My Vegas PCGS Member Show report (05/26 - 5/28/21 at the Bellagio)
ElmerFusterpuck
Posts: 4,801 ✭✭✭✭✭
The last major coin show I attended was the January 2020 FUN show, so this trip was eagerly anticipated. It was good to finally get back to the airport and take a real vacation out of state. While some rules were still in place (masks in the airports, on the planes, in some venues including the show), it hardly affected the trip at all. Vegas was "almost" back; the casinos were open, the crowds were coming back, but some restaurants and shops were still shuttered. Overall it looked pretty close to what could be called "normal". that was good to see.
As for the show, most of the tables were occupied. The tables were doubled, allowing greater distance but also more room to look at coins. I heard that each member show that more and more dealers and people were coming back - they were itching to get out and attend an actual show in person. The show here had steady traffic for the two days I went, plus I did see some younger collectors in the crowd. I didn't have a specific mission in mind for this show, except to have a good time and take part in some of the tasty food that was being served. I would say that my mission was accomplished! I did run into a few people from the online word and forum member @BustDMs too.
I did bring a box of 20 coins to the show to sell, they were pretty much dups and some of the coins still had Teletrade stickers on them. I'm trying narrow down my focus and thought selling off some coins to some show dealers to fund another nice coin was the way to go. I pretty much got the prices I wanted so I was happy about that.
It was nice to sit at the Legend auction table and browse thru some of the highlights and the coins I was interested in. From what I saw, the prices were strong and I didn't win a single item despite putting in decent bids. I guess there is always the next time.
As for my purchases, I did get some nice circulated raw coins for my bookshelf albums (a couple of 3 cent pieces and some SLQ's) and this one super nice toned Morgan dollar. What adds to it for me is that it comes from the first year and I don't see as many nicely toned 1878-S Morgans as I do the S mint dates right after it. This coin grades MS-65+ and has a green CAC sticker.
If you are thinking about travelling to attend a show and want to do other fun things, I say go for it!
10-4,
Erik
My registry sets
Comments
Great report! Question, when you bring coins to sell at a show, are you selling to dealers? Were you expecting (and did you get) wholesale prices? I've never sold at a show before and would like to try it.
Awesome. Great report...I really want to hit one of these PCGS shows in Vegas. Sounds like they’re a blast.
Dave
As to the first part of you question its considered bad form to conduct sales with other collectors on the bourse, dealers pay a table fee to be there and conduct business.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
That’s a gorgeous Morgan dollar and even better that it’s a 78-S.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
That’s a spectacular 78-S ⭐️
Congrats!
Agree in general. But a little collector-to-collector dealing is fine too — though best done at one of the side areas or food area, not at any dealer’s table of course.
I edited the post to show I sold to dealers. What I did is ask them if they were buying coins and if they were I would pull out my box. I was able to sell the 20 coins to 3 different dealers. All were slabbed, a couple were ANACS, a few more NGC and the rest were PCGS. Most of the coins were Morgan dollars, a few nicely toned but no knockout colors.
As for prices, I looked at auction results and tried to price within an average range of what I saw there. For the most part I got what I wanted, but didn't mind any haggling if it was reasonable.
10-4,
My Instagram picturesErik
My registry sets
I think another answer to the question is that it is ok for a collector to bring his coins to sell to a dealer. Be sure to know your sale price by doing some homework first. Recognize that most coins will not be sold to dealers at retail.
"Got a flaming heart, can't get my fill"
Congrats!
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
…somebody needs to make a show that’s only for collectors to trade and purchase from each other…with a heavy cover charge to make up for the missing dealer table fees of course
Thanks for the show report glad to hear everything was a swell time!! That is smoking nice 78s something you don't see everyday that was a grandslam of a day!!!
Nice to see it things going back to "Normal" ... I was wondering if you attended the legend auction? I did watch and bid on several lots on the 1st day but I could not sense how many people were there in person bidding live. My gut reaction was there was more on-line live bidding than floor bidding and still not as many as a pre -pan room?
OMG ... My Mother was Right about Everything!
I wake up with a Good Attitude Every Day. Then … Idiots Happen!
I’m the auctioneer for Legend so I may be able to answer a few of your questions.
We usually have less than a dozen floor bidders. There are so many ways to bid now that in person attendance isn’t as important as it used to be.
Many dealers leave their bids on numerous items and go to dinner or the tables for a little fun. If there is an important lot for on their list they sign up for a phone bid. Some go back to their room and bid via the internet from there.
Collectors have the same options. I would HIGHLY suggest that if there is a particular lot you really desire that you not trust your internet connection and signup for a phone bid. Otherwise leaving a bid with the auction company or bidding online is just fine. Rest assured that your bid will be reduced to one increment over the underbidder. I have seen MANY times where bids were SUBSTANTIALLY reduced.
I personally still enjoy the auction room and try to attend any sale where I will be bidding on numerous lots.
I hope to see many of you at a future Legend Auction. If you come please introduce yourself.
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
Thanks for the feedback ... I should have expected that without slots in the back of the auction room . I presume then you felt like it was near normal.
I have had good luck bidding live on the internet - I actually enjoy it. Sometimes I am even surprised with the lots I win below what I was expecting when there is real live bid activity. In any case I enjoy Legends auctions especially without those annoying split bids and your smaller increments --- then again those splits do sometimes signal when someone hit their ceiling.
Looking forward to your next auction and PS... good job in keeping the auction moving.
OMG ... My Mother was Right about Everything!
I wake up with a Good Attitude Every Day. Then … Idiots Happen!
Thanks for an interesting show report. So good to see shows coming back. Sounds as if you did very well, selling and buying. Cheers, RickO
Appreciate your show report.
Hopefully I will get motivated to attend a major show in the near future.
Wayne
Kennedys are my quest...
Great show report. Looking forward to attending some shows again in the near future.
Thanks for sharing your experience.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
Sounds like a lot of fun, and what a spectacular Morgan you managed to pick up while you were there!