How Do I Negotiate A Price

It never hurts to make an offer the worst that can happen is a 'No' My local dealers are at the point where they will just quote me the lowest price they are willing to sell for. The ones that stick by the marked prices get less business but I guess they make up for it by making more per coin.

First off, know what you're negotiating. Carry a Greysheet or price guide if you need to and have what you want to buy in mind before going in the shop to buy. Browsing is fine but it's easy to over pay when you don't know the market value of a particular coin.

From your example: Say Greysheet bid is $35 for the coin priced at $50. You're willing to pay $45 because the coin is a nice example of what you want. Offer $40 and see what happens. Specify that you will pay cash or credit. Be sure to note if sales tax will be collected. The $45 dollars, if it includes sales tax and is paid by credit card might net the dealer $40. If you pay cash and sales tax is added, he nets $45.

On big purchases like $20 gold Double Eagles, these things become very significant to the dealer and to your wallet. Do not be afraid to walk away. Also realize that if the coin is PQ for the grade and in demand, it's less likely you'll get much, if any, of a price break.

Good Luck!

Making an offer is fine, I think, as long as you're not insulting in the offer you make.

I find a lot of dealers will give you a bulk price, though, if you're buying a lot of stuff. I've seen them knock anywhere from $2 to $20 off a final total because you've bought many items.

Important fact that bears some consideration though: With the economic downturn, it is increasingly becoming a buyer's market.

I'm a constant haggler with prices everywhere. Even at stores I try to make deals. For example at a place called Menards I offer to take broken bags of dirt off their hands for a big discount. At an appliance store I always say can't you make a better deal than that. Got $300 of a TV that way. Same with a DVD/VHS recorder/player, about 20% off on that. Even stores have a price playable thing if you try. Nothing to loose. I'm a flea market person and have been for many, many years. I would haggle with an angel when my time comes. It's all in fun you know. Nothing to ever loose by haggling.
I go to coin shows about 2 to 4 times a month. I would never pay the prices a dealer there is asking. They know I know they raised all their prices as high as possible so they know I will not pay what they are asking anyway. Most people don't. I usually try for about 20% or more off their asking prices. If I don't get it, I just walk away. Even at 20% they sometimes come out way ahead.
To me buying is war. Someone just has to win and I try to make it me.

As a follow up question to snitchard's original question, is it better to get a price quote for each individual coin or as a whole lot? For example, currently I go through a dealer's inventory of Lincoln cents and pull out pieces that I am interested in and ask for a price quote. If I like the price I say I'll take it and if I don't I put it back and continue looking until I find the next interesting piece. Is this the proper way or would it be better to pull out all the coins I'm interested in and then get them priced as a lot? Thanks.

Most dealers will be more apt to give a discount if you are buying a quantity of coins

Snitchard, just make sure whatever price guides you use are relevant. Prices on coins are tough to nail down a lot of times and some price guides are rapidly outdated if they were ever accurate at all. You might get a good idea of what a coin is worth by looking at completed auctions on ebay or checking out heritages online auctions and getting a feel for how much coins you're interested in go for in what grade, etc.

The more you know the better off you are so homework definately pays off but don't be intimidated. If a deal isn't to your liking just politely bow out and keep looking for the deal you want.