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 Replies: 35 / Views: 4,809 |
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Bedrock of the Community
United States
11951 Posts |
Interesting discussion...
I am with the cash group ... ..
But I have only bought a few coins over $1000 ... $2000 would be
an amount that would be very hard for me to spend on a coin.
Taking $1000 to $1500 cash to a coin show would not bother me ..
When buying ... cash is king
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Pillar of the Community
 United States
4085 Posts |
Quote:
But I have only bought a few coins over $1000 ... $2000 would be
an amount that would be very hard for me to spend on a coin.
Me too. But, as Tony Montana says, "ifa you wanna finisha da Lincoln seta ina redabrowna uncirculata, you a gonna haffa spend da money". Yes, I have been cooking turkeys all day so my mind is a little shot. |
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Pillar of the Community
United States
4085 Posts |
Quote:
I have had in my pocket at a couple of shows over $25K. Boom! That was my head exploding at this idea. That's some serious cash to haul around. That's got to be a stack of hundreds several inches think. |
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Pillar of the Community
United States
757 Posts |
Quote:
Boom! That was my head exploding at this idea. That's some serious cash to haul around. That's got to be a stack of hundreds several inches think. You would be surprised at how compact a fresh stack of banded hundreds actually are. A banded stack of 25K is only about an inch thick. |
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Pillar of the Community
United States
509 Posts |
I know this isn't the direction the thread is aiming for, but what would be easier to be stolen/misplaced at a coin show:
a stack of 25 x 100 dollar bills or a small envelope with an expensive coin? I've been in a LCS before and seen older gentlemen buying the same coin they bought the week before bc they misplaced it. Also, witnessed another guy let his friend hold his purchase bc the time he couldn't find the envelope and ripped apart the house looking for it to later find it sitting in his glove box. Ok, enough drifting off topic.
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Pillar of the Community
United States
1119 Posts |
Heck, I've been in one LCS where I agreed to buy a coin, dealer set it a side and we couldn't find it fifteen minutes later when I was finished browsing and went to pay. had to buy it the next week after it was located again.
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Bedrock of the Community
United States
20753 Posts |
At all the shows I go to I've only found one dealer that would take check. So far I've never found a dealer that would take a credit or debit card. It is a bit frightening when I see people with large bundles of cash at a show. If I see them, so do a lot of others. Although all the shows I go to have one of more security people around, I still wonder about on the way home.
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Pillar of the Community
United States
4211 Posts |
@ jbuck. Yes you are right about the debit card. I should have mentioned I know this dealer and have bought several coins from him over the last 5 years. No... I would not use my debit card with a dealer I did not have an established relationship with. Thanks for looking out for us!  |
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Pillar of the Community
United States
6394 Posts |
Last month a dealer at our local show quoted me an attractive price for a 1-ounce platinum eagle. I continued to shop and spent my cash elsewhere. I went back and told the first guy I still was interested and he readily accepted my Discover card for payment. Charged me the same cash price, too!  |
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Pillar of the Community
Canada
5246 Posts |
Further to @ace_ftw, in Canada, cheques are not used so readily, as I believe the rules for dealing with bad cheques are quite different.
So far, if I do not have enough cash on me I go to one of the local cash machines, and so far I have never had to do anything else. I have even got substantial US cash during my travels, although there is always a premium you have to pay.
Obviously this would not work for amounts exceeding the withdrawal limit for cash machines.
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Pillar of the Community
 United States
4593 Posts |
In many shows, from small club to the ANA I've only seen a few dealers advertising credit card acceptance using Square (et al). If the dealer sells on ebay s/he typically can accept cards, albeit sometimes reluctantly (or 'oh, I forgot the device'). Usually the fee (4%) gets passed on to the buyer. I've seen lots more dealers take a check either because they know the buyer or get a reference from another dealer... "yeah, I know that guy. He's a bum for not buying from me, but his check is good" in fact the better known the buyer the more insulting the reference. For the rest of us, cash is king. And avoids the fees. -----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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Moderator
 Canada
10460 Posts |
I have been on the other side of the table... I have been able to help folks nervous with carrying cash through a few different options, or folks who just ran out of cash, and want to get a coin they know they won't find easily. 1. If the buyer has a smart phone and a PayPal account, then I do this. I send a PayPal invoice to the buyers email address. He then pays for the invoice, I take a photo of my coin with both my iPhone and the buyer's phone with the PayPal screens on the phone (to protect myself via refund scams). Then, with the funds in my PayPal account, the buyer takes home the new coin. 2. I have the Square, to accept credit cards on my iPhone. https://squareup.com/ca/reader (frankly, as we move into a digital age, more coin dealers should use this). 3. If I know the collector, they take the coin, and they pay me when they can... (for trusted buyers and friends). I once sold a coin for $10,000 to someone who just took the coin home. A week later, a certified cheque arrived in the mail. "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Moderator
United States
189340 Posts |
Excellent insight, SPP-Ottawa. |
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Bedrock of the Community
United States
17884 Posts |
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At all the shows I go to I've only found one dealer that would take check. Amazing, I've never found one that wouldn't take one. |
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Pillar of the Community
Norway
1358 Posts |
Here almost all dealers have either a mobile payment card terminal and they accept cash. Some would accept a receipt from a mobile bank transaction as well (if you transfer the money there and then). But then again we're in the part of the world where, according to some, cash is hated and society is going cashless.  |
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Posted 11/23/2016 8:40 pm
