Outside of going to shows, I have always been very loyal to a few dealers. But I do this for very good reason. These few dealers, I have learned over the past thirty years, are honest, willing to answer any questions, sell at reasonable (sometimes great) prices and are just good guys in general. I sometimes set out on a quest to do very tricky sets of coins, whether it is an attempt to do a proof set of three cent pieces, Trade dollars or a date run of gold, my favorite dealers are always there for me. I make decent money, but I really don't have the means to go after some of these collections. Most of the time these sets will take me years to complete. Really though, this is the way that I like it. The pursuit of difficult collections, to me, is the best way to learn about the coins, designers and history. My favorite dealers know that I am not really a wealthy guy, yet they will give me the first shot of owning some magnificent pieces. Yesterday, I walked into my absolute favorite shop in the world. Ran by a good guy named Robert, it is a small shop just outside of New Orleans, it has stacks of boxes and old folders everywhere, may be the least organized business in the world and has the best prices. Nothing prepared me for what Robert would casually toss in my direction. An absolutely stunning 1877 PCGS PR-64 CAM twenty cent piece that he had just purchased as part of a collection. I looked it over and realized that I bid on this exact coin during a Stacks auction some years ago. The price at the time went WAY over what I could or would be willing to spend on the coin. I asked if he was holding it for anybody, and he said yes. My heart sank because I realized that the next time I would see the coin, it would be much more expensive. He paused and said "I've been holding it for you for two months". Usually I try to keep a poker face while trying to negotiate a price of a coin, but there was no bluffing on this day, I and everybody else there knew I had to have it. He tells me the price, and it is well below what I was expecting him to say, in fact, it was less than I bid for it some years ago and less than half of the final auction sale price. So I ran to the bank (which to my demise is just next door to the shop) and withdrew some cash for my prize. This absolutely gorgeous 20c now resides in my proof 7070 set. The moral of the story is be loyal to your dealers and they will reward you. Please share your favorite dealer stories. PS, Although I mention only one dealer in my story, there are more than a few very honest dealers here on CT with tons of experience and have great reputations.
Amazing coin and an amazing story Kirk, I some day hope to have a network and collection of dealers and coins such as yours.
that coin glows in the dark. wow! sweet coin. there's nothing like a great dealer. some might give good prices. some teach about certain things to look for on certain coins of which I cherish for a great learning experience.
It is great to have a terrific dealer-client relationship. I attempt to cultivate these for my business and, once in a while, they are established. However, I think the majority of those in the hobby-industry on both sides of the transaction are more interested in "winning" the individual transaction at the expense of building a long term relationship.
not sure if any of you ever heard of Jordan Allgood from St. Geroge, Utah ??? anyhow....unfortunetly he was killed in his coin shop about 7 years ago. a horiffic thing for someone to kill him to get/steal coins and bullion to supply his drug habit. anyhow this murderer had been caught. I miss him so much it hurts. his best friend Troy took over his shop and I frequent it as often as I can. Jordan was so great. he would hold coins for me to look at that was new in his coin shop. he would teach me what to look for on certain coins. I'll never forget him telling me and the girl that worked at his shop to buy seated dollars. Jennifer and I looked at eachother and said are you crazy who can afford a seated dollar now ? not us. look at the price of seated dollars today. yeah good luck buying 1 now. He was so intune with the coin market. He was a good friend and teacher. I sure miss him. His friend Troy has since moved the locality of the coin shop , but in his honor still calls the shop "Allgood Coin" out of respect for his late best friend Jordan Allgood. Troy is a great guy too. his personal collection would blow anyones mind. it is that good. I encourage all of you that have good coin dealers to thank them for what they do for you.
Kirkuleez; Your moral to the story worked the same for him, since he specifically held it for you without your prior knowledge. Many individuals never take their wallet out and make a purchase, even after the dealer has given them everything they have asked for. Q. David Bowers said he always made a point of buying something from an individual who gave him outstanding service.
that is so true. even when I just went in to just look. he (Jordan) always made of point of teaching me something new about coins. no wonder I love collecting coins to this day.
I completely agree, but he held it for me for a long time and sold it for a price well below what he could have sold it for on ebay or to any of the other (much more wealthy) collectors who frequent his shop. He did this because he knew that I had been wanting one for a few years now.
It's a great feeling to walk into a shop and have the dealer say he wants you to have first shot at something new. That's something you earn. When the dealer ask you behind the counter to help when it get busy, you know he trust you. When the dealer puts you behind his desk in the back room with a new collection and ask you to pick out stuff you might be interested in, it's total trust. It's all possible when you know your dealer and become friends.
Great story & great coin! I really miss my LCS, they took care of me there. Taught me things and helped steer me in the right direction.
Great coin. What so many people do not "get" is most world class collections would never have been formed without the help of dealers. In fact, many WERE assembled by dealers, with the collector simply writing the checks. One high end collector I know uses one of two dealers to look over every coin he buys. I do not blame him, if I was dropping the kind of scratch on each coin he does I sure would want an expert opinion as well. Fortunately for me that is not my game in this hobby. Even the low end stuff I buy I find it invaluable to work through some dealers on some material. A smart collector will realize he will only ever see 1/10th of 1% of what a good fulltime dealer will see. Most great coins never are shown at shows, but sell hand to hand between dealers.
My favourite dealer stories are when I find a dealer that is willing to ship north of the border for $2 - $3. I wouldn't dare leave negative feedback when someone like that is willing to take a chance for my benefit. I have about a handful of US dealers willing to do this. Many of these relationships did start with an ebay transaction that clearly stated "LOWER 48 ONLY!" I don't buy very expensive coins often, usually a $10, $30 or $50 transaction keeps me happy. However, once in a while, when I get my heart set on something in the $100 to $300 range, I always check first with those dealers that took the time to ship the $10 items for $2 - $3. They could have easily made a $10 purchase cost $20, especially with today's postal rates and options. Of course, the price for shipping the more expensive purchases is higher, because the weight or value is now higher, but, at least it's proportional to the item price.
