Bad experience at new coin shop

Stay away from Shops like that. They give coin dealers a bad name. When people call me I tell them a price for junk silver and then tell them we need to look for better dates, any key or semi-key dates, or coins in better condition. I buy coins, currency but I am not a shop just a collector but I have had people bring me coins that they said were junk silver and found better dates when I went through the coins with them. They were very happy and remember word of mouth is the best advertising you can get!

 

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One needs to treat shopping for a Professional Coin Dealer with some advanced effort . BY that , I mean doing some initial background information gathering . It's also a good source of information when first introducing yourself to a prospective Dealer or " shop " . Many folks disregard this aspect in seeking to develop a business relationship with any service type business. It's take a little effort, but the effort has unending potential rewards.

Lacking that approach is by no means an excuse or justification for finding yourself treated in an unprofessional manner or otherwise " Rudely " . It's like going for a job interview , you want to be prepared with important information about that particular business and specifically , that company you are interviewing with. IT takes " Two to Tango , so to speak , and you want to put your best foot forward in making a memorable impression upon the interviewer or in this scenario , the Dealer . Don't go in there expecting to be invited to afternoon tea .


As in most circumstances , achieving your desired results takes knowledge , patience and good social skills .

 

I have given up on coin shops, in the most part. They are all (around me) looking to buy well below spot. However, I can usually pay "ask" if they have something I want (I do not consider "ask" to be reasonable anywhere other than a B&M shop).

 

I don't know your background or level of experience with Buy or Ask prices , but your approach is somewhat unrealistic . More often than not , collectors pay considerable premiums above the " ASK " price , depending upon Market Trends for any individual series or issues . If you restrict yourself to only making offers at that or below, your doing yourself a disservice .

 

Depending on what you are buying perhaps, but that is above my level of collecting (mostly commemoratives & peace dollars).

Of course, for a rare or significant coin you would expect to pay more than ask.

 

To me there are two types of coin shops. One is the old fashioned one where they wish to sell retail, help out new collectors, etc. These are becoming scarcer because of the internet, etc. The second type exists simply for the owner to have an office and to buy coins from the general public. Retail sales really aren't sought out. These are common simply to give the general public an easy way to sell inheritances, etc. They are very different places, and it sounds like you have found the latter. Not uncommon at all, as I would be trepedatious starting a traditional coin store with internet competition nowadays, and I salute anyone brave enough to do so.

Chris

 

That is accurate. In some cases, the owner has told me point blank that selling is only a minor point in his business.

 

Man, I walked into a coin shop this past weekend that someone recommended.
Heres out that went:

The entire front was full of junk and some old bearded dude was standing there. I said "I heard there was a coin shop here". He pointed to the back. So I went to the back room. There were several glass cases with lots of coins layed out. I ventured to the Nickel area.
Some shady looking character was behind the counter and I asked him if they had any 1938D and 1942D Uncirculated Jeffersons.
His crazy eyes looked at me and he said "what kind? Dimes, or nickels, or quarters?"
I said "Well, I'll take every Jefferson Dime you have..."
He didn't have any Jefefrson Dimes, or nickels for that matter! lol
The place looked more like my garage then a retail shop of any sort.
I grabbed a nice toned 1884 morgan from a "$25 morgan tray", dropped the cash on the counter and walked out, never to return again.

 

I'm in Colorado Springs and we have a great little shop here in town that I normally purchase all of my coins through. Though they're usually pretty busy, someone always says "hi" and will gladly answer any questions I might have. Recently their supply of higher graded Morgans was running low and I was making a trip up to Denver anyway so I decided to try a place new to me. There was only a couple of other customers in the place, so not very busy with the 5 employees and a security guy walking around. I asked to look at a couple of slabbed Morgans and the lady was pretty rude and wouldn't let me look at more than one at a time, so I made her pull them all out over and over. While I was looking the owner kept coming over and telling me that the Morgan I had picked was a "great" price, "wholesale". I just wanted to look and learn and take my time. While looking, the owner was working with another lady trying to sell some gold, and kept telling her to take it or leave it, the security guy told another employee to STFU and be quiet and it made for an overall pretty uncomfortable atmosphere. I bought my Morgan because it was a year and grade I was looking for and left and went next door to a smaller shop. I won't go back and the reviews on google were spot on about that place, but I figured I'd give it a go and I might find something.

Makes me even more thankful for my great little shop here in the Springs...now if they could just up their inventory a little