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 Replies: 81 / Views: 9,066 |
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New Member
United States
16 Posts |
SO when you see prices from " (124) This link is not allowed by the Staff " or other sources on the web, what does that price represent and who gets that price? If I'm seeing 14 times face as value, and coin dealers are offering so much less than what they're supposedly worth, why would anyone sell to them except if you're desperate? How does a seller cash his stash in? Where do coin dealers cash their stashes in and why couldn't I go to the same place as they do?
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Valued Member
United States
220 Posts |
"There are no guarantees that any coins can eventually be sold at a profit, no matter how desirable they may be. Coin collecting should be viewed as a hobby, not as a sure-fire investment." by Kenneth Bressett's book entitled "The Whitman Guide to Coin Collecting."
By reading these previous discussions, I am sure that I will keep coin collection as my hobby and not my investment. I do enjoy sharing the story behind my coins with my children, wife, and friends.
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Valued Member
United States
171 Posts |
I HATE dealers! One time I called a dealer to see what I could buy a 1921D Mercury dime for. "I have one in FA-2 condition, son",he replied. Now, I hate being called "son", and I didn't want a FA-2 coin, but I asked him how much it was. "Son, I'll sell it to you for $60",he replied. "FAIR 2?",I fairly yelled. "YOU'VE GOT TO BE KIDDING! FOR TEN BUCKS MORE I CAN GET A VERY GOOD!" Then, the arrogant jerk told me <<Please do not bypass the bad word filter!>> and hung up. Those guys are total bloodsuckers and they rape you with their prices. Maybe you could sell those silver dollars on ebay. The people on there usually don't know what they're doing and will give you a good or sometimes even great price. Good luck. - coincrazed |
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Valued Member
United States
436 Posts |
Hate to say it, but if I was a dealer, and you called me and didn't like the price, fine. Just say thanks but no. If someone called me, didn't like the price, and yelled like you did, I'd have a hard time being civilized also. You reap what you sow, remember.
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Valued Member
United States
171 Posts |
Well Hippiebrian, I personally think if you were a coin dealer, unless you are dishonest-which I don't think you are-you wouldn't price a FA-2 coin for such a price. Also, Remember the old saying "The customer is always right." A seller should never get smart with a buyer like that, know matter what. I'm the buyer he's the seller. Good luck. - coincrazed
Edited by The return of Coincrazed
12/05/2009 3:01 pm
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Locked
822 Posts |
Quote:
Also, Remember the old saying "The customer is always right." Sorry but no, the customer is not always right. Far from it. |
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Pillar of the Community
United States
2521 Posts |
Quote:
Also, Remember the old saying "The customer is always right. That was in the good old days when a retailer solely relied on the customers in the community! (and was usually followed by "even when they are wrong" A good retailer would bend over backwards to keep their customers happy...and returning. As suggested by another member that "customers are NOT always right" goes to show you how times have changed. With the availability of just about anything you can imagine over the internet and an endless supply of customers....there seems to be very little emphasis on customer service and satisfaction. As a side note...If I were a dealer and you started yelling at me over the phone for no good reason, I probably would have done the same thing this guy did! |
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Valued Member
United States
171 Posts |
Don't get sore, Ratman. It was a good reason. The guy was a cheat! A FA-2 1921D Mercury dime for $60? A G-4 is worth $35 and a VG-8 is worth $75! And plus, it is very rude to say "Get your head out of your a$$." How DARE he do that! But, my man, I am not trying to argue with you, just trying to get you to see my side of the story. Anways, good luck and happy hunting. - coincrazed |
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Pillar of the Community
United States
2669 Posts |
A seller who tells a customer to pull their head out of a dark place has already lost the customer service touch. There are a few better ways to handle things like that.
You would think, as mentioned by ratman, with all the availability of the internet... that customer service would become a priority. I could buy something anywhere, but I will buy from a seller who has some manners and is nice. I'm not over-demanding - I just don't want to be treated like an idiot.
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New Member
United States
16 Posts |
So is there an answer as to where one goes to get the correct bullion prices? Where do the dealers take their bullion to get the "real" price?
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Pillar of the Community
United States
2335 Posts |
If you live in a large enough city there is probably someone that buys bullion at slightly under spot. If you want to get close to spot & live in a small town you either ship to a refiner or sell to an individual.
Unless you are buying/selling large quantities of precious metals you don't do business at spot. That's one of the reasons it's hard to make the case for metals as an investment. You pay 3-5% more than spot when you buy & receive 3-5% less than spot when you sell. That means prices have to rise between 6-10% to put you at the break even point.
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Pillar of the Community
United States
505 Posts |
Go here to get accurate melt values of coins...scroll down towards bottom
(124) This link is not allowed by the Staff .com
Oh well I tried!!
Edited by Frazzle
12/06/2009 5:02 pm
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Valued Member
United States
245 Posts |
For giggles, I took in few AU $5 Liberty Head coins yesterday to see what they would offer me. They said $250ea spot and I scooped them up and put them in my pocket. A lady was next to me selling AU $20 St. G and they were quoting her spot too. You think they would of got ticked if I said something to the lady ;-)
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Valued Member
United States
220 Posts |
It's very sad to find out that coin dealers will only pay at the spot for gold coins or silver bullion coins. Does it mean that a person (coin collection as a hobby) should not collect gold coins or silver bullion coins (including junk silver - circulated Morgan dollars) if he/she may want to sell the coins during financial crisis? I bought several American silver eagles and other world bullion coins (China Panda, Canada maple leaf) and paid a premium for these bullion coins. I also bought some Silver eagles slabbed by the PCGS (PR69DCAM) with moderate premium. (The price of a PCGS slabbed silver eagle is much higher than the silver spot price for coins sold at ebay.) It seems that I will be offered at the silver spot price for these PCGS slabbed coins and world silver bullion coins. |
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Valued Member
United States
245 Posts |
"It's very sad to find out that coin dealers will only pay at the spot for gold coins or silver bullion coins."
I don't expect much from a coin shop when in reality they are only dressed up as Pawn / Bullion shops anyway.
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Posted 12/04/2009 11:55 pm
