Negotiating With Dealers And Some Coin Values

Well to put things into perspective, this coin would've slabbed AU53 which while technically is only aEF, equates to most retail EFs: http://www.noble.com.au/auctions/lot/?id=304601

I was an under-bidder on this lot, it was under-graded and under-estimated but alas I wasn't the only one to spot it. It went for about $1250 net. That's probably what your dealer paid so keep that in mind when negotiating.

The 1915-H florin is a common coin (at least relative to the 1915-H shilling) in VF but they're usually overgraded as they show more band detail than other dates of the same grade. I try not to give tips on the needed detail for each grade (as every coin is different) but a typical 1915-H will have the full centre diamond at the VF level and is worth about $250 retail, $150 wholesale.

So how would you grade this one?

The first thing I do is decide whether I was going for a deal or whether I was shopping and expecting to pay retail.

Then I do my research. For instance lets say I was in the market for a slabbed "X" coin by PCGS in MS65. I would look at my Completed listings on ebay ( love it or hate it, it is the largest segment of the market). I would note that the selling prices of the same coin were between $80 and $100, with several on sale now with a $90 BIN.

Now when I go to a show I know I can get that coin retail for no more than $90, and with some hunting for as low as $80.

But at the show I find that all the dealers want $150 for the same coin.

If I am shopping for a deal, then I pass on all of them as none of them are going to give me a deal below low retail.

If I am shopping retail and just want to look at the coin in hand before I buy, then I set a price at my common median price of $90.

Now they want $150, and I want $90. Don't worry about insulting them as they are insulting you by asking waaaaay over retail ( And I say this as a dealer. I do mark mine up somewhat because I know I will be talked down, but not by 66 percent!)

I offer them $70, and tell them the truth; that there are X number of these for sale right now on ebay with BIN of $90. A few will tell you to just go buy it on ebay. Many will laugh and start talking.

My firm rule is that I never go over my max price by more than a buck or two.

If the price is not posted then go 50 percent below the price you want, hoping they will counter with a price 50 percent over the price you want; and hope you end up in the middle. But remember, be polite and friendly at all times.

I have mentally added 10 percent...or more to rude customers. And I have deducted as much as 20 percent to some very nice and pleasant customers. I do tend to give a working person, or beginning collector a break on my commons.

Good Luck!

Hey stevo nice coin to be honest I would have to guess aEF or EF or prehaps a weak strike in that case aUNC? But gee stevo you have quite the luck with the shillings now aren't you

Yeah I've opted for aEF as the last 2 pearls are still quite
prominent.I was lucky enough to pick this one up from the UK
last year for $300 and it's got to be worth double that

I'll go along with enworb, honest injun. Although I think I tend to overdo it so I probably would have said aEF.

Hey, omf I tried to access your photobucket but couldn't get near it. When I click the link it always takes me to my page.

No worries I'll keep an eye out for it, we both seem to like shillings and florins (then again who wouldn't).