Coin Show Etiquette

I spend the 18 and you get all the extra's, because the main is not good for all. Just early commems, morgans and a few more things.
But the 18 quartely deal gets you the main and the blue sheet and the green sheet and all the quarterly updates together.

 

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isn't it rude to ask dealers to sell you the coins at the prices they buy them for? That's what the greysheet is, it's the dealer to dealer price guide, so unless your another dealer, it's very rude to wave a greysheet in a dealer's face demanding those prices. To be more realistic as to the prices you should expect to pay for the coins, I'd suggest subscribing to coinworld and coinvalues and using the coinvalues price guide for pricing instead of the greysheet, it won't be nearly as offensive to use those prices as it would be to use greysheet prices as your resource unless your actually a dealer.

 

Yes, I would totally agree as to that part of your post. But would also think you could replace "grey sheet" with "red book" and it would be offensive to "wave" anything and to "demand" anyting.

No, I don't think it's rude to ask for grey sheet prices. And that is not always what they buy them for. Plus what makes a person a coin dealer vs not a dealer? There is no special badge that I know of that you have to get to get in the club.

Yes, most people should expect to pay closer to coin mag prices.

No, well I ran out of things for now

 

Buying coins is a lot like buying anything else. Just don't be rude and do your research. Coin dealers are not from a another planet or country and require special treatment. If they are hungry they will work with you, if fat and happy...you move on.

One thing I noticed is a lot of the tables were just one or two dealers and sometimes the second guy is just a baby sitter. He can not and will not open certain cases. It does not take much for them to get busy. If the guy is without customer, dive in. I also was very careful when pulling coins to be obvious about it and put the ones I want out in the open so he can see what I am doing. This way they can relax a little if they are with someone else. They are also much more appreciative of this when they come to you.

 

I don't think it's rude, if your a dealer, to ask for greysheet prices, but imo, there's a very fine line between asking for a better price and asking the dealer to sell coins close to the prices they pay for them. Also, most of the coins bought by dealers below greysheet prices are purchased by dealers from collectors, those prices are blue book prices.

If you're going to a coin show looking to buy coins for a collector who gave you their want list or anytime your buying coins to resell, that makes you a dealer in that situation, but if your buying coins exclusively for your collection, that makes you a collector. However, if you have a ready market (i.e. a collector's want list), that'll prove to the dealer that you're another dealer and in that situation, it may be appropriate to ask for greysheet prices, but if someone I knew wanted a specific coin for their own personal collection comes asks me for greysheet prices on that coin, that may offend alittle depending on how well they try to ask it.

If they ask as politely as they can, it may ease the rudeness of the question, but imo, it's rude to ask for greysheet prices if I know your going to add the coin to your collection, but like you said, some dealers pay other dealers less than greysheet, so before you ask for greysheet prices for your coins, just make sure to use common sense when asking for greysheet prices, the dealer's attitude when asked other questions about the coins will usually give you a good sense as to whether or not they'll mind being asked to give greysheet prices.

The best way to tell whether or not they'll be willing to give you greysheet prices is to ask the dealer how much they paid for the coin(s) your looking at and if they paid more than greysheet (which is common among younger dealers, but rare among more experienced dealers), than don't even bother asking for greysheet prices, but if the dealer is uncertain as to the price they paid for the coin, they may be more willing to bargain with you, that can be figured out by paying attention to their demeanor while being asked what they paid for the coin(s).

 

You're right - there no special badge. And that's why anyone can call CDN (or log in on the computer) and purchase their own greysheet. If you want to do that, I have no problem (see below.) On the other hand, if you want access to the prices, all I'm saying is that you should bring your own greysheet, and not ask for the dealer's.

What I would have a problem with is waving around the greysheet and then saying that's what a coin should cost, or that's what a dealer should pay for a coin. Greysheet prices are dealer-to-dealer wholesale prices, for average coins, nothing more or less.

 

that's good advice, anything you can do that'll help the dealer to relax will go a long way, especailly while they're with another customer, which is why you have to be careful when asking for a better price. If the dealer knows how much they paid for the coin, do not knowingly ask for a price less than 20% more than what they paid for the coin. That number can be adjusted based on the dealer, but the thing you never want to do is knowingly ask the dealer to sell their coins at a loss to them and the best way to figure that out is to simply ask them how much they paid for the coin(s).

 

yeah, I agree, I think that "should" attitude towards the prices of everything is a very snobbish attitude to have. It's ok to want the best price possible, but there's a very fine line between asking for a better price and telling a dealer what a coin "should" cost. That's just my opinion anyway.

 

on this greysheet talk since i probably wont take one when i goto the show in milwaukee if the first thing you do is walk the floor isnt it just as good to compare dealer prices instead of start looking at a sheet everytime you see something you want?

i guess i should add i know some dealers which are real easy to get a little something knocked off any priced coin while others will not budge on prices at all i suppose a coin show will be the same way? i mean this in a you can tell who would before you even ask sort of way.

 

I also think that we have to differentiate a little here. Right now as I fill in the holes in my various sets I am just going after smaller scale purchases. Anywhere from $3 to $50 a coin. Later on when the holes are filled I will start going after the keys. I think some of these responses are based on some of the heavy hitters going after more up scale purchases. Then the discount and Grey sheet is of more importance. When I was at the show here in Dallas last month I would typically buy $50 worth of coins from a dealer at a time. So after I pulled the coins I wanted and he totaled the purchase, I would ask in a joking way for the family discount and what ever he gave me as long as it was somewhere between %10 and %20, I was not going to haggle. Later on when I am buying $100+ coins I will be more interested in market values. This is how I looked at it.

So what I am saying if it's a $20 coin or what ever don't get lost in the grey sheet thing.

 

Most dealers would love for you to walk up w/a coin magazine and pay what it says. Even an inexpensive coin can be had for a good price.

An example would been an older wheat cent in good condition. Trends may value at 2.50 and Greysheet bid may be 1.60 The dealer may sell it for less than 1.60 because they occasionally get this type of coin in a large lot or even in a roll commons that they paid 2 or 3 cents for. Some things you can get at greysheet or below and some are not likely to.

I would always go for a good price whether the coin cost $4 or $4000. Its your money-spend it as wisely as you can.

Lack

 

well when i goto the CSNS show ill be looking mostly at $100+ coins. i dont want to say the guys around me deal in junk but youre never going to put together an award winning set either. ive read here about dealers that grade well but overprice or dealers that overgrade thats why im just thinking if you check all the dealers out before you really look at specific pieces thas should give me a good idea of whom i may want to buy from? i also havent been to a show before and i talked to 900fine for some advice but i guess im just looking for that extra intuition.

 

your getting some great input here and good luck.

 

Why do I think the seller should be more worried about " Etiquette" ?

 

My girls rule: only cash from my coin fund and no credit cards in my wallet!! I has always had a hard time saying no!!

 

Think I am ready for this coin show! Thanks loads for your input and suggestions. Feel lot more comfortable.

 

The SF Mint Coin show is divided by about 8 or 9 smaller rooms where you have 2 to 8 dealers in each room. You'll go into one room and be able to peruse say 3 tables of coins and then start all over again in another room with 7 or 8 dealers. So, basically when you step out of the room into the main hallway, you're in neutral ground, no pressure there.
When I was there, last November, for the first SF Mint show I got to meet The Penny Lady, Charmy, Rick Snow and Jack Beymer and others. I was priveledged to leave my money with Rick and Charmy. I think there were less than 40 dealers so you can take your time and shop around. Good luck.

Bruce

 

Great stuff guys. I skimmed most posts and agree with most of it but I havn't heard any body say it rude to interupt a deal. Several times at the last FUN show I was involved in a coin negotiation and a person butted in and interupted the conversation to "see a coin" or start their own conversation. Then usually the dealer would be tempted to answer them! I couldn't decide who I wanted to throttle first! Frustrated I actually blew off a deal over it and walked away. I've been known to protest and say "lets finish our deal first please". I do like beeing at shows where people are tripping over each other to buy great coins, but I appreciate a quick moment of undivided attention. The worlds best negotiation can happen if somebody interupts it. Of course a dealer won't dode on me if I'm thinking forever or fumbling for a reference all day. I'm just saying that if I see a dealer locked up with someone I take a stroll or bathroom break and come back. Its better that way for everyone. JMO.

 

If this happens to me and another customer interrupts, I politely say "I'm sorry, I'll be with you in a moment after we finish our discussion, or perhaps my wife can help you in the meantime?" if she's there. And I am polite to everybody (most people make it easy; a few do not), but remember that a dealer's time at a show is valuable. And other customers do intend to buy. If you have no intent to buy, don't share all your Coin Stories and tell about your collection. Look at what the dealer offers, say your piece, offer your coins if you have them to sell, whatever--and move on. Please don't spread out your Greysheets (give me a break, did you buy a table?), Red Book, want list, and everything else you are carrying out over three of my display cases when other people are shopping around. Common sense, courtesy, and consideration go a long way in any endeavor.

 

(give me a break, did you buy a table?),

Read more: http://www.cointalk.com/t103646-3/#post868006#ixzz0lkDmsJXO
On that note what do you belive buying a table gives a person? Everybody has expenses when attending a show weather a dealer or collector. The cost is relatively equal in travel, lodging and food. We all leave our jobs and family behind or put them on hold. The only difference I see is that a table cost more than a door pass, but we all pay to attend a major show. In the real world a business must absorb costs of rent or mortgage and that is never a good idea to project that as as a weapon on custors. I resent the idea that buying a table gives a person some level of prestige. It's risk vs. reward. Anybody can buy a table and unless a person is there to buy I don't see the point if you want to pick up or sell a few coins. A table has an advantage as a place to leave your coat, but dont ever assume your time is more valuable than mine.