It’s ‘Show Time’ for the Eager Collector
During the next two weeks, the operative word for local coin collectors is plethora. That’s because no fewer than three major shows and three major auctions are on the horizon, enough to pacify the most insatiable numismatic appetite.
First up is the 32nd Numismatic Assn. of Southern California Convention and Coin Show at the LAX Hyatt hotel, featuring an auction by Bowers & Merena; and the concurrent 24th Annual Glendale Coin and Stamp Exposition at Glendale Civic Auditorium.
No sooner does the Glendale show end Sunday than the massive six-session L.W. Hoffecker Collection auction by Superior begins in Beverly Hills. It ends Wednesday and will be followed Feb. 12 by the equally massive Long Beach Numismatic and Philatelic Winter Exposition, featuring an auction by Kagin’s.
The Numismatic Assn. show runs from 9 a.m. to 10 p.m. today through Saturday and will host a talk by Richard S. Yeoman at 3 p.m. Saturday on “The 1848 Quarter Eagle.” About 80 dealers are expected at the LAX Hyatt, 6225 W. Century Blvd., Los Angeles. Theme for the convention is “A Salute to Women in Numismatics.”
Meanwhile, across town, the Glendale show with 60 coin and stamp dealers will open Friday at noon and run until 7 p.m. and continue Saturday from 10 a.m. to 7 p.m. and Sunday from 10 a.m. to 5 p.m. at Glendale Civic Auditorium, 1401 N. Verdugo Road, Glendale.
Dave Griffiths of Century Coins in Downtown Los Angeles and a producer of the Glendale show believes this is an ideal time for collectors and investors to purchase numismatic material.
“This is the best buying opportunity since 1981,” Griffiths says. “There’s a big availability of coins but a small availability of investment-quality coins. You have to search for MS-60+ coins, but when you find them, you can buy right. I believe the coin market will take off just like the stock market is doing today. Investment coins are weak today, which represents a great buying position. I don’t think we’ll see an opportunity like this for another four years or so.”
Much coin news still centers on the American eagle, the new United States gold and silver bullion pieces.
“The eagle,” Griffiths says, “has taken millions of dollars out of the numismatic market. And the gold eagle today is down to about where the Maple Leaf is. It’s just a bullion coin. But the silver eagle has the appearance of being a numismatic coin; not a rarity or scarce piece, particularly. The premium now is about $3 over spot.
“Also, the unreleased proof gold and silver eagles are showing a lot of strength. Confirmation orders for the proof gold, which hasn’t been distributed yet, are between $100 and $150 over the issue price of $550. Confirmation orders on the proof silver are $32 to $35. The issue price was $21.”
So, while the speculation on new issues continues, the reality of the market will be taking place at these shows and auctions and across dealer tables. The Superior auction beginning Sunday at 5 p.m. is a case in point. More than 5,500 lots will be sold at the firm’s new headquarters, 9478 W. Olympic Blvd., Beverly Hills. Other auction sessions are Monday at 1 and 6 p.m.; Tuesday at 11 a.m. and 6 p.m., and Wednesday at 10 a.m.
Then, before the magnifying glasses are put away, here comes the Long Beach show. More about that next week.
Question: Recently, I found among my father-in-law’s effects a gold medallion that is undated but apparently minted in London. It has a relief of horses. The coin dealers say it is 18-karat gold and just more than two ounces. The coin dealers offered scrap gold prices. Do you have a suggestion how I might sell this medallion for a better price?--H.T.
Answer: Most medallions such as yours carry little or no premium value. If you can find an interested buyer, you might be able to do better than the offers you have received so far. If a dealer has a customer for such material, he would likely make you a better offer. Most gold medallions sell retail for 10% to 20% more than the gold content. You might have more luck at a coin show, where you can confront many dealers at one location. Your success will depend on finding just the right buyer.
Q: Please tell me if these coins are worth anything: 1861 Francais dix centimes (picture of Emperor Napoleon III); four coins Estados Unidos Mexicanos 1903, 1906, 1914 and 1934; 5 centavos 1914 and 1936, and a man’s head on front with Georgivs VI 3 pence 1943.--H.L.H.
A: Your French and Mexican coins have little or no value. Your British 3 pence is worth about $1.
Coin News
Canada’s 1987 commemorative silver dollar (pictured) observes the 400th anniversary of navigator John Davis’ exploration of Canada’s Baffin Islands, Cumberland Sound and what has since become Davis Strait in the Canadian Eastern Arctic. It is the 22nd dollar in a series that began in 1935. Christopher Gorey designed the reverse, which shows a 16th-Century ship, similar to the vessel used by Davis in 1587. The obverse features Queen Elizabeth II. The silver coin is available in proof ($15) and brilliant uncirculated ($11). The 1987 proof set is $34; the specimen set $11 and the brilliant uncirculated set $6.95. Order by mail from the Royal Canadian Mint, P.O. Box 457, Station A, Ottawa, Ontario K1N 8V5.
Don Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column. Do not telephone. Write to Your Coins, You section, The Times, Times Mirror Square, Los Angeles 90053.