2021 ANA Coin Show Report (Saturday edition)

This was my first show since 2019 and it was good to be back! I prefer going on a weekday but other plans prevented that this year, so Saturday was my day. What follows are some observations:

~As expected, the bourse was less than full; I’d estimate a bit over 50% of the tables were still occupied as the show opened at 10 am. As I was leaving at 1 pm, it was down to about 25% remaining.

~The NGC table was empty by 1 pm as well but the PCGS table was still busily at work (people were eagerly submitting coins and there were a few people still waiting their turn). The Anacs table was also still occupied.

~NGC was giving out a free sample slab for anyone that participated in their registry; I was glad they still had some available (it was my first stop when entering)…the people in charge are very nice and have always quickly assisted when I had new items to add (I have several modern world sets)

~I brought a few items to sell and was successful with most of them… one item I could not sell was the cheapest coin I had (less than $20); interestingly enough a few dealers that considered it took longer to think about buying that coin than the more expensive one that I sold (I realize many do not want the inexpensive items in their inventory, especially if there is little margin; I was just surprised that some of the dealers were thinking for a bit of time as opposed to making a quick yes/no call on such an item)

~On the buy side, there were still plenty of coins (even with a smaller dealer footprint) but most of the prices were on the high end. I collect toners (especially Morgans), so there is often a good amount to choose from but the prices often hold me back. Online auctions continue to be a better source (although I did find one of my better toned Morgans at a show several years back). World coins are another passion and the pickings there were less compared to US. I found a toned Caballito (Mexico Peso) that I really liked but it had a few strikes against it: a PCGS QC holder (I don’t mind as much as I judge the coin first) and a very aggressive price (I mind this more than the details grade). I also saw an 8 Reales coin that I was the underbidder on at a recent Stacks auction. It was a lower grade but had lovely color. The price now was a little over double the Stacks result (it’s a nice coin and I’m guessing the dealer doesn’t need to move it-I don’t blame him as it would be hard for me to sell it as well).

~My only purchase was a pair of Polish 5 Zlotych (the ones with Queen Jadwiga). I’ve been looking for a 10z (including here on the world bst) without much success. These two are of a lower grade and a different denomination but I still liked the look and the price was right. One will fill a hole as I continue to search and the other I will likely sell.

~There is one dealer that is at most of the Illinois shows and I’m not sure why. He rarely sells much and has a poor attitude. I did buy from him at one show but that hasn’t helped “break the ice” as he still has the same attitude. He had a few nice toners that I wanted to see and hear the price but he just shooed me away saying “you’re not going to buy them anyways” (well I guess he was right after that commentary)

~There weren’t as many people from the public walking the bourse as I expected for a Saturday (maybe most know that Saturday isn’t the best day and are now going during the week)…I did see a few YNs (including some scouts), so that is always nice (I also know that the younger crowd from IG was walking the floor most of the week based on reports I’ve read/pictures I’ve seen).

~I didn’t focus a ton on bullion but did notice one dealer had a special on Silver Maple Leafs for $4 over spot (I miss the $1 over spot specials but then again I haven't bought bullion in a few years now, so it doesn't matter too much for me)

~Overall, it was a fun experience and one day at a coin show beats no coin shows!

 

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Here are the two coins I bought and the free sample:

 

Nice coins. I have some of those Poland coins. They get pricy in high grades.

 

Here are mine and they are NFS not for sale...

 

In all reality - are coin prices going up at shows recently? There are indicators that they are, but I also know folks not happy when they cannot buy a gray sheet ask $500 coin for $200. I’d like to hear the real story.

 

Very nice, Dennis. Great write-up, and nice coins that you scored!

 

Hello DDDDD,

Thank you for the write up. I have never been to a coin show. A number of years ago I was involved in the gem business and I worked a number of shows, notably the Tucson Gem and Mineral AGA show in February and the NYC Jewelry show at the Javits Center every July. Is it normal for dealers to leave before a coin show ends as you wrote? If we packed up and left early at any the shows at which I worked we would be told not to return the following the year.

 

If a dealer was not nice to me and rude I would walk away too. Most of my regular dealers at The Las Vegas coin shows I go to are eager to help and always nice to me. They want to sell coins.

 

Enjoyed the analogy of the show DDDDD. Yes, prices are reaching my "Outer Limit." Thank you for sharing your fun trip.

 

The ANA Worlds Fair is so huge it doesn't really matter if some dealers leave. You could still be busy with who's left for two days. There's a lot of cost involved for them to get themselves and product to shows and buy the booths. I think tables were pretty steep. So the big guys stay for the whole show but many dealers are only there for one or two days. You have to remember it's going on from Monday through Saturday. Monday is dealer day only so they're already there. Heard it was very busy Wednesday and Thursday. I was there Friday Saturday and there was no shortage of selection, although 40-50% of the dealers had probably left on that day. I spent a good 3 hours on the floor Saturday and it still felt like a time crunch trying to find what I wanted.

 

From my experiences, prices in general are going up (and have been since Spring 2020). Coin show dealers have adjusted to the market and increased their prices too. There are always some items that slip by and those are often cherry picked.

I also know folks who will lowball or try to buy anything at greysheet (or below). Some coins can still be had at sheet but it's usually the ones with low eye appeal or some other issue (maybe a fortunate upgrade that the dealer is willing to let go since there is still plenty of profit).

It is normal for dealers to leave before a coin show. This has been discussed over the years (with plenty of people complaining) but it continues to happen. Some dealers finish their business early and just have no reason to stick around.

 

Leaving early has been a problem since the early 80's. Dealers would say
that they want to spend time with their families. I say stay at home. Others
leave early because the dealers say the attendees are "tire kickers" and
bargain hunters. Implying they won't be spending enough money to make
it worthwhile. At the recent ANA Heritage, Stacks/Bowers and others only had
coins for the customer to preview for future auctions. The ANA is in a difficult
position with dealers that leave early. The large dealers pay BIG amounts of
money for prime table locations and they make donations thru out the year.
The ANA can't afford to tick them off. Smaller regional/local dealers pay
big money too, some stay others leave early. There are no real answers.
The "My Way or the Highway" has been tried. Doesn't work. There are
some obvious answers, but I won't go into those.

 

Morgans and Peace were high. I'll give you some examples. Granted these were extremes.
I bought a 1925 Peace dollar NGC MS-65 for my type set on ebay back in December 2020. I paid $110 for it I believe. If I wanted another I could have easily bought another around for that. That was shipped price and they lost ebay fees. While scanning cases at the show I spotted a 1925 Peace graded same MS-65 in same NGC slab for $325.

A guy that was there with me was looking for a 1921 Peace for his set. Found a MS-64. Price guide was like $1215. He would've paid $1400 for it. Guy wanted $2400.

A few years ago I bought a 1932 $10 Indian in MS64+ for $1500. Something came up and I ended up selling it two years ago for $1300. Saw one at the show, guy wanted $2100 for it! A guy had 5 of them in MS63 lined up and he wanted $1300 a piece for those. $10 Indians are moon money now.

On the flips side some stuff was pretty reasonable. The Oregon Trail commemorative I bought in MS66 was $100 below online price guide. But that wasn't happening for much else. You might be able to knock $25 off something but I didn't see anybody talking anybody down much more than that.

I sold some silver to help fund some of my purchasing and reception was luke warm mostly. Those who were buying were at $24-$25 just above spot, which, I guess... I have a lot of silver that cost me $35+ and there was no shortage of them selling it at those levels.

Saw two new ASE 2021 proof Ws in a case. Only ones I saw. Wanted $150 a piece for them. Was glad I got my two from the mint.

 

@spirityoda those are some nice Polish coins! My preferred grade range is between 58-64. There is one on eBay but it's from overseas and is pricey (long wait and a little more than I want to pay). I heard these were fairly prevalent a few years ago but have been barely available the last few months that I have searched.

 

Honestly.... you make it sound like its a complete waste of time.

Not that they have to discount they're inventory because its a show but why go if they jack up all they're prices? Makes no sense.

 

One could read it that way, but there were plenty of positives. Spending a day around coins is fun on its own. Then you have the thrill of the hunt; with many different dealers, you never know what you might find (and I did pick up the two Polish coins for a fair price). Also selling is a big part of why I go. You can get instant cash and don't have to worry about dealing with eBay and mailing items out. Plus, I was able to sell an item that wasn't moving online.

Something else I didn't mention: there are plenty of educational opportunities. People put up displays where you can learn about a variety of numismatic topics. Then you have a chance to see a ton of coins in hand and learn how coins are graded in person (vs trying to figure it out from photos online). There are also several coin clubs that set up tables and multiple presentations (although these are mainly done during the week and not on the last day).

 

I know I thought about going to the big show in cincy a couple weeks ago... my main interest in going was running into a couple pcs that i cannot find... or can't find the example i am looking for.

 

That's always possible and you won't know for sure unless you go.
I think it's usually worth going at least once for the experience.

 

It seems like Morgans and Peace have gotten a huge boost in popularity due to the 2021 100th anniversary releases. Last December I bought a nice clean white 1921 Peace MS61 for my US Type set for $300. Guy upgraded and sold me the 61. Looks like you can’t touch a 61 for much under $600 now. Some going in the $800s. PCGS, NGC, old anacs, no difference. Never seen a spike like that. May be temporary. There isn’t a lot of stock available so if a bunch of people all of a sudden want 1921 Peace dollars, there goes the prices.

 

I hate it when people say this kind of stuff...just get over it and TELL US!