NCNA Coin Show Report
Mowgli
Posts: 1,219 ✭
I drove from Asheville to Hickory for the annual NC Coin Show this morning. For a state show it didn't seem very big or crowded but it is only Friday. The Asheville Coin Show held earlier this year was packed to the gills but had less tables in a narrower space. There was no problem navigating the tables at the Hickory show.
Normally I wouldn't comment on a coin show but my observations discouraged me from attending similar shows in the future. I collect Barbers in AU and the very first person I asked if they had any "AU"s told me -"If I had any of them, they would have been gone by 10:05 AM". Apparently this was the case througout the show save for a few common dates (based on what I saw). I had simlar success looking for an AU/MS 1873 3CN with a closed 3. For people collecting Morgans, Walkers, Washington quarters, and other 20th century coins there was a lot to look at. I do not collect gold but there seems to be a lot of it for sale. A great many of these coins were raw. I also saw a lot of home-made and 3rd tier plastic. I looked at some coins out of curiosity and their prices did not reflect an economy in trouble.
People were buying - one man was purchasing a lot of lower grade Barber halves and another had a fist full of Washington quarters. For me, I do not think that there were any truly rare coins at the show - things like 1909S-VDB and 1916-D dimes were available. My comments are restricted to what I collect. I guess there could have been some rare silver dollars.
It seems like these shows are set up to meet the needs of the what the majority of people collect - duh! My local dealer keeps nice inventor8ies of Morgans, Peace, Buffalos, Lincolns and Indian cents with lots of modern proof and mint sets. It is what sells.
Anyway, the best part of the show was swapping lies with the less busy dealers. I guess I should paraphrase - I was lying. One fellow who looked like he came from the local shelter told me that his grandfather left him a BU roll of 1916 quarters - the last five of which he sold through Heritage as MS 65/66s. It made me wish my grandfather had been as thoughtful.
Normally I wouldn't comment on a coin show but my observations discouraged me from attending similar shows in the future. I collect Barbers in AU and the very first person I asked if they had any "AU"s told me -"If I had any of them, they would have been gone by 10:05 AM". Apparently this was the case througout the show save for a few common dates (based on what I saw). I had simlar success looking for an AU/MS 1873 3CN with a closed 3. For people collecting Morgans, Walkers, Washington quarters, and other 20th century coins there was a lot to look at. I do not collect gold but there seems to be a lot of it for sale. A great many of these coins were raw. I also saw a lot of home-made and 3rd tier plastic. I looked at some coins out of curiosity and their prices did not reflect an economy in trouble.
People were buying - one man was purchasing a lot of lower grade Barber halves and another had a fist full of Washington quarters. For me, I do not think that there were any truly rare coins at the show - things like 1909S-VDB and 1916-D dimes were available. My comments are restricted to what I collect. I guess there could have been some rare silver dollars.
It seems like these shows are set up to meet the needs of the what the majority of people collect - duh! My local dealer keeps nice inventor8ies of Morgans, Peace, Buffalos, Lincolns and Indian cents with lots of modern proof and mint sets. It is what sells.
Anyway, the best part of the show was swapping lies with the less busy dealers. I guess I should paraphrase - I was lying. One fellow who looked like he came from the local shelter told me that his grandfather left him a BU roll of 1916 quarters - the last five of which he sold through Heritage as MS 65/66s. It made me wish my grandfather had been as thoughtful.
In the land of the blind the one-eyed man is king.
0
Comments
To support LordM's European Trip, click here!
JIm
<< <i>I considered going to this show this weekend - would it be worth the 3 hour drive? >>
It was not worth the 75 minute (one way) drive for me but I was looking to buy something. The shows are still fun if you get to talk with other collectors and dealers.
<< <i>I went to the show today and am always surprised by how much people want for their junk. Is it impolite to point out that the prices they are asking is silly? I want to ask some of them who in their right mind would pay that much money for item x when the market is only asking 60% of that price!? Finally, isn't a little silly for someone to put thousand dollar coins in 2 x 2 cardboard holders and then write something on the top like MS61. I mean like who cares what you write on that- unless you are guaranteeing its going to grade at that level put your pen back in your pocket protector coin whiz and let the buyer decide. Ugh, so many weirdo's at coin shows!!! >>
very true
I give away money. I collect money.
I don’t love money . I do love the Lord God.
First, I had to sell off some wartime nickels, and some 40% silver. Its not cost effective for me to list or sell here due to shipping weight per dollar value. I also had to locate a few year set coins and couple other odd & ends for customers.
My observations: Like the commentary above, there sure are a lot of people asking extrememly optomistic prices for stuff. Anything that was good, was priced that way and not much of it. Still continues to be a lot of raw overgraded /problem stuff swirling in bourse dealer inventories. Didnt really see any nice problem free early draped bust coins, or seated material. There was the occasional junk. Tons of common date type. Lots of Morgans, lots of low grade psuedo keys, and quite a bit of raw/ Lower Ms type gold available. Lots of mid early copper large cents / half cents, but most looked typical, there may have been a few goodies if one had time, to really dig in, but my time was limited on the bourse from the class. I did buy one nice 1833 NGC 58 1/2 cent. Boy if you wanted commem's ,proof sets and that stuff, you could up filled up 2 18 wheelers full!!!!!
There did appear to be collectors buying collector material , as I saw places being left where coins were sold out of rows of 2x2's displayed in cases. Not sure the extent of buyers as talking with a few dealers, some complained they didint even make table fee's and were leaving early and others claimed they had a great show so far. I think it really depended on the material they had to offer and pricing structure.
One thing I will note that that indicates slower sales on lots of stuff, and items not flying out of the cases like it was 12 months ago. I saw several items in several dealers cases (that have been in there inventory for over a year now) and some are pretty nice , and actually priced fair, people are just not buying it like they were.
One other difference in this show this year, there also seemed to be a larger number of vest pocket dealers and collectors who came to the show to sell stuff to the dealers. This show would have the occasional walker conducting (selling) business, but many more this year. I have attended this show the past 5 years and it was quite noticeable the large number of people offering coins back to the dealers this time around. From what I herd in the short time, many were very selective in purchasing, and offer lower prices. I also herd the same old song and dance that gives many delaers a bad rap. One guy was offering some coins back and the dealer pointed out all the negative and problems with the coins and why he could only offer x$ etc. And the guy was basically saying when you sold me these it was the best thing since slice bread !
Jim