first coin show..any tips?

I don't agree completely with this. There could be items that you've been trying to locate for 5-10 years, but you don't write them down on your want list or allocate funds for them because they're stored in that little computer on your shoulders. If you happen to see them, you'll know! I'm not talking about some whimsical purchase that catches your fancy. So, what happens if you didn't bring enough money to buy it and you've already spent everything? Are you going to chance waiting another 5-10 years?

Of course, there is always the possibility that your car might break down or you have a flat and no spare tire on the ride home. What then?

Chris

 

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Billy raised another point that had slipped my mind. It's one thing if you're at a small show to try to "breeze through" all of the tables for an overview, but what if you are at a show like FUN where there are 800-1000 dealers? It can take you the better part of a day just to make a quick check at most of the tables. Are you going to take a chance that an item you see at one table will still be there when you get back? You already know the specifics about the coins you want, so why hesitate pulling the trigger? I've had occasions where I made a purchase at one table only to find a better example at another table, and I used the previous purchase to make a deal and trade for it. What's wrong with that?

Chris

 

I think TC was thinking how easy it is to get caught up in the frenzy of all those coins in one location and not going wild with purchases.

 

Candy Store........

TC.................

 

Pull out your cell phone and call AAA. Of course, you could also use that cell phone to call someone to bring cash in case you need it for a coin buying emergency. TC

 

I always hit the dealer for a discount from the get go or most times Ill move on if not granted, unless its something neat like an incorrectly identifed and priced coin. Look out for the lighting at the show, take a long hard look at it and come right back to cost and how it can be lowered. Im a pain axx to dealers. And I always bring twice as much as I want to spend in case of emergency like a condition rarity is staring me in the face and the option to make money presents itself. Do everything slow, and enjoy your visit. Good Luck.

 

As the attendee of more coin and currency shows that i can count!! here,s the
Best advice i can give, Atleast this is what i do anyway and it seems to work
Well.

1. Have a list of what your looking for and try to stick to it avoid impulse buying
This will hurt your overall budget and your goals.

2. Establish a budget, (Unless you have money to burn!!) Bring only the amount
That you can comfortably afford, Its easy to overspend!

3. At the show walk the floor completely dont miss a table, If you see something
On your list try and get the guys best price then move on, This will save you
Alot of time, And make sure you mark the tables down, At big shows they
Can be hard to relocate!


4. When you get to the final walk through it,s time to play a little hard ball take
Your best offers and make them better most dealers will compete hard for
Your business and will take less in most cases as long as there making
Something and in some cases when there not!

 

Good advice that you've received here. It's fun to browse the floor and see all the different coins. I've learned a lot by asking questions of the dealers. If they aren't too busy, they are glad to give a little history behind the coins, etc.

I think the bottom line is to be respectful, polite, and patient.

 

Relax. Have fun.

 

I know that this is late but you can apply this to the next coin show that you go to but if it is a big coin show that lasts more than one day, then I would go on the first day of the show and get there a few minutes before it starts. I have done this with past coin shows because I can find a lot of good deals on what I am looking for on that first day. When you get to coin show early, you have a better chance of finding some good deals.

 

I agree with that. I love going to coin shows and I always feel relaxed and I have fun finding what I am looking for and also enjoy talking to some of the dealers when I am there.

 

how much money should one on a limited budget think about taking to a show? $100 $500 $1000? id be more in the $500 range but would i be wasting my time?

 

Impossible question to answer... almost all of us have "limited" budgets but our budgets are different. If I were heading to a major coin show, I'd probably take ~$500.

 

It really depends on what you are trying to find. For example, if you were looking for a couple of Morgans in MS65/66, $500 might not leave you enough to get a hot dog and coke afterward. If you were looking for non-key Jeffersons, Franklins or Roosevelts in XF/AU, you could probably go a long way on $500.

Chris

 

^ Agree cant forget the hotdog.

 

I agree with Chris, I dont go shows all the time but when I do I know I will be faced with dealers all looking to get a fair price for there goods which is fine, and good coins as you all know are not cheap so I always bring at least two thousand dollars just in case I run across the rare coin emergencey, something priced to low to walk away from, which happened to me once & I swore I would'nt be caught off guard again.

Steve

 

well i am back and very happy. it was very good experience.

first off, i can not believe how nice people were being. i guess because i am sorta younger and they have not seen me before, some people were trying to help me out. there was even a few vendors that struck up conversation with me a few times! there was one or two i did not feel comfortable around there table. i swear one whispered to her husband to watch me so i didn't steal from them. i can sorta understand were she is coming from, because you got to protect your investments, but its sorta a slap in the face. i was being extra careful to not look like i was stealing. i kept my hands away from cases and above my waste, not even near my pockets!

i was able to go through the show before i made my first purchase. it wasn't hard for me because i am cheap and always looking to find the best deals. i did hold off on some of the bigger stuff till next month(yea, i am going again and can't wait)!

it turns out some of the best deals were had at the first table i went to! i got an au 1943 walker for $8. i felt that was a decent price.

i also got my birth year(1988) mint set. i am a little disappointed in it, because the bottom of the envelope has a rip, but when he seen the rip he took a $1 off, so it was $4.

i got 100 cardboard flips for $2, i probably could have gotten them cheaper online but its $2 who cares!

the most expensive thing i got was only $20. its an 1888-O morgan in ms condition. the guy wanted $25, but said " its good to see new faces, tell me you are coming back next month and its yours for $20".

there was so much to look at. i counted 32 vendors! i got a little flustered but i did a lot better then i thought i was going to do. there was even tables that were buying stuff from people and taking trades. is that the norm? i have some extra coins, that i wouldn't mind trading.

also i know there is someone one here that loves '70s silver art bars. there was a vendor that had a table full of them! there was also a guy who has a table filled with all his medal detector finds. he searches cost to cost and has some very nice finds!



there was only one thing i did not like. they seem to overvalue graded coins at most tables. i know graded coins have a premium over raw, but from what i have seen, the same coins sell on ebay and even local shops cheaper then what they wanted? its the same with toned coins at that show. its not a big deal to me, just wasn't sure why they value them so much.

i allready have a good idea of what i am getting next month and i will be pulling the trigger on some bigger things. i took $500 with me and didn't even spend $50. next month will be different.

i even had fun when i left. i took the bus downtown then the subway to the coin show. when i got back downtown, it was the gay pride festival. i ended up hanging out a bit, because bus's weren't allowed in the city. the drag queens were crazy! i never seen such a large group of happy people! my girlfriend thought i was sorta weird for having fun there, but thats another story.

i am sure there is so much more i forgot to write, but i am starving and need some lunch! i will also get some pictures then.

thanks for the tips...

 

Sounds like you had a good time and worked on making some new connections. Congrats.

 

just to let you know.........your not the only one that feels awkward when looking through coins. Were young and thats going to happen. This is why its important you form a connection with some dealers. One of the dealers I go to his shop is so dark I cannot see anything through my loupe so he allows me to take the coins outside. It took about a year for me to reach that connection where I felt comfortable even asking him if I could do that. Glad your first show went well. Wished there was one near by today but I guess that living in Michigan LOL

 

Thanks for filling us in, Panda! It sounds like you really had fun.

Don't be overly critical of the dealer who didn't trust you. These people have been around the block more times than you can count, and they have probably seen just about every kind of thief you can imagine. If I had been your age under those circumstances (first show), I probably would have looked his wife straight in the eye with a big smile and a wink and said, "This is my first show. I'm having fun just being here, but you can search me any time you want!"

When you go back next month, be sure to go straight to the dealer who knocked $5 off the Morgan to let him know that you came back again, and ask him if he has any other good deals for you.

Dealers are always looking to add to their stock, and it isn't unusual for them to take other coins in trade or buy them outright. Just be sure that you don't take a lot of common-date junk. They probably already have loads of that in their mark-down bins back at the shop.

If you should ever go to a really big show, you will learn that dealers usually have the first day just to themselves without any public traffic. They use this time to browse the other dealers' tables to make deals for stock they need for themselves and for clients. At most of these shows, you can purchase an early-bird pass which allows you to browse the tables before the rest of the public. Some collectors like to do this because there isn't a crowd elbow to elbow, but the passes usually cost $50-$75.

You will find dealers who will overprice their inventory to make up for the additional cost of the table space and their travel & meal expenses, but you also have to realize that their overhead for their regular store continues whether they are there or not. Dealers are also anticipating that some buyers will try to talk them down, and when the customer thinks he/she has gotten a good deal, everybody is happy.

Chris