| Author |
 Replies: 21 / Views: 3,589 |
|
Valued Member
United States
199 Posts |
Today, I made my bi-weekly circuit of the LCS's in my area. Today's goal was to buy silver before spot raises any higher. My first stop was Belmont Coin & Jewelry in Dayton, Ohio. Upon requesting to see the bin of foreign silver coins, the salesman scoffed and pushed the bin of $.10 common foreigns at me. Whatever, not a big deal. I pulled a few out, and then moved on to the next salesman and again requested to see the silvers. Here's where things get really interesting. I pull out a couple of beaten up coins in flips reading low values such as $1.50 and $3.00. I hand my stack of coins to be purchased to the salesman. He looks at me, down at the handful of silver, back up to me, and then says that I can have these coins (clearly labeled at $3.00, etc.) for $12 apiece. I told him that I didn't want them for that price, so I told him to ring up my 6 coins from the ten-cent bucket. He charged me $2, for what clearly added up to $.60. I coughed up the $2 to avoid making a scene and left on my not-so-merry way, vowing never to return to Belmont Coin. My theory is that the salesman tried to pull one over one me, assuming that because I'm only 18, I had no idea what I was doing (quite opposite, in fact)   Thoughts? Did I read him wrong and leap to conclusions? Have you been wronged while attempting to buy coins? Any ideas on how to avoid another such episode in the future? Any and all input is appreciated. |
|
|
|
Pillar of the Community
United States
7375 Posts |
The only thing you did wrong is pay $2 for .60 worth of coins. At least it was an inexpensive lesson.
|
|
Valued Member
 United States
199 Posts |
At the time, I figured getting the heck outta dodge without losing my temper was worth $1.40
|
|
Pillar of the Community
Canada
5417 Posts |
Hmmm.... in my years of seriously collecting, I've seen many coins. Grossly Overpriced, problem coins marked as problem-free, overpriced. But what you're describing, is just outright sleezyness. I don't think anybody would think their customers were so stupid as to pull something like that, I think there may have been a misunderstanding. Either way, best to avoid that place in the future.
|
|
Pillar of the Community
United States
1314 Posts |
Good move Bob. For $2 you got a million dollar insight. If I lend a man $20 and never see him again, it was probably worth it.
I've worked as a trade show vendor (not in coins) doing 6 tables per show, 52 shows per year.
At one particularly slow show, I had plenty of customers. Valued, repeat customers. An unpleasant competitor, insinuating misconduct remarked, "Why do you have all the customers?"
I responded, "While you were learning the tricks of the trade, I was learning the trade."
I've met so many great coin dealers, that there is just no reason to give your money to one that treats you badly. We all have to pay for our education, maybe at the University, maybe school of hard knocks.
You won't always be satisfied with $2 purchases. I've seen $3,000 deals go down in less than a minute. Thirty seconds later, same customer and dealer repeat for another $3K. Second time the merchandise was not even examined.
I had to earn my customer's trust, but when I did, I earned their repeat business.
I like those relationships and keep them with my Doctor, Lawyer, Dentist, Optometrist, Accountant, Mechanic, Grocer, Plumber and Barber.
Much of what is wrong with our current state of affairs, is that people have come to expect shoddy goods and poor service. Yes, the opposite extreme exists - people wanting something for nothing. But you should be getting what you pay for.
Just my 2¢ worth.
|
|
Valued Member
United States
199 Posts |
ed, zxcccxz, Chute, your input, as always to be expected from this community, has been invaluable. Thank you all.
|
|
Pillar of the Community
Canada
726 Posts |
.Were there any sign's up in the store., or on counter box yu got the coins from- the sign maybe said something about price..Only guessing what could have made confusion.,.
|
|
Pillar of the Community
United States
1314 Posts |
Forget the signs, stop being the victim. Throw a $20 on the counter and see what you get for it. My local dealer usually knocks down the price that is written on 2x2's that he has purchased from other dealers.
It isn't all about money, I expect him to make an honest profit for his time and investment. The real test is when you go into the shop to sell. My local dealer has paid much more to buy back what he has sold me. And he is a rather well to do gentleman.
He is not fair or even generous because he is financially comfortable. He is financially comfortable because he is fair and often times generous.
|
|
Valued Member
United States
167 Posts |
So let me get this straight. The dealer that treats you with such kindness and honesty you sell him the same coins he sold you for much more?
|
|
Pillar of the Community
United States
1314 Posts |
Mullen, I should have expected someone to call me on this, and I'm glad you did.
Yes, he paid me more than he sold them for. Most frequently due to fluctuations in the precious metal prices. When gold was $1200 /oz. he sold for $1225. When it went to $1600, he paid me $1575. Similar stories with silver over $45.
And too, there are trends. When major publications print stories, he'll buy to fill other customer's demands. Sometimes the interest is spurned by unforeseen events in the news. But then again, some are foreseen.
That is why I diverse and specialize. Specialize is what I keep. Diverse is what I invest in.
When the rage was news about a meteorite possibly crashing into earth, you can bet I more than doubled my investment on a small but well documented collection of meteorites.
With coins, I have a few with Spanish Colonial heritage, Western expansion, sunken treasure, Pirates, early Americana and WWII connections.
Coins are not all I invest in.
In less than 5 years, there will be major celebration. The 75th anniversary of the D-Day invasion of Allied forces liberating Europe. It was the largest military invasion in history. And perhaps the most important.
If I were to invest in anticipation of capitalization, I would buy everything I could afford.
And when every magazine, news paper and web site has handed you the best advertising in the world, SELL.
Sell the coins of that period, provide sets of Axis and Allied. Sell stamps on envelopes, letters from home, uniforms, rations, photographs, knives and of course firearms.
Some memorabilia can be purchased for a pittance, but if you have unlimited finances, you can buy the landing craft and tanks.
The beauty of it all, is you get to pick how you invest. And when to sell.
Thanks again for calling me on the carpet, it requires me to be accountable, may answer some of your questions and may increase the perspective of other collectors.
Chute
|
|
Bedrock of the Community
United States
20753 Posts |
I'm lost. Why would anyone pay more than what is stated on the item? In stores everywhere, what is on the item is what is supposed to be the price. In some states, if a salesperson attempts to charge more, it is illigal.
At a store by me there was an add in the paper for an item. I went to that store and demanded it for that price full well knowing it was half what it should be. I got it for the add price. In your case you should have asked for the owner or manager of the store. Would have been nice to have a witness to this all. Maybe it's just me but I'd have fought to get those for the price stated on the coins. Maybe only a few cents but just can't see people trying to mess up someone possibly due to their age.
|
|
Pillar of the Community
United States
4085 Posts |
Here's what I would do. I would Google Belmont Coin and Jewelry and see if they have a website. Guess what? They do. There's a Contact Us link. Here it is: http://www.belmontcoins.com/help.ph...&mode=updatePost a link to this thread there. I live about an hour's drive from there. Guess where I am probably not driving anytime soon... |
|
Pillar of the Community
United States
1314 Posts |
Ken, Very nicely done. Just why I keep coming back.
|
|
Pillar of the Community
United States
3843 Posts |
Plenty of reputable dealers in the area, no reason to deal with those that you feel are taking advantage of you.
|
|
Valued Member
United States
337 Posts |
My LCSs do not have employees, only owners who have a real interest in working with people. Does the owner condone this? Did you ask for the owner? It is a question salespeople do not like.
|
|
Valued Member
United States
139 Posts |
I have noticed a trend of rudeness in many of the coin shops I have been in. I travel quite a bit, so I've seen a lot of shops and many of them are very stand-off-ish. They tend to be very short with me, if not downright rude. I don't know what it is about coins, but it sure seems to make people rude as can be. Most of them seem to have a superior view of themselves and seem downright inconvenienced by my presence. I have a couple that I stick to, and one that is 3 hours away. That one is so awesome that I will save up a bunch of money (and stuff to trade) for when I know I'm going to be down that way. Rude shop owners need to realize that they aren't the only option for buying coins. I'll gladly spend my money elsewhere.
|
| |
Replies: 21 / Views: 3,589 |
Posted 06/24/2014 10:39 pm
