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 Replies: 10 / Views: 1,518 |
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New Member
United States
29 Posts |
They are a PCGS and NGC authorized dealer, but when he appraised my coins, he just said "that's my opinion. you can definitely get a second opinion." As though, he took a guess in appraising my coins.
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Rest in Peace
10197 Posts |
Take that two ways. He was either being straight up with you,encouraging you to double check his figures or he wanted you to go away,wasn't interested in buying your coins. Just how long and intently did he survey your coins, spend time examining each one, or just vaguely scope out and give a grade. See, it is your choice, may just be to your advantage to check another. That way #1 price may be better. always wise for more than one bid/appraisal. I have a Wheat collection, missing only 1909SVDB(cost prohibitive) took it in to show "old fart" because was proud of getting this far and nice coins, threw it on counter and said $50, I wasn't trying to sell and it is worth upwards oF $800-900! Learned his philosophy is "If it ain't old and gold, it ain't sold". Sad thing is, only LCS for miles around
Edited by Crazyb0
09/16/2017 12:32 am
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Bedrock of the Community
 United States
12477 Posts |
It really would have to be a guess with raw coins. However "informed" that guess is would be the question. Is this someone you've dealt with before and how do you feel about him in general? If possible, definitely get a second opinion. Comparison will tell you a lot about both dealers' offers and can't hurt anything.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Valued Member
United States
180 Posts |
Out of curiosity are the coins already graded by one of the TPGs? And if not did the dealer recommend submission to PCGS or NGC?
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Bedrock of the Community
Australia
21788 Posts |
You have to get to know the dealer, and ask the right questions.
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Pillar of the Community
Canada
5246 Posts |
You cannot make generalized statements like "should I trust my local coin dealer with appraisals". For starters, 1. are you asking them to make an appraisal, essentially the retail/ replacement cost for insurance/ estate purposes? Or 2. are you asking them what they are willing to pay you for your lot? In case #1 they should spend more time, looking at and checking the grades for key dates and so forth, and generally there would be a charge for this. If they don't even go this far, you can tell from their behaviour that their appraisal is not reliable. In case #2, what they offer depends on their customer base and how sellable the product is. As you know, it is a lot easier to sell silver dollars closer to the book price than any given Lincoln Cent. More generally, I think that you really have to know the dealer and the market to confidently say that you can trust them or not. In the case of the low offer for the Lincoln cents, maybe the "old fart" does not have the time and customer base to give them the attention they need, and would in turn sell the same lot for $100-200. In that case, he would not be a good person to sell them to, even though in a sense his offer is "fair" given his market. A more careful dealer perhaps should explain the market situation if his offer seems low. |
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CCF Advertiser
United States
1533 Posts |
First, he is clearly not interested in the material. I get cigar boxes of coins at shows and I say I'm not interested, but a lot of dealers in stores feel they have to make some kind of offer on almost anything that walks in. Second, if you are not interested in selling, he is doing you a favor by appraising them. If you are not paying him, how much time do you think he owes you?
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Rest in Peace
United States
17900 Posts |
Get your second opinion right here. We have true experts and authors on this board that probably covers 99% of anything numismatic or exonumic. Also, be specific if you are looking for a specific recommendation. The type of store (mostly bullion?), coins you took in (how displayed, in albums, complete?), why you went in (to sell, for appraisal,for TPG submission), and if it was for TPG submissions how long it would take before they had enough coins to submit. Which, incidentally, TPG submissions by you isn't too tough. Show us  |
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Pillar of the Community
United States
744 Posts |
I keep an Excel spreadsheet for every coin Over $20 that I own with the price I paid for it. For coins I've had for years, I use the Red Book and list the value in a separate column. If its a certified coin, I list the serial number on it too. I also keep a copy on a thumb drive in a different location other than my home, just in case... I do this for insurance purpose, not for selling etc. If you want an appraisal, you have to think like you are going to a jeweler for appraisals on a ring, etc.. Tell them up front that you want an appraisal and you are willing to pay for their time and ask what they would charge and go from there. |
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Bedrock of the Community
United States
94367 Posts |
Most dealers will not charge an appraisal fee for a reasonable number of coins brought into their shop. But meeting you somewhere to evaluate many coins or an accumulation is a different story.
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Bedrock of the Community
United States
74662 Posts |
Only if they have a good reputation and are dependable. Always get a second opinion as sometimes they may be incorrect.
Errers and Varietys.
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Replies: 10 / Views: 1,518 |
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Posted 09/16/2017 12:40 am
