The dreaded Long Beach update.

[truthteller]

Wednesday:

 

I arrived at the show approximately 3PM. Doors open at 2PM. Most dealers were at their tables, and many were walking the floor. I noticed once again that the huge open gap of space appears to be growing larger at every Long Beach. Several dealers did not set up on Wed., some of which are exclusively retail. Absolutely no buzz on the floor. I stopped at a few tables to chat and peruse some commems. I also looked for better Mexico. Again, not much in color. Several of the mainstay dealers did not appear to be actively selling wholesale. I did take note of the lack of US gold on the bourse. I surmise much of this has left the inventories of dealers who do not want to be caught in the current downswing. One dealer mentioned he sold 2000 oz of gold that previous Friday. He felt very good Wednesday. I purchased zero commems but paid fair money for some cool mexican coins. A dealer fell ill and was taken away by ambulance, causing a bit of a stir for about 5 minutes, then everyone back to business. For a Winter LB, this was a subpar wholesale day.

 

 

Thursday.

 

I arrived about 12PM. Much, much more of a buzz in the convention hall. Very active with retail folks. Many of the empty table spots were filled. I sold a few pieces of currency at fair prices. I also noted many of the retail dealers were very active with business. PCGS and NGC appeared fairly busy for about 5-6 hours. I met up with a few boardmembers to chat and say hello. Jom, Gmarguli, JamminJ and IdahoGal looked happy.I got into a deep conversation with a couple of dealers over the new Patriot Act provisions. In addition, we spoke about the total and complete divergence of the two tier market. At $1000 and less priced coins, slow. At the $1000 and up market, very good. The overpriced modern market was almost universally agreed will crash and burn, soon. The variety market, such as overdates, VAMs, etc., should maintain a healthy clip for now. A couple of transactions bothered me, though. I noticed several dealers refuse to make offers on coins that they normally take in trade. Instead, these dealers took the coins on consignment.I see this happening more and more. I feel fewer dealers will be willing to step out and buy coins which have been overpaid for. Keep this in mind when buying a coin for resale or trade in the near future.

 

 

TRUTH

[HaydenTubbs]

causing a bit of a stir for about 5 minutes,

 

 

People trying to "cherrypick" his table?

[IGWT]

The overpriced modern market was almost universally agreed will crash and burn, soon.

 

Are you saying that the entire modern market is "overpriced," or just certain parts; and, if just certain parts, which of them?

[michael]

great report keep them coming truth

[truthteller]

The overpriced modern market was almost universally agreed will crash and burn, soon.

 

Are you saying that the entire modern market is "overpriced," or just certain parts; and, if just certain parts, which of them?

 

Modern varieties such as FS Jeff, Ike dollars, etc. will do OK. However, clad top pop. PF and MS statehood quarters, SAE, etc., say BUBBYE.

 

 

 

TRUTH

[IGWT]

However, clad top pop. PF and MS statehood quarters, SAE, etc., say BUBBYE.

 

Even the First Strike SAEs?

[JamminJ]

Modern varieties such as FS Jeff, Ike dollars, etc. will do OK. However, clad top pop. PF and MS statehood quarters, SAE, etc., say BUBBYE.

 

Can you really judge the market for those coins from a Long Beach show? The show never struck me as having much of that stuff - ever.

[truthteller]

Modern varieties such as FS Jeff, Ike dollars, etc. will do OK. However, clad top pop. PF and MS statehood quarters, SAE, etc., say BUBBYE.

 

Can you really judge the market for those coins from a Long Beach show? The show never struck me as having much of that stuff - ever.

 

 

It is not a matter of seeing the coins in cases, but opinions of old marketers who sold such coins in the past. Again, it's their opinions, else I would never know what the heck those things are worth other than face value.

 

 

 

TRUTH

[JamminJ]

Modern varieties such as FS Jeff, Ike dollars, etc. will do OK. However, clad top pop. PF and MS statehood quarters, SAE, etc., say BUBBYE.

 

Can you really judge the market for those coins from a Long Beach show? The show never struck me as having much of that stuff - ever.

 

 

It is not a matter of seeing the coins in cases, but opinions of old marketers who sold such coins in the past. Again, it's their opinions, else I would never know what the heck those things are worth other than face value.

 

TRUTH

 

Thanks for the clarification!

Up for lunch tomorrow?