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I believe this is fair. A lot of people want to receive the most for their collection, which its understandable. however, you also have to consider that the coin dealer has to make money from it. remember, he has a business. Rent, electric, employees, setting up displays on the internet / store, etc. Thank you Daniel for showing this on the video. The more we learn, the more we understand.
There's also the opportunity cost. If he pays that guy $2300, that's $2300 dollars he doesn't have to do something else with. There's also a small % of risk. Risk that one of the coins could wind up being fake, risk of being stolen or damaged, risk of it getting lost in the mail when he ships it to a customer...they're all unlikely, but they do add up.
Extremely fair! If you figure costs associated with running a LCS, lights, utilities, part-time staff, supplies, inventory, available cash reserves, personal investment (retirement), travel, subscriptions (CPG etc.), simple basic TIME, expertise, etc. . . . . . . . . I think a dealer is quite allowed to give you a percentage of what you brought in. Particularly if the majority is common, problem, hard to sell, in a downward demand cycle, etc., you are lucky to get this type of offer. I am known in the industry (helped with that holder button you mentioned on PCGS), have a stellar rep., and still, I would have a hard time expecting more from this load of common stuff. Bravo! Great vid!!!
You can't have one, they where not released to the public or collectors or accidentally into circulation, and it's not about the marks but the finish. No other 1964 Kennedy has this finish and there's only 20 something 64 SMS exist. All where found in a mint director's estate in 1991.
Daniel is definitely a 1 in a million dealer. A majority of the time I've tried to sell to a dealer they offer 10 cents on the dollar. Thus the "tried to sell". I never did.
I wish everyone could have a local dealer like Daniel. I had a hard time finding a good honest shop when I moved. Some of the dealers are a little shady with selling cleaned AU coins as UNC or dealers that don't actually appreciate coins. They'd buy junk silver and not even care to look it over. I found a coin in their bin of melt that was worth $300 book value. Wonder what they paid the customer for it. Luckily I came across a very knowledgeable and honest dealer that really knows and appreciates coins who will buy and sell at a fair price. Only guy around that pays 90% on junk silver and sells at no premium, despite demand for it being so high. Always try to do business with dealers like him and Daniel.
Great video Daniel! I really appreciate you going through how you determined your offering price. It helps to know how/why coin dealers sell their products and the relatively small margins involved (after considering admin/time/shipping/taxes/fees etc.). Fantastic instructional video and very nice of you to share it!
Daniel a super video! Learned a lot! Mr. Seller, Sir, Daniel did make a video on your coins. The coins are nice, and I think Daniel is giving you a fair offer. Just my opinion.
One thing I generally do before I handle Morgan or Peace dollars is wash my hands with Dawn dish soap, as it will get rid of any oils that are on my hands. I've never worn gloves to handle coins. None of the grading services use them. Thanks for the video. I missed this one, and it came across on my feed.
Nice video. Looks a discount of 25 to 30% off the most recent sold prices is the expectation. Based upon the ways coins appreciate it would be about 4 to 5 years to break even if you buy at the full retail and wanted to sell.
70 Percent. So, that's what you're valuing the collection for, in general. In other words, having the seller take a 30 percent bite out of their investment. Seems a bit high. In fact, that means you could re-sell that collection immediately and make a bit of money. Why not buy at 80-85 percent? You'd still be making good money, and the seller could at least realize more of his investment? Some of the coins you RE-valued at even under 70 percent of their quoted values. I just don't get it. (Why invest in coins if the collect will be so undervalued at turn over?!)
You don’t understand coin values or about appraising coins. My videos are geared to teach you. Many of these coins are ungraded and cleaned. I pay based on what I can sell them for not 30% off retail. I was just giving an example. Businesses have to maintain a certain profit margin and/or volume. It would do you well to learn about coin values and business before taking shots at someone who runs an honest business.
I actually think he overpaid for that a little. I don't mean that he could have beat the seller down until they accepted, but felt bad about it. I mean, I think it would have been fair to offer a little less without it being greedy or unfair. He was very generous on a few of those coins, and really didn't deduct for some of the risk. It wouldn't surprise me if he broke even or even lost a couple bucks on one or two of those. The 1884 MS63 and the 1896 MS62 were two that jumped out at me.
Before I came to know Daniel I have sent my coins off to be appraised and valued in all cases I had the buyer send my coins back at my expense. Why you ask ? Because those company low balled me to the point of rage. I have been collecting for over thirty years. So I may not know all but I know when especially on graded coins Price. This is to say Grey Sheet and sold auction prices. Even on the common material. First time I sent in coins I was pleasantly pleased with Mr. Malone and how fairly he treats his clients. Well now when I have overstock or want to trade up to better coins I go to Daniel Malone one of the fairest honest dealers I ever had the pleasure to deal with. I’m out.
Fair is fair! Daniel your fantastic. Your research speaks for itself. Also, some of us place an emotional connection on some of the coins we own but business is business. I know I won’t get paid for keeping the coin locked up for so long or because it came from my family or friends estate as a gift or maybe I purchased it in a small shop on a vacation. In the end when it’s time to sell, it’ll be what the market will bear. Also timing is important.
Have a PCGS 1899-O DMPL OGH, PCGS Price Guide indicates $550, offer from local guy was $250, I thought that was very lowball. Had some other Morgans to sell, 1892S VF 30, 1896S VF20, 1891CC G04 and a 1902-O MS64 he was below half the guide on all so I walked. Nice coins, will just hold on to them.
Very very fair offer Daniel.. I’ve seen too many video to even question any of your offers That 1880-CC totally solidifies my opinion that this huge reliance on the coin grading companies is overrated. Either way, awesome content man.. well done
I'm in Phoenix . I bought a collection fifty years ago been sitting in my safe. 400 silver dollars . S about 200 Morgans . How do you go about getting them appraised . None were cleaned.
I was given 30-120 per coin on about 300 Morgan dollars and was given 800 for two coins , 300 for four coins and 2300 for 1. At the time I didn't understand why I was being given more at the time or what made them give me more but I have a feeling I could have done waaay better had I known what I had at the time like I do now.
Speaking of Morgans : What is a dealers responsibility to tell a customer selling coins ,of the true value and or grading / mint mark values of the coins, seller brings in ?
So many unknowns with your questions. A coin dealers coin shop has coins for sell and many have websites, you can see what they're selling graded and ungraded coins for, so you don't need a dealer to tell you. At my coin shop, we do, and most other dealers do as well. A lot of dealers, like me, sell price guides as well.
@@CoinHELPu yea I get that part of it ,, but to undervalue a coin as a professional coin dealer ,,has no legality issues ? There could be hundreds or thousands at play there ,to where the professional knew of this
If you get a graded coin and pcgs lists it at a certain price I pay that price.. low end.. you’re knocking money off of graded coins.. I wouldn’t sell to you.. just being honest..however, I agree on the ones you refuse to buy.. agreed with your evaluation.
I Ned someones help on a Morgan Silver Dollar I have . There may be a mint mark but there is no word “Dollar “ anywhere” Only words (no dates whatsoever on coin and it is not worn either ) Liberty on Crown
The PCGS slabbed coins really should get at least 80% of retail, if you ask me, especially if they're being sold online or at a show. Typical profit margins are about 15%, but if overhead is high, that does have to be considered, of course. Actually, I'd say the same across the board. If a raw coin without problems is getting $100 on eBay, it should cost about $80 for the dealer. If it's a problem coin, prices should reflect that, of course. If you can't find comparable values for problem coins then they'll have to be discounted, and I could see a problem coin going for about 60% of retail for a problem free coin, or about 80% of the next lower grade. That's about what I'd expect. Don't get me wrong - if the customer is happy with less, that's great for the dealer, and I don't really fault a dealer for trying to get the best deal possible, but the seller should get about 80% in my book, and even 85% to 90% if the coin is in real demand and retails for a lot of money, like at least $1,000.
Problem is PCGS price guide is over inflated, a dealer would go out of business buying 20% or less back off their list value. You go by what they’re selling for lately and 20% isn’t enough unless the coin is worth $1,000 or more. Bottom line, if you want more then find your own customers. It takes a lot of work and time to resell as many coins as I buy and I am a small dealer. Building the customer base to be able to move large amounts of coins is a whole other animal, and it’s important if you want avoid the fees of online selling sites.
@@CoinHELPu yes, it does take a lot of work. I'm going by what I've seen in the market in New England, especially at coin shows, where most of the buying and selling happens in this part of the country. If you're talking about raw coins from a dealer in an antique mall, sure, you'll get quite a bit less from a dealer than if the coins were PCGS slabbed, of course, but they'll also sell for a lot less, and most coin shops here have closed, and the few that remain open do most of their selling on eBay or through auctions, and many, for some reason, don't sell slabbed coins, or sell very few. Certainly it's easier to operate with smaller margins when coins are at about $1,000 or higher, which I mentioned, but if business is brisk, and it certainly has been here at the coin shows, you can make up for it in volume and by having pricier coins, and selling on eBay, and this seems to be viable for the dealers I've met and worked with. If you find that PCGS values are inflated, I think that depends on the kinds of coins you're talking about, and that it's probably relative to your local market - I've seen a lot of PCGS slabbed coins around here going for about what's in the PCGS price guide - most, in fact. There are some deals, but there are also some that are priced at a premium above PCGS prices as well, especially if they have a lot of eye appeal or they're hard to find, or if the coin is in an old holder. If a dealer doesn't have a lot of volume, is selling mostly sub $100 coins, and has high overhead from running a brick and mortar shop with employees, etc., then sure, I can see a bigger margin being necessary, but I haven't really seen much of that around here. I've seen lighter overhead strategies mostly, and thinner margins to encourage liquidity (sales).
As shown in the video, I use PCGS, NGC, CPG, and various sold auctions and for me 30% off retail is the most on common coins. I make less than that and pay more for key dates and higher value coins. There's just no rule on a dealer should pay 20% back of retail, it's not black and white, but I do appreciate your comments, very thought out from keen observations.
The fact is buyers are always trying to get deals as well. All of your customers are not coming in going I'll give ya 100% of what it wells for on ebay. So if customers are trying to get it 15% off retail ND he is in it for 80% of retail he is only making 5% and if the market drops a little then possibly making 0% so I get it. As a buyer I want the best deal possible but I also wanna sell for most I can. Well he can't sell stuff for good deals if he us also overpaying
@@wheelman0799 true, one has to also assume I can or am selling for retail. Most dealers do not, they do try and some coins do, but not all coins, there's always deals being made that people don't see. i can buy coins from other dealers in the networks for less than retail all the time.
VAM is a term used to describe variations in Morgan's and Peace dollars. It is derived from last name initials of LeRoy C. Van Allen & A. George Mallis, whom wrote the book "Comprehensive Catalog and Encyclopedia of Morgan and Peace Dollars"
A VAM is a Peace, or Morgan silver dollar die variety that has been identified in an all-inclusive book called The Comprehensive Catalog and Encyclopedia of Morgan and Peace Dollars by Leroy C. Van Allen and A. George Mallis. The term VAM derives from the first initials of Van Allen's and Mallis' last names. source: the Susan Headley. updated 11/30/21.
It all looks like a bunch of junk to me. There wasnt a Gem in the bunch. Its so boring to own a bunch of low to medium grade coins. I own stuff that is like as high grade as I can afford which means I own as many common date gems as I can. I have like a 73s Silver IKE DOLLAR, MS65, A 1922P PEACE DOLLAR PCGS MS65, 1880S MORGAN PCGS MS66, MORGAN PCGS 1881 MS66+. I ALSO OWN 3 OF THE NEW MINT 2021PEACE DOLLARS IN PF70 as well as a bunch of 1976 Silver proof sets that are stunning coins, not graded by PCGS BUT BEAUTIFUL. I CANT STAND OLD WORN OUT LOW GRADE JUNK. IT WOULDNT MATTER HOW MUCH I COULD HAVE BECAUSE I DONT WANT IT. INSTEAD HAVE A SMALLER GROUP OF TYPE COINS THAT ARE AS NICE AS YOU CAN AFFORD. A MORGAN,WALKING LIBERTY HALVE, MERCURY DIME, BARBER QUARTER, INDIAN HEAD NICKLE, V-NICKLE, INDIAN HEAD PENNY, LARGE CENT. GET ALL THESE IN AS GOOD AS YOU CAN AND DEVELOP A SET THAT AREVERY NICE GRADE COMMON DATES TO SHOW THE REAL BEAUTY OF THE COINS OF AMERICA OVER THE LIFE OF AMERICA. ONES THAT ARE PLEASING TO THE SIGHT AND INTERESTING TO EVERYONE WHEN THEY SEE THEM. NOT A BUNCH OF BORING WORN OUT COINS THAT DONT EVEN DEMONSTRATE THE TRUE BEAUTY OF OUR COINAGE HISTORY. IT REALLY IS VERY INTERESTING AND YOU WILL BE PROUD TO OWN THEM AND SHOW THEM TO YOUR FRIENDS AND FAMILY.
I think you are offering a touch too much. The cost for you to sell on the internet or your shop, I don't think is being considered in your offer column. You are being too generous. Not enough margin.
A coin dealer worth his weight in salt will never try to squeeze the last penny out of buyers. A dealer will do exactly like Daniel and look at what the market is doing. The margin on popular and key coins will almost be less than a coin which is not in high demand, or, the price is so high that average collectors can't afford them. The one subject which isn't addressed is turnover. A dealer would much prefer to sell a coin with a lower profit margin and move it quickly than to have a coin sit in their inventory for months. Coin dealers are running a business and have to make money to cover their business expenses.
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When my wife retired in Oct 2027, I will be open a coin shop, in Lynchburg Tn. I will be buying glod and silver. I will be buying all us coins.
I believe this is fair. A lot of people want to receive the most for their collection, which its understandable. however, you also have to consider that the coin dealer has to make money from it. remember, he has a business. Rent, electric, employees, setting up displays on the internet / store, etc. Thank you Daniel for showing this on the video. The more we learn, the more we understand.
There's also the opportunity cost. If he pays that guy $2300, that's $2300 dollars he doesn't have to do something else with.
There's also a small % of risk. Risk that one of the coins could wind up being fake, risk of being stolen or damaged, risk of it getting lost in the mail when he ships it to a customer...they're all unlikely, but they do add up.
One of the best actual informative channels out there. Most others are repeated speculation channels without much substance.
Very nice video. What a treat to be able to see both sides of the transaction thru RUclips. Thank you for sharing, Daniel and Doug!
This was so cool that Daniel did this video.
Extremely fair! If you figure costs associated with running a LCS, lights, utilities, part-time staff, supplies, inventory, available cash reserves, personal investment (retirement), travel, subscriptions (CPG etc.), simple basic TIME, expertise, etc. . . . . . . . . I think a dealer is quite allowed to give you a percentage of what you brought in. Particularly if the majority is common, problem, hard to sell, in a downward demand cycle, etc., you are lucky to get this type of offer. I am known in the industry (helped with that holder button you mentioned on PCGS), have a stellar rep., and still, I would have a hard time expecting more from this load of common stuff. Bravo! Great vid!!!
Very fair . You have a normal way to look at it , These are Values I would expect when selling .
You can't have one, they where not released to the public or collectors or accidentally into circulation, and it's not about the marks but the finish. No other 1964 Kennedy has this finish and there's only 20 something 64 SMS exist. All where found in a mint director's estate in 1991.
Daniel is definitely a 1 in a million dealer. A majority of the time I've tried to sell to a dealer they offer 10 cents on the dollar. Thus the "tried to sell". I never did.
I wish everyone could have a local dealer like Daniel. I had a hard time finding a good honest shop when I moved. Some of the dealers are a little shady with selling cleaned AU coins as UNC or dealers that don't actually appreciate coins. They'd buy junk silver and not even care to look it over. I found a coin in their bin of melt that was worth $300 book value. Wonder what they paid the customer for it. Luckily I came across a very knowledgeable and honest dealer that really knows and appreciates coins who will buy and sell at a fair price. Only guy around that pays 90% on junk silver and sells at no premium, despite demand for it being so high. Always try to do business with dealers like him and Daniel.
Thank you for doing the video on these coins and the shout out. Others can learn a lot from this video with all the different coins and conditions.
Did you accept the offer
@@jackyren8217 You'll know in my video tomorrow morning.
Excellent collaboration with Doug. Thanks!
Thanks Daniel for the behind the scenes video. You definitely do take the time to do research and offer fairly.
more than fair...thank you for sharing and explaining how you do it...
Great video Daniel! I really appreciate you going through how you determined your offering price. It helps to know how/why coin dealers sell their products and the relatively small margins involved (after considering admin/time/shipping/taxes/fees etc.). Fantastic instructional video and very nice of you to share it!
Very fair buy price. Dealers buy at wholesale and sell at retail. No different than selling a car to a dealer. They'll pay you a wholesale price.
Daniel a super video! Learned a lot!
Mr. Seller, Sir, Daniel did make a video on your coins. The coins are nice, and I think Daniel is giving you a fair offer. Just my opinion.
It was so cool of Daniel to do this video. Seeing both sides is just way cool.
👍
You buy exactly as I do, you are a true gem, thank you for your honesty!
One thing I generally do before I handle Morgan or Peace dollars is wash my hands with Dawn dish soap, as it will get rid of any oils that are on my hands. I've never worn gloves to handle coins. None of the grading services use them.
Thanks for the video. I missed this one, and it came across on my feed.
Nice video. Looks a discount of 25 to 30% off the most recent sold prices is the expectation. Based upon the ways coins appreciate it would be about 4 to 5 years to break even if you buy at the full retail and wanted to sell.
Wonderful information. Gives us what we should expect when we sell our coins.
Been waiting for this video. Doug is a great guy. Great to see your opinion on Doug's submission.
Yep, It's cool to see both the collector side and the coin dealer side.
70 Percent.
So, that's what you're valuing the collection for, in general. In other words, having the seller take a 30 percent bite out of their investment. Seems a bit high. In fact, that means you could re-sell that collection immediately and make a bit of money. Why not buy at 80-85 percent? You'd still be making good money, and the seller could at least realize more of his investment? Some of the coins you RE-valued at even under 70 percent of their quoted values. I just don't get it. (Why invest in coins if the collect will be so undervalued at turn over?!)
You don’t understand coin values or about appraising coins. My videos are geared to teach you. Many of these coins are ungraded and cleaned. I pay based on what I can sell them for not 30% off retail. I was just giving an example. Businesses have to maintain a certain profit margin and/or volume. It would do you well to learn about coin values and business before taking shots at someone who runs an honest business.
I actually think he overpaid for that a little.
I don't mean that he could have beat the seller down until they accepted, but felt bad about it. I mean, I think it would have been fair to offer a little less without it being greedy or unfair.
He was very generous on a few of those coins, and really didn't deduct for some of the risk.
It wouldn't surprise me if he broke even or even lost a couple bucks on one or two of those. The 1884 MS63 and the 1896 MS62 were two that jumped out at me.
Before I came to know Daniel I have sent my coins off to be appraised and valued in all cases I had the buyer send my coins back at my expense. Why you ask ? Because those company low balled me to the point of rage. I have been collecting for over thirty years. So I may not know all but I know when especially on graded coins Price. This is to say Grey Sheet and sold auction prices. Even on the common material. First time I sent in coins I was pleasantly pleased with Mr. Malone and how fairly he treats his clients. Well now when I have overstock or want to trade up to better coins I go to Daniel Malone one of the fairest honest dealers I ever had the pleasure to deal with. I’m out.
Fair is fair! Daniel your fantastic. Your research speaks for itself. Also, some of us place an emotional connection on some of the coins we own but business is business. I know I won’t get paid for keeping the coin locked up for so long or because it came from my family or friends estate as a gift or maybe I purchased it in a small shop on a vacation. In the end when it’s time to sell, it’ll be what the market will bear. Also timing is important.
I really enjoyed watching this video with you appraising these Morgan’s! Thank you for sharing
Have a PCGS 1899-O DMPL OGH, PCGS Price Guide indicates $550, offer from local guy was $250, I thought that was very lowball. Had some other Morgans to sell, 1892S VF 30, 1896S VF20, 1891CC G04 and a 1902-O MS64 he was below half the guide on all so I walked. Nice coins, will just hold on to them.
Very very fair offer Daniel.. I’ve seen too many video to even question any of your offers
That 1880-CC totally solidifies my opinion that this huge reliance on the coin grading companies is overrated.
Either way, awesome content man.. well done
NGCs price guide isnt kept up to date very well imo. They list an updated date next to the date and many haven’t been updated since 2019.
You’re correct
Seems pretty fair considering some were problem coins.
I'm in Phoenix . I bought a collection fifty years ago been sitting in my safe. 400 silver dollars . S about 200 Morgans .
How do you go about getting them appraised . None were cleaned.
So pretty much you are taking about 30% off the appraisal like most dealers give to client .
I guess you can't expect to receive the full value, 100% better than what a pawn shop would offer 😂
I was given 30-120 per coin on about 300 Morgan dollars and was given 800 for two coins , 300 for four coins and 2300 for 1. At the time I didn't understand why I was being given more at the time or what made them give me more but I have a feeling I could have done waaay better had I known what I had at the time like I do now.
Coins sold for a lot less before 2020.
@@CoinHELPu yeah this was in 2008 or so when it happened. Not sure what spot was then?
@@jrpcoins Average silver spot price in 2008 was 14.99
Love this video. Thank you for taking the time to do this.
ok doug, did you take the deal, deal or no deal.
I released a video on it this morning.
that was very interesting thank you for the inside look
Excellent video.
Speaking of Morgans : What is a dealers responsibility to tell a customer selling coins ,of the true value and or grading / mint mark values of the coins, seller brings in ?
So many unknowns with your questions. A coin dealers coin shop has coins for sell and many have websites, you can see what they're selling graded and ungraded coins for, so you don't need a dealer to tell you. At my coin shop, we do, and most other dealers do as well. A lot of dealers, like me, sell price guides as well.
@@CoinHELPu So if a dealer quotes an undervalued price ,like spot , knowing of a real higher real value ,is that not fraudulent ?
@@jdog667 it’s not fraud cause they’re not breaking the law, but it’s unscrupulous or unethical.
@@CoinHELPu yea I get that part of it ,, but to undervalue a coin as a professional coin dealer ,,has no legality issues ?
There could be hundreds or thousands at play there ,to where the professional knew of this
@@jdog667 I don’t give legal advice.
thanks for being honest. enjoyed.
Good show.
If you get a graded coin and pcgs lists it at a certain price I pay that price.. low end.. you’re knocking money off of graded coins.. I wouldn’t sell to you.. just being honest..however, I agree on the ones you refuse to buy.. agreed with your evaluation.
PCGS are artificially inflated. You must use Grey Sheet CPG. I don’t remember offering to buy it appraise your coins.
Great information Daniel!! Thank you!!
Looks fair to me. Very interesting.
That OGH Morgan I think you mistakenly thought it was a MS63 instead of MS64 when describing the value.
Yeah, I did on the 1883 O MS64, but it was fixed. I just didn't catch before the video was published. I can't change it now.
Very interesting
What are you paying for culls these days?
I would have to see them but $25 to $28.
Cool video and actually offered a really fair price Daniel I like that
Great example--educational--thanks!!!
Thanks for method and insight, Daniel.
Then maybe you could put what (you will be asking) for them in this video. A complete dealer transaction.
I sell a tad less than retail unless it's a choice coin.
Very interesting! Thanks for doing this.
Thank you for your videos!
Those O/O are so common it’s not listed on all holders
Thanks!
Thank you
I always say leave some meat on the potato for the guy who will be selling them on....
Thanks for the very informative video. 👍
Good video. Thanks
I Ned someones help on a Morgan Silver Dollar I have . There may be a mint mark but there is no word “Dollar “ anywhere”
Only words (no dates whatsoever on coin and it is not worn either ) Liberty on Crown
I’m not at all very knowledges with Morgan Dollars any help would be appreciated in identifying year maybe on coin?
No personal database?
Why would I need that? I need everyone else’s.
Seems Fair.
Very good video Daniel. I enjoyed it 👍
The PCGS slabbed coins really should get at least 80% of retail, if you ask me, especially if they're being sold online or at a show. Typical profit margins are about 15%, but if overhead is high, that does have to be considered, of course. Actually, I'd say the same across the board. If a raw coin without problems is getting $100 on eBay, it should cost about $80 for the dealer. If it's a problem coin, prices should reflect that, of course. If you can't find comparable values for problem coins then they'll have to be discounted, and I could see a problem coin going for about 60% of retail for a problem free coin, or about 80% of the next lower grade. That's about what I'd expect. Don't get me wrong - if the customer is happy with less, that's great for the dealer, and I don't really fault a dealer for trying to get the best deal possible, but the seller should get about 80% in my book, and even 85% to 90% if the coin is in real demand and retails for a lot of money, like at least $1,000.
Problem is PCGS price guide is over inflated, a dealer would go out of business buying 20% or less back off their list value. You go by what they’re selling for lately and 20% isn’t enough unless the coin is worth $1,000 or more.
Bottom line, if you want more then find your own customers. It takes a lot of work and time to resell as many coins as I buy and I am a small dealer. Building the customer base to be able to move large amounts of coins is a whole other animal, and it’s important if you want avoid the fees of online selling sites.
@@CoinHELPu yes, it does take a lot of work. I'm going by what I've seen in the market in New England, especially at coin shows, where most of the buying and selling happens in this part of the country. If you're talking about raw coins from a dealer in an antique mall, sure, you'll get quite a bit less from a dealer than if the coins were PCGS slabbed, of course, but they'll also sell for a lot less, and most coin shops here have closed, and the few that remain open do most of their selling on eBay or through auctions, and many, for some reason, don't sell slabbed coins, or sell very few. Certainly it's easier to operate with smaller margins when coins are at about $1,000 or higher, which I mentioned, but if business is brisk, and it certainly has been here at the coin shows, you can make up for it in volume and by having pricier coins, and selling on eBay, and this seems to be viable for the dealers I've met and worked with. If you find that PCGS values are inflated, I think that depends on the kinds of coins you're talking about, and that it's probably relative to your local market - I've seen a lot of PCGS slabbed coins around here going for about what's in the PCGS price guide - most, in fact. There are some deals, but there are also some that are priced at a premium above PCGS prices as well, especially if they have a lot of eye appeal or they're hard to find, or if the coin is in an old holder. If a dealer doesn't have a lot of volume, is selling mostly sub $100 coins, and has high overhead from running a brick and mortar shop with employees, etc., then sure, I can see a bigger margin being necessary, but I haven't really seen much of that around here. I've seen lighter overhead strategies mostly, and thinner margins to encourage liquidity (sales).
As shown in the video, I use PCGS, NGC, CPG, and various sold auctions and for me 30% off retail is the most on common coins. I make less than that and pay more for key dates and higher value coins. There's just no rule on a dealer should pay 20% back of retail, it's not black and white, but I do appreciate your comments, very thought out from keen observations.
The fact is buyers are always trying to get deals as well. All of your customers are not coming in going I'll give ya 100% of what it wells for on ebay. So if customers are trying to get it 15% off retail ND he is in it for 80% of retail he is only making 5% and if the market drops a little then possibly making 0% so I get it. As a buyer I want the best deal possible but I also wanna sell for most I can. Well he can't sell stuff for good deals if he us also overpaying
@@wheelman0799 true, one has to also assume I can or am selling for retail. Most dealers do not, they do try and some coins do, but not all coins, there's always deals being made that people don't see. i can buy coins from other dealers in the networks for less than retail all the time.
What does VAM mean??
VAM is a term used to describe variations in Morgan's and Peace dollars. It is derived from last name initials of LeRoy C. Van Allen & A. George Mallis, whom wrote the book "Comprehensive Catalog and Encyclopedia of Morgan and Peace Dollars"
A VAM is a Peace, or Morgan silver dollar die variety that has been identified in an all-inclusive book called The Comprehensive Catalog and Encyclopedia of Morgan and Peace Dollars by Leroy C. Van Allen and A. George Mallis. The term VAM derives from the first initials of Van Allen's and Mallis' last names. source: the Susan Headley. updated 11/30/21.
72% of retail is MORE than fair by a retail dealer
Where is danial coin shop
Whoo boy. ☺️👍
I have an 1878 silver Morgan dollar
Hey gday Daniel
I have 1893 S,i wanna sell it and i am from the Philippines,i am looking for a buyer
I want to sell some of my coins how can we do something?
Send an email list.
I have 1983
It all looks like a bunch of junk to me. There wasnt a Gem in the bunch. Its so boring to own a bunch of low to medium grade coins. I own stuff that is like as high grade as I can afford which means I own as many common date gems as I can. I have like a 73s Silver IKE DOLLAR, MS65, A 1922P PEACE DOLLAR PCGS MS65, 1880S MORGAN PCGS MS66, MORGAN PCGS 1881 MS66+. I ALSO OWN 3 OF THE NEW MINT 2021PEACE DOLLARS IN PF70 as well as a bunch of 1976 Silver proof sets that are stunning coins, not graded by PCGS BUT BEAUTIFUL. I CANT STAND OLD WORN OUT LOW GRADE JUNK. IT WOULDNT MATTER HOW MUCH I COULD HAVE BECAUSE I DONT WANT IT. INSTEAD HAVE A SMALLER GROUP OF TYPE COINS THAT ARE AS NICE AS YOU CAN AFFORD. A MORGAN,WALKING LIBERTY HALVE, MERCURY DIME, BARBER QUARTER, INDIAN HEAD NICKLE, V-NICKLE, INDIAN HEAD PENNY, LARGE CENT. GET ALL THESE IN AS GOOD AS YOU CAN AND DEVELOP A SET THAT AREVERY NICE GRADE COMMON DATES TO SHOW THE REAL BEAUTY OF THE COINS OF AMERICA OVER THE LIFE OF AMERICA. ONES THAT ARE PLEASING TO THE SIGHT AND INTERESTING TO EVERYONE WHEN THEY SEE THEM. NOT A BUNCH OF BORING WORN OUT COINS THAT DONT EVEN DEMONSTRATE THE TRUE BEAUTY OF OUR COINAGE HISTORY. IT REALLY IS VERY INTERESTING AND YOU WILL BE PROUD TO OWN THEM AND SHOW THEM TO YOUR FRIENDS AND FAMILY.
I have 2000 one cent sell plz
Need new/better camera! Focus is terrible.
Just checked, focus is great. I looked on my large screen TV, so check your device.
Too much profit mon , you can do better
Start your own coin shop then come talk to me, mon.
I think you are offering a touch too much. The cost for you to sell on the internet or your shop, I don't think is being considered in your offer column. You are being too generous. Not enough margin.
A coin dealer worth his weight in salt will never try to squeeze the last penny out of buyers. A dealer will do exactly like Daniel and look at what the market is doing. The margin on popular and key coins will almost be less than a coin which is not in high demand, or, the price is so high that average collectors can't afford them. The one subject which isn't addressed is turnover. A dealer would much prefer to sell a coin with a lower profit margin and move it quickly than to have a coin sit in their inventory for months. Coin dealers are running a business and have to make money to cover their business expenses.