Thrown out of a coin shop

[FreedomUIC]

Went to this combination coin shop/Antique store. This is not the coin shop I visit. I was looking for proof sets and he had quite a few. Anyways, there was a couple selling coins to him and raving about how he is the most honest guy in town. After going through his little bag, he brings out a much bigger bagger full of ASE. The guy behind the counter is known as an asshole and lowballs everything. He told the guy that he used to pay $5.00 dollars for them and now pays $10.00. He must have had 50 ASE. I calmly asked the guy what he had and the owner threatened to kick me out of the shop.

Well I didn't take to kindly to that so I informed the gentlemen that he was not only getting ripped off, he might as well call the police because he was being robbed. I told him he can get anywhere from 28 - 30 dollars a piece at the coin shop just down the street(My Coin Shop). The gentlemen escorted me out the door, As I was leaving I told him what a pompas ass he was and that he should try paying what a coin is worth and stop ripping off people who don't know what they had. He asked me not to come back, said to him in a rather loud voice, "I don't do business with criminals". At that point he shut the door and said good riddance. Went to my coin shop to get some Barber Halfs for my collection and lo and behold, in walks the people from the store down the road. They showed the owner the sales slip they had given him as an estimate and guy about shit. He offered $500.00 dollars for 50 ASE's and 25 cents a piece for silver's dimes. The guy said it was his Christmas money and after he heard what I said he thought he would come over here and see what you had. Guess the guy threatened them as they left. To make a long story short, my friend took care of them and they gave me a $20 as a way of saying thank you. Tried to refuse the money but they insisted.

They were both in their late 60's to early 70's. What a shame that people like that prey on the elderly.

Anyways, story had a happy Christmas ending and I am guess that once word gets passed, the asshole down the street with fold up shop and leave....

 

[gold eye]

Way to go hate to see that happen you did a great thing. happy hunting and have a great xmass. Ron

 

[desertfox]

Merry Christmas!!!! You didn't get kicked out of a coin shop, you got kicked out of a Rip Off Joint! Thanks for doing the right thing by the older folks. It's a shame that people like that joint can be in business. Happy Hunting and have a wonderful New Year.

 

[fistfulladirt]

I fully agree that the owner is a rip-off artist.
You were also in the wrong.
If you had come into my business, I too would have thrown you out.
Say anything you want OUTSIDE of his business.

 

[FreedomUIC]

I fully agree that the owner is a rip-off artist.
You were also in the wrong.
If you had come into my business, I too would have thrown you out.
Say anything you want OUTSIDE of his business.

I have to reluctantly agree with you FFD, I did feel kinda sad about it but to see the end of it made my
day. Besides, you wouldn't be ripping elderly, or for that matter, anybody off. Most business owners
understand that you are in business to make money, you just don't make your money off of one customer. And to make matters even worse, he is a part time resident and is only here for three or four months out of the year. That is the time that the "Snowbirds" join us and those are his prime targets.

Just makes me sick sometimes and my asshole overrides my mouth once in a while...

 

[fistfulladirt]

I fully agree that the owner is a rip-off artist.
You were also in the wrong.
If you had come into my business, I too would have thrown you out.
Say anything you want OUTSIDE of his business.

I have to reluctantly agree with you FFD, I did feel kinda sad about it but to see the end of it made my
day. Besides, you wouldn't be ripping elderly, or for that matter, anybody off. Most business owners
understand that you are in business to make money, you just don't make your money off of one customer. And to make matters even worse, he is a part time resident and is only here for three or four months out of the year. That is the time that the "Snowbirds" join us and those are his prime targets.

Just makes me sick sometimes and my --deleted-- overrides my mouth once in a while...

I hear ya Freedom, it's a shame people are allowed to get ripped-off like that!

 

[rileyboy]

Freedom,
Nice job!
rileyboy

 

[apush]

Way to go Freedom.

Good Karma is coming your way.

HSH,
apush

 

[Codes]

You did a great thing; I would have done the same. Maybe word will get out and he will start paying closer to fair value instead of ripping people off from now on.

-Codes

 

[fistfulladirt]

I just don't get it. People have no problem shopping at WaLMAR and paying ripoff prices for cheap goods. Yet you would enter another's business and dictate what prices the owner should be paying?

 

[calisdad]

I fully agree that the owner is a rip-off artist.
You were also in the wrong.
If you had come into my business, I too would have thrown you out.
Say anything you want OUTSIDE of his business.

You guys have competing businesses in close proximity. Seems there's a little history we may not of heard about. While he lacks scruples it seems there might be a better way to deal with him. I don't think you would want him disrupting your business. Hang a "Free Coin Appraisals" of "Best Coin Prices Paid in Town" sign. Something along those lines.
regards-

Happy Holidays !

 

[clovis97]

I know someone in their 60's who has two cigar boxes full of silver coins that were collected from change that came into a gas station back in the 1960's.

Aside from the Walking Liberty coins, until they met me, would have sold these at a coin shop for 2X face, and would have been thrilled. I can tell by the way they act that they don't believe those coins could be worth so much, but aren't taking chances based on my advice.

 

[Numismaniac]

Freedom,

I can see both sides of this issue, but I still think you did the right thing. I know it's on the borderline of good manners, but still glad you were able to give them some much needed info on what their silver was actually worth. To be honest, I hope the other coin shop guy learns a lesson and is a little bit more up front with people in his shop in the future.

If I read your post right it's not like you were in competition with the guy. It's a free county, if you want to tell them they should consider another opinion on what their stuff is worth then he shouldn't be threatened. Especially if he is paying market prices.

Either way, I think you have some good Karma coming your way!

 

[SFBayArea]

You did the right thing. I would contact the Better Business Bureau for sure. I'm curious what local law enforcement would say about it. I can see it as some form of fraud but the owner would state that it was his offer. The people can take it or leave it. It's kind of a borderline issue depending on what your state laws say, just like how Cash for Gold rips people off. Contact the Better Business Bureau to see what they say about it. I wonder how many old people he had ripped off by low balling them. I guess if they do sell to him, it's better than dropping them off at the bank.

Some dealers are unscrupulous. One cool dealer told me a story of another dealer who would rip people off like old ladies by reading them. Reading whether these people had any knowledge of coins. One old lady went to sell some silver certificates and the guy told her that "Roosevelt recalled those notes" and he talked her into selling them to him for less than face value. Talk about a scum bag.

 

[FL Junkman]

I recently had a similar experience except I spoke to the customer outside in the parking lot. I was in a local coin shop and saw and overheard a customer with some coins in a coffee can in conversation with a store employee about what they were worth. I did not eavesdrop on this conversation except to the extent to determine the customer had some coins he might want to sell. I followed the customer out into the parking lot and then gave him my business card and told him that if he decided to sell some coins, get an extimate from the coin shop and then call me for 10% more. I haven't heard from him but the offer still stands. Like some of yall, I do not believe I should have interupted the conversation inside the store. But I'm not being critical of others, it's just the way I handled it. HH

FL Junkman

 

[GPURS]

Kinda wonder if any of you big talkers would raise such hell in a Mcdonalds where they charge $1.29 for a Coke that costs them .02? Until you start paying the rent, stay out of other peoples business,,, and wallets..

 

[FreedomUIC]

Let me rephrase before somebody else gets their knickers in a wad. I kindly asked the person selling the silver what he had. No intention of offering more, just plain old curious was all that I was. I thought they might have been ASE and wanted to make sure. Out of nowhere the old geezer behind the counter said that he has kicked people out of his store for talking with his customers. That is what set me off plain and simple, no respect nor dignity towards anybody else. After I stood up, I did see that they were ASE and some Morgan dollars he hadn't offered a price on yet. I know that the $10.00 a piece was for the ASE. The proprietor pizzed me off, it is that plain and simple, and I let him have it. More for being rude than anything else. What is even more funny is that I had several hundred on me to purchase some 1961 - 1964 proof sets that he had in his credible establishment at $18.50 per. Betcha he paid $1.50 for each.

There, now everyone know what set me off.

 

[Rich Hartford]

I enjoyed this story very much. Read it a couple of times. You did a good deed by speaking up .
HH
Rich

 

[Numismaniac]

OK, I'm going to throw my support towards FreedomUIC even more. Coin dealsers aren't McDonalds. They put themselves out there as experts and offer to give appraisals, advice, etc. Yes, we CRHers all study and know how much Silver is worth, but Joe Public doesn't and they trust the dealer to be honest and straightforward. Also, not sure if this guy is an ANA dealer member, but if he is I'd say he violated the ANA code of ethics (from their website):

•To comply with the ANA Member Code of Ethics.
•To purchase and sell numismatic items at prices commensurate with a reasonable return to the seller and for a reasonable return on my investment with regards to the then prevailing rate.
•To furnish my clientele with advice on numismatic information to the best of my ability.

So, I am sticking with Freedom, you done good! You didn't profit by telling the seller they should seek another offer/opinion -- he could have blown off your advice and still sold to the dealer in question. To stick to the McDonalds argument, I wouldn't see a problem with someone telling someone else in line at McDonalds that they could get that soda cheaper across the street either....

OK, I'll quit throwing gasoline on the fire now. Happy Holidays and Happy Hunting!

 

[ivan salis]

scruples -- look them up some folks have them others don't * -- now I am all for folks making a honest fair profiet --- but then theres just screwing folks over -- and that I'm not so keen on .

uh at 25 cents for a silver dime thats worth $2.11 spot (less than 1/8th of its true value ) at 2 .5 times face ya he was screwing em -- I sold some 90% silver at a decent honest dealer at 12 x face recently -- 25 cents vs 1.20 -- slight bit of dealer profiet mark up ya got there buddy at .95 cents per dime in excess profiets --plus my dealers normal "profiet margin" as well)

You in effect "threw yourself out" of a vipers den , by opening your mouth and warning the folks not to "fall into a trap" (if you saw a mugger from across the street waiting in aalley ready to hit them in the head with a "sap" as they passed by his "office" -- folks would say warn the "innocent people" --but oddly just because this type of crook has a "shop" and uses no "weapon" --its ok for him ro do his "thing" and you should say nothing ) -- he was a greedy low life type , taking serious advantage of the trusting unknowing sort of person -- yes the word will spread of his evil ways and he will get what is his just desserts are in due time.