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 Replies: 20 / Views: 2,592 |
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Valued Member
United States
420 Posts |
Hello, I attended my second ever coin show today and was a little upset by a few things. I want to start an album of just Eisenhower dollars. So I go to several dealers at the show and ask if they have any uncirculated Eisenhower dollars. Some had a few in 2X2's and some had more than a few in 2X2's. A few dealers had Eisenhower dollars in binders too. My frustration came with the apperance of the coins, they were just not that appealing to me. The majority of the coins graded at MS-63 or lower. I saw a few MS-64 and very few MS-65. Also the prices were crazy. I can get an MS-65 1972-S from one of the online dealers I work with for $14.00 (including shipping costs) and I saw one dealer asking $25 for the same coin at MS-63!! Also, the majority of the Eisenhower dollars were S mint marks.....mostly Proofs or 40% Silver and still lower grade.....why? Did I miss something? Am I doing something wrong or expecting too much? Any insights and help would be appreciated. Thanks, Rich Rich M. - Collector since 2008
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Valued Member
United States
295 Posts |
sometimes people put stuff on a table they really don't intend to sell.
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Pillar of the Community
United States
1454 Posts |
I've never had much luck at coin shows or even coin shops for that matter. Everything is always overpriced.
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Valued Member
United States
245 Posts |
"sometimes people put stuff on a table they really don't intend to sell."
Absolutely correct!!
However, I would love to see the prices of those Iks go sky high ;-)
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New Member
United States
15 Posts |
Understand completely. Wanted to put together a set. Everything I read said no one wanted them, few people collected them, they were ugly coins, & they would never be worth much. So I'm thinking a quick set and one that won't break the bank. First found out the banks don't have them and can't/won't get them for me. Go to a coin show and those dealers that do have them want a lot of money for them and usually they are just thrown in a box loose to search thru except the Proofs which are extremely expensive and compare in price to the old silver dollars.
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Pillar of the Community
United States
1840 Posts |
Quote:
I saw one dealer asking $25 for the same coin at MS-63! The asking price isn't necessarily selling price. If I know the book value of the coin, I let the seller know and they almost always adjust the price accordingly. Even if I don't know the value of a coin, I typically ignore the marked price and ask the seller, "What will this coin cost me?". I then counter with a lower offer. It never hurts to try. |
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Bedrock of the Community
United States
10284 Posts |
Theres probably a better way, maybe by buying mint sets if you ask and are allowed to gently open them and look at the IKES inside. You might get the whole set and sell off the individuals to cut your costs.
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Pillar of the Community
United States
608 Posts |
No one should pay the asking price...always make a lower offer and if not accepted just walk away. That's part of the game and the fun of finding the coin you want at the price you are willing to pay!
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Pillar of the Community
United States
632 Posts |
I just went to a coin show yesterday, and yeah, the prices are sometimes annoying.
I was looking for some IKES and some Jeff nickels to finish up those two sets. Plenty of tables to go to to look for them, but like one guy was selling circulated IKES in 2X2's listed at $8.00 apiece. Like, ok.....why are they so expensive? Their definitely not worth that much.
I went to another table to look at Jeff nickels. This guy didn't have one nickel he didn't have graded under EF, but they all were crap nickels that you would find in beat up pocket change. I think he thought that if you could read the mintmark and date, it must be EF, and that he could sell it for $3.00.
As for the list price not being the actual price, thats always kind of annoying for me for several reasons. I'm used to buying things from stores and resteraunts and stuff right? I mean we all are used to knowing the price of something before we buy it, I don't really want to guess what I'm going to pay. And its a double edged swored. I've had plenty of times where I will take 5 coins in 2x2's to the dealer and the prices on the 2x2's ad up to $15 and he'll just be like "I'll let you have it for $10". Thats awesome! But then I've also had it where I've taken coins adding up to $15 to the dealer and he'll ask for $20, and when I ask whats up they always say they were old 2x2's or that he was adjusting to silver prices or something like that.
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Pillar of the Community
United States
2335 Posts |
My pet peeve about dealers coin prices is that they aren't the same across the board. Many dealers will give a better price to what I call "vest pocket" dealers than they will to someone that looks like a retail customer. It's like they think if you aren't a dealer you don't have any idea what a greysheet is for.
I have seen dealers offer a coin at one price to a customer who doesn't buy. I come back to that table 5 minutes later after the customer moves on & ask about the same coin. I'm quoted a price 20% higher. I walk, & also make a note not to deal with that seller in the future.
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Pillar of the Community
United States
1353 Posts |
Went to a coin show in central NJ today. I went abouth 3-4 months ago looking for bust 1/2 dimes. The show was basically dealers talking to other dealers. They were friendly in general but their inventory for what I was looking for has not changed;and neither has their final asking prices.
On a good note I noticed a couple in their late thirties show a dealer about 20 Morgans g-ex.f. They have been given these by a relative and wanted to sell them. The dealer told them they were common dates in circulated condition and to hold onto them for the silver content. Second dealer spent about 1/2 hour with a young boy(10-12)
explaining silver quarters versus clad quarters. It was very nice to see that. It looks like the basic buying and selling has slowed down since my last visit.
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Moderator
 United States
16679 Posts |
Quote:
On a good note I noticed a couple in their late thirties show a dealer about 20 Morgans g-ex.f. They have been given these by a relative and wanted to sell them. The dealer told them they were common dates in circulated condition and to hold onto them for the silver content. Second dealer spent about 1/2 hour with a young boy(10-12)
In a nutshell, that should be what it's about. Sounds like a genuine dealer helping out everyone across the board, not just the high end customers. I've walked up to dealers I've never met who don't know me from anywhere. I dress very casually with a ball cap and on occasion, a 5 o'clock shadow. Seems like they ignore me and concentrate on customers who arrived after I have. I just move on. No loss for me  swcoin.ecrater.com
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Bedrock of the Community
United States
20753 Posts |
Missing the point of a coin show. You must remember that coin shows, gun shows, knife shows, etc are basically just specialized flea markets. Coin shows basically work on the same pricipal of selling a house. You ask for xxx, the potential buyer says much lower, you come back with a little less, they come back with a little more and on and on until everyone is happy. Dealers at coin shows expect you to haggle prices so they inflate the cost accordingly. If, for some reason, someone pays the inflated price, so much for the profit. Just like a flea market, you are never, ever, supposed to pay the asking price. This is why at coin shows the prices appear to be so excessive.
I go to from 2 to 4 coin shows a month. One dealer I know real well tells me he inflates all prices by as much as 20%. Every potential customer is greated with an immediate 10% less price due to "Just for you" or "I'm trying to unload those so" or I think your a potential steady customer so" If this doesn't get them, then the price is dropped to 15% off. Customers see there is a haggling situation going on so they offer 20% off his asking price. He accepts and gets his original desired price and the customer walks away thinking he is a real sharp buyer.
I'm always suprized at how many people don't realize this. It is done at car dealers, house purchasers, gun shows, computer shows, camera shows, etc.
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Pillar of the Community
Germany
1063 Posts |
I went to the large Vienna coin show at the weekend. I always look out for US coins, and there were a few US dealers. But there was one guy from the US, sat at a table with a few thin books and not much else. I wondered how such a guy could make money. Then I heard him speaking with some other people, turns out customs in Austria, or where ever he had flown into, had decided to not let his coins into the country, and so he sat there, with nothing to do. That is a frustrating coin show experience! Flying all the way from the US to Vienna, and spending all weekend doing nothing! |
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Pillar of the Community
United States
1541 Posts |
Why are the IKEs so expensive? Like NickelDan mentioned, I've heard comments like they're ugly coins, no one wanted etc. if so why is it hard to get. This should be a set that's relatively easy to put together going by the comments.
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Pillar of the Community
United States
1231 Posts |
With over 600 million made....where did they all go? Did the mint destroy them after people stopped using them?
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Replies: 20 / Views: 2,592 |
Posted 05/17/2009 08:48 am
