covina coins

Has anyone done business with Covina Coins ? I had a few odds and
ends to dispose of and their ads in Coin World and Numismatic News
seemed fair. I was going to be in the LA area, so instead of mailing
the items I took them into the store. This is where it got weird (in
my opinion) They would buy my items at the ad price if I they could
mail me a check because other folks were "ahead of me". I thought
bringing the stuff in would be easier, quicker, and a cash transaction,
although I was offered 15% less if I wanted payment now instead of
later. 15% less was under bullion melt for some of the items (2pc
constitution set) I did not really need the money and would rather
give them to a kid, a coin club, etc..

In article .com, "goldsheet"
wrote:

Has anyone done business with Covina Coins ? I had a few odds and
ends to dispose of and their ads in Coin World and Numismatic News
seemed fair. I was going to be in the LA area, so instead of mailing
the items I took them into the store. This is where it got weird (in
my opinion) They would buy my items at the ad price if I they could
mail me a check because other folks were "ahead of me". I thought
bringing the stuff in would be easier, quicker, and a cash transaction,
although I was offered 15% less if I wanted payment now instead of
later. 15% less was under bullion melt for some of the items (2pc
constitution set) I did not really need the money and would rather
give them to a kid, a coin club, etc..

It's called living off other people's money ...

They "buy" stuff from the public, ship it to THEIR buyers, wait
until they get paid and THEN pay the people they bought it from.

It's a nice way to make a decent markup without having any of your
own money invested ... until one of their buyers slow-pays or
bellies-up and then the pyramid collapses ...

If you want payment up front, you gotta accept a discount
since they'll have to front their OWN money on the deel ...

--
Ken Barr Numismatics
P. O. Box 32541 website: http://www.kenbarr.com
San Jose, CA 95152 (souvenir cards, MPC, Hickey Bros tokens)
408-272-3247 Next show: Gateway CC, Merced 06/12 (no table)
ADVANCED NOTICE: ANA World's Fair of Money, San Francisco, CA 7/27-31/2005