What Dealers do that you dislike

There is a lot of people out there, myself included that are pretty mad about what happened at the ANA chicago show over the JFK Gold release. A lot of collectors ended up getting screwed and greedy companies took advantage of the hobby.

What things do dealers large and small do that you dislike?

What things do dealers large and small do that you do like?

Please share your absolute best and absolute worst experiences below.

 

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I went to two coin shops within a few days of each other with my then 6 year old daughter. The first place I bought over $300 worth of coins. I asked if he could throw in a $2 pack of Pokemon cards for my daughter. He practically called me an idiot for even asking. If I hadn't already paid for the coins I would of walked out.

The second store I bought nothing. The owner, who thought he was going to get rich by investing in Beannie Babies, gave my daughter a huge box with at least 100 of them in it. He also gave her a holed buffalo nickel on a chain.

 

I've said quite a lot but can sum it up in one sentence. I want coin dealers to act like mature adults, be professional and specifically not "letting the customer know what he did was an insult".

Please act like a mature adult and I'll give you all my money. Very simple.

(Putting prices in view either on slabs or on a list i can look over is a huge plus)

 

What does that mean exactly?

 

I dislike- Impatience. Dealers that huff and puff like you're wasting their time if you closely inspect coins rather than buying them at a glance. No, Mr. Dealer, I don't automatically trust the grade, attribution or statement of authenticity you present.

I like (rather, love)- Dealers that when handling world coins they are not experienced with simply price them according to Krause instead of doing their own research.

 

Ya know, threads titled like this one attract specific members to respond with regularity. I only wish I could produce an attractant capable of duplicating these results when out hunting deer.

 

Buying just plain stupid, under spot, -10,20% but selling say +20-30% over spot for junk coin, no negotiation, learn to dicker a bit, nothing is written in stone.
That goes for all coin.
And hovering over me while I look through the bins.
Slabs you can hover.

 

Won't work, Krause is great info, but horrible valuation.

 

First time on a subject as this, hmm. I hunt black powder from 25 meters, to live is to risk. I'm late 50's, lighten up.

 

Exactly why I love dealers that use it for valuation

 

How about experiences with online dealers and mail orders like littleton coin?

 

Did you have a negative experience with Littleton?

 

I like patient dealers that treat me like a human being. not some stupid person that doesn't exactly everything about coins. I hate dealers that make me feel like I am wasting their time. I dislike dealers that will not work with me on a price of a coin. nothing is set in stone. I hate feeling pressured to buy a coin too.
I do like friendly dealers that want to help you. that want to teach you more about coins with out making you feel dumb. I like dealer discounts if I buy multiple coins. I like dealers that offer a layaway plan. yup I said it...payments on a coin. lol some of you guys are rich... I am poor. lol I like dealers that know what I am looking for or might be interested in later because of what I have bought from them in the past.

 

in my observation there are different types of dealers.

you have the large dealers - they have a place of business, online store, they may or may not attend coin shows, and they have several employees. these types of dealers usually have employees that have experience dealing with costumer service.
so you might get the robotic "great service" or the robotic "cold shoulder" depending on how you act. they deal in volume so they try to keep things running smoothly.

you have the Mom and Pop dealers - might just be a married couple running the business them selves. I find these mom pop operations a little over priced at times. maybe because they don't sell in volume they charge more of a premium.

then you have the "in-between" dealers - they are not large but they have a couple of employees and some overhead. I find this type of dealer the best to deal with because they need to move product and have time to deal with you.

of course buying from another collector can be a better option at times.

just my opinion, I'm no expert.

 

It would be interesting if the question was the exact opposite.

"what type of customer do dealers dislike ? "
" what is the ideal customer for dealers ? "

I'm curious what dealers would say.

 

Probably the worst thing a dealer can do to me is ignore me.
It's not unusual for them to take a quick look at me then go back to doing whatever was previously interesting them.
Apparently I don't look like a serious buyer.
Their loss.
I'll be looking for an 1793 Flowing Hair Large Cent/Wreath in Fine at the Whitman show this weekend.

Certain dealers stick out in my mind as taking their trade seriously.
That means your presence gets acknowledged quickly even if they can't get to you at the moment.
Gary Adkins, Andy Skrabalak and Chris McCawley quickly pop to mind.

 

I hate dealers that insist on making a profit, instead of selling to me at the same price that they paid themselves.

More seriously, at the big local coin show this summer I asked one dealer what he was most looking to buy. He actually gave a short and unusually specific list, including nicer-grade SLQs, early Walkers, and S-mint Buffalos.

It just so happened that I had an ANACS AU55 FH 1917 T1 SLQ, a nice VF or so 1919-S Walker, and a darkly toned but original and probably high-VF 1925-S Buffalo. I brought them to him the second day, and we had a fairly long discussion about each coin -- good and bad features, likely grades for the two raw coins, and so forth. He made offers that I thought were fair. I know I could probably have gotten more on eBay; it's possible that he was seeing something I wasn't, and that I could have gotten a lot more on eBay. But because he was so specific that first day, and so engaged the second day, I was happy to sell to him.

Another dealer at the show had a sign up stating that he was looking to buy PL and DMPL Morgans. I have one, a common-date MS64 in an old holder. I figured the old holder would increase its market desirability. He agreed that he likes old holders, and that it was a pretty coin, but he also pointed out that standards for PL/DMPL have tightened since the old-holder days -- and, looking at coins from his inventory, it was clear that this one didn't measure up to most of the others. He still made me an offer close to what I paid for the coin, and he was very frank about what he'd expect to get for it (something like $70 to buy it from me, selling it for maybe $100). I decided I liked the coin better than the offer, but I left with a really positive attitude toward the dealer, and I'll certainly give him priority if I'm looking to sell any other coins in his specialty.

 

• When i tell a dealer what i'm interested in, and instead of handing the box over to let me look through, just looks through the one he thinks I'd like and puts the rest away.
• Asking to see a particular coin, and the dealer takes 10-15 seconds looking at it under a loupe and checking his greysheet before handing the coin over.

 

Dealer pet peeves:

1) Dealers who make believe they know more about everything in their case than do the buyers. If you are a specialist dealer (like the PennyLady or Rick Snow) then that's probably true. But, for dealers who have a smattering of everything, sometimes the guy across the table asking questions and willing to purchase your wares knows more than you do about the coin in question. Get over it. You can't know everything about everything.

2) Dealers who either leave their booths unattended or act like they are unattended. If a dealer won't even make eye contact or acknowledge that I might have a question about an item, that is a huge turnoff -- and will get that dealer $0 from my wallet. If you don't have any people skills or business sense, then maybe you shouldn't make a living of retail (coin or otherwise) sales.

Dealer pluses:

1) Dealers who know their inventory. If I am looking for something specific, it is nice when a dealer knows immediately if he can help me or if he doesn't have anything that fits the description. Similarly, if I ask about something esoteric in a dealer's case, it always clear if the dealer has done his/her research or if he/she is flying by the seat of his/her pants. One dealer that always astounds me is John Kraljevich. That guy has an encyclopedic knowledge of his inventory. One of the most brilliant younger numismatists around.

2) Dealers who are personable, friendly, social, but not awkwardly "hawkish"...I don't like to be hovered over, but I like a dealer to be available if I have a question or want to see a coin. I can usually get a good "feel" for a dealer's level of confidence, knowledge, social skills, and personality within 10 seconds of meeting them. The phonies are pretty easy to spot.

Final thoughts: Putting coins in a case and buying a table at a coin show doesn't make you a dealer. Building a customer base, knowing your inventory, and developing trust and relationships is what makes you a coin dealer. Any "joe" off the streets can buy a few coins and put them in a case.

Analogy: sitting in the pilot's seat of an airplane doesn't make you a pilot (or captain).