Ticked off LCS?

Oh no.....unh unh...i was following all of this until the part about relinquishing my capacity to haggle over a coin. That, in my opinion, is part of the appeal of coin collecting, or working out a deal, or bargaining, or whatever you want to call it. The thrill of knowing and expecting to have to maneuver around the price of a product in order to work it into your collection.


I just had an additional two paragraphs of responses and thoughts lined up with this reply, as I was typing it out I was hearing myself argue from Doug's perspective and what his responses would be. For about 10 minutes I went back and forth with myself (as myself) and myself (as Doug) and finally realized Doug was right, again.

In short I just lost a whole debate on this topic against Doug, and he never even knew he was involved in it. SMH.

 

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I do the same thing Larry.....

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Trey? LOL........

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Whats got you all giggly green?

 

I haven't read the entire thread, but you appear to be a high maintenance client for this dealer.

 

Yeah. That seems to be the consensus.

 

I don't unless I am running short on cash and the coin is priced just about what I have left to spend. Most of the time after looking through all of a dealers' cases and selecting a piece here and there when it is time to pay up for my selections the dealer usually discounts one or more of the coins I am going to buy without my asking for it.

I don't know if many dealers have buy back policies now like they did back in the 1970's and 80's. If you needed to sell a coin back to a dealer the standard was 80% of the original sale price unless the value had moved significantly up or down then it was at the new wholesale price level.

 

I personally don't make it a habit of haggling. I just don't. I think they are entitled to ask whatever they want and I need to decided if I like the piece enough to pay that. If I do, then I do.

The one exception to that is eBay when they have a "best offer" option...I always use it and try and get a better price.

But, in an actual coin shop...I think I have once tried to get a lower price and they balked at it. I was interested in buying 2 coins...both cheap. One was $12 and one was $9...so the total was $21. I asked if I could pay with a card and they told me that they didn't accept payment with cards under $50 because the fee was too high (which is actually a violation of their banking agreement...but that's OK). I told them I only had $20 in cash on me and said if they'd accept $20 it's a deal. They got really snippy about it. So, I told them I appreciated their time and I left with no coins.

I probably would have bought one coin if they hadn't been rude to me...but that's life. The dealer had said a little while earlier that they were retiring and closing the store in a few weeks (this was my first time there). I guess they just didn't want to deal with a new customer asking for a $1 off.

 

Getting snippy over asking for a dollar discount? Yikes, now there is a legitimate gripe against a dealer .

Of course sellers have every right to ask whatever they want for their coins, just like a buyer has every right to make an offer. The only time it might be out of line is if the seller has said that prices are not negotiable or firm.

 

Sometimes I will stop in at one of the local coin shops and be looking at the wares, and notice something I like, but darn if I can remember if it is one that I need or already have, so I will tell the shop owner, I was not planning on buying coins today, just stopped in on an impulse, I was looking at this 1863 IHC and darn if I can remember if it is one I need to upgrade or not, what is your return policy?

One place, no returns ever, no exceptions, thank you says I and leave the coin, another place returns are accepted, store credit given,thank you says I and buys the coin, another place, says make a deposit and we will hold it for you, but deposits are not returned if you decide you do not want it, thank you says I and leave the coin.

I have returned exactly one coin, I have other times sold coins to another collector if they are a double.

I think the OP should ask about return policies before buying, that way you know what to expect. Most of the local coin dealers are more collectors than dealers, so many of them are proceeding from a different position than someone who is in the business as offerring a service, most of the collector dealers are just trying to fund their hobby.

 

So all of you who are saying that you don't haggle would walk away from a coin that happened to be priced high retail or just buy it without even attempting to save yourself some money for another coin down the road.

What if the dealer wasn't in tune with current market prices?

Another scenario, you're on vacation and you happen in a coin store. The owner is accustomed to haggling and slightly over prices his coins to add a little cushion to cut into. His price is just on the high side of retail, but within your budget, you all are telling me to just give him the price, even though this dealer is already expecting to sell it for less. Absolutely not.

I work hard for my money and absolutely will not just hand it over without someone else equally working to pry it back out of my hands.

Maybe I'm doing it wrong, but I'm going for the best price possible on just about everything i buy. I always ask if there's room to work, if not then that's fine, but I am going to test the water either way about 99% of the time.

I mean it's a very simple question, and should be performed in good taste, but I don't think its a bad thing to ask by any means. If a store owner gets offended for me just being a smart shopper then I can find another place to visit.

That's the best thing about an auction. The price is the price.

 

That is why I love eBay

 

Yeah pretty much everything you did. Multiple returns. Acting like you are buying a new car and not a $70 coin. If you are this concerned buy from eBay slabbed coins or even apmex.

I have no problem with the concept of haggling. When I go to Vegas coin shows and sell to the dealers I have to give a price first and sometimes I'm firm and sometimes not. I don't expect dealers to always pay my asking price. I always listen to counters. I'm never offended. Business is business. And I disagree with Doug about negotiating. When I'm at a show I'm not there to make friends. I have never had anyone tell me they were offended or refuse to do business with me for counter offering. I have never had someone pull a coin back and raise the price on me for countering. As long as you keep it professional, not complain or make uncalled for remarks most dealers won't mind and if they do it's their issue. Every non bullion coin at a show is a negotiable event and every dealer should expect a little countering. They might never accept a counter but at a show they expect to be asked in my opinion. Kind of like the cocktail girls serving drinks at casinos. It is considered rude to make crass remarks to the girls about their good looks but they expect it day in and out. They don't take home every guy commenting on their bust size but they don't lose sleep over the "counters"

But I have had multiple events where I did counter on something and got a better price. I even freaked my wife out by haggling in one of the high end malls in Vegas for my watch (fashion show mall) And I got it for my counter. My wife walked away from me in shame but freaked out when they took my offer (80% list cash right there and now) and told them not to encourage me. Saved me $200. I remember going to Tijuana when I was 12. Everything was $30 until you started to walk away. Then prices changed.

As an aside the walk away counter I have found is the most effective. Act interested then waiver. Start to walk away. If they don't give you a chasing offer you can always come back later without an issue.

 

If you ticked him off then why not do him a favor and just buy a slabbed Morgan on ebay for about half the price and never walk in his store again.

 

I somewhat disagree with Doug on the haggling aspect as well and I think it varies from dealer to dealer. If a dealer likes to haggle and you assume he doesn't, you could walk away from a coin that could have been a good deal for both, just because you think the price is firm. I think it is up to the dealer to make that call and make it aware by putting up a sign so there is no confusion.

 

Thanks again for all of the opinions and advice.

Now that a few days have passed, I've thought about it quite a bit.

With all due respect, I don't see why I should feel badly about this whole incident. I *did*. I don't anymore.

No one was forcing him to take my returns. I only asked to see the Morgans 2x. The steps I am taking are to prevent such returns in the future (Not that he would extend that courtesy to me anyway).

If I want to take pics so I can get a 2nd opinion *before* I buy it, that can only be a good thing. If he doesn't like it, he needs to ask me not to take pictures.

So screw him. Maybe I'll give him more of my money, maybe I won't.

Just to be a better person, I will do all I can to avoid returns.

What ever happened to "the customer is always right"? That doesn't apply to coin shops?

 

Reading all these post make me thankful for the privilege of doing business with my LCD. I have spent a lot of money with him over the years and we have a great relationship. The coins I have purchased from him have always been accurately graded and priced fairly. I have never felt the need to haggle over the cost of the coin. I have learned from the shows that I have attended that most of the coins are overgraded and appear to be underpriced for the grade on the packaging. In actuality once the dealer applies his "discount" you get home with a coin that is priced fairly for the "actual" grade, but no bargain. Since I have learned that, I now take a different approach and have learned to apply my own grade, and then factor the price. In all the years of doing business with my LCD, I have return exactly 1 coin. I noticed a flaw on the coin when I got home that I didn't see at the shop. I returned about 2 hours later and asked if I could exchange it for another coin. He showed me the same coin in a higher grade priced $30 more than what I previously spent. I agreed to purchase the coin at that price. When he rang up the transaction he reduced the price by $15.That coin current value is $15 more than what I paid. He took a hit for my mistake. Am I happy? Yes. Am I now a loyal customer? You bet I am!

One rule of mine. I have never gone into his shop without spending money! If I don't see what I am looking for, I will always find something on the bargain table or purchase some supplies. I leave him a note with what I am looking for and check back later. Another rule, if he and I are engaged in a "non-buying" conversation and another customer walks in, I immediately stop the conversation and tell him to wait on the other customer. If I have already made my purchase, I wave him goodbye and let him take care of his customers.

Maybe I am just lucky, but I think I have a great LCD

 

Do you really need to check every coin you're buying with other folks first? Why not buy a nice coin next time you're in his shop and when it really turns out to be not as 'good' as you first thought you just sell it on eBay? I don't want to be pro or con-dealer, but maybe you should simply avoid any further returns in the future.

 

The customer is always right, applies to any given transaction. You can be right when you have issues with an appliance, a lawnmower, a filling that fell out for the third time , etc. That is a courtesy you receive with a receipt. This dealer accepted your returns, he proved you right on 3 transactions. You are not right on the Morgans because you haven't made a purchase. There is very little in this thread for you to be right about, regarding photos, Morgans, repetitive product viewings, etc. Become a customer on the Morgans, buy them, take them home, then study them. You are not buying them blind. Make a decision, man, based on the same or better buying conditions than the rest of us are used to. Why are you special enough to put this store and its inventory through such scrutiny?

 

Only coins that are popular with counterfeiters and those that cost more than I'm comfortable spending on a whim (and that amount us steadily increasing).