Realcent.org

I went to a local collectables place I haven't been to before. They sell coins, baseball cards, jerseys, jewelry etc. I was looking around and he had a bunch of state coins sets and graded coins. I ask him about 1 oz rounds and bars and he gives me the junk drawer christmas, thanksgiving, tarnished, and dented. After looking at them for a bit I told him the holiday ones weren't really my thing, do you have any other ones I can look at. He then tells me 1 oz silver is 1oz silver and he doesn't feel like getting them out. The worst part is he was very friendly when I walked in, very chatty and told me he sells silver for almost spot. Today was 34. I was polite and cordial the whole time, even said thank you when I left. There was only 1 other customer there so not very busy, just don't understand why he would treat a paying customer or even potential customer like that.

(i can't comment on anything other than my own life experience.) from my experience, i have found that coin & jewelry dealers that maintain a business are not in the business to appease the customer, and actually in most cases they want to rip the customer off. Generally this industry affords only crooks, liars, and cheats who would knock their mother in the head for $0.10, of course some of us are the exception. Point is there are VERY FEW honest folks in this business. From my experience, these dealers are expecting you to steal from them. He was testing you with the 1st box of dented messed up stuff, he probably figured if you were there to make an investment on silver you would buy several of his messed up ones......and then ask to see more,,,,,,my guess is after you have understood that he sells silver for near spot, you ask for better stuff, well, silver is silver is silver is silver. You didn't buy what he showed you, he thought 1st...you were trying to take advantage of him, holding him to the price he quoted you (he probably baits you with the "cheap" cost, but only for the crap bullion, the nicer stuff is probably more expensive.....2nd, he may have thought you were a thief, and waiting for him to pull out more silver so you can rob him........In any circumstance, this type of thing happens to me all the time, I wouldn't worry about it, it comes with the territory. I would continue to patronize him, and just buy whatever silver you can buy at the low price, that is unless you want to pay more $$$ for exactly the same value of metal, but without santa or whatever.....just shrug it off. Believe me, I have been in this industry over 24 years, all my honesty has gotten me nowhere.
______________________________________________________

A local dealer used to sell me his scrap sterling jewelry he bought from the public, until I discovered a 48 gram 18kt white gold necklace in the sterling box, and at that time I could have bought it as sterling for $20.00 per ounce, but my honest self tried to do the right thing, I told the owner, he then said for my honesty he would sell me any sterling I chose that day for $1.00 less per ounce. After that day, he never let me or anyone else look through his silver scrap again. I no longer patronize this establishment, nor do I recommend this place to anyone...

just thought I would give my 2 cents for what it is worth. peace.

I appreciate the reply and was planning on stopping in again even if just to buy a few air tites here and there. There aren't very many local places outside of pawn shops that deal with silver and gold so was really just trying to find a place to go and have someplace to spend when I have the extra cash.

jesse1111 wrote:There aren't very many local places outside of pawn shops that deal with silver and gold so was really just trying to find a place to go and have someplace to spend when I have the extra cash.

I've got great news.... you've found that place. Welcome to RealCent.

You will also find that there are so many honest folks on this site that we are negotiating with each other exactly when a deal is a deal in another thread. You can often find gold and silver just below, near melt, or just over right here everyday. Watch the Buy it Now section - deal with some of the local heavy hitters - and you will not be disappointed.

Thanks I'll take a look.

Unforunately, there are A LOT of coin dealers, jewelry shops and pawn shops that rip people off on purpose. It is extremely hard to find a good, honest and reputable dealer.I just started using APMEX for my purchases - this will now be the norm so I can avoid dealing with corrupt coin dealers and their crooked sales associates. I got tired of the dishonesty and underbidding when I would sell 90% for 1oz coins. I completely understand that dealers need to make money to support themselves and their families, but when I go to sell $1000 worth of 90% and the dealer pays $800 for it, I find that to be extremely dishonest. Theres only one shop that I would recommend, however there is 1 person I would tell you to avoid while you're in there due to potential rip offs by him.

njoElec wrote:...when I go to sell $1000 worth of 90% and the dealer pays $800 for it, I find that to be extremely dishonest.

Same here, but my local shops are paying closer to 66% of spot. I don't mind giving them a margin, but that's just TOO much.

njoElec wrote:... but when I go to sell $1000 worth of 90% and the dealer pays $800 for it, I find that to be extremely dishonest.

I don't think that can be characterized as dishonest. This guy will tell you all day long about how he needs to pay the rent on his shop, etc, etc. He just needs to deal with sheeple. He doesn't really want an informed individual to show up. Too many informed individuals would kill his cash cow.

tractorman wrote:

njoElec wrote:... but when I go to sell $1000 worth of 90% and the dealer pays $800 for it, I find that to be extremely dishonest.

I don't think that can be characterized as dishonest. This guy will tell you all day long about how he needs to pay the rent on his shop, etc, etc. He just needs to deal with sheeple. He doesn't really want an informed individual to show up. Too many informed individuals would kill his cash cow.

This is why I generally prefer to play dumb in most situations. Hey, it comes natural to me.

I go to a coin shop up the road from were I work. I have purchased some silver but not a lot, lets just say they are not scared when it comes to charging a premium for their wares. Also in Minnesota there is state sales tax to take into consideration when buying bullion, so I acquire most of my bullion from members of this site plus two others I belong to. I purchase mostly coin supplies (i.e. flips, air tites, tubes...) from this coin shop. Now I know I am not a big money spender to them, not even when I was purchasing some silver. But these three gentlemen are about the most unfriendly group I have experienced. It's not just me I have seen them deal with other patrons as well. I can't put my finger on it. I just cringe when I have a need to go in to that shop. Maybe the solution is to find another shop, possibly.

Tell us your story as if the whole experience was the best that it could have been

Market Harmony wrote:Tell us your story as if the whole experience was the best that it could have been

OK. I like to screw with dealers. I like to go in with $1000 worth of stuff that he would REALLY like to get for $500. I make him think we're gonna strike a deal, then I let him know that I can easily find someone who will be happy making $100 off me rather than $500. I like to laugh at them and make fun of them. He needs to pay his rent, but I don't need to pay his rent. It is best when there are others in the shop to hear it!!

I hear ya. It seems like whenever I visit a dealer, they don't have any real interest in answering questions or helping me a lot. Not sure why this is, but maybe its the business itself? Maybe I'll just buy from coin shows and see what kind of deals I can get there....or perhaps here on Realcent?

It's funny . . . It seems that nearly all the dealers at coin shows are friendly & helpful, but a lot of the B&M dealers are a$$holes . . .
Wonder why that is ? ! ? !

HH