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RYK's Brief SLNA St. Louis Show Report, Feb 9, 2007
RYK
Posts: 35,796 ✭✭✭✭✭
I spend a couple hours mid-day at the SLNA show at the St. Louis Airport Hilton. I knew that we were off to a rocky start when the parking lot was full, and visitors were directed to park down the airport access road. (WTCG was pretty miffed about this!)
I finally made it into the show about 11 AM, and the room, with all 110 tables, was packed. It was, at times, impassable in the aisles. The SilverTowne table was lined up three or four deep with people showing the four dealers their coins. There was more than a buzz; it was like being at Busch Stadium for the Cubs series. I have never seen the place so busy. Coins and money were changing hands like never before seen.
I have also never seen as much better date gold at this show. I nearly got burned (see below) on a coin and ended up not buying any gold. I did buy a lovely 1808 12 starts VG classic head large cent for my 7070 album (sorry, no pics) from Tom Reynolds. I have always enjoyed his displays, with all the chocolate brown coins sitting on yellow envelopes and finally bought a coin from him (I wish that I bought a Chain cent from him when I first met him about 10 years ago! I digress.) Tom took my ex-Mirabela classic head cent on the trade and even gave me $75 for that pig. (I guess there was a healthy cushion in the coin that I bought from him
)
I also spent a fair amount of time with James, Dennis, and Dennis at the Early US table. I always show my 7070 to James, and he usually shows me his latest projects. Today, he was way too busy. I hope to catch him on Sunday. Everyone was very impressed with my new Shield nickel (ex-IGWT), and James bought my old XF from me at a fair price.
Among the rare date gold coins, I saw an 1850-D $5 PCGS AU-55 at an older gentleman's table. He was not a national dealer, just your average "weekend warrior". For background, it is my opinion that the 50-D $5 is the hardest date in the series to find nice. Frankly, even though I have an acceptable coin, I have never seen one that I really, really like. For one thing, it is among the most scarce dates, trailing two or three others. There are also strike issues, weak mint marks, and, for some reason, a lot of processed coins, etc. The coin in his his case had a nice strike and a nice orange-gold color. I looked at it twice. His price was retail and firm. I made an emergency call to Doug Winter, who after a lengthy discussion of options, remembered that he had a trusted dealer friend at the show and suggested that I ask his friend to look at the coin for me. The dealer is not someone I have met before, but someone who has a very good reputation and, I believe, primarily does wholesale. I introduced myself, retrieved the coin, and he gave it a look. He told me that while the coin looks nice, the coin had been cleaned and recolored to look nice and that I should pass. I thanked him and passed on the coin.
I did not buy any coins and did sell some bullion, so I used some of my surplus to buy some books from Orville Grady. Four books, in fact.
That's all for now.
I finally made it into the show about 11 AM, and the room, with all 110 tables, was packed. It was, at times, impassable in the aisles. The SilverTowne table was lined up three or four deep with people showing the four dealers their coins. There was more than a buzz; it was like being at Busch Stadium for the Cubs series. I have never seen the place so busy. Coins and money were changing hands like never before seen.
I have also never seen as much better date gold at this show. I nearly got burned (see below) on a coin and ended up not buying any gold. I did buy a lovely 1808 12 starts VG classic head large cent for my 7070 album (sorry, no pics) from Tom Reynolds. I have always enjoyed his displays, with all the chocolate brown coins sitting on yellow envelopes and finally bought a coin from him (I wish that I bought a Chain cent from him when I first met him about 10 years ago! I digress.) Tom took my ex-Mirabela classic head cent on the trade and even gave me $75 for that pig. (I guess there was a healthy cushion in the coin that I bought from him
)I also spent a fair amount of time with James, Dennis, and Dennis at the Early US table. I always show my 7070 to James, and he usually shows me his latest projects. Today, he was way too busy. I hope to catch him on Sunday. Everyone was very impressed with my new Shield nickel (ex-IGWT), and James bought my old XF from me at a fair price.
Among the rare date gold coins, I saw an 1850-D $5 PCGS AU-55 at an older gentleman's table. He was not a national dealer, just your average "weekend warrior". For background, it is my opinion that the 50-D $5 is the hardest date in the series to find nice. Frankly, even though I have an acceptable coin, I have never seen one that I really, really like. For one thing, it is among the most scarce dates, trailing two or three others. There are also strike issues, weak mint marks, and, for some reason, a lot of processed coins, etc. The coin in his his case had a nice strike and a nice orange-gold color. I looked at it twice. His price was retail and firm. I made an emergency call to Doug Winter, who after a lengthy discussion of options, remembered that he had a trusted dealer friend at the show and suggested that I ask his friend to look at the coin for me. The dealer is not someone I have met before, but someone who has a very good reputation and, I believe, primarily does wholesale. I introduced myself, retrieved the coin, and he gave it a look. He told me that while the coin looks nice, the coin had been cleaned and recolored to look nice and that I should pass. I thanked him and passed on the coin.
I did not buy any coins and did sell some bullion, so I used some of my surplus to buy some books from Orville Grady. Four books, in fact.
That's all for now.
0
Comments
<< <i>Tom took my ex-Mirabela classic head cent on the trade and even gave me $75 for that pig >>
OMG!
The horror! The horror!
Maybe he had a want list to fill. Someone needed the rare "advanced carcinoma" variety.
<< <i>Tom took my ex-Mirabela classic head cent on the trade and even gave me $75 for that pig >>
OMG!
The horror! The horror!
Maybe he had a want list to fill. Someone needed the rare "advanced carcinoma" variety. >>
I just checked my PM archives. I made $7 on that coin!
I give away money. I collect money.
I don’t love money . I do love the Lord God.
(Gee, it sounds a lot like the Parsippany shows!
Check out the Southern Gold Society
The live reports via phone are much more exciting.
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>RYK, could you see the cleaning under the "color"????? I know it can be tougher at shows is why I ask. I like the comfort of my chair and MY light myself.
I cannot honestly say that I did not. The dealer who gave me the second opinion was busy and nice enough to do so, and I did not want to pepper him with questions. My guess is that if you look at the coin at an angle in the right light you might see the cleaning on the surface, but frankly, I would probably miss it again. I better stick to XF when I buy on my own--they are less likely to be messed with and less downside if they are.
I agree that lighting at shows is always suboptimal, and I am much more comfortable buying a coin from home, spending as much time as I need with it before making a decision, etc.
Edit to add, I also like to take a coin out in the sun if possible. This will usually reveal many sins on a coin.
<< <i>I think it's harder at shows not only the lights they have, but the way you have to look at it. Sometimes you're standing and looking down. Sometimes sitting but the light is not high enough to get at the "right" angle. I like to sit in my ol' geezer chair, with the light above me. Hard to get the light above you at the shows. I believe then once the light is above you, you can get the look that you need, at the right angle. And never, never, let someone rush you at a show. If not comfortable.... PASS.
Edit to add, I also like to take a coin out in the sun if possible. This will usually reveal many sins on a coin. >>
I agree with sunlight for spotting problems, and it also makes my best coins look their best.
What books did you buy?
Check out the Southern Gold Society
<< <i>I see I missed something the first time I read your report:
What books did you buy? >>
Illegal Tender (David Tripp)
The Power of Gold (Peter Bernstein)
America's Gold Coinage (ed by William Metcalf, an assemblage of articles form the 1989 Coinage of the Americas Conference at the ANS)
US Gold Counterfeit Detection Guide (Fivaz)
Speaking of Scotsman, I viewed their auction lots after the show. The gold was not very strong, but their 1792 half disme was fabulous. My favorite "real" coin was a stone cold original 1798 half dime in PCGS AU-50. They had some pretty neat coins, but nothing really in my area. I lowball bid on a couple of quarter eagles, one a nice AU 1846-O with a cool 80 degree rotation on the reverse. The other was an original, reddish-toned 1845-D which looked undergraded in the PCGS XF-45 holder.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>
<< <i>I see I missed something the first time I read your report:
What books did you buy? >>
Illegal Tender (David Tripp)
The Power of Gold (Peter Bernstein)
America's Gold Coinage (ed by William Metcalf, an assemblage of articles form the 1989 Coinage of the Americas Conference at the ANS)
US Gold Counterfeit Detection Guide (Fivaz) >>
Illegal Tender is a GREAT READ! You will love it!
TorinoCobra71
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)
An authorized PCGS dealer, and a contributor to the Red Book.
That's very interesting. Some of the small guys often display some unexpectedly big coins. It's all beginning to make sense...
I knew it would happen.