Wednesday - 8/17/22 - ANA show report

Discussion in 'Coin Chat' started by ddddd, Aug 17, 2022.

  1. ddddd

    ddddd Member

    The quick recap: show good; items bought and sold; coins submitted to PCGS/NGC :p

    For those wanting a little more detail, read further. :)

    ~Arriving a little after the 10 AM open, I was glad to see the check-in line was small (unlike Central States where it was spiraling through the building-although that was partially based on some glitch where they could not check people in)….there were plenty of people on the bourse, so the short line was not an indication of low attendance
    ~My first stop was the PCGS table to submit several coins; again I was pleased to see no line-only a few people sitting at chairs already being helped (at Central States there was a fairly long one around the same time). In this case I’m not sure if less people were submitting coins or if the volume was just more spread out over the course of yesterday, today, and the next several days. The reps at PCGS were helpful and the process was a breeze.
    ~Next up was the NGC table; they have a decent show grading special that is $30 per coin (for any US non-gold valued up to $300) and there is no minimum. The non-show price is $23 but when you add shipping both ways, the show price is very favorable. So I took advantage of that to submit two coins. There was no line here either and the process was as smooth as the PCGS sub.
    ~With grading out of the way, I perused the floor, looking for anything that might catch my eye (toners, world, old slabs). As is often the case, a lot of tables had common date Morgans in quantity. There was plenty of other material (currency, ancients, world-German, Latin American, etc) to satisfy all sorts of collectors. Several world mints were there too (US Mint, Canadian Mint, Holy Land-Israel).
    ~An interesting thing that I noticed was that there weren’t as many older holders as I’ve seen before. The rattler craze seems to have strong momentum and dealer inventories were low. The ones that had a rattler or two priced them strongly (I saw some common date Morgan rattlers in 63/64 priced at 65+ pricing-I’d say about $50-$75 over what they bring in auctions).
    ~Someone on here mentioned seeing a lot of AT coins. I wanted to check for myself and I’d say that was a bit of an exaggeration. There was one table that had around 10 moderns that I thought were questionable (mix of all the top TPGs plus some lower tier slabbers). Otherwise, the majority looked market acceptable (including plenty of Morgans that had typical bag or album toning).
    ~The bourse is large and it is a challenge to see everything in one day; I made a full tour but am sure I missed some tables as there was just too much to see
    ~Dan Carr collectors-from what I saw, the pickings were slim. There was one dealer that had a handful (I recall a few Carr Barber Halfs) and another that had a Carr Gold Mexican Caballito. That was it. Of course I could have missed some that sold or were tucked in a corner of a table.
    ~People were buying and selling. I saw plenty of deals done, checks written, cash exchanged. I did not notice much bullion activity. Several dealers that specialized in bullion were there and I’m sure some sales were happening-I just didn’t notice much during my visit.
    ~I always go to these shows with at least a few things to sell (to move items that no longer fit my collection and to finance any purchase). This time I only had four items (didn’t have much else that I wanted to part with yet). One Morgan sold fairly quickly but the other three coins didn’t find buyers. Two were world (one esoteric while the other a bit more popular-but still not something that is as easy to sell as a Morgan) and one was a different toned Morgan. The Morgan that did not sell received some positive commentary-a few dealers suggested sending it to auction (they felt it could reach my ask or even higher but didn’t want to take the risk themselves-fair enough).
    ~On the buy side, I found a few coins that I liked. One toned Morgan I considered but ended up walking away (price was about right but I decided it just did not have enough “pop” for my liking). Another Morgan did come home with me. The picture will be posted below. I had two more buys-both world. One is a modern that was priced right (I already had one but this one was less-I’ll end up selling one of them and hopefully averaging down my overall cost, so no photo here) and the other was a toned Russian Rouble (picture below). You don’t see these toned too often; I liked the look and the price was fair.
    ~Overall it was a good day-any day spent with coins is a good one!

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  3. BryceS

    BryceS Member

    I appreciate you taking the time to document some of the happenings at the show - it seems like a blast. I also really like the toning on that Morgan Dollar that you picked up. She's a real beauty! I'm not sure if you looked closely or not, but from what you could tell, how reasonable were prices on Capped Bust and Draped Bust coinage (specifically dimes, quarters, and halves)? It seems like prices on those coins have been incrementally going up, and even so, dealers still often have them well above greysheet prices.
     
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  4. ddddd

    ddddd Member

    Thank you!

    I saw several tables that had Capped Bust coinage (less with Draped Bust), including one or two that had all raw. The raw ones looked to have a mix of problem coins (makes sense that they are raw as grading would not make financial sense). I didn't ask for any prices since that is not an area I tend to focus on. The only thing I vaguely recall is seeing one of the raw ones have a mid three digit price marked (~300) but I don't remember the date so I know that number means little (plus the dealer could have been willing to go lower-given that all three of the coins I bought from various dealers were discounted from the price marked).
     
  5. okbustchaser

    okbustchaser I may be old but I still appreciate a pretty bust Supporter

    The bust material was present in all its glory at several tables. I thought prices were crazy high, but since it was selling that is evidently the current market.:(

    I did manage to pick up one half (see the new acquisitions thread) plus I won a couple at auction.
     
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  6. ddddd

    ddddd Member

    Thank you for the info!
    Many things were priced high in general (that I knew the market value for) but that is generally expected at these big shows. Still there are deals to be found (or at least coins that can be bought for less than moon money).
     
  7. Collecting Nut

    Collecting Nut Borderline Hoarder

    Nice write up and glad your having a good time.
     
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  8. BryceS

    BryceS Member

    Thanks for your response. I've only ever been to a handful of smaller coin shops, so I don't have a great sense of what "crazy high" prices look like. With that said, from what you noticed, what percent over greysheet would you say most of the raw bust coinage was at?
     
  9. jtlee321

    jtlee321 Well-Known Member

    Thank you for the great write-up! I wish I could get to one of these large shows! The last time the ANA was here in Portland was around 2009. I wasn't a collector like I am now. So I did not enjoy it the way I would now. Hopefully it comes back here soon.
     
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  10. Publius2

    Publius2 Well-Known Member

    Great reportage @ddddd. Love about to hear about collectors' and dealers' impressions of shows.
     
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  11. Mountain Man

    Mountain Man Supporter! Supporter

    Thanks for the posting.
     
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  12. okbustchaser

    okbustchaser I may be old but I still appreciate a pretty bust Supporter

    Most of the raw halves I looked at seemed to be within 10 to 15 % of TCP prices—and often no discount at all…as for TCP coins, they were anywhere from 30 to 50% over Greysheet AND UP! But as I said they were selling so evidently that is the new market.
     
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  13. BryceS

    BryceS Member

    Thanks for the insight, and wow are those prices expensive! :( I guess I'll be sticking to auctions.
     
  14. Vess1

    Vess1 CT SP VIP

    I didn't end up going today. I could have. The thing is I could get there when the doors open and spend the entire day and still feel rushed. The show is so big I don't feel like I can absorb everything I want to see in a day so I didn't make the drive. Busy at work too. With the crazy high prices maybe my wallets happier too. lol

    In 2011 I went to it and silver was $40 an oz. I brought some decent bullion in and traded on some nice material. It felt rewarding. Today, 11 years later, silver was below $20 (while inflation is raging!) So if I wanted to bring any bullion to help with purchases I'd be trading in silver that cost me practically $30/oz to acquire, for under $20. Giving it away at a loss. PM prices are a total joke right now. And I bet nobody's selling silver for $20 an ounce there. I like to use it as a supplement sometimes on larger purchases but not when it's this bad in the red.

    I had a great time at last years. Grabbed several nice ones on my list. This year I didn't prepare well for it. Don't have anything to get graded, don't have anything I want to trade, PM prices are in the tank, I wasn't able to stay over night and it's busy at work. But I truly hope everyone else is having a great time there. Gotta love the on site grading. I bet they were busy. They didn't have it last year.
     
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  15. ddddd

    ddddd Member

    I feel you on the silver prices. I didn't stock up but I have some silver that was bought in the $30-$40 range too. I also regret not selling all my silver proof sets during the peak in 2011 (spot for the silver in them was more than most of those sets sell for today). But to be fair, I was still collecting them back then so I only realize this in hindsight (and we all know the cliché there).

    As mentioned in my post, I like to bring some items to sell to these shows to help offset any purchases. However, I have very little at the moment that I want to part with (besides some of that silver that is underwater and not worth selling at such low levels).

    As for the on site grading, surprisingly there were no long lines at NGC or PCGS. At Central States in April the line was fairly long at PCGS (NGC did not have on site grading at that show). It is possible that people submitted on Tuesday though or the volume was more spread out (vs mostly in the morning of the day I was at Central States).

    Hopefully you will be able to make it to a future show.
     
  16. ddddd

    ddddd Member

    If you saw the thread on CU (as well as some past threads), it seems like the options for the ANA show are limited, with Chicago (Rosemont) being the most common (although next year it is moving to Pittsburgh). It is one of the more central areas, is close to the airport, and the ANA is able to make a deal with the convention center (while other cities make it tougher/costlier). Several years ago there was an ANA show in Denver and the reports were fairly mixed (attendance was reportedly down and dealers weren't too happy with the level of business). The Long Beach show in California might be the largest that is relatively close to you (and might be worth taking a trip to if possible).
     
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  17. wxcoin

    wxcoin Getting no respect for 66+ Supporter

    One of these years I'll make the 5 hour drive south to the show. Sounds like fun.
     
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  18. jtlee321

    jtlee321 Well-Known Member

    My local dealer around here has told me that our area is great for buyer as prices are low because nobody around here will pay higher market prices. It's one of the reasons that the ANA Money Show has not been back because the sales were not enough to make the dealers happy.

    The good news is, I can get good deals. The bad news is nobody really wants to sell here. So it can be slim pickings.

    I would love to make a trip to the Long Beach Show or stretch for a FUN show. Someday maybe. If I can get my photography business to really take off, I can maybe set up at one of those shows.
     
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