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Gerry's Daily Blog Archives - April 2017

April 29, 2017

Welcome to the Daily Blog on a Saturday morning. Today's edition will be brief and your understanding is appreciated.

The Central States show is essentially in the history books as Saturday arrives. Attention shifts to packing, catching a late afternoon Ohare flight and returning to Maine home during early Sunday morning hours.

Central States Show Report Day 3

Central States show attendance on Friday was notably lower than Thursday and so were GFRC sales.

The GFRC day start with a successful LSCC regional meeting. Meeting attendence was near or at record level. Stephen Petty opened the meeting with introductions and a group photo followed by Len Augsburger demonstrating how to access LSCC information on the Newman Numismatic Portal website. Then came the first test drive of The Many Faces of Seated Liberty presentation by your's truly. I had fun giving this presentation with an active audience. Closing attendees feedback was excellent towards some important changes before using the presentation at the ANA Summer Seminar followed by the Summer FUN show in early July.

Bourse traffic on Friday was light as compared to Thursday. Many Thursday customers returned to the GFRC table to visit along with a few new faces. Sales volume was lower than Thursday. The newly discovered 1856-O F-103 dime found a new home in a major Liberty Seated dime varieties collection as the day's highlight. The general opinion on the bourse was that the Central States show is too long for the available collector base and reduction by one day would be welcomed.

Friday's highlight was dinner at Portillo's with Tony Albert. Tony is a diehard Liberty Seated dime die varieties collector and great friend. Each year at Central States, Tony and I make a point of going out for dinner and enjoying each other's company. Two like minded individuals, sharing the same traditional beliefs, are free to chat about numismatics and the state of affairs in Chicago and the United States. Here is a photo of Tony during pick up of the evening's dinner.

 

GFRC New Consignment News

A new consignor joined the GFRC community on Friday and will be known as the LaSalle Collection moving forward. This individual was a former LSCC member and a friend of Jim O'Donnell. After shifting his collecting interests to banknotes, he is once again back to Liberty Seated coinage and attempting to disposition his accumulations during the 1990s. We had a great time chatting and viewing some of this coins brought for grading and originality opinions. Following are the first round of consigned offerings from the LaSalle Collection.

Trade $1: 1873 NGC PF63; 1876-S PCGS MS64 gem original; 1880 PCGS PR64 CAM another gem; 1882 PCGS PR64

Gold $2.5: 1897 PCGS MS64 with PL fields, a superior example

So ends the Daily Blog on a Saturday morning. Let's hope that the Chicago to Boston flight on United Airlines is on time. The last two times that I've taken this flight, substantial delays left me spending the night in Logan's baggage claim area after missing the last Concord Trailway bus of the day.

Wishing everyone a great spring weekend. If my return trip to Maine is smooth, then I may just skip writing a Blog on Sunday morning as a much needed break is at hand after being on the road for weeks.

 

 

April 28, 2017

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

Central States Show Report Day 2

GFRC sales momentum from the Whitman Baltimore show continues at Central States......

Yes, the above is an accurate headline to describe GFRC's sales experience during the first full day of public attendance at the Central States show. The bourse opened at 10:00am and immediately the GFRC/W. David Perkins table was surrounded by old regional friends who were in a buying mood. Liberty Seated halves were on fire with eleven pieces sold followed by Seated dime and quarters also being active. Just this week, GRC has sold nearly twenty Liberty Seated halves online and at Central States with most being from the Pleez B. Seated and Seal Beach Collections.

Customers visits were consistent on Thursday and a short break for lunch took place at 3:15pm. By 5:00 pm, the show slowed to the point where I could focus on loading sales orders into the COIN database for removing sold items from the website. A final tally, later in the evening, indicated a solid five figure sales day to open the Central States show.

How was the overall show? Since being so consumed at the GFRC table, I must rely on commentaries from friends and my favorite wholesaler who would circle around to the table during the day. The general opinion was that of an active show with a serious lack of quality coins on the floor. Wholesale dealers were complaining of not being able to buy as there was so little better quality early type available. Reports on the Heritage auction lots were similar. Better quality coins with conservative grading to earlier standards were very scarce. As I've been saying for several years, since launching GFRC, conservatively graded coins are held in collector hands and not generally available in the market place. It takes consignments from "strong hand" collectors to free up new inventory that is so quickly absorbed by other advanced collectors....therefore the GFRC Trading Desk business model is well matched to the current marketplace.

GFRC New Purchases and Consignments

Thursday started with an overdue opportunity to meet the Wisconsin Collection consignor. He arrived at the GFRC table, along with his lovely wife, for introductions and conversation consistent with being old friends. It truly is amazing how the power of the internet enables long distance friendships.... Before leaving, the Wisconsin Collection consignor dropped off the following top quality coins as a new consignment. GFRC customers should take notice.

Seated 10c: 1838 Large Stars PCGS MS63 with excellent luster and gem eye appeal

Seated 50c: 1847-O WB-14 PCGS EF40 with shattered reverse and partial cud; 1862 PCGS EF45 choice original medium gray and so wholesome

Gold $10: 1906-S PCGS MS63 with old time orange gold patina that every collectors wants.

Towards late morning, a new customer purchased the last 1855 WA Seated half on my price list and offered some raw coins in trade. He had recently broken up a type set and wished to sell these pieces. After reviewing his coins, GFRC purchased nearly the entire lot and ending up writing this individual a check. Following are new quality purchases from this deal.

Bust 10c: 1814 Small Date AU53 with substantial luster; 1836 EF45 choice with old album toning

Bust 25c: 1835 EF40 choice original gray with hammered reverse strike

Bust 50c: 1837 Reeded Edge EF40 choice original medium gray

Seated 50c: 1847 AU50+ choice original gun metal gray-blue and so attractive; 1871 AU50 light toned with mirrored surfaces.

The GFRC day closed with a pleasant dinner with two old friends at Portillo's in Shaumburg and the perfect way to wrap up the day. One of the topics was an idea to display my Liberty Seated dime collection at the November Baltimore show and potentially sell the set during the 2018 or 2019 timeframe. More on this emerging decision at a later date.

LSCC Regional Meeting - 9:00am Prosperity Room - Renaissance Convention Center.

The Central States regional meeting of the Liberty Seated Collectors Club takes place this morning. LSCC Central Director, Stephen Petty, will be hosting the session with Len Augsburger and Gerry Fortin as the main speakers. I'm expecting a strong attendance given the number of collectors, at the GFRC table on Thursday, who were looking forward to the meeting. My presentation is entitled, The Many Faces of Seated Liberty and will be a test drive of the same presentation to also be given at the NH Coin Expo in Manchester (next week), at Summer FUN and at the Central Ohio Numismatic Association show during Labor Day weekend.

Featured Coins of the Day

Let's wrap up the Blog with some nice Liberty Seated coins that still remain in GFRC inventory. Please don't be bashful to order online while I'm attending major shows. Your email order will be processed and coins removed from the bourse cases.

  

  

  

So ends the Daily Blog on a Friday morning. My sincere thanks to everyone who supports the Blog with ongoing visits.

 

 

April 27, 2017

Welcome to the Daily Blog from Schaumburg on a Thursday morning.

When opening the laptop this morning, truly sad news arrived. An email from Dan White (Osprey Collection) announced the passing of his beautiful Belgium wife. Bernadette Van der Stichele-White had passed at 4:15 am after a long battle with cancer.

Bernadette was an elegant and charming woman with exceptional French European flair. To know her, even for less than two years, was a blessing. I first met Bernadette at the 2016 Winter FUN show after Dan partnered with GFRC as a retail outlet for his United States gold consignments sourced from Europe. One immediately noted when Bernadette walked into a room given her traditional European fashion. The Whites lived in Osprey while the Fortins in nearby Venice, Florida. Dan and Bernadette were that special international couple having lived in Belgium, the United States and Saudi Arabia while Dan worked in the oil industry. After retirement, their lives gravitated between Brussels and Osprey. Bernadette was fluent in five languages and a former European Union adminstration translater.

Diane and I will long remember the special dinners at the Oak Country Club in Osprey and the evening phone calls with Dan and Bernadette while enjoying evening drinks on their lanai. Those phone calls stopped during late 2016 as Bernadette waged a personal battle with cancer while Dan did all that was humanly possible to save his charming Belgium wife. Bernadette made a lasting impression and is with a sad heart that I write today's Blog.

 

Central States Show Report - Day 1

The Central States show is a long event for coin dealers. The promoters are encouraged to benchmark the Whitman Baltimore events for pointers towards scheduling a more efficent show.

Dealers are required to arrive on Tuesday for a Wednesday morning 8:00am setup time. GFRC and W. David Perkins were fully operational by 10:00am with the bourse being only open to early birds for the balance of the day. Frankly, the bourse floor was idle on Wednesday with an occassional early bird walking by and some dealer to dealer wholesale for those in a buying mood. But being positive, I used the idle time wisely. Time was spent walking the bourse for buying and at Heritage lot viewing for a special client. Then there was a meeting with Len Augsbuger for strategic discussions concerning the future direction of the LSCC and the numismatic industry as a whole. Len is keenly positioned, in his role of Newman Numismatic Portal Executive Director, to monitor the industry's migration to online sales and information sourcing. We also discussed the Daily Blog and future steps. It was a fast paced discussion between two former electronics and communications industry executives.

GFRC Central States New Purchases - 2nd 1856-O F-103 Seated Dime is Discovered

Something special occurred at the Central States show. After searching for over a decade for an 1856-O F-103 Seated dime example for my reference collection, a PCGS MS63 example was purchased. Here are the web-book images of the sole previously known F-103 (to me), per owner Lynn Ourso. Lynn provided this example during the early 2000 timeframe when I was conducting Liberty Seated dime die variety research. He noted that his coin appeared to be a different Medium O reverse die for that year. Essentially all 1856-O Medium dimes are struck with Reverse F with die cracks emerging below the lower left wreath (F-108a) and turning into a cud at terminal die state (F-108b) while the F-103 has a tiny die crack from the lower right wreath to the rim immediately right of the stem.

1856-O F-103 - Lynn Ourso Plate Coin

   
   

The second known F-103 example is a choice example and is accurately certified at the assigned PCGS MS63 grade level. Since I am not longer collecting Liberty Seated dime varieties, this piece is for sale. Images will be captured for an important web-book update and the price list. Following is the description of the PCGS MS63 example as found on the GFRC price list this morning.

Only the second example seen since published the Liberty Seated Dime website back in 2004. The F-103 die pairing, with second Medium O reverse, was discovered by New Orleans coin dealer, Lynn Ourso, in the early 2000 timeframe and included in the web-book when published in 2004. Since that time, I've searched for an example for my reference collection without luck. At the 2017 Central States Numismatic Society show, this mint state example surfaced and was purchased by GFRC. The mint state surfaces allow visibility into the terminal die state condition of Obverse 1 when paired with Reverse C; the second Medium O reverse that saw limited usage. Surfaces are perfectly original with thick gray-rose patina on the obverse and bullseye original orange-gold and surrounding a sky blue center on the reverse. The obverse die cracks are prominent while the reverse die crack at 5:00 is also clear. Luster is above average as is the eye appeal. Housed in 2015 style PCGS holder. A special opportunity of the advanced Liberty Seated Dime die variety collector.

Other GFRC New Purchases

Seated 10C: 1840 F-102 Chin Whiskers PCGS MS62 with pretty color and luster; 1843-O PCGS VF20 CAC choice original and an old friend returns; 1876-CC F-115b VF25 original with double reverse cuds; 1884-S F-105 NGC MS63 original old time rose-blue patina

Seated 20C: 1875-S PCGS AU55 CAC OGH lustrous and conservative grading

Seated 25C: 1864-S PCGS VF20 original gray; 1873 No Arrows Closed 3 PCGS EF40

Seated 50: 1841-O PCGS EF45 choice original gun metal gray-blue; 1849 PCGS MS63 gem for grade

Trade $1: 1878-S PCGS AU58 choice original

Gold $2.5: 1901 PCGS MS63 OGH classic old time orange gold and conservative grading.

 

Featured Coins of the Day

Today's featured coins are from the Osprey Collection in honor of Bernadette Van der Stichele-White. Bernadette and Dan loved to travel through Belgium, France, Switzerland and Spain searching out United States gold.

Diane and I express our deepest condolences to Dan and the White family.

  

  

  

 

 

April 26, 2017

Greetings From Schaumburg, Illinois and the Central States Show!

Tuesday's travels were pleasant with a long nap on the Concord Trailway bus ride to Boston and an empty middle seat on the Boston to Chicago flight. The extra United Airlines space allowed for the processing of Indiana Collection consignment images which enabled today's Client Gallery. The Taxi 7 ride from Ohare to the Renaisannce Hotel and Convention center was quick and arrived by 5:15pm, secured a dealer badge and left GFRC coins in the Security Room. Then it was time to start pre-show buying. A call to my favorite wholesale dealer resulted in a meeting at the 15th floor hospitality lounge with W. David Perkins already drinking wine along with other dealer friends. After an appetizer dinner and wine, it was time to look at coins and add new inventory.

Following are new GFRC purchases for customers to consider. Quality and eye appeal on this group are high and I expect that most will sell quickly. For once, more great Barber coins were purchased than Bust and Seated combined.

Capped Bust 5c: 1833 LM-9 PCGS MS65 CAC..a superb gem with natural light bullseye rainbow toning. I'm so pleased to be offering such an incredible type coin.

Seated 25c: 1874-S PCGS AU50 with considerable luster

Barber 25c: 1892 PCGS AU58 CAC natural gray-brown with lots of luster under bright light; 1916-D PCGS AU58 CAC steely light gray luster

Seated 50c: 1843-O PCGS AU53 attractive light gray

Barber 50c: 1899-O PCGS AU58 choice golden-gray-aquamarine surfaces and scarce date at grade level; 1908-D PCGS AU58 light rose-gray with ample luster.

GFRC Consignment News

Pleez B. Seated Collection

A sincere thank you goes out to community friends who are purchasing Liberty Seated halves from Mark Mattox's Pleez B. Seated Collection. The past few days brought conversations with Rhonda Mattox on the business process for divesting the balance of Mark's collection. Yesterday. nine of Mark's halves sold including the 1851, 1872-CC and 1873-CC examples.

Indiana Collection Consignment

There are many important Liberty Seated dime die varieties in the following Indiana Collection client gallery to consider. With luck, I will have these loaded into COIN database and priced by Thursday morning.

Indiana Collection Consignment - Liberty Seated Dime Varieties

    

    

    

   

Let's end the Daily Blog at this point. A busy morning is ahead with breakfast, Heritage lot viewing and dealer table setup. Thank you for stopping in and so looking forward to seeing old Chicago area friends over the coming days. Have a great balance of the week.

 

 

April 25, 2017

GFRC is on the road again! Thanks for stopping by at the Daily Blog on a Tuesday morning.

Today's Blog edition will be brief due to mid morning bus ride from Portland to Boston's Logan airport. A direct flight from Portland to Chicago is much more convenient but United Airlines only flies small regional jets out of Portland. I am unable to fit a large carry on these small regional jets, there Boston's Logan airport is necessary to secure 737 airplane transport.

The Central States show promises to be busy with dinner meetings planned for most evenings. Today, I meet with my favorite wholesale dealer friend for dinner and reviewing his latest offerings. Wednesday evening dinner plans are with Len Augsburger and an LSCC strategy discussion.

GFRC News

There are multiple signs that the United States coin market is improving. GFRC has enjoyed a notable increase in March and April sales. While sales volume is increasing, the key indicator is the number of new and repeat customers across all GFRC product lines. On Monday, a record 12 USPS Priority boxes were shipped in a single day....yes, several boxes were shipped ahead of payment due to traveling to the Central States show. But the increased volume is clearly evident via the individual number of shipments.

Following are several new coins heading to the price list or were listed as part of a recent Seal Beach Collection consignment without images.

GFRC News Purchases + A Seal Beach Collection Consignment

    

  

We end the Daily Blog here as time for shower and packing.

I will be back on Wednesday morning with the first of many new purchase reports from Schaumburg, IL. Have a great day!

 

 

April 24, 2017

Another Monday arrives and it will be a gorgeous Maine day. Thanks for stopping in at the Daily Blog.

I'm clearly determined to take the top down Miata into town for an afternoon post office run followed by storing coins in the bank vault ahead of tomorrow's travels to Chicago. This is the reward for staying in the packaging and shipping department until 11:00pm last evening. Sunday orders were almost to the five figure mark resulting is an LL Bean canvas bag full of 2 day priority boxes. Welcome to the life of a coin dealer....

 

GFRC Open Set Registry News

Thanks to the ongoing support from Tom Bender, I'm pleased to announce that Eugene Gardner's Liberty Seated Quarter collection has been added to the Open Set Registry. Gene's magnificent collection will probably never be exceeded in overall quality and scoring attributes. The set comes in at a weighted grade of 65.9 with 61% CAC approval rate.....amazing. Tom and I believed that adding the Gardner sets to the Open Set Registry is paramount for documenting the accomplishments of this LSCC Hall of Fame member.

 

LSCC Regional Meeting Presentation - The Many Faces of Seated Liberty

Much of Sunday was spent building an LSCC presentation for Friday's 9:00am regional meeting at the Central States show. The presentation is a departure from traditional die variety or individual Liberty Seated coinage discussions. There was an idea floating in the back of my mind for several months and Sunday brought the exploration of a new concept. After six hours of JPEG file manipulation and using Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins as reference, the presentation came together. A review of the product by Len Augsburger and Bill Bugert brought important feeback for the concept and how to approach the delivery.

Here are several slides from the presentation as a preview for those attending the LSCC regional meeting.

 

Featured Article Feedback

In yesterday's Blog, an article by Nicholas Carr was presented that discuss the impact of the information age on human beings and society as a whole. By evening time, I received this thoughtful feedback from a GFRC customer.

Also, enjoyed the recent blog and link to the article about tech advancements and negative effects on society.   I think the author stretches things a bit with respect to people knowing too much about each other and becoming "enemies" ( he cites psych research done in the 70's).  You can find a psych study to support about any assertion one cares to make, and a lot of them have not been reproduced.  What scares me about "social media" is that it is all about profit, which means keeping people glued to the screen to see their ads.  They do this, as I am sure you know, by flooding you with "stuff" that makes you feel good by supporting your pre existing beliefs and preferences.  Thus one's assumptions about events and other people may be completely wrong, but constantly reinforced with "evidence."  Contrary evidence is not presented at all.  It's the same if one only watches one news network on TV that supports one's political beliefs. There seems to be no place for reasonable debate anymore with everyone dug into their constantly reinforced cognitive pillboxes. 

As a physician, it is not unusual for me to map out an evidence based plan of care for a patient, only to have them disregard it because of something they saw "on the internet."   C'est la vie! 

 

GFRC Consignment News

I'm pleased to report that the Indiana and Half Way There Collection consignments are photographed. Don't I enjoy photographing raw coins rather than those in recent NGC and PCGS edge view holders. Raw coins present no lighting reflections so image resolution is much larger with a crisper end product. There is something to be said for raw coins indeed! Image processing will be done during Tuesday's Concord Trailway bus ride to Logan and then the UA flight to Chicago.

 

Featured Coins of the Day

In Sunday's Featured Coins module, several Seal Beach Seated halves were illustrated coupled with pricing reductions. The marketing effort was successful as one of the 1843-O PCGS AU58 halves is on hold this morning.

Today's featured coins are from two small consignments that will be returned to owners if not sold at the Central States show. GFRC supports consignors, even if they have only 2-3 pieces to offer. However selling a 2-3 coin consignment within a four to six month timeframe can be challenging and patience is required. The numismatic marketplace is not one of constant demand for every Capped Bust or Liberty Seated denomination. Asking prices and quality also enter in the equation.

So here are several offerings that need to find new homes quickly else they are going back to the consignors. Someone should purchase the 1865 PCGS VF35 ex Childs Collection half dime along with the 1842 PCGS AU50 Seated quarter. These are solid pieces.

  

  

Thanks for stopping by the Daily Blog. Time for a shower and more Central States order invoicing and last minute shipments. I will be back with some new offerings on Tuesday morning before starting another travel day. Have a great week and hopefully, I will see you at the Central States show. Please remember to drop by Table 910 to say hello.

 

 

April 23, 2017

Welcome to the Daily Blog on a bright sunny Maine morning.

One becomes spoiled living in Florida as there is nearly continuous sunshine with minimal rains. Maine, on the otherhand, is well know for its dreary month of April and probably the reason April showers bring May flowers was coined. So for the next 48 hours, Maine will be sunny and time for considerable GFRC photography and oh yes, cleaning up the snow plow lawn damage surrounding the driveway.

 

GFRC at the Central States Numismatic Society Show

Yes, the Central States show week is upon us! GFRC travels to Chicago, then Schaumburg on Tuesday. GFRC and W. David Perkins will be sharing a corner table and eight cases. With only four cases, I must carefully decide which coins will be hand carried to the show. If customers wish to see certain coins at CSNS, then please email me no later than 3:00 pm on Monday to ensure that those coins are included in the inventory preparations. Already a number of purchased orders will be delivered at the show resulting in no USPS shipping charges.

GFRC also seeks new Consignments and outright Purchases at the Central States show. Coins must be consistent with GFRC quality standards and product lines. So please stop by at table 910 and let's chat on your collecting and divestment goals. GFRC can be an important resource for education and aiding with hobby expansion or management.

 

GFRC Consignment News

Lots of progress was made on Saturday with GFRC consignments and your understanding of the processing and posting delays is appreciated. As a one person operation, the bandwidth is limited but the heart is always inspired to provide the best service possible. Here is where we stand with posting consignments on a Sunday morning.

Burchs Creek Collection

The balance of the Burchs Creek Collection Morgan dollars were priced and loaded to the price list on Saturday. I've illustrated the new lot with the following Client Gallery. Pricing has been set using the CDN Greysheet with many pieces at bid or slight above bid prices.

Burchs Creek Collection Morgan Consignment Part 2 - April 23, 2017

    

    

    

    

Indiana and Half Way There Collection Consignments

Both consignments have been removed from their 2x2 cardboard holders and placed in safety flips and will be photographed today. Then comes the task of image processing and loading into the COIN database.

Gansu Collection Consignment

This China sourced consignment remains in the processing queue and will have handled after CSNS.

 

Featured Article: How tech created a global village — and put us at each other’s throats by Nicholas Carr

Recent global news including the shifting French attitudes towards conservatism aka Marine Le Pen, along with Brexit and the election of Donald Trump has me wondering..... Is there a global push back on the rate of technological change and its impacts to society? The most extreme push back could be found in the Moslem world when thousand year old societies are violently fighting change. Wars are constantly fought to preserve ethnic integrity in the Middle East and previously, in Eastern Europe. And now a new wave of conservatism is sweeping Western nations along with protests from the left. Has technology and information access placed too much stress on humanity? Or are we suffering from electronic media amplification of the most minute events captured on video?

I searched the web this morning for an article to explore this topic. Most of the searches lead to physics or mathematical articles on rate of change quantification. But by dumb luck, the Boston Globe online version contained a timely article by Nicholas Carr entitled, How tech created a global village — and put us at each other’s throats. This article addresses the thoughts I wished to explore and opens with the following.....

Welcome to the global village. It’s a nasty place.

On Easter Sunday, a man in Cleveland filmed himself murdering a random 74-year-old and posted the video on Facebook. The social network took the grisly clip down within two or three hours, but not before users shared it on other websites — where people around the world can still view it.

Surely incidents like this aren’t what Mark Zuckerberg had in mind. In 2012, as his company was preparing to go public, the Facebook founder wrote an earnest letter to would-be shareholders explaining that his company was more than just a business. It was pursuing a “social mission” to make the world a better place by encouraging self-expression and conversation. “People sharing more,” the young entrepreneur wrote, “creates a more open culture and leads to a better understanding of the lives and perspectives of others.”

The article's salient point is expressed a bit later and then supported by a number of psychology experiments.

Yet we live in a fractious time, defined not by concord but by conflict. Xenophobia is on the rise. Political and social fissures are widening. From the White House down, public discourse is characterized by vitriol and insult. We probably shouldn’t be surprised.

For years now, psychological and sociological studies have been casting doubt on the idea that communication dissolves differences. The research suggests that the opposite is true: free-flowing information makes personal and cultural differences more salient, turning people against one another instead of bringing them together. “Familiarity breeds contempt” is one of the gloomiest of proverbs. It is also, the evidence indicates, one of the truest.

This paragraph rang true as I do not frequent numismatic message boards for this exact reason......

If social media brings out the misanthrope in us, it can also unleash darker impulses. In a 2014 article in Personality and Individual Differences, three Canadian psychologists reported on research that found that people with sadistic tendencies tend to be among the most active commenters in online forums. Like other sadists, so-called trolls are motivated by the anticipation of pleasure, the study revealed; they take joy in inflicting psychic pain on others. Although it’s not clear whether the Internet breeds cruelty or just encourages it, the findings “add to accumulating evidence linking excessive technology use to antisociality,” the researchers wrote. “Sadists just want to have fun . . . and the Internet is their playground!”

If there is available time on a Sunday morning, might I suggest a review of this article? It is a long but informative read and your feedback is welcomed.

 

Featured Coins of the Day

This morning's Featured Coins focus is on Seal Beach offerings. I wish that all consignor coins could sell quickly but reality is different. Matching a specific coin to a customer requires time and patience. Quality and pricing must match customer disposable income. Just becauses a coin takes longer than average to sell does not imply that the coin is undesirable.

Seal Beach is one of the top GFRC consignors in terms of sales. We've decided to lower prices on those items that have aged within GFRC inventory. So please take a look at the following coins as potential acquisitions at lower pricing levels.

  

  

So ends another Daily Blog edition. Thank you for stopping in and reading these ongoing ramblings. Have a great Sunday and looking forward to meeting GFRC friends at the Central States show.

 

April 22, 2017

Greetings and welcome to yet another Daily Blog edition. Your ongoing support for the Blog and GFRC business is sincerely appreciated.

Maine is stuck in an unpleasant weather pattern with constant cloud cover and showers. Sunday is forecasted to bring sunshine by early afternoon; a opportunity to conduct coin photography of new consignments. Monday is also forecasted to be pleasant followed by Tuesday's travels to Chicago for the Central States show. After the long round trip journey to Shanghai, a short 2+ hour flight to Chicago will be so easy.

No content is prepared for this morning's Blog. Friday allowed me to catch up on shipping backlog and posting a substantial number of new offerings. The day wrapped up at 10pm with traditional one hour of relaxation in the basement sound room. Welcome to the life of a coin dealer.

GFRC Consignment News

The latest Seal Beach Collection consignment reached the price lists during Friday evening hours after a quick pricing consensus session with the consignor. As usual, the Seal Beach Liberty Seated halves are well above average in quality. Here is a brief display in Client Gallery format sans the 1872 PCGS AU50 which is in the photography queue.

The 1846-O and 1861 halves are already sold. The 1841-O WB-1 is a gem and probably set a pricing record when last sold at Heritage Auction during 2015. As beautiful as this piece is, Seal Beach has found an upgrade. The 1877-S half is formerly from the Pleez B. Seated collection, then Seal Beach. Who will be the next owner?

Seal Beach Collection Consignment - April 22, 2017

    

   

Malvern Collection Consignment

The Malvern Collection consignment also debutted on the price list late Friday. Already, a gorgeous 1876 PCGS AU58 double dime has been placed into an advanced type set. The 1864 Small Motto 2 cent piece deserves attention along with the 1875-CC PCGS AU58 OGH double dime.

Burch Creek Collection Consignment

The balance of the Burch Creek Collection Morgan dollars were photographed while in Florida. COIN database insertion, pricing and image processing are scheduled for today.

Gansu Collection Consignment

A reminder that the Gansu Collection Consignment is the first GFRC offering from a China customer. Since many of the coins were purchased from GFRC, then some images are already available. But the large raw component will be photographed on Sunday followed by COIN database insertion.

Half Way There Collection Consignment

This 31 piece Liberty Seated half dollar variety treasure trove is all raw. Coins must be moved from 2x2 holders to flips in preparation for Sunday or Monday photography. COIN database loading will occur this weekend.

Indiana Collection Consignment

The Liberty Seated dime varieties from the Indiana Collection received a substantial amount of FRoRs and will sell well once added to the price list. Coins must be moved from 2x2 holders to flips in preparation for Sunday or Monday photography. COIN database loading will occur this weekend.

GFRC Bits and Pieces

Being a coin dealer means viewing and processing a constant stream of new coins. One quickly develops a sense of what constitutes an average coin while occassionally a very special example jumps out and brings back the "show and tell" emotions of a collector. In other words, telling friends....look what I just found. Those feeling presented themselves on Friday when writting a description for the following 1826 Capped Bust Half dollar and loading to the price list. This 1826 half as to be one of the best struck early halves seen in a long time....the obverse stars look like mountains under a 10x loupe.

For budget collectors, I've loaded some attractive Morgan dollars to the price list on Friday evening. These were purchased at my favorite local Maine coin shop before heading to China.

    

  

Featured Coins of the Day

United States gold sales continue to be quiet though the precious metal is on a bullish upward trend. I would recommend that GFRC customers slowly allocate funds to gold coins and construct a basic type set using common date pieces in AU55-AU58 grades. The numismatic premiums over bullion value are minimal and the resulting set is a combination numismatic and financial asset as a rainy day fund. Selling numismatic gold is straightforward as the premiums are lower than for silver type. Here are a few recommendations from the GFRC price lists.

  

  

  

Have a great late April weekend and thank you for stopping by at the Blog. Lots of pictures today and nice coins to consider on a Saturday morning.

 

 

April 21, 2017

Another exciting week comes to an end as Friday's Daily Blog is written. Welcome and thank you for reading these musings.

Writing each edition of the Daily Blog takes considerable effort and planning. One could say that my life has found a new purpose or a higher level of organization. Allocating time, once a day, and writing for several hours is a positive habit for personal growth and driving the GFRC business forward. Plans are made and delivered. Priorities are set and the myriad of life's distractions can be ignored as there is clear purpose. Writing skills show improvement even though I am dyslexic. These realizations were crystallized just a few moments ago when reading Seth Godin's Blog for April 21, 2017. This straightforward blog is incredibly powerful and worth sharing.

Who are we seeking to become?

We get what we invest in. The time we spend comes back, with interest.

If you practice five minutes of new, difficult banjo music every day, you'll become a better banjo player. If you spend a little bit more time each day whining or feeling ashamed, that behavior will become part of you. The words you type, the people you hang with, the media you consume...

The difference between who you are now and who you were five years ago is largely due to how you've spent your time along the way.

The habits we groove become who we are, one minute at a time. A small thing, repeated, is not a small thing.

[And the same thing is true for brands, organizations and movements.]

 

GFRC News

The decision to not attend the Bay State show in Malborough, Massachusetts today is so well founded as the consignment backlog is enormous and servicing consignors is the key GFRC priority.

Most of the Whitman Baltimore Capped Bust and Seated half dollar deal illustrated in the April 17-18 is loaded on the price list and already one Capped half has sold. This individual wrote, after purchasing the 1825 O-106, "If I didnt have to put a new roof on my rental property I'd buy a couple more!"

Please check these new Capped Bust halves as the quality is well above average and the pricing being fair. All examples residing in 2015 style PCGS holders are completely fresh to the market from an old time collection. These halves have been stored for years and a strictly original. There are many more behind this lot that can be purchased by GFRC. It all depends on the sale rates of the new lot. If there is reasonble demand, more will be purchased from the source. Already, a second shipment arrives today including the 1809 XXX O-110 PCGS AU53 condition census example and more Liberty Seated half dollars.

Also check the 1834 and 1835 Capped Bust halves in sequentially numbered NGC holders. These two pieces are identical twins in terms of toning and surface preservation states. They are very similar to the Burchs Creek halves in ANACS old white holders remaining on the price list. Someone should purchase the 1834 and 1835 pair as examples of original toning and the fact that these two halves were placed in identical storage conditions.

  

 

GFRC Consignment News

Following is the Malvern Collection consigment gallery. Malvern is the debut of a new GFRC consignor and we are pleased to welcome yet another person to the GFRC community. This individual enjoys collecting the odd ball denominations. Below are six coins to consider with the 1875-CC PCGS AU58 OGH and 1876 PCGS AU58 double dimes being an impressive pair. These should not last long once reaching the price list later today.

Malvern Collection Consignment - April 21, 2017

    

    

Indianan Collection Consignment - A Seated Dime Varieties Treasure Trove

It is always a lot of fun to open consignments from the Indiana Collection. This individual has been salting away rare Liberty Seated dime die varieties for years and, on occassion, will release a few for GFRC customers.

Yesterday's shipment will well above average and frankly, a treasure trove for the Top 100 Varieties set builder. None are holdered. Here comes the lastest consignment from the Indiana Collection.......enjoy checking these out!

Seated 10c: 1839-O F-103 VF35 extremely rare, light gray; 1839-O F-107 Small O VF25 original with some light marks; 1839-O F-109 Small O EF45 long ago clean and one of the nicest seen of the variety; 1840-O Large O F-101 EF45 long ago clean; 1841-O F-108a polished die EF45 even gray; 1851 F-105b EF45 original gray; 1853-O F-105 EF45 long ago clean and so scarce at this grade level; 1874 F-114 missing right arrow, original VG8 and so scarce; 1878 AU50 Type I reverse, darker gray; 1875 F-123 EF45 cracked reverse die; 1891 DDO F-109a AU50 so rare with light clean.

 

Global Financial News

Spot gold moves into a new trading range but this time the average of the range is $1285. Below is the 2 year technical chart with bullish technical indicators. Next barriers are $1310 and $1350. I would not be shorting gold currently as the chart is setup for incremental gains.

Global attention shifts to the left vs. right political drama in France. Here are two Seeking Alpha headlines concerning this Sunday's presidential election.

The world is turning its attention to France, where voters will head to the polls on Sunday to choose their next president. It's a close race between the four frontrunners, which include independent Emmanuel Macron, far-right Marine Le Pen, conservative Francois Fillon and far-left Jean-Luc Melenchon. Since an outright majority is unlikely, a run-off between the two leading candidates is expected and scheduled for May 7.

What does the vote mean for the eurozone's second-largest economy? Both Marine Le Pen and Jean-Luc Melenchon have proposed, via different routes, taking France out of the euro and, like Britain, out of the EU. Other candidates have put a greater focus on domestic issues, such as tax reform, unemployment and the national debt. CAC 40 -0.6% and the euro is on watch.

 

Featured Coins of the Day - The Outback Collection Consignment

The Outback Collection consignor is offering important numismatic items via GFRC and I sense that customers are just not aware of the significance of these coins. So let's feature this consignor's pieces to wrap up the Blog. Please note the 1652 Noe-30 Pine Tree Shilling, the 1831 CAC Capped Bust Quarter that is gem original along with 1856-S/s PCGS VF30 and 1875-CC PCGS EF45 Seated quarters. Then there is an amazing 1817 Punctuated Date Capped Bust half graded PCGS EF45 CAC along with an 1807 NGC AU53 CAC Turban head $5 half eagle! Please consider a purchase (or offer) as these pieces will not be on the GFRC for the long term.

  

  

  

 

 

April 20, 2017

Welcome to the Daily Blog on a Thursday morning.

Maine is experiencing typical spring weather conditions. Temperature is currently 38F with showers while the landscape remains lifeless. The GFRC office is warm with the wood stove operating since yesterday noon time. The weather forecast indicates ongoing clouds and rains through Saturday with highs in the mid 40s. GFRC photography is on hold until Sunday if the weather forecast is accurate.

Given the amount of new offerings that require loading onto the price lists, I've decided to not attend the Bay State show in Malborough, Massachusetts that starts later today with dealer setup. Maintaining shipments and consignor service is paramount after the Asia trip. Backlog is substantial and best to work through these business responsibilities before flying to Chicago next Tuesday.

An email arrived yesterday from the ANA's Caleb Noel requesting an interview for the Numismatist. This is quite the honor and completing a questionaire was added to the To Do List.

Finally, new GRFC offerings are reaching the price list effective last evening. Today will bring a large group of Capped Bust halves and the Malvern Collection consignment Client Gallery.

GFRC Consignment Status

It is best that a consignment status report be shared this morning to help organize my time and prepare GFRC customers for the upcoming new coins to be posted. Once reading through this list of consigned coins, it become immediately obvious why I will not be attending the Bay State show. The office workload is substantial through next Tuesday.

Seal Beach Collection

The Seal Beach Liberty Seated half dollar lot arrived yesterday and will be loaded into the COIN system along with pricing recommendations. As usual, the quality is so typical of Seal Beach duplicates with the 1846-O Medium Date PCGS AU55 CAC being a gem. The 1841-O PCGS AU55 example offers old time album rim toning and is pleasingly attractive.

Malvern Collection

This consignment consists of odd denomination pieces including 2 cent copper, 3 cent nickels and some gorgeous double dimes. Images are ready to be posted as a Client Gallery with COIN loading and pricing recommendations being necessary.

Burchs Creek Collection

The balance of this Morgan dollar consignment is photographed with COIN system loading and pricing to be completed.

The Half Way There Collection

The Half Way There Collection is being mentioned for the first time as arrived at the end of the Baltimore show. This is a 31 piece Liberty Seated half dollar variety and better date treasure trove that is all raw with most coins not being TPG certifiable and best for a Dansco album collection. Important die varieties include 1840-O WB-101 (WB-12) 1838 Tall Hub, 1842-O WB-101 (WB-1) Medium Date, LDS cud over UNITED, 1845-O WB-106 (WB18) triple date, 1846 WB-104 (WB-7) 6 over horizontal 6, 1874 WB-102 Large arrows over Small arrows

Better dates include 1851 WB-101 (WB-6) cleaned AU58, 1852 WB-101 (WB-2) EF45, 1852-O WB-101 (WB-2) VG-8, 1855-S WB-101 (WB1 and WB3) VG8 and EF details, 1857-S WB-101 (WB-1) AU cleaned, 1874-CC WB-101 (WB-3) VF25

Photography, COIN system loading and pricing discovery are required in the upcoming days

Indiana Collection

This new consignment of Liberty Seated dime varieties arrived on Wednesday and has yet to be unpacked.

Gansu Collection

The first consignment from mainland China customer was hand carried back to the States and requires loading into COIN system, considerable photography and pricing determination. The contents were itemized in the April 16 Blog.

 

Central States Numismatic Society Show - April 26 - 29

Now that the Shanghai trip is completed, attention shifts to preparations for the upcoming Central States Numismatic Society coin show held on April 26 through 29. W. David Perkins and I are looking forward to sharing corner table 910. Following is the bourse map and where to find the best Bust and Liberty Seated coinage on the bourse floor.

Central States - Booth 910 Location

Gerry Fortin Rare Coins and W. David Perkins, Numismatics

Featured Coins of the Day

Mental jetlag has arrived while composing the Daily Blog and creativity is low. Let's wrap up today's edition with some early date Liberty Seated dime offerings that would love to find a new home. GFRC always has the best Liberty Seated dime offerings of any dealer in the numismatic market.

  

  

  

Thank you for visiting with me this morning and wishing everyone a pleasant day!

 

 

April 19, 2017

Greetings from Terminal A at the Newark, NJ airport and GFRC Maine office!

Yes, GFRC has returned to the United States after a busy Shanghai trip. United Airlines UA87 flight into Newark appeared symptomatic of the challenges facing United these days. Our Boeing 777 was suffering electrical problems throughout the flight. The onboard entertainment system was not functional regardless of the number of times the crew attempted a system reboot. Then magically about 2 hours before landing, on a 14 hour flight, the system started operating. In Economy Plus cabin, about six overhead reading light panels could not be switched off. The crew devised a tent made from the flight safety card to shield passengers from the constant glare. Luckily, I was not one of the six impacted. Food portions are now devised to avoid starvation and no wine was available during the mid flight snack. One can see the incremental cost cutting mentality at United Airlines for economy class passengers. This 777 was configured primarily for First Class and Business class capacity with Economy seating being limited. I much prefer flying Southwest these days but United has golden handcuffs on me concerning China flights.

Mark Mattox - Alexandria Collection Consignor - Rest In Peace

Upon arriving to Newark, I spoke with Rhonda Mattox concerning Mark's condition and was informed that he passed away as a result of his masssive heart attack. The news was shocking given that our community has recently lost Miles Brooks just a few months back. Though Mark and I never met face to face, we had developed a strong friendship. Mark is well known for his Pleez B. Seated Collection of Liberty Seated half dollars.

During the phone call, Rhonda indicated that Mark so loved his hobby and was a passionate collector of Morgan dollars and then moved on to Liberty Seated halves. Mark left his wife specific instructions, in his bible, for contacting me in the event of his passing. Now Rhonda was taking the first step. Another phone call is planned for today to help Rhonda perform an inventory of Mark's entire numismatic holdings. I am aware that proceeds from the Pleez B. Seated Collection sale were moving directly into Mark's latest goal; a Basic gold type set on the GFRC Open Set Registry. The Alexandria Collection current ranked #1 with 90% completion and a weighted graded of 59.7% and 79% CAC attainment.

GFRC will be handling the disbursement of all of Mark's numismatic properties and I sincerely hope our community will come to Rhonda's aid by purchasing Mark's coins. The Pleez B. Seated halves will be repriced at Saint Patrick's Day sale levels to encourage buyers to step forward.

Mark Mattox - Pleez B. Seated Collection - GFRC Inventory Highlights

    

    

    

    

 

GFRC New Capped Bust and Seated Half Dollar Deal

After a successful Baltimore show and now, the Shanghai show, GFRC is restocking inventory. When in Shanghai, I was communicating with an important dealer friend towards a solid Capped Bust and Liberty Seated half dollar deal. Upon landing in Newark and reading emails, the deal was done and can be announced.

Capped Bust 50c: 1809 XXX Edge O-110 PCGS 53 condition census piece for the variety with four better per AMPBR. The last O-110 to sell dates back to 2010!

Liberty Seated 50c: 1839 WD PCGS 55, 1840-O PCGS 61, 1842 Small Date, Rev42 PCGS 58, 1846 Tall Date PCGS 58, 1875 PCGS PCGS 63

This purchase will nicely compliment the new Seal Beach Collection consignment of Liberty Seated halves that will arrive today.

Global Financial News

Gold opens at $1285/oz this morning while crude is being quoted at $53.00. Seeking Alpha's Wall Street Breakfast lead headlines focus on the strength of the U.S. dollar. Goldman Sachs is reducing long positions on the USD which is bullish for gold prices.

President Trump is "absolutely not" trying to talk down the strength of the U.S. dollar, Treasury Secretary Steven Mnuchin was quoted as saying in today's edition of the FT. He also talked about currency manipulation. "To the extent you manipulate a currency that advantages the U.S., it's not currency manipulation. This is a defined term."

Despite the announcement, Goldman Sachs has dumped the dollar. The investment bank closed one of its top trade recommendations for 2017 - long-dollar positioning against the euro, sterling, and yuan - citing a slowdown in the reflationary momentum in the U.S. economy. "The greenback still has a number of things going for it... however, a number of fundamentals have changed on the margin."

While in Shanghai, it become obvious that the new automotive status symbol was the Telsa Model S. During brief taxi rides around town, three Telsa Model S were seen. This is quite substantial given the short time sampling Shanghai traffic. Now GM is migrating the Chevy Volt to China but under the Buick brand name. GM is strategic with its marketing as Buick enjoys a substantial position in the Shanghai market.

The Chevrolet Volt is finally headed to China, but it won't be wearing the iconic bow tie badge that identifies Chevy (NYSE:GM) products - it will instead be sold as a Buick. The Velite 5 travels about 70 miles on an electric charge before a gas engine takes over to extend the range by several hundred miles. Prices will start at 265,800 yuan ($38,600).

Closing the Blog

Today's challenge is restarting the GFRC office and overcoming jetlag. A pile of checks is sitting on my desk that must be entered into the COIN system along with order packing and shipment. New purchases from the Baltimore show must be loaded onto the price lists. The Mavern Collection consignment images are ready and this new consignment must be loaded into COIN and then the price lists. The arrival of more consignments are anticipated today and tomorrow. And finally, another phone call with Rhonda Mattox is of key importance.

Thank you for being supportive GFRC customers and please do consider a purchase! Effective tomorrow, the Blog will be back at its regular publishing time of between 8:00am to 8:30am.

 

 

April 17-18, 2017

Greetings from the Pudong airport United Gold Star lounge and welcome to the Daily Blog on a Tuesday morning in the United States.

Today's blog covers the events of the past 48 hours. As much as I enjoyed being in Shanghai, it is time to return to Maine office with fast and reliable internet service and routine posting of Client Galleries. The need to haul around the Dell laptop to restaurants or cafes for adequate internet bandwidth has been troublesome and limits the amount of content, especially individual coin images, that can be uploaded. Monday was a down day to relax including a long health walk from the Equatorial Hotel to XinTianDi and then exchanging foreign currency into US Dollars to wrap up the day.

Monday started off on a sad note when checking text messages from the U.S. A message arrived from the wife of the Alexandria Collection consignor (Pleez B. Seated Collection of Liberty Seated halves) that Mark had suffered a substantial heart attack. I will be speaking with her once returning to the U.S. on Tuesday afternoon to check in and determine Mark's status. Let's pray that he will have a full recovery.

Tuesday is a long travel day with Newark as United States entry point. If all goes to plan, I will be home by midnight.

GFRC Open Set Registry Community Project News

I'm pleased to announce the posting of yet another 100% complete Liberty Seated dime collection in the Open Registry. The JF Collection (GFRC Florida Collection consignor) enters the Registry with a weighted grade of 63.9 and 52% CAC approval. The set highlight is the Eliasberg 1845-O dime, former Eugene Gardner, graded PCGS MS69. The JF Collection is rank second behind the Tom Bender Collection and just ahead of my Seated Dime set.

The Liberty Seated dime category has an amazing five complete sets with two close behind at 98% and 94% completion.

Whitman Baltimore Show New Purchases Gallery

After the Shanghai trip, I'm really looking forward to getting back to the GFRC office. Here is a preview of a large Bust and Liberty Seated deal purchased at the Baltimore show with the images finalized. These will be posting to price list once back to Maine office.

    

    

    

    

    

 

Featured Article: This Week in Geopolitics, The Geopolitics of Nuclear Weapons

As I awoke on Tuesday morning in Shanghai, the email inbox brought another excellent article from George Friedman entitled The Geopolitics of Nuclear Weapons. Given all the media attention on North Korea during the weekend concerning a potential nuclear bomb test, this assessement of the world community and nuclear weapons is timely and an excellent piece to share with Blog community. At a minimum, the article raises awareness at to the extent of current nuclear weapon stockpiles throughout the globe and also provides a historical context on the number of scrapped weapons and weapons programs.

George Friedman opens the article with the following perspective.

Nuclear bombs have a strange quality: They are a type of weapon that countries spend enormous sums of money to develop but don’t actually intend to use. While chemical weapons have been frequently used in war, no country has detonated a nuclear bomb since the end of World War II.

Nuclear weapons are in their own category. Their efficacy comes from their ability to deter aggression, as the potential for massive devastation forces countries to rethink moves that threaten an adversary’s essential national security interests. States, therefore, are unlikely to use nuclear weapons against one another. However, the risk of a nuclear attack would increase if they were to fall into the hands of non-state actors that follow a different set of calculations that don’t necessarily take into account the defense of a predefined territory.

The following three maps are effective visuals for explaining current global nuclear weapons status coupled with former nuclear countries and those with emerging capabilities. Hopefully, these maps will wet your appetite to read the entire article. In typical George Friedman style, it is a quick read and to the point.

Current Nuclear Powers

Former Nuclear States

Nuclear Latency

Thank you for checking in at the Daily Blog today!

 

 

April 16, 2017

Greeting once again from Shanghai and welcome to the Daily Blog on Easter morning in America.

The last 36 hours have been exciting as GFRC conducted its first self sponsored coin show event in Shanghai. An idea to continue advancing the passion for United States coinage in mainland China has been successfully executed. Harry Zhang and I are quite proud of the accomplishment as 18 people were in attendance by the end of the four hour session. Actually the meeting room was at capacity as response was above our cautious expectations.

Following is the group photo taken at the start of the event. Several individuals traveled long distances via air (Gansu province) or train (Beijing) while the balance of attendees were from the Shanghai and Jiangsu province area.

GFRC Shanghai Coin Show Event Attendees

Sunday morning brought Harry and Gerry to the Yunzhou Antique Mall on Damuqiao Lu, Xuhui Distrct for a round of wholesale selling. The Yunzhou Antique Mall is home to the majority of Shanghai coin and paper money dealers and the location of the annual November coin show that GFRC attends. One of my favorite dealers is XiaoWei and following is a photo op with my dear friend. XiaoWei is recognized as the leading dealer in world coins with emphasis on United States pieces along with international gold. XiaoWei is always the first to visit the GFRC booth at every November Yunzhou show; today was my turn to return the favor.

Gerry and XiaoWei - Yunzhou Antique Mall

GFRC Shanghai Show Event Featured in E-Sylum

Wayne Homren, E-Sylum editor, and I have been in email contact concerning the Shanghai show event status for a spot in today's E-Sylum edition entitled U.S. COIN DEALERS ENTERING CHINA MARKET. The E-Sylum is the electronic publication of the Numismatic Biblomania Society with 2,975 subscribers. If you are not a subscriber, then please contact Wayne at whomren@gmail.com. The April 16 issue is published and can be accessed on the web by clicking this link.

GFRC Consignment News

It give me great pleasure to announce the first GFRC consignment from mainland China. The consignment will be known as the Gansu Collection and contains a broad range of quality United States coins purchased from GFRC at the Yunzhou Antique Mall shows and also earlier purchases from me when working for CSMC Technologies and hanging out in the Yunzhou mall during weekends. The Gansu Collection consignor and I have become good friends. This individual has decided to consolidate his collecting goals towards building an AU/MS Morgan dollar date and mintmark set along with acquiring St. Gauden gold type selections in mint state.

Following are the new offerings from the Gansu Collection.

Capped Bust 5c: 1835 EF40 crusty gun metal blue gray

Seated 5c: 1845 EF45 RPD choice original; 1861 AU50 original old album toning

Seated 10c: 1859 AU55 choice original old album toning; 1878 Type 2 AU58 frosty gray luster

Mercury 10c: 1939-D MS64FB Gold CAC Rattler holder; 1942-D NGC MS65FB; 1943 NGC MS65 FB

Barber 25c: 1902 AU50; 1906 AU53; 1907 AU58; 1911 EF45; 1914-D AU50 light clean

Standing Liberty 25c: 1920 AU50; 1927 AU55; 1929 AU50; 1929-S AU55; 1930 AU53

Walking Liberty 50c: 1939-D PCGS MS66; 1940 PCGS MS66; 1944-D PCGS MS66; 1945-S PCGS MS65; 1946 PCGS MS65; 1946-S PCGS MS64 CAC; 1947-D PCGS MS64

Morgan $1: 1878-CC PCGS EF45 choice original gray; 1879-CC VG10 original gray; 1880-CC VG8 choice gray; 1881-CC VF30 choice original gray; 1884-CC PCGS MS63 frosty original; 1887 PCGS MS63 OGH obverse toner; 1890-CC F15 choice original gray; 1903-S VF20 original gray

Featured Coins of the Day

Domestic sales have dropped off a bit probably due to Spring being in the air with many of us having home and landscaping clean up chores to do. Please don't hesitate to order coins from GFRC regardless of my travel schedule. I'm constantly checking emails and responding quickly. Phone calls are not the best option due to international charges.

Let's focus on a consignor collection this morning.

  

  

  

Thanks for checking into the Daily Blog on a Sunday morning. Finding sufficient internet bandwidth to upload this edition took considerable effort. Have a great Easter Sunday.

 

 

April 15, 2017

Greetings once again from Shanghai and welcome to the Blog.

My apology for the Blog being slow to post these past few days. Luckily Harry Zhang's office has robust internet bandwidth and able to upload the Blog while in his office. Matt has been fully consumed, while in Shanghai, with coaching the Beijing International School indoor track team and difficult for father and son to meet for dinner or at least say we met in Shanghai.

Friday was a busy day with preparations at the Four Points Sheraton hotel meeting room and final touches on presentations. The GFRC show event agenda is as follows;

GFRC Shanghai Coin Show Event Agenda

8:00 - 9:30am - Coin Show and Purchase Reservations

9:30am - Attendees Group Photo

9:35am - First Presentation - GFRC Introduction and History of United States 20th Century Coin Designs.

10:15am - Break

10:30am - Second Presentation - Evaluating United States Coins for Quality and Value

The second presentation is a simplified version of that employed at the 2016 ANA Summer Seminar and tuned for 20th Century United States coins.

Wayne Homren (E-Sylum Editor) has offered to publish images and a show report in the E-Sylum given the ground breaking efforts by GFRC to expand the passion for United States coins to mainland China.

eBay Counterfeit Alert

An astute Blog reader sent along the following observation from eBay concerning an 1866 Liberty Seated quarter listing. The listing link is available by clicking here and below is obverse image of the "coin" being offered. A close look at the date digits reveals yet another modern counterfeit that is impacting the U.S. market. The shape of the "1" digit is wrong and typical of the date punch used for Chinese counterfeits. We are fortunate that the counterfeiters remain sloppy with such a fundamental attribution point. Of course, the seller does not offer returns and has low eBay feedback level with the last feedbacks dating over a year ago.

eBay Counterfeit 1866 Seated Quarter for $1500!

Let's end the Daily Blog here as there will be much to report on tomorrow. Thank you for stopping by and monitoring the first GFRC sponsored coin show and educational session in Shanghai.

 

 

April 14, 2017

Greetings from Shanghai, China and welcome to the Daily Blog.

GFRC is alive and well in Shanghia after a pleasant United Airlines flight. This is the first time that I've flown a United Airlines flight bound for Asia by going east rather than west. The flight headed over the U.S. east coast, then over the North Pole and down across Russia into China. Travel time was only 14 hours and a bit shorter than the Chicago to Shanghai route traveling west.

There were several advantage for employing the Newark to Shanghai route too. Airfare was lower and the Boeing 777 was probably at 50% capacity. As a result, I enjoyed three seats in Economy Plus to myself and was able to lay down and sleep for a good part of the trip. The balance of the time was spent processing GFRC images and decent progress was made.

As usual, the Equatorial Hotel internet bandwidth does not allow FTP transfers so forwarding this Blog edition to Matt and hoping he can upload while at the Shanghai International School.

Friday brings a trip to Shanghai's Zhabei district and planning of the GRC Coin Show and Educational Seminar to be held on Saturday.

Spot Gold Prices

As of 9:20am Thursday morning, the precious metal has increased to $1288/oz and is positioned to challenge the $1300 threshold. $20 Liberty and St. Gauden piece in GFRC inventory should begin to look more attractive, on a bullion basis, once the yellow metal pieces move through $1300. Below is the 1 year Kitco technical chart illustrating gold's breakout about the 200 moving average. The next question is the ability of the 14 day moving average to cross the 200 day average. If so, then a strong bullish signal is at hand leading to more potential gains.

Global Financial News

China financial news dominates the Wall Street Breakfast headlines on a Thursday morning. China's exports are improving and President's Trump surprise announcement that China is not a currency manipulator is impacting the Yuan. The exchange rate current stands at 6.88 RMB per 1 USD.

China's 2017 export outlook brightened after the government reported better than expected trade growth for March and as U.S. President Trump suddenly declared China is not a currency manipulator. China's exports rose at the fastest pace in more than two years in March, up 16.4% Y/Y, while import growth remained strong at 20.2%; the country's crude oil imports hit a record high of nearly 9.2M bbl/day. Analysts said the stronger trade data reinforces the growing view that economic activity in China has remained resilient and that global manufacturing is improving.

The yuan climbed to its biggest one-day advance vs. the dollar in nearly three months after President Trump abandoned his earlier pledge to name China a currency manipulator and said the dollar was too strong. China equities are higher, also enjoying a boost from news of stronger than expected growth in exports. But Japan’s Nikkei average lost as much as 1.3% to its lowest level since December, as the yen hit five-month highs against the dollar. European bourses also are lower in the early going as the euro strengthens vs. the dollar.

Wrapping Up the Daily Blog

After enjoying a nice Japanese dinner, jetlag is setting in and time for bed. Tomorrow brings a meeting with Harry Zhang at his Zhabei District office followed by a visit to the Four Points by Sheraton hotel and checking the amenties for the GFRC coin show meeting room on Saturday.

Thank you for stopping by and please keep monitoring the Blog for more GFRC news and current China event.

 

 

April 12, 2017

Greetings from the Portland, Maine airport on a Wednesday morning.

Asia bound flights from Maine typically require a very early start on UA regional jet to either Newark or Chicago. Today's journey is through Newark as the airfare was quite attractive. I'll suffer through an additional 40 minutes of air time to save $300.....after 14 hours on a flight it really does not matter.

Today's Blog is just bits and pieces with nothing prepared. I will still working on the Shanghai educational presentation at 7:30 last evening so writing the Blog was relegated to Portland airport time.

2018 Redbook Update

I received my contributor's copy of the 2018 Redbook and quickly scanned Liberty Seated dime prices to determine if my inputs were accepted. Good news in that I saw a number of upward pricing adjustments including the 1868-S. The 1868-S date was the worst situation of being undervalued and 2018 prices are more indicative of the current market.

Seated quarter pricing adjustment are contemplated for the 2019 Redbook.

GFRC Consignment News

An email arrived from the Indiana Collection consignor this morning announcing at least ten cool Liberty Seated dime varieties that should garner attention. These will be itemized once I return to Maine.

Daily Blog Reader Feedback.

A knowledgeable student of the Liberty Seated quarter series sent along the following from PCGS CoinFacts.

Hi Gerry

Thought you would get a “kick” out of PCGS CoinFact’s 1872-S quarter information   http://www.pcgscoinfacts.com/Coin/Detail/5483

Ron Guth: The 1872-S Quarter Dollar is a relatively common coin, though it is difficult to locate examples in Mint State.  The number of certified examples in all grades is smaller than that of scarcer dates (such as the 1872-CC for example) but this may be because lower grade coins are simply not submitted for grading.  Thus, users must be careful to consider certified populations in context and not by themselves, as there may be other factors that affect the number of coins that are submitted and graded.  Having said that, it is probably safe to assume that the number of certified Mint State 1872-S Quarters is reflective of the overall population because certification does add value in the higher grades.
PCGS has certified three Mint State 1872-S Quarter Dollars, the finest of which is a single PCGS MS66 (finest by a full two points).

I plan to send Ron Guth an email to reconsider the statement that 1872-S quarters are relatively common.....

Gold Spot Price Trend

For those who follow gold prices, Tuesday brought the breakout that I had been hoping for. At end of day, gold was priced at $1275 and held during Asia trading hours. North Korea tension are probably the explanation as Asia is a huge market for private gold ownership as compared to the United States.

Next Blog Edition

Given the problems with quality internet bandwidth in Shanghai, I'm unsure when the next Blog will be published. Matt is also in Shanghai but several hours away at the Shanghai International School. He is the assistant indoor tracking coach for the Beijing team that is visiting Shanghai. My assumption is that he will have adequate internet service and will be able to upload my Blogs during evening hours.

Harry and I plan to take lots of pictures of the GFRC Shanghai coin event and will post in the Blog. Sunday brings a trip to the Yunzhou Antique Mall and visiting with local dealers and relationship building.

Wrapping Up

The Newark flight will be boarding shortly and time to close down the laptop. Once back from Shanghai, there will be a substantial number of consignor Client Galleries and Baltimore show new purchases posted either while in Shanghai or by early next week. There will be ample time to format images on long trans Pacific flights.

Please do not be bashful about purchasing coins will I'm traveling. GFRC remains open for business and emails will be responded to on a daily basis.

Wishing loyal Blog readers a great day and balance of the week!

 

 

April 11, 2017

Greetings on a lovely Maine spring morning and welcome to the Daily Blog.

Though the Maine landscape remains barren, residual snow piles are quickly receeding and may be gone after today's 70 degree high temperature and bright sunshine.

Every year, I look forward to the spring ritual of the first drive in the top down 1993 Miata. This took place yesterday after sweeping road sand at the top of the driveway and removing snow and ice blocking the second garage door. Yes, it took a large pick to break the ice and free the garage door; definitely not Florida life. The drive was short but a preview of the fun to be had through this coming November.

The balance of the day focused on Shanghai trip that starts early Wednesday morning. GFRC inventory is mostly prepared and customers will note a fair number of 20th Century coins reaching the price list during Monday evening hours; many from the Denver Collection.

Central States Numismatic Society Show - April 26 - 29

Though my attention is on the Shanghai event this coming weekend, preparation are also underway for the Central States Numismatic Society coin show held on April 26 through 29. Once again, W. David Perkins and I are sharing corner table 910 which is the same location as the 2016 event. Following is the bourse map and where to find the best Bust and Liberty Seated coinage on the bourse floor.

Central States - Booth 910 Location

Gerry Fortin Rare Coins and W. David Perkins, Numismatics

GFRC Consignment News

While relaxing in the basement soundroom last evening, an email arrived from our good friend, Seal Beach. The email announced another important Liberty Seated half dollar consignment that is noteworthy. Given the top quality of Seal Beach duplicates, most are sold out when the preview is listed in the Daily Blog. So please pay careful attention and act quickly with FRoR. Here comes the latest Seal Beach offerings that are ideal for those building advanced collections in the Open Set Registry.

Seal Beach Collection Consignment

Seated 50c: 1841-O PCGS AU55 with pretty rainbow toning; 1846-O Medium Date PCGS AU55 CAC original sourced from GFRC; 1861 PCGS AU55 choice original toning; 1872 PCGS AU50 CAC; 1877-S PCGS AU55 choice original

Recommended Article: The Long-Term Effects of Negative Real Interest Rates by Jared Dillian

Each day brings a constant stream of emails and newsletters. Many newsletter are what I call fluff, the same boring content that is repackaged against business publication goals. But occasionally, an quality newsletter arrives with a thought provoking topic and important insights. That is the case with a recent Jared Dillian article entitled, The Long-Term Effects of Negative Real Interest Rates.

Mr. Dillian opens the short article and points out that Jeff Bezos (Amazon) is now the second wealthiest man in the world ($76 Billion) and Elon Musk (Tesla) has surpassed Ford's market cap. Both Amazon and Tesla have been the target of traders on the short side for years. However, the short traders have been continually burned as both companies continue to increase in value. Dillian suggests that the core reason is negative real interest rates as follows;

If you have ever taken a finance class, anywhere, anytime, probably the first thing you learned is the time value of money. Future cash flows are worth less when they are discounted at a higher interest rate. Ergo, when interest rates are low, businesses with cash flows very far out into the future can survive.

Amazon, of course, has been around for a while, since the mid-‘90s. But it really took off when the Fed lowered interest rates to zero and began quantitative easing in 2008 (almost to the day).

I can tell you one thing. If interest rates were at 6%, Amazon and Tesla would not be where they are today. The cost of capital would be higher, and there would be more compelling opportunities elsewhere, with lower risk. Tesla would still be a $30 stock. And it would be expensive.

So If You Think About It

A lot of people have observed that long periods of time with negative real interest rates cause, well, bubbles. It is happening in Canada as we speak, with housing. Everyone knows that negative real interest rates cause economic distortions over time. But Amazon and Tesla are part of those distortions, too. And think about how harmful those distortions are—think of the capital that has been diverted away from traditional retailers to Amazon.

Spot Gold: Where are we headed?

Seeking Alpha's morning headlines are rather dull so let's briefly focus on the price of gold quoted at $1259 as the Blog is being written. Following is the two year technical chart. Note how the precious metal's price has intersected the 200 day moving average. East Asia tensions, specifically North Korea and a potential for another nuclear test or missile launch, may be the trigger that pushes gold into breakout mode above the $1260 threshold. I will be in China during the timeframe focused on coins and not world events......

Featured Coins of the Day

Let's wrap up the Blog with a display of quality No Motto Liberty Seated half dollars. Bill Bugert's Gratis Use release of his Federal Registers for Carson City, San Francisco and New Orleans die varieties (PDF files) has seen a substantial number of downloads from the Liberty Seated Collectors Club website. My gut feel is that more collectors will decide to collect this series and demand will continue to increase.

  

  

  

So ends the Daily Blog on a Tuesday. I will probably write a Wednesday edition later this evening. While traveling in Shanghai, quality internet access is always questionable and there will be uncertainty about when the next editions will be posted. So please check back and hopefully, there will be content and images of the GFRC Shanghai coin show and educational event.

 

 

April 10, 2017

Welcome to the Daily Blog on yet another Monday morning. Thank you for checking in.

Sunday brought a long day with preparations for multiple coin shows in the next 30 days. The GFRC business is transforming into a fast paced operation given the substantial consignor and customer support. This week brings the GFRC self sponsored Shanghai coin show event with outstanding support from agent Harry Zhang. Educational presentations are nearly completed with Harry reviewing suitability for the Chinese collector audience. It was lots of fun to be researching 20th century silver coinage designs and the important (negative) role that Mint Engraver, Charles E. Barber, played during that timeframe. Barber was a self centered and manipulative individual. Thanks goodness that George T. Morgan, Assistant Mint Engraver, was instrumental in transforming the Hermon MacNeil and Adolph Weinman Standing Liberty, Mercury and Walking Liberty designs into production.

Charles E. Barber                            George T. Morgan                     

   

Central States and New Hampshire Coin Expo Shows

The Central States show arrives the following week after returning from China. Your dynamic duo of Fortin and W. David Perkins will be sharing a corner table in Shaumburg, IL and we look forward to meeting with old friends in the central U.S. Early May brings the NH Coin Expo in Manchester and a corner table with Bill Kelly. This event is within driving distances and being in Manchester, NH with local New England dealers will be nice change of pace.

GFRC Consignments and New Purchases

There was insufficient time on Sunday to process more images given other priorities and a substantial amount of shipping going out the door this morning along with Shanghai presentation development. With a 15 hour flight from Newark to Shanghai on Wednesday, I will use that time to prepare the balance of the images. Once back from Shanghai, be ready for a large number of new offerings prior to the Central States show. Malvern, Denver and Burch Creek Collection consignments will be the priority.

Watch Hill Collection Consignment

New offerings from the Watch Hill Collection consignment reached the price list on Sunday and already the 1880-CC $5 NGC EF40 CAC example is on hold. Please check the Morgan toners as consignor is building a complete set of toner Morgans by date and mintmark. Consigned pieces are duplicates as active upgrading is taking place. Ditto for the new gold pieces.

Global Financial News

Spot gold starts the week at $1255/oz while crude oil is attempting yet another rally. Seeking Alpha's Wall Street Breakfast headlines contain several noteworthy items that can't be found on typical online media. We start with crude oil headline....

Crude oil prices are moving higher to start the week off. A strong level of demand and continued global uncertainty after the U.S. missile strike in Syria have traders in a buying mood. WTI crude oil futures +0.75% to $52.63/bbl at last check. Brent crude +0.85% to $55.71/bbl. U.S. gasoline prices sit at their highest level in eight months. The most recent data from Lundberg Survey showed an average of $2.4327 per gallon, while AAA reported an average price at the pump of $2.389 per gallon.

Of considerable importance is the news that U.S. Federal Reserve is planning to shed its $4.5 Trillion in bonds accumulated during the Great Recession and QE events. Who will buy this massive amount of debt?

Fedspeak alert: Federal Reserve Chair Janet Yellen gives a talk this afternoon at the University of Michigan with some intriguing issues hanging in the wind. Will Yellen give a road map to how the Fed plans to shed the $4.5T in bonds it holds on its balance sheet? And what will she say on the leak of confidential information to Medley Global by Richmond Fed President Jeffrey Lacker? On a side note, Yellen reportedly met with Medley Global Advisors back in 2011 and 2012.

Tesla planning to build a wholly-owned factory in China? This does not seem possible as any US firm venturing into China must be via joint venture and of course, the local company has rights to the technology. I would advise Telsa to shelve this idea and instead transform the U.S. and European markets.

An unconfirmed report out of China indicates that Tesla (NASDAQ:TSLA) plans to build a wholly-owned factory in the Guangdong region, with an announcement potentially coming sometime this year. It's unclear if the Chinese government would approve of a plant that wasn't owned through a joint venture with a local company. The story on the factory was published by the Southern Metropolis Daily, a paper that often clashes with Beijing authorities.

Featured Coins of the Day

Each Blog brings attention to a broad range of GFRC offerings. Recently, with attention on 20th century coinage, GFRC is selling more Buffalo nickels, Mercury dimes and Walking Liberty halves along with core Bust and Liberty Seated designs. Here are some great Buffalo nickels to consider in light of this week's trip to Shanghai. Get them while you can.....

  

  

  

 

 

April 9, 2017

Greetings on a crisp Maine morning and welcome to the Sunday Daily Blog edition.

I'm once again sitting in the GFRC office and looking out the window at clear blue skies. Snow remains across the landscape with substantial mounds in the driveway. When driving north, trees were in full bloom in the Mid Altantic states and the sight was pretty. On the otherhand, Maine must wait another several weeks before nature awakens. This morning's temperature is a cool 35 degrees.

GFRC Shanghai Coin Show and Educational Event

Starting today, preparations are underway for the GFRC coin show event in Shanghai on April 15 and follow on business at the Yunzhou Antique Mall on April 16. One of two education presentations is already complete and a second will be assembled today. United States 20th Century inventory will be segragated and prepared for the long journey. I'm looking forward to being in Shanghai and hanging out with Harry, Rikinn and others in the China coin collecting community.

The numismatic event location is the Four Points by Sheraton Shanghai, Daning hotel in northern Shanghai. This area was previously known as the Zhabei District and is well known to me due to the train station that I would use between Wuxi and Shanghai. During 2015, the Shanghai government merged the Zhabei District with the Jing'an District located at Puxi city center. Wikipedia reports that the combined districts are home to 1,200,000 residents.

Following are images of the Four Points hotel and Shanghai map indicating the event location immediately adjacent to the North-South Elevated Highway.

 

GFRC Consignment News

Saturday also brought a large number of shipments and more image processing. My reliable USPS carrier, Doug the mailman, stop by for a morning pick-up and it was great to reconnect with this fine individual. Afternoon brought attention to the latest Watch Hill Collection consignment and I'm pleased to be featuring his offering today. The Watch Hill collector has a passion for toner Morgans and quality United States gold. This individual is actively upgrading his holdings and chose GFRC to handle duplicates divestment. This offering brings some awesome toner Morgans that deserve special consideration. Unfortunately, GFRC images are unable to capture the full extent of this eye candy; the colors are accurate but missing is the bold luster. Then there are three important United States gold pieces to consider; 1880-CC NGC EF40 CAC and 1882-CC PCGS VF30 $5 half eagles and an 1853 NGC AU58 CAC $20 double eagle from the SS Republic.

Watch Hill Collection Consignment - April 9, 2017

Morgan Eye Candy and Important United States Gold

    

    

Bringing more Baltimore new purchases to the price list is important rather than having these coins sitting quietly in inventory boxes. Following is another small group that represents GFRC commitment to stocking strictly original early type coins. Please note the 1837 PCGS VF35 CAC Reeded Edge half is the GR-11 die variety which carries an R-5 rarity rating.

More New Baltimore Show Purchases

More Original Type Coins

    

    

Dyslexic People

The Daily Blog is wrapping up with an unconventional module. Many of you know that I am dyslexic and have difficulties writing and with spontaneous public speaking. Can you imagine going through life with difficulties comprehending or speaking directions as left and right are constantly swapped? Then there is handwriting where I write the second letter of a word first and must go back to add the first letter. Working with TPG serial numbers and swapping digits is another problematic task that takes special attention. Proof reading each issue of the Daily Blog takes multiple passes to ensure that all grammar and spelling mistakes are corrected. Many times, I am unable to see these mistakes and will discover them months later. During my entire life, I've been amazed by individuals who can command attention at a party and tell jokes. Connecting 3-4 thoughts in a rapid joking telling sequence is impossible as I could not remember the punch line let alone the setup dialogue.

But Dyslexic People have other special gifts that compensate for their verbal and writing struggles. Here is a poster that caught my attention recently and made me feel better than I am not alone with this difficulty. Please click on the image icon to discover the broad range of famous and culture changing individuals who are dyslexic. So ends the Daily Blog for today.

 

 

April 8, 2017

Welcome to the Daily Blog on an early April weekend and thank you for stopping by. There is a major announcement from Bill Bugert on the LSCC website this morning; so please read on! It is a huge development for our hobby.

The Florida to Maine transition, both mentally and physically, is complete. Maine temperature is currently a cool 32F with the day's high forecasted to be 48 degrees. Our Vermont Casting woodstove is in action and I'm wearing shorts and a t-shirt suffering from Florida lifestyle withdrawal. There is sufficent firewood in the garage to last well into May so why not be comfortable while working in the GFRC office?

We open the Blog with a new offering from our resident poet, the Poetic Candy consignor. A dramatic shift in the electronic media has occurred. Attention shifted from Russian conspiracies to the Syria air strike. Unfortunately war is a gruesome topic but still captures enormous attention as can be seen first hand on any major media website.

GAME TIME

War is a game that children play,
Taught by parents, sad to say.
Who are the children? Not those at play,
But the parents I would say.
(poeticalways)

Curiousity brought a visit to the Seth Godin's blog to check on his reaction to the Syria air strike. As usual, Godin possesses a special gift to crystallize his thoughts and drive home a point (no pun intended).

Sharp knives are safer

Cooks know that a sharp knife is less likely to cause injury, because it goes where you point it. It does what you tell it to do, which means you can focus on what you want the outcome to be.

The challenge of a sharp knife is that it puts ever more responsibility on the person who uses it. It will do what you tell it do, so tell it well.

 

Liberty Seated Collector Club and Bill Bugert Announcement

I received a short but powerful email from my dear friend Bill Bugert on Friday. In typical Bill Bugert style, the email was a complete surprise and incredibly noteworthy for our community and the entire numismatic hobby. I can't thank Bill Bugert enough for sharing PDF file version of his Liberty Seated half dollar reference books and so honored to be allowed to announce in the Daily Blog.

The series is entitled A Register of Liberty Seated Half Dollar Varieties and is the ultimate reference for Seated coinage collectors. On the Liberty Seated Collectors Club website, the following Bill Bugert link and content has been added.

Bill Bugert’s Registers Now Online for Gratis Use

From Bill Bugert:

It is with great pleasure that I render the first four volumes of my Register series available for gratis use. Volumes I thru IV include details of the mintmarked die marriages of the Liberty Seated half dollar series. They are as follows:

Bugert, Bill. A Register of Liberty Seated Half Dollar Varieties, Volume I, San Francisco Branch Mint. Gettysburg, PA: Self-published, 2009.
Bugert, Bill. A Register of Liberty Seated Half Dollar Varieties, Volume II, Carson City Branch Mint. Gettysburg, PA: Self-published, 2010.
Bugert, Bill. A Register of Liberty Seated Half Dollar Varieties, Volume III, New Orleans Branch Mint 1840-O to 1853-O NA. Gettysburg, PA: Self-published, 2011.
Bugert, Bill. A Register of Liberty Seated Half Dollar Varieties, Volume IV, New Orleans Branch Mint 1853-O WA to 1861-O. Gettysburg, PA: Self-published, 2013.

Club members and visitors are free to download PDF file versions of the four Bugert books by simply clicking on the above links. Please have patience when anticipating a download as the file sizes range from 57 to 98 Mbytes. The end outcome will be worth the wait. Once the download is complete, please make sure to save the downloaded file in a special location on your computer before closing the PDF file.

I am so thrilled to have Bill's Liberty Seated Half Dollar variety books available on my laptop while traveling and at coin shows. Again, I can't thank Bill Bugert enough for sharing his incredible research with our community on a Gratis Use basis.

 

GFRC New Baltimore Show Purchases

There are substantial quantities of new purchases and consignments from the Whitman Baltimore show to process and publish, here in the Blog, and on the price lists. My goal is to load as least 10 new offerings per day prior to departing for Shanghai on Wednesday. Following is today's installment.

We open new purchases with a superb gem 1859-O PCGS AU58 CAC Liberty Seated quarter that has the eye appeal and originality of an MS63 graded example. Quality at this level is rarely seen.

A Superb Gem 1859-O PCGS AU58 CAC Seated Quarter

 

The hobby is starting to realize that GFRC strives to make a market in strictly original coins. This become apparent at the Baltimore show as more dealers and collectors are approaching me to sell or trade quality coins. Following is just the beginning of Baltimore New Purchases that should reach the price list by early Sunday.

More New Baltimore Show Purchases

An Originalty Showcase

    

    

    

Let's end the Daily Blog at this point given the broad content for a Saturday morning. Time for shower and then a full morning in the shipping department.

Once again, thank you for checking in at the Daily Blog and for all your supportive emails.

 

 

April 7, 2017

Greetings from Raymond, Maine and welcome to the Daily Blog.

First, let's start with an apology for the lack of a blog on April 6. To be honest, Tuesday was a frantic day packing the office and getting the last shipments into the USPS channel. A Wednesday morning Blog was written Tuesday evening and not completed. Then we departed at 7:00am the following morning and hope that Blog readers would understand.

Worst Two Day Drive on Record

Being a Mainer, I've driven much in my life through difficult snow and ice storms. This two day trip from Florida to Maine goes down in personal record book as the worst. Read on....

Wednesday - The roadtrip started off well as Florida seems to be immune from the problematic weather sweeping across the eastern United States. Frankly, we've been spoiled during the winter of 2017 living in central Florida. Once reaching South Carolina, all changed as we drove into an intense weather system that brought nine reported tornadoes to Georgia and South Carolina. My gut feel, from studying the weather maps, would be intersecting this system on I-26 heading into Columbia, SC. Well, I was right. We stopped about 40 miles east of Columbia to walk Buddy and gas up the GFRCmobile with dark clouds and lightning strikes directly around us. It was disconcerting to be pumping gas with lightning strikes so close by but I'm still here writing the Blog.... Returning to I-26 west bound, we drove into incredible downpours; our cellphones were screaming tornado alerts. About halfway between Columbia and Charlotte on I-77, the rains stopped and touch down in Blacksburg, VA was uneventful. But the worst was yet to come......

I knew from the weather maps that Thursday's drive would be unpleasant; but could not imagine the extent of this massive weather system drenching the Northeast.

Thursday - The day started with rainy condition as the car was fueled in Blackburg. The drive from Blackburg into Pennsylvania was wet but ok. Upon reaching Harrisburg, the deluge commenced. The skies opened with massive rains and near blind driving conditions. I-81 is the home of substantial tractor trailer traffic and the spray from these vehicles added a challenging dimension. Then the massive rains never stopped from Harrisburg to Raymond, Maine. I have never experience a road trip with such heavy continuous rain for over 500 miles! Yes, there were some occassional slow downs but none long enough to be memorable. Even crossing the Tappan Zee Bridge occurred in a substantial downpour and I-287 and I-684 to Brewster, NY were near white outs along with I-84 into Hartford. The rains did not stop on I-90, I-290 and I-495 in Massachusetts either. Maine brought no reprieve on I-95 and we finally arrived home with Diane moving the Rav4 out of the garage to enable the insertion of the GFRCmobile and unpacking.

I drove the entire two days. The last several hours, with continuous downpours and night time driving conditions, were mentally challenging as the brain was fatigued. I was wired and could not sleep so the best medicine was a glass of scotch and one hour in the basement soundroom to unwind. Scotch can cure all types of difficulties.....

Counting Our Blessing

The GFRC office and home survived a Maine winter while burning only 18 gallon of fuel oil between early February and April. Amazing....

Upon arriving home, a new challenge arrived with fingers crossed. Over two days of driving, there was ample time to consider how to pressurize the plumbing and heating system to check for cracked pipes. The plan of action was closing down the heating system and first pressurizing toilets and sink faucets, checking for leaks. Then pressure would be added to the oil furnace boiler and check the copper heating pipes. This plan was executed at 10:30pm and I'm so grateful to report that there are no cracked pipes. Yes, several rubber stoppers in the toilets dried out and will be replaced today but the Fortin homestead managed to survive the winter with passive solar heating in the top two level floors and limited oil furnace heat in the basement.

Global Financial News

After pressurizing the home plumbing and heating systems, the laptop was opened to find that President Trump has struck at Assad for Tuesday's horrendous sarin nerve gas attack. Spot gold has responded as in quoted at $1266/oz this morning and above the 200 day moving average that I've been carefully watching.

The Chinese idiom, "Kill the chicken to scare the monkey" came to mind as I first learned about the Syria cruise missile attack. Chinese President, Xi JinPing, is meeting with Donald Trump and the timing of the attack was masterful. Killing the Chickens, to Scare the Monkeys is a 2011 short film directed by Jens Assur. The story is set in the People's Republic of China and consists of nine scenes where national politics and strategy have unforeseen consequences on a young teacher’s life. This idiom refers to making an example out of someone in order to threaten others. The movie implies that the Chinese government policy of executing dissidents is meant to deter others. In this case, North Korea has to be on Xi Jinping's mind during Friday meetings with President Trump.

Here are pertinent headlines from Seeking Alpha.

While much of the movement has now reversed, investors turned to safe haven assets overnight, after the U.S. launched 59 Tomahawk missiles against an airbase in Syria (aimed at stopping the regime from using chemical weapons). "With acts that he [Assad] has taken, it would seem that there would be no role for him to govern the Syria people," Secretary of State Rex Tillerson declared, warning Russia to consider its support "carefully."

Tough talks between Trump and China's Xi Jinping will begin today as the two discuss thorny issues like trade, foreign policy, security and the world economy. "We had a long discussion already," Trump said last night. "So far, I have gotten nothing. But we have developed a friendship. I think, long term, we are going to have a very, very great relationship and I look very much forward to it."

Featured Coins of the Day

Daily Blogs without images can be visually boring. Here are a few pieces of eye candy to dress up today's Blog. Saturday's Blog format and content should be back to normal.

  

  

Thank for visiting the Daily Blog! It is great to be back online. Now the GFRC Maine office needs to be configured with immediate preparations for next Wednesday's trip to Shanghai. Please check back tomorrow for another edition. Have a great day!

 

 

April 5, 2017

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

This edition is written on Tuesday evening given an early start to the day for our northern migration. Packing a business and homestead brought yet another busy day and I'm looking forward to the drive as a change of pace.

Poetic Candy, our resident poet, found inspiration when viewing the 1849/8 or was it 1849/6 Liberty Seated half dime illustrated on Monday. The poem was timely and so enjoyed that I promised to publish on Tuesday... Well Tuesday came and went with distractions and the poem was overlooked. Here it is today!

THE HALF DIME

A half-dime was before my time,
But I’ve picked it from my rhyming vine,
So that you won’t see me whine,
About our mint who makes mistakes,
That some democrats would call a crime.
 
A simple little thing, indeed an error,
But if a Democrat I could easily confuse it,
With espionage, or perhaps with even terror.

Well whether it be a “6” or an “8”,
They’d leave us all in one big pickle.
When what we have is just a nickel.
(poeticalways)

GFRC Consignment News

We open with a new GFRC consignment proceeds milestone. GFRC reached the $1,600,000 threshold on Tuesday with a strong sales day. While packing the office, the orders were still arriving. The tracking report can be viewed on the GFRC Consignment page.

The Whitman Baltimore show brought a gathering of serious Liberty Seated coinage collectors and the GFRC table was the hang out. One of the individual often seen at the GFRC table is the Florida Collection consignor. This time around, he left me with some interesting Seated dimes to spice up the price lists. Below are his new offerings. Yes, that is an 1872-CC dime graded PCGS VF35 in older blue label holder that has aspirations for full EF40. This is a choice example that should be considered. Following the 1872-CC is the key date of the series; the elusive 1874-CC date in choice condition. This example resides in PCGS G6 holder with CAC approval....a completely problem free example for that empty slot in so many incomplete date and mintmark set.

Florida Collection Consignment - April 5, 2017

    

  

 

A Nice Trio of Seated Half Dimes from Baltimore

    

 

 

 

April 4, 2017

Greetings on the last full day of GFRC operations in Venice office and welcome to the Daily Blog.

The last week has been incredibly busy and the forthcoming two day drive to Maine will be a much needed break from numismatics. Thursday weather in the Northeast does not look good but we will deal with driving conditions one day at a time.

I'm pleased to report that all Baltimore new coins, purchases and consignments, have been photographed under intense Florida sun. Florida is currently experience record temperatures for April and I'll take the bright sunshine any day over gloomy Maine weather that is so typical this time of year. Hopefully in 2018, the GFRC office will stay in Venice through the end of April.

GFRC Consignment News

A sophisticated numismatist joined the long list of GFRC consignors at the Baltimore show and will be known as the Springfield Collection moving forward. Eye appealing coins are the hallmark of this collector. The GFRC community should be pleased as this individual slowly releases offerings from a substantial collection. As is so typical of many consignors, the first coins to be sold as those that are no longer core to the central theme of a collection.

Springfield Collection Consignment

The following nine pieces are worthy of special consideration. The 20th century proofs are stunning while the earlier type coins offer beautiful toning. My favorite is the 1908 Barber quarter graded PCGS MS65 with CAC approval following the the 1825 O-112 R3 Capped Bust half residing in PCGS AU53 holder. All of the Springfield coins were holdered prior to 2013 with conservative grading. Even the 1923 Peace dollar, a common date, is well above average in terms of luster and blemish free surfaces. Pricing on all of the Springfield coins is fair given the quality. If there are coins of interest, then please hurry as the 20th century offerings are heading to Shanghai next week.

Springfield Collection Consignment - April 4, 2017

    

    

    

 

Rare Seated Half Dollar Varieties Consignment

At major shows, one can never predict the type of coins that will walk up to the GFRC table and be offered for sale or consignment. Case in point are these two quality Liberty Seated Seated half dollar varieties. These were dropped off by an individual who enjoys collecting rare and fascinating varieties across early United States type coinage. It become apparent, at the Baltimore show, that GFRC's reputation for handling Liberty Seated coinage has significantly increased in the last six months as more four and five figure coins are consigned. I'm humbled by this development and working hard to locate new homes for these rare numismatic properties.

Following are examples of the 1845-O Dramatically Double Date (WB-104, WB-16) and the very rare 1877/6 Overdate (FS-301). Both are graded PCGS EF45. The 1845-O is so choice with old time original surfaces and a marvelous example of the second reverse die pairing with the DDD obverse. Few examples of the 1877/6 are known. This variety has the remnants of a previous 6 visible on the top surface of the final 7 in the date. It is recognized as an overdate in both the Guide Book and the Cherrypickers' reference, and is attributed by both of the leading certification services. The Eugene Gardner specimen, graded PCGS MS64, brought $9000 at recent Heritage Janurary FUN show sale. This EF45 example is conservatively graded and is a more economical entry point for the sophisticated collector who desires rare varieties.

Rare Liberty Seated Half Dollar Varieties

1845-O WB-104 Dramatically Double Date                                                 1877/6 Bold Overdate             

  

 

Global Financial News

Rather than being intriqued by the upcoming Neil Gorsuch confirmation fight in the full Senate, I'm enjoying watching spot gold movements this week. As of this morning, spot gold is trading at $1260 which is the 200 day moving average point. $1260 has been a strong barrier for gold of late. Will we see price action above this threshold in the next 48 hours? I sure hope so as bullish bullion prices are a strong tailwind for numismatic gold and GFRC definitely has a large selection.

While the United States media is too focused at home on political drama, the balance of the world is undergoing changes. One of the emerging market darlings, South Africa, is now struggling due to political issues. Then there is Boeing selling 737s to Iran. China and Russia and establishing central banks in each other's countries but that is a topic for another Daily Blog edition.

Standard & Poor's has downgraded South Africa to junk, citing the recent political upheaval and ousting of finance minister Pravin Gordhan. The move sent the rand lower after weakening more than 8% against the greenback over the last seven days. More pressure may be put on the currency this week if Moody's and Fitch follow suit.

Boeing has signed a $3B deal with Iran's Aseman Airlines for 30 737 MAXs, a new agreement on top of the $16.6B sale it made in the Mideast nation following the Obama administration's landmark nuclear accord. Boeing's deal includes purchase rights for an additional 30 737 MAX aircraft for Tehran-based Aseman, which flies domestic and international routes.

Finally, did you know that Tesla has a larger market cap than Ford? The times are a changing as pointed out by Bob Dylan......

Tesla has surpassed Ford Motor in market value for the first time, moving within striking distance of General Motors (NYSE:GM). "Investors want something that is going to go up in orders of magnitude in six months to six years, and Tesla is that story," said Karl Brauer, a senior editor at Kelley Blue Book. "Nobody thinks Ford or GM is going to do that."

Featured Coins of the Day

GFRC will continue to increase Capped Bust half dollar offerings during 2017. These halves are collected as type coins, as date sets and for the more adventurist collectors, by Overton varieties. The GFRC Open Set Registry offers an approach to display an entire Overton set too!

  

  

  

Thank you for stopping by at the Daily Blog and have a great Tuesday and balance of the week. I will be taking orders throughout the Florida to Maine migration and would love to sell more coins on behalf of consignors.

 

 

April 3, 2017

Another Monday morning arrives much too quickly. The coffee is hot and I'm sitting at the laptop attempting to compose today's edition of the Daily Blog. Thank you for stopping by.

Sunday was yet another long busy day of a different type. Instead of being on a bourse floor, the action was in the GFRC office. Sorting through inventory to pull out over 120 new coins to be photographed. The balance merged with inventory that remained behind in Venice safe. Checks and cash required deposit. Consignment accounts were reconciled with checks and COIN account reports issued. A double row slabbed box of coins was photographed. FRoR coins had images processed and were offered to clients. Bedtime came at midnight.

Trusting People

The numismatic industry operates on a substantial amount of person to person trust; probably more so that many other businesses. Coins are small yet can be very valuable. Taking a piece of paper on the bourse and letting someone walk away with a four digit coin requires quick character judgment. While working in China, I learned to read people based on small behavior signals. Body language and mannerisms can speak volumes about character. If my gut feel is negative, then a sale is not made without cash or serious references.

Seth Godin touches upon this topic in his April 3rd Blog. Seth's daily commentaries are short yet powerful and worthy of contemplation. I'd like to share his thoughts on trusting people.

Can I trust you?

Everyone asks themselves this question.

And everyone looks for different clues and cues to answer it.

It's primordial. We've been doing it for millions of years, because nothing is more important to our survival.

The thing is, almost no one decides the answer to the trustworthy question based on the fine print, your policies, your positions on critical issues of national importance.

We decide long, long before that.

People watch what you do. They watch with the sound off. They listen to others. They seek out clues of the tiniest sort.

Reminder: We were in tribes for a very long time before we even developed language.

Baltimore New Purchase....The Controversial 1849/6, 1849/8 and 1849/8/6 Half Dime Varieties

Recognizing and undertanding the controversial 1849 half dime die varieties with undertype takes careful study. Case in point is an 1849/8 half dime purchased at the Baltimore show as part of a large deal from another dealer. The PCGS OGH label clearly stated 1849/8 for a lovely half dime undergraded at the MS60 level.

Upon examing the piece, after the LSCC Regional meeting and educational presentation by John Frost, it became obvious that this controversial 1849/8 was actually an 1849/6 as illustrated below with bold 6 digit undertype under the 9 digit. A review of PCGS CoinFacts and their macro images brought a revelation. The 1849/8, 1849/8/6 and 1849/6 die varieties all have different date positions when using the Fortin Denticle Ruler method (position of left foot of 1 digit with respect to the below denticle).

So the lovely 1849/8 purchased at Baltimore is actually the 1849/6 as listed in CoinFacts. A lesson was learned.....use one's own judgement and do not count on TPG variety attributions when purchasing a variety with price premium.

1849/8 PCGS MS60 OGH - Actually 1849/6 with Bold Undertype

 

GFRC Mailing Address - Website Update

The GFRC website has been updated with the Maine office mailing address. Once again, as a reminder, all payment should be mailed to; GFRC, 225 Valley Rd., Raymond, Maine.

Global Financial News

Now that the Baltimore show is done, the Blog returns to a more traditional format. There is time and space to share world events from Seeking Alpha's Wall Street Breakfast.

Spot gold is caught up in a very tight trading range directly below the 200 day moving average. The long term moving average is $1260/oz while gold prices are in the $1245-$1255 range. This week should bring some clarity as $1260 is the threshold to be breached for gold's next move to $1300. Will it happen?

In other global news, French presidential candidate appears to be discussing FrExit with a disdain for the amount of control that Germany exerts in the European Union. Spain is attempting a land grab for Gibraltar during EU Brexit discussions while the emerging markets in South America are a political mess.....

French presidential candidate Marine Le Pen told a political rally on Sunday that she will throw off "the shackles of the common currency" and restore France's monetary sovereignty. "We are at the mercy of a currency adapted to Germany and not to our economy. The euro is mostly a knife stuck in our ribs to make us go where others want us to go."

Spain has been accused of using Brexit to make a "land grab" for Gibraltar under official negotiating guidelines drawn up by the EU; Madrid will be given an effective veto on whether Brexit applies to the peninsula. Rows over Gibraltar have held up entire EU deals in the past, including current legislation governing air travel.

More unrest in the emerging markets? There are anti-government protests in Paraguay (where the congress building was set ablaze on Friday), Ecuador and Brazil. Venezuela's Supreme Court also declared the National Assembly illegal and assumed its powers - before suddenly reversing course on Saturday following an international outcry.

Featured Coins of the Day

The Featured Coins module is back! Many great coins were sold at the Whitman Baltimore show but still many wait for a new owner. Following is an assortment of great CAC approved coins that need to locate a loving home.

  

  

  

So ends today's Blog. Another long day awaits me after a health walk. The shipping queue is substantial and hopefully, there will be time to process some images and have some new purchase images posted on the Daily Blog later this evening. Thank you for stopping by and being part of our numismatic community.

 

 

April 2, 2017

Greetings from Venice, Florida and welcome to the Daily Blog.

The Whitman Baltimore show is in the history books with no April Fool's Day suprises. On the otherhand, Maine received a nasty surprise with a foot of wet snow. Here is an Associated Press link showing an image of the Portland waterfront and an individual shoveling snow off of his boat. Any yes, we are driving back to Maine this coming week. The transition will be dramatic this year; sandals to boots.

Whitman Baltimore Show Day 3

The numismatic market is roaring back based on Saturday results at the Whitman show. Usually Saturday's are slow with time to catch up on paper work or walking the bourse for one last chance at new purchases. Dealer arrive anticipating a slow day, looking at their watches and timing booth closure to catch flights. Not yesterday! The bourse traffic was strong with GFRC having the best Saturday sales since setting up at this venue. A healthy "buzz" could be heard with customers arriving in force about 10:30am. Sergio and I did not stop for a break until 1:00pm followed by booth breakdown shortly there after. TSA screening at BWI airport was busy with dealers all arriving at the same time. Obviously, when carrying coins through TSA, they are flagged. My special screening was sandwiched in between Dalton Rare Coin and JJ Teaparty. The Southwest flight to Tampa was a tad delayed but fairly empty. With early bird boarding, I was able to snag the coverted single 1st class seat in the exit row. This is the window exit row set with no seat in front allowing long legs to be stretched and a well deserved nap after another hectic day.

Overall, Spring 2017 Baltimore was a substantial success on all aspects of the GFRC business; sales, consignments and new purchases. Now that I'm back in the GFRC office, the incremental work starts. Inventory must be reorganized followed by photography of all the new coins. With strong sales comes the need to review COIN system consignment reports and issue checks. FRoR are pouring in for Saturday's blog listings. Did I mention that we are driving back to Maine this coming week which requires packing the entire office?

GFRC Mailing Address Returns to Maine

Effective today, all check payments and consignments must be mail to Maine address. The website will be updated accordingly. If by chance, customers mail payment to Venice address, then those letters will be forwarded. Please note the revised mailing address as GFRC, 225 Valley Rd. Raymond, Maine 04071.

LSCC April E-Gobrecht is Published

Bill Bugert published the 147th issue of the E-Gobrecht on Saturday and as usually, the news and monthly articles are so timely. The opening headline page features a group photo of Baltimore regional meeting attendees along with meeting commentary as published in Saturday's Daily Blog. The LSCC Liberty Seated dime survey goes online at the LSCC website for the first time while the upcoming ANA Summer Seminar course is once again highlighted. Craig Eberhart, Dennis Fortier, Benny Haimovitz, Len Augsburger and Greg Johnson treat us to new monthly columns following by another excellent research piece by Jim Laughlin entitled, They Fell at their Posts…” New Orleans Branch Mint, 1839. The 1887-S F-107 PCGS AU58 dime featured in Benny Haimovitz's Cracked, Shattered and Terminal article was sourced from GFRC as a raw AU55 after the Janaury FUN show.

GFRC Open Set Registry Community Project News

Special congratulations go out today to the Newtown Collection. This individual has just completed his Liberty Seated Dimes with Varieties, Business Strikes set by adding an 1871-CC dime graded PCGS VF35 as purchased from GFRC at the Baltimore show. The Newtown set features an AU level average grade of 54.3 and nearly 50% CAC approval rate. This is most impressive! Again, congratulations to the Newtown Collection owner. He should take great pride in this noteworthy accomplishment.

There are now four complete sets of Liberty Seated dimes on the Open Set Registry and I suspect a fifth set is on the way.

The Blog Wraps Up Early Today

With a mountain of work and only a few days left in Florida, let's wrap up the Blog at this point. I'd like to get in a long health walk after sitting at a bourse table for several days. The balance of the day will be sitting in the GFRC office and returning the environment into proper working order so best to exercise early.

Thank you for stopping by this morning and I hope to have some new coin images available for Monday's Blog edition. There are so many great new coins to be featured. Have a great Sunday.

 

April 1, 2017

Welcome to the Daily Blog on April Fool's Day. No jokes or foolish behavior in today's Blog, just straight talk on another busy Baltimore show day. Once again, this edition is being composed on Friday evening so I can sleep in a bit on Saturday morning.

Whitman Baltimore Show Day 2

LSCC Regional Meeting

The day started with a very well attended LSCC meeting. My rough guess is approximately 35 people in attendance for a quick paced club status and educational program. Group photo, introductions, club news update, ANA Summer Seminar course preview and a presentation on Liberty Seated half dimes were the primary topics. We managed to cover all of these topics in 50 minutes allowing attendees to reach the bourse floor for 10:00am opening time. As we filed out of the meeting, Michael Fey (former ANA Board of Governers) approached me and commented on how the LSCC was now in an obvious leadership role for numismatic clubs. While other organizations are struggling to maintain membership levels and traditional paper journals, the LSCC is expanding membership and has a reasonable chance of reaching the 700 club member threshold. The Gobrecht Journal speaks for itself as one of the leading numismatic hobby publications.

The following image speaks volumes about the dedication of the Liberty Seated Collectors Club leadership team. There were no other clubs hosting tables other than the LSCC and BCCS at Baltimore.

GFRC Show Report

GFRC enjoyed another busy day with steady customer and consignor traffic. Along with Len Ausburger, Sergio Torres made his debut as a GFRC table assistant while Greg Johnson also spent considerable time behind the tables. Customer service and support was outstanding with four individuals available to show coins and answer most numismatic questions. Sales were slower than on Thursday but still respectable. United States gold sales were notable along with a little bit of everything else in the cases. More consignments arrived and will be discussed shortly. Overall, the Spring 2017 Baltimore show has been the best to date for GFRC.

Len Augsburger's Guest Blog and Show Report

Today’s activity at the Baltimore show didn’t quite reach yesterday’s frenetic pace, but GFRC still experienced steady buying and selling until later in the afternoon.  A significant weather system on the east coast may have held back a few attendees, but people were still out looking for good coins. The slower pace allowed for more time to spend with table visitors, and Gerry was able to take a few minutes here and there to review specific coins with collectors. It is always valuable to get direct dealer feedback on the coins you have been buying, and, when the show traffic allows, Gerry is more than happy to look over a few things. In one case he walked a collector over to the LSCC club table in order to make a better comparison with a specific coin.  
 
Speaking of the LSCC, we had a great turnout with over 30 attending the 9am club meeting. Gerry and Dennis presented club updates and John Frost delivered the main presentation on seated half dimes. Since my collecting focus is on the quarter series, this covered new territory and I picked up some useful knowledge. The meeting was followed by an extended discussion at the GFRC table regarding the 1849/6 overdate in the half dime series. During the presentation John showed an image of the earliest known die state of this coin, and at the GFRC table there was also an example in inventory with an early die state. Some thought was given to the idea that the 6 is actually a 9 punched update down, but it was eventually thought that the exact shape of the undertype did not quite support this hypotheses. 
 
The day wrapped up with a brief conversation on GFRC strategy. The coin market, like any other business, is constantly changing and one has to keep a finger to the wind. My approach is to look at the facts that one can be sure of, and go from there.  It’s clear that all collecting disciplines will migrate more online, and in the process will become more real-time. The Internet has led to a shortening of everyone’s attention span, and we all want the absolute latest information. At the same time, I think even with online engagement that the social aspects of the hobby are timeless - interacting with likeminded collectors and dealers will always play an important part of the hobby experience. The good news here is that coins show aren’t going away, although there may be tweaks and consolidations.  But the successful dealers of tomorrow must tackle the online part today, and IT capability will play more of a role in the coin business. GFRC has made significant investment in this area and will continue to do so. I’m excited to see where the GFRC business goes and to be  part of the wider coin community as we work our way through the digital revolution.

GFRC New Consignments

Consignments continued to arrive on Friday. Following is a quick review of exciting coins in the GFRC processing queue.

Watch Hill Collection

Toner Morgans: 1878 7TF Rev78 NGC MS64 CAC; 1880 PCGS MS65 CAC; 1890-S NGC MS63 a date not often seen as dual sided toner; 1881-S NGC MS64 CAC a electric blue obverse that is so stunning

$5 Gold: 1880-CC NGC EF40 CAC a important offering; 1882-CC PCGS VF30

$20 Gold: 1853 NGC AU58 CAC a super offering

Other Exciting Consignments - Rare Seated Dates and Varieties

Seated 10c: 1851-O PCGS AU55 CAC with bold frosty luster, so rare at this grade level

Seated 25c: 1852/52 PCGS AU58 silver gray luster and so scarce; 1873 PCGS G4 Closed 3 original gray, scarce in any grade

Seated 50c: 1845-O PCGS EF45 Boldly Repunched Date choice original with eye appeal; 1877/6 PCGS EF45 rare overdate

Wrapping Up Today's Blog

It has been along long day and time to wrap up. Saturday brings a short day on the bourse floor following by Super Shuttle transport to BWI and a return flight to Tampa. Arrival into Venice home will allow sufficient time for a double scotch and an hour or two to relax.

Thank you for following the GFRC show reports. And also a sincere thank you to Len Augsburger for the guest blogs!