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Central States Show Report (CSNS): PNG Day, Thursday AM, 5/5
RYK
Posts: 35,801 ✭✭✭✭✭
Today was PNG Day at the Central States show (and also my ninth anniversary 
). I dropped my son off at school and headed downtown to the convention center for the show.
First stop, Heritage auction lot viewing. In one word:
I viewed the $3's, the New Orleans and Dahlonega $5's, and the New Orleans $10's. Not one of the Dahlonega coins was worth looking at with a loupe. Of the New Orleans coins, there were two that were worthy of further action (results later). I spoke with trusted dealers, and they concurred. As a whole, the Heritage auction coins were not very good.
To the bourse. This was my first PNG Day. Only PNG members are set up and the rest of the attendees are "guests" of PNG members. It is small, less hectic, more relaxed bourse, with primarily high-profile dealers and auction companies set up. My first stop was to check in with Doug Winter at Pinnacle. We discussed auction lots of interest, and I showed him a few coins, and he showed me some coins. A coin that has been inventory for a bit was the ex-Reece 45-O $5 PCGS AU-58. It was phenomenal! I am considering trading my coin up for it. It is unusual to see any NO gold coin with such pristine surfaces. DW showed me a few newps and we chatted a bit.
Next, I ran right into Mark Feld, who might be the nicest guy in coins (and as far as I am concerned, there are some very nice people in coins). We sat and talked and completed a very small deal. If ever you have the chance to meet Mark and he is not harried, it is well worth the time spent. He is such a super nice guy. I could go on and on gushing about Mark... We were chatting at the ANR table, where he was "consulting"--whatever that is. Two tables over was the Legend table...
I walked over and said "Hello" to Laura and George. Both of them, as usual, were quite friendly, and we chatted some about coins, St. Louis, air travel, and tackling ferrets. While we were talking, a dealer came over to ask Laura something, and she chased him away, in order to not interrupt our conversation (he must have been a "wannabe"
). We did a small trade which resulted in me getting two nice, very original choice AU $3's. I tried to help her sell the 55-S $3 in their inventory to a potential buyer, by namedropping that it was from the Dallas Bank Collection, and she gave me a hard time about it by comparing me to TDN--the ultimate collector compliment 
.
I stopped by to meet Andy (MrEureka) and to thank him for the book he gave me--the Akers book on gold patterns. I wandered back over to the ANR table to look at SS Republic gold coins in their upcoming auction--wow, do they look nice! I had an opportunity to at least glance at all of the tables set up. There was a lot of rare date, proof, early, territorial, and generic gold around, though less generic than I typically see at a show, probably because of the nature of the dealers present. There was about a 4:1 ratio of Charlotte: Dahlonega gold on the floor, and fewer New Orleans $5's than either Dahlonega or Charlotte. Most of the branch mint coins were processed--unattractively shiny. Someday, maybe soon, there really will be a premium for original gold that supercedes the number on the holder.
One of the cool things about going to a show like this, particularly where the dealers are active, is that you hear a lot of snippets of conversations that give you an idea about what goes on behind the scenes in the coin biz. I met one dealer, who knows me from here because he is a lurker (kinda spooky) who has 1200 or so coins in for grading. I heard another dealer talkig about a four coin submission strategy, with some very expensive coins, to make sure all received the highest possible grades. You hear a lot of interesting stuff, and a lot of things you would rather not know.
As for whether the show was hot or cold, I think it was hard to tell. The PNG Day format is somewhat artificial, as not all potential buyers and sellers are present. I got the sense that business was being done, but it seemed slow to me. A lot of coins were apparently still being graded, which tends to dampen activity some.
Overall, I had an educational and enjoyable time, and I am looking forward to returning tomorrow for the regular show (or as those of us that are tight with the PNG call it, "Wannabe Day" ).
). I dropped my son off at school and headed downtown to the convention center for the show.First stop, Heritage auction lot viewing. In one word:
I viewed the $3's, the New Orleans and Dahlonega $5's, and the New Orleans $10's. Not one of the Dahlonega coins was worth looking at with a loupe. Of the New Orleans coins, there were two that were worthy of further action (results later). I spoke with trusted dealers, and they concurred. As a whole, the Heritage auction coins were not very good.To the bourse. This was my first PNG Day. Only PNG members are set up and the rest of the attendees are "guests" of PNG members. It is small, less hectic, more relaxed bourse, with primarily high-profile dealers and auction companies set up. My first stop was to check in with Doug Winter at Pinnacle. We discussed auction lots of interest, and I showed him a few coins, and he showed me some coins. A coin that has been inventory for a bit was the ex-Reece 45-O $5 PCGS AU-58. It was phenomenal! I am considering trading my coin up for it. It is unusual to see any NO gold coin with such pristine surfaces. DW showed me a few newps and we chatted a bit.
Next, I ran right into Mark Feld, who might be the nicest guy in coins (and as far as I am concerned, there are some very nice people in coins). We sat and talked and completed a very small deal. If ever you have the chance to meet Mark and he is not harried, it is well worth the time spent. He is such a super nice guy. I could go on and on gushing about Mark... We were chatting at the ANR table, where he was "consulting"--whatever that is. Two tables over was the Legend table...
I walked over and said "Hello" to Laura and George. Both of them, as usual, were quite friendly, and we chatted some about coins, St. Louis, air travel, and tackling ferrets. While we were talking, a dealer came over to ask Laura something, and she chased him away, in order to not interrupt our conversation (he must have been a "wannabe"
). We did a small trade which resulted in me getting two nice, very original choice AU $3's. I tried to help her sell the 55-S $3 in their inventory to a potential buyer, by namedropping that it was from the Dallas Bank Collection, and she gave me a hard time about it by comparing me to TDN--the ultimate collector compliment .I stopped by to meet Andy (MrEureka) and to thank him for the book he gave me--the Akers book on gold patterns. I wandered back over to the ANR table to look at SS Republic gold coins in their upcoming auction--wow, do they look nice! I had an opportunity to at least glance at all of the tables set up. There was a lot of rare date, proof, early, territorial, and generic gold around, though less generic than I typically see at a show, probably because of the nature of the dealers present. There was about a 4:1 ratio of Charlotte: Dahlonega gold on the floor, and fewer New Orleans $5's than either Dahlonega or Charlotte. Most of the branch mint coins were processed--unattractively shiny. Someday, maybe soon, there really will be a premium for original gold that supercedes the number on the holder.
One of the cool things about going to a show like this, particularly where the dealers are active, is that you hear a lot of snippets of conversations that give you an idea about what goes on behind the scenes in the coin biz. I met one dealer, who knows me from here because he is a lurker (kinda spooky) who has 1200 or so coins in for grading. I heard another dealer talkig about a four coin submission strategy, with some very expensive coins, to make sure all received the highest possible grades. You hear a lot of interesting stuff, and a lot of things you would rather not know.
As for whether the show was hot or cold, I think it was hard to tell. The PNG Day format is somewhat artificial, as not all potential buyers and sellers are present. I got the sense that business was being done, but it seemed slow to me. A lot of coins were apparently still being graded, which tends to dampen activity some.
Overall, I had an educational and enjoyable time, and I am looking forward to returning tomorrow for the regular show (or as those of us that are tight with the PNG call it, "Wannabe Day"
). 0
Comments
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
And yes, it is fun to get a nice chat with Sir Feldoni
While I was talking to Doug Winter, an elderly man and his wife stopped by the table and asked DW if he would show them the sole Jeff nickel in their case: a 1938 PCGS-66 FS. He then went on to ask if he had a proof one, wanted to know if he had any raw Jeff nickels, etc. It was quite amusing watching DW have to politey and graciously tell the couple that they generally carried "older coins".
<< <i> they generally carried "older coins". >>
Moderns... the horror!!
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
I wanted to beat Russ to the punch.
Very enjoyable posting.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
You are probably correct, but I prefer the term "coin geek".
I did not see any speared bison for sale.
But,
Do we now have to have a poll on whether the "official" definition of a "wannabee" is "someone who is not 'tight' with the PNG"?
and, does anyone else find it 'icky' that you and TDN are sucking up to each other?
Check out the Southern Gold Society
The Ludlow Brilliant Collection (1938-64)
<< <i>There was about a 4:1 ratio of Charlotte: Dahlonega gold on the floor, and fewer New Orleans $5's than either Dahlonega or Charlotte. Most of the branch mint coins were processed--unattractively shiny. Someday, maybe soon, there really will be a premium for original gold that supercedes the number on the holder. >>
That pretty much sums up the current market in Southern Gold. The true enthusiasts have the original pieces so locked up very few will see the light of day anytime soon. It is a real shame that the TPG's continue to reward the ruining of the coins we cherish. But "Someday, maybe soon............".
I can assure you that I am the only one sucking up.
Do we now have to have a poll on whether the "official" definition of a "wannabee" is "someone who is not 'tight' with the PNG"?
Next week, when the full roster is back, we should consider it.
au contraire! Any man that appreciates his gold original and untouched by NCS is a man I can admire!
J
siliconvalleycoins.com
<< <i>I heard another dealer talkig about a four coin submission strategy >>
so...what's the strategy?
Here's a warning parable for coin collectors...