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 Replies: 12 / Views: 1,578 |
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Pillar of the Community
United States
2200 Posts |
I've never been to a coin show. I was wondering if the prices there are generally lower, higher, or the same compared to what you might find at a store or on the Internet. Thanks.
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Moderator
 United States
23522 Posts |
They'll be the same as the prices you'll find at a store or on the Internet - wildly varied, from "downright ridiculous" to "pretty darn reasonable, c'mere, wallet." The same people are selling them, and it depends on the people. Your only protection is knowing the appropriate price for what you're buying.
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Moderator
Australia
16817 Posts |
Dealers generally don't waste time re-ticketing their stock just for a show, but you will probably find that the dealers at shows are more willing to haggle and to give bigger discounts than they are back home in their shop. After all, their competition is right there only a few metres away, rather than way over on the far side of town. And every coin they sell at the show is a coin they aren't going to have to lug home again; that's extra motivation for them to sell as much stuff as possible.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Bedrock of the Community
Australia
21786 Posts |
The best way to take advantage of the variation in pricing (as mentioned above), at coin shows is to visit ALL of the exhibits, and keep a mental record of what interests you, of which pricing is a major part.
Don't commit to any purchase until you have seen the whole show. Just commit to memory.
Sit down, have a coffee, then go back to those items that found interest, and start negotiating.
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Valued Member
United States
477 Posts |
I visited my first coin show yesterday. I'm new to this too but I've been looking at ebay and on line brokerage houses prices for about 8 months. I thought ebay was a bit high but after visiting the show it's actually a bit higher. Admittedly I didn't try to haggle, hate it, but I did offer to buy some coins with Silver Eagles but they'd only give me spot for them. But worth much more was the knowledge I gained in a couple of hours. Everybody was friendly and helpful and answered my newbie questions with respect. Even if I hadn't bought anything it was worth the 100 mile round trip just for the learning experience. Rick |
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Bedrock of the Community
United States
20753 Posts |
Coin show prices are highly variable. So much depends on many things people seldom realize. For example at the upcoming show in Chicago, table rentals are well over $500. Some in the thousands. Food, beverages, hotel rentals are all excessive in that area. This means dealers must really make a good profit on sales to cover all that. Many dealers come from out of town so transportation too is now a f actor in their prices. Therefore, high prices on coins. At many of the smaller coin shows I go to, table rentals are $50, food is decently priced, many dealers are local so don't need a hotel. This means a dealer can charge less for coins. If the coin show is in an expesive area, also, coin prices tend to be a bit higher. Less frequently traveled locations also may tend to make dealers lower their prices.
Show attemdance too can create price differences since a poor turnout, can make dealers either raise or lower prices.
I go to about 2 to 4 coin shows a Month and I have found a coin shows in an average area, with about 30 to 50 dealers is the best for prices. Also, in a show where dealers are repeats, you get to know them and they get to know you so again, prices can come down. I've never found prices on line or at a coin store that can compare with a coin show.
And I love the ability to ask a dealer to look out for a certain coin for me and they do.
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Valued Member
United States
461 Posts |
shootnstarz, did you go to the foley show?
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Pillar of the Community
United States
1200 Posts |
As said above, you'll see the full range from the ridiculous to the sublime. I've seen prices that made me wonder about the dealer's sanity and
I can also remember specific items from a year ago that I'm still kicking myself for not having bought on the spot without even trying to haggle.
These two extremes were at the same show and within 50' of each other.
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Pillar of the Community
Canada
519 Posts |
What I noticed with my little experience is a lot can depend on what the dealer likes or focuses on. Lets say I go to "Joe's" table and Joe knows everything there is to know about ancient Roman coins. You're never likely going to get a screaming deal on a Roman coin from Joe, but you won't get a fake either. You'll also likely get a large selection and the dealer's knowledge which really does have value. On the other hand, Joe may have some coins kicking around in his junk bin that other dealers would have in 2x2's for way more. Then there are dealers who have items they don't know a lot about but they also paid way too much/are asking way too much for them.
You should try to negotiate though. It's like anything else in life, the more you do it the easier it becomes.
Try something easy like: "What's the lowest you'll take for this coin." If you're comfortable with how they respond then take it. You're likely just paying what the dealer was expecting to get anyways, if not a little more.
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Valued Member
United States
477 Posts |
"shootnstarz, did you go to the foley show"?
Yes I did, got there about 1000 and left at 1230. Spent $90 on silver Ikes.
Rick
Edited by shootnstarz
08/13/2013 09:52 am
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Valued Member
United States
461 Posts |
Rick. Its a good little show. I didn't make it this past time because of work. I heard it did not have the normal traffic...
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Bedrock of the Community
United States
20753 Posts |
One more thing about coin show prices is how a dealer sizes up a potential customer. Maybe not fair but most do. They sort of look to see if they know you, if they think you can afford a higher price, your age and other things about your appearance. Might not be right but just human nature.
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Valued Member
United States
477 Posts |
No problem there Carl, I look as poor as a church mouse.
Rick
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Replies: 12 / Views: 1,578 |
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Posted 08/11/2013 6:31 pm
