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 Replies: 40 / Views: 3,476 |
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Valued Member
United States
425 Posts |
OK, rant on its way here! Local shop just opened here,(had been working this out of his house), and sent out fliers. Not really a coin shop as they mostly deal in Gold, Silver, Watches, Diamonds, etc... Went by yesterday and told him I would like to trade some of my silver for gold. Described what I had to trade in great detail and what I was hoping for. He said he could do that and bring my stuff in to work a trade. Get all my stuff out of the safe and carry it all down there. Told him I had about 20 Maria Teresa's ,( that are going on the bay for about $23-$24 before shipping), but now he says "Nobody wants these" and offers me $10 each. I have a couple CAL. AG. 10 oz. bars, he also says he can not sell these as no one trusts the hand stamped bars and offers $200 each. He looks at my 1oz. rnds and says he will pay $29 each,(not bad), but then says he will go $35 each for my ASE's if I will part w/them! So why would he waste my time and his time just to offer some silly low amounts? |
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Pillar of the Community
United States
1231 Posts |
Cause he was hoping you were desperate for cash.
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Moderator
 United States
16677 Posts |
That's what I was thinking too. Should have asked him what he is buying 1 oz. Gold for!
swcoin.ecrater.com
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Pillar of the Community
United States
5823 Posts |
It's like 'Pawn Star', you will never get a straight even trade.
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Moderator
United States
16677 Posts |
I actually went to their shop in Vegas. First of all, there was a line around the block to get in, then I went to see their small section of coins. I almost laughed so hard but I had to control myself. They were selling average BU 1964 Kennedy halves for $24! I cannot remember but they had common Double Eagles for something like $3500. swcoin.ecrater.com
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Bedrock of the Community
Australia
21786 Posts |
I went to a couple of coin shops in Vegas in 2008. Said I was an ancient collector, which I am. I was shown some nice denarii, but the prices offered were over the top. I think my problem must have been that I was perceived as a tourist, they could detect my Aussie accent, so the prices offered were automatically elevated.
I was not a tourist in the normal sense, I was on an essential visit to some friends who have lived there for some time. I think I have a pretty good idea of ancient coin prices, since I have been an active collector of ancients for over 30 years. Basically, all I could say was
"Nice coins".
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Moderator
United States
16677 Posts |
I hear you sel_69l, sometimes its better not to say anything but just walk away. That's what I did.
swcoin.ecrater.com
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Bedrock of the Community
United States
20753 Posts |
Quote:
So why would he waste my time and his time just to offer some silly low amounts? WHY? Your kidding of course. That is what is called buisness. Or buy low, sell high. Or here comes another sucker. Or just buisness. Coin store and most any dealer wants to buy coins for as low a price as possible and sell for as high a price as possible. That is normal, everyday, good buisness CENTS. And not only for coins but anything. A house, cars, boats, flashlights, cigars, etc. Store owners must buy low and sell high to make profits to pay for everything. Just buiness. |
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Valued Member
 United States
425 Posts |
Quote: "It's like 'Pawn Star', you will never get a straight even trade."
You know, I understand that the guy is "in business" to make money, he pays rent, insurance, etc..... We were both clear the day before that I would lay out what I had and he would give me a price. I could then walk around and see what was for sale and how much.
I'm mostly wondering why he would not tell me that he was not interested in the Maria T's the day before.
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Valued Member
United States
425 Posts |
Quote: "Cause he was hoping you were desperate for cash."
There was a guy in there just before me that looked like as soon as he got his cash he was off to see his dealer!
But I tried to be very clear in that I was looking to trade silver (46+ oz.s of weight), for Gold,(1oz. of weight). Just trying to clear some room in the safe, we even talked at some lenth about keeping 10% investment in pres-metals and that I was NOT interested in selling......only tradeing.
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Pillar of the Community
United States
2335 Posts |
I agree that those are low ball prices on the Maria Theresa's & the 10 oz bars. With silver at roughly $30 the other prices seem reasonable to me.
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Valued Member
United States
425 Posts |
Quote:"Should have asked him what he is buying 1 oz. Gold for!"
Yes, I should have asked that, it may have helped. But he had a sign out that all his gold is priced, and that unpriced pieces were $5 over spot. As for silver, he had another sign that stated the same and I even overheard a guy the first day buy a silver round for $35,(Silver closed Thursday at $30.22 I think). On my rnds he offered $29, that is just a dollar off spot, but I was very clear the day before that the bulk of my silver was in Maria T's,(22 pieces), and two 10oz bars.
So why not tell me then that he would under value them......alot...... because as he said," I can't sell them here in the shop". I mean a guy was just in selling him a silver set,(knives, folks, spoons), and he told me he has his own smelter?
Why is there this need for people to say,"Well bring it in and let me take a look at it!" Is it shows like "Pawn Stars" and "Road Show" that make them think they are gonna discover something that has been lost?
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Valued Member
United States
425 Posts |
One last thing and then I will settle down.............. He asked what was in my other box, told him it was some ASE's on the Littleton packs. Sight-unseen he said he could go like $35 on each of them, (but this was when I was packing up and headed out the door!). So was he hoping I would bring them back in and then say "I'll give you $29 each for them because people are not buying them right now!"? Or can he really sell them for $40 when others are selling for $35 right now? |
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Pillar of the Community
 United States
2448 Posts |
I know the feeling, I just laugh and walk a few steps, look back at them and laugh again and leave. Drives em nuts sometimes.
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Valued Member
United States
425 Posts |
Quote:'I know the feeling, I just laugh and walk a few steps, look back at them and laugh again and leave. Drives em nuts sometimes." I know, I must have done the samething. I did not get angry, or upset..... I was mostly confused as to why he would waste our time like that. Maybe that is why he offered so big on the ASE's after I was clear I did not wish to trade them? I just don't know? Don't dealers like this understand that we can go to a half dozen other places and that they also loose the "word-of-mouth" business? Oh well, such is life! |
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Valued Member
United States
463 Posts |
instead of going to pawn shops or putting them on ebay another suggestion would to post them here or email providence metals and APMEX to see what you can get. Check out there site and look on the sell to us |
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Replies: 40 / Views: 3,476 |
Posted 02/11/2011 8:59 pm
