by Todd Haefer
Wednesday July 06, 2005
Dealers at the 2005 MidAmerica Coin Expo June 23-26 said their sales were as hot as the 98-degree outside temperatures in Rosemont, Ill.
“It’s been a good show,” said Grant Campbell, of Dalton Gold and Silver, Dalton, Ga., who specializes in Morgans and Charlotte Mint coins. “Semi-key and key-date Morgans are still exceeding the listed prices. I’ve also had good sales in type quarters.”
The 24th annual show, sponsored by Numismatic News, was held once again at the Donald E. Stephens Convention Center in Rosemont. Attendance was 1,238, with the highest attendance, 530, on Friday and a Thursday Early Bird turnout of 138.
The official auction company of the show, American Numismatic Rarities, held its Drew St. John sale Thursday and Friday night and garnered close to $1 million in realized prices, including the 15-percent buyer’s fee (see Page 20 for more on the auction).
“There was a scene of near bedlam in the lobby Thursday morning with boothholders and Early Birds clamoring for their badges,” said Convention Chairman Kevin Foley. “Booth holders as a whole moved in earlier in the day than any show in recent memory. From the very beginning, there was the unmistakable buzz of transactions being completed.”
Dave Nottleman, of Pete’s Coins and Currency, Downer’s Grove, Ill., said he was also doing good business.
“Key dates are hot and I noticed that there are a lot of new people checking into investing in coins. It’s an area showing strong growth compared to stocks.”
Mike Capawan, of Keshequa Coins, Nunda, N.Y., said many of his customers were buying general type coins and preferred raw, as opposed to slabbed examples. He said registry sets were also popular for him.
Chuck Brashears, of Brashers Collectibles, Kearney, Neb., said he had an excellent show, with buyers interested in common modern coins, such as as Jefferson nickels and Washington quarters. Also selling well were Indians, Lincolns, common-date Morgans and error coins.
Brashears and his wife, Patricia, are both retired engineers who solely sell at shows – no store, at-home sales or Internet presence.
“We probably go to about 45 or so shows a year,” he said. “We are really enjoying our ‘retirement.’”
Todd Clark, vice president of Pacific Science Supplies, Inc., of Bensenville, Ill., was promoting his company’s line of microscopes at the show. He was asked if the number of high-profile error coins that have appeared this year is having an impact on his sales.
“No one has ever mentioned errors specifically,” he said, “but all I know is that this time of year is usually a time of flat sales, but we’re doing great.”
A change in the Early Bird schedule resulted in some observations by dealers. Early Birds were allowed in at 10 a.m. instead of the usual 2 p.m.
Nottleman preferred the later admission time.
“It doesn’t give enough time to properly set up,” he said.
Campbell concurred, adding that if dealers are still arranging coins and cases when the public starts coming in, it can also cause a security concern.
Nottleman also said he’d like to see more dealers stay until the end of the show on Sunday. By mid-afternoon Saturday, more than half the dealers had already packed up and gone home.
Nottleman’s co-worker at the show, Pete Blaje, said he’d like to see the American Numismatic Association have a booth at the show, and more exhibits and events for youths.
“Chicago is a huge market,” he said. “Where’s the involvement?”
The Chicago Coin Club held a meeting Saturday afternoon featuring a 3-D presentation by David Sundman, of Littleton Company, Littleton, N.H., “How Uncle Sam Made His Money.”
After placing the 3-D glasses on, attendees were treated to a photographic tour of the of the Philadelphia, New Orleans, Denver, San Francisco and Charlotte mints in the 1800s, plus scenes of gold mining, hydraulic mining, Central City, which built a sidewalk of silver bars, the U.S. Bureau of Engraving and Printing and one image of $250,000 in $20 gold pieces.
Foley said about 90 percent of the dealers at the show renewed for next year before they left.
“That fact probably says more about the level of business activity at the show than anything else,” he said. Next year’s show will be held June 22-25 at the same location. Foley can be contacted at P.O. Box 573, Milwaukee, WI 53201; tel. (414) 421-3484; e-mail, kfoley2@wi.rr.com.