Went to my first coin show today. Pretty cool. As a test, I brought a coin with me to sell. But when it came time to approach dealers to find out how much they would pay me for my coin, I was at a loss for words. I didn't know what to ask. I felt intimidated. I am a little on the shy side. What do I ask them? 1) how much for this coin? 2) wanna bid on my coin? 3) Are you buying or selling today? 4) What would u give me for this coin? This seems like a silly question, but I'm sure the more confident I am in what I am saying and how I say it, the better the offer will be. Thoughts? Thanks.
1. Hi, are you buying from the public today? ...............usually always "yes" is the answer, who knows what might walk in 2. I have a XXXXXXXXXX coin here and I am asking $xxxx, but I am willing to negotiate. ( usually use about 20-30% higher than I will really take, unless a PCGS or NCG coin, and then closer to CDN prices). 3. If they look at it and say not interested, move on as if it is a negotiating techinique, they will call you back. If they would only be interested in much less or think the coin has problems, they will let you walk on. 4. If they are willing to negotiate, do so in good faith, don't waste their time or yours. Don't argue their grading. Say what you think/know it is and negotiate from that point. If they seem resistant to spending cash, I usually say I am interested in BU lincolns, wheats,rolls. Errors, or eclectic oddities, what do you have for trading? If you can get what you want with no cash changes hands, it is usually a good deal for both. I really use the term "oddball" rather than eclectic most of the time 5. Remain respectful, even if they are not. Often this ( unfortunately) is a bargaining technique for some. Don't compromise your own values for a good deal. At least this is how I usually do it. Jim
GREAT advise, Jim. I feel more confident already. It's a haul, but I may go back again tomorrow and give it another try.
maybe a "what can you tell me about this coin?" You should be able to tell if they are on the same page as far as $$ is concerned and if they act like they don't have time for you, find someone else who does.
I used to do (set up) sportscard shows all the time and expected people to ask me to buy cards. I assume it is the same with coins. You don't have to be intimidated. I also once brought some cards to sell for a friend at 10% commision. I just came up to the tables and ask if they might be interested in any of these. Lets say I did well comming home with over $300 in commisions alone that day.
