Weird interaction at Central States show today

I needed a fairly common 1927 peace dollar for my dansco today. At the show I probably saw 10-15 dealers with one I liked priced around 100 bucks. So it was getting late, and I decided to pull the trigger at this one booth. The coin was marked 100 so i told the guy I would take it. He asked me if I was a dealer and I said no. He said then my price would be 120.00. I asked why and he pointed to a sign that said the prices listed are for dealers if your not a dealer add 20% I walked over to one of the other dozens of dealers that had a 1927 and bought theirs.

I know dealers wholesale to each other, but I'm still thinking why he operates that way. I think it would be difficult getting people to pay 20% over sticker price. When I'm selling coins if I would take a 100.00 from a dealer, I would take a 100 from anyone. I dont see the difference. Oh well

 

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Don't you claim to be a dealer? Why did you lie? Don't be mad because you failed to read his sign...

Why he chooses to publicize that he offers better rates to dealers is his business; and you chose to take yours elsewhere. I fail to see the point of your thread...

 

Next time lie.......

 

Actually, I find it quite humorous that a dealer would be set up at a show with the expressed intention of dealing only with other dealers. Never heard of that before, but I'm wet behind the ears........

 

You had to be a registered dealer at the show, I think. I'm not big into lying.
The point of my thread, was it was my first experience like this, I thought it was weird. Its like going to a car dealership the price says 10,000, and they say for you sir its 12,000.

 

I know, first for me too. I thought he was being a wiseguy at first. Saying its 100.00 but for you 120.00. LOL

 

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Bkozak Coin & Hobby Shop
1964 Main St.
Cointown, WI, USA

 

I think it would make more sense to label retail prices for customers and then post a sign stating that registered dealers get 20% off. TC

 

I agree.

 

I think if I saw that I'd be turned off big time with the guy. I know these folks conduct transactions between each other on the sly but there's no need to advertise it. Just makes me feel left out and abused.......

 

They probably could just lose the sign then as this is so common. However, I would never buy from a dealer in which I had to add money to the listed price though as in the OP's case.

 

Edited:

 

It is extremely common for dealers to take tables at a show with the idea of selling primarily, or even entirely, to other dealers. If you claimed to be a dealer you would have likely been asked to produce your CSNS photo ID dealer badge. Interstingly, I did the CSNS show and as of this afternoon I sold one coin to a collector and many more coins to dealers even though I quote the same prices to both for most coins.

 

As always, Sage commentary by Tom. Heck, never knew that......

Edit to add: And I like the fact that you give both sides of the table equal opportunity.

 

Thank you for the kind words.

What I have noticed in the past, and it was true at this show as well, is that dealers are far more willing to pay over any price guide for nice coins whereas most collectors are more tightly wed to their favorite price guide and are loathe to go beyond those numbers. My opinion is that most dealers simply know the market better and can identify superior coins more easily than most collectors.

 

That is true. However in my case it was a run in the mill peace dollar, probably 20 dealers had one.

 

Tom, I know what you have in your stable is exemplary indeed. I'd have you at my back any day......

 

Wow, there's a Cointown in Wiscansin?!

Sounds like my kind of town. I will have to visit some day.

 

Walter Magnus is an awesome dealer. Attends all the shows and sells to other dealers at his marked prices, collectors add 10%. His stuff is so cheap and under wholesale that even at plus 10% it's a great deal. But he considers eBay dealers as dealers. Not show-only registered dealers.

 

You were at the CSNS show today? So was I.