Options
Questions for coin show veterans
ER
Posts: 7,345 ✭
I have never been to a coin show before, but plan to eventually attend one of the national shows, like FUN.
1. Do dealers display their coins with price tags on them, like at gun shows?
2. Is there a difference between cash prices and credit card prices, like at gun shows?
3. In general, are dealers flexible on their prices?
4. How do you go about participating in a live auction at the show?
5. I 'm sure there is a door fee. But once inside, are there any other fees?
Any comments would be appreciated. Thanks.
1. Do dealers display their coins with price tags on them, like at gun shows?
2. Is there a difference between cash prices and credit card prices, like at gun shows?
3. In general, are dealers flexible on their prices?
4. How do you go about participating in a live auction at the show?
5. I 'm sure there is a door fee. But once inside, are there any other fees?
Any comments would be appreciated. Thanks.
0
Comments
most do not so you will need to know prices or at least have price guides with you
2. Is there a difference between cash prices and credit card prices, like at gun shows?
most dealers do not take cards. some will take checks
3. In general, are dealers flexible on their prices?
most are somewhat flexible
4. How do you go about participating in a live auction at the show?
register when you arrive. find the auction companys table.
5. I 'm sure there is a door fee. But once inside, are there any other fees?
large fees for drinks and food, small fees for my coins
2. It's rare to find a coin dealer who takes credit cards at shows.
3. Most have some flexibility, though don't spend much time bargaining on $10 coins
4. Fill out the paperwork to sign up. They usually want a few references, so if you don't have any, you may want to register prior to the auction. Call them and ask for details.
5. Most shows (east coast, anyway) don't charge an entry fee. You do have to pay for your own food and coins.
When I got back into collecting, my first show was an ANA show. I was totally overwhelmed! You may want to start with a smaller local show, just to get your bearings and the feel for the shows.
Just curious. Is there a reason they do not take cards?
<< <i>Thanks.
Just curious. Is there a reason they do not take cards? >>
Hard to get the card systems to work at shows and the 3% the CC's charge Dealers. I think in the next year you will see more wireless card systems on the floor. They are getting cheaper.
TBT
1. Cost.
2. Cumbersome to set up the access.
And regarding checks, it's good to have other dealers as references if you want to write a big one. Cash is still preferable, though, if the dealer doesn't know you.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
It used to amaze me how many people were AGHAST that I required cash for bullion purchases.
Then when I reminded them that they were going to LEAVE the store with the SAME THING AS cash, they usually understood.
If you're going to a coin show, bring CASH!
My take on it - no paper trail, no income to declare.
I believe some dealers size you up before quoting a price. One way they do that is to watch your technique when examining a coin, the terminology you use, etc. It reminds me of when I was in a store in Nairobi, and an obviously wealthy American couple bought a wooden carving for $200. A few minutes later, my niece who lived in Nairobi at the time asked (in Swahili) how much an identical item was, and was quoted $15 (in Swahili).
You can dicker on price, but don't argue the grade. It accomplishes nothing.
To increase the dealer's comfort level:
Don't put your hands below the table if you are examining coins. (Thanks to a fellow board member for pointing that one out to me not long ago!)
If you are going to pass on a coin you are looking at, make sure you hand it back to the dealer. Don't set it down and walk away.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Don't wait for a big show. Hit some little ones. They're a blast! It's a lot like shopping for a used car, so bring your hip waders.
Russ, NCNE
<< <i>You can dicker on price, but don't argue the grade. It accomplishes nothing. >>
It will accomplish one thing. . . it will really tick-off the dealer. And you really don't want to do that to someone you are trying to buy from.
Experience the World through Numismatics...it's more than you can imagine.
Click here for their web site.
Russ, NCNE
Camelot
Thanks, guys.
Russ, NCNE
<< <i>I have never been to a coin show before, but plan to eventually attend one of the national shows, like FUN. >>
Like the others, I recommend checking out a local show. There are several in Houston every year. If you don't know about them, ask your local dealer or join a local club. The bigger regional shows like TNA or huge national shows like FUN will overwhelm you. Joining a local club will expand your education, allow you to make friends with whom you can share the excitement of your latest acquisition, find out who the good dealers are (and who to stay away from), etc.
<< <i>1. Do dealers display their coins with price tags on them, like at gun shows? >>
Some do, more do not.
<< <i>2. Is there a difference between cash prices and credit card prices, like at gun shows? >>
I don't know about gun shows, but another reason that dealers don't like credit cards is that they are a popular target for credit card thieves. The coins they make off with can be more easily disposed of and the dealer is often the stuckee. As for checks, dealers who know you are more likely to take one. Knowing the bourse chairman or a well-known dealer who will vouch for you also works. If there's an ATM machine around, many will encourage you to use it. Cash is always best.
<< <i>3. In general, are dealers flexible on their prices? >>
The more business you do with a dealer, the more likely he is to cut you a better deal. I've found that you can usually get 10-15% off retail list on multi-coin purchases ... I don't know about the $$$ coins, but there I've always asked, "What's the best you can do?" As others have stated, you can haggle about anything, but DON'T question the dealer's grade. Offer the price you think it's worth. If there's no meeting of the minds on a mutually agreeable price, just let the dealer know it's not a coin meant to go home with you, thank him or her for his time, and walk on to check out the wares at another table.
<< <i>4. How do you go about participating in a live auction at the show? >>
Pre-registration is best. Most often, they expect payment then and there (and not by check or credit card).
<< <i>5. I 'm sure there is a door fee. But once inside, are there any other fees? >>
This varies by show. Smaller shows are more likely to not have an admission fee. TNA charges one -- unless you're a TNA member, in which case admission is free. The bigger the show, the higher the overhead to the sponsor.
Come on over ... to The Dark Side!
Re pricing, a lot depends on the item you are buying. If the item can be moved fairly easily & he bought it 'right,' don't expect a discount. OTOH, if it's an expensive obscure type coin that he's had for six months, you can get a substantial discount. Also, dealers will be flexible on the pricing of problem coins, so you need to know how to grade what you want to buy.
I always try & have another set of eyes look at any perspective purchase.
A dealer who knows me well who also accepts credit cards will give me a 3% price break if I pay in cash or with a check. Cash is best when the dealer doesn't know you well (in fact, it may be the only way to buy a coin from him).
If I look at a coin & don't want it, I'll say something like, "it just doesn't have my name on it," or "I'll pass, thank you," and hand it back to the dealer.
"Seu cabra da peste,
"Sou Mangueira......."