Where would one find out what kind of economic impact a large coin show has on the hosting city?

CoinHusker

Does anyone have any idea where one would find out some figures on the economic impact a ANA or Central States show has on the city that hosts it? ie. Number of visitors, number of dealers, sales, etc..

I'm sure some body keeps figures like that, but who?

Thanks

Longacre

I would think the ANA would have figures like that. Otherwise, maybe a state's economic development council might have some information for events that are held in their state. I am not sure of the exact department that you would speak to, but you could probably do some digging on your state's website and try making some calls.

Hugegut

Probably a very difficult number to pin down since the amount of money each visitor needs to spend would vary greatly depending on what city hosted the show. There is a seasonality to hotel rates in a lot of places too so an identical show in the same city can probably vary 2:1 in total impact depending on whether it was held in the "high season" or not. Opportunities to spend money varies a lot between cities too. Imagine how many ways you can spend money in Vegas or New York vs. say St Louis or Des Moines.

CoinHusker

Thanks for the suggestions!

FredWeinberg

You can also contact the Long Beach and
Central States, and FUN Show owners,
as they have those figures in-hand, I believe.

It's an important part of the presentations
made to individual State Legislatures to
help repeal sales tax, nexus issues, etc.

RWB

The Baltimore Convention and Visitor’s Bureau can tell you (if they will disclose the information). Don’t be disappointed at how small the impact is for a major coin show compared to the National Association of Toenail Clipper Manufacturers annual convention. A coin show - even the ANA - is not a destination event and not a real Trade Show as most businesses understand this term. Maybe approaching it as one, would improve attendance and overall impact.

The Washington, DC Board of Trade publishes similar impact assessments for conventions, etc.

TwoSides2aCoin

I think the host city's chamber of commerce might have some information that could be helpful. Most vendors are required to have permits and a lot of pertinent data runs through the Chamber of Commerce.

IGWT

-- "Don’t be disappointed at how small the impact is for a major coins show compared to the National Association of Toenail Clipper Manufacturers." --

True. The "box of twenty" isn't just a way to collect. It's a hotel room shared by collectors to save money.

Michigan

I suspect it would be comparable to most other trade shows with a similar number of dealers and public attendence. A chamber of commerce
could probably provide basic figures at least.

WTCG

You can probably obtain that information from the host city's Convention Bureau or from the show's promoter. I would assume that the numbers the convention bureau give you are more accurate.

RWB

I suspect it would be comparable to most other trade shows with a similar number of dealers and public attendence.

A major coin convention (such as the ANA Annual Convention) and an industry trade or professional show/convention are very different critters. Coin shows are little more than large wholesale/retail venues depending on which side of the transaction you are on. They look and feel more like parking lot flea markets than professional organization conventions. The associated “educational” activities and special interest meetings are so minor, that they barely show up on a percentage attendance basis.

A trade convention is a venue for introducing new and improved processes, equipment, procedures, etc. to users of those goods and services. While sales take place during trade shows (At the Proctologists’ Annual Convention: “I’ll take three of those new self-lubing colonoscopes with dual LED lights and built-in polyp choppers, if you throw in the new video on improving my golf swing?”) Vendors have a chance to meet and impress potential customers, and show off their products. Attendees usually have a wide range of seminars, continuing education and practical demonstration events to attend. Most are also business write-offs. Business people bring their families and generally stay for several days. The events are multi-dimensional with competition from vendors for participants time and attention, as well as money.

Compare that to the ANA Convention. The only new products and services come from the book publishers and world mints. There’s nothing about all the economic pieces relating to mints, coinage, minting, engraving, etc. No one sponsors seminars on improving your die engraving, annealing theory, introduction to quad press repair, storing your coin in the latest environmentally isolated slab, and on and on…. Likewise, there’s not much that could really be called competition. One Morgan dollar looks and behaves much like another. Dates and mintmarks and condition might change but nobody is introducing a “better” Morgan dollar. “ACME Coin sells the best Morgan dollars,” is everybody’s hue and cry. Because there is no fundamental engagement of the majority of collectors, very few bring the family. (Look at the miniscule number of auxiliary events associated with the ANA Convention – then compare to any other National Association event.)

Some interesting suggestions have been offered by forum members and to the ANA on how to make coin shows better. The ANA President’s editorial in the new Numismatist indicates that no one is listening out in Colorado – maybe it’s ‘cause the Rockies lost the World Series, or maybe they are distracted with other matters.

carl

As already noted any results you obtain would be purely a guess with very little to no foundation. Of course that depends on the city, size of show, how many visitors, dealers, where they stay if at all, where they eat and on and on. For an example there is a large coin show at a place called the Rosemont Convention Center in Illinois occationally and usually for several days. Hotels, gas stations, restaurants, motels, etc all right there in the same area. So many different shows there a large coin show is just another show. Only the buisnesses in the area gain. The rest of Rosemont doesn't even know there is a show going on. No one else in the area will receive any monitary gains of any kind. Also, towns next door even have less impact from that show. I'm a few miles away and if they didn't send me a notice, I'd never know the show was there. Coutryside, Illinois has a fairly large coin show the second Sunday of every Month. Sometimes 1 day, 2 days or more. Most dealers drive there, bring food, leave there, so Countryside would have little to no bennefit from those shows. Again, towns next door even less gains. Other towns in Illinois also has numerous smaller coin shows and again I doubt that town has any monitary gains of any kind. Starting with Chicago there is very little separation from any of these towns building wise but Chicago gains nothing from such shows.
Of course here we have numerous speed traps so many out of towners going to a coin show will get nailed with a speeding ticket. That helps the town but only the people that end up pocketing that money.
I doubt Chicago has any coin shows. To many people would be robbed on the way there or going home.
And if the criminals don't get you the crooks called politicians will with taxes.
Again, I doubt you would ever find out statistics such as an economic impact on a town, city of village from a coin show. Way to many variables.

CoinHusker

<< <i>-- "Don’t be disappointed at how small the impact is for a major coins show compared to the National Association of Toenail Clipper Manufacturers." --

True. The "box of twenty" isn't just a way to collect. It's a hotel room shared by collectors to save money. >>