Coin Show Report - Parsippany, NJ

[DaveG]

Today I went to the first-Sunday-of-the-month 80+ dealer show in Parsippany. This show usually features a crowded floor and a wide range of material.

 

This show used to have two rooms: the main room and a side room with a half-dozen or so dealers. Last month the side room had been taken over by Golden Gloves, so the displaced dealers were in the hallway, without table lights. This month they were in the hallway again. (Hopefully, the Golden Gloves guys aren't going to be permanent.)

 

Today there were a few empty tables in the main room - probably because of the competing White Plains show. However, I noticed a few dealers who usually do the White Plains show were at Parisppany, so probably the White Plains show had some empty tables, too.

 

Some notable sightings included: 1) currency dealer Carl Bombara had a larger than usual inventory, including lots of nice large size notes and one of the $10,000 gold certificates from the turn of the century (not a piece of currency, but a certificate used between Federal Reserve Banks, as I recall).

 

2) J&H coins had a nice display of pioneer gold, including an Assay Office $50 slug, an Assay Office $20, a Wass Molitor $5 and a Bechtler $5.

 

3) Tom Hyland had an NGC no-problem 1794 half dime! I forget the grade, but I think it was XF or AU territory - a nice coin! I think he also had a details graded 1794 half dime, too.

 

I saw a number of old slabs (for you slab collectors) - I wonder if some old collection had been broken up. One of the old slabs was a 1947-S Washington quarter in MS-65; it was in one of the 1987-1992 slabs. It was still selling (today) for less than the cost of slabbing. Ya gotta wonder why it was slabbed in the first place!

 

Overall, the show was crowded, but the room didn't have the "buzz" of business being done. A couple of dealers remarked that the show was "slow" today.

[Nutmeg Coin]

I was at the show today as well as the Westchester show on Friday; I asked the dealers who had been at Westchester on Friday, had better results on Saturday, generally they said yes. It appeared fairly busy, but as I have become more conservative in my buying, I'm hesitant to fall for any coin or piece of currency as a dealer, as a collector the story would be different.

[breakdown-migration]

I couldn't make it again this month. Sorry to hear the dealers lost the side room -- i have actually made a few good purchases in there.

 

[GoldFinger1969]

FYI, I gave a report on my Saturday visit to the Westchester Show in the other tread. (thumbs u

 

Dave & Guys...good updates.

[leeg]

Thanks for the report Dave.

 

(thumbs u

 

 

[CoinZip]

Thanks for the show report....

[GoldFinger1969]

What are they gonna do if they get more dealers later in the year -- they're already in the halls and the aisles in the Main Room are very tight.

[DaveG]

GoldFinger1969,

 

What makes you think they'll get "more dealers later in the year"?

 

The Parsippany show has been sold out (with a waiting list) for many years. A new dealer could only get a table when a regular table holder was absent.

 

They were only able to accommodate a few extra dealers when they got the side room.

[GoldFinger1969]

GoldFinger1969, What makes you think they'll get "more dealers later in the year"?The Parsippany show has been sold out (with a waiting list) for many years. A new dealer could only get a table when a regular table holder was absent.They were only able to accommodate a few extra dealers when they got the side room.

 

I didn't know that, Dave. Thanks for the info.

 

I would think then that any dealers who couldn't get into Parsippany would be knocking down the doors of other shows, including the quarterly Westchester Show, no ?

 

Parsippany must be in the 'sweet spot' for alot of multi-state dealers who can get there fairly easily each month.

[GoldFinger1969]

Dave, how long has the Parsippany Monthly show been going on ?

[DaveG]

I would think then that any dealers who couldn't get into Parsippany would be knocking down the doors of other shows, including the quarterly Westchester Show, no?

 

 

GoldFinger1969,

 

I think it's like anything else that's popular: the dealers want to go where the collectors are - which is Parsippany. For whatever reason, shows in Westchester and Fairfield county have trouble attracting collectors.

 

The current Parsippany show has been in the PAL building since some time in the mid-90s, I think, although its roots go back to at least 1993.

 

As I recall, there was a predecessor show in that area, but it was managed by a promoter that the dealers didn't like.

[GoldFinger1969]

I think it's like anything else that's popular: the dealers want to go where the collectors are - which is Parsippany. For whatever reason, shows in Westchester and Fairfield county have trouble attracting collectors.

I'm surprised Dave because Westchester has some nice wealthy areas nearby....Long Island isn't too far away.....CT and the Hudson Valley have easy access, too. Off the top of my head without doing an MSA demographic analysis, I can't think of a reason why the Parsippany Show is sold out and has a waiting list and Westchester is quarterly and has plenty of space in the subtaraenean bowels let alone upstairs (you'd think it would lead to pent-up demand).

 

I think maybe more dealers find Parsippany accessible but I'm guestimating from what a few told me over the weekend.

[DaveG]

You're right - and that's why Jon Lerner started CoinFest.

 

What could possible be better than a high-quality show right in the midst of UpperMiddleClassLand and WealthyLand?

 

Unfortunately, it turned out that either all the coin collectors in Westchester and Fairfield county were out playing gold instead of going to coin shows or all those golf players don't collect coins!

 

Most of the collectors I see at Parsippany seem to be from RegularGuyLand - either in actuality or just in appearance/behavior.

[GoldFinger1969]

You're right - and that's why Jon Lerner started CoinFest. What could possible be better than a high-quality show right in the midst of upperMiddleClassLand and WealthyLand? Unfortunately, it turned out that either all the coin collectors in Westchester and Fairfield county were out playing gold instead of going to coin shows or all those golf players don't collect coins!Most of the collectors I see at Parsippany seem to be from RegularGuyLand - either in actuality or just in appearance/behavior.

 

I wonder how a CoinShow at a location right square in a easily-accessed but High Rent district -- say, Nothern Bergen County, the Alpine/9W area -- would do.

 

Would be interesting...has lots of Upper Middle Class/Lower Wealthy who are into wealth preservation/coins/bullion as opposed to the SuperRich who hire private bankers and foreign bank accounts for that purpose.

[DWLange]

The Parsippany show is so vibrant because that city is still stimulated by the spirit of its former resident, NGC!

[AnkurJ]

Thanks for the report Dave G! This area of the northeast is always busy with coin business. CAC is only about 20 minutes from Parsippany as well.

 

I missed this show as I was taking a course. I guess its a good thing as I have enough on my plate. J&H always has a nice selection of coins, and is my go to dealer at the show.

[GoldFinger1969]

Thanks for the report Dave G! This area of the northeast is always busy with coin business. CAC is only about 20 minutes from Parsippany as well.

I missed this show as I was taking a course. I guess its a good thing as I have enough on my plate. J&H always has a nice selection of coins, and is my go to dealer at the show.

 

Not sure I remember him, what's his specialty ?

[AnkurJ]

Thanks for the report Dave G! This area of the northeast is always busy with coin business. CAC is only about 20 minutes from Parsippany as well.

I missed this show as I was taking a course. I guess its a good thing as I have enough on my plate. J&H always has a nice selection of coins, and is my go to dealer at the show.

 

Not sure I remember him, what's his specialty ?

 

CAC

[GoldFinger1969]

Not sure I remember him, what's his specialty ?

CAC

 

The Coin Collection (Maryland) had a good selection of CAC coins, but there was 1 other guy I think I recall who might have been that guy. 2-3 guys had alot of CACs as a % of their total inventory.