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 Replies: 15 / Views: 2,186 |
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Valued Member
United States
397 Posts |
Sorry if this is a dumb question, but I've never been to a coin show before. I'm thinking of going to one this weekend, and maybe pick up some stuff, if the price is right. Maybe I'll take my oldest daughter along, too. I'm not planning to pick up anything big, but assume there will be larger deals made there by other people. Are these deals usually cash deals, since credit cards have a surcharge? Do I need to bring a wad of Benjamins if I want to buy anything? Really not sure what to expect, as it'll be my first time. Looking forward to it, though!
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Moderator
 United States
15389 Posts |
I've never seen a coin show transaction that used credit cards. Its cash, bullion (gold in particular) or trade.
Of course, if you have a long standing personal relationship with one of the dealers they would arrange other means for a large transaction such as check or bank transfer after the fact. That's not a likely scenario for your first coin show.
Enjoy the show.
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Bedrock of the Community
United States
94367 Posts |
Benjamins are best. With references, most dealers will take checks.
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Forum Dad
United States
24148 Posts |
We took them, Susan could process them with a reader on her phone.
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Pillar of the Community
 United States
4587 Posts |
Some do... but it's rare. They also charge you the credit card swipe fee. And they really don't like it for bullion - if the spot price goes down, people will try a charge-back.
-----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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Moderator
United States
54280 Posts |
I attended the ANA show in Pittsburgh this year. There were a few dealers who would take credit cards. Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Moderator
United States
187671 Posts |
Yes, some do. They may advertise it or you may have to ask. More and more will have to if they want to keep up their sales. Times are a changing... For what it is worth, I have used a credit card once. I was short the cash needed to buy my 1847 Seated dollar, so the dealer allowed me to pay the difference on CC (no fee either). I was happy to not leave and find the nearest ATM.  |
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Pillar of the Community
United States
1316 Posts |
My experience is that some do, notably the more full time dealers with a foot solidly in the modern market of the modern world. Some will tack on a 3-4% charge rather than eat the merchant fees. Some have a SQUARE on hand to do it. A few have a more typical old school reader to swipe.
Another strategy that works better for me is to ask if they do Venmo or Paypal and you can link your CC to that. I think that more dealers are setup to work something this way. (I once had to help a dealer get into their own paypal and go through the invoicing process for him so I could pay while he stood at my side. lol. Where there is a will, there is a way.)
But don't be surprised at how many sellers show up with coins worth hundreds or thousands and have no way to get paid other than straight cash or bullion trade. It might be 2023 for 99% of us, but its still 1985 for quite a few running these tables. (These guys also are known to start the show grumpy and its all downhill from there when sales are slow...)
Edited by Collects82
10/20/2023 12:31 pm
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Valued Member
United States
354 Posts |
Very interesting. I've just started collecting and likely will attend any next local coin show. Now I know to plan what I'm looking for, budget it and bring enough cash to cover a purchase.
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Moderator
United States
187671 Posts |
Quote:
I once had to help a dealer get into their own paypal and go through the invoicing process for him so I could pay while he stood at my side. lol. Where there is a will, there is a way.  |
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Valued Member
 United States
397 Posts |
Thank you for all the replies so far. I guess I'll bring some cash - hopefully they have good security over there!
Also, what are some of the best things to look for/pick up at a coin show? Also, is haggling frowned upon?
Working with a modest budget. Maybe $100 tops.
Edited by AllSeasons
10/20/2023 10:22 pm
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Pillar of the Community
United States
7273 Posts |
At Baltimore I didn't have enough to buy a note so I was able to do a PayPal for the difference.
Vast majority of deals are cash, I know a few dealers take CC but most want cash only.
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Moderator
United States
187671 Posts |
Quote:
Also, is haggling frowned upon? If not outright encouraged, it is certainly expected. In this case, cash does help with the negotiations. |
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Valued Member
United States
397 Posts |
Thank you all for the replies! I did bring some cash, but only ended up spending like $7, including the entrance fee. Probably would've spent more, if it weren't for my younger one's small bladder. Yea, daddy didn't actually get to buy anything ...
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CCF Advertiser
United States
1533 Posts |
Some dealers use Square to take CC. I do not take credit cards, Paypal, or Venmo G&S. There is a documented 1.5% chargeback rate on these things and I will not let someone walk out with thousands of dollars in bullion if they can just go home and dispute the transaction with their bank. I know a dealer that got taken at MSNS by a scammer using Paypal. He walked out with product and the scammer just filed a dispute saying the items were not delivered. Paypal is not designed for in preson transactions and unless you video the transaction on your phone, they will just give him his money back. There is no reason to have to pay a third party for buyer protection for a face to face transaciton, so I assume if you come with that plan in mind, you are a scammer. Bring cash until you are a known entity. After a few months at shows, everyone will take your check.
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Moderator
United States
187671 Posts |
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Yea, daddy didn't actually get to buy anything ... Bummer. I went to a show this weekend and left empty handed as well. Two shows in a row.  On the plus side, I managed to investigate how many dealers took plastic and/or PayPal... the answer is plenty. That is, a lot more than I remember.  |
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Replies: 15 / Views: 2,186 |
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Posted 10/20/2023 08:45 am
