Frustrated with coin shops!!!

So we're at a crossroad. With Collectors, Investors, Speculators, and part time Hobbists all on opposite corners of the street. In turn, the Dealer is in the middle of the intersection acting as traffic cop. And so for years now the dealers have pandered to the short term speculators allowing them to speed along without brakes until they crash. Over speculation on an item leads that particular item to become scarce, prices rise, demand from collectors or investors drop and the prices come tumbling down. The Morgan dollar fluctuations of the past decades is a good example.

 

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The OP's experience sounds a lot like mine too, with a few key differences. The shop I go to is mostly buying and selling silver and gold because that's what their customers are interested in, and they aren't really interested in foreign coins and seem to buy everything for 5 cents a piece if it isn't silver. They throw all the base metal foreign coins into a bin and if you're lucky and get there at the right time you can really get some deals, and I've been lucky like that before, so I can't complain too much. But I asked them what they did with foreign silver and they said they melted it all down and I thought that was really sad, because unlike when they talk about American silver as melt, I think they actually do melt this. I have to say though I can't complain with how they treat me. I've spent three hours or more there digging through their foreign bin tying up a spot on the counter and at the end of all that I spend probably $30, but they are always helpful and treat me like my business is valuable, even though they have other people coming in making thousand-dollar purchases or sales. I wish they had better selection for foreign but like I said I've gotten a lot of deals because they aren't interested in taking the time to figure out what they have, so overall I can't complain too much.

 

Hiddendragon:
Hmm you are in Naperville...are you talking about Fox Valley Coins? I was wondering if it was worth driving down to see their shop. They look a lot bigger than the local one I use in Bartlett. My local shop has the nicest people I've seen in a coin store, but they don't have much high end US pieces and I wanted to get one or two. I give them all my business when possible, though.

 

Yeah Hawkwing, Fox Valley Coins is where I go. It would probably be worth a trip for you and it's right off of Rt. 59. They have a lot of higher end stuff and a lot that isn't on display, though like many shops now they're really catering toward the precious metal crowd. They're good people and I always feel like the treat me well. I'd be curious about other shops you've been to. Send me a private message if you would. Fox Valley is the only one I've been to other than one in Glen Ellyn but I'd like to see if I can find some more foreign coins elsewhere in the area.