Mexico City Show Report - March 2013
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I just returned from Mexico City and the 56th International Numismatic Convention held there from 6-9 March. Here is my brief report.
The show had about 30 tabled dealers from all over Mexico including the Casa de Moneda de Mexico (the Mexican Mint) and the Banco de Mexico (the Mexican Central Bank which acts like both the Federal Reserve and the Bureau of Engraving and Printing in the US). The only US-based dealers this time were Paul Brombal, Mark Clark, and myself. There was a Cuban dealer or two but no one from South America or Spain this show.
Being that the September 2012 show was such a blockbuster (one old-time dealer called it the best he has had since the 1980s), this show had a tough challenge to meet.
Overall, the show was decent. Most dealers reported a good show. Most of the serious buyers and specialists were there and active. There wasn't a whole lot of public in attendance, but many of those that came were buyers or sellers, so business was done. I noticed a couple of very old-timers that did not show up. Clyde Hubbard at age 96 was there buying, selling, and schmoozing!
I shared a table and sold over half of what I brought. Most of my items were inexpensive world (non-Mexican) coins which were popular with novices. For this show, I chose not to put out my average Mexican material, and to hold it until September. My better Mexican material mostly did not sell unless it was priced very aggressively (i.e. below market).
I brought one Mexican pattern to sell and while it generated some interest, there was no one ready to step up and put their money down for it.
On the buying side, I found a few good coins to buy, mostly from dealers away from the City. I bought a scarce 1974 Mo 10 Peso proof (PCGS pop 0, NGC pop 2, both in 64) and a cool modern silver medal from a Guadalajara dealer and a scarce 1875 DoH 50c from a Tijuana dealer. I also bought a nicely-toned UNC 1850 Go silver cuartilla from a dealer friend which should grade at least 63 if PCGS understands the condition of the reverse die (corroded, rusty, and very granular).
It wouldn't be a good show unless I found a pattern to buy, and I did. I bought an UNC (possibly UNC details) 1838 Mo pattern cuartilla in brass from a Mexico City collector/dealer. These are rare, but the most "common" of this series (the others being extraordinarily rare).
A Mexico City dealer (and my table-mate) was selling a hoard of RED 5c & 20c from the 1960s-70s as well as a few random pieces from earlier. I bought a beautiful 1943 1c from him that will no doubt grade 66RD. Not rare nor even scarce, but a better date in uncommon condition.
There were two auctions, one on Thursday and another on Friday. The Thursday auction was the second auction held by the excellent new firm of LCSN. They had 500 lots with a wide variety of great material, slabbed and raw, pedigreed and not, and I could have easily spent a great deal of money. Due to other commitments, I refrained, but it wasn't easy. I have no comment on the Friday auction except to say that the auctioneer must not have been very seriously trying to sell coins given the lack of notice, scarcity of catalogs, and the very high opening bids.
The next show will be in September and I look forward to any forum members who will attend. I will have my own table.
The show had about 30 tabled dealers from all over Mexico including the Casa de Moneda de Mexico (the Mexican Mint) and the Banco de Mexico (the Mexican Central Bank which acts like both the Federal Reserve and the Bureau of Engraving and Printing in the US). The only US-based dealers this time were Paul Brombal, Mark Clark, and myself. There was a Cuban dealer or two but no one from South America or Spain this show.
Being that the September 2012 show was such a blockbuster (one old-time dealer called it the best he has had since the 1980s), this show had a tough challenge to meet.
Overall, the show was decent. Most dealers reported a good show. Most of the serious buyers and specialists were there and active. There wasn't a whole lot of public in attendance, but many of those that came were buyers or sellers, so business was done. I noticed a couple of very old-timers that did not show up. Clyde Hubbard at age 96 was there buying, selling, and schmoozing!
I shared a table and sold over half of what I brought. Most of my items were inexpensive world (non-Mexican) coins which were popular with novices. For this show, I chose not to put out my average Mexican material, and to hold it until September. My better Mexican material mostly did not sell unless it was priced very aggressively (i.e. below market).
I brought one Mexican pattern to sell and while it generated some interest, there was no one ready to step up and put their money down for it.
On the buying side, I found a few good coins to buy, mostly from dealers away from the City. I bought a scarce 1974 Mo 10 Peso proof (PCGS pop 0, NGC pop 2, both in 64) and a cool modern silver medal from a Guadalajara dealer and a scarce 1875 DoH 50c from a Tijuana dealer. I also bought a nicely-toned UNC 1850 Go silver cuartilla from a dealer friend which should grade at least 63 if PCGS understands the condition of the reverse die (corroded, rusty, and very granular).
It wouldn't be a good show unless I found a pattern to buy, and I did. I bought an UNC (possibly UNC details) 1838 Mo pattern cuartilla in brass from a Mexico City collector/dealer. These are rare, but the most "common" of this series (the others being extraordinarily rare).
A Mexico City dealer (and my table-mate) was selling a hoard of RED 5c & 20c from the 1960s-70s as well as a few random pieces from earlier. I bought a beautiful 1943 1c from him that will no doubt grade 66RD. Not rare nor even scarce, but a better date in uncommon condition.
There were two auctions, one on Thursday and another on Friday. The Thursday auction was the second auction held by the excellent new firm of LCSN. They had 500 lots with a wide variety of great material, slabbed and raw, pedigreed and not, and I could have easily spent a great deal of money. Due to other commitments, I refrained, but it wasn't easy. I have no comment on the Friday auction except to say that the auctioneer must not have been very seriously trying to sell coins given the lack of notice, scarcity of catalogs, and the very high opening bids.
The next show will be in September and I look forward to any forum members who will attend. I will have my own table.
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Who are LCSA?
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>Who are LCSA? >>
Sorry, I made a mistake. It is LCSN, La Compañía de Subastas Numismáticas, run by collector/dealer Angel Smith of Reynosa, Tamaulipas just across the border from McAllen, Texas.
At first I was surprised that no SA dealers showed, but I figured, they're even farther away than US dealers and only three showed. I personally would love to attend this convention. I've been wanting to go for years but I just haven't found a way to swing it. There always seems to be something conflicting. September is definitely out. Perhaps in 2014
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