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<p>[QUOTE=&quot;The Penny Lady®, post: 1097263, member: 16948&quot;]Regarding all the questions about what percentage to I use to buy or&nbsp; sell, Doug is right in that the flat answer is that I have none.&nbsp; Yes, many dealers do work on percentages, but for me, it will completely&nbsp; depend on the coin itself.&nbsp;&nbsp; </p><p><br /></p><p>When buying a coin, I take into consideration the following:</p><p><br /></p><ul> <li>Quality of the coin</li> <li>Is it certified</li> <li>Rarity of the coin</li> <li>Do I need that coin for inventory or have a customer looking for that coin</li> </ul><p>If the coin is a quality problem free piece, better date, and one I&nbsp; &quot;need,&quot; then I will pay stronger (over Grey sheet but back of retail&nbsp; guides).</p><p><br /></p><p>If the coin is ordinary, more common date, but still nice, then I will&nbsp; pay closer to Grey sheet.&nbsp; If the coin is already certified I will take&nbsp; that into consideration as well.&nbsp; I avoid buying any problem coins.</p><p><br /></p><p>Regarding selling a coin, again I have no formula but I take into consideration the following:</p><p><br /></p><ul> <li>Wholesale and retail price guides</li> <li>How rare the coin is</li> <li>How hard it is to replace</li> <li>The quality of the coin</li> <li>How much I paid for the coin</li> <li>How long I&#039;ve had that coin in inventory</li> <li>How strong is the market for that particular coin</li> </ul><p>Sometimes I get a really good deal on a coin and know I have a lot of&nbsp; customers looking for that particular coin, so I might be able to make a&nbsp; little more on that coin.&nbsp; Another thing I look at when pricing a coin&nbsp; is the quality of that piece.&nbsp; If the coin has a spot or mark in the focal area of the coin, I may price it less than one that is more pristine.</p><p><br /></p><p>If a red/brown coin is mostly red, I will&nbsp; price it in between red/brown and red pricing guides.&nbsp; If it is a PCGS&nbsp; coin, I often have to pay a little more, so it will be priced a little&nbsp; higher.</p><p><br /></p><p>The hardest coins to price are errors and varieties.&nbsp; I have to look at&nbsp; past auction records, other dealer&#039;s prices, what I paid, how popular&nbsp; that variety is, etc.</p><p><br /></p><p>Keep in mind that my market is to collectors and for the most part they want quality coins, not junk hole-fillers, so that&#039;s what I concentrate on.&nbsp; I don&#039;t buy everything that comes my way, even if it is &quot;cheap.&quot;&nbsp; I pick and choose what I think I can sell, what I know my customers are looking for, so I often pay stronger prices than other dealers who do not specialize, therefore my prices may be higher than those dealers.</p><p><br /></p><p>I specifically look for eye appealing coins because my philosophy has always been, &quot;If I like the way it looks, then most others will too.&quot;[/QUOTE]</p><p><br /></p>

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