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From my firsthand experience: coin quests are repeatable quests (the one i saw you could do 100 times) that can have specific goals you accomplish and you get a coin as a reward. The one i saw i had to kill like 15 monsters and cash in the quest at the npc that gave it to me.
My guess is that there would be another NPC that would charge/trade the coins that you get from these repeatable quests for the armor.
I think you need like 5000 coins for the whole set of armor so have fun doing 50 quests 100x each :\ (If they are all capped at 100 redoes)
On a side note: I also heard that you could gamble for the coins?? No clue if thats true or not just remember reading it somewhere.
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