How Much Do Coin Dealers Deserve To Make When They Buy Your coin Collection?
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- Опубликовано: 17 окт 2024
- How Much Do Coin Dealers Deserve To Make When They Buy Your coin Collection?
Most coin dealers are NOT shysters or dishonest but every profession has jerks and dishonest people. So the coin dealer profession is no exception to that. However, buying coins is complicated with all the types, denominations, precious metal content, dates, mints grades and mintages. It takes professionalism, honesty and understanding from both sides to seal a deal.
In this video I explain some of this and how we conduct business in our coin shop and speak a little on the art of haggling coins.
Watch my other videos on this subject linked below:
How To Deal With A Coin Dealer • How To Sell Your Coins...
Wholesale Retail Coin Dealer • Difference Between Who...
Insider Coin Dealer Secrets Part 1 • Make Money Like A Coin...
Insider Coin Dealer Secrets Part 2 • Insider Coin Dealer Se...
Video is examples of what can happen. Not all dealers are offer 40% or 50% back of Gray Sheet for ALL coins and making a 40% is ideal, not what happens on a regular basis. Profit margins are low in this business.
Maybe you should have saved on overhead by not wallpapering your wall. You're going to pay somebody $2.50 for something that paid $20 from the mint for if you want to do the right thing you will tell them just to hold on to the set and keep it for several more years.
Business is a rough thing. It doesn't Hurt any for the people selling to understand profit has to be made too. Time is money and effort takes time . dealing with people takes alot of effort.
@@nonenone5023 maybe you should start your own coin shop or business and learn something. I am not going to lie to people and tell them to keep and they will go up. What they paid is irrelevant. Most that bring that in don't want it and didn't pay for it. I can buy these for $5 at eBay so you just need to learn the market and how this works before you comment. You have a lot to learn about all this.
@@CoinHELPu That's funny because I do have my own coin business and I would never hold back 50% from somebody. I guess some people just aren't as greedy as you. I'm well aware of Grey Sheet and eBay prices and the thousands of other resources to price things out. The internet does wonders for research I do it all the time but thank you and have a nice day. My uncle's been collecting coins for well over 50 years and this had me collecting coins for over 30 I still wouldn't beat somebody up as bad as 50%.
@@CoinHELPu Well said sir!!
I believe in supporting my local coin dealers. Do your research beforehand and make educated choices. No one is putting a gun to your head. I appreciate coin dealers for their knowledge and making it possible for me to buy and sell coins.
"No one is putting a gun to your head." It's too bad so many people have been conditioned not to understand that. Of course recognizing that means you're willing to accept that sometimes you make mistakes. Sadly a lot of people's egos simply can't handle that so it always has to be someone else's fault.
You always are so fair, I regret saying anything bad. You hit the nail about a coin dealer outrageously took my dad for $. That's why I always tried to learn as much as possible. Thanks again
That's sweet
Honesty in a business is not only the RIGHT thing to do, it grows a business when people learn they can trust you.
I wish I lived closer to you I would be in your shop all the time. Thanks for the videos!
Great episode Daniel, I like to say "integrity brings prosperity" . When people take advantage of other people, one day it will back fire. without integrity in any business or anything we do karma will always catch up.
youre kind of a numismatic hero lol. you are showing us the truths of coin/currency business that many people wouldn't know otherwise, and helping some people better understand how to not get ripped off and get informed. i raise my glass to you. cheers
Thank you!
I am GONNA DRINK THE WHOLE BOTTLE FOR HIM. SUPER COMMENT. I AS ALL OF HIS FOLLOWERS GOT A GREAT GIFT WITH THAT GENTLEMAN DANIEL ❤✌
I raised my 50 gallon jug to BOYFRIEND. CHEERS BACK TO YOUS
Ahh. Honesty. Like a breath of fresh air. So refreshing. Not just this video but your others too. Where's your store? I wanna buy and sell with you. Ripping people off is never good.Thank you Daniel.
I am in Portsmouth, Ohio and my website is portsmouthcoinshop@gmail.com Thank you!
Daniel thank you for being so candid about how the coin dealers should be!
Hey Daniel its refreshing to hear a coin dealer talk about the way you guys really do business
You are a good man Daniel. I know that we have never met in person, but from the first time that I seen your videos and listened to you I could hear the honesty in your voice. I dont know exactly how that works but the more I listen the more I am reassured that my first instints are right more times than not. It was real hard for me to listen to my first instint. But the more I practiced the better I am getting. Just like everything else practice makes perfect. I think that this is how I learned of the power of positive thinking. Which in turn has helped imeasurably in my recovery. I am now finally seeing what I am reaping from the accident. Like algebra not only seeing the conclusion but seeing every step it took me to get there. Wow I just had an appiffany. Whoe.... Thanks Daniel. And you have yourself a glorious day !!! !!!!
This came up randomly and what I will always say it is what the market bears if you have relationship with your LCS it is a win win situation
It's nice that you out this out,. We have 3 dealers here, 2 small shops and 1 much bigger shop. Took 5 1922 peace Dollars to all 3 shops just to get a feel for them. The big shop offered me $25 total for all 5 coins, 2nd shop offered me $40, and the 3rd shop offered me $55. Was the 3rd shop the most honest?
Probably paying close to melt Silver for your 3rd Dealer.
We would have paid $70 for your Peace as long as they wasn't slicks or had some damage.
@@CoinHELPu yeah all circulated but good shape. Where in Ohio are you? Lmfao I have 64 more...... lmfao Morgan's and peace Dollars. Not averse to traveling from Michigan.😂
@@2AChef-n-BBQ I am in Portsmouth, Ohio and would be glad to buy them. 5 hours away or so. Although we do set up at Columbus once a month.
@@2AChef-n-BBQ You could send them in a flat rate and I would send payment.
Daniel
I really appreciate your honesty. This goes along ways in my opinion.
Thank you for the information you choose to share that you don't have to share.
I was thinking about taking a few coins in my collection to a Coin dealer nearby.
You opened my eyes a little wider. God bless you Sir Daniel..
Most people don't understand the expense of being in business. But on the lighter side, I am one of those people that love the worn patina Morgan dollars because they tell a story. Nice to have those MS ones but not much history behind them, other than being stored in a bag at the vault.
Check Wikipedia about the Morgan my friend
I feel you're being honest, this is how I intend to play this game. I would love to make this my form of income. So much to learn, thanks for the video.
I have learned more by watching a handful of your videos that I have learned in my previous 5 years of casual coin collecting. Thanks!
Thank you
Are all coin dealers honest? NO. But it is refreshing when you find the honest one. I count you in the better of the best. Thanks Daniel.
I found you.Good evening my BUDDY who won't MARRY. How are you?
@@margaretstoner4701 ??? I was married once and divorced. Got married again and she died of Cancer. Now, the #METOO movement has told me to NEVER AGAIN.
DEAR Mr. BAKER....I AM EXTREMELY SORRY FOR YOUR LOSS. YOU DESERVE HAPPINESS THOUGH. YOU DON'T HAVE TO MARRY SOMEONE TO LOVE THEM. IT'S JUST A PIECE OF PAPER. YOU DESERVE GOOD. NOT ASKING YOU MY FRIEND TO PUT A RING ON IT.! THAT'D. MAKE ME A NUT.I SIMPLY NOTICE PAPER CHANGES THINGS.YOU SEEM LIKE A SINCERE GENTLEMEN THAT JUST WANTS A LADY FRIEND. PS..I DON'T KNOW HASH TAG...SO ARE YA MESSING WITH ME?SMILE
@@wandlbaker Hi MR. BAKER. ALWAYS GOOD TO SEE YOU. I HOPE YOUR THANKSGIVING WAS A GREAT DAY. ❤
@@wandlbaker and ...you are a hoot .you made a funny. THANK you.❤
Thank you for your rapid response yesterday on my 1965p and 1968s pennies. I called ANACS and they were very helpful. Thank you again!
I know your fair at buying and selling I really wish I was closer to portsmith I'm 2.5 hr north east but work down there occasionally and next time I do I'm gonna stop by and get some gold or silver depending how much paper 💸 I got on me!! Great video brother
Here in Denver a coin dealer took me for hundreds of dollars. He really took advantage of me. I didn't understand coins. I wish I would have listened to your programs before seeing him.
Great vid! Being an honest and straightforward individual will go a long ways.
Thanks you
Good morning Daniel thanks again for a good video
The very nature of a business is to
“Maximize profits and minimize losses”
I have found through the years that more than a few don’t understand that concept
Having been in business 42 years it was often times to close to the latter but i survived and now sorta retired still I work but just for me and enjoy the things I do
I collected for years and love doing it still
I recommend to any one to do some research on their items and look for dealers they feel comfortable doing business with like you said
“Ask questions”
AWESOME!!!!! KEEP UP THE GOOD WORK ❤
Thanks for the outline of the business side of coins. Thanks for help
This is a great help .this is why I watch this video
Cons can be found everywhere. High places, low places, almost everywhere in all sorts of jobs. Portsmith Ohio. Thank you for all your work.
Yer, Car dealerships and Banks are bad.
If you own a business it is not to give money away it is to hopefully make a living, it is your lively hood.
Thank you for taking the time to make this video.
You're welcome
Hi Dan, Its refreshing listening to you. You are honest and upfront. Do you have a website for your store?
Thank you, it's portsmouthcoinshop.com
Im learning and I will always try to Learn something new.. on this subject my opinion is that it’s like Buying or selling a car..
if you don’t know what you are selling or buying you are going to get ripped off.. some people take the time to do the research and some people don’t and that’s the difference..
Do you have a online store?I would rather buy from you than online because you seem to be a honest dealer. Really enjoy the video,s and keep up good work. Thanks,Mike
Yes, here it is portsmouthcoinshop.com/
Great info , I’ve also had dealings with good honest fair dealers & some “ not so much” , definitely have to do your homework.
This is a full time JOB Karen.At least you shopped around.Good job. I also had that in the area I live in.Knowledge is everything in coin COLLECTING. Have a great day❤
Thank for for being honest. Please do a video on how to tell if a coin dealer is either ripping you off when buying or selling fake coins. I know you’re trustworthy but some aren’t.
I PERSONALLY dealt with your situation. I realized that you MAY have to visit several coin dealers in your area if that is possible for you.I picked up on the coin dealer that WANTED to sit down with me and explained to me what I had.And he... (the coin dealer) would look forward to seeing you again
They are not all bad people.You MAY develop a friendship with them if your not even selling.Mr.Stienmetz in Pa. Became a mentor and was always fair to my family. I hope you MAY find a trustworthy coin dealer ENTHUSIAST as we all do.Good luck to you.❤
Margaret Stoner I only know one LCS in my city but I have a second shop I have gone to but my main shop doesn’t use the tester to show me if it is real.
I viewed your video & I thought it was very interesting on your views of what too look for out there and to do your own research also. Thanks, for honesty liked your video too!!!
Thank you
very complex. yes you have to be knowledgeable.. I can see now, wow!!. Well I appreciate the time you have invested in your videos... Thank you.
The question I have is how do dealers buy Constitutional (or junk) silver and bullion - because the price could go down - you don’t want inventory. Is it a % of spot?
Not sure what you mean, as a dealer we have large turn over so we have inventory, that is a must, but it turns over.
Thanks for reply. To simplify ... for non-numismatics Junk Silver 90% dimes, quarters, halves. - if someone is selling $50-$200 worth of face value - what percentage of spot price would a coin shop pay?
KNOWLEDGE is pwer. I cannot blame a COIN dealer if I was walking in (blind) "meaning no KNOWLEDGE about what I was selling. I am however "BLESSED" I HAVE AWESOME COIN TEACHER'S....AND GOD BLESS THEM WHEN I SEE CERTAIN PEOPLE AGAIN....ONLY KNOWING YOU GAVE ME EXPERIENCE IN A FIELD I SHOULD HAVE STUDIED.MALONE...YOU GAVE ME KNOWLEDGE...I AM NOT EVEN CLOSE TO YOUR EXCECTIONAL EXPERIENCE IN THIS FIELD. THIS BUSINESS ISN'T SOMETHING YOU LEARN OVERNIGHT. IT'S A LIFETIME OF LEARNING. ❤
Thank you so much for this video. It was perfect timing for me to learn about this. I'd love to hear more.
Your channel is helping me to learn a lot more about coins.
Good to hear
Atta boy Daniel . Thanks for your honesty.
Atta boy. That's what's up. Now you my friend earned a compliment from me
..pat YOURSELF on your back.sweet comment
@@margaretstoner4701 thank you Margaret
Thanks for this video Daniel and you have a great day as well.
Thank you
Hi Susan...i am happy when not ONLY kids are getting into coins...its US YOUNG WOMEN ALSO.❤
I’m so happy I have a good coin dealer. Been going to him since I was 10 years old... sells me great looking junk silver for spot if not under.
Come again?
What is junk silver? Like spot price melt?Thank you.I am still studying.
You are a principled man.
Good video Daniel. Knowledge is key
Took my Morgans to 2 different dealers the difference in price between the 2 was $1100 dollars, and neither one offered me 50% of the value by greysheet or even 50% of what I paid for them. (Yes I kept the receipts)
Very informative. Thank you
Sounds like your up and up just like i said you were. thanks for the education, clears up a lot of the myth about coin dealers in general.
Thank you
I understand that there are good Dealers and Bad Dealers. I'm just worried what my kids
know. I have three sons and all their opinions are different and it scares me.
Thanks Daniel for another good video. Have a great evening!!!!
Oh...gosh bless you! YOU have " hear no evil...speak no evil...see no evil...and there will be no evil.Sons are awesome!❤
@@margaretstoner4701 LMBO and have a great weekend.
Good morning Daniel, I have a quarter that I suspect was in the California fires on one side it has cloth that was actually melted into the coin you can see the impression of the cloth on the coin. I would like to be able to send that to you so that you can use that as a teaching tool when you discuss coins and error coins that are not actually error coins. Your business is Portsmouth coin and stamps is that correct? In what Portsmouth? I'll be getting that off to you in the next couple of days have a great one love you God bless take care
No it's Portsmouth Coin And Currency PCC
Thanks Daniel....I know it would be worth a drive to get an honest price from you. Today with the internet one can somewhat figure a price but that person may miss something that an honest dealer may find better or worse.
Wouldn't be a problem at all. I tell people what they sell for and what we pay.
It's less expensive to keep a customer than create a new one. A satisfied customer tells 10 people. A dissatisfied customer tells 100.
Great video. I'm dumb founded and no more than I know about coins I'm ready to start selling next month. Thanks to what you have taught me. Your in business too make money if not you wouldn't open up a business. Anyway I'm from a place called liberty KY born and raised I moved from there
20 + year's ago to Nashville Tn. Anyway look up Casey county Apple festival. To be continued. Thank You Daniel
Thank you
Like this video 10x 💕👍🎈👍👍👍 Thank you Daniel for sharing! V
I brought a coin in to my local dealer that I purchased from a competitor. He proceeded to tell me I got ripped off and the value was less than 25% what I paid. I waited about 3 months or so and brought it back to him. This time I told him I bought it from him about a year ago. Well, guess what? Now, the coin was worth considerably more, and it was a great deal!
LOL!
WHAT?? BUT THIS COIN IS RARE AND VALUABLE -- I BOUGHT IT ON TV!!!
Funny thumbs up
LOL
You funny✌
Besides the State Quarters frenzy, one of my favorites and somewhat confusing is the commemorative gold Mercury dime. I picked one up at the shop but i'm actually surprised of how unpopular they are, time will tell. 2000 made, i'm in.
Your silly
I’m not a dealer. I’m a private collector. I recently made an offer to a man in Arizona for his inherited collection. He had been to a dealer that made him a substantially larger offer than I did hee admitted after my offer. The dealer got to see the coins where I only had pictures. Offers go both ways. I advised him to go back to the dealer it was more than fair.
This is a great video. As a consumer and collector I understand a guy has to eat so he has to make money. I do not have a problem with that. I mentioned in a previous comment I have been collecting since the early 70's may have actually been 1970, made a lot of mistakes along the way. I think the relationship and loyalty to a shop is actually important but it has to be the right shop. Remembering you are a consumer I would see a piece I was interested in and research the heck out of the coin. Stationed in North Dakota there was a place call Colonel Coins I could spend hours rolling through the old glass cabinet. This was before the internet so I would have to go back and check through books I was looking for high quality eagle cents all three not including the 1856 ;) at the time. My dealer kept and eye out and found me three pieces at a price I could afford on my military pay in XF condition. I bought them about 20 - 25% under Red Book in the early 90's. Not a particularly popular coin in the 90's and I never had an expectation I was going to find my fortune collecting coins. Coin collectors I feel often over inflate their grades or have an unrealistic expectation of value. So if you walk in well informed you can get good deals, dealers will talk with you normally the relationship over time is important. I think some of that has been lost these days. So I always appreciate the local shop with that feel. If I walk in and they have $60 Modern Silver Eagles I am not going to spend much time in that shop.
I agree and very good points!!!
Thanks as always for your insight !
I’m lucky to have a great local coin dealer 😊❤️
We're lucky to have a great customer like you!
I think my local coin dealer plays fast and loose with customers.
Sometimes I see a specific coin priced at say , $20 .Then the same kind of coin in the same condition for a different price.
She will give a small discount on a couple of coins if you buy several but I'm beginning to think she overprices alittle so she can do that
Bravo ! Honesty!
,Coinhelpu.that is genius .love the. name.,trust the channel..👍👍👍👍👍
WE HAVE NO Grey Sheet Daniel and Thanks Again!
INTEGRITY HONESTY VISION and Graded Coins Sealed and Graded. What is a good Price?!
You can check ebay sold auctions for pricing.
Every man or woman makes there on decisions.. a "person" can research with ease in this day and age..or locate some one who will...KARMA .a "person"sows goodness or ? And it's returned .so if you sow seeds of fairness you shall reap fairness..the person who is unfair..Will be treated unfair maybe not monetarily..but ..my opinion. Will suffer same fate they have bestowed upon there fellow man. Thanks Daniel..
Wow.loved that. You are deep. Fricken AWESOME!❤
Wow! LOVED that! That is sincere and deep❤
I like your thinking❤
Hey Daniel I have a question for you I have all the new west point pennies from the mint. Should I take them out of that bag or keep them in the original package. I didn't no if the bag is coin friendly.
I can't be sure, haven't heard anything about them so far, nothing turning or anything.
The coin shop in Ventura is very honest ... He will pay you at spot ... He's also told me things I needed to know ... Unfortunately brick and mortar shops are disappearing thanks to internet shopping ... Sucks because I like making wheels and deals at a shop you can feel comfortable in ...
Only the shops that don't sell online, they need to get with the times and survive.
Daniel ,very interesting video. Thanks jerry.
PRICELESS...PRICELESS...PRICELESS...❤× infinity and beyond. P.S. STALKER THINKS YOU ARE A GREAT TEACHER AND YOU LEARNED ME UNBELIEVABLE KNOWLEDGE ❤ PRICELESS!THANK YOU DANNY.
Awesome video your too honest
Much appreciated. THANK YOU. You are such an honest man that you learned us ENTHUSIASTS to EVEN ask that question. God bless you BOYFRIEND ❤ KNOWLEDGE is power.× infinity and beyond
Also, is grey sheet retail these days? If so, if I want to buy a coin from another non-dealer for a price no higher than what a dealer may pay for it, how do I find out that dealer price? Thanks
Call up other dealers ans ask what they're paying for it.
Back when I collected coins in the mid sixties they did not have all the MS grading and coin errors you have today. Back then the grading went from Good to extra fine to Uncirculated and you didn't have to use a magnifying glass to find all these crazy errors you have now. They did have the 3 leg buffalo nickel and the double die 55 cent but never as a scale like it is today. The internet created all these coin roll searchers now looking for silver and with the new W mint they stuck on quarters it is like the California Gold rush. All in it to flip and make a buck. Hard to keep up with all these new mint issues coming up and I can see why many are getting out of the hobby. Then you have these MS 70 coins that sell for thousands of dollars were back in the early days it was just Uncirculated and not priced thru the roof.
Recently sold some coins to a dealer and was a little disappointed with the price but he did allow me to buy bullion before I left the store , Which I was after, for Under spot so he did hook me up in the end.
Fair offer is based on turns by supply and demand. If it sits it costs money. It doesn’t just apply to coins. Any product.
Hello sir, I submitted coin 1943 steel penny its 2.9 to 3.0 grms...real steel penny is 2.7 grms, right? I think my coin is experimental or wrong alloy mixed ..why PCGS never mentioned if why is 2.9 or 3.0 grms causes then only stated is ginuine AU 92 cleaned..
Whenever I go to a local coin shop to either buy or sell I usually pretend I know nothing about coins just to see if the guy will take advantage of me and see how honest of a coin dealer he is if he's a straight shooter and a nice guy I will do business with them but if he just tries to screw me I'll never go back there again
Good idea. I guess this would also depend on what you think of as a screwed over offer as well.
Screw you? How is it THEIR responsibility to look out for YOUR best interest? Are you going to come around later when they've been taken advantage of and share their burden? NO! Now I'm not talking about someone lying to you but if someone offers you a price and you accept it then that's on you. I'll never understand people who expect businesses to be their FRIEND. Especially not when they are looking to get the best deal possible without consideration or concern for the business.
@@tonyrmathis I understand people need to make a profit I also understand what the fair value is for my coins and I would not accept a lowball offer. It's more of an experiment to understand the mentality of the business owner if a guy has the same mindset of a used car salesman damn right I'll take my business somewhere else. I had one guy pull out a red book from 30 years ago and start quoting me prices like $9 for a circulated 1886 Morgan silver dollar spot price was 18 at the time ..just shows me the character of the person that I maybe spending thousands of dollars worth of business with...not sorry for doing my due diligence..and screw you too buddy
@@stopasking9745
"has the same mindset of a used car salesman" No generalization there!
You do know there are used car salesman that shoot stright with people, right? If you want a better example try POLITICIAN.
As I've stated in other post lying and deception are not 'business' they are the tactics of liars and they exist on boths sides of the sales counter. And while you condemn a coin shop owner for being deceptive you expect to be appaulded for your own admitted deception. Double standard much? When a cop does what you do we call it entrapment. Has it ever occurred to you that you might just be meeting a guy on a bad day or just after he lost a small fortune on a deal? Could it be the guy has been honest for 40 years and watched his dishonest competition grow and expand while he remained stagnate?
Consider the case of small businesses when WalMart comes to town. WalMart gets tax abatements, easements and traffic control all the local businesses had to pay for. Then these same small business owners have to watch as WalMart sells cosmetically similar but inferior quality goods to their local disloyal customers who abandoned them for mere pennies.
Now imagine being that same small business owner, going bankrupt and end up working for WalMart making half what you used to make. I've seen it happen in my community twice when WalMart then Home Depot came to town.
Want to talk about honesty? How about taking someone's tax dollars then using it to put them out of business. But hey! We can't expect consumers to spend a few extra pennies (like I do) supporting local business when they can use them to buy the mega size cheetos and a 'Buy American' ball cap made in China from a big box store.
That all said maybe you'll reconsider your deceptive practice of inticing what may very well be desperate business owners into fleecing you. Instead treat them like you'd want to be treated and understand that temptation is sometimes hard to resist. Especially when they have conpetition that most certainly won't resist.
You're there to do business not make a friend and you'll never be in a position to judge until you open up a store of your own and eal with the same issues they do day in and day out.
And try to remember all the collection dumps we see on roll hunting channels are due to people who don't know what they've got throwing away value at banks. If those same people had gone to a coin store and receive half what the coins were worth they would still be better off than going to bank.
Put it this way. If you had a coin store and a crackhead walked in with a collection saying they were going to go to the bank if you didn't want them what would you do?
I know what I would do. I'd give them double what the bank would and if I lost any sleep it would be from wondering if I killed them with the extra money.
@@tonyrmathis your message is getting rather political and way off topic , largely I agree with your political points . I am also a small business owner . I'm a soft-spoken individual typically but I'm giving this fellow small business owner the chance to either potentially screw me over versus give me the same fair deal he would offer anybody else I'm not telling him I know nothing about calling so I'm not technically lying however I am being deceitful I'm not sharing prior knowledge and background to numismatics the coin dealer that I previously mentioned with offering me $9 for Morgan silver dollars when several other coin shops in town will pay 15 times face value... at the time meaning 15 bucks. I gave the other two coin shops the same test they both gave me roughly the same price this guy with almost 50% less for the same coins so sorry he's not getting my business sounds like you're taking some of this personal. Somebody must have called you a crook or a liar or deceitful recently don't take out on me
I wonder what that 1893s looked like before the kids played crash up derby with it ?
I am a lovin your voice with earbuds. ,❤
I think the BIG BAD WOLF COULD COME INTO YOUR SHOPPE AND YOU WOULD BE AS HONEST WITH THE WOLF AS THE LITTLE RED RIDING HOOD. THANK YOU FOR SHARING. ❤
Thank You for the video, take care,!
As in all professions there are honest and dishonest people as there are lazy and hardworking people.
My dealer generally uses gray sheet as selling prices.
People also dont factor that if you use Ebay, macari and PayPal will take up to 30% from any sale. I deal with collectible cards and video games and sometimes even at half I may not make enough to factor in my time to list, pack and ship. Plus I may still get hosed by the buyer.
No they don't
I believe you....and i wonder alot is it worth it. This is why I so RESPECT EVERY teacher that is helping us ENTHUSIASTS ❤
Thanks Daniel, man i wish you were my local coin dealer!! Do you do online selling and buying?
Yes, I buy and sell online portsmouthcoinshop.com
@@CoinHELPu thank you sir! I will check it out for sure! You are great by the way, ive learned so much from your RUclips videos. Ive recently moved away from numismatics and went into stacking goldand silver but ill always be a coin collector at heart and still buy some coins here and there. Thanks again Daniel, keep up the great work buddy!
Thanks! Always hit me up, we do sell bullion. Can't always beat the big companies but give us a try!.
@@CoinHELPu i will for sure! I always try to buy from the little guys even if i have to pay a little extra😀👍 Im a small buisness owner and i totally get it. Thanks for chatting with me today😁
@@GRAMSTACKER You're welcome and thank you
I know that what LCS buy for I just sold 2017 limited edition silver proof set for 85 I paid 140 stuff like that is what inspires me to do an auction or to sell at a coin show i know I am not going to get full price unless it's a lower mintage one like the ATB 5oz coins most of those in a 69 grade your not going to sell what you paid except for the 2012 5oz set i sold mine and broke even I still have the 2011 5oz set in 69 grade with one specimen coin with the p mint mark
I just paid $400 for the 2011 5 Coin Silver Eagle Set and sold it for $450 plus shipping. After paypal fees I made a little over $20. People think dealers are rolling in it but not the small dealers.
i enjoy your forwardness
He found Bigfoot!Smile❤
Very informative video.
I've also assumed that Heritage or Stacks will pay the most money for common date gold coins like the 1908 $20 no motto graded MS61-65. They pay me dealer prices. Is that a correct assumption? Most coin dealers sell to them so if a coin dealer bought it from the public they'll have to pay 92% of melt value if it's MS61-62.
I don't sell to Heritage. We have our own customer that buys our coins.
Ask more of these questions PLEASE. CAuse I am hearing UNBELIEVABLE AUCTION results and i BELIEVE my COINS look BETTER?❤❤
Love your vidio ,thank you buddy
If you are selling or buying anything you should do your research. If both parties are happy then so be it. Doesn't matter who got the better deal. And when it comes down to it no one is twisting anyone's arm to sell or buy. Just like at an auction people say I got a deal on this or that. But did you or did you just pay more than anyone else would! 😂 Just my thoughts on selling and buying
I don't know it seem that i been wasting my money collecting coins because i will never get back what i payed for it. I though i had a nice collection.
But after watching your video it's just pennys on the dollar.
Thank you for the info. 😀
Do you like your collection?
Yes, I do like it, 60+ years of collecting stuff by nothing real special no gold
couldn't afford it. But I was hoping that in a pinch I could sell it. But I have a question I wanted a camera that i could take a close picture of my coin
and put it on my coin software, But I bought a USB camera scope but it won't let me get the whole coin in the shot. do you know one that doesn't
cost a lot that will work for what I want to do? Thank you for your video's
@@Richard-nq3rh You can get phone camera microscope starting at $10 and up. They should be good to use for that, some have 60x resolution.
Would you pay 92% of spot on a modern bullion coin like a gold buffalo? My local coin dealer pays spot on gold eagles and buffalos and around 97% on pre-33 and foreign 90% gold coins.
If he's paying spot for anything then he already has a buyer who will pay him over spot. Gold Buffalo's are a bit different than gold eagles so make sure you heard him correctly.
Are the pennies minted from 80-85 worth saving since there is a change in number of steps?
No, there were billions made.
Steps on cents don't mean anything so no they're not.
You have loyal customers for a reason :) GL & HH
Hey Robert, I am completely lost on your use of the term 'Split Grade' (7:16) in reference to the '27 PD in 62 grade. I have alway took split grades as the assigning of different grades to both the obverse and reverse of a coin (64/63, 65/63 etc) as they did in the early days of Photo Certs and Photo Slabs.
Who's Robert? Split grade is grades in between like MS62 is in between MS61 and MS63 or MS61 is in between MS60 and MS62. No one wants those grades because they're split between the more common grades of MS60 or MS63 or AU58. Some would rather have a nice AU58 than an MS61. Unless it's a rare coin in MS grades.
Another great video. I did see on heritage auctions they have PCGS, NGC, CDN, and the current market prices listed in their price guides. It is very helpful. I look through the most recently sold on eBay as well. I guess what you would call a "vest pocket" dealer, I get morgans and certain other coins that are listed quite a bit under their actual value, get them graded and then resell for more. One that has taken me a while to learn is how to do a better job of getting an idea of what a coin might grade by looking at photos. Thanks
Not every Dealer is dishonest , sometimes you have to travel distances to find the honest dealer. I refer to one that uses "coin world" to set his retail prices ...doesn’t want to help or give his advice and Seen and heard scamming customers ...yet because he’s been there so long in his shop everyone goes to him.? I wish i was in Ohio to meet an honest dealer. Thanks
Don't we all?
DEAR Daniel. Hold on a 2nd....please also send this to Silverhound cause I love YOUS both. Keep in mind us women out here ARE also paying attention to the coins. He mentioned a young LADY Beverly.... maybe it's easier for the LADIES TO UNDERSTAND...CUT..clarity oh crap....its just QUALITY love ya BOYFRIEND ❤❤❤❤❤❤❤❤❤❤❤❤❤
THANKS DAN.
I'd say the coin business is only getting tougher. Fewer ppl are enjoying this hobby than before and the future looks worse. I buy beautiful coins for melt or less unless they're particularly rare. My LCS buys bullion @ 10% under melt and sells for slim margins around spot. Great if I'm buying but not for selling. He also doesn't sift though coin collections brought in for sale. He gives a $/face offer take it or leave it.
As long as you TRUST who you are dealing with?