A collector/dealer lesson learned...fortunately not the hard way.....

[Nutmeg Coin]

Although I think that the price paid was all the money and then some for a dealer to dealer transaction, one thing you need to remember is that the Gray Sheet prices for half cents and large cents are way too low. Nice coins bring far higher prices than those listed on the Gray Sheet.

 

This has been my experience as well.

 

Quite hard to find nice ones near GS; plus you have the old grading standards on these which is more conservative than at present. I bought a raw 1824 large cent that I thought was all there as an XF, and could do better possibly, it graded XF45, would not CAC, I think I lost $100 on it. Most of the coins like that have no returns, there are many dealers who offer no returns so you must be careful, especially at shows. I offer full, reasonable, returns; I like what Jim Fehr once said, that he never keeps a coin he doesn't like, but the sight seen rule at shows is different than mail order. Every mistake we make should make us 2X more careful, but unless you take chances you will never gain an advantage.

[BillJones]

Although I think that the price paid was all the money and then some for a dealer to dealer transaction, one thing you need to remember is that the Gray Sheet prices for half cents and large cents are way too low. Nice coins bring far higher prices than those listed on the Gray Sheet. I don't know who sets the early and middle date copper prices on the Gray Sheet, but whoever they are their numbers are detached from reality. If I could buy nice large cents and half cents from Gray Sheet money, I might come out of retirement.

 

I recently paid $780 for a fairly nice PCGS MS64BN example of the same date.

 

Gray Sheet bid for the 1838 large cent in MS-64, Brown is $575. $780 is almost 36% percent above the Gray Sheet bid price. Here is an example that proves my point.

[Crohnos01]

Thanks for sharing all of this information Shane. I have wondered if it is bad form to ask to see the grey sheet pricing when looking to buy a coin at my local B&M shop. Its also kind of reassuring to know even those of you who make a living in coins drop the ball once in a while....it makes me think you are...what's the word? Oh yeah...human.

[MarkFeld]

Although I think that the price paid was all the money and then some for a dealer to dealer transaction, one thing you need to remember is that the Gray Sheet prices for half cents and large cents are way too low. Nice coins bring far higher prices than those listed on the Gray Sheet. I don't know who sets the early and middle date copper prices on the Gray Sheet, but whoever they are their numbers are detached from reality. If I could buy nice large cents and half cents from Gray Sheet money, I might come out of retirement.

 

I recently paid $780 for a fairly nice PCGS MS64BN example of the same date.

 

Gray Sheet bid for the 1838 large cent in MS-64, Brown is $575. $780 is almost 36% percent above the Gray Sheet bid price. Here is an example that proves my point.

 

Agreed. But Shane paid $1500, which was far too much, even considering that such coins typically bring over CDN bid.

[kryptonitecomics]

Shane- Did you think Greg owned the coin?

 

 

No it was a joke...I am sure Greg got it, just a bit of fun

[jom]

Shane- Did you think Greg owned the coin?

 

 

No it was a joke...I am sure Greg got it, just a bit of fun

 

If the coin in question had been a proof I don't think it would have been a joke.

 

jom

[mommam17]

why did you say one of yours? thought he would of owned it?

[DaveG]

Wow - the guys ATS have a much tougher view of this transaction.

 

I'm glad you had a more favorable outcome.

[kryptonitecomics]

why did you say one of yours? thought he would of owned it?

 

 

Let's just say Greg knows his way around blue copper

[mommam17]

WOW!!

[kryptonitecomics]

Wow - the guys ATS have a much tougher view of this transaction.

 

I'm glad you had a more favorable outcome.

 

I read the thread over there...any collector or dealer who thinks I did anything wrong by getting a voluntary refund from the dealer I have known for 16 years is simply talking out their butts. Had I gone back to the dealer and raised a stink to try to force a refund then I would have been 100% in the wrong. A phone call to discuss a a seemingly high price should not warrant those kind of comments but I can't say I am surprised as only partial information was shared and many making comments don't know the full story.

 

I assure you I won't lose any sleep over it....

 

 

[MarkFeld]

Wow - the guys ATS have a much tougher view of this transaction.

 

I'm glad you had a more favorable outcome.

 

I read the thread over there...any collector or dealer who thinks I did anything wrong by getting a voluntary refund from the dealer I have known for 16 years is simply talking out their butts. Had I gone back to the dealer and raised a stink to try to force a refund then I would have been 100% in the wrong. A phone call to discuss a a seemingly high price should not warrant those kind of comments but I can't say I am surprised as only partial information was shared and many making comments don't know the full story.

 

I assure you I won't lose any sleep over it....

 

 

Shane, I think the particulars of the other thread are presented differently, differently enough to understandably garner different reactions.

 

Whether that thread was started because of this one, I don't know. But if it was, I think the presenter's slant was biased.

[jimjum12]

Wow - the guys ATS have a much tougher view of this transaction.

 

I'm glad you had a more favorable outcome.

 

I read the thread over there...any collector or dealer who thinks I did anything wrong by getting a voluntary refund from the dealer I have known for 16 years is simply talking out their butts. Had I gone back to the dealer and raised a stink to try to force a refund then I would have been 100% in the wrong. A phone call to discuss a a seemingly high price should not warrant those kind of comments but I can't say I am surprised as only partial information was shared and many making comments don't know the full story.

 

I assure you I won't lose any sleep over it....

 

 

Shane, I think the particulars of the other thread are presented differently, differently enough to understandably garner different reactions.

 

Whether that thread was started because of this one, I don't know. But if it was, I think the presenter's slant was biased.

 

.....my father used to call folks like that "magpies" and said they would be everywhere. The point here was to do our homework. Under these circumstances, any dealer worth their salt would have issued the refund. Bad transactions do not pave the road to long term success....GOD BLESS...

 

-jimbo(a friend of jesus) (thumbs u

[kryptonitecomics]

Wow - the guys ATS have a much tougher view of this transaction.

 

I'm glad you had a more favorable outcome.

 

I read the thread over there...any collector or dealer who thinks I did anything wrong by getting a voluntary refund from the dealer I have known for 16 years is simply talking out their butts. Had I gone back to the dealer and raised a stink to try to force a refund then I would have been 100% in the wrong. A phone call to discuss a a seemingly high price should not warrant those kind of comments but I can't say I am surprised as only partial information was shared and many making comments don't know the full story.

 

I assure you I won't lose any sleep over it....

 

 

Shane, I think the particulars of the other thread are presented differently, differently enough to understandably garner different reactions.

 

Whether that thread was started because of this one, I don't know. But if it was, I think the presenter's slant was biased.

 

 

I don't know either but clearly some of the comments were based on my thread and I can only assume they did not read the thread in it's entirety....I am not the kind of guy that doesn't eat his mistakes as you know based on our discussions...but any dealer in my shoes that would just take a $800 loss without at least a simple discussion with the other dealer is crazy in my opinion.

[MarkFeld]

Wow - the guys ATS have a much tougher view of this transaction.

 

I'm glad you had a more favorable outcome.

 

I read the thread over there...any collector or dealer who thinks I did anything wrong by getting a voluntary refund from the dealer I have known for 16 years is simply talking out their butts. Had I gone back to the dealer and raised a stink to try to force a refund then I would have been 100% in the wrong. A phone call to discuss a a seemingly high price should not warrant those kind of comments but I can't say I am surprised as only partial information was shared and many making comments don't know the full story.

 

I assure you I won't lose any sleep over it....

 

 

Shane, I think the particulars of the other thread are presented differently, differently enough to understandably garner different reactions.

 

Whether that thread was started because of this one, I don't know. But if it was, I think the presenter's slant was biased.

 

 

I don't know either but clearly some of the comments were based on my thread and I can only assume they did not read the thread in it's entirety....I am not the kind of guy that doesn't eat his mistakes as you know based on our discussions...but any dealer in my shoes that would just take a $800 loss without at least a simple discussion with the other dealer is crazy in my opinion.

 

I have, on extremely rare occasions, asked to cancel a transaction, sometimes with the offer of some money to do so. I have never been turned down. Likewise, when asked, I have always granted such requests.

[kryptonitecomics]

I have, on extremely rare occasions, asked to cancel a transaction, sometimes with the offer of some money to do so. I have never been turned down. Likewise, when asked, I have always granted such requests.

 

Your unwavering integrity is one of the reasons I am proud to call you my friend (thumbs u

[bochiman]

Wow - the guys ATS have a much tougher view of this transaction.

 

I'm glad you had a more favorable outcome.

 

I read the thread over there...any collector or dealer who thinks I did anything wrong by getting a voluntary refund from the dealer I have known for 16 years is simply talking out their butts. Had I gone back to the dealer and raised a stink to try to force a refund then I would have been 100% in the wrong. A phone call to discuss a a seemingly high price should not warrant those kind of comments but I can't say I am surprised as only partial information was shared and many making comments don't know the full story.

 

I assure you I won't lose any sleep over it....

 

 

Shane, I think the particulars of the other thread are presented differently, differently enough to understandably garner different reactions.

 

Whether that thread was started because of this one, I don't know. But if it was, I think the presenter's slant was biased.

 

 

I don't know either but clearly some of the comments were based on my thread and I can only assume they did not read the thread in it's entirety....I am not the kind of guy that doesn't eat his mistakes as you know based on our discussions...but any dealer in my shoes that would just take a $800 loss without at least a simple discussion with the other dealer is crazy in my opinion.

 

 

Shane, some of them may have been based on the thread here that you started, but, like Mark, I believe it was presented differently enough that, if it was intended to mimicry your thread, that it was BS to do so. I think many folks that initially responded did so on that OP and not your thread and responded to how it was written.

 

I posted my thoughts on that over there....I think it was uncool, particularly if that person is on these boards or saw the thread before posting his thread. It was timed way to closely with just bits of info.

 

The way your issue worked out was done in a gentlemanly way and one that is better than biting the bullet and harboring a grudge which would affect you, and that dealer, and he would never know why.

[kryptonitecomics]

Ok could be...in the end it really should only matter to myself and the dealer involved....I just thought it might be helpful to others to let them know that dealers are not perfect but when you deal with reputable people often times a potential problem can be worked out.

 

Hopefully that wasn't lost on everyone here and ATS