ANA show report
DarkStar
Posts: 463 ✭✭✭✭✭
I was there Tuesday and Wednesday. My thoughts and observations:
1) Every year I come back thinking the same thing - it must be really hard to be a coin dealer:
a) huge room, concrete floors
b) toting around heavy boxes of product to sell
c) keeping things safe
d) travelling/TSA
e) dealing with dealers - knowing who the good guys/bad guys are, avoiding bad checks, almost everybody is trying to skin everybody else alive
f) dealing with the public - honestly I cannot imagine
2) If one works really hard, I'm sure one can make some money. But I think it was very difficult to sell this year - cash flow must be really bad for many. Buying was possible, especially if you're ok with Walkers, Morgans, commems, or generic gold.
3) Auctions have really taken over. That's where the unusual or nice coins are, and the competition is impossible. I was looking for cacked ms Seated Lib 25c and 50c from the 1840s. On the floor I saw about three of each, all either out of my league or fugly or messed with or all of the above.
4) The Kennedys, ah, where do I begin? What a clusterfuddernutter. People were lining up at 2am. Major police presence, arrests, fist fights, really, all one could wish for at a coin show. I could see the end of the line from my hotel window, which had to be at least a quarter mile from the entrance. Obviously all shills for dealers, a representative for whom I understand would be standing at the front of the line actually paying the bill when the standee made the purchase. At least why not make people use their own credit card to purchase? Apparently pricing was from 3k on day 1 down to 2k on day 2. I have no words to describe how discombobulated the Mint appears to be, and it's pretty amazing to me that the ANA allows/sanctions/abets/whatever the dysfunction. Is this what they want their crown jewel to be?
I bought:
1) 1823 50c PC3 (no pics yet)
2) 1906 50c PC4
3) colored 1896 $1 PC6 cac
I think the 50c are both super nice, and I think they will cac. If not, well, buried again. The joy of being a 21st century coin collector. But I had fun, enjoyed meeting up with my pretty small personal Circle of Trust, and generally enjoyed looking at lots of pretty coins. And of course they've been cleaned (oops, I mean conserved), but those Saddle Ridge $20s really look spectacular!
1) Every year I come back thinking the same thing - it must be really hard to be a coin dealer:
a) huge room, concrete floors
b) toting around heavy boxes of product to sell
c) keeping things safe
d) travelling/TSA
e) dealing with dealers - knowing who the good guys/bad guys are, avoiding bad checks, almost everybody is trying to skin everybody else alive
f) dealing with the public - honestly I cannot imagine
2) If one works really hard, I'm sure one can make some money. But I think it was very difficult to sell this year - cash flow must be really bad for many. Buying was possible, especially if you're ok with Walkers, Morgans, commems, or generic gold.
3) Auctions have really taken over. That's where the unusual or nice coins are, and the competition is impossible. I was looking for cacked ms Seated Lib 25c and 50c from the 1840s. On the floor I saw about three of each, all either out of my league or fugly or messed with or all of the above.
4) The Kennedys, ah, where do I begin? What a clusterfuddernutter. People were lining up at 2am. Major police presence, arrests, fist fights, really, all one could wish for at a coin show. I could see the end of the line from my hotel window, which had to be at least a quarter mile from the entrance. Obviously all shills for dealers, a representative for whom I understand would be standing at the front of the line actually paying the bill when the standee made the purchase. At least why not make people use their own credit card to purchase? Apparently pricing was from 3k on day 1 down to 2k on day 2. I have no words to describe how discombobulated the Mint appears to be, and it's pretty amazing to me that the ANA allows/sanctions/abets/whatever the dysfunction. Is this what they want their crown jewel to be?
I bought:
1) 1823 50c PC3 (no pics yet)
2) 1906 50c PC4
3) colored 1896 $1 PC6 cac
I think the 50c are both super nice, and I think they will cac. If not, well, buried again. The joy of being a 21st century coin collector. But I had fun, enjoyed meeting up with my pretty small personal Circle of Trust, and generally enjoyed looking at lots of pretty coins. And of course they've been cleaned (oops, I mean conserved), but those Saddle Ridge $20s really look spectacular!
There are 10 types of people in the world, those who understand binary and those who do not.
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Comments
Nice Barber Half!
Check out the Southern Gold Society
<< <i>Thanks for the report.
Nice Barber Half! >>
+1
U.S. Type Set
It will be interesting to see how this plays out in the show reports
<< <i>But I think it was very difficult to sell this year - cash flow must be really bad for many. >>
Thank you for the report.
Very Nice Barber
I think offering tickets to ANA members on a lottery system may have cured some problems. Also, the ANA ED and Pres did a great job handling this. They should be compensated by the Mint.
In answer to your question number 4, it's simply all about MONEY! The ANA made money from all the early bird badges that were sold, the Mint made money, the Grading services made money (they were overwhelmed) and, of course, a number of shrewd dealers made money. Many of the people in line didn't have credit cards, or the money to hand over twelve hundred plus dollars. I'm told the Mint first prohibited the passing of money as the buyers approached, but later relented. Nice Barber by the way.
carolinacollectorcoins.com
Nice Barber Half.
Tom
<< <i>Thank you for the report.
Very Nice Barber
+1
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