Have you ever bought back a coin for less than you sold it?

Shamika · October 12, 2006 12:53AM

A variation of the term "rip".

segoja · October 12, 2006 1:11AM

Yep!

I don't think buying a coin back for 10% less than you sold it for is a rip, in fact I'd say it's rather generous.

Now 50% less with no market change, that's a rip.

123cents · October 12, 2006 1:14AM

I sold a bust half for $150.00 and later bought it back for $130.00.

LALASD4 · October 12, 2006 1:20AM

yes.

poorguy · October 12, 2006 1:21AM

Yes, I've also bought coins back at less than I've sold them. Some people just change their minds down the road or want to raise some cash quick. I would say that on average, I've paid around 85% of what I sold it to them for. I even bought a coin back from a guy who cracked it out, sent it to a grading service, and it came back bodybagged. I took it in at a full 100% of what he paid and applied that to a new purchase. It's not worth losing a customer over a few hundred bucks. I have encountered coins at shows that we've sold in the past that were offered to us less than what we originally sold them for. Thankfully, it doesn't happen very often.

seemyauction · October 12, 2006 1:22AM

I assume you are refering to coins other than bullion coins....

No I have not.....unless it was a long time between transactions it does not seem like a smart business move....

Lakesammman · October 12, 2006 1:26AM

yes.

PerryHall · October 12, 2006 3:41AM

It's called a restocking fee. Sounds better than calling it a rip, doesn't it?

Shamika · October 12, 2006 7:22AM

<< <i>It's called a restocking fee. >>

Okay, you got me.

Have you ever bought back a coin for less than you sold it?

Comments

Leave a Comment