NY International Report
coinkat
Posts: 22,797 ✭✭✭✭✭
I was there on Friday for the day-arrived at the show around 10:30. There is a new venue which is significantly different that features more of a post-modern sterile vibe in contrast to the Art Deco look of the Waldorf. Architecture and the general feel of the venue is no excuse not to attend a coin show. The show was on the B Level in one Ballroom that the room seemed underwhelming in an overwhelming sense based on the crowd and the narrow isles. It was difficult to get to certain dealers. I suppose for some the location was a plus given how close it was to Grand Central.
This is a terrific show to see and buy art medals as well as coins. I managed to add afew medals that I thought were interesting including a French Aero medal that likely was from WWI. Instead of writing about what I bought... And because there is simply not much to write about on that score. I did find one addition for my Whitman Canadian type set... So I will share my observations instead.The World Coin market is changing. I saw more slabbed coins this year than last year. And this means that there is greater attention as to grade and condition rarity. There was one coin that I had an interest in and the price I was quoted was significantly more than what I was expecting. And just so Mr. E can feel some sense of relief, it was not the coin he showed me. My point is that the spreads between grades for certain World coins seems to be increasing. I am not sure if the traditional world collectors are quite ready for this. And it may not make a difference if there remains a decent mix of coins available at all levels.
Edited to add: I saw 1960nygiants... Talked about some Canadian issues. I did not talk long as I needed to find something for my wife while I was in NYC. Saw Zohar, Mr.E, Civitas and Stork.
Experience the World through Numismatics...it's more than you can imagine.
Comments
I suspect that some US coin collectors are now moving into world coins and medals. These collectors are very grade conscious and are bringing their preference for slabs with them. Look for the best world coins and medals to experience upward price movement in future years as more and more US collectors move to that area of interest.
coinkat - always a pleasure (even though brief) to catch up. You are quite the gentlemen! I agree with your observations 100%.
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Ancient Custom Set
Interesting report. Thanks for writing it up. I think the trend to quality and more slabbing has definitely been evolving the world coin market over the last five years... seems to be accelerating.
Well, I did see Legend Rare Coin Auctions had a presence/room through today. So, is Legend planning to expand into the world market? I didn't think they swung the darkside way. The business model seems dependent on a certain degree of elitism and created exclusiveness that seems hard to wrap around the more global markets. Oi.
Julie says no to expanding to the world coin market, at least for now. LRCA were at NYINC for lot viewing (of their lots).
However, why is a business model of pursuing high-end and awesome pieces any less suitable for the world coin market than for the US market?
How does one get a hater to stop hating?
I can be reached at evillageprowler@gmail.com
I love their awesome coins and the high end model is fine-- but sometimes the elitism drives me nuts.
It's marketing I suppose. They do handle the superb. But the dismissal of so much else as 'dreck' and 'widgets' bugs me.
Not everyone has the same collecting goals (or budget) and I always feel if you don't collect what they sell then you are disparaged. At least that's how I feel when reading their market reports.
Shoot, my prettiest Saint came from them but was clearly one of their widgets. They were lovely to deal with but even so, the reports make it quite clear I am not their typical client.
It's a style thing and I could carry on. Maybe I should just admire their coins and ignore the commentary.
EVP... It's about how such a business plan is undertaken. And frankly the demeanor by which coins become widgets is just simply not welcome on the world stage.
Experience the World through Numismatics...it's more than you can imagine.
The impact of the TPGs in some parts of the world market is noticeable, but I think it is the more modern stuff that has probably seen the most change. 19th and 20th century stuff I would say. I agree that there were an awful lot of slabs on the bourse and in the auctions.
TPG entry to ancient and medieval coins has been somewhat less successful. Grading in these areas still seems inconsistent. Hammered coins are overwhelmingly still raw.
There are already several American dealers/firms that specialize in high end slabbed world/ancient. It can be done. It does require a decent amount of resources to go out and seek high end coins from international venues and locations.