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Replies: 29 / Views: 2,523 |
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Bedrock of the Community
United States
12057 Posts |
Considering Red Book prices are for problem-free coins, and most Large Cents and Half Cents are not problem-free, I think you're getting hosed. However, Red Book prices also don't usually take into consideration Sheldon/Newcomb/Cohen varieties, either, many of which command substantial premiums (although not usually in G4-VG8 range!)
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis
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Valued Member
 United States
134 Posts |
It is Rusty I'm doing business with, Vermontensium. The other I like is Northern Nevada Coin, which has a shop also in Carson City and Mindon-Gardnerville.
Edited by centsdimes 08/29/2015 7:49 pm
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Moderator
 United States
16677 Posts |
I'm not sure. He specializes in CC issues and is a leading expert on them. I don't remember seeing too much old copper in his shop.
I know the area quite well but live in Southern Cal. Been a while since I've been up there.
swcoin.ecrater.com
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Valued Member
 United States
134 Posts |
He is a contributor to the Red Book. He has a lot of Carson City silver dollars for sale. He gives you personal service.
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Pillar of the Community
United States
4897 Posts |
Without seeing decent pics of the coins in question it is impossible to valuate them. If however, regardless of his credentials, he is saying, common, average circulation Large Cents (g-vg) are worth more than Red Book "value".....I would have to respectfully disagree.
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Moderator
 United States
16677 Posts |
I have to agree with amida17. I don't know what he's going off of but I use combo of greysheet/numismedia (guides only) and auction results on higher graded coins. In your case, see what G-VG coins hammer at on ebay and there you go. Of course rarer Sheldon varieties will command a premium for those that collect all the S #'s.
swcoin.ecrater.com
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Valued Member
 United States
134 Posts |
There are eight dates involved, and he is high on all eight, so I don't think the varieties are rare. Three are Matrons, three braided hair, a classic head, and a draped bust.
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Pillar of the Community
United States
3843 Posts |
Quite a few big name dealers seem to be holding out for very high retail prices. I don't understand it since their credentials don't enhance the coin itself. Sometimes it seems that better deals are off the well traveled path at lesser dealers and shops.
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Moderator
 United States
16677 Posts |
Walk away. There are tons of these out there. The only ones that are hard and carry a premium for it, would be problem free nice planchet Classic Heads.
swcoin.ecrater.com
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Valued Member
 United States
134 Posts |
Again, thanks for your opinions, everybody.
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Bedrock of the Community
United States
12057 Posts |
I used to interact with some high net worth (>$1m liquid) clients of the company I work for, years ago. One day, I asked one of my boss's clients (whose net was probably >$3m) what his secrets were to growing that kind of money in the bank, me being a college kid and permanently broke. His answer was really pretty simple: don't spend it unwisely. Be patient, look for the best opportunity, and do your research before you invest your money. That's it. I've found that approach to work with coins: know what you want, know about what you want, know what you should pay for it, and then wait for the right opportunity.
Of course, if you can afford it, sometimes the occasional impulse buy is nice, too. :)
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis
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Bedrock of the Community
United States
20753 Posts |
Using the Red Book for prices is rather like thinking a used car salesperson is honest. Although I do use one for prices but it is a 2010 edition. The main problem with the Red Book prices are for some reason they are way, way overly done. Usually enough that a 5 year old version is more reliable in prices. IF that dealer uses a 2015 or 2016 edition, and his prices exceed that, you may as well just throw your money away. If you could ever find a coin show, I think you'ld be amazed at how much cheaper you could find those.
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Pillar of the Community
United States
3112 Posts |
Not a dealer I'd want to do business with...
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Bedrock of the Community
United States
12057 Posts |
<- Former used car salesperson. 100% dishonest. Err. Honest. Yeah, that's it ;) Typo there.
The buyers were at least as "honest" as we were: "No, it was never in a wreck." "Yeah, I did all the maintenance." "No, it's problem free." "I don't have any money for a down payment." "I can only afford $300 per month." "I can get a better deal somewhere else." "My trade-in's worth way more than what you're offering me."
I worked for a fairly reputable dealer with some semblance of ethical standards; but I've heard the horror stories (and experienced one or two myself). We never threw anyone's keys on the roof or parked their trade-in 2 blocks away, or told someone we had a car but "we just sold it before you got here", that kind of junk.
Of course, with most of your business (= your income) coming from referrals and repeat buyers, being dishonest with your customers guarantees a severe shortage of customers before long. You might get them once, but they'll never buy anything from you again, and they'll tell everyone they know how dishonest you are, and most people know a lot of other people. ;)
Same thing with coin dealers: You can take advantage of most buyers once, and some buyers twice, but very few for a third time. And if you get to "third time" repeatedly, you'll probably be out of business really, really soon, and justly so.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis
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Replies: 29 / Views: 2,523 |