Important News! CoinLink has merged..... Visit our NEW Site www.CoinWeek.com

BREAKING NEWS:....... Vist Our NEW Site at CoinWeek.com

Long Beach Coin Show and Market Report by William Shamhart

By William Shamhart – Numismatic Americana

Everyone wants to know: So how was Long Beach? In one word: HOT!

OH…you meant how was the coin show? Well if you’re an optimist, it was partly sunny; if you’re a pessimist, it was partly cloudy. Confused? So was I.

I’ve been going to Long Beach for almost 30 years now. And it never ceases to amaze me. This year’s fall show didn’t suffer the Long Beach curse of falling precious metal prices as most have. In fact gold is at an all time high. And? And generic gold was dead. No demand that I could see. While Christine and I don’t really make a market in bullion or generic gold, we do get some in deals at times, or from customers that are changing their collecting strategy. So we sort of deal in it I guess. Anyways, I would have thought that generics would have shown some sort of surge in demand. But alas, they didn’t. In fact we sold MS 62 Saint Gauden $20 pieces for $1,500. And that was with gold just shy of $1,300!

There was definitely a larger amount of no-show dealers this time. I blame that on the fact that as I write this, I am getting ready to leave for Whitman’s Philadelphia show. I heard that many of the East Coast dealers just didn’t want to do back to back major shows. I can’t say that I blame them.

Retail customers – There were several people that I expected to be there that were also no-shows. Maybe they are saving their money for this week. I guess next weeks show report will tell if I was correct or not.

So from what I am writing, you’d think that Long Beach was a bust, right? Wrong. While not as heavily attended as usual, those that were there, came to buy. Most of the customers we saw there were again (I’m seeing a trend here) carrying want list and would wait for just the right piece. Quality was paramount and price was secondary. Today’s collector wants quality, with no excuses. And they are willing to pay for it. Slightly off quality, and low quality weren’t really sought out. At least from what I could see. That’s not to say that they aren’t selling because we saw a lot of coins trade hands at some very attractive prices. Oh wait, that was wholesale.

So what was selling? Ready? Drum roll please…Proof Walkers and Mercury Dimes. Yes, it surprised me too. But then again, they are dirt cheap in comparison to some other series. And they can be downright pretty. Sound inviting?

Commemoratives – This series has a somewhat “cult” like following. Those that collect them never stop. Maybe they slow down, but they never stop. They just graduate to the “top pops”. Even seasoned veteran commem people were buying duplicates, and even triplicates, but only if the coins were “all there”. Don’t rush out and buy all the commems you can get your hands on though. Be picky, like our customers, and wait. When that special coin presents itself, then, and only then, do you pull the trigger.

Gem Gold – While the lower grade, i.e. MS 61-64, pieces weren’t as in demand as one would think, Gem specimens, were. We sold many at the show, and while we bought some to take home for customers there just are not that many around. Whether a collector is building a set of Gem $3 pieces, or just looking for a few MS 66 $5 Liberties, it can be a daunting task.

Confused? I understand.

Like I said earlier, I will be attending the Whitman Show in Philadelphia this week. If you go, and have a chance, stop by the table and say hello.

About the Author

RSS Feed for This PostPost a Comment

You must be logged in to post a comment.