What is your LOCAL coin market like?

291fifth · October 19, 2003 11:40AM

Let's forget about the big auctions, big name dealers and big shows for a bit. How is the coin market in your locale? Is there much worth buying? Do the dealers pay anything? Is there any sign of the booming coin market we hear so much about?

In my market, the Detroit area, there is an active market but quality coins are hard to find. This is a market in which the dealers live by the sheet. If you want to sell you will almost certainly get less than bid, even for your nice material. It can be a good market for buying...if you can find anything to buy. The local shows tend to be filled with VERY stale merchandise and the store dealers stock isn't much better.

darktone · October 19, 2003 11:56AM

We have no local coin market. I don't think anybody even sells coinworld. A county with a 150,000 should have at least one coin shop? should it not? mike

CoinHusker · October 19, 2003 11:57AM

what local coin market? As far as I know one doesn't exist where I live.

gsaguy · October 19, 2003 11:57AM

Louisiana is a numismatic wasteland.

GSAGUY

tsacch · October 19, 2003 12:02PM

a mall has a collector shop with dolls, baseball cards and a few coins........................stinks like crapola. an old dude has a shop south of me about 30 miles........hours by appointment only, or if your lucky enough to go there when he has another client.........over priced, over graded. 45 miles west is two dealers, one is realistic, the other has items he thinks belongs in the smithsonian

numonebuyer · October 19, 2003 12:14PM

No such thing in my neck of the woods (east coast of central Florida).

Numonebuyer

DHeath · October 19, 2003 12:16PM

Tsacch must live close to me. LOL

There are collectors here, and a local association that sponsors a show, but no decent sized shops. Most of the dealers who attend the regional shows tend toward Segs and PCI slabs (or their own), and price the coins ASK. Finding a decent buy requires careful inspection and lots of patience.

grover1 · October 19, 2003 12:16PM

same, same here although its harvest season in this area and alot of the local dealers are farmers in need of money right now so they are selling stuff below grey sheet and paying higher prices for MS63 morgans and higher. I'm finding plenty of good coins in high grade pcgs, ngc, anacs, segs, agc, pci, and icg holders at 2 locations as well as really nice raw product to work with for my own grading excursions.

i.e.

1. Sold 1878 7/8 TF VAM40 Raw BU for 100.00....bought it for 35.00

2. Went to Kuehl's Coin Exchange in Fairmont Minnesota. Went through about
20 differnt proof sets. Came home with......
1 1960 sm date proof set - 34.00
1 1970 sm date proof set - 13.00
2 1961 proof sets - 11.00 each
1 1976 clad proof set w/ the ike - 7.00

3. Got home....so far I've broke out the first 1961 and holdered the whole
set.....the penny was rainbow toned...a real beauty...the nickel is a
mixture of lavender and then some light rainbow toning.....the quarter was
deep cameo....the dime deep cameo and the half was cameo...all PF67 and
PF68's in the set.

4. Going through second set of 1961's.....found what might be the doubled
die franklin proof for that year....have had it at 2 dealers since
yesterday....both say the same...its to close to call...could be machine
doubling but yet there is doubling that don't fit for that....could be a
doubled die that brings the big premium...their advice....send it to pcgs or
anacs for comfirmation.

5. Sold 1 roll of 2003 nickels..P mint to my local dealer to butter
him up...within the first hour of having them he sold 2 of the lesser
quality coins from the roll for .50 cents each....no 2003 nickels in circulation or by the roll from the bank in this area...had to buy these from larryo on ebay. Price $4.75 a roll

All in all I would say its a buyers market and sellers market .... the booming coin market....I can feel it building.....you can see it in prices of keydates going up like they are.....its coming and when it hits...those holding the good stuff are going to make money like the stock brokers in the 90's did....buy it now cheap because I believe myself that 6 months from now...those 11.00 -20.00 proof and mint sets are going to be more like 30.00 and then the rarer stuff.....who know's.....individual coins.....I've been noticing a slow creep up in prices on ebay...I spend about 5 hours a day...disabled vet ... anyways I'm always checking auctions looking for the next special coin to add to my hoard and been noticing it going up......i.e. for the last 2 months....my 93 proof silver eagle has had a steady growth in value of my purchase price. I have a few other coins that are doing the same....on the other hand my 2000 silver mint proof set has taken a dive.....but then the 1999 silver proof sets has seen steady increases in value.

Personally I think the boom is coming because to many people took it in the arse when the market fell apart...corporate scandal has scared would be stock buyers into putting their money someplace safer where they can keep their eyes on it and are more in control of when it gets traded and then the fact that the stock market is still up and down like a roller coaster....there is not stability in the market but then your buying a piece of paper hoping that the company you gave the money to makes a buck so you can....coins is almost the same in theory but yet its not.....you can keep alot closer tabs on your investment when its in your hands than if you have a fortune 500's corporate officers trying to handle the company money good enough to turn a profit....therefore anything that is material in value is bound to get a spike soon.

heh...pretty long winded 2 cents worth eh! :-))

Matt

mintluster · October 19, 2003 12:17PM

I guess I am pretty lucky.
I am living in the Washington DC-Baltimore-Northern VA METRO area and there are TONS of coin shops.
There is one I always go to becuase I have been comfortable with the manager there for about 4 years now.
Its called Century Stamps & Coins.
The Manager, John is a great guy. Very fair prices.
Always cuts me special deals because of the constant repeat business I give him. Thats the key.
If you are always going to one guy it becomes easier and easier for him to give you 15-30% each time.
This is a heavy coin area so I am lucky.

Fairlaneman · October 19, 2003 12:22PM

Oregon is a Wasteland also. Atleast for what I want.

I think most of the Dealers around here Ebay the Good Stuff and keep the Junk for the collectors that do exist. One guy does let me know when he gets something of interest for me but that happens about once a year. Heck the coins I have sold to him outrank the purchases atleast 10 to 1.

Coin Market around this area with 3 Million people.......Ask some of the other NorthWest folks. I have No Clue.

Ken

BigE · October 19, 2003 12:38PM

Ditto Ken, same here on the Oregon Coast--------------BigE

grover1 · October 19, 2003 12:39PM

if you guys want an address and phone number to an excellent coin dealer who is fair and negotiates prices w/ me so far..seen plenty of high quality product of just about every coin made in this country except maybe for the early 1800's and older..not that he doesn't have access..just I've not seen anything myself that early in his shop..but I've seen plenty of high grade coins, holdered and raw in just about every grade you would want..

anyways if you want to the information email me...I don't want to spam the board anymore than I just did

matt

BigD5 · October 19, 2003 12:44PM

I should also consider myself to be in a "good" area. I have a good coin show (not just a show, but 50 table size) I could attend each and every Sunday. At times, there isn't much "good" stuff floating around, but that just means you have to work harder to find the hidden jewels.
The Nashua N.H., Westford Ma., and Auburn Ma. shows all attract dealers from all of the N.E states, as well as NY on occasion. There's a smaller sized show coming up in Portland Maine the first Sunday in November, that I'm trying to clear my schedule for, also.
The cost of real estate, especially commercial real estate, is sky high around here, so there aren't many legitimate shops hanging around. There are a couple, but I see these dealers at the local shows, so I don't bother stopping in to the shop. There is one local dealer that doesn't do the shows (He does Baystate, which I avoid), but he likes to deal in bullion type items, and his "real" coins are so overpriced, it's not worth stopping in. He buys at levels below bluesheet, and sells at levels that aren't on any published price guides.

mgoodm3 · October 19, 2003 12:47PM

South Central OR isn't too hot either. There's a decent shop in Medford that I go to occasionally. Mostly I go online.

Coinosaurus · October 19, 2003 1:35PM

I gave up on the local coin market a long time ago. It's hard enough to find stuff at the big shows and auctions! But it all depends on what you collect. If you are going after circulated 20th century coins I would think nearly any local market would have a lot to offer.

roadrunner · October 19, 2003 1:54PM

My local market is fairly active with half a dozen dealers within a 30 mile radius of me but I really only deal with the 2 who consisently locate the nicest coins. Decent coins, both raw and slabbed routinely come through. I am lucky to often have first shot on the nicer type material as few others understand the higher grades or wish to pay the $$ money it takes to buy them. The last few months have been on the dry side but you never know when something good will hit.

roadrunner

Newmismatist · October 19, 2003 1:56PM

<< Louisiana is a numismatic wasteland.

GSAGUY >>

I think Bowers and Merena has just moved there - Any change yet?

beartracks42 · October 19, 2003 2:03PM

Here in SE Ohio, it is pretty dead. No coin shop inside of 75 miles. There are a couple of dealers in our coin club who occasionally bring some decent stuff to mettings. That's about it.

kieferscoins · October 19, 2003 2:05PM

Here in Visalia, CA it is pretty good. One major shop downtown and a smaller one inside an antique mall. Local coin club with 30 plus members and 2 local shows a year. Long Beach, and Santa Clara are also within a 3 hours drive. I am lucky.

Cameron Kiefer

AmericanSilverEagleCoins · October 19, 2003 2:30PM

Hey 291fifth! Where in Detroit area are you? What shops do you go? I am in the West Bloomfield MI area.

techeff · October 19, 2003 3:06PM

>>No such thing in my neck of the woods (east coast of central Florida).

Numonebuyer<<

Sounds like where I grew up... Mel-boring (I mean Melbourne, FL). I'm now in Newport Beach, CA, but I'm too new to know the local (or any) market. Although, I bet it's real good if you have the keys to David Hall's place?!

Coppernicus · October 19, 2003 5:32PM

Milwaukee - Two very good shops and many more bad joints. Limited inventory, but the two good ones will get you what you want. Prices....within CDN spreads, give or take a bit.

Mike

canadiancoinguy · October 19, 2003 7:17PM

Okay. Several shops, flea market guys as well. Variety of stuff from common junk box material to higher end MS key dates. Strict grading with fair prices to heavy overgrading/overpricing and everything in-between.

wingedliberty · October 19, 2003 8:23PM

I am in the Tampa Bay Area. This is a very robust numismatic area. There is a show at least every other month. There are about 6 good shows/yr. About a dozen or so coin shops. I would say that 2/3 of the dealers are crooks and rip off the public on a daily basis. Florida is a very transient area. Alot of people have second homes here and travel back and forth. There is also a large elderly population that come here to retire and these dealers take advantage of them.
Several good dealers are close friends, but struggle to compete because of the influence of the scumbags. Overall its very robust and there are also alot of vest pocket dealers who have day jobs but play with coins at shows and/or through coin clubs.
Overall, my numismatic spending is allocated evenly among shows/dealers/Ebay, etc. The honest folks stay vigilent to keep the crooks at bay, but its exceedingly difficult.
This state is the home of ACG and NTC and there is a proliferation of NTC material in particular. This material is a stumbling block to retaining new collectors particularly when they try to upgrade and/or trade material with honest dealers who can only pay a fraction of PCGS/NGC/ANACS for ACG/PCI/SEGS/NTC ,etc.
Overall its very active here and there is always an influx of new material. Having dealer connections who are friends is great as I get a chance to always have first crack at it. Some of the dealers are old and have poor eye site, and I help them prescreen for PCGS/NGC/ANACS. They reward me with first crack at good coins.

jbsteven · October 19, 2003 9:28PM

Houston has 4 million people and 3 coin shops. 1 high end shop, 1 middle of the road shop and 1 low end shop.
Not much to choose from.

CoinHusker · October 19, 2003 11:07PM

After reading the responses and seeing most respondents don't have a decent shop in their locale it kind of explains why on-line auctions are a happenin' place.

RiffRaff1967 · October 19, 2003 11:37PM

<< Hey 291fifth! Where in Detroit area are you? What shops do you go? >>

Yeah yeah - what he said....

I have only been to one in Redford, they treated be very nice (newbie), and I was excited to be around many coins. I have since gone maybe 4 or 5 times, and I have noticed that there is very little turn around on the coins they have. It gets boring when you see the same coins everytime you go.

1957joe · October 19, 2003 11:51PM

Things in the Northern Ky./ Cincinnati area are ok. The only really good dealer died a few years ago. I would like to see a few more shows though!

291fifth · October 20, 2003 12:16AM

<< 

<< Hey 291fifth! Where in Detroit area are you? What shops do you go? >>

Yeah yeah - what he said....

I have only been to one in Redford, they treated be very nice (newbie), and I was excited to be around many coins. I have since gone maybe 4 or 5 times, and I have noticed that there is very little turn around on the coins they have. It gets boring when you see the same coins everytime you go. >>

Abbott's in Birmingham is probably the best shop in the area. It is on Woodward between 14 & 15 Mile Road. The shop you mentioned in Redford has a weak coin stock (in my opinion) as it is more a jewelry store. Unless you collect Morgan dollars you are likely to have trouble finding much to buy in the way of correctly graded, problem-free coins in major brand slabs.

SMS · October 20, 2003 12:47AM

<< A county with a 150,000 should have at least one coin shop? should it not? >>

Well, that's about 1/4 of my whole STATE's population, so we should have at least 4 here in Wyoming? Right?

RiffRaff1967 · October 20, 2003 12:49AM

<< Abbott's in Birmingham is probably the best shop in the area. >>

Thanks! - I wll check them out.

LanLord · October 20, 2003 1:03AM

Wow, I am amazed at these responses. I thought I had it bad, but in reading this, looks like I am in one of the hot spots.

In Northern Cal. there are about half dozen within about a 30 minute drive.

Several more within about an hour.

Most are good in their own way, I will go to one or the other depending upon what I am looking for.

One may have a wider selection, but not willing to negotiate, others are great with price, but may not have a wide selection or their

selection is very specialized (great ancients for example).

jdimmick · October 20, 2003 9:10AM

DHEATH basically said it all, same as 90 miles south. Collectors abound, but only two low end shops and a few flea marrket vendors. Lots of raw common date coins, and segs, Ntc slabs. Very few key-dates come in, and when they do, they are lower grades.

Down here if you had a 1909-s VDb in AU, you'd be something.

jim

razorface1027 · October 20, 2003 9:16AM

Louisiana is a numismatic wasteland.

GSAGUY

One should try Southern New Jersey for coins. Talk about WASTELAND! It's PATHETIC around this area.........THIEVES.....

coinlieutenant · October 20, 2003 9:23AM

Pretty good here. I have four shops within 10 minutes. I am on good terms with all of the dealers and we treat each other well...

Some are higher than the others but it is a good place to buy alot of the time.

John

khayse · October 20, 2003 9:44AM

> Hey 291fifth! Where in Detroit area are you? What shops do you go? I am in the West Bloomfield MI area

Wow, lot of Detroiters here. We should meet at the Hyatt show after Thanksgiving.

I've been to Abbott's a couple times (I work in Southfield). The people seemed nice.

I've only seen the Redford guy at coin shows. Never been to his shop. Think I bought one
of my Walkers from him.

The only other shop I've been to around here is a little shop in Dearborn off Michigan Ave.
(next to Dearborn music). Pretty small, didn't have much I was looking for (high grade Walkers).

Any others that Detroiters have been to?

-KHayse

mdwoods · October 20, 2003 9:51AM

I've never been to Abbott's. I'll have to take a drive down there. About 1/2 hour south of me.

Lakesammman · October 20, 2003 10:15AM

Not much happening in the Seattle area. There is one dealer that sells nice stuff but it's not my area of interest. Shows are stale.

DaveG · October 20, 2003 11:07AM

Gee, compared to most, I must live in coin heaven in northern New Jersey. We have lots of local coin shops, but I never go to them because I go to two coin shows a month (Parsippany is 80 dealers and Clifton is about 25), plus, White Plains (four times a year) has 100-160 dealers, plus, I can take a day trip to Baltimore twice a year.

As far as activity goes, both the Parsippany and Clifton shows are busy - it has been hard to get down the aisles at Parsippany for at least the last year.

That having been said, as always, common coins are common and uncommon coins are hard to find - just try finding some Walkers and Mercuries from the '20s in VF and XF, or Barbers in F or VF, or VF - AU Seated dollars or halves, just to name a few.

JoyofCollecting · October 20, 2003 11:26AM

DFW:

Shows are pretty good.

Retail shops are pretty poor.

nolimitz · October 20, 2003 11:48AM

Boise area.... Huh! couple shops. high priced, stale inventory. Show(s) combined with antiques/junk, maybe a handful of coins.
Basic waste land that I know of.

marcmoish · October 20, 2003 12:00PM

you'd think with millions of people Brooklyn NY would have a decent coin shop - umm a coin shop period

Maybe Stack's in the city but who wants to go there to have someone sniff if you've got over 50K to spend

. Like Dave said Parsippany although a 1 hour drive is a super show and of course White Plains also at least 1 hour up North....choices choices, I guess I gotta be grateful I don't live in Wyoming.

Marc

What is your LOCAL coin market like?

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