THE PRE ANA SHOW

There was a private (invited dealers only) Pre ANA Show held in Beverly Hills. It consisted of about 30 major dealers or their representatives. The show was VERY strong. From set up until the guards asked people to leave Sunday, activity seemed to be non stop. Since it was a smaller venue with less people than a typical ‘pre’ show, everyone in the room had a spirit of doing business with each other (something we used to see when the services held the “trade and grades”). There definitely was a strong and positive “buzz” in the room that had everyone psyched for the upcoming ANA show.

Thus, it was easy to realize premium prices at the pre show. One well known major buyer attended solely to purchase. We know for a fact, this buyer spent $2,000,000.00 there and then left for vacation skipping the ANA Show completely. ALL of the coins he purchased were sold back home. Another major buyer who was at the show also was extremely aggressive and probably spent close to the same amount. The important thing to note-is that the majority of these coins are gone from the market-they were not to be seen floating around ANA or in different holders later.

THE PRE AUCTIONS

Stacks and Heritage each held sales during the pre show. It did not matter who was holding an auction so long as they had fresh, original, and really rare coins for sale. With a severe lack of supply, any coin that fit these categories brought exceptionally strong money.

Stacks had no major collection. So they had mixed results. Still on selected coins (even retreads) that were rare and decent, many people found themselves being out bid! Our major purchase at the sale was the copper J-84 for $356,500.00. The majority of coins we bid on, we surprisingly lost!

Heritage had a few pockets of fresh coins along with the Louis Bassano Commem Collection. We did sell Lou a few coins and were thrilled his coins sold for crazy money.

As always, we were totally frustrated at the Heritage Sale. They continuously realize remarkable prices. One coin we wanted badly was the $2.5 1864 NGC AU53. Any student of $2.5’s knows these are rarer than 54S’s (we weren’t close on our bid on the 54S either). We left a what we thought was a stupid high book bid of $29,900.00 (Platinum Night also happened to be the night we decided to fly to Giants Stadium and see a great AC/DC concert). Sure enough, someone outbid us at $32,200.00 and got the coin. There was no price guide even close to reality for the date-still not many coins bring $30,000.00 in AU! Besides being jealous of the new owner of that coin, we were blown away on 75% of the bids we had left that night. At least we got to see one heck of a concert (the AC/DC guys are in their upper 50’s, early 60’s and may not tour again).
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Hot Topics from Legend Numismatics

Location, location, location-even a child knows thats the first rule to any good real estate transaction. Why didn’t the ANA think about this when they booked this years show? In my very strong opinion, the poor-make that pathetic location of the ANA show was one of the top reasons this years show has the most dismal attandence I have ever seen my 30+ years of attending them. Also, it was an illusion as far as how many dealers actually set up (we seemed to have bigger tables). Plus, there was no “buzz” of excitement. It seemed like a clumsy commercial show.

Its time for the ANA to reinvent itself from a sleepy back room pamper the board group to a real organization that does something for all collectors, dealers, and the shows it promotes .
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For five days starting on August 5th, Los Angeles will be the center of the numismatic world. The American Numismatic Association’s  annual World’s Fair of Money Convention is considered by many to be the greatest coin show on earth.

Over 1,100 dealers will be attending, maning booths to buy, sell and trade literally hundreds of millions of dollars worth of coins, from Ancient coins of Greece and Rome, Banknotes, and Rare US coins, World coins and every form of Gold and Silver bullion.

Some of the most valued rarities in numismatics will be on display

• The Smithsonain Institution will display several coins from the National Collection including seldom-seen national treasures such as one of only two known 1849 pattern Double Eagles ($20 denomination gold coins) and an example of the world’s most valuable coin, the 1933 $20 Double Eagle.
• The U. S. Treasury Department Bureau of Engraving and Printing will have over $1 Billion of currency on display including sheets of $100,000 Bills
• The Famous 1787 Brasher Doubloon with the unique hallmark-on-eagle’s-breast 1787 Brasher Doubloon which was hand-struck by George Washington’s onetime neighbor, silversmith Ephraim Brasher, and described as “the single most important coin in American numismatics.”
• Three of the five known 1913 Liberty Head nickels will also be displayed together.

A highlight of every World’s Fair of Money is showcasing the collections, creativity and research of ANA members. This year more than 100 exhibits covering almost every aspect of numismatics will be featured in competitive and non-competitive categories. A special highlight will be a display of Yap Stones, believed to be the largest and heaviest form of money ever used. Created by natives of the island of Yap in the South Pacific, some of the stones on the island tower over 8 feet, and many are still used in ceremonial exchange. (more…)