Coin show report - Pelham, Alabama
1970SilverArt
Posts: 482 ✭
Since the dealers in my area that I normally go to did not have any silver art bars (or .999 generic silver for that matter), I decided, at the last minute, to go on a road trip to attend a coin show in Alabama. This coin show was in a place called Pelham about 10 miles(?) south of Birmingham, Alabama (about a 2 1/2-hour drive one way for me from TN). I got there about 30 minutes early and just waited in my car and listened to some music until the show started. It was a decent sized show to me IMO but not as nearly as big as the one that I went to a month ago in Dalton, Georgia. I am going to guess about 60 dealer tables was the size of this Alabama coin show.
Of course my main objective was to find silver art bars and I did find 2 silver art bars that I liked and I paid $34 for the first one and $34.50 for the second one. Overall, there was very little bullion (especially silver) at this show. This was not too much of a surprise to me since gold and silver got pounded in the last 2 days. However, while I was looking for silver art bars, I did see a few prices on the very little bullion that was there and here are some prices that I saw:
SAE's: Starting at $5 over spot from the prices that I saw.
.999 generic silver: Not much .999 generic silver at this show but the lowest price that I saw was $34.50
Silver art bars: Not many of them available and all of them were common-minted ones. The lowest price that I paid for a silver art bar was $34.00.
1/10 GAE's: $190-$200.
I also saw some 1/10 Krugerrands but I did not see a price on them. Basically that was it in terms of bullion that I saw. I did see a little bit of selling but not very much given that spot is much lower now than it was 3 days ago. After I finished looking for silver art bars, I decided to look for some gold. I was looking for 1/20th oz size gold coins but there were none to be found. Most of the other dealer tables consisted of numismatic items and non-PM related coins. Since gold and silver crashed, I suspected that most of the dealers pulled their gold and silver bullion inventory because spot gold and spot silver dropped so quickly that they did not want to sell at a loss. I do not blame them to be very honest. I do not go to many coin shows in Alabama but this was the closest coin show to me and I decided to see what I could find.
Overall for me, It was an ok day. Not great but I did buy 2 silver art bars for a cheaper price and that it what mattered to me since that is my hobby. I did meet another silver art bar collector there and we talked about silver art bars for a while. I also met a dealer that also a Collector's Universe poster and we talked for a long while since this is the first time that I met another CU poster. I will not mention the poster's name unless this person wants to post on this thread.
Even though this coin show was a long drive from where I usually go (2 1/2-hour drive), it is worth it because I like finding silver art bars and I just like that atmosphere that a coin show offers. Since I did not buy many silver art bars at this show, I did have some cash left over and that might be a good thing to keep some cash just in case my local dealers have more silver art bars that enter their shops.
Of course my main objective was to find silver art bars and I did find 2 silver art bars that I liked and I paid $34 for the first one and $34.50 for the second one. Overall, there was very little bullion (especially silver) at this show. This was not too much of a surprise to me since gold and silver got pounded in the last 2 days. However, while I was looking for silver art bars, I did see a few prices on the very little bullion that was there and here are some prices that I saw:
SAE's: Starting at $5 over spot from the prices that I saw.
.999 generic silver: Not much .999 generic silver at this show but the lowest price that I saw was $34.50
Silver art bars: Not many of them available and all of them were common-minted ones. The lowest price that I paid for a silver art bar was $34.00.
1/10 GAE's: $190-$200.
I also saw some 1/10 Krugerrands but I did not see a price on them. Basically that was it in terms of bullion that I saw. I did see a little bit of selling but not very much given that spot is much lower now than it was 3 days ago. After I finished looking for silver art bars, I decided to look for some gold. I was looking for 1/20th oz size gold coins but there were none to be found. Most of the other dealer tables consisted of numismatic items and non-PM related coins. Since gold and silver crashed, I suspected that most of the dealers pulled their gold and silver bullion inventory because spot gold and spot silver dropped so quickly that they did not want to sell at a loss. I do not blame them to be very honest. I do not go to many coin shows in Alabama but this was the closest coin show to me and I decided to see what I could find.
Overall for me, It was an ok day. Not great but I did buy 2 silver art bars for a cheaper price and that it what mattered to me since that is my hobby. I did meet another silver art bar collector there and we talked about silver art bars for a while. I also met a dealer that also a Collector's Universe poster and we talked for a long while since this is the first time that I met another CU poster. I will not mention the poster's name unless this person wants to post on this thread.
Even though this coin show was a long drive from where I usually go (2 1/2-hour drive), it is worth it because I like finding silver art bars and I just like that atmosphere that a coin show offers. Since I did not buy many silver art bars at this show, I did have some cash left over and that might be a good thing to keep some cash just in case my local dealers have more silver art bars that enter their shops.
DISCLAIMER: I am NOT a '70's silver art bar expert but I try my best to play one on the Internet.
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Comments
I'd 'agree' on the held back part with the bullion. My guy Friday wasn't letting anything go for anything under +$4/oz. Said he was busy selling, yes, but was taking the losses and just taking the money in for the books. Last week he wasn't selling, just buying ('cept for me), but after the plunge he said folks were coming in. No eagles or anything gov issue left other than the onzas I got and the .90 of course. Had a big batch of the libertads, might go grab some more.
<< <i>. I also met a dealer that also a Collector's Universe poster and we talked for a long while since this is the first time that I met another CU poster. I will not mention the poster's name unless this person wants to post on this thread. >>
It was good talking to you 1970silverArt. I really don't consider myself a dealer as much as I do a collector that sets up at the occasional coin show.
I did hold back on selling silver bullion but did display in my case and sell seven modern gold $5 commemoratives at current melt.
<< <i>
<< <i>. I also met a dealer that also a Collector's Universe poster and we talked for a long while since this is the first time that I met another CU poster. I will not mention the poster's name unless this person wants to post on this thread. >>
It was good talking to you 1970silverArt. I really don't consider myself a dealer as much as I do a collector that sets up at the occasional coin show.
I did hold back on selling silver bullion but did display in my case and sell seven modern gold $5 commemoratives at current melt. >>
Fivecents,
I am very happy that I met you and talked to you. It was a very good conversation.