Someone wants to take a coin from your table to get another dealers opinion.

[Houston Investor]

Your set up at a show occupied with a whale for sometime who is buying a rather large, high profit per item currency deal and your in the process of keeping a tally sheet. This will make a slow show into a winner. You have already fought off another person, essentially made him leave the table twice, possibly vest pocket trader who wanted to barge in on your deal to offer you similar material (who you suspected of trying to steal your customer with this ploy).

 

Up walks a customer who wants to see a coin in another of your cases which is composed primarily of slabbed Walkers, Dollars, Commems, and Gold. It is an attractive, lustrous, clean 1923-S Monroe graded PCGS 63 - You know its 95 Wholesale Bid, cost of $100, $140 Retail and your price of $139 is firm. You quickly show him the coin and quote your price of $139. Seemingly interested in the coin, he then asks if he can take it over to another dealers table and show it to him. He has not purchased the coin.

 

What do you do? Do you let someone run around the bourse room with one of your coins without purchasing while your tied up with a customer?

 

In a future post I will tell you how I handled this - stay tuned.

[noow]

Tell him that $139 is a fair price for the coin. If he trys to bring the coin over, don't let him/her. This could be a stealing attempt. If he wants to ask the dealer what it is worth, so be it, but don't let him take (or steal) the coin.

[Hard Times]

Tough question, but the quick solution is to say yes and make sure the potential buyer does not bail. If he does, you take the capital loss in your taxes for the theft? Treating one customer badly in front of a big ticket buyer may cause a negative impression and could cost you a sale with that big ticketer..... Just speculating, but treating all customers with respect is a win in the end and you would need to find some solution on the fly that would do exactly that.

[Hard Times]

You could also point out that you are busy with another customer and ask him to come back in a while when you are free and you can fully serve him. May upset him, but you show respect, courtesy, and honesty that way.

[Houston Investor]

I told him "I don't allow my inventory to leave my table unless its been bought."

 

This is my show policy on this and very rarely had this happen but this is one of those things about what I expect and non negotiable. That he would pull this while I was right in the middle of a big deal was even more unusual.

 

Awhile later, after the currency deal had been successfully concluded, the guy came back with his dealer friend a guy I had run away from my table earlier who wanted to sit there and inconsiderably (uninterested in my material) block my cases while making a cell phone call. I also remembered him from a prior show going around looking at a coin and asking his stupid, CheapA "what is your price between bid and ask." I had simply ignored this (when he came to my table and inquired) and quoted my price and then he had the gall to say "thats too much" to which I replied "well go find one." I was not angry, you get this kind of BS from show participants all the time in one form or another. Its simply part of the show arena.

 

They looked at the coin and I again quoted my price of $139. The dealer asked "Is that bid?" I firmly told him "I said the coin is $139, if you need to go back to your table and do some research, take your time." They never came back which was no surprise. Obviously he was out to use my inventory to make a commission from his customer. Not gonna happen. A couple of weeks later I sold the coin to an online customer at my asking price. While I think any classic commems that are nice are a steal in the $100-$200 range, obviously that was not enough of a steal for the dealer.

 

 

[$ilverHawk]

You say no problem. Give me $139.00 and you can take to who ever you want to. You have 1 hour. Come back to me within an hour and let me know if you want to finalize the deal. If you don't return within an hour that means you own the coin.

 

Carl

[noow]

Nice one there! Getting it wrapped up quick and easy

[Walkerfan]

Since he may not want to front the cash immediately, just be honest and courteously tell him--- "I'm sorry, but we just met and I don't really know you. For security reasons, I can't let you just walk off with this coin. BUT I'd be more than happy to show another dealer this coin, if he'd like to come over and look at it for you." I would have no trouble and see no issue telling someone this.

[Hard Times]

I like that solution Carl - give the guy a 1 hour return option, fair to everyone.

[Houston Investor]

Carl - Would be very tempting in a situation with a really big ticket coin, close to show close, plane ticket in my vest pocktet, taxi waiting, and pack up everything and out in less than an hour .

[shirohniichan]

You say no problem. Give me $139.00 and you can take to who ever you want to. You have 1 hour. Come back to me within an hour and let me know if you want to finalize the deal. If you don't return within an hour that means you own the coin.

 

Carl

 

That sounds fair to me.

[123cents]

You say no problem. Give me $139.00 and you can take to who ever you want to. You have 1 hour. Come back to me within an hour and let me know if you want to finalize the deal. If you don't return within an hour that means you own the coin.

 

Carl

 

 

That's how I would have handled it.

[James_OldeTowne]

he then asks if he can take it over to another dealers table and show it to him. He has not purchased the coin.

 

What do you do? Do you let someone run around the bourse room with one of your coins without purchasing while your tied up with a customer?

I have very frequently done so, with customers that I know to any mild degree (at least).

 

If it's an expensive coin and I'm not all that familiar with the client, then I request that he leave his driver's license with me while he walks the coin around.

 

As for when people ask me silly questions about the price as "related to greysheet", I simply shrug and (truthfully) state that I have no idea, since I don't use a greysheet.

 

Incidentally, on an amazingly frequent basis, customers walk coins over to me from other dealers to get my opinion.... as if my opinion should count for much ! But I treat such requests with dignity and respect.

Edited to add: I also don't care one bit if a dealer has his client with him at my table and is trying to make a quick flip, and I don't even care if a dealer shows a coin or two to someone at my table, especially in those situations where I might serve as a reference. It just doesn't bother me, but I can see where it might annoy some people. In fact, one of my best friends and frequent table-partners can't stand it.

[DaveG]

I've done what James described (left my driver's license in exchange for an expensive coin).

[coinman_23885]

Your set up at a show occupied with a whale for sometime who is buying a rather large, high profit per item currency deal and your in the process of keeping a tally sheet. This will make a slow show into a winner. You have already fought off another person, essentially made him leave the table twice, possibly vest pocket trader who wanted to barge in on your deal to offer you similar material (who you suspected of trying to steal your customer with this ploy).

 

Up walks a customer who wants to see a coin in another of your cases which is composed primarily of slabbed Walkers, Dollars, Commems, and Gold. It is an attractive, lustrous, clean 1923-S Monroe graded PCGS 63 - You know its 95 Wholesale Bid, cost of $100, $140 Retail and your price of $139 is firm. You quickly show him the coin and quote your price of $139. Seemingly interested in the coin, he then asks if he can take it over to another dealers table and show it to him. He has not purchased the coin.

 

What do you do? Do you let someone run around the bourse room with one of your coins without purchasing while your tied up with a customer?

 

In a future post I will tell you how I handled this - stay tuned.

 

I would tell him no, that coin shows are too busy, and there is a reasonable shot that the coin would end up getting lost (not to mention the risk of theft, but depending on your personality, you might omit the latter).

[coinman_23885]

he then asks if he can take it over to another dealers table and show it to him. He has not purchased the coin.

 

What do you do? Do you let someone run around the bourse room with one of your coins without purchasing while your tied up with a customer?

I have very frequently done so, with customers that I know to any mild degree (at least).

 

If it's an expensive coin and I'm not all that familiar with the client, then I request that he leave his driver's license with me while he walks the coin around.

 

As for when people ask me silly questions about the price as "related to greysheet", I simply shrug and (truthfully) state that I have no idea, since I don't use a greysheet.

 

Incidentally, on an amazingly frequent basis, customers walk coins over to me from other dealers to get my opinion.... as if my opinion should count for much ! But I treat such requests with dignity and respect.

Edited to add: I also don't care one bit if a dealer has his client with him at my table and is trying to make a quick flip, and I don't even care if a dealer shows a coin or two to someone at my table, especially in those situations where I might serve as a reference. It just doesn't bother me, but I can see where it might annoy some people. In fact, one of my best friends and frequent table-partners can't stand it.

 

The caveat to this approach to me seems to be the ability to fake IDs relatively well. This is especially an issue at major shows that draw visitors from across the country. I have no clue what a California or Maryland driver's license looks like, and I could not determine the veracity of any license presented to me. This sounds risky to me.

 

Why not simply allow the purchaser to buy the coin and offer a 1-2 hour return privilege like the others have suggested?

[physics-fan3.14]

I agree with the people that would require some sort of collateral. Either a coin or cash or something - so you know he won't steal it. I would have absolutely no problem giving a dealer the money for a coin, for the privilege of getting second opinions on it. The understanding would be, of course, that there would be a return privilege if I desired it.

[MarkFeld]

With adequate references, I would (and have) let the collector take the coin to get another opinion on it. Otherwise, not.

 

And, while admittedly, I don't always do so, in such cases, I recommend that tne dealer get a signed receipt. That is in case something unexpected happens to the collector in the interim.

 

One other consideration is that it's possible that whoever provides the opinion for the collector, might be uninformed and/or predisposed to talk down the coin.

[michael]

Your set up at a show occupied with a whale for sometime who is buying a rather large, high profit per item currency deal and your in the process of keeping a tally sheet. This will make a slow show into a winner. You have already fought off another person, essentially made him leave the table twice, possibly vest pocket trader who wanted to barge in on your deal to offer you similar material (who you suspected of trying to steal your customer with this ploy).

 

Up walks a customer who wants to see a coin in another of your cases which is composed primarily of slabbed Walkers, Dollars, Commems, and Gold. It is an attractive, lustrous, clean 1923-S Monroe graded PCGS 63 - You know its 95 Wholesale Bid, cost of $100, $140 Retail and your price of $139 is firm. You quickly show him the coin and quote your price of $139. Seemingly interested in the coin, he then asks if he can take it over to another dealers table and show it to him. He has not purchased the coin.

 

What do you do? Do you let someone run around the bourse room with one of your coins without purchasing while your tied up with a customer?

 

In a future post I will tell you how I handled this - stay tuned.

 

tell him to bring the person by your table for a look-see and tell him no harm no foul

[West August-migration]

I'm not a dealer, so my situation isn't really identical. But I've never had a positive result when permitting somebody to walk one of my coins to get another opinion. Never. Not once.

[MarkFeld]

Your set up at a show occupied with a whale for sometime who is buying a rather large, high profit per item currency deal and your in the process of keeping a tally sheet. This will make a slow show into a winner. You have already fought off another person, essentially made him leave the table twice, possibly vest pocket trader who wanted to barge in on your deal to offer you similar material (who you suspected of trying to steal your customer with this ploy).

 

Up walks a customer who wants to see a coin in another of your cases which is composed primarily of slabbed Walkers, Dollars, Commems, and Gold. It is an attractive, lustrous, clean 1923-S Monroe graded PCGS 63 - You know its 95 Wholesale Bid, cost of $100, $140 Retail and your price of $139 is firm. You quickly show him the coin and quote your price of $139. Seemingly interested in the coin, he then asks if he can take it over to another dealers table and show it to him. He has not purchased the coin.

 

What do you do? Do you let someone run around the bourse room with one of your coins without purchasing while your tied up with a customer?

 

In a future post I will tell you how I handled this - stay tuned.

 

tell him to bring the person by your table for a look-see and tell him no harm no foul

 

That usually won't work, as it puts the other dealer on the spot.

[Mr.Mcknowitall]

Is a Dealer not already "on the spot", by simply dealing at the Show, with the inherent risks/rewards/foibles that can and will occur? Does a Dealer not accept the risk of being put on the spot?

 

Now, whether he/she accepts that risk with bad form and/or ill manners, or with Class, separates the acceptability of the encounter, as seen thru the Dealers' or the Collectors' eyes.

 

In the scenario related, I think it was an acceptable encounter for the Dealer-he did not take an unacceptable risk with a stranger (remember what Mom always told us ) and the Collector/requester viewed it as an unacceptable encounter, and probably didn't even consider the bad form exhibited by the Collector.

 

Then again, the whole thing could have been a tag team set up to take advantage of the Dealer, given the circumstances....

 

Respectfully,

John Curlis

[WoodenJefferson]

Reach into your vest and pull out a .44 Magnum and point it right between his eyes and ask him if he feels lucky? Well do ya?

 

No wait a minute, to much drama and you might get ejected from the brouse floor for doing that. Each scenario has it's own way of being handled, the first thing you need to do is politely excuse yourself from the actual buyer, they will undoubtedly make eye contact with you and you will both agree that the person who barged in is going to be nothing but a pest. Your customer will understand this and give you the time to resolve this issue expediently so you can return to the task at hand.

 

Lots of good ways to handle this situation have already been mentioned here so I will not offer up any other advice accept to say:

 

Your full attention needs to be on the current buyer, make him feel that way and close the deal.

[MarkFeld]

Is a Dealer not already "on the spot", by simply dealing at the Show, with the inherent risks/rewards/foibles that can and will occur? Does a Dealer not accept the risk of being put on the spot?

 

Now, whether he/she accepts that risk with bad form and/or ill manners, or with Class, separates the acceptability of the encounter, as seen thru the Dealers' or the Collectors' eyes.

 

In the scenario related, I think it was an acceptable encounter for the Dealer-he did not take an unacceptable risk with a stranger (remember what Mom always told us ) and the Collector/requester viewed it as an unacceptable encounter, and probably didn't even consider the bad form exhibited by the Collector.

 

Then again, the whole thing could have been a tag team set up to take advantage of the Dealer, given the circumstances....

 

Respectfully,

John Curlis

 

John, I don't think that being put on the spot, by giving an opinion of another dealer's coin, in front of him, is part of the normal course of business at a coin show. The dealer providing the opinion can do so honestly and with class, yet still end up making an enemy of the coin's owner.

[Mr.Mcknowitall]

It is clear to me that we do not attend the same Shows......unfortunately.

.

The scenario of being put on the spot is sometimes unavoidable-a Dealer's preferred customer asks the Dealer to please accompany him to look at a coin and give his opinion. The Dealer is in foible territory-refuse, however politely, and he may lose the customer. On the other hand, he really doesn't know the other Dealer, hasn't seen him around.....and we are off to the weapons challenge.

 

 

It is not so much the coins' owner/seller, as it is the the coins' potential buyer, that is the scenario that has to be addressed.

 

This all started with whether or not to take an unacceptable risk with a stranger.

It is most likely that the stranger is already offended by the turn-down and turns to the supportive Dealer that views him as a preferred customer... My Daddy can beat your Daddy.

 

The collector did not miss a beat, and did not take the time to consider his bad form to BOTH Dealers AND the other customer. It is not always the Dealer's fault, has been my observation.

 

This is almost a John Nash equation.....

 

Respectfully,

John Curlis

[BillJones]

When I was a dealer I'd let a customer take the coin to another dealer for an opinion IF I KNEW the customer well. Otherwise I used to do what James has done; I asked him to leave his driver's license.

 

Most of the time I've found that when you ask one dealer to pass judgement on another dealer's coin, the response is almost always negative. Why should another dealer help you sell your material? I often voiced that opinion to the collector before he went out on his search for advice.

 

When I was in the opposite position and was asked to pass judgement on another dealer's coin, I tried to give an honest opinon. I would say weather or not I agreed with the grade and if the coin was nice for the grade, but I would make no comments about prices UNLESS it appeared to me that a dealer was trying to take advantage of a novice collector.

 

There are two no win situations in which I would not allow the person to take the coin. One was if he was going to go to the dealer who was right next door to me. That put the dealer in an unfair position of having to pass judgment in my presence. I also would not express an opinion if the collector took coin from the dealer next to me because that placed me in a now win situation.

 

The other situation is with vest pocket dealers who take your stuff to “have it inspected” and then run all over the floor trying to sell it at a profit. One guy took one of my coins for four hours before he brought it back. During that time I lost the opportunity to sell it. The next time he asked to take something, I told him to go pound salt, but not in those words.

[Walkerfan]

When I was a dealer I'd let a customer take the coin to another dealer for an opinion IF I KNEW the customer well. Otherwise I used to do what James has done; I asked him to leave his driver's license.

 

Most of the time I've found that when you ask one dealer to pass judgement on another dealer's coin, the response is almost always negative. Why should another dealer help you sell your material? I often voiced that opinion to the collector before he went out on his search for advice.

 

When I was in the opposite position and was asked to pass judgement on another dealer's coin, I tried to give an honest opinon. I would say weather or not I agreed with the grade and if the coin was nice for the grade, but I would make no comments about prices UNLESS it appeared to me that a dealer was trying to take advantage of a novice collector.

 

There are two no win situations in which I would not allow the person to take the coin. One was if he was going to go to the dealer who was right next door to me. That put the dealer in an unfair position of having to pass judgment in my presence. I also would not express an opinion if the collector took coin from the dealer next to me because that placed me in a now win situation.

 

The other situation is with vest pocket dealers who take your stuff to “have it inspected” and then run all over the floor trying to sell it at a profit. One guy took one of my coins for four hours before he brought it back. During that time I lost the opportunity to sell it. The next time he asked to take something, I told him to go pound salt, but not in those words.

 

Good points, Bill; I agree with them. Taking my coin for 4 HOURS would have angered me, too! He was, obviously, taking advantage of his priviledge and likely trying to sell, as you said. It's always good to hear these different, interesting, first hand experiences.

[DirtyGoldMan]

Twice I have walked a coin to another deal, for advice about the coin.

 

In one case, the coin just did not look right to me, and a more experienced dealer showed that the PCGS-graded Dahlonega gold coin was recolored. I am not sure that I would recognize it again if I saw it.

 

In the other case, I showed a raw seated coin to James (about 5 years ago), and I ended up buying it.

 

Saying no to someone who asks to do so likely kills any chance that he will buy it, but that's certainly the seller's prerogative.

[michael]

Your set up at a show occupied with a whale for sometime who is buying a rather large, high profit per item currency deal and your in the process of keeping a tally sheet. This will make a slow show into a winner. You have already fought off another person, essentially made him leave the table twice, possibly vest pocket trader who wanted to barge in on your deal to offer you similar material (who you suspected of trying to steal your customer with this ploy).

 

Up walks a customer who wants to see a coin in another of your cases which is composed primarily of slabbed Walkers, Dollars, Commems, and Gold. It is an attractive, lustrous, clean 1923-S Monroe graded PCGS 63 - You know its 95 Wholesale Bid, cost of $100, $140 Retail and your price of $139 is firm. You quickly show him the coin and quote your price of $139. Seemingly interested in the coin, he then asks if he can take it over to another dealers table and show it to him. He has not purchased the coin.

 

What do you do? Do you let someone run around the bourse room with one of your coins without purchasing while your tied up with a customer?

 

In a future post I will tell you how I handled this - stay tuned.

 

tell him to bring the person by your table for a look-see and tell him no harm no foul

 

That usually won't work, as it puts the other dealer on the spot.

 

then in a nutshell this solves the problem (thumbs u

[MarkFeld]

Your set up at a show occupied with a whale for sometime who is buying a rather large, high profit per item currency deal and your in the process of keeping a tally sheet. This will make a slow show into a winner. You have already fought off another person, essentially made him leave the table twice, possibly vest pocket trader who wanted to barge in on your deal to offer you similar material (who you suspected of trying to steal your customer with this ploy).

 

Up walks a customer who wants to see a coin in another of your cases which is composed primarily of slabbed Walkers, Dollars, Commems, and Gold. It is an attractive, lustrous, clean 1923-S Monroe graded PCGS 63 - You know its 95 Wholesale Bid, cost of $100, $140 Retail and your price of $139 is firm. You quickly show him the coin and quote your price of $139. Seemingly interested in the coin, he then asks if he can take it over to another dealers table and show it to him. He has not purchased the coin.

 

What do you do? Do you let someone run around the bourse room with one of your coins without purchasing while your tied up with a customer?

 

In a future post I will tell you how I handled this - stay tuned.

 

tell him to bring the person by your table for a look-see and tell him no harm no foul

 

That usually won't work, as it puts the other dealer on the spot.

 

then in a nutshell this solves the problem (thumbs u

 

No, it solves nothing.