Is This How Coin Dealers Rip People Off? Coin Dealer Gray Area

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Title	:	Is This How Coin Dealers Rip People Off? Coin Dealer Gray Area
Lasting	:	11.29
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Are Coin Dealers Crooks? youtube/04XfDWg_4qE brHow To Become A Coin Dealer youtube/Up7HTHkl96w brHow To Sell Your Coin Collection? youtube/deHp7xcW_2U brBuy Coins From Us portsmouthcoinshopcom/ brCoinHelpu Community br coinauctionshelpcom/forum/
Comment from : CoinHELPu

What if you send it and it grades lower? Is he going to come in and pay you the difference? NO !!!! He won't Your conscience is clean
Comment from : Gary Bowker

You and he made the deal It's done Your good luck
Comment from : Gary Bowker

Please buy my old coin dollar,,,,
Comment from : Tekken jhunz

I have more coins,,but,,how to sell it,,, I'm here in Philippines,,, dollars coins,, I have more
Comment from : Tekken jhunz

I'm a new workin guy stuck where can I start to buy coins here and there what's a good machine to make sure they're real
Comment from : Fernando lazaro

Aside from the risk, if the seller and you AGREE on a price, a contract is made and the deal is concluded If you KNOW who you bought a windfall from, and you choose to pay him a bonus, that is between you and your conscience
Comment from : Andy Busard

YES I would go back and pay someone more! --> WHY??? because its the right thing to do I know other dealers who would too, because I have seen them do it Those are the types of dealers I go to, and deal with They don't sit around and make excuses like you They treat people right and they do the right thing It's actually a pretty easy thing to do
Comment from : rafeer896

How much is a 1909 penny worth?
Comment from : Tinker Brethauer

Thanks Daniel Honor and integrity is important with your LCS eBay not so much
Comment from : Yotefan

Su su sweet g hy in pass coin old seel you natural coins plz help you please Shi sar
Comment from : Asif Khan

Ungraded coins, I have no issue with, get what you can for both dealer and customer brbrPCGS and NGC graded coins, Customer sells to dealer 10 below grey sheet, Customer buys from dealer at 10 above grey sheet Dealers make 20 on each round-trip transaction, should be enough to stay in business and make a good living assuming decent volume Customer does not get ripped off Dealers could form a coalition accepting this business rule and customers would know what their graded coins would sell for at a given date
Comment from : Bill bland

Hello I need you help with some coins
Comment from : Huerta Susan

I would like to thank you for all your hard work and knowledge I had a medical scan in Nashville I have a mint 64 accented hair kennedy half I stopped in Brentwood TN @ a coin dealer they offered me $1000 I have many more mint coins Since I have a medical condition I have pulled out some of of coins I have not looked @ in a long timebrI know nothing about coins but I have learned a lot from you and your channel Keep posting these great videos! When I get ready to sell my collections I will make the trip to see you Thanks Jef Davis
Comment from : jef davis

I need help selling my coin and dollar bill collection I have miss prints and bunches of wheat pennies old ones two dollar bill miss print
Comment from : Denray Cason

Grading is subjectivebrbrSo an upgraded coin is worth whatever a buyer or dealer is willing to pay for it brbrBecause value is also subjective There are Morgan dollars worth thousands of dollars that I personally wouldn't buy even if I have the money and there are other buyers willing to pay it But i will definitely pay up for a nice red wheat penny, even a key date if I can get my hands on it brbrIf you buy an upgraded coin from someone who thinks it's worth more and they think they are getting ripped off, you as the buyer are under no obligation to owe them extra if a3br 3rd party grader gives it a higher grade than you thought That's because you assumed the risk not the guy who is judging you that sold it for less If he wants more for his coin he should assume the risk and get it graded
Comment from : WO Cassity

Hello, I'm having a hard time finding your help page Would you be kind enough to send me some direction
Comment from : Mark

Buyer Beware, Due Diligence, Everyman For Himself etc
Comment from : Ra Cay

Never call anyone about giving them more money brI’m sure they wouldn’t offer you more money if was worth less
Comment from : Jack Nasty

I expect to win and for you to win also Everybody happy Just sayin
Comment from : Dixie Brick

Any object has only a value one is willing enough to pay! Having two of the exact same thing's that exist in the world, make them extremely valuable Destroying one of them makes the other remaining one even more valuable
Comment from : Wm G Thilgen Jr

Why would you send a coin that has already been graded to be graded again?brWhat if it comes back with a different grade? Which one is correctbrIf it comes back re-graded and re-packaged at a lower grade, haven't you just lost money on it? You can't re-seal it in the old packaging, can you?
Comment from : munsters2

That's not ripping anyone off They agreed to sell it for a price You took a risk on it and have overhead
Comment from : Dan

Morally, it may seem sketchy or dirty, but as a business, you assume the risk If you bought a very nice looking coin that you assumed would be worth $300, and you send it off and it gets graded poorly for whatever reason, you aren’t going to call the seller and ask for money back It goes both ways You offer a service for people to get quick cash for their coins, if they want top dollar for their coins, they need to do the work to get top dollar
Comment from : Mouthwash

Resale is essentially gambling, not just coins If you offer me a widget that retails for $1,000 its entirely possible that I won't be able to sell it for more than $300 used I'm making my offer based on the latter number instead of the former
Comment from : Name

Expert: it's worth $5000brRick Harrison: I can pay you $50
Comment from : Adamirishconundrum

Coin dealers try to "nickel and dime" everyone
Comment from : Dale Moore

if I sell a item, and later find out they sold it for more money, Great for them, I knew what I accepted when I sold it, and so should not be complaining later, if the price is too low, Don"t sell It Great Video
Comment from : Jim Crain

you talksed to long
Comment from : Robert Przybylowicz, Jr

I never heard of such nonsense Once you buy it at a fair price and part something out of it and get a terrific price you OWE nothing to anyone You are a recycler of coins Geeesh you know that
Comment from : 1911 Earthling

I saw a seller on eBay who sells hundreds of coins However, I'd say his camera equipment is mediocre if not poor So, you can't be too sure about any one of his coins I think there is a reason he hasn't spent a few hundred bucks for a used Nikon body and a 55mm f28 ais lens If he did, viewers would entertain less thoughts of making a profit themselves
Comment from : Ozzy Houston

I understand your dilemma br No one was forced to make a deal So good for you if you come out ahead
Comment from : Thomas Jensen

Your using a pcgs price guide on an NGC graded coin, NGC tends to be a little more lax on their grades than PCGS Just my experience
Comment from : Larre Riffe

I do not know
Comment from : Chris Clarke

I'm sure it's a lot like running a pawn-shop, people get ripped off all the time
Comment from : Skank or You Can Call Me Maurice

Thank you for your honesty
Comment from : Jules

it doesnt matter what you think the coin looks like if NGC graded it your opinion doesnt matter
Comment from : Bilbo Baggins

coin dealers can ONLY rip off people if the people dont know wtf they are looking at
Comment from : Bilbo Baggins

Looks like a pretty busy message board nice
Comment from : Summer West

The value is whatever price they accept, no other factors matter
Comment from : Tom Dalton

The “grading” firms are now making all the money
Comment from : Dana Kraemer

You gotta pay the person what it’s graded, not disregard the professional grading and give it your own Yes, that’s shady
Comment from : Jared White

Professional coin dealers should be required to have grading certification before they take and sell coins If they are a jeweler especially
Comment from : Shake_N_Bake

Hold up dudebrYou admit do doing stuff in this video that you have accused me of doing, that I have never donebrI told you already people only talk about what they knowbrYou con people and call me the conmanbr😁brYou overinflate prices and say I dobrYou deal in coins daily and think the same of me 🤣brAt least I had the balls to mention your name in my video calling you outbrYou stated I was an ebay seller with wild claims THAT I PROVED INACCURATEbrAnother Ohio conmanbrI met people like you before only in Ohio though
Comment from : l

One important thing you did not mention is the fact that you need to "keep the lights on" so to speak Retail space costs money Even a coin dealer has to make a living,brbrNow, having said that, I think that professional grading is still a somewhat arbitrary and subjective thing Some coins will get 3 different grades if sent out to 3 different grading companies Another issue is that there is a threshold somewhere between it being worth the incvestment or not to have a coin graded Most relatively common date coins may not be worth as much as the cost of grading unless they grade really high One example to me is the liberty nickels From 1900 to 1912, most are very common dates and not worth much more than common change But, in higher grades, the values skyrocket brbrOne thing that really ticks me off is when people start talking about populations That is nothing but "smoke and mirrors" to me If the same coin were sent to 3 or 4 different grading companies, it might be listed as having a higher than realistic population Population also does not count for how many are sitting ungraded but in high grades in private collections
Comment from : Jim Garofalo

How much is the cost of grading a coin
Comment from : Mike Harrington

And this the reason why it better/ easier to stick with normal coins What are the odds that your perfect 67 will go up in value?? U can speculate on price of silver going up or down if u want way i see it Like im buying silver as investment Its gona lay in safe and i wont bother with it much When time comes ill sell it for profit Simple
Comment from : Spardasquad Spqr

That 66+ has a nick
Comment from : WeedMIC

not that my opinion matters but if in good faith you negoiated what you in your professional opinion the grade was and the customer agreed you made the purchase and latter you find out you were mistakenits still yours and there is no issue morally
Comment from : Talthan

your first mistake is dealing with people :P
Comment from : Talthan

Or take the price keeep your mouth shut
Comment from : D C

Should be pretty obvious the person getting rid of it, pay the fee, get it graded before you go Other wise how you gonna blame the coin shop?
Comment from : D C

I used to tell customersbrIf it comes back with a higher grade I could give you more moneybrbut if it comes back with a lower grade will you give me money back?
Comment from : Steven Hershkowitz

ole mexico!! thats where it was stamped
Comment from : James McCorkle

It’s all a gamble If you are taking the risk, you should get the reward
Comment from : Eric Anderson

thats the gamble, if they're not willing to risk it that's on them
Comment from : Ryan Loftis

The 2022 PF70 Silver Eagle (NGC) sells for about $20000 I looked at the resell market (2016-2017) and it was selling for over $50000 Good investment
Comment from : Richard Merriam

I've always considered the dishonesty more related to overgrading or trying to sell a cleaned coin as an uncirculated coin It's hard to make an argument over calling that Grade over ms62 as even an expert is making a guess if he thinks it will go higher I've never considered a dealer being dishonest by taking a chance on a coin that will grade anywhere between 62 and 68 Even a schooled and educated coindealer cannot be sure what grade will be assigned to a coin by PCGS Coin dealer has to be very careful or he will not be acquainted or very long because he will go broke pain too much for coins! I have never bought very many coins for the purpose of selling them, but I do try to buy them at a price that I know I can get my money back or maybe a little more if I wanted to sell them If someone is going to buy coins, they need to take some time to educate themselves about what they are doing There are plenty of people selling coins on eBay they will take you to the cleaners if you do not look out
Comment from : Terry Lyons

Rip off? No such thing as long as both parties agree to the same terms You can take whatever the dealer offers you or you can decline That's not a ripoff - that's a free and fair exchange Your lack of knowledge is not the dealer's fault nor is it his responsibility to remediatebrbrIt's pretty obvious to me that the valuation of collectible coins is heavily distorted based on miniscule differences in condition that are highly subjective Very honestly, that's a very dysfunctional and volatile marketplace and an accurate valuation of any particular example of a coin is extremely difficult to accurately establish brbrPerhaps the collectible coin industry has shot itself by creating so many different grades where the same coin could be given six different grades by six different appraisers
Comment from : chuckschilling

Absolutely on all points If you are dealing with a shop, you are at their mercy, their capital, their rent, their light bill, their expertise and time--take these things into account in your dealings and you should be ok if you deal with reputable well-regarding shops If you want to wring top dollar out of any collectible or commodity, get rid of the middleman and merchant it yourself
Comment from : Piscina IV

It’s a pretty rare scenario that I would pay for a not yet designated number grade
Comment from : Richard Lund

Its their choice to sell to you instead of getting it graded themselves They want the quick cash rather than taking the chance of a low grade and/or doing the leg work Keep the extra No obligation to contact anyone
Comment from : liquidfiretibby

It's not a gray area It's called doing business You say one thing customer says another and you try to come to a "deal", that's it
Comment from : ex_SSFD_Lt

It's a bullshit argument either way A raw coin is a completely different product than the same coin in a slab That customer can play the slab game himself before he comes to see you
Comment from : Snarky User

7:31 I bought several of these standing liberty coins and they're uncirculated Paied $25 for them back in 1987 Now I check the value of them 36 years later and they're listed as $34 Nine dollar increase in 36 years Makes no sense I bought them thinking they would increase in value I've got several coins I have held onto only to see they're only worth beans now Not even worth collecting or fooling with
Comment from : CiscoWes

It's kind of a wash Whenever estimating, it can go either way When the deal is done, it's done
Comment from : ArtVanAuggie

The person that takes the risk gets paid
Comment from : Robert Wilson

I'd pay you $450 for the silver content
Comment from : John Matthew

But aren't there times when you bought something and it was a counterfeit?
Comment from : Mathew Maciolek

Exactly why I buy coins I want already graded Glad to find you, I’m about an hour away from me I need to come down and stop in!
Comment from : david allison

This is just why I like junk silver dimes No one cares about grading them and they sound great jingling around in the pocket :)
Comment from : Super Walt

Not a gray area at all There's no grade till it is graded Grading has a cost and a risk If there is a coin that seems borderline, the best you can do is suggest they get the grading themselves If they decline, any few surprise upgrades are yours, and help pay for all the gradings you paid for that did not go as well
Comment from : PhoenixTTD

The buyer takes the risk A deal is a deal as long as you disclose the options up front on under 1K coins
Comment from : Patrick Henry

You sound really like a very honest and God-fearing man I think I’m looking at going to look forward to doing business with you Thank you for your kind consideration, your honesty is to be commended
Comment from : Tom Gunter

If you are being honest and you make money in the end that's your money
Comment from : Stan Valentine

Come back a 66 and it's part of how you make a living YepunderstandablebrWhen you see the vendor at the next swapmeet you could offer them 50 bucks and tell them that you want to buy them lunch
Comment from : jeff hammers

gambler takes the risk and drinks champagne or swears
Comment from : Mart Schkiperov

Dealers that buy comic books or sports cards have the same situation when buying, especially a collection or in bulk The dealer who has invested the time, effort, and capital to establish a store and a reputation backed by educating themself is the one taking the risk in a purchase like this Finding the profitable items is what it's all about The seller has not been coerced into making the sale by the dealer The dealer does not "owe" the seller anything more
Comment from : Wink

I have 30 Morgan dollars i plan to take to my local dealer to sell (probably) I am literally your standard son-whose-dad's-collection-was-in-the-attic I don't buy or sell coins, at all Understand, these coins weren't "free" for me They're something my dad had a passion about when i was young and have myself kept safe for decades (in case a relative took up the hobby) brI've gone online and have looked at grades (they're loose in paper rolls) While obviously circulated, they look to be in very good shape relative to the grades i see shown brMy question is this-brCan i expect my dealer (rural area, most know each other), do pay me fairly for Each of these coins based on some being nice circulated, but obviously collectable examples? brI feel confident that because these are "Morgan dollars", that there is 0 risk to the dealer and he will profit from them how much he wishes, depending on how long he wishes to let them continue to appreciate (with silver) brOr, should i expect him to look at them overall, note any rare date/mints, and give me a basic "dealer value" for Morgan's that come into his store? brJust kind of looking for what the expectation is here for my 30 coins, taken out of circulation and held for the past 50-60years
Comment from : George Hofgren

These coins have already been graded right? Why send it in again? This is why NOBODY should ever "collect" coins for the purposes of selling to a dealer Argueing condition has ALWAYS screwed the consumers on BOTH buying and selling from dealers
Comment from : Steve Ludwig

For me, the coin dealer needs to be in it, just as I am, but most dealers keep making money, even when the price dives down low they don't adjust their premium So, I always buy and never sell It's going to be up to my children to sort it out and I'll be gone
Comment from : Abe Lincoln

My immediate reaction was "finders - keepers" It is your skill to grade it and to recognize potential higher value And that is probably true for a small shop br*however*, if you are trying to create something like a brand identity and outstanding reputation you can suck it up and play the "fair value" game Just stick to it That is essentially an investment into your ability to bring new business and to spread positive word of mouth
Comment from : Uncle Theo