Why do dealers put coins not for sale out?

[mtnstyne]

Just came back from the small local show in Columbia, SC and found 2 coins I was interested in. One was a nice end roll toner1904 morgan NGC MS64.

 

I asked the dealer how much he was asking and he said it's not for sale. I asked if it was his and it was but that he just couldn't let it go. Well why do dealers do this? Do they think it brings people to their table to put out nice coins even if they won't sell them? I know for me after that conversation I was done looking at his table and just moved on.

 

thoughts?

 

btw, if you remember the hoarder guy he was there and his table was very reminiscent of his store. I am thinking of repaying him a visit in the near future with a list to see if he can find anything I may be looking for.

[MarkFeld]

To attract attention.

 

Because they haven't had the time or inclination to put the coin somewhere else, out of sight.

 

Because until someone asks, they're not sure whether it's for sale or not.

[coinman1794]

Do you ever want to show off your coins to other people?

[coinman_23885]

I find this to be a huge turn off, especially when dealers have large supplies of attractive coins that they won't sell. I literally saw one dealer who had an entire table full of his collection. I continued to walk away; it appeared that he had saved all of the good coins for himself and was only selling mediocre coins or his "left overs."

[mtnstyne]

Do you ever want to show off your coins to other people?

 

Sure I do, I also like my truck but I don't put a for sale sign in the window to draw attention.

[coinman1794]

To make the comparison legit, you would have to be driving that truck into a car dealership, or a car show.

[ldhair]

Mark's answer "To attract attention" was my first thought.

 

He may be looking for comments about it before he prices it.

I'm sure dealers run into coins they are not sure of the value.

 

He may have told someone he would hold it for them to see.

Maybe a long time customer he wants to give first shot at it.

 

Lots of possible answers.

 

[PerryHall]

Agree with the openning post. Save the "not for sale" coins for show and tell at the local coin club meeting or at least label them as NFS so you aren't wasting people's time.

[cpm9ball]

The OP better hope that he never finds himself at Ron Sirna's table at any show. He has a beautiful collection of Morgan toners and NONE OF THEM ARE FOR SALE!

 

Besides attracting attention, there are actually people, like Ron, who are very proud of their collections and want to show them off.

 

Chris

[Kenneth F]

To attract attention.

 

Because they haven't had the time or inclination to put the coin somewhere else, out of sight.

 

Because until someone asks, they're not sure whether it's for sale or not.

 

+1

 

My friend owns a store and I cant tell you how many times I asked about something and the answer was "not for sale".. Thats what it is all about, attracting attention. In the case of my friend, he had alot of high end stuff strategically placed around the "not for sale" item. ha ha ha.

[MarkFeld]

One other possible reason, which is related to, but not quite the same as to attract attention....

 

To allow others to view neat/appealing looking coins. For various reasons, some of us enjoy looking at certain coins, even if they aren't for sale.

[Houston Investor]

The instances I have encountered this were a situation where the material was being "held" for a customer. This could be legit or perhaps the guy had just bought something and was unsure how he wanted to price it without doing some research.

 

Irregardless, this can be a turnoff to customers. Display space in my cases at a show is valuable space (in many places material is stacked) and I only want material which is for sale in there. I believe in putting away out of sight any material which may not be for sale (pending research, slabbing, repricing, etc.). I am setup at the show to buy and sell material, not have a coin museum but this is just me and what others do is their call.

 

The "not for sale material" can be tool to draw buyers or sellers to the table. I know of one dealer who used his complete slabbed $2.50 Indian as an impressive attention getter and bc he was proud of it. However, he did have it labeled "For Display Only." One one occasion he upgraded a piece by replacing it with a piece he bought at the show and then moved the original piece to the area of the case where coins were for sale.

[physics-fan3.14]

I have no problem with a dealer having coins not for sale in his case. Sometimes they are his personal collection, and he wants to show them off. I love seeing coins! Sometimes he wants to attract attention, which is perfectly fine by me - the guy has to do something to attract people to his table. He is there to sell and make a profit, after all.

 

Another thing which no one has mentioned - If a dealer has a certain type of coin in his case, he is more likely to attract people with similar coins to sell. I know if I walk past a case with Franklins in it, the dealer is sometimes more likely to buy Franklins.

[MarkFeld]

I have no problem with a dealer having coins not for sale in his case. Sometimes they are his personal collection, and he wants to show them off. I love seeing coins! Sometimes he wants to attract attention, which is perfectly fine by me - the guy has to do something to attract people to his table. He is there to sell and make a profit, after all.

 

Another thing which no one has mentioned - If a dealer has a certain type of coin in his case, he is more likely to attract people with similar coins to sell. I know if I walk past a case with Franklins in it, the dealer is sometimes more likely to buy Franklins.

 

Good point about potentially attracting sellers, and not just buyers. (thumbs u

[comicdonna]

I wouldn't have a problem with it but, would prefer they were in their own section of the table, not mixed in with the coins for sale.

[truthteller]

Years ago, a dealer named Arnie Payne specialized in the most beautiful toned coins available. He would place some outstanding coins in his case and say," they are not for sale, but if you have coins like this, I am paying crazy money." Needless to say, he bought some fabulous coins for outrageous prices. Great advertising.

 

 

 

TRUTH

[Kenneth F]

The instances I have encountered this were a situation where the material was being "held" for a customer. This could be legit or perhaps the guy had just bought something and was unsure how he wanted to price it without doing some research.

 

Irregardless, this can be a turnoff to customers. Display space in my cases at a show is valuable space (in many places material is stacked) and I only want material which is for sale in there. I believe in putting away out of sight any material which may not be for sale (pending research, slabbing, repricing, etc.). I am setup at the show to buy and sell material, not have a coin museum but this is just me and what others do is their call.

 

The "not for sale material" can be tool to draw buyers or sellers to the table. I know of one dealer who used his complete slabbed $2.50 Indian as an impressive attention getter and bc he was proud of it. However, he did have it labeled "For Display Only." One one occasion he upgraded a piece by replacing it with a piece he bought at the show and then moved the original piece to the area of the case where coins were for sale.

 

Yes.. a "For Display Only" sign is the right way of doing it. No confusion and time wasted..

[e1cnr]

Whenever I hear that, I figure they could tell by looking at me I just want to fondle it and drool on the slab and have no intention or desire to buy it as it is WAY above what I am willing to spend.

[Kenneth F]

ha ha ha..

 

Like a 1878 Proof set I seen... had the shakes and drooled all over the slabs.. ha ha ha

[BillJones]

At some shows, the EAC show, dealers show off coins in their collections for educational purposes. I used to show coins from my collection to interested customers so that they could learn what the coins looked like. It was a way to get collectors interested which often resulted in sales for me.

 

At times you might buy a coin a show and not want to show it until you have had a chance to take it home and do some research on it. There are few feelings that are worse than get "picked off" because you missed something.

[Walkerfan]

I have no problems with dealers who have these types of coins in their cases---Just as long as they are marked NOT FOR SALE. I met a guy at an ANA show, once, who had a bunch of coins like this and they were all GORGEOUS toners.....Morgans, Seated liberty coins & Barbers just to name a few. I wasn't disappointed, as I knew and he made it clear up front, so I REALLY enjoyed looking at these gems and talking with him about them.

[Oldtrader3]

I had not really thought about it for awhile but I remember B&M shops in Southern California when I first lived there 40 years ago that had kind of a display case arrangement of a few "Not for sale" coins with maybe a Capital holder set.in one central case.

 

I think that they were "show" pieces for the dealer to start a conversation about with walk in customers. I think that many of these coins were for sale, for the right price but back then, it was hard to get a premium for color. Just my $.02.

[Kenneth F]

Not only for educational purposes, but to show off what a collector "can" have one day. I feel that it also shows young folks what they can create too.

 

My Pap showed me coins when I was a youngster and it resulted in me being a rabid coin collector. Hey, show your stash.. just might get somebody in the hobby.. ha ha.. never know.

[bochiman]

Too much whining about nothing.....

 

It was for sale, just not for a normal price.

 

Next time, offer him 100-1000 times guide price....you may find it for sale really quick

[coinman_23885]

I have no problem with a dealer having coins not for sale in his case. Sometimes they are his personal collection, and he wants to show them off. I love seeing coins! Sometimes he wants to attract attention, which is perfectly fine by me - the guy has to do something to attract people to his table. He is there to sell and make a profit, after all.

 

Another thing which no one has mentioned - If a dealer has a certain type of coin in his case, he is more likely to attract people with similar coins to sell. I know if I walk past a case with Franklins in it, the dealer is sometimes more likely to buy Franklins.

 

The coins should at least be marked as such so that someone walking past does waste there time. The table I am referring to in my post was completely unmarked, and I waited for 10 minutes for assistance. A simple sign would have kept me from wasting my time.

[Conder101]

Next time, offer him 100-1000 times guide price....you may find it for sale really quick

Or you may not. Sometimes things really aren't for sale PERIOD. On the other hand if you offer 100 times the price guide and he accepts you should be willing to go through with the deal, else you are just as guilty of the same thing he was accused of, wasting someones time.

[bochiman]

Next time, offer him 100-1000 times guide price....you may find it for sale really quick

Or you may not. Sometimes things really aren't for sale PERIOD. On the other hand if you offer 100 times the price guide and he accepts you should be willing to go through with the deal, else you are just as guilty of the same thing he was accused of, wasting someones time.

 

Agreed.

 

My point is simply that if you really want a coin and it isn't for sale, then you may have to accept that or offer something way in the stratosphere.

 

For instance. I am not a dealer, but I have a few coins that are not for sale. However, if someone were to make me offers WAY above "the value", I would likely sell them as I could put that money to use.....but for their actual value price? Nope.....not for sale at anything close.

 

I do like to show them to others who can appreciate them though.

[coinman1794]

Next time, offer him 100-1000 times guide price....you may find it for sale really quick

Or you may not. Sometimes things really aren't for sale PERIOD. On the other hand if you offer 100 times the price guide and he accepts you should be willing to go through with the deal, else you are just as guilty of the same thing he was accused of, wasting someones time.

 

 

 

I do like to show them to others who can appreciate them though.

 

And that is what many dealers are guilty of, and they can find themselves in the position to show them off, a lot. And is it really a waste of time to look, as some have said? That is what we ultimately do with coins!

[RockMyAmadeus]

I would have said "Oh...I didn't realize I'd walked into the museum section of the show"...

[johnny9434]

i agree as well. to attract attention .................