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Coin dealer will no longer take trade-ins at near their sales price.

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For several years I have enjoyed a fair relationship with a dealer who would take trade-ins for a new purchase at somewhere between 80-90% of their sales price. Well, they will no longer do this and will trade in the coins they sold me at "fair" market price. The last offer was 85% of NGC bluesheet for some nice white coins. Unfortunately, NGC bluesheet has not changed for these coins for about 4 years and were literally three or four grade point values less than actual market value. Has this happened to anyone else?

 

 

 

TRUTH

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The dealer offered 85% bluesheet for sight seen coins at a show? That seems to be a low ball offer especially for a repeat customer. I would not sell for that. There are so many ways to sell nice coins.

 

I had a wonderfully toned 1942 NGC MS65 walker I brought with me to a local show to show it to a fellow collector. A dealer saw it and wanted to make an offer. He then pulled out a bluesheet and offered me $60. I told him he was clueless and kept the coin. There is no need to sell a great looking coin at below bluesheet.

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While not quite so bad, I had an experience with Heritage that was something like this. A few years ago I told Heritage that I would bring some coins with me to FUN for them to purchase because they have been after me for quite a while to sell them things. I brought the coins with me to the table and the Heritage rep took out a Bluesheet and quoted me prices that were within a few percent, plus or minus, of the sheet. The coins I was offering were very nice and I just stopped him short after the first few offers and said that this wasn't going to work and left. He seemed puzzled that I wasn't interested in selling attractive, high end, sight-seen coins at Bluesheet. I later spoke with Greg Rohan at Heritage and he was quite apologetic and said he would offer much stronger prices for what I had. Of course by that time I had sold the coins for well above Greysheet to other dealers in attendance.

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He seemed puzzled that I wasn't interested in selling attractive, high end, sight-seen coins at Bluesheet. I later spoke with Greg Rohan at Heritage and he was quite apologetic and said he would offer much stronger prices for what I had. Of course by that time I had sold the coins for well above Greysheet to other dealers in attendance.

 

Obviously, you were helped by one of the less experienced robots who work at Heritage. And this is not just a Heritage thing either. Many, many dealers use exactly the same methods for what I'm guessing is a lack of experience with coins or certain series. This, IMO, is one of the bigger problems with the coin market...you really have to know exactly which dealer to go with to get a good sale.

 

jom

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