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 Replies: 26 / Views: 3,969 |
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Valued Member
United States
462 Posts |
I've never gone to a coin shop, am not a real long-time collector, don't have very deep pockets, and am not extremely knowledglable about which coins are rare and what each coin is worth (other than referring to the Red Book). Is it considered rude to bring a copy of the Red Book to a coin dealer's shop? I think that if I were the shop owner, I might consider it an insult that someone is questioning whether or not my pricing is accurate and whether or not I'm an ethical coin dealer. Any advice? Anything in particular I should be looking for in a coin show (ex: junk silver bin)? Are most coins shop owners in it for the money and don't want to deal with petty people like me or are they enthusiast who would like to cater and educate to people like me in order to gain trust and get me further interested in the hobby? Please let me know as I feel rather intimidated by this. As an example, I asked for coin collecting books for my birthday (to store collecting coins in). The local dealer told my mother they didn't stock those books because they run about $50 a piece. My mother in law gave me a whole stack of those types of books, of which each cost about $4.00. Thanks for your help. |
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Valued Member
United States
426 Posts |
I always take my copy of Krause's North American Coins & Prices to coin shows and coin shops and never had a bad reaction. I also use it as a checkist also to not forget what I already have. Most coin dealers that I've dealt with are good folks, they don't care if I take my book in because they know I use it as a reference guide and not just a pricing guide. Where it gets more trickier is when I want to weigh their coins with my digital scale. One of the series I collect is heavily counterfeited and I need to cover ALL my bases. I only do this with their permission and with longtime dealers who know me well.
Good Luck!
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Valued Member
 United States
462 Posts |
SO it sounds like its basically frowned upon
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Valued Member
United States
121 Posts |
If your afraid of upsetting a dealer, just make a mental note of (or a real note for that matter) of what your interested in. Then you can do your research on what the particular coin is going for in that particular grade, check here check ebay etc. Then you can make your best educated decision on what to pay. Don't forget it never hurts to barter! |
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Pillar of the Community
United States
2049 Posts |
Coin dealers pull out the greysheet to look up prices in their shop and at shows, so there's no reason for you to feel like you can't have your own pricing sheet/book for reference. It's impossible to memorize every single price so having a price guide is not rude IMO. When I worked at a shop, it wouldnt bother me one bit if someone brought in a price guide. :)
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Valued Member
United States
426 Posts |
I wouldn't say frowned upon but just be courteous and when you use it make a comment to put them at ease like, "lemme check what dates I still need" or "lemme see here what mint marks I still need for my collection" kind of play it off that your checking pricing, act like your checking references like mint marks, dates, grades so they think its more of a reference checklist than a price guide!  All in all if I notice a dealer a little sensitive, I've also been known to run out to the car for my "wallet" or to use my phone but I'm really checking my price guide! :) Or I take pics of the price guide in my cell phone for easy access. Ultimately don't worry about it too much, its better that you are a knowledgeable buyer! Edited by RealPeso
10/24/2010 01:56 am
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Valued Member
United States
294 Posts |
Dealers are checking price guides, why can't the buyers? My local dealers are either checking Greysheets or their own typed guides. Anyone who gets offended by a customer double checking their offered price against a standard reference probably isn't the best seller to deal with. I don't always take a book or magazine in with me, but I usually know what I want when I go in, and will dicker based on my research. If there is a question, I can go out to my truck and bring in my source.
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Pillar of the Community
United States
2661 Posts |
I would say that it is OK to do so. The one and only real coin shop in my area has a copy of the Red Book out on the counter for his customers to use. |
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Pillar of the Community
United States
667 Posts |
I don't see any problem with bringing one. If a dealer gave me a problem it may be one that I don't want to buy from. The few shops in my area are all pretty nice.
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Pillar of the Community
United States
2757 Posts |
I never go browsing for coins without a price guide, my own checklist of my collection, and a full set of reference material in my car. This way, in case I happen to find something special, or something the dealer claims is special, I can just go to my car after I'm done looking in the shop. Then I can look it up and if I choose, based on my research (not pressure from inside the shop), I just go back and say that I had few minutes to think about it and would like it. Nothing makes them happier, and you can rest easy that you made a well informed decision. FYI, it seems MUCH more commonplace to walk around a coin show with your books and price guides: it's not just common, it's almost expected. This site http://numismaster.com/ta/inside_nu...howsCalendar lets you search for coin shows by region, state, and dates, and is very comprehensive. Good luck. |
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Bedrock of the Community
United States
20753 Posts |
If you want to take a Red Book with you to a coin store, it's better for the dealer. If you look up prices in that book and they are so inflated the dealer will really be or should be happy. If he can sell you coins based on those prices in that book, he'll sure have a massive profit. Although as a rule coin stores are also excessively over priced for everything they sell. Not to knock them but you have to remember that the profit must pay for electric, water, phones, gas, papers, safes, lighting fixtures, display cases and then all the things for his house and family. As to the so called books for your coins. Those sound like Folders not Albums which is why the cost only $4 each. A folder is just that, a folder. The dealer was talking about Albums and they are expensive but no where near $50 each but he is discussing his massive add on expenses. Folderes are where you press a coin into a slot with your thumb or a hammer if needed. An Album is where you place the coins in a slot and can see the front and back. Removable plastic slides for coin access. As to a coin shop not wanting to deal with small time people. Some do and some want to have a buisness for ever. I know of one coin store where your treated like a bum if you don't buy something really expensive and frequently. Other places will gladly sell you a $0.10 item and smile doing it. All depends on the place and dealer. |
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Pillar of the Community
United States
651 Posts |
Nothing wrong, in fact it's common to see (especially a newbie to a specific field) to have a Red Book. The advanced usually will have a greysheet. Red Book in some cases is considered "full retail" and dealers would loooove to sell retail. As long as your are interested your method is appropriate. Try not to cherrypick and then brag on how the dealer erred. |
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Valued Member
United States
291 Posts |
No problem at all. I take my iPad (with coin software) into my local places and sit down with stacks of their coins and pick out what I want. Then again, the owners know me, and I don't pay list. I say how much for these," and they usually comp me one coin for every 5 or so I'm buying.
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Pillar of the Community
United States
1080 Posts |
One dealer I visit has a half dozen red books lying around. That way he can show you what the Red Book says and then he compares to his price, which is based off grey sheet and is usually much lower. Much better to feel a little embarrassed by looking in your book than feel a lot embarrassed by making a big deal over something you thought was rare because you remembered the mint mark wrong. Reminds me... One of my grandad's Mercury dime folders had prices penciled in every blank -- like, "this is the price for filling this hole at the shop downtown." |
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Pillar of the Community
 United States
2448 Posts |
Youbetcha! Use what you want.
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Valued Member
United States
188 Posts |
Both of the LCSs I go to really push the Red Book, especially for new collectors! They have no problem letting me look something up if I forgot my book. |
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Replies: 26 / Views: 3,969 |
Posted 10/24/2010 12:23 am
