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Do Coin Dealers Charge More At Larger Shows?

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Joe2007's Avatar
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 Posted 07/14/2017  10:45 pm Show Profile   Bookmark this topic Add Joe2007 to your friends list Get a Link to this Message Number of Subscribers
Just a theory I was throwing around in my head and wanted to get the forum's thoughts.

Since the larger shows charge much higher table fees and dealers have to possibly invest considerable sums in travel expenses including airline tickets, parking fees, more expensive lodging and food costs. Do coin dealers typically mark up their prices at larger coin shows when compared to other venues due to expenses incurred and the presence of more potential customers.

Your thoughts?

Thanks,
Joe
Edited by Joe2007
07/14/2017 10:51 pm
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MikeF's Avatar
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 Posted 07/14/2017  11:02 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
From my limited experience, out here in Kansas City at small shows, dealers mark up coins to outrageous figures. I was looking at a 1795 small eagle dollar last month in vg-20 graded by NGC. The dealer wanted $5,500! I find the same ridiculous markups at all other 40 tables at the show. They take Junk Barber halves that I can buy in bulk for $7 and mark them up to $15-$20 a pop. I think it depends on the region you live in.

I don't have any experience at national shows because they don't happen in the lower Midwest. But what from I've seen out here in the Kansas, Nebraska, Missouri, Arkansas, Iowa region of the Midwest, the best advice would be to avoid shows altogether unless you're trying to get upsidedown in your coin collection.
Edited by MikeF
07/14/2017 11:15 pm
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Matt2727's Avatar
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 Posted 07/15/2017  12:02 am  Show Profile   Bookmark this reply Add Matt2727 to your friends list Get a Link to this Reply
Having been to the Whitman Expo in Baltimore numerous times, I think it is quite the contrary. I have always found the prices cheaper than ebay or my LCS.

At larger coin shows, there are so many other dealers (which means so much competition) that I think dealers have to mark down prices a bit to get customers.
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sel_69l's Avatar
Australia
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 Posted 07/15/2017  12:16 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I have always been a rather obtuse sort of thinker and strategist. Such thinking usually, but not always, works for me.
At the larger coin shows, I tend to aim at the lower valued possible additions to my collection.

Basically, I have a tendency to cherry pick across the whole spectrum of numismatics. That strategy opens up the possibility of finding many more good value for money bargains.

Such a strategy came about because I became increasingly frustrated in finding bargains in my areas of speciality. That is one of the reasons why I have managed to maintain a lifetime interest in numismatics.
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Canada
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 Posted 07/15/2017  12:25 am  Show Profile   Bookmark this reply Add Bigchip22 to your friends list Get a Link to this Reply
yes
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Canada
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 Posted 07/15/2017  12:35 am  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply
no
"Dipping" is not considered cleaning...
-from PCGS website
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coin197's Avatar
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 Posted 07/15/2017  12:49 am  Show Profile   Bookmark this reply Add coin197 to your friends list Get a Link to this Reply
No, maybe actually better deals.
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999fine's Avatar
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 Posted 07/15/2017  04:09 am  Show Profile   Bookmark this reply Add 999fine to your friends list Get a Link to this Reply
Sometimes
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sel_69l's Avatar
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 Posted 07/15/2017  04:52 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
"Yes"
"No"
"Sometimes"

I see the collective humor in that !
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MikeF's Avatar
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 Posted 07/15/2017  04:55 am  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply

Quote:
"Yes"
"No"
"Sometimes"

I see the collective humor in that !

LOL I was thinking the same thing. I had to double check and make sure the post wasn't a poll.
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Collects82's Avatar
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 Posted 07/15/2017  09:08 am  Show Profile   Bookmark this reply Add Collects82 to your friends list Get a Link to this Reply
The only conclusion I've made is the bigger the show, the more variety. That applies to the inventory as well as the dealers. Some aim for high turnover, so price competitively. Some aim for only high end trust fund investors and truley don't want to be bothered by the other 99% of everyone there, and some treat it like any other show. Some dealers are always grumpy. Some are there to have fun. But at least there is a lot more hunting to be had!
Edited by Collects82
07/15/2017 09:12 am
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 Posted 07/15/2017  09:36 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Living in an area where we have very small, medium and large coin shows and I go to almost all of them, the answer is YES. And this is not only based on me but by dealers I know that go to both. And the reason is simple. At most small or just medium sized shows, dealers are usually from the area. This means they simply go there, rent a table, then leave and go home. Very little expenses. At large shows, many dealers come from far away and must find a place to stay such as motels or hotels and usually for a few days. Then too at large shows table rentals are very high, food prices must be entered in, transportation costs also are added in. All such expenses must come from somewhere and this means from the sale of coins so it becomes necessary to up the prices of the coins to pay for all this.
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jbuck's Avatar
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 Posted 07/16/2017  12:51 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I have never been to a larger show so I cannot say from experience, but I would think that prices would be better because of competition and volume. By volume, I mean dealers probably bring a lot more inventory knowing there will be a lot more people.
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 Posted 07/16/2017  09:40 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
By volume, I mean dealers probably bring a lot more inventory knowing there will be a lot more people.

Not so. You also must factor in the prices of table rentals. The larger the inventory, the more tables are required. And table rentals at some large shows can go for $500 to a few thousand dollars. Normally at smaller shows a table rental is about $50. One dealer I know usually has 3 or 4 tables at small shows but only 1 and sometimes 2 at large shows due to the expense per table.
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Andrew99's Avatar
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 Posted 07/16/2017  10:06 am  Show Profile   Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
True. I do local shows only and table fee is $50. At that price I can afford to bring $2 copper rounds for display. At a big show with $800 table fees, it would have to be high end material only. Real estate costs are just too high.
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jbuck's Avatar
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 Posted 07/17/2017  11:44 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
The larger the inventory, the more tables are required.
Not necessarily. Some dealers at the shows here keep a lot of stock below and behind the tables. "What are you looking for?" Pulls box out, puts on table, "Enjoy."

Sure, there are those who want everything out and on display, and they would pay more to show more, but I do not think that is an efficient use of their resources. I do find the better deals are from the dealer with the smaller footprint.

I guess I just need to make my way to a larger show and see for myself. If you guys are right, then I have not really missed anything all these years.
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