SLNA Show Report: St. Louis, Friday February 11, 2005

RYK

I just returned from the annual winter SLNA show. It is a three day retail show with a Dealer Day on Thursday. It was the busiest I have ever seen it, but admittedly, the first time that I have attended on Friday (I volunteered to work late tonight to have the mid-day off to go). There were also more national dealers at the show than I remember seeing including John Hamrick, The Reeded Edge, and US Coin. Some larger dealers had few coins on display and were clearly there for buying. Hamrick was already packing it in for the show.

One highlight for me was seeing a 1794 silver dollar (in an NCS slab) at The Reeded Edge table. There were actually quite a few bust dollars in various dates, grades and slabs, some with very nice eye appeal. Given how common these appear to be, the prices seem astronomical!

There was more better date, early, and branch mint gold at this show than I have ever seen before. Hamrick had lots of cool better date gold coins (49-O $10 NGC-61 !!! ) and more than half of the No Motto New Orleans $10 series in AU condition at his table. Since this is one of my main collecting pursuits, I spent a lot of time looking at the coins. Scattered slabbed early gold, occasional Dahlonega and Charlotte pieces (mostly low-end for the grade), and lots of CC $20's (including an 1878-CC PCGS-61 $20 at The Reeded Edge table which I believe was once owned by a forum member).

I also visited with James (Early US Coins, ex-business partner of Dennis, Jaderarecoins). He said that he was having a very good show, and he bought a few old large and half cents from my collection of a previous life--for strong money, if I may add. Once of the truly nice coin guys out there. He showed me his two album collections and some newps form a local auction.

Business, in general, seemed brisk. Lots of coins and money were changing hands. There was a lot of buzz in the room. The aisles were crowded. One thing that I continue to realize, some of the best stuff is behind the counter. You need to ask, to see it. Since I do not know who has what, and I probably will not buy it anyway, I never ask.

Important note: I did not see a single Wisconsin error quarter offered.

The favorite coin that I saw for sale, which I might purchase when I return over the weekend with my son, was an original raw XF 1861 $3. It had a lot of eye appeal, and the coin came from an older collector who collected that year because it was the year his grandfather was born. The price was very reasonable. If I did not already own an 1861 $3 and if I were not so afraid to purchase a raw gold coin, I would have snapped it up. I still might. I saw what at first looked like a nice, original 1856-S $3 in PCGS AU-53. On the reverse, there were a few deep scratches. If the coin were mine, it surely would have been BB'ed.

All in all, I had a good time. Going to a show makes me realize how many coins there are really out there for sale. It also makes me happy that I own the ones in my collection.

Robert

Wondo

Thanks for the report.

Garneteye

Thanks for the report, just like being there!

Dan

michael

great report and more in detail with lots of real show coin information than the usual brain dead hot red HOT market report

keep them coming

RYK

Thanks for the compliments.

It was very hot, but I felt a little better when I took of my jacket.

DaveG

Thanks for the good report.

Show reports are always my favorite posts to read!

Bear

Good report. Well done and thank you.

coinkat

great commentary... I have lost alittle interest in gold because I just never see quality coins at the right price. The New Orleans $10 no mottos with the exception of 1843, 1847 and 1851 are tough in original AU. I am sure I might get an argument that even the 43 and 51 are tougher than most collectors think.

RYK

The New Orleans $10 no mottos with the exception of 1843, 1847 and 1851 are tough in original AU. I am sure I might get an argument that even the 43 and 51 are tougher than most collectors think.

Agreed. All it takes is seeing one nice, original example in choice AU to make it hard for you to keep looking at them because most are not nice or original. Mind you, many dates are condition census in AU-55/58.

DaveG

Actually, I think that all of the O-mint eagles are tough in original AU - many, many of the AU coins that I see have been dipped.

But, just on numbers alone, I think that the 1851-O eagle in AU is really rather common: I've seen 15 of them in the past two years at shows (and only one lowly XF-45) - now don't ask me how many of them were original - way too few!

airplanenut

Sounds like a fun show! If you like 1794 dollars, go to the ANA and check out the Contrusi MS66

RYK

Sounds like a fun show!

Perhaps I made it sound that way so that you might choose to come here for college...

CardsFan

My only complaint with the show was parking. Twice I had to wait about ten minutes in a line of cars to get out of the gated parking lot. I'm not sure why it took to pay for parking and move on, but it sucked. Although each time I came in the gate there was no one waiting in the exit line... go figure I just picked the wrong times to leave.

cladking

<< <i>Thanks for the good report.

Show reports are always my favorite posts to read! >>



I enjoy the show reports even when they don't touch on my areas of interest. It's always
nice to know what's going on.

Thanks for the report.

Stunner

Sounds like a good time

RYK

I enjoy the show reports even when they don't touch on my areas of interest.

Sorry to neglect you. People were using clad quarters in the vending machines outside the bourse.

Actually, I did see more than a couple Kennedy collectors looking for dates, and I even saw a complete MS and proof Kennedy set in an album sell before my very (shocked) eyes. I also saw a lot of proof sets for sale including some opened and resealed sets from the 1950's selling for $250 (or so). It seemed like a lot to me.

Over the weekend, the "state quarter" crowds usually come, and there will be a lot more modern activity (quarters, Jeff nickels, and Kennedy halves). At least, that's what I see from my (snobbish) perspective. I will update my report if I get to go again this weekend. Right now, I am stuck at the hospital .

cladking

<< <i>

Sorry to neglect you. People were using clad quarters in the vending machines outside the bourse.

Actually, I did see more than a couple Kennedy collectors looking for dates, and I even saw a complete MS and proof Kennedy set in an album sell before my very (shocked) eyes. I also saw a lot of proof sets for sale including some opened and resealed sets from the 1950's selling for $250 (or so). It seemed like a lot to me.

Over the weekend, the "state quarter" crowds usually come, and there will be a lot more modern activity (quarters, Jeff nickels, and Kennedy halves). At least, that's what I see from my (snobbish) perspective. I will update my report if I get to go again this weekend. >>




I really wasn't fishing but thanks anyway. It all sounds good.



<< <i>Right now, I am stuck at the hospital . >>



I trust all is well?

northcoin

Thanks for the report. It would be interesting to learn if various parts of the country bring out different coins. I assume St. Louis is more of a regional show than what you would see at FUN or Long Beach. With gold going into a free fall concurrent with the St. Louis show it might explain why more of those behind the counter coins were being pushed into the limelight. Nobody wants to sell something they think will be worth more in a short time by holding onto it while at the same time there is nothing like a little market correction to shake loose those same coins.

Longacre

I think local shows and the amount of activity is one of the best ways to guage the market.