To Settle An Argument...

I have to respectfully disagree. I would say the above post is either an extreme exageration, and a stereotype based on a few bad experiences.

 

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Just comes to show ya' sometimes dealers, CAN be scammers

 

But not all dealers... There are very fair dealers out there...
I've had bad experiences, buying a peace dollar MS60 for $30 (silver @ it's peak @ summer time) and looked at it through a 16x magnifying glass, and it was EF45-AU55.

 

First off welcome to the forum. Second yours is one of the most horribly shallow and uninformed statements I have read in some time I'm afraid.
Judging an entire group by the example you have seen is a shame. If your dealer is that bad then make it so he is not your dealer. Read on.

Amen Tom!

Now to the original question it WOULD really depend on the dealer and whether or not they wanted, or needed that coin back.
If you get a new car, drive it for a month then decide you don't like the color do they just furnish you with a brand new one of the same color? Extreme analogy but I'm making a point.

If you bought a $200 coin and it was the last one that the dealer had you might get close to what you paid IF he needed it. You might get back the full $200 to be applied to another coin.

If it's a $200 coin but he has 15 more you might get just $100 depending on Greysheet in many cases.
Answer is it could be all of the above.

As a buyer one should realize this and having a good relationship with your dealer helps. They are not in business to constantly revolve the same inventory. Getting in new and selling it is how money is made.

 

Good relationship would be key.... I don't have any relationships with local dealers, I do most of my buying on ebay, it is just cheaper that way. My dealers are all expensive, MS62 Indian Heads $10, Common Dated for $4000, AG Barber Dimes, $10, Common Date Wheats G, $4... WOW!
I don't like my dealers all that much...

Now, my original argument was that dealers are very fair, or some are... So I'm guessing in other parts of the U.S. dealers are way fairer than this?

 

Tmoney there are good and bad dealers everywhere just never lose faith in all because of bad ones.

Yes, I work in a shop but before I did there were five dealers within easy striking distance of my house. I really only frequented two.
One I work for, the other I still see and even they have "bad" days. We all do but if they know you it really does tend to even out.

 

I don't really have a whole lot of a relationship with any dealers. But the only one near me that I visit seems very fair, at least in his pricing. Other dealers are ones that I deal with at shows. I have met some real jerks, but even more that I have enjoyed doing business with. Really it comes down to knowing what you're looking for. If the price is too high, don't buy. If you're selling and the offer is too low, don't sell. Its as simple as that. And if you get to know that a dealer isn't dealing fairly, stop going to his shop. Its not like anyone's twisting your arm.

 

Geez you " coin dealers " cry foul when we complain about low ball offers, then you cry foul when we want to offer you less then you want for your coin in a shop! Dealers for the most part are archaic there role has changed in our society! Once upon a time there was honor and knowledge in the trade now from what I have read in a few of these threads you mostly trade stock between yourselves!

As far as I can tell the only good service that you brick and mortar types provide is that for the time you have a coin show it does encourage people to spend extra cash into a community!I.E. restaurants and gas stations that sort of thing! Gets the family out of the house for the duration of the expedition!

I have no problem with a man making a living or living a comfortable life, but what I am hearing is because you pay for a space, you are entitled to pay mostly melt because you know what we are all learning that rare coins are a myth!I think most of you are upset that with the internet you are actually having to work to make a living!

 

Tom, Clembo,
You guys nailed it. I am not suprised at the cynical attitudes, but they have been popping up more and more on this site.

Folks, get a dealer, build a raport and take it from there. They are not ALL crooks, there are many good ones out there.

I have bought back coins AT my selling price before, and at or near many times. Check these boards. There are some great dealers here, get to know them.

 

we've also picked up some very cheery new users of late, so don't distress too much

If it was easy to make money as a coin dealer all these clowns would be doing it rather than complaining about the buying practices...right....

right.

Ruben

 

Yes Jack I agree TOTALLY with your take. I understand that these guys are trying to run a business. They "you" need to turn a profit somewhere to run that business. Fine, I have no problem with that in the least. Having said that wouldn't you be interested in NEW customers coming in to your shop? Not acting like your interupting? Yes, I'm fairly new to collecting, am I not the kind of customer you want in your shop? Well the dealers around here don't seem interested at all. They could care less. Now, I don't ask STUPID questions, I have read all or most of the books that target what I want to collect so I have a clue but if I walk into your shop and you don't make me feel welcome. Answer questions, not look at me like I have 3 heads? Well I'll just take my money and my coins and go somewhere else!
Ok, here we go, if anyone out there can help me out. I'm in southern New Jersey, WHO do you deal with? I'm at a total loss. I would like to collect Lincoln Cents. But there is NO ONE around here that will give me the time of day. Can you help?:headbang: I guess because I can't afford to spend a fortune I'm not worth the effort. Any info would be great!!!!!
You have no idea how frustrating this is for me. :headbang::headbang::headbang::headbang::headbang:

 

where are you located?

Ruben

 

I take the time to help out Young Numismatists all the time.... I had a young boy in the shop last week. He is 12 years old and has been collecting since he was 8. He asked all sorts of questions and I showed him many many good books on coins and just about all of my inventory because of his thirst for knowledge.

I was extremely busy that day helping other customers but you know what....that little boy will probably be a faithful customer for a long time. I go out of my way to help new people in this hobby because not long ago I was that guy.

I guess all I am trying to say is that not all dealers are bad, and yes they get a bad rapport. Mostly because there are more than a few fly by night bad apples that shouldn't be allowed to call themselves the title coin dealer. More like coin crook.

If you need some help finding lincolns, Arizona Jack is your man. I know it is not the same as having the coin in hand but he has probably one of the best return policies I have seen to date out of any internet dealer!!!

I hope I have helped shed a little light on this subject.

Tom

 

I'm in southern NJ. Just across the river from Philadelphia. Sorry if I have come on a bit strong here but this is something that has bothered me for a long time.

 

there are a number of decent dealers from that area which I met at coinfest in Connecticut. Do a net search or check out the coinfest website for coin dealers from last years show. If you were closer to brooklyn i'd put you in touch with Frank, my friend here in Brooklyn.

Ruben

 

I want to come to Brooklyn!!!!

 

as does all right thinking people... :bigeyes:

 

I just want to get some good grub!!! and meet the CEO of course.

 

Both can be arraigned. Contact my secretary...my son somewhere on this website.

Ruben

 

I have no doubt there are still some good brick and mortar dealers out there! If that's you then this is not about you! However if you try to defend the bad dealers practices, then you put yourself in the crossfire, no longer an innocent by stander! We are all human, we want our cake, and want to eat it too! As to all these clowns wanting to be coin dealers, really why on earth would I want to be like you? I enjoy waking up in the morning and looking myself in the eyes, being proud that I can support my family without having to worry so much about my reputation!

As to who I am, quite simply I am your competition! Don't need a fancy store front or to be included in the good old boys club, recycling coins and trading cash with cronies, as old as the coins they peddle! These behaviors benefit me because while your stuck to your chairs laughing with your friends I am closing deals! Thank you it's been fun!

P.S. To those less then reputable dealers turn out the lights the party is over!