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 Replies: 22 / Views: 3,677 |
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Pillar of the Community
United States
500 Posts |
I started back into coin collecting a couple years ago and was a bit unpleasantly surprised at the amount of gouging by most sellers. Whether on ebay or at shops or even shows a lot of dealers ask and want much higher than RETAIL for their coins. No wonder they whine about so little business and such. I know many have a "caveat emptor" attitude about the subject but I find it ridiculous that so many price at above "retail list" that haggling isn't even viable - like more than what NGC/PCGS/numismatics list on their sites ( which are for slabbed/graded and again RETAIL prices ). So it is refreshing to find a couple online dealers who IMO do not get ridiculous and are also willing to haggle a little on top of decent pricing from the start. I just wish they had bigger inventories to sell from. Two of my favs are Northern Nevada Coin and Harlan J Berk. NNC often list coins at reasonable prices compared to others and ebay etc., particularly gold coins. HJB is willing to haggle pretty reasonably, in my experiences. I've also found decent bargains at cheapslabs here and there. Anyone else find online dealers they recommend? So darn many gouge it really is refreshing to find those few that don't! www.brokencc.com ( NNC ) www.harlanjberk.com ( HJB ) www.cheapslabs.com ( cheapslabs ) Happy Hunting all!  |
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Pillar of the Community
United States
3111 Posts |
Harlan J Berk has a brick and mortar location here in downtown Chicago. Actually just about a block away from where I work. Been there and dealt directly with them and have always found them willing to deal some.
Amazing shop, long and narrow but with display windows running down the length of the building at street level. Talk about fun window shopping!
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Valued Member
United States
134 Posts |
Harlan J. Berk also has a wonderful library and resource center up on the 13th floor of the building. From what I understand, it is open to the public. You have to check with an employee inside the shop to access it.
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Pillar of the Community
United States
1211 Posts |
Something is only worth what a person is willing to pay.
I don't know how you can be so certain that collectibles, like coins, can have a "set in stone" retail price.
If any item is priced incorrectly, the market will respond accordingly.
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Bedrock of the Community
13014 Posts |
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I don't know how you can be so certain that collectibles, like coins, can have a "set in stone" retail price. I have to agree with that especially for hard to find items. A price guide can say something is worth so and so but if theyre impossible to find good luck coming anywhere close to the guide |
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Pillar of the Community
United Kingdom
856 Posts |
Retail? Not sure what you mean. Here in the UK there's the 'retail' price according to say, The Royal Mint shop (which IMHO considerably overvalues their 'stock'). For modern coins there's face value. But for everything else ... Quote:
Something is only worth what a person is willing to pay.
I don't know how you can be so certain that collectibles, like coins, can have a "set in stone" retail price.
If any item is priced incorrectly, the market will respond accordingly. ^ That. |
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Valued Member
United Kingdom
152 Posts |
RE H J Berk Never been to shop but back I bought from them a collection of 900 Mexican coins all housed in Dansco/Whitman folders cost me $650 USD which was a steal.Still have 95% of the coins,took 4 months by sea mail/surface post to arrive (UK). Not insured no tracking just boxed in a small wooden box.Sold about 8 coins on ebay back in 2001 - 2002 for over $300 USD and 1 token for over $100. I wish you could get deals like that now yours Michael PS I sent cash to HJ no paypal then |
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Pillar of the Community
 United States
500 Posts |
I'd agree for rare coins. But let's face it, 99.9% of collectors are not into the high $$$$ and rare coin buying and selling. So, for that 99.9% saying the market is "whatever" is moot and daft.
IMO, most consider the BID on greysheet as wholesale and the prices online as akin to retail. In fact, NGC and PCGS also have wholesale "prices" but they don't show them to the general public. Sure nothing is perfect or "set in stone". But there is a market and for most coins that most people deal in the price ranges aren't that wacky or nebulous.
See, IMO, the YMMV stuff is used to "rationalize" gouging and trying to rip off the novice. Coins aren't perishable items with a short shelf-life, so acting like the market will always adjust is just not applicable.
It is a bit like the "I paid more than that for it" speil. The fact that you got ripped off doesn't mean squat to me or the current market value of the coin now. Think of it like bullion. If you bought when the value was high that doesn't mean I will pay more when it is worth a lot less now! The same dealers who gouge then offer way less than wholesale to buy the same product! IMO. it is greed and the "pawn margin" mentality.
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Bedrock of the Community
13014 Posts |
For common dates your right but anything other than that guides are just a ballpark. Coins arent created equal and wont sell for the same prices even if graded as some look better than others or appeal to your taste in look, some like toned some dont. ebay prices are definitely considered retail by a lot of people now. If they only buy according to greysheet bid prices unless they own a store they wont be doing a lot of buying |
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Valued Member
United States
59 Posts |
I use to have a small sporting business in a shopping center. I don't know how the coin guys do it. My rent was $2500.00, other cost. Insurance, taxes, utilities, restocking, and (employee payroll if any). My overhead was $8000.00 a month. I just cant figure how you can do this with coins? Just Me.
Thanks Biged
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Valued Member
United States
359 Posts |
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HJB is willing to haggle pretty reasonably, in my experiences I have bought a few items from them online. Good prices decent selection. I haven't haggle prices. What was done to haggle with them on online items Buffalo's Rock? |
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Pillar of the Community
United States
1839 Posts |
It's all about supply and demand. Some dealers that set what you would call a "high" price on a coin will have several options. If nobody is willing to pay the "high" price then eventually they'll likely lower the price until it meets demand and the coin will sell. Some dealers are content to let their inventory age a bit and wait until someone comes along and purchases at that "high" price but it's pretty hard to stay in business for long with that kind of business model.
In my opinion very few dealers is gouging anyone in this industry. It's not like anyone has a monopoly and the public must buy their product which is the definition of gouging by most standards. If a price is too high in your option don't buy. If enough people feel the same as you the dealer will have to wise up or risk failing.
It's really that simple.
As to your list of dealers that offer reasonable prices and are willing to haggle, that's great. And they are probably working on slim margins and perhaps high volume. It's a business model that a fair amount of dealers choose to take and that's certainly good for a large group of coin collectors.
I'd list a few of my personal favorites but then I'd just have more competition depleting their inventory and who wants that ;)
Cheers!
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Pillar of the Community
United States
500 Posts |
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What was done to haggle with them on online items Buffalo's Rock? I actually ran across them via Collector's Corner which is set up to allow buyers to email offers on coins listed there. But I have found that many will haggle directly via email as well. Just send them an email with your offer and see if they accept it. At the very least, I offer something less than 3% lower than their website list price and offer to send them a check - it saves them the 3% cc processing fee so they are usually willing to lower their price by at least the 3%. |
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Pillar of the Community
United States
500 Posts |
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I'd list a few of my personal favorites but then I'd just have more competition depleting their inventory and who wants that ;)
This is where we completely disagree! IMO, we should share such info as it will mean the "good ones" get more business and thus are able to keep offering reasonable prices to all due to higher volume etc. The idea being to support that business model over the rest! |
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Pillar of the Community
United States
1839 Posts |
@BuffalosRock That was just my feeble attempt to be funny. I tend to find myself going back to these guys on a regular basis:
- pinnacle-rarities.com
- aprci.com
- davidlawrence.com
- harlanjberk.com
- typecoincompany.com
- disruptek.com
- indiancent.com
- legacyrarecoin.com
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Bedrock of the Community
United States
20753 Posts |
However, remember for every good story about a certain dealer, there are possibly many more not so good stories. Usually people that get taken, don't brag about it or menetion it again. Most like to brag about the good deals from a certain place, dealer, store, but when not so good, not much is said. I've heard just as many good deals from H.J.B. as some really horible deals. Unless you know yourself, for sure, about good deals from anyone, it is all just a chance.
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Replies: 22 / Views: 3,677 |
Posted 04/19/2013 12:51 pm
