Come on people! I'm tired of those trashing those that a dealer makes a pricing mistake and someone purchases a coin and they get ripped here. But OH THE POOR PROFESSIONAL DEALER that can't say I don't have the clientele for the high grade coins so I'm not interested. IT'S ALL THE SAME, SOMEONE IS TRYING TO MAKE A BIG PROFIT AND MOST SEEM TO THINK IT'S OKAY FOR A DEALER TO RIP OFF THE PUBLIC. Get real, end of rant!
Most Brick and Mortar shops I frequent do not own their own buildings and have to clear $1500/day in expenses. The quick flip of a slabbed coin is nice but infrequent. Most income is from labor-intensive, bullion-related, common modern Franklin Mint, "wheaties" and bulk lots. They spend time emptying coin boards and cutting common date coins from 2x2s. They hate seeing it come through the door but realize it is their bread and butter.
I don't see them retiring to the islands anytime soon.
The B&M shop I frequent only took over the business less than 10 yrs ago and has basically become owner of his part of the building. He made a lot on that building (on paper) and his been offered some obscene money to sell out. With precious metals coming and going constantly the past few years he has done very well. And things will only accelerate from here. If a B&M shop is not taking advantage of the metals markets (I know several that don't), it's their own fault.
As far as the 1914/3 nickel goes it is a thinly traded variety with a population yet to be fully known. Even the variety that PCGS attributes has little more than a tiny bump for the top of the 3. I was involved with a transaction for a PCGS MS63 last year that sold for $6000. Coin was very pretty too and higher end. It later sold to a top retailer and was offered and sold on their site for $8000. I was quite surprised on the price if finally sold for.
Looks like we briefly returned to the old Open Forum days.
Comments
Realone you have no idea what the overhead is.
Steve
Overhead????
Time for comic relief: watch this video and see what the reporter discovered about "overhead": watch this
<< <i>I think the OP's biggest mistake is that he's going to buy his teenage son a truck. >>
My thoughts exactly!
I don't see them retiring to the islands anytime soon.
Garrow
Edit to add: You're welcome, Steve.
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this has to be a typo. 1500/day in expenses in not the norm for
a business that normally has one employee and a shoe box sized
rental area.
Garrow
He made a lot on that building (on paper) and his been offered some obscene money to sell out. With precious metals coming and going constantly the past few years he has done very well. And things will only accelerate from here. If a B&M shop is not taking advantage of the metals markets (I know several that don't), it's their own fault.
As far as the 1914/3 nickel goes it is a thinly traded variety with a population yet to be fully known. Even the variety that PCGS attributes has little more than a tiny bump for the top of the 3. I was involved with a transaction for a PCGS MS63 last year that sold for $6000. Coin was very pretty too and higher end. It later sold to a top retailer and was offered and sold on their site for $8000. I was quite surprised on the price if finally sold for.
Looks like we briefly returned to the old Open Forum days.
roadrunner
<< <i>Four to six employees in a suburban area can be an expensive venue for doing business.
Garrow >>
wow. i have never been into a single coin store where i saw more then
two employees. that kind of store must be quite exceptional.
After all, a "GREAT' dealer is usually one very well educated, well connected gentleman with a computer, safe deposit box and long client list.
All the clerks behind the counter do not equal the quality of someone who fits the above description.
Proud recipient of two "You Suck" awards
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