Coin Show Report - Parsippany, NJ

DaveG

Today I went to the first-Sunday-of-the-month, 80+ dealer show in Parsippany, NJ. Normally this show is regarded as the best one-day show in the country, with a wide variety of dealers and coins and very busy bourse floor.

Today, however, the mood at the show was pretty downbeat. There were a few empty tables and the dealers who are normally in a second room were out in the hall (and there were fewer of them). The bourse floor, while not exactly empty, seemed to be much less crowded. There was no "buzz" in the room and I didn't get the sense that there was a lot of business being done.

I spoke to several dealers, who all commented on the state of the bullion market, which they agreed led to the quieter coin market. In addition, they seemed to be showing signs of "coin show fatigue" as they all commented on how "bad" the Philly show was - "too many shows" was their common lament. I asked Tom Hyland how things were going and he said "slow."

I took a few quick turns around the floor, but didn't really see anything that interesting. The only coin that stands out in my mind was an 1859-O Seated Quarter in an old ANACS (small white slab) XF-45 holder that board member SeaEagleCoins had. Now, I don't actually collect Seated quarters and I prefer my seated coins to be pre-1851 in any event, but this was a nice looking dark gray coin.

I think I'm just getting pickier and pickier: I want my coins to be really nice and also uncommon - that's a tough combination in this market!

atarian

I finally got up somewhat early enough for the show this month.

Arrived around 1245pm. Few dealers were gone but some nice coins were still available . Not too much buying was going on from what the dealers I spoke to. Silver trading between 18 and 20 with one dealer paying 21.5x face. For my collection I picked up a nice group of Clipped coinage. Mostly lincolns with a nice roose clipped. A few nice grease filled coins. and a handful of odd planchet issue coins. Got some supplies for the collections. and got a 2000 WAM cent. Not expensive but as an ice breaker. I hope to try for next month and get in earlier than 1245.

halfcentman

Darn, that would have been a good show for me to go to!

I know this may be a bit off-color, but coin shows tend to be like legalized in-breeding. We all get older, fatter, balder, and we see the same people until someone dies or loses their faculties. When you do this week after week, it can get very stale.

Speaking of stale, the other problem is the dealer's stocks. Most dealers are unrealistic as to what they want for their stuff - especially the tired and/or run-of-the-mill items. When I see dealers every month, there is nothing worse than seeing an inventory with mold growing on it. If I want to see a relic, I will go to a museum. There are about five, non-bullion dealers at this show who understand the concept of this. One of them is Tom Hyland, and the other is Larry Greenstone (aka SeaEagle on the board). Their tables tend to be mobbed most of the day. That's because they churn stuff in and out - even if there is a small loss involved AND they are not afraid to pay market value for in-demand items which their retail clientele covets.

Very good friends or not, they're class guys.

THE FOLLOWING HAS BEEN AN UNPAID ENDORSEMENT!

AnkurJ

I attended the show after a car show I went to. I arrived around 11am and it was still pretty crowded. Silver and gold bullion was very scarce at the show. Most dealers wanted to hold. I didnt see a single silver bar on the floor. I ran into board members RLD14, Kiushu, Seaeaglecoins and Joebb21.

I did find a nice 1837 bust half for my collection from Larry aka Seaeagle coins, and a 5oz George T Morgan pattern silver. Both were reasonably priced. Will post pics of both of them later today. Overall nice coins were hard to find, but thats nothing new.

AJ

RYK

Will post pics...

Thanks for the warning.

Dave, thanks for the report. Good information.

DaveG

ttt for the weekday crowd.