In his NGC blog Jeff Garrett published a review of the coin market at the Pittsburgh show. Here are some excerpts - see the complete article online.
A new generation of rare coin dealers has arrived
After years of handwringing by hobby leaders about the aging demographics of numismatics, an explosion of new young talent has appeared on the bourse floor. There are at least 50 to 100 young people who have discovered numismatics as a potential career option. These energetic young dealers are combing the show armed with the latest high-tech pricing information on their phones. They trade among themselves and other dealers. The energy and excitement of this new generation of dealers is heartwarming for the future of the hobby.
Most credit the explosion of social media with this latest development. The Professional Numismatist Guild (PNG) hosted a networking dinner one night for 15 to 20 young dealers along with around 10 veterans of the hobby. Along with myself, other veterans included Jim Halperin, John Dannreuther and Mark Salzberg (who funded the event). The PNG has started a program called nexGen to encourage and engage this new crop of professionals. You would have to go back to the 1970s to find such a large group of young individuals entering the ranks as professionals all at once.
What is Whatnot?
One of the great things that makes the ANA convention so special is the chance for companies to roll out new ideas, concepts and products. Apparently, one of the hottest venues for online collectible sales is Whatnot — a social marketplace for collectibles and other categories. A few dealers were hosting live sales from the ANA bourse floor and noisily trying to create excitement. They seemed to be having success, and I am sure a lot of dealers are now exploring this new sales method. eBay had a huge bourse presence and was touting a similar sales tool called eBay Live. It's hard to keep up with all the new tech developments being employed to grow numismatic sales. In addition, NGC debuted their new holder with a QR code for a fast authentication check of its holder.
Pittsburgh is a great place for a coin show
The 2023 edition of the ANA World's Fair of Money in Pittsburgh was a makeup for the event that was canceled by COVID-19 in 2020. The ANA World's Fair of Money will return to Pittsburgh in 2026. The city and convention center are beautiful, especially with its downtown riverfront location. The convention center is stunning, with one of the few bourse floors unencumbered by pillars. The open expanse of the bourse floor was incredibly impressive. Pittsburgh is within driving distance of millions on the east coast. The Monday night ANA kickoff event at PNC Park (the Pittsburgh Pirates' stadium) was a great way to start the week.
To read the complete article, see:
Jeff Garrett: Reading the Coin Market's Pulse in Pittsburgh
Wayne Homren, Editor
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