Setting up at first show question...
yspsales
Posts: 2,526 ✭✭✭✭✭
Looking at the show calendar in late 2021.... a show coincides with my trip to visit inlaws in Georgia.
A show locally in October in my state may be a possibility as well.
Probably will have enough material graded to fill a couple of cases.
Cash position will be good.
With six months to plan...
Was wondering how far to plan in advance to contact promoter?
Do I buy or rent cases and lights?
Out of state, so assuming I need a GA retail license or does the promoter cover you by renting space?
Probably a dozen other questions I have not thought about...
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If you are talking about the BRNA in Dalton there is usually a pretty long wait list to get a table. Have no idea what the situation is now. No license needed in Ga! Tax free coin state!
Edit to add: 6 months does not mean Dalton. 1 day Atlanta show, wait list, Augusta, Ga. ??? Don't know. If you want to do any show you should make arrangements ASAP.
It would be the Fall Augusta show in November.
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Added to my original post!
Not just specific to shows, but in general, if I have logistical questions, I try to get in contact as early as possible, lest I find that waiting to a "reasonable" time has now made my plans fall through--the event is full, I needed to do some paperwork that now can't be done in time, etc. 6 months out I'd definitely contact the promoter. Worst he says is contact him again in X months.
Been watching new-to-the bourse dealers setting up for 40+ years.
Merchandising advice. Cherry-pick yourself first. Got a few coins you're especially proud of? Leave them home. Every veteran dealer hopes and dreams of a new dealer who thinks several years' aggregation of conscientiously collected material is "inventory" - until it is time to replace. If two cases is 140 coins, leave half of the best 30 home. First show? I'd advise against thinking about "walking away with a profit" or "covering expenses". It's a prime opportunity to get feedback on your quality and pricing.
Cash heavy? Remember you can go broke buying marginally good deals. Think of your cash in terms of its marginal utility and your purchases in terms of their opportunity costs.
Table rules (for yourself).
Don't argue in response to ridiculous low-ball offers. Practice being insincerely polite in front of a mirror.
Per Col. Ellsworth's Summer Seminar course title, learn "How to Think Like a Coin Thief"
The other dealers will be swimming around your table like sharks. Know this.
I saw it first hand when I set up at my first show.
They gobbled up my Morgans instantly
Is this a good thing or a bad thing?
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
It all depends on the pricing and what was invested in them. I’d imagine fairly priced non-widget items would be picked up very fast for that reason. Which also means you could price them a bit higher.
Well, I was trying to get rid of them to fund the purchase of my very first fishing kayak.
So, it was an exceptionally good thing
"Liked" in error, disagree. Want stay in business as a coin dealer? Your original cost of any item in inventory is irrelevant. For operational purposes, replacement cost. is what matters.
I guess it’s a different world from the business areas I am involved in which is more of a tech services world. In that world the pricing and cap-ex/op-ex cost means a great deal.
Just a heads up- think you "LOL'd", not "Liked".
I don't think there's any inventory based business where replacement cost isn't an issue. Services are a different story because you don't replace the service. But even there, you wouldn't charge $75 for a hard drive you paid $50 for if it is going to cost you $100 to replace it.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Some good advice above my three cents
Make a checklist of everything you need to take. From showcase keys to pens. Use the checklist before every show so you don’t find yourself hours from home and you forgot ———. Good luck. Feel free to dom me if I can help
@yspsales This is the advice most people wish they had got before their first show. Be smart enough to at least consider it.
That said there is a difference between making it long term and blowing out & raising funds. The vest pocket types split tables to fish for retail buyers when the dealers don’t nibble. If you’re trying to crack into the field EBay is a much easier place to start, the show circuit is much harder because everything form table location to which day you’re selling matters. eBay is mostly a level field where the scale of the buyers smooths out mistakes. If you’re not well profitable on the internet, the show circuits will be worse but more fun.
11.5$ Southern Dollars, The little “Big Easy” set
Definitely need a Tide pen
Security is the critical thing, just too many reports of problems in that area. Unless you are a show regular who others expect to be at the show, chances are it will be as others have said, sharks looking for deals, etc.. Happened to me; I stupidly had a big spread of gold as well, lucky I was not robbed at my first couple shows.
Much of the market has moved online especially certified coins. I'd rather share a table with a knowledgeable seasoned pro than set up green hoping for the best.
Been kicking around the idea all thru the pandemic.
Initial thought and preferable path is to focus selling online.
Replacement, well... that is the tricky part.
Looking at small shows as a networking tool.
Sent out emails to three promoters... small shows so not sure if there will be room.
Thank you for the in depth advice.
Feel free to expand on VPD and other ways to source coins.
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There is a bunch of good info in this thread:
https://forums.collectors.com/discussion/567319/market-report-first-show-set-up-long
An authorized PCGS dealer, and a contributor to the Red Book.
I was thinking that just today!
If I get a table, I will certainly appreciate the kind jesture.
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Don’t show any coins until you are all set up. I always have someone want to look through my boxes while I set up, a big know!
As others have said, get your application and send it in ASAP. Small shows don't usually
have cases to rent, so you better pick some up now. Accept only cash, no checks or CC.
Have plenty of change, don't be a bank for someone wanting to break a $100 bill. That's
their own tough luck. Price your coins 20% above market, this gives you room to haggle.
Look at your inventory and make sure you're willing to sell the item without sellers
remorse on the way home. When you leave the show remove any ID that puts you at the
show, ie. name badge. Pay for gas at the pump, food and drink from a drive thru. The
advice given above is good, follow it to the "T". Good luck and let us know how you did.
Take pics.
Good luck with your entrance to the coin market. I am not a coin dealer, not even a casual seller. However, I spent a career in business and the advice given by @ColonelJessup is sound and logical. Other inputs above are also good. Cheers, RickO
Just got back from the Augusta show and picking up my wife on her family visit.
It seemed slow.
After speaking to a few dealers I recognized, the show circuit seems daunting.
Some travel 30+ weekends a year.
The grind of travel, numerous expenses, security, etc... whew, alot to consider.
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I stopped doing that show several years ago. It is the classic example of more dealers than real customers. Back when it was a smaller show it was a good show!
A large show with lots of out of state big dealers selling large pct inventory at bid - plan making it a buying show as the public will flock to them.