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 Replies: 44 / Views: 6,532 |
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Valued Member
United States
160 Posts |
Is there a particular online site that most of you use to get Canadian coin prices, one that accurately reflects actual up to date values in the marketplace? Thanks!
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Pillar of the Community
Canada
3049 Posts |
most people here use http://www.coinsandcanada.com .... but for common items 60-80% of those prices listed.... the site is helpful in that it will also post actual ebay sales.. |
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Valued Member
Canada
495 Posts |
Good luck! Its a shame that we don't really have a source to reference for values other than what ebay realized and a few reputable online services that require a lot of digging. I have been putting together a list of my collection to sell and its a lot of work, not hard to understand when we see the "counter dump" at LCS when ol Joe's collection is sold for next to nothing. The task can be daunting to the uneducated. I don't have any faith in Trends as a source but I find it amusing when on a few occasions I have bought from LCS they have Trends at the ready to reference prices but when I have attempted to sell coins to them I get the "well, we are a business blah blah have to make e living so can only offer you 40-50% of a Trend price." Something not right about this game and for anyone thinking it is an investment better give your head a good shake. |
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Pillar of the Community
Canada
695 Posts |
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Pillar of the Community
Canada
5324 Posts |
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Pillar of the Community
 Canada
5589 Posts |
You cna use Trends (full retail) to get an idea of a somewhat inflated value, but know that, if you shop around, you can buy most anything but the scarce ones for 70-75% of Trands. As Macdon said, you are lucky to get 50% of Trends if you are selling. Trends is the insert into the Canadian Coin News suggested above and is used as a reference (again ful full retail) by most everyone..
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Valued Member
 United States
160 Posts |
You are so right macdon, but it been this way for as long as I have been collecting coins (40 yrs). I do understand dealers who have shops needing to make a fair profit on resell, but only giving you 50% current value is robbery, period. There is no way any dealer can justify that kind of profit to me. And as long as collectors keep giving away their hard earned coin collections, nothing is going to change. As they so often say, collect for the love of it, not to make money.
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Pillar of the Community
Canada
1747 Posts |
ok, obviously, no one has ever been in business or can even count.
if trends value is $100, and you say you can easily buy at say $75
Most retail shops to stay in business need at BARE minimum 30% profit
the same coin at 30% profit margin would mean the buyer would need to purchase it at $52.50 (roughly 50% trends)
But say he could not actually sell it for $75 but had to sell for $70 or less then he is not even covering expenses.
I get the fact that people want the most $$ for their coin, but they came to an established business to sell a coin to someone who has to resell it to pay to keep the doors open.
If you think you can sell it for more money then do it on the bay or craiglist Don't berate the owners because they cannot give you a retail price for a coin.
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Pillar of the Community
Canada
4227 Posts |
 with ace_ftw. The margins with coin shops constantly amaze me. No other retail space can get by with margins less than 40% that I know of. I don't buy at 100% book ever, so if I get a coin at 75% book (which I rarely pay either) and that seller has paid 50%, there's not much room there considering most can't move all that much material --- it isn't Walmart. |
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Pillar of the Community
Canada
2187 Posts |
If using coinsandcanada, be careful with the George V small cent prices. Just my opinion, based on what is listed on the site and what I see on ebay or other auctions. |
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Pillar of the Community
United States
1285 Posts |
One other item of much importance: IF using coinsandcanada or the Canadian News trends--$ values are Canadian dollars and not U.S.; don't forget the exchange rate differential.
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Pillar of the Community
Canada
849 Posts |
I too agree with ace_ftw. I have been in retail (not coins). The other factor to consider is the cost of carrying inventory. Let us say there is coin A that trends at $100 and the dealer can never get more than $75 to $80 from a customer. You come in with a Coin A to sell and he offers you $45. You feel offended because you see trends at $100 or because you paid $110 for it five years ago or whatever.
What you might not know is that the dealer has ten of the identical grade coins in stock and has only sold one in the last five months. He might not even really want your coin for even $30 because it won't feed his family just sitting on the shelf. You are unhappy if he offers $45 but he is maybe not too unhappy if you say no as he can put that $45 towards another coin he is out of that is currently in demand.
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Valued Member
United States
160 Posts |
I'm sticking to what I said earlier, and agreeing with what macdon said also. For most people, numismatic coins should not be considered an investment, you should collect for the enjoyment of the hobby. That way you won't be so disappointed when it comes time to sell, if you ever do.
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Pillar of the Community
 Canada
5394 Posts |
According to my accountant and the CRA industry average , a reasonable gross profit margin for a retail coin or collectibles dealer ( yes they do track all industries ) is right around 30 to 33 per cent GROSS PROFIT.
Bottom line for a well run coin operation is 10 to 12 per cent NET Profit .
Tough way to make an easy living.
If a collector thinks they can get more than 45 to 50 per cent for properly graded certified Canadian coins, which is what Trends and Charltons are both based on you best try to sell it yourself and become a coin dealer.
It is a tough business ,not for the faint of heart or those without a retail business background.
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Pillar of the Community
Canada
2781 Posts |
ace_ftw  |
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Valued Member
Canada
276 Posts |
Edited by the_sifu
12/14/2015 7:55 pm
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Replies: 44 / Views: 6,532 |
Posted 12/13/2015 12:52 pm
