My first coin show as a dealer.

knagrone · May 17, 2016 1:33AM

Hello all, I have been visiting your forum for about a year now. It’s been very informative and interesting. A little about me, I have been collecting (mostly U.S.) coins for around 45 years. My collection consisted of a little of everything. A few years ago I decided to specialize in only one denomination. I choose small Cents. Not sure why exactly, maybe they brought back memories of my teenage years, struggling to save enough money to buy the Keys to my Lincoln set. Anyway, this is my first post and I will keep it short. I have acquired a fairly substantial collection of Flying Eagle, Indian, and Lincoln cents. Mostly high grade circs and mint state. About half are raw and the rest in PCGS slabs. I will be setting up my first table at our local coin show this weekend. My question is; how should I price my material? I have read a few threads on this forum already about checking historical data, Heritage and EBay sold listings and have done some of that. I just received a copy of the latest Greysheet, but it did not cover small Cents. I mainly just want to be fair on my pricing. Would it be fair to say that if I stay close to Numismedia Collector Price Guide, would that be close enough? Or should I go a percentage above or below Numismedia prices. My main concern is overpricing. The show starts Friday morning and I am running out of time. Thanks very much for all your insight and time! I hope this is the right place for this! Kevin N.

PerryHall · May 17, 2016 1:38AM

If you have to ask how to price your coins you aren't ready to be a dealer. Also, if you are setting up at a coin show you can expect the other dealer to all come over to your table to cherry pick you and to make low ball offers on your best material.

BStrauss3 · May 17, 2016 1:42AM

Numismedia's Collectors guide are retail prices... they also have dealer guides for a fee.

For certified coins, there is also price guides at PCGS (for PCGS coins) and NGC (for NGC coins).

You can certainly start at Numismedia collector prices, but expect to ask "is there any room in there"? And be willing to come down a little.

Some people won't negotiate, they'll just walk. But you may do better than they're willing to pay anyhow. Lots of people will expect to pay GreySheet or even less...

jcping · May 17, 2016 1:50AM

Depending on you want to do retail business or retail/wholesale business or wholesale only. For retail only pricing, try PCGS price guide and PCGS auction results. For wholesale, decide a percentage number and multiply with grey sheet bids as starting point. Good lucky

oih82w8 · May 17, 2016 2:03AM

Also, if you are setting up at a coin show you can expect the other dealer to all come over to your table to cherry pick you and to make low ball offers on your best material.

Ahrensdad · May 17, 2016 2:15AM

Good luck at the show.

For pricing of the certified material I'd suggest using coin facts. They will give you a good idea of recent auction results. I price retail a little higher than that. I'd also think about what wholesale price you'd want if dealers are asking for prices (if you even want to sell wholesale).

for raw BU Lincolns 40's and later use the roll bid prices in the grey sheet as a guide. Grey sheet should give you some guidance on Flying Eagles and Indian Cents.

Don't forget to bring small bills for change, receipts, pens, calculator, and above all-have fun!

Feel free to PM me if you have specific questions. I run a small local show and have been setting up for about 15 years. Not a big fish by any stretch, but have experience at the small local show level.

All the best,
Andrew

Walkerguy21D · May 17, 2016 2:25AM

It also may depend on how badly you want to sell your coins.
If the coins are nice and you are in no hurry, there is no need to price them too cheap.
Problem coins likely need a significant discount in this market.
Determine your 'real bottom line', perhaps based on what you paid, along with the pricing guides.

I'd also strongly recommend you review or brush up on security measures and precautions!

Good luck, and let us know how it works out.

sparky64 · May 17, 2016 2:26AM

Something many of us wannabes want to try some day.

I think it'll be an education and help one be a better buyer.

Many quality threads on the subject.

One of the many threads about first time coin show sellers.

PerryHall · May 17, 2016 2:45AM

A lot of good information and advice here. Be sure to bring some cash with you. As a dealer set up at a coin show you will most likely be offered coins by collectors who want to sell for whatever reason, usually to buy other coins at the show. How is your ability to grade raw coins and, more importantly, how is your ability to authenticate rare coins? If you have a good friend it wouldn't hurt to bring him along to help watch your table should you need to use the rest room or walk the floor to check other what other dealers are offering. Good luck and give us a report on how you did.

joeykoins · May 17, 2016 2:59AM

Hi, and first of all,

to school! I say school because you will be taught here on our forum from coins to manners to ethics to business. Business should be your top requirement, if like you say, your becoming a dealer. You better have the knowledge in the coin hobby as well as, the price of your coins before you get into a true bind. This forum alone may teach you what it really takes to be a coin dealer. Well, this is all your decision of course and I wish you the best of luck. Remember, while on our forum, mainly to have fun and don't be a stranger. Welcome once again and the small cents that you've chosen, is a wise start. I for one love the Lincoln cent. Old and new! One more thing, don't be taken advantaged of. Be aware of all your coin collection. See 'ya later.-joey

RichieURich · May 17, 2016 3:09AM

Here is a great thread about setting up at a first show by DRUNNER:

First show set-up

Gazes · May 17, 2016 4:49AM

Sounds exciting--good luck!

coindeuce · May 17, 2016 5:01AM

You can obtain a Monthly Supplement of the Coin Dealer Newsletter at their website, greysheet.com. The Monthly Supplement covers the bids of Flying Eagle, Indian Head and most Lincoln Cent dates prior to WWII. The copy can be downloaded in pdf form to your hard drive and you can print it out too if necessary.

As to the protocol of handling yourself at your first show - be deliberate, be firm, and don't let anyone badger you in to making irrational choices. Most of all, be secure. Don't put any inventory out on display in loose fashion. Keep it locked up until you're ready to transact. If you're acting alone at the table, find a trustworthy individual to watch over your wares if you have to leave for a bathroom break or other necessities. While you're setting up, if you get besieged by other dealers, it is more effective to tell them to give you a business card with a list of the items they want prices on, as you don't need to be distracted during set-up. You can always invite them to come back for an update after you are set up. It usually isn't necessary to be forceful, unless you have to respond to a particularly aggressive dealer.

Good luck ! !

MICHAELDIXON · May 17, 2016 5:10AM

You can always come down in price, but you will find it extremely difficult to go up in price. So...price them at guide and "haggle" price.

Cougar1978 · May 17, 2016 5:54AM

For pricing my goal is to get somewhere between cost and retail. I consult TPG Price guides and CW Trends for retail. These are entered in a spreadsheet along with cost. The inventory spreadsheet with pertinent data is available via my laptop and printed out for my reference.

I do not like putting stickers on holders. It is up to you what you want to ask for your coins. Never put a price sticker on the front, dealers will try to undercut you, and it may be negotiable so we do not want to scare away interested buyers. What I find, if the people coming the door are not asking prices, it means they have little or no money.

Price guides are just guides, the bottom line is you want a margin over cost you are satisfied with. .

I consider numismedia prices to be too low and instead use CW Trends and TPG price guide for reference in researching retail. You can also refer to dealer pricelists in CW or NN and sample what they are asking for the kind of material you do. Auction prices can represent wholesale liquidation so I really do not consider these relevant for proper retail pricing unless some unusual situation where the auction price higher than retail.

My goal at a show is to strong retail sales and buying right. Some shows may be weak selling shows but strong buying shows getting lots of good deals.

Do not let other dealers pick you off. If they sense your a newbie they are looking to rip what they can flip. Until you have a feel for what you can sell to the public hold off on dealer offers unless your up to par with pricing and trying move out of something.

DollarAfterDollar · May 17, 2016 6:19AM

I'm a little late to the party but :

1. Welcome to the forum.

2. Price using Coinfacts or E-Bay "sold" listings. If the Dealers are circling, you know you're giving away money.............literally.

Hope you had fun and learned a few things.

291fifth · May 17, 2016 6:20AM

Unless your coins are exceptional they will be tough to move at retail. Collectors at small shows want "deals". You will have to carefully evaluate the reaction the people who view your coins have to their pricing and modify it accordingly. Being picked clean by other dealers may not actually be that bad a thing as much of today's business is dealers buying from dealers. What do you plan to do when coins are offered to you for sale or trade? Don't bury yourself by being too generous with your offers. It is time to think like a dealer and buy like a dealer.

BryceM · May 17, 2016 7:32AM

As expressed by an earlier individual, asking a bunch of random people for help with pricing prior to your first show is a bit worrisome. It's a cutthroat business, and there are people who are very skilled at getting what they want at prices they establish. The real-world buy/sell spread is often much larger than collectors realize. It's not a bad thing - it's how dealers make a living, but remember you'll now be competing with these people. Selling retail is only one part of what a dealer usually does, but it's the part that is the most familiar to most collectors. Your better material will be gone very quickly, even at strong prices. Almost all of your weaker material will still be with you at the end of the show unless you discount it significantly.

Your desired timeframe and exit strategy for what doesn't move at the show (or at a few shows) determines how aggressively to price your material. If you're in no hurry, you'll do better in the end to establish solid prices and stick with it. If you are selling raw coins that are worth more than $200 or so, you'll almost certainly be getting lowball offers. Most people assume that anything that isn't in a slab has already been rejected by the TPGs.

As far as pricing, CoinFacts has the best real-world information, but it's a bit cumbersome when managing a large inventory. You also need to pay attention to holders, stickers, toning, strike, market whims, etc, and all of that needs to be done on a coin-by-coin basis. Any mistakes you make will be quickly discovered and exploited by those with a head for numbers and a feel for current market conditions.

All of that doom-and-gloom aside, I think you'll have a great time, and I'd love to be there with you. You'll learn tons, meet new people, and you'll be better prepared for your subsequent outings.

acloco · May 17, 2016 7:37AM

PM sent.

Shamika · May 17, 2016 11:30AM

Welcome to the forum.

Kccoin · May 17, 2016 12:21PM

Welcome to the forums!

I cannot speak from a dealers perspective, but a few things I have noticed from hitting shows

-the good stuff sells. Try not to sell this stuff cheap if you are trying to make a buck

-bring funds. Oppurtunity presents itself, so be ready.

-brings goodies for the little ones (worn buffs, etc)

-be prepared for THOSE dealers. They have cash, but will pick you clean.

-know what you have into your coins, and think of a bottom line (15%?)

Most important, have fun! Best of luck behind the table. Hope you do well, and your coins go to good homes

TopographicOceans · May 17, 2016 1:10PM

Price them for more than you paid for them

Cougar1978 · May 17, 2016 3:01PM

I believe you will find a lot of people have already spent their money on ebay. It is really tough to make any kind of money in this market. Many series like Classic Commems have been stagnant for years. The MS64 Long Island Half Dollar is a case in point. It was a $100 coin back in 1997 and still is now. So unless you can buy material at about 60% of what your going to sell it for forget being in the coin business.

If your just there at the show liquidating what are you going to do when you run out of inventory. A viable coin business needs a plan. It takes getting retail money and buying material right.

From the posts of some of the people here a lot of them are very wealthy collectors. Those folks are rarer at shows than the coins themselves lol. And they might not even buy anything from you as they will flock to their favorite dealer.

I would suggest you walk the floor of the show and see what the other dealers are selling and if they are having any success when time permits. I have been at two day shows which are basically over (sales wise) at say 3PM on Saturday (Sundays are usually dead).

mannie gray · May 17, 2016 3:05PM

I would suggest you walk the floor of the show and see what the other dealers are selling and if they are having any success when time permits. I have been at two day shows which are basically over (sales wise) at say 3PM on Saturday (Sundays are usually dead).

I agree with this.

mannie gray · May 17, 2016 3:17PM

Originally posted by: BryceM

As expressed by an earlier individual, asking a bunch of random people for help with pricing prior to your first show is a bit worrisome. It's a cutthroat business, and there are people who are very skilled at getting what they want at prices they establish. The real-world buy/sell spread is often much larger than collectors realize. It's not a bad thing - it's how dealers make a living, but remember you'll now be competing with these people. Selling retail is only one part of what a dealer usually does, but it's the part that is the most familiar to most collectors. Your better material will be gone very quickly, even at strong prices. Almost all of your weaker material will still be with you at the end of the show unless you discount it significantly.

Your desired timeframe and exit strategy for what doesn't move at the show (or at a few shows) determines how aggressively to price your material. If you're in no hurry, you'll do better in the end to establish solid prices and stick with it. If you are selling raw coins that are worth more than $200 or so, you'll almost certainly be getting lowball offers. Most people assume that anything that isn't in a slab has already been rejected by the TPGs.

As far as pricing, CoinFacts has the best real-world information, but it's a bit cumbersome when managing a large inventory. You also need to pay attention to holders, stickers, toning, strike, market whims, etc, and all of that needs to be done on a coin-by-coin basis. Any mistakes you make will be quickly discovered and exploited by those with a head for numbers and a feel for current market conditions.

All of that doom-and-gloom aside, I think you'll have a great time, and I'd love to be there with you. You'll learn tons, meet new people, and you'll be better prepared for your subsequent outings.

Great post. I think you may be surprised how cutthroat it really is, until you get into the trenches.

I may add a word of advice for you. When a dealer comes up to you for a price, have a firm price in mind already, price it higher so they think they got you. This probably has been mentioned by others already.

And don't waffle around. If you have $80 in a coin for example, and want to move it, don't say "I would probably be at about 100..." or "Um, I would need around 95" These are words they love to hear and if they sense any weakness or waffling they will pry you open.

Don't offer to tell a prospective buyer what you paid for a coin. I am amazed at how many people do this (assuming they are truthful, which I doubt). It's of no concern to a possible buyer what you have in the coin.

Your first show will tell you one of two things.

1. If you have nice material and a good eye, the dealers will be swamping you.

2. If you don't even get a glance as the newbie (and they will all know you are a newbie) then you may want to reconsider your coin "eye" or buying skills.

ricko · May 17, 2016 11:56PM

Welcome aboard knagrone. There is a lot of good advice above... I cannot offer any on the

selling end of the hobby.... however, be careful...both at the show and travel to and from the show. Security is important...we see many posts here about dealers that are robbed...coins that are stolen at the show etc., etc.. Best of luck and let us know how things go. Cheers, RickO

knagrone · May 18, 2016 12:09AM

Well, I definitely came to the right place for advice on this issue! I want to thank everyone for all the useful information. I actually have bought and sold a lot of coins over the years and have made decent money doing it, mainly at the wholesale level. Just to be clear, I am not trying to become a full time coin dealer, I just thought it would be a good opportunity to sell at better prices and interact with some experienced dealers. If it works out, maybe setup once a year here at our local show. We usually get around 25 to 30 dealers I believe. After reading all your great comments, I feel more confident in my pricing and show expectations. I will follow-up next week with a report on how it went. Should be fun! Thanks again for all the support! Kevin

mannie gray · May 18, 2016 12:34AM

Good luck Kevin. If you have turned a nice profit already when selling, you will do just fine.

Expect a lot of wholesale activity before startup.

roadrunner · May 18, 2016 1:22AM

80-90% of the coins routinely available on the coin market in the $25 to $5,000 range are traded between dealers at 60-70% of PCGS price guide. I don't include many newer moderns in that %. Common moderns sometimes might only be worth 10% of price guide. The kind of monster moderns that Wondercoin buys are often worth multiples of price guide. Small cents from 1857 to 1958 are routinely traded and for the most part accurately priced somewhere. I'd expect 65% of the PCGS price guide to be a fair representation of wholesale values for collectible pieces, not circ common wheat cents or 1958 BU rolls. If you're trying to get retail prices, Ebay, Great Collections, Heritage, Charmy, AndyS, Rick Snow, and others already to that. Unless you beat their prices, collectors will just buy from those guys. See what stuff sells for at those locations.

You've been a collector for 45 years....you do know what this stuff is worth both wholesale and retail. Just take some time and work it through. Don't lean on Numismedia or any single price guide. Many have severe short-comings. Don't even think of offering something unless you know what a strong dealer wholesale is worth...and then a proper mark up to get a retail sale. There is one rule for anything. Problem free, orig surface, scarce date coins are worth quite a bit more than a so-so coin with issues. There is so much quality difference in any single grade range (ie XF40) that the price of such a coin could vary from VF30 to AU50 typical money. If unsure take it slow. You don't want to price everything to moon and alienate every potential customer you meet, and you also don't want to be easy pickings for sharp collectors and dealers.

Better to not sell a single coin your first time out than to picked off on your best coins having priced them too cheap. Selling a lot of coins doesn't make anyone a dealer. Replacing that inventory and your preferred margins and doing it over and over again does make you a dealer. Many new dealers use their "collections"built over 10-20 years as starting inventory. Then they wonder why it all sold so easily and yet near impossible to replace.

The market has been difficult for many the past 7 years. Numerous dealers have been forced out of the market as their margins got sliced. I've known a number of them that knew what they were doing, but just couldn't make it profitable enough any more. Expect it to be difficult. When you buy right, selling is easy. Buying right is the hard part.

Cougar1978 · May 18, 2016 1:28AM

You will be dealing w people there to buy low / sell high like me. They are very skilled at this and this is why they have survived in this very tough business. They will be there to pick your nicer stuff for whatever story will work.

TwoSides2aCoin · May 18, 2016 1:37AM

Praying for those preying on you.

roadrunner · May 18, 2016 1:42AM

Give us a single example of a very typical coin in your new inventory that you want to figure out pricing on. Tell us what you come up with as a first estimate. I don't know if you're planning on selling $5-$200 G-XF Indian/Lincoln cents, or $300-$3,000 choice/gem uncs/proofs. What's a typical coin?

Baley · May 18, 2016 3:20AM

If unsure take it slow. You don't want to price everything to moon and alienate every potential customer you meet, and you also don't want to be easy pickings for sharp collectors and dealers.

Better to not sell a single coin your first time out than to picked off on your best coins having priced them too cheap. Selling a lot of coins doesn't make anyone a dealer. Replacing that inventory and your preferred margins and doing it over and over again does make you a dealer. Many new dealers use their "collections"built over 10-20 years as starting inventory. Then they wonder why it all sold so easily and yet near impossible to replace.

Such great advice, had to repost and bold it. Learn it, know it, live it, I'm telling myself, as I contemplate starting to sell off part of a 40-year collection of carefully chosen coins.

Cakes · May 18, 2016 3:25AM

The Buy, Sell, & Trade (BST) section of the message board also has a lot of information.

Good luck, be very careful at your first show, you are a guppy swimming in a shark tank and once they smell blood it can start a feeding frenzy. You might want to scout the place out and figure out which dealers have similar inventory as yours. If approached properly many of the dealers will help out a NOOB. Make sure you grow thick skin, as a NOOB you will take some grilling since you are the new guy.

joeykoins · May 18, 2016 3:50AM

Originally posted by: TopographicOceans

Price them for more than you paid for them

The BEST advice thus far!

MonsterCoinz · May 18, 2016 7:34AM

Within the next year I would like to sell at my first show as well. Mostly to get rid of dupes and "junk". But after reading these responses, it sounds like selling at a show is swimming in the deep end.

What's hard about saying "not interested" when someone tries to sell you a coin, or say "I'm firm on price" when you get an offer you don't like?

mustangmanbob · May 18, 2016 1:00PM

Price everything Friday at 2x the price, and 1 1/2 x the price you want until Saturday 1 PM. .

Post a small sigh that says the price on the coin is adjusted based on current conditions. That way, if a dealer scoops them up, no negotiation, then you know they are too cheap, and you can "adjust" the price, after you open and ponder something in a spiral notebook.

Ask if they have a resale number. If yes, a dealer, and your price is too low. See comment above.

If the person tries to beat you down on price, tell them the coin belongs to a friend, and he will not let you go down of price. Friend is the bad guy, not you.

Take no checks.

Take no trades.

Be careful of the "pile". Guy is piling up common date Morgans at $18 each, and that is all he looked at, and he has 16 of them. But, while you were temporarily distracted, he slipped a $300 Morgan, same packaging, upside down, near the bottom of the pile, so when he "fans" out the pile to show there are 16, you miss the diamond in the rough.

Only put out what you can touch. Know what it is. If it is a PCGS slab, know what you have, so you do not put out an MS65 and get an MS64 back.

I am not a coin dealer, but sell classic Mustang parts at swap meets. Much nicer crowd there, but there are still problem children. I got burned at a coin show, as I had a group of PCGS Morgans to sell. I took 20, so I could ensure the box was always full. The second dealer I asked for a price to sell, spread them out, looked carefully at them, piled them, restacked them, looked up prices, etc. and then decided he was not interested. They were near his own inventory of PCGS Morgans. When he was done, there were 19 in the box. I called him on that, and he told me to pound sand, and said he would get me thrown out. Newbie versus pro.

Ironically, being more careful, and shopping more dealers, when I got home, my 1884-CC MS64 had turned into a DMPL. I have no idea where that switch occurred.

hchcoin · May 18, 2016 2:45PM

Sounds like fun. Can't wait for your report.

SeattleSlammer · May 18, 2016 2:55PM

This thread is a hoot.

Stay frosty.

Trust no one.

Kill or be killed.

....oh, and have fun, too.

Treashunt · May 18, 2016 9:42PM

buy the grey sheet

MFH · May 19, 2016 12:28AM

I assisted a good friend at major shows for a couple of years when I first retired.
Having been in high end retail sales for 30 years, I thought I had seen and heard
everything. One thing that is somewhat unique to coin shows is this elitist attitude
of some dealers who expect you to know who they are when they come to your table.

Case in point, a newly elected officier of the ANA came to my table ( my friend was off
doing errands ) and asked to see a fairly expensive coin ($15,000 or so ) and then said
he'd be right back....WHOA !!! WHOA !!!.... Who do you think you are ? I asked ? He told
me who he was - and I said - you just can't walk up to someone's table and waltz off with
merchandise. After a few moments of reflection, he apologized, and asked if he could show
the coin to a customer....sure, I said, just give me your driver's license. The look on his face
told me the end result, he was PO'd at me - and wouldn't have bought the coin regardless.
"Because he was one of the self entitled big muck-a-mucks."

Remember, it is hard enough to keep track of what's in front of you and if someone "borrows"
anything, keeping track of that too is really too taxing ... As it's been said, don't trust anyone
especially when it's your word against someone whose been in the business for years and has
allies thru out the show who will back the culprit up.

Later, during the same show, a dealer next to me was very friendly ( but my table owner / friend
said the guy was a theif and to pay very close attention to him.)

Sounds like a cut throat environment doesn't it ? Actually, you'll meet many more great people than thieves ...

I spent two enjoyable years attending shows - as a dealer's assistant - and don't regret it for a moment.

Cougar1978 · May 19, 2016 2:32AM

Originally posted by: MFH

I assisted a good friend at major shows for a couple of years when I first retired.
Having been in high end retail sales for 30 years, I thought I had seen and heard
everything. One thing that is somewhat unique to coin shows is this elitist attitude
of some dealers who expect you to know who they are when they come to your table.

Case in point, a newly elected officier of the ANA came to my table ( my friend was off
doing errands ) and asked to see a fairly expensive coin ($15,000 or so ) and then said
he'd be right back....WHOA !!! WHOA !!!.... Who do you think you are ? I asked ? He told
me who he was - and I said - you just can't walk up to someone's table and waltz off with
merchandise. After a few moments of reflection, he apologized, and asked if he could show
the coin to a customer....sure, I said, just give me your driver's license. The look on his face
told me the end result, he was PO'd at me - and wouldn't have bought the coin regardless.
"Because he was one of the self entitled big muck-a-mucks."

Remember, it is hard enough to keep track of what's in front of you and if someone "borrows"
anything, keeping track of that too is really too taxing ... As it's been said, don't trust anyone
especially when it's your word against someone whose been in the business for years and has
allies thru out the show who will back the culprit up.

Later, during the same show, a dealer next to me was very friendly ( but my table owner / friend
said the guy was a theif and to pay very close attention to him.)

Sounds like a cut throat environment doesn't it ? Actually, you'll meet many more great people than thieves ...

I spent two enjoyable years attending shows - as a dealer's assistant - and don't regret it for a moment.

I don't give a rats behind who some dealer or individual at a show is in numismatics. I am an MBA Financial Manager and they can take their elitist attitude and stuff it especially if they think they can walk around with my inventory.

I am there to buy and sell (at my price) and what I say at my table goes. I can't imagine someone having the gall trying to walk off with a $15K coin or want to take it to another dealer for evaluation. No way I would allow it to happen - I would probably would have told them to stay away from my table - and that's forever. Never, ever let someone at a show walk off with your merchandise without paying. I don't care if its a $1.50 item from the junk box.

I would simply tell him nothing leaves my table without being purchased, put the item back in the case and lock it. My experience is the people who want take something off (without paying) are not worth dealing with and this goes back 25 years.

I would just chalk up the experience to bad luck. I rarely have those kind of requests.

roadrunner · May 19, 2016 2:50AM

Originally posted by: Cougar1978

I would simply tell him nothing leaves my table without being purchased, put the item back in the case and lock it. My experience is the people who want take something off (without paying) are not worth dealing with and this goes back 25 years.

My experiences go back over 30 years and are quite different. When I've set up at shows I've let dealers numerous times take back a coin or two to their own tables (or a table where the lighting was better) to inspect it more closely. PNG dealer Dave Carr brought a top end lighting set up with him at every show regardless if set up or not. Never once had a problem with people I knew or were verified by another dealer trusted. And when I was roaming the show flows as a dealer or collector I would routinely ask to take coins to another table where lighting was better. Now if only every dealer brought top notch lighting to their table this would not be necessary. Typically, I got a request at every show from someone who wanted to take a coin over to X's table for whatever reason.

For those who have done the White Plains, NY WESPNEX Thanksgiving show you deal with some of the worst table lighting in the US due to interference from the ceiling flourescent lights. At that show I almost have to take any coin I might buy to a location 10-30 ft away to be under one of the overhead spot lamps where coin viewing is much improved. Dozens of times I'd take a coin I was not 100% certain of back to some eyes I trusted on the other side of the bourse. Was never once refused by anyone...as long as you can point to a dealer or collector they know who will vouch for you. Even seen some of the best dealers in the country take a coin back to someone else they trusted for a 2nd opinion.

Any dealer can certainly refuse anyone taking a coin from their table under any circumstances. I can only tell you that for the dealers and collectors I have worked with over the past 40 years, coins routinely leave tables and safely return or get purchased. I don't know how many times dealers purchased coins from my table and had a check waiting for me at their table later in the show. But anyone can do business any way they like. The concept of a coin never leaving a table without check/cash in hand is a new one to me. What if the check is bad? If someone is that paranoid, then they should only accept cash when selling. Typically, the guys that "took or borrowed" coins from my table were the exact people I wanted to deal with and should have be dealing with. I'd be much more concerned about the sleight of hand experts I didn't know that were right there in front of me at the table.

Now for a newbie at their first show, all the above may not work. But, over time it will. Be on the lookout for commotion at your table or nearby (even if rare). As soon as anything "unusual" happens lock the table down and get the coins back immediately. A friend of mine lost an early $5 gold piece worth $5K or more when someone at or near the table faked a heart attack or seizure. When the commotion died down the coin was nowhere to be found with everyone pointing fingers at someone else. If you can bring an assistant that would help. Then you can safely deal with 2 people at a time with eyes on them.

Being a collector for 45 years in your area you must know a large number of dealers, some of them trustworthy. Hook up with them to help you out. You can't be an island at a show where no one else can be trusted.

roadrunner · May 19, 2016 3:51AM

Raise your hands if you've ever had a dealer send you coins through the mail to look at on approval? Or you shipped out your coins to them for an offer? Or handed them over to an auction house for review prior to agreeing on terms? This all was and still is pretty common. I must have had a dozen or so dealers send me a hundred or more 4 figure coins on approval over the years. I also routinely shipped out 5 figure packages of coins on approval for other dealers to buy. So why is leaving a dealer's table with a single coin not yet paid for such an issue?

When I was a 20 year old in 1974 and a coin worth $50 was a big purchase for me, Steve Ivy Rare Coin out of the blue sent me a package of a half dozen or so choice/gem unc seated coins on approval worth around $14,000. That was insane. What if I was a crook or shyster? No one had ever sent me anything on approval before.

Those coins were probably in response to my want list looking for circs of those same dates, lol. Needless to say I couldn't afford any of them. The REG mail to return them was stiff for me and about a day's pay at $2.75/hr. I held the coins "hostage" until SIR Coin sent me the money up front to mail them back.

PTVETTER · May 19, 2016 7:51AM

let us know how you did at the show, and what you learned.

After all the expenses did you make a profit?

CoinRaritiesOnline · May 19, 2016 8:10AM

Originally posted by: Cougar1978

Originally posted by: MFH

I assisted a good friend at major shows for a couple of years when I first retired.

Having been in high end retail sales for 30 years, I thought I had seen and heard

everything. One thing that is somewhat unique to coin shows is this elitist attitude

of some dealers who expect you to know who they are when they come to your table.

Case in point, a newly elected officier of the ANA came to my table ( my friend was off

doing errands ) and asked to see a fairly expensive coin ($15,000 or so ) and then said

he'd be right back....WHOA !!! WHOA !!!.... Who do you think you are ? I asked ? He told

me who he was - and I said - you just can't walk up to someone's table and waltz off with

merchandise.

I don't give a rats behind who some dealer or individual at a show is in numismatics. I am an MBA Financial Manager and they can take their elitist attitude and stuff it especially if they think they can walk around with my inventory.

Among the 'known' dealers on the floor, asking to take a coin back to your table or giving a coin to someone to go look at at their table is extremely common.

bidask · May 19, 2016 8:36AM

When I set up I usually get cherrypicked, don't do my homework, and end up mispricing my coins to my detriment.

My first coin show as a dealer.

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