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Do many dealers buy ancient coins?
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<p>[QUOTE="Gam3rBlake, post: 7950424, member: 115909"]30-40% still seems too low even with the dealer's profit factored in.</p><p><br /></p><p>If it's a $1,000 coin and the dealer pays $650 for it they can still sell it for like $875 and make a decent 25% profit while still leaving the customer feeling like they got a good deal on the coin.</p><p><br /></p><p>I know I would be happy to get a coin with a $1,000 market value for $875.</p><p><br /></p><p>In fact for some coins paying 30%-40% of the coin is actually paying less than <b>melt</b>.</p><p><br /></p><p>Like my gold solidus I paid $700 for. If a dealer gave me 30% that would be $210. A gold solidus has 4.5 grams of ~95% pure gold in it and gold is ~$58/gram so the melt value of that coin is ~$255 and the customer ends up getting less than melt for a 1,500 year old gold coin.</p><p><br /></p><p>How could anyone feel good getting less than melt for a 1,500 year old gold coin? It actually encourages collectors to sell ancient gold coins to a refinery and have them melted down rather than passing it on to a dealer to sell to another collector since they'd get more for it as bullion than as a collectible coin.[/QUOTE]</p><p><br /></p>
[QUOTE="Gam3rBlake, post: 7950424, member: 115909"]30-40% still seems too low even with the dealer's profit factored in. If it's a $1,000 coin and the dealer pays $650 for it they can still sell it for like $875 and make a decent 25% profit while still leaving the customer feeling like they got a good deal on the coin. I know I would be happy to get a coin with a $1,000 market value for $875. In fact for some coins paying 30%-40% of the coin is actually paying less than [B]melt[/B]. Like my gold solidus I paid $700 for. If a dealer gave me 30% that would be $210. A gold solidus has 4.5 grams of ~95% pure gold in it and gold is ~$58/gram so the melt value of that coin is ~$255 and the customer ends up getting less than melt for a 1,500 year old gold coin. How could anyone feel good getting less than melt for a 1,500 year old gold coin? It actually encourages collectors to sell ancient gold coins to a refinery and have them melted down rather than passing it on to a dealer to sell to another collector since they'd get more for it as bullion than as a collectible coin.[/QUOTE]
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