A Coin Lovers
Odyssey By Warren Mills | Summer Baltimore
- 6/24/2011
I decided to take a couple of days and go
to the June Baltimore Show. With our stance for original
coins, we were getting thin. So off I went for Wednesday
private showings and all day Thursday. Normally, I do not
do the summer show because of dealer and collector vacationing.
In my opinion, the show is a shell of the fall and spring
extravaganza…and so it was this summer. A lot of dealers
didn’t show up and there weren’t enough fresh
coins. I could find all the dipped coins in gold and type
I could car load out of there with and without CAC stickers,
especially in proof.
Original coins are going the way of the
dodo bird. And when one turns up that is sound, expect to
have it offered at multiples of bid. Alas, PCGS and NGC’s
stance of “bright is right” has doomed legions
of original coins to the dip tank. And legions of new collectors
will never know squat about truly un-tampered with full
of character numismatic treasures. I’m afraid that
the U.S. coin market is following the Canadian market; tons
of new mint products every year that cannot all be absorbed.
When buyers look at older dipped out coins, they feel that
new bright coins are the way to go. Thank the grading services
and dealers for taking the lazy way out so proper appreciation
for the history of coins has been destroyed. This also allows
a large group of Cro-Magnon dealers in the market that can
barely read an insert tag to sell coins. I’m glad
knowledgeable buyers still buy in auctions to show the uneducated
what truly nice original coins can sell for.
I offered a collector an original proof
set recently and he passed due to the fact that you can
find re-dipped over graded swill for less anywhere. Try
to find original 1930’s proof sets now that have not
been cellophane burned to death. It is a real odyssey.
This year the ANA came to us again with
hat in hand to send coins for all of their grading classes.
As usual, we obliged hoping to encourage stewards of our
great hobby. I was even asked to be an instructor for the
advanced class. Unfortunately, I couldn’t due to a
few people being out on vacation that week. If I am offered
the opportunity next year, I’m going to do it and
I’ll let you know what I learn. I try to approach
everything as a learning experience. For me, it enhances
my appreciation and keeps me alert to subtle factoids that
help me with buying.
Thank you to all our faithful clients that
still appreciate what coins are all about. Numismatics is
the historical appreciation for coins, not the modern way
to dip them all to death.