March Baltimore Report

[AnkurJ]

Hi everyone,

 

Below is my Baltimore report. What is stated here is my opinion, and mine only. It may or not be an accurate portrayal of the market for everyone, but simply my observations.

 

I attended the Baltimore show for just today. With kids and work, its difficult to stay overnight, so I was happy with getting one day in. I arrived at 10am after a 3 hour train ride from New Jersey which was spent in a half awake and half asleep slumber dreaming about chain cents and half dismes. I had a list of dealers whose tables I wanted to visit rather than wander around. One day is simply not enough to see everything, so rather than miss someone, I felt it was the best plan of action to make a list.

 

I had my box o coins in hand ready to do some selling, and at the same time I was looking for PQ type for resale and maybe even something for my collection. Many dealers who I showed my box to did comment that I have very nice coins. I stopped by many tables that most of it was a blur. But at the end of the day, all of my gold stickered CAC coins sold, as well as a 1839o half and a MS Reeded edge half. All coins that sold were CAC stickered, and they sold for strong prices. Throughout the show, the effect of CAC could be felt. On more than one occasion, I overheard a collector and dealer having a conversation about CAC and if a certain coin had been there or would pass. People are realizing the power that CAC does posses. And as expected, coins in PCGS holders with a CAC sticker are commanding more than NGC/CAC.

 

A few observations. I saw a handful of MS Bust halves with pretty color, but they were the same ones from the ANA last August. No half dismes, very little quality early copper. There were about a dozen chain cents, but the grades were either AG, G or AU. Nothing in between. Proof Walkers were abundant. Draped Bust Dollars in varying grades were abundant. Very little Flowing hair material comparitively. High end Seated and Trade Dollars were practically non existant. Most Seated Dollars that were in low MS/High AU were too dark for my tastes. There were fewer early $5 gold pieces compared to the ANA last year. Problem free Draped Bust Quarter Eagles and Eagles were non existent. Toners in all prices were everywhere with the same coins going in circles in some cases. Draped bust quarters were around but in lower grades. Draped bust halves in F to VF were plentiful. I saw one table with an AMAZING selection of MS CAC'd Peace Dollars. The coins just seemed to POP. I looked for them again but was unable to find them. If someone is there, please PM me if you know who this dealer is.

 

I also visited BlueCC/Todd to photograph the Famous Neon Bust Half I purchased from Heritage earlier this year. Todd was very gracious enough to photograph this amazing coin for free, and even insisted he pay me for the honor of photographing it! I politely declined I will post the images when I recieve them. Other board members I met included: Andy Lustig, TomB, ColnelJessup (for a split second), OnlyGoldisMoney and Kove. I was looking for MJ but missed him. I was told he was dressed to impress though

 

In terms of buying, it was the first show I had a very tough time buying. As my collection nears completion, and as I get pickier with my purchases, the less I am buying. I did purchase a very interesting Roosevelt Medal though. Sometimes it hard to stay focused! In terms of buying for resale, I try to focus on coins that are CAC'd or have the potential to sticker. Prices on what decent stickered material I was looking for was just too high to resell. I try to buy coins priced in the $100 to $1500 range which appeals to many collectors, but many other dealers go for these coins as well. I did purchase two coins for resale, and both are CAC'd early dollars. One I already had a customer for, and the other was just priced right.

 

As it always does, the day FLEW by, and I had to catch a cab back to the train station. I was reflecting on the blur of the day on my trip back, and I have to say that the coin market is definetly gaining steam, but only for better quality coins. It does not matter what grade it is neccesarily, but that the coin is high end of the grade and have nice eye appeal. As always, the lower end of the spectrum and dreck continues to plunge into a deeper and deeper abyss.

Coins aside, the perfect end of my day was getting a big hug from my 2 year old daughter when I got home. All of the exhaustion of the day just seems to disappear

 

Thanks for reading,

Ankur

[mumu]

This to me signals a problem with CAC...or maybe a problem with collectors more realistically

 

"Throughout the show, the effect of CAC could be felt. On more than one occasion, I overheard a collector and dealer having a conversation about CAC and if a certain coin had been there or would pass. People are realizing the power that CAC does posses."

 

"And as expected, coins in PCGS holders with a CAC sticker are commanding more than NGC/CAC. "

 

These 2 statements to me dont go with each other well. The entire premise of CAC is to bridge the gap with a final and absolute opinion that should transcend the holder.

[AnkurJ]

I agree completely. But it will take time for that to happen. Until then I happily buy NGC/CAC coins at a discount, which I did today. The problem is with the perception of collectors. CAC pays the same regardless of the holder.

[thehumantorch]

I agree completely. But it will take time for that to happen. Until then I happily buy NGC/CAC coins at a discount, which I did today. The problem is with the perception of collectors. CAC pays the same regardless of the holder.

 

Interesting report thanks.

 

Since you've been buying both coins and comics I'm wondering if you have any observations regarding the similarities and differences between the two hobbies?

[MJ]

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I believe this was Certified Rare Assets along the back wall. If you behave yourself tell Steven I sent you. If you are going to offer him half of ask, I don't know you. He charges dealers 20% more BTW.

 

<.

 

Being the Belle of the Ball at a coin show wasn't that hard

 

I did see you rolling through the aisles with a posse and then the next second you were dealing at a table armed with a pink sheet, a blue sheet, a grey sheet and hard wired into Coin Facts. I dared not interrupt Next time AJ. I did leave the show early with my mission accomplished.

 

MJ

[DirtyGoldMan]

This to me signals a problem with CAC...or maybe a problem with collectors more realistically

 

"Throughout the show, the effect of CAC could be felt. On more than one occasion, I overheard a collector and dealer having a conversation about CAC and if a certain coin had been there or would pass. People are realizing the power that CAC does posses."

 

"And as expected, coins in PCGS holders with a CAC sticker are commanding more than NGC/CAC. "

 

These 2 statements to me dont go with each other well. The entire premise of CAC is to bridge the gap with a final and absolute opinion that should transcend the holder.

That assumes that people completely buy into the CAC assessment as the single most influential factor. In the real world, collectors take it into consideration, just like they take the slab grade into consideration, and all of the other factors one considers when buying and pricing the coin. For most of us, the sticker is not a trump card but another piece of useful information. The OP seems to have great reverence for it, but I think that this is the exception, rather than the rule.

[EVillageProwler]

I think oft overlooked now is the influence of the registry driving a gap between pricing of coins in the two service's holders.

 

EVP

[Hard Times]

This to me signals a problem with CAC...or maybe a problem with collectors more realistically

 

"Throughout the show, the effect of CAC could be felt. On more than one occasion, I overheard a collector and dealer having a conversation about CAC and if a certain coin had been there or would pass. People are realizing the power that CAC does posses."

 

"And as expected, coins in PCGS holders with a CAC sticker are commanding more than NGC/CAC. "

 

These 2 statements to me dont go with each other well. The entire premise of CAC is to bridge the gap with a final and absolute opinion that should transcend the holder.

That assumes that people completely buy into the CAC assessment as the single most influential factor. In the real world, collectors take it into consideration, just like they take the slab grade into consideration, and all of the other factors one considers when buying and pricing the coin. For most of us, the sticker is not a trump card but another piece of useful information. The OP seems to have great reverence for it, but I think that this is the exception, rather than the rule.

 

I am guessing there are more folks out there that swear by CAC than perhaps one thinks. Especially when buying online and not seeing in hand, CAC just adds another level of confidence that what you are purchasing is probably graded correctly. Viewing in hand tho', trumps everything.

 

Thanks for the report Ankur, very informative!

 

Best, HT

[Nutmeg Coin]

Thanks, Ankur for the report! Baltimore is an interesting city with the inner harbor and other tourist attractions. This has historically been a great show. One reason for the advantage of CAC IMO is that it cuts out some of the fatigue that comes with all the visual, technical and other analysis involved in this business. What other field do you have to know so much about so as not to be taken to the cleaners?

[DirtyGoldMan]

I think oft overlooked now is the influence of the registry driving a gap between pricing of coins in the two service's holders.

 

EVP

I actually think that, at least in my areas of interest, this effect is overrated. I do think that there are times when there is a quality difference that drives a price difference, but often there is no apparent reason, even with coins that are traded frequently and have great liquidity.

[dimefreak]

What kind of premiums were the CAM stickers bringing???

[RWB]

Interesting comments. Wish I could get out of the office to be there.

[AnkurJ]

One other note, one thing I noticed us that the show floor lights made many coins look nicer than they were. Luster on blast white coins really popped in those lights.

[jom]

One other note, one thing I noticed us that the show floor lights made many coins look nicer than they were. Luster on blast white coins really popped in those lights.

 

If there were chandeliers (sp?) (or similar) they have a tendency to do that....I'd rather the room be dark and then use a light at the table...like with lot viewing sometimes.

 

jom

[physics-fan3.14]

What kind of premiums were the CAM stickers bringing???

 

Couldn't care less for the stickers or frills on that slab, but damn those are some nice shades of green on that coin. I like it alot!

[dimefreak]

Thanks Jason.... I was just being a smarty pants! Im not big on any stickers either.... However Id favor the CAM in this case

[mumu]

Who does the cam stickers

[jom]

Who does the cam stickers

 

Crazyforcolor on eBay...the guy is named Cameron (or is it with a K?). That's his sticker for his inventory or whatever.

 

jom

[dimefreak]

Who does the cam stickers

 

Kameron Christenson... I believe he calls them crown stickers... I call them CAM stickers

[Kenneth F]

What kind of premiums were the CAM stickers bringing???

 

[mumu]

Oh just inventory stickers. I thought they were a toning CAC like service somewhere.

[jom]

Oh just inventory stickers. I thought they were a toning CAC like service somewhere.

 

You should have know better than that. That situation would have created a 25 page thread here (and at ATS) on the subject. I'm sure you would have noticed!

 

jom

[JIM F.]

Thanks for the report.

[TonerGuy]

Went to the show today... My first Whitman show... Just excellent. I couldn't stay for long but I plan on making a pilgrimage back to either this one or the one in Philly...

 

Nice to see some east coast dealers that don't make it out to LB...and to see some familiar faces from LB.

 

Picked up a partial Kennedy set in a classic Whitman album with beautiful golds, blues and pinks on about 10 of the coins for a whopping $60 from Wayne Herndon's table. Score. I will post pics at some point.

 

How is the Philly show in comparison to Baltimore in regards to number of dealers ?

[jom]

Nice to see some east coast dealers that don't make it out to LB...and to see some familiar faces from LB.

 

I've always wondered about this. I haven't been to a show out of CA since 1996....and there are obviously a ton of dealers I've never met or haven't seen in years.

 

jom

[Rayman311]

Thanks for your report! Nice Early Dollars you listed.