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Bad Luck With Coin Deals Lately

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shadowtrooper78's Avatar
United States
1370 Posts
 Posted 04/16/2013  7:12 pm Show Profile   Bookmark this topic Add shadowtrooper78 to your friends list Get a Link to this Message Number of Subscribers
As many of you have seen in a post below this I had a poor experience with an ebay seller and poor business practices. Well time to add insult to injury with a totally separate incident. One of my local B&M stores also sells on ebay. He has an 1866 Shield nickel graded AU 58 lightly cleaned DDO. He listed this coin on ebay and had it returned because the attribution was incorrect. Which I will give him credit for disclosing that. I asked him what he wanted for it, wasn't a bad example and the cleaning was not apparent, he chimed in at $250 which I thought was ridiculous money for the coin. Looked the coin up on ebay completed auctions. it sold for $130 based on the DDO....are my expectations too high? or does this seem ridiculous, especially since I've given him quite a bit of business in the past.
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basebal21's Avatar
13014 Posts
 Posted 04/16/2013  8:17 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Personally I think thinks like this happen more than people admit. He probably was trying to get every penny possible out of you. To be fair he may not have expected it to go that low or really know the prices for that series. I dont really know him so I cant say if thats his common practice or an unusual event.

That said ebay is a funny animal some thing go way high some go way low. Its hard to beat their prices on a lot of things though since they have to compete with everyone else selling the same things. If a coin store has one of something and if you want it you have to pay what they want but on ebay likely someone else if not many other people will list something similar
Edited by basebal21
04/16/2013 8:18 pm
Valued Member
Fatman's Avatar
United States
362 Posts
 Posted 04/16/2013  8:19 pm  Show Profile   Bookmark this reply Add Fatman to your friends list Get a Link to this Reply
Talk to him and find out what he has in it. If you and he can't come to an agreement, let him keep it. Just remind him of how much business you've done with him and his potential yearly loss in revenue. If all fails, just keep on shopping on the various auction sites for a far more agreeably priced/graded coin.
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 04/16/2013  9:04 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
In this instance, my gut tells me he's simply overvalued the coin in his head as opposed to any malicious intent.
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shadowtrooper78's Avatar
United States
1370 Posts
 Posted 04/16/2013  10:35 pm  Show Profile   Bookmark this reply Add shadowtrooper78 to your friends list Get a Link to this Reply
@Superdave I agree, I think he's in the coin deep...buying it as a DDO and I have his "code" figured out on the back of his coins gives me an idea of how much he has in them. But sometimes even as dealers you've gotta cut your losses. This won't cost him any of my future business....I guess I felt the need to rant a little more....one of those days. I guess having sold it on ebay at $130 and it being returned at that price he would have realized the market a bit better. He mentioned the guy that bought it was well versed in Shield nickels and had written a book about them. And he stated that it was not a DDO.

All that being said he's a great guy....sometimes wants way too much for some coinage....the sad thing is I believe he's on his way out....slowly liquidating his stock, I believe this is why he started selling on the bay
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BamaBlue's Avatar
United States
624 Posts
 Posted 04/18/2013  12:19 pm  Show Profile   Bookmark this reply Add BamaBlue to your friends list Get a Link to this Reply
I agree with giving the dealer the benefit of the doubt. In a random, but related thought your post made me reflect on ebay and it's effect on coin dealers/coin shops. ebay has certainly increased the visibility and general availability of coins to a broader audience. That's a positive, but it's pushed the coin shops to the brink of extinction. Virtual coin shops pay a hefty fee to their ebay Uberlords, but it's a lot less than overhead for a brick and mortar shop. I still like the ability to walk into a coin shop and talk about coins, but the selection is limited to the physical confines of the shop (and it'll cost more -- on average). That personal touch is dying and I'd be willing to bet that there are some younger coin collectors who have never or rarely walked into a brick and mortar coin shop. I know things change, but it doesn't mean they always change for the best...
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upstate's Avatar
United States
3283 Posts
 Posted 04/18/2013  8:17 pm  Show Profile   Bookmark this reply Add upstate to your friends list Get a Link to this Reply
So I guess your not comfortable with just offering $130 since you know that is what it sold for (and telling him that).
He'll actually come out ahead considering ebay fees. I've always been one to just put it out there.
Speak your mind, be honest, things usually work out for the best.
If anything he'll have more respect for you bacause it is just business.
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