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My first show behind a table --- it was a good learning experience.
Geoman
Posts: 2,491 ✭✭✭
In a previous thread I mentioned that I was taking a couple of tables at our local coin show for the first time. While I had "helped" out other dealers a few times behind their tables - this was the first time I have tried it on my own. So I thought I would give you my opinion on the show and what my thoughts were of renting two tables.
The coin show was in Duluth, MN and a smaller (25 dealer tables) local show. It is held once a year and it was the 3rd year of the show. The Twin Ports Coin & Currency Club (TPCCC) hosts the show each fall, but I have been the "bourse chairman" for the past 3 years and pretty much do everything needed for the show. And I found out this past weekend that you can't do both - try to run the show and do all the little things throughout the day, and also be a dealer selling. First off, the room wasn't set up like it was suppose to be with extra tables behind the dealers for stock, etc. So I spent most of the 2 hours of set-up getting the room straightened out and by the time I started my own setup, I wasn't ready for when the show started. It takes a lot longer to set up than I thought.
It was a pretty busy show, considering Duluth is a smaller town, but we estimated 225-240 people attended. I didn't have any "great" coins, more of your common items I suppose, and I didn't sell near what other dealers sold. Maybe it was my talbe location, the very back corner. But with a smaller room, I don't think that mattered. What sold were key date and semit key date coins. I sold a 1885, 1886 and 1912-S Liberty Nickels, several 31-S Lincolns, 1938-D Walker, 1894-O and 1897-O Barber Dimes, and a few better date IHCs. What didn't sell at all were Morgans, common 20th Century silver (silver quarters, halves and dimes) and gold. I had bought up a gold collection with a half dozen $2 1/2, $5, $10 and $20 Indians and Liberty Heads in XF and AU, and didn't sell one. I had some AU $20 Indians priced at $750, which was only $18 over spot price that didn't sell. A lot of people looked at my 1914-D $10 Liberty in AU but didn't bite. I also have the spouse gold coins there and no one even looked that them - even with a nice display and full page flyer advertising it. Interesting enough, statehood quarters, both rolls and singles, sold well.
I talked to a few other dealers and everyone said they did very well in sales and were very happy with the amount they sold. One dealer (by the front door) told me he sold a lot of AU gold pieces. I didn't have a lot of communication with the other dealers. I believe since I was late setting up, they didn't get much of a chance to get over to look. A few stopped by before the show started after they had set up, but saw I wasn't even close to being done and left me alone. A few things I learned was to be more organized, it takes a lot longer to set up than I had thought, and to try and change some of my inventory out from the common items (I have numerous 3-ring binders full of Mercury Dimes, Roosevelt Dimes, BU Jefferson Nickels, BU Lincolns from 1934-current, BU/PR Kennedy's, etc) that didn't sell. Instead, would like to try and carry more of the "better" date coins or semi-key date stuff. I could have sold a half dozen 31-S Lincolns, and sold my two right away. Overall, I was slightly disappointed I did so much less in sales than everyone else, but realize there is a learning curve, and I plan on changing and improving on things for the next show. So it was a good learning experience and I will be doing it again.
The coin show was in Duluth, MN and a smaller (25 dealer tables) local show. It is held once a year and it was the 3rd year of the show. The Twin Ports Coin & Currency Club (TPCCC) hosts the show each fall, but I have been the "bourse chairman" for the past 3 years and pretty much do everything needed for the show. And I found out this past weekend that you can't do both - try to run the show and do all the little things throughout the day, and also be a dealer selling. First off, the room wasn't set up like it was suppose to be with extra tables behind the dealers for stock, etc. So I spent most of the 2 hours of set-up getting the room straightened out and by the time I started my own setup, I wasn't ready for when the show started. It takes a lot longer to set up than I thought.
It was a pretty busy show, considering Duluth is a smaller town, but we estimated 225-240 people attended. I didn't have any "great" coins, more of your common items I suppose, and I didn't sell near what other dealers sold. Maybe it was my talbe location, the very back corner. But with a smaller room, I don't think that mattered. What sold were key date and semit key date coins. I sold a 1885, 1886 and 1912-S Liberty Nickels, several 31-S Lincolns, 1938-D Walker, 1894-O and 1897-O Barber Dimes, and a few better date IHCs. What didn't sell at all were Morgans, common 20th Century silver (silver quarters, halves and dimes) and gold. I had bought up a gold collection with a half dozen $2 1/2, $5, $10 and $20 Indians and Liberty Heads in XF and AU, and didn't sell one. I had some AU $20 Indians priced at $750, which was only $18 over spot price that didn't sell. A lot of people looked at my 1914-D $10 Liberty in AU but didn't bite. I also have the spouse gold coins there and no one even looked that them - even with a nice display and full page flyer advertising it. Interesting enough, statehood quarters, both rolls and singles, sold well.
I talked to a few other dealers and everyone said they did very well in sales and were very happy with the amount they sold. One dealer (by the front door) told me he sold a lot of AU gold pieces. I didn't have a lot of communication with the other dealers. I believe since I was late setting up, they didn't get much of a chance to get over to look. A few stopped by before the show started after they had set up, but saw I wasn't even close to being done and left me alone. A few things I learned was to be more organized, it takes a lot longer to set up than I had thought, and to try and change some of my inventory out from the common items (I have numerous 3-ring binders full of Mercury Dimes, Roosevelt Dimes, BU Jefferson Nickels, BU Lincolns from 1934-current, BU/PR Kennedy's, etc) that didn't sell. Instead, would like to try and carry more of the "better" date coins or semi-key date stuff. I could have sold a half dozen 31-S Lincolns, and sold my two right away. Overall, I was slightly disappointed I did so much less in sales than everyone else, but realize there is a learning curve, and I plan on changing and improving on things for the next show. So it was a good learning experience and I will be doing it again.
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<< <i> I had some AU $20 Indians priced at $750, which was only $18 over spot price that didn't sell. A lot of people looked at my 1914-D $10 Liberty in AU but didn't bite. >>
Got a pic of the $20 Indians and the 1914-D Liberty $10?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Nope, but that is my hope this weekend to take photos of some of the coins and offer them for sale on the B/S/T forum.
Another thing to mention, is I sold all my Proof American Silver Eagles. I guy comes up with a glossy magazine that has a company offering ASE and Proof ASEs for sale. He want to complete a collection of Proof ASEs. He looks at mine, and asked why I am higher than the magazine. I ask him to show me the ad as I can't believe I would be higher than those "rip-off" companies selling coins in non-numismatic magazines. He shows me the prices, and he was looking at the uncirculated silver eagles and not the Proof Silver eagles. He was pretty happy once I explained the difference, and happy that my prices were lower than the ad, so he bought up all my Proof ASE.
<< <i>
<< <i> I had some AU $20 Indians priced at $750, which was only $18 over spot price that didn't sell. A lot of people looked at my 1914-D $10 Liberty in AU but didn't bite. >>
Got a pic of the $20 Indians and the 1914-D Liberty $10?
just completed 3d tour to Iraq and retired after 28+ years in the US Army
~
Thanks for the report.
Sounds like nobody got hurt and some knowledge was gained.
"Inspiration exists, but it has to find you working" Pablo Picasso
U.S. Type Set
At least you tried AND learned in the process.
Best of luck in the future too.
John
WTB: Barber Quarters XF
Really nice summary, geoman.