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Coin dealer's ad--Chaim Greenberg
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<p>[QUOTE="Owle, post: 1394793, member: 22004"]I don't know how he works the ploy and whether he gets people to fall for it. People see a rare date coin that should sell for a lot more. They call to see if there is any reality to the offer. The dealer then can offer what he actually has to sell; he has a "buying" ad a few pages earlier on how he is the top, top buyer offering more than anyone else. So people call to sell and people call to buy. The only way you make money is to have spreads between the buy/sell that are greater than your expenses, the greater the spreads the more profit, potentially. </p><p><br /></p><p>If a family offers an estate of several millions in coins to him and he says he will get them maximum $$$, and charge a minimum broker fee, why is he offering rare coins with all the hastles of running the ads, getting payment, shipping, handling returns, etc.?, when there are plenty of buyers who would send him an overnight check for a group of rare coins, it doesn't make any sense. We know who the top buyers of $20s are, Lee Minshull, U.S. Coins, Heritage, Spectrum, they are all eager to make cash offers for certified rare coins.</p><p><br /></p><p>The game that some of the advertisers have played is offering uncertified rare coins at grades way above the reality; they say they have a former PCGS or NGC grader who is moonlighting for them. Then they send the coin out after they get payment with an invoice that says the coin is MS63.[/QUOTE]</p><p><br /></p>
[QUOTE="Owle, post: 1394793, member: 22004"]I don't know how he works the ploy and whether he gets people to fall for it. People see a rare date coin that should sell for a lot more. They call to see if there is any reality to the offer. The dealer then can offer what he actually has to sell; he has a "buying" ad a few pages earlier on how he is the top, top buyer offering more than anyone else. So people call to sell and people call to buy. The only way you make money is to have spreads between the buy/sell that are greater than your expenses, the greater the spreads the more profit, potentially. If a family offers an estate of several millions in coins to him and he says he will get them maximum $$$, and charge a minimum broker fee, why is he offering rare coins with all the hastles of running the ads, getting payment, shipping, handling returns, etc.?, when there are plenty of buyers who would send him an overnight check for a group of rare coins, it doesn't make any sense. We know who the top buyers of $20s are, Lee Minshull, U.S. Coins, Heritage, Spectrum, they are all eager to make cash offers for certified rare coins. The game that some of the advertisers have played is offering uncertified rare coins at grades way above the reality; they say they have a former PCGS or NGC grader who is moonlighting for them. Then they send the coin out after they get payment with an invoice that says the coin is MS63.[/QUOTE]
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Coin dealer's ad--Chaim Greenberg
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