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]

  Wayne Homren, Editor

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