No, not everyone has the chance and The Cherry Picker's Guide is for another No, not everyone has the chance and The Cherry Picker's Guide is for another type of coin (variety) not regular U.S issues. What they are saying about Littleton's buying is this: I get togeather a nice group of say Buffalo's all AU or better, say a roll - in any given roll of AU Buffalo's there is going to be nice AU's plus average AU's and then some just barley AU's. it's the nature of the beast. I send in my group and Littleton only buys the cream, the nice to super AU's then returns the rest - well that's not how we buy them but they are getting that choice. We buy what walks through the door and what walks through the door is Nice, medium, and not so nice. They can buy just the best is a little bit unfair and not realistic of the real world conditions but that's what they base their offer on. Sure everyone wants to Cherry Pick but most coin deals do not allow for that much scutiny at a show or shop therefore you have to leave yourself room, just how much room is the question. Therefore to leave enough room for Littleton would, or could mean you don't pay a fair price driven by the fear of what Littleton will accept and reject - that's where it becomes an unfair advantage for Littleton. Just by being Littleton, (big and getting plenty of stuff all the time) can depress what would be an otherwise fair price to the customer in the end - that's an unfair advantage. You cannot expect to Cherry Pick on everything.
I'm not refuting your take on the Littleton discussion here, though you do offer a subjective example, "I get together a nice group of say Buffalo's all AU or better..." I simply differ in perspective about the situation. I also have had experience in the past as a buyer from Littleton. I am trying to offer sensible things to consider for others deciding if they should buy coins or other merchandise from Littleton. I do not recommend buying from them unless an individual chooses to do so for their own reasons and understands the mark up. This is not a slam against Littleton. I don't shop with them, haven't for many years, now that there are so many other resources with more competitive prices for similar merchandise. There's nothing unfair about the situation in my view of how Littleton selects it's coin stock. It differs not from anyone else's approach of buying, especially with intention to resell. They have the same resources anyone else does, and that is people or dealers trying to sell or trade in items or collections to a dealer interested in resale. Littleton simply has their own set of standards in what they will buy and prices they will pay for inventory. Anyone should also. Any coin shop, coin show dealer or individual has the same random offer or submission of coins presented when a customer/seller approaches. All have to make a decision of what to choose to buy or turn down, what grades they settle for and what they'll pay for them. The smaller the business or the lone individual dealer without an extensive business history, staff and network or financial resources and "authority" as Littleton has in place may view this as an unfair disadvantage but I disagree with that view. "Littleton only buys the cream, the nice to super AU's then returns the rest..." Littleton's strategy, in your words, sounds a lot like the standard mantra that's spread all over the CT forum to me: Only buy the best coin, in the highest grades, coins that appeal to you and be willing to pay what it's grade is worth to you. It's always quantified with, in the long run you will be more satisfied that you bought an indisputable grade of coin and come time to sell that coin will have less problems selling them. "...- well that's not how we buy them but they are getting that choice. We buy what walks through the door and what walks through the door is Nice, medium, and not so nice." When you are presented with coins to buy, sounds like you don't pick the best ones nor turn down lesser quality. Maybe the coins you see are not of quality and of your standards, let that be know by not buying them. Seek only the high grades or easily graded coins you want or can resell. You always have a choice but you cannot control what you will be presented with to buy. Maybe you shouldn't buy everything that walks through the door, but it sure sounds like that's your personal way of doing business. If you didn't buy everything that walks through the door, maybe the quality would start to increase as well as your customers would become educated in selecting better quality to present to you. This isn't a slam about you, your reply or any against Littleton. I just see no unfair disadvantage as you put it to me.
Sorry to get a couple of you fired up, I didn't mean for that to happen. I just saw something and knew that you collectors here were some of the most knowlagable and didn't want to start off doing something really wrong that I would regret in the future. Thank you to everyone that contributed to this and makeing it clear that the prices will be higher, and the services will be poor.
Yeah, no problems at all here. A few members tend to drag out what they want to say and it sometimes sounds like a fight is brewing. Just some don't know how to say things simply. If you read all this so far it mostly boils down to keep away from Littleton. Sort of like being around people that sneeze a lot. You may not catch anything but why take chances.
I see a lot of littleton ads in regular mass market magazines, they are better prioes imo than the television coin shows, but that may be because magazine ads are cheaper to buy than television time. Like I have said many times businesses are meant to make money for their owners and employees. I have not bought anything from them, just remarking that I see a lot of advertising from them in mass market magazines that are not aimed at most collectors.
They don't cherry pick BU rolls without prior permission. I believe a lot of people ship on a take it all or leave it basis but otherwise they probably will cherry pick. The best bet is to send them only things solid for the grade and nothing better and nothing worse. It really depends on the sort of coins you're sending. But their prices are so high it's not that big a deal if you only get a little back. It will be a pain if they send a lot back of something like Full Date buffalos since those slightly weaker dates or barely problem coins will probably have to be sold at a big discount without the rest. People say it's a learning experience. From what I've seen they are fairly consistent in their buying practices.
When I was about 10 years old, I needed 15 coins to complete a whitman 1941- up Lincoln book. I saw a Littleton ad, and got together 75 cents in change to buy the cents, put it in an envelope with a barely legible order form, stamped it and mailed it. The post office returned it to me. I didn't know you needed extra postage to mail a handful of change, so my Littleton deal never went through. Recently they had 2006-W silver eagles for 28 bucks or so, They made a mistake listing them so cheap, and several CoinTalk members bought some, before they raised the price to $70.00 the next day.
Hey, wait a minute. I'm the one that got everybody fired up!! I wonder if you could send them a group of coins and tell 'em they must buy "all or none"?
That's a good one. That's a good one. If you told that to Littleton they would buy none of course each and every time. They don't need anyones coins that bad.
You try to buy everything because, """You always have a choice but you cannot control what you will be presented with to buy""". Your right, that what I'm saying. You try to buy everything because that very customer may well bring you "the really good stuff" a week, a month, a year later or at the very least tell his/her friends that this is good dealer to sell to. That's the reason we try to buy or get others to buy that particular customers material when they are ready to sell. One customer may send you (over time) a dozen people worth thousands of dollars - it has happened just like this many, many times.
I have done buisness with Littleton for MANY years. For years in fact the only coins I got were the state quarters, and my brother would buy the P & D sets for me from Littleton. Their service is EXCELLENT. It is usually only 3 to 4 days before their package arrives here. The prices on modern circulation coins are NOT too high at all, and when you order a P & D set, or if you choose a P, D, and S set, you know that the coins you recieve will be excellent examples, no issues whatsoever. I HAVE noticed that their prices for the Proof sets are very high...almost double the issue price for this year's silver set. I get my proofs from the Mint beginning in 2009 however. I don't think ANY of their prices for modern, 1900-current coins are too high, except maybe the higher end stuff, which is not what I am in to. Before 1900ish stuff however I really can't judge, maybe it is too high, maybe it isn't? I don't know. Basically, you have to pay for quality...and you know with Littleton the quality is always going to be top notch. I won't hesitate to do buisness with them, now or in the future, when I am not saving all my money to go to coin shows that is
You really have to get out more. If you find coin shows, please, please go there. You'll find out you've been really paying a real, real lot for what you got from them.
I agree with what Carl says about shows. Start going to them, and I think you'll see much better prices than any of Littleton's.
Hey I'm a new member here and I can post on something... My impressions of Littleton, having bought from them: 1. They have decent quality stuff. 2. It's very expensive. 3. Customer service didn't seem bad. 4. They will deluge you with junk mail. The USPS would go under without them. Who pays for that? See #2. 5. I've found better prices elsewhere on pretty much anything that interests me personally.
Thank you everyone that has posted. I didn't expect to get that much information. I am greatly impressed in everyones knowledge on this.
