Are There Still Coin Shops?

TigersFan2

Are there still coin shops or do dealers now pretty much do their business through the internet and coin shows? I expect that the overhead for selling online and coin shows is much less than the overhead for a physical store, although the physical store probably improves the acquisition of inventory from people wanting to sell grandpa's coin collection.

I haven't been to a local coin shop in at least 5 years. Today I did some searching around online to see if there are any coin shops in my metropolitan area. Here's what I found.

* A coin shop I visited several times in the late 1990s seems to be only an internet presence.
* Other coin shops that I had visited around 15 years ago don't seem to exist.
* The online listings I could find for coin shops seemed to be primarily jewelry stores with some gold/silver bullion sold on the side or places that seem to specialize in buying and selling bullion type coins.
* Nothing with a physical address seemed to be the traditional coin shop.

Tomorrow I'm going to visit a nearby jewelry store that mentioned PCGS coins on their website just to see what they have. My expectations are for very few coins at high-end prices as their website seemed to be focused on jewelry.

keyman64

There are several around me, although only two are 100% coins...if I expanded the range to within 50 miles of me, there are more.
Most combine with jewelry etc as you noted though.

I'm in a Top 20 Metro Area though.

garrynot

Where do you live? I live in Niles IL. There ar 3 coin shops within 15 minutes of me.

Niles Coin Shop.
Glenview Coin and Collectibles
A coin shop in Morton Grove whose name escapes me.

Not to mention Harlan Berk's downtown and in Oak Park.

CuKevin

Yes, I know of a few in the San Diego and Fresno CA area that are quite good.

And Americana Rare Coin (formerly Holsonbake Numismatics) just opened a stunning shop in Sacramento, CA. They continue their online and coin show business as well.

Broadstruck

The two coins shops that I visited in my teens are still open. I visit one regularly with my son and usually only end up buying something for him as there's never anything that I find interesting. The other is now run by a former customer who was a decent guy as a collector but became quite slimy in both ethics & hygiene once in the business.

BryceM

I live in a town of about 9,000 with maybe 40,000 people within a 30 minute drive. We have one solid B&M, and few pawn shops that deal in coins occasionally. The nearest towns of any significance are between 2 and 3 hours away. Within that radius there are maybe a half-dozen shops with varying degrees of awesomeness.

TigersFan2

<< <i>Where do you live? >>



I'm in the Phoenix area which is one of the top 10 metro areas. 4 million people and there isn't much. We do seem to have payday loan places that also advertise that they'll buy your gold and silver on about every street corner.

coindeuce

Yes, there are. I manage a 1500 square foot showroom that combines coins, currency, sports cards and game cards. Although the business has a regular presence on eBay, a similar share of numismatic sales are generated on the floor. When a farmer walks in the door and says "I wanna buy 20K in bullion, we stand at attention and say "At your service, Sir !" When a pre-teen walks in the door and wants to buy a 25 cent Po-Ke-Mon or Magic the Gathering card, we say "sure thing kiddo !".

shorecoll

The closest one to me is about 80 miles away or so, not including pawn shops and semi-pawn shops.

Kaline6

A good one in Brookfield, CT, with a very knowledgeable older gentleman and a young man who is specializing in world coins and is very personable and also knowledgeable. Brookfield Coin & Card--they don't do cards anymore.

Jeb

There is a really good one in Merrick, Long Island.

jdimmick

I sold mine about 3 years ago, operate out of an office type environment, you miss walk in, but sometimes get the better collections for people who want a real price, not a quick sell em price.

The one shop here in town that has been opened since 1981 , just closed. I bought their phone number , which has helped me a little bringing people in my door.

Ps : by the way, one that just closed was one of the couple that was robbin people blind, but they got into a financial disaster and the owner couldn't rob em fast enough to stay afloat.

Coinosaurus

How is anyone supposed to run a B&M dedicated to rare coins when internet dealers and auction houses have got the consignment margins down to about 10%.

Waaaay too much overhead. Throw in lots of gold & silver business and it can work.

CuKevin

<< <i>How is anyone supposed to run a B&M dedicated to rare coins when internet dealers and auction houses have got the consignment margins down to about 10%.

Waaaay too much overhead. Throw in lots of gold & silver business and it can work. >>



Why gold and silver? Bullion has very tight margins, and the fluctuation of a day can ruin those margins.

CoinZip

<< <i>

<< <i>Where do you live? >>



I'm in the Phoenix area which is one of the top 10 metro areas. 4 million people and there isn't much. We do seem to have payday loan places that also advertise that they'll buy your gold and silver on about every street corner. >>



I have no idea if they are brick and mortar type stores but at least you can call and ask....

American Precious Metals
Phone: (602) 840-5500
Phoenix, AZ

American Rarities Coin Company - AZ
Phone: 623-850-1443
Phoenix, AZ

Arizona Coin Exchange, Inc.
Phone: 602-863-9088
Phoenix, AZ

Camelback Collectables Coin Show
Phone: 480-227-3604
Tempe, AZ

Republic Monetary Exchange
Phone: 877.354.4040
Phoenix, AZ

Swiss America Trading Corporation
Phone: 800-289-2646
Phoenix, AZ

Stooge

There is a really nice shop in my town called "The Rockford Coin and Stamp" shop. They have been in business for 25+ years. He has stated that several times he would have folded if it wasn't for the fact that this is the last shop in a county that has 250,000+ people in it, and there is a demand for a B & M shop, not to mention that his son Matt sells on eBay 6 days a week.

I've been in there when there have been a steady stream of customers, and he also has a stamp section and one side of his store is dedicated to baseball cards and memorabilia. I've been a customer for so long, when I want to look at something, I just help myself most of the time.

I usually go in 1x a week and chat and listen to the novice customers come in and chime about all of their gigantic collections. I did see someone bring in a really nice collection of XF/AU bust halves one time that were insanely nice. All in PCGS holders.

Another time when silver was up, I seen a guy come in and sell over $100,000 in silver bars. Most in 5 & 10 Oz. bars. That was something to see. Said he made about $10,000 on the deal.

keets

from your post and recent arrival here I am led to believe that you have been away from the Hobby for awhile and may not have been too "tied in" when you actively collected. whether that is right or wrong, here's what I think --- the diminishing number of Coin Shops is a reality that is sort of like a self-fulfilling prophecy: collectors complain about them, direct most of their energy to the Internet and then wonder why all the shops close up. I think that a good way to find out what is out there to meet your curiosity and stated desire to visit Coin Shops would be to join a local club and attend local shows. at the shows it would be easy to ask "Do you have a store and where is it located?" at every table. at club meetings the locals will be able to direct you.

in a case such as you have described I don't think Internet use is the solution, it is the problem all around.

bosco5041

There is a decent coin shop in Columbus, In. no high end stuff though. It's a second generation shop and he getting old.

Rampage

My favorite coin shop in Florida is still very active, but does not do shows. They are 98 percent brick and mortar and do a great business. I only wished I still lived there, but sadly only get to visit a couple of times a year.

Justacommeman

The good ones are usually sandwiched in between a Blockbuster's and a Quizno's

m

Flatwoods

One never has existed near me. In a town with over 200,000 people, that seems odd.

ricko

There are none where I live.... closest is about 65 miles away. I have not visited that shop - if it is even still open. Cheers, RickO

TigersFan2

<< <i>from your post and recent arrival here I am led to believe that you have been away from the Hobby for awhile and may not have been too "tied in" when you actively collected. whether that is right or wrong, here's what I think --- the diminishing number of Coin Shops is a reality that is sort of like a self-fulfilling prophecy: collectors complain about them, direct most of their energy to the Internet and then wonder why all the shops close up. I think that a good way to find out what is out there to meet your curiosity and stated desire to visit Coin Shops would be to join a local club and attend local shows. at the shows it would be easy to ask "Do you have a store and where is it located?" at every table. at club meetings the locals will be able to direct you.

in a case such as you have described I don't think Internet use is the solution, it is the problem all around. >>



I was very active as a collector in the late 1990s when Ebay started, then gave it a break for about 10 years, then picked it back up about 5 years ago. Back in the late 1990s, I visited several coin shops and bought quite a bit of low-grade, cheap coins, a lot out of their bargain bins. There are only a couple of big coin shows a year here and a monthly one that I can't attend because it occurs on Sundays and I'm at church. But you hit the nail on the head in that my interest in coin shops is to mostly window shop because I expect them to charge retail plus whereas on Ebay coins sell for retail minus. Coin shows are fun for the volume and they seem to be the combination of bargains and retail plus pricing. But when I went to a couple of coin shows earlier this year, it seemed that the dealers there exist mainly via an internet presence and coin shows. But, what I need to do at future coin shows is talk with some of the nicer dealers and open up some sort of communication whereas during the year I can communicate what I'm looking for and let them tell me what they have pre-Ebay listing. Selling me something of interest via email from a trusted dealer has potentially lower overhead than Ebay.

TigersFan2

<< <i>I have no idea if they are brick and mortar type stores but at least you can call and ask....

American Precious Metals
Phone: (602) 840-5500
Phoenix, AZ

American Rarities Coin Company - AZ
Phone: 623-850-1443
Phoenix, AZ

Arizona Coin Exchange, Inc.
Phone: 602-863-9088
Phoenix, AZ

Camelback Collectables Coin Show
Phone: 480-227-3604
Tempe, AZ

Republic Monetary Exchange
Phone: 877.354.4040
Phoenix, AZ

Swiss America Trading Corporation
Phone: 800-289-2646
Phoenix, AZ >>



I'm certain none of those are B&M coin shops. Either entities putting their contact info out to buy collections or the investment focused companies selling bullion.

NickDanger

There are several here on Long Island.
Eastern Numismatics is one.
Coin Galleries of Oyster Bay has several locations, however the bulk of the business seems to be bullion & jewelry, but they do sell coins.
Of course, there is a myriad of gold buying store fronts.

ajaan

Yes. There are several in Western New York.

johnny9434

theres maybe 5 in this area that i know of. there not around like they used to be.

ChangeInHistory

I'm in Portland for a few days, and visited Columbia Coin yesterday. I talked to the owner, John, for about an hour and he addressed just this subject. His business model really concentrates on long term clients that they have built up for the last 50-60 years and how they try and educate their walk ins about the coins and the history and story behind the coins. He does some select give aways to the youngsters, but tells them how to show other people, relatives, friends, why the coin is made the way it is, the design, etc. He said he really doesnt need an internet presence, but does not necessarily shut it out completely. He said they havent done a coin show in years, doesn't need to. I think his location out here has a little something to do with it, im not sure his approach would work out by us (Chicago area). Really neat guy, nice shop, hope he keeps thriving. I think the answer to the original post must take into account what area of the country you're in. (It's VERY different out here!)

TURBO

TigersFan2

If you're ever out in Mesa look up Xavier Coins. It's tucked away in a small strip mall with a rib joint right next door.
It's a nice little shop with a good selection of coins, Gold and silver, supplies etc..
The shop has been around for the twenty plus years I have lived out here.

silverpop

yes my city has one been there for over 20 yrs , changed owners but still sells coins, notes and such

I buy my coins from that shop

TigersFan2

<< <i>TigersFan2

If you're ever out in Mesa look up Xavier Coins. It's tucked away in a small strip mall with a rib joint right next door.
It's a nice little shop with a good selection of coins, Gold and silver, supplies etc..
The shop has been around for the twenty plus years I have lived out here. >>



Xavier Coins is the place I vistited and liked very much in the late 1990s. I found their webpage yesterday and it appeared to be an internet only presence. Nowhere on the website could I find mention of a physical location or address.

TURBO

They don't have much of a web page but the shop is still there and running.

Address: 6750 E Main St # 105, Mesa, AZ 85205
Phone (480) 985-6381

TigersFan2

<< <i>They don't have much of a web page but the shop is still there and running.

Address: 6750 E Main St # 105, Mesa, AZ 85205
Phone (480) 985-6381 >>



Thanks. I just went to their webpage again and did find that address with a map on it. I'll need to stop by there the next time I'm that far east. It's at least a 45 minute drive from my house.

winky

None here. 100 miles east of Dallas, Tx. on a lake.

TigersFan2

This afternoon I visited "PV Coin & Jewelry" which is near my house. It was worse than my expectations. I walk in and see that 100% of the display cases are jewelry. Not a single coin on display anywhere. On the bookcases are a few coin books. The guy asks if he can help me. I ask if he sells coins. He says, "yes. what are you looking for?" I answered, "Nothing in particular. I just stopped by to see what you have." The conversation didn't go any farther. He didn't make an effort to show me any inventory and I didn't add more specificity what I collect. It became obvious to me that the store is 99% jewelry and 1% coins. I think "coins" is only in the business name as a way to attract people to bring in grandpa's coin collection so he can buy it and probably flip it to another dealer or Ebay. If I were him and selling coins had any importance in the business, I would have had at minimum a small part of 1 display case with some coins.

TwoSides2aCoin

Independent in Bellevue, Ne
J&J Coins in Bellevue, Ne
Millard Numismatics in Omaha, Ne.
DS&S Coin and Bullion in Omaha, Ne.
Coinhuskers in Omaha, Ne.
A Coin Shop in Omaha, Ne.
Don's Coins & Clocks in Omaha, Ne.

There are a few more.

BAJJERFAN

<< <i>Independent in Bellevue, Ne
J&J Coins in Bellevue, Ne
Millard Numismatics in Omaha, Ne.
DS&S Coin and Bullion in Omaha, Ne.
Coinhuskers in Omaha, Ne.
A Coin Shop in Omaha, Ne.
Don's Coins & Clocks in Omaha, Ne.

There are a few more. >>



More like a coin boutique isn't it?

Nysoto

There are quite a few coin shops in the greater Seattle area, probably as many as there were 20 years ago. Their business has changed, from mostly "rare coins" to adding bullion and gold jewelry buying. I do miss the days of going into a local coin shop and finding a raw and original early US coin. If something substantial came into a neighborhood shop, it would now be sent to a TPG, and most likely sold on the internet or wholesaled out, rather than waiting for a local buyer. Local shops are still fun to go to, but it has been fifteen years since I purchased a nice raw draped bust half dollar at the neighborhood B&M store.

TopographicOceans

B&M coin stores exist for just one reason - to buy what walks into the store.

LanceNewmanOCC

.
i'd say 50%+ of the best coins i've bought have been shop purchases.

89-o $1 vam-1a2 graded anacs aoh vf20 sold for nearly 4 figures. bucket coin.

78-p $1 vam-14.15 vf-ish

1916 5c ddo ag3. bucket coin

1815/2 50c f-vf

1873 1c fs-101 s1 ddo xf details - purchased at a fair price

several discovery coins

1838 1c n15 pcgs vf35 (i think, been a while) bought raw, un-attrib. years ago. sold for several hundred.

many others.

because of b&m i was able to hold/view this coin.
.

Shamika

Yes, they are still out there. I visited three in Rockford Illinois several weeks ago.

TheDukeK

They are still out there.
They just seem to be a wide range from the worst gold buying shop that will pay you something for a coin to some really great shops that do all they can to compete with all the market forces.

Dave99B

There are! I visit a nice one in Bellevue, Wa about twice a month, as its only two blocks from my office. They have a nice selection of PCGS/NGC material.

It's a beautiful modern shop staffed by very nice people. Their small parking lot (8-10 cars?) is always full, and normally they are doing two or three deals all the time --- all buying transactions as far as I can tell (customers selling). They have a ticketing machine what dispenses numbers so folks can be handled in an orderly manner .... people are almost always waiting. Busy place! I've seen a few customers buy bullion, or 90% silver, but that's about it. Nice big shop doing very well --- great to see as Bellevue was lame prior to their arrival. I highly recommend them. They do sell/buy a bit of jewely ... but they are mainly numismatic oriented.

Bellevue Rare Coins
10541 Ne 4th St
Bellevue, WA

Christos

You are in Phoenix which means if you drive down to Tucson you can visit Rick Snows shop and see some amazing coins. There are a number of other shops in Tucson some good some not so good.

TigersFan2

<< <i>Bellevue Rare Coins >>



I've bought several PCGS coins from them off Ebay.