Any back and forth needed?

Again, new to this. But if I go to a coin store and the guy behind the counter tells you the price of a coin that you are interested in, is that truly the best price? Or, is it like a pawn shop where you go back and forth? Just asking so I know how to conduct myself and don't disrespect the process.

 

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Good question. In general, I want to say you should not haggle at a shop. For some reason I dont think ive ever tried, come to think of it. At the shop i mainly go to, prices are reasonable or great usually. I go there knowing how much something is worth in most grades, so i make sure that I'm not paying more than retail. Even if I'm browsing, i still have a basic sense of fair prices for whatever I end up purchasing. When i go to another shop, sometimes prices are retail or slightly above, and I won't even bother buying something if it's over priced. At shows, antique markets, i do haggle. Maybe I dont at shops because i factor in that they have bills to pay, but so do dealers at shows etc. If at a shop i show interest in something, many times a dealer will give a first price but then lower it himself in his next sentence or a minute later. The question you ask may depend on the shop, but in my experience i dont haggle here

 

I am not a haggler. If prices aren't shown I'll ask. I'm more interested in attempting to establish a good rapport with the store. I always tried to buy something when I went in, always patient and polite. I think it worked well for me.

 

It depends on the people and the coin/price involved, IMO. With some dealers, the price is the price and you won't really get anywhere trying to bargain. Some dealers will come right out and say they can do better than the marked price. Dome, I'm sure, would gladly accept the marked price but will offer a better price if you just ask "What can you do on this coin?" Some will respond well to you making a reasonable offer.

I buy from dealers of all four stripes. Of the four types I've listed, only the ones that literally come right out and say they can do better will really declare themselves without you asking. I'm of the opinion that if the coin is priced somewhat reasonably to begin with, asking for a small discount to feel the dealer out is generally acceptable. I wouldn't ask on a coin that's truly priced to sell, and I don't think I'd even look at a coin that was priced too far out of the range I was looking to buy in, generally speaking.

I've never had a dealer become offended when I asked about a discount, although some have flat out just said "Prices as marked." I just take the results of my initial encounter(s) and incorporate them into future dealings.

 

Agreed, it makes sense to have a good idea of what you are going to pay. That way, if you over-pay, it is your own fault.

 

I think so too. If you establish a good rapport with the folks in the shop and they see you as a nice customer, they might just start taking care of you in the long run with decent prices. If you haggle, it might not be a good start to the relationship.

 

It depends on the situation. If there are no prices on the coins, then I would make a counteroffer because it's likely the price is different depending on who's asking. My local shop has prices visible then offers it for less which I rarely haggle over.

 

I disagree. Gentle haggling can be done respectfully and professionally. I've followed the guidelines I wrote in my post with literally every dealer I've bought from. I have pretty good relationships with all the ones I've ended up going back to, and I don't think I've offended anyone by asking about a reasonable discount or "best price." They're used to hearing it.

 

If you can establish a good relationship with a dealer they can really be key to your collecting. They can find things for you, layaway items you can't afford, help you make purchase decisions.

 

Haggling just isn't my thing. I can respect different approaches. When I used to sell fireworks I always hated hagglers. Probably why I don't do it

 

Like Patrick Swayze said in the movie, Roadhouse - "Be nice!"

Chris

 

if they have the same coin and same grade in duplicates or triples I always ask for a discount and usually get it. know how much the coins are that you seek grade wise. coins with nice toning usually get more money then book values. toning is subjective in pricing. I have spent way more on a coin just for toning. that is all up to you and your demand. paying a higher price for a coin is ok if you do not plan on selling it any time soon. some coins you might get back what you put into it and some you will not. it is ok to ask for a discount, but do not insult the dealer with a very low ball price.

 

I personally do not haggle, but I always ask deaers if they can offer a better price if the coin is not already discounted, because oftentimes dealers can take a dollar or two off, which can add up in the long run.

 

First, you need to remember there are no absolutes as it all depends on the individual dealer. Some, when they tell you a price, that's it... take or leave it, but others, perhaps even most, expect some sort of negotiation. As long as you approach in a respectful manner and actually know what you're doing, there's nothing wrong with asking if it's his best price IF within reason. This is key though... reason, knowledge, and respect. Most anyone who has had extensive dealings with the general public has almost certainly encountered so-called customers who, for whatever reason, think they're slick and/or deserve to buy at their price simply because that's what they want. Arguing, whining, lying, etc isn't likely to do any good, yet that doesn't stop some from trying even though it's just as likely to hurt them in the long run. That said though, no amount of negotiation can compare to the benefits of a genuine and deep knowledge of the coins (and their market) you desire. A truly knowledgeable buyer can pay 2x, 10x, or more retail for whatever a coin is offered as or claimed to be and still walk away with a "deal".

To echo what @Jwt708 said, relationships can matter infinitely more than price, and is something that, again in my experience, too many fail to realize. The true "value" in a good and knowledgable dealer, particularly for less experienced or newer collectors, goes well beyond any individual coin or one time price, and collectors who accept this and use it to their advantage usually end up, in the long run, the better for it. The unfortunate reality though, is that too many focus solely on price and the now instead of looking at the big picture.

 

Cash is King. If the dealer knows you are paying with cash, a deal will always be made.

 

I generally ask what's the best you can do? if he gives me a reasonable price I take it if not I just pass.

 

I don't think it is bad to ask what's the best you can do or make an offer. I always look at a coin I might buy with a loupe, form in my mind a grade, and if I am not certain of the value of a specific coin, I will come back later. If in doubt, I pass, but often when I put the coin back, I am often asked if I like the coin, what do I think of the listed grade and if it is an error coin, about that. Not all coin dealers, especially at a show or shop know about every coin and variety, and even if I am not going to buy it, I will tell him what I think. If they disagree, I will just comment something like 'that is what makes a market' . I have all except once, found that honesty and factual discussion, can make many satisfactory deals for both. Jim

 

The local coin shop I go to -- and love -- is always willing to do a bit of gentle haggling. Of course, I don't abuse it by lowballing the dealer. I always have fun buying from him.

 

Please don't haggle then whip out the credit card ...

 

Depends on the dealer, I'm sure, but the dealers in most of the shops I buy from seem to expect a little bargaining and so price coins to give themselves a little wiggle room. I wouldn't just pay their price without asking, and especially if I am considering buying multiple coins. Just be polite, and don't badmouth their coins.