UHF band passive RFID systems are being steadily adopted by industries because of their capability of long range automatic identification with passive tags. For an application which demands a large number of readers located in a limited geographical area, referred to as dense reader mode, interference rejection among readers is important. The coding method, baseband or subcarrier coding, in the tag-to-reader communication link results in a significant influence on the interference rejection performance. This paper examines the frequency sharing of baseband and subcarrier coding UHF RFID systems from the perspective of their transmission delay using a media access control (MAC) simulator. The validity of the numerical simulation was verified by an experiment. It is revealed that, in a mixed operation of baseband and subcarrier systems, assigning as many channels as possible to baseband system unless they do not exploit the subcarrier channels is the general principle for efficient frequency sharing. This frequency sharing principle is effective both to baseband and subcarrier coding systems. Otherwise, mixed operation fundamentally increases the transmission delay in subcarrier coding systems.