Depending too much on a local coin dealer
Thomas N Mathberg
since 2005. I started buying junk silver and as my level of trust has
increased I went to slabbed Morgans, Walking Liberty Halves, and 2.5 Indian
Gold. I have probably spent closed to $30K over the last 3 years with him.
I have used Coinage magazine dealers in the best with mixed results. I
spend about $800 a month with him and have seen him deal with kids for $30
and other people for $10K plus. I have between 70 cents and $3100 for a
single coin. I have also sold back coins to this dealer at a profit within
8 months of buying a coin.
I am in Morris County, NJ. I've read Scott Travers book. I am just
wondering if i am making a mistake in dealing with just one dealer.
Tom
Bruce Remick
"Thomas N Mathberg" <Tom.Ma...@runningpage.org> wrote in message
news:4940846b$0$4907$607e...@cv.net...
Kinda late to be asking that question, but at least you don't seem to feel
like you're being taken advantage of so far over the past three years. It
always pays to comparison-shop though. At least take the opportunity to
examine what other dealers have for sale in order to get a broader
perspective. Maybe you've been getting great buys from your local dealer.
On the other hand, maybe you could have done better, both price- and
quality-wise.
Do you have a focus as far as the specific coins you buy? Are you buying
primarily as an investor or as a collector? What made you decide to sell
some of the coins you bought already? Do you have a goal, i.e. completing a
coin series, type set, assembling an estate for the grandkids, etc.? So
far it doesn't sound like you've made any mistakes that have cost you money.
But there are plenty of other options out there for both buying and selling
that will increase the selections you have to to choose from as well as
maximize your profits whenever you sell.
look@worldnet.att.net don't look
"Thomas N Mathberg" <Tom.Ma...@runningpage.org> wrote in message
news:4940846b$0$4907$607e...@cv.net...
Sounds to me like you got a winner. He actually bought coins from you that
he previously sold you at a profit for you? That's rare.My last coin dealer
wouldn't give me 50 cents on the dollar.
If you are happy with the guy,then why would want to go though the slippery
slope of finding a new honest coin dealer? That doesn't mean you have to buy
everything from him. What do you do if you want something he doesn't have?
Do you ask him to try and get it for you. That can work.
For those type of transactionns you could look at the auction houses suxch
as Stacks' in NYC or Bowers and Morena to name a couple of the more
succesful places. There are more too choose from. You can even go the Ebay
route if you plan on buying PCGS,NGC or ANACS graded coins. Buying raw coins
on Ebay is dangerous to your wallet.
Peter Irwin
>
> I am in Morris County, NJ. I've read Scott Travers book. I am just
> wondering if i am making a mistake in dealing with just one dealer.
>
you have a good one. No collector ever manages to buy everything
for the best possible price. The fact that you have sold back
coins to him at a profit is good news.
You might try visiting a coin show. That will give you a chance
to see a lot of dealers. It may teach you to value your local
dealer more.
Peter.
--
pir...@ktb.net
Thomas N Mathberg
news:yT%%k.5876$JU5....@newsfe20.iad...
I am both collecting and investing. My investements are primary MS-65 and
over 1934-1947 Walkers and MS 63-66 Morgans. I am up to 58 unique Morgans.
My collections are lincoln cents (I only need a 2008-D and 1909-S VDB),
standing liberty quarters, and nickel 3 cent pieces.
My collections are primarily F-au condition with the keys being VG-VF. I
have had some bad experiences with mail orders dealers.
Tom
Bruce Remick
Sounds like you're well along already, except for that pesky 2008-D Lincoln.
Are you buying MS coins that graded, authenticated, and encapsulated by one
of the major companies? Or are you keeping them "raw" in albums? Until you
can develop a relationship with a mail order dealer you have confidence in,
your best bet would be to attend a local or regional show. Look over their
stuff and try to get an idea how well you've been doing price and
quality-wise with your local dealer. You may have your best bet with that
dealer, if he can continue to come up with the coins you're looking for at
reasonable prices. There's eBay, too. At least take a look there for
specific coins you're interested in. Be cautious and discriminating and you
can get good buys there.
Thomas N Mathberg
The slabbed coins are either PCGS or NGC. My dealer can get most stuff.
I keep them slabbed I do no b reak them out. He is having trouble getting
some of the 3 cent nickels. I am trying to get them in VF-XF. I need 10
out of the 23 coins in the series.
Tom