Some Australian coin dealers

Discussion in 'Sovereigns' started by Aussiesovereignfan, Feb 9, 2016.

  1. Aussiesovereignfan

    Aussiesovereignfan New Member

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    Hi all:

    I just want to express my frustration about some Australian coin dealers who don't want to accept reality when it comes to current coin prices.
    They maintain exorbitant prices on some rare coins when the current market dictates otherwise.
    There are but a few coin dealers who are really aware of the current market prices and subsequently sell their coins at a fair price. Unfortunately, the
    majority live in their own imaginary world and are reluctant to adjust the prices accordingly. They'd rather tell you the coin has been already sold rather
    than sell it to you.

    Disappointed.:(
     
  2. serial

    serial Well-Known Member Silver Stacker

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    Lol , if you don't like it then get the coin from elsewhere, if you can't then you either pay them what they want or live without it.
    Its really simple, that's how the market works and how market value is established. Eg supply/demand
     
  3. Aussiesovereignfan

    Aussiesovereignfan New Member

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    Hi Serial:

    The problem is that the market says one thing, but the sellers still want to artificially manipulate the demand. My question to you is whether vendors have the right to manipulate the market price and if so by how much.
     
  4. silverbait

    silverbait Active Member Silver Stacker

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    Vendor can only manipulate paper market. Physical is completely different. That is why people on this forum will be offering same coin or bar mch cheaper. Things to consider when buying from dealer? They don't get rent subsidy or spot price insurance. They pay all their taxes rent etc etc etc and business is there to make a profit.
    At the end of the day if they can't sell it they ll lower their prices or go out of business. I don't agree with you on that sorry
     
  5. silver kook

    silver kook Active Member

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    It is up to the dealer what price they set. Buyer has choice to say yes or no. Don't like the price don't buy.
     
  6. HudsonDesign

    HudsonDesign Active Member Silver Stacker

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    See I don't see the logic in that argument.

    If the "market dictates otherwise" meaning that the market says the coins are cheaper, buy them from the market.

    If you can't buy them from the "market" and the cheapest, or only, place you can get the specific thing you are looking for is from the dealers you mention then, to me at least, their prices are completely justified aren't they?

    A purchaser will go wherever is cheapest most times and if a dealers prices is exorbitant then they wont be able to sell anything, and eventually, will need to drop their prices to meet market, just to pay their bills and feed their families.

    But if there is no-where else cheaper to compete with, then they can obviously set their own prices.

    I guess to me I don't really understand your statement.

    If the "market" is selling them cheaper, buy them from said place and your problem is solved, no???
     
  7. serial

    serial Well-Known Member Silver Stacker

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    explain to me how they can manipulate demand?
    they cant put a gun to your head and force you to buy a coin can they?
    if the price they are asking is to high then go get it elsewhere
    if you cant then you can either pay their price or live without it.
    if you pay then demand has meet their price and market value has been established.
    if you don't then market value hasn't been established unless someone else buys it
    in no way are the dealers manipulating the market unless they "fake "sales or force people to buy coins
     
  8. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    If you don't the headache, then there is a forum called silverstackers.... Where you can buy/sell without the BS... But don't winge if you price 'em too high and no one buys it.
     
  9. Aussiesovereignfan

    Aussiesovereignfan New Member

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    Yes, sure. Nobody is putting a Gun on my head. But have you heard of the word :"collusion?
    Perhaps the market is to small for this Kind of thing in the numismatics world, but it does exist in the car fuel, and pharmaceutical industries.
     
  10. scrooged

    scrooged New Member

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    You make sense, but so does serial. Just collude along and play the game, worrying about the moral high ground will only give you lines.
    Collude along, don't be end of the line and you're sorted.
     
  11. serial

    serial Well-Known Member Silver Stacker

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    I think you are missing the point, collusion or not no one is forcing you to buy the coin at an inflated cost. Find one from elsewhere and enjoy the hunt or pay the dealers what they are asking and let them earn a living
     
  12. HudsonDesign

    HudsonDesign Active Member Silver Stacker

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    I still don't understand at all.

    If you say the "market" has them cheaper. Which market? Where is it? and why do you not just buy from the "market" and ignore the dealers?
     
  13. wwwww

    wwwww Member

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    They have the right to manipulate the market as much as they can afford but market forces will ensure it will be their undoing. There are numerous historical examples, the most notable for us here is probably the Hunt brothers' manipulation of the silver price. More recently, pre-55 proofs and banknotes were manipulated by a few businesses - how did they turn out?

    It's not artificial demand, it costs money to hold a coin so the demand is just as real as if a collector were to hold the coin. It bad business though, if they sell based on their cost prices rather than true market prices they end up selling anything that's under market and end up stuck with the coins they paid too much for. In a bull market the problem solves itself but in a bear market they end up with cashflow issues as we've seen with a number of dealers in recent times.
     
  14. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    "Market" = alibaba
     
  15. HudsonDesign

    HudsonDesign Active Member Silver Stacker

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    Lol jeez I hope not.
     

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