F.u.n. Show Report

I spent pretty much the entire Friday at the Florida United Numismatic (FUN) show and I am pretty well pleased with my trip.

First, this show is the largest coin show in the world (so they say) and I believe it! The floor at the Orlando Convention Center North Concourse was filled with 12 aisles of everything you can imagine. Roughly over 400 booths/dealers filled this show along with the TPG's of PCGS, NGC, ANACS, ICG, PCI and NTC.

How I work a show is that I "zig zaw" the entire show (head angled down) of each booth looking for my "want list" of coins. My mission at this show was to find a 1909-s 1c Indian in MS63RB condition or better, along with 3 or 4 other slots I was looking to upgrade. Now, just to walk the floor and search for these coins took a good 3 hours as these dealers literally had everything and anything to look at. You couldn't help and stop to marvel at say, a 1909-S VDB in MS67RD (PCGS)condition or a MS68 Morgan dollar in a PCGS holder. I didn't stop for long as I had a mission.

If I found the coin(s) I was interested in, I made a note of the booth number and proceeded on...no matter how much I wanted to get it. I would advise all to follow that trade show format which is to NEVER buy the first coin you see/like until you check out the entire floor.

After the zig-zag and note taking, I headed back to the dealers. One had a 1909-S Indian graded by ACG as MS65RB. I really liked the look of this coin, however, I am not a big fan of this TPG. I already had it in my mind that it was NOT a MS65, but a good MS63 and "maybe" a 64RB. I asked the dealer if I could take it to the likes of ANACS/ICG for their opinion and "paid" him with the option of returning it. The price? $1,000 cash. BTW...cash is king at a coin show and offers a buyer better bargaining power.

I took it to ANACS and Randy Campbell (who remembered me from the last Orlando show) looked at me and said, "The color blind guy?" and I responded, "only with red coppers...to some degree". He looked at this Indian in the ACG case and told me it was a strong 63 and possibly a 64 (which made me feel good as I saw the same thing) and then mentioned it looks like a "old dip, retoning...definitely NOT orginal mint luster". So, then I moved down to ICG and met with J. P. Martin, one of the best in the industry. He stated pretty much the same thing "old, old, dip, retoned". I headed back to the dealer and got my money back.

Plan B. I saw a NGC graded MS64RB where they wanted $1,300...just a bit more than I wanted to spend. It happened to be the same price that Coin Values was quoting and I didn't want to pay Coin Value pricing! This coin looked pretty much the same as the ACG MS65RB coin. Now, keep in mind that through my entire search and walk through, I only found 4 1909-S Indians in MS63 condition or better. The ACG MS65RB, this NGC MS64RB, and a NGC 64RD and NGC 65RD (which were beautiful). The reds were out of my budget so I focused on the 64RB and with some back and forth negotiation, I picked it up for $1,200. I figured I paid $200 more than I thought I was going to pay, BUT I got a 64RB from a top tier grading service and one point better than I initially "wished" for.

Along with this purchase, I picked up a "chocolate-luster" high AU 1923-S 1c, a MS63RB 1927-S 1c and a PCGS MS64RD 1932-D 1c (that I will break out) for my raw collection. All three of these Lincolns were upgrades to what I already had.

After the purchases, I went over to the ebay booth and had a "chat" with their representatives. I mentioned the recent Coin World article about the "alphabet of slabs" currently on their auction site and I presented them with a 1988-S PR70 SGS Lincoln with carbon spots and hairlines. I stated loudly that these "grading" companies are KILLING the hobby for many of the collectors. A couple of people at their booth were pretty much interested in my conversation and ebay tried to diffuse me by saying, "It's a free capitalist country and they can't monitor every auction".

I told them they can look the other way while they collect their fees, but "you are doing a diservice to this hobby by allowing these grading companies that sell their OWN coins, which appear as truly independent and 3rd partied." Then, I hit them on the china sellers ( Trade dollars) and replicate coins, which I expalined are NOT coins.

The guy(s) was getting irritated with me (as a crowd was gathering) and asked if we could take this discussion off site. I pretty much vented and gave him (and curious onlookers) a piece of my mind and left him be.

Last, but not least...talked to James Taylor at Anacs. He introduced me to the new slab (no samples to hand out). They are about 2 to 4 weeks from fully implementing this new slab. It is a size right in line with PCGS and NGC dimensions! I like the angled top with coin description so you don't have to pull the slab out of a box to see what coin it actually is. It is pretty slick. You can also see "some" of the coin edge. To reholder old Anacs into the new slab will cost only $5 (which I plan to do).

Bottom line, he really is shaking things up at Anacs (in a good way) and I really believe this new slab will be tougher, more durable, and better for perserving and protecting your investment than the old slab.

I took advise I learned from previous shows. Don't buy the first coin you see. Save and be patient for quality. Come prepared with your own price range and guide. Have fun!