Coeur d'Alene Coins Show Finds

Discussion in 'US Coins Forum' started by FmrFiatFollower, Feb 26, 2012.

  1. FmrFiatFollower

    FmrFiatFollower Note-orious & Numismatic

    I went to my very first coin show today; I'm rather new to collecting and thought it would be fun to look around. I've read many threads where people on CT discuss sorting through discount bins and end up finding some really nice coins so I was optimistic I would be able to find some interesting coins also.

    As I walked through the room, I stumbled onto the find of the day! A lady was selling Franklin halves for $3, Walking Liberty halves for $4 and 1964 Kennedy halves for $4 also. She also had a box full of 1965-1969 Kennedy halves which she was selling for $2.50 each. I bought 55 40% halves and 14 pre-64 90% halves and paid $188.50 for them all.

    She also had four binder full of state quarters that were uncirculated; ordered straight from the mint. 2 binders contained complete sets of all the P and D mintmarks in each binder, the other binders were a complete set from the P and D mints as well (one per binder). I paid face value for these, and since I bought them all, the seller through in a 1921-D Morgan dollar, and two pre-64 Washington quarters.

    I didn't have any luck sorting through the discounted coin bins, and in my opinion found that even at "discounted prices" these coins were still overpriced. All-in-all I was impressed with my first show, but remain certain this was a fluke, I don't expect to have such good fortune at my next show.

    What is the best thing(s) you have found at a coin show this year? Any treasures in the discount or "junk" bins? I'd be interested to see what kind of deals some of you seasoned numismatists are picking up that I may be overlooking.
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  3. aandabooks

    aandabooks Member

    Sounds like you ran across a seller that has not been doing their homework. Awesome haul!!!
  4. ikandiggit

    ikandiggit Currency Error Collector

    Right place at the right time! I bet the seller was happy with the sale, too.

    My last show I went to was pretty sparse. I spent less than $20 and on nothing too exciting.
  5. cmilladoo

    cmilladoo Keepin it Real

    so you're saying that someone paid to be a dealer at a coin show and then sold you silver halves for 20 percent of melt value? Am i missing something because i find that hard to believe unless the coins were stolen or the person was a scam artist.....why would they sell them for much less than they could by simply walking into a coin shop anywhere? Maybe i misunderstood what you were claiming but if not, wow.
  6. FmrFiatFollower

    FmrFiatFollower Note-orious & Numismatic

    Admittedly, knowing their value now, I do feel convicted in purchasing them for such a low price. I had recently learned about CC silver dollars so I did tell her that a 1884 CC Morgan in the GSA case priced at $15 was too cheap.

    I understand this question may differ from individual-individual but I'm interested in hearing from some experienced collectors (or new collectors if you can add something of value): How do you deal with good deals that are priced too low? Do you snatch them up and not think twice about it? Do you tell them their prices are too low and offer them a few dollars more? Do you tell them the value and rely on them to give you a better deal for telling them?

    I think we are all in this to get a good deal, but where is the line drawn between getting a deal and taking advantage of someone? Looking back at it, I can only assume she didn't know what the value of these were, and even though I wasn't sure of their total value I knew it was a good deal.
  7. FmrFiatFollower

    FmrFiatFollower Note-orious & Numismatic

    Hey, cmilladoo:

    Here are the photos. The booths on either side of this lady were selling the same coins for more money so I knew the prices were good. I doubt this 65+ year old women was selling stolen coins, nor do I believe she was a scam artist, they appear to be 100% authentic.
    IMG_8626.jpg IMG_8628.jpg IMG_8622.jpg IMG_8623.jpg
  8. FmrFiatFollower

    FmrFiatFollower Note-orious & Numismatic

    Other than doubting Thomas, I haven't had any responses to my question. I know it's a hard question to answer but please let me know your thoughts.
  9. Merc Crazy

    Merc Crazy Bumbling numismatic fool

    If she opts to set up as a dealer, it's fair game. I would have probably cleaned her out.
  10. FmrFiatFollower

    FmrFiatFollower Note-orious & Numismatic

    Thank you for the honest response, Merc Crazy. I did. I bought all the coins with prices I felt were low.
  11. Sully

    Sully New Member

    I would have bought all I can. No differance than if you walked onto a car lot and found an auto you liked priced well under what it's worth is. You wouldnt offer more money to the dealer would you?

    With that, I really need to research my area more as I'm only about 45 mins from CDA. Would have liked to gone to this. Congrats on your finds.
  12. chip

    chip Novice collector

    I picked up a 1910 caballito for 40 dollars. I had been looking for a nice one to replace the one I had, this one has original surfaces, shows some unattractive album toning, I am thinking of a quick dip for it. I have only been to one show so far this year.

    I have more or less quit looking, usually I do not have lots of hours to spend and so far I have found nada, so I let the yns and others have anything that might be there.

    I know you mentioned that you were looking for comments from seasoned numismatists, I consider myself a novice with just enough knowledge to get myself in trouble.
  13. FmrFiatFollower

    FmrFiatFollower Note-orious & Numismatic

    Thanks for the responses, Chip and Sully.

    I will heed your advice, Chip, and forgo the discount bins unless I have a ton of time on my hands.

    Sully, I had heard nothing about the show either until the very last minute. It was held at the Kootenai County Fairgrounds. I know there is a show in Spokane as well, but I wouldn't know where. I have heard a group gets together for a monthly meeting but I think that is more for show-and-tell, trading/bartering, and socializing with other like-minded people. I'm almost certain there would be no "deals" there.

    Best of luck.
  14. JCB1983

    JCB1983 Learning

    excellent score fiat. May be a fluke, or you just might have the "magic" as I like to call it. Good things happen if you have any magic.
  15. Sully

    Sully New Member

    FIat, I know the spokane county gunshow and flea market is 6-8 Apr at the Spokane county farigrounds. I went last year for the first time and they're is a pretty good coin dealer showing at that one. I hope to get to go again this year.
  16. Yacorie

    Yacorie Junior Member

    Maybe the coins belonged to her late husband or were just something they accumulated over the years and she got what she thought was a good price for them and you obviously got a fantastic deal. This is different than having a lady go into a bank or finding them at a yard sale.

    Congrats on the great finds
  17. Sully

    Sully New Member

    Fiat, do you mind me asking if you use any of the coin dealers in the spokane/CDA area? ANy you would recommend.?
  18. icerain

    icerain Mastir spellyr

    Those look like good coins, the dealer may not know the value of those coins or are trying to get rid of them on the last day of the show. In either case you got a great deal, I would have bought out her entire stock at those prices.
  19. oval_man

    oval_man Elliptical member

    First, congrats on attending your first show and for your finds. As for the ethical question, it's an individual matter, as you say. Personally I would not feel comfortable doing it (paying 20% of FMV). She obviously is a novice, may have gotten the coins "from her late husband" and may not worry about it. On the other hand, she might regret her error once she realizes it; her profits may have made a nice birthday gift for a grandchild. Of course this is all speculation but I personally would err on the "do unto others" side.

    I'm surprised a dealer next to her didn't make the effort of telling her her prices were way out of line.
  20. FmrFiatFollower

    FmrFiatFollower Note-orious & Numismatic

    Thanks for the information, Sully. Shoot me a pm sometime and maybe we can grab a coffee and talk shop next time your in town. I have missed the last 3 gunshows and will be going to the next one for sure. To answer your question, when I'm in Spokane I use Coins Plus on North Division Street. I have used a few different ones but find them to be competent, and willing to help if you're willing to wait though their lines; they are quite busy most of the time when I'm there. They have also given me some nice supplies free of charge.
  21. FmrFiatFollower

    FmrFiatFollower Note-orious & Numismatic

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