Numismatic material found in Houston area mall

stevepk · July 9, 2014 3:17AM

I never expected to find collector coins in the mall, so I was surprised when I did. The store was titled 'Cards and Comics' and I decided to browse their baseball cards, assuming they had sports cards. They had a few, and next to the baseball cards was a case of coins and currency. I can recall a few items on display:

1. raw 1869 Indian head cent in XF condition with a hole near the 'S' of States for $189
2. stained and torn $10 buffalo note for $399
3. worn down 1957 and 1935 small sized $1 silver certificate notes for $15 each
4. collection of 12 of the absolute worst large cents I've ever seen for $15 each
5. 1813 Classic Head large cent in PCGS Genuine holder
6. raw 1914-D Lincoln cent which I did not ask to see
7. mixed world coins, all modern and common, do not recall the price

Nearly all of the coins were over priced and had problems. There were more than the listed coins above, but these are the ones I remember since my visit a couple of days ago. The store attendant was present and I had a few questions for her.

Me: Can I see the Indian Head Cent? I'm curious what the date is
Her: (hands it over)
Me: Can I see the large cents?
Her: (hands them over)
Me: Do you also buy coins?
Her: Yes
Me: I have plenty of these, but they are all in significantly better condition. Do you pay according to condition?
Her: Yes. Typically the better the condition, the more we pay. We offer free appraisals on Mondays from 3:00 PM to 9:00 PM
Me: What is your pricing structure based on? Greysheet? Auction achieves? Redbook?
Her: Yeah. Just bring it in. We take it all.
Me: So is there a pricing structure, or do you offer just whatever?
Her: Yeah. We just offer whatever.
Me: What type of coins are you looking for?
Her: Old coins
Me: Unfortunately I do not carry my coins with me and did not know about your free appraisal service. Maybe next time I can bring them in.
Her: Bring your entire collection and my boss will take a look at them

I doubt I will bring in any coins because of the risk involved with carrying valuable coins, but at the same time, I would be entertained by being insulted by their offers. The coin in my avatar is an example from my collection. I assume their offers would be insulting low as overhead in a mall store is huge and there are few buyers of numismatic material in the mall. If their problem coins on display were worth so much money, I would be curious what kind of reaction I would get with my carefully chosen, high grade and eye appealing PCGS and NGC certified coins. I would like to hear their buyer tell me that my beautifully toned 1820 large cent in NGC MS62 is practically worthless when they have a selection of barely identifiable and horribly problematic large cents for sale at $15 each.

Am I being too pessimistic with my expectations? Should I bring in a few just for entertainment value? Should I give the potential buyer more credit? Keep in mind this is in a cards and comics store in the mall that is not intended to draw the numismatic crowd, but rather a comic book fan who happens to appreciate just how cool a cent from over 150 years ago is and knows nothing about coins.

What should I expect if I chose to bring in a few coins?

Unknown · July 9, 2014 3:24AM

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Broadstruck · July 9, 2014 3:27AM

You need to take a few coins for appraisal just for the fun it and being able to report back!

Dentuck · July 9, 2014 3:37AM

See what they do with common-date silver. What percentage of melt will they offer, I wonder?

LanceNewmanOCC · July 9, 2014 3:40AM

<< Am I being too pessimistic with my expectations? Should I bring in a few just for entertainment value? Should I give the potential buyer more credit? Keep in mind this is in a cards and comics store in the mall that is not intended to draw the numismatic crowd, but rather a comic book fan who happens to appreciate just how cool a cent from over 150 years ago is and knows nothing about coins.

What should I expect if I chose to bring in a few coins? >>

"Our doubts are traitors and make us lose the good we oft might win by fearing to attempt."
.

telephoto1 · July 9, 2014 3:58AM

Given what you've seen, you certainly already know the answer to the question of how much these people will pay for coins, so I wouldn't waste my time playing games with them.

Bochiman · July 9, 2014 4:09AM

<< 
I doubt I will bring in any coins because of the risk involved with carrying valuable coins, but at the same time, I would be entertained by being insulted by their offers. The coin in my avatar is an example from my collection. I assume their offers would be insulting low as overhead in a mall store is huge and there are few buyers of numismatic material in the mall. If their problem coins on display were worth so much money, I would be curious what kind of reaction I would get with my carefully chosen, high grade and eye appealing PCGS and NGC certified coins. I would like to hear their buyer tell me that my beautifully toned 1820 large cent in NGC MS62 is practically worthless when they have a selection of barely identifiable and horribly problematic large cents for sale at $15 each.

Am I being too pessimistic with my expectations? Should I bring in a few just for entertainment value? Should I give the potential buyer more credit? Keep in mind this is in a cards and comics store in the mall that is not intended to draw the numismatic crowd, but rather a comic book fan who happens to appreciate just how cool a cent from over 150 years ago is and knows nothing about coins.

What should I expect if I chose to bring in a few coins? >>

So, you don't like what you see and just want to mess with someone and there business because you disagree with their prices?

I don't have a love for people who rip others on prices and such, but I also don't believe in going out of the way to mess with others. The questioning you gave the gal, if I were her, would have had me just shaking my head and wanting to just end things quickly as there really isn't a feeling of wanting to do business. That was easy to see. Even if you take your coins in, and they offered a FAIR price, would you sell?

The reason I ask is there was a similar shop, years ago, in a local mall. Never much on display worth anything, and all overpriced.
However, they did an eBay business so they actually bought better than one would think. But, because they were pumping it out another venue, most didn't see that.

silverpop · July 9, 2014 4:42AM

not worth the time to bring in your coins to that shop

FullStrike · July 9, 2014 6:01AM

Just for laughs I've been thinking of bringing in a $50 1 oz AGE and seeing what I'm offered in a place like that.

It's a $50 Coin but we may be able to offer you $75 because maybe a Collector will give us $80 for it.

Is that a real Coin? My Boss might give you $50 but he thinks it might not be real.

Unknown · July 9, 2014 6:45AM

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SlvrandGld · July 9, 2014 6:47AM

I would definitely take a really nice coin in there and see what they say, and report back!

BryceM · July 9, 2014 6:50AM

.... as others have said, you probably already know the outcome.

Are you really that bored? Are you prepared to actually sell anything? If not, the whole adventure is based on a false pretense, and most people would find that insulting.

CoinRaritiesOnline · July 9, 2014 7:08AM

<< .... as others have said, you probably already know the outcome.

Are you really that bored? Are you prepared to actually sell anything? If not, the whole adventure is based on a false pretense, and most people would find that insulting. >>

Ditto.

Unknown · July 9, 2014 7:16AM

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streeter · July 9, 2014 9:12AM

<< 

<< .... as others have said, you probably already know the outcome.

Are you really that bored? Are you prepared to actually sell anything? If not, the whole adventure is based on a false pretense, and most people would find that insulting. >>

Ditto. >>

Ditto the ditto.
Leave these people alone and do something productive.

Bochiman · July 9, 2014 9:14AM

<< I like taking decent coins to stores like this. Many of them haven't really seen nice coins and you can sometimes get them to overpay. Can't hurt to try. >>

So, did you honestly take the coins there to get them to "overpay", as you state, or to screw with them, which seems to be the premise of the original post?
You say to "lighten up", but I guess it's just that I don't believe in screwing with people and their business if there is no proven wrong doing (overpricing actual crap.... that someone can look at and hold in hand... isn't really wrong doing. It's moronic and not right, but not really wrong doing.... and there isn't any proof as to why it is priced that high (ie....actually knows the value or is just putting things out there) or that he wouldn't mark things down.

Just sad seeing people's posts that think it is ok to mess with others (here and on eBay) when, again, there is no proven wrong doing... just someone not liking what they see.

greghansen · July 9, 2014 9:21AM

I just wish I had the time to entertain myself with such considerations.

savoyspecial · July 9, 2014 10:48AM

there are probably some commercial spaces available for rent nearby......why don't you open your own shop?....if this 'mall shop' is as bad as you say then you will quickly run them out of business with your more than fair buy/sell spreads

what you may find is that it is harder than it sounds...

Overdate · July 9, 2014 10:59AM

Bring in something that they're selling, only in much better condition. For instance, see if they will offer you $15 for a nice uncirculated 1957 silver certificate. (They're going for $3 and up on eBay).

Shamika · July 9, 2014 12:32PM

I like the idea of tempting him with some premo pieces. Do it and report back.

leothelyon · July 9, 2014 12:55PM

<< You need to take a few coins for appraisal just for the fun it and being able to report back!

>>

He can always take that chance. In my case, who'd want to roll me for my nickels?

SamByrd · July 9, 2014 2:06PM

<< there are probably some commercial spaces available for rent nearby......why don't you open your own shop?....if this 'mall shop' is as bad as you say then you will quickly run them out of business with your more than fair buy/sell spreads

what you may find is that it is harder than it sounds... >>

could not of said it better.

coppercoins · July 10, 2014 2:07AM

Remember that rent at a mall is very high, so they have to buy VERY cheap to turn anything over at a profit. Any coin shop running on the premise of a retail business model in that they expect a 40-50% turnover is doomed to failure. This is why coin shops in malls are quite rare.

nags · July 10, 2014 2:12AM

<< I just wish I had the time to entertain myself with such considerations. >>

I agree. I don't like to have my time wasted so I try not to waste others' time for my own amusement.

Boosibri · July 10, 2014 2:48AM

What did you hope to accomplish in the store and in sharing this here?

Numismatic material found in Houston area mall

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