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Flea Market Coin Dealers

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Joe2007's Avatar
United States
3843 Posts
 Posted 03/21/2015  9:55 pm Show Profile   Bookmark this topic Add Joe2007 to your friends list Get a Link to this Message Number of Subscribers
I have fond memories of my grandfather setting up at a flea market when I was growing up. It was at the county fairgrounds and was held 8 times a year from April to October on Saturdays and Sundays. It was quite affordable only costing vendors $6 (one day) or $12 (two days) for the outside spots which were spacious with enough space to have a number of tables and large enough to also park your vehicle and trailer behind your merchandise. Also there was no entrance or parking fees for patrons which ensured that the flea market was incredibly popular and had a lot of foot traffic. When I was growing up it wasn't uncommon for there to be 300-400 vendors set up making it a collectors paradise.

My grandfather sold mostly antique tools but also had a large selection of antique glassware, pottery, and a bunch of other stuff that he had picked up cheap at auctions that he though he could make a profit on. It was fairly profitable, although not particularly so, since some stuff didn't sell well and people wanted bargains. I expect he was making $500-700 over the two days after the cost of the merchandise and other costs such as the fee payable to the fairgrounds for the spot, costs to maintain the vendor's license, and to pay an accountant to handle the taxes.

I was wondering if any of you frequented coin dealers who set up at flea markets and whether it was a good arrangement for them. I think that it could be since the costs to go into business would be minimal especially if the vendor lived relatively near a popular flea market. The downsides would be security issues, possibly not enough advertising, and the fact that most flea market goers are looking for a bargain and are less likely to pay full retail for an item.

Might have to be something to try in a decade or two when I can finally get out of college and into a stable career. By then I'll probably have a lot of pruning to do in my collection.
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CSOTUS's Avatar
1153 Posts
 Posted 03/22/2015  09:33 am  Show Profile   Bookmark this reply Add CSOTUS to your friends list Get a Link to this Reply
Flea markets today don't get the foot traffic they got during your grandfathers time. However, that said there was a huge flea market this weekend in my home town and it was very busy, but, I think the vendor fee was pretty high.

I think coins would sell as long as you didn't mark them up high. Of course everyone wants a deal, just make sure you cover the vendor fee and what you feel your time is worth.
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Bryan78's Avatar
United States
1068 Posts
 Posted 03/22/2015  09:54 am  Show Profile   Bookmark this reply Add Bryan78 to your friends list Get a Link to this Reply
Most people selling coins in flea markets that I have been to wanted a fortune for their coins so I just looked and moved on... I did pick up a rough Morgan dollar once for less then scrap value at one but when I asked how much she wanted for the Mercury dime she wanted five bucks so I said "No Thanks". The funny thing is she knew she messed up on the Morgan but I wasn't going to offer anymore then what she said...
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AcesKings's Avatar
United States
1627 Posts
 Posted 03/22/2015  09:58 am  Show Profile   Bookmark this reply Add AcesKings to your friends list Get a Link to this Reply
I have a few flea markets around me. Each has at least one coin dealer set up every week. Most of those dealers are familiar enough with me that I'm able to walk up and open up their case without asking first. Of those, there are the ones I frequent more than others, either because of prices or the coins they typically handle. The thing I watch out for most from these dealers are cleaned/problem coins. Just seems to be a problem with that "type" of dealer.

At the one flea market there's an older gentleman (80s or so) that seems to be trying to sell off his collection before he passes. Most of his stuff is NGC certified and generally priced well for what he has. If my son didn't collect coins, I'd probably try doing the same thing when my time starts looking eminent.
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westernsky's Avatar
United States
7617 Posts
 Posted 03/22/2015  10:24 am  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
I started out at a flea market in Texas in the 1970's. The weekend rent was less than 10$ from Friday to Monday. When I stopped doing it, my Dad took over my spot and continued doing it well into the 1990's. When he finally gave up the spot it was costing him around 70$ a month for the weekend. He enjoyed it to the fullest and it gave him something to look forward to every month.

I made a lot of friends at the market over the years and learned a lot. As far as I know nothing ever got stolen from me. Got some good deals on all kinds of stuff. My favorites were a bunch of antique (1930's to 1950's) penny gum ball machines for 3$ each (with keys!) and a cigar box full of AU/UNC Walking Liberty half dollars at 5x face! (At that time dealers in the big city were only paying 3 to 4 times face for silver coins!). I still have one of the gum ball machines. The Walking Liberty half deal took every penny I had that weekend. I actually had to borrow some money from my Dad to finish the deal and to have a few dollars till the next payday! I used some Jewel Lustre on the Walkers and sold them the next few months for 8 to 10$ each! Most were dated in the 1940's. I think the earliest I got was a 1936-P. It was some fun times!

The last time I walked through the flea market it was mostly nothing but "new junk" from China that you can easily buy at the big box stores. One of the dealers told me space rent is now over 100$ a month and there are all kinds of restrictions on what you can do and what you can sell.

The good old days of the 70's and 80's at the flea market are long gone....around here anyway.
Bedrock of the Community
United States
20753 Posts
 Posted 03/22/2015  11:17 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
The bad about doing that today is crime. In the good old days people were a bit more honest I guess. By me there are flea markets all over the place. One USED to have at least 4 coin dealers. One large outdoor flea market USED to have many dealers that sold coins.
The last coin dealer at any flea markets by me said never again. He, as many others, were robbed and right in front of many people. Crooks just walked up, grabbed a pile of coins and ran off. What could he do? Chase them? If he did when he got back, everything would be gone and no one saw anything.
Not to say who but now with so many Illegals running around, and most without jobs, grabbing a pile of coins is becoming a way of life.
Flea markets are just not the place to put coins or anything of value out there on a table. One person distracts you and another grabs whatever they can and just run off.

Quote:
Flea markets today don't get the foot traffic they got during your grandfathers time.

One large flea market by me is held outdoors on every Sunday. During nice weather they get well over 100,000 visitors.
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jbuck's Avatar
United States
188001 Posts
 Posted 03/23/2015  10:49 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
There were three flea markets that I regularly visited back in the late 1980's through the 1990's. The state began enforcing sales tax collection (I personally had no problem with it) and that drove away a lot of vendors. I miss them, especially going with my late grandfather.
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