Market 101: It's Not For Me

Appreciation isn’t always about the change in value from one point in time to another. Having spent decades trading on the bourse floors of coin shows, I can quantify what will appeal to most coin dealers as well as what will interest many buyers.

My evolution in “appreciation” early in my collecting career was more in search of approval because I was still learning. I wanted to be a coin dealer, and there are some rules about conducting yourself professionally in this industry, albeit many of these “rules” being unwritten. I learned to always try and be positive, regardless of the item before me. The “easiest out” I ever picked up when evaluating an item was saying, “that’s not for me,” with a ready “I don’t know” to follow.

If you can’t say something positive about a coin or set, learn to say, “It’s not for me.” I learned early to try and point out something nice about the item, but follow that up quickly with “It’s not for me.” You will almost always be met with a follow-up question of “will you make me an offer?” or “who would pay the most?” leading the list. Unless you have a fairly reliable concrete answer, reply “I don’t know.”

Some dealers who aren’t interested in buying an item from someone won’t necessarily refer that person to another dealer. But if I had hard knowledge about another dealer actively pursuing something this individual had (that truly “wasn’t for me”), a referral was appreciated and often returned by the dealer I referred. Indeed, at larger coin shows, there were always a few dealers who would make an offer (including some you might not like) on virtually anything and everything.

At some point, my numismatic knowledge and confidence gelled. Sure, I had a lot to learn, but I, too, had a high degree of confidence. I knew both where and how to look for that knowledge.

I knew what to appreciate and what to look for once I found it. You see, appreciation is so much more than the increase in value from one point in time to another. That evolution in appreciation has continued in my numismatic career. I can truly say “that’s cool” about virtually any collection that someone has spent some time and dedication building. I can appreciate both the effort and the organization, if not the collection itself – especially if “it’s not for me.”