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First Coin Show

Well I attended my first Coin show yesterday. It was the State (ohio) coin show in Columbus, and I wasnt very impressed. For the most part the prices were either full book or very close and no one seemed interested in talking or being friendly. Even though the crowd was small it seemed like I was being pushed out of the way every 10 seconds. I was hoping to find some commer coins that I have been looking for and perhaps a good deal on a morgan or two. I thought that I would at least be able to view coins and perhaps make some contacts. Instead on nearly every coin I looked at or tried to bargin for I would have spent full book price or just a hair under. The big shock to me was how at every table (nearly) the dealers didnt want to talk or answer questions. The only guy I found who answered questions and seemed like he wanted to be fair was from a local guy. I got a lewis and clark commer proof and an 05 mint set from him for a good price, he didnt lower any prices but his base price was fair enough anyway. All in all if this is how coin shows are then I will just stay at home and use Ebay.


For those of you who are vets is this typical behavior at shows. Is the only point to go to view high dollar hard to find coins that you will be paying full price for? Anyone have some tips about going to shows? There is another show here in April (central states) and right now I am not sure its something I want to attend.
Bottom Feeder collector, Happy collector of Moderns

Comments

  • Don't let this be the standard for you. If when you went out on your first date and the girl had no communication skills and was a horrible kisser would you write off girls for good? Try another one image I would wait for one of the bigger shows.. I am sure it would be a world of difference for you.
    Either write something worth reading or do something worth writing about. -Benjamin Franklin-
  • ShamikaShamika Posts: 18,785 ✭✭✭✭
    I hate to say it, but I usually assume the guy behind the table has no interest in talking coins. I just walk up and window shop.

    On occasion, the seller will make a comment or two and before long the conversation begins to flow. Just don't go assuming you'll make all these new contacts since it usually doesn't happen.


    Buyer and seller of vintage coin boards!


  • << <i>Don't let this be the standard for you. If when you went out on your first date and the girl had no communication skills and was a horrible kisser would you write off girls for good? Try another one image I would wait for one of the bigger shows.. I am sure it would be a world of difference for you. >>




    Do you find that most prices at at book or over at shows? If that is the case I can just shop on Ebay or at my local store and get a better deal. It kind of felt like the only point to go was to view or purchase hard to find (rare and expensive) coins.
    Bottom Feeder collector, Happy collector of Moderns
  • goose3goose3 Posts: 11,471 ✭✭✭
    McD

    you MUST attend the april Central States show if you are close by. I'll be coming down from Richland County.

    The April show will be nothing like the small one you just attended. It will be similar in size to a Baltimore show and should be a "Don't miss" for anyone living within driving distance.
  • I've been to a few local shows and found most dealers more than happy to chat coins. Of course, I don't bother them when they're conducting business.
    can't get enough!!!
  • DaveGDaveG Posts: 3,535
    McDonis,

    I've been going to about 25 shows a year (of all sizes from 20 tables to 500 tables) for 15 years now, so I guess you could say that I'm a show veteran.

    I think it's very important to match your expectations to the show and take the time to develop relationships.

    I wouldn't expect to find rare big dollar coins at a local 20-table show, just as I don't expect to find five-coins-for-a-dollar bargain boxes at a huge show like Baltimore. You need to get to know what sort of coins will be at a particular show, so you know what to expect. If you're only looking for big dollar coins, for example, you'll probably be disappointed at a local show, just as, if you're looking for circ wheaties to fill up your Whitman folder, for example, you're likely to be disappointed at Baltimore.

    Once you get to know the "personality" of a particular show, you'll need to find out which dealer(s) at that show will be most likely to have the best combination of coins and prices. Some dealers will charge higher prices, but have nicer coins; some dealers will charge lower prices, but only occasionally will they have a coin you want.

    Also, the busier a dealer is, the less likely he will be to have the time or inclination to talk to you. Also, some dealers like to talk to collectors and some don't. Do take some time to develop a relationship with a dealer. When I first started going to shows, I didn't talk to the dealers much. Now, I spend much of my time at a coin show talking to the dealers, but it took a few years to develop those relationships.

    As for prices - I don't know what you consider "full book price" to be, but we're in a busy, rising coin market and dealers are more likely to ask for more money for their coins than they will be when we're in a declining market, so the price guides can get out of date (behind the market) fairly quickly. (The same thing happens, in reverse, so to speak, when we're in a declining market. That's one of the advantages of going to shows, you get a good feel for the state of the coin market.)

    When I first started going to my local 80-table show in 1993, you could bowl down the aisles without hitting any collectors and all the dealers were more than happy to give me a great discount. Now, when I go to the same show, I can't get down the aisles because they're so crowded.

    It's true - coin collectors will sometimes bump into me at a coin show, they'll try to elbow me out of the way to get to a dealer first (after all, most dealers have only one example of a particular coin and the early bird gets the worm). After you've done it a few times, you'll get better at navigating the crowds. It's really not all that much different from a flea market, an antique show, or the stock market, in fact.

    You can certainly stay home and use eBay, but then you'll miss out on the opportunities to see many examples of a coin you might want to buy - in person, without worrying about whether the image has been photoshopped or whether the coin might get lost in the mail, etc. You'll also miss out on the opportunities to develop relationships with dealers, one of whom might someday say to you: "You know that 1858 xxx you've been looking for for five years? Well, I just bought a real nice one and I haven't shown it to anyone else, you can have first shot at it."

    Can you tell that I buy all my coins at coin shows? image

    Check out the Southern Gold Society

  • curlycurly Posts: 2,880
    .I went to the Columbus show Saturday and had a pretty good time. Spent about 15 minutes talking IHC with a dealer from Wisconsin. I appreciated the time and bought a couple of circ. Morgans to help make up for the time.

    By all means go to the Central States show. Big time dealers from all over the country will be there. Expect a very large crowd though. I know I'll be there. I hope to meet Rick Snow there.
    Every man is a self made man.

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