Long Beach Report 9/14/2006 - Gold, Seated, Toned, etc.
Tarmac
Posts: 394 ✭
Since I was "in the neighborhood" I decided to drop in on the Long Beach coin show. It was a dreary foggy day outside with a sprinkling of rain and maybe
that's why there was not a huge turn out inside?
But first, my pet peeve. Why is the convention center parking structure always full? I got there at 9:40 [show starts at 10am] and the full sign was already
up. OK, plenty of parking across the street and in nearby lots but what are they thinking at the LBCC? What ticks me off even more is I saw dozens of
empty spots when leaving and they still had a full sign. Go figure.
Inside it was busy but no where near as overwhelming as in past shows where you could barely move. I was there for about 3 hours and it was a joy. I was
tired from all the walking and not from being pushed.
The Heritage lot viewing was in full swing and not an empty chair in sight. Will be interesting to see what prices are realized given the high interest in
viewing. Had not seen it like this so early in a long time.
I focus on toned, gold and type coins so I cannot offer much on what I saw in moderns, commems, etc.
Toned coins were plentiful and prices have come down and dealers were eager to bargain without too much prompting. I saw tons of toned Morgans and
2-3 dealers with some questionable [cough cough] raw toned in large supply.
Gold was everywhere. Really nice hard to find pieces, bust and southern classic gold were seen at several tables. The flood gates have opened on MS65+
common date $20s. If you were in the market there was plenty to select from.
As usual I saw no to little attractive PCGS Barber Half material. Who is hoarding all these coins! It's like they do not exist and when they do they are dipped
out or slabbed out blah specimens. Same for the .25 & .10
Bust Half coins were in large/adequate supply but prices are higher than last year for 63s on up. Lots of nice toned ones. People must be collecting more of
these as prices remain strong for attractive pieces.
SeatedLiberty Half & Quarters were readily available and I saw some "rare" , little seen dates in MS64-66 which were a absolute steal. I am amazed at
how the Seated Halves are so low in population and so few people collect them. Imagine large beautiful silver coins with PCGS total populations of 64 and
higher with only 24 graded selling for about $1200-$2500 depending on the mint and toning. I rather have a few of these vs. a FS Buffalo or anniversary set.
But that's me!
Type coins were also in adequate supply with soft pricing [I wish more dealers would put VISIBLE prices on their coins]. Again an area where there are
bargains galore.
I did not stick around for the auction as I had to return to work. I was encouraged by the large number of kids I saw. I guess school starts late? That's
always very good long term for the hobby.
There was an exhibit by the folks who market the SS something or another, surrounded by armed security. Well, that's one way to get attention I guess.
Sell the sizzle! I will never understand buyers motivation in accquiring these coins. However, the marketing of them is brilliant.
I heard several dealers moaning over gold's plummet and there are comments about some dealers being over extended in their gold exposure. Could lead
to some liquidations of inventory to cover the margin/losses. When gold is down as much as it has been in the last month the mood cannot be good.
Personally, I think this decline is healthy and a super buying opportunity. You'll be glad you did 24 mos from now IMO.
As I left it was quiet at the check in table and the crowd was about the same as when I arrived. What had changed was now sunshine and warmer temps.
This was one of the more enjoyable shows I've attended in a long time given the over crowded ones in the past. I know many have never attended a
national show but they should take the plunge. It's an experience you will never forget. I hope to take a few coworkers the next time and maybe get them
hooked.
that's why there was not a huge turn out inside?
But first, my pet peeve. Why is the convention center parking structure always full? I got there at 9:40 [show starts at 10am] and the full sign was already
up. OK, plenty of parking across the street and in nearby lots but what are they thinking at the LBCC? What ticks me off even more is I saw dozens of
empty spots when leaving and they still had a full sign. Go figure.
Inside it was busy but no where near as overwhelming as in past shows where you could barely move. I was there for about 3 hours and it was a joy. I was
tired from all the walking and not from being pushed.
The Heritage lot viewing was in full swing and not an empty chair in sight. Will be interesting to see what prices are realized given the high interest in
viewing. Had not seen it like this so early in a long time.
I focus on toned, gold and type coins so I cannot offer much on what I saw in moderns, commems, etc.
Toned coins were plentiful and prices have come down and dealers were eager to bargain without too much prompting. I saw tons of toned Morgans and
2-3 dealers with some questionable [cough cough] raw toned in large supply.
Gold was everywhere. Really nice hard to find pieces, bust and southern classic gold were seen at several tables. The flood gates have opened on MS65+
common date $20s. If you were in the market there was plenty to select from.
As usual I saw no to little attractive PCGS Barber Half material. Who is hoarding all these coins! It's like they do not exist and when they do they are dipped
out or slabbed out blah specimens. Same for the .25 & .10
Bust Half coins were in large/adequate supply but prices are higher than last year for 63s on up. Lots of nice toned ones. People must be collecting more of
these as prices remain strong for attractive pieces.
SeatedLiberty Half & Quarters were readily available and I saw some "rare" , little seen dates in MS64-66 which were a absolute steal. I am amazed at
how the Seated Halves are so low in population and so few people collect them. Imagine large beautiful silver coins with PCGS total populations of 64 and
higher with only 24 graded selling for about $1200-$2500 depending on the mint and toning. I rather have a few of these vs. a FS Buffalo or anniversary set.
But that's me!
Type coins were also in adequate supply with soft pricing [I wish more dealers would put VISIBLE prices on their coins]. Again an area where there are
bargains galore.
I did not stick around for the auction as I had to return to work. I was encouraged by the large number of kids I saw. I guess school starts late? That's
always very good long term for the hobby.
There was an exhibit by the folks who market the SS something or another, surrounded by armed security. Well, that's one way to get attention I guess.
Sell the sizzle! I will never understand buyers motivation in accquiring these coins. However, the marketing of them is brilliant.
I heard several dealers moaning over gold's plummet and there are comments about some dealers being over extended in their gold exposure. Could lead
to some liquidations of inventory to cover the margin/losses. When gold is down as much as it has been in the last month the mood cannot be good.
Personally, I think this decline is healthy and a super buying opportunity. You'll be glad you did 24 mos from now IMO.
As I left it was quiet at the check in table and the crowd was about the same as when I arrived. What had changed was now sunshine and warmer temps.
This was one of the more enjoyable shows I've attended in a long time given the over crowded ones in the past. I know many have never attended a
national show but they should take the plunge. It's an experience you will never forget. I hope to take a few coworkers the next time and maybe get them
hooked.
0
Comments
VF-XF, PCGS, Barbarber Halves on Friday. I bet they don't
last long. They are some of my duplicates.
By the way, great report Tarmac. Very informative.
Camelot
Thank you for taking the time to write it.
An authorized PCGS dealer, and a contributor to the Red Book.