The "Fifty-Seven Thousand Dollar" Dollar Debacle

[Dips]

As most of you know my husband, Mr. Dips, works on a coin store. As a business that buys most of their stock from customers, they have to deal with people who want to sell things.

It's a bit of a mine field. Most people think what they are selling is worth far more than it actually is. And, even when they do agree on the value, they don't understand that the store isn't going to pay full retail value for something they plan to resell. They need to make a profit. As always, if you are dealing with reasonable people, it's not hard to come to a fair agreement.

But some people are downright delusional.

Last Friday a woman came in. She had a Susan B. Anthony (SBA) dollar coin. She didn't state she was selling it or ask for an appraisal. She came right out and declared it was worth $57,000.

This took everyone by surprise. Nobody had ever heard of an SBA being worth that much. They were trying to be kind and offered to take a look at the coin and determine the value for her. Let her down easy, you know?

No dice. She refused to let them look at it; it was worth $57,000!

OK. So they asked her how she had determined the value. She looked it up on a web site (unfortunately, Mr. Dips didn't remember the name of the site; he thinks it had the word "heritage" in it) and it was worth $57,000.

Again, they tried to let her down easy and explained that SBAs are rather common and they'd never heard of one worth that much.

She came back with this gem, "You guys are kind of scaring me. You don't seem to know what you're talking about, dearie." That last bit addressed to the female co-worker who had initially helped her.

So they offered to show her the value book and help her value her coin; normally, they charge a lot of money for a straight appraisal (with no offer to buy). I don't know why they were still trying to get through to her. I would have given up and sent her elsewhere to sell it (if that's what she wanted to do).

Anyhow, the highest value for ANY SBA as shown in the book is $2000 and that's for one specific coin. From what they could see of the coin the lady had, and based on the year and date she reported, it looked like it was around $5. (Or maybe $5.70? )

Anyway, the woman would have NOTHING to do with the book. She refused to even look at it. Just repeated that some web site told her it was $57,000 and told the staff (who have over 100 years experience among them) that they don't know anything about coins.

Eventually, the boss stated that if she wanted an offer on the coin, he would have to examine it. If she didn't want an offer, she was welcome to leave and sell it elsewhere.

She didn't want an offer from incompetents, so she left.

And the entire staff disolved into giggle fits.

[Aethian]

*chuckles softly* I bet she had a debt that needed to be paid NOW.

[One-Fang]

I wouldn't have entertained her for that long either without "Lady, do you want us to buy it or not?" If she's selling it, they need to see it. If she's not, then get out - we don't care what you THINK it's worth.

[taxguykarl]

What was she smoking and did she bring enough for everyone?

Serioulsy though, did she actually expect to get her price sight unseen? Why bother the staff if she wasn't selling?

[Gurndigarn]

$57,000 for a Suzie? The one coin the US mint ever made that should be bought up in bulk by said mint and melted down into coins that are worth having?

[karma_gypsy]

I get those a lot as well.

People will come in and say that they paid $400 or whatever for their item a few days ago, that it's brand new, that it's worth twice that and that it's some rare/higher end/special edition/etc. item. They want $XXX for it.

I come back and tell them it's selling for $XX (basically, peanuts) on eBay and I would give them $X for it. Because, you know, I don't do my job for free and the bills won't pay for themselves.

That's when they pitch a fit in the store, going back to how their item is super special and they paid however much for it.

So sorry, but you could have gotten it on eBay for a song and I sure as hell cannot resell the item in the store for $XXX.

I try and let people down easily, but some just don't take it so well. I even mention to them that there is a pawn shop just down the street, in which we are not affiliated with. Usually, when there are people like the customer in the OP, we just send them on their way before all the employees are telling her she's a loon.

"Next ..."

[bloodrose]

Oooh. You see that all the time with comics. Most people don't realize that most comics aren't worth diddly. No, really, X-Men #1 isn't Uncanny X-Men #1 (by a difference of decades!). X-Men #1 might be worth $1 but people who aren't comic book readers constantly think they are on a gold-mine when they have that one. Or the guy who brings in a long-box of old 80s comics and thinks he'll get a mint for them and is lucky to get 10 cents a piece. And these guys get all pissed like you're trying to scam them.

[Crazeyal]

People don't understand the basic concept of collectables. Someone has to WANT it first. BTW.. Anyone want to buy Harbinger#1... Cheap??

[poofy_puff]

Some nut came in and gave everyone a free reality-tv episode. Sounds like you got a bargain.

[Skandranon]

X-men #1? I've got five of those. Three different covers. Pfft. The most valuable comic in my collection is an Uncanny in the 100's, and it's only worth about $20.

Thankfully for my budget, the comics I'm interested in are usually worth zip. I follow Gambit's story, so I couldn't care less about pre-1990. I have his first appearance: was a birthday gift. Still can't find Uncanny #350 (when he was abandoned in Antarctica). Grr.

[XCashier]

I used to see that nonsense all the time when I worked at the coin store.

I remember one winner brought in a novelty clock designed to look like an American Eagle Gold Bullion Coin, and he insisted that it was real gold!

Many's the time some schmuck has brought in his (for example) 1922 Peace Dollar that he's been carrying in his pocket since it was minted, rubbing it every day for good luck, jingling it against his keys and other change, sending it through the wash a few times, and he can't figure out why his beat-to-hell coin isn't worth the same price as the NGC-certified UNC 1922 Peace Dollar.

Not to mention someone who phones in and wants to know what their coins are worth, and can't understand why we need to see them first.

And there's this beauty: "Um, hi, I have this penny? And it's got these feathers on the back? Is it worth anything?"

[Gurndigarn]

Oooh. You see that all the time with comics. Most people don't realize that most comics aren't worth diddly. No, really, X-Men #1 isn't Uncanny X-Men #1 (by a difference of decades!). X-Men #1 might be worth $1 but people who aren't comic book readers constantly think they are on a gold-mine when they have that one. Or the guy who brings in a long-box of old 80s comics and thinks he'll get a mint for them and is lucky to get 10 cents a piece. And these guys get all pissed like you're trying to scam them.

Here's a question. I have a box of 80s comics, including a run of Uncanny X-Men from about 168 to 250 (or thereabouts.) In worn, but not thrashed to hell condition. I'ld like to get something for them. I know they're not worth a fortune, but most places I've talked to, if they do cash sales, pay roughly 33% of the going price. Is there any way other than ebay to get a better price? If not, is there any way to make ebay a practical choice, given their fee structure?

[RedRoseSpiral]

X-men #1? I've got five of those. Three different covers. Pfft. The most valuable comic in my collection is an Uncanny in the 100's, and it's only worth about $20.

Thankfully for my budget, the comics I'm interested in are usually worth zip. I follow Gambit's story, so I couldn't care less about pre-1990. I have his first appearance: was a birthday gift. Still can't find Uncanny #350 (when he was abandoned in Antarctica). Grr.

Hehe. I have the exact opposite problem. I have Uncanny #350 but can't find Gambit's first appearance. I did find his 2nd though. I got my comic guy on the look out for me since Ebay hasn't been any help.

[protege]

X-Men #1 might be worth $1 but people who aren't comic book readers constantly think they are on a gold-mine when they have that one. Or the guy who brings in a long-box of old 80s comics and thinks he'll get a mint for them and is lucky to get 10 cents a piece. And these guys get all pissed like you're trying to scam them.

Damn. I've seen plenty of idiots bring in boxes of old Lionel trains (usually their grandfather or father's) at hobby shops. These things are usually beat to hell, will require several hours of repairs or parts that aren't available. Worse, are the idiots who bring in their father's 1970s trains (most of which were truly shit--Tyco being the worst) and then can't understand that yes, that even though they are in good shape, nobody wants that crap. The hobby has moved on since then--the models available now are simply better. Finer details, better motors, more electronics (diesel sounds, whistles, etc.) As such, most shops won't buy that crap. They simply don't want something that's going to sit around for *years* before it sells.

[Dips]

I wouldn't have entertained her for that long either without "Lady, do you want us to buy it or not?" If she's selling it, they need to see it. If she's not, then get out - we don't care what you THINK it's worth.

Yeah, I wouldn't have either. I know Mr. Dips just found the whole thing funny; he wasn't very involved, though. I don't know what motivated the rest of the staff. I could have been anything from trying to help the poor dear, or morbid curiousity, or anticipation of seeing her face when the truth finally sank in (for the more sadistic).

Why bother the staff if she wasn't selling?

Honestly, I think she was looking for affirmation. A lot of people do that. If they don't hear what they want to hear, they can pretend it doesn't matter.

And there's this beauty: "Um, hi, I have this penny? And it's got these feathers on the back? Is it worth anything?"

Oh, yeah. That one is a classic coin shop question. I know you've probably read this old story from Mr. Dips' coin shop, but I'll link to it for others who haven't:

http://www.customerssuck.com/board/s...ead.php?t=3491

Is there any way other than ebay to get a better price? If not, is there any way to make ebay a practical choice, given their fee structure?

Yes. You get the best price by selling directly to someone who wants those items. However, finding a buyer is going to take time and/or money. You take the chance of not finding a buyer or spending more than you make.

Selling to a dealer is easy and convenient. You get less, but you've passed the risk of finding a buyer on to the dealer.

If you know that you won't get much for them, you also have the option of not selling them. If you think you'll read them again, just keep them. They'll give you more pleasure that way than whatever money you'll get.

Another option would be to give them to someone cool who you think might enjoy them. Do you know anybody deployed in the service who also has buddies who might also like some light reading material? Or maybe you know a cool kid who might enjoy reading them? You may find giving them away gives you more pleasure than whatever money you would get for selling them. If you donate them to a charity, you can also get a tax deduction (if you itemize and are in the US).

These are just may own thought. Your mileage may vary. I've had to get rid of collectible stuff and I'm usually lazy enough to opt for either selling to a dealer or just giving it away.

But that's me. I hate effort.