CoinFest Show Report...PM's
SilverBaron
Posts: 767 ✭
Well.....
Short and (un)sweet.... There wasn't any!
Over 150 dealers and the pickens were mighty slim.... OK...here goes...
Soooo many dealers with Soooo much numismatic and paper inventory....
Up one isle and down the next.... even had the lady friend looking.... just in case I missed something....
Half way thru the first room and NOTHING......
then.... Oh look... 2 cast JM 100's.... $1200 each/firm..... OK... not bad..[for now].... just not for me. [pass].
Another dealer had 10 AGE's ........ $820 each...... A little stiff for me, even if it is the going rate. [pass].
For the entire rest of the show I found 1 K-Rand....... 1 Maple ..... and 2 1oz Engelhard gold bars at $800 each.
There wasn't even much in the way of misc. small gold..... and....
There were NO silver rounds or other bars of any size or make....... This had to be the PM poorest show ever.
I understand that bringing PM's to a show can be a pain.... especialy large amounts of silver...
Just shows that dealers are having NO trouble selling it all over the counter......
I know this is the PM forum.... but look the other way for a second...
Numismatics......
There have been a few other CoinFest show reports on the other forum and a few dealer sites....
I'm not saying that they/some dealers did not have a good, or even great. show.... butttt....
If this shows activity is any indication of what is to come.....
I dare say that 90% of all numismatics is in for a deep price correction....DOWN.
[ Please note that I am NOT commenting on the location, parking, or show rooms....just the market].
And now a comment from an old time collector [me] ........
Even though I feel that numismatic prices are going to drop, a lot, I still get such enjoyment from
collecting my favorite series that I am going to hold/add to the set....no matter what......
BUTTT.... It is my strongest recommendation that if you have ANY numismatics that you
are not passionate about...... think hard about selling them ASAP.
I also feel that the PM's are going to do SOOOOO well in the next 2-3 years....
that when ever I can find them at reasonable rates.... I am buying all that I am able.....
STACK'M TO THE RAFTERS!!
Short and (un)sweet.... There wasn't any!
Over 150 dealers and the pickens were mighty slim.... OK...here goes...
Soooo many dealers with Soooo much numismatic and paper inventory....
Up one isle and down the next.... even had the lady friend looking.... just in case I missed something....
Half way thru the first room and NOTHING......
then.... Oh look... 2 cast JM 100's.... $1200 each/firm..... OK... not bad..[for now].... just not for me. [pass].
Another dealer had 10 AGE's ........ $820 each...... A little stiff for me, even if it is the going rate. [pass].
For the entire rest of the show I found 1 K-Rand....... 1 Maple ..... and 2 1oz Engelhard gold bars at $800 each.
There wasn't even much in the way of misc. small gold..... and....
There were NO silver rounds or other bars of any size or make....... This had to be the PM poorest show ever.
I understand that bringing PM's to a show can be a pain.... especialy large amounts of silver...
Just shows that dealers are having NO trouble selling it all over the counter......
I know this is the PM forum.... but look the other way for a second...
Numismatics......
There have been a few other CoinFest show reports on the other forum and a few dealer sites....
I'm not saying that they/some dealers did not have a good, or even great. show.... butttt....
If this shows activity is any indication of what is to come.....
I dare say that 90% of all numismatics is in for a deep price correction....DOWN.
[ Please note that I am NOT commenting on the location, parking, or show rooms....just the market].
And now a comment from an old time collector [me] ........
Even though I feel that numismatic prices are going to drop, a lot, I still get such enjoyment from
collecting my favorite series that I am going to hold/add to the set....no matter what......
BUTTT.... It is my strongest recommendation that if you have ANY numismatics that you
are not passionate about...... think hard about selling them ASAP.
I also feel that the PM's are going to do SOOOOO well in the next 2-3 years....
that when ever I can find them at reasonable rates.... I am buying all that I am able.....
STACK'M TO THE RAFTERS!!
Silver Baron
********************
Silver is the mortar that binds the bricks of loyalty.
********************
Silver is the mortar that binds the bricks of loyalty.
0
Comments
It seems illogical to me that gold & silver will blast off and leave worthwhile US coins...especially MS61-67 US gold coins (pre-1934) in the dust. Such a scenario has not happened since we went fiat in 1971. While not impossible, I feel it's unlikely.
Speaking of Gainsville, I tried to price a couple of MS66 Saints from them and was quoted $2875, about 20% above Heritage. And these were not PQ by any means. In looking through some of the other higher grade saints I eyed some worthy DDR's but the premiums were high enough that I couldn't buy them.
I went to the show with the possible intention of unloading some MS65 Saints but decided to stand pat for whatever reason. I picked up a nice $20 Lib in NGC MS65 and didn't even own it for 5 minutes before someone I knew wanted it. $20 Libs in MS65 seem pretty cheap at the moment imo but I took a flip and moved on. If I could buy 10 of those at current levels I would, especially ones with nice color. Forget trying to find them with few marks and PQ surfaces. Those kinds of $20's either end up in 66 holders or don't come back to the market very often.
roadrunner
Yes.... I did see it and I should have reported it here..... my slip up.
At $16 per oz. I passed.
Road Runner...... "..It seems illogical to me that gold & silver will blast off and leave worthwhile US coins...especially MS61-67 US gold coins (pre-1934) in the dust. Such a scenario has not happened since we went fiat in 1971. While not impossible, I feel it's unlikely. "
Agreed..... You have touched on 7% of the 10% of numismatics that will do well.
As with any market in any thing... there will always be exceptions .... and that will be the other 3%!!
Keep on Stack'n.
********************
Silver is the mortar that binds the bricks of loyalty.