Please balance this numismatic equation....

(Greed of dealers) ? (Cheapness of collectors)

Is the "?" above best described as:

a) >>
b) >
c) =
d) <
e) <<
f) None of the above.

What is your answer? Why did you answer the way that you did? Just wondering....Mike

 

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c) =. If they were not equal, how could there be any deals?

 

Greed of Dealers + Cheapness of Collectors = Fair Market Value

and

(Greed of Dealers)> Fair Market Value > (Cheapness of Collectors)

But I'm not exactly sure of the question. Are you asking us to compare the "greed of dealers" to the "cheapness of collectors"? If so, I wouldn't really call it greed and cheapness. In most cases it's the collectors who really set the value of a coin, so you can't call the collectors cheap for setting that price, or the dealers greedy for asking that price.

 

( C ) I think its just human nature. The dealer has to make a prophit or he/she won't be a dealer very long. On the other hand, the buyer always believes the price is way to high and naturally wants to get a reduced price on items...

 

I say F) None of the above

 

interesting medium between profit and prophet. :goofer:

Anyway, both definitely exist, although how much, and whether one outweighs one another, I'm not sure.

 

Above the best is described as A. If you're asking what the question mark is equivalent to, the answer isn't on there so the closest would be F. Oh, I could be wrong, it's happened once before.

 

a. because nothing I ever got would I consider a "deal".

 

If we're talking about "fair market," greed is irrelevant. There are smart dealers, who sell their product for profit, and there are dumb dealers who do not. If the price is too high, then no one will buy. If its too low, then the dealer won't be able to keep any in stock.

 

I'd go with (C), Mike.

That would be your fault just as much as the dealers. Whether it be poor negotiating skills, online or in person, or not looking hard enough or not knowing enough of that coin when you bought it.
You have to look hard and most of the time spend endless hours looking for a real deal.

 

If we are talking certain dealers it we be a, then if we were talking certain collectors then it would be e.

Now if we are talking normal rational fair dealer and normal rational buyers then it is C. The statement almost makes it sound like all dealers are greedy and all collectors are cheap. I think most fall into a middle ground. Just my opinion.

 

Don't have the right symbol but I would say approximately equal to.

 

same here, I am as cheap as they come but I have never bought a coin that I thought was a real deal. I may have bought a coin that is what I feel to be 'fair' but never that great find...call it my fault if you wish but if its not there then you cant find it and before I buy a coin I often wait and search for months if not years if its a big buy. I probably just deal with a lot of sellers who know exactly what they have.

Hell, I have been waiting to buy a Bohemond III coin for several years now and still havent found one I felt was a good deal....I may just have to buy the next halfway decent example that isnt what I feel to be way over priced...

Also...I see enough dealers to know they certainly will over price coins and people will buy them....price sometimes seems so subjective and even when its based on auction prices, IMO, thats a poor judge of what a coin is worth.

 

I agree ( and the symbol I would use would be ~ ).

There is a slight oscillation about the equilibrium point, depending on market conditions, the particular dealer or collector in question, and a number of other factors.

If we take the partial derivative of both sides with respect to avarice, we find that the functions turn out to be harmonic oscillators. Both feed off each other, and both need each other to survive.

 

:bow:

 

Knowledge of what you collect. Knowing dealers and collectors will keep you out of disappointments. Join a coin club in your area, and go to the coin shows and learn. You will have bad times and good times, but know what you want, and how to recognizes the values. Good luck. -O)

 

Hopefully >>, because I need them to stay in business so I can buy coins from them.

 

d) Greed of dealers < cheapness of collectors

Numismatics is one of the only businesses in the world where the consumer (collector) has access to wholesale prices of the product they are buying. Can you imaging trying to sell a new car if every person who walked on the lot knew how much you paid. Not only do the collectors know what wholesale value is, they are so cheap they actually think they are getting ripped if they ever have to pay above wholesale. Somewhere along the way, coin collectors decided they are special and that they should be able to purchase any coin they want at greysheet bid. They are an obsessive compulsive group who in general is more concerned with "getting a good deal" than getting a good coin.

The only reason I didn't give the << to the equation was that there are just too many shady unethical coin dealers in the world who think nothing of fleecing those lacking in knowledge. The majority of coin dealers are like every other retailer in the world, paying wholesale for their wares and expecting to make a 5-25% profit at the time of sale. I have no problem with this at all. But the unscrupulous dealers who sell problem coins, overgrade coins, and make low-ball buy offers to unsuspecting widows represent the proverbial "rotten apple".

The greed/cheapness is plentiful in numismatics, but IMO, the collectors win the battle!

 

An interesting question but I think the answer has to be f) None of the above. Collectors are just way too diverse to group together. Some are clearly only interested in buying a coin if they can "make a good deal" or "get a steal". Others generally are buying for their collecting jones and for some coins will pay well over "a good deal."
Dealers might fall in together a bit better because in the end, all (or almost all) are trying to make a living. Nevertheless, they run the gamut -- a lot of honest, ethical, hard-working types (hard for me to characterize this as greed). But there are also dirtbags, some of whom have been enabled by the anonymity of the Bay and other such electronic venues.
Glad I was able to clear this up!:loud:

 

easy, c.