Huge Mistakes People Make at the Coin Shop - Coin Shop Etiquette 101
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- Опубліковано 1 вер 2023
- In this video I talk to Harry about mistakes people make at the coin shop and poor coin shop etiquette. This coin shop etiquette video will help new silver stackers and coin collectors navigate their local coin shop with ease. We talk about proper handling of coins and what may be inappropriate or off limits in a coin shop. If you are wanting to start purchasing silver or gold at a coin shop and you want some coin shop tips then this is the video for you. Some of the coin shop mistakes that we talk about are ones that even I have committed in the past. I hope that this video will be a helpful tool. The most important thing is getting to know your coin dealer or bullion dealer and becoming friends with them. If you are able to befriend a coin shop owner this can help you get better deals on silver and gold. Feel free to check out the other videos filmed at Harry's Coin Shop:
Harry's Coin Shop Videos:
• Harry's Coin Shop
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Topics I cover in this video: coin shop mistakes, coin shop etiquette, coin shop, mistakes at a coin shop, coin shop tips, coin dealer, bullion dealer, local coin shop, coin store, coin shop owner, coin shop etiquette 101, coin shop 101, coin shops, coin shops 101, how to handle coins, coins, coin, rare coins, silver coins, gold coins, huge coins shop mistakes, silver mistakes, gold mistakes, coin mistakes, how to act at a coin shop, how to behave at a coin shop, coin shop coins, coins at a coin shop, harry's coin shop, silver price, silver investing, silver stacking, silver and gold
#silver #gold #coins
One day many years ago I took my daughter to a coin shop and the man selling the coins took a liking to her . She would ask me to take her there every week when she got her allowance . she would go and look at all the old coins and spend her money trying to build her own little collection . I then started buying gold jewelry for my self , my wife and my children . Then one day when we came to the shop we learned that the man had passed away . We were very sad to hear the news as we had lost a good friend . When he could he gave discounts on some items that we had bought from him , he had a soft spot in his heart for our family . The man s son took over the shop and his was just as warm and kind , just like his dad . After the father had passed away he did something so special and kind , left me , my wife and my children a gold ring with a note . Thank you for your years of supporting our store .
That's awesome. Thank you for sharing that.
"We use it as a teachable moment, not to scold"
I love these guys. The owner is the coolest.
Children, customers of future.
I totally agree
Imagine how lovely society would be if everyone had the approach of just being polite and saying please and thank you!!
I don't have to imagine. It used to be that way.
The BIGGEST "mistake" is selling things to a coin shop, especially vintage currency, and like pawnshops, a coin shop is a place to buy, not to sell....
“It’s ok to be mad, just don’t be mad at me”…
PRICELESS!!!
this advice is also valid for card, comic and sports collector stores.
true that 👊🏽🔥🐉
Sweet. Good to know. Thanks guys.
Having never been in a coin shop, I really appreciate this video. It'll help keep me from accidentally doing something I shouldn't.
As a former coin dealer I can relate to everything said here and the way these guys operate they deserve all the success this industry has to offer. It is a difficult business to make financially viable and I had to change careers and give up what I enjoyed. The online aspect and dishonest people I dealt with was the reason I got out of the business.
Hello, sir.
I was wondering if you might be able to educate me a bit as I have some interest in potentially becoming a coin dealer. I just sort of want some general info about and some personal questions (nothing invasive, though.) Feel free to ignore any questions that you feel are in bad taste or maybe too dicey to answer. I won't be offended.
How did you get into it?
Why did you get out?
Do you regret getting in or out of it?
How long where you in business when did you stop?
If I was Harry I'd be pissed that SD Bullion advertisements were being run while using Harry's Coin Shop as the backdrop. Now that's bad etiquette.
LOL! Harry's prices often beat SD and JM, and his knowledge is priceless. Just saying.
Maybe your'e right. It actually should be the other way around. If I was SD Bullion I'd be pissed that I was paying to sponsor a channel that was in effect advertising Harry's Coin Shop. Instead of people going to SD Bullion to make purchases, they're seeing first hand that Harry's Coin Shop has much better prices than what they offer. And like you said, Harry's extensive knowledge of the coin industry and exemplary customer service is second to none.@@catyronwode
Made me go hmmmmmm. As well
I think Harry likes being associated with SD Bouillon
I was a Manager at a comics and games store and we dealt in collectible cards, and this is basically the exact same as there. My uncle has a coin store and we would often trade stories about people, and it didn't really make a difference what the product was.
Guns too.
I have definitely seen the same in comics and card shops as well.
Exactly. I used to work at a pawn shop... the stories are endless.
Every time I watch one of your videos with the guys, I want to get a plane ticket and fly out there to go shopping. The whole crew is top notch. And I’ve acquired many great pieces from them via What Not.
I'd trade with Harry any day of the week, he seems like a great businessman.
It’s because of you guys I started building a relationship with a coin dealer and it has seriously paid off. Now i get so excited going to the shop and sometimes hanging out there just talking about coins. Thanks Silver Dragons
Me too. Sometimes I go over to My LCs and bring those guys doughnuts in the mornings and just hang out and rap all day.
These guys have the cleanest most organized coin shop I've ever seen!!!
Always make friends with the employees and owners of coin shops.
They possess a wealth of knowledge, far beyond any "Red Book".
Always grateful for these people.
Thank you.
Great video. I have been in the collectable firearms business for nearly 60 years. This video could have been about gun shops. Everything you discussed has happened in my shop and everyone else I know in the business. Well done! Should be mandatory viewing for collectors of all things.
Absolutely the same in comic book, vintage magazine, and card shops, so i am not surprised this is true in collectible firearms as well.
It should be shown in civics class in school
The bad part about this is that not all shop owners are as honest as Harry. There are some dishonest owners out there and I have been to a few different coin shops that do match price as long that you have proof.
what is the point of getting your price matched, as the amount is the same?
why ask for a price match. want you want is a better price. what am i missing
@DrSchor lol. No there not. Some places will have sales. And not all places use the same prices.
@DrSchor because if you go to a place that is higher then another that you seen on-line. They will lower their price to mat ch the on line price.
These videos are always an added plus, such a wholesome interaction combining civility and humor.
i agree with Mr. Harry, a lot of people just don't understand this is a business and they have to make money to be there for you
"A friend to the coin shop" - priceless!!
"The tall guy" is a walking encyclopedia of coins..... I'm definitely new to coins. I've been collecting, stacking, and researching coins for roughly a year.
I love all the info. There's only a handful of channels that are my "go to" for learning. This is one of them.
It is usually the shop that treats the costumer like a child and tries to take advantage of the person almost every time ..
Gentlemen at it's finest! I never asked for a discount at my bullion dealer and wanted some rounds but was sold out so got Britannia's for the same price as rounds since I was a good customer. That's how I like to do business.
My LCS in Fishers Indiana is great! I brought my son in to teach him about silver and to buy his first coin. The staff paid a lot of attention to him, answered all his questions and signed him up for the kids monthly coin club. They also gave him a mercury dime as a gift for joining the kids club. So grateful for guys like the staff at my LCS & Harry’s to mentor people.
I once met Eugene Levy in Vegas in 2005. Such a nice person and the jokes... The hilarity!!! lol
Another great video. My favorite shop gives me a discount if I bring my dog with me into the shop :) I make it a point to go there every week.
Harry's HR skills are A1. Top lads recruited.👍
I’m glad you touched on this subject. Great video. Harry’s is my number 1 place to go. Actually it’s the only place I go for coins, and it’s because of how nice, and respectful all of them are. It’s the main reason I kept going back a few years ago. I was new, not to coins but to silver stacking and I went into Harry’s and they were so nice and made me feel so welcome that I knew from that point on that this would be my coin shop, they do such a good job. I don’t even care to look at other coin shops. I also like to be loyal. Thanks to everyone at Harry’s coin shop. Well done! 👏👍🏻✌🏻🤙🏼
Talking about professional etiquette at Harry's coin shop. When I first started collecting with many visits there, Harry had an older employee than him, who I heard a lot of racist, hateful and bigotted words come out of his mouth. I'm glad that cranky old man no longer works there, he was unpleasant and very uncomfortable to be around.
Speaking of discomfort that drove me away from visiting Harry's coin shop for a year or more after the pandemic; there was a very heavy set customer who came in once in a while and was foul mouthed and openly spoke about the adult entertainment industry, while Harry and a former employee just put up with it, not kicking him out. Harry, being such a nice guy, wasn't being assertive enough to tell him to please stop. He just went along with the customer's bad behavior. I was shocked and I was the only one who stood up and said something. The rude customer apologized, and I'm glad he did.
I sure hope Harry doesn't tolerate that kind of behavior anymore, because seeing that he just tolerated poor behavior for so long, was what drove me away from going back to his shop for a long time.
Also, Adrian needs to work on being a little more polite to customers who aren't as advanced who still have questions.
The last time I visited Harry's coin shop several months ago, he was a new employee I never seen before. I asked him about the abbreviated grade he appraised on a coin I brought in, because the number he gave me didn't sound right.
He explained it to me so it made more sense, but then he immediately shouted across the room to one of his co-workers and to Harry why the abbreviated number grade he appraised was foreign to me. Adrian laughed and pretty much made fun of me in front of other customers and employees.
If I go back to Harry's coin shop and Adrian is still working there, I'd like a sincere apology for the disrespect he showed me, by announcing out loud my misunderstanding, instead of politely explaining to me individually what the abbreviation meant.
It took me a few shop visits, and I finally found the one. Diamond state coins and currency in the very northern tip of Delaware (close to Philly and Jersey). AMAZING store I highly recommend checking them out and even better prices.
We have to support our local shops-they provide a great service to our communities, ya we have good & bad shops but if they go away we’re screwed, margins are thin but there’s always wiggle room if you build that relationship 👍🏼
Hi Jason! I absolutely agree! 😎I've subscribed to your channel! Nice Video Content!
Been a coin collector for 40 yrs ,,the only mistake to make is paying the asking price ,,or if selling his price ,,😮
We Love HARRY and his crew.❤️
As the service writer for a family owned smaller auto shop, I truly respect Harry and his team at their place of business! They just seem like the kindest most caring people.
👍🏻 good job guys
All great points. I was VERY intimidated by the LCS when I first started collecting. It was rooted in ignorance. I think that another good point would be as a buyer or collector, acquire some knowledge about the subject matter before going to the shops. That was my mistake. But I have to say the most important takeaway is building the relationship with your LCS. It is truly incredible the little "deals" you can get. I am just realistic with my expectations. I also arm myself with knowledge as well before I go into the shop. The bottom line is if it's a good shop, you will already be getting a pretty good deal as it is. I really appreciate this video. Thanks
I have never had an interest in coin collecting, but these Gentlemen make me feel as though I am missing out on a hobby I should have taken interest in years ago, love your work guys, and cheers.
Very nice shop and friendly people no pressure environment, great video!
Great video - I will say, price matching absolutely takes place between Target and Walmart, in fact most of the retail industry price matches. Whether your business partakes in price matching is a decision made by your business - but the public majority is accustom to asking. Don't take this personally, instead, consider using that as a learning opportunity to understand how your local market is pricing product.
I wouldn't think it would be a big deal if a customer said (discretely and out of earshot of other customers) that a competing shop was offering a better price and thus, they would not be making a purchase. But it is another thing to demand that they price match. Like they said in their video, they are not twisting anyone's arm to buy and if people can get a better deal elsewhere, they should shop there.
Next time I’m in Portland I’m stopping by this shop. You guys seem like just awesome people and I can use some more silver coins in my collection
They expressed this segment well with the exception of the target and Walmart example, price matching or beating is fairly common amongst retail stores. I don’t consider coin shops to live in that world though, we never know what they are paying for their products as it’s a different market with most things sold second hand or more….
It’s funny because in Australia the big shopping chains like target/Kmart/Bunnings invite you to tell them that the other is cheaper and even offer a 10% discount if the other shop is found to be cheaper, It’s great for consumers to always keep prices at its lowest.
We have price match here too. Target will match any price
We actually don’t have Kmart here anymore..😢
Another great video. Harry is always a gentleman. Thanks Silver Dragon!
I was so scared the first time I went into Harry's (my very first coin shop adventure). Afraid I'd do something wrong, not knowing how to act. Thank you so much for this teaching video.
It's mostly common sense stuff. If you are approaching the visit with a mindful attitude and remaining teachable it seems unlikely there would be a problem. It's the people who come in with no consideration or courtesy who are the issue.
I live in iowa and have a TON of coins my grandpa left me. I wish I lived closer to these guys. This shop just seems so amazing. I love the guys and wish the shop nothing but the best.
Wish I still had grandpa’s coins! I’m pretty sure my grandma sold all of them when he passed. She was weird about stuff he enjoyed.
I live right down the street from them. Gotta get in there soon. I wish I hadn't bought my gold online before I knew about them
These gentlemen are awesome! People do not understand the low margin of profit for these coins shops. Manners do matter! Great show SDs!👍
I got two gold maples at Harry’s and was visiting from out of state. It was a great experience he’s awesome!
I had 3 older brothers. Mom made us keep hands in pockets.
She would say, "Don't touch unless you are ready to buy."
All these dudes are super chill and likeable. I love Harry's! Got free advice from once, was very detailed and professional.
Another great video! But what i didn't get is harry stating : If he offers a seller of coins to little the customer may get offended: but the same way will be with harry getting offended if someone whos Buying offers to low a price. Which he has stated.
Loved this episode. I watched it 3 times already. I really enjoy the knowledge and fun attitudes everybody has. 👍
I wish I could get a job at Harry's. I would work there for free just because of how much I could learn from Harry. The man is a genius.
What a classy fella
So nice to talk up the hobby and educate without politics. Thanks SD
“To start with I just want to say that most people who come in here are ladies and gentlemen!” As they say, it takes one to know one! Harry, Richard and Adrian are rare, true gentlemen themselves. As are you too of course SD.
I'll take ALL these points into consideration when visiting my LCS. Thank you for the LEARNING lesson here....STACK ON.
This video makes me wish I had Harry as my LCS.
The few times I have been into my local coin shop my experience has been poor. The last time I visited my LCS, I took some coins in - that I no longer collect - thinking I might as well sell them. After evaluating the coins, the coin shop worker quoted me a price that I knew was too low based on what he told me each coin was worth. When I tried to politely point out his mistake, he got mad, turned red and looked like he was about to punch me in the face. 😡 When I asked him, "Why are you so angry?" 🤔 He told me, "That's the second time you've questioned my quote!" 🤬
I tried to explain to him the math errors he had made, but he was so unhinged he wouldn't let me get a word in edge wise. Rather than see it escalate into a fist fight, I told him, "I think I'd better take my coins and go."
What bothered me the most about this was that the owner of the coin shop sat quietly in a seat behind his desk and never once tried to intervene to de-escalate the situation. (Which to me was mind-boggling.) Later that day, I went back to the store to show the owner where his worker had made mistakes; since I still had the paper quote in my possession, but all he did was shrug and say, "I'll talk to him about it." He never apologized for his worker's attitude nor how I was treated. Needless to say, I won't be going back. Which is a bummer because the next closest coin shop is 45 miles away.
FYI, during the confrontation with the worker, I never once yelled at him or called him names. I'm still dumbfounded 😳 by his reaction to me simply questioning the quote. The only thing that makes any sense is that he must have already been having a bad day.
This is LIFE advice.
First of these videos at Harry's shop that I've seen, but wow, is that guy ever a class act! I would love to have a shop like that where I live.
In general I have bad etiquette. But you already knew that!😎
Such a great business! Harry is very fortunate to have such great employees. Adrian and King Richard are very professional. As always, Great content!
Please keep this good content coming. You are educating everyone in the hobby.
When i was a teenager, my local coin ship other was a grumpy old man. I sure wish i had a shop like this when i was a kid
Been going to harrys for about 5 years now and he is very nice never had a issue but off camera richard is by far the most arrogant coin dealer I have ever dealt with. I've commented on prior videos about this but it's to the point if I see Richard is working I won't even go in anymore . He sure puts on a act for your camera I can say that. I hope harry sees this comment.
Etiquette tip: If you bite a gold coin to test it like in an old western movie, most coin shop owners will be impressed by your coolness and give you a discount.
Very impressed with Harry and his associates. I'm thinking about driving down to their shop from Seattle to meet them in person and purchase my first gold coin :)
I’m moving from Kauai to Portland in April and I can’t wait to check out your shop!!!🤙🏾🤙🏾 I love the content you folks make together, keep it up! Thanks
Did you manage to visit?
Really enjoy Harry and his coin shop thanks to silver dragons. Reminds me of an old shop I use to go to and it was my favorite place besides the card shop to hang out and enjoy talking about collectibles
The relationship stuff is so understated. I loved toned Morgan dollars and my local shop would pull them aside for me and give me first dibs whenever they got some in.
I agree with almost not sure about the Walmart Target comparison because some stores do price match and not really trying to play employees against each other but at my shop the manager is able to give me better deals than the regular employees so you do have those situations
"Its not like walmart will match targets prices" Yes yes indeed they do and will! Most all stores even online will do price matching lol its actually better for long term business
A first class coin shop
Coin collecting should be fun enjoy what you can afford stay within your budget you may make a few dollars from time to time but that shouldn’t be your main reason
Bullion is for holding value
Collecting is for the history and the hunt looking for that one missing coin to complete a collection or just trying to find a better example
Bullion is for TRYING TO hold value, and often failing.
After building up a good repor with my LCS I was able to get the contract to plow snow for the entire mall complex, as well as building a new barn and house for the complex owner. Dealing with my LCS has been nothing but a great experience.
My local LCS is horrible, I buy from Harry from the other side of the country .
Respect to these people, so educated and well mannered.
I love these guys and have said that several times. One thing I disagree on though is dealer buy-back prices and trying to get a better deal. So on a generic silver round the dealer is going to offer spot or a shade above. That price is (much) lower than the advertised sale price from the same dealer. If a random bystander says to a guy trying to sell coins to a dealer, "Hey don't give it to him for spot ($25), I'll give you $26 or $27", I personally think that's fair game. I could understand why the coin dealer is annoyed by that but IMHO it's not fair to offer spot for a coin that was bought way above spot and is for sale way above spot. That annoys me about all dealers especially on silver.
The guy trying to sell his coins just wants fair value for his silver and the random buyer just wants to split the premium with the seller. Everyone is a winner except for the dealer who wants to keep 100% of the premium. If customers lose their shirt on trades what incentive is there for that customer to continue stacking? I think the first time you accept a spot offer from a dealer will be the last time as you won't be buying precious metals again in future.
On the other hand if a random bystander gives you at least a fair deal that gives you a little of the premium back and gives the other guy some room to sell or value stack, I think that's a much fairer solution. I personally wouldn't go into somebody else's premises and undercut them but outside the shop is 100% fair game. I've offered in public forums to purchase precious metals at a higher price than the dealer was offering. What's wrong with that? It's a negotiation, an auction. Again it's much healthier for the ecosystem if nobody loses their shirt. I know if I sold any of my gold or silver for a heavy loss I would never buy those items again.
Thanks for doing these videos with Harry’s coin shop. Really enjoy them and always learn something. You guys are great!
Great video - one of your better LCS episodes, absolutely loved it.
Hi Razorback Stacker! Yes, I couldn't agree more! 😎I just subscribed to your channel!
You guys are awesome! I wish I lived near your shop.
I totally agree with everything you said and admire your honesty and etiquette, but the Walmart/target example wasn’t the greatest. They both price match, but you guys are a step above the big box
I bought a jade pendant off a shop i asked for a lowball price discreetly. He gave me the price i asked. Its just good to do it away from customers at any shop.
Would you rather have a rude customer that spends money or a polite customer that spends little money. 😂
When people ask me " can u do better " ?? I add a hundred to the price!! Cuz " yes ,yes I can"!!
Actually, Walmart has a match guarantee and people DO ask them to match the price ALL the time. Walmart makes the offer so it is NOT rude to ask for them to honor it. A coin shop is not the same as Walmart.
This is a welcome video experience. I deal with rude and obnoxious people extensively on eBay where I sell air tools and impact wrench parts. Many of the items I sell have no competitor or tool manufacturer on the web trying to sell what I sell. Instead of buyers being grateful that at least they are getting what I have to solve their problem (when no one else can do that for them) they send me heavy handed bottom feeder offers. I take Harry's points of wisdom. Here we see the highly sophisticated operation that he and his people there endeavor to run. Kudos are in order for this valuable lesson.
if you cant stand how auctions work, stop doing them.
Thanks so much for this video. I was wondering about this for a while as a newbie. Awesome video dude.
Common Courtesy, Common Sense and Respect. I enjoyed this one Silver Dragons. A++++++
I really appreciate these videos as a newbie, thank you!
Hey buddy, I love these Harry's videos, very educational, keep em coming..
I appreciate this! Longtime fan of the Royal Canadian Mint's collectible coins - but the actual coin shop space still felt a little foreign to me. I might've done the one 'don't' about asking for a discount your first time... but in my defence - I asked for 5$ off listed, with cash, knowing the credit card fee would be about the same to the shop owner.. needless to say, we're still on great terms hahaha
I loved this episode. Thank you so much. I plan to make my first silver stacking purchase tomorrow with a local coin dealer. Our conversation over the phone was fantastic, and I'm looking forward to seeing the shop and making a purchase. Thanks to this channel I feel much more confident and sound like I know what the heck I'm talking about.
On the price matching. Yeaaah a lot of people do get big box stores to match. It’s really one of the reasons to spend there
Some great information in this visit! Thanks for sharing it! 👍
Common knowledge common sense
Common etiquette… world class guys here
Very useful video for new stackers!
Harry, Richard and the other guy seemed pretty laid back and nice guys. Silver Dragons, it would be hard to be impolite and rude to such guys. I have been to coin shops where the people were really nice and helpful and others where i did not like the people working there. I have never been rude to any person but I have known some coin dealers who were pretty rude.
Yes. The friendly and kind owner of my old LCS knew of my interest in exonumia and always kept things aside for me to look over. He retired and sold the shop to his trusted and kind assistant, but within a few years the second owner retired too and he sold the shop to a small chain of shops. This shop's new staff is cold, suspicious, rude, unsmiling, and the opposite of friendly. Additionally, the new staff's historical knowledge of numismatics is either not developed yet or they are not sharing it with customers, and they have dropped exonumia completely. The contrast with a good coin shop like Harry's is startling. Of course, i would give anything to have my old LCS back the way it was, but it is not happening, so i am glad to be able to follow Harry's shop on UA-cam. Thank you, Silver Dragons.
Harry is straight up boss. 😎
Literally, the boss. Lol 😆
Excellent information!! This is a great crew!!
Incredible video. It is a very sensitive topic that other Coin Shops may not have wanted to discuss. Harry and his Crew are all class. I look forward to seeing their shop one day and spending some money with them.
This was a great video for everyone to watch and learn. Thank you.
Love Harry's shop. I've referred many there when I needed to.
Love these videos especially with the special intro!! So cool!
Awesome video, you can tell these 3 gents are very straight up and very knowledgeable.