Thoughts about ANACS

Let's just say that you're a little late on this one, Vic.

 

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I like my name and I want to work on fixing my reputation. You are right a lot of stuff I have for sale is not what I have in inventory. The Morgans the pennies basically everything except an NTC Morgan some 90% and a silver eagle. I started joshs coins in may with $80 which I earned working as a cashier the previous summer. It cost me about $50 and a few headaches to build my site and get it running. I bet your wondering whose coins it is I'm selling. Well back in 2012 I was just starting to buy my own coins and found that I enjoyed selling them as well so I wanted to be a dealer the man who always sold coins to me pretty much became my mentor and he taught me a little about coins but mostly how to negotiate deals and how to be a good salesman. So 2 years later (this past May) I told him that I'm going to be an online dealer I built a site but I need some inventory can you help me out? He said sure and so I would list his coins on my site and he would tell me what he needs to get out of them and then I'd slap on another $5-$10 and that was how I have been making money. I've also sold a few coins from my collection over this summer as well. So 5 months later here I am. I'd like to be able to buy my own inventory because I know I can provide some better prices on my site but I don't have the capital to do so. So now I'm looking into getting a business loan from the bank so I can break free and start moving forward. Am I dealer? I think I am a coin dealer is a person who sells coins for a living and that is what I am doing. A lot of people here would say that I'm not a dealer because I am not lostdutchman I don't have a physical store and I don't move as many coins as he does.

So there is the truth and nothing but the truth I thought it would be good for everyone to know that including the new guys here. I do think that I provided some good information on this thread though.

As for the dealer sash it would be cool if I had one and the only way you can get one is if peter lists your coin company in the directory. So far it looks like he doesn't want to do that. I think he is just as fed up with me an stupid stuff I did before as the rest of you are/were but it will get better as I stated before Vic.

 

I like them because I can get Dan Carr items tombed

 

Now doesn't that feel better? Thanks for being honest about your situation. Be who you are, constantly work to be a better person and always treat others the way you'd like to be treated. You'll feel a whole lot better about yourself.

I like your entrepreneurial spirit and your passion for this hobby.

 

Josh, in my opinion, and probably many other numismatic collectors, you are not a coin dealer. You run a website that brokers coins for a B&M store owner.

I've always viewed coin dealers as the following:

1) Knowledgeable. They know their area of expertise and have enough experience to know when something is outside of their realm.

2) Accessible. This works both ways: A dealer is accessible by others in the field and has access to others who have more expertise than they do. On this point, being a member in good standing on CoinTalk would qualify, as we have many members who have a broad wealth of knowledge and experience.

3&4) Time & Scale. You don't become a dealer just because you open a coin shop. A dealer is someone I can turn to knowing they will have reasonable inventory and the ability to find rarer items.

5) Trust. A dealer is someone trusted by the community that they are deemed to have expertise in.

Now, some may argue that there are bad dealers and good dealers. That's true. However, I do think that many would agree that a coin store owner is not necessarily a dealer, and a dealer may not have a physical storefront. That's why there *are* online coin dealers. There are also online coin stores. I don't think a dealer would publicly list severely overgraded coins on their website (AU listed as Gem, for example), as it would significantly hinder their business and reputation.

I guess, for me, a dealer should either be recognized by a recognized organization (ANA, PNG, WINS, etc) or forum. Without someone acknowledging you as a dealer, you're simply an individual selling coins. I could make a living selling coins (I think), but it'd be a pretty crappy living of making only $70k a year. I wouldn't call myself a coin dealer, in that case. I'd be some guy who sells coins for a living. Now, if I dedicated years in education and networking to develop contacts in the field, maybe I could bump that number up to $200k+. At that point, I'd feel comfortable calling myself a coin dealer, since I'd have enough inventory and volume to ensure I'd stay in business, even if sales slowed down for a year or two.

 

If you consider price disparities like a steel cent graded ms65 vs a ms66 or 67, you can't go with Anaca or icg. Dealers won't pay more based on the grades from these TPGs. You have to go with pcgs and ngc for these kinds of situations. I don't think anyone but suckers would pay top dollar for coins graded by Anacs and icg that are above ms or pf 65. Not to say that these aren't good companies, it's just that most dealers wouldn't give you top dollar in the higher grades, or basically it's how the market is. I've heard a few people stick up for the second tier companies, saying they just don't get the higher reputation because they don't have as many ads, etc. Maybe so, but you still gotta go with the market.

 

Just for the record I sold coins for about 4-5 years at vegas shows. On average I would usually sell from 2000-12,000 gross my best show. Maybe average 7-9% profit. I had inventory at anywhere from 20-80k. People on this board have both seen my coins and either bought or made offers.

I am NOT a coin dealer. I do not have the inventory. I definitely do not have the knowledge base or experience. I do not have the contacts or recognition.

All I have is some free time, an iPad, some money and local shows. While I could probably describe myself as a vest pocket dealer I would not. I may have done vest pocket sales but I do not have the knowledge or experience to comfortably wear the label dealer.

One thing I have learned in life is titles are earned with knowledge. Without the knowledge wearing the title simply makes you look like a fool and not respectable. It is just too easy to tell when someone really is the the real thing and when someone is pretending. All you have to do is wait until their lips move.

 

No comment.......

 

Then why the comment?

 

Doctor recommended therapy, must type a daily quota of posts on internet, that's why he usually keeps them so short.

 

My point was I have done more business then some wearing the label dealer but I am not a dealer. I was just following up the prior post.

If you have something you want to say please go right ahead and say it. I just can't promise that another mediator won't immediately respond on the board to tell you I was right a second time today.

If your shy feel free to pm.

 

Is it just because you don't buy slabbed coins ? Or another reason ?

 

Geekpyrde only buys CAC coins. ANACS doesn't get CAC stickers

 

That's never a position anyone wants to be in my friend.

 

I just thought , you're limiting yourself from some really nice coins usually at a discount . I like CAC , but I think they should sticker anything that is solid for the grade or high for the grade . I mean if a PCGS coin qualifies for a sticker and I have that same coin graded by ANACS , that coin should still sticker .

 

You have a certain definition of dealer that you have in mind. To me, you r or were a dealer before. You don't have to wear that hat all the time, and you can wear different hats at one time. Technically and generally, you were a dealer at those shows. I've met ripoff dealers, smart ones, dumb ones, old, young, new, etc. The dealers you have in mind are probably more professional, knowledgeable, etc. That's not all dealers though

 

Everyone has their own definitions. The point I was trying to make to those youths with dealer aspirations is that even though I have bought and sold some coins is I am not a dealer nor knowledgable to be called anything beyond skilled novice. I know my place here and I am not the guy who knows how to do this for a living. I know how to speak as a computer and internet savvy collector and have strong opinions in these realms but all I was trying to do was give an example to our more youthful members that even if they did the numbers I have that they still would not really be coin dealers, as I am not. I was not trying to say anything about how awesome I am. Mainly because as much as I like to think I'm awesome in every arena that in this particular arena I'm just not a professional nor am I an expert. Just a very vocal and opinionated collector. And not a nice man according to some.