Coin Shop Experience

After reading this thread, I'm beginning to think that ebay is the way to go.

 

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I am surprised B&M shops can make enough money to stay in business. I suspect most will close up once the PM market levels out.

 

That's possible. But, I still like having a place where I can get coin supplies and dig through junk bins. And lots of people without any coin knowledge need somewhere they can identify to sell their stuff easily (even at a big enough loss to give the coin shops a big margin). I don't see coin shops disappearing any more than I see jewelry shops going out of business.

 

That may be so, but I've been to a few coin shows in recent months and nobody was handing out checks for anything. Neither dealers nor others. Go figure ?

I was stupid. I wasn't forced to sell and ended up gaining absolutely nothing but being deprived of my gold AND cash for 2 weeks. LOL Something I will never allow myself to be duped into ever again.

I did have and presented multiple forms of ID at the time of the transaction, so I think the shop owner was just low on finds. Anyway, it's not something I would ever accept again under any circumstance.

 

It depends on the B&M shop. Some of them do just check but some do cash payouts. I have sold bullion to the local B&M's in the past and some B&Ms issue you a check and some B&Ms pay out in cash. It also depends on $ amount of the proceeds from the sale since some B&Ms may not have but an "X" amount of cash on hand and keep most of their funds in their bank account.