Desert Moon CSNS Report

Desert Moon

CSNS Show report,
Normally I do day by day reports here, but I did not have my password so alas, could not log in to report. So here is a long report for the whole show.
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What can I say? To sum up, it was a total blast. Last year I started Desert Moon by setting up at CSNS. So this time was full circle, a year of experience under the belt. They gave me the same table location as last year which is a good one. The activity never stopped from 4 pm on Wednesday for Dealer Setup until at least noon on Saturday. Last year, activity dried up on Friday afternoon and I literally had nothing going on during that time. This year was not the case, I bought and sold coins on Friday afternoon and on Saturday with folks continuing to stop by. I still don’t know what to expect for sales. I did very well but always looking for a tad more. The challenge I have is that my inventory is 95% CAC/CACG coins. I almost never get them below retail guide cost and so they appear expensive to dealers and collectors alike. As soon as I give a customer the best price, they open the phone, start scrolling through Coinfacts. A lot of times they are comparing prices with very different quality of coins in the same grade. Everyone wants a bargain, but because of PQ costing what it does, well you get the picture here. Yet I managed to sell 28 coins, 30% of my inventory. Last, year my net percentages on the sales were overall much higher than this year. Last year about 2/3 of what I had to sell were part of my collection that I used as start up, and many had been sitting 5-10 years off the market. So thems margins were good. Most of the coins I am selling now are purchases from the past few months, margins are so much tighter to make a sale. 10% becomes the number mostly. So I am learning how this all goes and it likely means I have to sell much more to net the same profit going forward. The lesson here is that if one can buy PQ coins, even if one feels they are too expensive at the time of purchase, if one holds on to them for 5 or more years, one will do well. If one buys pedestrian coins at a deal, well who knows…………….
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I also managed to get 23 new really cool coins for DM resale (4 already resold at show). 3 gold, 5 silver, and a whole bunch of gorgeous copper. And, no carbon spots on those cool copper coins (we hates them carbon spots my precious, yes we hates them). Well, there was an exception. I got a Braided Hair large cent in RB that was 100% RD on the obverse with one leetle carbon spot – but most of these full red coppers from that era have many and it was too stunning to pass up. I also got one early Lincoln in RD, and yup, no copper spots. Yes I am picky.
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One of the important aspects of setting up at shows is to meet dealers and collectors I don’t know and expand my networking. This show was a huge success on that front. I met quite a few new collectors, including several here on these chat boards. The more collectors that get to know me and my inventory, the more that will come to my website, return to my table in later shows, etc. etc. All part of building the brand (ick I am not a social media type so ugh, don’t like that word but it is what it is). For example, I was happy to meet for the first time @Sedulous who shares my passion for VF-XF Barbers. He turned out to be as nice a guy as I thought he would be. I also met another board member @marmac who shares my passion in early bust coinage and in particular large capped bust quarters. He showed me some of his Large CBQ’s, which were carefully selected, perfect for the grade, and no doubt took many years to find. Truly enjoyable to talk with him.
I rekindled my connections to several other board members, @Kliao (who sold me two neat coins from the coin buis he works for), said hello to @Boosibri who came by my table, and had quite a few conversations with, IMO, the best coin photographer in the world @messydesk. Many more from these boards and many collectors from all over the Midwest came by, some buying some really special coins.
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On the industry side, I was able to expand my connections to dealers. I bought and sold with a nice and enthusiastic guy who I thought was in his early 20’s, only to tell me was 16! Whoa what knowledge he has at this age! I interacted with the quickly becoming known 12-year-old dealer and his father throughout the show that everyone is watching and being impressed by. Doug Winter is mentoring him and letting him have a case at his table. His father told me he flipped his inventory (2 full boxes at a time), 2 times at the show!!!!! Wow. He is a very serious young lad who is having a ball. Early in the show he bought a gorgeous bust quarter from me. We exchanged O-mint CACed gold coins in a transaction right before I left on Saturday, then he beat me to a stunner at the CRO table as I was walking out and saying good bye to John and MaryAnn. I bought and sold some coins with Ben ‘Da’ Coingeek who is a blast to hang out with at his table. He has the perfect personality to successfully run his Youtube channel. He had a great copper that was perfect for what I do, and I had some nice silvers that fits his model. Eye Appealing, Brian Greer, David Kahn, Doug Winter, Dave Perkins, @Sunshine Rare Coins were all interacted with, and some coins went back and forth with my regular go to dealers. Sold a Lincoln Cent to Charmy but never got the time to peruse her Conders. Next time and all good.
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Finally on the industry side, on PNG dealer day, I got to talk John Feigenbaum for a good 45 minutes. I really wanted to get a better understanding on how he puts together the CAC retail pricing. I think in some areas it is spot on and in other areas does not really keep up with the rising prices of the uber quality CACed coins. So we really delved into his approach to pricing and it helped me to understand what the values mean. I don’t necessarily agree with all of it, but I respect it, and it is what it is. I had a nice conversation with the CFO of CAC. Since I am a total 100% CAC geek I wanted to let him know that yes, my CACG holdered coins are selling well. Actually, I had 30 when I arrived at the show, I had 20 of these when I left. This was consistent with my overall sales of about 30% of my total inventory at CSNS. The good news he told me is that the financial side of CAC is going super strong. I am all in for CAC/CACG so was happy to hear that.
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Tales from the bourse. Well there were many. I will report one. There is one collector/vest pocket gentleman that comes by my table every time for buy and sell. We were going through his coins and I picked out the ones of interest to me. He then perused mine, his eyes zeroed in on my totally stunning, key date 1895-O Barber Dime in XF45/CAC:
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https://desertmoonnm.com/product-page/1895-o-dime-cacg-xf45
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He examined it for several minutes and then said he had to have it. I said I know my price is 2x retail but it is the best one I have ever seen in VF-AU for this key date in terms of eye appeal, color, quality of surfaces. I told him what I paid (1.7x retail guide) and from who and when. This guy is an astute numismatist and he understood the pricing where it was and why. I was able to bring it down a touch and we both were happy. He also had his eye on a just acquired, 1836 quarter eagle in VF35 CACG. Just a stunning piece for the grade. He grabbed that one as well. When I wrote up the invoice, we were at 4 buy and sell each, he said ‘Oh you know, I think I used to own that 1895-O barber dime about a decade ago’. We traced it back and sure enough he had. He said ‘this time it is going nowhere’, which of course is the right call for having the best of a key date within a grade range. Then he said, ‘wait a minute, did you get the 1836 quarter eagle here from ‘such and such’’? I said yes. He then said ‘Oh. That is actually my coin on consignment with him’. By that time we were both laughing so hard it took 5 minutes b4 we could continue. And I then asked him if he wanted to take that off the list. He then said ‘no matter, I am keeping it too’. Just hilarious. I sure do enjoy when this guy comes by the table and can’t wait for the next port of call at Summer ANA.
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In terms of off the bourse, when it closes I am knackered. I usually wake up at 4 am, have my coffee, go over my pricing for all of my coins plus other pre-bourse prep. So when the bourse closes for the evening, I generally go right to the hotel restaurant bar for some restoration, then off to my room to do paper work. I really like to see where I am at in terms of the numbers each night, analyze the results – the scientist in me will never go away I guess. On Friday evening though, Paradime’s Shannon saw me and asked me over to their table. So after eating I hung out with the Eye Appealing and @Sunshine Rare Coins group for 15 minutes, then took my Grand Marnier over to the ‘Paradime’ table and had a great time chatting. Several dealers were there, Rick Snow and his son, Eric of Sublime Cents, Paradime, and 2 dealers and/or collectors I had just met and apologize because I forgot their names (I am terrible with names). I guess it was a meeting of the Southwest Desert Dealers Association (LOL) since we all live in the region. A wonderful time and glad I was social, and a shout out to Shannon for asking me over.
So I am now 1 year in, we will see how things evolve during year 2.
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To conclude, had a great time. I managed to get 3 newps for my limited personal collection. All are CRO-Newps as John always has the kinds of coins I like to collect. The quarter eagle adds to my box of 20 gold in OGH and with gold stickers and cool world gold from the 18th and early 19th centuries. The 2 half dimes adds to by box of 20 Capped Bust hd’s and Liberty Seated O-mint hds. See images below.
Thanks for reading and best, DM

Here are the 2 Capped Bust Half Dimes I snagged from CRO:

Here are the 2 they join, I am up to 4 CBHD’s:

Here is my new C-Mint Gold stickered quarter eagle, probably AU55 in current grading standards:

It joins these other 2 gold stickered branch mint gold:

Thanks for reading and looking!

Ridley06

Great show report as always! Love coming by your table for quality coins!

DDR

Great report, loved your detailed perspective.

messydesk

Great report. Gotta love "boomerang coins". Great chatting with you at the show, as always.

Smudge

Good report, thanks.

lermish

Great read, thanks!

U1chicago

Enjoyable report!

And I like what you are doing! There are a ton of tables that have the same inventory-common date Morgans, Walkers, Buffalo Nickels, etc. Sure that is what many collect and those always sell. However, when one walks past the same sort of items all the time (many of which are ok but priced like PQ), it is easy to just skim and move on. On the other hand, when a table has something different and truly PQ, I would think more people will stop to look. The challenge is getting them to buy (which starts with understanding that nice coins aren't usually available at sheet or below auction comps).

Boosibri

Great report and nice to reconnect with you

calgolddiver

great report and nice inventory on your website !!

Copperindian

Great report Al - wish I could have made this one!
Ken

Bikergeek

HAYDUKE LIVES! I was happy to read your show report and of course happy to see those gorgeous half dimes, Al. I sent you an email with some chatter and idle speculation about them. Appreciate the post!

willy

Always love stopping by your table as you stock the type of coins I am looking for. I am also all in on CAC and do pay up for the right coins. The premium pricing for the nice CAC coins is a problem. You need the right dealer or need to go through auctions to get the right money for them as a collector. As a dealer you need customers that understand what a premium coin looks like and that it will sell for above the price guides. So many dealers and collectors alike just look at the price guides. I understand collectors doing that but do not understand why many dealers do not want to buy the nicer looking coins at a premium for their inventory.

Pnies20

Wow that 47-C is great 👏

johnny9434

love the carson city gold, wtg

Catbert

Great report Al and I remember well that 1895-O dime you showed me at FUN that I kept being drawn to. Sounds like it's found the right home (sadly, not mine). I know that your table is a "must visit" whenever I'm at a show that you're attending, not only for the fellowship, but because of your eye. So glad your business is thriving.

olah_in_MA

Enjoyable report, thanks for sharing

golden

Sounds like you had a great show. Nice coins that you picked up.

coinhack

Interesting report. Thank you for sharing.

kaz

Thanks for a really interesting and entertaining show report.

marmac

Great report Al, It was an absolute pleasure meeting you, talking coins and life.

Look forward to next time around!

pursuitofliberty

Great report and some great coins. That 47-O $5 could almost make be stray. Almost! What a fantastic example!!

Desert Moon

.> @pursuitofliberty said:

Great report and some great coins. That 47-O $5 could almost make be stray. Almost! What a fantastic example!!

Well if I ever decide to sell it, I know who to ask first……………….

For clarification, all coins I show in this thread are my collection. I won’t put for sale coins in a regular thread, only the BST. Just in case there was any confusion there and thanks everyone for your comments.

Best, DM

winesteven

Congratulations on having a great show along with the successful growth of your business!

As you recognize, there are two types of collectors, and your market is the second type! The first type of collector thinks of coins as commodities - for a particular date/mint mark/grade, these coins are all valued the same to them, regardless of eye appeal, and/or meriting a CAC sticker, etc. The second type of collector recognizes the value of coins with high eye appeal, etc. They understand that price guides are only guides, taking into account coins with a wide range of eye appeal. Coins with superior eye appeal compared to others in the same grade are worth “paying up for”.

Don’t lower your standards. Continue to acquire for your inventory only coins with high eye appeal! You’ll then develop the reputation for carrying high quality coins. Serve THAT market. You don’t have to service the needs of all collectors!

I hope to see you in Orlando in July (if you’ll be attending Summer FUN).

Steve

Kliao

Nice report! It was great to see and talk with you! Very pretty half dimes that I got to see in person. Also nice to do a little business. Hope to reconnect again at a future show!

breakdown

Nothing wrong with that 47-O Eagle gold stickered in AU50. Lots of luster makes the gold sticker look appropriate.
But it’s not a half eagle. Gold stickered in that grade would be one rare bird (ok a bad pun).
I look forward to seeing you at next big show I attend.

MFeld

Great report and great coins! I like your style.

shorecoll

I'm not a gold guy, those HDs are stunning.

braddick

Every now and then I'll read or hear how you cannot be a successful dealer if you are also a passionate collector.
Thank you for proving that opinion wrong.

Desert Moon

Thanks for your comments folks.

skier07

Excellent report and you have a great eye.

usararecoins

Excellent write up Al. I really look forward to these show reports. Love those half dimes! I'm considering ANA WFOM in OKC in August. Hopefully we can catch up there.

Desert Moon

Thanks for your comments folks.> @usararecoins said:

Excellent write up Al. I really look forward to these show reports. Love those half dimes! I'm considering ANA WFOM in OKC in August. Hopefully we can catch up there.

Missed you at CSNS, Moots or Mosaic, which would you choose?

EastonCollection

Hey Alan - great show report and great seeing you. You have a great eye for eye appealing quality coins. Keep it up.