Would you agree that Coin Dealers get a bad rap? I’m not talking about your average Joe ebay seller, but an actual coin dealer. I mean it’s got to be tough. I’ve been told that you spend countless hours searching for just the right coin in order to maintain your repeat customers. You have to charge enough to keep the lights on, but are restrained to fair market prices. How about shows? Endless traveling, setting up, waiting, haggling, packing up.. doing it all over again. How about the venue fees. I’m curious as to how you all feel about Coin Dealers in general. I’ve always thought that there was something respectful about the position.
Of course the do. All collectors think their coins are wonderful, but honestly most coins brought in to dealers are run of the mill, I have 30 in back items. Rare coins are rare, if every coin brought into a shop was a problem free, rare desirable coin I am sure buy prices would be stronger. But they aren't, its another 1941-1970 lincoln cent folder, a 1909-1940 folder 2/3rds full of circulation finds, junk silver, 70's proof sets, and a few dateless buffalo nickels. The dealer buying this stuff has to discount it for many reasons, not the least of which is he has no idea when he will find a buyer for any of this crap. You go to a dealer to be rid of everything, and such a service carries a price.
I've run accross dealers who I think deserve a bad rap for multiple reasons. But for the most part the dealers I've met don't deserve one and don't have one and come highly praised. This is really a word of mouth type of business and if people like you, you get good business. I've heard bad things about good dealers from terrible peole, but nobody listens to them anyways. Guy
As with any other niche, there are wonderful folks and not so wonderful folks who comprise the coin dealer pool. At times, what bothers me more is when collectors write posts that essentially state all dealers are liars or cheats. That is not something I want to read and I doubt most others would want to read that about themselves, either.
I have seen good and bad just like all fields. Heck, my local coin shop the owner is great, but the female (might be his wife?) is a clueless less than professional type. As I travel the State I visit them and now I know which ones to stay away from and which ones I like.
To me there are two types of coin dealers. The grumpy, mean and/ or arrogant ones are usually in it just to make money. They want to see some green before they get serious with you. If you look through a few albums or stacks of stuff without picking anything, they usually give you an attitude and tell you to stop wasting their time. Then there are the ones who also collect coins themselves. These dealers are usually friendly and very talkative. They can talk about coins all day, they don't mind if you ask questions and spend only a few bucks.
The world is made up of good people, bad people, and people somewhere in between. What they happen to do for a living has nothing to do with it. Any and every occupation has good people, bad people, and people in between. But there are a few things you need to be aware of. Even the very best of dealers will have somebody, somewhere, that was or is unhappy with a deal. And even the very worst of dealers will have somebody, somewhere that is happy with their deal. And there may be quite a few of these somebodies in each case. So how do you sort it out ? You sort it out by listening to people you know and trust and by not listening to anybody else. In other words, judge your source - not what is said.
Wish I had coin (bullion) dealers closer to me. The closest coin dealer to me is just about a two hour drive one way. Guess that's the way it is when you live in the sticks, lol... I don't make any special trips there, but when I do get to stop in I always purchase something. I have to say though the first time I visited I was kind of shocked at their prices after doing the ebay thing for so long. Not sure if coin dealers would like me making a offer or not, so If I don't want to pay what they are asking I just walk away. Another thing that kind of surprised me the first time I was in the coin shop was how half the stuff was not priced. I don't know if this is the standard for all coin shops as I have only ever been in two all my life, lol... For me there are so many advantages to shopping online. It is nice though being able to hand over cash and walk out with ASE in your hand and that's probably the only reason I buy from the coin shop when I do as their prices are not anything special.
Some dealers do fit into the grumpy, smelly, and anti-social type. But I also know dealers that love coins and love talking about them. My nascent years in collecting were helped along by a dealer in California that didn't mind me haunting his shop most of Saturday - his shop became sort of a hangout for us coin geeks.
Got two great ones that I deal with all the time. Both are good to buy at or near spot and selection is very good. Then the one guy who is nice and operates out of the front of my gun shop but has a mixed bag of inventory. The other shop that I stop in at, the guy in their is super knowledgeable but sometimes the prices make me think they are trying to pay the rent on every transaction. He can be dealt with if the stack of coins is big enough. Then there are the two guys who I will never step foot in their shops again. And if someone asks, I will not recommend them at all.
They do get a bad rap. Part of this is because folks say very little about the good dealings but raise heck over what they feel is bad. Many that are new to the hobby (not just the young) walk into a shop having little trust for dealers. So much bad is said that folks are programed to feel that way. To me, that's not really fair.
