Coin Shows And How They Oporate Ok everyone; here are my next set of newbish questions. First, forgive me if this information has been shared or discussed in other threads. If it has, please post the thread. Thanks. I'm basically wanting to know specific details on how coin shows run and operate, both from the customer and the dealers perspective. Here are some examples of things I'm looking to learn: 1. What are the general rules (safety, respect, tact, etc.) that a customer should know when attending any given coin show. 2. Are most "dealers" represented at a show professional businesses, or can anyone purchase a table (kind of like a swap-meet)? 3. How do dealers perceive customers who negotiate? Is negotiating an accepted form of business or is it generally discouraged? 4. Are most coin shows similar in atmosphere/mood, with only the vastness (amount of tables) varying? Example, are some more relax/professional than others? 5. Generally speaking, do dealers enjoy looking/grading/evaluating coins owned by customers? And will dealers make offers on a coin they see one they like? 6. What are some of the common things to look out for when purchasing coins at a show (fraud, misrepresentation, etc.), if any? 7. Do many customers bring along magnifiers and evaluate coins themselves? Do dealers mind people scrutinizing over the coins they are selling? 8. Are dealers willing to trade with customers? Are they open to the idea? I'm sure I will think of some more, but I'm at work and can't spend much longer typing. I appreciate all your responses. Hopefully your information will not only educate me, but others that visit this site. Thanks Eric
Okay lets see if I can help a bit. 1. Safety. Always remove any sign of being at the show before leaving the building. If possible have a friend with you. Two are less likely to be robbed than one. Always go into a show with the idea of having fun. Shows can be overwhelming for the new collector. Always remember that the dealers are there to make money. If you are only looking for information, remember to be polite and allow customers to come first. 2. Most shows require you to be a licensed coin dealer in some state with a tax id number. 3. Feel free to make an offer on any coin. Do so with a legitimate offer though. Don't offer a price if you are not willing to meet that price. 4. I believe that most shows are conducted the same. It is usually a fun place to do business and meet people. 5. Generally if time permits, most dealers do enjoy seeing other coins. However, most do not make offers out of the blue. If you wish to sell a coin, you should quote a price and allow the dealer to buy at that price, make a counter offer, or pass on the coin. All dealers will quote you a price on their inventory, and you should show them the same respect. 6. Usually, there isn't a lot of fraud on the show floor. Yes there are over priced coins, and bad deals. You must know your material and your dealer. Do not rush into a purchase solely on price. 7. All customers should have a loupe for viewing coins. Most dealers want their customer to be picky. Do not however walk in and act like you know more than you do. Dealers can spot this a mile away. Ask questions. Ask for the current greysheet price. Realize that you will pay more, but will give you a general idea of where to start your price. 8. Most dealers will be happy to trade coins. The most important thing to remember is that you are engaging in a business transaction. Be respectful, and remember that it is your hard earned money that you are spending. Spend it wisely. Be picky. Ask as many questions as you like, and pick a dealer the same way in the way that you pick your coins. As with coins, all dealers are not created equally. Some will stand out in the crowd. They should treat you with the same respect as you treat them. Some will be more talkative than others, and some will know more than others. One little trick at the show. Ask other dealers to recommend a dealer to you for the material that you are seeking. This will give a you a base idea of who to spend your money with. Hope that helps.
Wonderful! I know most of those questions could be concidered common knowledge, but just wanted to make sure. Also, I'm glad to hear that most dealers are licensed (was always curious about that).
National Dealer covered it nicely. Allow me to amplify a few comments. The usual rules of courtesy always apply. Everyone loves the junk boxes and at a few shows, I just gave up trying to look because other people were pushier or commanded more space or more time. If you are aggressive, that's you, and that's fine, but that's not me. So, don't block aisles and don't punch anyone in the nose. That depends on the show. Local shows, sponsored by a single local club, tend to be informal, often a chance for club members themselves to be dealers for a day. (Even so, I know dealers with international reputations who make local coin shows because they appreciate the local markets and their local friends.) State, regional, and national shows are another matter, entirely. One reason that I like sponsored shows is that dealers have to make some level of professionalism. In Michigan, MSNS has a "point" or "star" system for awarding tables. Being a life member, being an advertiser, and so on, are all important to getting on the bourse floor. At ANA conventions only ANA members are awarded dealer badgers: everyone working a dealer's table must be an ANA member. If you want the coin and can afford the sticker price, then bargain away! There are many ways to do this and the gentler are better. Convince means "conquer" while persuade means "sweeten." The mood of the show depends on floor traffic. Poor turnouts make dealers unhappy. That does not translate into "happy to see a buyer." Unhappy is unhappy. Local shows in particular, and all shows, really, are places where old friends meet, if only once a year for the last ten years. Being new to shows, you might keep in mind that you are not so much bargaining for a good deal today as you are building lifelong relationships. Rarely. If you have something to sell, offer it and state the price you want. (Let the bargaining begin!) You cannot just show an array of material and expect them to make an offer on this or that. However, if you offer several coins and state your prices, you should also expect them to cherrypick you. They will want to buy what they want to buy, not what you want to sell. So, what show are you going to?
