I expected to see many things when I started as an associate dealer a couple years ago but some things you just can't get used to! Had a fellow come into the shop the other day who claimed he had been on the internet and had some coins that were worth a fortune. With that said I knew what was coming but listened to his excitement when he said, "I have a bunch of copper 1944 Lincoln cents!" All I could do is smile and say, "So do I" and then explain he had the wrong year. Well then he threw down a Morgan dollar that he knew was worth a fortune and rare. The coin was an 1888P Morgan in about very fine which would retail for about $26 at todays rates. I said, "Let me show you something as I brought up the 88 in Very Fine on Ebay. See these right here at $24 to $26 dollars? Just like yours! I am sure he was disappointed when he refused to sell the coin and left the shop! A bit later a young man came in with a large box of Lincoln cents, 1964 to present, claiming every one of them were error coins. He had made up his own designations for each and every one of them. I advised him to buy a Red Book to learn about real errors and what to look for. Learn the language and be honest with yourself when examining your coins. And just today a fellow came in with a 1907 Liberty Head "V" nickel and did not want to sell it but just wanted me to see it. I was impressed with that circulated nickel (probably a fine obverse and a very fine reverse) with some really great doubling on the reverse and I don't think I had ever seen anything quite like it in a "V" nickel. What a great find for a collector who knew what he was looking for! He smiled before he left and said "I am putting this coin in my type set, not because it is high grade or beautiful but because it is so unique!" You never know what is coming through the door next!
Next time these characters show up, engage them. Find out what they've got. Show deep and sincere interest. Ask them how much they want for their rare coins. Then when they've completed their sales pitch, you go get a handful of those same coins and offer them to the 'expert' for half what he's asking you to spend. See how quick he changes his tune.
My dealer is the sort of fellow that likes to make people happy. He tells me the hardest part of his day is when folks bring in granddad's treasured pocket piece Morgan only to find it is so worn out it is worth little more than spot.
In the hispanic community all steel 1943 Cents are super rare and worth thousands.. All because of Spanish news reports giving out incorrect information.
OK, here's an observation from me. What you're describing goes a long ways towards explaining why coin dealers get such a bad rap from a lot of people. And it's not because there's anything wrong with the dealers or because the dealers are doing anything wrong. It's because the people you're describing simply refuse to believe the dealer. Instead, they see the dealer as someone who is lying to them, or trying to take advantage of them. And they see the dealer in that light because of their own mistaken beliefs. And they absolutely do not want to believe that they are the ones who are wrong ! At the same time, I understand the people's (customer's) point of view too. They believe "what" they believe because of what they have read or found on the internet or in a book or magazine someplace, or what they have by somebody else. The problem is these people or customers do not have the requisite knowledge to truly understand what they read or were told. In other words the problem is ignorance, it's just that simple - ignorance, the lack of knowledge. And the exact same kind of things happen right here on this forum on a daily basis - an hourly basis at times ! People come here looking for answers and/or information, but they quite often simply do not want to believe what they are being told. And it's almost always because they don't understand. But I'll grant you there are also times they refuse to believe it because it's just not what they want to hear. One last observation - what I call the frustration factor. And it also applies to dealers and knowledgeable members of this forum, as well as others like it. So what's the frustration factor and what causes it ? Well, if you looked up and read all the threads that have ever been posted here that asked questions similar to what do you like or dislike about coin dealers ? One of the things that would be very close to the top of dislikes in all those threads would be - they ignore me or try to ignore me. I walk in, start to look around and nobody greets me. I ask to look at something and they act like it's the biggest pain in the world for them let me look at something. This same message is repeated over and over again and it has been for as long as I've been participating on coin forums. And I've been participating on coin forums for as long as they have existed. So why does this same thing happen so often ? Because of the frustration factor. Coin dealers, and members of this forum get frustrated because they hear and see the same thing day after day after day. The undergo the same or similar experience day after day. And eventually it wears on ya, it has an effect on you. Sure, you'll still try and help, but when they react to you the same way time after time - and it's rarely in a good way - well, something will usually change. And it's usually in the dealer's or member's initial interaction with the customers/people. An attitude kind of develops like - why should I bother ? And when you bother anyway and they come back at you with an attitude of their own or trying to argue - well, that's a hard thing to deal with, even the best of us can be and often are affected in a negative way. To the customers/people what they see is - hey, this guys a bad guy, he's a jerk, he's rude, a know it all, he doesn't want to help me, he doesn't care about me, all he wants to do is take advantage of me. To the dealers and knowledgeable members what they see is - this guys an idiot, he won't listen to reason, oh no here we go again my coin's worth a fortune and I can buy a new car or retire next week, or I don't know if I can take another one of these. The sad part is, most of the time the parties on both sides are good, decent people. But when ignorance and frustration enter the picture - well you know the rest. And yeah, there really are bad dealers out there trying to take advantage, and yeah, there really are rude people and jerks and idiots out there. The world is full of good people with plenty of bad ones to go around too. But if we as individuals try and exercise a little understanding, try and see things from the other guy's point of view, well ya never know the world just night turn out to be a little better place. Like I said, just an observation.
You make some excellent points. I never really thought about it from the point of a frustrated dealer. We have a coin shop that has a reputation for being unfriendly, and this might be why. I think I'll give it another chance.
It takes a certain personality to work in the service/customer relations industry. Imagine what waiters/waitresses have to deal with. I imagine that coin dealers see the same level of stupid/rude/etc. that waiters do. If that makes you grumpy then maybe you aren't cut out for that line of work. Leaving my house and having to "deal" with other humans makes me grumpy so I minimize situations that require interaction. It is pleasant though to go into a dealer's shop and have him show a lot of enthusiasm. I went into a shop in Albuquerque ("Albuquerque Coins" on San Mateo). I had a lot of fun talking with him about what I was looking for and wanted to sell. Very lively and genuinely interested. No way in hell I could be that friendly...lol.
I really do love my job, enjoy meeting the people, and am thrilled at never knowing what is coming in the door next but I hate the feeling that I have to tell these folks they are wrong or have been misled by the internet or the guy next door. I feel like I am stepping on a bug that really doesn't want to be stepped on. I am sure many leave thinking I was trying to rip them off and I honestly try to be fair with everyone but I learned quickly you can be too fair, for one reason or another, and now your stuck with a lemon you shouldn't have paid so much for. It was really strange standing on the other side of the counter after being a collector all my life and it has taken some adapting. The ones that really hurt the most are those folks who bought from a TV shopping network or junk out of a magazine as they cannot ever get their money back on modern day junk that has been dressed up in a nice display case or a bunch of worn out low grade coins that have been promoted as valuable and rare. I see low grade Buffalo Nickels (worth about 65 cents) that were purchased in fancy packaging for $19.95 a month for two coins and I literally hate breaking the news to them. I tell everyone if you want to collect find a coin shop or reputable dealer, visit him and build a relationship and he/she will make every effort to take care of you and your collecting habits. I have a bunch of new friends, collectors and enjoy talking with them whether they are in a buying or selling mood. They understand my need to make a profit to keep the doors open and I understand their needs and as long as we meet in the middle they will always be back to keep me company.
Sorry @twoshadows I tried to 'like' this more than once. System would allow it I ran my saltwater reef aquarium business with the same business model. Paid dividends in lots of friendships, favorable word of mouth, and lots of repeat customers. Kudos to you and best of luck in your endeavors.
GDJMSP: Excellent and so true. How many times on the Pawn Stars cable show when the seller doesn't receive the "high value" his item deserves based on the "expert" that was called in to view the item do they feel it was erroneous, wrong, incorrect, or just a lack of knowledge... Yes, I know, it's scripted TV, but it sure follows the "frustration factor".
Ten years ago I retired and looking for a decent hobby (indoors), decided to start collecting Lincoln cents. So I went to the library, got some books on coins and read them. Then I started collecting them, opting for "my budget" coins and then upgrading them when I could afford it. At no time did I consider coin collecting as an investment, but as history that can be passed on to my daughters. If you put in the time and effort, it is fairly easy to rough grade Lincoln cents. I also learned at an early stage to stay away from "error" coins as they can drive you nuts. It's great to see many serious collectors on this blog and I enjoy the banter. What is a little frustrating are the rank amateurs who don't put in the time or effort before posting their common and "of little value" coins and asking for free help without doing any investigating on their own. Just venting. Enjoy the blog for the most part.
