Local Coin Store

Discussion in 'Coin Chat' started by Blaubart, Jun 19, 2012.

  1. Blaubart

    Blaubart Melt Value = 4.50

    Is it just me, or does anyone else have trouble biting their tongues when you're in a coin store and someone brings in coins to sell.

    This older gentleman brought in a large collection of proofs, silver proofs, Morgan and Peace dollars today and I decided to linger a little longer than usual so I could hear what they were offering for some of the nicer stuff that should have sold for more than melt value. Lets just say the store got them for a very good price. I really wanted to at least check out the Morgan and Peace dollars, but I didn't want to even seem like I was trying to steal their sale or encroaching on the seller's privacy. I mean, they were in really good shape - All AU/BU or better. Sure, they could have been cleaned, but I'm suspecting this guy was around when they were minted and is the original owner. :yes:

    I usually have a post on craigslist advertising that I want to buy silver at a price that's fair to everyone. I just wish old guys like this one would check craigslist. (Assuming they've even heard of it and have a computer!)
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  3. jloring

    jloring Senior Citizen

    Yep... happens everyday, and helps keep the B&Ms in business. Most make fair offers compared to the "we buy gold & silver" scams. Still, it's a lot better than taking them to the bank and getting face (but because some people do, the "roll seachers" benefit).
  4. Dennis68

    Dennis68 Member

    I see this all the time also. My not-so-local coin shop still pays more than the "we buy gold" places but still only around 80% of melt. I also run an ad on Craigslist,but I will tell you this,an ad in the local paper works much better.
  5. roll searcher

    roll searcher coin hunter

    Sort of off topic but when silver was in the $40 range, I called my dealer and asked how much I could get for my 40% silver halves. He said $1.50 each :( they were worth almost $7 each in silver...
  6. saltysam-1

    saltysam-1 Junior Member

    They really don't have too many places to go. If it's not a B&M dealer, I wouldn't recommend craigslist, any mail order operation, a classified ad or a temporary out-of-town visitor either. Too much can go wrong. They need to get more than one B&M dealer price and compare.
  7. Stang1968

    Stang1968 Member

    I was in a local B&M shop when someone came in selling his father-in-law's collection. it was mostly proof and prestige sets from the 70's onwards, but there were some common morgans as well, all in lower grades. Dealer decided to pass as he was already sitting on a pretty substantial stash of proofs, but he turned to me and nodded to the seller that I may be interested in some of... Well I took a look, but I passed in the end too. I did give the guy my phone number as he said he had more at home, and I told him that I was looking for Pre 1930 lincoln cents primarily. I never did get the call...
  8. Clint

    Clint Member

    I'm with the folks who posted that the situation is fair. The guy could shop around, research, advertise, and on and on...or take the cash right now. That last option has a tremendous value. The store has to sit on inventory and continue to pay property taxes/lease rents, or whatever. But I feel what you're saying...
  9. icerain

    icerain Mastir spellyr

    Whenever someone sells coins at the store I go to I always hang around. The owner doesn't seem to care much either. But I did hear the price once and knew it was very fair. And I also constantly see people walking in with silver coins for sale.
  10. bradarv90

    bradarv90 Member

    Lucky. When I first started my local coin dealer offered me face for 1965-1970 halves. I never did like that guy.
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