What was the worst time you have had in a coin shop

How about examples of the other end of the spectrum from Speedy's thread?

Mine was the day a couple of years ago that I walked into a large shop about 1.5 miles from home. It had just moved into a place about twice the size of its old location - I think with a new owner.

After looking around and seeing no world coins on display, either on its huge bid board or in its showcases, I asked one of the employees whether they had any Japanese gold or silver.

I haven't been back, since he told me "We don't handle that kind of junk."

 

Log in or Sign up to hide this ad.

Drove about 20 miles to a local coin shop. Went in and ......almost nothing to look at......"Sorry, Everythings packed up to go to the show in Pittsburgh."

 

I talked to one of the guys at a big coin shop in ohio about some coins.

He told me that they didnt catalog everything i such a manner that he could just name them off if I asked if they had something, that hed have to go thru the trays one at a time to see and he didnt have the time for that.

I told him I lived 2 hours away and I could drive up and ''shop''.
He said to come on in and I could tell them what years I was looking for and that they could pull those trays and I could go thru them (since no one could tell me what exactly was in stock and no one was willing to do the searching for me.....go figure...I have no clue how anyone is supposed to know what they have ''for sale" )

So anyway, I drive the 2 hours and when i arrive I explain the situation to another guy (the one i had talked to had left for the day).
He refuses to do what the first guy had said and tells me I need to tell him what coins I am looking for and he will pick them out.

now, Im NEW to this game ........hello, myfly......I have NO CLUE what Im looking for and I explained this in detail to the first gent.

All I know is I would like to start with the 1600-1700s. I havent any idea what I actaully want to ''collect'' at this point.

Hes very insistant and I ask him ''if you dont have a LIST of what is ''for sale'' and I cant SEE what is for sale, and you dont have time to LOOK for more than just a couple items (that was explianed to me by the first guy, they wont sit and wait for you for more than a few mins ) then exactly HOW am I supposed to buy ANYTHING from you.

I guess the trick is that Im supposed to make a ''list'' and submit it, then wait for as long as it takes for them to get those coins, driving 2 hours each way each time to pick up whatever they end up getting in.
completely nuts.

So anyway, the guy says ''well, we're having a sale and there are some coins listed in the flyer"
So I ended up only getting a handful of coins that were on this flyer.
I liked them and all, but I got to see about 1% of what the store actually had in stock (not entire stock, just the years I wanted) because of their methods.

Needless to say Im not bothering with them again.
If they cant let one ''shop'' then they damned well need to have a complete list of what is 'for sale''.

 

"I haven't been back, since he told me "We don't handle that kind of junk."


yeah, I moved to a bad rerun of the twilight zone in sept.
There are like 5 small cities here, making the urban area here very large, but only a couple coin ''shops''.

I called around....not one stocks any gold or silver at all.
Not even a couple Eagles for crying out loud.
And what kills me is these are coin shops that deal only in like US coins.

The guy said if I wanted even a 10th ounce gold or platinum eagle that hed have to special order it.

The platinum I can see, but even the smallest coin shops Ive been to, even the ones at the flea market i used to frequent kept a few $5 gold eagles on hand.

 

For me, my best shop experience turned into my worst. A few years back, I was collecting high grade MS Ikes. I asked the store-keep if they had any IKEs, and he pulled a dusty PVC pocket coin binder from a shelf. The binder contained virtually every date IKE, many in MS condition. I began my cherry-picking and pulled several MS 65 and up Ikes. (Mind you these were not the "s" mint marks, and I couldn't believe the prices!!) Each 2x2 coin holders simply stated BU and were priced between $10-$20. I was picking up $60-$150 Ikes for $10-$20!! Well, the next time I stopped back to get a few more dates, the store-keep was on to me. All the MS Ikes were out of the PVC binder and slabbed in air-tite holders. They were fetching premiums well over Fair Value and I realized I lost my find!

 

That doesn't sound like the Twilight Zone, it sounds like Monty Python's "Cheese Shop Sketch."

excerpt:
C: Aah, how about Cheddar?
O: Well, we don't get much call for it around here, sir.
C: Not much ca--It's the single most popular cheese in the world!
O: Not 'round here, sir.
C: <slight pause> and what IS the most popular cheese 'round hyah?
O: 'Illchester, sir.
C: IS it.
O: Oh, yes, it's staggeringly popular in this manusquire.
C: Is it.
O: It's our number one best seller, sir!
C: I see. Uuh...'Illchester, eh?
O: Right, sir.
C: All right. Okay.
'Have you got any?' he asked, expecting the answer 'no'.
O: I'll have a look, sir...
nnnnnnnnnnnnnnnno.
C: It's not much of a cheese shop, is it?
O: Finest in the district!

 

I've never seen a coin shop, so no bad experiences.

 

My local coin shop is usually closed - I think he runs some sort of antique business on the side, because he's always got a bunch of odds and ends laying around his store, which projects the image of clutter. I haven't any real 'bad' experiences, so I guess the worst is the countless times I have driven there to find his shop closed during his posted business hours.

He's a nice guy, and we talk a lot, so I keep telling him he has to just adjust his hours, because people are bound to get upset if his store is closed when it says it's supposed to be open.

He only really deals in gold bullion, high dollar stuff, and key date US. You don't see much inventory, but what's there keeps him in business. When he buys collections, he sends off all the normal stuff to an auction house up north, and then keeps whatever pieces made him purchase the lot. In any event, he doesn't usually stock much inventory that I collect.

 

Oh thats one of my favorite monty python skits well anywhays. My local coin shop is excellent never seen one that is better he is stocked up on everything and is very nice. Although there is a second one that is more of a jewelery shop with like 2 coins and their in a wacth or something. I just dont see the point of calling it a coin shop if it isnt.

 

This wan't at a coin shop but at a show...
I looked through this box of mint and proof sets and picked out about 10 that I needed...he told me what they were listed for bid in the grat sheet and so I picked out about 5-6 and bought them...as I was putting my change in my pocket he said.."go back through that box and put them back in order to date"...now to me that was not right...its at a table where anyone could look through them and after all I did buy a nice little piece...over $20...I would think the dealer should have done that...

Am I wrong?--or was it just because I was younger that he thought I should put them back in order.?

Speedy

 

Let me set the stage. I was in the middle of my travels and I happened to stop into one of the local coin shops. Some people take a lunch, I like to browse around and see if any coins suit my fancy.

The shop was actually busy. Discussions about the increasing cost for 2004 silver proof sets seem to dominate this particular shop. An old man was looking at coins in the back, stapling them in 2x2's, grading them, while the other owner was helping a couple of other browsers like myself.

As I was looking, a young kid (early 20's) comes in and looked lost. He was looking for a plastic holder for Morgan dollars. Since both owners were tied up, he asked, "Do you know anything about Morgans?" I replied, "A little...but if you really want to learn about Morgans, you should really get that book (pointing to the Whitman Official Red Book of Morgan Silver Dollars by Q. David Bowers) and that will pretty much cover the bases."

He then asked (holding up a capital plastic 2x2 holder) is this a good holder for a Morgan? I told him, "Sure, why not...do you collect Morgans? He told me not really, but his grandfather that recently passed on willed him about 50 Morgans with one that he was told to be very special. It was kept separately from the others and saved in a "cotton bed" within a jewelry box.

"Do you know which date?", I asked. "It's a 1893 with a S on the back", he replied as he took it out.

"A 1893-S!!", as my voice rose. "Take a look at this Red Book, or better yet, this magazine (Coin Prices) and see what you have!" His eyes lit up and explained, "Look, I like to collect baseball cards and I really don't know anything about coins...but what you are telling me...this is fantastic!"

He also told me that a coin dealer at the flea market offered him $1,500 for it, but his mother told him to sleep on it. I told him that he needed to read up on it. It looked to be at least a EF40 coin! My eyes bulged and now the patrons of the coin shop started wondering what was the comotion about.

Now opinions were being thrown at the kid like EF45, EF40, maybe AU, could be a fake (from the old guy), and I piped in telling him that if it were me, I would get that off to either NGC (since we were in Florida) or PCGS to certify it. I told him that this is a popular coin for fakes and if this passes NGC or PCGS, it is worth way more than $1,500!

"Like certifying baseball cards?", he asked. "Exactly!" I replied. Well the owners were NOT to happy with my comments as this kid was probably looking to sell it. Instead, he ends up buying about $40 in books, magazines, and coin holders.

Oh well...I should of stayed quiet, but you never know what may walk through a coin dealer's door. Oh...those coin shop owners that never had the time of day for the kid holding a Morgan 1893-S dollar basically asked me to leave after I asked if they carry "X" or "Y" coins. The guy's answer was said abruptly. "No I don't...next question."

Oh well, I helped a kid but I got shunned by this shop all in the same day, same hour!

 

No way dude, dealers will rip off a kid like that. You did the right thing there

 

Not the worst time IN a coin shop, but out of it. I arrived in Stockholm, Sweden for day visit, walking around the city I found a coin shop(closed because of Sunday) that had Swedish plate money displays. I collect Swedish coins, particularly when they tie into Russian history ie Karl XII pieces from Northern War etc. But I had to leave that night and go back to Denmark. So no Karl XII or Kristina coins for me.

 

Spyder, there's a lesson to be had there. I can see why Midas felt as if there was a possibility that he should have stayed quiet. I can understand why he did what he did, but it was the wrong place, and the coin dealer might have been far more helpful than you think... either way, it was his place of business. On the other hand, we all probably feel that urge to help out, because there probably isn't a person, here, over 30 that doesn't forsee this same situation happening to their children someday...

In the same situation, I might have stayed quiet and gave the coin dealer a chance to say his piece first. It's professional courtesy to give him the first chance at bat inside the walls of his own business. But, I don't see why he would have been upset if you made him a book sale, unless he planned to lowball the kid, so maybe you did the right thing.

 

Rick's right...it really wasn't my place. I felt good about what I did, but I was not the person running the store and paying the bills. Coin shops exist to buy and sell at a profit, and I probably blew an opportunity for this coin shop.

I didn't solicit the kid, He asked me when the shop owners weren't giving him the time of day. My mistake was getting excited at seeing such a nice Morgan and then telling him what "I would do".

Let's see...$40 in sales for the coin shop or buying a key date at rock-bottom pricing. I understand why the shop owners gave me the cold shoulder after my "numismatic lesson" for the day.

 

Midas, i can see both yours and Rick's points. As a father and grandfather I would have probably done the same. I can only hope that if that situation arises with one of mine own children or grandkids, someone such as yourself is around to guide them.

Well done sir!!!

JD

 

On a side note related to those people that walk into a coin/pawn shop without any coin knowledge...(like the kid with the 1893-S Morgan dollar):

HAVE SPECIFIC INSTRUCTIONS what your coins are worth and where family/friends can look coins up. If they wish to sell, at least they will be educated knowing what they have. Sure we will be gone, but who wants to spin in their grave?

I have a folder with such instructions that is titled: "...So you found my coin collection."

Accidents happen and we are all short term owners of the coins in our position. You can't take them with you so make sure your coins get a good home after you pass on.

 

Midas,

When all is said and done, when you look back on your experience I think you will feel that you did the right thing. If you had done nothing and the kid had sold the coin to the dealer for 1/4 its value, I think you would have always regretted having done nothing.

If the dealer wanted to buy it for a fair price, he still could. And, whatever sum the kid eventually got for it, it meant a lot more to the kid than to the dealer.

 

I was visiting in central Florida several summers ago, and saw a coin store in a mid-sized town. I decided to stop.

I tried the door and found it was locked. Inside were several people seated at a table, looking at coins.

The owner of the store got up, walked over to the wall and pushed a button which unlocked the door. I walked in, but no attempt was made to greet me.

I looked at the cases of coins for several minutes while those assembled inside gathered back around the table and talked coins, obivious to my presence.

Evenentually I made my way back to the door and left. I doubt that anyone noticed.

Luckily, our regional coin shop is run just the oppositie. The owners know everyone in my family by name. They are fair and helpful, and never stand looking over your shoulder, even when we are handling very expensive coins.

Back to the Florida experience...I hope there aren't many shops similar to that one.