Has The Primary Source For Building A Collection Changed?

with the advent of online auctions, I would say that the brick and mortar dealers as well as the coin show dealers will have to change their approach if they want to survive,,

The people of todays world are the fast food generation, convienance of shopping from my easy chair at home people.

So yes the way that a person puts together a collection has changed, the Local dealer who used to be the source of information and service is now almost a last resort person.

TPG's and the added value of the plastic has also changed the coin collecting world, IMO for the worse !!

Rick

Living where I do, the coin shows are few and far between.

I trust my local (40 miles away) dealer, and both he and his daughter can get me most whatever I want, at a fair price.

With the little over head the internet provides, it's amazing that a lot of store fronts aren't out of buisness. I commend you all that do own stores and are able to overcome those that don't own a store and come in with competitive prices.

Me personally, I will keep looking at the internet. As you have read in past post, I just didn't strike it rich with the locals. I am a VERY personable person and expect to be treated like you have known me forever. I am not asking for my backside to be kissed, rather, a sense of equality.

I don't know, in the end, dealers have mouths to feed too.

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Originally posted by Metalman
I would say that the brick and mortar dealers as well as the coin show dealers will have to change their approach if they want to survive,

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Oh come on now, you should have known that I would pick this one apart. Sometimes I think that you (metalman) do this to stir my pot a little
First, let us look at some numbers. According to ebay, there gross profits are in the 4 Billion dollar range worldwide on all of their products, with 430,000 sellers.
The coin industry is a 15 Billion Dollar industry. That is just the reported earnings. Anyone attending any show will agree that a lot of business is done in cash.
ebay is FAR from the best coin venue in this country, let alone the world.
NO ONE has ever shown me consistant sales on ebay that are consistantly above GREYSHEET prices. It seems as if internet users begin and end their day with ebay. What is the facisnation?

More real world numbers.

Bowers and Merena average auction $8 Million
Heritage average auction $6 Million
David Lawrence average auction $4 Million
ANR average auction $6 Million

This is just a few examples. And guess what? These are NOT yearly totals, they are average totals. Bowers has 10 to 12 auctions per year.

These articles are NOT talking about run of the mill junk coins that are found on these internet auction sites, but RARE coins. Can anyone remember the last time a Mint State 1921-S Walker was offered on ebay? Anyone remember any Rare Mint State coin being sold on ebay?

Sure you get a few dealers who put some $50,000 coins out there for shock value, but when did any sell?

The above four auction companies that I listed ROUTINELY offer coins deep into 6 figures. With each auction, many rare coins change hands. Find a PROOF Half Cent on ebay. Find an 1895 Morgan.

ebay allows people to play dealer. Simple as that.

There is NOT 1 single seller on ebay that is a direct competitor of my firm. NOT ONE. I could care less about the few million dollars that gets sold on ebay.

When they reach the BILLION dollar mark in Rare coins, Maybe just Maybe I would take a second to consider being associated with them.

I know that I have stated my views on these internet flea markets a hundred times. If you want ripped off, go ahead. Facts are facts. More counterfeits and lousy 3rd party coins are sold on internet auctions than ANY show floor.