Coin show report 3/28/14

piecesofme

Went to a small local show today, more of an antique show that had some coin dealers, all of which I know and they do these antique shows too.
This was the guy with the BEST prices, every other dealer was MORE. Bare that in mind.

G-VF pre '21 Morgans: $27 to cherypick. Would have done $25 if I bought all apx. 40 coins, but there were some really bad ones in the mix, so I passed.

VG-VF Peace Dollars: $25. Would not take less than $25 if I bought 1 or the whole Lot of apx. 30 coins.

AU Peace Dollars: $27. Only had 8 of them and wouldn't take less than $27/coin.

ASE's (mixed dates, no sold date rolls available): $26. Would have done $25.25 if I took all 8 rolls.

1 oz generic silver bars: $23. Nothin special for the premium being asked.

I walked away with nothing today but the $ I walked in with, and a better understanding of the mindset of some dealers not realizing silver is now <$20 and got the old "replacement cost" speech from every one of them. To which I replied, "but Spot is <$20 now, you CAN buy it cheaper now."

rawteam1

I think u used that line on me a couple times...lol

piecesofme

I think u used that line on me a couple times...lol

When you hear it all the time, it's inevitable it's going to be repeated LOL

derryb

Overhead, not much different than ebay or a store front.

Baley

got the old "replacement cost" speech from every one of them. To which I replied, "but Spot is <$20 now, you CAN buy it cheaper now."

to which they naturally responded, "well, go ahead and get yours there, then. why are you looking here?"

piecesofme

to which they naturally responded, "well, go ahead and get yours there, then. why are you looking here?"

no lol, it was more like a deer in the headlights look. I give it right back to them when they think they're trying to pull the wool over me. It's BS, and they know it's all BS. I mean, why bother setting up at a show and incurring that cost, time and effort to do so if they're not willing to make a deal? I guess their time isn't as valuable as mine.
If they can sell it all off eventually one or two coins at a time over a long period of time vs. someone like me taking it all off their hands for a reasonable, current value all at once and they have the cash then...more power to them. They have alot more patience than I'll ever have.

ricko

Some dealers are there to just enjoy the interplay, some are buried in inventory, some will not budge because they believe fixed prices will assure profit. All are wrong to some degree.... Cheers, RickO

cohodk

<< <i>Some dealers are there to just enjoy the interplay, some are buried in inventory, some will not budge because they believe fixed prices will assure profit. All are wrong to some degree.... Cheers, RickO >>



Why is it that a lot of old coin dealers look so poor? I mean, they wear the same clothes as in 1982 and shave as if they had only one razor blade left.

Im not saying they all look like this, but especially at smaller shows. You can almost profile them from a large crowd.

derryb

<< <i>Why is it that a lot of old coin dealers look so poor? I mean, they wear the same clothes as in 1982 and shave as if they had only one razor blade left. >>


I look like that and I am very far from poor. I do try to shave at least once a week.

I do it because I can.

cohodk

I look like that

I never would have guessed.


To the OP---did you see any dollars being exchanged for silver?

Burks

Before I wasn't looked at much by dealers because my age showed too much (late teens, early twenties).

Now I don't get a look because I shave once a month (if that) and wear TMNT/Underdog/Mt. Dew t-shirts and Wal-Mart jeans. It's what I like, it makes me comfortable, and my job allows me to not be clean shaven (perks of working night shift at a hospital!). Sadly, for those dealers, my money will never see their pockets.

When I ran a fish store I served people who walked to buy their fish because they couldn't afford a car to the guys who paid us BIG money to hand deliver fish/coral. They got the same treatment. Money is money!





Anyways. Local flea market had a lot of bullion. Most Morgans that weren't UNC were going $30-$35. UNC common dates were $40+. We're only talking 60-63's here. Nothing worth buying and flipping, or worth paying for bullion. Even ASE were going $30!