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Change From Your Local Coin Store

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 Posted 09/14/2023  5:55 pm Show Profile   Bookmark this topic Add Ynnad to your friends list Get a Link to this Message
Do you ever get cool coins in your change when you make a purchase at your local coin store? Today I got a BU 1967 dime, a BU 1978 dime, and a BU 1977 quarter. Nothing really spectacular or particularly valuable but still pretty neat. I may save them just because I can. I have received similar stuff in the past from different coin stores.

Have any of you all had a similar experience?
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 Posted 09/14/2023  5:59 pm  Show Profile   Bookmark this reply Add Hondo Boguss to your friends list Get a Link to this Reply
Yes, every good LCS does this. I've gotten IHCs, Bison nickels, wheaties, etc. It's just a little something extra or "lagniappe" as we say here in Louisiana.
Inordinately fascinated by bits of metal with strange markings and figures
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 Posted 09/14/2023  6:30 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
Yup.
John1
( I'm no pro, it's just my humble opinion )
Searched 6.5 +/- Million Cents Since 1971
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 Posted 09/14/2023  7:07 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Same. Our LCS gives out wheats, buffalos with partial dates, and $1 Silver Certificates in change.
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 Posted 09/14/2023  7:27 pm  Show Profile   Bookmark this reply Add mrwhatisit to your friends list Get a Link to this Reply
My best change back from a LCS was a 1979-P near date Susan B Anthony dollar in AU-58.
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 Posted 09/14/2023  7:50 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
My coin shop would give out VG/F silver certificates and red seals
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 Posted 09/14/2023  8:22 pm  Show Profile   Bookmark this reply Add Hondo Boguss to your friends list Get a Link to this Reply
Most of these are of marginal value over face, but the customer leaves excited over their "finds". This has been a LCS strategy for years - low cost, happy customer that returns.
Inordinately fascinated by bits of metal with strange markings and figures
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 Posted 09/14/2023  8:36 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Yes, that's been my experience as well.
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 Posted 09/14/2023  9:21 pm  Show Profile   Bookmark this reply Add Hondo Boguss to your friends list Get a Link to this Reply
How many of us "normal" collectors have an accumulation of coins or bills that, while cool, are just taking up space?
Now imagine if you owned a LCS. Why not give these low-margin items to customers? You're not really losing much (if anything at all) over the cost of listing/selling online, and you make your customers happy. It's a really good business model.
Inordinately fascinated by bits of metal with strange markings and figures
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15401 Posts
 Posted 09/14/2023  9:22 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
If a coin dealer has trouble shifting certain coins for much more than face value, then actually using them as face value with your customers is better than just sending them off to the bank, or having them sit there unsold on the shelf.
- The customer of a coin store might like them and will certainly appreciate them more than the customer of some random business being given "funny money" in change;
- The coin dealer's bank may give them hassle over depositing non-normal or obsolete coins and notes.

As an example of that latter point: Here in Australia, in 1988, the government issued a NCLT commemorative $5 coin. We don't normally have $5 coins, this was the first such coin we'd ever made and these things were large, slightly bigger than an Ike dollar. They were distributed through the then-government-owned bank, for face value. Several million were made and distributed, but there aren't several million coin collectors in this country - so there's virtually no collector demand for them - especially given that the bank distributed them in PVC flips, ruining many of them that lived in the flips over subsequent decades in the hot Australian climate.

Dealers here often offer them in change to their customers (though many people refuse, because they already have one and don't need more). Dealers tell me they try to bank the surplus, but banks don't want the hassle of handling NCLT (the bank is obligated to return such redeemed NCLT to the Mint for destruction; there's lots of paperwork they need to file when they do this).

Coin dealers here also often offer obsolete paper money (actual paper, not the polymer our current notes are made of) in change, for much the same reasons.
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 Posted 09/14/2023  9:24 pm  Show Profile   Bookmark this reply Add NumismaticsFTW to your friends list Get a Link to this Reply
1967 40% Kennedy
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 Posted 09/14/2023  10:33 pm  Show Profile   Bookmark this reply Add Aurelius to your friends list Get a Link to this Reply
My LCS always gives interesting change. I have recently received Ikes, Kennedys (no silver), Susan B, and mint dollars. I pay in cash with a big bill so I get lots of change!
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 Posted 09/15/2023  11:11 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Not the LCS, but a coin show dealer would give out star notes and old banks notes (including some United States Notes and silver certificates) in his change (especially to the YNs). Keep in mind, the star notes were high runs and the old notes were rough enough to erase the premium, but they were nice enough to spark interest or a conversation.
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 Posted 09/15/2023  4:20 pm  Show Profile   Bookmark this reply Add jpsned to your friends list Get a Link to this Reply
I've never thought about this before. What a nice, fun way to keep a customer coming back.

My LCS is a tiny place only open a few days a week. Last time I was there, I mentioned to the owner that I hadn't gotten any 2023 quarters in circulation yet. He reached into his change drawer, fished one out and gave it to me. For free!
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 Posted 09/15/2023  4:50 pm  Show Profile   Bookmark this reply Add Hondo Boguss to your friends list Get a Link to this Reply
Got a Bicentennial half in change from my LCS today!
Inordinately fascinated by bits of metal with strange markings and figures
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 Posted 09/15/2023  11:17 pm  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
I've not experienced this with LCS change, but a coin I bought off ebay a few years ago came with vintage stamps for postage, and then I got on their mailing list and their catalog also came plastered with vintage stamps. I recall their name was Miller Stamps & Coins or something.
Edited by kbbpll
09/15/2023 11:18 pm
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