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#21
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James McCown states:
Well, Ira, I'll give you just one example of what I have seen. A non-collector in Columbus was trying to sell a collection she inherited. She had received an offer from a nationally prominent dealer in the area (hint:Westerville) and was unsure whether or not to accept it. A friend of mine who runs an antique store asked me to look at the woman's coins. Here is just a partial list: (1) Complete set of indian cents. The 1877 was at least MS-63 BN. (2) Complete set of standing liberty quarters. The 1916 and the overdate were decent VG's and the 1927-S was a solid MS-60. (3) Nearly complete set of Morgan dollars (lacking 1895-P and 1893-S). The 89-CC was XF. so far as I could tell, all of the key dates were genuine. The offer was $500! This kind of crap goes on all the time, at coin shows and elsewhere. I don't understand why, but there is some adverse selection problem that attracts unscrupulous people to become coin dealers. You can stick your head in the sand and deny it all you want, but it's a fact. An adverse selection process that attracts unscrupulous people to become coin dealers? Well, thank you Jim for that vote of confidence! I called you gullible, and you call me a miscreant of the first order! There's slimeballs in any business, whether it's antiques, coins, stamps collectible sports cards, or jewlery business. If that offer happened the way you stated, and that was that dealer's standard way of doing business, he'd be out of business in short order. That type of rip-off rarely goes unnoticed, as these guys love to brag about those deals! These anecdotes are called "my Aunt Emma" stories. The teller seeks to "prove his point" with a single point of light. Hardly using the scientific method! Ira Stein |
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#23
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A non-collector in Columbus was trying to sell a collection she
inherited. She had received an offer from a nationally prominent dealer in the area (hint:Westerville) I know who that would be. No names from me (smile face here). |
#24
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These anecdotes are called "my Aunt Emma" stories. The teller seeks to "prove
his point" with a single point of light. Hardly using the scientific method! What scientific method would that be? |
#25
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In article , (Phil Barnhart) wrote:
Obviously a work of fiction. RARE COIN AUCTIONS NO MINIMUMS http://frankcoins.com Ebay Powerseller FRANKCOINS Texas Auction License 11259 Board member of Texas Coin Dealers Association, Fort Worth Coin Club. Member: Texas Numismatic Assoc, American Numismatic Assoc. |
#26
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#28
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A dealer that pretends his own common coins are valuable will not sell many. Unless they are the Home Shopping Network (smile face here). |
#29
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Harv wrote:
"Phil Barnhart" wrote in message om... Mmm - lets say you know nothing of coins and get several as part of an estate. HOW are you going to educate yourself? Library references in most towns are woefully out of date and inadequate. Do a Google search on coin collecting (make it fair - pick a subject you know NOTHING about collecting, do a search, and give yourself a half-hour - could you now determine the value of a particular item? Nope). So what are ya going to do. What would a typical non-collector do? Since numismatics is one of the few areas without independent appraisers, you take your coins to the local dealer . . . . What else would someone do? Reasonably? Find or make a friend who is an experienced collector, sit down with him and his collection and your stuff and start asking questions. How does anyone learn about anything? They have a teacher or a mentor. Were you born knowing how to drive or how to balance a checkbook or ride a bicycle or use a computer? I've been using computers since the late 1970s and still don't pretend to know everything, and still ask questions of friends who specialize in certain areas in which my knowledge is lacking. Of course I don't NEED to know everything there is to know. I don't NEED to know how to program in assembly language. If you're trying to sell coins, you don't NEED to know the mechanics of how a coin press works.. You can only take "self taught" to a certain limit, and then you have to seek the advice of others with more experience and just start asking a lot of questions. There's only so much you get from buying a pile of coin books and trying to teach yourself what it all means. Unfortunately, they don't give college courses in Numismatics, but if there really are tens of millions of collectors in the US, they probably should.. If they did, all those ripoff teevee coin selling shows would soon go away as people learned what a scam they are. Dealers wouldn't rub their hands with glee like Mr. Burns when they fleece an uneducated seller out of a valuable coin for pennies on the dollar. It's like anything else in life. If you wanna play the game, you have to learn the rules.. and the best way to learn the rules are from someone else who already knows them.. Harv That's the same opinion I would have offered. If you have come into a collection of something that you believe may be valuable and want to sell it, get someone you can confide in to help you get advice as to the best place to sell it--if you must. Unless you have to have cash in your hands by Tuesday, you should have plenty of time to explore the possibilities. I have little sympathies for the person, elderly or not, who unloads inherited valuables or collectibles just because he doesn't know anything about their true worth and won't take the time to find out. Ironically, I would like to leave my coin collection to the relative who is the most well off and would be the least likely to run out and unload it the next day. Bruce |
#30
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"I have little sympathies for the person, elderly or not, who unloads
inherited valuables or collectibles just because he doesn't know anything about their true worth and won't take the time to find out." Wonderful attitude and great compassion you have for humanity. In my business, Bonds, that is called fraud. It is regulated at multiple levels and your coldhearted response is an attitude that would get you barred from the Bond business. Perhaps you would cheer for me if the next recently widowed old lady brought her husbands life savings in and I paid 25 cents on the dollar. Get a conscience you fool. "Bruce Remick" wrote in message ... Harv wrote: "Phil Barnhart" wrote in message om... Mmm - lets say you know nothing of coins and get several as part of an estate. HOW are you going to educate yourself? Library references in most towns are woefully out of date and inadequate. Do a Google search on coin collecting (make it fair - pick a subject you know NOTHING about collecting, do a search, and give yourself a half-hour - could you now determine the value of a particular item? Nope). So what are ya going to do. What would a typical non-collector do? Since numismatics is one of the few areas without independent appraisers, you take your coins to the local dealer . . . . What else would someone do? Reasonably? Find or make a friend who is an experienced collector, sit down with him and his collection and your stuff and start asking questions. How does anyone learn about anything? They have a teacher or a mentor. Were you born knowing how to drive or how to balance a checkbook or ride a bicycle or use a computer? I've been using computers since the late 1970s and still don't pretend to know everything, and still ask questions of friends who specialize in certain areas in which my knowledge is lacking. Of course I don't NEED to know everything there is to know. I don't NEED to know how to program in assembly language. If you're trying to sell coins, you don't NEED to know the mechanics of how a coin press works.. You can only take "self taught" to a certain limit, and then you have to seek the advice of others with more experience and just start asking a lot of questions. There's only so much you get from buying a pile of coin books and trying to teach yourself what it all means. Unfortunately, they don't give college courses in Numismatics, but if there really are tens of millions of collectors in the US, they probably should.. If they did, all those ripoff teevee coin selling shows would soon go away as people learned what a scam they are. Dealers wouldn't rub their hands with glee like Mr. Burns when they fleece an uneducated seller out of a valuable coin for pennies on the dollar. It's like anything else in life. If you wanna play the game, you have to learn the rules.. and the best way to learn the rules are from someone else who already knows them.. Harv That's the same opinion I would have offered. If you have come into a collection of something that you believe may be valuable and want to sell it, get someone you can confide in to help you get advice as to the best place to sell it--if you must. Unless you have to have cash in your hands by Tuesday, you should have plenty of time to explore the possibilities. I have little sympathies for the person, elderly or not, who unloads inherited valuables or collectibles just because he doesn't know anything about their true worth and won't take the time to find out. Ironically, I would like to leave my coin collection to the relative who is the most well off and would be the least likely to run out and unload it the next day. Bruce |
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