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 Replies: 22 / Views: 2,495 |
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Bedrock of the Community
United States
10284 Posts |
I never worked in a coin shop, but sold many coins in my own Antique shop and have been a dealer selling at coin shows with a table or two on a few occasions. I have been a dealer working the floor in a couple co-op malls where some of the dealers had a good number of coins, but I never was alone in a shop behind the counter exclusively selling coins. Once in awhile, I could pick over the underpriced in Antique shops, but find they are often overpriced and/or misgraded by dealers.
Edited by TNG
06/29/2009 12:12 pm
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Pillar of the Community
 United States
528 Posts |
DNA is right on. I feel so bad sometimes telling people their coins are worth nothing. They try and look them up in the Red Book and then get angry at the price I give them. So many coins are so common we have to pay a lot less then they are worth because it just sits in stock. |
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Pillar of the Community
United States
580 Posts |
It wouldn't bother me trying to explain things to people that have no clue, but if I had to have the same type of conversation several times a day, every day, all week long, I might go completely nutso. The most common kind of conversation, for example, would have to be telling someone that comes in with a "really really old silver dollar from 1921" that you can give them $11 to $12 for it based on current silver value. Then I would have to listen to them groan about how I would be ripping them off because I would turn around and sell it for $50, $100 or even more.
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Pillar of the Community
United States
6326 Posts |
Voted a resounding.... NO ......same reason I could never work at a good steak restaurant.
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Pillar of the Community
United States
528 Posts |
LOL
its not that bad. I only spend about 25% of my paycheck at the store.
(I think thats why he likes me working there)
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Pillar of the Community
United States
2734 Posts |
You see a lot of people trying to sell their coins if you're a frequent customer of coin shops. One local dealer (who sells tons of Morgans) seems to be 'plagued' with lots of people trying to sell them overgraded 'junk-slab' Morgans that they think are worth PCGS/NGC money!  This dealer won't sell Morgans in junk slabs, so even if they do buy one, they'll break it out and sell it raw. (another case of 'buy the coin, not the holder'!) They like customers like me, who buy silver dollars raw, know how to grade the coins themselves, and most importantly would have read the Greysheet (or at least the Blue Book) before trying to sell them anything!  |
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Pillar of the Community
Spain
1361 Posts |
I wouldn't want to work in a coin store, my salary will all go to the coins I see everyday especially if given an employees discount.  |
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Moderator
 Australia
16862 Posts |
I've done the occasional helping out with coin IDs, much like I do here on the forum. I don't get paid for this "work", except perhaps with a discount off my next purchase, so I wouldn't call it "working".
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
2734 Posts |
Another 'pet peeve' for a dealer would be when a customer says that you overgraded a coin. Example: The dealer grades a weakly struck Peace dollaras "XF-40". A customer accused them of overgrading the coin. The dealer sends it to NGC, it comes back "XF-45". The customer then said that NGC overgraded the coin, too! I see this slabbed coin, and I say "That's not very good looking for XF-45, what a weak strike!" The dealer said "At least you know what a weak strike is!" and then he told me the above... |
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Bedrock of the Community
United States
20753 Posts |
I'd never want to work in a coin store or any store that buys and sells anything to the public. When I was a kid I worked in a grocery store and that was enough. Dealing with people all day must make a person a little nuts since so many of them are nuts.
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Rest in Peace
United States
1729 Posts |
I can just see eaglefoot trying to charge a premium for rare steaks ...
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Pillar of the Community
United States
2734 Posts |
A raw steak is "MS" (moo state), rare is "AU", medium rare is "VF", well done is "VG" and they go down to "AG" (overcooked).
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Pillar of the Community
United States
3294 Posts |
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Pillar of the Community
United States
6326 Posts |
"ME" working there, "steak restaurant", would never involve "aftermarket sales".....it wouldn't get that far !  Just like how I've never sold a coin in my life....I would never sell a steak either !.....it's for my own consumption ! Working there would just involve me eating my own salary ! Rarer MS varieties would go great with horseradish and red wines....  AU's would go great with ice tea....... and so on and so forth ! ....  How could I ever "sell something" that I want for myself ? (even if my own livelihood depended on it, the temptation would be far too great !)Edited by eaglefoot
07/01/2009 11:53 am
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Valued Member
United States
110 Posts |
I've worked at a few stores, and by far, the best ones are the ones that are store fronts for dealers who mostly sell through the mail/internet. Walk-in sales and purchases aren't too common, and they are generally handled by the owner. Also good if he only purchases by appontment. My best coin job was working in the back of one of these establishments, and my main job responsibilities were to catalog new purchases, pull coins for orders, and sorting of his inventory boxes. I also was lucky enough to drive to his bullion dealer when he needed to replenish his stock. He did some foreign exchange as well, but most of it was through certain dealers who took everything, but could only really work with the major currencies. He somehow came a cross a HUGE amount or Turks & Caicos currency, and made a deal that not only made him money, but allowed him to send one of the other employees (still bitter it wasn't me) to Grand Turk island for a week vacation, flight and room paid for, without hurting his profit margin. Coin stores can be a fun place to work, but especailly if walk ins are low in quantity.
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Posted 06/29/2009 2:44 pm
