Monday, November 1, 2010

Zurich Coin Fair 30-31 Oct 2010

The Zurich coin fair which is held once every year has numismatists from Zurich, Basel, Geneva, St Gallen and a few smaller cities. In addition UBS has a speed auction where you have a variety of coins and lots auctioned at a fast pace.

The numismatists at the coin fair offer from ancient to modern coins. They have copper, silver and gold coins. If you have a large list of coins from different countries it is more likely that you will have to visit various numismatists. Not one numismatists has all the coins that you need because they usually bring a small stock or are specialized in a type.

The coin fair was at the Swissotel which is chain of Swiss hotels. The hotel is in front of the Oerlikon Train Station which is about two stops from the Main Train Station. The hotel is very nice and offers a variety of services which include spa, gym and swimming pool. 

Staying at the hotel was a good choice because it was in the same building as the fair and one can enjoy the hotels amenities once the fair was over.

I had a small list of coins I wanted to get thus it was easy for me to look around for nice coins at a nice price. I was also able to talk to some people that I have met in the past. Usually it is good to talk to this people because they have a lot of information about coins and they will help you if they have time.

There were a lot numismatists selling gold coins since gold coins have been popular. One thing I found was that prices for coins of the same type and year varied greatly. You would be able to find a Swiss 20 Fr Gold coin for 255 with one numismatists and 275 with another. So I had to be careful not rush into buying a coin.

Although I did not participated in the UBS speed auction, I have the opportunity to sit down and watch. The auction was going fast thus the participants would have to make sure that limits were put on their bits because one could easily get got in a biting war with someone else.

I had no idea how the speed auction worked so I asked a lady working for UBS and she kindly explained to me the process and requirements to participate in a speed auction. It is actually fairly easy, you show up, give UBS your name then you are given a number. The auctioneer will start with the starting bit and from their people will raise their number if they are willing to pay the auctioneers mentioned price. If you win the auction you wait until the end of the auction to pay and pick up on the spot your winnings.  One thing about the auction, you pay the biting amount plus the auctioneers fee.

I spent only one day at the coin fair but it was enough to see and pick up what I needed.