Liberty Coin Service

If you talk with or visit enough coin dealers, you will experience the whole gamut of customer service and a wide range of value (i.e., quality and price). That is one of the benefits of visiting coin shows and brick and mortar coin stores. You will have the opportunity to experience the level of friendliness and helpfulness, or lack thereof, first hand. You will also have the opportunity to judge how strictly or loosely a dealer interprets grading standards and their relative pricing policies.

Not every dealer and every customer are on the same wavelength. If you find a dealer that doesn’t serve you in a manner that is comfortable for you, feel free to avoid them for future possible transactions. However, it is also possible that you may have come across a wonderful dealer where either the dealer or you were not in the best frame of mind during your initial meeting. Finding a helpful and considerate dealer is something to be treasured. You might get lucky the first time you meet one, but don’t automatically write off others where you might have just gotten off on the wrong foot.

Cultivating a coin dealer can really pay off for the collector. If you develop a relationship, the dealer might remember the kind of “look” that you seek and set aside pleasing coins to offer to you first. It may happen that the dealer has some special knowledge in your field of interest that he or she is willing to take the time to share with friendly customers. A dealer may also be willing to give honest references on other dealers if someone else that you don’t know has the rarity you seek (but keep in mind that some dealers may refuse to give a positive recommendation for any competitor).

If you are able to pick the brain of a dealer, which is easier to do in person than by email, you are more likely to get tips on overhyped products to avoid, and desirable coins and paper money that are currently at reasonable prices. You can ask questions about storage and preservation. You can get referrals on which collector organizations might make sense for you to join. If your local dealer is a friend and knows the look you seek and your budget, they are more likely to shop at coin shows for you. 

Another major potential benefit of developing a relationship with a dealer is you might be able to negotiate a lower purchase price than if you weren’t friendly with him or her. If you really trust a particular dealer for their competence and honesty, you might even ask their opinion about pieces that you might purchase elsewhere.

Putting all of these possible benefits that you could receive by befriending a dealer makes the effort more than worthwhile. However, how might you break the ice if you might not instantly hit it right off with a particular dealer? Let me give you a couple of comments you might make that could help things go in a positive direction.

These suggestions are appropriate where a dealer has a coin you really like and you can see that there may be other coins worth buying down the road. If the “best price” is still slightly more than you want to pay, consider saying something like, “Well, I really like this coin and I would like to become a repeat customer of yours. I’m going to stretch a bit extra to buy this coin today. But, I would like you to remember me and see if we can work a slightly better deal next time.” Or you could say something such as, “Well, I can’t quite pay that price today, but next time I might bring some extra money and see if we can work out a deal on multiple pieces.”

In your conversation with the dealer, remember to be polite and include the magic words that imply they might get repeat business from you. To a coin dealer, repeat customers are like gold. If the dealer has good business sense they will be encouraged to spend the effort to earn your long-term patronage. Have fun making friends as well as adding to your collections.