Greed..................
keets
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Why is there so much greed in Numismatics??
Al H.
Al H.
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keets
Posts: 25,351 ✭✭✭✭✭
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endemic in all financial systems, from Capitalism to
Communism. I have been pleasantly amazed, by the
amount of good will and decency shown by Forum
members to one another. Perhaps there is indeed hope
for us all.
Camelot
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
And, in this case, it has been allowed to prosper because people who talk about it get attacked.
If someone started calling out the coin doctors and greedy dealers, and outlining why they are greedy, that person would likely be sued and ostracized by the part of the hobby that controls a large portion of the supply of coins.
It's a sad "old boys" network (yes, I know some are women). Ebay, for good or bad, removed a lot of one type of greed (there is still the other greed of ripping folks off at times though
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Ray
"Why is there so much greed in Numismatics??"
Because of The Seven Deadly Sins, it's the most fun!
off of this hobby as well as collectors trying to make money.
as coins rose in price, people saw an opportunity to make money
and it brought in those who see it that way.
find a hobby where most items are cheap and you will see greedy
people take no interest in it.
some that post on this forum. It frankly can be sickening at times. Of course, they would tell you that it is pure
capitalism and no one is forcing anyone to buy. While this has some truth to it, in more than a few cases it
is simply taking advantage of the uninformed, uniniated and unknowledgeable.
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
80s? heck, the pros were writing books left and right how to make
money in this "hobby".
these same people are looked at today as "gods and worshipped".
they made good money dealing in coins and people emulate them.
I dont think I have ever seen a concensus (spelling?) on what that definition is...
just completed 3d tour to Iraq and retired after 28+ years in the US Army
1. i'm blessed to live in an area with some really honest B&M shops within a short drive
2. as a general rule i dont collect high enough up on the financial ladder to really see the greed ($20-$50 coins are the norm for me)
3. i work at a used car dealership (no lie) so by comparison........
www.brunkauctions.com
The name is LEE!
This coin hobby has more good than bad overall.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>Why is there so much greed in Numismatics?? >>
Inquisitive answer: Define greed. Be more specific.
Jaded answer: Because there is so much greed in the world. Get used to it and come to terms with your own.
Windbag answer: Because both people sitting down at the table across from each other are trying to get the most they can for the least they can get away with letting go of. Every free marketplace is like this, there are no exceptions. Personally, I think a lot of people would feel much better about their passion for collecting if they came to grips with the fact that it is a two way street and you can walk away from any deal before you shake hands on and still feel good about yourself and the person you attempted to make a deal with.
Not a devotee of moral relativism per se am I, but this question requires specificity. Is it based upon a singular event or is it a gross generalisation?
While we are at it, did you walk on the sunny side of the street today?
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
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Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
``https://ebay.us/m/KxolR5
QN
Go to Early United States Coins - to order the New "Early United States Half Dollar Vol. 1 / 1794-1807" book or the 1st new Bust Quarter book!
that al (keets) is not a greedy guy...this stems from help with a "giveaway" i was doing...pure class and not one cent was to be accepted
although some greedy are tossed in this mix...i adore those who are not...keeps me a happy collector
as to why is there so much...
i was taught perception is the key...if i look...it's there...ugly thing to look at
if i'm not looking ...it goes away...because i see all the beauty greed tried to stumble me with
Scenario 1:
Dealer buys coin from someone for $50. Dealer sells same coin for $55 ===== Profit $5
Scenairo 2:
Dealer buys same coin for $50. Dealer sells same coin for $150 ====== Profit $100
I know this is not a perfect example but lets assume for ease that the coin, ask is: $60 (Randomly selected price)
One argument is that the market will bear $150 so a profit of $100 is perfectly acceptable? But where would that become greed? When the market will no longer bear the ask price that said dealer is looking for?
I dont know the answer, but I think its important for it to be discussed.
I wouldn't really call a lot of it greed either.... just capitalism.
Scenairo 2:
Dealer buys same coin for $50. Dealer sells same coin for $150 ====== Profit $100>>>
first dealer could be well to do and no overhead purely giving back as service to the community.
second dealer could have lease-employees-kids-wife- not well to do and needs to make "x" amount just to keep all concerns afloat.
bottom line
dealers do leg work collectors aren't in position to do...scour shows to find speciality series to offer as a source...some collectors as i find dealers keep this hobby afloat more then others think
i support them
<< <i>I support them >>
As do I, my intent is not to 'attack' dealers, just to ask that we define the question.