With all the commiserating about bad economic times..

coolest

and many banks and other small businesses closing shop.

I have yet to hear of a coin dealer going out of business.

So maybe the economics of coins have not been that bad?

But I haven't been to a show in a while maybe I am out of touch?

coinmanic

I don't know many of the details, but Superior shut down.

Edscoin

Might be the Banks are going under because they were loaning money to coin dealers.

RedTiger

There was a fair size Florida dealer that was posted about on the forum, but that seemed more to do with misallocation of funds than a poor economy. There have been a couple of other isolated reports from forum members about one or two bourse dealers going under, bouncing checks and the like. Many store front dealers are staying afloat with bullion sales, cash for gold, and that sort of thing.

Florida dealer goes under thread

BlindedByEgo

It tends to be kept quiet... Sharks practice professional courtesy.

BECOKA

<< <i>I don't know many of the details, but Superior shut down. >>



Only the auction portion, they are still open as a dealer, as far as I know anyway.

DoubleEagle59

the coin shops here in Ontario Canada are surviving because they are very busy buying from the public. They're making good profit margin on their purchases.

However, I don't know how long they can last tying up their inventory because I know their sales are down bigtime.

Nobody has been buying too much at the last 4 or 5 coin shows we've had here. Many dealers are complaining and a few dealers (not store owners but coin show dealers) have called it quits.

291fifth

The B&M dealers are still doing quite well with jewelry/bullion related items. Numismatic coins seem to be of little importance to them.

The local bourse dealers who don't have a store are hurting. Many are still asking moon money for their second and third rate material and are not getting it. Most of these local bourse dealers own all of their coins outright so they can hold on for a long time. I think some of them set up show-after-show by force of habit alone.

DorkGirl

3 of the 4 coin shops that were here in western Colorado have closed shop in the last year.

ricko

If the dealer (B&M or otherwise) has enough reserve cash to ride out the recession, then they need not sell and can keep their prices high. Conventional wisdom says six to eight months cash reserves will get individuals through most economic downturns. If you see high prices at shows or stores, it just means they are comfortable cash-wise and waiting for the recovery. Cheers, RickO