Got a job offer from a coin shop

For the last 25 years, I've been kind of in and out of coin collecting at different times. When I got interested again a few years ago, the shop I had gone to since I was a kid had changed hands and had become over priced. So I went to a newer shop and found the owner and staff to be smart, fair, and fun to talk to. They have a good atmosphere...they cater to kids just as well as to a higher end collector.
The owner is real chatty, so I always visit with him for a while when I stop by...every few weeks. He knew I had recently quit my job to return to college. My wife and I planned ahead and saved money so I wouldn't have to work. We did the same thing when she was in school a few years ago. Anyway, the owner offered me a job. Said even a couple-few hours a week would help out. The job I gave up was as a department manager, so his pay is a fraction of what I had...and that's fine. It wouldn't be about the money. I still want to get through school quickly and without too many distractions, but this sounds like a neat opportunity. I have no illusions or desires about making a career out of it...coin collecting is a great hobby for me, but I'd never want to own a shop. That being said, I think I could learn a lot, get to see a bunch of neat things and the discount would be great.
I know there are a few people here that work at shops. Feel free to contribute your stories or advice.

 

Log in or Sign up to hide this ad.

It's good experience, first, which is something college students/grads need. And there are other numismatic careers besides owning a coin shop. If you have valuable first-hand numismatic knowledge, you could become a wholesale buyer for a major coin company, perhaps. And if you're a good writer, you might be able to snag a job as a coin cataloger. The more specialized your knowledge (and the better you write), the more you could make in that specialized field. Or become a grader ... a hard job, but the pay is REALLY good until you burn out. Or become an editor for a numismatic publication ... I'm just throwing these out that there are other numismatic avenues besides owning a coin shop. Good luck!

Best Regards,

George
====================
VDB Coins

 

K:
It could be fun!
Go for it.

 

When I was in highschool, I worked in a record shop, not because I wanted to own one or run one after college, but I had one heck of CD collection that was outstanding.

This will be a good opportunity to:
1. Make a little money
2. Learn about coins/the hobby
3. Build one heck of a collection so that someday you could pass this onto your children.

What an awesome opportunity. Find Clembo on here and I am sure he will gladly give you some advice about working in a coin shop and what to expect. Good luck.

 

Wow, a job that one would actually enjoy going to. I think you know the answer Klunky.......:smile

 

I think the more you know about the business would help you in the hobby. Personally I would do it, but I don't know all your circumstances.

 

I am going to try to get a job at a shop as soon as I'm old enough. What a great job... being able to enjoy the hobby and getting paid for it...

 

WOW!

You can make some money, and just keep on learning about coins, and maybe inspire some other people to collect the coins as well...

Good luck, and tell us how your first day of work goes..

 

Well, I took the job and I've already learned some things after only two half days there. Some good and some bad. It's still crazy to me the difference between what shops pay for coins and what they sell them for. Have to remember they need to make a profit to pay rent and employees...like me.
The volume of collections that come through the door was another surprise. I'm sure this economy is bringing about a lot of that.
Surprise number three was not a good one. They clean a lot of coins there. I stopped to think about most of what I have ever purchased there has been slabbed, currency, or 90% silver. I have looked at their raw coins a bunch, but hardly bought any. That's probably why I didn't like the way they looked. Case in point was last week they bought a collection of walking lib halves. They were all VG-VF...looked like they had been in the book for a loooong time. Loved them. 5 minutes later the owner was telling another employee to take them out and clean them. I was thinking maybe they just dip them in Acetone, but they use some kind of branded coin cleaner. "Easy Clean" or something...I can't remember. Later I saw another employee with VG Barber dimes...he would dip a Q-tip in the bottle and scrub the heck out of the coins...he was pushing really hard.
So what should I make of this experience so far? Does every coin shop do this kind of thing? I'm kind of bummed out now...

 

I see alot of cleaning just being in a shop looking through the junk boxes. On the bright side (hehe) you will get good at cleaning and recognizing when a coin has been cleaned.

 

That is disappointing to hear that. I know that my local coin shop will dip coins if they exhibit some toning and they are UNC, but I have never seen anything other than unc coins being dipped. But obviously there are people out there that buy these coins.... and for top prices too otherwise, you would think they wouldn't be dipping them.

 

As Mark Twain once said: "find a job you like, and never work a day in your life!"

 

This is true..Get a little bummed that they clean some of their coins, but you will have a trained eye for cleaned coins, won't ya' now?

 

I'd be all over that if I were you!!!!

 

exactly how much do graders make? What is REALLY good money? How does one become a grader?

 

That sounds great! I would love to get a job offer from a coin shop!

 

It was a good move Klunky. Been just over a year for me now. I don't make what I did painting (heck just picked up a side job painting) but I get by and love it most of the time.

At our shop I advise or buy most of the small sized paper money. Boss knows I know it better and am able to pick out notes he might turn down.

I learn a lot there. The boss has forgotten more than I know but he always respected me because I could discuss half cents in one breath then switch over to Standing Liberty quarters. A little general knowledge goes a long way.

At times the job will get tedious and or boring. I wait on the majority of customers when I get down to it. I'm a natural BSr as it were. It does get boring at times especially when you hear the same questions over and over. You just have to realize that at one time YOU were that person.
Hey, I got so bored at one point I just laid of CT for a while. Same old stuff I heard at work all day.
Tedious is jewelry. We buy gold and I have no use for jewelry myself. Still I sort it when it comes in (which happens every single day) and sell the occasional ring or pair of ear rings. I get paid for it.

Another area I am still learning and always will be is World coins and paper. Put it this way. My boss buys darn near anything. I have a newfound respect for those that collect world stuff. Looking it up is half the adventure believe me.

A great advantage besides learning is getting first or second shot at a lot of coins. My co-worker Scott gets first dibs. Only fair - he's been there about 30 years and he teaches me SO much.
We also look out for one another. He knows what I like and I have an idea what he likes. If we buy something he may want I always make sure to show him.
I'm pecking away at Barber quarters right now. Have 31 holes to fill. 3 I may never own but the rest are realistic and I'll buy most of them at work. Some holes I've filled for as little as $3. Tougher ones the boss is not going to give away but still I often get them at bid or less.

The cleaning thing. Yes, it does happen. Too many people want a "blast white" coin so it happens. Personally, I'm of the original tone camp myself.
Many unc Morgans get a quick dip in Jewel lustre and are then sent to PCGS or NGC for grading. They come back in regular slabs so what does that tell you.
I hate to admit but I'm getting pretty good at cleaning coins. Still don't do it at home but do at work.

I don't clean AG-VF coins as a rule. I will give them a good soak in acetone or hit them with Blue Ribbon. A necessary evil at times.

My best work was an Isabella quarter. Took a black coin and worked it very slowly in stages. Got it to a point where it was still a nice grey patina. Boss wanted to go another step and I said NO WAY. Slabbed at ANACS as AU58 with no cleaning mentioned.
Can't say I'm proud of it but regular customers were impressed with it.

At other times Scott and I have just said NO. Touching it as we'll only harm it.

Guys like us are not going to enjoy doing it Klunky but with patience and practice it can be done in a way that doesn't make you feel like a heel.


You'll enjoy the job Klunky. You'll notice over time that you get adept at knowing what coins to sort through just by overall wear patterns of a lot. Seeing coins in bulk gives you that "hunch". My best was a lot of dimes we bought not long after I started. Some well worn mercs so I took the time to check them. Yep, found a 16-D. The boss paid a buck for it and said in 42 years he'd NEVER done that.
NGC slabbed it as G4 and he sold it for $825.

For those that don't work at shops don't think we go through every coin that comes. Not enough time. You work on hunches. About 80,000 wheats sitting at work right now. I recently searched about 6000 because I was seeing early dates. Did locate a 15-S in VG.

So things you might expect Klunky. Way different on the other side of the counter for sure. Realize you are a valued asset and well trusted person to get the opportunity. Coin dealers don't just hire people off the street. To me it was flattering to say the least and I love it (most of the time}.

 

Parts of this thread could lead us to a discussion that has been on Coin Talk several times since I've been a member and I'm sure many times before that.

It has to do with coin appearance enhancement (Is that politically correct or what?) There are several articles scattered around the internet that wind up saying basically the same thing. That is the majority of old coins being collected have been enhanced at one time or another if they look really good. I agree with the statement, but have nothing to support it other than what I see.

I think this basically falls into three broad categories: 1. Harshly cleaned 2. Polished and 3. Properly restored. I firmly believe there are people and companies out there capable of restoring a coin to a true beauty that is otherwise lost.

I see collectors post pictures of coins here they have purchased and are rightfully proud of them both in raw and slabbed. In my opinion many of these coins had a little help at one time or another, and to me that is perfectly fine.

I will admit a coin that is in a state of fine or very fine that has been restored will look like exactly what it is, overdone. But, in high AU and MS it can make a coin look truly beautiful.

It has been discussed many times that it is okay to restore old cars, antiques like funiture and paintings, but not coins. There are people who strongly believe in this and that is fine if that is what they like.

Coin dealers do not restore coins because they have nothing else to do. They do it because people like coins that are attractive to look at and in coins that old statement "Beauty is in the eye of the beholder" is definitely true with people building their entire collections around what they consider "beauty".

I'll go out on a limb here and say many coin dealers that are Coin Talk members time to time enhance their coins also. I'll probably be blasted for saying this, have nothing to support it, just my opinion. It is often said here that only the inexperienced buy coins that have been enhanced. I don't believe that at all. I don't think a brick and mortar coin shop dealer can stay in business only selling to the inexperienced coin collector.

When I was in Orlando at the Fun Show there were countless Morgans being sold by dealers, and in my opinion coutless numbers of these Morgans had some restoration done. I just can't believe that many old coins could look so good without a little help.

Everytime I show my collection to a non-collector their eyes are always 100% of the time drawn to any proofs or coins that shine well on the page. When I say "shine" I don't mean shined , but have great luster.

I guess what this all boils down to is buy what you like, what appeals to you. Just as some people think Peace Dollars are beautiful, others think they are ugly. The important thing here is to not others establish for you what looks good and what doesn't.

 

Yeah, me too.

 

Guys,

We have an intern at our shop. He works Saturdays when available and just turned 15. He's a Boy Scout and earned his merit badge in coin collecting.
I had the honor of giving him the test. Way cool!