Dealer trade dominates Central States Show

While the facility in Schaumberg, Ill., got rave reviews at the Central States Numismatic Society convention there, dealer comments on business conditions favored dealer-to-dealer sales over retail sales.

“It was a very good buying show. Basically our buying has to make our show for us,” said paper money dealer Steve Perakis of Alex Perakis Coin and Currency, Lima, Pa.

Ron Mirr of Liberty Coins, Richmond, Va., said he purchased three times what he had sold.

“It was on the quiet side as far as turnout of the retail public,” Mirr said. “I did well here because I have a lot of fresh collector stuff and I was able to consign some nice lots with the auction companies.”

Luke Mitchell of Scott Mitchell Numismatic Associates, LLC, of New York City said, “I’ve had a pretty good show. We had a very good first day.” He explained that 80-90 percent of his sales were done then and that it was almost entirely dealer to dealer.
Jim Fairfield of Ft. Wayne, Ind., was one of many dealers who commended the convention center and adjoining hotel.

Numismatic expert Jeff Ambio introduces the general public to the coin collecting market in this simple and entertaining guide on how to sort through old family coins.

“There’s some strength to the market and a few soft areas, U.S. gold in particular,” he said of business conditions. He noted that circulated $20 Liberty Head gold pieces are basically melt value.

Larry Briggs of Lima, Ohio, said, “I think attendance has been down this year,” but he balanced that with, “We’re going to be pleased by the time we leave. It hasn’t been a rush, but it’s been steady.”

Briggs noted that it was hard to find better dates on the floor, and he noted that he had better dates in the Seated coin and other fields and that’s why people were coming to his table.

World coin dealer John Ferm of Excelsior, Minn., split his view almost right down the middle.

“I would say slightly above average, a little better than anticipated,” Ferm said. “People are still looking. (Coins) have to be nice. They have to be appealing coins. They (buyers) are willing to pay up if the coin looks OK. The price of generic coins has come down.”

Ken Starrett of North Arlington, N.J., said, “Lately for me, all the shows have been kind of mediocre. I didn’t see a lot of public. I think that’s the location. There were very few signs to tell people where the convention center is. The dealer-to-dealer (business) is OK. I think the million dollar penny helped.”

Greg Allen of St. Paul, Minn., who specializes in Mint State Franklin half dollars, said he sold quite a few, but hadn’t bought as much as he planned to buy.

Evan Gale of Aspen Park Rare Coins, Littleton, Colo., said of his business, “It was a little bit slow here overall. Public attendance isn’t very good. It was extremely difficult to buy nice coins. Nice coins continue to go up.”

For Al Johnbrier of Bowie, Md., “Wholesale was great.”

He said he wasn’t attending the show to do retail.

Paper money dealer John Markis of Trusted Traditions, Ft. Lauderdale, Fla., said, “The venue was absolutely visually beautiful. However, I wish there was more of a retail traffic.”

New York’s Anthony Terranova said of his experience at CSNS: “Slow, but I think it’s the market in general. Gold is sideways and silver is sideways and nobody can figure out what to do.”

Ed Rothberg of Emporium Coin and Currency, Moorhead, Minn., anticipating the question, said, “If you want to know how the show was, it was good.”

Eagle Eye Rare Coins’ Rick Snow of Tucson, Ariz., who specializes in Indian and Flying Eagle cents said, “It’s been fairly steady. A lot of collectors came out. I think they liked the location.”

Judging by his comments, one of the best results was achieved by Gary Adkins of Minneapolis.

“Business was outstanding for me,” he said. “We sold a lot of great collector coins. I sold a Clark, Gruber Mountain $10.”

Adkins observed that buyers of silver dollars and the classic U.S. commemoratives 1892-1954 are picky in the current environment.
He called it a good collector show and dealer business was good as well.