Topic: Long Beach Coin Show Feb, 2017

[KeyDate1/2ozPandas]

I didn't go.  What I heard.

1) one mainland dealer came vs 4 in June

2) weak retail traffic

3) strong dealer-dealer business, I sold a lot of coins pre-show and shipped them.  I bought 4 pre-show deals and had dealers ship to me

4) very little new supply of semi-rare or rare coins, a lot of 1oz coming out with gold at 1 year high

5) myself and others commented about not submitting coins to NGC ahead of the hurricane

Unrelated to Long Beach.
1) online retail demand very strong right now.  I am shocked by the number of new customers in the last 2 months buying $1,000-$20,000

2) very few old customers are buying

3) dealers are buying aggressively well priced stuff despite very tight margin on many coins.  High gold helps dealer unwind bullion positions, which creates demand for semi-rare and rare coins, that is why dealer-dealer business is so strong.  Also a few collectors are doing the same, had one buyer sell large bullion lot this week at 1 year high and reinvest in 1/2 and 1/4 gold pandas that are selling at 8 month low

4) mainland buyers wanting to buy again, I think the strong RMB is helping them find bargains.  Many buyers in mainland are using US addresses to have coins shipped to, which is great because I have no interest in shipping international

[pandamonium]

Looks like the demand boom is almost here.    More online articles are out about China's petro Yuan tied to gold.     In time it will go mainstream then the mass sheeple herd will flood into Chinese money......

[Mirkkanen]

Listen, I like your enthusiasm and I'd love to be wrong about this, but the "mass sheeple herd" (of Americans, at least) will NOT flood into Chinese money because they are distrusting of China and it's anti-American rhetoric and methods. There will be lots of scepticism and the transition will be gradual, if ever.

[pandamonium]

I understand what you are saying.     For about 11/12 yrs i have been accused of being a nut case and conspiracy theorist because i promoted that everyone should buy gold/silver back then.    No one understood back then.    Now they do and some even thanked me.   Started buying bullion in 2005 or 06.    Others ask me how i figured this out so long ago.    Read and study.   Learning is my favorite hobby because i understand being poor/hunger/etc and all the bad things that happen when in that situation.   Being poor is a great motivator...
I worked w/ many different immigrants on our family farm growing up.    They could not speak English so we used sticks in the dirt to draw pictures to communicate.    ALL immigrants understand every penny of the US dollar when they move here.    No way can you make mistakes or cheat them out of 1 penny.    I still say the USD cannot survive derivatives/debts.    I still say bullion and the Yuan tied to gold will become the new currency.    The people in the West will quickly understand Chinese money and bullion as the USD heads south just like the immigrants did w/ the USD....   
I hope it will be a gradual transition but capitol flight from the West to the East could happen quickly too......                    Being around many, many different nationalities growing up, they all have anti this or that rhetoric so i just ignore it all because we are all just people.....   

[pandamonium]

I was a military brat so i pay attention to military opinions.      Did you know China/Russia have the ability to shut down our warships, planes, etc?     They have superior weapons over the US weapons now, thanks to Obama.    Have read these articles for years.    We attack countries that try to circumvent the USD.   We cannot do that to China/Russia so the Yuan will rule.      Military (including a member here) also told me that they know Obama is a muslim brotherhood member back when he got elected.     This is how messed up the world is today.     That is why i suggest reading Steve Quayle and Dave Hodges Common Sense Show.    These are the only sites that occasionally post military opinions for the public.     I know, i am a conspiracy theorist but so far my theories have been fairly accurate.  Trump will bring out the Truth bomb soon.....

Asia Times   "Ship collisions raise spector of Chinese electronic warfare" by Bill Gertz is one article of many.   

[Mirkkanen]

 I suggested to you weeks ago that your make your own thread for this kind of post. Please take my advice.

[pandamonium]

OK, but my point is the US cannot bully China/Russia when they bypass the USD so the Yuan will rule......

[collectingcoins]

I'd prefer that we stay on topic rather than get side tracked on issues and topics that don't necessarily have any bearing on the Long Beach Coin Show.  I'm not even sure what all this yuan, gold, usd stuff is about anyway, don't care either.

Anyone have pictures to share about the conference?  Any good coins or medal pictures you can post?  I'd love to see and hear more details about this conference.  I hope these shows don't go away before I get a chance to attend one.  Sounds like they are becoming a reunion of sorts, where dealers more or less are exchanging/purchasing pieces from each other.  It appears the internet is not only hurting bricks and mortar (i.e. Amazon), but the coin show attendance too.  #sad.

[KeyDate1/2ozPandas]

Pandamonium predictions are mainstream news now. 

https://www.usnews.com/news/articles/2015/09/24/are-china-and-russia-trying-to-undermine-the-us-dollar

[pandamonium]

The petro Yuan backed by gold begins the middle of October is what articles say.    About 3 weeks.     Hopefully it will be a slow, long process and not a shock to the system.     At some point the world will want to buy the Yuan as a hedge/etc...     This will bring attention to Chinese money and coins/medals that we collect.     The US has a history of attacking countries that undermine the USD but China/Russia have superior weapons now, so we cannot attack them.      The sun is rising in the East and setting in the West sad to say.     May we live in interesting times....

[SANDAC]

The article is 2 years old, 9/24/2017.  Gold is already denominated in yuan, but yuan is not backed by gold, not yet anyway.  Crude will also be denominated in yuan, soon.  China's fortune is rising, but it is a competitive world, so it is a best a slow rise with many setbacks along the way.  USA may not be the only superpower in a couple decades, but will remain a great power, nevertheless.

[pandamonium]

I hope you are right SANDAC and we will see a long slow process.    However the weapons of financial destruction or derivatives will cause the problems not the debt and it could unwind quickly.       Long Term Capitol Management was the first to understand derivatives.      Anyway we look at it, Chinese money has a bright future.......   

[pandamonium]

Kitco   Marketslant    "petro dollar under attack" .       Maybe this will help readers understand.     Many on line are now debating the petro yuan and we should see the conversation on TV news soon......   that will wake up some sheeple...
 

[1668Chris]

I'm awake and I'm not debating.  If the yuan is so popular why are so many in china moving their yuans into NYC and California real estate.  People keep emigrating to the USA not sure I know one person who emigrated to China.

[pandamonium]

I agree, Chinese are moving to the West including Canada.     People thru out the world love their countries but do not trust their governments.       Jim Rodgers posted a few years ago he was moving to China and teaching his children Mandarin.    Why would Jim do that?         Have read many other articles from top investors and all agree that this new system in place, the petro Yuan, will have a huge effect on the markets in time.     I have never seen another system in place to by pass the USD.      This is new territory so all we can do is speculate.     Hopefully it will be a slow change.    I would love to see the USD be the reserve currency for my lifetime but the markets are telling me differently.....
The Yuan is not popular yet...