Parsippany, NJ Coin Show Report! From both sides of the table!

AnkurJ

Today was the monthy Parsippany, NJ coin show featuring over 100 dealers. There is always good array of material including early copper, type, paper money, and lots of bullion. I was hoping to split a table with fellow board member the fonz, and luckily the cards fell into place. So for the first time, I was actually set up as a dealer and walked the floor while fonzy was at the table.

The rising prices of silver and gold had everyone in a buzz. Silver was selling feverishly. Whether it was bars, silver eagles, rounds, everything was selling! Silver eagles were bringing $30 to $32, and rounds were bringing $28 to $30. I sold five rounds to a dealer @ $30 each. I had no sales to the public/collectors. People were looking, but $10 here or there was enough to make them pass. All of my sales were to dealers directly. Gold was plentiful, but people seemed hesitant to put money into it. Even dealers preferred buying silver over gold. Board members I saw were Seaeaglecoins, the fonz of coures, rld14, kishiu, DaveG and Andy Lustig. I left around 1pm, and the larger room still had a pretty good crowd even though many dealers started to leave.

As for purchases, I purchased a 1 ounce silver round with an Indian design for no reason other than I liked the design, a purdy toned bust quarter, and a loupe! I was hoping to see some earlier draped bust material. What I did see had too many minor issues or was just overpriced. Saw a decent 1799 PCGS VF30 CAC Bust dollar for $2550, but it had too many marks and hits for my taste. Also saw a 1799 PCGS F15 CAC bust for...$2500! The coin had an old dip and since had toned rims from being in an album. I didn't know what to say to the dealer so I simply passed. He has has had the coin for a while, and I am assuming he bought it when prices were high. That will be a tough sell.

It is surprising that CAC will sticker early coins that have issues such as dipping. I thought a CAC sticker meant the coin was not messed with, but that doesn't always seem true.

Overall a great show for me sale-wise, and decent purchase-wise thanks to Seaeaglecoins. Check this show out if you can!

Ankur

SeattleSlammer

Thanks for the report. Just as PCGS/NGC often grade coins with old cleanings...it seems that CAC also goes along with it.

Justacommeman

John Albanese (CAC) has stated that he doesn't have an aversion to dipping. MJ

speety

Dipping, when done correctly, is not usually seen as "cleaning" or damage. I personally don't have too big of a problem with dipping in many cases.

On a more important note - I know you have a decent camera setup now - get some pics of the bust quarter!

ricko

Dipping, done properly, is acceptable to TPG's and FPG's. It is only certain purists that reject this harmless, and usually beneficial, treatment. Cheers, RickO

oreville

At the show, many dealers were paying 20x face for the 90% silver and only one dealer was paying for the 40% silver halves at 8x face.
My daughter unloaded much of her 90% and 40% silver.

Ankur stated:

<< <i>Gold was plentiful, but people seemed hesitant to put money into it. Even dealers preferred buying silver over gold. >>


Well, that was not true in my case, see below!

I purchased from Tom of Dart Coins a spectacular 1927 Saint $20 graded by Hallmark as MS-62 but is a shot MS-64!!!

SPECTACULAR INDEED!!!

Tom knew what he was selling and charged accordingly, but I needed a $20 gold coin in a Hallmark slab!!!

Hmmmm, was it the coin or the plastic?????????????

AnkurJ

Here is the Bust quarter I picked up. NGC VF30 with lots of crust! Lots of scratches on the slab that plastx didn't remove either.
Tough to get the toning on this one.

The other thing I was looking for was Carson City gold to get a feel for the price. Was slim pickings, and two out of the five coins I did see were raw and cleaned.



AJ

DaveG

AnkurJ,

Good to see you today!

That's a nice Bust quarter.

If you're interested in CC gold, I'd recommend keeping an eye on Doug Winter's inventory, as well as signing up for his Internet specials (which tend to be more affordable than his regular inventory). You usually have to move fast on his Internet specials, though.

rld14

Parsippany cops did a lovely job writing parking tickets... and managed to block the road in front of the PAL hall while doing so.

Of course, the car with the thin blue line sticker didn't get a ticket.....

AnkurJ

Welcome back Bill!

66RB

Well Ankur, that was mighty sneaky of you to procure a table and not warn anyone in advance...I'm sure I'll meet you sometime anyway I'm amazed you were able to get a table, good for you!

The Parsippany show in winter months seems so much more crowded with everyone wearing their bulky winter jackets....it's even tougher to get down the aisles!

I'm glad I was at the show yesterday...lately it's more common for me to come home empty-handed than having found anything, so I was happy to have picked up a 1910 Lincoln PCGS MS65BN from Tom Hyland that has some heavy wood grain toning and also a somewhat attractive 1921 Lincoln PCGS MS65RB from centmaster.

AnkurJ

I had no idea I would have a table until about a half hour before the show! Its basically whoever doesn't show up. I am considering becoming a fixture there, but depends on my work schedule.