A Newbie's Wish for Coin Shows

Discussion in 'Coin Chat' started by Dougmeister, Oct 27, 2014.

  1. Dougmeister

    Dougmeister Well-Known Member

    This is too much to ask, so it will never happen, right?

    All vendors should have a list of the inventory they are taking to the show. I imagine that the days and weeks leading up to a major show are hectic (to say the least).

    Does anyone else think it would be nice to be able to search all inventory that's going to be at a show so you can know which tables to hit first?

    I realize that last-minute changes happen, stuff gets added/removed from the list or sold.

    But would this or would this not be a valuable feature to be added?

    Is it too much work with too little return for the dealers and/or coin show hosts? Do most people just go to browse, with too many items on their "Want List" to make this feasible?
     
    geekpryde likes this.
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  3. medoraman

    medoraman Supporter! Supporter

    One of the main points, to me, of a coin show is to be able to expose myself to something new in numismatics. The internet is good for searching and listing, etc. Coin shows are more about the casual browsing, exposing yourself to new areas you have never thought of colleting before. If you required all dealers at shows to list out their stock, why wouldn't they just stay at home and put that list on the internet?

    A lot of dealers who go to shows do so because they like this method of selling over internet selling. If you try to force them into the internet model, they might find they get better returns there and stop going to shows, right?

    I would say to enjoy shows for what they are, and go to them not necessarily with specific needs in mind, but to be able to see in person tons of coins you normally otherwise would never see.
     
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  4. Dougmeister

    Dougmeister Well-Known Member

    Point well taken.

    Just to clarify: I'm still *going* to the show, and I'm not trying to buy the coins on-line ahead of time.

    It's simply that the Baltimore Show was kind of overwhelming to me and there is no way I can get done what I want to get done in the amount of time that I will have there.

    Does that make sense?
     
  5. legacya

    legacya New Member

    It can be overwhelming but the Baltimore Show is a great place to find what you are looking for. Just do a little homework ahead of time. Odds are that you know some of the right dealers to go looking for on the coins you want. What coins are you looking for?
     
  6. John Anthony

    John Anthony Ultracrepidarian

    Yes, it is overwhelming. I have only one day to spend at NYINC, and my strategy will be to go to every table and ask the dealers if they have what I'm looking for, which is ancient coinage of the Southern Levant. I intend to make a list of items I'm interested in as I go along, noting the table numbers and the prices. Then I will caucus with me, myself and I over a meal and return to my top choices. Hopefully they will still be there. If not, I will move on.

    I've discovered that my biggest issue is spending up my budget too quickly at the first few tables I visit. Then I come across something else and say, "Dammit, I should have gotten that."

    As far as asking dealers to maintain a complete inventory, yeah...that's a pipe dream. Would YOU want to catalog and inventory thousands of coins? How long would that take?
     
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  7. saltysam-1

    saltysam-1 Junior Member

    Plus what John just said, the dealers themselves trade and sell among one another. Some don't even come there to sell to collectors, just to freshen up their own inventory. So the inventory is always changing on the selling floor.
     
  8. GDJMSP

    GDJMSP Numismatist Moderator

    Precisely, and that is why a "list" would be worse than useless. All major coin shows have an early day, a dealer day if you will. And on that day there are more coins bought and sold from one dealer to another than there are in all the days that the show is open to the public. And during the show, the dealers continue to sell to one another more than they sell to the public.

    80% or more of all coins ever sold by a dealer, are sold to another dealer. And this includes all venues, not just coin shows.
     
  9. Dougmeister

    Dougmeister Well-Known Member

    Specifically looking for common date examples of a Seated Liberty Dollar (<=VF) and a Capped Bust Quarter (<=VF for no motto, <=F for motto). I have a few suggested dealers from another thread. Always open to more.
     
  10. Dougmeister

    Dougmeister Well-Known Member

    Ah, thus ends my pipe dream. It was nice while it lasted ;-)

    Thanks to everyone for bringing me back to reality.
     
  11. geekpryde

    geekpryde Husband and Father Moderator

    Well, this may not be feasible for single person coin booths, but technically if done correctly, buying and selling while at the show would not negatively affect the list at all.

    Why you ask? because a dealer who maintains an electronic database of coins would simply click a button to mark a coin "sold", "hold", etc. With a bit more effort, a dealer adds the new coins purchased while at the show. If properly setup before hand, this record keeping system should take no more than 60 seconds per new coin, and anyone with internet access would have up-to-the-second "list" of coins on the floor.

    Honestly, I don't understand how dealers with thousands of coins do it any other way. How does a dealer know if a coin was stolen, or when it was sold, or for how much, without a database tracking everything? Hand written Paper receipts? Wow, that takes a lot longer than what I am talking about, and it cant be searched, or indexed, or tied to a system that the OP is asking about.

    I agree that coin shows should have a theme of discovery and adventure, but really for people who want to be more methodical about their shopping, an electronic "list" type system really ought to be implemented by the larger dealers at the larger shows, IMHO. I know I would use it.
     
  12. geekpryde

    geekpryde Husband and Father Moderator

    not so fast! :D
     
  13. C G Memminger

    C G Memminger Active Member

    GDJMSP hit it, particularly for big shows. The volume of dealer-dealer transactions can be huge. The big one for me is the Money Show in Houston, early December. At the 2013 and 2012 shows, I showed nice pile of old gold coins, including a half-dozen or so $5 gold from Charlotte and Dahlonega, and a lot of XF/AU ho-hum $20s, $10s and $5. Both years, a dealer from Phoenix cleaned out my gold before the doors opened to the public. So what did I do? I walked over to a dealer/buddy's table and bought 40 GSAs from him. He had just acquired a trunk full of them, and wanted to move some.

    Here's what I would suggest. If you are interested in X, ask the dealers who has X. We would have already sniffed around the room to see what's what. Plus, dealers tend to know who specializes in X, Y , Z.....
     
  14. C G Memminger

    C G Memminger Active Member

    John Anthony: At larger shows around the country, and most shows in Texas, ask if Ricky Beale has a table. Ancients is his "thang." well, one of them
     
  15. John Anthony

    John Anthony Ultracrepidarian

    Thanks CG. However, NYINC is the Mecca for collectors of ancients. I certainly will look for Ricky Beale, but there will be 115 tables with ancients at this show. :)

    So, as you can see, I will have my work cut out for me.
     
  16. GDJMSP

    GDJMSP Numismatist Moderator

    Oh I'm quite sure that most dealers have a system for record keeping, they have to.

    But the point of the OP's original post was for dealers to make what their inventory at upcoming shows would be, available to collectors - before the show. Now if on day one they sell a lot of their inventory to other dealers - then how exactly are they going to do that ? And that's the point, they can't.
     
  17. geekpryde

    geekpryde Husband and Father Moderator

    Ah, got it. I guess I am combining the OP original idea with my similar idea. Still, a "live" system which is up-to-date DURING the show, would be very helpful, along with an app that literally walked you to the dealers booth. I think once the younger generation takes over, both these things will be coming.
     
  18. medoraman

    medoraman Supporter! Supporter

    Not unless you are saying every coin has to be slabbed. Please explain to me how a dealer who buys a collection will have time to update this database with all of the information from these coins. Unless you are assuming every coin is slabbed, and they can just scan the barcode to put in and take out of inventory, the volumes we are talking about makes such a thing impossible. If all of the coins DO have to be slabbed in order to facilitate your "younger generation" coin show, that will be the last coin show I ever attend.
     
  19. ziggy9

    ziggy9 *NEC SPERNO NEC TIMEO*

    my bigger concern about this system if I were a dealer is that it would be too easy for a thief to find out who was carrying what for inventory and choose his mark accordingly.......
     
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  20. spirityoda

    spirityoda Coin Junky

    that probably never happens. most dealers know their inventory. what I do for my regular dealers I see at coins shows is send/mail them my coin list of most wanted for world coins with pictures.
     
  21. geekpryde

    geekpryde Husband and Father Moderator

    Yeah, slabs help. But this is NOT a slab-only system.

    What do dealers do now when they buy a collection of raw coins and unload it at the same show? Are they recording this on pen & paper now?? Are they not recording the coins at all? :wacky:

    The only people my system would be more work for are people with photographic memories who record all the buy /sell stuff after the show, and for dealers who don't record anything other than Net $500 at Show X. (IRS probably doesn't like those guys)

    My system merely replaces whatever good record-keeping dealers are currently doing, with a database version that can then speak to a centralized system at the show. Heck, even if you skip the centralized aspect of it, and it's only dealer-by-dealer, think about how great this would be.

    Any collector could use their phone, tablet, desktop in hotel lobby, etc., to bring up the dealers website, and see a "live" list of what is currently available at the dealers table. Not necessarily with photos. At this point, just a simple list of coin, grade, grading service or raw, price, etc.

    The collector or other dealer could chose to walk over to that table, or find better hunting grounds elsewhere. Its all about data-capture at time of buy and sell event. its about maximizing efficiency for the collector AND the dealer.

    My guess would be that "Great" dealers of the near-future will record ALL transactions in an electronic manner, and use that same internal system to show select fields to a customer-facing website / app. (Obviously, you wouldn't share where a dealer got the coin, or the price paid, and other "private" details of a transaction.)

    Why keep multiple databases / ledgers / notes / inventory systems / CRM / when a single database can drive all of this, and be in real-time?

    I guess Ill keep dreaming. :D
     
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