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 Replies: 13 / Views: 1,630 |
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Valued Member
United States
58 Posts |
I need some advice. In about 2 weeks I will be attending my first coin show. What are some tips to know? I don't want to be suckered into just anything. How do you guys shop at coin shows? Edited by sgriffis74
01/31/2010 12:41 pm
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Pillar of the Community
United States
2541 Posts |
I know the feeling... I've only been collecting for about 2 years and the first 5 or so coin shows I went to I bought all kinds of random stuff because I liked the look of it. None of it was bad stuff, but when I looked back at what I bought, I didn't have any kind of pleasing set or collection.
My advice is think about what you want to collect and write it down on a list. First, second, third priorities etc. Focus on that and after going to a few coin shows you will start to see a nice collection develop.
My other advice is to try to look at some of the higher end and rarer coins in person. When you see 19th century double eagles, 18th century silver dollars, and all that other stuff that most people can't afford to buy!
Edited by Gothic Florin
01/18/2010 10:07 pm
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Rest in Peace
United States
2668 Posts |
Keep your hand on your wallet.
Try not to give in to impulses to open it.
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Rest in Peace
United States
3039 Posts |
Remember-Take lots of money !
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Valued Member
United States
124 Posts |
 sgriffis74 I take it that you will be going to the show in Perry. That is probably one of the best places to get to meet some local dealers. (I said this in my reply to another post of yours.) I think the best thing to do is to go without intending to buy anything; just look, ask a lot of questions, and get to know some people. I think that you will find that the dealers at that show are honest and really don't mind taking the time with new collectors. I'll be there too on Saturday  Edited by Brian Mc
01/18/2010 10:16 pm
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Bedrock of the Community
United States
14454 Posts |
my first show was very overwhelming. I would suggest to make a list before you go with what you are looking for and stick to it. There will be allot of coins (especially if its a big show like the one I went to) and if you don't have any focus you will get the urge to buy everything you see. Dont buy the first coin of the type you see because chances are there will be more than that one coin of that type there and just because there is a price on the holder don't be affraid to ask them if they can do any better on the price
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Bedrock of the Community
United States
12437 Posts |
How big is the show? If it is fairly small(less than 40 dealers) you will probably be fine but if it is a big show you might be a bit overwhelmed. The show floor is known as a bourse. Once you get there, walk the bourse at least once checking out all of the dealers but do not think about buying anything until you have made it through all of the dealers at least once. The reason for this is simple- you may walk up to one dealer and find a coin that you think is a great deal then plunk down your money. But then you find the same thing ten dealers down for 20 bucks less  Sometimes a dealer's table will be full of customers and you cannot see what he has until the second(or third) time through the bourse. The last large show I went to had about 120 dealers, I walked the bourse about ten times and did not make a single purchase until my second time through. Take a small notepad or pocketbook with you to make a note of coins and dealers that interest you. once you make it through the first time, go back and visit the dealers that interested you. Feel free to chat with them but do not occupy all of their time if they have customers waiting in line, that is bad etiquette. If you have a dealer show you a large number of coins but not much interests you, it is good practice to make at least a token purchase as thanks for his time. If you need a particular coin(s), research it ahead of time. Write down a grade range you can afford and prices you are willing to pay. If you see a dealer with a number of coins from a series that interests you but you do not see the particular coin you are looking for, just ask. Many dealers do not have all of their coins displayed and will usually have some extras in a briefcase or box behind the table. If you encounter a dealer without prices listed, go ahead and make what you think is a fair offer. If the listed price of a coin is a bit more than you want to pay, ask for his best price as there is nothing wrong with asking for a discount. Just make sure you do not insult the dealer, i.e. offering $40 for a $100 coin. There is also nothing wrong with asking a dealer what he would grade a coin is selling. If you see a coin and you think it is a nice EF but the dealer is calling it an AU55, it would probably be best to thank the dealer and just walk away. Just make sure you are confident in your grading skills for what you are looking for. Just like a casino, only bring enough money with you that you are willing to spend. Some dealers will take checks or credit cards but cash is king and it keeps your spending in check. Beware that some dealers may be codgerly old grumps, it is best to ignore them and not take it personally. Most importantly, have fun and enjoy yourself  |
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Valued Member
United States
118 Posts |
goodluck! I'm going to my first show in march.
Post what you get!
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Moderator
 United States
56855 Posts |
Bio,That is exactly what I do when I go to a coin show and highly recommend that every one does it. Just a note, take your loupe with you, you will thank me later for having your loupe so you can get a good look at what your buying before you plunk down your hard earned cash. Most of all HAVE FUN!John1  |
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Valued Member
United States
124 Posts |
One secret to coin show success is to be willing to walk away from a coin. It's too easy to buy something that I only "kinda" want rather than "really" want. My secret is to have several projects working at once and have a good want list (including grade and price I'm willing to pay) for each project. The reason is that if I were only working on one thing (Say, Mercury dimes, for example) if I found a dime that I need, I might be tempted to buy it even if it isn't quite the grade or price I was looking for. When I go to the show this month, I will have a want list for Franklin halves, Mercury dimes, and Buffalo nickels (all sets I'm working on now). Plus, I'll have a list for the 7070 I'm working on and for Canadian types I've just started. With so many projects to work on, the temptation to buy an almost-but-not-quite-right Franklin half is much lower. Edited by Brian Mc
01/19/2010 11:16 am
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Valued Member
United States
220 Posts |
I am also a new collector. The above discussions are very useful. Thank you, everyone.  I look forward to participating my second coin show in March. |
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Moderator
United States
187567 Posts |
A lot of good advice here! I always make at least one trip around the floor first. Usually it is just to find out where my favourite dealers are (the maps are not always accurate), but I do note who has what I might be looking for that day. I used to look for anything and everything that was on my "needed coins" list, but now that I am getting down to the more expensive coins to fill my albums, I try to concentrate on one thing at a time. Looking back, I have to say that this is good advice even for a beginner. Do your research before hand so that you know what to look for, how to grade it, and what an acceptable price is. Another thing I recommend, and it was brought up in another thread, is to take your smart-phone or PDA with you (if you have one). You should be able to store your research information on it, as well as record any notes that you want to take as you look around. With web access you can look up price guides (like NumisMedia). Also, do not be afraid to post a message to the Community if you have any questions! |
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Valued Member
 United States
58 Posts |
I just wanted to thank everyone for the advice. I went to the coin show. I first made a priority list of things I wanted/needed to fill holes in my collection. When I was at the show I was overwhelmed! WOW! There were thousands probably millions of dollars worth of coinage. So I calmed down browsed the entire show, talk to those who would give me the time of day. As I was browsing I was spot-checking prices. Once I had made it through the entire show I went back to those individuals who were the most personable and who's prices seem in line with the Red Book. I then sat down at 3 vendors/collectors and search was I need and bought the items. Afterwards I felt great about my purchases. Nothing real key but I was able to fill several holes and complete a couple of sets. Thanks to all of you for the support in the forum. I am looking forward to my next show. |
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Pillar of the Community
Germany
1062 Posts |
What I do is walk around for an hour, don't buy anything, see what people have. I have lists, with prices on them, so I don't over spend on things, and aim for certain coins that I want. Depends what you want really, but I find after the first hour you get into it a little more, relax and calm down. You'll see people going mad, don't worry about.
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Replies: 13 / Views: 1,630 |
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Posted 01/18/2010 10:10 pm
