Selling Coins You Do Not Have - Coin Community Forum

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Author	Replies: 4 / Views: 1,402
kg5 Valued Member Australia 491 Posts	Posted 07/12/2014 04:16 am So how many coin dealers are selling coins they do not have in hand? Some dealers are waiting for enough buyers to buy a particular coin before the dealer has the numbers to buy from the mint? How many dealers with the resent low prices have sold PM's coins but do not have the coins in hand? How many dealers are carrying the weight of PM's prices going up? So a health dealer supplies their coins within a week and other unhealthy dealers are not suppliers their coins after 2 or 3 months and looks like never? Report this Post to the Staff

Dino Valued Member United States 180 Posts	Posted 07/12/2014 09:25 am Sounds like a bad business model, after awhile it seems customers would get wise and move on. Report this Post to the Staff
kg5 Valued Member Australia 491 Posts	Posted 07/12/2014 5:45 pm Check out this guy. A pre seller caught out by a pre seller. What a mess! "I Pre-sold these coins, expected at the beginning of January at the latest, to my customers & now have to refund all the money & hope I don't get negative feedback. All I do is try my best to be a reputable seller & make an honest living dealing with the ridiculous fees ebay charges. In order to do that I need big margins & if I need to sell these coins again after refunding the customers that have already purchased the coin over 2 months ago & were promised the coin at the latest at the end of January are not going to be happy & too understanding. I sold them an item. I need to get it to them. I can't come with any excuses. Coins like these rapidly change value & can auction for $270 one week & then $200 the next few weeks & now go for about $135. I cannot make a profit buying the coins for $115 selling them for $135 after ebay, PayPal, & listing & shipping fees take off ~15% off all my sales." Report this Post to the Staff
Henry M Smith Valued Member United States 337 Posts	Posted 07/13/2014 02:05 am What is happening is sometimes a mint will have a delay. I order rom several mints, then place the coins for sale after getting them. Too many times have mints sent messages announcing delays. One coin was about a half year late. Production problems. I saw another mint delay because a supplier to them had not met their standards for a hologram. And many run out of silver blanks every time silver rises. We do not sell without having the coin, and I have seen people who offer the delayed coins on ebay. They have to have their feedback rating destroyed. always wait. It is the only safe way. Report this Post to the Staff
kg5 Valued Member Australia 491 Posts	Posted 07/13/2014 8:07 pm I can understand that a coin dealer having a lot of PM coins in stock could take a lot of their capital but that is the way the world works. But to sell coins you do not have is really asking for trouble. I have not come across this selling something that you do not have in hand, especially in collectables! It is like me putting up item for sale before I receive them and a good example is I have 15 items that will go up for sale at $175 each and for me to have them up for sale before I receive them..... even though I have payed for them. They could get lost in mailing! The seller could run out of stock! The items could be damaged or below selling standard!.....etc So why would you sell something you do not have in hand? Doing business like this is selling your credibility as a seller for nothing. And the emails.... Unbelievable Stuff! Edited by kg5 07/13/2014 8:08 pm Report this Post to the Staff
	Replies: 4 / Views: 1,402

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