"CSNS Show Report from Dave Wnuck Numismatics"

[michael]

a great report if i do sayso myself here is a link ( MORE COMPLETE) or see below

 

http://www.davewcoins.com/newsletter.html

 

 

Dave Wnuck Numismatics LLC

 

 

 

Making the Grade #6: The 2014 CSNS Coin Show – Blockbuster or Snoozer?

 

04/28/2014

 

 

Let me cut to the chase. From a dealer perspective, for the 2014 Central States Numismatic Society show held last week in the greater Chicago area, was in my opinion a Snoozer.

 

But since I write this newsletter from the point of view of collectors in this great hobby, I wanted to share with you an entirely different perspective on this same show.

 

A good friend and customer told me on Saturday: “From my point of view, this show was fantastic! I added some great coins to my collection. And the time I spent here was very enjoyable. Some of the biggest, most important dealers at the show (obviously he was not referring to me), who normally are much too busy to talk, suddenly had time on their hands. I could spend 5 minutes talking with them, and they were glad to do it. So for me – this was the best, most enjoyable show I’ve attended in quite a while”.

 

So the take away from this could well be: if dealers like me are complaining, there is a good chance that you – the collector – are going to have a very enjoyable experience.

 

This Here is Lesson Learnin' "Territory", Pardner

 

OK students. Today’s class involves what we can all learn from the results of the spectacular territorial gold collection sold at the CSNS auction. Because unlike the sleepy bourse floor, the sale of this collection was truly a blockbuster event.

 

This collection consisted of less than 100 coins sold. Those few coins sold for over ten million dollars in total, setting numerous records in the process. Bidding on the floor, the phones and the Internet could fairly be characterized as furious.

 

Though not his primary goal by any stretch of the imagination, the person who assembled this magnificent collection made millions of dollars in profit. And that is on top of the enjoyment he undoubtedly received from building the collection. What can we learn from this experience? Here are my take-aways:

 

The collector held this collection for what passes today for a very long time. His average holding period was 12 years or a little longer.

 

He worked with an expert dealer to help him find just the right coins, and to help him build it.

 

He paid strong prices (at the time) for rare, desirable coins in high grades.

 

Most importantly: he studied the area thoroughly, and knew exactly what he was buying. When an opportunity to acquire a rare coin that didn’t show up frequently arose – or when a coin in uncommonly nice condition showed up - he stepped up and bought it. Lots of times the trick in building a great collection is discerning when a once-in-a-generation opportunity is occurring, and when it is not.

 

Very good; class dismissed.

 

 

Announcement Regarding Auction Representation at the Newman Sale of Colonials in New York

 

Due to the number of requests from long-time customers I have received in recent weeks, I have decided to relax my longstanding policy against representing folks at auction. Under certain limited circumstances and under certain conditions, I will represent serious collectors at this once-in-a-lifetime sale of Eric Newman's colonial coins. Contact me for details, terms, conditions, etc. Your mileage may vary; void where prohibited.

 

A Super-Secret Peek at the New Coins I will Have at the EAC Convention in Colorado Springs Later This Week

 

OK, I guess it isn't super-secret any longer if I am listing them in my newsletter. But still – in addition to my regular inventory (all of which is a maximum of maybe 8 weeks old, by definition) I will have these super-new newps at my table at the EAC show later this week. Email me at davewnuck@gmail.com for details on any coins listed below. All of these coins have been graded by the nice folks at PCGS:

 

1793 Chain Cent in Very Fine

1798 Large Cent in Choice Extremely Fine

1798 Large Cent in Very Fine

1799 Large Cent in Good, with an Even Brown Color & a Bold Date

1858/7 Flying Eagle Cent in Choice Almost Uncirculated

1902 Indian Cent in Gem Uncirculated with Full Red

1955 Lincoln Cent, Doubled Die Obverse in Choice Red & Brown Uncirculated

1918/7-S Standing Liberty Quarter in Very Fine

1817 Rarity 6 Bust Half Dollar in Choice Almost Uncirculated

1826 Bust half Dollar in Choice Almost Uncirculated

1839-O Reeded Edge Half Dollar in Choice Very Fine

 

1923-D St. Gaudens $20 Gold in Gem Uncirculated

 

 

 

 

 

 

 

Website - www.DaveWcoins.com

 

My email address – davewnuck@gmail.com

 

Phone - (203) 231-1213

 

[Catbert]

A good read, thanks for posting it Michael.

 

So true about getting time to sit and chat with dealers. That is such a bonus when attending shows and to help build one's understanding of many aspects of our hobby (and not just about a particular coin or coins). This, combined with auction lot viewing, is a highlight of shows I've been to beyond acquiring new pieces. These opportunities should factor in when one is evaluating the cost/benefit of attending a major show!

[James_OldeTowne]

I will summarize my experience quickly... the show was reasonably active as far as an average show of this size (250 tables or so, I guess). However, this is CENTRAL STATES and the bourse USED to be extremely active in years past. This one did not live up to that standard of, say ten years ago. So in that regard, it was a disappointment.

 

Simply stated, Chicago has TOO MANY SHOWS. The CSNS was MUCH MUCH better when it moved from city to city.

 

We did about 60% of the business that I felt we should have done, and that despite being utterly swamped Wednesday, Thursday and Friday. The problem is that Saturday, when the retail public is supposed to show up, was nowhere near what it should have been. And I think it's because there are just too many shows in Chicago.

[michael]

thanks guys for both your comments (thumbs u

 

and also james could you please post on these boards

your thoughts on other shows you go to in the future when you come back

 

i think many would appreciate your insightful comments (thumbs u