Coin Store's

Discussion in 'Coin Chat' started by Duke Kavanaugh, Oct 11, 2010.

  1. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    There are so many stores all over and I was just wondering what are some of the favorite things at your local stores. I'm sure they have many variables.

    So what is your favorite thing about any coin stores you've been to?

    Here are some things I like about the store I go to.

    Good mix of inventory, (ie. Currency, coins, tokens ect....expensive to cheap)
    Spot of "bargain bin" and a chair to sit and pick thru
    They will hold some stuff for me that they know I will like/want
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  3. cubenewb

    cubenewb Consumer of Knowledge

    The 'Bid Board!'

    My local one has this, I'm sure others have a similar station. People pretty much pay like a 2-5% commission to post their coin on the 'Bid Board' (essentially a corkboard with people's coins in small bags and descriptions pinned up). You can buy things outright for the initial price +10%, but only if there haven't been any bids. It's a good way to get good deals from other people.

    I bought an old silver bar, that sucker was a shiny pour bar and had the weird denominations consistent with those types of bars (something like 5.13 oz). Paid something like 60 bucks for it way back when silver was 10-12 an ounce, resold it on eBay for $150.00! Very fun!

    On the other hand, I bought a common CC (1882) off it for 180.00, I'm pretty sure it's been dipped though : ( .

    But overall I really like this feature my local coin dealer keeps in his shop!
  4. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    I've been to a store like that. I was passing through so I did not get to bid on it but it looked neat. Do they put reserves on them or start them as a certain prices?
  5. krispy

    krispy krispy

    I don't live in the town nor the state where my favorite store is located. It was my first coin shop and remains my favorite coin shop. I won't tell where they are nor what their shops name is so that it stays my secret and as good as it has always been, to me. They are local, not online in any big way (besides maybe Superpages & yellowbook) but they do some shows in their area so I'm sure someone has benefited from their friendly dealings. They are the best because I've known the folks who run the shop most of my life. Because I've learned a lot from them when I was getting started and probably got more from them in educational interactions than purchase transactions. Lastly, no matter if I go months, a year, or in a couple of cases during college, a few years without being a patron, they never forget me when I walk in the door and are glad to have an old familiar customer back.
  6. cubenewb

    cubenewb Consumer of Knowledge

    The one at my coin store is a bit weird... there aren't really explicit reserves, I suppose you have to base your starting price to create a very effective reserve (i.e make sure your starting price is at least the minimum amount you'll take divided by 1.1). Other than that no reserves; they let you post your stuff up on a Sunday, and it stays up until the next Sunday, unless it doesn't sell, in which case I think they let you keep it up there until it does sell for a reasonable duration of time.
  7. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    So Krispy does your have anything special about it other then great service?
  8. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    Anything other then a bid board that is neat?
  9. cubenewb

    cubenewb Consumer of Knowledge

    Well my particular shop has all the associated pleasantries of any old coin shop, but it also doubles as an autograph shop. They have some pretty cool signatures, I think Frank Sinatra is among them. There's always something to look at.
  10. vipergts2

    vipergts2 Jester in hobby of kings

    there are only threee coin shops in my area, I wouldn't call them local because they are over 30 miles away. I narrowed my shopping down to one store. The first shop I visited sells to high and buys to low, the second shop I went to decided to go by appointment only, so that left me with the third shop.
    They have fair prices, a decent inventory of coins, books and supplies and they are pretty friendly for the most part. I have bought and sold there and felt I got a fair deal both ways.
  11. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    I have heard of some of the shops doing the "appointment only" thing. Why do you think they do that?
    Just to give them more free time and/or to get only serious people in their shops?
    It sure seems like it would limit their sales by a ton.
  12. Evom777

    Evom777 Make mine .999

    My favorite local shop is in a small town and is run by a guy who has several decades on me. He has some paintings on His walls for sale, and He buys various antiques from walk-ins as well. (I donated some things to put in His windows too)

    He`s a guy who can talk to You about many subjects, and respects loyal customers. He has traded with me countless times and gives me better deals than anyone else. He would hold anything that I might not have the money for if I asked Him too as well. Most of my bullion and silver art bars have come from Him and He`s always bringing in new inventory. (last week He acquired a complete set of ASEs including proofs that are in a Dansco album.)

    The selection is a good variety with maybe the exception of ancient coins. (A lot of older notes) Overall it`s about the environment with me.....some shops that are around me have more of a pawn shop aura to them (and not the decent pawn shops) and can be impersonal. This shop has a small town vibe to it that I love.
  13. krispy

    krispy krispy

    Well, if the dealer wanted to bring out some high value or scarce items to discuss one-to-one with a potential buyer, they may want to offer that unique service, shutter outside distractions and not compromise the deal during normal business hours. I could certainly see sitting down with a dealer right after closing time when the shop could be closed from regular business distractions, with the dealer in control of the shops privacy and creating a stress-free environment for a high dollar transaction or trade. If I was in a position to acquire items of this nature I would really appreciate the time to sit down and discuss matters candidly, securely and without the curious onlooker or random stranger overhearing my negotiation with the dealer-- again noting this especially being the case with reviewing offers of high value items or perhaps a large purchase of many items which we were hypothetically reviewing together.
  14. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    I think he was referring to a coin shop that was only open when they had an Appointment. The one I was speaking of was that way too. No store hours that they are open. Just when they have an appointment and to that person.

    What you were speaking of I totally agree and see why that would be a great thing. I was in a store that had a private office that those deals can go down in with the door closed. But that take a larger store for sure with multiple employees.
  15. krispy

    krispy krispy

    There are some high end dealers in Manhattan that appear to operate by appointment only, no retail space. I've never tried to approach them, they're probably way out of my league. :eek: :(
  16. 10gary22

    10gary22 Junior Member

    Since I have not been buying a lot recently, my favorite store is an on line supply house. The best coin store in my area provides all services and has a good coin inventory with "experts" in differing areas along with a good research library. They don't sell on consignment though and will only make buy offers. Of course, I feel they are making too low of an offer. But I hate to sell a coin unless I am getting a newer addition.
  17. swish513

    swish513 Penny & Cent Collector

    my favorite store is such because i can go in and talk college football while i shop for coins. the owner keeps an eye out for things that he knows i want/am looking for, which includes albums, books, and coins. plus, he always cuts me a deal when i buy my indian head cents! :D
  18. 10gary22

    10gary22 Junior Member

    I used to talk College football in chat forums. I got tired of people making remarks that I didn;t know the game, etc. with no knowledge about me at all. Often those same people were gone after Saturday's games were over. Handicapping as I do, one cannot afford to become a "fan". I run stats and only stats, which doesn't seem to make for good conversation. lol I did catch a nice 8 team parlay on the bowl games last season that I played at 4 different books here (same card). I don't like to make all my bets at the same Casino week after week. But I enjoy meeting others who are interested in the culture.
  19. Johnny Ringo

    Johnny Ringo Member

    I just found a store with a tray full of coins for $100. Every day a coin is added until it sells
  20. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    Never heard of that. It sounds interesting.
  21. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    Kind of like a Coin Club.
    So I'd put that into the "Service" area too I'd guess.
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