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My Albuquerque Fall Coin Show Friday Report and Newp (Show still in Progress)
2ltdjorn
Posts: 2,329 ✭✭✭✭
After having lived in Washington DC for 3 years, I believe I was mislead to the access to shows in other parts of the country. And in fact since moving from Washington DC to El Paso, I have in fact attended 2 shows (a short stint in Afghanistan didn't help). With the encouragement from the wife, I decided to head up for the first day of the show, I left about 7am for the 3.5 hour drive arriving around 11am. The show didn't open to the public until 2pm, however a friend from the local show got me in as an assistant at 11. The room was a good size, with approximately 100 tables, and maybe 50-60 dealers. I helped my friend set his 3 tables up (a world coin, exonumia dealer), I guess I really never gave it any thought at how labor intensive this is. The venue was held about 1-2 miles of the interstate at the cultural center, a very nice venue indeed.
Once the dealers got established I was able to browse and talk with fellow dealers. A lot seemed to come from Colorado. One of my favorite things to ask a dealer is what coin or note does he find interesting in his inventory. (I only do this with the talkers). I feel like you get to see a lot of cool items that way. One dealer was wearing a 4.5 ounce gold nugget on a chain around his neck, it was an australian specimen with good quartz. He said he had the biggest nugget in the room, I believed him until I saw a 12.5 ounce nugget that was pulled our of a river bed by an old lady in California.
I spent the first pass of the room just doing a quick look in dealers cases, making note of which ones had inventories that I would be interested in. Since joining this forum, I believe my knowledge has expanded exponentially. I did not see any doilies or ngc black holders ( I know they are rare, but I always look). RYK would be sad to know I did not see any Charlotte/Dahloega/New Orleans gold. I was hunting for a 1849-O and 1851-O AU Gold $'s. I will say that CAC material seemed sparse in comparison to a year ago, I guess it doesn't stay in stock long. What seemed to be common was Morgans, and Walkers. I did see at least 10 patterns on display ( I had 4 of them already). Pattern pricing is confusing to me, and I think they confuse the dealers as well as their prices are sort of moon money (but I guess that the start point of negotiation)?
The show was open until 6pm, and the presence of security was very well present. The club members did a phenomenal job of setting up the show, and they were even helping dealers unload & load. The room seemed to fill as the show opened to the public. It seemed at every dealers table clients we're searching through boxes of raw coins, it got even to the point where it would be hard to see in a dealers case (which I just did a quick lap, and the problem was usually resolved). I did see a little dealer to dealer trading but not a lot. I did however see some young 20ish folks tracking down some coins which makes me feel better about the future of the hobby. There was also a large hoard of young children browsing, and I can't wait to bring my son to shows.
I also for the first time brought some items to trade or sell, I attempted to trade a few items... but I have a problem when it comes to parting with items... so then I just kept the item & wrote a check. I did trade some bullion, and thats fine as it's easily replaceable. I did notice that while many dealers rely solely on the grey sheet for everything, there was no differentiation for PQ material and regular items, everything was assessed as so-so, I feel this may be why some dealers have such stagnant inventories.
If you are near, I do recommend the show. Its a nice sized regional/local show. You will see dealers from the SW, Midwest. And if you look you will find some nice coins too!
I do believe my favorite part of shows is talking, with other dealers or collectors. I find that in my local region outside the coin club, and PCGS forums I do not have anyone that truly cares
As when most ask about an item, the question is what does that cost... then they call me crazy! And my wife, while a wonderful woman & mother to my son, has 0 interest.
Edit to Add: Also another phenomena that I saw was that several dealers would state, while you were examining the coin, that they felt it was overgrazed. That was interesting in the fact that many of the coins spoke of were in new secure plus holders, etc. I have seen where in the marketplace many coin dealers & collectors will often sell the idea that coin is under graded, particularly when it comes to the big jumps in price guides. This i contribute to sell the idea of a contender for CAC coins, or an upgrade at the TPG. But why would someone objectively state a coin is overgraded?
A big piece of california gold...
12.5 ounces
So for Newps...
1945-S PCGS MS66 Mercury, a cheap coin, but the color on the rims of light golden fire spoke to me.
1885 PCGS MS64 Morgan, The Obverse has scattered toning of pinks/red/orange with light blue rim edge. the back is blast white with golden peripheral toning that is circumferential.
1972 DDO PCGS MS 65RB, While I have several UNC specimens, this coin spoke to me. The coin has amazing red, and amazing luster. Recently graded, and not sent to CAC.. might be my first.
1909 S VDB PCGS VF30 CAC (the white spot is on the holder), This coin is a great example of nice circulated milk chocolate example. the VDB on the back is so strong. I couldn't resist such a favorite date.
A 3 ounce hand poured bar from Prospectors Gold & Gems
Once the dealers got established I was able to browse and talk with fellow dealers. A lot seemed to come from Colorado. One of my favorite things to ask a dealer is what coin or note does he find interesting in his inventory. (I only do this with the talkers). I feel like you get to see a lot of cool items that way. One dealer was wearing a 4.5 ounce gold nugget on a chain around his neck, it was an australian specimen with good quartz. He said he had the biggest nugget in the room, I believed him until I saw a 12.5 ounce nugget that was pulled our of a river bed by an old lady in California.
I spent the first pass of the room just doing a quick look in dealers cases, making note of which ones had inventories that I would be interested in. Since joining this forum, I believe my knowledge has expanded exponentially. I did not see any doilies or ngc black holders ( I know they are rare, but I always look). RYK would be sad to know I did not see any Charlotte/Dahloega/New Orleans gold. I was hunting for a 1849-O and 1851-O AU Gold $'s. I will say that CAC material seemed sparse in comparison to a year ago, I guess it doesn't stay in stock long. What seemed to be common was Morgans, and Walkers. I did see at least 10 patterns on display ( I had 4 of them already). Pattern pricing is confusing to me, and I think they confuse the dealers as well as their prices are sort of moon money (but I guess that the start point of negotiation)?
The show was open until 6pm, and the presence of security was very well present. The club members did a phenomenal job of setting up the show, and they were even helping dealers unload & load. The room seemed to fill as the show opened to the public. It seemed at every dealers table clients we're searching through boxes of raw coins, it got even to the point where it would be hard to see in a dealers case (which I just did a quick lap, and the problem was usually resolved). I did see a little dealer to dealer trading but not a lot. I did however see some young 20ish folks tracking down some coins which makes me feel better about the future of the hobby. There was also a large hoard of young children browsing, and I can't wait to bring my son to shows.
I also for the first time brought some items to trade or sell, I attempted to trade a few items... but I have a problem when it comes to parting with items... so then I just kept the item & wrote a check. I did trade some bullion, and thats fine as it's easily replaceable. I did notice that while many dealers rely solely on the grey sheet for everything, there was no differentiation for PQ material and regular items, everything was assessed as so-so, I feel this may be why some dealers have such stagnant inventories.
If you are near, I do recommend the show. Its a nice sized regional/local show. You will see dealers from the SW, Midwest. And if you look you will find some nice coins too!
I do believe my favorite part of shows is talking, with other dealers or collectors. I find that in my local region outside the coin club, and PCGS forums I do not have anyone that truly cares
As when most ask about an item, the question is what does that cost... then they call me crazy! And my wife, while a wonderful woman & mother to my son, has 0 interest. Edit to Add: Also another phenomena that I saw was that several dealers would state, while you were examining the coin, that they felt it was overgrazed. That was interesting in the fact that many of the coins spoke of were in new secure plus holders, etc. I have seen where in the marketplace many coin dealers & collectors will often sell the idea that coin is under graded, particularly when it comes to the big jumps in price guides. This i contribute to sell the idea of a contender for CAC coins, or an upgrade at the TPG. But why would someone objectively state a coin is overgraded?
A big piece of california gold...
12.5 ounces
So for Newps...
1945-S PCGS MS66 Mercury, a cheap coin, but the color on the rims of light golden fire spoke to me.
1885 PCGS MS64 Morgan, The Obverse has scattered toning of pinks/red/orange with light blue rim edge. the back is blast white with golden peripheral toning that is circumferential.
1972 DDO PCGS MS 65RB, While I have several UNC specimens, this coin spoke to me. The coin has amazing red, and amazing luster. Recently graded, and not sent to CAC.. might be my first.
1909 S VDB PCGS VF30 CAC (the white spot is on the holder), This coin is a great example of nice circulated milk chocolate example. the VDB on the back is so strong. I couldn't resist such a favorite date.
A 3 ounce hand poured bar from Prospectors Gold & Gems
WTB... errors, New Orleans gold, and circulated 20th key date coins!
0
Comments
I'm glad to hear you enjoyed the show!
It's certainly true that where you are the coin shows are "few and far between"!
Check out the Southern Gold Society
1849-O G$1's in AU are much more difficult to find than one would predict based on pop #'s.
<< <i>Nice report!
1849-O G$1's in AU are much more difficult to find than one would predict based on pop #'s. >>
Yes, I have been looking for one for about 2 years.
<< <i>Thanks for a very interesting show report. >>
Thank You!
Mike