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 Replies: 19 / Views: 3,488 |
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Moderator
 United States
188770 Posts |
Great story, thank you for sharing.  |
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Bedrock of the Community
Australia
21788 Posts |
I have a good rapport with one of the most respected dealers in ancient coins in Australia.
That relationship has been maintained for over 30 years.
Both of us have gained a huge amount of benefit and experience from this commercial relatonship.
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Moderator
United States
23522 Posts |
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Both of us have gained a huge amount of benefit and experience from this commercial relatonship. And that's the thing which many dealers don't get. If you only make 10% profit from me, every week for thirty years, that's a ton of money in your pocket and I'll freely give it to you. |
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Pillar of the Community
United States
2130 Posts |
Thanks for the story. It was quite refreshing. I want to move to where you are.  |
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Valued Member
United States
371 Posts |
It is so nice to have have a good dealer, I was buying from ebay quite a bit till I found mine. Now I buy most everything from them! |
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Pillar of the Community
 United States
2269 Posts |
The first dealer I had closed his shop and retired. For the next couple of years I was in limbo until I discovered E-bay. I haven't had a bad experience yet, but I have to do my research before I make any purchases. The second dealer I went to was nothing but an ongoing bad experience. I watched him and his staff rip off inexperienced collectors either buying or selling. I had to finally stop dealing with them when I witnessed the owner paying $30.00 per ounce for pre 1964 silver coins, while the spot price was $43.00 an ounce. What mad it worse is his justification for paying less than spot. I know we all have had our bad experiences with dealers, but there are definitely some honest dealers out there.
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Pillar of the Community
Canada
2781 Posts |
out right ripping people off just because they are inexperienced is a shame, but with a fair share of the responsibility having to be on the customer as well - if you are rich enough to buy something for double what it's worth without knowing what you are buying then... well...maybe you should have spent 30 seconds on your phone googling the item  when buying silver when it's at $43, the dealer would have been foolish to think it wasn't going to come back down (to a whole lot closer to what he paid). I dunno... people can shop their stuff around or open a newspaper to see what silver is worth on any given day. the customer got cash, and the dealer was the one taking the risk (that dealer obviously/wisely padded the transaction to remove the risk) not saying there arent shady dealers out there, but every dealer has rent, employees, utilities, and taxes to pay, probably have kids to feed and might want to retire one day... |
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Bedrock of the Community
United States
10045 Posts |
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I watched him and his staff rip off inexperienced collectors either buying or selling. I've met a few of these types--they are a quick read and easy to avoid. As SuperDave noted, collector loyalty is worth much more than a few bucks up front. |
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Pillar of the Community
United States
2269 Posts |
I just found it hard to stomach how an inexperienced collector or casual buyer was usually taken for a ride. Education is a key to collecting, but so is finding a decent dealer to do business with.
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Pillar of the Community
Canada
3692 Posts |
Silver's very volatile. What did you expect?
Edited by Libertad
05/13/2012 4:59 pm
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Bedrock of the Community
United States
10045 Posts |
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I just found it hard to stomach how an inexperienced collector or casual buyer was usually taken for a ride. Spider--I know it, some dealers burn beginners. Back when I was a kid, I picked a few older S-mint Lincoln cents from a dealer's bargain bin. The dealer looked at them, decided they were too valuable, and with a sleight of hand, they disappeared from the counter. From then on, I looked at dealers with distrust--until I met a few good ones. |
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Valued Member
United States
138 Posts |
There are some folks/dealers that you just do not want to deal with, and then there are others who are a pleasure to deal with. Yet somehow the ones we complain about still remain in business
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Pillar of the Community
United States
3283 Posts |
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Silver's very volatile. What did you expect?
My B&M dealer gives 80-90% of spot. He told me it depends on the amount of the transaction, obviously small deals get a lower percentage. He checks spot throughout the day. Most importantly he is very up front about what spot is at that moment (has a wall street web site up) and lets every customer know what spot is and what his margin is. He only sells to his melter once a week and says sometimes he makes money on that and sometimes he gets burned. He also told me he used to hold sometimes when the price went lower to recoup losses but found that to be a fools games, so he just sells once or twice a week depending on volume. He has great deals on collector coins and is very honest, he always drops his price down from listed price. If anyone needs an honest coin guy in central New York, he's on old Liverpool road in Syracuse. Great guy and his name is Mark. (no affiliation with me) |
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Pillar of the Community
Canada
1192 Posts |
It is nice to know there are some good ones out there!
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Pillar of the Community
United States
1227 Posts |
This is good to hear! Hopefully he sticks around.
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Replies: 19 / Views: 3,488 |
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First Page
Posted 05/12/2012 12:44 am
