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Black Friday Specials For Coins?
November 28, 2008

Black Friday Specials For Coins?

Today is Black Friday, the day of great big, fabulous retail sales, the day that pushes big retail outlets like Walmart, Target, Best Buy and Amazon over from the red to the black of their accounting legers. Those retail outlets count on lots of sales today, they have to see lots of dollars flowing in, or we can all expect more bad economic news.

I went around online and checked out several sales last week and even more this morning. Found plenty of good Black Friday deals, some were just good prices, a few were what seemed to me stunningly discounted. Mostly, I look at DVD's, video games, electronics, books and such guy stuff. Filled out a few items on my families Christmas wish list!

The point of this great shopping day, however, seems to be lost on many specialty retailers. I particular, I am thinking of coin dealers and publishers. We really don't put on any big push for Black Friday sales and as a result, we don't experience any boost in revenue from this highly recognized shopping blitzkrieg.

Of course, with coin dealers, especially in the secondary market, big sales are difficult because supply is limited. To draw margines in so tight takes a good deal of volume, which secondary market retailers do not have. The benefit of bringing in more customers with a loss leader product, however, would be great for coin dealers. New customers mean more initial business on the day of the sale, plus more return business all year long. It's worth pondering a bit.

For publishers, it should be a given. We should always have a few Black Friday specials on our website. I would love to see Coin Digest at a super discount on Black Friday and maybe the Standard Catalog of World Coins 2001-Date, or even the venerable Standard Catalog of World Coins 1901-2000 for maybe $25 or so to blast our the past years edition.

We do often run special sales at the KP Books website and our company now has a Email to friend   Print

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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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