Just wondering, do dealers rely mainly on people selling their collections, or do they have other sources?
From what I've seen they get it from multiple sources; collectors (small and large), mints, auctions/estate sales and other dealers too. Just like you would I assume but on a larger scale.
I buy alot from shows. Spending a fortune at ANA hopefully, instead of a new truck in 08, it's inventory. My truck is good enough, lol. Also, pick the goodies off Ebay, and my local B&M has me flagged for the Lincolns when they arive, I get a call. BST and other sites work wonders also. Build a good repoire with others and have cash when the opportunity hits.
I get most of my inventory from other dealer. I go to a coin show every weekend and numerous coin shops through the week. Some coins come into the store but generally it is just 90% and dollars, as well as low end nickels and very common stuff that coin shops quickly come over loaded with.
I think he is referring to www.bst.com, which is an online classifieds site. Please correct me if I am wrong Arizona Jack.
Both of my local dealers do buy a lot off the street. Especially when times get tough. Yes, a lot of it is low end and they try to turn it fast but occasionally some really nice stuff comes in. One dealer has a "wholesaler" as it were and both are on dealer only lines all of the time. Even though these guys were once "mortal enemies" they both have their niche and help one another. It still feels strange when I'm in one shop and the other dealer shows up. Kinda like "why aren't you at my store?" They get over it. Both are good guys. clembo
It looks like I was wrong......what Hontonai said sounds more accurate "Buy Sell Trade" sections on forums like these makes more sense. BST.com does have some coin listings but I have never really found any good deals there.
There is a BST section on a cpl other coin forums, and an open thread on this one. That is what I meant. Great way to network and save commisions by dealing direct.
Other dealers are the primary source. I've personally seen the same group of coins sold to at least 5 different dealers at the same coin show.
I would say it is about a 50/50 split. Alot of coins are just hoarded by dealers as they don't sell for what ever reason. The other half comes from the public. There are alot of Grandpas and Grandmas out there that have past away and they get handed down to some one that just doesn't want them ( strange as that sounds ) so they take them to coins shops and sell them to the dealer that pays the most. I see some dealers 3 to 4 times a month and they always have the same coins other then a couple dozen that they just picked up in the past week. As for dealer to dealer sales we mostly buy the new coins from another dealer as we have seen the ones that have been in the case for 3 months and if they were a good deal we would of already picked them up.
