Gerry Fortin Rare Coins - Gerry's Daily Blog

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!