Coin Shows And Shops Vs The Internet?

Having been born during the Eisenhower administration, this newfangled Internet stuff was a bit of a task to adapt to initially. But from the moment it started, you could tell that it was going to change everything. That process is still happening - we're still sorting through and evolving what a place like Coin Community should and can be. Every day is still a surprise at just how much is possible with this amazing medium, and the only accurate estimate of what it's going to do to numismatics is that we haven't seen anything yet.

But it's a tide, and if you don't paddle with it you're not getting anywhere. A lot of dealers will be learning that lesson in the next few years. Small-scale brick and mortar coin stores aren't going to survive on their own without a city-size customer base.

I'll tell you a story scottk that I've told on this forum before. When I first started collecting I was 14 years old(1968). MY first real purchase was for 75 Morgan and Peace dollars for $500. I bought them from the local coin dealer who also became my mentor. These 75 Silver Dollars contained all the key and semi key dates including the 1893-S in Fine. I worked the whole Summer caddying carrying doubles for $10 a round (18 holes). You do the math, that was a lot of work. But I knew what I wanted and had been offered this deal by him....Since then I have always saved up money before I make purchases and I try to buy what I think is the best coin or usually multiple coins that seem like a good value and possible future realization of profit. I've always bought in person at a show or privately from coin collecting friends. I'm never in a hurry to buy coins as when I have been I've usually been somewhat disappointed. I tend to try to by higher graded coins when possible, I would rather have one real nice coin than 10 lower grade coins, this takes a lot of discipline, and hard knocks that I've learned along the way. This is my long term hobby and have been real satisfied with the results of my collection. I've also made many friends along the way.....With that said coin collecting is all about fun and each collector has to decide for themselves how they are going to approach this hobby.

I posted this coin in a different forum under a different subject line, but it seems appropriate here.

Here is a Gem Brilliant Unc beauty of a Morgan on your favorite auction site.



Let the bidding begin .......

Here is the exact same coin, in your hand at a coin shop or at a coin show.

Actually Denco, the second image you posted is on the internet also, not in my hand.

There's no reason to fear getting a bad coin from an honest seller if the pictures are clear.

The image I posted on page one of this thread is a coin I bought from my favorite ebay seller. The coins always show up looking exactly as they did in the pics. I wouldn't buy something from someone I don't know if the images left any doubt in my mind. And of course, on ebay, that's why there's "feedback".

These images I'm posting are from the sellers ebay adds.

Here's another...

You said something to the effect of "here's a coin on ebay" followed by a small picture, then "here's a coin in hand" followed by a large picture.

Just buy from sellers who post large pictures.

The second picture you posted is not in my hand. I'm looking at it on my computer screen - over the internet, and I can see it quite clearly.

I wouldn't buy the coin in the first pic you posted. I have learned to avoid coins that are described one way, but can't be seen clearly, but if a coin is imaged well, and comes from a good honest seller....

Where's the problem?

The ebay sellers I buy from post great big clear pictures, and give great attributions and descriptions.

3rd Example:

If I may please add in a few comments on this great thread. I love coin shows, I like visiting coin shops. I have bought coins online with some good results and some bad results. However, what I enjoy most about this hobby is the learning experience and I think if you limit yourself to an "online Hobby" you are going to miss out on a lot of amazing learning experiences. I have collected coins since I was in the third grade in 1963. There have been three "epiphany" moments in my collecting experience. First was learning with the guidance of one of the local coin shop owners to go after the key date coins in the best condition I could afford, it would always be easier to go back and fill in the commons ones. Until then I had done the opposite, filling in as many holes as I could and then struggling for the key dates. Second was going to a Long Beach CA coin show around 1970 and having it dawn on me...US gold coins were not rare or scarce, they were just expensive. Huge difference between "value/cost" and "rarity". Third was going to a small local coin show in Santa Barbara, CA and seeing a display of a complete set of Spanish Colonial Pillar Dollars (first coin in the RedBook) from the Mexico mint. I was floored, I had never seen anything like that in my life, that sparked a drive to study, a drive to learn and it turned into a life long passion that I still actively pursue 45 years later. The point to this ramble is all these events occurred out in the collecting world, exposed to other collectors and other collections. Buy all your coins online if you choose, doesn't bother me one bit. But if you are not out being exposed to the world of Numismatics by attending shows and visiting shops, I fear you are missing a big part of what could be. Go to a large show, make an event of it (my wife lets me plan vacations for me around coin events, marry well). Drive a couple hundred miles, stay in a motel, make an investment in your hobby and just walk around all the displays and be exposed to an incredible world of coins.

This is a pretty cool thread. I would definitely see Scottk's side of the story as I too am pretty young for a collector and have used ebay to buy the bulk of my coin collection. The main reasons for that, though, were:
1. Young and naive and knew the internet most of my life
2. Didn't have any coin shops within a 30 minute radius and as a teen wasn't going to spend that much driving for a possible $20 at most coin
3. (Probably biggest reason) ebay prices as an average seem to be lower than most coin shops I have seen.
Now that we have moved to Illinois in a city that has not just one but multiple coin shops it has helped me to broaden my coin searching. There is one shop I have been in a couple times and for me the price is a big factor (since my hobby is budgeted a small amount per month) and there are coins that the LCS does have that are cheaper than what I find on the bay. Some are not. For me it is finding the best prices for the greatest coin wherever I can. I definitely understand both sides of the thread though as last year I attended the ANA show in Chicago and it was an awesome experience for me (although like SuperDave has mentioned it had expensive coins and I felt awed but sad I wouldn't have any for a very long time)

I'm not against buying coins online but I do prefer to buy coins when I can see them in hand. Unfortunately I have yet to go to a coin show and I would love to if the opportunity presented itself. I do on the other hand go to my LCS at least once a week if not more. What makes it good for me to go there so often is that I am given the opportunity to see items before they hit the shelves and purchase something that appeals to me. The people working there know that I am always looking for something new so they will show me their newly acquired merchandise not only to strike a conversation but also to give me the chance to pick something up. Not to long ago I went in as usual and they had just got a lot of old silver and gold certificates from the 1930's. They weren't even done sorting them and I was given the opportunity to be the first person to look through them. I found a crisp clean $5 silver note and they let me take it home for $7. How could I refuse such a great deal? That's one of many experiences I doubt I will ever get from making an online purchase.