Attending a coin show is a great opportunity to see a large selection of coins and bullions on sale in one place. First timers to these events are often stunned by the amount of gold and silver coins that are on display under one. In fact, no matter how often you attend, seeing all those precious metals in one place never fails to impress.
Aside from the main reason for shopping at a coin show, which is the large selection of goods on offer, there are also other benefits to be had from visiting one of these events in order to make a purchase or see what is available.
The Benefits of Coin Shows
Coins shows are a great way to meet up with likeminded individuals who all have a shared interest in some form of coin and bullion collecting and investing. They are great places to get the latest news and views on the world of coins and precious metals.
If you want a chance to talk to other collectors and dealers and find out more about their products and how the market is doing, a trip to your local coin show should not be missed. The networking opportunities on offer should not be overlooked by those wishing to make some connections in the industry.
When buying at a coin show, is it uncommon for sales tax to be applied to the price so it can be a great way to obtain a small discount, depending on whether you do your research beforehand or not (see below).
When this is combined with the fact that you won’t be paying any shipping and handling for your purchase and can walk away with it on the day, it can be a considerably cheaper way to shop when compared with online gold shopping.
The Drawbacks of Coins Shows
One of the downsides of shopping for gold at a coin show is the difficulty in ensuring you are being quoted the best price for the items you want to buy. This is more pertinent for those new to investing in precious metals, but it can apply to even seasoned collectors at times.
Shopping online, from the comfort of your own home, allows you to research and compare prices in order to check whether you are being quoted a fair price or not. You can take your time with your purchase and mull over the options for a few days.
However, at a coin show it can be hard to ascertain if the prices you are being quoted are fair as it is difficult to compare items and prices with other vendors, especially if the item is not carried by anyone else at the show.
As coin shows are only usually in town for one or two days, the buyer has only a short period of time to decide whether to make their purchase or not. Due to these issues it is not uncommon for buyers to pay over the odds for an item.
Coins shows can be intoxicating places. All that gold and silver under one roof as well as all the excitement of the bourse floor can create a heady experience. For the inexperienced, it can be easy to get caught up in the excitement of the gold rush and buyers can sometimes finding themselves overstretching their budgets and making more purchases than they intended to.
To avoid this happening, only take as much cash with you as you are able to spend. That irresistible offer that seemed too good to pass by might not seem such a great purchase in the cold light of day, once the coin show has rolled out of town.