Wal-Mart Joins the Online Coin Market
1630Boston
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I must have missed this
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Coin shops were never as plentiful as coffee shops, diners or gas stations, but you didn't have to look far to find one in any city or town in America - even department stores had coin shops. As more and more business of all types moves online, we may be seeing the rebirth of the coin department. This Greysheet blog item from CDN Publishing (published June 14, 2019) notes a new coin section on the site of retail giant Walmart. -Editor
Walmart coin shop
It's no secret that retail giant, Wal-Mart, has been investing very heavily on its e-commerce department — waging a full-scale attack on Amazon and eBay. It's not surprising then to see them enter the numismatic fray as well. Tucked away in their "Jewelry" category, you'll find many modern world issues, proof sets, and other retail-friendly items. Are better date coins next? Currently, APMEX and SD Bullion offer items on the site. I expect we will see more in coming days, especially as this launch appears to coincide nicely with the rising bullion market.
Look close at the coin images. It's clear that these are generic photos and not images of the actual item you'll get. In place of the year on several items is a poorly Photoshopped "Random date" label. -Editor
Of course, there's no folksy coin expert to tutor newbies, and the store is only for selling bullion and common coins - the public will have to look elsewhere for less common coins or to sell their late uncle's collection.
These mass-marketing selections are driven by what the seller is able to assemble in quantity, everything from junk silver to Byzantine gold solidi. The oddest thing I saw here was the roll of silver state quarters. -Editor
To read the complete article, see:
Wal-Mart Joins the Online Coin Market (http://blog.greysheet.com/wal-mart-joins-the-online-coin-market/)
To browse the Walmart Collectible Coins Department, see:
https://www.walmart.com/browse/precious-metals/collectible-coins/3891_4718514_9744854
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Comments
IMO, the exact wrong way to build a coin selling marketplace using very common unwanted junk.
The Franklin Mint is doing the same thing.
I had a Zoom meeting with the FM in which they tried to convince me to sell my coins through their site.
I looked at the site and saw coin junk and passed on the contract they sent.
The coins in the jewelry department are better than the junk in the new site 😂
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I'm not so keen on buying some of those items labelled with "Random Year".
It'll probably work. More boxes of junk for somebody to dispose of years down the road.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
When the competition is the US Mint, they don't have to raise the bar too high.
Wow!!!
I warned people many years ago that a lot of coins are going to start selling at retail prices. With all the demand on mint sets, proof sets, and moderns there are sharply higher bids at hand. It's already been going on as the premiums on mint sets have been soaring through the roof. I don't know where the supply is going to come from since in the past the sets have always been destroyed and there just aren't that many left.
Bob Vila was selling mint sets nearly 20 years ago but this is snow balling now. And at a time that supply is under great constraint. This will put enormous pressure on the supplies of the component pieces of mint sets because these virtually don't even exist in the cases of dimes and quarters. These coins have been spent rather than put into tubes because there was no market.
Just went to the link and it looks like they struck up a deal with APMEX.
RIP Mom- 1932-2012
I have never bought coins from Walmart, but I feel as though I have been seeing them selling coins online for several years now.
Buying coins from Wal Mart seems sketchy to me
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Thanks for the link.
Walmart has a very high hill to climb to get into the coin market.
I can see Etsy listing on this site soon. lol
Wayne
Kennedys are my quest...
There actually is a need and a room for a dedicated coin marketplace.
Ebay had it, but blew it. Massive fail.
A new site could be similar to Ebay but seller friendly and hire a few experts to get rid of the junk.
No problem s d bullion and apmex have been providers for a while. I bought a ase couple years ago price was ok used my Walmart card arrived quickly and was very nice. Same with my 2012 2 coin ase set 2013 2coin ase set a Britannia and libertad. All with Walmart card and everyone really nice. And fairly priced and backed up with Walmart guarantee
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Are better date coins next? Currently, APMEX and SD Bullion offer items on the site.
Big difference between WalMart and a bullion firm. Those two presumably have staff who know numismatic coins.
I wouldn't expect WalMart to do that.
Lol. I noticed this deal (so called).
20 coin roll of Full Date Buffalo's. They want $1.50 a piece. Before shipping/tax/etc...
You know what? For $35, I might take a crack at it some day? Who knows, ya might get lucky and find a 2- feather or variety or dd? Full dates. It can't be all that bad.
I'm a guy who likes to take a risk every now and then. What the heck, right?
They might even mistakenly place a key coin inside? Too naive? Lol.
Amazon also is in the game as well.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.There down to $30.92 free shipping Jump if you can (I like it because I can use my Walmart card). $31 out the door coming from Apmex🤓
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They are probably hoping you would help them change their image!
While not ‘dedicated’ in the strict sense …. I tend to think eBay and legions of its users would disagree with you.
Walmart is not a venue I would use to find coins....True, it may be possible to cherry pick them, since I doubt they will have many - or any - real experts review the products. Although I do not know where they are procuring their coins - I would think they are getting them from sources peddling searched products and disposing of excess material. Cheers, RickO
Next, they'll be getting their inventory out of the Coinstar machine , near the exit. Bend over, children. Time for your shot.
HE>I
S d bullion and apmex supply a large amount so not much difference than buying direct. Quality is good not flipping seconds
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ill pass on the wal mart coin (it will really have to catch my attention to even look at them, jmo)
I'd have expected them to sign a deal with Alibaba.....
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Walmart will never be a rare coin marketplace and they do not want to be.
Walmart is for repeatable merchandise.
I just searched my name on Walmart and found more than 2000 products. When a product sells, I think I get about 1 cent on the dollar, not really sure
Here's a link to my search ...
https://amazon.com/s?k=Christopher+Talbot+frank&ref=nb_sb_noss
Interesting to hear this news about Wal Mart. I remember buying a proof commemorative dollar back in the 1980s from K Mart. It was the Statue of Liberty dollar, but it was in the OGP. Still have the coin. I'd buy a coin from Wal Mart if it was a good deal, but I don't see them hiring anyone with any real numismatic knowledge. One place I've seen modern counterfeits is on FB. A good deal is a good deal. but caveat emptor.
Rollback on double eagles! 10% below bid on PCGS/CAC Saints!
(Then you go to the store website, and the shelves are bare, because you know.... pandemic stuff.)
It doesn't look like WalMart is selling any coins. It appears all the listings are third party sellers. So WalMart is simply acting as a marketplace to try to connect buyers and sellers for a cut. So think more like eBay.
They are only available on line. See above post. Correct about third party
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Well they must be spending a ton on marketing. Many times when I open an ebay listing in Microsoft Edge I get a pop-up in the top right corner saying save so much percent with a walmart ad. I think it's funny because I'm usually looking at graded XF and AU's and this huge percentage savings is for a low grade, stock photo circ!
Came right around Joeycoins b-day
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