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 Replies: 22 / Views: 2,116 |
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Pillar of the Community
Canada
1931 Posts |
I just got to wondering just how many coin stores are there in the world? There is probably a very difficult and time consuming way to find out for sure but I would love to see everyones guesses.
thanks
Malissa
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Pillar of the Community
Poland
3201 Posts |
250.000  |
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Valued Member
United States
294 Posts |
wow not sure what that number would be. There are 6 within 10 mile area of were I live. Seeking : Trip to the coin store. Rainman  |
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Pillar of the Community
United States
5318 Posts |
Quote:
I just got to wondering just how many coin stores are there in the world? I would predict there are fewer than Starbuck's franchises.  (just having fun here) On that note, it really depends on the popularity of collecting. I've found, for example, far fewer in W.Canada (B.C.) On the other hand, I have 5 within a 20 minute's drive, but only 3 are worth visiting. I suspect some collectors have only one within driving distance--where quality is a mixed bag. If you ask me--coin shows cannot be equaled.  Edited by KurtS
08/17/2008 3:30 pm
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Pillar of the Community
 Canada
1931 Posts |
Kurt,
I have never been to a coin show yet. I am planning on going to the TOREX show here in toronto in October if nothing comes up to get in the way. They don't happen so often here so I'm hoping that this one will give me my fill for a while.
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Pillar of the Community
United States
5318 Posts |
Malissa, The Torex should be great! As a collector of Canadians, I'd love to have that chance. Course, Toronto is a bit of a drive for me. |
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Pillar of the Community
United States
1353 Posts |
Malissa, Going will be an invaluable experiance. At a minimum you can see the different GRADINGS by dealers and a great way to practice your grading. Pick up a TPG slab keeping your hand over the grade. Try to grade it then look at the TPG grade. It helps to sharpen one's skills. |
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Pillar of the Community
United States
6326 Posts |
As of yesterday at 11:33 p.m. Central time in the good ole' U.S. of A.........there are..... 759,436 coin shops world wide.Of course, this number will fluctuate, as certain "shops" go out of business and new ones open up. This figure does not include "antique shops" which frequently sell coins.....this number only includes actual "coin shops" currently doing business in the world as of right now. Just kidding.... Have fun at the show ! And get some cool stuff to show us Melissa ! |
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Pillar of the Community
Canada
1931 Posts |
looks like I will have to get a few good items up for sale now to set aside the money for the coin show. I know I can get a little bit out of control and buy like crazy just at the coin shop, let alone a coin show. lol
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Rest in Peace
United States
9104 Posts |
A lot depends on your definition. I remember going to Chattanooga, which listed four coin shops when there were 20 in Columbus, Ahia. One we never did find, another was a few coins in the back of a drug store, a third was mainly stamps and mainly mail order.
The big one was Chattanooga Coin Co, which put out a 24 page tabloid listing virtually every commonly collected series coin in multiple grades. We asked for multiple silver dollars we needed for stock, and despite being in their paper, they had none of them. In fact, I had more stuff with me to do a mall show than they had in the store! They just took orders and filled them from their dealer contacts. They had a basement full of people filling mail orders.
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Bedrock of the Community
United States
12437 Posts |
I would think that the true number of B&M stores(ones you can actually walk in off the street and the main feature is coins, not pawn shops/jewelry stores that happen to sell coins or solely mail order/internet businesses) in the US is probably only in the mid to low hundreds nowadays. St. Louis has a metro area population of over 2.8 million but I can only think of seven or so true shops, two of them across the river in Illinois. I have no idea as to what the rest of the world is like, but I imagine that coin shops are probably more common in the US than globally.
Edited by biokemist6
08/17/2008 9:38 pm
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Rest in Peace
United States
9104 Posts |
Until coin dealers understand that they have to make a profit, I suspect we'll see fewer of them over time.
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Moderator
 United States
16679 Posts |
Why would I want to attend Long Beach as a dealer, which I have thought about doing until talking with other dealers there, when the space and table is going to set me back $600! I have many dealer friends at Long Beach that tell me how much they made Friday-Sunday, 8 hours per day, and I said  ! I think I will stick to ebay right now with all their small fees. swcoin.ecrater.com
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Pillar of the Community
Australia
1040 Posts |
I read so many posts on here about people having multiple coin shops near them and think why can't it be the same here?
My closest one, which was 15 minutes drive away, has moved, and is now 1/2 an hour drive. And it is still the closest. I live in Melbourne, with a population of 3.6 million, and coin shops are few and far between. The only place you can find them together is right in the heart of the city, and that is a major pain in the a##s to get to. Not to mention the higher prices due to higher overheads, and in some cases, perceived leaders in the field.
There are plenty of on-line and mail order dealers, but it is not the same as seeing the stock on hand. Perhaps there just isn't the demand here for more shops.
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Rest in Peace
United States
9104 Posts |
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Perhaps there just isn't the demand here for more shops. The demand is there, as long as you're willing to work for nothing. Collectors (and most dealers) don't understand there's a reason why most businesses sell stuff for 2-3 times what they pay. I had a multi-million dollar dealer tell me it's a rare year they make more than 10% on sales. Consider that a realtor makes 6-10% and takes NO RISK OR INVESTMENT in his inventory, that's just plain foolish. And their average sale is $100,000! I think everyone needs to recognize just how few serious collectors there really are. I'm not talking about millions of people who will buy a $5 holder and fill it with State Quarters that they refuse to pay more than face for, those won't keep a coin shop open (especially since they buy the holder at hobby lobby or a bookstore). I mean the 30,000 who are serious enough to join the ANA or subscribe to a coin paper. Divide that over the 600 stores mentioned above, and that's a customer a week. No wonder there are so many "coin and something else" shops and they all buy scrap gold. You gotta do something to justify sitting around all day. |
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Pillar of the Community
United States
5318 Posts |
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I know I can get a little bit out of control and buy like crazy Here's an idea that I do for myself. Study your books, and learn a few varieties by heart you'd like to own. Such as a 1949 1c A to denticles. Armed with your new knowledge, go to the Torex and look just for those coins. I have tons of fun this way, and I usually go home with maybe 5 coins, and perhaps $50 spent tops--but with far higher BV. |
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Replies: 22 / Views: 2,116 |
Posted 08/17/2008 1:45 pm
