Okay dealers, what's the big F'n deal???

NoGvmnt · August 9, 2004 12:06PM

I went to a show this past Sunday. I was looking to unload a quantity of Peace and Morgan Dollars. I went up to a dealer that I know (dealer 1) well and asked if he had any interest but he was not in the market for these particular coins.

I then asked him if he knew which dealer attending the show paid the strongest prices for common Peace and Morgan Dollars. He then handed me a Dealer to Dealer buying sheet which was distributed by a certain dealer (dealer 2). He then pointed this dealer out to me and I presented the coins to the dealer 2. When the dealer 2 saw that I had a copy of his buying price sheet he asked me if I was a dealer and to that I responded "No".

Dealer 2 asked where I got the copy of his buying price sheet and I told him I got it from dealer 1, at that, dealer 2 became very aggravated and stated (in no uncertain terms) that dealer 1 should never have let me see the buying price sheet,

So, what the heel is the big deal? Was dealer 2 pizzed that he wasn't able to lowball me on the buying price of my wares? What, if his fellow members of the dealer fraternity didn't lowball me and then sell to him at his buying price then he is pizzed because he didn't get the chance to lowball me?

Or, is he pizzed that a member of the public now knows that $4.00/coin IS NOT the going rate for XF to BU Peace and Morgan dollars?

Jim

MrEureka · August 9, 2004 12:15PM

So, what the heel is the big deal?

Don't know. Maybe you should ask dealer 2 and report back to us?

RYK · August 9, 2004 12:18PM

I guess next time you need to learn the secret handshake first.

KollectorKing · August 9, 2004 12:27PM

"Well, I see coinguy1's thread didn't have much of an effect."

ScarsdaleCoin · August 9, 2004 12:31PM

he is just upset that the secret disappearing ink did not work...you see if a non dealer gets a copy of our secret buying price sheet, the ink is our last self defense that you dont see the incredible prices.....

BigD5 · August 9, 2004 12:33PM

Maybe, and this is a way out there maybe.

When he prints out his "buy" list for the show, he expects the dealers to have the coins inventoried/tallied, counted and seperated (pre-21, 21 and Peace) in baggies etc.

That would be my only guess other than he doesn't have as strong a buy price for the general public then he does for dealers.

How much did you get for the Morgans and Peace dollars?

kryptonitecomics · August 9, 2004 12:37PM

$4 bucks for common Morgans and Peace Dollars in EF or better is a total rippoff. That's like melt value and in most cases you are going to be able to get at least $8 to $10 bucks a piece

catfish172 · August 9, 2004 12:51PM

Dealer 2 asked where I got the copy of his buying price sheet and I told him I got it from dealer 1, at that, dealer 2 became very aggravated and stated (in no uncertain terms) that dealer 1 should never have let me see the buying price sheet,

I'm not sure he was upset at dealer1 for giving you his price sheet or he was upset because you ratted out Dealer1. Either way he may not give dealer1 his buy guide at future shows. Were you able to explain that you were a "good" customer of dealer1 and dealer1 gave you that sheet as a "token" of his appreciation for your business and to possibly share some of that good business with dealer2?

Sequitur · August 9, 2004 12:58PM

I'm not sure he was upset at dealer1 for giving you his price sheet or he was upset because you ratted out Dealer1.

There is no uncertainty because Nogvmnt took care to write, "dealer 2 became very aggravated and stated (in no uncertain terms) that dealer 1 should never have let me see the buying price sheet".

Plainly, it was this so-called "inside information" that had dealer 2 fuming -- and yes, fuming because he couldn't lowball you.

mrearlygold · August 9, 2004 1:14PM

You didn't use the secret password phrase ( question and answer).

So I'll give it to you so you can use it the nest time.

Toi la mot ke ngu dan dot nat. Anh vui long bao ve va benh vuc toi duoc khong?

There, now you know.

Tom

K6AZ · August 9, 2004 1:23PM

Is that what this guy offered, $4? That is a ripoff. With silver at $6.68/oz, that makes the melt value of a 90% silver dollar $5.14.

ER · August 9, 2004 1:37PM

<< You didn't use the secret password phrase ( question and answer).

So I'll give it to you so you can use it the nest time.

Toi la mot ke ngu dan dot nat. Anh vui long bao ve va benh vuc toi duoc khong?

There, now you know.

Tom

>>

Tom,
That 's only the question. Here the answer:
Neu anh la mot nguoi dot nat thi anh phai coi chung thang kia, no diem lam. De toi giup do anh.

Translated: If you don 't know any better, you 'll have to watch out for the other guy, he 's a scammer. I 'll help you out.

mrearlygold · August 9, 2004 1:54PM

<< 

<< You didn't use the secret password phrase ( question and answer).

So I'll give it to you so you can use it the nest time.

Toi la mot ke ngu dan dot nat. Anh vui long bao ve va benh vuc toi duoc khong?

There, now you know.

Tom

>>

Tom,
That 's only the question. Here the answer:
Neu anh la mot nguoi dot nat thi anh phai coi chung thang kia, no diem lam. De toi giup do anh.

Translated: If you don 't know any better, you 'll have to watch out for the other guy, he 's a scammer. I 'll help you out.

>>

Well something like that anyway

Anh that la bat ngo Anh Er a!

Rgrds
Tuan, er Tom

doop · August 9, 2004 2:17PM

naw, it should have been go back to dealer #1, as a token of appreciation of your biz with #1 try to get him to carry the coins to #2. then either #2 gets it right,buys the deal off his buysheet (granted a few variable coins for probs,etc) or either he says he's "filled" which is always b/s in those cases. in that case you then go find the bourse chairmam and bring him up to speed with the situation,trying to get #1's best assistance.
if you get nowhere with any of that then find a sheet of paper and quickly write a straight to the point short brief,fly to the nearest copier you can find, print as many that will cover each table as fast as you can re-enter the show,start on isle #1 and zip em out on each table. round your last corner,exit stage left and find someone who will work on a 20% or so certain margin (on that type of item particularly) at a later date...
heh..

Myqqy · August 9, 2004 2:29PM

What did doop just say???

K6AZ · August 9, 2004 2:30PM

<< What did doop just say???

>>

Don't know, I'm still trying to translate it!

doop · August 9, 2004 2:31PM

give yourself a minute, think about it, you'll figure it out..

Bear · August 9, 2004 2:59PM

Nikto Klato Berrato

mrearlygold · August 9, 2004 3:05PM

<< Nikto Klato Berrato >>

Tom

techeff · August 9, 2004 3:07PM

click! click! clop! clop! click!!

100proof1957 · August 9, 2004 3:16PM

Thats either Vietnamese or Klingon !
in either case,offer your stuff to the dealer,you no liky,take a hiky !

doop · August 9, 2004 3:19PM

hell no ! hold the gun to the head of the dealer who put out the buysheet

granddad · August 9, 2004 4:33PM

Hmmmm, sounds like free enterprise to me.

tradedollarnut · August 9, 2004 8:40PM

Sweet twostep from dealer one! Instead of being blasted on the boards for not wanting to buy everything, he shuffled it off on dealer two and let him take the heat!

Steve27 · August 9, 2004 8:58PM

"When the dealer 2 saw that I had a copy of his buying price sheet he asked me if I was a dealer and to that I responded "No"."

You were selling coins, thus you should have said "yes."

WaterSport · August 9, 2004 9:02PM

This sort of transaction is what got Martha Stewart going to the pen....

WS

UncleJoe · August 9, 2004 10:11PM

The day the Earth Stood Still

It obviously was a dealer to dealer list. I don't know what the rules are for this but if I give you my information for your use I don't expect you to share it with anyone else without my permission.

Joe.

MadMarty · August 9, 2004 10:12PM

That's because you didn't do the doggie like dealer butt sniff!!!

MrEureka · August 9, 2004 10:37PM

Let me get this straight. It's OK for dealers to sell coins cheaper to other dealers than to collectors, but it's not OK for dealers to pay more when buying from other dealers?

RBinTex · August 9, 2004 10:45PM

If you're willing to buy specific coins at a specific price why would it matter from whom they came? Dealer 2 is the poster child of the typical example of the narrow-minded small-timer that is the opposite of what the hobby needs to reach its' full potential of becoming a totally open market where all participants are operating with the same information.

MrEureka · August 9, 2004 11:06PM

If you're willing to buy specific coins at a specific price why would it matter from whom they came?

1. Price discrimination increases profits.

2. Price information - like a dealer's new higher buy prices - spreads very quickly when you don't restrict it to trusted parties. Makes it difficult for a dealer to fill his needs, even at the higher price.

the hobby needs to reach its' full potential of becoming a totally open market where all participants are operating with the same information.

Why would the biggest players prefer to play in a "totally open market"? Better to do the big deals somewhere else so you don't move the market every time you announce that you're looking to buy or sell something.

EagleEye · August 10, 2004 1:42AM

NoGvmnt hasn't replied or filled in the details,. I think he was just throwing out the $4 per dollar in haste and anger. I think there is a lot left unsaid.

JrGMan2004 · August 10, 2004 1:49AM

You might have avoided it, by asking Dealer1 to sell them to Dealer2 for you. since the buy list was "Dealer-to-Dealer"

NoGvmnt · August 10, 2004 2:13AM

"NoGvmnt hasn't replied or filled in the details,. I think he was just throwing out the $4 per dollar in haste and anger. I think there is a lot left unsaid. "

Rick, what other "details" do you need? The $4.00 offer was accurate.

*******************************

"Sweet twostep from dealer one! Instead of being blasted on the boards for not wanting to buy everything, he shuffled it off on dealer two and let him take the heat!"

Bruce, dealer 1 did not "two-step" anything, dealre 1 did not have a "Buying" sign on his table (and for the record neither did dealer 2),

*******************************

"It obviously was a dealer to dealer list. I don't know what the rules are for this but if I give you my information for your use I don't expect you to share it with anyone else without my permission."

But Joe, you're not addressing the question, considering dealer 2 was obviously in the market for these particular coins, what is the big deal that dealer 1 steered this business to him, or was it just the fact that I had dealer 2's offer (to fellow dealers) in hand?

*******************************

"If you're willing to buy specific coins at a specific price why would it matter from whom they came?"

RBinTex, that is my point exactly.

"Dealer 2 is the poster child of the typical example of the narrow-minded small-timer that is the opposite of what the hobby needs to reach its' full potential of becoming a totally open market where all participants are operating with the same information. "

The problem is dealer 2 is actually a very big dealer in this area.

*******************************

Jim

Russ · August 10, 2004 2:25AM

<< That's because you didn't do the doggie like dealer butt sniff!!! >>

I think Marty nailed it.

Russ, NCNE

EagleEye · August 10, 2004 3:11AM

$4 per coin for Morgan $'s is indeed stealing! Anyone can call themselves a dealer and set up at show. It is a shame they don't all have honest ethics. However, you must always remember, "The buyer beware" at any coin show. A dealer can limit the people they choose to do business with.

About five or six years ago another dealer had a collection of Indian Cents. I called up to buy a bunch of them and they refused to sell them to me because I was a dealer! Apearently they were trying to build a client base in Indian Cents at the time by selling them cheap.

coinguy1 · August 10, 2004 3:24AM

<< About five or six years ago another dealer had a collection of Indian Cents. I called up to buy a bunch of them and they refused to sell them to me because I was a dealer! Apearently they were trying to build a client base in Indian Cents at the time by selling them cheap >>

Rick, I think I am familiar with that situation. If not, I remember one that was very similar. And, if it makes you feel any better, you weren't the only dealer who was refused.

EagleEye · August 10, 2004 5:44AM

Yes, I'm sure you'd remember. There are many times when dealer status does not help, but in the end we're all one big happy family. Collectors who build relationships with a few dealers should be rewarded for their loyalty.

Okay dealers, what's the big F'n deal???

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