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

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Daniel, our hobby would be much better if we had more people like you. Thank you!

This man is doing his very best to kerp his name clean, educate de rest of us about this subject and in doing so he represents all honest people in these type of business. You earned my subscription, Sir.

I really appreciate Daniel's straightforwardness.

Hi Daniel, A great lesson on managing expectations for those new to the hobby. As a accumulator for 50 years, the lesson is equally let the buyer beware as well as the seller in your example. Once a deal is struck, it's final. If a seller sold too cheaply, the money lost should be the cost of the life's lesson. If a dealer gets the reputation of paying the minimum, downgrading every raw coin to base his offer, he would have a poor reputation and a short list of clients. The hobby, "at it's best" is based on fair, equitable deals and the real value is those relationships between dealers and clients built on trust over time.

DEAL IS A DEAL, YOU SHOULD NEVER HAVE TO CALL SOMEONE AND SAY HEY SURPRISE I OWE YOU BLA BLA BLA. THEY CAN DO THE WORK IF THEY WANT FULL VALUE!

I've met honest dealers, and I've met thieves that were posing as coin dealers. Most dealers, and myself included, would tell people up front what I would suggest to them, and I would let them decide. I dealt with all types of customers and most understood when explained to properly. I always explained we are a business and have to make money. Thanks.

Daniel, I am rather new to numismatics and just from watching you and situations you openly talk about, you are one of the very few whose opinion I absolutely value. Thank you man, keep up the good fight!

You take all the risk and carry all the expenses of a coin shop with employees. You get the rewards if there are any. And, there’s no guarantee you’ll ever sell the coin. The guy who sold it to you, at least he sold it.

You basically summed up the same things we tell people every day at our shop as well here in NC. We will often tell people when they have nice raw coins either "you should send these off and have them graded and we will pay you accordingly" or "we will buy these and have them graded and settle up with you accordingly." But you're also right, when you're buying very common coins that could be gem unc but one grade means everything, you really can't be nitpicking every coin like that when you're buying and a couple hundred dollars is basically par for the course because at the end of the day it is a business, and we have to make enough profit to keep our doors open.

Thank you Daniel, for educating us veterans and new collectors to our wonderful world of coins and currency collecting....

The most discouraging thing being a new collector is the dealer running to the back and grabbing a stack of problem coins that technically got a grade. I wish there were more dealers that you can trust like Daniel.

Thanks for your honesty. I think having a clear understanding with the consumer and/dealer should be key in the transaction. Being honest and fair in buying and selling. Both or there to make money and both are there at the risk of not gaining what they thought they should get. Thanks again for these videos. I’ve been a collector since 86’ and still learn so much from you guys. Take care.

I have been collecting coins for over a decade now, and learned the hard way (about grading, numismatics, etc.) Thanx for sharing this online, I'm going to be a more discriminating collector now!

A deal is a deal! If the coin comes back at a lower grade you’re not going to try and claw money back from the seller! So why should the reverse be different?

Hey Daniel there is no gray area. that's the risk that both dealers and sellers take when dealing with coins and collectibles in other stuff. That's the name of the game. One should never feel bad if it's an honest deal. I've had that happen to me on both ends. I found some good stuff and I've had I've sold some good stuff but that's it that's the name of the game and people need to understand what it is and I thank you for the video because you have explained it very clearly. thank you

The fact you even have the thought is a credit. Many don’t worry about it.

Kudos for the honesty in this video. I used to buy coins in the 80's, but frankly as the hobby evolved, it became about 200% clear to me that the grading thing makes them completely untenable in terms of their investment value because of the inevitable corruption involved in the grading process. These so-called "independent" grading services are a 100% joke, and anyone who thinks they are legit is just naive. As the hobby declined in the last 40 years, the coin "market" devolved badly for me as the one thing you could depend on 100% was that any changes would be to the detriment of the collector. I still own a few rare coins that were graded by major auction houses (Bowers and Merena mainly), but over the years, the one thing that I knew for certain is that their stated grade would decline over time. All this nonsense about MS-65, 66, 66+ (probably the biggest joke of all) 67, etc. was UNQUESTIONABLY intended to fool less experienced collectors into thinking that the grading services were the objective way of handling coins. Even today, different grading services = different grades, so by definition there is no objectivity involved. The other thing that is so bothersome is that this high level grading crap tries to fleece people into thinking that coins minted in the last 50 years can be "rare" based on their grade. I would be surprised if the coin collecting market doesn't collapse in the next generation, but then again, P. T. Barnum's phrase ("there's a sucker born every minute")might keep it alive for some time.

A person should never expect to get more money if it comes back graded higher. Would they come back and pay you if it graded lower than expected?? But, I like the way you explained everything! You are being very helpful and giving the person your professional opinion and letting them know their options. I would love to have a coin dealer I could go to like that! Nice video! Thanks

This is my first video of yours I'm seeing and by the end of the video it was a no brainer to go ahead and subscribe. You bring up some great points and I sincerely admire your honesty. Antique US coins has been an on-going hobby turned [small] side business for me over the last 19 years. I've reached back out a few times over the years where I've bought small collections and they turned out to have a hidden gem in them. It only felt right to give them some more, but I split the markup with them versus handing it all over. Every time they were ecstatic that I came back with more money and I can't recall a single one complained that I should have given them more. Thanks again for the great vid.

Finding guys like you is a benefit. Last summer I took 20 Ms 64 graded Morgan to a dealer and all he offered was raw avg circ prices. I said I would wait and thanked him for his time.

I believe it's incumbent upon the individual to educate one's self and research everything. It's a Hobby, meaning You enjoy it, therefore people tend to understand most aspects if they are just in it for Fun. Ignorance is ok, but, still not an excuse to stay ignorant. I took a 22.5 year hiatus from collecting seriously to join the Army. I have however caught up to most new aspects of Numismatics since retirement and feel very confident in my knowledge. It's thanks to people like You Daniel, Shaun Davidson, and the Q& A folks that my education has allowed me to avoid such pratfalls. Thank You Sir. If Y'all don't know, then start watching videos and learning.

I was going through my coins the other day, I just normally bought silver for stacking. I bought a small gold coin in a PCGS holder marked PF70DCAM, I didn't even know what that meant at the time. I just wanted a piece of gold. Thanks to your videos I have learned so much, thanks Daniel! The coin is a Bicentenial for the U.S. Constitution $5 coin. I paid $325.00 for it.

My thoughts are if you sent it off to be re-graded and it comes back a lower grade are they going to come back and give you some money back? Doubt it, it works both ways. If the dealer puts the time, money and risk into cracking it open and sending it off any potential increase belongs to who took the risk.

Don't ever feel bad if you make a couple thousand rather than a couple hundred. It was your coin to gamble on. They didn't have to gamble. They were happy with what you gave them or they wouldn't have sold it to you. You're a rare, good-hearted, businessman. You're taking the risk and deserve every penny of profit you make. Cheers

There's no reason to call anyone back in those scenarios. Once a deal is sealed it's sealed. I don't give Raw coins a Graded Coin Value in transactions. BU is all you can give it until it's Certified by a Respected Grading Co. If a Customer felt solid about their opinion, I would tell them to bring it back Slabbed as such.

Nobody's "ripping off" anybody here. First, you're not dealing with kids, you're dealing with adults, right? Treat people like adults who know what they're doing. If people want to research coins themselves to find out what the varieties are in their handful of coins, or are worried that they might be selling off those coins too cheaply to a dealer (who must, in simple business terms, buy low and sell high), then they can get the coins graded themselves and/or research the coins themselves. There is no "secret information" about coins that dealers hold all to themselves anymore. Something called "the internet" has happened. It's a place where a person with some old coins but no knowledge about the coin market can find out what they need to make a 90% reasonable decision about how to dispose of their coins. Well, they might have to get a subscription to a few things (a grading company or Greysheet), but it's not like non-coin people are SO addled by a lack of information that they are just the innocent babes in the woods. Simple internet searches will point you in the right direction. The problem is that the original owners of these coins don't want to go through the trouble of correctly identifying what they have in their pile of coins because that involves (for them) too much time and effort in a field in which they are novices. Or they don't want to pay a dealer for an assessment. They want to offload the coins onto someone for ca$h, but then they also want access to any future rewards that the dealer later gets from upgrades. The only "grey area" that I can see is where someone comes into a shop with a small number of coins that can be quickly viewed and valued and which contain obvious key dates or varieties, the dealers sees that, and does not inform the seller of such and buys the coins at way below market. Still, people need to inform themselves, but dealers at that point need to be honest about GLARINGLY-obvious big coins that come into their shops.

I asked a similar question in 1 of my videos: "If I find or buy a better, semi key or key date coin from the junk bin, am I obligated to tell the seller?" Example: I bought these Morgan's in a $38 junk bin; 1890, 1892 and a 1903. I didn't pay attention to the mint marks until I got home, as I was just having fun filling a Dansco year only set of Morgan's. When I got home, the 1890 & 1892 were both CC's and the 1903 was the O. Should I have contacted that LCS and payed more? They even said, "No key dates are in the bins", while I was looking thru them.

That's great information for us collectors. Grading is such a fine line and it gets nerve racking to deal with some people and I agree to send your coins in yourself and you'll know for sure what you have. Thanks

Thank you Daniel for another very informative video. I love how you analyze your coins and articulate the atributes and faults, while also maintaining the impact of the holder!! I look forward to your videos! Thank you again!!

Same thing can be said about finding a deal at a yard sell for $5 and finding out later it’s worth 100 times that. It’s up to seller to do their research if they want reasonable value for their item.

Excellent topic, and I can see the gray area. It's kind of interesting, because dealers are supposed to be the experts, but they can't know EVERYTHING, and certainly not necessarily what a coin will grade unless it's just absolutely exceptional. The most obvious examples would be sliders. I've seen some people in a room come to what is considered "consistent" grading by coming in at just a point between them, but that point can mean a lot of money (at least to the seller). But you can't sit there and look at 100 coins from a seller while you're busy dealing with other customers etc. Especially in the coin business, time is money. I think it should be on the seller to do some research and if they don't like what one dealer says, go to the next. I can tell when a dealer is WAY off: I have had several dealers not realize I know what I'm doing (at least somewhat! lol). They have tried to grade a MS-66 Ike I have from anywhere between MS-62 and MS-64. I think I had ONE dealer say MS-65, but I had several graders look at it at some big shows and call it MS-66 consistently. The price jump isn't hundreds for the coin, but at least $100 I think, which is a big deal to me! Maybe they just don't know any better. Not sure. I think if I had ANY doubt personally, I'd ask the dealer if he'd either consign it or MAYBE try to broker a deal where I would see if he'd pay me X amount for Y grade and then follow-up and see if he'd pay me slightly more IF it came back higher. But I think that would have to be a VERY special situation. This also brings up an interesting question: We sellers expect the dealers to pay fair prices, but some of us, myself included, are more than happy to cherrypick their inventory. Now, I've never found anything worth more than $50 or so, but on a $10 coin that's quite a jump, and I expect a dealer to PAY ME fairly. Is it hypocrisy? I'm not sure. I think my conscience wouldn't allow me to find a several hundreds or thousands dollar coin and pay only a fraction of what it's worth. But I don't know.

I have never seen a coin dealer offer even close to a fair price, even on key dates. They try to low ball you every single time. I appreciate you being honest.

I get the where do morals end and business start, but I feel like you have an honest conversation with a customer and if they agree to sell an item for a certain price thats it, IF that coin turns out to be worth 10X or 100X what they thought thats the dealers good luck and the customer isnt owed anything...You dont ask to buy stuff people go to YOU to sell you stuff...thats just business as you know more than I you win some you lose some...but thats not on the customer its on you so likewise if a coin is worth less than you paid do you think the customer will come back to give you more money? lol so there's your answer...YOU as the dealer do NOT have a moral obligation to inform every customer about every item they want to sell, if someone goes to a car dealership and wants to sell their $20,000 used sports car for $10k do you think the salesman is going to try to talk them out of it? hell no lol...You can be nice and you can be generous but you cant go out of business doing so, I worked for a guy who ran a hot dog cart, he went out of business becasue he was TOO generous and gave half the food away so he never mad a profit...

EXCELLENT Video, and exactly the truth about everything! Thank you! I am a newbie, and this is exactly the kind of honesty and directness I like to hear!

The only reason some go into this line of work is is to sit back and relax. I’ll just sell privately but on occasion see what lcs shops have.

Thank you for your honesty. Your really helped me out as I’m about ready to head off to a coin dealer myself.

If you go to a dealer of anything, you have to expect they will only pay an amount for your item that ensures they make a profit. No, I would never expect a call back if they did well with my item. That's ridiculous. The only exception would be if we made an arrangement stipulating compensation for an unexpected higher profit margin.

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.

That is the nature of the business in the buying or selling of ungraded coins. It is subjective. If one thinks the ungaded coin they want to sell is worth more than someone is willing to pay get it professionally graded. The knowledge and advice you provide is priceless. Thank you Daniel.

Once I pay for a coin it’s my win or loss not the seller. As long as both seller and buyer have the knowledge and agreed Honesty is the best policy 🌼

It's the same with diamonds -- when they walk in the store (as a Dealer) I have to be open and honest (to keep my reputation) and acknowledge, "Hey, maybe it's 'X' and I could pay for it as though it is, but If it's even a little less than 'X' I would take a huge loss, so I have to offer as though it is only 'Y'."

Thanks for your thoughtful video drop! I'm a part-time "vest pocket" and swap meet dealer, and regularly have people bring me coins they want to sell. If I am not confident in the coin value, I will make what I believe to be a fair offer and suggest that the seller should get several competing offers. Typically they will just accept the offer. The only time I felt a little bit guilty is after having turned in a nice Trime for grading, that I had bought for just under $100. The seller was thrilled with the transaction - but the graded coin came back with a value closer to $1000 than to $100. If I should meet that customer again, I will definitely give him deferential treatment - but I certainly won't just write him a check.

I agree that the seller should send the coin off himself and have it graded prior to selling it. It takes much of the ambiguity out of the situation. Thanks for a very informative video! -WeeklyBULLION

My interest in coin collecting has been reignited after a 50-year hiatus. Yes, I collected when I was a youngster. I recently attended a couple of coin shows and was amazed at how much coin collecting has changed, especially with the new grading system. Coin collection seems to be much more of a business than it was a hobby as I remembered it. Fortunately, I would say the majority of coin dealers have integrity, like yourself. They're in it mostly for the enjoyment, not so much to make large profits. I just want to express my appreciation for your channel. You cover a lot of great topics that need to be addressed and understood as far as I am concerned. I applaud your efforts to alert us small time collectors of the issues out there. You definitely represent and uphold the motto, caveat emptor. I hope to visit your shop and meet you in the near future.

As you mentioned. I firmly believe that if a person expects to get paid according to what they think a Coin could grade at a high MS. Then they should send it off for grading. I'm they want to sell it as a raw Coin to a dealer then they should expect to receive a fair amount, less. Because of the time, expense and uncertainty involved in grading. Then if the Coin eventually grades much higher than expected, then I feel like the dealer should consider contacting the original seller about the grading results, according to his/her moral values and come to terms with the original seller as a fair amount to divide, once the Coin has sold. As it will allow the dealer to negotiate a better price for the final buyer. The key point is that of the Coin dealers, morals and honesty and what makes them the type of business personality that they want to place on themselves. When I started my own business in construction and remodeling, an elderly friend of mine of over 50 years experience in the same field. Gave me what I feel is the most important piece of advice that I still hold of high regard to this day. "If you do good work at a fair price then the customer may tell a few people. But if you over price and do crappie work, then they'll tell everyone they see. Word of mouth is your best advertisement. It doesn't cost anything and will always be remembered and expanded on throughout the community. This is a known fact and possibly the most important factor in my business growth within the first year. I went from a possibility of consideration, to having to turn away numerous jobs that I just simply had no time for. And yet many were willing to wait for months, because they rather that I did the work.

If you are buying coins that you know will grade high, you make the fair offer up front. If they grade higher than expected, bonus, BUT if they grade lower, do you ask the customer for some money back? On the flip side, if you are intentionally offering ridiculously low to inflate later, or to stack for personal reasons, you won’t be in business for long. In the end, who ever has the silver, wins in the deal.

As a collector, it is normally good advice to "know your craft" and value of what you have. That being said, it is sometimes necessary to defer to a "professional" to determine the points that make the item valuable or limit it's value. This is what we do when sending items off to be graded for example; the people grading them are human and imho using their discretion within parameters. Remembering that dealers are also in the business of investment and not losing money. If the seller agrees to the deal, it is not the seller's job to upgrade the sale after the fact.

If you're happy with the deal and the seller is happy with what they got that should be the end of the transaction. I see nothing wrong with doing business that way. The seller should have an idea of what they want or need to get out of the transaction and have a general idea of what it might be worth. I watch all of your videos and have purchased a few things from your website and have been totally satisfied

enjoyed the video. most people don't understand what's involved in running a coin or jewelry store, the overhead, the inventory, the risks and costs can be huge. Personally, I like it when customers demand above retail for their coins because they saw it listed for some crazy price in some chat room...

For me it's fairly simple. The moral position of the expert buyer is to provide enough information for the seller to come to an informed decision on whether or not to sell.

I wish you were in my area, Daniel, because you'd be getting all my business! The coin dealers in my area would offer you "X" for whatever you're selling. You might get a bit more if you haggle. If you don't like the price, they say "Oh well" As for them sending off coins to get graded and they get lucky with a good coin, they would never get ahold of you to give you money back. They would consider it more profits for themselves. So, for you to be this honest is very rare and you deserve some 👍👍👍 Thanks for sharing. 😀

Thank you, you are right, I have a coin I believe is quit valuable, I was not sure what to do. I think I will send my coin myself. This is a gray area. My tbing is who can you trust.

I would say if you buy a roll of coins and there is a "gem" in there, you are under no obligation to give more $$ to seller. On the other hand, if you talk someone down and then find out they were right, it would be nice to offer a little more. People are in desperate times and everything helps.

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.

Oh wow I just found your channel because I've been getting into coin collecting and you said your from Portsmouth Ohio. That's so cool I live in Lucasville. 😁

It really comes down to the spirit behind the purchase and the sell, so there are several things at play here. First, if you, as the buyer, make the deal paying the lower price, because you think that is the grade it will most likely get, then no matter the final grade, you don't owe them anything more, because you dealt with them honestly. If you get the higher grade payout, figure it was good karma payback time for you. Don't forget all the coins that you paid the lower amount and it graded at that lower amount, or the coins that came back at a loss as cleaned, or a lower grade than you expected. Now, if you meet up with the person again, I think it is appropriate to throw them some bonus money or a wholesale price on something out of generousity. But it doesn't need to be a big share - remember, you took all the risk- you put trust in them to have sold you a gradeable coin, and put the money and time into getting it graded, when it could have come back cleaned or graded at a loss. The seller should not feel they are due any share of the extra profit, and appreciate any that you might choose to pass along. They should feel happy for you, and comforted in the fact that it got the grade they thought it could have - and maybe they learn a lesson from the sell. Which leads to my second point - NO ONE should ever expect YOU to pay the price as if its graded when its not- that's living in fantasy land. They should be willing to sell based on the most likely lower grade - and feel lucky to have gotten that much - or they need to put their money where their mouth is and get it graded before they try and sell it to someone like it is. If they are so confident it will grade that, and give a buyer a hard time for not agreeing- but haven't taken the time to send it in themselves? There is something fundamentaly wrong with someone doing that- it's a shady salesman tactic that pressures the buyer by questioning their knowledge - and ability to appraise the item - when really it is the seller that is showing their lack of understanding of the uncertainty in grading, or their lack of confidence in the coin to grade at the level they want you to pay them for. Then there are the buyers that low ball someone intentially by acting as if it doesn't have a chance to grade high when they think it will actually grade at the higher level - they are crooks in my mind. Especially when they pressure the seller to sell at the lower price by questioning thier knowledge, or taking advantage of the persons need to sell by making them worry that no one else will buy the coin at all besides them. Why would they buy a coin if its worthless to everyone else? Answer - they wouldn't - they are lying, and don't deserve a sellers business. Conclusion: If you are trying to deal honestly with a seller, and they are trying to get a reasonable deal that takes the fact that the coin isn't yet graded into consideration, then you are living in the light, and can get a good nights sleep :)

NGC just gave their graders a raise to I think 15 dollars an hour. So, if you think that a grade is off think about who is grading our coins...

The one who takes a risk and then benefits from it unexpectedly should be glad with his deal and good fortune, Seller be happy for the risk taker !

I send coins to PCGS and I am surprised each time they come back…..details grade on some yet I did get a DMPL back……I learn each time I receive them back…..it’s a hobby for me and I enjoy it very much…..your videos have helped me so much….please keep up the good work and know you can’t please everyone.

You take on risk the moment you buy any coin, and then you can put in the added risk and investment of getting them graded... then you sell them. All of that takes time, energy, and expertise. It's not ripping people off, it's a good and honest business. Thank you for your discussion on this topic, I think you highlight an area where the discerning buyer can aquire a coin worth transporting to the top one or two grading companies and instead of fumbling with bubble bees - sell to you a coin worth more than before.

Most people don't understand the costs of running any small business.

You bought it as graded, that's fair. The seller always has the option to re-grade it before selling.

Daniel as a super honest guy like you, I'm sure that the way you pay up for coins I'm sure you have lost a lot of money trying to do the right thing by people. Just those rare gold coins you bought you paid more than fair prices on and that was a big hit. I'm sure that some people do it of course

Thanks Daniel. Honor and integrity is important with your LCS. eBay not so much.

An honest dealership is self - explanatory and never goes out of style

I fully understand the grading game Daniel. I have lost more money than I care to admit submitting coins that I thought were high grade only to have them come back at a grade that had a value less then the grading fee's. Other times I had great luck but those times quickly get swallowed up by the losses. Not having a Coin Shop, my only recourse was to take the loss on ebay what with listing fees, sellers fees, shipping and supply costs. This business, is a fickled business without a doubt and you have to work really hard to stay on top.

Thank you for a great informative video. You appear to be genuine and honest Thank you for that

If it were to be a significant difference in value I’d like to think people would give a little back. But coin dealers are dealing with soo many people daily and I can see that getting complicated. That’s a good topic.

You’re exactly right. I agree with everything you said.

I agree with you. Once you buy the coin, it’s yours. As a dealer, you have to always err on the side of caution. If you get a good coin great. I don’t think if you over pay the person you buy from will reimburse you.

Hello, I agree if it’s a high profile deal and you know what the probability is in a way. As a small business owner, customers aren’t aware of all the extra work you have to do. For them they walk in your store, talk to you for a few minutes and are out there for with a lot more cash than they had when they came in. I think your good and you deserve every bit of money you earn man!

Well said appreciate your support

I think you are very on point here. There is such a fine line between the values. You're doing you due diligence when someone comes to you. That's the best you can do. If a hundred or two is gained after you grade the coin then so be it. If its a million dollar coin and you low ball the seller then that's unscrupulous.

If you take the risk you need to accept the gains or loses. Just be fair and you should not have doubts. I also think as an option - if in real doubt the coin is VERY NICE then split the cost of grading with the seller (subtracted from the currently agreed sale price) and if it comes in higher they could get a bonus based on grade. This could only be on very special occasions and limited to when both parties have doubts.

I agree that is a grey area and if someone makes a little extra than was paid for when after grading then power to them they made the extra effort in the first place. Personally i buy raw coins from dealers or collectors, also i buy coins already graded if that what im looking for. Thanks for covering this subject in this video.

Daniel,I've been following your channel for quite some time. I like your honesty and guidance in coin collecting,I've gained some knowledge in coin collecting which I began as a kid in the '60's. I do have some coins I'd like to sell but am wary of where to sell them, any ideas?

I've seen a number of Great Southern Coin auctions and they appear to have some really nice coins for sale. You mentioned them in the video and I wondered what you thought of them.

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. *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

Mr. Dan is the absolute best dealer I know. And I know enough. I have NEVER,NEVER HAD ANY" & I MEAN ANY" PROBLEMS WITH THIS GUY & HIS SHOP. HE IS THE MOST HONEST DEALER YOULL FIND OUT THERE. AS LONG AS P.C.C IS UP & RUNNING, I WILL BE A COSTUMER.😎🤘

What you discuss is a difficult area. It’s buyer beware. This is why I don’t buy raw coins. Even so valuations can vary. Thanks for the vid!

I always go to PCGS website first to price coin. I don’t trust NGC as a grading service…But will buy a NGC coin if I think it’s worth it. The biggest issue is when there is a huge price difference in closely graded coins. And…if buying off of eBay, some larger sellers are getting creative with their photos of the coins. I’ve noticed a huge increase on eBay in the selling of rolls of “unsearched” Morgan’s. I tend to stay away from those because most have been searched and are mostly culls.

I absolutely agree & think it's fair that if you buy & get a great coin in a roll it's yours you don't owe the seller. It's part of the risk of buying a roll. You spent your money & time so it's only fair you are rewarded if a great find pops up! Happened to me last month I sold 5 coins then afew days later price jumped massively. I lost out on about $1,500 but that's just the way it is. The coin had its mintage changed by mint. It was an Australian coin and mint said alot less than they had first reported where actually made so price just sky-rocketed. It's not the person that bought its fault they don't owe. It's my bad luck. Yes I was passed off but that's life & part of the hobby! I have no ill will towards the the buyer I'm actually glad someone got an amazing deal & it was a bundle of 5 coins so it's probably a new collector so im glad this will inspire them to continue to collect which is good for all of us to grow the hobby which makes prices of all coins go up. So in the long run my good karma will come back to me. LOL

Wow thank you very much for this video! 🙏 new subscriber, and I'm jumping on your website now to make a purchase because you're worth supporting. The world needs more honest dealers. I went to my first coin show this weekend and someone tried to sell me a fake. I said let's put it on a sigma and if it's real I'll buy it... it didn't even register 🙃

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

I understand your dilemma No one was forced to make a deal. So good for you if you come out ahead.

DO YOU THINK THE SELLER IS GOING TO CALL THE 1ST SELLER AND SAY!! OH GUESS WHAT I SOLD THAT COIN I BOUGHT OFF YOU FOR $50 AT AU50, I GOT IT UPPED TO MS63, & SOLD IT FOR $350. SO I'M SENDING YOU AN EXTRA $150. JUST BECAUSE I'M A NICE GUY. NOT ON YOUR LIFE BUDDY! NONE OF YOU BUYERS SHOULD FEEL BAD BECAUSE YOU KNOW HOW TO MAKE MONEY IN YOUR BUSINESS. GREAT VIDEO BY THE WAY!!

I like the ads that call the coin: proof,gem,BU, all in the one title lol

I can't imagine expecting a coin dealer to take that risk if I have honestly looked it up and estimated a fair market value. The thing for me is the jump, sometimes is so big, from 90 to 3,500 +/- and I really have to be sure what I want to do. I guess that keeps It exciting, like winning the lotto???

Thanks for the common sense advice. I have several coins I am meaning to send out for grading. I have my own opinion on what I think they will grade at. I can't wait to see what the pro's grade them. Even if I don't agree with the grade a coin receives I get the experience of what the differences between my opinion and the actual grade the coin received. I've never sent a coin out for grading. I buy coins on how I personally like them. I've seen graded coins with high grades that I don't agree with, and just wouldn't buy. Crazy as it may sound I like collecting scratched coins that are otherwise beautiful. I can get a coin I otherwise could never afford.

I wholeheartedly agree with you. Never feel you should have to say something after the transaction.

Daniel, I'm perfectly OK when you are taking the risk, that you get the reward. Some of the grading price jumps are so severe that folks should seriously considering sending them off for grading, but if the coins are under $100 in value, it's kind of pricey to have everything graded. Keep up the good work and don't feel bad for making a profit.

Common or rare, I simply don't see why people are so gullible to pay multiples of premiums on coins that vary slightly in grade. The 1963 quarter Daniel showed prices for in MS66, 66+. 67 and 67+ shows the insanity of price spreads despite the population reports of 737 for a MS66 and 4 for a 67+. And that's just PSCG. NCG probably has additional examples that they graded. If someone is extremely rich and wants to have the finest known specimen of a particular coin and is willing to pay huge prices, that's his/her choice. Unfortunately, there's way too much greed in this 'game' people play with the grading services and each other. To the 'little guy' who can't afford expensive material and/or who is happy to have decent material of whatever he/she is trying to collect but is not interested in paying huge prices, it has to be frustrating for them to see this taking place as it still at the least indirectly affects the prices/availability of the material he/she collects. I truly believe the grading services have done a disservice to the average collector in regards to the examples of coins Daniel showed on this video clip. My only need for a top rated service such as PCGS or NCG would be for authenticity purposes only. I could care less what they grade it, I would just want to make sure it's genuine. Many people have simply given up on numismatics due to all the gray areas, ambiguities, arguments, etc. Numismatics should be an enjoyable, relaxing, educational and somewhat exciting hobby (thrill of the hunt). It should not be something that causes anxiety and anger because a few people are able to make huge sums of money, such as the first ones able to buy limited products from the US Mint while everyone else is shut out, etc. I am NOT saying that it's wrong to make a profit in this hobby. I'm saying it's wrong when people take advantage of others and that people do not educate themselves to keep from getting taken by others. In closing, I remember an old episode from the TV show Dennis The Menace. It was titled S01E15 Dennis And The Old Coin. It can be seen on RU-vid at ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-9nunu16JsSw.html It was the story of Mr. Wilson buying a 1907 $10 Indian gold coin with rolled edges and periods (a rare variety) for $250. This was in 1959. It was kind of hilarious and at the same time showed a proud man brought to shame. I won't say any more. Watch the episode and enjoy it.

That was a great video! I have submitted 8 coins twice to PCGS. The first time 50% of them were graded 'damaged,' 'cleaned,' or some sort of 'ding,' so to speak. The second time, I only had one that came back 'cleaned.' On the second run, I had a few that I was really pleased with the grades. So, perhaps I am getting better. I pretty much stopped buying ungraded coins on Ebay to be submitted by me later. I have bought so many coins that in some cases I may be unsure as to which dealer I bought them from, but for the most part I can identify my purchase through my e-mail history. So, there are certain dealers with which I was pleased on Ebay, but I still felt that some of them sold me coins that came back 'cleaned.' And, there are certain caveats or statements the dealers make that basically absolve them from the responsibility of selling coins later found to be 'cleaned.' And, I have seen videos of reputable coin dealers in shops that disagree with 'cleaned' designations. And, there is substantial cost in submitting coins to be graded (short version there). So, in the future, if I sell some of my non-graded coins, I will try to let the buyers know that some may come back 'cleaned,' since I have already seen that to be the case from that which I bought and submitted. So, after all the cost, I feel no need to back-compensate others. It is a risky enterprise (buying ungraded to get graded) and people who hope to get a price for a coin based on their subjective assessment and prediction of the grade are already a bit naieve. So, anyway, those are my thoughts. I really enjoy your channel!

Just to add, I learned quite a bit from watching your videos your doing a great job and I appreciate it! Thanks

I found a 1833 50c piece metal detecting it looks beautiful I see no wear and it looks to still have some mint luster has one little dark spot on it I didn't clean it where could I safely get this coin graded hate to let it out of my sight found it about 30 years ago have kept it air tight in zip loc baggie looks exactly as it did when I dug it thank you love your videos

The 2022 PF70 Silver Eagle (NGC) sells for about $200.00 I looked at the resell market (2016-2017) and it was selling for over $500.00. Good investment.

I agree with everything you said. Thank you.

great video Daniel thank you for the information 👍👍👍

Great video. Interesting. Your right, it goes both ways. Keep the profit.