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How Are Coin Dealers Holding Up During This Time?

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Prethen's Avatar
United States
3234 Posts
 Posted 06/24/2020  10:52 am Show Profile   Bookmark this topic Add Prethen to your friends list Get a Link to this Message Number of Subscribers
I'm no longer in contact with any dealers in recent years so I don't have any sort of feel of what's happening in the retail arena. I was hoping to go to a coin show eventually again, but that's out the door...for now.

I guess coin stores might be doing okay. In fact, with vest pocket dealers probably out of the picture for now, along with dealers that don't have shops but frequent shows, the shops might be doing a booming business.

I really feel sorry for those dealers where buying/selling is how they eat and they don't have a major presence online. Most dealers I worked with do not have a great online presence, just basically a site announcing their business and sometimes some inventory.
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GrapeCollects's Avatar
United States
8938 Posts
 Posted 06/24/2020  11:59 am  Show Profile   Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
Dealers are doing much better than you'd think. I work at a shop in Silver Spring MD. While I'm not at liberty to divulge exact numbers, out sales are up well over 150%.
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oriole's Avatar
Canada
5239 Posts
 Posted 06/24/2020  12:03 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
Well, here in my city of Ottawa Canada, the LCS have been officially allowed to open for several weeks. The ones that I frequent have reported that business was very slow at first, but has been picking up a bit. One I have heard is only open via appointment. At first they were selling more than they were buying, and in particular very little silver and gold was coming in. As you may know, for many shops trading silver and gold were a significant chunk of their business. They still cannot reliably get bulk orders for the bullion rounds like the Maple Leaf, which are still selling for a hefty premium over bullion.

At least one vest pocket dealer I know is still busy via his contacts and his advertisements in Kijiji (similar to craigslist). However, he obviously does not make his living from this.

Local shows are not operational and I have no idea when they will start up again.
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hfjacinto's Avatar
United States
7273 Posts
 Posted 06/24/2020  12:15 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
My local shops started off slow, but the sales have picked up. Numismatic items are slow, precious metals are selling fast. The biggest issue the dealers have is lack of inventory. Not many people are selling.
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Pacificoin's Avatar
Canada
5393 Posts
 Posted 06/24/2020  1:58 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Online we are doing very well especially April through first part of June .
Starting to slow as is usually what happens towards summer .
Very difficult to buy as our Collectors market is still slammed shut , and not
likely to reopen any time soon .
The dealers in our area with bricks and mortar are all saying the same
that not much being sold to them !
Bedrock of the Community
United States
20753 Posts
 Posted 06/26/2020  2:16 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Not sure but dealers I used to have contacts with just no longer even reply.
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kena's Avatar
United Kingdom
1682 Posts
 Posted 06/26/2020  2:48 pm  Show Profile   Bookmark this reply Add kena to your friends list Get a Link to this Reply
In the UK the dealers shops have been closed for around 3 months. One that is local to me had to resort to selling on Facebook to make a living. He is not sure yet if he will be allowed to open on the 4th of July when restrictions start to be lifted.
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