Coin Show Report - Baltimore, MD
DaveG
Posts: 3,535 ✭
What can I saw about the Baltimore show? In a word - HUGE. I haven't been to FUN or Long Beach, but I have been to the summer ANA and Baltimore isn't much smaller, if at all. So many tables had two or three dealers that there could have easily been 1000 dealers there.
What coins did I see? A better question is what didn't I see! 19th Century Proof gold, the Cardinal collection of early silver dollars, high relief Saints, Pan Pac 50s, Mormon gold, Bechtler gold, etc. etc. The mind boggles!
I also saw a lot of garbage, especially in my specialty of no-motto O-mint gold.
For me, what really sank in this time was what being in a "coin bull market" means. What it means is that the "nicest" coins never hit the public bourse floor - they disappear on dealer day or get sold in hotel rooms the night before or go to auction or whatever. I guess the reason that it hasn't sunk in before is that I mostly go to Parsippany, which has experienced a rise in quality over the past couple ofyears (part of that may be because a show like Parsippany is one place where the coins from Baltimore disappear to). I did notice a difference in inventory between 3/02 (the first time I went to Baltimore) and 12/04 (the second time I went), but it didn't really sink in in December. This trip it sank in.
So, a low point for me - I didn't get anything substantial.
What were the high points?
1. Looking at the garbage (that I really wanted to want to buy) and not buying it reinforced my "buyer's discipline" not to buy a bad coin - you only feel the pain of paying up for a nice coin for a little while, but the pain of buying a bad coin lasts forever!
2. I saw some really nice coins today. I looked (drooled) on the Cardinal collection of early silver dollars; I saw some really nice 19th and 20th century proof gold; I saw some really original MS seated halves, etc., etc.
3. I had a very nice chat with njcoincrank, who, in an effort to cheer me up, let me look at his inventory. All I can say is WOW! (By the way, it was njcoincrank who said that the nicest material doesn't hit the floor and commented that I wasn't seeing his nicest inventory. If so, I would never survive seeing his nicer inventory, but I would die with a smile on my face!) What I did see of njcc's inventory was really heartening! I saw (and took a good look at for the first time) a Proof-65 1916 Buffalo nickel. SWEET! I had never considered owning a matte proof Buffalo, but now I may have to think about it. One slab made my jaw hit the floor - it was a MS Seated quarter with a really original look to it. OK, it wasn't "killer toning" buy it was clearly original. NGC had "helpfully" put a sticker on the slab saying that the coin might benefit from a trip through NCS. WHAT THE HE-- IS WRONG WITH THEM?! Do they want every coin in America to look the same? Also, njcc said he's heard that there is definitely an update of the H-K book on So-Called Dollars in the works and that he's getting inquiries about SCDs - (clearly the next "hot" segment - my comment, not his).
4. I saw some more SS Republic gold coins. The coins didn't look too "bad", as in, they didn't look really horrible, but to a trained eye (even my half-trained eye), the coins dance and sing "I've been conserved".
So, not such a great show for me. On the other hand, maybe it's time to sell some coins and build a bankroll for the market downturn (assuming it happens in my lifetime!)
What coins did I see? A better question is what didn't I see! 19th Century Proof gold, the Cardinal collection of early silver dollars, high relief Saints, Pan Pac 50s, Mormon gold, Bechtler gold, etc. etc. The mind boggles!
I also saw a lot of garbage, especially in my specialty of no-motto O-mint gold.
For me, what really sank in this time was what being in a "coin bull market" means. What it means is that the "nicest" coins never hit the public bourse floor - they disappear on dealer day or get sold in hotel rooms the night before or go to auction or whatever. I guess the reason that it hasn't sunk in before is that I mostly go to Parsippany, which has experienced a rise in quality over the past couple ofyears (part of that may be because a show like Parsippany is one place where the coins from Baltimore disappear to). I did notice a difference in inventory between 3/02 (the first time I went to Baltimore) and 12/04 (the second time I went), but it didn't really sink in in December. This trip it sank in.
So, a low point for me - I didn't get anything substantial.
What were the high points?
1. Looking at the garbage (that I really wanted to want to buy) and not buying it reinforced my "buyer's discipline" not to buy a bad coin - you only feel the pain of paying up for a nice coin for a little while, but the pain of buying a bad coin lasts forever!
2. I saw some really nice coins today. I looked (drooled) on the Cardinal collection of early silver dollars; I saw some really nice 19th and 20th century proof gold; I saw some really original MS seated halves, etc., etc.
3. I had a very nice chat with njcoincrank, who, in an effort to cheer me up, let me look at his inventory. All I can say is WOW! (By the way, it was njcoincrank who said that the nicest material doesn't hit the floor and commented that I wasn't seeing his nicest inventory. If so, I would never survive seeing his nicer inventory, but I would die with a smile on my face!) What I did see of njcc's inventory was really heartening! I saw (and took a good look at for the first time) a Proof-65 1916 Buffalo nickel. SWEET! I had never considered owning a matte proof Buffalo, but now I may have to think about it. One slab made my jaw hit the floor - it was a MS Seated quarter with a really original look to it. OK, it wasn't "killer toning" buy it was clearly original. NGC had "helpfully" put a sticker on the slab saying that the coin might benefit from a trip through NCS. WHAT THE HE-- IS WRONG WITH THEM?! Do they want every coin in America to look the same? Also, njcc said he's heard that there is definitely an update of the H-K book on So-Called Dollars in the works and that he's getting inquiries about SCDs - (clearly the next "hot" segment - my comment, not his).
4. I saw some more SS Republic gold coins. The coins didn't look too "bad", as in, they didn't look really horrible, but to a trained eye (even my half-trained eye), the coins dance and sing "I've been conserved".
So, not such a great show for me. On the other hand, maybe it's time to sell some coins and build a bankroll for the market downturn (assuming it happens in my lifetime!)
Check out the Southern Gold Society
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Comments
You only feel the pain of paying up for a nice coin for a little while, but the pain of buying a bad coin lasts forever!
That should be my motto. I have had my share of both kinds of pain.
Robert
You only feel the pain of paying up for a nice coin for a little while, but the pain of buying a bad coin lasts forever!
I'm with you, slim pickins' at Baltimore! I came home with just one coin. And that coin came from a dealer who bought it at auction to be placed in a collection ( lucky for me). Finding superb coins by just walking the bourse is nearly impossible. If you want top quality you MUST have a dealer looking out for you. The best coins are trading between dealers and will not be seen on their websites or in their cases....they go right to the strong hands of major collectors.
Any coins that I did see on the bourse that were of superior eye appeal were either problem coins or too pricey....or BOTH!
In the more collector grade nicer material there seemed to be plenty of dealers writing up sales. The guy who "found" the extra leaves Wisconsin Quarters was there and was very friendly--happy to show them or talk copper which is actually his main interest.
The meeting of the Toned Coin Club (TCCS) was well attended and some coins came out of the NON-Registry wood work that were amazing--POP 1 Buffalo's in PCGS MS-68 that would be impressive to anyone--toned or not. There are some amazing coins locked away that apparently no one ever sees--and they're not on the registrys. The TCCS meeting was a real eye opener--many coins MUCH nicer than any on the entire bourse floor for sale or show. Dr. Marshall Rose of these boards lead the TCCS group with some fantastic GEM+ Rainbow Morgans (although 4 never made it--they were ALL traded for 1 magnificent MS-66 Rainbow Morgan with electric bag toning!!)
al h.
great report! thanks!!
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Cameron Kiefer
The Wiley-Bugert book on Seated halves must really be out of stock. One of the book and supply dealers (not John Burns or Charlie Davis, but the other guy), had two copies (still in their shrink wrap) with $125 price stickers on them.
The same dealer had the Reiver book on early silver dollars on sale (half price?) Isn't there a new book on early dollars coming out?
Check out the Southern Gold Society
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"
david