Local Dealer: Kool-Aid Drinker

[MunkyMan95]

As I stated in another thread, I went to the local B&M shop today. I was in there to talk about the falling silver price, and to browse. An Middle Eastern man came in, apparently friendly with the shop owner. One of the owner's partners took the Middle Eastern man into the back and showed him a coin. Then it hit me. I know that Middle Eastern man! He's a coin dealer as well. I've bought from him before!

 

Anyways, the owner's partner shows him the coin, and he remarks

 

"Wow! What it would be worth if it was PCGS."

 

The coin was a NGC graded MS68 morgan dollar.

 

I had no idea the dealers subscribed to the game of the plastic. I'll just stick to my raw coins for now.

 

[MikeInFL]

I'm not sure how you go from overhearing "Wow! What it would be worth if it was PCGS" to suggesting that the dealers subscribe to "the game of plastic" or are "Kool-Aid Drinker(s)". All that says to me is that they think some of their clients and/or the market might. Is there something I missed?..Mike

[MunkyMan95]

I'm not sure how you go from overhearing "Wow! What it would be worth if it was PCGS" to suggesting that the dealers subscribe to "the game of plastic" or are "Kool-Aid Drinker(s)". All that says to me is that they think some of their clients and/or the market might. Is there something I missed?..Mike

 

The Middle Eastern man was considering buying the coin himself. Don't know if that clears anything up.

[James_OldeTowne]

I love to tell Kool Aid dealers that I prefer coins in NGC holders. The look of stuttering, stupefied incomprehension can be priceless !

[rrantique]

[MikeInFL]

I'm not sure how you go from overhearing "Wow! What it would be worth if it was PCGS" to suggesting that the dealers subscribe to "the game of plastic" or are "Kool-Aid Drinker(s)". All that says to me is that they think some of their clients and/or the market might. Is there something I missed?..Mike

 

The Middle Eastern man was considering buying the coin himself. Don't know if that clears anything up.

 

Chad, Even with the new info, I stand by my original assessment. I just don't see how you reached that conclusion from the information provided....Mike

[TomB]

To me this reads as though the dealer was acknowledging market realities rather than drinking something.

[chinook]

I must concur with TomB.

 

When a customer wants a blue suit, you sell him a blue suit.

[michael]

as long as the suit is not in an ms68 holder

 

break the morgan and suit out of the ms68 holder and you will have a coin worth mucho less in demand and $$$$$$$$$$$$$$$$$$$$$$$$$$

 

 

 

 

[Houston Investor]

Dealers play the plastic game all the time. Its not uncommon to hear remarking at a show "nice coin but its in the wrong holder." Usually this is mainly for commercial reasons or the fact the holder that they consider the "right holder" is the TPG they are set up to submit to.

 

Whats even worse is the insufficiently_thoughtful_person running around with a blue sheet expecting to buy at those prices. If you encounter this fellow, simply ask him if he has anything to sell you at those prices!

[BillJones]

As I stated in another thread, I went to the local B&M shop today. I was in there to talk about the falling silver price, and to browse. An Middle Eastern man came in, apparently friendly with the shop owner. One of the owner's partners took the Middle Eastern man into the back and showed him a coin. Then it hit me. I know that Middle Eastern man! He's a coin dealer as well. I've bought from him before!

 

Anyways, the owner's partner shows him the coin, and he remarks

 

"Wow! What it would be worth if it was PCGS."

 

The coin was a NGC graded MS68 morgan dollar.

 

I had no idea the dealers subscribed to the game of the plastic. I'll just stick to my raw coins for now.

 

Most dealers, at least those who know how to grade coins, are not PCGS Kool Aid drinkers. Some dealers, however, take advantage of PCGS Kool Aid drinkers by charging them more for their favorite product. Crossing over some coins, even in the same grade can generate some serious profits from Kool Aid drinkers.

[CAP Freak]

Tang > Kool-Aid