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Message:: [QUOTE="GDJMSP, post: 134885, member: 112"]Of course they put their interest first - they are after all in business to make a profit. If they don't make a profit they won't stay in business.And I will readily agree there are plenty of dealers out there who are entirely unscrupulous - if they get a chance to take advantage of you, they will. However, there are also planty of dealers out there who are honest, hard working people. And even though they will make a profit on every coin they sell you or buy from you - they will do so fairly and they will do everything they can to make you want to return and do business with them again. In all honestly, it is my opinion that many collectors do not have a good understanding of how the coin market works. Nor do they understand or agree on what constitutes a fair price for a given coin whether it is being bought or sold by them. Often this is because collectors put too much faith in published coin values. And because of that they are convinced that every coin dealer out there is a crook. But that's simply not true. And of course there is a huge difference between wholesale & retail. In what business is that not true ? A coin dealer will try to make between 20% - 40% on each deal he makes. That is quite normal and the accepted standard. In most other businesses the markups are significantly larger. A jeweler for example often charges 300% markup. A furniture store will be between 300% & 400%. Most retailers it's 100% or more. That's how they stay in business and show a profit. But rarely will you hear anyone complain about it - usually because they don't even know what the markups are. So when you compare 20% - 40 % for a coin dealer to what other businesses charge - it's starts to look a whole lot better.[/QUOTE]

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