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I went to a coin shop today...
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<p>[QUOTE="TypeCoin971793, post: 2778657, member: 78244"]And I was sorely disappointed. The dealer seemed nice, but their business model seemed quite unethical. The good part was that everything was graded accurately as far as the details were concerned.</p><p><br /></p><p>I swear this must be their pricing algorithm (which he used right in front of me):</p><p><br /></p><p>1. Ignore all problems.</p><p>2. Grade the coin's details accurately.</p><p>3. Look up the price for the coin in the grade determined in #2.</p><p>4. Slide finger to the right one column.</p><p>5. Write the price down on the flip.</p><p>6. Say the price is non-negotiable.</p><p><br /></p><p>Some coins were fairly priced (and I might go back for them, but I am more in a selling mood to pay for school), but most were more than they were worth. I inquired about some unpriced large cents, and he quoted me:</p><p><br /></p><p>1825, EF details, Corroded and Severely cleaned: $585</p><p>1838, AU details, harshly scrubbed: $300</p><p>1851, VG details, cleaned (N-16?): $49.95</p><p>1851, VG with major intact lamination: $39.95 (I might get this one if the price proves okay)</p><p><br /></p><p>And I felt sorry for the poor lad who came in looking for a 1909 S VDB. The dealer had one in VF (I assume it was VF), and he asked $1100. The customer bought it. Considering that the PCGS retail price guide lists EF-40 at $1100, I think the dealer got the better end of the deal. </p><p><br /></p><p>It's really disheartening to see dealers trying to take advantage of people they think are ignorant. The prices quoted to me and the lad that came in were much more out of line than the prices on the labelled inventory in the cases. I guess the dealer thought I was young and stupid, and thus a great target for a quick buck. Sad.</p><p><br /></p><p>Rant over.</p><p><br /></p><p>Oh, and large cent in question. Huge obverse lamination. Quick look at my Newcomb PDF in the store suggested N-9. $40. Yay or nay? Or should I just not patronize this outfit at all. (Sorry about the bad photos. The lighting was very poor in the store)</p><p><br /></p><p>[ATTACH=full]642218[/ATTACH] [ATTACH=full]642219[/ATTACH] [ATTACH=full]642220[/ATTACH] [ATTACH=full]642222[/ATTACH] [ATTACH=full]642223[/ATTACH][/QUOTE]</p><p><br /></p>
[QUOTE="TypeCoin971793, post: 2778657, member: 78244"]And I was sorely disappointed. The dealer seemed nice, but their business model seemed quite unethical. The good part was that everything was graded accurately as far as the details were concerned. I swear this must be their pricing algorithm (which he used right in front of me): 1. Ignore all problems. 2. Grade the coin's details accurately. 3. Look up the price for the coin in the grade determined in #2. 4. Slide finger to the right one column. 5. Write the price down on the flip. 6. Say the price is non-negotiable. Some coins were fairly priced (and I might go back for them, but I am more in a selling mood to pay for school), but most were more than they were worth. I inquired about some unpriced large cents, and he quoted me: 1825, EF details, Corroded and Severely cleaned: $585 1838, AU details, harshly scrubbed: $300 1851, VG details, cleaned (N-16?): $49.95 1851, VG with major intact lamination: $39.95 (I might get this one if the price proves okay) And I felt sorry for the poor lad who came in looking for a 1909 S VDB. The dealer had one in VF (I assume it was VF), and he asked $1100. The customer bought it. Considering that the PCGS retail price guide lists EF-40 at $1100, I think the dealer got the better end of the deal. It's really disheartening to see dealers trying to take advantage of people they think are ignorant. The prices quoted to me and the lad that came in were much more out of line than the prices on the labelled inventory in the cases. I guess the dealer thought I was young and stupid, and thus a great target for a quick buck. Sad. Rant over. Oh, and large cent in question. Huge obverse lamination. Quick look at my Newcomb PDF in the store suggested N-9. $40. Yay or nay? Or should I just not patronize this outfit at all. (Sorry about the bad photos. The lighting was very poor in the store) [ATTACH=full]642218[/ATTACH] [ATTACH=full]642219[/ATTACH] [ATTACH=full]642220[/ATTACH] [ATTACH=full]642222[/ATTACH] [ATTACH=full]642223[/ATTACH][/QUOTE]
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I went to a coin shop today...
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