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Crazy Coin Shop Experiences - From an Owners Perspective
7over8
Posts: 4,733 ✭✭✭
Since we always hear the compliments and complaints about coin shop owners from a customer perspective (and I have my share of those over the years) - I thought it would be good to have a little fun and explain why so many coin shop owners have slightly bad attitudes at times when in the "shop".......
From my experiences (the customers I could do without):
1) Collectors announce they are big silver buyers but get annoyed when they are informed there is a premium of $3 per oz on current year ASE's.....
2) Along the same thought process - when quoting $1.50/oz over on 10 oz Engelhard silver bars, grumbling is heard and they offer $5/oz under spot, thinking you'll jump at the offer (and by the way the only jumping going on is to open the door and show them the way out)
3) Collectors bring in certified coins along with Ebay high selling prices and demand the same from you. Nothing ever great, just generic stuff.
4) Customers don't understand why they cant get 100% of spot on their scrap jewelry, or, what they paid for it years ago.
5) Endless cherry pickers (which isn't a problem in itself) that announce they want rare varieties of certain type coins but only want to spend a nickel and dime allowance on them.
6) Customers who try to inform you of how you should run your business. I've even been criticized for not having a hat rack - for a woman's hat.
7) Customers who "want to see what something is worth" and want it written on your letterhead - of course, for nothing. They never intend to sell anything and state that up front.
8) Customers who are quoted a certain price on coins, agree to the individual prices, them try to reduce the total price at the last minute. Uh, No.
9) Customers who want "volume discounts" on bullion, whip out a credit card to pay, and when they are told no discounts, no plastic - they have a stunned look on their face.
10) Customers who announce they will buy "everything you have" for a stupid number - when you never asked them for an offer.
11) Collectors who state "they were offered x" for a coin, when "x" was 300% of greysheet bid. My response is "I don't think so", or "Run, don't Walk", or "I'll sell you mine at twice bid - as many as you want"
Customers I feel bad for:
1) Older people who spent huge money on TV or Ad coins and cant recoup even 1/2 of their initial investment.
2) Customers who obviously are in need (down on their luck) and have 1 dwt of 10k gold to sell.
3) Customers who tell me of competitors who have ripped them off - weighing in unc silver dollars, walkers, etc. and buying for silver weight.
4) Older people who bring in five dateless buffalo nickels and think they have a fortune.
5) Customers with a small handful of recent clad foreign coins, we say to give them to young kids in their family, they walk out and throw them in the garbage can in front of our shop. ?????
Just unusual people:
1) The ones that show up with nothing else to do and state "I want to pick your brain" - but don't listen well.
2) Those that bring in copper, pewter and brass and think you buy those metals as well???? Arent they precious???? Uggghh.
3) The customers who think they have gold coins, and drop a handful of golden dollars (SAC's) on the counter.
4) Customers who stare through the plate glass window for 10 minutes at a time and never come in??? (not in a bad area either!!!)
5) Customers who give you their life stories, they are celebrities or married to celebrities.
Anyone else have some good ones??????
From my experiences (the customers I could do without):
1) Collectors announce they are big silver buyers but get annoyed when they are informed there is a premium of $3 per oz on current year ASE's.....
2) Along the same thought process - when quoting $1.50/oz over on 10 oz Engelhard silver bars, grumbling is heard and they offer $5/oz under spot, thinking you'll jump at the offer (and by the way the only jumping going on is to open the door and show them the way out)
3) Collectors bring in certified coins along with Ebay high selling prices and demand the same from you. Nothing ever great, just generic stuff.
4) Customers don't understand why they cant get 100% of spot on their scrap jewelry, or, what they paid for it years ago.
5) Endless cherry pickers (which isn't a problem in itself) that announce they want rare varieties of certain type coins but only want to spend a nickel and dime allowance on them.
6) Customers who try to inform you of how you should run your business. I've even been criticized for not having a hat rack - for a woman's hat.
7) Customers who "want to see what something is worth" and want it written on your letterhead - of course, for nothing. They never intend to sell anything and state that up front.
8) Customers who are quoted a certain price on coins, agree to the individual prices, them try to reduce the total price at the last minute. Uh, No.
9) Customers who want "volume discounts" on bullion, whip out a credit card to pay, and when they are told no discounts, no plastic - they have a stunned look on their face.
10) Customers who announce they will buy "everything you have" for a stupid number - when you never asked them for an offer.
11) Collectors who state "they were offered x" for a coin, when "x" was 300% of greysheet bid. My response is "I don't think so", or "Run, don't Walk", or "I'll sell you mine at twice bid - as many as you want"
Customers I feel bad for:
1) Older people who spent huge money on TV or Ad coins and cant recoup even 1/2 of their initial investment.
2) Customers who obviously are in need (down on their luck) and have 1 dwt of 10k gold to sell.
3) Customers who tell me of competitors who have ripped them off - weighing in unc silver dollars, walkers, etc. and buying for silver weight.
4) Older people who bring in five dateless buffalo nickels and think they have a fortune.
5) Customers with a small handful of recent clad foreign coins, we say to give them to young kids in their family, they walk out and throw them in the garbage can in front of our shop. ?????
Just unusual people:
1) The ones that show up with nothing else to do and state "I want to pick your brain" - but don't listen well.
2) Those that bring in copper, pewter and brass and think you buy those metals as well???? Arent they precious???? Uggghh.
3) The customers who think they have gold coins, and drop a handful of golden dollars (SAC's) on the counter.
4) Customers who stare through the plate glass window for 10 minutes at a time and never come in??? (not in a bad area either!!!)
5) Customers who give you their life stories, they are celebrities or married to celebrities.
Anyone else have some good ones??????
0
Comments
Bravo . . . .you have my sympathy, and my respect!
Drunner
There's no excuse for having a "bad attitude". If you're in retail, then you're going to get all sorts of customers and as a professional, you have to learn to deal with it in a professional way.
Substitute your quote above with waitresses, bank tellers, car dealers or any other type of retail person and ask yourself if you would appreciate them having a bad attitude with you just because they had a problem with the previous customer.
It amazes me that coin dealers think they have a right to be rude with customers. What's even more amazing are the customers who enable the behavior. I'm sure we'll see both along any minute in this thread.
A customer called and we had this conversation:
Me: "Hello, _____ Coin Shop"
Customer: "I have a miniature Krugerrand, how much is it worth ?"
Me: "A Minuature Krugerrand ? I've never heard of that before. Where did you get it ?"
Customer: "I saw them advertised for $19.95 in a big newspaper ad, so I bought one."
Me: "Why did you do that ?"
Customer: "Because it is gold !"
Me: "I doubt that it has much gold in it. The people selling them undoubtedly made a profit, even after paying all that money for a big ad.
So I doubt it is worth much of anything."
Customer: "Well, I really need to sell it, can I bring it in for an appraisal".
Me: "I doubt we would buy it, but if you really want to bring it to the shop, I will look at it."
Customer: "Ok, I'll leave right now and head over there."
An hour later (it took the customer that long to drive to the shop):
The customer brings in this big velvet-lined case. I open it up - inside is a tiny little coin. The paper says solid 10K gold. I carefully pry the little thing out of the case. It is so thin I'm afraid it will crumple like foil. I hold it over the digital scale and drop it from about 6 inches up. For a brief instant upon impact, the scale momentarily registers 0.01 grams, then settles at 0.00 grams.
Me: "Sorry sir, our scale can't even detect any mass to this coin.
Customer: "But the scale registered something, I saw it."
Me: "Ok, assume for a moment that the scale is slightly off and the coin weighs 0.01 grams. I'll do the math. (0.01/31.1) * (10/24) * $150 = $0.02
Your coin is worth a maximum of two-cents, sir".
Customer: [looking dejected] "Isn't it at least worth more as collector's item ?"
Me: "Not to anyone that I know of, sorry"
Customer: "Well then you don't know the right people !"
Me: [as the customer is leaving] "I stand corrected. I do know somebody. You. Cold I possibly interest you in two-cents worth of newsprint, for only $19.95 ?"
Customer: [Forlornly shuffles out of store.]
<< <i>If you don't want to deal with idiots, crazies, and cutthroat competition, you probably shouldn't be in retail. There's a reason I left my job as a retail manager for a desk job. >>
A lot of people don't want desk jobs and go into business for themselves because they can run them the way they want to. If the idiots and crazies don't like the attitude they get there, they can always go somewhere else, you know.
<< <i>
<< <i>If you don't want to deal with idiots, crazies, and cutthroat competition, you probably shouldn't be in retail. There's a reason I left my job as a retail manager for a desk job. >>
A lot of people don't want desk jobs and go into business for themselves because they can run them the way they want to. If the idiots and crazies don't like the attitude they get there, they can always go somewhere else, you know.
True, but that's not the point.
The OP was making the point that there's an explanation why coin dealers have a "bad attitude" sometimes. That has nothing to do with "idiots and crazies" going elsewhere, and everything to do with a coin dealer feeling justified for having a bad attitude with subsequent customers who aren't the "idiots and crazies".
My point, and FTB's follow up, is that there isn't an excuse for giving your normal customers a "bad attitude" just because some "idiot" or "crazy" was in your shop earlier that day.
If you feel that it is an excuse, then I'm sure the next time you encounter a waitress with a "bad attitude", you'll understand that she has to deal with "idiots and crazies" all day and is perfectly justified in her bad attitude toward you.
Their focus is the people who are serous buyers / sellers at a price they can do some good with. He says "just like you can't let the tire kickers block your table or waste your time at a show, the non serious shop players need to be escorted from the away asap otherwise like walk-ons dragging down a team roster they will hurt your business success".
I don't get to a shop often but I see things that make me boil.
I just love the coin case bird who just perches on the stool and monopolize the area for ever, making it impossible to see anything. Then ask for a Red Book and checks every coin against it.
I can't believe the dealer hands one over.
Then the one who butts in and offers unsolicited info and advice when someone brings stuff in for the dealer to look at.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
<< <i>A friend of mine runs a shop in Arizona which can get very busy. He recently retired from a career in project engineering. He and his partner quickly cull out the people who are the problem people your talking about and get them out of the shop as quickly as possible without any scene, etc. They say its simply the background radiation of running a shop. They have heard it all and he says "when their whining starts, its time for them to leave."
Their focus is the people who are serous buyers / sellers at a price they can do some good with. He says "just like you can't let the tire kickers block your table or waste your time at a show, the non serious shop players need to be escorted from the away asap otherwise like walk-ons dragging down a team roster they will hurt your business success". >>
When I was working, we tried to be accomodating to people with kids. One day, about 10:30, an elderly gentlemen came in with his grandchildren asking if they could go through our foreign exchange box of Euro coins so that the kids could put together sets. The person he asked said OK, and they spread out over about six feet of counter space (right over the gold).
At 11:30 our lunch rush started, so I came over and told him that they would have to stop now because they were blocking the countertop. In that hour they had picked out less than $5 face in smaller denominations that they were going to pay face value for. The man became livid that I would tell a good customer like him that he had to leave.
<< <i>
<< <i>A friend of mine runs a shop in Arizona which can get very busy. He recently retired from a career in project engineering. He and his partner quickly cull out the people who are the problem people your talking about and get them out of the shop as quickly as possible without any scene, etc. They say its simply the background radiation of running a shop. They have heard it all and he says "when their whining starts, its time for them to leave."
Their focus is the people who are serous buyers / sellers at a price they can do some good with. He says "just like you can't let the tire kickers block your table or waste your time at a show, the non serious shop players need to be escorted from the away asap otherwise like walk-ons dragging down a team roster they will hurt your business success". >>
When I was working, we tried to be accomodating to people with kids. One day, about 10:30, an elderly gentlemen came in with his grandchildren asking if they could go through our foreign exchange box of Euro coins so that the kids could put together sets. The person he asked said OK, and they spread out over about six feet of counter space (right over the gold).
At 11:30 our lunch rush started, so I came over and told him that they would have to stop now because they were blocking the countertop. In that hour they had picked out less than $5 face in smaller denominations that they were going to pay face value for. The man became livid that I would tell a good customer like him that he had to leave. >>
I guess I would have let them spread out over a less conspicuous area. The $5 worth they had picked out now doesn't seem like much but what if those kids got hooked on coin collecting and remembered your latitude in thier dealing as kids and always came back to you when they start buying from the gold case?
Butterfly Effect at work.
Adding to the list of customers I feel bad for, I would say former U.S. Military members suffering from PTSD who are homeless who come in with whatever.
Adding to the customers I could do without aren't even really customers. Individuals who have never/will never come in but call 3+ times a day asking what spot is. This would be the same person asking multiple times not randoms who just call once which is fine.
<< <i>I had a woman come into my shop and ask for a 1970 D Kennedy half dollar. I showed her several and she would not buy one. This went on for several weeks and finally I asked why she didn't purchase one since she needed it for her set. Her response was: "I don't like you and I wouldn't buy anything from you." I was stunned as I didn't know her prior to her coming into the shop and I had been nothing but nice to her. The next time she was coming in, I went to the back room and had my wife wait on her. You guessed it...she bought the 1970 D half without hesitation. Every time she came in I had my wife wait on her and she bought coins! Maybe I wasn't her type or my personality rubbed her the wrong way. >>
One of best I've heard
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>" I thought it would be good to have a little fun and explain why so many coin shop owners have slightly bad attitudes at times when in the "shop"......."
There's no excuse for having a "bad attitude". If you're in retail, then you're going to get all sorts of customers and as a professional, you have to learn to deal with it in a professional way.
Substitute your quote above with waitresses, bank tellers, car dealers or any other type of retail person and ask yourself if you would appreciate them having a bad attitude with you just because they had a problem with the previous customer.
It amazes me that coin dealers think they have a right to be rude with customers. What's even more amazing are the customers who enable the behavior. I'm sure we'll see both along any minute in this thread. >>
GoldClause, how unprofessional of you to have a bad attitude by presuming that dealers have a bad attitude with all customers, and presume that any response to a poor customer is a pronouncement of "a right to be rude." You're batting 1.000 here. Your argumentum ad hominen is painfully obvious.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
Your efforts to accomodate young collectors is excellent. One possible suggestion that you way wish to pass along to your old friends is to have what we called in the old days, a "TV Dinner table" that folds up and can be set up in an area away from the main cases that can be watched. This will not disrupt the lunch crowd or in general the view of the higher end material in cases. This is a win-win solution for everyone
Experience the World through Numismatics...it's more than you can imagine.
Our shop keeps several treasure hunt/bargain bins targeted specifically for young collectors in locations that will not cause interference with others. These are like magnets for most of the young collectors, as their initial or early involvement usually requires a minimum of supervision or control to grow their interest in the hobby. I feel very bad for the children who are brought by their parents to the shop and are constantly barked at to not touch anything. Coins are meant to be touched and handled, albeit in a proper manner.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
Experience the World through Numismatics...it's more than you can imagine.
<< <i>
<< <i>" I thought it would be good to have a little fun and explain why so many coin shop owners have slightly bad attitudes at times when in the "shop"......."
There's no excuse for having a "bad attitude". If you're in retail, then you're going to get all sorts of customers and as a professional, you have to learn to deal with it in a professional way.
Substitute your quote above with waitresses, bank tellers, car dealers or any other type of retail person and ask yourself if you would appreciate them having a bad attitude with you just because they had a problem with the previous customer.
It amazes me that coin dealers think they have a right to be rude with customers. What's even more amazing are the customers who enable the behavior. I'm sure we'll see both along any minute in this thread. >>
GoldClause, how unprofessional of you to have a bad attitude by presuming that dealers have a bad attitude with all customers, and presume that any response to a poor customer is a pronouncement of "a right to be rude." You're batting 1.000 here.
Reading comprehension obviously isn't your forte.
I have been to the store a few times over the years. My suggestion would not be easy, but a TV dinner table could be set up in the area away for the cases and where the books are. I am not suggesting this be perminent- just on an as needed basis.
With the number of people here over 50, someone else has to remember these fold up tables that are small and really don't take up much room
Experience the World through Numismatics...it's more than you can imagine.
Just try to explain to them that they are not worth half of what the mint sold them for-they think that you are trying to rip them off. Or how about the old lady that gets all excited when she see a circulated 1889-CC silver dollar in your case for $400 and proudly proclaims that she has one exactly like that and then brings it in and it is a Philadelphia mint coin and is only worth $25. Just try to explain the difference to her before she calls you the king of crooks and tells all her friends about her bad experience.
i will never forget the time when a guy brought in a single war nickel-the dealer offered him 20 cents for it. The guy whispers to me that "The guy down the street offered me 25 cents for it, I am going to take it back there and sell it for 25 cents". The other coin shop was over 1/2 mile away-so this guy walked at least a mile for 5 cents. If he would have told the second dealer what the other dealer offered, he would have given him a quarter for it.
Bob
as for the young crowd - we have a group of foreign and dateless buffaloes in a tray we have the young kids pick from when they come in - to get them interested not only in history, but coin collecting as well!
<< <i>If you feel that it is an excuse, then I'm sure the next time you encounter a waitress with a "bad attitude", you'll understand that she has to deal with "idiots and crazies" all day and is perfectly justified in her bad attitude toward you. >>
GC I think you have the situation confused with a normal retail environment, where prices are fixed, no negotiation, the employee is dealing solely with customer satisfaction with the item or service.
Coin shops are somewhat different. We are dealing in not only selling, but purchasing as well. Everyone is a self proclaimed expert. Many of the customers are misinformed about the value of their items and immediately take a negative position with you - even though you treated them with respect.
Unless you have been in the dealers shoes for a taste of the business, you will never know what is encountered on a daily basis. Of course, I don't endorse carrying that "angry" attitude to all customers that day.....that's just child-ish and shows a lack of professionalism.
Postscript. His girlfriend called me a few days later and asked if I had the phone number for another dealer in the area. Now that made me chuckle.
<< <i>" I thought it would be good to have a little fun and explain why so many coin shop owners have slightly bad attitudes at times when in the "shop"......."
There's no excuse for having a "bad attitude". If you're in retail, then you're going to get all sorts of customers and as a professional, you have to learn to deal with it in a professional way.
Substitute your quote above with waitresses, bank tellers, car dealers or any other type of retail person and ask yourself if you would appreciate them having a bad attitude with you just because they had a problem with the previous customer.
It amazes me that coin dealers think they have a right to be rude with customers. What's even more amazing are the customers who enable the behavior. I'm sure we'll see both along any minute in this thread. >>
Well stated!
<< <i>Great list. Have seen all of these in one form or another over the years. One that really brings back some memories is an elderly gentleman who asked me to come buy and had a bunch of "Newspaper" items he had purchased over the years. The saddest parts of the things I looked was he was sure he could take his 1 ounce .999 One Hundred Dollar Bill replica to the bank and get a hundred dollars for it, and my offer for around spot was an attempt to rip him off. He then went on to tell me that he knew what he was doing and that I should come over and look in his safe for his real "prizes." I kid you not, he had about 30 "Ballistic" roles of Presidential Dollars. The same ones that were in being sold in the paper years ago for $149 each for a roll of 50. He would not accept for a moment that is was all worth only face value. He so much as called me a crook after that. I said that yes there was a crime here, but it occurred long before I got there.
Postscript. His girlfriend called me a few days later and asked if I had the phone number for another dealer in the area. Now that made me chuckle. >>
Good iopportunity to give her the phone number of some dealer who owes you money.........