first coin show..any tips?

i am sorry, if this has been asked before(it has to have been asked). but i couldn't find anything like it. i also know that i should have started this thread a few days ago, because the show is in about 7 hours!

i was just wondering if anyone had any tips or do's and don'ts, when going to a coin show? this is my first one since i was a kid(got my first coin then! a dateless buffalo). so i basically know nothing on how they are.

i have made a list to take with me that has the coins i am looking for. i did this because, i know i will get flustered with everything. i don't do well when i get excited!

i also wrote book prices down next to each coin going by grade and also ebay and other places prices.

i always like to treat people with respect, so i am not sure if i should move on if a coin is priced to high or can you negotiate there? also how should i act when looking at there table? i don't want them to think i am up to no good, or anything like that.

also is it ok to bring my coin magnifier to get a closer look? or will they look at me like i am crazy or get offended?

i guess thats all the questions i have, if i think of anything else before i leave i will ask. i am just looking for some tips for my first time.

some things on my list are nothing really that big, but a few are decently pricey coins like..
1917 type 1 slq in au-ms
1890 morgan-CC in au-ms
the others are not that pricey.
1888 morgan-O in ms
any year walker half but it has to be ms(my favorite coin and want a nice example)

there is some other stuff but don't want to bore everyone and am really just looking for what to do..

thanks!

 

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Take your time and walk the floor first, cause you might find a better coin at the same price 2 tables down...and that stinks when it happens

Yes by all means bring your loupe and use it often.

As far as not looking like a thug....well dont set stuff on the dealers cases, don't reach in to stuff without asking first and if a dealer hands you something to look at make sure to put it back in his hands when your finished.

Prices, yes almost all are negotiable and even if not they won't get offended unless your offering like 1/4th of the value.

And have a good time!!
I assume we'll see a report when you get back

 

I dont offer prices I just ask "what the best you can do on this" works like a charm. Its not offensive at all but puts the ball in there court. there has been times though where your best to just pay the sticker price. for example silver dimes stickered lower then melt. dealers might get offensive if you ask for a better deal

 

I use my own loupe (if you're self conscious about reaching into your pocket, wear it around your neck).

A list is good because you will get overwhelmed by what's there. Take your time. It's not a race. Examine what each vendor has. Be aware of cleaned coins. One dealer at the shows I attend has binders full of cleaned coins. When asked, he'll tell you that he didn't clean 'em and leave it at that. Still priced according to catalog prices.

I tend to avoid the sales pitches that I get when I reach a table. The dealers are there to make a dollar and will try to move high ticket items; high profit items; slow moving items and stuff they're overstocked on. Stick to your list (at first).

Be polite when you haggle. If you low ball, it leaves a bad taste and you'll find yourself being ignored.

Once you've made your decisions on the coins you want and purchased them, spend a little time cherrypicking or looking at some of the other items. You may be lucky and find a treasure you would have overlooked otherwise.

This works for me, I'm sure others have their own routines.

 

Yes it is considered alright to bring a loupe, I think it is considered gauche tho to bring an electron microscope. It is alright when quoted a price to ask how firm that price is. Or to make a counteroffer.

I had been told before I went to my first coin show not to buy at the first one, I solved that by going for an hour and then leaving and coming back an hour later.

I read a blog by Susan Headley on ask.com about coin show etiquette. One of the things I do is to ask the dealer to remove any coins from folders, rather than doing it myself. I also like to talk to the oldtimers, just about anything coin related, that is also fun. The third coin show I attended I talked to a dealer from wisconsin for about half an hour, (the show was not real busy).

I have always brought cash to shows, I am not sure how they are with plastic or checks, maybe after a while and if you become known that would be alright.

I think sue headly also wrote about reaching into your pockets, having bags that might be used to steal with, so I brought my wife and had her place items in her purse after purchase, along with receipts.

I have heard some dealers are offended by customers trying to use greysheet prices for purchase, but some dealers I have dealt with let you use their greysheet, tho I would not ask.

I am sure you will enjoy yourself, have some comfortable shoes on, do not be in a hurry, look around at all the different things, and do not neglect those dealers who have numismatic books, tho I have found Telesphere Numismatics book prices to be better than those I have seen at shows.

 

lol!

 

thanks, this is exactly the kinda info i was looking for!

the prices i have written down are from a few local coin shops websites and ebay, also from some books and a site called coinstudy.com(their dealer prices, seem to be on par for most stuff).

i am cheap but by no means will i try and haggle something priced good. they have to make money and am prepared to pay the price.

i know i got to be patient, but i have not got a coin since i planned on going to this show(2 long weeks!). this is a monthly show, so i may take the advice on not buying anything at my first show... well somewhat.

i might wait on the bigger ticket stuff like the CC-morgan and the type 1 SLQ. it all depends on how it goes.

but again, the info given was just what i was looking for. i didn't want to act inappropriately when looking at tables.

i will wear my walking shoes, but it shouldn't be a problem i walk 5-8 miles a day with my dog for exercise.

i am so excited i can't sleep. i was suppose to go to the "big" show last month. its only comes one time a year and is the biggest in my area. but my crohns disease was giving me problems. i am just glad, i am feeling good for this one.

so thanks and if you think of anything else, it will be greatly appreciated!

 

If it's a monthly show it's probably a smaller show. I'd for sure take my time and get to know a dealer or two that seems to have the stuff that I like as you will probably be back

Get some sleep and have a good time

 

Also remember to have fun

Take the time to look through several coins before you buy as the coins you have selected for your want list are relatively common. Since you're not looking for something very rare and hard to find, you can afford to be patient and hold out for an example you are very very happy with... not just one that you are ok with.

When asking for prices (since most dealers don't mark prices on coins), I also usually ask for the dealer's best price... if it's fair, I may buy, if it's too high I don't haggle anymore as I presume the dealer was doing as I asked and gave me the best price. Of course sometimes when I'm walking away the dealer throws out a better price, but I've been going to enough shows in my area that the dealers know me and know to give me the right price the first time.

You'll need cash or coins to trade. Very few dealers take credit cards and I've only seen that at the major shows. Checks will likely only be taken by dealers you've dealt with before w/o issues.

Where's the show at???

 

Also you might consider being there first and on the first day. some dealers are coming from dead areas and shows are there only way to unload things. this means the possibility of good deals

 

yea, its the second sunday of every month. its run by a dealer/shop called "nickel trader".

they either have 50 tables left or they have 50 tables total(its on the link below). is 50 tables a decent amount? considering they rent out all tables, if thats all they have?

either way i am not to concerned, i wouldn't mind a small or big show.

http://www.coinshows.com/castleshannon_as.html

thanks dimefreak. its only a 1 day show. i want to get there as soon as they let people in but i am getting conflicting opening times. one site says 8am the other says 9am.. i will just go at 9..

 

If it's really 50 tables, that seems like a pretty big monthly show. In L.A there are a couple of monthly shows of around 20-25 dealers each. The 2-3 times a year shows get to be 50-80 dealers or so and then there's the big Long Beach show 3 times a year.

Sounds great!

 

Everyone has covered about everything I could think of but I always try to go there early as I want to be there when the best stuff is brought out. That said, I am there early but that doesn't necessarily mean that I buy right away because I shop around for the best possible interaction and the best possible price as I can get. This is an obvious one but act as pleasant as you can, try to smile and be friendly. Last thing is if you are haggling to get a better deal do not say, oh they sell those alot cheaper on ebay!! That would be total suicide!! good luck and have a blast that's what they're there for as they want to have good sales and pleasant customers.

You're sure to see plenty of happy ppl. :kewl:
Oh, there they are!!

 

agreed........50 tables monthly would be impressive. here in michigan we have a spring and fall show with 50+ tables and thats about it at that level

 

then i am guessing they just are able to hold 50 tables and advertise them on that site.

 

Well, it's 7:30 am here in Florida, so you might not see this.

Everyone else has pretty much covered everything, but also keep this in mind:

There is nothing wrong with pulling out your own copy of the Greysheet for reference. The dealers use it, so why shouldn't you? It is a little nervy to ask the dealer if you can borrow his/her copy, though.

If you're standing in front of a dealers display case and you think you see something that might interest you, pull your loupe out of your pocket before you sit down. If you're already seated and you want to get your loupe out of your pants or jacket pocket, stand up so the dealer can see exactly what you are doing. It's always a cause for concern to a dealer when someone seated is reaching into their pockets.

If you're carrying a portfolio or tote bag with you, don't lay it on the dealer's display case while you're looking. It can block the view for other passersby. If there is not an extra chair next to you, put your bag or carrying case on the floor between your feet. Try not to leave your bag unattended or out of your view. You never know, as Charmy can attest to, who might be looking for just that opportunity to steal it.

If you don't see exactly what you want in a dealer's case, you might want to ask him/her if they might have what you want in the rest of their stock. Dealers don't always put everything on display because of space limitations.

Lastly, always be sure to thank the dealer for their time even if you don't buy anything.

Chris

 

Only bring as much cash as you want to spend. Leave the ATM/debit/credit cards and checkbook at home. Have fun! TC

 

Good advice!!! More than once I've spent every cent in my pocket.:smile

 

Excellent advice all around.

I have been to exactly one coin show, a large regional show (CoinFest last October...I wrote a fairly large, comprehensive report which shouldn't be too hard to find as I don't start all that many threads). I was told to look around first before buying anything. I tried it...and it lasted for about 4 tables Seriously, if you see something you want, at a great price, then don't hesitate or else it could be gone. (In my case, my first purchase was a currency dealer, where I picked up some classic red seals and star note issues for $2 for one dollar notes and three for $2 notes. Couldn't pass it up!

Edit: Here is my coin show report thread http://www.cointalk.com/t73570/

Be prepared to be overwhelmed. I was, and I am sure I will be the next time I go to a show again. When you see at the third table you walk past both versions of the Pan-Pac $50 gold coins, graded MS66 by PCGS, you'll know the feeling! (Legend's table) Another table was all world gold dating back to the ancient times. Yet another dealer had high grade Morgans, and so forth. The colonial dealers really have some amazing stuff. I am the first to admit that I don't have a lot of money to spend, and that I'll never have some of the finer things in life...but that doesn't mean I can't look at them and be blown away!

I really like stopping at the dealers who have a little bit of everything. Specialists are nice and if you are really into a particular series, you can't go wrong there. But I find the people who have a little bit of everything have the most interesting stuff. I tend to go towards the obscure, so that may be more of my personality than anything else.

I loved the world coin dealer's displays. I know the next show I get to, that the absolute first stop will be Alan G. Berman's table. By time I got to him the day was almost done, I was almost out of money and we were both out of time (It was a two day show but I was only there one day).

I love seeing the older coins. I think the oldest US coin I saw there at the show was from 1799 but I am probably forgetting stuff now. (US mint issued, there were multiple colonial dealers) The world coin dealers had stuff going back thousands of years. I really enjoy ancients but I don't know alot about them, I have a hard time IDing them even. One dealer specialized in the 12 Ceasars of Rome, and had a whole tray of coins issued in the relativly short time Julias Ceasar was in power, including one of his portrait coins. Wow. Another dealer had some sort of taler that was from the 1700s and was about half the size of my best dinner plates, not a joke!

For carrying stuff, I wore a backpack. It was great, because it freed up my hands, and provided plenty of space...It would have taken thousands upon thosands of dollars to fill it up, which I of cource don't have I had all my purchases, two bottles of (half drunken) water, napkins (left over from lunch, you never know when they will come in handy), my Red Book, my Camera (I took the official show video), a package of potato chips that I got at lunch to surprise my mom with, my notepad, several pens, all three lists I keep (Coins I need, modern issues, Coins I have, classic issues, and I had created a shorthand chart of world coins that I ended up not using until the next to last table I visited!), as many buisness cards as I could find, some pamplets, and both books I bought.
The only real problem with the backpack is that...it made me very hot. I didn't know where mine was at the time (I had not used it since 2000) so I had to borrow my brother's. His was made from some sort of material that just trapped heat, so that was not much fun. I have since found mine and will use that next year, probably won't have as much stuff in it though because the weight ads up.

Anyway....

Don't Settle. I did, and I can't really say that I regret it, but I probably wouldn't do it again. I love circulated coins, but I got some just because they were cheap, but they are so far circulated that there is almost nothing left to them. After I got home I saw one of them, in higher grade, was scratched. The dealer's table was well lit, and I was not rushed, I just plain missed it. I should have known that a coin in that grade should not have been so cheap.

Be polite! Don't interupt people, wait your turn, never push anyone out of the way, don't make nasty remarks if you don't like the coin or think it is priced too high.

Don't try to take notes during the show. I did. I keep very specific records of my collection and I keep multiple charts of what I own or don't own (depending on the era) with me when visiting coin shops or shows. When I started buying stuff I was writing it onto my chart as I went along but it just didn't work. I had limited time, with the show being open only a select limited number of hours, and I knew I would not be back. Some of the notes I took ended up being illegible, some were crammed into odd places on my chart that they didn't help me when I needed to cross reference something. Eventually I simply stopped trying, and just winged it on memory. I only ended up with one duplicate purchase, and it was a case where I bought both copies that day, not something that was part of my collection beforehand. Luckily, it was a buffalo nickel and neither one cost me more than $2.

When you sit in a chair at a dealer's table, don't sit on the end and pull the chair in. I can be happy to say I didn't do that, but I was not able to get through an aisle because there were multiple people sitting on the edge of the chair, pulled out so far that were practically leaning over to see the table. (Well, it was really only one guy, but the other guy didn't pull his chair in either!) Luckily, the dealer was paying attention and asked the person to pull their chair in, which they did. I don't think they did it on purpose actually.

Don't hesitate to ask questions! In real life I am a very quiet person who doesn't say much and has diffaculty talking to people if I don't already know them. It wasn't easy for me to strike up conversations with people I don't know, but I was able to and had a very pleasent time. Mostly I was just talking to dealers but I did also talk to several message board people, that even though I had never met them I knew who they were and that helped me out big time. Most dealers I have met are actually friendly, knowledgable people who are happy to spread the knowledge around, regardless of what you see people say on the net. In all the people I interacted with at CoinFest only one person was not nice to me due to the way I look, I am sure.

Don't be confrontational! If someone tries to tell you something as gospel that you know is not true, simply say something like "I didn't know that, that's interesting" or something along those lines, don't say "You're a nutcase" or start to fight it out. I have not seen that at the coin shops or show I've been to, just something I've picked out of life experiences.
If someone starts to make fun of your purchases or anything you brought to trade or sell, it's not a bad thing in this case to "take your ball and go home". If you are happy with your coins, then that is all that matters. If it's a dealer who you are trying to sell something to, don't take less just because they said that...either talk them to what you feel is fair, or bring the coins home with you.

BRING CASH! Most dealers are not set up to take credit cards at a show, and checks are just simply a hassle. Cash is king, and in some cases dealers will cut the price a little bit if you pay cash, although that should be taken as a pleasent surprise, not something to expect. (They have to pay a fee to credit cards, and they might for checks too, I am just not sure.)

Hope that helps, have fun, and give us a report when you get home!

 

Same advice I gave someone else who posted this question;

Try not to drool!