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Customer Upset At Coin Shop Over His MS-70 Bullion Not Worth Much.

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Slamnbass's Avatar
United States
3644 Posts
 Posted 05/04/2016  6:18 pm  Show Profile   Bookmark this reply Add Slamnbass to your friends list Get a Link to this Reply
I totally agree
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Andrew99's Avatar
United States
1533 Posts
 Posted 05/06/2016  4:33 pm  Show Profile   Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
It is often presumed that if you own a shop that you should make an offer on anything that is presented to you. This is certainly true if you are the only shop in town. It should be ok to say "not for me". Offering bullion is maybe not the best way to handle this sort of thing, but if the LCS says "not for me", then the seller often has no other recourse at all. Most of the public has no idea how to find a show or sell a coin via the internet.
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BStrauss3's Avatar
United States
4593 Posts
 Posted 05/06/2016  7:29 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Sorry, I don't buy it - pun intended... if you can't resell it, don't buy it since it ties up your working capital and prevents you from buying things people want to buy.
-----Burton
50+ year / Life / Emeritus ANA member (joined 12/1/1973)
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Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/
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sel_69l's Avatar
Australia
21788 Posts
 Posted 05/07/2016  6:23 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
THe dealer is quite correct.

Inevitable dissapointment must come to those who think that modern MS70 bullion coins will have a significant value over the basic bullion value.
Almost all MS70 bullion coins have very little value over their bullion value. All of that (little) extra value is wasted on the return shipping fees and grading fees.

MS70 bullion coins will always remain common. By the vast number of them that have been made, that is what you should expect to happen.
This circumstance applies to almost every bullion coin issued by every country.

If you are buying bullion coins, always consider them in that that way, for their bullion value only, irrespective of their condition.
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Cascade's Avatar
United States
7390 Posts
 Posted 05/07/2016  7:50 pm  Show Profile   Bookmark this reply Add Cascade to your friends list Get a Link to this Reply
Sel, pre 2000 ASE's in top 3 ms70 slabs are quite rare and valuable.
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Conder101's Avatar
United States
17884 Posts
 Posted 05/09/2016  12:35 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
It is often presumed that if you own a shop that you should make an offer on anything that is presented to you. This is certainly true if you are the only shop in town.

I feel they should, but the offer on things they don't need will be VERY low because they are going to want to blow it out FAST, and they will probably move it out to another dealer well below wholesale just to get rid of it. (And many people will feel insulted by the lowball offer.)
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