Why Are Coins OVERPRICED at Coin Shows?

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[ProjectEric]

I just bought a 1799 Draped Bust Dollar from my LCS. ANACS F12. Got a good price and if you look at the comps online it is very difficult to find one that is not details in some way, mostly due to cleaning. Nice to own one that is unaltered.

[adrianoc]

The whole market feels frothy at the moment- kind of like buying real estate in 2007 or 2019-2020.

I appreciate the dealers that are willing to be flexible, like the old comic book and card dealers in the 80s.

[Ontario]

Now I understand why I feel like I am wasting my time going to shows these days. There is almost nothing there that I am interested in. I still go to see friends and socialize. I have found currency at a fair price, but for the most part coins are just not there. I go home and search dealer sites or the auctions. I do try to get to the show on the first day, but I don't always make it. I really appreciate you sharing this behind the scenes information. 👍

[tylonnplatinumtherd]

Good behind the scenes info
I’ve found that if you want to get the best deals then you have to do what the dealers do. Look for collection dumps, sift through auctions, put in a lot of time searching and negotiate like a dealer.

[fjchris]

grey sheet keeps more people from buying than people buying.

[stephenvyskocil]

I found this extremely helpful and demystifying to similar situations I have experienced at coin shows. Thanks a lot for posting!

[fjchris]

never buy ungraded trade dollars .#1 most counterfeit coin

[darylcleavenger]

I've been a coin collector since 1985 and unless there is a coin show near me I don't go. I don't go to coin shows for the exact reason this video is titled. & dealing with judgmental dealers with some dealers who have ego's as high as their prices, ugh!. I only buy coins online or thru major online auction houses. Competition amongst dealers produce lower prices, that's a fact. If a coin show is nearby I might check it out but I doubt I'll buy anything other than supplies. ~I'm sure this might riffle some of you coin dealers, & hopefully so.

[pqtpat]

New sub - thanks for the knowledge. When’s giveaway end?:)

[singlesideman]

Also, I've found that really pricey coins are not as liquid - they don't sell as quickly - so you can often get a fairly good deal on them, and even find them at the end of a show and get a deal on them after negotiating a little bit with the dealer if he or she has a bit of wiggle room on the price. I always, always ask dealers if there is a little wiggle room on the price, with every coin I buy, especially if I'm interested in buying more than one from a given dealer. I don't expect a discount, but far more often than not I will get one.

[homerj]

Dealers at coin shows will always give better deals to their customers. Especially if they buy better quality. In the end the true value of the coins is not what some price guide say but how much people are willing to buy it. I have seen price drops on coins that were once popular go down and vice versa. What you think will happen to all those 2021 Morgan commemoratives when all of them have been slabbed and hit the market because people need the money.

[michaelgoodspeed]

Hey Drew, The 1897 Indian is PCGS PR65 CAC sorry for typo

[Jaythanc]

Great information. There are a lot of dealers these days.

[FirstnameLastname-vydg]

You gotta grow some on the sides if you cant use minoxidil on your face where your beard grows and eventually it will stimulate hair growth so you can grow a full beard

[dana]

Thanks Drew. Great and helpful insight.

[josephference]

Great knowledge learned. Thanks again.

[ProjectEric]

This was one of your better videos Drew.

[davidbell]

yes mostly they are overpriced, when you go to sell yours they lowball you or dont want it for any price

[MarcHasaraMarcHasara]

Never pay $11K for an ounce of silver no matter what the coin is. $11K buys 4.5 ounces of gold. That makes sense to me.

[TheClfurn]

Correct me if I am wrong. You over charge a collector to have them as a client? I am not sure I would want that dealer as my go to person. You don't want to sell to a dealer at a fair price so you don't feel like you are working for them?. So the worst place to buy coins is at a show, overpay to save time? Seems like auctions even with the buyers premium is a better way to go, provided the coins are real and graded appropriately.