gxseries Posted October 8, 2005 Report Share Posted October 8, 2005 Here is a question that I did ask Matt earlier on, which could be quite tricky. I think it might need some serious figures to account for this question though. Recently, due to the oil price striking high and inflation rising as well, chances are that people are "suffering" due to the inflation. The main question is, do people start to hoard or dump coins, other than gold? I assume quite a fair bit of people will buy gold coins or bullions because of the inflation scare... but I have no idea what happens to the other areas... like silver, copper and platinum, etc. Maybe someone else can spectuate what happens? Often when inflation hits, you know it's just bad for business and everyone else. But how about coin businesses? Or will there be no effect? What do you think? Link to comment Share on other sites More sharing options...
Tiffibunny Posted October 8, 2005 Report Share Posted October 8, 2005 I have deleted a bunch of posts from this thread that seem to be of a rude and personal nature. Come on now, we don't do that here guys. Jeesh, go to one family thing... Link to comment Share on other sites More sharing options...
Burks Posted October 8, 2005 Report Share Posted October 8, 2005 Do you actually interact with your customers? More like, do you go to them or wait for them to go to you for help? Link to comment Share on other sites More sharing options...
Sir Sisu Posted October 8, 2005 Report Share Posted October 8, 2005 Are you a "purist" with what you sell, or do you also have misc coin kitch? coin paper weights, coin tie clips, etc etc? Link to comment Share on other sites More sharing options...
LostDutchman Posted October 8, 2005 Author Report Share Posted October 8, 2005 Here is a question that I did ask Matt earlier on, which could be quite tricky. I think it might need some serious figures to account for this question though. Recently, due to the oil price striking high and inflation rising as well, chances are that people are "suffering" due to the inflation. The main question is, do people start to hoard or dump coins, other than gold? I assume quite a fair bit of people will buy gold coins or bullions because of the inflation scare... but I have no idea what happens to the other areas... like silver, copper and platinum, etc. Maybe someone else can spectuate what happens? Often when inflation hits, you know it's just bad for business and everyone else. But how about coin businesses? Or will there be no effect? What do you think? It's great for business. People don't hoard coins because they aren't made of anything that matters. In times past they might have done so with silver and gold coins but today there isn't really any sense to it. I have been buying coins like crazy lately and I can always sell something If I choose to. If people need money they might just turn that old box of dusty coins into some cash. The oil market lately has been kinda messed up and investors have been in oil...but after it topped out at $3+ they brought their money back and put it back into an old trusted friend gold and silver. Link to comment Share on other sites More sharing options...
LostDutchman Posted October 8, 2005 Author Report Share Posted October 8, 2005 Do you actually interact with your customers? More like, do you go to them or wait for them to go to you for help? If they want to learn I try to teach them. Sometimes if I am not showing at a show I will meet up with them and we will shop together. It's a lot of fun. Link to comment Share on other sites More sharing options...
LostDutchman Posted October 8, 2005 Author Report Share Posted October 8, 2005 Are you a "purist" with what you sell, or do you also have misc coin kitch? coin paper weights, coin tie clips, etc etc? I sell whatever people bring in the door...if they happen to bring in a paper weight I will sell it. Link to comment Share on other sites More sharing options...
Guest Stujoe Posted October 8, 2005 Report Share Posted October 8, 2005 Jeesh, go to one family thing... <{POST_SNAPBACK}> That will teach you to leave us on our own for that long! Link to comment Share on other sites More sharing options...
Guest Stujoe Posted October 8, 2005 Report Share Posted October 8, 2005 When you become a dealer, do you automatically get the secret decoder ring that enables you to translate the codes on the back of coin holders? Link to comment Share on other sites More sharing options...
LostDutchman Posted October 8, 2005 Author Report Share Posted October 8, 2005 When you become a dealer, do you automatically get the secret decoder ring that enables you to translate the codes on the back of coin holders? haha! Yeah sort of...each dealer has a specefic code...it's pretty easy. The one the former owner here used was this the letters represented what he paid for the coins his was this the letter "C" was zero and it went up from there...they are pretty simple Link to comment Share on other sites More sharing options...
banivechi Posted October 8, 2005 Report Share Posted October 8, 2005 How much time per day you spent on your shop? Link to comment Share on other sites More sharing options...
LostDutchman Posted October 8, 2005 Author Report Share Posted October 8, 2005 Some days I work from 9-5 (or later) at the shop and work till midnight or so at home....I am married to my shop Link to comment Share on other sites More sharing options...
gxseries Posted October 8, 2005 Report Share Posted October 8, 2005 Speaking about marrying to your shop, what happens if you ever get married to a woman? Of course, you will take some time off for the marriage etc, but that's miminum. Are you expecting some future "disruptions" with the business if you ever get married? Link to comment Share on other sites More sharing options...
grivna1726 Posted October 8, 2005 Report Share Posted October 8, 2005 I have been collecting coins for 15 years and dealing since I was 16. What do you do if a killer coin comes in the door? Do you keep it for your own collection, or do you offer it to your customers? Link to comment Share on other sites More sharing options...
LostDutchman Posted October 8, 2005 Author Report Share Posted October 8, 2005 Speaking about marrying to your shop, what happens if you ever get married to a woman? Of course, you will take some time off for the marriage etc, but that's miminum. Are you expecting some future "disruptions" with the business if you ever get married? Autitually my girlfriend really likes the shop and she would prob work with me..... Link to comment Share on other sites More sharing options...
LostDutchman Posted October 8, 2005 Author Report Share Posted October 8, 2005 What do you do if a killer coin comes in the door? Do you keep it for your own collection, or do you offer it to your customers? It really depends on how bad I need money and how much it is. Most times i really can't afford to keep the monsters.....but sometimes I do Link to comment Share on other sites More sharing options...
grivna1726 Posted October 8, 2005 Report Share Posted October 8, 2005 Thanks for your reply. At one time, I thought I might want to become a dealer. But I think I would have to deal in things I don't collect because otherwise I couldn't part with the nice stuff. That would probably put me out of business before long. So I'd have to collect what interests me but not deal in it. For example, maybe collect ancients, but deal only in modern coins. Link to comment Share on other sites More sharing options...
daggit Posted October 9, 2005 Report Share Posted October 9, 2005 I have deleted a bunch of posts from this thread that seem to be of a rude and personal nature. Come on now, we don't do that here guys. Jeesh, go to one family thing... Link to comment Share on other sites More sharing options...
LostDutchman Posted October 9, 2005 Author Report Share Posted October 9, 2005 Thanks for your reply. At one time, I thought I might want to become a dealer. But I think I would have to deal in things I don't collect because otherwise I couldn't part with the nice stuff. That would probably put me out of business before long. So I'd have to collect what interests me but not deal in it. For example, maybe collect ancients, but deal only in modern coins. Most of the time it is not easy....I love coins. To me they are the most intresting things out there especally the super rare ones..I do have a small collection of some major pieces...but if need be I will sell those too...it's the old kid in a candy shop idea. I am glad that I get to do what I like every day but there is a lot of things that go into it. I have to make enough money to keep the shop open, bills paid, and maybe get some for me let alone having the capital available when "the big one" walks through the door...there are a lot of things that go into making the wheels of our hobby turn. Link to comment Share on other sites More sharing options...
Guest Stujoe Posted October 9, 2005 Report Share Posted October 9, 2005 That is one thing that came up in a recent thread about whether anyone wanted to be a dealer...how difficult it would be to mesh it with your collecting habbits. I don't think I could do it. Link to comment Share on other sites More sharing options...
leepei Posted October 10, 2005 Report Share Posted October 10, 2005 I have a Peter McAusland token a private token from Newfoundland Canada. Wondering if you know of any collectors of rare private tokens. Link to comment Share on other sites More sharing options...
LostDutchman Posted October 10, 2005 Author Report Share Posted October 10, 2005 I have a Peter McAusland token a private token from Newfoundland Canada. Wondering if you know of any collectors of rare private tokens. I don't know any personally but I will ask around...I see my wholesaler tommorow I will ask if he knows anyone Link to comment Share on other sites More sharing options...
2coins Posted October 10, 2005 Report Share Posted October 10, 2005 Very interesting tread,As someone mentioned about the ole mom& pop type stores, i was sick and tired of going into some coin shops and getting DOWN graded 2 grades, and them saying CLEANED coins and GREYSHEET the crap out of ya!!!but the funny thing is that I had bought the coin from them a year and a half prior!!! at 2 grades higher with original finnish in the original 2x2!!,when I mentioned that to him he just said, Sorry, I could give you $5.00 more.I didnt sell it,I was curious and made a point to myself, Alot of dealers are crooks!!plain & simple, Ive been lookin for a out-right straight up dealer that will say all the facts,even if he says hes going to make some money on the coin, thats fine! Just be straight and dont clean peoples clock to bad and things will be fine (REPUTATION!) Link to comment Share on other sites More sharing options...
Burks Posted October 10, 2005 Report Share Posted October 10, 2005 What is your best estimate of the number of coins you have for sale at any given time? Bills? Link to comment Share on other sites More sharing options...
LostDutchman Posted October 10, 2005 Author Report Share Posted October 10, 2005 Very interesting tread,As someone mentioned about the ole mom& pop type stores, i was sick and tired of going into some coin shops and getting DOWN graded 2 grades, and them saying CLEANED coins and GREYSHEET the crap out of ya!!!but the funny thing is that I had bought the coin from them a year and a half prior!!! at 2 grades higher with original finnish in the original 2x2!!,when I mentioned that to him he just said, Sorry, I could give you $5.00 more.I didnt sell it,I was curious and made a point to myself, Alot of dealers are crooks!!plain & simple, Ive been lookin for a out-right straight up dealer that will say all the facts,even if he says hes going to make some money on the coin, thats fine! Just be straight and dont clean peoples clock to bad and things will be fine (REPUTATION!) Mike I agree with and have experienced a lot of that. Link to comment Share on other sites More sharing options...
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