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Need A New Coin Shop

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Author Previous TopicReplies: 14 / Views: 1,210Next Topic  
Pillar of the Community
Tim Stroud's Avatar
United States
2661 Posts
 Posted 09/18/2011  09:33 am Show Profile   Bookmark this topic Add Tim Stroud to your friends list Get a Link to this Message Number of Subscribers
Went to the only coin shop in my area yesterday to see what was new and to pick up a $3 gold if he had one. The dude always was a little pricey, coming in right at Red Book, but now has far exceeded RB & Numismedia prices. I was also going to try and pick up the last four Franklin's I need for my Dansco. The ones I need are listed at $20 in MS60(rounded up to nearest $ amount). He had his starting at $29.95 and they went up from there based on his opinion of grade. When I asked why so high of a price he replied that he could sell them for that to anyone else for that price. I told him I would offer FMV and he said to go to another shop if I want to get them at that price. So needless to say I will not be going back again.
Pillar of the Community
Libertad's Avatar
Canada
3692 Posts
 Posted 09/18/2011  10:14 am  Show Profile   Bookmark this reply Add Libertad to your friends list Get a Link to this Reply
How would another shop have the exact same coins, though? :p

Grading is pretty important. Telling someone the reason for a grade is better than flat-out telling someone their opinionized grade without backing.

But, it's his shop, and he can price them however he wants. He may be trying to weed out knowledgeable customers and attracting more first-time (once-only!) buyers, which is pretty backwards, IMO.

Is it that his coins were overpriced or overgraded? I figure that you as a collector are more interested in high-grade, and wouldn't haggle over the grade but the price. Correct?
Valued Member
IowaHawkeye's Avatar
United States
72 Posts
 Posted 09/18/2011  10:36 am  Show Profile   Bookmark this reply Add IowaHawkeye to your friends list Get a Link to this Reply
I wonder what kind of response you would get if you listed a wanted post for the last four Franklins here.

Pillar of the Community
Tim Stroud's Avatar
United States
2661 Posts
 Posted 09/18/2011  10:58 am  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply

Quote:
I wonder what kind of response you would get if you listed a wanted post for the last four Franklin's here.


I am done with online buy/sell/trade transactions. The last three from this forum alone were nightmares. I quit ebay a long time ago.


Quote:
Is it that his coins were overpriced or over graded? I figure that you as a collector are more interested in high-grade, and wouldn't haggle over the grade but the price. Correct?


Well you tell me. He had both 48's I needed in what was supposed to be MS60 (Numismedia= $19.20) for $29.95. They looked AU to me, I have found better looking Frank's from roll hunting than what he had this time. It was if his whole attitude had changed and I do feel that it is because of the PM craze has created a herd of ignorant buyer's who will pay extraordinary prices for coin simply because "they are old, so they have to be worth a lot of money". Up until now this guy gave out Ike $'s as change. He now sells them for $5 each and says he can not keep them in stock. In the immortal words of Obi Wan........."once you start down a path to the dark side, it will forever dominate your destiny"
Pillar of the Community
United States
759 Posts
 Posted 09/18/2011  11:53 am  Show Profile   Bookmark this reply Add OneBowl to your friends list Get a Link to this Reply
So what were prices like on any $3?
Pillar of the Community
mitchhailey's Avatar
United States
1150 Posts
 Posted 09/18/2011  2:06 pm  Show Profile   Bookmark this reply Add mitchhailey to your friends list Get a Link to this Reply
You know, like others said, it is his shop and he can price however he wants.

HOWEVER, how do you run a business like that? Whatever happened to making your customers happy?

Folks want this hobby to expand, but this coin dealer isn't helping the hobby any. He's hurting it.
Pillar of the Community
Tim Stroud's Avatar
United States
2661 Posts
 Posted 09/18/2011  2:19 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply

Quote:
So what were prices like on any $3?


He didn't have any.
Bedrock of the Community
United States
20753 Posts
 Posted 09/18/2011  3:49 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Pay your taxes! 12 million illegal immigrants are depending on it.

Boy are you outdated. Statistics show it's more like 31 Million. AND according to the hospital I go to, none can be refused there as long as they state they are illigal. So keep paying your tax share of that.

Quote:
Went to the only coin shop in my area yesterday

This is a horrible situation for many, many people everywhere. Not a lot of solutions for that problem either.
Naturally you could move to another area.
Or try Google for possible coin shops in nearby towns, counties, etc. Might be surprized at what you find.
On line dealers are like flys, they are everywhere and you have no idea what they are really like.
The best thing to do is attain enough posts right here so you can buy and sell to members of this forum. That does not guarantee they are any better, me for example, but I'd rather trust a CCF member than almost any on line dealers.
Don't know why but in some areas coin shops and/or places that buy/sell coins is excessive. And in other places few to none.
Pillar of the Community
Tim Stroud's Avatar
United States
2661 Posts
 Posted 09/18/2011  5:20 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
I appreciate your input Carl, but I think I might have enough posts to buy and sell here on the forum. As I stated in a previous post in this thread I am done doing that here also. I just got stiffed by a member in a trade, before that I was sent something other than what was promised in the trade because "silver took a nice jump" so the trade was adjusted and not renegotiated. In fact the last three B/S/T's on here were flops, I can't post what I really want to say they were.
Moderator
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 09/18/2011  5:27 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply

Quote:
In fact the last three B/S/T's on here were flops, I can't post what I really want to say they were.


Did you mention these to forum management? These are not the practices of people we're willing to allow to deal here.
Pillar of the Community
yankee1227's Avatar
United States
1151 Posts
 Posted 09/18/2011  5:52 pm  Show Profile   Bookmark this reply Add yankee1227 to your friends list Get a Link to this Reply
I agree you should email bobby or susan.
Pillar of the Community
Tim Stroud's Avatar
United States
2661 Posts
 Posted 09/18/2011  6:26 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
If the last trade is not in my mail box when I get home tomorrow, I'll be posting the entire email thread right here for all to see. I figure that should be more than enough time for two 40% Ken's to get here from Massachusetts seeing how they were supposed to have been mailed out on Aug 13th, or was it Aug 22nd, NO Wait! They went out on the 25th...............again, returned twice for lack of postage I was told. The other two were early this winter and I have forgotten who they were, but I was not the only one with a problem dealing with those guys.
Valued Member
Canada
497 Posts
 Posted 09/18/2011  6:33 pm  Show Profile   Bookmark this reply Add west- canuk to your friends list Get a Link to this Reply
Another option might be to join a local coin club, usually there are members who are part time coin dealers who only set up a table at a local coin show, or collectors with extra items to sell.
Pillar of the Community
United States
539 Posts
 Posted 09/19/2011  7:45 pm  Show Profile   Bookmark this reply Add weavus135 to your friends list Get a Link to this Reply
wow, this is disturbing on several points. I'm really disappointed to hear that deals made here on the forum turned out to be flops (Tim's words). I've made some small transactions and nothing in precious metals and all have been wonderful. The other troubling thing is just hearing again about the PM craze. this kills me. I cannot get some coins for collecting purposes because the darn things have a little silver in them and folks just want to charge an arm and a leg for them. Neither of which I'm willing to part with! I happen to also be in an area that seemingly lacks a coin shop that is interested in collecting vs. buying and selling precious metals. I walked into the one shop that is anywhere near my home the other day for the first time. I was somewhat greeted by the owner but it was clear he didn't really want to be engaged in conversation. He was busy pouring and counting washingtons or franklins or something silver! Anyway, I'm a dark side collector and his selection (that I could see0 was limited. He got a phone call and I knew I was not going to be a repeat customer when he wanted to buy a small order of Krugerrands for about $23K. Wow! I'm not even an eye on that small potato!

On a bright side, I was 2 1/2 hours away from home in a tiny little town and there was a "collectibles" shop that had coins, actually a coin shop that had a few collectibles as it turned out. I bought some German 5 mark coins (they had silver in them) but was able to do so at a reasonable price, actually as it turns out below melt - heaven forbid!
Bedrock of the Community
United States
20753 Posts
 Posted 09/20/2011  09:33 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Did you mention these to forum management? These are not the practices of people we're willing to allow to deal here.

That is really true. You should have contacted the moderators fast. Many people here think of this forum as one place where you can trust others. Naturally anywhere and everywhere there are a few oddballs, but this forum should be one of the better places for coins. A few such bad reports starts many others to start to wonder.
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