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Will you be getting the big fruit basket from your dealer this holiday season, or the tri-flavored t
Longacre
Posts: 16,717 ✭✭✭
Now that the Holiday season is upon us, it is the time for all good numismatic dealers to thank their loyal customers for funding their second home in Maui, their ski chalets, and their matching pairs of Ferraris. I don’t think too many people know this, but there are different levels of holiday gifts that go out to FOTF (Friends of the Firm). The type of gift that you get is directly related to the amount of money that you spent with the dealer in the previous year. In addition, there is no “bracket support” from year to year, meaning if you achieved a certain level in a particular year, you will not be guaranteed to be at that same holiday gift level in the subsequent year. Each numismatic year stands on its own, and past purchases are not an indication of future numismatic holiday gift performance. As a service to board members, I was able to gain some insight into coin dealers’ holiday gift rankings to clients, which I provide below.
(1) Level One: amount client spends with dealer during year: $1- $1,000
This is the lowest rung on the holiday gift list for dealers to clients. This gift is merely a card from the numismatic firm (and a generic, non-religious, politically correct one at that). There are different levels of cards, depending on your level of spending at the firm during the year. For those at the lower end of the range, the dealer will not even take the time to sign the card personally. He might get generic cards printed with the name of the firm on the inside. Not even the dealer’s initials in the card are required for this lowly client level, let alone his full signature. For those at the mid to upper range of Level One, the dealer might actually sign the card, or at least have his secretary sign for him. If you receive a card like this, it is a subtle hint by the dealer to up your spending in the subsequent year. Below is a typical card that you will receive if you are a Level One client:
(2) Level Two: amount client spends with dealer during year: $1,001 - $5,000
At this level, things get a little bit better for the client who has spent up to $5,000 of his hard earned money with the dealer. However, one could argue that the holiday gift at this level is even worse than the gift at Level One. At this level, the dealer usually sends you a numismatic book. I say that this level is worse because the dealer typically has the book in his inventory anyway, and just wants to get rid of it. The books were probably purchased for inventory at a steep discount, and it is possible that the value of the book is less than the card in Level One. Additionally, the dealer probably has an auto ship mechanism for the books, and does not even have to stuff a card or lick a stamp to get this gift to the Level Two client. The dealer also runs the risk of the client not knowing why he received the book, because there is no other information sent indicating that it is a gift. The client thinks he will soon see a bill for the book, and therefore avoids the dealer for several months in the following year until the client thinks that the receivable is written off of the dealer’s books. Surprisingly, this gift actually hurts the dealer. Below is a typical Level Two gift:
(3) Level Three: amount client spends with dealer during year: $5,001 - $10,000
Now the client is getting somewhere, because it takes some planning by the dealer to provide this holiday gift to the client. At this level, the client is assured to get the big tin of tri-flavored popcorn. This is a difficult one for the dealer, because he actually has to choose the popcorn flavors to send to each client. Does he send the chocolate popcorn, the carmel corn, the white cheddar or the orange cheddar? Or stick with basic plain popcorn? The dealer has to know the client pretty well, because if the popcorn was popped in peanut oil, he could very well kill his client, thereby eliminating a future source of revenue to the firm. Therefore, at this level, you are almost considered a FOTF, and by getting the big tin of popcorn, you know that you just have to do a little bit more business in the following year to reach the coveted Level Four. Here is a typical Level Three gift:
(4) Level Four: amount client spends with dealer during year: $10,001 +
This is the promised land of holiday gifts from your dealer. You know you’ve made it if you get a Level Four gift. The dealer also knows that he has a Big Fish™ on the line, and goes all out with the holiday gift. This gift consists of the big fruit basket. But it is not only a fruit basket. It also contains all of the extras that are available, such as the salty crackers, the little jars of jellies and preserves, and even a little foil packet of spreadable brie. If the dealer is feeling particularly generous with the client’s purchases during the past year, he will click on the option to include the Munson’s Chocolates and even chocolate truffles, not just the carmel chews. The salmon option is selected for only the very choicest of clients. The client rejoices when he sees the delivery man pulling up with the big fruit basket, tears open the card, sees it’s from his preferred dealer, and then, like a crazed groupie, immediately writes a check to buy anything that happens to be in the dealer’s inventory. The client and the dealer are both filled with yuletide joy, which borders on becoming a full-borne frothy numismatic frenzy. Below is a typical Level Four gift:
(1) Level One: amount client spends with dealer during year: $1- $1,000
This is the lowest rung on the holiday gift list for dealers to clients. This gift is merely a card from the numismatic firm (and a generic, non-religious, politically correct one at that). There are different levels of cards, depending on your level of spending at the firm during the year. For those at the lower end of the range, the dealer will not even take the time to sign the card personally. He might get generic cards printed with the name of the firm on the inside. Not even the dealer’s initials in the card are required for this lowly client level, let alone his full signature. For those at the mid to upper range of Level One, the dealer might actually sign the card, or at least have his secretary sign for him. If you receive a card like this, it is a subtle hint by the dealer to up your spending in the subsequent year. Below is a typical card that you will receive if you are a Level One client:
(2) Level Two: amount client spends with dealer during year: $1,001 - $5,000
At this level, things get a little bit better for the client who has spent up to $5,000 of his hard earned money with the dealer. However, one could argue that the holiday gift at this level is even worse than the gift at Level One. At this level, the dealer usually sends you a numismatic book. I say that this level is worse because the dealer typically has the book in his inventory anyway, and just wants to get rid of it. The books were probably purchased for inventory at a steep discount, and it is possible that the value of the book is less than the card in Level One. Additionally, the dealer probably has an auto ship mechanism for the books, and does not even have to stuff a card or lick a stamp to get this gift to the Level Two client. The dealer also runs the risk of the client not knowing why he received the book, because there is no other information sent indicating that it is a gift. The client thinks he will soon see a bill for the book, and therefore avoids the dealer for several months in the following year until the client thinks that the receivable is written off of the dealer’s books. Surprisingly, this gift actually hurts the dealer. Below is a typical Level Two gift:
(3) Level Three: amount client spends with dealer during year: $5,001 - $10,000
Now the client is getting somewhere, because it takes some planning by the dealer to provide this holiday gift to the client. At this level, the client is assured to get the big tin of tri-flavored popcorn. This is a difficult one for the dealer, because he actually has to choose the popcorn flavors to send to each client. Does he send the chocolate popcorn, the carmel corn, the white cheddar or the orange cheddar? Or stick with basic plain popcorn? The dealer has to know the client pretty well, because if the popcorn was popped in peanut oil, he could very well kill his client, thereby eliminating a future source of revenue to the firm. Therefore, at this level, you are almost considered a FOTF, and by getting the big tin of popcorn, you know that you just have to do a little bit more business in the following year to reach the coveted Level Four. Here is a typical Level Three gift:
(4) Level Four: amount client spends with dealer during year: $10,001 +
This is the promised land of holiday gifts from your dealer. You know you’ve made it if you get a Level Four gift. The dealer also knows that he has a Big Fish™ on the line, and goes all out with the holiday gift. This gift consists of the big fruit basket. But it is not only a fruit basket. It also contains all of the extras that are available, such as the salty crackers, the little jars of jellies and preserves, and even a little foil packet of spreadable brie. If the dealer is feeling particularly generous with the client’s purchases during the past year, he will click on the option to include the Munson’s Chocolates and even chocolate truffles, not just the carmel chews. The salmon option is selected for only the very choicest of clients. The client rejoices when he sees the delivery man pulling up with the big fruit basket, tears open the card, sees it’s from his preferred dealer, and then, like a crazed groupie, immediately writes a check to buy anything that happens to be in the dealer’s inventory. The client and the dealer are both filled with yuletide joy, which borders on becoming a full-borne frothy numismatic frenzy. Below is a typical Level Four gift:
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
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Comments
I'm confused as to why it's not on your list?
Lincoln set Colorless Set
Total Copper Nutcase - African, British Ships, Channel Islands!!!
'Do not meddle in the affairs of dragons, for you are crunchy and taste good with ketchup'
That said, my wife gets showered with gifts from law firms, and since it is rich lawyers giving the stuff away, I do not want the gravy train to end. One firm even buys holiday gifts that are handpicked for our children.
<< <i>That said, my wife gets showered with gifts from law firms, and since it is rich lawyers giving the stuff away, I do not want the gravy train to end. One firm even buys holiday gifts that are handpicked for our children. >>
You must sue a lot of people.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Last year I got a dealer's Christmas season greeting card with postage due. When I opened it, the envelope was empty. I know who sent it 'cause the return address was put on with a rubber stamp.
Well, now I know where I stand....
<< <i>Hmmm:
Last year I got a dealer's Christmas season greeting card with postage due. When I opened it, the envelope was empty. I know who sent it 'cause the return address was put on with a rubber stamp.
Well, now I know where I stand.... >>
Well, now Rodney Dangerfield has passed away, so he won't be sending you this card this year!
An authorized PCGS dealer, and a contributor to the Red Book.
>>>My Collection
<< <i>My gosh - this is a real book!
It's actually not bad a book. I read it. I bought it used on Amazon for 19 cents!!!!!!
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Only if the us mint or ebay starts gift giving.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
<< <i>I received a basket of Montana made candies and jams. Also get an invite to a Christmas dinner. >>
I'm moving to the Three Forks area.
Why step over the dollar to get to the cent? Because it's a 55DDO.
I'll be lucky to get the popcorn ball wrapped in the red,crinkly cellophane wrapper ,tied with a piece of cheap
ribbon this year.
I would suspect I'm getrting a lump of coal this year from local dealer...spent all $$$ at Gov.com
"Keep your malarkey filter in good operating order" -Walter Breen
market stinks and you are a regular buyer you get the coolest stuff
from the state they are located in. Maple Syrup, chocolates, NJ dealers maybe a gangster or .......
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
Try it some time just for giggles.
A couple of dealers have taken me out to dinner at Morton's when they attend the Baltimore show.
Perhaps the best gift was that a dealer gave me one of their company's polo shirts with a reasonable request that I don't wear it to a coin show when they are there. Great shirt!
The truth is that most corporate gifts are given to a list of names, not personal contacts, and the "Thank You" will in all likelihood put your name on the list for the next year. I have a nice collection of single malt Scotch thanks to several large companies with whom I have only the smallest of contact. The fruit and candy baskets are nice, too.
That is just evil. Thank you for the suggestion
Hilarious post. I'm afraid I haven't qualified for anything in several years!!
Jack
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
Successful, problem free and pleasant transactions with: illini420, coinguy1, weather11am,wayneherndon,wondercoin,Topdollarpaid,Julian, bishdigg,seateddime, peicesofme,ajia,CoinRaritiesOnline,savoyspecial,Boom, TorinoCobra71, ModernCoinMart, WTCG, slinc, Patches, Gerard, pocketpiececommems, BigJohnD, RickMilauskas, mirabella, Smittys, LeeG, TomB, DeusExMachina, tydye
What level of purchases gets you a brick of fruit cake?
<< <i>To resurrect an old holiday post - ho! ho! ho! >>
No wonder I couldn't open any of the links!
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
Successful, problem free and pleasant transactions with: illini420, coinguy1, weather11am,wayneherndon,wondercoin,Topdollarpaid,Julian, bishdigg,seateddime, peicesofme,ajia,CoinRaritiesOnline,savoyspecial,Boom, TorinoCobra71, ModernCoinMart, WTCG, slinc, Patches, Gerard, pocketpiececommems, BigJohnD, RickMilauskas, mirabella, Smittys, LeeG, TomB, DeusExMachina, tydye
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Would love to hear some stories from Legends big customers.
Nothing for the last 3 years.
Guess volume is everything.