Thursday at Long Beach

Elcontador · June 9, 2016 12:48PM

I went to primarily catch up with a few people. One of my favorite coin people was in town, and I wanted to say hello to my favorite dealer who has helped me out a great deal over the years.

I was done walking the floor in three hours. The Brasilian lady dealing in foreign currency wasn't there; we always weird people out who are around when they hear us speaking Portuguese with one another.

I found one Liberty Nickel I really liked. The coin was all there for the grade and a better date, but I passed on it because I don't think an expensive Liberty Nickel provides good value in this market. Others I saw in MS 66 were either nothing special for the grade, or I already had the dates.

Eye Appealing Coins and Dick Osburn both had runs of AU Capped Bust Halves, and Sheridan Downey had a nice run of the series in slightly better grades. I saw lots of Unc. SLQs in various grades. There were plenty of Barber Coinage below supergrade. More currency dealers this time around.

As usual, there was plenty of gold, and it seemed like most Unc. Morgan and Peace Dollars ever minted available for sale.

The vibe was busy. Lots of buying and selling. Even if I'm not particularly interested in buying anything, a show like this is an excellent opportunity to look at coins. Saw an 1807 Draped Bust Half in an NGC MS 65 Holder. You can also get a feel for how various coins are being graded at present, which I find to be valuable. You really need to actually see the coin and know how they are being graded at present before making what for you, is a major purchase.

Hannigan Rare Coins had a handful of 1793 and 1794 Cents on display, in addition to an interesting consignment coin, an 1857 1/2 Cent in PC 4 RD in a 1st generation holder. It looked pretty clean, but may not have gotten into a 5 holder in its day because the luster, though RD, was a bit mellowed, not brilliant orange like most 5 RDs I've seen. There are so few of these holders around, perhaps the seller thinks the premium of the holder makes it more valuable than the coin in a PC 5 holder. Didn't ask the price, because I wasn't buying.

I want to again thank our hosts for making Coin Facts free. Picture an even more complete version of Heritage Archives at your fingertips.

I sold an in expensive coin I bought a number of years ago at a loss. Lesson - Don't buy a coin just to make the magic number not to pay any sales tax on the transaction. If you really like a coin (like I did its companion coin), buy it and pay the sales tax.

I also sent a coin in for review / upgrade so in a worst case scenario, it stays in the old holder and I'm out $30. I had it graded in 2004, and it's flashy and nice for the grade.

It's worth 3-4X in a + holder versus a straight graded holder. We'll see.

Feel free to send a PM if you have any additional questions.

TopographicOceans · June 9, 2016 1:31PM

Thanks for the report

BIGAL2749 · June 9, 2016 1:38PM

It's always nice to get to a major show, lets you get a feel for that part of the market.

Justacommeman · June 9, 2016 1:39PM

Thank for for the fun read!

mark

AUandAG · June 9, 2016 1:43PM

I was right behind you all day........

at least while reading this!

thanks,

bob

Zoins · June 9, 2016 1:45PM

Nice report! Thanks for the observations!

kaz · June 9, 2016 1:50PM

Enjoyed the report, thanks for taking the time to write it!

Walkerfan · June 9, 2016 2:02PM

Thanks for sharing your thoughts.

I enjoyed the report.

ElmerFusterpuck · June 9, 2016 2:16PM

Cool report, thanks! I hope to make a June Long Beach show one year, I usually hit the September one and have done the winter show once. Always a fun venue for me.

Moldnut · June 9, 2016 2:23PM

Interesting comment about not wanting to pay big money on a certain series in the current market. That could be a great thread on its own. What other series are buyers unwilling to pay up on now, Hmmm.