Do the majority of LCS buy Ancient coins?

Nick,

Thanks, YSAC. That is, Your suggestions are convincing!

 

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My LCS does carry ancients, though they're a small fraction of their inventory. Their prices for buyers are competitive, though I've never bought from them since I only buy from companies that specialize in ancients and can identify fakes.

The big issue with selling to them is they offer no more than 50% of their price. So, for example they had a VF Domitian denarius with Minerva advancing for $120. That means someone sold it to them for no more than $60, and probably $40.

 

There are still local coin shops? I am pleasantly surprised. In Manhattan, there's Stack's Bowers on 57th St., but I don't think that's what people mean by the term. And Brigandi has been around forever, but their main focus now is sports cards and memorabilia. I've bought and sold at both places over the last 40 years.

So what's the generally-accepted meaning of the term? Does an LCS have a website? Does it sell on ebay?

 

It is hard to think of Stacks' Bowers as a LCS because they don't display their inventory and you have to know what you want to ask to see it.

I think a local coin shop has a storefront and sells locally. Manhattan is strange because the rent is too damn high.

Other New York coin shops I'd consider local:

Brooklyn Gallery - Way out in Bay Ridge. Huge website, especially for books and supplies. LCS.
Astoria Coins & Collectibles - This is what most people think of when they think LCS.
Bosco - Manhattan. Coins and huge inventory of rare medals, dealer doesn't want to sell them to you. Not really an LCS?
Coin Exchange NY - Hartsdale. Buys coins locally, sells them on eBay, seems surprised if someone comes into the store to buy. Not really an LCS?

 

There was an LCS near me who was like your Bosco. When I first started collecting I really wanted an Aes Grave As, which he assured me he had and might sell, but first I had to sit and chat with him, and slowly see all of his other fabulous coins (including many other Aes Grave). He was a nice guy but I think he just wanted the company and didn't care much about actually selling coins. I never did see the coin that initially brought me to the shop!

 

To be fair, Stack's does have a number of display cases with coins for sale -- including a couple with ancient coins, both slabbed and unslabbed -- inside the entrance to the store. I suspect, though, that the atmosphere is a bit intimidating for the average walk-in customer, what with the uniformed security guard who asks you your business and whether you have an appointment!

I debated with myself whether to list Paul Bosco, who is quite a character. (He usually has a table at the annual NYINC if you want to meet him.) His inventory is indeed amazing, and back around 20 years ago I bought quite a few coins and historical medals from him. The main problems are that (1) his store -- which has changed location several times -- rarely seems to be open, (2) he takes forever to respond to emails at any of his several email addresses, and sometimes doesn't respond at all; and (3) he has a website listing his inventory, but you can't buy directly from the website. You're supposed to email him. See No. 2.

Once in a while, he sells on ebay.

If you ever do find his store open, he's happy to sit and chat with you for a long time, about coins and medals and life.

 

Basically I was asking about just the average LCS.

Like if you drove to a random city in America and Googled coin shops and want to the ones listed I’m wondering how many buy ancients.

I wonder if the Heritage Auction sticker helps verify authenticity?

Afterall HA says they are real even if NGC doesn’t guarantee it. They’re selling them on their website as authentic.

But see how they put a HA sticker?

 

FYI I got this email from CNG this morning...

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Is that yours? Nice owl!

 

Most world coin dealers have a guy like me. If he gets in some ancients to offer on, he has me come in and tell him what they are and give him what I would pay. He offers whatever he wants to and if he gets them I am there in a day giving him cash. He has guaranteed profit, I get good coins.

World and ancients have always been more tied together. Most US collectors consider it US or not US.

 

Most are mainly places to buy from the public. They then slab the best and sell online. Some old fashioned ones remain, but are rarer.

 

Hi @Ed Snible!

This brings back memories. This was the first coin shop I ever walked into, when I was about 10 years old. After that it was Gimbel's (sigh) and Macy's. Ahhhh .... the good ol' days. Thanks for bringing up this memory!

- Broucheion

 

Thanks yeah its mine .

I'm curious if the Heritage Auction sticker helps sort of verify authenticity?

I mean if experts at both NGC & Heritage are saying it's real how much more verification can you get?

 

I have a great LCS in my little up north town. Unfortunately, he doesn't deal with medieval or ancient coins. I have to resort to eBay etc for those! I've brought him in a few just to chat about, but I get the feeling the market for ancients is not typically found at LCS.

 

My LCS is old school! Cash and carry whether buying or selling. Mostly US coins, gold, silver, etc. A few world coins. Nothing really old, although he does have some rare coins like an MS 1916D Merc!

No website, no eBay.

 

Just reminded me of something interesting. When I lived near an affluent suburb of Detroit, my favorite LCS had double security entry doors where they had to "buzz" you in and out. Presumably, if something sketchy happened, the perp would get stuck between the two doors!

Now, where I live up north, my LCS will prop his front door open on nice days, to let in the breeze.

I suppose the 45 on his hip is all the security he needs! Nice guy too.

 

Nailed it! I had this one Ignored, brought it back, and see the radical Avatar change.

Also talked about the Ancient gold coins he was buying...

 

She. Check her profile. Please just take her word for it, unless there's a good reason not to, however she may have presented previously. It doesn't affect any of us.

 

..naa...it ain't no thang...

 

No clue. I guess I'm not in the club. AIDFC.