Coin Shop Owner Explains HUGE Coin Shop MISTAKES "Silver Stackers" Make
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- เผยแพร่เมื่อ 4 ธ.ค. 2024
- In this video I talk to Mike over at Portland Precious Metals about coin shop related mistakes that silver stackers make. When you go to a coin shop there are certain coin shop rules and etiquette that you should follow. Silver stackers and coin collectors alike need to be aware of these coin shop rules. Most local coin shops have similar rules. Always be courteous of other silver stackers and silver investors. When it comes to buying silver or buying gold at a coin shop there is a right and wrong way to do it. This bullion dealer breaks down the right way to buy physical gold and silver. Here is the last video filmed at the Portland Precious Metals 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, silver price, silver investing, silver stacking, silver and gold
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I'm glad he mentioned the hands behind the back because that's my go to move at ALL coin shops! I thought I was conveying a notion of hey I'm here to buy not sneak something in my pocket. I also thought it was preferable so I'm not leaning my hands on the glass cases while looking at coins in the cases and on the walls.
If you care what the person on the other side of the counter is thinking/feeling then it is just good manners and thoughtfulness, Like not palming a coin ring that is obviously in your hand. I find it sad that it needed to even be said out loud!
I agree. I typically keep my hands behind my back to show the dealer I’m not going to do anything shady, and I don’t want to smudge up his glass cases. If I ask to see something I keep it over the case so he can see it at all times, and one at a time always !
same! This was a huge thing! I going to ask next time I'm in a shop just to see how they feel about it.
Hands behind back is a stance of humility as well.. I'm not touching just looking at things I can't afford
AND- There are often “Don’t lean on glass” signs on the counter as well!
very interesting video. As a Brit I was raised to "look with my eyes and not my fingers" so putting my hands behind my back while looking at stuff in a shop would to me be a sign of respect not subterfuge. I'll bear it in mind if I'm ever in a US coin shop.
I'm a Canadian and was raised the same way lol!, must be in the roots!
Same here in the NL, kinda weird but I guess that's more of an 'anyone can carry a gun' kinda thing.
I agree with you 100% I've been to some shops where they say please don't touch my glass they have to keep cleaning it all the fingerprints. Same thing when you're looking at a old classic car look closely and keep your hands behind your back.
How many times in this video does this guy say show your hands.
No you're not wrong this guy's just really paranoid. Most shop owners respect you not leaning and touching their. Definitely don't go to a coin shop where the owner is going to treat everyone like a thief that's not good customer service.
I agree with you on this I am sure you don't want someone to be handling all sorts of stuff while in a Coin shop
I have a tendency to put my hands behind my back when leaning forward and looking in a glass case. It's a habit to keep me from leaning and putting my weight on the case.
You and everyone else reading and commenting feels the same way this guy is a paranoid little girl 😂
I remember gambling in Las Vegas in the 60's and the dollar machines were taking in and paying out silver Morgans and Peace dollars.
My dad took us to Virginia City, NV when we were kids in the mid 70s. They had a display of silver dollars encased on a bar top. Can't remember the name of the place. Maybe Bucket of Blood Saloon.
Hands behind the back is so we can look down into the display cases without leaning on the glass, arms back there is a counterweight to keep balance. Plus I would think it’s saying I’m not going to be grabby with your high value items sitting around
@@Portlandpreciousmetalsit was just something that took me for surprise. I'm used to stores with signs "do not lean on the glass" that's it's natural tendency to get my hands & arms out of the way when leaning in to look at what's in a display case. Hadn't thought it was something that causes suspicion.
When my LCS pulls out trays or gold/silver coins for me to view... and he walks away or isn't immediately near me... I will put my hand to my side or behind my back. I don't want to get blamed later if something disappears off the counter. I also don't handle anything until I ask and get permission.
BTW - my LCS does not display anything. He brings it out of the safe. Has a single high chair at the counter, and a row of seating chairs back against the front of the store. Only one customer can be at the counter at any given time. All other customers have to have a seat and wait their turn.
Last time I was buying my LCS placed his Morgans out and just walked off, like IDGAF vibes. But it's Kansas.
My LCSs see me so frequently they put me in a room with piles of whatever I want to look at. I just pile up what I want to the side and then tell them to give me a price. If I am too high, I just take some things out of the pile to reach budget. I really enjoy the trust and go back accordingly. @@anonymous071985
That’s not a coin shop. That’s a prison in lockdown.
Sounds like the Land of Oz to me. Or land of oz, troy oz?@@anonymous071985
Hands behind the back is respect in my opinion. I don’t want to touch something that can get damaged and be blamed for
@@Portlandpreciousmetals I don’t fk with you guys no more 🤷♂️ business is going else where
until you work in a retail setting you can't really relate. hands behind the back seems ok at first but the dealer doesn't know if you have coins you are trying to put in your pants, pulling a gun/knife/can of mace, etc etc. its just one more thing he/she has to think about while monitoring the store and maybe multiple people.
This goes along with the humility that new people need to have when entering a new hobby, lifestyle, or whatever. If you've never bought metals before, or talked to other stackers, let the coin shop owner or other customers do their thing and politely learn. Don't assume. Ask questions about products when needed, ask if it's OK to pick something up (or how to do it). Be humble, new stackers!
humility is a virtue many lack today. It's weird how people are gettign offeded by this. The employees need to feel secure too.
Some people only take, This includes manners and respect. Everyone wants to be treated with respect at the coin shop but only some people want to give it back in return. Thank you for the positivity. Grow your stack!
They only take by forking over their hard earned money to you. They just take take take. It is a wonder you are still in business. You don't f*cking tell me how I need to behave. You are clueless.@@Portlandpreciousmetals
Having a gun in your hand or wearing a mask I understand. Hands behind your back is kind of overkill. I don’t want to think about 100 rules just to make you comfortable when I spend money at your store. In my opinion you got issues if the fact that customers having their hands behind their back when looking at coins bothers you.
Agreed.
It's not about rules, it's about putting yourself in another person's shoes. There's a word for that no?
@@Portlandpreciousmetals Your reply comments in this thread shows respect. Please understand the video just comes across wrong. I wish you success in your endeavor.
@@Portlandpreciousmetals I get the mask situation...but would you be comfortable if a masked customer lifted off the mask for a few moments so you could get their face clearly on camera and then put the mask on while shopping?
@@maskedman1337 You can wear whatever you like but we need to see your face before entering with a mask. Put it on after entering. I believe this is standard at any place that sells gold. Thank you for watching.
This was a very appropriate interview. Mike is a businessman who I can respect just by the way he speaks and answers your questions.
Thank you for the positive comment. Grow your stack!
Anybody carrying a gun with cash placed in front of me on the table in a business is a situation that better display a police badge or the guy gets shown the door. I buy coins from my LCS, Northern Nevada Coin in Reno. I always walk in with cash laid in their store branded zippered wallet, hands exposed, pen and paper in full view to show I am only about business. @@Portlandpreciousmetals
I've been to Portland Precious Metals several times and always have a good experience!
I saw one of those orange tubes a few years ago. I never asked about it mainly because I was very new to stacking. But I am so glad you asked and it was explained. Thank you so much!!!
Dude same lol i did the hands behind the back thing to show "im not touchy touchy anything" . Only went to the shop for a chain kink repair. Not a regular shop guy. Well now i know. Thanks silver dragons
Its clear that "Hands behind the back" is a sign of respect. This guy has some deep seated issues with this. I'm going to assume he has had issues like being robbed this way or something. I have been to MANY MANY Coin shops, Pawn shops, ect and all have no issue with this. Some prefer it. Keeps from smudging glass, breaking glass, showing nothing is being picked up, ect.
The orange tube looks nice.
Thank you for the tip about not having hands behind your back. I typically walk into coin shops and put my hands behind back, because I was trying to convey that I am not going to grab anything. Additionally, when a coin is placed in front of me I always ask if I can hold it before I even think of reaching for it.
I think you might have to walk in with your hands in the air for this guy's shop
I definitely love the orange tubes ! I’ve seen them but definitely like those.
Good info. I usually put my hands in my pockets or behind my back to show that my hands are not near the goods when I am looking so you don't think I am going to snatch it. I did not think that as a owner you would want to see my hands for the reasons you state.
I noticed you’re doing a lot of interviews with coin shop owners, but I never really see addresses or information on how to go see these individual people for possibly purchasing merchandise
Probably they don't want to send bullion in the mail?
Why do that? I am sure they say the name of the shop(s) at some point and you can look them up but even if not, so what? You don't have to goto the same coin store, they are all petty much the same. Also being that you used the word merchandise for gold and silver... Yea you should rather use the word investment, it's not something that you are buying as more of an exchange of wealth in actual wealth that will hedge against inflation and go up in value. Merchandise is like T shirts and bandanas and stickers. Also if you don't live near to or don't want to goto a coin shop, just order from a reputable seller like Kitco or Apmex.
Yeah I’m not gonna lie, like most of the other comments I read, I too thought that my hands behind my back was proper etiquette. Kinda like “oh hey my hands are away from the display cases and coin racks so you know I’m not shady”. I guess I might need to rethink what I do with my hands now……
I always keep my hands behind my back in a coin or gun shop. I thought it would make the owner more comfortable knowing I wouldn’t make any sudden moves. Am I wrong?
No this guys a clown
If they are this concerned, they need to update their shops and displays. It’s not a prison, it’s a business. Sadly 99% of the shops are stuck in the 80s.
Crushed the like button! EXCELLENT video! Excellent information and thank you so much for sharing!
Voted best you tube comment of 2024!
Argentia products rock!! 'Woman on Water', 'Mara', etc.; can't go wrong. just wish they would have serialized them. I recognize hands behind the back can be concerning, but most vets/military folks and even older people have been taught to 'stand at ease' or keep hands off the glass to show respect. just a thought. 8)
Came here for silver, stayed for Tank
The cap is not doing a good job of disguising the fact the the coin shop guy is a CHROME DOME.
Lots of his perceptions could simply be folks unfamiliar with things in the numismatic world. I have asked many a customer at an antique or gun or coin show if I could just listen in to the interaction and no one has ever said no. Also, I always thought my hands behind my back was the best way to show I was not going to take anything and as a sign that I am just looking.
I will make a point to ask my known LCS owners how they see it now that I hear this.
I often stand with my hands behind my back as I’m observing stuff or looking at things. It’s a military thing. That’s what I would be doing
I think i would just bypass this shop.
@@Portlandpreciousmetals No disrespect intended. Thanks for the education just the same.
If I go anyplace I keep my hands either behind me or in my pockets. Just my way to show I didn't touch it, break it etc. If that's an issue I simply don't need your service. My job is not to make sure your job is a comfortable one. Trust or don't, simple. Far as the world go's, humans will never be what we want them to be so get used to it.
So walk in slowly with your ID affixed to your chest, hands held palms up and clearly visible at all times and your hair neatly combed back away from your face. Don’t comment on the weather or ask for recommendations for a good place to grab lunch nearby. Speak in short precise sentences, no hats or hoods (even though the guy behind the counter has a hat on) and only ask to see an item if you intend to purchase it. Sounds like a fun place!
These are Your words, not mine!
@@Portlandpreciousmetals Right…. I was summarizing. 👍🏻
@@StAugStacker Not a summarization of anything I said. Perhaps your interpretation but Your comment does not come close to reflecting our customers experience. There are a few comments written by our local customers, Feel free to peruse the comments and see what people that have done business here have to say. Thank you for the comment. Grow your stack!
I have a feeling that the people that has malicious intent, are not the ones watching this video.
Great interview
This weekend I was robbed right outside the coinshow. 2 police not 100 yards away. I'm not going anywhere with silver and gold without sidearm anymore
That sucks!
Where did this happen?
@MooseBme the municipality I live in. SANDY CITY Utah. There was at least one other dealer that was followed home and robbed as he was taking stuff in house.
Beware of Magicians coming into your coin shop wearing white gloves and long sleeve jackets.
We have had many magicians in the shop over the years and after they tell me they are magicians the first thing I say (jokingly) is don't show me the disappearing coin trick."
Some good advice. Need to be diligent, but can't be too paranoid either. It gives off a bad vibe, which will in turn make customers not want to come to a shop.
11:18 I like these surveillance videos of thieves trying to be slick
Sounds like the rules of a drug deal lol. Keep your hands where we can see them, know what you need when you get there, don’t ask too many questions, don’t stay too long, don’t look at the guy too long. I can definitely understand not wanting someone to walk in holding a gun like that one guy though
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
In most cases the shop dealer is the one wearing the mask.
That's funny. What you said & how you said it reminds me of the Soup Nazi episode from Seinfeld. No soup for you!
We all wear a mask in this society.@@kravenfoxbodies2479
We have soup for every one.Even if you have bad breath!@@bo_dink
A lot of useful information.
Good afternoon SD
Like those orange tubes. I’ll have to look out for them.
Hey just been to Mikes coin shop last few days. I’m new to stacking!. I didn’t know you were from Oregon!. Great content. Cheers 🍻 subscribed!.
Hi Silver Dragons! Many people are wondering if you are going to eventually drop the incognito on your videos. Obviously the coin shop owners have seen you and maybe a few customers or two? I know many customers and subscribers have seen Yankee already. Anyways, love your content and hopefully we will all see the other Mike on video also. Both Mikes are pretty chill. I'll probably stop in to buy some more 90% percent from them really soon!
Hey Jaime. you didn't see him in the mirror?
Hey Mike! I definitely did not. It only shows the back of you-lol. Anyways, I'll be calling you soon to make another 90% percent purchase-but a larger amount this time. I'm addicted to the junk-lol.@@Portlandpreciousmetals
Mostly correct as in be thoughtful of stuff and others time and stuff. hands out of pockets yes but hands behind back once inside especially when looking down in case is fine. I can see don’t have hands behind back when walking in (big no no!) or up to someone sure. And keep out of pockets which I’m bad at with phone in and out so good reminder there.
Nice shop with cool stuff.
Would a coin shop owner allow concealed or open carry?
I had to actually ponder this subject a moment because I had the attitude that hey I’m the paying customer I’ll do what I want BUT
Times have changed dramatically and not for the better. The smash and grabs and the confidence of criminals nowadays because the lack of prosecution is off the charts. Mass retail closings due to crime.
I get it. This is a specialized transaction and interaction that starts with distrust so I absolutely understand his point of view and agree.
Stackers need to know this information.
Jewelry store - same concept.
Windex. It's a thing all coin shops should have.
It’s sad, but I’d had to deal with this in my shop somewhat regularly with slight of hands.
This was an edited video and SD edited it to be the Final Cut that you see. My intention was to focus on the coin ring theif. We talked about a lot of things and the comment section seems to only want to focus on one (edited) sentence of mine even though that was not what I intended for it to sound like. SD along with commentary have made this the main focus of the interview not me. Thank you for watching. Grow your stack!
Great video….common sense for some but many would find this very informative!
Orange tube for ASEs - very interesting.
What’s the etiquette about calling to check on prices?
I don't have any problems in local coin shops in my area. They are so expensive to buy from and so cheap when buying from me I've given up. I only deal with places like SD or Hero bullion. At least there I don't have to worry to much about buy counterfeits.
Some folks lack common sense. Incredible that this stuff even has to be explained.
Needs to be vending machines everywhere to buy silver rounds to eliminate the coin shop "experience".
Yeah that would work great. No issues at all.😂
No comment from the gold vending machines in Dubai
You can't negotiate the price down with a vending machine!
Buying online is the closest thing to vending machines.
Well, dang … hands behind my back tends to be my ‘go to’ stance when looking at stuff in display cases like that
GOOD INFO..I M A BEGINNER...👍
Very good points!
Good advice!!
My local coin shop is by appointment only, I've called twice and haven't received any call back, should i keep calling or maybe try going and knocking on the door? I dont want to be annoying with my phone calls but they within walking distance for me and would rather use them for that reason however i been searching for others around me. Got one that takes me about an hour to get too already, but that shop is more for sports collectables than coins it seems. I'll probably keep calling unless you got any advice SD?
2 questions, how many oz,s is in the goddess, and where are you located?, this I'd a real cool coin shop I would love to visit!
10 oz and Portland Oregon! Grow your stack!
Yeah, hopefully, that chump was arrested for trying to shoplift that ring.
When I go to coin shops, I'm pretty sure I follow the same etiquette you guys were talking about.
Thanks for sharing. 👍
LOL at no hands behind the back. The majority of people do it, it's common so get over it. If it bothers you so much, put a mirror along the top of the store's front wall at an angle so you can l look at it and see what they are doing. It helps with balance, I don't have to put my hands on your glass counter, you can't say I took something off your counter, and I can rub my back as it gets sore bending over looking at your stuff.
Those old eagles are cool !
I have 100 oz of 85- 86 in the orange tubes. Knew what it was right when I saw it. Good score from my lcs in '09. I do like em but not nearly my favorite in my stack.
@Portlandpreciousmetals sounds good but I'm in canada. Also, it would be too much work to break them out of my hiding spot. Let's just say John wick style. They are not going anywhere, I had a 119gram Natural nugget of gold that I had asseyed and they "melted it." It was done through my local coin dealer, which i trusted and built a relationship with when I lived in Washington state. I would love to say who he was. Was not happy at all.
I already think I know who you are talking about. If it was not very far from Portland @@gotsilver77
This is my local LCS, been there dozens of times and I always make my intentions known. If any other customer is in there I go sit on the couch and give them their privacy. I do always stand with my hands behind my back, as a gesture that Im not trying to do slight of hand B.S.; after hearing this, Ill try not to do that anymore.
Great info
My hands out in the open is a red flag
My hands behind my back is a red flag.
Talking to other people is a red flag.
Everyone is Guilty until Proven Innocent
Great Coin Shop 👍
As a vet i tent to put my hands behind my back as a sign of respect. If u bring out a coin i dont know i naturally don't want my hands near it in any suspicious way.
Suggestion for shop owners, don’t display products on the bottom shelf 12” from the floor. Us tall old guys do all we can to get close enough to see it with glasses on and yes hands behind back actually is more comfortable when bending over, helps with balance.
Just calling you must have a lot of anxiety lol
I have to tell myself "mind your own business" in those shops. I'm pretty curious and I like shiny things. So I don't look around at what others are doing, and I don't have the employee pull something out unless I'm pretty sure I'm buying it.
When I was new going to my LCS basically did all of the above except I don't steel anything my LCS guy he yelled at me a few times some crazy learning experience
Put in a partition for the money/coin exchanges, that will cure the looky lou issue :-)
OK, what exactly is grading why would he send brand new coins in that he just got probably from supply house somewhere I’m not sure where we got them but what’s the purpose of doing that? I thought silver coins are silver coins please explain.
Maybe just showing your hands from the moment you step into the shop, so they can see you have nothing. After that, you can keep your hands behind your back until you’re ready to see something to hold.
OH MAN PART Cavy KING CHARLES PUPPY LOVE THEM
He's all cavy! and all love!
@Portlandpreciousmetals he looks very similar to mine, I have two tri cavys their the best dogs on the planet!! Good choice!
THE BEST! Tank is my right hand man!@@noctilucent7396
Guilty....with the hands behind the back. Ive never concidered this. I was always purposefully keeping hands of the glass and away from items to try and make the seller more comfortable that im not grabbing things. Good video. I always try to respect sellers and their comfort levels. I guess hands out front iss better.
Hi, Mike!
Tucker! Where ya been? I'm outa eggs.
Love the reverse proof buffalo
Oooops. I frequent Mike's shop often and always, ALWAYS, get great service and a smile. I am guilty of putting my hands behind my back as I'm conditioned to not lean on the glass counters. Now I know. See ya this wknd.
Frank, You are not a complete stranger and have earned our trust. We don't flinch when walking away while you are picking through the coin trays!
Thank you, Sir@@Portlandpreciousmetals
If I’m anywhere and a customer ahead of pulls out money, credit cards… I look at anything but them.
The "winged unicorn" is a pegasus.
Guys the hands behind the back has to deal with weapon concealment......obviously you cannot steal with your hands behind your back.
Hands behind the back. Sound like a scared cop
Most of the time I will wait outside of the bullion shop, until the last person is done.
JM Bullion is usually cheaper than SD
I have my CCW everywhere I go. But I carry mine in its holster. 😂
My body guards do the carrying. I do the walking.😋
Good video
common sense and cou😊rtesy
4:45 to get to the supposed point of the video
I always ask the owner or clerk if I can see something and they hand it to me I would never reach for anything. I always introduce myself so they have a name.. I also stay put and never wander around the shop holding something.
Walking out of the coin store is weird at times with a purchase in pocket / just saying ✌️
Lol. I've bought metal from him before. Cheers.
Never interrupt a costumer and owner when they are working a deal!
I completely agree with everything he said but I would also say if you have bad habits or if you feel like a shop owner will make you feel uncomfortable it's best just to stay at home and order online. It happens to me a lot so I understand the feeling on the flip side
I own a jewelry store and I had a customer jokingly yell, “stickem up!!’ We are armed to the teeth, and He’s lucky
To have silver go way up people must start to buy stock silver yes people love fiscal silver but buying let say 40%stock 60% fiscal would make silver go up very quickly. Stock silver makes prices go up fiscal doesn't do a thing to prices
Excellent Points. Enjoyed the video.
Rule # 1 bring tank a treat
Sooooo.. I cant put my hands behind my back. But i also can't put my hands on the glas. Where DO I put my hands when looking?!
Something that i've done when looking is put my thumbs in my pockets with my full hand visible
Make some Tee shirts with tanks picture and name and the shops name on the back .
And hats with shop name . Swag makes money and make tank famous