Many of you have emailed or called and asked where my latest (few) show reports were. Well candidly until this last Baltimore show there wasn’t really anything, good or bad, to write about. But you asked for them so here they are:
PHILADELPHIA EXPO by Whitman Coin and Collectibles;
A lot of people had mixed feelings about this show and it being held the week before Long Beach. Their worries were totally unfounded, unless you take into consideration ”THE UNIONS”. The show itself wasn’t half bad. It was well attended and we even did some business with local collectors. But the BIG scuttlebutt was “THE UNIONS” and how they KILLED IT. As in Whitman pulled the plug on this show. There will be no more Philadelphia Expos put on by Whitman. And it is all true. It’s sad. At least the local coin collectors have the option of traveling down to Baltimore. I wonder what all those union workers at the convention center will do for a living after they’ve run the last convention out of town. Honestly…I don’t care.
LONG BEACH COIN EXPO;
This on the other hand is a show that has over time worked out all the bugs and is now gaining momentum at lightning speed. As you will recall I have changed up my game plan quite a bit and this was the first show where I really implemented it. And it went really well.
I had fewer coins in my case for sale so that enabled a lot of the foot traffic to quickly pass me by. But the customers and clients that know what I’m doing were there and ready to buy. Again, I didn’t sell a lot of coins, just some really COOL ones. You know the kind; coins that you have a hard time putting down until you’ve got the deal done. One of my clients was so excited to get a very special piece there that I actually started to visualize him as an 8 year old getting a “Red Rider” BB gun for his Birthday. I don’t know who smiled bigger…him getting the coin or me seeing his enthusiasm.
As usual PCGS was there doing on site grading. And as usual they did a great job with the product they put out. They hobby sure has come a long way since I attended my first Long Beach way back in the early 1980s…
THE SILVER DOLLAR & RARE COIN EXPOSITION;
I didn’t go. For the first time in many, many years I didn’t attend one of the three major shows held in the greater St. Louis area. And for good reason…I took some well deserved time off and went out to Montana with some friends. Sometimes you just gotta get away.
From what I heard though if one was to miss a St. Louis show, then this was the one to skip. My colleagues who did attend told me that the public attendance was down, and virtually no deals broke there. Guess I picked the right one to bail on.
PCGS MEMBERS ONLY SHOW;
This was held the same week as the above mentioned St. Louis so I wasn’t there either. I did however send some coins out there to be graded. Not a lot mind you, but some pretty neat ones. And as I expected PCGS did a great job. Reward the really fresh pieces and spank the tired old sometimes altered ones is what I say. And that is exactly what they did.
So now we’re all up to speed and are on real time. I got down there on Wednesday with the intention of looking at the entire Stacks/Bowers auction hoping to pick out the best and try and buy them for inventory. Well that did not go as planned. From the time I got down there until early evening on Wednesday I was busy looking at some coins from my many contacts. It’s that whole relationship thing I keep talking about (got it in there didn’t I). In this business first shot at a fresh deal means quite a bit. So when the opportunity arises, I jump on it. And as you probably figured out, it worked out. I bought what was in my mind one of the freshest groups of coins to show up there. Some needed to go to PCGS and some were ready for sale, but most of them have made it to my web site by now (in fact they were posted yesterday and several have already been sold as I write this).
From talking to my friends who also had tables there it seems like it was a pretty decent show all around. I’m not saying that the market is on fire, but it is very healthy from all indications. It kind of seems that those people who do have a little extra money are looking for ways to get rid of it. Coin collecting is an easy and fun way to do just that.
ERIC P. NEWMAN AUCTION
For the last few months the Numismatic Community has been abuzz with the upcoming Newman sale. And rightfully so. I have seen all these coins up close and must say that there are some really spectacular pieces in his collection.
Since the first section of Mr. Newman’s coins were sold back in April of this year in Chicago, there has been a lot of talk about what would be in the next group. Folks they are really cool. So cool that Heritage had many of the highlights available for viewing at the ANA this past August and collectors couldn’t stop talking about them. I spoke with several of my clients and customers (who I will be representing later this week) who actually decided to “keep their powder dry” until this sale. I expect a blood bath and that is okay.
Garrett. Eliasberg. Norweb. Pittman. Every time that these types of collections come up they bring run-a-way prices for the time. And the really special coins without a doubt seem like they were bargains a few short years later. Make no mistake, the same will happen in this session of the Newman collection. I really believe that there will be some absolutely stupid prices realized. Stupid today; smart tomorrow.
So if you want to buy some really neat coins in this sale, sharpen your pencil, figure out the most you’d pay. Then double it. And then add ten percent on top of that just for extra measure. Then maybe, just maybe, you’ll end up with a coin or two you will cherish for decades to come.
So there you have it. My latest attempt at writing. I’d like to tell you that I’ll have a report on the Newman auction up early next week but you and I know the odds of that happening. But hey, you never know.
Remember…I love to talk coins.