Are collectors (and dealers) becoming beholden to the big coin shows, to the detriment of personal t

Longacre

Does anyone think that collectors (and even dealers) are becoming too reliant on the big coin shows for both purchases and sales? I know that is the main purpose of the big shows (i.e., the bourse, by definition, exists to encourage trading of coins). However, are dealers placing too much reliance on the show itself to bring out coins to buy, and are collectors placing too much reliance on the results of the big shows to determine the universe of coins that they will consider buying?

For example, in my case, I have a select number of preferred dealers. After every show, I check their websites, check my emails, and even call to discuss “what they bought at the show”, and to find out what I might be interested in purchasing. Although there is not a large amount of time between one big show and the next, I tend to not check in with that dealer until after the next show, because I know that all newps from the first big show have already been put on the website or discussed directly. So my purchasing rhythm is directly related to the big show schedule. I assume a dealer’s purchasing/selling rhythm works the same way.

Is this good for the markets? If the coin dealers have a “bad show”, does that result in an overstated negative impact on the market?

ColonialCoinUnion

Nah.

TahoeDale

Yes and no.

Yes- there appears to be 10 times as much collector activity at the auctions today(live and internet) as there was 10 years ago. It used to be that the vast majority of bidders at auction were the dealers who attended the shows, who then brought many of their purchases home, marked them up, and sold them to their customer base.

Most collectors didn't have access to catalogs, didn't attend sales. and relied wholly on their dealer to supply the coins for their collections.

Today, many(over half?) of the sales at auction are made directly to collectors. So the activity at large sales and attendance by more collectors is making the auction scene more vibrant.

No- Many collectors still do not partipate directly in auctions, and rely heavily on a respectable dealer, who can grade, knows the market for the series, and represents the collector for a particular coin.

I still remember the Mondays or Tuesdays after a show, where I got a call from my dealer, indicating I should come by and see what he has for me. Excitement galore!

Many still use their favorite dealers in this way, and spend most of their time at their jobs, not on Forum sites and internet auctions.

clw54

This seems to be the case with the higher end collectors. It's not for the more casual collectors. We can attend monthly shows if there are any nearby, visit our local shops, or regularly browse eBay. We don't end up with as good a collection, but the hobby is more steady.

rec78

I started going to big coin shows because at the local small shows i could no longer find the coins that i was interested in purchasing.( I like to see the coins that i want to purchase rather then trust a dealer's listings) Most of the locals at small shows have modern coins and few common seated and bust coins-- I could not find an 1851 or1886 seated half dollar for instance at a local show. SO i started to go to bigger shows to be able to find coins more to my liking. The local shows did not provide many xf seated dimes other than the commonest of dates. All the local shows just had all the run of the mill coins that you could find at any show- Lincoln cents, washington quarters, common proof sets, Morgan dollars (but not many key dates) ,etc., are the norm. The big shows draw the dealers that specialize in coins that i want. Like better date seated and bust coins in grades f-au..So my answer to your question is yes. Bob

RYK

Big coin shows have something for everyone and are an excellent venue for making and reinforcing personal connections with dealers and fellow collectors. I think that they drive the coin collecting cycle. The recent FUN show was a seminal event for my 2007 numismatic year. I would estimate that a majority of my yearly coin budget was spent in and around this FUN show (including auctions and dealer purchases after the show), and had I not attended, that number would be substantially lower.