Not All Coin Dealers Are Alike .... Funny!

Here's the latest, funny tale as told by the American Coin & Stamp Brokerage .... Enjoy!

Why I sometimes need a drink after work!

Yesterday during the day, I happened to be up at the front counter sorting a bunch of $1.00 Silver Certificates, from the 1935 and 1957 series. This includes mostly well circulated type of "stuff" that we have accumulated over a period of time from small purchases in the store. When the pile gets too big on the shelf of my computer monitor, I find a place to sort it out, band it together, and sell the lot wholesale. Of the 150 or so notes, approximately 35% are from the various 1935 series. For those of you whom have seen my desk, you know there is no way I have any space to sort anything, as all available real estate is taken up with piles of miscellaneous coins, stamps, tokens, medals, currency, albums, tubes, etc.

I usually attempt to sort the stuff rather quickly, so I don't take up the front counter, so when customers come in, they have room to view material, or we have room to purchase material. I make 2 rows of the dollars, the top row for series 1935, 1935A, 1935B, 1935C, 1935D (wide & narrow), 1935E, 1935F, & 1935G (With & Without Motto). The bottom row is for 1957, 1957A, & 1957B series, as well as a pile for star notes. Just as I'm almost done sorting and counting, the doorbell rings. I look up and see a vest-pocket dealer we sometimes do business with, so I look over my shoulder at Richard, with the look of disgust, "buzz" him in anyway.

Now I must admit that dealers get treated a bit differently than collectors in our store. Dealers come in all different shapes, sizes, and idiosyncrasies. Some of my best friends are dealers (did I really just admit that?), and there are some that I loathe. This particular one is certainly NOT on my friends list. I consider him somewhere between street slime & slime ball. I'm guessing you get the picture.
"Have I got a great deal for you" he proudly announces as he enters the store. Typically, his "great deals" means, that he makes a tidy 300% profit, and we barely break even. I figure, OK, I'll ask, because even a broken clock is correct twice a day.

"What do you have for me?" He pulls out a run of 1950-1959 Proof sets, in Capitol plastic holders. Stunningly, the sets actually look nice. "How much, I ask?" "$1500.00 for the lot" is his answer. Not bad, I think to myself. As I'm looking at the sets, he is looking at the lot of Silver Certificates on the front counter. Now it's his turn. "How much for the Silver Certificates?" he asks. "I want $1.75 per note, across the board, for the entire lot" is my answer. Which, for those of you who might not be familiar with the market for circulated Silver Certificates, is a very fair wholesale price for the lot of notes (this includes the good, the bad, and the ugly).

As I'm checking out the Proof Sets, and he is counting the stacks of all of the series 1935 and star notes. I glance over and have the feeling that I know what is coming, especially with this particular dealer. When he is done, he announces that he'll "take these 60 notes, at $1.75 per, so you owe me $1395.00." True to his colors, he has picked out all of the early notes & star notes, and left the less expensive Series 1957 notes. Time for a little bit of his own medicine.

Quickly, in my head, I figure 10 Proof sets, at $1500.00, comes to $150.00 a set. "OK, but I only want these sets, the 1950, 1951, 1952, & the 1953, so $1500.00 divided by 10 is $150.00, times 4 is $600.00, less $105.00 for the notes, means I owe you $495.00. Slowly the look of total confusion on his face turns to anger. "You can't do that, that's not fair." I then calmly explained that since I gave him a lot price, and YOU ASSUMED that you could simply take part of the lot "pro-rated", I'm just using your logic & pro-rated what I want out of your lot.

Richard is trying to stifle his laugh so hard, that he has to get up from his desk, walk all the way to the back of the store before he bursts out in laughter.

The dealer is really getting steamed now, and is becoming indignant. Amazingly, I am able to keep a straight face, while the dealer is ranting, and becoming redder & redder in the face. I must admit, that I'm enjoying this entire scenario. The more he protests, the more adamant I am by insisting that HE was the one who decided to Pro-rate the deal.

By the time that Richard has composed himself, the dealer has packed up his Proof Sets and has left. Out of the back strolls Richard, still laughing, holding 2 shot glasses and a bottle of Tequila. Not a word was said, as he cracks open the bottle, pours out 2 shots, we click the glasses and down the shots. Richard thanked me for his best laugh in a month.

*** Moved by Staff to a more appropriate forum. ***