motel buyers in the area
jdimmick
Posts: 9,784 ✭✭✭✭✭
Everyone already knows how they operate, but the motel buyers are in the area here, this time they set up in a town about 40 miles south of here, but run big two page adds all week in our towns paper. You should have seen the countless number of calls I recieved today on some of the offers folks recieved. I did not know they were coming until the last minute so it was too late to place a counter add to combat them , but I just so happen to have run a page add in todays paper with buying prices listed which was already in place earlier. Some of the people were pe'od after finding out they were ripped.
one guy told me they offered him $11 bucks each for his morgan / peace $
another informed me today he laid out 3 silver Franklin half dollars, a Morgan and peace $and the quote was 22.00
another lady said she had sold her 1904 $20 gold piece for 900.00
Offering $20 each on silver eagles.
14.00 gram on 14kt.
The funny thing is, from what I was told people were lined up for miles selling to these folks. Folks always seem to flock to these buying events.
one guy told me they offered him $11 bucks each for his morgan / peace $
another informed me today he laid out 3 silver Franklin half dollars, a Morgan and peace $and the quote was 22.00
another lady said she had sold her 1904 $20 gold piece for 900.00
Offering $20 each on silver eagles.
14.00 gram on 14kt.
The funny thing is, from what I was told people were lined up for miles selling to these folks. Folks always seem to flock to these buying events.
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<< <i>Everyone already knows how they operate, but the motel buyers are in the area here, this time they set up in a town about 40 miles south of here, but run big two page adds all week in our towns paper. You should have seen the countless number of calls I recieved today on some of the offers folks recieved. I did not know they were coming until the last minute so it was too late to place a counter add to combat them , but I just so happen to have run a page add in todays paper with buying prices listed which was already in place earlier. Some of the people were pe'od after finding out they were ripped.
one guy told me they offered him $11 bucks each for his morgan / peace $
another informed me today he laid out 3 silver Franklin half dollars, a Morgan and peace $and the quote was 22.00
another lady said she had sold her 1904 $20 gold piece for 900.00
Offering $20 each on silver eagles.
14.00 gram on 14kt.
The funny thing is, from what I was told people were lined up for miles selling to these folks. Folks always seem to flock to these buying events. >>
Have you considered taking out an ad saying what was offered and what you would have offered?
There was another outfit here at the same time paying "highest prices". But you had to show up in person to to find out what they were.
have here. Not by much, but higher than they pay for 14k, silver dollars and the
$20 gold piece. Halves about the same.
bob
The companies these goons work for are the ones to blame. The goons, unfortunatly, only pay what they're told to pay and make a good living out of it fleecing the uneducated masses who seem to be mesmerized by these fly-by-night cash handing-out people.
I was talking to a dealer from Florida at a show last year who was approached by one the major motel buyer companies who offered him $10K/week to travel as a buyer.
Too many positive BST transactions with too many members to list.
Here's a question related to this thread......
I'm a very small-time collector filling holes in Whitman blue folders. I just received about a 1/2-dozen Morgan & Peace $1's from my Mother-in-Law (yes, I AM lucky!!
I'd love to be able to turn around & sell them at the best going rate & use the money to buy some dates I do need at similar near-"spot" prices. Or maybe even buy the ones I need first & wait until spot prices rise even more before selling the ones from my MIL, so I either end up with a relatively low net cost, a "wash", or even better (in a best-case scenario, I know).....
Normally, I'd expect only "junk" & common dates to be sold at spot, but, with the prices today & the elderly, etc getting hoodwinked daily as the above posts indicate, there COULD be some better dates/mintmarks (including ones I need) being sold to those gold/silver storefronts and motel carpetbaggers.
I'm assuming these buyers cherry-pick the better dates/mints/grades to cover their costs & sell the true "junk" to wholesalers/smelters, and would not let me "cherry-pick" what they get in. And the few "junk boxes" I still see at shows or B&M's (the rare ones left around here) have even worse dates/conditions than I need, or shined-up coins I wouldn't want.....
What's the best way for someone like me to find some respectable dates (they don't have to be UNC, etc - - actually, I like wear for its "character" and am just trying to fill holes) without either setting up a similar storefront & having to spend $ thousands just to find 1 or 2, or having to pay moon-money?
What's a small-timer like me to do?
- - Dave
DBSTrader2- try a BST ad for the dates you need
Too many positive BST transactions with too many members to list.
Of course, I'll try again (one never knows), but is that pretty much all I'm limited to in my case?
I just WISH I could sit at a table next to those guys buying bags of coins & dumping them in a counter/scale & first grab what I needed................
Oh, if I'd only been born a few years earlier so I'd have KNOWN what was going down in the mid-60's and could have filled my collection more before the "clad-age"...........
the next one(and last) i did the logic-confusion trick. actually was good day
<< <i>$I'd love to be able to turn around & sell them at the best going rate & use the money to buy some dates I do need at similar near-"spot" prices.
And the few "junk boxes" I still see at shows or B&M's (the rare ones left around here) have even worse dates/conditions than I need, or shined-up coins I wouldn't want.....
What's the best way for someone like me to find some respectable dates (they don't have to be UNC, etc - - actually, I like wear for its "character" and am just trying to fill holes) >>
this is how this small timer has filled holes.
i keep going back and check their inventory. lately, it turns over quickly.
been trading duplicates/junk silver and filling holes rather sucessfully.
twice ive duplicated myself
<< <i>The companies these goons work for are the ones to blame. The goons, unfortunatly, only pay what they're told to pay and make a good living out of it fleecing the uneducated masses who seem to be mesmerized by these fly-by-night cash handing-out people.
I was talking to a dealer from Florida at a show last year who was approached by one the major motel buyer companies who offered him $10K/week to travel as a buyer. >>
The companies are to blame? Not the guy who actually takes the money to rip grandma? What about grandma who can't call two coin shops to find the going rate?
<< <i> Oh, if I'd only been born a few years earlier so I'd have KNOWN what was going down in the mid-60's and could have filled my collection more before the "clad-age"...........
Well be wary of the hindsight thing.
And please consider that we no more 'knew' what was going down then than we do today in regard to any number of things. Also please remember that the early 60's while pleasant in many regards, was not an era when ordinary folks commanded such a surplus of assets that they could salt thousands away. One could have just as easily bought a Mustang in late 64 or early 65, garaged it for 40-plus years and then sold it for phenomenal multiples. Or real estate on Cape Cod. Or...... well you get the point. Of course, one might also have invested heavily in Penn Central Railroad ( Blue Chip, doncha know. Dependable dividend provider, etc, blather, gab....) and done somewhat less well.
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BUT, having said that, yeah it WAS cool to have been paid with a real silver dollar, to have found silver nickels, buffalo nickels with legible dates, Indian head pennies, etc. commonly in circulation or in one's paper route collection money. Commonly, like every week. We mostly collected pennies, (everybody had a Whitman album) and nickels. Dimes were getting up there as were quarters. Half dollars were not collected much because although they circulated as freely as any other denomination, it was just too much money for most of us. My paper route cost you 42 cents a week for Mon-Sat home delivery. Half dollars represented too much money to seriously consider collecting them.
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You're living your 'sixties' today. Look around, analyse what you see and hear, make your own judgements and decisions. Don't be duped into believing that somehow 'opportunity' has passed and belongs only to the echoes of history. Fifty years hence another similarly positioned individual will be lamenting that the golden opprtunities of the Lean-Teens ( we're just about to enter them and I am presuming to so dub the era in advance) are long-lost to them.
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Maybe going out in advance of these 'motel buyers', renting competing space, advertising heavily to "Compare B4 U sell")0, paying more generously but still making a living,..... would work for you. Actually there appears to be a good deal of room for honest competition in the field.
Good luck!
If I had a choice, I'd pick the present. But if I'd built a time machine to rob the 1895 King of the Morgan business strikes, it would be 1893, to grab some S's while I am at it.
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It's funny how coins take you back in time.
If someone walks into a retail establishment and pays full fare without comparison shopping, we have no sympathy for them. And generally these folks don't complain about being "ripped off."
But if they sell something for too little without having done research, we automatically blame the buyer. And the seller is sure they have been "ripped off."
In this case, the buyer provided a service by making it very easy to sell something - lots of money spent on ads and setting up in rented space. Why should that service be free?
Assume for a minute the hotel guy's margins are about the same, at the end of the day, as the regular B&M guy. In that case, is the guy still a con artist?
Any seller should , not just grandma . But then , there are many people who are not familiar with an 'item' or dont care .
Also , not every town has a coin shop , or may be a long drive away .