By Richard Schwary – California Numismatic Investments
I just finished with the June 2011 copy of The Numismatist, which is the 120th Anniversary Convention Issue, and contains all the important information about the upcoming ANA World’s Fair of Money held August 16-20th of 2011 at the Donald E. Stephens Convention Center in Chicago. There is also the ANA/PNG Pre-Show August 13th through the 15th so if you want to get started early the water is fine (www.worldsfairofmoney.com).
I have always recommended a coin show or two as one of the best ways to really learn about numismatics, but if Chicago is too far away consider visiting a local show as there are many across the country. Shows usually break down to regional affairs and club shows which can be smaller, but not necessarily, and large national meetings which attract dealers from all over the world. You can be sure that if the American Numismatic Association puts on a show it will be worth attending and also offers a great deal of free educational forums presented by the really smart guys in this trade. Shows house and showcase the big money in this business, but are also family affairs which have something to offer everyone interested in numismatics.
And if all of this is new to you but sounds interesting why not consider finding a copy of the June 2011 The Numismatist, which is a wonderful periodical printed and issued by the ANA for more than 100 years. Now if you were a member of the American Numismatic Association you would receive your copy free on a regular basis, and it would also contain important information about all things relating to coins, banknotes, tokens and general information relating to this wonderful hobby. You would even have free access to the amazing ANA Library named after Dwight Manley. All of which makes you a smarter and more informed numismatic buyer and all the fun part is thrown in for almost nothing. So what are you waiting for? Why not find out more or better still join the ANA for a pittance at www.money.org?
And while we are talking about the ANA let me share Larry Shepherd’s excellent article included in the current The Numismatist. Larry is the ANA Executive Director and his leadership is top notch in my book.
Bourse Etiquette by Larry Shepherd
(1) Don’t interrupt a dealer and customer who are talking or in the middle of a transaction. Don’t ask to see the coins being discussed or inquire about their prices.
(2) Do return to the dealer’s table when he or she has concluded the transaction.
(3) Don’t block customer access to a dealer’s table.
(4) Do spend some time learning before you buy.
(5) Don’t search a dealer’s entire inventory for the best pieces, then expect him to sell you the coins at the wholesale price.
(6) Do allow the dealer to make a reasonable profit.
(7) Don’t try to negotiate when the price is fair. Ask for a discount only if you truly believe a piece is overpriced.
(8) Do ask permission to show a coin to another collector or dealer for a second opinion.
(9) Don’t buy a coin on the first day of a show, then try to return it on the last day because you found something else.
The U.S coin shows sound amazing, an incredible opportunity to network and possibly find the coin of your dreams. In South Africa, we don’t have shows as big as this, though we are working hard to try and make the public aware of the huge potential and benefit of investing in rare coins. Here, they are deemed as ‘collectibles’, so they don’t attract capital gains tax (CGT) when sold, does the same apply in the US?