New Collector & Coin Dealers

Hi All,

I'm looking for some advice here. I have been to several local coin dealers for a few minor supplies...holders and such. Thus far, I have been disappointed in the general "feel" of the reception I received. Two out of the three actually tried to talk me out of collecting at all!! All three talked and looked at me like I was a five year old child. (I am a 36 yr old financial professional). All three also suggested that Ebay would rip me off every time.

Now I don't mean to suggest that they don't know what they are talking about but really...let's be serious. How can a Newbie walk into a store and expect to purchase anything without getting the condescending talk? I felt like I was looking at used cars. None took me seriously and all acted like I wasn't worth their time. One in particular had several bins of clearly collectable coins (ungraded) and when I asked about them, he indicated they were for wholesalers and other dealers only. He was only willing to show graded coins. These dealers made me feel like an outsider to some members only club.

I am not looking to collect MS70's for everything (or even anything). I am just getting my feet wet here but there are some significant investments to be made even collecting at a lower grade level. Part of why I'm in it is for my son as well. He really enjoys it and finds it cool to look at the differences in grades, values, and types.

Just so you don't think I am coming down on dealers, my son has had excellent experiences with a dealer about an hour and a half away. Unfortunately, he goes there with a relative and I have not been able to make the trip. Also unfortunate is within an hour drive in any direction, we only have four or five dealers.

Please let me know your thoughts? Any suggestions would be helpful.

Thanks.

 

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Most dealers are fiercely independent and somewhat suspicious of others in the same business as well as curious of new customers. I'm sure your aware that not all the deals on eBay are scams or rip-offs, but be smart and use the tools offered to make you decision (feedback, prices for completed auctions of similar items, etc.) in the most pragmatic way possible.

If I were to enter an establishment and the proprietor made a first impression like that to me, man ALL KINDS of Red Flags would shoot up and I would Back Out of the same door I came in with my hand on my wallet, LOL.

The bottom line is unless your in a one horse town, there is always another dealer who you haven't met and might turn out to be your best friend and confidant.

Bone

 

I would say that if a dealer is unfriendly, then he should kiss off. Pardon my french. There is only one dealer that I will buy coins from, and that is because he was instantly friendly, and is very honest, and I would even consider him a slight friend. He lets me trade, he buys some stuff from me, etc. All around good guy. I'm definitely a novice as far as coins go, and it took me several stores to find the right one.

 

MS70 is a difficult grade to collect.

I remember my very first time visiting a local coin shop - I just wanted to browse, and the store hours were posted until 5. Later I found out that his hours were more like a loose suggestion, but on this day, he obviously wanted to close up early. He all but shoved me out of the store. How a man runs his business is just that - his business, but I don't often go to his shop anymore... I drive an extra 30 minutes to another one I found in the next town east.

I would suggest you might give one or two that were least distasteful one more try - maybe it was a bad day. You know, we all have them. If the second visit is as bad as the first, you know it wasn't a fluke.

 

Yeah, please don't misunderstand, I haven't written them all off...just that when my son (10 yrs old) is bright enough to pick up the same vibe, I am inclined never to return.

As for other dealers, surprisingly, unless I go to Boston (an hour..and really who wants to deal with the traffic), the closest I have found is Cape Cod. There is one dealer on the entire Cape. He is the one my son has dealt with and had great results. My understanding is that he is semi-retired and does it for the pleasure of it. The shop is attached to his house. Maybe that makes all the difference. I am planning a weekend jaunt soon (an hour and a half away).

As a side note, being in New England, we tend not to like to go far. More than 10-15 minutes takes planning...LOL Just a quirky local thing. Not sure why.

 

I buy my supplies, mostly, from JP's Corner, he's honest, cheap and a store front dealer with an ebay store.

 

Mydrivec,

My experience has beem fairly close to yours. There are some good dealers around [one out of three near me]. But most deserve to go out of business in my opinion. Also, any dealer who thinks that Ebay [or any other outlet] will rip you off every time probably feels that way because they do the same to others whenever they get the chance. Coin dealerships are a very closed club that cater mostly to a relatively small group of regular customers. They might as well hang a sign on the door, "New Collectors Not Welcome."

 

The coin shop that I go to the most is kinda like those old time barber shops.Every time I go in,there are one or two regular customers just hangin' out.Sometimes the owner just goes to lunch and lets one of them watch the place for a bit.I do feel a bit bad when someone new comes in thinking his 1964 Roosevelt dime is worth $100 but that's life.I don't ever remember feeling unwelcome even when I was a fresh newbie three years ago looking for Morgans and Lincoln cents.I'm afraid that places like this might disappear in the near future but I hope not.

 

Dealers

Thanks for all the good advice. I think Cape Cod it is...

As for the supply dealer, I am amazed at the lack of nearly any negative feedback. That is quite a feat.

Does anyone know any good, reputable coin dealers that sell on ebay as an alternative?

 

I feel for ya. I live in Mpls./St. Paul and I've never left the computer yet in looking for what I like to buy. If me and my kids went to a store and were not welcome, we would never go back. Don't do any dealers any favors if they don't warrant it. There's too many good people 'out there' that want and need your business. Tough times are on the horizon, and cocky dealers will suffer. They will get just what they deserve.

 

I've probably purchased half of my coin supplies from JP's corner, the first time from an Ebay auction and subsequently from the website. I've never had a problem and always liked the prices.

 

Hi Peter,

The Cape dealer is Bass River Coins 1345 Route 28, South Yarmouth, MA 02664

I don't know the gentleman's name but he has been good to my son. For example, my son bought a $30 morgan (very nice specimen) and he threw in an AU 1922 peace dollar as well. I know that doesn't sound like much but both are excellent coins and the description of the entire experience he has had really makes it sound worthwhile.

As for the coin shows...is there a listing or resource that we can look these up on a regular basis?

Thanks again for all the help!!

 

Peter..
I as well live in New England (Boston area) and was wondering about the Mid-November Boston Show?? Any insight would be a plus..I mostly collect AGE, Modern and Old Commems, APE's and various silver coinage...

RickieB