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First Coin/Antique Show: What Should Be My Strategy?

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Superhal's Avatar
United States
315 Posts
 Posted 10/04/2013  6:53 pm Show Profile   Bookmark this topic Add Superhal to your friends list Get a Link to this Message Number of Subscribers
<Sorry if this was the wrong forum, please move as necessary.>

I'm going to a show this weekend. It is a combined antique/collectibles show, and I know at least 3 coin dealers will be there. The way this show works:

1. Doors open at 8:30 am, but tickets to get in at 8:30 are $14.
2. Tickets drop to $4 if you enter at 10:30.

I'm tempted to gamble on the 8:30 opening.

However, my thoughts are if I do find something great, there has a to be a perfect storm of:
1. The dealer either made a mistake or is so incompetent that they didn't know the value of what they had,
2. Nobody gets there before me, and
3. I have enough on hand to make the purchase and the knowledge to identify the item as a real value.

*** Moved by Staff to a more appropriate forum. ***
Edited by Superhal
10/04/2013 6:54 pm
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BStrauss3's Avatar
United States
4592 Posts
 Posted 10/04/2013  7:55 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Chances of most of those are pretty small and usually the dealers check each other out during setup.

Basic rules

1. Know what you want and how much you are willing to spend and what it SHOULD be priced at.

I want an X, it should be in condition Y, price guides say A to B, so I'll go up to C.

You may want to bring a little book with your notes in it, and don't be looking for "something" - the choices will overwhelm you.

2. Know how to grade what you are looking at. Bring the book, have the app on your phone. Dealer gives you a hard time, move on. Yes you are double checking his 75 years in the business, it's my money and I'll do it or bleep you.

2a. Spend time to really look at the coin. Get past the first "oooooh" and look for dings, scratches, etc. Bring a loupe to really look.


3. If you don't get what you want, don't over pay - there will always be another opportunity. At least it doesn't sound like you or I are buying the 1913 Liberty nickel that comes up for sale once in a generation.

-----Burton
50+ year / Life / Emeritus ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club
Owned by three cats and a wife of 40+ years (joined 1983)

Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/
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Tim Stroud's Avatar
United States
2661 Posts
 Posted 10/04/2013  8:27 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
The main thing is to enjoy the day and have fun.
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noahs-numismatics's Avatar
Canada
3167 Posts
 Posted 10/04/2013  9:57 pm  Show Profile   Bookmark this reply Add noahs-numismatics to your friends list Get a Link to this Reply
Woah! $14 just to see the inventory of 3 dealers?
Did I read that wrong?
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Superhal's Avatar
United States
315 Posts
 Posted 10/04/2013  10:04 pm  Show Profile   Bookmark this reply Add Superhal to your friends list Get a Link to this Reply
There's a lot of other vendors too, it's a combined show. :)
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D0ubl3Eagle's Avatar
United States
5854 Posts
 Posted 10/04/2013  10:46 pm  Show Profile   Bookmark this reply Add D0ubl3Eagle to your friends list Get a Link to this Reply
If there are dealers that I feel have a good chance of having something that I would be interested in, I may be willing to buy the early bird tickets if they're not too pricey but otherwise I just get the regular tickets. A lot of buying and selling happens during set up and it is likely that many of the bargains have already been snapped up by more knowledgeable dealers. Most importantly, have a good time. Let us know how it goes.
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Joe2007's Avatar
United States
3843 Posts
 Posted 10/04/2013  10:49 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
Remember that most dealers are wary of credit cards due to the fees associated with them and only take checks with good references.
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Superhal's Avatar
United States
315 Posts
 Posted 10/04/2013  10:52 pm  Show Profile   Bookmark this reply Add Superhal to your friends list Get a Link to this Reply
I don't think the major dealers in my area will be there. From the craigslist ad, it looks like the three are primarily online and ebay businesses.
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sel_69l's Avatar
Australia
21788 Posts
 Posted 10/04/2013  11:01 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
1. Take cash only to enforce your budget. That will also induce you to look for 'best bang for your buck'.

2. Have a look around the whole show, in detail, without buying anything. Make a mental note of anything that interests you.

3. Sit down have a cup of coffee, or eat the lunch you have prepared for yourself the evening before. Talk with other people while you are having lunch. They may be able to give you a few more clues about anything numismatic.

4. Go back to those dealers and items that caught your interest, and negotiate.

If you are visiting from out of town or State stay with relatives, or hole out at a backpackers or YMCA.
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nalaberong's Avatar
Canada
2805 Posts
 Posted 10/04/2013  11:36 pm  Show Profile   Bookmark this reply Add nalaberong to your friends list Get a Link to this Reply
I like to look through world coins, because at shows dominated by U.S.A. and Canadian inventory, good deals are much more likely to slip through the cracks! I have found large silver world coins for below melt value in 2x2s - they might have been priced under 2003 silver prices, and then tucked away for 10 years, all but forgotten...

Plus you can get a huge variety of good coins (and silver too) at a low price. It's addictive - I've slowly been pulled away from collecting Canadian coins... (I don't have the budget for the really good ones :P)
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United States
20753 Posts
 Posted 10/05/2013  6:55 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Go to the later one. Save your money. If only a few sellers, they know full well not mubh competition so their prices are going to be excessive. And then too, you'ld have to add $14 to the price of anything you buy. By me all such shows are free. Flea markets usually charge a half to one dollar and usually a few coin dealers there. If I were you I'd just pass on this show.
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Superhal's Avatar
United States
315 Posts
 Posted 10/05/2013  7:51 pm  Show Profile   Bookmark this reply Add Superhal to your friends list Get a Link to this Reply
@nalaberong:what are some good commons to look for? I'm thinking about 90% if possible.
Edited by Superhal
10/05/2013 7:52 pm
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nalaberong's Avatar
Canada
2805 Posts
 Posted 10/05/2013  10:56 pm  Show Profile   Bookmark this reply Add nalaberong to your friends list Get a Link to this Reply
Common silver coins? Write these down (there's no shame in checking your notes):

France (5 francs only): 1969 and earlier
Canada and Switzerland: 1967 and earlier
U.K.: 1946 and earlier (50% silver), 92.%5 silver is 1918 and earlier
Mexican new peso: 1995 and earlier coins of 10 pesos and up have 92.5% centers. Many people don't know this - ask to see new pesos! All coins of 20, 50, or 100 new pesos are desirable.
Italy: All monometallic 500 lire coins - more common are the bimetallic coins resembling 2-euro.
Spain: 100 pesetas with Francisco Franco
Austria: Depends. 10 schillings - 1973 and earlier. 5 schillings - 1968 and earlier. A smaller fraction of 1968 5 schilling coins are copper-nickel, but these had a low mintage and may be worth more than the silver ones.
Australia: All non-copper pre-decimal coins, with the same 92.5%/50% silver dates as the UK. Also look for decimal 50-cent coins that are round, not 12-sided. (How to spot a pre-decimal coin? Decimal coins have 1, 2, 5, 10, 20, 50 on them. Predecimal coins have words for denominations.)
Eastern Europe: Most post-Soviet countries have two kinds of coins: those issued before annexation in the 1920s and earlier, and those issued after 1989. The pre-Soviet coins are always worth buying, silver or not.

The more world coin bins you look through, the better sense you get of what's worth it, silver or not. Copper-nickel has a darker kind of look to it, but it still fools me a lot of the time - on the other hand, I have found over 2 ounces of silver from junk bins at one store alone. A local coin show is coming up in November, so I plan to be the terror of the bargain bins, even if it means caking my hands in a layer of international black dust with a measurable thickness. (Don't bring hand sanitizer, bring a tub of wet-wipes.)
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Superhal's Avatar
United States
315 Posts
 Posted 10/05/2013  11:04 pm  Show Profile   Bookmark this reply Add Superhal to your friends list Get a Link to this Reply
Rock thanks. :)
Valued Member
Superhal's Avatar
United States
315 Posts
 Posted 10/06/2013  9:25 pm  Show Profile   Bookmark this reply Add Superhal to your friends list Get a Link to this Reply
I'm back from the show. :)

It was kind of disappointing, virtually no deals. The best deal I found was junk silver at 16.50 per $1 face. One guy had foreign coin grab bags, but nothing old or silver. A few of them kind of just gave up, and listed their prices as melt + $x. Maybe two or three items total were gold at melt.

But, I did buy some scrap sterling bowls and spoons. The bowls I got a really good deal on, like $1 under spot per ozt. I also bought some spoons but they weren't as good a deal, I think I paid $1/gram on those. But, averaged together, I came in right at spot, like 65 cents/gram.

My usual coin guy was there, but he had updated all his prices. it's funny to see all the scratched out prices on the 2X2's. :D

The advice I got in this thread that worked was looking for the old tags, thanks. :D

I can't believe how hard it is to buy gold. Almost everybody is selling 14k jewelry at a minimum of $50/gram ($20/gram would be melt.) Still, watches seem to be the best deal, but it's pretty risky when you can't see the mark on the band.
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Superhal's Avatar
United States
315 Posts
 Posted 10/07/2013  12:13 am  Show Profile   Bookmark this reply Add Superhal to your friends list Get a Link to this Reply
Today's haul, 308.7 grams of sterling, mostly .925 except one of the spoons...lighter crashed the picture because I wanted to try the silver polish on it. About 65 cents gram silver (only silver, not alloys).

First-Coin/Antique-Show:-What-Should-Be-My-Strategy?

My testing kit is coming this week, then I can really see how I made out. The spoon on the far left looks iffy.
Edited by Superhal
10/07/2013 12:18 am
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