Final Report on L.B. Show
Bear
Posts: 18,953 ✭✭✭
Well this morning(Saterday) a water pipe broke in the main hall. No one was allowed
in the hall. Dealers were finally allowed to set up at 11:30 AM and the public was let
in at about 12 noon. Perhaps 10% or more pf the dealers were not there, having flown out of town
early this morning. A significant number of the public attendees left in disgust with the long wait and the fact
that no one seemed to know when the show would open. The grading by PCGS seemed fairly tough. Its been
better and at times its been a bit worse. Except for some exceptions, most dealers seemed to hedge their
answers when asked how the show was for them. Answers ranged from fair to poor. As usual, the Forum members
attending the show had a good time looking, buying and meeting one another.
in the hall. Dealers were finally allowed to set up at 11:30 AM and the public was let
in at about 12 noon. Perhaps 10% or more pf the dealers were not there, having flown out of town
early this morning. A significant number of the public attendees left in disgust with the long wait and the fact
that no one seemed to know when the show would open. The grading by PCGS seemed fairly tough. Its been
better and at times its been a bit worse. Except for some exceptions, most dealers seemed to hedge their
answers when asked how the show was for them. Answers ranged from fair to poor. As usual, the Forum members
attending the show had a good time looking, buying and meeting one another.
There once was a place called
Camelot
Camelot
0
Comments
to be received by wednesday. At that time, I shall give forth with the news. I can tell you that the 1700 dollars grading
fee was made up for in total, with the one upgrade I received so far. At this point in time, I am at least breaking even.
I feel strongly that the grading was overly strict, but I am only joined in that opinion by the majority of people
who submitted coins at the show.
Camelot
as tight as they have ever been, I guess they made a fortune in grading fees
but I heard a lot of dealers were not happy with the very conservative grading.
Was it that the market is weakening, that there was a lack of quality material to buy, etc.?
Thanks in advance for your input and reply.
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"
and keep it off the market until they have a chance for regrade.
successful shows and an excessive number of major auctions. It is possible that there is a bit of fatigue
in the buying public. Its my opinion that collectors and dealers are catching there breath and resting a bit
before the next surge upward. There seems a strong rotation moving towards more classical coins from moderns.
This is not unusual, as such rotations back and forth are a normal part of the market. Toned Morgan Dollars are
getting rather scary. When you see bids of 4000 dollars for toned common 1881-s dollars, it seems to be getting
kind of toppy. I think dollars have a bit more to go, but I would be concerned moving too heavily into this segment
of the market at the current top. The move towards spectacularly toned Commemorative coins from 1892
thru the early 50s seems to be gaining momentum and seems to have a long way to go. The desire for perfection
that was developed in modern coinage is now reflecting back on classical type coins. Origonal, undipped coins
are a decreasing commodity on the market and the prices should continue on an upward bias. One dealer sold
several hundred thousand dollars to a client of type material. While I am not in that class, I spent well into 5 digits
on type and commem halves(Toned) . I havnt paid for most of it mind you, but I have a couple of weeks to work it
out.
Camelot
roadrunner
CherryPickinCoin I'd also like to hear why you've mentioned a number of threads with comments of dissapointed and so on....details details please! I have not heard that from too many others.
Bear you deserve those upgrades - so I hope good news comes soon
Marc
As a Morgan collector and lover I agree that they are getting "toppy" -- especially the specialty toned coins that sell for many price multiples of their mint state counterparts.
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"
Mike
Visit Our Website @ www.numisvision.com
Specializing in DMPL Dollars, MONSTER toners and other Premium Quality U.S. Coins
*** Visit Mike De Falco's NEW Coin Talk Blog! ***
WOW!!!!!!!! I can remember a time when you could have actually PURCHASED some nice coins for $1700.00 instead of giving it away to a grading service to see if they like your coins better this time around.
dragon
and just stayed home.
Camelot
They make money when the trading activity levels are high, and really are in a no lose situation...
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"
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
show, while the majority probably were lucky to break even. I dont understand it and I really cant explain it.
Camelot
Check out some of my 1794 Large Cents on www.coingallery.org
<< <i>I sold about 2/3 of my show inventory >>
I sold 100% of my inventory today. It doesn't mean I made any money.
Russ, NCNE
Robert
Camelot
Perhaps buying coins at the bourse has become passe. I know that I rarely do.
Robert
the necessary qualities I demand on my coins and the characteristics I will not accept.
A show is a good chance for me to see these dealers inventory. A number of
coins are not listed on their websites for various reasons and I enjoy the opportunity.
I dont bid at auctions any more because it requires iron dicipline not to get caught in
an adrenalin rush together with testosterone surge to establish who will dominate.
When a dealer sends me a coin to review. I get several days to evaluate and think about
the coin. Perhaps other people are more adept at snap decisions, but I prefere to take my time
since its my money being spent. Also I am not in the coin bussiness, I am a pure collector.
In addition at a show, I can get to chew the fat a bit with people and get a good feel for the market,
trends and catch up on rumours and scuttlebut. Simply, the real thing is still fun for me.
Camelot
I was expecting toned Morgans to be weak at the auction....afterall, they're usually sold by Heritage on Friday afternoon....not on Saturday morning. Quite a number of dealers had either left on Friday evening or were planning to pack to leave this morning.
As it turned out, bidding was strong for toned Morgans. I quite bidding on the one I wanted at $1400, which is where it was hammered. I talked to the new owner later and he was prepared to go much higher. I may get to own it eventually. Many other toned Morgans sold for what I thought was strong money. If the market's going to top, I wish it would do so soon so I could add some new material to my inventory.
GSA sales were brisk with dealers. I probably sold about 40 decent coins.....several 79-CC's included. GSA sales to the public were spotty. I did manage to buy a few GSA's that I thought were undergraded by NGC.
But my best purchase was very late this afternoon. After the public began to leave the show, I started to make the rounds. Way back in the 'ancients' section I came across a couple of 85-CC GSA's but had to wait for the owner to return. When he finally did, I asked about them and a single GSA piece he had behind his table. He wanted $380 for the 85-CC's (one of which I bought immediately) but said that the other GSA piece he wanted to send to NGC. I asked if I could still take a look at the coin.
He handed it to me saying he expected to get a 65PL designation. Well, when I looked at the coin, I almost peed in my pants. I felt it was a lock 66 DMPL with a good shot at 67DMPL. This coin is incredible. It took some fancy footwork on my part to talk him into giving me a price but he finally did. He wanted $600 for the coin. With the 85-CC at $380, that would come to $980 total.
I gave him 10 C-notes and thanked him for his patience.
GSAGUY
grading. I especially noticed that PCGS was extra tough on the white coins. I made nothing that was white. I did
make 3 big coins (big for me) and all three were original and lightly toned. My top score was a 1949D MS68FB Roosie.
POP 1. I submitted the coin on the $65 regrade tier and I wasn't even there to get the coin back.
I submitted it on Wednesday around 2:00 and it came back today around noon. I had a friend pick it up and
got the good news about noon today.
I liked the tight grading and I have no complaints.
Onlyroosies
around at the show with a bad hair piece all day. But we will absolutely
put our collective feet down about peeing in ones pants. We had enough water on the floor
this morning. Also I still want that certain 85-O Morgan.
Camelot
Great score on the GSA CCs!
I hadn't read this thread before I just started one about what I thought were very strong prices realized in the sale for nice toned stuff. I really wanted that 02-O ICG66 because it was one of the first toned coins I bought off E-Bay a few years back for $180. It was in a green PCGS65 holder. Also, many of those beauties were coins that I was fortunate enough to own before this sale. Too bad I can only borrow them.
An 1882-CC with great toning and a slightly rotated die. Today while roaming the floor with Clw54, he spotted a 09-S (Fine) I needed. I just need to locate a 09-S VDB to finish off my Lincoln set.
Plus it always a pleasure to meet and spend the day with the distinguished members, past & present, of this board.
<< <i>I didn't know you got a 1914-D, MrLee. >>
Sorry Claw. I thought I told you. I stayed late Thursday and continued roaming the floor. I found it at the "Indian Head Lady's" table and she made me a deal I couldn't turn down.
<< <i>The grading by PCGS seemed fairly tough >>
The understatement of the year. They should have gave out vaseline with the coins.
morris <><
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