How do you all do it?

mrpaseo

How do you go somewhere (Anywhere for that matter) and find a coin and know how much is to much and what your willing to pay for it?

Do you take notes? Take a chance? Research before you go???

I've been to only one coin show and purchased only one coin for a few bucks because I was ovewhelmed and thought everyone was out to get me...lol. I'm no haggler either so that probably didn't help.

Maybe I should practice with the Iraqi market...

JRocco

I would go to a few shows and just look. Get a feel for the hustle and bustle which can be overwhelming. When you do get a feel for the bourse floor, I would narrow my search for something specific. For example, if you are a Kennedy collector- stay home and just have a beer---ONLY KIDDING GUYS --- say you are looking at Morgan's - pick a couple of years that would fit into your collection- look up past ebay sales, or on-line auction sales to get a feel for what the approximate rate is for a grading range, then go to the show and LOOK to see if something strikes your eye and falls into that price average.
DO NOT buy a coin in your range that is really really cheap because there is probably a reason it is cheap and at your stage I would buy something in plastic to help out a little.
And don't forget to have fun---shows are great.

CoinResource

Wait a minute, 9800 posts and you've only been to one coin show? ;-)

Seriously, it is somewhat easy to be "taken" at a show. Everyone gets burned on occasion. Start by GOING to more shows. Look, don't spend, and talk to the dealers. Find the ones that will help you, are nice, and appear knowledgeable. Develop trust.

AND, learn how to grade. Carry a greysheet, read about coins and values and the subleties of each series.

Have a list of what you want to buy. Be aware of market value for that list. USE Heritage's auction archives, eBay's closed auctions, and greysheet as your guide.

Read more. Buy the PCGS grading book, take a class from the ANA, buy the grading posters, buy Q David Bowers new book on coins or others. Learn what a dipped coin looks like, learn what a cleaned coin looks like.

and finally HAVE FUN.

Cameonut

I take several references:
1) a greysheet - that way you are on a level playing field with most dealers.
2) the Trends insert from Coin World - don't laugh - sometimes it has come in handy. Its also fun to watch dealers salivate when you take it out - they think you might actually pay full Trends value!
3) for my area of interest, I bring a spreadsheet with all the coins/grades/values. There are lots of coins so I use the small fonts on Excel to cram them all on two sheets of paper. Small font size is no problem as you always have your loupe with you and it keeps the dealer from being able to read your reference. I also mark which coins I already own so I can easily determine if a new coin is an upgrade or a duplicate.

Good luck and above all else, have fun!

mrpaseo

<< <i>Wait a minute, 9800 posts and you've only been to one coin show? ;-)

Seriously, it is somewhat easy to be "taken" at a show. Everyone gets burned on occasion. Start by GOING to more shows. Look, don't spend, and talk to the dealers. Find the ones that will help you, are nice, and appear knowledgeable. Develop trust.

AND, learn how to grade. Carry a greysheet, read about coins and values and the subleties of each series.

Have a list of what you want to buy. Be aware of market value for that list. USE Heritage's auction archives, eBay's closed auctions, and greysheet as your guide.

Read more. Buy the PCGS grading book, take a class from the ANA, buy the grading posters, buy Q David Bowers new book on coins or others. Learn what a dipped coin looks like, learn what a cleaned coin looks like.

and finally HAVE FUN. >>



Yes, 9800 posts and only one coin show Sad isn't it? I spend alot of time on the open forum drivel. The Army keeps me away from the shows, I drove to one and when I finally found it it was in the basement of a thrift store, there were two sellers and they had way over priced coins and tried to sell me junk... I just looked at him and said, "No thank you" and walked out... Bad experiance number one, thankfully it did not cost me anything except a few hours of my time and a few bucks in fuel.

The coin show I managed to go to was at a recreational center of sorts (Maybe a school) and had about 50 tables, I was almost in heaven Then there was so much I wanted to buy everything... Good thing I purchased only the one coin I brought my 9 year old too, she had fun, so it was totally worth the trip.

CoinResource

Try to go to a show with at least 40+ dealers... AND thank you for SERVING our country!!!!!

roadrunner

It starts one coin at a time and asking a price. Or seeing what it sells for, and then comparing that to a listed sheet. Do that as many times as you can over many years and you start to build a personal data base in your head. While you can do something similar in say a 6 month period, you need to look at thousands of coins in that period. Attending a major auction and viewing all the slabbed lots is very educational. Many coins share the same grading traits as well. What you learn on a $20 Lib will also help you grade a Morgan dollar to some extent...they are not totally independent. You also will take numerous losses or hits along the way, esp if you buy raw. Minimize your downside and maximize your upside chances, then strike.

roadrunner

curly

<< <i> AND thank you for SERVING our country!!!!! >>



amen to that brother

jdsinva

Good morning, MrPaseo! I don't see you on the coin forum much, there are helpful folks here too!

I know it might be hard but attending a few more shows would probably help you get the feel for things. I've found show coin prices can be a bit higher than what I call normal retail but there are usually some dealers there that aren't looking to gouge every transaction.

Good Luck and Happy Hunting!

ms70

I print out CoinWorld Values for the coins I'm interested in and take it with me. Before leaving I take a look at the PCGS guide to see if there are any major price discrepancies (which
often there are). If so I note it.

In the end I usually wind up buying something I didn't set out to get & didn't have the price sheet for.

BAJJERFAN

<< AND thank you for SERVING our country!!!!! >>

ABSOLUTELY!! Thanks Ray.

TwoSides2aCoin

Salutations !
I have a Red Book for starters.
I have a PCGS price guide as a back up.
I subscribe to Numismatic News
I buy from the US Mint ( talk about overpriced stuff)
I trade with friends or other numismatists.


Yes, I research my purchase (unless it's late at night and I am on ebay and get a wild hair as I nearly fall asleep at the keyboard while pulling the trigger... only to wake up with buyer's remorse.)
Coin shops are not always the friendliest place , so take donuts. Dealers can't resist sweet treats, usually. And most would rather chat a little bit to see what you are looking for.

Oh, and Mr Paseo... you have friends like on here .... who donate and stuff cuz they honor your loyalty and commitment to your family and country

Just wear your uniform into the coin shops .... we are suckers for guys who lay their life on the line for us .



P.S. Did you ever get that "Merry Christmas Doll" video ?

pharmer

<< <i>

<< <i> AND thank you for SERVING our country!!!!! >>



amen to that brother >>




Same here. Thanks, buddy.

majorbigtime

I try to buy coins I like near Graysheet

TheRaven

Yesterday at the CSNS Columbus show, I asked on her and looked at Heritage to get a feel for what a $2.50 Lib PCGS MS-62 should sell for so I had some idea.....

You have to have done some research before going to a show to know what you want, a price idea and how it should look in the grade you are looking for.....

mrpaseo

Thanks guys, I appriciate your support, even more than I know how to express.

V/R,
Ray

CoastGuard

I have a nine year old too. Next time you can, take him/her. Buy a small coin under $10.00 the child will pick out. Most dealers will make a great deal for a young collector. I try to have uncirculated cents in a 2 X 2 handy so when a kid goes by I ask them what year they were born. Yours would get 1997 for free.

You must have a short written list and the top dollar you will give for those coins written next to it. No haggle needed. Just show the dealer your list and ask for assistance. The good ones will assist you.

Coindexter

The best numismatic education I've gotten came from these boards. The best numismatic wisdom (knowlege+experience) is from parking myself in front of a whole table of double row 2x2 boxes and looking at every common, low grade and low value coin in a dealer's inventory.

I talked to the dealer first and told him that I needed to look at as many coins as possible. I explained that my objective was to learn to identify original surfaces. I chatted with him for a minute or two here and there when he didn't have many customers over the next couple of hours and when I was finished I made sure to buy some coins from him. The coins didn't matter at all, I considered the money tuition.

Tootawl

I make a want list long before I go to a coin show and check Ebay, Teletrade, Heritage, Coin World Trends web site. etc to get an idea of what the coins I want are worth.

Barndog

Seems trite to say this, but the key to finding a coin, in my opinion, is to know what you are looking for. Few can be expert in multiple areas of numismatics. None are experts in all areas. So focus on one or two coins or areas before you go looking -- you will have better results that way.

SafeCracker

I've always said there are alot of good people on this forum, and this proves it. As I live on an Island, there are never any shows here to attend. When I can, I plan my education to be in Miami somewhere, sometime. I've never been to a coin show at all. Maybe I can hit one this summer. Hope so.

Roger