Do you haggle with coin dealers?

At the shop we don't mind it when people haggle... but I do mind when people get mad because I don't accept their offers. I have had more then one person get nasty with me because I don't accept their offer. It really all depends on what I paid for the coin as to how much room I have. If I was working close I sometimes can't haggle.

 

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that makes sense...

however, I do mind it when a dealer overpays, and the price goes down, then still wants a profit.

If I can take a loss why can't he (or she)?

 

I typically know or research what I am willing to pay before I ask the dealer for the price. I often actually walk away & research the coin before returning to ask for his best price. If his quote is below my price I typically say OK. If his price is above my price, I might say that "I was willing to pay $xxx" and see if he comes back with a counter offer. If the dealers offer is way too high, then I just say thank you & pass on the offer.

About 25 years ago, a poor-mannered dealer offered me a coin for $100 and I just passed. It was an AU half dime with the inverted date. Before I walked away, he then said "what about $50" and I was mad as heck. He was willing to take me for an extra $50 and I wasn't even negotiating with him. (That was $50 in the 1980s).

 

I occasionally pay too much for stuff and from time to time lose money. I typically try my hardest to get my money back out of an item even if it has to sit around for a while. That would be a coin that I wouldn't have much room on... eventually if there is no hope in turning a profit it does get sold to the highest offer. If I can afford to hang on to it tho... I usually will.

 

So do dealers mind if you take out a redbook or something similar when browsing their coins? I'm not that acquainted with prices yet, and I don't want to get ripped off. Also, how do you check the greysheet at a coin show/store? Isn't that a web-based pricing thing?

 

With a not too favorite coin dealer I will try reverse haggling when trying to sell some coins to him quickly. I will have a good idea of what I think my coins would grade and see what they would sell for retail as well as realized eBay prices. Then I will browse the dealers cases for a coin in the same or worse grade that may be way over priced and then ask him if he is open to negotiations on the coin he has for sale. Regardless of how that turns out , I will then offer to sell him my better grade coin at a price close to the final asking price for his coin.
I would never do this with a coin dealer that I respect!

 

I don't try to haggle but the dealer is just so rude that sometimes I have to argue with him because he's mad about a twelve year old questioning his outrageous prices.

 

I personally don't mind for people to use whatever they want in the shop... of course every dealer is going to be different. The greysheet can be ordered through the internet but you can also get printed versions mailed to you.

 

I go to two dealers. I don't haggle with either. One guy gives me a deal already and the other guy wouldn't cut you a deal if his life depended on it.

 

I like to ask, "Is this the lowest you will go?"

 

I am not a mind reader. Some people will haggle and some will walk away even if you quote your best price. It could be lack of money. As a seller, you don't want to quote such a high price they are scared away nor quote your best rock bottom price and then the guy wants to talk you down. Caving too easily your leaving money on the table.

If someone wants to haggle then they can put their money on the table and make a counter-offer. Show the seller the money and that your serious and will do the deal right then if he accepts.

 

i'm the same way. i ask how much, they say a price. if i like it, i buy it. if not, i move on. i don't haggle.

 

A coin dealer is not likely to toss you out or look at you like you are crazy if you offer 10 or 15 % off the marked price. Listen to what is happening in the store. One store I know offers essentially 10% discount for cash and will haggle on the price in addition. I learned this from listening, watching, and then asking. Discreetly.

 

My thoughts exactly. I'm the same way.

 

I too am not that comfortable to haggle. However, the coin dealer I go to is very patient and is in charge of the local coin club which he invited me to go with him to the next one. He now gives me most coins at cost, with some exceptions at 10% above since he needs to make a living. I believe what he teaches me out weighs haggling over a price.

 

If the price is marked on the coin or bill I will ask if they can do better. (If it was priced that way 5 years ago and hasn't sold they might drop down just to get it out of inventory) If they don't mark the prices and I ask then I would go with that price and wouldn't try to haggle on each item. However if I bought a bunch of things I might see if they could drop the total a little bit.

 

I've found a good rule of thumb to be, don't try haggling on new stuff at a retail store, but everything else is fair game unless clearly posted as "All prices final", or something similar. (Carmax, many thirft stores, etc. have "no haggling" policies.)

Result - I haggle on cars, real estate, coins, antiques, collectibles, consignment shop clothing, etc., but not on groceries, hardware store/home center outlets, new clothing stores, etc.

I can't recall a single incident in about 60 years of following that policy where a seller who wouldn't haggle threw me out of the shop, or refused to sell if I said "OK, but you can't blame a guy for asking".

 

I find most of the dealers in our area have quite reasonable prices, but I'll always haggle to get a deal.

 

I'm in the just ask what's the best you can do camp. This is how I buy at shows most of the time. Dealers I have done business with will always give me some "wiggle room".

I don't really consider it haggling and it is generally true that the better you know a dealer the better deal you will get.

One must also realize that every dealer is different as is every customer. My boss does not really like to haggle. However, if you ask him if he can do better he'll often ask what are you willing to pay. If one makes a REASONABLE offer he will often take it.

If you make a stupid offer he will counter with an offer higher than the transaction started.

If he's really involved in another deal or just plain in a bad mood he may just tell you to go away. Not great customer relations for sure but he's getting older and sometimes gets cranky.

Things to think about next time you haggle.

 

Believe it or not, that's the beginning of the haggle.

My approach is simple. Last week I was at my secondary dealer's store, and noticed he had a 1900 Morgan that looked like EF to me, and dipped(looks like a piece of shiny, antiqued steel more than a silver dollar). Anyway he was asking $30 for it. I pulled it out of the case, and looked it over with my loupe, and asked him, "Would you take $20 for this?" He said he needed no less than $23 for it to make a profit. So I bought it for $23.

He made his profit on it, and I got a deal.