Suppporting local coin shops...

edsiajb

I like to support local business as much as I can. There is a relatively new coin shop in our area and I have been by there several times. The prices on coins are on the steep side so I haven't bought many. I have bought a few just because he is there and I wanted to support his business. I bought one because I really, really liked the coin (an AU-55 half cent).

Yesterday, I was in need of all sizes of 2x2s so I drove to this shop. He had rubber-banded bundles of 30 2x2s for $8.00 - I couldn’t believe it. That is more than 26 cents per 2x2...more than the value of some of the coins I wanted to put in them. While I was there, I looked around at his other supplies. Most were very overpriced just like the 2x2s. Needless to say, I didn't buy anything. And I really have no reason to ever go back to his shop. I made a 40 minute round trip drive and learned a lesson - it is much more convenient for me to buy them on eBay and walk to my mailbox.

I was just wondering if others are willing to pay such inflated prices to support their local shops (or just for convenience).

kranky

I'm the same way - I like to support local businesses and will pay a little more for that.

But those 2x2 prices are insane. That's $8.00 for probably $1.00 of product (his cost).

Shamika

I'm with kranky.

I purposely avoid Walmart to support the small town stores whenever possible, but I'm not going to pay a twice the going rate if that's what it takes.

ziggy29

<< <i>I'm with kranky.

I purposely avoid Walmart to support the small town stores whenever possible, but I'm not going to pay a twice the going rate if that's what it takes. >>

Exactly. I pay a little more to avoid over-contributing to the Walmartization of America and the death of small business...but I think we all have our limits.

$3 at a big box vs. versus $4-5 at a mom and pop? I can handle that. But $3 versus $8? That's a bit harder to justify.

tmot99

I very rarely buy supplies from my local dealer. I can get those anywhere much cheaper. I buy coins from the local dealer. I rely on them for their eye and expertise. They find the cois that I want in the condition I want. At times I pay a little bit more for the coins. They are a business that I rely on and the extra money is worth it to me. I get 90% of my coins through them. I also very rarely ask if they can do better on price. That has earned respect in both directions. If they can do better, they do so automatically.

Compa

I would love to be able to toss some business to local stores ... if they had anything I wanted!

I do try to hold off eBay and auction purchases before local shows so I can try to spend some money with regional dealers ... and I always get my supplies at the shows.

Steve27

I recently learned that the local coin shop isn't there to sell, he's there to buy. So don't feel obligated to overpay, just to keep him around.

magikbilly

Hi All,
in the end I guess I hope my money goes to the guy with the nicest coin

Best,
Billy

BAJJERFAN

Well I would certainly support my local coin shop if he actually had anything I wanted.

MacCoin

the shop where I go is the greatest place you'll ever go. the owner sometime goes coffee if I be there for a while. he likes to shows me some of the nice notes he has in his own collection. and is very friendly. the prices are about the same as I can get from ebay but I do get to see and handle any coin he has in the case or my favorite the bargain basket.

sorry to hear your shops are nothing like the china lake region coin shop. if your ever in Maine you'll have to stop and say hi. you'll love it

kryptonitecomics

The local shop I frequent in Orlando has virtually no coins on display, no prices listed, charges a lot for supplies as well. The individual pages for 2X2 were selling for $.75 cents each. I bought 50 on Ebay for $12.95 shipping included.

Fortunately the 2X2's were like $4.00 for 100, which is about the going rate.

DorkGirl

Every now and then, I'll stop by my local coin shop to buy a few coins and have a little conversation. I pay higher prices there, but getting to hold the coins in my hand before buying is nice. And getting to talk about coins face to face is priceless. No one else in my life cares anything about coins, and I love it here, but it's not the same as being in a room with someone else who loves coins as much as you!! The conversation is worth the higher prices I pay, but I only go when I have money burning a hole in my pocket, and eBay has been slow pickings.

ddink

Nope. I buy from whatever place is cheapest, or in a few cases, more convenient. Price almost always wins, though. If a business simply can't compete anymore, I am sorry for them, but such is life.

Before people say that they are just supporting their brick and mortar coin store and dealers have a "right" to make a living doing what they do, what about those dealers on eBay who you're "denying" a living? The argument cuts both ways =P

Goober

My dealer gave me a copy of Coin World on my first visit. After a few more he gave me a year old Red Book. When I went in to purchase some flips he just gave me a handful of about 30. He will usually charge just less then ask, using an old greysheet, he gives me his old greysheets if I ask. He let me trade some old raw common date BU Morgans in AU58-MS63 (gave me $18-$26 a pop) for a nice NGC MS65 1903-O Morgan and a NGC MS66 1944-D Walker (he discounted this down to $225 since, as he said, "I had it around for awhile"). I love my local shop, I've been to some bigger towns where you feel unwanted and know you're going to get the rip.

Betta285

I have no problem supporting my local shop. The dealer is the friendliest guy you could meet and he is always willing to go out of his way to help me. Even when I first began collecting, he always answered any questions I had and took the time to discuss a coin with me. He always takes a little off the top when I buy something and is always willing out help me out financially. Right now he’s holding a Beautiful chop marked Trade dollar for me until I can get the money, which he gave me a discount on. Every time I go into his shop we always wind up talking about something for an hour and the knowledge I’ve obtained from him is priceless. His supplies are always low priced and he usually throws in something extra. Even if I see I can get a coin for a few bucks cheaper some other place, I’d rather pay more and get the coin as well as the knowledge and the enjoyment that comes out of each visit.

Jim