What is the ettiquete and normal things about buying and selling coins among members? What are things you can do, and what are things that are verboten and frowned upon? I really don't think they will have any US Coins (Morgans) that I'd be interested in because I've seen the trash sold at my local coin shows at really inflated prices for what they are. I wasn't born yesterday. But I have a selection of graded detail coins I'd like to sell and use that money for new collectibles. They are nice coins for people who don't like slabs, just want coins for their albums at a much reduced price. What's acceptable and polite about going about this?
If your only motive in going to the coin club is selling coins, you might be better off selling elsewhere. If the club is small, there might not be members interested at all in what you’re offering. Contact the president and ask about protocol for selling at meetings. Clubs offer a lot more than being a sales venue. They are a great educational and news resource. But the most important part is the camaraderie of great folks with a common interest. Mike
Most coin clubs have auctions and at mine, silver sells best but if you tried to sell a graded Morgan at my club at fair market value, I don't think it would sell, not at my club but you never know. That said there's normally a couple or more coin shop owners there open for business. You should state the City your in, maybe somebody here goes to that club and they can tell you more about it.
Well, in the Hamilton club, people are given auction sheets that says what you have. Towards the beginning of the regular club meeting, the auction is held for the members. Our club also lets you set up a table before the meeting so you can sell until the meeting starts.
In my experience, every club I've been to has been different and done it differently. Some have a small "show" before or after the meeting where a few dealers set up and trade. Some have a small auction, usually after the meeting, where you can view lots and bid. Some are just free for all, everyone rolls up and people are buying and trading. Best way to find out is just show up at a meeting and see how they do it.
Most of the small to which I have belonged did not have any high rollers. The clubs who did have high rollers, the members were rolling so high that they were beyond me at the time. In other words most clubs will not generate a lot of revenue for you. I belonged to one club which had meetings which were like mini coin shows, but that was the exception.
You got that right and that's my coin club in a nut shell. Mostly I've been selling low end silver, half dollars but I have also sold gold at my coin club and it's mainly the couple 3 or 4 dealers who have a dealers table there on the constant who are the buyers. We have a small auction and it goes something like this. You gotta be a member and you fill out a form of what you're selling and the starting price you expect, we have an actual auctioneer caller dude, he's just a collector who likes calling the numbers, highest bidder wins the coin and the seller has to pay the coin club 3% or something like that. Sometimes you get a good deal and sometimes you don't, it's all about having a good time and learning about coins.
