2020 BRINGS UNEXPECTED BOOST TO NUMISMATICS

and that is something to celebrate. Ten months of 2020 were - to under-state the incredibly obvious - challenging in many respects. But there is hope and progress on several fronts. At DKRC, we are optimists generally, and especially so at present. Better days are surely ahead. And yet, as I've said many times in this space, there is plenty of good here and now.

Among the things we count as good...David Kahn Rare Coins has just concluded our highest sales year ever! If you had asked me where I felt we'd end the year back in late March or early April, I'll admit my projection would have been less than fully optimistic. In all of 2020, we set up at 3 coin shows...FUN in January, the ANA's National Money Show in late February, and a modest, regional show in Gettysburg, PA in September. That was it. Typically, we would have also been at Baltimore in March, Central States in April (which is usually our second highest grossing show of the year, right behind either winter FUN or summer ANA), Baltimore in July, ANA in August, and Baltimore in November, plus a couple of other, smaller shows. Combined, those generally account for roughly 40% of our annual sales. Of course, my concern earlier this year was not just about shows that wouldn't happen, it was primarily how the coin market in general would fare during a global pandemic. My expectations were somewhat dire.

But, something completely amazing happened. Our online sales, both here and on ebay, more than doubled. You, our established, loyal customers were not only buying coins online, you were aggressively pursuing coins online. Melissa and I sincerely thank you for that...for your business, your trust, and your friendship. We clearly understand it is vital for any business to maintain and grow established relationships. But there was much more to the story. We found that collectors were returning to coins after years away, new collectors were coming into the market, and many collectors who hadn't yet dealt with us, did just that. And, it wasn't just us. Virtually all the dealers we network with had similar experiences. This paradigm shift has clearly been great for us, but in a larger sense, it is fabulous for the hobby we love. A larger, more vibrant market is incredibly good for the numismatic community as a whole.

We don't yet understand if this substantial increase in online sales will hold after the return to "normal" - whatever that may be - when collectors can again attend a major show and see and touch untold numbers of coins in one room. But, we think there's a reasonably good chance that the ease of online buying - from proven, trusted sources, who offer excellent images and honest commentary - will continue to serve more of our customer's needs than in years past. The simple reality is that many, if not the vast majority of collectors, now realize that they don't have to travel to a coin show to buy great coins, and do so with confidence.

Still, I'm a traditionalist, and I think most collectors are too. I like a coin show. OK, I love a coin show. There is so much to see, so much to do, challenges to be met, goals to achieve - and most importantly - other, like-minded people to share those experiences with. That is a foundational aspect of collecting that online shopping can never satisfy. I don't think shows are a thing of the past. Maybe that day is coming, but I don't think it is coming particularly soon. I know some interested observers who say that day has already arrived, but I disagree with them. Yes, some of you may choose to stay home, but I firmly believe that shows will be great again.

With regard to coin shows generally, we are not yet out of the woods. FUN was canceled a few weeks back, Long Beach in February and the ANA's March National Money show in Phoenix are officially out, and I have to think there is a zero chance for Baltimore later in March, though no official announcement has been made. In terms of the other majors, if I were to guess at the odds, there is perhaps a small chance of Central States in late April (I sure hope it can go...see my comments above), maybe a modest chance of Long Beach in June, and a darn good chance of Summer FUN in early July. That's where I'm betting the first "major" will be, and I've already reserved a prominent, corner table for that show, which is not one we typically do. But, we're doing it this coming July! I think that pent-up demand for a big show is likely to produce incredible results. Melissa and I both look forward to seeing you there...more than we can tell you!

To view DKRC stock, see:
https://www.ebay.com/str/davidkahnrarecoins
https://www.davidkahnrarecoins.com/

To read earlier E-Sylum articles, see:
CORONAVIRUS COMES FOR THE COIN SHOWS (https://www.coinbooks.org/v23/esylum_v23n11a11.html)
SMALL SHOWS, LIVELY NUMISMATIC ACTIVITY (https://www.coinbooks.org/v23/esylum_v23n38a19.html)

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