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What Qualities Make a Good Coin Dealer?

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  • 4Redisin4Redisin Posts: 566 ✭✭✭

    @jmlanzaf said:

    @4Redisin said:

    @Cougar1978 said:

    @ProofCollection said:
    Patience. They have to deal with the GDP. Generally Dumb Public all day long trying to sell them pocket change.

    Yes patience (don’t let them bug you), maintaining game face a must.

    Lowballers - I may ask them if they have one sell me at that and at times procured some good pickups. One guy said “your competition over there has one for less” trying haggle me down on a nice slabbed SLQ. I rejected his low ball offer, went over to that dealers table and looked at that coin - it was an obvious inferior piece vs mine.

    For the GDP I have cheap junk box raw material mostly raw collector coins in 2x2. Sales of that help pay show expenses.

    I applaud your effort to provide coins for everyone at your table. In fact, most of my greatest "cherrypicks" came from the junk boxes of GDD although it's getting harder to do these days. In January I scored one of the common 1788 Machin's Mills Copper with a planchet flaw (VG+ to F) in the dollar box. I cannot wait to see what's next.

    Apparently disdain for the customers is one of his angles...

    I don't know him, but I agree with him that THE PUBLIC in general (not numismatists or many CRH) can be classified as extremely dumb when it comes to coins. That does not mean we should have distain for them although I imagine it can be very annoying when John Q walks into your shop with a circulated "rare" 1940 Lincoln cent to sell because he saw one listed for 2K on Ebay!

  • OnBendedKneeOnBendedKnee Posts: 306 ✭✭✭

    As a Dealer, don't cut your own fingers handling the knife by the sharp end just so you can beat your customer with the handle.

  • jmlanzafjmlanzaf Posts: 35,967 ✭✭✭✭✭

    @4Redisin said:

    @jmlanzaf said:

    @4Redisin said:

    @Cougar1978 said:

    @ProofCollection said:
    Patience. They have to deal with the GDP. Generally Dumb Public all day long trying to sell them pocket change.

    Yes patience (don’t let them bug you), maintaining game face a must.

    Lowballers - I may ask them if they have one sell me at that and at times procured some good pickups. One guy said “your competition over there has one for less” trying haggle me down on a nice slabbed SLQ. I rejected his low ball offer, went over to that dealers table and looked at that coin - it was an obvious inferior piece vs mine.

    For the GDP I have cheap junk box raw material mostly raw collector coins in 2x2. Sales of that help pay show expenses.

    I applaud your effort to provide coins for everyone at your table. In fact, most of my greatest "cherrypicks" came from the junk boxes of GDD although it's getting harder to do these days. In January I scored one of the common 1788 Machin's Mills Copper with a planchet flaw (VG+ to F) in the dollar box. I cannot wait to see what's next.

    Apparently disdain for the customers is one of his angles...

    I don't know him, but I agree with him that THE PUBLIC in general (not numismatists or many CRH) can be classified as extremely dumb when it comes to coins. That does not mean we should have distain for them although I imagine it can be very annoying when John Q walks into your shop with a circulated "rare" 1940 Lincoln cent to sell because he saw one listed for 2K on Ebay!

    Everyone is ignorant about most things outside their area of specialty. Dealing with the public requires patience. I spent 2 hours with a guy with a stamp collection on Saturday trying to explain the reality of what he had even though I really didn't want to buy it. I ended up buying some of it but begged him to shop it around because he was still "skeptical".

    I also recently spent about a dozen hours over THREE YEARS with a guy helping him organize a large stamp estate. I was unpaid and only promised the opportunity to be one of three offers. In the end, I ended up being the only offer and bought the whole storage unit, but it could have turned out differently.

    LCS owners answer multiple phone calls every week from people who saw click bait, have that coin app that tells you every coin could be worth $10k, or simply found something unusual to them. (This past weekend, I was in my friend's shop and two different people came in asking about the gold value of their President dollars. )

    But if you look at his prior posts with the "looky Lous" and the "tire kickers", his disdain extends beyond simply the ignorance of non-collectors.

  • CatbertCatbert Posts: 7,551 ✭✭✭✭✭

    I think he sees customers as marks - a target for exploitation due to their gullibility, wealth, or naivety. He likes to brag about this approach via football analogies, no matter how inane.

    Seated Half Society member #38
    "Got a flaming heart, can't get my fill"
  • ARCOARCO Posts: 4,429 ✭✭✭✭✭

    @FlyingAl said:
    I've had many interactions with a lot of different dealers, all of which have their own different qualities.

    So to you - what qualities do you look for in a good coin dealer?

    1) Does the dealer have coins with the eye appeal I like? Does the dealer price these coins fairly according to my standards?

    That is about it.

  • ElmerFusterpuckElmerFusterpuck Posts: 4,780 ✭✭✭✭✭

    @Cougar1978 said:

    1. Leave some room for price haggling. Remember - They will try to talk you down with their BS.

    The last part of this post makes it very easy to press the skip button and avoid your table altogether. Guess you skipped the line that offered people skills. Probably couldn't haggle it down.

  • Cougar1978Cougar1978 Posts: 8,739 ✭✭✭✭✭
    edited May 28, 2025 9:07PM

    @ElmerFusterpuck said:

    @Cougar1978 said:

    1. Leave some room for price haggling. Remember - They will try to talk you down with their BS.

    The last part of this post makes it very easy to press the skip button and avoid your table altogether. Guess you skipped the line that offered people skills. Probably couldn't haggle it down.

    No problem when their BS starts its time for them to leave. Goodbye.

    Coins & Currency
  • PeakRaritiesPeakRarities Posts: 4,467 ✭✭✭✭✭
    edited May 26, 2025 7:52AM

    @jmlanzaf said:

    LCS owners answer multiple phone calls every week from people who saw click bait, have that coin app that tells you every coin could be worth $10k, or simply found something unusual to them. (This past weekend, I was in my friend's shop and two different people came in asking about the gold value of their President dollars. )

    Week? Try half a dozen calls every day. This is why I advocate against when members here enable "new collectors" actively trying to sell their change on eBay for $1400. It's damaging to the hobby, and it's also why I resent Ebay (which you typically take the opposite position). If they would only charge some type of listing fee, there wouldn't be a tsunami of parking lot "errors" that show up first on a google search.

    Founder- Peak Rarities
    Website
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  • 4Redisin4Redisin Posts: 566 ✭✭✭

    @jmlanzaf said:

    @4Redisin said:

    @jmlanzaf said:

    @4Redisin said:

    @Cougar1978 said:

    @ProofCollection said:
    Patience. They have to deal with the GDP. Generally Dumb Public all day long trying to sell them pocket change.

    Yes patience (don’t let them bug you), maintaining game face a must.

    Lowballers - I may ask them if they have one sell me at that and at times procured some good pickups. One guy said “your competition over there has one for less” trying haggle me down on a nice slabbed SLQ. I rejected his low ball offer, went over to that dealers table and looked at that coin - it was an obvious inferior piece vs mine.

    For the GDP I have cheap junk box raw material mostly raw collector coins in 2x2. Sales of that help pay show expenses.

    I applaud your effort to provide coins for everyone at your table. In fact, most of my greatest "cherrypicks" came from the junk boxes of GDD although it's getting harder to do these days. In January I scored one of the common 1788 Machin's Mills Copper with a planchet flaw (VG+ to F) in the dollar box. I cannot wait to see what's next.

    Apparently disdain for the customers is one of his angles...

    I don't know him, but I agree with him that THE PUBLIC in general (not numismatists or many CRH) can be classified as extremely dumb when it comes to coins. That does not mean we should have distain for them although I imagine it can be very annoying when John Q walks into your shop with a circulated "rare" 1940 Lincoln cent to sell because he saw one listed for 2K on Ebay!

    Everyone is ignorant about most things outside their area of specialty. Dealing with the public requires patience. I spent 2 hours with a guy with a stamp collection on Saturday trying to explain the reality of what he had even though I really didn't want to buy it. I ended up buying some of it but begged him to shop it around because he was still "skeptical".

    I also recently spent about a dozen hours over THREE YEARS with a guy helping him organize a large stamp estate. I was unpaid and only promised the opportunity to be one of three offers. In the end, I ended up being the only offer and bought the whole storage unit, but it could have turned out differently.

    LCS owners answer multiple phone calls every week from people who saw click bait, have that coin app that tells you every coin could be worth $10k, or simply found something unusual to them. (This past weekend, I was in my friend's shop and two different people came in asking about the gold value of their President dollars. )

    But if you look at his prior posts with the "looky Lous" and the "tire kickers", his disdain extends beyond simply the ignorance of non-collectors.

    Sounds like you are a very special dealer.

  • ad4400ad4400 Posts: 2,151 ✭✭✭✭✭

    Someone willing to learn your collecting tastes/goals, etc, and have the honesty and integrity to say “I don’t think this one is for you’ or in the alternative, make every effort to make something available to you if in your tastes/goals, etc

  • ElcontadorElcontador Posts: 7,666 ✭✭✭✭✭

    It's pretty simple. The qualities that make a good dealer are the same qualities that anyone in any business should try to achieve.

    Many mentioned them above, but I'm looking at someone who knows his / her material, and is honest with clients / customers. Also someone who treats people respectfully. Respect is a two way street. And that includes timely returning phone calls / e-mails.

    "Vou invadir o Nordeste,
    "Seu cabra da peste,
    "Sou Mangueira......."
  • braddickbraddick Posts: 24,689 ✭✭✭✭✭

    @braddick said:
    Be like TwinPeaks or MFeld.

    @Cougar1978
    Why the LOL?
    What do you know about this topic that all the others here don't?

    peacockcoins

  • OnBendedKneeOnBendedKnee Posts: 306 ✭✭✭

    @Cougar1978 said:

    @ElmerFusterpuck said:

    @Cougar1978 said:

    1. Leave some room for price haggling. Remember - They will try to talk you down with their BS.

    The last part of this post makes it very easy to press the skip button and avoid your table altogether. Guess you skipped the line that offered people skills. Probably couldn't haggle it down.

    People Skills? If they take a cheap shot at me or try rip me what does it matter lol? Frankly when their BS starts it’s time for them to leave.

    The same boiling water that softens the potato will harden the egg.

  • DisneyFanDisneyFan Posts: 2,433 ✭✭✭✭✭

    @4Redisin said:

    @jmlanzaf said: Dealing with the public requires patience.

    Sounds like you are a very special dealer.

    He is having a lot of fun with his two ebay stores,
    Inexpensive Trifles &
    weareeverythingvaluable

  • jmlanzafjmlanzaf Posts: 35,967 ✭✭✭✭✭

    @4Redisin said:

    @jmlanzaf said:

    @4Redisin said:

    @jmlanzaf said:

    @4Redisin said:

    @Cougar1978 said:

    @ProofCollection said:
    Patience. They have to deal with the GDP. Generally Dumb Public all day long trying to sell them pocket change.

    Yes patience (don’t let them bug you), maintaining game face a must.

    Lowballers - I may ask them if they have one sell me at that and at times procured some good pickups. One guy said “your competition over there has one for less” trying haggle me down on a nice slabbed SLQ. I rejected his low ball offer, went over to that dealers table and looked at that coin - it was an obvious inferior piece vs mine.

    For the GDP I have cheap junk box raw material mostly raw collector coins in 2x2. Sales of that help pay show expenses.

    I applaud your effort to provide coins for everyone at your table. In fact, most of my greatest "cherrypicks" came from the junk boxes of GDD although it's getting harder to do these days. In January I scored one of the common 1788 Machin's Mills Copper with a planchet flaw (VG+ to F) in the dollar box. I cannot wait to see what's next.

    Apparently disdain for the customers is one of his angles...

    I don't know him, but I agree with him that THE PUBLIC in general (not numismatists or many CRH) can be classified as extremely dumb when it comes to coins. That does not mean we should have distain for them although I imagine it can be very annoying when John Q walks into your shop with a circulated "rare" 1940 Lincoln cent to sell because he saw one listed for 2K on Ebay!

    Everyone is ignorant about most things outside their area of specialty. Dealing with the public requires patience. I spent 2 hours with a guy with a stamp collection on Saturday trying to explain the reality of what he had even though I really didn't want to buy it. I ended up buying some of it but begged him to shop it around because he was still "skeptical".

    I also recently spent about a dozen hours over THREE YEARS with a guy helping him organize a large stamp estate. I was unpaid and only promised the opportunity to be one of three offers. In the end, I ended up being the only offer and bought the whole storage unit, but it could have turned out differently.

    LCS owners answer multiple phone calls every week from people who saw click bait, have that coin app that tells you every coin could be worth $10k, or simply found something unusual to them. (This past weekend, I was in my friend's shop and two different people came in asking about the gold value of their President dollars. )

    But if you look at his prior posts with the "looky Lous" and the "tire kickers", his disdain extends beyond simply the ignorance of non-collectors.

    Sounds like you are a very special dealer.

    I think most dealers have similar stories.

  • Cougar1978Cougar1978 Posts: 8,739 ✭✭✭✭✭

    @Catbert said:
    I think he sees customers as marks - a target for exploitation due to their gullibility, wealth, or naivety. He likes to brag about this approach via football analogies, no matter how inane.

    Off topic.

    Coins & Currency
  • Cougar1978Cougar1978 Posts: 8,739 ✭✭✭✭✭

    @Morgan White said:
    Don't get emotional. It's just business.

    Absolutely - it’s one of the last bastions of free enterprise. One can’t let them bug you. Have fun, work your angle, make money.

    Coins & Currency
  • lermishlermish Posts: 3,667 ✭✭✭✭✭

    @Cougar1978 said:

    @Catbert said:
    I think he sees customers as marks - a target for exploitation due to their gullibility, wealth, or naivety. He likes to brag about this approach via football analogies, no matter how inane.

    Off topic.

    I bet @MFeld is tossing and turning in his sleep at having to deal with the indignity of living in a world where YOU can unironically call somebody else's post off topic. You are the absolute Holy Roman Emperor of off topic posts.

    Also...I don't see you disputing the accuracy of Carbert's post...

    Screenshot to save this priceless gem for posterity:

    chopmarkedtradedollars.com

  • Cougar1978Cougar1978 Posts: 8,739 ✭✭✭✭✭
    edited May 28, 2025 9:58PM

    I don’t let the boo birds here bug me. What shows have u setup up at btw?

    Coins & Currency
  • Morgan WhiteMorgan White Posts: 8,237 ✭✭✭✭✭

    @lermish said:

    @Cougar1978 said:

    @Catbert said:
    I think he sees customers as marks - a target for exploitation due to their gullibility, wealth, or naivety. He likes to brag about this approach via football analogies, no matter how inane.

    Off topic.

    I bet @MFeld is tossing and turning in his sleep at having to deal with the indignity of living in a world where YOU can unironically call somebody else's post off topic. You are the absolute Holy Roman Emperor of off topic posts.

  • lermishlermish Posts: 3,667 ✭✭✭✭✭

    @Cougar1978 said:
    I don’t let the boo birds here bug me. What shows have u setup up at btw?

    I've told you a dozen times that I'm not a dealer. Why are you incapable of understanding that most people here are NOT dealers and you randomly giving (bad) unsolicited dealer advice to collectors is absurd?

    chopmarkedtradedollars.com

  • Cougar1978Cougar1978 Posts: 8,739 ✭✭✭✭✭
    edited June 27, 2025 7:53AM

    Go find a hobby lol.

    Coins & Currency
  • A dealer that takes the time to listen and to make corrections with respect and decency. Teaching moments are always great! Even the most seasoned collectors need to be schooled

  • OnBendedKneeOnBendedKnee Posts: 306 ✭✭✭

    @Cougar1978 said:
    Thank you for your input, have a good night.

    Only took three edits to come up with this final declaration.

    :#

  • PeakRaritiesPeakRarities Posts: 4,467 ✭✭✭✭✭

    Dim lights, enter Judy Garland

    🎶 Somewhere over the rainbow, way up high,
    Threads stay sane with some coin talk, off-topic rants roll eyes.
    Somewhere over the rainbow, boo birds sigh,
    “Mark it up, cost plus on the bourse” claims clog up the thread’s replies.... 🎶

    Founder- Peak Rarities
    Website
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  • Morgan13Morgan13 Posts: 1,596 ✭✭✭✭✭

    I have a few dealers who's websites I scour to find coins I like.
    When I ask hard questions like is that a scratch or will it cross so on and so on honest answers will win a customer every time.

    Student of numismatics and collector of Morgan dollars
    Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
    Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7

  • WCCWCC Posts: 2,858 ✭✭✭✭✭

    @Catbert said:
    I think he sees customers as marks - a target for exploitation due to their gullibility, wealth, or naivety. He likes to brag about this approach via football analogies, no matter how inane.

    This is a lot more prevalent with non-US coinage in my experience. Price discovery is a lot more limited and it's not unusual to see ask prices really inflated versus any realistic market value, meaning the buyer isn't hopelessly buried in the coin the minute they buy it. I see some legitimate room for a difference of opinion on "market price", but not in the ask prices I'm referencing. It's also more prevalent on eBay, but I've seen or heard it elsewhere too.

  • pursuitoflibertypursuitofliberty Posts: 7,234 ✭✭✭✭✭

    Some good comments, and some where people show their colors.

    Probably in order;

    Honest
    Straight-forward
    Personable
    Knowledgeable
    Integrity
    Communicates well

    Business is about building relationships. Whether that be coins or cars or commercial contracting (my business for years). It's not always about the almighty dollar or the final penny of profit (although I am keenly aware of the fact that businesses are run "for-profit" or they won't be in business for long).

    If you are honest and straight-forward, and personable enough where I can like dealing (or even be friends) with you, and then have knowledge to back up your business operation and show integrity in how you deal with ALL of your customers, AND you communicate well ... I either already am, or want to be a customer of yours.

    I'll buy the right coin at the right price from almost anyone, but that doesn't make me feel like I WANT to do business with them.


    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
  • pruebaspruebas Posts: 4,625 ✭✭✭✭✭

    @lermish said:

    @Cougar1978 said:
    I don’t let the boo birds here bug me. What shows have u setup up at btw?

    I've told you a dozen times that I'm not a dealer. Why are you incapable of understanding that most people here are NOT dealers and you randomly giving (bad) unsolicited dealer advice to collectors is absurd?

    There is a TON of bad advise given on this forum. Why single out one poster?

    @OnBendedKnee said:

    @Cougar1978 said:
    Thank you for your input, have a good night.

    Only took three edits to come up with this final declaration.

    :#

    Your entire MO seems to bash Cougar. In multiple threads. Over and over.

    Don’t you have any numismatic commentary to offer?

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