Are Coin Dealers Crooks? How To Handle A Coin Dealer – How To Act In A Coin Shop

Are coin dealers crooks? I venture to say there’s crooks in every business, and anyone can be a jerk. I just think most coin dealers are wrongfully accused of being a crook. I base the opinion on the fact that some people are just jerks with dealers expecting them to be crooks, and because they have over-valued their own coins, or paid too much for their coins and think the dealer is trying to rob them.

Watch my other videos on this subject linked below:

How Much Should A Coin Dealer Make?

How To Deal With A Coin Dealer

Wholesale Retail Coin Dealer

Insider Coin Dealer Secrets Part 1

Insider Coin Dealer Secrets Part 2

13 thoughts on “Are Coin Dealers Crooks? How To Handle A Coin Dealer – How To Act In A Coin Shop

  1. I need your help. I just pulled 3 pennies from grandfathers hoard of 5,000. All the same year in rolls new from the bank in the 50s. All three of these pennies graded ms67 from NGC. I don’t want to kill the market. Do you suggest I only have a few graded at a time? NGC only shows 31 graded this high and one higher. I’m not trying to corner the penny market. What would you do? Thank you for any input you can give.

  2. Very thoughtful treatment of this subject. I'm a "vest-pocket dealer" on weekends at a local swap meet – and have consistantly listened to complaints from my customers about the "crooks" at the only brick-and-morter coin shop in our small city. I dropped into that shop today for the first time in years to pick up some odd-size air-tites, and watched them at work for about an hour. They worked diligently trying to educate several walk-in customers on grades and values – and I noted that their buying and selling prices were very fair, with a reasonable margin. I departed the shop with much less cash and more coins than I entered with. I will never again listen to complaints about "the crooks" without voicing my opinion!

  3. Hi Daniel,thank you for some info,I'm collecting old coin and I have a lot already,different years,I want to sell it,Daniel it should be upgraded or circulated,can u help me,I'm from long beach,do u know some coin shop close to my area,pawnshops,antiques shop,those buying old coin,thank you very much I appreciate it,my # 5622214479

  4. The biggest Crooks I know is Alhambra coin Center on Main Street, do not trust them at all, they know how to rip you off

  5. My coin dealer has to order in just about anything Newer that I'm looking for, or collecting supplies and he's basically buying it online at the price I could be buying at online myself so I pay his 30+% markup if I go with him on anything, and most of the time he doesn't order what I'm looking for and a week later he doesn't have it still and I'm told maybe next week.

    I don't go there anymore and just buy what I want online. That's the reality of it. If I get a vibe that a dealer doesn't care of they make money or not then I will just do my business elsewhere. They guy makes it hard to walk in and spend a couple hundred bucks and get out. I'd be still waiting for a national parks quarter album from him if I didn't give up on it 3 months ago. Just poor customer service. I don't expect my butt kissed for a couple hundred bucks but I do expect some level of service from a place when I'm trying to spend $500 a month on stuff he should have just sitting around. It's not like I'm walking in asking for pristine 1909S VDB cents (which he also wouldn't have) nothing I'm looking for is extremely difficult to find he just doesn't want to do business I guess and would rather hang out all day with the retirement crew that's always there hanging around drinking coffee and reading the paper . There's all kinds of dealers out there, I'm sure there are some good ones but as a collector if you come across bad ones it gets you set that that's how they all run their business.

    I went to a mechanic and the owner of the small shop preferred to watch a video on his computer and make me wait 10 minutes for it to finish before he'd ask what I was even there for. I waited gave him a hard time with a bunch of questions just to waste his time in return then went to a different mechanic shop.

    Some business owners need to realize they are doing business, not doing people favors. Customers can go somewhere else. I'd like to have a local coin shop to go to and purchase what I want, but it's like some people don't even want to be in business and I'm not gonna beg someone to take my money. Lol end of rant.

  6. You touched on this and I think its a real factor in a lot of the " theyre crooks" opinion. MY EXPERIENCE has been that I cant think of another collectable item where the "dealers" come off as miserable, egotisticle, uninterested, or are just plain D#"K H#@&S as any other type of collectable or bussiness IVE had experience with. With that said, I can totally understand why that might be, having some experience with them. That demeanor is USUALLY softened pretty quick if you show them your there to do business. But to the newcomer or someone with less experience, I cant understand how MORE dont walk out the door. The attitudes may be justified but dont do them any favors. Thats just MY experience with MANY but not all and is not meant to offend anyone. Great video Dan!!!! Thanks!!!!

  7. One coin dealer near me likes people to call in advance so they can be prepared to bring inventory from the back to sell. They are very busy and one of the largest bullion dealers on the East Coast. Also calling them lets you know they'll pay for bullion. If you get to know a coin dealer they'll allow you to pay by personal check.

  8. Thanks again Dan the Man! Your integrity is obvious and I so appreciate it, your Pop must be proud! Keep it up pal! 👍

  9. I've been to many shops in a 300 -500 mile radius. I have found some very good and honest ones and some that rip people off.. every shop is different there's good and bad ones.. you just have to shop around and look at the reviews for an idea of what they're like, but I have one in town and puts fake reviews to get people to come and they are the worst ones in town..

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