Cherry Pickers Guide - dealer reactions

claychaser · September 24, 2006 1:29AM

Has anyone sate down to look over a dealer's inventory at a show or coin store with the Cherry Pickers Guide in hand?

Is this a faux pas?

Will dealers automatically increase quoted prices, or tell the customer to get lost?

Dealer and collector perspectives please!

ar18 · September 24, 2006 1:32AM

I do it, but most dealers I do it with know I collect varieties and they could care less because I buy other stuff too. I did it at a coin show a few weeks ago, got a few dirty looks, one dealer said" I hope you find something good" so I bought a few national notes from him anyways because he was so nice and I needed the notes, I could have gotten a little cheaper from another dealer.

Cameonut · September 24, 2006 1:53AM

I prefer to Cherrypick when the dealers don't know I am doing it. So having the book out for reference blows my cover.

Normally they think I am looking for cameos or some of the other series I collect. Sure, I am looking at the pieces that fit my specialties, but I am also actively cherrypicking.

Just a couple of weeks ago I was at a show speaking with a dealer about the new CPG when he declared that he doesn't have the time to check his inventory for varieties. Made sense to me as I had picked out a 1952 proof set with a Superbird quarter in it from his case. Bought the set for $10 less than bid.

tincup · September 24, 2006 2:31AM

Why tip off your hand??

You can certainly keep the Cherrypickers guide right up there on the table top if you wish. But I suspect a good number of dealers will have their guard up if you do so.... expect higher quoted prices. And some dealers may just plain be offended.

Nothing wrong with cherrypicking.... but I think it would be better to keep the guide out of sight... and refer to it when you need to later.

seateddime · September 24, 2006 2:39AM

prices are way of on seated dimes.

anyone who wants to sell closed bud 41-o's at those prices please call me first

dwssws · September 24, 2006 2:44AM

will let you know if I ever receive my copy

lkrarecoins · September 24, 2006 3:09AM

you shouldn't look like to much of a tourist when you are at a show....memorize a series or two and then look for only those coins....and as you get better, expand your horizons....baby steps

cladking · September 24, 2006 4:15AM

<< <i>you shouldn't look like to much of a tourist when you are at a show....memorize a series or two and then look for only those coins....and as you get better, expand your horizons....baby steps

>>

It's OK to look like a tourist but you're going to pay tourist prices. This will mean
at least 50% more and it can be much greater.

It's best to come off as anything than a browser. Even newbies get lower prices.

claychaser · September 24, 2006 4:23AM

"If you don't want to be cherrypicked, then look at your coins!"

"More power to you if you can "cherrypick". But you should also service your dealer and let them make some money on other stuff. You don't want to be known for only "cherrypicking". Even in the best relationships if you do that, prices will go up. "

Spoken from a true coin dealer, not some wannabe! But, the only coins I have bought from Legend so far are a few coins out of their junk box when they ran the e-bay auctions. I'll need to shop their coins for the coins I want for my typeset at Legend - and maybe I'll get Lucky on a pick too! Now I just have to come up with Legendary $$$$$!

-------------------------
Laura Sperber
lsperber1@hotmail.com
JUST SAY NO TO WANNABES! They lurk and prey on unwitting collectors in chatrooms!

Edited: Sunday September 24, 2006 at 9:55 AM by Legend

Type2 · September 24, 2006 5:33AM

I think they should not get mad. That's why your there to buy nice coins and varieties. Maybe you need one of them hard to find coins that you did not know about. If anything they should help you get what you need, that's what a dealer does for a living. He should help his new customers and be happy that he made a sale; and if he does not like it he should have sat down with the guide and did it for him salfe and mark all his coins with varieties, that what i think. Or, you can mamorize the book so you don't hurt his feelings, but good luck doing that. The book is 449 pages.

RichieURich · September 24, 2006 5:35AM

Now that I'm a dealer, I have to buy more coins than when I was a collector, so I have coins to sell. I find I buy fewer variety coins than when I ws a collector, although I do sell variety coins. I've also found that of the varieties in my collection and my inventory, probably 10% are cherrypicks and 90% were varieties that were identified before I bought them. I bought several varieties at ANA and all were previously identified.

Russ · September 24, 2006 6:48AM

<< <i>you should also service your dealer >>

Definite sigline material.

Russ, NCNE

Cameonut · September 24, 2006 8:04AM

<< <i>

<< <i>you should also service your dealer >>

Definite sigline material.

Russ, NCNE >>

I agree.
Where I come from, 'service is what you get on a stud farm.'

CaptHenway · September 24, 2006 2:11PM

Read Appendix D for some tips on cherrypicking ettiquette.
TD

rdunnit · September 24, 2006 4:05PM

I usually make a list on paper with the series of coins, dates, mintmarks, variety (ie. RPM,DDO,etc) and PUPs (pick up points). That way it looks like you have a want list. Most of the varieties that I look for I have memorized so that I don't need a list.

Robert

Coxe · September 24, 2006 4:47PM

First, cherrypicking is adding value. The one who takes the time to learn and study and investigate coins to the extent that they can identify a jewel among the rocks is the one who deserves the premium. A rare or desirable variety is there for that eventuality. It will nominally increase in value as a common and also as the variety. Those holding it over those times deserve those appreciations. The one who elevates it form common deserves the spike up as well. No seller's sour grapes trouble me in the least in that pursuit.

Second, my rule of basic etiquette is to never pull your books out when you are cherrypicking a dealer's case. It clutters up the area obscuring his case and makes you look amateurish. It's "Oh great another guy just got the book" deal to them and others around the table. As I wrote in a white paper recently, your backpack or briefcase should be off limits when you sit down and ask for coins. It makes a lot of dealers nervous (about the security of his/her coins) and is distracting. If you must have something, make it a cribsheet and a greysheet for quick reference when your brain goes to lunch early. Otherwise, a good cherrypicker comes prepared with what he needs to know in his head. A great cherrypicker knows obverse pickup points (aka PUPs) for the desirable varieties and can thus narrow down his requests to inspect significantly.

pf70collector · September 24, 2006 7:34PM

I would think the guide would be a tip off to the dealer. He will definitely look closer at the coin you are trying to buy and adjust his price accordingly. In fact you are probably doing him a service with the guide in the open, cherrypicking his inventory.

Connecticoin · September 24, 2006 9:45PM

Your chances of success are greatly diminished when you openly "tip your hand" like that. The so-called "wannabe dealers" are usually the best ones to pick off, but they also are the type who are insecure about it. Memorize what you are looking for or keep a list of notes close to the vest. I'm sure most of the VAMers have the Top 100 and Hot 50 committed to memory.

Julian · September 24, 2006 11:53PM

The CP guides are, IMHO, for study prior to visiting a coin show.

A dealer really cannot tie up valuable counter space with someone trying to search for varieties.

The bottom line is study in advance, but do not expect to be warmly accepted by dealers who have other customers that wish to examine their coins.

On the other hand, if the show is quiet or you are visiting a dealer in his store, there may be greater room for using a book. You may wish to give the dealer a bonus if you find something particularly valuable.

Cherry Pickers Guide - dealer reactions

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