First Coin Show Experience ...

I went the the Whitman (Baltimore) Coin Show today (Friday, June 17). It was my first coin show. My primary reason for going was to hand submit a number of raw coins to PCGS for grading -- but I was curious to see a show first hand.

I bought this NGC-graded MS64 Standing Liberty Quarter while I was there (sorry about the photo, it doesnt nearly do the coin justice, my little iPhone really struggled with it). This coin looks SO GREAT in hand -- really great color (amber, pink, red, gold, & green) and nice luster. This image just doesnt capture it very well. The photo shows a lot of black -- in reality there is no black on the coin at all. I think my lighting is too dark (taken in indirect low-sun-angle sunlight).



A few thoughts on my first coin show:

1. Parking was a pain. I was thinking a big convention center in Baltimore would have their own parking, but they leave you to struggle to find a public parking garage blocks away (parking cost me $11 for 2.5 hours). For first time coin show participants, scope out the parking in advance and bring a road map to the parking lot, then walking directions to the venue building.

2. The coin show was HUGE! I was very overwhelmed. There must have been 600 to 800 tables/dealers. I was there about 2 1/2 hours and only saw tables down one outside wall, and a few tables in the middle. So I probably looked at maybe 5% of the tables there. I guess I will need to allocate more time next time I go to a show (like 10 hours or something!!!)

3. Cash Only (or Checks). I was surprised that nobody I spoke with would take a credit card. I did bring my checkbook but only had 1 check in the register. I will have to make a mental note of that in the future.

4. Few Web Sites. I was shocked how many people there said they dont sell on the net or have a website. They sell by going to shows. WOW.

5. No Price Tags. I wish they would put prices on the coins; or organize their coins by price in the display cases (under $100, 100-500, 500-1000, 1000-2000, $2000+) however I completely understand why they dont (too time consuming and prices often change). Still it was sort of unwieldy constantly asking about their selling price. And often I would fall in love with a coin, wait to ask the price, ask the price, then the dealer would struggle to find the price, then I would find out it's out of my price range. Then repeat the process 100 times. There needs to be a better way!

6. Live Coins Are Great! It was great seeing so many coins live. I am so used to buying off the internet where you are relying on just 1 photo. Nothing beats seeing a coin in hand before you buy it. It was nice the way all the coins were laid out in display cases. Allowing instant side by side comparison of hundreds of coins.

7. It's not all guys. This is probably a funny statement but there were a lot more hot women there than I was expecting. Beautiful sexy women are into coins? Who knew?

8. Bring your own documentation/guides. How do people handle knowing what the PCGS/NGC price guides say? I often asked the dealer what the guide price was (and they would check their computer and tell me) ... so I could find out how much of a premium they were putting on the coin. That was probably rude, but I claim ignorance! Do most people being some sort of bid sheet with them (like a grey sheet or something). I have to say in some ways buying off the net is easier -- but it's hard to replace the experience of seeing a coin live before you buy it.

9. Lots of guns. It was strange seeing all the cops (security) with "heavy artillery" standing around. But it makes sense since the room was probably filled with $20 million+ in coins.

 

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Wow, sounds like you had a fun time at the show, nice SLQ:thumb: I hope to be able to go someday, but I cant drive...

 

So many coins and you were looking at the women? What's wrong with you Winged Guy?


When I attend a show I bring a certain amount of cash with me. When the money's gone, that's it. Those guys probably did you a favor by not taking a credit card........

 

That is a real nice looking slq.

I enjoyed reading about your experience at your first show. what a huge show to be your first one.

I also like to see the coin "in hand" before buying, tho there are quite a few dealers out there whose eye I would trust more than my own.

No surprise about most not wanting to deal with credit cards, they cost the seller money.

The majority of good dealers I have dealt with have no problem checking grey sheet for you. I think it better tho to not put them to the trouble by carrying one with me.

I think a large part of the hobby is not simply the coins but the people in the hobby.

I also agree with your point #5, I like to see a price marked, even tho there might be some haggling over the final price at least that puts a starting point to negotiations.

 

Interesting observations, great post

 

Nice SLQ, Love that toning! I'm with you on #5. I like to see prices.

 

I like your SLQ...I am with you on #5

 

Thank you for penning your experience and observations here. I am planning on attending my first coin show yet this summer, in August, so this post is helpful to me. (**Remember to take real money with me! And my notes..)

Lucy

 

Nice post. Never been to a big show, but the smalls I knew the dealers only took cash. One of these days I will make a big show.

 

PS Like looking coin.

 

Congrats on your 1st show and nice pickup! I've never been to a huge, national show like that. 600 tables!

I am definitely going to the wrong shows.

 

Just edited my OP to show an alternate (better) view of the coin. Thanks for all the comments and feedback!!

zach, you'll be driving before you know it (and getting into all kinds of coin show trouble!)

green, you made me laugh with your coins vs. women crack! so true about the credit cards, if the dealers took cards, i would have spent a lot more money. bringing cash is a great idea. that would really make one want to cherry pick. I should bring dollar bills next time. that would really make me think about how much money I was really spending.

chip, is grey sheet more of a wholesale price list? how does that compare with the PCGS and NGC/Numismedia online price guides?

ml, wooley, taylor, nice we see eye to eye!

lucyray, glad this was helpful! post your observations after your attend your first show.

mark, the whole cash thing was a surprise ... I guess I was lucky the guy took my check! the big shows are something, just make sure you give yourself enough time (get there early!)

oval, you crack me up!!! yes, what a surprise. i wasn't expecting an America's Next Top Model audition. Big shows are pretty amazing, the room was so big that I got all turned around and struggled to find the exit when I was leaving (or maybe my head was still swimming from looking at all the great coins).

 

Winged, I just recently attended my first coin show last Sunday in Sacramento. It was quite an experience for me as well. This show was dwarfed by the Baltimore show by a TON! There were maybe 10-12 vendors at the show I went to. However, I went with my boss, who is more familiar with the whole coin show experience and I asked him a few questions. He was able to shed some light on the situation for me, as he knows a dealer personly.

My main question was: "How do they get another rare coin BACK in stock to replace the one they just sold? I mean, you can't just call up a warehouse and say 'Hey, I'd like to place an order for for 2 VG-10 1916 SLQs and how about a 1914D Cent."... His response was that these vendors after trade with one another before the shows start.

 

OH....I didnt know that.

 

Hi WingedLiberty,
VERY nice SQL! I was down there at the show today with BrandM, "friday". For those who are going they moved the show to room F by the way which is closer to Camden Yards. Anyway, it was a really nice show. It is just SO overwellming when you walk thru that door isn't it, LOL! I picked up a few things and drooled on everything else. What was also nice was it didn't seem all that crowded.

Another good idea is get yourself a small notebook that will fit in your pocket. Write down what your looking for ahead of time. It really helps to keep you on track. You may already be doing this, if you are GREAT!, if not you may want to start.

Great to hear your experience was a good one!

Mark in NJ

 

kanderus, your coin show sounds a lot more managable! good question about the stocking of coins -- i have wondered the same thing myself.



1066merlin, funny you were there! who knows I might have bumped into you.

yes going on a weekday afternoon is better than a weekend I would think. So many tables that you could always find one that was void of onlookers. a notebook is a good idea.

I think in the future I might take quick photos of more expensive coins I like, get the price and the bus card of the owner. Then I could peruse the photos and ponder the prices at my leisure at home and decide. Less pressure that way for sure and allows you to A-B stuff from different dealers easier. Of course you may lose a few that way, but probably prevents those expensive spur-of-the-moment "regret" purchases. And lets not forget shipping costs if you buy it remotely.

I wonder if one could do that on the premesis with an ipad or something. Wander around -- get a bunch of photos and prices -- then sit down somewhere quiet and ponder the price premiums and decide what you really want inside your budget constraints.

 

Your head might have been swimming, but I'm thinking it might have been from looking at something besides coins :devil:

 

You got me pegged! Maybe there were a lot of daughters of dealers there? All these coin businesses get passed down to sons and daughters eventually (I am guessing).

(By the way, when I say daughters, I am talking about 30 year old daughters, not 12!)

 

I think this thing about not pricing coins is part of the selling strategy to get a conversation going with the dealer. They can size you up that way and decide the best approach to selling the item. It's like going into a jewelry store where prices are hidden from the customers view. The art of selling has it's foundation in the gift of gab.

 

600 to 800 tables and hot women all around is not the norm! lol Trust me.

2-1/2 hours is barely enough time to cover an 80 table show.

That was a major show for your first experience. IME, most of them I go to is free parking, parking abounds, 60 to 80 tables, free to get in, most have a raffle to sign up for at the door, and it can still be overwhelming! You can spend hours there and really only glance over most of it.

I've found you almost have to have a strategy when you go to them or be prepared to be overwhelmed. If you're there to look for one thing or a few specific things, that narrows the search down and makes most of what is there irrelevant to you. If something catches your eye in the mean time, so be it. But at least you don't feel like you have to see everything.

Many times, I'll bring a list of a few things I'm looking for with prices realized from recent online auctions and guides, for various grades, next to what I'm looking for. I can easily pull the sheet out and know where they're at. Now when I leave them, I don't feel like it was a blur and nothing got done.

Most prices are not set there and you can negotiate down a little to quite a bit if you just ask. If you say "you'll take it", they'll gladly let you pay the full amount too. Personalities come in to play big time. Last one I was at, there was an old dealer with a large collection trying to get out of the business. Wanted to retire! Sign on the wall, "if you don't like the price, just ask! " with a smiley face next to it. The guy always tends to be high and gets offended easily by offers. Gets rude with people. Doesn't want to budge on prices and still didn't want to.

Just one example.