36x face....do people pay this?

[Vdubguy]

I know this isn't CRH related. But I was just at a flea market in town and a guy was selling 90% halves at $18 FIRM, and Peace and Morgans for $35 FIRM. I've heard people paying 14-16x for 90%. I didn't ask the guy what's up because I didn't want to offend him. Just boggles my mind that this guy was asking that, and boggles my mind even more thinking someone might pay that. Maybe I need it start selling, haha.

HH

 

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[maverick]

Some people make their money off the ignorance of others, flea markets people think they are getting a deal and may pay, that's insane to ask though. HH, Maverick.

 

[Iamrussell]

He probably bought when spot was high and so wont go lower- and ya some people are ignorant and will pay

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just keep stacking, just keep stacking, stacking stacking stacking

 

[Vdubguy]

I see that as a good explanation, still seems crazy to ask that high. I know myself and everyone on here wouldn't pay near that. There are people out there that don't know I suppose.

 

[SilverFace]

Some people make their money off the ignorance of others

absolutely true. That coin guy on HSN is probably the single best example. He's probably one of the biggest coin dealers in the country and he's made millions and millions of dollars blatantly ripping people off for decades while being so completely shameless and public about it. He's created this whole racket of buying millions of dollars of freshly minted coins every year and having them sent str8 from the mint to grading services to get them graded and slabbed in order to try and justify the huge mark ups he charges for his coins. It astounds me how he could continue to have any credibility with anyone and continue selling to so many clueless people year after year. It's people like him that give coin collecting a bad name.

But I do like his motto of "if your going to collect something it might as well be money". But my advise to anyone would be if you're going to collect coins do yourself and all other coin collectors a favor don't buy from him.

 

[Twitch]

There's a pawn shop by my house that has a bin full of '64 Kennedy's listed for $12, which is crazy. I didn't even attempt to haggle. The real kicker was that there's a bin full of '69 Kennedy's next to it that are listed for, wait for it, $12.

I have a place locally that'll sell you all the Walkers and Franklins or '64 Ken's you want for $8.

 

[Twitch]

Oh and I paid more than 36x face yesterday for some coins, but it was a handful of Indian Head Pennies.

 

[TheCoinKid]

90%ers go for 18-20X face on Ebay every day. I can't even understand those prices.

I'm guessing this guy makes hay selling something else, and augments his profits when the random idiot walks by.

 

[ArkieBassMan]

At my local flea market, there are common date wheaties on sale for $2-$3 each. Nearly worn slick common date V nickels carry a $7-$8 asking price. Junk Mercs are priced at $4-$5. etc etc etc

I assume that about the only time that these vendors sell a coin is to some little old lady that doesn't know a thing about coins, but wanting to buy something for a grandchild that collects. Or something along those lines.

 

[fistfulladirt]

I know this isn't CRH related. But I was just at a flea market in town and a guy was selling 90% halves at $18 FIRM, and Peace and Morgans for $35 FIRM. I've heard people paying 14-16x for 90%. I didn't ask the guy what's up because I didn't want to offend him. Just boggles my mind that this guy was asking that, and boggles my mind even more thinking someone might pay that. Maybe I need it start selling, haha.

HH

Someone will pay that.

 

[Gold Maven]

He may just be pricing in a little haggle room. Nobody pays full price at a flea market......well, you should at least try to haggle.

 

[Vdubguy]

He may just be pricing in a little haggle room. Nobody pays full price at a flea market......well, you should at least try to haggle.

Haha, this is true, I always haggle and when they don't budge, I don't buy. I just didn't even want to start out below half his asking price. And I don't really buy silver for over face value unless it's a GREAT deal.

 

[Vdubguy]

Someone will pay that.

I need to find these people!!

 

[BuffaloBoy]

One of my friends sold quite a few ASE's about 2 months ago for $75 ea

 

[Joe777Cool]

Thete is a coin shop by my work that is selling at 20x face for junk 90% right now (everyone else is around 16}. Out of curiosity I called him 2 days later to see what he was buying at and it was 10x face. 100% markup. Thats really scummy!

 

[onfire]

just bought 80 merc's today for 114.00$

 

[TypeCoin971793]

I just bought ten Mercs at 34x face, but they were better dates in higher grades, so I didn't really mind. Then again, this was at a coin club meeting tonight, not a flea market.

 

[ArkieBassMan]

Thete is a coin shop by my work that is selling at 20x face for junk 90% right now (everyone else is around 16}. Out of curiosity I called him 2 days later to see what he was buying at and it was 10x face. 100% markup. Thats really scummy!

Why? Who gets to decide where the "scummy" line is drawn and why?

 

[Vdubguy]

I just bought ten Mercs at 34x face, but they were better dates in higher grades, so I didn't really mind. Then again, this was at a coin club meeting tonight, not a flea market.

I would do that for key dates and such, but not for a '64 Ken or common Ben.

 

[NJ Marty]

Thete is a coin shop by my work that is selling at 20x face for junk 90% right now (everyone else is around 16}. Out of curiosity I called him 2 days later to see what he was buying at and it was 10x face. 100% markup. Thats really scummy!

Why scummy? I own my own small business and if I don't get at LEAST a 100% profit on my services I would have folded long ago. And a 100% profit is SH*t after mr IRS is done with me at the end of the year. So I actually have to shoot for more than 100% to be able to by some dinty more stew for a nice dinner every so often.