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NYINC 2017 Review

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What better start to the New Year than the must-do trip to New York for a week-long numismatic bonanza that is the New York International Numismatic Convention. The event is held annually since 1973 and is one of the most important world coin trade shows out there.

This year was the last time the event was held at the renowned Waldorf Astoria, next year it will be at the Hyatt Central. Starting with Heritage auctions, a total six auction houses had their first auctions of the year at the hotel. Read my previous post for my review on the D. Moore Auction of Exemplary World Gem Coinage on Monday (Heritage).

Waldorf Astoria entrance from Park Avenue.

Schedule of events

Generally there was at least one auction every day starting on Sunday 8th. The show itself started on Thursday 12th January and goes until Sunday. Day 1 is the professional preview with an entry price of $125. Friday to Sunday is open for the public and tickets are $20. On the Saturday a lot of numismatic associations held meetings (including BNTA) and there are talks which are open for visitors. For example David Guest from CNG's London office did a talk at 4pm: 'Unicorns, Thistles and Renaissance Realism: The Coinage of James III of Scotland'. See the event website for the full schedule of events.

This year's show

Compared to last year many exhibitors in the satellite rooms experience a significant drop in visitor numbers and sales. It seems this may have been due to poor signposting as dealers in the Starlight room reported similar numbers like last year.

Our table was in the Metropolitan Suite, one of the satellite rooms.

I was sharing the table with Eric Eigner of Drake Sterling Numismatics, Sydney, Australia. He deals in high graded rarities, mainly from down under but I noted some distinguished British coins too, such as a brilliant 1707 Guinea graded PCGS MS62 (finest) and a fantastic 1826 Proof Half Sovereign in PCGS PR65 Deep Cameo. These and others are listed on their website www.drakesterling.com.au.

Last year I sold well across all price tiers and types. This year interest was highest in Russian coins and high grade (slabbed) gold coins. It was good to see continued strength in Russian coins despite their currency's bad performance in the last year and a half. Stronger ties between US and Russia ahead (Trump and Putin seems to get along!) may positively influence the Russian rouble which in course will boost the Russian coin market. My investment tip for 2017: buy Russian coins and gold coins!

The Coin Cabinet's top selling coin at this year's NYINC was a proof 5 kopek 1911, highest graded in PR67.

Next year the show will be held at the Hyatt Central and this should be good for everyone as the Hyatt only has one large room and no dealers will be stuck in satellite rooms which can be surprisingly hard to find, especially for first-time visitors. 

Next year I'll also be looking to bring some material from other dealers and collectors who would benefit from having their items on display at one of the leading coin shows of the year, at a considerably low cost. If you're interested, get in touch well in advance to discuss the options.


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