How Do Dealers Do It?

There are a couple of local dealers here in Australia, and a couple in the US I know online (like joelscoins and diggafromdover) that always seem to have plenty of brand-new, unc world coins and sets of world coins on offer. I've also gotten the same vague answers when asking about their sources. A whole bunch of identical sets of BU coins isn't going to come from the random pocketings of returning travellers or tourists. Dealers with that kind of stock usually have a specialist source.

I suspect these mysterious "guys" are overseas, and probably deal in bulk world coinage, by ordering bulk bags direct from the mints or banks in the countries involved. Good journalists protect their sources, good coin dealers do, too. And I can understand why. If you ordered your coins from the same "guy", he'd want to sell you coins by the kilogram, too. So you'd end up having to become a dealer, just to get rid of all the coins you wouldn't want. And most dealers aren't too keen on seeing more competition established, especially if the new competitor would be trying to sell more or less exactly what they're selling, to the same customer base.

I wouldn't try to press them too hard for more information, either. "Beware the advice of successful people. They do not seek company." - Dogbert.

I really cannot think of anyone else (anywhere), who is quite as knowledgeable about foreign coins and paper money as you are Sap.....I am very greatly impressed...

This causes me to wonder....what do you do in your off time? Do you wrestle crocs and and box with 'roos, or simply hang out with a large can of Fosters in each hand?

Once in my wandering through the internet I stumbled across an "educational" site that sold bulk uncirculated present day coins from many countries. The quantities had to be in 100's or 1000's to purchase.

Mietens in Germany carries about every world coin or paper note imaginable. You have to purchase from them wholesale quantities and pay by euro transfer.

When I used to work for a local dealer, I would either break up a world unc or proof set and sell individualy. I also cherrypicked world coins after collections would be aquired. I would go through 50lb bags of junk misc coins that were bought from large sorting and wrapping companies. Anything that was not worth booking would end up in a large open bin for customers to buy by the pound.

Exchange houses here and away don't like to receive back coins and thus many are stuck with something that might not be worth the expense and hassle to convert.

I wouldn't be surprized!

I have often wondered this myself!