Sellers Beware posted by Jay Ramsey

[CSJournals-migration]

Offered $135 for a NGC PF70UC 2008 $5 Gold Buffalo

 

That offer of $135 for a 2009 NGC PF70UC Buffalo came from a coin dealer in Fresno. He told me he'd give me the current gold price. I said, Wait this is an NGC PF70UC, and this coin is the only year a fractional Buffalo was minted. It's selling for $700-$800 dollars on EBay. His answer was if you want Ebay prices sell it there. I'd offer more for a PCGS graded coin because they grade tougher. I replied, They grade softer if you are a perferred dealer. I've seen it a a coin show where they took this dealers coin and said we can do better than this and upgraded his coin for the $100 dollar fee. Maybe it was under graded the first time. But it seemed really fishy to me. Besides NGC is the official grader for the ANA and PNG. How can you say that . He stated they are a PCGS dealer, and therefore are only serious about the PCGS PR70DC. But you have NGC and ANACS coins here as well and at top dollar, I said. He reiterated his PCGS mantra. The big issue is, don't let local dealers steal from you. What this guy was offering was nothing less than stealing and I sold the coin on Ebay for $750. I am sure hie would have paid me gold price and sold it at EBay price or more!

 

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[Texans Coins]

Good for you, standing your ground against that scum! It's people like that, that will ruin the hobby for a potential new collector.

 

Marcus

[9sec93lx-migration]

Offered $135 for a NGC PF70UC 2008 $5 Gold Buffalo

 

That offer of $135 for a 2009 NGC PF70UC Buffalo came from a coin dealer in Fresno. He told me he'd give me the current gold price. I said, Wait this is an NGC PF70UC, and this coin is the only year a fractional Buffalo was minted. It's selling for $700-$800 dollars on EBay. His answer was if you want Ebay prices sell it there. I'd offer more for a PCGS graded coin because they grade tougher. I replied, They grade softer if you are a perferred dealer. I've seen it a a coin show where they took this dealers coin and said we can do better than this and upgraded his coin for the $100 dollar fee. Maybe it was under graded the first time. But it seemed really fishy to me. Besides NGC is the official grader for the ANA and PNG. How can you say that . He stated they are a PCGS dealer, and therefore are only serious about the PCGS PR70DC. But you have NGC and ANACS coins here as well and at top dollar, I said. He reiterated his PCGS mantra. The big issue is, don't let local dealers steal from you. What this guy was offering was nothing less than stealing and I sold the coin on Ebay for $750. I am sure hie would have paid me gold price and sold it at EBay price or more!

 

See more journals by Jay Ramsey

My dealings this week with a local dealer involved silver, but I got the same treatment. When I inquired about their buy price for .999 silver bullion, I was told "All we can give you is 15 cents a gram"!!! 15 cents, thats $4.67 an ounce. When I mentioned that silver spot was over $33.00, they said "Sorry that's all we're paying".I understand they need to make a profit, but 700% please.Unbelieveable, no wonder local coin dealers are a thing of the past. It's too bad, because I used to love to browse the aisles looking at coins, always buying at least a couple before leaving. Well I won't be buying any there I can tell you.