Review of GSNA (NJ) Show

[TomB]

I just got back from the three-day GSNA show held in NJ and I notice that there are some threads already started that seem to refer to the show. Please accept my apologies for possibly posting information that is already contained in those threads, as I have not read through them all yet.

 

The brief review:

The material flew out of the cases faster than I have ever seen.

 

The more detailed review:

The GSNA show is held on a decent-sized floor, perhaps somewhat smaller than a regulation basketball court, and as usual, I shared a table with my good friend Bob. Dealer set-up, on Thursday, had fairly brisk activity going on, but that is no assurance of the public wanting to buy anything. I bought one Barber half in VF during set-up and sold three other coins. That's a lot for me. Once the doors opened up there wasn't much public traffic, however, those who made the effort to attend on Thursday were there to buy. I spent a delightful afternoon (One hour? Two hours?) talking with John Wihlborg about coins and life. John was kind enough to bring some wonderful examples from his collection for "show-and-tell". Although I am probably associated with toned coins, John brought some beautiful white commems with him and I found them so attractive because they had the look. That's a subtle key that many people forget or never learn, coins should have the look. By the end of the afternoon, I believe I had worn down his resistance, and he ended up taking home with him some attractive dimes. Also stopping by was Chris (I'm not even going to try to remember how you capitalize and/or spell your board name of noobie). We had met previously at the Parsippany show and I think he will start posting here at NGC, at least for a while. At the close of Thursday I would estimate that 60% of both Bob's and my inventories were sold. At 4:50 AM the fire alarm went off in my hotel and I quickly got dressed and brought a case of show material with me to the parking lot. It was a false alarm and at 5:20 AM we were allowed back in the hotel. I did not sleep well after that but did get the night free because I wasn't "100% satisfied".

 

On Friday Jeremy stopped by and complained, complained, complained about the Volvo that his folks had given him. He brought some coins with him and I believe he even sold some. On others, you could tell there was a difference of opinion on how I valued them and how he valued them. Of course, I deal with that all the time when people tell me my coins are ugly! Jeremy seems to have quite the reputation as security kept a close eye on him all afternoon, could it be what I said about him to them? Another person who stopped by happens to be a lurker on these boards and it is always good to see him as the GSNA is about the only show we get together. Friday's floor traffic was slow and buying was slow. I went to dinner with Jeremy and my friend Bob. We went to an Italian place and had a long, relaxing dinner. Upon leaving, a group of four women in their 20s and 30s, who had been sitting very close to us, stared at us and burst out laughing! I still don't know why.

 

Saturday was a fairly quiet day, with a tour bus of coin collectors getting to the show immediately as the doors opened and several board members meeting at our table. John came by again and made the buy of the show, in my opinion, but he will have to tell you about it because I don't want to spoil it. Jeremy hung out for most of the day and GP came by for a bit, as well as the "lurker". I think GP gave me his annual "sympathy buy" just to make me feel better. I was also able to meet up briefly with EVP, which is always nice. DaveG also came by and had some cool stories about finding rare books and his "Golden Pricess", did I remember the name right, Dave? He also went to Tom Hyland's table, and those of you who are familiar with Tom can appreciate that Dave must have walked away with something nice. Scanning the floor, I picked up another VF Barber half and a VF 1773 four reales from Bolivia. They are nice coins. As we were packing up it seemed that it was nearly unanimous-the show was a great success for all who set-up. I also heard an early review of the PAN show, in direct conflict with our show, and that review said the show was slow.

 

I had a great time and will try to get images of the coins that I bought up soon.

[cladking]

Thanks for the report.

[DaveG]

I went to the last day of the three-day GSNA Annual Show today.

 

There were about 50-60 dealers there. Floor traffic at this show on Saturday is usually pretty light (but steady) and this year was no different. Because the show was competing with PAN in Pittsburgh, a couple of the larger dealers weren't there. One dealer I spoke to expressed annoyance that the bigger shows (Central States) were changing dates, forcing other shows (PAN) to move to accomodate them, which messed up his schedule - he was at GSNA and therefore couldn't go to PAN, which he usually did.

 

The dealers I talked to said that they had a great first day on Thursday and sold a lot of coins to other dealers. I spoke to one dealer who said that he had paid above GreySheet Ask to buy a group of key-date coins.

 

I had a good time talking to TomB, Airplanenut and Wihlborg. Wihlborg had some killer Buffaloes with him and Airplanenut was, as usual, chasing discolored reasonably modern coins. TomB was actually trying to offload some Roosevelts which had apparently become horribly discolored during the 97 days they were at PCGS to be graded. Tom also had some really nice type coins, including a very, very nice proof Indian Head cent and a really nice proof Liberty nickel.

 

I saw a couple of NGC-slabbed AU no-motto O-mint eagles, but I thought they were too bagmarked to buy. I also saw an NGC AU-50 1848-O half, but it had a rim nick, so I passed. Other than that, I didn't see a whole lot of pre-Civil War coins, except for Bust halves. I saw a decent amount of gold, but mostly post mid-19th and 20th century stuff.

 

For myself, I didn't see much that was tempting, except a nice (very original-looking) raw XF 1916 Walker. (I originally thought it was expensive, since I hadn't updated my notes recently. However, instead of being just above Trends, the coin was really just above Bid! - now that's a market that's moving!)

 

As for my "Golden Princess" - I brought it just for "show and tell", but when they saw it, both Tom and Jeremy actually said "What do you want for it?" and Jeremy said "You'll get that in a slab easily." Naturally, I couldn't put a price on it, because how can I price a truly one-of-a-kind coin!

[airplanenut]

He brought some coins with him and I believe he even sold some.

Nope... but I did spend a few hundred dollars.

 

As for Whilberg's purchase... let's just say I'm proud to have locked the deal on photographing it... DROOOOOOOOOOOOOOOOL!!!

[nOoBiEeE-migration]

Nice report and thanks for the mention in your post.. For those who have yet to see TomB's coins, they are superb. Sorry I disturbed you from eating.. , I think you were eating some French Fries, wonder how soggy and cold they were once you started eating again.

[EVillageProwler]

I really liked TomB's 1921 SLQ in Fine. Extremely full date, which shocked me. And, original as heck!

 

EVP

[Wihlborg]

Well guys, I’m sorry it took so long for me to give my take on what transpired on Saturday at the GSNA show, but to be perfectly honest I have been in an non stop adrenalin rush since I was with you all on Saturday. I have been thinking for some time about how I should start this post, and I guess I should just begin at the beginning, so here it goes…..

 

I had already gone to the GSNA show on Thursday, but I was in the area again on Saturday for a few hours, so I figured I would stop in again to talk to TomB, and hopefully meet some of the other board members. I got there for the 10 a.m. opening, and the first thing I did was go over to Tomb’s table to say hi. Almost as soon as Tom saw me he told me about this amazing Delaware commem that he and Jeremy (Airplanenut) had seen on Friday. Tom said that the dealer had only bought it Friday afternoon, so he knew I had not seen it on Thursday.

 

Now, when TomB said that I had to take a look at the coin, you better believe that I was very interested in laying eyes on it, but I had literally just gotten there and was still saying my hellos to Tom, and didn’t want to run off immediately, although I am sure Tom would have understood if I had!

 

Within a few minutes, GP arrived and soon after, Jeremy joined us. GP & Jeremy had brought some of their coins and showed them to us. I had a few of my coins with me so I offered to show them to GP & Jeremy. As soon as Jeremy saw some of my commems, he proceeded to tell me about this jaw dropping Delaware commem that he and Tom saw on Friday, and how I had to see it.

 

Well that was it, WHERE IS THIS COIN? I asked. Jeremy took me over to the dealer’s table and pointed down at a spot in one of the cases. I stepped forward and looked into the case…

 

What I saw gleaming back at me was incredible! It reminded me of the scene in The Wizard Of OZ, where Dorothy first sees the horse of a different color. She knew she was looking at a horse, but yet, she had never seen a horse that looked like this one before!

 

My horse of a different color was a Delaware commem housed in an NGC holder that had an obverse toned in neon colors unlike any I have ever seen on a Delaware before. Immediately I asked to see the coin. I was so taken by the obverse, that after the dealer handed it to me I spent a minute or two looking at the obverse under a light, and then I turned it over…

 

I thought to myself, Oh my god! Was I really seeing what I thought I was seeing? The reverse had unbelievable tab toning in shades of neon purple, and green set against a background of gold!

 

After some negotiation over the price with the dealer, I bought the coin. I walked back to Tom’s table with my new prize in hand. Once there I showed the coin to Tom, Jeremy, and GP, as well as DaveG, who had arrived during my negotiations with the dealer. They all offered their congratulations on my acquiring the coin, and Jeremy asked if he could photograph the coin. I told him that I would be thrilled if he would photograph it for me.

 

Meanwhile, while all this was going on, quite a crowd began to gather around Tom’s table asking if the coin was for sale! Everyone who saw the coin said that it had the nicest tone they had ever seen on a Delaware commem. By the time I left the show I had a number of unsolicited offers on the coin, including one that was almost double what I had paid for it only an hour ago!

 

I will be having Jeremy photograph the coin for me, but until then I wanted to at least post a photo to share with the board however pathetic it my be. Once Jeremy photographs it I will post an update with Jeremy’s pictures. So here it is...

 

John

[bigd5]

Darn that's a nice looking Deleware!

 

I haven't seen too many like that floating around, that's for sure.

 

Congrat's on that one.

[DonHeath]

Thanks for the report. They always make me wish I was there. Congratulations all on a sucessful show, and John.........WOW, what a coin. Great score.

[GP_]

Great write up Tom

It may be a "sympathy buy" but I am sure happy with it! I

 

As usual I blew my entire coin budget at Tom's booth, which really wasnt hard considering all the awesome Roosevelts he had out! Had I not gotten my tuition bill on Friday I most certainly would of gotten at least two more of those famous PCGS Rooseys

 

Wihlborg, once again congrats on that amazing commem! Anyone that thinks it looks great in that pic should see it in hand! I think the drool had to be cleaned off the slab several times that afternoon!

 

Overall I had a great show and definately need to get there for Thursday next year (with a much larger budget as well). It was great getting to see all the great coins everyone brought to show off, thank you all for sharing

[EVillageProwler]

I was only at the show for about an hour (does that seem right, Tom?) and found precious little that caught my eye. Sure, there was stuff that was good, but not the earlier (Bust, Seated) silver stuff that I like.

 

I did see two 1836 RE halves slabbed by PCGS: PR60 and PR63. The latter is ex Harry Bass. I also saw a number of slabbed Seated material, but none reached out to me as better dates or having uber eye appeal.

 

One dealer had some nice early gold, including a couple of latter date Mint State draped bust eagles. Slabbed by PCGS.

 

I searched for Bust halves. Pre-turbs as well as turbs. Saw a bunch, but none with any eye appeal that matched the grade.

 

One dealer had a huge inventory of seriously off-brand slabs, while another had a large inventory of self-assigned, over-graded raw coins.

 

Like I wrote earlier, I was most impressed with Tom's full date SLQ in Fine. It seemed more desirable to me than the stuff that a specialist in that series was offering at his table. Seriously, folks, if you want a piece worthy of true discussion that should NOT cost as much as a new car, you'd do well to discuss the coin with Tom. Aside from the date, it's also original as hell and looks like a very honest collector's coin. (I'm saying this even after he dissed me *and* told me that dogs aren't welcome in his home!)

 

Oh, almost forgot... I saw a spectacularly toned Frankie at the show. Don't know the particulars, as it ain't my series. But, it was an MS coin with awesome luster and very vibrant colors. And, there were the artificially toned fishing lures at TomB's table! (j/k!)

 

EVP

 

PS I also met John and and DaveG (2nd time). Of course, nice guys both!

[EZ_E]

And, there were the artificially toned fishing lures at TomB's table!

 

Oouch!

[DaveG]

EVP:

 

It was good to see you again!

 

Forgive my ignorance, but isn't an SLQ in Fine supposed to have a "sharp" date?

 

At least that's what Photograde says for the 1917-1924 coins.

[EVillageProwler]

DaveG,

 

I don't grade by Photograde, and it isn't accurate for the entire series anyway. Prior to 1925, the date was a significant high point and any SLQ *that* circ'ed would have a large portion of its date gone.

 

1925 - 1930, however, is a different story. The date got recessed and became protected by the stand on which we see Miss Liberty.

 

I am looking at my '04 Red Book, and it says for VG that the coin must have a "distinct date". No mention of the date for any other grade, nor does it mention a distinction for the high relief date.

 

In paragraph three of the Red Book section on SLQ, it says:

 

"In 1925 a depression was made in the pedestal on which Liberty stands and which bears the date. On earlier issues the dates wore off easily because they were too high and were not protected by other features of the coin. ..."

 

EVP

[TomB]

Sorry about dissing you and your dogs, EVP! In truth, my in-laws had stayed with me and my wife all last week and they brought with them their very large dog. The dog stayed in the house, along with our three indoor cats, and I'm not used to that. So, perhaps I was a bit rash in saying that I don't like dogs.

 

DaveG, you bring up a good question about EVP's observation on the 1921 SLQ. The Type II SLQs (1917-1924) have a raised date that tends to wear down extremely quickly. It is not unusual to see a 1921 SLQ in otherwise VF condition that has only the upper third of the last 1 visible. That is how most mid-grade 1921 SLQs are identified. The coin in question has not only about 95% of the date intact, but it is also strongly visible. That is truly surprising on a 1921.

 

I don't know if John realized it or not, but two of the folks who so desperately wanted to buy his Delaware commem from him got into a somewhat heated disagreement about the coin later on. I wouldn't go so far as to say it was an argument, but these two guys are friends who weren't too happy with one another both offering to buy the coin. Your best solution for a happy ending; sell it to me when you are done with it!

 

As EVP mentioned, there was very little to buy on the floor. Of course, EVP and I don't always travel in the same numismatic niches markets, but we both experienced the same disappointment. There were some nicely toned coins around but they didn't seem to be nice enough for the asking price. There was also a decent number of original VF CBHs and these were typically later dated coins. The CBQs on the floor that had any eye appeal typically had some sort of issue with them that precluded a purchase. There was one very nice 1853 A&R quarter in NGC MS65 with deep, original rainbow toning on it that was truly a cool coin. The 1836 RE halves also did nothing for me. For those of you wondering why I let the Delaware slip through my fingers, here is a show purchase that tapped some bucks from my budget-

[EVillageProwler]

TomB,

 

That's a lousy '94 half you bought. It's clearly been repaired, tooled, cleaned and retoned. I'll give you a 50 for it!

 

 

EVP

[DaveG]

Thanks for the clarification on the SLQ (one of a number of coin series of which I will cheerfully admit to knowing nothing!).

 

Tom, I agree with EVP - first you buy that ugly 1796 quarter, now this!

 

Where will it end?

 

 

Oh the Humanity!

 

 

 

 

 

By the way, Tom - Bob's truly impressive Morgan is in an NGC5 slab, used from 1992 to 1997.

[Wihlborg]

I don't know if John realized it or not, but two of the folks who so desperately wanted to buy his Delaware commem from him got into a somewhat heated disagreement about the coin later on. I wouldn't go so far as to say it was an argument, but these two guys are friends who weren't too happy with one another both offering to buy the coin.

 

 

Tom,

 

Yeah, I kind of got the feeling that the person who was looking at the coin first was not too pleased that his friend came over and made an offer on the coin while he was still looking at it.

 

I know, that you knew who they were, but I had never meet them before, so when the first gentleman introduced himself, his name was somehow familiar to me, but I did not realize until much later that night who he was. I don’t know if you knew that both of them gave me their business cards and asked me to call them if I ever want to sell the coin.

 

I had mixed feelings at the time about everything that was going on Saturday. First, I was thrilled that I was able to purchase the coin, because to be honest, I didn’t think that the dealer and I would be able to come to terms on the price. Second, I was a little overwhelmed by all that went on after I got back to your table with the coin. I mean, it was unreal how someone would see the coin, go off to find their friend, and bring him back so he could see it also. I heard the coin described as a ‘monster’, a ‘moose’, and an ‘auction coin’, and of course the offers to buy it were extremely flattering. However, I did feel a little awkward while all this was going on because the dealer I bought the coin from was only a few tables away, and would look over from time to time to see what all the commotion was about.

 

Finally, after having a day to let this all settle in, I would like to thank Tom & Jeremy for letting me know about the coin in the first place, as well as everyone, both at the show as well as on the board for their very kind congratulations and comments about the coin.

 

I would however, especially like to thank TomB for being someone who I conceder a true friend!

 

Thanks Tom

 

John

[TomB]

Thanks for the kind words, John, I appreciate them greatly! Just so you know, one of the two folks who made an offer is a judge and the other is an MD. So, if you ever decide to sell the coin, they got the money! The dealer you bought the coin from has a retail shop, does quite well in his business and doesn't mind giving out deals at shows. He approached me later in the day and seemed honestly happy for you.

 

By the way, the look on your face was one of "surprise" for lack of a better term, while all the commotion was going on.

[LanLord]

Wow, I would be proud to place that Delaware into my collection.

 

Quite a piece.

[chinook]

Great looking coin John.

[DirtyGoldMan]

Great thread. It's interesting to hear about a show from a number of different perspectives and especially so when all of the attendees are friends. It almost makes me want to relocate to the NY-NJ area...almost.

 

Nice pick-ups (to those who made them).

[Hoot]

This is a fantastic thread. Thanks for the great reports and also for the unfolding sagas that took place at the show! I like the coins shown and the descriptions very much.

 

Hoot

[MikeKing]

Thanks for the insight into the show. I wish I could have made it. Would like to have met you guys. Maybe next time.

[classicalman-migration]

Tom, I always enjoy your show reports. You have a good grasp on the "feeling" of the show. As usual, I envy the opportunity for those who have a chance to meet in person at these shows. And those pics of the coins that were purchased....just awesome!!!! Thanks for sharing...

[michael]

ttt