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Coin Show Report - Parisppany, NJ
DaveG
Posts: 3,535 ✭
Today I went to the first-Sunday-of-the-month 80+ dealer show in Parsippany, NJ. This show usually features a wide range of material and a crowded bourse floor and its advocates call it "the best one-day show in the country." I think I missed the January and February shows, so it more than past time for me to attend.
Although (or perhaps because) it was a rainy day in northern New Jersey, the bourse floor was pretty crowded when I arrived at about 9:40. Normally, you have to get here pretty early to be one of the first ones in the door. One dealer reported being mobbed from about 8:30 onwards.
As usual, I was mostly attending the show to talk to the people I know rather than looking for some specific coins, but I noticed a wide range of available material, except for the "usual" suspects: pre-1853 Liberty Seated silver, pre-1933 and mint-marked Mercuries and Walkers in VF/XF, VF and better Barber coins, etc. I saw a few things that caught my eye, both inexpensive and expensive.
The expensive first: a Coiled Hair Stella in an NGC slab - not a coin I particularly care about, but certainly not something you expect to see on the bourse floor of a "local" show. I also saw a Proof 1846 Seated Dollar in a rattler slab with a GOLD CAC sticker. It had really pretty blue toning, too. I vaguely recall that it was a 64, so I expect the Gold sticker meant that CAC thought it should upgrade to 65. Now, that's something you don't see everyday!
I also noticed a couple of dealers with large inventories of large cents. I'm not into copper, so I didn't really look at them.
The inexpensive: A dealer had three early-60s Jefferson nickels in old-style ANACS holders. They were each toned a very pretty shade of gold and he was only asking $5 or $10 each. I thought they were a "that's really pretty" impulse purchase - numismatic stocking stuffers, if you will. I was somewhat surprised to see them still on the bourse floor, but then, I didn't buy them either.
Today's most surprising overheard comment: A dealer said, while pointing with his chin at a dealer across the aisle: "The guys from Heritage bought his whole inventory; it must have been a $2 million transaction."
My response: The buyers from Heritage were here? at Parsippany? Really?
Today's "new" dealer sighting: Vince Blum. Vince is a well-established dealer who usually attends the White Plains and GSNA shows, but hadn't (as far as I know) been attending Parsippany. When I asked his table mate about it, he said "Vince started doing business down here and now he comes every month."
Clearly Parsippany is the place to be.
As usual, I chatted with a number of the usual suspects: njcoincrank, SeeEagleCoins, AnkurJ and about 10 fellow members of the New Jersey Numismatic Society. It was great to see everyone.
In conclusion: If you're not here, you must obviously be "square", so come on down and make the bourse floor even more crowded - you won't regret it!
Although (or perhaps because) it was a rainy day in northern New Jersey, the bourse floor was pretty crowded when I arrived at about 9:40. Normally, you have to get here pretty early to be one of the first ones in the door. One dealer reported being mobbed from about 8:30 onwards.
As usual, I was mostly attending the show to talk to the people I know rather than looking for some specific coins, but I noticed a wide range of available material, except for the "usual" suspects: pre-1853 Liberty Seated silver, pre-1933 and mint-marked Mercuries and Walkers in VF/XF, VF and better Barber coins, etc. I saw a few things that caught my eye, both inexpensive and expensive.
The expensive first: a Coiled Hair Stella in an NGC slab - not a coin I particularly care about, but certainly not something you expect to see on the bourse floor of a "local" show. I also saw a Proof 1846 Seated Dollar in a rattler slab with a GOLD CAC sticker. It had really pretty blue toning, too. I vaguely recall that it was a 64, so I expect the Gold sticker meant that CAC thought it should upgrade to 65. Now, that's something you don't see everyday!
I also noticed a couple of dealers with large inventories of large cents. I'm not into copper, so I didn't really look at them.
The inexpensive: A dealer had three early-60s Jefferson nickels in old-style ANACS holders. They were each toned a very pretty shade of gold and he was only asking $5 or $10 each. I thought they were a "that's really pretty" impulse purchase - numismatic stocking stuffers, if you will. I was somewhat surprised to see them still on the bourse floor, but then, I didn't buy them either.
Today's most surprising overheard comment: A dealer said, while pointing with his chin at a dealer across the aisle: "The guys from Heritage bought his whole inventory; it must have been a $2 million transaction."
My response: The buyers from Heritage were here? at Parsippany? Really?
Today's "new" dealer sighting: Vince Blum. Vince is a well-established dealer who usually attends the White Plains and GSNA shows, but hadn't (as far as I know) been attending Parsippany. When I asked his table mate about it, he said "Vince started doing business down here and now he comes every month."
Clearly Parsippany is the place to be.
As usual, I chatted with a number of the usual suspects: njcoincrank, SeeEagleCoins, AnkurJ and about 10 fellow members of the New Jersey Numismatic Society. It was great to see everyone.
In conclusion: If you're not here, you must obviously be "square", so come on down and make the bourse floor even more crowded - you won't regret it!
Check out the Southern Gold Society
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I had not been to Parsippany since October. I plan to be there every month. It was agog with activity.
Greg
I'd also like to know more about Heritage buying someone out for $2 mill - musta been one heck of a fresh deal he just acquired, or his personal lifetime collection? I'm sure there will be a lot of show reports today.
I figure I will add to this and if the OP objects I will edit my post out.
Got there at 10:30. Met my boss there who has never collected coins and never been to a show. He seem interested but didn't buy anything. He was amused at the different price quotes I was getting for buying and selling.
I was selling some junk silver, 1/2's. Walkers, Kennedy's, Franklins. $18.50 face. Had these since I was a kid. I got quotes of 17x - 24x. Sold them for 24x. My friend wanted to know why someone would even offer 17x; he could have just said not interested.
I sold 4 Morgans and 2 Peace for $27 each. Since melt was $27 and change I thought this was a good price.
Sold an ASE date set, 1986-2010 PCGS MS69. Some had milk spots including the 1996 (key). I will never collect ASE's again. Got $37.50 each.
Sold a PCGS MS69 1/4 2001 1/4 oz gold for $375 and traded a similar date for an NGC 70 for $10. I find that modern gold in 69 or 70 is currently viewed as bullion and you will get melt plus maybe 1% or 2%. I think from now on with these I will just buy raw.
I bought three pennies for my Whitman folder that I have been trying to fill since I was a kid for $40. Just a few holes left.
Show was crowded, it was pouring rain. We left a little after 11:30 and had lunch at the Irish pub down the road. A nice time was had.
Incredibly busy today... everything from bullion to bust and everything inbetween!! Alot of new faces and these were not folks just looking to buy/sell bullion... many were searching for and finding nice collector coins.
The coin world is alive and jumping... at least here in NJ and at least for this month... we can only hope it continues!!
One continued trend is showing itself more and more... nice quality coins sell... and the dreaded dreck just keeps getting dreckier. While I was able to do some healthy buying, I had to turn down more than I purchased. I have slowly accepted my mistakes of the past (and hopefully learned from them
thanks to Larry for giving this newbie time to make my choices and chat a bit... looking around, your material was consistent in quality and i could have walked away w/ more! when i saw you take out the bag of nickels and had the little girl pull out a couple coins for herself, i knew you were a class act and the kind of guy i want to support w/ my business... i'll be stopping by your table whenever i get a chance...
glad i got to see the show in person and it's close enough to get a fix if i need one... much better than most of the Sunday shows around here...
now to fire up the camera and get some pics...
-matt
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
It was good to see you at the show -- I'm the guy that was overhearing your conversation with the CoinCrank -- always great to soak up information as I love the history side of coin collecting. The 1846 Seated Dollar gold stickered PR64 Bill has is spectacular -- reverse toning is unbelievable. It is amazing to think a bit about how a coin like that has been so thoughtfully cared for and handed down over the years. I alsoheard rumors of the big time Stella but never saw the table where it was.
Thanks for the excellent report.
"Look up, old boy, and see what you get." -William Bonney.
Also found 2 different 1921-S walkers in G/VG condition for $40 each.
Finally, did a like kind exchange transaction in acquiring two different raw J-2060 1942 1c brown patterns (one blank planchet and one fully struck) from Andy Lustig after the show.
There is no question the Parsippany show was hopping. Even busier than last month. I was down there at 8:20 am and the place was already quite busy.
I saw the 1879 Stella (coiled hair) in NGC PR-66 cameo. I admit I am jaded on some of them but I thought it was very generously graded!
breakdown - were you the guy sitting down looking at njcoincrank's inventory or the guy standing up buying Buffalo nickels? In either case, I suspect you have your own stories to tell!
oreville - thanks for reminding me: Larry at SeaEagleCoins had an album page of inexpensive raw Morgans (and perhaps a Peace or two) that were priced at a few dollars over "spot". Half (or more) of me hopes that silver doesn't keep going up, because then an awful lot of common coins will just be so much bullion.
Check out the Southern Gold Society
breakdown - were you the guy sitting down looking at njcoincrank's inventory or the guy standing up buying Buffalo nickels? In either case, I suspect you have your own stories to tell!
Dave, I was the guy buying the Buffalos. And I notice from the CoinCranks's website (his Las Vegas report) that the 1846 Seated Dollar was actually a PR65 with a gold sticker. What a great coin.
"Look up, old boy, and see what you get." -William Bonney.
You said:
<< <i> oreville - thanks for reminding me: Larry at SeaEagleCoins had an album page of inexpensive raw Morgans (and perhaps a Peace or two) that were priced at a few dollars over "spot". Half (or more) of me hopes that silver doesn't keep going up, because then an awful lot of common coins will just be so much bullion. >>
Indeed, I bought the very first coin from that album page! There were other nice coins in that album but I did not want to be a hog!
I overheard that Heritage was there for a specific meeting.
The Stella was 1879, not 1880. Why would someone in this market lose so much???
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.
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
<< <i>According to a very reputable source, the Stella was not sold. And Heritage did not spend anywhere near $2 mill at the show. >>
PARTY POOPER
So how much DID they spend on two entire inventories? Inquiring busybodies want to know
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
When is the next Parsippany show? I think I am attending a three day meeting in <gasp> Jersey City in early May, and perhaps having a coin show to attend will make the visit to the Garden State more enjoyable (not that a visit to NJ isn't a treat).
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)
There is also the GSNA show from May 12-14 in Somerset. I think that show is bigger. $3 admission charge.