Weird interaction at Central States show today

Discussion in 'Coin Chat' started by bkozak33, Apr 26, 2014.

  1. bkozak33

    bkozak33 Collector

    get anything?
     
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  3. Detecto92

    Detecto92 Well-Known Member

    A few things, going to bed, will do a write up tomorrow. Only got one photo of a booth. I feel somewhat imposing taking photos.
     
  4. scottishmoney

    scottishmoney Buh bye

    [​IMG]

    Buying coins again? Sort of like Lindsay Lohan falling off the wagon, again. I see that future car just slithering out of your grasps.
     
  5. wcoins

    wcoins GEM-ber

    That would have never happened had you carried your reusable mint bag with you to the venue.
     
  6. flintcreek6412

    flintcreek6412 Active Member

    I might have missed it, but did you get the same grade/year coin from another dealer for $100? Of all the dealers that had this coin something must have drew you to this dealer with this coin. Was it a better coin than the others?
     
  7. GDJMSP

    GDJMSP Numismatist Moderator

    At a coin show, for every coin that a dealer sells to a collector, he has sold 8 or 9 to another dealer. For that matter 80% or more of all coins sold in any venue by dealers, are sold to other dealers.
     
  8. bkozak33

    bkozak33 Collector

    It was as simple as it was getting late, i felt it was as good as the others, so why walk the floor again.
     
  9. Conder101

    Conder101 Numismatist

    Or give him your tax resale number/retail ID number. Especially if you are in a state that has sales tax on coins or if he is from a state with sales tax.
     
  10. bkozak33

    bkozak33 Collector

    I believe that. Don't dealers have to get these coins sold to retail customers to make money? If they keep selling back in forth to each other, how do dealers make money?
     
  11. definer

    definer definitely....! LOL

    OK. This may seem like an odd question, but is there any other industry where that happens? Or is it just collectibles? This seems to make me think that the "hobby" is controlled by the dealers and that supply and demand are somewhat diminished as pricing controls for the common collector.
     
  12. bkozak33

    bkozak33 Collector

    The diamond industry maybe. Those things are very common, and controlled to make them look rarer then they are
     
  13. Timewarp

    Timewarp Intrepid Traveler

    bkozak33, I missed CSNS. Where there a lot of paper money dealers?
     
  14. bkozak33

    bkozak33 Collector

    There were a bunch of paper dealers, whats more amazing is how many notes each dealer has. They got stacks and stacks of them. Everything is full retail though, not many bargains to be found.
     
  15. Kentucky

    Kentucky Supporter! Supporter

    And they say perpetual motion is impossible.
     
  16. GDJMSP

    GDJMSP Numismatist Moderator

    No. I have personally see 1 single coin be bought by 5 different dealers, at a higher price each time, and all at the same coin show.

    By being smarter than the other guy some of the time, by being luckier some of the time, and with volume. And there are always some where they break even or even lose money. But overall they make money, usually pretty good money.

    Being a dealer is a cash flow intensive business, you absolutely have to move your inventory, you can't just sit on it and wait. Not if you wanna make money. And as has been said more times than I can count, you make your money when you buy a coin, not when you sell it.
     
    LostDutchman likes this.
  17. GDJMSP

    GDJMSP Numismatist Moderator

    It always has been. But a collector can do the same thing that a dealer does, if he has the knowledge. I have bought many, many, coins from dealers and turned around and sold them within minutes or days for a profit, usually a substantial profit.

    Knowledge is what really controls the hobby, nothing else.
     
  18. GDJMSP

    GDJMSP Numismatist Moderator

    Yeah, they say. But even when I was a kid I made one that never stopped until I took it apart. And last I checked, the Japanese had one that has been running for over 15 years now.
     
    Kentucky likes this.
  19. Tinpot

    Tinpot Well-Known Member

    I wouldn't buy that from that dealer, fairly ridiculous policy imo. The only reason I can think of for the policy is that dealers will waste less of his time looking at the coins/asking questions? Otherwise I seen no reason to want to give good deals to other dealers (the competition), maybe to make connections.
     
  20. GDJMSP

    GDJMSP Numismatist Moderator

    They do it for the best reason there is - because if they don't, they won't sell the coin.
     
  21. Tinpot

    Tinpot Well-Known Member

    There aren't enough collectors that will take advantage of a good deal?
     
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