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 Replies: 14 / Views: 1,222 |
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New Member
United States
18 Posts |
ive been going to this coin dealer near me since the 1st of this year. ive probably been there 8 or so times. I remember my dad taking me to the same coin place back in the 90's as they are still in the same location today. I havent always bought coins each time I went but more times than not I have spent some money there. I bought a 1889-cc dollar from there I think the second time I went there and each time I go there they have given me either 10 dollars off the stuff I buy or my supplies that I have bought from there (2x2, coin pages) for free. it doesn't sound like much when you spend $150 but I guess they figured id keep coming back which I have...haha.
they have told me they grade their coins and are professional enough... is this good or safe to trust their opinion? do otther dealers grade their own coins? I tend to trust others to easily and being that I'm a fairly new collector I dont when I'm getting ripped off (guess that comes with experience). however, id like to know some signs of good deals and I guessbad ones too
thanks
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Bedrock of the Community
United States
14454 Posts |
most all dealers grade their own coins (but some will deal in Professionally graded coins also). You have to kind of get a second or third opinion to see how accurate their grading is but everything else seems to point to a good dealer for you and its always good to have a good relationship with one or maybe even two certain dealers that you like
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New Member
 United States
18 Posts |
also when I buy coins from them they check the greysheet and then give me a price for the coin
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Bedrock of the Community
United States
17884 Posts |
quote:
is this good or safe to trust their opinion
No, you need to learn to grade so you can trust YOUR opinion. That goes for slabbed coins as well, even from the major services. The TPG just render an OPINION, the dealer you are talking about renders an OPINION, you look at the coin and render your own OPINION. Which of these opinions counts? Yours, its your money. |
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Valued Member
United States
265 Posts |
I could not echo that enough. I've been collecting for some time, but only seriously for the past few years. Knowledge is power. Educate yourself as best you can.
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Valued Member
United States
294 Posts |
As suggested several times on this forum ebay can be used as a price guide. Seeking: Deal or no deal Rainman  |
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Pillar of the Community
United States
1952 Posts |
ebay is not a very good place to price your coins. there are way too many variables to it. the big or power sellers make good money because they either sell a lot or sell cheap.plus you have the occasional guy that really know how to market.(look out for him) he can sell you a dime for a quarter and make you think you got a deal. the regular guys like myself and a few others here make about what the coin is worth or just under that have seen $200.00 coins go for cents on the dollar and also have seen $1.00 coins go for hundreds. so don't try to value your collection from ebay sales you will be sorely disappointed in the end. Gary
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New Member
United States
14 Posts |
I have purchased an incredible amount of quality coins on ebay for well below melt, and to find out several were worth quite a bit more than the purchase price. As anywhere, buyer beware. |
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Pillar of the Community
United States
1952 Posts |
thats my point or one of them anyway
Gary
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Pillar of the Community
United States
543 Posts |
I have a dealer whom lowers prices, mainly because I have been buying from him for a few years. And yes he grades by his opinion and is pretty acurate also.
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Valued Member
United States
294 Posts |
Gary great summary of ebay  gobulls04 seek out more dealers. Quote :One mans garbage is another mans fortune. Seeking :More fortune than garbage. Rainman |
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Pillar of the Community
United States
581 Posts |
You should definitely check out a couple other dealers. Don't get sucked in because you get some free 2x2's. If this isn't possible because you're in a rural area, then even more red lights are going off in my head. This dealer knows he has a corner on the market. Nothing like competition to keep people honest.
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Pillar of the Community
United States
2373 Posts |
My last observation at the local dealer was not a warm fuzzy one. I entered the store at the end of an appraisal and offer to buy an elderly couples daughter's late husbands collection. The binders (3 ring type) loaded with 2x2's of various coins were being closed and the dealer was making out a bill for his time evaluating the collection. He also made an offer for 10xface for the silver coins. This was just a few weeks ago when silver was at ~$18. Too bad I didn't run into them as they were leaving. Something about charging them for an opinion and then making them an offer didn't set well with me. Maybe that is common place, I don't know. I was not impressed with the experience at all. I sure don't want my heirs to go through that ordeal. nlp
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Bedrock of the Community
United States
12437 Posts |
quote:
Something about charging them for an opinion and then making them an offer didn't set well with me
If they wanted an appraisal, it is standard procedure to charge for the time it takes. If they were just interested in seeing if he would purchase the collection and he only provided a cursory look(noting silver coins and key dates but not creating a list broken down by date/mintmark/rarity/value) then it is rediculous to charge for that since the dealer would be making more money by buying it that way. Also 10x face when silver is $18 is a ripoff- it should be at least 12x face at that price. |
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Valued Member
United States
58 Posts |
Most dealers want repeat business and will work with you. Still learn to grade youself. E bay is a great place to practice your grading skills by looking at numerous examples of one coin in a series.
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Replies: 14 / Views: 1,222 |
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Posted 03/25/2008 5:25 pm
