The Woes Of Being A Coin Dealer ... Funny Story!

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ExoGuy Pillar of the Community United States 4416 Posts	Posted 10/29/2016 5:06 pm I just received a periodic email message from a pair of dealers who conducts monthly auctions. I've gotten some pleasing pieces from them in recent years. Their emails often begin with a personal, coin story. Here's the latest one that I found to be a hoot! Enjoy ... Rich got here before me, and opened the store. With my tea in hand, I sat down, booted up my computer, in attempt to get some work done before the typical Saturday morning insanity started. Before I could load the 4 different programs I need to get my work done, the doorbell rings. Checking the video camera monitor, I "buzz" in the customer. Mark: "Good morning, how can I help you?" Customer: "How much do you pay for old rare Buffalo nickels?" Mark: "It depends on the coin. For full date commons, $.35, part dates $.25, no dates $.12. If you have better grades or dates I will pay more." Customer: "That sounds sort of cheap." Mark: "Well, if you think that is cheap, I'll sell you full date commons at $.45, part dates at $.30, and no dates at $.15 each." Customer: "So you'll pay me $.45 for full dates?" Mark: "No, I'll sell you full dates at $.45 each. The $.10 difference is our profit, and how we stay in business. How many do you have?" Customer: "A bunch." Mark: "How many is a bunch?" Customer: "Like 20 coins." Mark: (Thinking to myself. 20 X $.10 each, potential total profit is $2.00. Not to mention 10 minutes of paperwork, as per our local town/county regulations, this transaction is going nowhere fast) "OK, for 20 full date Buffalo's, that comes to $7.00. Can I see the coins?" Customer: "Wait, you said $.45 each, so that comes out to $9.00." Mark: "$9.00 is what I will sell them to YOU for. $7.00 is what I will pay. That is based upon the coins, and it could be more if the dates of the condition warrants." Customer: "OK, I'll show them to you, if you will pay me $.45 each." Mark: "Let me see if I understand you. You want me to commit to pay $.45 cents each, which is what I sell them for, sight unseen?" Customer: "Yes." Mark: "I'll pass. Thanks for coming in." Customer: "You guys are a rip-offs." Mark: "Feel free to shop them around. I'll still pay $.35 for full dates. Have a nice day." The customer leaves, and I turn to Rich and he is shaking his head, laughing. Thanks for the sympathy, Rich. You can deal with him when he comes back. Sure enough, 2 hours later, guess who comes back in. Rich: "Can I help you?" Customer: "I have some Buffalo nickels for sale. The other guy told me he would pay $1.00 each for them." Rich: "He did? Let me get him for you. Rich: Mark, Your customer is back." Looking in the video monitor, I see who it is, and just getting rid of my migraine, I tell Rich that I'm busy, please help him (without laughing too hard under my breath). Rich: "Can I see the nickels?" Customer: "Only after you agree to pay $1.00 each." Rich: "Sorry, but we are not interested." Customer: "But the other guy said he'd pay $1.00 each." Rich: "You should have taken him up on the offer when he said that. Our offers are valid only until you hit the front door." Customer: "You guys are rip-offs." Rich: "Have a nice day." Rich: "Mark, get the bottle of Tequila. If this is any indication, it's going to be a long day." Mark: "We need another bottle, this one is just about done". ..... If any CCF members want to check out the company, here's a link .... https://www.acsb.com/catalog/ Edited by ExoGuy 10/29/2016 5:17 pm Report this Post to the Staff

crazyglue Valued Member United States 467 Posts	Posted 10/29/2016 5:20 pm That is TOO funny! Just when your migraine was starting to go away PS, you can PM me for my address on where you can send me an $80 check and I will send you two rolls of Buffalo nickels. They might even have dates, you can look when you get them! I mean, if you are giving him that deal, you should give it to me too. That is what you said, right, $1.00 each? Report this Post to the Staff
Coinfrog Bedrock of the Community United States 94367 Posts	Posted 10/29/2016 5:38 pm Just wonderful! Report this Post to the Staff
UltraRant Pillar of the Community Norway 1358 Posts	Posted 10/29/2016 6:15 pm This sounds like I should change my coin buying tactics. Just walk into any coin shop pretending to be selling the coin I actually want to buy, then hear how little they offer for it, then complain, then get a low price at which they sell and then change the subject to buying it instead. For the record, over here I could easily make a good profit on Buffalo nickels with dates if I could get them for $0.45 each. (Agreed, I am a total rip-off...) Anyway, oh my, when it comes to selling coin and stamp collections, somehow people just get dollar signs in their eyes and expect to get paid golden mountains for even the most common stuff... talking about greed and false expectations. Report this Post to the Staff
Hello There Pillar of the Community United States 1191 Posts	Posted 10/29/2016 7:16 pm Report this Post to the Staff
Spence Moderator United States 34408 Posts	Posted 10/29/2016 7:24 pm Thanks for sharing @exoguy! That was awesome. "If you climb a good tree, you get a push." -----Ghanaian proverb "The danger we all now face is distinguishing between what is authentic and what is performed." -----King Adz Report this Post to the Staff
TypeCoin971793 Pillar of the Community United States 6370 Posts	Posted 10/29/2016 7:53 pm He sounds deceitful, trying to confuse the dealers into paying a higher price. That tactic won't get you very far because coin dealers are some of the smartest people I know (although I know a few exceptions...). Report this Post to the Staff
ExoGuy Pillar of the Community United States 4416 Posts	Posted 10/29/2016 7:59 pm My pleasure, Spence. While it's funny in one regard, hilarious even, the flip-side is exactly why I'd never want to be a dealer ... half-wit customers! Even if you don't buy any coins from these guys, You can subscribe to their monthly blog. The list prices tend to be high, but the pics are good. I've won some cool pieces at about half the listing price. Report this Post to the Staff
Spence Moderator United States 34408 Posts	Posted 10/29/2016 8:17 pm @exoguy, yes interesting website--thanks for the recommendation. Lately, I've been mostly focusing on coins that are older than their world coins, but younger than their ancient coins. Not as much material out there. "If you climb a good tree, you get a push." -----Ghanaian proverb "The danger we all now face is distinguishing between what is authentic and what is performed." -----King Adz Report this Post to the Staff
jmkendall Pillar of the Community United States 1590 Posts	Posted 10/29/2016 8:37 pm I get customers like that all time. More common than you think. On the flip side is the following expericance: I was a newbie dealer, and the local b and m dealer had taken pity on me and helped me out from time to time. I used to go through his melt bag and pull coins out for melt plus 10 percent. One day, I'm sitting at a case going through the days purchases, when a guy comes in and also wants to sell Buffalo nickels. He argued with owner and he too wanted one dollar each. He said "I saw it on the internet" ( lol). Finally the owner real nicely tells him that he can sell them for a quarter a piece. On his way out he asked me if I wanted to buy them. I look at the owner and he nods and goes back to his reading. I aske to see them and as he told the owner, I had to pay for them before I could see them. I almost passed and asked him how many he had. So he pulls out a whitman folder and counts them. He looks up and says "65". I want 65 dollars. Well....knowing that a full set is 65, I decided to take the gamble and give him the money. He hands the album over and sure enough, a full set of full date Buffalo's. I showed Randy, the owner, after the customer left. He took one look and shakes his head and congradulated me. He said a year later that he wanted so bad to have me give the set to him. It was his shop after all. But then he thought that since he had passed on it, and I HAD asked permission..... More times than most the stuff that goes out the door is junk. But every once in awhile......... Report this Post to the Staff
GR58 Bedrock of the Community United States 11951 Posts	Posted 10/29/2016 8:59 pm We have had some crazy customers come into the local shop .. Never had a crazy one wanting to sell their coins site unseen. That's crazy man ....crazy Report this Post to the Staff
Buddy Rest in Peace United States 7075 Posts	Posted 10/29/2016 9:00 pm Funny story - but I don't think I would have let him back into the store a second time. Report this Post to the Staff
ExoGuy Pillar of the Community United States 4416 Posts	Posted 10/29/2016 9:07 pm @jmkendall ... I'd have handed Randy $100 ... just my take. Many years ago, I was looking through a box of Barber dimes at my LCS; choice picks at $1.50 a coin. The dealer, Bill, was on the phone, and the box was on the counter, so I casually looked through it. I pulled out a full rim 1895-O dime that was worth $125 or so at the time. I told Bill to mark it at $100 and put it in his case. If it didn't sell for that price, I'd pay $100 the following weekend. Bill sold it before my return. But, that experience put me at the top with him, and the deals flowed for many years thereafter. Showing good will to a dealer will reap rewards ... Bill and I became good friends for many years, and I was able to help him as much as he helped me build my collection. Report this Post to the Staff
IamCam Valued Member United States 54 Posts	Posted 10/30/2016 07:06 am These are such interesting insights into coin dealer transactions with customers. Report this Post to the Staff
ExoGuy Pillar of the Community United States 4416 Posts	Posted 10/30/2016 09:33 am Quote: Funny story - but I don't think I would have let him back into the store a second time. @Buddy ... It was the partner, Rich, who let the so-called "customer" back into the shop. Mark was the one with the headache, and he was in the back room when the nut job returned. Report this Post to the Staff
twslisa Pillar of the Community United States 790 Posts	Posted 10/30/2016 10:42 am The SAD thing is, dopes like that turn around and get on YELP and other sites and give bad reviews to dealers like this. Report this Post to the Staff
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