Are coin shop owners hurting the numismatic community?

Don't harsh my mellow man!

 

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I fully understand what you are trying to say, and yes dealers can price sales to their advantage. I think that it can be generally accepted that a dealers buying price is that of about fifty per cent of what he can make on a sale, but rare and valuable coins are a different matter all together.
As for coin shops, over the years I have been to quite a few and all have them have provided an invaluable service to collectors. Over the years I have also been to many coin shows, and because there will be many stallholders competing against one other there is always going to be the chance of finding a bargain.
Do I think that coin shops etc hurt the numismatic community? As in most walks in life you will always get that small element who will always try to spoil things for others, but at the end of the day we make mistakes learn from them and go on.

 

Just going out on a limb here, but perhaps he "came up with that" from when you said this...

Now does it really matter? No, and I am sure no one really cares what you do with your money, but if you're going to imply something in one post, don't get upset if someone calls you on it at a later point.

If this is what you truly believe then you've already the, ahem, "answer" to your question, and from past experiences I doubt anything said to you will change that. If you do not like what you see going on around you, perhaps you should consider giving people an alternative.

 

A snotty nosed piglet?

 

What hurt the numismatic community the most was the extensive bad press about the gold JFK.

The dealers who hired all those people who created all the chaos really embarrassed our hobby on TV all over the country for days.

 

Use the market to your advantage; each venue has its advantage:

1. Go to a brick and mortar dealer if you have a good relationship and/or you want to see the purchase in hand. You will usually pay more.

2. Use ebay if you like to gamble. Sometimes you can score a good deal. You can also get what you want when you want it without leaving your home.

3. If you want more security and best quality use a reputable auction house like Heritage, Stacks, or Goldberg. You have to wait for the auction though.

4. Lastly, if you have time you can hunt and bargain at a coin show where the competition is best. Again you have to wait for the event.

 

I always thought this was a pretty easy question - bullion or coins. No matter the price the dealer puts on it I decide if I like it at that price - if not I move on. That includes the LCS here where I do a lot of business. Of course this shop moves a lot of precious metal. Silver is always spot + 1.50 for single ounces, spot + 1.25 for 10 to 99 ounces, then spot + 1.00 for 100oz's or more. I think I got those numbers correct. Been a long time since I have seen the numbers move. And they always buy at spot. According to them they make their money based off the total volume thru out the year.