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Frustrations With My Local Coin Shop...

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Pillar of the Community
United States
2562 Posts
 Posted 06/28/2013  11:11 pm  Show Profile   Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply
Dang, I'm taking notes as fast as I can!


Quote:
...I stopped by my local UPS store to pick up some printing and I noticed a typical "We buy gold and silver" joint. Just out of curiosity, I walk in and ask the gentlemen behind the counter if they sold silver. I told him that I was simply a coin collector and wondered if anyone ever sold them old silver coins. He said they did so I asked him, a guy who primarily only BUYS gold and silver, if he would ever let me pick through any old coins they had come through to buy for my collection. I was expecting him to just brush me off and say no but he actually got a big smile on his face, threw down a pad of paper and told me to put my e-mail address down and whenever they got any old coins in, he would simply e-mail me and I could come in, search them AND he would sell any coin regardless of date or condition to me at spot plus their commission so the business makes a profit...


Dude, very well played!
Pillar of the Community
United States
2991 Posts
 Posted 01/03/2021  4:38 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
This is a great thread--unfortunate it went to sleep in '13. Wondering how we feel about local coin shops today? I've had mixed experiences--most similar to what's been posted above.
Pillar of the Community
United States
3086 Posts
 Posted 01/03/2021  4:54 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I have about 6 coins shops within 30 minutes of me. I regularly do business with 2 of them, the other 4:
1) Had a limited selection, great guy but mostly he has what I would consider lower priced items. If you are starting he was really good.
2) One up north from me had everything I ever wanted/needed. Everything was painful to buy. I purchased a few items and never went back.
3) Another has a fairly limited selection, but he is in a very wealthy part of the state. He sends out a bulletin on Thursday with the items he gets. The prices are crazy good. BUT I am competing with every wealthy collector in the state. I purchased the below note at a CRAZY low price. That was the only item, I have been able to buy as everything was sold out in a few hours/minutes.
4) The last one has a large presence on the bay. If you shop locally you get better prices. I've picked up a few items. No complaints.

So out of 6 shops, 4 are very good, 1 is ok for a beginner and the last I wouldn't recommend. But there is one that I do the most business with. I get GREAT prices, he holds items for me and calls me whenever he gets new items. I've picked up items, within an hour of him buying it (some things he has to hold for a few days due to the law, and he will put those on the side for me). So I would rather deal with coin shops than Ebay. But I have purchased items from eBay.


Bedrock of the Community
Australia
18141 Posts
 Posted 01/03/2021  5:21 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
What I find frustrating about coin shops generally is that the bulk of the the items for sale are proof or mint set NCLT, which is not my area of collecting. From a numismatic viewpoint, I find them (mostly), to be a poor investment.
If that is the way they have to make a living, then so be it.

I am more likely to find interesting things at coin shows
Problem with coin shows is that they are no more, until we find a way around COVID-19. Numismatic frustration here for me as well. I will get back into cheaper coins that suit my sort numismatic interest, when the coin shows start up again.

So instead, I bid occasionally at public numismatic auctions.
At least, I get to catch up with some of my numismatic friends at the view days, which is a sort of alternative of not being able to attend coin shows.

-----------------------------------------------------------------------------------------------------------------------------------------------------------
To lessen the frustration, I have taken to searching pocket change for commemorative coins only, because they are obviously easy to spot. This part of my collection now numbers around 250 pieces.
At least it keeps my collecting interests going during CV-19 shutdown.

Also tend to spend a little more time here in the CCF.
Valued Member
United States
202 Posts
 Posted 01/03/2021  8:43 pm  Show Profile   Bookmark this reply Add PNWType to your friends list Get a Link to this Reply
I've got two local shops that I frequent.

One is staffed by two guys, the older of which just isn't nice. It makes it a chore to enter the store because he makes me feel like I'm taking up space and bothering him. I don't even ask a lot of questions, I know what I want and what it should cost, so I just ask what they have and what their price is.

A different local shop has a really friendly vibe. I like going there. The dude that works there treats all his customers nicely and he knows his stuff. I made this shop my main go-to and whenever possible I avoid the first shop even though it is closer to my home. I enjoy the hobby and like the feel of coin shops, so if there's one that I feel uncomfortable going in, there's just no point for me
Valued Member
United States
104 Posts
 Posted 01/04/2021  09:30 am  Show Profile   Bookmark this reply Add EDM to your friends list Get a Link to this Reply
I had a favorite coin shop I went to regularly when I was just out of high school. Then I went to college and moved to another state. Twenty (20) years later I am back in that city and I stop in to the old shop. Same owner, called me BY NAME and said, "Hey I havn't seen you in a long while, what'd you do, get married?"
Pillar of the Community
United States
612 Posts
 Posted 02/13/2021  8:32 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
I went to visit two local coin shops over the last couple of months and wasn't too impressed.
One is staffed by an elderly chap who is very friendly, but his tiny shop is a bit chaotic (boxes and trays of coins every where) and he sells mostly low grade stuff and modern coins. Not really my thing.
The second store has a much larger selection and is well organized but again mostly low grade stuff and modern coins, in addition to lots of silver and gold bullion. The owner is rather curt and orders his wife around to retrieve coins and show them to customers.

I might go back to these stores occasionally, or more often if I ever start to collect modern coins, but for now I will stick mostly to online stores and auction websites.
Edited by NumisEd
02/14/2021 1:21 pm
Valued Member
United States
307 Posts
 Posted 02/14/2021  1:08 pm  Show Profile   Bookmark this reply Add captaincoffee to your friends list Get a Link to this Reply
The one in my area is pretty much like the original poster talked about. Grumpy and put off if you don't immediately purchase a Morgan at inflated prices.
With that said, I absolutely agree that coin shops should not be expected to let you cherry pick through their junk silver for hours. I don't think it would be hard to find a happy medium where you were nice to customers and laid out the rules of how you want to run your store.
Pillar of the Community
United States
2991 Posts
 Posted 02/14/2021  1:38 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Imagine if Costco had a coin section, just an aisle over from the frozen food cases.
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United States
96136 Posts
 Posted 02/15/2021  11:52 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Imagine if Costco had a coin section, just an aisle over from the frozen food cases.


Had a dream last night that a local bookstore created an entire section for brand new Dansco, Littleton, and Whitman albums.
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