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Replies: 16 / Views: 2,606 |
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Valued Member
United States
160 Posts |
I am looking for a particular variety of a Trade dollar. I see some every so often online, but there are only a 100 or so of this variety around. Instead of having to buy the coin off the internet I am toying with the idea of having a dealer hunt one for me, with the thought that a dealer would come across more over time and be able to get a bit better coin for me. My questions are: 1) Has anyone done something similar for a hard to find coin? 2) If I asked a dealer to locate a specific coin, in a specific grade, do they just buy it and charge a fee? How do they make their profit? 3) Would you speak with a local dealer (there are about 3 decent size dealers where I live), or find a dealer somewhere in the country that specializes in the series I am looking at? Thanks
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Valued Member
United States
337 Posts |
I'm sure a dealer would do this for you and you would probably have to give him a price range you would pay for a certain coin that way he can make some money for himself. The only way I could see you getting him to take less profit if you were a regular to his shop and buy a good amount of coins. If you buy things from him on the regular he may not even charge as a way to keep you happy and continuing to buy from him.
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Pillar of the Community
United States
7187 Posts |
You may also want to ask here. With a few more posts you will be eligible to purchase from members. What variety of Trade dollar are you looking for?
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Valued Member
 United States
160 Posts |
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Pillar of the Community
 United States
4589 Posts |
If the dealer acts as an agent, you should expect to pay a fee. If they buy it and resell it to you, they may also make $ on the spread. Both are perfectly acceptable types of arrangements, but you should make sure to nail down the terms ahead of time.
Price range Dealer compensation Specifics of what you want (slabbed/raw, grade, etc.)
You can also create on-line want lists at the major auction houses (such as Heritage or Stacks) and be notified if one goes up for sale.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/
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Pillar of the Community
United States
3486 Posts |
I can speak to the arrangement that I have with my dealer. I am looking for high grade Barber dimes. I gave him a list of what I was looking for. If he sees an example that he feels is suitable to add to his inventory he will buy it. Then he hangs onto it until I can examine the coin. I am under no obligation to buy it. If I want the coin but do not have the funds a small deposit will hold it. He will accept my check, trades and cash. We have a mutual level of trust and that is worth it to me. And I do not begrudge him making a profit.
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Moderator
 United States
23522 Posts |
That's how numismatics has worked in the US for two hundred years, and how a large majority of higher-end collectors still do today. You give the dealer an idea of your needs and price range - in your case, developing a new relationship - you'll want to be pretty specific regarding grade and "look" - and the dealer will find & offer you a coin at a specific price. You won't know what he paid. He may do it on a commission basis for a one-time customer, or desire other conditions, but this is definitely a viable proposition for you. You might need to look around to find an appropriate dealer for this one; it's not a standard B&M stocking item, to say the least, and it might take a specialty dealer to have the connections to find one.
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Valued Member
 United States
160 Posts |
I was thinking a commission % might make sense on this one. Does anyone know of any dealers that specialize in Trade dollars, or TD varieties?
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Pillar of the Community
United States
3540 Posts |
Check some of my "Know your dealer......" posts.
I am landlocked from any type of coin shops, so I depend on the internet and two different dealers.
One of the dealers, I have never met in person, and probably never will. But, we have conversed over several coins and knows what I prefer in several series....including price.
Bring some coins in from the same series that you have collected already. Include good and lesser examples of what you find acceptable in terms of condition (not grade, but overall condition).
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Pillar of the Community
United States
3540 Posts |
Another SUPER side benefit, you just may find yourself in position of being the first to pick from new to the dealer coins. The 1935 P/D/S in MS66 PCGS were specifically purchased at FUN for me...see the thread (I suck at photographing coins...). https://goccf.com/t/167657
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Pillar of the Community
 United States
4589 Posts |
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/
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Pillar of the Community
United States
3486 Posts |
You nailed it, aclogo. I bring my dimes with me to show to the dealer. He then tells me his opinion as to whether or not the coin that he found will 'fit.' So far, they do! I'll add that telling the dealer your preferences also helps. I go for: 1) Strike 2) Eye appeal 3) Toned or not does not matter. Just points 1 and 2.
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Valued Member
United States
498 Posts |
I'm actually opening a store on the first of the month. If a customer asked me to find a specific Trade dollar I would have to charge a fee for my time. But it would be small because I would make the other dealer kick in too. If you have a PayPal account anyone can help you but your going to want to be referred. What are you looking for specifically. My name is Mike as in Mikey07nj. If you check mikey07nj on ebay back In may 2012 I sold a 16/16 Buffalo nickel for $7,000, now if your talking a $500.00 use PayPal . It happened that the dealer that bought the 17/16 was local or I would have flown to complete the deal as it was all profit. Tough coin as they are one of the most counterfited coins around even in the 1800s. As they were minted specifically for trade in the orient. My number is 862 354-2651. If you have questions
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Pillar of the Community
United States
7840 Posts |
Edited by oih82w8 01/21/2014 5:34 pm
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Bedrock of the Community
United States
20753 Posts |
What I've found over many years of going to coin shows is some dealers will do anything for you and others, nothing. Some tell me to just go looking myself, others write down what I need or want and say they'll look. If you go to the same store and/or coin show a lot, many dealers get to know you. If you constantly talk to a dealer at shows, they seldom remember if you ever bought from them or not. Then if you say I need a xxxx, could you see if you could find one for me? Usually, as I said, they'll write it down and ssy sure, why not. And if you do make a purchase once in a while, even if small, they think of you as a steady cusomer so that too helps. Looking for certain coins I've done that many times. It sometimes amazes me when a dealer sees me and says, no luck finding that xxxx for you yet. But still looking. Coming in really handy soon I hope. One dealer has been looking for a 1916D FSB Mercury dime for me for a reasonable price. Supposedly in Feb, at a coin show, he'll have it for me. In reply, YES, I ask dealers all the time for certain coins. Many dealers at coin shows travel all over and could possibly find almost anything your looking for. Always pays to just ASK.
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Pillar of the Community
United States
1554 Posts |
Your question is a no brainer, that's what most dealers do, look for coins that their customers want. It may take some time, but a good dealer will find exactly what you want. Good luck!
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Replies: 16 / Views: 2,606 |