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Summary of my first experience as a real coin dealer
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<p>[QUOTE="Conder101, post: 557465, member: 66"]Back in the 1950's and 60's a lot of older people who were still holding gold coins that they hadn't turned in in the 30's thought that they were actually illegal to own. So rather than be caught holding "illegal" coins or leaving the problem to their heirs to deal with and probably get in trouble for having them, they used to slip them into rolls of coins or put them in vending machines. I knew a guy who owned a bunch of vending machines back in the late 50's an he said it was no unusual to find half eagles in the machine that had been used as nickels.</p><p><br /></p><p><br /></p><p>Have you ever rented a ballroom at one of those higher end hotels? Figure three to five thousand dollars a day and UP. Even more for the fancier hotels. Plus a charge for the electrical hookup, about a thousand to two thousand bucks. You run a three day show that's $14K in expenses before the doors even open. You have 100 dealers the table fee has to be $140 each just to pay the hall rent. But there are a lot more expenses that have to be covered so the table fee has to be even higher and higher. But you reach a point where the high table cost starts reducing the number of dealers. The admission fee does two things. It helps to cover the nut and helps kep down the table fee, and those willing to pay the fee are usually more serious collectors and are more likly to buy from the dealers. It weeds out some of the tire kickers Unfortunately it also weeds out some of the curious who might start collecting[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 557465, member: 66"]Back in the 1950's and 60's a lot of older people who were still holding gold coins that they hadn't turned in in the 30's thought that they were actually illegal to own. So rather than be caught holding "illegal" coins or leaving the problem to their heirs to deal with and probably get in trouble for having them, they used to slip them into rolls of coins or put them in vending machines. I knew a guy who owned a bunch of vending machines back in the late 50's an he said it was no unusual to find half eagles in the machine that had been used as nickels. Have you ever rented a ballroom at one of those higher end hotels? Figure three to five thousand dollars a day and UP. Even more for the fancier hotels. Plus a charge for the electrical hookup, about a thousand to two thousand bucks. You run a three day show that's $14K in expenses before the doors even open. You have 100 dealers the table fee has to be $140 each just to pay the hall rent. But there are a lot more expenses that have to be covered so the table fee has to be even higher and higher. But you reach a point where the high table cost starts reducing the number of dealers. The admission fee does two things. It helps to cover the nut and helps kep down the table fee, and those willing to pay the fee are usually more serious collectors and are more likly to buy from the dealers. It weeds out some of the tire kickers Unfortunately it also weeds out some of the curious who might start collecting[/QUOTE]
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Summary of my first experience as a real coin dealer
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