Santa Clara show

topstuf · November 17, 2005 2:26PM

Finally back. Long day. Dealers I spoke to were doing well. Good attendance and activity very good.
As I say, the dealers I spoke with were very satisfied and many were trying to unbury themselves from deals that still needed organizing after purchase.
Met Mark Feld and WTCG there.
Gold up the ying yang. Looked to be about half the total mintage of twenties on the tables. Well, maybe not quite that many, but very prevalent. I was doing mostly housekeeping (crossovers, delivery, and submissions.) Didn't buy anything new. Not that it wasn't there, just that I wouldn't step up to the exuberant pricing in many cases. I looked at quite a few of one of my pets, seated dollars, and if I had been in a buying mode (and less hesitant to ...stretch) I could have filled a few cups full.
Saw lots of deals going on and would call the show "active."

Very educational. Among the things I learned today:

Mark Feld is a great guy. Generous with information, advice, assistance, and personality.
WTCG is also one of the good guys.

Also learned:
"Sheet and a half" is current price if someone sorta leans toward wanting to maybe sell a coin.
"Double sheet" is not a rare asking price. At least today.
The guys I used to know (and knew me) are fewer and more likely to be out of shops now and doing shows and sorta semi retiring. Although Gene Henry is still pure adrenaline.

And:
It now takes 3 hours instead of 2 to get from Sacramento to Santa Clara
And it takes 4 and a half to get home.
In-N-Out Burgers is hiring at $9.25
Seven lanes will not get you through Dublin at more than 5 MPH.
The atmosphere of Tracy is now 87% dust.
You ...CAN... get 7 million trucks on I-580 and I-680 simultaneously.
I'm getting old and tire much quicker.

Now I'm goin ta bed.

skerke · November 17, 2005 2:29PM

When you sat double sheet do you mean if the grey ask is $10 then they will ask for $20?

topstuf · November 17, 2005 2:33PM

I was looking at more pricey stuff, but yeh, that was what I was hearing. Let me qualify by stating that I noticed that I am no longer recognized by everybody and may have resembled a carp.

While talking to Mark Feld, I think some Feld dust settled on me and the dealers who were close enough to see us together were a bit more....reasonable. But after the Feld dust evaporated, it was back to being a carp again.

Edited to add that I was looking at nice coins, but not quite as nice as the price. To ME.....

All this is applicable to MY experience and doesn't mean the entire inventory was going the same way.

DennisH · November 17, 2005 2:47PM

Enjoyed your very personable and observant report. Thank you!

jcping · November 17, 2005 2:56PM

I arrived the show about 4pm. I did not see too many folks there. I did see lots of dealer-to-dealer transactions. Many dealers told me that good wholesale business but not too much retail business today.

Again, most coins I saw are Morgans and Double Eagles. Surprisely, I saw 30 to 40 pieces of Seated Dollars between AU58 and MS62 grades. Pre-1800 AU or better silver coins are virtually non-existed in the show (except a few Bust Dollars).

I did see a 4-piece Stella set (1879-1880 4$) gold coins in Superior's table. They are nice. 3 out of 4 are PR65 or better.

I did not go to the auction. I bet the price will go to the roof tonight since not many coins to buy on the floor.

WTCG · November 17, 2005 4:52PM

I was at the Santa Clara show during setup yesterday and for most of the day Thursday. Attendance wasn't that great but it seemed better than the last Santa Clara in last July. I expect attendance to be much better for Friday. I was ill yesterday and slightly so on Thursday, so that may have hindered my judgement at times.

Spot price for gold has increased lately, but many dealers don't seem to want to sell their gold at this time.

There is an obvious lack of new and fresh material available for purchase. More apparent this time than ever before at Santa Clara.

On the bright side, I sold almost $35,000 worth of slabbed common date Carson City Morgan Dollars over the course of a day and a half.

On-site grading was extremely tight. My success rate was way below my average compared to other shows. One of the best graders of gold had one entire submission returned to him with every single coin downgraded.

Just for topstuf:

2 hours from Sacramento to Santa Clara can happen if you make the drive at 7am on Saturday mornings.
4 1/2 hours to get home is the sad reality. It once took me 2 1/2 hours on a Friday afternoon to go from the Benicia Bridge to the I680/I80 merger, a distance of about 22 miles or so.
I have another business in Mountain View, CA and we pay at least $10.00 per hour for daytime shifts.
Through Dublin at 5 mph? A dream during rush hour.
Tracy is notorious for bad traffic.
Trucks are slow, aren't they? I know on the map I580/I5 seems faster, but I680/I80 is still always faster going towards Sacramento.
It's definitely worth staying at a hotel if you live in the Sacramento area and you're planning to attend the Santa Clara show for more than one day.

WTCG · November 18, 2005 2:02AM

Anybody else care to share their observations?

eyoung429 · November 18, 2005 2:42AM

Will give an update when I get to go tomorrow.....sucks working for a living and having to pick over sloppy seconds at the coin show after 2days running.....

Longacre · November 18, 2005 2:46AM

<< <i>On-site grading was extremely tight. >>

This comment, which I read often, still mystifies me.

jcping · November 18, 2005 11:05AM

Went back to the show today and bought the only coin that caught my eyes within my budget, the 1869 2 cents PCGS MS65RB. Very nice and original surface.

> There is an obvious lack of new and fresh material available for purchase.

Definitely a true statement.

> Will give an update when I get to go tomorrow

Some dealers start leaving now..... you will see empty tables tomorrow.

Cladiator · November 18, 2005 11:16AM

It's my opinion that the large coin shows that run 4-5 days long should open on a Saturday and continue into the next week instead of the other way around. Then actual collectors would have a shot to get the nice coins. After all, without collectors there would be no coin industry.

Bear · November 18, 2005 11:37AM

Their is a feeling that the following is happening.

The graders grade the coins as they always do, then from time to time, deduct

a 1/4 point to 1/2 point from the grade. Cant prove it, just a feeling.

dizzyfoxx · November 18, 2005 11:49AM

I'll be there tomorrow... report to follow

WTCG · November 18, 2005 3:23PM

<< <i>

<< <i>On-site grading was extremely tight. >>

This comment, which I read often, still mystifies me. >>

There have been a few shows in the past where on-site grading was extremely loose. One example was the ANA WFM in Pittsburgh last year.

On-site grading was marginally more generous on Friday than it was on Thursday.

stman · November 18, 2005 3:34PM

So no "Gifts" = tight? OK, I think I got it now. Heh

WTCG · November 18, 2005 4:18PM

When you submit a coin for on-site grading at a show and it grades the way it does, then you take that same coin and resubmit it to the same grading company two days later and it grades two points higher than it did at the show, then that is evidence of tight on-site grading. The preceding scenario happens very often.

Santa Clara show

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