RYK's Silver Dollar Show Report (St. Louis, MO), 10/20/2011

RYK

Today was the first day of the much anticipated, highly acclaimed (by WTCG) Silver Dollar Coin Show in St. Louis (St. Charles, actually), MO. While most people in St. Louis are largely focused on grown men trying to smack a ball around in windy and cool conditions at the stadium, I was busy preparing and visiting the crown jewel of the three annual St. Louis area coin shows. If you are hoping to read a sensational report, one with a very rosy outlook and lots of interesting buys and sells, stop reading here 'cause it ain't gonna happen.

I arrived at the show about 10:15 AM, earlier than usual, just after the show opened, and I must say that the acquisition highlight of the show came immediately when one of the Woodside ladies handed me a shiny new Vicksburg quarter. Little did I know at the time that that would be the only new coin to return home with me.

My first disappointment was that my friend, the ex-Jade partner, James Garcia was not set up at the show, and, in fact, I never saw him there. I did quickly go to Shrub68's table, as planned, and he introduced me to a coin collector-dealer who is a common friend of many of my coin friends, and we immediately hit it off. We probably could have spent a couple hours chatting and telling war stories, but we both had some things to get done and parted after about 15 mins of conversation. This was probably the real highlight of the show for me as he is someone I have wanted to meet for some time. I will give a shout out to Mike S., who lurks on the forum.

Next, I headed over to the Scotsman table and viewed the auction lots. I was especially interested in the 1856-D QE (a major Dahlonega rarity) and the 1854-D $3, both in PCGS AU-55. There was also a complete set of $3's, mostly in PCGS holders, of which I was able to pick out three that fit my collection and that I might be bidding on. The auction was loaded with gold coins but most were generic $20's (1904's and Saints) in Ratter holders with lots of upgrades and nice coins but not my style of collecting. Besides, with all of the big boys (Heritage, US Coin, NFC, Superior, etc. and the usual crack out guys that are present at all of the shows) in attendance, what are the chances that I end up with the nice coin at a fair price?

I had an excellent conversation with njcoincrank, showed him some coins, learned a few things, and we may end up having a transaction. I was to circle back and he was not there when I did. I had to hit the road, so the transaction will hopefully be consummated by mail. I also sold a so-so coin to Heritage for a fair price and left the show with more money than I came with.

On the floor, I mostly saw the same tired inventory I see at all of the shows. Numismatic Americana was an exception and had nearly all CAC coins and even one of my faves, an 1861-D in N64! Shrub68 had a small inventory of nice type coins and Morgans, Dennis King had his usual lovely display of toners, and J. Kern had three (!) stellas this time (last time, it was only two). I saw very little dirty gold and none that was of the kind that I like to buy. In general, after the first hour of the show, it seemed like an initial buzz died down, and the show was fairly empty.

Yes, there were the usual scenes like the guy going through the cull box taking up all of the display case real estate so that I could not see the slabbed gold and the vest pocket dealer showing me puttied and processed coins and quoting prices that I was not interested in hearing. The grading services were there (including ANACS) but did not seem especially busy at their tables.

I did chat with bidask and met deltadimeman. I saw WTCG from a distance, but since I knew he was short on time and big on making deals, I did not want to get in the way of his business and interrupt to say hello.

Overall, it was a sluggish, uninspiring show from my perspective. The conversations with a few folks made it worthwhile for me, as is always the case. Aside from these, I probably could have looked at everything in the room in about an hour and otherwise been out of there.

PQpeace

slowwwwwwwwwwwwwwww

jesbroken

Interesting report, RYK. Thank you for your sharing your day at the show.
Jim

Justacommeman

The show sounds like it could have used more cowbell..........MJ

Thanks you the report just the same!

Elcontador

Robert's show report, coupled with the fact that it is extremely difficult to find material that interests me at a price I deem to be reasonable is why I do not travel to shows.

Baley

How does a coin collector know he's a discriminating numismatist?

A: can't find anything to buy at a decent sized show.

Kove

<< <i>How does a coin collector know he's a discriminating numismatist?

A: can't find anything to buy at a decent sized show. >>




I'd call that a "frustrated" numismatist.

RYK

<< <i>Robert's show report, coupled with the fact that it is extremely difficult to find material that interests me at a price I deem to be reasonable is why I do not travel to shows. >>


I think that attending coin shows for me has been more about establishing contacts, reinforcing friendships, and seeing what is out there than it is about selecting coins to purchase.

That said, there is not a single coin that screamed, "Buy me!", and my ears were open and checkbook in-hand.

Edit: And going to a show like this makes me appreciate those dealers who go to shows and auctions and have contacts which end up producing coins for my collection.

kranky

Good report, RYK. I also enjoy talking to other collectors as much or more than the shopping. And I agree it's certainly a treat to spend time with njcoincrank.

AnkurJ

Its better to walk out empty handed vs buying a coin just to buy something. If you do the later, you will most likely regret it in the future.
I have been to shows like this, and franky, dont bother attending them anymore.

RYK

<< <i>Its better to walk out empty handed vs buying a coin just to buy something. If you do the later, you will most likely regret it in the future.
I have been to shows like this, and franky, dont bother attending them anymore. >>


I agree, but how do you know if it is going to be a "show like this" if you do not attend? I have purchased great coins from this show and from Scotsman auctions in the past.

Mar327

Thanks for your report - an enjoyable read. I didn't buy much at the ANA last week either, came home with money I'd have spent if something had screamed at me. But meeting and talking with people was worth more to me than anything I could've bought.

There's so much work involved in the shows, from the organizers to the dealers; so much time and expense is involved, and it's exhausting. It's a shame the economy is bad now and the hobby just isn't the same.

Elcontador

<< <i>

<< <i>Robert's show report, coupled with the fact that it is extremely difficult to find material that interests me at a price I deem to be reasonable is why I do not travel to shows. >>


I think that attending coin shows for me has been more about establishing contacts, reinforcing friendships, and seeing what is out there than it is about selecting coins to purchase.
>>



I'm fine attending local shows for the reasons you stated, Robert. But to spend money for travel and to be out of town, I need to see a tangible - in my hand - reward for doing so, or it just doesn't pencil-out for me.

curly

Thanks for the report RYK.

GeorgeKellogg

Thanks for recording your experiences at the show, RYK, for the rest of us to enjoy. I appreciate your time and effort. Don't get discouraged, just because you didn't find much of interest today.

PQpeace

Today after 5 hours of tire kickers,I boxed my coins,and showed them to dealers..1st one bought 5,then 32,then 3...so 40 wholesale coins real quick...
Sad that no retail for very nice coins..maybe tomorrow will be better,
Larry

Longacre

Good report RYK. You might have answered this already, but why is this show called the Silver Dollar Show?

291fifth

It sounds like it really is time for the return of the Bull 100 show.

... or maybe it should now be called the Bear 100.

TWQG

Good report. There does appear to be a market slowdown underway.

jmski52

I bought 4 coins today, and I saw more nice coins than I could afford. I'm just sayin'.

ricko

Thanks for the report RYK.... Is it my imagination or have the last several shows been generally reported to be slow? Seems to be a trend. Cheers, RickO

shorecoll

Probably depressed by the low PM prices. I've been using some leftover bullion to fuel coin purchases, but I'm hoping for another surge back to $40 to dump what I have left.

WTCG

<< <i>I did chat with bidask and met deltadimeman. I saw WTCG from a distance, but since I knew he was short on time and big on making deals, I did not want to get in the way of his business and interrupt to say hello.

Overall, it was a sluggish, uninspiring show from my perspective. The conversations with a few folks made it worthwhile for me, as is always the case. Aside from these, I probably could have looked at everything in the room in about an hour and otherwise been out of there. >>



I wouldn't have minded if you stopped and said hi. Except for a 20-minute period I wasn't exactly busy.

MFH

RYK - good report - now, enjoy that Vicksburg !!

Dimeman tried talking me into going out to that show,
and I passed as I just finished up at Pittsburgh [ where I
caught a cold - believe me - it ain't pretty ].

I'll be in Baltimore in two + weeks.