Santa Clara show reports:

topstuf · April 4, 2003 12:07PM

Just got back. To me, it didn't seem very exciting. More subdued than last one.
Some dlrs reporting OK show. None seemed REALLY burning up.

Saw many, many, many coins priced at next year's price (if we lucky)
Looked like a lot of guys trying not to sell anything or just checking price resistance.

Any other views?

Coulport · April 4, 2003 12:11PM

I've got two contacts there now.
One is due back tomorrow.
Anything of importance, I'll post it.

gsaguy · April 4, 2003 12:12PM

When dealers say a show is OK, that's not an indication of a very good show. Just MHO.

GSAGUY

topstuf · April 4, 2003 12:15PM

How about if they say it is "Amazingly OK?"

jcping · April 4, 2003 1:03PM

I only stopped by 2 hours around lunch time. I saw more folks there compared to last November Santa Clara show. Indeed, all nice material prices are sky high (50% over bid). I talked to J.Cline about SLQ. He told me that for better date MS64, MS65 non-FH SLQs, e.g., 19-D, 19-S, it is very hard to come by these days.

I also keep my eyes on PCGS table. I did not see many traffic there. May be the current grading issues and turn-around issues got them. (This is only true between 12:30pm to 1:45pm).

freeblue · April 4, 2003 2:16PM

This slow turnaround can't be good for business.

freeblue

Max · April 4, 2003 2:32PM

A slow show should not be a surprise. The Superior auction is awful, what business are they in, jewlery or numismatics? What will they auction next, beanies? I know several dealers who normally fly in and out just for 2 days of auction and they stayed home.

Hassles with airport security, parking and just plain fear have kept many home.

Tales of a "bull" or "hot" coin market are baloney. Unemployment is 6% [I bet everyone knows someone w/o work], 100k jobs lost last month and 300k the month before. Can this be positive for coins or any discretionary item? How many collectors on here have we heard lose their jobs or are selling their collections? COnsumer and corporate debt is at record levels, you cannot recover economically with this bad a situation.

Corporate thieves go unpunished and stock investors stay away, can you blame them as they were rooked out of 40-75% of their savings.

I won't even go into how the war effect will sink the world into a deeper recession. We can thank {fill in the blank} for this avoidable mess.

The silver lining to all of this? Prices will come down, come down alot and for the patient ones we will be able to fill in lots of holes in our collections at bargain prices. I have not bought a coin in almost 9 months, I went through withdrawals but will avoid another 6 mos to buy even lower.

Iwog · April 4, 2003 5:13PM

Just a quick note, a huge bull market in commemoratives occured in 1935 and 1936 during the depths of the Great Depression. A poor economy doesn't always mean people will stop buying coins.

braddick · April 4, 2003 5:24PM

The depths of the Great Depression was in 1935/ 1936?

braddick · April 4, 2003 5:25PM

<< <i>Just a quick note, a huge bull market in commemoratives occured in 1935 and 1936 during the depths of the Great Depression. A poor economy doesn't always mean people will stop buying coins. >>

Regardless, I agree that coin buying will continue in good times and bad.

CarlWohlforth · April 5, 2003 12:11AM

There did seem to be lots of people walking around. Perhaps they weren't buying? It could be the economy. The Silicon Valley has a much larger unemployment rate than the %5.8 of the country as a whole.

Or it could be that people aren't buying because they think prices are too high. I passed on a nice proof Shield nickel because of price.

RKKay · April 5, 2003 1:02AM

I was at the show all day and went to the auction. Don't ask prices unless they're patterns, because I wasn't paying attention until Lot 231. There were very few patterns on the floor, but I picked up a few. At the auction, the pattern prices were strong, as they have been lately.

quattrocoins · April 5, 2003 1:52AM

I was at the show yesterday from 10:00 - 3:00. Being one of the Silicon Valley unemployed, my buying power wasn't what I would have liked it to be. I mostly looked at Mercs, Roosies, Standing Libs, and Washingtons, and they were commanding top dollar (especially nicely toned pieices). I had picked-up Craig(Colorfulcoins) at S.J. airport earlier, and the only coin that I ended-up buying was at the IHOP where we had breakfast (a gorgeous MS67FB '36-S).

It was nice meeting again with Bob Z., John Ruiz, Mike(Coingame), Carl W, and of course Craig. I can say that Carl's '17-D Merc looks even nicer in person.
Also got to chat Washington quarters with John Benbow at Bob Z's table, which I enjoyed very much. A very nice man to chat with. His old MS67 '43-P is now one of the jewels of my set.

I might take a ride over tomorrow to see what's left over and if any deals are to be had.

Don

rkfish · April 5, 2003 2:18AM

Larry and I were at the show all day.......
The crowd started out a bit slow but grew larger as the day went on. The auction was not much for dollars as we went through it in less than an hour when usually we spend 4-6 hours going through the lots.

The bourse was very busy for the dollar dealers after lunch until closing. The ones we know talked like they were having a good show. For Larry and I, the last two Santa Clara shows have been good for buying.......material, not prices.

We have picked up some very nice dollars, pl's and dmpl's. Pl's and DMPL's are still commanding premiums and this trend is continuing. Nice Peace dollars, so far, are no where to be found. We have not bought one!

Hope to see of you guys there!

More later.......

jcping · April 5, 2003 2:44PM

Any update?

Mikey · April 6, 2003 9:19AM

This was the first and last time I go to a show on the last day. I showed up with an hour and a half left. About 80% of the dealers had left. Fortunately, I found a badge in a trash can, so I didn't pay the $4 admission.

The US Mint was there and I picked up 3 clad state quarter proof sets for 2003. No California sales tax either.

Even Carol was gone.

Strat · April 7, 2003 4:37PM

This show was slower than past Santa Clara Shows, and there were definite factors going against it. Specifically, increased table fees, tax time, the war and high unemployment in the area all contributed to a slower than normal show. However, I did well. The pace was slow, but sales were steady and when it was all over, I had enjoyed my highest volume Santa Clara ever. A variety of coins were selling, not just any one series. Met with several board members, including CarlWohlforth, PQPeace, RKfish, Stman, Quattrocoins, Kieferscoins, Toningintheblood. All in all, it was a decent show, but I did notice many dealer's weren't enthused.

NumisEd · April 7, 2003 7:40PM

all nice material prices are sky high (50% over bid).

Why do people expect to purchase "nice material" at wholesale prices?? Why do collectors feel that we need to purchase the GreySheet? I, for one, do not mind paying over Red Book prices for nice, original coins. I have never tried to pull a Greysheet out on a dealer. I would be a fool to do so, since I usually only purchase one or two coins from each dealer. It says right on the Greysheet that the prices stated are Dealer-to-Dealer transactions only and that "you should expect to pay a premium above Ask prices in retail transactions". I use the Greysheet as a guide only. If we as collectors are using the Greysheet to buy coins, then what in the he11 are dealers using to buy coins? If we choke the dealers too much, then the good (smart) ones are going to leave the business and we will be stuck with the bad (stupid) ones.

anoldgoat · April 8, 2003 2:51AM

Went in Saturday mid day, had to make the rounds three times to get to most the tables, looks like i wasn't the only one looking for Lincolns. Found two dealers who graded early VF Lincolns according to red book and bought four coins from them. Had to look through many "VF" coins with corrosion, dings, weak strikes and just plain over grading.

Got some nice coins though

Gristlebeard · April 8, 2003 3:59AM

I was there Saturday 10-11. Picked up 3 nice coins from the Isle of Man and a couple of other odds and ends. Spent a total of $25. Unfortunately I did not find any US coins that could fit my budget.

Cheers
G

BNE · April 8, 2003 9:21AM

I was there with my kids on Saturday, 12-3. They did the "treasure hunt" thing. I bought a super PCGS MS65 1913-D Type 1 Buff that was orange and violet (now cracked out and in my book) and a 1914 Buff that is heavy pink, aqua, light green and yellow. Not sure if that one is live, or if it's Memorex, but it has a super look, was not that expensive, and I like it. Both of these coins will replace less-toned examples in my toned Buff set.

Also stopped by J. Cline's table and ogled the gorgeous SLQs. I think I've "grown up" to where I can finally appreciate that coin, and I've bought a "study piece" while I contemplate whether or not this might be the next set (unslabbed) I work on.

It was busy, but not crazy. Plenty of sub-par material (at least for what I was looking for) and plenty of overpriced stuff, too. I was just glad to walk away with two nice newps.

ScarsdaleCoin · April 8, 2003 9:35AM

Why do people expect to purchase "nice material" at wholesale prices?? Why do collectors feel that we need to purchase the GreySheet? I, for one, do not mind paying over Red Book prices for nice, original coins. I have never tried to pull a Greysheet out on a dealer. I would be a fool to do so, since I usually only purchase one or two coins from each dealer. It says right on the Greysheet that the prices stated are Dealer-to-Dealer transactions only and that "you should expect to pay a premium above Ask prices in retail transactions". I use the Greysheet as a guide only. If we as collectors are using the Greysheet to buy coins, then what in the he11 are dealers using to buy coins? If we choke the dealers too much, then the good (smart) ones are going to leave the business and we will be stuck with the bad (stupid) ones.

Text

Nicest/Smartest comment I have read in a long time!

tradedollarnut · April 8, 2003 10:06AM

If we choke the dealers too much, then the good (smart) ones are going to leave the business and we will be stuck with the bad (stupid) ones.

Oops... too late!

Bwahahahahahahaha!!!!!!!!!!!!!!!!!!!!!!! [couldn't resist!]

Santa Clara show reports:

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