Selling to a coin dealer~How NOT to~

First off I'd like to make it clear I have no intention of offending anyone here. Just telling you a few things that happened at work today. They were out in full force.


Case #1)
This involved stamps actually as my boss does stamps as well.
We're sitting down for lunch and a guy comes in the door. Our jewelry lady asks if she can help him.
He has some stamps so she takes a quick look BEFORE interrupting the boss. He's soon headed out the door so I ask her what that was about. He had PHOTOCOPIES of stamps for sale. HELLOOOOO!!!!

Case #2)
Stamps again! A guy comes in and says he has some stamps for sale. OK, can I have a look before I get the boss?
"Well I don't have them with me". Should I make him an offer at this point?
I talk to the guy and explain that without seeing and having any clue we can tell him nothing. He's not a rocket scientist but at least does get the gist of it. I give him a card and tell him to call BEFORE he comes in so the boss will be ready for him.

Case #3)
This is my "favorite" as he's been in THREE times now. He has a few books and a "limited" knowledge but for some reason thinks he knows more than all of us at the shop put together.
The first time was paper money. He had a bunch of star notes. ALL very modern and ALL circulated. I rifle through them and choose two to buy. A circulated 1963-B $1 note (by far the oldest) and a 1999 circulated F-* (only 640,000 printed).
He starts quoting prices on the others so I tell him to keep them for his collection. What he, and many others, don't realize is that we have to move this stuff. If it's just going to sit we really don't want it.

So Saturday he's in again. Coins this time. A few decent things like a half troy pound "silver eagle" and some other junk silver. He's going on and on about this "rare" 100 year set that he has so I take a look.
Okay, a decent type set but nothing I haven't seen a thousand times before. THEN he pulls out the sheets that tell me what the coins are in the set. Now this is where I really don't want to offend anyone okay?
If you work in a coin shop seeing a V nickel, all of the Barbers, Standing Liberties etc... is not something you need a chart for. You really have seen thousands of them.
He's pushing this stuff like a used car salesman and talking to us like we just walked onto his car lot.
We end up buying a lot of stuff at way less than he expects and turning A LOT of it down. Think he's figured it out yet?

EGADS NO!!!! He's in again today with some "I bought it off TV" stuff! OH THE HORROR! Worse yet is the boss actually BOUGHT some of it. AHHHHHH!
Yes, we now have even more gold plated state quarters to gather dust on the shelves.
Meanwhile the "used car salesman" is beyond prepared for his presentation.
He has TWO $100 mint bags of the elusive 2001 P and D mint Kennedy halves. We have NEVER seen these before! Except for the tubes in the vault from our own inventory.
But it get's better. He has two ANACS slabs of same coins. One in 64 and one in 65! Then proceeds to inform us that ALL of the raw coins in the bag are of the same grade!

Now being born yesterday we are frothing at the mouth of course. How can we acquire these rare coins? Maybe a couple ounces of gold?

So the boss goes to take a look in one of the bags and the guy halts him with a pair of white gloves! Can't touch those coins!

At this point I am amazed the boss is so calm. NOT his strong point but he asks the guy what he wants for them. Well, he saw that the went for $33 each. Boss asks him "well are they buying them?"
I'm just sitting back enjoying the show at this point believe me. The boss offers him 75 cents each IF he throws in the slabs. SHOCK AND DISMAY! I didn't sell the car!

Then there is the mystery box. I had wandered away at this point but the deal is basically over and the guy is actually BUYING proof silver eagles in trade. He now OWES my boss $68 and asks if my boss would give $70 for the "box". No dice - not interested.

They settle up and I get the door for the guy as bags of rare coins are heavy. He tells me what a great deal my boss has missed.
I can't hold it in any longer and tell him if WE CAN'T SELL IT WE DON'T WANT IT. In one ear and out the other I'll bet.

We get a break and I ask the boss what WAS in that box. A COMPLETE SET of P and D state quarters! The guy paid $150 for it and, sorry, the box was worth more than the coins and would just sit in the shop.

All said and done I'll bet he's back again with more stuff and willing to educate us on rare coins. Looking forward to it.

Case #4)
We're busy. The boss is moving some world coins and I'm working on (for me) a bigger silver sale.
A guy walks in and our jewelry lady asks if she can help him. He wants to know how to go about selling some coins. She's been around the shop longer than I have so she knows what questions to ask and how to answer.
"Well, we take a look at them and then make you an offer". Pretty easy so far.
"I don't have them with me" he replies.
Her response is "what do you have? Is it gold, is it silver, U.S., foreign?"
By this time I'm done with my transaction and wander over to help.
"A lot is foreign" he replies "and I have some U.S. stuff too as well as some bills".
"Okay" she replies - "but we have to see it to make an offer".

Here we go "well can you give me a ballpark figure?".
Of course we can dude. We have absolutely NO CLUE what you have but we'll give you an estimate.
Look at it this way. Hey! I have a car for sale. What kind is it?
I reply blue and you offer me $12,000 on the spot! I didn't say this but I sure as heck did think it.

Some may see this as a rant but really it's not. Other than the "used car salesman's" first two visits ALL of this happened in an eight hour period.

A glimpse into the reality of working at a brick and mortar coin shop for y'all.

clembo

 

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Thanks CLembo. Hear it all the time standin' round listening as I sift through the junk bins, even did it to one of Budgoods guys before I knew better.

 

HERE ,HERE !!!!!!!!!! I love my REAL customers ,but most over the phone appraisals & well the book says .......... "so sell it to the book" (my response for junk) guys just drain you some days.

Oh too candid for you ? Try dealing with just 1 crack or meth head a day,thinking the beat up 1922 Peace Dollar they stole ( or their "Grand dad" gave them gave them" ) is worth $100 .

 

Lol

 

To me, you just posted a good reason to do something with our educational system and why nothing is anyone's fault

 

Thankfully we rarely see such lovely people at the shop but I sure did see tnem in my truck stop days.
Play your cards right and you can get that $100 coin for $3.

 

2 of my best guitars came to me that way via my buddies pawnshop, you should see the clientele thats wanders into that joint, lol

 

My favorite coin shop stories of all time happen about once every week.

Someone calls me up and says

Q. "I have a $1 bill, what's it worth?"

A. Well....$1.00. If you got it from the local Wal-mart I was probably the one who spent it.

(Canadian dollar bills)

 

Great post! Thanks, clembo. . .

 

Quote"Thankfully we rarely see such lovely people at the shop but I sure did see tnem in my truck stop days.
Play your cards right and you can get that $100 coin for $3.

Nice compassionate attitudes both of you, consider yourself lucky you and your family have never been trapped in a lifestyle like these 'clientele' you mention, especially in todays hard times. I know I do.

May I suggest you spend a couple minutes listening to, or reading the lyrics to Bob Dylans 'Like a Rolling Stone' below, to get a better understanding where I'm coming from. Ok, enough preaching


Once upon a time you dressed so fine
You threw the bums a dime in your prime, didn't you?
People'd call, say, "Beware doll, you're bound to fall"
You thought they were all kiddin' you
You used to laugh about
Everybody that was hangin' out
Now you don't talk so loud
Now you don't seem so proud
About having to be scrounging for your next meal.

How does it feel
How does it feel
To be without a home
Like a complete unknown
Like a rolling stone?

You've gone to the finest school all right, Miss Lonely
But you know you only used to get juiced in it
And nobody has ever taught you how to live on the street
And now you find out you're gonna have to get used to it
You said you'd never compromise
With the mystery tramp, but now you realize
He's not selling any alibis
As you stare into the vacuum of his eyes
And ask him do you want to make a deal?

How does it feel
How does it feel
To be on your own
With no direction home
Like a complete unknown
Like a rolling stone?

You never turned around to see the frowns on the jugglers and the clowns
When they all come down and did tricks for you
You never understood that it ain't no good
You shouldn't let other people get your kicks for you
You used to ride on the chrome horse with your diplomat
Who carried on his shoulder a Siamese cat
Ain't it hard when you discover that
He really wasn't where it's at
After he took from you everything he could steal.

How does it feel
How does it feel
To be on your own
With no direction home
Like a complete unknown
Like a rolling stone?

Princess on the steeple and all the pretty people
They're drinkin', thinkin' that they got it made
Exchanging all kinds of precious gifts and things
But you'd better lift your diamond ring, you'd better pawn it babe
You used to be so amused
At Napoleon in rags and the language that he used
Go to him now, he calls you, you can't refuse
When you got nothing, you got nothing to lose
You're invisible now, you got no secrets to conceal.

How does it feel
How does it feel
To be on your own
With no direction home
Like a complete unknown
Like a rolling stone?

 

clembo, nice stories. I normally never read excessively long posts but yours is so typical of the mental abilities of people today, your post does require reading by a lot of people out there. Unfortunately so many people reading your stories would see nothing wrong at all. I've never liked working with people for just the reasons you described here.
Going to flea markets, coin shows, gun shows, etc. I too have seen so many instances as you just told that I think this is becoming the normal.
Doesn't it ever make you wonder where those people may really have acquired there merchandise?

 

Clembo, your post is hilarious! It's always a breath of fresh air to hear people that deal with people in their jobs to share the stories (though I know it's not so funny for people who actually need to put up with these guys on a daily basis). My mom is a nurse on a ER. You can imagine the kind of stories SHE has to tell.

 

I am an X-professional musician. I lived in Hollywood in the 80's and played in punk rock bands, I know that lifestyle all to well, trust me. It is choice's we make, not what was thrust upon us. I chose to not lead that lifestyle any longer, cleaned my act up and decided to be an adult.

 

I blame the laws. We need legislation preventing stupid people from having children!:goofer:

 

It's like the old saying, Jack:

When as a child, I spoke as a child and now, as an adult, I have fond memories.

Ribbit

 

I still question your adult' description..regardless...mental illness is an example of it being not a choice and we have all seen'the end results of what happens when its not treat.Im finished with this thread, you guys can carry on..:hammer:

 

All I can say Clembo is I sympathize with ya!!!

 

tv ! Hsn !

 

Thanks for the sermon although I don't believe I was talking about those "down on their luck" or mentally ill.

I have worked jobs in which I have seen a lot of areas most people never will. I've been in the "projects" in South Chicago and Gary, IN. Know what I saw?
A lot of people trying to make it. Good people.
Know what else I saw? A lot of people who chose NOT to try and better themselves. Crack addicts etc. Sorry, I don't feel a lot of compassion for someone that will rob you in a second to support their habit NOT put food on the table.

If I have a buck to spare and know it will be used for, let's say, food I'll gladly give that dollar up. If I feel it's going for "another rock" no dice. By "compassionately" giving up that dollar I'm only making the problem worse.

 

Thanks for another entertaining thread Dan. Ain't workin' with the general public grand?