A small dilemma about where to purchase coins from.

Was wondering how many people are willing to pay more money on a coin from a coin store rather than an online auction? Recently checking through places like ebay, Heritage and Teletrade I am seeing lower prices.
I mean, I understand that a store has to pay rent and bills so they need to charge a bit more. Also is it logical to think that a b&m store can match the prices from an online auction?

I'm still going to buy from the b&m store I go to as I want to support them. But at what point does a buyer start thinking that they can save quite a bit of money from buying expensive coins online only?

 

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Dont most B&M stores have an ebay store too? They should be willing to sell coins for less than ebay prices. Since ebay and paypal take a 12% cut and theyre not selling coins at a loss doing that. They should be able to sell coins for 12% less than theyre going for on ebay.

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I always look for the best price, but depending on what you collect the dealer might still be the best option. I know for large cents there are a handful of dealers who charge full price, but also have the nicest coins. Yes you can find other coins which grade the same for a little less, but the quality is just not the same.

 

I do all three, the 'bay, other online auctions, and LCS. I won't buy any coin with mid to high numismatic value raw off the 'bay. did that 4-5 times and sent all of them back. it's slabs only unless I can see and hold it so that's the LCS for me or coin show/private buy.

 

Something else to remember about researching prices on Teletrade and Heritage is that the buyers fees may or may not be included, as well as shipping and sales tax(where applicable). These things can really drive the price up, and most people who bid on these sites factor them into their bid.

 

On heritage yes, but even though Teletrade says they are included, they are not. I have looked at past auction results on Teletrade where the coin was one that I won, and the premium was not included.

 

Most? No. Many, yes. Each that does not has its own reasons, but for many ebay can be a hassle and sometimes it is easier for a B&M to sell off coins they have no market for or desire to deal with to vest pocket, online sellers, other dealers, etc. Many B&Ms spend a good portion of their time dealing with metals today, so average coins often take a backseat while truly exceptional stuff sells itself.

As for the OP's question, it all depends on what you buy. With coins that are readily available in most any shop and online, price should be a major consideration. Shop dealers are not stupid. Most know very well what online prices are, but use their advantages in their favor. A big one being that a buyer can hold the coin in hand and walk away with it that day. With rare or seldom seen issues you cannot limit yourself to any one source, and often must go with where the coin is available.

 

I fully expect to pay LESS at a physical store than on ebay. There is a smaller number of people available to buy the particular coin, and I don't have to compete with millions of strangers. Plus, you can often haggle or barter a better price, in a face-to-face situation.

 

On the bidding page for teletrade, it shows current bid, what the next bid would be and then under that it show the buyers premium of 15% or $8 min

 

I assumed this as well. Maybe it only shows the bid without the premium because it was a lot that I won. I just looked up auction #2796 lot 2450 and it shows my bid without buyers premium for me $110. I wonder if you looked it up if it would be different

 

Don't underestimate the value of seeing a coin in hand before buying it. That's an important advantage over the auction houses. Use the auction house's history of prices realized to determine what you will offer at the B&M.

 

There is no lot 2450 in auction #2796. The highest lot # is in the 2300's.

 

This is advice worth considering. I feel better looking at and examining a high dollar coin before making a purchase. Plus, establishing a quality relationship with a dealer is something not easily done without meeting them face top face in my opinion.

 

I'm sorry dyslexia moment #2976

 

The coins I'm talking about are either key or semi-key date coins and graded. I would still like to look at the coin before purchasing regardless of the grade given.

The thing is even though the stores have an ebay account the prices in store are always a bit higher. I do get good deals from the owner but of course its not as cheap as ebay or other auction sites. And of course I'm always wary that an ebay seller could be passing off a fake slab.

 

Ahh, there it is. It shows a realized price of $110.00. Nothing about a BP.
That's different than when you're looking at a specific coin in a current or upcoming auction, it shows you recent sales of like coins and those do include the BP.