How much money can a collector save by going to coin shows?

bosco5041 · July 22, 2013 5:44AM

compared to buying from a website (internet)? It seems to me that buying outright at shows saves you about 5% to 15% or something like that. What are the forum members thoughts on this.

MidLifeCrisis · July 22, 2013 5:48AM

I think it can go either way. You can save money at a coin show, or you can pay more than you might otherwise would, depending on the coin and the specific situation.

For example, larger coin shows provide a lot of customers in one place so immediate demand for a particular coin may be quite a bit higher than it would normally be. An experienced and savvy dealer may recognize this and raise the price for certain coins.

SmEagle1795 · July 22, 2013 5:48AM

I hate to give a non-answer, but it greatly depends. I've seen some huge swings from certain dealers who wanted to move material at the show (a 40% discount from their website on a five-figure coin). The more likely figures are a discount of (-10%) to 20% depending on the type of material and how much their time/effort/shipping would eat into their profits if they sold it online. It's also much easier to trade at a show than over the internet, so you have more options available to you.

Unknown · July 22, 2013 5:50AM

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keyman64 · July 22, 2013 5:50AM

MLC has it right. It can easily go either way.

Boosibri · July 22, 2013 5:51AM

Depends on what you are looking for. For what I collect, rare date gold, I would probably not get a shot at most of the material at the show. It would mostly go through dealer to dealer transactions, or collector to dealer sales and end up on the website afterwards.

I go often to train my eye by seeing tons of coins, meet the dealers who I regularly buy from to establish a closer relationship, and maybe get a shot at buying a coin or two.

If you are buying Mercury dimes or cherrypicking varieties, it may be a different experience.

crypto79 · July 22, 2013 5:56AM

None, in fact they are quite costly. If savings are paramount, I would suggest never surrounding yourself with a great selection of stuff that will be tempting for you to buy.

etexmike · July 22, 2013 6:20AM

<< I've found that, for the coins I'm interested in, they're usually more expensive at shows. >>

Ain't it the truth.

Mike

BryceM · July 22, 2013 6:24AM

There is not a simple answer to your seemingly simple question.

Auction pricess at highly publicized shows will often be higher when compared to similar material at smaller auctions. Deals on the bourse can be found. It's also simple to find vastly overpriced items. Dealer's moods can swing from buying frenzy to sell-at-any-price. The only way to do OK is to be able to recongnize quality when you see it and be familiar with the market for the coins you're interested in.

Edited to fix brain-dead post.

TwoSides2aCoin · July 22, 2013 6:31AM

I try to save money spending it, then realize I have less for more, more or less.

You know what I mean, men ? Ever hear the lady say : "Oh there is a sale, I can save 70%" Then you look at the credit card statement and think

LochNESS · July 22, 2013 6:38AM

At shows, the dealers who've known me for years (from whom I've been buying for years) will give me a discount. It helps move their inventory and such. Although I usually go the first day, so the dealers who don't know me aren't inclined to negotiate much. Unless I buy multiple items in which case 10% or so feels about right.

On day three of any show, I'd expect 10-15% even for buying just one item.

However ... online ... if you're the only one bidding on a lot ... could mean much more savings. Really a case-by-case scenario. Overall I bet the answer is "yes" because at shows there's no shipping cost (and in GA there's no sales tax on coins)

ricko · July 22, 2013 6:48AM

I have found bargains in coin shops and at coin shows.... never frequented shows exclusively for bargains - more for the great variety of material as compared to a local shop. Cheers, RickO

giantsfan20 · July 22, 2013 6:56AM

Unless you TRUST and know the online dealer and have good photos buying through the mail is a shot in the dark and harder to bargain for the price you want to pay. Grading not as much as ungraded.

Coins shows at least you get to look at it before purchase and counter offer if need be.

LeeBone · July 22, 2013 7:01AM

My personal experience is that over the last 3-5 years coins are more expensive at the shows now.

ebaybuyer · July 22, 2013 7:18AM

probably would save 90% of what would be spent that day as there is usually very little available at shows.

WestySteve · July 22, 2013 7:19AM

Seems like shows are more expensive for the better material, but cheaper for the more common stuff. Also, the answer to your question can depend on how busy the show is. If a show is really show, you can sometimes get great deals if you wait until the end. So it depends on the rarity and popularity of what you're looking for, and how fast or slow the show is.

renomedphys · July 22, 2013 7:28AM

Even if the direct savings aren't there, you sure can find stuff you wouldn't otherwise, and that in itself can translate into big $$$.

BillJones · July 22, 2013 7:45AM

The biggest money saving aspect to be gained from going to coin shows stems from the fact that you get to see the coin before you decide whether it is right or wrong for you. You also have a better chance of finding a real "gem" and by that I mean a piece that is choice for the grade by seeing it in person. No photo can compare to an "in hand" review of a coin.

There are also some dealers who offer discounts at the shows below the prices that they post on the Internet. I can't tell how this might work if you ask for the best price on-line, but at the shows it is a "no haggle" situation.

Wabbit2313 · July 22, 2013 7:56AM

<< If you are buying Mercury dimes or cherrypicking varieties, it may be a different experience. >>

Howdy:

Just wondering why you single out Mercury Dimes? (Common??)

Thanks!

DaveG · July 22, 2013 8:28AM

It really depends on the coin and the situation.

If you're buying a coin from dealer A who bought the coin from dealer B at the show, then you'll probably pay more than if you went to the show and bought the coin from dealer B. On the other hand, you'll have to pay your own travel expenses.

My favorite part of going to shows is seeing coins I might not see at home and dealing with dealers in person who I might only deal with via the Internet. Sometimes the personal touch can save some money or get you a shot a coin you might not otherwise have had a chance of purchasing.

Ed62 · July 22, 2013 8:31AM

To be precise and specific: It depends.

Lakesammman · July 22, 2013 9:49AM

That's a complicated one w/o a firm answer as already noted.

For me the real reason to go (to a major show, besides the social aspects) is the breadth of material, the chance to get to know dealers one-on-one, to see auction lots first hand and the opportunity to see the NEWPS that often appear at shows (and to get 1st shot).

If I avoid one bad auction purchase, that's quite a savings (yes, I know dealers that can look for me, but it needs to please my eye and mine only).

Don't know how to place a value on all that.

savoyspecial · July 22, 2013 10:02AM

Bill Jones nailed it (as usual)

TomB · July 22, 2013 10:06AM

In my opinion, the opportunity to purchase the right coin is more important than the cost.

coppertoning · July 22, 2013 10:15AM

In my experience it is more expensive for me at the shows.

1. I have to travel to go to a large show. Gas, room, sometimes I may even take a day of work.

2. The smaller shows which are near me usually do not have much if any of what I collect.

3. If I go to a show I am going to buy something. May not be expensive but it is coming home.

With that said at the larger shows I do enjoy getting to view coins I collect in hand and usually do find a better deal on the coin. Not to mention it is fun.

LindeDad · July 22, 2013 10:18AM

<< In my opinion, the opportunity to purchase the right coin is more important than the cost. >>

Being able to do this just once made all the other overpayments null for me. But I only get to a show every year or so.

Shamika · July 22, 2013 10:19AM

The few shows I've visited had a number of overgraded junk. So don't think you can avoid paying tuition by frequented coin shows.

Flatwoods · July 22, 2013 10:26AM

Going to a show has never saved me money.
That may vary from person to person.

TwoSides2aCoin · July 22, 2013 10:26AM

Some guys spend more on one coin than I can save my whole life.

bosco5041 · July 23, 2013 5:11AM

<< The biggest money saving aspect to be gained from going to coin shows stems from the fact that you get to see the coin before you decide whether it is right or wrong for you. You also have a better chance of finding a real "gem" and by that I mean a piece that is choice for the grade by seeing it in person. No photo can compare to an "in hand" review of a coin.

There are also some dealers who offer discounts at the shows below the prices that they post on the Internet. I can't tell how this might work if you ask for the best price on-line, but at the shows it is a "no haggle" situation. >>

Thanks for all your responses. I seem to agree with what Bill Jones says. At a show the dealer knows its not going to be sent back to him and the sale is final.

georgiacop50 · July 23, 2013 5:27AM

Depends.

I once had Gus Tiso take a shot at me at a show. He quoted me a price that was no less than DOUBLE his price in a Coin World ad.

Elcontador · July 23, 2013 7:29AM

The biggest money saving aspect to be gained from going to coin shows stems from the fact that you get to see the coin before you decide whether it is right or wrong for you. You also have a better chance of finding a real "gem" and by that I mean a piece that is choice for the grade by seeing it in person. No photo can compare to an "in hand" review of a coin.

This. I never buy a coin from an image. Ever. Even under the best of circumstances, an image may omit hairlines on a PF coin, carbon flecks on copper or silver coins, not accurately pick up the subtleties of a toned coin, etc. Continuing, there are only several dealers from whom I would accept a coin on approval. Sure, you can return it, but I don't want to be bothered. But this depends on what you collect, as the above might not be relevant to you.

At a show, you can see a coin, pass or play, and know exactly what you are getting. I'll typically get 6-10% off the internet price at a show, but as Bill Jones commented, if you inquire on a website and ask for a best internet price, you might wind up with the same result. Seeing many coins in hand at a show is an experience that cannot be discounted. Plus, as others have mentioned, you may make contacts that would help you to find coins which otherwise might not be offered to you.

There are no coin shops in my area that carry what I am looking for. The former owner of the shop closest to my home was sent to jail for stealing money from customers.

The only other way I buy coins is via auction representation from a dealer I trust.

Then again, it depends on what you collect. If you want to put together a set of Lincoln Cents in XF 40, the internet might work just fine for you.

CoinRaritiesOnline · July 23, 2013 8:15AM

If the question is can I get a better deal on coin X from a dealer at a show than I can if buying the same exact coin from the dealer's website, the answer is often yes. The dealer knows you have seen the coin and like it, doesn't have to take the time and expense to ship it, and thus will often give you a break on the price.

On the other hand, getting to and from shows isn't free, and while you are there you (if you are like many collectors) you might make an impulse buy or two which you later decide were a mistake.

Walkerfan · July 23, 2013 9:58AM

<< 

<< I've found that, for the coins I'm interested in, they're usually more expensive at shows. >>

Ain't it the truth.

Mike >>

Agreed

hchcoin · July 23, 2013 11:42AM

<< If the question is can I get a better deal on coin X from a dealer at a show than I can if buying the same exact coin from the dealer's website, the answer is often yes. The dealer knows you have seen the coin and like it, doesn't have to take the time and expense to ship it, and thus will often give you a break on the price.

On the other hand, getting to and from shows isn't free, and while you are there you (if you are like many collectors) you might make an impulse buy or two which you later decide were a mistake. >>

Excellent answer John!

I have found that I can do better at shows with most dealers. They are very open to negotiating and most are very pleasant to deal with. One of the things I love most about shows is the ability to negotiate in person versus over the phone. It gives me a much better read on the other persons feelings.

I also think trading at shows is awesome and can be an even greater money saver. I always try to bring some nice coins to trade in case I see something I like. I traded a 1922 No D graded lincoln for a graded draped bust half and we were both very happy with the deal.

Cougar1978 · July 23, 2013 11:50AM

I buy lots of material at shows for my online store and these will usually sell in a few days. Most from walkup sellers at my table or wholesalers which give discounts to dealers like myself.

GoldenEyeNumismatics · July 24, 2013 3:20AM

If you are savvy you can save money regardless of where you buy.

Flash · July 24, 2013 4:37AM

<< Depends.

I once had Gus Tiso take a shot at me at a show. He quoted me a price that was no less than DOUBLE his price in a Coin World ad.

>>

What was his reaction when you called him out on it?

AMRC · July 24, 2013 4:39AM

I have seen no difference in prices between internet prices and the bourse floor. I have seen some differences between Auction Prices and Dealer pricing, as some of the Auction sales seem to be setting new records for CAC coins.

georgiacop50 · July 25, 2013 10:52PM

<< 

<< Depends.

I once had Gus Tiso take a shot at me at a show. He quoted me a price that was no less than DOUBLE his price in a Coin World ad.

>>

What was his reaction when you called him out on it? >>

I did not call him out on it because I was busy cherry picking a sweet variety. When CP'ing it helps to put on an air of "bumbling fool that knows nothing about pricing".

When I rejected the coin he was trying to gouge me on, but bought the other variety coin, he made the comment, "Priced this one too low, huh?"

It was certainly no bargain at $200, (a 1949 50c Bugs Bunny unattributed in PCGS 65FBL), even considering the variety, but it was also a sweet toner.

How much money can a collector save by going to coin shows?

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