My Biggest Coin Show To Date, Notes! - Page 2

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Author	Replies: 22 / Views: 2,290	Page: of 2

yankee1227 Pillar of the Community United States 1151 Posts	Posted 08/29/2011 8:45 pm Great story! I'm going to a coin show this weekend in Parsippany New Jersey and then one in my hometown on September 9th. Report this Post to the Staff
vermontensium Moderator United States 16679 Posts	Posted 08/29/2011 8:47 pm Have fun Billy and make sure to show us your pickups! swcoin.ecrater.com Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 08/29/2011 8:50 pm Quote: Great stories, BuffalosRock, especially the one about the guy that wanted a receipt for $3.00... Local customers seem to have two price points, cheap and free. A neighbor sold returned watches for $1, and said people actually wanted warranties. They went to a two-day flea market and sold 200 for $3 each, compared to 20 a month in the store. No warranty requests. Report this Post to the Staff
BuffalosRock Pillar of the Community United States 500 Posts	Posted 08/30/2011 09:56 am Quote: Is that unfair? He wants to make 16.36% after holding it, you turned down 18.28%, have no overhead, and immediate turnover. Maybe not, but we have a different perspective on it with you being a dealer. I think those margins are okay for cheap coins, but when 16% is $180 that makes a big difference. He was asking well over list, his offer was below list and lower than I was willing to sell for - seeing as how I am buying gold coins as a longer-term investment right now and not as a short-term turnover opp. Some of the dealers I've talked to say they struggle to get margins above 5%-8% these days, so >15% on $1000 coins does strike me as somewhat excessive in a simultaneous offer. I know pawn shops deal more in the 18%+ ranges, but I find many of those guys to be unscrupulous to be kind. Report this Post to the Staff
murty Pillar of the Community United States 1353 Posts	Posted 08/31/2011 2:58 pm Thanks for the report...very interesting read and observations. Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 09/01/2011 7:11 pm Quote: so >15% on $1000 coins does strike me as somewhat excessive in a simultaneous offer. Doesn't change the fact you turned down 18.28% and don't have overhead. Put another way, what is your profit expectation? Report this Post to the Staff
BuffalosRock Pillar of the Community United States 500 Posts	Posted 09/02/2011 08:14 am I'm buying for years down the road, so my mindset is not on immediate turn-around and profit, but I'm not interested in paying inflated list for anything. That's the difference between a collector and a dealer - one of many. The guy can pay his overhead off someone else at well-above "inflated list", IOW. I later heard him haggling with a local dealer I know that was interested in one of his coins, they were oceans apart and didn't make a deal. I'll ask him what he thought of the guy this weekend - should see him at a small show. Report this Post to the Staff
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