In Somewhere, USA, a nice and smart lady had some coins for sale. Of particular interest were a couple of early dollars.
She went first to the coin shop down the road and presented the dealer with one of the dollars. Being a savvy individual, the dealer asked her, “Is this a test?” She replied, “Yes. I want to see how you compare to the people on the radio who claim to be the highest buyers.”
The test coin happened to be an 1893 dollar for which he offered her $1700. She thanked him and turned to leave. With a smile in his voice, the dealer called out to her, “I’ll see you in twenty minutes.”
Turning back, she looked at him with an eyebrow raised in question. He said, “You are going to visit the coin shop up the road that claims to be the high buyer to see what they offer, right?”
“Yes, I am,” the lady said. To which the dealer responded, “Then if you are serious in selling your coins, I will see you back here. I am the highest buyer.”
A short time later, the lady returned to the first shop with her coins. The gentleman asked what his competition had offered her for the 1893 dollar.
With a frown on her face and anger in her voice, the lady replied, “They offered me $12. In addition to the 1893 dollar, I have a bust dollar for sale. They offered me $18 for it. They are not the high buyer!”
She wanted to know if he was interested in the coins and what he would pay for the bust dollar.
The dealer looked at the bust dollar and determined it was a fine specimen. He and the lady discussed options for the coins. They agreed upon the price for the 1893 dollar at his earlier offer of $1700.
For the bust dollar, the dealer is not sure if he can find an interested buyer quickly, and he does not want to offer her a lower amount because of the time he might have to hold the coin. Instead, he presented her a special deal on the bust dollar. He proposed to take the coin on consignment to find the highest buyer and split the profits with her on the coin. She agreed.
Time passes and the dealer finds an interested buyer for $4500.
What a difference a little research can make to the prices the nice – and smart – lady achieved for her coins. Both she and the coin dealer won in their sales relationship. She obtained higher prices, and he, with his fair offer, gained the business and enjoyed a profit on the coins as well.
Though not local, this happens to be a true story with a few details changed to protect the parties involved. With a little effort, you, too, can get the best prices for your coins.
Remember, coin shows offer more dealers in one place for comparison shopping.