Rare Coin Road Warrior

April 2012

Dear Rare Coin Enthusiast,

In this month’s Rare Coin Road Warrior I want to discuss a couple of ‘key’ developments in the business.  First, I am going to ‘revisit’ my market report from earlier this month titled “GIGO”.  Second, I am going to talk about the news from the Central States Coin Show last week in the Chicago area including the new Ebay announcements and the ratification of PNG ‘bylaw’ changes in regard to ‘Coin Doctoring’.  Lastly, I am going to talk about the coin show schedule from a ‘dealer’s’ perspective. 

Part One

Do you remember your first copy of the Greysheet?  Did you get a ‘copy’ from another dealer?  Did you get an older issue from a fellow collector?  I picked one up out of a trash can at a show.  I was probably 13 years old.  At that point in my numismatic ‘career’, I couldn’t afford a subscription and often carried around an ‘out of date’ Coin Dealer Newsletter for weeks. 

Do you recall the feeling you had when you got that first ‘Greysheet’?  I do and the feeling was ‘pretty cool’!  I vividly remember that ‘feeling’ and it kind of went like this….Wow, now I have ALL the information that the other (because I was a dealer now) coin dealers have.  Remember the movie ‘The Jerk’ with Steve Martin?  The line in the movie was ‘The new phone books are here….now I am somebody’.  Although the analogy along with dialogue from the movie isn’t exactly right, I hope you get my point.  The Greysheet IS important to the coin business and always has been.

Earlier this month in my Rare Coin Market Report, I berated Coin Dealer Newsletter/The ‘Greysheet’ for inaccurate and ‘out of date’ information.  Although I am ‘sticking to my guns’ so to speak on what is wrong with the Coin Dealer Newsletter, there are a lot of things that are RIGHT.

We are part of the information age whether we like it or not.  In the mid-seventies when I was a teenager, the Greysheet was the ‘TELL ALL’ sheet of the coin business.  Fast forward nearly 40 years and the folks at the Coin Dealer Newsletter are still producing a quality product on a weekly basis that, more often than not, people depend on for pricing information.  Most dealers at shows readily welcome the ‘new’ Greysheets distributed by the show producers, although many larger dealers have the information at their finger tips on their laptops or I-pads and don’t consider the information ‘timely’ anymore.  Yet the majority of the coin market ‘still’ considers the Greysheet the point at which ALL negotiations start. 

In this ‘what have you done for me lately’ world, the Coin Dealer Newletter attempts to satisfy this insatiable need for information.  The problem with ‘any’ information is interpretation and accuracy.          

Part Two

The Central States Show has been a rare coin circuit BIGGY for decades.  The CSNS Show has seen incredible activity like the stellar show last year at Rosemont, IL to market crash in ‘Stinkin’ Lincoln in 1980.  The CSNS Show has often been a pivotal show for the rare coin business.  The CSNS Show brings out virtually ALL the major players.  Because of the “Central” location, the show itself appeals to both large and small dealers and much like the FUN (Florida United Numismatist’s) Show in January, brings out many dealers who don’t normally attend shows.  While the FUN Show has the big ‘sun and fun’ aspect going for it in the ‘dead’ of Winter, the CSNS Show has that ‘big shoulders’ kind of feel to it-PERFECT for Chicago right? 

This year’s CSNS Show was held in Schaumburg, IL for the first time at a newer Renaissance Hotel and Convention Center.  The reviews in regard to the location were MIXED at best.  I will get into the specific ‘nuts and bolts’ parts to the show in part three later in my article.  Let’s talk about what happened at the show. 

The Professional Numismatists Guild held one of their general meetings prior to the PNG Day at CSNS.   Only a few shows, like CSNS and the ANA, hold PNG Days prior to the general opening and set-up of their respective shows.  Ebay sponsored the luncheon at the PNG meeting and Gene Cook from Ebay addressed the PNG.  Ebay in cooperation with the PNG have made several significant and quite ‘HEALTHY’ changes in their respective policies over the last several months. 

These changes have included measures to protect the consumer from counterfeit and fraudulent material that was being offered for sale on Ebay and elsewhere in the marketplace.  Specifically, Ebay announced earlier this year that ‘Replica’ and ‘Copy’ items would no longer be allowed for sale on Ebay.  In addition, Ebay has adopted additional measures to protect the consumer.  At the PNG meeting Gene Cook announced that as of May 31^st, only PCGS and NGC graded coins (which incidentally met some minimum requirements for customer protection against fraud) could be offered at the ‘numerical’ grades if valued over $2500. 

Other items can be sold, but cannot be described by a numerical grade if they are over this $2500 price limit.  One of the biggest reasons for this rule change is the ability by consumers to visit either PCGS or NGC websites to CONFIRM that the serial number of a particular item being traded ‘MATCHES’ the item described.  One of the other reasons is overall customer confidence and impartiality.  The bottom line is that Ebay wants customers to know they are getting exactly WHAT they are buying or bidding on. 

ANACS quickly announced that they are making changes to meet the Ebay minimum requirements by the May 31^st deadline.  Kudos to ANACS.  For specifics on the new Ebay rules, please visit Ebay’s website.    

Change is good, although sometimes it is painful.  One of the sayings a high school coach used to say to us during practice goes something like this…’Pain is weakness leaving the body’.  Coin Doctoring is the subject that has resulted in a lot of ‘pain’ for many consumers in the past.  After months of deliberation and evaluation, the PNG approved changes to their bylaws that addressed these ‘Coin Doctoring’ problems.  This newly approved bylaw specifically addresses the ‘intent’ to defraud as the basis for the bylaw.  The change in bylaw was overwhelmingly approved.  Personally, I believe this has been a HUGE quagmire for the PNG and the coin business itself.  The new bylaw is brief, concise, and accurate and represents a great big step in the right direction for the consumer.   

In several ‘one on one’ type meetings with Ebay representatives, myself and other members of the PNG, have voiced their concerns regarding consumer confidence and the overall improvement of the coin market.  Yes, coin dealers are here to make money-so is Ebay, BUT…the bottom line is all about customer confidence and long term goals that will correct old and often times bad behavior.  Both Sherri and I are THRILLED with the overall steps and processes that these new measures represent for our hobby and industry!  We are very supportive of these changes and believe that the rare coin business not only NEEDED to change, but that these changes will benefit both buyer and seller in the future.

PART THREE-Covering late March through mid May   

Late March.  This morning Sherri and I are returning from a good small show in Milwaukee, WI-‘don’t cha know?’.  Although Milwaukee used to be a frequent coin show venue, the South Shore Coin Club Show we attended is the only three day coin show remaining in the state of Wisconsin.  In the year’s past there were three to five shows per year in Milwaukee usually held in downtown Milwaukee at the Mecca Convention Center.  The Mecca is no more and from what one of the South Shore Coin Club members told me, it is doubtful any shows smaller than a Central States or ANA would even be able to afford space at the new convention center. 

Part of the problem is ‘CRAZY’ taxation policies in the state of Wisconsin itself.  Recently a show in Madison, WI was DESTROYED because of outlandish taxation rules.  Overnight virtually half of the dealers planning on attending cancelled their trip.  When will shortsighted politicians understand that ‘strangling’ business is like killing the golden goose?  California are you listening?    

Over the last several years a couple of shows in the suburbs of Chicago have ‘taken hold’ and become quite successful.  Like the unfavored step child, Milwaukee has taken a back seat in terms of coin show activity.  To a certain extent this is unfortunate, because there are lots of great collectors in Milwaukee, but more collectors and dealers are willing to come to a show in the Chicago area.  Truth be told, like a lot of aspects of our lives, it is ALL about money.  The more potential collectors, the more money, blah, blah, blah…..

One of the newer show venues that have stepped up since the downfall of the Milwaukee show activity is in Tinley Park, IL.  The facility in Tinley Park (at the South edge of greater Chicago) is new and the parking is plentiful.  At the recent show in Tinley Park in late February, Jim Paicz did a marvelous job despite bad weather and the confusion surrounding a new show date.  This was the first time that this ‘third’ date in Tinley Park has been held.  The two other shows in Tinley Park will be held in June and September and we are excited to have tables at both. 

This April is unusual in the coin business.  There is only one ‘major’ show with only a few regional shows of any size.  The Central States Coin Show in Schaumburg, IL in the second half of the month is one of the best shows of the year and the move to Schaumburg vs. Rosemont is, in my opinion, good thinking on the part of the CSNS organization.  Rosemont is worn out, overpriced, and crowded.  Rosemont has been a good example of ‘extortion’ gone amok over the years, but the convenient to O’Hare Airport location has made it a successful venue that is popular for business travelers especially coin dealers flying into Chicago from all over the U.S. 

So Vic, then what is the problem with Rosemont?  The Convention Center itself is worn out and ‘dumpy’.  The parking prices are astronomical and often times there are a couple of conventions going on which make it VERY inconvenient for potential customers of the coin show to even park and attend.  Just last year, the ‘comic book’ convention hurt attendance and CSNS in Rosemont.

Hindsight is ‘twenty twenty’ they say-HA!  The Central State Numismatic Society folks did a great job of putting on this year’s annual show, but…attendance was OFF.  Because this is the first year for this new venue, I believe this show will improve over the next several years.  The CSNS Show will be held in this Schaumburg, IL location for at least the next three years.  Overall the facility was very comfortable, but ‘change’ can sometimes be painful and a lot of dealers WERE NOT happy with the venue.  Frankly, there are some shortcomings.  Unless you have a vehicle, restaurants and other hotels are very inconvenient to reach.  The trip from the airport to Schaumberg will ‘CLIP’ you for $60 to $70 by taxi and the location itself although very visible from the interstate IS NOT easy to get to.

The only other bigger shows in the month of April were last week’s Pacific Northwest Numismatic Association Show in Tukwila, WA and this week’s shows in both Dalton, GA and Dearborn, MI.  We heard good reports from Tukwila from a couple of dealers who attended.  This is a good regional show.  The Georgia Numismatic Association Show in Dalton, GA is a good show also, but the attendance at both this show and the Michigan State Show in Dearborn will be diminished because dealers, including ourselves, are just too tired to attend.  Unfortunately this ‘too tired because of too many shows’ feeling was voiced by several dealers in attendance at the CSNS Show last week in regard to the upcoming ANA Show in Denver in early May. 

When the ANA decided to add a third show to their annual show schedule a couple of years ago, they moved the Spring show to a later date, in May, from the ‘normal’ year’s past March date.  This year’s Denver Spring ANA is the first time the show has been held this late in my numismatic memory.  Denver is an incredible city to visit and we attend both the Spring and Fall Denver shows as often as possible, but the show schedule is oversaturated and attendance might very well suffer.  Several dealers I spoke to at Schaumburg/CSNS last week told me they are cancelling.  All of these dealers are too tired and believe the timing is bad. 

The success or failure of this new Spring ANA date remains to be seen, but we will be attending both the ‘PRE-Show’ held by Jerry Morgan at the National Western Expo Hall May 3^rd through the 5^th and returning the following week for the ANA itself in downtown Denver at the Convention Center the 9^th through the 12^th.  When the ANA originally scheduled this show, they ‘stepped’ all over Jerry Morgan’s Denver Spring Show by scheduling their show the week prior to his, but Jerry outfoxed the ANA and moved his show up two weeks.  Frankly, I have to laugh.  Because of the ANA’s arrogance, Jerry Morgan’s Denver ‘PRE-ANA’ Show will probably be the show to attend in May.  Why didn’t the ANA just try to communicate with Jerry?

Also the first week of May is the new date New Hampshire Coin & Currency Show in Manchester, NH.  Ernie Botte runs a quality show and we would love to attend, but for the conflict with Denver.  May now has two major shows with the Long Beach Show falling at the end of the month.   With the well attended Texas Numismatic Association Show in Ft. Worth May 17^th to the 20^th and the Garden State Show the same weekend the month is full.  Fortunately there are no shows the week before Memorial Day and the Long Beach Show the following week. 

Bozarth Numismatics Inc is a full service rare coin dealer.  We buy and sell PCGS, NGC, and CAC graded and approved high grade U.S. coins.  We sell coins at shows and on both our website bozarthcoins.com and in our Ebay store bozarthnumismaticsinc.  Because of our extensive show and buying travel schedule we can often locate those ‘hard to find’ items.  We offer free confidential want list services and will call or email you ‘first’ if we locate an item for you.  Thanks and Best Regards, Vic Bozarth/The Rare Coin Road Warrior.       

Our Show Schedule for May and June include the following shows:

Denver Spring Coin Show       Denver, CO                   May 3-5                          TABLE

ANA Spring Show                     Denver, CO                   May 9-12                        TABLE

Texas Numismatic Assoc.       Ft. Worth, TX                May 17-19                     TABLE

Long Beach Coin Show           Long Beach, CA             May30-June 1               Attending

NGC Trade & Grade                Las Vegas, NV                June 12-14                     TABLE

Greater Chicago Show            Tinley Park, IL                June 20-22                     TABLE

Whitman Coin Expo                Baltimore, MD               June 28-30                     TABLE               

March 2012

 

Dear Rare Coin Enthusiast, This morning I am somewhere over the Rocky Mountains at 34,000 feet.  I have always loved seeing new things, meeting new people, and getting to reacquaint myself with old friends.  This week’s trip is strictly for buying.  I plan to visit several high end coin dealers over the next several days and see what I can buy.  One of the big misconceptions about the rare coin profession is ‘where’ the nice coins come from.  This month I am going to explain what I have experienced over the years ‘on the road’. 

Many customers and individuals we encounter believe that our inventory came from a little old lady that had a bag of silver dollars in her sock drawer.  Yea, right?  Frankly, with maybe a half dozen exceptions in nearly thirty years of business, nice coins DO NOT walk into your store or office.  STUFF walks into your shop or office if you are a coin dealer.  Oh yes, occasionally something nice will walk in with a group of ‘stuff’.  Even more infrequently a nice collection will be offered or walk-in.  Advertising helps, but frankly I advise you put on your hip boots, because you are going to be wading through a lot of ‘stuff’.  Yes, there’s that word again. 

Don’t get me wrong, there is nothing wrong with ‘stuff’.  STUFF makes the coin market run.  Scrap silver and gold, scrap jewelry, 90% silver, modern proof and mint sets, Franklin Mint stuff, even Home Shopping Network stuff walks into coin shops or coin offices on a daily basis.  What does all of this stuff have in common?  Well first it is just stuff.  In general there is nothing rare or scarce about it.  You are probably thinking ‘sure Vic, but that STUFF can be very valuable?’  Yes, you are right, but is it RARE?  Do others really covet or desire to own one?  Sure there are the investors and hoarders who amass huge PILES of STUFF.  And yes, some of these PILES of STUFF can amount to a staggering amount of money, but once again, is it worth owning? 

Remember the old Wendy’s commercial about chicken nuggets, something about ‘parts is parts’.  Well, STUFF is STUFF.  One of the first lessons I learned in the RARE coin business was the secret to a GOOD promotion is a READY supply, i.e. plenty of STUFF.  The problem with almost ANYTHING promotable is that it is not RARE.  It may be expensive and even desirable, but it is still just STUFF.  One of my first mentors in the coin business was Fred Sweeney a K.C. area dealer who is now semi-retired.  Fred put it this way, ‘Vic, if you can buy a bucket full of it, regardless of the price, is it RARE?’  No Fred, it is NOT.

I deal in RARE coins and have to travel to find them.  Fortunately, my wife Sherri and I love to travel.  Travel can be stressful and we have dozens of not so pleasant travel stories, but the great adventures we have experienced FAR outweigh the crappy flights, crappy cars, crappy motels, and yes, crappy convention centers-HA!  The bottom line is that if I want to buy nice coins, I MUST go out and find them. 

Over the years, with my extensive show schedule, I have come to realize that finding one really nice coin is great, but to buy enough NICE coins, I have to visit other dealers who buy nice coins.  Yes, they know what these coins are worth and I have to pay a fair price.  Yes, sometimes a dealer doesn’t want to sell to another dealer.  Over the years, I have developed a very nice list of dealers who not only will sell me coins, but almost always ask, ‘when are you coming back through this area?’.  There is a very defined ‘dealer etiquette’ that I won’t explain today, but one of the first things I try to do when buying from another dealer is to put myself in their shoes ‘so to speak’. 

Although I am buying their nicest coins, I also buy other coins as well.  I don’t cherry pick their inventory and then ‘beat them to death’ on the price.  I try and buy every coin, priced reasonably, that I can make money on or at worst break even on.  Wow Vic, why would you buy a coin to break even?  Sometimes those ‘break even’ coins are nicer when you get home.  Sometimes you lose money, but bottom line is the dealer asking me when I am walking out of his establishment, when are you coming back?  You have to make it work for them too. 

Unfortunately, we are in a market where the ‘bottom feeders’ are dictating the price levels because many dealers and collectors have no choice but to sell.  They need the money.  I have been there.  The problem is the first coins they sell are most often their WORST material.  Do you think the nicest coins available are coming onto the market at the current price levels?  There may be a few, but overall the coins available in this market are “CRAPPY”.  What are crappy coins worth? 

Another K.C. area dealer also has a saying that he runs as a message on the Certified Coin Exchange, called CCE.  Basically, the saying goes something like this:  ‘do you want the oats before they go through the horse or after?’  Well, I want fresh oats, not manure.  Nice ‘fresh’ rare coins are difficult to locate, but easy to sell.  On my recent trip I was able to buy some really neat items.  Frankly, sitting in my office and hoping something nice ‘walks in’ is like watching paint dry.

Once again, my point is that buying nice coins is time consuming and difficult, but….nice coins sell quickly. 

The show schedule for late March, April, and May is busy and includes four major shows.  Next week we will be attending the ‘dynamite’ Whitman Baltimore Coin Expo at the Baltimore Convention Center.  Week after next we will drop in at the South Shore Coin Club Show in Milwaukee.  The BIG show in April is the Central States Numismatic Society Show in Schaumberg, IL.  We are also excited to include three buying trips in our March and April travel schedule. 

May is very busy with the late Spring ANA Show in Denver.  Prior to the Denver ANA Show, Jerry Morgan hosts the semi-annual Denver Spring Show held twice a year at the Great Western Center.  This year’s show will be somewhat like a pre-ANA, but with no affiliation to the ANA.  The ANA Spring Show is a new time for a show traditionally held late in the winter.  Although we love going to Denver, we are somewhat apprehensive about attendance.

The week following the ANA in Denver, the Texas Numismatic Association holds their annual show at the Will Rogers Center in Fort Worth, TX.  This is a great regional show that attracts quite a few bigger East and West Coast dealers.  We have upgraded to a corner table at the TNA and are excited about this year’s show.  The Long Beach Expo held the last week of May is the fourth major show in the next 12 weeks.  We expect Baltimore and Central States to be very active.  Bozarth Numismatics Inc show schedule for March, April, and May includes:

 

Whitman Baltimore Coin Expo.                                   March 22-24                     TABLE

South Shore Coin Club, Milwaukee, WI                     March 29 & 30                 Attending

Central States, Schaumberg, IL                                   April  18-21                       TABLE

Denver Coin Expo., Denver, CO-PRE-ANA                 May   3-6                           TABLE

ANA Spring Show, Denver, CO                                    May  10-12                        TABLE

Texas Numismatic Association, Ft Worth, TX           May  18-20                        TABLE

Long Beach, CA                                                              May 31-June 2                  Attending                                                     

 

Bozarth Numismatics is a full service rare coin dealer.  We specialize in high grade U.S. coinage independently graded by PCGS, NGC, and CAC.  We sell coins at shows, in our Ebay Store Bozarthnumismaticsinc and on our website Bozarthcoins.com.  We add new listings to our Ebay Store weekly and add new purchases to our website twice a month to coincide with the publication of our blogs, The Rare Coin Road Warrior and our Rare Coin Market Report.  We offer free and confidential want list services.  We are always buying rare high grade U.S. coins.  Please contact us whether you are buying or selling.  We will also consider trades and sometimes offer special terms.      

February 2012

Dear Rare Coin Enthusiast,

Our January was very busy although the show schedule was somewhat slow after the ‘dynamite’ Florida United Numismatists Show.  We took a long buying trip out West during the third week of January and bought some great coins from several dealers who could not attend the FUN Show.  We often follow a trip to the East Coast with a trip the following week to the West or vice versa.  The last full week of January we attended the good San Jose Coin Club Show in San Jose, CA.  This show has been relocated several times over the last few years, but the SJCC seems to have found a good new home at the Double Tree Hotel near the San Jose airport. 

Attendance in San Jose was good.  The demise of the Santa Clara Coin Show will definitely boost attendance at the San Jose show in future years, but there is some encouraging news in regard to Santa Clara as a show venue.  Scott Griffin, a San Francisco area dealer, has a show scheduled in the same Santa Clara Convention facility for August of this year.  Scott is a sharp guy and has already sold quite a few tables at this ‘new’ venue.  Scott leased ‘half’ the space used for the ‘old’ Santa Clara Show and has done a good job filling the room. 

Incidentally, Scott has also coordinated and run shows in San Francisco at the old San Francisco Mint in downtown S.F.  This ‘mint’ show was one of the coolest small venue shows I have ever attended.  Lots of dealers are quite excited to be able to continue attending a Santa Clara Show.  The ‘history’ and ‘familiarity’ with the area and the Santa Clara Convention Center should help this ‘new’ Santa Clara Show, although we are somewhat concerned that the ‘date’ will keep many East Coast dealers from attending.  The new Santa Clara Show is scheduled for the week following the ANA Summer Show held in August in Philadelphia this year. 

The Long Beach show marked the third week in a row that we jumped on a plane to head out West again.  Long Beach is like an old friend.  I have attended over 80 Long Beach Shows in a row.  Many of the hotel employees and restaurant servers near the convention center are old friends.  I even have a couple of buddies at a local Gold’s Gym there.  Long Beach has ‘flip-flopped’ in the last couple of years.  Once upon a time, the back of the bourse floor was a ‘hodge podge’ of knick-knacks, stamps, curio, and empty tables. 

The back of the bourse at Long Beach is cooking!  Many dealers who gave up their tables in years past due to poor attendance, increased table fees-up front, and insane California business rules have returned to Long Beach, but…they have taken reasonably priced tables in the ‘back’ of the bourse.  In the past dealers in the front of the Long Beach bourse floor got more business first. 

Business in Long Beach has ‘flip-flopped’!  Many customers are walking right by the bigger dealers who don’t put out coins for display or sale.  In addition, because many of these bigger dealers are too busy to deal with the public, collectors are walking to the ‘back’ of the room first.  Business in Long Beach was quite good and we are pleased with the additional activity at this major show.    

Just three days after returning home from the Long Beach Show we were on a plane again heading North to Missouri and the good St. Louis Numismatic Association Show at the Airport Hilton in St. Louis.  This show is always well attended and there is a ‘wait list’ for table space.  Unfortunately, the venue itself leaves a lot to be desired.  The bourse floor itself is crammed into a small narrow room-with nothing but curtains at one end to secure it-in front of a larger, but even more crowded ‘small’ ballroom.  Back up tables are about eighteen inches wide and must be shared with the dealer behind you.  The crowding in the aisles is chaotic.  Security is always an issue and unfortunately it takes a ‘backseat’ at this show.

Last week we attended a ‘dealers only’ show in Sarasota, FL.  This Numismatic Guarantee Corporation Show is held several times a year, mostly in Sarasota, for dealers to bring coins for NGC to grade as well as being able to trade with other dealers in a completely secure environment.  Although this isn’t a public venue, it is popular with dealers. 

Professional Coin Grading Service also holds several Trade and Grade shows each year.  Most often these are held in Las Vegas and their next show is coming up at the beginning of March.  PCGS Collector’s Club members and PCGS authorized dealers are welcome and encouraged to attend as well as the public.  Once again, security is very good at this venue and dealers like to attend.    

The first several weeks of 2012 have been quite eventful for Bozarth Numismatics.  We have expanded.  We have moved into new office space and are thrilled with the additional space as well as the additional service we will be able to offer to our customers.  Our new employees:  Stuart Bruning, Theresa Dominguez, and Mike Clark have all been a great help.  If you call our office you will most likely speak to Stuart or Theresa.  If you see us at a show, you will very likely meet Mike.  With the new office we are also keeping ‘phone’ office hours from 9:30 to 5:00 CST Monday through Friday.  If you have a question, please call or email us.   

Normally I write both a Rare Coin Market Report as well as The Rare Coin Road Warrior each month.  Because our primary focus is BUYING high grade high end rare PCGS, NGC, and CAC certified U.S. coins, we travel.  Buying coins from images or photos on the internet is great, but frankly nothing replaces a good light, magnifying glass, and box of coins right in front of you.  I buy coins SIGHT SEEN and to do that I need to travel.  We will continue our aggressive travel schedule to allow us to buy as many GREAT coins as I can find.  Unfortunately, the February Market Report was a ‘travel’ casualty.  

Upcoming shows of interest in late February, March, and April include a new show in Tinley Park, IL South of Chicago.  The small convention center in Tinley Park is very nice and newly expanded and renovated.  BUT, there are already two shows a year at this facility including the Illinois State Numismatic Show.  We will report later on the activity at this show.  March is somewhat quiet without the Santa Clara Show.  The month begins with the PCGS Las Vegas Trade and Grade and ends with the super Whitman Baltimore Coin Exposition.  Bozarth Numismatics has tables at all three of these shows.  

April starts off with another PCGS Trade and Grade in Las Vegas.  We have really come to enjoy this venue, but unfortunately PCGS has scheduled this show just five short weeks after the early March Show during the week before the Easter Holiday weekend.  Although we will attend, five weeks is too short a time period between shows and attendance will, most likely, suffer.  Other noteworthy shows held in March include the Sarasota Coin Club Show in Sarasota, FL, the Tennessee State Numismatic Society Show in Chattanooga, the C.A.M.P. Show held in Monroeville, PA, and the South Shore Coin Club Show in Milwaukee.

The Central States Numismatic Society holds their annual show in late April in Schaumberg, IL at a lovely convention facility at the Renaissance Hotel.  I attended a show here a couple of years ago and we loved the facility.  One concern is that unlike events held in Rosemont, IL with easy access to public transportation, you will probably have to drive.  Personally, I DO NOT care for Rosemont and the move to Schaumberg is a big plus for security, parking, and the nice convention center itself.  Frankly, the Rosemont Convention Center is a ‘pit’.    

Our show schedule for February through May is listed below.  If we are attending a show in your area, please make plans to attend.  We would love to meet you!  

 

ROAD RAGE!

Recently, I had an epiphany of sorts.  I am not above ‘bitching’ about things I don’t like.  BUT, and here is the rub, I don’t particularly care to hear other people ‘bitch’.  Frankly, who does, right?  Yet some subjects need to be addressed.  So here goes…

A couple of years ago a very well known dealer named Julian Leidman was robbed after attending a coin show on the East Coast.  Julian is an ‘ambassador’ for the coin business.  Not only is he a nice guy, but Julian has helped a lot of smaller dealers over the years, as well as the many serious collectors he has built substantial collections for. 

Julian is very well liked as well as highly respected.  After the robbery, a reward fund was established and lots of dealers very publicly made pledges to this fund.  No, we did not pledge or donate to this fund.  At that point in time, Bozarth Numismatics was just getting established and we didn’t have the funds to ‘pledge’.  Of course, virtually all of these dealers who promised or pledged reward money for the return of Julian’s coins did so in good faith.  At the time, I remember thinking that the best case scenario was that a coin or two might be recovered. 

Guess what?  Not only were the coins recovered, but the perpetrators were caught.  A well known dealer in the Northeast went out of his way to help with this recovery when he was offered the stolen merchandise.  This dealer took an enormous risk to himself.  He did the right thing.  Unfortunately, word on the street is that these perpetrators are ‘connected’ in some way, shape, or form.  This dealer WAS directly responsible for the recovery of Julian’s merchandise.  HE DID the right thing without any concern about getting reward money.  He took the risk of retaliation from the perpetrators.  This dealer is a hero!

Sounds like a ‘made for TV’ movie right?  WRONG!  A significant number of rare coin dealers who pledged to this reward fund have reneged.  THEY HAVE NOT honored their pledges.  I will not name names.  Frankly, I am a little embarrassed that we didn’t donate.  BUT, do you want to do business with a dealer that won’t honor their promises?  I don’t! 

Bozarth Numismatics is a full service rare coin dealer.  We offer high grade U.S. coins graded by PCGS, NGC, and CAC on both our website Bozarthcoins.com and in our Ebay Store under Bozarthnumismaticsinc.  Because we are constantly buying great rare coins we add new merchandise to our website at least twice a month.  We add new listings to our Ebay Store at least once a week.  We also offer a free confidential want list service.  Because of our extensive show and travel schedule we are often able to find coins other dealers can’t locate.  Please visit Bozarthcoins.com and Bozarthnumismaticsinc on Ebay.  You can also email or call us. 

Bozarth Numismatics Show Schedule April includes:

Tinley Park, IL Show                                                        February 23-25               Table

PCGS Trade & Grade, Las Vegas, NV                            March 1^st & 2^nd                        Table

Whitman Baltimore Coin Expo., Baltimore, MD        March 22-25                    Table

South Shore Coin Club, Milwaukee, WI                       March 29-31                    Attending

PCGS Trade & Grade, Las Vegas, NV                            April 5^th & 6^th                   Attending

Central States/Schaumberg, IL                                     April 18-21                       Table

     PNG Day CSNS                                                            April 18^th                          Table

January, 2012

Follow the Money!

Greetings from the Road,

This morning Sherri and I are on the West or the ‘left coast’.  Over the years I have found lot of great coins in lots of unusual places, but the largest concentrations of the best coins are generally in biggest cities.  The East Coast, especially the Northeast, is a ‘hotbed’ of numismatic activity.  Frankly, the oldest coins were made there-mostly in Philadelphia-and many of these coins are still coming out of the ‘woodwork’ in 2012.  We lived in South Jersey near Philadelphia for many years when I worked for Avena Rare Coins.  Although both Bobby and Danny Avena travel extensively also, I was their ‘road guy’. 

Like today, I traveled from city to city on a weekly basis mostly to coin shows.  Many of the great ‘contacts’ I have today were dealers I met years ago.  The West Coast is also a hotbed of numismatic activity.  Both Los Angeles and San Francisco are great ‘coin towns’.  The Long Beach Coin Show is one of the most well known shows on the rare coin show circuit.  In fact, the Winter Long Beach Show will be held in just a couple of weeks in early February. 

One of the sayings you hear on some of the TV crime dramas is ‘follow the money’.  Frankly, the coin business is somewhat similar, but not in a criminal way.  The biggest concentration of coins is in the Northeast because that is where most of the population is centered along with most of the money.  California is also a great place to look for coins for the same two reasons:  population and money.  There are great coins in other parts of the continental United States, but the middle of the country is ‘spotty’.  There are exceptions like Chicago and the big cities in Texas.

The Midwest, Southeast, Northwest, and Rocky Mountain states have great collectors and great coins, but the population and MONEY-there’s that word again-are just not in the same concentration as in the more densely populated areas.  Because my goal is to try and see as many of the highest grade rare coins possible, I most often travel to the biggest shows and bigger cities.  Bigger doesn’t always mean better, but the odds are that I will find more nice high grade rare coins in bigger cities. 

The show to attend in late January is the San Jose, CA Coin Club Show.  Although not the huge show, the San Jose Coin Club has consistently put together a great show for decades.  Now that the Santa Clara Show is gone, this is ‘THE SHOW’ in the Bay area.  Scott Griffiths, a Bay area dealer is putting together another show in Santa Clara to be held in August.  We are looking forward to this new Santa Clara Show, but are concerned that it is scheduled the week after the Summer ANA Show in Chicago. 

The Bay Area has had some legendary shows in the past like the Jack Tarr Shows, but the success of a bigger show attended by lots of out of state dealers will be questionable as long as the state of California continues their lopsided and incredibly short-sighted taxing practices.  Like most out of state dealers that have stopped attending will tell you, ‘why create problems for myself?’  Why indeed?

The Rare Coin Show schedule for the Winter months has some great shows.  The first week of February the Long Beach Show will be held in the Long Beach Convention Center.  Over the last couple of years this show has shown some improvement with more reasonably priced tables and increased attendance.  Dealers who ‘just walked’ this show have come back and are taking bourse tables again.  We have noticed a significant improvement. 

One of the best smaller shows in the country is in St. Louis at the airport Hilton the second week of February.  This show NEEDS to be moved, because the bourse facility is completely inadequate, unsecure, and flat out dangerous, but….the show does pack them in.  The area where the show is held leaves much to be desired also.  Several years ago the two other St. Louis Shows moved to St. Charles, MO to a newer, bigger, more secure, and MUCH cleaner facility.  Unfortunately this show doesn’t even appear in the Numismatic News’ Coin Dealer Calendar.

We will travel straight from MO after the St. Louis Show to the NGC Trade and Grade Show in Longboat Key near Sarasota.  This ‘dealers only’ show is a great little venue where dealers bring their best coins for grading and trade among themselves in a totally secure bourse area.  There are several other good shows in February including the Cleveland Coin Show, The Collectorama Show in Lakeland, FL and the Charlotte (NC) Coin Club Show. 

We are attending a new show in Tinley Park, IL (a suburb of Chicago) the last weekend of February.  Although there are two other shows held at this nice facility South of Chicago, this is a new show.  March starts with a PCGS Invitational Show in Las Vegas.  Although somewhat similar to the NGC Trade and Grade events, this show is open to PCGS Collectors Club members and invitees.  We have been pleasantly surprised with business at this show and have had a table since late last year.

The big show of the month of March is the Whitman Baltimore Coin Exposition.  This show is great!  Because of the great location and dealer friendly atmosphere, the Baltimore Show continues to thrive.  Dealers LIKE to attend this show.  The hotels are plentiful, although you MUST book early, and the restaurants are top-notch.  The convention center is easily accessed and the event is heavily attended.  Unfortunately with all great events, the ‘bad guys’ KNOW about this show.  You need to be extra vigilant when ‘out and about’ especially in the evenings. 

Other shows in March include the Sarasota Coin Club Show, the Chattanooga, TN Numismatic Society Show, the C.A.M.P. Show in Monroeville, PA and the South Shore Coin Club Show in Milwaukee the week after the Whitman Coin Expo.  There is nothing like the ‘bourse floor’ at a coin show.  At fifty plus years of age, the ‘kid in me’ comes out!  I invite you to attend a show in your area.  You gotta try it! 

Bozarth Numismatics is a full service rare coin dealer.  We offer a large selection of ‘fresh to the market’ PCGS, NGC, and CAC rare coins on both our website Bozarthcoins.com and in our EBAY Store Bozarthnumismaticsinc.  We are always buying rare high grade U.S. coins.  Because of our extensive buying trips and shows we can locate many coins other dealers just can’t find.  We offer free want list services and will call or email you if we find a coin you are looking for.  

In next month’s Rare Coin Road Warrior, I am going to introduce a new feature called ‘ROAD RAGE’.  Please see our blog in late February.

Our Show Schedule for the Winter Months includes:

Long Beach, CA Show, February 1-3    

St. Louis Coin Show, February 9-11-TABLE

NGC Trade & Grade, Longboat Key, FL, February 13 & 14-TABLE

Greater Chicago Coin Show, Tinley Park, IL-February 23-25-TABLE

PCGS Members Only Show, Las Vegas, NV-March 1 & 2-TABLE

Whitman Baltimore Coin Expo, March 22-25-TABLE

South Shore Coin Club, Milwaukee, WI, March 29-31

December 2011

Happy Holidays Coin Enthusiasts!

My name is Vic Bozarth.   I am the Rare Coin Road Warrior and my wife Sherri and I own and operate Bozarth Numismatics.  We both love our coin show travel, but some days are better than others……

Here we sit once again stranded by United (Continental Airlines).  Don’t get me wrong, both Sherri and I love our business travel, but…..This morning we left for the airport at 4:00 a.m. for our 7:35 a.m. flight.  I don’t like to fight traffic (in Houston) nor worry about missing my flight because of traffic, lack of parking, or an accident on the freeway.  This morning, we were lied to by United/Continental from the get-go.  We were confirmed on our Continental/United flight in first class, but we didn’t have seat assignments.  We paid for our tickets three months ago and used frequent flyer miles to upgrade our seats to first class.

When we left our house this morning we got on the phone and called the airline to see what our seat assignments would be.  The customer service agent was very evasive and only said ‘nothing is guaranteed’.  She didn’t tell us the flight was overbooked, oversold, or that we weren’t going to have seats on the plane, let alone the first class seats they reconfirmed by email last week.  This isn’t the first time Continental/United has LIED to us.  We were stranded after the ANA Mid-Winter Convention in Sacramento earlier this year overnight without our luggage for over 36 hours. 

One of my ‘pet peeves’ is dishonesty.  Frankly, I can tell tall tales with the best of them, but…when it comes to business, my word is my bond.  I expect others to honor their word also.  I just don’t tolerate liars and would rather forego business with a dishonest person or company than let my greed convince me that ‘it is worth it’ to deal with that LIAR. 

This morning the Continental customer service agent we finally dealt with at the airport was obviously horrified by the way we were being treated.  The airline already had our bags and basically told us if we wanted to go to Los Angeles we would take what they had to offer and tough cookies.  Oh, but we will give you your frequent flyer miles back.  LIARS hide behind lawyers and ‘doublespeak’.  Most people can easily identify a liar.  Their mouth is open!

This month’s rare coin show schedule started off with a bang in Houston with the Houston Money Show.  Yes, I am biased-we live here.  But, this show is growing and business was brisk from Thursday morning during set-up through Saturday evening when the show closed.  The weather cooperated this year-the year before last year we had a ‘freak’ six inch snow fall the second day of the show.  In Houston that usually means wet roads for an hour or two.  The weather was great and folks were actively pursuing collector coins as well as gold and silver bullion related items.  We were busy for the entire three day show. 

The second week of December dealers converged on the Ontario, CA Convention Center at the Eastern edge of greater Los Angeles.  The SoCal Coin Show is a growing venue and we believe this July and December Show will continue to grow.  The Ontario Convention Center is nearly brand new and the show hotel was only $69/night this year.  Yes, if you are looking for a Ritz Carlton or even a Hyatt you are going to be disappointed, but if you want to attend a good show and get a bourse table for a reasonable price in the largest population metropolitan area in the entire United States, Ontario is a great bet.  People are still learning about this show and we believe patience on the part of the great people Frank and Dawn who run this show will most definitely pay off in years to come.  After all, the Baltimore Show started out pretty small.

Who doesn’t love Vegas?  Although I am not much of a gambler, I will play a few hands of poker now and again.  Yet Vegas has so many things going on besides gambling including the great PCGS Trade and Grade Shows held here several times a year.  We were really pleased to have a table at this super show this month and hope to continue attending in the future.  The Professional Coin Grading Service is the gold standard for the coin grading industry and they run a ‘class’ operation.  Members of their collector’s club are welcome to attend this show and there are even refreshments.  The venue itself in the palatial Palazzo/Venetian Casino complex is absolutely incredible and one doesn’t need to leave the building to find virtually anything one’s heart desires.  The restaurants and shopping options are totally first class and this show ‘fits right in’.  Hey, you can even take a gondola ride!

And now we turn to the back page where we find the obituaries.  I am truly saddened by the ‘death’ of the Santa Clara Coin Show.  Santa Clara has been one of my favorite show venues for a couple of decades.  In my earlier years working for companies on the East Coast we would take an evening flight from Philly or Newark, watch a movie, relax, and six hours later land in San Francisco or San Jose with time to still catch a late dinner.  This show used to have a Wednesday afternoon set-up and lots of dealers, myself included, loved the schedule because we could work in our offices all day Monday and Tuesday, do the show Wednesday and Thursday, and still be home at a reasonable time Friday to have a decent weekend. 

The Westin Hotel, later purchased by Hyatt, was so convenient with the connection to the convention center.  One of the best things about the Santa Clara Show was the great coins that came out of the ‘wood work’ here.  Multiple dealers didn’t fly from all over the country to attend for no reason.  Security was excellent and the business was good.  The Bay area is going to sorely miss this great show.  Santa Clara Rest in Peace.       

Bozarth Numismatics is a full service rare coin dealer.  We buy, sell, and trade high grade PCGS, NGC, and CAC coins on our website bozarthcoins.com and in our ebaY Store, bozarthnumismaticsinc, as well as at nearly 40 shows each and every year.  We offer free confidential want list services and are often able to locate hard to find items because of our extensive show travel schedule.  Listed below are the upcoming shows Bozarth Numismatics will be attending during the next couple of months.  

 

FUN Show, Orlando, FL-TABLE

San Jose Coin Show, San Jose, CA

Long Beach Coin Show, Long Beach, CA

St. Louis Coin Show, TABLE

NGC Trade & Grade, Sarasota, FL-TABLE

November 2011

Including Baltimore Show Report

Dear Rare Coin Enthusiast,

Hi, my name is Vic Bozarth and I am the Rare Coin Road Warrior.  Rare Coin Shows are my life and I attend forty shows each year all over the continental United States.  My wife Sherri and I have the luxury of traveling together and we love it!  This week’s Baltimore Show holds a special place in my heart.  I proposed to my lovely wife here while attending the show nine years ago this week, and surprisingly-she accepted!

This week Sherri and I are attending the single best commercial coin show in the United States-The Whitman Baltimore Coin Exposition.  Why do I believe the November Whitman Baltimore Show is the best single coin show in the United States?  The answer my friends is attendance.  Baltimore draws the dealers and collectors in on a consistent basis like no other coin show.  Yes, this year’s ANA Summer World’s Fair of Money was an incredible show, but consistently year after year the November Baltimore packs them in. 

Baltimore is a great city to visit and the proximity to nearly half the population in the continental U.S. has a lot to do with the success of the show.  Approximately half of the population of the United States are within a six hour driving radius of Baltimore.  You can drive here, fly here, or take the train here.  Public transportation is convenient with the train station within a few blocks of the convention center.  There is an Amtrak kiosk right in the convention center.  You can find a comfortable hotel close to the convention center or drive a little bit and find a less expensive motel room.  In the evening when the show is closed there are great restaurants and plenty of entertainment options to please nearly everyone. 

Personally I think one of the biggest reasons behind the success of the Baltimore Show is the way Whitman Publishing runs the show.  While many larger show venues charge over $1000 for a bourse table, Whitman will still sell you space to display your coins to the public for $650.  Bourse space is sold out for the November Show quite frequently and the March and June shows also enjoy great attendance.  Dealers like to come to Baltimore.  Dealers ARE NOT penalized if they need to leave early.  In fact, the folks at Whitman encourage dealers with tables in the back of the room to move up into vacated tables near the front on Saturday and Sunday.  BUT, one of the most interesting aspects of this show is that dealers like Bozarth Numismatics want to stay longer versus leaving Friday. 

If there is business to be done late Saturday and even Sunday dealers will stay.  If not, they are going to go home.  Whitman’s success with the Baltimore Show wasn’t all their own.  Both Gordon Berg and Ed Kuszmar who sold the show to Whitman several years ago built this great show from the ‘ground up’.  The Baltimore Show didn’t start out ‘big’.  The show grew over the years because it ‘attracted’ both dealers and the public.  Kudos must go to Whitman for not changing Gordon and Eds’ formula for success.  They didn’t ‘jack up’ table prices to run the smaller dealers out of the room, nor create a bunch of nonsense rules dealers have to abide by to attend their show. 

Like I have often said, if there is business to be done, dealers would probably attend a show in a barn in the middle of the night.  HA!  I am not the only dealer who feels this way about Baltimore.  Lori Hamrick who works for the Whitman organization not only knows virtually every dealer attending the show, but goes out of her way to make sure dealers are comfortable and have what they need to conduct their business.  There are lots of great shows on the rare coin bourse circuit and two of the best are coming up in early December and the first week in January. 

The Houston Money Show has gone from a marginal show held in Greenspoint Mall on the North side of Houston to the biggest showinf the month of December.  Unfortunately locals in Houston refer to Greenspoint Mall as ‘Gunpoint’ Mall and the show was never going to prosper with the underlying security issues surrounding both the location of the mall and the bourse room itself- an empty department store.  Fast forward several years and the show is now held in the lovely George R. Brown Convention Center in downtown Houston.  The Convention Center is right across the street from Minute Maid Ballpark where the Houston Astros play and is conveniently connected via skywalk to one of Hilton’s  nicest hotels in the United States-the Hilton Americas Hotel.  If you don’t have the Houston Money Show on your calendar you are missing out, because this is a growing show in the third largest city in the United States. 

The FUN Show starts off the new year with a bang!  The Florida United Numismatists draws a lot of dealers that don’t attend any other shows, but have to get out of the snow and cold of the North to enjoy a little sun and FUN in the sunshine state.  FUN is a dealer friendly show which does a good job of balancing the desires of the members of the FUN organization with the needs of the dealers.  Advertising is extensive.  Orlando has something for everyone and many dealers bring their families.  I always try to emphasize the security issues at shows.  Because criminals view tourists as ‘easy marks’ Orlando can be dangerous.  Put your coins in security and enjoy yourself before the show.  There is plenty of time at the show to get your business done. 

The rare coin show circuit has been quite busy this month.  Late last month we attended the Denver Show with great results.  We arrived to snow, but left wearing shorts.  Denver is such a great city.  We are excited about both the Spring ANA Show in Denver next May as well as the unofficial ‘pre-show’ being held the weekend before by Jerry Morgan who runs the two semi-annual shows in Denver.  In fact, we reserved a corner table at Jerry’s show because we expect it to be a great show.  Book your hotel room early for either of these shows, because Denver can be surprisingly pricey for hotels regardless of the time of year.   

We heard good reports from the Indiana State Show in Indianapolis early in the month.  Last week’s show in Boston-The Bay State Show held in conjunction with the Coppers Collector’s Show was well attended.  Also on the show schedule this month were the Minneapolis Show and the Santa Clara Coin Show in the S.F. Bay area.  Santa Clara is a good show with scheduling issues this year and attendance will be down because dealers can only attend Baltimore or Santa Clara.  Although I have only attended the Minneapolis show a couple of times, I know from other dealers that it is a good little show.

We have not been able to squeeze the Chattanooga, TN Show into our schedule.  We have heard good things about this show and hopefully will one day be able to attend.  Over Thanksgiving weekend the Michigan State Numismatic Society holds their annual Winter Show in Dearborn at the Hyatt Regency Hotel.  There is a smaller show in Pasadena, Texas (a Houston suburb) over Thanksgiving also.  I don’t want to forget to mention the good show in Ontario, CA being held the second week of December.  This is a good show in a great facility that has ‘legs’.  This show will get bigger. 

One of the newer coin shows on the ‘circuit’ is the PCGS Las Vegas ‘Trade and Grade’.  Although PCGS has been holding several of these a year now for a couple of years, we didn’t attend our first ‘Invitational’ until late September.  Not only were we pleasantly surprised with the amount of dealer trade, but we met several serious collectors and enjoyed ourselves immensely.  Don Willis, the president of PCGS, went out of his way to make us comfortable.  The Palazzo Casino and Hotel is luxurious and immense.  Connected to the equally luxurious and plush Venetian Casino this is a city in and of itself and is well worth checking out.  We have a table of our own for the December Show open to the public December 15^th, 16^th, and the morning of the 17^th.   This show isn’t just for dealers only and PCGS members are welcome to attend. 

Each month I write the Rare Coin Road Warrior Column to give you the reader an insider’s view on the rare coin show circuit from a dealer’s perspective.  I love coin shows and try to be positive in my comments, but sometimes the ‘foibles’ of an organization or individual running a show need to be exposed.  My comments are my own and you the reader are welcome to agree or not.  Most collectors have the luxury of attending only a couple of shows a year.  My goal is to try and give them some options about what shows are worth attending.

Baltimore Show Report

Baltimore more than lived up to everyone’s expectations this last week.  We were extremely pleased with both overall attendance and sales at the show.  Sales at the November Baltimore Show are almost always good, but with the ‘softer’ rare coin market and pre-show drop in gold bullion prices most dealers were a little apprehensive about their prospects when the show opened Thursday morning.  Although I try and get around the bourse floor to both buy fresh coins and see old friends, I was busy at our table from early Thursday morning until we packed up to fly home at noon on Saturday.  Fortunately I have quite a few dealers who bring me deals and I was very pleased to be able to bring home over 200 fresh new purchase coins.    

The Stacks Bowers auction was well attended and both dealers and the huge number of serious collectors that attend the show were aggressively buying.  I have written extensively over the last year about the relative bargains in rare coins at the current market levels.  One dealer friend voiced my sentiments exactly when he said, ‘Vic, I really don’t mind paying a premium for nice stuff at these levels, but where do I find it.’  Finding nice high grade certified rare coins is becoming more of a challenge with each show we attend.  Dealers who have felt the pinch of the ‘slower’ economy and coin market over the last few years are not as likely to sell a coin at the bid levels NOW as they might have just six months to a year ago.  They know they cannot replace that coin at current levels.

While Baltimore is thriving, conversely the Santa Clara Show is done.  Due to lack of attendance, by both dealers and the public, the LAST Santa Clara Coin Show was held last week in Santa Clara, CA.  Personally, I have always liked this show.  Unfortunately there have been several factors which led to the show’s demise.  First and foremost in my mind was the short-sighted ‘Nexus’ legislation which basically forced non-California dealers to limit their in California Show days to twelve or less each year or be forced to be taxed as a California corporation.  Second, although bourse table prices have been reduced in the last couple of years, a lot of dealers who left because of the increased fees, found someplace else to do business.  This year the Santa Clara Show dates conflicted with those of the Baltimore Show.  Guess who won? 

Bozarth Numismatics Inc. is a full service rare coin dealer.  We travel to forty coin shows a year to BUY ‘fresh to the market’ PCGS, NGC, and CAC coins for our customers.  We also buy raw-ungraded coins to submit for grading and then sell.  We buy, sell, and trade rare coins at shows, via our website bozarthcoins.com and also in our eBay Store bozarthnumismaticsinc.  Because of our extensive show travel schedule we are often able to locate coins other dealers can’t find.  We offer free want list services and have had the pleasure in helping to build some really incredible sets of certified U.S. coins.  We add new coins to our eBay store every week and we update our website with our BEST coins at least twice a month.  If you are looking for a ‘hard to find’ rare coin, check us out.  I always tell customers, ‘if the coin isn’t nice, I won’t waste your time (or mine) sending it to you’.  Thanks and Best Regards, Vic Bozarth-the Rare Coin Road Warrior. 

October 2011

Dear Rare Coin Enthusiast, My comments in this month’s Rare Coin Road Warrior have been written at two points in time.  I wanted to share my thoughts both before the show and after the show without my ‘pre show’ comments being ‘tainted’ by my experiences at the show.  My ‘post show’ comments are included at the end of this article and I think you will find my conclusions interesting. 

This afternoon, Monday October 10^th, I am at 35 thousand feet on a Continental flight to Pittsburgh for the NEW American Numismatic Association Fall Show.  Both Sherri and I are excited about this new venue on the rare coin show circuit, but whether or not this show proves to be successful is still anyone’s guess.  Although the ANA Summer Show in Chicago was a fantastic show, we have seen some sluggishness in the market since August.  With the drop in gold and silver bullion prices there is definitely some uncertainty as to the direction the market will go. 

Over the last several months I have been pretty vocal about the booming rare coin market to come.  Personally I still believe the coin market is on the edge of a ‘great run’.  The question is when?  With the uncertain metal markets my prediction of a market run is definitely questionable.  Yet, I believe the coin market is poised for great things.  Why?

Let me tell you what the rare coin road warrior has seen recently on the road.

After the metals market took a big correction nearly thirty days ago, I am certain many of us had the ‘here we go again’ feeling.  Is this just a correction or will gold and silver continue to fall?  The manipulation of the marketing of the metals itself is quite interesting.  Although my specialty is high grade U.S. certified coins, the biggest factor in the metals market today is physical supply.  What is the old saying ‘he who has the gold makes the rules’.

Unfortunately our government is printing ‘green gold’ as fast as they can.  But, dealers who actually have a physical supply (or ready access metals) still make the markets.  For example, just because gold is down doesn’t mean you can buy bullion gold or Saints at the lower levels.  Yes, there are coins available, but not in any huge quantities.  AND, the premiums dealers charge on bullion has increased pretty dramatically percentage wise.  Why is that?

Many believe the market is taking a ‘breather’.  When I asked a major dealer at the PCGS Trade and Grade Show in Las Vegas what was going on with the $20 Saint/Liberty market, he was quick to reply ‘no one has any quantity’.  And, he said…….’those that do, won’t sell them at these levels’.  What I am seeing is higher premiums for the type gold coins that are available.’   My friend is a buyer for one of the largest type gold market makers in the country.  He is at the top of the market.

Let me give you another example from a smaller dealer here in Texas.  This gentleman does 35 shows a year, although some are one day shows with as few as 25 tables.  When I bought some other rare coins from him recently the topic of the supply and pricing of type gold came up.  His comments were very similar, albeit from a different angle.  He said, ‘last week I had a customer who wanted 50 Saints in MS64.  Over a three week period where I attended three smaller shows, I was able to buy ten.  I was forced to buy the remainder from one of the ‘big boys’ because there were NONE available at the shows I attended.’ 

Don’t get me wrong, if you want to buy 50 Saints in any grade up to MS66 it can be done.  But you are going to have to pay a bigger premium.  Not only isn’t there any physical supply at the smaller shows, but if you really need them you have no choice but to pay the premium.  Wouldn’t the premiums be smaller if the market was SOFT?

Increased demand for high grade U.S. rarities is a fact.  This rare coin market is different than it was just a couple of short years ago.  At the Vegas Trade and Grade, our wholesale inventory was picked over.  In the previous three weeks we had attended both the Long Beach Coin Show and the Whitman Philadelphia Coin Exposition.  My expectations for sales at Las Vegas were mediocre at best.  We had lots of coins in the system for grading or CAC approval, but we had very little fresh material. 

Much to my surprise, our sales were good to very good considering our overall inventory.  Dealers were stocking coins I would best describe as average-I would not have listed them on our website.  All of these guys (dealers) and I are on a first name basis-we talk.  When I asked one close dealer friend what he was buying, his reply was kind of funny.  He said, ‘I am buying the nicest coins I can find and they aren’t very nice’. 

One of the biggest draws for PCGS at their Trade and Grade Shows is the ‘fresh material’ dealers get back from PCGS after being graded at the show.  These are great venues for dealers because we can submit our coins and find fresh material without the distractions and security risks associated with bigger shows like the ANA in Pittsburgh this week.  Ironically, I found one of the biggest benefits from doing the show was selling ‘old’ inventory.  Nice coins just aren’t out there in any quantity and average coins are selling quickly-doesn’t sound like a DOWN market to me?

The show news is good.  The autumn months are traditionally some of the most active in our business.  This month the two biggies are the ANA Fall Show in Pittsburgh, PA and the Silver Dollar Show in St. Louis, MO.  Unfortunately, similar to the September schedule, having the two biggest shows of the month on back to back weeks ‘hamstrings’ both shows.  Of course, the St. Louis Show will take the biggest hit because it is second on the schedule and it doesn’t have the benefit of the marketing and membership of the 800 pound gorilla-the ANA.

Now I would like to fast forward six days and share my experiences after attending the ANA Fall Show this week in Pittsburgh. 

I am sitting in the comfort of my lazy boy recliner this morning with a huge cup of strong coffee and ESPN on the TV in the background.  It is Sunday October 16^th and Sherri and I pulled into our driveway about ten o’clock last night after a grueling week on the road.  Needless to say, Sherri and I are very happy to be home. 

We had a good show.  The ANA and the local Pittsburgh coin club volunteers went out of their way to make the first ANA Fall Show a success.  Our business was steady from start to finish at the ANA show itself.  We were very pleased and personally I would grade the show:  B-.  Were all the dealers I spoke to at the show Saturday happy with the show?  NO.

We heard several very negative comments about sales at the show.  One dealer commented that this show was only the third ‘loser’ for him in his last fifty shows.  Another commented that his ‘retail’ sales weren’t enough to cover his airfare let alone the table expense, food, and lodging.  All I can do is share MY impressions from the show.  We are definitely experiencing some sluggishness in the market, but…..RARE COINS ARE SELLING if you can find them. 

Tuesday evening the Professional Numismatists Guild had dealer set-up for the PNG day being held Wednesday.  Granted the convention hall was huge, but the ‘buzz’ in the room usually experienced at least during the first few hours of set-up was just not there.  PNG day itself was DEAD!  When the doors opened to invited guests at ten a.m. the few numismatists through the door could best be described as a ‘trickle’.  Around lunch time a few more people ‘trickled’ in, but overall the PNG day was very disappointing.  The PNG sold 38 tables for the PNG day in Pittsburgh.  Most PNG dealers I talked to shared the same opinion-there are just too many shows. 

Pittsburgh itself is a really picturesque, historical, and vibrant city.  There is money in Pittsburgh and the 2003 Summer ANA was one of the best shows I ever attended.  The convention center and show hotels were adequate and there are lots of neat places to eat as well as entertainment options galore.  Personally, we very rarely get past room service or dinner in the hotel restaurant at shows.  We are at shows to work.  Although there was a potential problem with a ‘Wall Street’ protest march being held in downtown Pittsburgh Saturday, it did not adversely affect the show, but the three big sporting events, including a Penn State football game, did not help. 

Overall, I have to say the show was a success.  B- is a passing grade in any school-HA!  The ANA did a good job with the show, although, the lack of postal facilities at the show itself was both a security concern and major inconvenience to a lot of dealers.  The ANA had no control over the post office ‘backing out’ of having a facility at the show at the very last minute. 

Sales are usually the biggest factor in ‘grading’ a show, but for us purchases are the most important.  Pittsburgh was one of the best ‘buying’ shows I have had in the last year.  Most of these great coins will appear on our website bozarthcoins.com, or in our eBay Store, bozarthnumismaticsinc  in the next several days. 

This next week we are off to the Silver Dollar Show in St. Charles, MO.  This is a great more regionally oriented show held in a great facility in a suburb west of St. Louis, MO.  Our show schedule for the remainder of the year includes:

Silver Dollar Show, St. Charles, MO                 TABLE

Denver Coin Expo., Denver, CO                        Buying only

Whitman Coin Expo, Baltimore, MD               TABLE

Pasadena, TX                                                         Buying only

Houston Money Show                                         TABLE

Ontario, CA Show                                                 Buying only

PCGS Las Vegas Trade & Grade                          TABLE (pending)

2012:

FUN Show, Orlando, FL                                        TABLE

Bozarth Numismatics is a full service rare coin company.  We offer new ‘fresh to the market’ rare coins on our website, bozarthcoins.com at least two to three times per month and we constantly add new coins to our eBay Store, bozarthnumismaticsinc.  We are PCGS, NGC, and CAC authorized dealers and offer both free want list services and portfolio/collection consultations.  Because we travel over 200 days a year buying coins, we can offer more NEAT rare coins than most other dealers.  Check us out.  

Coast to Coast – September 2011

 Hi my name is Vic Bozarth and I am the Rare Coin Road Warrior.  This morning I am writing from my hotel room in Philadelphia where I am attending the Philadelphia Whitman Coin Expo.  The show opened this morning for dealers and the public was admitted at noon.  Attendance has been fair to good considering that the Long Beach Show, on the opposite coast was just last week.  Frankly, a lot of dealers couldn’t ‘reload’ in just four days.  While there is no question that both Long Beach and Philadelphia lost attendance because of scheduling, all the ‘diehards’ were here and there!

After an outstanding ANA Show last month in August at the Rosemont Convention Center in Chicago, we had expected a better Long Beach Show.  Attendance was lackluster and the drop in gold bullion price levels preceding the show really put a damper on business.  A lot of dealers have returned to renting tables in the last couple of years and there was still business to be done.  Part of the ‘reality’ of the coin business is that just attending a show doesn’t guarantee you will find what you are looking for.

New ‘fresh to the market’ coins just aren’t available with any consistency.  I try to look at as many high grade coins as time permits.  Attending the larger shows gives me access to a large quantity of high grade U.S. coins, but you have to go through a lot of average coins to find the ‘keepers’.  Today I was excited to buy a nice little group of raw BU Indian Cents at the show.  Although the coins are not all that rare, they are highly desirable and just not available ‘fresh out of an original set’ very often.  Most coins I buy are already slabbed by PCGS or NGC.  They often have CAC stickers or I send them to CAC myself. 

I am always looking for coins with exceptional eye appeal.  Lovely coins always sell.  Finding enough nice single PQ-premium quality coins isn’t easy.  Within the trade dealers call average ‘slabbed’ coins ‘Product’.  If you are just looking for average ‘product’ coins will work.  Nice PQ coins aren’t easy to find, but are less a function of price and more a function of quality and eye appeal.  Product coins are more a function of price first and average (acceptable) quality second. 

Buying coins is cyclical in that more coins come onto the market when sellers perceive that dealers are willing to pay more.  Dealers are willing to pay more for nice coins, but there are two major obstacles to more nice coins coming onto the market.  First, knowledge that coins are bringing more money hasn’t trickled down to the collectors and/or investors that have coins to sell.  Second, prices just haven’t risen ENOUGH to make it worthwhile for those same sellers.  In any case, there are coins that always sell regardless of timing or market conditions.  I call these ‘already sold’ coins.   

  Some coins are already sold when you buy them.  Some coins are in such demand at all times that there are multiple customers for that particular coin if and when it is becomes available.  In other words, if you find a nice one at the right price level the coin is already sold for a fair profit.  Most of the key date coins from the major collector series fall into this category IF they are nice.  You can almost always sell a 1916D Mercury Dime or an 1889CC Morgan Dollar.  When you find a nice example of either date at a fair price you just buy it.  Even if a small hoard of key date coins comes on the market they will be absorbed very quickly.

Collectors who have want lists with one or more trusted dealers’ usually get ‘first shot’ at coins like the 1916D Mercury or the 1889CC Morgan.  They never appear on a pricelist or website.  They are ‘already sold’.  Admittedly, I might find half a dozen coins like this at a big show.  If someone is building a set you might find more, but those ‘already sold’ coins don’t grow on trees.  As a dealer I am always hoping to walk into a forest of ‘already sold’ coins.  To that end, I am attending as many shows as I can fit into my travel schedule this Fall and hope to find some ‘goodies’.

Our extensive show schedule this Fall includes trips to all the major U.S. coin shows, as well as several good regional coin shows.  The ‘new kid on the block’ this Fall is the ANA Fall Coin Show in Pittsburgh, PA.  This is a new venture by the ANA.  With the ANA’s backing and extensive publicity I am excited about the show, but only time will tell.  Like many ANA shows held in the past, hotels in the immediate vicinity of the show are hard to find and pricey.  Transportation is also a big negative factor.  If you don’t have a ticket yet-good luck.  Prices to fly into Pittsburgh are quite outrageous from most markets especially after US Air closed their Pittsburgh, PA hub.  Indeed, I was trying to attend the good C.A.M.P. pre-show held by John Sarosi in Monroeville, PA the weekend before, but decided against attending after being quoted over $1000 for airline tickets.    

The Silver Dollar Show in St. Charles, MO is being held the week following the ANA Pittsburgh Show.  This is no longer a major, although NGC still grades ‘on site’ there. The Silver Dollar Show is a pretty good show but it is not what it once was, and the ANA scheduling their new Fall show the week prior will really hurt this show.  All you have to do is look at the example of the Long Beach and Whitman Philadelphia Shows this month to see what will happen.  There will be empty tables at both shows.  We are also attending a good regional show in Denver in late October.

November is a great coin month normally, but this year both the Whitman Baltimore Coin Expo and the Santa Clara Coin Expo are scheduled on the same week.  This is very unfortunate, mostly for the Santa Clara Show, because the Whitman Fall Show is the best commercial show in the country and the empty tables will predominantly be in Santa Clara.  Also in November are great regional shows in Indianapolis and Boston, MA.  The Indiana State Show is a great show that I just can’t seem to fit into my schedule, although I want to attend.  The Bay State Show is a good show that is being held in conjunction with the early Copper Show.    

There are two good shows in December including the Houston Money Show which is as major a show as December has to offer.  This show is growing and will continue to grow.  We are somewhat biased because we live in the area, but you won’t be disappointed because the show has great attendance by both dealers and collectors.  The Ontario, CA coin show the following week is growing.  Although we don’t take tables at CA shows, we do encourage others to attend this good show in the greater Los Angeles, CA area.  There is also a PCGS Trade and Grade Show being held in December in Las Vegas which we will be attending also.

 

August 2011

 Greetings Fellow Numismatists,

My name is Vic Bozarth and I am the Rare Coin Road Warrior.  Each year, my wife Sherri and I attend 40 coin shows all over the continental United States.    

 Another ANA’s World’s Fair of Money annual convention is now behind us.  Often touted as ‘The Numismatic Event of the Year!’ this year’s ANA truly lived up to all the hype and expectations of both collectors and dealers in attendance.  Indeed, I have often had less than complimentary things to say about how ANA conventions are run.   This year’s ANA event was not only the biggest in recent memory, but it was the best ANA that collectors and dealers have attended for quite a few years.  Personally, I must admit publicly ‘I was wrong’. 

The ANA staff deserves the highest of compliments.  Not only did they pull off the largest numismatic event of the year, but they did so with an unusual and quite welcome balance of consideration for both collectors and dealers.  Larry Shepherd the ANA Director, Rhonda Scurek the ANA Show Coordinator, and the entire ANA staff did a wonderful job with this year’s show. 

Admittedly, balancing the desires of collectors and the needs of dealers is most often a thankless task.  Yet, the convention venue in Rosemont, IL was more than adequate and the events and exhibits were top notch.  Yes, there were some ‘snafu’s’.  BUT, overall the resounding majority of both collectors and dealers left the show with a smile on their face.

We arrived at Chicago’s O’Hare airport on Thursday the eleventh.  The pre-show event schedule included a large Heritage Auction at an off-site Hotel near the Rosemont Convention Center.  Attendance was good and bidding was aggressive.  On Friday the 12^th the PNG/ANA pre-show opened with a PNG membership meeting and early dinner at the convention center.  The PNG meeting was very well attended.  Activity during the two hour Friday evening dealer set-up was quietly frenzied because the bourse hall was incredibly large and the 80 PNG dealers with tables were spread out all over the room.  

This year’s cooperative effort between the ANA and PNG didn’t start off perfectly.  There was some miscommunication on both sides and only PNG dealers were allowed to set-up Friday night while the other 30 non-PNG dealers who had tables were not allowed to set-up until noon on Saturday.  This ‘exclusivity’ was wrong and resulted in the ANA being able to sell only 30 pre-show tables.  Indeed, the membership at the PNG meeting overwhelmingly voted to invite ALL ANA World’s Fair of Money pre-show table holders to be able to set-up at the same time at next year’s convention in Philadelphia.     

This serious oversight was addressed and new rules agreed to by both representatives of the ANA and PNG will allow ALL table holders to set-up at next year’s pre-show at the same time on Saturday morning.  Once again, I must say I am quite pleased with the cooperation shown by both the ANA and PNG.  My feelings personally are that both the PNG and ANA need to act proactively to ‘attract’ all dealers to all shows.  The more people who attend bring more coins which allows more business which is, in turn, better for all involved. 

The pre-show was held non-stop through Monday afternoon when the ANA Show dealer set-up started.  Although the room dwarfed the approximately 110 tabled dealers in attendance, virtually all pre-show table holders reported they had good shows.  Another convention, Comicon, for science fiction and comic book enthusiasts was being held at the Rosemont convention center during the pre-show.  Attendance for Comicon was staggering with lines to get into the show stretching outside and around the convention center itself.  Parking and hotel space were completely overwhelmed and many coin dealers and pre-show attendees were unhappy with the parking shortage.  Fortunately the Comicon convention ended prior to the start of the full ANA show.

Dealer set-up for the ANA itself was busy from the start.  Buying on the bourse floor as well as the Stacks Bowers ANA Auction was strong and often frenzied.  Rising gold bullion price levels are fueling brisk dealer to dealer trading.  Although trading was very busy throughout both shows, nice numismatic material is in quite short supply.  Both dealers and collectors were hard pressed to find any quantity of scarce material.  Rare and desirable items went quickly and more often than not at above dealer wholesale levels.  In fact, the general feeling among dealers is that prices must go up to force more material onto the market. 

Rising bullion prices are bringing more common type gold coins and bullion related items out, but scarce numismatic items are in very short supply.  Sales were brisk throughout the show and I expect this to continue at least through the end of the year.  The bullion frenzy is pushing our market, but collectors and dealers alike know they must buy good material now because it will likely cost more next time around.  Demand for coins is much higher now than the supply of coins available at current market prices.

Next year’s ANA Summer Show will be in Philadelphia which hosted a dynamite ANA World’s Fair of Money in 2001?  We are looking forward to next year’s show in Philadelphia, but we are quite pleased that the ANA will be returning to Rosemont, IL for their annual Summer Show for the 2013, 2014, and 2015 conventions.  Rosemont/Chicago is a great centrally located show venue. 

Our upcoming Autumn and Winter Show schedule is exciting and busy.  Listed below are the dates and locations of the shows we will be attending.  Part of the fun of attending coin shows is the great people we get to meet.  Please stop by our table at any of these fine venues and introduce yourself.  Because we attended both the ANA and ANA pre-show and spent nearly 80 total hours on the bourse floor we were able to buy quite a few nice coins. 

Bozarth Numismatics Show Schedule for September through December includes:

 

Long Beach, CA-Buying Only

Phildelphia, PA/Whitman Coin Expo.

Las Vegas, NV-PCGS Trade & Grade

Pittsburgh, PA-ANA Fall Show

St. Louis, MO-National Silver Dollar Show

Denver, CO

Indianapolis, IN

Dallas, TX/NGC Trade & Grade

Baltimore, MD/Whitman Coin Expo.   

Pasadena, TX

Houston, TX-The Money Show

Ontario, CA-Buying Only

July 2011

What I did on my Summer Vacation (between coin shows)

Dear Rare Coin Enthusiast, The Dog Days of Summer are here and we are hiding from the heat in Colorado.  Our home in Texas is hot, dry, and although lovely, pretty uncomfortable during the Summer.  This Summer Sherri, my wife/boss and co-owner of Bozarth Numismatics, and I decided we would mix things up a little and take our travel schedule somewhere cooler.  This evening I am writing my monthly Rare Coin Road Warrior column next to a Rocky Mountain stream in a condominium in Estes Park, CO.  Yes, we are spoiled, but seriously we have taken two weeks of vacation between three shows.  

Coin Shows are our life, but the travel and people we meet along the way are the reward.  In this month’s RCRW I am going to write about some of our experiences along the way.  Please bear with me, I will get to the coin show news.

Although we fly to virtually all the shows we attend, we decided to drive to Colorado this summer.  The drive itself is pretty grueling, but we were amazed with the scenery and vistas we encountered on our trip.  Contrary to what many would think, North Texas, Northwest New Mexico, and Southeastern Colorado aren’t ALL desert.  We drove through some incredible farmland.  One of the most surreal impressions from our trip was the wind farms we passed along the way.  These wind farms are made up of HUGE windmills usually placed on a ridge to catch the dry hot winds of the region.  The windmills themselves are over 100 feet in height and you can see them for miles and miles and miles.  Unfortunately, several local residents we talked to along the way informed us that the primary reason for the windmills wasn’t power generation, but most importantly the control of water rights in this arid region. 

When you first enter Colorado from the East you are on the high plains where the elevation is already around 4000 feet.  The high plains are really scenic although very sparsely populated.  Occasionally we would pass the drive to a big ranch although the homes were very rarely in sight from the road.  Incredible vistas greeted us as we drove through miles of scrub brush, mesquite, and interesting rock formations.  We saw deer, antelope, coyotes, fox, and lots of cattle.  As we continued north into Colorado we saw the shadow of something far to the west.  If you have ever driven west across Kansas or northwest from Oklahoma and Texas your first view of the Rockies is almost like a dark cloud on the horizon.  When you first see this ‘cloud’ you are still nearly 100 miles away from just the foothills of the Rocky Mountains. 

During our trip we were able to ‘hit’ a couple of coin shops along the way.  Towns and people are scarce in these parts, but the people we met along the way were very hospitable.  Our destination was Estes Park, Colorado which is the gateway for Rocky Mountain National Park.  Estes Park is at 8000 feet elevation and the area is picture postcard perfect.  Our first night in Estes Park we had two huge bull elk on the patio of our rental condo lapping sugar water out of a hummingbird feeder!   During our trip we also saw a cow and calf moose on the West side of Rocky Mountain National Park and more deer, antelope, and elk than we could count.  Needless to say, the trip has been fantastic.  Now let me get to the coin show news. 

Although I try to avoid coin shows on both the Fourth of July and Thanksgiving weekends, we decided to attend the Colorado Springs Show held each year on the Fourth of July weekend.  This is a well run show and there are a lot of varied collectors and dealers who attend.  Not only are there attendees from the ANA Summer seminars, but there are also lots of dealers from across the country and the region.  Ken Byrd and the Colorado Springs Coin Club held the show in a Crown Plaza just off I-25 on the Southern edge of the city.  The location is new and the facility is convenient, clean, well secured, and there is plenty of parking.  From what I understand the show is going to add some space next year for more dealers and dealers liked the new location.

The week following the ‘Fourth’ we attended the Summer FUN Show in Orlando, FL.  The FUN organization is probably the ‘best run’ coin club in the U.S.  Although the Summer Show is smaller and not as well attended as their winter extravaganza, the business was good and we were pleasantly surprised with our total sales as well as the coins we were able to buy.  The great people with FUN-Florida United Numismatists organization, led by Cindy Wibker, are real professionals.  After all, they have been running the largest coin bourse in the United States for quite a few years.  This is the largest show for the month of July and most dealers I spoke with were pleased with the attendance.  In fact, many dealers come early for the Fourth of July weekend and attend the Clearwater, FL show on Fourth of July weekend. 

We also heard mixed to good reports about the new Summer Show held in Tinley Park, IL, a suburb of Chicago.  The Illinois Numismatic Society has their annual show at this location in September and the facility and attendance there are good.  This summer show is new and should prosper because it is filling a ‘void’ left when the Mid-America Summer Coin Show was discontinued.  Personally I would like to see this show being held a week earlier to avoid conflicts with both the Colorado Springs and Clearwater Shows. 

The middle of July we are attending the Ontario, CA Show.  The Ontario Show is held twice a year in July and December and it continues to gain support.  Although there aren’t a lot of East Coast dealers in attendance, the nice facility, reasonable bourse tables, friendly show staff, and cheap show hotel rates will help this show continue to grow.  Ontario, CA airport is also a convenient option for those flying in because the show is just a mile away. 

One of the biggest show successes of the last year or two has been the PCGS Trade and Grade Show in Las Vegas.  The PCGS Trade and Grade Shows are held several times each year, the show itself is sold out as far as bourse space, and dealer reviews have been very positive.  Vegas itself has never been a great coin show town-the public is busy with Vegas-but this mostly dealer oriented venue draws most of the major players in the country and dealer to dealer business is brisk.  This month’s show should be very busy, and although we can’t attend, we will be at the next T&G. 

The St. Louis Show at the end of July is a big draw for numismatists because of the substantial amount of dealers that attend and the good Scotsman Coin Auction.  I have been attending coin shows in St. Louis since the mid-seventies and this show location in St. Charles, MO is in a very nice newer convention center connected to a very nice Embassy Suites Hotel.   St. Charles is a Western suburb of St. Louis convenient to the airport.  There are three larger shows in St. Louis each year and we are pleased to hear that the ‘February’ show will also be moved to the St. Charles Convention Center.  The St. Louis Airport Hilton where the February show is held is short of space and parking, and most dealers not only dislike the facility, but also the area is just not very secure. 

The ANA is fast approaching!  Chicago is a logical and mostly equitable choice for the ANA annual convention.  Although the Rosemont Convention Center is kind of ‘dumpy’ and many of the hotels are just ‘tired’ the close proximity to the airport, availability of flights, and most importantly central location are hard to disagree with.  Frankly, I think this is one of the best decisions the ANA has made over the last several years.  After the mismanagement debacles, lawsuits, and infighting of the last decade the ANA seems to be moving in the right direction. 

Larry Shepherd, the ANA director and a dealer himself for decades, is a good guy who knows what works for dealers.  Unfortunately he is just one man and he has to deal with the ‘board’ of governors who, for the most part, have never had to travel the bourse circuit.  Tom Hallenbeck, the ANA President, is a great guy too and between the two of them, I am cautiously optimistic about the direction the ANA is taking as far as convention planning.  Putting ANA conventions in major cities should help.  Unfortunately the Sacramento show in March was horrible.  The Fall Show in Pittsburgh will be interesting.

During our trip home we had a pleasant and bitter sweet experience when we stopped at a small BBQ restaurant called ‘Smokin Oak BBQ’ in the tiny town of Milano, TX about an hour’s drive South of Waco, TX.  We eat out a lot and I love trying new foods, especially BBQ and Sushi (yea, quite a difference).  We had stopped at this restaurant once before and really liked it.  I know BBQ and enjoy smoking meat myself almost as much as eating it-HA!  Rarely do I eat at a restaurant where I like the food more the second visit than the first, but….WOW!  This place is the bomb! 

The food was fabulous, but the story behind this cozy little BBQ joint is what really pulled our heart strings.  We were the only people in the restaurant and the owner, Tammy Storey, and I exchanged BBQ stories.  After a few minutes of getting acquainted, Tammy told us her story.  A couple of years ago her husband had just about finished renovating and decorating an old building where they were going to open their new restaurant when he was tragically killed.  Tammy and her husband have four small children.  Tammy’s husband was a big good looking Texan and she showed us a family photo.  You could see the love in her eyes as she told us about all the work he had done building the restaurant-it was his dream!

Tammy told us that she cried for six months after her husband was killed, but….she wasn’t going to give up.  Her kids needed her and she knew how to cook.  She opened the restaurant two years ago and is starting to find some success.  Milano is a small town, but Tammy’s BBQ brisket is the BEST I have ever had!  Once a big food channel personality finds ‘Smokin Oak BBQ’ she is going to be amazed at the success her little restaurant is going to achieve.  I couldn’t help but think, as we walked out the door into the incredibly hot Texas sun, that her husband was upstairs smiling down on Tammy.     

Each month I write the Rare Coin Road Warrior Column about coin shows held across the United States from a full time dealers’ perspective.  My wife Sherri and I travel 200 days a year to all major coin shows and many larger regional coin shows.  One of the things I have learned about coin show travel over the years is that you have to ‘stop and smell the roses’ along the way.  July is for vacations, or so I have been told, but coin dealers are coin dealers and they just have to do ‘some business’.  With the neat locations of some of the July shows you might consider combining a pleasure trip with a coin show trip.  With shows in Chicago, Colorado Springs, Clearwater and Orlando, FL, Los Angeles, Las Vegas, and St. Louis you have quite a few interesting choices.    

Bozarth Numismatics Inc. is a full service rare coin company.  Because of our extensive coin show travel schedule we are able to locate hundreds of fresh coins each month.  We list hundreds of new purchases each month on both our website bozarthcoins.com as well as our Ebay store, bozarthnumismaticsinc.  If you are looking for a particular item or want to put together a meaningful set of U.S. coins give us a call.  We would love to hear from you.  Thanks and Best Regards, Vic Bozarth.

June 2011

Greetings Rare Coin Enthusiasts, My name is Vic Bozarth and I am the Rare Coin Road Warrior.  My wife Sherri and I attend nearly 40 shows a year to buy fresh to the market coins for our customers.  We attend all major U.S. Coin Shows, as well as most large regional and state coin shows.  I am a ‘bourse floor’ dealer.  I have never worked in a coin shop and the ‘action’ on the coin show bourse floor is rarely boring.  During the last three weeks we have attended two of the biggest rare coin shows the country has to offer.  Both shows were busy, but let me try and fill you in on the news from the ‘floor’.

Both the Long Beach, CA and Baltimore, MD Shows are held three times a year.  And, of the three shows held in each location, the Summer Shows are generally the slowest with the lowest attendance.  At both shows there were some dealers on vacation.  Weddings, graduations, and vacations are usually the biggest culprits for lower attendance in June, but this year most were pleasantly surprised with the good business done at both shows.  In addition, both the Heritage Long Beach Auction and the Stacks/Bowers Baltimore Auction were heavily attended and bidding was brisk. 

Good shows are good shows more often than not and the improving coin market is helping.  Indeed, I have been writing for a couple of months about increased demand from dealers ‘stocking’ coins.  Most coin dealers stock merchandise, but the trend for quite a few years has been to just buy product that can be readily sold or coins that are always in demand.  Many dealers have gone from stocking a resale inventory to just bottom feeding on coins they can buy back of bid.  As the old saying goes, ‘the times they are a changing’. 

Dealers are actively looking for coins to STOCK.  Prices AT THESE LEVELS are very attractive to dealers.  In other words, dealers feel coins are poised for a big move.  Would you rather have cash or would you prefer a nice collection or group of rare U.S. coins.  Dealers are buying coins to both stock and/or hold.  Lots of dealers who have predominantly done bullion business for the last several years are buying nice coins because they have seen bullion levels quadruple (or more) and rare coins remain relatively unchanged in price.          

At Baltimore sales were good.  What we really noticed was the demand FROM OTHER DEALERS for coins at set-up.  Our usual brisk wholesale business was nearly double.  While the price levels are not moving demand is accelerating.  Collectors too were out in strength looking for particular coins, but we had three different collectors come back to find the coins they had looked at had already been sold-to other dealers!  We don’t ‘blow out’ new fresh inventory at bid-we can’t replace it.  Knowledgeable dealers were willing to pay a premium for NICE FRESH coins.

I worked the floor in Long Beach from set-up through Friday afternoon and the story was the same.  During set-up dealers were two deep at tables of dealers known to bring fresh inventory to the show.  At Baltimore also dealers were elbow to elbow vying for the best NEWPS-new purchases.  Most dealers we spoke to commented about the lack of nice coins available for sale at both shows. 

Last week (between Long Beach and Baltimore Shows) we attended the Sharonville, OH Show held each year by Paul Padget.  Paul runs a great regional show and this year was somewhat smaller but well attended.  Being bracketed between Long Beach and Baltimore didn’t help either.  In any case, we were able to buy some nice coins both before and during the show.  There are lots of coins in the Buckeye State. 

The Summer Show Schedule tends to build until the ANA World’s Fair of Money Show held this year in Chicago in August.  There are several great shows on the Summer Schedule including the Summer FUN Show in Orlando, shows in Chicago, Colorado Springs, CO, Clearwater, FL, Ontario, CA, St. Louis, MO, and Manchester, NH.  We will be attending the Colorado Springs, CO Show, the Summer FUN Show in Orlando, FL, the Ontario, CA Show, and the St. Louis, MO Show near the end of July. 

The Summer ANA Show is ten days of non-stop coin action.  We will be there for the duration in Chicago for the middle of August.  We will have tables at both the PNG/ANA Pre-Show and the main event ANA Show.  Both of these shows are being held at the Rosemont Convention Center near O’Hare Airport in Chicago.  This year the PNG/ANA Pre-Show is being held in the same facility as the ANA.  For the most part dealers are optimistic about Chicago.  Most feel Chicago is an equitable and viable location for the ANA annual show and this year’s show will be a big indicator of future success in Chicago.

We often take traveling to a show for granted.  We do it professionally.  If you have the luxury of having a good show in your area you should definitely attend-you’ll enjoy it.  If you plan on traveling to a larger show out of your area please make your arrangements in advance.  Most large shows sell out of the ‘show rate’ rooms at least a couple of months in advance.  We often book at least three months or more in advance for the larger shows. 

May 2011
Hi, My name is Vic Bozarth and I am the Rare Coin Road Warrior. I travel to 40 coin shows a year. I have never worked in a coin shop. I have always been a ‘show’ guy. I had my first table at a coin show at the age of fifteen with two other classmates. We called ourselves VDB Coins, which stood for Vic, David, and Bill. Something magic and somewhat extraordinary happened to me at that show. I fell ‘head over heals’ in love with the ‘bourse floor’. The hunt, the negotiation itself, the ‘players’ on the field-ugh I mean ‘bourse’. Seriously, coin shows are an addiction for me. I still get butterflies in my stomach the night before a big show. In fact, the feeling I get is almost like the feeling I used to get the night before a ‘big’ game back in school. At 50 years of age, I still get the biggest charge out of walking into a show! This year’s Central States Show was a real BARNBURNER. Wow!
Rising gold prices pushed action on the bourse at the Central States Numismatic Society Show in Chicago’s Rosemont Convention Center. Over the decades the Central States Show has been very pivotal in regards to what direction the market will take for the remainder of the year. In fact, one of the most infamous shows in the rare coin business was ‘Stinkin Lincoln’ Central States Show in Lincoln, Nebraska in April of 1980. The coin market, partially from the huge bullion market collapse, collapsed-BIGTIME!
At the 1989 Central States Show in Overland Park, KS ( a suburb of Kansas City) the coin market was RED HOT. The market was just weeks away from another collapse. Just four short weeks later, the crash occurred at the Long Beach Show.
This year’s Central States Show was highly anticipated. The bullion market is ‘finally’ spilling over into rare coins. Like the ‘frenzy’ in the coin markets of 1979 and 1989, buyers were driven. We haven’t seen this ‘buy it now or it will be more later’ mindset since early in the last decade, but this was different. The ‘frenzy’ has spread to dealers that are predominantly bullion dealers. The rare coin market is driven by confidence and belief that the market is going UP. The bottom line is that I haven’t seen this level of ‘dealer buying confidence’ at this level since early 1989. This rare coin market is MUCH different than the coin markets of 1979/80 and 1989.
Dealers have seen markets change quite rapidly and they don’t want to ‘miss the bus’. Bullion dealers especially need to put their profits in something-right? Bullion dealers are buying RARE coins because they know the rare coin market has largely been flat through the rising bullion market. What happened in 1979. Coin and Bullion dealers, who were profiting immensely in the metals markets bought rare coins. The thing is though, dealers are dealers and most often they immediately sell the better rare coins to another dealer who offers them a bigger profit than they can refuse.
The whole key to this frenzy is that the supply of really rare coins is finite. In 1979 dealers that bought really nice coins didn’t have them long. There just weren’t enough really nice coins to be bought. Average and low end coins went up in price because frankly there just weren’t enough nice coins available. You have to buy something-right?
O.K., I will get to the point. Coins are hot. Let me give you an example. Recently both Morgan and Peace Dollar common dates in PCGS and NGC holders have appreciated more than 100% in some grades. That’s right, generic dollars more than doubled in the last several months. Remember there are literally thousands upon thousands of generic PCGS and NGC dollars. Guess what, when some, albeit huge, orders hit the market dealers couldn’t buy enough MS65 Morgan dollars at $125, then $150, then $180, then $200, and finally at the Central States Show $214! From a recent low of around $115 Morgans rose nearly 90% in three months. These are GENERIC dollars. What does this mean?
Rare coins are poised for a tremendous push. Bigger dealers are quietly taking ‘positions’ in several different key areas. Coins with proven demand in investment grade are being bought and stockpiled. What is different now than in 1980 and 1989? The amount of money itself is staggering while the supply of coins is finite. There is so much more money coming into rare coins now the potential is really amazing. Nowhere is this ‘push’ this ‘frenzy’ more evident than on the BOURSE.
May is a not a big coin month. May is bracketed by the aforementioned CSNS Show and the Summer Long Beach Show. Other shows of note in May include good shows in Pittsburgh, Denver, Ft. Worth, and NJ. We started our May show travels with a NGC Trade and Grade in Sarasota, FL. NGC and PCGS grading services both host invitational shows several times a year. This month, NGC hosted a T&G at the Ritz Carlton Hotel. Although attendance was down somewhat, the business was great and this is a great venue for dealers to get coins graded and available for sale and trade with other dealers in a totally secure environment. This is not open to the public.
The Denver Show is held twice a year at the Great Western Exposition Center. Because of scheduling conflicts in the last several years this show as well as the TNA/Ft. Worth Show, the Garden State Show, and the PAN/Pittsburgh Show were all in conflict. It hurt them ALL. The scheduling this year was coordinated to a certain extent and the PAN/Pittsburgh Show, The Denver Show, and the TNA/Ft. Worth Show all found different weeks to hold their shows. Because of this and the stronger market all three were active and well attended shows.
Jerry Morgan, the Denver Show promoter, does a great job and this year his normal active bourse was very active with quite a few East Coast dealers in attendance that would normally attend the show closer to them. Although I was only in Denver to buy coins, I witnessed very strong sales and was able to buy a couple of very nice ‘fresh’ deals. During a conversation with Jerry, he let me know that his show next Spring will be the week before the ANA’s Spring Show scheduled for Denver also-kind of like a pre-ANA? The ANA had arbitrarily scheduled their new Spring Show the week before Jerry’s show originally. Jerry has moved his date. Touche Jerry!
The ANA continues to act like an 800 pound gorilla in scheduling their shows without much regard to local shows that have been held, in some cases, for decades.
This week, my wife Sherri and I attended the Texas Numismatic Association Show in Ft. Worth, Texas. This is a good show! The folks with TNA and most importantly Doug Davis, the show coordinator did a great job this year. The facilities at Will Rogers Exposition Center are really neat. This facility and the adjacent museums, galleries, and arboretum are all located in the Ft. Worth Cultural Neighborhood. The TNA Show has hosted their annual show here for quite a few years. There is plenty of parking, security is good, and the area has lots of other attractions. This show has always had a strong following. Dealers from all over the U.S. attend, but this year the bourse was bigger and more active.
The Long Beach Show at the beginning of June is growing again. This is the second of three Long Beach Shows held each year. Ron Gillio has promoted this show for over a decade and lots of dealers who were ‘more or less’ run out of California by spurious and absurd tax regulations are starting to come back. Ron lowered some bourse fees, added some less expensive tables in the back of the huge bourse hall and dealers have responded by coming back. The February Show was excellent. The June Long Beach has a really strong Heritage Rare Coin Auction and buyer and bidder activity will be brisk. Remember, this is the first major show being held since Central States.
The June Show schedule is going to be fun. In addition to the Long Beach Show, we are attending the Sharonville, OH show in a suburb of Cincinnati, the Whitman Baltimore Coin Expo., and the Colorado Springs Show at the end of the month. With both the Long Beach and Baltimore Show, June will be extremely active. In fact, I expect Long Beach to be very active because dealers are short on nice inventory. Unfortunately we will not be able to attend the new Chicago Summer Show which conflicts with the Colorado Springs Show. The Mid-America Coin Show held the last several years in June at the Rosemont Convention Center is no more. We hope to attend the ‘new’ Chicago show held in Tinley Park in the future.
Bozarth Numismatics Inc. is a full service rare coin dealer. We travel 200 days a year to buy ‘fresh’ rare coins for our customers. Our new purchases are listed on our website Bozarthcoins.com on a regular basis and we have list hundreds of PCGS and NGC coins in our Ebay store. We offer free want list services and are often able to locate coins others can’t find. You can contact us at bozarthnumismatics@sbcglobal.net or via our website or Ebay store. Thanks and Best Regards, Vic Bozarth.

April 2011

Dear Rare Coin Enthusiast,

In this month’s RCRW, I am going to discuss shows just concluded in March as well as upcoming shows in April and May. In addition, I am going to discuss some critical tax issues as well as an extremely interesting dealer survey recently taken by the forward thinking folks with the Florida United Numismatists (FUN) organization.

Spring is here and the rare coin show schedule is starting to slow down for the Summer vacation season. March was a busy month. Both the American Numismatic Association (ANA)-Midwinter Shows and the Whitman Baltimore Shows are behind us. The only two major shows for the next couple of months are the Central States Show in Chicago in late April and the Long Beach Show at the end of May.

Although the Sacramento Mid-Winter ANA Show was flat, the action picked up at the Whitman Baltimore Coin Expo last week. Dealer to dealer business was brisk during the dealer set-up hours Thursday morning. The show itself was very busy with brisk dealer to dealer trade and hundreds of collectors looking for coins for their collections. As usual, Baltimore did not disappoint and indeed the show itself continues to be the strongest commercial show in the U.S.

The proposed repeal of the sales tax exemption for coin and bullion related transactions in Maryland has been TABLED. The reports from the Baltimore Show itself were that HB 206 remained in the House Ways and Means Committee at the end of the show and the legislative session is scheduled to end April 11^th. Whitman publishing which sponsors the show was probably most responsible for the bill being stalled in committee. Indeed, we heard that Whitman had threatened to move the show out of Maryland. This is very good news for the rare coin business and the Baltimore Show itself.

The Stacks/Bowers Auction was very well attended and indeed finding a spot at lot viewing meant waiting in line before and during the show. Stacks/Bowers Auctions should learn from Heritage Auctions and have a large conference room for lot viewing to allow for more room for more customers to view lots. Evidently computer problems caused the first session of the auction to last until after one a.m. in the morning also. The auction itself featured some outstanding rarities and the prices realized were very strong. Stacks and Bowers are holding the ANA auction in Chicago this summer and that event promises some really incredible consignments.

Also in March we attended a good show in Boston. The Bay State Show is well run and well attended. There are a large variety of mostly regional dealers, although, many dealers attended from other areas of the country. We heard good reports also from the new C.A.M.P. Show in Monroeville, PA.

The April Show schedule includes some good regional shows as well as a great Midwestern Show. The Central States Numismatic Society (CSNS) Show is really a great show. Central States Numismatic Society encompasses eleven Midwestern States. Only the FUN and ANA Shows are bigger than the CSNS Show, although the Fall Baltimore Show is arguably right up there. This year the CSNS Show is being held in the Rosemont Convention Center just a couple of miles from Chicago’s O’Hare Airport.

Although I am not a big fan of Rosemont, no one can argue about the overall convenience and availability of both lodging and dining choices. Yes, prices are too high, parking is OUTRAGEOUS and the hotel rates aren’t anything special either, but the show itself is worth it. Like the aforementioned FUN and ANA Shows, many smaller dealers and especially shop owners who only attend a couple of shows a year, attend CSNS. This show has as good a mix of both Midwestern dealers and national dealers as any show on the rare coin circuit. CSNS is a must attend event for dealers and serious numismatists and the CSNS auction is being held by Heritage Auctions.

The Santa Clara Show just an hour South of San Francisco is a great Western Show. Although Santa Clara isn’t as well attended as it once was, the show is growing again. Dealer attendance is up and the move to a Thursday opening has encouraged more dealers to stay until at least Saturday morning. The Bay Area is a natural for good shows with the proximity to both the San Francisco mint and the incredible gold strikes of the 19^th century. Coins come out of the ‘woodwork’ there. Try it you’ll like it!

May is a strange month for coin shows. Admittedly, people are busy with their lives. Kids are either starting their summer vacations or graduating. Although Whitman tried a show in May in both Atlanta and last year in Nashville, the attendance and dealer reviews were mediocre at best. There are quite a few good regional shows, but for the last several years three different shows couldn’t get their respective acts together and schedule their shows on different weekends.

Thankfully, the Pennsylvania Association of Numismatists, the Denver Show, and the Texas Numismatic Association Shows are on different weekends this year. Unfortunately the Garden State Numismatic Association Show conflicts with Denver, but quite frankly where were they to go? The Pennsylvania Association of Numismatists Show is on the first weekend of the month. The Denver and GSNA Shows are on the second weekend of the month and the TNA show is on the third weekend of the month. Last year all four of these shows were on the same weekend. Whether this great rescheduling was a result of planning or coincidence, the result should be a boon for both dealers and collectors.

The only major show in the month of May is the legendary Long Beach Show held the week of Memorial Day. Long Beach has always been a great show, but a combination of CA tax laws, high table prices, and lack of promotion hurt the show for several years.

Let me say without any equivocation. LONG BEACH is BACK! Not only was the February show well attended, but the ‘buzz’ was back in the room. The room was full of tabled dealers and many dealers who had just ‘walked the floor’ for the last few years have taken tables once again. This is a natural coin venue and personally I have attended nearly 80 straight Long Beach Shows. Long Beach is held three times a year-I am not Methuselah. For anyone in the Southern CA area, this is a must attend show. The area around the convention center in Long Beach has really improved also. There are dozens of restaurants and very nice hotels along with the Long Beach Aquarium and the stately Queen Mary.

Although I have made some negative comments about some shows in past articles, virtually all the clubs, numismatic organizations, and individuals or companies that put on coin shows across the United States do a great job. The logistics of putting on a large show are very complicated and there is always a battle between what collectors want and dealers are willing to DEAL with.

Recently Cindy Wibker with the Florida United Numismatists sent out a dealer survey to all the dealers who had tables at their show in Tampa in January. Not only was the survey well thought out, but a third of the dealers surveyed actually took the time to fill out the survey and return it. I am no statistician, but I think those numbers are very good. Dealers care about the how, what, where, and how much that go into a show. We have to be concerned, after all, because those factors affect our business.

The survey results were quite interesting. In fact, I found I wasn’t such a ‘lone wolf’ after all. Let me give you a few examples of how dealers responded to the questions the survey asked. Personally, I really liked the Tampa location. Interestingly enough most dealers agreed. Not only did they like Tampa, but a large percentage polled responded that they would like to see the January FUN Show in Tampa at least every other year. Indeed, the survey concluded that there was ‘overall tremendous support to return to Tampa’.

The survey also questioned dealers about ‘Early bird’ dealers and mandatory Sunday show attendance. In regard to the Earlybird dealer program the survey found: “There was total, overwhelming support to keep the early bird program at FUN shows. Many dealers wrote comments that “they depend on early bird business to make a show very successful for them”. Recently I wrote some negative comments about the ANA elimination of the Early bird dealer program at their shows. Are you listening ANA?

In addition, the survey polled dealers about mandatory Sunday attendance and the results showed: “The vast majority of dealers do not want to attend the FUN show on Sundays, or at least do not want to be forced to attend.” The ANA has dealt with this in a pretty equitable manner by eliminating Sundays for their shows, although I absolutely disagree with imposing a “FINE” to dealers who leave early under any circumstances. The FUN organization now has the dealer opinions to act accordingly.

When it comes right down to it, dealers would set-up in the middle of the night in a parking garage if they thought they could make money! Sunday attendance at longer shows HAS NEVER been an economically feasible option for dealers-PERIOD. Frankly, the expenses are the same, the time spent is the same, but the sales are virtually ZERO. The ANA has gotten this right.

The differences between the two organizations, as I see it, are as follows: FUN is dealer friendly and the ANA IS NOT. FUN listens to dealers, yet the ANA continues to ignore dealers on several critical issues to the detriment of their shows. Yes, membership opinion counts, but the problem is the ANA members are not ‘paying the freight’, while the dealers are!

MARCH 2011

My name is Vic Bozarth and I am the Rare Coin Road Warrior. My wife Sherri and I attend forty coin shows a year to buy scarce and interesting coins for our customers. I have always been a coin show guy and have never worked in a coin shop. I love coin shows and I would urge any and all to attend a show near you. The opinions and observations expressed in this article are my own. You are free to disagree or agree-HA!

The ANA Mid-Winter Show just concluded last night at the Sacramento, CA convention center. Unfortunately it wasn’t a great show. In fact, it was kind of a dud. The ANA had the usual displays and programs, but the dealers just weren’t there. Oh yes, most of the major companies were represented, but there were empty ‘no show’ tables and indeed the room was smaller than many mid-winter ANA’s we have attended in the last several years. The 1999 mid-winter ANA which was held in the same location in Sacramento was a great show. The public attended, but they kept their wallets in their pockets. What was different?

The ANA has said it will not schedule shows in California any longer. The shows scheduled by the ANA before the current administration took control are still dragging both the ANA and the industry as a whole down. When a state, like California, makes doing business in their state TOO HARD there MIGHT BE A PROBLEM. Regardless of your politics, the taxation issues are going to take a toll on your bottom line. Fortunately, the ANA won’t be having shows in the former great state of California anytime soon.

As usual with ANA events there was a scheduling problem and instead of the one p.m. set-up for dealers Wednesday afternoon, the show didn’t set-up until three p.m. A couple of years ago the ANA, in it’s infinite wisdom did away with Earlybird dealer badges. An Earlybird badge is a dealer’s badge that allows that dealer, who doesn’t have a table, to get into the show during set-up hours for a fee. The fees collected over the years have theoretically offset some of the table holder dealer table fee increases. Set-up was FLAT. Some blame can certainly be placed on the economy. After all, Sacramento has been hit harder than many.

Let’s take a look at attending an ANA Show from a smaller dealer’s perspective. Dealer Bob attends thirty shows a year. Most of the shows ‘Bob’ attends are smaller regional shows, but he also attends nearly half the major shows if, in his words, ‘it makes sense’. Like dealer ‘Bob’ stated, ‘How can I go to an ANA when my airfare, table, lodging, and food will cost me over $2000 before I sell a coin?” How indeed?

With an ‘Earlybird’ badge the dealer, like dealer ‘Bob’ still feels like he is part of the action, but cuts his overall expenses by nearly half. The tabled dealers get to buy or sell coins to this ‘Earlybird’ dealer. The Earlybird dealer buys coins and sells coins to tabled dealers. Guess what ANA, the Earlybird dealers help make a show and your shows are becoming marginalized because you can’t see the forest for the trees.

Quite a few years ago I considered becoming an ANA life member. Frankly, I won’t give them anymore money. I feel, as many dealers do, that we are already giving more than our share in table fees for shows that are extremely expensive to attend and poorly scheduled or timed. The ANA has always had the philosophy that they can put the expense on the dealers and we will have to ‘pony up’ regardless. Sometime in the next year or two (I don’t keep track) I will probably be eligible to receive a 25 year ANA pin. In fact, I was a member as early as 1978 while still in high school, but missed a few years while in college. Am I excited? Whoopee! I think I would rather sleep. In my years of ANA show attendance, I have attended no banquets, award ceremonies, or presentations. Do you know why? I am at the ANA show to work. Don’t get me wrong-I love my work.

In years’ past, I have worked for other companies and have had the responsibility for being at the show from the opening bell through the bitter end of the day. Frankly, attending a banquet or ceremony after ten or eleven hours of work doesn’t do much for me. I’m sure this year’s dinner at the Sugar Mill Restaurant was a nice event, but I had absolutely no interest in attending. I am also certain that the riverboat cruise was nice too, but guess what ‘I was working’. Of course, what the ANA doesn’t tell you is that if you aren’t ‘manning’ your table they will levy fines against your company. Hey ANA, get a clue!

Now let me talk about a real coin show. The Whitman Baltimore Show at the end of March promises to be a barn burner! The Whitman staff won’t be running around trying to see if we have purchased our tickets to the Sugar Mill dinner. No, they will be making sure we have everything we need to do business. If we have to leave early or want to take an hour away from the show for lunch we can do so without being FINED. Whitman is running a show for everyone including dealers, because, maybe you guessed it, we have already paid for our table and there aren’t any penalties or politics.

What is the big difference between the ANA shows and a show like Baltimore? The difference is the number and diversity of dealers period! If the dealers don’t attend and they don’t bring their coins, you don’t have a show. Baltimore continues to pack them (dealers) in and consequently the public are lined up out front to get in every morning. There are big dealers, small dealers, and in between dealers. There are weekend warriors and smaller dealers that come in for Saturday and Sunday and take tables already vacated by bigger dealers who have all the time on the road they can stand. The difference in why dealers WANT to attend the Baltimore Show and feel like they HAVE to attend the ANA Shows is a matter of attraction.

Dealers want to attend the Baltimore Show and many of us (dealers) dread the ANA Shows. If you want to add a person to your table at Baltimore you are going to pay for it, but you can do it at the show. If you want to add a person to your table for an ANA Show, not only will you pay for it, but you better do it two months in advance, and have a note from your MOMMY.

Many commented on the lack of business at the ANA this year. Maybe the ANA should ask itself this question. Are you running the largest traveling coin museum with the largest staff or are you running a coin show? The museum is in Colorado Springs.

The show schedule for March also includes shows in the Pittsburgh area and Boston, MA. John and Kathy Sarosi are having a show this next week in Monroeville, PA open to the public Friday through Sunday. Ed Aleo is having his semi-annual Spring Bay State Coin Show at the Radisson Park Plaza Hotel near Copley Square in downtown Boston. We will be attending the Bay State Show and really look forward to seeing old friends.

There are several shows in April, but the two big shows for the month are the Whitman Baltimore Show at the very beginning of the month and the Central States Numismatic Society Show at the end of the month. In between there are several shows of note including the Santa Clara Show in California in the middle of the month. The first full week of April there are five shows spread across the U.S. including Michigan State, South Shore/Milwaukee, PNNA in Tukwila, WA, Dulles Coin & Currency Show, and the Central Florida Club Show in Orlando, FL.

Needless to say, five shows in one week dilutes the amount of good material that could possibly be at anyone of the five shows. We won’t be attending any of the five, but will attend Santa Clara the following week. Kind of a funny observation, but there aren’t any shows of any size Easter week before the CSNS Show. Seems to me somebody from one of the FIVE shows on the same weekend might have realized this and scheduled their shows accordingly.

The CSNS Show in Rosemont, IL is a great show. The Central States Numismatic Society is somewhat like the ANA with politics and back stabbing galore, but they do run a decent show and more often than not dealers attend in droves. Having shows in Michigan, Chicago (the International), and Milwaukee just a couple of weeks before CSNS doesn’t help, but the larger venues like CSNS and the ANA can’t worry about the smaller shows? Right?

February 2011

Dear Rare Coin Enthusiast,

In this month’s Rare Coin Road Warrior I will briefly discuss the strong bullion market and how it will affect the rare coin market. In addition, I will try and give you some insight into what is happening on the ‘Bourse’ floor at the major rare coin shows across the United States. First let me make a correction in last month’s Rare Coin Road Warrior.

Last month I mistakenly listed the PAN/Monroeville, PA Show, held twice a year in a suburb of Pittsburgh, as being held in a suburb of Philadelphia. I apologize to John and Kathy Sarosi who did a great job hosting this show for years. The PAN Show is held twice a year. John and Kathy Sarosi are holding a new Spring show in Monroeville, PA March 24-27 called the C.A.M.P. Show in the same location as the PAN Show. Let me explain my mistake. For several years I did a Sunday only show in Montgomeryville, PA (a suburb of Philadelphia). Montgomeryville vs. Monroeville. I am pretty sure the show that was held in Montgomeryville has since moved to Fort Washington, PA and is put on each month by Allen Brock. All three of these shows are worth attending.

Now let’s get to the coin show news.

Gold is nearing an all time high price with the spot price at $1411 at this time. Silver continues to climb and has reached a thirty year high of over $33 an ounce. Are you surprised? I’m not. I am not a bullion or metals dealer, but the signs have been there for several years. Although the stock market has been performing well recently most other traditional investment mediums have been ‘in the dumper’. Real Estate and C.D.’s, two typically sound investment mediums, are terrible. If you want to have your nest egg eroded by inflation put it in a C.D. Real Estate looks good at these levels, but beware boys and girls because the foreclosures are still occurring in record numbers. The low interest rates we see advertised are mostly ‘smoke and mirrors’ because even those with excellent credit are being denied financing or refinancing.

Can you avoid the news? The Middle East and North Africa are boiling caldrons nearing explosion. Personally, I hope we see some new leadership in some of these countries. BUT, and here is the rub, can the U.S. avoid getting entangled in this mess. I think not. Unfortunately we are already involved. What does that mean for us? Gold prices are back up recently because of this unrest. The U.S. dollar, once the blue chip of world currencies, is worth no more than the paper it is printed on. Gold prices will continue to rise and fall, but I believe they will mostly rise.

I like gold. I don’t like it enough to put all my investment dollars in gold, but I have a substantial position both personally and in our rare coin inventory. I have continued to write about the disparity between the premiums classic U.S. Gold type coins once carried vs. the little to no premium they carry in this market. Recently huge hoards of classic U.S. gold coins have been liquidated in Europe. These supplies will be absorbed. First we saw the premiums evaporate for double eagles-U.S. twenty dollar face value gold coins minted before 1933. Lately the premiums for U.S. eagle ($10 face value) and half eagle ($5 face value) gold coins have evaporated also. With gold at $1411 the bullion value for $5, $10, and $20 classic U.S. gold coins are $341, 683, and $1365 respectively. Once these European hoards are absorbed in the market the premiums will rise again. The cream always rises to the top.

Don’t buy junk. Yes, it has gold value. Yes, the premiums are very small. Spend a little more money and buy MS63 and better classic U.S. gold type coins in denominations of $5, $10, and $20. I also like $1, $2.5, and especially $3 U.S. gold coins too, but the premiums on these lower denomination coins have remained pretty strong. Currently you can buy classic MS63 $20 gold coins in the Liberty or Saint Gaudens design for under $2000 and $1650 respectively. They melt for roughly $1365. Spend a little more for better date material and you will profit later. This is a NO BRAINER.

For several months now I have been recommending better date and type gold coins and now it is time for me to get off the ‘soapbox’. As the old saying goes, ‘you can lead a horse to water, but you can’t make it drink’.

The rare coin show schedule in February started with a really good Long Beach Coin Show. The bourse floor at the Long Beach Convention Center was nearly full. This is a huge room and several islands of new tables were occupied by lots of returning dealers as well as some new faces. Activity at the show was unusually strong also. Most dealers are complaining that ‘fresh’ material is just NOT coming into their stores or at the shows they are attending. What that means is that people (including dealers) are only selling those coins they either HAVE to sell or culling out their less desirable coins for current sale. Evidently not only dealers believe prices are going to go up. Indeed, the non-dealer public are holding their best coins because they believe prices are going to RISE.

Sales at Long Beach were strong and that trend continued through both the NGC Trade and Grade in Sarasota, FL and St. Louis coin shows week before last. Both NGC and PCGS hold several ‘Trade and Grade’ shows each year. For the last couple of years NGC has held these shows in Sarasota, FL while PCGS have their ‘Trade and Grade’ Shows in Las Vegas. We attended the NGC T&G and were pleasantly surprised with our overall sales. Although we didn’t attend the PCGS T&G reports from other dealers said sales were strong, but many dealers went home without their ‘walkthrough’ grading because PCGS got too many coins and had to take coins back to CA to grade them.

We also attended the Great American Coin Fair which most dealers know of as the St. Louis February Show. This show is held at the airport Hilton across from, you guessed it, the airport. The hotel itself has been renovated recently and is very nice, but the show itself is just TOO crowded. The bourse floor is WAY too small, the tables are very crowded, and walking the floor is difficult. Mike Orlando has done a great job running this show for years and the show itself always sells out to dealers, but the room is just too SMALL. Business at St. Louis was good. The lack of good ‘fresh’ material was very evident because dealers were falling all over themselves trying to buy and sell during the Thursday afternoon and evening set-up.

The upcoming show schedule includes two great shows in March, as well as several good smaller regional shows. The ANA Mid-Winter Show in Sacramento promises to be a great show, but the Baltimore Show at the end of the month will be excellent. The ANA continues to put shows in California although it is one of the most dealer UNFRIENDLY states in the country. The ‘nexus’ situation in CA basically wants to tax dealers who do more than twelve days of business at CA shows as CA businesses in addition to the taxes the company pays in their own state-kind of like double jeopardy. The ANA did schedule this show several years ago, BUT this is a real problem. I know of quite a few major dealers WHO WILL NOT ATTEND because the show is being held in CA. To their credit, the ANA is aware of this problem and they are trying to schedule future shows accordingly.

The Baltimore Show faces a similar problem. Recently the state of Maryland has plans for eliminating the bullion and coin sales tax exemption for transactions over $1000. As with many states, the shortsightedness of their respective legislatures knows no bounds. This is a real threat to the Baltimore Show and I would urge any and all concerned to write letters of protest. We have written letters ourselves and the Industry Council for Tangible Assets as well as the Professional Numismatists Guild both have ‘template’ letters and addresses for you to use to fight this legislation.

Baltimore has grown into the best commercial coin show in the United States. Yes, the F.U.N. Show is bigger, but the business in Baltimore is fantastic. There is a great Stacks/Bowers coin auction and the public attendance is huge. The problem with the sales tax issue is twofold. First, margins on bullion and rare coin transactions are often small percentage of two to five percent. Add the sales tax and the only people selling these items profitably will be the ones cheating the state out of the sales tax. Second, moving the show to another ‘more business friendly’ state would disrupt the show and indeed hurt public attendance severely.

In addition to the two larger shows in March there are several other noteworthy shows in different areas of the county. This week there is a show in Sarasota, FL. The Chicago Paper Money Expo is being held the 10^th through the 13^th the week prior to the ANA-Midwinter. If you are in the Minneapolis area there is a good smaller show in Brooklyn Center the 18^th through the 20^th. There are two good shows the week after the ANA Midwinter show in Sacramento which is being held the 17^th through the 19^th. Both the C.A.M.P. Show in Monroeville, PA (a suburb of Pittsburgh) and the Bay State Coin Show held at the Boston Radisson Hotel are scheduled for the 24 through the 27^th. The C.A.M.P. Show is new, but the promoters, John and Kathy Sarosi, did a great job with the PAN Show held at the same location for years. Ed Aleo has been putting on the Bay State Show for most of four decades and there are always lots of neat coins and serious dealers in attendance.

The March Show schedule closes with the Whitman Baltimore coin show held the 31^st through April 3. This is a must attend show for dealers. The April Show schedule includes shows in Chantilly, VA and Orlando, FL held the 8^th through the 10^th. The following week there are the shows in Chicago and Santa Clara, CA both being held the 14^th through the 17^th. There are no big shows scheduled for Easter week, but one of the best major shows of the year closes the month with the Central States Numismatic Society Show held in Chicago April 27^th through the 30^th at the Rosemont Convention Center.

The professional associations and friends I have made in the coin business are wonderful. There is a comraderie among fellow numismatists that transcends age and social background. If you have the opportunity, attend a show and join the fun. Listed below are the shows we will be attending in both March and April.

March Schedule:

ANA Midwinter March 17-19^th

Bay State March 24-27^th

Baltimore March 31^st –April 3^rd

April Schedule:

Santa Clara, CA April 14-17^th

CSNS/Chicago April 27-30^th

Bozarth Numismatics travels thousands of miles each year in search of high quality U.S. Coins.

January 2011

In this month’s RCRW I am going to talk a little about the rare coin market before previewing the rare coin show schedule for the next two months.

The rare coin show schedule follows a pretty predictable timetable each year. Many dealers and avid collectors schedule their lives around the coin shows they attend. For example, dealers and collectors alike know the Florida United Numismatists Show starts the show schedule each year. For decades now, the F.U.N. organization has held their annual show the week following New Year’s Day. The Florida United Numismatists Show is the largest coin show in the United States. This year the F.U.N. show was held in the Tampa Convention Center instead of the Orlando Convention Center with the Ringling Brothers and Barnum & Bailey Circus performing next door. The answer is yes, we did revert back to our childhood and attended the circus one evening!

Because the F.U.N. Show is the first show of each year, many dealers and collectors are very conservative with their purchases. They want to see what direction the market is headed. In addition to the tentativeness I witnessed at the F.U.N. show among both dealers and collectors, the overall economy has certainly affected overall sales. Discretionary income is down. A well known dealer commented that ‘people aren’t buying coins when they are worried about their mortgage’. Although the bullion business has been very active and some selected rarities have brought record prices, the overall coin market is soft. Ironically, most dealers would have thought record gold and silver prices would have resulted in record coin prices.

How can I take advantage of this rare coin market?

Don’t bury your head in the sand. Shop frugally, use your numismatic knowledge, and focus on value. These are sound principles for buying rare coins. What most of us overlook is what we can do for our collection or portfolio besides buying more coins. Manage your collection/portfolio wisely. The current coin market is fertile ground for the astute buyer. Obviously we all want the most value for our dollar as we can get. Of course buying in a ‘soft’ market is very beneficial, but there are other ways to manage your collection or portfolio for future benefit. One note of importance: DO NOT BUY UGLY COINS BECAUSE THEY ARE CHEAP. Ugly coins do not sell.

Two of the biggest ways you can reap future benefits from your collection or portfolio are to take profit in some coins and sell the ‘dogs’. Whether you are buying coins strictly as a collector or an investor, taking a profit on coins or bullion items frees up money for coins you really want or coins that have more future investment potential. Both gold and silver bullion have risen considerably over the last couple of years. Many coins have dropped in price. You get the picture – reposition your assets. Selling the ‘dogs’ is very important also. Yes, you are probably going to take a loss. BUT, the nicer coins you purchase with the proceeds of your ‘dog’ sales will certainly exceed the performance of the ‘dogs’. The bottom line to this recommendation is to cull out the ‘dogs’ and reposition your collection or portfolio for better future performance.

The February and March rare coin show schedule includes several big shows as well as a couple of really good regional shows. The first Long Beach Show of the year starts this Wednesday (to dealers) the second of February. The Long Beach Show seems to be growing again. More favorable table prices and better advertising should help this great show recover some of the luster it has lost over the last several years. The smaller dealers are taking tables again and some new dealers are attending. The Heritage Auction is a huge draw also. For those who haven’t attended, this is a really pleasant venue for a show. Long Beach is a neat town, the weather is terrific, and there are lots of lodging and dining choices.

The week after the Long Beach Show there is a smaller show in Charlotte, NC held by the Charlotte Coin Club. The third full week of February we are attending a Numismatic Guarantee Corporation Dealer Invitational in Sarasota, Florida. This is a dealer’s only show where on-site grading is offered and dealers are able to trade coins in a super secure venue. Both NGC and PCGS hold these shows periodically and they are quite popular among many dealers. PCGS is also holding their ‘Trade and Grade’ in February in Las Vegas. The St. Louis Show in mid February is a really solid regional show. Mike Orlando has run this show for quite a few years and he always has a waiting list for tables. The Airport Hilton where the show is held has been renovated and there is a Scotsman Auction held during the Show. Because of the airport location, transportation options are plentiful as are lodging choices. I have personally attended this show since the seventies and wouldn’t miss it. Other shows in February include shows in Virginia Beach, VA and the Collectorama Show in Lakeland, FL.

March is a good show month. Not only is there a really hot Baltimore Show, but the ANA Mid-Winter Show visits a new city each year. We love Baltimore. The city is a lovely and friendly place to visit and the show is dynamite. For several years the three Whitman Baltimore Shows have been the premier East Coast Shows. Although the Summer Baltimore Show is somewhat smaller, both the Spring and Fall Shows are huge. Lots of dealers of all shapes and sizes attend-HA! Because of the convenient location, Baltimore draws smaller dealers from all of the middle atlantic coast and northeast dealers. These are the smaller dealers whereby ‘half the population’ of the U.S. Coins come out of the woodwork in Baltimore. Virtually all major dealers attend also. The new Stack/Bowers and Merena Auction Company will hold their first auction in Baltimore this March.

The American Numismatic Association Mid-Winter Show is being held in Sacramento, CA this year. The last ANA Mid-Winter Show held in Sacramento in 1999 was dynamite. Lots of neat coins ‘walked’ into that show. The location, just hours from some of the richest gold strikes in history and the shows proximity to the San Francisco mint are factors that promise a great show. Because of the higher gold prices, I would expect some rare gold coins to ‘walk’ in!

Other shows in March include Sarasota, FL and Chattanooga, TN Shows held the first week of the month. There is a good smaller show in Brooklyn Center, MN (a suburb of Minneapolis) held the same week as the ANA Mid-Winter Show. The Bay State Show in Boston is the week between the ANA and the Baltimore Shows. Ed Aleo, the show coordinator, has run this show for several decades at the Renaissance Park Plaza Hotel. There is also a newer show in Monroeville, PA (near Philadelphia) the same week as the Bay State Show. Although I haven’t attended the Monroeville Show, I have attended the P.A.N. Shows held in the Pittsburgh area twice a year. These shows are run by John Sarosi who does a nice job keeping both dealers and the public happy.

This morning I am completing this article from Long Beach, CA. While most of the country is blanketed in snow, Long Beach is 65 degrees, sunny, and really pleasant. I have been ‘addicted’ to the rare coin show circuit for years. Some of my most pleasant show memories are of the Long Beach Show and the friends and professional associations I have made here. I would encourage any rare coin enthusiast to attend a coin show in your area. If you have the wherewithal try and schedule a trip to a BIG show like Long Beach (held three times a year), Baltimore (held three times a year), or even the ANA events which are now also being held three times a year. Not only will you get to see some really incredible coins, but you will have the opportunity to meet some of the most interesting people in the rare coin business.

Bozarth Numismatics specializes in high grade PCGS and NGC graded coins. We also offer a large assortment of CAC approved PCGS and NGC coins. We offer free, no obligation want list services

November 2010

What’s happening on the rare coin show circuit?

The Whitman Baltimore Coin Exposition was really ‘cooking’! In my opinion the Baltimore Coin Expo is the hottest show on the rare coin show circuit. The folks at Whitman know how to run a show. The Fall show is the best of the three shows that Whitman Publishing holds in Baltimore each year. Attendance is always heavy and the Bowers and Merena Auction is a big draw. Business was brisk and gold was the major culprit. I will talk more about the Baltimore Coin Exposition, but first let me tell you why I write the Rare Coin Road Warrior Column each month.

My name is Vic Bozarth and I am the Rare Coin Road Warrior. I have attended coin shows since the age of 13 and set up as a dealer at my first show at the age of fifteen. Of course, I love coins, but shows are where the action is! Because many of you don’t have the luxury of attending many coin shows, I like to share with you the news and market trends I have witnessed while attending and working the ‘bourse’.

The October Show schedule was grueling. Although the only major show was the Silver Dollar Show in St. Louis we actually attended four shows in total flying coast to coast twice. After the stellar Philadelphia Whitman Coin Expo in late September/early October we flew to Manchester, NH for the NH Coin Show. Although bracketed by the bigger Philly Show and St. Louis Silver Dollar Show, the NH Show was both well attended and well run. Ernie Botte does an excellent job with this show. The show itself is growing and we are among many who really enjoy visiting the Northeast during the Fall.

The Silver Dollar Show in St. Charles, MO, a suburb of St. Louis, is well run in an excellent facility, but there are several problems with the show. Maybe it is the economy, maybe it is the city, but the show just isn’t what it once was in years past. The Silver Dollar Show also faces some major hurdles next year. The new Pittsburgh ANA Fall Show is scheduled the week prior to the Silver Dollar Show next October. The ANA is like the 800 pound gorilla in the room-they stomp around with no regard for anyone else.

The problem with the ANA Fall Show and the St. Louis Show comes down to proximity of dates. Like the Whitman Philadelphia Show and the Long Beach September Show this year, the grading services will with all likelihood opt out of one of the other shows. The ANA, the 800 pound gorilla, will probably win the grading war. The ANA Fall Show is the week prior to the St. Louis Show. In my opinion it is doubtful that both grading services will grade at both shows. Logistically the grading services can move their equipment from Pittsburgh to St. Louis, but will dealers and collectors have material to submit for grading at St. Louis? Will the auction at the new ANA show overshadow the Scotsman Auction held in conjunction with the Silver Dollar Show? We will attend both shows, but on a personal note, I grew up in Missouri and my family still live there. I have attended shows in St. Louis since 1976 when the Central States Numismatic Society held a show there. I will continue to support and attend the show, but the ‘draw’ just isn’t there as it has been in the past.

This year we tried something new and attended the Willamette Club Show in Portland, OR instead of the PAN Show in Pittsburgh, PA. Why? you ask. Both of these shows are good shows, but some scheduling issues led us to try this show for the first time. I was pleasantly surprised with both the large number of dealers and the attendance of the show itself, but there were some problems with the set-up and the host hotel was completely sold out early. We will try this show again in the future. The show coordinator Scott Loos and his wife really work hard making this show work. We enjoyed meeting them both.

The Coinfest Show held in Stamford, CT is one of the best retail coin shows in the country but……the show itself probably won’t exist next year. The news from the show was really odd. The Coinfest advertising campaign has been one of the most effective show promotions I have ever seen. Stamford, CT is convenient to New York City, the upper Northeast and Mid-Atlantic states. The hosts for the show tried to make people comfortable and the security was top notch. MOST IMPORTANTLY there are customers there who want to buy coins!

So what is the problem? The show has been moved twice. The facility used in years two and three was bigger and in my opinion nicer. The new facility in a Marriott in downtown Stamford was just too small. Because of the new facility many smaller dealers who attended in the first three years weren’t even sent contracts for the show? Table prices were also increased. Unfortunately this is one of the best shows in the country that is probably doomed. I fervently hope this show can survive, because the concept is sound, the advertising is good, and most importantly the customers are there.

One of the problems with the Coinfest Show is scheduling itself. So many people want to have their shows during the Autumn months. The Baltimore Show is the ‘King of the Hill’, so to speak. The Baltimore Show is both very well attended and well run. When Whitman bought the show a couple of years ago, there were some doubts that the show would continue to flourish. Not only has the show continued to flourish, but table space is very much in demand and there is often a waiting list for at least the Autumn Baltimore Show.

The Baltimore Show features a Bowers and Merena Auction. The location is fun and convenient with lots of lodging and dining choices. One tip: book your hotel room early, because we have heard rumors room availability will be limited in the Spring due to competing conventions. There are hundreds of dealers including virtually all the big dealers in the country. Whitman does an excellent job of advertising the show also.

The Boston Bay State Show followed the Baltimore Show during the second full weekend of November. Ed Aleo runs a good show and you should try and attend. We didn’t attend this year’s Autumn show due to a scheduling conflict, but we always enjoy Boston. There are lots of good coins that come out of the ‘woodwork’ in the Northeast.

The Santa Clara Coin Show is currently the second biggest show in November. Santa Clara has been shrinking. The attendance has really fallen in recent years. Dealers have cancelled their table contracts and many leave early. What is the problem? The overall economy has hurt this show. The Silicon Valley has felt the recession and that has spilled over into both slow sales and attendance. The loss of the Superior Coin Auction didn’t help either. Ron Gillio, the show sponsor, is trying to entice new dealers into the ‘bourse’. He changed the show schedule roughly a year ago to set-up on Thursday versus Wednesday to encourage dealers to stay longer. He has also lowered some table prices. This year’s show was better than any we have attended in the last couple of years. There are still some ‘holes’ in the bourse floor, but the Bay area is one of the venues for a coin show in the country and we did notice some improvement in attendance.

There are two larger state shows on Thanksgiving weekend. The first is the very well attended Michigan State Show in Dearborn at what was once the Hyatt Hotel. Evidently the hotel ownership is changing, but the show location should remain in the same location. I have had good shows in Dearborn, but I decided several years ago that I won’t set up at a show on Thanksgiving weekend-family is just too important. You will enjoy the Michigan State/Dearborn show if you attend.

Fortunately we have an alternative for Thanksgiving weekend. There is a good show in Pasadena, TX held Friday through Sunday. Although this is smaller than Dearborn and it is not listed in Numismatic News Coin Show Calendar, there are lots of dealers who attend, parking is plentiful, and the location is conveniently located in a suburb of Houston. Although I drive in for the show on Friday, I don’t set-up. The only shortcoming for this show is that it is currently held the week before the Houston Money Show.

The Houston Money Show is growing. Of course, everything is bigger in Texas-right! Yes, I have some regional bias. We live in the Houston area. Karl Schwenker has done an extraordinary job in both promoting this show and scheduling a Heritage Auction and a PNG-Professional Numismatists Day prior to normal dealer set-up. We had an excellent Houston Show last year. Attendance is growing. The hotels and restaurants in Houston are excellent. December is a lovely time of year to visit Houston and indeed we have another dealer couple staying with us for a couple of days after the show. The first PNG day at Houston started last year and although it was relatively small, we were pleasantly surprised. This show is growing and you would enjoy attending.

What else is going on in December? We will be attending the Ontario, CA coin show during the third week of the month. There is also a PCGS invitational in Las Vegas. Frankly, I send coins to the PCGS invitational for grading, but I have found attendance at the PCGS Trade and Grade shows to be a waste of time-don’t make a special trip.

Last but not least, I wanted to mention the FUN Show being held in Tampa, FL this January. The Florida United Numismatists Show is the biggest show of the year. It eclipsed the annual ANA Summer Show in attendance several years ago. The move from Orlando to Tampa this year has been explained as scheduling conflicts with the Orange County Convention Center in Orlando. Cindy Wibker, the show coordinator, does a fabulous job running this huge show.

The problem with the FUN Show is Orlando itself. The venue is dangerous. Robberies are a major problem. Yes, Orlando is a desirable venue for many dealers and collectors to bring their families, but this ‘place’ scares me. Take advantage of the show security facility. If you aren’t doing any business before the show, go directly to the security room, secure your coins, and go have some FUN.

I attend coin shows to buy coins for my customers. When we started our website bozarthcoins.com several months ago we wanted to offer our new and fresh coin purchases to the general public. We currently list approximately 500 coins on eBay at any given time, but we wanted to list our best coins AVAILABLE TO ANYONE in a venue without the ridiculous eBay fees. Recently we have started to ‘batch’ our best new purchases to appear on our website twice a month. Most often our new listings will be ‘up’ roughly three days after a major show. Check them out. Best Regards, Vic Bozarth, The Rare Coin Road Warrior.

October 2010

Hi, my name is Vic Bozarth and I am a Rare Coin Road Warrior. I have spent most of my twenty plus years in the rare coin business at shows or on buying trips all over the continental U.S.

In my first Rare Coin Road Warrior column for September I talked about the ANA Convention in Boston, MA held in early August as well as the Illinois State Numismatic Association Show in Chicago, the Long Beach Show, and the newer Whitman Coin Expo in Philadelphia. This month I will write about some of the news from Long Beach and Philadelphia as well as previewing shows in Manchester, NH, St. Louis, MO, Portland, OR, Stamford, CT, Baltimore, MD, and Boston, MA. As you might have guessed the Fall season is very busy with lots of big coin shows. We try to attend all the major shows as well as most of the larger regional shows.

The coin business is very busy right now with the gold bullion price hitting an all time high with each new day. Currently gold is at $1356 as I pen this article from my seat (20C) on a Continental Airlines flight to Boston. Although we are at an all time high price for bullion many rare gold coins are trading at a smaller premium (over melt) than at any time in recent memory. Prices are rising with both the higher bullion prices and increased demand, but good values are still readily available.

The Long Beach Coin and Stamp Expo is one of the largest and most successful shows in the rare coin business. Dealers have been attending the Long Beach Show since the sixties when there were two shows annually. Since the seventies there have been three shows each year generally in February, June, and September. Personally I have attended over 70 straight Long Beach Shows and wouldn’t miss one for the world. We love to visit CA and the Long Beach Show has hundreds of dealers in attendance plus a major Heritage Auction at each show.

Over the last several years the Long Beach Show has had some challenges. Attendance has slipped and many smaller dealers were, to put it frankly, just priced out of the room. I was pleasantly surprised at the September show to see some ‘new’ dealers set up as well as healthy attendance by the public. Indeed, prior to the show, the management of the show did a good job trying to fill the bourse by offering some more attractive table prices to both new attendees and those who had not had a table recently. Long Beach is cool and a lot of dealers make it a better show for everyone.

The Whitman Philadelphia Coin Expo is only in the second year of existence, but these folks know how to run a show. Philadelphia is the home of our first, and for many years only, mint. Philadelphia and the Northeast comprise a large portion of the original thirteen states and ‘old’ coins come out of the woodwork there. After all, the ‘old’ coins were made there. Not only is Philadelphia a great coin town, but it is fun to visit also. The Convention Center itself is conveniently located with lots of lodging and dining options. Public transportation is available too. We really enjoyed the Reading Terminal Market and the dozens of vendors and restaurants available there.

The October Show Schedule is pretty grueling. Early October starts with the New Hampshire Coin Expo in Manchester, NH. Ernie Botte, a dealer and the show promoter, does an excellent job with this show. Not only has it grown, but the new facilities are much improved. New Hampshire is a gorgeous state, especially this time of year. If you have the opportunity I highly recommend this show for a combined coin show/vacation trip.

The largest show in October is arguably the Silver Dollar Expo in St. Charles, MO. Both PCGS and NGC grade ‘on sight’ at this show and there is a Scotsman Rare Coin Auction. The Silver Dollar Expo moved to St. Charles from St. Louis several years ago and it has been a great improvement. The show itself is held in a new convention center connected to a very nice Embassy Suites. Although this show doesn’t have the attendance it once had, it is an excellent show and most of the major dealers as well as many Midwest dealers are represented. One note of interest is the new ANA Fall Show that will be held in Pittsburgh, PA the week following this show next year. The question is whether the grading services (PCGS and NGC) will try and grade on sight at both St. Louis and Pittsburgh next year on back to back weeks.

We are trying a new show in Portland, Oregon this year. The Willamette Club Show is held in Portland, OR at the Doubletree Hotel in downtown Portland. This is a new show for us although I have attended it a couple of times over the last ten years. Because this is a new show for us, I will have to hold off on any comments until next month.

One of the neatest shows to start in the last five years has to be the Coinfest. Coinfest has used some interesting, albeit quirky advertising flyers to promote their show. We attended our first Coinfest a couple of years ago and just ‘walked’ the bourse floor. Last year we took a table and this year we upgraded to a corner table. Coinfest is held in Stamford, CT which is an easy drive from the NYC metropolitan area. The show is just off I-95 and all the bigger East Coast dealers, as well as many from other parts of the country attend. This year the show is being held in a new facility at a Marriott Hotel near the Hilton Hotel show location from last year.

For those of you in the Rocky Mountain states, the Denver Coin Show held the last week of October is an excellent show. We have attended this show and enjoy it thoroughly, but a scheduling conflict between this and Coinfest forced us to skip this year’s Denver Fall Show.

The November show schedule starts off with possibly the best show being held in the U.S. annually. The Whitman Baltimore Coin Expo has developed into a must attend show for most dealers in the country. The facilities are more than adequate. There are lots of hotels, but you must book a room early. Baltimore’s Inner Harbor area, where the convention is held, is cool both historically and for just having fun. Public transportation is available with rail lines dropping off passengers very close to the convention center. Bowers and Merena Auctions hold a large and well attended auction in conjunction with the show also. The Baltimore Coin Expo is held three times a year, but the Fall show has always been the best of the three.

Although we probably will be unable to attend this year’s Fall Bay State Show in Boston, MA, I wanted to put in a good word for Ed Aleo and the work he has done running this show for several decades now. Ed has managed to schedule his show around lots of bigger major shows without getting stepped on time wise. This year’s show is the second week of November. The Bay State Show is held twice a year, in the Spring and Fall, at the Radisson Park Plaza Hotel just two blocks from Boston Commons. Boston is a cool city as most who attended the recent ANA convention there will attest. Boston has really given itself a makeover in recent years. As an added bonus, there is a Legal Seafood Restaurant right across the street.

There are dozens of coin shows every week somewhere in the U.S. We try to attend the larger shows, but I want to emphasize that we just can’t attend them all. There are lots of excellent shows we can’t attend. Unfortunately there aren’t enough weeks in a year. In next month’s Rare Coin Road Warrior I am going to list a few of the shows we don’t attend that I have heard good things about. As an example, Dave and Ginger Pike run several really good shows each year in Grapevine, TX, a suburb of Dallas. Dave and Ginger go out of their way to make dealers feel welcome and when we haven’t had a conflict with another show we have really enjoyed their show. If you have the opportunity you should attend.

Also in next month’s RCRW, I will discuss news from the October Shows we have attended as well as previewing the November Show Schedule. Bozarth Numismatics upcoming schedule includes the following shows:

New Hampshire Coin Expo, Manchester, NH October 8-10

Silver Dollar Show, St. Charles, MO October 14-16

Portland Coin Show, Portland, OR October 22-24

Coinfest, Stamford, CT October 28-30

Whitman Coin Show, Baltimore, MD November 4-7

Santa Clara Coin Expo, Santa Clara, CA November 18-20

Houston Money Show, Houston, TX December 1 PNG Day

Houston Money Show, Houston, TX December 2-4

September 2010

Hi, my name is Vic Bozarth and I am a Rare Coin Road Warrior. My wife Sherri and I own Bozarth Numismatics Inc. Last year we spent over 200 days on the road on nearly 45 different trips. As a professional numismatist and buyer for other companies I have been a ‘rare coin road warrior’ for nearly 25 years. My wife and I attend all major coin shows, as well as most large regional or state coin shows.

Many fellow numismatists and collectors have expressed an interest in hearing about our experiences during our coin show and buying trips. Recently I decided to write a short article each month on the shows we attend as well as the coin buying trips we take to different cities across the United States.

Buying NICE rare coins at reasonable prices becomes more difficult each year. There are a lot of logistical and security considerations we have to plan for with every trip. Not only do we have flights to book, but we also have to find a comfortable and safe hotel or motel preferably close to the show. If we have appointments with customers or other dealers we often rent a car. Those are most of the logistical considerations. Security is the biggest concern. We do have one big advantage. Because we are most often able to travel together, one of us can always watch the coins. We never leave our coins unattended.

Although we have tables at most shows, sometimes I buy an ‘Earlybird’ dealer badge and just attend a show by myself to buy only. During weeks with no major shows, we often fly to a major city and ‘hit’ the shops and offices of the coin dealers in that area. Over the years, I have visited virtually every major city in the continental United States at least once. Fortunately both my wife and I love to travel, because the schedule can be grueling.

Last week we attended the Illinois Numismatic Association show in a suburb of Chicago called Tinley Park. A couple of days before the show we flew in to Detroit, rented a car, and did some business with other dealers on our trip west to Chicago. We really enjoy these trips. Although we experienced a flight delay out of Houston due to bad weather from a tropical storm in the Gulf of Mexico, we were able to see several dealers in Michigan before arriving at the ILNA show in Tinley Park.

The weather in Michigan and Chicago is gorgeous this time of year. The summer heat has softened and the nights are cool and comfortable. The folks with the ILNA Show did a great job in putting on the show despite the construction to enlarge the current convention center in Tinley Park. ILNA moved to this location a couple years ago. They are to be commended for running a good show in a location that has both safe and reasonably priced lodging and good restaurants.

Business on the bourse floor is always busy during dealer set-up. Getting ‘first shot’ at someone’s inventory is the prize for those lucky enough to get there first. Basically ‘first shot’ is what we dealers refer to as the person (usually a dealer) who gets to look at another dealer’s inventory before any other dealer looks. Often times you will hear, ‘Joe got first shot, but I still want to look’. Many dealers attend only a few shows a year and their inventory is ‘fresh’ to other dealers. They have often purchased coins from collections or estates that other dealers haven’t seen, thus the desire to get ‘first shot’.

I was able to get ‘first shot’ with a couple of dealers at the ILNA show and bought some neat items including an 1877 Indian Cent in GEM Proof. I was also able to purchase a couple of Carson City Double Eagles, a Charlotte Mint Half Eagle, and a Dahlonega Mint Half Eagle. Earlier in the trip I was able to pick up both an 1889CC and 1893CC Morgan in high grade circulated condition. These are all ‘slabbed’ PCGS or NGC graded coins. I was also able to ‘cherry pick’ a group of 1900-O/CC Morgans in mint state originally from BU rolls. I do buy a lot of uncertified U.S. coins, but these are sent for grading and certification before I list them on our website.

September has a couple of other interesting shows including two ‘biggies’. The Fall Long Beach, CA show begins on the 22^nd, while the newer Whitman Philadelphia Coin Expo starts on the 30^th. We will be attending the Long Beach Show and have a table at the Whitman Philadelphia Coin Show. These two shows, on opposite sides of the country, are ‘back to back’ and pose some difficult logistical problems. Many East/West coast dealers are going to skip one or the other because of the timing. Indeed, the two major grading services (PCGS and NGC) have both changed their schedules to grade only at the show ‘closer’ to home, although, they will both be accepting coins at both shows.

In next month’s RARE COIN ROAD WARRIOR column I will write about both of these shows as well as previewing the great show in Manchester, NH put on by my friend Ernie Botte. I will also preview the Silver Dollar Show in the super nice convention facility in St. Charles, MO.

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