Parsippany, NJ Coin show report!

Those kids are right about you being a good person. I really like those dealers who give out freebies to YNs.

 

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Ankur how did you make out overall? How many sales did you have? How much inventory did you have displayed? Were you in the black as far as investments for this show? Which coins were drawing the most attention? How much was table rent if you don't mind? Feel free to answer none or all of these questions. Or PM me. I'd like to do shows oneday.

 

Well that Washington sig turned out to be a dud, so the collector who traded me decided to buy the chain cent outright for cash. So sales were pretty good. Profits were decent. I prefer to keep the exact numbers to myself though.

I had about 45 coins on display with a handful of bust halves, walker halves and about 20 commems that were on consignment.

I split the table with a friend do rent was $50. Many coins for sale were those I upgraded or bough specifically for resale. The most attention getter was a chain cent that did sell to the collector mentioned above. People walk around the show with a greysheet in hand which makes it tough to sell. I don't use sheet a I try to buy exceptional couns and often pay strong money for them. At the end if the day to me the statement that nice coins aren't cheap rings true. But you can't convince dedicated sheet buyers of this.

 

Well thanks for answering. Yes, I guess that is personal information. I just wonder about these shows. Are they actually a money maker... is it totally hit or miss, or is it more positioning to get some very nice coins for cheap. My starting inventory would be roughly 50 slabs worth about 8-10k total.

 

It's very hit or miss. Last show I also did well. The one before not so much. Once you get a following it does help. I'm more about quality than quantity.
The last thing you'll see in my case is row upon row of Morgan dollars. But some things I wholesaled just to move them out.

 

maybe it says something about this site but I read that as...

I'll pay gas and trolls.

 

You callin' me a 'troll' dear fellow?

 

Here are two of my pickups from the show:

 

One sweet Lincoln (Illinois Centennial) AnkurJ!

 

How about devising a plan to come to the World's Fair of Money in Philly?

 

That's a plan that's in the works too.......

See? I can still type and not be silly........silly in Philly

 

Parsippany Coin Show is tomorrow, Sunday February 14th (delayed a week due to Super Bowl).

Should be a good show, one of the better ones since it's winter. I am probably going and will report back.

Anybody else in the NYC Metro area thinking of attending ?

 

SHOW UPDATE: Got to the Parsippany Coin Show a bit before 11 AM. Attendance was a bit down from the last time I was there, probably because of the cold weather (was -2 when I left at 10 AM).

Dealers were down a bit from the past. 1 aisle was almost empty. Didn't see anybody selling large amounts of gold bullion, including slabs. Maybe they haven't been buying that stuff at recent shows and wasn't worth it to come up or bring that merchandise.

Did see some very nice Saint-Gaudens. A bunch of mid-1920's in MS65-66 stood out. Prices seemed to be a bit high but not unreasoable (I recall $2,360 for an MS-65 or 66 1923-D). Ditto an MS-27 which I am sure was MS-66.

Good selection of Morgans, early colonial stuff, large and small cents. Currency dealers seemed out in force and getting some looks. Saw a nice $500 and $1,000 bill but out of my price range since I am job searching. Didnt' see too many people selling modern stuff like ASEs in addition to gold bullion; seemed like many many more at the last Westchester show I attended.

More small/local NJ shows (Hackettstown, Old Bridge, Wayne, etc.) Feb/March/April so I may try and hit those, too. If anybody is going, maybe we can hook up.

 

Snagged this from the older gentleman with a lot of gold in the middle row today. I like the parssipany show. The last two months have been slow, hoping next month everything will get back to normal.

 

Yes, Jdiablo, I think that's the guy that had a bunch of Saints. I remember that 1914. Can I ask what you paid for it ? Any negotiating or trade-in ?

I have 1914 on my "to buy" list.

 

I went to a couple of dealers and asked around. Said I just needed a common date St for around 1400 or so. Guy was looking for a bit and spotted the 1914 and said he can give me that one for that price. I was pleased,got a semi-better date out of the deal and saved a few hundred as most were asking 1600ish range for what I was looking for. Can't wait to go back in a few weeks.

 

Let's hook up if you want. We can meet at the show or maybe go for a short lunch or coffee nearby. I also have to attend the Westchester show because I need to buy a slabbed gold Eagle for my father so he can give it to his granddaughter (my niece) for graduation. I didn't see ANY yesterday so even though I may go back to Parsippany I think I'm gonna have to get the slabbed Eagle at Westchester (I hope).

BTW, good price on the Saint. Congrats, and enjoy !

 

Parsippany Coin Show later today....I'm going, anybody else ? I'll be there ! Blue North Face jacket.

 

SHOW UPDATE for March 6th 2016:

Got to the show about 11:45 or so. BTW, the dealers set up about 7:30 AM and you can pretty much get there anytime after 8 or so. Was told that pros and other dealers come by before the public and look stuff over and then get out before the rush. But it's apparently not exclusive, so if you are an early-bird, get there 7:30 - 8 AM and have the place to yourself with other experts.

I noticed a few new dealers today. One guy had lots of common Saints at very competitive prices; 1927 (very popular) and 1923's (less seen). The '23's were at MS-63 and 64, right below the huge 'kink' at MS-65 where the price skyrockets. I saw lots of dealers with Morgans. But I was focusing on who had high-end stuff (CC's, tough years, DMPL/PL) and I would say only 1 or 2 out of a dozen-plus dealers with lots of Morgan inventory nonetheless had more than 2 or 3 coins that were DMPL/PL stuff.

One guy did have lots of high-end Morgans, with quality DMPLs. He had an 1888-O MS-66 CAC that was listed at $2,900 and change. Also an 1887-O MS-65 PL CAC that was listed for $8,500. Lots of MS65, 66, and even 66+ coins in what looked like tougher years, CC stuff, and DMPL/PL categories. If my budget allowed for it, I might have done some serious sniffing.

Didn't see alot of GSA Morgans; at the Westchester show last year there were 1 or 2 guys with dozens of them for sale (saw 1 guy buying 10).

Some currency dealers out in force: a few with exclusive currency stuff and others with a case to go along with their coins. Saw a nice $500 and $1,000 bill. Can not believe how much a top-quality $20 Gold Certificate costs -- wow !!

Saw a guy who had these nice "coin slab anglers" -- that's what I call them. They let his 10-12 coins stand at an angle instead of laying flat. Not practical for hundreds of coins, but VERY NICE for your top selections. I was thinking it's also a good way to showcase your coins in a hutch or display case, too. They are like picture frame plastic thingys that you would put a picture in and the plastic frame back end angles the picture. He said he bought a bunch years ago but they don't make them anymore -- anybody hear about these things ?

Oh yeah, the coins ? Well, he had a $42,000 coin which I didn't write down the name of (sorry, was more impressed with the coin angle things !! ). It was an early-1800's 5-star coin or something. Said there was none or 1 higher-rated. Had it graded at FUN under the priority system there; took 4 hours to get it back.

Stayed about 75 minutes and then visited my sister and niece. There's a good Chinese restaurant 3 minutes away that we used to go to with her and her family like 15 years ago when they lived nearby; if anybody wants to hit it in the future after the show for a Sunday lunch or dinner, I am there. Just ping me before a future show.

That's about it.