Options
Advice for a first time dealer
Halfhunter06
Posts: 1,332 ✭✭✭
This March I will find myself on the other side of the table at a local coin show. What advice would you give a "first timer"? Anything i should be concentrating on? Thanks Guys
0
Comments
negotiate at least a little.
JT
I collect all 20th century series except gold including those series that ended there.
Also, if you are doing it alone, as I do, you have to watch out for people taking coins. It happens, and if you don't watch them and their hands like a hawk, it will happen to you. It is tough to take a break while being the only person.
But - have fun and talk with the other dealers. They are a good source of information, and will eventually warm up to you.
Bring windex and paper towels. Those glass cases get smudged up pronto.
Know your inventory so you don't have to look much up.
Have enough change as you can't count on the customers to have it.
Be prepared to be fresh meat. Seasoned dealers will descend on you like sharks to see if you have anything interesting and try to pick you for peanuts at the beginning and at the end of the day.
Don't show too many coins simultaneously.
If there is a sales tax requirement for coins where you are, make sure you have the required seller's permit and that you collect tax as applicable. I know most dealers will say to forget this. Really depends on where you are, the laws, the day of the week, and how aggressive the state revenuers are.
Have fun and relax.
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
<< <i>Also, if you are doing it alone, as I do, you have to watch out for people taking coins. It happens, and if you don't watch them and their hands like a hawk, it will happen to you. It is tough to take a break while being the only person. >>
Definitely. I know of a case where a dealer got slight-of-hand ripped off big time before. Showed an expensive Morgan dollar to the person. It was handed back and the dealer put it back in his case only to realize minutes later, to his horror, that the coin returned was a much more common one. Same date, different mint mark, same grade and same look. Always look at what you get handed back.
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
To support LordM's European Trip, click here!
Here's one thread
IMO the best thread on this topic
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>If you don't keep all of your inventory in the glass case or elsewhere on the table, please let your customers know as they pass by. Sometimes they are looking for specific items that you could easily have with you at that time, but not visibly. >>
And be careful about waht you keep on your backup table. (Know the dealer on the other side...with an adjacent backup table.)
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member