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 Replies: 20 / Views: 3,334 |
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Rest in Peace
United States
18456 Posts |
Just came back from my LCS and for the first time ever I left there without buying anything . It wasn't that I didn't have enough money on me because I did . Everything That I needed they didn't have, and if they did have it , it was priced way too high for my blood . Very disappointing. Anybody else having this kind of experience ?   |
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Bedrock of the Community
United States
19948 Posts |
You have to develop a relationship with the shop. The prices they put on coins are generally full retail plus. After all, they do need to cover the expenses of running a shop.....running a business is expensive! I've found the better they know you, the more stuff you buy, the better deals you'll get. You made a mistake by not at least buying a few trivial coins to demonstrate you're a buyer. Breaking that ice can be a great first step! My local guys knows everytime I come in, I buy something....I get treated like a king, even if I only spend $10.
If they have stuff you need, bring your Gray Sheet in hand. Ask to see a coin, get a price and compare to your CDN value. Tell them you were looking to pay closer to CDN and see what they say. Most dealers use CDN and buy at about 50% of bid....they have room. When they see you're a serious, well-informed buyer, they will work with you.
Now, if a coin is really special, expect to pay closer to retail. Dealers aren't dumb, they know they can get a good price on an exceptional coin and they tend to hold firm.
I greatly prefer seeing a coin in hand. To me it's worth the extra expense and I don't mind paying a bit more.
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Rest in Peace
United States
4078 Posts |
Thanks BadThad, for your knowledgable information. Can one buy a single Gray Sheet that list current prices? I know that FMV has a way.  T-BOP Thanks. For posting hope this helps Wait, how do the dealers go on-line to see the actual price of a coin. Not retail. Edited by bpoc1
04/06/2016 5:08 pm
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Bedrock of the Community
United States
20753 Posts |
This is why I avoid coin shops. They have to make a massive profit to keep the place going.
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Pillar of the Community
United States
7390 Posts |
Thad nailed it. But it also all depends on the type of lcs and the personality of the owner. Friendly type owners are the way to go. Those nasty or greedy types stay away from
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Pillar of the Community
United States
1628 Posts |
For me, it seems there's nothing new coming into the local dealers. Every time I stop by the first thing they say is "same as before".  |
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Pillar of the Community
United States
1189 Posts |
I have that experience every time I've been to a coin shop. As much as people bash it, I get way better prices on ebay. Seems like every coin or pawn shop I go to prices right at PCGS value for slabs. Go to ebay (auction) and you'll get the same item for 25% less. You can find good things by digging through junk bins though (assuming the owner is friendly and will let you spend some time looking). |
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Pillar of the Community
United States
589 Posts |
I visit LCS once a month and that is if I'm in that part of town. I may buy few silver or gold bullion but have not bought anything for my coin collection in many years.
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Valued Member
United States
125 Posts |
I still haven't broken the ice at store near me, kinda frustrating. Only going to keep them in mind to submit coins to be slabbed through them.
First visit just talked for a little bit and felt like I was patted on head and sent home, second visit bought random low grade IHCs with people not interested in conversation, last visit took some stuff into shop for them to look at and was told it was worth nothing. Guess I won't get attention until I spend hundreds of dollars...
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Pillar of the Community
 United States
2843 Posts |
I have a great relationship with my LCS. Two nice older guys eagerly greet me on my weekly visits.
I get stuff for way below retail. I don't spend that much, but I am steady.
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Valued Member
United States
343 Posts |
I think a relationship does help the prices you get. I have been going to the same shop for a couple years now, and he always knows what we're looking for. We never buy huge amounts but he knows we don't go to any of the other shops in town. Not positive but pretty sure I get lower premiums than non-regular customers.
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Bedrock of the Community
United States
17884 Posts |
It's been a long time since I've been to a coin shop, but I often had that frustration. But in my case it was typically because they didn't have anything I could use. (You collect oddball stuff and you don't find much in local shops very often.)
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Bedrock of the Community
United States
11951 Posts |
As others are posting, to get the good coins and the good
prices, you have to develop a good relationship.
Some people are better at that then others.
It is a slow process, with many doo's and don'ts's
But is really different for everyone, because of
so many different personalities.
Do
Act like a good adult
Find some coins or supplies you need and buy them.
Pay the price they ask
Don't
Tell jokes
Talk politics
Talk religion
In anyway sound like a "no it all"
Be a cheapskate
I am not sure developing a relationship can be taught.
You have to be very observant. If you see yourself doing
something that is being taken as negative, stop doing that.
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Valued Member
United States
422 Posts |
I have 4 shops I deal with, 2 are bigger than the other 2 and they all treat me fairly good. Sometimes I just stop in to say hi but, most times I buy something.
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Pillar of the Community
Sweden
1078 Posts |
BadThad, I share your experience completely. The first couple times I came to the shop I was an average customer who was offered the standard retail deals every time. For example, I could buy half dollar coins for 5 SEK each, they were worth about 3.50 SEK at the time. Nowadays I buy them for a measy 80% exchange rate. Same thing goes for the occasional Ike. Every time I walk in the dealer immediately knows what I want and rounds prices down to the nearest 5 SEK despite buying junk silver or currencies. I come in weekly but usually spend only $10-$15 worth.
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Rest in Peace
United States
17900 Posts |
As with any smaller retail store their survival depends on the people running the shop. Good people know how to make everyone feel welcome. Conversation is best started with questions about an inventory item.
If the retailer takes time to answer your questions, you are in the right place. Buy SOMETHING. And thank them.
Next time, if they love their business, they will remember you positively.
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Replies: 20 / Views: 3,334 |
Posted 04/06/2016 4:59 pm
