What is a Cherry Picker?

[currentcoin]

 

 

The question came to me last week when a local dealer called me a cherry picker .

 

From what I know (which ain’t much) a Cherry Picker is someone that looks for errors or varieties that others do not know about. Like the Cherry Picker guide book has.

 

All I do is look for high grade coins which you can find in almost any shop. That probably have been looked at thousands of time by other customers. Customers looking for high grade coin themselves.

 

So you tell me what is the definition of a Cherry Picker?

 

I heard Greg (gmarguli) called a Cherry Picker also (among other things) . He is well known for finding high grade coins.

 

Glen

 

[gmarguli]

I first heard the "Cherry Picker" term when varieties were concerned. Picking rare varieties off bid boards and dealers' stocks. This was around the time the first (maybe 2nd) Cherry Picker's Guide came out. Later a dealer told me to stop Cherry Picking his high grade stuff and get out of his store.

 

I assume it means someone who picks the cream of the crop out of a bunch of stuff without regard to any area like varieties or high grade. Just picking the best.

 

 

Now, as for what people call me, I want names and specifics...

[SethChandler-migration]

Greg,

 

The dealer really told you leave?. Do you ever purchase a "leader" coin when you walk into a fresh store.

 

Seth

[gmarguli]

Yep, he told me to leave. It's stupid since the dealers that let me look thru stuff get a good customer. I will buy a lot of stuff and I won't usually haggle on price since the stuff I'm buying has large profit margins.

 

Some dealers are nicer about it and ask that you not cherry pick them or at the very least they tell you that they're going to charge you "retail" prices if you're going to take the nicest stuff. That's much better - especially when they charge retail of $10 for a modern coin and you slab and sell it for $300.

 

The best are the dealers that don't care and let you look thru everything. There aren't too many of those.

 

I don't usually buy leader coins, but at the same time I won't usually try to cherry pick a lot of their inventory the first time. Let them get to know me first before asking to go thru all their stuff. However, if they show me a lot of stuff, perhaps a fresh box of proof sets, if I am interested in 70% of them I'll take the entire lot just to get a good price and let the dealer know that I will take some of the bad along with the good off their hands. They can be much nicer to you if they know they won't be stuck with the junk.

 

[TJ]

This makes zero since to me. A dealer has a coin with a price tag on it yet he doesn't want you to buy it?

[gmarguli]

Yep. One dealer, the one that kicked me out, didn't want me to pick his best stuff because all he would be left with would be junk. That's what he said. I asked why he didn't price his nice stuff higher than his junk and he became a big SOB. The guy has a major attitude problem. In front of customers he berates his son who has a mental disability. The son is really nice, but the father is a SOB. I won't even mention how he treats customers than don't know what they are selling.

 

Other dealers just don't want to admit that some collectors know more than them. If someone can cherry pick nice coins then that means the dealer knows less than the customer and ego won't allow that.

 

[TJ]

One dealer, the one that kicked me out, didn't want me to pick his best stuff because all he would be left with would be junk. That's what he said.

Yet in the mean time he would have sold all his best stuff presumably at his price and he would be happy, yes? I know I am stupid, but if someone came in to my shop and wanted to buy only my best stuff at my prices more or less, could I complain? No, I think not. I would probably go home and do a Jimmy Stewart after he realized it was all a dream in This Wonderful Life.

[gmarguli]

Yep, he is just stupid. Worst thing is that he said this on the second day I was in his shop. I had spent several hundred the day before and had several hundred in coins already picked out. Had he not said anything he probably would have sold me a couple thousand dollars worth of stuff.

 

His prices are also REALLY high so it's not like his stuff is flying out the door.

 

One of my favorite things he said to me was when I was looking at Jefferson nickels. He said "Are you looking for the full step ones? There aren't any in there. We took them out." When I replied that I was just looking for the nicest one of a certain date he said "I don't want you doing that. They are all the same. I've put the grades on the 2x2's".

[TJ]

When I replied that I was just looking for the nicest one of a certain date he said "I don't want you doing that. They are all the same. I've put the grades on the 2x2's".

You see, I just don't understand why he would say "I don't want you doing that."

 

I just dont get it. Don't waste any more time on me. Others will relate better.

[Leothelion]

I've come across such dealers. What do they think I'm doing? Filling a peg board? I'll carry 3-4 coins with me to put them in their place, so they can owe me an apology. Recently a dealer asked me why I wanted to see his certified nickels from his case. I said that I'd like to see the reverse sides. The dealer snapped back, they're graded MS65 and not full steps. I asked him if he believed every certified coin is graded accurately. That shut him up and went on to say to him that I look at the location of the marks, why a coin received a certain grade, that I'm seaching for EDS strikes and so on.

As for cherrypicking coins, that's what I thought, errors and varieties. But that has changed since the advent of the hype with grading companies. Money can be made if you can grade and haggle better then the dealer. Dealers can't know everything about every series. Some do but they are few.

 

Leo

 

 

[GDJMSP]

I've even had dealers at shows outright refuse to allow me to look at their Mint & Proof sets How can they expect to sell something they won't let you even look at ??

 

In a shop - not much better. I have to ask for a specific coin or set - I am then handed 1. I look at it - if it is acceptable I buy it. If not - I hand it back and ask if they have another. This happens even in the shops where I am a regular customer. I find it sad.

[currentcoin]

Greg

 

I see that you and I know the the very same dealers.

The answers are the exact same answers I get.

 

So now we are Cherry Pickers!

 

Well call me what they will, I know what I'm doing.

 

Glen

[kranky]

I agree that when dealers give you the boot, it's an ego thing. They can't stand the possibility that you might be able to make out on the deal when the dealer is "the professional".

 

It is indeed completely nonsensical for someone to refuse to sell goods at marked prices, but it's ego triumphing over common sense.

[Leothelion]

I've even had dealers at shows outright refuse to allow me to look at their Mint & Proof sets How can they expect to sell something they won't let you even look at ??

 

In a shop - not much better. I have to ask for a specific coin or set - I am then handed 1. I look at it - if it is acceptable I buy it. If not - I hand it back and ask if they have another. This happens even in the shops where I am a regular customer. I find it sad.

 

There are two places like that locally, they have nothing on display so they'd asked what I'm looking for. I'd tell them and they leave the room and come back with a couple of crappy coins and so I'd ask them if they have others and they say yes.

They'd looked like I was inconvieniecing him so I'd haft to ask if I can see them also and again they'd return with some more crappy coins. By that time, I could care less and leave. Then I'd see these guys at the local coin shows and they'd have nothing but [!@#%^&^] on display. Nothing but common, dull looking coins, the kind of display that take two seconds to gleam over.

 

Leo