Legend Numismatics Reports Coin Shows Are Dying Off Due To The Internet

Nothing but truth in that essay. One thing they missed, because it's not in their intended competency, is what I predict to be the rise of smaller regional shows in areas which can gather enough attendees within a 2-hour(ish) drive to be viable. These will not be concentrated on high-dollar offerings, but on "everyman" coins at $100 or less. There will always be a demographic interested in personal interaction with the product and the seller; it only remains to figure out how to concentrate and to serve them. I believe it a viable market.

There are a lot of small coin shows within an hour's drive from where I live. Most of them have very limited inventory. One local show has a number of specialists in copper and small silver issues. These dealers have access to many stunning raw coins, but they are not cheap. Shows cost money and then there is the time value of their participation. I feel bad haggling with them sometimes because I have a good sense of their costs, but the internet is almost always cheaper. It is easier to haggle on the internet than face to face, at least for me.

Certainly a spot on report. There are WAY to many "major" shows currently, feels like every other week is a "major" show and they seem to make no attempt to coordinate with each other so the timing and spacing of them makes sense.

The other thing too is the timing of the shows. I never understood why some shows think it is a smart idea to run during the week. Thursday/Friday sure that's fine to have more than a two day show but when shows start on like a Tuesday it makes no sense to me to think people are going to take a week off of work for it making the travel even more expensive.

There certainly can be a place for shows, but some of them need to adjust their thinking and catch up to the present.

Well said as always.

Customers and collectors obtain better pricing through the Internet.
Dealers and vendors obtain higher profit margins and lower expenses through the Internet.

The main drivers of purchasing decisions these days are convenience and price. The Internet beats going to a coin show in both respects, in almost all cases. Unless you live in a major city and can afford to take time off work, coin shows are often difficult to attend. When I go to a show, mostly I see dealers trading with dealers, and by the last day of the show, most of the big dealers have already left.

That being said, there are certain things -- a friendly rapport, early notice of recent acquisitions, a willingness to negotiate, etc -- which are still more easily found in person than online.

I would also add that certain specialty shows, such as the annual EAC convention, are thriving. The big shows (FUN, Baltimore, ANA National) still pull large crowds.

I used to go to Barnes & Noble once every couple of weeks and spend $50+ on books. Now I save fuel, time, and money, and download the same books onto my Kindle immediately upon release, and for half as much as the hardcovers. In addition, I can download a lot of specialized books without needing to have the local store special-order them. There is no conceivable reason for me to actually drive to the bookstore anymore -- in the off-chance that the item I need is not available on Kindle, I can special order it through Amazon and have it shipped to my door in 1-2 days.

With that in mind, the future of the local coin shop (and, indeed, coin shows themselves, especially regionals and locals) is very much in doubt. It simply no longer makes business sense for many folks to own and operate a shop or run tables at a show -- the expenses, and the time, do not justify the investment. Lacking sellers, collectors have no reason to attend shows, so they don't, and the cycle feeds upon itself.

Next coin show, look around. What is the average of coin dealers there ? What is the average age of the collectors ? The current generations are not into collecting anything. Without the sales and profits from shows, due to declining attendance, many dealers no longer do shows. In the last 5 years, quite a few dealers have retired. Less dealers, less shows, less collectors. Yes, our hobby is in decline.

Couldn't disagree with this statement more. You are watching a new tech-savvy generation of collectors moving their purchases online. Go to coin shows if your looking to buy overpriced common coins and other junk. I've already expressed my displeasure after attending 2 shows in the Kansas City area. No more for me.

I have a great display of coins at competitive prices every week using Heritage, Great Collections, David Lawrence, Stacks Bowers and Legend. Why would I waste my time going to shows that feature overprice album crap?

Yup. A third of our membership is under 30, and that's been consistent for the twelve years I've been watching. Numismatics is getting plenty of new blood. They're just not doing it the old-fashioned way.