COINEX London Report.

It was a 5-hour Journey to the Coinex London show today for me by car and train and 5 hours back again. Being analytical it only takes me 9 hours to fly to the FUN Convention.

The show is held in a room in the Biltmore Hotel in the West End of London which is quite high end and the equivalent of about $400 a night for a bed. It is a 10-minute walk from Bond St Tube station and easy to get to, in fact you can take a train from Heathrow Airport to Bond St without changing.

There were around 40 dealers so dependent on what you want to do it can be covered in a couple of hours. I tried to take photographs to show the forum, but the security guards stopped me every time as they did to other visitors. The BNTA (British Numismatic Trade Association) are pretty dumb in that respect because with only 40 dealers they need all the publicity they can get and the interference is simply irritating. Of course, I would have asked a dealer’s permission before I photographed, and these would not have been close ups. However, it is what it is, and stupid is as stupid does. I didn’t intend to take images of a military installation only a coin show and whoever thought up that rule needs a change of career. Sadly, we are entering dystopian times and people relish control of others.

In synopsis, there were some big-name British dealers such as Spink, AMR, Wessex and Silsbury, Den of Antiquity. Leu and Klunker were there as well as some Indian dealers who had fascinating coins but outside of my collecting interests. I met Sam Spiegel of Heritage and his UK Managing Director Sara Balbi, spent some time chewing the cud with a few people such as James Morton of Morton and Eden. James sold my Scott and Shackleton Polar Medal Collection 20 years ago and is a pleasure to meet. He had a great English Civil Ware sale last year on my birthday and I picked up a catalogue. I also met Dick Downes the Shipwreck diver, beachcomber, shark hunter numismatist who showed me a coin made from Cull Hollandia Shipwreck coins that were left as unrecognisable clump coins. This is a commemoration piece that is to be launched in the new year.

I also met Dominic Chorney whose book “Treasures of the Occult” was launched at the show and regaled him with some of my ghost stories. Dominic works for Baldwins and took his history master’s degree in Cardiff Wales and advises the British Museum on treasure find valuations of ancient coins. An interesting young man and I was pleased to buy his book as this is an area that I am considerably well-versed in. He is from Glastonbury and I know his hometown well as a frequent visitor myself.

I also spent some time with the NCG people and some other dealers but was back home in time to take my dogs out tonight. A long day as it started at 4.00 am and a nice train journey at 125 mph on the anniversary day of the first passenger trains in the world which was in 1825. (I mention this for the benefit of @dwhiz ) It was a Great Western Railways train and the guard was a tremendous character , totally cheerful, full of humour and kept reminding us we were travelling at 125 mph, 4 foot above the ground! I have some involvement with railroads and meet some dedicated people. I met no one that uplifted me like him at Coinex.

However, I saw some fabulous coins outside of my budget and some future auction lots “in the flesh”, that could be , bought several new books, and to me, given the paucity of UK shows I don’t regret the day. It certainly beat gardening with a chain saw as I have some lumber duties to deal with.

In all honesty if you are a USA collector most of the same dealers will be at the New York, Florida or other USA shows but with probably at least 30 times more dealers than Coinex. If you wanted a vacation in the UK it would be a decent interlude or diversion but probably not worth a dedicated transatlantic trip. As you will see below, 2 hours after opening the crowds were claustrophobic.

I couldn’t make the first day because of work and the entry price is 10 times that of the public day and I guess that is when most of the business is done, either inter dealer or specific clients.

I came back with a couple of new books, saw some fabulous coins so had a good day. He couldn’t at an eclectic coin show unless you have a closed numismatic mind.



Inner board cover of "Treasures of the Occult".

 

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Nice report!

What would you say is the breakdown among raw vs slabbed coins at a London show like this? I'm guessing it the amount of raw material is still higher than at any US show?

 

I would say roughly about 80% un-slabbed. And in hindsight thinking about it, there were several thousand coins on display but I cannot recall seeing a single Morgan Dollar, not one. I only considered this when you raised the slab point @ddddd
There were several hundred interesting gold and silver Indian Raj and Colonial coins and there were mint state 19th Century Indian Rupees on offer a little over melt which fascinated me but I have some shipwreck ones so didn't want to buy any.
The interesting thing is that I saw a tray of 25 Hammered 17th Century Crowns and could have picked any one up and thoroughly examined them close up for flaws without plastic to make a decision on something costing thousands of dollars without taking into consideration an "expert" grading it. This then leads to aesthetics and do we buy the coin or the label on the plastic?

 

While I have become used to slabs, there is something to be said about being able to pick up a raw coin and examine it. It would be a fun experience.

 

I don't understand the logic behind no photos. If a criminal is going to target a specific dealer or coin, how would photos help?

 

I really don't understand it either @KMMPLL , the point you make is exactly what I thought. As we know from some of the reports on this forum and others , serious criminals stake out their victims and are usually to be too savvy to have incriminating evidence on their phones and if your read about how they operate they wouldn't even have a phone unless it was a "burner" phone because the phone identifies them to the location. I also can't see anyone throwing away a $1000 iPhone. One thought was that the security was hired in and they are more familiar with music concerts where some artists, like Bob Dylan ban phones.

 

Thanks for sharing your experience @Dafydd ! Sounds like a very pleasant way to spend the day.
19th century rupees for just over melt?? I wouldn't have been able to resist a few of those.

 

Neat report. I follow Dominic on Instagram and a few British dealers as well. I was considering purchasing his book as well as I love coins with a story, though I don't know exactly how this will pan out, especially if they are all over seas and the tariff situation.
One of my favorite parts about coin shows is seeing coins I'll never be able to afford in person! Looks like the trip was worth it for you!

 

I don't think you need to be concerned about tariffs on books @Joshua Lemons as far as I know I believe printed matter can circulate freely without import duties. I've sent several books to the USA without issue and probably receive one book a week from the USA without issues my end. I don't think the coins are out of the ordinary except for their analysis and many are tokens. I would hope that the issues of tariffs will gradually fade because there are several bigger fish to fry in respect of tariffs than collectors coins like the automobile sector and investment or lack of it. Yes it is good to be able to see interesting things and to see what the wealthy collect. That is a whole debate in itself as I do feel that some of the Uber high priced coins are purchased more for investment, statement of wealth and one-upmanship. Fortunately or unfortunately whatever your philosophy is, I don't need to worry about these games and whilst it would be nice to profit from a collection, that has zero motivation for me and I would not consider my coins as investments but as objects of curiosity and a study opportunity. I have spent more on books researching some coins that the coin that motivated my interest cost me.
Baldwins auctioned a coin the night before the show called "The Crown Coin; Her Masterpiece" which was made from 3.61 kgs /7.96 lbs of gold and beset with 6,426 certified diamonds. It was hyped at an insurance value of £16 million/ $21.4 million and was being sold with a "conservative" estimate of £2-3 million . It finally hammered at £1.8 million so with the various commission and duties just under $3 million.
Melt value of the gold would be roughly $400,000 but it took 83 artisans 18 months to make it. The artisans were based all over the world but from some calculations made the labour cost alone was probably circa $3 million plus materials so the East India Company who commissioned it probably got their fingers burnt and didn't make the killing they had hoped for and some wealthy person has a one of a kind piece that he or she bought at less than the manufacturing cost. The only party that would have made on this would have been the auctioneers.
I wouldn't have wanted it even if I could have afforded it and I guess unless it is locked away it probably brings more trouble than its worth. If I had $3 million to spend. With my interests and spending say $1000 a coin that would mean 3000 coins to buy and I don't think I will live that long but I would have a real good try at trying to spend it!

 

They are covered quite well in the book @lordmarcovan .
My interest in quack doctors and their tokens is not a million miles away from Alchemy and the like and I can see another rabbit hole in the distance...........

 

To me the dictionary definition of "gaudy." https://agaunews.com/the-east-india...gold-coin-adorned-with-almost-6-500-diamonds/

 

I can think of a couple of Rappers that might want to hang it around their necks.