Christmas in August Sale - Starts in


Gerry's Daily Blog

August 20, 2018

Christmas In August Sale Weekend Arrives

Greetings from the Maine GFRC office and welcome to a regular Blog edition.

Between the Shanghai trip and Philadelphia ANA, it is difficult to remember when a "regular Blog" edition was shared but we should be able to find our way home on this matter.

There is a noticeable change in southern Maine weather as Labor Day weekend approaches. Evenings are crisp and cool with daytime highs only reaching the mid 70s. There is a hint of Fall in the air already with the front yard burning bush (Euonymus alatus) exposing some burnt gold and red hues. Yes, Fall will be upon us shortly and I can't wait for a quiet month of September with no coin shows or other events.

The GFRC office is essentially back to normal with inventory sorted and small denomination consigned coins photographed. Sunday was a marathon that ended at midnight. Unpacking, lawn mowing and catching up the COIN database with Philly ANA sales were major accomplishments. The GFRC Sales Archives will be updated after the Blog is wrapped up followed by order shipments and driving into Windham to deposit checks and cash.

Obviously, there are no prepared topics for today's Blog. Instead a kind reminder that Christmas in August Sales instructions are due by Tuesday noon. Please remember to use the title "Christmas in August Sale instructions" for price reduction emails. So far most consignors have complied leadings to a faster loading of price discounting instructions in the COIN system.

 

Philadelphia ANA Consignments

Consignments poured in, at the Philly ANA show, at an exciting pace. The pace was too fast to itemize in the Daily Blog so please keep visiting often as new client galleries will be posted when processed and available. In the coming month, there will be a host of new offerings on the GFRC price list to consider. For those who peruse the GFRC price lists and have a good sense of the inventory, you will find many items have been sold. Replacements are definitely on the way.

To make my point, following are four outstanding mint state Liberty Seated dimes that arrived to inventory during the ANA show. Let's take a walk through these offerings;

- The 1859 F-107 NGC MS67 CAC example is simple stunning and housed in old time NGC Fatty holder. This piece has been off the market for years and is a testimony to old time grading standards. Frosty cartwheel luster is vibrant and playful under a light source. Coloring is exquisite as is the strike. Priced at $7,800.

- One never sees an 1868-S dime is high grade mint state, especially MS64. When building my own mint state Seated dime set, the 1868-S date was one of the last to be located. I purchased an ICG MS65 and downgraded it to PCGS MS64 followed by securing CAC approval. This PCGS MS64 example was consigned on Saturday and took me by complete suprise. Cartwheel luster has a steely texture under crusty gray patina. Strike is 100% complete. Though PCGS pop report indicates 10 pieces certifiied, where are they? CoinFacts has a single auction record dating back to 2005. Priced at $5500.

- The 1869-S F-102 Small Thin S offering is an enigma. This die pairing is always found with heavily eroded dies that have a light "orange peel" texture in the fields. My F-102 example grades PCGS MS65 and is a classic late die state specimen. So when this very early die state proof like piece was consigned on Saturday, I was taken by surprise. This example is the real deal with diagonal die polish lines throughout the obverse. While in my possession, I will be adding this early die state to the "web-book" to ensure awareness for future collectors of the series. Please call me if this offering might be for you as it remains unpriced.

- Lastly, is a gorgeous 1877-S PCGS MS65 CAC dime that surfaces at Philadelpha ANA on Saturday. Astute collectors of the series well recognize the 1877-S date as being the opposite of common! It took about 5 micro seconds to render a purchase decision at a strong asking price once holding this little gem in hand. This example turned out to be the F-101 Repunched Date die variety with potential for inclusion in a Top 100 Varieties set too! Priced at $3850.

Important Liberty Seated Dimes from Philadelphia ANA

1859 F-107 NGC MS67 CAC Fatty 10C                                             1868-S F-101 PCGS MS64 10C     

    

1869-S F-102 NGC MS64 10C                                                   1877-S F-101 PCGS MS65 CAC 10C

    

 

Global Financial News

After not writing this segment for nearly two weeks, let's take a look at commodities and interest rates. The financial world remains in balance and harmony. Crude oil is quoting a tad below $65/bbl while spot gold is at $1193/oz. Bitcoin is steady at $6412 and the 10 year U.S. bond is yielding 2.86%. For those watching the Chinese RMB (yours truly), the currency has stopped falling at 6.86 to the U.S. dollar.

Let's take a peek at Seeking Alpha headlines to catch up on global news. We open with the fact that Greece has survived and completed its EU bailout and is free to return to the bond market for financing.

Today is a historic day for Greece as nearly a decade of external financial help and the nation's third bailout comes to an end. Athens will now be able to tap financial markets to fund its activities, marking the closure of the European sovereign debt crisis after Portugal, Ireland and Spain came back from the brink. Speaking too soon? Renewed market tremors last week over Italian debt and attacks by politicians in Rome on Europe's establishment are fueling fresh fears that all is not well with the euro.

The tail is waging the dog in Venezuela as the currency loses five zeros and the minimum wage is increased by over 3000%. Yes, business will pay with higher tax rates. Don't you love socialism when the wheels fall off and drastic reactions are necessary?

Ahead of a major currency overhaul today, when Caracas will start issuing new banknotes after slashing five zeroes off the crippled bolivar, President Maduro detailed other measures he hopes will pull Venezuela out of crisis. They include hiking the minimum wage by over 3,000%, boosting the corporate tax rate and increasing highly-subsidized gas prices in coming weeks. "I want the country to recover and I have the formula. Trust me," he declared on state television.

Iran is touting military upgrades in reaction to renewed U.S. sanctions.

Defying new U.S. sanctions aimed at curbing Tehran's missile program and regional influence, Iran said it will unveil a new fighter jet when it celebrates National Defense Industry Day on Aug. 22 and will continue developing missile capabilities. The Islamic Republic's navy also announced that it mounted a locally built advanced defensive weapons system on one of its warships for the first time as tensions rise in the Persian Gulf.

Walmart is reacting to China trade tariffs by trying to source products from other countries.

Tariff fallout... Walmart has asked its cosmetics suppliers to consider sourcing their goods in countries outside of China, as it looks for ways to mitigate the impact of a new duties proposed by the Trump administration, Bloomberg reports. In an email sent on Aug. 7, the world's largest retailer asks suppliers if they have facilities outside China, and if not, whether they would consider investing in them to broaden their sourcing ability.

 

Featured Coins of the Day

I'm pleased to report that GFRC sold over 70 coins at the Philadelphia ANA with most being consigned. However, that still leaves a substantial number of great coins within GFRC inventory to consider. Following are some small denomination pieces, with CAC approval, to consider as we close out a "regular" edition of the Daily Blog.

1865 Plain 5 PCGS MS63RB CAC 1C                                       1830 LM-13 PCGS MS63 Gold CAC 5c

    

1913-S Type 2 PCGS AU58 CAC 5C                                            1837 LD F-103c PCGS AU55 CAC 10C

    

1845 F-101 NGC AU55 CAC 10C                                                   1859 F-107 NGC MS65 CAC 10C

    

 

Thank you for stopping by and being loyal Daily Blog readers!

The Daily Blog averaged over 500 hits per day during the Philadelphia ANA show and I expect this number to increase once new client gallery offerings are posted.

Ok, that is a wrap and time for a quick shower and immediately into the shipping the department. See you tomorrow.

 

 

 

August 19, 2018

Philadelphia ANA in History Books - Wrap Up Time

Greetings from the GFRC Maine office and welcome to the Daily Blog.

Beautiful blue skies and a cool morning breeze permeates through the office windows at 7:00 am as a Philadelphia ANA summary edition is composed. The hard boiled eggs are cooking and a hot cup of coffee accompanies me. It is great to be home and writing the Blog while sitting in a comfortable office chair and enjoying the outdoor greenery.

The Philadelphia ANA was a truly memorable GFRC and LSCC event so let's use today's edition to capture the highlights along with other stories that were in the email inbox this morning.

The Lucky Jade Coin and Karma

Many Blog readers are already aware that your author is a believer in karma. A lovely jade coin, a gift from Rikinn in Beijing, is constantly carried in my wallet and will make appearances at major coin shows. Each GFRC staff member is asked to rub the coin while silently wishing for good fortune. This Dan and I did each morning after configuring the Philadelphia ANA booth and one cannot argue with the outcome. Even Saturday brought more sales and some wonderful walk up purchases from wholesale dealers.

Wkipedia describes Karma as: Karma means action, work or deed; it also refers to the spiritual principle of cause and effect where intent and actions of an individual influence the future of that individual. Good intent and good deeds contribute to good karma and future happiness, while bad intent and bad deeds contribute to bad karma and future suffering. Karma is closely associated with the idea of rebirth in many schools of Indian religions. In these schools, karma in the present affects one's future in the current life.

Building karma in the coin business means treating customers, consignors and friends with kindness, honesty and integrity. As one's karma is accumulated by good intents and action, those deeds are repaid with good fortune in the future. The act of rubbing the Lucky Jade Coin is a reminder that happiness and good fortune can be managed in one's life. When bad luck does appear, it is best to quickly forget and forgive those involved. More on this point shortly.

 

Liberty Seated Collection Club Publications Receive Two NLG Awards

The Numismatic Literary Guild issues annual awards for best numismatic publications. It is equivalent to the Oscars, Emmys or Tonys in the entertainment world.

I so pleased to report that the LSCC's Gobrecht Journal won the award for best club periodical and Len Ausburger won the award for best written column in the E-Gobrecht. The LSCC is currently recognized as one of the premium numismatic clubs and these two awards future substantiate our impact in the hobby.

Congratulations to Bill Bugert, Len Augsburger and all the Gobrecht Journal and E-Gobrecht authors. As a team, we are becoming a role model for out of the box thinking and creativity.

 

The Wrong Arch Street Parking Garage

After giving Dan White much grief for forgetting his cellphone back in Sarasota, I have a confession to make. Your author parked the Acura MDX in the wrong prepaid parking garage on Arch St when arriving on Monday.

Luckily, I am proactive and decided on Saturday morning to return to the parking garage to verify that the MDX was fine before making a quick Philadelphia exit at 2:30pm. Dan White went to the bourse floor and I walked to the parking garage, on the printed prepaid receipt. After walking through six floors in the high humidty and dragging luggage, I could not locate my car and then realized Monday's mistake. I returned to the bourse, to cool off, drink water and then back tracked Monday's arrival events and realized the car was in a parking garage adjacent to the Hilton Hotel and not immediately across from the location of the ANA event.

This was a $215 mistake and hopefully we can recover the unused prepaid monies. As mentioned earlier, it is best to quickly forgive one's self for a mistake made during the stressful coin luggage drop off on Monday.

 

More Philadelphia Food Poisoning Report By GFRC Customer

In Saturday's Blog, I mentioned that Greg Johnson suffered food poisoning from a Chili's hamburger. Well, this was not an isolate case as a GFRC customer sent along the following report via email. His food poisoning was severe and required a night in local hospital. Our well wishes go out to this LSCC member!

Hi Gerry

Congratulations on a highly successful ANA! It was indeed a good show.

Sorry to hear about your friend getting food poisoning at Chilli’s. In fact I got food poising from a burger at Burger/Fries next door to Panera bread. Is was so bad that the paramedics had to remove me from the gate where I was waiting for my Southwest flight back to Houston, put me in an ambulance on the tarmac and take me to Methodist hospital where I spent the night. I am a little better now and am returning to Houston this afternoon.

Despite this adventure I enjoyed the show thoroughly. I appreciate your help with the 1861-O Liberty Seated halves I bought from you.

 

GFRC No Longer Welcomed at a Not To Be Named Dealer's Table

The segment is a warning to new LSCC members to be wary when making expensive coin purchases from dealers that sell mostly raw coins. In today's market, most coins that can be certified are indeed found in TPG holders. Those that cannot be certified will accumulate with certain dealers that specialize in selling raw coins. These dealers have a buyer beware philosophy concerning their products and leave it to the collector to decide if a coin presents fair value.

The problem arrives when inexperienced collectors shop with these dealers and pay full retail for problem coins. This situation took place for a new LSCC member and inexperienced collector. After making a certified Liberty Seated half dollar purchase from GFRC, he pulls out a new raw coin purchase ($850) from a Not To Be Named Dealer. I immediately noted the "AU" Seated half had been cleaned and lightly retoned. Since I am so strict with grading and quality ratings, I asked Dan to confirm and he just rolled his eyes. We then explained to the LSCC member the unnatural "luster" from an old cleaning and the old coloring. This individual thanked us for the consulting and left the table. Later in the day, he returns and reports securing a refund from the dealer for that coin. What was said during the return process was not discussed but I'm sure my name and status as LSCC President was leveraged. Oh dear......

The next day, another LSCC member and long term GFRC customer approaches the GFRC table and asks if I will go to the same Not To Be Named Dealer's table to validate that a $4000 raw Seated dime is gradeable. My first response was that the probability was less than 1%. After more prodding and an offer to buy lunch, I agreed and went to the Not To Be Named Dealer's table to examine. The first response from the dealer's wife was that I was not welcomed at their table. Ok, that is no surprise at this point given the prior day's consulting. I looked at the coin regardless and sure enough, the reverse was obviously hairlined and would never certify unless submitted to a blind grader.

Conclusion....if spending big money on raw coins, have a trusted dealer validate the purchase before writing a check! Raw coins, in today's market, have a high probability of being problematic.

 

GFRC Closes Consignment Window Until Middle September

More strong consignments were taken on Saturday and a huge coin deal arrived this week in three USPS Express boxes. The value of the latter approaches $70,000 with Philadelphia insourced consignments being well over $100,000. I'm literally buried with consignments and new purchases and will need a month to catch up considering the upcoming Christmas in August Sale and the Central Ohio Numismatic Association (CONA) show on Labor Day weekend.

 

Wrapping Up the Blog

My apology for the lack of Blog coin images within this edition and during the Philadelphia ANA. The Blog will return to regular format on Monday morning.

Given the cool temperature and sunny skies, I'm going to enjoy a health walk followed by spending the day unpacking coins and catching up on administrative workload from the Philly show.

Thank you for checking in on a Sunday morning.

 

 

 

August 18, 2018

Philly ANA Day 4: Controlled Chaos and Hitting the Wall

Greetings from Philadelphia for a fifth and final day and welcome to the Daily Blog.

This Blog edition is written on Friday evening given the need for packing and an early start to the bourse floor on Saturday morning. After five action packed days of traveling, bourse floor action and writing Blogs during evening hours, I'm ready for a break this evening. Therefore today's Blog will be some what brief as some downtime is required.

GFRC Breaks the Six Figure Sales Mark

Yes, GFRC is pleased to announce that it has achieved its first six figure sales event. Friday sales were a tad subdued as the Philadelphia ANA's floor traffic was slower than prior days. Regardless of fewer collectors in attendance, the sales "yield" for those who visited the GFRC table remained high. Individuals who took vacation time to attend this ANA show were serious about their hobby and ready to secure acquisitions. United States gold and Liberty Seated halves were the popular items of the day.

 

Managing Controlled Chaos at the GFRC Table

Multi tasking and rapid decision making are paramount for being a successful coin dealer on a fast paced bourse floor. Buying coins is especially challenging as evaluations and decisions must be made is less than a few minutes given all the other time demands. I'm writing this piece to raise awareness and communicate that there are limits to the bandwidth of any individual to service others. When a bourse floor is active and a dealer's offerings are popular, then customer service demands can multiple quickly. In today's instant gratification society, there are individuals who wish to be attended to immediately regardless if there is one person at a dealer's table or five others. I can see the intense look on collectors faces for service as there are so many other dealers to visit on a large bourse like the ANA. Some less than bashful customers will even interrupt a conversation or a transaction to gain a dealer's attention. No harm is meant but the constant demands and interruptions do take a toll and will wear down any individual. Controlled chaos is a term that might describe these situations and hopefully the following will help collectors appreciate the service demands that a dealer faces. At GFRC, Dan and I wish to provide the best possible service but have limitations.

During a regular day on the bourse, your GFRC dealer must accomplish many tasks. Following are typical activities;

- Waiting on customers and answering questions concerning the coin under consideration. Has it been to CAC? What is your best price? How does your price compare to the such and such price guide? Can you have this crossed from NGC to PCGS for me? What payment terms can you provide? Is this a better variety? Can you attribute the variety for me? Imagine answering three to four questions and the time taken only to have the customer say I'll think about it and walk away?

- Insourcing consignments and explaining the consignment process to new consignors. Each consignor brings different needs and service requirements. Even though there is a well documented policy and procedures, each engagement brings different demands. Some consignors already have thought through retail pricing while others lack confidence and wish to approve the dealer's proposals. I could write more but let's stop here.

- Working with wholesalers to source new inventory. Wholesalers attempt to reach as many dealers as possible to maximum their sales and profit and will only come by once maybe twice. Then the opportunity is missed as the dealer is forgetten.

- Grading submissions are time consuming and require careful attention when preparing submission forms. At GFRC, this activity is scheduled for later in the show during slower times.

- Collector requests for advice and mentorship. New collectors, especially new LSCC members, often approach my table seeking help with either setting collecting goals or help with differentiating original from cleaned coins. Most dealers will not entertain the latter topic but at GFRC, I do conduct quick session with new collectors.

- Pages constantly placing advertising and leaflets on display cases. Every time I turn around, it seems that more papers are thrown on my cases and I will quickly move those to the trash can. It become so bad at one point that I used a loud voice to tell the pages to not place more of this wasteful material on my cases. Maybe this practice should be discussed and stopped at coin shows as simply a waste of resources and time.

- Monitoring the bourse table and cases for potential theft. While all of the above actions are taking place, a portion of a dealer's brain must be constantly observing for potential theft. Loss of a four figure coin to theft is a punch to the gut for a dealer working hard to make expenses and enjoy a profit.

- When a break is the action arrives, it is a chance to insource new coins into the COIN database (and placing into the cases) or catch up on sales documentation. Some collectors see Gerry's "idle" time as a chance to come to the table and chat with me as an audience for their latest cool purchases or other important items to communicate. I do my best to listen while knowing there are still three to four tasks to be accomplished before closing the table for the day. If not accomplished, then I'm working late into the evening within a hotel room. A dealer's bourse floor table is essentially his mobile office without walls or a closed door.

So "controlled chaos" probably best describes the past four days. At Friday 4:00pm, I hit the wall and was too tired to care about selling another coin. It was time to open the remaining Coppola cabernet sauvgnon bottle and share with Dan, Len Augsburger with Greg Johnson obstaining due to a mild case of food poisioning the prior evening from a Chili's hamburger. I had dinner with Greg and was so fortunate to have orderd a chicken salad.

I've written today's Blog towards raising awareness for the challenges and conditions on the other side of the table. Being a successful coin dealer may be cool but it requires a constant attention to details, strong multi tasking skills and considerable mental energy.

 

Wrapping Up the Blog

Once again it is approaching 10:00 pm and time to call it a day. Saturday brings a partial day on the bourse followed by a seven hour drive back to Maine.

Thank you to everyone who has been monitoring the blogs during the Philly ANA. Some of you have pointed out typo's and helped maintain a high quality standard.

The next Blog will be written from the Maine GFRC office after securing a good night's sleep in my own bed.

 

 

 

August 17, 2018

GFRC Breaks $3,000,000 Consignor Payments Milestone!

Greetings from Philadelphia for a fourth day and welcome to the Daily Blog.

Once again, this edition of the Daily Blog is written on the prior evening due to early starting times on the bourse floor.

LSCC 45th Annual Meeting Summary

Thursday's activities kicked off with a quick opening of the GFRC booth followed by the Liberty Seated Collectors Club annual meeting at 9:00 am. Premier LSCC Membership medal distribution took place immediately before the meeting. Gerry Fortin called the meeting to order and reminded the 40+ attendees that this was the 45th club anniversary and the second largest club member turnout. The largest ever gathering took place when former President John McCloskey retired in conjunction with the induction of Eugene Gardner into the LSCC Hall of Fame.

From Thursday's annual LSCC meeting, the following highlights are worthy of being shared;

- Steven Petty won the 2017 Kamal M. Ahwash literary award for best article entitled “An Overdue Update on the Survival Rates of Liberty Seated Dollars”

- Jim Macor received the President's Award for his ongoing artistic contributions including designing the LSCC logo, multiple Gobrecht Journal cover art and finally, the Premier LSCC Membership medals and Capital Plastic holders.

- The 2018 LSCC Hall of Fame inductee was none other than Len Augsburger. Len is the current LSCC Vice President, a well recognized numismatic author including the Eric P. Newman biography and Project Director for the Newman Numismatic Portal.

- In attendance at the our meeting was Pierre Trepagnier and his wife Louise. Pierre is the great, great grandson of Chief Engraver William Barber. His attendance was coordinated by John Frost in support of a wonderful club exhibit on the life of William Barber.

- Dale Miller, secretary/treasurer, provided a concise financial report. Our club is in excellent financial health.

- Gerry Fortin then discussed plans for SeatedFest II at Whitman Baltimore to be held during Spring 2019 or Spring 2020 show. SeatedFest II will be a combination educational event with ANA Summer Seminar classroom curriculm coupled with displays of the finest Liberty Seated coinage sets by club members.

- The annual meeting closed with an education presentation by Dick Osburn on Liberty Seated dollars.

 

GFRC Breaks the $3,000,000 Consignor Payments Milestone

I'm incredibly pleased to report that excellent Philadelphia ANA sales lifted GFRC through the $3,000,000 milestone on Wednesday. Again, GFRC's up to date consignor payments can be viewed at the Consignor link. A conservative goal had been set to attain this level by the end of 2018. However, GFRC sales have been running well ahead of 2017 and resulted in a much earlier goal achievement. A sincere thanks goes out to all consignors who have supported the GFRC business model since 2014. The pace of new consignments continues to accelerate including those arriving at the Philadelphia ANA show. More on a special consignment that arrived on Thursday immediately after returning to Table #840 from the LSCC meeting.

 

Philadelphia ANA Day 3 Report: Sales Remain Strong

There has been no let down whatsoever at the GFRC booth during the ANA show. Thursday brought another thoroughly busy day with excellent sales. It appears that GFRC may be able to crack the six figure sales threshold before breaking down the booth on Saturday. The Philadelphia ANA show has been well attended by collectors with most individuals who visit with GFRC making purchases. I cannot remember another large show with both strong collector attendance and high purchase yield per customer visit. Dan and I are tired but still looking forward to another non stop day on Friday.

 

Noteworthy GFRC Consignment - Bowers & Ruddy Gallery Sourced Collection

Immediately after returning to the GFRC booth from the LSCC meeting, an individual approached the GFRC booth and wished to speak with me. Friends had recommended that this individual consider using GFRC to divest some 40 year old raw coin holdings that were purchased directly from Bowers & Ruddy Galleries. This gentleman and myself moved to the GFRC gold cases for a quiet discussion while Dan White attempted to handle the morning flow of customers. This individual has been a long time collector with coins purchased in the late 1960s and throughout the 1970s. Many coins were directly purchased for Q. David Bowers. Then a single plastic page of 16 raw coins was offered for review and potential consignment. One scan of the coins and a few spot checks immediately exposed old time quality and conservative grading as compared to today's standards. Following are the 16 coins that are immediately heading to PCGS for grading followed by CAC submission. My goal is to have this collection ready for sale at the Fall Whitman Baltimore show.

- 1861 Scott Half Dollar Restrike original AU50/AU55

- 1931-S Lincoln 1c MS63/64 Red

- 1913 Type 1 5c MS66/MS67; 1930 MS66/MS67, 1936-D MS65/MS66

- 1822 Capped Bust 25c F12/F15; 1824/2 VF20/VF25

- 1866-S Motto Seated 25c F12; 1869-S AU50/AU53

- 1795 Flowing Hair VG08 50c

- 1826 Capped Bust 50c AU58 Frosty Luster; 1830 AU50 lovely gun metal gray-blue toning; 1833 AU55 steely luster

- 1892 Columbian Exposition MS65/MS66, another MS63/MS64 and 1936 Bay Bridge MS63/MS64

 

Wrapping Up the Blog

Well it is already 9:30 pm and there are still the day's sales to enter into the COIN system towards removing ANA sold coins from the online price list. Then it will be time for some much deserved sleep before starting the day over again on Friday.

Thank you for following GFRC happenings at the Philadelphia ANA. It has been an exciting show so far.

 

 

August 16, 2018

An Amazing GFRC Day at Philadelphia ANA!

Greetings from Philadelphia for a third day and welcome to the Daily Blog.

As usual, this Blog edition is composed during evening hours due to early starting times each day. Thursday morning will be particularly busy with 8:00am GFRC booth setup then immediately moving to Room 120c to host the annual LSCC meeting and also distributing Premier LSCC Membership medals before calling the annual meeting to order.

Philadelphia ANA Day 2 Report

Wow! Wednesday was an amazing GFRC sales day and I suspect there will be more business at hand on Thursday and Friday.

Let's backtrack a bit and start at the beginning of the day. Dan and I enjoyed a quiet breakfast at 7:00 am, at the hotel, followed by arriving on the bourse floor at exactly 8:00 am for dealer opening time. After setting up the booth, the lucky jade stone was retrieved from my wallet. We took turns rubbing the stone and seeking divine intervention for a prosperous day. Well it definitely worked.....

Old friends arrived to the booth once the bourse opened to the public at 10:00am. The first friend commented that I was on the Philadelphia Chamber of Commerce's hit list after yesterday's Blog. We enjoy a good laugh over that comment. More friends and customers arrived and all shared their agreement with the observations made in Wednesday's edition. The Blog was indeed 100% accurate but maybe as bit too direct. Everyone we spoke with much preferred being in Baltimore than Philadelphia.

Then business kick in with non stop action and a constant flow of customers until about 4:30 pm. Customers were queue three to four at a time sitting around the corner booth and viewing coins. The discount box was removed from the table as it made no sense to dedicate Dan or myself to entertaining that type of business. Instead, we focus on a host of customers and just keep ringing sales without lunch. At 1:00 pm, a quick calculation indicated that GFRC had attained it Philly ANA show sales goal. Sales continues with the pace slowing down around 4:30 pm and by 5:00 it was time to open a quality bottle of Coppola Cabernet Savignon to celebrate a simply amazing day. Here are Gerry and Dan after the first pour from the bottle and in great spirits.

 

So what was hot at the GFRC booth on Wednesday? Most everthing but United States gold. With the ongoing U.S. dollar strength, spot gold prices continued to drop to the $1175/oz level. Collectors hate buying bullion related coins when prices are dropping, therefore GFRC gold business has stalled.

Major coins that traded on Wednesday included the following quality pieces that sold at very close to published asking prices. Key was the fact that these pieces were all premium and highly desirable offerings.

- Draped Bust 1796 LIKERTY PCGS EF45 CAC 5c

- Seated 1849 NGC MS65 CAC 10c Top Pop at CAC

- Capped Bust 1831 B-1 PCGS MS63 25c

- Seated 1870-CC PCGS AG03 CAC 25c

- Seated 1880 PCGS MS67+ CAC 25c

When the dust settled end of day Wednesday, GFRC was well on its way to a potential six figure sales event at Philadelpha ANA! There are still 2.5 days to go.

How do I feel about the numismatic market at this time?

I suspect that a United States economy operating near or at 4.0% GDP would translate into more disposable income for collectors. This belief is being substantiated via GFRC sales results. Of course, GFRC must have substantial coins in inventory to operate at a higher level. This will be the challenge moving forward; locating consignments that traditionally would be the territory of the major auction houses.

 

Premium Consignments Wanted

Let's not waste time for a call for more premium consignments. The numismatic market appears to be in an early upturn phase that we've been anticipating for years. The breath of Philadelphia ANA sales are convincing me that collectors are opening their wallets and returning to the market in a big way. Some customers mentioned having completed paying college expenses and finally having monies for their personal pursuits.

GFRC will have the entire month of September to process new consignments in preparation for the Fall Whitman Baltimore and the NH Coin Expo. Before we know it, the Winter FUN show, back in Orlando, will also be upon us.

 

Wrapping up the Blog

Ok, 10:00 pm is approaching and time for bed after a long day. Let's end the Blog here.

Thank you for stopping by and monitoring GFRC's adventures at the Philadelphia ANA show. I suspect that Thursday may be another exciting day.

Be well!

 

 

 

August 15, 2018

GFRC Enjoys Strong ANA Show Opening Day

Greetings once again from Philadelphia and welcome to the Daily Blog.

To be honest, I would rather be walking the streets of Shanghai rather than Philadelphia. Those who have never visited either city could envision Shanghai as being a third world crowded city and Philadelphia being a well keep American city. The opposite is true. Downtown Philadelphia is crowded with a significant homeless population and beggers. There are the tourists, the narrow streets and and a questionable level of cleaniness. Some of the north-south streets, that pass under the Philadelphia convention center, smell like urine. Shanghai, on the other hand, is a modern city with no beggars or homeless. Streets are bustling with many local people who as well dressed and culturally sensitive about their behaviors. Old Shanghai roads are generally well maintained and a pleasure to walk.

As Dan and I walked back to the Loews hotel from the convention center, this comparison came to mind since being in Shanghai just a week ago. I would much rather stroll the streets of Shanghai is a thoroughly relax and safe manner, than the quiet anxiety of walking a few block here.

Philadelphia ANA Day 1 Report

Dan White continues to catch grief over leaving his cellphone is Sarasota at the GFRC table today. Those who read the Blog could not help but have some fun with Dan.

Seriously, GFRC had a strong start to the Philadelphia ANA show. Our first sale of the day was an impressive $7500 deal of Liberty Seated S mint half dimes and dimes. Table traffic was non stop from about 11:00 am until 4:00 pm. Being so busy, neither of us could break away from the table for lunch. Instead, we had an early dinner (cheese steak hogies) at 4:30 pm as the table traffic finally slowed. When the dust settled, GFRC had done well into the five figures. The 1857-O NGC MS67 CAC dime, from the Cold Quarters Collection, sold to a happy customer for an impressive $8500. Sales from the discount box and bourse cases were steady.

Consignments also poured in. The New Jersey Collection consignor dropped off about 40 more Philadelphia Seated halves and I will have the entire group documented tomorrow. Newtown Collection consignor dropped off another nice group of the Liberty Seated dime duplicates. The Coney Collection of contemporary counterfeits also passed along an 20 or so pieces. The Malvern Collection consignor dropped off 1875-CC and 1876 Seated double dimes. And finally, GFRC took in a four piece set of 1870-CC through 1873-CC Seated dollar in VF-EF grades. All are housed in special Capital plastic holder that appears as old as the coins.....

Thieves were an issue at the Philadelphia ANA show. Already Harry Smith, a South San Francisco dealer, reported catching someone stealing raw coins in 2x2 holders from his table. The thief used the classic method of dropping the coin in between his legs into a bag. Harry saw the action and confronted the customer as he left the table. Another person reported to Dan that his bag, with $2500 in cash, was taken while sitting at another dealer's table. The customer has left the bag by his chair and not paying attention.

 

Christmas In August Sale

Thank you to all consignors who sent along discounting instruction via email. I'm monitoring the influx of emails on this topic and will be confirming next week as the reduced prices are loaded into the COIN system. For some consignors, there may be no need for pricing reductions as your coins have already at the ANA show!

 

Global Financial News

Since the Blog are being written during evenings this week, the Global Financial news is 24 hours old by the time published but still worthy to stay abreast of world developments. Looking at commodities and interest rates, crude oil is inching up to closer to $68/bbl while gold continues to struggle at $1202/oz. Bitcoin prices continue to slip and now down to $6033. The U.S. 10 year Treasury bond yield has also dropped to 2.9%.

Crude oil prices are moving as the Chinese economy is running strong along with fear concerning Iranian sanctions. China is a major importer of Iranian oil with payments probably being settled in gold bullion after netting out Chinese exports to Iran.

Crude oil prices are slightly higher after import data is released out of China and Libya. Along with the strong U.S. dollar, developments with Iran are still seen as the crucial factor in the oil patch. "If 1 million barrels per day or more of Iranian exports go AWOL, the current fragile supply-demand balance will be upended — potentially sending oil prices above the May peak," noted research firm PVM Oil Associates.

United States price inflation may be creeping up....

Are higher wages a risk to the market as consumers get squeezed by price inflation? Consumer Edge Research checked in on consumer prices after last week's CPI report showed the strongest pace since February of 2012. Analyst David Schick noted that appliances and auto parts showed the most inflation in the last several years, while some firming up of inflation was seen with sports goods, household furnishings, and pet food/products. Looking for deflation? Toys remain in a high single-digit downward price spiral in a negative trend for Hasbro, Mattel and JAKKS Pacific. Expect Walmart this week and Target next week to have plenty to say on the delicate balance between consumer prices and wage growth.

 

Wrapping Up the Blog

Wow, it is already 9:00pm and I still must update the COIN database with inventory items sold at the the ANA show so they no longer appearance on the price list. Then it is off to bed for much needed rest before the first full day of public attendance. I'm praying for another strong sales day and will be rubbing that lucky jade stone for good fortune.

Thank you for following GFRC and the Daily Blog as we report the good, the bad and the bizarre from the Philadelphia ANA show. I believe, at this point, that everyone knows I will be straight on the reporting. If a show or a business day is bad, I call it out truthfully with no sugar coating. If a day on the bourse is great than the same. Being a coin dealer means the ability to weather ebbs and flows at a coin show or on a montly basis.

See you tomorrow.

 

 

August 14, 2018

GFRC In Philadelphia

Greetings from Philadelphia and welcome to the Daily Blog.

Monday's southern drive started early at 4:30 am with smooth sailing along the Northeastern corridor, then through New Jersey and into Philadelphia via I-676. Traveling always brings a few surprises. At 7:30 am, Dan White calls from a delayed Tampa flight on a seatmate's phone and reports that he left his cellphone at home. Bummer and a minor complication as Dan and I had made arrangements for 12:00 - 12:30 pm handoff of GFRC inventory at the Loews Hotel in Philly. Obviously in Philadelphia's narrow streets, there was no parking so the hand-off had to be quick. Now we were operating without phone contact and counting on both schedules to sync up so that Dan would be waiting at the hotel entrance to unload the inventory while I placed the MDX into a nearby parking garage. Luckily all worked to plan as I arrived to the hotel entrance at 12:10 pm with Dan waiting for me.

Philly PNG Day Report

After checking in, we were immediately off to PNG Day with the goal for some wholesale buying. The bourse was lightly populated with moderate traffic. Much of the floor traffic was non PNG dealers looking for early shots at new inventory. Gerry and Dan spent about 2 hours on the bourse and purchase a hand full of new coins. Strictly originality and eye appeal were paramount. Following are those new purchase;

Seated 10c: 1876-CC PCGS MS63 and perfect original with thick gray patina and underlying luster. Freshly graded and not sent to CAC

Capped Bust 50c: 1823 PCGS EF45 CAC with monster bullseye toning and considerable eye appeal.

Seated 50c: 1860-S PCGS EF45 with crusty gray surfaces and so choice at the assigned grade level; 1865-S PCGS VF30 choice crusty original; 1867 PCGS EF40 thick crusty gray patina and choice; 1875-CC PCGS EF45 yet another crusty original gray example with choice surfaces.

After the PNG Day bourse visit, we located my favorite wholesaler and reviewed three double row boxes of coins and made a few more inventory additions. As usual, purchased coins had to be above average in terms of eye appeal and originality to fit into GFRC inventory. Following are more acquisitions;

Capped Bust 10c: 1814 STATESOF PCGS VG08 CAC lovely gray fields and circulated cameo appearance; 1827 JR13 PCGS AU55 CAC gun metal gray-blue patina with frosty luster.

Capped Bust 25c: 1832 PCGS EF45 CAC Ex Reiver-Marx, old album obverse bullseye toning that surrounds a light gray center, well struck

Seated 25c: 1891 PCGS AU53 CAC superior eye appeal with rose, blue and gold shades. One of the nicer 1891s seen at this grade level

Seated 50c: 1891 PCGS EF45 CAC absolutely perfect for the grade and underrated date with even gray patina.

 

Wrapping Up the Blog

It has been another long day and already 10:00pm and time for bed. Tuesday starts early as the bourse opens for dealer setup at 8:00am and to the general public at 1:00 pm.

I will be back on Wednesday morning with the ANA Day 1 report. Let's hope for good fortunes and reasonable coins sales.

Thanks for visiting the Blog!

 

 

 

 

 

 

Afterwards, we sat down with my favorite wholesaler for additional inventory reviews. The afternoon effort was successful with a total of eleven (11) coins being purchase.

 

 

 

August 12, 2018

GFRC Announces Automated Consignor Price Discounting

Greetings on a rainy southern Maine morning and welcome to the Daily Blog.

The upcoming Philadelphia ANA show workload had been weighing on my mind but Saturday saw much of the preparation efforts completed. Countless consignment checks were written and COIN account reports shared by email. ANA pick-up orders were invoiced and packed. Premier LSCC Membership medals and Capital Plastic holders are also packed and ready for distribution before the LSCC annual meeting on Thursday morning. More last minuted price list postings arrived during early evening.

The GFRC office closed at 10:00 pm and it was off to bed to secure a long night's sleep before a second day of more Philadelphia show preparations. Dreams arrived during those hours of sleep and yes, I was at a coin show in a strange land with some familiar coin dealer faces. There is no rest for the weary when attempting to well manage a consecutive series of GFRC numismatic events; Shanghai, ANA, Christmas in August and CONA. But I still love this job better than any other in a lifetime.......

 

Christmas In August Sale Banner Arrives

Saturday also brought discussions with Matt Yamatin on two topics. First was firing up the Christmas in August sale banner to remind customers and consignors that this annual event takes place in just eleven days. The countdown clock is active and I'm sure discounting instructions will start arriving via email. My gut feeling is the Christmas in August sale will enjoy significant participation by all with many coins changing hands.

For GFRC consignors sending discounting instructions, please use a special email title of "Xmas in August Sale Instructions" to enable easy access in Hotmail Inbox after the Philadelphia ANA show.

 

Automated GFRC Consignor Price Discounting

The second topic of discussion with Matt Yamatin was new automation within the COIN system. I alluded to this fact in a recent Blog with Matt confirming that the implementation is straight forward. Actually, he went ahead and started programming a test case for evaluation during Beijing daytime hours.

So what is Automated Consignor Price Discounting you might ask?

The concept is simple yet powerful. GFRC consignors will soon have the ability to select automated pricing discounting strategies when their coins are consigned. Two pricing reductions plans will be offered across a a longer timeframe to help move along coins that do not sell within the first six months of being posted on the GFRC price list. The plan options can be selected on an individual coin basis. How cool is that? Here are the price discounting options being programmed as a new module within the COIN system.

Slow Discounting (Option A) - 5% 6 months, 5% 12 months 5% 18 months, 5% 24 months

Fast Discounting (Option B) - 8% 6 months, 8% 12 months, 5% 18 months

Once a consigned item is loaded into the COIN database and a Discounting option is selected, then the consignor no longer needs to worry about further discounting instructions. The COIN system checks the date that a coin is first loaded into the price list and then generates the discounting calculation each time the database is saved. Once a coin moves to Hold or Sold status, the calculation is disabled.

Implementation of the Automated Consignor Price Discounting function will take place in early September after GFRC returns from the Central Ohio Numismatic Association show. September will be the first opportunity to focus on new GFRC business initiatives after a non stop month of August.

At GFRC, we are constantly seeking ways to improve consigned coin sales and returning monies back to collectors as quickly as possible. The Automated Consignor Price Discounting is another step towards improving GFRC services. More details will be forthcoming in a future ediiton of the Daily Blog.

 

Mt. View Collection Carson City Key Dates on Price List

Saturday also brought a chance to properly crop images for the Mt. View Collection 1870 through 1873 Carson City dates. Retail pricing was settled with the consignor to ensure these would be available for display at the Philadelphia ANA.

All four dates, 1870-CC through 1873-CC are CAC approved and feature nothing but honest wear. These are great values as quality filler dates and should not last long once placed in the Philadelphia ANA show cases.

Mt View Collection - Key Carson City Seated Quarter Dates

1870-CC PCGS AG03 CAC 25C - $8450                                      1871-CC PCGS FA02 CAC 25C - $3750

    

1872-CC PCGS G06 CAC 25C - HOLD                                       1873-CC PCGS FA02 CAC 25C - $3800

    

 

Online Purchases During Philadelphia ANA

During the Philadelphia ANA show, GFRC inventory is available for parallel sales; from the bourse display cases and online. I will be monitoring emails for online orders and will immediately pull coins from the case if ordered. Payments for online orders should be immediately mailed and shipments will re-start on August 20.

At the end of each ANA sales day, bourse floor sold coins will be removed from the online price list.

 

Wrapping Up the Blog

Sorry but there will be no Daily Blog edition on Monday morning. Monday brings a very early start to the day for early afternoon arrival into Philadelphia and hotel check in. Dan and I are hoping to catch a portion of PNG day and also have our first buying appointment with my favorite wholesaler.

The next Blog will appear on Tuesday morning.

Thank you for checking in today and I look forward to sharing Philadelphia ANA happenings throughout the week via the Blog.

Wishing everyone a peaceful Sunday. Purchases are always appreciated as every coin left behind in the office means another can travel to the ANA show.....

 

 

 

August 11, 2018

Philadelphia ANA Preparations Underway

GFRC at Corner Table 840

Greetings and welcome to another edition of the Daily Blog.

Cooler temperatures arrive in southern Maine for the weekend. The day starts at a comfortable 58F with a forecast high of 75 as clouds roll in with occasional shower. This is perfectly fine with me after experience 90s and high humidity in Shanghai and similar in Maine upon arriving home. I'm just not a hot weather person.

 

GFRC at Corner Table 840 - Please Visit with Us!

As today's headline indicates, the GFRC office attention shifts to Philadelphia ANA preparations for the next two days. The ANA show is the annual highlight of the national coin show circuit and I expect collectors to be out in force. Luckily, GRFC is driving and will have a substantial portion of its online inventory at the show. The ANA World's Fair of Money is a true convention that spans an entire week. PNG day kicks off the event on Monday followed by ANA dealer setup on Tuesday morning. GFRC will be in the middle of the action and in a buying and selling mood. Dan White is flying in from Sarasota and returns as the GFRC table assistant. I'm looking forward to hanging out with Dan as he manages the United States gold inventory and keeps me out of trouble.

Large events, like the ANA, are opportunities to meet customers and consignors face to face. Our hobby thrives on long term relationships and the best way to build those relationships is through personal contacts. Yes, dealers are always busy behind their tables but I will do my best to carve out time for client discussions. This is why I'm allocating two full days for ANA show preparations and ensuring that purchase pick-ups, grading submissions and discount boxes are carefully prepared towards enabling more one on one time with GFRC friends.

 

New United States $20 Gold on Price List

Friday brought the addition of a nice lot of United Stated double eagles to the price list. All of these offerings were stored in a West Coast bank box for at least a decade or more. The Washington State Collection consignor decided it was time to convert value into other numismatic properties.

Please have a close look as these offerings are not only a gold bullion holding opportunity but also provide numismatic appreciation. Do Blog readers understand how rare an 1878-S $20 Liberty is in MS62 or better? This MS61 example is priced at a small premium above melt and is the last "affordable" grade for the date. The 1897 PCGS MS63 Liberty $20 is a beautiful example at the assigned grade. The 1927 St. Gaudens is so undergraded in its current NGC MS62 Fatty holder.

Washington State Collection Consignment & GFRC $20 U.S. Gold

Old TPG Holders - Nice Bullion & Numismatic Play

   1878-S NGC MS61 G$20                               1897 PCGS MS63 G$20                            1907 Raw MS61 G$20      

        

  1908 NM PCGS MS64 G$20                       1927 NGC MS62 G$20 Fatty                          1928 ICG MS65 G$20        

        

 

GFRC Loves to Buy Back Its Quality Coins

Dealers are a key component of the numismatic hobby for providing access to coins and also providing liquidity when it is time to sell a collection. One of the first lessons learned when starting the GFRC business is to sell quality coins that I wish to handle multiple times. A quick check of the GFRC Sales Archive will illustrate this point as repeated sales of the same coin are commonplace. The days of buy and hold collecting, similar to the United States equity market, are gone. Instead, collectors enjoy building sets and then quickly divesting those assets towards another project. Numismatics is all about ongoing study and absorbing the history associated with the artifacts that we collect. Once a personal collecting goal is achieved, then most collectors will decide to divest and take on another challenge.

For example, GFRC spent Friday evening working on a buy back transaction with a long term customer and reached agreement on nearly forty Liberty Seated and Barber coins as a Phase 1 purchase. These were quality coins sold to the individual between 2014 through early 2018. The shipment will arrive next week while attending the ANA convention. Buying back GFRC sold coins is straightforward and was negotiated as a fixed percentage of the original purchase price. Since I had detailed records in the COIN system for these coins, the buyback evaluation was simply a matter of verifying sales records between myself and the customer. Actually, I am pleased with the opportunity as having the coins back will allow me to update sales records in the Sales Archive with new images and descriptions. Then there are potential Phase 2 discussions that will commence once back from ANA. We will explore the possibility of GFRC buying coins purchased from other dealers during the same timeframe. My in hand inspection is necessary to ensure the quality is consistent with the GFRC brand.

 

GFRC Consignments Solicited at the ANA Convention

Quality consignments are the life blood of the GFRC business model. Facilitating the divestment of numismatic holdings has become my life's calling. Building GFRC and fine tuning internal systems towards fast and efficient sales is an ongoing challenge. The Payments to Consignors metric, available on the Consign link at the top of this page, provides full transparency as to the growing level of consignment sales. As of this morning, GFRC has returned $2,956,810 at 91% of retail sale price to those individual who trusted me with this numismatic holdings. This sales total is small when compared to the leading auction houses or larger national dealers with substantial staffs and cost overhead. Key is the 91% of retail sale price being returned to collectors and an important consideration when making the difficult decision to liquidate cherish holdings.

At the Philadelphia ANA, I will be available to discuss potential consignments. GFRC is primarily focused on quality Draped Bust, Capped Bust, Liberty Seated, Barber and United States gold. As my business matures, it is becoming obvious that more common place 20th Century coins are not GFRC strength and best to refine the focus on earlier series. Of course, GFRC is now well known for handling Liberty Seated coinage in all grades and denominations.

 

1844-O Double Date Liberty Seated Half Dollar Offering

One of the most popular die varieties throughout Liberty Seated coinage is found in the half dollar series. The 1844-O WB-22 Double Date offers a second date punch that is visible with the naked eye directly above the final date punch. The following example has been consigned and wishes to find a new home in an advanced collection. This is just one of the many important die variety pieces that GFRC will have on display and for sale at the Philadelphia ANA. If the current asking price is too high, then please consider an offer. Most consignors are willing to deal on coins at this pricing level.

1844-O WB-22 WB-103 NGC AU55 50C - Offers Requested

 

Featured Coins of the Day

There is no question that GFRC is well recognized for handling large volumes of quality Liberty Seated coinage. At the Philadelphia ANA, GFRC will offer the largest selection of Seated coinage among all other dealers. If Liberty Seated coinage is your passion, then please plan to spend time at Table 840. Whether high end mint state or focused die varieties, GFRC can help with acquisitions and divestments. If considering Liberty Seated collecting, then please stop buy to discuss your goals with me.

Liberty Seated Inventory Highlights

1867 PCGS MS65+ CAC 5C                                                   1873-S PCGS MS66 CAC 5C

    

         1840 ND F-102 PCGS MS63 CAC 10C                                 1841-O F-101 Closed Bud PCGS AU55 CAC 10c

    

1853 No Arrows PCGS AU55 CAC 25C                                              1880 PCGS MS67+ CAC 25C      

    

1839 Drapery PCGS MS64 50C                                                   1855-S NGC AU58 CAC 50C

    

 

My apology for the late Blog edition today! I was up late in the basement sound room after another long day in the GFRC office. I hope the wait was worthwhile as there was much to discuss today.

Thank you for checking in and please consider a purchase! See you tomorrow with more pre ANA show ramblings!

 

 

 

August 10, 2018

A Tidal Wave of Great Consignor Coins to Consider!

Greetings on a beautiful southern Maine Friday morning and welcome to another edition of the Blog.

The recent unsettled weather pattern has given way to a picture perfect Friday and cooler temperatures during the upcoming weekend. The day starts with clear blue skies, a light breeze and temps in the mid 60s. I'm looking forward to a health walk, with those 5 lb weighs, after wrapping up today's Blog edition and then time in the shipping department as new orders start pouring in.

Amazingly, I've not suffered jetlag from the Shanghai trip and grateful for immediately converting to east coast United States time zone. Many Blog readers scolded me for accepting the Kirkland Sleep Aid sleeping pills from a "stranger" when preparing to board the UA87 flight to Newark. Let's just say that there is a special bond between those individuals who fly constantly, with United Global Services and 1K status, as we share the same challenges of living in airports and struggling to secure adequate sleep across multiple time zones. For those who were not aware, I have nearly 2.6 million lifetime miles on United Airlines! The Kirkland sleep aids and being upgraded to United First/Business class allowed for substantial sleep and an immediately resetting of my body clock. Yes, I've ordered the Kirkland product from Amazon for the next Shanghai trip in November.

Thursday brought one of the most productive days in memory as new consignment arrivals were processed and posted to the price list. The "tidal wave" reference is of course an exaggeration but reflects an intense day's efforts and results. All consignments are a blessing to the GFRC business model and community formation. Therefore it is my responsibility to efficiently process and market these coins. This was top priority on Thursday and the results speak for themselves.

Seth Godin's Blog - Price and Satisfaction

I like the following blog from Seth Godin as it fits in well with the philosophy behind building the GFRC business. Note the part about creating satisfaction and how to price services towards staying in business for the long term.

Price and satisfaction

You don’t need to read many reviews to realize that the correlation between price and satisfaction isn’t what you might have guessed.

It’s super rare for someone to write, “5 stars. The product wasn’t perfect, it wasn’t exactly what I needed, but it was really cheap, so, good job!”

In fact, things that are free (streaming music or movies, blog posts, speeches, etc.) almost never get bonus happiness because they had the lowest possible price.

And almost as rare is the review that says, “This is terrific, it was magical and solved all my problems, but I’m only giving it three stars because it had a high price.”

If you want to create satisfaction, the two elements are:

Make useful promises

Keep them

Price is unrelated, except for one thing: Charge enough that you can afford to actually keep your promise.
The thrill of a low price disappears quickly, but the pain of a broken promise lasts a very long time.

 

GFRC Consignment News

I am thrilled to be showcasing four consignments in today's Blog.

Tenafly Collection Consignment

We open with a lot from the Tenafly Collection. Tenafly is currently on a mission to complete Liberty Seated dime and quarter date and mintmark sets. His standards are strict and focusing on those coins rated Choice by GFRC and CAC approval preferred. To fund his daunting project, Tenafly has been divesting previously purchased Liberty Seated halves and his attempt to rebuild the Newman collection in that denomination. Immediate sales of Seated dime and quarter duplicates is a second priority for generating cash flow.

Someone should immediately purchase the 1867-S PCGS VF30 CAC dime as a gem for the grade! The 1854-O F-108a dime is already on hold but the Newman Seated halves are available.

Tenafly Collection Consignment - CAC Approved Seated Dimes and Halves

1867-S F-102 PCGS VF30 CAC 10C

  1854-O F-108a NGC AU58 CAC 10C                  1842 MD PCGS AU53 CAC 50C            1846 MD PCGS AU55 CAC 50C      

       Hold                                                                Eric P. Newman                                               Eric P. Newman

          

1846 TD NGC AU58 CAC 50C                    1846-O TD PCGS EF45 50C                            1875 NGC EF40 CAC 50C

  Eric P. Newman                                                                                                                           Eric P. Newman

          

 

Peak Collection Consignment

We don't often hear much from the Peak Collection but occasionally, this individual will let go a top quality Liberty Seated dollar. This gorgeous 1846 PCGS AU58 example did not make it through Thursday before being placed on hold by a type set collector.

Peak Collection Consignment - Liberty Seated Dollars

1846 PCGS AU58 CAC $1 - HOLD

 

Bayside Collection Consignment

The Bayside consignment is another case of an active GFRC customer deciding to divest duplicates for funding new purchases. His initial offerings are strictly original gray toned type coins. The 1853 A&R and 1875-CC halves are already on hold.....

Bayside Collection Consigment - Nicely Toned Silver Type Duplicates

  1895 ANACS F15 OWH 50C                       1853 A&R NGC VF35 CAC 50C                      1875-CC NGC VF30 CAC T1$

                                                                        Hold                                                                     Hold

        

 

Osprey Collection Consignment

And finally, there is another great offering of United States gold that received immediate attention and several initial sales.

Osprey Collection Consignment - More Eclectic United States Gold

            1836 Script 8 PCGS MS63 G$2.5                                     1846-O PCGS AU58 CAC G$2.5 Rotated Rev

    

   1849 CW PCGS MS61 G$1                           1851 PCGS AU55 G$1                            1855 PCGS AU53 G$1    

        

       1858 PCGS AU58 CAC G$1 - HOLD                     1874 PCGS MS61 G$3                      1851 PCGS EF40 CAC G$5 - HOLD    

        

1909 PCGS MS63+ CAC G$5                         1913 PCGS MS63 CAC G$5                        1899 PCGS MS62 G$10    

        

 1893-S PCGS MS62+ CAC G$20                 1895 PCGS MS63+ G$20       

    

 

Global Financial News

Friday opens with commodities flat to Thursday and longer term U.S. interest rates dropping slightly. Crude oil is barely holding the $67/bbl level while gold continues to be stuck in a tight trading range around $1220/oz. Bitcoin is quoting at $6368 and the 10 year U.S. Treasury yield is down to 2.9%.

We open Seeking Alpha headlines with focus on Turkey's currency issues. President Erdogan is in denial of a looming financial crisis but most strong man behave the same way as their people suffer economic hardships when currencies become worthless.

Turkey's problems are spilling over into the greater market following reports that the ECB is concerned over the impact of a weak lira on European banks, especially BBVA, UniCredit, and BNP Paribas. Data from the BIS also showed the currency, which plunged 13.5% overnight to an all-time low against the dollar, will weigh on banking exposure internationally. For now, Turkish President Recep Erdogan said he will stand up to the pressure, stating "don't forget, if they have their dollars, we have our people, our God."

Russian PM Medvedev issue economic war threat against the United States. For a country with an economy the size of New York state and heavily dependent on oil and natural gas production, this tough talk is bold.

Russian Prime Minister Dmitry Medvedev has reportedly warned the U.S. that sanctions it plans to impose against Moscow over the nerve agent attack of a former spy living in the U.K. could be treated as a declaration of an economic war. "And it would be necessary, it would be needed to react to this war economically, politically, or, if needed, by other means. And our American friends need to understand this."

Now that the United States economy is roaring along, consumer inflation must be carefully watched......

With U.S. GDP growing at a 4.1% clip last quarter and the job market solid, consumer inflation has become the wild card for economists. The latest figure, which could be the highest in more than six years, will be released this morning by the Labor Department. Expectations are for CPI to have increased 2.3% Y/Y, and headline CPI (including food and energy) to have reached a 3% Y/Y pace for the first time since December 2011.

The United States military-industrail complex is cheering this morning....good time ahead!

The Pentagon has released a 15-page report outlining a framework for the establishment of the U.S. Space Force, which would become the sixth military branch. Efforts include an "acceleration" of space technology, the creation of a space-development agency, and a pool of "space experts" and "space warfighting professionals." The division would be responsible for protecting against hypersonic weapons, as well as attacks on communications satellites and the Pentagon's missile-warning systems.

 

Wrapping Up the Blog - Philadelpha ANA Consignment Previews

With the Philadelphia ANA arriving next week, phone call and emails appeared concerning substantial consignments to be transferred to GFRC at the show. Folks, this is starting to get real exciting....

- 40 to 50 Liberty Seated Philadelphia mint halves from the New Jersey Collection

- A raw set of 1870-CC, 1871-CC, 1872-CC and 1873-CC Liberty Seated dollars in VF/EF grades

- Two condition census Liberty Seated dimes in old time NGC Fatty holders; 1857-O NGC MS67 CAC and 1859 NGC MS67 CAC. The 1857-O was Lot 113 in the Stack’s sale (January 1990) of James A Stack, Sr. And Teich Family collections. Here are the images to close out today's Blog.

1857-O NGC MS67 CAC - James Stack Sr. Specimen

 

 

 

 

August 9, 2018

Back in the GFRC Office and Posting Osprey's PCGS Box of 20 Coins!

Greetings from the GFRC office!

Maine weather is pretty much the same as before leaving for Shanghai; hot, humid and unsettled with occasional showers and thunderstorms. Wednesday brought a break in the clouds to photograph the latest Osprey consignment while today will be a heavy image processing day including the Mt. View Collection of Liberty Seated quarters.

I'm happy to be back in the office and surrounded by so many great new consignments that arrived while running around Shanghai. We open the August 9th Blog edition with a very special event. Dan White, GFRC table assistant and a great friend, continues to divest his PCGS Blue Box of 20 Collection. For those who may be new to the Daily Blog, Dan White is a major GFRC consignor for United States gold and operates under the Osprey Collection name.

The Osprey PCGS Box of 20 lot offers unparallel gem quality ratings and reasonable price points given the years it took Dan to hand selection the best of the best seen while working with GFRC. I believe customers will agree these are exceptional offerings. The 1828 NGC AU58 Cappped Bust halve is an amazing coin and so gem original with reflective cartwheel luster. Gold CAC approval on the 1830 PCGS MS63 Capped Bust half dime is fully warranted. How about the eye appeal on the 1859 NGC MS65 CAC Seated dime? Then there is an unapprovable 1880 PCGS MS67+ CAC Seated quarter for advanced collectors who only want the best. We wrap up with two more great halves; 1806 O-117 PCGS VF35 CAC Draped Bust and 1839 NGC AU58 CAC Reeded Edge. Wow!

All are heading to the Philadelphia ANA show and will not last long once placed in the display cases. GFRC online customers are getting first shot with one caveat please. If planning to purchase via online order, please ensure this is a serious purchase as I don't want returns with the upcoming Philly ANA opportunity for selling these coins there.

Osprey PCGS Box of 20 Collection Divestment - Gems!

1828 O-104 R3 NGC AU58 CAC Fatty 50C - $2500

1830 LM-13 R3 PCGS MS63 Gold CAC 5C - $1800                              1844 PCGS AU58 CAC 5C - $430              

    

1859 F-107 NGC MS65 CAC 10C - $2200                                        1880 PCGS MS67+ CAC 25C - $6950

    

1806 O-117 PCGS VF35 CAC 50C - $1800                                      1839 GR-7 NGC AU58 CAC 50C - $1500

    

 

Lost GFRC Emails Between August 1 - August 6 - Need Your Help!!!!

I'll admit it....while flying back from Shanghai, the wireless keyboard in the computer bag was left on and raised havoc with my Hotmail account. Emails dated from August 1 through August 6 were accidentially deleted. Within that timeframe are two types of important emails;

- Price reduction guidance for the Christmas in August sale

- Requests for GFRC inventory to be brought to the Philadelphia ANA show.

I need your help! If providing either of the above information to GFRC during the August 1 through August 6 timeframe, can you please resend. From memory, several individuals are being contacted but my memory is not 100% accurate. Therefore I would appreciate your help reconstructing customer and consignor guidance.

 

LSCC Leadership Team Meets on Wednesday Evening

Last evening LSCC Vice President, Len Augsburger, chaired a final Philadelphia ANA preparation session to ensure that our annual meeting will be conducted smoothly along with the distribution of Premier LSCC Membership Medals prior to meeting kick-off. Following is finalized agenda for the August 16th 9:00am event. Please ensure to attend if at the Philly ANA event.

8:30 - 9:00 am - Distribution of Premier LSCC Medals

9:00 am - LSCC Annual Meeting Kick-off

- Introductions and Group Photo

- Introduction of a Special Guest

- Liberty Seated Collectors Club Status Update/ Premier LSCC Membership Medal Progam

- Kam Ahwash Literary Award

- President's Award

- 2018 Hall of Fame Induction

- Secretary/Treasurer Report

- Special Guest Discussion

- Liberty Seated Dollar Educational Presentation

- Closing of Annual Meeting

 

Global Financial News

The important news of the day for commodities and interest rates is crude oil being back under $67/bbl if even so slightly. Spot gold is holding its own at $1223/oz and Bitcoin appears to have quieted to $6346. The 10 year Treasury yield is flat at 2.96%.

Checking Seeking Alpha headlines yield the following news items. We open with Japan and the U.S. engaging in another round of economic trade talks and Japan pushing the U.S. to embrace the Trans Pacific Partnership.

While the negotiations could face a bumpy road, Japan and the U.S. are headed for a new round of trade talks today in Washington. Economic Revitalization Minister Toshimitsu Motegi will try to avert steep tariffs on car exports and stress the significance of multilateral free trade, with an eye on persuading the U.S. to return to the TPP. The world's third-largest economy will also face demands from U.S. Trade Representative Robert Lighthizer, including a trade deficit reduction and the further opening of Japan's automobile and agriculture markets.

Several world currencies are falling again (Russia, Great Britain and Turkey)

In currency markets, the Russian ruble slid to its lowest level since late 2016 after the Trump administration approved fresh sanctions on the country related to the Skripal nerve-agent poisoning case. The pound skidded the most against the greenback in almost a year as fears grew about the possibility of "no Brexit deal," while Turkey's lira tumbled 3% as the dispute between Ankara and Washington continued despite high-level meetings.

Two of the remaining Axis of Evil countries are in the news. Iran is reaching out to North Korea for moral support concerning U.S sanctions.

As the U.S. seeks to rein in their nuclear programs, Iranian President Hassan Rouhani told North Korea's foreign minister that the Americans cannot be trusted, adding that Tehran and Pyongyang have "always had close views" on many issues. Supreme Leader Ayatollah Ali Khamenei also said the Islamic Republic had nothing to be concerned about "at all," and that "nobody can do anything."

Elon Musk could be in hot water concerning recent tweets for taking Tesla private.

The SEC is making inquiries into the recent tweets of Elon Musk, which announced plans to take Tesla (NASDAQ:TSLA) private for $420 per share. Several securities attorneys told Reuters that Musk could face investor lawsuits if it was proven he didn't have secure financing at the time of his tweet, and could be in hot water if the statement was aimed at goosing his company's share price.

 

Featured Coins of the Day

Today's emphasis shifts to Draped Bust coinage in GFRC inventory. From a personal perspective, I'm starting to develop a keen appreciation for top quality Draped Bust coinage given the historical significance of that early Federal period. Locating well preserved specimens is an ongoing challenge. Following are several Draped Bust offerings that are strictly original and worthy of an advanced collection.

Quality GFRC Draped Bust Coinage Offerings

1796 LIKERY PCGS EF45 CAC 5C

      1805 B-2 PCGS G06 CAC 25C                                                 1806 B-9 PCGS AU50 CAC 25C 

    

              1806 B-9 PCGS AU50 25C                                                   1803 Small 3 O-104 PCGS EF40 50C           

    

    1806 O-117 PCGS VF35 50C                                                   1807 O-105 PCGS VF30 CAC 50C

    

A sincere thank you for being a loyal Daily Blog reader!

Early August has been a slow sales period and therefore looking forward to a busy sales that kicks off next week once the Philadelphia show is underway.

I will be in the GFRC office the entire day up to 9:00pm....Yes, over 13 hours to go as so many more new consignments to load into the COIN system along with image processing and description writing. Please don't hesitate to call to discuss a potential purchase or post ANA showl consignment. Whitman Baltimore is not that far off and there may be a special GFRC announcement concerning the Whitman Baltimore show.

Wishing everyone a great day in the numismatic neighborhood.

 

 

August 8, 2018

The Long Journey Back to Maine Office

Greetings from the Newark Aiport at 12:00 am August 8 and from the Maine GFRC office. Welcome to another edition of the Daily Blog.

The Long Journey Back to the Maine Office

August 8 12:00 am

26 hours have elapsed since leaving a Shanghai hotel and experiencing the highs and lows of international travel. The journey is worthy of its own Blog edition.

We start this international travel story back in Shanghai and the taxi ride to the Pudong airport. About 10 minutes into the ride, I noticed the driver had covered the meter with an old receipt; the meter was obviously not running. Ok, this should be interesting when arriving at the Pudong airport as he is a rookie driver; how much money will he ask for? Once at airport curb side, he jumps out of the taxi to pull my bags from the trunk and starts explaining the fare in Mandarin. From experience, the fare should be RMB180 to 210 depending on traffic. Today's traffic was light so closer to RMB180. I did not understand or much cared for the payment request and simply gave him RMB200 as the ride was peaceful with decent air conditioning.

Check in was straightforward and the time in the Air China Premier lounge provided an opportunity to write the August 7 Blog. Next came the repositioning to the UA87 departure gate and waiting in the Premier Access Group 1 line. Soon, a cheery Global Service traveler was behind me and we chatted until time to board. He had found a new sleeping pill (Kirkland Sleep Aid - 96 cnt for $6.65 on Amazon) that he claimed worked like a charm and offered me a few for the flight. I accepted and we boarded. Once the boarding pass was scanned, bells went off and it was my lucky day; an upgrade to United First/Business class. It had been five years since flying international business class and I was thrilled to explore the latest amenities of the new Polaris flat bed seat. The flight left on time or close to it. After dinner, quality red wine and one movie, it was time to check out the sleeping pill claim. Yes, one pill worked like a charm and delivered 8 hours of relaxing sleep on a flat bed seat.

All was well until one hour out from Newark. All of a sudden, the expected arrival time starts to increase and the flight map indicated we were in a holding pattern in upstate New York. After our third loop, the pilot explains that New York airports are closed due to thunderstorms and the 777 is running low on fuel; Shanghai to Newark is 14+ hours so not a lot of fuel margin. Our only option is to land in Syracuse to add fuel and then head to Newark. This we did, landing in Syracuse at 7:00pm and then Newark at 8:30pm. The Portland Maine connection has been delayed to 11:15pm so no big deal right? Well, regardless of landing at 8:30am, there are no open international gates therefore the 777 is moved into a holding area for a gate to open. Eventually one does and it is tow in gate. More delays as a Boeing 777 must be carefully towed through tight spaces in Newark Airport's famous alley way terminal structure.

By 9:30pm, we leave the plane and journey through Newark customs and immigration. Customs passage is quick but I'm declaring cash over $10,000 and must file a FinCen; more complications. Then there is baggage pickup and Newark's reputation for unloading UA Priority tagged bags last. This they did as expected! Finally, my bag appears at 10:30pm and it looks bleak to make the Portland connection at the far end of Terminal C plus going through security inspection again. I explain the situation to the immigrantion officer and he lines up a quick recording of the FinCen without checking my bags for the cash in hand. Next step is baggage drop off and seeing if there is any chance of making the connection. Good fortune appears again! The Portland flight is further delayed until 12:05am and I simply stroll to the Air Train and Terminal C.

At 11:30am, there I am standing at the Premier Access Group 1 boarding line at Gate 136 with only one other person behind me. What is going on? The flight arrives and passengers deplane. But no one moves to the boading lines. The reason? The flight is delayed until 1:30am due to lack of a complete flight crew. Great, this provides sufficient time to write the Wednesday morning Blog and I'm probably hitting the sack a tad after 3:30am if the rest of the jouney goes well. Will it? To be continued as we are boarding.

 

August 8 8:00 am

Yes, I'm writing from the Maine GFRC office after catching some decent sleep. I was a memorable journey indeed with a home arrival at 3:40 am and four hours of sleep.

Let's go through some quickly financial news and then publish this Blog edition.

 

Global Financial News

Commodities and interest rates are essentially unchanged to start a Wednesday. Crude oil is quoting at $69/bbl even while gold is at $1220. Bitcoin is down to $6487 and the 10 year U.S Treasury bond yields inched up to 2.97%

Regardless of all the China-U.S. saber rattling and new tariffs, little progress was made in reducing China's trade surplus.

China's exports growth unexpectedly accelerated in July despite fresh American tariffs, as its closely watched surplus with the U.S. dipped only slightly to $28.09B last month from a record $28.97B in June. The two sides have also shown no signs of letting up, with the U.S. finalizing plans overnight to begin collecting 25% tariffs on another $16B in Chinese goods - across 279 product lines - on Aug. 23.

Saudia Arabia and Canada relations are strained after Canada is becoming involved in Saudi Arabia's civil society matters.

Saudi Arabia has stopped all medical treatment programs in Canada and is coordinating for the transfer of all Saudi patients from Canadian hospitals to facilities outside the country. Riyadh froze new trade and investment with the North American nation and expelled the Canadian ambassador on Monday, in a stern gesture of retaliation after Ottawa urged it to free arrested civil society activists.

Is Tesla being taken private by Elan Musk?

Tesla had its busiest trading day since 2014 yesterday after Elon Musk tweeted plans to take the company private. More than 30M shares changed hands, despite trading being halted for more than 90 minutes. "The structure envisioned for Tesla is similar in many ways to the SpaceX structure," which has raised funding around every six months for the past three years, but many are still pondering the legalities.

Bitcoin's recent rally and now pull back result from speculation concerning the SEC's approval of an Bitcoin ETF.

Things were looking up for bitcoin in July, with the crypto reaching as high as $8,496, but its latest descent has seen the digital currency fall overnight to under $6,500. The move was accelerated after the SEC pushed back an eagerly-awaited decision on the SolidX Bitcoin ETF (XBTC), sponsored by SolidX Management with marketing assistance from Van Eck Securities. A verdict is now expected by the end of September.

 

Wrapping Up the Blog

Let's end this Blog edition here as time for a shower, unpacking from the China trip and then starting up the GFRC office including the backlog of orders requiring shipment.

Thanks for checking in. Tomorrow's edition will be more coin centric.

 

 

 

August 7, 2018

Mt. View Collection Consignment - 1870-CC to 1873-CC Seated Quarter Preview!

Greetings from the Air China Premier Lounge at the Pudong International airport. Don't I love solid internet bandwidth to get GFRC website updates done!

I must admit that the long flights to/from Shanghai are starting to get old. Though I enjoy visiting with GFRC agent Harry Zhang and local collecting friends plus hanging out in Shanghai's Puxi district, jetlag is an ongoing issue that can wear a person out. For a short trip, it is best not to convert time zones which makes for some odd sleeping times and attempting to remain on U.S. east coast schedule while on the other side of the planet. Hopefully, the strategy will work once arriving back to Maine at close to midnight.

Returning Phone Calls and Voice Messages on Tuesday Evening

While in China, I will turn off my U.S. cellphone as a general practice to avoid AT&T roaming charges. When powering up the phone for quick text message checks, there were at least six missed calls and five voice message. I apologize for not returning those calls promptly but international calling rates are simply too steep. Once I arrive into Newark at 6:00 pm and clear customs, there will be sufficient time before the connecting Portland Maine flight to catch up on voice messages and hopefully work through the missed calls. Your understanding is appreciated.

 

Mt. View Collection Consignment - Key Carson City Dates - All CAC Approved

I'm pleased to be showcasing the beginning of the Mt. View Collection consignment in today's Blog. Following are the key Carson City dates that are on numerous collector want lists and a major impediment for completing a Liberty Seated quarter date and mintmark set. Please forgive the lack of cropped images as the newest laptop will not run Microsoft Picture It. Once back in the GFRC Maine office, these images will be properly cropped.

All four dates, 1870-CC through 1873-CC are CAC approved and feature nothing but honest wear. There are great values or filler dates and should not last long once placed in the Philadelphia ANA show case.....if they last that long in GFRC's inventory. Sorry but there are already two FRoR on the 1872-CC.

Mt View Collection Consignment Preview - Key Carson City Dates

1870-CC PCGS AG03 CAC 25C                                                   1871-CC PCGS FA02 CAC 25C

    

1872-CC PCGS G06 CAC 25C                                                   1873-CC PCGS FA02 CAC 25C

    

 

Net Priced Boxes at Philadelphia ANA Show

Dan White sent along a reminder concerning addition GFRC inventory being available behind the table at the Philadelphia ANA show. Yes, GFRC will have two double row slab boxes of "net priced" inventory that can be reviewed on demand. This net priced inventory is either aged GFRC coins that should find a new home at lower prices or are consigned coins with substantial pricing discounts. Starting at the Central Ohio Numismatic Association (CONA) show followed by the October Whitman Baltimore show, GFRC will have a least one case of net priced stickered coins. The goal is straightforward..... finding homes for aging consigned items.

 

Global Financial News

Global markets remain on edge as the China-U.S trade war escalates with no end in sight. Commodity prices continue to fluctuate with the new week bringing crude oil back to $69.50/bbl and gold inching down to $1218. After a bump into the $8000 range, Bitcoin is now back below the $7000 level at $6965. Finally the 10 year U.S Treasury yield is steady at 2.95%

Following are a few Seeking Alpha headlines from Monday's edition. Sorry but this Blog is being written on Monday evening United States time.

The Shanghai Composite continues to fall as the trade war escalates.

Chinese stocks started the week in negative territory, with the Shanghai Composite falling 1.3% on the next round of tariff threats in the escalating Sino-U.S. trade war. Considering still-tight liquidity, the benchmark index could fall below 2,638 points, seen as a key psychological level since early 2016. Over the weekend, China accused the U.S. of blackmail and said its most recent retaliatory tariffs on $60B of U.S. goods showed rational restraint.

One of the core trade issues being challenge by the Trump administration is existing tariffs on United States exports by trading partners designed to protect internal industries and farmers.

Countries espousing free trade in response to U.S. trade war threats should just drop all their own tariffs to zero - but they won't, St. Louis Fed President James Bullard told CNBC. "Why is that not going happen? Because they're protecting their industries... So, they're protectionist." He also said that changes in the bond market, and the yield curve, are the main focus point for investors at the moment.

The Brexit saga with the EU continues.....

Britain is odds-on to crash out of the EU without a deal, U.K. Trade Secretary Liam Fox warned The Sunday Times, putting the chances of a no deal departure at "60-40." Divorce talks have stalled as the bloc accused Britain of failing to make realistic proposals, while Theresa May's Conservative government is split over how close an economic relationship it should seek with the EU.

 

Featured Coins of the Day

1839 No Drapery and Drapery Seated halves are popular inventory items due to first year of issue status, type coins and also required for a date and mintmark set. I'm constantly on the prowl for top quality examples and current inventory status sees five examples to consider.

1839 No Drapery and Drapery Liberty Seated Halves

1839 Drapery WB-7 PCGS MS64 CAC

      1839 No Drapery WB-4 PCGS AU50                                        1839 No Drapery WB-2 PCGS EF45 CAC

    

              1839 Drapery PCGS AU55+ CAC                                                      1839 Drapery PCGS VF35                     

    

The next Blog edition should be published at some point on Wednesday morning. Thanks for checking in on a regular basis!    

 

 

 

August 5-6, 2018

Mission Accomplished in Shanghai - Returning Home

Greetings from Shanghai as the GFRC sales trip has accomplished its mission. Attention shifts to Tuesday's return flights.

My apology for the lack of a Blog on August 5 as I simply decided to take a day off from writing and having to stroll to the Starbucks by the Ritz Carlton on Nanjing West Rd for suitable internet connection. Now I am back with the Monday morning Blog. A few readers emailed to indicate that they missed their daily reading.....much appreciated!

So what is Shanghai weather like if you might ask? The best comparison is probably Baltimore in August with high humidity and temperatures in the low to mid 90s. Sunday brought bright sunshine with blue skies and light clouds but these conditions are just too hot for strolling around the city. Exiting hotel air conditioning was immediately unpleasant due to instant sweating under the bright sun. Cloud cover arrived on Monday and made for an enjoyable walk to XinTianDi and lunch at Kabbs, the iconic American bistro. Now I'm back at the hotel and writing another edition of the Blog.

I'm off to the Pudong airport on Tuesday morning for return flight to U.S. Hopefully there will be some open middle seats in Economy Plus to stretch out and gain a few hours of sleep.

Now that Shanghai sales business trip is completed, attention shifts to the upcoming Philadelphia ANA show and the much anticipated Christmas in August sales event. But before I discuss those topics, here is some thoughtful advice from Seth Godin.

The wrong bus

Your first mistake was getting on the A53 bus, the one that goes crosstown instead of to where you're going.

Mistakes like this happen all the time.

The big mistake, though, the one that will cost you, is staying on that bus.

I know it wasn't easy to get on the bus. I know you got a seat. I know it's getting dark outside. But you're on the wrong bus, and staying on the wrong bus won't make it the right bus.

If you really want to get where you set out to go, you're going to have to get off the wrong bus.

In the case of GFRC, I've experimented with a host of product lines, marketing approaches, and coin shows. Some have turned out to be the wrong bus and therefore accepting unacceptable results and moving on is paramount for growing a successful business.

 

Philadelphia ANA World's Fair of Money

GFRC has five days to recover from the Shanghai trip before traveling to Philadelphia on August 13. I plan to arrive to Philadelphia during early afternoon hours and already have an appointment with my favorite wholesaler for viewing his fresh inventory.

As a final reminder, Gerry Fortin and W. David Perkins will be located at double corner tables 741 and 840 with 8 cases each. GFRC will have over 700 coins across all product lines with most being $250 and up. Finding GFRC will be easy. Just walk through the entrance and go straight ahead past Heritage/Stacks, then US Coins/Minshull Trading and finally by DLRC to arrive at table locations 741/840 featuring 16 cases of the broadest array of early silver type and US gold on the bourse floor. We hope you come visit us first to enjoy our important offerings.

If you are attending the Philly ANA show and wish to view specific coins on the GFRC price list, then please send me a email requesting those coins. GFRC presently has nearly 1100 slabbed coins in inventory therefore 1/3 of the coins will be staying behind in the Maine office. Please don't feel that a request to view certain coins at the Philly show is a purchase commitment. I need your help for deciding which inventory items to bring!

GFRC will not be bringing raw coins to the Philly show other than for grading submission. Again, please make an advanced request to view raw coins in inventory.

In case you missed this bourse map posting, in a prior Blog, here it is once again.

GFRC at Corner Table 840 - Philadelphia ANA

 

Christmas In August Sale - August 24-26

The week following the Philadelphia ANA show brings the GFRC Christmas in August sale. For those Daily Blog readers that are new, please allow me to explain how the three GFRC sales events are conducted. The other two are Black Friday Weekend and St. Patrick's Day sales.

GFRC's special sales are an opportunity for consignors to discount their offerings by a minimum of 8% to participate in the sale. Consignors are free to discount as much as they wish but 8% is the minimum threshold for having coins listed in the Christmas in August price list.

Starting around August 17, a special banner will appear at the top of the GFRC For Sale price list page and the Daily Blog. That banner will contain a countdown clock. Once the clock reaches 0:00, then the banner becomes a link to a special price list that is entirely separate from regular GFRC price lists. Clicking on the link initiates the download of the special price list with tabs for individual product lines. Customers can scroll the various tabs searching for that special coin that is now bargain priced. Shopping cart icons will be enabled and available for triggering an email for purchasing the coin.

The Christmas in August sale starts on August 24 midnight and ends on August 26 at 9:00pm. Each sale typically has 600 or so coins being offered at various discounted prices. Once the sale closes on August 26, the special banner and link disappear with unsold coins being available a regular prices in effect before the sale.

GFRC sales events are cash and carry with no lay-a-way provisions. If purchasing multiple coins and needing 30 days to pay off the entire purchased lot, then I'm sure mutually agreeable terms can be worked out.

Consignor pricing reductions must be sent to GFRC by noon time August 21! Please use a special email entitled Christmas in August pricing reduction instructions. Starting August 22, I will load all the pricing reductions in the COIN system and send a confirmation email. If you don't hear from me by noon August 23, then pricing reduction instructions may have been missed. This happens when price reduction instructions are given as part of an email that includes multiple topics and is not obvious to the price reduction topic when reviewing email Inbox.

 

Featured Coins of the Day

Today's Featured Coins of the Day segment focuses on the Burchs Creek Collection consignment and his residual Copper half cents, Capped Bust halves and Liberty Seated halves in inventory. All of the remaining offerings are either in NGC holders, ANACS old white holders or raw. The raw pieces will be submitted to PCGS at the Philadelphia show and we are thinking through the strategy for the ANACS holders coins; wait until Christmas in August sale or crack out and submit to PCGS?

The Burchs Creek Collection consignor is very motived to sell the balance of these coins for a personal reason. Therefore reasonable offers are solicited and will most likely be accepted. Now is the time to make a move on the following pieces if looking for quality coins at a special discount.

Burchs Creek Collection Consignment - Please Make Offers!

  1804 C-13 NGC MS62BN 1/2C                                                 1828 13 Stars NGC MS64RB 1/2C

    

              1828 O-118 ANACS AU53 OWH 50C                                         1832 O-102 ANACS AU53 OWH 50C           

    

             1832 O-102 ANACS AU58 OWH 50C                                             1836 O-102 ANACS AU50 OWH 50C            

    

 1858 WB-101 ANACS AU58 OWH 50C                                                 1866 ANACS EF45 OWH 50C         

    

 

That is a wrap for today's Blog edition. Time for dinner at the Shanghai Mall followed by a stroll to Starbucks.

Please check back for the last Blog from China on Tuesday morning. I'm presently not sure of the topics but will post something to share. Thanks for your ongoing support and GFRC purchases.

 

 

August 4, 2018

Port Matilda Collection in Focus!

Greetings once again from Shanghai as it is already Saturday evening and preparing for another customer meeting, purchase transfer and dinner.

Today's Blog features the long overdue Port Matilda Collection consignment and the part 2 presentation of CAC approved Capped Bust and Seated halves. This following lot screams originality coupled with eye appeal for those who love their silver Federal coins with crusty gray and blue surfaces. Prices are available and if interested, please email me for a quote. I hope to have these Part 2 offerings posted to the price list in the next 48 hours.

As the Port Matilda consignor stated to me.....letting go of these Capped Bust halves was a difficult decision. I believe the reason is obvious and an astute collector might just want to purchase most of the lot as a starting point for a Capped Bust half dollar date set.

Port Matilda Collection Consignment Part 2 - CAC Approved Halves

1810 PCGS EF40 CAC                                                   1811 Sm 8 PCGS AU50 CAC

    

1811 Lg 8 PCGS EF45 CAC                      1814 E/A PCGS VF25 CAC                        1818 PCGS EF40 CAC

        

1829 PCGS EF45 CAC                           1860-O PCGS VF30 CAC     

    

 

Featured Coins of the Day

Today's Featured Coins of the Day segment is a continuation of Port Matilda offerings. The consignor has also ordered pricing reductions on selected items prior to the Philadelphia ANA coin show. Following are those items and the new asking prices.

1811 Small 5 PCGS EF40 $5 - $6095

              1818 B-2 PCGS VF25 CAC 25C - $795                                         1819 B-3 PCGS VF30 CAC 25C - $945          

    

             1851-O PCGS VF10 CAC 25C - $820                                                1870 PCGS AU55 $1 - $1170                       

    

Thank you for stopping by at the Blog on a Saturday morning and hope that you might visit the price lists towards a potential purchase.  

Time in Shanghai is flying with just two days left before heading to the Pudong airport on Tuesday morning for returning flights. I'm monitoring emails several times per day and trying to respond quickly to new orders.

 

 

August 2, 2018

GFRC in Shanghai

Greetings from Shanghai China and welcome to a delayed edition of the Daily Blog.

Flying to China takes about 14+ hours from either Newark or Chicago for those who may be interested. Wednesday's Newark UA86 flight was full without open middle seats in Economy Plus. As a result, there was little room to retrieve the laptop and process Mountain View Collection image. Rather it was a four movie flight and about one hour of sleep. On a positive note, Shanghai flight provided chance to catch up on the latest movies plus viewing an old classic; 2001 Space Odyssey. After arriving to Shanghai on time, Thursday late afternoon brought a hotel visit by Harry Zhang to retrieve four months of Shanghai customer coin purchases.

GFRC Consignment News

My requests for better date and/or higher value consignments, prior to Philadelphia ANA, have been well received!

Incremental consignment shipments are being transferred this week from Osprey, Tenafly and Washington State Collection consignors along with a new GFRC customer deciding it was time to divest duplicates.

Here are some of the upcoming consignments to consider. All will be processed and priced with the goal of being in Philadelphia ANA inventory. For those items receiving FRoR interest, I will do my best to get these photographed and quoted but will not be taking to price list until after the ANA show.

Tenafly Collection Consignment

The Tenafly Collection consignment is another case of collecting goal redirection. All of the following offerings were purchased from GFRC during 2016 and carry Choice quality ratings. CAC approval dominates this lot. Hurry on these pieces as an important opportunity.

Liberty Seated 10c: 1854-O NGC AU 58 CAC; 1867-S 10c PCGS VF 30 CAC

Liberty Seated 50c: 1842 Med Date Eric Newman PCGS AU 53 CAC; 1846 Med Date Eric Newman PCGS AU 55 CAC; 1846 Tall Date NGC AU 58 CAC; 1846-O Tall Date PCGS XF 45; 1875 NGC XF 40 CAC.

Washington State Collection

The Washington State Collection consignor continues to clean out his bank box and sent along the following $20 double eagles.

$20 Liberty Gold: 1878-S NGC MS61; 1897 PCGS MS63

$20 St. Gauden: 1908 PCGS MS64; 1928 NGC MS65

Osprey Collection

The non gold portion of the Osprey Collection consignment is the balance of small denomination items from a PCGS blue box of 20 collection. There are important highlights to consider including an 1830 Capped Bust half dime graded PCGS MS63 Gold CAC and 1880 Seated quarter residing in PCGS MS67+ CAC holder. The United States gold offerings are nicely spread across all denominations.

Capped Bust 5c: 1830 PCGS MS63 Gold CAC

Liberty Seated 5c: 1844 PCGS AU58 CAC

Liberty Seated 10c: 1859 NGC MS65 CAC

Liberty Seated 25c: 1880 PCGS MS67+ CAC

Bust 50C: 1806 PCGS VF35 CAC; 1828 NGC AU58 CAC; 1839 RE NGC AU58 CAC

$1 Gold: 1849 Closed Wreath PCGS MS61; 1851 PCGS AU55; 1855 PCGS AU53; 1858 PCGS AU58 CAC

Classic Head $2.5 Gold: 1836 Script 8 PCGS MS63

$2.5 Gold: 1846-O PCGS AU58 CAC; 1851 PCGS EF40 CAC; 1855 PCGS AU53; 1858 PCGS AU58 CAC

$3 Gold: 1874 PCGS MS61

$5 Gold: 1909 PCGS MS63+ CAC; 1913 PCGS MS63 CAC

$10 Gold: PCGS MS62+

$20 Gold: 1893-S PCGS MS62+ CAC; 1896 PCGS MS63+


Global Financial News

Looking at commodity price movement during the past two days, we find crude oil holding the $69/bbl level while gold has dipped again to $1216/oz. Bitcoin continues to fall at $7344. The U.S. 10 year bond yield is steady at 2.98%

Trade and sanctions are the top Seeking Alpha headlines of the day. We open with statistics concerning China equity market and continuing investor fears due to trade tariffs.

An intensifying trade spat with the U.S. just led China to cede its four-year title as the world's second-largest stock market to Japan. After a Thursday slump, Chinese equities were valued at US$6.09T, losing out to Japan's $6.17T, while the U.S. remains the world's largest with a market cap of $31T. The Shanghai Composite Index has lost more than 16% YTD to be among the world's worst performers, while the yuan has fallen 5.3% against the dollar.

China is attempting to reassure equity investors that Beijing central government will step in to protect the economy.

Amid the increasing "external uncertainties," China is seeking more ways to support its economy. The State Council Financial Stability and Development Commission, headed by Vice Premier Liu He, said more attention needs to be paid to the "transmission" of monetary policy. "China's economy is still in a period of transition between new and old drivers... These issues need to be addressed actively, steadily and more accurately."

No surprise that the U.S. has been unable to convince China to cut Iranian oil imports.

The U.S. has reportedly been unable to persuade China to cut Iranian oil imports, although Beijing has agreed not to ramp up purchases of Iranian crude. China is the world's top oil buyer and Tehran’s No. 1 customer. The news comes as Iran begins major naval exercises near the Strait of Hormuz, a major waterway the Islamic Republic has threatened to close if the U.S. stopped it from exporting.


Wrapping Up the Blog

Ok, let's end the blog here as a customer dinner appointment is at hand. Thank you for checking in!

 

 

 

 

August 1, 2018

LSCC E-Gobrecht Arrives to Start a Busy August

Greetings from the Newark airport and welcome to the Daily Blog. We are now officially in August, a busy coin show month.

Today's Blog is published late due to 6:00 am flight originating in Portland Maine. The day started early, at 3:00 am, as I'm always one to be proactive and arrive to airports well before departures times. This results in a low stress approach to traveling and after the past few days in the GFRC office, a quiet set of flights to Shanghai is warranted.

LSCC August 2018 E-Gobrecht Arrives

Like clockwork, Editor Bill Bugert published the August 2018 edition of the LSCC's E-Gobrecht on Tuesday evening. Below is the headline page which discusses happenings at the LSCC Annual Meeting to be held on Thursday August 16th at 9:00am. We are hoping for a substantial turn out given the east coast location. Simply click here or on the image to download the PDF file.

The balance of the edition features our favorite monthly columns and ANA show delivery discussions for the Premier LSCC Membership medals. A substantial number of Philadelphia ANA attendees have opted to take medal delivery at the show.

 

Port Matilda Collection Consignment Status

There had been high hopes that today's Blog would contain Part 2 of the consignment. Those hopes were overwhelmed by the reality of more orders on Tuesday, last minute packing and shipping plus generating invoices for Shanghai purchases, packing luggage and heading to bed at a reasonable time given 3:00 am starting time.

On a positive note, all Part 1 consigned items are posted to the price list and warrant your attention. I will be working on the Part 2 images during travels and should have these posted in an upcoming Blog edition from Shanghai.

 

New Osprey Collection Consignment

My good friend and table assistant, Dan White, called on Tuesday to check in on Philadelphia ANA and Fall Baltimore coin show plans. During the discussion, he offered a new consignment that will be expressed shipped to the GFRC office this week. Dan is rechanneling his PCGS box of 20 collection in a substantial Seated Dollar collection. GFRC will be handling the balance of his smaller denominations, from the box, along with more United States gold coins. His lot will be itemized in an upcoming Blog as there is insufficient time this morning.

 

Global Financial News

Global markets are active with most flashing red this morning. In terms of commodities, there is also movement. Crude oil dropped to $68/bbl while spot gold gained ground to $1232/oz. Bitcoin is once again sliding and quickly down to $7557. The 10 year Treasury yield is just shy of 3.0%.

As for Seeking Alpha headlines, we open with another experiment with guaranteed basic income being terminated. This time it is Ontario, Canada.

Calling it expensive and unsustainable, Ontario's new government is scrapping the province's basic income pilot, which began in April 2017 and was set to last three years. The decision brings an end to North America's first government-backed trial of the idea in decades following a move by Finland to terminate Europe's first government-backed basic income experiment.

The U.S. and China trade war may be impacting China exports already.

Conflicting signs over the state of U.S.-China trade relations are pulling markets from both directions. The two countries are seeking to resume talks to defuse a tariff battle, according to Bloomberg, although later reports suggested the Trump administration plans to propose tariffs of 25% on $200B of imported Chinese goods after initially setting them at 10%. The Caixin-Markit PMI overnight also showed China's manufacturing sector growing at its slowest pace in eight months in July, dragged down by declining export orders.

The new Mexican President is quickly working to resolve open NAFTA issue towards getting a deal done.

Mexican President-elect Andres Manuel Lopez Obrador expects there to be a revised NAFTA deal in the coming days as negotiators iron out dispute resolution, auto sector rules and the so-called "sunset clause," but so far Canada has yet to participate in the summertime round of talks. "My hope is that we will before very long have a conclusion with respect to Mexico and that as a result of that, Canada will come in and begin to compromise," said U.S. trade czar Robert Lighthizer.

Pakistan is becoming a debtor of China and reaching out to the IMF for bailout funding. Mike Pompeo is questioning this logic as Chinese bond holders should be the party to take the haircuts for bad investments.

Pakistan's growing debt to China, as part of the "Belt and Road" initiative, is emerging as a point of contention with the U.S. as the South Asian nation prepares to possibly seek an international financial bailout in the coming weeks. "There's no rationale for IMF tax dollars - and associated with that, American dollars that are part of the IMF funding - for those to go to bail out Chinese bondholders or - or China itself," Secretary of State Mike Pompeo told CNBC.

 

Wrapping up the Blog

My flight boards in approximately 45 minutes so best to wrap up at this point. The next Blog edition will be published later this week.

Thanks for checking in and please don't be bashful with orders. I will be checking emails constantly while in Shanghai and orders will be stage for processing on August 8.

If considering a new consignment, then I'm all ears......

 

 

 

July 31, 2018

$500+ Consignments Requested for Philly ANA

Greetings and welcome to the Daily Blog on the final day of July.

As a reminder, I will be constantly reading emails while traveling through August 7. Orders will be placed on hold and shipped starting August 8. Consignment proposals are most welcomed with immediate transfer to the Maine office suggested while I'm traveling.

Focus shifts towards travel preparations after a busy day in the GFRC office on Monday. Two substantial orders were closed that amounted to a single day sales event in the low five figures. That and a visit to the doctor, for my annual physical, pretty much consumed the day and left little time to post the new Port Matilda Collection offerings and completing image preparations for the Part 2 Port Matilda halves.

I'm pleased to report being is excellent overall health. Those daily health walks, with 5 lbs weights, are working nicely. My blood pressure was a comforting 128/76 with no meds whatsoever.

Speaking of those 5 lbs weights, I was joking with Dr. Murray that they have multiple benefits when walking on rural country roads. Not only are they important for building and sustaining upper body mass, but also a safety device...... Safety device you might ask? Absolutely, as I've noticed that drivers will give me more walking space with the 5 lbs weights in hand than without. Is it respect for the workout intensity or do drivers wish to minimize the chance of a 5 lbs weight flying through their windshield? Something to think about......

 

Is the 4.1% Q2 GDP Economy Impacting the Numismatic Market?

Based on July sales results, there is a growing confidence that the balance of 2018 will be a strong sales timeframe for the numismatic market. Early type, meaning Draped Bust, Capped Bust and Liberty Seated coinage, is presently in strong demand. Those dealers, who can source the highest quality inventory and can sell at market competitive prices, will do well during the balance of 2018. Unfortunately, United States gold remains subdued due to a collector mindset issue; differentiating gold bullion price from numismatic price. No one can be faulted here but United States gold demand, except for coins priced over $5000, is impacted by fluctuations in spot gold prices.

New collectors, with adequate disposable incomes, are entering the market and embracing early type. Existing collectors are raising their game and seeking to complete long standing set project. Of course, the key dates are always the last to be sourced. Overall, there is a sense that strong economic performance will translate into improved sales for the numismatic hobby. Locating supplies of original and problem free types coins will be a serious GFRC challenge through the end of year.

 

GFRC Close to $3,000,000 "Payments to Consignor" Milestone

At the beginning of 2018, I had stated a year ending goal of reaching the $3,000,000 threshold for accumulated consignor payments since launching GFRC. After yesterday's sales event, that number stands at about $2,940,000 and can viewed at the Consign link. Based on current sales rate, this goal will likely be achieved in the next 30 days. To ensure that the goal is attained in August, I would love to handle a few more higher priced consigments going into the Philadelphia ANA show in just two week. Please see the next topic.

 

$500+ Consignments Requested for Philly ANA

You will note that today's headline is requesting more consignments for the Philadelphia ANA show. My gut feel is that the Philly ANA show will be a strong event and well attendeed by a host of advanced collectors. Demand will be present and the challenge will be supplying that demand. This presents an opportunity for those wishing to divest more of their current holdings on a low risk and quick access to market basis. Consigning to GFRC is a low risk proposition since consignors control asking prices and can request coins back after four months if not sold. Quick access means your coins are rapidly added to GFRC inventory and immediately available for sale online and at the major national coin shows. Real time Daily Blog marketing is unique in the numismatic industry and is a competitive sales enabler. Your coins are not staged for weekly auctions, or are not part of a broader dealer inventory with no differentiation. At GFRC, every consignor is branded and marketed along with their coins. Participation level is left up to the consignor. As was the case with the Coney Collection of Contemporary Counterfeits, the consignor's opening summary was instrumental in stimulating broad based sales and nearly 70% of the offering being sold within a few days.

Since there is a small time window between returning from Shanghai and traveling to Philadelphia, near term consignments must be priced at a minimum of $500/coin or more range and will be given priority once back from Shanghai trip. Adding incremental better dates and higher grade type coins to inventory prior to ANA is a current priority. For larger consigned lots with coins priced in the $200 to $500 range, those will be processed after the ANA show simply due to available time.

 

Global Financial News

We open with a dull day for commodities, interest rates and overall Seeking Alpha headlines. Crude oil has inched up to $69.70 while gold is hanging in there at $1228/oz. Bitcoin dropped to $7946 and the 10 year U.S Treasury yield is down ever so slightly at 2.95%

The EU economy is flat to slightly down in Q2 as compared to the 4.1% growth in the United States. Interest rate policy differences between the trans Atlantic trading partners deserves watching.

The eurozone's economy slowed further in the three months through June, expanding at an annualized rate of 1.4%. That contrasts heavily with the 4.1% GDP growth recorded in the U.S., likely widening the gap between the interest rates set by the Fed and ECB. Eurozone inflation meanwhile rose by 2.1% in the year to July, though that was largely driven by stronger energy prices.

Australia, Japan and the United States are building a partnership to counter China's Belt and Road Initiative throughout Asia.

Forming a trilateral partnership, Australia and Japan have joined the U.S. in a push to invest in infrastructure projects in the Indo-Pacific region as China spends billions of dollars on its Belt and Road initiative across Asia. The investments will include energy, transportation, tourism and technology infrastructure, with the governments aiming to attract private capital to projects.

 

Featured Coins of the Day

Liberty Seated dimes were the dominant GFRC product line during July with nearly $65,000 in sales. These results were driven by a number of new consignments plus the sale of existing inventory. Following are more great Seated dime in inventory seeking new homes.

      1837 Lg Date F-101c PCGS AU55                                                 1841 F-107a PCGS MS64          

    

       1853 NA F-101 NGC MS64 Ahwash Plate Coin                                           1853-O F-103 PCGS AU55                        

    

            1859 F-107 PCGS MS66                                                   1875-S BW F-101 PCGS MS62 OGH

    

 

Thanks for checking in at the Blog!

I should have the Port Matilda Collection Part 2 halves posted in the Blog as a client gallery by end of day. The next Blog edition will probably be written in the Newark airport on Wednesday morning before the long Shanghai flight. This posting will arrive around 10:00am or earlier. Afterwards, the Blog will originate from Shanghai and will be unpredictable.

Don't be bashful with orders and consignment proposals as I will be constantly monitoring emails while in China. New orders will ship starting on August 8.

 

 

 

July 30, 2018

Port Matilda Collection Part 1 Consignment Arrives

Greetings and welcome to the Daily Blog as July 2018 comes to a close.

As mentioned previously in the Blog, August brings non stop travels and GFRC business activities that ramp down during the Labor Day weekend at the Central Ohio show. Tomorrow is preparation day for the long flight to Shanghai on Wednesday and then immediately conducting business on Thursday evening after arrival. There will be a regular Blog edition on Tuesday and then afterwards, Blog postings will be a bit unpredicable as the Shanghai hotel bandwidth is overwhelmed by cellphone wi-fi connectivity.

Coin World Joins Crowded Online Marketplace Field

The August Coin World monthly magazine arrived this weekend with its redesigned format and increased content. There are three notable items in the issue.

- GFRC's 1/4 page ad was moved way back to page 76 as a result of the new format. Large full page advertisers now dominate the first 30 pages. It may be time to re-evaluate this marketing approach given cost and potential payback.

- John Frost's research on William Barber, as published in the recent Gobrecht Journal, is discussed by Paul Gilkes starting on page 44. Paul does an excellent job with this article.

- Finally, Coin World announces the launch of their Coin World Marketplace and adds another online coin portal to the already crowded market space. The fee structure and design is similar to Amazon but the targeted competitor is probably eBay. Coin World stresses their Escrow Checkout payment method as being a differentiating benefit for buyers. Coin World will hold customer payments for 7 days while the seller ships coin and customer enters the review and acceptance period. Once customer accepts the coin, then Coin World releases funds to the seller. Sellers must still provide images and write descriptions. Coin World's cut for the listing and Escrow service processing is between 5-6% depending on the selected plan that includes annual and monthly fees.

What are my initial thoughts on the Coin World Marketplace?

It does appear that Coin World is targeting the eBay marketplace for numismatic sales. If one adds direct sales fees plus listing fees and shipping fees (responsibility of the seller), there is not much differentiation other than the escrow program. Smaller dealers will have a new alternative for listing coins on a fixed price list basis in direct competition with eBay stores. Well established dealers, with existing websites, will probably not see this development as a new marketing opportunity. Larger dealers already utilize Collectors Universe's Collectors Corner with participation requiring becoming a CCE dealer at a monthly subscription fee. GFRC will be seriously looking at Collectors Corner during the slower September timeframe.

How will GFRC reaction to this development?

Frankly, a 5-6% transaction fee would be devastating to the present GFRC business model and makes no sense. Therefore it is business as usual with the current website and services. It one steps back for a moment and considers the GFRC business model, cost management is paramount. Then there is the fact that GFRC ships coins ahead of payment to reliable customers rather than needing another layer of administrative costs for escrow payment management.

I already have another idea for the next GFRC consignment service upgrade that will rely on more built in automation in the COIN system. A request for quote will be issued to Matt Yamatin this week for sizing the amount of programming effort. This new concept, when implemented, would be another ground breaking service parameter that would separate GFRC from its larger competitors. Stay tuned.....

 

Port Matilda Collection Consignment Arrives!

Sunday's attention shifted to the Port Matilda Collection consignment as I wish to have all the image processing and coins posted before leaving for China.

Following is Part 1 of the consignment which includes all offerings other than Capped Bust and Liberty Seated halves. These will see image processing attention today and should be ready by late evening as a Blog preview.

This latest Port Matilda Collection consignment has considerable depth and variety. There is an eye appealing lot of mint state and proof Indian cents to consider. The 1893 and 1911 PCGS AU58 Barber quarters are not rare pieces but definitely choice for the grade and will be fairly priced. The Seated and Trade dollars are notable highlights with a choice original 1846 CAC approved dollar, a choice 1853 dollar with lovely gun metal gray-blue patina and finally, a crusty gray 1875-CC Trade dollar with CAC approval. United States gold is also included with a sweet 1857-O PCGS EF45 CAC quarter eagle and important 1851-O PCGS AU50 CAC eagle.

So please have a look and enjoy the newest offerings from Port Matilda.

Port Matilda Collection Part 1 Consignment - Everything But Halves!

1853 PCGS AU50 $1

1875-CC PCGS EF40 CAC $1                                                   1851-O PCGS AU50 CAC G$10

    

1865 PCGS MS63RB CAC 1C                   1883 PCGS MS64RB CAC 1C                     1887 PCGS PR64BN $1     

        

1897 PCGS PR64RB 1C                               1898 PCGS MS64RB 1C                              1904 PCGS PR64RB 1C 

        

1907 PCGS MS65RB 1C                               1893 PCGS AU58 25C                              1911 PCGS AU58 25C 

        

1846 PCGS EF45 CAC $1                       1857-O PCGS EF45 CAC G$2.5                        1912 PCGS MS62 G$10

        

 

Global Financial News

As we start the new week, crude oil and spot gold are moving upward. Crude is once again approaching the $70/bbl threshold at $69.57 while gold is quoting at $1230. Bitcoin is holding steady at $8144 as is the U.S. 10 year Treasury bond at 2.97%

Let's have a look at Seeking Alpha headlines....

The United States economy is gaining momentum while most cable and online media networks down playing the 4.1% Q2 GDP numbers. Some economists are stating that this type of growth is unsustainable. Treasury Secretary, Steven Mnuchin was interviewed on FOX and is most positive about future economic growth. Only time will tell but I'm on the side of optimism.

"I don't think this is a one- or two-year phenomenon. I think we definitely are in a period of four or five years of sustained 3% growth at least," Treasury Secretary Steven Mnuchin told Fox News Sunday. The U.S. economy accelerated in the second quarter, according to figures released Friday, with GDP growth expanding at a 4.1% clip to record its fastest pace since 2014.

Trade tariffs are spilling over into the agricultural market. Let's not forget that the EU already has strict barriers against United States agricultural products as does Japan. These facts are not often mentioned in high level talking points and reporting.

Agriculture ministers from the G20 countries criticized protectionism in a joint statement on Saturday, and vowed to reform WTO rules, but did not detail what steps they would take to improve the food trade system. Agricultural markets have been rocked by recent tensions, with U.S. farmers expected to take an estimated $11B hit due to China's retaliatory tariffs. The Trump administration has said it would pay up to $12B to help them weather the trade war.

Iran's rial currency is collapsing in advance of reimposed United States sanctions.

Iran's currency hit a historic low of 100,000 rials to the dollar over the weekend. The collapse, which has seen the currency lose half its value in just four months, was encouraged by a deepening economic crisis and the imminent return of full U.S. sanctions. The penalties will be reimposed in two stages on Aug. 6 and Nov. 4, forcing many foreign firms to sever business ties with Tehran.

Pakistan's economy is not healthy either with a foreign reserve crisis.

In what would be its 13th IMF bailout, Pakistan is reportedly drawing up plans to seek up to $12B - its largest ever rescue from the fund - with senior finance officials set to present the option to Imran Khan soon after he takes office. Any loan from the IMF, which many believe is necessary to resolve the country’s escalating foreign reserves crisis, would see the IMF impose restrictions on public spending.

And finally, opportunistic China is approaching Great Britain for trade deals.

China has offered Britain talks on a post-Brexit free trade deal as it remains mired in an increasingly bitter trade war with Washington. The overture came as British Foreign Secretary Jeremy Hunt met China's State Councillor Wang Yi in Beijing, marking his first major overseas trip since he replaced Boris Johnson.

 

Featured Coins of the Day

Let's continue to highlight GFRC owned inventory items in today's Featured Coins of the Day segment. Selling a few of the following piece would be helpful towards raising cash for the upcoming Philadelphia ANA show. So please consider and offers welcomed.

      1832 LM-3 NGC MS65 5C                                                      1835 LM-6 PCGS AU58 CAC 5C

    

       1833 B-1 PCGS AU50 25C                                                   1803 Small 3 O-104 PCGS EF40 50C

    

1807 O-105 PCGS VF30 CAC 50C                                               1839 GR-5 PCGS AU53 CAC $50

    

A sincere thank you for the a great July sales month. GFRC exceeded its monthly forecast with sales ahead of 2017. With just two days to go before the month closes, 152 coins have been sold.

Time for a quick health walk and back to the GFRC office for the balance of the day. There is so much to get done in the next 36 hours.....

Wishing everyone a great week!

 

 

 

July 29, 2018

More Premier LSCC Membership Medals Packed and Ready to Ship!

Greetings on a wonderful Sunday morning as cool air flows through the GFRC office.

The weather people are calling for a sunny southern Maine day with highs approaching the low 80s and maybe, just maybe, the chance of a shower during the afternoon hours. If the weather plays out as forecasted, it will be time to mow the lawn before heading to China on Wednesday.

You would think that packaging and shipping 100+ Premier LSCC Membership Medals is no big deal right? It actually is a substantial effort from securing USPS flat rate boxes, entering addresses into USPS system, printing and cutting labels and then packaging the contents and taping the boxes. Diane worked all of Saturday afternoon with preparations and both us packed and taped boxes during the evening hours. The result is another large shipment for LSCC member with numbers 2031 - 2442. Here are the boxes ready for transport to the Post Office on Monday.

With a project of this size, there is always some level of drama. Case is point was David Jaeger's #2361 medal not being in the Moonlight Mint shipment. Diane had printed the label, prepared the box but the medal was no where to be found. Did we mispack that medal? Did Moonlight not ship? A check of Jeff Ball's massive project excel sheet revealed that Dan Carr personally transferred the medal to David since they live in the same part of Colorado. We still had to ship the Capital Plastic holder.....

 

GFRC Heading to China August 1 - Last Call for Shipments!

GFRC starts the month of August with a quick trip to Shanghai towards servicing its Chinese customer base. I'm flying on August 1 which means that there are only two more shipping days (July 30-31) before departure. Stateside orders that arrive between August 1 through August 7 will start shipping on August 8.

Orders from well known GFRC customers that arrive today and Monday will be shipped ahead of payment on Tuesday. Please confirm mailing a check or making payment via Paypal.

 

High Tech GFRC Office Update

Many emails arrive from satisfied consignors and yes, customers. The common theme is quick consignment processing and fast order shipments along with the quality of GFRC coins. GFRC service levels continue to be optimized by using tricks learned in the semiconductor industry. GFRC's service levels result from a passionate focus on personal efficiency and enabling ever increasing productivity via computer technology.

Following is a snapshot of the current GFRC office configuration. There are two laptops, wirless keyboard and mouse, and three available screens running in parallel for fast information access. The right most monitor always displays the COIN Database and is the heart of the GFRC business. The center screen/laptop is where emails, the Blog and online research is conducted. And on the right monitor/laptop is where image processing takes place. Connecting these three systems is a wireless mouse which can switch between the two laptop with a click of a button. By using OneDrive, I can process images on both laptops without saving on a USB flash drive.

And yes, that is the view of the front yard which is often mentioned in the Blog......

 

Denver Collection Consignment Arrival - Awesome Liberty Seated Dimes!

Awesome is the best adjective to describe the Denver Collection consignment that arrived at Saturday noon time. By 2:30pm, these three wonderful Liberty Seated dimes were posted to the Daily Blog as a preview and reached the price list after dinner. This is the speed at which GFRC can process and post consignments.

We open with a magnificent 1839-O Large O F-105 dime that has direct Kam Ahwash pedigree. This dime was sourced by GFRC, back in 2014, and sold to the Denver Collection consignor raw and in the original Ahwash flip. The consignor did the heavy lifting with NGC grading and CAC approval. Kam Ahwash graded this dime AU55, so did GFRC and NGC! If wishing to own a piece of numismatic history and a really nice early date Liberty Seated dime, then please consider this offering. The original Kam Ahwash flip and hand written insert is included.

Awesome Liberty Seated Dime Offerings - Denver Collection

Kam Ahwash 1979 Flip Included

1839-O F-105 Large O NGC AU55 CAC

 

How about two more great Seated dimes from the Denver Collection that were original sourced from the Gerry Fortin reference collection? Please check the price list for availability and prices.

1845 F-101 NGC AU55 CAC Ex Gerry Fortin                                1858-O F-101 PCGS MS63 Ex Gerry Fortin

    

 

Attention Shifts to Mountain View Collection

For those of you wondering about the status of the Mountain View Collection of Liberty Seated Quarters, I'm pleased to report that progress is being made. By the end of today, the entire collection will be loaded into the COIN database and images will accompany me on the China trip and will be process in airports and on the long trans Pacific flights.

I'm hoping for a Blog debut at some point between returning from China and leaving for the Philadelphia ANA show.

 

Wrapping Up the Blog

Lots of imagery in today's Blog, so let's take a rain check on the Featured Coins of the Day segment. I'm off to the daily health walk while road traffic is light and temperatures remain cool.

Thanks for checking in on a Sunday morning. I would sure love to sell you a quality coin today so please visit all the GFRC price lists as there are so many great coins to consider for your hobby.

Wishing everyone a great Sunday.

 

 

July 28, 2018

Premier LSCC Membership Medals Shipments Continue!

Welcome to yet another edition of the Daily Blog as the last weekend in July is upon us.

Honestly, I'm in a low energy state this morning and writing a coherent Blog feels more challenging than normal. So let's do our best but will be brief.

Premier LSCC Membership Medals Shipments Continue!

Given Friday's high temperatures and humidity, the Fortin's remained at home and focused on two projects; packing/shipping more Premier LSCC Membership medals and operating another regular day at the GFRC business office. There had been plans for an Asian dinner in Windham but heavy rains and thunderstorms placed that idea on the back burner.

Diane worked diligently throughout the afternoon and we are pleased to report that another 20 or so Premier LSCC medals are heading to USPS today. Those individuals with LSCC membership numbers between 1081 and 2028 and also, not attending Philadelphia ANA, will receive their medals by early next week.

The packaging process will continue throughout the weekend with another substantial shipment planned for Monday.

 

A Funny Consignment Proposal Story....

Friday brought an email from the Peak Collection consignor. This indiviudual is a smaller GFRC consignor but always presents top quality offerings. His emails arrives with a consignment proposal; a single 1846 LSD graded PCGS AU58 CAC. Well my heart nearly skipped a beat when reading the email. Why? The acronym "LSD" is constanting used by the Massachusetts Collection consignor as short hand for referencing Liberty Seated dimes. Therefore I immediately assume that the Peak Collection consignor was offering one of the two 1846 PCGS AU58 Seated dimes certified and a huge event for the GFRC community. As I side note, the other 1846 AU58 dime is in my personal collection.

I responded immediately with excitement and then stopped to think for a moment. What are the chances that this individual owned this piece when his previous consignments had been Liberty Seated dollars? Indeed, he was referencing an 1846 PCGS AU58 CAC Seated dollar that will immediate ship and be available prior to the Philadelphia ANA show.

 

GFRC New Listings

While Diane was busy packing Premier LSCC medals, I managed to photograph the latest Port Matilda consignment and then immediately focused on loading smaller consignments to the price list. Smaller consignments have a habit of being overwhelmed by larger submissions and it was time to get these done. That rascal, Gerry Fortin, also added a few more of his reference collection Seated dimes into the mix for good measure.

Following are more new listings that have/will be on the price list by afternoon time. Already, the 1857 PCGS AU58 and 1863-S VF30 Seated dimes are on hold. Amazing how well the Daily Blog preview function works.....

Gerry Fortin Reference Collection Consignment

The Rascal Sneaks in a Few More Seated Dime "Web-Book" Plate Coins

1856-O F-106 PCGS EF45 - Greer 103 Macro Plate Coin

1857 F-110 PCGS MS63                                                                   1857 F-112 PCGS AU58

    

 

New GFRC Raw Coin Offerings - Various Consignors

        1840 ND F-105 AU55 10c                            1863-S VF30 10C 10C                               1868 F-102 AU53 10C         

        

1875-S BF-16 EF45 20C                                    1829 F15 50C                                           1829 EF45 50C    

        

 

What is Happening to Spot Gold Prices...It is a Matter of Perspective!

Since it is the weekend, there is no Global Financial News segment in today's Blog. But the economic news on Friday was great with 4.1% GDP growth in Q2.

After dropping to $1216 on Thursday, spot gold recovered slightly to $1223 to close the week. Following is the 5 year Kitco technical chart that illustrates gold's recent breakdown as priced in US dollars. I've added a line that captures three major lows since January 2016. If gold drops below this line next week, then a major buying opportunity may be at hand.

Spot Gold as Priced in US Dollars

Taking a look at spot gold prices from the perspective of a Chinese citizen brings about a different view of the precious metal. Rather than experiencing a 10%+ drop in the last several months, spot gold as priced in RMB has been essentially flat. Chinese investors holding gold have been able to weather a 10% drop in the value of the Chinese Yuan and done better than investors in the United States.

Gold remains an excellent hedge against financial distress. When the United States economy is robust with strong dollar, then gold under performs. For countries with troublesome economic situations and weakening currencies, then gold provides stability.

Spot Gold as Priced in Chinese Yuan

 

Featured Coins of the Day

In today's featured coin segment, GFRC owned inventory items are being posted. Stating the obvious....I'd like to sell of these coins towards raising cash for the upcoming Philadelphia ANA show. So please consider and offers welcomed.

1807 50/20C PCGS VF25 CAC 50C                                                1812 O-105a PCGS AU58 CAC 50C

    

1813 O-107a PCGS AU50 50C                                                   1846 PCGS EF45 CAC $1

    

1847 NGC AU58 CAC $1                                                               1848 PCGS EF45 $1

    

That is it for today! Time for a quick health walk as another unsettled weather day is forecasted with more thunderstorms and rains. Best to get the walk in early followed by more GFRC shipping before the 12:00 noon deadline.

I will be in the GFRC office all afternoon until 5:00 pm. Please consider a purchase to help close out GFRC financials for the month of July.

Wishing everyone a great weekend!

 

 

July 27, 2018

Premier LSCC Membership Medals are Shipping!

Greetings and welcome to the Daily Blog on a beautiful southern Maine morning.

Yes, the unsettled weather clears for the day with sunny skies to close the week. Unfortunately, humidity is back leading to a hot sticky day that will close with overnight thunderstorms. So best to get that health walk in immediately after the Blog.

Thursday brought a quiet day at the GFRC office and Fortin home after the departure of the Yamatin family. Even Buddy was dejected and apathetic after losing his playmate Natsumi. A WhatsApp message just arrived from Chikae indicating that the Yamatins made it back to Beijing home safely and everyone is exhausted from the long return flights.

 

Premier LSCC Membership Medals are Shipping!

I'm pleased to report that the first 15 Premier LSCC silver membership medals are packaged and will be shipping today. In deference to LSCC membership seniority, individuals with the lowest LSCC membership numbers were given priority. Medals for Individuals with membership numbers 3, 21, 23, 158, 163, 164, 258, 398, 460, 505, 688, 708, 749, 818, 865, 968 and 1001 are shipping today. A sincere thank-you to Diane for spending the entire afternoon printing labels and packaging medals with their Capital Plastic holders.

Membership number 1054 is Gerry Fortin and those medals will be placed in their Capital Plastic holder today and proudly displayed in the GFRC office along with the initial Trial Strike set that has been displayed at coin shows and club meetings. At the close of the second ordering period, by end 2018, the Trial Strike set will be engraved with "Trail Strike" and then placed up for auction or for sale to benefit the LSCC Treasury.

More Premier LSCC membership medals will be packaged during the weekend and shipped on Monday.

 

GFRC Consignment News

Coney Collection Contemporary Counterfeit Update

I'm pleased to report that the entire Coney Collection offering of contemporary counterfeits has been posted to the GFRC price list. Friday brought the listing of quarter through dollar sized coins. Demand has been strong with incremental orders arriving during the overnight hours. Those incremental orders will be captured on the price list this morning allowing the dust to settle and visibility into the remaining offerings.

    

Am I surprised by the demand for the Coney Collection counterfeits? Actually yes! The order rate was well above my expectations and pleased with the results to date.

Between the following consignment backlog and mailing LSCC Premier Membership medals, your author will be quite busy until leaving for China on Wednesday.

Port Matilda Collection Consignment

The latest Port Matilda Collection consignment arrived on Thursday and what a pleasant surprise when opening the USPS Express package! Instead of the promised six coins, there were twenty-two (22) coins. A brief summary of the consignment contents is as follows;

- Seven Indian head cent circulation and proof strikes in 64/65 grade range with two being CAC approved

- Two AU58 Barber quarters; 1893 and 1911

- Six Capped Bust halves (1810 - 1818) grading VF25 through AU50 and all CAC approved

- An 1860-O Seated half graded PCGS VF30 CAC

- 1846 PCGS EF45 CAC and 1853 PCGS AU50 Seated dollars; 1875-CC PCGS EF40 CAC Trade Dollar

- Three great United States gold pieces; 1857-O PCGS EF45 CAC $2.5, 1851-O PCGS AU50 CAC $10 and 1912 PCGS MS62 $10 that looks like a gem.

Mountain View Collection of Liberty Seated Quarters

Attention shifts today to processing 120 Seated quarter images for the Mountain View Collection along with photographing the Port Matilda Collection coins.

Denver Collection Consignment

Three important Liberty Seated dimes, including an Ahwash Plate Coin, are due to arrive today from the Denver Collection.

 

Global Financial News

There was movement in commodity prices overnight with spot gold dropping into the realm of a buying opportunity. Gold dropped to $1218/oz while Bitcoin also gave up ground to $7948. Crude oil is steady at $69+/bbl and the U.S. Treasury yield is just a hair shy of 3.0%.

The United States economy is firing on all cylinders with a strong GDP announcement expected this morning at 8:30 am ET.

The headliner of this action-packed week could come from the latest GDP reading, the official scorecard of the U.S. economy. The Commerce Department will release its first official estimate for the second-quarter at 8:30 a.m. ET, with many expecting growth to top 4%, and some even seeing a whopping gain of 5%. That would mark the best pace in years, thanks to stronger consumer spending and a narrowing trade deficit.

The United States congress is focused on China trade and restricting investment in key U.S. industries.

Two measures related to Chinese trade are moving through Congress. The House has passed a $716B defense authorization bill that aims to rein in China's investments in the U.S. and strengthens CFIUS. The Senate has also quietly passed legislation that would lower tariffs on roughly 1,660 items made in China, including toasters and chemicals, to protect industries that no longer exist in the U.S.

The ugly face of socialism is on full display in Venezeula. Out of control inflation leads to a massive redenomination of the bolivar.

Venezuela is delaying its planned currency redenomination by two weeks to Aug. 20, lopping five zeroes off the refurbished bolivar (instead of three) and linking it to the country's Petro cryptocurrency. It comes in response to Venezuela's hyperinflation, which the IMF has said will soar to 1,000,000% this year, throwing the OPEC nation's already battered economy into a deeper tailspin.

 

Featured Coins of the Day

Today's Blog has certainly been lacking in visual images. How about some great GFRC offerings from two smaller consignors to consider on a Friday morning?

Hoosier Collection Consignment Offerings

     1844-O PCGS EF45 25C                                                   1854-O Huge O NGC VF35 25C

    

     1873 WA PCGS AU53 25C                                                   1873 NA Closed 3 PCGS AU50 25C

    

Titan Collection Consignment Offerings

1861 PCGS MS64 CAC 3C                                                             1892 PCGS AU58 CAC 50C

    

 1900-S PCGS AU55 CAC 50C                                                           1907 PCGS AU58 50C      

    

So ends another Blog edition. I'm immediately off to a health walk and then will be in the GFRC office for the balance of the day. Please consider a purchase as there are so many great coins in GFRC inventory to consider.

Thank you for stopping by!

 

 

 

July 26, 2018

Larger Denomination Coney Collection Counterfeits Arrive!

Greetings and welcome to the Blog on a rainy Thursday morning.

More unsettled weather and humidity is on tap for southern Maine today with clearing finally taking place during the overnight hours. I'm looking forward to seasonal weather on Friday and catching up on some yard maintenance.

Composing today's Blog is difficult given the limited amount of overnight sleep. The Yamatin's were successfully transported to Portland's bus and Amtrack station for a 3:00 am departure to Boston's Logan airport. Upon arriving home, it was difficult to get back to sleep. Before long, it was 6:30 am and time to brew coffee and sit at the keyboards to kick off another day.

Part 2 of the Coney Collection Contemporary Counterfeits

The Coney Collection consignor is a passionate individual when it comes to his numismatic hobby. Back in 2014, I worked with this individual to liquidate a hoard of 1861-O Civil War halves and a close relationship ensued. Subsequently, he moved into the exonumia realm and started collecting Liberty Seated contemporary counterfeit. The fascination with the subject matter quickly blossomed and soon all types of Federal coinage counterfeits were being pursued. The Coney Collection is now massive and like every other individual in the hobby, there is a need to divest duplicates. The Coney Collection consignor approached GFRC at Spring 2018 Baltimore show with the possibility of a consignment with transfer taking place at Summer Baltimore. Today brings Part 2 of that consignment including quarter through dollar denominations.

Demand for the smaller sized counterfeits has been well above expectations with the Part 1 price list posting approaching a sell out.

This individual was asked to compose a short introduction for the Part 2 debut and he wholeheartedly agreed and prepared the following. One can immediate gain an understanding of the in depth knowledge and passion for this under appreciated segment of exonumia.

Look for these counterfeits to start reaching the GFRC price list during late afternoon hours.


Collecting Circulating Contemporary Counterfeits (CCC)

As Gerry likes colorful names for consignments, I have chosen Coney—an old slang word for a circulating counterfeit. This term of disdain, implying worthlessness, was no doubt used by day-tripping New Yorkers who were taken by the “sharpies” on the Coney Island boardwalk.

There are many types of counterfeits with the “numismatic” one being the type we think of, i.e., 1804 dollar, 1909-S VDB, 1916-D dime, etc. There are modern Chinese counterfeits of every date and mintmark as we all know. The circulating contemporary counterfeit was made to pass in trade and fool the common man, not a coin collector.

The CCC is an important part of the criminal history of America. Before there were drug gangs distributing their product, counterfeit gangs did something similar. As the “shover” knew, you need only to fool one person with a counterfeit to be successful. These coins circulated alongside with genuine bust and liberty seated coinage and are as every bit collectible.

The hierarchy of CCC desirability is as follows: struck hand cut dies, struck transfer dies and cast (from transfer molds). The planchets are some type of base metal: German silver, billon, once plated brass or copper, white metal, antimony and sometimes plated lead. The most common type is the cast circulating contemporary counterfeit which did not require any expensive equipment or skill “to make money”.

The most studied CCC is the bust half. The excellent website cccbhcc.com maintains new variety listings, updated census information and collector articles. There are 400 varieties, mostly hand cut, but a few transfer dies and casts.

For Liberty Seated collectors, use lsccweb.org and find the contemporary counterfeit archives tab. You will get some idea of the scope of CCCs and what you might like.

There are other scattered web references to CCCs in Barbers, shield nickels, three cent silvers, gold, etc.

Contemporary wear and tear is a badge of honor and legitimacy. No green CAC stickers here, as PCGS/NGC will not slab a counterfeit and most have “issues” to begin with. As the CCC studies are in their infancy, rarities in general are rare to scarce (with some exceptions), but are likely to fall as more coins are shared.

For the mainline collector, having one or two CCC types as “show-and-tell” coins is completely justified. Others might try for a CCC US type set (as I did) until owning even more CCCs that I liked became a new goal. I purchased my first CCC from Gerry a few years back, knowing little about it other than it had a strange appeal to me (1842 dime, C-101). Amazingly, this CCC was listed in an 1865 auction catalog showing collecting interest way back then.

Selling duplicates is a form of numismatic recycling for me. Hopefully, Gerry’s clients will find these as interesting as I do.

Coney Collection Consignment Part 2 - Quarter Through Dollar Contemporary Counterfeits

1878 C-101 Rotated Reverse 25C

  1858 C-102 25C                                             1858 C-103 25C                                       1858 Unlisted 25C

        

 1861 C-104 25C                                             1876-CC 25C                                              1877 Cast 25C   

        

      1877-S 25C                                          1823 Dav 1-A 50C                                      1830 Dav 2-Ba 50C

        

1830 Dav 3-C 50C                                       1830 Dav 9-I 50C                                      1833 Dav 1-A 50C

        

1830 Dav 1-A 50C                                       1838 Dav 1-A 50C                                            1840 50C      

        

     1848-O 50C                                                 1858 50C                                                     1863-S 50C      

        

     1874 WA 50C                                                1876 50C                                                  1876-CC 50C      

        

1911-D 50C                                                1880 $1

    

 

Global Financial News

Commodities and interest rates are essentially unchanged from yesterday. Crude oil is quoting up at $1 at $69/bbl while gold is steady at $1228/oz. Bitcoin gains a bit more ground at $8278 while the 10 year U.S. Treasury bond is holding steady at 2.96%.

International trade and tariffs are once again center stage within Thursday's Seeking Alpha headlines. It appears that tariff reduction progress between the United States and the European Union is occurring. Agreements between these two major trading partners should set precedence for positive modifications to NAFTA.

"We agreed today to work together towards zero tariffs, zero non-tariff barriers and zero subsidies for the non-auto industrial goods," President Trump announced at a press conference yesterday with the EU's Jean-Claude Juncker. The U.S. secured further trade concessions, including the import of more soybeans and possibly some liquefied natural gas, while potential auto tariffs will be sidelined as the two sides launch negotiations to cut other trade barriers.

"Canada very much believes in NAFTA as a trilateral agreement, and that is simply a statement of the reality," Canadian Foreign Minister Chrystia Freeland declared alongside Mexican Economy Minister Ildefonso Guajardo, explaining that bilateral meetings between the different members are part of the negotiating process. Guajardo will now travel to Washington to discuss recent developments with U.S. Trade Representative Robert Lighthizer.

Facebook offers a poor quarterly report and loses 20% of its share value in the past 24 hours. Could user privacy concerns finally be catching up with this social network giant? GFRC has not updated its account for several years and I may remove my FB presence shortly.

So what went wrong at Facebook? The company posted weaker-than-expected daily active users for last quarter and said revenue growth would decline sequentially in the second half of this year. The news sent FB stock down over 20%, wiping out more than $125B in market value. Top executives further delivered a few warnings on an earnings call that touched on weaker margins and the effects of privacy changes.

It is no secret that Tesla is suffering through cash flow issues and now Elon Musk is lashing out at his Seeking Alpha critics.

Following a call to his employer by Tesla's Elon Musk, who threatened to engage counsel and sue Seeking Alpha's Montana Skeptic, the long-time contributor has been forced to stop submitting articles to the website. "We want to state clearly that we are more committed than ever to providing the soapbox for bulls and bears on this, and every, stock," declared George Moriarty, VP Content at Seeking Alpha. "This turn of events could make it tempting to rethink our approach... That will not happen."

 

Wrapping Up the Blog

Let's end the Blog here as my body is calling for more sleep. I will be back on Friday morning with a regular and more complete edition of the Daily Blog. Thank you for stopping by.

 

 

 

July 25, 2018

Premier LSCC Membership Medals Have Arrived!

Greetings and welcome to the Daily Blog on a peaceful Wednesday morning.

More unsettled weather is at hand for southern Maine. Already the humidity is too high to kick off the day with occasional showers forecasted. Then heavy rains arrive during the overnight hours. This is unfortunate given the Yamatins are taking a 3:00 am Concord Trailway bus to Boston's Logan airport. More on this later in the Blog.

Premier LSCC Membership Medals Arrival

Today's news of the day is the arrival of the Premier LSCC Membership medals shipment on Tuesday. Dan Carr's (Moonlight Mint) USPS Express shipment arrived as promised. It was a heavy package with over 100 silver medals and 10 four piece sets. Below is a quick snapshot of the medals in their packaging. Clicking on the image will bring up a higher resolution version with some of the four piece set names visible.

Sincere shout outs to benevolent LSCC members who made this project possible. There is Jeff Ball, the project manager who faciliated the effort between LSCC staff and Moonlight Mint. Jeff's project management skills were on full display as issues were confronted and resolved. How can we thank Jim Macor enough for his wonderful design efforts? And finally, to Dale Miller for handling the project accounting and ensuring that the club effort was financially well managed. Yes indeed, what was a brainstorming idea back in June 2017 (Gerry Fortin, Len Augsburger and John Frost) now is a reality one year later. Important projects take time to develop and bring to fruition, especially when the staffing is volunteers.

June 2017 Brainstorming to July 2018 Reality

Shout outs to Jeff Ball, Jim Macor and Dale Miller!

 

Yamatins Returning to Beijing

Time gives meaning to our lives as there is so little and it moves along much too quickly. Case in point is the one month that the Yamatin's have spent at the Fortin homestead. One month may appear substantial during the planning of an extended vacation but once actively engaged, the days fly by. As today's Blog is being composed, there is a quiet sadness as I contemplate the Yamatins departure during the overnight hours.

The Yamatin's absence will be felt immediately come Thursday morning as the home will be eeriely quiet. Gone will be Natsumi's chatter and the late afternoon back deck sessions with our nuts and drinks as we studied nature at its finest. The Yamatins are packing today and after a very short sleep, will be transported to Portland's bus station to take 3:00 am Concord Trailway bus to Boston's Logan airport. After a 24 hour journey, they will arrive back home in Beijing and begin preparing for the upcoming school year.

 

GFRC Consignment News

The GFRC community is simply wonderful. After Tuesday's request for better date consignments, just in time for the Philadelphia ANA, the Port Matilda and Denver Collection consignors called/emailed with proposals. Over ten important new offerings will be in the transport loop effective today. More on these upcoming consignments as the details are finalized.

Coney Collection of Contemporary Counterfeits

Have GFRC customer checked the Coney Collection listings on the price list? Well these contemporary counterfeits have proven to be quite popular and we are approaching a near sell out for the small sized pieces. Today brings attention to the 25 larger sized pieces towards an important client gallery.

AuburnNY Accordian Collection

All of the consigned pieces in the AuburnNY Accordian Collection consignor are now available on the price lists. Please have a look and consider a purchase.

 

Global Financial News

The financial world is rather quiet today with limited Seeking Alpha headlines to share. As for spot gold prices, the yellow medal has inched up to $1231/oz while crude oil is holding the $68/bbl level. Bitcoin continues to rally at $8216 and the 10 year Treasury yield is holding 2.95%.

Trade and tariffs with the European Union will take center stage today. President Trump is meeting with EU Commission President to discuss trade and hopefully make progress on difficult issues.

President Trump will sit down with European Commission President Jean-Claude Juncker today to discuss trade, including tariffs on autos, the sector that could have the most economic impact if it becomes a bigger part of the trade wars. Ahead of the meeting, Trump suggested the two sides should drop all tariffs, barriers and subsidies for "free market and fair trade," but was skeptical the European contingent would agree to the offer.

Speaking before the delegation lands in Washington, the EU's budget commissioner Guenther Oettinger said the bloc wanted the U.S. to first drop its new tariffs on aluminum and steel imports. According to EU trade commissioner Cecilia Malmstrom, the Commission is also preparing to introduce tariffs on $20B of U.S. goods if Washington imposes trade levies on imported cars.

Bitcoin's move into the $8000 range appears to be driven by anticipated recognitions from several ETF funds.

Bitcoin has topped $8,000 for the first time in two months, with the bounce now hitting nearly 50% since bottoming in late June. The move higher comes as San Francisco-based asset manager Bitwise joined the race to launch a regulated ETF for cryptocurrency. Rumors also has it that the SEC could say yes to another application filed by money manager VanEck and SolidX as soon as August.

 

Featured Coins of the Day - United States Gold

Whenever spot gold prices take a dip, the negative impact on GFRC gold coin orders is predictable. United States gold sales have been slow so far this summer but with gold creeping up slightly, maybe there will be an uptick at the Philadelphia ANA. GFRC continues to add quality gold to inventory as I am a long term believer in the precious metal and don't mind having a portion of GFRC's capital invested in gold coins. GFRC customer should also consider this type of diversification strategy; a small holding of quality type coins. Locating United States gold that offers exposure to bullion content along with numismatic enjoyment may be the best strategy.

Following are several recommended offerings to consider.

Recommended United States Gold Offerings

       1901 Raw AU58 $5 Liberty                                                  1902-S PCGS AU58 CAC $5 Liberty

    

       1913-S PCGS AU53 $5 Indian                                                      1847 PCGS EF45 $10 Liberty          

    

1901 PCGS AU58 CAC $10 Liberty                                                  1907 PCGS MS63 $10 Liberty      

    

 

Another Blog is completed and time for a health walk and then manning the shipping department. Thank you for checking in on a Wednesday morning. Be well and please check back this evening for a potential Coney Collection client gallery.

 

 

 

July 24, 2018

AuburnNY Accordian Collection Consignment Arrives!

Greetings once again and welcome to another Daily Blog edition.

A second day of foggy conditions and downright unsettled weather is upon those who live in southern Maine. At 6:00 am, the temperature is already 70F with light rain. Look's like another indoor day working on consignments....

Seth's Blog: The time/decision gap

I've been monitoring Seth's Blog for a short and simple piece of business advice and finally one appeared this morning. The piece is entitled "the time/decision gap" and explains how decision making is a critical part of a business process. Delaying decision making by seeking more time is typically a defensive alternative and less productive. Seth's short blog reminds me of several pieces of advice received during my professional career. Simple but powerful points requiring discipline include...

- Handle a piece of paper with useful information just once

- Disposition a problem immediately, reach a conclusion, apply corrective action and then move on

- Schedule a private 1 hour meeting with yourself several times per week for skills improvement

Anyways, here is Seth's Blog for the day....

The time/decision gap

Six years ago, I wrote, "You don't need more time, you just need to decide."

Easy to say, but hard to embrace.

Here's what I meant:

Deciding is difficult, because decisions bring responsibility. It's better to not decide, the lizard brain says.

How to not decide?

Ask for more time.

If you have more time, you can move away from the decision. Maybe someone else will make it for you. Maybe it won't need to be made at all.

But… That's our work.

We don't make stuff as much as we make decisions.

 

GFRC Consignment News

Coney Collection of Contemporary Counterfeits

I'm pleased to report that Part 1 of the Coney Collection of Contemporary Counterfeits reached the price list on Monday evening. Already two Seated dime counterfeits are on hold. Today will bring image processing for the larger denominations including quarters through dollars. Maybe there will be a client gallery in Wednesday's blog.

AuburnNY Accordian Collection Consignment

The Accordian consignor is back with another substantial offering of Liberty Seated dimes with an 1893/2 Barber dime and important 1919 Double Die Obverse Mercury dime added for good measure. GFRC customers are immediately gravitating to the 1839-O F-108 PCGS EF40 CAC offering with two quick FRoRs on hand. The 1839-O Huge O die variety was considered to be quite rare by Kam Ahwash. But with this publicity, collectors have cherrypicked enough examples to satisfy demand and then some. The challenge for the 1839-O Huge O is locating a choice original specimen in EF or better. Many will be found with porosity; at a higher rate than other die varieties of that year. Why? The explanation is presently unknown. So when a choice example reached the market, especially with CAC approval, then advanced collectors take notice.

The 1853 WA dime housed in ANACS old white holder and graded AU50 is also attracting substantial attention and pricing inquiries. The old time Wayte Raymond album toning is spectacular.

Also included in the lot is an important 1867 Seated dime offering. This is the Philadelphia key date for the series with a tiny mintage of 6,000 pieces. Essentially all surviving examples are in strong collector hands and few will reach the market in a year's time. Therefore this is an important to fill that hole in a date and mintmark set collection.

Finally, the 1919 Double Die Obverse Mercury dime is presently a sought after die variety with a moderate number of examples known.

AuburnNY Accordian Collection Consignment - Lots of Dimes!

1919 Double Die Obverse FS-101 NGC AG03

1853 WA ANACS AU50                                                                  1867 F-102 PCGS VF35

    

              1837 SD F-103a PCGS VF25                       1838 F-106 PCGS F12                   1839-O Huge O F-108 PCGS EF40 CAC

        

 1854-O F-103 PCGS EF40                         1856-O F-105 ANACS F12                         1877-S F-101 PCGS MS62

        

 1877-S F-103 PCGS EF40                            1879 F-104a NGC MS66                               1893/2 PCI VG10     

        

 

Better Date and Grade Consignments Wanted!

The Philadelphia ANA coin show is just a few weeks away and time for one last call for better date and/or grade consignments to be featured at the show.

As GFRC operational efficiency improves, consignments are being quickly processed and sold via the Blog and online price list. After the AuburnNY Collection consignment is posted to the price list, there will be an all out efforts to complete the Mountain View Collection consignment prior to Philly ANA. Handling a few smaller "high value" consignments prior to ANA will be doable.

 

Global Financial News

Global equity markets are in a rally mode this morning with strong overnight gains in Asia. Crude oil is holding the mid $68/bbl range and spot gold is also holding the $1225/oz level. Bitcoin rallied again to $8021 during the overnight. Then there is the U.S. 10 year Treasury yields that jumped to 2.95% and the topic of our lead Seeking Alpha headline.

Government bonds, in general, are under pressure after the Bank of Japan is signaling a change to its easy money policies.

Government bond prices around the world tumbled yesterday following reports that central banks could be preparing to pull back from the easy money policies that have provided critical support for equity markets since the financial crisis. The U.S. benchmark 10-year yield could soon hit 3% or higher after moving 8 basis points to 2.965% yesterday on a report that the Bank of Japan could change its easy money policies, and global bond prices remain under pressure overnight, with yields on 10-year Japanese bonds up to 0.08% from 0.03% late Friday.

If the flow of easy money (dark money) from Japan and Europe slows, then there are concerns for the ongoing United States equity market rally. Mutual funds and ETFs are seeing higher outflows.

Outflows of U.S. mutual funds and ETFs in June totaled $22.1 billion, the greatest amount in nearly three years, according to Morningstar's latest report. The bulk of the outflows were from U.S. equity, with $20.8 billion of outflows, $17.1 billion from active funds and $3.7 billion on the passive side. Outflows from international equity funds totaled $9.8 billion, the most since 2008, largely due to emerging-market outflows. Only taxable-bond and municipal-bond funds had inflows, $15.5 billion and $2.6 billion, respectively. Among top U.S. fund families, Vanguard led the way with $7.4 billion in inflows, but its growth continues to slow.

 

Featured Coins of the Day - Important Liberty Seated Half Dollar Offerings

There is no question that Liberty Seated halves are the most popular denomination throughout the GFRC community. Size, availability and design stability are potential reasons why collectors enjoy this series. There are also important die varieties that are quite popular. Following are several of those items, current stocked by GFRC, to consider on a Tuesday morning. Amazingly, this group does not even consider the broad stock of 1861-O Union, Louisiana and CSA offerings.

Important Liberty Seated Half Dollar Offerings

1842-O Small Date PCGS VF35                                                   1844-O Double Date NGC AU55

    

1846-O Tall Date NGC AU50                                                             1852-O NGC AU50          

    

1855/54 PCGS AU58                                                              1873 NA Open 3 NGC EF45

    

OK, that is a wrap for today's Blog. I've not had breakfast and need to drive to Windham medical clinic for drawing blood towards blood work prior to a physical exam in the coming days. One can never be too cautious about health when reaching the 60s.

Thanks for stopping by! I will be in the office all afternoon so don't be shy about calling in an order. If using email, I will respond quickly.

 

 

 

July 23, 2018

Moonlight Mint Completes First Premier LSCC Membership Medal Order!

Greetings and welcome to the Blog as another work week commences. Thank you for checking in.

Southern Maine is draped in fog and low level clouds to start the day. Temperature is surprising warm at 70F, as the Blog is written, and will climb into the high 70s by mid day. The high humidity will make for an unpleasant sticky day. The next few days will see the same; high humidity, clouds and unsettled conditions.

 

Premier LSCC Membership Medals in Capital Plastic Holders

    

 

Premier LSCC Membership Medals are Done!

A email from the Moonlight Mint arrived during the overnight hours indicating that the first Premier LSCC Membership medal order has been completed. The entire order ships today to GFRC Maine office as GFRC will take the responsibility for distribution of the medal program to LSCC members. Arrival of the entire lot is expected by end of this week. Project manager, Jeff Ball, is also shipping the Capital Plastic holders to the GFRC office this week.

As a courtesy to the Liberty Seated Collectors Club, Dan Carr performed edge engraving of all silver medals without charge. The edge lettering will read “ONE TROY OZ . 999 SILVER”.

How will Premier LSCC Membership Medal distribution take place?

There will be two approaches for distribution of the Premier LSCC Membership medals after a quality control check is performed by GFRC staff. We encourage club members to retrieve their medals at the Philadelphia ANA to help the club save shipping costs. Shipping cost for a single medal is equivalent to the cost for printing and shipping a Gobrecht Journal. Following are the distribution methods;

- Philadelphia ANA Distribution - For LSCC club members attending the Philadelphia ANA and LSCC Annual meeting, your medals will be available for pickup prior to the start of the meeting at 8:30am. An announcement will be made in the August E-Gobrecht stating this fact. If club members wish to retrieve their medals at the Philadelphia ANA, then email confirmation must be sent to GFRC and Jeff Ball. My wife Diane will be coordinating with Jeff Ball on the list of medals to be hand carried to Philly and distributed. GFRC will not bring all medals to the ANA; only those with emailed pick-up reservations.

- Club Members Not Attending ANA - Your medals will be shipped, via USPS Priority Mail, during the week before the Philadelphia ANA to addresses on the order form.

Premier LSCC Membership medals will be shipped in the Moonlight Mint plastic holder along with a Capital Plastic holder. It is the club member's responsibility to place the medal(s) into the Capital Plastic holder. Special care and gloves are suggested to ensure the proof finish is not impacted. For those ordering the four piece set including gold, two silvers and one copper, I cannot stress enough to use gloves when unpacking the medals and placing into the Capital Plastics holder.

 

Liberty Seated Dime "Web-Book" Update - 1875-S BW F-123 Added

A recently identified 1875-S Below Wreath die pairing with huge obverse rim cud was listed in The Definitive Resource for Liberty Seated Dime Die Variety Collectors on Sunday evening. Following is the opening portion of the new 1875-S BW F-123 listing.

Dr. Tim Cook is originally credited with identification of the new die pairing while Jim Poston is credited with locating a late die state example with huge rim cud at 4:00. For the time being, the F-123 listing covers both die states.

1875-S

Small S - Variety 123

 Obverse 20: High Date, Slight Downward Slope, Rim Cud at 4:00, Cracked and Clashed Die

Reverse U: Small S, Heavily Clashed Die, [mm Rt,C]

        

 

Global Financial News

Let's open the week with a quick look at commodities and interest rates for potential movement during the weekend.

Crude oil has inched up to $69/bbl as we start to see falling gasoline prices in our neighborhoods. Spot gold has also inched up to $1230 while Bitcoin is quoting at $7686. The 10 year U.S. Treasury is yielding 2.89%.

Seeking Alpha headlines provides an excellent update on global financial dialogue. We start with Mexico and the new Mexican President-elect opening the door with President Trump.

In a conciliatory letter to President Trump, Mexican President-elect, Andrés Manuel López Obrador, said he's ready to start a new stage in U.S.-Mexico relations and seek a "common path" on trade, migration, economic development and security. The communication was made public just days before the U.S., Mexico and Canada restart talks to renegotiate NAFTA in Washington.

The G-20 met on Saturday will limited results. Treasury Secretary Mnuchin is stressing that "free trade" means trade free of tariffs by any nation and is placing more pressure on China to reduce the trade deficit.

Ahead of the summit, Treasury Secretary Steven Mnuchin said he "wouldn't minimize" the possibility that the U.S. will impose tariffs on all $500B worth of goods that the U.S. imports from China. He also discussed trade tensions with the EU. "If Europe believes in free trade, we're ready to sign a free-trade agreement," adding that any deal would have to eliminate tariffs, along with other barriers and subsidies.

Theresa May is once again engaging the EU in talks toward Brexit settlement.

U.K. Prime Minister Theresa May is sending cabinet ministers across the EU this week to sell her Chequers Brexit compromise plan. It comes after Brussels rejected the U.K. scheme on how to govern London's access to the EU after Brexit, saying Theresa May’s latest financial services proposal would rob the bloc of its "decision-making autonomy."

 

Featured Coins of the Day

We close out the Blog with a visit to the Liberty Seated half dime price list. Historically, Liberty Seated half dimes have been a great value since demand is lower than large denomination counterparts. This series is much easier to collect, including a complete date and mintmark set, due to the lack of early year Carson City rarities. No half dimes were struck in Carson City as the series ended during 1873.

The lead offering is an extremely rare 1847 proof half dime graded NGC PF63 with an estimated 8 to 12 known. GFRC handles all types of rare Liberty Seated coinage dates!

1847 NGC PF63 - 8 to 12 Known!

Other Great Liberty Seated Half Dime Offerings

    

    

    

 

So ends today's Blog! I'm heading to the shipping department as weekend orders were strong. In particular, the new Jim Poston consignment attracted much attention and a fair number of immediate sales. GFRC customers, who are well known to me, receive immediate shipment of orders prior to payment arriving. We are a small community and trust is a key component. All it takes to be placed on the "GFRC Quick Ship" program is for new customers to execute three orders with immediate payments and no returns. I expect "Quick Ship" customers to mail out a check the same day that GFRC ships the purchased item.

Again, thanks for stopping by at the Daily Blog and wishing everyone a great start to the work week.

 

 

 

July 22, 2018

One of Those Special Moments in a Life.....

Greetings and welcome to the Blog on a Sunday morning. Hopefully the Hostway server will be functioning normally this morning to enable community reading of the Blog at its regularly scheduled time!

The weather people were spot on concerning southern Maine forecast. Five days of perfect late July weather were thoroughly enjoyed and now the rains arrive. The day starts with heavy fog as as the Fortin homestead is 950 ft above sea level at the top of Ledge Hill. Temperature is a chilly 56F with on and off rains arriving during the day and evening hours. The forecast for the upcoming work week brings unsettled conditions and humidty.

Yes, there was a long Hostway server outage on Saturday from about 9:00 am through 2:00 pm. Emails from dedicated Blog readers arrived with the news and my discussion with Hostway technical support revealed a substantial server issue that would be corrected by early afternoon. There was nothing else I could do but be happy and wait for service to return. Since I had planned to photograph every consigned coin in backlog, the outage allowed me to stay focus and get that job done.

Saturday brought the annual Yarmouth Clam Festival and its 5 mile road race at 8:00 am. This was the 37th annual running of the race and, of course Matt Yamatin took the opportunity to participate and placed second overall and first for his age group.

Afternoon brought a suggestion for a Mexican dinner in Raymond with Matt running back home (another 8 miles) to complete his daily training. Dinner plans negated later afternoon nuts and drinks time on the back deck with Natusmi. As an alternative, I promised Natumi that she could spend time in the basement sound room with Grandpa once he was finished with posting the Seal Beach and Jim Poston client galleries. First she had to organize all the Barbies and associated play items, next to the stairway, so we would not step on them. This she did and then waited for Grandpa growing impatient as time moved past 9:00 pm.

By 9:30 pm, the GFRC office officially closed with Natsumi and Grandpa heading to the sound room for her first visit.

I warned Natsumi that Grandpa played his music loud but she was undeterred with joining me. What is the world could Grandpa play for a 4+ year old, from his movie library, to entertain and maintain her attention? Quick thinking brought out Yanni's Tribute filmed in India, at the Taj Mahal and at the Imperial Palace in Beijing. Natusmi could relate to the performances in Beijing since where she lived but overall was growing a little impatient. Yes, the volume was reduced a tad for her young ears..... More quick thinking occurred after relaxing with my glass of scotch. Since Natsumi loves to watch the Little Mermaid, how about trying Loreena McKennitt's Nights at the Alhambra as filmed in Granada Spain. I explained to Natsumi that Loreena was a beautiful woman with long red hair and pretty signing voice as the DVD started. Then magic occurred, Natsumi was captivated by the Celtic visuals and music. She danced in her La-Z-Boy recliner during upbeat songs and simpy took in the quieter moments. At one point, Natsumi runs upstairs and returns with her drinking water cup and a dish of nuts to share with Grandpa....Yes, it was one of those special moments in a life!

 

GFRC Consignment News

Today's Blog features important consignments from the Seal Beach Collection and Jim Poston.

We open with more duplicates being divested from the Seal Beach Collection and being returned to the GFRC community. Fans of the Liberty Seated half dollar series will immediately recognize the importance of the 1873 Open 3 No Arrows offering as this is a serious rarity. Since Seal Beach purchased an gem 1854-O NGC AU58 CAC half from Jim Poston's offerings recently, his 1854-O PCGS AU55 CAC duplicate is immediately available for purchase.

Seal Beach Collection Consignment - Liberty Seated Halves

Rare 1873 Open 3 No Arrows NGC EF45 50c

1854-O PCGS AU55 CAC 50C

 

 

I'm really pleased to be posting another excellent lot from Jim Poston that includes many types coins with excellent eye appeal.

Leading the group is a gem original 1886 PCGS MS63 CAC half with mirrored fields and incredible obverse toning. I guarantee that the new owner will be absolutely thrilled to add this gorgeous offering to their collection. Already, there is one FRoR and I hope this individual takes the coin.

There are more beautiful offering to consider. I especially like the 1891 PCGS AU58 dime, though a common date, the 1874-S Liberty Seated quarter and the 1847 and 1878 Seated halves. For everyone's information, Jim does not send coins to CAC. His consignments are as purchased from coin shows in the midwest and other venues. So if planning to ask if such and such has been to CAC for review, then the answer is simply I don't know.

Asking prices have been settled and look for the Poston coins to reach the price list by this afternoon. I suspect a fair portion will be sold quickly.

Jim Poston Consignment - More Eye Appealing Type Coins

1886 PCGS MS63 CAC 50C - Gem Original

  1872 F-104 PCGS AU50 10C                        1885 F-107 NGC MS66 10C                  1891 F-114 PCGS AU58 10C   

        

            1905-S PCGS AU55 10C              1931-D PCGS MS64FB GOLD CAC 10C          1874-S Arrows PCGS AU55 25C   

        

        1890 PCGS AU58 25C                             1892 PCGS AU58 25C                           1847 PCGS AU58 CAC 50C   

        

1856-O WB-9 PCGS AU55 50C                        1878 PCGS AU58 50C                                  1889 PCGS MS64 $1          

        

 

Featured Coins of the Day

it has been awhile since the Osprey Collection offerings took center stage in The Featured Coins spotlight. Yesterday, an email arrived with pricing reductions so let's showcase Osprey coins to close out today's Blog.

Osprey Collection Consignment - Great Coins at Reduced Prices!

1920 Pilgrim PCGS MS65 CAC - $395

Exceptional Toning!!!

1723 Rosa Americana PCGS EF40 - $120                               1723 Hibernia 1/2 Pence PCGS AU55 - $290

    

 1783 Washington Token PCGS EF40 - $95                                         1836 B-3 PCGS VF35 25C - $290        

    

    1811 O-108 PCGS EF45 50C - $390                                             1823 O-108a PCGS EF40 50C - $250

    

 

As always, thank you for sharing time on a Sunday morning and visiting the Blog. Since the weather guides me to an indoor day, I will be in the GFRC office posting the Jim Poston, Seal Beach and Coney Collection new offerings to the price list. Don't be shy concerning an inquiry or purchase......

And with that, it is time for a quick health walk before the rains arrive. See ya tomorrow.

 

 

 

July 21, 2018

Coney Collection of Contemporary Counterfeits Arrives!

Greetings on a lovely Saturday morning and weekend to the Daily Blog.

Today brings the last day of sunny weather before a dramatic shifts takes place. The upcoming week is forecasted to be cloudy and a general washout with off and on periods of rain. Armed with this information, GFRC will be photographing every consigned coin in queue today to ensure a strong working backlog of images for the upcoming week. This includes the massive Mountain Collection Collection of Liberty Seated quarters which is alone, 120 pieces. Given's August 1 flights to China, there will be a substantial effort to load as many coins as possible to the price list prior to departure. So please check the Daily Blog twice per day, 8:00am and early evenings, for the latest client galleries.

Today's Blog edition will be short as the day started at 4:30 am to wrap up image processing of the first half of the Coney Collection of Contemporary Counterfeits. There is more shipping to get done before noon and a health walk is in order during the cooler morning hours.

 

Offerings from the Gerry Fortin Liberty Seated Dime Date and Mintmark Set Collection

It is great to be a collector again as my long term Liberty Seated Dime date and mintmark set collection receives renewed attention. Since operating GFRC, I have access to many coins including better grade Liberty Seated dimes. My standards are incredibly selective towards any upgrades. Eye appeal, absolutely strict originality and 100% complete strikes are hard fast requirements for an upgrade. As you can imagine, these requirements rule out most potential candidates as I'm always finding a reason for not making an acquisition. But after a period of 30 years, the set becomes a significant statement of what is possible with long term goals and extreme patience.

I'm still glowing over the acquisition of the New England Museum 1866 PCGS MS66 dime and will be seeking similar upgrades towards a 95% CAC approved set goal.

So today, two dimes from my date and mintmark set collection are being released. The first is the 1866 F-102b PCGS MS64 example which was purchased at the July 2004 Summer Baltimore show at a Bowers & Merena auction. Why did I purchase this dime when it is mostly even gray? The reason is straightforward. Many surviving 1866 dimes are found with mirrored fields and wire rims. Frankly, they look like proofs and will not fit into a business strike set. I was searching for a well struck frosty original specimen including mint frost in the fields. This example met those requirements. Then there is the 1872 dime graded PCGS MS65 with bold frosty cartwheel luster. Few collectors are aware that this date is an extreme grade rarity above MS65. There are only two better in the PCGS population report; one MS66 and one MS67. GFRC customers may see the $2450 asking price and think I've lost my mind..... Just do the homework and the basis for the asking price will become clear. I have a feeling that this MS65 graded dime will end up in a MS66 holder at some point. I may even try for the upgrade at Philly ANA if still in inventory at that time.

Gerry Fortin Date & Mintmark Set Duplicates Consignment

1866 F-102b PCGS MS64 10C                                                   1872 F-102 PCGS MS65 10C

      Purchased July 2004 Bowers & Merena                                                Purchased January 2004 Private Transaction

    

 

GFRC Consignment News

Handling the Coney Collection of Contemporary Counterfeits is a courtesy to a great numismatic friend. Prices for these exunomia items will be low as compared to other coins handled by GFRC. But someone has to step up and recognize contemporary counterfeits as another important facet of United States numismatics. When viewing a portion of the SS Central America's 5000+ Liberty Seated dimes (found in the captain's safe) with Mark Salzberg during the summer of 2014, I ran across an amazing AU 1852 contemporary counterfeit, hand cut dies, that was in circulation during that period. I was more excited to find this piece than seeing many of the other dimes in the captain's double bagged leather pursue.

So here is Part 1 of the Coney Collection; smaller sized contemporary counterfeits. I hope Blog readers will enjoy the display. My expectation is for price list posting later in the day on Sunday.

Coney Collection Consignment Part 1 - Small Size Contemporary Counterfeits

1874 No Arrows Dime - Medal Turn Reverse

  1853 3 Cent Silver                                      1858 3 Cent Silver                                       1859 3 Cent Silver  

        

 1860 3 Cent Silver                                      1860 3 Cent Silver                                    1861/58 3 Cent Silver  

        

 1861 Dime                                              1875-CC BW Dime                                         1888 Dime    

        

 1888 Dime                                                    1888 Dime                                                 1907 Dime  

        

          1916 Dime                                        1854 Type 1 $1 Gold                                     1856 Type 3 $1 Gold

        

 

Jim Poston Consignment Arrives

GFRC's Maine office has been a busy place this week. Jim Poston's latest consignment arrived on Friday via USPS Express and marked going 5 for 5 for the week for Express shipments. Every day of the week brought at least one USPS Express shipment and I'm getting to know Windham Maine express carriers quite well including the postmaster who handles some of the rural deliveries.

Ok, here are the contents of Jim's latest consignment. Blog readers should pay close attention as there many great coins to consider. Yes, photography is already done. Jim and I will be settling asking prices today.

Liberty Seated 10c: 1872 F-104 PCGS AU50 original gray; 1885 NGC MS66 gorgeous pastel rainbow colors with cartwheel luster; 1891 PCGS AU58 attractive pastel colors

Barber 10c: 1905-S PCGS AU55 gorgeous bullseye rose/blue obverse patina

Mercury 10c: 1931-D PCGS MS64FB Gold CAC Rattler holder

Seated 25c: 1874-S PCGS AU55 really choice original and deserves serious attention; 1890 PCGS AU58 attractive deep gray patina and choice

Barber 25c: 1892 PCGS AU58 mottled rose-blue with vibrant cartwheel luster

Seated 50c: 1847 PCGS AU58 CAC RPD and close to gem original; 1856-O PCGS AU55 RPD choice original and so attractive; 1878 PCGS AU58 frosty with light peripheral gold; 1886 PCGS MS63 CAC gem original with incredible toning....a collector's dream coin.

Morgan $1: 1889 PCGS MS64 obverse rainbow arc and full reverse toning

 

Wrapping Up the Blog

I would like to close out today's Blog with two requests for the GFRC community....

1. Better date and higher priced consignments WANTED in time for the Philadelphia ANA show!

2. Please consider a GFRC purchase this weekend!

Today will be another busy day in the GFRC office. I will be either preparing shipments, processing images or outdoors photographing consignments. Please don't hesitate to email or call on a potential purchase. Yes, I'm trying to achieve the July montly forecast during the next nine days and giving it my best.

Thanks for checking in on a Saturday morning and wishing everyone a great weekend.