Dealer Specialization
TommyType
Posts: 4,586 ✭✭✭✭✭
Don’t know that this question/topic is all that important or interesting...
But has dealer “specialization” kind of gone away in the last decade or so? It occurred to me recently that there are fewer and fewer specialists dealing at shows.
I remember when J. H. Cline was THE Standing Quarter guy. There were a couple of female dealers (forget their names) specializing in Liberty Nickels and 3-cent nickels. There was another guy with only “monster” toned Morgans. Bust Halves had their expert dealer(s) (Keen and Osborn?), and old copper had theirs. Quality Barbers had their proponent dealers. Cameo late date proofs had their expert dealer. I'm probably missing many areas....
Some of that still exists now, particularly in the copper specialty....(Both large cents/half cents, and Indian/Lincoln cents). But some of those old timers are getting up there in age. (No offense...ain’t any of us getting younger).
But it seems that NOW most everyone else is willing to stock just about anything. They are generalists. The specialization, if there is any, seems more along price lines. Some may deal in the coins up to $500, others from $500 up to $1k, others from $1k to $5k, and others “anything above that”. (Pardon me for not differentiating more above that...My eyes don’t see up there very well). 
But any table has the potential to have a quality SLQ, or Bust Half, or toner Morgan.
Any reason for that? Or was it that the brief “age of specialization” was really the oddity?
Is there any advantage that we are losing by not having specialists, and instead having mostly generalists?
On the other hand, do prices tend to stabilize at a lower level when the “best of the category” are no longer handled by the same person?
As for me: I always preferred a good “generalist” table. As a type collector, who wants to see a dealer with only ONE thing?!
Comments
When you specialize in a particular series or type coin you tend to narrow down the customer base. Unless you have a very good following this can drastically limit sales. One of my specialized areas is silver washington quarters but you won't see me with a table full of them.
I actually try to buy from specialized dealers.
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Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
The internet killed specialization. 25 years ago, if you wanted a tough SLQ, you would go to Kline. If he did not have it, he would know where to get it. You would have to pay up for this and people did not really have a frame of reference as to what the market might really be. Now, with the exception of early copper, absolute specialization has gone by the wayside. If specialist A has a certain coin and you find generalist B has the same coin at 70% of the price which is someone going to buy. Of course it assumes both coins are the same grade, same service, same quality and same level of stickerage. Specialists are finding it harder and harder to profit from their superior knowledge of a series. Look at ancients. Every generalist has a half dozen NGC graded ancients in their cases now vs. 10 years ago where you would not see a single ancient outside of specialists.
Yes Cline good example. He definitely ran with great idea.
When u specialize your narrowing customer base. I have been a generalist this can increase stress / inventory management challenge but u learn new areas.
As far as vintage coins I have seen specialists focusing on halves, dollars, Commems. Others have become bullion specialists having both slabbed and raw - there is an art to laying out a roll of gold eagles across the table it looks like treasure drawing buyers I understand. These guys operate on low spread / quick turnover. Lots stress traveling w fortune in bullion coins.
I have considered / dreamed of specializing in something like Texas Halves plus a mix of various classic Commems. I am no competition for the guy with a case full of slabbed dollars all stacked 6 deep. Putting some of the keys at top of stacks of 63 generics make case look good?
I have not had self dislipline it takes to be a specialist. But just think specializing narrows price guide costs and w everything on just page or so research quick / easy retention less stress.
I'd consider Doug Winter or Al Adams "specialists" if you are looking for branch mint or rare gold. I'm sure there are others but these are two I know that come to mind.
it's crackers to slip a rozzer the dropsy in snide
Agree. Specialists still exist. It was just my impression that it's a somewhat thinning herd.....
I specialize and I don't think I'm that old.... yet! Rick Snow specializes, as does Angel Dees, Larry Shapiro, and a few others I know.
The Penny Lady®
Specialists today, are more noted for their knowledge than their wares... although, as Charmy noted, there are also several specialists who buy and sell extensively in their field of expertise. Cheers, RickO