My local B&M has been taken over by...

timcoin

people selling jewelry. Had to wait much longer than normal to look at the inventory, and most of it was the same as my last visit. The owner says they haven't been able to process any coins because of the masses selling their jewelry. And they were all out of gold eagles. Dang jewelry selling people are stealing my coin dealer. Ugh!!! Anyone else experience the same lately?

Elcontador

Combining the two generates more foot traffic into the store.

291fifth

It appears that numismatic coins have become a minor sideline at many coin stores. Bullion and jewelry now account for the great majority of their business.

ChrisRx

<< <i>It appears that numismatic coins have become a minor sideline at many coin stores. Bullion and jewelry now account for the great majority of their business. >>



If that is what it takes to keep these stores in business then bring on the jewelry!

ocon4008

If they keep melting jewelry maybe they will leave coins alone, but I doubt it.

Walmann

Time to consider a new ring or a body piercing for additional pieces.

OneCent

<< <i>It appears that numismatic coins have become a minor sideline at many coin stores. Bullion and jewelry now account for the great majority of their business. >>




If not but for the surge in bullion, I would reckon that many would have had to close their doors.

SilverEagles92

I went to a local shop to sell some coins, and there were probably half a dozen older people in there selling rings and chains. This shop usually has nobody in it, but I guess with the high price of gold, people are coming out of the woodwork to cash in.

joebb21

my b&m only buys gold coins now.

SUMORADA

masses selling their jewelry. And they were all out of gold eagles. Dang jewelry selling people are stealing my coin dealer

It's a living....and for most Jewelers myself included........a blessing.

Greeniejr

In 5-10 years when this whole recession/depression/economic ickiness has passed you will be thankful for scrap and bullion. Why? Because all of the dealers who are buying and selling bullion will be cash heavy and ready to put together amazing inventories of rare coins.
Also, you have to take a look at your average B+M store. 1-3 employees and thats about it. I know I am lucky enough to work for a B+M that is big enough to have people whose areas are pretty dead right now to do scrap while those of us who do the coins can keep up the business.

Meltdown

I had to wait today for some lady selling scrap jewelry... and before I left, another kid came in and was selling more.
My small shop dealer has told me it's a 2-3 thousand dollar profit every month. He does not care for it, but you cannot turn that kind of income away either.