Coin Dealers?

Discussion in 'Coin Chat' started by PamR, May 25, 2022.

  1. PamR

    PamR You Never Know! Supporter

    I know in this day and age it is hard to find “honesty”. Not all but some. Do y’all advise to send in coins or have y’all dealt with coin dealers in your local areas? Just have many of one kind of coin and well the photos I cannot seem to get them right at times. I know Lincoln’s many are not interested in but it seems those are studied often as I read. Several 69s cents, 92s, 82-d , jfk etc. I know things are costly to send in. Thanks!
     
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  3. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I used to send in coins on my own. That's been years ago.... The last 6-8 years I have carried my coins to my coins shop buddy and he piggybacks them in with his stuff. Sometimes it takes longer while he gets his submission together, but it is much cheaper for me.... And besides, it means I get to visit the coin shop.
     
  4. PamR

    PamR You Never Know! Supporter

    Thank you. I have been researching and watching reviews on some. A lot in Baton Rouge did not reopen after 2016 flood. I’m checking New Orleans as well but the same with Katrina and Ida as well. I will carefully research. Thanks again!
     
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  5. expat

    expat Remember you are unique, just like everyone else Supporter

    Pam, correct me if my assumption is incorrect, but are you saying that because of poor photos you are looking for other opinions than those you got here? Or are you just wishing to preserve them? If the latter, then it is much more cost effective to slab them yourself or purchase coin capsules.
    If the former, they would have to grade on the high end to make it worthwhile financially, and to get an error/variety attribution on the label involves an additional fee.
     
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  6. PamR

    PamR You Never Know! Supporter

    No, I’m not doubting anyone. Yes some have different opinions. Just others are hard to get the true photo of the shape and detailed of a coin that’s why most send in. I would not send a Lincoln or anything in unless it was a doubled coin, rare etc. Not sure if you are implying whether I have high end coins but I look at it as if it’s a coin worth it to me to ask although it may not be worth anything to someone else. Vice versa! So no I’m not saying that.
     
  7. baseball21

    baseball21 Well-Known Member

    I would always do the submitting yourself with 1 exception. The only exception I would make would be submitting through a major auction house for sale. With that out of the way there's countless reasons to not trust a dealer to submit for you. There's obvious ones like being dishonest swiping it with a lower grade version of one of theirs, just keeping a coin, overcharging you etc. There's also more than one story of a freak accident happening to a coin and the owner getting essentially no compensation because the dealer put an absurdly low insurance amount on it to pocket more money and keep their fees down.

    There's also the fact that if something happens to the dealer you're never seeing your coins again. Whether its unfortunately death/health related, or going out of business/declaring bankruptcy (both of which are MAJOR concerns in todays climate) you're never seeing that coin(s) or your money ever again.
     
    Last edited: May 25, 2022
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  8. PamR

    PamR You Never Know! Supporter

    Thank you. Appreciate it!
     
  9. Collecting Nut

    Collecting Nut Borderline Hoarder

    I’ve only sent one in for grading and that was a Colonel Note from 1773. I have some I need to grade but I like them raw. If I want a coin graded I’ll buy it that way. Every now and then I see an older coin that should be graded. Sometimes I buy it, mostly I don’t. As for modern coins, I feel your chances of finding one to be graded are extremely rare. The costs to grade are on the high side and it’s just not worth it. Modern coins need to be a MS-68 or better and with the quality the mint puts out, that grade just isn’t there. I’ve even bought Cents from the 1950’s that have graded a MS-67 or 68 for $5.00. Judd set t not worth the money.
     
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  10. Treashunt

    Treashunt The Other Frank

    Help me here.

    Are you talking about selling them? you say 'dealt with coin dealers'

    or sending them in for slabbing?
     
  11. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    That was my assumption.
     
  12. PamR

    PamR You Never Know! Supporter

    I know many send coins in. I was asking about local coin dealers in one’s town.
     
  13. PamR

    PamR You Never Know! Supporter

    Thank you.
     
  14. expat

    expat Remember you are unique, just like everyone else Supporter

    What about local dealers? What do you want to do?
     
  15. PamR

    PamR You Never Know! Supporter

    Just was curious. But if I were to sell I would not just go to any coin dealer. Would probably sell on Cointalk. There is always something that someone likes if that makes sense. Whether it’s worth a penny, cent, nickel, world, etc.
     
    MIGuy likes this.
  16. Collecting Nut

    Collecting Nut Borderline Hoarder

    You’re welcome
     
  17. Collecting Nut

    Collecting Nut Borderline Hoarder

    You’re welcome
     
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  18. Collecting Nut

    Collecting Nut Borderline Hoarder

    My phone service is nuts today.
     
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  19. PamR

    PamR You Never Know! Supporter

    Weather here today. So no telling with WiFi etc.
     
  20. PamR

    PamR You Never Know! Supporter

    Like this one. Maybe you see this every day, but some I have from my dad. His dad was from or born in Andorra. His mom from Sicily. So for me, priceless. 6D1CCE0B-0A23-4FBF-9BFB-1B7B700BD12B.jpeg C4035953-6DF8-46B4-BC70-3BCBAE3AA01D.jpeg
     
    green18 likes this.
  21. PamR

    PamR You Never Know! Supporter

    Thank
    Thank you. :)
     
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