DEAD discussion. Answered.

Insider2 · December 25, 2019 10:56AM

There are several who come to mind and they always treated me fairly years ago. I'll see if anyone agrees with my nominations before posting mine.

logger7 · December 25, 2019 11:16AM

There are a number of dealers that I would not even ask for an offer because they are low on everything but bullion. Typically I have heard "we have nowhere to go with that". Or "it's in the wrong holder". Dealers are in it for profits, not speculation and they don't like to run a museum.

Walkerguy21D · December 25, 2019 11:25AM

I don’t know of any.

I get my best offers by targeting dealers who specialize in what I’m selling.

DollarAfterDollar · December 25, 2019 1:15PM

I know of one Dealer who's bought every coin I've presented to him (generally @ 15% to 20% back of bid) except one. He didn't explain why he didn't want that one but I'd assume he had plenty.

I'd rather not name names, that just seems wrong in my simple brain.

cameonut2011 · December 25, 2019 1:16PM

CAC if it stickered

cameonut2011 · December 25, 2019 1:17PM

Northeast also has a broad focus and has always been very fair to me.

SoCalBigMark · December 25, 2019 4:02PM

Wayne Herndon

Insider2 · December 25, 2019 4:08PM

@logger7 said:
There are a number of dealers that I would not even ask for an offer because they are low on everything but bullion. Typically I have heard "we have nowhere to go with that". Or "it's in the wrong holder". Dealers are in it for profits, not speculation and they don't like to run a museum.

Then why are you posting? Do you know any dealers who buy your mistakes just to help out? For example, Leon Hendrickson always treated me fair and I never left his table with a coin I offered to him. I know a few others that are the same way.

MrEureka · December 25, 2019 4:23PM

Speaking for myself, there are less than ten people (out of thousands) who can show me anything and almost always get an offer. I do that because I often get first shot at their coins, they don’t shop the coins and sell me out for small change, and they let me make a buck. Similarly, there are only a few dealers (out of thousands) who I would ask to make offers on piles of coins, which they do, and I let them buy almost all of it. The point is that this is a two way street, and dealers can’t be expected to treat everyone the same way. Which, BTW, is why I would not name names in this thread.

RockyMtnProspector · December 25, 2019 4:26PM

There's a dealer near me who sets up at all the local shows and has a B&M and has made an offer on everything I've ever shown him, and anything that others do as well (that I've seen). He will pay up when necessary, pays fairly on everything else, and is probably the best on gold in the area.

sparky64 · December 25, 2019 5:01PM

I had a decent, R4+ CBH I was peddling at the ANA in Philly.
It was not high end enough for one dealer. His helpers showed it to him and he had his helpers tell me "nah, not intetested." Cold as ice. Will not be back.

Showed it to another dealer and again it wasn't quite good enough for what he was marketing. He showed me his inventory and I could easily understand where he was coming from. We chatted for a bit and he steered me over to see David Kahn. Very nice and will visit again.

Mr. Kahn was amazing with his personal attention and knowledge. Generous with his time and was very happy to make a fair offer. Sold and gained a big fan.

Insider2 · December 25, 2019 5:11PM

@MrEureka said:
Speaking for myself, there are less than ten people (out of thousands) who can show me anything and almost always get an offer. I do that because I often get first shot at their coins, they don’t shop the coins and sell me out for small change, and they let me make a buck. Similarly, there are only a few dealers (out of thousands) who I would ask to make offers on piles of coins, which they do, and I let them buy almost all of it. The point is that this is a two way street, and dealers can’t be expected to treat everyone the same way. Which, BTW, is why I would not name names in this thread.

While I understand your sentiment, there are "dealer's dealers." They are the outstanding dealers in the business. They treat the little guy and the big guy the same and I think they should be singled out. Leon is no longer with us - RIP. Many others are and some of them I have not mentioned will be at the FUN Show.

Out of respect for your opinion, I'll see how other CU members respond to this thread. Names or no names.

KOYNGUY · December 25, 2019 5:15PM

I remember as a young dealer going through Leon Hendrickson's boxes nearly 40 years ago. He did a lot to support the show market by putting a number to everything and then only asking 2-10% over his circled buy price. This may not seem like alot now in this computer age, but when the market is falling around you, a guy that will put a real number on a coin is shelter in the storm. Too many people just shaking their heads no when fear and ignorance rule the floor. Also I learned alot at his table just hearing his interactions with people. Loved that guy. J.P.

MrEureka · December 25, 2019 5:27PM

@Insider2 said:

@MrEureka said:
Speaking for myself, there are less than ten people (out of thousands) who can show me anything and almost always get an offer. I do that because I often get first shot at their coins, they don’t shop the coins and sell me out for small change, and they let me make a buck. Similarly, there are only a few dealers (out of thousands) who I would ask to make offers on piles of coins, which they do, and I let them buy almost all of it. The point is that this is a two way street, and dealers can’t be expected to treat everyone the same way. Which, BTW, is why I would not name names in this thread.

While I understand your sentiment, there are "dealer's dealers." They are the outstanding dealers in the business. They treat the little guy and the big guy the same and I think they should be singled out. Leon is no longer with us - RIP. Many others are and some of them I have not mentioned will be at the FUN Show.

You’re ignoring the fact that when you offered coins to Leon, you always sold them. Maybe you countered sometimes, but you sold them. So we know you were fair to generous with him, and you didn’t waste his time. Now, imagine how things would have been if you routinely rejected most of his offers, and if he learned that you were using his bids to extract marginally higher offers from other dealers. Like I said, it’s a two way street.

Unknown · December 25, 2019 6:18PM

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thebeav · December 25, 2019 6:20PM

Yes,God rest his soul, Leon was great !
I did business for many years with Mark Ballentine,from Olde Saratoga.
We usually agreed......I believe he's still working and he's a good man......

streeter · December 25, 2019 6:40PM

There is a dealer in Southern California that has never turned down a coin from me. When I show him a coin, I usually ask 'what do you think'?
He never responds 'what are you looking to get'? If it's a simple 3 figure coin-he'll make an offer that is usually(90%+ of the time) acceptable. Ha, one time I thought the offer was too high & countered lower. I don't think he ever forgot that. If it's 4 figures, he'll take it back to his desk & think about it while I do things. Sometimes I have had to delay the transaction but I made it a habit to attach his buy quote to the coin.
Over the years he has been a pleasure to deal with. One time I bought a 1787 Maris 49 in L.A. in the morning. Terribly underpriced. Made a slight detour & after lunch showed it to him. His eyes told me the story. 'You going to sell that to me'?
Sure. Instant liquidity. Yeehaw. For 3x what I paid in the morning. I traded it for an ten lib in 3 but was a tad short on the deal. He hands me the lib & says 'take care of this in 30 days, OK?' I did. 6months later he buys back the lib & pays me quite a bit more that I pd him & I'll bet he still came out fine. I know he did.
I'm just a small time guy & feel lucky to be able to do business like this.

Cougar1978 · December 25, 2019 11:25PM

One guy who’s shop runs radio ads that they take it all. Another who is a major wholesaler with shop in a major city will make offer most slabbed coins.

A dealer is usually going to make an offer on anything he needs for inventory, material in his area of specialization, or has good potential sell quickly. At a recent show a guy came up to my table with a plastic bag of about a dozen mod commem silver dollars all PCGS MS or PR 69. I bought them all. I will make offer on just about anything area of interest or can move quickly. Not all offers accepted of course.

Unknown · December 26, 2019 3:33AM

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CCGGG · December 26, 2019 4:38AM

Two dealers located in the NE US that have always bought every PCGS and NGC slabbed coin I've offered. Ballpark offers over the phone or email and finalized once received. Fair (not great) offers and often more than I can get at a coin show in person. Names withheld.

thebeav · December 26, 2019 5:42AM

@jmlanzaf said:
Are we talking "ANYTHING" or just "ANYTHING U.S."? For example, I've never known Mark Ballantyne to be a buyer of 15th century German gold.

This thread is about "Anything I've shown them"......Not anything that you have shown them....
I would think the number of dealers making offers on 15 century German gold would be rather limited.

amwldcoin · December 26, 2019 5:47AM

Well anyone can start with an offer around spot. After all an offer is an offer!

@thebeav said:

@jmlanzaf said:
Are we talking "ANYTHING" or just "ANYTHING U.S."? For example, I've never known Mark Ballantyne to be a buyer of 15th century German gold.

This thread is about "Anything I've shown them"......Not anything that you have shown them....
I would think the number of dealers making offers on 15 century German gold would be rather limited.

thebeav · December 26, 2019 5:52AM

Yea, I guess......
I think I just thought we were talking about legitimate offers.
The list of names would be too large if it were to include smelters and hotel buyers.....

JimTyler · December 26, 2019 6:04AM

Northeast numismatics but I've only run decent stuff past them. Most of the time acceptable offer.

Unknown · December 26, 2019 6:41AM

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Unknown · December 26, 2019 6:41AM

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Insider2 · December 26, 2019 9:22AM

@MrEureka said: "You’re ignoring the fact that when you offered coins to Leon, you always sold them. Maybe you countered sometimes, but you sold them. So we know you were fair to generous with him, and you didn’t waste his time. Now, imagine how things would have been if you routinely rejected most of his offers, and if he learned that you were using his bids to extract marginally higher offers from other dealers. Like I said, it’s a two way street."

Nuts! Leon sold me coins I wanted at what I discovered were excellent prices and he never turned down anything. All I ever said was "I paid X for this, what can I get." I know he over-paid on several occasions.

My question centers around this. When I ran a coin shop, I made fair offers on EVERYTHING including the junk. The shop did OK. There are dealers in this business who probably do the same. I can think of two who's tables are always packed!

MrEureka · December 26, 2019 10:41AM

@Insider2 said:

My question centers around this. When I ran a coin shop, I made fair offers on EVERYTHING including the junk. The shop did OK. There are dealers in this business who probably do the same.

Of course. A coin shop operates differently than dealers at shows. Mainly because people who bring coins into coin shops are far more likely to sell, and far more likely to leave some meat on the bone. But also because there's not enough time at coin show to make offers on everything IF IF IF the seller is unlikely to sell.

MasonG · December 26, 2019 10:44AM

@MrEureka said:
But also because there's not enough time at coin show to make offers on everything IF IF IF the seller is unlikely to sell.

And even if they are likely to sell, the stuff they're selling can be too bulky to deal with for somebody who has to get on a plane to get home.

Insider2 · December 26, 2019 10:50AM

@MrEureka said:

@Insider2 said:

My question centers around this. When I ran a coin shop, I made fair offers on EVERYTHING including the junk. The shop did OK. There are dealers in this business who probably do the same.

Of course. A coin shop operates differently than dealers at shows. Mainly because people who bring coins into coin shops are far more likely to sell, and far more likely to leave some meat on the bone. But also because there's not enough time at coin show to make offers on everything IF IF IF the seller is unlikely to sell.

IF, IF, IF a dealer is too busy to look at coins at a show OR IN HIS STORE, he is not going to be part of this discussion.

Again ask a really simple question and ALL the "deep thinkers" appear posting "what if's."

Thanks all for posting. Best to forget about it.

CoinJunkie · December 26, 2019 11:06AM

@Insider2 said:

@MrEureka said:

@Insider2 said:

My question centers around this. When I ran a coin shop, I made fair offers on EVERYTHING including the junk. The shop did OK. There are dealers in this business who probably do the same.

Of course. A coin shop operates differently than dealers at shows. Mainly because people who bring coins into coin shops are far more likely to sell, and far more likely to leave some meat on the bone. But also because there's not enough time at coin show to make offers on everything IF IF IF the seller is unlikely to sell.

IF, IF, IF a dealer is too busy to look at coins at a show OR IN HIS STORE, he is not going to be part of this discussion.

Again ask a really simple question and ALL the "deep thinkers" appear posting "what if's."

Thanks all for posting. Best to forget about it.

Wow, you start a thread, get some perfectly reasonable responses, decide you don't like where the discussion is going, and then effectively shut it down. Yeah, I guess democracy really is dying... :'(

Insider2 · December 26, 2019 11:24AM

You are very astute. I did get 2 or 3 actual ON SUBJECT reply's along with many perfectly reasonable responses that did not answer my simple question.

In fact, one of the reasonable replies suggested that my question might be inappropriate. I don't wish to waste my time or that of others; however, you and the other reasonable members can continue to post to your hearts content. I've removed my "bookmark" and will not be checking back.

PS CU is not a Democracy!

abcde12345 · December 26, 2019 11:25AM

A provocative topic. I wonder what the OP's agenda was in posting it.

CoinJunkie · December 26, 2019 11:30AM

@Insider2 said:
You are very astute. I did get 2 or 3 actual ON SUBJECT reply's along with many perfectly reasonable responses that did not answer my simple question.

In fact, one of the reasonable replies suggested that my question might be inappropriate. I don't wish to waste my time or that of others; however, you and the other reasonable members can continue to post to your hearts content. I've removed my "bookmark" and will not be checking back.

Right. My point is that just because you (as the originator of the thread) no longer found the discussion useful does not mean others who were posting in or monitoring it felt the same way. If you did not find value in the thread anymore, then why not simply ignore it going forward and let it run its due course without you?

BryceM · December 26, 2019 11:33AM

The relationships I have with dealers are important to me, and have been cultivated over many years. Mutual trust and respect aren't the easiest things to establish in the coin world. Discretion in the coin world is highly valued. On occasion I've made public disclosures of certain things over the years that seemed trivial to me but resulted in a "Please don't share that" reply from those same dealers. Live and learn, and learn, and learn. At this point, it seems prudent to play this sort of thing close to the vest.

If you're not getting the sort of replies to this thread you're wanting, this might be part of it.

DEAD discussion. Answered.

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