Weird experience...

Went to a flea market about a week ago, and been meaning to talk about my experience. There are tow dealers there (if you want to call the other one a dealer) and after I did business with the other guy, I go to this guy. I show him a 44 P nickel that was easily BU, I personally give it a grade of 64, chance at a 65. I ask how much would he buy it for. He has to go to his price guide, which I can respect, but then I notice it is an old coin magazine, forget it's name. Well anyways, he looks it up, and he say $4. I kind of look at him weird and I go "For BU?" He goes yeah look. I go to the MS-63 for BU and it said the price I was looking for. I go but that doesn't say $4, and he says look at MS 60. I say "But doesn't BU mean MS 63" He kind of gets annoyed with me and says, No, Bu is MS 60, and anything after that has to be graded for it to get the right money. First off, what got me ticked was he got annoyed woth me when I knew what I was talking about, and he starting acting superior and all in a way, using different coin lingo words I guess he didn't think I knew. Talking about this company called PCGS and how they are the best in the league, etc. It's like, give me a break. So instead of arguing with him, I just said thank you, and have a nice day, and left. My thought is if he wanted to get that way and all, he doesn't need my money. Am I overreacting? I'm not mad, just a little frustrated. He was talking to me like I didn't know hardly anything about this hobby. And doesn't BU mean MS-63, or am I totally wrong? Sorry for the rant, he just got me a bit frustrated. I hate it when people get all superior and all with me, or anyone. Please tell me if I am just being totally ignorant, and jumping on something that is nothing. I've gotten over it, just gets me a tad upset when I think about it, lol. Pardon me please, just needed to get this out. Take care all.

Phoenix

 

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BU means uncirculated, there used to be BU, choice bu (which was 63 if i remember right), gem bu, and select bu, but it was all just as subjective as 60,61,62,63 ect. If you didn't like his price, don't sell. easy, maybe he was trying to get a deal, maybe he is just that thick, doesn't matter, nothing says you have to sell

 

You tell him!! Us cointalkians know what were talking about!

 

If you don't like him, don't deal with him. That is that simple.

As for BU, both Heritage and PCGS define it as uncirculated. I will swear the last time I looked it up, it was defined as MS-64.

 

First, don't let him get to 'ya. It's sorta his job

Second, about grading. The Red book usually lists AU-50 (and sometimes AU-55), then jumps to MS-60. And as bqcoins pointed out, there appear to be several varieties of BU. Based on the Red-Book, I would have to assume that BU starts at MS-60

 

Dont let him bother you. Impolite need to be shown the high way.

 

BU means brilliant uncirculated. Uncirculated starts at MS-60. If a coin is graded properly then BU can be MS-60. Correct me if I'm wrong but this is what I go by.
Now I must say I have bought coins that said BU on the 2X2 cardboard holder only to get them home and discover some wear.

 

I've always thought that BU was MS60.

 

My advice would be to forget it ever happened. You never know one day he may have the coin that you just have to have.

As for BU it was used some time ago to stand for MS 60. Some of the other designations where Choice BU, Gem BU, Superb Gem BU, Brilliant BU and and other BU terms that they used to sell coins.

Lou

 

Using a outdated source to buy coins is only good for one person(the buyer) The would tick me off the most.

 

Welcome back Phoenix!

Wonder how many others he managed to scam with his outdated book.

Next time, take yours along "here, you can use mine"

 

Flea Market Dealers

Hey Phoenix I have a few points here and hope I don't offend you.

First thought I'd like to say that the guy souded rude. I would have just gone on my way as I doubt you would really have any chance of him raising his offer.

Now, I'm sure there are exceptions but I don't really think of flea market coin sellers as "dealers". They pick stuff up cheap and try to sell at a profit. Most coins I've ever seen at such venues were overgraded garbage for the most part. Big reason is that these people are there to make a living selling whatever they can.

Coin dealers show up more at coin shows and coin shops. That's my experience in my neck of the woods.

When I sell a coin I look for someone that wants the coin not an article for them to make a buck on. You might have a better chance trading coins with this guy than selling.

Hey, I've known my local dealer for about 15 years and I rarely sell to him. We're good friends but believe me that does not stop him from running a business for a profit. If it's something he doesn't particularly need he'll low ball me every time. If he REALLY needs it then I get good money.

Getting a dealer to drop prices when selling is easier if they want the money. Getting them to make a better offer is much harder as it's money out of pocket.

Simple economics but I agree that they don't have to be rude.

 

UNC = 60
BU = 63
Choice BU = 65
Select BU = 67

that's how i grade.i actually use names, not numbers. what's the difference between an MS60, 61 and 62? the seller.

-Steve

 

I usually go with BU=MS60, to be on the safe side.

Sorry to hear of your rough time at the flea market.
Sounds as if the guy was just starting to get into coins, or was helping someone else out by minding the spot.
Regardless, he could have been a little nicer.
A good businessperson should always consider the customer right, or at least humor them immensely.

 

In all fairness to the guy, we haven't seen Phoenix's MS-63 nickel Maybe Phoenix was going to the "dark side" - just like Clembo wants to - and was trying to leverage his numismatic knowledge over a simple flea-market seller.

I bet the nickel was AG3 at best - OMG, we've created a MONSTER - just look at his avatar.

ROTFLMAO!!!

 

Dude you always have the oddest stories. Keep 'em coming.

 

Phoenix:
Consider the source, and if you don't like him, then walk away.
We all meet unusual 'dealers'.
Recently I went to a tag sale, my friend had old me that they had some coins.
I looked them over and felt that at $45 to $50 I could make a few bucks, after all, just junk silver and around 10 Indian cents, plus some others.
He asked me for an offer, and when I told him, he said no, that he had rejected $145 earlier that day.
At $145 he would have gotten full retail for everything.
So, I left.
And on to the next deal.

 

Lol, does this guy look like a AG3?





HAs a few frost marks, but a very beautiful coin. Has tremendous luster, pics can't seem to get it though. LOL!!!

Phoenix

 

BTW, that isn't wear if anyone asks, has a bit of a weak strike I would say. Cool, thanks for the advice and opinions all. Surprised, too many too answer to personally, but thanks. Just goes to show there is a whole lot more to learn, despite how much you know already. Which by me still hardly know nothing, but can still learn. Thanks all.

Phoenix

 

Those high grade silver nickels are some of my favorite. It looks 64+