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 Replies: 19 / Views: 3,656 |
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Bedrock of the Community
13014 Posts |
Check out numismedia.com. If you have a phone with internet you can use it in the shop as ball park figures on things which may help eliminate some things without having to ask the price. The other thing you can do is ask about coins in groups. For instance "What bust halfs do you have in the 100 dollar range".
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Pillar of the Community
Canada
5417 Posts |
 to CCF! Also this is common among dealers as a volatile market forces them to change prices frequently and this makes them lose money on supplies like 2x2's. |
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Pillar of the Community
United States
2543 Posts |
My LCS does the same thing, for the reasons CB said. It is a little intimidating to newbies, but they are very friendly, don't mind showing bunches of coins and are very willing to tell you why one coin is one price and another similar coin is a completely different price.
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Valued Member
United States
250 Posts |
My LCS has prices on everything but they're good with negotiating some with. They all have codes written on the backs though, I figure that its code for what they paid, is there any rhyme or reason to the codes the dealers use or is it whatever they make up?
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Pillar of the Community
United States
1391 Posts |
kevro22: it is also a common practice amongst book stores. You pick a word or phrase with at least ten letters, match the letters to the numbers, and make your prices there. A lot of people add in extra letters (ones not assigned values) to throw off people trying to decode the price paid.
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Valued Member
United States
250 Posts |
Thanks Allranger I figured that's what it was.
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Pillar of the Community
United States
1554 Posts |
Get used to asking the price. Also get used to making counter offers. A lot of dealers don't mark their prices on the front of their coins anymore for a variety of reasons. Bring your pricing guides with you and also practice grading the coins you like before you go to make a purchase. It will take you time to learn grading, buying, etc.
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Pillar of the Community
United States
5208 Posts |
Quote:
They all have codes written on the backs though, I figure that its code for what they paid, is there any rhyme or reason to the codes the dealers use or is it whatever they make up? I found a seller at a local show last year (Jade Rare Coins who has / had a banner ad on the site here) and got to talking to him and he said he bought estates etc but also had bank teller that would call him when they got a score. He said one time he got a call from a teller and $12K later he had a ton of coins. Anywho I was looking for a Seated dollar for my 7070 all of his coins were in 2X2's and he had prices on them but he said that is what he paid for them and had a predetermined profit margin he needed to get. It didn't appear that any of the coins I looked at had been cherry picked and I guess if as a seller you can clear 20% over what you paid for anything nowadays you are doing good. Hopefully he will be at this years show so I can pick up a Seated dollar for a pocket piece. |
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Valued Member
United States
250 Posts |
For all you dealers reading this, I love trying to solve puzzles etc so that was my thought regarding the reasoning for the codes not so I could take advantage of knowing a cost - just rereading this and didn't want to offend anyone. Thanks
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Bedrock of the Community
United States
11951 Posts |
Many of the LCS I go to put the date and grade, but no price.
With the date and grade, you should be able to get a price range they are
selling the coin for.
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Pillar of the Community
United States
8137 Posts |
My LCS puts no prices on things like junk silver. Also to CCF! |
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Bedrock of the Community
United States
20753 Posts |
I go to about 5 different coin stores and 2 to 4 coin shows a Month. As a general rule if no prices are shown, I just walk away. Most dealers I know that have no prices on items usually go by how you look as to their prices. If you look to them like you can pay big, they give you a high price. You look broke or just not wanting to buy big, they; give you a lower price. Also, this gives them the ability to haggle back and forth with you on the prices. I've tried this a few times. Ask a dealer how much for something. Then with a friend, have them ask the same delaer about the same ocin. Almos talways, a different price. Like I said, no prices on anything, I just walk away. |
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Pillar of the Community
Canada
2124 Posts |
There're no excuses to not have the prices updated, not all the items are made of silver and gold.
I know a dealer that put a code in every item and he has a price list where you've to look for the code and the updated price. So the dealer has just to keep update the price list.
I agree with some posts, if I don't see prices I can ask 1 or 2 items but more than that I walk away.
But, if many dealers are making money like this, good for them.
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Bedrock of the Community
United Kingdom
17969 Posts |
Most of the coin shops I know in the UK display their better coins in trays, and there is usually a white paper disc under the coin with the price on - the coin almost always covers the price so you have to ask the dealer! I am sure they do this deliberately, but I do find it annoying, especially when the dealer is taking a long time serving another customer and I am looking at trays under the glass-topped counter but don't know if I can afford anything...  Edited by NumisRob
12/31/2013 05:31 am
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Valued Member
United States
477 Posts |
Yes, being a one year collector I also find it frustrating when no prices are marked. Sure I'll ask but that gets old fast, especially when there's other customers in the store. And seeing the price posted let's me know whether or not I am interested in any particular coin. If I see a nice Morgan for $39 I might be interested but if I see one marked $399 I wouldn't be the least bit interested.
No prices are fine for those who have much experience and are shopping for a specific coin and know the value of it but for somebody who doesn't know what they want and are just "window shopping" marking prices would be a huge help. How many coins were not sold because the potential buyer didn't want to appear ignorant by not knowing the value or doesn't want to continually have to ask price of this, price of that.
Rick
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Posted 12/29/2013 7:21 pm
