As per usual, I appear to be about a week behind all the other FUN show reports that come streaming in from all directions. I’d like to explain how I am just so busy with scores of new purchases that it takes several days to get around to writing anything down but, sadly, I wouldn’t want to lie to anyone. The plain truth is that other things seem to take priority and then the days slip away until we come to the point of either writing the report of forgetting about the entire thing. We are at that point. I like to arrive at these shows early enough so that there is little stress other than from being tired from a long day. This works well because you can feel like you’re ahead of the show instead of racing to catch up and it also allows socialization, business deals (many times these go hand-in-hand) and auction lot viewing with little angst. I arrived Tuesday afternoon and while I was definitely tired, I was also definitely early enough to feel relaxed. That was a good thing, too, because a relatively early dinner that would stretch well into the night where my companions would be a table full of extraordinarily accomplished and respected numismatists was immediately ahead. One long time board member whom I had never met was at the dinner and it was terrific to meet face-to-face and exchange ideas on coinage. Also wonderful were the myriad coins brought by the attendees and as we all waited for our dinners the coins were passed around family style like small, delicious side dishes. If anyone who attended the dinner would like to chime in that is fine, but I don’t always like to identify these after-hours companions without prior permission. It was a great way to start the show off with a bang. Dealer set up day is Wednesday and at this show it is a long afternoon because the dealer hours run from 2:00 PM through 8:00 PM and most dealers stayed the entire time, or close to it. Prior to set up I was in the Heritage lot viewing room around 8:00 AM and started to view lots in-hand. A thorough review of material was done online prior to the show, but absolutely nothing beats seeing the coins in-hand. A few clients were kept up to speed before lot viewing and then copious notes were taken during the day as I went through box after box of material. In some cases and with some series it was a joy while with others it was more of a slogging, gut it out, endurance battle. At one point I dropped a slab during lot viewing; this is the first time I can recall dropping a slab and the coin landed harmlessly on my shoe and then slid to the floor. The person helping me in lot viewing had not realized a coin fell, but I told her right away and then sat motionless with my hands on the table until security came by to pick up the coin. The entire process took only a few seconds and I doubt anyone else noticed since we were all calm and kept chatting away. I looked at lots for about five hours and then wrote a few emails to clients, called up a client or two and then headed out for dealer set up. Surprisingly, Wednesday was really busy and every coin I purchased on the floor during those breaks in the action was sold later that day. It was nice to turn inventory at that rate, but frustrating too since I don’t typically buy a large number of coins at any show and I like to bring home cool items for my clients. The activity on the bourse continued unabated throughout Thursday and one again, every coin purchased on the bourse was sold that day as well as every coin I won in the Heritage auction. The best coin I purchased in the Heritage auction, in my opinion, was the 1906-S Barber half dollar in a PCGS MS64+/CAC holder with fabulous, satiny surfaces graced by dusky, golden-green toning. That coin was a killer and seemed like a heck of a lot of coin for the money. That 1906-S would have been one of the anchors for new inventory until a well known board member came up to the table and we met in person for the first time. We discussed the show, collecting, life and whatever else until he spotted the 1906-S and it was soon gone. I was happy for him, but then started to worry that my other clients might not see anything new after the show. The day continued with a similar theme of meeting folks I had worked with or had interacted with on the boards, but had never previously met. There were quite a few folks who came to the table and I will not attempt to list them all because I will definitely forget a few and do not want to do that to anyone. Friday and Saturday continued the familiar pattern of being on the bourse all day, having a steady stream of people come to the table with many spending significant time talking coins and then heading off for a late working dinner with a small group of other collectors and dealers. I was able to buy only a few coins for inventory until the end of the show when a neat group of circulated Canadian coins was offered and this certainly added bulk and original, dirty surfaces to the purchases. Of course, by now most folks are aware that long-time book dealer John Burns passed away during the show. John was one of those people who seemed to be knowledgeable in just about every field and who was approachable and willing to share his knowledge, opinions and stories. We had many wonderful discussions and he had a terrific, dry wit. It was a real kick in the gut to have the show end with John’s passing. Typically, I like to add some specifics about what I had seen on the bourse so that those who could not attend might have a bit of an idea of what it was like “in the trenches”- 1) I am used to seeing lots of PCGS OGH classic gold in dealer’s cases at these shows, but it appears that most of these pieces have been sucked out of the market and/or have been regraded because there were not nearly as many OGH gold coins visible at this show. Perhaps the down gold market played a role in this, too. 2) Whereas I was once able to find a really wildly toned WQ or two at nearly every show, it has been a while since a true stunner has been seen on the show floor. Those few wildly toned WQs that are found now seem to be priced to a level that takes my breath away. The price level may or may not be a concern, but the lack of material makes me somewhat sad. 3) A score of fairly attractive Lafayette dollars appeared from thin air. These weren’t monster coins and I doubt this is some hoard, but they are more readily available than in recent years. 4) Crusty mid-nineteenth century coins look like they may be getting the love and attention that they have always deserved since fewer of them are around and those that were found were priced much more aggressively than in years past. This applies to common dates as well as better dates and key dates. 5) A few 1839-O RE half dollars were offered in mid-grades, but nearly all were, how should I put this…awful. Folks, if you have a choice 1839-O RE half dollar with terrific surfaces then you have a rare bird, indeed. 6) Oddly enough, a well respected board member pulled me aside to show me his new 1839-O RE half dollar with incredible, frosty surfaces and oozing life. 7) The bridges that can be built with other dealers and collectors when out to dinner can be the bridges that bring fantastic coins and buying opportunities your way later on. I pay aggressively for great coins, but it wouldn’t matter much if it weren’t for those folks I consider my friends and colleagues. 8) If you can’t make it to see auction lots in-hand then pay the very small fee that reputable dealers charge for auction lot viewing. This might mean spending an additional 5% on a coin here or there, but it can also mean that you won’t be stuck with what can only be called a pig if you misinterpret an auction image or description. 9) The talk of metals did not seem to dominate the mood of the show, which is in contrast to some recent shows. 10) PCGS was absolutely swamped with submissions and of course the waiting was frustrating, but they are professional as always and deliver a fine service. 11) The winter FUN show, summer ANA and fall or spring Baltimore shows are killer good.
My business name is Thomas Bush Numismatics, but at these larger shows I set up with Bill Shamhart and we hang his business name (Numismatic Americana) on the booth. We were set up at table 1112.
Tom B; I'm glad to hear business continued to be good for you at the show. I stopped by with Doug on Friday and business was strong then. It was a pleasure to finally meet you since your name comes up so often on Coin Talk. My hunt at F.U.N. was for a solid, mid AU53-55 twenty cent piece, which I found. In March at the Baltimore show, I'll be looking for the pair of over and under CC 1875 dimes in the mid AU range. Preferably slabbed by the same TPG. I'll give you a heads up about two weeks before the show to see about your availability. See you there. Until then, keep posting!
TomB, it was really nice to finally meet you in person. Great FUN report -- better late(r) than never.
