Local coin show strategy. Opinions please

veryfine

I sometimes go to local NY coin shows and I'd like some advice with regard to the availability of hard to find material.

Do the dealers who set up at these shows ever display scarce or rare date coins? Is it basically "what you see is what you get" or does it pay to ask for possible "hidden behind the counter" treasures? Is the answer as simple as, "the best material is snapped up right away, so it makes sense to arrive early?"
Is there a game plan that you guys have when hunting for very specific coins for your collections? Do some of you set up transactions with vendors before the show opens?

How about F-MS, better date, pre-1932 coins?
Solid F-AU problem-free Barber coins?
Decent XF or higher Type 2, raised date Standing Liberty quarters?
"With Cents" Liberty nickels in VF or better?
A nicely detailed Liberty Cap cent, Flowing Hair or Bust dollar?

Do my questions prompt a sarcastic "of course you cannot find scarce material at this show; it's called scarce for a reason!"

I ask these questions only so that I can have reasonable expectations in order to maximize my enjoyment at smaller local shows.

TomB

If I wanted to sell something it would be on display.

sinin1

I would imagine that many dealers do not have their entire inventory on display at the show

of course you would probably need to ask and be more specific than ->

How about F-MS, better date, pre-1932 coins?
Solid F-AU problem-free Barber coins?
Decent XF or higher Type 2, raised date Standing Liberty quarters?
"With Cents" Liberty nickels in VF or better?
A nicely detailed Liberty Cap cent, Flowing Hair or Bust dollar?

ricko

For the most part, TomB is correct. I have found, however, that if you are looking for some specific things, it can sometimes pay to ask the dealer if he has any 'not displayed'. I have had some good fortune doing this. By the way.. where are you finding coin shows around NYS?? Cheers, RickO

veryfine

<< <i>If I wanted to sell something it would be on display. >>


Yes, makes sense, but I was wondering if certain dealers are possibly reserving high ticket material for familiar buyers. Perhaps they would rather deal with tried and tested "hassle-free" customers who know what they want and are willing to pay for it.
Just a thought.

Moldnut

Yes, if you dont see it, ask! A few years ago when everyone was looking for an 1809 dime, I asked my source for coins if he had any not on his web site? He asked, "I have grade X-XX, what one do you want?" So it never hurts to ask.

veryfine

<< <i>For the most part, TomB is correct. I have found, however, that if you are looking for some specific things, it can sometimes pay to ask the dealer if he has any 'not displayed'. I have had some good fortune doing this. By the way.. where are you finding coin shows around NYS?? Cheers, RickO >>


How about the Long Island shows?

AnkurJ

Also greatly depends on the type of show. The monthly Parsippany, NJ show often has very nice early material. Most of what Ive seen has been on display, not stashed behind the table. The show has built a reputation to be a good show, so dealers with nice material show up. If a show has a bad rep, or poor sales, dealers with pricier coins may not attend which is why it's hard to find nice early coins.

But with the net and so many dealers having their inventory online, the word "scarce" has been redefined. You can find almost anything with dealers or at auction.

DNADave

My favorite dealer often doesn't bring his best material to our local small show because it's more of a "buying show" for him. I have asked before, and he has brought what I was looking for...most recently, a 1799 Dollar.

In NY, I guess there are no "small" shows.

krueger

Finding Nice coins at a reasonable price takes a very lot of time and hunting work. Do not be discouraged if it takes many years even decades. I use to fear I would never see certain coins then all of a sudden I own three. Everything crossed my path eventually, but you have to be looking. Hunt everywhere , online dealers, at shows throughaquaintance collectors ( a good source), sending for lists snail mail, as some dealers are not online, even looking overseas-- some foreign dealers there have nice US stuff. Putting wanted to buy ads in the trades. Work with your specialist dealer , learn from him, what is rare and what is not . It may be completely different than mintage figures or even price guides. Help him out and hopefully he will call you when he gets nice stuff in. Look at lots of different auction lists. With People who want to and do spend a very lot of money I have seen dealers seek them out when fresh material comes their way. They'll get first crack at that fresh stuff. So what, Don't worry there's still plenty of coins out there. I tell myself there is always another coin to buy that will fade the memory of the one I missed.

Many shows I find nothing I want to buy at the price. What do I do then, as D. Bowers says, go buy a coin book increase your knowledge. Specialize and read specialized books and grading books and take grading courses. The better you eye/judgement the better buys you find. Its been said
"The more you know the less you pay". The satisfaction of a sucessful hunt is very enjoyable.
I have built #1 registry sets with these methods without breaking the bank

Krueger (56 years a collector)

RedTiger

Here is my suggestion: Print out the list in a nice big font, trim the paper to size 4" x 8" or so. If any dealers ask if you are looking for anything in particular, hand them the list. See what happens. You might be overlooking some of the coins, or they might have some more coins in a binder or box. If they are buddies with some of the other dealers (and most are) they might suggest another dealer to you.

DaveG

In my experience, each coin show (not just the local shows) has a "personality" and dealers bring the material they can expect to sell to the "usual crowd."

Generally, though, there's usually a well-established network of dealers that work the local shows. For example, let's say that a small local dealer buys a collection that includes an expensive coin. The local show he goes to tends to attract collectors who buy recent mint products and new issues as well as lower-grade classic coins. He might not put the coin in his case because he intends to offer it to one of the wholesale dealers who comes to the show regularly.

However, if you get there before the wholesale dealers and ask, the dealer might show you the expensive coin, since he'll probably get more money from you than from the wholesale dealer.

If you go to the show regularly and always ask for the same material, the dealers will remember you and might very well bring the material you're looking for.

The basic thing is to establish yourself as a regular customer and known quantity.

veryfine

<< <i>The basic thing is to establish yourself as a regular customer and known quantity. >>


Yes DaveG, I tend to agree with that statement.
There MUST be higher quality material at these shows or it would never attract the more advanced collectors. Getting to know the dealers and alerting them to my needs certainly seems like a win win situation.

veryfine

By the way, there used to be a wonderful, large coin show (the name escapes me) in one of the upper midtown Manhattan hotels, many years ago. All the "big wigs" would attend and then some.
It's long gone, but it was a show that I used to look forward to attending on a regular basis. It was difficult leaving that show empty handed.