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A Coin Story
elassoto
Posts: 114
I just wanted to share the story of what happened in the past few months. My mom was handing out some jewelry to us kids and our spouses that she didn't want anymore. With the jewelry was was was a $20 gold piece. I have always liked coins, and had a small collection, but never paid much attention to it. However, I remembered that when I was a kid, I had a book of coins and their values. In there, of course, the walking liberty gold piece was the most valuable. So when my turn came I jumped at the opportunity and took the gold piece. I thought it would be fun to research it and then sell it because I needed some money to buy a car. I noticed some strange things about it. It had MCMVII on it instead of 1907. Also it had E PLURIBUS UNUM on the edge. Anyway, I threw it in the suitcase with the rest of the jewelry and flew home.
When I got home I started researching it. First I went on Ebay and tried to identify it by punching in MCMVII. Nothing came up. Then I Yahoo'ed it. That way I got some hits. One of the best ones that came up was Coinfacts.com. However, the only coin that they made a reference to the edge lettering was the Ultra High Relief, which I noticed sold in the millions! That really got my attention. So then I thought, well I really need to be careful. The next morning I took some pictures of the coin and took it to the safe-deposit box.
On Monday, I called Sotheby's and asked them if they auctioned coins. They said no, but recommended Stack's. I called Stack's and they said they had a local office in Fort Lauderdale. So I called there and made an appointment for Wednesday. When I spoke to them they said it's probably not a ultra-high-relief since they are all accounted for and most likely a high-relief. Then I joined up on this collector's forum and on the Heritage website. I asked who are the best auction houses and if Stack's was any good. Everyone was helpful and seemed to think ANR was the best. I was a bit apprehensive about taking it to coin shops, because I was afraid of it getting stolen. I wanted to make sure I worked with the most reputable firms possible. I called ANR and talked to John Pack. He said said that he would be happy to send a catalog and a contract. In a few days the contract from ANR came with a catalog, and they were asking 5% commission. I'll get back to that. Then I called Heritage. They said that they sell high-reliefs all the time and would be happy to consign it. After looking through the auction sites, I started to get to know how grading works, about how much these coins are selling for, who sells the best and how the auctions work.
On Wednesday I met with Mr. S. from Stack's East Coast Sales. He looked over the coin and said it was a very nice high-relief flat edge. He estimated that it was about an MS61-MS62, but because it had copper spots it was a point lower since collectors don't like copper spots. Not really knowing too much about grading, I was happy that it rated Mint State right off the bat. Then he went on his computer and proceeded to show me how much MS60 high-reliefs have been selling for lately which was between $8000 and $12000. Then I met with Ms. D. while Mr. S. worked with another customer. Ms. D. said that being an MS60 Stack's may not want to put it in the auction, however they were willing to buy it. She made me an offer of $11500. I thought that was very nice of her, but the coin has been in my family for 100 years, and I want to take my time determining the best place to sell it.
The next morning Ms. D. called me. She had great news. She had spoken to Larry Stacks and if I brought the coin in Friday morning, that he would take the coin for the June auction. That way I could sell it right away. Otherwise I would have to wait for the September auction and get the money in early November. I said thank you but I would like to do some more research on the coin still.
Over the next few weeks I pored through the coins that Stack's, ANR and Heritage had sold, looking at the photos and comparing them to mine. I became increasingly confident that my coin was an excellent specimen and was actually a much higher grade than what Mr. S. had told me. I liked the coloration a lot. Also I thought the condition was superior to many 64's and even 65's. I even liked the copper spots. It's so obvious when copper spots have been removed. I had also compared the selling prices and styles of the auction houses. One thing I noticed was ANR had been having trouble selling MS 64, 65 and 66 coins, but did not know why. Also I was curious as to why Stack's sold raw coins. I liked Heritage also, but was worried that maybe they were too big of an auction house.
After a few weeks, I decided that the best thing to do was be cautious and use the Stack's Sales East Coast since they were local, and I didn't have to worry about shipping. Also I was concerned about ANR not selling a lot of their high-reliefs. I thought that by leaving it raw, it was more likely to sell, granted that the opening bid was low enough. Also, since this coin had never been on the market there could be more speculation over it. I was worried about the grade they gave me though. So I called Ms. D. and told them that if Stack's was willing guarantee me that they would auction this coin as a Gem Brilliant Uncirculated, then I would consign it with them. If they didn't, then I would want to get it graded before it went to auction. She proceeded to tell me that she can include in the contract that I can get the coin graded if I want. She could send it to NYC to have Larry Stack's personally evaluate it. Then she gave me the contract. She stated that Stack's charges 15% commission to sellers. For some reason at the time, I couldn't remember how much ANR charged, and I thought that that wasn't really too bad of a percentage, so I signed it.
That evening when I got home I thought a bit, and looked at the ANR contract. Then I figured out that 15% is a huge amount of money when you're dealing with the selling prices of these coins. I was a bit flustered, but I decided that I was not a greedy person and would not go back to fight with Stack's East Coast. The next day Ms. D. called. She had great news again. Mr. Stack looked at the coin and thought was a lovely coin with a nice color and would be happy to sell it as Gem. I told her I was happy to hear that. Also I told her that I realize now how much commission I am paying them and that they need to do a great job selling it. Then I called Stack's in NY and asked to speak to Larry Stack. He called me back the next day and assured me that the coin was on his desk and that will definitely go in the September auction as Gem. I stated to him also that I paid a lot of commission to them and that they'd better do a good job selling it.
A few weeks before the sale, I wandered into a coin store and told the proprietor about the coin. He proceeded to say that Stack's was the worst place to sell the coin and that all they're interested in is making money. He said that I have got to try to break the contract and get the coin back. Then get it graded and auction it at ANR. I told him thank you for the advice. Then I was worried. I called ANR and spoke to Dr. Bagg and asked if there was any way I could consign the coin with them instead. He said no and tried to calm my fears and said that Stack's will do an excellent job of selling my coin. Little did I know Stack's and ANR were about to merge.
Well, Stack's did a great job selling it. They even put it on the cover of their catalog, which was a real thrill. The September auction may have not been the most important auction, but the coin sold for $35000. It was a decent price, I wonder what it will sell for in the future or what grade it will get if it's ever graded. I'm not real happy with Stack's Sales East Coast. I think they are a bit predatory. I don't think this is necessary, but maybe they aren't making much money. I have to say that it has been a real adventure learning how to sell this coin. It was a huge responsibility to make sure that it was safely auctioned, which was stressful at times. It's hard to imagine something so small and easily transferrable can be worth so much. I did not think in my wildest dreams that I would get a chance to own and hold such a beautiful and important coin, even if it was for such a short period of time. It was something I had daydreamed about when I was a kid, but I did not ever think it would happen. Also, I am so lucky to have a great mom! Well, I finally got the check for $29750, I ended up turning this coin:
into this! A big truck to carry my quickly growing family. My wife is having twins so we need it!
When I got home I started researching it. First I went on Ebay and tried to identify it by punching in MCMVII. Nothing came up. Then I Yahoo'ed it. That way I got some hits. One of the best ones that came up was Coinfacts.com. However, the only coin that they made a reference to the edge lettering was the Ultra High Relief, which I noticed sold in the millions! That really got my attention. So then I thought, well I really need to be careful. The next morning I took some pictures of the coin and took it to the safe-deposit box.
On Monday, I called Sotheby's and asked them if they auctioned coins. They said no, but recommended Stack's. I called Stack's and they said they had a local office in Fort Lauderdale. So I called there and made an appointment for Wednesday. When I spoke to them they said it's probably not a ultra-high-relief since they are all accounted for and most likely a high-relief. Then I joined up on this collector's forum and on the Heritage website. I asked who are the best auction houses and if Stack's was any good. Everyone was helpful and seemed to think ANR was the best. I was a bit apprehensive about taking it to coin shops, because I was afraid of it getting stolen. I wanted to make sure I worked with the most reputable firms possible. I called ANR and talked to John Pack. He said said that he would be happy to send a catalog and a contract. In a few days the contract from ANR came with a catalog, and they were asking 5% commission. I'll get back to that. Then I called Heritage. They said that they sell high-reliefs all the time and would be happy to consign it. After looking through the auction sites, I started to get to know how grading works, about how much these coins are selling for, who sells the best and how the auctions work.
On Wednesday I met with Mr. S. from Stack's East Coast Sales. He looked over the coin and said it was a very nice high-relief flat edge. He estimated that it was about an MS61-MS62, but because it had copper spots it was a point lower since collectors don't like copper spots. Not really knowing too much about grading, I was happy that it rated Mint State right off the bat. Then he went on his computer and proceeded to show me how much MS60 high-reliefs have been selling for lately which was between $8000 and $12000. Then I met with Ms. D. while Mr. S. worked with another customer. Ms. D. said that being an MS60 Stack's may not want to put it in the auction, however they were willing to buy it. She made me an offer of $11500. I thought that was very nice of her, but the coin has been in my family for 100 years, and I want to take my time determining the best place to sell it.
The next morning Ms. D. called me. She had great news. She had spoken to Larry Stacks and if I brought the coin in Friday morning, that he would take the coin for the June auction. That way I could sell it right away. Otherwise I would have to wait for the September auction and get the money in early November. I said thank you but I would like to do some more research on the coin still.
Over the next few weeks I pored through the coins that Stack's, ANR and Heritage had sold, looking at the photos and comparing them to mine. I became increasingly confident that my coin was an excellent specimen and was actually a much higher grade than what Mr. S. had told me. I liked the coloration a lot. Also I thought the condition was superior to many 64's and even 65's. I even liked the copper spots. It's so obvious when copper spots have been removed. I had also compared the selling prices and styles of the auction houses. One thing I noticed was ANR had been having trouble selling MS 64, 65 and 66 coins, but did not know why. Also I was curious as to why Stack's sold raw coins. I liked Heritage also, but was worried that maybe they were too big of an auction house.
After a few weeks, I decided that the best thing to do was be cautious and use the Stack's Sales East Coast since they were local, and I didn't have to worry about shipping. Also I was concerned about ANR not selling a lot of their high-reliefs. I thought that by leaving it raw, it was more likely to sell, granted that the opening bid was low enough. Also, since this coin had never been on the market there could be more speculation over it. I was worried about the grade they gave me though. So I called Ms. D. and told them that if Stack's was willing guarantee me that they would auction this coin as a Gem Brilliant Uncirculated, then I would consign it with them. If they didn't, then I would want to get it graded before it went to auction. She proceeded to tell me that she can include in the contract that I can get the coin graded if I want. She could send it to NYC to have Larry Stack's personally evaluate it. Then she gave me the contract. She stated that Stack's charges 15% commission to sellers. For some reason at the time, I couldn't remember how much ANR charged, and I thought that that wasn't really too bad of a percentage, so I signed it.
That evening when I got home I thought a bit, and looked at the ANR contract. Then I figured out that 15% is a huge amount of money when you're dealing with the selling prices of these coins. I was a bit flustered, but I decided that I was not a greedy person and would not go back to fight with Stack's East Coast. The next day Ms. D. called. She had great news again. Mr. Stack looked at the coin and thought was a lovely coin with a nice color and would be happy to sell it as Gem. I told her I was happy to hear that. Also I told her that I realize now how much commission I am paying them and that they need to do a great job selling it. Then I called Stack's in NY and asked to speak to Larry Stack. He called me back the next day and assured me that the coin was on his desk and that will definitely go in the September auction as Gem. I stated to him also that I paid a lot of commission to them and that they'd better do a good job selling it.
A few weeks before the sale, I wandered into a coin store and told the proprietor about the coin. He proceeded to say that Stack's was the worst place to sell the coin and that all they're interested in is making money. He said that I have got to try to break the contract and get the coin back. Then get it graded and auction it at ANR. I told him thank you for the advice. Then I was worried. I called ANR and spoke to Dr. Bagg and asked if there was any way I could consign the coin with them instead. He said no and tried to calm my fears and said that Stack's will do an excellent job of selling my coin. Little did I know Stack's and ANR were about to merge.
Well, Stack's did a great job selling it. They even put it on the cover of their catalog, which was a real thrill. The September auction may have not been the most important auction, but the coin sold for $35000. It was a decent price, I wonder what it will sell for in the future or what grade it will get if it's ever graded. I'm not real happy with Stack's Sales East Coast. I think they are a bit predatory. I don't think this is necessary, but maybe they aren't making much money. I have to say that it has been a real adventure learning how to sell this coin. It was a huge responsibility to make sure that it was safely auctioned, which was stressful at times. It's hard to imagine something so small and easily transferrable can be worth so much. I did not think in my wildest dreams that I would get a chance to own and hold such a beautiful and important coin, even if it was for such a short period of time. It was something I had daydreamed about when I was a kid, but I did not ever think it would happen. Also, I am so lucky to have a great mom! Well, I finally got the check for $29750, I ended up turning this coin:
into this! A big truck to carry my quickly growing family. My wife is having twins so we need it!
0
Comments
In honor of the memory of Cpl. Michael E. Thompson
Do I understand corectly that you paid a 15% seller's fee in addition to the buyer paying a 15% buyer's fee? Was 35K the hammer price or the total price with the buyer's fee? Pick up a calculator and do the math! $35k was the hammer price.
As a coin collector, it is sad for me to see someone take a beautiful coin like that, which is a tremendous store of value (if not an appreciating asset), and turn it into the rapidly depreciating asset that guzzles gas and requires maintenance, insurance, etc. That said, we all have our individual priorities, needs, and values, and I am glad to see that while you may have been able to squeeze more money out of the coin, in the end you ended up with something you wanted/needed, and a collector will end up with a beautiful HR Saint.
TD
"La Vostra Nonna Ha Faccia Del Fungo"
Seriously though, I am happy to hear that you managed to create a windfall for yourself at a time when your family needed it - however, as lover of coins, it is also sort of sad to hear you part with what many consider to be the holey grail of gold pieces.
>>>My Collection
<< <i> On Wednesday I met with Mr. S. from Stack's East Coast Sales. He looked over the coin and said it was a very nice high-relief flat edge. He estimated that it was about an MS61-MS62, but because it had copper spots it was a point lower since collectors don't like copper spots. Not really knowing too much about grading, I was happy that it rated Mint State right off the bat. Then he went on his computer and proceeded to show me how much MS60 high-reliefs have been selling for lately which was between $8000 and $12000. Then I met with Ms. D. while Mr. S. worked with another customer. Ms. D. said that being an MS60 Stack's may not want to put it in the auction, however they were willing to buy it. She made me an offer of $11500.
Sounds like Stacks tried to rip your coin.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
This was lot #1696 from the September 2006 auction.
It hamered for $35000 plus 15%, or a total of $40,250.
That is solid MS-65 (outside shot MS-66) money.
Here is the link:
Stacks october 2006 lot 1696
Therefore, Stack's charged you $10,500 to sell a $40,250 coin.
Coin Rarities Online
What did your mom say about all that??
SON I WANT IT BACK!!
That's a huge commission.
Russ, NCNE
Hoard the keys.
<< <i>He estimated that it was about an MS61-MS62, but because it had copper spots it was a point lower since collectors don't like copper spots >>
From the auction description:
<< <i>The fields are flawless, forming a fitting backdrop to devices of medallic perfection. >>
Man, this is good stuff.
Russ, NCNE
I was never big fan of "old Stack's". Let's hope that the ANR culture is the dominant one at the new firm.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Was this the same outfit that told the owners of a genuine 1913 Liberty nickel that it was counterfeit? I wonder how much they offered for it.
I don't know if this was bad attribution or whether it was confusion. Supposedly George Walton owned both a genuine and a counterfeit 1913 Liberty nickel. Sometimes when he got weary of showing off the genuine one, he would show the counterfeit one. So I don't know which one of these was shown to Stack's and was declared to be a counterfeit.
An authorized PCGS dealer, and a contributor to the Red Book.
I remember specifically thinking that whoever at Stacks, in 1963, said
that the coin was counterfiet (assuming it was the same coin) that I
could see them saying that due to the "3" in the date being crude, and not
a normal date-number punch like the 1 or the 9.
So all I'm saying is that it is understandable (to me) that one of the
original Stacks' said the coin was not genuine, based on the knowledge
available at the time.
The most amazing part to me? That the coin had survived in such a condition without any extraordinary care.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Question answered.
"Keep your malarkey filter in good operating order" -Walter Breen
What is now proved was once only imagined. - William Blake
"La Vostra Nonna Ha Faccia Del Fungo"
In honor of the memory of Cpl. Michael E. Thompson
<< <i>Stack's offered you $11,500 for a $35,000 coin? BTW, I know of another collector that took it up the wazoo selling directly to them, so It's nice to hear that you rejected their screw job offer.
Russ, NCNE >>
Yes, but he wound up paying a 30% commission, being hit with 15% on both sides, the buy and sell. It's a shame they take advantage of a non-collector that way. Just think, if he consigned it for auction through a dealer who frequently works with the auction houses, it probably would have been 8-10% instead of 30%.
<< <i>Part of the beauty of Stacks is people paying extra hoping to get a higher grade while in the raw state. >>
That's interesting. It seems that is part of the game too. I reasoned that if this coin hasn't been on the market before, then there could be some speculation. That's what really sells a coin. The way I see it, if you grade a coin, then you're basically setting a minimum price based on current market conditions. This makes the coin less likely to sell, but guarantees a higher price if the market is holding up. If the market is slumping it could be harder to sell a graded coin. Probably the reason the old Stack's didn't like graded coins was because they are harder to sell. It's easier to let speculation take place, and sell the coin no matter what.
I guess my mom, and her mom were real careful with coin. She just had it in an envelope. The thing I liked about that coin was I saw features on it that you don't really see with most of the other high-reliefs that have been handled and tinkered with a lot. Hopefully, we will see this coin again in the future.
Stacks historically auctions ungraded coins. Even if the coin had been certified or graded, the hammer price would still reflect the bidders' view of the accuracy of the certified grade, i.e., either too high or low or just right. This business is very saavy as are those who deal in coins professionally. The lack of certification may have affected the hammer price some but more likely to me the bidders were professionals who knew within some certainty how the coin would grade and bid accordingly. TomB is right. You're better off NOT tracking the coin down the road. If NGC called it a 66 or 67 or so, you'll kick yourself needlessly. If you're happy with the outcxome now then that is all that really counts.
You shouldn't feel shy about telling us who exactly made you that $11,500 offer -- which was clearly lowball and unfair. I wouldn't call that "a bit predatory" -- I'd call it absolutely disgusting behavior.
I'm not bothered by the 15% commissions on both sides -- you got a good price for the coin overall. Could you have done marginally better? Sure. But you did fine overall, particularly for being a non-collector.
By the way, congrats on the expansion of your family and on the SUV to help you with that. Hard as it is for some people on this board to believe, there are bigger necessities in life than coins.
1. Stack's offer to buy the coin was REALLY LOW - guess they don't know how to grade Unc High Reliefs as the price offered was AU58/MS60 money - too bad they can't tell a Gem from an AU coin
2. At a 15% Seller's fee Stack's charged about the maximum Seller's commission that any major auction house charges. Heritage's standard Seller's fee to a non-dealer is 5% for a coin of this nature - so this seller was charged a Seller's commission of $5250 and had he put the same coin in a Heritage auction he would have been charged $1750 - thus resulting in $3500 more to him had done a bit more homework - assuming the same price realized (and you can say what you want about Heritage, but they know how to market expensive coins - all you need do is attend one of their Platinum night auction sessions and watch the prices go thru the roof).
3. From the price realized, this looks like a coin that should have been slabbed before trying to sell it - from the price realized with the buyer's fees ($40K+) whoever bought it believed it to be a MS65 (Greysheet bid on a MS65 in Sept 06 was $43,400) and it might have even graded MS66 which is a six figure coin). It could even have even been one of the several proofs that are known to exist ( I know a dealer who picked off a proof at a FUN show a couple of years ago - there are certain die characteristics that ID the proofs).
None of this is to be critical of this seller, or anyone else - he is very happy with the results (it was after all "found money" - and as the old saying goes don't look a gift horse in the mouth), but one wonders what that coin ended up grading and whether there was maybe another $100,000+ in that sale - one never knows in the coin business - but selling a Gem High Relief raw is not the way to maximize the value of that coin - JMHO
Edited to Add:
Here's the Stacks description of that coin:
"MCMVII (1907) Roman Numeral, High Relief, Wire Rim. Gem Brilliant Uncirculated. It would be difficult to overstate the extraordinary quality of this example of the coin most collectors agree is America's most beautiful. A wealth of fine detail is framed and protected by outer rims of razor sharpness. The fields are flawless, forming a fitting backdrop to devices of medallic perfection. The reverse shows Augustus Saint Gaudens' flying eagle nearly lifting off the rich and satiny field with its sharply defined sun and rays. Two diffused dashes of faint red are seen toward the right margin. This immaculate specimen shows the High Relief design at its best and finding its equal or a finer example might well prove impossible."
Note it was catalogued as a "wire rim", not flat edge as the person who originally looked at it thought - and it's clearly described as a Gem, and not a low end coin of AU to MS60 quality as claimed by the Stack's employee who offered $11,500 for the coin - So either that employee has no clue how to grade or as some have suggested he was trying to "rip" the coin - Maybe Stack's shoudl send him to the summer ANA grading seminar.
One thing I know is that there are several east coast dealers who routinely view the Stack's auctions looking for raw coins that will have potential to grade very high and hence they can double or triple their money because someone choose NOT to have the coin graded. With that coin, had it been submitted for grading and the consignor DIDN'T like the grade - he could have always cracked it and sold it raw - on the other hand, had it graded MS66, it has a "sheet" value of $150,000 - clearly a "Platinum Night" coin! A trip to NGC - located in Sarasota Florida - and having it graded on a walk through (I'll wait for it will you grade it) if the seller was worried about it getting lost - might have netted $100,000 - could be that car was really a house!
“It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.” Mark Twain
Newmismatist
<< <i> On Wednesday I met with Mr. S. from Stack's East Coast Sales. He looked over the coin and said it was a very nice high-relief flat edge. He estimated that it was about an MS61-MS62, but because it had copper spots it was a point lower since collectors don't like copper spots. >>
Elassoto, very glad to read that you didn't accept the first offer! Also very glad you posted "Mr. S's" comments.
I've copied the first paragraph of the auction lot description and pasted it below.
It should be read carefully, as there is no way of reconciling the initial estimate of the coin as MS61-62 (minus one point!) with the words used to describe a coin that finding "a finer example might well prove impossible." I haven't read pop reports, but i'm guessing that this MS61 could very well slab at 5 or 6, if in fact the coin is as nice as they write it up, (and it appears in the photos.)
"It would be difficult to overstate the extraordinary quality of this example of the coin most collectors agree is America's most beautiful. A wealth of fine detail is framed and protected by outer rims of razor sharpness. The fields are flawless, forming a fitting backdrop to devices of medallic perfection. The reverse shows Augustus Saint Gaudens' flying eagle nearly lifting off the rich and satiny field with its sharply defined sun and rays. Two diffused dashes of faint red are seen toward the right margin. This immaculate specimen shows the High Relief design at its best and finding its equal or a finer example might well prove impossible."
Like i said, i'm glad you're happy, but it really turns my stomach.
ps. it looks like you bought a new car with the money, and that's nice, after this crapola at least didn't have to deal with a used car salesman.......
Russ, NCNE
It also points out the perils of being a minnow in a pool filled with sharks.
a) Many people are suspicious of expensive raw coins; I am one of them. Usually, if an expensive coin is not slabbed, there's a good reason, and it's usually not good news for the perspective buyer. The change in value of a coin if it's say, an MS 64 or MS 65, can be huge, and I for one am not willing to take this risk.
b) Personally, I would have slabbed it. You'll have an easier time selling a slabbed coin where a sharp eye thinks it might upgrade, rather than selling said coin raw. Plus, if you didn't like the assigned grade, you could decide to crack the coin.
c) I would have worked with a trusted dealer. Though many coin dealers are sleazy individuals, there are enough of them with personal integrity around, and people on this forum could point you in their direction. Someone of that ilk could bundle your coin as part of a consignment so you could get 105-108% of hammer (less the dealer's fee for working with you).
On your one coin, I don't think you could have negotiated a 105-108% of hammer deal on your own.
"Seu cabra da peste,
"Sou Mangueira......."
----------------------------------------------------
This sounds so much like they were playing
"Good Cop - Bad Cop".
Mr. S starts you out with a low-ball grade
and a low-ball price, to get your mind where
they want it. Then he goes away to help
another customer, and to let what he said
ferment in your head.
Then, along comes Ms. D to tell you that all
is not lost, and that she can get you the
upper level of what Mr. S said the coin was
worth if you just sell it to them now.
Bad Cop gets your mind in the right place...
...Good Cop closes the deal.
Sweet!!
~
"America suffers today from too much pluribus and not enough unum.".....Arthur Schlesinger Jr.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.