Danbury coin show

[Nutmeg Coin]

The Danbury show run mainly by Phil Jones of Brookfield coin was on today. Floor traffic was strong, business activity was average. It's the usual story; lots of dealer to dealer activity with some retail business. http://danburycoinclub.org/coin-shows/

 

http://i.imgur.com/mIqGbN7.jpg

 

http://i.imgur.com/OUOTOjg.jpg http://i.imgur.com/uYPkqyz.jpg http://i.imgur.com/Kq2eMPz.jpg

[DaveG]

Looks like a decent local show.

 

Did you see anything particularly interesting?

 

Did you hear any interesting news or gossip?

[Nutmeg Coin]

I picked up a better date Morgan that is either PL or DPL and some other nice material. Dealers who had high priced material did not do much business; sellers of foreign coins seemed to be attracting the most customers. The market seems to be going toward low risk coins at these shows and buying opportunities. A guy trying to assemble a collection who bought two better date Unc. CC Morgans seemed particularly ripe for getting ripped off and I said for him to buy the book and do research before buying coins which another dealer reprimanded me for as he was "his" customer.

[DaveG]

Thanks for the update.

 

I presume the new collector bought two raw CC Morgans. It's always a tough decision to suggest something to a collector who's in the middle of a deal.

 

I hope the offending dealer wasn't someone for whom you had previously had respect!

[Nutmeg Coin]

Coin show etiquette does not dictate that other dealers and collectors must remain silent when the new collectors with money come into the hobby and need counsel on transactions. Scott Travers saved my bacon on some transactions as a newbie; I have found some of the best show dealers are those who have other jobs or don't need to bend the truth to satisfy their quest for profits. And I've gotten tired with the rationales with the raw coin sellers against the grading services or against objective grading standards. I've confronted that dealer with loose standards, selling XF Seated dollars as AUs, selling problem coins at multiples of what they would be worth. Eventually the raw coin buyers wise up to having lost big money if they send the coins in to be graded at any of the four main services, I don't see the raw coin sellers undergrading very often. The worst that would happen in speaking out or "interfering" with someone buying problem material is the guy talks to the show manager, and most show managers I know are honest and straight forward and don't like to be giving cover for shady business activity.