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<p>[QUOTE=&quot;wesdavidson, post: 747442, member: 18646&quot;]I appreciate the info from the more established dealers. It is difficult some times to figure out what the market is in a given locality. </p><p>&nbsp;&nbsp;&nbsp; </p><p>&nbsp; As for the fair offer. Depends on the dealer. Depends on what the dealer needs. </p><p><br /></p><p>&nbsp;&nbsp; Remember the collector came first, the dealer is just a way to dispose of things you don&#039;t want to get things you do want. -Or to see what you can find that you want. He isn&#039;t a bank, a metals exchange, or a market maker, only the collectors can make a market. The dealer makes his living by finding, sorting, grading and presenting coins and supplies in such a way as to make life easier for the collector, and by providing a buffer inventory so that the excess of many collectors can be perused and items selected by other collectors.&nbsp; The only use that a dealer has for anything is to sell it, or use it to sell something else. . </p><p><br /></p><p>&nbsp;&nbsp; I have had to refer a few enthusiastic locals to the blue book, the red book is retail, the blue book is wholesale. At times 50% of red book is too high for the blue book. </p><p><br /></p><p>&nbsp;&nbsp;&nbsp; Some years ago Q David Bowers published a book on being a successful dealer. ( it sells north of $175.00 , used, today) Of course he had little overhead for many years, and was primarily mail order. . . But the numbers you quote are pretty much in line. Some of his cardinal rules were to never buy a coin that you didn&#039;t need, only buy the best and rarest coins, never buy more than a couple of any coin, never buy one you don&#039;t have a buyer for, and never pay too much. </p><p><br /></p><p>&nbsp;&nbsp;&nbsp; I don&#039;t know anyone that follows all those those rules, all the time, but few are as successful as him. </p><p><br /></p><p>&nbsp;&nbsp;&nbsp; Some dealers get cash poor. One I know had to quit buying after paying out $65,000 on gold in 6 hours.&nbsp; One reputable dealer recommends a $30,000 reserve for purchases. </p><p>&nbsp; </p><p>&nbsp;&nbsp;&nbsp; Some other retail oriented dealers may have less than a hundred dollars in the till. </p><p>&nbsp;&nbsp;&nbsp; </p><p>&nbsp;&nbsp;&nbsp; I would rather turn down a deal and refer the customer to a different shop than pay less than I think it is worth. I refer a lot of customers.[/QUOTE]</p><p><br /></p>

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