Lack of major coin shows
Gazes
Posts: 2,315 ✭✭✭✭✭
What has been the biggest result/consequence to numismatics due to the lack of any major coin shows due to covid?
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Gazes
Posts: 2,315 ✭✭✭✭✭
Comments
Increased internet activity.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
More money competing for the same coins at major auctions
Latin American Collection
Dealers discovering they can survive (and even prosper) maximizing their internet channel.
"Got a flaming heart, can't get my fill"
I'm selling more coins!
John Brush published an interesting blog along this subject.
https://blog.davidlawrence.com/dlrcchanged/
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Corrected
Latin American Collection
Nice write-up. I do think that fewer coins shows will return to the scale which they once were (Im looking at you CSNS and the Atlanta type ANA shows) as dealers who fit a certain model are able to maintain or improve their overall business without the added time and costs of traveling across the country each month.
Latin American Collection
I would agree that the '...biggest result/consequence...' has likely been the significant increase in internet coin business. For most dealers. There will always be those who resist, or choose not to enter, the new medium. Cheers, RickO
I was speaking to a dealer a few days ago. He said he is doing better today than a year ago. He is no longer spending $8-10k a month traveling. When the shows resume he’s going to significantly reduce his presence.
It will be interesting to see what happens when shows do return and customers resume spending in person. Will the dealers who have found success online be able to pivot back, or find the right balance in order to continue surviving/thriving?
COVID got me spending more money on coins (all online) by cancelling my kids' activities and my ability to travel to see my family in other states. When COVID lifts, that time and money dry up, and I can actually see coins in hand, I will probably spend almost nothing online for a good while. I can't imagine I'm the only one in this boat.
Definitely an increase in internet business but the lack of shows has caused some disruption to the supply of coins on the market though I think.
Andrew Blinkiewicz-Heritage
Collectors LIKE coin shows. Dealers who ignore them when the COVID19 crisis finally passes will likely be making a mistake. Nothing beats face to face transactions where the coins can be viewed in person.
and it keeps me busy for a few hours and out of any trouble. just saying
I've seen this supply issue in Europe, or what seems to be happening there - a lack of fresh material. I've had a devil of a time buying anything in my narrow area of interest whereas I usually score a find or two a month.
US supply seems just okay, but would be interesting to hear comments from dealers.
My internet sales are strong on Instagram, eBay, and my website.
Finding new material is much harder now tho.
Agree with the increased internet business. For us (and I suspect many others that did the coin show circuit on a regular basis), it has also resulted in our lowest inventory level in probably 15 years.
I have not bought a coin since my last show in March. Though I still follow this forum daily, much of my attention has shifted to other hobbies - until we can get back to safe in-person shows. I started buying coins just two years ago and over that time developed my own approach for coin shows -- but I feel too green and susceptible were I to buy online. I should have many years left to build my collection, so for now I'm on pause.
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.