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Long Beach Saturday: Yawnnnnnnn.

Started by truthteller,

5 posts in this topic

truthteller

truthteller

Posted
Posted

Well, I arrived Saturday at 1PM. First thing I noticed were the dealers who DIDN'T leave on Sat. Most LB Saturdays, a large percentage of east coast dealers pack up and leave. Not today. Most coin dealers were still in attendance until 4PM. Retail was off a bit, but not as bad at first glance. I had time to peruse the foreign section and purchase some lovely Mexican coinage. There seemed to be a bit of heavy activity in the jewelry, exonumia section. I managed to talk to a few board members who were pleased with purchases.

 

Net results from this LB show:

 

1) Market conditions are changing for the downside overall. Very nice and pretty US coinage sells very well and is not discounted.

 

2) Slabbed graded material is being pushed with more vigor

 

3) Many midsized dealers are being very cautious about expenditures

 

4) Retail and wholesale buyers are keenly aware of the "Coingate" scandal and say this is an influence on a subpar show.

 

5) More dealers want to be in a cash position

 

6) Ugly or subpar coins are not selling, which is hurting cashflow since there is nowhere for these coins to go. Many sight unseen bids are now nonexistant.

 

7) Expectations are good to fair about the upcoming ANA convention. Many feel that if the ANA is not a decent show overall, the market will worsen.

 

 

 

TRUTH

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JamminJ

JamminJ

Posted
Posted
Saturday...just like Friday: sleeping.gif

 

jom

 

At least you got to visit that Swiss coin again. confused-smiley-013.gif

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Here

Here

Posted
Posted

What were people saying about the Superior and Heritage auctions. I thought the Morgans did pretty good in the Superior auction. Plus, I sold two 3CN in Superior which surprised me. They brought at least more than my reserve.

 

 

Jerry

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jom

jom

Posted
Posted
At least you got to visit that Swiss coin again. confused-smiley-013.gif

 

I'll look forward to seeing it again in September, I'm sure. In fact, since I can visit the coin at every show there really isn't any reason for me to buy it. Even at that significant "discount" he's offering it for. yay.gif

 

jom

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