Odd coin shop experience...

So I went to a shop yesterday, not three miles from my house...

The place was a mess - merchandise strewn everywhere in no particular order, owner was reading riot act to somebody on the phone because his website wasn't working and he was losing customers.

When he finally gets to me, I tell him I'd like to see anything he's got by way of Kennedy Half Dollars. This was the gist of the conversation...


"Well, most of that stuff is in a bank vault. I've got a few bags of forty-percenters but you don't want to see that. Not much silver there."

"Actually I do want to see it. I'm putting together a date/mm set, and I'm not interested in the silver content, but rather in nice pieces."

"Well that's all junk silver anyway. That's mostly what I do. Nobody collects seriously anymore."

"What about mint sets?"

"Yeah, they're over there, but I don't carry much. If you just want the Half Dollars you're gonna be overpaying."


So I gave up on that and asked him if he had any silver bars - my wife likes bullion and I thought I'd throw a bar or two in her Christmas stocking. After rummaging around in the mess for a bit, he actually came up with something I liked. But when I pulled out my bank card, he said he didn't cards at all. Only cash.

I just left in frustration. I don't think his website had anything to do with losing customers.

 

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It isn't only at B&M's that you might find dealers like this. They also attend shows! Hopefully, not too many, though.

Chris

 

I understand your frustration, but I also understand the dealer, too.

It appears he was attempting to be honest with you about the potential to overpay if you were buying mint sets specifically for the half dollars as well as possibly trying to steer you away from 40% half dollars as a bullion purchase. The comment about not taking cards is common and quite understandable, especially on bullion. His card company will whack him for about 2% or so of the transaction on a card and profits on bullion can be mighty slim. Therefore, that 2% whack may take quite a bit out of his profit. Also, there are many fake or stolen cards and he may have firsthand knowledge of losing out on a fraudulent transaction while paper money likely does not pose the same risk for his business.

 

I understand all of that Tom. I was only temporarily frustrated. I'll be back anyway, with cash, if there's anything I think he can offer me. It's not like there's a brick and mortar coin ship on every block, and I like to support the few around town, when I can.

 

My favorite B&M shop is nearly identical.

I love surly old dealers. They will tell you the truth, how the market works, what is a good deal and what isn't, etc. Best sellers in the world once they get to know you and you prove to them you aren't some flighty, "oh the paper said I should buy some silver but I don't want to actually want to learn anything" kind of guy.

Mark my words, spend time there, follow his rules as he lets you know, ask knowledgable questions, and I am betting you a nickel this will be your favorite shop. I have never been to a nice, clean, well lit and pleasant staff shop where I could get any good advice or deals. All the best shops seems to be organized messes but truly knowledgable dealers.

I apologize to any neat and tidy dealers here. Maybe you are great and run a tidy shop, I just have never been into one.

 

Ha! We must have went to the same shop.....Just quit stamps and got into coins......and you wonder why shops are closing everywhere. The shop I stopped going to, for four years now has hand sanitizer for you to use. And after stepping over pile after pile I seen them. Mouse droppings---well like you I left, and think online buying/shopping is for me. good luck

 

You make valid points, Tom.

When I was reading the OP's account, all I could envision was this old hag at a fleamarket near where I live and the nasty attitude she displayed when an elderly couple asked if she had a folder for the new Jefferson quarters. She snapped at them that they don't make a Jefferson quarter and turned away to "push around the pile of stuff" behind the counter.

This was 2-3 years before the Prez dollars were introduced, so I knew exactly what the elderly couple meant. I began explaining to them that they were the newly-designed Jefferson nickels, and they could find the Whitman folders for nickels online. At this point the old hag, with her back still to the three of us, said, "That's just great! I pay rent on this place and he's trying to send my business away."

I should mention that before the elderly couple had approached the counter, I had already asked the old hag to show me some of the Morgans in her case, but she took her good old time messing with tha pile of stuff behind the counter. Anyway, I turned and walked away and while I was still within earshot, I heard her say, "Hey, where did he go?" I never even looked back!

Chris

 

Agree with all of that. The one I go to in my area is a complete mess, but the guy doesn't beat around the bush and he is honest woth what he has and I am always happy when I leave.

 

While I 100% agree that his attitude was more than unprofessional, the local coin shop I normally go to deals only in cash. You will usually receive a check if you are selling anything over $100-$200.

 

The worst part about this is that you probably had to drive on Centerville Road to get there. (I think that from your location and the description, we live pretty close to each other!)

 

Just a quick tidbit of information, in person transactions have always been covered by the credit card company in an effort to maintain confidence in the credit card system. If someone comes into a store with a card that doesn't belong to them, or if they manage to create a bogus card that is accepted by the credit card processor, the merchant will still receive all of the money from the fraudulent transaction.

Accepting credit cards presents less risk to merchants than accepting cash because with cash there is a chance that it is counterfeit, in which case the merchant would lose any counterfeit money he accepted. Of course there are fees associated with credit card transactions, and that's the main reason some merchants choose not to accept them.

 

I get it, but I'm really sick of dealers like that. If hes not going to seriously try to help a potential customer out, or take the time to pull out some of those halves, then he needs to change the name to "bullion only" or something rather than the "coin store" it probably says right now. I've been turned down many times in the same fashion..and I don't take the time to go back. If its too much trouble for them then its too much trouble for me to spend money there.

 

Haha! The drive wasn't bad. And there was another shop just a mile away that had drawer-fulls of neatly organized Kennedys for my perusal, so all's well that ends well.

 

Not all coin shops are really coin shops any more. Many have focused on bullion at the expense of us collectors. Not much to do, I think, except try and find a dealer that better meets your expectations as a collector.

 

I think you guys must be walking distance away from where my wife and I lived back in the mid-90s! About a quarter-mile west of Armstrong. I wasn't collecting actively at the time, though, so never visited any local shops...

 

Go through Stoltzfus's cornfield, take a left at the old Mennonite meeting house, and keep going till you get to McDonald's. Try not to get hit by a horse-and-buggy.

 

I love old shops and crusty dealers. They just make the hunt for something cool a bit more fun.

 

We are definitely talking about the same place. The father runs that location, and the son runs another in York. The son is actually a nice guy - I've met him at shows. I think the York location would be better.

Although it's probably better to just save up for one of the Whitman shows in Baltimore.

 

It's fine though - I think I caught him on a bad day. He's basically a bullion dealer, so I went back and bought some bullion. As far as collectibles go, he had some high-end stuff like slabbed early dollars and such, and it was enjoyable to window shop those. It's just not the place to go for my Kennedy collection, that's all. He's not the guy who sits around cutting individual coins out of mint sets.

 

Good to hear you have another shop around you. Its always nice to have options when shopping around, especially locally.