I went to the Whitman Coin & Collectibles Expo in Atlanta today. There was a huge selection of coins & notes, lots of things I had only seen on the net or in books. In general, the dealers were friendly & the selection couldn't have been better. I went with about $700, & fully intended to spend it all. In fact, I had been waiting impatiently for this show for about 3 months.
I can already hear the chant...."Pictures, Pictures, Pictures". Well, except for a lone
Mercury dime, an XF with a hint of rainbow toning on the obverse, I came away empty handed. There was a lot of buying/selling going on, most of it between the dealers with the booths & the dealers walking around carrying briefcases & boxes, or dragging carry-on luggage. From what I overheard prices were all based on greysheet bid/ask prices.
Everthing I asked about I was quoted prices that were way above greysheet. Now, I understand that people have to make a living, & that they have expenses, but the markups were ridiculous. I was being quoted prices for raw coins that rivaled what I could buy PCGS slabs for on
ebay.
I asked one guy how his prices related to the greysheet. He said he had to make a living, & wanted 15% above ask. Then he shows me the greysheet for the coin I am interested in, & proceeds to quote a price of 65% above the ask. I guess I should have the big red MORON tatoo on my forehead removed.
Posted 10/14/2007 10:45 am
