Coin Dealer Traits - Is there a Coin Dealing Gene ?
By Doug Winter - RareGoldCoins.com
Coin dealers are an “interesting” (yes, this is an ironic use of quotes) group. If you were to take the top fifty professionals in this field and examine their personalities, I believe that a number of the same traits would be seen in a majority of these individuals. What are some of these traits? And do you have what it takes to be a successful coin dealer?
With very few exceptions, most of the top coin dealers have been involved in coins since they were very young. I can’t think of more than one or two coin dealers who I regard as being at the top level of the industry who were not buying and selling coins by the time they were in their early teens (or in some case, before this). Many people have asked me why this is the case. I think that being a good coin dealer is something that is almost genetic in its origin. You can’t really teach an adult the skills to be a truly good dealer. It’s almost as if the top dealers were born with a “coin dealing gene.” If you are a 42 year old insurance salesman with a passing interest in coins, it’s pretty unlikely that, within a few years, you are going to be a force on the bourse floor.
And speaking of genes, I think that every good coin dealer has what I call the “collecting gene.” Even though I don’t really collect coins anymore, there are a number of other areas that I avidly collect. Virtually every great dealer I know is also a serious collector of something; and many have multiple non-numismatic collections. These range from paper money to vintage photographs to globes to muscle cars. If you do not have a passion for collecting, you probably aren’t going to amount to much when it comes to dealing.
Coin dealers have exceptional memories when it comes to coins. I think I qualify pretty highly in this regard but my memory is very selective. As an example, it usually takes me a number of times meeting a collector until I remember his name. But I can generally remember this collector’s coins that he showed me in 1984 and, more distressingly, in great detail. I find the same to be true with many other of the dealers who I respect. They have an absolutely uncanny ability to remember coins they have handled, deals they have done, auctions they have attended, etc. If you have a poor memory when it comes to details, you are not likely to become a good dealer, let alone a great one. (more…)


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