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Two days at the ANA show
GoldenEyeNumismatics
Posts: 13,187 ✭✭✭
Just wrapped up 2 days at the ANA in Chicago. This was my first coin show in over 4 years. I was very active in coins up until early 2015, then took a pivot in my career and have been mostly absent since about a month ago.
It was great to see a bunch of old friends. Most people who I knew could still recognize me 
TLDR: the coin market seems very much like when I left in 2015, only moreso.
By that I mean:
- When I left, anything generic (common date gold, proof type, 20th century "keys", etc) was getting crushed. It now seems that many of those same coins are trading an additional 20-40% lower, unless they're directly supported by their spot value. Ouch. At least it seems that the skid has slowed.
- The bifurcation of the market for PQ vs average/overgraded coins has widened. "PQ" also seems more oriented towards eye appeal than just technical grade.
- As lots of series have compressed in value, it seems like more dealers are dabbling in higher-margin segments of the industry. As an example, I saw more dealers than I expected with B- and C-level toned Morgan and Peace dollars with very high asking prices. Those who had A-level toned coins were asking numbers that I thought were just crazy..... but I don't know, maybe they're able to get it. At one point I saw a nicely bag toned 1881-S Morgan PCGS MS66. I had a mental price in my head of $2,500 and when I asked the gentleman if I could see it, he opted to leave it in the case and just say "it's $20,000."
But there were also some really interesting, encouraging things:
- Traffic seemed healthy and I heard a lot of people say they were having a good show.
- A lot of people were talking about new ways they've been selling coins.... over Facebook, Instagram, etc.. It is exciting to see the embrace of technology. Lots of people looking up prices and auction records on their phones & tablets. I did not see a single paper CDN in 2 days.
- Lots of teenagers and twenty-somethings walking around.
I didn't buy much but enjoyed seeing what was out there. There was a decent amount of the recent SS Central America stuff which was fun to see. It was good to get to see some coins in person again!
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Comments
Good to see you back
Nice report. I'm glad to see you noticed some green shoots.
"Inspiration exists, but it has to find you working" Pablo Picasso
Interesting report
I saw two guys from Norway who looked like they should have stayed home. Maybe they had something going on behind the scene but no one was at their table, their wares were sparse. I said to them "you guys came a long way to sit in chairs". ( they did speak English). I don't think they liked me.
Thanks for your report @GoldenEyeNumismatics interesting to read the differences (and non-differences) 4-5 years can make in numismatics.
Great report and spot on.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
@GoldenEyeNumismatics....Excellent report... Thank you for the detailed observations, particularly the encouraging portion... too often overlooked - and that portion is a huge part of the future. Cheers, RickO
A very nice snapshot of the show. A different perspective and very interesting. Thanks for taking the time.
They were probably there hoping to buy some Norway coins on the cheap. The market was really strong and seems to have softened a bit. I suspect the market is still healthy in Norway but the dealers that I've tried to deal with seem to want to triple up!
Thanks for the report and your perspectives.
Nicely toned 81S Morgan for $20k - LOL!.......It would take the rest of the coins that were
in that original bag to entice me at that price.
RE: "Lots of teenagers and twenty-somethings walking around."
Encouraging. Now, why were they there and how can connections be made?
Sky-high prices on common toners certainly isn't the way.
Collector, occasional seller
Welcome back.
I enjoyed reading your observations.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Nice report.
Nice to hear from you again !
I have no way to respond to a dealer asking 20K for a 81-S.
They would have to throw in 19 oz's of Gold. 
Shall I post our pic? I did recognize you but it did take me a few seconds
Hey? No pics???
They were PokemonGo hunting "Taurus" and "Ditto" and were told they were in the area
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Yes, post!
Thanks, lots of good reports here.
You guys guess who is who lol
I was recently shown a set of two vibrantly toned 1880-s or 1881-s Morgans in MS65 old holders. Quoted values were $50k for one and $75k for the other.
Gobrecht's Engraved Mature Head Large Cent Model
https://www.instagram.com/rexrarities/?hl=en
Until they SELL for that amount a quoted price means nothing other than how proud the owner is of them. JMO
Collector, occasional seller
Thanks for the report
The name tags alleviate the burden of guessing!
Smitten with DBLCs.
I forget the name of the dealer. Nice guy and all, but, about 11 years ago, at FUN in Florida, I saw a dealer with FANTASTIC looking toned coins, of all sorts. I know there is, and was, a big premium, for nicely toned coins. These were all PCGS slabbed, all looked NT, to me, and weren't top of the line grades.....all were HUGE MULTIPLES of prices for most toned coins of the same date/type. Prices weren't marked, so when he told me some of the prices, I about choked....I was stunned. Not quite the $50k and above, but I do wonder if it may be the same dealer.....
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment