@edwardjulio said:
A dealer will allow me to place some coins at his table for sale to collectors at an upcoming show. Is this arrangement improper or poor etiquette?
Not in my opinion.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Have a good idea as to what you want for your coins, I learned this years ago, many will want to know what your looking for , before they quote a price. I have found this more at larger and national shows than the small local ones.
I've never had a problem selling coins at a major show, assuming you have good material that relates to what they sell. Just do your homework beforehand, be ready to provide comp info and know your sales price. That price should allow some room for them to earn a profit that relates to the current market at the time. It's then pass or play for the dealer.
Seated Half Society member #38 "Got a flaming heart, can't get my fill"
I’ll usually ask the dealer if he has any interest in what I’m selling, before I clutter up his table with boxes of slabs. I’ll say something like ‘Any interest in buying PCGS XF Barber halves and quarters?’. If he’s interested, I’ll drag them out. I’ve found that if he’s not interested, he’ll generally point me to a dealer or two who will be very interested.
Dave
Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
It's poor etiquette to make or solicit for offers to sell coins to non-dealers at a coin show. The dealers who are there have paid money for the opportunity to have customers come up to them and sell them coins. "Vest pocket dealers" do attend shows, but they are only supposed to be there to purchase stock, or to sell unwanted stock to the table-holding dealers present. They aren't supposed to be selling direct to collectors.
Even if that particular dealer turned you down, they presumably weren't the only coin dealer at the show.
The "correct etiquette" when a dealer at a coin show rejects your coin because it's not their specialisation, would be to ask that dealer if there were any other dealers at the show they could recommend who might be interested. Most of these guys know each other, and know which dealers they normally pass such coins on to. You don't have to go with their recommendation, of course, but it's a start.
Or failing, that, try a neutral third party. There's usually an information booth of some kind, and somebody at the booth ought to know which dealers are known for certain specialisations. Some of the bigger shows are even arranged by dealer specialisation, specifically to make it easier for people like you to find the people you need to find: "all the ancients guys are over there in that corner".
And failing that, you're meant to do your own legwork at these shows. Walk the floor and look for dealers actually selling ancients. They're likely to be the best ones to ask about your coin.
Finally, let's put the boot on the other foot. Suppose you're a collector at a coin show, wanting to buy an expensive Julius Caesar coin, and some random guy who's clearly not one of the dealers attending the show (no ID badge, etc) walks up to you and offers to sell you one. If they asked me for advice in that situation, I would strongly recommend, to that collector, to run away very fast - it's highly likely a coin offered in such circumstances is either fake or stolen, and the buyer has no redress if that turns out to be true.
@edwardjulio said:
A dealer will allow me to place some coins at his table for sale to collectors at an upcoming show. Is this arrangement improper or poor etiquette?
The dealer is effectively letting you sell your own coins at their table, presumably because the dealer doesn't need or want all the space allocated to them? That would be odd, since most of these shows charge dealers by the amount of table space they want, so most dealers don't purchase space they won't be using. I doubt a dealer would let a random Joe Public do this, so presumably you are friends with the dealer in question and they're happy to do this for you. In effect, the dealer is taking your coins on commission.
If it's "bad etiquette", it's not you that's to blame, it's the dealer, for giving away free table space that other dealers might think you really should be paying for yourself. There may even be paperwork the dealer has to sign on coming to the show, that explicitly prohibits table sharing. unless prior arrangements are made with the show organizer.
Waste no more time arguing what a good man should be. Be one. Roman emperor Marcus Aurelius, "Meditations"
It sounds like a simple misunderstanding on your part and it sounds like the dealer handled it reasonably well. I see it as a minor breach of etiquette - not something that will tarnish your reputation. No biggie. Live and learn and have fun at shows!
Along the same lines, in a brick and mortar store, it's bad form to interject yourself into the conversation between a potential seller and the owner of the shop. Throwing out a competing offer or telling the potential seller that he's being taken is another way to be quickly shown the door.
@Sapyx said: @edwardjulio said:
A dealer will allow me to place some coins at his table for sale to collectors at an upcoming show. Is this arrangement improper or poor etiquette?
The dealer is effectively letting you sell your own coins at their table, presumably because the dealer doesn't need or want all the space allocated to them? That would be odd, since most of these shows charge dealers by the amount of table space they want, so most dealers don't purchase space they won't be using. I doubt a dealer would let a random Joe Public do this, so presumably you are friends with the dealer in question and they're happy to do this for you. In effect, the dealer is taking your coins on commission.
If it's "bad etiquette", it's not you that's to blame, it's the dealer, for giving away free table space that other dealers might think you really should be paying for yourself. There may even be paperwork the dealer has to sign on coming to the show, that explicitly prohibits table sharing. unless prior arrangements are made with the show organizer.
-I have had many five figure transactions with this dealer. He had another dealer for the space, but the individual "backed out". I will most likely pay him something for the use of the space.
End Systemic Elitism - It Takes All Of Us
ANA LM
LSCC
EAC
FUN
Know what a fair price to receive for your coins. I walk up to a dealer table and if they are selling my type of coins then i will ask if they are buying. After they buy, I purchase some coins i was eyeballing while we were negotiating. Usually works well and I've had dealers happy to see me at another show because they wanted to buy more of my coins.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
@edwardjulio said:
A dealer will allow me to place some coins at his table for sale to collectors at an upcoming show. Is this arrangement improper or poor etiquette?
My advice at a coin show is the same as anything else in life….Be polite and courteous and you will find the people who will help you sell your coins at a fair price, or point you in the right direction.
Comments
Not in my opinion.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Thank you Mark.
End Systemic Elitism - It Takes All Of Us
ANA LM
LSCC
EAC
FUN
Have a good idea as to what you want for your coins, I learned this years ago, many will want to know what your looking for , before they quote a price. I have found this more at larger and national shows than the small local ones.
Bring your own lube.
I've never had a problem selling coins at a major show, assuming you have good material that relates to what they sell. Just do your homework beforehand, be ready to provide comp info and know your sales price. That price should allow some room for them to earn a profit that relates to the current market at the time. It's then pass or play for the dealer.
"Got a flaming heart, can't get my fill"
Significant hilarity in some of those older posts.
Lots of people sell coins at shows. If you're having problems doing so yourself, perhaps your expectations are not in line with reality?
Just a thought.
I’ll usually ask the dealer if he has any interest in what I’m selling, before I clutter up his table with boxes of slabs. I’ll say something like ‘Any interest in buying PCGS XF Barber halves and quarters?’. If he’s interested, I’ll drag them out. I’ve found that if he’s not interested, he’ll generally point me to a dealer or two who will be very interested.
Dave
It's poor etiquette to make or solicit for offers to sell coins to non-dealers at a coin show. The dealers who are there have paid money for the opportunity to have customers come up to them and sell them coins. "Vest pocket dealers" do attend shows, but they are only supposed to be there to purchase stock, or to sell unwanted stock to the table-holding dealers present. They aren't supposed to be selling direct to collectors.
Even if that particular dealer turned you down, they presumably weren't the only coin dealer at the show.
The "correct etiquette" when a dealer at a coin show rejects your coin because it's not their specialisation, would be to ask that dealer if there were any other dealers at the show they could recommend who might be interested. Most of these guys know each other, and know which dealers they normally pass such coins on to. You don't have to go with their recommendation, of course, but it's a start.
Or failing, that, try a neutral third party. There's usually an information booth of some kind, and somebody at the booth ought to know which dealers are known for certain specialisations. Some of the bigger shows are even arranged by dealer specialisation, specifically to make it easier for people like you to find the people you need to find: "all the ancients guys are over there in that corner".
And failing that, you're meant to do your own legwork at these shows. Walk the floor and look for dealers actually selling ancients. They're likely to be the best ones to ask about your coin.
Finally, let's put the boot on the other foot. Suppose you're a collector at a coin show, wanting to buy an expensive Julius Caesar coin, and some random guy who's clearly not one of the dealers attending the show (no ID badge, etc) walks up to you and offers to sell you one. If they asked me for advice in that situation, I would strongly recommend, to that collector, to run away very fast - it's highly likely a coin offered in such circumstances is either fake or stolen, and the buyer has no redress if that turns out to be true.
The dealer is effectively letting you sell your own coins at their table, presumably because the dealer doesn't need or want all the space allocated to them? That would be odd, since most of these shows charge dealers by the amount of table space they want, so most dealers don't purchase space they won't be using. I doubt a dealer would let a random Joe Public do this, so presumably you are friends with the dealer in question and they're happy to do this for you. In effect, the dealer is taking your coins on commission.
If it's "bad etiquette", it's not you that's to blame, it's the dealer, for giving away free table space that other dealers might think you really should be paying for yourself. There may even be paperwork the dealer has to sign on coming to the show, that explicitly prohibits table sharing. unless prior arrangements are made with the show organizer.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded one DPOTD.
Old thread, but good stuff.
@JMS1223,
It sounds like a simple misunderstanding on your part and it sounds like the dealer handled it reasonably well. I see it as a minor breach of etiquette - not something that will tarnish your reputation. No biggie. Live and learn and have fun at shows!
Along the same lines, in a brick and mortar store, it's bad form to interject yourself into the conversation between a potential seller and the owner of the shop. Throwing out a competing offer or telling the potential seller that he's being taken is another way to be quickly shown the door.
@Sapyx said:
@edwardjulio said:
A dealer will allow me to place some coins at his table for sale to collectors at an upcoming show. Is this arrangement improper or poor etiquette?
The dealer is effectively letting you sell your own coins at their table, presumably because the dealer doesn't need or want all the space allocated to them? That would be odd, since most of these shows charge dealers by the amount of table space they want, so most dealers don't purchase space they won't be using. I doubt a dealer would let a random Joe Public do this, so presumably you are friends with the dealer in question and they're happy to do this for you. In effect, the dealer is taking your coins on commission.
If it's "bad etiquette", it's not you that's to blame, it's the dealer, for giving away free table space that other dealers might think you really should be paying for yourself. There may even be paperwork the dealer has to sign on coming to the show, that explicitly prohibits table sharing. unless prior arrangements are made with the show organizer.
-I have had many five figure transactions with this dealer. He had another dealer for the space, but the individual "backed out". I will most likely pay him something for the use of the space.
End Systemic Elitism - It Takes All Of Us
ANA LM
LSCC
EAC
FUN
Know what a fair price to receive for your coins. I walk up to a dealer table and if they are selling my type of coins then i will ask if they are buying. After they buy, I purchase some coins i was eyeballing while we were negotiating. Usually works well and I've had dealers happy to see me at another show because they wanted to buy more of my coins.
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
Neither, as long as you have an agreement.
My advice at a coin show is the same as anything else in life….Be polite and courteous and you will find the people who will help you sell your coins at a fair price, or point you in the right direction.
Good luck and enjoy the show!
You clearly have sizable vest pockets