Prices on slabs at coin shows

I'm probably one of the few dealers that operate like this at a show, I price an item based on what I payed for it and what I think its worth at the time. I do not use the grey sheet......

I never change my prices.....

If I have a coin for 5 years it will be priced exactly the same as the last time you looked at it.

 

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I'm not sure if this was directed at me, but if it was, I can assure you that I do know what market value is for the coins I'm interested in. It does not mean that the dealer knows or cares what the going rate is, however. That is the whole point. Some dealers focus on quick turnover on their inventory where others (likely those that do not do this as their sole means of income) are willing to wait a long period of time with the hope of making a large profit. That's simplistic, I know, not all dealers fall into one category or another, but my point is, I don't want to waste my time on a dealer leans toward the second category.

We are in an era where coin shows are just one avenue to buy coins, and people that are passionate about this hobby have many places to spend their money. I have 20 dealers bookmarked on my browser that have upfront, reasonable prices and great photos of coins. Sure, it's not as nice as looking at a coin in hand, but I'm not going to pay an outrageous premium just to be able to buy on the spot, especially when most dealers have a reasonable return policy. Nor am I going to waste my time trying to convince a dealer that I'd like to buy their coin but the "going rate" is far cheaper than what their price is. I bet there are dozens of posts on CT with sellers complaining of that exact tactic.

 

I pass by all the dealers that dont have prices on the coins.

 

I can't understand why you would think that my comment was directed at you, it was just my take on the thread. If you disagree with my statement, you have every right to do so. My few decades of collecting has led me to my conclusions.

 

I apologize. Perhaps it was just the proximity of your post and mine.

 

I take your point, however, if even 25% of buyers do not enjoy waiting and asking what your price is on every coin, why is this done so frequently? Is it just, as C-B-D noted, to get people to sit down at the table? It might no bother somebody that has 4-5 hours to sit and chat, but many don't have that luxury. So while it's true that the buyer may miss out on a good deal by not requesting a price for each coin, the seller will also miss out on a sale. One that, I might add, would eliminate any auction fees/shipping and handling charges etc. I'm not pointing fingers, nor do I discount the work that goes into making a living on coins, but I've never heard a buyer say, "I'm sure glad that dealer didn't have their prices marked."

*Edit* I'm mostly referencing mid to high range slabbed coins, or coins where the melt value is not a significant factor.

 

if I see duplicate coins of the same grade I always ask for a discount and most dealers will give you a discount just to sell a coin. always ask.

 

I see both sides of the thread...BUT I do like to see prices on coins so I can get a better feel for what I might want to pay for it. I might like the dealer's price or I might think it's too high.

What really irks me is at many of the big shows too many dealers are too busy talking to their "buddies"...other dealers...and ignore me when I stop and want to look at something. They are either too busy chatting away, don't bother to look to see if someone is standing there, or stuffing their face with food and don't want to be bothered. When I stop at a table, if the dealer just ignores me, then I walk away. I would buy from ones that are nice enough to engage me, maybe ask what I am looking for or if I want to see something, just ask them. In my mind, those are friendly, nice dealers who are willing to work with you to get you what you want. Too many of the dealers are rude, don't seem to give a crap about the little guy stopping at his table and just want to deal with their buddies.

 

At first it thought it was just me. But now I see there's other who disagree with the common practice of not having prices available. Ii like the comment that no one ever said I really like un priced coins. Walking by dealers with these coins definitely may be a loss for both parties, but I would think most are overpriced. One dealer at the show said he paid 1800 dollars for the three day show! I couldn't believe it, so he showed me a copy of the check. No wonder dealers may overprice coins. The section they sit at matters, but still, 1800 is terrible. I guess that's the going market rate. This one antique market I sold at was 100 for the day, for everyone. I still thought it was too much, but one rate seems more fair. Whoever rums the long beach show should be ashamed for charging dealers, and therefore their customers too since costs are transferred on to buyers in many cases, excessive fees. That's my opinion

 

Thanks for input. Sorry I missed you. I was in a hurry! Lol

 

I don't know if I'm reading your post right. Are you telling me you collect the different kinds of slabs, not the coins? Do you take the coin out somehow, and keep the plastic trash? You'd be better off with the sample slabs, right?

 

I just open up their cases and start looking at what I want.

 

They don't yell at you or slap your wrist? Lol

 

some get lippy, but if you dont want me looking through your coins dont put them where I can reach them.

 

One dealer that I noticed at a recent show had all his prices prominently marked on stickers attached to the slabs, most about 3 times retail, I appreciated his work in marking his coins because they were so far out of whack that I did not waste my time asking him for prices.

I mean if a coin is greysheeting at 400 and his price marked is 1300, I do not even bother to try negotiating or making an offer. I assume he is a collector and prices his coins accordingly so if they are sold he can purchase two or three more to make up for losing one.

 

I always assumed dealers did this on purpose because it forces the buyer to look at the coin. its harder to say no then.... maybe im wrong but it seems like an obvious business motive.

 

Both

 

Just like so many used car dealers. No price on the window, which forces you to have to talk to a salesperson, which improves the chance of a sale. For me, if a price isn't listed, then I am less likely to browse, and only look for what I truly want/need. It actually keeps me from frivolously spending.

 

I like posted prices when they are lower than I was expecting, otherwise I don't care. I'm typically looking for a short list of coins though, and I know what they are worth. If I see something I like, I ask.

Shows in my area tend to have a lot of the same dealers, so I try to build good relationships with them; stopping to chat a bit or to do some attribution for them. Some I know carry the series I like, and some know what I collect and will bring out pieces for me to look at when I stop by. Ultimately that's what saves the most time, but that wouldn't work so well at a large show.