Often, Gail has to make a determination as to whom a
newly-purchased coin should be offered, and she makes this decision based upon
these factors:
- Does she know the client through earlier personal contact
by telephone or letter? Is he a "nice guy"? Is he pleasant to do
business with? To be frank, life is too short to do business with people who
constantly complain, who don't like dealers (some buyers take an adversary
position toward all dealers), or who want to buy the finest possible quality at
prices below which we ourselves would pay.
- Will he appreciate the coin once he gets it? Someone who
needs a coin to fill in the last item in a type set or collection, or who has
been looking for a particular piece for a long time, will appreciate it more
than someone who has just decided he wants to own a particular variety but who
hasn't spent time searching for it.
- Will he pay for the coin promptly? Or, if the coin is not
to his liking, will he return it promptly?
- Is he an established client of the firm?
Gail Watson, who also manages the Collection Portfolio
Program for Bowers and Merena Galleries, uses basically the same criteria when
confronted with multiple clients for a single rarity.
Other Ways to Acquire Coins
While buying coins directly from dealers or by
participating in auctions and mail bid sales (see subsequent commentary on the
subject of bidding) represent the ways that most coin buyers add to their
holdings, there are other methods as well. These include:
- Mints and government agencies: Buying directly from
issuing mints and government authorities provides a way to update your
collection with newly released issues. For example, each year the United States
Mint offers Proof coins, mint sets, bullion pieces, and other current coins for
sale.
- Banks: Buying current Uncirculated coins at face value
from banks is a good way to acquire Lincoln cents, Jefferson nickels, etc. as
they are issued. Some banks offer bullion-type coins and current commemoratives.
- Pocket change: Finding coins in circulation is the way
that many people get started in the hobby. Today it is virtually impossible to
find rare varieties in circulation, for most coins in the channels of commerce
are apt to be dated this side of 1960. However, the possibility exists for
finding 1972 Doubled Die cents and certain other scarce pieces of the present
era.
