ITINERANT BUYERS INVADING MAINSTREAM RETAILERS Público Deposited
The E-Sylum: Volume 7, Number 43, October 24, 2004, Article 15
ITINERANT BUYERS INVADING MAINSTREAM RETAILERS
On a different topic, Dick Johnson writes: "We have all seen
their ads. Full pages wanting to buy gems, jewelry, gold, silver
and coins! My mouth popped open this Sunday morning at
who is sponsoring the latest buying action ? J.C. Penny!"We are buying; 3 days only!" screamed the headlines. The
desiderata was illustrated. Diamonds, jewelry, silver, watches
all had small pictures. Coins were pictured twice the size of all
others. Silver dollars, gold, even subsidiary silver were shown.
"We want U.S. gold & silver coins & currency" reads the
caption.The pitch is aimed at senior citizens. "Quit insuring it, dusting it,
hiding it or worrying how your kids will dispose of it." Another:
"I certainly couldn?t expect to wear this to the mall or take it
to the nursing home!" Easy targets!Formerly these itinerant buyers would set up in a suite of
motel rooms for a couple days, then move on. If mainstream
retailers are now involved ? they are undoubtedly receiving a
piece of the buying action. But don?t expect to buy the
acquired silver dollars and gold coins at the jewelry counter
of your nearest J.C. Penny store."[When I was a wee lad just starting to collect coins, the major
downtown Pittsburgh department stores (Gimbel's, Kaufmann's)
had coin departments. At the time, many major department
stores had such departments. So maybe it's time to revive the
concept, but just why did the practice die out in the first place?
People still shop in department stores and malls, but few coin
stores are seen. It is just that the rent became too expensive
to allow a coin business to thrive? Were the stories worried
about liability issues? Also, does anyone have recollections
of the Golden Age of department store coin shops? -Editor]- 2004-10-24
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