Advice on Coin Show Setup

VTCoins · December 26, 2008 2:15AM

We haven't been selling a heck of a lot at the 14 coin shows we setup at each year. We generally buy a lot of coins from dealers and collectors and wholesale out our bullion, mint products, etc. to other dealers. But we have a lot of great, collectible coins that people are just not looking at.

Here are some changes we are going to make:

1. Bring less coins and have them all priced. I am a one and a half person shop, and we just didn't have the time to have all coins priced. With the less coins, we should be able to keep up with the pricing of coins.
2. Instead of boxes, we are going to put most of the coins in binders. In the past, we would bring eight double row raw boxes for people to poke through. All of the boxes were sorted by type, date, mintmark and grade. We will now put coins in 20 coin sheets in binders.
3. Instead of two coin cases, we will now bring one case. The extra room will allow us to spread out the binders.
4. In our one case, half the case will have better, raw coins stored in 1.5"x1.5" holders. The other half will have certified coins.
5. Behind the table we will have a box each of better raw and certified coins that don't fit in the case.

My goal with these changes is to be able to set up for the show quicker and hopefully present the coins in a more customer-friendly way.

Should we rip the covers off the binders so that people can see the coins easier? What is the maximum price you would recommend for coins in the binders? Any other ideas?

Thanks everyone!

Cladiator · December 26, 2008 2:21AM

I'd put out some type of case/display/whatever to put your more saleable bullion in. You'd be surprised how quick it will move in a show now and likely at a higher price than you're getting from your wholesalers.

PTVETTER · December 26, 2008 2:28AM

I try to keep everything in my cases Locked.....
I do have binders, but keep them behing the table and ask what the person is looking for! If they need to see the binder ( which I have sorted by cents, nickel, dimes and Quarters) I try to sit with them while they have the binders. The problem with binders is coins can disapear too easly.
I don't normally price my coins, the market changes too fast, and I don't have a big enough eraser to take care of all the needed changes.

FilthyBroke · December 26, 2008 2:45AM

<< I don't normally price my coins, the market changes too fast, and I don't have a big enough eraser to take care of all the needed changes. >>

As a buyer, I have trouble getting the attention of the seller often. They often seem to be in discussions and miss out on some potential business if I have to ask prices on everything. Most of the time I only have a short time to browse the inventories and like to see if there's a deal just by a quick glance.

McDonis · December 26, 2008 2:48AM

Speaking as a low end collector I know the rare dealer at a show who puts prices on their coins will probably get my attention. I will also be more inclined to stay longer at your table and perhaps spend more. Most dealers wont give me the time of day once they see I am only interested in lower end coins. Thus pricing helps me to spend money, most shows I spend next to zero because of dealers being jerks, and other customers shoving me out of the way.

I think the idea of putting a price on the coins is a very good idea.

golfer72 · December 26, 2008 2:52AM

I also like prices so i have an idea if its in my ballpark. Its hard to remember all coin prices off the top of your head at least for me. I never bother to look thru binders anyway. If its not in the case I move on. One pet peeve is customers setting up at a table and putting their stuff on top of the cases thus blocking other peoples view. Very rude.

mirabela · December 26, 2008 2:57AM

I'm going to play devil's advocate and say that two things I've always liked about visiting your table are that a) your boxes actually have good coins in them, and b) you price them on the spot.

Having said that, it may be that these things are not helping you in the big picture. I'll look forward to the backward-looking update when you've pursued your new strategy for a while and can evaluate whether it is helping.

Matt

MrHalfDime · December 26, 2008 3:02AM

Tim, I can tell you one thing that will help you, at least as far as I am concerned. Give us a list of the upcoming coin shows that you will be set up at. I always enjoy looking through your material whenever I see you at a show, but I haven't seen you much lately.

SeaEagleCoins · December 26, 2008 3:03AM

<< We haven't been selling a heck of a lot at the 14 coin shows we setup at each year. We generally buy a lot of coins from dealers and collectors and wholesale out our bullion, mint products, etc. to other dealers. But we have a lot of great, collectible coins that people are just not looking at.

Here are some changes we are going to make:

1. Bring less coins and have them all priced. I am a one and a half person shop, and we just didn't have the time to have all coins priced. With the less coins, we should be able to keep up with the pricing of coins. >>

In my experience, it always seems to be the coin(s) I didn't bring that someone is looking for. Also, it is a good idea to have coins priced AND with some "wiggle" room... collectors (and dealers) tend to feel better when they get something "taken off" the marked price... as a matter of fact, on all but extreme rarities, they seem to expect it.

<< 2. Instead of boxes, we are going to put most of the coins in binders. In the past, we would bring eight double row raw boxes for people to poke through. All of the boxes were sorted by type, date, mintmark and grade. We will now put coins in 20 coin sheets in binders. >>

I have personally come to regard binders as a major PITA. Alot of work to maintain and they use up ALOT of table space. I know it works for some dealers but it just doesn't for me.

<< 3. Instead of two coin cases, we will now bring one case. The extra room will allow us to spread out the binders. >>

For the most part, I find that folks that are looking for "better" coins disregard binders, considering it one small step above "bargain bin".

<< 4. In our one case, half the case will have better, raw coins stored in 1.5"x1.5" holders. The other half will have certified coins. >>

OK

<< 5. Behind the table we will have a box each of better raw and certified coins that don't fit in the case. >>

Funny thing I have found about many (not all) collectors... they are suspicious of stuff that is not on display. They have this notion that if it is not in the case, there must be something wrong or inferior about it.

<< My goal with these changes is to be able to set up for the show quicker and hopefully present the coins in a more customer-friendly way.

Should we rip the covers off the binders so that people can see the coins easier? What is the maximum price you would recommend for coins in the binders? Any other ideas?

Thanks everyone! >>

Most important consideration is the value of the coins in the binders. My advice is, DON'T PUT ANYTHING IN THEM THAT YOU CAN NOT AFFORD TO LOSE. When I used them I began with a $50 max limit... I lost quite a bit of coins to sticky fingers...at one show, someone managed to swipe a whole page of Walkers...I still don't know how they did it.

Then when I brought it down to under $20 I found I was using alot of space for little value. Just wasn't worth it.

I know someone that operates much as you are describing... one case and the rest in binders. He does do quite a bit of business but has also been "taken" for alot of valuable coins.

Whatever you decide, I hope it works well for you.

au58 · December 26, 2008 3:05AM

I would do five things:

1. I would stick with the double row boxes and forget the binders. Binders take up too much room, can be hard to maintain, and can give the appearance of "low end".
2. I would fill a case with representative examples of the the coins you handle. I would choose the most eye appealing examples from each series or type until the case is full.
3. In the center of the case, I would put a small, black velvet pad. On the pad would be 10 or 12 very eye appealing coins (like the half cent on your web page).
4. Post a small sign that says "We have much more to see. Please ask."
5. I would say hello to everyone who comes by and ask if there are looking for something special or if you can show them something.

CertifiedGoldCoins · December 26, 2008 3:08AM

<< What is the maximum price you would recommend for coins in the binders? Any other ideas? >>

You might avoid having to price everything if you had one binder for $10 coins, another for $20, etc., sorted by type, date, mintmark and grade as you had them in boxes.

RichieURich · December 26, 2008 3:30AM

<< Here are some changes we are going to make:

1. Bring less coins and have them all priced. I am a one and a half person shop, and we just didn't have the time to have all coins priced. With the less coins, we should be able to keep up with the pricing of coins.
2. Instead of boxes, we are going to put most of the coins in binders. In the past, we would bring eight double row raw boxes for people to poke through. All of the boxes were sorted by type, date, mintmark and grade. We will now put coins in 20 coin sheets in binders.
3. Instead of two coin cases, we will now bring one case. The extra room will allow us to spread out the binders.
4. In our one case, half the case will have better, raw coins stored in 1.5"x1.5" holders. The other half will have certified coins.
5. Behind the table we will have a box each of better raw and certified coins that don't fit in the case. >>

Tim, I commend you for deciding to make some changes when results aren't satisfactory. I have some suggestions below, but an additional one is to monitor every change, some will work and some won't, and be ready to change the changes that aren't working.

1. I believe in pricing every coin on display. Otherwise it takes both the customer and the dealer too much time at your table. If there is a coin I would like to pay $400 for, if the marked price is $500, we might be able to make a deal, if it is marked $3,000, it won't happen. As a customer, I would like to know if I'm "in the ballpark" for a particular coin without having to ask the prices on a couple hundred coins. Coins that trade with bullion you might decide to not mark the holders but have a sign for the group (i.e. all Franklins $5.00 unless otherwise marked). You can easily change this sign as bullion prices change.

2. I'm not sure about binders. If you have a huge number of coins, they can work, but coins can disappear. Pages aren't bad, have you considered having loose pages in your case? "Bust halves? - - yes, we have 2 pages here we can show you." If you do use pages, make sure all the openings are filled and if you sell a coin, put in a "Sold" ticket. That way, a hole in a page means a coin is missing.

3. Cases - - I'm assuming most shows have 8 foot tables, which will hold 4 cases sideways or 2 longways and one sideways. It might sound simple, but I would always put out the coins on which I make the most money, and that are more likely to sell. You might ask yourself whether or not the binders are worth it - - if each coin in a binder represents 25c profit, that is $5 per page and with 20 pages, that is $100 profit if you sell all of them. Instead, why not put out 4 coins in the case each of which is $25 profit? It's the same potential profit, with a lot less work and you might decide to wholesale out the binder stuff so you can focus on the more profitable items.

4. The raw vs. certified coin mix is an important decision. It should be based on what your customers are looking for, and what coins you can obtain for your inventory. Slabbed coins take up 3 times the room vs. 1 1/2 inch holders, so they need to deliver more profit. So a slabbed coin selling for $100 on which you make $5 is a losing proposition.

5. Behind the table you will have "better raw and certified coins that don't fit in the case". In my business, I would add an extra case to put out better raw and certified coins, and sell off any generic stuff in the binders. That sounds more profitable to me.

You are a good and reputable dealer, and I wish you the best in whatever you decide to do.

VTCoins · December 26, 2008 3:50AM

<< I'd put out some type of case/display/whatever to put your more saleable bullion in. You'd be surprised how quick it will move in a show now and likely at a higher price than you're getting from your wholesalers. >>

This is a pretty good idea. I am usually running around before the show trying to get my wholesale stuff done, when I could be looking at dealer's inventory and sell the bullion later (if I don't retail it).

<< I do have binders, but keep them behing the table and ask what the person is looking for! If they need to see the binder ( which I have sorted by cents, nickel, dimes and Quarters) I try to sit with them while they have the binders. The problem with binders is coins can disapear too easly.
I don't normally price my coins, the market changes too fast, and I don't have a big enough eraser to take care of all the needed changes. >>

I'll probably keep some of the binders on the table and some behind the table. I think people can steal more easily from the double row boxes. Repricing the coins may be a bit of a pain, but I know that I have definitely lost some business from people who do not want to ask me for prices of coins.

<< Speaking as a low end collector I know the rare dealer at a show who puts prices on their coins will probably get my attention. I will also be more inclined to stay longer at your table and perhaps spend more. Most dealers wont give me the time of day once they see I am only interested in lower end coins. Thus pricing helps me to spend money, most shows I spend next to zero because of dealers being jerks, and other customers shoving me out of the way. I think the idea of putting a price on the coins is a very good idea. >>

I actually have a large inventory of "collector" coins, and sell a bunch of $5 to $50 coins. My thinking was I would sell more of these coins if they were all priced.

<< I'm going to play devil's advocate and say that two things I've always liked about visiting your table are that a) your boxes actually have good coins in them, and b) you price them on the spot. >>

Matt,

That has always been one of the frustrating things about the shows ... I bring really good coins and my sales have just not been there. I'm hoping a change of presentation might get some people to sit down and look at my wares. Not everyone realizes how quickly I can price coins, so with the prices listed, it will not scare away the people who are in a hurry.

<< Tim, I can tell you one thing that will help you, at least as far as I am concerned. Give us a list of the upcoming coin shows that you will be set up at. I always enjoy looking through your material whenever I see you at a show, but I haven't seen you much lately. >>

Steve,

The only shows that I set up at each year are the Albany, NY (ten times) and Burlington, VT (four times). I do walk around other shows, and the next show I go to in NH or MA, I'll try contact you and bring you some half dimes to check out. I always enjoy seeing you!

<< In my experience, it always seems to be the coin(s) I didn't bring that someone is looking for. Also, it is a good idea to have coins priced AND with some "wiggle" room... collectors (and dealers) tend to feel better when they get something "taken off" the marked price... as a matter of fact, on all but extreme rarities, they seem to expect it. >>

This seems to always happen to me too. Previously, I did not bring Memorial cents, Jeffersons, Roosevelts, Kennedys, etc. , but I plan to bring some of that material to future shows. People always ask for it. There will wiggle room on most of the priced coins.

<< 1. I would stick with the double row boxes and forget the binders. Binders take up too much room, can be hard to maintain, and can give the appearance of "low end".
2. I would fill a case with representative examples of the the coins you handle. I would choose the most eye appealing examples from each series or type until the case is full.
3. In the center of the case, I would put a small, black velvet pad. On the pad would be 10 or 12 very eye appealing coins (like the half cent on your web page).
4. Post a small sign that says "We have much more to see. Please ask."
5. I would say hello to everyone who comes by and ask if there are looking for something special or if you can show them something. >>

1. People just do not look through the boxes. I am lugging them back and forth, and having very little sales.
2. This is sort of what I plan to do. One concern I have, though, is that most if not all of the coins are valued over $150. I'm wondering if that scares people away that collect the less expensive coins.
3. Not a bad idea.
4. Good idea.
5. I try to acknowledge everyone that comes to the table and multi-task the best I can. There are times when I get overwhelmed, but I don't think I get crabby or rude.

<< You might avoid having to price everything if you had one binder for $10 coins, another for $20, etc., sorted by type, date, mintmark and grade as you had them in boxes. >>

Interesting idea.

Keep the thoughts coming everyone. We appreciate it!

coinnut · December 26, 2008 3:55AM

As a buyer I like the 5 suggestions by au58. I do like to see the prices on the coins and as far as binders go, I never look through them. I buy higher end coins and it's been my experience that binders are full of low grade, common material.

VTCoins · December 26, 2008 4:08AM

<< 

<< Here are some changes we are going to make:

1. Bring less coins and have them all priced. I am a one and a half person shop, and we just didn't have the time to have all coins priced. With the less coins, we should be able to keep up with the pricing of coins.
2. Instead of boxes, we are going to put most of the coins in binders. In the past, we would bring eight double row raw boxes for people to poke through. All of the boxes were sorted by type, date, mintmark and grade. We will now put coins in 20 coin sheets in binders.
3. Instead of two coin cases, we will now bring one case. The extra room will allow us to spread out the binders.
4. In our one case, half the case will have better, raw coins stored in 1.5"x1.5" holders. The other half will have certified coins.
5. Behind the table we will have a box each of better raw and certified coins that don't fit in the case. >>

Tim, I commend you for deciding to make some changes when results aren't satisfactory. I have some suggestions below, but an additional one is to monitor every change, some will work and some won't, and be ready to change the changes that aren't working.

1. I believe in pricing every coin on display. Otherwise it takes both the customer and the dealer too much time at your table. If there is a coin I would like to pay $400 for, if the marked price is $500, we might be able to make a deal, if it is marked $3,000, it won't happen. As a customer, I would like to know if I'm "in the ballpark" for a particular coin without having to ask the prices on a couple hundred coins. Coins that trade with bullion you might decide to not mark the holders but have a sign for the group (i.e. all Franklins $5.00 unless otherwise marked). You can easily change this sign as bullion prices change.

2. I'm not sure about binders. If you have a huge number of coins, they can work, but coins can disappear. Pages aren't bad, have you considered having loose pages in your case? "Bust halves? - - yes, we have 2 pages here we can show you." If you do use pages, make sure all the openings are filled and if you sell a coin, put in a "Sold" ticket. That way, a hole in a page means a coin is missing.

3. Cases - - I'm assuming most shows have 8 foot tables, which will hold 4 cases sideways or 2 longways and one sideways. It might sound simple, but I would always put out the coins on which I make the most money, and that are more likely to sell. You might ask yourself whether or not the binders are worth it - - if each coin in a binder represents 25c profit, that is $5 per page and with 20 pages, that is $100 profit if you sell all of them. Instead, why not put out 4 coins in the case each of which is $25 profit? It's the same potential profit, with a lot less work and you might decide to wholesale out the binder stuff so you can focus on the more profitable items.

4. The raw vs. certified coin mix is an important decision. It should be based on what your customers are looking for, and what coins you can obtain for your inventory. Slabbed coins take up 3 times the room vs. 1 1/2 inch holders, so they need to deliver more profit. So a slabbed coin selling for $100 on which you make $5 is a losing proposition.

5. Behind the table you will have "better raw and certified coins that don't fit in the case". In my business, I would add an extra case to put out better raw and certified coins, and sell off any generic stuff in the binders. That sounds more profitable to me.

You are a good and reputable dealer, and I wish you the best in whatever you decide to do. >>

Rich, I appreciate your comments in this thread. You have extensive experience from both sides of the table, so I definitely respect your opinion!

I really like your idea of having the binder pages stored in another case. This way, people will see that I do have a wide variety of coins (that are priced), and I can keep an eye on the pages much better.

Regarding raw vs. certified ... this is something I am going to have to look into. I sell a pretty good mix of both, but it seems to be more expensive slabbed and less expensive raw. But I sell more total coins that are raw than slabbed. I'll have to try this new format for a couple of shows and see how it goes.

In general, the coins in my case were $150 or more. My problem is that I have too many coins that reach that level for one case. So I was thinking that I would keep another box behind the table for better material that I can't fit in the case.

DRUNNER · December 26, 2008 4:27AM

Tim . . .

First, my perspective. I am primarily a collector. Higher end collector type coins and a eye-appealing (toners) low end stuff like Roosies and Jeffs since I can go quite a while without finding higher end that I can buy. I occasionally (2-3 times per year) set up at local shows to market my duplicates and also dispose of widgets that may be a bit unique. I use one table when I do, and have learned a lot from these Boards and local dealers.

Now . .

I tried binders during my first few shows and shared a table with an established dealer with double row boxes. Bottom line, he killed me. No one would even look through the binders (thought they were low end???) even though I had stunning stuff in there. I even planted a few (I was in 'right') like silver proofs below melt, etc. No one even noticed until I pointed them out to a dealer who promptly bought everything like that I had. Customers pored through his double rows and paid MORE, while my better stuff languished. I've since gone to double row boxes and I can't keep them stocked fast enough.

On pricing . . . I REALLY want to know up front whether or not I am in the ballpark when I want to buy. I don't mind a dealer updating a price a bit, but I hate looking at a 1909-VDB toner that should go for $50-$100 and having the guy have it unpriced, then asking $600. If a dealer is looking for the 'bigger fool', I don't want to be that guy. Price them up front. I use colored stickers, cut in half, that are removable. I also like the stickers as I can re-price from day-to-day if I think I'm high or low . . . I generally bypass any 'new' dealer who doesn't price his coins up front. I'm tired of the 'surprises'. I just don't find many guys who don't price them 'up front' who are very realistic when it comes turkey-talkin' time. There are too many coins and too little time . . .

Good luck with your changes . . . I think any business model that adapts and is responsive to the consumer is bound to succeed.

Drunner

ArizonaJack · December 26, 2008 5:01AM

Excellent thread, keep the advise coming folks, I could use some as well !!

VTCoins · December 26, 2008 5:41AM

<< I tried binders during my first few shows and shared a table with an established dealer with double row boxes. Bottom line, he killed me. No one would even look through the binders (thought they were low end???) even though I had stunning stuff in there. I even planted a few (I was in 'right') like silver proofs below melt, etc. No one even noticed until I pointed them out to a dealer who promptly bought everything like that I had. Customers pored through his double rows and paid MORE, while my better stuff languished. I've since gone to double row boxes and I can't keep them stocked fast enough. >>

I wish I sold more out of the boxes, but it just doesn't happen. The coins are not priced, and that may be the problem. I'm going to give the binder pages a shot.

mustanggt · December 26, 2008 5:55AM

I agree with the pricing desire. I have found that more people stop a take time to look when they see the prices on the coin. The prices need to have a little wiggle room perhaps but not too much. To much wiggle and the buyer may not think you will come down to the price he/she may want to pay. I usually price about 10% over the minimum I will take.

Some of your buyers are browers and want to spend much of the show camped at your table going through your binders and boxes. Unfortunately this may prevent someone with a limited amount of time from making a quick check of your visible inventory.

I too would like to know what shows you wil be setting up at in 2009.

Good luck.

SeaEagleCoins · December 26, 2008 6:01AM

<< 

<< I tried binders during my first few shows and shared a table with an established dealer with double row boxes. Bottom line, he killed me. No one would even look through the binders (thought they were low end???) even though I had stunning stuff in there. I even planted a few (I was in 'right') like silver proofs below melt, etc. No one even noticed until I pointed them out to a dealer who promptly bought everything like that I had. Customers pored through his double rows and paid MORE, while my better stuff languished. I've since gone to double row boxes and I can't keep them stocked fast enough. >>

I wish I sold more out of the boxes, but it just doesn't happen. The coins are not priced, and that may be the problem. I'm going to give the binder pages a shot. >>

Not having prices is a major problem with many, if not most, collectors. I've heard many complain that if it is not priced, then they think that the dealer is "sizing up" potential customers and will charge some more than others. Many on this forum have stated that if they do not see prices they simply move on... they won't even ask.

This is not to say that you do the "size up" thing... but there are dealers that do that... and for collectors it may be a case of "Pet a dog and get bit...you'll be less likely to pet another dog"...

Maybe the "dog" analogy wasn't the best to use in regard to coins... but you know what I mean... don't you?

coindeuce · December 26, 2008 6:32AM

Tim - I know that you have seen the eternal throngs of customers at Coleman Foster's tables at major shows. Try following his business model.

VTCoins · December 26, 2008 6:54AM

<< Tim - I know that you have seen the eternal throngs of customers at Coleman Foster's tables at major shows. Try following his business model. >>

Dan,

As you know ... I am amazed watching Coleman Foster work. That guy can juggle 14 different deals at once!

A few things that Coleman has that I don't have:

1. A ridiculously good memory. That guy probably has all of the different iterations of the grey sheet memorized for the last 20 years.
2. A large trustworthy staff. His wife and her sister keep an eye on things and help facilitate deals. There are also at least two other people running around for him and helping him out.
3. An ability to multitask like no one I have ever seen.

If he had a "Coin Show Cam" and was hooked up to a mic, he would have thousands of fans watching him online when he attends the big shows.

lathmach · December 26, 2008 7:19AM

When I'm at a show I make a circuit looking in the cases first.
Once I've been around, I go back and ask the dealers to look in their stock boxes.
I look through the binders as well, but I prefer the stockboxes. It's easier and quicker to look at the coins and put them back.
I always put them back in order.
Price your inventory. That's part of retailing.
It's irritating when a dealer doesn't have his stock priced.
What would your reaction be if you went into a grocery store and none of the food was priced?
So what if the store owner can quote you a price on any food item? Would you buy your groceries that way?
Bring your inventory to the show.
I boil over when I ask a dealer if he has something I'm looking for, and he says, oh I have a lot of those at my shop but I didn't bring them.
So I drove 200 miles one way to a show, only to be told the coins are back at the shop?
Okay, enough.

Ray

buffalohunter · December 26, 2008 8:18AM

if the price isnt on, most of the time when i ask its over priced. when i see a dealer that has his price on the coin it saves his time and mine..
for all the people who thinks they are the only person at the show..
who has all there paper work , cases and junk on the show ...cases get it off !! .... so no one can see whats inside ...
keep that junk off the show cases...
chairs ... get rid of them ...

silvergoldnut · December 26, 2008 8:47AM

I agree get rid of the chairs, its like trying to watch a movie with a BIG lady with a BIG hat.....if i can't see your coins because some guy is trying to unload his one brown box ike, see ya, next table.

i'll tell you what i liked was two dealers that were next to each other and helped each other, when one was helping another person the other dealer showed me that person coins, CLASS !!!!!

i bought coins off of both of them!!! great guys !!!

as for the binders ,i do not waste my time to look through them.

i like the boxes. BUT how about you try half the binders you were going to use and use some boxes. trail and error.

good luck and what shows do you attend?

golfer72 · December 26, 2008 9:36AM

The most important thing is BE AT YOUR TABLE!. Nothing more annoying than seeing coins you are interested in but no one to show them to you. Obviuosly everyone needs a break at times but I have swung by some tables several times and they remain unoccupied. Hard to sell coins when you are not there.

Mercury10c · December 26, 2008 10:20AM

If you really want to increase the traffic at your table, mark all your coins "FREE"

Bochiman · December 26, 2008 11:46AM

<< We haven't been selling a heck of a lot at the 14 coin shows we setup at each year. We generally buy a lot of coins from dealers and collectors and wholesale out our bullion, mint products, etc. to other dealers. But we have a lot of great, collectible coins that people are just not looking at.

Here are some changes we are going to make:

1. Bring less coins and have them all priced. I am a one and a half person shop, and we just didn't have the time to have all coins priced. With the less coins, we should be able to keep up with the pricing of coins.
2. Instead of boxes, we are going to put most of the coins in binders. In the past, we would bring eight double row raw boxes for people to poke through. All of the boxes were sorted by type, date, mintmark and grade. We will now put coins in 20 coin sheets in binders.
3. Instead of two coin cases, we will now bring one case. The extra room will allow us to spread out the binders.
4. In our one case, half the case will have better, raw coins stored in 1.5"x1.5" holders. The other half will have certified coins.
5. Behind the table we will have a box each of better raw and certified coins that don't fit in the case.

My goal with these changes is to be able to set up for the show quicker and hopefully present the coins in a more customer-friendly way.

Should we rip the covers off the binders so that people can see the coins easier? What is the maximum price you would recommend for coins in the binders? Any other ideas?

Thanks everyone! >>

I see that some dealers have given you their advice. When I go to shows, I am 100% a buyer/collector. Mind if I comment on what you posted and give you my thoughts?

1. Definitely have them priced. Have a little wiggle room in them as people do expect that. The more one buys, the more of a total discount would be good. If it is a low price coin ($5-$15) and just one is bought, maybe no discount is ok. Someone buying 5-10 of those would likely appreciate a few bucks off though.

2. I HATE the boxes. I do sift through them, when I have found nothing else, but then I am taking up a seat that someone else may be able to use and buy bigger priced items. I like the binders better. Easier to flip through (make them all the same denomination and maybe the same type (ie....Kennedy separate from Franklins completely separate from Lincolns)). I seldom see coins worth more than $50 in these and usually not much more than $20.
I think they can be stacked and take up less room than a bunch of boxes AND, if done right, people can stand and hold them at the side of the table. Also, harder to palm one into a pocket, I would think, as it is easier to see someone pop one out.

3. I would still do 2 cases and let the binders be on the side or looked at over half of 1 case. You make more on the case coins, right? Also, I prefer cases AS LONG AS THE DAMN COINS ARE PRICED. I am a quiet buyer...I don't like to be rude, I am not aggressive. If I don't see reasonable prices, I move on unless I am after one specific item. I am an impulse buyer and known to buy more than 1 or 2 things at a time.

4. Certified coins in 1 case and raw in another (the $50+) is cool. I like the ones that lay things out and stack like coins (ie... a stack of 1954 MS Franklins, a stack of 1955 MS Franklins, etc). Spacing is not that necessary if you have a lot of items. I often don't think to ask about things behind the desk because I am, like I said, not aggressive and an impulse buyer. Out of sight, out of mind = no money spent.

5. If you do put things behind you, have something (a piece of paper/sign/etc) on your case stating what is back there for the asking.

....don't rip the covers off the binders....looks cheap, imho, and I would prefer shopping/buying from someone who seems organized and not cheezy.

If you have a lot of great collector coins (type coins?), put a small sign out that says so....maybe put out a list. Prices on a list can be updated pretty easily....though, imho, you still need prices on the 2x2s. I bypass a lot of coins/dealers that don't have the pricing as I find them lazy or think they price per customer and I don't want to be the sucker to pay more. Give me a starting point in my mind so I have an idea on what I am going to think about spending.

BigE2 · December 26, 2008 1:27PM

Tim-
Man, it always seems like your table was busy every time I'd walk by or be doing business with Bill or Jenny next to you. What were all those folks doing at your table??

Here's my thoughts and observations from doing many years of shows with my Dad:

-Binders are a pain. But if you're gonna use them, get good ones(look better with the covers on) and use good pages.
-Binders take up a lot more space when opened on the table.
-Binders are HEAVY, try to keep folks from plopping the Half Dollar on on top of you glass case.
-You'll lose coins no matter what- so what $ can you accept losing?
-Make up a couple of small signs to put on the table "If you don't see it, PLEASE ask! I probably have it" is a good start.
-Try selling your bullion stuff yourself (especially now). Have it packaged for quick, easy sales. ($10 face 90% bags was always a good one for us)
-Pricing everything DEFINATLY helps. Looking a price up seems to put folks off.
-Don't sell supplies!

Tim, I've been looking over the responses others far more qualfied than me have made and have to add: try anything!

I look forward to you keeping us updated on what works for you.

Regards,
Bert

percyb · December 26, 2008 2:07PM

If you price your coins in pencil, you can erase and adjust the prices.

I like to see prices when I glance at a display or view a binder.

JTMac · December 26, 2008 2:59PM

notes from a noobie - collector

if you are not buying, raw or otherwise, make note of your neighbor salespeople so you can direct where your potential customer may go to sell. Nothing makes a good impression as much as someone who knows their neighbors. Saying something other than NO is a salesmans goal.

other than browsers, I think new collectors like to look, it helps educate, so binders and boxes are good for this.

I agree with getting rid of the chairs. Not only does it keep browsers there too long, I frown on the obstacle in my path and makes it more difficult to get your attention for a better sell in your case.

I like the previous comment on marking all coins FREE, but how about a practical giveaway. Make note of a couple free coins in your boxes or binders with a special pencil mark or something only known to you or on a sheet behind the table. If a customer picks out that coin, give it to them for free during the close of the sale,letting them know they have won! Perhaps only do this if multiple coins are purchased. I bet you'll receive additional sales. Mark their name, where they are from and coin on your LARGE "FREE GIVEAWAY" poster board prominently displayed in your booth on an easel.

silvergoldnut · December 26, 2008 10:48PM

thats a great point JTMAC

i was with my son at a coin show, he's 9, we were working on his jeff nickel set. when a dealer handed my son a nickel as we were walking down the line.

what dealer did you think we were buying from?

darktone · December 26, 2008 11:02PM

PRICE your coins is the #1 thing that would get me to buy from a dealer at a show. So many coins I would buy if I knew they were in my price range and so many more I would not waste our time to find out it more than I will spend. I know it's a job keeping up on pricing but it will be worth it. The next thing I would do is not let your friends sit at your table and take up your space- invite them behind the table to make room for buyers. Also don't let people set their briefcases on your tables. I don't know how many tables I pass up when a deaer has another dealer with his case opened up covering a complete case. Can these guy's be invited behind the table to do dealer transaction that take a long time and cover your inventory?

TwoSides2aCoin · December 26, 2008 11:38PM

~TwoSides2aTable~

edit to add :

I'm a novice at coin shows, having worked my first one this year. It was the 49th Annual Omaha Coin show. It was quite bustling with people. Without much of an inventory and no prices listed on anything, I set out to tackle my 'stage fright' , and pop my proverbial cherry, as it were.
As day one proceeded along, one of the regular dealers approached my table and said, "Gee, you sure seem to have a lot of folks around you, whatcha got that is so interesting ?" Not having much and feeling a bit intimidated by the direct question, I smiled and said, "personality, ...the widgets just came along for the ride". We laughed as he pulled out his loupe, putting on that serious face once again.
He started looking at Franklins, Walkers, Roosevelts and Winged Liberties in the binders and a few rolls I had there. There were also a few modern slabs and he didn't appear very impressed. Though he did take note of the PR 70 2007 Presidentials in PCGS plastic.

I obtained a want list and some phone numbers of potential customers by tapping into their reason for being at the show. I asked more questions of people passing by than I do of my own kids.

One little girl impressed me. She started rattling off all the Presidents. She was about 10 years old. I gave her and her sister a John Quincy Adams presidential dollar and she saw a Proof 69 PCGS graded John Quincy and said, "dad , would you buy me the John Quincy ?". Then she looked at me and said, "did you know that John Quincy Adams is the son of John Quincy ? "
If she were posting here, she would have more posts than me in a lot shorter time, that's a given. I couldn't keep up. I sold her dad the proof for $12.00, even though my investment into that was a little more money than that, it was so worth "giving".
I met two guys I affectionately dubbed Ron the VamGod and Jim the CoinGod. Both were cherrypickers I could spot from a mile away. Ron actually went to school with my sister but I didn't remember him too well except I wouldn't want to mess with him. He cherrypicked an 1878 longnock for $22. (cleaned, but still).

My net was a whopping $700 for the weekend and that was after the aforementioned dealer came back and bought a roll of mixed, 'problem free' Walkers from me. His words: "I just can't pass up a roll of good walkers at melt". Overall, it was a joy and am looking forward to doing another show. He told me his take wasn't as good as mine and he had a lot more stuff for sale.

At the end of day two, I realized I was missing an 1894 O Barber dime in FR02 condition. It was in a 2x2 inside one of them "binders". While binders are a nice way of displaying the coins, I would caution you to put tape over the top slots, or keep a very close watch over keys or high grades. Too many people around can also present potential problems.

I've much to learn about having fun with coins, but I got it down with people

Wishing you great success in the new year, Tim,

Joe

P.S. If you have any new dansco 7070 albums, PM me. (gold pages preferred)

VTCoins · December 31, 2008 1:07AM

<< i'll tell you what i liked was two dealers that were next to each other and helped each other, when one was helping another person the other dealer showed me that person coins, CLASS !!!!! >>

I'm lucky that the dealers on both sides of me at the Albany show are great guys, and we help each other out all the time.

<< Man, it always seems like your table was busy every time I'd walk by or be doing business with Bill or Jenny next to you. What were all those folks doing at your table??

-Binders are a pain. But if you're gonna use them, get good ones(look better with the covers on) and use good pages.
-Binders take up a lot more space when opened on the table.
-Binders are HEAVY, try to keep folks from plopping the Half Dollar on on top of you glass case.
-Make up a couple of small signs to put on the table "If you don't see it, PLEASE ask! I probably have it" is a good start.
-Try selling your bullion stuff yourself (especially now). Have it packaged for quick, easy sales. ($10 face 90% bags was always a good one for us)
-Pricing everything DEFINATLY helps. Looking a price up seems to put folks off.
-Don't sell supplies! >>

Big E,

A lot of the times, people at the table are selling coins or just asking questions. They also may be dealers/friends just stopping by to say hello.

Your advice is pretty darn good. What I am going to try first is to have the binder pages attached together by rings (no binder), and see how that works. The room on the table is finite, so if people can open up the sheets and and wrap them around the back instead of opening the cumbersome binder.

<< If you price your coins in pencil, you can erase and adjust the prices. >>

That's our plan.

<< i was with my son at a coin show, he's 9, we were working on his jeff nickel set. when a dealer handed my son a nickel as we were walking down the line. what dealer did you think we were buying from? >>

I always try to talk with the young collectors. They are the future of the hobby. It can be hard at times if I have other people at the table.

Advice on Coin Show Setup

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