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<p>[QUOTE=&quot;clembo, post: 929863, member: 8033&quot;]Well,</p><p>I&#039;m not going to answer the question or poll at this point as I don&#039;t know for sure and I work in a shop. I do have a few comments though (as usual).</p><p><br /></p><p><br /></p><p><br /></p><p>That price sounds high even for Littleton but they do pay strong. At times stronger than we would sell to retail customers in bulk. </p><p>We&#039;ve sold them IHCs at $1.50 each. Drawback is they are very picky and generally slow to pay. They send a lot back and it takes to long to get paid.</p><p><br /></p><p><br /></p><p><br /></p><p>Yep,</p><p><br /></p><p>It&#039;s very rare for a dealer to pay bid to a seller and also rare to sell to a customer at bid or even ask.</p><p>It DOES happen on occasion but not often.</p><p>As stated a LOT of inventory goes to other dealers at least where I work. The margins are smaller but the cash flow is higher volume and quicker.</p><p><br /></p><p>If I were to sell a coin to my boss I wouldn&#039;t even expect bid and I work for him. Employee or not he&#039;s gotta make money.</p><p><br /></p><p><br /></p><p><br /></p><p>Amen! My boss can be quite cranky at times. Part of the reason I&#039;m there actually. If it&#039;s a coin we need or want you&#039;ll get much better money. Usually this is NOT the case.</p><p>One thing I have learned from him though is that if you&#039;re going to &quot;lowball&quot; someone it&#039;s best to just tell them you are and why.</p><p><br /></p><p>The phrase &quot;I&#039;m going to insult you with this offer&quot; is used a lot at the shop.</p><p>Walk in with a proof set that we already have 100 of and we don&#039;t really want it. We&#039;ll pay 70% of bid and if WE&#039;RE not watching that is sometimes lower than face value.</p><p>Common $1 silver certificates? I offrer as low as $1.05 and suggest people keep them. Nobody is buying them so we don&#039;t need more and it ties up money and space.</p><p><br /></p><p>Tuesday I had a guy come in and asks what we&#039;re selling 2008 Proof sets for. Boss wasn&#039;t there so I just took the prce off of our website. $75 (about 20% over bid). Oh, but he&#039;s being tricky because he has two to sell.</p><p>I told him we&#039;d pay $45 each. I showed him bid and offered him almost 30% back. Why? - because we don&#039;t need them.</p><p>I told him if he came back when the boss was there he might get more but not my shop and not my money. I offer what I am allowed to. Not sinking in very well and I couldn&#039;t be more honest about it.</p><p>Next was a roll of mixed proof Kennedy halves. All common and looked like they came from roll searching. I told him I wouldn&#039;t even make an offer. Again, we don&#039;t need them.</p><p>Eventually the message started to sink in. I&#039;m not being rude but I point out the truth and some just won&#039;t accept it.</p><p><br /></p><p>Now, later on Tuesday we had a guy and his wife come in that had made an appointment. Long time customer and selling it all.</p><p>A boatload of GSA Morgan dollars. The guy was meticulous about record keeping and picky about his coins. The boss (who loves GSA Morgans) paid strong but also left room to make money.</p><p>A big purchase (the seller basically doubled what he paid to show you how long ago these were purchased) and now we have to deal with them.</p><p><br /></p><p>So today I spent a lot of time organizing them. My co worker and I eyeballed them for slabbing. 74 are headed to NGC. This costs more money and it will take a while to get them back. THEN we have to sell them.</p><p>Lots of time and money involved.</p><p><br /></p><p>If we get lucky we&#039;ll have a few good &quot;hits&quot;. In the meantime we&#039;ll probably be running a sell on the dealer lines. Less profit per coin but it generates more cash flow.</p><p><br /></p><p>As for turning inventory in a month we&#039;d be thrilled if we could turn it in a year.</p><p><br /></p><p><br /></p><p>So what did we ship out today? A lot of coins to be graded which will cost us more money. Almost forgot we shipped out 10,000 wheat cents. We basically doubled our money at $460. Nice margin but not much money. Keeps the lights on for another day but didn&#039;t cover the wages of three employees for the day.</p><p><br /></p><p>Nice thread you started here LostDutchman. Perhaps I&#039;ll figure a % out some day.</p><p><br /></p><p>Wake up folks. I&#039;m done typing.[/QUOTE]</p><p><br /></p>

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