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New Business model for two B&M's in my town.

agentjim007agentjim007 Posts: 6,256 ✭
in U.S. Coin Forum
In Chicago (counting the burbs) the second retail coin shop (this one has been around in Chicago forever) has closed their doors to retail sales and sell wholesale only. You were able to walk into both these shops and look through their cases. Now in one you entered into a room similiar to a doctor waiting room with a little buzzer and microphone. You push the button and are ask how you may be helped. Both shops only BUY from the public. The second shop you push your coins through a little slot in a pane of glass that looks bullet proof. I was told along time ago by a dealer I use to work for that the money is made in the buying. Guess you have to leave the doors open to the unsuspecting public. I can't blame them we want to buy at auction and ebay.

Comments

  • CoinRaritiesOnlineCoinRaritiesOnline Posts: 3,681 ✭✭✭✭
    Did they get robbed a few times?
    John Agre

    Coin Rarities Online
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Most likely were robbed... either protect or go out of business... Cheers, RickO
  • PerryHallPerryHall Posts: 46,839 ✭✭✭✭✭


    << <i>Did they get robbed a few times? >>



    Sounds like they are doing the robbing.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • guitarwesguitarwes Posts: 9,290 ✭✭✭


    << <i>

    << <i>Did they get robbed a few times? >>



    Sounds like they are doing the robbing. >>




    image That's what my first impression was! Especially since one of them told you that "the money was in the buying". It's ashame they're going that way to wholesale only.

    -wes
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • PerryHallPerryHall Posts: 46,839 ✭✭✭✭✭
    They rip the unknowledgable general public (especially widows selling their late husband's coin collection) and then wholesale the coins to a real coin dealer.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • VeepVeep Posts: 1,454 ✭✭✭✭
    Who are the two?
    "Let me tell ya Bud, you can buy junk anytime!"
  • CladiatorCladiator Posts: 18,247 ✭✭✭✭✭
    Chicago is absolutely rampant with crime lately. If I owned a B&M shop there I'd be doing something to secure myself, my inventory, my employees and my business.
  • 291fifth291fifth Posts: 24,690 ✭✭✭✭✭
    Sounds like a really inviting atmosphere... but I'm not surprised.

    Do the people behind the bullet proof glass wear suits and ties or Hawaiian shirts?

    Is the bullet proof glass there to protect them from thieves or to protect them from irate relatives of the widows who found out how badly they had been ripped?
    All glory is fleeting.
  • PerryHallPerryHall Posts: 46,839 ✭✭✭✭✭


    << <i>Is the bullet proof glass there to protect them from thieves or to protect them from irate relatives of the widows who found out how badly they had been ripped? >>



    Both but probably more so the later. image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • CladiatorCladiator Posts: 18,247 ✭✭✭✭✭
    Chicago has some of the most restrictive gun laws in the nation as well. I'd expect a shop owner's legal ability to protect himself and his assets is less than adequate.


    Edit to add: hm, interesting how those super restrictive laws Chicago has haven't seemed to stem the crime wave. image
  • PrivateCoinCollectorPrivateCoinCollector Posts: 2,415 ✭
    Wow, that was one quick leap to ripping off widows. image
    Morgan HerdTO Gold Mine

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