Hi Vinnie,
Coupons are something you set up with a discount percentage. Go to Your Shop: BelfryWoodcrafts, and you'll see coupon codes at the bottom of the list. You can set one up, and announce it in your About page, or tell your Facebook friends, or staple it to a telephone pole on your street. When people go it buy one of your items, they enter the code during checkout, and they get a discount automatically.
I used to give out coupon codes to encourage repeat customers, but it seemed kind of cheesy. Some people offer them in team forums. I think I've only had one customer that used one of my codes.
You can turn them on or off at any time, but you can't reuse the same code if you delete one.
Cheers!
Jerry