Worst Coin Shop experience
bignubnumismatics1
Posts: 73 ✭✭✭
I've luckily never had a bad coin shop experience, but I know plenty of collectors have. I've had some unpleasant dealings with dealers at shows, but they didn't do too well as he scared everyone off. What's one that sticks out, grinds your teeth just remembering?
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Sounds like a "complaints about coin dealers" thread here.....
OK, I'll start. Coin store attempted to buy proof coins at face value from me. I was a kid, but not that dumb.
So... 200+ posts, then?
Dealer wouldn’t let me look at anything. Weird.
BHNC #248 … 130 and counting.
Telling the interns to inventory 12 boxes of proof/mint sets and it takes 2 weeks to get it right!
Just the dealers who act like you're bothering them. I won't return to their stores.
Most coin dealers are old rich people who don’t want you to bother them. I never buy from people who are rude to me.
"Hey you! What are you doing in here? Don't you know this isn't a coin shop? This is just a place full of windows I use to show off my coin collection! What are you, jealous or something?"
I went into a coin shop last year that had literally no coins in it. It's a shop I had heard about and wanted to visit for years but was always closed when I went there, and it was a huge disappointment when I finally did.
All they had was some jewelry and a few of those 'silver rounds' you see as filler in Littleton catalogs.
Some coin dealers are rich. The median age of a coin collector is 72. Probably half of all old people are cranky, but not necessarily rude. I rate your statement as half-true, mostly because no one likes to be bothered. But not because they're all rich old farts with a proclivity for rudeness.
When you walk into a coin shop, the number one thing the experienced shop owners will ask you is "What are you looking for?" ALWAYS have an answer to that question! No shop owner likes a looky-loo/window shopper/tire kicker. They can tell when you're "just looking", which they consider a waste of their time to interact with you. They'd rather get back to looking at old photos of Betty Brosmer than your sorry behind. I don't blame them!
Dealers who treat you like you don't know anything
For instance, you go in a store, and you ask if they have something like a certain year mint set. Then they ask “how many you want?”” And you tell them you want to look them over, and select one. And they act annoyed, and reply “Why? They are all the same?
Or they stare at you, and watch your every move like a hawk, like they think your going to steal something?
Or, when I was younger, and asked to see something, they would say “You can’t afford that coin!”
And as far as always having an answer for the dealer “what am I looking for?”, most of the time I do not know until after I look around. If they don”t like it, too bad!
I took in a CAC MS66 1911-D Saint to a coin shop and he offered under melt for it. It was a test, I had no intention of selling it, I then proceeded to cherry pick him for about $10Gs. One of the coins is a 1/0 or 2/0 FS Jeff that Hansen now has - play stupid games win stupid prizes.
When lived in New Jersey, I ran into a dealer like that. Collectors warned me about his reputation. I offered him a couple of type coins. He offered $20 for an item that was on the Grey Sheet for $200. This was in the 1970s when $200 actually amounted to something.
Some dealers don’t have the customers for what you are offering. The proper thing to do is to explain that to the potential seller. When I was a dealer, I knew dealt in just about every aspect of the coin market. I knew who specialized in specific things at the shows who would pay me wholesale prices. But if I bought something that was out of my realm, I had to pay less than wholesale.
The worst experience I had was when I had several hundred dollars worth of junk silver to sell. I went to a guy’s shop and he treated me like dirt. This guy had a reputation for doing that. He treated me the same way at a Baltimore show. Later I heard from other dealers that they had had the same experience with him. It was my understanding that he had had a bad experience with the IRS and FBI, and it made him leery of everybody. Maybe he needed to find a new profession.
I have had countless bad experiences at our local coin shop (now closed). One memory that stands out is asking a question about a coin’s price. Since the coin he was selling was Very Fine I asked how much the same coin in Unc would be (I was trying to decide at the time if I could wait and afford an Uncirculated example of the type coin or if the prices were way out of reach for me). He told me to look in the Coin Book he had. I was getting ready to head towards the book section when he said “if you open the book you have to buy it.” I was like forget it and left.
Every time I catch a B&M open on my travels, I remain optimistic in the hunt but have low expectations going in. At times I’m delighted but never disappointed with this attitude. Some of the weirdest experiences are the funniest memories. Sometimes I feel a shop I bumped into could be a great if I was a local and had more time to get to know the folks.
I think of the coin dealer in Los Angeles who was robbed numerous times, and numerous times shot the attacker.
Maybe they just get jaded over time with stress, fear, and broke people.
Maybe the are just looking to rip you.
Most of my experiences have been good to positive.
One guy had some VF raw Buffalo nickels on display along with a ton of other cleaned and circulated junk.
I asked if he had any AU/BU Buffs.
His visiting buddy laughed and said they were for the owner and all locked up in the safe.
The owner just smiled and did not move.
Oh well... he was a good place for selling your PM's.
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I was traveling and happened to be close to a coin shop with a nice website featuring some nice coins. I thought I would drop in and have a look- the cases were full of junk and I was told the nicer slabbed coins were in the safe and the owner was out. Case closed!
My experience was about 20 years ago.
I can actually see the benefit in 2021 if the dealer focus is online sales and shows.
At the last show, I asked a dealer where he got his material since he attended 40 shows a year.
"It comes into the shop."
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There was one coin shop in Seattle that had attitude. Treated me (and others, I know several who had the same experience) as if I were bothering them. So after about twenty minutes of this attitude, I cherry picked an AH Kennedy and left. There was a shop in Renton though that was great. Even had a coin board, and a discussion area where other customer/collectors could sit and talk coins. Cheers, RickO
That's ridiculous. If you really were trying to sell it, there are other dealers I'd have in mind for a CAC MS66 Saint.
Brought in some raw GSAs to a shop, including a 1879cc, 1890cc, and 1885cc. (subsequently graded 64, 62, 65). Asked the owner his opinion on their grades. He, unsolicited, offered $150 for each of them saying they were in below average condition and tough to move.
There's a reason for that. After they hand you the box of mint/proof sets to go through looking to cherrypick cameos and doubled dies and don't find anything, you hand the coins back, buying nothing. Lather, rinse, repeat. 100 cherrypickers later, the boxes/envelopes look like they've been gnawed on by weevils and when someone finally comes in who just wants a particular year, they pass on the set because the box/envelope is so ratty.
How many times does the dealer cherrypick the cameos before a customer comes in to the shop?
When I first started collecting I stopped by a local dealer, he sold me all his cleaned bust coinage for uncleaned prices, nice guy. Lesson learned, I never thanked him
Worst coin shop experience?...... Well there I was, sitting at the counter looking through a box of Jefferson nickels. The young man minding the store was sitting at his desk busy with a pair of pliers cracking little yellowish white objects. I asked him what he was doing. He brought over a small tray and placed it on the counter. The tray was covered with tiny crushed fragments of human teeth and bits of gold. "It's the worst part of my job. I hate the sound it makes when they break.", he said. No doubt.
Depends on the dealer. Some look, some don't.
And......one time when I was looking into the glass case I glanced up and noticed that the proprietor of the shop was looking at me in a very suspicious way and at the same time his eyes were looking sideways at the AK-47 leaning up in the corner. I very quickly selected a Buffalo nickel, handed the man a fifty dollar bill and made a hasty retreat. I didn't even wait for the change.
I knew a dealer who didn't like his customers talking to each other. Another dealer once me he had the coins I was looking for but didn't want to get them out.
Drove about an hour to a coin store that I had been meaning to see for a while. Once I got there, there was literally nothing except a few boxes. The guy told me to come back with a list of specific dates that I wanted. They weren't hostile but it was just super awkward. Felt like a fever dream.
I am extremely lucky to have an honest and fairly priced coin store just 15 minutes away from me. God knows what I would be doing without it.
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Overall I have enjoyed dealing with shops, have a lot of respect for these entrepreneurs. However, I had one owner very early on who sold me several obviously altered type coins as unc, before I grew "eyes". This was when I was about 12, hard to imagine what sort of person would do that to a YN. A good lesson tho.
If you've been doing this for more than a few years, you probably have a "story"... for me, they all just meld into one big "bad experience" and I can't really tell one from another. In my experience, there are many more good B&M shops than bad ones.
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Thread like these, negativity inducing topics, sadden me.
USAF (Ret) 1974 - 1994 - The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. Remembering RickO, a brother in arms.
It is good manners to buy at least one set if a dealer lets you look through their stock.
Collector, occasional seller
Some B&M dealers are obviously more social than others, but I can't really say I've personally had a 'bad' experience. If I see a good deal, I'll buy it, whether the dealers is friendly and chatty, or totally bothered by my existence.
That said, I've seen some transactions that turned me off. Most were the typical 65-80 year old widow bringing in her late husband's collection for an appraisal and sale. Let's just say I've seen some dealers seriously take advantage of them. Sad to watch.
Dave
Let me start off by saying that I've had many many more pleasant coin shop experiences than bad ones. I've only had 2 bad experiences in over 30 years and I don't really consider them that bad. It may have upset me at the time, but in their defense I'm not sure I would have done things any different.
The most recent one was a couple of years ago in a shop in Pennsylvania where the dealer and his wife could not be bothered to find me some PCGS coins to look through for my US type set. I showed them I had money to spend and had some of my coins with me to show them what I was looking for, but they said that they did not have time to find the coins I was looking for and that they were too busy filling bullion orders. I was disappointed, but they were polite and the wife apologized that they were unable to help me.
The other bad experience happened over 30 years ago at a prominent dealer in Boston. I buzzed their buzzer to be let in and they would not buzz me in and they motioned for me to go away. Thinking about it now, I can't really blame them for that as I dressed like a greaser from the 50's. I was wearing a white tee shirt with a leather jacket and leather cap and sporting an unkempt beard. I likely looked like I was going to rob the place. The good news is I went back with my wife the following weekend and was buzzed in.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
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I agree with you. I posted two experiences that I had but I thought they were actually humorous. Not really bad but funny experiences. I made a mistake. For the record..... I've NEVER had a BAD experience in a coin shop. And.....I've been visiting coin shops since I was 6 years old. Oh,.....how my Dad got the word from Mom on Saturday mornings,.......... "He wants to go to the coin shop." And off we went! May they both Rest In Peace.
This reminds me of one of our customers when I was working in a shop "back in the day." This gentleman would show up on his way home from work to buy coins and silver bullion. He was always dressed in a blue or gray suit, white dress shirt, tie, nice shoes ... and he looked like the accountant he was.
One Saturday, the shop was slow and up pulls a loud, custom vintage Harley. The guy looked rough. Two sleeves of tattoos, leather riding gear and a swagger. He comes into the store and we were a bit tense. He takes off his sunglasses and lowers his bandana and it was ... you guessed it ... our accountant friend. It was awesome!
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
I walked into a few that clearly have made the transition to online and once they saw I wasn’t there to sell dads coins they were done with me.
11.5$ Southern Dollars, The little “Big Easy” set
After stopping by local shops all across the Western USA since I got back into the hobby as an adult in 1998 it takes about 10 seconds for me to determine if the shop will be a:
Once and Never Again experience;
I will visit again if I happen to be passing through experience; and/or
I need to stop by this place on a regular basis and become good friends with the owner experience.
Most fall into categories #2 or #3. Usually a #2 type of shop moves into either the #1 or the #2 category after a few visits.
I've felt this way too. I guess they mostly sold online and had a store to score rips.
i wasn't going to post but then the worst experiences occurred to me right when i was about to log off.
the worst experience(s) at coin shops i have had, the worst of the worst, were my own fault. truth
outside those, it really takes something bad to make it a bad experience, usually just thin inventory. insults, high prices, waiting times, etc come with the territory and it is pretty much the same at shops/shows. some are fast, some are slow, some are happy, some are sad, some are fair prices, some are high prices.
there is probably an average of what is considered a bad experience but i've also noticed sticky customers that are too sensitive as well. so bad experiences are at least half of the time a matter of perspective. something along the lines of "we see the world not as it is but as we are."
Along Cannery Row in Monterey, CA in the early 1980s was a small coin shop, mostly world/non-US stuff. I lived near there at the time and went there twice during my early teen years. Both times, it was the same guy who had a huge frown on his face, refused to look back at me and didn’t say a word. I mean, it was a serious, mean-looking, forced frown.
Got the clue, left quickly, and didn’t bother going back since, though I lost interest in collecting soon after anyway. Not surprisingly, shop was long gone when I visited Cannery Row 10 years later.
All other visits I've had to physical coin shops were overall pleasant experiences.
B&Ms have been more about buying than selling for years
11.5$ Southern Dollars, The little “Big Easy” set
When I was a 10-13 year old in 1977-80 my dad started taking me the local coin stores every few Saturdays, I'd save my lawn mowing and pool cleaning money and maybe have a little junk silver from grandpa to sell, and would be shopping for 20th century type coins and Morgans, then some seated Liberty and bust coins
We had our "usual" place which I did and still do consider a perfect coin shop: they were very patient and let me hang around an hour or two, and even hinted at me getting a job there some day. They had display cases with all the usual array of coins both US and foreign/ancient, one of those rotating cases for jewelry and exonumia, his car license plates collection all over the walls, and a big old brown double door safe with a golden eagle painted on it with all the good stuff during the day and most of the inventory at night. Nice coins at fair prices, run by a nice man, his mom, and her 2nd husband.
The other shops in town and on occasional travel ran the spectrum of the stories mentioned in other posts, and were the reason we considered ourselves lucky to be regulars at our favorite. Probably the reason I'm still a collector, come to think of it.
Liberty: Parent of Science & Industry
For many (most?), that's the only way to stay in business.
I mentioned the following in a prior discussion but it's relevant here. The area I live in has maybe a million or so people within an hour/hour and a half drive and around half a dozen coin shops. The local coin club's annual show attracts about 500 people.
500 / 6 = 83.3
How many shops could stay in business, depending on 83 buyers?
When I was a kid my Dad took me to a coin shop. I looked at a folder of Indian Cents. I picked out a run of common dates in Good or so. The dealer took the folder to the back room. He returned with my Indians in a brown paper bag. When I got home he had switched the 1907 and gave me a coin that had a huge cut on the obverse. I never returned to that shop. I started going to another shop and over the years spent a very good sum of money with them.
The same thing happened to me in Santa Cruz CA...
First, your math is wrong because some collectors won't attend the show, and because some collectors will buy from multiple shops.
Second, even 83 buyers could be fantastic.
FWIW, I'd love to own a coin shop if I ever get to the point where I can't travel. I think it would be a blast, and profitable
Doggedly collecting coins of the Central American Republic.
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