Ive got a fairly sizeable collection (3-400 coins) that I want to sell to a dealer (Money is getting a bit tight) and I know that most of them are probably not that valuble but Im sure a few of them in there are worth SOMETHING beyond face value and metal content. How do I ensure Im not getting ripped off? Keep in mind there arent that many dealers around this area.
Click on the following link - HERE - scroll down to the last post on the page. That will give you an example of what you can expect.
Generally I agree with that post, GDJMSP. As a full time dealer my philosophy is this. If I can't sell a coin or collection right away at a profit...in other words, if I can't pick up the phone and sell it to another dealer or established customer RIGHT NOW then I have no reason to buy it. The last thing I want is to be in a position where I have paid over wholesale for an item...then I have to wait......and hope......and wait.....and hope for a retail buyer. And since most every customer that comes into my shop these days has a greysheet in their shirt pocket, retail seems to be a thing of the past anyway. I (like all other coin dealers) make my living on the flip. I buy it, then move it out and recoup the money for the next deal. Don't get me wrong...I buy fairly. I generally figure stuff I'm buying at a few bucks less than I can get for it. And sometimes I might even hold an item for a few days hoping it will sell for a few bucks more in the store...or perhaps on ebay. But I work hard to stay on top of who's paying how much, and for what. That way I can keep the material and money constantly churning. That's the only way to pay the bills. My advice to the OP is shop the collection around to differnt dealers in your area. Don't let anyone cherrypick you. If you want to sell it all, tell the dealers that up front. Don't let them buy only what they want. Good luck! tradernick
