Trying to Trade at a Coin Show - Value of the Trade?

Same thing as before basically. You'd be trying to trade for a first tier slab with a lower tier grading company. At least it'd be authenticated then but you won't sniff a straight up trade.

 

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I wasn't expecting a straight across trade, just getting more than 90 percent of spot.
When someone wants to give me 90 percent of spot on a silver dollar worth $13 in silver, that's one thing. But when it's a $20 gold piece with $1200 in gold, that's a different story. Especially when I'm pretty sure the guy will turn around and sell that coin for $1300+

 

First, and please don't take this wrong, if you don't want the coin in ANACS plastic, you need to ask yourself why someone else would, no less at par. This isn't meant to be an insult, but only something to consider.

As others have already said, an opinion is different than plastic, so expecting a dealer to buy raw, and at that level as if graded, isn't in his best interest. Just as you're looking out for your interests, it's only wise to remember the other guy is rightfully looking out for his. Many people here seem to think that any/every dealer should be able to perfectly grade to whatever TPG standard across the board and every time, but the reality is that in most cases, unless he wishes to go out of business, he has to err on the side of caution.

That said, the notion that absolutely no dealer short the likes of APMEX can ever work on a 10% margin of wholly ridiculous, and I've a very hard time believing that anyone claiming such has ever personally lived it. Generally speaking, no... margins need to be higher, and often significantly higher, but what it all boils down to is the individual dealer's market, situation, and/or need. If the case may be that all it's going to take is a phone call in order to sell it, or there are likely back end benefits, 10% on something like this can be done. However, the bigger question is will or should it be done, and this will depend on the dealer. Still, expecting such a margin in all but select or rather extreme cases is a fool's errand.

 

I wouldn't grade it at Anacs if your goal is to do the trade. Some of those dealers will now tell you that they would have paid more for it raw (or still consider it equivalent to raw).

I'm fairly certain you need to explore other avenues of selling (maybe a bigger show or one of the big dealers like Apmex). Frankly with the people you are dealing with, if you brought a PCGS MS 63 of one date and wanted to trade for another common date in the same holder, they would still want $200-$300 from you.

If you can afford it, there is another deal on ebay right now for a PCGS MS 63 from APMEX on ebay for around $80 over spot (and this is a credit card/paypal price):

https://www.ebay.com/itm/SPECIAL-PRICE-20-Saint-Gaudens-Gold-Double-Eagle-MS-63-PCGS-Random/112623001958?_trkparms=5079:5000006556

 

Thanks - that would be perfect for me. BUT - I don't have that kind of money to spend right now. I bought all my gold for my 20th Century set about 1980. I really figure that I should be able to make a trade for about $200 out of pocket. Otherwise I'll just go ahead and sent it in to PCGS. I'm told the cost will be about $100 when all is said and done. I was hoping that perhaps for a small investment an ANACS slab that I get get closer to my goal. Still like to hear want others have to say. Especially someone with a lot of ANACS slabbed coins.

 

Assuming that the dealer has the clientele for a graded common coin at $150 over spot, then sure there is little need to do the deal. However, with the market as it is now, many dealers just have these coins sitting and not moving. There is a healthy market though for stackers that are looking for gold and silver as close to melt as possible. One of my local stores says they have graded material just sitting but the raw stuff close to spot has buyers. In those cases, doing the deal makes perfect sense: the dealer gets the $150 in premium and then has a coin they can market to the bullion crowd at a much smaller markup over spot.

 

Little less. It's 32 to grade the coin (37 if you want secure plus), 10 dollar order fee, 31.45 return shipping. So about 75 total as a single coin and you can mail it there for under 15. If you're adding it to someone else's submission it's 32 for your coin in a regular submission or 37 in a secure plus submission.

 

Best of luck and hopefully you find someone that makes a stronger offer. If at a show, try as many dealers as possible. Consider just selling the coin for cash and then waiting for a deal to buy on ebay (note: this could go wrong if spot rises significantly after you sell, so that is something that needs to be accounted for).

In terms of Anacs, there are some people on here that like them (especially the early holders), but most look for Anacs coins at discounted rates. Many dealers tend to dislike anything that isn't PCGS or NGC (and some are even anti-NGC).

In addition, lately I have seen a few posters showing Anacs being very conservative (i.e. under-grading by several points). If you plan on sending the coin in to be graded, just save your money and go with PCGS.

 

I wasn't planning on sending anything in. I have it and a couple of other coins that I was thinking about submitting to them at an onsite grading setup at a coin show this weekend.

 

If you're a PCGS collector, you should have a submission account with PCGS. Just submit your coins at a show to save money.

 

I would not consider sending the coin to ANACS, because you will probably be in the same boat. The two top TPG's are PCGS and NGC. Even with these there is sometimes a market value difference. Although I think ANACS does a good job, they just don't have the same consideration in the market. Just send in your coin to PCGS and you will learn several things. 1. How good is your grading. 2. what it takes to send in a coin and wait, wait, wait. No trade needed. Think of why a dealer would want to trade. What Is in it for him/her? Join the PCGS club and you get a few free coin grading as well.

 

Again - thanks for all the input. I'm not big on ANACS, but there are some dealers in my area that only send in to ANACS and prefer them over other services because of the cost involved. One of the dealers that will send coins into to PCGS for collectors even recommended that I send some of my coins into ANACS instead of PCGS.
There have been some very good arguments here for going a number of different directions. Frankly, I'm now leaning to just biting the bullet and sending the coin into PCGS. I only paid $650 for the coin in the first place (many years ago) so even if the cost of slabbing comes to $100 I'll have an MS63 or MS64 $20 gold piece at a cost of $750.

 

Penny wise dollar foolish with that approach. You more than give up the cost difference of the submissions when selling on better coins.

Unless it's low value coins to use a special I definitely wouldn't listen to that guy.

 

Trying to work such a deal at a show means that its your knowledge of the market vs. the dealer. Some after hard study can have that type of knowledge and do well, others will tend to not be successful. Some 'dealers' at shows ( especially local or small shows) are really "amateur want-to-be dealers". Some will deal well, even if later they will find they were mistaken and lost to a more educated customer. Others know the popularity and chance of quick resale ( maybe in the same show) to another dealer or a "vest pocket" or "hoodie" dealer with no table. Knowledge is the most important thing ( available money second, personality third) in my opinion and it can be free, but time consuming. Learn, we all had to do so.

 

No dealer worth his salt is going to let a deal get away that is worth his time and monetary investment.

If I, for example, don't think it's a profitable deal, I will lower my buying price accordingly. If the seller walks away, I don't fret any because I know what I need to make to stay in business.

They can take it to a dealer who is "smarter" that me or who has a business model that allows they to work on a thinner mark-up.

 

Dealers aren't in the business of giving you a great deal at their expense. If they don't make money on the deal, the deal doesn't happen. Would you straight up trade a graded and slabbed coin for an equal raw one?

 

The OP wasn't looking to do a straight trade of raw for slabbed; they were willing to trade their raw coin and pay an additional $100-$150

 

As a member f he ANA I can and do submit the majority of my coins to NGC without a membership fee. I do submit Morgan VAM coins to ANACS, they do a good job and most buyers know that and are willing to buy those type of ANACS coins.