Gerry's Daily Blog

October 16, 2018

Time to Prepare GFRC's Baltimore Discount Case Offerings

Greetings again and welcome to the Daily Blog.

Wow, Tuesday started quite early at 5:00 am and when opening emails, I found an avalance of orders from GFRC's Shanghai agent Harry Zhang. Instead of securing a head start to today's edition, I've been reviewing orders and advising Harry for his communication back with Chinese customers. Now my attention shifts to the day's musing and publishing time will be a bit delayed.

Also Dan White and Rose Marie are wrapping up their visit and will be driving south by mid morning. Last evening, Dan and I complete the review of Gerry's Liberty Seated Dime collection. Dan has a much better appreciation for superior eye appeal and conservative grading after two viewing sessions.

Seasonal Autumn temperatures are at hand this morning as the day starts at brisk 40F. The weather forecast is calling for freezing overnight temperatures during the second half of the week and it is already time for the first blowing of the leaves prior to departing for Baltimore. Where does the time go?

 

GFRC's Baltimore Discount Case Offerings

As mentioned several times in the Blog, GFRC will have two cases of available space for discounted coins at the Baltimore show. These cases will contain net priced coins at strong discounts with no further bargaining or negotiations; the term used is "net" pricing. The goal is to recycle GFRC inventory into cash towards fresh purchases.

The GFRC discount cases are also an opportunity for consignors to move out coins at strong discounts. Following is my proposal for securing placement in the GFRC discount cases;

- 15% discount from current GFRC price list prices.

- Coins will be stickered with the discounted price but not updated in the COIN database or on the GFRC price lists.

- When discounted coins are sold, the selling price will be captured in the COIN database.

- If coins do not sell, then discounted sticker prices will be removed after Baltimore and coins return to regular inventory.

The next discounted sales event would be NH Coin Expo (November 8-10) with one case of discounted coin. Afterwards is the Black Friday sale during Thanksgiving weekend.

 

New GFRC Consignments to Consider!

Monday brought an opportunity to play catch up on new consignments and image processing. Today's Blog edition is nicely dressed up with quality new offerings that are worthy of consideration. I'll give it my best to get these on the price list by end of day!

We start with a five piece offering from the Osprey Collection. Dan dropped these off upon arrival on Saturday and has provided suggested asking prices. The 1795 VG08 Flowing Hair half dollar brought several FRoR and rightly so. It is a no question gem, at the assigned grade level, with blemish free surfaces and superior eye appeal. This one is from Dan's box of 20. The 1888 PCGS PR65CAM Seated quarter is also a most attractive offering with watery fields and gorgeous uniform toning. This is another box of 20 divestment as Dan focused solely on early Federal dollar coinage up through the Liberty Seated dollar series.

The 1891-O F-103a dime also has multiple FRoR while the 1858-O PCGS MS64 CAC half dime and 1905 PCGS MS64+ CAC Barber dime are available.

Osprey Collection Consignment - Superb Offerings

        1888 PCGS PR65CAM 25C                                           1795 O-104 PCGS VG08 CAC OGH 50C

    

   1858-O PCGS MS64 CAC 5C            1891-O F-103a PCGS MS64 CAC 10C              1905 PCGS MS64+ CAC 10C   

        

 

OK, these three pieces are not consigned but rather taken in on trade. One can never have enough Civil War Philadelphia small denomination coins in inventory, especially when the coins are strictly original. The 1867 half dime is rare with mintage of 8,000 and few survivors in circulated grades. The 1863 dime is undergraded and full VG08 with thick gray-gold patina. I've priced both for quick sale and doubt they will be around after the Baltimore show.

New Items Take In Trade - Two Rare Civil War Philadelphia Dates

       1867 PCGS F15 5C                             1863 F-101a PCGS G06 10C                      1821 NGC F15BN CAC 1C

        

 

And finally, Crazy Joe is back with more duplicate releases from his Capped Bust half dime collection. The 1835 LM-4 is an R3 rarity and a really sweet piece. How I wish this one were in a PCGS holder rather than ANACS gold holder. But don't let the holder stop you if interested. The 1836 LM-2 also resides in ANACS gold holder and is accurately graded. The bold bisecting LM-2 obverse die crack is so evident on the images. These three offerings will be priced later today followed by Crazy Joe's pricing approval.

Crazy Joe Collection Consignment - Capped Bust Half Dimes

  1835 LM-4 ANACS AU50 5C                         1835 LM-10 PCGS AU53                       1836 LM-2 ANACS AU50 5C   

        

 

Global Financial News

Tuesday opens with commodities and interest rate remaining stable. Spot gold is holding its higher trading level of $1233/oz while crude oil's pull back is holding at $71/bbl. Bitcoin is also holding the $6500 level. The small retrieve in 10 year interest rates to 3.17% is being maintained to start the day.

United States deficit spending continues as a leading Seeking Alpha headline. One must be wary of the impact of Federal Reserve interest rate increases on deficit spending.

The U.S. government closed out the 2018 fiscal year $779B in the red as tax cuts pinched revenues and expenses rose on a growing national debt. The deficit was also larger than any year since 2012, when it topped $1T. Adding to debt servicing costs, the Federal Reserve is raising interest rates roughly once per quarter in the face of a hot labor market and some signs of inflation.

Across the pond in Europe, deficit spending is becoming an issue with European Union southern countries. Mightly Germany continues to prosper with export oriented economy while the southern states are consumers. Adding in socialist agendas leads to more deficits.

Italy's government signed off on an expansionary 2019 budget late Monday - with planned measures that would boost welfare spending, lower the retirement age and cut taxes - in defiance of EU rules that require a shrinking deficit. The draft budget law has rattled financial markets in the past month, with investors demanding significantly higher interest rates to buy Italian bonds.

Spain's Socialist government is sticking to its pledge to loosen deficit targets in 2019, challenging the opposition People's Party to wield its Senate veto against plans to help voters weary of years of austerity. The administration will target a budgetary shortfall next year of 1.8% of GDP, compared with 1.3% reported to the European Commission by the former PP government.

And finally, Amazon's Jeff Bezos believes his Blue Origin space exploration company is key for the human race to escape an over populated Mother Earth.

"We are starting to bump up against the absolute true fact that Earth is finite," Blue Origin founder Jeff Bezos declared, predicting there will be 1T humans in the solar system one day. "The dynamism that I have seen over the last 20 years in the internet where incredible things have happened in really short periods of time... We need thousands of companies." Blue Origin is "the most important thing" that Bezos is working on, he said, edging out Amazon and the Washington Post.

 

Featured Coins of the Day

CAC Approved Draped Bust Coinage to Consider

1805 B-2 PCGS G06 CAC 25C                                                   1807 B-1 PCGS VF30 CAC 25C

    

1806 B-9 PCGS AU50 CAC 25C                                                   1806 B-3 PCGS G06 CAC 25C

    

1806/5 O-102 NGC F12 CAC 50C                                                   1807 O-105 PCGS VF30 CAC 50C

    

 

Thank you for visiting with me (and Dan as he watches me wrap up the Blog).

I will be in the office all day awaiting your purchase emails and phone calls. There are many coins to prepare for the upcoming Baltimore show and will not be bored.

Take care and have a great day.

 

 

 

October 15, 2018

Whitman Baltimore Preparations in High Gear

Greetings and welcome to the Daily Blog as the middle of October has arrived.

Sunday was an absolutely perfect autumn day in southern Maine. Dan White and Rose Marie's visit could not have come at a better time to enjoy the foliage and a tour of coastal Maine. Other than photographing new consignments, I took the entire day off from the GFRC business to be a tour guide for our guests. We visited Old Orchard Beach's seven miles of sandy beach and then it was off to Two Lights area with infamous Lobster Shack. Next was a stop at Fort Williams to take in Portland Headlight, the most photographed lighthouse in Maine. Here is Dan and I posing for the traditional photo op at the lighthouse. Note the clear blue skies in the background.

Next stops on the tour were the Portland downtown and Commercial St. water front with an attempt at Dimillo's Floating Restaurant for late lunch. Even at 2:30 pm, the wait was one hour for a table as everyone was out and about enjoying the foliage season. We declined and then drove up to Freeport for lunch a Linda Bean's Maine Kitchen across from LL Bean. The tour concluded with time at LL Bean checking out Maine boots and hunting rifles along with stops at the trout pond and fish tank. Yes, we had to snap a picture of Dan and Rose Marie at the two story Maine boot for memories.

 

Seth Godin: “Here we go again”

Seth Godin touches upon the power of positive thinking in the following blog. How often have we said "here we go again" in a negative context with anticipation for troubles and bad luck? Godin challenges us to reverse that thought process and see "here we go again" as a positive anticipation of successes against our expectations. Please read on and seriously consider the power of positive thinking for shaping our lives in business, in health maintenance, and within relatoinships. Godin closes with advice to consider for changing your "here we go again" paradigm.

“Here we go again”

We all say that to ourselves.

The question is: when do you say it?

Do you say it when you're being rejected, failing, stuck, panicked, overwhelmed or alone?

Or do you say it when you're engaged, winning, changing things and in the groove?

Because the more you rehearse this feeling, the more it's going to happen.

We get what we expect.

And we expect what we get.

The easiest way to change this cycle is to alter the scale we play in.
If you keep failing at the big stuff, it's worth honing the habit of succeeding at the small stuff first. And if you're finding yourself in a rut, a cycle of failure, walk away from that series of projects and find a new field to plant your seeds in.

 

Whitman Baltimore Preparations in High Gear

There is only one week left to prepare GFRC for the upcoming Whitman Baltimore show as staff arrives on Tuesday October 23 in anticipation of the pre-show on Wednesday following by Booth 818 setup on Thursday morning.

Staffing at the GFRC table has expanded in support of 13 cases of inventory and 2 cases housing the Gerry Fortin Liberty Seated Dime collection. Those individuals are;

- Sales Assistant Staff - Gerry and Diane Fortin, Len Augsburger, Dan White, Rose Marie Zergers,

- Collection Hosting Staff - Tom Bender, Greg Johnson

Following is a preview of what customers and friends can expect at Booth 818.

- 10 cases of regular GFRC inventory from early copper through United States gold. That is roughly 900 quality coins for purchase.

- 2 cases of discounted coins. These are coins that will only be discounted at the Baltimore show and not on the website price lists. Coins will have net priced stickers and include GFRC aged inventory along with consigner coins where prior arrangements have been made for special discounting.

- 1 case of raw coins. Yes, GFRC will be transportng its raw coin inventory for those who are filling Dansco and/or Whitman bookshelf albums.

- 2 cases containing the Gerry Fortin Liberty Seated Dime collection. Not much else to say here.

Whitman Booth 818 - Home to Gerry Fortin and David Perkins Rare Coins

 

Global Financial News

We start the week with spot gold moving higher to $1234/oz, a welcomed development prior to the Baltimore show. This may be a 2018 ending rally as the global markets are starting to feel weak at the knees. Crude oil is quoting at $72 per barrel while Bitcoin has recovered to $6553. The 10 year U.S. Treasury is flat at $3.15%.

The disappearance of a Saudi journalist in Turkey has become a significant international event with potential global market impacts.

U.S. stock index futures are following Asia and Europe into the red as risk-off sentiment pervades amid increasing tensions between Riyadh and Washington. The Kingdom has vowed an economic response "with greater action," should the U.S. impose sanctions against Saudi Arabia over the Khashoggi case. Crude warning? "If the price of oil reaching $80 angered President Trump, no one should rule out the price jumping to $100, or $200, or even double that figure," Al Arabiya's Turki Aldakhil wrote in an op-ed.

More business executives are pulling out of Saudia Arabia's three-day conference known as "Davos in the Desert," set to begin on Oct. 23. The latest include JPMorgan CEO Jamie Dimon and Ford Chairman Bill Ford. The cancellations could add pressure on other U.S. firms like Goldman Sachs, Mastercard and Bank of America to reconsider their plans to attend the investment summit.

The United States is attempting to call out and head off potential China devaluation of the yuan.

China's central bank governor Yi Gang on Saturday promised to keep the yuan currency’s value "broadly stable" at IMF and World Bank annual meetings in Bali. But U.S. Treasury Secretary Steven Mnuchin reiterated concerns that a major drop in the yuan's value this year against the dollar could be part of an effort to gain a trade advantage for Chinese exports or to offset the impact of U.S. tariffs.

In response to potential China currency actions, Washington wants to include a provision to deter currency manipulation in future trade deals, including with Japan, based on the currency chapter in its new deal to revamp NAFTA. The decision drew concerns in Japan over whether the U.S. would have the right to label any future forex market interventions by Tokyo as manipulation. The yen is often regarded as a "safe-haven" currency in Asia.

Sadly, Sears has filed for bankruptcy. Another trusted American retailer is gone.

Sears has filed for bankruptcy after years of staying afloat through financial maneuvering, a merger with Kmart, and relying on billions of CEO Eddie Lampert's own money. It's set to shutter 142 stores towards the end of the year and begin liquidation sales shortly. While Lampert will step down as CEO, he'll remain Sears chairman, as his ESL Investments negotiates a debtor in possession loan and other funding to support what was once the country's biggest retailer through the bankruptcy process. SHLD -16% premarket.

 

Wrapping Up the Blog - Look for Coin Images Tomorrow

There was no time to process coin images on Sunday and this edition is already late. So let's pass on the Featured Coins segment and simply wrap up for the day.

I will be in the GFRC office the entire day working on image processing and starting to disassemble the Dr. Glenn Peterson colleciton into PCGS submission lots for upcoming Baltimore show.

Your email and phone coin orders are especially welcomed!

Thank you for visiting with me this morning. Have a great week!

 

 

 

 

October 14, 2018

GFRC Consignment Flow Continues!

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

Crisp is the operative word as temperature is only 34F with a forecasted daytime high of 57. Yes, it will be a wonderful Autumn for traditional apple orchard visits and enjoying local Halloween decorations. Maine hayrides are popular for adults and children alike.

The Fortin backyard experienced its first frost of the season during the overnight. Below is image taken at 7:30am as the sun rose and started melting away the white frost. The tall trees in the back acreage provided enough shadowing against the rising sun to facilitate this picture.

 

Dan White and Rose Marie arrived on Saturday afternoon. Poor Dan...instead of following my instructions for crossing the Hudson River at the Tappan Zee bridge, his car GPS took him the "shortest distance" route across the George Washington bridge allowing him to enjoy bumper to bumper traffic on end. Once at the Fortin homestead, Dan and I spent time in the GFRC office catching up on business status. Dan did remember his cellphone this time and also provided a wonderful consignment that I will discuss shortly. Evening brought a lovely lobster roll dinner at a local eatery followed by Dan and I enjoying 12 year old Dewars scotch and taking in the first installment of my Liberty Seated Dime collection.

 

Osprey Collection Consignment

Following are some extraordinary new offerings from the Osprey Collection. I would suggest that GFRC customers pay special attention to these and consider a FRoR. The eye appeal on each piece is exceptional. Yes, I'm using a fair number of superlatives but they are warranted. Two of the five new offerings are from Dan's PCGS box of 20 as a testiment to the quality.

By the way, Dan is sitting behind me as editor while I describe his coins!

Seated 5c: 1858-O PCGS MS64 CAC and a frosty little gem with substantial cartwheel luster. Lightly toned and an ideal type coin at fair price.

Seated 10c: 1891-O F-103a PCGS MS64 CAC and the soon to be new F-103a "web-book" plate coin. What a gorgeous example with rose-blue patina, frosty cartwheel luster and plenty of die diagnostics on both sides. The old plate coin pales as compared to this example.

Barber 10c: 1905 PCGS MS64+ CAC...essential a gem with pretty rose and light blue ring toning on both sides. Vibrant frosty cartwheel luster is so evident under a halogen lamp. This would be a great mint state type coin! Dan is nodding his head.....

Seated 25c: 1888 PCGS PR65CAM and from Dan's box of 20. A beautiful proof Liberty Seated quarter with watery fields on both sides and light to medium aquamarine patina. What eye appeal.....

Flowing Hair 50c: 1795 PCGS VG08 CAC OGH...gem original for the grade and another from Dan's box of 20. A perfectly original example with medium gray patina. Blemish free regardless of the wear with substantial eye appeal. I expect this one to be sold immediately once images are posted.

 

Crazy Joe Collection Consignment

Crazy Joe is back with a small Capped Bust half dime consignment that arrived on Saturday. I've not had time to attribute the LM numbers.

Capped Bust 5c: 1835 PCGS AU53 Small Date, Small 5c a choice original piece with rich gray-gold patina and satiny luster; 1835 ANACS AU50 a choice example that should be in a PCGS holder due to its sea green-gray patina and frosty cartwheel luster; 1836 ANACS AU50 original frosty silver gray surfaces.

 

Wrapping Up the Blog

With company at the Fortin homestead, it is best to wrap up the Blog at this point.

Overnight brought the sale of two important Liberty Seated half dimes to a Collectors Corner customer; 1849-O PCGS AU53 CAC and 1867 PCGS MS65+ CAC. There is no question concerning the significance of GFRC moving into Collectors Corner as a new marketing channel.

Wishing everyone a great Autumn day. Yes, GFRC will be open for orders throughout the day via email or phone call. Text me also if you wish.

 

 

 

October 13, 2018

ANACS OWH Half Dimes from Dr. Glenn Peterson Collection

Greetings and welcome to a weekend edition of the Daily Blog.

Today's musing will be brief since spending most of Friday away from the office and attending the wedding of a niece. Diane's side of the family has a substantial number of nieces and nephews, fourteen to be exact, which means a predictable number of wedding invitations during the past ten year. This was the youngest niece marking the end to a string of family weddings....at least on my wife's side of the family.

Ok, wild turkey alert! Seven wild turkeys are crossing through the front yard as the Blog is being written.....

Where was I? Oh, the wedding. The wedding was held in Dayton, Maine at an old rustic barn. Luckily, the weather cooperated after rains throughout Thursday and cloudy cold conditions on Friday morning. The late afternoon wedding was conducted outdoors under blue skies and overlooking a pond and Maine autumn foliage.

 

Dr. Glenn Peterson Collection - A Few ANACS Holdered Seated Half Dimes

I'm pleased to be providing a preview of the Liberty Seated half dimes in the Dr. Glenn Peterson Collection. With time away from the office, I was up early and processed the ANACS holdered coin images. Following are four highlights to whet your appetite.

We start with an 1840-O No Drapery V-1 Large 1 which is an R5 rarity in F/VF according to Al Blythe in the Complete Guide to Liberty Seated Half Dimes. This reference will be my primary source of die variety information since no other book has been published since 1992. This book is available on the Newman Numismatic Portal by simply clicking the underlined link.

The 1849 V-6 is a gorgeous little silver piece of American coinage with extra metal on the upper loop and tail of the 9 digit. The 1858 Inverted Date is heavily clashed with satiny blue-gray cartwheel luster and the 1862 half dime is a pretty piece and better than the assigned MS60 grade.

    1840-O ND V-1 Large O ANACS F12  OWH 5C                                     1849 V-6 ANACS AU50 OWH 5C               

    

1858 Inverted Date ANACS MS61 OWH 5C                                                 1862 ANACS MS60 5C                

    

 

Early ANACS Old White Holders

Some Blog readers may not be entirely familiar with the early ANACS holders. For example, the above 1849 half dime resides in early holder with serial number RE8221.

In 1989 ANACS discontinued issuing photo certificates and began encapsulating coins in tamper evident plastic holders. During 1990, the ANA board of governors sold ANACS to Amos Press, publishers of Coin World. The 1849 half dime is encapsulated in the first holder configuration issued after Amos Press of Sidney OH assumed ownership of ANACS. The most notable change is in the hologram on the reverse. The new ANACS logo appears twice and has a red or red-gold appearance. On the front the underprinting is now green rather than blue and simply says "ANACS." This holder was used between 1991 and 1992. Below is an image for your reference. Image quality is not the best but you should be able to catch the point.

 

Dan White and Rose Marie Zergers Arrive Today

Most GFRC friends have met Dan White (Osprey Collection) at a major coin show or at least have read about Dan in the Blog. Dan and his new love, Rose Marie Zergers, arrive to the Fortin homestead this afternoon for a weekend visit. They are traveling through the northeast during foliage sesion and coming to Maine during close-to-peak colors. It will be a pleasure to host Dan and Rose Marie at our home. I'm sure there will be some scotch consumed along with a review of my Liberty Seated dime collection. And yes, lobster rolls will be in order.

 

Featured Coins of the Day

Weekends are usually busy times for coin orders as collectors have a chance to break away from the work week and relax with their hobby. There is no question that Collectors Corners has been an important GFRC marketing step as the rate of new customers has markedly increased.

GFRC has a huge inventory of quality early type coins and continues to add more offerings on essentially a daily basis. Just yesterday, I purchased a seven piece Draped Bust and Liberty Seated half dollar lot, all PCGS grade with some CAC approved, from a collector. A small Capped Bust half dime consignment also arrived and needs to be photographed once a sunny day returns.

Below are six quality United States commemoratve half dollars to consider on a Saturday morning. Note that GFRC stocks those with eye appealing toning. I'm not much of a fan of blast white commemoratives.

1892 Columbian PCGS MS63 CAC 50C                                        1920 Pilgrim PCGS MS65 CAC 50C

    

1934-D Oregon Trail PCGS MS66 50C                                         1937 Antietam PCGS MS66+ CAC 50C

    

1937 Roanoke PCGS MS66 CAC 50C                                          1946 BTW NGC MS66 CAC Fatty 50C

    

 

Thank you for stopping by at the Blog and wishing everyone an enjoyable weekend. I will be in the office until 3:00 pm and still monitoring email for orders after Dan White and Rose Marie arrive.

 

 

 

October 12, 2018

Odds n' Ends on a Friday

Greetings on a cloudy Friday morning in southern Maine. Welcome to a late edition of the Daily Blog.

Today's edition will be a collection of short topics as there is little prepared. Thursday was spent processing Liberty Seated half dime images for slabbed coins within the Dr. Glenn Peterson Collection along with handling a host of phone call and email inquiries on how the sets will be marketed and sold. So let's jump into that topic to kick off the Blog.

GFRC Marketing Plan for the Dr. Glenn Peterson Liberty Seated Half Dime and Half Dollar Sets

The Dr. Glenn Peterson Liberty Seated half dime and half dollar sets present a substantial challenge. Both sets were constructed with the goal of acquiring all listed die varieties in the variety reference books of the collecting period. Therefore for Liberty Seated half dimes, the references were Valentine and Blythe (DLRC Press). For Liberty Seated halves, the primary reference was the Wiley-Bugert book as published by DLRC Press.

I have first hand knowledge of building a substantial die variety set. It is impossible to find strictly original coins for each die variety. Compromises must be made as one never knows when another example of a specific die variety may be located. Cherrypicking is also a variable. At the end of the day, die variety sets will be populated with coins varying in grades and surface conditions. This is the situation for the Dr. Glenn Peterson sets. Therefore much work is involved in preparing the individual coins. Setting fair prices and holdering those that warrant the grading fees are obvious steps.

Following is how I'm approaching the Dr. Peterson sets.

- PCGS and NGC slabbed coins have already been sent to CAC for review.

- ANACS old white holder coins will be initially marketed and sold as is.

- Raw coins will be individually evaluated. Those that I believe will grade at PCGS will be submitted at the Whitman Baltimore show in two weeks.

- Raw coins that are cleaned will be listed as such and sold as is.

Already, I've received many emails and phone calls on gaining access to individual pieces within the Dr. Peterson collections. Collectors are asking if GFRC will market the Peterson collections in the same manner as the Iowa and Mt. View Collections of Liberty Seated quarters. The response is no!

Dr. Peterson has instructed me to start selling his coin as soon as possible. Therefore I'm working towards having the PCGS, NGC and ANACS coins posted to the GFRC price list prior to the Baltimore show and having those coins available at the Baltimore show.

There will be a lag time after the Baltimore show as I wait for the PCGS graded portion of the collections to return. Given my busy November show schedule, the Black Friday sale and migrating to Florida office, I'm expecting the PCGS graded coins to secure attention starting early December once in the Florida office.

 

Worth a Good Laugh: Another PCGS Mechanical Labeling Error

PCGS never ceases to amaze concerning their ongoing problems with mislabeled slabs. Since being the Big Gorilla in the numismatic business, PCGS has been able to continue making labeling errors without an impact to their business. They are fortunate to have a near monopoly else a competitor could come along and provide a higher level of service and quality outcomes. If in other competitive consumer industries, PCGS's lack of outgoing quality control would lead to lost market share until the company finally was enlightened as to the need for improved quality management systems.

Here is a glaring error... An 1839 Liberty Seated Drapery half dollar labeled as a Reeded Edge Capped Bust dollar. Even more laughable is the WB-102 variety attribution which Dr. Peterson paid a separate fee for coupled with the design labeling error. When these issues occur, resolution responsiblity falls back on the collector to resubmit the slabbed coins for correction.

As a separate note, the entire high level PCGS management team has been terminate by Collectors Universe. David Hall, Ron Guth and others are gone. Hopefully, the new management team will bring improved operational experience and methods towards solving their chronic labeling issues.

Worth a Good Laugh! Terrible PCGS Outgoing QC

 

Seth Godin's Blog: Organized for browsing

Up until today, I would use blog postings from Seth Godin to open the Daily Blog. However, this offering from Godin requires much deeper reflection to capture his point. As a reminder to myself that this blog posting is worthy of serious consideration, it has been positioned within the body of today's Blog. The concept of organizing things for creative browsing is new and will take serious reflection for potential application at GFRC.

Organized for browsing

In the traditional world, most things are organized so you can find them when you’re looking for them. That’s why you keep your tools in your tool chest and the forks in the silverware drawer. That’s why books are stored in alphabetical order, by author.

But in the digital world, finding is easy. Type what you want in the search bar.

What we’re still exploring, and not very successfully, is how to organize things for browsing. How do you bump into the thing you didn’t know you were looking for? How do you decide what your next home improvement project should be, or the next movie you should see?

Dancing along the edge of facilitated discovery is one of the most important frontiers that marketers are challenged to do. And we’re not doing it very well yet.

 

Global Financial News

Are we seeing a flight from risk to safety in the past 48 hours?

Spot gold has finally found its legs and is attempting to break out of its recent trading range on the upside. Spot gold has moved to $1225/oz in just two days after being at the $1190 level. Crude oil is holding at the $71.34/bbl level as is Bitcoin at $6236. The 10 year U.S. Treasury bond is yielding 3.17% and a slight pullback from recent near term highs.

Global futures are all pointing solid green and indicating that the recent U.S. market sell-off may have run its course. Following are several Seeking Alpha headlines to consider on a Friday. First up is the kick off of third quarter earning season reporting.

The third quarter earnings season kicks off in earnest today on the heels of a backup in interest rates and a selloff on Wall Street. JPMorgan, Wells Fargo, Citigroup and PNC Financial will all report before the bell, with U.S. futures getting a big bump overnight pending the results. Corporate tax cuts, strength in the U.S. economy, rising oil prices and share buybacks are expected to fuel double-digit earnings growth, but analysts will also be watching how often companies mention tariffs hurting their profits.

China's trade surplus is increasing as the United States economy continues to expand.

China's export engine kicked into high gear in September, producing a record trade surplus of $34.13B with the U.S. that could intensify an already heated trade dispute between the world's two largest economies. The figure further surged to $225.79B over the January-September period as President Trump threatens an additional $267B of tariffs.

Canada must follow the United Staes lead on steel tariffs to avoid being overrun by overseas steel markers.

As overseas steelmakers are shut out of the U.S., Canada is imposing new quotas and tariffs on imports of seven categories of steel to head off a potential rise in imports seek new customers. A tariff of 25% will apply starting Oct. 25, 2018 to imports "in cases where the level of imports from trading partners exceeds historical norms," and cover products like heavy plate, concrete reinforcing bar and energy tubular products.

More science fiction that may turn to reality... Facebook is attempting to develop brain-computer interfaces.

Elon Musk's Neuralink is not alone. Starting as early as January 2017, the staff of a secret Facebook initiative called Building 8 have been working to make the world's first brain-computer interface, Business Insider reports. The initiative includes at least two major publicly reported projects: a noninvasive brain sensor designed to turn thoughts into text and a device that essentially lets you "hear" with your skin.

 

Featured Coins of the Day

Today's Blog has been a wasteland for coin images. Therefore the Featured Coins of the Day segment is absolutely warranted!

The Twin Lakes Collection consignor is in a fund raising mode and hopes to sell a fair portion of his consignment by the end of the Whitman Baltimore show. If there is potential interest in any of the following, then please call or email me. These coins need to be sold at fair pricing for all parties.

Twin Lakes Collection Consignments to Consider

1837 Sm Date PCGS AU58 CAC 5C                                                   1848 F-101a PCGS AU58 10C

    

1905-O Micro O PCGS AU58 CAC 10C                                              1905-O PCGS AU58 CAC 10C     

    

1855 Arrows PCGS AU58 CAC 25C                                                        1889 NGC MS62 25C         

    

 

Thank you for checking in on a Friday morning and wishing everyone a great day. I'm immediate off to the shipping department followed by a health walk. The rains have stopped but there is little chance of sunshine towards photographing coins today.

I'm looking forward to seeing you on Saturday morning at the Daily Blog.

 

 

 

October 11, 2018

Special Kansas Collection Consignment Arrives!

Greetings and welcome to another edition of the Daily Blog.

Thursday arrives with southern Maine experiencing precipitation throughout the day. Therefore, I will be staying put in the GFRC office working through the Dr. Glenn Peterson Collection and loading items into the COIN database. Already, calls and emails have arrived concerning potential Liberty Seated half dime and half dollar dates and die varieties that will come available. These types of inquiries are most welcomed as this is the point for marketing collections in the Blog. My goal is to maintain and enhance the GFRC community and a constant supply of quality offerings is paramount for supporting demand.

Shifting topics to field mice.... the total is now up to 31 killed in the garage. We are making progress as daily trapping is down to one rodent rather than two. At some point, the external supply has to become exhausted...we hope.. On a positive note, no trapped mice in the basement!

 

GFRC Using New Huawei Cellphone

It was definitely time to move away from the old Samsung Galaxy S4 cellphone and that transfer took place on Wednesday. I've migrated to a Huawei cellphone which is the most popular brand in China and probably the largest volume seller in the world. Having a dual band phone with U.S. and China sim cards will simplify my telecommunications challenge when in Shanghai. Having an internet hotspot any where in the world is welcomed.

I'm still learning the Huawei phone and ask for your understanding if I happen to call back by mistake or drop a call. The Android system is configured differently than on the old Samsung.

 

LSCC Leadership Team Meetings Last Evening

The beginning of each month brings not only the release of the LSCC's E-Gobrecht, but also an LSCC leadership team meeting. I can report with confidence that all programs and publications are in good order. Club membership stands at 661 individuals.

The Fall 2018 Gobrecht Journal edition is in the proof reading stage and will be heading to the printers within days. Contained in the Gobrecht Journal mailing will be the following that should be noted;

- Club member dues renewal notice and form (please get dues in quickly and don't procrastinate!)

- Kam Ahwash best Gobrecht Journal article voting form

- LSCC Club Officer voting form (Gerry, Len and Dale are running again for 2019-2020 terms so please vote for us)

As 2018 quickly comes to a close, so does the Premier LSCC Membership Medal program. We still have 90 struck silver medals available to be engraved and sold. The club treasury would love to convert this silver to cash on our balance sheet. Therefore, I am once again making a plea for orders. Following is a second publishing of Jeff Ball's request for more Premier LSCC Membership Medal orders. The order window for this program will wrap up by middle of November. Please consider a medal to commemorate your LSCC membership as an ongoing legacy to family.

Premier LSCC Membership Medals - Order Now!

 

2nd Production Run of Premier LSCC Membership Medals!

Jeff Ball, our new LSCC Special Project Director sent in the following announcement for the Daily Blog!

    

Don’t miss out on this unique opportunity to own and pass down your heritage in the Liberty Seated Collectors Club! We are now taking orders for a 2nd and final engraving run of Premier Silver Medals. The medals are struck and waiting for your name and LSCC number to be engraved.

Oh yeh, you still receive the beautiful custom crafted Capital Plastics holder in which to store your cherished medal. The spectacular Jim Macor design and Dan Carr minting are a joy to hold in your hand.

SPECIAL ANNOUNCEMENT: The maximum number of medals per member has been raised to 5!!!!

Yes, that’s right, you can now order as many as 5 total medals per member/number to share with friends or family.

Here is what LSCC members have shared with us regarding the medals:

“It has been my first chance to respond, but the Medal arrived in the mail last Saturday 8/4 or earlier, not sure. The very quick delivery, quality of the Medal of course and the whole process certainly exceeded expectations big time! Thanks for everyone's efforts from just one of the #s in the membership roster!”
PK

“I simply want to check in and say the medal arrived to me safely and I am thrilled. I should have sent this earlier so you could put a checkmark next to my name.”
BR

“I received my LSCC Medal in the mail yesterday. Well struck and much “eye appeal”... Thank you,
DD

“Got my medal – it looks BEAUTIFUL.”
DD

It’s so easy to place an order TODAY! Simply click on the link below and order via Paypal or US Mail.

http://www.lsccweb.org/Premier-Membership-Medal.shtml

Thank you for your support of LSCC and the Premier Medal program of 2018.

 

Kansas Collection Consignment

It gives me great pleasure to announce the arrival of a top quality and well pedigreed consignment. The Kansas Collection consignor has been with GFRC since 2014 as both a customer and consignor. This individual has an eye for better dates in the best possible preservation states, of course within a budget. This individual contacted GFRC last week concerning the divestment of certain important purchases towards raising cash for a new educational pursuit and tuition.

I'm sure the GFRC community will be pleased to gain access to this marvelous offerings and help the Kansas Collection consignor with his fund raising goal. Following are four great coins to consider.

The 1846 half dime is a special offering for any serious collector of Liberty Seated half dimes.

The 1844 PCGS AU50 dime is from the Woodlands Collection and a gem. It also resides in PCGS old green holder with conservative grading.

The 1858-S dime is a Norweb Collection piece and resides in a 2012-2013 transitional PCGS holder. GFRC also sold this dime into the Kansas Collection when it was consigned by the Saw Mill Run Collection. It comes with the Bowers and Merena October 12-14 1987 auction insert from the Norweb Collection. That auction was held 31 years ago tomorrow.

And finally, we have a marvelous 1877-CC PCGS AU58 Seated quarter with incredible eye appeal. This piece was purchased from Bill Kelly, at the 2017 New Hampshire Coin Expo and immediately sold to the Kansas Collection for $925.

I hope that you might consider these offerings and email potential FRoRs.

Kansas Collection Consignment - Important Offerings for Baltimore Show

 1846 PCGS VF30 5C OGH

              1842-O F-105 PCGS AU50 CAC 10C                                 1844 PCGS AU50 CAC 10C OGH Ex Woodlands

    

 1858-S PCGS VF25 CAC 10C Ex Norweb                                    1877-CC PCGS AU58 25C Ex Saco Valley

    

 

Global Financial News

Thursday opens with sharp movements in the financial markets. Stocks are starting to correct as interest rates increase and poise risks for companies who are living on borrowed time via ultra low interest debt financing. Of course, the 24 hour media loves to amplify significant drops in the equity markets and elevate investor concerns. Constantly reminding investors that there has been a drop in their 401K balance is not wise for long term investing confidence.

The opening Seeking Alpha headline captures yesterday's market movements.

A mix of higher bond yields and growth worries are continuing to take their toll on the markets, with equities across Asia and Europe getting slammed overnight after a bloodbath in the U.S. Led by tech carnage, the S&P 500 and the Dow posted their biggest daily declines since Feb. 8, while the Cboe Volatility index (VIX) surged 43.9% to 22.96.

As far as commodities and interest rates are concerned, there were movements worth covering in today's Blog. Crude oil took a substantial drop from $75 to $71.76/bbl. Spot gold is back to the upper end of its trading range at $1208/oz and Bitcoin fell 5% to $6235. The 10 year U.S. Treasury bond yield also dropped to 3.17%.

On a positive note, inflation is not an issue as a substantial number of people remain unemployed. The current 3.7% unemployment rate discounts all those who have stopped looking for work. This change in unemployment tracking occured during the Great Recession probably for political reasons.

Data from the Labor Department this morning will probably show that the Consumer Price Index increased 0.2% in September after edging up with similar percentage gains in August. The inflation figure will be closely watched by investors as it could signal where Treasury yields will go from here. Separately, data for initial claims for state unemployment benefits is expected to rise to 207K during the week ended Oct. 6, matching the previous number.

 

Wrapping Up the Blog

Let's end the Blog at this point. Again, I will be in the office throughout the day, ready and willing to make a coin sale or deal....

Thank you for visiting with me today.

 

 

 

October 10, 2018

Massive Dr. Glenn Peterson Collection Consignment Arrives

Greetings on a wonderful Indian Summer morning in southern Maine. Thank you for stopping by at the Daily Blog!

Yes, it is Indian Summer time with the temperature already at 70F while the Blog is composed. The sunrise is bright and illuminating the autumn foliage colors. It is a wonderful day to be alive and enjoying the best that Mother Nature can provide on an October morning. Being so excited, I step outside with shorts, t-shirt and bare feet to snap this image of the front yard. Let's remember that within 30 days or so, there could be snow on the ground.....

GFRC Office Front Yard - 7:15 am

 

Loved Losing a Bet!

Don't I love losing a bet! The Tenafly Collection consignor and I have had running bets on the Red Sox and Yankees this year. I won the bet for the pennant race and Tenafly graciously sent along a $1 Money Order that will be framed. Then I took the Yankees for the ALCS and Tenafly went with Boston. Last evening's game was a fitting end to a struggle between two 100 game winning teams. I will gladly send Tenafly his 2018 $1 Money Order as a remembrance of a great baseball season.

 

Great Miata Ride to Portsmouth NH Liquor Store

I called it the $300 drink run! Monday brought a gorgeous afternoon drive to the Maine-New Hampshire state line and a visit to the infamous New Hampshire liquor stores; really an adult play ground. The sun was bright with the Miata needing to be opened up to burn out slow speed carbon build up. I-95 traffic was moving along at 80-85 mph with the Miata performing well and ready for winter storage.

Maine is not the place to purchase wines and spirits with our liquor tax, sales tax plus bottle tax. All are eliminated by taking a wonderful drive south for an hour and incurring $10 or so in tolls. The Fortin bar is now well stocked and will be ready for our Maine return during spring 2019.

 

Massive Dr. Glenn Peterson Collection Consignment Arrives!

During the past week, there has been mention of GFRC insourcing a complete Liberty Seated half dime and half dollar collections by die variety. The time has come to announce that these collections are the property of Dr. Glenn Peterson, JRCS Program Chairman and author of The Ultimate Guide to Attributing Bust Half Dollars. Dr. Peterson's book is frequently used along with Parsley for attributing capped bust halves in GFRC inventory.

The following image best illustrates the consignment magnitude and challenges. Already Glenn's holder coins are off to CAC today and hopefully will be available for the Whitman Baltimore show.

 

Global Financial News

Asian equity markets have stabilized in the near term. Let's have a morning look at Seeking Alpha headlines plus commodities and interest rates.

Crude oil remains closely watched now that Hurricane Michael has been elevated to Category 4 and nearly half of Gulf of Mexico crude oil production is shutdown. Crude is back to $75/bbl. Spot gold remains stuck at the low end of its trading range; $1190/oz. Bitcoin is also in a very tight trading range at $6503. Finally, the 10 year U.S. Treasury bond is holding at 3.22%

Turkish government is intervening towards controlling double digit inflation. This typically does not solve the issue but dictators give it their best.

Unveiling a new set of measures, Turkish Finance Minister Berat Albayrak has promised an "all-out war" on inflation, with the private sector agreeing to cut prices on its goods by at least 10% across the board. The program will also include a freeze on energy prices until the year-end and an acceleration of VAT rebates. Turkey's annual inflation reached 24.52% in September, up from 17.9% in August.

Continued progress is being made in the South and North Korea relationship along with Trump planning a post November 6 election meeting with Kim Jong-un.

Amid improving relations, South Korea is weighing lifting some of its unilateral sanctions against Pyongyang to resume inter-Korean economic projects. The penalties currently ban South Koreans from traveling to North Korea and investing in the communist country. President Trump separately confirmed that his second summit meeting with Kim Jong-un will be held after the U.S. midterm elections on Nov. 6.

The icon of 20th century American retailing is close to bankruptcy.

Sears has hired advisers to prepare for a possible bankruptcy that could come ahead of a $134M debt payment due on Monday, WSJ reports. A Sears special committee is currently weighing a prior offer from CEO Eddie Lampert to acquire the retailer's Kenmore appliances brand and home services business for as much as $480M, but the company may go out of business before the approval. SHLD -23% premarket.

Walmart is exploring selling cannabis products in Canada as that country could be the first to legalize recreational marijuana.

With Canada on the verge of becoming the first major economy to legalize recreational marijuana, Walmart's Canadian unit is exploring the possibility of selling cannabis-based items, but has no immediate plans to "carry CBD products at this time." Shares in cannabis producers have rallied in anticipation of the legislation and the latest news boosted Walmart shares nearly 3% in afternoon trading on Tuesday.

 

Wrapping Up The Blog

That is all she wrote for a Tuesday as I'm well beyond regular publishing time.

Thanks again for stopping by and please do consider a numismatic purchase. As much as I thoroughly enjoy spending two hours a day writing a Blog, coin sales are the imperative towards maintaining momentum.

See you tomorrow with more ramblings.

 

 

 

 

October 9, 2018

Whitman Baltimore - Frost's Barber Exhibit and Fortin's Seated Dime Set Display

Greetings on a Tuesday morning and welcome to the Daily Blog.

Kicking off today's ramblings is proving to be difficult. How often can one write about southern Maine weather, Autumn foliage or similiar topics? I'm bored writing about these items and believe readership is probably familar enough to have their eyes glaze over. Staying away from politics is paramount as constant feedback arrives concerning the Daily Blog being an oasis from the highly charged mainstream media. My role is to provide insightful topics with education and numismatics as the core goals. Selling featured GFRC coins is always appreciated as a reward for committing several hours per day to this publication.

Gerry at Howell's Gun Range: Gray, Maine

Learning to handle firearms is one of my latest undertakings. On Monday, Rick and I decided to try a different gun range within 15 minutes of our homes. We visited a newly built range in Gray Maine at Howell's Gun Shop. Their facilities are pristine with huge gun shopping area, large flat screen TV for gun range safety movie, bathrooms immediately off the range and double ranges for shooting. Prior to entering the range, Rick provided a tour of the shop and explained the various types of makes, calibers and other need to know items when making a firearm purchase decision.

Then we entered the range with our existing firearms; my old High Standard .22 and Rick's new Glock .40. Target practicing was done at 30 and 45 feet with Rick removing the laser sighting on his Glock. In the lane next to us was a local hunter with a 30/30 hunting rifle who was refining his accuracy. Attempting to maintain concentration with a 30/30 rifle firing four feet from us was challenging. The High Standard performed well at both distances but has a tendency to jam. At this session, I become comfortable with clearing jams and continued firing away. Rick's accuracy with the Glock improved dramatically without the laser sighting. Then I started firing the Glock and went through several clips. The Glock is an entirely difference experience with soft trigger (which I hated) and considerable recoil. Let's just say that my target accuracy was pathetic and much more practice is warranted with a larger caliber pistol with quick trigger. We are heading back for another session soon and I will be renting a 9mm towards becoming more comfortable and accurate with larger caliber pistols.

Gerry at Howell's Gun Range

 

CoinWeek Posts GFRC Press Release

Charles Morgan of CoinWeek immediately responded Monday morning to the press release concerning the Gerry Fortin Collection of Liberty Seated Dime being on display at the Whitman Baltimore. We had a pleasant phone discussion towards selecting the best images for dressing up his website post and within a few hours, the press release was nicely presented. Blog readers can view the post at the U.S. Coins headline page. The full press release is available here.

At the Whitman show, Charles will bring his roving video camera and plans to conduct a video interview concerning the history behind the construction of this set since it predates Gardner and Bender.

 

Whitman and Numismatic News Announce John Frost's William and Charles Barber Exhibit

John Frost has been working tirelessly towards a major Barber exhibit event at the Whitman Baltimore show. On Monday, John reported that both Whitman and Numismatic News had published his press release. These releases can be view by clicking the Whitman website announcement and the Numismatic News coverage by Dave Harper. Following is an extract from the Whitman website announcement as written by John Frost. Having the Trepagnier family at the exhibit to discuss their ancestors is a huge accomplishment by John.

The Whitman Coin and Collectibles Baltimore Expo will feature two groundbreaking new exhibits and lectures on personal artifacts from the family of U.S. Mint chief engravers William Barber and Charles E. Barber.

The Expo is open to the public and runs from Thursday to Sunday, October 25-28, 2018, at the Baltimore Convention Center. The exhibits will be on display through Saturday.

The Barber exhibits are being brought to the Expo by the nonprofit Barber Coin Collectors’ Society and Liberty Seated Collectors Club. Both clubs will hold meetings with educational programs during the Expo, and everyone is invited to attend.

The exhibits include recently revealed personal artifacts from the family archives of William and Charles Barber. These artifacts change the popular conception (and misconceptions) of the father and son who served as the fifth and sixth chief engravers of the United States Mint.

Members of the Trepagnier family, Charles Barber’s descendants who currently own the personal archives and have generously allowed them to be displayed, will be in attendance and will meet collectors and talk about their famous ancestors.

 

New GFRC Offerings

The GFRC 30 day price list now has an incredible 284 offerings. I've decided to relist coins that have received a substantial pricing reduction towards renewed visibility. These price reduced items will be featured side by side along with the flow of new coins being posted for the first time. GFRC has been busy preparing a huge inventory for the upcoming Whitman Baltimore show and is looking forward to showcasing 13 cases of quality coins plus two cases with the Liberty Seated Dime set display.

Last evening, I dug into the safe and pulled out a few more Seated dime plate coins from The Definitive Resource for Liberty Seated Dime Variety Collectors. These three dimes had previously been photographed and somehow ended up in a get to it PCGS blue box. Images were processed and are featured next. The "web-book" was also updated with the much improved images.

Look for these three dimes to reach the GFRC price list by afternoon time.

More Liberty Seated Dimes from Fortin Reference Collection

1856 Small Date F-123 NGC MS62 - Plate Coin

1889 F-105 DDR PCGS AU58 - Plate Coin                                      1891-S F-108 NGC MS63 - Plate Coin

    

 

Global Financial News

The U.S. bond market is under pressure as interest rates continue to rise. Let's have a look at this point along with our usual review of global financial headlines.

We start the day with the 10 year U.S. Treasury yield climbing again to 3.26% which is leading to a sell off in the bond market. Crude oil is approaching the $75/bbl level again while spot gold is idling on the lower side of its recent trading range at $1190/oz. Bitcoin is stable at $6608.

As interest rates rise, the United States must be concerned with refinancing existing debt that is rolling over. The same issue is facing corporate America as increased debt financing costs will impact earnings.

All eyes are on U.S. Treasuries again as trading reopened in the wake of last week's selloff and a bond market holiday on Monday. The benchmark 10-year yield crept up to a fresh seven-year high, advancing past 3.26%, marking an increase of about 80 basis points from the start of 2018. U.S. stock index futures look poised for a fourth day of declines in response, down 0.5%, as traders gear up for $230B of Treasury auctions this week.

Pakistan's economy and currency is in deep trouble.... Let's remember that much of that debt is owed to China.

Pakistan's currency tumbled 7% to PKR134 to the dollar overnight after the nation's finance minister, Asad Umar, announced his government would approach the IMF for a bailout for the 13th time in its history. Pakistan's stores of foreign currency now stand at $8.4B - barely enough to cover imports until the end of the year, while the rupee is more than 25% lower vs. the greenback since the beginning of last December.

Now that trade agreements are settled with Mexico and Canada, the Trump administration pivots to China. Both Trump and the Chinese are crafty negotiators.

President Trump will not engage in trade talks with Xi Jinping at next month's G20 summit if China does not produce a detailed list of concessions, sources told the FT. The Chinese say they have such a list, but would not present it without some guarantee of it being received in a stable political climate in Washington, including a point person with a mandate to negotiate on behalf of the Trump administration.

Derivative contracts are the dark side of the financial world. I worry when seeing this topic appear in a Seeking Alpha headline.

Latest Brexit warning... As much as £41T of derivatives contracts maturing after Brexit are at risk unless European officials address regulatory uncertainty, according to the Bank of England. Unless a statement is forthcoming from the European Commission, clearing houses will have to tell their European members such as banks to move their books of businesses, or risk falling foul of European law.

Space as a tourism frontier should be breached within weeks according to Richard Branson.

Virgin Galactic is "more than tantalizingly close" to its first trip to space, according to billionaire founder Richard Branson. "We should be there within weeks, not months. And then we will be in space with myself in months and not years," he told CNBC. Earlier this year, Branson admitted Virgin Galactic was in a closely-fought commercial space race with Jeff Bezos's Blue Origin (BORGN).

 

Featured Coin of the Day

GFRC continues to expand its inventory of quality Liberty Seated and Trade $1. So many of these large denomination silver pieces have been cleaned or restored over the years and found their way into TPG holders. Your challenge, as a sophisticated GFRC customer, is purchasing those that are strictly original and excellent long term values.

Also look for a major Liberty Seated dollar consignment arriving this week. How would an early date proof Seated dollar strike your fancy?

Quality Liberty Seated and Trade Dollars to Consider

1844 PCGS AU58 Seated $1                                                   1846 PCGS AU58 CAC Seated $1

    

1853 PCGS AU50 Seated $1                                                   1872-CC Raw VF35 Seated $1

    

1874 PCGS AU58 CAC Trade $1                                                      1876-S NGC MS64 Trade $1

    

 

Ok, that is a wrap for another Daily Blog edtion. With Indian summer arriving, I will be making that trip to New Hampshire either today or tomorrow. If wishing to purchase any GFRC item, then email is probably best followed by a phone call order. Your numismatic purchases are most important to me!

 

 

October 8, 2018

Indian Summer Arrives This Week

Greetings on Columbus Day and welcome to the Daily Blog.

I'm in a particularly great frame of mind as today's Blog edition is composed. It is Columbus Day which means the United States Post Office is closed and no packing and shipping is due this morning. Then at 3:00 pm, my neighbor Rick and I are heading to the Windham Weaponry gun range for another practice session. Monday is no rental fees day and an opportunity to try out one of their AR-15 style rifles on the range. This will be an adult thrill for sure.

As the headline indicates, Indian Summer arrives to southern Maine on Tuesday and Wednesday with daytime highs at 80F and evenings staying in the low 60s. The Miata is coming out of the garage for a driving season ending wash and road time. The scotch stock is thin so best to head to the infamous NH Liquor store in Portsmouth to restock before Dan White and Rose Marie arrive on Saturday. Yes, quality bottles of wine will also be secured for sharing at Baltimore show Booth 818 towards maintaining tradition.

Speaking of the Whitman Baltimore show, Sunday morning was spent writing a press release to announce the display of my Liberty Seated dime collection at the show. The following press release has already been submitted to CoinWeek, Coin World and Numismatic News. Since I don't frequent the numismatic messages boards, it would be greatly appreciated if Blog readers could copy and paste the following to a post on your favorite message board.

Press Release

Gerry Fortin Collection of Liberty Seated Dimes on display at Whitman Baltimore show.

Gerry Fortin Rare Coins is pleased to announce that a special Liberty Seated coinage set display will be available at the expanded GFRC Booth 818 during the upcoming Whitman Baltimore show.

The Gerry Fortin Collection of Liberty Seated Dimes, a collection assembled during a fifteen year period between 1990 and 2005, will be on display and hosted by Tom Bender and Greg Johnson. The set will be on display from 10:00 am Thursday October 25 through 2:00 pm Saturday October 27. Collectors will be able to inspect and study individual coins when the hosts are available.

Liberty Seated dimes were minted from 1837 through 1891. A complete date and mintmark set comprises 114 pieces and with major die varieties, as published in A Guide Book of United States Coins, the set count increases to 121. All 121 Liberty Seated dimes will be on display with the majority being housed in old PCGS and NGC holders with CAC approval. This set was personally assembled by Gerry Fortin through auction purchases and national show attendance while an executive in the semiconductor industry. This collection predates that of Eugene Gardner and the current Tom Bender Collection; currently #1 on PCGS Set Registry.

Major notable items concerning the Gerry Fortin Collection of Liberty Seated dimes include;

- The finest grouping of San Francisco strikes during the 1860 through 1867 time period.

- The finest 1852-O dime graded NGC MS66 CAC.

- Listed in the PCGS Set Registry since 2004 and awarded nine Gold Awards and two Platinum Awards through 2014.

- An 86% CAC approval rate with 8 dimes being Gold CAC approved. Gold CAC dime highlights include 1839-O PCGS MS65, 1841 PCGS MS65, 1860-S PCGS MS63, 1863-S PCGS MS64 and 1867-S PCGS MS64.

- Top pop dimes include the 1852-O NGC MS66 CAC, 1866-S PCGS MS65 CAC and 1874-S PCGS MS66 CAC.

- Housed in early PCGS holders with conservative grading, full strikes and exceptional eye appeal.

Gerry Fortin is a well known researcher of Liberty Seated dime die varieties. His die variety guide entitled, The Definitive Resource for Liberty Seated Dime Variety Collectors is available at www.seatedimevarieties.com and is the numismatic industry standard for Liberty Seated Dime die variety attributions. Gerry retired from the semiconductor industry during 2013 and immediately launched Gerry Fortin Rare Coins as a new career initiative.

Gerry is also President of the Liberty Seated Collectors Club and an LSCC Hall of Fame inductee.

The Fortin set was last exhibited at the New Hampshire Coin Expo during October 2013 in conjunction with Eugene Gardner's Liberty Seated dime set display. A visit to the Whitman Baltimore show is always fun. Now that a visit can include viewing an old collection of Liberty Seated dimes that has not been through the crack out and upgrade process. Come see old time grading first hand at GFRC Booth 818.

 

White Tail Deer Eating My Burning Bushes

To wrap up the Blog's opening commentary, Sunday also brought white tail deer out into the open on Fortin property. Two large bucks strolled across the back yard and into the front landscaping. Their target? My beautiful red burning bush that was illustrated in Saturday's Blog. They were quite fearless when Buddy was taken out for his afternoon business and simply stared at myself and the dog before Buddy caught their smell.

Later in the day, one buck returned to the backyard, by the brush burning pile, and found other delicacies to munch on. It was pleasant viewing off the back deck during pre dinner scotch and nuts times.

 

More GFRC New Offerings

Sunday was a productive day for processing coin images and placing new offerings on the price list.

Firstly, the Jim Poston lots, with 10% pricing reductions, were marked and featured on the 30 day price list. This action worked well as the 1856-O WB-9 PCGS AU55 Seated half is on hold and the 1866-S PCGS VF20 Seated quarter was the target of a trade proposal. Unfortunately, the trade terms could not be closed but we will try again before the Whitman Baltimore show as the individual attempts to raise some cash.

More consigned coins and the last lot of Barber quarters, from a West Coast collection purchase, are illustrated next. The consigned pieces are already posted to the price lists. The Barber quarters will be on the price list before 3:00pm and hoping for quick sales towards cash flow for new purchases at the Baltimore show.

Newly Consigned Liberty Seated Coinage

1841-O Briggs 3-C DDO PCGS VF30 25C                                           1852 WB-2 PCGS AU Details 50C   

    

Osprey Collection Consignment - Quality Odds n' Ends

1864-L Snow-1 RPD PCGS EF40 1C                1838 F-106a PCGS VF30 10C                      1898 PCGS MS63 10C           

        

 

Final Barber Quarter Lot from West Coast Purchase

This is it! The last of the Barber coinage purchases from a West Coast collection. Hurry on these as they are heading to Whitman Baltimore show in two weeks.

   1911-S PCGS EF45 25C                           1911-S PCGS VF30 25C                          1912 PCGS AU55 25C

        

   1912-S PCGS VF30 25C                             1913 PCGS VF25 25C                                  1914 PCGS AU50 25C

        

   1914-D PCGS AU50 25C                     1915-D PCGS AU55 CAC 25C

     

   

Global Financial News

Columbus Day arrives to the financial markets with an odd situation. Banks, credit unions and the bond market will be closed today but the stock markets will remain open. Asia markets, particularly China, are flashing red futures forcing the Beijing government to react. More shortly, but first a look at commodities and interest rates.

Crude oil prices have pulled back from recent highs and currently quoting at $73.50/bbl. Our dear friend spot gold continues to be locked in a very tight trading range at $1198/oz. The 10 year U.S Treasury bond yield is firm at 3.23%.

As mentioned at the open, Chinese stocks are being hit hard now that trading has re-opened after a long national holiday. Beijing central government is easing bank lending reserve requirements (more aggressive approach towards sustaining the economy with more capital/debt).

Chinese equities slumped almost 4% overnight as traders returned to their desks following a week-long national holiday, and a day after the PBOC moved to inject more cash into the financial system. The central bank's move, which will cut the reserve requirement ratio for most commercial lenders by 100 basis points, comes as policymakers worry about economic fallout from a trade row with the U.S.

The drop in crude oil prices results from assurance that Iranian oil will keep flowing to India after U.S. sanctions are reimposed.

Crude fell overnight as two companies in India, a big buyer of Iranian oil, confirmed 9M barrels ordered for November, suggesting Tehran's exports will keep flowing even after the U.S. reimposes sanctions. Saudi Arabia's crown prince also said the kingdom can tap its spare production capacity immediately to offset any declines in Iranian crude and promised an Aramco (ARMCO) IPO by 2021.

This headline is sobering. Renewable energy growth will not be enough to offset global energy growth demand and only account for 18% of consumed energy by 2040.

Renewable energy will continue to grow rapidly over the next five years, but not enough to meet long-term climate and sustainability goals, according to a report from the IEA. The agency forecasts renewables will account for 18% of the world's energy by 2040, well below its sustainability target of 28%, and added that renewables in transportation and heating is a major "blind spot" towards a clean power future.

And finally, a case of where science fiction becomes the normal.....

Meanwhile, SpaceX aced its first-ever rocket landing in California after successfully delivering Argentina's SAOCOM-1A Earth-observation satellite to orbit. SpaceX has already pulled off more than two dozen first-stage landings during orbital liftoffs, with the boosters coming down on "drone ships" stationed in the Atlantic and Pacific oceans and on terra firma at Cape Canaveral Air Force Station in Florida.

 

Columbus Day Featured Coins - 5% Pricing Reductions

Following are six Liberty Seated dimes from the Gerry Fortin reference collection. I would love to raise cash towards potential upgrading of my base Seated dime set. So let's do a 5% Columbus Day sale on these pieces.

Gerry Fortin Reference Collection Seated Dimes

1859 F-107 PCGS MS66 -  $3050                                                     1863 NGC MS65 - $3950    

    

1865-S F-102 PCGS VF35 CAC -  $1235                                       1870 F-101a PCGS MS64 - $950    

    

      1872 F-102 PCGS MS65 - $2325                                          1878-CC F-102 NGC AU55 CAC - $1565

    

 

Thanks for stopping by at the Daily Blog...... I will be in the office between the hours of 11:00 - 2:30 and then after 7:00 pm if wishing to call in an order.

Hoping everyone has a great Columbus day if not working. Will be back on Tuesday with more ramblings. Take care!

 

 

 

October 7, 2018

Don't Worry, Be Happy......

Greetings and welcome to the Blog on a quiet Sunday morning.

This edition will be brief as there is much on my plate of must get done items. An LSCC President's Message (Fall Gobrecht Journal) and press release announcing the Liberty Seated dime set display at Whitman Baltimore are on the top of the list. Spending time outdoors rather than being constantly in the GFRC office also is warranted for today. Saturday's tree triming project and time with the chain saw was a reminder of why I live in the Maine countryside.

 

Seth Godin: Gloom (and doom)

We open with a great piece of advice from Seth Godin. His post brings to mind Bobby McFerrin's Don't Worry, Be Happy composition. Rather than sowing perpetual gloom among those around you, simply be happy and don't worry about small things in life. There is nothing to prevent the doom part of our lives so let's enjoy the available time towards important causes.

Gloom (and doom)

Doom is inevitable.

Gloom is optional.

Gloom has no positive effects on ameliorating doom.

Doom happens. Gloom is a choice.

 

New 1869 Liberty Seated Dimes - Gerry Fortin Reference Collection

Time to release more Seated dimes from my reference collection. The 1869 is a better date that is far from being common. These two 1869 dimes were posted on Saturday evening and both are already on hold. The F-103 is the Brian Greer plate coin and an important piece of numismatic history along with being a choice original offering. There were three FRoRs on that piece.

1869 Short Flag Seated Dimes - Gerry Fortin Reference Collection

                 1869 F-102 PCGS EF40 10C                                       1869 F-103 PCGS EF40 10C - Greer Plate Coin

    

 

Why Do We Collect Coins?

More emails have arrived concerning the Why Do We Collect Coins? topic. Following is commentary from the Malvern Collection consignor. Now I understand why this individual is wholly focused on the less loved denominations within U.S. Federal coinage.

Like most coin collectors I got started as a kid. My great grandfather, a Civil War veteran, had an old pouch filled with coins from the 1800's. These were a mixture of Two and Three Cent Pieces, a Carson City 20 Cent Piece, Civil War Tokens and various other coins. The oldest is an 1809 Half Cent. These coins were handed down, generation to generation, until I received them.

What I found in that pouch influences my collecting interests today. I like the discontinued denominations and various kinds of tokens. The coins are not only historic but a physical connection to a much different time and to a long deceased relative I never met.

From the teenage years to my late fifties I lost some of my interest in collecting but always kept track of the value of these coins. About five years ago my interest was renewed and I have created various Registry Sets inspired by what was started way back when.

 

Jim Poston Orders a 10% Price Reduction

Jim sent along an email on Saturday requesting an immediate 10% pricing reduction on all GFRC listed items. Following are quick highlights from the Poston inventory that are immediately available at 10% off. Please email me to reserve any of these coins and I will deduct 10%.

Later today, all prices will be adjusted down by 10% on the price list and flagged with New Price marker.

  1861 PCGS AU55 3C Silver                          1856 NGC AU55 CAC 5C                         1905-S PCGS AU55 10C   

        

      1818 PCGS F12 CAC 25C                       1853-O PCGS VF35 CAC 25C                         1866-S PCGS VF20 25C    

        

  1847 PCGS AU58 CAC 50C                  1915-S PCGS AU55 CAC 50C                   1887 PCGS MS64 GOLD CAC $1

        

 

GFRC Consignment News

Denver Collection Consigment

These exceptional offerings are posted on the price list. The 1880 PCGS PF66BN Indian offers incredible eye appeal while the 1875-CC BF-1 NGC MS62 double dime should be immediately scooped up by an advanced collector.

Huge Liberty Seated Half Dime and Half Dollar Consignment

Yes, the three USPS Express boxes arrived on Saturday right on schedule. I've opened one box and blown away by the amount of coins and painstaking die variety attributions. This collection will take some time to properly evaluate, certify, price and market. Stay tuned for updates. First step is to define the collection name. Below is a quick look at the challenge as I'm not kidding here....

 

Wrapping Up the Blog: Don't Worry, Be Happy and Buy a Coin!

As mentioned at the Blog's open, I have a full day of activities to keep me busy but selling coins trumps all! Gerry and his vast group of consignors would be happy if Daily Blog readers were to make purchases.

Thanks for stopping by at the Blog.

 

 

 

October 6, 2018

DLRC Press Liberty Seated Guidebooks on Newman Numismatic Portal

Greetings as Columbus Day weekend is at hand. Welcome to the Daily Blog.

How about Susan Collins and her speech on the Senate floor? A Blog reader texted the following after watching the speech, "Eloquently elevated the entire discussion. Joshua Chamberlin from state of Maine may have saved the country at Gettysburg in 1863. Senator Collins may have done the same 155 years later." Yes, we are proud of our Maine heritage and great leaders including Olympia Snowe, Edmund Muskie, George Mitchell, Margaret Chase Smith and Hannibal Hamlin. Of course, who can ignore Stephen King and Henry Longfellow?

There are a fair number of topics to cover in today's edition; so let's get started. First topic is feedback from Len Augsburger concerning yesterday's ramblings. Great blog said Len but need pictures of the southern Maine landscape and a dead mice counter! Ok Len....following are three images that capture current foliage colors.

Southern Maine Foliage Conditions

          Back 20 Acres                                                                                View from GFRC Office

    

Sugar Maple by Driveway - Always Early Color Change

Dead Mice Count.....

As for a dead mice count...we are up to 27 rodents but surprisingly none this morning in the garage traps. These plastic rat traps from Home Depot work like a charm. A touch of peanut butter in the special cavity positions the mouse for a fast painless termination. Hope no one is bothered by the image as this is country life!

 

DLRC Press Guidebooks on Newman Numismatic Portal

During my conversation with Len, he reported that The Newman Numismatic Portal, with the permission of DLRC, has added three of the David Lawrence reference books on Liberty Seated coinage as follows. Just click on the links to access NNP and the specific book.

Seated Half Dimes (Al Blythe): https://archive.org/details/compguidelibhalfdime1992lawr

Seated Dimes (Brian Greer): https://archive.org/details/compguidelibdime1992lawr

Seated Halves (Randy Wiley and Bill Bugert): https://archive.org/details/compguidelibhalfdollar1993lawr

A shout out is in order for John Bush at Dave Lawrence for making these books available online. The Newman Numismatic Portal interface is ideal for reading or just quickly scanning books. One can also download a PDF file version for remote usage on the bourse floor. No more hauling heavy books to a coin show! Below is a screen capture of the DLRC Half Dime book by Al Blythe as it appears on the Newman Numismatic Portal interface.

 

GFRC Consignment News

Please, please someone buy something out of GFRC inventory as more consignments are pouring in!

Huge Seated Half Dime and Half Dollar Die Variety Collections

Seriously, three USPS Express boxes will arrive today with about $160,000 insured value collection from a new consignor. Included in the shipment are Liberty Seated half dime and and Liberty Seated half dollar collections by die variety. Many of the pieces are raw, with the first step being evaluation for PCGS grading submissions at the Whitman Baltimore show. We've not chosen a name for the collection yet but definitely will be a treasure trove for die variety collectors.

Denver Collection Consignment - Exceptional Type Coins

Following is a new consignment from an individual in Denver Colorado who has decided to part with a few type set duplicates. These offerings are exceptional quality and would please the most selective collector. Pricing discussion will hopefully wrap up today as all pieces are in the COIN database and ready to be posted to the price lists.

Denver Collection Consignment - An Exceptional Type Coin Offering

1880 PCGS PR66BN 1C - Larry Shepherd Collection

                1859-O PCGS MS64 5C                                                       1854-O F-109 PCGS MS63 CAC 10C

    

1875-CC BF-1 R5 NGC MS62 CAC 20C                                               1855-O NGC MS64 CAC 50C         

    

 

Gerry Fortin Collection - Updated San Francisco Liberty Seated Dime Images

Please have a look at Friday's Blog as the San Francisco minted Seated dimes were photographed yesterday with updated images being generated last evening. GFRC photography skills have come a long way in 15 years.

 

Wrapping Up the Blog

So ends today's Blog. I will be in the office during the morning hours and then working outdoors with a chain saw this afternoon. If wishing to place a GFRC order, then emails, text message and phone calls all work equally well.

Wishing everyone a great Columbus Day weekend.

 

 

 

October 5, 2018

Gerry Fortin Liberty Seated Dime Set Display at Whitman Baltimore

Greetings and welcome to the Daily Blog as another traditional work weeks wraps up.

What a beautiful day! Bright sunshine and autumn colors are at hand outside the office window. Burning bushes are bright red and the driveway sugar maple is close to peak crlmson and orange color. Birchs are also transitioning to their yellow colors. Air temperature is a cool 40F and will make for perfect day to be working outdoors.

For some unknown reason, the mice population in southern Maine has exploded. Every person, with a country home that I speak with, has the same observation. Field mice are omnipresent and getting into garages and basements. Last evening, we had dinner with local friends and Rose told the story of opening her kitchen cabinet and finding a mouse munching on her breakfast cereal. At the Fortin homestead, garage mouse traps with peanut butter are yielding 2-3 catches per day. We are well over 25 dead mice and more arrive daily into the garage. Luckily, the basement is quiet as traps and peanut butter have not been touched for over a week. Crows are visiting the property constantly looking for their daily meals.

While writing this edition, wild turkeys just happen to be strolling across the front landscaping. Don't I enjoy country living.

 

Gerry Fortin Liberty Seated Dime Collection Display - Whitman Baltimore Show Table 818 - October 25-28, 2018

The Whitman Baltimore show is less than three weeks away and furious preparations are underway. The "to do" list is prepared and items are being checked off as completed. One of those items was locating volunteers to host my Liberty Seated Dime collection at the show. I'm so pleased to report that two outstanding numismatists have been recruited. These two fine collectors will be hosting the set and allowing visitors to inspect individuals coins outside of the cases. The only steadyfast rule will be only one dime outside of the case at one time per host regardless of the number of visitors or simultanous requests to view these Seated dimes. I'm pleased to announce these two hosts!

Tom Bender - Current owner of the finest set of Liberty Seated dimes in existence on the PCGS Set Registry and the GFRC Open Set Registry. Tom perpetually reminds me of his passion for the Civil War San Francisco dimes in my set. Wasn't it cruel to ask him to host the set for two days???

Greg Johnson - Liberty Seated quarter expert, monthly E-Gobrecht columnist and GFRC consignor plus being a great friend. He makes awesome food runs to Jimmy Johns.

To help brighten up today's Blog, here are the Civil War San Francisco dime from the Fortin set. Yes, I know that 1860-S and 1867-S are not Civil War era but there were too attractive to leave out. Plus.....teasing Tom Bender is too much fun! These images are at least ten years old and probably time to photograph these eight dimes today towards higher resolution plus the CAC green and gold stickers.

1860 - 1867 San Francisco Minted Liberty Seated Dimes

Gerry Fortin Collection

1860-S PCGS MS63 GOLD CAC                                                     1861-S PCGS MS62 CAC     

    

     1862-S PCGS MS63 CAC                                                          1863-S PCGS MS64 GOLD CAC

    

          1864-S PCGS MS64                                                                  1865-S PCGS MS63 CAC       

    

            1866-S PCGS MS65 CAC                                                          1867-S PCGS MS64 GOLD CAC  

    

Please help me spread the word concerning this Liberty Seated set display, at the Whitman Baltimore show, on your favorite numismatic message board! I've been so busy with GFRC business that I failed to make mention of the display in the October E-Gobrecht......what a missed opportunity.

 

More Barber Quarters from West Coast Purchase

There is still a PCGS blue box remaining from the West Coast collection purchase. This box contains Barber quarters from 1906 through 1915 and time to get these on the price list and sold. All are quality collector coins and priced to sell quickly as I don't wish to haul these to the Baltimore show.

   1906 PCGS EF45 25C                           1906-O PCGS VF25 CAC 25C                          1907 PCGS EF40 25C

        

   1907-D PCGS VF35 25C                             1908 PCGS AU55 50C                              1908-D PCGS AU53 50C

        

   1908-S PCGS VF20 25C                             1909-D PCGS VF35 25C                          1909-O PCGS VG10 25C  

        

          1910 PCGS AU55 25C                             1910-D PCGS VF35 25C                       1911 PCGS AU50 CAC OGH 25C

        

 

Global Financial News

We open Friday financial news with commodities and the 10 year bond yield flat to yesterday. Spot gold is quoting at $1206/oz while crude remains at $75/bbl. The 10 year U.S. Treasury bold is yielding 3.2% and Bitcon is quoting at $6544.

Seeking Alpha headlines open with a piece on United States job growth and projection of nearly 200,000 jobs being created in September. No wonder, the 10 year Treasury bond yield is moving up....

The U.S. economy likely created jobs at a brisk clip in September, with anticipated job gains of 191,000 matching the monthly average for the past three months, and the unemployment rate probably falling to an 18-year low of 3.8%. Further suggesting gradual interest rates increases from the Fed, the non-farm payrolls data is expected to show a steady rise in wages, implying moderate inflation pressures and easing concerns about the economy overheating.

This headline is eye opening.... Petrochemical demands for oil will offset the demand reductions by electric vehicles.

Oil demand for transport is expected to slow by 2050 due to the rise of EVs and government efforts to cut carbon emissions, according to the IEA, but that will be offset by rising demand for plastics and other petrochemical products. In fact, the world's energy watchdog sees petrochemicals accounting for more than a third of global oil demand growth by 2030 and nearly half of demand growth by 2050.

Soft spoken Mike Pence is confronting the Chinese over computer hacking and the recent near collision of two destroyers in the South China Sea.

Beijing lashed out overnight at U.S. Vice President Mike Pence after Washington's No.2 accused China of "malign" efforts to undermine the U.S. elections process and "reckless" military actions in the South China Sea. "This is nothing but speaking on hearsay evidence, confusing right and wrong and creating something out of thin air," according to China's foreign ministry. Pence also took aim at Google's (GOOG, GOOGL) Project Dragonfly, saying it would accelerate Chinese censorship efforts.

 

How About A Coin Purchase?

I know that everyone is glued to their computers concerning the pending Bret Kavanaugh vote but there are some great coins in GFRC inventory that would enjoy finding new homes. Can you help?

Here are some small denomination eye appeal coins to consider on a Friday morning.

1906 NGC MS65RD CAC 1C                                                         1830 PCGS MS63 GOLD CAC 5C

    

            1863 NGC PF64 CAC 5C                                                       1840 ND F-102 PCGS MS63 CAC 10c

    

1843 F-104 PCGS MS64 CAC 10c                                                    1845 F-101 NGC AU55 CAC 10C

    

That is a wrap for this edition of the Blog! Thanks for stopping by.

Yes, I'm in the office today with a million things to do but a potential coin purchase will stop me dead in my tracks and will garner complete attention.

Wishing everyone a great Friday.

 

 

 

October 4, 2018

Comments on New Coin World Marketplace

Greetings on a peaceful Thursday morning in southern Maine and welcome to the Daily Blog.

I'm struggling with coherent thoughts to kick off today's edition. Obviously, the first cup of coffee has not had its desired effect and a second may be necessary. Falling back to Maine weather is a safe topic. Clouds, high humidity and an afternoon temperature of 67F means the wood stove will be idle. Friday and Saturday are forecasted to be ideal Autumn days with clear skies, low humidity and highs only in the mid 50s. Saturday is looking like a chain saw day as some downed branches need attention before the leaves start falling.

Speaking of leaves falling, following is the official Maine Foliage update for week of October 3. Northern Maine will be enjoying peak colors during Columbus Day weekend. Let's remember that Maine is a long state. The driving distance from Kittery (extreme south) to Fort Kent (Canadian border) is about 370 miles. That is about a six plus hours drive and hopefully explains the wide foliage color gradient across the state. I've added a Raymond marker on the image below. Obviously, GFRC is located in southern Maine.

 

Debut of Coin World Marketplace

An email arrived from Coin World, on Wednesday, announcing the debut of their new marketplace online application. Immediately, two GFRC friends sent emails pointing out this fact and seeking comments. Instead of writing individual email responses, let's address the matter in the Blog.

Firstly, GFRC will not be a participant at Coin World Marketplace as the product is too expensive for smaller cost-focused dealers.

Coin World Marketplace looks to be a hybrid between Collectors Corner and eBay but with a fee structure similiar to Amazon. So now there are four competiting broad based numismatic platforms for collectors to peruse. Coin World Marketplace's primary selling point is their Escrow Checkout. Essentially, your payment is held by Coin World until purchase is received and accepted. Then the seller is paid. The visual design targets mobile applications which is good for those who browse online with smartphones. For those of us still using desktop or laptops, the visual experience is cumbersome as much scrolling is necessary.

Initial Coin World Marketplace dealers are L&C, Tangible and Rare Coin Wholesalers. These are high margin sellers of modern coins and bullion (L&C) and high mark up rare coins (the other two dealers) and in a position to absorb Coin World's fees. Coin World touts Authorized Dealer and Trusted Sellers and states, "That is why we review all dealers and provide qualitative and quantitative criteria before they are allowed to list products on our marketplace." Frankly, I'm not impressed as there are well known Coin World paper magazine full page advertisers who sell overgraded coins and have done so for years.

For a smaller dealer like GFRC, with niche high quality offerings, Coin World Marketplace is not an option. My reputation for high integrity speaks for itself and if a customer believes they need Escrow Account protection, then they are most likely a casual one time buyer. GFRC focuses on establishing long term relationships with collectors rather than being viewed as a seller of commodity like products to those with limited numismatic experience.

Frankly, I believe Collectors Corner is a much better option for dealers than Coin World Marketplace. The monthly fee is reasonable and the ease of use and updating is consistent with GFRC technology skills and business model. Collectors simply find a coin of interest on Collectors Corner and an email inquiry is initiated. GFRC takes over at that point to work with the client to close the sale. No special intervention with a third party is required to protect the seller or the buyer.

Bottomline.... For smaller niche market dealers with existing client base and strong mailing lists, I don't see a stampede to the Coin World Marketplace. This platform is targeting less experienced collectors who need a helping hand and confidence with a purchase. That alone is a positive step for the industry in cultivating new collectors.

 

GFRC New Consignments

New consignments are arriving on a daily basis and I'm doing my best with quick turnaround times and posting new offerings to the price list. The quality of coins arriving to GFRC is above average with most being assigned Choice quality ratings. Retail prices are also strong for these offerings and not likely that customers will be cherrypicking the price lists for undergraded coins or an unlisted variety. Sorry about that. GFRC is a trading platform for experienced collectors who have a keen sense of long term numismatic value.

The Seal Beach Collection consignor is back with a single piece offering; an important 1851-O Seated half graded PCGS AU55 with frosty cartwheel luster and golden surfaces. Asking price will be settled today.

Seal Beach Collection Consignment - Important Liberty Seated Half Dollar

1851-O WB-3 PCGS AU55 50C

 

Jim Poston sent along two more eye appealing offerings that I'm pleased to be showcasing today. First is a gorgeous 1847 half dime with hammered strike and pleasing obverse rainbow toning. The assigned AU58 grade is ideal for the piece and provides value for collectors. The 1854-O WB-58 Seated half resides in PCGS old green holder and is atypical for the date. So many 1854-O halves come overstruck with bold halo'ed stars, die cracks and frosty surfaces. This AU55 offering is the opposite with its lightly mirrored fields, delicate devices and reflective luster worthy of a Choice quality rating.

Jim Poston Consignment - Eye Appealing Offerings

           1847 PCGS AU58 5C                                                         1854-O WB-58 PCGS AU55 50C OGH

    

 

Global Financial News

10 year U.S. Treasury bond yields jumped overnight to 3.23% leading to more strengthening of the U.S. dollar and an overhang on Asian equity markets. Asian market futures are flashing red. Spot gold has held its ground at $1202/oz in the wake of increasing interest rates. Bitcoin is also flat at the mid $6500 level. Then there is crude oil which again moved up to $76.24 per bbl.

Let's visit Seeking Alpha headlines to gain a sense of what is happening in the global financial markets. Are traders betting that an ongoing 4%+ United States GDP will lead to more aggressive interest rate hikes by the Federal Reserve? Seems it make sense....

A large rise in U.S. Treasury yields is pulling global bond yields higher across the board and boosted the dollar, while stocks fell in response. The 10-year Treasury note is now at its highest level since mid-2011, up 7 bps to 3.23%, as recent comments from Federal officials signaled more rate hikes are on the horizon. Economic figures pointing to strength in the U.S. economy are also causing markets to reassess how far the Fed's tightening cycle will go.

So Saudi Arabia and Russia have quietly agreed to pump more oil towards controlling price increases. The problem is traders are still pushing up prices in anticipation of a robust United States economy and also that of China and Japan.

As President Trump ups his criticism on OPEC to bring down fuel costs, Russia and Saudi Arabia struck a private deal in September to raise oil output and informed the U.S. before the latest OPEC meeting in Algiers. The idea was "to add barrels to the market quietly with a view not to look like they are acting on Trump’s order to pump more," sources told Reuters. It also underlines how the two nations are increasingly deciding oil output policies bilaterally.

In today's world, one must always read the fine print.... Headlines touting Amazon's mininum wage increase did not discuss the loss of bonuses and stock awards.

Following the minimum wage increase at Amazon, warehouse workers will lose their monthly bonuses and stock awards. A report in The Guardian suggests that the change could cause some long-term employees to make less money over time, but Amazon told CNBC that it "more than compensates" for the benefit loss. Affected workers will be able to review the new pay structure and voice any concerns.

FedEx faces a global pilot shortage as e-commerce continues to expand.

With the peak holiday shipping season fast-approaching, FedEx is paying retirement-age pilots bonuses of $40K - and potentially as much as $110K - to keep them flying into next year. The bonuses, reported by Reuters, reveal that a wave of pilot retirements, global pilot shortages and rising cargo demand fueled by the growth of global e-commerce are straining the world's largest air delivery fleet.

 

Wrapping Up The Blog

Wow...8:00 am has arrived and time to hit the upload button on another ediiton of the Blog. Where do the days go?

Thank you for stopping by and please consider a purchase for your collection. I will again be in the office all day other than a rigorous 45 minute health walk. This walk is becoming the highlight of my day!

See you on Friday with more ramblings.....

 

 

 

October 3, 2018

More Fortin/Greer Liberty Seated Dime Plate Coins Arrive!

Greetings and welcome to the Daily Blog on a cool southern Maine morning. Thank-you for stopping by.

Is it already Wednesday? It does appear so based on the calendar. This week is flying by as the Whitman Baltimore show looms in the not too distant future. Preparations are underway and I'm thrilled with the thought of having my Liberty Seated dime set on display at Table 818 along with the entire GFRC inventory (or close to it).

With two solid days of rain and no sunshine, the wood stove has been warming the Fortin homestead. As mentioned before in the Blog, there is nothing like the constant heat of a wood stove to warm the body. I'm still in t-shirt and shorts mode and plan to stay that way until journeying to Florida. There is excess wood available on the 20+ acres so why not burn and be comfortable?

 

Significant Liberty Seated Consignment Announcement Forthcoming

The Peak Collection consignor is back in the States and being active with his Liberty Seated dollar collection. We met during the CONA show for friendly conversation along with the transfer of a single piece consignment. This coin has been under evaluation at PCGS for two weeks with the expected outcome realized. Once this piece is back to the GFRC office, there will be an important announcement concerning yet another great GFRC offering.

 

Wanted: Better Date and Grade Liberty Seated Coinage Consignments

The GFRC business is firing on all cylinders especially with the marketing expansion to Collectors Corner. Come December, GFRC will also be posting its NGC certified inventory on Collectors Corner. Business infrastructure and processes are in place to handle larger value consignments and also entire collections. If GFRC can process and market a 115+ piece Mt. View Collection in a little over a week's time, just imagine what can be done with more expansive and higher value collections. Here are a few points to consider;

- Personalized GFRC Service - GFRC is not a large operation whereby coin evaluation and marketing tasks are distributed among many staff. At GFRC, there is only Gerry Fortin who deals with the consignor and generates all of the outcomes. Service is highly personalized with give and take feedback throughout the sales process.

- Exact Photography Color Matching - At GFRC, photography and image preparations have substantially improved to the point of being an art. Toning colors are faithfully captured without 'juicing up' images. Customers appreciate the "no surprise" aspects of purchasing coins from GFRC given the consistent photography.

- Detailed Variety Attributions - No one in the business spends so much time attributing and describing die varieties. Variety collecting is the new hobby frontier for those who wish to deep dive into a series.

- Daily Blog Marketing - GFRC's cultivation of a broad customer base via the Daily Blog is again unique in the numismatic industry. Instead of building and managing mailing lists, GFRC spends time on value added content and education via the Daily Blog. Instead of pushing numismatic items to former/existing customers, GFRC attracts and pulls an active audience. When it comes time to market a substantial collection, there is a ready audience to view and consider your coins.

I'm seeking a major collection for debut at the Winter FUN show. If there is a possibility, then please feel free to call for a confidential discussion.

 

More Gerry Fortin/Brian Greer Plate Coins Arrive!

At the Philadelphia ANA show, several large PCGS submissions were made including those coins from the Susquehanna Collection. As usual, priority is always given to GFRC consignors first followed by offering Liberty Seated dimes from my own collection. Since actively working on my own core date and mintmark set, funds must be accumulated by selling die variety plate coins. Following is a freshly certified group to consider.

We open with an important 1865-S F-101a PCGS VF20 specimen that was purchased from Brian Greer during 1995. This offering is also the Brian Greer macro image plate coin (page 109, No. 101. 1865-S Depression) for those who may have the DLRC Press guidebook handy. Next to the F-101a dime is the F-105 Fortin plate coin and another Greer macro image plate coin (page 109, No. 104. 1865-S Level Date Centered Between Denticles) and purchased from Greer during March 1993. This purchase was immediately made after the release of Greer's guidebook. I remember Brian shipping me a double row 2x2 slab box for review and potential purchase. Talk about a kick start for a die variety research project that culminated during 2004 with the online release of The Definitive Resource for Liberty Seated Dime Variety Collectors.

Gerry Fortin Web-Book Plate Coins to Consider

1865-S F-101a PCGS VF20 - Greer Macro Image Plate                     1865-S F-105 PCGS VG10 Greer Macro Image Plate 

        

 

Next up are three great Liberty Seated dime web-book plate coins to consider. All are special pieces and finally certified after being stored in cardboard 2x2s since the mid 1990s. Look for these to reach the price list later today.

1866-S F-102 PCGS EF40 10C

 

1868 F-106a PCGS AU55 10C                                                        1870 F-101a PCGS MS64 10C

    

 

Global Financial News

Time for my favorite portion of the Daily Blog... A chance to catch up on global financial news of importance.

Spot gold has found a tailwind and moved up to $1208/oz during overnight trading while crude oil is holding the $75/bbl level for the time being. Bitcoin remains flat at $6456 and the 10 year U.S Treasury bond yield is still slightly short of 3.1%.

Let's open Seeking Alpha headlines with denials from OPEC and Russia that crude oil prices are being manipulated. Would we expect anything less?

Defending OPEC's oil market strategy at the Russian Energy Week in Moscow, Qatari Energy Minister Mohammed Bin Saleh Al-Sada hit back at criticism from President Trump. "OPEC is not trying to manipulate the price, it's trying to bring the market to balance," he declared. At the event, Russian Energy Minister Alexander Novak also said his country has no desire to be a "monopoly" when it comes to supplying gas to European consumers, as work continues on the contentious Nord Stream 2 pipeline.

This is amazingly postive news that you won't find in the "mainstream media". Who would have thought this possible just one year ago?

The two Koreas have taken another step toward peace, removing landmines along the heavily fortified border. Guard posts are also coming down in the so-called Joint Security Area, with the troops remaining there to be left unarmed. Project details were agreed during last month's summit in Pyongyang, where Kim Jong-un met South Korean President Moon Jae-in.

Brexit implementation is stalled and Boris Johnson may challenge Bristish Prime Theresa May for leadership role.

Boris Johnson has laid out a possible leadership challenge to British Prime Minister Theresa May, amid a deep rift within the Conservative Party over the government's approach to Brexit. "This is not taking back control. This is forfeiting control," he told the annual Tory conference, referring to her Chequers agreement. The plan has already been rejected by the EU and several prominent members of the Conservative party.

It is refreshing to see straight talk from JPMorgan's Jamie Dimon concerning ceremonial shareholder meetings.

Jamie Dimon is doubling down on his criticism of shareholder meetings. "I love my shareholders. I speak to them in various forms all the time. But the shareholder meeting has become a farce. That's what it is, we all know that," the JPMorgan Chase CEO declared at the American Enterprise Institute. He also said the meetings, along with excessive litigation and regulation, are preventing many companies from going public.

 

Wrapping Up a Wednesday Blog

The 8:00am regular Blog publishng time has arrived so let's end here for today. Readers well know where to find great coins on the GFRC website and price lists.

I will be in the GFRC office the entire day outside of a 45 minute health walk. Please don't be bashful about calling for potential purchases or consignments. There are many new coins to post to the price list and another 20 or so Barber quarters from a West Coast collection purchase that need image processing and price list posting.

I'm also expecting another important consignment arrival via USPS Express shipment today from a Denver area friend.

Thank you for stopping by at the Blog!

 

 

 

October 2, 2018

Old Bowers & Ruddy Sourced Coins Arrive - Susquehana Collection

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

Yes, it is early; 5:45 am to be exact as today's musing are composed. Early mornings have a typical routine. Checking Red Sox scores from the prior evening and a quick scan of the online media. The latter is to check if global war has broken out as there is little else of positive value these days. If there is no global war, then time for a visit with Seth Godin for thought provoking insights from an incredible mind. He latest Blog says it all about shopping and doing business in the internet age. I believe everyone will quickly capture his point.

Seth Godin: Buyer beware

Buyer beware?

Everyone hated the traveling salesman.

That’s because he came to town, said whatever it took to make the sale, and then left.

In 1900, Sears saw a market opportunity. Their catalog had more variety, sure, but what it really offered was a guarantee. Tens of thousands of people even bought a house from the Sears catalog. They become the twentieth century’s biggest retailer because the company understood the lifetime value of trust—difficult to earn, but worth it.

The internet is going through the same schism right now.

Some folks are happy to sell you something right now, then bye, see ya (or not), because every website is in essence from out of town. With so much pressure on clickthrough rates and yield, it’s not surprising that companies are saying whatever they need to in order to close a sale. Big promises, very little care or support.

At the same time, some successful organizations have taken a completely different path. They’re so focused on maximizing the lifetime value for the customer (and themselves) that they work overtime to tell their customers the truth. It’s not for everyone and it might not be for you. Truth works because it earns trust.

How many times have GFRC customers heard me say during a phone call, this coin is not for you? Trust building means not selling coins at times. It is that simple. Long term trust and personal relationships are much more important than immediate profit.

Maintaining the numismatic hobby for the next generation collectors is a close second in terms of why I devote so much effort into GFRC. Someone must take the time to provide education and stoke the numismatic passion. The tedious challenges of handling the Mt. View Collection of Liberty Seated quarters is an example of what is important to me. There were a substantial amount of quarters priced under $100. Several customers captured this fact and sent the following comments yesterday.

Your operation is designed to provide optically correct photos and detailed information on available coins. As such, it will be cumbersome for coins in this price range. You are giving the same attention to a $50 coin as you would a more expensive coin. That said, you are not just helping a friend, but you are furthering the hobby as well. These coins are wonderful survivors, and they deserve to be showcased.

As an aside, a couple of things.
First, thank you for taking the time to process so many coins that are comfortably within the price range of less well heeled collectors.
Secondly, the gallery of these coins with multiple examples from G4 to VF25 is a wonderful tool for checking grading on seated quarters.
If it could reordered in order of grading, then it would be so much better than the PCGS grading app.
In any case thank you for all you do.

 

GFRC Consignment Arrivals

Now that the Mt. View Collection is in the rear view mirror, it is time to roll out more great offerings leading up to the Whitman Baltimore show.

Susquehana Collection Consignment

The Susquehana Collection consignor has been patiently waiting for this moment. Our relationship initiated at the Philadelphia ANA show when he walked up to the GFRC booth. Friends had recommended the individual to GFRC since I am known for being collector friendly and supportive. He pulls out a plastic sheet of coins in old 2x2 mylar flips and indicated all were purchased from Bowers & Ruddy. For those who have some sense of hobby history, that statement dated these coin purchases back to the 1970s. A quick review of the coins and the grades on the 2x2 inserts further validated the consignor's purchase background.

The first step was sending the lot to PCGS for grading. The 1861 Scott Restrike was the first to return since sent on Express turnaround. That piece is now in the GFRC price list at $6000 and should sell quickly at the Baltimore show once collectors see the piece in hand.

Then the balance of the lot returned and below is the debut of the Susquehana Collection items. These pieces have been off the market for 40 or so years and being fresh is probably an under statement in today's fast paced market.

Please join me in welcoming the Susquehana Collection consignment to the GFRC price lists.

Susquehana Collection Consignment - Bowers & Ruddy Purchases

1822 B-1 PCGS VF25 25c

           1826 O-118a PCGS AU58 50C                                             1830 Small 0 O-104 PCGS AU58 50C

    

 1931-S PCGS MS64RD 1C                     1913 Type 1 PCGS MS66 CAC 5C                        1936-D PCGS MS66 5C

        

 1866-S PCGS F12 25C                           1795 O-109 PCGS VG08 50C                        1833 O-113a PCGS AU55 50C

        

 1892 PCGS MS63 CAC 50C                        1892 PCGS MS 62 50C                                  1936-S PCGS MS65 50C

Columbian                                                            Columbian                                                               Bay Bridge

        

 

Silicon Valley Collection Consignment

Second up is a small but important consignment from the Silicon Valley Collection. This individal only collects 1865 dated coinage and occasionally will part with a few duplicates. Following are two great new offerings including a gem original 1865 Seated half dime with bullseye blues and gold patina on the obverse and solid gold through the reverse. Mintage is only 13,000 with a PCGS pop of 12 at MS64 level. Second is another choice offering; an 1865-S F-101a dime accurately PCGS VF25 with the signature depression by the lower left shield; most likely from grease filled die. Surfaces are perfectly original without blemishes. Both will reach the price list once asking prices are settled.

Silicon Valley Collection Consignment - More 1865 Dated Silver Coinage

           1865 PCGS MS64 5C                                                        1865-S F-101a PCGS VF25 10C

    

 

Global Financial News

The day opens with crude oil prices being pushed higher by traders over Iranian supply cutbacks and growing global demand. Crude oil quotes are at $75.68. Spot gold remains range bound at $1194 as is Bitcoin at $6557. The 10 year U.S. Treasury bond yield is down slightly at 3.06%.

Now to several Seeking Alpha headlines.....

Italy is the latest governance headache for the European Union.

Investors' attention is back on Italian politics, with the euro weakening overnight and local stocks declining after the head of Italy’s lower house budget committee said the nation would have solved its fiscal problems with its own currency. Meanwhile, Italian 10-year bond yields hit a four-year high as European Commission President Jean-Claude Juncker sounded the alarm, saying, "We have to do everything to avoid a new Greece - this time an Italy - crisis." Rome has until October 15 to finish its 2019 budget plan and submit it to the European Commission.

Yes, United States trading partners have protective barriers. Trump finally made progress with Canada concerning their dairy market.

"The announced concessions on dairy in the new USMCA deal demonstrates once again that the Canadian government is willing to sacrifice our domestic dairy production when it comes time to make a deal," said Pierre Lampron, president of trade group Dairy Farmers of Canada. The revamped NAFTA agreement grants the U.S. an expanded 3.6% access to Canada's dairy market and gets rid of a controversial domestic milk pricing class Ottawa had previously defended.

It is so sad to see a South America country fall into ruin and citizens fleeing. The situation in Venezuela is the result of a failed political system and power greed. Let's remember this fact when the socialism swan song is touted in our own country.

Nearly 2M people have fled Venezuela's economic and political crisis since 2015, according to the U.N., which appealed for a "non-political" answer to an exodus that now numbers "some 5,000 people leaving Venezuela daily." Colombia, which has taken in more than a million Venezuelans, called last week for a response, saying the migrant crisis was biting into its GDP and straining regional resources.

I don't support the idea of suing OPEC nations. Rather, let the United States oil industry continue expanding as prices increase. Congress must look busy initiating a response, on a near term basis to its constituents, regardless of the soundness of those actions.

With oil prices hitting fresh four-year highs, long-dormant proposals to allow the U.S. to sue OPEC nations are getting a fresh look by Congress. A U.S. Senate subcommittee on Wednesday will hear testimony on the so-called No Oil Producing and Exporting Cartels Act, or NOPEC, which would allow OPEC members to be sued for collusion on setting prices. Business groups and oil companies oppose the bill, citing the possibility of retaliation from other countries.

 

Featured Coins of the Day

How about some moderately priced eye appealing Liberty Seated halves to close out today's Blog?

Quality Liberty Seated Half Dollars to Consider

1856-O WB-15 PCGS EF45 CAC 50C                                                        1857 NGC AU55 50C           

    

1860-O WB-11 PCGS EF45 CAC 50C                                            1861-O CSA W-15 Raw EF45 50C

    

1862 PCGS AU53 CAC 50C                                                           1862 PCGS AU50 CAC 50C

    

 

Thanks for stopping by and visiting with GFRC on a rainy Tuesday morning. Today will be a massive shipping day after the Mt. View Liberty Seated Quarter Collection debut. Collectors Corner sales are also ramping....this is great news!

I will be in the office the entire day. If interest in a certain offering, then please call to discuss.

See you tomorrow at the Blog....

 

 

October 1, 2018

Morning After Mt. View Liberty Seated Quarter Collection Sale

Greetings and welcome to the Daily Blog as October 2018 has arrived.

I'm sure there are many GFRC customers and friends who are interested in the Mt. View Liberty Seated Quarter Collection sale outcomes. But first, let's jump to other important news of the day.

LSCC October 2018 E-Gobrecht is Published

As we've come to expect, Editor Bill Bugert and his supporting staff of authors have done it again! The October 2018 E-Gobrecht issue arrived to my email Inbox at 7:38 last evening. This is yet another huge edition with CONA news, features on the upcoming Whitman Baltimore show and of course, your favorite monthly columns. Simply click here or on the headline page image below to download the October 2018 edition PDF file.

 

October 2018 E-Gobrecht highlights include the following to consider reading.

The William Barber Revealed exhibit, by LSCC Educational Director John Frost, will be making an encore appearance at the Whitman Baltimore show. The exhibit was first presented at the Philadelphia ANA with a less than ideal location resulting in poor attendance. Whitman's Lori Kraft has provided John with a special four corner quad layout at the October Baltimore show to once again offer his exhibit. John will also give an educational presentation, on the Barber family topic, at the LSCC regional meeting on Friday October 26 9:00am. The Trepagnier family will once again be in attendance at the Frost exhibit and the LSCC regional meeting.

Last call for LSCC officer nomination is made in the October issue. At this time, Gerry Fortin, Len Augsburger and Dale Miller have agreed to run for the upcoming two year terms (January 1, 2019 thru December 31, 2020).

Craig Eberhart is back with his Auction News monthly column and reviews Liberty Seated coinage sales at recent Goldberg, Legend, Kagins and Heritage auctions.

Our NLG 2018 Award winner, Len Augsburger, returns with another great monthly column entitled, The Finer Points of Supply and Demand. Len reviews market trends and how they may be shifting from rarity to eye appeal.

Our resident Seated quarter expert, Greg Johnson, is back with another column entitled, 1876 Quarter Dollar with Lump in the Obverse Shield and a worthy read.

Dennis Fortier, LSCC Regional Team Leader, provides another Regional News edition and is working on a new social project that will be called Seatedfeast New England. You must check this out.

And finally, Benny Haimovitz, our Cracked, Shattered and Terminal monthly columnist, provides a report on an 1887 dime with badly cracked reverse. Of course, the dime was purchased from GFRC.....

 

Mt. View Liberty Seated Quarter Collection FRoR Results

I'll be honest, by the time 8:00 pm arrived last evening, I went to bed and slept through the Mt. View event. It had been a long week of image processing followed by careful pricing deliberations, during the weekend, to ensure fairness for the Mt. View Collection consignor and GFRC customers. The goal was to sell as much of the collection during the FRoR event as possible while recovering Mt. View's cost basis. I believe we did quite well. Following are several sales highlights;

- 19 individuals participated in the FRoR event. Some were all in at their five piece limit while others requested a single coin.

- 36 of the 115 coins were reserved as a result of the event.

- Of course, the 1849-O PCGS F15 CAC quarter was the most popular as fairly priced.

- CAC approved coins did very well and amounted to at least 60% of those reserved.

- Quarters priced under $100 were also popular

Once the Daily Blog is published, I will update the price list for those coins that are now on hold based on the FRoR event. Then each individual who successfully gained access will be sent an invoice for payment. I'll be pulling sold pieces and begin building the USPS Priority box staging process. For trusted customers, once your invoice is validated and payment is committed as being forthcoming, then I will be shipping lots as early as Tuesday.

At GFRC, my goal is fast service and pleased customers along with satistified consignors.

 

Global Financial News

We open the financial week with global equity markers in a positive mood. The United States and Canada have closed a NAFTA deal to start the week.

Commodity prices are a bit dynamic this morning. Spot gold is at the lower end of current trading range at $1190 while crude oil is being quoted at $73.46/bbl. Bitcoin is stable at $6617 and the 10 year U.S. Treasury bond is yielding nearly 3.1%.

The United States and Canada have closed on a new trade deal. NAFTA has been renamed the U.S.-Mexico-Canada Agreement. Canadian and Mexico currencies strengthened against the USD on the news.

Taking it down to the wire, the U.S. and Canada struck a deal Sunday night to revise the North American Free Trade Agreement just before a U.S-imposed deadline of October 1. The pact allows Canada to join the accord reached between the U.S. and Mexico in August. The new agreement, to be officially called the U.S.-Mexico-Canada Agreement, now includes rules for financial services and digital business that have emerged since Nafta was originally signed in 1994. Canada agreed to curb protection for its dairy industry, while the U.S. dropped demands to get rid of special Nafta courts that allow member states to challenge trade restrictions imposed by others. The Canadian dollar gained 0.7% against the U.S. dollar and the Mexican peso jumped 1.1% against the greenback.

In Asia, U.S. and China tensions are increasing as the United States begins to counteract Chinese extension of sovereignty over portions of the East and South China Seas.

With tensions at a heavy simmer, China canceled a high-level annual security meeting with the U.S. planned for mid-October, saying a high-level military official wouldn't be available to meet with Defense Sec. James Mattis. Aside from ongoing trade tensions, the news follows on recent developments in the military arena, including U.S. equipment sales to Taiwan and B-52 flyovers in the East China Sea and South China Sea.

Words on social media do matter to the tune of $40M for Elon Musk and Tesla.

To settle securities fraud charges stemming from his infamous tweet about possibly taking Tesla private, Elon Musk will step down as chairman of the EV automaker but will stay as its CEO in a deal with the SEC. Musk will pay a $20M fine as part of the agreement. Meanwhile, Tesla, which has faced criticism over its board’s composition, will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk’s communications. The company will also pay a $20M fine.

 

Wrapping Up The Blog

Ok, Sleepy September is in the history books and glad it is over. Now all eyes turn to the upcoming Whitman Baltimore show where GFRC will have its substantial inventory available for purchase.

A new deal just arrived to my Inbox this morning and features some incredible eye appealing coins. More on this opportunity later in the week.

If you've been considering consigning some rarities and higher end eye appealing Bust and Seated coins, now is the time before the Whitman Baltimore show. There is roughly a two week window to properly absorb new consignments and have ready for the show.

And with that, I bid you a great first week in October. It will be another busy one at GFRC!

 

 

 

September 30, 2018

Mt. View Liberty Seated Quarter Collection - Available This Evening

Welcome to the Daily Blog on the last day of September. Thank you for visiting!

Saturday was another picture perfect day in southern Maine. Autumn colors are beginning to emerge with the front yard burning bush now a bright red. The magestic sugar maple, along the driveway, is quickly transitioning to orange and crimson. Birches are just starting to exhibits hints of yellow coloring. This year's foilage season should be grand and lengthy due to adequate rains throughout August and early Septemeber.

It is difficult to believe, but in two months the GFRC office will once again migrate to Florida. The Yamatins arrive from Beijing on December 15 and will be hanging out in Venice for several weeks. Between now and early December, the GFRC schedule will become most busy. Dan White and his new love, Rose Marie, will be visiting the Fortin homestead during mid October followed by another get together at the Whitman Baltimore show. The New Hampshire Coin Expo arrives to kick off November immediately followed by a trip to Shanghai for the Yunzhou coin show and a chance to hang out with Harry Zhang, Ricky from Beijing and a host of other coin friends. If all of this was not enough, Thanksgiving and the GFRC Black Friday sale will take place several days after returning from China. This busy period closes with packing the office and heading to Florida.

 

Mt. View Liberty Seated Quarter Collection - Available This Evening

Yes, I've managed to pull off another substantial GFRC project. The Mt. View Liberty Seated Quarter Collection will be loaded to the GFRC price list this evening as committed. Come 7:00 pm ET, the entire 120 pieces will appear on the price list. Each quarter will be published with a quality rating, TPG holder description and price. GFRC customers will have two hours to review the offerings and asking prices. At exactly 9:00 pm ET, those who wish to gain access will submit their requests via email; limit of five coins per person to ensure that the set is evenly distributed among the customer base. I'm expecting multiple requests for the 1849-O PCGS F12 CAC as few ever reach the market. The late date Philadelphia strikes should also be in high demand plus the Civil War era dates.

Good luck to all who will participate in the divestment of the Mt. View Collection. A new ownership chapter will be begin for many of these great set pieces.

 

New on the GFRC Price List

This past week brought a buy-out deal of Jim Poston's recent consignment. These pieces were loaded to the price list on Saturday and are available. Several of my favorite pieces are shown next and are worthy of consideration for immediate sale. By the way, none of these freshly graded PCGS holdered items have been to CAC.

1876-CC F-128 PCGS AU58 10C                                                   1873 Open 3 PCGS AU55 25C

    

  1809 O-103 PCGS EF45 CAC 50C                                               1820 O-108 ANACS AU53 OWH 50C

    

1861 PCGS MS62 50C                                                                         1888 NGC MS64 50C

    

Jim is heading to the Denver Coin Expo this year and will be buying on behalf of GFRC. I'm very serious about walking into the Whitman Baltimore show with a broad based quality inventory towards filling in the expanded Booth 818 footprint.

 

What's Next For the Coming Week?

The arrival of October 1 means deliverables for the upcoming Fall edition of the Gobrecht Journal as published by the Liberty Seated Collectors Club. I owe editor Bill Bugert a full page GFRC ad and a President's Message.

Immediate afterwards, the Susquehana Collection of Bowers and Ruddy acquisitions will be posted to the price list. These should appear on Tuesday. Also in the consignment queue is a small offering the Silicon Valley Collection including an awesome 1865 PCGS MS64 half dime and essentially gem circulated 1865-S F-101 PCGS VF25 dime.

There will be another round of Liberty Seated dime web-book plate coins from the Gerry Fortin Reference Collection that I hope to get into inventory for the Baltimore show.

And finally, another major six figure Liberty Seated collection consignment will be transferred to GFRC next week. This consignment is huge and includes a complete set of Liberty Seated half dimes by variety and Liberty Seated half dollars by die variety (sans the 1878-S). These sets have been built over several decades with many of the coins being raw. Therefore GFRC will first handle the PCGS grading and then CAC submissions before beginning to disclose the contents. There will be substantial behind the scenes efforts towards preparing these offerings for debut at the Orlando FUN show.

The GFRC consignment window is wide open! If you've been considering a pruning of duplicates or divesting an entire collection, then GFRC is here to work for you. No one else in the numismatic industry places so much time and care with image preparations or marketing cherished collections. At GFRC, I'm much more then about selling coins at competitive prices. The exhibiting of collections and setting pedigrees is just as important. Once a collection is sold via GFRC, then the pedigrees are captured in the Sales Archive for years to come.

 

Featured Coins of the Day!

The GFRC business originated with a passionate collector of Liberty Seated dimes deciding to retire and focus on numismatics as a full time business. Following are six Seated dime offerings, from my personal collection, that seek new loving homes.

1853 NA NGC MS64 - Kam Ahwash Plate Coin                                    1865-S F-102 PCGS VF35 CAC             

    

       1872 F-102 PCGS MS65                                                       1876-S Type 1 F-112 NGC MS63 CAC

    

     1878-CC F-102 NGC AU55 CAC                                                        1889 F-101 PCGS PR65CAM        

    

 

Again thank-you for visiting with me on a Sunday morning. Good luck to those of you who will be pursuing acquisitions from the Mt. View Collection!

See you tomorrow morning.....

 

 

 

September 29, 2018

Mt. View Liberty Seated Quarter Collection - FRoR Event Sunday 9:00 pm ET

Greetings and welcome to the Daily Blog on the final weekend in September.

What a busy week it has been! The Mt. View Liberty Seated Quarter Collection client gallery processing is in the GFRC history books and I'm most proud of the outcome and presentation. The entire 120 piece or so gallery is available by clicking here.

So how much work is involved in preparing images of this quality? Glad you asked as sharing a detail flowchart that resulted in the final images might be a worthy Blog topic..... Following is a detailed review of the steps necessary to generate a quality GFRC client gallery.

 

GFRC Image Processing Flow Chart

Step 1 - Photography of the coins in the best possible lighting conditions. You've seen the simple table and camera equipment. The rest is know-how.

Step 2 - Convert all images from JPEG to TIF format before beginning processing. TIF image format is best option for maintaining accurate details during processing.

Step 3 - Aligning the images. For Liberty Seated coinage, the obverse is aligned so that the bottom of the base is parallel to the x-axis of a graph. If a coin is in TPG edge view holder, the position of the prones is noted and employed for aligning the reverse die position to that of the obverse. If the coin is raw or in old standard ring holder, then I align major features to the x-axis of a graph.

Step 4 - Images are cropped to the size of the coin.

Step 5 - Images are color balanced based on the lighting condition and color biases inherent to the camera being used. The goal is to completely match the natural toning colors as seen in sunlight.

Step 6 - Apply contrast and brightness adjustments towards matching the in hand coin appearance under a halogen light at my office desk. This is a visual skill that takes years to perfect. Darkly toned coins have a completely different adjustment profile than lightly toned frosty coins.

Are we tired yet? While Steps 2 through 6 are taking place, images are being uploaded automatically to Microsoft's OneDrive. Step 7 takes place on a second laptop with same images downloaded from OneDrive.

Step 7 - Images are circle cropped so that only a white background surrounds each coin. Images are converted from TIF to JPEG format and saved as 600x600 file. Images are auto uploaded via OneDrive.

Step 8 - Back to the first computer. Obverse and reverse images are merged into final 1200 x 600 high resolution image. Minor color balancing may take place if I don't like the obverse to reverse color matching versus the coin in hand.

Step 9 - The final clean up of images! TPG holder lines and spots are editted out. The editting process is another skill that has taken years to optimize. Then images are sharpened...maybe. It all depends on the specific images. Finally, if the coin is CAC approved, then I add the CAC label as another paste operation.

Step 10 - Image file for a specific coin is done. The file name is editted to the TPG serial number and saved at two sizes; 1200x600 and 300x150. The smaller images are necessary for fast price list downloading. High resolution images are accessed on demand as take longer to download. All images are uploaded to the Hostway file server.

For those who employ GFRC's Photography service, I charge $10 per coin. The Mt. View Liberty Seated Quarter Collection client gallery is already a $1200 time investment on my part before a single coin has been sold. Coins housed in old holders with haze, lines and spots take a disproportional amount of time to process and clean-up.

 

New GFRC Purchases Reaching Price List

I've been so consumed with completing the Mt. View Collection images that little else other than order servicing and shipping has been getting done. Finally, on Friday evening, attention shifted to loading a few new purchases to the price list. Please see several highlights below.

The Jim Poston consignment was bought out by GFRC as is now part of my inventory.

Gorgeous Capped Bust Half Dollar Price List Additions

             1809 O-103 PCGS EF45 CAC 50C                               1826 O-112a NGC AU50 GOLD CAC Fatty 50C

    

 

Wayte Raymond Old Album Toned Seated Half Dime

1858 NGC MS62 Fatty Holder, Undergraded

 

Mt. View Liberty Seated Quarter Collection - Gaining First Access

The offering of a major collection always brings the same dilemma; who will get access to what pieces in the set? To solve this issue, the First Right of Refusal (FRoR) process is utilized as a special event. At a designated time, collectors will be able to send in their FroR requests via email.

Following are the First Right of Refusal (FRoR) Terms for the Mt. View Collection. Please read these terms carefully to ensure the highest probability of gaining access to these well preserved Seated quarters. The GFRC FRoR program is a courtesy to customers and allows everyone a fair chance to access top quality coins. If participating and sending requests, then please be prepared to be a serious buyer if offered coins.

1. First Rights of Refusal window opens on Sunday, September 30 at 9:00 pm ET. Earlier requests will not be honored.

2. FRoR requests will only be accepted from GFRC customers known to me.

3. Please have an awareness of the retail prices for these premiums coins when requesting FRoR. Prices for the Mt. View Collection offerings will be posted Sunday at 7:00 pm ET; a full two hours before the FRoR event. If you can't afford higher priced coins, then please structure your requests to those that are within your numismatic budget.

3. All sales conducted within the FRoR program are on a cash and carry basis. No lay-a-ways or trades will be considered. Check payments and Paypal (+3%) are preferred. Yes, I will take credit cards at +3%.

4. FRoR submissions are limited to five (5) coins per single email. Email time stamps will be checked to determine the FRoR offer priority. Please consider your FRoR requests carefully.

5. Mt. View Collection coins will be posted to the price list starting Sunday, September 30 at 7:00 pm. Those individuals with first refusals will be contacted on Monday morning for a purchase/pass decision. Decision responses are expected within 6 hours else coins will be offered to the next person on FRoR priority list.

 

Mt. View Liberty Seated Quarter Collection Gallery Online

Yes, the Mt. View gallery is done! Below is the final installment that was completed on Friday. The highlight is the CAC approved run of the low mintage 1879 through 1890 Philadelphia strikes (sans the 1887). The scarce 1891-O date is also CAC approved and most attractive with rich blue-gray toning.

Mt. View Liberty Seated Quarter Collection Part 5

View Entire Gallery

 1875-CC PCGS F15 CAC 25c                           1876 PCGS F15 25c                           1876-CC PCGS G06 CAC 25c

        

 1877 PCGS F12 25c                           1877-CC PCGS VG10 25c                           1877-S PCGS VG10 25c

        

 1878 PCGS F15 25c                           1878-CC PCGS F15 CAC 25c                           1879 PCGS F12 CAC 25c

        

 1880 PCGS VG08 CAC 25c                         1881 PCGS F15 CAC 25c                           1882 PCGS F12 CAC 25c

        

 1883 PCGS F12 CAC 25c                         1884 PCGS F15 CAC 25c                           1885 PCGS VG10 CAC 25c

        

1886 PCGS F12 CAC 25c                                1887 PCGS F12 25c                                1888 PCGS F12 CAC 25c

        

1888-S PCGS F15 CAC 25c                          1889 PCGS F15 CAC 25c                           1890 PCGS F15 CAC 25c

        

       1890 PCGS VG08 25c                                  1890 Raw VF20 25c                                1891 MPD 89 PCGS F15 25c

        

      1891-O PCGS F12 CAC 25c               1840 Drap Large O PCGS G04 25c

    

 

Wrapping Up the Blog

Sleepy September is coming to an end with just two days left in the month.

Month to date GFRC sales have reached 73% of forecast. Not attending a regional coin show during September has impacted sales; but then again the consignment backlog going into the Whitman Baltimore show needed substantial office attention. Small business owners always face trade-offs for their precious resources. That is what makes being a small business owner so much fun.

The Collectors Corner installation of GFRC PCGS inventory has resulted in several new customers and orders. This was another positive September milestone.

If you've been considering an order, then please give me a call! I will be in the GFRC office all day preparing the Mt. View Collection listings within the COIN database. Prices have been settled and now the remaining task is writing short descriptions for 120 coins towards Sunday evening's 7:00 pm price list posting. Imagine that....120 coins being placed on the price lists with a single upload......

Thanks for checking in this morning and wishing everyone a great Autumn weekend.

 

 

 

September 28, 2018

Mt. View Liberty Seated Quarter Collecton - Part 4 Arrives!

Greetings on a Friday morning and welcome to the Daily Blog.

One must be living in a shack without power to not have seen the situation in DC unfold on Thursday. Given the tight deadline for rolling out the Mt. View Liberty Seated Collection, I resisted the urge to check online news media until dinner time. The opening statement by Brett Cavanaugh was powerful yet so sad. It is reported that many shed tears while watching. If being well versed in American history, then we are probably experiencing a modern day repeat of the Jacksonian period but on steroids via online media. There are no Hard Time Tokens being struck with political and satirical messages. Rather, all is playing out in real time.

Enough said....

 

Seth Godin: The daily

There is little to add to this blog post by Seth Godin. Remember that your reputation is an asset........build wisely.

The daily

Is there something you do every day that builds an asset for you?

Every single day?

Something that creates another bit of intellectual property that belongs to you?

Something that makes an asset you own more valuable?

Something that you learn?

Every single day is a lot of days. It’s easy to look at the long run and lull yourself into skipping a day now and then.

But the long run is made up of short runs.

 

Mt. View Liberty Seated Quarter Collection - First Right of Refusal Event Delayed to Sunday 9:00 pm ET

Processing images for the entire Mt. View Liberty Seated Quarter Collection has been a substantial project. On Thursday, 33 coins were completed and are featured as a Part 4 client gallery presentation in today's Blog. See below. There are still 25 quarters remaining to be completed today and published in Saturday's Blog edition. As of Saturday morning, the entire Mt. View Liberty Seated Quarter Collection will be available for viewing at its own special Client Gallery link.

Once the gallery is finalized, then attention shifts to pricing and adding short descriptions to the COIN database for 120 coins. This task will consume all of Saturday and probably spill over to Sunday. Therefore, I am delaying the Mt. View Liberty Seated Quarter collection First Right of Refusal event to Sunday evening, September 30, at 9:00pm ET. That will be 6:00pm for those on the West coast. The additional 12 hours are necessary to properly execute this event and have an updated GFRC price list prior to the event taking place. If all goes to the revised plan, the entire 120 set offerings will be posted to the price list by Sunday 6:00pm ET. Your understanding is appreciated and your participation, in the event, will be sincerely welcomed.

The following 33 featured quarters present some of the important highlights within the Mt. View Liberty Seated Quarter Collection. How about the rarest 1859 - 1861 transition period piece, the 1861 Type II/I graded PCGS F12 CAC and so choice at the assigned grade? The run of 1863, 1864, 1865, 1866 and 1867 Philadelphia strikes, in Very Good 10 through Fine 15 grades, is well matched and impressive. Then there are the 1873 Open and Closed 3 pair, both with CAC approval. Handling this consignment and working with each piece has brought enjoyment regardless of the lower circulated grades. Building a complete set of Liberty Seated quarters at any grade level is a substantial achievement. The challenge lies in locating and selecting choice original pieces. The Mt. View Collection consignment has done well.... very well indeed!

Please enjoy the Part 4 offerings of the Mt. View Liberty Seated Quarter Collection.

Mt. View Liberty Seated Quarter Collection Part 4

First Right of Refusal Event - Sunday September 30, 9:00pm ET

View Entire Gallery

 

  1858-O PCGS VG08 25c                         1858-S PCGS G06 CAC 25c                      1859 Type I/II PCGS F15 25c      

        

          1859-O PCGS F12 CAC 25c                   1860 Type II/I PCGS VF25 25c                   1860 Type II/II PCGS VG10 25c      

        

1860-O PCGS F15 CAC 25c                   1861 Type II/I PCGS F12 CAC 25c                   1862 PCGS F15 25c      

        

       1863 PCGS F15 CAC 25c                          1864 PCGS VG10 CAC 25c                         1865 PCGS VG10 CAC 25c      

        

   1865-S PCGS G06 CAC 25c                     1866 Motto PCGS F12 CAC 25c                      1867 PCGS F12 CAC 25c      

        

    1867-S PCGS VG10 25c                              1868 PCGS F15 25c                                    1868 PCGS F12 25c      

        

        1869 PCGS VG08 CAC 25c                      1870 PCGS VG08 CAC 25c                       1870 PCGS VG08 CAC 25c      

        

          1871 PCGS F15 25c                            1871 PCGS F15 CAC 25c                             1872 PCGS F15 CAC 25c      

        

   1873 NA O3 PCGS VG08 CAC 25c             1873 NA C3 PCGS G04 CAC 25c                  1873 Arrows PCGS F15 25c         

        

           1873-S PCGS F15 CAC 25c                         1873-S PCGS G04 25c                           1874 Arrows PCGS F12 25c         

        

    1874-S PCGS F15 25c                                  1875 PCGS F12 25c                                  1875 PCGS VG08 25c

        

 

Special Price Reduction Announcements

Phone calls and emails arrived on Thursday from two consignors wishing to substantially discount their Liberty Seated half dollar offerings towards locating buyers. Those two pieces are the 1844-O Double Date housed in NGC AU55 holder and the recently added 1861 Scott Restrike graded PCGS Mint State Details from the Susquehanna Collection. Following are the two offerings at their reduced prices. Full descriptions can be found on the price lists.

Liberty Seated Half Dollar

1844-O Double Date WB-103, WB-22

Graded NGC AU55 - Reduced to $6500

 

Liberty Seated Half Dollar

1861 Scott Restrike on CSA W-13 Die Crack Bisected Date Base Coin

PCGS UNC Details (Obverse Mount Removed) - Reduced to $6000

 

Global Financial News

This segment opens with interesting news concerning spot gold, down to $1187/oz, to open the day. Crude oil is holding strong at $72.26/bbl while Bitcoin is also moving up at $6,656. The 10 year U.S. Treasury yield has dropped to 3.04%.

It appears that eastern central banks are the major buyers of physical gold during 2018. Now Poland is becoming active.

Central banks have emerged as some of the biggest buyers of gold this year, buying a total of 264 metric tons this year to reach the highest level in six years, according to analysts at Macquarie. “The only unambiguously positive sector for gold at the moment is central banks,” Macquarie says, as the price of gold has tumbled 10% so far this year and slid near a six-week low at $1,187.40 per ounce. Poland added to its gold reserves last month, buying more than seven tons of gold, which followed its purchase of two tons in July, according to IMF data; gold buying has long been dominated by Russia, Turkey and Kazakhstan, and Poland's purchase, if confirmed, would be the first by a European Union member this century, according to Macquarie.

As the Federal Reserve continues to raise borrowing costs, the impact is being felt in the housing market. 4.72% still appears inexpensive for those of us with a memory before 2007 timeframe.

Mortgage rates in the U.S. jumped to the highest level in more than seven years during the past week, according to Freddie Mac's latest market survey. The 30-year fixed-rate mortgage rose for the fifth straight week, adding seven basis points to an average of 4.72% for the week ending September 27, up from 4.65% in the prior week, and the 15-year FRM averaged 4.16%, up from 4.11%. Homebuilder stocks posted broad losses, in part on the higher mortgage rates and the likelihood of continued increases with another Fed rate hike apparently set to come before the end of this year.

Italy and the European Union are at odds over projected fiscal deficits.

European markets are weighed by political turmoil in Italy, where the new anti-establishment government proposed a 2019 budget with a much wider deficit than the previous administration’s target, setting up a clash with the European Commission. The government late Thursday night offered a budget with a deficit of 2.4% of GDP for the next three years, in a defeat for its economy minister, who had sought a deficit set as low as 1.6% next year, hoping to respect European Union demands that Italy progressively cut the fiscal gap to trim its debt. The full budget will be unveiled in October and will be scrutinized by the European Commission, which could reject it.

Maybe words do matter on social media! Elon Musk finds himself in hot water with the SEC. Being sued for security fraud is not small matter.

The SEC is suing Elon Musk, accusing the Tesla CEO of securities fraud and seeking to ban him from serving as an officer of a publicly traded company. The SEC complaint alleges that Musk issued a series of "false and misleading" statements and failed to properly notify regulators of material company events last month when he tweeted about possibly taking Tesla private, saying “funding secured.” In response, Musk said, “Integrity is the most important value in my life and the facts will show I never compromised this in any way.” Tesla’s board says it is “fully confident” in its CEO, and Musk signals that he may not go away quietly. The Wall Street Journal reported that the SEC had crafted a settlement with Musk that it was preparing to file yesterday morning but Musk’s lawyers called off the agreement. Shares tumbled as much as 13% in after-hours trading.

 

Wrapping Up the Blog

I will be in the office the entire day attempting to complete the Mt. View Liberty Seated Quarter Collection images for Saturday's Blog.

Any order would be cherished as Sleepy September is quickly coming to a close.

Thank you for checking in at the Blog and wishing everyone a great close to the last week in September.

 

 

 

September 27, 2018

Mt. View Liberty Seated Quarter Collection - Part 3 Arrives!

Greetings and welcome to the Daily Blog on a Thursday as all eyes will be focused on Washington DC and the sad drama that is playing out. Enough said.

Adult Fun at Windham Weaponry Gun Range

On a positive note, I spent several hours on Wednesday afternoon at the local gun range with my neighbor Rick. Windham Maine is home to Windham Weaponry, a manufacturer of high quality AR type rifles. Windham Weaponry also has a show room and shooting range adjacent to the manufacturing building.

Rick brought his newly purchased Glock pistol and old .357 Magnum revolver while I brought my father's High Standard 0.22 Long Rifle pistol. It had been 45 years since shooting the 0.22 pistol with my father in a Lewiston sand pit. After a quick class on handling firearms, Rick and I hit the range and had a great time. Adjacent shooters were enjoying their Windham Weaponry rifles with the loud sounds and concussions. Rick's Glock had laser sighting and was so much lighter than my High Standard 0.22 but with considerable recoil. The High Standard 0.22 was a pleasure to fire as smooth and accurate at 50 feet and even at 75 feet, the shot clustering was decent.

Rick and I are planning another gun range event in two weeks. On Mondays, there are no gun rental charges. We are free to explore the wide range of firearms on sale and only paying for ammo and range time. We probably will not resist the urge to test drive an AR type rifle for the experience.

 

Why Do We Collect Coins?

Today's Why Do We Collect Coins offering is from a great friend, Michael Sandoval, in the Denver area. Michael was one of my students at the first LSCC sponsored ANA Summer Seminar class entitled Developing a Passion for Liberty Seated Coinage. Michael and I have shared ongoing dinners and enjoyable conversations surrounding the collecting attitudes and needs of the Millennial generation.

Was first introduced to coin collecting, like many others, as an 8-year-old fascinated with all things historical (ended up a history and art history major later on). My grandfather owned an old Italian grocery store in Denver, and through that I came across all the "interesting" coins that ended up in the till--junk silver was still seen frequently in the late 1980s, as well as lots of odds and ends like tokens, silver certificates, legal tender. Wheaties were in plentiful supply, but a buffalo nickel was a rare prize. Being a grandson I would spend time on Saturdays helping out, and once folks knew I collected coins, they started bringing in material to share. The most peculiar piece to me as a kid was the 1908-J 5 Heller coin from German East Africa. No idea how it made its way into my hands in Denver in 1988-89, but that must have been some adventure!

My Mother recognized my interest and we did the coins-for-good-grades deal. Started out collecting type, outside of the odds and ends via the family store, at a local B&M. Years later I found out that most of the pieces were details coins, but appreciation in the intervening quarter of a century, plus the sentimentality of being my original coins cancelled any feeling of disappointment. Consider it the earliest tuition paid.

Of course, in just a couple years I got distracted by sports as a young teen, first baseball (which I wasn't good at) and then basketball. Switched collecting focus to sports cards for a time. Then came high school, girls, jobs, and college, followed by teaching and writing. My old coins sat in a small briefcase my Mom gave to me. After my grandfather retired at the age of 83! in 1995, he told me he had some coins that he was leaving to me. When he passed in 2001, I discovered it was a hefty accumulation of junk to uncirculated silver from Morgans and Peace dollars to the usual mini-hoards of Mercury dimes, Walkers/Franklings, Washingtons, and sizable buffalo nickel and wheat penny stacks. There were also plenty of original rolls from the early 60s, and a decent chunk of currency, including high denomination small size notes. I didn't need the money at the time, nor did I have plans to sell, as I treasured anything my grandfather left me, so I packed it up into a couple boxes and left it at my parents' place, as I was in college and would be moving around for the next decade.

Fast forward to 2013. I had moved to DC for work but decided to go in a different direction and was job-hunting in June of that year. I flew back to Denver and pretty much on a whim asked myself, "I wonder what's in those boxes?" My grandmother had set aside her own stock of silver (easily picked up by owning a grocery store) but had cashed in most of it at lower prices in the early 2000s. But a few old wine jars remained and I decided to go through all the coins with a newly purchased loupe and a fresh Red Book.

Laying in the midst of everything was a 1942/1 D Mercury dime, now housed in a PCGS VF25 CAC holder. I couldn't believe it! Easily one of my prized coins and so glad my grandfather set aside these coins so many decades ago.

Those discoveries got me back in the numismatic groove. While I did experience the euphoria and BUY ALL THE THINGS mentality of a reignited collector, the damage was limited to small purchases. I quickly adopted the mantra of buy the book first and buy the coin not the holder, and became quickly familiar with forums and information, including your blog, and managed to steer away from the eBay pitfalls. Thankfully an inherent "that's too good to be true" attitude was in place.

Collecting coins is part of a broader collecting impulse, one that we have discussed while you were in town.Though coins are certainly central to my collection, they are part and parcel of a larger collecting/curating strategy. I wish to preserve as much as possible the things I think are cool; to study them and add to general knowledge of history, and for keeping them in good condition for the next round of collectors and historians. This includes paper ephemera, political items, books/magazines/newspapers/posters, militaria, and any other eclectic historical item I can find. There is a bit of a hoarder mentality that many collectors share as well, almost impulsive, but in our cases, balanced out by learned study and research, and the desire to share our knowledge and interests with others in the collecting community through our local coin clubs, local shows, interacting with dealers like you, and attending events like ANA Summer Seminar.

We crave knowledge and insight as much as we do the physical possession of the items. I happen to enjoy numismatic and other collectibles that are in their original packaging, unsearched or untouched for decades. Perhaps it was all those original bank rolls from my grandfather's hoard, but it's cool to see mint or even just original coins that are decades old fresh from a roll or box.

That is not my whole collection, of course, as quality TPG/CAC coins of various denominations and series, quality raw coins acquired after spending long hours studying AFTER instruction by mentors willing to share their experience and expertise. Gold and Seated materials immediately come to mind.

Not sure that anyone has mentioned this but different parts of our collections likely reflect different aspects of our collecting mentality, consciously or not. We are sometimes drawn to things we least expect or set out to follow, and financial as well as collecting discipline must be employed.

Anyway, thought I'd share these reflections.

 

Mt. View Collection of Liberty Seated Quarters - Part 3 Gallery

Wednesday's priority, other than time at the gun range, was assembling another installment of the Mt. View Collection of Liberty Seated Quarters towards the Sunday morning 9:00 am First Right of Refusal event. Following are some cool offerings to consider. Let's remember that the Mt. View Collection consignor not only built a complete Seated quarter by date and mintmark but also completed the Top 25 Varieties set. Embedded in this 120 piece offering are some great CAC approved Top 25 Varieties like the 1853-O Filled O mintmark (PCGS G04 CAC) and O/Horizontal O (PCGS G04 CAC), and also 1854-O Huge PCGS VG10 CAC, and a very late die state 1854-O Crumbled Die Obverse graded PCGS PCGS F12. The 1857 Smoking Liberty and Flying Eagle Clashed reverse die varieties are also well represented within today's gallery.

The beauty of the Mt. View Collection offerings is the ability to acquire semi-key dates and major varieties while still maintaining a reasonable budget. These piece are lower grade but high quality for the grade levels. My apology for placing the 1842-O Large Date PCGS F15 CAC piece out of sequence due to a photography redo...

So remember....FRoR event is this Sunday (September 30) at 9:00pm ET. All FRoR requests wil be rolled up on Monday afternoon and published in the October 2 morning Blog. Then on Tuesday, I will be contacting those GFRC customers who gained FRoR access. My hope is to have all 120 Mt. View Seated quarters posted to the price list by Sunday noon time with prices and GFRC quality rating. Descriptions will come afterwards as the workload is simply staggering for one person to accomplish in a short period of time (and maintain regular GFRC business).

Mt. View Collection of Liberty Seated Quarters Part 3 - A Gallery Work In Progress

Sunday September 30, 2018 - First Right of Refusal Event

 1842-O LD PCGS F15 CAC 25c                      1853 NA PCGS F12 25c                            1853 NA PCGS F12 25c   

        

              1853 A&R PCGS VG10 25c                      1853/4 PCGS F15 CAC 25c                 1853-O Filled O PCGS G04 CAC 25c   

        

    1853-O O/Horiz O PCGS G04 CAC 25c                   1854 PCGS VG08 25c                 1854-O Huge O PCGS VG10 CAC 25c   

        

1854-O Crumbled Die PCGS F12 25c                    1855 PCGS F15 25c                                 1855-O PCGS G04 25c            

        

1855-O PCGS F12 25c                                  1855-S PCGS F12 25c                               1855-S PCGS VG10 25c

        

    1855-S PCGS VG08 25c                         1856 MPD PCGS F12 CAC 25c                     1856-O PCGS F15 CAC 25c

        

 1856-S PCGS F12 25c                         1857 Smoking Lib PCGS F12 25c                     1857 FE Clash PCGS F15 25c

        

 1857-O PCGS F12 25c                         1857-O PCGS F15 25c

    

 

Global Financial News

We open another financial day with commodities holding steady and a slight drop in the 10 year bond yield. Crude oil is quoting at $72.30/bbl while our poor friend, spot gold remains range bound at $1200/oz. Bitcoin is also flat at $6465. 3.04% is the latest quote for the U.S. 10 year Treasury note.

Global equity markets are down slightly in reaction to the Federal Reserve 0.25% rate increase on Wednesday and another planned for December. Clearly the cost of borrowing and accumulating debt will increase. How I enjoy living life with no debt whatsoever.....

Global stocks also continue to decline following the Fed's rate hike, with all indications that a fourth will follow in December. Markets closed down in Asia, with Japan's Nikkei down 1% and Hong Kong's Hang Seng Index slipping 0.4%. The Shanghai Composite Index declined 0.5%. Australia's ASX index fell 0.1%. In Europe, the Stoxx 600 Index is off 0.5% at last check.

Japan and the United States will be working closely on bilaterial trading agreement.

Continuing his mission to re-set trade with the U.S.'s partners, President Trump and Japanese Prime Minister Abe have agreed to start trade talks in an arrangement that for now protects Japanese automakers from further tariffs. As part of the agreement, Abe said the U.S. would not impose additional tariffs on the auto sector, while also protecting the politically important farm sector from access that goes beyond the terms in the Trans-Pacific Partnership agreement that Trump abandoned last year. U.S. Trade Representative Lighthizer said the talks would occur in two “tranches” with hopes for an “early harvest” from the initial talks on lowering trade barriers.

Did you know that the U.S. Strategic Oil Reserve contains only 660M barrels of oil?

The Trump administration isn't considering releasing oil from the Strategic Petroleum Reserve to reduce the impact of coming U.S. sanctions on Iranian crude oil exports, Energy Secretary Perry says. The effects on the global market from an SPR release would be "fairly minor and short term," he says, adding that the world market has enough supply to compensate for the expected loss of Iranian crude oil exports when U.S. sanction take effect Nov. 5. The entire U.S. Strategic Reserve holds just 660M barrels of oil.

 

Featured Coins of the Day - Salting Away Some Gold

I've said it before and will say it again. The best time to purchase is a commodity is when it is out of favor with investors. Multi-year patience and foresight are characteristics of savvy investors. The issue with today's culture is instant gratification and making trading monies on a short term basis. Physical gold is a boring safety asset and one of the few items on earth with substantial value that remains private.

We should recognize, from the Kavanaugh event, that greed and power will overwhelm morals and decency. Our trust in politicians probably deserves careful scrutiny. If one day, the system checks and balances are substantially eroded, then who can guarantee a benevolent outcome for the masses? At my age, protecting a life's wealth accumulations is of much higher priority than activism. Gold bullion has been the asset of choice for centuries and remains a safe haven. Therefore I continue to slowly salt away gold bullion and hope there is never a need for its usage.

GFRC continues to offer a wide range of quality gold including $10 and $20 pieces with reasonable premiums above bullion. On the other hand, building a United States gold type set can be a fun pursuit. Gold coins grading at the MS63 or MS64 level, with CAC approval, are numismatically attractive and a store of wealth. Following are a few GFRC offerings to consider.

1854 PCGS MS63+ CAC G$2.5                                                   1898 PCGS MS64 CAC G$2.5

    

1901 PCGS MS64 CAC G$2.5                                                   1907 NGC Fatty MS64 CAC G$2.5

    

1881-S PCGS MS64 CAC G$5                                                   1882 NGC MS64+ CAC G$5

    

So ends another Blog edition on international roadside trash pick up day. The recycling and trash are indeed by the road and time for a quick health walk before another day of processing Mt. View Collection images and hopefully, handling a few orders.

Thanks for sharing part of your day with me at the Blog!

 

 

 

 

September 26, 2018

Mt. View Liberty Seated Quarter Collection - Part 2 Arrives!

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

Southern Maine weather has shifted and an old friend came to the rescue. There is nothing more comfortable than a wood stove for heating a home. Some readers will cite the trouble of hauling and storing wood and of course, removing ash every few weeks during winter burning season. Yes, those can seen as inconveniences by some and a lifestyle by others. Wood heat is powerful and consistent without cold air drafts. Once the brick thermal mass in a passive solar home is charged, then there are no temperatures fluctutions other than during sub zero weather. This morning's attire is shorts and t-shirt and I hope to keep it this way until the Florida migration.

Seth Godin's Blog: High value

I'm pleased to report that Seth Godin is back to issuing concise Blog posts that are stimulating and powerful. The following post rings so true based on marketing and sales experiences. Pricing a product or service is a challenging exercise as value is perceived differently by a host of potential buyers. Some sales people love the simplicity of cost plus pricing. One takes the all in cost and adds a consistent profit margin to arrive at a sale price. This approach is acceptable for commodoties in a competitive market. The pressure fails back on operations to lower manufacturing costs as the sales people will always blame an out of line cost structure when unable to meet sales goals.

Pricing a differentiated product is much more difficult as the marketing and sales staff must do their homework and assess market value. Market value can be difficult to quantify as value is a perception of usefulness and desirability. The best in sales have this innate ability to understand product usefulness and set prices accordingly. Apple is an example of a company that has turned assessing market value into a science.

High value

… is not the same as low price.

The price is obvious. It can be seen from a mile away. But value is more subtle. It often needs to be experienced to be understood.

The price is the same for every person who buys that item at retail. The value is different for everyone.

Low price is the last refuge for marketers who don’t have the patience or guts to demonstrate value for those that need it.

 

GFRC Increases USPS Express Insured Value to $60,000

I'm pleased to announce an incremental service for GFRC consignors. Effective immediately, consignment shipped to GFRC using USPS Express will be insured up to $60,000. The previous level was $30,000. GFRC utilizes Hugh Woods for its business insurance. As consignment shipment values continue to increase, it was time to reassess insurance coverage and streamline the transfer process.

Before shipping consignments to GFRC under GFRC's insurance coverage, please contact me for the procedure. A procedure must be followed exactly for insurance coverage to be extended to consignors. Consignors will be responsible for paying the regular USPS Overnight Express rate at their local post office but will not need to deal with additional insurance coverage.

 

Why Do We Collect Coins?

Today's Why Do We Collect Coins offering is from the Running Boar Collection consignor. I first met this individual at the Central Ohio Numismatic Association (CONA) show back in 2016 and soon the relationship blossomed. Now this individual is yet another regular GFRC consignor and demonstrates the power of GFRC attempting smaller regional shows as part of an annual show schedule. The many relationships are priceless.

Few if any collectors contemplate their motivations. Maybe after sustained years of study do they begin to ask the questions “just what am I doing and why?” For me, it all began because I thought old coins were cool. When I received my 41 to Date Lincoln folder the worm turned. I discovered that you could buy coins when I purchased a PDS set of AU 1943 steel cents to plug into the holes.

When I returned to the hobby after a 15+ year hiatus, the game had changed. I enthusiastically plunged in learning many new things. Fortunately, I was mentored by several experienced collectors. There were fits and starts, pain and pleasure however I hung with it. I tried to use every mistake as a springboard to a new level. Never being athletically inclined, I had found a world where I could compete. This helped me through some difficult periods because coin collecting was my life preserver. I would work and scrimp for a show 6 months out, living for the chance of scoring some piece that other collectors might desire and be sad they missed out on.

Now as I come into the twilight of my collecting years, I find new ways to keep that fire burning. I have completed collections based on type, year and variety. A dealer friend and I performed a top to bottom assessment of my holdings. We identified ways to bring my collection up to a higher level of achievement. That process helped me really understand my skills and depth of knowledge. Now any acquisition strategies are well thought through from pursuit to liquidation. I’m aiming for a collection that, if the bottom fell out of the market tomorrow, I could sit on a long winter’s night with a belly warmed by good whiskey, the company of long cherished friends and a deep sense of personal satisfaction.

 

New Woodbridge Collection Consignment

The Woodbridge Collection consignor is an active collector and building an advanced set of Liberty Seated quarters by date and mintmark. I have the pleasure of seeing this individual at major shows. His strategy is to quickly divest duplicates towards cash recycling for incremental upgrades. GFRC is now his primary outlet for duplicates and so far, we've done well towards locating new homes for his quality coins.

Last week brought another small consignment. Already, there are two FRoR on the books after posting this following client gallery last last evening. The 1872-CC half is really nice....

Woodbridge Collection Consignment - Quality Liberty Seated Coinage

1872-CC WB-9 NGC VG8 CAC 50C

1853 A&R PCGS EF40 CAC OGH 25C                 1861-S PCGS VG08 25C                              1883 NGC G04 25C                 

        

 

Mt. View Collection of Liberty Seated Quarters - Part 2 Gallery

Following is another decent sized installment of the Mt. View Collection of Liberty Seated Quarters to consider. This group includes a challenging 1847-O specimen (PCGS F15 CAC), the rare 1849-O date (PCGS F12 CAC) and difficult 1851 and 1852 Philadelphia and New Orleans issues, also with CAC approval.

Please remember that the First Right of Refusal (FRoR) event takes place Sunday evening at 9:00 pm ET (September 30). GFRC customers wishing to gain access to specific coins, in the Mt. View Collection, should plan to send an email at 9:00 pm and list up to five (5) coins that are desired for purchase. Email Inbox time stamps will be employed for determining who has first rights to purchase individual pieces. More on the First Right of Refusal Event will be posted in the upcoming Friday and Saturday Daily Blog editions.

My challenge is wrapping up the image processing of remaining offerings and settling down asking prices by Saturday. Is today already Wednesday?

Mt. View Collection of Liberty Seated Quarters Part 2 - A Gallery Work In Progress

Sunday September 30, 2018 - First Right of Refusal Event

  1842-O SD PCGS F15 CAC 25c                    1842-O LD PCGS F12 25c                           1842-O LD PCGS F12 25c    

        

   1843 PCGS F12 25c                       1843-O Lg O PCGS F15 CAC25c                        1844 PCGS F12 25c

        

1844-O PCGS G06 25c                             1845 RPD PCGS F15 25c                            1845 PCGS VG08 25c

        

     1846 PCGS F12 CAC 25c                     1847 RPD PCGS VG08 CAC 25c                   1847-O PCGS F15 CAC 25c

        

         1848 PCGS G06 25c                             1849 PCGS F15 CAC 25c                             1849-O PCGS F12 CAC 25c

        

       1850 PCGS F12 25c                             1850-O PCGS F12 CAC 25c                         1851 PCGS F15 CAC 25c

        

 1851-O PCGS F15 CAC 25c                          1852 PCGS F12 CAC 25c                         1852-O PCGS F12 CAC 25c

        

 

Global Financial News

We start the day with crude oil still holding the $72/bbl level while gold remains range bound at $1203/oz. The 10 year Treasury yield is also holding at 3.09%. Let's check in with Seeking Alpha headlines as to what is behind the rise in crude oil and U.S. interest rates.

The pending sanctions on Iranian oil exports are driving speculation in the oil markets. Traders are attempting to assess the supply shortfall and bidding up prices in advance of the November 4 event.

Crude oil prices are on watch after the U.S. said it would ensure crude markets are well supplied before sanctions are slapped back on Iran. The U.S. is due to apply sanctions on Iran oil exports on November 4. Traders have oil data to digest today when the EIA posts its weekly report on crude oil inventories for the previous week. With just a few trading days left in the quarter, Brent prices are poised to record five straight quarterly increases to mark the longest stretch of gains since early in 2007. WTI crude oil futures +0.06% to $72.32/bbl at last check. Brent crude +0.29% to $82.11/bbl.

The Federal Reserve is expected to raise the feds fund rate to 2.25% today and will widen the interest rate gap between the United States and Japan/European Union. One can expect a strong dollar and United States stock market as more overseas "dark money" migrates to our shores. Corporate borrowing and refinancing must be watched.

The Federal Open Market Committee is expected to lift the federal funds rate by a quarter point to 2.25% when the central bank finishes its two-day meeting today. The central bank is looking to guide the U.S. economy in for a soft landing, with an eye on the gap between the inflation rate and the fed funds rate. The so-called "neutral" federal funds rate (tossed around as R* by some economists) is either quite low or somewhat elevated by historical standards, depending upon which Fed governor you ask. Updated dot plot rate forecasts will be released after the meeting to give interest rate watchers plenty to chew on. Heading into the meeting, the 2-year Treasury is showing a 2.83% yield and the 10-year is at 3.08%.

Canada will not agree to Trump Administration terms for continuing NAFTA as Trudeau defends Canadian diary market tariffs.

Canada appears to be calling the bluff of the Trump Administration, saying it will not make the concessions required to reach a deal with the U.S. for a trilateral NAFTA pact. The U.S. has warned that it will move ahead with a trade deal involving only Mexico if the Canadian government didn't bend on certain issues such as access to the nation's dairy market. The Trump team wants Canada to conclude the deal by Sunday. "The relationship between Canada and the United States is far deeper than between the Canadian government and the U.S. administration," Prime Minister Justin Trudeau has said about the trade squabbles.

 

Wrapping Up the Blog

There is a substantial amount of coin images in today's Blog and it's not necessary to populate a Featured Coins segment. I believe, at this point in time, that Blog readers well know where to find great GFRC offerings on the price lists.

The countdown to the end of September is at hand. Tuesday's sales were strong and current sitting at 63% of forecast. A sincere thank you goes out to GFRC customers who made purchases during the past 24 hours. Many of those are shipping today under the GFRC Quick Ship program. If you are a well known customer, then shipments are immediately made consistent with your commitment that a check has been mailed.

Thank you for stopping by and being loyal readers!

 

 

September 25, 2018

Mt. View Liberty Seated Quarter Collection - Client Gallery Coming Soon!

Greetings and welcome to the Daily Blog on a Tuesday morning.

Days are quickly growing shorter in Maine with portions of the Blog being written in darkness. The lack of visual stimulation does impact creativity at an early morning hour. Without visual queues, it is difficult to even discuss Maine weather. A quick review of online media news is not much help either as providing personal commentary on the sad situation in Washington and across our great country is probably unwise. After writing about stickers and cleaning a wood stove, the topics backlog is exhausted. Therefore today's introduction is brief and let's immediately move to the rollout of the Mt. View Collection of Liberty Seated quarters.

 

Mt. View Collection of Liberty Seated Quarters - Constructing a Client Gallery

September has been a busy time in the GFRC office as a massive consignment backlog is insourced and processed. While building client galleries for smaller consignments, the huge Mt. View Collection of Liberty Seated Quarters has been receiving background attention. 120 coins is a substantial project in parallel with ongoing business. I'm pleased to report that the Mt. View Collection client gallery rollout will occur during the balance of the week with the First Rights of Refusal (FRoR) event scheduled for this coming Sunday evening at 9:00 pm ET.

A new approach will be taken with the Mt. View Collection rollout. The 120 piece client gallery will be constructed daily with each new segment published in the Daily Blog. To meet the Sunday evening FRoR deadline, about 20 seated quarter images must be added each day. The complete Mt. View Collection gallery will be available at a separate link entitled Gallery Work in Progress as shown below in the client gallery title line. Each day, new segments of the Mt. View Collection will be featured in the Blog with readers able to view the entire collection at the Gallery Work in Progress link.

Constructing the Mt. View Collection gallery, in full view of Daily Blog readership, will be sufficient motivation towards wrapping up the client gallery by the Saturday, September 29 morning Blog. Collectors who are interested in gaining access to certain Mt. View Collection offerings, can submit an email on Sunday evening at 9:00pm with their First Right of Refusal requests. Those emails will be recorded in the order received towards providing access to individual piece in the collection. This approach worked well for the Iowa Collection of Liberty Seated Quarters and is being reused.

Therefore this morning brings the first Mt. View Collection installment; Liberty Seated quarters dated from 1838 through 1842 Philadephia. One will immediately note that the consignor built a a collection with premium coins in the Good through Fine grades. Over 50% of the coins are CAC approved. It does take some refocusing for those of us who are comfortable with Seated coins grading at the Very Fine and Extra Fine levels. Quarters at the Good through Fine grade levels have substantial wear and the potential to be mistreated. It has taken the Mt. View Collection consignor years to locate these nicely original quarters including a fair number of CAC submissions to reward those with exceptional preservation.

Mt. View Liberty Seated Quarter Collection - A Gallery Work In Progress

Sunday September 30, 2018 - First Right of Refusal Event

  1838 ND PCGS F12 CAC 25c                     1838 ND PCGS F12 CAC 25c                         1838 ND PCGS F15 25c    

        

         1838 ND PCGS F12 25c                            1839 ND PCGS VG10 25c                      1840-O ND PCGS CAC F15 25c    

        

           1840-O ND PCGS F15 25c                         1840-O ND PCGS G06 25c                        1840 Drapery PCGS F15 25c    

        

           1841 PCGS VG08 CAC 25c                          1841-O PCGS G06 25c                              1842 PCGS VG08 CAC 25c    

        

 

Regardless of the Mt. View Collection client gallery construction, incremental offerings will still be featured daily at the Blog. The volume may slow down a tad but the goal is to continue posting incremental new purchases and consignments on an ongoing basis.

This morning, I am pleased to be featuring two quality Trade Dollars. It is not often that GFRC acquires rock solid Trade dollars for the price list; these two offerings are welcomed and appreciated. The first is a gem original 1874 Philadelphia strike with perfect surfaces, frosty luster and uniform gray, copper and gold patina. This piece is worthy of the AU58 grade and CAC approval. I've also labeled it as a JUST BUY IT NOW recommendation. The second is a strictly original 1877 Philadelphia strike accurately graded as EF45 with two small chop marks. The chops are definitely of Asian origin and most likely Korean characters.

Both new offerings are on the price lists.

New Trade Dollar Acquisitions

       1874 PCGS AU58 CAC T$1                                                   1877 PCGS EF45 Chop Marked T$1

    

 

Why Do We Collect Coins?

This Blog segment is becoming more popular by the day. As reader stories are published, more arrive on a daily basis and will facilitate this segment through the balance of the week. Today's respondent took a different approach and explains why he collects in the present tense without discussing background. His words ring so true....

For me, collecting coins is a pursuit that is a nebulous conundrum, encased in an enigma and surrounded by a Mobius strip.

Atta boys:

-Holding a coin in hand and daydreaming about its journey to my collection
-Reading coin descriptions and blogs about the hobby
-Attempting variety attribution
-Researching to determine provenance if possible
-Filling a hole
-Completing a set

Aw shits:

-Filling a hole
-Paying too much
-Not paying enough
-Eyes not working correctly
-Unfortunate decisions
-Trying to remember what I have learned and read

I continue to pursue the hobby through education, conversing with others at shows and trying to keep the good and the bad in a positive perspective. Maybe, as time passes, the answers to why I collect will become more apparent, before I am unable to remember that I have a coin collection.

Branch Mint Collection

 

Global Financial News

Another day arrives in the financial world and time to check in on commodities, interest rates and Seeking Alpha headlines.

Crude oil prices continue to move upward and we will be feeling the impact at the gasoline pumps soon. Crude is now quoting at $72.56/bbl. However, spot gold remains in its trading range at $1204/oz. Bitcoin is also range bound at $6396. Interest rates continue to rise with the U.S. 10 year bond yielding 3.11%. For those with substantial debt loads, higher interest rates could be problematic.

We open the the Seeking Alpha headline section with China not pleased with the latest round of United States tariffs. There are denials of past trade and intellectual property practices.

China’s Vice Commerce Minister Wang Shouwen says the U.S. is putting “a knife to China’s neck” with the $200B in tariffs on Chinese goods that kicked in yesterday. During a press conference, Wang questioned how negotiations could proceed when “it’s not an equal negotiation” with the backdrop of “threats and pressure.” Wang accuses unnamed individuals of making groundless criticisms against China regarding trade and security issues. Wang: “If this continues, it will destroy in an instant the gains of the last four decades of China-U.S. relations.”

Germany is also concerned with trade issues and a lower demand for German goods.

Germany’s BDI industry association has warned uncertainties from the U.S. trade policy and Brexit are lowering demand for German goods. BDI has cut its 2018 forecast for German economic growth to 2% from the previous 2.25% and lowered its export growth estimate to 3.5% in real terms from 5%.

If I read this headline correctly, it appears that the European Union is creating a special financial channel outside of SWIFT to faciliate transaction with Iran.

The EU will establish a special payment channel allowing companies to legally continue financial transactions with Iran without exposure to U.S. sanctions. The mechanism would facilitate payments related to Iranian oil trade, exports, and imports. The details of the mechanism will come after future meetings with technical experts. The special purpose vehicle was jointly announced by EU foreign policy chief Federica Mogherini and Iranian Foreign Minister Javad Zarif days ahead of the U.N. General Assembly, where Iran will be a key topic.

When the weakest link in a delivery chain is totally unexpected....Telsa lacks car carriers to move their products to customers. Amazingly, Elon Musk's solution is to build a fleet of car carriers.

Under the gun: Tesla CEO Elon Musk says the company is upgrading its logistics system in order to help make up for an "extreme shortage" of car carrier trailers. "Started building our own car carriers this weekend to alleviate load," Musk updated. Tesla's issues getting cars delivered to customers were brought up last week by AutoNation CEO Mike Jackson, who said the EV automaker made a mistake by snubbing the franchise model. Adding to the tension, Tesla is less than two weeks away from giving its Q3 production and delivery update.

 

Wrapping Up the Blog; Sleepy September....

I will be glad to see September in the history book as a challenging month. Matt Yamatin will be disapppointed with his father's sales performance as GFRC stands at 60% of it September forecast with just one week remaining in the month. It really is a principal matter at this point and a topic of conversation.

So to get to that sales forecast, I will be in a dealing mood. Much attention will be place on rolling out the Mt. View Collection before the end of the month so those orders/sales count against the September forecast. After managing a substantial P&L in the semiconductor industry and always meeting or coming close to forecast, it is definitely a matter of personal pride and principal.

Let's see what happens in the next week..... Thanks for stopping by at the Blog. As the Branch Mint Collection individual well said, "collecting coins is a pursuit that is a nebulous conundrum, encased in an enigma and surrounded by a Mobius strip." What is a Mobius strip?

The Möbius strip or Möbius band, Mobius or Moebius, is a surface with only one side and only one boundary. The Möbius strip has the mathematical property of being non-orientable. It can be realized as a ruled surface. It was discovered independently by the German mathematicians August Ferdinand Möbius and Johann Benedict Listing in 1858.

A fitting end to today's Blog. See you tomorrow.

 

 

September 24, 2018

Mind Those Stickers!

Greetings and welcome to the Daily Blog as the last week in September arrives.

Sunday turned out to be the best day of 2018 weather wise. Temperatures were in the low 60s but with bright sunshine to warm the body. Humidity was also low with quick cooling as the sun dropped in the sky. Working in the GFRC office was out of the question on such a great day; attention shifted to property maintenance. All heavily treed areas wlll accumulate smaller broken branches and it was time to rake the mulch and apply RoundUp towards controlling unwanted vegetation. The front yard looks great with last year's mushrooms being back. Following are several images to dress up today's Blog.

    

 

Mind Those Stickers!

I've been meaning to address the topic of stickers on TPG holders for several months. Since insourcing many consignments from a wide range of individuals, I see all types of stickers on TPG holders. These stickers can be from dealers or applied by the consignor for labeling and record keeping. These stickers fall into categories of the Good, the Bad and the Ugly. Please hear me out towards understanding the challenges brought by stickers on consigned holdered coins.

Let step back and ask a question.... As a GFRC customer, do you wish to buy coins in well preserved, problem free holders or are you comfortable with accepting holders with other people's stickers and/or glue residue? I believe I know the answer and that is the point for asking the question.

Taking stickers off holders is a time consuming process along with cleaning off the glue residue. Some stickers are easy to peel off while other types are down right horrible. How about trying to peel off a horrible sticker applied to the back of a pristine NGC Fatty holder and on top of the delicate hologram? The outcome is so sad....

Following are some observation and straightforward advice to consider the next time purchasing inexpensive stickers to mark TPG holders.

- Most professional dealer stickers, those with company name and bar code, are easy to peel and will not leave glue residue. These dealers understand the difficulties with removing residual glue and will use quality products.

- Collectors with no sensitivity to removing stickers will typically purchase inexpensive products at Staples or Walmart. These stickers, once applied, are very difficult to remove. The adhesive strength is high so the sticker does not fall off. Removing these types of stickers is a challenge. The paper portion will comes off with the glue staying on the holder. Then the glue must be removed and the holder cleaned.

- Please do not place inexpensive stickers on the top of TPG holograms. I get this sick feeling when attempting to remove a sticker from the back of early NGC Fatty holders only to have the delicate hologram peel off. This happened yesterday with a consigned coin and I felt bad almost equivalent to hitting a squirrel on the roadway. You don't want this to happen but sometimes, it is unavoidable and the outcome is ugly.

- Please remove ancient Heritage auction lot stickers from your holders. With passing time, the glue will harden and is impossible to remove. The sticker will peel off leaving an ugly layer of cement grade glue on the reverse hologram.

Bottomline?

If submitting coins to GFRC on consignment, please remove the stickers before transferring the coins. Otherwise, I must remove the stickers and the results can be unpredictable plus time consuming. Sure, a few of you will say that there are products to safely remove glue residue. Yes.... I have ruined several older NGC holders with those types of products. Not all glue removal products are compatible with different grades of plastic holders. Therefore I'm using finger nails and praying for the best.

Thank you for considering....

 

Why Do We Collect Coins?

A constant flow of responses continues to arrive to the email Inbox for the Why Do We Collect Coins topic. A sincere thank you goes out to all GFRC friends who took the time to share their collecting backgrounds. Following are two more submissions.

First up is a lovely composition from the Silicon Valley Collection consignor. He has been quiet as of late but is sending in a consignment in time for the Whitman Baltimore show.

My personal collecting story began around Christmas of 1992, my father went to buy batteries for our trip to Reno and received a beat-up 1938-D cent in change, he gave it to me and being totally fascinated with the different design, I had it in my pocket the entire trip.

Coming back, I showed the coin to my cousin, who produced from his desk a 1937 cent in probably a problem-free fine. To a 10-year old, that one extra year of age on his coin might as well have been 100 years, and I vowed to beat him with an even older coin!

A couple months later, we went to the local flea market where my dad bought me 4 coins from one of the vendors: a 1935 buffalo nickel, a 1905 Indian cent, a 1912 Lincoln, all about VG -VF; and finally an XF-AU 1909 VDB for $4. Years later while looking through the black Breen encyclopedia I found out the VDB was a DDO which was really neat! Still have 4 of my 5 “starter coins,” sold the Indian cent to a friend in junior high after using an eraser to brighten it. Doing so taught me early on that cleaning coins isn’t really a good idea.

My father never realized what he got me started on and shakes his head at the prices on some of my more recent acquisitions, but he did provide that all-important first spark. My next mentor many years later after I returned to coin collecting in 2005 was a local dealer who taught me some of the finer points about the coin business and a few bits of trade secrets. His most important lesson to me was stressing quality over quantity. He passed away from lung cancer in 2012, and I often think of him when I look at my current collection. I think the in-progress 1865 mint set in particular would surely make him proud.

Another friend from California shared this short commentary.

Not sure who's idea it was, but when I was not much older than 10, my father started bringing home rolls of pennies every Friday. Throw in a Whitman album and I was off. Back then, I'd still occasionally find silver coins in change.

That was probably the best collecting time for me. It was all about the hunt and I was just happy to fill the spot in the album. I wasn't too concerned with condition at that age and acquisitions were essentially free.

Of course now I buy much better coins, both in rarity and condition, but I don't think my joy of finding a new coin is greater now. Of course the "hunting" is much different, as I'm not really the one finding them anymore, am I? They've already been found and I'm the latest buyer in a string of purchase transactions. Not quite the same experience, but still fun filling the holes in the virtual album.

 

More Liberty Seated Halves From West Coast Purchase

I've been handling a substantial volume of consignments and new purchases as is probably evident from the Blog and 30 day price list. How I wish these could sell as quickly as being added but that is a different topic....

Buried in the safe were a few more Liberty Seated half dollar coins that were part of the recent West Coast collection purchase. I happened to see this lot on Sunday and decided to immediately place on the price list towards closure. For collectors seeking quality mid grade circulated Seated halves, then please have a look. Many of the New Orleans pieces are R4 rarity die varieties. My favorite in the group is the 1842 WB-10 due to the in hand and bright light eye appeal. The 1840-O, 1843-O and 1844-O are a wonderfully matched lot and would be ideal as a starting point for VF30 grade date and mintmark set. Imagine building an entire Liberty Seated half dollar set with this consistent old time original color?

Whoops! More Liberty Seated Halves from West Coast Purchase

   1840-O WB-7 PCGS VF30 50C                   1841-O WB-5 PCGS VF30 50C                   1842 WB-10 PCGS EF40 50C    

        

1842-O MD WB-9 PCGS EF40 50C                  1843-O WB-3 PCGS VF30 50C                1844-O WB-13 PCGS VF30 50C 

        

1846 MD DDO WB-10 PCGS EF40 50C                1854-O WB-3 NGC EF45 50C     

    

 

Global Financial News

We start the week with our tracked commodities and interest rates on the move as U.S. and China trade war escalates. Unfortunately, spot gold is still stuck in its tight trading range and is quoting at $1203/oz. On the otherhand, crude oil has increased to $72/bbl prior to President's Trump address to the UN General Assembly this week. Bitcoin is also up to $6602 while the 10 year U.S. Treasury bond is approaching 3.09%.

Seeking Alpha headlines open with a piece on new U.S. and China tariffs. At this point, global equity markets should have already factored this event into stock prices.

Global markets are mostly lower as the newest tariffs between the U.S. and China took effect overnight, marking a sharp escalation in the dispute between the world’s two largest economies. The duties include U.S. tariffs on $200 billion worth of Chinese goods, along with retaliation to the order of tariffs by Beijing on $60 billion worth of U.S. goods. Talks have broken down, with no date set for a follow-up. The Trump administration likely will dig in, but what about Beijing? China likely will hold off on negotiations, economist Rob Carnell says, noting there's "sufficient stimulus in the pipeline" to limit damage from the new tariffs. China also could be waiting things out until the U.S. election: “With generic polls favoring the Democrats, they may feel that the trade environment will be less hostile after November 6.”

The impact of China tariffs will be limited in many cases due to forecasted lead time and the ability of American retailers to enact mitigating strategies for holding market share. Large retailers are warning of pricing increases to cover themselves as price mitigating plans are implemented. Those retailers who sell U.S. made products don't have an issue.....

Prices of many products will go up as U.S. tariffs on China go into effect, according to large retail chains such as Walmart, Target and J.C. Penney. Retail sector analysts warn items in certain categories could see a 20% increase in prices based off of what happened in the washing and drying machine industry in an earlier round of tariffs. On the flip side, the retail giants have been working on mitigation strategies and are likely to have stockpiled some key products and components in anticipation of the tariff impact. Some chains like Dollar General and Dollar Tree are seen as having very limited tariff exposure.

Crude oil prices are increasing due to supply side concerns from Saudi Arabia and Russia. Both countries wish to see higher prices for every barrel of crude that is pumped; especially the Russians. Can the United States extract even more oil to mitigate supply concerns? As Chinese, India and United States economies continue to expand, the demand for crude oil will also continue to rise.

Brent crude jumped to its highest in four years overnight after the world’s biggest oil producers, led by Saudi Arabia and Russia, decided against further increases in production, despite calls from Pres. Trump for OPEC to lower prices. At its meeting in Algiers Sunday, OPEC said it was satisfied "regarding the current oil market outlook, with an overall healthy balance between supply and demand." Brent spiked as much as 2.6% higher to $80.94 per barrel to its loftiest levels since 2014, while U.S. WTI climbed 1.8% to $72.06 per barrel, its highest since this June.

 

Featured Coins of the Day - Seal Beach Collection Offerings

Seal Beach is a substantial GFRC customer and consignor. His consigned pieces are always top notch quality. Following is an unsolicited email from a GFRC customer concerning a recent Seal Beach 1848-O half dollar purchase.

Hey Gerry,

I got my shipment today and have to tell you that I love these coins! The 1848-O Half is really nice. I have a few coins from Seal Beach and love every one of them.

Thanks for working with me on them! They’re great additions to my collection.

Therefore, let's wrap up today's Blog with additional offerings from the Seal Beach Collection. Now is the time to consider a purchase before these disappear at the upcoming Whitman Baltimore show. If interested in any of these, then please call for special pricing offer from Seal Beach!

Seal Beach Collection Offerings - Quality Liberty Seated Halves

           1842 Med Date WB-10 PCGS AU58 50C                                           1843-O WB-11 PCGS AU58 50C                

    

    1854-O PCGS AU55 CAC 50C                                                          1858-S WB-10 PCGS AU53 50C

    

          1862-S PCGS AU55 50C                                                                  1888 PCGS MS64 50C       

    

 

A long Daily Blog edition to start the week. Thanks for visiting and see you tomorrow.

 

 

 

September 23, 2018

Cleaning the Wood Stove!

Greetings and welcome to a Sunday edition of the Daily Blog.

Seasonal weather has finally arrived to southern Maine. The 6:00am temperature is a crisp 42F with frost warnings for the foothills (west of Raymond into the New Hampshire White Mts). One of today's chores is cleaning out the wood stove and preparing for the heating season given the pending weather forecast. Today's high temperatue will be a comfortable 67F with mostly sunny skies but Monday will be down right cold with a forecasted high of 57F followed by more rain on Tuesday. Best to get the wood stove ready and GFRC photography requirements done during the next two days as autumn weather can be unpredictable.

Seth Godin's Blog: Like burning a hammer for heat

Today's Godin Blog dovetails nicely with my opening commentary concerning burning wood. He reminds us to avoid being short sighted for quick profits or personal gains. A reputation, goodwill and true relationships can takes years to build but could be lost in a heartbeat if not carefully managed. Think before you act.... This advice is so timely given the ongoing stress being created by online media and modern life.

Like burning a hammer for heat

Yes, it's true that your hammer has a wooden handle.

But throwing it in the fireplace to get a few BTUs out of it is a huge waste.

The same thing is true of your reputation, of the relationships you have, of your hard-won trust.

Don't burn it just because you're a little chilled.

 

Why Do We Collect Coins?

In Friday's Blog, I asked a simple question; namely, why do we collect coins? Following is another well prepared response from my good friend, Tom Coulombe (Massachusetts Collection). It is my honor to be sharing Tom's numismatic journey with Blog readers.

As youngsters......we had time to burn. And for my generation, at first.....it was toy WWII soldiers and I had quite a few of them, but I always wanted and needed more........for my bigger army.

When I eventually learned that the way to garner more soldiers was "funding", so, I eventually asked and learned to earn an allowance. After this warring phase was "won", I felt empowered to save the thing that acquired the soldiers......the funds.

And going to school I learned how to buy milk, savings bonds and eventually....... baseball cards on the way home. Eventually, I learned that I lived very close to a coin shop........it was easily within walking distance down my street. I also discovered that everyone seemed to be collecting something. My Dad collected repair car parts for our second hand Kaiser. There were lots of parts in the garage and in the cellar. He even bought and disassembled a few wrecks. My sister collected dolls......and pennies. My Mother had Hummels and a stash of two dollar bills. So, collecting seemed natural then.

The coin shop was very orderly. The lighting was great and with so many, many shiny and varied coins, I was intrigued.

The shop was run by Edna as part of her quiet home. Her husband was a Navy cook on a ship in a fleet usually on seas unknown. He was a very nice guy too. They had older children who were seldom seen around the shop.

Edna "was like" the best kind of school teacher I could have had. There were ....."no dumb questions.....". She told me about large cents, two cent pieces and three cent pieces. Her message was very simple: "always buy quality". and "buy a folder and try to collect them all". Edna was elected an officer of a numismatic organization in Providence, Rhode Island; and then her shop became very, very busy by the time I was in high school. She had a few big dogs for security and there was lots of smokers frequenting her shop. Even my mailman was a collector as I frequently saw him add to his collection. I was in the coin shop at least every month. Coin collecting seemed like an important and illuminating hobby. Eventually I learned that there were coin shops in the other surrounding cities, i.e., Attleboro and Brockton.......and a whole street of them in downtown Boston. So, numismatics was a business.

Eventually, I had several folders (but no penny folders). And later I had virtually "all" the non-penny folders. I had a blue book and a red book. I was "wired" to collect coins. I had an army of folders and I was seriously into saving and inspecting coins but that large magnifying glass did very little to help explain quality. It seemed more important to amass and fill folders, even Canadian coin folders. Then the hobby got a little weird.....double dates, full bands, full stairs, etc. Then there were proof sets to consider and commemorative coins.........lots of distractions. I found it hard not to generalize my collecting and I kept collecting. Then the distractions became silver certificates and vanishing silver......like silver was going to disappear forever........so amass lots of silver ...."in case it doubles." So, collecting became something called "an investment".

I guess that I was just a dumb kid who needed to learn about the world......with experiences I chose to delve into.

And I tried to find the best teacher(s) I could along the way to help me have some fun with my eventual hobby.

I was really just imitating several adult figures who were truly into this activity in different capacities.

And I have been very fortunate.

Eventually, ..... I learned how to focus on a series that intrigued me and that made me wonder again. Can I fill the folder?

Or how about seven blue boxes?

And I am still mostly enjoying the challenge.......as the steward of a very decent assortment of Liberty Seated Dimes.

I look at this hobby different now.......but it still seems to be a very worthwhile endeavor in and 'for' my mind.

But, for me, I do not look at it as a business or an investment or a distraction. It is "like" an honor to hold and sort of cherish relics that helped make this nation function peacefully, in part, because of this ancient metallic technology. They hold and somehow retain true value; and the neat, seldom used and maybe neglected, original ones may just be the best of the bunch. And by retaining them for a significant period of time I have developed a new feeling, a sense of accomplishment.
And that has become important to me more.....as I get old.......really old.......but slowly.

That is it......

 

Time to Sell a Few Gerry Fortin Web-Book Plate Coins

In recent PCGS and CAC submissions, I continue to add raw Liberty Seated dimes from my reference collection. My divestment horizon is long term as not wishing to compete with GFRC consignors for marketing time and space on the Blog and price lists. But occassionally, I will bring out the good stuff. This morning is one of those occasions.

Following are four Seated dime to consider. I bought the 1861 Type 2 Obverse F-110 for the variety and usage as a plate coin. It was purchased raw as an MS64 and PCGS graded it MS64...how did that happen? The 1865-S F-102 is a duplicate to the current web-book plate coin but has superior surfaces. PCGS was tough at the assigned VF35 grade as I purchased it as full EF40. But I feel redeemed with the CAC green bean. The 1867-S F-102a dime was difficult to part with. I've only seen two examples with the filled date since purchasing the plate coin from Brian Greer during 1991. I graded this dime EF45 in the web-book. PCGS felt it was only EF40 but again redemption with a CAC green bean. This piece is already sold for $1600. And finally, an 1868 F-102 dime graded PCGS AU50, just a tad undergraded. My web-book published raw grade was AU58. But again CAC redemption. The 1868 date has one of the lowest CAC populations at eight pieces! Three are in circulated grades, including this AU50, and the rest are in mint state. Many 1868 dimes were exported to Europe and never circulated in the United States.

Important Liberty Seated Dime Web-Book Plate Coins

Gerry Fortin Reference Collection

1861 Type 2 F-110 PCGS MS64 10C                                                   1865-S F-102 PCGS VF35 CAC 10C

    

1867-S F-102a R7 PCGS EF40 10C                                                   1868 F-102 PCGS AU50 CAC 10C

    

 

Residual Burchs Creek Capped Bust Halves Moved to PCGS Holders

It was a shame to crack out eight perfectly original Capped Bust halves from ANACS old white holders but necessary to sell this remaining consignment. All were submitted to PCGS and returned with grades that were identical to or very close to the ANACS grades. Then a CAC review produced a 50% CAC approval rate. Following are eight quality offerings with all the heavy lifting done for potential buyers. Prices have been adjusted to reflect current grades, CAC approval and market conditions. All eight pieces are currently on the 30 day price list and ready for purchase.

Burch Creek Collection Capped Bust Halves

Former ANACS OWH - Now PCGS Graded & CAC Reviewed

All the heavy lifting has been done....searching for a loving new home!

   1828 O-118 PCGS AU55 50C                    1832 O-102 PCGS AU55 50C                 1832 O-110 PCGS AU55 CAC 50C

        

 1832 O-112 PCGS AU53 CAC 50C                  1836 O-102 PCGS AU50 50C                    1836 O-110 PCGS AU50 50C  

        

   1836 O-110 PCGS AU53 CAC 50C             1836 O-116 PCGS EF45 CAC 50C

     

 

Wrapping Up the Blog

It is definitely Sleepy September as many other priorities in life are competitng with the numismatic hobby. College football, outdoor activities and cleaning wood stoves are all popular during this time of year. My advice is to avoid the stress inducing news, or what we've come to call news, and take time to enjoy outdoor exercise and hobbies. Exercise is necessary for a healthy body and hobbies provide relaxation for a healthy mind. Though the internet has dramatically improved our access to information, it has a deep dark side as there are people/organizations that attempt to influence our thought processes and opinions on a continual basis. Best to break the link and find our own quiet space.

I'm trying hard to follow my own advice towards positive thinking and a peaceful life.

See you tomorrow.

 

 

 

September 22, 2018

Entire GFRC PCGS Inventory on Collectors Corner!

Greetings and welcome to the Daily Blog weekend edition.

Southern Maine has been caught up in a cloudy weather pattern for days with seasonal temperatures. Showers will appear but nothing serious in terms of rainfall. Since spending long hours in the GFRC office, other than brisk exercise walks, the only impact of cloudy weather is the inability for spontaneous photography. There remains a vast backlog of unprocessed images on the laptop therefore cloudy weather is not impacting the relentless effort towards loading 300-400 new coins to the price list by mid October. So far so good!

 

Entire GFRC PCGS Inventory on Collectors Corner!

Matt Yamatin has done it again! After seeing my early week efforts to manually load GFRC inventory onto Collectors Corner, Matt emailed and requested access to the Collectors Corner upload templates. Within a few hours and using Excel command language, Matt wrote a routine inside the COIN database to aggregate all PCGS coins into the proper Collectors Corner upload format. His instruction sheet arrived on Thursday and yesterday, I was able to load the entire PCGS holdered inventory (740 listings) into Collectors Corner marketplace. GFRC now has a substantial Capped Bust, Liberty Seated and United States coinage position and let's hope the visibility translates into incremental customers and sales for GFRC consignors.

When the Yamatins visit the Florida GFRC office, in mid December, Matt and I will work on completely automating the COIN database extraction including adding NGC holder coins.

 

Twin Lakes Collection Consignment on Price List

I pleased to report that all the Twin Lakes Collection consigned items are on the price list and with appropriate descriptions. It is cool knowing that "on the price list" also means being on Collectors Corner.

The Twins Lake Collection consignor is in a cash raising mode, for other numismatic pursuits, and wishes to sell his consignments by the Whitman Baltimore show. I would encourage you to visit the 30 day new product price list and have a look at the Twin Lakes offerings. There are many quality coins to consider with several already on hold. One of the important highlights is a scarce 1905-O Micro PCGS AU58 CAC Barber dime.

The 1905-O Micro O is one of the major mintmark size varieties within Barber coinage. A Micro O mintmark, used for Barber quarters, was inadvertently punched into a Barber dime reverse die. But wait a minute you might say? Should not the Barber quarter mintmark punch be LARGER than that of the dime? Barber coinage enthusiatists immediately know the answer to that question. The Barber quarter reverse design leaves little space for a mintmark punch. Therefore a micro O is required to fit between the eagle's tail feathers and the last R in QUARTER. The New Orleans O mintmark punch for Barber dimes is larger than for quarters as there is more space available for the O mintmark. So now you know the whole story!

Heavy circulation for all Barber coinage results in few high grade 1905-O Micro O examples surviving. Most will be found in grades ranging from well worn Good through Extra Fine. In AU, this variety is very scarce and, in mint state, it becomes a rarity. The Twin Lakes specimen is one of four approved at CAC with only three better! PCGS total population at the AU58 grade level is only seven. I believe the grade rarity point has been made and someone should sieze the moment and jump on this offering. Please call me to discuss if this piece might be for you.

Popular Barber Coinage Die Variety - Twin Lakes Collection

1905-O Micro O PCGS AU58 CAC 10C - Priced at $3450

CAC Population Four at AU58; Three Better!

 

Why Do We Collect Coins?

In Friday's Blog, I asked a simple question; namely, why do we collect coins? My hope was to gain insights on how the collecting bug strikes and then use that knowledge to enhance the Liberty Seated Collectos Club outreach program or fine tune the Daily Blog content further. Initial responses have been excellent with insights into the collecting passion that we share today. Following are the first two stories to be offered.

An immediate response arrived from the Tenafly Collection consignor....

Why do I collect coins? For me, it's an extension of my incessant desire to put together a collection of anything - it's probably in my DNA to collect and the bug started early in life. Among my collections were stamps, rocks, fossils, postcards, baseball cards, Beatles cards, puddles (yes, I used to "document" puddle size after each rain and had a strict route - guess it helped when I began Hydrology as an engineer), LP's, ad infinitum. For example, if I found a light bulb, it HAD to become a COLLECTION of light bulbs for a museum.

Long story short, I still collect coins based on their design, history, worth, among many other reasons. The most important facets of my coin collecting are the discipline and patience necessary to reach predetermined goals which is usually difficult for the pure collector, who just wants to amass stuff. (no, I'm not ready for "Hoarders"). Also, the comradeship of coin collectors knows no bounds. And it gives me something to do every day.

A fairly new GFRC friend offered these personal insights...

My dad started me off collecting coins and I am now following in his footsteps.

I collect coins for their history and the thrill of “the hunt”. I love history and I always contemplate the history of an old coin when in hand— where has it been, who could have held it in their hand and why/how did it survive all these years in such good condition? I like to understand the story behind a particular denomination as that greatly enhances satisfaction in collecting it. I like to imagine myself in that era and how things were then. Maybe I’m sentimental about it. The thought of someone having the coin in their pocket and actually using it at the general store to buy needed staples is compelling. How we view coins now is most likely totally different than they way they were perceived then.

I am on a “mission” when collecting a specific series or denomination. Once my collecting goal is established, I don’t waver from it and try to achieve it as quickly as possible. I do get impatient. It’s like the difference between me and my wife when shopping at the mall. When I need something I go in I use a “surgical strike” to get it and get out whereas she has to go to every store in the place to look for it.

There is nothing more satisfying than achieving a coin collecting goal and capturing the history associated with the coins.

More personal stories will be published in Sunday's Blog. Please keep them coming!

 

GFRC's Latest Client Gallery - Jim Poston Consignment

Let's wrap up Saturday's Blog with eye appealing new offerings from Jim Poston. Jim attends many midwest coins shows and is always searching for potential GFRC inventory items along with material for the eBay account. I've highlighted two of my favorite pieces. First is a gorgeous 1826 O-112a Capped Bust half that is so blatantly undergraded in its early NGC Fatty AU50 holder. CAC review assigned a GOLD bean and rightly so! The O-112a die state is also cool with filled N in UNITED and filled first S in STATES. Next is a most pleasing 1884 NGC MS64 Seated half with serious cartwheel luster. This one belongs in an advanced collection.

Within the balance of the images, I would recommend the 1876-CC F-128 dime as perfectly original with its rusted obverse die as compared to a pristine reverse die; what a contrast! The 1878 dime is simply stunning and already there are three FRoR on the piece. Don't overlook the 1873 No Arrows Open 3 quarter as scarce and choice original. Finally the 1820 O-108 Capped Bust half in ANACS old white holder offers incredible eye appeal. Let's remember that not everything is the numismatic world resides in PCGS CAC approved holders. As I submit more coins to CAC, it is become apparent that great coins are being overlooked in terms of green bean sticker and we need to acknowledge this fact.

Jim Poston Consignment - Lots of Great Eye Appealing Coins!

1826 O-112a NGC AU50 GOLD CAC 50C                                                 1888 NGC MS64 50C             

    

   1843 PCGS AU58 5C                              1858 NGC Fatty MS62 5C                              1860 PCGS AU53 5C

        

                    1871 PCGS AU58 5C                          1857-O F-105 PCGS AU58 10C                 1876-CC F-128 PCGS AU55 10C          

        

  1878 Type 2 F-107 PCGS EF45 10C             1873 NA Open 3 PCGS AU55 25C                   1908-O PCGS AU55 25C           

        

    1914-D PCGS AU53 25C                    1820 O-108 ANACS OWH AU53 50C                1830 O-117 NGC EF40 50C  

        

  1894-O PCGS VF30 50C                            1861 PCGS MS62 50C 

    

 

Wrapping Up The Blog

For the weekend Blog edition, I'm taking a break with the Featured Coins segment. All 550+ readers well know where to find great coins inside the many GFRC price lists. I hope that you might find some time to review my offerings and those of many GFRC consignors towards a purchase.

Wishing everyone a great weekend. I will be back on Sunday morning with yet another edition and more ramblings.

 

 

 

September 21, 2018

Why Do We Collect Coins?

Greetings as another work week wraps up and welcome to the Daily Blog.

I've been up since 4:30 am and mulling over a topic for today's Blog without much success. Seth Godin has not posted an update. Gold prices are flat. There is no desire to watch the political drama in Washington as scotch consumption will dramatically increase. It is that or antidepressants. Some nut decided to metro train surf after the Yankees-Red Sox game and electrocuted himself. What are people thinking these days? Another stunt to be famous on YouTube or Facebook?

Thank goodness for the numismatic hobby and GFRC business that provides an incredibly busy and meaningful "retirement". How fortunate can one person be?

Why Do We Collect Coins?

But fundamentally, the core of the numismatic hobby is that urge to collect. But why do we honor that urge and spend countless hours online searching out our favorite coins or traveling to coin shows? It is a simple question, but I'm sure there are countless stories to be told. Is it the thrill of the hunt, cherrypicking a variety or just working towards a goal? Please share your insights....

I would like to invite Daily Blog readers to email their collecting stories and help the GFRC community understand the reasons behind that passion for collecting coins. Then maybe the insights can be applied towards stimulating more hobby participation by next generations collectors.

So feel free to write and share. Your inputs will be consolidated and featured during the upcoming weekend Blogs. Some inputs may be published without edits so please be aware when composing a response.

 

Quality Barber Quarters on GFRC Price List

The end is arriving for posting coins from that large West Coast collection purchase. This morning brings an initial lot of Barber quarters for consideration. The following eleven coins are already posted onto the price list to facilitate initial orders along with keeping sales moving during Sleepy September. The 1898 PCGS EF40 CAC offering is by far the most popular with five FRoR since being posted late yesterday. How I wish the balance of the lot would have the same demand....

Breaking into the Barber coin market has been a bit vexing. Continuing efforts are being made to expand inventories throughout the grade ranges. At this time, it appears that Barber quarters are the most popular of the three denominations based on GFRC sales results. So please enjoy the following group; multiple piece orders are welcomed.

Early Date Barber Quarters - Great Quality and Collector Grades

 1892-O PCGS VF35 CAC 25C                       1894-S PCGS VF30 25C                           1895-O PCGS AU50 25C   

        

              1896 PCGS EF45 25C                                 1897 PCGS AU53 25C                             1898 PCGS EF40 CAC 25C       

        

      1898-O PCGS VF30 CAC 25C                      1899-O PCGS VF25 CAC 25C                        1900-O PCGS VF35 25C           

        

  1901-O PCGS VF25 CAC 25C                      1902-S PCGS EF40 25C  

    

 

Global Financial News

We start this segment with new highs for U.S. equities and even the Shanghai index closing strongly upward. The United States economy is firing on all cylinders and incremental consumption will support trading partners.

Another day of gains looks in store for U.S. equities as stocks advance across the globe, with China's Shanghai Composite Index even closing up 2.5%. The DJIA and S&P 500 set new highs Thursday as the economic outlook got rosier: Initial jobless claims, a proxy for layoffs across the U.S., fell to the lowest level since 1969. A recent spike in government bond yields is further signaling that investors are viewing next week's expected interest rate hike from the Fed as a testament to the strength of the economy.

As for commodities and interest rates, spot gold is in a tight trading range of $1200 - $1210. This morning's open is at $1209. Crude oil remains at $71/bbl while Bitcoin has moved up to $6693. The 10 year U.S. Treasury bond is yielding 3.08% and flat over the past few days.

Canada and U.S. NAFTA renegotiations continue to struggle over several core issues.

Another missed deadline? The U.S. and Canada showed scant sign on Thursday of closing a deal to revamp NAFTA. U.S. negotiators reportedly wanted Ottawa to agree to capping its American auto exports at 1.7M vehicles a year, something that Canadian industry sources dismissed as unacceptable. Pressure on Canada is growing, however, partly to push it through the U.S. Congress before Mexico's new government takes office on Dec. 1.

Here is an interesting headline concerning two seperate global internet platforms; United States and China based. The China based platform will have limited censorship. Google appears to be developing a revised search engine that will meet Beijing requirements.

Within the next decade, there will be two distinct internets: one led by the U.S. and the other by China, according to Eric Schmidt. "Look at the way their Belt and Road Initiative works, which involves 60-ish countries - it's perfectly possible those countries will begin to take on the infrastructure that China has with some loss of freedom." Recent reports suggest Google is developing "Project Dragonfly," a censored version of its search engine that could appease authorities in China.

California is a strange place. It is a sanctuary state, tolerates street side housing for the homeless and public drug usage but restricts the use of plastic drinking straws....

California has become the first state in the nation to restrict the use of plastic straws in full-service dining establishments. The measure, Assembly Bill 1884, limits restaurants to giving out single-use straws only upon request of customers. Businesses violating the new law could be subject to a fine of $25 per day and as much as $300 annually.

 

Featured Coins of the Day - More Quality Barber Coinage Offerings

This Blog edition has been a seat of the pants effort. I'm writing whatever pops into my head with no prior content plans. Since featuring a solid lot of Barber quarters as a gallery, let's continue down the same path and showcase other great Barber coins within GFRC inventory. Again, I'd love to understand who are the serious Barber collectors in the community towards building long term relationships.

Following are what I believe to be quality offerings.

           1898 PCGS MS64 CAC 10C                                                            1900-S PCGS MS62 10C            

    

1892 PCGS MS66+ CAC 25C                                                              1892 Raw EF45+ 25C        

    

          1892 PCGS MS65 50C                                                               1900-S PCGS AU55 CAC 50C    

    

 

Again wishing a pleasant Friday workday and close to the week. I will be in the GFRC office the entire day processing more images and hopefully, having another cool client gallery posting for tomorrow's Blog.

Please don't forget to revert with why do you collect coins stories. And of course, please consider a GFRC purchase to keep the numismatic engine chugging along.

See you tomorrow.

 

 

September 20, 2018

GFRC Ramps Collectors Corner to 350 Listings

Greetings once again and welcome to the ongoing Daily Blogs....

Here we are on an early Thursday morning with hot coffee plus a bowl of strawberries and blueberries with cereal and milk for breakfast.

Working at a country home office faciliates a healthy diet as the nearest fast food joint is 20 minutes away. Meals are being planned in advance consistent with a long term goal to transfer residual mid section weight to upper body strength. So far, so good this fall season with the exercise routine and diet. Exercise is an important counter balance to hours sitting at the GFRC office desk and also avoiding the weight gains that is so common among coin dealers. A coin business is mentally challenging but without physical demands. Therefore using exercise to offset the countless hours at a laptop is paramount for staying in shape. Matt Yamatin is definitely my hero and role model.....

Seth Godin's Blog - Diving boards

On most mornings, a quick visit is paid to Seth Godin's Blog for words of wisdom. There are days when the wisdom is complex and more focused on long term business strategies rather than personal insight and improvement. But today, Godin offers words to help contemplate if we are taking occasional leaps or simply living day to day in a predictable manner. Most of us can visualize the feelings of being on the end of a diving board before the plunge.

Diving boards

The leap at the swimming pool is obvious indeed.

Ten steps up the ladder.

The wait at the end of the board.

The moment in between not-diving and diving.

The leap is clear. We can see it and we can feel it.

In day to day life, we have worked to eliminate that feeling. Organizations and marketers and friends work hard to have it happen gradually instead. An incremental, almost invisible creep along a slippery slope, until the next thing we know we’re in a rut, or bored, or ill.

We’ve constructed a life where we rarely leap (new job!) and most of the time, we coast or fade or increment our way forward.

It might be worth investing the effort into turning some of your decisions back into leaps.

This Godin Blog rings so true concerning my personality. I struggle living life with that invisible creep as stated by Seth. Rather there is a need for mental stimulations such as exploring and ramping up Collectors Corners or taking on the challenge of staffing an expanded Fall Whitman Baltimore show footprint with 13 cases of GFRC inventory and a Seated dime set display.

 

GFRC Ramping Collectors Corner Inventory

Wednesday was mostly dedicated to adding incremental GFRC inventory to the Collectors Corner marketplace and adding a business logo. Since GFRC is trusted by a host of consignors to generate results and sell coins, it is my responsibility to increase placement of those coins into new marketing channels. The GFRC website and Daily Blog attract a consistent customer base but there are many more collectors who have not heard of or interacted with GFRC. So best to get out there and increase exposure at the expense of not processing more coins image for a day.

As of this morning, all PCGS holdered Seated quarters, half dollars along with Capped Bust dimes and quarters are being displayed on Collectors Corner. There is still much effort remaining to add all Seated coinage inventory and then moving into United States gold and Barber coins. Once the entire PCGS catalog is listed, then the next step is adding NGC holdered coins. NGC coins required more effort as the corresponding PCGS product identification number must be secured for each listing.

The feedback from GFRC customers and friends, who are monitoring the installation, has been positive. Images are displaying well and immediately differentiate GFRC from other dealers. Those little green CAC labels, on GFRC images, immediately flag CAC approved products. One person commented that GFRC is setting a new level of expectations for product descriptions as many other dealers write little in terms of product descriptions.

Already, there have been two orders via Collectors Corner, therefore pleased and will continue marching forward. This is yet another step in a long business journey.

 

New Coin World Email Newsletter Banner for October

As mentioned in prior Blogs, I've been retooling the Coin World marketing campaign away from paper print and to digital newsletters. Brenda Wyen has been a pleasure to work with as she took the time to truly understand the GFRC business and near term goals. Starting in October, GFRC will be featured as the top advertising banner within Coin World's Monday morning news blast. Here is the graphic concerning the upcoming Whitman Baltimore show. The point is straightforward!

 

Global Financial News

There is considerable Seeking Alpha news this morning worth sharing but first a look at commodties and key U.S. interest rate.

Crude oil has jumped to $71/bbl while spot gold remains flat at $1208/oz. Bitcoin is also steady at $6392 after a Japanese crypto firm was hacked to the tuned of $60M. The U.S. 10 year Treasury yields is holding at 3.07%.

We open headlines with a statement from Beijing Central government that China import tariffs will be lower for trading partners. This appears to be a political step towards dealing with a potential reduction in exports.

China is planning to cut the average tariff rates on imports from the majority of its trading partners as soon as next month - including the U.S. - fulfilling a previous pledge as a tariff war bites into trade. Premier Li Keqiang further said his government wouldn't devalue its currency to boost exports. We "must uphold multilateralism, the rules of free trade... If there are problems, negotiation is needed to solve them."

It appears that the European Union will attempt to counter China's aggressive Belt and Road Inititative with their own strategy for Asian countries.

Response to China's Belt and Road Initiative? The EU has launched a new "Connectivity Strategy" linking Europe and Asia that focuses on "sustainable, comprehensive and rules-based" networks. While it didn't delve into specifics, the bloc said it will build on its experience of regulating connectivity and creating cross-border transport, energy, human and digital links. "All regions and all sectors are important in their own ways."

More bad economic news from South America. Argentina is in recession.

There's more trouble in Argentina as GDP contracted 4.2% in Q2 of 2018. A drought at the beginning of the year slammed soybean and corn production, which account for a big part of exports, while more bad news followed suit. A selloff of the peso in May forced President Mauricio Macri to seek help from the IMF as the government agreed to cut spending as part of a $50B bailout.

U.S. companies continue to repatriate profits back to the mainland but at a lower level that Q1. $170B is still a substantial number for reinvestment in the U.S. economy after nearly $300B in Q1.

U.S. companies repatriated $169.5B in foreign profits in the second quarter - more than in recent periods but marking a decline from a revised $294.9B in Q1, the three months after Congress passed a sweeping tax overhaul. The legislation ended that practice of taxing foreign profits only as companies transferred them to a U.S. parent, instead imposing a one-time tax on accumulated foreign profits.

And finally, Amazon is becoming another example of predatory capitalism and following the same strategy as Walmart in destroying smaller retailers towards consolidating market share.

Retail sector investors are holding tight after a Bloomberg report revealed that Amazon plans to introduce 3K of its cashierless Go stores by 2021. The development could impact retail chains far and wide. Keep an eye on Walmart, Kroger, Target, CVS Health, Walgreens Boots Alliance, Dollar Tree, Dollar General and Sprouts Farmers Market.

 

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

While loading GFRC inventory onto Collectors Corner, it was apparent that there are important Liberty Seated half dollar die varieties being offered. Following are some of these pieces to consider. Hopefully, a passionate die variety collector will be enticed to make an inquiry. I recognize this pieces are expensive; terms can be worked out.

1841-O Baseball Die Crack WB-2R PCGS VF30 CAC 50C                           1842-O Small Date PCGS VF35 50C                

    

1844-O Double Date NGC AU55 50C                                             1846 6/Horizontal 6 NGC EF40 50C

    

          1851 WB-8 R6 PCGS EF40 50C                                            1873 No Arrows Open 3 NGC EF45 50C

    

 

So ends another Blog edition on international road side trash pickup day! As you can tell, there were no new image galleries prepared for today's Blog. Rather, I reverted to sharing GFRC business initiatives towards having consignors and customer understanding the ongoing commitments towards increasing sales velocity.

Today's focus shifts back to coins and image processing along with expected CAC results for last week's submission.

Wishing everyone a great day in the numismatic neighborhood.

 

 

 

September 19, 2018

Huge GFRC Event at Fall Whitman Baltimore Show

Greetings and welcome to yet another edition of the Daily Blog; thank you for stopping by.

We open today's edition with a look at Maine weather. The forecasted residual effects of Florence failed to move northward enough to impact southern Maine on Tuesday. There was a brief four hour period of light rain during the morning hours followed by sun and clouds for the balance of the day. As the Blog is being composed at 5:30 am, seasonal temperatures (58F) are back and hopefully will stick around and pave the way for a full fledge Autumn season with the need for outer garments. It has been a warm and humid Fall season so far.

 

Whitman Baltimore Show Arrives Soon!

The Fall Whitman Baltimore show arrives in roughly four weeks for the GFRC team with many preparations under consideration. There is much to contemplate and organize when expanding a bourse floor presence. There is incremental staffing to recruit and train. Marketing the event is necessary along with inventory preparation for transport and appropriate displays. Finally, displaying my Liberty Seated Dime date and mintmark set requires an insurance rider on Hugh Woods policy. Efforts are underway; following is a preview of what customers and friends can expect at Booth 818.

- 10 cases of regular GFRC inventory from early copper through United States gold. That is roughly 900 quality coins for review and potential purchase.

- 2 cases of discounted coins. These are coins that will only be discounted at the Baltimore show and not on the website price lists. Coins will have net priced stickers and include GFRC aged inventory along with consigner coins where prior arrangements have been made for special discounting.

- 1 case of raw coins. Yes, GFRC will be transportng its raw coin inventory for those who are filling Dansco and/or Whitman bookshelf albums.

- 2 cases containing the Gerry Fortin Liberty Seated Dime collection. I'm thrilled to be placing my award winning Liberty Seated dime set on display at the Baltimore show. Two good friends have been recruited to host the set and allow customers to inspect individual coins. There will be strict rules concerning the handling of the set coins with no more than one coin out of the cases at any time per hosting person. I'm sure some of you will want to inspect many of the dimes. If that is the case, then best to secure an early bird badge and come view the set outside of bourse floor public hours. I will be strict on this matter so please don't ask for special treatment during regular bourse floor hours. The GFRC booth will be expansive and security is always a top priority.

Where is GFRC located on the Whitman Baltimore bourse floor?

Whitman Booth 818 - Home to Gerry Fortin and David Perkins Rare Coins

 

Consignment Wave Continues at GFRC Website!

Yes, new consignments continue to arrive at GFRC and on the price lists. Yesterday brought the partial posting of the Twin Lakes Collection consignment that will wrap up today. Next up is a batch of new offerings from Jim Poston. Following are a few highlights to wet your appetite. The entire lot should be posted to the Blog as an evening preview.

Jim Poston Consignment - Quality New Offerings Coming Soon!

1826 NGC AU50 GOLD CAC 50C

1820 O-108 ANACS AU53 OWH 50C                                                   1888 NGc MS64 50C         

    

 

Global Financial News

U.S. 10 year Treasury bond yields have spiked during the past 24 hours to 3.06% as the major commodity and interest rate news of the day. Otherwise, gold, crude oil and Bitcoin and essentially flat to the prior day.

The United States and China trade war continues to dominate Seeking Alpha headlines. Current news is somewhat positive with lower tariffs and retaliatory actions by Beijing. Asian stock market futures are positve as local markets are pleased with the restraint of both parties.

So China will not hit back at the United States with an all out RMB devaluation. The USD : RMB exchange rate is 6.85 and flat for that past 45 days.

Equity markets are starting to regroup again as traders remain unflustered by the latest phase of the U.S.-China trade war. "There was relief as the United States set the initial tariffs at 10 percent, rather than the expected 25 percent, seen by some as a gesture that it was buying time for further negotiations," said a senior strategist at Sumitomo Mitsui Asset Management. China also hit back against the U.S. with a softer punch than anticipated, indicating the nation will not engage in competitive currency devaluations. In Asia, Japan's Nikkei shot up 1.1% and Hong Kong's Hang Seng Index rose 1.2% on the day. The Shanghai Composite Index and Australia's ASX 200 Index both registered a gain of 0.5%. Meanwhile, the European Stoxx 600 Index is showing a 0.1% bump, and U.S. stock futures are mixed in early action.

There is speculation as to the reason behind the 10 year Treasury bond yield spiking to 3.06%. I don't buy a China sell off of U.S. Treasuries as Beijing's position is so large that large selling will decrease the value of their foreign reserves.

Keep an eye on interest rates as the China-U.S. trade battle ratchets up. Some analysts think the recent selloff in the bond market could be partially tied to concerns that China could use other measures to retaliate against the U.S. With Beijing seen as having limited room to match tariffs over the long term, some say China could attempt to dump the bonds to drive up borrowing costs in the U.S. The 10-year Treasury yield currently stands at 3.059%.

The Bank of Japan continues to create "dark money" through artificially low interest rates.

The Bank of Japan stood pat with plans to keep its benchmark rate very low "for an extended period," voting 7-2 to maintain short-term rates at -0.1%. It also reiterated an easing pledge to buy about ¥80T in government bonds per year (about $712B). Sitting below 1%, Japanese inflation is still below the bank's 2% target.

And finally, it looks like Boeing plans to ramp its 737 production to 63 planes per month! More jet fuel consumption on a global basis....

The mayor of Renton, Washington, tipped that Boeing is developing plans to raise its 737 production rate to a record 63 per month, even as suppliers struggle to keep up with the current pace. The mayor refused to name the local Boeing managers who told him about the plan for each of the factory's three assembly lines to produce 21 jets, saying he wants to protect relationships with his city's largest employer.

 

Featured Coins of the Day - Great Looking Indian Cents!

Ok, GFRC is not yet well known for handling early U.S. copper and Indian Cents but consignors are providing some awesome pieces to sell. So let's showcase some copper coinage to close out today's Blog.

1875 ANACS OWH MS65 Red                                                       1883 PCGS MS64RB    

    

1884 PCGS PR64BN                                                                    1897 PCGS PR64RB

    

     1898 PCGS MS64RB                                                                   1906 NGC MS65RD Fatty

    

 

So end today's Blog. There is much to get done today including a health walk, shipping and posting many more new coins to the price list. Collectors Corner posting also need attention as the first GFRC order, from that marketplace, arrived yesterday.

Please check back tomorrow for more ramblings and new coins!