My First Ever ANA Show - Show Report

Discussion in 'Coin Chat' started by illini420, Aug 11, 2009.

  1. illini420

    illini420 1909 Collector

    Hi there, posted this over on the CU forum yesterday, but thought that some here may enjoy it as well. Thanks!! -Mike

    Day One – Saturday, August 8, 2009

    I was really excited for several weeks, even months, before the show as this was going to be my first ever ANA show! I’ve never traveled out of town to attend a major coin show before so I was really stoked that the ANA was coming to me! Unfortunately, I had to work during the week so I had to wait until Saturday to make it. It was torture working Tuesday to Friday knowing all of those people were looking at all of those great coins only minutes away (or hours away depending on L.A. traffic!).

    I’ve been to the L.A. convention center before so I knew it was next door to the Staples Center so no trouble getting there. However, I was a little concerned because I didn’t even see a single sign for the show in my short drive on the surface streets from the freeway to the convention center parking garage. Heck, even at the Long Beach shows there are usually those big temporary traffic signs that direct the coin show traffic towards parking and relatively large banners outside of the convention center. Once in the garage I was a little confused whether I was actually at the right place as there were dozens of signs for a major home auction at the same location. Didn’t even see any signage for the show until I was through the garage and actually in the convention center lobby. Pretty weak.

    Once I was able to get in at 10:00, I took a quick look at the collectors’ exhibits which were really neat to look at and you could tell folks put a lot of hard work into. I didn’t spend too much time at them since I knew those weren’t going anywhere but the coins at the dealer tables could move at any minute!!!

    Before getting started though, I couldn’t help but check out the exhibit area that had four of the five 1913 Liberty Nickels, a Brasher Doubloon, the “first” 1794 dollar and the first and last $20 gold pieces the 1849 and the 1933. Awesome to check that out and was worth the trip downtown for that alone!

    Now finally it was time to try to work some deals and get me some new coins. My first impressions of the bourse itself were not that great. I guess I expected a lot bigger show given the way the ANA shows are usually reported and from what I’ve heard from dealers and collectors about other ANA shows. However, this show seemed as if it was around the same size as the typical Long Beach show and was probably less busy than a Long Beach show the day before closing.

    I brought several coins with me that I was hoping to either trade or sell to raise some cash to finish off my current sets or just to buy other coins that looked cool to me. I’m sort of an impulse buyer I guess :) Many of the dealers I saw at the show were the same dealers who set up at the Long Beach shows, but there were several new faces and even a few dealers from other countries.

    It only took me around ten minutes to find my first purchase of the day, an “upgrade” to my AU55 from my 1908-S IHC grading set to replace my current AU55. Here’s a picture of the new AU55 which I scored from Northern Nevada Coin:

    [​IMG][​IMG]

    I just think that new example has a much more appropriate and natural look for the grade than my current AU55 pictured below which appears to have been messed with. This is another perfect example of buying the coin and not the grade on the holder (both the coin above and the coin below are PCGS AU55):

    [​IMG][​IMG]

    As I made my way through the bourse I noticed that the quality of the coins I was seeing in most dealer cases was about the same as most shows I attend. I guess since it was the ANA I was expecting to see a lot more of those monster coins that are only seen a few times in a lifetime. Apparently those were all in the auctions or something.

    It also didn’t take me long to notice that Legend had apparently left the show early which sort of bummed me out as I was really looking forward to seeing the legendary trade dollar set on display. To top it off, at their empty table a sign remained next to an empty stand which supposedly held a 1909 VDB Matte Proof Lincoln graded 68*!!! Wow, that would have been amazing to see too.

    I made my way to Holsonbake Numismatics and was able to work a few deals with him. He had lots of great looking coins, some of which were very tempting :) Angel Dee’s, which is a favorite table of mine at the Long Beach shows, had some of the best of the best copper on display for sure and they’re always a pleasure to chat with. In particular, there were a few Proof 67BN Indian Head Cents that had amazing colors.

    Eventually made my way up to ThePennyLady’s table as well to look at her awesome copper and to pick up a coin she was holding for me on behalf of Arizona Jack which I asked that he bring to the show for me. I thought this one was a pretty looking 1924 Lincoln that will go into my BU Lincoln Dansco album. Thanks Jack!

    [​IMG][​IMG]

    Overall, once I found a coin that I liked I quickly learned that most dealers were very hesitant to take anything in trade for their coins. Cash was definitely king at this show. I found it very difficult to sell even the coins that I thought looked very nice and I found it nearly impossible to sell the coins I had that I thought were just average. Even taking coins to guys like McIntosh or other dealers who even six months ago would be interested in any coin you brought them and would offer Greysheet bid or maybe 10% back of bid if it was something they didn’t need, were simply not interested in making offers or even looking at my coins in the first place.

    Other dealers I would show a coin to and offer them what I thought was a fair deal would often tell me that I had a very nice coin and was offering it to them at a very fair price, but they just didn’t have the cash to spend. My experience was that dealer cash is very tight and in some cases nonexistent and reaffirmed that cash was definitely king at the ANA. Maybe the cash was flowing earlier in the week and it was just that I came to the show too late or perhaps it’s just the darn economy, but I’m guessing it’s likely a combination of the two.

    But in any event, given that I was getting very poor offers on my coins or not even getting offers at all, it was really hard for me convince myself that I should be buying more coins from these same dealers who were asking very very strong prices for their coins, knowing that if I needed to sell or wanted to trade them, I may not be able to do so without incurring a substantial loss. That definitely wasn’t the case in my experience even a few months ago.

    Given that, I spent the day looking at many nice coins that I would have liked to own, but then having to hand them back because the prices were just too high. On the coins that I thought were fairly priced, I ended up passing on several of those too because of an unwillingness to accept trades of what I had with me at a similar reasonable price. This was the case with a decent looking PCGS MS66 1909 Barber Quarter with some pretty toning that I found. The price wasn’t unreasonable and it would have upgraded my current coin graded MS65. However, once again, was unable to get what I thought was a fair deal involving a trade. The dealer didn’t want my coins unless he could practically steal them from me, expressing a clear preference for cash. Didn’t bring enough cash with me for the coin so I figured I’d sleep on that one and bring my checkbook along with me the next day just in case.

    Before I knew it, the day was coming to an end and it was time to go home. Since I didn’t quite get to see everything I wanted to see and didn’t get to spend enough time at the world mints and the U.S Mint and BEP exhibits, I knew I’d be back the next day.

    Day Two – Sunday, August 9, 2009

    Now that I knew trades were pretty much a no-go at this show, I brought my checkbook along for Sunday. I knew the show didn’t open until 10:00 a.m. again, but I found out that the collectors’ exhibits were open early, so I again showed up early and I spent at least a half hour checking the various exhibits before the bourse opened to collectors.

    There were many great exhibits. My favorite was an exhibit of 1909 Lincoln Cents which had several pretty ones including a 1909 VDB matte proof in 66RB and a 1909 VDB DDO in 66RD. There was also an informative exhibit on Three Cent Nickels that was neat. Another interesting exhibit was a complete set of Lincoln Cents in two Dansco albums that the viewer could flip the pages of the albums using sticks attached to the table which extended outside of the case similar to those of a foosball table. The Yap Stone money display was also interesting as I’ve never seen any of those before. One of the most unique exhibits was the Half Cent Clip Clock which was a display of 12 half cents with clips, one example with a clip at 12 o’clock (at the top of the coin’s obverse), one with a clip at 1 o’clock on the coin obverse and so on all the way around the clock.

    Now that it was after 10:00, I made my way back to the bourse. I was really surprised that so many dealers were still there on the final day of the show. I’m used to the Long Beach shows where maybe a quarter of the dealers skip the last day and another quarter are gone by noon. Of course, as soon as I had that thought I noticed the dealer with the 1909 MS66 Quarter I was eyeing the day before was one of the few who didn’t show the last day. Oh well, I know where it is if I decide to still make the deal.

    I also decided to bring along my 1909 set with me to search out some upgrades (much easier for me to do with my current set in hand to compare and then possibly trade the lower coin towards the higher). I was able to find several gold coins that would be ok upgrades for my AU examples, but none of them were really nice for the grade or were priced too high so I didn’t end up making any upgrades. I also brought my 1909 set so I could spend some time with it checking out the coins under the microscopes on display at the Dino Lite display. Probably spent 20 minutes there looking at my set under the scopes. Those things are so neat and they make it super easy to see the MPL diagnostics of my 1909 matte proof. May have to buy one of those Dino Lite scopes someday. Of course, since I had my set with me I was able to show it off to a few friends which is always fun :)

    Didn’t end up buying too many coins on Sunday, but I was able to pick up several more BU Lincolns for my Dansco set, including the 1919 and 1929 pictured below which I got from ThePennyLady. It’s a set that I’ll never finish because I know that so many of the early dates are too expensive for me to buy raw and/or to crack out of slabs for an album. I’ve already learned my cracking lesson!

    [​IMG]
    [​IMG]

    I also decided to purchase and complete one of the 2009 World Mint Passports to keep as a souvenir of first ANA show I’ve been to. Taking the “tour” of the World Mints, getting my passport stamped and collecting the different coins was actually really fun and I did get to see many world coins that I’ve never seen before. Well worth the $10 or so and only took 20 minutes or so to complete. I did think it was pretty ironic though that the passport has a page advising collectors to handle their coins with care and hold them by edges to avoid damage. I don’t think too many of the various mint employees read that page though as I also have fingerprints from around the world in my collection, but those were pretty much unavoidable as it’s not very easy to get coins into the holder. Here’s the result of my world tour:

    [​IMG]
    [​IMG]

    Also had the chance to check out the Bureau of Engraving and Printing’s Billion Dollar Exhibit which was awesome. At the exhibit they had a press from the 1860s on display and were using it to demonstrate how they printed using the plates, applying the ink, operating the press, etc.

    The U.S. Mint’s exhibit wasn’t quite as exciting as they just had their current inventory for sale and they had a display of the Ultra High Relief coins. I saw several folks buying their limit of 10 Ultra High Relief coins, maybe there’s a flip opportunity still on those? Or maybe they plan on getting them graded and banking off the 70s they get back? I just bought my 2009 Proof Set, 2009 Silver Proof Set and a 2008 First Spouse Medal set. I was tempted to buy the 2009 First Spouse Gold coins since I have the 2007 and 2008 sets, but still haven’t decided whether I’m going to continue that set or now. Mostly, I thought it was interesting that many dealers at this show were attempting the charge CA sales tax on their sales, but the U.S. Mint didn’t have to charge the tax.

    On my way out of the show I had to take another look at the three 1913 Liberty nickels on display (the fourth was gone since Smithsonian exhibit apparently left Saturday night).

    Conclusion

    Overall, did the show live up to my expectations??? Not entirely, but I really have nothing but maybe the Long Beach shows to compare. However, I still had a really great time both days I attended and can’t wait for the next ANA to visit Southern California. I personally don’t think a show is a failure because a few or even several dealers didn’t make as much money as they may have in the past but I do understand that if their businesses are hurt then my fun at coins shows may be hurt in the future. In fact, the light floor traffic (especially on Sunday) actually made it that much easier for me to see the coins I wanted to see and to interact and try make deals with the dealers. I didn’t buy as many coins as I normally do at a large show and didn’t spend as much money as I have at previous shows, but it was definitely one of the coolest shows I’ve ever been to.

    Finally, one of the most exciting things that I learned at the show was that the ANA show will be going to Chicago in a couple of years... if the Cubbies are in town that same week that might just be too tempting and could be my first trip out of town for a coin show!
     
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  3. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer

    Great report!
    Glad you had some fun, and you at least could pick up a few coins... Sorry the deal on that barber didn't work out :(
     
  4. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Good read.....really enjoyed it. :smile
     
  5. chip

    chip Novice collector

    Very enjoyable post, thanks for sharing your experience at ana.
     
  6. krispy

    krispy krispy

    "I also have fingerprints from around the world in my collection,"

    ...that's funny!

    Great report too. Got my vote.
     
  7. xtrmbrdr

    xtrmbrdr Senior Member

    Great write up on the show and an awesome 1908S upgrade!

    OK, I need to hear the lesson learned since I've been thinking about doing the same thing with the same coins.
     
  8. illini420

    illini420 1909 Collector

    Thanks for the nice comments everyone :)

    Regarding xtrmbrdr's question, I posted my cracking out coins experience over on CU Forum around a year ago... I plan to rework that write up with an update for the CoinTalk crowd in the next week or two as I think it's worthwhile and may help some folks trying to make those decisions.

    Thanks again :thumb:
     
  9. krispy

    krispy krispy

    ...and you're doing well in the polls too! :eek:hya:
     
  10. CrustyCoins

    CrustyCoins Twilight Photographer

    Great write up on your show experience. Sounds like you had fun. I have a nice Lincoln Dansco as well that I don't think I can complete for the same reasons.
     
  11. Conder101

    Conder101 Numismatist

    That's becasue the ANA does not allow the dealers to leave early

    But of course if you are a major dealer you can get away with it. Smaller dealers run the risk of penalties ranging from fines to not being allow to have a table in the future. Thay tried doing that to the bog dealers but they just said fine, if you do we won't take a table and will just work the floor. But that meant the loss of big drawing cards for the show and the ANA backed down.
     
  12. krispy

    krispy krispy

    Since I read that there was a nominal $6/day admission/entrance fee for non ANA members, it would be rather rude for dealers to leave early. Although it was mentioned in the write up above, that one of the display coins that belonged to the Smithsonian was already gone due to an early departure. oh well, I guess the LA Conv. Center pocketed the fee for use of the venue.
     
  13. Speedy

    Speedy Researching Coins Supporter

    I love the new 08S cent you got! A great upgrade, and a very nice piece of your collection! IIRC I have 2 - one in G/VG and one in VF, but I haven't seen them in so long I can't remember.

    Speedy
     
  14. illini420

    illini420 1909 Collector

    Hey, just noticed that, thanks everyone :thumb:

    I agree that the $6/day fee is pretty harsh, but I guess that keeps the homeless out of the show (the show was downtown). Still, I would have been upset if I had to pay the fee on Sunday and I didn't even get to see the 1849 & 1933 $20 gold that was advertised. Thanks Conder for the info on them being required to stay... I guess some of the bigger dealers like Legend just will do whatever they want. They are never at Long Beach on Saturdays either... oh well.

    Speedy, thanks for the comment on the new purchase. Those 1908-S IHCs have really gone up in value over the past 6-9 months or so... I think someone has been hoarding a bunch of them ;)
     
  15. yakpoo

    yakpoo Member

    "I brought several coins with me that I was hoping to either trade or sell to raise some cash to finish off my current sets or just to buy other coins that looked cool to me."

    The next time you go, please let me make you an offer on your 1909 Liberty Nickel...that way you'll have plenty of money to "finish off my current sets or just to buy other coins that looked cool to me."
     
  16. yakpoo

    yakpoo Member

    Wonderful Post...btw...I learned a lot!! I've never been to a Coin Show. I'm hoping to go to the next one they have in Baltimore.
     
  17. Arizona Jack

    Arizona Jack The Lincoln-ator

    Nice report Mike !!

    I cannot believe the upgrade on the 08-S, WOW, you really grabbed a solid, solid, strong 55 for sure. Now thats a sweet AU that is off the sheet as far as value goes compared to other " technical " AU's...

    Your pics look great as well, knowing that 24 in hand, you did a great job of representing it with a camera:)

    Luckily, I was able to stop at Legends table on Friday. That Trade Dolar set was amazing and now has my wife asking me to shoe her pics of toned silver...uhoh. The Matte 09-VDB in CAC/PCGS -68RB was also quite a sight:eek: I don;t know why, but I cannot get excited at 1913 Lib nickels......
     
  18. stoster38

    stoster38 Member

    Also my first ever ANA show

    I had gone to local shows such as the Long Beach show and was also happy that the ANA World's Fair of Money was comiing to Los Angeles. I was fortunate enough to be able to take time off work to attend the show so I was able to go to almost every day except Sunday.

    Since this was my first show I decided to take things slow and just soak it all in. On Wednesday I was their for the opening ceremonies and even got my picture taken with US Mint Director Edmund Moy. He seems to be a very friendly fellow.

    I ended up walking the floor that first day looking at all the exhibits and taking a look at all the lovely coins that the dealers brought with them. I did also buy the Mint Passport and spend part of the day getting my stamps and coins. It exposed me to some beautiful coins from different parts of the world. Unfortunately, because of the weak dollar, some of the foreign coins were a little too much for my budget. I did buy some coin supplies that first day which I needed.

    The next day I went on the Federal Reserve walking tour. I had been there before many years ago but it's still an interesting tour to take. If you ever get a chance to take it I would recommend it. I ended up buying a couple of Mexican coins that I had been looking for many years. They are part of the Pre Columbian series and it was difficult to find dealers who carried the coins. I was very happy to finally complete the series!!!

    On Friday I spent most of the day looking for a Morgan dollar. This was going to be my first one and I wanted to make sure that I found one with good eye appeal that fit into my budget. I went from dealer to dealer just looking at all the beautiful Morgans they had. Most of them were out of my budget or did not have the eye appeal I wanted. I finally found a 1882-S Morgan graded MS64. It's such a beautiful coin and was not too expensive. So not only did I get my first Morgan dollar but also my first coin that's over 100 years old!!! I also ended up buying a coin from the Austrian Mint called "Der Basilisk". I loved the design and the story behind the design. If you get a chance take a look :)

    The final day I was there I ended up buying mostly modern proof sets that I was missing. I started collecting off & on in 1992 and so my intention is to try and get all the proof & uncirculated sets that I missed. The show itself wasn't too crowded which was a little surprising. It could be that lack of advertising hurt it some or because there are so many things to do in Los Angeles it just draws people away. However I have to say that I thoroughly enjoyed myself and can't wait to go to another World's Fair of Money!!! Next year is in Boston which would be more expensive since I have to pay for travel and lodging but if I can work it out I'll definitely be attending!!!
     
  19. illini420

    illini420 1909 Collector

    Thanks for the nice comments, Jack! And thanks again for that 1924... looks good in the album, but it's pretty lonely with lots of empty holes around it ;)

    stoster38, nice report!! thanks for sharing... I've never been down to the Fed Reserve but it sounds really cool. Wish I could have made it during the week to check out some of the meetings and tours they had. Never been to Boston myself, but this show would be a great excuse! Will probably hold off until Chicago in Summer 2011 though as that'll be a really good show for me :)
     
  20. illini420

    illini420 1909 Collector


    http://www.eurocollections.com/store/product.asp?id=4904

    Is that the coin you bought?? Pretty wild design and looks to have tons of detail, major difference than the coins produced by the U.S. Mint these days. Pretty cool :)
     
  21. CrustyCoins

    CrustyCoins Twilight Photographer

    That looks like a great series, I wish they were a bit bigger though. They are only about 1/2 Ounce for $42 USD I could not quite pull the trigger.

    Still thinking about it though. :)
     
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