CSNS- show report
jdimmick
Posts: 9,668 ✭✭✭✭✭
I arrived at the St Louis Convention center around 1:00pm on Wednesday, of course at that time the show was just opening at 3:00pm for PNG deales and early bird holders only. So I spent the first couple of hours viewing Heritage auction lots which was originally the reason for my trip. (specifically the 01-s quarter) and a few others. The 01-s quarter was trully heartbreaking to see, the coin was so original and nice, with ample amounts of luster left and great strike, a solid Xf-40 yet had a deep scratch on the obverse that ran from just under the ear out through the stars. It wasnt that bad at first glance, but bothersome the longer you viewed the coin. Under magnification, the scratch was quite deep!! I was a little worried becuase I had bid so strong from home and still retained high bid through the internet portion of the bidding. At that time I had decided that if I did win it at that current bid level, I would be fine with it?? but that I would not bid higher on the floor. One of the other coins In the sale I did not like at all, it went extrmemely high and to an internet bidder that is going to be surprised when it arrives as the on-line photo makes the coin look nice, but it is not even close by any means in person. (A perfect example of why it is an absolute must that you either make arrangements to view coins in person or have some one knowledgeable to do it for you!!!!).
After viewing the Heritage lots I went in at 3:00pm and looked around at the PNG dealers tables. Some of the tables had coins out for viewing, but many were selling out of slab boxed inventory. I do not like sitting at dealers tables going through boxes of slab coins, so I only stuck to the displayed dealers. I didnt see any thing that intrested me currently, but I did witness a lot of dealer to dealer trading. Since I was not prevy to PNG info , I cannont comment on the price levels between dealers as being soft or strong. Looking around I did notice a lot of generic coins for sale and the typical show inventory you see. Since only PNG delaers could set up at this time, I basically went back over and looked through auction lots for something to do for the rest of the day.
On Thursday once the floor opened for regular dealer set up and early birders thier was quite a bit more floor traffic. At this time I began to set out stuff for sale and had quite a few intrested folks wanting to know what we had to offer. I had brought a long a small group of fresh choice type coins myself (seated quarters, three cent, halve or two) that I had priced at a little above ask, happily to say that went very quickly in about 30 minutes. I probably had them priced lower than most folks, but since I made (PCGS) them all, I was into them fairly good. I was assisiting Steve Elwood who has a very nice selection of early material including bust quarters and halves. Thier seemed to be some intrest in those coins as well as sales were very good. Each show that I have been too, folks seemed to be getting more and more selective in thier purchases, they dont mind spending the stronger money, if the coins are fresh and nice for the grade, and especially if they are tougher to locate. Also more and more collectors are focusing on varieties in earlier series such as Bust coinage rather than date collecting. A peek around the floor later in the day I noticed a lot of typical key-date coins for sale. Coins like the 09-s vdbs, 26-s buffalo's, 32-d washington quarters, 16 SLQ's were everywhere. Some dates that everyone was hollering for 6 months ago were also in overabundance at this show. I saw numerous 22 no d Lincolns for sale including at least have a dozen in PCGS AU grades as well as several 34-s Peace dollars in all grades from Ms-64 down. Lots and lots of 93-s, 95-P and 94-p morgans. It appears that the stronger prices have brought out so many coins that oversaturation is occuring with a lot of specific key-dates. I feel that recent auction results have begun to confirm this as well. The typical key-dates are doing marginally at times in these sales, yet scarcer ones that infrequently come about continue to do super strong.
Some of the prices realized on the Tom Mershon Lincolns were insane, it continues to be folks chasing the registry numbers. Shame though, some of the coins in that sale I was not that overly impressed with. The 09-s vdb that sold for 92k, I have seen nicer ones carried by some of the lincoln dealers such as Angel dees in the past, the number on the holder may not have been as high, but the coin sure looked nicer. Same thing with top pop Buffalo nickels with a 1929 selling for 55k, thats crazy! two grades lower and its less than 100.00. Anyway, I saw a lot of gold for sale on the floor including C and D coins, but I am not familiar with date scarcity, so I am not sure if its the same coins continuing to be shown. Thier was quite a bit of early gold as well, but most were the worked over, cleaned up un original un-appelaing type. Some of the nicest early gold I got to view was for a future consignment coming to ANR including a super nice 1795 $10.
Thursday evening at the auction I was anxiously awaiting the bidding on the 01-s quarter, well I still had high bid and the coin when it opened on the floor, thier were two additional bids and it closed at 20,700.00w/juice. To much for a damaged coin IMO, however, had the scratch not been thier I believe I would have surpassed the 25k mark without a second thought. Everyone asked me whay I was bidding anyway with such a nice Fine in my possesion. Happily to say that I have added a lot more folks to the list of potential buyers when it comes time to sell it.
On Friday, I headed back over to the show and basically worked the table the rest of the day. Dealer to dealer seemed brisk prior to the floor opening to general public, and then a decent surge of collecting public came in. The crowd remained steady through the better part of the day with people contuing to look for nice quailty coins, but being selective. We were set up next to Brian Greer who specializes in Barber and seated coinage. He carries a nice selection of semi-key dates in those series. IMO, thier is still a strong collector base chasing ""nice"" semi-key date barber, bust and seated coins.
Well I ended up not buying anything at auction, or at the show except for a nice new ESCHENBACH "achromat" magnifying glass. I had been meaning to buy one for a long time, but frankly have been to cheap to shell out the 130.00 bucks until today. I am glad I went ahead and splurged, as it is truly a nice lens and it will aide in viewing coins.
One last thing before I left about 5:30 on friday to come back home, I did get to meet and chat with a few of the forum members including coppercoins, bajjerfan, and it was a real pleasure. Numismatist took me over and showed me his fabulous tone coin display, truly spectacular. One topic that continued to be mentioned was that most of us hope the boards can get back to what they were intended for and a lot less of the bickering and childish mess that occurs here quite frequently as of late. All in all I had a good time, came home in a good cash position and unloaded everything that I wanted to sell. My collection is now purged down to only the best of the best PQ choice material that are long term keepers?? Ill let the dealers post about market conditions as I spent most of my time working the table so I was not aware of what was going on at other tables, but thier were some rumors amongst dealers that it might be a good idea to only be holding the best material??? (make your own anylasis after reading an assortment of various show reports).
Jim dimmick
After viewing the Heritage lots I went in at 3:00pm and looked around at the PNG dealers tables. Some of the tables had coins out for viewing, but many were selling out of slab boxed inventory. I do not like sitting at dealers tables going through boxes of slab coins, so I only stuck to the displayed dealers. I didnt see any thing that intrested me currently, but I did witness a lot of dealer to dealer trading. Since I was not prevy to PNG info , I cannont comment on the price levels between dealers as being soft or strong. Looking around I did notice a lot of generic coins for sale and the typical show inventory you see. Since only PNG delaers could set up at this time, I basically went back over and looked through auction lots for something to do for the rest of the day.
On Thursday once the floor opened for regular dealer set up and early birders thier was quite a bit more floor traffic. At this time I began to set out stuff for sale and had quite a few intrested folks wanting to know what we had to offer. I had brought a long a small group of fresh choice type coins myself (seated quarters, three cent, halve or two) that I had priced at a little above ask, happily to say that went very quickly in about 30 minutes. I probably had them priced lower than most folks, but since I made (PCGS) them all, I was into them fairly good. I was assisiting Steve Elwood who has a very nice selection of early material including bust quarters and halves. Thier seemed to be some intrest in those coins as well as sales were very good. Each show that I have been too, folks seemed to be getting more and more selective in thier purchases, they dont mind spending the stronger money, if the coins are fresh and nice for the grade, and especially if they are tougher to locate. Also more and more collectors are focusing on varieties in earlier series such as Bust coinage rather than date collecting. A peek around the floor later in the day I noticed a lot of typical key-date coins for sale. Coins like the 09-s vdbs, 26-s buffalo's, 32-d washington quarters, 16 SLQ's were everywhere. Some dates that everyone was hollering for 6 months ago were also in overabundance at this show. I saw numerous 22 no d Lincolns for sale including at least have a dozen in PCGS AU grades as well as several 34-s Peace dollars in all grades from Ms-64 down. Lots and lots of 93-s, 95-P and 94-p morgans. It appears that the stronger prices have brought out so many coins that oversaturation is occuring with a lot of specific key-dates. I feel that recent auction results have begun to confirm this as well. The typical key-dates are doing marginally at times in these sales, yet scarcer ones that infrequently come about continue to do super strong.
Some of the prices realized on the Tom Mershon Lincolns were insane, it continues to be folks chasing the registry numbers. Shame though, some of the coins in that sale I was not that overly impressed with. The 09-s vdb that sold for 92k, I have seen nicer ones carried by some of the lincoln dealers such as Angel dees in the past, the number on the holder may not have been as high, but the coin sure looked nicer. Same thing with top pop Buffalo nickels with a 1929 selling for 55k, thats crazy! two grades lower and its less than 100.00. Anyway, I saw a lot of gold for sale on the floor including C and D coins, but I am not familiar with date scarcity, so I am not sure if its the same coins continuing to be shown. Thier was quite a bit of early gold as well, but most were the worked over, cleaned up un original un-appelaing type. Some of the nicest early gold I got to view was for a future consignment coming to ANR including a super nice 1795 $10.
Thursday evening at the auction I was anxiously awaiting the bidding on the 01-s quarter, well I still had high bid and the coin when it opened on the floor, thier were two additional bids and it closed at 20,700.00w/juice. To much for a damaged coin IMO, however, had the scratch not been thier I believe I would have surpassed the 25k mark without a second thought. Everyone asked me whay I was bidding anyway with such a nice Fine in my possesion. Happily to say that I have added a lot more folks to the list of potential buyers when it comes time to sell it.
On Friday, I headed back over to the show and basically worked the table the rest of the day. Dealer to dealer seemed brisk prior to the floor opening to general public, and then a decent surge of collecting public came in. The crowd remained steady through the better part of the day with people contuing to look for nice quailty coins, but being selective. We were set up next to Brian Greer who specializes in Barber and seated coinage. He carries a nice selection of semi-key dates in those series. IMO, thier is still a strong collector base chasing ""nice"" semi-key date barber, bust and seated coins.
Well I ended up not buying anything at auction, or at the show except for a nice new ESCHENBACH "achromat" magnifying glass. I had been meaning to buy one for a long time, but frankly have been to cheap to shell out the 130.00 bucks until today. I am glad I went ahead and splurged, as it is truly a nice lens and it will aide in viewing coins.
One last thing before I left about 5:30 on friday to come back home, I did get to meet and chat with a few of the forum members including coppercoins, bajjerfan, and it was a real pleasure. Numismatist took me over and showed me his fabulous tone coin display, truly spectacular. One topic that continued to be mentioned was that most of us hope the boards can get back to what they were intended for and a lot less of the bickering and childish mess that occurs here quite frequently as of late. All in all I had a good time, came home in a good cash position and unloaded everything that I wanted to sell. My collection is now purged down to only the best of the best PQ choice material that are long term keepers?? Ill let the dealers post about market conditions as I spent most of my time working the table so I was not aware of what was going on at other tables, but thier were some rumors amongst dealers that it might be a good idea to only be holding the best material??? (make your own anylasis after reading an assortment of various show reports).
Jim dimmick
0
Comments
One of the best show reports I've ever read!
Check out the Southern Gold Society
3 "DAMMIT BOYS"
4 "YOU SUCKS"
Numerous POTD (But NONE officially recognized)
Seated Halves are my specialty !
Seated Half set by date/mm COMPLETE !
Seated Half set by WB# - 289 down / 31 to go !!!!!
(1) "Smoebody smack him" from CornCobWipe !
IN MEMORY OF THE CUOF
And typically there may only be a dozen or two uncs known....sometimes less than a dozen. Yet you're example of a 29 BUFF with thousands of UNCs and hundreds of gems is quite striking. Which one will hold up over time? We'll find out eventually.
That magnifier you mentioned comes in very handy when viewing coins for varieties through glass cases. You can see the coin perfectly w/o distortion and don't have to wait for someone to pull out a coin for you. Many times they are not at their cases and you can still complete your inspection. The lack of distortion also is a big aid in seeing all the flaws in one view....you miss less.
roadrunner
The neatest coin I remember seeing was in the Heritage case. A 1911 matte proof $20 in PF68. Virtually flawless with just an amazing look.