Message:

<p>[QUOTE=&quot;bhp3rd, post: 534601, member: 16510&quot;]<b>They buy it with roooooooom,</b></p><p><br /></p><p><i> How does that dealer make a judgement on what he will pay for those items? I guess what I really want to know is how would he memorize all of the possibilities that that particular coin or paper could have. </i></p><p>&nbsp;</p><p><b>They buy it with roooooooom, in other words they leave themselves very little chance of losing any money.</b></p><p>&nbsp;</p><p>I think I understand what you are asking and this like anything else in life has many variable answers but here goes.</p><p>&nbsp;</p><p>1. When they buy they write it down and then they code it - look on the back of 2x2&#039;s and see if you do not find a sticker or writing something like, GLI.EE - that is their code for what they paid.&nbsp; Come up with a 10 letter word that does not repeat itself and you can have one too, each letter corresponds with a number 0 thru 9 (hint-don&#039;t use campground everyone knows that one).</p><p>2. They use the GraySheet and always buy 10% back of bid or more for modern stuff and mint and proof sets, sometimes 35% back.&nbsp; If you buy at 10 back and sell at ask you automatically make for 15% to 20% on every item.</p><p>3.&nbsp; Most dealer do not know much about errors or varieties - if it&#039;s not in the Red-book they generally don&#039;t know.&nbsp; Plus most minor errors actually take away value from good collector coins rather than add to it.</p><p>Always remember that if a coins numismatic value is high to begin with any error of variety on it will not increase it very much over it&#039;s already high value.</p><p>4.&nbsp; They do this for a living and they get good at it - with a retail shop they don&#039;t have to pay very much for most common stuff as it is a dime a dozen and everybody has got these modern mint and proof sets along with the modern bullion - ie: (it ain&#039;t rare!).</p><p>5.&nbsp; They have a lot of stuff already sold before they buy it - let me explain - they have friends who always buy any rolls they get, they have friends that always buy bullion in bulk that they get and so on - by the time the customer that sold it is starting his/her car he is on the phone selling it. ( ie: moving it on down the line)!</p><p>&nbsp;</p><p><b>One more thing very important - they learn the un-value of a damaged coin.</b></p><p><b>A coin with a rim ding, scratch, cleaned, or has a problem they discount their buy price even more.&nbsp; This is an aspect that many new persons just don&#039;t get for awhile.&nbsp; If a coin otherwise EF-45 and really nice has a rim ding or whatever an&nbsp; experienced dealer will pay on the level of a Fine-20 or so.&nbsp; He has too,&nbsp; that coin, (for that matter any coin he buys) might be there on the shelve 4 years from today not making him one cent i all that time.</b></p><p>&nbsp;</p><p>Hope this helps you,[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in