Do Coin Dealers... ?

Dealers will buy and sell to dealers for many reasons...

I bought a beautiful banknote from one dealer at a discount, repriced it to what it should be selling for, placed it in my display case and sold it in all of about 30 minutes.

The other dealer got what he wanted for it and so did I.

I will also discount to other dealers, but not by much as I price my coins fairly low anyway... BUT sometime you still have to pay the table fee and buy gas to get back home.

That's why some dealers have runners, I sometimes do it. They send them to buy or sell a coin, and they usually either get paid a commission or a flat rate.

Not many dealers want to do that though, you have to build trust up first, I suppose.

At our coin shows we too have the dealer who can't seem to stay at their own table, always out trying to sniff out a good deal.

We let them wonder and if they miss out on a sale, that's their business.... if something comes up missing, they get very upset that someone stoled a coin or two.

I give all the dealers who attend our show a letter stating that the organization is not responsible for lost or stolen items and that they need to watch or have a partner to watch their goods.

It never fails though that someone will come up to me and tell me that they are missing something and want me to find the person or the item.... I ask them if they want the cops called.

Coin Show Rule#4: You are responsible for your merchandise at your table.

If you ask a neighbor table to watch your stuff and they get busy selling their own stuff.... who is responsible for your table?