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Provenances of Ancient Coins -- Coinweek Article
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<p>[QUOTE="IdesOfMarch01, post: 5289315, member: 39084"]I have rarely read a post that more accurately and objectively describes and summarizes the process of buying ancient coins through a dealer vs. through auctions. I would encourage all collectors here, and especially new ones, to reread this post and learn from it. </p><p><br /></p><p>In particular, I would reinforce the following:</p><p><br /></p><p> - There's nothing wrong or devious about a dealer acquiring a coin via auction and not disclosing that fact, or the price he/she paid, on their website. If you want to research recent prices for similar coins (and the particular one in which you're interested), that's what ACSEARCH, CNG, etc. are for.</p><p><br /></p><p>- Rather than "fairness of price," think in terms of "value to me." Maybe the dealer found a bargain at an auction and realized the coin was undervalued, maybe not. That's mostly irrelevant. Do your research and figure out what it's worth to you.</p><p><br /></p><p>- Never hesitate to make a reasonable offer to a dealer. The worst that can happen is for the dealer to reject your offer. The dealer is the person taking the financial risk by having the coin in inventory, so the dealer will determine whether your offer is an adequate financial return based on various factors that are relevant to his/her business.</p><p><br /></p><p>Personally, I rarely (if ever) find that recent auction results for a specific coin are valuable from a provenance standpoint, although they're very helpful from a bidding standpoint.[/QUOTE]</p><p><br /></p>
[QUOTE="IdesOfMarch01, post: 5289315, member: 39084"]I have rarely read a post that more accurately and objectively describes and summarizes the process of buying ancient coins through a dealer vs. through auctions. I would encourage all collectors here, and especially new ones, to reread this post and learn from it. In particular, I would reinforce the following: - There's nothing wrong or devious about a dealer acquiring a coin via auction and not disclosing that fact, or the price he/she paid, on their website. If you want to research recent prices for similar coins (and the particular one in which you're interested), that's what ACSEARCH, CNG, etc. are for. - Rather than "fairness of price," think in terms of "value to me." Maybe the dealer found a bargain at an auction and realized the coin was undervalued, maybe not. That's mostly irrelevant. Do your research and figure out what it's worth to you. - Never hesitate to make a reasonable offer to a dealer. The worst that can happen is for the dealer to reject your offer. The dealer is the person taking the financial risk by having the coin in inventory, so the dealer will determine whether your offer is an adequate financial return based on various factors that are relevant to his/her business. Personally, I rarely (if ever) find that recent auction results for a specific coin are valuable from a provenance standpoint, although they're very helpful from a bidding standpoint.[/QUOTE]
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Provenances of Ancient Coins -- Coinweek Article
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