I'm looking for some advice. I want to get a 1914-D Lincoln Cent in XF-40 at the upcoming Central States show. SO, is it acceptable coin show etiquette to offer a combo of trades and cash? Here's the list of 1) a 1909-S Lincoln in Fine-12 2) a 1914-D Lincoln in Fine-12 3) a 1924-D Lincoln in XF-40 4) the balance in cash. All of these coins are decent-looking brown and not too dark, spotted, or weirdly toned. You can probably guess that I don't have the cash to buy this 14-D Lincoln outright. I've always acquired coins with cash at shows, so trying trade and cash is new to me and that's why I'm asking. Finally, how much would the cash balance be, in your opinion? I have an idea, but I'd like some feedback on this, if possible.
IF the dealer is pretty certain he can resell them quickly, he'll probably give you a little more as trade value than he would in cash. You'll want to pick a quiet time since this will take longer than a simple buy. If the trade is coins he will have to have slabbed, those fees and the nagging question of why they aren't already will enter into the offer...
Also on a wild chance if timing allow, you might offer the coins at an acceptable price you would want from a dealer here in classified. Easier to deal for a 14-D in extra fine with cash. Jim
You will probably get a low offer and may lose money on the three coins and have to factor that into the equation. Also, dealer now invests his time into having to resell them. I would sell them on your own and deal in cash. TC
Thanks so much. You and desertgem have the same idea here. Do you think I'd lose considerable value by trading?
I've never sold / traded and only dealt with cash with dealers, but I imagine the low offers by dealers will be like how Rick does it on Pawn Stars. Maybe it's not as intense or as low ball though.
Dealers are at shows to buy and sell coins. If you find a coin you are looking for, ask them if they are buying. If they are get negotiating. Thats what i do.
Also possibly just try to sell your coins for cash first then buy the 14 d. I often get customers coming to my table and showing stuff they want to sell. Much of the time I’m not interested but I do make quite a few purchases that way
I would say try it and see how things go. In general it is perfectly fine to do cash+coins for another coin. However, like some mentioned, the dealer with the coin you want might not be the ideal person to sell your other coins to. If that is the case, show the coins to other dealers. There may be those who value your coins higher.
In general there’s nothing wrong with trading or cash and trading. It’s generally easier as in you get a better shake with someone you’ve done business with before but the only way to find out is to try. The only real general trend you’ll find is that you’ll usually get a worse deal trading common things for something rare and a better deal trading rarer things for something common. Other than that it’s completely hit or miss with whose on the other side of the table.
Assuming your grades are accurate... https://www.greysheet.com/coin-prices/series/Lincoln-Cents/ Take these $s as guidelines - you really need to look at eBay SOLD listings and redo the math... RETAIL prices (everyone will tell you the PCGS prices are inflated): 1909S F12 - $94 (PCGS: $100) 1914D F12 - $195 (PCGS: $220) 1924D XF40 - $115 (PCGS: $85) Total ... $404 raw, PCGS $405 If you were to have them graded, $22/coin, $10/invoice, $23 s/h (x2 - to and from) or $122 So a dealer is going to offer something around $200. What you want (look at eBay there are a couple of CACed sales under $600 in the last 3 months) 1914D XF40 - $798 (PCGS: $700) Call it $600 for a cash sale... If the dealer allows you $250 trade value, s/he will be looking for $350 in cash.
Thanks so much for this information. Your breakdown on this really helps me understand what might happen if I take this route.
Good luck By the way I wouldn't take my numbers as Gospel... I'm working from online price guides and did only limited research... but they're your coins so you should do the work
Of course. Totally agree. But the way you, and others here, have explained how a dealer might view such a transaction helps me a lot. Appreciated!
Adding to this old thread - any advice on whether to get a trade-in value first with the coins you bring, or get a price first on what you want and then offer the coins as a trade-in (assuming the dealer would want them)? With cars, i've usually negotiated the trade-in after i've settled on the buying price. When buying & trading mineral specimens, i usually establish the trade-in value first and then go shopping - so i'm torn...
