I didn't read the original post as Vic calling me out -- I took it to mean if he bought his first coin at a show in 10 years from me, that he must have thought THAT was a good deal. I'm not offended over here or anything! I can tell you though, as for the "interested or even able to give good deals" from the dealer side, it's all about the number of sales -- and the public is all there for a reason. Coin Shows have tire-kickers and first timers like anything else, but a majority of the public who attends are (often serious) collectors who are looking for something specific, and have cash ready and waiting in their pockets. It's a compacted experience where we do enough business in a short time to not only pay the travel costs, but take some money home with us not because we're ripping someone's eyes out on a coin, but because the volume of transactions will make us come out on top. It's supposed to be a win-win for everyone!
I did like that coin. It would have haunted me if I didn't buy it. I just want exact details from some people so I can look for myself. Given how off topic some threads are I didn't think people would have a big problem showing off their great deals from coin shows.
Amanda I've seen, and I'm sure you have too, single individual coins sold by 4 or 5 different dealers to another dealer, and each dealer made a profit on the coin - and all at a the same coin show. As a collector, all you have to do is know your coins well enough, and the market, to do the same thing. You, a collector, can take the place of dealer #1, #2, or #3, buy the coin and then sell it to a 4th dealer for a profit - at the same show. Any way you want to look at it, that's a good deal. They don't say that knowledge is the most valuable thing there is in numismatics for nothing. They say it because it is true.
Ok Vic. Do you agree collectors need to "know their stuff" at shows? I bought this one at the Whitman Baltimore Expo in March for $3000. It was in a PCGS AU58 holder, but the "XXX EDGE" variety was not on the holder. (I had it reholdered for free). Now it's worth $5750. Only 5 graded higher at PCGS. How's that for a deal?
1806 O-127a R-7 Grade: G-4 [Note: no condition census given for die state. However, O-127: 20,20,15,12,12) Obverse: 12-s2 Reverse: H Diagnostics: Obverse: Die Crack, Y above T at top. Reverse: Berries do not have stems. Click this bar to view the full image. Click this bar to view the full image.
You can call it that if you want Vic, but I think Frank's point is that he was able to do this because of a lack of knowledge on the dealer's part. And that's not quite the same thing as a error on his part. For it to be an error the dealer would first have to know what the coin was really worth and then sell it for less. But because he didn't have a clue, it could not be an error, merely a lack of knowledge. That's what cherrypicking is by definition - you knowing more about the coins than the person selling them. Cherrypicking can be recognizing a coin that is undergraded, recognizing a variety, or recognizing a coin that is scarce or rare. In short it's all about knowledge - you (the buyer) having it and them (the seller) not. You can call it semantics if you want, I call it reality.
So if ripping dealers that don't know better is the only way to get a good deal, I'll pass. I'm not a variety collector, I could care less is something has a smaller o, or some doubling. I have no desire to sit at a table all day with a loupe looking for some tiny difference in one coin from the other. I understand why people do like that stuff. When I go to a show, I just look for coins that I like and look for a fair price. I find a lot better prices on eBay, and gc.
It's not the only way, it's merely one way. Are you aware that the biggest dealers there are hire people and pay them very, very, well to do nothing but circulate at coin shows cherrypicking. And when I say very well, we're talking about multiple 6 figures. Knowledge is King when it comes to coins, there is nothing more valuable
I've never been to a coin show, but Vic your way isn't always the right way which you seem to want to constantly hammer at. I buy coins from ebay and my local dealer, my collection is relatively small and some of the coins posted in here are worth more than my entire collection. That being said knowledge is a collectors greatest ally whether you buy online, from a local dealer or from a show. If you can see something is overpriced or underpriced and be able to either act on it or walk away you will do well for yourself regardless of where you buy.