Will I look like a noob whipping out a coin balance at the coin shop?

Discussion of the Gold portion of the Permanent Portfolio

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Sam Brazil
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Will I look like a noob whipping out a coin balance at the coin shop?

Post by Sam Brazil » Tue Jul 01, 2014 7:00 pm

Just curious...how common is it for someone to whip out a gold coin balance while at a reputable coin dealer's counter?
Libertarian666
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Re: Will I look like a noob whipping out a coin balance at the coin shop?

Post by Libertarian666 » Tue Jul 01, 2014 8:18 pm

Sam Brazil wrote: Just curious...how common is it for someone to whip out a gold coin balance while at a reputable coin dealer's counter?
I don't know how common it is but I doubt very much that they would get upset, and if they did, I would take my business elsewhere. An honest man won't mind if you check...
barrett
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Re: Will I look like a noob whipping out a coin balance at the coin shop?

Post by barrett » Tue Jul 01, 2014 9:44 pm

Sam, I think the important thing is not to feel like a noob. I suggest you do the research and let the rest of us know.  :)

Seriously, any reputable dealer should think it's fine if you want to make sure a $1300-$1400 coin is real. With all the recent concern about fake gold coins, I have been planning to get one of those balances myself.
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dualstow
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Re: Will I look like a noob whipping out a coin balance at the coin shop?

Post by dualstow » Tue Jul 01, 2014 10:52 pm

I pulled  one out at a local dealer once and asked if he'd ever seen one. We usually had good conversations, but his reaction in this case was weird.  at first he said something about it being "illegal." I laughed even though he didn't appear to be teasing.

"Besides", he said, "how do you know if this table is level?"
(He had a special free standing scale). I did not bring the tester back.

I use a dealer by mail now, but it's got nothing to do with that incident. 
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barrett
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Re: Will I look like a noob whipping out a coin balance at the coin shop?

Post by barrett » Wed Jul 02, 2014 7:37 am

If you buy a used car, you kick the tires, take it for a test drive and ask to see the maintenance record. If you buy a house, you hire a home inspector, ask a lot of questions about drainage, the neighborhood, nearby schools, etc. Regarding cheaper items ... If you buy a pair of shoes, you try them on first and you even read the first few pages of a book before you purchase it, right? The dealer looks like a noob if he/she objects to your little coin balance (I'd still like for you to do the research though and tell us your findings!).
stuper1
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Re: Will I look like a noob whipping out a coin balance at the coin shop?

Post by stuper1 » Wed Jul 02, 2014 12:54 pm

I've used mine at my dealer several times, and nobody looked at me funny.  I asked them if I was the only person who used one, and they said that lots of their customers use them.
Reub
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Re: Will I look like a noob whipping out a coin balance at the coin shop?

Post by Reub » Wed Jul 02, 2014 9:19 pm

How will you look if you don't use the coin balance and buy a counterfeit coin?
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Re: Will I look like a noob whipping out a coin balance at the coin shop?

Post by jco » Mon Jul 14, 2014 1:25 pm

What kind of coin?... The only fake I've seen is a kruger and it looked pathetic. I know there are some clever and good looking silver fakes but has anyone ever held a convincing gold fake?
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Re: Will I look like a noob whipping out a coin balance at the coin shop?

Post by StdDeviant » Wed Mar 15, 2017 1:51 pm

If I were a coin dealer and a customer brought out a balance to test the coin, I'd be happy about it, unless I were an unscrupulous dealer selling the customer a counterfeit coin! I would make sure they understood how to use the balance, and give them any other tips I could about telling real from fake. I would WANT my customers to be as safe as a possible, and to know how to protect themselves in the future. If I were a customer on the other side of this transaction, I'd feel a lot better about the dealer who behaved this way and would want to do business with them again.
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