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B & M dealer; I didnt make a fuss, but
RaginsteveK
Posts: 511
... I really wanted to.
I stopped by a coin shop while on a road trip- a place where I had bought a few coins earlier this year; since i paid his prices, I assume that it was a profitable transaction for him.
This trip, I thought that I'd try to unload a few circulated Barber Halves (F- VF), some common, some not, for pin money; he indicated that he really wasnt interested, but looked them over. .
I selected 4, suggested a price severely discounted, and not a whole lot over bullion (and maybe a third to half of what I paid); his gruff attitude was not what one would expect from someone who really shouldn't antagonize a potential customer; there's wasnt much happening in the shop, so I wasnt interfering with any obvious ongoing business.
At which point I simply left,
without saying that I had stopped by once before, and had bought a few coins- just to say hello; and in all likelihood, it wasnt gonna happen again.
Would have liked to respond, in some fashion.
I stopped by a coin shop while on a road trip- a place where I had bought a few coins earlier this year; since i paid his prices, I assume that it was a profitable transaction for him.
This trip, I thought that I'd try to unload a few circulated Barber Halves (F- VF), some common, some not, for pin money; he indicated that he really wasnt interested, but looked them over. .
I selected 4, suggested a price severely discounted, and not a whole lot over bullion (and maybe a third to half of what I paid); his gruff attitude was not what one would expect from someone who really shouldn't antagonize a potential customer; there's wasnt much happening in the shop, so I wasnt interfering with any obvious ongoing business.
At which point I simply left,
without saying that I had stopped by once before, and had bought a few coins- just to say hello; and in all likelihood, it wasnt gonna happen again.
Would have liked to respond, in some fashion.
0
Comments
roadrunner
(FACTS), there's a seller of over $100 FACE in
circ. Barber Halves for 25X face, which is just under
melt.
<< <i>he indicated that he really wasnt interested, but looked them over >>
Does this really require more explanation? He didn't really want it meaning he either was not interested or knew he did not have the market to sell it. At that point you probably should have said "thats ok" and taken them back. Coin dealers will buy anything but at a price. He knew that at the level he was offering he could get out of them. If that price is not good for you, walk.
The dealers end market is probably just over bullion. With silver at these levels and recently much higher most common Barber coins, unless XF or higher are really just junk. I see this stuff trade with my wholesaler all the time as just 90% silver.
Knowledge is the enemy of fear
Crack 'em out! Put 'em in an album! (Sell them at melt or below!)
What am I missing here?
<< <i>Just for information, on the dealer Teletype System
(FACTS), there's a seller of over $100 FACE in
circ. Barber Halves for 25X face, which is just under
melt. >>
I'm sure that's the case, but I'd guess almost all of those Barber Halves being in AG-G condition which is what you get in Barber junk bags, not quite the F-VF coins being offered up by the OP to this dealer.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700
a) Just because you're offering them, even at a discount from what you paid, that doesn't mean he's going to want them.
b) Just because you bought something from him in the past, that doesn't mean that by default he's obligated to buy something from you.
c) As stated by others, common used Barber stuff isn't moving at anything more than a modest premium over melt, and sometimes less. In fact, some buyers are even weighing circ Barber stuff and discounting it from their normal 90% buy rates if it's too worn. And yes, some premium-for-the-grade F-VF stuff can bring a premium, but not everyone has the same market outlets for that stuff.
d) He told you he wasn't really interested right at the outset of the conversation. BIG HINT. And, given that, why would you be shocked and surprised when he actually didn't want the stuff?
RIP Mom- 1932-2012
<< <i>I thought mid-grade circulated (F-VF) Barber Half Dollars are supposed to be scarce and desireable. At least that is what we are told by the dealers who want to sell them to us.
What am I missing here? >>
Maybe the dealer in question isn't one of the ones saying the coins are scarce and desirable? Not every dealer is interested in the same kinds of coins and if Barber halfs are not big sellers in his store, he may not be all that interested tying money up in some.
As a general rule, an indication by a dealer that they are not particularly interested in what you have for sale seems to me to be a good sign you'll get a lowball offer if you ask for one.
<< <i>
<< <i>I thought mid-grade circulated (F-VF) Barber Half Dollars are supposed to be scarce and desireable. At least that is what we are told by the dealers who want to sell them to us.
What am I missing here? >>
Maybe the dealer in question isn't one of the ones saying the coins are scarce and desirable? Not every dealer is interested in the same kinds of coins and if Barber halfs are not big sellers in his store, he may not be all that interested tying money up in some.
As a general rule, an indication by a dealer that they are not particularly interested in what you have for sale seems to me to be a good sign you'll get a lowball offer if you ask for one. >>
I would ordinarily agree with you, because you are correct of course, but telephoto1 just got through telling us (on another thread) that a dealer can move inventory by just making a telephone call or sending an eMail, so I wonder why the dealer could not move these presumably scarce and desireable coins by making a telephone call or sending an eMail?
telephoto1 is obviously a seasoned dealer and therefore correct.
<< <i>I would ordinarily agree with you, because you are correct of course, but telephoto1 just got through telling us that a dealer can move inventory by just making a telephone call or sending an eMail, so I wonder why the dealer could not move these presumably scarce and desireable coins by making a telephone call or sending an eMail? >>
Because he didn't want to? Because he had something else he was busy with that was more important? Because he enjoys disappointing people who want to sell him coins?
Who knows?
People all have different reasons for doing what they do- dealers and collectors alike. As long as you (in general, of course) expect that others will do things the way you think they should, you're going to suffer lots of disappointments. The fact you don't understand why somebody does something is not evidence they are doing whatever it is wrong.
<< <i>Just for information, on the dealer Teletype System
(FACTS), there's a seller of over $100 FACE in
circ. Barber Halves for 25X face, which is just under
melt. >>
I have Barbers for sale at melt too ,BUT not F-VF like the op had
<< <i>
<< <i>Just for information, on the dealer Teletype System
(FACTS), there's a seller of over $100 FACE in
circ. Barber Halves for 25X face, which is just under
melt. >>
I have Barbers for sale at melt too ,BUT not F-VF like the op had >>
<< <i>
<< <i>I would ordinarily agree with you, because you are correct of course, but telephoto1 just got through telling us that a dealer can move inventory by just making a telephone call or sending an eMail, so I wonder why the dealer could not move these presumably scarce and desireable coins by making a telephone call or sending an eMail? >>
Because he didn't want to? Because he had something else he was busy with that was more important? Because he enjoys disappointing people who want to sell him coins?
Who knows?
People all have different reasons for doing what they do- dealers and collectors alike. As long as you (in general, of course) expect that others will do things the way you think they should, you're going to suffer lots of disappointments. The fact you don't understand why somebody does something is not evidence they are doing whatever it is wrong. >>
Ordinarily i would agree with you, but we were told (a couple of days ago, in another thread) that all B&M dealers had to follow the operational procedures as outlined in the BAM-CON manual. Or am I mistaken about that?
<< <i>
<< <i>I would ordinarily agree with you, because you are correct of course, but telephoto1 just got through telling us that a dealer can move inventory by just making a telephone call or sending an eMail, so I wonder why the dealer could not move these presumably scarce and desireable coins by making a telephone call or sending an eMail? >>
Because he didn't want to? Because he had something else he was busy with that was more important? Because he enjoys disappointing people who want to sell him coins?
Who knows?
People all have different reasons for doing what they do- dealers and collectors alike. As long as you (in general, of course) expect that others will do things the way you think they should, you're going to suffer lots of disappointments. The fact you don't understand why somebody does something is not evidence they are doing whatever it is wrong. >>
Or how about because the dealer could move them with a phone call... for a fair profit over what he offered. Many coins are only scarce and desirable to the right person. Copper collectors will pay huge premiums for a junky coin if it's a rare variety; many dealers would offer back of bid for the date because the coin isn't nice. Just because a dealer did it doesn't make the dealer wrong.
I agree with the other posters who point out that the dealer started by saying he wasn't interested. That's a clue that he won't be paying high, and continuing to show them to him is tacit approval that you know a low offer is coming. If the dealer were to say he specializes in that material and then offered low, he's either taking you or the coins aren't what you think they are. But that's not what happened here.
Problem is, some folks think that just because they own it, then by default everyone else should not only want it, but be willing to pay their price. Doesn't always work out that way.
RIP Mom- 1932-2012
<< <i>Some observations:
a) Just because you're offering them, even at a discount from what you paid, that doesn't mean he's going to want them.
b) Just because you bought something from him in the past, that doesn't mean that by default he's obligated to buy something from you.
c) As stated by others, common used Barber stuff isn't moving at anything more than a modest premium over melt, and sometimes less. In fact, some buyers are even weighing circ Barber stuff and discounting it from their normal 90% buy rates if it's too worn. And yes, some premium-for-the-grade F-VF stuff can bring a premium, but not everyone has the same market outlets for that stuff.
d) He told you he wasn't really interested right at the outset of the conversation. BIG HINT. And, given that, why would you be shocked and surprised when he actually didn't want the stuff? >>
the conversation began- what do you want for them ( no immediate response from me); I dont really need Barbers .... I'm not interested in specific years .... me thinking- well why did you ask in the first place?
when I made a secondary offer, the conversation terminated abruptly; I suspected that he would have offered me a discount from bullion; regardless of the market, most of them were simply too nice-
most dealers I've encountered have been pretty terrific; even those lacking in personality have gone out of their way to be helpful; guess I expected better.
one of the reasons I've gone back to a few is that I appreciate the education I've been receiving.
maybe I havent been around enough.
1879-O{Rev}: 1st coin of my "secret set"
<< <i>
<< <i>Some observations:
a) Just because you're offering them, even at a discount from what you paid, that doesn't mean he's going to want them.
b) Just because you bought something from him in the past, that doesn't mean that by default he's obligated to buy something from you.
c) As stated by others, common used Barber stuff isn't moving at anything more than a modest premium over melt, and sometimes less. In fact, some buyers are even weighing circ Barber stuff and discounting it from their normal 90% buy rates if it's too worn. And yes, some premium-for-the-grade F-VF stuff can bring a premium, but not everyone has the same market outlets for that stuff.
d) He told you he wasn't really interested right at the outset of the conversation. BIG HINT. And, given that, why would you be shocked and surprised when he actually didn't want the stuff? >>
the conversation began- what do you want for them ( no immediate response from me); I dont really need Barbers .... I'm not interested in specific years .... me thinking- well why did you ask in the first place?
when I made a secondary offer, the conversation terminated abruptly; I suspected that he would have offered me a discount from bullion; regardless of the market, most of them were simply too nice-
most dealers I've encountered have been pretty terrific; even those lacking in personality have gone out of their way to be helpful; guess I expected better.
one of the reasons I've gone back to a few is that I appreciate the education I've been receiving.
maybe I havent been around enough. >>
If I'm in your shoes, here's what I take away from that conversation... he obviously doesn't want them at anything more than 90% money. OK, fine. Since I think they're worth more than that, there's no deal to be struck here. So I forget about it and look for someone else who values them as much as I do (or close enough that I'm happy with the offer anyway). No hard feelings.
Edit to add: regarding your statement "most dealers I've encountered have been pretty terrific; even those lacking in personality have gone out of their way to be helpful; guess I expected better."
What exactly is your definition of "better"? He already said he wasn't really interested in Barbers by date, in the first sentence of your conversation with him. Given that, how much "better" were you expecting?
RIP Mom- 1932-2012
I think they're thinking you'll either keep it or they'll get it so cheap they can easily unload it and make a small profit. Either outcome is fine for them.
Some examples might be:
These sort of coins, older F-VF barbers. (he might only be able to easily unload fast at melt)
Unc common silver. (he might only be tossing it in with his 90% melt coins to unload it fast)
Modern unc sets of clad dimes or quarters or nickels. (he may only turn them into a bank at face)
Modern rolls of clad or state quarters, cents, etc. (he may only turn them into a bank at face)
Sure these things have value to someone but that takes time and effort, the dealer may not want to invest his time in anything other than how to unload the stuff fast with the least effort. He has other things that are more worth his time to mess with.
Still it's really important for dealers to not make the customer feel like he was snubbed when a customer brings these items.
Best case they smile and explain it, take a minute and explain their reasoning.
Worst case the dealer is so sick of explaining the same thing and they growl and give a short answer and the customer will not be back.