Looking for honest mid level coin dealers please
BAYOUBENGAL
Posts: 100 ✭✭✭
Ok, full disclosure, I’m a life long collector. On again off again but at times have been active in $5-15k coins. All US. I am NOT looking to make money in coins, just tired of getting ripped off. More than happy to have a dealer make money off me. But because my annual spending is maybe 50,000 I feel slighted. Sure I buy from some auctions etc and at least then have some price discovery and data to work from. My collection (heritage data) is worth $350kish high I guess means it is worth 250 maybe if I had to sell. But I don’t have to sell and I don’t have time or knowledge to research. I have bought from big dealers who promise me if I resubmit my 15,000 coin it will be cameo, but it never is.
Enough complaining, good and bad in all professions (mine included) who are some go to dealers for $5-15k per coin buyers who may spend 30,000 in a month and then buy nothing for a 6 months. And yes someday I WILL (god and wife willing) own my dream 1894-s dime. Thank You for your input...
CFA, LSU AND ANA
Comments
What series are your main interests?
Buffalo nickel series, Barber Quarter 65+, liberty nickel proof 67, type top 100 coins modern and old from books (obviously I will never be able to buy 50+) of top 100 classic 1804, 1913 Etc..
CFA, LSU AND ANA
I was hoping you were talking about a dealer like me. I shudder to think $5-15K coins are mid level but I guess in some sense they are. Mid level to me would be say $200-$5,000.
Ok amwldcoins.. I went to your eBay store, you have some very nice things! Real collectors stuff.. what us coin you have listed to you recommend in the $500 area?
CFA, LSU AND ANA
Pinnacle Rarities comes to mind based on that level. They have excellent photos too! Angel Dees has a good reputation in buffalo nickels. Americana Rare Coins is a Barber specialist too.
Thanks met angle deees awhile back they seemed like a nice couple and knowledgeable, been meaning to reach out to them..
CFA, LSU AND ANA
Read Bob Shippee's Whitman book, Pleasure and Profit: 100 Lessons for Building and Selling a Collection of Rare Coins. It's dealing with coins in your price range and the writer is brutally honest about why some coins sold for more upon resale and why some didn't.
I recommend Doug Winter if you have any interest in old gold. His prices are extremely fair. He is an expert. Will tell you if a coin is not for you and also is fair when it comes time to sell. In other words, he is honest.
David Lawrence Rare Coins immediately comes to mind. They have coins at most levels from cheap to very expensive (6 digit and up). I haven’t dealt with them personally but I have never heard anything but good about Northeast Numismatics, Pinnacle Rarities, and Julian Leidman. Stacks recently acquired a coin dealers business so will likely have a lot of inventory soon.
Good luck to you.
Did you look on www.ebay.com?
Yes use eBay a bit...lots of good ideas, but without naming names one of the dealers mentioned sold me an 1867 proof rays 65 for 70,000, today it is worth maybe 35,000...thoughts?
CFA, LSU AND ANA
Amwld just bought from you, thanks and look forward to working with you
CFA, LSU AND ANA
I like Northeast Numismatics.
PM sent.
I would recommend that if you are spending 50k a year that you make time to research. Your post here is a good start. Hanging around here can be educational.
I think of CRO (coin rarities online) John is great to work with and always has quality coins. The early bird gets the worm....
I like HLRC & RCNH
A second recommendation for Americana Rare Coins -- reach out to Glenn Holsonbake and he will be able to tell you more about how he can help with your collecting interests. He's a lifelong Barber and V-nickel guy.
A link for how to contact them for ease of access:
https://americanararecoin.com/contact
@BAYOUBENGAL
There is one key piece of information you mentioned: If a dealer wants to sell you a coin and PROMISES a higher grade (or premium attribute) when you submit the coin then please RUN AWAY. AND DON'T FORGET YOUR WALLET!
The BS&T forum on this site is chock-a-block with incredibly upstanding sellers.
Cheers
Bob
Angel Dees is absolutely reliable.
Here's a warning parable for coin collectors...
Markets change, sometimes drastically. Demand comes and goes for certain coins. I sold a nice MS63 1888-0 PCGS scarface for $10,005 just five years ago and now there is a bit nicer (same grade, PCGS, but with color) with a BIN on ebay for just under $6k. Huge drop. It happens. Now five years from now it might again be up at $10k or even higher. Angel Dees for buffalos for sure and I'm not a buffalo collector but have several friends that are.
bob
Some good dealers have been mentioned here BUT you have to be your own best advocate and that takes time to research each and every item of interest.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Lots of great dealer suggestions on this thread. The BST here is a great area to cut through the bull (fees) from eBay.
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,...
No offense meant by this, and I realize that whenever someone starts off a comment with "No offense..." that there is likely to be one, but given the depth of the pool that you swim in it makes my mind spin a bit that you would have these questions.
My advice to you would be to hang around on the boards, read up and get a feel for those who are respected for the values that you are looking for in a dealer. Good luck!
In honor of the memory of Cpl. Michael E. Thompson
I got your error coins covered if you are into them.
Your collection is worth as much as my house. That is not mid-level. It must be some incredible material.
If I had your income to spend on coins, I would likely work with a dealer that does the national show circuit, but would only buy from auctions screened by them and with them as my agent, sans the occasional purchase directly from them when they would have something that would tickle my fancy.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I've bought a few nice coins from The Reeded Edge.
https://www.reedededge.com/us-certified-coins/page/6/
James Sego,,,, JMS Coins,,, aka QA Check.
segoja on these boards PM him.
I would suggest you get a neutral agent who specializes in coins and their potential value now and in the future. IF I was a dealer I'd be hesitant working with someone that uses negative comments while looking for positive results. Just my 2 cents worth.
"A dog breaks your heart only one time and that is when they pass on". Unknown
“IF I was a dealer I'd be hesitant working with someone that uses negative comments while looking for positive results.“
In 2019, my goal was to stay away from negative people. In 2020, my goal is to try to stay away from positive people! 😉
Stay safe!
Wondercoin
Dave Kahn. Great dealer. Plus he is an aggressive buyer. He has the contacts to find what you’re looking for. He has a great coin eye also
Good luck
A lot of excellent recommendations here, and I commend you on seeking such advice. With the level of your spending/investments, I recommend you do spend more time on research. Also, remember, coin values will change, sometimes drastically, due to general collector interest, supply or market shifts. Good luck, Cheers, RickO
I like cro and hlrc with a few others they are good to work with
I sell a lot of nice type coins in your price range. Check out my website.
Sunshine Rare Coins
sunshinecoins.com/store/c1/Featured_Products.html
Warren Mills (personally) of Rare Coins of New Hampshire. Superb grader, highest integrity, 40+ years experience, honest as coin dealers get, great industry connections when you decide to Auction. Be prepared to be patient. Only a few on this board have ever spoken with him.
Well, if a dealer sold you a coin worth $35k for $70k, far be it from me to express my thoughts.
Wishing you happiness. I know your dealer is.
There's a story going around - might be urban legend - that some people have been upset when their Covid tests come back negative. Everyone wants a positive result, don't they?
No offense to your advice, but as I swim in that same pool, I have to contradict it.
I was screwed by one of the “famous” dealers just mentioned in this thread and a “forum favorite” when selling at a Baltimore show back when I was a noob.
Buyer (or in my case, seller) ALWAYS beware.
I would sort of echo what TomB posted with some additions.
you can go the route you're going and achieve the same results no matter what dealer(s) you choose because you're essentially ceding control of your collection to them. the amounts you mention, in valuation of your collection, individual purchases, monthly and yearly expenditures are substantial. the best you can hope for from your described approach is to see something you like and buy it with hype help from the seller. that is a poor way to spend large amounts of what I suppose is your hard-earned money.
since you admittedly will go for extended periods without a purchase I suggest you put that time to good use: study what you enjoy and desire, look at as many coins as possible(online or in person, what you collect and even what you don't) and try to correspond with like-minded collectors or someone who can assist you, someone who doesn't stand to profit from that assistance.
if these are your interests --- Buffalo nickel series, Barber Quarter 65+, liberty nickel proof 67, type top 100 coins modern and old from books (obviously I will never be able to buy 50+) of top 100 classic 1804, 1913 Etc --- then spend some time here and you'll find members who can help.
one point where I'll offer some sharp criticism is when you state that "I don’t have time or knowledge to research in the OP. the English dictionary has a word for this, it is LAZY. stop kidding yourself and stop making excuses. if you have a collection valued at $300k and you aren't interested in learning about it or from it then you aren't a collector, you're an investor and you should follow the merry path you're on, you'll end up getting what you deserve.
A lot of good suggestions. I would add Legend to the list - knows her stuff and her inventory and Regency auctions seem to be in your value wheelhouse. And take advantage of their knowledge to gain some of your own (i.e. what a good coin is, what the market is, where to find quality stuff, etc.) - it is what you are paying for.
+1
My Saint Set
Another idea might be to talk to or PM collectors here and in the Registry forum who specialize in your series of interest (for example Crazyhounddog for Buffalo Nickels).
The present value (of $35,000) doesn't tell us anything about whether the buyer was overcharged at the time of purchase.
Edited to add: For example, at least a couple of PR65 examples sold at auction in excess of $70,000 between 2012 and 2014. And several others have sold for well in excess of $35,000 during the past decade.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
A few things come to mind:
Find a mentor. Easier said then done but there are a lot of knowledgeable people here who would be more then happy to help you if you reached out to them.
Hang out on the boards. There’s a ton of free info here.
Go to a big show whenever they start and talk to the above mentioned dealers and find some who you might be comfortable working with.
Even if you have no interest in buying anything view as many coins as possible at the big auctions. Get a feel for the differences between the various grading services and look at CAC coins. Look at genuine coins and try to figure out why the coin didn’t straight grade.
With the added plus for the OP that they have handled 1894-S dimes in the past.
Pacific Northwest Numismatic Association
That's good, because coin dealers are not numismatic philanthropists.
How many times have you fell for this line? If a 'big dealer' is promising you an upgrade on submission ... then why did they not resubmit it and reap the profit? Hint: It's a rhetorical question.
Wow ... this is a telling question. If you are a life-long collector and tired of being ripped off and asking this kind of question, then you are likely seen as an easy mark by the 'big dealers.' Know what you want and know how to grade and know the value. Let me translate your question as heard from the other side of the bourse table ... "What US coin are you buried in can you unload on me for $500?" (and no, @amwldcoin is not that kind of dealer).
My comments are not meant to be harsh. What you describe are situations in which naive collectors often find themselves, except you have been collecting all your life at a level that few of us can afford.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
I agree Mr. Feld. This is where happiness entered the discussion. It is my hope that both parties enjoy the coin ( and deal), for what it's worth. In the hobby, we often pay way more for the best. But, if we gather good stuff , I will surely appreciate it more than the market.
Buy the Red Book.