"While the mail-order numismatic houses may not have this opportunity for local involvement, they can also do much to advance knowledge and increase the sophistication of collectors. We can point to several examples of firms that have made this commitment. Dave Bowers stands tall among numismatists for demonstrating the extraordinary amount of education that can be packed into his sales publications, both in his retail lists and auction catalogs. Littleton Coin Company has certainly made its presence known among the collectors of lower-priced material, which is how many collectors start in numismatics. Stack's has long specialized in disseminating information over the counter.

"So what will be good for the long-term interests of numismatics? Making sure that the clients get the best coins (not necessarily the highest grade or closest to 'bid') for their goals and collecting plan. Giving the customer what he likes (as modified by your careful guidance, attention, and sharing of knowledge) will inspire additional demand. As all dealers know, there also seems to be a never-ending supply of interesting material to entice the sophisticated collector/investor. Maximizing the number and quality of collectors is the only way to provide the broad, firm foundation that price increases are built upon...

"The spark of coin collecting must be fanned into the flame of desire. In a supply/demand marketplace, nothing else can sustain higher prices..."

Sadly, Messrs. Leidman and Mendelson are in the distinct minority among dealers. At a meeting of Professional Numismatists Guild members a few years ago the president of that group asked for a show of hands from those who had given a public talk or program on coins within the past year. In the audience comprised of 100 or more hobby leaders, scarcely a dozen hands were raised. Dealers in the "silent majority" delight in taking profits from the hobby (or industry) but apparently don't have the time or inclination to put something back into it. Perhaps, take-take-take should be balanced with give-give-give, or at least one "give."

Pleasure and Satisfaction

Unquestionably, the collector, apart from his being a largely unappreciated necessity for the strength of the very foundation of the rare coin business, derives a great measure of personal satisfaction and pleasure from coin ownership. Why? Here are some of my observations.