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I'm going to my first coin show this weekend. Any Tips? Edit: Report from my first show!
Gator5220
Posts: 1,194
It's in Birmingham, AL tomorrow. I'm going to be shopping for Morgans, especially CC Morgans.
Do any of you have any tips to share?
Is it bad form to carry a greysheet or redbook or redbook of Morgan dollars? Or will I look like a "mark" if I stroll in with these items?
Typically, how do prices at shows compare with prices on the BST or eBay?
Do any of you have any tips to share?
Is it bad form to carry a greysheet or redbook or redbook of Morgan dollars? Or will I look like a "mark" if I stroll in with these items?
Typically, how do prices at shows compare with prices on the BST or eBay?
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<< <i> Some may disagree, but I would suggest not buying the first thing you see. There may be much better items on the floor if your patient. >>
Hell, I'd go so far as to say YOU SHOULD NOT BUY ANYTHING!
If you've never been to a coin show, you'll easily be overwhelmed. Don't be surprised if you walk out with a splitting headache. You'll find it to be numismatic overload. Too many coins, too many people, too little time.
If you just go to enjoy the view and chat with a dealer or two, you'll really have more fun. The second coin show you attend will be the right time to buy.
I suspect you'll see hundreds of Morgans, don't get overwhelmed. Bring the gray and leave the red at home.
and take a shower when you get home. I use to have to do this when I was in construction work, now it's necessary when
returning from coin shows!!!!
Do you think any different of a potential customer when someone visits your table with a greysheet in hand?
Since that show I've gained so much knowledge from these forums and have looked at thousands of pictures and hundres of coins so I'm prepared for the next show in a month. I plan on taking my Redbook and a couple of excel printouts with me (and cash of course). I'm working on a Dansco so I plan on trying to fill a couple of holes in it.
My advice is to relax and have fun, don't expect to find anything and you'll enjoy it more.
Millertime
Complete Dime Set
<< <i>What others have said and one important thing to add..... Might want to take your clothes off at your front door,
and take a shower when you get home. I use to have to do this when I was in construction work, now it's necessary when
returning from coin shows!!!! >>
I felt the same way. I was dressed for winter and by the time I was done I felt like I'd been wrung through the washer. Next time I'll be in a tank top even if it's 20 deg outside!
Complete Dime Set
<< <i>At your first show you should bring a nice slabbed PCGS coin and ask dealers for offers- you don't have to sell. You will learn a lot from this. >>
What should I expect to learn from this?
<< <i>
<< <i>At your first show you should bring a nice slabbed PCGS coin and ask dealers for offers- you don't have to sell. You will learn a lot from this. >>
What should I expect to learn from this? >>
One thing, you might learn what pro's say when they're the ones buying coins instead of you. Another, you'll find out how much you'll lose if you decide to sell one of your CC's to buy a better example.
<< <i>What others have said and one important thing to add..... Might want to take your clothes off at your front door,
and take a shower when you get home. I use to have to do this when I was in construction work, now it's necessary when
returning from coin shows!!!! >>
Heck, you might have to start after visiting here.
<< <i>
<< <i>What others have said and one important thing to add..... Might want to take your clothes off at your front door,
and take a shower when you get home. I use to have to do this when I was in construction work, now it's necessary when
returning from coin shows!!!! >>
Heck, you might have to start after visiting here. >>
Just my hands. Heh
We want to know.
1. You stop at a bourse and, dazzled by the glittering array of Morgan dollars before you, ask to see one that catches your eye. You inspect it and decide to ask him a question about it. The question may not come easily, because you will realize before the words leave your lips that your lack of knowledge is about to be exposed in the way you phrase the question. But you will ask because there is no other source to call upon.
2. He will show you the coin and tell you 5 things about it--it has nice luster, it's good for the grade, good strike, and so on.
3. You will feel a sense of appreciation, if not total trust, toward him. His spending only 2 minutes with you will make it seem to you like he spent 20 minutes, and you will feel at least mildly indebted for his sharing his knowledge. He will sense this.
4. He will say with sincerity, "It's a very nice coin, it's very difficult to go wrong with it, and I'll go 10% off." His demeanor will suggest he's not driving a hard bargain because that would come with his real high-end stuff. He's making a profit on the sale, but a very small one.
5. At that point the temptation to buy is just enormous, and chances are you will buy.
6. You will feel a lingering sense of worry (though not buyer's remorse) the rest of the day. You will accept it because you will admit it is unreasonable to go there and not expect to buy something.
7. Some time later you will find that the deal you got was very average (again, not a ripoff), and that your money could have been spent more effectively had you had a bit more experience under your belt.
8. Finally, by buying the coin, you were getting experience. In most cases that's how it works. The key, obviously, is to not pay too high a price for getting the experience. Have a budget in mind and don't go above it. Or at least not very much above it.
Have a great time. It's all part of the charm.
Sorry I missed this Fri. Here is some edited advice I received:
Anyways, absolutely take your coins to have them looked at. Have them looked at by many dealers. Let me back up a second.
First, take your greysheet, and a grading guide.
Walk the floor and get an overview of the show.
Find dealers who sell coins such as the ones that you have or want. Talk with them first (if time permits) and be aware of customers who are also looking.
Before you show your coins to any dealer, you need to have a general idea of the grade and value of the coin. If any dealer quotes a grade or price that is way off, ask why. You may have overlooked an old cleaning or rim bumps, or something minor.
Also the most important thing to remember that these guys are there to make money. Some forget that it takes customers to accomplish this and can be quite rude. Don't judge every dealer on a few bad ones. Just thank them for their time and move on. You will have many dealers to choose from.
When looking for a coin to purchase, be extra choosy. There will be few coins that have a "must buy" tag. Ask for the dealers grade if they do not have it marked and ask if they buy and sell based on greysheet. Then check to see how close they actually are.
DO NOT waive that greysheet like it is a magic wand. Dealers will hone in on you in a heartbeat and nail you good.
Be sure to ask lots of questions. A large show can be a great experience if done properly. I have had the experience to walk a few friends through some of the larger shows, and I learn how the little collector thinks. I find it great that people can still be excited over a Red Indian Cent.
Now that you have me all sidetracked, the number 1 rule is to have fun. I would suggest that you attend the show both days. Thursday will be far less busy and you will have more time to talk. Save Friday for buying and selling. Take a pen and paper with you to write down dealer table numbers and location. Get plenty of business cards.
Here is an article on buying coins at a major show by Raymond Hanisco:
buying
Don
Actually, I had a really good time. I must confess I was a little nervous when I got there, after reading some of the negative stuff on here about shows. Maybe it was because it was a smaller, more "relaxed" show, but I found every dealer I spoke with to be very freindly and willing to show me anything I wanted to see. Nobody pre-judged me.
I went in looking for a nice CC in MS-64, a common date MS-65, and a common date MS-64PL Morgan. I found all three from a dealer from "Dalton Gold and Silver Exchange". Unfortunately, I can't remember his name, but he was very friendly and helped me find what I was looking for. He had far more Morgans than anybody else there, by a mile. He said it was his first time doing the Pelham show, maybe he won't carry so much next time.
I also bought a fourth Morgan from Tassa. It's a common date MS-65, but it caught my eye, and I just wanted it. I wanted to see an Oregon Comm up close but nobody seemed to have one. Probably for the best, because I probably would have bought it also.
From a price standpoint, I can do just as well on the BST or eBay, but I value good service, and I am willing to pay an extra 5-10% in-person for good service and that feeling that I'm being taken care of.
I want to give a special thanks to Tassa (Danaca), and the gentleman who she was working with. I'm embarassed to say I forgot his name. Man, i'm forgetful.
One observation that I found funny: With most of the dealers there, they looked like you could remove the coin cases in front of them and replace them with bingo cards, and they would still be right at home!
I'll post pics tonight or tomorrow night. I've got to assemble a Bowflex that came in today for the wife and I, but more for me.
Don
Semper ubi sub ubi
Glad you enjoyed the show. I've been called many things, but rarely a gentleman.
Dalton Gold & Silver Exchange is Grant Campbell....a good guy and you would do well to build a relationship. I am pretty sure he is not affiliated with the ebay Dalton Gold seller.
<< <i>One observation that I found funny: With most of the dealers there, they looked like you could remove the coin cases in front of them and replace them with bingo cards, and they would still be right at home! >>
Funny you should mention that. Right at 6:00 everybody pulled out the bingo cards but played with them directly on the cases. jk
<< <i>
I want to give a special thanks to Tassa (Danaca), and the gentleman who she was working with. I'm embarassed to say I forgot his name. Man, i'm forgetful.
. >>
Until he posted, I had no idea that the gentleman to whom you referred was Fats. He is indeed a gentleman, and was very helpful to me at my first show-the SF ANA-taught me tons and introduced me to helpful folks such as Wayne Herndon, Brandon Kelly, Al Adams and Carl Lester. He has some OK commems too
Don