CORONAVIRUS COIN SHOWS

Who would have ever thought there would be a period of 5 to 6 months or perhaps longer with out any coins shows? This has been the favored way of trading for many collectors & dealers for decades. Despite the growing predominance of website transactions among most coin buyers today, this is still favored by many. It is hard to beat the personal interaction and getting to view in person prospective purchases.

These days dealers with established web sites are doing well. With folks having more time at home, most areas of commerce including numismatics are doing quite well. For those that are fortunate to be able to afford it, collecting seems more in vogue.

For those dealers that largely depend on shows for a living, coupled with collectors longing to browse their favored dealers' wares, there may be good news on the horizon. There is talk of starting a series of shows that will take into consideration all the necessary precautions needed to get dealers and collectors back together. More than just facial masks/gloves for all will be required; temperature checks would be mandatory before entering the show and perhaps the new immunity certificates that the airlines have just announced would need to be presented. Dealer-only hours would start either the evening before opening to the public or the first few hours of the show. Two to three day shows will be the maximum number of days. Admittance to the show would be staged likely 200 to 300 at one time with only limited number of hours allowed on the bourse floor to allow others admittance.

Special rules will be in play to allow social distancing for all. "Double Wides", a term more commonly defined for extra wide trailer park homes, will be the new normal with the bourse floor tables. Rather than the usual 3 x 8 foot table, this will be doubled and two tables will be used to essentially have 6 feet between dealer & customer. Also, tables will be more widely spaced between your neighboring dealers, again allowing proper distancing. Luckily the Allstate show cases we have all been using the past 60 years will still work as we just turn them sideways.

In an unusual move, Corona beer will be one of the show sponsors. Corona has recently introduced several new flavors and as show goers leave, a complimentary can will be handed to all. The first in this series of shows is expected to be in Florida, Southern California and New Jersey with the major grading services & CAC as sponsors. The idea of a special rate of $20.20 per coin or note for grading and authenticity for a limited number per person is being proposed. This endeavor has been in the works since April 1st. More details to follow. Stay tuned and stay safe.

Funny. Thanks.

Tom and I had an email conversation about this. I'm not a show promoter, but I've worked with some shows and it seems to me it would be very hard to pull off a socially-distanced coin show. Physically it's possible to spread everything out, but doubling space in two dimensions cuts capacity to one-fourth of the original floorplan. Creative layouts and the elimination of exhibit and club tables might allow table space for at most half the usual number of dealers.

Club shows and nearly every show with or without income from a major coin auction operates on thin margins. To break even with only half the dealer tables they would need a big discount on rent for the hall. The venues have a lot of expenses of their own just to keep the doors open and lights on - would they be willing and able to share the financial pain?

And what about the dealer perspective? If only half the normal number of dealers and public attend, they'll probably expect to do less wholesale and retail business, and would expect a discounted table fee, making it all the harder for the show organizer to break even, let alone book a profit.

We will get through this period somehow, but in-person events face an uphill battle in the interim. For another perspective, I reached out to American Numismatic Association Board member Shanna Schmidt. -Editor

"I'm on the convention committee for the Pittsburgh ANA and this is a real issue at the moment. I appreciate reading Brian's perspective and as a smaller dealer I would entertain smart ideas in order to have a show. At the moment the perspective amongst the committee for the ANA WFOM is to wait to see what is actually possible. We still don't know if the city of Pittsburgh will even allow a trade show. If they cancel the show then there is the answer. If they allow us to have it then likely August is as good a time as any to have a show if we have one since the COVID-19 will likely reappear in the Fall again.

"That said, it will undoubtedly be a smaller show regardless of whether the ANA cuts down on tables or limits people in. I believe that psychologically many people will opt out of traveling to a show because of fear or health issues. Many will just stay away and this isn't necessarily a bad thing since we need the show to be smaller. My one concern is how to choose who gets a table and who doesn't. Perhaps this will be the same scenario as the attendees - some dealers will just opt out. The large auctions that take place there will still be an important component of the ANA and right now there is no reason to think that they can't take place.

"What is important is for everyone to understand that this will pass and we will have trade shows again. For the moment it really is unknown and I urge my fellow dealers to find alternative ways to reach out to their customers. I'm setting up Zoom sessions with customers so they can see my coins. Other smaller dealers can do this too. My business has been affected by this virus and I'm not selling tons of coins right now despite hearing that some people are selling like gangbusters. I simply am trying to take things day by day and think logically about how to get back to business."