Dealer Setup and FUN Show Day 1
Desert Moon
Posts: 6,244 ✭✭✭✭✭
Hi Folks.
What just happened? My brain is trying to compute what is going on at the FUN Show. Oh My. I am fried. OK, whew…….. So about 10 days ago I experienced a very strong case of Vertigo which is still ongoing but tapering off. When I went to my doc last Tuesday, we discussed the issue and I told him I had to go to Orlando on Monday next and gave him an extreme number in dollars of sales for my buisness I would lose if I could not go. I just threw out a crazy high number just to let him know it was ’serious’ if I could not make it (it was after all, it is THE SHOW). He looked shocked, and said, ‘well DM, you might have a bit of er, recovery after flying if you try to do this, let’s see how it goes’. So by this past Monday the drugs he gave me and his diagnosis of what is causing the Vertigo seems to be correct, and I was only a little loopy when I walked, the rest of the symptoms had gone and sitting down or standing was fine. Plane ride was obviously fine, and right now at 5 am today, I am feeling almost back to normal. But I am thinking about that number in sales I gave him which was nuts. I am just shaking my head right now, we are 2 days into the show, and, I have almost hit that number. This is total craziness. But it gives you an idea about what is going on at this show in terms of activity. So let me give you a bit of that here.
So let’s go to Dealer Day. CB and I made it over to the OCC about 9:30 am. We went right back to the Dealer Wholesale room which was even more busy that the day before. We saw David Kahn and went right over and sat down ready to roll. We were not the only ones, and every table in the room was backed up with dealers trying to buy. So we got in the cue at David Kahn, and over about an hour we moved up enough such that Melissa started passing me boxes. I picked out 8 coins to potentially buy and Melissa gave me numbers for each. For 6, there was enough room left for me to get them. The 2 I had to reluctantly pass on were lovely bust halves, which I really really wanted. But as most pq bust halves these days, the markup was over CAC retail and I just was not sure if I had any room left. So alas I had to pass. We left the room about noon-ish, CB went off to a reception and I sat down and put the newps into my spreadsheet and priced them out for my table.
This brought us to Dealer Day opening at 2 pm. As usual in the hall leading to the bourse, the dealer mosh pit was a happening place with everyone rarin’ to go. There was great anticipation, we chatted with a few dealers and there was quite a buzz. Then suddenly it was 2 pm, and there was a surge towards the escalators down to the bourse. This is quite an event in itself. About a thousand people surging to a single double door opening to pass through, each carrying, pushing, etc. hoards of containers with coins in them. CB and I skirted to the left of the escalators and down the stairs, me carrying my backpack/suitcase combo hoping my loopy head would not put me in a tumble. CB offered to carry them but I have to do this as I am going to beat this LOL. So we got down the stairs converged into the mosh right at the door and were in.
Once in the bourse, everyone spread out and heads to their table. The buzz was still there, CB and I found our table and began to set up. Immediately there was a crowd in front of my table and buying/selling started with a bang. It took 2 hours to set up the 3 cases full of coins, writing invoices and talking to folks on the other side about the coins as they appeared in the cases. Nuts I thought, this is more busy than normal. But that was just the beginning.
So all evening until bourse closing (we left at 7:45 pm it closed at 8) it was like that. Super busy. By 7:45 we had amassed the group we were going to dinner with, but there were still 2 people at the table wanting to do buisness. I never got away for 5.75 hours from the back of the table. We finally convinced the 2 nice folks talking to us to come back in the morning and we could carry on then. Then we were ready to go, got out in the parking lot and into a car and off to the restaurant area just north on I-drive.
We wanted to go to a mexican food restaurant we went to last year. I noted that it was very loud in there last year and CB suggested we get a table outside. We did, it was a lovely evening and had a great dinner. We did not completely avoid the noise though. A group sat down at the table next to us near the end of our dinner. One was having a birthday, the restaurant’s mariachi band roared out and started playing happy birthday. After their rendition, that group was so loud that we could barely hear ourselves. Then off to the hotel by foot, me with my loopy gait, I am figuring all passers by though I was totally sloshed……..
I woke up by 5 am and did paper work from the Dealer Day activities. I like to keep my records up to date so I know the cash flow and what I have sold and what I have bought. So never had time to write a report. About 8 am I walked over to the OCC ready for the 8:30 am opening for Day 1. And of course as soon as I got there, one of the guys from the night before that we shooed off was there at the table ready to get going. So I made 2 more sales to him and it just went from there. Just about the time the public was coming in at 10 am, there seemed to be a pause and CB manned the table while I went over to Great Collections to pick up my very very cool auction win from Sunday. Had a nice chat with Andy and Ben, got this totally cool coin in my paws, and looked towards the entrance and there they were, a massive hoard of humanity surging towards as the public arrived. I thought U-Oh, no time to go look for coins, I need to get back. So once the ‘public’ was settled in, the buzz and activity was like I had never seen before. We had 3 or 4 folks at a time asking to see coins in the cases, we had to keep an eye on things but everyone seemed like honest good people so nothing happened of the nefarious nature. Invoice after invoice was written, CB and I both took breaks to deliver coins sold the night before to dealers out on the bourse. When I went to the Northern Nevada Coin table sometime in the early afternoon, which was literally a huge wrap-around multiple-booths combined into one affair suite, I saw they were having the same activity, but just on a larger scale than me. All of the NNC people were busy with customers across these many tables, while others, were essentially waiting in the cue. After a few minutes it was my turn, I delivered my coin and got the check and had a nice chat. Everywhere I looked it was the same. Yikes.
Finally, around 3 pm, I got a break to go search for coins while CB manned the booth. By that time, I had amassed so much cash I had to go out and thin the stack. So I went hunting for old gold coins. And found a few at doable prices, examples that fit in with my type of inventory, cool. I happily paid with C-notes and got that stack down to a comfortable thickness. Then back to the booth with my very cool newps. Once there, as if on cue, a nice gentleman came up to the table to peruse my Indian Quarter Eagles. He said he was building a complete set in MS65 or better and I had some CACed and he said no one else had any on the floor at least where he had searched. These are not cheap. He ended up buying 2 of mine, he paid cash (I was asking everyone to pay by check if they could), and dang if that stack of C-notes just grew thicker again. I jokingly said hey you could compromise and buy one of my AU 11-D’s. He said yah I like yours but I am going to hold out for a 65. Hoo……………….. Can’t wait to see that one.
During all of that time, vest pocket guys and collectors were coming to the table to sell as well. I managed to buy a few that were fitting into my inventory themes, and it was always nice to meet new folks and establish rapport, and interact with the ‘regulars’ that bring cool coins to offer to me. That is very much appreciated and part of the back bone that keeps me having coins to sell. Also, some of the collectors go to the same shows I do, so you get to see them at each, and we get to have nice chats while I begin also to understand their collecting goals. An example of that is a great guy from NY that collects early bust everything in VF to XF-ish. He has the coolest set of all of the bust series, and he is now at the stage of filling in the few he needs. Every time I have something for him, it is just nice that I can help him with his set. And he always brings some for show and tell in his beautifully matched set across all denominations. So when I get those experiences sitting behind the table? Priceless.
But not all interactions are fully positive. I had one guy yesterday come by and looked at one of my newp bust dimes. He liked it, asked the price and gave him my net. He said no it’s value is X and you should sell it to me for that. The value was below my net, and I told him that is the price I cannot go lower. I need to make a reasonable margin to cover expenses. Several more roundabouts explaining to me why I should sell to him at his price. I just said no. Finally it took some time but he gave up and left and was not happy. He was a dealer looking to flip. No way I was going to go below my margin for that. With more amenable folks, I try to work it out. But when someone is so belligerent, nope…………. But those experiences are not too often.
So there is it, the bourse was crazy and more wild than I have ever seen in 2 decades going to coin shows. I truly am blown away on how numismatic activity is right now. I want to thank all of the nice PCGS board members who came to say hi at my table. I am honored to have you as colleagues here and it was wonderful to renew with the guys I have already met, and to meet the ones I had not yet and put faces to names here. Just a nice group of people. Thanks!
View of the ‘CRO’ hat at my back table:
View looking out from my table (99% CACed/CACG coins in the cases):
No time to proof read this, my apologies, but come to FUN if you can and have not. It is a great numismatic adventure.
More anon, Best, DM
Comments
Great report !
Sounds like an excellent show.....Good luck with the vertigo. Physical therapy may be an option......
Great chatting with you! I'm shocked you got out such a cogent and nicely written piece. I'm zonked. Good luck today!
chopmarkedtradedollars.com
Great read!
No time to proof read and you got that out with so few typos? I’d have had 50 of them.
Great to visit with you and @Catbert yesterday, DM!
For anyone thinking this report is dealer hype and happy talk, I assure you it is not. I’ve been attending FUN shows for ~25 years, and I’ve never seen it this crowded, or heard as many comments from dealers about being picked clean before the first day of the public show.
Sounds like you’re killing it Al. Way to go. Excited to see what comes up on your site when you settle back at home!
Great writeup! With this much activity, I really should plan to attend a winter FUN sometime in the future.
Collector
Over 100 Positive BST transactions buying and selling with 57 members and counting!
instagram.com/klnumismatics
Great write up, thanks for the post!
Sounds like a great show. I had the same vertigo incident years ago. Room spinning worse then my teenage hangover days. Issue with my ears. Predisone did the trick immediately. Went to allergist and appears I am allergic to everything, jokingly said I needed to live in a bubble. Issue subsided as I got older but need to be careful on those days with high pollen/irritants.
great report and congratulations on your success(s) !!! I am clearly missing out !!
Top 10 Cal Fractional Type Set
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Nice DM! Was nice to meet you, Lermish, Winesteven, and a few others yesterday. I too was blown away by the beehive of activity around the bourse. Hopefully it stays that way for the length of the show. Cheers, karl
Great show report. I have not been to the FUN show since 2004
FrederickCoinClub
Great show report.
Sounds like Dealer day is where the good coins are found and the second tier is available when the show opens.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Cool stuff, great read!
Need some photos of coins though, I would love to see the bust halves or bust dimes!
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
A lot of those good coins are still there, just in different cases with higher prices!
Or packed away for special customers back home
A number of dealers do not put out new coins at the show they bought them at.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Another fun read! It’s nice to hear that there is so much activity!
Great report! I observed that traffic was huge on Thursday and people were buying!
An authorized PCGS dealer, and a contributor to the Red Book.
There was a line for registration about 100 yds long on Thursday late morning, it was crazy!
Great show report. I really enjoyed talking to you and thank you for your advice. Sorry I missed Catbert. Happy to see all the dealers having a very successful show.
Excellent report!
Thank you for taking the time to share, and I'm hopeful you are feeling better. Sucks to travel, must less travel and do business all day for multiple days, when not feeling great.
Appreciate the write-up, without the extras, that you did as well. Kept me glued to the next line, so to speak.
I know what you mean about that one a*hole of a dude. I've "played dealer" a couple of times and have seen the type. Sounds like you are more patient than I am.
Get better soon!
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
@Desert Moon I am going to still call you Hayduke until you tell me to stop. Glad you had a good show, and it was nice catching up with you (albeit briefly). Nice write-up!
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Hayduke Lives! Thanks BG!
Great show report. Thanks for taking the time to share your experience.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
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