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Coin Show Strategy?

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United States
67 Posts
 Posted 05/16/2010  7:27 pm Show Profile   Bookmark this topic Add daveg131 to your friends list Get a Link to this Message Number of Subscribers
What's your strategy when planning to go to a show, and while at the show? Do you go looking for a specific coin in mind, or do you have a list of coins that you keep an eye out for? Or do you just go and look for anything interesting? Looking for some tips, as it seems like every time I go to a show, I have no focus. Then if I do see something I'm interested in I have no idea what a fair price is. Usually I end up just buying some bullion.
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Sap's Avatar
Australia
16808 Posts
 Posted 05/16/2010  9:12 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
When I go to a coin show, I'll often update and print out my wantlist. My collecting interests are a bit eclectic and coin shows around here aren't very big, so the probability of me finding everything on the wantlist at any one show is effectively zero.

When I arrive at the show I'll cruise around, looking for dealers that are most likely to stock the things on the wantlist. Once I've gone around, I'll approach those dealers with the wantlist.

But I have to admit that once the wantlist has been covered, I'll then end up spending most of my money on stuff that's not on the wantlist, but which appealed to me anyway. I'm not very self-disciplined in that respect.

Quote:
Then if I do see something I'm interested in I have no idea what a fair price is.

That sort of thing doesn't bother me, personally - if I want it badly enough, I'll pay whatever the dealer is asking for it. But if it bothers you, then do the research before you go, and do a little extra work when you make up your wantlist, and put some kind of price range that you're prepared to pay. If your tastes vary considerably, bring along a catalogue or price list - there's no law against looking up a catalogue while you're at a dealer's table. Just don't point at a listed price and confront the dealer with it, demanding they sell their coin at that price - that's crossed the line to being rude. If the dealer's prices are too high, haggle, or walk away.

Alternatively, in this modern Internet age, you could get yourself a wireless Internet doohickey, bring it to the show and use it there to research online prices while you're there at the show.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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tumbleweedtrumpet's Avatar
United States
1418 Posts
 Posted 05/16/2010  9:16 pm  Show Profile   Bookmark this reply Add tumbleweedtrumpet to your friends list Get a Link to this Reply
Yes, it helps to have a list. What I do, is look everything over, and then decide what I want more, unless I find a really good deal.
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The_Duke's Avatar
United States
1745 Posts
 Posted 05/17/2010  08:29 am  Show Profile   Bookmark this reply Add The_Duke to your friends list Get a Link to this Reply
My database enables me to print out my want list by type, etc. I also have numismedia prices with me as a guide. Stroll around and find the most likely dealers and show them the list. Take notes of prices and revisit those you wish to buy from.


I sound more disciplined then I really am, but most of all, have fun!
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 05/17/2010  10:05 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
I generally walk in with a precise concept of what I want, in what grade and at what price. Then, I completely abandon any plan and skip around like a schoolkid during Recess, playing Johnny Appleseed with my money and arriving home later with stuff I didn't know existed when I woke up that morning.
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Scooby Due's Avatar
United States
4000 Posts
 Posted 05/17/2010  10:53 am  Show Profile   Bookmark this reply Add Scooby Due to your friends list Get a Link to this Reply
LOL SuperDave! Sounds like me! I seem to NEVER come home with anything that was even closely remote to my list, but giddy anyway.
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jbuck's Avatar
United States
187702 Posts
 Posted 05/17/2010  12:12 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I usually go with a particular coin or coins in mind. I take my list and associated notes (which these days lives on a smart phone).

I always go around the floor a couple of times before making a purchase. I like to see who has what I am looking for and make mental notes.

I also like to look at other things that I probably have no interest in buying, but want to learn about. It is a show, after all! I really do enjoy looking at a variety of things, much like a car or boat show.
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rggoodie's Avatar
United States
23484 Posts
 Posted 05/17/2010  3:40 pm  Show Profile   Bookmark this reply Add rggoodie to your friends list Get a Link to this Reply

Quote:
When I go to a coin show, I'll often update and print out my wantlist


Funny
I also print out Saps want list
you might try it also

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carmykle's Avatar
United States
2448 Posts
 Posted 05/17/2010  4:24 pm  Show Profile   Bookmark this reply Add carmykle to your friends list Get a Link to this Reply
Super Dave is right on the money. I go in with good intentions, then blooey (is that a word) my eyes loose focus, knees get weak, and I start buying everything but what's on my list. Do they make a pill for this?
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Tim Stroud's Avatar
United States
2661 Posts
 Posted 05/17/2010  7:20 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
I go with what ever amount of cash I am willing to let go of at the time and any 40% halves I may have pulled from rolls to sell. When I get there, I buy $20 worth of raffle tickets. Then I walk the floor and see what everyone has to offer. I do not make a list because I will collect about anything coin that does not move too fast for me to grab. I will look for the guy who has large boxes or bags of coins and then I'll sit and go through them hoping to find a hidden gem or a date I don't have yet. Passed on some Gem Bu 1922 and 1923 Peace dollars last October for $16 each and I still kick myself in the rear each day when I get up for not buying them all.
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United States
20753 Posts
 Posted 05/18/2010  12:24 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
I usually make a few lists. One is what I need to fill empty places in an Album. One list is for coins that should be replaced in an album due to needing an upgrade. I usually attempt to place a limited price based on the lists based on several sources and will never pay more than that price. I get prices from the Red Book, grey sheet, ebay, a few web site dealers and average them all out.
At a show I generally look for those coins but so many times I forget those lists and just buy what I want.
For example at a coin show last Sunday even with a list I bought this.
Coin-Show-Strategy?
Although I have some of these already, the dealer said I could have it for $5 due to the letters all messed up.
We have so many coin shows around me that if I don't fine something at one, I'll find something at another.
On thing to remember is security. Maybe not by you but around here there have been many instances of robberies of people on the way home. Also, more home invasions are occuring and the robbers know there are coins there somewhere. How did they know? Easy. Remember if your paying for a coin with a credit card or check, some personal information is shown. Someone with a camera phone could be standing right over your shoulder. Some criminals now copy down your auto plates and if you have a city sticker, that too is copied down. With our wonderful freedom of information acts, you can find out so much on the internet about someone it's scarry.
I never carry a check book, credit card, debit card to a coin show.
Watch for someone standing over you while purchasing a coin.
Attempt to see if anyone follows you when leaving a coin show.
If driving there, drive around the parking lot a few times to see if any one is trying to follow you.
In a coin show always carry money in a front pocket. If someone bumps you, check right away for your money.
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