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 Replies: 21 / Views: 3,321 |
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Valued Member
United States
476 Posts |
Stopped by the local coin shop to pick up my first Dansco today. In my change I received a BU 1970-D Cent (with a hit), a very nice 1964 Jefferson (AU), and a 1942-D Jefferson. My assumption is those are intentional gifts by the shop...is this common amongst the coin shops, or is mine just one of the good guys?  |
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Bedrock of the Community
United States
20753 Posts |
Sounds like a please come back atempt. If you go back, it worked. Happens a lot with some dealers at coin shows too. At one coin store I frequent they too always give change in something that someone may want as a collectable. Pays if you go back.
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Pillar of the Community
United States
2734 Posts |
I've received a few 'goodies' in change from several coin shops. It's actually a smart business practice to give out some 'leftover' coins that are valued around face value. ( and the dealer can see who's paying attention to the coins in their change!  ) One shop had a special sale, and all the One Cent coins they gave out in change that day were common date 40's/50's Wheat Cents! Another nice thing I got in coin shop change was a BU 1965 Dime, possibly SMS.... Edited by DNA
10/30/2009 5:23 pm
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Pillar of the Community
United States
2605 Posts |
I guess you can call your dealer a smart guy rather than a good one. My local coin shop owner often slips in an Ike dollar with your change. |
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Pillar of the Community
United States
533 Posts |
I've had the same thing happen and I too appreciate it. I suppose it doesn't cost my local shop much and does seem kinda like a nod to the folks that appreciate nice coins even if they aren't valued much over face.
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Pillar of the Community
United States
1418 Posts |
I receive AU 1960's pennies, susan b's, sacagaweas, Kennedy halves, and 2 dollar bills all from 1 purchase. |
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Pillar of the Community
United States
632 Posts |
The coin shop is the only place I've ever received a 50 cent piece in change. On this note, if someone, anyone gives me a handful of coins, I have to look through them. More than once I've been asked if they had given me the right change but I'm not counting the change. I'm looking through the coins you just gave me.
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Valued Member
United States
146 Posts |
That is a cool bonus and agree with everyone else makes good business sense. Consider yourselves lucky to have coin shops to go to. I live in Charleston, SC and dont have anything around here. Granted we have a coin club and they put on some really good coin shows but I would love to go browse a store on a boring rainy day. Or a nice sunny day for that matter.
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Pillar of the Community
United States
797 Posts |
Never had anything great in change at my local coin shops. However, I pay with debit card usually. Maybe it is time to change to get some cool change!
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Valued Member
United States
193 Posts |
At my local shoppe they owner usually mixes something of interest in the change (he only accepts cash), he says he drops in something of interest every day. Last time he dropped in a roll of BU LMCs, pre-65 Jeffersons and he's the only place I know that gives Kennedy halves and IKEs or SBAs as change
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Pillar of the Community
United States
2541 Posts |
One store I go to puts steel pennies in random envelopes that they give you to put the coins in. I was lucky enough to get an uncirculated one!
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Valued Member
United States
297 Posts |
the coin shop near me hands out 2 dollar bills
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Bedrock of the Community
United States
20753 Posts |
Quote:
Never had anything great in change at my local coin shops. However, I pay with debit card usually. Maybe it is time to change to get some cool change!
Not really a good idea you know. Using a credit or debit type card leaves a trace of what your buying. You may not care, but many dealers really don't appreciate them. I know I shouldn't say this but many dealers are doing selling of coins as a side line and none of this is reported to the IRS. Using a check, credit or debit card leaves a trace and then possibly could be trouble for tax purposes. Therefore many dealers will give you a much better deal if using cash. Not only that but for haggling a price with a dealer it is really tuff to say I only can afford xxx then produce one of those cards. Another, and even more important reason not to use such cards is the info on them. Now when you use those you should really make sure no one is around you reading what is on that card or even photoing it with a camera phone. This is really, really important at a coin show where people are all over you. |
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Valued Member
United States
419 Posts |
My coin shop guy always keeps some common halves and two dollar bills to give back as change. Just something out of the ordinary.
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Pillar of the Community
United States
2734 Posts |
Even if the dealer's only source of income is selling coins, they
still have an incentive to give special deals to cash buyers.
Namely, the fees that they have to pay on credit/debit transactions!
The fees can be as high as 5% (once you add the card company fees
and the card reader fees).
It's not just coin dealers who give special deals to cash buyers,
I've had other small businesses give me 'cash deals', complete with a
receipt and sales tax charged! (and these are businesses with their
own buildings and hired employees, so they're not too likely to be
'side-income' businesses)...
One business I know even adjusts the 'cash deal' prices for sales tax:
ie: The "$200.00" 'cash deal' item is 'officially' $186.05,
then after the 7.5% sales tax is added, the total is $200.00 even.
The buyer hands over two $100 notes and it's a done deal!
Edited by DNA
11/01/2009 10:01 pm
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Pillar of the Community
United States
2589 Posts |
One reason for finding such goodies at coin dealers is coins such as low end BU memorials, worn early jeffersons, and clad jfks are not very profitable as salable items. When dealers buy lots in bulk without looking at them they sometimes accumulate these items as well unintentionally, such as buying a folder of nickels and keeping only the keys. Thus instead of taking them to the bank they use them as change within their own shops.
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Replies: 21 / Views: 3,321 |
Posted 10/30/2009 5:18 pm
