How many dealers really expect the rush when you try to buy stuff from them? How many expect haggling or negotiating over price? How receptive are they generally to whittling things down a bit? I'm just curious. I have no qualms about offering a lower price when it comes to antiques, but I don't know coin etiquette.
Most dealers have "seen it all". They've heard every line there is. So feel free to counter-offer, but always a fair, reasonable market price. Otherwise, they won't take you seriously. Get it right the first time. This is true buying or selling. As always "do for others as you would have them do for you". Also.... get to know these guys. Chat 'em up. Choose the ones you like and work with them. Once you've developed a relationship over time, you'll get more cred and a better price. No different from other lines of business.
Everyone I've dealt with will take about 10% off the marked price for coins costing above a certain amount. "Certain amount" varies from dealer to dealer. Definitely $100. Possibly $50. Inexpensive material is generally at the price marked unless you buy enough to get over their "certain amount" level. For coins that have no price marked you have to have a maximum price you are willing to pay in mind. In this case I personally use Coin Values and the greysheet. I'll pay greysheet plus 60-80% of the difference between the two. The exact percentage I'll work with depends upon: - how much I want the coin - how good the coin looks vs. the grade quoted - how fat or thin my wallet is - how I'm feeling at that moment.
If respectful 10%, buy a lot, 15% become a customer If respectful 10%, buy a lot, 15% become a customer for life sometimes 25%. It's all supply and demand just like everything else. When I get a good deal on something I can pass it on. When I'm tight I cannot. It is also very coin specific. For instance on a Mint State twentieth century Type coin that is not a key date the amount of money off the asking price will generally be more - On a key date in original beautiful condition there may be no discount - we don't have to on the second coin - it will sell for full price, in other words again, supply and demand. With silver and gold it will be a very close margin because it's just to volatile. The thing to remember with any coin is 99% of the time "the dealer who has the coin you may want knows more than you do"! The trick is to find the coin value where you may know more than the dealer, that's when you may score a home run. The way you do this is again, buy the book, buy the book! Study the price guilds, what for trends, and most of all follow your own path knowing full well it may take you five or more years just to begin to get a grip on this "coin business thing! One more thing then I'll shut up - don't be afraid to make mistakes. I always learn more from my mistakes and really hard lessons than I do from my successes!
