If I go to a coin show or store with grey sheet in hand and make a "reasonable offer" on some proof and mint sets or single coins, what % over greysheet would be reasonable? I do not want to insult the dealer nor embarrass myself. Do dealers consider offers more at shows than in their store due to the competition?
It depends on what you're buying and how you're buying it. If you're letting him give you a set of each date then figure you'll probably pay at least 20% over ask. These sets are starting to sell at retail now days so they aren't so quick to just let you take what you want at ask. If you're poking through the sets and picking out just the best few then he'll probably want a price well in excess of retail. If you ask for five or ten of each then 10% over ask should be reasonable. If you just want to buy all of particular dates then ask and if you offer to take everything then you might get them at bid if he doesn't have retail customers. Remember that most dealers still get more of these in then they have customers for so they have to wholesale them off from time to time. This is the source of most of the coins that the big retailers put into the date and mint mark sets. Now that more of these sets are getting picked off by retail buyers it will be interesting to see how the retailers make up the shortfall. It could be especially interesting since the retail activity for the date mint mark sets is also picking up. There are BU rolls of many of these coins but it's far from all of them.
Sounds like cladking has presented his case pretty well. If I may, I'd like to relate my own experience with buying from dealers. It almost never fails, if I only want one coin that a dealer has, he will always tell me that he has to have the price marked on the holder. On the other hand, if I am buying several coins, and spending a fair amount of money, I won't even have to ask for a discount. The seller will automatically say, "Forget the price on this coin. I'm letting you have it for $X.xx. And usually he will start throwing in modern Mint and Proof coins to sweeten the pot. So, I think the point is, it's usually to your advantage to buy in bulk. I know we can't always afford to do that, and some collectors, (including myself) prefer to take their time and buy one coin at a time, but, I can only tell you what I have experienced with the local dealers in my area, and the ones I have come to know through mail order correspondance.
Another beaut to pull is when you have two coins here and two coins there and you are humming and arring about which two you'd like to take. Do it long enough and the dealer will usually let you have one slightly cheaper to get you to actually make a decision so he can get on with what he was supposed to be doing. It's a good trick, i never actually tried to do it, it's just something that comes to me naturally. Well i travel a fair distance to my 'local' coin shop, i spend about 2 hours getting there and 2 getting back and i spend about $35 for the priveledge on train fares. I only get there about once a month if that and thus i really have to make sure i've scrutinised everything in the shop of interest, left no stone unturned incase i miss anything. I am also on a tight budget and i have to think about what i purchase carefully... there's always about 4 coins there that i need and i can only afford two of them! I have to really give it some intense thought. I think the dealer kinda sighs to himself when i stroll in, but he's always been patient and i do spend about £200 there a month. So it's not the kind of custom he can do without.
I'll agree with what has been said so far. But I would make one additional point that was touched on but not really explained. That's about picking through sets. I have always been something of a picky collector - just buying the set to say I have it was never quite good enough for me. I always wanted to find the nicest ones out there. So I might pull up a chair at a dealer's table and spend an hour or more going through his sets - depending on how many he had of course. But if I did - I would always buy at least one. And when it came to the cost - I wouldn't even bat an eye - I'd just buy it. I didn't care if it was 10% - 20% or 30% over Ask. To me it has always been worth it to get the best I could find. Now not everybody looks at their collection with that attitude. And if you don't - that's fine. But when it comes to Mint & Proof sets - except for the older ones - there are still lots of them to be had. But truly nice ones are a bit more scarce. You have to remember these sets have for the most part been bought & sold many times over the years. And many of the ones with gem coins in them have been broken up. So when you find a nice set - it may well be worth your while to spend that bit extra. You'll be glad you did some day down the road
This is a subject that is often brought up and let me share a view from the dealers side of the table. Walking in a store or at the show with a greysheet is a good idea, but do not let it be the be all-end all. For Mint and Proof sets, the greysheet is an excellent guide as the sets are sold based on the date. For single coins, grades and eye appeal become too much of a factor for most collectors to effectively use it. GDJMSP has a wonderful point. Buying the best that you can find WILL always make you much happier with your purchase and it will also get you a better price when the time comes to sell. For most Mint and Proof sets a very small percentage (10) above ask is usually a good asking price. For the top performers like the 99 proof set, unless serious bulk is being bought, expect to pay retail. Hope that helps
Hey no matter what the grey sheet says a dealer paid a certain amount for that coin and has a set price in his mind of what he is gonna sell that coin for and most dont care if they sell it today or tomarrow. Better offer a fair price if you really want the coin. I know I am not gonna sell a coin and loose money just to say I sold a coin at a show.
