Since this is a want list, there's a woman at work who wants to sell me her 1901 $20.00 Gold liberty head. The problem is she had it mounted so she can wear it around her neck. Is there any way to remove the prongs without damaging the coin in any way? I am debating on whether to buy it because of this. As far as I can recall it doesn't have a mint mark on it. She asked how much it was worth and what I'd be willing to pay. From my research the highest I've seen for a coin like this was 1600.00 It appears to be in original condition and she's had it in her family for 100 years. She said it has never been cleaned. I am just wondering how scratched it might be from wearing it around her neck and handling it with her hands. This would be my biggest purchase yet IF I decide to buy it. She's selling to help with her daughters college education. I will try to get some photo's of it for the CT'ers to weigh in on.
OK a question for you folks posting about coins you want. Do any of you actually have these coins on a want list with a dealer ? And if you do not, why not ?
Braided Hair cents 1839, 1841-1844, 1849 around VF-30 I enjoy the hunt for the coins would be my first reason. Second I would be uncomfortable with having someone else purchase a coin for me and then not wanting to buy it due to something about the coin. Since these coins (in the condition I am looking) would likely be at or under $100 I don't see a dealer being that interested in spending time looking for these particular coins.
What is the benefit of placing a "want list" with a dealer? Excuse my ignorance / lack of experience. It seems like doing so would be akin to saying "Hi Dealer, who makes a living off selling coins and in all likelihood is not making great money in this economy. I really, really want Coin X. Now you know I want Coin X. If you find one, give me a call, because I really, really want Coin X." Sounds like a good way to put yourself in a bad position for negotiating a price. I like to view a coin, not show too much interest in anything in particular, then try to work them down.
Guys, dealers live, eat, and breathe want lists. They are what keep them alive. I would wager that probably 70% of all coins that a dealer buys are because those coins are on his client's want lists. What is the advantage to you ? The dealer does the hard part for you, he finds the coins you want, in the condition you want, at a price you are willing to pay. How could it get any better than that ?
Thats what I thought. I sent a want list to a dealer on this forum and I never heard back from him. I since have found half of the coins myself.
I have a want list with four dealers and have had a ton of luck with them. As much as I enjoy the hunt, often dealers can get the coin that you want much cheaper than you can do yourself. The only problem that I have is updating those lists, I would hate for a dealer to purchase a coin based on what I wanted and find out that I already found one. I update them very often to avoid this. A good dealer is a very valuable asset in collecting.
I can see your point with the want list... I guess it depends on what you collect and how difficult it is to find coins outside the usual internet / coin show venues. I'm a cheap-o and only collect for the fun of it. When I make my mind up that I want to put together a set of, say, Jefferson nickels, I'll pull them from circulation or look at Ebay for lower grade examples. Now, if I was collecting flowing hair coins from the 1700s in AU or better grade, then I could see the benefit of a dealer. But for what I'm doing telegraphing that some chump wants a cheap coin for his Dansco seems like a good way to let a dealer make a couple of bucks off you that Ebay would not.
It's probably jsut easier to go on eBay for a lot of the coins people are looking for. I know for me if I'm looking for a specific coin in a specific grade I always look on eBay first. Really the only times I go into coin shops is if I feel like just browsing and picking up a few inexpensive coins. Another reason may be because some dealers charge a lot for slabbed coins. I know one shop I go into has quite a few Frankiln halves all common dates graded MS64FBL by NGC and they are charging right around $140 for those when they can be had on eBay for under $50 a lot of the time. Anyways the coin on my want list is a 1953 S Franklin half MS66.