Topic: Baltimore show - February, 2019

[bonke]

If you are attending the Baltimore show during the next few days, please post information relevant to Chinese coins and currency.  Chinese dealers at the show.  Interesting inventory.  Purchases.  Sales.  etc.  I am certain the forum members will find the information interesting and informative.

Mark Bonke

[bonke]

Did any forum member or members attend the Baltimore show this week?  It is one of the very best coin shows on the East Coast.

Mark Bonke

[KeyDate1/2ozPandas]

I had planned to attend but with airfare double what it is usually and all the flight delays/cancellations that I have dealt with this year I decided to not go.  From those that are there I heard it is dead, almost no retail traffic yesterday or today.  Gold being down for the last few days probably doesn’t help either.

Many dealers are missing the show, however wholesale business is good.  The next Baltimore show is during Memorial Day weekend which will make it even lower attendance than this show.

I am planning on skipping the Pittsburgh ANA show in March, the non-summer ANA have historically been a waste of time.  I plan to attend central states in late April and Long Beach in early June.  I have very low expectations for both shows as collector demand is still at all time lows since 2010 and show model is badly broken (online sales for quality stuff, pre-show deals excludes public, expense to attend too high (air, hotel, parking)). 

[bonke]

Arif

Thanks for the information about the Baltimore coin show.  Very interesting.

Maybe, I will make plans to attend the Central States show this year.  I will check to determine whether it will be held in Schaumburg (a nice facility for the show with reasonable prices for accommodations across Interstate 90) or elsewhere.  In the past, I have enjoyed the Central States show.  A big coin and currency show, but not as massive as the winter FUN show in Orlando or the summer ANA show.

I am still a strong believer in personal attendance at coin shows and auctions.  I want the opportunity to hold the coin or slab in my hand and turn it over so that I may determine the condition for myself.  I do not find pictures in catalogs or pictures on the internet an adequate substitute.  Also, I do not find the grade on the encapsultion an adequate substitute.  Still, I am an oldster and resistant to change.

Mark Bonke

[KeyDate1/2ozPandas]

It is at Schaumburg convention center. 

https://www.ngccoin.com/events/

While for auctions I agree that one should always inspect before bidding, the show itself seems outdated model as the best coins are sold pre show to other dealers.  I can’t remember the last time I bought something of value off someone table.  Electronic trading seems to be the future in the US. 

[PandaCollector]

Arif

Thanks for the information about the Baltimore coin show.  Very interesting.

Maybe, I will make plans to attend the Central States show this year.  I will check to determine whether it will be held in Schaumburg (a nice facility for the show with reasonable prices for accommodations across Interstate 90) or elsewhere.  In the past, I have enjoyed the Central States show.  A big coin and currency show, but not as massive as the winter FUN show in Orlando or the summer ANA show.

I am still a strong believer in personal attendance at coin shows and auctions.  I want the opportunity to hold the coin or slab in my hand and turn it over so that I may determine the condition for myself.  I do not find pictures in catalogs or pictures on the internet an adequate substitute.  Also, I do not find the grade on the encapsultion an adequate substitute.  Still, I am an oldster and resistant to change.

Mark Bonke

See you at Central States, then - my first time there. I will also be at the Hong Kong show this month.

Best wishes,
Peter Anthony
NGC Consultant
China Pricepedia — Chinese Coin Prices and More
The Gold & Silver Panda Coin Buyer’s Guide 3
www.pandacollector.com

[bonke]

Arif

The coin show is a perfect forum for dealers to sell or "unload" inventory on other dealers who specialize in a particular type of coin (such as gold pandas) or who have a customer for a particular coin.  Over the years, as a dealer nurtures these relationships with other dealers, the profitablity of the coin show attendance grows.

As a collector, I miss all of these opportunities at coin shows.  Dealers do not know me.  Dealers do not trust me.  Dealers often do not want to show me a particular coin and certainly will not accept my personal check as payment.  There are exceptions, but generally these statements are true.

Still, I welcome the opportunity to hold a coin in my hand before making the decision to purchase.  Coins are easy to buy.  Problem coins are very, very difficult to sell.  If possible, I try not to buy other people's problem coins.  Seeing the coin in advance of the purchase lessens the risk.  I still make mistakes and I am still learning.

A question for coin dealers is whether they should reserve a table at the coin show.  Once they are known to the other dealers, they can wander the floor during set-up and purchase material for their inventories.  Sometimes, I see dealers tables which remain empty for most of the show as they search of new material.  Hard choices for dealers.

From my perspective, I hope the coin shows remain in existence, I hope dealers choose to attend these shows and reserve tables, and I hope they learn to trust me (and other collectors) more so that I may see their coins and, possibly, purchase them with a personal check.

Mark Bonke

[PandaCollector]

From my perspective, I hope the coin shows remain in existence, I hope dealers choose to attend these shows and reserve tables, and I hope they learn to trust me (and other collectors) more so that I may see their coins and, possibly, purchase them with a personal check.

Mark Bonke

Coin shows remain alive and well in Asia. Hong Kong alone has six shows annually, now. Shanghai had an excellent new show last December (Money Fair Shanghai). Bangkok has a new show that I was told I must see, too.

In China, no one accepts checks, but Wechat Pay and Alipay work.

The problem in China for foreign dealers is customs regulations that amount to a wall against importing, or exporting coins for shows. Importantly, though, the domestic collector audience is there, large and attends the shows. Not many foreigners to be seen at these, however. The largest foreign presence is grading companies that recognize what a large market this is.

"A question for coin dealers is whether they should reserve a table at the coin show.  Once they are known to the other dealers, they can wander the floor during set-up and purchase material for their inventories.  Sometimes, I see dealers tables which remain empty for most of the show as they search of new material.  Hard choices for dealers."

These days tables at USA shows are most valuable to dealers looking to buy from the public. This may be especially true for world coins where people's knowledge of coin values is sketchy. In general, retail customers in the USA are not coming to shows to buy. Many dealers do find it more profitable to roam the bourse floor making deals with other dealers.

Best wishes,
Peter Anthony
NGC Consultant
China Pricepedia — Chinese Coin Prices and More
The Gold & Silver Panda Coin Buyer’s Guide 3
www.pandacollector.com

[KeyDate1/2ozPandas]

I used to take a table at shows so I could buy from retail customers.  Now that retail attendance is very light it is not worth having a table unless you want a place to sit and organize your purchases.  I will, however, take a table if the organizer discounts it heavily, say 50%-75% off the original asking price, but will only use it for the set up day and 1st public day, the other 2 days I will just let it sit vacant and enjoy the town or fly home.  US coins are in bear market and that is why many dealers have not been reserving tables in the last year.  When gold starts flying high that could change quickly. 

As for dealers not showing you coins that I don't understand unless the coins are already sold and the dealer is just waiting for payment.  The only time I don't show coins is to gypsies, they are known to target shows for theft.   

Personal checks are very risky to take from collectors or dealers, however, my experience is dealer are much more likely to write a bad check (NSF) than collectors.  I have only had 4 bounced checks written to me, all were made good on the second check, all were dealers.  I no longer take personal checks from those dealers, one strike is enough to ban them for life.  There is a small group of dealers and collectors that I do take personal checks from, but that is it, Mark you are part of that small group.