WHAT ADVICE DO YOU HAVE FOR A FIRST TIME COIN SHOW ATTENDEE?Finally went 3/13 thanks everyone for th
mikebombs
Posts: 224
I hope to attend my first coin show this Sunday in Connecticut. I doubt I will buy any coins because I am rethinking (not re because I never gave it thought before) which direction I am heading (I have no money).
Please bestow your wisdom so that I can make this 5 hour roundtrip, solo, ride most beneficial.
Do’s and Don’ts
Etiquette
Look for/ talk to/ check out/ etc.
What should I expect?
For your advice you get a thank you, and a cookie (I hope you have cookies at home).(A beer would have been more appropriate, I will try not to start threads zooted)
3/14
I don’t want the members that replied to think your time, effort, and advice had been wasted, unappreciated. I did not make it last month but went this Sunday. Again thank you all for taking your time and giving great advice. I would have been a punk if I did not attend.
To explain some things – a reason to go to a show without money would be to see another side of the coin business and market. All I knew before Sunday was eBay, shady telemarketers and this forum. Plus having the opportunity to see countless coins in person is a learning experience in its own. I got to use my 20x and 10x glass on tons of coins instead of squinting at my monitor. All-in-all a good hands on learning experience.
To add some advice to the next first timer
1) Bring a grey sheet – this way you will know who the a$$molies are, right away.
2) Bring some coins than represent you and your collection so that dealers will get a sense of who you are and show you some respect.
3) Bring lots of money!
I did what many of you said not to, but it was the right thing to do. As soon as I walked in, the first table I bought a GSA 1884 cc Morgan solid MS63 for $150. I could have flipped it to the dealers there; most of them were looking for inventory, especially gold.
After a few circles I made a few friends, learned a cool trick about GSA $, and when everyone was packing I got an 1878cc for I am not telling how much, and a 1879s toned for $24.
There was hardly any US gold (I need for my type sets) but Morgan’s up the wazoo.
Some dealers were charging wacko prices; I can’t believe they were able to give quotes with a straight face.
Found two dealers that will guarantee my attendance next month for sure.
Please bestow your wisdom so that I can make this 5 hour roundtrip, solo, ride most beneficial.
Do’s and Don’ts
Etiquette
Look for/ talk to/ check out/ etc.
What should I expect?
For your advice you get a thank you, and a cookie (I hope you have cookies at home).(A beer would have been more appropriate, I will try not to start threads zooted)
3/14
I don’t want the members that replied to think your time, effort, and advice had been wasted, unappreciated. I did not make it last month but went this Sunday. Again thank you all for taking your time and giving great advice. I would have been a punk if I did not attend.
To explain some things – a reason to go to a show without money would be to see another side of the coin business and market. All I knew before Sunday was eBay, shady telemarketers and this forum. Plus having the opportunity to see countless coins in person is a learning experience in its own. I got to use my 20x and 10x glass on tons of coins instead of squinting at my monitor. All-in-all a good hands on learning experience.
To add some advice to the next first timer
1) Bring a grey sheet – this way you will know who the a$$molies are, right away.
2) Bring some coins than represent you and your collection so that dealers will get a sense of who you are and show you some respect.
3) Bring lots of money!
I did what many of you said not to, but it was the right thing to do. As soon as I walked in, the first table I bought a GSA 1884 cc Morgan solid MS63 for $150. I could have flipped it to the dealers there; most of them were looking for inventory, especially gold.
After a few circles I made a few friends, learned a cool trick about GSA $, and when everyone was packing I got an 1878cc for I am not telling how much, and a 1879s toned for $24.
There was hardly any US gold (I need for my type sets) but Morgan’s up the wazoo.
Some dealers were charging wacko prices; I can’t believe they were able to give quotes with a straight face.
Found two dealers that will guarantee my attendance next month for sure.
0
Comments
Ask questions and look at as many coins as you can, especially the types of coins you think you could see yourself buying someday. Say you are interested in early Washington quarters, look for all 1932-Ds you can find for example. Study the coins and learn what a PCGS61 looks like compared to a PCGS62 etc. Then see what the asking prices are for un-slabbed coins. Compare and learn. Learn all you can, you will never know enough when it comes to coins...virtually no one does.
You will notice that not all coins will appear to be of equal quality even though they are the same grade. If you are buying raw Morgan dollars, for example, one dealers BU could be another dealers AU. Grading is not an exact science and you will see the differences.
I don't know what you collect or are thinking about collecting but save the high dollar purchases for after you have more experience. Most coins that are worth more than $100 (?) are usually slabbed. There are usually reasons if they are not: cleaned, whizzed, damaged, etc. Buy a coin that is slabbed if you are going to spend that much money.
If you plan to purchase coins at the show take your checkbook or cash. Not every dealer takes credit cards, probably most of them don't actually.
Most importantly, have fun. Don't let a dealer get you down if he isn't interested in talking or showing you a coin. Just move on, there are plenty of nice dealers who will make it a pleasant experience. Let us know how it goes, good luck.
1. 7-17-81 Warrenton GC Driver 310 yards 7th Hole (Par 4)
2. 5-22-99 Warrenton GC 6 iron 189 yards 10th Hole
3. 7-23-99 Oak Meadow CC 5 iron 180 yards 17th Hole
4. 9-19-99 Country Lake GC 6 iron 164 yards 15th Hole
5. 8-30-09 Country Lake GC Driver 258 yards 17th Hole (Par 4)
Collector of Barber Halves, Commems, MS64FBL Frankies, Full Step Jeffersons & Mint state Washington Quarters
<< <i>I have no money >>
The dealers will all be especially nice to you, if you'll let them know this in advance.
Mike
Take that gas money and travel expense and buy some low grade slabbed thing of the bay of EEEEEEEEEE instead.
WS
Do enjoy yourself.
Do bring your reference material so you can look up coins / prices as you see things of interest.
Do ask a question of two of any dealers you want as long as they are not busy with paying customers.
Do try to figure out which dealers specialize in the sort of material you are interested in.
Do make mental notes as to which dealers are offering questionable material in 3rd World holders or stapled 2x2s with Gem BU written on each one.
Do not waste a dealer's time by asking 346 questions if you have no intention of buying.
Do not ask the dealer to pull all of his coins out of the case for a closer look if you have no intention of buying.
Do not monopolize a dealers case by spread-eagling your arms out and blocking the view of other patrons if you do have an intention of buying.
There are some great people at shows and a lot of dealers happy to chat with anyone and impart a little wisdom. But a coin show is a workplace for a dealer and you should respect that. They are not there primarily to chat and educate attendees - though many will if they have the time - just be respectful of that.
1. Make a list of the coins that you would like to buy.
2. Have a good idea as to the market value of the pieces that you want.
3. Make counteroffers that reasonable based upon the value of the item. If a dealer offers the item to you at a fair price, and you want the item, buy it. Don't play games.
4. If you are too far apart in price, don't make a scene. Just say "Thank you" and mover on.
5. Don't waste a dealer’s time if you are not going to buy anything. If he's not busy he might want to chat with you. But if he's really jammed up, don't demand his attention and don't block his case.
6. You expect to be treated with courtesy, but you should not expect get super bargains on everything. You are one of many potential customers; tomorrow is always another day for a dealer.
Look at every coin you coin. Waste the dealer's time? Sheesh. At local shows, dealers will have their hands in thier pockets hoping that someone will come by and show some interest. Ask questions. Spread it around. Look at all the PCGS and NGC slabs you can as that will be your grading reference. Don't waste time looking at other slabs, as it will just confuse things.
At this point do your research & learn anything and everything. Soak up the grading gradually. The experience will be overwhelming. Don't feel obligated to buy a thing, no matter how much time you spend with a dealer. Their job is to win you as a customer, not the other way around (you get bestowed them as your dealer).
Have fun. Find out what interests you and why.
Five Hour round trip to be beneficial and fun? For a small Connecticut show? I would suggest a show closer to home. If you are in NY/NJ there are closer shows (White Plains, Parsippany). And if you are in Mass maybe the Bay State show. I used to do those 5 hour round trip shows when I was in my late teens and early 20's....the adventures were fun but the coins were almost never worth it. Would have made better sense spending that time learning coins with a mentor rather than burning gas. If we had the internet back then, you can be sure the car would have stayed parked more often.
My suggestion is stay home and use those 5 hours with reference books, the forum archives, dealer sites, etc. Especially so if you have no money.
roadrunner
The Ludlow Brilliant Collection (1938-64)
COME to the next show better prepared....(this will save you a ton of money in the long run!)
buy the coin ...not the plastic...(there is some plastic that are grevious errors...and should be avoided atall costs!
most of all have fun!
Why are you going to waste a whopping five hours driving to a show when you can't acquire anything? Seems to me the time would be better spent polishing your resume, improving your cover letter, and first improving your income stream and/or retiring debt before dabbling in coins. (You're interested in coins? Then send that revised resume and cover letter to coin dealers who need an assistant. There was a post about this just last week.)
These kinds of posts always strike me as odd in the extreme. In a similar situation, the last thing on my to-do list is driving hours and hours to walk around aimlessly.
For your advice you get a thank you, and a cookie (I hope you have cookies at home).
Uh, what?
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.