| Author |
 Replies: 16 / Views: 3,209 |
|
Pillar of the Community
United States
629 Posts |
How many of us have gone into a dealer just to browse the coins and see what they have for sale?
5 Years ago, I found a 1964 EWL nickel for sale in BU for 15 Cents. Was I supposed to tell the dealer that he made a mistake or just make the purchase which I did. Then I celebrated my victory in my car.
This week I bought 11 BU dollars dated from 1981 to 1986 for $4 each. He had them priced at $4.95 but I asked if this was the best he could do. He sold them to me for $45. Now I think that he made money on this transaction. And when I go sell them for $10 each I will make money on them too.
Is this fair that I made a deal or did I make a steal?
What successes or steals have you made?
|
|
|
|
Pillar of the Community
Canada
3692 Posts |
Obviously the dealer got them at low prices and can afford to give them out that low. I'd say "deal". It's a dealer's profession to identify and grade coins that they buy and sell. If they miss out, it's going to be a returning customer anyhow.
|
|
Moderator
 United States
56855 Posts |
You don't tell the dealer that you got the better of that deal,would he/she tell you that you paid too much on a coin?,I think not. The dealer should know his trade and on the other side of the coin(pun intended) the buyer should know the going value of something they are going to buy before the buy it,IMHO.
John1 
|
|
Pillar of the Community
United States
2661 Posts |
I would say both. You paid close to the advertised price.
|
|
Pillar of the Community
Canada
1248 Posts |
am not sure if you get $10 for each of these dollars....good luck...
AND never tell a dealer that he goofed....he does not want to know...
|
|
Pillar of the Community
 United States
629 Posts |
Check today's price of Silver and those .500 Dollars have $10.66 in silver in them.
The dealer made money on those dollars, there is no doubt in my mind. In fact if you look at them, don't them look like they are made of another metal. They certainly don't have the look of a silver coin. I think he bought them for pratically nothing, and the person who sold them to him, didn't know either. Another example of pay attention to silver pricing as you can get the steal.
|
|
Pillar of the Community
 Canada
9865 Posts |
If they don't look like silver,maybe they're not.Nickel,as well as silver dollars were issued for those years.
|
|
Bedrock of the Community
Canada
10743 Posts |
Yeah.. I agree with DBM, if they are the Nickel dollars, you probably paid too much.  |
|
Pillar of the Community
Canada
1248 Posts |
So, they are 50% silver....
what do you think they will cost you to melt and realize your silver?
|
|
Valued Member
Canada
426 Posts |
If they're dated 1981 through 1986 wouldn't they be 0% silver? They definitely sound like nickel dollars...
|
|
Pillar of the Community
Canada
9865 Posts |
50% silver dollars were issued as collector coins in these years. 1981-trans Canada railway centennial 1982-Regina centennial 1983-Universiade-Edmonton 1984-Toronto-150th 1985-National parks centennial 1986-Vancouver centennial . Nickle dollars in these years were 1981-86 Voyageur 1982-Constitution commemorative 1984-Jacques Cartier commemorative |
|
Pillar of the Community
United States
2448 Posts |
If you tell a dealer he goofed, don't be surprised if he doesn't welcome you back. Unless he's a good friend, most people don't like being called stupid; in essence, that's what you're implying.
|
|
Pillar of the Community
United States
629 Posts |
They are definitely the commerative silver bu dollars - you can easily see the differnce between these and the nickel dollars.
If I can double my money than I will be very happy with the purchase. That was the whole reason as to why I bought them, to get their silver value. But then again, a lot of these dollars will probably be cashed in for their silver since they are really kind of ugly in bu. They didn't make as many of the bu dollars as they did of the proof versions. What would you do?
|
|
Pillar of the Community
Canada
9865 Posts |
You got a deal,and you're right the non-proof vaersions aren't particularly nice looking coins.Cash them in and use your windfall to buy a nice coin,perhaps from the same dealer.
|
|
Pillar of the Community
United States
629 Posts |
DBM - I wish I could this dealer really doesn't have anything that nice. I think it's a hobby for him (he also has a jewelry store attached). Most of his coins are over priced. But that's not to say I haven't gotten deals from him. When silver was around $14/ounce - I picked up from him a capital plastic holder with 13 Canadian year sets in it from 1953 to 1964, included another 64 as showing obverse for $230 US. At the time it was slightly higher than silver BV BUT All the coins were minimum BU with a few of the minors in PL. Sold the plastic holder on ebay for $22! So I go back to see him about every 3 months to see if he hasn't anything that is priced wrong. I just this of myself as a smart buyer that's all. |
|
Pillar of the Community
United States
2335 Posts |
I own a very small scale antique business & specialize in coins, jewelry & sterling. I buy stuff all the time from dealers and/or individuals for less than I would be willing to pay.
If the seller sets the price I don't think it's my place to tell them I'd pay more. On the other hand, if the seller asks how much I could pay I'll give them the most I can & still meet my profit margin.
|
| |
Replies: 16 / Views: 3,209 |
Posted 12/01/2010 09:16 am
