coin sales
Moderator: Daniel
Forum rules
Here's a link to how to post a topic with images in our community https://coinauctionshelp.com/welcome-to ... community/
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You also agree to follow these guidelines. You must agree to these rules to be a member of this forum. NO SPAM! Spam is deleted within minutes, no spam will ever be left in our community.
1. Post a front and back image of your coin with a specific question about what you’re seeing or asking about and one coin per topic.
2. Please remove coin from the holder unless it’s US or an official mint case or unless it is graded by a grading service.
3. Images should be taken by a camera or cell phone camera, we ask that members don’t use images through a microscope screen.
4. Always start your own topic, please don’t ask about your coin or post your coin in someone else’s coin topic.
5. Do not send private messages about your coin unless an Admin ask you too and the same for sending emails through the board.
6. No spam. Do not post any links to your coin or other non-coin websites.
7. Always be respectful even if something makes you upset or you don’t agree with a member. You can always get a second opinion elsewhere. If you have an issue then politely ask an admin in an PM. PM’s are for issues, technical and personal, but not for coin questions (refer to number 5 on this list). Our community is not a soap box for complaining or drama, so please refrain from doing so here.[/size]
Here's a link to how to post a topic with images in our community https://coinauctionshelp.com/welcome-to ... community/
___________________________________________________________________________________________________________
You also agree to follow these guidelines. You must agree to these rules to be a member of this forum. NO SPAM! Spam is deleted within minutes, no spam will ever be left in our community.
1. Post a front and back image of your coin with a specific question about what you’re seeing or asking about and one coin per topic.
2. Please remove coin from the holder unless it’s US or an official mint case or unless it is graded by a grading service.
3. Images should be taken by a camera or cell phone camera, we ask that members don’t use images through a microscope screen.
4. Always start your own topic, please don’t ask about your coin or post your coin in someone else’s coin topic.
5. Do not send private messages about your coin unless an Admin ask you too and the same for sending emails through the board.
6. No spam. Do not post any links to your coin or other non-coin websites.
7. Always be respectful even if something makes you upset or you don’t agree with a member. You can always get a second opinion elsewhere. If you have an issue then politely ask an admin in an PM. PM’s are for issues, technical and personal, but not for coin questions (refer to number 5 on this list). Our community is not a soap box for complaining or drama, so please refrain from doing so here.[/size]
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montie1977
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Daniel
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Re: coin sales
The short answer is that the closer they pay compared to retail the less likely there would be coin dealers to buy from or sell to.
The long answer demands on many factors and no way can I cover them all, but I will do my best. It's a standard for running a business that at least 40% of profit should go back to the "house" and the house it the business or the owner. If a dealer pays 60% of retail then they get 40% in profit, on paper and they're just on the line of the average profit margin.
However, some dealers pay less than 60% of retail to make more money, but also because of the definitions of the word retail. What is retail? Is it the Red Book, Coin World Coin Values or another physical publication or online price guide? It's actually neither because a dealer must learn his own retail based on his location, customers and current collector demand. So not every dealer can pay the same, and all have to buy at a safe margin just in case precious metals fall dramatically (They've done a lot of lately).
Another aspect is dealers tend to pay more for coins graded by PCGS, NGC, ANACS and ICG, in that order, and for coins that are in choice condition. However, most coins that come through their doors in circulated silver, gold and modern coins and sets. Some dealers don't even try to buy the modern coins, even when they're graded, because it's takes longer to sell and its' their money that's tied up in the inventory, plus collectors think they're more valuable than they're. (It was also over-priced when it was sold by the mint as well).
I am taking up for any dealer that tries to rip-off people and "condition" down good coins, but even a seller should know some facts about cleaned coins, damaged and grading coins before they try and sell to any dealer.
What did you or someone try to sell to a dealer? It would help to have an example so to be more specific in answering.
The long answer demands on many factors and no way can I cover them all, but I will do my best. It's a standard for running a business that at least 40% of profit should go back to the "house" and the house it the business or the owner. If a dealer pays 60% of retail then they get 40% in profit, on paper and they're just on the line of the average profit margin.
However, some dealers pay less than 60% of retail to make more money, but also because of the definitions of the word retail. What is retail? Is it the Red Book, Coin World Coin Values or another physical publication or online price guide? It's actually neither because a dealer must learn his own retail based on his location, customers and current collector demand. So not every dealer can pay the same, and all have to buy at a safe margin just in case precious metals fall dramatically (They've done a lot of lately).
Another aspect is dealers tend to pay more for coins graded by PCGS, NGC, ANACS and ICG, in that order, and for coins that are in choice condition. However, most coins that come through their doors in circulated silver, gold and modern coins and sets. Some dealers don't even try to buy the modern coins, even when they're graded, because it's takes longer to sell and its' their money that's tied up in the inventory, plus collectors think they're more valuable than they're. (It was also over-priced when it was sold by the mint as well).
I am taking up for any dealer that tries to rip-off people and "condition" down good coins, but even a seller should know some facts about cleaned coins, damaged and grading coins before they try and sell to any dealer.
What did you or someone try to sell to a dealer? It would help to have an example so to be more specific in answering.
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