Sell a coin for less than what you paid?

Yeah, it can get confusing sometimes, especially if you don't use it often.

 

Log in or Sign up to hide this ad.

Negotiating is rude? Since when?

 

personal opinion. if you negotiate, more power to you.

 

Swish,

Does that include the classical "is that the best you can do?", or do you mean back and forth constantly?

 

personally, i don't do the "is that the best" thing, but that's just me. i won't knock anyone who does it. to me, negotiationg is the back and forth thing.

 

Obviously it was a personal opinion but it is also a fallacious opinion.
In my world, EVERYTHING is negotiable.
I got a discount on my cable TV service by negotiating. I get discounts on auto repairs by negotiating.
The secret, of course, is in HOW one negotiates.

 

I've seen dealer refuse to deal with customers just because they don't like them. At minimum, ticking off the dealer will cost you another 20%.

 

Well heck, the dealer was whining about what he paid and what he had to get. Personally, I don't want to hear it. If the price ain't sweet enough to me i just move on down the line.......

 

Indeed. I don't want to hear about how he has X dollars in it. If he overpaid, it isn't my fault. The Lord didn't put me on this earth to rectify dealers' bad business decisions!

 

Hello

I believe that the perception of rudeness most normally happens in people when they think that one is overstepping the informal boundaries of pervue between two different individuals, or when one is slighting another, especially without cause, in this case, in the interaction between you and the dealer.

Dealers have a decent idea what they want to sell their coins for, and might be willing to negotiate. They will not, however, like being told that they are greedy because of the grey sheet, which in case you didn't know it, is not the only method that dealers price things, nor is it the last word on the market or what deals should price things at, as any casual review of Heritage Auctions can tell you. Sales on auctions vary widely from the sheet (of course).

Now, moving on to your insult of people who collect and buy toned coins at a premium, I think that even you can realize that your opinion on that issue has no importance, but it does serve to irritate many people without reason. As a fact, people do buy coins based on aesthetic assessments well beyond the limitations and imperfections of sheldon scale and redbook ANA guild lines. This is a fact within the market place. This hobby is about pleasure. A young person to come along and make others miserable without cause serves to detract the enjoyment of this hobby for everyone else. Without being rude, I would ask you to not do that.

Amanda

 

Hello

Which is what a mature and balanced person does.

Amanda

 

I have a suspicion that many current forum members will be in the same boat as the dealer further down the road. Things can change! Those MS 70 modern commemoratives and others could find themselves under current prices. Coin Prices do not only go UP. Maybe a foreign thought to some.

 

Ive sold coins at a loss once. It was a few months ago back on that black thursday where PMs droped like 25% in 24 hours.

I had bought a huge load for 37 a oz the price at the time was about 41 so i felt pretty good. The problem was about 18 hours after I bought it droped from 41 a oz to like 33 lol.

So I ended up selling a few pounds at a small loss (about 35 per oz) and rebuying at about 31 per with the money.

But besides very specific times like that its a terrible idea if you are trying to make money

 

boo hsss

 

Well my take on it would be:

1. Without seeing the coin, there is no way we can intelligently speak to whether it was worth more than a pricesheet. Since that is true, there is no way we can comment whether the dealer's asking price was out of line. It may be it was a superlative example. That is the danger of those who only buy according to price lists, they will only ever have average to below average coins in their collection.

2. If you don't like the price, move on. If it was a common coin, your research and intelligence just saved you money OP. Pat yourself on your back and find a better deal.

I do not think dealers are "entitled" to a profit, they earn it by procuring coins collectors wish to buy, provide a level of guarantee to collectors, and provide time and place utility. I do not begrudge one cent of dealer profit, but they are never "entitled" to it. They must earn it. If they overpay for a coin, they treat that as a business expense.

Just my opinion.

Chris

 

I'm sorry. Amanda.....you're sayin' I'm 'balanced'? Oh dear, you've yet to know me......

 

But it's why we collect Jim. The price down the road be hanged.........

 

Most that I know of do. I do know a couple who have an encyclopedic mind and simply remember each coin and their pay price. However, this is more about taxes than pricing, (or should be). If a coin is worth $1000, does it really matter if a dealer paid $1200, 800, or 50 bucks for it? The MARKET is $1000, so that is what the dealer should try to get. I imagine a dealer would be very quick to tell you that what he paid for a coin is none of your business if he was making a large profit, why should it be any of my business that he screwed up and overpaid? The coin should price itself.

Chris

 

We do the same thing in the pharmacy when quoting a prescription. We write a little code on it. The bottle labels in the back also have codes on them....I don't know why. Only the staff go behind the counter and they don't need a secret code back there.

Ruben

 

I know I can't contradict that, Truth for most.That is what comes from a mature and balanced person. I don't think anyone has ever called me that ( and I prefer it that way also)
​