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 Replies: 85 / Views: 9,278 |
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Pillar of the Community
United States
8516 Posts |
DV..... What coin shop ?
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Bedrock of the Community
United States
10045 Posts |
These are mostly purchases made at coin shows.
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Pillar of the Community
United States
2335 Posts |
I don't see any problem with buying a variety that the dealer doesn't recognize. The first Snow-16 FEC I bought came from a show. When I told the dealer I wanted to buy he asked me if I had noticed the die break on the wing. I had noticed it but at the time I didn't know it was a Snow variety. I just thought it looked cool.
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Bedrock of the Community
13014 Posts |
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So then what turns someone from a nice collector to that horrorible, nasty, dishonest dealer? As a general rule my guess would be the need to pay the bills. With internet sales the ones who arent on the internet and the smaller shops seem to be having the hardest time. The larger dealers I have dealt with have seemed to be the most honest because they can be. A lot depends on the individual, but when you start struggling to pay the bills or make money taking advantage of a situation becomes a lot more tempting. |
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Pillar of the Community
Canada
986 Posts |
I bought a 1917-D Buffalo nickel from a dealer's junk box for 85 cents. The retail price for it was $120. Did I feel guilty? Not in the least. I didn't spend an hour sifting through his junk box so I could point out his mistakes to him. He's supposed to be the expert and if he's too lazy or careless to properly price his coins then too bad for him. On the other hand, had I been looking through a coin collection that belonged to a poor widow's late husband, a lady who didn't know the first thing about a coins value, then I would have pointed out immediately that she had a rare coin. |
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New Member
United States
25 Posts |
I hope this is the right place to post this question as it seems a logical one to ask on this topic to me. If you are new to collecting as I am, and know absolutely nothing about the value of coins, and I go to a coin show to purchase some coins for my starter collection. How do I know if a dealer is honest or ripping me off? Should I research just one type of coin and only buy those? After reading this I am certainly scared to purchase anything.
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Bedrock of the Community
13014 Posts |
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I hope this is the right place to post this question as it seems a logical one to ask on this topic to me. If you are new to collecting as I am, and know absolutely nothing about the value of coins, and I go to a coin show to purchase some coins for my starter collection. How do I know if a dealer is honest or ripping me off? Should I research just one type of coin and only buy those? After reading this I am certainly scared to purchase anything. Theres several things you can do to prevent this from happening. Keep in mind not every coin of the same grade is worth the same amount as some are better than others but you can get a ballpark idea. You can ask about some coins here for a price range. You can check ebay for listings and what they sold for. You can check price websites and write it down or print it out and bring with you. You can also look around at the show and see if other dealers have the same coins and what their prices are. Usually if you can find some similar coins you can pick out which dealers have their stuff over priced. Remember you can also try and bargain with the listed prices the dealers have if theyre open to it. You could probably just ask some other dealers too if you found a coin you liked what they think a fair price would be for it. Hope this helps |
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New Member
United States
25 Posts |
yes this helps ty. But I am in no way a threat to hurting the dealers profit margin LOL. I Think I will start with pennies because they will be the cheapest and not because I cant afford more expensive coins, but because it will be the safest to me right now. I wouldnt know a good deal if it landed on my head. I really need to seek out other collectors in my area and maybe see if they wouldn't mind going to a show with me or taking me to a coin shop. Right now all I have been doing is roll hunting for silver cause I dont kjnow what to look for other than that..
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Bedrock of the Community
13014 Posts |
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yes this helps ty. But I am in no way a threat to hurting the dealers profit margin LOL. I Think I will start with pennies because they will be the cheapest and not because I cant afford more expensive coins, but because it will be the safest to me right now. I wouldnt know a good deal if it landed on my head. I really need to seek out other collectors in my area and maybe see if they wouldn't mind going to a show with me or taking me to a coin shop. Right now all I have been doing is roll hunting for silver cause I dont kjnow what to look for other than that..
If your really worried about dealing with dealers I would suggest using ebay or ordering from dealers online. Real easy to price check before you make the purchase. For good dealers you can order anything, for ebay I would stick to slabbed coins |
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New Member
United States
25 Posts |
thank you for the advice much appreciated. I am not trying to make money, not gonna resale. I just dont want to be holding on to a coin for 20 years to pass on to my son only for him to find out that is fake. I guess i'll just order mint sets and and keep trying to learn what are good coins to collect from you guys. But back on the subject here I think that someone who is the coin business should be educated on what hes selling and be fair and not take advantage of people. However this is a dog eat dog world and if they can get away with cheating someone out of a dollar they will, just my experience in all of my business dealings. The buyer should also educate themselves to prevent being ripped off, and will also take advantage of the seller if he is able to. I would have to lean towards my idea in business get the best deal you can but dont be dishonest in your dealings because what comes around goes around.
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Bedrock of the Community
United States
20753 Posts |
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If you are new to collecting as I am, and know absolutely nothing about the value of coins, and I go to a coin show to purchase some coins for my starter collection. How do I know if a dealer is honest or ripping me off? Should I research just one type of coin and only buy those? When and if you go to a coin show do the following: 1. Make sure you tell each dealer that you know nothing about coins. 2. Hold lots of hundred dollar bills in your hands. 3. Carry a Red Book, lots of papers with coin info on them. 4. Have a sign stating I am going to buy anything today. 5. Ask dealers if they are honest of crooks. All just kidding you know. Make sure you know what you want and the approximate prices of those. And no matter what anyone says, remember that a coin show is nothing but a specialized flea market. Haggling prices is normal. Look around before you buy. Check out the top of this page for the Search Tab and type in coin shows. |
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Bedrock of the Community
13014 Posts |
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And no matter what anyone says, remember that a coin show is nothing but a specialized flea market. Exactly, just like gun shows it doesn't mean everything will be a deal or their will be any deals at all. Its just a large inventory in one place |
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New Member
United States
39 Posts |
In this case I probably wouldn't have said anything. If its the difference between a rarity I may have said something.
But here is where your relationship with the coin shop makes a difference. At my local coin shop in Miami, unless your carrying a sack of silver/gold over your shoulder, no one pays attention to you. I go in asking about high grade gold coins and they ignore me. They're only interested in the low hanging fruit. So at my shop, I would try to bring the rarity to someones attention, but because I didn't come in with a sack of gold, no one will listen......so I would buy it at $1.00.
I remember when coin shops were fun to go to........
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Valued Member
United States
397 Posts |
@Simonsays: I wish I had gotten into coin collecting early enough to know those times.
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Pillar of the Community
United States
3755 Posts |
Honestly, I only read the first page. But here is my answer. There are two or three dealers I would alert each and every time. I have a great relationship with them, and would they have never jerked me around. Otherwise, all bets are off.
VACookey likes the SBAs. I ordered her a 79 Type 1. We got it and lo and behold, its a type 2. I surely did NOT email that dealer and say hey, you sent me the expensive one, let me pay you the extra. And I would not expect someone to do that if I did the same thing.
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Replies: 85 / Views: 9,278 |
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Posted 06/01/2012 2:21 pm
