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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
 Posted - 04/13/2008 : 19:10:09
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quote:
Originally posted by moboman
maybe you should setup in front of the coin dealer and offer the same or a little more in price to the people than the dealer does. And offer FRN's. Be sure to wave around the greenbacks. :D.
you would save some money because the dealer might pay 40 and sell to you for 50. While you could pay the person $45, and you would both win, but the dealer would lose.
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Actually, trying to undercut the coin dealer near his shop would be a bad idea....Probably get myself banned from the dealer. Good luck with that approach.
Deal
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Yes, I'm guessing Moboman was joking.
While I wish there was less of a stigma of letting customers make contact or work out deals,
Realistically, if everyone was working OUTSIDE the coin shop three things would happen, The outside buyers wouldn't be able to buy up all that was being brought to sell;
There would be sufficient competition to push the coin dealer out of business;
And then the ability to get good quality coins would plummet, everyone and their dog would claim to have ms65 coins(that were barely ms63) and counterfeits and fake coins and gold would likely flourish.
As much as i hate to see 'grandma' unload a box of 'old coins' for about 60-85% of their worth, and then me have to pay retail PLUS TAX.... I don't think it would be a pretty place to have no Legitimate and experienced coin dealers.
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"May your percentages ever increase!" |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 04/13/2008 : 19:12:36
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I don't know if you can tell, but I had cut these three comments from another thread.
My question or curiousity is:
How do you make contacts to make deals outside of the coin shop?
Last time I visited my local coin club it was mostly kids and not many coin holders interested in trades or deals.
Then this past week I saw one of the very same men selling a group of coins in the local coin shop. Perplexing! |
"May your percentages ever increase!" |
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Know Common Cents
Penny Pincher Member
195 Posts |
Posted - 04/13/2008 : 19:27:49
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You'd be banned by any of the dealers that I know. I've seen it happen to a couple of people who were pretty active in the hobby. The dealer community, while highly competitive, is still a close-knit group. Your name would be circulated and recirculated throughout the dealers and you might as well have the letter G for "Goof" tatooed on your forehead for all to see.
If you have a keen interest in something that the dealer has just purchased, wait until the seller has left. Then politely let the dealer know that you're interested. They're usually willing to turn it around quickly and make a few dollars profit rather than having to take it into inventory, etc. One of the times that it may not be possible, though, is when the dealer is required by law to hold certain items for a period of time (2 weeks in some WI communities) to ensure that the seller wasn't fencing stolen PMs in any form. |
Here in Wisconsin, we have some of the highest property and gasoline taxes in the US. We're squeezed so much, I have to make my daughter wear penny boxes for shoes. At least she has an endless supply. |
Edited by - Know Common Cents on 04/13/2008 19:28:59 |
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copperpennies
Penny Pincher Member
USA
222 Posts |
Posted - 04/13/2008 : 19:41:02
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| I think that that would get the dealers really upset me to the point of seeing yellowed off. |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 04/13/2008 : 20:41:57
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I was joking but it might just work. If you see someone in the parking lot walking up to the coinstore, you could ask to see their collection.
I know someone who's grandpa just died and left him a lot of coins, he offered to sell them to me, so if you knew someone like this...
Maybe you could advertise in the paper that you buy coin collections?
I cant help much, as I've never bought anyone's collection. |
"99% of all lawyers give the rest of them a bad name" 
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 04/13/2008 : 23:45:17
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The first two posters completely ignored my question....
I know you can't make an obvious proposal right in the door of the coin shop. And most people would run from you if you approached them offering to buy it(they are probably nervous enough if they know that what they are holding is worth more than $500).
BUT HOW do you make the connections? How do you get in?
You see.... I can't reason paying $750 for a coin that the dealer may only pay $400 for(that is the spread on some wholesale-retail coin prices). Because I know if I'm in a pinch and have to sell it, I'm going to be out $350, not to mention that $50 tax I'd have to shell out for a $750 coin.
True, it should all be for the long haul....but i'd like the opportunity to buy a few coins without the significant markup...if I could!
But I don't want to run the coin dealers out of business either. Many of them are doing an honest service(though some are just crooks!) |
"May your percentages ever increase!" |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 04/14/2008 : 03:55:19
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You could always just spend time hanging out in the coin shops and shooting the breeze with the dealer and whoever comes in.. as long as you're buying coins there regularly it doesn't seem too likely that the dealer will have issues with it. Then later if you happen to run into some of the same people around town you could suggest meeting up somewhere for trades. Running an ad seems like a good idea also for buying from the non-collector types.
Personally if I was approached by someone I didn't know outside a coin shop wanting to do a deal I would probably be more than a bit creeped out (and I would probably mention what happened to the dealer if it made me uncomfortable). |
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Coin deals and trading OUTSIDE of coinshop
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