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 Replies: 55 / Views: 7,227 |
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Bedrock of the Community
United States
20753 Posts |
There is a lot of coin stores around me and just never thought of checking them out since we have so many coin shows. So yesterday I typed in coin stores for my state in Google and came up with a lot of them real close by. So just for a test I tried a few of them. The closest ones to my house.
The first one advertised on the internet hours 9AM to 6PM. Got there and sign in the window said hours 1PM to %PM so I left since it was 9AM.
Second one I tried was really, really small, had a large sign out front stating we buy Gold. They had less coins for sale than I have at home.
Third one I tried was closed with no info on the door.
Next was a pawn shop that advertised coins for sale. Went there and they had only some beat up Silver Dollars for rediculous prices.
Think I'll stick to coin shows.
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Valued Member
United States
307 Posts |
The old coin shop was like the barber shop. You enjoyed the conversation and received the benefit of quality friendship. This all ended when money became the prime motivation in a persons life. I too had a need that required immediate cash. I turned to my collection and the local coin shop and was very suprized  to learn that my collection was worth 30% of Blue Book value. I was forced to ask a friend to sell my part of my collection. He sold all the coins over Blue Book value.  I was charged a 15% commission and still received more than Blue Book. The coins were sold on ebay and I received payment in 20 days. I now belong to several clubs and forums trying to keep up with the times. The old coin shop may be a thing of the past.  |
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Valued Member
United States
61 Posts |
As a person looking to open a coin shop in the next few months I sure wished I was surrounded by dealers like the ones you mention; I think I'd do pretty well with 12 years of customer service experience. Unfortunately, my competition sounds NOTHING like what you guys describe. We (my competition would be the store I work at now) don't close early, we don't open late, and we don't see pigeons walking in the door. I fully agree the future of crappy brick and mortar shops is in doubt. But I added a word.
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Valued Member
Finland
294 Posts |
Nowadays it's one kind of luxury to have a human being in front of you despite what services or products you are buying. When I'm visiting in my local coin shop I buy just accessories or few coins from a bargain bin but nothing high end stuff.
I usually buy my coins from second hand shops and flea markets, which are much cheaper places to buy coins than coin shops are.
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Valued Member
United States
85 Posts |
As I pointed out earlier. This has to be a major boon to TPG's. Practically everyone knows the only assurance you have on any purchase is the slab. I mean, we all buy the coin not the plastic, right ? But, the overhead, lack of inventory, etc compared to on-line shopping and auctions has just about killed them I think. For many of us that are homebound, it's a boon in a way. I can shop the entire world for their inventory, compare prices, order coins or supplies and have it placed on my front stoop. With books, clothes, food and everything else. I truly feel brick and mortar shops are soon to be obsolete in nearly every aspect of trade. Even supermarkets offer online shopping and some deliver ! The convenience is great, and the latest generation is more accepting of it and it will naturally just become a part of their lives. IMHO |
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Bedrock of the Community
United States
20753 Posts |
Quote:
The old coin shop was like the barber shop. You enjoyed the conversation and received the benefit of quality friendship. This all ended when money became the prime motivation in a persons life. I too had a need that required immediate cash. WOW is that ever true. That made me remember way, way back when I was a kid and there was a coin store near me called Casy's. Even though I was a kid I could go in there, talk to the owner for a long time about coins or anything. I remember other customers coming in and doing the same thing. Darn, sure wish I could find a place like Casy's again. |
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Valued Member
United States
162 Posts |
Quote:
WOW is that ever true. That made me remember way, way back when I was a kid and there was a coin store near me called Casy's. Even though I was a kid I could go in there, talk to the owner for a long time about coins or anything. I remember other customers coming in and doing the same thing. Darn, sure wish I could find a place like Casy's again.
You have found a place like Casy's, it just isn't a physical place, it is an internet forum. It isn't just TPGs and e-bay that impact the B&M stores, forums such as this one that let you meet and talk with hundreds of other people who are interested in coins also reduce the need for having a physical place. I wonder how this affects coin clubs. |
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Valued Member
United States
397 Posts |
What's a coin club?
Well, let me rephrase. Where would one find a coin club - because I haven't seen one that actually meets. Back in the day, sure - but now?
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Valued Member
United States
186 Posts |
Wow, not sure I want to get into this one.... I have a B&M coinshop.
Last year I just expanded/remodeled. Now 5100 sq ft. I love my customers (even the cranky ones).
I try to make the place like "cheers" where everybody knows your name..... funny most of my customers are John Doe (privacy issues).
Well go ahead guys... let me have it......
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Valued Member
United States
307 Posts |
I posted on this topic previously. I just returned from a stop at my coin shop. The discussion was concerning ebay and two previous owners of the shop. Both of them continue to buy and sell coins but from there home. They have a client base and continue buying and selling. The present owner admits that he feels that the previous owner had planned all along to continue in business. The sales volume indicated when the sale took place did not continue. However he has made a success of the store by adding other buying opportunities in antiques. Most of his coin sales begin over the phone or inter-net there are a few walk ins but usually they want information on value of a coin they have. Some buying and selling takes place. You must consider the inter-net as a threat. Good Luck |
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Pillar of the Community
United States
539 Posts |
waredu
there are still coin clubs (I confess I do not attend any meetings) but there are like 3 or 4 in my general vicinity. No shops worth a darn but clubs!!
I just did a google search on 'my city name' coin club. Got a hit and found out it is still around (like a bazzilion years now)
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Pillar of the Community
United States
539 Posts |
my only complaint about coin shops is that there are none in my area that I've found that either care or carry anything for a common coin collector. What I mean is I can find plenty of expensive silver (or other precious metals) but try and find a nice 1965 anything foreign is not possible. And I guess I get that because it costs to much to turn a few dollars worth of coins vs. turning a $200 Morgan. But like I did when I was heavily into stamp collecting, I spent a lot of $4 trips into that store.
And I will ask again, if someone knows of a coin shop in San Jose, CA (yep, I live there) that has something other than a 'junk' box of dark side, let me know. In fact, if you know they have a 'junk' box of dark side and really don't mind if that is all you are interested in, then let me know about them as well.
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Pillar of the Community
3660 Posts |
Quote:
I started to wonder if we, as collectors, have a responsibility to the local coin shop. Not a responsibility out of guilt, but perhaps a responsibility out of passion for this hobby we love. Quote:
A coin store must pay for rent or a mortgage, water bills, phone bills, gas bills, electric bills. Then they have building maintenance such as furnace or A/C, sidewalk shoveling or cleaning. Window cleaning and numerous other items and all out of profits from coin sales. Then there is that other one small item called food and supplies for their families and again, all from the sale of coins? The two most important quotes of the thread IMO. What would be the consequences of the disappearance of the B&M ?..... A lot of folks are already finding out. The same fate awaits many of the online dealers as well....competition is very, very tough for all businesses right now. The B&M is like any other business, the small time farmers are gone. Only thousand plus acre farms remain, the five and dimes are gone, only Walmart remains. Either grow or disappear, and in order to grow, efficiency must rule, and if efficiency equates to personality as well as knowledge and inventory, then so be it. CEOcoinshop sounds like he is on the right track with his business: Quote:
I have a B&M coinshop.
Last year I just expanded/remodeled. Now 5100 sq ft. I love my customers (even the cranky ones).
I try to make the place like "cheers" where everybody knows your name..... funny most of my customers are John Doe (privacy issues). My sincere wishes for continued success CEO, stay your course. If the B&M is to survive, the collector as well as the dealer must take responsibility for that survivability. Dealer and collector are entwined in a symbiotic relationship, they depend on each other, they need each other. With the closure of each small B&M, the options of the collector become smaller and smaller. Eventually, a time may come when there may be only online 'superstores' left, with little personality, poor customer service, little competition, and the means to set the values on pricing. (And no, I am most definitely NOT a dealer). (Just a dreamer).  |
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New Member
China
2 Posts |
Buying coins through a brick-and-mortar store has many advantages over ordering online. The customer sees and handles the coin, and can ask questions and barter in person without the lag time caused by answering emails or voice mails. It is a lot harder to open a retail store than to set up shop online, but the rewards of talking with customers in-person is an advantage for some coin dealers.
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Valued Member
United States
450 Posts |
The big problem with some local coin shops is , they just don't have any selection when it comes to coins. You either have to go to a coin show or ebay. |
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Replies: 55 / Views: 7,227 |
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Posted 08/18/2010 1:58 pm
