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Buying An Expensive Coin At A Coin Show

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BStrauss3's Avatar
United States
4594 Posts
 Posted 11/27/2016  09:28 am  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
In many shows, from small club to the ANA I've only seen a few dealers advertising credit card acceptance using Square (et al).

If the dealer sells on ebay s/he typically can accept cards, albeit sometimes reluctantly (or 'oh, I forgot the device'). Usually the fee (4%) gets passed on to the buyer.

I've seen lots more dealers take a check either because they know the buyer or get a reference from another dealer... "yeah, I know that guy. He's a bum for not buying from me, but his check is good" in fact the better known the buyer the more insulting the reference.

For the rest of us, cash is king. And avoids the fees.
-----Burton
50+ year / Life / Emeritus ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
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Owned by three cats and a wife of 40+ years (joined 1983)

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SPP-Ottawa's Avatar
Canada
10460 Posts
 Posted 11/27/2016  11:46 am  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply
I have been on the other side of the table... I have been able to help folks nervous with carrying cash through a few different options, or folks who just ran out of cash, and want to get a coin they know they won't find easily.

1. If the buyer has a smart phone and a PayPal account, then I do this. I send a PayPal invoice to the buyers email address. He then pays for the invoice, I take a photo of my coin with both my iPhone and the buyer's phone with the PayPal screens on the phone (to protect myself via refund scams). Then, with the funds in my PayPal account, the buyer takes home the new coin.

2. I have the Square, to accept credit cards on my iPhone. https://squareup.com/ca/reader (frankly, as we move into a digital age, more coin dealers should use this).

3. If I know the collector, they take the coin, and they pay me when they can... (for trusted buyers and friends). I once sold a coin for $10,000 to someone who just took the coin home. A week later, a certified cheque arrived in the mail.
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert Oppenheimer

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

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jbuck's Avatar
United States
189480 Posts
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Conder101's Avatar
United States
17884 Posts
 Posted 11/28/2016  09:33 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
At all the shows I go to I've only found one dealer that would take check.

Amazing, I've never found one that wouldn't take one.
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UltraRant's Avatar
Norway
1358 Posts
 Posted 11/28/2016  10:17 am  Show Profile   Bookmark this reply Add UltraRant to your friends list Get a Link to this Reply
Here almost all dealers have either a mobile payment card terminal and they accept cash. Some would accept a receipt from a mobile bank transaction as well (if you transfer the money there and then). But then again we're in the part of the world where, according to some, cash is hated and society is going cashless.
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