The one honest dealer packed up, sold his silver to a major dealer (kept the gold) and retired. He would always "jiggle" his prices if you were a return customer or knew what you were talking about. I even looked at coins that I purchased elsewhere for him to evaluate...just a wealth of knowledge was lost due to "stingy" buyers. Everyone wants something for nothing. I had my eye on an Isabella Quarter (MS60) for months...went by one day and he was gone, like the turkey through the corn. Ran into him in a local jewlery shop and got the scoop. Like Doctors, we are loosing experienced numismatist...who is going to fill the void...scoundrles?
I live near Philadelphia, and we have a number of brick and mortor shops around. I find most of them to be buyers of junk silver and gold. The few (one I can think of off-hand) that have good inventories are mail order mostly - and have little on display.
My days of going to local coin shops are over. I think their day has passed in the information age.
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
My local guy is largely a bullion merchant and 90% of his customer base is numismatically clueless. There has been an interesting development over the last six months or so, however. He keeps having PCGS and NGC slabs walk in the door. He pays back of bid for everything (at least he's consistent) so a lot of these coins come in cheap. I went in last month and he had over 100 common date Morgans slabbed by NGC as MS63. One guy sold them to him and I know the guy took a bath because this dealer doesn't keep heaps of cash (or inventory) on hand. He sold me six of the 100 (my choice) for $100. Not bad. I'm sure he did this because I'm one of the few people in town that actually buys coins from him.
It seems like everyone else comes in to sell silver and gold which he just wholesales.
<< <i>My local guy is largely a bullion merchant and 90% of his customer base is numismatically clueless. There has been an interesting development over the last six months or so, however. He keeps having PCGS and NGC slabs walk in the door. He pays back of bid for everything (at least he's consistent) so a lot of these coins come in cheap. I went in last month and he had over 100 common date Morgans slabbed by NGC as MS63. One guy sold them to him and I know the guy took a bath because this dealer doesn't keep heaps of cash (or inventory) on hand. He sold me six of the 100 (my choice) for $100. Not bad. I'm sure he did this because I'm one of the few people in town that actually buys coins from him.
It seems like everyone else comes in to sell silver and gold which he just wholesales. >>
Holy cow! At that price, i would have bought them all... Sight unseen. If he has the other 94, PM me
I frequent 2 shops in my area. I buy / sell bullion at one. The only coins I've bought were from picking through the "junk" boxes (occasionally find something) and also I've bought some proof items. There have been a couple of ASE proofs whose price rise is faster than the grey sheet he refers to.
Mostly I use the shops for a learning experience and to be able to see more coins. Most of the guys are helpful.
<< <i>Of course. In Chicago there are many places to go - potentially nice coins are potentially everywhere - you just gotta keep your eyes open. >>
There's just nothing in the NW suburbs. Superior actually has a contact person in Barrington, but it's probably only a convenient location for ripping wealthy widows and heirs.
Yep, and depending upon what I am looking for I will choose which one I go to.
In the SF Bay area there are at least 5 or 6 that I can think of off the top of my pointed little head. Some sell junk, but sometimes I just need a cheap fix, others sell pretty nice stuff and I hold out for days when my pockets are bulging to go see them.
There are three coin shops here in Albuquerque, but only one that is worth seeing. I purchase from him on a fairly regular basis, and I've sold to him as well over the years. I'd much rather shop at his place, or at our two local coin shows each year because I can see the coins without the "benefit" of having been photoshopped on eBilge.
Next year I will begin to travel to more shows for the sole purpose of buying coins I can hold in hand rather than looking at pics on the 'net.
I try not to go there often, because when I do, 2 hours have gone by and I haven't even realized it. And I don't spend much money there either.
I get the feeling I might be driving him crazy, but he's still nice to me. What more could you ask for in a dealer?
Has a decent mix of slabbed coins and raw coins. And I always feel that obsessive compulsive gene kick in when I walk in the door. He's got more stuff piled up on shelves than I can even take in at more than a glance. Lemme organize that for ya, ok??
I think he collects EVERYTHING for his own collection too.
I have a couple - these are dealer collegues I have met at shows who occasionally wholesale to me. Perhaps they are blowing out a deal or trying to raise cash for some other project. One called me the other week "I have a bunch of slabbed 69 proof US Platinum I will sell you at BV + 5%" - I went and picked out a couple.
There are two shops here in San Antonio that I go to; Lone Star Coins, and Royalty Coins. I've recently been able to pick up a few nice raw Capped Bust Halves from both.
I took my daughter to Bob Patchin's Coin Gallery on Saturday and got her some coins for her Whitman 20th Century Type Set folder. It's only a few miles from our house. If it weren't for that store I'd have to drive 40 miles. There's another store right by Bob Patchin's run by Joel Rettew, Jr., but I've chosen not to go back there.
Brick and mortar stores are the best way to pick up $100 and less coins that online dealers don't think worth stocking.
I have a local coin dealer here in town who knows me well, he sometimes gives me a discount, his stock is pretty nice, we will talk coins or whatever is on our minds at the time, a real nice guy been in biz for 40 yrs
I have two. One deals in more high end coins. One has lots of low end coins. Both have been very helpful and honest with me. Of course I get the point across right away that I'm a straight shooter and if they are too, we'll get along fine. Of course I don't say it in so many words. Some customers might be offended by the truth. I let them know I expect it.
One of my local dealers gets quite a few neat coins in. The problem is being able to have a shot at them. There are so many other potential buyers/dealers who are aware of what he gets in, it often is like a feeding frenzy. Over the past 1-2 years he now keeps most of the better coins aside. It's much harder to buy things but opportunities exist every few visits. The other B&M shops in my 50 mile area I never visit as they get just about nothing in. Visiting them is nearly a total waste of time.
Comments
"Keep your malarkey filter in good operating order" -Walter Breen
My days of going to local coin shops are over. I think their day has passed in the information age.
It seems like everyone else comes in to sell silver and gold which he just wholesales.
<< <i>My local guy is largely a bullion merchant and 90% of his customer base is numismatically clueless. There has been an interesting development over the last six months or so, however. He keeps having PCGS and NGC slabs walk in the door. He pays back of bid for everything (at least he's consistent) so a lot of these coins come in cheap. I went in last month and he had over 100 common date Morgans slabbed by NGC as MS63. One guy sold them to him and I know the guy took a bath because this dealer doesn't keep heaps of cash (or inventory) on hand. He sold me six of the 100 (my choice) for $100. Not bad. I'm sure he did this because I'm one of the few people in town that actually buys coins from him.
It seems like everyone else comes in to sell silver and gold which he just wholesales. >>
Holy cow! At that price, i would have bought them all... Sight unseen. If he has the other 94, PM me
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Mostly I use the shops for a learning experience and to be able to see more coins. Most of the guys are helpful.
<< <i>Of course. In Chicago there are many places to go - potentially nice coins are potentially everywhere - you just gotta keep your eyes open.
There's just nothing in the NW suburbs. Superior actually has a contact person in Barrington, but it's probably only a convenient location for ripping wealthy widows and heirs.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
In the SF Bay area there are at least 5 or 6 that I can think of off the top of my pointed little head. Some sell junk, but sometimes I just need a
cheap fix, others sell pretty nice stuff and I hold out for days when my pockets are bulging to go see them.
There are also some that are fun just to avoid.
<< <i>
<< <i>I would have to span over 150 mile radius to even reach a dozen coin shops! >>
Marty frequently spans a much larger radius than that. The stuff he finds doesn't just fall in his lap. He works his ass off. Russ, NCNE >>
Yeah, but marty ain't human either.
Next year I will begin to travel to more shows for the sole purpose of buying coins I can hold in hand rather than looking at pics on the 'net.
My OmniCoin Collection
My BankNoteBank Collection
Tom, formerly in Albuquerque, NM.
I try not to go there often, because when I do, 2 hours have gone by and I haven't even realized it. And I don't spend much money there either.
I get the feeling I might be driving him crazy, but he's still nice to me. What more could you ask for in a dealer?
Has a decent mix of slabbed coins and raw coins. And I always feel that obsessive compulsive gene kick in when I walk in the door. He's got more stuff piled up on shelves than I can even take in at more than a glance. Lemme organize that for ya, ok??
I think he collects EVERYTHING for his own collection too.
Steve
Brick and mortar stores are the best way to pick up $100 and less coins that online dealers don't think worth stocking.
Obscurum per obscurius
Search the melt buckets for toners that are not worth thier time and effort to even try to sell for more
sell on the bay for a tidy profit
Jim
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
https://photos.app.goo.gl/3dmaZrJx15TbvKPc7
https://photos.app.goo.gl/ncjfMXoPabRGoNk27
Cheers,
Jerry
roadrunner