"We certainly welcome the business of the investor, and recognize that he must share some of the traits of the collector if the industry is going to benefit in the long run. The cold investor who sells on a moment's notice, as soon as the market shows any sign of weakness, will find himself participating in a self-fulfilling prophecy. If all the collectors are driven out of the market and the only stimulus left for buying coins is the investor's need to have prices rise, then the market will collapse.
"Much has been said in the numismatic press about how dealers treat the young and beginning collectors who venture into their shops or onto the bourse floor. The young collector is the future of the hobby, and the neophyte collector or investor, getting ready to take his first real plunge into numismatic purchasing, needs to be treated a good deal like that youngster. Both are relatively new to numismatics, and they need a dealer's attention and experience to shape their activities. The amount of money spent by investors may be larger, but time spent in cultivation will be amply repaid in the long run. The loyal customer who spends years assembling a collection will use the services of the dealer in two ways - for buying and, ultimately, for selling. The investor may have the `big bucks' necessary to buy the nicest coins, but if the purchase demonstrates no desire, then the dealer is likewise denied the opportunity to live through his clients' collections. Pleasure and pride of ownership are emotions shared in a trusting relationship between dealer and customer...
"What can dealers do to support their collector and investor customers?...
"Participation in local coin clubs provides the opportunity to meet additional collectors and perhaps move some of that lower-priced material. Local numismatic events, with their slower pace, allow dealers more time to share their expertise with collectors. Making use of the educational facilities of large collector organizations like the American Numismatic Association and American Numismatic Society can also help dealers educate and guide their clients.
"The dealer can also provide service and education to the non-collecting public, making the joys of collecting more evident. Every community organization is looking for speakers; imagine how many Rotarians there are who know nothing about numismatics. Find out about specialized community events - that two week display on Russia at the public library just might need a few coins! Sponsor a scholarship to the ANA Summer Seminar for a local youngster. Becoming more involved with the local community will spread a basic understanding of numismatics and possibly entice a few customers.
PCGS Coin Guide Table Of Contents
