Coin Show Help

[harvey8542]

I will be going to my first coin show this sunday. It is a small show compared to what you all talk about 40 tables. I will be going looking to buy things that I can resell and make a profit on. I may also pick up some things for my type set if available. Any advice on what I should expect or look out for would be very appreciated.Thank you Harvey

[WinstonWare]

That’s gonna be tough to make a profit at your first show. I guess I would advise against trying to that. Sorry, don’t mean to be a party-pooper. JMHO

[harvey8542]

That’s gonna be tough to make a profit at your first show. I guess I would advise against trying to that. Sorry, don’t mean to be a party-pooper. JMHO

Do you feel it would be better just to go and look around and experience the show? Possibly picking up one or two roosie or Merc's I need if I find any.

[bsshog40]

I enjoyed the first show I went to. I seen a lot of coins I've not seen before. I mainly went to enjoy and of course pickup a few little things. This was actually where I bought my first partial Lincoln Dansco album and got me into these. I say go and enjoy. I also carried a notebook that at least had all the up-to-date PCGS price guides with me. Have fun harv!!

[WinstonWare]

That’s gonna be tough to make a profit at your first show. I guess I would advise against trying to that. Sorry, don’t mean to be a party-pooper. JMHO

Do you feel it would be better just to go and look around and experience the show? Possibly picking up one or two roosie or Merc's I need if I find any.

 

Definitely! I would just be cautious about going in with the idea of making money. Keep in mind that the dealers peruse the bourse floor as well. I would think it would be difficult to walk in to your first show and do better than folks who have been doing shows for years. With that said, I would most definitely encourage you to go and try to find one or two coins that you think you are getting a fair or even good price on. It’s a good time and the experience of seeing so many coins is valuable.

[Houston Investor]

Look for stuff thats relatively cheap and fun - Like this:

[harvey8542]

Thanks all for the help

[physics-fan3.14]

Harvey, I'm really excited for you. I remember my first show as well, and it was even smaller than the one you are planning on going to. It was only about 30 tables, a small local show. I think those are the best for your first time, because you don't get too overwhelmed. Don't get me wrong, its still a grand experience with all the hustle and bustle, it's just not as huge and overwhelming. You get a good idea of what's going on, and it seems far more intimate. I wouldn't plan on trying to make a killing, either. While small shows are good for that sort of thing if you know what you are doing, your first time probably isn't the place for that.

 

My advice to you is when you get there, first walk around all the tables, and just see what's there. See what you like, see what you don't like. Talk to the dealers, tell them its your first show and take their advice. I know when I told dealers it was my first show, they were far nicer to me (of course, I was also 17 so they were probably trying to encourage me as a YN - I don't know how old you are.) After you walk around and get a lay of the land, then go back to the dealers that seemed the nicest or had stuff that you were interested in.

 

The other piece of advice I would give you is try and go on a Saturday, if at all possible. Sunday is not a great day to go, especially for the really small shows. Turnout is much lower, and the dealers are all tired and ready to go home. I've gone to some small (and large) shows on Sunday, and some on Saturday, and the ones I went to on Saturday were by far much better.

 

(One last thing, as an aside. I really like that image of the Mercs in your tagline. Very cool! :thumbsup: )

[harvey8542]

Thanks physics-fan3.14 for the advice. The show is a one day show on sunday so no choice of day's but I do plan on taking the advice to heart and going there and just enjoying the experience for the first time. As for the sig line banner I bought the Merc's from Space Monkey ATS yeserday and he was generous enough to make the banner for me. I love it

 

[DaveG]

Make sure you get there as early as possible - if the show is supposed to open at 9:00, you might be able to get in before that. (Some shows let the public in early and some don't.)

 

Most of the "easy" bargains will disappear early, as the dealers will sell to each other as they're setting up. (Also, dealers will be saving things for their best customers - who are frequently other dealers.) However, if your grading skills are very strong or you're looking for things that are a bit off the regular track, you may find some bargains.

 

As far as buying things for resale, it really depends on what you're looking for. Small shows tend to focus on lower-priced items. I go to one small show and there are a couple of guys who go through every foreign "junk" box, picking things out for resale. They seem to buy a number of coins each month, but it's pretty labor intensive.

 

Also, even at a small show, there may be a dealer or two who do a lot of wholesale business - their markups are smaller, because they focus on turning their inventory very quickly. At the small show I go to, there's one dealer who does a lot of wholesale - he has a box of coins that he only shows to his regular customers (it's mostly circulated better date US coins), but I see his regular customers buying a dozen coins at a time.

 

By the way, where is the show?

 

 

[Just Bob]

If Wisconsin is like Mississippi, you can expect to find lots of slabbed Morgans, ASE's, and type coins, plenty of proof & mint sets, books of circulated and uncirculated coins of all types in 2x2's, and a few junk boxes full of fun stuff. You'll also find dealers who are too busy for you, some who are grouches, and some (by far the majority) who will sit and talk coins for as long as you care to, (just don't hamper their sales) and are some of the nicest guys you could ever hope to meet!

 

Take your loupe, and try your hand at mentally grading some raw coins, and give those junk boxes the once-over. Check those 2x2's for some high grade BU's for your collection, and, if you don't see what you are looking for, don't be afraid to ask. There is only so much room on a table, and lots of dealers have stuff that isn't out where you can see it.

 

Also, look at things that you don't collect, like paper money, world coins, tokens, etc.- there is always something to learn.

 

Most of all, have fun!

[harvey8542]

 

By the way, where is the show?

 

 

Appleton Wisconsin @ the Wave Ballroom

[jgrinz]

It’s a good time and the experience of seeing so many coins is valuable.

 

When I go to my First one, Maybe in Boston, I am gonna have Winnie hold my hand through the experience - so you should listen to him. I might even let him talk me into buying a toned coin or two ... it may cost me a few Red Bull and Vodka's though ... he's a biiiiigggg boy !

 

[WinstonWare]

It’s a good time and the experience of seeing so many coins is valuable.

 

When I go to my First one, Maybe in Boston, I am gonna have Winnie hold my hand through the experience - so you should listen to him. I might even let him talk me into buying a toned coin or two ... it may cost me a few Red Bull and Vodka's though ... he's a biiiiigggg boy !

Hahaha. I didn't think you would even know about red bull and vodka.

[Catbert]

As a fellow newb getting back into the hobby, I would like to give you my advice. I went to my first show with a local coin club president who has a lot of experience. I went with a list of what I wanted to buy and did a quick search on-line (heritage and teletrade) for historical prices for these coins. I also had my greysheet handy along with my grading guide.

 

I surveyed all the tables slowly first a couple of times. I then asked to see certain coins from the few dealers that had something I found interesting. I asked for their best price. If something struck my eye, I then went to grab my experienced friend to come and look at the coin. We then privately discussed the condition and price together. This saved me several times from buying either over graded or over priced coins. I gained more knowledge and I reined in my impatience - not buying for the sake of buying.

 

I cannot over emphasize the value of going with an experienced collector who is willing to spend some time advising you. If you are part of your local club, I bet there are people who will be going to the same show and would like to share their knowledge with you. Just ask!

 

Also, if a table is slow and a dealer is willing to chat, ask them about their specialty/interest and get them to tell you about a particular series. There is much to be learned from friendly dealers if you can catch them during a slow period (lunch or late afternoon) when they are not busying selling.

[harvey8542]

Catbert Thanks for the advice I wish I had someone more experienced to go with but dont. I will be taking one of my son's with me. I think we will just be going to take it all in and mabeye check some junk boxes if we plan to purchase anything. I will let you all know how it went tomorrow afternoon.

[MunkyMan95]

Good luck today Harvey! Let us know how it all pans out.

[jgrinz]

I look forward to your FIRST coin show report