Home U.S. Coin Forum

How is your local coin shop doing?

291fifth291fifth Posts: 23,896 ✭✭✭✭✭
I can't help but notice that one of them in my area that I drive by almost daily never seems to have many cars in its parking lot. This is a big change from a couple of years back when it was often hard to find a parking spot.
All glory is fleeting.

Comments

  • keyman64keyman64 Posts: 15,452 ✭✭✭✭✭
    I went to three shops today. Two of which are 2/3 or more of jewelry while still having a substantial coin operation. They have been in business for decades. The other shop I visited today is 100% coins and has been there for at least 10 years and they do a lot online as well. Another 100% coin shop in the area I go to has been around for several decades as well.



    There are a few other jewelry/coin shops in the area as well.

    I am in the Tampa Bay Area which is a Top 20 MSA in the nation

    last I checked so that probably helps. Smaller markets certainly

    have more challenges.
    "If it's not fun, it's not worth it." - KeyMan64
    Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners. :smile:
  • TURBOTURBO Posts: 494 ✭✭✭
    Mine seem to be doing fine. Always busy when I go in.
  • AUandAGAUandAG Posts: 24,515 ✭✭✭✭✭
    My local shop never cared for walk-ins. They do all their business on Ebay. They are just here to purchase local collections and don't really care about selling via the shop.

    After about 5 years in the neighborhood I figure they should be moving on to another part of town. We'll see.



    bobimage
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • USMarine6USMarine6 Posts: 1,935 ✭✭✭✭✭
    They take about 8 vacations a year so Id assume not bad
  • coindeucecoindeuce Posts: 13,471 ✭✭✭✭✭
    I was so busy today, I didn't get to sit down for a lunch until 3:00. And that has been the case on quite a few weekdays lately. image

    "Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
    http://www.americanlegacycoins.com

  • winkywinky Posts: 1,671
    I don't have any here. I live in the boonies on a lake.
  • drwstr123drwstr123 Posts: 7,026 ✭✭✭✭✭
    Originally posted by: USMarine6
    They take about 8 vacations a year so Id assume not bad


    The shop here takes about three a year...



    ...when they get busted for receiving stolen merchandise.

  • WalkerfanWalkerfan Posts: 8,896 ✭✭✭✭✭
    Most of them are gone in my neck of the woods. Only one heavy hitter left and they also sell jewelry. They are doing really well. It is a co-ownership (partnership). The one owner is a crooked (insert expletive) the other one is really fair and I like him. After the one tried to rip me off AGAIN; I'll never even waste my time when he's behind the counter. I'll literally leave and come back when the other one is there. They make a lot of $$$, though.

    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭
    Originally posted by: AUandAG

    My local shop never cared for walk-ins. They do all their business on Ebay. They are just here to purchase local collections and don't really care about selling via the shop.

    After about 5 years in the neighborhood I figure they should be moving on to another part of town. We'll see.



    bobimage




    How many collections can there be to buy?
  • CuKevinCuKevin Posts: 1,690 ✭✭✭✭
    Originally posted by: TURBO
    Mine seem to be doing fine. Always busy when I go in.


    Same here
    Choice Numismatics www.ChoiceCoin.com

    CN eBay

    All of my collection is in a safe deposit box!
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,793 ✭✭✭✭✭
    You can lead a geek to coins but he's still a geek.
  • Last time I went in I wanted Silver. His shelves were empty, yes empty, and two bank people [were walking out. He gave me crap deal on silver. I accepted. Never again.
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    I stop by 4 or 5 shops here and see some are doing very well but others are not. It's all on how they take care of there customers. Some want moon $$ on stuff and some know they need to make a deal to keep it all rolling.


    Hoard the keys.
  • SaorAlbaSaorAlba Posts: 7,466 ✭✭✭✭✭
    There are two of them near me. One is a smoky place that is rather messy. The other one is an organized chaotic situation, but unfortunately the owner has health issues and has been out of the shop for about 4 months now. His wife has been in a few days only.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
  • ldhairldhair Posts: 7,111 ✭✭✭✭✭
    There are three in my area that have been around for probably about 50 years. I watched each owner pass away over the years. They treated me like a friend. Great times.

    Never had the same feelings with the new owners. Not near as mush traffic in the shops as there once was.
    Larry

  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭
    My local guy is doing okay, but he would love to sell his shop and retire. He does have a business that is worth selling, but so far I think most of the offers have been for his inventory and very little else, included the building he owns which houses his business.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • RYKRYK Posts: 35,772 ✭✭✭✭✭
    About as well as my local hardware store and my local bookstore. Yet, the hardware business and book business seem to be thriving.
  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭
    Originally posted by: RYK
    About as well as my local hardware store and my local bookstore. Yes, the hardware business and book business seem to be thriving.


    It's good to hear that book business is doing well some place. It seems like the young generation wants on their books on computers and iPads. I have trouble reading books that way. I guess I'm too old to change.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    No coin shops in this area.... wish there were....no coin shows either. Cheers, RickO
  • johnny9434johnny9434 Posts: 27,409 ✭✭✭✭✭
    the only one we got in this area does ok. business seems to be brisk.
  • ShadyDaveShadyDave Posts: 2,186 ✭✭✭✭✭
    I have a few decent options in my area (within an hour drive). Most are hybrid coin/jewelry/PM stores or pawn shops and there's always traffic in the stores. The LCS I frequent the most doesn't have an awesome selection, but he prices at or below grey-sheet, so items go quick when items come in. This LCS also has over 200k reviews on eBay, so between the two they are doing well.



  • telephoto1telephoto1 Posts: 4,711 ✭✭✭✭✭
    We're one of two real coin shops left in our area, and the last that's pretty much coins & currency specific (We also do some CW memorabilia and related antiquities, images, etc. but they are not our primary focus). We've been doing pretty well of late; moving a lot of bullion/bullion related stuff (rounds, 90, eagles, used dollars etc.) with a lot of new faces we hadn't seen previously. The numismatic end is sporadic but we have some regulars with want lists, etc. The holiday buying will be kicking into a higher gear shortly; we're curious to see how this year compares with last because a local employer (Caterpillar) has been doing some middle management layoffs and early retirement pushes in our area. Members of both groups are customers but we aren't really seeing any significant change as yet. On the buying end, we are getting offered a lot of stuff right now but not a lot of high quality material. That may change.


    I can't really comment on how the other coin store in town is doing-they also have sports cards, beanies, nascar items and some pawn-shoppy stuff (someone said they saw a set of car rims in there recently-and given their location, that doesn't surprise me).

    RIP Mom- 1932-2012
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    traffic has been slow for awhile.
  • Cougar1978Cougar1978 Posts: 7,539 ✭✭✭✭✭
    Business is booming for them. Lots of Bullion Sales plus walkin traffic selling them material they flip at shows. They recently flipped a large collection which walked in with insiders - dealers, investors. Quick turnover along with good retail money here and there is the key as the overhead costs of running a B&M are substantial. Material has to be bought right. The junk bin area is spacious with plenty of room for browsers, material is marked up 50-100% or more. No CP here as they have an employee who spends a lot of his time making sure the JB has no bargins or CP giveaways and is jokingly referred to as "Our Junk Box Manager."
    So Cali Area - Coins & Currency
  • ZoinsZoins Posts: 33,811 ✭✭✭✭✭
    Originally posted by: keets
    traffic has been slow for awhile.


    Does your shop handle bullion? That seems to be what kicks up traffic for B&Ms.
  • Cougar1978Cougar1978 Posts: 7,539 ✭✭✭✭✭
    Originally posted by: Zoins
    Originally posted by: keets
    traffic has been slow for awhile.


    Does your shop handle bullion? That seems to be what kicks up traffic for B&Ms.


    Yes they do plus do a lot of slabbed 69 & 70's (they send off or got chap off the Bay) priced slightly below CW Trends or TPG price. A slabbed $50 MS70 2013 AGB was at $1895 vs CW Values of $1900.
    So Cali Area - Coins & Currency
  • ZoinsZoins Posts: 33,811 ✭✭✭✭✭
    Originally posted by: Cougar1978
    Originally posted by: Zoins
    Originally posted by: keets
    traffic has been slow for awhile.


    Does your shop handle bullion? That seems to be what kicks up traffic for B&Ms.


    Yes they do plus do a lot of slabbed 69 & 70's (they send off or got chap off the Bay) priced slightly below CW Trends or TPG price. A slabbed $50 MS70 2013 AGB was at $1895 vs CW Values of $1900.


    Good to know. More local shops are a good thing.
  • bidaskbidask Posts: 13,834 ✭✭✭✭✭
    Still buying bullion at 90% of spot.
    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • goldengolden Posts: 9,017 ✭✭✭✭✭
    One closed almost two years ago. The others are not worth visiting.
  • luckybucksluckybucks Posts: 1,318 ✭✭✭
    There are several shops in my area. All of them seem to be doing okay on both the coin and paper money side.



    One of them is heavy into jewelry, and that end seems to be doing well.



  • guitarwesguitarwes Posts: 9,237 ✭✭✭
    The only local one closed 2 years ago and nothing has opened to take it's place. There are 2 about an hour away, one does well, one rips people's rectums out.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • SethChandlerSethChandler Posts: 1,697 ✭✭✭✭
    Its doing so well I bought it.
    Collecting since 1976.
  • TheDukeKTheDukeK Posts: 359 ✭✭✭
    Like most. Some closed but some doing fine.
  • CoinZipCoinZip Posts: 3,253 ✭✭✭
    The closest B&M to me is about 20 miles...... image

    Coin Club Benefit auctions ..... View the Lots

  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    Whatever Braddick says.

    At the downtown one, the guy admits he doesn't really have anything interesting to sell, but is open for what walks in.

    At the other one, it's the same thing but he does shows. Richard knows coins but is not the most personable guy in town.
  • krankykranky Posts: 8,709 ✭✭✭
    Originally posted by: CoinZip
    The closest B&M to me is about 20 miles...... image


    The closest ANYTHING to you is about that far! image

    OK, we won't count coal.

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,793 ✭✭✭✭✭
    Originally posted by: CoinZip
    The closest B&M to me is about 20 miles...... image



    That's roughly half the distance between me and most women.
  • ARCOARCO Posts: 4,305 ✭✭✭✭✭
    There are three or four pretty good coin shops in the Salt Lake City metro area. Either my tastes have improved as a collector, or, the coin shops just don't seem to have as much quality material. I rarely go these days. Don't like the prices or the quality of the coins.

    The internet is like a local shop X 500. Why go to the shop when the internet has exponentially more to offer and with time to research and evaluate prices?

    Tyler
  • ARCOARCO Posts: 4,305 ✭✭✭✭✭
    I currently have ONE coin that I would not sell regardless of any needy circumstances. Not even paying cancer treatment for my kids would get me to sell.

    That coin came from a local dealer.

    Tyler
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,793 ✭✭✭✭✭
    Originally posted by: ricko
    No coin shops in this area.... wish there were....no coin shows either. Cheers, RickO


    Skype much ? I can host a party for 9


  • goldengolden Posts: 9,017 ✭✭✭✭✭
    Originally posted by: TwoSides2aCoin
    Originally posted by: CoinZip
    The closest B&M to me is about 20 miles...... image



    That's roughly half the distance between me and most women.


    image
  • DRUNNERDRUNNER Posts: 3,791 ✭✭✭✭✭
    Our local SLC shops appear to be doing well. Each has a slightly different business model, but I can see NO problem . . despite my personal observation that the hobby is in decline . . . . .



    Drunner

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file