Well, I'm not going to be a new father..... but I did talk to a guy today who said that he was going to open up a new coin shop here in Charleston, WV this September. Now I will have two coin shops in town to choose from! I cannot wait. Talk about choices! Sort of like having a new kid.... you get to see it grow, in the mean time constantly throwing money at it hoping that you get something back in return that makes you proud! :whistle:
Cool, Get to know the guy. DON'T pull the old "well I can get it at the other shop for so and so". If the guy realizes your a serious collector and you;'re one of his first "regulars" it could work out very well for you. clembo
I think Im probably one of the earliest people to know. He used to have a shop many years ago and decided to shut it down. Many local collectors have been clamoring for his return including myself. Although, I am sure this guy will have a variety of coins to choose from, his specialty is slabbed, high end coins. I will keep everyone posted when he opens - I might be able to find some harder to find coins for some members. And Clembo, as far as going back and forth, I don't really have to worry about that...... I have already wiped out the other shop of everything I need, so a new shop will be a fresh welcome.
People still walk in the door to sell stuff Joe. Rembember that. Right place and right time. I've been watching at work and even before I worked there. We buy stuff ALL day and if the right customer walks in just after purchase the deals can be much better to start turning inventory. The new (old) guy may deal mainly in slabs but if he has any business sense he'll be buying too. Same with the other guy. Buy it and turn it quick wnen possible. clembo
How does a person go about starting a coin shop from scratch? Is it a matter of judging what the local market wants and going to coin shows to obtain a starting inventory? I know about leasing and displays, but it would seem to be a huge task to establish a well-stocked coin shop. Don't worry, I don't plan to open a shop. I'm uniquely unqualified.
good questions Cloud, I think you do a lot of Lot purchases, and estate sales. So you can have a nice inventory when you open. Sounds like a nice opportunity Joe, Don't waste it. I say apply for a job! part time maybe!
