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Ive Started Spending Proof Dollars. Coin Shop Pays Less Than Face Value.

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Author Previous TopicReplies: 17 / Views: 4,074Next Topic Page 2 of 2
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United States
3843 Posts
 Posted 05/06/2016  7:15 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list
Well you've learned that you need to research ( ebay completed auctions, heritage, stacks) the items you're interested in before you buy. Many collectors do this before buying to gauge the resale market in case they need to sell down the road. If the dealer wants too much don't buy it in the first place. There are big margins in the coin business, not unlike many industries. Modern coins that have been hyped up by big marketers aren't good investments.
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United States
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 Posted 05/06/2016  7:20 pm  Show Profile   Bookmark this reply Add coinlover1899 to your friends list

Quote:
sell em on ebay for full $$




Valued Member
United States
449 Posts
 Posted 05/06/2016  7:35 pm  Show Profile   Bookmark this reply Add RCook to your friends list

Quote:
ive started breaking open presidential proof dollars and start spending them. why? because coin shops offer me less than face value for them. well thats dumb I rather spend them for face. anyways this are problem proof coins,smudges,toned etc. mintproducts offer me $3.50 for the $4.00 face value proof set? why will I sell for less than face? State Quarters also they offer me $1.00 for the 50 state proof quarters sets. the face value is $1.25. So it seems the proof coins are worth less than face value. How is that possible or legal. sell a $1 for 0.75


Got any 2012 proof Presidential dollars you want to sell? None of the coins are worth less than face value, they're just trying to buy them for less than face.
Edited by RCook
05/06/2016 7:39 pm
Bedrock of the Community
United States
20753 Posts
 Posted 05/06/2016  9:01 pm  Show Profile   Bookmark this reply Add just carl to your friends list
Put on ebay and list as highly unusual, fantastic original, stunning PROOF coins.
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 Posted 05/06/2016  11:02 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list
I'll give you face value plus shipping and give them away to kids.
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 Posted 05/07/2016  12:55 am  Show Profile   Bookmark this reply Add Hello There to your friends list

Quote:
I'll give you face value plus shipping and give them away to kids.


I'm kids
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 Posted 05/07/2016  09:23 am  Show Profile   Bookmark this reply Add BStrauss3 to your friends list
'Kids' must be shorter than 4' 6"
-----Burton
50+ year / Life / Emeritus ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club
Owned by three cats and a wife of 40+ years (joined 1983)

Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/
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United States
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 Posted 05/07/2016  10:04 am  Show Profile   Bookmark this reply Add Hello There to your friends list

Quote:
Kids' must be shorter than 4' 6"


A step stool wouldn't help me than
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 Posted 05/07/2016  10:06 am  Show Profile   Bookmark this reply Add Cascade to your friends list
Didn't know you were a "hightest" Burton
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 Posted 05/07/2016  10:40 am  Show Profile   Bookmark this reply Add BStrauss3 to your friends list
No, but a photo was posted of Hello There at the Elgin coin club meeting - he's got to be 6' 3"
-----Burton
50+ year / Life / Emeritus ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club
Owned by three cats and a wife of 40+ years (joined 1983)

Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/
Pillar of the Community
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7390 Posts
 Posted 05/07/2016  11:53 am  Show Profile   Bookmark this reply Add Cascade to your friends list
Almost as tall as me
Pillar of the Community
Canada
5238 Posts
 Posted 05/07/2016  12:50 pm  Show Profile   Bookmark this reply Add oriole to your friends list
@Alvaro77, rather obviously the dealer does not need or want those proof coins.

While there is nothing illegal about offering less than face, it seems like a poor business practice to make such an offer.

My LCS advises its customers to just spend the ones that are only worth face value.
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United States
354 Posts
 Posted 05/07/2016  8:04 pm  Show Profile   Bookmark this reply Add YNumismetals Collector to your friends list
I'm a kid! Short and proud.
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United States
1191 Posts
 Posted 05/07/2016  8:17 pm  Show Profile   Bookmark this reply Add Hello There to your friends list

Quote:
he's got to be 6' 3"


I don't measure age by hight, I'm young at heart
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Russian Federation
5172 Posts
 Posted 05/07/2016  8:33 pm  Show Profile   Bookmark this reply Add january1may to your friends list

Quote:
'Kids' must be shorter than 4' 6"

4' 6" is like 137 centimeters, right? Then this means my younger brother hadn't been a kid since age 8 or so.
Now, at age 10, he's more like 5' 1".

(i wasn't able to make him especially interested in coins, incidentally. But then again, I wasn't that interested at his age either.)
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