Am I the only one who tracks coins sold to dealers in their inventory to see if they resold?
Longacre
Posts: 16,717 ✭✭✭
Perhaps I am odd with this, but I will give it a shot and see if others do the same thing. I tend to worry about my coin dealer and am concerned that he is making a decent living. I know that the coin dealing profession is pretty hard, and it is difficult on people with so much time on the road, away from their families, etc.
I sold a coin to a dealer at the recent Baltimore show. I see that it is now in his inventory. Other than being enamored that this coin has the coveted Longacre pedigree, I have been tracking it in his inventory to see if it sells. I find myself checking at least once a day, just out of curiosity. Does anyone else do this for a coin that was pedigreed to their personal collection? Or am I the only one?
I sold a coin to a dealer at the recent Baltimore show. I see that it is now in his inventory. Other than being enamored that this coin has the coveted Longacre pedigree, I have been tracking it in his inventory to see if it sells. I find myself checking at least once a day, just out of curiosity. Does anyone else do this for a coin that was pedigreed to their personal collection? Or am I the only one?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
Well, now we have "The Coin Stalker!!!!!"
LOL
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>Longacre---Do you also check to see what the dealer's ask price is for your coin to see how much profit he is making on your coin? >>
I certainly have done this -- of course, the price at which the dealer lists the coin is not necessarily the price at which he actually sells it, but if you know something about the dealer's usual discount structure than you can probably interpolate a real price pretty closely. Always a fun thing to do.
It is amazing sometimes what dribs and drabs of money dealers will work for, actually.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
<< <i>Longacre---Do you also check to see what the dealer's ask price is for your coin to see how much profit he is making on your coin?
When you see their prices, makse you wonder how all these dealers claim to work on such low margins, doesn't it?
<< <i>Longacre---Do you also check to see what the dealer's ask price is for your coin to see how much profit he is making on your coin?
That may not tell you much. If you sell a coin at $1000, a dealer may hope to get $1200 for it so they may list at $1300 or $1400, knowing they have wiggle room down to $1200 in negotiation. Seeing it listed for $1400 doesn't necessarily mean fat profits ahead.
Checking it everyday? Isn't that being overly compulsive? I just let it go. Like mozin, once the coin is gone it's gone. I don't make time to worry about it.
KJ
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"