Dealer to dealer transactions at Coin Shows
bestday
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What price benchmarks do dealers use as a sell price to other dealers at Coin shows ?
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It really depends on the coin. If a dealer has three buyers competing to buy a coin, I doubt if he'll offer much of a "discount" to any one buyer. On the other hand, if one dealer spends several thousand dollars with another each month, then that dealer will probably get a decent "discount" on some other items.
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<< <i>Pretty much the same benchmarks that everyone else uses: Gray Sheet, Blue Sheet, Coin Values, knowledge of current market prices, etc.
It really depends on the coin. If a dealer has three buyers competing to buy a coin, I doubt if he'll offer much of a "discount" to any one buyer. On the other hand, if one dealer spends several thousand dollars with another each month, then that dealer will probably get a decent "discount" on some other items. >>
Sounds like a pretty reasonable answer.
<< <i>I think it is usually going to be determined by what the current owner paid for it. >>
I disagree. Where some dealers are stuck in the past, more and more dealers are willing to sell coins at current levels no matter what the initial cost. I know I bit the bullet on several pieces including a Missouri 2*4 that I was burried in. In recent days we also took some losses on some some C and D mint gold that we were in at old levels. I was able to buy a lot of stuff around bid, some back, some over. On most heavily traded series bid levels are fine. I really didn't play with seated or bust stuff at the show.
I'll often price a coin based on some markup above what I would pay for a similar item. Of course, the amount I would pay is based on the amount I think I can get. So, in other words, I price coins based on how much I think I can get for them. How mercenary is that?
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<< <i>I think it is usually going to be determined by what the current owner paid for it. >>
Or how much he wants to dump it. I recently picked up some Lincolns (as a retail customer) that the dealer claimed he was letting go below his cost because he wanted to be out of them. Not sure if they were really below his cost (I suspect he bought high hoping they'd continue to skyrocket and wanted out to make other acquisitions), but I got some deals at below retail on what I'd consider PQ coins.
60 years into this hobby and I'm still working on my Lincoln set!