Parsippany show report
njcoincrank
Posts: 1,066 ✭✭
I've been looking for someone else's show report, but have yet to see one.
Anyone? Anyone?
Bueller? Bueller?
njcc
Anyone? Anyone?
Bueller? Bueller?
njcc
www.numismaticamericana.com
0
Comments
Two interesting items.
First, our old forum buddy Ankur was there liquidating our other old forum buddy QuarterCollectors inventory. Nice stuff, but priced too retailish for me to pick up for inventory.
Lots of dealers looking forward to FUN, but also others just seemed to be sitting on stale inventory wondering what to do next.
merse
<< <i>It seemed quiet to me. Very little new material. I only bought from two dealers, and one was only two coins (Bergen Coin). I faired better with Vince at Fairchester and picked up a small fistful of interesting stuff, but nothing really noteworthy. I was gone by about 10.
Two interesting items.
First, our old forum buddy Ankur was there liquidating our other old forum buddy QuarterCollectors inventory. Nice stuff, but priced too retailish for me to pick up for inventory. Lots of dealers looking forward to FUN, but also others just seemed to be sitting on stale inventory wondering what to do next. >>
They could lower their prices.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>
<< <i>It seemed quiet to me. Very little new material. I only bought from two dealers, and one was only two coins (Bergen Coin). I faired better with Vince at Fairchester and picked up a small fistful of interesting stuff, but nothing really noteworthy. I was gone by about 10.
Two interesting items.
First, our old forum buddy Ankur was there liquidating our other old forum buddy QuarterCollectors inventory. Nice stuff, but priced too retailish for me to pick up for inventory.
Lots of dealers looking forward to FUN, but also others just seemed to be sitting on stale inventory wondering what to do next. >>
They could lower their prices. >>
More of a problem of not being able to buy new material. If dealers on the local circuit sold off all of their stale inventory, their cases would be empty. By 'wondering what to do next', I mean some folks are wondering about the future of working as coin dealers - if it is worth setting up at local shows, etc.
merse
They could lower their prices. >>
More of a problem of not being able to buy new material. If dealers on the local circuit sold off all of their stale inventory, their cases would be empty.
Fine. In that case, they should lower their sell prices on stale material and raise their buy prices on fresh material. it's not rocket science.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>Lots of dealers looking forward to FUN, but also others just seemed to be sitting on stale inventory wondering what to do next. >>
They could lower their prices. >>
More of a problem of not being able to buy new material. If dealers on the local circuit sold off all of their stale inventory, their cases would be empty.
Fine. In that case, they should lower their sell prices on stale material and raise their buy prices on fresh material. it's not rocket science. >>
It is just a show report. I thought it interesting that more than one dealer (both of whom I have been doing a lot of business with for years) at a generally successful show made a comment about not making money by doing it, and contemplating stopping local shows. Rocket science or not, I thought it worth posting the opinion of some of the dealers at the show.
merse
EAC 6024
I agree with abitofthisabitofthat that the show seemed a little quiet to me today. Perhaps it was the usual January quiet period (following the busy December show - and the cancelled November show). Don't get me wrong, though, attendance was good - it was hard to get down the aisles for much of the morning. I thought the show lacked "buzz". In general, I thought that dealer inventories were either smaller than usual or less interesting than usual.
I talked to several dealers who were looking forward to either FUN or the New York International.
Several comments from the past were repeated - bullion was much more active than collector coins, coins above $500 were hard to sell, etc.
AnkurJ had some interesting inventory - several doilies (four or more, I think). He does need to invest in a lamp or two for his table, though.
edited to add: By the way, AnkurJ is reporting ATS that he saw all three CAC graders at the show today. (I, myself, only saw two.) Clearly, Parsippany is the place to be!
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Same old stinky people bumping into me... But I didnt get hassled by the "GOT ANYTHING TO SELL????" guy... so thats a plus.
A few tables were empty, mostly in the middle row and the other little room.
There were a lot of people roaming around asking for silver, but not many dealers had any for sale at the price they were looking to pay. Gee I wonder why...?? lol
When walking around many dealers have the same coins in the same place in the cases as last month, the month before that, month before that......Maybe they just leave the cases at the show month by month...at least the general stock suggests that!
I took a shower this morning first and wore clean clothes!!!
I also attended Parsippany this morning.
I watched football and slept part of the afternoon afterwards.
Indeed, I saw two of the three CAC graders at the show.
The show was moderate in activity. It was NOT a ghost town. Some dealers were quite busy others less so. Some dealers leaving today and others tomorrow for the FUN show.
Being that silver and gold prices are down a bit, there were more people looking to buy than sell pm's. But gold and silver inventories were pretty thin.
For myself, I bought one doily 1883-O MS-63 $1 gold stickered from Ankur and another doily 1887 MS-65 $1 non stickered (so far),
Dealer inventory otherwise seems to be the usual same stuff.
1. CAC definitely had a strong presence.
2. I almost never end up buying anything but I was tempted by an Elgin in an MS65 rattler holder for $200. Couldn't see the obverse very well because the slab was so marked up. Still had buyer's regret. I've always wanted an Elgin although I never seem to find one I like.
3. There was a dealer in the small room in December that had some nice inventory. He was not back this month (too bad).
4. People that go to Parsippany with high expectations will likely be disappointed. Crowded aisles and a good amount of recycled and stale inventory. But I always enjoy it. At a minimum, there is always activity and some very sharp coin people around. Many regional shows I have attended, you could hear the crickets chirping -- that's not Parsippany. Anyway, this month, aisles were slightly less crowded, buzz seemed somewhat muted and there were definitely some dealers missing.
5. Man, I like coin shows and wish I was going to FUN....
"Look up, old boy, and see what you get." -William Bonney.
I would think that dealers would love to be able to dump their stale inventory at cost and start fresh. There should be no problem buying worthwhile new material in this market.
Take a trip to FUN to dump the stale stuff and find new stuff. I wholeheartedly agree that the market of the past 4 years has caused many local show dealers to reasses setting up.
At the Auburn, MA I've witnessed a large turnover in the past 4 years....probably 30-50%. I've discussed this issue with a number of dealers who no longer take tables because it
is just not cost effective. One also has to consider that in today's more risky environment, there is a cost to setting up and making oneself a mark to local thieves. At local shows in
my area I'm aware of 2 dealers that got hit for hundreds of thousands of dollars. I set up at the Auburn show from 2002-2009 and finally tossed in the towel as well. Having an empty
case and lots of cash to speculate is a good position to be in. Having cases full of stale inventory and little cash to buy stuff is not the way to go. Less cases and more cash is a better
way to handle a bear market. A lot of that stale inventory would probably have to be sold at losses, something many dealers just won't do.
It is interesting. It shows that there's not much easy money to be made (honestly) these days, and that's because the market is not moving higher every month. In markets like that, you can expect some dealers to throw in the towel. Of course, most dealers manage to turn a profit, even if it's not easy.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.