One dealer referred to it as an “odyssey”, definitions for which include: (1) a long, adventurous trip; and (2) an intellectual and spiritual quest. Undoubtedly, it is to the former definition that this dealer is referring, specifically a long, adventurous numismatic trip culminating with this year’s 2010 ANA World’s Fair of Money. The latter definition, however, may not be very far off the mark. A true-to-life cOinDysseus’ numismatic wanderings may have started at the Castle pre show or the Bay State show, both of which enjoyed decent crowds and brisk buying and selling on wholesale and retail levels. Collectors discussed purchases, kicked tires and many generally held back, awaiting the main event. One could almost detect a palpable excitement emanating from these collectors and the realization that the main course was still some time away. The first of three major auctions in the Boston area took place Saturday Aug 7, this one under the auspices of Bowers and Merena Galleries. Seven-figure coins never cease to amaze. From the much touted Cardinal Collection came a 1794 Flowing Hair Dollar graded NGC MS64 that realized over $1.2 million. This became a duplicate piece when the finest known example graded SP66 by PCGS was, purchased for $7.85 million in May. Total prices realized for the B&M sale reached $9.2 million. Stack’s hosted a sale on Sunday Aug 8, which got underway less than 24 hours from the conclusion of the B&M affair. This one-day, two-session sale, boasted 922 lots sold and realized $4.2 million. Normally, such a Sunday night would conclude all participants’ wanderings - two shows, two major auctions, impromptu bourses. cOinDysseus, however, has perhaps just enough time to tackle another numismatic task of mythical proportions – an accounting of business that has occurred since arriving in Boston, an honest appraisal of inventory needs, cash flow realities, and then some rest, the odyssey is barely half over. PNG Day was held on Monday Aug 9 with a rather small bourse, but don’t lose sight of the fact that it is populated by the best-of-the best, with non members requiring an invitation for admittance. Dealer set-up for the big show took place the following day with plenty of last minute deals taking place. Richard Nachbar took in a last minute consignment, adding another 13 lots to his sealed Bid sale set to conclude on Friday the 13th. Eleven of the new lots are housed in PCGS old green holders, including a Continental Dollar and three Bechtler Gold pieces. Heritage is the host auctioneer of the show with a multi-day sale beginning on Aug 11.
    

Reprinted from Issue No. 33   August 13, 2010 of the Coin Dealer Newsletter - the Greysheet
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