Very quiet tonight - Santa Clara reports?

kieferscoins · November 20, 2003 2:04PM

No word from any of the dealers or people. Is it going to be a good show?

Cameron Kiefer

Tonelover · November 20, 2003 2:07PM

Cameron, the market's hot. That's all you need to know.

kieferscoins · November 20, 2003 2:09PM

Ok. I will go along with the crowd and take a weekly press release as the gospel. Sample slabs are hot also. I just sold one on ebay for $3 and another has a quarter inside with a bid of $0.01!

Cameron Kiefer

jcping · November 20, 2003 2:11PM

Show won't be opened to public until tomorrow 10am PDT. I was there today to view the auction lots. I saw many dealer to dealer transactions. The market looks hot to me.

Lakesammman · November 20, 2003 2:12PM

Here's my report - bags packed, will be there tomorrow and Saturday.

stman · November 20, 2003 2:15PM

I'll be there in the morning. I'll be wearing blue Levis. Please stop and say hello.

coinlieutenant · November 20, 2003 2:21PM

Was there today...

Met Rick Kay and Mark Feld for the first time. Two stand up classy guys.

Didnt buy anything but was there to sell, not buy...
Unfortunately didnt sell anything either. Had some nice stuff to sell but everyone wanted to pay greysheet or blue on the stuff. Other dealers kept saying that my inventory was stunning but their quotes did not reflect it.

Look for the remaining six coins in the collection to be on the BST forum come Monday...at reduced prices unfortunatley...

Had one major dealer quote me 2000 dollars on a PCGS MS66 1885 quarter that is an absolutely awesome coin. Grey in 65 in 2000$.

He tried to play dumb like he didnt know that it wasnt a tough date...

As far as IF I were buying.... didnt see anything too extravagant there. Laura had some amazing proof gold and some patterns that just made you stare in awe...

The most action that I had all day is when I submitted my icon coin for reholdering at NGC....
Oh well, I will be at it again tomorrow and look forward to seeing everyone there at the PCGS tables at 1200!!!

John

stman · November 20, 2003 2:27PM

I thought it was a hot market? Maybe only when they are selling huh?

coinlieutenant · November 20, 2003 2:34PM

Stman,

sometimes I wonder... I dont mind paying strong money for coins. Perhaps I paid too strong, who knows...

Seriously thinking about consigning the coins to a strong auction....
These coins are going for strong prices at auction....
maybe I should try my luck there...

John

stman · November 20, 2003 2:38PM

If it were me, and I wasn't in a hurry for the money I would just try and find the right collector to sell them to. One who appreciates the coins as much as you do.

coinlieutenant · November 20, 2003 2:42PM

Stman,

I think that is very sound advice...

I would much rather place stuff with collectors on the board than dealers any day. I dont need the money but am anxious to start buying, like this that Evan Gale had for sale today... Wow...

RKKay · November 20, 2003 3:12PM

My very quick report:

Coinlieutenant, John Marburger, picked me up at the airport, hung out a bit and introduced me to a few honest dealers (a true rarity). He then drove me back to the airport. Thanks a Schoolgirl.

Mark Feld sat next to me while I viewed auction lots. He graciously gave his opinion of several coins. Thanks, Mark.

NJcoincrank and I exchanged a few choice words.

Thanks for the entertainment.

The show was a bit slow, but very enjoyable. The funniest exchange was a dealer who tried to sell me a pattern:

Me: "How much are you asking?"

Dealer: "$3900"

Me, as I get up to go: "Thanks"

Dealer: "You can have it for $3700"

Me: "No thanks" (because it's worth $2000)

Dealer: "Patterns are very hot right now"

Me, trying not to laugh : "I know"

coinlieutenant · November 20, 2003 3:27PM

I was there to hear the exchange that Rick just explained. It was rather humorous....

John

kieferscoins · November 21, 2003 12:38AM

TTT. I look forward to more reports. See everyone there tommorrow.

Cameron Kiefer

coinguy1 · November 21, 2003 12:45AM

The show was MUCH busier and more crowded yesterday, than it typically is on set-up day. As has been the case for quite some time, it was considerably easier to sell nice material, than it was to acquire it.

More later - tonight or tomorrow morning.

PS - I'm not saying that the market is the dreaded H (hot) word - simply that it is active and healthy.

Byers · November 21, 2003 1:42AM

I have a table there, and it was a pleasure to say hi to Mark and Rick.

kieferscoins · November 21, 2003 8:19AM

Everyone must still be at the show. I don't blame them.

Cameron Kiefer

CarlWohlforth · November 21, 2003 9:30AM

I had a good time socializing and looking at coins. Some coins are harder to find than others. If you are looking for Morgans then they were there. I did find one coin I want but all the neat coins seemed pricey to me at way over gray sheet. I guess I'm used to looking at eBay prices

I'll be back tomorrow and hope to attend the auction a bit.

It was good seeing the regulars and meeting some new forum members.

kieferscoins · November 21, 2003 11:02AM

How many PCGS members met up at 12:00?

Cameron Kiefer

coinkat · November 21, 2003 11:24AM

coinlieutenant:

Don't even bother offering a coin like that to a dealer... consign it to one of the major Auctions. It makes selling alittle easier.

coinlieutenant · November 21, 2003 11:51AM

What a difference a day makes!!!

While yesterday was a bit discouraging, today was anything but...

Got there at around 9 oclock and went to see some tables that were not at the early set up the day before. Saw some nice coins, with high pricetags but that is to be expected.

Sold three coins and didnt lose any money, which is always nice

and met some new forum members. Only four of us showed up, Carl Wohlforth, jcping and quattro coin. All very nice guys. We showed each other some coins over at a side table which is always fun.

JC is MUCH older than he appears so dont let him fool you

... I will let him tell you if he wants...
I also found out how old Carl and quattro were but I will definately let them tell you!!!

I must express my sincere thank you to Mark Feld and Scott at Pinnacle. Mark looked thru my coins and gave me his opinions. All solid and nice for the grade save for one which he felt should upgrade. He also explained to me his thought process when purchasing coins. Got some grading tips and tried to learn as much as I possibly could in the twenty minutes that he spent with me. He also gave me some selling tips and a look into the mind of a dealer. Mark was very patient and pleasant and is a very very good teacher I can tell. Would probably pay to rent him for a week at a major show....seriously...

That set up the day as it reinstilled some faith in the business that I would like to eventually become a part of. As I mentioned to someone earlier via PM, some dealers (like Mark) like to see new blood come into the business from time to time, others see a newb like me and SMELL blood...

It is quite a contrast. Knowing who you can trust is half the battle. I imagine that Pinnacle will be getting more of my business, especially now that I know Mark, and Doug winter is joining the team...

I am picky about my coins and saw a few that I would have loved, but only a very few...Most dealer are asking big money for nice coins, and a very few are paying big money. One dealers table I have bought from in the past paid 6000 for PF65 Barber Half....at least that is what he told me...

Still have five more coins to sell from the collection...and hope some will go tomorrow...

Will keep you all posted.

V.r,
John

jcping · November 21, 2003 3:56PM

Only we four of us, coinlieutenant, Carl Wohlforth, jcping and quattrocoin, showed up next to PCGS booth at noon. We have a little show and tell. I bought the 1885 super nice PCGS MS66 quarter from coinlieutenant. This is the only one coin that I bought in the show!!! except some previous ordered coins.

Indeed, there are some very nice high power coins in the show and they all are very expensive. The PCGS MS68 seated half in Legend's case is a mind blower.

Generally speaking, the coin price is high in the show. I believe dealers' expectation is very high (or they all believe market is very hot).

I also attended the superior auction (the Friday afternoon section). Many coins opened at a very strong price (over Superior highend estimation). Any time, there is an ebay bidder came in to bid, 98% time, they won the lot. I only saw 2 cases they were outbid by floor-bidder(s). I was only interested in two lots and they all went over grey sheet ask by at least 10%. With 15% juice, it is over 25% grey sheet ask. I got nothing from the auction ;-(

In short, the show is much better than 3 years ago. I could see that it is getting better and better and it could be an important national show in a few years.

jcping · November 21, 2003 4:00PM

BTW, PCGS gave away free sample slabbed coins. They all are New York state quarters. I pick up two from PCGS table

coinguy1 · November 22, 2003 12:32PM

Just a brief update, as I had said I would do :

The show remained busy for us, pretty much from set-up on Thursday, until I left, late this morning. We sold approximately twice as much as we bought - that is ok to do from time to time, but, if we make a habit of it, our inventory will get frighteningly low!

The relatively small quantity of coins I bid on in the Superior sale went for big money.

I had the pleasure to meet a few more forum members for the first time - in alphabetical order :

Cardinal, who was kind enough to let me view some of his wonderful coins and with whom I had a couple of very enjoyable conversations;

CarlWohlforth, who, as expected was a gentleman and an all-around good guy;

Coinlieutenant/John, who was as pleasant and enthusiastic in person, as he is on the forum and who was much younger than I had thought, based on his informed and mature posts here. His coins were quite pleasant, too

;

Jcpng, who showed me some very nice coins and who was a great sport, when I graded a couple of them too low

;

Quatrocoins, who didn't show me any coins, but, who was a nice guy, just the same

.

My apologies if I omitted any names.

I also visited with a few other guys who I had met previously.

Doing the "non-presidential reviews" was enjoyable and, in the instances when I did them with the grades covered up, I quickly came to an interesting realization - it was extremely difficult to give completely objective / unbiased opinions.

On one hand, I was worried that I might make someone feel bad if my grades were low. And, on the other hand, I was concerned that I might give someone false hope if my grades were too high. Still, I gave it my best shot and, with two (glaring) exceptions, I think my grades were either identical to or one point different from the current ones.

stman · November 22, 2003 12:51PM

Hey Coinguy1.... remember the CC Morgan DMPL with the crescent I showed you just for the heck of it? Then you gave an unsolicited "Presidential review? You felt it looked good enough to be in a 66 holder.

Well, I don't play that game, and even though you said nothing about this.... I DIPPED it and am sending it in for upgrade

Thanks for the opinion.... I just know it's a slam dunk now.

coinguy1 · November 22, 2003 1:02PM

stman - you are a very bad boy if you did that. But, I know better.

Very quiet tonight - Santa Clara reports?

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