FIRST Coin show Questions

Discussion in 'Coin Chat' started by slackaction1, Mar 22, 2023.

  1. slackaction1

    slackaction1 Supporter! Supporter

    I am going to a Coin show at the Harrah's Casion Convention Center IN Kansas City Saturday. Would it be worth my wild to take some ASE and other U.S. Coinage with me to Sell or Trade. I don't know if its allowed or not I am assuming so, since I don't see anything in advertisement that's it's not. I going to find out about my negotiating skills against these Dealers maybe make some new connections. Anything I should expect when I get in there. Thanks, in advanced for replies. Holt, Terry.
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  3. AdamL

    AdamL Well-Known Member

    Have fun! I wish I could go. I'm only a couple hours away but I have scheduling conflicts.
    There is nothing wrong with taking coins with you to try to sell. Trading can be a bit complicated sometimes. Might be better to sell to one dealer and then use the money to buy from another.
    Sounds like it should be a pretty good show from what I've heard. Not huge, but big enough.
    Take your time shopping around and making decisions. And please give us a report on the show in general. It's one I may attend next time they have it.
  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Oh yeah... There are always active buyers at coin shows. I never had much luck on offering trades. Usually the guy with the coin I want isn't the guy that wants my coin. But you will see many tables set up with "We Buy Coins" signs...... What to expect when you get there? You will feel overwhelmed when you walk in the door. It's that "kid in a candy store" feeling... Where should I go first type of thing. Fight that feeling and make yourself be methodical as you traverse the bourse. And don't make the mistake I tend to make.... I'll see a coin that I want but want to view more tables to see if that same coin is available elsewhere at a better cost only to come back and find the coin I wanted is now gone. If you see a good deal, make the deal then because it may be gone when you get back. Most of all... Enjoy the experience!
    lardan, BuffaloHunter and Inspector43 like this.
  5. slackaction1

    slackaction1 Supporter! Supporter

    IMG_0852 (1).jpg I am going to try to purchase Gold if I sell anything was wondering about Security at these things if they search you going in with a bag of coins that you have.
    Last edited: Mar 22, 2023
  6. BuffaloHunter

    BuffaloHunter Short of a full herd Supporter

    It never hurts to ask if someone is willing to take coins as trade for some of theirs. Most of them are going to ask "what do you have?".

    I've never had security stop me wearing a backpack at a coin show. Plenty of folks in the show will be doing the same thing.

    Have fun at your first show and be sure to share with us how it went and all of the goodies that you bring home!
    -jeffB and Randy Abercrombie like this.
  7. Cherd

    Cherd Junior Member Supporter

    I personally avoid trading or selling to people that are operating on the assumption of, "I have to make money on this". However, if convenience is a bigger priority to you than getting fair market value, then it might be the way to go.
    slackaction1 likes this.
  8. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    Leave the gun at home.

    Security (if it exists) might or might not ask to look in your bag/backpack when you enter the bourse.
  9. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    You can sell. Trading is not a great idea. Most dealers will want to break up a trade into two a buy and a sell for recording in their books anyway. Don't overcomplicate it.

    Some other advice; if it's a small show, do a walkthrough of the bourse first to see what type of material is available and from what dealers. That will help you to know where to go to compare coins if you're looking for something particular, and it will also help you to identify which dealers are likely going to be the best target for what you're selling. For example any old dealer may make you an offer on your ASEs based on melt value, but a dealer with a case full of ASEs might give you a better offer because he would have a more established clientele for them and a more nuanced understanding of their value.

    While sometimes yes you do see the right coin at the right price at a table and it jumps out at you - absolutely just buy it. But for more common material don't be afraid to look around before you buy. You don't want to buy a coin at the very first table you see only to go to the second table and find a significantly better example for the same price or less.

    Make sure you bring a loupe with you and also bring cash. All purchases are assumed to be priced for cash unless something else is specified or posted at the table.
  10. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Quite do get some odd looks and raised eyebrows.

    A few years ago I attended a small show with a particular date Booker T. commem in an NGC holder that I thought I could swap for a PCGS holdered one (how's that for a run-on?). I found a dealer with what I needed and initiated my proposal.......odd looks, head scratch, and chuckles. In the end he did trade me the PCGS but I won't try that again.
    Actually, if I was trying to upgrade a coin to a higher number I might try it.......Coin + cash. :)
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  11. -jeffB

    -jeffB Greshams LEO Supporter

    For a number of years I had good luck buying under-priced lots on eBay and selling the stuff at local shows. People are (almost) always buying ASEs and junk 90%. (I do remember one or two shows when silver was in a really bad slump, and my usual dealers said they just weren't buying. Their loss; you're supposed to buy low.)

    Do make the rounds asking people what they're offering. I've seen offers vary by 20% from dealer to dealer for common stuff.

    I've never had anyone ask to search my backpack, but I haven't been to many different shows, so I don't know what's usual.

    Good luck, and let us know how you do!
    slackaction1 and BuffaloHunter like this.
  12. fretboard

    fretboard Defender of Old Coinage!

    I made some really great TRADES at coin shows, but selling doesn't go to well as most of them dealers buy coins at wholesale prices! That amounts to a minimum of 30 percent lower than retail so if you don't mind making that kind of profit go for it. Much better to TRADE tho! :D
    slackaction1 likes this.
  13. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    I can't speak for you experience with trades, that's great if you've had good results with that.

    But regarding selling at wholesale prices, don't get caught up in the retail price. It's not accessible to you anyway.

    If you have common US material, that is very hard to sell at retail and it takes a long time and a lot of work. The best you can do is eBay and you're paying a lot in fees and in time photographing and listing individual items. Time is money. A dealer may be willing to pay wholesale and buy a large quantity of common material all at once because they can just put it in their storefront and wait for a few years for it all to sell. You're getting that money up front.

    It matters even more when you get into specialized US (varieties) or specialized foreign material, because as a collector you most likely do not have the means available to sell an item like that at a retail price. You don't have access to a broad client base for that material, and you don't have a brick and mortar where people will walk in looking for that material. Even if you consigned it to an auction house (even eBay) you're paying significant fees. So the idea that you can sell a coin at retail yourself is simply not true.

    Let's say you had a specialty coin that could sell for $1k. If you sold it on eBay assuming you found a buyer at $1k which might take 6-12 months you would net about $840 after fees and shipping costs, and you're taking on a lot of risk. A general dealer in that material might offer you $800 cash in hand on the spot. The extra time and risk in selling it on eBay is not worth the $40 difference here.

    Even better if you can find a specialist dealer in that material they might be able to offer you $950 cash on the spot because selling that material is faster and less risky for them. They might even have access to a buyer for the coin at $1200 that you don't know about.

    So don't get caught up on retail pricing. If you're not a dealer you're generally not able to realize those prices anyway. Selling for wholesale and having cash in hand is valuable. That's money you can immediately turn around and put into something else that's making you money.
  14. -jeffB

    -jeffB Greshams LEO Supporter

    This. Dealers have to make money. It's not reasonable to expect their buying and selling prices to be the same.

    Having said that, dealers at shows are competing against each other, and some of them only sell at shows (or online), and don't have the overhead of a brick-and-mortar store with staff and other expenses. I sold my favorite show dealer an AGE, and watched him flip it for a $50 profit. That was something like a 3% margin; I don't begrudge him that in the slightest.
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  15. slackaction1

    slackaction1 Supporter! Supporter

    HEY guys thanks for the input I really appreciate it. I probably wont sell any of my ASE for under 32.00 the raw ones the proofs at least 65 to 70.00 at the least if I sewll at all... thanks again for the replies.
    fretboard and BuffaloHunter like this.
  16. Mountain Man

    Mountain Man Supporter! Supporter

    Ya know, while reading this, to see if there was anything I might add, it dawned on me; I've NEVER been to a coin show! That's right, the closest I've come is a gun show, that had a few coin dealers also set up.

    Well, there's another thing for my Bucket List.
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