@MrEureka said:
First, your math is wrong because some collectors won't attend the show, and because some collectors will buy from multiple shops.
It wasn't meant to be an exact count, just a WAG.
@MrEureka said:
Second, even 83 buyers could be fantastic.
Could be, I suppose, if everybody who attends a coin show (you know- where the "83" count comes from) spends lots of money on coins. Do they? I bet not- what do you think?
I went into a coin shop that advertises really low prices on key dates in the national coin magazines. I had their recent ad with me and was looking forward to seeing this premium bu coin and browsing. If the coin was really”premium” bu or even bu, I planned to purchase it. Imagine my disappointment when they had no coins to browse, just ads to pick coins from. I inquired about the premium coin in the ad I had. They said they still had it. When I asked to see it, they went to the back, came back and said it wasn’t “ready” yet. I asked when it would be “ready” and they told me to come back the next day. When they learned I was from out of town and could not come back the next day, they offered to let me pat and they could ship it to me. They would not let me see it before they got it “ready”. Of course I ran. From there and never went back.
I love coin shops. Really enjoyed this thread. I’ve created a few videos on coin shops - mostly about how to have better experiences and get to the good stuff thats behind the counter.
I usually have great experience with coin shops and I mostly trust them. Got a really nice CC Ms 64 1884 Morgan PCGS a few weeks ago from a small coin shop owner. There was one shop that I didn’t have a great experience with.
There was this silver dealer with a box full of u.s silver. Every time I asked the person over the counter if I could look through it and buy some silver coins, he said I would have to wate for the store owner to come. After a few visits later and the store owner always busy I just gave up. Haven’t been back in years. That I believe is terrible customer service. If your sell silver and have silver coins that are also for sail, than why can’t I buy them ???
Here's one I just remembered. One day we were going to the coin shop...my mom and I. As we're waiting in the turn lane, our Jeep suddenly breaks down. We were stuck in the middle of THE major road in the Hudson Valley. Had to cross three lanes of traffic on foot in an area you don't want to do on foot. The Jeep had to get taken away on a flatbed, and I didn't even get to go to the coin shop. To add insult to injury, it was the day before my mom's birthday and I was going to get her a present in the shop. (They stocked small pieces of amethyst, which I got for her there a few times).
I'm not sure that counts because I never even got into the shop.
@golden said:
When I was a kid my Dad took me to a coin shop. I looked at a folder of Indian Cents. I picked out a run of common dates in Good or so. The dealer took the folder to the back room. He returned with my Indians in a brown paper bag. When I got home he had switched the 1907 and gave me a coin that had a huge cut on the obverse. I never returned to that shop. I started going to another shop and over the years spent a very good sum of money with them.
He was an idiot.
Sorry for your experience, it could have turned you off for years.
There was this coin shop 45 minutes away. I had a 1955 Double Die MS63 Brown that was graded by NGC (I sent it in myself). I wanted to sell it so I sent off an email with a high resolution image of the coin. I did this with a few coin shops (most of them quite a distance away but many had the option of sending pictures of coins through email with them making an offer if they were interested in buying). This one coin shop emailed me back saying they were interested in buying my 1955 Double Die. I believe I called them up on the phone shortly after getting their email. I sent them additional pictures of both sides of the coin and well as of the slab. They then made me an offer of $3200. They said this offer stood good for that day, so if I came that day I was fine. I got a couple other emails from the other shops with offers of $1500 and one that wasn’t buying, I decided to head out to that coin shop that offered me $3200. 45 minutes later I arrive. I show the coin to the owner. He looks at it and says “this has been cleaned” and bashes the coin. He then claims it is an entirely different coin than the one I showed in the email. I told him the serial number on the slab matches and that it is indeed the same coin. He then says “well I don’t want it” and so I leave. What a waste of time!
The coin at the time was selling for $2000 so $3200 would had been quite a lot for a dealer to pay. I believe he realized he made a big mistake after our exchange on the phone and when I showed up with the coin he tried to get himself out of a corner by making excuses so he didn’t have to keep his offer.
I've been to many a coin shop throughout the years and never really had a horrible experience. There wee some that were a wall of indifference or some rudeness, but nothing I couldn't handle.
I've had more bad experiences at shows than at shops. Not that I've had many, but they stand out far more to me. Those are tables/dealers I would just walk past after that, no matter what they had in inventory.
@Crypto said:
B&Ms have been more about buying than selling for years
For many (most?), that's the only way to stay in business.
I mentioned the following in a prior discussion but it's relevant here. The area I live in has maybe a million or so people within an hour/hour and a half drive and around half a dozen coin shops. The local coin club's annual show attracts about 500 people.
500 / 6 = 83.3
How many shops could stay in business, depending on 83 buyers?
First, your math is wrong because some collectors won't attend the show, and because some collectors will buy from multiple shops.
Second, even 83 buyers could be fantastic.
FWIW, I'd love to own a coin shop if I ever get to the point where I can't travel. I think it would be a blast, and profitable
I understand there's a location available in NYC at 123 W. 57th. Lots of spill-over crowd attracted by the excellent pizza next door
"People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
Comments
What is a coin shop?
Have not been in one since we moved south 25 years ago
OMG ... My Mother was Right about Everything!
I wake up with a Good Attitude Every Day. Then … Idiots Happen!
It wasn't meant to be an exact count, just a WAG.
Could be, I suppose, if everybody who attends a coin show (you know- where the "83" count comes from) spends lots of money on coins. Do they? I bet not- what do you think?
I went into a coin shop that advertises really low prices on key dates in the national coin magazines. I had their recent ad with me and was looking forward to seeing this premium bu coin and browsing. If the coin was really”premium” bu or even bu, I planned to purchase it. Imagine my disappointment when they had no coins to browse, just ads to pick coins from. I inquired about the premium coin in the ad I had. They said they still had it. When I asked to see it, they went to the back, came back and said it wasn’t “ready” yet. I asked when it would be “ready” and they told me to come back the next day. When they learned I was from out of town and could not come back the next day, they offered to let me pat and they could ship it to me. They would not let me see it before they got it “ready”. Of course I ran. From there and never went back.
I love coin shops. Really enjoyed this thread. I’ve created a few videos on coin shops - mostly about how to have better experiences and get to the good stuff thats behind the counter.
one time while cherrypicking some junk silver I got kidnapped and gimped in the basement for about a decade
worst coin shop experience ever
Went to a coin shop once. I guess they might not like that description?
I'm not going into that story again.
I usually have great experience with coin shops and I mostly trust them. Got a really nice CC Ms 64 1884 Morgan PCGS a few weeks ago from a small coin shop owner. There was one shop that I didn’t have a great experience with.
There was this silver dealer with a box full of u.s silver. Every time I asked the person over the counter if I could look through it and buy some silver coins, he said I would have to wate for the store owner to come. After a few visits later and the store owner always busy I just gave up. Haven’t been back in years. That I believe is terrible customer service. If your sell silver and have silver coins that are also for sail, than why can’t I buy them ???
Here's one I just remembered. One day we were going to the coin shop...my mom and I. As we're waiting in the turn lane, our Jeep suddenly breaks down. We were stuck in the middle of THE major road in the Hudson Valley. Had to cross three lanes of traffic on foot in an area you don't want to do on foot. The Jeep had to get taken away on a flatbed, and I didn't even get to go to the coin shop. To add insult to injury, it was the day before my mom's birthday and I was going to get her a present in the shop. (They stocked small pieces of amethyst, which I got for her there a few times).
I'm not sure that counts because I never even got into the shop.
He was an idiot.
Sorry for your experience, it could have turned you off for years.
BHNC #203
There was this coin shop 45 minutes away. I had a 1955 Double Die MS63 Brown that was graded by NGC (I sent it in myself). I wanted to sell it so I sent off an email with a high resolution image of the coin. I did this with a few coin shops (most of them quite a distance away but many had the option of sending pictures of coins through email with them making an offer if they were interested in buying). This one coin shop emailed me back saying they were interested in buying my 1955 Double Die. I believe I called them up on the phone shortly after getting their email. I sent them additional pictures of both sides of the coin and well as of the slab. They then made me an offer of $3200. They said this offer stood good for that day, so if I came that day I was fine. I got a couple other emails from the other shops with offers of $1500 and one that wasn’t buying, I decided to head out to that coin shop that offered me $3200. 45 minutes later I arrive. I show the coin to the owner. He looks at it and says “this has been cleaned” and bashes the coin. He then claims it is an entirely different coin than the one I showed in the email. I told him the serial number on the slab matches and that it is indeed the same coin. He then says “well I don’t want it” and so I leave. What a waste of time!
The coin at the time was selling for $2000 so $3200 would had been quite a lot for a dealer to pay. I believe he realized he made a big mistake after our exchange on the phone and when I showed up with the coin he tried to get himself out of a corner by making excuses so he didn’t have to keep his offer.
I've been to many a coin shop throughout the years and never really had a horrible experience. There wee some that were a wall of indifference or some rudeness, but nothing I couldn't handle.
I've had more bad experiences at shows than at shops. Not that I've had many, but they stand out far more to me. Those are tables/dealers I would just walk past after that, no matter what they had in inventory.
10-4,
My Instagram picturesErik
My registry sets
I understand there's a location available in NYC at 123 W. 57th. Lots of spill-over crowd attracted by the excellent pizza next door