Coin Community Family of Web Sites Join Thousands of Coin, Bullion, & Money Collectors
Vancouvers #1 Coin and Paper Money Dealer Coin, Banknote and Medal Collectors's Online Mall Specializing in Modern Numismatics Royal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes. Join Thousands of Coin, Bullion, & Money Collectors 300,000 items to help build your collection! Shop for APMEX Bullion on eBay!








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

Coin Show Question On Prices

To participate in the forum you must log in or register.
Author Previous TopicReplies: 23 / Views: 2,656Next Topic
Page: of 2
Pillar of the Community
mrwisker's Avatar
United States
581 Posts
 Posted 08/12/2009  11:32 am  Show Profile   Bookmark this reply Add mrwisker to your friends list Get a Link to this Reply
What drives me bonkers is the bin full of coins, mostly 2x2's
The question comes up...How much are the coins in this bin?
The response...all different prices.
Turns out that even a blind grab yields the single most expensive and rare coin in the bin.
I have been kicking around all kinds of markets and all kinds of shows for quite some time, You get to know the dealers that are reputable and those that are scammers.
Never pay sticker price...and high end flashy coins are just bait (they don't expect to sell them, but you are at the table looking around)
New Member
United States
18 Posts
 Posted 08/12/2009  5:41 pm  Show Profile   Bookmark this reply Add Huffheinz to your friends list Get a Link to this Reply
Hey there...new guy here. I have yet to set foot in a coin show or even shop. OK...so it is expected that you haggle at the shows. Is it expected that you haggle in their actual shop as well?
Valued Member
rjbjjwsl's Avatar
United States
53 Posts
 Posted 08/12/2009  8:42 pm  Show Profile   Bookmark this reply Add rjbjjwsl to your friends list Get a Link to this Reply
The only local shop that I have access to is a lot like the coin shows. I have only bought supplies there but have really been entertained at some of the negotiating that would take place while I was browsing.
Pillar of the Community
mrwisker's Avatar
United States
581 Posts
 Posted 08/12/2009  8:55 pm  Show Profile   Bookmark this reply Add mrwisker to your friends list Get a Link to this Reply
Stores require more overhead than shows. (Lights, rent, employees...etc)
Expect less haggling at a store as opposed to a show.
Also, consider that the more you frequent a shop or a specific dealer, the better prices and merchandise become.
You get the, Hey, Look what I got, I was saving this to show you.
Pillar of the Community
Napoleon31ft's Avatar
United States
528 Posts
 Posted 08/12/2009  10:12 pm  Show Profile   Bookmark this reply Add Napoleon31ft to your friends list Get a Link to this Reply
Yeah becoming friends with someone at a coin shop will get you some deals.
I set aside certain things for the people that I know.
New Member
United States
18 Posts
 Posted 08/13/2009  09:13 am  Show Profile   Bookmark this reply Add Huffheinz to your friends list Get a Link to this Reply
Yeah...I guess haggling with someone in their own shop would seem like bad form.

What about taxes? I'm assuming that you would have to pay sales tax in a shop but would not have to pay them at a show. Is that correct?
Pillar of the Community
Napoleon31ft's Avatar
United States
528 Posts
 Posted 08/13/2009  11:10 am  Show Profile   Bookmark this reply Add Napoleon31ft to your friends list Get a Link to this Reply
As far as I know there is no tax anywhere on coins.
Not in my state at least.
Bedrock of the Community
United States
20753 Posts
 Posted 08/17/2009  5:30 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:

Yeah...I guess haggling with someone in their own shop would seem like bad form.

What about taxes? I'm assuming that you would have to pay sales tax in a shop but would not have to pay them at a show. Is that correct?

Yes and no on that one. Again at a flea market around me no one pays any kind of taxes at all. In some states even flea market sellers are required to pay taxes. At coin shows some dealers keep track of all sales for income tax purposes. They have to report an income so they must keep track of purchases, sales, traveling expenses, on the road expenses, etc just like any buisness. However, some smaller types of dealers that do such sales as a sideline, do not report any such sales. Again, sort of like flea markets. People that sell at a garage/yard/estate sale usually never report sales since they are only supposed to be selling their own property and that was already taxed when they purchased that item.
A coin store or any hobby store that sells coins and/or coin items is a buisness and must keep track of purchases and sales and pay sales taxes as well as income taxes.
So as to your question it is usually depending on if your selling coins as a buisness or just for getting rid of your own items as to if it's a buisness. Of course there are many people that sell at flea markets professionally and that is their buisness and they pay no taxes.
  Previous TopicReplies: 23 / Views: 2,656Next Topic
Page: of 2

To participate in the forum you must log in or register.



    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.28 seconds to rattle this change. Forums