The run down on a local dealer. Need some advice here.

You should learn Jason. Get some dip, get some crummy, blackish toned junk silver, and practice. The day will come sir when you buy an old coin in great condition but has PVC or matte black tone that either you correct or will permanently destroy a coin. You need to learn what level of black corrosion is reversible, and what will always be junk silver. You need to know how to remove PVC contamination. Buying from the public you will someday see some horrible examples of coin storage, and the damage that has already been done. Knowing what can be fixed and what cannot is valuable knowledge for a dealer.

Just to be clear, I am suggesting this to a dealer here. I am not advocating collectors going out en masse and doing this. Eventually Jason will be seeing 100 times the amount of coins most of us see, and its part of his learning process in evaluating coins to purchase if they are irreversibly damaged or not.

Chris

 

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The better dips sir you do not know they were ever dipped. That is why you do not see it. Again, not advocating it for everyone, but the truth is a lot of coins had this done to it.

 

Many coin shops dip coins, that's all there is to it! As long as you don't try to steal any of his business then you should be alright in the same area. One thing about coin clubs is some people been going there for many years and whether they're good or bad apples, it's not up to you to decide. If the other members of the club treat him like he's the king, then he's the dang king for the couple hours the coin meeting lasts. No big deal, you got business on your mind and you can do it. Just treat everybody right and you will be ok. :thumb: One last thing, slabbed coins don't sell too well at coin clubs at least that's been my experience and not too many people care about them.

 

You ever walk into a coin club meeting and you feel like you stepped into the set of " The Quick and the Dead?" I had one out of the 300 coins up for auction on my radar. The guy that outbid me on the Franklin had his check book out while him and I were still bidding. I was thinking "Is this dude serious?" Ended up bowing out on a very nice FBL.

Thanks for the advice by the way Chris.

 

The fellow who had his checkbook out may have had that coin already sold to another buyer. And if he had a lot of room in the profit still left for him, well that can happen to you. If he was an independent purchaser, he may have blown his opportunity before to complete his set, and wasn't going to let this happen again, period! This probably happens quite offen when you see established dealers having bidding wars. The price of the coin becomes secondary.(to a point)