Coin Shop Etiquette

Aethelred · April 20, 2004 12:37PM

For a collector to be successful, I believe that it is critical to establish a close working relationship with one or more dealers. If you have the good fortune of having a dealer in your local area, you should work especially hard at establishing this relationship as it will pay off in ways that you might never expect. If you want your name at the top of the list when that special coin you have been looking for comes it (and you do, because if you are looking for it so are others), if you want to be offered deals that strangers don't get, or if you want to be offered things that might not be on display, you want you dealer to want to help you!

One of the biggest way to develop a close relationship with your local dealer is simply by not being a pain in his/her butt! Here are several tips that should be obvious, but sadly are not:

1. If you are looking at a tray of coins always keep your hands in plain sight and never step away from the counter or turn your back while holding a coin. We want to trust you and will give you the benifit of the doubt! If you are not happy with the lighting, just ask if you can walk over to a window or better light with the coin.

2. DON'T EVER offer to buy or sell with another customer while in the shop! I can't stress this enough! Your dealer has bills to pay and works on a very thin margin, if you take business away from him in this manner don't expect to be welcome to return. The same applies to following a customer out of the shop to attempt a deal. A few weeks ago we had a pair of now ex-customers who met in our shop sitting outside on the steps making a deal on some silver dollars, I went outside, confronted them and informed them in the strongest terms that thay were not to return to the shop!

3. If you bought something from eBay or the shop across town, don't tell your dealer about it unless you want to sell it or need us to remove it from your want list.

4. If you just came by to visit or ask a question, that is fine chances are we like you, but don't take time away from people who are doing business with us. It might also be good form to buy just a little something.

5. Don't give other customers advice or ask them questions they might not want to answer or consider personal.

6. If you ask for advice or an opinion, don't argue about it when it is given, this really sets us off!

7. If you offer to sell something and are not happy with the offer made, smile and say "I think I'll hold on to it for now, but thank you very much for your time." DON'T ask for more or say something like "the book says it is worth $xx.xx." Beileve me, chances are good we have a better idea of what "the book says" than you do AND MORE IMPORTANT we know what we can sell it for, "the book" does not buy coins!

8. Don't ever walk behind the dealer's counter unless asked at that time to do so! Don't assume because you were asked back last week that it is o.k. this week.

9. If you put an item on lay-away or order something, BUY IT! It might be something we could have sold to someone else, or if it is not in stock and we have to order it there may be a good reason we don't stock it!

10. Don't assume just because the shop is not full of people that your dealer is not busy and has time to chat about the football game yesterday. Our time is very valuable and there are a lot of demands on it.

11. If someone is selling something don't look over their shoulder or talk to them and NEVER pick up what they are selling, it makes them and us very uneasy!

12. Don't argue about how something is graded, if you don't agree with the grade, don't buy it!

13. If you are looking for something, let us know exactly what it is. If you need a 1916-D Dime in VF don't just say "Call me if you get a 1916-D Dime," we need you to be specific, it shows us you are serious and we'll bend over backwards to find it for you!

Follow these rules and you'll find that before you know it you are getting the red carpet treatment!

spinaker2000 · April 20, 2004 12:58PM

Bad day at the office Mikey??

Otherwise, good advise.

Aethelred · April 20, 2004 1:09PM

<< Bad day at the office Mikey??

>>

I'm getting over it now!

ccrdragon · April 20, 2004 1:17PM

Very good advice! I am in the process of cultivating just such a relationship with the local dealer here. It has gotten to the point now that he knows me on sight and most of the time he even remembers my name (even at shows when there are a lot of people around vying for his attention!). I have also given him a lot of business (well, a lot being relative as I do not have the high stakes budget that some people have).

Aethelred · April 20, 2004 1:23PM

Cecil, your budget does not matter! I am sure your dealer appreciates you more for being polite and showing courtesy than for the amount of money you throw around. There are some people who spend big bucks and I do everything I can to get them out of the shop as soon as possible because they are jerks, while others who don't have a lot to spend are a pleasure to be around and will get as much of my time as I am able to give.

CIVITAS · April 20, 2004 2:50PM

Yikes. Sounds like you had a "fun" day at the shop today...... I know how those can be.

Cecil, I'll echo Aethelred in that budget doesn't matter when you're there with a purpose in mind and you're a generally pleasant person to deal with. I'd rather have a customer who comes in for twenty minutes and spends twenty bucks than someone who spends two hours and $120.00.

farthing · April 20, 2004 5:08PM

Having meet Josh and seen the type of coins he stocks I somehow cannot imagine limiting myself to either 20 minutes or $20 at his shop!

Philip · April 20, 2004 6:08PM

Note to self: apologise to dealer for wasting one hour last time around and spending about $2.

Buy the Nurnberg 20 Kreuzer you asked him to keep for you.

wybrit · April 20, 2004 8:50PM

Great thread, aethelred. I think you should post this on your website for posterity.

I know I've been guilty of crimes #2, #7 and #12. I have learned from all of those errors.

I still have a really tough time wrestling with #12 though, I confess. I can't stand gross overgraders who offer a VF coin as gEF and then charge 50% of the higher value to make it look like you're getting a deal.

I dealt with one guy in Colorado who was incredibly pleasant. I bought some of his better coins and had a great rapport with him. He went out of his way to help me. Sadly, when I moved here to the tundra it turned into a mail order relationship that was a disaster. I ordered a boat load of "UNC" coins from him and every coin was overgraded - every single one! I tried to be as diplomatic as possible in making the return, but that sad chapter ended the dialogue. He sent back a refund check with no note and that was that.

ccrdragon · April 20, 2004 9:50PM

I have done something like #3 - bought a coin at a show and showed it to my fav dealer (was that wrong?!?!), but at the same time, I was dropping $400 at his table.

Other than that, I don't think I have violated any of the rules. I am a fairly private person by nature and most of the stuff that is listed in these rules just comes naturally to me - things like invading another person's space or interrupting another transaction are just things that I won't do (and it really pisses me off when people do it to me).

CIVITAS · April 21, 2004 1:26AM

I never have a problem with my good customers showing me something they added to their collection. They don't have to buy EVERY coin from me. Just most of 'em.

The times where it is bothersome is when customers who rarely spend a dime here, bring by all the coins that they bought as overgraded and overpriced from other dealers to ask my opinion on them.

wybrit · April 21, 2004 8:15AM

The times where it is bothersome is when customers who rarely spend a dime here, bring by all the coins that they bought as overgraded and overpriced from other dealers to ask my opinion on them.

Did farthing do that again?

But seriously, that sounds like another rule to add to the list. That's pretty lame behaviour.

Aethelred · April 21, 2004 9:41AM

<< The times where it is bothersome is when customers who rarely spend a dime here, bring by all the coins that they bought as overgraded and overpriced from other dealers to ask my opinion on them. >>

That is pretty much what I am talking about, Josh just worded it better than me!

ColinCMR · April 21, 2004 10:18AM

This is my very favorite tip:

<< we know what we can sell it for, "the book" does not buy coins! >>

Severo · April 21, 2004 7:16PM

Being a customer, not a dealer, I agree with most of what Aethelred said, but I have a few comments:

<< 3. If you bought something from eBay or the shop across town, don't tell your dealer about it unless you want to sell it or need us to remove it from your want list. >>

Why? I understand that the dealer may find it unpleasant to hear that I bought that particular coin elsewhere for a better price, but this also may make him adjust his pricing policy a little. He'll probably benefit even from this kind of knowledge of the market.

<< 6. If you ask for advice or an opinion, don't argue about it when it is given, this really sets us off! >>

Yes, but the customer may ask the dealer to state his opinion (that's not argueing). And the latter may want to do so if he can.

<< 12. Don't argue about how something is graded, if you don't agree with the grade, don't buy it! >>

Same as #6... I think it's ok to ask a dealer why he believes the coin grades so and so. He should be able to prove that his grade is right.

drjules · April 22, 2004 2:26AM

Great advice

The only problem I have with my local coin shop is they are only open 10-4, Monday to Friday and that coincides with the time I am (supposed to be) working

I have got to know dealers better through repeat business at shows than through regular shops visits.

I find it a little awkward going into a shop where they don't have much on display, only to ask them about something and then go "oh I was only browsing", which is avoided at most shows as much more of the dealers wares are on display.

Dr J

Sylvestius · April 22, 2004 4:33AM

I'll admit, i've been guilty of #3 but only when complaining about ebay, and how bad it is, so i guess that's a good thing.

And #10 is my biggest sin, i'm a bit of a talker and i once spent an hour and a half in the shop.

Half an hour before i decided which coin i actually wanted to buy and about an hour afterwards just talking about coins, and whilst doing this looking at every other coin in sight. (and some that weren't).

First thing i usually ask as soon as i get to the counter is, 'have you got any early milled sixpence in about VF in?' so he goes and finds the few he has, sometimes i buy them, sometimes i buy something else i happen to come across whilst looking at everything else in the shop. (and i always look at the guineas, although i haven't bought one yet! And the Gotrhic Crown, that will have gone by now i think.)

No stone unturned!

(but i only go about once a month if that, sometimes twice).

haven't been since january (went three times then), so i'm due a trip there sometime next week!

coinkat · April 22, 2004 9:27AM

Aethelred...

I agree with the vast majority of what you said. It really boils down to common sense. Sometimes knowing some rules in advance helps. I visited a coin store and was told the prices on the coins were final an not to even make an offer. While I may not agree with that type of a policy, I was told in advance before I looked at a single coin. It has limited what I buy, but as strange as this is going to sound, I have never left this store feeling that I overpaid for a coin... this teaches a little discipline which is not a bad thing. My idea of discipline is alittle different... Look at different types of coins, not just the want list, because you just may find a coin you don't appreciate until you see it.

ajaan · April 22, 2004 9:37AM

The converse can be true to a lot of what you posted Michael. I hate it when dealers threat me like an idiot who knows nothing about coins, that is, they are playing me as a fool. Some dealers need to realize there are collectors out there who know more about a certain coin type then they do. Don't tell me this British coin is Proof when I know full well it is not. Don't tell me all the coins of this type are bent when I have a non-bent one in my collection. Treat me like an intelligent person and I'll do the same to you.

Aethelred · April 22, 2004 9:52AM

There are rules a collector should expect his dealer to follow as well, perhaps I'll post a list after I get some work done.

Short list of my rules:

1. All customers should be treated with respect without regard to gender, age, race, dress or economic status (unless they are from western NY and named Don).

2. Use the same pricing standards should be used for all customers. Good customers might get a "better deal," but no customer should pay more or be offered less just because they don't know any better!

3. Tell the truth 100% of the time, even if it is not what the customer wants to hear!

4. Say "thank you" and smile after every transaction.

5. Never say "I'll do......." unless I know I can do it!

ajaan · April 22, 2004 9:59AM

<< (unless they are from western NY and named Don). >>

My Uncle Don and cousin Don won't like this one bit. Get anymore Canadian into that shop of yours?

laurentyvan · April 23, 2004 5:33AM

Oh Mortus Rex, I showed a printout of this thread to my local coinshop and they had a real hoot.

Civitas- they'd disagree with you on this point-I'd rather have a customer who comes in for twenty minutes and spends twenty bucks than someone who spends two hours and $120.00. 'Course, it would depend on the personality of the buyer.

danglen · April 23, 2004 8:07AM

If I have your permission I think I'll post this in my shop

.

Aethelred · April 23, 2004 8:38AM

<< If I have your permission I think I'll post this in my shop

. >>

Please feel free!

CIVITAS · April 23, 2004 8:39AM

<< Civitas- they'd disagree with you on this point-I'd rather have a customer who comes in for twenty minutes and spends twenty bucks than someone who spends two hours and $120.00. 'Course, it would depend on the personality of the buyer. >>

Depends on the shop too. From my perspective, 20 minutes is a fairly worthless amount of time. I'll gladly take $20.00 for my time. Two hours is rather significant. In that same two hours I can photograph and list several thousands of dollars worth of stuff online (oftentimes netting that same $120.00 in immediate sales of newly listed coins). My net gain is all the other coins I've placed online in addition to that $120.00 worth (or more) that sells nearly immediately.

SYRACUSIAN · April 23, 2004 9:08AM

I understand these rules, I've been guilty of crimes to quite a few of them,
but today I've had the most unpleasant experience with the very same person who taught me these rules.
A dealer of the same age as me who actually introduced me to numismatics.

Sad don't you think? By the end of May, I'll know the final cost of my tutorial.I'll keep you updated.

Aethelred · April 23, 2004 9:22AM

Dimitri,

This guy has treated you in a very unprofessional and unfair manner! If a buyback promise is made is has to be honored regardless of market conditions.

SYRACUSIAN · April 23, 2004 9:35AM

Yes Michael, that's the point.

I'm ignorant on stamps. Totally ignorant and therefore I relied on his advice and expertise.
I don't question the value of items he sells in his shop, because he taught me so.
If he says that these stamps are worth $2000, it's fine. That's why I didn't tell him what the other dealer told me.

He's clever enough to know what he has to do. He'll either buyback the overpriced series at let's say $1500-$1700,
or come up with an excuse and refuse it, knowing that this is the last time he'll see me.

And because he said he didn't want to keep the stamps on consignement, for reasons of "principles"
I have a feeling that the answer in May will be no. But he doesn't know my answer that will follow.
Not that it'll change much, I'll still loose a lot of money on this, but at least I'll get it out of my chest, in a very calm manner.

wybrit · April 23, 2004 10:06AM

Amazing story, Dimitri. Hope it turns out the best way possible in the end.

coinkat · April 23, 2004 10:14AM

I am sorry to read of your circumstances Dimitri. I hope that it turns out okay...

rhound1977 · April 23, 2004 1:09PM

Geez Michael, I was in that shop 6 months ago, why didn't you tell me my behavior was that bad....

Actually a nice shop, with nice folks.... including Aethelred......

Aethelred · April 23, 2004 10:42PM

<< Geez Michael, I was in that shop 6 months ago, why didn't you tell me my behavior was that bad? >>

We just called the police after you left Glenn, sometimes it is better that way. My only advice for the future is not to talk about the coin dealers you have killed with your bare hands while you are shopping!

rhound1977 · April 24, 2004 12:23AM

<< 

<< Geez Michael, I was in that shop 6 months ago, why didn't you tell me my behavior was that bad? >>

We just called the police after you left Glenn, sometimes it is better that way. My only advice for the future is not to talk about the coin dealers you have killed with your bare hands while you are shopping! >>

OOOOPS..... Sometimes I get over stimulated!

Aethelred · April 24, 2004 6:25AM

<< 

<< 

<< Geez Michael, I was in that shop 6 months ago, why didn't you tell me my behavior was that bad? >>

We just called the police after you left Glenn, sometimes it is better that way. My only advice for the future is not to talk about the coin dealers you have killed with your bare hands while you are shopping! >>

OOOOPS..... Sometimes I get over stimulated! >>

The bright lights and shiny coins can do that!

Coin Shop Etiquette

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