Ten Things I Did at ANA: A Follow Up to "Ten Things I Want to Do at the 2012 ANA Show"

The last blog I wrote was about ten things I wanted to do at the then-upcoming 2012 Philadelphia ANA show. So did I fulfill my numiswishes? Yes and no. I didn't do everything I wanted but I got a lot done, including buying oodles and oodles of good coins. Let's compare what I did to what I wanted.

1. Meet a Mystery Guest. I didn't see anyone who made my jaw drop (at least at the show) but I did have a few cool table visits. I'd say the most interesting was a collector of branch mint gold who I had sold some great coins to about twenty years but who fell out of touch. Yes, the first question out of my mouth (after "How's the wife and kids?") was, "Do you still have your coins and would you like to sell?"

2. Attend the Battle Born Sale. For collectors of Carson City gold, the sale of the Battle Born collection was a highlight of this or any show. I did attend and it was an event. Prices ranged from kind of reasonable to nuts. I'm going to write a detailed coin-by-coin analysis in a week or so, after I am caught up with listing new coins, sending coins in for grading, making deposits, and the dozens of paperworky things that I have to do after any ANA.

3. Have Something Great Walk Up to the Table. At the last Philadelphia ANA, I met a collector who sold me some great coins and I have since spent over a million dollars with him, purchasing some amazing items. I had hoped that I would have something comparable walk up to the table this year but no luck. I asked other dealers if they had the little-old-lady-with a-box-of 1880's Proof Sets scenario that I hoped against hope for. No one said they did. But one dealer made a point that I thought bears repeating: the hotel buyers that have invaded nearly every city in the U.S. have made these sort of deals even more unlikely to find.

4. Wear Nice Clothes in Very, Very Humid Conditions. Every time I ask myself "why did I move to the Pacific Northwest," all I have to do is spend a summer week anywhere other than Portland. Virtually every day of the show saw 90+ degree weather with brutal humidity. I would have been sweaty even in my typical shorts and t-shirt summer garb; in a tie and jacket it was just brutal. My dry cleaner would likely give Big Ups to Philadelphia's weather but I was dying...

5. View Exhibits:. I'm embarrassed to admit that not only did I not view the exhibits, I don't think I even made it across the room. That's what happens when you work your fanny off for ten hours a day in a room that's about the size of a football stadium.

6. See the Barnes Collection. I went to the Barnes Museum on Monday and it was without a doubt the highlight of the trip. Utterly fantastic and a collection that has amazing lessons to collectors of everything, even coins. In fact, I am going to write an article soon about "what I learned from the Barnes collection." If you are ever close to Philadelphia I urge, urge, urge you to see this amazing museum!

7. Eat at Reading Market I did. Every day. Sometimes for breakfast and lunch. I ate Amish doughnuts. I ate Italian sammies. I had clams. I had pizza. I gained weight. But it kept me sane and kept me away from the convention for a few minutes every day. It was great.

8. Restocking Inventory. I wound up buying over 100 new coins and spent more than a million dollars. The first group of new purchases are up and listed on my website (www.raregoldcoins.com) and the next wave will hit in about a week. How was buying at the show? Brutally hard. It was a ton of work to find these coins but I am proud to offer some great fresh pieces in price ranges that go from cheap (around $1,000-1,500) to expensive ($25,000 and up).

9. Experience the ANA Buzz. Was it a great show? Yes and no. It was well-located, well-run, and massive. I'd go back to Philadelphia for another show although I much prefer New York or Boston for an eastern location. My biggest complaint was that it was too long. With the pre-show (and I could make a great argument for nuking it) and the regular show it was a very long week. I got so tired one night at the auction I actually had to go outside and get fresh air, fearing that I was about to have an out-of-body experience. ANA Week is clearly a marathon and, I'm afraid, I've become more of a middle distance kinda guy in my middle age.

10. Leaving the Show. I was supposed to leave the show on Friday but my flight was cancelled and I had to stay until mid-day on Saturday. It worked out just fine in the end but, yes, it was great to get home except for the fact that I have been working ten+ hour days since then catching up.

How was your ANA experience? Did you find what you were looking for? Contact me by email at dwn@ont.com and let me know.

1851-O $20.00 NGC AU58 CAC

There are a small number of Gem Sliders known for this date and when they become available, collectors get excited. The reason is simple: an MS61 example of this date, if available, is now approaching $40,000 and a very high end AU58 like this coin is a remarkable value at less than half the price. This piece probably never entered circulation and it has glassy semi-prooflike surfaces with rich light green-gold that is accentuated by splashes of rich lime-gold across the central obverse. The strike is as sharp as one could hope for and there is just the slightest amount of bag friction on the high spots of the obverse. A small mark on the obverse can be seen between stars two and three and it seems to be mint-made. An exciting coin for the advanced collector of New Orleans gold.

CAC has approved two in this grade and two finer.

2/2

1841-O $10.00 PCGS EF40

The 1841-O eagle is a significant issue for a variety of reasons. It is the first year of issue for New Orleans eagles and it has a tiny original mintage of just 2,500. It is the second rarest No Motto eagle from this mint in terms of overall rarity after the 1859-O but it is the rarest from the standpoint of high grade availability. It is unknown in Mint State and extremely rare in properly graded AU with less than ten known. While it is available from time to time in EF grades, most of these coins are dipped and very abraded with little or no eye appeal. This example has a great natural appearance with deep, even green-gold color. It shows very clean surfaces with fewer marks than normal and the strike is above average as well with good detail at the centers. In the recently-concluded Stack's Bowers 2012 ANA sale, a PCGS EF45 example of this date sold for $16,450 and I don't think it was significantly finer than the EF40 I am offering here for significantly less money. While prices have risen on this issue in the last few years, I think it is still very undervalued and I would buy an 1841-O sooner than later if you need one for your New Orleans eagle set.

1861-S $20.00 NGC AU55 CAC

This deeply toned example is among the few totally original 1861-S double eagles that I can recall having seen in many years. It shows rich Euro-style color with deep green-gold surfaces that are contrasted by the hues on the relief details. There is a good degree of luster below the toning and the surfaces are choice for the issue. This is probably the scarcest regular issue SF double eagle from the Civil War era and I am very fond of this coin's appearance. CAC has approved just two in this grade with eight finer.

1884-CC $20.00 NGC AU55 CAC

In years and years of specializing in Carson City double eagles, I can't recall a time that these coins have been more popular than they are now and I forecast continued growth in this market due to a greater demand than supply. The sort of coin that people are really clamoring for now are common and slightly better dates in EF and AU with great eye appeal; exactly like this example. There is minor wear seen on both sides, no detracting marks and attractive natural light golden-orange color. In short, this is exactly the sort of CC $20 you should be buying if you are just getting interested in this historic, highly collectable series.

CAC has approved seventeen in this grade with another twenty-five finer than this.

1864 $20.00 PCGS AU50

While certainly not as scarce as the 1862 and 1863 Philadelphia double eagles, the 1864 is a tough date in its own right, especially with non-shipwreck surfaces and natural color. This example is very clean for the issue with no deep marks and both sides are covered with medium green-gold color that changes to pale red-gold at the borders.

1863-S $20.00 NGC AU55

Medium S mintmark variety. This example seems to have original surfaces and its "Euro" style appearance makes me almost certain it is not from one of the shipwrecks that are the source of many higher grade 1863-S double eagles. The strike is well above average for the date with nearly full radial lines within the obverse stars and some definition on the hair strands. This date is actually fairly tough in this grade with original surfaces and I personally like the naked-eye appearance quite a bit.

There are two mintmark varieties for this date: the Small S and the Medium S. The latter appears to be more scarce.

1852-C $5.00 PCGS AU50 CAC

A textbook example for the grade with good detail, outstanding peripheral orange-gold color and a decent amount of remaining luster. The 1852-C is among the more common Charlotte half eagles which make this a perfect date for type purposes. Some light marks in the left obverse field do not detract.

CAC has approved three in this grade with twelve finer.

1841 $5.00 NGC MS64*

Early date Liberty Head half eagles just aren't supposed to look like this...but if you do want a No Motto example of this type with wonderful eye appeal, than the 1841 is a great choice. Not only is this date typically well made, there was a small hoard at one time (maybe eight to ten coins?) that grade MS64 to MS65 by today's standards and which are notable for their fantastic appearance(s). The present example is amazingly flashy with blazing frosty/semiprooflike hybrid luster and full cameo contrast on the obverse. There is a small cluster of marks behind the eagle's head that keeps this from grading MS65 but the eye appeal, as I mentioned above, is suggestive of a full 65. The first Gem that I can recall seeing of this date was the Milas: 439 coin (graded MS65 by NGC) that sold for $34,100 all the way back in 1995. Since then, other nice pieces have sold in the $20,000 range including two in the Bass sales (1999 and 2000) graded MS64 by PCGS. A stunning coin that would work well in nearly any type set of mid-19th century United States gold.

Note: The NGC and PCGS population figures for this date are well inflated due to resubmissions.