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Just Went To My First Coin Show...boy Was I Lost !

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Eyeluvcoins's Avatar
United States
186 Posts
 Posted 04/05/2008  4:39 pm Show Profile   Bookmark this topic Add Eyeluvcoins to your friends list Get a Link to this Message Number of Subscribers
I guess the title says it all...I just went to my first coin show, and Boy was I lost
I could use some advice on what to do to prepare for the next one!
Again, Thanks my coin buds!

Laura
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HippieOutcast's Avatar
United States
615 Posts
 Posted 04/05/2008  4:42 pm  Show Profile   Bookmark this reply Add HippieOutcast to your friends list Get a Link to this Reply
Well, the best advice that I have is:

If you don't really know what your looking for, don't let that show. Just plan ahead, set out with what you are looking for, and keep that in the back of your mind as you shop.
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hunter20ga's Avatar
United States
1173 Posts
 Posted 04/05/2008  4:49 pm  Show Profile   Bookmark this reply Add hunter20ga to your friends list Get a Link to this Reply
Every one is a bit different...but here's what I do.

First...I decide if I'm looking for a specific coin (or coins) or if I'm looking for good deals. If the former, I make a list and stick to it. (Not that I don't browse...but I don't let myself get sidetracked.)

Second...I do my best to determine what money I'm willing to pay for the coins on my list, so I don't get carried away. (I was once an impulse buyer, so I've learned the hard way to watch my pocket book!)

I used to be a bit shy...now I ask a lot more questions. I'm not the sort to argue about grades with a dealer, but if I think the coin is overgraded and/or overpriced I will walk away with a shake of my head. Some dealers make it easier to dicker; I can, when I'm in the right mood.

Don't let the size and number of tables, etc., get you flustered. Everyone there has the same general goals...to sell some coins, to buy some coins, and to have a good time. Usually, if you ask for some help and or advice, folks are more than willing to gab all day.

Finally, some say that it is bad form to bring a Red Book or grey sheet with you. I don't agree. Bring whatever reference materials you want. Just remember that the Red Book is always somewhat out of date, so it really is nothing more than a "guide" to possible value of a coin. Even grey sheets, published monthly, can be too high or too low based on a lot of different issues. Still, either reference can be a good guide to keep you from getting too carried away.

Take a loupe or magnifying glass, and be sure to take note of the lighting in the room. I've often found the lighting to be miserable for grading coins. I like the small magnifying glasses that also have a built in light.

Mostly, just go with the intent of having fun and buying a few coins. If you're nervous about that, start small! Don't go looking for a $2,000 coin right off the bat, unless you are well-heeled and well-educated about the coin and series.

I'm sure others will have better advice.
Good luck!
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KurtS's Avatar
United States
5318 Posts
 Posted 04/05/2008  5:15 pm  Show Profile   Bookmark this reply Add KurtS to your friends list Get a Link to this Reply
Yeah, I was intimidated the first time too. I let it get to me too much. All good advice...each has a different take.

Personally, I prefer as little dealer involvement as possible. So I target the dealers with binders I can browse through--not the guys leaning over a glass case of expensive slabbed coins. I start on coins I'm familiar with, and if they look reasonably good and priced well, I might ask to see something special. I'll just say--I've found some pretty valuable coins in those table top binders w/o any dealer interference. I prefer to fly under the radar

And, if a dealer ever does something you don't like, stand up and walk to another table. What may work in their shop doesn't fly in shows. I simply enjoy shows for this very reason.
Edited by KurtS
04/05/2008 8:45 pm
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MLFLY's Avatar
United States
130 Posts
 Posted 04/05/2008  8:38 pm  Show Profile   Bookmark this reply Add MLFLY to your friends list Get a Link to this Reply
LOL. When I went to my first I did nothing but "window shop" for the first two days - it felt like buck fever when I thought about buying something. Don't worry, it will pass. In fact it will go the other way pretty soon - you won't be able to stop yourself :)
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Eyeluvcoins's Avatar
United States
186 Posts
 Posted 04/05/2008  11:55 pm  Show Profile   Bookmark this reply Add Eyeluvcoins to your friends list Get a Link to this Reply
Wow, thanks for your input.
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CoinHunter53562's Avatar
United States
2049 Posts
 Posted 04/06/2008  12:02 am  Show Profile   Bookmark this reply Add CoinHunter53562 to your friends list Get a Link to this Reply
Lots of good advice here. Personally I like to walk the entire show and make notes of who has the kind of coins I am looking for. I generally wont buy something on first view unless it's a great deal or I think someone else might buy it if I dont. Feel free to ask lots of questions and dont be afraid to walk away from a deal if it doesn't feel right to you.
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jbuck's Avatar
United States
188052 Posts
 Posted 04/06/2008  12:49 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

I do not think I have ever bought anything within the first four rounds!

Like Kurt said as well! Never underestimate the deals to be found browsing through binders!

But I do have some favourite dealers that I will talk to. Take your time, you will probably find some as well, even if it is two or three shows down the road!
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j-easy's Avatar
United States
178 Posts
 Posted 04/06/2008  12:52 am  Show Profile   Bookmark this reply Add j-easy to your friends list Get a Link to this Reply
i cant wait until the coin show comes around again
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ceaton's Avatar
United States
1179 Posts
 Posted 04/06/2008  01:00 am  Show Profile   Bookmark this reply Add ceaton to your friends list Get a Link to this Reply
I agree with hunter about bringing references with you. There is no reason you shouldn't have all the reference you need with you at all times. I carry my phone which I keep spreadsheets of what I need, and how much they are worth per greysheet. Having greysheet values helps determine how much some dealers might markup etc... But the greysheet isn't the almighty guide, lots of factors involved with prices.
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shappa's Avatar
United States
64 Posts
 Posted 04/06/2008  05:04 am  Show Profile   Bookmark this reply Add shappa to your friends list Get a Link to this Reply
Poor form to bring refrence materials with you to a show?

Who says that? Dealers?

You can bet every single dealer there has some form of reference that they'll draw like a lightsaber if they need it.
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afernbaugh's Avatar
United States
263 Posts
 Posted 04/06/2008  06:23 am  Show Profile   Bookmark this reply Add afernbaugh to your friends list Get a Link to this Reply
I take my "upgrade needed" list (with max prices and grades), my trading stock, my budgted cas reserve and my loupe. I do not take my check book! I do keep my eyes open for under valued coins that I am very familiar with; I have made some money at the shows I attend although it isn't my first priority.

afernbaugh
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jeremymh's Avatar
United States
543 Posts
 Posted 04/06/2008  10:35 am  Show Profile   Bookmark this reply Add jeremymh to your friends list Get a Link to this Reply
I still hsvent gone to a coin show yet, though I hope to go to one soon.
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eaglefoot's Avatar
United States
6326 Posts
 Posted 04/07/2008  6:11 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
Haven't been to one since last year!!.........I'm definately getting the urge !!
Bedrock of the Community
United States
20753 Posts
 Posted 04/09/2008  09:51 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Some suggestions from someone that goes to 2 to 4 coin shows a month.
1. Go with an open mind. Do not go with the intent on purchasing a certain item. You may miss many great opertunities if you are there and using tunnel vision
2. Attempt not to take a check book or credit cards. At least until you are well aware of what you are doing. You don't want to be caught up in a buying frenzy.
3. Usually start at one end and walk the entire room prior to attempting to purchase a coin, book, etc. You may find the same item cheaper at the next table. Of course you may pass up a great deal also.
4. The Red Book is heavy and useless for prices. If you have a grey sheet or other light weight price list, take that. If the show is large any excess, useless weight is a burden and may make you want to leave earlier.
5. Be carefull. If you do have a check book, watch carefully for anyone standing over you when you bring it out. Remember how many people now have camera phones. Your personal information may well be on that check.
6. Same with credit cards as number 5.
7. Keep all cash in a front pocket. If in a rear pocket and the show is crowded, you may be amazed at how fast a bump could releive you of your cash.
8. Due to the area I live I find it pays to first locate the nearest police station to the show. When leaving the show if followed, you may want to stop there. You could just ask directions but anyone following you don't know that.
9. When leaving a coin show watch for anyone else leaving at the same time. If there are any, go back inside and pretend to look at a table. Then leave again. If the same person comes and goes when you do, do this seveal times to let them know you know.
10. If you leave the show and suspect someone is watching you, don't go to your car right away. Your car has license plates, some have stickers, all give away to much information. Stand outside for a while as if trying to get some fresh air, go back inside and repeat until you feel safe.
11. OH YEAH, have and have fun too.
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