Would You Ever Let A Dealer Build Your Collection?
FlyingAl
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This was briefly mentioned in another thread, and it certainly seems a little more common now than in the past, especially when it comes to major collections.
Would you ever let a dealer build your collection, or do you choose the coins yourself?
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This is a really interesting topic, and I think there are good arguments both ways.
On the one hand, letting a dealer build your collection can make a lot of sense, especially with major sets or when you’re working at the very high end of the market. A skilled dealer has years (or decades) of experience, an eye for quality, and connections that the average collector simply doesn’t have. They can secure coins before they ever hit public auction, steer you away from problem pieces, and make sure the set you’re putting together is consistent in terms of grade, toning, strike, and overall eye appeal. If you’re someone who views coins primarily as an investment, or if you don’t have the time to do the research and legwork yourself, having a dealer curate the collection might actually be the smartest route. That’s why some of the really famous collections out there were essentially dealer-built.
But there’s another side to it. For many collectors, the entire appeal of the hobby lies in the hunt. The satisfaction of researching, attending shows, bidding at auctions, and ultimately choosing your coin is a huge part of what makes numismatics rewarding. When you hand over all the decisions to a dealer, you might get a technically better set, but it can also feel less personal—more like their taste than yours. Plus, the coins you choose yourself often carry stories: where you found them, why you chose them, and what appealed to you at the time. That kind of connection to the collection is hard to replicate if someone else is making all the calls.
Personally, I think the “middle ground” approach works best. Use a dealer as a trusted partner—lean on their expertise, connections, and market knowledge, especially for tougher or high-value purchases. But don’t let them completely take over. At the end of the day, the coins should reflect your taste, your priorities (CAC, toning, rarity, strike, provenance, etc.), and your long-term goals for the collection. That balance gives you both the quality and cohesion a dealer can bring, and the personal enjoyment that comes from building the collection yourself.
Proud follower of Christ!
I would let multiple dealers help me look for tough coins, but I don't think I would want just one to build the set for me. Part of the thrill is the hunt.
I would never have any dealer put together a collection for me. I do have a couple dealers contact me when they come across something that would fit nicely into my collection. That said, I will make the final decision if I’m buying or not buying the coin.
No, too much risk of this becoming a completely passive pastime, at least for me. I enjoy the search.
There are some areas where it would be difficult to build a set without a major dealer helping you. Many coins in high grade registries are sold via private treaty, so if you dont have the inside contacts, you may never see or even know the coins were available.
Personally, I have used dealer contacts to help me find a couple extremely difficult to locate items, but with the caveat that I want to see it and approve it before purchase. For the vast majority of my collection though, I enjoy looking at coins and picking them myself, and I would not enjoy someone else doing the legwork and just writing a check to fund it.
No. I wouldn't let CAC build my collection either. No one knows what I like better than me.
If he was someone who specialized in what I was looking for and actually proactively searched, then 'maybe'. If he just filed my list away, in some cabinet, and never reached out to me, then 'no'. If he only bid on Heritage and such sites and used my info to bid against me to drive up the price, then 'BIG NO'. The BEST strategy for me is to find dealers who specialize and then frequent their sites and become friends with them. That would be more effective than trusting a dealer to act on my behalf or giving them a 'carte blanche'. The problem with something like Early Walkers is that they are NOT something that can simply be searched for and found just anywhere. I don't care how large or successful that dealer is. It's something that could turn up anytime, at random, and could take YEARS. Also, I am VERY picky and know exactly what I like and what I'm looking for. I wouldn't trust a dealer to have that type of acuity or intuition.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I wouldn’t, but I can see how it would make sense for some people.
And FWIW, there are some non-numismatic collectibles that I would enjoy owning that I would only collect if I had an expert dealer doing it for me. Mostly because I don’t have the time and expertise to do it for myself. At least not well.
Doggedly collecting coins of the Central American Republic.
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I'm in the position with my primary collecting interest where I will need to have a dealer assist me find the coins I want to buy. I have a target list of specific coins, specific dates and denominations from prior sales and the TPG data. I mostly just don't know who owns it. The vast majority I haven't ever seen for sale, though I was outbid on a few, chose to pass on a few others at the time, and wasn't aware of the sale on a few more.
If I were a busy millionaire, yes. I’d use brokers for an automobile collection too.
I wouldn't let a dealer or anyone put together or build a collection for me. It would seem to defeat the point of collecting or joy of creating your own collection. Unless you're a collector of other peoples collections. I'm not.
No, bumbling around like an amateur is too much fun.
I started my favorite 1896 Isla de Puerto Rico collection by stumbling into a coin I knew nothing about and buying it at a random shop in a different state. Good times.
Llamas and alpacas are camels. They aren't like camels, or related. They are camels. When was anyone going to tell me this?! How long had Bill Nye been holding out on us?
Dealers can be a great asset when completing a collection, but I wouldn't rely solely on them. It's a great feeling to find and acquire a great coin on your own.
I buy all of the coins for my collection. 99 percent are seen in hand before purchasing.
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Also isn't the whole point of collecting to buy coins you like and pass on ones that you don't? How will you know that if a dealer curates your entire collection?
Proud follower of Christ!
Some collectors would prefer that, at least one dealer has made her mark by building the best registry collections for very well heeled collectors. Would not be my choice overall but I have worked with a specialist for a few coins that I was having trouble locating.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I totally agree with this standpoint. In my opinion, there's nothing wrong with having someone else help find the esoteric or hard-to-reach coins. Dealers, undoubtably, have more time and connections in the business, and having an extra person to do some of the legwork would reduce the amount of time spent on your end.
In fact, lots of great collections have been formed with the help of a dealer, sometimes even multiple ones.
For me though, if a dealer is assembling my entire collection for me, they're basically just building a collection tailored to their own interests.
Proud follower of Christ!
I think @pcgsregistrycollector nailed it in his post. I do think it depends upon what one is collecting. High end rarities are hard to find and acquire. Select dealers who have experience in difficult high end coins have a perspective that the collector normally doesn't possess. I think it this case, using such a trusted dealer makes a lot of sense if for nothing else than to avoid expensive mistakes.
For most of us, what we collect is available in a reasonable time frame and I enjoy the hunt. I think at my level of collecting, assembling a collection involves a variety of sources without having it sifted through a single dealer. In many respects, I think a collection comprised of this source diversity demonstrates the commitment and discerning eye of the collector.
"Got a flaming heart, can't get my fill"
I would let the dealers hunt for the coins for me but I would want to have the final say on what I buy.
I am reading about Abe Kosoff and it sounds like most of the major collectors in the 1930s-1950s used dealers to acquire the big player level coins. Of course that was a different time, when a comprehensive Eliasberg-type complete collection was even possible. But I disagree that more collectors use dealers today to build major collections than in the past (considering percentages, of course there are more quantity collectors today). In the days of pre internet, acquiring coins was more of a hunt, a chore to an extent if even possible, while nowadays all the big player coins filter through a few auction houses that host online auctions.
But this thread seems conclusive that nearly all low to mid level collectors do not use dealers and much enjoy the hunt. I fall under this category.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
Multiple dealers for very pricey or very difficult coins. Otherwise a lot more fun to hunt. As others have said, some collectibles would require expert help to price, avoid fakes, alterations, etc.
I like the idea of dealers helping me hunt for stuff, but much more than that and it would not really feel like I was actively participating and the hunt for me is a big part of the enjoyment.
Interesting thread.
For myself, the thrill is the hunt, the research, the grind ... so to speak. And of course, some coins just speak to me. So, although I have asked for help from a few dealers, and would certainly welcome it, it would still have to be my decision and my discretion.
Not that some dealers wouldn't know exactly what a "Todd Coin" would be, but they may have 20 such collectors like myself they are trying to help ... and so how does that work?
It would be nice to have a never ending stream of kick-a** material made available to me first ... whenever they see or uncover it ... but if I'm a bit of a picky buyer and on some semblance of a budget, where I may not buy a huge amount of coins each pass, especially nearly everything they know I would like, how can they spend the time and effort? I get it.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
I like doing it myself, which is a big part of the fun, but it's immensely helpful to have a close relationship with a seasoned dealer, who can review your coins, give unbiased critique, and who can help you build a world-class collection.
No. Coin collecting is a do-it-yourself hobby.
If dealers know what I want, then they'll bid me up or I'll bid them up on an item I want to buy. Thus, the goodies cost me more $. I dropped out bidding higher on several error coins at Heritage last night. Stuff went cheap, but not crazy cheap. I am excited to see what bubbles up into inventories next couple weeks.
No I prefer making my own procurement decisions as far as RCI strategy.
My budget allows for me to buy mostly mid-four figure coins. Up until recently, I’ve bought all of my coins mainly via auctions and the rest from dealers, with a few via eBay. That has worked out well.
Recently though, one of the sets I decided to put together has low pops in the grades I seek. After buying two high grade low pop coins from the inventory of the dealer in question, she took it upon herself to “find” coins for me. I was offered these coins before she showed them to others or put them on her website! How fortunate is that? Naturally, I had to always approve the coins (and pricing). But you know what? Without exception, I bought EVERY one offered, and as it turned out, every coin was even nicer in hand than the photos! Additionally, the pricing was always super fair for the grades, with very limited pops! She works on a very tight and fair profit margin!
At times she buys coins without CAC stickers, and she submits them to CAC stickering in NJ. If they pass (and she has an excellent eye), then she offers it to me! Sometimes she tries to cross coins from other TPG’s, and if successful, then they become mine! How lucky am I? Recently though, that has become more difficult.
I still buy coins on my own for this set too, as she cannot magically get coins for every slot with these limited pops. There’s a coin in an upcoming auction that I plan on buying. As such, this set is being assembled utilizing a combination method.
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Having a dealer or other persons putting toghther a collection is NOT collecting coins
it is no more than just buying coins..............
No.
No 👎
This is my approach- expressed very well here! For example my proof Morgan collection- 2/3 of the coins I have acquired on my own through the thrill of the hunt- auctions, friends, dealers, coin shows, and 1/3 have been direct finds by my dealer- typically the ones he finds are the more elusive coins I probably wouldn’t have had the opportunity to buy or even find on my own. Together we make a great team, but I’m driving the bus, navigating by my own personal taste in coins.
No, I wouldn’t let anyone else build a collection for me. That wouldn’t be any fun at all.
Mr_Spud
I don’t know of anyone in my contact network doing that. Numismatic investment is risky and the players I know prefer making their own investment decisions.
There may be players who commission a dealer to do there procurement, that’s their decision.
Exactly! I totally understand why a person might do it, especially if the real project is in some sense to have the best attainable everything, or if it involves things that are really, really hard to find, and/or if a lot of money is at stake. On the other hand a lot of what I enjoy when I view my collection is the memories associated with finding and acquiring each of the things -- where was I, who was I there with, what shenanigans were necessary to fund the purchase, what totality of circumstances surrounded that moment in my life, and so on. I don't think tasking a dealer with executing my collecting project would give me as much of any of that.
No, but in the same way, I’ve dealt with many collections over the years where it was obviously just filling holes with whatever. It may be a full set or series or even missing keys….. and there is where actual value tells the tale. So my answer is no, with one caveat : I will absolutely use dealers to help me achieve better material, as collectin and upgrading goes.
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It depends as to the collecting goals and objectives...
If money and a collecting budget was not an issue and I was seeking a superb GEM set of a challenging series, then yes as some help would be required to make that happen.
It has become harder and even a great challenge to find the coins I seek with the look. There are limitations and those limitations often lead to decisions that are not easy and ones you have to live with. And I am not complaining about that but I doubt that the totality of what needs to be considered receives the attention it deserves in answering the question...
Is this coin as good as it gets for me?
And that answer really will vary based on expectations. And those expectations need to be realistic.
Experience the World through Numismatics...it's more than you can imagine.
Not Cougar...
All comments reflect the opinion of the author, even when irrefutably accurate.
That's kind of how my Tibet collection started. I had been looking through the Pick catalog and noticed the Tibetan paper money. Coincidentally, a couple weeks later I was in my friend's store and he had just come back from a show and there was a Pick#11 on top of a pile of miscellany. It was only $10 or $12, so I bought it. The rest, as they say, is slightly expensive history.
All comments reflect the opinion of the author, even when irrefutably accurate.
If I had the money I would have Laura of Legend on speed dial.
If I had to speak for any dealer, I would say that Ian Russell of GC has done a tremendous job acquiring coins for Elite's fabulous collection. Just my opinion.
Proud follower of Christ!
After unsatisfactory transactions with top dealers in coins I collect, I'd be reluctant to turn over coin selection to people with different tastes than I have. Their "beautiful coins" have turned out to be chrome bumpers with a little bit of toning around the rim = returns or cleaned coins that get details grades.
For hard-to-find material, I can see working through a dealer. However, that doesn't match to fun of finding a raw coin you like and having it straight graded and stickered. It pales to the fun of landing a nice, scarce coin or cherry pick off of Heritage Auctions. That's what I like about the hobby.
You're not going to achieve any "You suck!" glory working with a dealer. So much of the fun in this hobby for me is the hunt.
Raw off eBay
Heritage
Coin show junk box for $2
I see all sides and the pros and the cons. However, to me this is mainly a hobby, thrill of the hunt and a means to engage people from all aspects of life. Take those away for me, what remains?
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
I always appreciated their insight, knowledge, and especially their access to nice coins, but the final decision was always mine. BTW, I take the same approach to investments, cars, and just about everything else in life. Nobody cares as much about my interests as I do.
Yeah, but only if I were a dealer.
Young Numismatist • My Toned Coins
Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled
1 or 2 coins - yes. But the whole thing? Where’s the fun in that. The hunting and research is part of the hobby for me.