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  1. #1
    us
    Dec 2009
    U.S.A.
    ACE 250; Lone Star
    1,932
    195 times
    All Types Of Treasure Hunting

    My First Coin Show

    I will be attending my first "coin show" in May. Just want some thoughts and comments--the do's and dont's, so to speak.

    I love the beauty of the Peace Dollar. To me, she is the spectacular image of democracy. Powerful, but the female image portrays compassion (sorry ya'll--that's the historian in me--that is, I interpret everything!) So, my gut feeling is to purchase what I can afford of this particular coin (I only have one). Also, I don't have a single Indian Head cent, and would like to have a few of these, too.

    I will take my Red Book with me, but I think it would be in bad taste to whip it out of my handbag.

    Do dealers negotiate prices? I don't want to insult anyone.

    Thank you,
    apush


  2. #2
    Charter Member

    Jan 2007
    1,224
    29 times

    Re: My First Coin Show

    Yes dealers negotiate. First thing you do is walk around once and don't look like you are drooling. If you want some Injun Heads, see who has them and compare prices. You will find a lot of high priced coins in slabs and cardboard but you are looking for a coffee can or a small pile to pick from. Every coin dealer has a red book,they are not intimidated by you having one.

    When Moses came down with those 2 tablets,Rule #1 says whoever owns the coin thinks it is in better condition than whoever wants to buy it.

    Just have fun, set a limit for yourself, and stick to it, there will always be another show full of coins in your future. Jim
    -

  3. #3
    us
    Jul 2008
    Santa Fe, New Mexico
    Whites, MXT.
    4,202
    940 times

    Re: My First Coin Show


    apush , You are in for some fun - just looking at all that eye candy ! If I was in your place
    with an interest in purchasing a few peace dollars , I would go through the whole room ,
    looking for common dates (affordable ) in mint state 63 grade or higher - if this term is not
    clear - check your redbook - In nicer grades 63/64 , your coins will certainly hold value , and
    may well improve -much more than heavily circulated pieces . I will readily admit that any but
    most common in these high grades would be out of reach for my budget . Argentium.

  4. #4
    us
    Dec 2009
    111
    1 times

    Re: My First Coin Show

    Having a red book available there is good, but I'm not sure about busting it outta the handbag at the table. Maybe check a table and look at some coins you are interested in then walk and bust the book out to check prices. Most shows have loooooots of nice Peace and Indian Heads around....might even find a few in half price bins.

    My addition to that is PCGS, NGC, and ANACS cased coins are graded third party by trusted graders so finding them in slabs is alot better than guess the grade.

  5. #5
    us
    Dec 2009
    Brookland, AR
    E-trac, White's DFX
    2,028
    657 times
    All Types Of Treasure Hunting

    Re: My First Coin Show

    Dealers will absolutely negotiate. Most price their items a little higher than what they will accept to "leave room" for negotiation (especially the higher priced items). The more you purchase from a single dealer, the better price you are likely to get. Shop around - you will likely be amazed in the difference in prices from dealer to dealer. At least in my limited experience, the absolute best time to get a really good deal is in the last hour of the last day of the show. Good luck!

  6. #6

    Dec 2006
    Twin Cities, MN
    Garrett Ace 250
    2,379
    40 times
    All Types Of Treasure Hunting

    Re: My First Coin Show

    Quote Originally Posted by ArkieBassMan
    Dealers will absolutely negotiate. Most price their items a little higher than what they will accept to "leave room" for negotiation (especially the higher priced items). The more you purchase from a single dealer, the better price you are likely to get. Shop around - you will likely be amazed in the difference in prices from dealer to dealer. At least in my limited experience, the absolute best time to get a really good deal is in the last hour of the last day of the show. Good luck!
    That is definitely true if it's a bulky item like a 5000 count bag of wheats or something like that.

    You can take the Redbook with you if you want, but remember that it only changes once per year and the actual prices are constantly changing. So depending on what you are looking at, the prices may or may not still be accurate. I have never had a problem asking to borrow a dealer's price guide, or see a grey sheet if I was unsure or questioned what I was paying for something. As a general rule, dealers like to charge a fair price and will justify their prices based upon the price guides/grey sheet so I personally don't see much down side to looking at one other than you are likely to not ever get a great deal that way because the dealer will also know if it is priced below value before the sale (usually they know this already, but not always). Also, by looking at a price guide you are showing you may not be a super knowledgable collector and may not be an expert at grading coins. Don't forget, your feet are almost always a good negotiating tool if you think a price is too high or disagree with the grade on the coin. A dealer will make no money if the customer walks away...

    The best bet is to know what you want to buy (or look at) and have some idea of what a fair price for the coins are ahead of time.

    Good luck!

  7. #7
    us
    Jul 2008
    ohio
    ace 250
    495

    Re: My First Coin Show

    Red book is my bible and I like you love the peace and morgan dollars all the proceeds from my copper penny sales have been rolled into silver dollars for retirement.

  8. #8
    us
    Dec 2008
    in my own little world :)
    Fisher 1280x Minlab E-Trac Garrett Pinpointer
    369
    1 times

    Re: My First Coin Show

    The red book is fine. But!!! the black book will give you a better idea of
    the best price. And, the grey sheet will give the very best price.!!
    The dealers all use the grey sheet to buy coins from.
    There is a huge!! diff in price.
    You can get a single copy of the grey sheet from their web site and
    be ready to see what they paid for the coin an an idea how much
    they might be willing to make on it.
    If, ya need any help with getting the grey sheet send me a pm.
    Other wise "enjoy"!!! you will love every minute you are there.!!
    hh gl
    dan

  9. #9
    us
    Oct 2009
    1,023
    10 times

    Re: My First Coin Show

    If your gonna spend a decent amount of money [or sell] make sure you shop around. I lost $175.00 when selling about 14 rolls of 90% halves by not asking the table over what he was willing to pay. I will be going to a show on friday. Each time i go i get a little more savy.

  10. #10
    us
    Jan 2010
    1,699
    44 times

    Re: My First Coin Show

    apush,
    Peace dollars are common and usually in very nice condition for about $19 in my neck of the woods. Could vary where you are, but I wouldn't pay over $20 for a common date in AU condition.
    rileyboy

  11. #11
    us
    Kerry

    Jan 2009
    Michigan
    Garrett AT Pro, Garrett Pro-Pointer
    178
    30 times
    All Types Of Treasure Hunting

    Re: My First Coin Show

    If you buy a slabbed coin stick to reputable companies, there are a lot of fly by night slab companies that misrepresent the coins condition and value.

  12. #12
    us
    Feb 2010
    Chesapeake Bay VA.
    Whites XL PRO
    54

    Re: My First Coin Show

    apush,

    Peace dollars are a beutiful coin, I think much more so than Morgans. One thing I have read more than once, is buy the key dates first, if you can afford them as they are the ones that will increase in value quicker than the common dates. That would be the 1921, 1928, and I think the 1934s. A complete set of slabbed Peace dollars should be obtainable over time in say, MS or mint state 63.

    MS65, while gorgeous, would be much more expensive. I have been thinking of starting a set of Franklins in MS64 FBL. (Full bell lines.) Hope this helps.

    Bud
    Bud

  13. #13
    us
    Feb 2010
    Chesapeake Bay VA.
    Whites XL PRO
    54

    Re: My First Coin Show

    Here is a link to see what they should look like and give you some ideas on prices.

    http://coins.ha.com/common/view_item...39&Lot_No=9484
    Bud

  14. #14
    us
    Feb 2010
    Chesapeake Bay VA.
    Whites XL PRO
    54

    Re: My First Coin Show

    apush, I had no idea the key dates had risen so much. I would look at AU about uncirculated, for the keys. I am stuck back in the eighties I guess. The common dates are still afordable.
    Bud

  15. #15
    um
    Jan 2010
    Fisher F2
    902
    2 times

    Re: My First Coin Show

    Red Book is retail. Grey Sheet is your best guide to have . That is what they will be going by. I saw you mentioned a handbag. That gets dealers REAL nervous. Lot of theft at coin shows. Leave the bag in the car, or better yet at home. Cars get broken into at these things too.
    I was just talking to a dealer who said a friend of hers who was also a dealer went into the show for a few minutes to look at the setup and came back to find the whole lot he brought with him was stolen.

 

 
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