Bricks and mortar obsolete?

Bankerbob56 · October 29, 2014 3:15AM

Having collected for 40+ years I've come to the conclusion that for my purposes the old B&M just has no draw, no reason to exist in my world of collecting. The advent of the internet provides basically everything I need for this hobby. As my collection advanced through the years, my needs were no longer being met by the B&M. So, beyond the basic collector needs, what does an old fashioned B&M store provide? Just a basic premise, not a slam on brick and mortar operations.

lkeigwin · October 29, 2014 3:23AM

I visit B&M's to sell bullion and occasionally pick up supplies or books. Beyond that, there isn't much that interests me.
Lance.

SeattleSlammer · October 29, 2014 3:27AM

I haven't been the biggest fan of some BM dealers....yet, I definitely want BM shops to survive. I view them like I do newspapers...sure you can get your news from the web...but then you miss the feel of the paper, the sound of the paper, the smell of the paper, the act of flipping through the paper. Same idea holds true with BM shops. For all my complaining I'd sure miss them if they disappeared completely.

MGLICKER · October 29, 2014 3:37AM

Visited a nearby store yesterday. Enjoyed the banter with the 3 fellows behind the counter immensely.

Among the inventory was 2, 1893-S Morgans and 3, 1916-D Dimes.

Picked up 4 nice holdered coins at very reasonable pricing.

Most of my coins are bought online, but nothing can compete with face to face transactions.

garrynot · October 29, 2014 3:39AM

I still like to visit B&Ms. I have three near me that still have interesting things to look at and there is one in downtown Chicago which is great. One near my house has an active bid board with interesting coins, currency and exonumia. Even though I make most of my purchases from the Internet, I still enjoy looking at the real thing once in a while. If all four of those shops went away, I would be very sad.

291fifth · October 29, 2014 3:41AM

If the owner actually knows numismatic coins a visit can be very rewarding.

If the store personnel are jewelry or bullion specialists it is a waste of time.

BillJones · October 29, 2014 3:50AM

The brick and mortar business is very hard these days because of the overhead they have to cover. They also need to go major shows and auctions if they to have a decent inventory. Back in the 1970s and before, good stuff used to walk thought the door. They might get a few collections coming in that way, but from what I can see that so of thing has really thinned out to a great degree.

lasvegasteddy · October 29, 2014 3:57AM

they were the backbone and torch carriers of this hobby for the longest of times

today and the internet...not so much

ms70 · October 29, 2014 4:13AM

Well at least in some parts of the country they are it seems. I wish I had a good one by me.

silverpop · October 29, 2014 4:20AM

no they will fill a need the internet can't,

#1 person to person contact

#2 you get to see the coins in person

#3 making a deal in person

#4 seeing the real world dealings of a coin shop

#5 seeing in person what the coin shop has to offer

LindeDad · October 29, 2014 4:25AM

#6 Being able to witness an actual armed robbery.

Not totally funny as this is becoming the demise of many.

MGLICKER · October 29, 2014 4:40AM

7. Checking out the bid board. Offerings are generally modest, but a great throwback experience.

Unknown · October 29, 2014 4:51AM

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Justacommeman · October 29, 2014 4:52AM

nearly

alefzero · October 29, 2014 5:06AM

Not being a credible futurist, I think the value that B&M shops have had and still have for collectors that cannot be replicated on thee internet entirely will be supplanted by largely internet dealers at larger convention-style shows. Yes, we see show attendance declining, but I attribute that to the hobby's demographics more than anything else. Younger collectors are in short supply (raising the median age of the collector base all the time) and are too comfortable with a virtual exposure on the internet. Older collectors are increasingly unable are just tired of going to shows. They probably keep the B&Ms in business more than anything after the bullion trading.

Intelligent collectors have always understood that there is no replacement for in-hand inspection of coins. (Slabs inhibit a bit of that too.) The advent of third-party grading and the growth of a sight unseen market (which can largely be attributed to the early upstream swimming of Bernard Rome with Teletrade) has provided a market largely for those who collect more as commodities. Heritage images and auction lot descriptions may be excellent, but a true collector still should evaluate a coin in person or at least through a designated authoritative dealer as his/her proxy.

Anyway, there is a need for that as well as the one-on-one learning. You should buy the books before the coins. You can read all of the books and visit all of the informational websites, but you don't get the serial exchange of ideas and inquiries through such impersonal media. This forum, or others, could provide some of that. However, based on the posting rapidity and actively member population here, it hardly serves the broader hobby. It also doesn't provide the private discussion needs.

What a large coin show does is bring a wealth of possible interactions, plenty of competing coin inventories, and other elements into one event. For those of us privileged to live proximate to such regular shows, there is a good deal more potential there than at any network of local B&Ms. If left to online only? eBay for a collector? Good luck!

BillJones · October 29, 2014 5:08AM

<< <i>7. Checking out the bid board. Offerings are generally modest, but a great throwback experience. >>

The was once a bid wall in Boston where I bought a Chain Cent and a 1796 Quarter in VF.

TwoSides2aCoin · October 29, 2014 5:10AM

Watched a cement truck drive by mine today. Then a knock on the door. It was a man who wanted to fill his collection…. He had a list and ended up with a 1911 S Wheat Cent for $20, too. The buyer saw the flip which read $28 , and said, "Will you take twenty ? ". I said, "If you're serious".
He pulled out the twenty and I lost $8 , just like that.

I wish they were obsolete. This haggling is for the birds.

johnny9434 · October 29, 2014 5:17AM

i wish we had a decent b&m store here that i could go to. i stick close to the coin shows and the internet.

sparky64 · October 29, 2014 5:43AM

like many things, you don't realize what you have until it's gone.

shorecoll · October 29, 2014 6:21AM

I think the lack of B&Ms is seriously damaging the YN side of the hobby. That doesn't mean they aren't obsolete, but people randomly deciding to collect something randomly, like CWTs or coal mine scrip, etc. are going to be tougher. On the Internet (right now) you have to look for something to find it, you won't randomly trip over political badges, HTTs, colonial currency, etc. So the volume of kids noticing cool stuff at the hobby shop that sticks in their minds is much reduced.

TwoSides2aCoin · October 29, 2014 6:37AM

Brick & Mortars will never be obsolete. We used to think barber shops were, too. I know a lot of people who've never been to one of them. As a matter of fact, I know a guy who thinks banks are obsolete.

thisnamztaken · October 29, 2014 8:05AM

<< <i>7. Checking out the bid board. Offerings are generally modest, but a great throwback experience. >>

Some of my fondest memories are of weekly bidding on 3 different B&M bid boards back in the late 1970's-early 80's. If only I'd had the wisdom back then to buy Bust and Seated coins that were hanging on those bid boards. I also enjoyed the excitement of watching silver coin prices escalate almost daily during the Hunt Bros. fiasco. Ahhh, those were the days. Well, at least until the silver bubble burst around 1981.

LanceNewmanOCC · October 29, 2014 3:59PM

.
I

B&Ms.

the internet has it purpose but doesn't match sitting in front of actual people getting your fingertips dirty from handling the REAL thing. no crappy images (other than bad eyes), seeing people you know

come in and out, hearing the usual (i thought it was worth a LOT more than that from walk-ins), getting handed a monster of a coin from time to time that the owners "just" got in and took the time to

share with you. getting to see children that are generally interested in numis is a great joy as well of course you can see the youngsters on the bourse but overall i've seen more in b&ms.

also, selling with no fees, other than a little gas and lunch money is nice.

<< <i>Bricks and mortar obsolete? >>

for me, not even close.

.

410a · October 29, 2014 9:06PM

I love those B&Ms it's just that the owners are croched pants miserable old prik's that "sear your brain with words and puncture you" when you first come in as if everyone is an idiot. Offering common date indian cents ungraded in bad lighting about MS63 at best for $250. With every stupid line imaginable. This doesn't add to their allure, not to mention most only exist to "get the daily or weekly "RIPS" from the old lady accumulations" and unknowlegable public. It's a tough hobby these days and to tell you the truth; "I miss the old days of the late 1970s when even though there were bucket shops the dealers and the help were much more fun and accomodating"

TwoSides2aCoin · October 29, 2014 9:50PM

Thread title reminds me of Susan B. Anthony on Miley Cyrus' wrecking ball.

ambro51 · October 29, 2014 10:38PM

A great deal of material enters the market through BMs

Mission16 · October 29, 2014 11:01PM

The one local B&M offers nothing but dreck in the store but has the good stuff out at a coin show.

I find it easier and more efficent to go to coin shows. Like the gun shows I go to, there will be FAR more variety and volume at a show.

Steve27 · October 29, 2014 11:04PM

Upon seeing the local B&M guy buying inventory at a show, I knew there was nothing I needed at his place. Yes they're obsolete.

DrBuster · October 29, 2014 11:31PM

I unfortunately haven't been to my local B&M in a solid year. I do like going in to chit chat and browse/buy. Need to swing by honestly, but the kitchen cabinet money I spent yesterday would have been the moolah for several of my usual visits. 2014 has been a home, and not collection, improvement year.

coindeuce · October 30, 2014 12:30AM

My customer who has owned a Stella for thirty years came in last week to buy a Proof set and a Mint set from his birth year. He doesn't play the internet.

CoinZip · October 30, 2014 12:36AM

I think the B&M's of yesterday can not exist in today's economy without adapting to the changing needs/wants of today's collector. For example I would be 100% more likely to spend time & money in your store if you had a section where I could set down with my laptop and coffee and look at coins. I carry my own internet connection with me, however why not offer your customers free wi-fi.

Have a library section of your store, buy and sell used industry related books.

One of my good friends always throws the quote at me, "Things change & people are funny."

TwoSides2aCoin · October 30, 2014 12:41AM

Old fellow comes in and says : " The sky is falling".

I said, "okay… I'll pay you spot and put it on ebay".

Call it spam, call it junk. It's so bad, I had to shut the door. There's just too much to buy and not enough collectors who "buy" this sort of stuff

Need beans.

DeepCoin · October 30, 2014 1:05AM

The only way I see a B&M making any sense at all these days is for it to be a home base for a dealer who travels the show circuit, and also has an online presence. You need a place to work and also a secure place to store coins. Plus if you are more than a one man band, it gives your employees a place where they can do their major business and still enjoy the ability to do bullion and buy from the public at the same time. The key is not getting bogged down in low end stuff that will never move. The days of substantial sales to the public at a B&M are over IMHO.

crump41 · October 30, 2014 3:11AM

I think the better stores will stick around. Most hobbyists aren't hanging out on message boards, flying to major coin shows and buying slabbed coins. They are filling their albums with coins they can afford and are having fun while enjoying being able to chat with the owner and kick the tires. Not to mention buying bullion and selling scrap.

Elcontador · October 30, 2014 4:09AM

There aren't enough serious collectors to support many brick and mortar shops. The one closest to me used to be owned by a convicted felon. The ones I've seen locally do a lot of bullion business and some try to sell high markup items such as jewelry. The only coins they have are items which they can flip quickly. They haven't had anything in stock which has interested me in over a decade.

I did visit a shop when I was in Fairbanks, AK. The guy has been in business for quite some time, and actually had some numismatic coins, in addition to Alaska knick-knacks for the tourists, plus the bulllion business. But he was the exception to what I see near me.

agentjim007 · October 30, 2014 4:12AM

Horse & Buggy
S&H green stamps
Spiegel's
EJ Korvettes
Coin shops

Things change.

AMRC · October 30, 2014 4:48AM

Great for buying from the general public. As long as they sell on-line, and have fairly consistent traffic coming in and selling grandma's hoard, they still work.

ScarsdaleCoin · October 30, 2014 12:36PM

My take is gen y is a different customer that older dealers cN not relate to. I think changes are in store for the way transactions occur in the future. My 3 cents.

MedalCollector · October 30, 2014 1:04PM

<< <i>Great for buying from the general public. As long as they sell on-line, and have fairly consistent traffic coming in and selling grandma's hoard, they still work >>

This is called a clicks and mortar operation.

Dave99B · October 30, 2014 3:11PM

The one near me is a HUGE buyer of coins, gold/silver, and jewelry. They also have a good selection of both slabbed and raw material. It's not uncommon to see seven or eight people working behind the counter. This one is going nowhere!!!

Dave

Justlooking · October 30, 2014 3:20PM

Brick and mortar everything may be gone soon. Corporate greed dictates that all goods should be purchased online, from one central facility. Like the U.S. Mint.

CoinMiner1 · October 30, 2014 3:57PM

No, there will continue to be a niche for the B&M imo.

Here's my reasoning - the quality and quantity of counterfeit coins (and slabs) will create an even larger demand for an outlet where folks can buy coins from an actual person, not just a moniker on the internet. The dealer at the store will be there tomorrow to buy back coins guaranteed today (more or less).

That said, I buy more and more things online - not just coins - so the market will change.

Nevertheless, even if I buy an oil filter or wrench online sometimes you need to take the car to a good mechanic (and those aren't all that easy to find anymore either).

Bricks and mortar obsolete?

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