Australian Brick and Mortar experience and the TRS!

TireKicker

Just posted the results of the 1912-S MS62BN and the 1881-S MS65 coins, purchased from the Melbourne portion of this trip.

Just dropped by Universal Coin and I S Wright in Melbourne AU. Kevin and Charlie at Universal were great. Excellent to talk to and even took me over to I S Wright a couple blocks down across town. They also gave me a list of dealers they recommended in Sydney.

We discussed the local market as well as the US market. I brought several different PCGS holders from the first gen rattler through the current holder. The old green holders were great topics of conversation. PCGS is surprisingly large out here (In Australia) and very well respected. Each dealer had a few "Darkside" coins from the US. I S Wright had enough US coins to fill a type set album. In addition, they had a solid collection of Morgan Dollars and Commemoratives. Universal had a few US coins, many antique toys and great conversation.

I brought a few 1943 pennies in MS66 along with some other PCGS items to trade. Ended up trading a couple of the PCGS 43's for an uncirculated 1881-S Morgan along with a 12-S and 24-S Lincoln.

Could not have asked for a better experience and hope the trading as well as the conversation in Sydney AU is just as interesting!

For those who think these threads are useless without pictures...here is a bad cell phone picture of the coins that are coming back to the US.

Nap

I've bought coins from IS Wrght's auction "Status International" and also from Downies in Melbourne. Good experiences with both. Right now the USD to AUD is quite favorable. Never been to Australia.

TireKicker

A few asked about my experience down under so I thought I would dig up this thread. To answer a couple additional questions:

How were prices?

They were all over, some were very high while others were quite reasonable (just had to look for the reasonable...kind of like a us coin show). Everything acquired in Melbourne was on trade. Most collectors and dealers were interested in steel cents (had a few in MS66 and they were very popular).

What was it like down under?

What was most impressive was the number of coin shops that were supported in such a small area. In downtown Sydney, about a 1/4 mile away from the bridge and opera house, one was in walking distance of 9 coin shops (all within a square mile) many were bullion first dealers but all had numismatics of some kind as well. I was able to hit 7 in one afternoon.

These shops were everything from little hole in the wall joints at a bazaar type environment of about 50-75 sq feet to full size bullion/numismatic shops of about 1000 sq feet on a street corner with great visibility.

Most had at least a few "dark side" US Coins. This was definitely about the hunt.

Many US coins are sold via auction down under and unfortunately, usually at the end of the month or at the end of a quarter. Since it was the beginning of April, I heard: "Too bad you weren't in here a couple weeks ago, Mate" on several occasions.

Everyone was nice and willing to talk shop, no pretentiousness, just a great laid back friendly attitude from everyone. It was a great experience. In fact, in Melbourne, Kevin or Charlie (can't remember which) from Universal, walked me down to IS Wright about 5 blocks away (of course we talked shop all the way down). He then introduced me there. He stayed for a few minutes and we continued our numismatic conversation with the IS Wright manager, obviously something that would be slightly out of the ordinary here in the USA.

As for Sydney on the latter half of the trip, that was a different story. After going to 6 shops and unable to find anything, I went to one last shop, before heading back to the hotel. I had been told by many dealers within that square mile that this last place was mostly a bullion shop and would most likely have very little. So expectations were low at establishment number 7.

Those expectations were immediately validated. "We deal mostly in bullion Mate, what specifically are you looking for?" I explained that my failing eyesight was making the US Morgan series look very attractive. He excused himself and went to look in the vault. He came back out, pulled up his computer, typed in a house sku number, said he only had one item and he would show it to me if I was interested. The coin he pulled up on the computer screen initially was an 1885-S Morgan in Mint State condition. The description in the computer said MS64. But one thing I learned in Australia is: many coins are ungraded by 3rd parties. Many in the land down under are still of the opinion that a 3rd party grader is not needed (but many really are impressed and use the PCGS service from 5,000 plus miles away). It reminds me of where the US was a couple decades ago. When some were resisting but others saw it as tremendous opportunity....sorry l'm digressing.

Anyway, was happy to take a closer look at the coin. When he brought it out, not only was it in a PCGS holder, it was a first gen rattler holder with nice original toning on the front.

Thought it would be a nice coin to add to my collection if it was not too expensive, really wanted a coin from Sydney as a reminder of a great vacation. Unfortunately pictures do not do this coin justice (sure somebody's pictures would, but not these).

Once this coin was flipped over...it was no longer if this coin was coming back to the US it was for how much. The reverse was nicer than the obverse with incredible toning.

A fair price was reached that was equitable to both sides. In addition, the Australian Government has something called the Tourist Refund Scheme (although it sounds a little shady it is perfectly above board):

Tourist Refund Scheme

With the assistance of the friendly staff, all of the correct paperwork was in hand. Once at the airport 10% of the purchase was refunded by the Australian Government, all perfectly legal!

Looking forward to returning again soon a great place to visit and find "dark side" American treasures!

ricko

Great thread.... interesting coin shopping in other countries... I have done several (not Australia) since I lived and worked in other countries. Also traveled to several more on business or pleasure. Cheers, RickO

asheland

Very nice pick up! Great report.

Cameonut

I went to Oz three times on business during the '90s - I enjoyed the country and the people, but especially liked the beer (VB was my favorite). Mostly Melbourne but also Sydney.

Never shopped for coins but did shop for black opals - the TRS was a big bonus in addition to the favorable exchange rate.

If I ever to back (man, those flights are lllooonnnnggg) I will have to check the local shops out.

shorecoll

The only place in the world I really want to go, but I have major back issues, and don't want to pay the 1st class ticket.

TwoSides2aCoin

My logo is a joey .... No spam intended.