Touchy Subject

I understand Drummer, I think that where we are all over the country it would be very informative of the results we get regarding the fly by night hotel dealers. It might be a waste of time too, I am sure the results will all be the same. Looks like the local Mom and Pop store was the closest even though they were still way off their total exceeded the three other dealers combined. Glad you didn't part with any of those gems.( Like I really thought you would )


Loosechange

Hi Loosechange

Yes...the "ma & pa" store was the highest of my "test" offers by far but still far too short. $12,000 for the four coins I listed in the test were worth at very minimum 25K (resale)...every coin dealer is entitled to a profit, but 50%...no way!

the drummer

This is exactly why I have bought fewer coins of late. Unless you are as well versed in a particular coin as some of you are it is very easy to get taken. While I am sure being taken is not a new art form, it seems that the underhanded seem to be coming more prevalent these days. My heart breaks when I hear an elderly lady say she took her deceased husband's collection to a "gold and silver buying" operation. It sure is scary out there!:woohoo:

Hi pmk700

You are so right...there are many horror stories about good trusting folks getting taken by the many sharks out there today, not only in numismatics but in just about everything else too.
I say again, when you find a knowledgeable, passionate, honest, fair, expert coin dealer it is something of great value...a treasure.
The good ones are out there too!

the drummer

Now I wonder, What could John Q. Public expect to get for his coin if he took it to the honest dealer to sell. Say his coin retailed for $1,000, of course the dealer needs to make a profit and would not be able to offer retail, or he wouldn't be able to stay in business. But what percentage of that thousand dollar retail price would the dealer give? Any thoughts?
-R.-