a drink, but I'm not going to lose a friend over it.
Nothing here to disagree with.
There are good and bad in every field, though clearly some fields are more fraught with challenges like pawn shops and gold buyers. The best dealers I have known had a regular profession before going numismatic for their livelihood.
They say one of the common denominators of alcoholism and other addictions is isolation; the solution to that is being friendly, attend various sociable meetings, practice what Dale Carnegie taught.
Maybe he know it was a good deal, and being on ebay, knew someone else would snag it, so it bought it.
His plan was to sell it to you for what he had in it, after assuring it was good, but he was attacked and so it owns it now.
If your calling another coin collector and expecting free advice on a good deal that is asking a lot. Good deals are far and few at times. Lesson here pull the trigger next time. Don’t let money come between you and others. Most dealers will throw bones once in a while you always want to keep that line open.
Best place to buy !
Bronze Associate member
Scum, like cream rises to the top. I think on that note, a shot of Bailey’s Irish cream may top off my coffee this week end .
Happy _ _ _ _ _ _ _ New Year.
``https://ebay.us/m/KxolR5
Loose lips sink ships and friend-ships.
As a lawyer and a part-time coin dealer, there's only one thing I can say: It's time to get my real estate agent's license.
Tom
"Pond Scum?"
I'm not a dealer but if there is no profit in what you do, then who is gonna pay your light bill?
Surly it's not going to be the person you sold that no profit coin to.............
This kinda is OT from the gist of the OP
Pete
Life is just too short to get one's knickers knotted about these kinds of things (just to be clear, I don't mean Capt Henway, but the person quoted in his post. ) Better in the long run to make friends than hold grudges about missed opportunities. ((this just from the perspective of a primary care doc who sees what fate deals out on a regular, and seemingly random, basis. ))
Had to put this somewhere....
My auction was a true auction, starting a 1 cent. Nobody forced this toolbag to bid.
Auction. 273115310752
New message from: feng-vicky (142Turquoise Star)
Oh my god. I am sorry about the piece is too expensive. Please cancel the item.
Just don't ask for solutions to the problem on the ebay forums, they will be sure to find fault with you as the seller. What a group of sniping, toxic, hyenas and jackals on the ebay "help" forums.
So this guy asked me to lower a $300 coin on eBay to $150 (eBay coupon I guess). This is like the 10th time he asked me to lower the price of this particular coin.
So, I raised the BIN to $330 and told him that is the price.
I generally raise my BIN prices unless someone gives me a "serious" offer
Sounds like you are quoting one of your non-dealer clients who got swooped because he didn't know enough to keep his @#&%$ mouth shut. Also sounds like the person who you quoted wants to be taken seriously, but it's hard to do so because he's really just a wannabe.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
"Part 441" That's more parts than an Ikea bookcase!
I ran into a local PNG dealer at the town library earlier; he related this drink-worthy ebay story. Customer buys a PCGS and cac certified coin after trying to haggle the dealer down to $800. With some back and forth he buys the coin, double certified for around a grand. When he gets it he opens an "item not as described" case on ebay wanting the dealer to provide a shipping label for the return without giving any good reasons. While this is in process the customer realized they got a deal below real market and decided to keep the coin. At that point the dealer, who is also the holder of numerous inventions/patents, tells the customer to resolve it with ebay.
Threads like this are why forum members drink.
Probably been said but not going to waste the time looking at past posts. Drinking takes you nowhere but down. Don't do it. If dealing coins makes you drink, time to find another profession. ASAP
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Drinking is ok I'm moderation, but it's just water for me. Used to drink a little, but don't now. Don't miss it at all.
Considering we're at episode 441, an intervention is off-topic and viewed as a potential trolling violation.
No one here is in denial of that as an issue.
Many dealers report that booze gives them a clarity they would not so readily have otherwise in seeing their customers faults
Page 449, 3rd. Edition. You either get it, or you don't.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I’m gonna go out on a limb here and say that “Why coin dealers drink” is simply a METAPHOR for dealing with a difficult situation. Likely very few dealers actually become alcoholics because of those situations and if they do, there is most likely other extenuating circumstances that drive it.
Frankly, I myself am a bit offended by your statement that “drinking takes you nowhere but down”. That paints with a broad brush the billions of people who enjoy a drink and suffer no ill effects or degradation of their lives.
Lack of personal responsibility leads to a pathway down.
In working many years in accounting pond scum would be a compliment to some worked with. Every profession has its bottom sludge.
Dealers facing a tough market. If bids were going up 10 pct a week u would not even notice the boo birds.
Those are good points, and I never want to go into the deep end with alcohol, but it sure can take the edge off of some bad vibes from time to time with a benign effect. There are lots of good coping strategies dealing with people in business who are difficult; give it 24 hours before you respond is one option.
As mentioned, it's a metaphor -
It could have been titled:
"Why Coin Dealers Roll Their Eyes"
We all have these types of stories -
I could share 1 or 2 every single day.
Feel free to share! I bet you do get some good ones!
Cannabis for everyone...no need to drink.
How about this "dealer smoking dope" story:
I sold an 1982 "mint set" [Mint souvenir] for $63 on eBay. The buyer paid. I shipped it the next day. The buyer got it and two days later opened a return. The reason: accidentally entered the wrong bid. [Guess he didn't notice the $63 payment for the ONE ITEM he bought for $63.]
[Note: I accepted the return. Refunded his money - including 2 way shipping (Yay me!). And blocked him forevermore.]
"Oh my god. I am sorry about the piece is too expensive. Please cancel the item."
I got this email from the winning bidder, 1 minute after my eBay auction ended. It was true auction with no reserve, starting at one cent. I swear I didn't force the person to bid.
"Mau-Mauing" Maui Wowie
my version of "Bau-Bauing" 
Both dealers AND collectors can have many stories to tell about the other.
Just human nature to have some nuts around each side...
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Enjoyed the post Cap'n and very relieved to hear, as @Mission16 explained, you were employing a metaphoric grammatical device.
I know many of us were getting concerned.
"Inspiration exists, but it has to find you working" Pablo Picasso