Coin show news from another forum
For info purposes only................
Some fresh observations from a Coin Show....today... -- . ...I...used...to be a 'road apple' years ago, traveling all over the West "hitting" coin shops where I'd dicker with the owner in buying this-and-that (anything he HAD that I felt I could resell for a profit!), then ending up at a coin show where I'd offer most of it for sale....Those days of living-out-of-a-suitcase and eating way too many fast food meals and sleeping in way too many No-tell motels pretty much ended for me some 18 or so years ago when I got back into being a shop owner...
BUT, I still "do" a couple of coins shows a year -- usually just 'major' regional shows such as one going on this weekend in the Seattle area [about 100-110 dealers attending, most from Washington, Oregon, Idaho, California, but a few East coasters and midwesterners, too]....
ANYWAY, today was "set-up" day for the start of the show, with the public admitted IN at noon....I was quite surprised to see as many people pouring in when the show opened, esp. for a weekday/workday...Probably 200-250 came in during the first hour...the room was soon abuzz with coin-talk and lots of folks working their ways up and down the aisles, looking for THAT 'specific' coin or a particular 'deal' ....
There was a fairly good amount of Silver in that convention room today -- I noticed one dealer who'd somehow accumulated maybe 60-100 10-oz. bars (which are NOT easily found currently!!!)...others with a smattering of 1-oz. rounds and old cast-style 25- and 50-oz. product, along with a fair number of 100-oz. bars around the room....Late in the day, as it slowed-down a bit, I did a quick "survey" among those folks to find out IF they'd moved much Silver....to a man most said "NO"....the guy with the full-case of 10-ozers looked to have sold maybe 4-5 bars all afternoon...HE was particularly chagrin about the weak reception, having expected many more buyers....
I suspect we're about to see some serious "price resistance" if Silver moves higher from here, esp. to the old $50.+ levels.....That old saying, "The surest cure for high prices ....is...high prices" may about to be reaffirmed as the public -- the "average Joe" buyer -- finds it a bit too pricey to pay $50. for the ounce of Silver he was buying easily at $16, and $19., and even $25. just 6-8 months ago (and even 4 months ago!)....Quite a few buyers of "bullion" gold & silver pop into coin shows to find 'bargain' pricing on products, whether they actually do much with coins or not.....IF they were there today, they weren't reaching for their wallets....
Yeah, we may still go up another $2 or $4 or $10 higher, but it's NOT because of "physical buyers" on a small level at this point.......just a "head's up" as I see it....
CCRS member since: 1/24/2011
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Coin show news from another forum (taxicab, 4/9/2011)
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