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Back from the Blue Ridge Coin Show - Dalton GA
FatMan
Posts: 8,977 ✭
I spent yesterday (Saturday) at the Blue Ridge Coin Show in Dalton, GA. The show, in its 44th year, is a good size show with over 200 tables. They charge $2 for admission, which for me is a big turnoff (I'll save that for another day). For perspective purposes, this would be considered a large regional show with dealers coming from as far as Conn., Michigan, and Nebraska.
Met with fivecents and Dahlonega. It's always a pleasure to see other forum members at the shows.
fivecents had some nice newps (I'll let him share those with you). I was with him as he negotiated for an error coin. He was great, and in the end he walked away with his prize in hand. Way to go Paul and thanks for the lesson ..... you're a class act.
As always, Dahlonega was holding "Court". While visiting with him, got to see a 1856 FE Cent, a 1921 high relief Peace, complete sets of Half eagle and Quarter eagle Dahlonega Gold, and was introduced to several new collector friends. Thanks David for another very enjoyable visit.
Some show observations:
1. Pretty large crowd early but by 2:30pm the place was near empty of collectors.
2. Two-thirds of the dealers had at least a half dozen (many had over a dozen) colorful (rainbow) toned morgans. Lots in PCGS and NGC slabs, but a large quantity in PCI slabs. A dealer who had several said to me "Toned morgans are dead. I can't move them at the prices I paid."
3. 2 NGC slabs to every 1 PCGS slab. I have seen this trend continue over the past year. Heard from several dealers: paraphrased....the PCGS premium is lessening and is not worth the wait.
4. Dealer cases were filled with Morgan and Peace $. These are "NOT" rare coins! There was a very limited supply of Barber Halves, quarters & dimes available. I heard on at least four occasions collectors asking "Do you have any Barber ...?" Very little to be found.
5. ANACS, PCI and NTC had tables at the show. PCI slabs are found in quantity in Dalton because PCI is located only 30 miles away. The ANACS table had occasional activity. I saw some groups gather at the PCI table. I saw no (and I mean absolutely 0) people at the NTC table. The guy at the table looked bored out of his mind.
6. Saw less than a handful of ACG slabs. NTC was plentiful and has apparently become the industry leader in scam slabs.
7. The dealers generally were sticking by the story that the show was strong, but I saw very little money trading hands between collectors and dealers. It seems that most of the buying was dealer to dealer.
8. Supply of Commems (my current series) was limited. Commems remain fairly priced. I see no "Hot Market" pressure in the series.
9. Saw a larger than usual amount of modern material. Not just proof sets, but Bullion Eagles and Commemoratives and state quarters (slabbed and mint packaged). Lots of junk as well (although for some of you that sentence was redundant).
On my way back to Atlanta, I stopped in at my local coin club meeting. Bill Fivaz, a club member, signed my B&M auction catalog and we chatted about his auction results. Bill seemed generally pleased. Bill is a real gentleman and it is no surprise that he is so well respected.
Oh...almost forgot. I had no plans on picking up any additions for my collection as I blew my budget in the ANA B&M Auction. but, I had a York County Maine Commem jump out and grab me. Relatively inexpensive so I had to bring it home.
Met with fivecents and Dahlonega. It's always a pleasure to see other forum members at the shows.
fivecents had some nice newps (I'll let him share those with you). I was with him as he negotiated for an error coin. He was great, and in the end he walked away with his prize in hand. Way to go Paul and thanks for the lesson ..... you're a class act.
As always, Dahlonega was holding "Court". While visiting with him, got to see a 1856 FE Cent, a 1921 high relief Peace, complete sets of Half eagle and Quarter eagle Dahlonega Gold, and was introduced to several new collector friends. Thanks David for another very enjoyable visit.
Some show observations:
1. Pretty large crowd early but by 2:30pm the place was near empty of collectors.
2. Two-thirds of the dealers had at least a half dozen (many had over a dozen) colorful (rainbow) toned morgans. Lots in PCGS and NGC slabs, but a large quantity in PCI slabs. A dealer who had several said to me "Toned morgans are dead. I can't move them at the prices I paid."
3. 2 NGC slabs to every 1 PCGS slab. I have seen this trend continue over the past year. Heard from several dealers: paraphrased....the PCGS premium is lessening and is not worth the wait.
4. Dealer cases were filled with Morgan and Peace $. These are "NOT" rare coins! There was a very limited supply of Barber Halves, quarters & dimes available. I heard on at least four occasions collectors asking "Do you have any Barber ...?" Very little to be found.
5. ANACS, PCI and NTC had tables at the show. PCI slabs are found in quantity in Dalton because PCI is located only 30 miles away. The ANACS table had occasional activity. I saw some groups gather at the PCI table. I saw no (and I mean absolutely 0) people at the NTC table. The guy at the table looked bored out of his mind.
6. Saw less than a handful of ACG slabs. NTC was plentiful and has apparently become the industry leader in scam slabs.
7. The dealers generally were sticking by the story that the show was strong, but I saw very little money trading hands between collectors and dealers. It seems that most of the buying was dealer to dealer.
8. Supply of Commems (my current series) was limited. Commems remain fairly priced. I see no "Hot Market" pressure in the series.
9. Saw a larger than usual amount of modern material. Not just proof sets, but Bullion Eagles and Commemoratives and state quarters (slabbed and mint packaged). Lots of junk as well (although for some of you that sentence was redundant).
On my way back to Atlanta, I stopped in at my local coin club meeting. Bill Fivaz, a club member, signed my B&M auction catalog and we chatted about his auction results. Bill seemed generally pleased. Bill is a real gentleman and it is no surprise that he is so well respected.
Oh...almost forgot. I had no plans on picking up any additions for my collection as I blew my budget in the ANA B&M Auction. but, I had a York County Maine Commem jump out and grab me. Relatively inexpensive so I had to bring it home.
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Comments
Excellent post. I was half-expecting you to come back with another Dahlonega from "Dahlonega". Did he have any new and affordable "D" coins?
Robert
Frank
Jade Rare Coin eBay Listings
I'm on the long term plan with my D mint gold. Figure about two per year so I'm due for a D mint Christmas. Our good mutual friend didn't have anything with my name on it at this time. I know he has me in mind if something right turns up.
Frank,
Sorry you were not able to make it. I hope you are well, and look forward to our next meeting.
I read your Blue Ridge coin show report with lots of interest and some nostalgia. I originally hail from Atlanta, and remember attending the annual Blue Ridge show with lots of enthusiasm during the late 1970's.
I picked up a few choice coins, mostly Morgan Dollars at those shows, before slabs were introduced. That's about the time that Randy Campbell, John Highfill, Wayne Miller & John Love were really kicking into high gear with PL & DMPL Morgan Dollars which you could buy for $15-$25 to cherry pick their best common dates.
Today we are alot more formal and precise with our grading standards. In those days we graded them as either Unc, B.U., Choice B.U, or Gem B.U. The we started calling the Unc coins MS-60's, the B.U. Coins MS-63's, the Choice B.U.'s MS-65's and the Gem B.U.'s MS-67's.
The more things change the more they remain the same. Today, when I attend a local Houston coin show I still buy the coin, and not the grade on the plastic holder -- but it's good to be aware of changing grading standards to help pick out those "PQ" coins for the grade.
I read another post today by someone who saold their 1877 proof set and subsequently saw it being offered after "Numismatic Conservation Services" had been applied. He was really upset that those coins had lost their pedigrees and are now dipped or otherwise chemically cleaned-up in new holders. The purchaser got upgrades from MS-65 to MS-66 and will make alot of profit on them.
Today, as before, we still have two basic types in the "Coin World" -- True Collectors and Businessmen called Dealers. Some dealers became such after being collectors, others are simply trying to make a living through running a business.
It's nice to have found these message boards full of people who really enjoy collecting coins and sharing their experiences with others who enjoy the hobby -- not just the business. Don't get me wrong -- there's nothing wrong with making an honest buck, as long as it's an honest buck...
I am looking forward to meeting more of you through cyber-space and perhaps at local and regional Houston coin shows.
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
Allways good to see other people from the Houston area on the boards.
Perhaps we're finally seeing a top! I've been waiting years for this to happen. Perhaps I can start finding them again at reasonable prices.
Good report FatMan. I was on the fence as to whether to attend or not, but just had too many irons in the fire.
GSAGUY
Your toned Morgans are in a league of their own.
The toned morgans in that dealers display as well as most others at the show were bush league in comparison. The prices were still sky high. I saw some oooohs and aaahhhs from collectors, but no one going for the wallet. Maybe we have seen the top, but one little show in NW Georgia is hardly a major indicator. It may be something to watch for though.
Dan
keep these reports coming
well i hear that there are many morgans at the shows
i guess for me it all depends on the morgan
there mayb e many but i bet coins like
really great morgans you juast do not see like a fully cameoed prooflike choice to gem 1894 s dollar pcgs i bet this coin would go right out the door sold soon after the bourse opened especially if the coin had great eye appeal
same with a monster exceptionally eye appealling 84cc dmpl gem morgan pcgs 18810 really choice close to gem dmpl pcgsd with monster eye appeal also sme for the gem 880 dmpl gem again monster eye appeal!! i guess it all depends on the specific morgan dollars
as for the toned morgans i think they are great but not something i know anything about! as for prices they have certianly seen a great rise in prices and are popular coins
well for me i think exceptionally toned 19 into the 1940's century proofs and ms coins cents nicks three cent nicks trimes half dimes dimes quarters half dollars are just as great
really uncommon
and great values in this current market
michael
Didn't get to the show until early morning Sat. dealers reported lot of dealer/dealer action...one dealer sold 8 double row boxes of unslabbed material in one sale
John's York commemorative is extra nice and if I remember is in an old green PCGS holder giving it an extra dose of pizazz
Only saw two new nice Dahlonega coins at the show [picked off by a dealer on set up] who sold both to a savvy collector for well over trends [I think one was a 38-D $5 in an NGC-45 holder I would say was a 40+ and a 51-D G$1 PCGS-58 that was absolutely gorgeous]
Plenty of Morgans but I couldn't find but one nice PCGS-58 1894 and the dealer wanted 62/63 money...a tip if you can find nice circulated 1894's for sheet it's probably a good buy
I bought:
1837 Bank of Darien $5 note [relates to Dahlonega's history]
1856 Flying eagle XF-40 from a collector who bought it 7-8 years ago-in an old ANACS-ANA holder mottled obverse but,attractive and Randy Campbell assured me it wasn't corrosion today probably an AU- 50
Great NGC-61 1803-G$5 that looks original with eye appeal, I don't understand the holder?
But, most fun was meeting some super people
As John said I briefly held court Sat. what he didn't say was I was the Jester...a lot of fun.
<< <i>Perhaps we're finally seeing a top! I've been waiting years for this to happen. Perhaps I can start finding them again at reasonable prices. >>
NOT THE STUFF YOU COLLECT!!!!!!!!!!!!
Many of the dealers who jumped on to the toned Morgan Bandwagon in the last year or two are going to start taking some hits. They came in paying 4 figure prices for 3 figure coins. The well of newer toned collectors willing to pay this kind of premium may be starting to dry up now that some have realized,( many the hard way) that you do not pay a monster price for a coin that is not a monster.
FatMan, Thanks for an informative Show report.