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For collectors who are also dealers, when/how do you decide a coin is a 'keeper' or to be flipped?
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<p>[QUOTE="Curtis, post: 24771901, member: 26430"]I wouldn't have ever referred to myself as "a coin dealer," but maybe I would've once qualified as a low-end "vest-pocket dealer."</p><p><br /></p><p>I make the mistake (double-mistake, as johnmilton notes) of putting my "collection" coins online with outrageous prices alongside my "inventory" coins.</p><p><br /></p><p>Then one day some buyer from one of the little Persian Gulf kingdoms clicked "buy" on almost my entire inventory. So I pretty much had to sell a couple coins that I really didn't want to. I still miss one of them (my first or second coin, an Alexander Tetradrachm bought when I was 6-8 years old). And feel guilty for how much the buyer paid for it.</p><p><br /></p><p>If you don't mind giving a coin up, though, when someone calls your bluff, you have to hope people don't think you generally inflate prices. Tom Cederlind I seem to recall was known for sometimes putting "i don't wanna sell it" prices on certain coins.</p><p><br /></p><p>Also, it was a minor glimpse into the terrifying risks that full time dealers must cope with regularly: If that FedEx shipment had been stolen, or told PayPal it was empty (I shouldn't have accepted such a payment from an unknown buyer by PayPal at all), it far exceeded any insurance I was able to get, and I would've taken a hit of like a year's income.[/QUOTE]</p><p><br /></p>
[QUOTE="Curtis, post: 24771901, member: 26430"]I wouldn't have ever referred to myself as "a coin dealer," but maybe I would've once qualified as a low-end "vest-pocket dealer." I make the mistake (double-mistake, as johnmilton notes) of putting my "collection" coins online with outrageous prices alongside my "inventory" coins. Then one day some buyer from one of the little Persian Gulf kingdoms clicked "buy" on almost my entire inventory. So I pretty much had to sell a couple coins that I really didn't want to. I still miss one of them (my first or second coin, an Alexander Tetradrachm bought when I was 6-8 years old). And feel guilty for how much the buyer paid for it. If you don't mind giving a coin up, though, when someone calls your bluff, you have to hope people don't think you generally inflate prices. Tom Cederlind I seem to recall was known for sometimes putting "i don't wanna sell it" prices on certain coins. Also, it was a minor glimpse into the terrifying risks that full time dealers must cope with regularly: If that FedEx shipment had been stolen, or told PayPal it was empty (I shouldn't have accepted such a payment from an unknown buyer by PayPal at all), it far exceeded any insurance I was able to get, and I would've taken a hit of like a year's income.[/QUOTE]
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For collectors who are also dealers, when/how do you decide a coin is a 'keeper' or to be flipped?
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