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How does this coin shop survive with low profit margin?
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<p>[QUOTE="Dillan, post: 3309751, member: 90539"]Sounds like a decent honest dealer that was being upfront with the sellers. Most shops would not be able to survive on that low of a margin. As @BUZZING mentioned this person most likely does this as a way to support his coin collecting hobby rather then support a business with those prices. It is very nice knowing that there are still people out there that did not try to take advantage of these people by offering them a lowball price and pull a ripoff which happens far to many times to unsuspecting persons. It is understandable that coin shops must make a higher margin , or there would be none which also would not serve the hobby well. By letting the customer know what the coins were worth gave the customer the choice to sell or try and get a better deal which I doubt very much they would get any where else. Kudos to this fine gentleman for being honest ,and treating people like the way we all like to be treated. I really believe that the coin shop owner was only making minimal to use to purchase more coins for himself . Plus he sounds like he likes to deal in person with others that have the same interests. A very interesting thread. thank You Dillan[/QUOTE]</p><p><br /></p>
[QUOTE="Dillan, post: 3309751, member: 90539"]Sounds like a decent honest dealer that was being upfront with the sellers. Most shops would not be able to survive on that low of a margin. As @BUZZING mentioned this person most likely does this as a way to support his coin collecting hobby rather then support a business with those prices. It is very nice knowing that there are still people out there that did not try to take advantage of these people by offering them a lowball price and pull a ripoff which happens far to many times to unsuspecting persons. It is understandable that coin shops must make a higher margin , or there would be none which also would not serve the hobby well. By letting the customer know what the coins were worth gave the customer the choice to sell or try and get a better deal which I doubt very much they would get any where else. Kudos to this fine gentleman for being honest ,and treating people like the way we all like to be treated. I really believe that the coin shop owner was only making minimal to use to purchase more coins for himself . Plus he sounds like he likes to deal in person with others that have the same interests. A very interesting thread. thank You Dillan[/QUOTE]
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