Coin Show Report - Parsippany, NJ, etc.
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Today I went to the (usually) First-Sunday-of-the-Month show in Parsippany, NJ. This show usually features about 80-100 dealers and a wide variety of material.

 

As the more astute among you will have noticed, today is not the first Sunday of January. Well, for January and February, the Parsippany show in on the SECOND Sunday of the Month!

 

As you might expect, there were a lot of empty tables and a modest crowd on the bourse floor today, as many dealers and collectors were still in Florida.

 

However, the show was rather better than I expected, as several dealers were back from FUN and there were more collectors on the floor than I expected.

 

On the whole, it was a nice show, as there were still good coins to be seen and with less floor traffic, it was easier to see them.

 

I spoke to Vince Blume, who said FUN was a good show this year - good attendance and a fair amount of business being done.

 

Since I wasn't looking for anything in particular today, I went hunting for older slabs. I still see a decent number of PCGS rattlers on the floor, but overall, fewer OGH holders. Older NGC slabs are an uncommon sight - it's unusual to see a "pre-bar code" holder (NGC 4, last used in 1992, and earlier varieties).

 

I picked up an 1884-O Morgan in MS-62, which was in a PCGS 2.5 slab (used briefly in late 1989). I don't see this model often (compared to immediately earlier and later slabs), although today I saw two of them on the floor.

 

The funniest sight of the show was seeing a Maine commem in what looked like a PCI slab - except that if you looked carefully, it had an NGC label and insert! I think someone cracked out an NGC graded coin and placed it inside a cracked-out PCI slab. The PCI slab looked undamaged, from a casual glance.

 

Yesterday I went to the NY International, which was a very nice show, although somewhat subdued this year. The British dealers seemed a bit "down" and perhaps there were fewer of them, for example.

 

On an interesting note, I was speaking to the rep from SAFE Collecting Supplies (which carries Eschenbach magnifyers); he said that Zeiss stopped manufacturing magnifying glasses a few months ago (which would leave the high end of the market to Eschenbach).

 

Has anyone else heard this or noticed a shortage of Zeiss magnifying glasses?

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My three Zeiss loupes just went up in value! That's irrelevant, since they'll go with me to the grave. I especially prize my old one from the 80s with its hollow axle that permits suspension from a lanyard. Through hard experience I learned that's the only way to keep from leaving it on some dealer's table. I lost it once for several months and then found a YN using it at a coin club meeting. I explained the situation and gave him a decent but not so precious one as a replacement.

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That is one of the best Northeast shows, same day as Albany now apparently.

 

I was very sorry to hear that New Jersey dealer Tom Culhane passed away recently.

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It is next Sunday, not last; I hope nobody got confused by that. And he will be missed.

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SHOW UPDATE: Got to the Parsippany Coin Show a bit before 11 AM. Attendance was a bit down from the last time I was there, probably because of the cold weather (was -2 when I left at 10 AM).

 

Dealers were down a bit from the past. 1 aisle was almost empty. Didn't see anybody selling large amounts of gold bullion, including slabs. Maybe they haven't been buying that stuff at recent shows and wasn't worth it to come up or bring that merchandise.

 

Did see some very nice Saint-Gaudens. A bunch of mid-1920's in MS65-66 stood out. Prices seemed to be a bit high but not unreasonable (I recall $2,360 for an MS-65 or 66 1923-D). Ditto an MS-27 which I am sure was MS-66.

 

Good selection of Morgans, early colonial stuff, large and small cents. Currency dealers seemed out in force and getting some looks. Saw a nice $500 and $1,000 bill but out of my price range since I am job searching. Didnt' see too many people selling modern stuff like ASEs in addition to gold bullion; seemed like many many more at the last Westchester show I attended.

 

More small/local NJ shows (Hackettstown, Old Bridge, Wayne, etc.) Feb/March/April so I may try and hit those, too. If anybody is going, maybe we can hook up.

Edited by GoldFinger1969

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Thanks for the report. The cold weather, being on an off week and that it was Valentine's day probably made attendance a bit low. Next month will be the first Sunday again and if metals keep up, should be a well attended show.

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Thanks for the report. The cold weather, being on an off week and that it was Valentine's day probably made attendance a bit low. Next month will be the first Sunday again and if metals keep up, should be a well attended show.

I'll probably go back, so if any of you are there, let's hook up ! :grin:

Edited by GoldFinger1969

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Thanks for the report, a show regular a retired school principal I know, said he didn't go because it was too cold. I figured there would be opportunities because of the low attendance. Money talks.

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Parsippany Coin Show later today....I'm going, anybody else ? I'll be there ! Look for me in a blue North Face jacket.

Edited by GoldFinger1969

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SHOW UPDATE for March 6th 2016:

 

Got to the show about 11:45 or so. BTW, the dealers set up about 7:30 AM and you can pretty much get there anytime after 8 or so. Was told that pros and other dealers come by before the public and look stuff over and then get out before the rush. But it's apparently not exclusive, so if you are an early-bird, get there 7:30 - 8 AM and have the place to yourself with other experts.

 

I noticed a few new dealers today. One guy had lots of common Saints at very competitive prices; 1927 (very popular) and 1923's (less seen). The '23's were at MS-63 and 64, right below the huge 'kink' at MS-65 where the price skyrockets. I saw lots of dealers with Morgans. But I was focusing on who had high-end stuff (CC's, tough years, DMPL/PL) and I would say only 1 or 2 out of a dozen-plus dealers with lots of Morgan inventory nonetheless had more than 2 or 3 coins that were DMPL/PL stuff.

 

One guy did have lots of high-end Morgans, with quality DMPLs. He had an 1888-O MS-66 CAC that was listed at $2,900 and change. Also an 1887-O MS-65 PL CAC that was listed for $8,500. Lots of MS65, 66, and even 66+ coins in what looked like tougher years, CC stuff, and DMPL/PL categories. If my budget allowed for it, I might have done some serious sniffing.

 

Didn't see alot of GSA Morgans; at the Westchester show last year there were 1 or 2 guys with dozens of them for sale (saw 1 guy buying 10).

 

Some currency dealers out in force: a few with exclusive currency stuff and others with a case to go along with their coins. Saw a nice $500 and $1,000 bill. Can not believe how much a top-quality $20 Gold Certificate costs -- wow !! :cry:

 

Saw a guy who had these nice "coin slab anglers" -- that's what I call them. They let his 10-12 coins stand at an angle instead of laying flat. Not practical for hundreds of coins, but VERY NICE for your top selections. I was thinking it's also a good way to showcase your coins in a hutch or display case, too. They are like picture frame plastic thingys that you would put a picture in and the plastic frame back end angles the picture. He said he bought a bunch years ago but they don't make them anymore -- anybody hear about these things ?

 

Oh yeah, the coins ?:grin: Well, he had a $42,000 coin which I didn't write down the name of (sorry, was more impressed with the coin angle things !! :grin: ). It was an early-1800's 5-star coin or something. Said there was none or 1 higher-rated. Had it graded at FUN under the priority system there; took 4 hours to get it back.

 

Stayed about 75 minutes and then visited my sister and niece. There's a good Chinese restaurant 3 minutes away that we used to go to with her and her family like 15 years ago when they lived nearby; if anybody wants to hit it in the future after the show for a Sunday lunch or dinner, I am there. :grin: Just ping me before a future show.

That's about it.

Edited by GoldFinger1969

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Show this Sunday....September 4th.....

 

Anybody going ? If so, I'd love to meet any of you at the show or afterwards for a bite to eat or a cup of coffee.

Edited by GoldFinger1969

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Show Update for September 4th 2016: ....I was disappointed in some aspects of the show today.

 

First, let me say that attendance when I got there (11:45-12:30 PM) was decent....aisles were not packed as they might have been an hour earlier but decent flow. About 40 dealers I estimate, off the top of my head. All the rows filled with tables and the overflow outside the main room.

 

Tons of Morgan SDs on display, as usual. Didn't see quite the same number of Saints.

 

Now for my pet peeve: I got there a bit later than I wanted, and when I got there, a few dealers were in the process of closing shop ! I realize they paid for their table and can leave whenever they want, but I think if a show is advertised as 10 AM - 4 PM, then the earliest folks should be putting stuff away is maybe after 2 PM. I saw a few guys close up shop right after 12 PM.

 

I belong to a club that puts on a trade show and we charge admission so we have an incentive to make sure that folks don't close early on the Sunday (2nd day) when people are still walking the show. For a 1-day event like Parsippany, I would think you'd want to give it more time since unlike our Show there was no Saturday event prior.

 

I had $$$ to spend but because the dealers with my coins of interest closed up shop early, I couldn't make a choice between a few coins I liked and passed. I'm not gonna rush a $2,500 purchase decision.

I also had $$$ for my father to buy one of his grandkids a slabbed American Eagle from the current year, but nobody had them. Dealers, these make nice Bday and graduation presents and Ms70/69/68 coins are fine since the goal is just to give them 1-ounce of gold in a protected case. Might want to bring a few in the future ! :grin:

Edited by GoldFinger1969

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