Was curious, I go to this coin shop whenever I visit the city. The owner is a pretty cool guy and whenever I visit he talks about coins, he also knows a bit of what I collect since I bought a few coins from him before at a decent price. But ever since we got friendly he's being pushing me to give him a list of the coins I'm looking for. The problem is he's not my primary coin store, I usually go to another store since its closer and cheaper. I understand the overhead cost for the guy in the city must be pretty high so his prices must be higher. And though I'm friendly with him I feel his prices are too high, I have not bought a coin from him in awhile already. One other thing is, he always brags in front of me of how his prices are the best. But yet the store I frequent constantly sells coins cheaper than him. How should I proceed with this dealer? I'm wondering should I go back to him and if I do should I tell him I don't want to give him my list, he may feel insulted.
Tell him you have little money to spend on coins so your more in the learning feild for now and when you buy a coin from him and if he questions you for some reason, say its just something you must have and had a little extra money in your pocket. Also you could tell him you just interested in a good deal so then you don't have to make a list.
I agree. Worse case scenario is you tell him when he shows you some coins he has on your list, "Sorry, don't have enough funds right now. Maybe we could bargain...?" Who knows, you might get a nice deal after all
I would share the list, you never know what he may run across. Also the better relationship that you build with him may help you out. He seems sincere about taking care of your needs/wants.
Hey I turned a roll list in and the dealer never even tried to fill it last I dealt with him. I have also run into the problem of one dealer seems to have almost anyything and everything but the dealer I get better prices from doesn't seem to have the selection so having two dealers isn't a bad thing. Plus if you are more friendly with the dealer he may match or beat the other dealers price. Another option would be to split the list especially if you are like me where one dealer have coins the other doesn't or the common date or cheaper dates make him feel good but buy your expensive coins at the better price.
It can't hurt to give him a short list of coins you are looking for and the condition you want them in, but also include "but i don't want to pay more than $XXX". You might be surprised.
Thanks guys, I'm still hesitant to give him a list though. Here is an example why. There was a coin I saw once that I had wanted, the other store happened to have one too. This store had it in Good raw condition and was asking $100 more than the other store's VF graded. How much discount can he possible give to balance out the difference?
Always negotiate with your dealers, most use the gray sheet as their bible and will usually agree on a final sale price of any given coin. That being said, share your list or divide it in relation to the particular specialty of the shop. I take the advice of one dealer because he is an early copper specialist, another because he is a dollar guy and another for proofs. Depends what area of collecting I am salivating over. Remember though that the second dealer does that for a living and although he probably loves talking about coins, he needs to sell to continue to do so. Kirk
Be honest. Tell him you value him as a dealer & a mentor, but share your concerns with him as you did us. If he's a good dealer it will solidify your working relationship & ease the pricing. You need to read his ask as a plea for your business. Many dealers wouldn't ask for a list from someone who doesn't make big $$ purchases unless they either really wanted to help or were hurting for any & all business they could get. Either way works out favorably for you.
