Yes, I went there, I invoked Shakespeare to get your attention. This article is going to deal with how unrealistic it is to attempt to purchase coins sight unseen, even graded coins, via auction. Then, hopefully next month I will address selling coins via auction.
We took off for Baltimore on the tail end of a snow storm and bounced around from start to finish. Thankfully, that was the only problem we encountered. I started the day before the show opened, viewing auction lots for customers. We offer this service to our clients to prevent them from buying anything that is not the cream of the crop. When I was done, I could not recommend bids on any lot. To me, it was a conglomeration of recycled stale inventory coins thrown in the auction along with the odd decent piece. I was shocked at the overall dismal quality of the lots. This was a sale that the price conscious could buy a coin on the cheap thinking they got a bargain, until they try to resell.
Rare Coins of New Hampshire is proud to announce that it has been selected by The Heritage Institute as The Strategic Resource of the Year. Donald W. Dee, Director of the Financial Services Division and Rare Coins of New Hampshire were selected for their long standing partnership with The Heritage Institute and their "adherence to the highest professional standards of excellence."
I decided to attend the PNG meeting this year. It was a luncheon prior to the show opening. About half way through I excused myself to take a call. When I came back, the podium was yielded to a PNG member that said they are starting a service to affix a P.Q. sticker to a coin. The purpose is to give marketers a confidence boost so more coins stick with customers.
Thankfully it’s over. It started and ended the same way….with a whimper. Don’t get me wrong, we were deluged the day before the show and the opening day, for dealers mainly. We sold almost $200,000 worth of coins and purchased $725. Most of that was dealer to dealer. Where have all the retail collectors gone? I am seriously thinking about giving up our table and just doing Wednesday and Thursday. Paul & Joe did the show for us. I took the time to stay at the office and rest my trick knee. On Wednesday I received a call from a prominent dealer thanking me for having not just new fresh material but also fairly priced coins. It was nice of him to call me from the show.