Craigslisters Are Crazy

I put an ad on my local CL looking to buy silver coins. This guy almost immediately started texting me what he has, but he is asking the most absurd prices I have ever heard of. He sent me pictures of his unimpressive stash, and when he started listing prices, I about laughed myself into a coma. He had 5 1971 Ikes that he wanted $20 each for , some Morgan junk coins he wanted $35 each for, and a bunch of 2000 Silver Eagles (which he keeps insisting on calling walking liberty proofs) he wants $50 each for :too-funny:

Needless to say after I quit laughing, I had to inform him that damn near every dealer in this city (Virginia Beach) sells the Ikes for $10, the Silver Eagles for $32, and the junk Morgans for $25. Then he proposed a "deal" if you could call it that..........4 Morgans, 4 Silver Eagles, and 5 Ikes for (no lie) $400. I told him the dealer that is 1/2 mile from my house would charge me $278 for the exact same thing. His response? Whatever, your loss. I guess he assumed I was a silver buyer that knew nothing about silver? Are Craigslisters everywhere this bad?

 

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I've never used CL before, but if you have a local dealer who is willing to sell ASEs at nearly $2 each under spot then I would strongly suggest you go there and buy every single piece.

 

As Tom mentioned, if you have such a supplier for silver (willing to sell retail below melt), why are you posting on craigslist? Common sense would dictate that you did do in the hopes of finding a deal. Well, I hate to break it to you, but you long ago missed the boat, my friend. Every scammer, dreamer, and self-proclaimed "expert" is - or already long has been doing the same. Every newbie who wakes up on Sunday deciding they like coins, and by Wednesday declare themselves a "dealer" go straight to CL expecting riches to fall into their laps. The thing you need realize is that it works both ways. Just as you (presumably) posted an ad hoping to score a deal, there are plenty of others out there responding to such ads - knowing full well some are placed by bandwagon newbies who don't know what they are doing - hoping to snare a sucker. While I see nothing wrong in what you did and mean no offense, I do find it odd that you think him crazy in fishing for a high price, but you fishing for a low price was okay.

It is all a game, and if you want to take the craigslist route, be ready to play ball. There is no sense in arging with someone who - for whatever reason - wants more than you are willing to pay, so don't sweat it and just move on.

 

No. It's like any other market...

There's scammers, con-artists, ignorant newbies, fair and experienced buyers and sellers, and everything in between.

Every so often, there's a great deal. Every so often there's a real rip off. The vast majority of the time, a couple of reasonable people get together, exchange a fair amount of money for an accurately described serviceable item, and nobody ever hears about it.

 

Yep, while the Ikes, if circulated, are way over priced, you're talking prices for Morgans & ASE's 2 weeks ago. Based on todays PM prices, I would expect to pay around $40 for a nice ASE and over $30 for a no problem Morgan. But then, rather than selling, I would be holding to wait and see where this market is going. No sense dumping them now if PM's are heading to the moon again.

 

Why didn't you counteroffer his $400 with one of your own?

 

Or "coin-artists" lol

 

I've sold/bought game and concert tickets on Craigslist without issue.

A few months ago looked for a propane grill, big waste of time. Completely crusted out grills that didn't start were like $50, people were asking $350+ for new ones. I ended up going to Menards and getting a brand new 4 burner for around $160+tax has worked great for the past 5 months.

 

I had my first CL experience the other day, when I decided to see what people were selling. I saw an ad for over 150 coins, which the seller broke down by year and denomination and stated that "most were silver." So I did a little research and found that what he was advertising was worth almost $600 in melt and he was asking $350. So I contacted him and went to see what he had. He opens the binder and what do I see? I see pages of worn Buffalo Nickels, some nasty looking pennies and about $150 worth of Franklins and Dimes. Absolutely nothing like what he had advertised and broken down in his ad. So when I told him what he had and how much I'd be willing to pay, and that I really only wanted the silver, he quickly closed the binder and said, "oh, you know what you're talking about huh?" He then said he couldn't sell it and showed me the door. He's someone who is looking for the unsuspecting person who knows nothing about coins to sell his stuff too. I can't stand people like that, who like to take advantage of others. And before you say that I would've bought it for $350 all the while knowing it was worth almost $600 and would've taken advantage of him, I'd like to throw out there that I did go there with over $500 in my pocket and would've made him a fair offer.

 

I'm in California, and yes the people are crazy for the most part. There are a couple of people who list their stuff for what you could buy them at LCS, ofcourse without the tax. So you save some if you are buying a small amount. The minute you see someone offering a fair deal, expect the price not to budge, and it to be cut and dry. I have made a few deals, and I paid about melt for both transactions. I saved over what I would have paid for at a coin shop, and the seller got more than he would have gotten at a coin shop. Thats ideally how both parties should see it and it makes for a great transaction, and if you hit it off, you wind up with a good contact to have. Just my 2 cents

 

Look at this one http://nashville.craigslist.org/bar/3257507049.html

 

Par for the course....It is much safer to deal dealer to dealer or dealer to knowledgeable collector. There are just too many knuckleheads out there. I dealt with a guy who worked at a Chinese restaurant who was buying big collections and then holding out for ridiculous prices, where do these people get the nerve??? I always end up taking a loss with these types of people and they want cash and most of them are not registered with the state.

 

i wish my towns craigslist even had its own paige or had more then 3 post from the generic paige


i used to do a lot of trading on craigslist mostly computer stuff once baught an android tablet for 80 that was brand new still in the box 6 months later my computer broke so i traded the tablet for 350 dolloar netbook that was a month old and came with the box

 

Is that you Mike Mezak? http://annapolis.craigslist.org/clt/3248480749.html

 

Next time along with your ad include no Craigslist Flakes. Works for me.

 

The prices depend on where you go. I live in a city of almost half a million people, so we have a ton of coin shops. With that comes competitive prices. These aren't prices from 2 weeks ago, I bought 4 Morgans yesterday for $100. I don't know if he buys massive quantities of them and it makes him able to afford to do that, or if he does it to draw in business for other items. The main thing I've noticed, is so many people either have no option close by, or they only have overpriced options close by. Not everywhere is the same.

And for the people thinking I was trying to rip the clown off and being a hypocrite for complaining about him, he wanted $10+ more than what I could get them for from the dealer, and I was offering $23x face, which was only $2 less than the dealer was selling for. And considering no dealer is giving anybody $23x face, I was definitely offering the better and more fair deal.

 

Checked out Craigslist for the first time in my area, and this guy is selling some good stuff. As he said, "someday these coins will be priceless."

http://lasalle.craigslist.org/bar/3215189957.html

I especially like the SBA with red ink all over it.

 

Bicentennial Kennedy Quarter? Priceless, in more ways than one!

 

I sent that guy an email correcting his error. This is my email:

His reply:

I know enough about the subject to know how to correctly spell numismatics lol :thumb:

 

Ya better git yasef out thar an git ya sum a that theyah nummatic lernin, BU.