Coin Show Tips

[SunriseW]

I plan to attend the Long Beach Expo coin show in the LA market next week. I've never been to a coin show before, and I'm not going with any specific agenda in terms of buying anything, but I'll be open to it if anything catches my eye. Does anyone have any advice or tips with respect to shows? Are shows a better place to buy/sell your coins than going through the regular retail space of a dealer?

[RWB]

Plan what you want to accomplish. Browsing, buying, selling - or ?? Stay focused and look for quality and value not labels and hype.

[bstrauss3]

A large show is overwhelming - pure sensory overload.

 

So accept you are going to miss "lots of stuff" and pick a few things to focus on.

 

Selling is a thing - find dealers who are showing the kind of material you are selling and when they ask what can they show you, tell them you have coins to sell.

 

Buying is another thing. Now your focus can be very, very narrow or not - but a focus it is. Something you can describe in 10 words or less. Not just "stuff".

 

I'm looking for a...

 

1859 IHC in XF, PCGS or NGC

1880s IHC in MS64 red, PCGS

 

That second line actually describes ten coins, but see how it's one thing the dealer can say "don't have it, sorry" or "I have several over here".

 

However, "I'm just browsing, if there's something that catches my eye I'll ask" is also OK.

 

[physics-fan3.14]

Biggest tip - don't be afraid to ask to look at something.

 

If you don't have any intention of buying it, be honest with the seller, tell him you just want to learn (sometimes, if he isn't busy, the sellers will help teach you interesting things). On the flip side - if the seller is busy and his table is crowded, don't take up his time tire kicking. Let him conduct his business, and come back when he is less busy.

 

Also - try to control how overwhelmed you will get. When I went to my first show, it was a tiny local show in the small conference room of a hotel. There were maybe 20 dealers. Naive little 15 year old me was still overwhelmed.

 

Long Beach will have hundreds of dealers in a cavernous convention center, and thousands of people will be there. Billions of dollars worth of coins and money will be on display. You will get overwhelmed. You have never seen such a wealth of numismatic treasure.

[DaveG]

Read this thread.

 

Generally speaking, shows are better places to buy and sell coins - you have a lot more choice of dealers from whom to buy and more dealers to whom to sell.

 

One exception is low-value or heavy items many dealers hate to carry this material to or from the show, especially if they have to fly. Sometimes, small local shows are better for this material.

[tenacious]

Don't hesitate to strike up a conversation with the dealers. Most, (although not all), are happy to discuss and share their knowledge with you. I've learned a lot from casual conversations with dealers that often turned into valuable numismatic lessons for me.

 

Don't look at coin shows as just buy/sell venues. Also look at them as places of learning and the sharing of knowledge and experience.

[SunriseW]

Thank you for those helpful tips (and for the thread link from DaveG).

[jpcienkus]

1) Make a list for yourself of at least 5 coins you would like to add to your collection. Be specific (date, mm, grade, variety and general retail price) You don't need to buy them all, but the list can get you back focused in an over whelming environment.

 

2) Have some way to get pricing information if you find something that you want to purchase. Have the PCGS Price Guide on your phone. It may be high retail pricing, but at least it's something.

 

3) Bring some reference material with you as well.

 

4) Go with the idea that you want to learn something

 

5) Be patient. Unless a coin is a "must have" in your eyes, be patient when looking through the bourse floor.

 

6) HAVE FUN.

 

 

[david3142]

To add to #2 above, don't be afraid to ask the dealer if you can see a Greysheet. It's far better than the PCGS price guide. Also, their reaction can help you learn about their pricing. Many use it, but some are routinely higher.

[BustDime1811]

Dont try to go to every table. Find the dealer list before hand and research their specialty. Plan your browsing and selling attempts according to your collecting taste and what you have to sell (specialists will almost always pay more for their type). Be polite and compliment the dealers coins...start a dialogue.

[MarkFeld]

Biggest tip - don't be afraid to ask to look at something.

 

If you don't have any intention of buying it, be honest with the seller, tell him you just want to learn (sometimes, if he isn't busy, the sellers will help teach you interesting things). On the flip side - if the seller is busy and his table is crowded, don't take up his time tire kicking. Let him conduct his business, and come back when he is less busy.

 

Also - try to control how overwhelmed you will get. When I went to my first show, it was a tiny local show in the small conference room of a hotel. There were maybe 20 dealers. Naive little 15 year old me was still overwhelmed.

 

Long Beach will have hundreds of dealers in a cavernous convention center, and thousands of people will be there. Billions of dollars worth of coins and money will be on display. You will get overwhelmed. You have never seen such a wealth of numismatic treasure.

 

"Billions"? I think not.

[Mr.Mcknowitall]

don't eat the hot dogs.

[MarkFeld]

I plan to attend the Long Beach Expo coin show in the LA market next week. I've never been to a coin show before, and I'm not going with any specific agenda in terms of buying anything, but I'll be open to it if anything catches my eye. Does anyone have any advice or tips with respect to shows? Are shows a better place to buy/sell your coins than going through the regular retail space of a dealer?

 

Enjoy yourself.

 

Be cautious about security.

 

Don't be in a hurry to spend your money.

 

If there are certain dealers whose tables you know you want to visit ,check the dealer list on the show website in advance, and make a list of their table numbers.

 

Have some pricing information with you and/or at your quick disposal.

 

Again, enjoy yourself.

 

 

 

 

[Danye West]

don't eat the hot dogs.

 

This.

 

Also, I wouldn't advise selling to a dealer at these shows unless its a high-value item.

[MarkFeld]

don't eat the hot dogs.

 

This.

 

Also, I wouldn't advise selling to a dealer at these shows unless its a high-value item.

 

I don't understand why you'd advise not to sell a low value item to a dealer at a show. If the seller can get a fair price, it doesn't matter if the item is high or low value.

[Danye West]

don't eat the hot dogs.

 

This.

 

Also, I wouldn't advise selling to a dealer at these shows unless its a high-value item.

 

I don't understand why you'd advise not to sell a low value item to a dealer at a show. If the seller can get a fair price, it doesn't matter if the item is high or low value.

 

I just don't find them to be very interested in those when I try.

[AHFreak]

I think as long as you find the dealers who deal in or specialize in what you are selling, you will be just fine regardless of the value.

[Tyler N.]

First, I would look at the dealer list. Check out as many websites as you can before the show. Make a list of the dealers that sell what you are interested in and note their table number. Visit these dealers first. After that, roam the floor and have fun. I would advise to take a pen and notepad to write down coins and the dealer who is selling the item. Instead of pulling the trigger too soon, write down some notes and revisit the dealer after you've seen a good amount of coins. This will help focus your buying, and it has worked well with me.

[James_OldeTowne]

I plan to attend the Long Beach Expo coin show in the LA market next week. I've never been to a coin show before, and I'm not going with any specific agenda in terms of buying anything, but I'll be open to it if anything catches my eye. Does anyone have any advice or tips with respect to shows? Are shows a better place to buy/sell your coins than going through the regular retail space of a dealer?

Stop by my table. I'll be delighted to just talk, and won't expect you to buy a thing.

 

Table 1151/1153 (it's a weird shaped table - just what you'd expect from me).

[physics-fan3.14]

Biggest tip - don't be afraid to ask to look at something.

 

If you don't have any intention of buying it, be honest with the seller, tell him you just want to learn (sometimes, if he isn't busy, the sellers will help teach you interesting things). On the flip side - if the seller is busy and his table is crowded, don't take up his time tire kicking. Let him conduct his business, and come back when he is less busy.

 

Also - try to control how overwhelmed you will get. When I went to my first show, it was a tiny local show in the small conference room of a hotel. There were maybe 20 dealers. Naive little 15 year old me was still overwhelmed.

 

Long Beach will have hundreds of dealers in a cavernous convention center, and thousands of people will be there. Billions of dollars worth of coins and money will be on display. You will get overwhelmed. You have never seen such a wealth of numismatic treasure.

 

"Billions"? I think not.

 

If the US Mint is there, they have a display they call the "billion dollar display," or something like that. So, at the very least, there is a single billion.

 

Perhaps I exaggerated a bit, but that is definitely how it feels.

[Nutmeg Coin]

On dealers going to the Long Beach show; how do they economize while not sacrificing quality of life issues there? I know a dealer from NY going there with his son next week who is holding expenses all told under $1K, airfares, table fee, motel; but he says the motels are substandard.

[James_OldeTowne]

On dealers going to the Long Beach show; how do they economize while not sacrificing quality of life issues there? I know a dealer from NY going there with his son next week who is holding expenses all told under $1K; but he says the motels are substandard.

I am doing the show on literally even less than that budget! I could not possibly afford to do the show if not for the accommodations provided by my best friend who lives in the area.

 

As to your "quality of life" question, I usually set me expectations for accommodations at a very low bar of "miserable". That way, anything better than "miserable" makes it seem like I had a good show.

[GoldFinger1969]

Just curious, since people who go to these shows apparently do so to "make money" and not just advertise themsleves for future sales and give out biz cards......how much money could a regular dealer expect to make at a show like Long Beach ?

A few thousand dollars ? Or 5-figures ?

[bourse28]

How much a dealer makes (or loses) at a show is subject to market conditions, people coming in the door who have money, people who will buy, competition, etc. People who have never taken a table at a show seem to have the idea its going to be some retail / wholesale bonanza for the dealer. Not easily or always the case......

 

Lets say a dealer spends $1000 in expenses just to set up at Long Beach. There is no guarantee he will make any money - he is in a $1000 hole before he sells a single coin......its like asking a coach "How many points do you think you will score in the game?" Until I tee the thing off I really do not know.

[Conder101]

Lets say a dealer spends $1000 in expenses just to set up at Long Beach. There is no guarantee he will make any money - he is in a $1000 hole before he sells a single coin.

And if he has a 10% markup that means he has to sell $10,000 worth of coins over the weekend just to break even. And there are shows that are a lot more expensive than Long Beach

[Nutmeg Coin]

A currency dealer told me he does great at Long Beach, people are flush with cash ready to buy. It is still the high end market that is thriving.