The conclusion of The Central States Numismatic Convention proved interesting, to say the least. An unexpected spring snow storm moved in on Saturday, cancelling flights and altering travel plans. Rob and Robbie ended up driving 600 miles home with another east coast coin dealer, each one a casualty of cancelled flights. Travel hassles aside, Central States was both productive and profitable. Although we heard some gripes from fellow dealers, most of the market leaders concurred with our assessment; business was out there if one sought it out.
The market continues to be price sensitive and quality conscious. Virtually any coin can be resold at a quick profit if it is purchased at the right level. This trend was evident throughout the show. The real challenge continues to be finding coins at the right level. Fortunately for Rob, Robbie and The Reeded Edge, their market presence has helped garner both business and coins towards their booth.
The guys had a great buying show, a fact evidenced by the hundreds of new coins listed on our store this week. Selling also was solid, although the show crowd was sparse at times. From our understanding, the Heritage auction was very strong with several rarities realizing multiples of their pre-sale estimates.
With the reemergence of PCGS on-site grading, new life was breathed into the show. We believe with their current leadership team and market direction, PCGS can only help other major coin shows, as well. Much of our new inventory is fresh Central States grading returns, courtesy of PCGS on-site show grading.
Although an overall good show, in our opinion, Central States could be shortened to a 2-3 day bourse and a 1/2 day setup, probably with similar results. The length of this show is unnecessarily long, and at times, seems arduous. At the end of the day, Central States once again performed, mostly a bi-product of an overall healthy coin market and an enthusiastic collector audience.