Post your bad coin shop expierence's!

Havn't seen one of these threads in a while, don't know why since they're really fun. I'll start with mine, My first bad expierence with a coin shop was actually my first time I ever set foot in one! I was intrested in buying a *Peace Dollar and a a Walking Liberty Half. So I specifically asked the guy who worked there if he had a Peace and a W.L. in AU condition, both coins looked really great, all shiny and everything, almost could see my "polished reflection" you might say. Well I happily paid for them and left. For the next 2 weeks I visited the same shop and picked up 3 more Peace's. As days went on I learned more about grading, and spotting cleaned coins, well turns out the 5*coins I bought from that shop were all heavily heavily polished. I like the way he told me to hold them by the edges so I wouldn't ruin its "luster" I have never returned to them, and have since traded that overpriced junk silver into mercury dime junk silver at a different shop. I know some of you will say it's my fault for not knowing, well I agree it was, but it doesn't change the fact that he completely lied to my face and ripped me off several times. Any of you have stories?

 

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what town?

So I can avoid that dump.

 

I live in Southern California, im not sure it would be right to name the shop here.

 

Southern California is loaded with questionable coin shops and "We Buy Gold" outlets.

BASIC RULE: What you NEVER do is walk into a coin shop alone! Always go with someone who either knows the owner, the territory or has a working knowledge of coins.

If you can't find someone else to go with, nothing wrong with going into a coin shop and just listening to the interaction between the guy/gal behind the counter and another customer. Never do a purchase on your first visit.

Even better, come to this site and read as many posts as you can. You can't help but become more informed!

 

If this shop is in Orange County, I bet I could name the exact shop in which you had this terrible experience...

But I must add that it probably would have been best to "know you stuff" before making any coin purchase...
But I guess on the other, you could say that you should be able to trust the dealer in which you're purchasing these coins from. :foot-mouth:

 

I agree but I just got so happy going to a shop for the first time that I ended up literally paying for my mistakes. (5 times to be exact)

 

Hi Brian I am a fan of your youtube videos. And unfortunatly I don't live in the O.C. I live like 15 miles away from there

 

Ohh, thanks! Appreciate the support. It's always nice to see my followers here!

And sorry to hear about your situation. If you're ever in the OC area, I could give the coordinates to some shops where the dealers are honest and know their stuff - Including the one in which I work!

 

That sounds really cool! Did you go to the long beach show this past september?

 

Sure did! We set up there at table #658.

If you have any more questions, we can continue the convo via Private Message. I'd rather not get too off topic in this thread.

 

Any more stories?

 

ive been going to my local flea market my entire life, theres an old man coin dealer there who when i started buying coin/bullion i always bought from him, every week for several years. he is just an awesome guy mid 80's wwII vet. either way, i started setting up at a different flea market and he would visit my father and i (i was setting up with my father), i would visit him. one weekend he called us to inform us he had a graded 1 oz gold eagle stolen. we kept an eye out for it at our flea market, checked ebay and around town. he has cameras because he had been stolen from before and one day when i visit him like usual (a few weeks after the theft) the people across from him apparently called the cops on me, had me shoved against a wall and hand cuffed (my only interaction with law enforcement was 13 years ago when i was 17 and got a speeding ticket). i had no idea what was happening, my girl friend was crying, the dealer gave me a puzzled look then i was walked outside. after answering questions for a few minutes the coin dealer comes out and tells the sheriff i wasn't the guy, so i realized what happened. come to find out he took a still photo from his video of the guy who stole the coin, looks identical to me minus different facial hair. that was the only way i knew it wasnt me in the photo, and he had a plain white t shirt which i dont own one. but ever since then, even though the dealer and myself have tried offering the people who called the police proof i wasn't the thief they harass me every time i went to see him after that incident. sooo sad to say i only get visits from him now days. so i wasn't ripped off or bought cleaned coins but because of some ignorant people i can't visit my favorite coin dealer who taught me most of what i know

 

Wow, it's amazing what a few sour apples can do to a friendship. Hopefully the thief gets a nice permanent incuse design struck on his hands

 

i live in a tourist town, so i am assuming the thief was one of them. i also sold/bought from another person in the same flea market 50 feet from this gentleman. i have to admit, i would have called the police as well, the thief is insanely similar physically to me in this photo, i just wish there was a second photo that WAS me so people can tell the difference. but the friendship is intact still, i moved a couple states away 6 months ago but in that same time my father opened up a store (in an actual building and not a flea market), and like before without fail he shows up every thursday there so i call every thursday and talk to him for a few. he did feel so bad for my girlfriend though he gave her an au shield nickel/ an unc texas comm. and another commemorative. again, he is just a cool old guy. i just got lucky meeting a dealer who i meshed well with and him with me. right before i moved away i bought a third pocket coin from him just cause i don't know when ill be back to visit him.

 

Very nice, I have less than a year of numismatics under my belt, I have yet to attend a flea market in many years, so hopefully I too can meet a great dealer like that. Heck I havn't even met another coin collector in real life excluding coin shops and expo's

 

actually, intill i started setting up i never did as well. not to many people do it, especialy at my age when i started (24). one thing i realised was almost every town has a coin group, perhaps you should look into your town. most have auctions where you can get good deals, sometimes they have speakers talking about a particular type of coin. the main thing i have learned is knowledge is the key to collecting. being able to grade ms grades especially since they can make a huge difference. i am still not that great at grading copper coins myself but thats what my girlfriend is for. she is 1891 and earlier, im 1892 and after with the exception of morgans.

 

Here is a experience I had.

I collect a little bit of stamps on the side so I visited a stamp convention recently. Some dealers carry coins too and I spotted one. After looking through an album which was only decent. I handed the album back to him and he retorted by asking me why I didn't find anything. What is the point in asking a question like that? and then he asked me if I was interested in slabbed coins which I said "depends on what year" He retorts again saying if I really wanted to buy or if I'm going to waste his time. After looking at a total of 2 graded Morgans which he had, I turned and walked away.

 

What is this...the OC thread?? I love it!! I've lived in O.C. my entire life, and have come across all sorts of dealers. I agree that the "We buy gold places" are all over, especially in my part of O.C. where these is abundant retirement communities. The bottom line is they have to pay thousands in rent a month... and who's gonna pay for it?? The people that sells them stuff.

Years ago I had one dealer locally try to flat out rip me off. Its a "coin shop" and listed as such, but when you walk in, its a bunch of empty showcases. This was back before I knew much of anything regarding coins and jewelry. I had my late mothers tennis bracelet. It has over 7 carats of vs2 or better quality diamonds. The big hairy fat guy, mumbles something, takes it from me and throws it on a scale behind a counter that noone can see.

He says "You got 20 pennyweights, how much you want for it??"

I told him "I was hoping you'd tell me what it was worth and what you'd be willing to pay"

He says "I don't work that way, figure out what you want for it and come back if you want"

At the time I had no clue what pennyweights were, and didn't want to ask him. Luckily I didnt need the money at the time and just threw it back into the safe deposit box. Years later, I found myself needing money... not desperately but to make some improvements on the house. I met a great dealer who I took it to, (by then I knew exactly what it was worth and what I could sell it for) I took it to him and about 4 other dealers. What sealed the deal was when I told him who I took it to before him, he told me within $20 +/- what I was offered by the others. He works on a thinner margin, and at times his little shop is packed. People come by just to hang out and shoot the bull. He paid me about $60 more than the highest offer. Years later he's still my go to guy. He sells the cheapest and buys the highest of anyone I know.

 

most dealers i know that actually buy scrap don't care about diamonds and usually cut them off in front of you and offer you them back.

 

I can think of tons of great experiences I've had with coin shops here in Southern California, but very few bad experiences. The bad were more of an overpricing/underpaying for silver but never had a dealer at a shop here try to lie to me or sell me garbage/cleaned coins as problem free. I have to admit, I don't go to pawn shops looking for coins or Cash for gold places so that could be it. If you are near the San Gabriel Valley, San Fernando Valley there are several reputable dealers that have been in business for years and are generally great to deal with.