2012 Pre-ANA / ANA quick-hitters report

[James_OldeTowne]

First, I've never set up at either a pre-ANA (which in this case is the PNG show) or the ANA but am doing both this week. I have, of course, attended an ANA show before.

 

This AMs quick hitters:

 

- Downtown Philly reminds me a lot of St. Louis, except that it's a little more active around town. There are more pedestrians wandering about, but the tourist traps are a little pricey, too. Transport from the airport to the hotel right next to the convention center was quick and painless.

 

- I ran through the entire pre-ANA auction. There was, uh, nothing for me, shall we say.

 

- I've won two minor items from the ANA auction so far.

 

- Folks had told me that the PNG show(s) are drab and boring, but maybe this one's a little different. Seems like a fun little venue to me, and at least one other dealer said there's a better "vibe" than usual at this one. Maybe because I'm here !

 

- Gonna visit the NGC booth today just for fun.

 

If I get a chance, I'll throw out some more quick hitters.

[michael]

excellent report thanks james!

 

seems like with a strong png day and this bodes well for a strong summer ANA

 

wild!!!!!!!!!!!!!!!!!!!!!!

[Walkerfan]

Have a good one, James. I wish that I was there. Thanks for the report.

[James_OldeTowne]

- Got to walk around downtown a little, and my comparison to St. Louis now seems a little silly. Logistically Philly is way larger downtown, and a lot taller, too. I like it. Very much!

 

I have absolutely zero prior PNG experience, therefore nothing to compare to, and therefore no particular bias for or against how they did things at this show. That being said....

 

- I really like how they arranged this pre-ANA thing-y. Imagine the entire bourse (what.. about five acres??) and then imagine a parcel of it cordoned off. That is where the PNG show is. Some PNG dealers will stay at their tables for the ANA which begins this afternoon. Other PNG deales (the poor ones like me evidently ) have to pick up our belongings and vacate our current table, and move to our permanent ANA tables. But it's a convenient move and we get three hours to manage it.

 

I understand that in years past, the small number of PNG dealers were scattered all over the entire five acres of space, making it very inconvenient to walk from table to table. Heck, have you seen some of these old boys? Do you really think they can walk that far ?? Just kidding, of course.

 

- I was EXTREMELY busy yesterday. We got to our table at precisely 9:00, and I literally did not get out of my seat for five hours. Finally, at 2:00, I had to interrupt the current customer so as to take a potty break. Luckily I'm right next to the bathroom, and only lost 90 seconds of customer face time.

 

Yes guys, I did wash my hands.

 

- Buying and selling were excellent at our level, which is generally coins in the $300 to $1500 range. Generic gold is definitely soft right now. It seems to me that better gold is also pretty soft.

 

- World coins seem to me to be VERY strong. In particular, a number of our good friends from China are on the bourse and aggressively seeking out Chinese coins.

 

- I got to buy a coin (yes, count it carefully now... ONE coin) for myself, but it's one I've been looking for FOR YEARS. A 1937 proof Walker ! NGC PF-67 EdgeView, and I'll be cracking it out next week for my Dansco album .

 

- St. Louis has been dry dry dry dry dry the entire summer. And hot hot hot hot hot. Philly? It's rained every day, and as I type this, it's cloudy and grey outside. Send some H2O our way, for Pete's sake.

 

 

[michael]

wow great report it appears that you did some powerful biz at your table james

 

GOOD FOR YOU!!!!!!!!!!!!!!!!!!!!! good coins and the great personality/reputation combo creates a great synergy in my opinion

 

good insight also james

 

please post a daily show report if you please and you have the time!!!!!!!!!!!!!!!!!!

 

 

[James_OldeTowne]

It's 11:00pm local time, and we only just now got back from the PNG banquet. I must say that given the nerdiness of the typical cross-section of membership, it was an awful lot of fun! The food at Davio's (sp?) was really outstanding, especially as I was able to get fully vegetarian fare.

 

Swiatek received some kind of award for something - book of the year, I think, or something like that. John Albanese was also honored for something or other, but I couldn't pay much attention. You see, I shared a table with none other than CVMcCawley of early copper fame, and Mr. Greenstein of coin doctor committee fame. Talk about a marvelous exchange of perspectives!

 

More to come tomorrow.... I am just way too tired to post anything more tonight....

[AnkurJ]

I just spoke to a dealer friend of mine. He said they arrived at 4pm and it was nonstop! One after another people were at his table to buy.

 

Unfortunately I will not be at the show due to a health issue

[mkman123]

cracking out the walker? Noooooooooooooooooooooooooo!!!!

[AnkurJ]

Took my friend 45 minutes to get in today!

[DirtyGoldMan]

Excellent running report, and thanks to Michael for posting about it on the US forum.

[James_OldeTowne]

cracking out the walker? Noooooooooooooooooooooooooo!!!!

Already done ! Next, I want to bust out a lonely satin-proof buffalo !

 

So here are a few more observations from MY perspective only. Naturally, I target coins for my audience, and other experiences will and should differ.

 

- The buzz on the floor is quite strong, and I don't buy into the mantra that "only PQ moves". This is no exaggeration: ONE HALF of my sale inventory is GONE. We came in with exactly two display cases of coins, and yesterday, I compressed what's left down into one case. No biggie, as we really came here to buy more than to sell.

 

- Our stuff is average more or less, nothing spectacular, but really, average coins are doing just fine, thank you very much. I can get a skinny but understandable 10% margin on normal coins, no problem. I can't speak to the mega-rarity side, nor the bottom-feeder side of things, since we don't have that material with us. (No, we left all the junk back at the shop for our A-list customers ! )

 

- Classic commems actually show a little life IF... and only IF... they are bright, shiny, without haze, and a tad back of greysheet. I don't normally even look at these, since they've been soft for years. In fact, we sell them out of the shop at 20% (yes twenty percent) back of bid! But on a whim, I priced the ones in our case at exactly bid and have been offering them at 10 back, and some have actually moved.

 

- Morgans are OK at bid, Peace dollars are OK at 10% back. I can make about a 10% margin at these levels.

 

- Gold is down down down down and... uh... soft. Yeah, really.

 

- No exaggeration - 2/3 of the walkups ask "got any world coins", I reply "no", and they quickly move off. What's the deal with the darkside stuff??

 

- I was up until 11:00 last night tallying up. Shockingly, we have transacted something like $300,000 in total business. That's a far cry from the days that I would brag about selling $5000 at a three day local show . My total coins in: 79 certified, 14 raw.

 

- Confirmed - the bourse is 5 acres. The show can wear you out. TENNIS SHOES is a must!

 

- Lunch was across the street at some place called "Reading Market" or something like that. It's a tourist trap where you can get just about any kind of food you want, but for me, it's awfully crowded, noisy and a bit glitzy. But we managed a decent lunch, and on the way out, we ducked into some place (don't remember the name) for some locally made chocolate which was smooth and delicious. I have yet to see a single Dorito.

 

- Shout out for dinner at AQUA, a nice Thai restaurant at about 7th and Chestnut. For forty bucks, we were into some good shrimp stir-fry with marvelous, subtle spices and a nice drink. That included the tip!

[123cents]

Great reports. Thanks!

[mumu]

You can live 1000 years and will be the first and last person to call the Reading Terminal Market "glitzy".

 

I see a lot of people talking about the patrami and cheesesteaks there. They are ok. But if you really want the best thing to get there, try the amish BBQ rib sandwich. Hands down the best gem at RTM. They might be there only on tues-thurs if I remember correctly and they hold to the same schedule. THey are in the corner on the street side that leads to the convention center.

[RWB]

There seemed to be a general good mood about the show today (Thursday). I heard a few grumblings: “I could a made four times as much if ‘they’ hadn’t screwed up and put my table so far back.” The food service area and seating is large, and approximately 20% of the available floor space is empty, but all the dealers are there dealing left, right, up, down, above the table and maybe a few below the table. ANA staff were looking tired, but all were very pleasant and helpful. Some dealers looked “dealed out” and I expect Friday to have some no-shows. Didn’t look in on the auctions: even the “cheap” lots are too expensive given the cost of postage and buyer’s fees.

 

Charmy Harker was a joy to meet. ANA should hire her just to spread sunshine!

 

[Mr.Mcknowitall]

I hope the show didn't lose a day somehow......

 

Respectfully, of course.

John Curlis

[jerseycat10]

RWB, will you be in attendance tomorrow morning? I would like to get my copy of your Peace Dollar book signed. If so, how would I find you, or will you be roaming?

[Coindude]

If only you had pictures you might rival Charmy.... on second thought.....

 

[James_OldeTowne]

There seemed to be a general good mood about the show today (Thursday). I heard a few grumblings: “I could a made four times as much if ‘they’ hadn’t screwed up and put my table so far back.” The food service area and seating is large, and approximately 20% of the available floor space is empty, but all the dealers are there dealing left, right, up, down, above the table and maybe a few below the table. ANA staff were looking tired, but all were very pleasant and helpful. Some dealers looked “dealed out” and I expect Friday to have some no-shows. Didn’t look in on the auctions: even the “cheap” lots are too expensive given the cost of postage and buyer’s fees.

 

Charmy Harker was a joy to meet. ANA should hire her just to spread sunshine!

Roger, please call me today at 314 - five seven four - 17 eight 5 so I can shake your hand and buy your book. I'll be there the entire day.

 

Quick hitters:

 

- The overhead announcements are the laughingstock of the show in my opinion. Think Charlie Brown wah-wah-waaaah wah wah wah and you have a perfect idea of what the announcements sound like. Yesterday, I swear they were announcing "free lasagna on the back porch if your poodle serenades boom goes the dynamite".

 

- In years past, I used to pooh-pooh these gargantuan shows. WHY? This show has been as much fun as someone can have on five acres of geekdom.

 

- Yesterday, my first potty break came at 2:00, and we finally had lunch at 4:30. Got back just in time to sell four silver dollars and then close up shop. We tried to get out for lunch at 4:00, but literally as we were walking to the exit, we tripped over a pretty amazing, fresh deal of obsolete currency and had no choice but to take advantage of "first shot".

 

- On a similar note, our schmoozing might have finally paid off. I think I'm getting two fantastic consignments (at least for me) today. The really exciting consignment has high-end yet collector-oriented coins that have been off the market for a few years, as I confirmed from auction records.

 

- Since we sold so darned much the previous few days, sales slacked off considerably. Believe me, no complaints here, since our inventory is laughably thin at this point, aside from the newps.

 

- Exactly fifty newps yesterday for the shop. I also bought five very inexpensive raw coins for my personal collection, and two certified coins that will quickly become raw as soon as I get them home.

 

- For our flight out of St. Louis, we got nailed by the TSA (I think I alluded to this in an earlier post). Therefore, we are FedEx-ing newps back to the shop on a daily basis. I feel a lot safer NOT dragging a quarter million dollars worth of shiny metal objects in my pull-behind luggage. Those strip searches at the airport are getting old!

 

- Today will be our last full day and I expect it to be the busiest. I plan to avoid being at the table as much as possible so I can buy up some more goodies. Page me if you need me. Wah wah waaaaah wah wah wah .....................................

 

- Five days in... and STILL no Doritos.

 

- Most painful PASS of the show - two tickets to Cards/Phillies on Friday 4 rows back. ARGH!!!!! we're leaving Friday!

[RWB]

I'll be around Thursday....probably hanging out in the food court seating. Will have my computer out. Look for the fat guy w/gray hair --- hmmmm...that's most everyone.

[Conder101]

I understand that in years past, the small number of PNG dealers were scattered all over the entire five acres of space, making it very inconvenient to walk from table to table.

That hasn't been my impression. Many times in the past when I have read show reports from PNG day they have ended with comments about how at the end of the PNG they had to pack everything up and move to their regular table for the ANA show.

 

- The overhead announcements are the laughingstock of the show in my opinion. Think Charlie Brown wah-wah-waaaah wah wah wah and you have a perfect idea of what the announcements sound like.

This always seems to be true. Two years ago a Chicago they did a lot of overhead announcements. All so loud you couldn't be heard by the person next to you and completely incomprehensible. I think a big part of the problem is they don't know how to speak for those systems. You have to enunciate clearly and speak more slowly. Instead when they get complaints that they can't be heard they simply crank up the amplifier until they are overdriving the speakers which simply distorts the signal and makes it even harder to understand.

 

For our flight out of St. Louis, we got nailed by the TSA (I think I alluded to this in an earlier post).

Not in this thread but I'd love to hear the story.

[James_OldeTowne]

- Met Roger Burdette and got his autograph!! The 2nd edition of Peace Dollars is available at Wizard, but be careful, as they stacked the older 1st editions in front, probably hoping to move them out first. Roger is not nearly as menacing in person as some might make him out to be on the boards !

 

- Ankur sighting!!!!! I bought three coins from our friend, including one for myself.

 

- Jerseycat sighting!!!!! It's fantastic to meet folks from the boards!

 

- Shout out to Crazy Mike for stopping by! Mike asked me to pass along a group hug to the Scotsman folks back in St. Louie. Here ya go:

[James_OldeTowne]

Tom Bush stopped by and said hello! He's a lot taller in person than he might seem to be from the boards .

[jom]

Ankur sighting!!!!! I bought three coins from our friend, including one for myself.

 

I bet I know at which ones!

 

- Jerseycat sighting!!!!! It's fantastic to meet folks from the boards!

 

That's always fun. I never get anyone out here in CA at shows so if I make it next year to CHI-Town maybe I will...

 

jom

[James_OldeTowne]

I just introduced myself to the penny lady!!

 

She didn't call security ... what a relief.

[jerseycat10]

- Met Roger Burdette and got his autograph!! The 2nd edition of Peace Dollars is available at Wizard, but be careful, as they stacked the older 1st editions in front, probably hoping to move them out first. Roger is not nearly as menacing in person as some might make him out to be on the boards !

 

- Ankur sighting!!!!! I bought three coins from our friend, including one for myself.

 

- Jerseycat sighting!!!!! It's fantastic to meet folks from the boards!

 

- Shout out to Crazy Mike for stopping by! Mike asked me to pass along a group hug to the Scotsman folks back in St. Louie. Here ya go:

 

It was my pleasure to meet James, Ankur, Charmy and Todd all at the same show. They are all first-class people.

[RWB]

Roger is not nearly as menacing in person...

 

 

I'll be at the PCGS luncheon at 11:30 Fri, and probably back w/my computer at the food area in the afternoon.

[James_OldeTowne]

We are leaving at 11 on Friday (tomorrow), so if you are there, it's your last chance to meet me and bring me some free Doritos.

 

- Today was IHC day for me. Bizarre as it may seem, I picked up at least twenty of the darned things, buying according to a want list. One guy (foodude - I think he's ATS) sold me some pretty decent pieces in old ANACS holders at a fair price.

 

- Weird, but I sold two overpriced gold coins. We bought them a few months ago at gold's peak and had them marked up from there, so I did not expect to sell even one of them. Maybe they were upgrades waiting to happen??

 

- Got not one but two copies of the new reeded-edge half-dollar book from Tom Bush today, and he kindly autographed one over to me. I am so pumped about this new reference that I've already previewed it. Awesome book! One copy goes into the corporate library, and of course, my signed copy takes an honored place on my personal bookshelf.

 

- Cards at Phillies tomorrow - OH MY how I wish I could go to the game! Of course, the Giants mauled us last night, but we won tonight and last year, we ended up doing OK against the Phillies .

[delta]

Very many thanks for the time, thought and effort that went into your extended show reports, allowing the rest of us to enjoy things vicariously, at least a little bit.

[mkman123]

Great report!

[James_OldeTowne]

- I am not, and have never been the kind of person to take naps. I like to hit bed at 10:00 and be up by 4:30. Got back to the hotel room today at 6:15, and I thought I'd pull the covers back and maybe watch a few minutes of TV. At 8:40, my cell phone rings... WAKING ME UP! I just simply dozed off for a couple of hours, totally unlike me. Uh, yeah, you might say that a show of this size and scope is very tiring.

 

- Not wanting to get nailed again by TSA, we shipped ALL of our coins back home via FedEx. Sorry if you came by and spotted a coin you want... it's gone. Heck, our inventory was down to something like only 50 coins left, anyway.

 

- Speaking of which, I'd estimate that we sold 60% of the coin inventory we brought. This is an EXCELLENT selling show, if that's an indicator, because we weren't really here to sell to begin with.

 

- New purchases tally from yesterday: 24 certified coins, 6 raw coins. Two of the slabbed coins are genuine pieces that will be cracked out for customer album collections.

 

- Most interesting purchase (perhaps): 1916-S Mercury dime ICG MS-65 that I swear is a lock FSB. I mean, it is ... right ... there.

 

- One dealer had an intriguing supply of 1857 LL and 1857 SL cents in NGC holders, a double-run grading set from VG-8 through AU-55. Um, it USED to be a grading set since I plucked out four coins, and the very next customer picked up some as well. Cool set! I would say they were graded with remarkable consistency, too, as you could clearly see the progression in details from low to high grade.

 

- Another dealer has a whole freaking case full of Conder tokens in NGC slabs. Talk about drool! Unfortunately, I really couldn't buy any since I keep these strictly in 2x2 envelopes and would have to crack the coins out, losing the cost of the slab fees. But man what a nice display!

 

- Total business seems to be over $400,000, I believe. Not bad for a geek dressed in shorts and a cheap T-shirt.

 

- STILL NO DORITOS!!!!