| Author |
 Replies: 11 / Views: 1,487 |
|
|
Pillar of the Community
United States
3843 Posts |
Is the market for collectable coins to small alone to support a shop? Should coin dealers diversify into sports cards, comics, jewelry, or other collectable niches to survive? I know coin dealers that have stamps, sports cards, local memorabilia, and even some jewelry in their stores that they say creates a secondary stream of income into their stores and ebay accounts which has helped their finances. Is the coin market too volatile on its own and can another collectable help preserve cash flow and stability while bringing in more customers and more collections into their shop? Your Thoughts? Do your local coin shops sell anything other than coins, bullion, and currency? Joe |
|
|
|
Pillar of the Community
United States
4883 Posts |
Both shops I regularly patronize also buy & sell jewelry, watches, gems.& other collectibles in addition to bullion & numismatic items.
Colligo ergo sum
|
|
Pillar of the Community
United States
2424 Posts |
my shop in Tucson does autographs...Tucson Coin and Autograph
|
|
Pillar of the Community
Canada
5239 Posts |
My LCS only sells the odd piece of jewelry. Bullion makes up over half their income.
|
|
Pillar of the Community
 Canada
5393 Posts |
It is do that or die these days!
|
|
Pillar of the Community
United States
7273 Posts |
Bullion is big. My LCS sell more bullion than coins. Bullion is 75% to 25% , but he makes more on coins. The bullion market is very cuttthought.
|
|
Pillar of the Community
Canada
999 Posts |
When I was a kid the LCS at the time also sold stamps. There were two co-owners, one focused on coins and the other stamps. It seemed to work out pretty well. The problem with too much diversification is that it's hard to be knowledgeable in all areas and therefore you may not really be too good with any of it.
|
|
Valued Member
 United States
397 Posts |
One of the local shops I frequent not only sells coins, collectibles, and jewelry they started selling guns and ammo a couple of years ago. Quite the combination.
|
|
Pillar of the Community
United States
8137 Posts |
The shop that I work at sells all kinds of stuff. Coins, guns, safes, knives, and a small amount of sports cards and comics.
|
|
Moderator
United States
187702 Posts |
The LCS I frequented most often also sells knives. It is in their name, so it is not just a side business.
|
|
Valued Member
United States
112 Posts |
That's an interesting question. Diversification is always a good bet.
|
|
Bedrock of the Community
United States
20753 Posts |
Most of the ones near me sell many other items. One has a large section of antiques going back to Egyptian times. And of course almost all sell coin collecting stuff like Albums, Folders, flips, etc.
|
| |
Replies: 11 / Views: 1,487 |
|
Posted 02/07/2020 8:19 pm
