How Much Money Should I Make at a Coin Show?
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- Опубліковано 12 лют 2022
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Ben The Coin Geek
Old Pueblo Coin
Great background information. A small rate of return over and over again is better than a large rate of return every once in a while. Connections are key to success. Thanks for the video. 👍
I haven't been to a lot of coin shows. But I did go the Ottawa Westboro Coin Show which is a small marketplace type show that meets almost monthly. I walked the show with my camera (asking permission of course) and it proved to be one of the best things for my channel and it helped build traffic to the local coin show. I picked up a few items from this show. Did not go prepared to spend but I made some solid connections at the show. It was win win. Did they make a lot of money off me, no, did I make a lot of money. No. But it was definitely worthwhile and builds on my future.
Two things to consider. 1) How much inventory am I bringing to a show, and 2) What percentage of what I am bringing am I expecting to sell? If your goal is $1,000 in profit with say a 33% profit margin and $200 in expenses, and figure you are going to sell say 20% of what you brought, you have to bring 5x(3000+600)=$18,000 worth of inventory to the show. If you are bringing a bunch of type coins and foreign, you might struggle to sell 20% even if you have them priced reasonably low.
Tremendous value in all the connections made at the show like you said. Some of those may pay off way down the road
" I had a great time, and I made a lot of connections !" Great statement, Ben, which proves that you´re a smart one. Greets from GER, U.
I loved your fishing analogy. I've used it many times. Something I've noticed at the shows I attend is that sometimes I may not sell that much or 'make' that much but I do buy some good material. That can be important down the road at other shows. Also, all shows are not the same - the material that sells well at one show may or may not sell well at another.
I knew a coin dealer who had specific money that he had to make for a show to be worth it. He had pretty high volume at his shop so he didn't need shows as such. Some other dealers I've known will go just for the contacts and whatever business they could pick up. I 'd think it's all about what you want, personally.
Great take to a seemingly simple, yet surprisingly complicated question.
$6,000,000 so you can buy that cool Steve Austin gear...
Ben with bionic arms and legs would bring so much to the hobby.
The Six Million Dollar Ben would be a blessing on generations of coin collectors.
I think dealers who aren't looking at the money first are pretty rare. I'm a online buyer and I make fair offers on coins, but often I'll get a message back that tells me, "Well, I have $x in the coin itself and $y in grading fees, so I need a bigger offer". It doesn't matter if YOU spent too much on your coin: it only matters what the market value is. And a year later the same coin still hasn't sold. Smart dealers don't need to make a buck on every single transaction.
Went to the coin show in Pa yesterday every. Every morgan and peace dollar under 100 was bought in the 1st hour. beside 5 highly poshed 1921s.
Wow! Didnt think you would make a whole video on it.
Ben the coin philosopher
You wanna make as much as you can!!!
I thought we go to coin shows to lose a bunch of money. 😆
Whatever the market will bare .
I'm a small company but i usually make a few thousand at least.
Double the expenses, go there for the fun and contacts. Easy answer
Hey coin geek just wanted to give you a heads up and I sent that 83 to great collections for auction last week for now how you feel about it but just wanted to give you a heads up
I need too go to a coin show.....
Hi. I have a question. I am new and tried to sign up for a coin auction, and they told me i need a reference from another coin auction. How do I get to participate for the first time, since it seems all coin auctions are demanding a reference. Catch 22 situation...
millions of dollars in your mind but in real life you answered the question in a open ended way with out a straight answer.
As much as possible. Amount? Who knows
Ben. Ben. Just tell me the number. Haha.
Hey Ben. I have a different question. How much money should I TAKE to a coin show? Cash appears to be king but are there any options? I get a little nervous walking around with a lot of cash.
Talk to your bank. A lot of times it is easy to get the MAC limit raised on your account. If you have a $2500 limit on your MAC card then you can carry far less cash.
@@silvadelshaladin - thanks for the suggestion. I guess I will find out this week at Long Beach how many dealers accept MAC cards.
@@TiHerr74 They typically have MAC machines on site or there is one close-by even if they don't allowing you to easily draw money at need rather than just carrying it. But yes, there are a lot of dealers who accept plastic in one form or another as well. MAC is a lot better than a CC if they do as the rates are lower.
if you are selling at a show you should make as much money as you can
$10
wow, alot of words to say very little, Long winded and very confusing.