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Philly ANA Show Report (Short Version; It Was Great)
TomB
Posts: 22,964 ✭✭✭✭✭
By now there are likely to be a steady stream of show reports for the Philly ANA. My report is here and includes the experience of my four days at the show in Philadelphia as well as some non-show information. I have read in some other reviews that this ANA seemed smaller than the 2000 Philly ANA and that some had heard dealers mention that they had not had a great show. I had also attended the 2000 Philly ANA, but did not attempt to make many mental notes in order to compare the show a dozen years later. However, I can state that I thought the 2000 show had more floor traffic and that it felt a little larger. This could be accurate, might be due to a distortion in memory or could have been influenced by the fact that this year I left the show on Friday whereas in 2000 I was also in attendance on Saturday, which is a great day for public traffic. What I can state definitively is that I had a wonderful time on the bourse and a great buy-sell show. In fact, this Philly ANA was likely the best show I have ever had for buy-sell on the bourse.
I stayed at the Hilton Garden Inn adjacent to the Convention Center and when I arrived I missed the left turn for the Arch St. entry into the parking garage. Arch St. is a one-way street and just passed the missed entry was a parking spot against the curb in front of the market. The spot looked awfully tight, the street was fairly busy with car traffic and all around were pedestrians. To add to the degree of difficulty, the car that would be behind my car against the curb had a driver sitting in it and a pedestrian talking to the driver from the sidewalk. Lastly, this would be a parallel park on the left side, not the right side, since I was on a one-way street. The great majority of times I would have no doubt kept driving, but this time I decided to make an attempt to snag the spot. I put the car in reverse, hoped I wouldn’t kill anyone, pulled quickly into the opening while spinning the wheel, moved up slightly and then pulled pack just a tad. Stunningly, my car was about two inches from the curb and two inches from both the car in front of me and the car behind me and this was accomplished quickly and with few turns. My satisfaction melted away and turned into alarm when billowing white smoke started to waft at me from under my hood. Relief set in when I realized it was only an enormous, lit cigar that I ran over while parking that was now smoldering and flattened on the road. WHEW! Not only was the car okay, but I avoided public ridicule from a failed attempt to parallel park on a congested street.
Dealer registration was painless enough, but when I entered the bourse and dropped my bag behind the table I had two folks ask to see my badge. They were looking to see if everything was spelled correctly because in both instances their company name had been spelled without the second “m” in numismatics, if I recall correctly. Mine was spelled correctly, but I had also taken the time to spell out the name to the person who did the registration. It seemed odd to spell out “numismatics” to someone at an ANA dealer registration table, but it came naturally from dealing with the general public. Perhaps that helped.
I brought with me several coins that had been consigned shortly before the show from PCGS/NGC board members as well as my entire online inventory. Within an hour seven terrific type coins were sold to other dealers at the prices that I had them marked on my website; this was a harbinger of my experience throughout the week. Time and again I was selling coins that had been listed on my site and was selling them at my price levels to other dealers. The common refrain was that truly attractive, accurately graded type coinage was mighty tough to find and this is what I noticed, too, as I walked the floor in an effort to replenish my inventory. As the show wore on my inventory was being ground down and even the coins purchased at the show were being sold to other dealers. Interestingly, only one coin from my inventory was sold to a collector during the entire show. Thankfully, I kept putting pieces away specifically with my site or my clients in mind and did not let them see the light of the bourse after they were obtained. If not for that, I don’t know what would have happened.
Also during the show, Dick Graham gave a presentation to the JRCS/BHNC meeting and he spoke about the new Reeded Edge half dollar book that I had helped him produce. The book is finally in print and available. There were twenty-five copies that I had behind the table Wednesday afternoon and by the time I left on Friday only five remained unsold! What I found especially interesting is that I sold only two of those copies to collectors while all the others went to dealers. The book wasn’t actively advertised at the table other than to have a single copy sitting inside a case, but some folks had asked for a heads-up when it was available and others heard by word of mouth. The reaction from dealers vs. collectors was also interesting and may have had something to do with the fact that Dick may have sold books or taken orders at the JRCS/BHNC meeting that was held during bourse hours. The typical dealer who flipped through the book said it seemed like a bargain while the typical collector who flipped through the book said it looked cool and he would think about it; the dealer would then buy the book immediately while the collector would then walk away without a copy. Again, I thought this was interesting enough to mention, but it may very well have been because the pool of folks looking at the book was affected by previous orders or sales at the collector-dominated meeting.
There was also an instance that occurred that has never happened to me at any prior show. On my site had been an extremely attractive and difficult Seated Liberty half dollar. It was a great coin, but was also relatively expensive for something on my site (approximately five-figures) and obviously that price range is someplace that can make it tough to sell a large quantity of coins. At the late June Baltimore show I had someone come up to the table, examine the coin, fall in love with the coin and ask for my contact information. He called in early July and we spoke for a bit on the phone about the coin and then called again later in July and we spoke further. He was very interested, but didn’t pull the trigger, which of course is perfectly fine. Early Wednesday at this show I saw him on the bourse and he told me he wanted to talk to me about the coin, but would catch up to me later in the day. That day I didn’t see him again and he didn’t come by on Thursday while I was around, either. Late Thursday I was carrying coins with me and passed the table of two very successful and well known dealers. I asked if they wanted to see a few coins. They both looked exhausted and this shouldn’t be too much of a surprise given it was nearly time for the bourse to close for the day, we were several days into the ANA show, directly on the heels of the pre-ANA show, both in conjunction with large auctions and everyone has spent all these days on unpadded, hard concrete floors, which can really bother your back, neck and legs. One of the dealers politely and subtly shook me off with a small wave of the hand while the other stared straight ahead and, in a glazed-eye manner, stated that only truly rare or interesting coins would be entertained. I reached into my bag, pulled out three coins and placed them on the glass. Both dealers sat up alert and started to examine the coins. The second dealer then politely asked me to sit and asked if they might see the rest of the coins I had with me. They looked and pulled out a number of coins. One coin was the much better date Seated Liberty half dollar. I quoted a price, the dealer agreed and shortly afterward I had a handshake and a check. As I was getting up the dealers then said to me to please come back whenever I get new coins as they would always be happy to see things that I carry. I turned and, without even completing the turn, the person who had been so interested in the Seated Liberty half dollar was only a few feet away and approaching with a big smile on his face. Out of his mouth came the words “Do you still have the half? I’ll buy it…” to which I had to cut him off to tell him I sold the coin mere seconds before. He asked when and where and I told him. He looked crushed and then said to me that it was his fault since he knew he wanted it and didn’t tell me sooner during the show. We shook hands and I felt badly for him, but also thought to myself that I would gladly deal with him again because he was really quite easy to work with and a pleasant person.
Some observations about the show-
*The aisles were wide, easily navigated and sparsely populated with the buying public.
*Rare Coins of New Hampshire (Warren Mills) had an absolutely incredible Seated Liberty dollar in a PCGS MS64+ holder that has wonderful, original skin and color. If I could have afforded the coin it would be with me now. Alas…
*Angel Dee’s (Andy and Alynne Skrabalak) had a killer Buffalo nickel set on display and I believe it was complete (or near complete) and for sale. The coins were amazing.
*Several dealers said they had great shows for selling, but tough shows for buying.
*The relative stability in the price of gold made some feel quite happy and a few folks said they thought this stability was helping the sales of non-gold collector coins.
*There were quite a few attractive, original classic commems in dealer’s cases, but of course not so many of the killer toned pieces that take one’s breath, and wallet, away.
*I don’t necessarily subscribe to the idea of sleeper series, but those classic commems with a great look seem quite tempting at these price levels, though I have thought that off and on since at least 1994.
*More attractive, circulated Seated Liberty dollars were on the floor than I can recall from other shows.
*Similarly, VF/EF Barber and Seated Liberty dimes were popping up more, too.
*The exhibits were extensive, but I don’t think there were more than a handful of attendees looking at them during the entire show.
*There is a “no business allowed” rest area in the back of the bourse that might be useful when one is tired from the concrete flooring.
I write this often, but it is the people that one gets to know in the business that make it that much more interesting or enjoyable. This includes those collectors who stop by to say hello or who keep in touch online and is especially true for the pool of dealers who it seems I do business with over, and over, and over again, month-to-month and in city after city. I won’t list them individually because any such list will of course inadvertently leave off some folks, but will take the time to give a special thanks to those at Numismatic Americana, or however it is spelled on the ANA dealer badge
for the help.
I stayed at the Hilton Garden Inn adjacent to the Convention Center and when I arrived I missed the left turn for the Arch St. entry into the parking garage. Arch St. is a one-way street and just passed the missed entry was a parking spot against the curb in front of the market. The spot looked awfully tight, the street was fairly busy with car traffic and all around were pedestrians. To add to the degree of difficulty, the car that would be behind my car against the curb had a driver sitting in it and a pedestrian talking to the driver from the sidewalk. Lastly, this would be a parallel park on the left side, not the right side, since I was on a one-way street. The great majority of times I would have no doubt kept driving, but this time I decided to make an attempt to snag the spot. I put the car in reverse, hoped I wouldn’t kill anyone, pulled quickly into the opening while spinning the wheel, moved up slightly and then pulled pack just a tad. Stunningly, my car was about two inches from the curb and two inches from both the car in front of me and the car behind me and this was accomplished quickly and with few turns. My satisfaction melted away and turned into alarm when billowing white smoke started to waft at me from under my hood. Relief set in when I realized it was only an enormous, lit cigar that I ran over while parking that was now smoldering and flattened on the road. WHEW! Not only was the car okay, but I avoided public ridicule from a failed attempt to parallel park on a congested street.
Dealer registration was painless enough, but when I entered the bourse and dropped my bag behind the table I had two folks ask to see my badge. They were looking to see if everything was spelled correctly because in both instances their company name had been spelled without the second “m” in numismatics, if I recall correctly. Mine was spelled correctly, but I had also taken the time to spell out the name to the person who did the registration. It seemed odd to spell out “numismatics” to someone at an ANA dealer registration table, but it came naturally from dealing with the general public. Perhaps that helped.
I brought with me several coins that had been consigned shortly before the show from PCGS/NGC board members as well as my entire online inventory. Within an hour seven terrific type coins were sold to other dealers at the prices that I had them marked on my website; this was a harbinger of my experience throughout the week. Time and again I was selling coins that had been listed on my site and was selling them at my price levels to other dealers. The common refrain was that truly attractive, accurately graded type coinage was mighty tough to find and this is what I noticed, too, as I walked the floor in an effort to replenish my inventory. As the show wore on my inventory was being ground down and even the coins purchased at the show were being sold to other dealers. Interestingly, only one coin from my inventory was sold to a collector during the entire show. Thankfully, I kept putting pieces away specifically with my site or my clients in mind and did not let them see the light of the bourse after they were obtained. If not for that, I don’t know what would have happened.
Also during the show, Dick Graham gave a presentation to the JRCS/BHNC meeting and he spoke about the new Reeded Edge half dollar book that I had helped him produce. The book is finally in print and available. There were twenty-five copies that I had behind the table Wednesday afternoon and by the time I left on Friday only five remained unsold! What I found especially interesting is that I sold only two of those copies to collectors while all the others went to dealers. The book wasn’t actively advertised at the table other than to have a single copy sitting inside a case, but some folks had asked for a heads-up when it was available and others heard by word of mouth. The reaction from dealers vs. collectors was also interesting and may have had something to do with the fact that Dick may have sold books or taken orders at the JRCS/BHNC meeting that was held during bourse hours. The typical dealer who flipped through the book said it seemed like a bargain while the typical collector who flipped through the book said it looked cool and he would think about it; the dealer would then buy the book immediately while the collector would then walk away without a copy. Again, I thought this was interesting enough to mention, but it may very well have been because the pool of folks looking at the book was affected by previous orders or sales at the collector-dominated meeting.
There was also an instance that occurred that has never happened to me at any prior show. On my site had been an extremely attractive and difficult Seated Liberty half dollar. It was a great coin, but was also relatively expensive for something on my site (approximately five-figures) and obviously that price range is someplace that can make it tough to sell a large quantity of coins. At the late June Baltimore show I had someone come up to the table, examine the coin, fall in love with the coin and ask for my contact information. He called in early July and we spoke for a bit on the phone about the coin and then called again later in July and we spoke further. He was very interested, but didn’t pull the trigger, which of course is perfectly fine. Early Wednesday at this show I saw him on the bourse and he told me he wanted to talk to me about the coin, but would catch up to me later in the day. That day I didn’t see him again and he didn’t come by on Thursday while I was around, either. Late Thursday I was carrying coins with me and passed the table of two very successful and well known dealers. I asked if they wanted to see a few coins. They both looked exhausted and this shouldn’t be too much of a surprise given it was nearly time for the bourse to close for the day, we were several days into the ANA show, directly on the heels of the pre-ANA show, both in conjunction with large auctions and everyone has spent all these days on unpadded, hard concrete floors, which can really bother your back, neck and legs. One of the dealers politely and subtly shook me off with a small wave of the hand while the other stared straight ahead and, in a glazed-eye manner, stated that only truly rare or interesting coins would be entertained. I reached into my bag, pulled out three coins and placed them on the glass. Both dealers sat up alert and started to examine the coins. The second dealer then politely asked me to sit and asked if they might see the rest of the coins I had with me. They looked and pulled out a number of coins. One coin was the much better date Seated Liberty half dollar. I quoted a price, the dealer agreed and shortly afterward I had a handshake and a check. As I was getting up the dealers then said to me to please come back whenever I get new coins as they would always be happy to see things that I carry. I turned and, without even completing the turn, the person who had been so interested in the Seated Liberty half dollar was only a few feet away and approaching with a big smile on his face. Out of his mouth came the words “Do you still have the half? I’ll buy it…” to which I had to cut him off to tell him I sold the coin mere seconds before. He asked when and where and I told him. He looked crushed and then said to me that it was his fault since he knew he wanted it and didn’t tell me sooner during the show. We shook hands and I felt badly for him, but also thought to myself that I would gladly deal with him again because he was really quite easy to work with and a pleasant person.
Some observations about the show-
*The aisles were wide, easily navigated and sparsely populated with the buying public.
*Rare Coins of New Hampshire (Warren Mills) had an absolutely incredible Seated Liberty dollar in a PCGS MS64+ holder that has wonderful, original skin and color. If I could have afforded the coin it would be with me now. Alas…
*Angel Dee’s (Andy and Alynne Skrabalak) had a killer Buffalo nickel set on display and I believe it was complete (or near complete) and for sale. The coins were amazing.
*Several dealers said they had great shows for selling, but tough shows for buying.
*The relative stability in the price of gold made some feel quite happy and a few folks said they thought this stability was helping the sales of non-gold collector coins.
*There were quite a few attractive, original classic commems in dealer’s cases, but of course not so many of the killer toned pieces that take one’s breath, and wallet, away.
*I don’t necessarily subscribe to the idea of sleeper series, but those classic commems with a great look seem quite tempting at these price levels, though I have thought that off and on since at least 1994.
*More attractive, circulated Seated Liberty dollars were on the floor than I can recall from other shows.
*Similarly, VF/EF Barber and Seated Liberty dimes were popping up more, too.
*The exhibits were extensive, but I don’t think there were more than a handful of attendees looking at them during the entire show.
*There is a “no business allowed” rest area in the back of the bourse that might be useful when one is tired from the concrete flooring.
I write this often, but it is the people that one gets to know in the business that make it that much more interesting or enjoyable. This includes those collectors who stop by to say hello or who keep in touch online and is especially true for the pool of dealers who it seems I do business with over, and over, and over again, month-to-month and in city after city. I won’t list them individually because any such list will of course inadvertently leave off some folks, but will take the time to give a special thanks to those at Numismatic Americana, or however it is spelled on the ANA dealer badge
for the help. 
0
Comments
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
<< <i>Great report Tom, thanks for taking the time to write it up!
Sounds like nice coins are selling very well; MFH said he sold out nearly everything he brought, which was by Fri morning I believe.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Look forward to seeing what you got and even better, to getting to some East coast shows now that I live out here instead of the Left Coast.
John
siliconvalleycoins.com
I'm curious though, I've heard from more than one person that the vast majority of the buying and selling was dealer-to-dealer. That's fine, but a coin has to be sold to a collector eventually, doesn't it? The hobby/industry doesn't turn around very well if every few months the net effect is that each dealer stands up, moves, and sits down at the table to his left.
Does this just mean that the average collector doesn't do much business at major shows? It seems like many, many people here do, but then again this forum probably isn't a good representation of the "average collector."
<< <i>
<< <i>Great report Tom, thanks for taking the time to write it up!
<< <i>Great report. I am so bummed that I couldn't be there this year.
I'm curious though, I've heard from more than one person that the vast majority of the buying and selling was dealer-to-dealer. That's fine, but a coin has to be sold to a collector eventually, doesn't it? The hobby/industry doesn't turn around very well if every few months the net effect is that each dealer stands up, moves, and sits down at the table to his left.
Does this just mean that the average collector doesn't do much business at major shows? It seems like many, many people here do, but then again this forum probably isn't a good representation of the "average collector." >>
This is actually an excellent question that made me think quite a bit before answering. Please note that this post will be based upon my experiences and my opinions only and that other dealers may have different points of view. There are several factors that come into play. The first is that I have been a full-time dealer available to the public and attempting to grow a client base for only three years whereas I had been a part-time dealer who did the vast majority of my transactions on a dealer-to-dealer basis for fifteen years prior to my full-time conversion. Therefore, the pool of folks who have an experience in dealing with me and who know first-hand how I conduct business and the quality of the coins that I like to carry is heavily skewed in favor of dealers and not the collecting public. The constitution of that pool of folks means that at any show there are relatively few collectors who will have in mind a visit with me while conversely there will be a rather large number of dealers who will want to see me. Additionally, I have a feel for what certain dealers like to offer their own clients and I do not mind walking the bourse floor with my inventory to visit those dealers and sell coins to them directly. Most dealers either do not make this type of house call at all, or they do it on a limited basis instead of making it a large focus of their day. Lastly, I left the show on Friday afternoon, which meant that the days I was in attendance were days that the "average collector" would not be at the show unless they lived local to Philadelphia. After all, the "average collector" will not make the trip to the ANA no matter what; those who make the trip are far more hardcore than typical and those who go during business days in mid-week are even more hardcore than the previous group.
I would imagine that those dealers who purchase a table dedicated to just their business, who do not spend significant time walking the bourse to sell coins to other dealers and who stay for the Saturday attendance would sell a far higher percentage of their inventory to collectors than to dealers. To conclude, those coins that did come home with me to be listed on my site and offered on a first shot basis to those folks on my advance notice email list will almost exclusively end up in the hands of collectors rather than dealers. This means that while I am not physically at the show anymore, my show business will continue with the listing of new coins and the percentage of coins sold to collectors will rise dramatically.
In honor of the memory of Cpl. Michael E. Thompson
In some ways, the biggest coin shows seem more like a typical industry trade show than the hobby feel you get at a regional coin show for example. Maybe if I can gather my thoughts on this I'll bring it up in a new thread.
Again, thanks Tom.
I personally do not have any clients for bettercoins in my area, so at these shows i am selling off the better coins that have come in over the counter to the larger national dealers, and shop for myself on the buying side.