Local coin shows redux

Beanie

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Mar 13, 2011, 12:32:39 PM3/13/11

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Went this morning to a nearby coin and stamp show which is held 2x a month.
All the usual suspects were there, mostly overweight, middle-aged white guys
with varying degrees of personal hygiene.
I know they expect to negotiate the prices but it's difficult to negotiate with
anyone who initially prices their coins at way over gray sheet ask.
Saw a Franklin $1 commemorative is a NGC MS69 slab and asked the price.
After carefully examining his gray sheet, the dealer replied "I've got to get
$40 for a certified coin".
Now I'm buying MS69 common date commem $1s at around spot (let's say $28).
I offered him $30 "Take it or leave it!", said I. He left it and will, no doubt,
still have it at next month's show.
That's just typical of the so-called dealers at this show.
Do these guys have some type of disconnect from reality, thinking they have the
only coins in the world?

oly

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Mar 13, 2011, 1:07:48 PM3/13/11

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I might have hit on the $40. Depends on how long since my last coin
"fix".

My reasoning (such as it is): Recent commemorative silver dollars are
better (scarcer) than the early ones (those before say 1994 or 1995)
and IMHO the price is not entirely based on spot. I doubt that you
could get a Franklin dollar in a decent slab on e-bay for that money
and the postage is another cost in that scenario. However, it's
something that you're always going to be able to get, so not to worry.

If the dealer has no pressing need to make a sale, he may be better
off to keep it. As you know, silver is hot.

Nice touch examining the gray sheet, as if that matters very much.

For a comparable, the 2006-S San Francisco Mint commemorative (slabbed
NGC MS-69 or NGC Proof 69) is easy to buy on e-bay at $39.95 or
occasionally available at $37.95, postpaid (that helps make the sale,
as far as I am concerned). Available cheaper unslabbed, of course.

No doubt someone can easily find a lower price, but the dealer who
sold me mine is very reliable and a quick shipper, both factors that
are valuable in doing mail purchases.

oly

Beanie

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Mar 13, 2011, 6:24:12 PM3/13/11

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"oly" <oly...@aol.com> wrote in message
news:8b4e2486-0782-4ed7...@f15g2000pro.googlegroups.com...

>Nice touch examining the gray sheet, as if that matters very much.

Yeah, I got a chuckle out of that.
As for the show, there was a lot of milling about but I didn't see much buying
going on.

oly

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Mar 13, 2011, 8:17:16 PM3/13/11

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On Mar 13, 5:24 pm, "Beanie" <b...@ea.ne> wrote:
> "oly" <oly2...@aol.com> wrote in message

People are trying to decide if silver is really permanently at a new
higher level, or is this just a blip???

It doesn't help business.

Gasoline prices at $3.50+ are also a negative, hitting lots of folks'
discretionary income hard.

oly

Frank Galikanokus

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Mar 15, 2011, 10:03:56 AM3/15/11

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Maybe your negotiating style needs some work?

JAM

Beanie

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Mar 15, 2011, 10:07:35 AM3/15/11

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"Frank Galikanokus" <FrankGal...@nospam.net> wrote in message
news:4D7F71CC...@nospam.net...

Perhaps but said dealer didn't even attempt to make a counter-offer.
At any rate, $30 was more than fair for the coin in question.
BTW - you sign your posts "JAM", what does "JAM" stand for anyways?

Frank Galikanokus

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Mar 15, 2011, 5:40:47 PM3/15/11

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I have used many aliases over the years.

JAM indicates that It's me.

http://www.google.com/search?hl=en&source=hp&q="Frank+Galikanokus"

JAM