I am getting more impressed by the day with Richard Nachbar

Longacre · February 21, 2007 3:43AM

Has anyone ever dealt with this dealer? I see his ads in Coin World, and they look pretty good, and the testimonials seem very impressive. I saw something recently that I think tells a lot about the dealer (note that I have never dealt personally with him).

There was an article in Coin World about how dealers go about traveling to a client to buy a collection. I believe the article reflected comments from three different dealers. For two of the dealers, their quoted responses were fairly brief and high level. However, for Nachbar’s responses, they were very detailed, specific, and to the point. Then I flipped a few pages, and I saw a full page ad from Nachbar that was almost verbatim to the article in Coin World. I quickly realized that Nachbar must have provided a written response to CW’s inquiries, and used that text in his own advertisement. I was very impressed with this. It showed initiative and some marketing savvy. Nachbar probably assumed that the CW writer would take the easy way out, and use Nachbar’s written responses as the main skeleton for the article. In this way, Nachbar got a lot more play in the article, and he was able to then turn that into a full page advertisement. I did not see the same type of initiative from the other interviewees.

Nachbar seems to know where he is going and what he is doing. Does anyone have any direct experience with him? He seems like a goal oriented person, from the hints that I see in print and other observations that I can make.

WTCG · February 21, 2007 4:14AM

Ask David McCarthy (forum member: regulated). He used to work for Richard Nachbar before his current tenure at Kagins.

kranky · February 21, 2007 4:25AM

No direct contact, but I remember being at a Baltimore show where Nachbar was passing out flyers in order to find the owner of a stolen collection. Someone had brought it to him to sell, he knew something was wrong, and told the person to come back the next day. The person (probably the thief) never came back and Nachbar was trying to find the real owner. He spent time and effort to do that with nothing in it for him. I thought that was pretty nice.

ziggy29 · February 21, 2007 4:28AM

My late father sold the bulk of his collection to Nachbar nearly two years ago, once he learned he was terminal. While I wish he would have allowed me to liquidate the collection as called for in his will, I do appreciate that he was trying to eases the burden on his family. He had a good idea of what his coins were worth, and all things considered he was satisfied with Nachbar's offer, which was something like $35,000. A couple months later he got another check for $8,000 from Nachbar because he was able to resell the coins for considerably more than his initial estimate.

While I know we could have done better had I been able to sell many of the nicer coins and given the proceeds back to my mother, all things considered they considered it a fair transaction for a quick liquidation of an entire collection.

mgoodm3 · February 21, 2007 4:32AM

The second check was a nice touch.

guitarwes · February 21, 2007 4:33AM

Sounds like another one of the "good ones".

Will look him up and keep him "bookmarked" for the future.

Thanks Mr. L

Newcomp103 · February 21, 2007 4:35AM

I met him briefly in Atlanta last year...a friend that I was with was selling sets of items Mr Nachbar does not specialize in...he was very pleasant and referred us to several other dealers that he thought we could do business with...and it worked out well.

seatedcollector · February 21, 2007 4:58AM

any dealer that cuts YOU an additional check AFTER the deal is completed must have either a bothersome conscious or just very high moral standards. from what has been posted here, my opinion of him has changed. i used to think he was a sneaky looking creep from his ads in various mags

jmski52 · February 21, 2007 5:11AM

He had a good idea of what his coins were worth, and all things considered he was satisfied with Nachbar's offer

This goes way beyond good ethics, IMO. He was under no obligation whatsoever to issue another check. I think that's the right way to build a clientele, in any business. Hats off to the man!

Jcarney · February 21, 2007 5:29AM

<< <i>A couple months later he got another check for $8,000 from Nachbar because he was able to resell the coins for considerably more than his initial estimate. >>

It always stuns me when I hear stories like that. You see and hear about so many of the seedier stories that you become jaded. Good on Mr. Nachbar!

remumc · February 21, 2007 5:37AM

I'm sure Mr. Nachbar had no idea of the good PR he'd be getting later on this forum. Good things happen to good people, I truely believe it. Ziggy29's story has made my day!

Regards,

Wayne

Veep · February 21, 2007 6:36AM

I'm convinced that when it comes to marketing, Mr. Nachbar knows exactly what he's doing. Its clever to send an additional check and publicize the fact that you did it. Its a way to differentiate himself from the zillions of other dealers who make no such similar claims. But that it is just one mere facet of his marketing campaign. What he's doing with his marketing strategy is working. You would not see him buying full page ads and sticking with a similar theme were it not. He, someone on his staff, or an outside marketing organization is doing a good job.

As for dealing with him, I have only one experience. A while back I was selling my complete set of 1936-42 proofs. His bid was quite a bit lower than the second place bidder and significantly lower than the buyer's. Who knows, maybe I'd have gotten another check and he'd have more fodder for his ad. By the way, I'm not claiming that he's insincere. But after more than a few years of messing with coins I'm hesitant to accept what I read/hear at face value.

RichieURich · February 21, 2007 7:10AM

I have seen him at several shows with a table, but never with anything for sale. Does anyone know what he does with all of the coins he buys?

kumajim · February 21, 2007 7:30AM

I never heard of that happening before,
That's a first !!!

jbsteven · February 21, 2007 8:40AM

I know of other dealers that have sent second checks. It does happen.

coindeuce · February 21, 2007 8:52AM

<< <i>I know of other dealers that have sent second checks. It does happen. >>

It's commonly referred to as the profit sharing method of buying. Offers to buy are based on an undisclosed contingency that if the material brings more than expected upon resale, then a profit sharing check will follow the original purchase check. Sort of like free financing for the dealers that use this method of buying. Usually works on the premise that sellers without precise knowledge of the market for what they own will happily accept the profit sharing check without realizing that they actually had that extra money tied up for however long it took the dealer to liquidate their collection.

I am getting more impressed by the day with Richard Nachbar

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