Central States Coin Show April 2019

on 01 May 2019. Posted in News

by Warren Mills

Central States has a great venue for the show in Schaumburg, IL.  It’s just outside of Chicago with very easy access from O’Hare.  I love the fact that the show is contained in the hotel where it is held.  The Renaissance Schaumberg Convention Center Hotel is a wonderful facility.  The rooms are nice and the convention center easily holds all of the dealers for the show.  It is primarily a wholesale convention.  Walk up dealers are charged a $125 entry fee, so you better be there to do business!  The public is charged a $5 entry fee, which keeps some collectors away, but the ones that come are aggressive buyers.  Add the major auction by Heritage and you have a great take.

I arrived early on Tuesday the 23rd and did an ample amount of pre-show business.  When the doors opened on Wednesday, it continued.  I was really pleased with the show and would highly recommend attendance to it.  It was much better for me than both Baltimore and F.U.N., you had to work hard but people were there to do business.  Last year was the first time I had gone to the show since 2008.  I’ll be sure to be there in 2020, God willing.
 
At this show I decided to bring some of the usual commercially graded junk for wholesale.  Easy peasy commercial coins are no problem because most dealers and collectors don’t know what they are looking at.  Once I disposed of the swill, I could concentrate on buying real coins.  Overall, I was very pleased with what I found.  There is still a large amount of low-end material at every show, you just need to know enough to wade through it.  One of my show highlights was to meet a couple of our client friends at the show.  It’s a wonderful feeling to meet top quality people and know that they trust you enough to find nice coins for them.  One of our customers had a coin on his want list that I was able to find 3 examples of that were all CAC, but I didn’t feel that they deserved the sticker, so I passed.  The piece has to be right, we will not compromise, period.  Beware of marginal CAC pieces in dealer inventories.  Check for hairlines that are plentiful that the graders may have missed.  I was able to fill many want list items and would rate this show as an overall A-.  The auction coins I previewed for customers were very disappointing.  Once again, I could not recommend a bid on any of the coins I previewed for customers in the auction.  The coins were just flat out over-graded.
 
I will leave you with this, the grading services are murdering the old bread and butter of our industry, circulated type coins!  The absolute junk that gets holdered from AG to AU is atrocious!  The degree of cleaning that is tolerated is inexcusable.  Flip through the Greysheet and look at all the minus signs.  From circ to unc, we are witnessing a direct reaction to over-grading.  Over-grading increases the supply of coins and there is not enough demand to sop up this slag!  Over-supply leads to lower prices.  Please can anyone show these kids at PCGS or NGC what circ type coins should look like?  CAC’s bailiwick is not in circ type, but at least they recognize that the cleaned, worked-on, blatantly, over-graded coins do not deserve a sticker.  The grading services are doing to circ type coins the same way they ruined the commem market, by overgrading over-dipped coins by 1 and 2 points!  It's even worse with circ type because they are outright cleaned and overgraded!  It’s awful and needs to stop now.  I’ll pick this up in the next Enthusiast.
 
Thanks,
Warren

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