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 Replies: 10 / Views: 1,136 |
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Pillar of the Community
United States
3540 Posts |
Some dealers are very easy to deal with. Honest, straight forward, and know their business.
Case in point - visiting our daughter in Co. Springs this weekend, dealer had two MS65 1931-S slabbed coins. One was better than the other, but the price was high. He was asking $600 each. At best, these coins should be in the $250-275 range.
Granted, everything is subjective. I said, "Oh", thanked them for their time and left.
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Bedrock of the Community
United States
20753 Posts |
Kind of guess you are discussing a Lincoln Cent. Lots of 1931S coins you know.  And you never mentioned if in a coin store or where. For example a coin dealer at a flea market has very little overhead. At a coin show, sort of the same. Therefore their prices could or might be less. A coin store has to pay for a lot of things other that the coins. You said visited. This would indicate you don't live there so the dealer does not know you. Does not know if he'll ever see you again so why give you a break. Some might, thinking you'll come back but most, if they suspect your from out of town, will try for as much as possible. I would. |
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Pillar of the Community
United States
1659 Posts |
 to the forum! I'm also assuming you are talking about a 31-S Lincoln Cent. What was the color of these two? Were they BN, RB, or RD? If they were 65RD, a $600 price tag is not out of line if they were graded as such by PCGS or NGC. As far as advice on making offers to dealers, I like to just ask what their best price is. If it's more than I'm willing to pay, I just thank them and move on. Sometimes it helps to let them know you have cash. My local dealer will give a better price if they know you will pay with cash. |
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Pillar of the Community
United States
797 Posts |
Yeah nothing wrong with asking if there is any discount for paying cash (so they can avoid any card fees) or asking if he can do any better on that coin. If he says no, then so be it. If he says yes, then great. If he gets all bent out of whack over it then that tells you how he will be when dealnig with him. (if you offer some lowball number...then getting bent out of whack is fair game for him though lol)
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Valued Member
United States
294 Posts |
I usually ask "Can you do better?". If he asks me what I think, I'll give him an honest answer of what I'm willing to pay. If he gives me another price, I usually will either take it if in line with my price, jiggle a little more if it's close, or simply thank him and walk away if it's nowhere near mine. Cash will usually get you a discount. This is where research is the key. Know what it's worth before you negotiate.
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Pillar of the Community
United States
1348 Posts |
I always ask for cash discounts. It usually works for maybe $10-20 depending on the purchase price of the coin.
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Bedrock of the Community
United States
11951 Posts |
With out us knowing what the coin is, makes it hard to comment. Knowing how close to grey sheet (CDN) helps with how to respond. On a MS65 1931 S Lincoln Cent bid $560 ask $610 but say on a MS65 1931 S Indian head nickel bid $235 ask $255 How I would respond would be different depending on which coin you are talking about And of course, as mentioned .. who slabbed the coin Edited by GR58
03/07/2011 09:40 am
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Bedrock of the Community
United States
20753 Posts |
Quote:
As far as advice on making offers to dealers, I like to just ask what their best price is. If it's more than I'm willing to pay, I just thank them and move on. Sometimes it helps to let them know you have cash. My local dealer will give a better price if they know you will pay with cash. Completely true. You should always ask about a lesser price. Many dealers put prices on coins in the same way used auto dealers put on the car's windows. They all suspect you'll try to chew them down so they just raise the prices in the beginning. And as to cash. Many dealers really like that since it leaves no tax possible trails. |
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Pillar of the Community
 United States
3540 Posts |
Missed the boat on providing complete info. Lincoln Cent and they were both slabbed. Not RD...but RB. |
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Valued Member
United States
447 Posts |
Slabbed by who?
NGC, PCGS, etc?
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Bedrock of the Community
United States
20753 Posts |
Quote:
Slabbed by who?
NGC, PCGS, etc?
And that is a good point. It is amazing how at a coin show dealers will say "Of course it is priced higher, it's in a PCGS slab" PCGS does mean something to many. NGC too helps bring up the prices. There are probably a zillion (slight exageration) other TPGS's but many are so little known, it really doesn't mean much to many. |
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Replies: 10 / Views: 1,136 |
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Posted 03/07/2011 12:11 am
