Flat Attendance for the National Money Show
Last week, the American Numismatic Association announced that the National Money Show attracted 3,288 visitors. However, that buries the lead because the attendance figure includes 376 dealers and 69 staff and volunteers, and the actual attendance of the people walking in the door is 2,843.
The first National Money Show in two years attracted only 2,843 visitors.
In 2019, the National Money Show in Pittsburgh attracted 2,504 visitors, an announcement saying the attendance was over 3,000.
The collecting market has improved. In fact, the collecting market remains very hot even though the economy is showing signs of strain. Attendance at other types of collectors shows has increased, as was experienced at a local ComicCon two weeks ago. Unfortunately, attendance for the National Money Show has not improved.
| Year | City | Attendance* |
|---|---|---|
| 2022 | Colorado Springs | 3,288 |
| 2020-21 | No Show | |
| 2019 | Pittsburgh | 3,002 |
| 2018 | Irving | 2,671 |
| 2017 | Orlando | 2,516 |
| 2016 | Dallas | 2,585 |
| 2015 | Portland | 4,592 |
The United States Mint reports that bulk sales of collectible American Women Quarters are approaching sellouts. Non-numismatic media is publishing reports about the quarters that have the general public looking at their change again, similar to the beginning of the 50 States Quarters Program.
Also, as the Innovation Dollars make their way around the country, the local media outlets report that their readership shows interest in the coins, including how to find them. Some reports note that once their readers discover the program, they purchase more coins and are now collectors.
The success of the Negro Leagues Commemorative Coins has led to an interest in other baseball-themed coins. One person wrote asking about other baseball-themed coins and where to buy them.
If this is what the modern coin collector wants, the shows must evolve to reflect these changes.
It is deja vu all over again. Every time the industry pats itself on the back to show that it is progressing, the reality makes these pronouncements look like an embarrassment.
Modern coin shows are operated the same as they were in the 2000s. In over 20 years, there have been no changes and no evolution, and there has been practically no growth in ANA membership attendance in over 20 years. Is it time to reimagine how to present a coin show?
October 2020 Numismatic Legislation Review
Although many as said a lot about what Congress is doing, numismatically, there is nothing to report. It is typical for Congress to adjourn during October to allow members to campaign. If Congress takes up any business, they believe that it is beneficial to their campaign. Numismatic-related legislation does not make for compelling campaign ads.
The slowdown in paperwork for the Government Printing Office, who is responsible for publishing Congress’s documentation, uses the time to catch up. Several bills whose text was not posted to the Library of Congress’s website are available for review. As a result, the updates from October are adjusting titles and summaries based on the publishing of the bills’ text.
The 2020 Lame Duck session will be interesting. I do not expect any numismatic legislation to be considered until clean-up sessions in December.
H.R. 8242: National Women’s Hall of Fame Commemorative Coin Act of 2020
S. 4663: Coin Metal Modification Authorization and Cost Savings Act of 2020
- reduce costs incurred by.taxpayers;
- be seamless, which shall be determined by verifying that the coins will work interchangeably in most coin acceptors using electromagnetic signature technology; and
- have as minimal an adverse impact as possible on the public and stakeholders.
The Mint must notify Congress before making the modification and provide a justification for the modification.
Weekly World Numismatic News for November 1, 2020
Here we are with the election on Tuesday. The numismatic-related news has some stories but nothing of significance. For bullion buyers, the metals market has been active. One analyst called the market schizophrenic while trying to figure out what economic conditions will be.
Another analyst that follows the silver market noted the decline of silver prices since September. Among the reasons is that early buyers of silver are looking to cash in on their holdings. Those who bought last year when the average price was around $18 per ozt have been looking to profit from the spot being over $22. When asked if the price of silver will decline, the response was to ask after the election.
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- 60 Day Gold Chart ending 01-Nov-2020 — courtesy of Kitco
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- 60 Day Silver Chart ending 01-Nov-2020 — courtesy of Kitco
Gold prices have been steadier but have shown a gradual decline since August. A gold analyst reminded me that gold is a safe haven for investors when markets are uncertain. This analyst did not think the markets will see certainty after the election. Their firm is telling clients that regardless of the outcome of the election, the lame-duck Congress will create a lot of infighting that will spill over into the markets.
The value of many modern collector coins is dependent on the value of the metals. Those coins will see their values fluctuate with the market. Unfortunately, none of the analysts consulted predicted stability in the market. They suggested that unless you had to sell that you might wait. One recommended setting a high and low price for buying and selling but would not recommend the spread.
Regardless of what you choose to do with your investment coin, be prepared for a bumpy ride because none of the analysts would predict any stability for the next six months.
And now the news…
October 24, 2020
→ Read more at lifeinnorway.net
October 25, 2020 → Read more at wbtv.com
October 27, 2020 → Read more at bbc.com
October 27, 2020 → Read more at jpost.com
October 29, 2020 → Read more at au.finance.yahoo.com
ANA Needs Your Help
The American Numismatic Association needs your help.
If the ANA needs your help, then the hobby needs your help.
The ANA, like everything else, has been hit hard by the pandemic. Aside from canceling the World’s Fair of Money, the headquarters in Colorado Springs had to close. And with the number of cases rising, especially in areas that were not hit hard in the first wave, the near future is uncertain. Remember, the 2021 National Money Show is scheduled to be held in Phoenix, and Arizona is reporting one of the worst rates of COVID-19 infections in the country!
Earlier today, ANA members received an email from Executive Director Kim Kiick asking members to donate to the association.
After the note arrived, I tried to write to Kim and the ANA to make a recommendation. I received an autoresponder note saying that Kim was on furlough!
I admit that my heart sank when I received that note. Here in the Washington, DC area, furloughs have a real negative feeling. When the government was closed, and everyone was furloughed, we contractors did not get paid. Being on furlough and knowing people on furlough is terrible, especially when you know and like them.
The ANA has not reported the furloughs’ extent, but I am sure that Kim is not the only one. But the furloughs may not be enough. While the ANA is trying to maintain a presence in the hobby, the ANA is not fully operational. For example, the library is closed. I need the library for a project I have to put on hold because they have a hard-to-find book I want.
DONATE
The ANA is the voice of the hobby and must be viable to ensure numismatics has a future. For the ANA to be viable, the association has to pay the people working in the headquarters. They are the unsung heroes of the ANA. Kim and her staff have held the organization together during the pandemic. They need to be fairly compensated.
Go to info.money.org/fall-appeal to learn how to donate.
SMILE AND BUY
Did you know that you can raise money for the ANA just by shopping on Amazon? They have a program called AmazonSmile that will let you shop and support your favorite charitable organization. Just go to smile.amazon.com, find the ANA in the charitable organizations list, select it, and go shopping.
When you purchase an item marked as “Eligible for AmazonSmile Donation,” Amazon will donate 0.5% of the purchase price to the ANA.
If you buy a $30 item from Amazon, they will donate 15-cents to the ANA. But if 20,000 members buy a $30 item from Amazon, the ANA will receive $3,000!
You might say that this is not a lot of money. But when an organization is hurting, everything counts. If you are shopping on Amazon regularly, just shop on AmazonSmile. If you are a Prime member, Amazon will recognize your membership for free shipping.
Amazon has a page that provides information about the AmazonSmile program. Just click here.
You are shopping on Amazon anyway. Use AmazonSmile and support the ANA. I use AmazonSmile for all of my purchases, including business purchases, and I am a Prime member.
Weekly World Numismatic News for October 25, 2020
Two counterfeit American Silver Eagles purchased from LIACOO, a company based in China.
I have tried my best to get the word out to as many people as possible, including the media. I spent a few hours scouring the Internet for the consumer reporters’ addresses in as many major markets as possible, even sending messages to competing stations. Nobody has responded.
Even though high traffic and Google statistics tracking has pushed the blog closer to the top of the search when people inquire about counterfeit American Silver Eagles, the fact remains that it is difficult or a one-man crusade to cut through the daily noise.
It would have been nice if I had help. I did post warnings on the ANA’s Facebook group. Even though there are Board members involved with the Facebook group, nobody has picked up the ball and tried to put the force of the ANA behind an educational campaign.
The email sent about these fake coins add up to over 150 counterfeit coins. Although it is a small fraction of the total American Silver Eagle population, counterfeits in the market can potentially turn potential collectors into someone who does not trust the market.
I will continue my part of the fight.
Other than the posts I made about these coins, I compiled a list of the websites identified by readers as selling counterfeit American Silver Eagle coins. Once I created the list, I checked the sites to see if they are still selling fakes.
Readers can find the list of dealers selling fake coins at coinsblog.ws/fakes. I will maintain that list with the information as I receive it. Maybe if we work together, we can educate the public and eliminate the demand these scammers use to dupe people.
And now the news…
October 19, 2020 → Read more at millstonenews.com
October 22, 2020 → Read more at expressandstar.com
October 22, 2020 → Read more at jerseyeveningpost.com
October 23, 2020 → Read more at calaverasenterprise.com
Weekly World Numismatic News for October 18, 2020
The narrative about the 2020 numismatic market has been consistent across the media. These reports claim that hat collector coins are selling but at less than enthusiastic rates. Dealers are reporting that bullion coins dominate the market, primarily online. And everyone has read stories that the rare coin market is as healthy as it has ever been.
1794 Flowing Hair Dollar, PCGS SP-66, from the Bruce Moreland Collection (Image courtesy of Rare Coin Wholesalers via PCGS)
A few lots later, the Dexter Specimen Class I 1804 Draped Bust Dollar, recognized as the finest known, failed to sell. The auctioneer lowered the opening bid to $3.2 million and still had no interest.
Although the top of other collectible auctions has seen lower prices, the drop is not as significant as being demonstrated with numismatics. It has become common for art to sell for over $1 million that it no longer makes the news. But few are selling at record prices.
Auction watchers are reporting that rare and scarce items are selling at 20-50 percent over their previous prices. Sports collectibles and other memorabilia are amongst the hottest collectibles. Simultaneously, these same watchers report that automobilia, pottery, and numismatics are not generating the same interest.
Analysts are not trying to explain why the market shifts noting that the COVID-19 pandemic has affected everything. One analyst wrote that some markets see the benefit of material once locked up in collections has surfaced to generate money for the sellers. The market has not kept pace. It is assumed that the buyers are not financially capable of purchasing at the prices being demanded.
It has become a cliché to call these “unprecedented times.” For the auction predictors, the pandemic’s effect has most trying to understand what it means for the markets. We will see if it carries into November when Stacks-Bowers tries to auction the Stickney-Eliasberg 1804 dollar.
And now the news…
October 10, 2020 → Read more at nydailynews.com
October 11, 2020 → Read more at thenewsminute.com
October 12, 2020 → Read more at thesun.co.uk
October 13, 2020 → Read more at churchmilitant.com
October 17, 2020 → Read more at cbc.ca
October 17, 2020 → Read more at blackenterprise.com
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