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NYINC Show Summary
Zohar
Posts: 6,629 ✭✭✭✭✭
Apologies in advance for the long write up. A very good show for many reasons. It started last Sunday when coming in for lot viewing @ the Waldorf and ended today when I took my daughter for a final brief run on the floor. Expectations for the show were to:
1) Get a feel for the current state of the market
2) Meet like minded collectors and broaden relationships with dealers/European auction houses
3) Reach a decision whether to consign a significant number of duplicate Talers or sell them myself
4) Purchase a defined number of pieces eying one special coin
5) Hopefully find a floor surprise.
What I had sensed on the floor and auction is that market anxiety had taken over, yet fear and greed still prevails. This was intensified after the high reserves on the Heritage sale, disappointing ancients sale as well as the Russian material drastic decline. Heard much chatter about the collapse of metals, strengthening of the dollar (by Europeans who suggested prices are much higher for them now) as well as weakness in Asia. However, as the CNG auction came around and by the time Stacks concluded their auctions, prices normalized again- perhaps the sequencing (Heritage going before CNG, and Stacks going last, capturing outbid CNG clients) drove the bidding levels. On the floor the top material was cleared with intensity. There was not much of it being offered. Dealers complained that it is tougher buying nice coins. My own experience in selling Talers of my own was very positive and evolved throughout the show. I had dealers that bought one, and a couple of days later called me when I passed their tables to see others and bought without hesitation/negotiation. I sold 17 Talers in 3 days - to me this is not weakness, yet perhaps some softness/correction in certain categories. I walk away encouraged.
On the social front, it was a wonderful experience. Early on (Thursday) I had a chance to spend quality time with EVP and Jeff who came in from Houston with his wife whom I met with Jeff during breakfast. We then went to EVP's hotel nearby to have a look at his purchased goodies and discussed alternatives and strategies to pursue a piece he was considering. Then off to the show floor (as early birds) with each of us focusing on their core areas. Very productive day all around as inventories were fresh and traffic was thinner. I ended up selling a handful of Talers and picking up an eye appealing piece earmarked for me by a dealer friend. Off to dinner with Jeff (Wife, Daughter/Son in law) and our own EVP. We were exhausted yet talkative to the point where I saw Jeff's daughter gazing at with the look of "Really, there are more people like dad around?". Jeff's wife is the real deal. She actually likes these round things and does look at what he buys. Not always the case, definitely not my wife. Friday was a continuum of the prior day - breakfast meeting Dennis who flew in from the West coast, EVP, Jeff, Harasha - matched faces to forum names and off the floor anticipating the Stacks auction in the evening - Spoke to MrEureka, met Iosephus and coincat briefly and non forum coin/medal friends who came in for the show. Lunch with EVP at his local Irish bar and then to the Stacks auction. A word about EVP - there is one like him around, this is a certainty. If there were more, we would not have coins left to buy. Got to know him even better at this show and can confirm he is the real collector as defined by Webster's dictionary - Great on the hunt, responds to quality when he sees it, always broke, yet strong follow through when he sees something he likes. The stuff he picked up is breathtaking (as I am sure he will share separately) and carefully cherrypicked. EVP offered to join me for auction night knowing it will take a while as we cruise through the ancient lots as well as look at a certain lot prior to auction - what was unique about this particular lot for me was the fact it broke through the single coin mental budget limit I had set for myself - he carefully walked me through the logic of why I should pursue it as a core piece (even if painful) and why he likes the coin. Being EVP he also said that I should let him know when I stop bidding for it so he can jump in - a true friend. 930PM or so, the lot goes live - a phone bidder goes head to head with me, I use up my cut bid, he outbids - I turn to EVP who without hesitation utters "Do it". I do, and then silence... going once, going twice.... sold. I had chest pain the rest of the evening. Off for a late dinner in the same place we had lunch. Thanks EVP.
Part of a collector's evolution involves developing a certain taste in coins and getting comfortable with relative quality/value over time. The more focused one is, the more demanding it can become. Given my narrow Habsburg focus, this process had accelerated during my 6 years of collecting, recently reaching a decision point - focus on representative pieces for the theme, trim the set to include fewer pieces. During a visit to the safe deposit box, I realized that what used to be a core piece of my collection had become a duplicate in some cases having multiple duplicates of each. I picked 30 Talers as a first cut (probably one more to follow) which I wished to offload. I also decided to explore direct selling. Generally stated, as a collector it is easier to buy than to sell. However, 17 Taler sales later, I can say that it is possible if you understand the particular tastes of each dealer - some look at quality tiers, some look at region, some at bargains. The sum of the parts is greater than the whole and I am happy I took this on rather than consign. Helped raise funds and confirm that I bought well early on.
Wrapped up today for an hour stroll today with my daughter visiting educational coin company picking up starter coins and saying my goodbyes. Overall a wonderful week, now back to reality. I truly enjoyed everything this week and thank my wife for handling the two little ones giving me such flexibility.
Purchases - Heritage Ancients (Already shared) - Note - Stacks images are much darker than coin's true view.
ATTICA. Athens. Ca. 165-42 BC. AR "New Style" tetradrachm (30mm, 16.74 gm, 1h). Struck 88/7 BC, Apellikon, Gorgias, and Argios, magistrates. Head of Athena right, wearing triple-crested Attic helmet ornamented with leaping griffin / owl standing right on amphora; magistrates ; in right field, griffin springing right; on amphora,below; all within wreath. Thompson 1140c. Sharply struck from fresh dies and attractively toned. NGC Choice AU* 5/5 - 5/5.
From The Lexington Collection of Jonathan K. Kern.
GRECO-BACTRIAN KINGDOM. Eucratides I the Great (ca. 170-145 BC). AR tetradrachm (32mm, 16.99 gm, 12h). Diademed, draped, and cuirassed bust of Eucratides right, wearing crested Bactrian helmet adorned with bull's horn and ear / the Dioscuri on rearing horses right, each holding palm fronds and spears, monogram before. Bopearachchi Série 6E. SNG ANS 465. HGC 12, 131. Light toning over lustrous fields, creating a cameo effect unusual for ancients. NGC MS 5/5 - 5/5.
AUSTRIA. 2 Taler, 1675-IAN. Graz Mint. Leopold I (1657-1705). NGC MS-65. Close to 60mm diameter - My "whale". These seldom come around at all and without issues, given size were frequently used as Jewelry.
Stacks description - "Dav-A3232; KM-1269. An impressive piece, which was well minted with the use of a roller press, leaving excellent surfaces of lustrous metal. Full detail of the design, probably the most pleasing on the reverse with its complex arms. Slightly lighter toning and more vibrant lustrous blue highlights. Free of all but the most minor handling marks. An exquisite multiple Taler with lovely old envelope toning and strong luster making for a pleasing and must have piece. "
Austria Leopold V Taler. NGC MS-64. Conditionally scarce and went for a low price.
Stacks description - "Dav-3330; KM-264.5. Sharply struck. Some light toning. Finest certified at either grading service. Absolutely astonishing condition. Museum quality in every respect. "
HUNGARY. 1/2 Taler, 1716-KB. Charles VI of Austria (1711-40). NGC MS-64. Conditionally scarce fractional.
Stacks description "KM-287. Sharply struck. Pleasing slate toning and an abundance of luster."
Additional purchases off the floor:
Austria. Taler. Hall Mint, 1713 Charles VI - colorful specimen (sent to NGC)
2 Copper Egyptian Para pieces that intrigued me given the pristine condition (off to NGC)
Breslau 1/2 Taler (off to NGC). Beautiful coin and scarce (off to NGC)
1) Get a feel for the current state of the market
2) Meet like minded collectors and broaden relationships with dealers/European auction houses
3) Reach a decision whether to consign a significant number of duplicate Talers or sell them myself
4) Purchase a defined number of pieces eying one special coin
5) Hopefully find a floor surprise.
What I had sensed on the floor and auction is that market anxiety had taken over, yet fear and greed still prevails. This was intensified after the high reserves on the Heritage sale, disappointing ancients sale as well as the Russian material drastic decline. Heard much chatter about the collapse of metals, strengthening of the dollar (by Europeans who suggested prices are much higher for them now) as well as weakness in Asia. However, as the CNG auction came around and by the time Stacks concluded their auctions, prices normalized again- perhaps the sequencing (Heritage going before CNG, and Stacks going last, capturing outbid CNG clients) drove the bidding levels. On the floor the top material was cleared with intensity. There was not much of it being offered. Dealers complained that it is tougher buying nice coins. My own experience in selling Talers of my own was very positive and evolved throughout the show. I had dealers that bought one, and a couple of days later called me when I passed their tables to see others and bought without hesitation/negotiation. I sold 17 Talers in 3 days - to me this is not weakness, yet perhaps some softness/correction in certain categories. I walk away encouraged.
On the social front, it was a wonderful experience. Early on (Thursday) I had a chance to spend quality time with EVP and Jeff who came in from Houston with his wife whom I met with Jeff during breakfast. We then went to EVP's hotel nearby to have a look at his purchased goodies and discussed alternatives and strategies to pursue a piece he was considering. Then off to the show floor (as early birds) with each of us focusing on their core areas. Very productive day all around as inventories were fresh and traffic was thinner. I ended up selling a handful of Talers and picking up an eye appealing piece earmarked for me by a dealer friend. Off to dinner with Jeff (Wife, Daughter/Son in law) and our own EVP. We were exhausted yet talkative to the point where I saw Jeff's daughter gazing at with the look of "Really, there are more people like dad around?". Jeff's wife is the real deal. She actually likes these round things and does look at what he buys. Not always the case, definitely not my wife. Friday was a continuum of the prior day - breakfast meeting Dennis who flew in from the West coast, EVP, Jeff, Harasha - matched faces to forum names and off the floor anticipating the Stacks auction in the evening - Spoke to MrEureka, met Iosephus and coincat briefly and non forum coin/medal friends who came in for the show. Lunch with EVP at his local Irish bar and then to the Stacks auction. A word about EVP - there is one like him around, this is a certainty. If there were more, we would not have coins left to buy. Got to know him even better at this show and can confirm he is the real collector as defined by Webster's dictionary - Great on the hunt, responds to quality when he sees it, always broke, yet strong follow through when he sees something he likes. The stuff he picked up is breathtaking (as I am sure he will share separately) and carefully cherrypicked. EVP offered to join me for auction night knowing it will take a while as we cruise through the ancient lots as well as look at a certain lot prior to auction - what was unique about this particular lot for me was the fact it broke through the single coin mental budget limit I had set for myself - he carefully walked me through the logic of why I should pursue it as a core piece (even if painful) and why he likes the coin. Being EVP he also said that I should let him know when I stop bidding for it so he can jump in - a true friend. 930PM or so, the lot goes live - a phone bidder goes head to head with me, I use up my cut bid, he outbids - I turn to EVP who without hesitation utters "Do it". I do, and then silence... going once, going twice.... sold. I had chest pain the rest of the evening. Off for a late dinner in the same place we had lunch. Thanks EVP.
Part of a collector's evolution involves developing a certain taste in coins and getting comfortable with relative quality/value over time. The more focused one is, the more demanding it can become. Given my narrow Habsburg focus, this process had accelerated during my 6 years of collecting, recently reaching a decision point - focus on representative pieces for the theme, trim the set to include fewer pieces. During a visit to the safe deposit box, I realized that what used to be a core piece of my collection had become a duplicate in some cases having multiple duplicates of each. I picked 30 Talers as a first cut (probably one more to follow) which I wished to offload. I also decided to explore direct selling. Generally stated, as a collector it is easier to buy than to sell. However, 17 Taler sales later, I can say that it is possible if you understand the particular tastes of each dealer - some look at quality tiers, some look at region, some at bargains. The sum of the parts is greater than the whole and I am happy I took this on rather than consign. Helped raise funds and confirm that I bought well early on.
Wrapped up today for an hour stroll today with my daughter visiting educational coin company picking up starter coins and saying my goodbyes. Overall a wonderful week, now back to reality. I truly enjoyed everything this week and thank my wife for handling the two little ones giving me such flexibility.
Purchases - Heritage Ancients (Already shared) - Note - Stacks images are much darker than coin's true view.
ATTICA. Athens. Ca. 165-42 BC. AR "New Style" tetradrachm (30mm, 16.74 gm, 1h). Struck 88/7 BC, Apellikon, Gorgias, and Argios, magistrates. Head of Athena right, wearing triple-crested Attic helmet ornamented with leaping griffin / owl standing right on amphora; magistrates ; in right field, griffin springing right; on amphora,below; all within wreath. Thompson 1140c. Sharply struck from fresh dies and attractively toned. NGC Choice AU* 5/5 - 5/5.
From The Lexington Collection of Jonathan K. Kern.
GRECO-BACTRIAN KINGDOM. Eucratides I the Great (ca. 170-145 BC). AR tetradrachm (32mm, 16.99 gm, 12h). Diademed, draped, and cuirassed bust of Eucratides right, wearing crested Bactrian helmet adorned with bull's horn and ear / the Dioscuri on rearing horses right, each holding palm fronds and spears, monogram before. Bopearachchi Série 6E. SNG ANS 465. HGC 12, 131. Light toning over lustrous fields, creating a cameo effect unusual for ancients. NGC MS 5/5 - 5/5.
AUSTRIA. 2 Taler, 1675-IAN. Graz Mint. Leopold I (1657-1705). NGC MS-65. Close to 60mm diameter - My "whale". These seldom come around at all and without issues, given size were frequently used as Jewelry.
Stacks description - "Dav-A3232; KM-1269. An impressive piece, which was well minted with the use of a roller press, leaving excellent surfaces of lustrous metal. Full detail of the design, probably the most pleasing on the reverse with its complex arms. Slightly lighter toning and more vibrant lustrous blue highlights. Free of all but the most minor handling marks. An exquisite multiple Taler with lovely old envelope toning and strong luster making for a pleasing and must have piece. "
Austria Leopold V Taler. NGC MS-64. Conditionally scarce and went for a low price.
Stacks description - "Dav-3330; KM-264.5. Sharply struck. Some light toning. Finest certified at either grading service. Absolutely astonishing condition. Museum quality in every respect. "
HUNGARY. 1/2 Taler, 1716-KB. Charles VI of Austria (1711-40). NGC MS-64. Conditionally scarce fractional.
Stacks description "KM-287. Sharply struck. Pleasing slate toning and an abundance of luster."
Additional purchases off the floor:
Austria. Taler. Hall Mint, 1713 Charles VI - colorful specimen (sent to NGC)
2 Copper Egyptian Para pieces that intrigued me given the pristine condition (off to NGC)
Breslau 1/2 Taler (off to NGC). Beautiful coin and scarce (off to NGC)
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Comments
DPOTD
Virtus Collection - Renaissance and Baroque Medals
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
I enjoyed the description of your learning and thinking process very much.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Experience the World through Numismatics...it's more than you can imagine.
The 2T is 65mm by the way making it a very sizeable 2T.
Taler Custom Set
Ancient Custom Set
myEbay
DPOTD 3
Taler Custom Set
Ancient Custom Set
Edited to add: If the 20 piastres wasn't a crown, but a small coin instead, then it must have been a 20P, which reads 20 para, only the coin is in silver and not in copper.
myEbay
DPOTD 3
Taler Custom Set
Ancient Custom Set
Glad you bonded with but sorry you had chest pain Ala EVP
Terrific report Zohar!
I enjoyed the description of your learning and thinking process very much.
Nothing more to say - thanks for sharing!
The others are cool and your new strategy and eye has vastly improved - what a magnificent effort!
Taler Custom Set
Ancient Custom Set
When one day you wish to sell it, please give me first right of refusal. I will pay better than "environmentally damaged AU58" money for it.
EVP
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
The broader census from NGC. I am not able to get PCGS by denomination. The circle is around the Graz type and this particular piece. The other is for all the 2T types graded.
Taler Custom Set
Ancient Custom Set
Taler Custom Set
Ancient Custom Set
Don't you have a gem Hall Hog 2T? What's the Dav/type?
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
Taler Custom Set
Ancient Custom Set