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Coin Shop Experience - Is This Typical?

philographerphilographer Posts: 1,310 ✭✭✭✭✭

I spend a lot of time online, browsing and reading, and I rarely go to coin shops. Actually it’s been about 9 years since I was in a coin shop. So was a bit perplexed by a visit yesterday to a shop in North Carolina while on a short trip.

Perhaps my expectations were off. I thought I’d strike up a conversation, look through the cases of coins, ask to see a few things I’m interested in, such as Type 1 and 2 double eagles, no motto eagles, and early bust halves. NC is a no-tax state when it comes to coins. I brought a bit of cash and a couple slabbed double eagles that I was hoping to sell.

The shop and city will remain nameless (it‘s in one of the top 5 largest cities in NC). It was sparsely furnished and in a small strip mall. When I say sparsely, I mean one 30 foot wall held one bookcase of supplies such as 2x2’s, PCGS boxes, and other storage options. Nothing else along the wall.

The back area and about half the other wall had a number of illuminated display cases arranged in an “L” shape. A doorway to the office was along the back wall.

Looked through the cases. A few boxes of cull coins; a few shelves of low grade, beat up slabs; four or five modern proof sets; a shoebox of foreign silver; a large Engelhard bar; some more beat up slabs; some Silver American Eagles; and some beat up, raw, and mostly foreign gold coins. To my eye, it was depressing.

The shop was empty when I came in, but after a moment a guy came out from the back. I introduced myself and we talked for a few minutes. Net messages:

  • Do you have inventory not in the cases? “Some”
  • Do you have any bust halves? “No, we don’t have any bust halves”
  • Do you have any Type 2 double eagles. “No, and if we did we’d put them on eBay”
  • You don’t really keep a lot of inventory here? “Well, we used to. Years ago people used to fill up coin books. No longer. Now everyone is interested in just one thing...” (Points to the case of banged up gold coins)
  • People are buying gold these days? “Oh yea they are!!”
  • I have a couple Saints in PCGS 64 in the car I’m interested in selling. How much are you buying for? He walks into the back room and asks The Voice how much they’re paying for 64’s. I hear: “we’ll pay $1,500 for 64’s...but listen to me. No spots, and I mean absolutely no spots.” The man comes out and repeats everything The Voice said to him, and emphasizes no spots. ($1,500 sounded fair to me, all in all)
  • I bring in the coins from the car, and tell him that one is actually a 63 and also a bit hazy. The other is a 64.
  • The hazy 63 he offers $1,300 on. Lowball.
  • He says the 64 has a minuscule copper spot on the back. This is true, though I hadn’t ever noticed it before. (It is quite small.) With that, he said he couldn’t buy it.

I realize my expectations may have been off, and I’m sure there are other shops at the other end of the spectrum. Would you expect a shop to have some bust halves in stock? Is this a typical experience / coin shop model these days?

He who knows he has enough is rich.

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Comments

  • PerryHallPerryHall Posts: 45,296 ✭✭✭✭✭

    The low ball offer on one of your coins is unfortunately all too often typical of coin shops.

    Worry is the interest you pay on a debt you may not owe.

  • jmlanzafjmlanzaf Posts: 31,614 ✭✭✭✭✭

    @PerryHall said:
    The low ball offer on one of your coins is unfortunately all too often typical of coin shops.

    There is no coin shop in Rochester NY that would offer $1300 for a 63 $20. There's a few pawn shops, but no coin shops.

  • ms70ms70 Posts: 13,946 ✭✭✭✭✭

    The one by me looks like what you'd find in the dumpster after a good coin show.

    Great transactions with oih82w8, JasonGaming, Moose1913.

  • PhilLynottPhilLynott Posts: 880 ✭✭✭✭✭

    I took one day a few years back to travel to every coin shop within 20 or so miles of me and made it to about 8 that day just to see what all was out there. Of the 8 one had decent inventory and the guys working were awesome - I sold some gold for an extremely fair price and bought a few coins as well. One had nothing for me really but the owner and other guy working were also awesome people and made it enjoyable - but it's since closed.

    The other 6 were pathetic across the board. No inventory. No interest in even acting like I was in the store. Embarrassingly low offers. Just horribly run operations that I can't believe make rent and worry that they only do so by taking advantage of people who don't know any better.

  • CoinscratchCoinscratch Posts: 7,807 ✭✭✭✭✭

    It would be nice if coin shops were what they once were! Being a newbie, I haven't been able to experience that, what you speak of :) What can I imagine? The candy store in Willy Wonka's Chocolate Factory for example. Which probably dates the same! But back then, there was plenty of candy to go around for all of the kids who were very eager to get their hands on..:)

    The kinda junk I find on foot in pawn/antique shops is quite like your experience (for the most part).
    Until one day it got worse! This particular pawn shop had numerous 70's, 80's & 90's proof sets which obviously, is something you would only buy on the fly in hopes of scoring a "No S" etc.etc. (this punk couldn't possibly know what a NO S was in first place, right??? :D

    So, I pull out my wallet and kindly ask, what are you asking per set? He abruptly, told me that I would have to go on to ebay and bid on them..........................................................................................................................................................................Okaaaay?!
    But really, I'm here right now, with cash ready to burn and will buy your complete inventory of COINS...How much are you asking??? Again, GO TO EBAY! But I'm at your shop and your showing them to me so, how much?

    I walked out, I never looked closely at the coins, and I never went to ebay (at that point or for his bs) but I will go back and visit his shop again soon to see how the ole' ebay thing went...

    Its mostly okay, as he didn't have a '75 set anyway...Whewww! :*

  • Mdcoincollector2003Mdcoincollector2003 Posts: 665 ✭✭✭✭✭

    I am very lucky! My local coin shop has a wide variety of stock including high quality stuff; last time I was there they had a flowing hair dollar, at least one cc gold and a 3$ gold piece.

  • lcoopielcoopie Posts: 8,691 ✭✭✭✭✭

    Yes, imo.

    LCoopie = Les
  • 291fifth291fifth Posts: 23,898 ✭✭✭✭✭

    Morgans, Morgans and more Morgans. Bullion, Bullion and more Bullion.

    All glory is fleeting.
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    No coin shops here... a couple of antique shops with overpriced Morgans and Peace dollars....Cheers, RickO

  • MorganMan94MorganMan94 Posts: 1,330 ✭✭✭✭✭

    @No Headlights said:
    We have a great local shop in Cedar Rapids, Iowa run by a young gentleman that treats people fairly and with courtesy. He has a very nice selection of a wide array of coins and some currency. If you are close it’s worth the trip. All American coins and Bullion. Alex Ralston is the owner. I have always felt welcome. Hope he stays in business

    Absolutely agree, my favorite shop in the state. I have never had a negative experience there and when watching him buy he offers very fair prices.

  • thebeavthebeav Posts: 3,744 ✭✭✭✭✭
    edited September 18, 2019 5:32AM

    @jmlanzaf said:

    @PerryHall said:
    The low ball offer on one of your coins is unfortunately all too often typical of coin shops.

    There is no coin shop in Rochester NY that would offer $1300 for a 63 $20. There's a few pawn shops, but no coin shops.

    Isn't 'Tower' still going ?
    Not that they're 'low-ball' people......

  • jmlanzafjmlanzaf Posts: 31,614 ✭✭✭✭✭

    @thebeav said:

    @jmlanzaf said:

    @PerryHall said:
    The low ball offer on one of your coins is unfortunately all too often typical of coin shops.

    There is no coin shop in Rochester NY that would offer $1300 for a 63 $20. There's a few pawn shops, but no coin shops.

    Isn't 'Tower' still going ?
    Not that they're 'low-ball' people......

    John Bauer's place? They went bankrupt almost 20 years ago.

  • Bullet01Bullet01 Posts: 95 ✭✭✭

    I'm lucky enough to have a great shop here in York, Pa. Fair enough prices on most items and they give me excellent quotes on coins I have for sale. They take the time to discuss things and are very down to earth. The shop is always busy and sometimes find myself waiting in a line if you can believe that!

    Now there were other shops I've been to, and been to only once. Owners come off snobby, short, and frankly seem to been in the game way too long and lost all self awareness to common collectors. Not great, especially if I wanted to introduce my kid to the hobby. Sometimes you can tell right off the bat when a dealer has been in his own bubble for awhile and caters to a select few clients that I guess keep him in business.

  • maplemanmapleman Posts: 1,052 ✭✭✭✭✭

    PM sent.> @Bullet01 said:

    I'm lucky enough to have a great shop here in York, Pa. Fair enough prices on most items and they give me excellent quotes on coins I have for sale. They take the time to discuss things and are very down to earth. The shop is always busy and sometimes find myself waiting in a line if you can believe that!

    Now there were other shops I've been to, and been to only once. Owners come off snobby, short, and frankly seem to been in the game way too long and lost all self awareness to common collectors. Not great, especially if I wanted to introduce my kid to the hobby. Sometimes you can tell right off the bat when a dealer has been in his own bubble for awhile and caters to a select few clients that I guess keep him in business.

  • ChrisH821ChrisH821 Posts: 6,293 ✭✭✭✭✭

    If there isn't a "peanut gallery" of old men hanging out in there, is it really a coin shop?

    Collector, occasional seller

  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭

    Your experience sounds like the ones I have had when I asked a pawn shop about the coins they have. The way some of them act, it's hard to figuare out how they stay in business.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • tommy44tommy44 Posts: 2,190 ✭✭✭✭✭

    @jmlanzaf said:

    @PerryHall said:
    The low ball offer on one of your coins is unfortunately all too often typical of coin shops.

    There is no coin shop in Rochester NY that would offer $1300 for a 63 $20. There's a few pawn shops, but no coin shops.

    That's a shame. When I left in June of 1975 there was a very vibrant coin community. The RNA was very active, monthly shows were held near the airport, annual "or semi-annual) at the dome, monthly in Cheektowaga just a short drive away. Probably a dozen or more coin shops and at least as many vest-pocket dealers within a twenty mile radius.

    Just checked my records and I still have several $5 libs that I purchased when I lived there from the following in no particular order, Tower (John Purcell?), Lyle Dupree, Dave Bates, Woody Snyder, Joe Piazza, Joe Kuhnert, Walt Young, Russ Jones, Royalty, Dave Katz, Andy Harkness. Foreign crowns or gold from Willow Wee, Jay Berlove, Richard Casey, "Ragu" George (don't remember his last name but he was a tomato buyer for Ragu).I'm sure I'm leaving some out but these are the ones I bought from where I still own the coins.

    The two I really bought a ton of stuff from were Joe Kuhnert who has passed away and Dave Bates who had a upstairs shop southeast of downtown. If anyone knows if he is still around I would love to get in touch with him.

    Sorry for rambling but it just seems sad that the market in Rochester is no longer what it was.

    it's crackers to slip a rozzer the dropsy in snide

  • jmlanzafjmlanzaf Posts: 31,614 ✭✭✭✭✭

    @tommy44 said:

    @jmlanzaf said:

    @PerryHall said:
    The low ball offer on one of your coins is unfortunately all too often typical of coin shops.

    There is no coin shop in Rochester NY that would offer $1300 for a 63 $20. There's a few pawn shops, but no coin shops.

    That's a shame. When I left in June of 1975 there was a very vibrant coin community. The RNA was very active, monthly shows were held near the airport, annual "or semi-annual) at the dome, monthly in Cheektowaga just a short drive away. Probably a dozen or more coin shops and at least as many vest-pocket dealers within a twenty mile radius.

    Just checked my records and I still have several $5 libs that I purchased when I lived there from the following in no particular order, Tower (John Purcell?), Lyle Dupree, Dave Bates, Woody Snyder, Joe Piazza, Joe Kuhnert, Walt Young, Russ Jones, Royalty, Dave Katz, Andy Harkness. Foreign crowns or gold from Willow Wee, Jay Berlove, Richard Casey, "Ragu" George (don't remember his last name but he was a tomato buyer for Ragu).I'm sure I'm leaving some out but these are the ones I bought from where I still own the coins.

    The two I really bought a ton of stuff from were Joe Kuhnert who has passed away and Dave Bates who had a upstairs shop southeast of downtown. If anyone knows if he is still around I would love to get in touch with him.

    Sorry for rambling but it just seems sad that the market in Rochester is no longer what it was.

    I may have mislead you in what I was saying. There are still coin shops in Rochester, including a couple really nice ones. There are none that would lowball a 63 $20 like that.

    Andy Harkness is still around, I see him every week. Most of the others are either dead or moved away. Dave Bates was partners with Andy Hale, if I recall correctly. I believe both have passed away. Andy Hale definitely has. Bates stopped being involved probably 25 years ago.

  • MFeldMFeld Posts: 11,920 ✭✭✭✭✭

    @oih82w8 said:
    The buyer has the right to be "particular" (no spots, no chatter, etc...)...but they should sell the same quality they are demanding. I encountered one dealer who had pretty high expectations for coins that he wanted buy, but the coins he had for sale did not reflect his buy standards.

    Why shouldn’t he have whatever standards he chooses for both buying and selling?

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • tommy44tommy44 Posts: 2,190 ✭✭✭✭✭

    @jmlanzaf said:

    @tommy44 said:

    @jmlanzaf said:

    @PerryHall said:
    The low ball offer on one of your coins is unfortunately all too often typical of coin shops.

    There is no coin shop in Rochester NY that would offer $1300 for a 63 $20. There's a few pawn shops, but no coin shops.

    That's a shame. When I left in June of 1975 there was a very vibrant coin community. The RNA was very active, monthly shows were held near the airport, annual "or semi-annual) at the dome, monthly in Cheektowaga just a short drive away. Probably a dozen or more coin shops and at least as many vest-pocket dealers within a twenty mile radius.

    Just checked my records and I still have several $5 libs that I purchased when I lived there from the following in no particular order, Tower (John Purcell?), Lyle Dupree, Dave Bates, Woody Snyder, Joe Piazza, Joe Kuhnert, Walt Young, Russ Jones, Royalty, Dave Katz, Andy Harkness. Foreign crowns or gold from Willow Wee, Jay Berlove, Richard Casey, "Ragu" George (don't remember his last name but he was a tomato buyer for Ragu).I'm sure I'm leaving some out but these are the ones I bought from where I still own the coins.

    The two I really bought a ton of stuff from were Joe Kuhnert who has passed away and Dave Bates who had a upstairs shop southeast of downtown. If anyone knows if he is still around I would love to get in touch with him.

    Sorry for rambling but it just seems sad that the market in Rochester is no longer what it was.

    I may have mislead you in what I was saying. There are still coin shops in Rochester, including a couple really nice ones. There are none that would lowball a 63 $20 like that.

    Andy Harkness is still around, I see him every week. Most of the others are either dead or moved away. Dave Bates was partners with Andy Hale, if I recall correctly. I believe both have passed away. Andy Hale definitely has. Bates stopped being involved probably 25 years ago.

    Thanks, my bad, I thought you were saying no one would offer as much as $1300. I do remember Andy also.

    it's crackers to slip a rozzer the dropsy in snide

  • jmlanzafjmlanzaf Posts: 31,614 ✭✭✭✭✭

    @MFeld said:

    @oih82w8 said:
    The buyer has the right to be "particular" (no spots, no chatter, etc...)...but they should sell the same quality they are demanding. I encountered one dealer who had pretty high expectations for coins that he wanted buy, but the coins he had for sale did not reflect his buy standards.

    Why shouldn’t he have whatever standards he chooses for both buying and selling?

    I'm not sure we have to give him different standards. It might be more about product placement. If I have a 1913 Liberty Nickel to sell, I'm not putting it in my display case at the local B&M. Of course, that's reduction ad absurdum, but the principle applies to all segment of the markets. If I buy 66 CAC $20 Saints, I might have them in the case as long as it takes to find a better venue for it, but I probably have a bigger market for "bullion-level" $20s in the shop.

  • jmlanzafjmlanzaf Posts: 31,614 ✭✭✭✭✭

    @tommy44 said:

    @jmlanzaf said:

    @tommy44 said:

    The two I really bought a ton of stuff from were Joe Kuhnert who has passed away and Dave Bates who had a upstairs shop southeast of downtown. If anyone knows if he is still around I would love to get in touch with him.

    Sorry for rambling but it just seems sad that the market in Rochester is no longer what it was.

    I may have mislead you in what I was saying. There are still coin shops in Rochester, including a couple really nice ones. There are none that would lowball a 63 $20 like that.

    Andy Harkness is still around, I see him every week. Most of the others are either dead or moved away. Dave Bates was partners with Andy Hale, if I recall correctly. I believe both have passed away. Andy Hale definitely has. Bates stopped being involved probably 25 years ago.

    Thanks, my bad, I thought you were saying no one would offer as much as $1300. I do remember Andy also.

    Do you remember Ursula who worked for Bates-Hale? German accent? She retired about 10 years ago. She turns 90 this year.

  • MFeldMFeld Posts: 11,920 ✭✭✭✭✭

    @jmlanzaf said:

    @MFeld said:

    @oih82w8 said:
    The buyer has the right to be "particular" (no spots, no chatter, etc...)...but they should sell the same quality they are demanding. I encountered one dealer who had pretty high expectations for coins that he wanted buy, but the coins he had for sale did not reflect his buy standards.

    Why shouldn’t he have whatever standards he chooses for both buying and selling?

    I'm not sure we have to give him different standards. It might be more about product placement. If I have a 1913 Liberty Nickel to sell, I'm not putting it in my display case at the local B&M. Of course, that's reduction ad absurdum, but the principle applies to all segment of the markets. If I buy 66 CAC $20 Saints, I might have them in the case as long as it takes to find a better venue for it, but I probably have a bigger market for "bullion-level" $20s in the shop.

    Good point.

    And of course he might have already had plenty of stuff that didn’t live up to high standards.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • ReadyFireAimReadyFireAim Posts: 1,800 ✭✭✭✭✭

    @philographer said:
    Actually it’s been about 9 years since I was in a coin shop.

    A lot longer for me & the next time is probably never.

  • thebeavthebeav Posts: 3,744 ✭✭✭✭✭

    @jmlanzaf said:

    @thebeav said:

    @jmlanzaf said:

    @PerryHall said:
    The low ball offer on one of your coins is unfortunately all too often typical of coin shops.

    There is no coin shop in Rochester NY that would offer $1300 for a 63 $20. There's a few pawn shops, but no coin shops.

    Isn't 'Tower' still going ?
    Not that they're 'low-ball' people......

    John Bauer's place? They went bankrupt almost 20 years ago.

    oh, now that you mention bankruptcy, I think I remember that......
    I used to deal with him 30 plus years ago. I loved the coin shows at 'The Dome'......

  • tommy44tommy44 Posts: 2,190 ✭✭✭✭✭

    @jmlanzaf said:

    @tommy44 said:

    @jmlanzaf said:

    @tommy44 said:

    The two I really bought a ton of stuff from were Joe Kuhnert who has passed away and Dave Bates who had a upstairs shop southeast of downtown. If anyone knows if he is still around I would love to get in touch with him.

    Sorry for rambling but it just seems sad that the market in Rochester is no longer what it was.

    I may have mislead you in what I was saying. There are still coin shops in Rochester, including a couple really nice ones. There are none that would lowball a 63 $20 like that.

    Andy Harkness is still around, I see him every week. Most of the others are either dead or moved away. Dave Bates was partners with Andy Hale, if I recall correctly. I believe both have passed away. Andy Hale definitely has. Bates stopped being involved probably 25 years ago.

    Thanks, my bad, I thought you were saying no one would offer as much as $1300. I do remember Andy also.

    Do you remember Ursula who worked for Bates-Hale? German accent? She retired about 10 years ago. She turns 90 this year.

    Now that you mention it I think I do remember her.

    it's crackers to slip a rozzer the dropsy in snide

  • Cougar1978Cougar1978 Posts: 7,541 ✭✭✭✭✭
    edited September 18, 2019 7:26PM

    No -

    Bust halves can be an expensive specialty coin. Many walking into shop can’t afford these or care about them. If they have brownish, dark crusty tarnish forget it. Friends shop might have some Vg-xf slabbed ones in showcase for type around CW Trends. I sold my last one ages ago from online store a nice 1812 slabbed vf retailed within a week nice profit. Tough coin.

    At his shop there will be junk bins of cheap coins in 2/2. Stacks of raw ASE and AGE laid out like treasure. There may be some USGTC, common dollars and walkers plus some Commems for say bid plus 25-30 pct. Friends shop most popular seller were world coins six for a dollar in 2/2 nicely labeled. He says he pays 60-80 pct CDN bid for slabbed coins and flip from his table at shows 90-95 pct bid mainly to dealers. “Current market conditions (lack of upward significant bid movement in sheet) drive this.” He also said “they only gonna get 20 backa bid at auction because of juice and shipping or less it’s their choice sell to me my price or take their chances at auction” He then flipped to me 4 Texas PCGS 65 Commems at $155 each / bid is $175, MV sell is about $230. These strong sellers both online and shows.

    Customers going bonkers over BU silver bullion 1oz Coins Mexico Libertads, Somolia Elephant, Armenia Noah’s Ark, Niue Star Wars.

    So Cali Area - Coins & Currency
  • KccoinKccoin Posts: 1,086 ✭✭✭✭✭

    the shop sort of sounds like a "buying location" , as opposed to a "coin shop" .

  • SeattleSlammerSeattleSlammer Posts: 9,953 ✭✭✭✭✭

    $1300 is a horrible lowball offer for a common date MS63 Saint widget?

    It may be a tad low, but it’s by no stretch a hose job.

  • MFeldMFeld Posts: 11,920 ✭✭✭✭✭

    @SeattleSlammer said:
    $1300 is a horrible lowball offer for a common date MS63 Saint widget?

    It may be a tad low, but it’s by no stretch a hose job.

    An offer of less than 90% of melt value for a widely traded, highly liquid coin sounds worse than “a tad low” to me.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • SeattleSlammerSeattleSlammer Posts: 9,953 ✭✭✭✭✭
    edited September 18, 2019 9:00PM

    Nah, it’s just a tad low. Not many dealers would disagree with a straight face.

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    My experience was that "collectors" wouldn't pay anywhere near what my ....dealer..outlets would.
    So, other than a "buy" place I only opened the doors to .....process....the, uh, mmmmmm..visitors.

  • Cougar1978Cougar1978 Posts: 7,541 ✭✭✭✭✭
    edited September 19, 2019 12:36PM

    I have found coin shop offers can vary based on the particular dealership and impact of market conditions.

    For me if operating one quick inventory turnover, competitive prices, good cash flow, positive experience for customers important.

    The 2 major shops near me (recommended) US Coins on Katy Fwy (Kenny) and Royal Coins.

    So Cali Area - Coins & Currency
  • WCCWCC Posts: 2,349 ✭✭✭✭✭

    Last time I was in a coin shop was in late 2016. Sold bullion to Larry Jackson. I presume he has good inventory as a PNG dealer but I didn't ask.

    Prior to that in 2011 in Phoenix, AZ to sell junk silver. Inventory appeared ok, similar to what I saw in most LCS when starting out as a YN in 1975.

    Prior to that was in Helen, GA round 2006. This shop had really nice inventory (for collector of US coinage) but I'm not sure they sold much to walk-in customers. It's a tourist destination.

    Other than eBay which is still very infrequent, I hardly even buy from on-line dealers because almost none of them have anything I want to buy, ever. The chances that any LCS will ever have anything I want to buy is effectively zero. More recently (late 2017 to early 2018), I bought four pillars from CRO but they are one of the few I actively follow.

  • keetskeets Posts: 25,351 ✭✭✭✭✭

    The buyer has the right to be "particular" (no spots, no chatter, etc...)...but they should sell the same quality they are demanding.

    this is a knife that cuts both ways. there seem to be plenty of members here who put a high expectation on the quality and sheer number of good coins that should be available to them in Coin Shops and Pawn Shops, yet there are many who take "junk" to these same locations. Coin Shops in general and Pawn Shops in particular have become a dumping ground for the Hobby. collectors created the mess they like to complain about.

  • CoinscratchCoinscratch Posts: 7,807 ✭✭✭✭✭

    @Cougar1978 said:
    I have found coin shop offers can vary based on the particular dealership and impact of market conditions.

    For me if operating one quick inventory turnover, competitive prices, good cash flow, positive experience for customers important.

    The 2 major shops near me (recommended) US Coins on Katy Fwy (Kenny) and Royal Coins.

    Thanks! I'll have to check those out. I keep hearing US Coins advertising on the radio but, haven't made it over there yet.

  • thebeavthebeav Posts: 3,744 ✭✭✭✭✭

    Another problem with having a shop was dealing with those that treated it like some type of museum. "Oh, that's what a doubled die looks like"..." Ok, do you have a blah,blah....? "....
    I had a lot of that kind of stuff. Over the years, I had to develop, almost a questionairre, to determine how serious some stranger may be about seeing something in particular.

  • MFeldMFeld Posts: 11,920 ✭✭✭✭✭

    @CoinscratchFever said:

    @Cougar1978 said:
    I have found coin shop offers can vary based on the particular dealership and impact of market conditions.

    For me if operating one quick inventory turnover, competitive prices, good cash flow, positive experience for customers important.

    The 2 major shops near me (recommended) US Coins on Katy Fwy (Kenny) and Royal Coins.

    Thanks! I'll have to check those out. I keep hearing US Coins advertising on the radio but, haven't made it over there yet.

    U.S. Coins in Houston is about as good as it gets for a local dealer. I strongly recommend them and that's something you will rarely hear me say.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • keetskeets Posts: 25,351 ✭✭✭✭✭

    two Women came into the shop yesterday. they had a lot of questions about Doubled Dies, OMM and stuff like that. I answered questions and one of them kept saying "I need to study and learn more" as I tried to help in that direction. I showed them a CPG but said we had none for sale, showed them a copy of "PhotoGrade" which we have copies of and the didn't buy one. apparently they want to be taught but aren't willing to learn.

    there comes a point when time at the counter is "wasted time" and I am probably there with these two. they have been in a few times and yesterday was an example of how it usually goes.

    another aspect touched on in this thread --- members say they are infrequent customers. the state of things right now is simple to understand: things are SLOW so owners will buy and pay fair/strong if they have a home for something, otherwise you should expect a free ride on the lowball express.

    that is everybody's fault and nobody's fault, it is just the real truth about how things are right now. collectors should have fun at the multitude of shows and enjoy the leisure of shopping online in the convenience of their home. then come to sites like this in 10 years(if it's still here) and complain about Coin Shops.

    welcome to The Truth. B)

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