ARE COIN SHOWS ENDANGERED?
It is my strong opinion, very few MAJOR shows will survive as more then dealer to dealer wholesale wholesale venues. FUN and ANA may be the only big shows to survive intact as “go to” major shows. Baltimore and Long Beach could suffer badly. The CSNS show has new management and it remains to be seen if it will survive. I LOVE shows like the PCGS Invitationals and I think smaller local shows will survive and even thrive.
We witnessed a transition from shows to auctions during the pandemic. Most auction companies sales doubled or more during that time and have not fallen. The new breed of coin buyer does not go to shows or live auctions. The ANA Show in Chicago was empty of collectors. Beside the covid thing, the auction companies chose NOT to hold their sales during the ANA show. Now at Long Beach Heritage is holding their sale in their offices a week later. Stacks just built an incredible studio in its offices for beaming auctions. Show promotors should be worried. The promoters badly need the auction fees to subsidize their shows.
My personal opinion, save the flavor of coin buying! When I started Legend Auctions I wanted to boutique company attached to a show. I thought hard and I approached Don Willis at PCGS. A partnership was formed. I have no regrets and I have no regrets paying much more for the rights for a few more years like I just did. I can’t see doing a sale the following week.
The old format really burnt me and other dealers out trying to work a show then sit until midnight doing a sale. The sales just grew too big. I guess the trend has started for the bigger shows you won’t be seeing many more on site auctions. Auction companies do not need shows anymore. That was proven with the first two Simpson Sales. Have the coins and they will bid. There was no lot viewing and no live in person bidding for those sales. Collectors still flocked to bid in record numbers yielding record prices. I dunno what can be done to shows to save themselves at this point. A severe lack of coins isn’t helping either. While I struggled to survive the grueling schedules of a show with an auction, I feel something is sorely missing not having a live auction at a major show. At FUN and ANA where the biggest sales were held, I remember big rooms nearly filled to capacity with bidders. There was excitement-especially when a big ticket coin was sold. I think auctions brought collectors out. My goodness, can’t these companies at least do one premium night?
This is just how I see it all. Its very disturbing to me that coin buying is mostly a sightunseen commodity now. I’d bet auction catalogs are the next thing to disappear. But then with out 3rd party grading, the internet, and auctions, the rare coin market would never be as huge as it is today. Shows are now an after thought.
A PREDICTION: LAST TWO HOT SHOWS
The first shows in a year +: Baltimore. OMG a major East Coast show. I can only imagine a full train car loaded with coin geeks from NYC. And the biggest one: FUN. I think collectors will come out in force for both (if no more covid restrictions or scares). The big question is: will the coins come out? After these two just back shows, you will see the hurt put on ALL major shows, save for FUN.
I can reached at: lsperber1@hotmail.com. I’d like to hear how people feel about shows and auctions.
P.S. I did it! My first HI trip in 2+ years. I never thought I’d ever be back there. It was wonderful. I did nothing but rest. Had great dialysis out there (no after effects). I felt great (and even walked 9000 steps one day). If you have never been to HI-go there. For sure, Its one place they seem to have control of covid. It is my all time fav place in the world to go to!
To answer all your questions, I went to the Kahala Resort on Oahu (I wanted Maui but could not get dialysis there) with my best friend of get this-50 years! I am still feeling great about the memories. I’ve been to all the islands but Molokai. Will do that next year god willing.
