Grapevine Texas Coin Show Report
SurfinxHI
Posts: 2,452 ✭✭✭✭✭
Here goes my coin show report, from the guy behind the table perspective. That is, the little, little guy behind the table, not the big fish in the pond sort of fella.
The Grapevine show is held 4-5 times a year in Grapevine, Texas (near DFW airport). It is a well organized show (Texas Coin Shows is the promoter), with signage and advertising in all the good places. Many dealers are regulars at it, and I'd likely call it a "small regional" show, as it attracts dealers and vest pocket dealers from Texas, Oklahoma, Arkansas, Louisiana, (and Hawaii!) etc. About 75 tables or so, in a large, well-lit room. All tables were clearly marked to dealer name, etc. Set up and "early bird" was Friday from 10-2, with the public from 2-6, then Saturday 9-6, and Sunday 9-3. Getting in and out was a snap, and there were offers of help by all the staff if it was needed (we are small, so no need).
Friday appeared to be pretty slow, but after about 3 it picked up. There was plenty of dealer to dealer action throughout the day as well, and I heard of several large deals occurring. We had a decent set up day, clearing costs for the fees etc through several sales to the public that afternoon. I would argue that most of the public during that period was in the 50+ crowd, really about 60+ or so. Often, on these boards it is argued that this is a dying hobby and shows are dead....from the Friday perspective, one might have argued that, except for at least 4 of the dealers were in the under 50 crowd, several of them in the 30-40 crowd.
Saturday picked up really nicely, from about 10 am to about 430 pm. Business across the bourse was hoping, and I'm pretty sure all that "buzz" folks talk about was happening. We did well that day, from horse-trading coins to selling a few at retail, but most was sold at "sheet" to vest pocket dealers or other dealers. Several dealers told me that the vast majority of their business was retail, which is a good thing. In terms of age, Saturday was a huge mix, to include many younger collectors (10-15 years old), plus a number of first time coin show attendees that I would put in their late 20's to early 30's. And they were buying, and they were happy with the experience (if not overwhelmed a bit by the volume of coins to be had). It was fun to interact with them, and help steer some buying experiences. Plenty of the moderate to older crowd as well in attendance, often well dressed and looking for specific coins or higher end material.
Unfortunately, Saturday also saw the appearance of a couple of #$%#$%#, that knew what they were doing. Security was tight, but these were seasoned pros, and speculation is that they might have been part of one of the gangs that have been talked about on these boards. I was on the look-out for those types, and didn't see any. Three tables away from us (diagonal), one individual reached into a dealer's case, and while he was fending the lady, the gentleman also reached in. Distracted, he fend that person off and didn't notice the roll of Kugerrands in the woman's hand (I'm not sure on size or quantity, but think it was a roll of 10). Happened in about 2-3 seconds. The dealer did everything right -- had table back-up (3 people behind his table), was supervising any and all case openings, etc etc. Gone is seconds due to the second distraction in the open case. Not noticed for 10 minutes or so, enough time that they were long gone. Description was an "Indian" looking woman with a "Caucasian" man, both with limited English and accents. Maybe it will be published in another thread as well. (That is all I know about it). The dealer took it in angry stride, but was still extraordinarily helpful and kind in transactions throughout the rest of the weekend (I bought from him later in the weekend). I was impressed by that, to be sure.
Sunday was much calmer as you might expect. From open at 9 until about 1030, it was pretty much crickets. But then it picked up a bit. I was determined to get out around lunch time, if the pace was the same. And right at lunch, a number of families started to show up -- and not because dad wanted to shop -- because the kids did. I was astounded when a family came up to us, right as we were starting to pack up at 1230, and we the daughters chatted with us for about 30 minutes. Both girls (aged 8 and 10) added a new (old) shiny mint state Morgans (1888s in 63) to their respective 20th Century Type Set albums (Danscos), and both were super happy. They took "micro-loans" from mom to accommodate the purchases, and everyone was happy. Not 5 minutes later, another young collector (age 11-12ish) purchased a 1896 Morgan in 63 from us, and let me tell you, I would have been happy to have the wad of cash that kid did at his age! Ha! We steered him to a solid coin (he was looking at junk Morgans but talking with his dad what purchase would hold value in the long run!), and I think he and his father were extremely happy. That made our day!!! Maybe its karma, or something like that, as before we could start to clear out our cases, another older gentleman came in with cash to spend on some nice toners and we all left that transaction satisfied! We finally exited at the close of the show! A great wrap to a very nice show for us!! (I would say 80% of the bourse was gone by the time we started packing up).
Overall, I would say that the show had a solid day on Saturday, and medium days on Friday and Sunday. It was staffed appropriately, and the buzz on the floor was good. Just about everyone I spoke to seemed to have a decent show, or at least they were happy with how they did. I didn't see a lot of Grumpy Gus faces out there, which is good. Just about every dealer that I spoke with was also well-behaved, and well-groomed. In terms of things moving -- we moved a lot of gold, mostly $2.5, $5, and $10 coins -- and bought several from the public as well. Loose Morgans were fairly evenly moving with their slabbed counterparts (maybe a 1:1.5 ratio loose to slabbed). Silver bullion moved for the right price, say a buck or so over spot, and those that weren't around that price weren't moving. I only had one request for 90% silver, and it didn't seem like much was being done with that (10 oz bars seemed to be the hot topic). I was quoted several steep steep STEEP prices on older poured bars and passed, as they seemed to have not been priced to the movement of silver. Their loss, not mine. We made several great purchases and trades (a 1954 $3 Princess in au 50, a better date $2.5 lib in MS 62, and a really nice $2.5 Indian in MS 63, two $10 Libs in au, several better date Morgans) all of which seem to be very liquid right now.
I'll post a pic of Sunday in a moment or two. (all spelling errors and poor grammar are cuz I'm tired!)
Cheers,
Surf
Comments
I've gone to the Grapevine show many times over the years, even back a few years ago when the road construction in the area was impossible. I was actually planning on going this weekend (since I didn't make it to the PCGS show in San Antonio) but the shows promoter (name withheld) didn't take the time or have the courtesy to answer my email sent earlier in the week about vendor attendance.
Sorry to hear about the bad elements there. I've never seen or heard of such a problem in the past at that location.
Thank you for the report. Good to read about the young ones!
Wish the &$!@$ got caught. 😡
Great report.
I have done this show before - always a great show.
I never let people reach in my cases - that’s horrible they stole that from that guy. They are experienced thieves.....the use multiple players / deception.
Good report. Thanks.
Really enjoyed reading your report....glad to hear everyone had a good show and that younger collectors are showing interest in coin collecting.
Super report! Looks like some nice candy in the bowl.
Thanks for the thorough report
Nice report comrade surf. Smoe excitement. Good pick ups. Would love to see that 1954 Princess. ;-)
Good report, man behind the table!
Glad you didn't get "got"....sad that the other guy did
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
An 1896 "63" Morgan is described as being a coin that "would hold its value in the long run." I sold a PCGS 1896 Morgan about a week ago that was as nice as you will ever get in that grade. It was purchased about twenty years ago and definitely did not "hold its value in the long run." The public may love Morgans but they are common, common, common and are likely to stay that way far into the future. I wonder what the future holds for the Morgan the young collector purchased?
Great report and a fun thread until the usual poster comes in and splashes cold toilet water on everything. With that attitude, why collect anything or do anything fun in your life - you're going to die anyway, right?
My wheat cents in my folder from when i was 10 years old haven't gone up much, but I still enjoy having them. It's not all about "holding value", especially for nominal value items. I think that young person will simply enjoy having that common MS-63 Morgan. Sheesh.
10-4,
My Instagram picturesErik
My registry sets
Thanks for all your comments.
I agree with Elmer in this case, and I would argue this simple bit. What will hold more value in the long run, a BU Morgan, or a junk Morgan? We all know that they will move in tandem on silver value, BUT the BU Morgan has more potential to increase in value in the long term. They both could be worthless in 19 years, or could be double and triple in value in that time. Given the fact that he likes the coin better, intrinsically, it has already appreciated! (The future? Heck, for all I know, he took it home and ran it through a polishing rag to make it even more shiny. As Elmer said, it’s more about the enjoyment!)
Surf
Very nice report... thorough with good detail. Too bad about the thieves... sure sounds like part of the gang that has been active lately. Cheers, RickO
Enjoyed your detailed report. Nice to read that you were rewarded with sales for hanging in there until the Sunday closing time.