Where do you draw the line?

Discussion in 'Coin Chat' started by CoinGal07, Aug 3, 2008.

  1. CoinGal07

    CoinGal07 Still Collecting

    I wanted to ask this question in the thread about 'where do dealers get their coins' but I didn't want to hijack the thread.

    Where do you draw the line on coin karma? We all know what goes around comes around. We all want good deals on coins but by doing so we know that the dealer likely had to buy those coins even lower from the seller.

    I was at a show the other day and another 'collector' at the same table wanted a particular modern commemorative. I heard the dealer quote the ask price and I thought that was fair. Later that same collector came back by the dealer about the same time I was making my second round at the tables going through boxes and listened as she bragged she bought the same commemorative from another dealer for a lot less. (She even quoted the price) Like others on this forum, I carry a greysheet just to get a fair idea of trading values so I looked at the price again and she'd bought it at 20% below bid.

    So either she was lying to the dealer and just wanted to be rude or she truly did get that incredible a deal and lacked the manners to keep it to herself. I tried to keep my head down and not get involved but she made a point of leaning over to me and whispering 'you may want to go over there (nodding toward the dealer) because he makes better deals!'

    I was appalled. So I looked up at her and said 'well, have you considered, if he's able to sell that cheaply to you, he likely paid considerably less to the collector who sold it to him. Do you consider that fair?'

    Her answer, "Hey, that's their problem, not mine." And she walked away in a huff.

    Your thoughts?
     
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  3. Bonedigger

    Bonedigger New Member

    Before here in most cases. Give me a coin in-hand and my own "horse sense" and that's all I consider. I'm only given clues to a coins attributes or varieties occasionally on this site...

    Ben
     
  4. coleguy

    coleguy Coin Collector

    Sounds like a bargain hunter with no tact. I think we all shop around looking for the best deals we can get. But, I'd never brag to another dealer about how low his competion is willing to go....unless the dealer was a jerk and had it coming. I always try to spread my coin buying business around the whole burse, even if that means sometimes paying a bit more. I guess I want the dealer to have as enjoyable experience at the show as I'm having, and most importantly, want them to return the next time the show opens. That way, as corny or mushy as it comes accross, everyone is happy and gets something in return.
    Guy~
     
  5. spock1k

    spock1k King of Hearts

    my take and this is for world coins only ( my us dealer network is made up of honest and upright individuals who are all great people so i dont deal outside that network) dealers rip you all the time get 4 x or 5x prices sometimes a deal goes way and you pay the dealer back in kind. its a 2 way street if a dealer is fair to me i will be fair to them if they want to take advantage and test their street smarts then if they get beat up its their problem :)
     
  6. Arizona Jack

    Arizona Jack The Lincoln-ator

    Excellent

    The woman you mentioned displayed zero etiquette and will soon be known as a problem customer, which can result in a " pain in the A%& " surcharge from the dealers who know her ways. I do it and have seen it happen many times with others. This kind of customer gets talked about at the coin club mettings.........
     
  7. Pocket Change

    Pocket Change Coin Collector

    Also, I wonder what it looked like when she got home and REALLY looked at it.

    Personally, I do the bargain hunting thing (as we all probably do to some extent), but there is also that expression: "They're ain't no free".

    Oh, you might get four "deals" in a row and then get royally ripped on the fifth. Well, the sum of the game is now the same as if you had just paid normal price for everything.

    I think coin shows (and coin collecting) is becoming more and more investment oriented everyday. So you're going to get people probably pushing people out of the way to get to certain tables, etc.

    On the other hand, I wouldn't worry about how the dealer felt - I'm sure he or she has heard it all after a few coin shows.
     
  8. Vess1

    Vess1 CT SP VIP Supporter

    Man, there's just people like that out there. As I've said before, there are many people who don't believe in or care about so-called "karma".

    I know a guy that practically lives for ripping people off, big time! He's good at it. He doesn't think he does.

    This person makes good money. He doesn't have to but it makes him feel good to go to a kid selling a car for 1000 and say he'll only do 600. The kid sells it for 600. Then he turns around and sells it for 2,100. Everything he wants to buy is junk until he owns it. Then he can't be talked down.

    If people do the same thing to him, he gets mad. But, you can't tell people what to do. It's their money. There's always somebody willing to sell something cheap and if you wait long enough, there'll be somebody willing to over-pay.

    That's business I guess.
     
  9. Bonedigger

    Bonedigger New Member

    Guess, I'm that woman, LOL. I've only been to one brouse (sp?) and that was in Rapid City a couple of months ago. FWIW, There are us collectors who still live beyond the limits of acknowledged collecting...

    We're known as the Rural Kids...
     
  10. CoinGal07

    CoinGal07 Still Collecting

    Wow Spock - my experience with World coins seems opposite of yours. I have always been able to buy beautiful world coins at a fraction of the cost you'd pay for US coins -that's what attracted me to world coins in the first place. I usually buy BU or AU World crowns at spot --I'd never get a BU or AU Morgan at spot. As for smaller denominations - If I'm seeking a specific country or denomination - I have nothing but respect for the dealers who have spent the time to put the coins in a 2x2 holder, look them up, label, grade, price and keep them all organized by country and denomination. I love digging through the loose coins hunting treasures but I admire the work and time behind organizing world coins and having them available for collectors. It justifies the additional premium added onto the Krause suggested value.
     
  11. Lehigh96

    Lehigh96 Toning Enthusiast

    Just some follow up questions. Was the coin the lady bought graded by a TPG? Additionally, do you think she bought the coin or the plastic? Maybe the dealer sold her the plastic at 20% below bid because he knew the coin was overgraded. Would that be bad karma for the dealer, or the collector getting what she deserved?

    Personally, I never have that problem, I buy all by coins at 5X-10X bid. My latest acquisition is a 1941-D Jefferson Nickel NGC MS67* 5FS at 5X PCGS price guide. Do I get good Karma or what?
     
  12. Bonedigger

    Bonedigger New Member

    I'll give you a good H-Farmall feeling... ;)
     
  13. Lehigh96

    Lehigh96 Toning Enthusiast

    I am really scared to ask, but what the heck does that mean. Is it a South Dakota thing. Keep in mind that I rarely leave the casino, don't get out much.
     
  14. CoinGal07

    CoinGal07 Still Collecting

    It was ungraded - mint packaging - and she struck me more as 'list filler' rather than buying the best example of the coin in the room.
     
  15. Bonedigger

    Bonedigger New Member

    I think there was a post or two deleted between what you see, LOL...
     
  16. spock1k

    spock1k King of Hearts

    for the world coins i buy i dont only have to pay them insane money but help them grade, catalog, and identify the coins its ridiculous. They have no clue what they are doing except buying coins at less than catalog and then trying to rip the buyers apart. I am not taking names but people like AJ and budgood, troll, john, dont exist on the international side just my 2 cents
     
  17. clembo

    clembo A closed mind is no mind

    Horrible coin etiquette and a good response to her CoinGal.

    We have similar experiences in the shop all the time on both the buying and selling end.

    "Well I could have gotten this coin at so and so for X dollars".
    Our respose is usually - well you should have bought it then.

    When they leave, usually with our coin in hand, we'll call the other dealer. 99% of the time it's a bluff.

    You smacked down bad coin etiquette. Good job.
     
  18. Drusus

    Drusus Pecunia non olet

    sure they do...
     
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