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Parsippany, NJ Coin Show Report

Started by AnkurJ,

15 posts in this topic

AnkurJ

AnkurJ

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Today was the monthly Parsippany, NJ coin show featuring about 100 dealers with all types of items from coins, paper money and bullion. I was expecting a quiet show being in the middle of the summer and days before the ANA, but it was a decent sized crowd with every table being occupied.

 

I was set up with a friend of mine offering early type and other CAC coins. One of the major happenings at the show was a moment of silence for Larry Greenstone who was a fixture at the show for many years. Larry passed away in April which came as a shock to everyone.

 

The show had much of the usual types of coins. I purchased nothing at the show and all sales came from other dealers. I had the feeling that most collectors were saving for the ANA, while dealers are trying to stock up on quality merchandise. A total of 5 coins were sold, 2 of which were consigned to me. The ANA was on everyones mind and I am hoping its everything that is expected. A few collectors were walking around with redbooks and stating they get $200 off redbook prices from most dealers. I wasn't one of them. lol

 

Board members I met were Mumu who showed me a pretty Peace Dollar, Filographer, Onlygoldismoney , and Joebb21 from ATS.

 

One interesting note. A fellow collector showed me a raw 1808 Large cent that looked very nice and I graded it AU. I suggest he show it to a copper expert who sets up at the show. When he came back, I asked him what he said. Bad. Apparently, but very skillfully, the hair was re-engraved. I looked at the coin again with a 10x loupe and saw a few signs, but it would trick many people. The collector paid a great deal for the coin unfortunately. I suggested he still submit it as you never know.

 

My ANA report will be posted Friday or Saturday.

Thanks for reading!

Ankur

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mumu

mumu

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And it was very hot in the room! Espeically while looking at coins under the lights. The hallway is like a meat locker then the main room like a sauna.

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JIM F.

JIM F.

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Thanks for the report. Sounds like the market is in a decline -- or is the "good stuff" locked up and not for sale?

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AnkurJ

AnkurJ

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Great report.......take some pics Ankur like charmy does

 

I will do that next time. Some people prefer privacy so I try to avoid it. And there isn't much spectacular to show. The entire show is about 5 hours.

I think this is a minor calm before a minor storm. Nice coins are in strong hands. Anything decent gets sold rather quickly.

 

For the quality I like to buy and sell, I cannot rely on greysheet.

 

Overall I'd say bullion was king as there is strong speculation that both gold and silver will go up this week. Looking at auction prices for truly PQ coins, that market is on fire. Dreck as usual is going nowhere.

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BROADSTRUCK

BROADSTRUCK

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Great report.......take some pics Ankur like charmy does

 

With so many dealers at this show venue that in recent years have been targeted and had their entire inventory stolen posting pics on a public forum is the last thing to do.

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Nutmeg Coin

Nutmeg Coin

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Great report.......take some pics Ankur like charmy does

 

I will do that next time. Some people prefer privacy so I try to avoid it. And there isn't much spectacular to show. The entire show is about 5 hours.

I think this is a minor calm before a minor storm. Nice coins are in strong hands. Anything decent gets sold rather quickly.

 

For the quality I like to buy and sell, I cannot rely on greysheet.

 

Overall I'd say bullion was king as there is strong speculation that both gold and silver will go up this week. Looking at auction prices for truly PQ coins, that market is on fire. Dreck as usual is going nowhere.

 

The internet auctions are a major venue that has made it difficult to find nice coins; CAC is an option which has caused high end coins less likely to be at the small shows; they tend to end up in the large shows, or end up in collections and therefore salted away for years. There are still a lot of old time collections that would grade well. I have done business with many dealers who refuse to submit coins for grading. I was talking to a flea market dealer today who said he refuses to submit; IMO getting coins independently graded is a customer rights issue.

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AnkurJ

AnkurJ

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A total of 5 coins were sold, 2 of which were consigned to me.

 

Where the profits on those 5 deals enough to cover the cost of setting up at Parsippany?

 

Barely. The two coins sold on consignment were sold for a friend who is under some difficult times, so I did not take any percentage out of it.

 

The summer shows are usually quiet. It was better than last month though.

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jerseycat10

jerseycat10

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A total of 5 coins were sold, 2 of which were consigned to me.

 

Where the profits on those 5 deals enough to cover the cost of setting up at Parsippany?

 

Barely. The two coins sold on consignment were sold for a friend who is under some difficult times, so I did not take any percentage out of it.

 

The summer shows are usually quiet. It was better than last month though.

 

Thanks. I wasn't trying to be a with that question. I was generally interested in the logistics of setting up at a show.

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mkman123

mkman123

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Broadie, ankur doesn't have to take pics of members, he could just take pics of various neat coins he sees, etc. Charmy has done this and I don't think anyone has gotten robbed, etc because of it.

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AnkurJ

AnkurJ

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Broadie, ankur doesn't have to take pics of members, he could just take pics of various neat coins he sees, etc. Charmy has done this and I don't think anyone has gotten robbed, etc because of it.

 

Well if that's the case, you can view the only cool coins at the show on my website! lol

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mumu

mumu

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Broadie, ankur doesn't have to take pics of members, he could just take pics of various neat coins he sees, etc. Charmy has done this and I don't think anyone has gotten robbed, etc because of it.

 

Well if that's the case, you can view the only cool coins at the show on my website! lol

 

I have to back up that Ankurs coins are pretty much the only ones there with nice color. Soooo many white coins. I like that Pan Pac comm you have Ankur. Im going to one day put together a little 5-10 coin set of my fav commems and that will be in it. But now is not the time :(

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