What is everybody's opinion about which day to visit a coin show? I just went to the TNA show in Fort Worth on Friday the first day. In the past on some of these coin shows I would go on Saturday the second day, so I did not have to take Friday off from work. IMO since I took the day off on this Friday and went the first day, I felt I got to chose from a better selection put out by the dealers. Do the dealers put their best stuff out first or hold back or just spread it out through out the show? P.S, RLM and I were trying to hook up, but missed the chance. I wanted to meet him. he also said 900fine was also there.
The last day always has the best deals because dealers don't want to take a lot of stock back home and are willing to part with it for less just to be rid of it. And right now, unless you're a bullion guy, most of the "good stuff' will still be available as most of the rush will be non-collectors buying up bullion, not numismatic merchandise. I've found most dealers, once they figure out you're an actual collector, seem to be relieved and thrilled to work with you. They're obviously tired of the bullion crowd, even though they've been good for business. Guy
The last show I went to, I attended on day one to get first crack at some of the new stock my favourite dealers had just acquired and had never shown to buyers. Then I went back on the last day, to snatch up any easy deals and some of the coins I regretted not bringing home on my first visit. In this way, I succeeded in my master plan to spend too much money.
The answer really depends on what your goal is. If you're looking for hard to find coins then you want to go a day ahead of time, on the dealers only day. It will cost you, but it's worth it. If you're looking for deals, go on the second day if it's a 3 day show and on the first day if it's a 2 day show. There's good reasons for all of that. Probably 80-90% of all sales made at a coin show take place between 1 dealer selling to another dealer. That's because every dealer out there has a huge list that he's trying to fill for his customers so he's looking to buy a lot of coins. He also has a lot of coins that he's had for a while and he wants to get rid of them to raise capital for other buys. And he knows the easiest way to do that is to sell them to other dealers. So he discounts those coins. So, as a collector, knowing this gives you an advantage. You know that most of the coins you want are going to be sold by one dealer to another dealer. And the majority of those sales are going to be made on the dealer only day. And once purchased those coins are not offered at the show but held for the Want List customers. So the only way for you as a collector to have access to those coins is to be there on the Dealer Only day. Now the reason you don't want to go to a show on the last day is because by the last day the dealers are leaving. I've seen coin shows, big ones even, where by the last day a quarter to a third of the tables are empty by noon. Dealers are wanting to move on. To get back to their shops and sell everything they have bought or get ready for the next show. So by the last day there's a lot of material that you'll not even get to see. Personally I have always believed that bargain hunting is detrimental to your collection. Of course I guess that depends on your collection, but if you truly want only nice coins then you are not going to find them at bargain prices. You can find them at fair prices, and I don't mean fair as in average. I mean fair as in equitable, as in you get what you pay for. But if you want the best price then you go on the Dealer Only day. Otherwise that coin you want may have already been sold 2 or 3 times at that show alone. And each time it is sold, the price just went up. You want to be that first sale, not the last one
I usually go on the first day of the show to find the silver art bars that I am looking to add to my collection. I like to get there early when the coin show open on that 1st day. The 1st day of a multi-day coin show has been good for me in the past because I was able to find certain rare and semi-rare silver art bars for a decent premium over spot on that first day. If it is a 3-day coin show and I have a good day on that 1st day, then I will usually go on the second day of the show because, sometimes, the dealers might put out certain silver art bars on their table that I have not seen on the first day and I still might get a decent deal on one if I am at the right place at the right time at the coin show. I usually do not go on the third day of a 3-day show because I have accomplished what I wanted to do on the first two days. If it is a 2-day show, then I go on the 1st day and do not return on the second day especially if it an out-of-town coin show where I have to spend sometime on the road getting back home. Overall, It all just depends on the size of the coin show, the travel time that it takes for me to get there, how I do on the 1st day of the show, and how much cash I have left over will determine if I come back for a second day.
I put everything I brought to the show out on the first day. I do not do bullion except for my own personal investment / blowout. I do have bullion related material like slabbed ASE, Mod $, and silver proof sets which I retail in addtion to currency and numismatic coins. I do not necessarily set up at a show to do business with other dealers as I am there to buy and sell at my price with the public. I may elect to wholesale certain material that walked in the shop at 60-65% of bid to buyers at sheet prices to get a quick flip. Everything else they either pay the money or its adios amigos. I dont put prices on anything so if hardly anyone is asking a price on something what this tells me the people walking in the door dont have any money. These types of shows can be good buying shows at my price. My buying is targeted to material I can buy low and make at least 40% on at retail. If I can't buy it at a low enough cost to make a decent profit, then pass. It takes cost plus at least 40% to make it in the coin business. The first day if I come in loaded with cash I may go thru the slab boxes of a certain wholesaler to pick up some nice stuff or restock certain generics for retail customers. I do not take checks or credit cards from anyone. I expect payment in cash and may take bullion coins at melt or slabbed coins at 20% behind CDN Bid in trade depending on needs. For the guys who say "well so and so recommends me" they can go take a flying leap. Beware of people who want to trade you material on a sale transaction (as part of the payment) as they may be using it as a trojan horse to get more for it or offload low end garbage. I am willing to work with these guys if the deal works for me but many dealers hate them.
just to reinforce something that doug mentions in his post, I went to the recent csns show in the chicago suburb of roselle, I went on saturday, which was the last day, arrived at noon, there were at least a quarter of the tables empty and the show was scheduled until 5 pm. by three thirty practically all the tables were shutting down. One little difference of opinion, if your dealer has an online store with pictures such as 900 fine and others have, you can tell if the coin you are buying is one that they have had a while or a more recent pick up.
I generally go the first day if I can. The show is usually less crowded and dealers have lots of new material to offer. As for making deals, I never have a problem with that no matter what day I go. It just seems to me that the first day is less hectic and you get more of a chance to spend time with your favorite dealers. Bruce
I think I agree with this as well. I picked up some real nice toners that I am sure would have been gone by the next day. I think on a Saturday or Sunday you might also get a bunch of tire kickers who are just taking up space.
I also attend shows on the first day. I like to get there when the door opens first thing in the morning. As the saying goes "The early bird gets the worm".
