is the internet keep the local dealer prices down?

MacCoin

on what you collect is ebay that much cheaper than what you local coin shop prices. to me they are about the same maybe the shop is a little cheaper because some of the ebay dealer ask 3.00+ to send a dime in a .10 envelope with a .37 cent stamp. lately I'm finding my best buys right here near home. I think the price of coins is more fair than it has ever been in my local shops.

MadMonk

I basically agree. I'm glad that you added the postage issue. A lot of people forget to put that into the equation. Also, return postage for dogs. This effect on prices is seen in a nice portion of the retail market as a whole, not just coins, and I feel that it's a result of the internet info hwy.
ah, beware the educated consumer. But, a NICE coin will still demand strong money.

Geoman

Good question............

I live in a "smaller city" (ie: pop. about 80,000) and there is only one coin dealer in town. So he doesn't have a lot of local competition. I have found that his prices are generally higher than I can get on the internet. I do most of my shopping on the internet, and only buy small items from the local dealer. I suppose it may differ in larger cities with more competition.

baccaruda

if you're looking for bang-for-the-buck, it's the local coin shop.

you can beat his price on ebay, but you don't know what you're gonna get. 9 times out of 10 the coin doesn't do much for me and goes in to drawer somewhere.

when i buy from the coin shop, the coin i walk out with is the one i pulled on the basis of appeal from thousands considered. sure it'll cost more but odds are that coin is going to be one that sits out and gets lots of attention - not to mention the archaic notion of interaction with another human being

bottom line is ebay will be cheaper, but in the end you get what you pay for.

agfox

Something on the flip side of this arguement, I'm seeing a lot of dealer web sites quoting figures from the past FUN sale. I've seen some coins in the same class as the "stupid money coins" going up and a small reference to increased comsumer demand recently seen at Orlando, FL. My local dealer is staying put at the moment, but I doubt that'll last long if Ebay and internet dealers start reflecting on those prices realized at FUN.

MadMonk

<< <i>I'm seeing a lot of dealer web sites quoting figures from the past FUN sale. I've seen some coins in the same class as the "stupid money coins" going up and a small reference to increased comsumer demand recently seen at Orlando, FL. My local dealer is staying put at the moment, but I doubt that'll last long if Ebay and internet dealers start reflecting on those prices realized at FUN. >>



I see that as "Market Making". Of course with exceptions, An excuse for you to spend big money for a lot of "flukes" (state quarters for instance). I know what I want to collect. I stick to my guns.
If they get too expensive, I stop/get lower grades/SELL! depending on my emotional attachment.
I really don't give a hoot about a pr70dcam penny. Sure, it's rare, but don't try to convince me that it makes others worth more. Thats why I stick to the classics; less unknowns

SarasotaFrank

I prefer to buy locally and have a number of resources to do so.

However, a simple messga eon BST can get me just about anything I want from a board member, at a reasonable proce, with a return guarantee, and I am establishing new relationships in the hobby.

Ebay would be my last resort. I have yet to list a coin on ebay, although I buy there when the price is right.

laserart

Mac, other than the shop in Lewiston what other shop do you go to? the one in Hallowell?

cladking

e-bay is great for buying and selling lots of coins. Especially when precision in
grading isn't necessary, or it's a coin of interest to only a few specialists. But
it can never entirely replace the coin shop or the show. Most coin shops now do
have an internet presence and sell some of their coins in cyber-space. It also
appears they are starting to do a little more buying on the net.

shirohniichan

It's really hit and miss. Sometimes I get great prices on coins I buy and sell on eBay, and other times I do better buying and selling off the local bid board.

The great thing about buying from the shop is not getting any unpleasant surprises (i.e. buying sight-seen).

airplanenut

I think the prices online are a little bit lower, but remember what you get at the shop... you get to see the coin in your hand, you get to chat about coins, and you get to build a relationship with a dealer- those 3 things may very well be worth the extra price you pay.

Jeremy

PS- Time to get back to the dealer in my town... haven't been able to see him for a while, even though I have gotten to another nearby one...

Clankeye

<< <i>The great thing about buying from the shop is not getting any unpleasant surprises >>



When I was new to this Shiro, I bought an 1893-S Morgan dollar at a coin store only to discover when I got it home that it was very slightly bent. It was an unpleasant surprise. But then I'm very slightly bent. Needless to say, Mr. Bombay paid that shop a visit later.

Carl

dorkkarl

i say that better than the internet or the local dealer is simply making coins yourself.

K S

Oak

Ebay: Rarely use it to buy unless seller is a boardmember here.

BST board: My prefered source for nice coins.

Coinshows: Rarely get to make one. Usually find something to take home when I can go.

Local Dealers: Oh boy, here we go. Of the three coin dealers in our city, none like to deal in certified material. Two typically over grade and over price their coins but may be willing to haggle if you're willing to play that game. I'm not. I don't mind negotiating a price a little bit one way or another, but haggling just to get close to a reasonable price takes the enjoyment out of collecting. An example from each of these dealers is one was selling a raw 79cc as AU and had an ask price of $835. It was XF40 at best and a $300+ coin. The other dealer of the two dealers mentioned had an 80s with a MS66+ DMPL reverse and a MS62 obv. His ask price was $300!!!! He told me that it was a rare and valuable coin with a reverse like that. I didn't return a comment. Once someone insults my inteligence like that, I can't do business with them. I'll never trust them and no transaction can be enjoyable due the constant feeling of mistrust. The third dealer I believe to be a very honest and fair man. I base that opinion on several interactions I've had with him. Unfortunately, he views third party grading as an unwelcome addition to the hobby. Sorry, but I'm not willing to pay a premium and pluck down $300+ for a coin that has not been certified because if the time comes for me to resale, I need that certification to get a reasonable price.

Steve27

Local dealer: I never buy there, it's way too expensive (even for supplies).

Local coin show: Cheaper and better than eBay for common date raw material, and sometimes for key dates.

eBay: Cheaper for slabbed material and pseudo-key dates (purchased a slabbed 1973-D Ike for less than a raw one would have cost me at the local show).

kaleidoscopic

I think, if anything, the internet has brought distant dealers to your door. As for prices, its hard to say. Depends on the coin, how bad do you want the coin.
The trade-off is seeing the coin in hand as opposed to maybe saving a little money buying over the net. Add in shipping costs against having to pay sales tax. Make sure the coin is OK. Then, the issue of returns come up.
I can't seem to take a stand it appears. Ah, hell. Kscope

Merc

My local dealer is nice enough, but I've never bought a coin from him. All of my coins are better than what he is selling. The guy is a PCGS/NGC dealer but rarely has any slabbed coins for sale. I buy supplies from him since there are no shipping charges. He knows about ebay and tells me to be careful there and to avoid certain slabbing companies.

A local club show in downtown Orlando gave me some good deals but everything was too high for me at the FUN show.