Coin Show spending

Though I have only been to one show, I took $400 with me. But maybe because its also my first show I only spent 60 bucks. Plus I spend most of my money at the store, which doesn't leave me much to spend at a show.

 

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I will generally spend anywhere from as low as $40 to as high as $500 when I go to a coin show. It depends on the coin show and the size of that coin show as well as the distance that I travel to get to that show. Sometimes I leave a coin show empty-handed because I either 1.) Did not find what I was looking for or 2.) I found what I was looking for but did not buy because the price was not right.

 

I usually take about $300 minimum to a show these days. Any less than that and it's not worth the trip anymore. I'm happier bringing more. The most I ever brought was a couple grand. Sometimes I bring cash and stuff to trade if I'm after something that's higher end.

 

I was just browsing through the latest Scotsman auction catalog. This semi-annual event is scheduled for July 27 at the Saint Charles, MO Convention Center. Lot #716 is an 1889-CC Morgan, PCGS MS61. If you planned to pay cash if you won, how much money would you take along for the floor bidding? (Assume that there are other lots that interest you as well.)

Chris

 

This is a tough question. I usually plan my visits to shows, and am always looking for specific items. So I bring enough cash to cover those (if I do, indeed, buy them) and extra for the browsing ('cause you never know what you'll find), coffee/lunch, etc. I also carry my card. Just in case. I actually hate to carry large amounts of cash with me.

 

I bring what I can afford to + 20%.

 

I'm trying to down size my collection, not in total dollars but in total pieces. So currently I'm trying to sell my lesser pieces and take this funding to Philidelphia in August and Dallas in October. I feel it will still take several years to accomplish my new goal. I also feel my children will have an easier/quicker time dispossing of my collection if they don't have to deal with a bunch of average coins and paper currency. ($75 to $90 range) Perhaps one of them may even wish to continue on. I can't complain about my average coins though. They have become my "seed money" to better pieces and were easier to collect in the early times of my hobby.

 

So then it seems these show dealers have a decent crowd of potential spenders at these shows and can do reasonably well.

 

An interesting side note; Dave Harper, a national dealer who writes for Coin Update, says he no longer goes to shows to sell to the public. He goes the first day only to buy from other dealers. He admits he is one of those vacant tables you see there the last few days . This sort of upset me since I feel this will only hurt public attendence and collector opportunity. He claims more dealers are now going just to trade among themselves and replenish inventories. I hope this doesn't catch on. Nothing beats the selection at a show compared to any B&M dealer. This can only benefit the auction houses, including eBay.

 

Doesn't the public also sell at shows? I know I only sold a roll a wheat pennies the last show. Silver was too low to sell but did bring my 1964 dime doubles. I also brought some foreign coins but know they aren't worth nothing so I didn't bother.

 

Yes. They bring in whatever they want to sell, or even trade in some instances, to/with the dealers.

 

I take up to $500 now because I've missed three mega-opportunites in the last couple of years by not having readily available cash. One item was a rare banknote that the dealer had just purchased minutes earlier and was willing to flip it to me for a small percentage over what he paid for it ($350). I was short about a $100 and didn't have access to instant cash. He sold it to the very next customer who eventually sold it on ebay for $2,800 within a week.

I've gone to shows and not spent a nickel and at other shows, I've spent the full $500.

 

I usually take a couple of hundred cash and my checkbook and ATM card. I never know how much I will spend, sometimes nothing and other times quite a bit. CICF last April I spent around $1000 in a couple of hours. I have been to CICF before and spent similarly, and other times bought very little.

 

Went to a show recently, spent between 200 -300 dollars. Other shows I have spent nothing to about 75.00. Going to a show this weekend. Who knows? But I will have about 200 with me, and if really necessary, can get more through my bankcard.

I am working on setting agendas for me as to what I will get and when. But you do never know what will pop up. The two things that threw me over on the last show was that I got a Bugs Bunny Franklin, a bunch of junk silver dimes, and some second-hand books. I didn't really "plan" for those. But the Franklin fits in with my set, and the others are numismatic knowledge for me. And the silver can be sold later if prices rise. The ones I planned for ended up costing me under a hundred.

This show I hope to get a couple things, but mostly just peruse and "window shop" the dealers. Even though dealers may prefer that you are not just looking, to me it doesn't hurt to be able to look at a few coin to get to know the real ones better before committing to buying for a collection (down the road - maybe, maybe not). Looking at coins in hand is so much better than just photos in books and on the net.

 

In many cases I hate to call it spending, as you are really just trading your cash for silver or gold or some really collectible coin, that if needed, and you know what you are doing..... could get your cash back without losing or perhaps making a little profit. I believe the money is only spent with you sell it at a loss. Just my two cents.

 

So people go to these shows PACKED with cash

 

Depends on your definition of "packed with cash"

 

Very true. A couple of hundred to me is not "packed", but to others they might think so. OTOH I have friends who think of nothing dropping 10k on a coin, and 50k in an auction, something that is out of my league, (unfortunately).

 

Mine too