Summer Baltimore 6/24/2011

on 24 June 2011. Posted in News

A Coin Lovers Odyssey

     I decided to take a couple of days and go to the June Baltimore Show.  With our stance for original coins, we were getting thin.  So off I went for Wednesday private showings and all day Thursday.  Normally, I do not do the summer show because of dealer and collector vacationing.  In my opinion, the show is a shell of the fall and spring extravaganza…and so it was this summer.

A lot of dealers didn’t show up and there weren’t enough fresh coins.  I could find all the dipped coins in gold and type I could car load out of there with and without CAC stickers, especially in proof.  Original coins are going the way of the dodo bird.  And when one turns up that is sound, expect to have it offered at multiples of bid.  Alas, PCGS and NGC’s stance of “bright is right” has doomed legions of original coins to the dip tank.  And legions of new collectors will never know squat about truly un-tampered with full of character numismatic treasures.  I’m afraid that the U.S. coin market is following the Canadian market; tons of new mint products every year that cannot all be absorbed.  When buyers look at older dipped out coins, they feel that new bright coins are the way to go.  Thank the grading services and dealers for taking the lazy way out so proper appreciation for the history of coins has been destroyed.  This also allows a large group of Cro-Magnon dealers in the market that can barely read an insert tag to sell coins.  I’m glad knowledgeable buyers still buy in auctions to show the uneducated what truly nice original coins can sell for.

     I offered a collector an original proof set recently and he passed due to the fact that you can find re-dipped over graded swill for less anywhere.  Try to find original 1930’s proof sets now that have not been cellophane burned to death.  It is a real odyssey.

     This year the ANA came to us again with hat in hand to send coins for all of their grading classes.  As usual, we obliged hoping to encourage stewards of our great hobby.  I was even asked to be an instructor for the advanced class.  Unfortunately, I couldn’t due to a few people being out on vacation that week.  If I am offered the opportunity next year, I’m going to do it and I’ll let you know what I learn.  I try to approach everything as a learning experience.  For me, it enhances my appreciation and keeps me alert to subtle factoids that help me with buying.

     Thank you to all our faithful clients that still appreciate what coins are all about.  Numismatics is the historical appreciation for coins, not the modern way to dip them all to death.

Warren Mills

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