Hey guys im thinking about going to my first anual coin show this weekend. Any tips or anything I should take or watch out for for a first time collector? Thanks!
Bring your own loupe/magnifying glass. Ask a lot of questions. If they have multiples of the same coin ask for a discount. Sometimes they will give a small discount. Always wait to talk a dealer after they are done helping another customer. Never talk to a dealer already helping another customer. If they are very busy go onto the next table. If you have made a list of coins you are looking for take it with you. Try to have a budget. Do remember that you have rent and food and bills to pay later. I think there was only 1 other time I saw a coin I had to have that was out of my budget and they accepted credit cards. Yes.... I made payments on a coin and yes that coin rarely came out on the market. If you are selling/trading coins with a dealer expect to get less than retail for them.
Which annual coin show are you going to visit? Bring a light bag with a strap and keep it on you at all times. Set a budget for yourself. Don't go crazy for items such as a 1955 Doubled Die that will cost you $2000.00 then you find yourself later with no money and in debt! Enjoy!
If you bad-mouth a coin hoping to get a better price, you are more likely to be asked to move on. Chris
I've overheard this myself. When the guy left the table the dealer really verbally assaulted him, lol. It was the guys own fault though. Was a real tool. What I can tell you from my first few experiences are that you should not be afraid to browse. Afford yourself the time to browse, this isn't like going to a grocery store where you are in and out. If you afford yourself time, you will be able to talk to people. Please don't be afraid to do this. I was my first few times and it shows. I take the time to talk to people and bam, the deals start to flow. I haven't met a coin dealer at a show who doesn't want to chit chat at least for a few minutes and in this time you can learn a lot. Good luck and I hope the excitement continues!
I will sometimes just ask the dealer what he thinks of the coin. I seem to get really honest answers, most of the time. I have been to a lot of shows over the years and still have a habit of walking the whole show and taking notes of what to go back to. Never had enough money to buy everything I want.
Know what you intent is. Make a shopping list BUT keep it VERY short and of low value. Leave you checkbook at home. Take just enough money to cover your shopping list. It's very easy to get carried away and overspend.
I'm off to Fargo, ND this weekend for the Red River Valley Coin Club 59th Annual Coin Show. I will take with me the following: 10x loupe, need list for my Walker short set, enough money to buy at least two coins from said need list....……...oh, and my wife.
Take a 10x loop, cash (you maybe able to bargain and get a lower price over credit), be polite, have a want list but be open minded, browse and enjoy yourself. Not every dealer will be pleasant so more on. You're under no obligation to buy. Be patient and wait if the dealer is busy. Do not interrupt or offer advice. Ask all the questions you want and allow lots of time. Set a budget. And don't get caught up in the moment. Have fun.
If your first show, consider it more an educational venture rather than a shopping trip. As a newbie, your first show should help you decide on your interests from both numismatic and financial perspectives. Assuming your interest is US coins, take a recent copy of the Redbook (or buy one there). Consider it more a reference guide to coin types and mintages rather than an accurate price guide. The prices in it are usually high, but at least you can see relative values and what might be in the ballpark. Cruise the whole show before buying. Talk to dealers and other collectors. Jot down prices. Dealers will almost always come down from prices on the coin packaging or slab. If any dealer puts pressure to buy or tries hard-sell, back away politely. Don't buy until you've gone through the whole show and made notes. Then make your decisions, go back and make purchases. If in doubt, don't buy. I've attended many shows where I bought little or nothing and still considered them great experiences. Comfortable shoes are a must and so is a shoulder bag for your notes, Redbook, magnifying glass, snacks, water, etc. If the show has a website, it will probably have some sort of admission coupon available for download. Cal
Make a go-around of all the tables and make a note of coins you are interested in. Then decide what you want to go after and go back to the dealers. This will keep you from spending your budget only to see something you REALLY want. I’ve yet to go back and found that a targeted coin was gone. I suppose it will eventually happen, but it hasn’t yet. And don’t feel obligated to buy something. There’s always another opportunity.
Most important is to be prepared. Have a list of what you want to buy and what you want to sell, along with market values for your target grade. If you know this stuff by heart (eventually you will) then great. Also, don't just start buying at the first table you come across. Walk through the entire show and see what is available. Take notes if you find something you might be interested in. When you're done with your walk through, then it's time to make decisions on what you want to buy. This way you don't buy a coin for $50 and find the same one for $20 in better condition at the next table. For large shows, a complete walk through is impractical, so try to break the show down in sections and do a walk through and buy in each section in turn. Usually they have dealers with like material in the same areas of the show, so that helps. Of course, if you find the right coin at the right price (especially if it's a bargain) or you see a good cherrypick, just buy it during the walk through. Sometimes if you don't, it won't be there later when you go to buy. I've had this happen. This advice is only for very special coins. If you can find a dealer list before the show, you can go on their websites or request their inventory lists ahead of time. That way if you see coins you might like you can ask them to bring them and hold them for you at the show. Likewise you can also request that they bring whatever you're interested in browsing through (especially true for world coins). Dealers can't bring all their inventory to the show, so asking ahead of time is a good tactic to increase your odds of finding something you need.
At my first coin show I walked around to see what everyone had. There weren't many bourses that were empty, and most of them had a couple of people sitting and going through the coins. So when I decided to get serious, I found a chair and started going through coins. The dealer didn't seem to mind since others were doing the same thing. I never really talked to a dealer until I was ready to buy. I even had one dealer knock off $10 from a coin without me even asking! My son, however, came across a dealer who talked a lot and joked around, and got a couple of bad deals. It is what you make of it.
If you buy 4-5 coins from the same dealer ask for a discount. Most of the time they can and will give it to you. If they don't do it do not act crazy because they have to make a living off the coin sales. Talk to other coin collectors there. This I find fun and exciting. I usually bring 1-2 coins to show off to my favorite dealers or other collectors I run into. Drink water. Wash your hands after eating. Have fun.
I always approach interacting with dealers from the perspective of acting how I would want my customers to act at my table if I was a dealer. That means do not interfere with transactions currently taking place, asking to examine coins that are not already in pick bins, having both of my hands clearly visible at all times, not doing anything with my bag unless I am intentionally removing something/putting something in, clearly stating my intentions, etc. Very rarely do I get a negative response from dealers, and the ones I get a negative response from are generally those who are negative to begin with. Chatting with the dealers makes up most of my time at shows. Dealers passionate about the hobby will enjoy talking with others passionate about the hobby, especially if business is slow at the time. Being engaged like this often inspires the dealers to work with me on their prices. Sometimes dealers at shows will have coins which I almost never get to see in hand (Aes Grave, proof seated dollars, AU draped bust stuff, etc.), so I often ask them (if they aren’t busy) if I could examine those coins even though I have no intention of buying them. If the dealer is halfway decent, he/she would have no problem doing so and answering any questions I have. I learned a lot by doing this. Coin shows are really what you make of them. I always stay from opening until right before closing. If you are just there to check something off your list, there is nothing wrong with that, but there is so much more that you would be missing by not interacting.
Bring a checkbook, and bring your spouse or significant other for a second look of the coins you want to purchase.
Its in Mesa Arizona outside of Phoenix. Not sure how big it is compared to usual coin shows I just know the one at this location is once a year. I believe they have smaller ones around the city more often but this would be my first one. Thanks for all the responses and some good tips! Ive been mostly buying coins on ebay which is fun. Some random lots and single coins that I like.
Be polite don’t be afraid to ask questions. Though not when a dealer is busy. If it’s slow many dealers will be happy to show you whatever you want to see. Don’t be afraid to ask when it’s slow if there’s anything special you should see and tell them it’s your first show. I had a very different first show experience. Mine was on the back side of a table as a dealer. I love going to shows but usually go as a dealer yet I’ll often lock up and look around. By the way. If you see something and the dealer is locked up and not there don’t be afraid to go back or ask their neighbors. Some dealers are alone and need to use the bathroom or grab a drink or bite to eat good luck and good hunting
