FUN Show, Day 1 (Dealer Setup)

The FUN Show officially started today (at 2pm), although we’ve been here since Monday afternoon. I’ve already looked at over 3,000 auctions lots and prepared bids for hundreds of them. (Ultimately we will come home with only a handful of those lots for our web site.) The vibe of the floor can be best described by a feeling that dealers are hungry for fresh deals. Yes, there are many thousands of auction lots available, but one dealer summed up the problem to me by saying that”very few fresh coins make it to the bourse floor anymore.” It’s true. Frankly, we at DLRC bring only the older inventory to shows to sell off because our primary venue is the Internet. In other words, if you want our best coins, visit our web site.

This is not always the case as we do bring fresh collector auction consignment to shows because it’s very important to get dealer bids on these coins. We brought the Golden Pioneer Collection of Gold Coins here for that reason, and dealers our outbidding collectors by a 4-3 margin.

Gold was down for the second day in a row, which came as a disappointment to some, as well… Despite this, every dealer I spoke to today told me that business was better than expected for setup. I expect that tomorrow will be the busiest day of the show, and a real barometer of the first quarter of the coin market. Stay tuned…