Coin Shops & Odd Business Hours?

Sounds like this guy doesn't expect to be in business too much longer! I think most coin shop customers can get used to even the strangest hours as long as they are consistant, and the owner follows his own posted schedule. Alocal used car lot lost a $10,000 sale because he was not around when I came to test drive a vehicle a few years ago. I didn't bother to tell him after I bought a different car somewhere else, that was his own doing.

 

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By the time you rent a place pay insurance and etc you have to sell 7 days a week to make it pay That is why i work out of my house attend a few coin shows.

 

Same here in St. Louis.... M-F 8-5, some on Sat, like to Noon or when they feel like it...

At 1st I woulda thought that most of the people that have enough disposable income to collect would be people that work 8-5 or daytime hours, but evidentially, not...

My guess is your right they would have to be or they'ed go outta buisness of they didn't... You can only hang on so long...

Also, most coin shops are small Mom and Pop, family owned or some sorta partnership... I don't really know any Chain store opperations...

The Biggest store I have ever saw or heard of is called Scotsman Coin and Jewlery... They have been around longer than I've been alive and are known more widly for their Auctions and Tables at Shows than the storefront I think...

Over the past 4-5 years I've seen them quoted several times in many of the coin rags I read...

 

All of the ones in my area operate on the same hours
M-SAT 9-6
M-sat 8-5
T-Sun 10-4
Decent hours in my opinion, great selection from all of them, and dozens of other stores that I dont bother to go to.
They also do scrap gold and silver. jewelery etc. I mean its a diverse business so if ocins are slow theyll make their money from their scrap they buy.

 

The shop I work in is closed on Wednesday and Sunday. The other days it's 9-5 but we will leave early if the boss wants us to.
His wife had a stroke last year and still in a "rehab" home so he'll close early to go see her. Hey, he's the boss but he still pays me for 8 hours.

He also owns another shop just across the Illinois border (we're in Indiana). That store is closed on Tuesday and Sunday. The "manager" is never on time but will stay much later.

It's gonna be different for any given dealer. My boss has been at it for over 40 years now. He knows A LOT of people and that is really where A LOT of the money is generated. If he can seal a $10,000 deal from 10 minutes on the phone he concentrates on that.

Today he made three decent deals all over the phone. Two are already shipped and another will go out tomorrow.

Floor sales were not real heavy and I did most of those. I figure I did about $800 and the store perhaps $1000 total for floor sales today. With three employees there today that won't cover payroll.

When anyone calls or stops in we always make sure to give them a business card and advise them to call first. We also have an 800 number. We don't want someone making a trip for nothing.

I'm sure we lose an occasional sale but the boss is getting older and still making the big deals. He still likes to and does make money but he's not as gung ho as he once was. That's why I deal with so many of the small deals.
He doesn't have the patience and I do.

Yes, I figure there are many reasons shops keep odd hours.

 

My local California Coin Shop closes everyday at 4:00pm.

I always seem to remember this either in the parking lot at 4:05pm or at 4:30pm when I'm thinking I need to go pick something up!

I never, ever remember it at 3:30pm! :headbang: