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Red Book Podcast#11 w/ John Albanese
JohnF
Posts: 335 ✭✭✭✭
Jeff Garrett and I spoke to John for an hour yesterday to chat about various industry topics. Hope ya'll enjoy and had a wonderful July 4 weekend!!!
https://youtu.be/W_YalShM1Os?si=t-AroufwX5ngdNgx&t=5
John
John Feigenbaum
Whitman Brands: President/CEO (www.greysheet.com; www.whitman.com)
PNG: Executive Director (www.pngdealers.org)
Whitman Brands: President/CEO (www.greysheet.com; www.whitman.com)
PNG: Executive Director (www.pngdealers.org)
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This was a fun one!
chopmarkedtradedollars.com
Yep a fun one for sure. Thanks John!
Enjoyed it!
God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️
Excellent! Thanks John!
Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )
Cool 😎
I love the line from JA near the end - "an 1822 quarter in VF that is original…. To me it is kind of a miracle…….”.
Well yes it is, and here ya go John:
I love the line where he says you can bend them in your hands... that was hilarious. Thank you for watching!!!
John
Whitman Brands: President/CEO (www.greysheet.com; www.whitman.com)
PNG: Executive Director (www.pngdealers.org)
Yeah I left that part out of the quote above, but its true they are very thin………….
Great post and content! Well deserving of a bookmark/star so I can find this thread hopefully in 7 yrs….or 7 days. Thx!
Chance favors the prepared mind.
Thanks for that, just finished watching it
Mr_Spud
Fun and informative to watch.
My current "Box of 20"
This is a great conversation with John. He is truly the wizard of the coin industry and just a great person. Thank you for sharing your knowledge of the industry with everyone! BTW - I agree that a US coin from 1822 in VF that's original and perfect circulated is a miracle that it exists......
Awesome! Loved it!
Thanks for posting, enjoyed the discussions. And BTW, some 1822's look pretty good in VG:
End Systemic Elitism - It Takes All of Us
ANA LM, LSCC, EAC, FUN
Yes, a great interview.
To me, what was most interesting, was a specific tiny tidbit of information, not new, but restated: John Albanese is about two years into his 10 year contract, and at the end of this point, he said the following very fast, with no expanded commentary by any of the three people - CAC stickering WILL end.
When that happens, I envision the current pricing differential between stickered PCGS and NGC coins and their non stickered counterparts will increase more than it is today.
I understand there’s a group of collectors who have chosen to not have their slabbed Classic coins submitted for stickering, but say when the time comes to sell, THEN they’ll submit them in order to maximize value for themselves or their heirs. Hopefully for them they do it before the end. Otherwise, either they won’t have the opportunity, or they can submit their coins to cross to CACG in Virginia Beach. I believe many of these collectors will not do that.
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Fun! And very true statement regarding the 1822 quarters. I'll post one as well.
Found this quote from John interesting. Sounds like the coin-buying public values the holder much more than I realized.
"I've talked to a lot of marketers out there and they'd rather have a subpar coin in a nice holder with a nice hologram than a really nice coin [in a subpar holder] ... It's about the sizzle now."
Ye, John, I agree it would be a miracle. Its only a fine and not getting any better. LOL
@EastonCollection A fine may have to do! I’ve never seen a really nice VF 1822 B2
Founder- Peak Rarities
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Interesting comments regarding gradeflation and how the high price spreads between MS grades in the early TPG days caused tighter grading. I certainly remember how the coins I submitted back then had to be real solid “gems” to get a 65 and how spectacular the few 66’s looked.
Sales of Red Books is expected to hit 240,000 copies in 2025! That is an amazing number.
I agree! There's nothing quite like the Red Book in the world of collectibles. It may be the best ambassador of the hobby we have.
Whitman Brands: President/CEO (www.greysheet.com; www.whitman.com)
PNG: Executive Director (www.pngdealers.org)
Great interview....here's an 1822 quarter...
jom
"[Modern quarters] don't rise to getting graded."
There are several reasons for this and I know John Feigenbaum is working on one of them and that is the catalog prices do not reflect value. The quarters, especially the older clad quarters, are simply not readily available and do not trade extensively because they are perceived as being too common. They simply aren't collected widely because of low prices and the few who do seek them are put off when sellers want more than catalog. Of course none of these are scarce except in high grade which brings us to the second problem: Moderns tend to be graded on the same standards as the vintage coins. This means poorly struck coins and coins struck by worn dies can get high grades. This problem is somewhat more difficult to correct because not all collectors care how poorly struck coins are so there's no demand to change the grading standards in a barely existing market.
All of these same things really affect the memorial cents which are going the way of the buggy whip (finally) and this will be noticed by the general population. Nice attractive Gem memorial cents are all common but they are far tougher than price guides and graders make them out to be. No market has developed because nobody can acquire, process, and ship coins for anywhere near catalog prices. If you think you can just try to buy a stock of 1968 one cent coins well struck by good dies and free of blemishes and carbon spots you are very wrong. You can't do it because most of the '68 mint sets are gone and the few survivors have tarnished AND spotted philly cents. Only 10% of them were Gem back in 1968. You can find rolls but the percentage of tarnished coins is far higher than the percentage of Gem.
While I believe moderns are collectible in their own right and are a sufficient end point for any collector the commentators are certainly correct that many modern collectors do go on to collect vintage coins. I believe the pool of potential modern collectors is far far larger than what is being tapped at this time and the best way to tap it is to address the numerous specific impediments to collecting these coins. This is the ideal time to act because the penny elimination and 250th anniversary celebration will draw a great deal of attention to circulating coinage,