Attending 1st coin show, what to expect?

[MarkVIIIMarc]

This event is near my home and is near free so I was planning on going by. Information seems scarce. http://www.stlouiscoinclub.com/

 

I figure the fellows who rent floor space there to sell coins probably won't accidentally give anything expensive away on the cheap but I am hoping to see some quality old coins in person.

 

What should I expect? What should I do? What should I not do besides bring my 4 year old?

[jpcienkus]

I expect you'll be a little nervous and wanting to buy something. At least that's how I felt when I attended my first show.

 

1) Take your time, visit all the dealers before making a decision, unless you find the spectacular coin right away.

2) Prepare a list of what you want to add to your collection by grade with prices

3) Bring some kind of pricing reference for when you find that "unexpected" coin

4) Have fun.

5) You don't have to buy a coin at the show.

[cpm9ball]

Be sure to wear your coin camo so the dealers won't know you're a newbie.

 

Most important of all, be sure to carry a bag or two of Doritos to feed the animals.

 

Chris

[Mr.Mcknowitall]

This event is near my home and is near free so I was planning on going by. Information seems scarce. http://www.stlouiscoinclub.com/

 

I figure the fellows who rent floor space there to sell coins probably won't accidentally give anything expensive away on the cheap but I am hoping to see some quality old coins in person.

 

What should I expect? What should I do? What should I not do besides bring my 4 year old?

 

Don't buy. Look for the educational opportunities. See how the different Dealers interact with the public. Are they helpful? Are they willing to take a few moments to chat and share?

 

Pick a coin, any coin. Then, hunt the coin down at several Dealers. Study the difference between the coins, and the stated (if any) Grade. Give yourself a time limit, say 30 seconds a coin. Don't give to much weight to price when doing this. It is just an exercise in coin comparison. It is fun to do, and slows down the hectic pace of our brain yelling "buy, buy, buy".

[jom]

This event is near my home and is near free so I was planning on going by. Information seems scarce. http://www.stlouiscoinclub.com/

 

I figure the fellows who rent floor space there to sell coins probably won't accidentally give anything expensive away on the cheap but I am hoping to see some quality old coins in person.

 

What should I expect? What should I do? What should I not do besides bring my 4 year old?

 

Don't buy. Look for the educational opportunities. See how the different Dealers interact with the public. Are they helpful? Are they willing to take a few moments to chat and share?

 

Pick a coin, any coin. Then, hunt the coin down at several Dealers. Study the difference between the coins, and the stated (if any) Grade. Give yourself a time limit, say 30 seconds a coin. Don't give to much weight to price when doing this. It is just an exercise in coin comparison. It is fun to do, and slows down the hectic pace of our brain yelling "buy, buy, buy".

 

^This....

 

You are going to want to buy. I would avoid purchasing anything even if "spectacular" because chances are you don't know what "spectacular" is anyway. If you make a bad purchase it could disappoint you and turn you off to collecting. Just look at much stuff as possible....

 

jom

[19Lyds]

This event is near my home and is near free so I was planning on going by. Information seems scarce. http://www.stlouiscoinclub.com/

 

I figure the fellows who rent floor space there to sell coins probably won't accidentally give anything expensive away on the cheap but I am hoping to see some quality old coins in person.

 

What should I expect? What should I do? What should I not do besides bring my 4 year old?

Well.

 

How did it go and what did you do?

[bstrauss3]

Expect to feel overwhelmed... even a small show [and this sounds bigger than the 20-table variety] will have 10,000 or more items to look for.

 

Bring a magnifier or loupe and maybe a flash light. And a small note pad & pen. And your grading book [or the app on your phone].

 

I would recommend picking ONE thing. Something you are interested in, but haven't seen a lot of. Know what it should sell for... ask, look and ask. Note the price and dealer and move on.

 

 

Let's say a 1929 Lincoln Cent in AU. should cost about 2-3$ [http://www.numismedia.com/fmv/prices/lnccnt/pricesp.shtml]. You saw the movie and want the coin.

 

Many dealers will have binders of such lower value coins you can flip though. Sit down and look. Pull the 2x2s out of the page and compare them to your grading book. If you find a candidate, ask the price. If it seems reasonable, you can buy it. Or try another dealer and come back.

 

See how that cuts 10,000 items down to 2 or 3 at a time?

 

Use it as a time to look at a lot of coins. Learn how they should look. Dealers will have 30 and 50$ examples in mint state. Free to look, so look. How does a mint state coin differ from that barely worn AU example? See where the high spots are that wear first? So next time somebody shows you a 'BU' coin with those same wear spots, you'll know it!

 

You'll make mistakes. That's life. Better a $2 mistake than a $20,000 one. Kiss a lot of frogs [look at a lot of coins].

 

Oh yes:

 

HAVE FUN!

 

 

 

 

[RWB]

Hunting is what makes these shows fun for most collectors....Many times you will leave without buying anything - that's OK - you likely learned much (and got indigestion from the alleged food they served).

[Raisethis2]

I tend to disagree with all of the above in this way. I think you should leave the house with the intent of buying something. Know what grade you want it in, "the look" you want and determine the price you're willing to pay. E-Bay actual auctions are a pretty good source for pricing in a pinch.

 

Most Dealers display their stuff without prices, accordingly, if you find what you're looking for and like it, ask, "what's your best price on this". They will shoot you a price, then hand it back and say " I'll keep it in mind".

 

Prior to leaving and after seeing what's available, if you've found something suitable, in your price range, go back. Dealers prefer cash, the price shouldn't be too far( 10 - 20% over) from Grey Sheet ASK on most common coins. Buy NGC or PCGS graded coins, don't gamble with raw coins until you know more than the Dealer about them.

 

Going home empty handed is no fun, then again, don't spend your entire coin budget either.

[DaveG]

You might want to keep these things in mind:

 

There are several shows around St. Louis each year, so don't feel you have to rush. You should budget enough time at the show so you won't feel rushed and you'll have enough time to see everything. There are 100 tables - spending a few minutes at each table adds up to a pretty full day.

 

Look over the list of dealers - make plans to visit the tables of any dealers you may want to meet or who carry your kind of coins.

 

Pay special attention to the displays and educational tables, if any. Consider joining the sponsoring club - you'll get to meet other collectors and there are some real benefits to being a member of the "club."

 

The first time I went to a coin show, I felt a huge urge to buy something. To prevent making a rash purchase you might regret later, pick out a couple of inexpensive target coins and buy one or more if you feel the need to buy something. (You're right - the "bargains" will mostly be long gone. The dealers and experienced collectors will have gotten them already, so don't worry about it.) In any event, a show is a good place to comparison shop; it's unlikely that only one dealer will have an example of what you want, so shop around.

 

If there's a book dealer there, give serious consideration to buying a book and reading it - an educated collector is a much smarter collector! Even if you don't see a book you want to buy, spend some time browsing - you'll be surprised what you can learn!

 

Collect as much free literature and club/show flyers, etc. as you can. (make sure you bring a bag with you).

 

Most important - learn when the next shows are and make plans to attend.

 

One show is never enough!

[MarkVIIIMarc]

Thanks for the tips.

 

I will have to hit up another show elsewhere or bring more cash. There were two bucks in my pocket, enough to get me and someone else in but I couldn' figure out the free part of the parking unless they wanted me to park in on that alley or whatever behind the Hilton or maybe they'd give me a pass once inside or whatever. I just didn't feel like dealing with it. Our airport area is older and weird eco/politically. Neither it or the mini city of Edmundson is a great place to park your car unattended (and my Mustang's wheels and tires come from Zisser which at the heart of our Ferguson riots!). I was unprepared for the giant gated compound the Hilton has become.

 

There will be another show someplace else I am sure and there is always fleabay!

[DaveG]

Here's RYK's report from ATS: Link

 

It doesn't sound he found the show very interesting.

[Raybo55]

Just shop.

I love coin shows, yours seem to be quite large, take your time and compare.