ANA Show Report 08/20/2013

on 20 August 2013. Posted in News

Happy to be back from sunny Chicago.  I have to admit, for an ANA show it was run very well:  traffic police on duty all day, good security, excellent displays and no real problems except for the lack of table covers.  Overall, good job ANA staff.

The first full opening day of the show was Tuesday, the 13th.  I submitted a 17 coin PCGS $65 show special submission early Tuesday morning.  We normally get the results in two to three days compared to the $100 one day fee.  There were so many submissions that I did not get the coins back until 5:00 Saturday night August 17th.   For once I was glad I stayed at a show until close which was 4:00.  I’m happy to see so much grading business for them, but I confirmed that the new graders are learning on the fly.  This is bad for those that don’t have grading experience that submit coins.  Learn how to grade or get trusted guidance.  I had two coins in that submission that were submitted multiple times that graded 3 different grades on each!  Finally at the show, they got it right.  Maybe it was a competent finalizer, I don’t know.  But if you have nice coins to submit, consider doing it at a major show.  The value on one coin doubled and on the other quadrupled.

Attendance was shockingly poor.  Little traffic for a big city show was worrisome.  I actually saw a dealer asleep at his table at 2:00 PM!  I attribute part of this to the mint sales of the new 1 ounce Buffalo reverse proof gold coins.  When the mint announced they would be selling them at the show you could stand in line for a few hours and buy 5 pieces for over $8,000.  The subsequent sales were limited to 3 pieces or almost $5,000.  These sales sucked a lot of discretionary income out of pockets that could have been used to buy real coins.  However, you could sell them immediately for $100+ profit the first day and $200+ profit in the later during the show.  Just don’t be the last one holding the promotional bag.

I saw wonderful displays of registry sets with a lot of RCNH coins in them.  It’s nice to see old friends and original nice coins, because they are dwindling rapidly from the floor.  Many of our coins upgraded for clients to add substantial points to their sets.  Coins on the bourse were horrid.  The odd fresh original coins that RCNH sells were being quoted at 50% more than I’d dream of selling them for.  This is presenting a conundrum for us to keep finding original good value coins for our clients.  However, we’ll keep trying to get you the best.

The upcoming Baltimore show will have the “Just for Fun” Shield Nickel set sold at auction.  Since we had a hand in the assembly of the set, look for more record setting prices for RCNH coins.

Please call or e-mail, we’d love to help you with any of your collecting needs.

Thanks,

Warren

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