Portland, Maine Show Report from the Other Side of the Table
Barndog
Posts: 20,515 ✭✭✭✭✭
I started this show report with a picture, since this show report is unlike any I have written before. As some of you may now, I've been selling coins for my brother for the past three months (he's paring down his collection to focus on late date large cents). I've used BST, eBay, local B&M shops, and other outlets to sell his coins. When I saw MrHalfDime post about his coin club sponsoring a coin show on March 20th in Portland, Maine, I thought that might be an opportunity to sell off most of what remained in my brother's collection. I contacted MrHalfDime and secured a bourse table (lucky for me, he was the bourse chairman, so I got a nice table…the first one near the door…since a regular dealer at the show couldn't make it to this show).
In preparation for the show, among other things, here's what I did:
-Contacted "Meltdown/Matthews" for some advice (he recently ventured onto the other side of the table so I felt his experiences would be fitting to my situation). I got some great advice, the best of which was "have everything priced before you get there." It was a lot of work to do that, but it made showing and selling coins very, very easy. There was no need to refer to pricing references to determine my sell price.
-Borrowed a showcase and light from MrHalfDime and bought a showcase for myself. Having two showcases and two lights (I used one of my desk lamps for the second light) made my table look somewhat professional, at least I think so.
-I kept a running list of things needed for the show. As I obtained each item, I set the items aside. Things like magnifiers, pens, notebook (to record sales), calculator (came in very handy for sales of bullion items), cash (to make change for customers), and the like went on the list, then got set aside.
-I made some purchases on ebay and the BST for things I thought needed to "salt my cases" with things that would get customers' attention. I purchased a nice Classic Head Large Cent for the show (it sold), a problem free 1921 Mercury Dime (it sold too), and a number of other things just as attention grabbers. Most of the things I purchased for this purpose sold easily. Others took a few tire-kickers before selling. I figured if a variety of coins were present, I would be more likely to have someone stop to browse.
-I recorded the closing prices for silver and gold at Friday's close, as those would be the prevailing market prices during the show. These came in very handy more than once!
-I packed all of the items for sale into two bags: one carryable duffel bag and one backpack. That allowed me to carry the dealer case in my other hand and limit myself to one trip from the car into the bourse…I'm security conscious.
I left home at around 5:00 AM for the approximate two hour drive to the show. Good weather and good roads made for an easy trip. MrHalfDime was already there when I arrived, so he showed me to my table and I began to set up. Having prepared well, I found it easy to set up the way I wanted. Dealer to dealer transactions before the show opening at 9 AM were light. The dealer right next to me was a pleasure to talk to and learn from (he lurks here!). He made some fair offers on some of my "straggler inventory" toward the close of the show that worked out for both of us.
Customer traffic increased around 9:30 and I had a steady stream of people at my table. I engaged each in light conversation (Meltdown gave me that good piece of advice too) and it seemed to help people linger a bit longer and maybe find something to buy. Sales were slow, but steady. About mid-morning I had one dealer find my table and buy a very large quantity of coins from me…my biggest sale of the day!
Hotel staff brought around a lunch menu, so I got to eat my lunch behind the table. I don't know how you dealers do this day in and day out. That would get OLD very fast for me!
Afternoon traffic was steady up to about two or so. Around three in the afternoon, most people starting breaking down their tables and packing up. I took the hint slowly, waiting for my neighbor dealer to start taking apart his table before doing the same for mine.
I had hoped that my wife could accompany me to the show, but she could not. Fortunately for me, when I needed to take a restroom break, MrHalfDime graciously sat at my table for me. Having a second person or a trusted friend at the show is essential.
In a nutshell, I had a great time! Interactions with customers was very positive. Other dealers were quite helpful and friendly. Sales were steady. It was nice to provide people with coins that they were interested in owning. I wish I had time to walk the floor looking for coins for myself, but I did not. Nonetheless, when MrHalfDime asked how the show was for me, I told him without hesitation, "This has been my best show ever!" We chuckled.
Many other dealers reported very good to excellent sales. I was pleased to be part of a successful show.
I got to meet a few lurkers too. I also finally met YellowKid (he is not yellow, but I do think he's a kid at heart regardless of how many years he has been around). MrHalfDime and I got to have dinner together after the show. A great time to talk about coins and family. A couple hours after dinner I was home and T-I-R-E-D! I am not fully recovered.
Will I do this again? I think maybe, but not any time soon. I sold most of my brother's coins. I still have more, but will keep plugging away via other venues to sell them. I think I would need another six or twelve months to buy nice coins at fair prices in order to prepare for a show. I don't do this for a living, so I don't hunt down good coins every week. I had fun and think I could do this again at a small show some time in my future.
As a final point, I will have you know I stayed security conscious after the show. It took me just one trip to bring all my stuff out to the car. I put everything into the trunk. At dinner, I took my bag of "stuff" into the restaurant with me. I have read enough here to know these are good things to do. Suffice to say, it would have been a bad idea for someone to try to rob me.
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Comments
I presume MrHalfDime will soon post all of his cherrypicks that you couldn't find because you were working behind the table.
The best "collector-turns-dealer at least for one day" show thread since the DRUNNER one a couple of years ago!
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>I presume MrHalfDime will soon post all of his cherrypicks that you couldn't find because you were working behind the table.
Did it just get cold in here?
I've often wondered why some of the posters who frequent this chat room who constantly complain about dealers (mark-ups, attitudes, etc.) don't set up for themselves. In this business there are absolutely no barriers to entry, and it is a completely free market.
Such posters are very few in number, but they are often quite vocal. I think doing as you have done offers valuable insight into what it takes to do that job on a regular basis.
Coin Rarities Online
Drunner
( ". . . and she's buying a stairway, to Doilies.")
Sounds like quite the adventure. Glad you enjoyed yourself!
Me, I'm still 'assisting' dealers at shows, haven't manned up enough for my own table yet.
EAC 6024
Barndog is too modest to mention, but he was particularly accommodating with kids and YN's that came up to his table. He took the time to explain the hobby, answer questions, and even hand out a few free goodies to the kids. As a coin club sponsored show, we try to encourage this type of behavior from our dealers, and Barndog certainly set a good example.
And to answer RichieURich's question, no, I did not run around the bourse floor and grab up all of the half dimes. I was running the show, as bourse chairman, and was more or less tethered to the club table or doing some other club business, so I never had a chance to work the floor. Of course, one of the great advantages of being such an old hand in a narrow specialty, if there were any nice half dimes to be had at the show, they almost certainly would have been set aside and brought to me.
Perhaps the greatest pleasure, at least for me, afforded by this wonderful hobby is the camaraderie of all the wonderful people who share the hobby. I thoroughly enjoy the socialization with fellow collectors and dealers, and especially enjoyed the apres show dinner and drink with Barndog, over a conversation involving families, hobby and many other topics. All in all, a very enjoyable day.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
The Penny Lady®
Click on this link to see my ebay listings.
<< <i>Nice report Barndog! You should have put your Classic Head Cent set in the case too. I think that would have kept people looking for a long time. >>
That is a great idea. If I do this again, I will have to bring that set along with the dreaded "NOT FOR SALE" sign!
<< <i>I think doing as you have done offers valuable insight into what it takes to do that job on a regular basis. >>
Indeed. My one day experience, plus knowledge from discussions with and observations of full-time dealers is that there is no way in this world that I would want that kind of schedule and all of the associated unpleasantness (the food, the hotels, the loss of luggage, the constant attentiveness to security, etc).
<< <i>PLEASE tell me you didn't dribble and stain your shirt, like I have seen on so many >>
As I am not a fan of condiments, there was no worry.
<< <i>I presume MrHalfDime will soon post all of his cherrypicks that you couldn't find because you were working behind the table. >>
As it turned out, neither MrHalfDime nor I had the chance to walk the floor to see what was available. I made one purchase just before packing up: a 2011 Silver Eagle for my album. All I have to do now is figure out where I keep that album in my home and my set will be up to date
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
AB
One minor point re: security.
DO NOT PUT COINS IN THE TRUNK OF YOUR CAR WHEN DRIVING.
1) You can get rear-ended by accident and your inventory is now trapped in the trunk.
2) It can happen on purpose too, but the thieves will be prepared. In most cases there will be the "crash" car and another which traps you in the breakdown lane from up ahead. This latter happens very rarely. Why take the chance?
Thanks for the report! Glad the show went well for you. Steve and the Gorham Coin Club always do a top-notch job.
The only (minor) comment I'd make about your table setup would be that you might want to turn your far case around 180 degrees, so that it opens toward the center of your table, rather than the end. It's easier for you to get into that way, and not so easy for sticky fingers to make off with something unnoticed. (Not that we have those problems in crime-free Maine.
Again, thanks for posting.