Observations from the Mexico City show
pruebas
Posts: 4,582 ✭✭✭✭✭
I’m just heading back from the biannual show in Mexico City (wish me luck once I arrive back at a large US international airport where lines are reportedly hours long!). Here are some observations:
Business was ok, not great but not bad.
Thursday (opening day) for me is usually gangbusters and Friday dead. This show, business was more evenly spread out among both days.
Saturday (general public day) is usually pretty good. This show, it was very slow. Lots of collectors and families decided to heed the Corona virus warnings and stayed home.
Attendance was off, but not totally dead. I think it was worse a few years ago right after the earthquake. Some of my regular customers did not attend.
One reason for the lack of attendance was that the Bank of Mexico canceled (and the Mexican Mint hasn’t attended since its big robbery a while ago). The Bank sells lots of recent commemoratives and sets that are very popular among collectors. They usually have a line out the door in the morning.
The average sale was lower than normal, but that’s not to say big coins didn’t sell. I made a few big sales and bought some cool things for my collection (coins, books, and the feeder finger discussed elsewhere).
There were two auctions. The first was mainly “collector coins” and was a real bust. Very low sales percentage. The second had lots of slabbed, high grade coins and medals and had (IMHO) some fantastic prices. It seems some buyers in Mexico are starting to appreciate “pop tops” and slabbed medals.
Mexico is hardly an epicenter of Corona virus infection. I think there were only 5 reported cases nationwide when I arrived. But many here are taking it seriously. If it does arrive in a big way (and I see no reason why it wouldn’t given it’s close relationship with the US), this country will unfortunately be hit hard given it’s social customs and population density.
The next show is (hopefully) in September.
Comments
Thank you @pruebas Five cases reported only means that they are not testing enough...
I should one day go there and check the show.
There was discussion voiced in the Mexican government of closing the border with the USA to slow the progression of the disease.
Gracias por el informe!
Well, I’ve arrived home. The wait at immigration was just under 2 hours. I was behind hoards of folks coming from Jamaica, many with multiple bottles of rum. I joked they could definitely enjoy themselves during the 2 week quarantine period.
I just looked and Mexico now has 41 reported cases with 1 death.
I think that whole border closing talk was just a stab at Trump.
By the way, many other dealers reported similar sales as mine. Both the quantity of sales and average price of each were about 2/3 of usual.
Thanks for the report! All in all not too bad sales wise. Hope to see you again in Sept
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Buy any nice Pillars or Portaits?
Latin American Collection
I would be a kid in a candy store with those honking 50 Peso coins and similarly sized medals.
Most of the nice older coins have already left Mexico. Not to say there are none, but not many. Mexican collectors generally care more about price than quality. That's why I mostly
add modern patterns and proofs from my trips there.
This time I bought (3) 1979 proofs for issues that weren't generally made in proof. They were
most probably special issue specimens for some project. There happen to be many patterns
from 1979, so something was definitely going on at the Mexico Mint at that time.
I also bought a modern error for the bimetallic series and a blank planchet for same.
Nothing too exciting, but coins to make my collection more well-rounded.
I didn't see any 50 Pesos oro on the floor at the show. Sometimes the Bank of Mexico sells
them, but they did not attend. The cost is too high for most buyers in Mexico.
There were some 8 Escudos in cases, but not many, especially since two US dealers didn't
show up.
As sad as it sounds, I think @pruebas is right. In Mexico collectors are more to fill a hole in the collection than a 64 vs 65.
I think the mint in 79 was of the mindset of the president of the time... pharaonic projects that did not realize.
I am dredging up this old thread to recall the last Mexico City show and to let you know the next show will be 21-23 April at the usual hotel (Wednesday 20 April is setup+early bird day). That will be after a 2-year hiatus with the last show being March 2020 as discussed in the OP.
Given that the usual convention auctioneer just held an auction, I don't think they will be having an auction at the show this time. No word of any auction in connection with the convention this time.
Probably no great coins either 😬
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Not for you @bidask. No piles of MS66 slabs to “cherry pick” from.
Best to leave this show for us numismatists.
8 Reales Madness Collection