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I Really Don't Like Por Ads

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oih82w8's Avatar
United States
7840 Posts
 Posted 04/16/2012  9:25 pm Show Profile   Bookmark this topic Add oih82w8 to your friends list Get a Link to this Message Number of Subscribers
I was browsing through the latest Coin World on-line version and found a full page color ad for three prestigious coins; 1884CC Proof66 Cameo Morgan dollar , 1889-CC MS68 Morgan dollar and an 1876-CC MS65 Twenty Cent Piece . All had the POR (Price on Request) monikers. Why do some of the Coin Retailers do that? I have heard "if you have to ask, you can't afford it", so why should we have to ask? Are they going to pull a credit report to see if we are worthy of their time? Is there a cover charge to enter their establishment? Or is by appointment only? Hopefully I am not alone in this.
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Fuzzy317's Avatar
United States
14463 Posts
 Posted 04/16/2012  9:36 pm  Show Profile   Bookmark this reply Add Fuzzy317 to your friends list Get a Link to this Reply
for the most part. I don't like items with POR, but I can understand it. With spot PM on a roller-coaster, a price posted would be out of date by the time the ink is dry.
Pillar of the Community
United States
759 Posts
 Posted 04/16/2012  9:45 pm  Show Profile   Bookmark this reply Add OneBowl to your friends list Get a Link to this Reply
I suspect one reason would be to initiate customer contact. Sure, they risk some calls from those that may be just plain curious, but a sales person (and whoever answers is at least part that) gets real time contact with some potential customers with means. Maybe you don't buy the advertised coin, but they get to market their other inventory and most likely come away with your contact information. So it's one example of a high end marketing channel, which they'll probably call their "client assistance program."
Valued Member
United States
223 Posts
 Posted 04/16/2012  10:22 pm  Show Profile   Bookmark this reply Add COMET to your friends list Get a Link to this Reply
Perhaps they want to quote the highest price it sold for recently? Most people just ignore ads with POR.
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Scropper's Avatar
United States
702 Posts
 Posted 04/17/2012  12:09 am  Show Profile   Bookmark this reply Add Scropper to your friends list Get a Link to this Reply
Indeed, it's my belief it's all about initiating customer contact. By asking the customer to contact you, you're putting yourself in the driver's seat. The customer will only call if they are really interested.

Once the seller posts the price of the coin, the seller is at a disadvantage because

a) the buyer can then shop that price around and find a better deal, thus not bothering to call,
b) they can shop it around, call and say, "but I found it here for less" (total waste of the seller's time who replies, "so go buy it there", and
c) once the buyer has bothered to call, the seller can say, "ah we have it listed for $1000 but we've had it listed for that price for some time. Tell you what, I'll give it to you for $950 so we can clear it out and get more capital to invest" and the seller looks like a hero. Unless the buyer knows grey sheet on the thing is $850.
d) the point of the ads is not to sell out immediately, but to get more customer relationships, get more names, e-mail addresses, phone numbers and credit cards on file. When they list the sale price, even if it's high, a buyer can call in and say "I'll take it", and is more likely to. Then you have disappointed customers who call in to find the coin gone.
e) I suspect sometimes when sellers do this, they have an inventory of similar stuff. "Ah, that one was sold, but I have a very nice one a point higher for this much if you're interested".

In other words, it puts the seller in the driver's seat and gives them a lot more options with serious buyers.

After all that, I don't like it either! I like seeing a number.

But if you want to shop coins, there are plenty of auctions and price guides available to know what a coin should cost.
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westcoin's Avatar
United States
9792 Posts
 Posted 04/17/2012  02:46 am  Show Profile   Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Scropper is right on the money with his comments. I only ever put a POR on coins in my 1980's price lists where there wasn't too many known sales at the time, I was dealing in some outstanding Morgans that I had priced in the stratosphere when compared to a common unc coin back then, I usually got my asking price or more in trades once the buyer got to see the the coin in hand. (Way before TPG companies), I had a line on DMPL ms66 and 67 dollars by todays standards, mostly common date S and O mints for the most part. But when I sold one there was always a buzz at the show that people couldn't believe I got a $1000.00 for a coin that listed at $150.00. Cherrypicking from a good source allowed me to have some really choice pieces, sure wish I could buy them back at the prices I sold them for today! They are probably around $7k-35K now days. A few were so cameoed people used to mistake them for Proof coins.
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Peter4805's Avatar
Canada
987 Posts
 Posted 04/21/2012  12:50 am  Show Profile   Bookmark this reply Add Peter4805 to your friends list Get a Link to this Reply
I find the POR ads annoying as well
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