HOT Report from the ANA in Baltimore
jadecoin
Posts: 422
I know, I know; this is a very late "update" from the ANA, but we have had a rough show. You may recall that James and I went to Long Beach instead of Baltimore due to a "communications glitch". Once we got out of that mess and finally made our way to Baltimore things went from bad to worse. In fact, I am still in Baltimore, although we managed to get James on a Greyhound just in time for the St. Louis show this weekend. The plan is that he will sell enough coins to wire me money for my bus fare home. I am using the library computer system to write this report.
Here's our take on the show:
The market seemed to be brisk, although not "hot". We were busy from morning until evening every day. We sold more bust type (half dimes, dimes, quarters, halves and dollars) than anything else. Key date bust material was especially hot. For example, we sold our 1801 and 1802 halves for our full asking prices (way, way, way higher than greysheet). Early copper seemed to be in less demand. Colonial sales were average. We managed to purchase several nice coins, including a stunning, fully proof-like 1821 bust half. WOW! That was the best purchase of the show for us. Fully p/l bust halves are scarcer than some would let you believe. This was probably one of the best shows for us so far this year, but that can be attributed, I think, to the ideal location between major metropolitan areas (NY, Philly, Baltimore, Washington, etc.).
The auctions were less than exciting. I did spend several hours going through auction lots and found that most coins, especially the slabs, were overgraded. I was really appalled at the low quality, over-hyped bust dollars. I also looked at some SLQ's for a client and was shocked to see certified MS-66 and MS-67 quarters that had major marks or were dipped. Just could not believe it! We bid on a few items for want lists, but with no success. I went to the auction the night that B&M was auctioning the 1804 dollar. I went to the auction not to bid on coins, but to get a free dinner on the B&M buffet. Needless to say, all of the 1804 dollar "tourists" scarfed-up ALL of the food and did not even leave me a crumb. Thanks! I had to actually buy dinner that night! I started to go into the auction to possibly bid on a few lots in the auction, but the room was packed like a can of sardines with all of the people wanting to be a part of history with the bidding of the 1804 dollar. I left as I am claustrophobic.
Got to see the display of 1913 nickels. That was interesting. As others have said, I would have preferred to have some proper lighting, but beggars can't be choosers. It was neat, but not overly emotional for us. Also had a chance to meet some old friends whom I have not seen in a few years. That was great!
I really wish that I could have attended some of the forum member luncheons, but A) I wasn't invited
and, 
I just didn't have time as our table was very busy. I did however, have the opportunity to meet with several forum members. That was really great. I especially enjoyed meeting with dpoole and srd?? (can't remember his full handle). Let me tell ya....these guys are true collectors and very NICE gentlemen (pleasant and friendly). I met Rob Getty, too. He's building a type set of coins dated 1871 (or 1872???). Really nice to see his collection! I got to meet the CU Forum #1 honcho himself....HRH. I met him while discussing a problem coin at his table (he gave us a free Presidential Review for the coin). I stopped by Legend's table, but they sprayed me with mace and called security. Just kidding. They were nice people. I met many other forum members who stopped by to say hi.
Actually, I didn't get much of a chance to walk the floor as our table was busy. Not in terms of sales, as we probably only sold 30 coins total, but we did discuss coins with many fellow collectors and I did most of the buying while sitting at the table and dealing with walk-up dealers.
I did have a chance to finally walk the floor on Sunday to fill some want lists. This was made possible by the fact that we hired Jeremy (airplanenut) to man the table for an hour or so. I must say that Jeremy is one of the brightest youngsters that I have met in many years. He's probably too smart to be a coin dealer
, but he would make one heck of a dealer if he did choose this field. I am sure that everyone has read his article in the Numismatist, so you know what I mean. How refreshing to see that someone of his age knows to "buy the coin and not the holder". Love it!
That's the good news with Jeremy. The bad news is that I gave him the key to our cases and gave him these simple instructions: if someone wants to buy a coin, just tell them that the price is printed on the label. On certain coins, it's okay to drop the price by 5% +/-. That worked well on a most of the coins, but on extreme rarities we don't put a price on the holder.....its POR or price on request. Someone stopped by and wanted to see our 1879 Stella $4 gold in PR-62. Jeremy showed him the coin and he asked how much. There was not a price on the holder so Jeremy, bless his heart, saw the "$4" printed on the holder and told the buyer "$4, but I can go to $3.80 if you are a serious buyer". Luckily it was the more common flowing hair type of 1879 and only worth $50,000. They guy promptly paid in cash and the rest is history. He got the coin for less than face value. It was our fault for not leaving better instructions, so we paid Jeremy for his time and he went home.
So, now you guys know why I am still in Baltimore and waiting for James to wire me bus fare to get home. I have not heard from James, so if someone on the forum could contact him and tell him to post the St. Louis show results here, I would be much obliged. All in all (except for the Stella thing), the ANA in Baltimore was a very good show. Although, I don't think that we will be doing any more shows until we get organized.
Dennis
Here's our take on the show:
The market seemed to be brisk, although not "hot". We were busy from morning until evening every day. We sold more bust type (half dimes, dimes, quarters, halves and dollars) than anything else. Key date bust material was especially hot. For example, we sold our 1801 and 1802 halves for our full asking prices (way, way, way higher than greysheet). Early copper seemed to be in less demand. Colonial sales were average. We managed to purchase several nice coins, including a stunning, fully proof-like 1821 bust half. WOW! That was the best purchase of the show for us. Fully p/l bust halves are scarcer than some would let you believe. This was probably one of the best shows for us so far this year, but that can be attributed, I think, to the ideal location between major metropolitan areas (NY, Philly, Baltimore, Washington, etc.).
The auctions were less than exciting. I did spend several hours going through auction lots and found that most coins, especially the slabs, were overgraded. I was really appalled at the low quality, over-hyped bust dollars. I also looked at some SLQ's for a client and was shocked to see certified MS-66 and MS-67 quarters that had major marks or were dipped. Just could not believe it! We bid on a few items for want lists, but with no success. I went to the auction the night that B&M was auctioning the 1804 dollar. I went to the auction not to bid on coins, but to get a free dinner on the B&M buffet. Needless to say, all of the 1804 dollar "tourists" scarfed-up ALL of the food and did not even leave me a crumb. Thanks! I had to actually buy dinner that night! I started to go into the auction to possibly bid on a few lots in the auction, but the room was packed like a can of sardines with all of the people wanting to be a part of history with the bidding of the 1804 dollar. I left as I am claustrophobic.
Got to see the display of 1913 nickels. That was interesting. As others have said, I would have preferred to have some proper lighting, but beggars can't be choosers. It was neat, but not overly emotional for us. Also had a chance to meet some old friends whom I have not seen in a few years. That was great!
I really wish that I could have attended some of the forum member luncheons, but A) I wasn't invited
and, I just didn't have time as our table was very busy. I did however, have the opportunity to meet with several forum members. That was really great. I especially enjoyed meeting with dpoole and srd?? (can't remember his full handle). Let me tell ya....these guys are true collectors and very NICE gentlemen (pleasant and friendly). I met Rob Getty, too. He's building a type set of coins dated 1871 (or 1872???). Really nice to see his collection! I got to meet the CU Forum #1 honcho himself....HRH. I met him while discussing a problem coin at his table (he gave us a free Presidential Review for the coin). I stopped by Legend's table, but they sprayed me with mace and called security. Just kidding. They were nice people. I met many other forum members who stopped by to say hi.Actually, I didn't get much of a chance to walk the floor as our table was busy. Not in terms of sales, as we probably only sold 30 coins total, but we did discuss coins with many fellow collectors and I did most of the buying while sitting at the table and dealing with walk-up dealers.
I did have a chance to finally walk the floor on Sunday to fill some want lists. This was made possible by the fact that we hired Jeremy (airplanenut) to man the table for an hour or so. I must say that Jeremy is one of the brightest youngsters that I have met in many years. He's probably too smart to be a coin dealer
, but he would make one heck of a dealer if he did choose this field. I am sure that everyone has read his article in the Numismatist, so you know what I mean. How refreshing to see that someone of his age knows to "buy the coin and not the holder". Love it! That's the good news with Jeremy. The bad news is that I gave him the key to our cases and gave him these simple instructions: if someone wants to buy a coin, just tell them that the price is printed on the label. On certain coins, it's okay to drop the price by 5% +/-. That worked well on a most of the coins, but on extreme rarities we don't put a price on the holder.....its POR or price on request. Someone stopped by and wanted to see our 1879 Stella $4 gold in PR-62. Jeremy showed him the coin and he asked how much. There was not a price on the holder so Jeremy, bless his heart, saw the "$4" printed on the holder and told the buyer "$4, but I can go to $3.80 if you are a serious buyer". Luckily it was the more common flowing hair type of 1879 and only worth $50,000. They guy promptly paid in cash and the rest is history. He got the coin for less than face value. It was our fault for not leaving better instructions, so we paid Jeremy for his time and he went home.
So, now you guys know why I am still in Baltimore and waiting for James to wire me bus fare to get home. I have not heard from James, so if someone on the forum could contact him and tell him to post the St. Louis show results here, I would be much obliged. All in all (except for the Stella thing), the ANA in Baltimore was a very good show. Although, I don't think that we will be doing any more shows until we get organized.
Dennis
0
Comments
Wondercoin
Hmmm. Did you withhold the $49,996.20 from Jeremy's pay check?
Here's a warning parable for coin collectors...
I hope this was one of the funniest put-ons and the longest chain I have seen on this forum in a long time.
Have a good bus trip. I understand it is a very interesting way to travel.
Yeah,right. Like that would happen. You just know the collector would have offered $3.50.
and it sets us apart from practitioners and consultants. Gregor
By the way, I told your joke to some of the ANA staff and they thought it was a riot! After all, they explained to me, there aren't any good hotels in Long Beach! "How about the Queen Mary?" I asked. "Didn't think of that." was the reply.
(Oh, and next time, bring more coins.)
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
<< <i>Jade, next time clue your partner in on your jokes....he looked completely blank when I asked him how the weather was in Long Beach! >>
Fountainhead, you misunderstood. Dennis always has that blank look!
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
LM-ANA3242-CSNS308-MSNS226-ICTA
Jeremy, it's okay. Mistakes happen. Of course, when you start your intern job at Jade Rare Coin next summer, you are going to have to work in the Sacagawea Sorting Department as your punishment!
<< <i>oops
Jeremy, it's okay. Mistakes happen. Of course, when you start your intern job at Jade Rare Coin next summer, you are going to have to work in the Sacagawea Sorting Department as your punishment!
Do I really get a job???
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
Les