To say the paper money market was red hot at the Chicago Paper Money Expo would be an understatement. Blazing hot comes closer.
The associated Lyn Knight Currency Auctions sale realized a strong $2.9 million, and dealers of U.S paper money knew by midday Friday of the March 9-11 event that the market was really hopping.
?Without a doubt, Friday at this show was the best paper money show I?ve ever attended,? said Tom Denly, of Denly?s of Boston. ?The hum was louder than you hear at any paper money show. An equivalent to a coin show when gold has just gone up $30 an ounce.?
Joe Kovarik, a coin and paper money dealer in Villa Park, Ill., offered a similar sentiment: ?This was my best show ever. Gross and net.?
?The things I sold yesterday seem like they?re worth more today,? said Jess Lipka, of Numismania, Flemington, N.J.
?It?s just been the best show we?ve had, period,? said Tim Kyzivat, of Western Spring, Ill. ?Part of it was that we came here with good, fresh material, a lot of it large-size type. … I think it just continues the trend of there being more and more sophisticated buyers.?
About his auction, Lyn Knight commented, ?Seemed to be … a continued strength across the board, with high-grade type breaking records time after time after time. Trophy National Bank Notes are as strong as humanly possible and Nationals across the board seemed to be more active than they were in 2005, down to the most common material. … Participation was broad ? we had over 110 people in the room when we started Friday night.?
Though he was fighting a cold, Knight?s upbeat mood carried over into some general banter and horse play with auction bidder Andrew Shiva and Numismatic News editor David C. Harper, who recorded the highlights March 9 with his camera.
?The best-attended Chicago convention I?ve been to,? said Mike Crabb, of Memphis, Tenn. ?Thursday and Friday was a mob scene. I sold more of everything than I have at any show in the past year. Traffic around my table here was five times the traffic around my table at the FUN show.?
CPMX general chairman Kevin Foley provided an example of the dealer sentiment: ?One of our Professional Preview attendees purchased a booth on arrival and later told me that he did so much business he had to change his return airline ticket and that he wanted to make certain I had a booth for him next year.?
The 13th CPMX is scheduled for March 8-11, 2007. To learn more, contact Foley, telephone (414) 421-3484 or e-mail email@example.com.