Crack The Dealer Price Code

Breaking codes is not my thing. I can't even remember my computer pass words.

Dave

 

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COINMARKET is a popular code.

 

My whole code is in Greek actually, I imagine mine will be next to impossible for anyone to crack.

Its not like I am using the greek alphabet in order either. I know a unique saying that just so happens to be used for identifying things. Works really well and is easy for me to remember and baffling to anyone trying to figure out what those funny symbols stand for.

 

I paid 15usd. for a 1889 P Morgan in a yard sale and will ask whatever the fair "market price" is for it when I decide to sell it.Whatever costs for the whole "grading" scam come out of my end of the deal so anyone trying to "barter" or get a lower price is out of luck....

 

Is that very practical for a show with multiple patrons asking prices, especially when they already have the coin in hand for viewing? Sometimes keeping things simple is best. What if batteries die, or you have to move quickly through 100-200 coins searching for the inventory listing?

I think its a good practice to have your lowest acceptable price on the coin or some indication of what you may have paid so you can try and come out ahead of the game.

 

Price paid is better since it doesn't change and tells you how much room you have. The lowest acceptable price will change depending on market/PM fluctuations and how stale the coin is in your inventory.

Though really it doesn't matter. A coin is worth what the market will bear at the time you want to sell it. The question is, are you interested in selling it at the market rate or not? If you label the coin with the price paid it can hold you back from making a sale because you're into the coin for more than the current market rate.

 

I think its very important to have that information handy so that you can make an informed decision.

I would hate to sell coins for less than what I paid and didnt have any way of knowing in real time. So I agree, price paid should definitely be on the coin if you are planning on selling it.

I at least want the info on hand to know if I am selling it below what I paid. At least I will know I went in the hole as it happened, versus finding out later on when reviewing sales.

Sometimes you have to sell below current market to move stale inventory, hopefully thats a lesson on coins to be cautious of in the future if you are paying attention as a seller/dealer

 

Absolutely. They can't all be winners.

I've seen plenty of coins I'd have been happy to pick up at a fair price, where the dealer flat out overpaid for the coin and won't budge. And I'm talking about being into it 50% above retail for a coin that isn't otherwise remarkable. I just walk away shaking my head. Ultimately it's their coin so they can do what they like with it, but why take up inventory space with a coin that won't realistically sell? The coins are still there on the dealer's table a year later.

 

My code is bankruptcy

 

BLACKHORSE is a very common code

 

Most dealers use the Grey Sheet to determine a target selling price. The code on their item tells them how much they paid for it, and in some cases, when they bought it. This lets them make an informed decision on how much, if any, discount they can sell for and still make a reasonable profit.

 

It makes no difference to me what a dealer has paid for anything. If he has put together his inventory FREE its of no consequence. If I'm interested in a coin I will know what the Gray Sheet price is and if its a stale or hot item. I will know before we discuss price what I'm willing to pay. He will either sell it or not.. and I will either buy it or not.
I mostly code by gray sheet, toughness, and/or variety/rarity.
If you worry what a dealer has paid you will never be happy unless you know that he has lost money.

 

Buy enough coins from one dealer and I did break his code, so I know what he paided for it, but I don't look at that info untill I get home.

 

I don't "have to" know what they paid for a coin. It would be fun to be able to decipher their code and then maybe have some more bargaining power. But if a dealer is set on a price, it won't matter what they paid, the price is what it is.

 

I use Hebrew letters and a word in Hebrew as well... Go figure out my code... GOOD LUCK!!!

 

Interesting--but only as a reference point for most small dealers

 

just look at several samples of the code letters until you get ten different letters. Then use an on-line anagram maker, plug in the letters and see if you get a word. I tried this with my dealer and came up blank so he is apparently using a random group that he can remember easily, like the starting letters of each word in a ten word sentence.

 

Mines a Greek phrase and I use Greek letters for mine. Ain't nobody cracking that thing.

 

Addendum:
My dealer actually is using 23 letters of the alphabet - no O, W or Z (and I only found one use of V) - so I have no idea of how his code is developed. Maybe the CIA or the NSA could work it out.