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 Replies: 18 / Views: 2,803 |
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Pillar of the Community
United States
3843 Posts |
Where Does The Collector Have The Most Leverage When Negotiating The Purchase Of Coins?Brick & Mortar Coin Shops Coin Shows Auctions (Heritage, Stacks-Bowers, etc.) ebay & Similar Venues Pawn Shops/Antique Shops A few of my thoughts ....... Brick & Mortar Coin Shops: Pros - Can befriend the dealer and possibly get a break on prices if you are a regular or it is something that they would wholesale out. Cons - possibly not as much competition in the local area, if they don't sell it to you for the price they will hang on to it until they eventually sell it to someone else at their asking price. Coin Shows: Pros - Lots of competition between the dealers for collector $$$ and large selection. If the price is too high you might find it at another booth for less. Cons - Dealers have considerable expenses setting up at shows including airfare, table fees, hotels, food, etc. and they undoubtedly pass those costs to the consumer. Auctions (Heritage, Stacks-Bowers, etc.): Pros - On a more even platform with dealers when bidding on coins. Vast selection, previous prices realized are widely known. Cons - Bidding against a large number of potential buyers and the buyer's premiums, shipping charges on these auctions are steep. eBay & Similar Venues: Pros - Massive numbers of collections are disbursed on these sites every year. Some good deals slip through the cracks due to the large numbers of sellers. No buyer's premium as with above. Cons - - Large numbers of scammers of every possible type, lots of coins with problems being sold as problem free, and a massive number of potential competing bidders. Pawn Shops/Antique Shops: Pros - Potentially some cherry picks to be had since these outlets may not have extensive knowledge. Cons - may have unrealistic prices on the items they are selling. What are your thoughts? Where does the collector have the most leverage in purchasing numismatic items at a fair price?
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Bedrock of the Community
Australia
21786 Posts |
In terms of leverage, I don't think very much about WHERE I might buy. In this regard, the most important question I ask myself is: 'How much is this coin being offered for?' Over four decades, I have built my collection from a very wide range of different sources, except from ebay. I really like to see 'in hand' what I am considering to buy, and that has nothing to do with leverage. |
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Pillar of the Community
Australia
7096 Posts |
I recently bought 9 gold sovereigns and a few other nice coins and I got a discount after I had dickered on the price of the sovereigns because of the amount of coins I bought at the same time.
Buying bulk seems to work for me.
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Rest in Peace
United States
18456 Posts |
Offering cash at a coin show. Really when it comes to coins you can negotiate almost everywhere except ( auctions heritage, stacks-bowers, etc. )and the mint.
In my opinion there is no SET IN STONE price on coins especially circulated ones.
you , the buyer has the leverage.
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Moderator
 United States
187702 Posts |
Nice analysis.  I chose coin shows. Setup costs aside, many of them prefer leaving without most of what what they brought. |
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Pillar of the Community
United States
4468 Posts |
The buyer leverage comes from using all the options you noted to purchase coins and buying the coin at your price point and quality.
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Moderator
United States
23522 Posts |
The collector has leverage - massive leverage - when he knows what he wants and has the expertise to accurately evaluate and price what he's looking at. The greatest of the considerable wisdom presented in the initial post is that there are so many outlets for coins these days, so many different coins visible to the average buyer, that there is no reason not to settle on exactly what you want at the exact price you wish. All you need is patience while you find that coin.
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Pillar of the Community
United States
604 Posts |
Quote:
Really when it comes to coins you can negotiate almost everywhere except ( auctions heritage, stacks-bowers, etc. )and the mint.
In my opinion there is no SET IN STONE price on coins especially circulated ones.
you , the buyer has the leverage.  Quote:
there is no reason not to settle on exactly what you want at the exact price you wish. All you need is patience while you find that coin. Not much more I can add to that other than patience is hard to keep especially when you get that "itch" |
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Bedrock of the Community
United States
20753 Posts |
I still think nothing beats a coin show. You see exactly what is there and if you don't like the prices, just move to the next seller. Unlike anything on the internet, no postage, no handling, no wrong coin sent, no insurances, just the coins at a show.
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Bedrock of the Community
United States
94367 Posts |
Leverage can mean different things, but I would agree that knowledge is the greatest leverage of all. If you know more about your field/series than the seller, you can spot the mistakes/oversights and not have to worry so much about price.
Edited by Coinfrog
08/10/2015 6:02 pm
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Moderator
United States
23522 Posts |
I will say, Carl, if I could do 100% of my trading in a show environment I absolutely would. Large numbers of coins all in one place, competition for everything, and human interaction with eventual proof that the vast majority of us are solid people to deal with. And cash talks. Can't beat the combination.  |
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Pillar of the Community
 United States
3843 Posts |
Thanks for the insightful comments everyone! I'd like to add that for very common items such as proof sets and modern commemoratives, ebay is very hard to beat. When there are dozens of identical listings of an item at one time the price seems to be competitive. The coin dealers I've dealt with cannot match the prices that ebay sellers sell at on very common items. |
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Moderator
United States
187702 Posts |
Quote:
I will say, Carl, if I could do 100% of my trading in a show environment I absolutely would. With exception to US Mint products... For the last fourteen years I have bought exclusively at shows, since it has been that long since I visited a LCS. About five years before that I bought my last coin through mail order and I have never purchased one over the internet. Again, this excludes US Mint purchases.  |
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Moderator
United States
23522 Posts |
I'm just working to keep my opinion of Mint products out of the thread....  |
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Bedrock of the Community
Australia
21786 Posts |
A couple of years ago gold was very under represented in trout1105's collection.
I see that, that has now been corrected.
Best of British luck to you, fella!
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Pillar of the Community
Australia
7096 Posts |
Quote:
A couple of years ago gold was very under represented in trout1105's collection.
I see that, that has now been corrected.
Best of British luck to you, fella!
I picked up 9 sovereigns and a half ounce 4 ducat restrike gold proof, The sovs cost me 10% over melt and I got the ducat at melt. Maybe it was my kind face (  ) or it was the fist full of fifties I was carrying that got me a nice deal Cash IS King |
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Replies: 18 / Views: 2,803 |
Posted 08/09/2015 11:14 pm
