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Tips on Offering Coins to Dealers on the Show Floor

Originally published on March 17 2015

In yesterday's blog, I mentioned the need to buy new inventory at Baltimore and hope that GFRC customers would be offering at the show. Let's discuss this topic a bit further this morning. Based on past show experiences, wholesale dealers and individuals use several different approaches to sell me coins. Some methods are straightforward while others are not. The quality of the overall sales conversation and transaction is typically a function of how well the seller prepares and understand his/her product. Let's walk through a few scenarios and see if you can identify with these.
As you can probably tell, I've listed the different sales approaches from least to most desirable. Dealers spend substantial monies to attend a large show and their time is valuable as show expenses cannot be recovered unless the dealer is activity engaged in transactions that generate some profit. Many inexperienced collectors may not understand this point as their visit to a major show is hobby based and recovering show travel cost is not paramount. Dealers who typically attend one major show per month have an alternate perspective and must work hard to first recover show costs before the event can generate profit.

So back to the different seller's approaches...if you approach my table and wish to have an enjoyable discussions and potential sale, then please do advanced research on the potential value of coins being offered. There are enough online price guides coupled with Heritage Auction Archives to arrive at an asking price. I will typically not engage the Make Me an Offer individuals unless the coins are truly special. The surprise factor with the Potential Purchase but Contingent on Trade individuals leaves me feeling used...enough said here, please don't use this approach with any dealer and be up front on the payment method.

I truly enjoy looking at offered coins if the sellers have done their homework. The well prepared Are You Buying and Vest Pocket/Wholesale Sellers approaches will receive my complete attention with quick reviews and most likely, a purchase. These individuals understand how to sell coins to dealers in an efficient manner while building a business relationship. If you are a collector and plan to offer coins at Baltimore, then please carefully research the potential value of your items and have an initial asking price to start the dialogue. You will find dealers able to render rapid buy or pass decisions and will likely explain why they passed if asked.