It can't hurt to ask, but the less a dealer knows you, the less successful the endeavor is going to be. A lot of my thoughts have been said already, so I'll just give an example of how I've been successful at this. I was looking for a coin and contacted a dealer with whom I've been working for a long time. I know him well, and he knows me and my collecting well. Now, I didn't say "hey I'm looking for this coin in that grade," rather I listed that, but then also specified the specific attributes I cared most about. When it was the proof Walking Liberty half, I wanted one that had at least a little frost on the devices, knowing a real cameo was way out of my league. He looked at something like 100+ examples before telling me he had one for me.
Why mention the 100 examples? Because if I just said a coin and grade and he didn't know me, on example 1 he'd ring me up, say he has it, and that would be what I get. But because of an existing relationship, he was able to throw away a lot of coins that weren't the right fit. That was one, but not the only, example where that happened. Of course, building a relationship takes time. The more esoteric a coin, the harder this might be to pull off because the less likely a dealer will want it in inventory if you decide it's not the right coin.
Also, don't forget that this is where knowing the right dealer comes in. If you want an 1881-S Morgan in 65, ask any local dealer. If you want an 8 Escudo, ask a specialist to help. While I have a go-to dealer for many of the coins I collect, if I wanted, say, a specific colonial, I would likely go elsewhere because there are other dealers I know who focus much more in that area--they're more likely to have the coin or contacts to get one, and if they do pick up a coin and give me first shot (rather than asking me before they buy it) they're in a better position to have it in their inventory.
I would advise in that case you seek a specialist in that material / price range.
As far as deposit not a fan of that considering the unpredictable times. Covid is an unseen killer / maimer that has killed more Americans than WW2 and not far from the 700k killed by HIV in very very much less time. As far as when it will surpass HIV not a matter of if in my view but when.
Many in cc default, bankruptcy which is going to snowball in coming months. Others like those of the oil price crash their careers like a radioactive ruin that they may never recover from or only partially rebuild. Oh and don’t forget about age bias as you compete against much younger applicants in a bombed out job market.
And then what is the future of the USA coin market - Optimism? I found the positive side of the 89 crash was I could buy stuff that before could not afford. So all not necessarily lost in that scenario.
@Cougar1978 said:
I would advise in that case you seek a specialist in that material / price range.
As far as deposit not a fan of that considering the unpredictable times. Covid is an unseen killer / maimer that has killed more Americans than WW2 and not far from the 700k killed by HIV in very very much less time. Not a matter of if in my view but when.
For example (just an example please no comments on the specifics!) let’s say I’m looking for a 1795 Flowing Hair Dollar in VF20 condition for under $3000.
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Have you tried BS&T?
Post something like this: WTB 1795 Flowing Hair Dollar in VF20 condition. PM me.
If they do, You then can tell them what you are willing to spend or you could also add in your original post "for under 3k".
Many great dealers on here.
I'd like to think that most dealers would accept a want list. I'm not sure how other dealers handle them, but if I come across a coin that I know someone is looking for, if it's a nice coin at a fair price, I'll simply buy it. I'll give the person who was looking for one first shot at it. If they pass, that's totally fine. I now have a coin that I'm happy to add to my inventory.
If it's not a coin I would stock (price too high, too esoteric, quality, etc.), I will still let you know about it. I'll give you the full details of the coin and the price to me. The decision is then up to you if you want me to buy it for you.
Edited to add: If it's a high value coin and/or if I don't have an established business relationship with the customer, then I'll just take it on memo from the person who owns it. If the customer backs out, no real loss other than shipping fees and a little time wasted.
Comments
Good idea! I’ll do that.
It can't hurt to ask, but the less a dealer knows you, the less successful the endeavor is going to be. A lot of my thoughts have been said already, so I'll just give an example of how I've been successful at this. I was looking for a coin and contacted a dealer with whom I've been working for a long time. I know him well, and he knows me and my collecting well. Now, I didn't say "hey I'm looking for this coin in that grade," rather I listed that, but then also specified the specific attributes I cared most about. When it was the proof Walking Liberty half, I wanted one that had at least a little frost on the devices, knowing a real cameo was way out of my league. He looked at something like 100+ examples before telling me he had one for me.
Why mention the 100 examples? Because if I just said a coin and grade and he didn't know me, on example 1 he'd ring me up, say he has it, and that would be what I get. But because of an existing relationship, he was able to throw away a lot of coins that weren't the right fit. That was one, but not the only, example where that happened. Of course, building a relationship takes time. The more esoteric a coin, the harder this might be to pull off because the less likely a dealer will want it in inventory if you decide it's not the right coin.
Also, don't forget that this is where knowing the right dealer comes in. If you want an 1881-S Morgan in 65, ask any local dealer. If you want an 8 Escudo, ask a specialist to help. While I have a go-to dealer for many of the coins I collect, if I wanted, say, a specific colonial, I would likely go elsewhere because there are other dealers I know who focus much more in that area--they're more likely to have the coin or contacts to get one, and if they do pick up a coin and give me first shot (rather than asking me before they buy it) they're in a better position to have it in their inventory.
Airplanenut gives some good advice here.
As to where to find the right dealer for the coin you want, ask for recommendations.
An authorized PCGS dealer, and a contributor to the Red Book.
I would make sure he realizes you collect coins and not labels so if he finds one you may not buy it
I would advise in that case you seek a specialist in that material / price range.
As far as deposit not a fan of that considering the unpredictable times. Covid is an unseen killer / maimer that has killed more Americans than WW2 and not far from the 700k killed by HIV in very very much less time. As far as when it will surpass HIV not a matter of if in my view but when.
Many in cc default, bankruptcy which is going to snowball in coming months. Others like those of the oil price crash their careers like a radioactive ruin that they may never recover from or only partially rebuild. Oh and don’t forget about age bias as you compete against much younger applicants in a bombed out job market.
And then what is the future of the USA coin market - Optimism? I found the positive side of the 89 crash was I could buy stuff that before could not afford. So all not necessarily lost in that scenario.
Lets keep this coin related please. Thanks
>
Have you tried BS&T?
Post something like this: WTB 1795 Flowing Hair Dollar in VF20 condition. PM me.
If they do, You then can tell them what you are willing to spend or you could also add in your original post "for under 3k".
Many great dealers on here.
Kennedys are my quest...
I gave him my honest opinion on deposits for big ticket coins that is VERY coin related lol.
I'd like to think that most dealers would accept a want list. I'm not sure how other dealers handle them, but if I come across a coin that I know someone is looking for, if it's a nice coin at a fair price, I'll simply buy it. I'll give the person who was looking for one first shot at it. If they pass, that's totally fine. I now have a coin that I'm happy to add to my inventory.
If it's not a coin I would stock (price too high, too esoteric, quality, etc.), I will still let you know about it. I'll give you the full details of the coin and the price to me. The decision is then up to you if you want me to buy it for you.
Edited to add: If it's a high value coin and/or if I don't have an established business relationship with the customer, then I'll just take it on memo from the person who owns it. If the customer backs out, no real loss other than shipping fees and a little time wasted.