First, let’s define what cash means. Cash is the green stuff. Of course, newer bills have some color as well. Our cash contains denomination specific presidential pictures, watermarks and security threads on a paper-like substance made of 25% linen and 75% cotton fibers.
Now, you visit a coin show, find an addition to your collection and decide to buy it. You’ve done your homework and agree with the dealer on a price. Next, the dealer says, “That’ll be cash, please.”
Not really thinking about what he said, you pull out your check book instead of your debit or credit card. He repeats, “That’ll be cash, please.”
Being a progressive person, you are fully in tune with the electronic age and carry a debit card, a credit card and a check or two. You rarely carry cash. Well, in these days and times, cash is still king.
Some cynics will think coin dealers want to hide their revenue by asking for cash. But, think about it. In this electronic age and with all the identity theft, credit card theft, debit card theft and fraudulent checks, cash is still the most difficult to counterfeit. If you know what to look for, and these guys do, cash is the best option.
At the show, you don’t have the necessary cash, but you do have several options. One alternative is to have another coin dealer with whom you have an ongoing relationship to vouch for you. Another alternative is to have the dealer hold the coin you want while you find an ATM machine. The best alternative is be prepared with cash beforehand.
Put yourself in the dealer’s shoes. He doesn’t know you. You could be the most honest person in the world or the most criminal. Think about it, these dealers go to many shows and have been burned in the past. There’s the old saying, “Fool me once, shame on you; fool me twice, shame on me.” They’ve learned from trusting the wrong person in the past and want cash.
Until you build that relationship with the dealers, taking cash to a coin show is the best plan.