What Dealers do that you dislike

Many good responses above. Generalizations about dealers aren't very useful, but I choose not to be a victim and attempt to spend my money carefully and where it is welcome.

 

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I would think it kind of does -- if the plane is in the air. (For better or for worse.)

 

Changing website addresses.

 

This should depend on what types of coins we're talking about, and if the dealer is presently able to observe a customer digging through the box. If the box if higher value coins and he's unable to keep an eye one them (taking care of other customers, etc), can you really blame him? Would you be okay with handing you collection over to an unknown to go though behind your back? The reality is that while you may not, some people do steal when given the opportunity, so it's only fair to look at the big picture, especially when talking about easily pocketable merchandise.

On the other hand, if low-dollar material and the man is not busy, and you're not someone who wants to spend hours digging through his inventory searching for that great pick (and will walk away without spending a dime if you don't get it), you have a very valid point.

Most dealers are not able, off the top of their heads, to remember every single coin in their inventory, so taking a few seconds to double check isn't unreasonable, and refamiliarizing with a coin before offering it to a customer isn't always a bad thing, especially since potential buyers are apt to spend much more time doing the same.

 

Some things some of my favorite dealers do: They know me by name and talk to me like we're friends. They offer me free drinks while I'm there, and one time even bought me lunch when they were going out, even though I usually spend less than $100 on my visits. They offer me discounts without me asking for them. They have big bins of world coins that they don't mind if I spend hours digging through.

I don't like dealers who don't have their inventory on display and you have to ask for everything, because I might not know what I'm looking for. I don't like it when they don't have bins of cheap world coins, or the only way I can buy world coins is for them to look every one up separately for the prices.

 

There is only one thing that I carry against certain dealers. These dealers, have collections that their clients are trying to complete as well. These clients search auctions and shows for these coins, but the dealer is bidding retail against them to get the coins for his own collection. Then wants to turn around and sell his cast offs for more than what he just bought the replacement for. I have only seen this situation in the series I collect, but I bet it happens in other series. Problem is, there are people that will back off those auctions, and then buy the cast offs! It's the only reason that model works. I refuse to be part of it.

The one other thing that gets me, is I know that certain dealer is hoarding a large quantity of those coins in certain grades, and they will bid up any problem free auction to keep the value in their coins. And if they win, the just mark them up and add them to inventory.

 

I don't think I'm going to give you this one. If you are willing to pay more do it at the auction and bid higher then the dealer. If they buy the coin they can choose to sell it at whatever price they want. If you don't like it or agree most major auctions have internet bidding options so you don't even have to fly there in person.

 

I am pretty sure I didn't ask anyone to give me anything...but I digress.

A typical situation with this dealer. An OK example of a better date coin came to auction. Auction results for the grade were around the 400 to 500 dollar range. That includes really nice pieces and very recent auctions as well. This dealer needed the coin for his set. He ended up bidding up until the coin brought nearly 900 dollars. There was nothing special about the coin. Not the condition, no variety, other than he needed it. I knew it was him from auction results, and he even admitted to it on the phone.

I understand where you are coming from, but I think in this case, it's a bit above bidding on MS63 Morgans.

 

The only thing that a dealer could do that I would dislike is to patronize me, and to be dishonest. I have occasionally had dealers that argued grey sheet prices with me holding the latest edition in my hand, when I attempted to bargain (e.g. "You don't know what you're talking about--that information is old."). Another thing i don't like is "price coding" on a coin--not disclosing the price openly to the public. If I want to buy a coin, I want to know the price upfront, and not play games. Then, I will either buy it, pass on it, or make a reasonable offer. Just don't waste time trying to deceive me.

 

I don't think I've seen more than a handful of examples of retail price in code. When code appears on a coin, it's almost always what the dealer paid for the coin.

 

Yeah, usually. Around here, you get a lot of retail price coding as well. I have no problem with a dealer not disclosing what he/she paid for the coin--that is their business, and part of the profit margin, which is fine. I just like to see transparency in sales with the public. It usually isn't an issue to me, as I deal with dealers that I know well, over years of collecting. For people newer to the hobby, it can be a bit intimidating. I wouldn't expect you to have dealt with it much, as you're from the "very professional" school of coin dealership. This is mostly with lower-end operations.

 

What I gather from this thread is that collectors of US coins in the US have a tougher time with dealers than collectors of non-US coins in the US.

 

I haven't dealt with a lot of dealers as I never attended a show and am primarily an auction buyer but the few I've done business with have been great all those that I've bought coins from have been professional and a class act. several have posted in in this thread already. I'm sure there's rotten apples out there but those I'd avoid. I tend to be very loyal to customers and dealers that have treated me right not just in coins. For those that don't know me I'm also a nationally known dealer of early American furniture who just happens to love coins as well. The coin dealers I've bought from have treated me in the same manner I try to treat my customers for antiques with professional knowledgable and willing to share it and courteous and myself as a customer try to do the same

 

Several months ago I bought a Maple Leaf at a coin shop because the premium was a dollar lower than for an ASE. The dealer explained to me that Maple Leafs have fewer middlemen and therefore are cheaper, so I was happy to walk out of his shop having learned something new.

A few months later I was at another shop and was surprised that their Maple Leafs were more expensive than ASE's. When I asked why, the dealer told me that this is because they have more silver in them, as they are .9999 fine as opposed to .999 for ASE's.

Even if the dealer had been rude and just told me this was his price and to take it or leave it, I wouldn't have been too upset, because I respect his right to charge whatever he thinks someone will pay. Just don't insult my intelligence with a total crock of bull. It scares me to think how many other ridiculous statements are made to customers in coin shops every day.

 

This annoys me also. As if .0004% silver purity makes any real price difference. It's all BS marketing and an excuse to mark up something that is really not worth anything more.

 

I was buying a fair amount from a dealer. He would send email updates on new coins. He sent a couple with his lowest price he could do. I declined and a day or two later the coins were listed on his website for less then what he quoted me. He has gotten no business from me since.

 

Here's my philosophy, and it applies to all human beings.

We choose how we feel about people, events and things. I choose to NOT allow others to bother me. Otherwise, I have given other people the power to control how I feel.

Example: If you allow traffic jams to piss you off, you will always be pissed off.

Corollary: SW, SW, SW, N. Some Will, Some Won't, So What, Next!

 

One thing I don't like is when a dealer overprices everything, but is probably willing to haggle. Too much like a used car salesman. Same thing goes for a lot of sellers on ebay who overprice their lots and enable best offer.

I just look at the price, decide against a purchase, and move on.

 

Those who offer coins at high retail with huge mark-ups who are running a one-way operation. If you buy raw material from them represented as "X" and the material comes back "X--" they don't want to know about it or have any responsibility for what follows from their being .

Any high pressure sales tactics, dishonesty, naked greed.

The best coin dealers are those who don't need to be greedy, have had good professional jobs and therefore treat numismatics as a hobby and a win-win.