Gerry's Daily Blog

March 21, 2018

GFRC Arrives to Baltimore - An Exciting Ride

Greetings and welcome to the Daily Blog as written on Tuesday evening after a 15 hour drive from Venice, Florida to Baltimore.

Yes, the Baltimore trip was indeed memorable! The Baltimore weather forecast called for snow and rain on Tuesday before turning to complete snow during the overnight hours. Dan White and I knew we would drive into nasty weather at the end of the Baltimore journey but ignored this possibility until it took place. Instead, the drive turned out to be a lot of fun. Since the Acura MDX has XM radio, we dialed into FOX News for the trip and enjoyed conservative commentary and news reporting throughout the day. Fox and Friends started our day and we concluded with Tucker Carlson before I turn off the radio due to a white knuckles ride from Washington DC to Baltimore in freezing rain and snow. I should also mention that GFRC was hard a work during the drive. Dan took over as chief pilot and I went to the back seat with laptop computer and Samsung mobile hotspot and priced out a 21 piece United States gold deal that was purchased Friday of last week. Dan and I have been working on this deal for over two months and finally negotiated a purchase price after PCGS graded the lot for the seller. I will breakdown the contents in tomorrow's Blog as I'm tired and need to get some sleep.

Len Augsburger wrote another great guest Blog and I hope everyone enjoys Len's musings.


Guest Blog: Get Thee to a Coin Show

While Gerry is en route to the Whitman show in Baltimore I have volunteered to host the daily blog. There are a few inches of snow threatening the Charm City, but Gerry insists that he will make it through one way or another. I heartily endorse that sentiment, and it doesn’t seem that many years ago when getting to the office on a snow day was considered a point of pride. There were bonus points around the water cooler for whoever could demonstrate the most commitment in making it to work. It wasn’t unusual for people for take a local hotel room the night before in order to ensure a perfect attendance record at the office. Sadly those days are a thing of the past, and now everyone “works remotely.” For the coin show business, there is no “working remotely.” You really have to see coins in person, and you can not build relationships to the same level over the computer. As the auction catalogs like to say “in person inspection is recommended.” Nothing on the Internet (yet) equals the experience of conversing with fellow collectors and dealers in person while coins are passed back and forth. For this reason I encourage everyone to NOT be discouraged by the weather and head to Baltimore one way or another. As a reward, Gerry will let you rub the GFRC magic coin, which will be on exhibit at table 818.

A reader commented on yesterday’s blog on coin security:

What an important topic for any time, security with one's coins. I've seen people (maybe some dealers at the show in Long Beach) walking down the street to a parking garage looking at slabs with someone else! I didn't want to yell something like “You need to put it away,” but I kept my eye on them from about 50 feet away. I always assumed that for large $ coins going to an auction or coin show, one used armored trucks, but that's also a dead giveaway. Bottom line, like you wrote (paraphrased by me) "Loose lips sink ships.”

GFRC Coin of the Day: 1873-S $20 Liberty NGC AU58 CAC

I can’t say enough about this coin. First off, it is wicked original (my numismatic mentor Brian Greer likes the term “stone original”) with just enough crust to ensure it hasn’t been messed with, but not enough to make it dark or unattractive. Gerry describes it as “old time United States gold eye appeal,” and the CAC certification reinforces this opinion. Second, while this coin is not quite in the generic gold bullion class, it’s close in terms of price. I’m a long term gold bug and highly advise everyone to keep 1-2% of their portfolio in gold. The U.S. federal debt won’t fix itself, and the recent tax cut doesn’t help. Eventually the debt has to lead to devalued dollars, and that’s when the long term gold investor cashes in. Finally, all 1873 coins are interesting from a numismatic perspective. Because of the arrows types, weight standard change, and open and close 3 varieties, there is a lot going on. The Redbook lists five different 1873 $20s (six counting the proof) – this coin would be a great start to such a set.




March 20, 2018

Guest Blog by Len Augsburger - Good Coin Security

Guest Blog: Good Coin Security

While Gerry takes a much needed break I have volunteered to fill-in as guest blogger. Today I would like to talk a bit about good coin security. It’s something most people don’t want to hear about – after all, you came here to find out about cool, new coins for sale, not protecting the ones you already have. But, in the interest of educating collectors, it’s good to talk about all aspects of rare coin collecting, and security is certainly among them.

Rule Number 1: Coin theft is most likely to happen while coins are being transported. How many stories have we read about coin dealers being tailed after shows, or having their vehicle subject to smash and grab while they stop for a break? DON’T BE THAT GUY! I’ve watched how a major auction house does this – multiple drivers show up with a truck, and then drive non-stop from the point of origin to the auction house headquarters (I didn’t ask if they were armed, and it’s probably better if the bad guys don’t know for sure).

When traveling to shows, it’s understandable that you want to carry coins. You are buying, selling, exhibiting to your collector friends. If you elect to do this, please carry the coins on your person at all times. It won’t prevent you from being mugged, but the criminals will be looking for easier targets first – like unattended coins in a vehicle or hotel room.

Rule Number 2: Store your coins in a safe deposit box. This is a pain, because most people like to “play” with their coins and study them. Or obsess about tiny marks and luster breaks and convince themselves all their coins should be graded one level higher. Trust me, leave them in the bank. Right up there with stories about coin dealers being nailed after shows you have stories about collections stolen in burglaries. Usually the media is highly misinformed about numismatics and gets all the details wrong. Ten ounces of gold bullion coins comes out as “a quarter million dollars of rare U.S. gold coins,” etc. This does not change the fact that a substantial loss has occurred.

Rule Number 3: Consider insuring coins stored in a bank. I’ve never heard of a loss from a safety deposit box, but if you are so inclined you can get insurance through Hugh Wood (if you are an ANA member) which covers safety deposit box loss at a rate of $25 for every $10,000 of value. Not bad.

Rule Number 4: Separation of numismatics and the “real” world. As much as possible keep your numismatic activities and the “real” world separate. Casual acquaintances do not need to know about your numismatic activities. Don’t post on Facebook you are traveling to a coin show, that pretty much screams “come and break into my house in the meantime.”

Rule Number 5:
Theft is inevitable. It’s going to happen to somebody, somewhere, so there is no sense worrying about it too much. Take common sense precautions in order to push the odds in your favor, and have fun with your hobby. If you find yourself at a coin show talking for hours about guns, considering going to a gun show instead!



March 19, 2018

The Athens Collection CSA Halves Debut at Whitman Baltimore

Greetings and welcome to the Daily Blog as Whitman Baltimore week arrives.

The 2018 St. Patrick's Day is in the history books. It was a strong sale as Sunday purchases were substantially higher than that of Saturday. Many individuals participated in the sale which is also positive as GFRC customer base continues to expand. The next sale takes place in late August after the ANA World's Fair of Money convention.

Now all eyes are on the Whitman Baltimore show that starts on Thursday March 22. Unfortunately, weather forecasts call for cold snowy weather in Baltimore upon arrival on Tuesday and continuing through Wednesday. Warm clothes will definitely be in order! Hopefully, this new northeast'er will move through the New England corridor quickly and not impact collectors traveling southward to the show.


Athens Collection Consignment - 1861-O CSA Halves

I am so pleased to be presenting a substantial lot of 1861-O CSA struck Liberty Seated halves from the Athens Collection to start a Monday morning. The Athens Collection consignor is a student of Civil War history and has been collecting Confederate States of America struck halves for years. His set of 1861-O Seated half dollar die pairings is nearly complete with the Union struck W-2 pairing being a massive challenge in higher grades.

This individual emailed several weeks ago concerning divesting duplicates and a plan was struck. His shipment arrived middle of last week as one of the last minute consignments for the Baltimore show. Fitting in the processing of the consignment along with Seal Beach and Kansas Collections was a challenge but somehow the work was completed last evening in parallel with wrapping up the St. Patrick's Day sale. Asking prices are settled and we have decided to debut this outstanding offering at the Whitman Baltimore show. When was the last time that collectors could do comparison shopping for the W-11 CSA Obverse half dollar? Please pay special attention to the NGC MS61 and ANACS AU58 W-13 Bisecting Die Crack at Date examples. Both are quality examples and remain in as purchased holders. The PCGS AU53 W-14 combination Bisecting Die Crack/Spear Olive Bud specimen is one of my favorites in the lot and will not last long once viewed in hand. And finally, there is only one offering of the W-15 Speared Olive Bud reverse, a rarer die variety.

Athens Collection Consignment - 1861-O CSA Halves

W-11 (WB-102) - CSA Obverse

          PCGS AU50                                              NGC EF45                                           ANACS EF40 OWH


PCGS VF25   


W-13 (WB-103) - Bisecting Crack at Date

      NGC MS61                                              ANACS AU58       



W-14 (WB-103/WB-104) - Bisecting Crack at Date/Speared Olive Bud Reverse

  PCGS AU53 OGH                                     ANACS EF40 OWH  



W-15 (WB-104) - Speared Olive Bud Reverse



Global Financial News

We open the week with commodities being mostly flat with the prior week. Crude oil moved up marginally to $62/bbl while spot gold lost some ground to $1313. Bitcoin continues to hover in the low $8000 range at $8223. The 10 year Treasury yield moved up to 2.86%.

Seeking Alpha headlines offer some interesting reading for a Monday morning. We start with a look at the increasing headwinds for cryptocurrencies. Let's face it, big business and governments want a piece of the action and ultimately to take control.

Following similar action by Facebook and Google, Twitter is set to be the next to bar a range of advertisements for cryptocurrencies. The ban would apply to ads for initial coin offerings, token sales and wallets, according to the report from Sky News, and may include ads for exchanges as well with limited exceptions.

Meanwhile, Mastercard is "very happy to look at" facilitating the use of cryptocurrencies, but only as long as those virtual currencies are issued by central banks, FT reports.
Mastercard and its rival Visa both made it more difficult for users to buy bitcoin this year by reclassifying such purchases as "cash transactions," which attract higher fees.

A trade war is emerging between the EU and United States on multiple fronts. The EU plans to tax US digital companies for locally generated revenues and is planning to retaliate against metal tariffs. The proposed tax on digital revenue predates the steel and aluminum tariffs.

Washington has opposed the EU's plans for a levy on digital revenues, while Brussels published a list of 200 U.S. products that would be targets for higher duties if it failed to secure an exemption from U.S. metal tariffs. According to a draft proposal by the European Commission, large digital companies operating in the EU, such as Alphabet, Apple, Amazon, Facebook and Twitter, could face a 3% tax on their gross revenues based on where their users are located.

The powers in the East, China and Russia, now have leaders for life. Xi Jinping has cemented control of China's Communist party while Russia's Putin won another term in a landslipe election. The West should take serious note of this development as long term policies, including military developments, can be optimized under life long leadership.

Russian President Vladimir Putin won re-election by a wide margin Sunday, extending his rule amid an escalating confrontation with the West. The Kremlin's longest-serving leader since Joseph Stalin scored almost 77% of the vote, putting him on track for a new six-year term. The landslide victory comes despite a stagnating Russian economy that follows the longest recession in two decades.

China has elevated a key confidante of President Xi as part of a broad reshuffle of government positions that now mostly consist of his Communist Party allies. Yi Gang, a vice governor of the PBOC, has been nominated to replace Zhou Xiaochuan, who has run China's central bank for more than 15 years. He has pledged to follow "prudent" monetary policy, promote reform and maintain financial stability.


Wrapping Up the Blog

Today brings yet another busy day. St. Patrick Day sale orders will be shipped followed by organizing GFRC inventory, PCGS submissions and invoicing orders to be picked up at the Baltimore show. No coin can be left behind due to an oversight so it will be another day of keen attention to details. Preparations for a 15 hour drive to Baltimore are also in order. Are we tired yet?

As a result, I'm wrapping up the Blog early and there will be no Daily Blog edition on Tuesday and Wednesday. Everyone needs a break at some point. Please check back later in the day Wednesday for a report on Baltimore pre-show new purchases.

Thank you for visiting and I look forward to meeting with GFRC clients at the Whitman Baltimore show.




March 18, 2018

St. Patrick's Day Sale Wraps Up Today

Greetings and welcome to the Daily Blog.

Hot coffee and leftover pasta are breakfast items in the GFRC office as I attempt to cob together another Blog edition.

Orders during the second day of the St. Patrick's Day sale were slow but reasonable. Any sales order is a chance to find a new home for aged inventory and making way for the new. The Tenafly Collection consignor emailed later in the day and decided to reduce prices on five piece that were consigned back in October 2016. Instead of 10%, he directed that prices be reduced by 25% to move these along. Here is a gallery of the five offerings that are now discounted 25%.

Tenafly Collection - 25% Pricing Reductions



The St. Patrick's Day sale wraps up at 9:00 pm with the banner and price list disappearing into the GFRC record books. The next sale, Christmas in August, arrives after the annual ANA World's Fair of Money event.


GFRC Consignment Quality and Value are Increasing

Probably the best barometer for a numismatic consignment business is the type and value of consignments being received. It is difficult to believe, but GFRC is now in its sixth year of operation. What started as a tiny hobby business in mid 2013 has growth into a substantial retail sales operations in the numismatic industry. GFRC's reputation has been established for developing unique website marketing approaches, providing educational commentary in the Blog, offering strict attention to service and, of course, faciliating collector to collector trading of premium numismatic items.

Since the start of 2018, consignment quality and value has noticeably increased. This fact is easily seen since average sale price per coin sold is readily available via the COIN database. The annual sales data is irrefutable; 2015 averaged $513/coin, implementing the COIN system during 2016 brought a large increase to $712/coin. During 2017, the average price per coin sold increased to $748, a 5% improvement. Since the beginning of 2018, the average price per coin sold has grown significantly to $827. During the 2015 to 2018 timeframe, volumes have also grown as the consignor client base continues to expand.


Significant New GFRC Consignments

The Whitman Baltimore show and follow on timeframe brings the arrival of truly important consignments. Here are several to consider.

New Jersey Collection - Liberty Seated Halves

The New Jersey Collection features a complete set of Liberty Seated halves at the AU58 grade level. Yes, all the dates are included except for the 1878-S. So far, GFRC has sold a portion of the San Francisco mint pieces with the 1855-S remaining on the price list and available at Booth 818 at the Baltimore show. The balance of the San Francisco mint halves along with the New Orleans mint strike pieces will be transferred to GFRC next week. Please remember that this set was assembled over three decades.

1861-O CSA Liberty Seated Halves

About a month ago, I was approached by a collector who reads the Blog and agreed that it was time to divest some of his numismatic holdings. First on the list was a group of duplicate 1861-O CSA Liberty Seated halves. That consignment has arrived and retail pricing is being discussed today! The lot includes W-11 CSA Obverse, W-13 Bisecting Crack at Date, W-14 Bisecting Crack at Date/Speared Olive Bud Reverse and the challenging W-15, Speared Olive Bud Reverse. Most importantly, nearly all the consigned pieces are at the EF and AU grade levels! My goal is to complete pricing formulation in the next 24 hours and having these available at the Whitman Baltimore show.

Cold Harbor Collection

The sale of the wonderful Cold Harbor Liberty Seated quarters has gone well. These impressive lot appeared in the Blog on March 12 with three of the six pieces selling immediately. The balance will be on display at the Whitman Baltimore show. This individual is pleased with initial results and emailed last evening wondering if I could locate clients for two amazing Liberty Seated dimes. They are;

1866 PCGS MS66 CAC, the New England Museum specimen

1867 PCGS MS66+ CAC

After a brief discussion, it was decided that both pieces will ship to GFRC on consignment, arriving immediately after the Baltimore show. This is fair warning to those individuals seeking the absolute best examples of these Liberty Seated dime dates.


Final Notice: Whitman Baltimore Show - PCGS Crossover Submissions

Requests for potential PCGS crossover submissions, at the Whitman Baltimore show, have been made by several consignors. If you are a GFRC consignor and have coins in old ANACS holders that are worthy of a crossover attempt, then please contact me via email in the next 24 hours. I will be kitting the crossover submission on Sunday and Monday. Baltimore show crossover fee is $65 per coin + 1% if crossed and $10 if not crossed. I will allocated PCGS handling feee across the number of submissions. Please consider the fees carefully. Charges will be added to consignor's account and can be paid via Trading Desk credit or check.


Daily Featured Coins

GFRC continues to make inroads into the Draped and Capped Bust coinage market space. The challenge, as for all dealers, is locating quality examples including those with CAC approval. At this week's Baltimore pre-show, I will be looking for strictly original Draped and Capped bust coinage along with Liberty Seated material and, of course, quality United States gold. Following are current Bust coinage highlights from the GFRC price lists.

Quality CAC Approved Liberty Seated Dollar Offerings




Ok, time for a much needed health walk followed by another day in the GFRC office kitting St. Patrick Day sale orders and loading the balance of the Kansas Collection offerings to the price list.

Thank you for visiting!




March 17, 2018

St. Patrick's Day 1 Sales Results are Strong

Welcome to the Daily Blog on a quiet Saturday morning.

Friday was a whirlwind day and I can't believe I'm sitting here writing another Blog edition. The day started with usual Daily Blog composition followed by responding to early morning St. Patrick's Day sales orders. Orders were pulled and invoiced for payment; shipping boxes were staged for early Saturday packing and shipment. By 11:00am, it was time for a quick lunch, since a 2:00 pm meeting had been previously scheduled with our tax accountant in Naples, Florida. "Tom" is our long time tax accountant and another Mainer that has moved to Florida. The drive from Venice to Naples takes nearly two hours and the cellphone is ringing with more orders while driving. The tax documentation review and final calculations takes us to 4:00 pm followed by an early dinner at Docks restaurant on Crayton-Cove in Naples. We return home and I'm immediately back in the Venice office and worked until 10:00am responding to more orders and starting to prepare USPS shipping label. By 10:30, it was a scotch in hand, listening to Moby's new age Hotel recording and dozing off. It had been another much too short day in terms of available hours.

So how did the first day of the St. Patrick's sale go? Strong is the best way to describe. A total of 32 coins sold at roughly $15,000. Blog readers may have different perspectives depending on their collecting specialty and disposable income. From my perspective, the results are excellent and consistent with expectations. Many of the sold items were priced under $200 and have aged on the price lists. The GFRC sales events are an opportunity for consignors to deal with those aged coins which require a healthy discount towards salability. GFRC customers, on the otherhand, are pleased to acquire nice coins at a discount. Everyone wins during a GFRC sales event include me as room is made in the inventory boxes for new purchases and consignments and the online price list appear fresh as new coins are posted.

A quick check of Google Analytics indicates 406 hits to the St. Patrick's Day price list on Friday.....not bad.

One apology must go out to the Wisconsin Collection consignor. It seems that at every sales event, I manage to not capture the inputs of one consignor. This time it was the Wisconsin Collection consignor. He pointed this fact out during late Friday afternoon and corrective action was immediately taken. His coins are now on the St. Patrick's Day price list.


The Numismatic Industry Focuses on Baltimore

Yes, the Whitman Baltimore show arrives this coming week. It is difficult to ignore this fact as other dealers are sending out email newsletters with new purchase highlights and booth locations. I'm proud of the fact that GFRC does not use unsolicited email newsletters. Rather, the Daily Blog allows customers to visit when they are in a numismatic mood and wish to gain insight on latest consignment news and offerings.

So yes, GFRC will be at the usual Whitman Baltimore show location along with W. David Perkins, Numismatics. Len Augsburger and Dan White will be the GFRC table assistants and ready to respond to customer visits. I received a call from the Whitman staff, earlier this week, indicating that the new Mega Redbook signing and short lectures will be held at Whitman booth 720. So the bourse area surrounding GFRC could be a bit louder than normal and your understanding is appreciated.

Whitman Baltimore Show - March 22 - 24, 2018

Gerry Fortin Rare Coins and W. David Perkins Numismatics - Booth 818


Wrapping Up the Blog

Please forgive me but the packing and shipping window is compressed on Saturday's and I need to get to it! Therefore let's end the Blog here for the day. Time for a quick shower followed by a busy morning of invoicing and shipping St. Patrick's Day sales orders.

The St. Patrick's Day sale is still in effect with over 500 discounted coins remaining and seeking a new home. I'm looking forward to your visits and potential purchases.

Wishing eveyone a great St. Patrick's Day weekend!




March 16, 2018

St. Patrick's Day Sales Orders Are Pouring In!

Greetings and welcome to the Daily Blog as the 2018 St. Patrick's Day sales event is underway.

Don't you love it when a project comes together at the last minute but as planned? This is the case with the St. Patrick's Day sale. Actually, an alternate approach for loading the COIN database with price reduction instructions was created on Thursday morning and simplified the task. One becomes fixated with continuous improvement when working in integrated circuit (IC) manufacturing in the semiconductor industry. Process simplification (cost reduction) and error elimination are paramount for survival in such a competitive environment. This background continues to be applied to GFRC and has me questioning any work process towards finding a quicker approach that is less error prone. Thursday's efficiency improvement was a simple change in work flow. Instead of uses the Hotmail Inbox as the queue for loading price reductions, I sort the COIN database by consignor and then searched Hotmail for each consignor's emails. At or near the top of the search was the email with discounting instructions. If no email could be found, the consignor was contacted for instructions and they responded quickly.

As a result, loading and debugging the St. Patrick's Day sale only took about 6 hours of continuous effort. Even the balance of the latest Seal Beach Collection consignment made it to the price list yesterday and sales are underway including the 1867-S PCGS AU55 CAC and 1873-CC No Arrows NGC AU55 CAC halves! Great coins don't last long....

So the St. Patrick's Day sales event is live and the orders have started arriving from United States and China customers who visited at the midnight launch. A thank you goes out to Matt Yamatin for designing a straightforward application that can be reused across the three annual GFRC sales events.


Seth Godin's Blog: Everyone has an accent

Checking Seth Godin's blog this morning brought a good laugh and definitely worth sharing. How true the second line is concerning life in general. Recognizing those who do things better than us is difficult but key for locating role models or benchmarking opportunities. Recognizing those who do things poorly is commonplace and best to ignore.

Everyone has an accent

The fact that we think the way we speak is normal is the first clue that empathy is quite difficult.

You might also notice how easy it is to notice people who are much worse at driving than you are--but that you almost never recognize someone who's driving better than you are.


Whitman Baltimore Show - PCGS Cross Over Submissions

Requests for potential PCGS cross over submission, at the Whitman Baltimore show, have been made by several consignors. If you are a GFRC consignor and have coins in old ANACS holders that are worthy of a cross over attempt, then please contact me via email in the next 48 hours. I will be kitting the cross over submission on Sunday. Baltimore show cross over fee is $65 per coin + 1% if crossed and $10 if not crossed. I will allocated PCGS handling feee across the number of submissions. Please consider the fees carefully. Charges will be added to consignor's account and can be paid via Trading Desk credit or check.


Global Financial News

There is much to offer this morning in Seeking Alpha's Wall Street Breakfast headlines, but first a quick look at commodities. There is little change in commodity prices with crude oil at $61.41, gold at $1320 and Bitcoin struggling to hold the $8000 level at $8116. The 10 year Treasury yield continues to move down at 2.81%.

We open with Crown Prince Salman and his remarkable efforts to reshape Saudi Arabia into a major power and counter balancing Iran's growing control of Iran and Syria.

"Saudi Arabia doesn't want to acquire any nuclear bomb, but without a doubt, if Iran developed a nuclear bomb, we will follow suit as soon as possible," Crown Prince Mohammed bin Salman told 60 Minutes. The kingdom already has plans to build 16 nuclear power reactors within 25 years, and the cost of the projects could reach $80B, a huge opportunity for the companies that build and operate nuclear plants.

The Germans and French appear to be at odds on next steps for European Union. The German and French cultures are very different and pooling fiscal resources and liabilities will not play well in Berlin.....FYI, Matt Yamatin is running the Berlin Marathon on September 16.

Angela Merkel will reportedly push back against Emmanuel Macron's plans to overhaul the EU at a meeting in Paris this afternoon, reaffirming her skepticism over the pooling of fiscal resources and liabilities among eurozone members. The French president's pledge to strengthen the EU and buttress the foundations of its common currency was a core part of the message that led to his election last year.

Mission Mars is only two years away!

New space race in the making... Vladimir Putin has announced a mission to Mars next year, followed by manned trips in a bid to colonize the Red Planet. NASA is also planning a mission - for the summer of 2020 - when the positions of the two planets relative to each other are optimal for a landing. Private companies are also in the mix, with SpaceX's Mars rocket likely ready for test flights in 2019.

Ford is making a major bet on hybrids for its future car line up.

In a dramatic statement out of Detroit, Ford announced it's going all-in on hybrids. 75% of its lineup will be replaced in the hybrid push, while the automaker will add four new trucks and SUVs. The news comes as UBER discusses the possibility of installing its self-driving systems in Toyota minivan models, expanding its partnerships with outside companies.


Daily Featured Coins

The Liberty Seated dollar denomination was the last product line to be seriously stocked and added to the GFRC line up. Since late 2017, Seated dollar sales have increased nicely and moved ahead of the Seated half dime denomination in terms of absolute sales dollars. Following are quality CAC approved Liberty Seated dollars to consider on a Friday morning if not focused on the St. Patrick's Day Sale.

Quality CAC Approved Liberty Seated Dollar Offerings




Thank you for visiting with me today and every day. Daily Blog readership continues to increase with 600 average daily hits being the new "normal". I could have never imagined a better last career in life.

Please check back tomorrow for an update on St. Patrick's Day sales performance and other ramblings. Wishing everyone a great close to the week.




March 15, 2018

St. Patrick's Day Sales Event Arrives at Midnight

Welcome to the Daily Blog and thank you for checking in.

The numismatic calendar is heating up in a hurry! LSCC regional meeting planning is already underway for the Central States show in Schaumburg, IL on April 25 - April 28. The show is being held at the Renaissance Schaumburg Hotel and Convention Center, 1551 North Thoreau Drive, Schaumburg, IL 60173. Our LSCC Meeting will be held on Friday, April 27, 2018 in the Convention Center’s Prosperity Room from 9:00 AM to 10:00. I will be giving a presentation entitled,“Liberty Seated Quarters: An Underrated Series and Denomination” which will be a subset of that offered as part of the Winter FUN show educational program.

The annual ANA World's Fair of Money convention takes place in Philadelphia during 2018. W. David Perkins and I are already making hotel reservations and preparing for the ANA's table draw system for securing bourse floor booth space. The LSCC annual meeting will be at this show on Thursday August 16 at 9:00. Yes, I will be hosting the annual meeting. There will be three important club awards this year; Kamal Ahwash Literary Award, President's Award and finally, the induction of another deserving LSCC club member into the Hall of Fame. If attending the ANA convention, then you must make a point of attending the LSCC annual meeting.


GFRC St. Patrick's Day Sale Arrives at Midnight - Another Huge Sale!

March is turning out to be an exciting month! GFRC sales have been outstanding since returning from Shanghai due to major consignment support. Now it is time for the St. Patrick's Day Sale that kicks off at midnight today and will be in effect through Sunday 9:00 pm. Many consignors are participating and an opportunity for collectors to secure coins at a discount.

I'm still loading price reductions into the COIN system and will be at it for most of the day. Here are a few highlights;

- Nearly 550 Coins on Sale

- Pricing Reductions up to 45%

- Broad Based Consignor Participation

- Special 30 Day Payment Terms for Purchases Totaling $2000 or More....50% down immediately, then 50% in 30 days.

- Targeting More than $30,000 in Sales Across Three Days


St. Patrick's Day Sale - Price List Usage Instructions!

GFRC customers are becoming familiar with the structure of the special sales price lists. For potential new users, I'm being proactive again and providing specific reminders towards smooth and enjoyable shopping.

The St. Patrick's discount list is a large file or database that is downloaded and contains nearly 550 listings include images. It take time to download the file but once available on your browsing device, moving around and making selections is straightforward.

Click on the St. Patrick's Day Sale List banner at the top of every GFRC is that easy!

The St. Patrick's sale list is best accessed with laptop or tablet interface. Mobile phones could be challenging as a primary access device. GFRC is not responsible for slow downloads on mobile internet connections. Use a laptop or desktop with cable internet for best performance.

Wait about 45 seconds for the special price list database to download so please be patient while the price list is click is all it takes to access.

Please review the below preview image carefully! Separate price list tabs are located below Ordering Information; click on the tabs to access individual denominations.

Please don't use the Back Button on your device when viewing a price list tab! The Back Button will take you out of the St. Patrick's price list database.... Don't lose time reloading! Using the Back Button to exit a full screen image, after viewing, is ok and will return you to the price list tab.

Here is the instructional graphic from the November 2017 Black Friday sale as a reminder.


Making Purchases?

There are several ways to make a purchase on the St. Patrick's Day sales list.

- Clicking on the shopping cart button will launch an email address to GFRC containing specifics for the desired coin. GFRC does not have a sophisticated multi quantity shopping cart module. Instead, separate emails for each purchased item are necessary.

- Sending an regular email to or with a list of individual purchases items is an alternate method and may be faster. Just open your email browser along with the GFRC website and move between the two to record desired coins. For holdered coins, the date, holder serial number and price will easily identify purchases items. For raw coins, date, denomination and price should be sufficient.

- On Friday, Saturday and Sunday mornings, I will sort through the purchase emails and establish first priority based on email time stamp. Then a confirmation email will be sent along with total amount due including shipping. Quick payments are suggested with checks being mailed by March 19. Paypal and credit cards will bring immediate shipments but at the 3% adder that no one likes. For customers well known to me, shipments will go out on Monday ahead of payments.

- If there are any questions, please call me! I will be in the office on Friday morning until noon time and all day Saturday and Sunday.


GFRC Consignment and New Purchase News

Seal Beach Collection Consignment

I'm pleased to report that offer prices for the latest Seal Beach Collection consignment have been settled and those listing will be reaching the price list today. Already several coins are loaded with the 1844 Seated quarter being sold. The consignment highlight is a rare 1873-CC No Arrows WB-2 (R5) Seated half graded NGC AU55 and approved by CAC. This piece is offered at $9500. Might I suggest that you take a stroll through CoinFacts to gain a sense of rarity and the importance of this offering? Seal Beach's pricing is most fair and I don't expect this Seated half to make it to the Baltimore show. Here are images of the offered specimen to consider.


I was not kidding about increasing Barber coinage inventory in yesterday's Blog. Following are two new offerings to consider on a Friday morning. Both are solid specimens and quality type coins.

New GFRC Barber Quarter Offerings

  1898 NGC MS63                                                                  1911 PCGS PF63CAM



Global Financial News

Writing this section of the Blog is always a pleasure as "real" news can be explored rather than political drama in the mainstream media. We open Thursday with a look at commodities and the like. Crude oil remains flat at $61/bbl while spot gold is also relatively unchanged at $1323. On the otherhand, Bitcoin continues to struggle and is down to $8100. The 10 year long bold yield has dropped to 2.81% as February retail sales report was lackluster.

Following are a few noteworthy Seeking Alpha headlines to consider. We open with the soft retail sales report which is indicating about 2% Q1 GDP growth. There are those who may be betting that the Federal Reserve will reconsider its 3 or 4 planned interest rate hikes during 2018. Remember that the EU and Japan are still in negative interest rate territory and mild QE.

Inputting the numbers from yesterday's soft retail sales print for February, the Atlanta Fed tracker now sees just 1.9% Q1 GDP growth. That's down from 2.5% a few days ago, about 4% a month ago, and above 5% six weeks ago. Had the original forecast stuck, it would have been the best quarter since the Great Recession ended in mid-2009.

As global economies grow, so does oil demand. Luckily, with the United States being energy independent, there is ample supply from Russia and OPEC to keep prices stable.

Global oil demand is expected to pick up more quickly this year, but supply is still growing at a faster pace leading to a rise in inventories in Q1 of 2018, according to the IEA's latest monthly report. Crisis-hit Venezuela could soon tip the crude market "decisively into deficit," added the Paris-based organization, while warning that a trade war would have "strong consequences" for oil demand.

United States solar capacity continues to climb with 10.6 gigawatts estimated to have been installed during 2017. The trend is slowing due to tariffs on low priced Chinese imports.

The U.S. solar industry installed 10.6 gigawatts of new photovoltaic capacity in 2017, according to the U.S. Solar Market Insight Report, put together by GTM Research and the SEIA. The number, while still considerable, represents a 30% fall year-on-year from 2016. The study also predicts installations between 2018 and 2022 to be 13% lower than originally forecast due to U.S. tariffs on panel imports and new federal tax laws.

And finally, traditional radio broadcasting is another casualty of the digital age. When was the last time that you listened to traditional radio at home or in your car?

Sign of the times? The biggest radio broadcaster in the U.S. - with almost 850 stations - has filed for bankruptcy protection amid competition from on-demand streaming services and stagnating ad revenue. The agreement with holders of more than $10B of its outstanding debt and financial sponsors will see iHeartMedia (OTCPK:IHRT) continue daily operations during its restructuring process.


Wrapping Up the Blog

Let's end today's Blog at this point. I have a full day of loading St. Patrick's Day pricing reductions into the COIN database and performing thorough debugging before the price list becomes live at midnight. Today feels like I'm back at university and rushing to get that term paper done 24 hours before the submission deadline. There is nothing like a little stress to bring about focus.

Have a great day and good luck with discounted shopping at midnight!




March 14, 2018

Premier LSCC Membership Medal Trial Strikes Debut at Baltimore Show

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

Writers block is at hand this morning. Is it due to working a second evening in a row until midnight? Probably, but readers are treated to yet another GFRC client gallery and I'm somehow staying current with consignment arrivals. That will change today as Jim Poston's three USPS Priority boxes of new coins, and other consignments are due to arrive today. After writing the Blog and conducting morning shipping, attention shifts to loading consignor's price reductions in the St. Patrick's Day sales list that will appear at Thursday midnight. My goodness....time is running out!

Premier LSCC Membership Medal Trial Strikes at Baltimore Show


The Liberty Seated Collectors Club held their monthly Leadership Team meeting last evening and the club is in great shape. Membership is back to 627 after another dues renewal cycle. We are confident that 15 or so additional members will renew once they realize the absence of Gobrecht Journal #131. Otherwise, the exciting news is the arrival of the Premier LSCC Membership Medal trial strikes along with the four piece Capital Plastic holder. I will be holding my breath when project coordinator, Jeff Ball, loads the medals into the plastic holder and all fits correctly. The finalized product will be transported to the Whitman Baltimore show and makes its debut at the LSCC Regional meeting in Room 301 at 9:00am. If you are attending the Baltimore show, the Premier LSCC Membership medal set will be on display at the LSCC club table. From a financial perspective, this project was sized based on the production and sale of 300 single silver proof finish medals and 25 four piece (copper, two silver and one gold) medals. Preorders have the LSCC at about 1/3 of the way to those goals and hopefully the product debut will ignite another round of orders. The order window will remain open for other six months and all will wrap up by the end of the 2018.


GFRC Consignment News

I'm pleased to showcase the first installment of the latest Kansas Collection consignment. This individual is a passionate Liberty Seated dime and quarter collector with emphasis on higher circulated grade examples with CAC approval. This is yet another individual who heeded my call to divest duplicates and other coins that were not central to collecting goals for cash flow purposes.

We open the gallery with a lovely 1856 Seated quarter graded PCGS AU55 with Gold CAC approval. Already there is one FRoR on the piece. The 1845 quarter is a near gem at the assigned PCGS AU50 CAC grade with its hammered strike, lovely old time patina and blemish free surfaces. How about two 1855-S quarters to consider? The first is graded NGC F12 and the second ANACS VG08. So what is that PCGS AG03 1861 quarter all about? Look closely at the reverse as this is a Top 25 Variety; Type II Obverse paired with Type I Reverse. The Type I reverse is easily identified by the shape of the eagle's eye.

I've not completed pricing recommendations for Kansas Collection Part 1 consignment and also, for yesterday's Seal Beach Collection offerings. Somehow this must be done today along with the St. Patrick's Day COIN system preparation. Another workday to midnight? Probably....

Kansas Collection Consignment Part 1 - March 14, 2018

Nice Liberty Seated Collector Coin Offerings





Global Financial News

A quick check of Seeking Alpha headlines revealed a few news tidbits worth sharing. Let's start with the usual look at commodities and long bond interest rates.

Bitcoin continues to struggle and dropped to $8716 in the past 24 hours. Government regulation efforts have removed the cryptocurrency's charm with those seeking to evade oversight and tax reporting. Crude oil is holding $61/bbl while spot gold remains in a tight trading range at $1325. The 10 year Treasury bond is also range bound at 2.85%.

It has been awhile since taking a peek at a long term gold technical chart. Here is the 8 year Kitco chart that continues to illustrate the steel like resistance at $1365 that must be broken through, on a technical basis, before another bullish run come occur. The current trading range is above moving averages and is healthy.

Back to Seeking Alpha headlines...

China's economy is firing on all cylinders but trade war fears are impacting Asian markets.

Shares in Asia buckled under pressure overnight despite positive economic data out of China. Industrial output grew 7.2% in January-February, while fixed-asset investment expanded 7.9% and retail sales rose 9.7%. Equities seemed to be nervous over impending U.S. tariffs, which may now target up to $60B worth of goods, as well as punitive measures against intellectual property theft.

Broadcomm is planning to move its headquarters to the United States. This move should remove CFIUS acquisition concerns. The 5G mobile market is a huge technology competition issue between China and United States.

Singapore-based Broadcom is still pressing on with a plan to move its base to the U.S. despite President Trump blocking its bid for Qualcomm on national security grounds, Reuters reports. It will cost the company about $500M a year under a higher tax rate, but Broadcom believes the relocation will allow it to make acquisitions of U.S. companies that will not fall within the jurisdiction of CFIUS.

Closer to home, Walmart and Amazon are locked in a massive retail battle that will leave a host of smaller casualties in its wake. It appears that walking, biking or driving to a local market to purchase fresh produce and meats will be a thing of the past if Amazon and Walmart have their way.

Walmart is expanding its online grocery delivery service to a total of 100 metropolitan areas by the end of the year, up from six currently, a push that will help the retailer reach 40% of American households. Orders will be packed by Walmart employees before they are handed off to delivery companies, a costly model it previously resisted as Amazon, Kroger and Target invest in similar services.


Daily Featured Coins

GFRC is slowly making headway into the Barber coinage market. Just yesterday, a 1911 PCGS PR63CAM quarter consignment arrived in conjunction with the sale of an 1900-O PCGS AU55 CAC quarter. Breaking into a new market space takes strategic patience and long term persistence. Keep watching as GFRC continues to expand its CAC approved Barber coinage offerings.

CAC Approved Barber Coinage Offerings




That is a wrap for today's Blog. Lots of things to do today as GFRC has enjoyed an strong sales period after returning from Shanghai trip. Let's keep that momentum going into the Baltimore show!




March 13, 2018

Another Great Seal Beach Consignment Arrives!

Welcome to the Daily Blog and thank you for checking in each day.

It is time crunch time as the looming St. Pat's Day Sale arrives in 2.5 days along with attempting to process and load all consignments prior to traveling to Baltimore. As a result, I worked until Monday midnight to wrap up the Seal Beach Collection images, nearly complete Kansas Collection Part 1 images and also finalize pricing for the Cold Quarters Collection offerings. You will note that two of the six Liberty Seated quarters from the Cold Quarter Collection made it to the price list strictly on fumes in the gas tank at 12:30am.

Handling the 1866-S PCGS MS62 OGH quarter with Clapp, Eliasberg and Richmond pedigrees is a special event for this collector and I can see why it was included in the sets of these giants in the numismatic field. When emphasis was on strike and eye appeal in the old days, prior to 1986 and PCGS grading, this 1866-S quarter would have been a monster addition to a collection. Clearly a full mint state example and not an AU58 slider, the fields are mirrored but managed to acquire faint hairlines. The assigned grade is technically accurate and of course, CAC will not approve due to the hairlines. While inspecting this 1866-S quarter, my thoughts turned to NYC dealer Jim O'Donnell and how he would have viewed this offering. I still have the utmost respect for Jim as my last mentor. Jim was from the old school of grading and valued strike and eye appeal well above technical surface conditions. Here are the Eliasberg 1866-S images again and an important opportunity for those building high end Liberty Seated quarter sets.


Seal Beach Collection Consignment

As I've mentioned on several occasions, GFRC is blessed to be supported by some outstanding consignors/collectors. That support may not be at the same financial magnitude as the new Del Roy Hanson deal with David Lawrence Rare Coins but the concept is identical. Passionate collectors who truly enjoy their hobby and have significant funds invested need a suppporting dealer/agent to help sell their duplicates. Seal Beach is one of several key GFRC consignors and I'm so pleased to be showcasing his latest offering. The quality of each shipment continually improves as his Liberty Seated half dollar set grows in importance and sophistication. Attempting a 100% CAC approved set at the AU58 grade level is not for the faint of heart and takes considerable effort. The rewards are traditional; the thrill of the ongoing hunt and the satisfaction when another slot in the set is occupied with a gem AU58 example.

Following are eleven new Seal Beach Collection offerings. How those two Seated quarters slipped into the lot is unknown but already one has a FRoR! The 1873-CC No Arrows half is graded NGC AU55 CAC and is the obvious headline piece in the submission. All Carson City Seated halves are popular with multiple collecting groups and resulting demand is strong. The 1873-CC No Arrows date has a mintage of 122,500 and is available in lower circulated grades. But in choice AU, this date quickly moves into five figure territory especially at the AU58 level. Affordability in mint state is an issue for nearly all collectors except for a few elite individuals.

I am extremely pleased to showcase the latest Seal Beach Collection client gallery and opening with a magnificent 1873-CC No Arrows NGC AU55 CAC approved offering.

Seal Beach Collection Consignment - March 13, 2018

Important Liberty Seated Half Dollar Offerings






St. Patrick's Day Sale Inputs Close at 12:00 Noon Today

A final reminder that price reduction guidance for the St. Pat's Day Sale are due no later than noon today. Please don't worry if your email inputs are not responded too. All are sitting in my Inbox and will be systematically reviewed and added to the COIN database starting on Wednesday. Once I have completed the COIN system update, with price reductions, I will respond and confirm with each consignor. If you don't hear from me by 8:00pm on Thursday, then please send me a quick reminder. Each sale, there are 1-2 inputs that somehow slip through my inputing process as the price reduction guidance was included within an email that contained other topics and is not immediately obvious.

The sale will be another huge event based on the amount of inputs. Please consider purchasing early in the sale as I will be packaging shipments ahead of payment on Sunday for those customers who are well known to GFRC. Monday is a key day for Whitman Baltimore show preparations. St. Patrick Day sale purchases made on Sunday will be held for payment and shipment until after I return from the Baltimore show.


Global Financial News

I always enjoy reaching this module in each Daily Blog edition. It is nice to take a break from numismatic writings and instead focus on global financial markets and business events that are impacting equity and commodity prices. We open with a look at commodities and bonds.

Crude oil is flat at $61.54 along with spot gold at $1319. Bitcoin continues to struggle and is barely holding the $9000 level to start the day. The 10 year Treasury bond is yielding 2.88%.

Looking at a few Seeking Alpha headlines.... I'm in full support of President Trump and CFIUS for blocking the sale of Qualcomm to Broadcom. Remember that the Beijing Central government retains majority ownership of all its high technology companies. The international high technology playing field is tilted towards Asia and the United States government must be more aggressive in preserving U.S.A technology and security interests. Capitalism only works if all are playing by the same rules...that is not the case on a global basis.

Blocked! "There is credible evidence that leads me to believe that Broadcom... through exercising control of Qualcomm... might take action that threatens to impair the national security of the U.S.," reads an order issued by CFIUS and signed by President Trump. "All 15 individuals listed as potential candidates filed by Broadcom... are also hereby disqualified from standing for election as directors of Qualcomm." QCOM -5% premarket.

More threats from the EU concerning United States steel tariffs. Just remember that the EU was enjoying a nearly free ride for NATO defense spending until called on the carpet by President Trump....

Canada's exemption from U.S. metal tariffs have nothing to do with talks on the NAFTA, Canadian Prime Minister Justin Trudeau told CNBC, but he thanked President Trump for the "special consideration." The EU is not mincing any words, however, as French finance minister Bruno Le Maire said member states should form a united response and could even retaliate alongside nations from outside Europe.


Daily Featured Coins

We close today's late Blog with a look at other offerings from the Seal Beach Collection. Just because a coin has been on the price list for more than three months does not make it stale. I really don't understand the collector mindset and purchasing psychology when it comes to numismatics. In many cases, too many great coins hitting the price list at the same time tapes out the financial reserves of many collectors and they must recharge before attempting incremental purchases.

Following are some great Seal Beach Collection coins that need a new loving home. Please consider and contact me to see if any of these will be included in the St. Pat's Day sale. Why not get a head start towards securing a quality Seal Beach duplicate?

Seal Beach Collection Consignment Offerings




Yes, this Blog edition is way late....this is what happens when I work until past midnight! Thank again for checking in.




March 12, 2018

Iconic 1839-O F-106a PCGS MS63 Gold CAC Seated Dime Changes Ownership

Greetings and welcome to the Daily Blog on a Monday.

All I can say is the past weekend has been exciting in terms of numismatic deal making. What started as phone call and email discussions on Friday/Saturday turned into important sales of the iconic 1839-O F-106a PCGS MS63 Gold CAC Liberty Seated dime and the 1858-S PCGS AU53 Liberty Seated quarter on Sunday afternoon. For combined Daily Blog readers and LSCC members, you've probably read the Gobrecht Journal article (Issue #131) concerning the history behind my collection of Gold CAC Liberty Seated dimes. One of those dimes, the 1839-O F-106a Cobweb Shattered Reverse, is featured in the color centerfold sector along with a short essay on its acquisition at the 2005 Central States show via Heritage Auction. This Cobweb Reverse dime was one of my favorite pieces until breaking up my Top 100 Die Varieties set and selling the piece during September 2016 to a great GFRC friend. That individual attended the Irving Spring ANA show and called me from the bourse floor concerning selling back the 1939-O dime towards raising cash for another acquisition. I immediately went to work to locate a buyer and closed the deal on Sunday afternoon.

Similarly, in the March 9 Blog, I featured a wonderful 1858-S PCGS AU53 quarter consigned by the Golden Harvest Collection. This dime is very rare in AU with few examples ever reaching the market place and mostly sold at auction. After the Blog posting, I was contact for a FRoR on the piece and finally settled the asking price early Sunday morning with the consignor. Immediately, the piece was offered and sold to the first individual expressing interest. Another major Liberty Seated quarter collection received a substantial upgrade with the Golden Harvest 1858-S AU specimen.

Both buyers of the 1839-O dime and the 1858-S quarter are thrilled with their acquisitions as pricing was fair with no negotiations required. My role was to set a transactional price that was equitable to both the consignors and the buyers without drama or theatrics. This is why GFRC continues to grow with increasingly strong consignments as is the case with the Cold Quarters Collection lot featured in today's Blog. Collectors now understand my facilitating role as the exchange of key dates Seated coins between advanced collectors is simplified without the risk and time lag of going through a major auction house.


GFRC Consignor Proceeds Tops $2,400,000

Back on October 6, 2017 it was announced that GFRC attained the $2,000,000 mark in terms of returned proceeds to consignors. I'm most pleased to report that in just five months, GFRC topped the $2,400,000 mark as a result of Sunday's consignment sales. My goal for reaching the $3,000,000 level by end of 2018 appears to be achievable as long as quality consignments continue to arrive on a regular basis. The next major influx of important consignments takes place at the Whitman Baltimore show with the New Jersey Collection Liberty Seated halves, more duplicates from the Newtown Collection and a host of smaller consignments.


GFRC Consignment News

GFRC is incredibly honored to have been selected to handle the following six Liberty Seated quarters from the Cold Quarters Collection. Honestly, this consignment was a complete surprise! An email arrived early last week with the proposal and shipping directions where supplied to cover transfer under GFRC business insurance. This amazing lot arrived on Saturday with photography and image processing taking place yesterday for today's Blog preview. Rapid fast turnaround time is one of the service attributes that GFRC can offer to consignors. Rather than working with a sizable organization and operational system of larger competitors, the GFRC experience is consistent with working directly with a local craftsman.

The Cold Quarters Collection offers some incredible selections highlighted by the Eliasberg 1866-S PCGS MS62 OGH specimen. Already a FRoR arrived this morning for this piece. How often does one see an 1852 double date quarter graded NGC MS63 or an 1866 Motto quarter graded PCGS MS64 CAC. The 1880 quarter is a gorgeous proof residing in NGC Fatty holder and graded PF63 with Gold CAC approval. I'm certain that several of these offerings will not be around for the Baltimore show in just ten days.

Cold Quarters Collection Consignment - March 12, 2018

Important Mint State and Proof Liberty Seated Quarter Offerings




In between all that goes on at GFRC, I continually search for quality new purchases. Below are three pieces worthy of consideration. The 1862 Liberty Seated half is attractive and conservatively graded by PCGS as AU50 with CAC approval.

GFRC New Purchases



Global Financial News

We start the weeks with global equity markets in a jubilant mood due to huge United States job creation report that is overshadowing recent steel and aluminum tariffs announcement. But first, let's review commodity prices and interest rates. Crude oil has moved up ever so slightly to $61.71 while spot gold has dropped to $1318 as the dollar strengthens short term due to an outlook for higher interest rates. Bitcoin remains under the five figure level at $9827 while the 10 year Treasury yield is relatively flat at 2.89%

The EU and Japan are pressing for exemption from Trump's steel and aluminum tariffs. After watching Trump's Pittsburgh campaign rally speech, the EU may have a hard sell after threatening retaliation.

The EU and Japan pressed the U.S. to exempt them from steel and aluminum tariffs on Saturday as the three sides met in Brussels as part of a trilateral effort to combat unfair trade practices. There was "no immediate clarity on the exact U.S. procedure for exemption however, so discussions will continue next week," EU Trade Commissioner Cecilia Malmstrom announced after the meeting.

It is now official, Xi JinPing is China's Communist President for life. In the meantime, President Trump is pressing China on balanced bilaterial trade.

China's rubber-stamp parliament has passed a series of constitutional amendments, including one that removes presidential term limits, allowing President Xi to remain in office indefinitely. It comes after the U.S. reportedly asked China to import more cars, aircraft, soybeans and natural gas as part of a plan to cut its bilateral trade deficit by $100B and avoid placing tariffs on Chinese imports.

The Bank of International Settlements has it right; it is time to end EU/Japan QE programs and negative interest rates.

The recent volatility in global financial markets should not deter top central banks from lifting interest rates or ending years of unprecedented stimulus, according to the Bank for International Settlements. "Some volatility is healthy" after the "insidious... illusion of permanent calm," said the central bank of central banks, but those fears and trade war worries are making the "delicate task" of trying to normalize policy more complicated.

I did not realize that the end of Castro brothers rule of Cuba is coming to an end.

Six decades of rule by the Castros is coming to an end in Cuba as the nation of 11M went to the polls on Sunday for pre-selected ruling party candidates to fill the 600-plus seat National Assembly. The members will then choose a successor to President Raul Castro when he steps down next month. All signs point to Miguel Diaz-Canel, current first vice president who is expected to stick to Cuba's economic and political path.

The entrepreneur of our generation, Elon Musk, continues to dream big with respect to space flight.

"I think we will be able to do short flights, short up and down flights, probably in the first half of next year. This is a very big booster and ship," said SpaceX CEO Elon Musk, commenting on an upcoming Mars mission. The rocket system (codenamed BFR) is also expected to have the capability of return trips to the Moon with in-space refueling and space station resupply missions.


Daily Featured Coins

I'm looking forward to the Whitman Baltimore show as it allows time with my good friend Dan White aka Osprey Collection. Dan manages the GFRC gold department at major shows and will be found sitting in front of the gold coin display cases. Even though Dan's primary focus is United States gold, he still has a keen eye for better early type. Following are important consigned offerings from the Osprey Collection to consider on a Monday morning. All will be on display at the Whitman Baltimore show.

Osprey Collection Consignment Offerings




So ends today's Blog. Time to move directly into the packing and shipping department followed by the rest of the day focused on consignment image processing and pricing. There are many great new consignments to absorb before the Baltimore show. Come Tuesday afternoon, my attention shifts to preparing the St. Patrick's Day sale price list based on consignor price reduction inputs. At GFRC, there is never a dull moment....I would not want it any other way.

Thanks for stopping by and please do consider a purchase.



March 11, 2018

Countdown to the St. Patrick's Day Sale

Welcome to the Daily Blog as we are back on Daylight Saving time.

I'm still feeling the effects of jetlag and now spring daylight savings time takes away an hour of sleep. If China can manage a country of 1.4 billion people that has a land mass width of 2193 miles (USA is 2680 miles) and no time zone changes, then way can't the USA eliminate the annoyance of daylight savings time? When conducting international business, one is constantly attempting to remember the time of year and the required time zone adjustment. So why daylight savings time? A quick internet check found the primary reasons to be extending evening daylight and saving energy.

Daylight saving time (DST) was first used in Canada during 1908 by residents of Port Arthur, Ontario (today's Thunder Bay) to gain evening daylight. The Germans popularized DST during 1916 across the German Empire and Austria during World War I to minimize artificial lighting and save fuel for the war effort. Immediately afterwards, the UK, France and other countries follow suit through the end of World War I. DST returned during World War II and is with us today.


Gearing Up for the St. Patrick's Day Sale

The infamous Matt Yamatin sales banner and countdown clock is now functional for the St. Patrick's Day sale that start March 15th at midnight. Consignor discounting is moving along nicely and the cut-off is this Tuesday 12:00 noon for inputs. I need a bit over a day to collect all the inputs, update the COIN database and perform debug of the discounted price list before going live.

Based on inputs, it will be another great sale and a chance to secure quality coins at a reasonable discount. Aged GFRC inventory will also be discounted as we make room for the upcoming Whitman Baltimore and Dalton GA show new purchases and a ton of consignment arrivals.

Coordinating this year's St. Patrick Day sale and preparations for the Whitman Baltimore will be challenging. The sale finishes on Sunday evening March 18 and I'm on the road to Baltimore early morning March 20. Please be prepared for shipments of all paid St. Patrick Day sale lots after I return from Baltimore show. Sold lots will be removed from inventory and staged for shipping. Those that are paid for immediately via Paypal, can ship that Monday along with some courtesy shipments to well known customers.


GFRC Consignment Update

Following is a quick summary on consignment backlog and where each offering is staged prior to being added to the price list. This exercise is both a planning effort by which to get organized and also to help the GFRC community anticipate the arrival of new offerings. None of the new consignments will be involved in the St. Patrick's Day sale so if you see a coin of interest, then best to move on it quickly.

Montana Collection Consignment

All offerings are posted to the price list and lots are selling quickly. This consignment features coins that are well above average for quality and an opportunity for the advanced collector to secure eye candy type coins that have been off the market for years. All were purchased from Aspen Park Rare Coins or HLRC during the past ten years and now time for divestment.

Golden Harvest 1858-S Seated Quarter

Will be priced and hopefully added to the price list later today.

Crazy Joe's Special Seated Consignment

Will be priced and hopefully added to the price list later today.

Kansas Collection Consignment Part 1

Has been photographed and will move into image processing loop today.

Seal Beach Collection Consignment

Awaiting photography as Venice weather has been cloudy or raining (yesterday). Hopefully the sunshine returns today to get this job done.

Cold Quarters Collection Consignment

Arrived on Saturday and really an awesome lot of mint state Liberty Seated quarters that are most welcome for display at the Whitman Baltimore show. Awaiting photography and pricing.

Kansas Collection Consignment Part 2

Arrived on Saturday and positioned in the photography queue.


Daily Featured Coins

We close the Blog with several Liberty Seated dimes from my personal reference collection that still need to find a new home. The Maine homestead will need a repaved driveway during 2018 so best to sell a few more coins towards that project. Offers are welcomed as I wish for these pieces to find good long term homes.

Gerry Fortin Reference Collection Seated Dimes







March 10, 2018

Whitman Baltimore Show Preparations Underway

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

Jetlag is at hand so the day started early at 3:00am. What is there to do at 3:00am? How about formatting images for a small lot of newly consigned coins entitled Crazy Joe's Seated Special consignment? Now this individual has some spunk.

Seriously, the GFRC consignment pipeline is flowing smoothly with new arrivals each day. On Friday, the new Seal Beach Collection consignment arrived with the usual top quality and host of CAC approved Seated coins. The Kansas Collection consignment coins were photographed and are in the image processing queue. The Cold Quarters Collection consignment is due to arrive today. And even Jim Poston is back in action and shipping a lot of CAC approved coin on Monday.


Whitman Baltimore Show - A Important GFRC Event

The upcoming Whitman Baltimore show is an important event for my humble GFRC business. March sales were off to a very slow start due to being in Shanghai until March 6th. Sales have ramped nicely during the last four days. However, achieving the March sales forecast will be highly dependent on Whitman Baltimore show sales and new purchases. Whitman will be a significant event for sales pickup and consignment arrivals along with new purchases and meeting old friends in the mid Atlantic corridor. Hopefully the weather cooperates as Gerry and Dan White are driving from Florida directly to Baltimore.

Here is a brief summary of the life of a coin dealer when attending the Baltimore show.

We start with a 15 hour drive on Tuesday as a warm up exercise. Actually, I'm looking forward to the journey as the first major excursion in the new Acura MDX. The trip is timed to avoid the awful Virginia through Washington DC corridor traffic. Wednesday brings an early start with inventory moving immediately into Whitman security followed by a first meeting with my favorite wholesale dealer. GFRC appreciates having first shot at his new inventory! Then it is a marathon day of wholesale buying at the convention center and the Marriot hotel. I'm sure Dan and I will be burnt out by end of day so scotch and a quiet dinner will be in order. Thursday morning brings an early breakfast, retrieval of inventory from security and Booth 818 setup starting at 8:00am. Len Augsburger arrives as table assistant to help Dan and myself bring GFRC into full operation. Once the booth and inventory are configured, Dan heads to the bourse floor searching for another round of United States gold purchase orders from Chinese clients. Early birds arrive at 10:00am followed by the public at 12:00 noon. Are we tired yet? Hardly, as retail sales are paramount during the subsequent 48 hours along with attending the traditional Thursday evening LSCC dinner (M&S Grill) and the Friday morning LSCC Regional Meeting at 9:00am in Room 301.

Consignment arrivals will be substantial at the March Baltimore show. On the leader board is the New Jersey Collection with the next major installation of AU58 Liberty Seated halves; residual San Francisco pieces and the entire New Orleans subset. Yes, the New Orleans lot was due to be transferred at Winter FUN but an unfortunate event dictated that we delay the transfer at Whitman Baltimore. Our Newtown friend will be at the show and transferring another lot of Seated dime and half dollar duplicates (~10 pieces). The Malvern Collection is dropping off a consignment and several other new individuals will be issuing their first consignments. If all goes to plan, GFRC should return to Venice with at least a full double row box of consignments and probably another to capture new purchases. That will be over 100 new coins to process the following week in preparation for online sales and display at the mid April Dalton GA show.

Let's not forget grading submissions and crossover attempts for clients too! The litmus test for a great show is if David Perkins and I have no time to talk to each other.....

The return drive to Venice will be more laid back and spread across late Saturday and Sunday. How about an Auburn Lakes Condo Association board meeting first thing on Monday morning to start the recovery along with shipping online order backlog? Indeed, it will be a busy 7 day period but still the best job I've ever had! Preparations and planning are paramount to ensuring every customer is satisfied with their GFRC experience. That is the secret.

Whitman Baltimore Show - March 22 - 24, 2018

Gerry Fortin Rare Coins and W. David Perkins Numismatics - Booth 818


GFRC New Price List Additions

Following are incremental coins that will be reaching the price list this weekend. First priority is loading the Montana Collection consignment as asking prices are settled.

This 1899 NGC MS64 Fatty holder dime was purchased on Friday from a local client and doubtful it will be around for long. This piece is 100% naturally toned with great eye appeal.

GFRC New Purchase

1899 NGC MS64 Fatty Dime - Eye Candy

Then there is a lot of crusty original gray Seated coins with the 1845 PCGS EF40 Seated dollar being the highlight. I hope that Crazy Joe has more offerings in the future!

Crazy Joe’s Seated Specials Consignment - March 10, 2018



Advice from Warren Mills at Rare Coin of New Hampshire: How to Survive at Auction

Every month, Warren Mills publishes the Rare Coin Enthusiast newsletter and I pay attention. Warren is one of the good guy dealers; highly respected for his knowledge and integrity. During my years of building the Liberty Seated dime collection, Warren was one of the dealers that I would frequent for high end mint state purchases.

While in the San Francisco United Red Carpet lounge on Tuesday, I checked emails and saw a new edition of the Rare Coin Enthusiast had arrived. With a five hour connection, the newsletter was a welcomed read. But it was more than that. Warren opens the newsletter with some straight talk concerning buying coins at major auctions. Honestly, I don't often buy at auction as always frustrated with the amount of graded junk coins seen during previews. One has to have considerable patience and plenty of experience to sort out the quality coins from the dealer retreads and doctored specials.

I liked Warren's article so much that I picked up the phone and called Warren for permission to post the article in the Daily Blog. Warren agreed and even suggested that he interview me for an upcoming segment in his Rare Coin Enthusiast. So here are Warren's stories and words of wisdom concerning purchasing coins at auctions and the potential risks.

How to Survive at Auction

Welcome to the March Edition of The Rare Coin Enthusiast. This month I want to address the need to acquire coins from auctions. This is my 39th year in the coin business and it is a true blessing to work at your hobby. However, there are times when I encounter situations that can be very frustrating. Allow me to give you a description of such a scenario.

We connect with a customer by phone, email, or at a show. After pleasantries the question is, “Are you still buying coins?” In many instances the answer is, “Yes, but I buy most of my coins in auctions now.” I follow up with, “How come, you’ve acquired great coins from us in the past, why now mainly auctions?” Usually it has to do with our inability to supply or find solid coins when there are tremendous amounts of marginal ones in auctions. Auctions do have some great coins, but most are marginal at best! Okay, I get it, but three recent encounters with clients made me see a need to address potential pitfalls here.

Auction houses are great at marketing their products. Once your buying patterns are established, they email you about future lots that are coming up for sale which may be of interest to you. This is fine if you know what you are doing. Many buyers only have an idea of what they like. They may have started buying coins with one or two reputable dealers, then figured out they’ll cut out the middleman and buy direct. This is just enough knowledge to actually have a negative effect on the value of your purchases. Here are a few examples that we recently encountered:

The Morgan Dollar Enthusiast - He found a wonderful offering of dates and price ranges in auctions, checked out the scans, focused on the lots he liked and went to town. When I reviewed his purchases, I found that he had no ability to detect original white from over-dipped bright. His nicely toned coins had way too many marks to justify grades, but the marks were partly hidden under the toning. Proof-likes and Deep Mirror Proof-likes had too many die striation lines to technically warrant the designations. Older holder P/L’s and DMPL’s are particularly subject to this.

So after years of making these types of acquisitions, the client decided to send them all in for CAC review. Only a handful CAC’d and although there was disappointment, I informed the customer of why the coins didn’t work out and the education benefits made it all worth it to him. The customer received a better understanding of what to buy and how to grade. We also re-established a relationship with a customer who has since acquired very nice dollars for his set from us. He still buys from auction, but allows us to review all the lots ahead of time for him so he is getting the best value for his hard earned dollars. We do charge a modest fee for this service.

The Beautifully Toned Proof Indian Cent Buyer - I love original, pretty toned Indian Cents, however focus on the keyword “original”. Nice iridescently toned Indians take decades to acquire their beauty and to top it off, we’re talking about proofs! However, I have an awful time finding any in the market that I am 100% sure are original! I know that is sad and a shock, but there are many dealers that doctor coins, who have spent decades perfecting techniques to fool the grading services and retail buyers. If I handle a handful a year that are 100% original, I’m lucky. I see quite a few at auctions and in dealer cases that makes me suspicious. In all cases, I err on the side of caution and pass.

One collector recently told me that he sent in about 30 of his pretty toned Indian Cents, which were all acquired from well known companies, to CAC. Alas, only one stickered, wow that’s a shock! Again, the lesson here is don’t let your passion cause you to acquire coins that are a terrible value or compromise the liquidity for you or your heirs in the future. Be patient and continue the learning process with honest dealers, so tens of thousands of dollars later, you’re not wondering what went wrong!

The Pretty Toned Silver Type Buyer - He recently decided to have his collection CAC’d. We sent in 73 of his 19th Century type coins, all with varying degrees of bullseye and rainbow toning from PCGS and NGC. Many were auction purchases, but a fair amount were from dealers.

When I was previewing the coins, I noticed a lot of his dimes graded Proof-67 with bad surface hits, I couldn’t believe it! I told him that small Proof coins should not have marks, and any denomination that has abrasions on Proof surfaces should be graded substantially lower. Nice color can only forgive so much, especially on a Proof coin. Also, many of the coins were lightly cleaned and/or dipped and toned back. The surfaces at some point were tampered with. There were also quite a few coins that I thought had color added and were Q-tipped with dip to give it that bullseye toned appearance.

Remember, when an auction house sees your pattern of buying, they pigeonhole you to be notified on those coins. Also, when a dealer knows your pattern of buying, you will be fed, or should I say stuffed. In many instances, there will be no regard for the true technical nature of the grade. It will be, “Sell it and forget it!” Oh yeah, and about those 73 pretty toned coins we sent in to CAC for him. Only 11 of them CAC’d, a success rate of only 15%! I know for some dealers that’s good, but it should be much, much better.

In all of these recent cases, there is obviously still a lot to learn. Remember, high grade coins are around, you just need to focus on the cream of the crop. Why? So you can get real value for your money. Beware of dealers running your bids up on you if you attend the auction. I always stay at the back of the room so as to not publicize my buying for customers. I want to attend just to get a feel for how the sales are. I try to watch out for shill bidding and inordinately high reserves. Also, beware of dealers calling your attention to auction lots and then kindly helping you formulate bids. These coins could be their own pieces in the auction or coins that friends of theirs consigned and then they split the profit!

Many people buy in auction because they feel that under-bidders assure them of limited downside. That is wrong! If an under-bidder doesn’t really know what they are doing, they could be caught up in auction fever and guess what, that’s contagious! Plus, a dealer or two may focus on a coin because they feel it is an upgrade. They chase it for that reason and you have the fever, so you go right along and feel great to get it. This is when you need to step back and examine recent auction sales to see why this is dangerous. Look at the Gardner and Newman sales, some of those coins sold for great numbers. Yet, less than a year later those coins are being auctioned again and voila, they sell for substantially less! In some instances, less than half the original sale price! Why? Well, in many instances they are tainted. The perception is that they didn’t work for upgrade, so here they are again. Then they sell for substantially less. There’s more to consider, but let’s not write the whole book today.

So what do you do?

First, stop being a slave to auctions. Align yourself with not just knowledgeable, but honest dealers that truly work to deliver value. Go back to school and realize you don’t know what you think you know. When you open your mind and not just your wallet, the value for your money will improve. Also, you can still have the fun of bidding on auctions. Just pay a fair compensation to a dealer to review lots for you. This way the traps will be sprung on someone else. In the end, you will end up with less coins, but the quality of the coins you do buy, will be way better. And guess what, in many instances a good dealer can sell you great coins at a lot less money than what you’d have to pay in auction!


Daily Featured Coins

Let's wrap up today's Blog with a segment featuring quality duplicates from the Newtown Collection. GFRC customers have an opportunity to purchase rock solid coins without going through the tedious auction lot review and bidding process. GFRC simplifies the process by faciliating a straight forward Trading Desk.

Quality Coins from the Newtown Collection




Thank you for stopping by and hope that today's Blog was a worthwhile start to your numismatic day. Please consider a purchase this weekend towards enabling a vibrant GFRC collector community. I will be back tomorrow with more ramblings. Have a great weekend.




March 9, 2018

Amazing Consignments Arriving Daily

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

As today's headline indicates, GFRC is seeing an increasing amount of consignments across a broad range of existing and new consignors. The quality and value of individual coins is also climbing. When an opportunity presents itself, one must run and catch it. That was the case last evening where I worked into the early morning Friday hours to complete the forthcoming clients galleries. Before jumping into consignments, let's cover some other exciting news.

LSCC Members Receiving Gobrecht Journal Issue #131

I was thrilled to receive the latest Gobrecht Journal issue (#131) after the Leadership Team worked so diligently to prepare artwork for the 2018 front and back cover plus sourcing and writing top quality articles. Editor Bill Bugert is a publishing master and critical force for maintaining widespread attention on the study of Liberty Seated coinage. Here is the new 2018 cover art as prepared by LSCC graphic artist, Jim Macor. Quoting directly from Bill Bugert's description, "Jim Macor's eye catching cover design includes image of four mints that minted Liberty Seated coinage and the reverse of four Liberty Seated coins of the different mints including an 1877-CC Trade Dollar (courtesy Heritage), 1841-O Closed Bud Large O F-101 dime (Gerry Fortin), 1875 BF-2 double dime (John Frost) and 1856-S WB-2 half dollar (Bill Bugert)".

Also found in the March Gobrecth Journal mailing is an order form the the Premier LSCC Membership Medal. Trial strikes are taking place this week and the first four medal set, in specially designed Capitol Plastic holder, will be on display at the Whitman Baltimore show.

If not a club member, then you are missing out on some excellent reading. It is never too late to become an LSCC member as we always print a few extra copies for those individuals who join the club immediately after each Gobrecht Journal issue is published.


GFRC Consignment News

It gives me great pleasure to be featuring two new consignments in today's Blog. The first is an important single coin transfer from the Golden Harvest Collection. How many Liberty Seated quarter collectors would relish the opportunity to purchase an 1858-S quarter at the PCGS AU53 grade level? Now is your chance!

Golden Harvest Collection Consignment - March 8, 2018

Important 1858-S PCGS AU53 Seated Quarter


Then there is an amazing group of early type coins from a new GFRC friend that has chosen to be branded as the Montana Collection. I'm going to let the images speak for themselves as there is insufficient time to discuss each coin individually. Please send your FRoRs (First Right of Refusals) promptly as there will be serious demand for these pieces. Many will be awarded Gem quality ratings. This is the time when being a coin dealer is so much; opening a consignment shipment and viewing this level of quality. All I can say is congratulations to the Montana Collection consignor for assembling this group of early type coins.

Montana Collection Consignment - March 8, 2018

Early Type Eye Candy!






Cold Quarters Collection Consignment Announced!

An email arrived from yet another new GFRC friend requesting to become part of the consignment process. He is an avid Daily Blog reader and has decided to release some Liberty Seated quarters back into the numismatic market. After quick email exchanges, the following six coins are shipping immediately via USPS Overnight Express to the Venice office.

Seated 25c: 1852 NGC 63; 1866 Motto PCGS MS 64 CAC; 1866-S PCGS MS62 (OGH) ex-Eliasberg; 1876 PCGS MS61; 1877-CC PCGS MS62; 1880 NGC Proof 63 GOLD CAC housed in no line Fatty holder.

More is upcoming on this important consignment.


Feedback on Seth Godin's Blog: Your kitchen table.

Email feedback arrived in my Inbox concerning yesterday's Seth Godin blog entitled Your kitchen table. It really is time to take back our lives from the host of distracting electronic gadgets and mass marketing content that permeate daily life.

Hi Gerry,

Thank you for bringing up the topic about the takeover of our daily lives by electronic devices. Just last month I decided to install a timekeeping app on my phone to see how much screentime I'm spending each day in addition to time I'm already logging at the office, and I was appalled by my one-week stats. Makers of electronics will only make their products easier to use and quicker to access, so it really does take one's own discipline and initiative to break that habit. I for one used to love building models, but each work session requires some setup time and clean-up afterwards; scrolling a smartphone is admittedly much easier and takes no effort, so consequently I end up spending time reading meaningless topics, playing games, watching random videos, and end up with nothing to show for the precious time I've wasted away. Sensational clickbaits (they are certainly called "viral" for a good reason) and their attached commentary have taken enough marketshare of my time, and it's time to take it back!

Footnote; At GFRC, I do not believe in sending out emailed newsletters, like most dealers, and adding to your growing email clutter. Rather the Daily Blog is available to those who wish to stop by and read. The decision on what you read is personal and I respect this fact.


Global Financial News

Time for a quick look at commodity prices and Seeking Alpha headlines to close out today's Blog.

Crude oil has slipped to the $60 mark while gold is quoting at $1320 to start the day. Bitcoin continues to struggle at $8838 after the US SEC plans to become involved in regulating Bitcoin as just another investment instrument. Bitcoin exchanges must file 1099 forms when clients sell and take distributions. Gone is the anonymity provided by Bitcoin trading.

President Trump will meet with Kim Jong-un in the not to distance future towards solving the North Korea nuclear weapons issue. Truly amazing progress.

President Trump has agreed to an invitation from North Korean leader Kim Jong-un to meet to discuss denuclearization. Kim made the invitation for Trump to come to North Korea in a letter hand delivered by South Korea's national security adviser Chung Eui-yong, and Trump said he would meet by May, though the White House is now saying the time and place of the meeting is yet to be determined. Kim says he's prepared to suspend nuclear and missile tests in the meantime. South Korea's Kospi index finished the day up 1.1%, after showing off a 1.8% gain in earlier trading.

Let's not forget that the Bank of Japan continues to operate with negative interest rates and is still buying bonds. This is on top of European Central Bank also still in a QE mood. When does the creation of Dark Money stop?

As expected, the Bank of Japan's policy board voted to keep the benchmark interest rate at -0.1% and the yield on 10-year Japanese government bonds near 0%. The decisions by the central bank were made with inflation in Japan still comfortably below the BOJ's 2% target rate. During the press conference, Governor Haruhiko Kuroda said it wasn't the right time to discuss details of an easing exit. He also said there is a high chance that the 2% inflation target will be reached around fiscal year 2019.

The end of the iconic Toys "R" Us brand on US landscape has arrived.....

Unable to find a buyer or reach a restructuring deal with creditors, Toys "R" Us is planning to liquidate its U.S. stores. The toy chain went into Chapter 11 last September and obtained a $31B loan to keep stores open, but the holiday season didn't work out as well as planned. Hasbro and Mattel fell in after-hours trading on concerns over losing a key selling channel. Keep an eye on Target, a retailer seen as benefiting from a winding-down Toys "R" Us.


Closing the Daily Blog

Let's wrap up the Daily Blog at this point and hit the upload button. Thank you for visiting each day and checking my ramblings.

Please consider adding a nice numismatic item to your collection during the upcoming weekend. GFRC has a broad inventory and more new purchases and consignments will be appearing daily.




March 8, 2018

New Price List Offering are Today's Priority

Greetings and welcome to the Blog on a jetlagged early Thursday morning.

Yes, Thursday started early at 3:30 am after falling asleep on the bed Wednesday evening with clothes on. At least I had the presence of mind for reaching the bed before exhaustion set in. Or was it the glass of scotch during the dinner hour that took its toll? Jetlag and scotch at dinner are probably not a good combination for post dinner office work..... Regardless of the cause, I was able to ship out at least 10 packages and post a large lot of Liberty Seated dimes as a Blog preview before wrapping up the day.

John Frost, LSCC Educational Director, sent along images of 15" of snow at his Massachusetts home and wished to remind me of all the fun I was missing while in Florida. Thanks for the reminder John and appreciate the memories of back to back snow storms in Maine before becoming a snowbird. Here is one of the images that John sent along. Love the artistic black and white visual effect!

The Newtown Collection consignor writes the following from his get-a-way upstate NY home....

Morning Gerry,

You certainly did get an early start. I thought I was the early riser today. I’m at my place in NY, where we got just over 2 feet of fresh snow on top of a foot from last week. My power had been out for nearly a week, but it finally came back on yesterday. Fortunately I was able to keep the house warm with a couple of kerosene heaters and eventually repaired and restarted my portable generator to get my heat running. It’s about time I invest in an automatic standby generator for this place. I’ve had it with the snow!

Thanks to John Frost and Newtown for sharing the wintery conditions in the Northeast! Now I understand why Venice Florida real estate prices are climbing and new construction is every where.....


Seth Godin's Blog: Your kitchen table.

Reading Seth Godin's blog is always fun and often hits home on a personal basis. While in Shanghai, I limited time on the laptop to reading emails and not much else. Of course, there was the host of irrelavent US media "news items" that were calling for my attention. But after flying for nearly a day to be in Shanghai, the imperative was to get outside and enjoy all that China has to offer for people, food and culture. Therefore this blog, from Seth Godin, drives home the point of blocking out the multitude of online distractions that call out to us daily and ruin our precious time on earth...... Try building the discipline and self determination to avoid the growing amount of useless "news" towards a more mentally independent and fulfilling life.

Your kitchen table

You open the door and the vacuum cleaner salesperson comes in, and dumps a bag of trash in your living room.

Or a neighbor sneaks in the back door and uses a knife to put gouges on the kitchen table.

Or, through the window, someone starts spraying acid all over your bookshelf...

Why are you letting these folks into your house?

Your laptop and your phone work the same way. The reviews and the comments and the breaking news and the texts that you read are all coming directly into the place you live. If they're not making things better, why let them in?

No need to do it to yourself, no need to let others do it either.


GFRC New Purchases

Luckily, I was able to get the following New Purchases gallery prepared before crashing on Wednesday. Locating strictly original Liberty Seated dimes from the Civil War era takes patience. Those struck at the San Francisco mint are typically found in lower grades and with problematic strikes. So when I was approached with this lot for purchase, the decision process was brief. The 1867-S PCGS AU53 CAC dime is a separate purchase. The 1839-O F-101 PCGS AU55 and 1852-O PCGS EF45 both did CAC during a recent submission and are worthy of special consideration. The lovely 1823/2 PCGS VF35 Capped Bust dime is already on hold and lasted less than an hour on the price list.

All of these new offerings will be on the price list by early afternoon.

Strictly Original Dimes Worth Consideration





Global Financial News

Let's open the global news with a quick look at commodities though not much is happening today. Crude oil is back to $61/bbl while gold has eased to $1326. Bitcoin is back under the five figure mark at $9861 while the 10 year US Treasury bond is yielding 2.88%.

Japan and the United States are the latest countries to start clamping down on Cryptocurrencies.

Bitcoin has extended its fall below $10,000 amid fears of a regulatory clampdown in Japan and the U.S., the world's most active markets for digital assets. Japan's Financial Services Agency punished seven cryptocurrency exchanges, ordering two of them to suspend business, just hours after a warning from the SEC that many online trading platforms must register with the agency.

President Trump has managed to draw substantial attention to United States' shrinking steel and aluminum industries. Decades ago, the United States economy was energy dependent on the Middle East and could be held hostage by OPEC. That issue has been resolved and now the attention moves to other industries that supply critical raw materials for manufacturing and military consumption. The fear and global uproar is substantial....

More than 100 House Republicans have signed a letter to President Trump objecting to proposed tariffs on steel and aluminum imports as the White House prepares to formalize the measures this afternoon. Press Secretary Sarah Sander also announced there may be "potential carveouts" for Mexico, Canada and possibly other countries, which all will be based on "national security."

The United States continues to run a substantial trade deficit with China amidst heighten trade tensions.

China will respond "as necessary" in the event of a trade war with the U.S., according to Foreign Minister Wang Yi, cautioning that such a battle would harm all sides. The warning comes as China released its latest trade data, with exports up 44.5% and imports growing 6.3% in February. That left the country with a trade surplus of $33.74B, and a January-February trade surplus with the U.S. of $42.92B.

Though receiving little attention, the European Central Bank is still in a QE mode and buying any kind of bond it can find.

Attention today will focus on the ECB's monetary policy announcement and press conference from Mario Draghi. Some expect the central bank to drop a pledge to accelerate its bond purchases again if the economy deteriorates, while others believe the ECB will delay any such move until April amid volatile financial markets, slipping inflation and fears of a pending trade war. Purchases are currently due to run at €30B a month at least through September.

French Big Brother is gaining ground including unions.....

French companies will now have three years to erase their gender pay gaps or face possible fines. Under the plans, companies with more than 50 employees will be required to install special software hooked up directly to their payroll systems to monitor unjustified wage discrepancies. Unions will also have internal access to job role and seniority data.


Daily Featured Coins

The recent Tenafly Collection consignment has done well with many offerings sold and already shipped to happy customers. Let's feature the balance of Tenafly's available coins to close out today's Blog.

Quality Coins from the Tenafly Collection




Wow....this turned out to be a long edition of the Daily Blog due to jetlag and an early start to the day. Let's not get too spoiled! Thank you for stopping in and reading the ramblings. Time for a health walk as I've added a few lbs during the Shanghai adventure.

Please consider a purchase and help move coins and upgrading monies among members of the GFRC community.....




March 7, 2018

GFRC Venice Office Returns to Normal Operations

Greetings from Venice Florida and welcome to another edition of the Daily Blog.

Yes, another long China trip came to a successful conclusion on Tuesday evening and so pleased to be back home in Venice. A decision was made, when booking return flights, to avoid the potential for bad winter weather in Chicago and Newark entry points. Instead, the return arrival came through San Francisco and what a great decision that turned out to be. United flight UA858 Economy Plus was quite empty allowing me to enjoy two unoccupied ajacent seats, plus my own, for the 11+ hour flight. Stretching out across three seats and sleeping is an ideal way to travel. It had been years since last visiting the SFO airport and I enjoyed seeing the United Airlines terminal expansion and all that it had to offer for new restaurants and modern features. Hanging out in the UA Red Carpet lounge for 5 hours brought back memories of years of overseas travels in the semiconductor business. I would always return to USA through San Francisco and then spend a few days visiting clients in Silicon Valley before heading back east.

The UA last leg, to Tampa, was uneventful and Nelson Demille's newest book, The Panther, was an exceptional read. I arrived home before midnight and was able to catch up on a few emails, open the Montana Collection consignment shipment and finally garner some welcomed sleep in my own bed. It was great to be back home and in the Venice GFRC office.


GFRC Returns to Regular Operations

Restarting GFRC March sales is an imperative as no new purchases were posted to the price list since the beginning of the month. A large pile of deposited checks is sitting on my desk as a trigger for starting up packing and shipping operations once today's Blog is published. Customers are awaiting their USPS tracking number emails as a signal that orders are shipped. My apology for the shipping delays as GFRC still remains a one person operation.

Order rates, during the past 48 hours, have kicked in and I will be shipping those on a courtesy basis ahead of payment to any repeat customer. Your statisfaction is my imperative.

Again, please allow me to point out that any new orders, from repeat customers, will be immediately shipped ahead of payment. Everyone in the GFRC community has high integrity and I'm not worried about shipping coins ahead of payment. Therefore please consider a purchase.



GFRC Consignment News

Montana Collection Consignment

Like a little kid, I could not resist opening the first consigned lot from the Montana Collection consignor that arrived via USPS Overnight Express on Tuesday and was patiently waiting for my attention. All I could say at 12:30am was "Triple Wow!" This consignment is simply outstanding in terms of originality, conservative grading and overall eye appeal and will be such a pleasure to photograph and market in the upcoming days. There are many type coin highlights that are absolutely drop dead gorgeous with the non CAC approved coins probably needing an immediate submission. I am thoroughly impressed and GFRC customers will also share that enthusiasm once the client gallery is posted.

There are several impressive highlight as follows;

- 1806 Pointed 6 Stem PCGS VF35 CAC Capped Bust half that offers incredible eye appeal with gold and aquamarine toning. Why this piece is not CAC stickered gold is beyond me as VF35 appears to be most conservative.

- 1838 Reeded Edge PCGS AU53 half with impressive Wayte Raymond old album bullseye toning. The inner obverse rose bullseye is so well defined with golden outer ring.

- 1894-S Barber quarter offers impressive satiny cartwheel luster couple with blues, aquamarine and rose coloring. What a wonderful specimen!

I could go on but need to move to another topic....... Congratulations to the Montana Collection consignor in assembling such an impressive lot of early type coins!

Seal Beach Collection Consignment

While relaxing in the San Francisco airport yesterday, an email arrived from the Seal Beach Collection consignor announcing yet another subtantial consignment to restart GFRC March sales. Following is his itemized list and I'm sure that Daily Blog readers will be impressed and hungry for the moment these are posted as a client gallery. Please note the substantial number of CAC approved Liberty Seated halves and the appearance of an 1855/54 PCGS AU58 specimen and an 1873-CC No Arrows graded NGC AU55 CAC. First Right of Refusal (FRoR) requests are highly recommended as there will be multiple orders on these Seal Beach offerings.

Seated 25c: 1838 PCGS VF25 CAC; 1844 PCGS VF30 CAC

Seated 50c: 1848 PCGS AU55; 1848-O PCGS AU55; 1854 PCGS AU55 CAC; 1855/54 PCGS AU58; 1857 PCGS AU55 CAC; 1858-S PCGS AU53; 1860-S NGC AU58 CAC; 1867-S PCGS AU55 CAC; 1873-CC No Arrows NGC AU55 CAC

Kansas Collection Consignment

It has been awhile since the Kansas Collection consignor sent along a consignment. I've not yet open his USPS Priority box and will highlight this important offering in Thursday's Blog. Stay tuned here for some outstanding Liberty Seated quarters to be announced.


Global Financial News

Global equity markets are all in the red this morning due to concerns over a pending trade war. President Trump is moving forward with tariffs on steel and aluminum imports and the financial markets hate instability. Looking at commodities, crude oil is flat at $62/bbl while spot gold moved up to $1334 on US dollar weakness. Bitcoin is slightly over the five digit level at $10581. The 10 year Treasury bond yield is also flat at 2.85%

Let's take a look at Seeking Alpha headlines to close out today's Blog edition. We open with Gary Cohn resigning his post as top economic advisor in the Trump administration.

Widely viewed as a voice for Wall Street in the White House, Gary Cohn has announced his resignation as the top economic adviser to President Trump, fanning fears of protectionist tariffs and a full-blown trade war. Markets tumbled on the news overnight, while the dollar slumped. Trump tweeted he "will be making a decision soon" on replacing Cohn, who oversaw a major revamp of the U.S. tax code and pushed for a significant rewrite of financial rules.

NAFTA renegotiations are on a slow boat and I suspect one of the reasons that Trump is placing pressure on Canada and Mexico with tariff threats. Now Kushner is in Mexico to meet President Enrigque Pena Nieto.

Senior White House adviser Jared Kushner will visit Mexico today and meet President Enrique Pena Nieto, just a week after the two countries called off a meeting amid disagreements about border wall funding. The talks, which will also include a U.S. delegation of the State Department and National Security Council, will focus on immigration, security, trade and economics.

China's foreign exchange reserves fell in February for the first time in 13 months. Foreign reserves management is a key issue for Beijing Central government as it works to minimize overseas capital flight.

China's foreign exchange reserves fell $27B to $3.134T in February, posting their first decline in 13 months, as the yuan weakened against the U.S. dollar amid wild market swings. Capital flight was seen as a major risk for China at the start of 2017, but a combination of tighter capital controls and a faltering greenback helped the yuan stage a turnaround.

Saudi Arabia's crown prince Salman is conducting visits to Great Britain and the United States as his economic reforms continue.

Kicking off a tour in the West, Saudi Arabia's crown prince will land in the U.K. today, hoping to persuade British officials that his "shock" reforms have made his country a better place to invest. He's also scheduled to meet with President Trump on March 19. London and New York have long been the frontrunners to host the partial upcoming flotation of Saudi Aramco, although Hong Kong is emerging as an increasingly likely compromise.


Wrapping Up the Daily Blog

It is great to be back in the GFRC Venice office and writing a regular edition of the Daily Blog. We are beyond the normal publishing time so let's close here allowing me to get a shower in and a much needed health walk.

Thank you for the patience while I was traveling overseas and please check back frequently in the upcoming days for regular Blogs and a ton of new coins to be posted to the price lists. Wishing everyone a great day!




March 5, 2018

Premier LSCC Membership Medal Trial Strikes This Week!


Greetings on a Monday evening in Shanghai and welcome to the Daily Blog.

Working with limited internet bandwidth is always a challenging when visiting Shanghai. Sure I can work at the hotel and process images along with writing each Daily Blog edition. The chore is hiking over to a Starbucks by the Ritz Carlton hotel, ordering coffee or tea and securing access to their WiFi system for uploading coin images and today's Blog edition. Many more GFRC new images were prepared but I'll delay posting those until arriving into San Francisco airport on Tuesday morning. So today's content is a small consigned lot from the Burchs Creek Collection that is presently at CAC for evaluation.

Burchs Creek has been a long term GFRC supporter with multiple consignments. This offering is an especially exciting type coin lot plus an important 1878-CC Trade dollar. Strict originality is immediately evident across all four pieces. Fiery red cartwheel luster is eye catching and amazing on the 1828 1/2c and I hope CAC stickers this piece as definitely worthy. The 1840 Seated dollar is crusty original and accurately graded and has a shot for a green bean. The 1878-CC Trade dollar, being a key date with accurate grading, should also be in the running for approval. I should have results on Wednesday or Thursday of this week and will update the images according.

Burchs Creek Collection Consignment - March 5, 2018

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


1840 $1 PCGS EF40                                                                     1878-CC $1 PCGS EF40



Premier LSCC Membership Medals Trial Strikes

Jeff Ball, project coordinator for the Premier LSCC Membership Medals, contacted Dan Carr on Sunday. We have a commitment that the medal trial strikes will be done this week and shipped in time for testing with the Capital Plastic four piece medal holder that is also due to arrive soon. Our goal is to have the assembled unit on display at the Whitman Baltimore show club table and also presented at the Friday morning regional meeting. Excitement is building and I can't wait to hold the trial strike medals in my hands. What started as a brain storming session at the 2017 ANA Summer Seminar between myself, Len Augsburger and John Frost, is now becoming a reality.


Global Financial News

We open with week with a quick check of major commodities. Crude oil is flat at slightly over $61/bbl while the yellow precious metal is quoting at $1326. Bitcoin is rebounding a bit to $11513 while the 10 year Treasury yield is flat at 2.85%. Equity markets experienced a difficult Friday after President Trump followed through on plans to implement tariffs on steel and aluminum imports. Following are several Seeking Alpha headlines worth noting.

President Trump kept up pressure on trading partners over the weekend, threatening European automakers with a tax on imports if the EU retaliates against his plan to slap tariffs on metal imports. Canada, the biggest supplier of steel and aluminum to the U.S., also said it would retaliate if hit by the tariffs, while China declared it would defend its interests. U.S. stock index futures are mixed to start the week as fears of a trade war rumble on.

All eyes are on this week's Chinese National Party Congress and their expected actions to render President Xi Jinping the equivalency of a modern day emperor.

China's National People's Congress has officially kicked off with over 3,000 lawmakers descending on Beijing, where the country's rubber-stamp parliament is expected to eliminate the two-term limit for the presidency. Continuing a campaign to reduce risks in China's financial system, Premier Li Keqiang also set a target for economic growth for 2018 at "about 6.5%," a slight recalibration from last year's objective of "around 6.5% or higher if possible."

The International Energy Agency is recognizing the U.S. forthcoming energy independence and overall impact on global oil market for the upcoming five years.

"The U.S. is set to put its stamp on global oil markets for the next five years," the IEA said in its latest monthly report. Beyond that, however, the agency warned that oil supply could become tight unless investment in new production rebounds from historic declines in recent years. The forecast kick-starts the annual CERAWeek conference, a gathering of thousands of oil executives, traders, bankers and investors in Houston.


Daily Featured Coins

The GFRC business model and philosophy is to build up inventory positions in multiple product lines by purchasing one quality coin at a time. This strategy has been at work for the individual Capped Bust denominations. Today, we focus on eye appealing offerings from the Capped Bust dime price list. There has been steady progress in adding AU and Mint States offerings which are featured next. Please consider a purchase or even an offer and every coin is for sale as long a some profit is available.

Hand Selected Quality Capped Bust Dimes




That is a wrap for today's Daily Blog edition. The Shanghai weather has seen a dramatic change with windy conditions and temperature of only 10C. Time to walk back to the hotel and begin to pack for tomorrow taxi ride to the Pudong airport.

Thank you for visiting with me on a Monday morning. My Shanghai to San Francisco flight arrives at 8:30am Tuesday, therefore there will be no Blog tomorrow.

I will be back to normal on Wednesday morning and up early in the GFRC Venice office.




March 4, 2018

GFRC Doing Business in Shanghai

Greetings from Shanghai once again and welcome to another Daily Blog edition.

So what happen to the March 2 Blog? Let's just say that my body has lost some immunity to local cuisine and Saturday was a recovery date after an unpleasant overnight. On Friday, I took a long walk from the hotel to XinTianDi. XinTianDi is an upscale restaurant and shopping area in the French Quarter and is a popular tourist destination. The walk was about 40 minutes and thoroughly enjoyed being back in Shanghai. I had a late lunch consisting of a salmon salad and a bowl of seafood soup at Kabbs. Kabbs is an American restaurant and one of the more popular XinTianDi venues for ex-pats. Then a taxi was taken back to the hotel in anticipation of meeting with GFRC agent, Harry Zhang.

Harry arrived after his regular business day to retrieve coins for our Beijing client, "The Classic Commemorative New Life Collection" on the GFRC Open Set Registry. We wrapped up the business meeting and all was fine until Friday midnight and then the stomach distress took place. As a result, Saturday was a hotel recovery day and I was not in the mood to write a Blog. Presently feeling fine on early Sunday morning so let's get into today's Blog as there are a few items to share.


GFRC Consignment News

Montana Collection Consignment

I'm pleased and honored with the amount of new consignment proposals that are arriving including several from new individuals. The new consignors are heeding GFRC advice to consider selling duplicates and turning the value of those coins into new acquistions that will bring renewed satisfaction. For the past week, discussions have been ongoing with a customer that has decided to start pruning the herd. I've responded to a host of questions concerning the consignment and coin transfer process. On Monday, the individial will ship his first installment. We've selected the Montana Collection for branding this individual and his consigned coins.

Following are the contents of the first Montana Collection consignment that will arrive to the GFRC office on Wednesday.

Seated 5c: 1837 Large Date PCGS AU55; 1858-O PCGS MS64

Capped Bust 10c: 1831 NGC AU55

Seated 10c: 1884 NGC MS64

Seated 20c: 1875 PCGS AU58 CAC

Capped Bust 25c: 1818 PCGS AU50; 1838 PCGS EF45 CAC

Seated 25c: 1853 A&R NGC AU55

Barber 25c: 1894-S PCGS MS64

Draped Bust 50c 1806 PCGS VF35 CAC

Capped Bust 50c: 1808 O-109a NGC AU50; 1824 Lettered Edge PCGS EF45; 1838 RE PCGS AU53


Input on Potential Origin for 1865 F-102c "Proof Strike" Seated Dime

The Indiana Collection consignor sent along an email with his thoughts concerning the potential explanation for the 1865 F-102c 180 Rotated Reverse proof strikes. This rare variety recently gained renewed attention after selling the PCGS PF63 example from my collection. It was one of four known examples with the medal turn reverse alignment along with being struck with a heavily rusted obverse die. Following is the Indiana Collection consignor commentary.

I would offer what may be the most likely explanation. The 1865 proof dime with a mintage of 500 is scarce not rare in proof with high survivor rate as most mid 1860s proofs. Assuming a survival rate of 20 to 30 percent would leave about 100 to 150 coins. When 2 pairs of proof dies were shied and used for proofs I would assume the mint master used the best die first minting the majority before the dies clashing occurred. Although unknown, I assume a most likely occurrence of 400 from die 1 with the final 50 pieces struck with clashed dies. For whatever reason, maybe more orders appeared and the the mintage of proofs increased to 500 from 450 the previous year.The spare die in the meantime was exposed and rusted. It was use for the last run of 100. During that production run, the hammer die loosed for some reason, and was reset but at 180 degrees. If this happen toward the end, say the last 30, it would leave approximately 10 existent. Doubt the F-102c variety/die state had anything to do with a pattern strike or presentation piece. These are all guesses but seems like a plausible scenario.


St. Patrick's Day Sale Approaching Quickly!

A quick reminder that the GFRC St. Patrick's Day sales event is just 10 days away. The sale starts at midnight Thursday March 15 and will run through Sunday March 18 with 9:00 pm close. This event is an opportunity for consignors to reduce prices on slower moving lots. The usual terms are in order.

- For consignors to participate in the sale, items must be reduced by a minimum of 8% with more being welcomed. I will be reducing prices on aged GFRC inventory also.

- No lay-a-way terms as this is a cash and carry sale and appreciated check payment. Paypal and credit cards are +3%.

- Consignor price reductions must be submitted to GFRC by noon March 13.

- A special St. Patrick's Day sale banner, with countdown clock, will appear at the top of the For Sale page. Once the sale is active, access is via this banner.

The 2018 St. Patrick's Day sale will be challenging to administer as Gerry and Dan White are driving to the Whitman Baltimore show starting Tuesday March 20th. Purchased lots will be invoiced on Monday March 19th and shipped immediately after returning from the Baltimore show.


Daily Featured Coins

Online sales have been reasonable while in Shanghai and I'm pleased. Following are several strictly original Capped Bust halves to consider on a Sunday morning.

Quality Capped Bust Half Dollars




Thank you for checking back at the Daily Blog. My next edition should be available on Monday morning but there will be no Blog on Tuesday as traveling back to the States. It will be good to be back home and focusing pn new consignment arrivals.




March 1, 2018

March 2018 E-Gobrecht is Published

Greetings from Shanghai and welcome to the Daily Blog.

After years of commuting between China and Maine, Wednesday's trip to Shanghai was essentially placing the mind on auto pilot. Once arriving at the Tampa airport for a early morning Chicago flight, the balance of the travel day become uneventful and a much needed break from numismatics. Since Chinese Lunar New Year holiday wraps up March 1, many Chinese tourist were traveling back on the Shanghai bound flight. The UA 777 was full with nearly every passenger being Asian and returning home. 14 hours is about my limit for oveaseas flights and since so tightly packed, there was no chance to sleep in Economy Plus. Rather, I passed the time by taking in four movies. The favorite was Darkest Hour, the story of Winston Churchill during the Nazi invasion of France and the evacuation of 300,000 British soldiers from Dunkirk.

LSCC Publishes March 2018 E-Gobrecht Edition

As usual, the March 2018 E-Gobrecht issue arrived on schedule and is another noteworthy issue. A sincere thank you goes out to editor Bill Bugert for preparing yet another quality issue, and to the contributing authors for their volunteer support. This is a must read for fans of Liberty Seated coinage.

The March 2018 issue can be downloaded by clicking here or on the above image. Following is a summary of the content.

- The headline topic, "LSCC Regional Team in Action", opens the issue with club table images from the Knoxville, TN and the traditional Long Beach get together at the Rock Bottom Brewery.

- Len Augsbuger submits the Kagin auction catalog cover from upcoming Spring ANA sale. The cover art is based on 1871 Amazonian half dollar pattern.

- Craig Eberhart provides a detailed summary of Heritage Seated coinage sales at the recent Long Beach auction.

- The LSCC issues a call for nominations for the 2018 Hall of Fame selection process.

- Dennis Fortier provides a regional update and brings attention to the upcoming Whitman Baltimore show. Bill Bugert will have a display of 1843 cracked reverse varieties at the LSCC club table.

- Len Augsburger analyzes collecting approaches based on Heritage Long Beach auction results. Some individuals are hoarders while others take a more disciplined approach to buying and selling. This educational article is definitely worth reading.

- Greg Johnson is back with another Seated Quarter of the Month column and discusses the 1847/47 Double Die Reverse in the context of his ongoing Seated quarter die variety research.

- Benny Haimovitz wraps up the March E-Gobrecht with another Cracked, Shattered and Terminal column. This month's subject is the 1875-S In Wreath F-101 Seated dime with shattered reverse die. The prepared images are excellent illustrations of the multiple reverse die cracks and their severity.

Thank you to Bill Bugert and all the authors for sharing their numismatic expertise and ongoing educational commitment to LSCC club members !


1878-S Seated Half Dollar Celebrates 140th Birthday!

Bill Bugert sent along an email on Februrary 27 announcing the 140th anniversary of the striking of 1878-S half dollar. Since I had already written and published the month ending Blog, today's anniversay announcement is a bit belated but still very important. The anniversary announcement is the result of John Frost locating the Mint Archive report, via Newman Numismatic Portal, for San Francisco struck coinage during February 1878. There is a single $6000 entry for February 27 indicating that all 12,000 pieces were struck that day.


Global Financial News

Today's commodity report is taken from the March 1 editon of the Wall Street Breakfast. Crude oil and spot gold appear to be moving in unison lately. Crude oil moved down to $61.30 while Gold took a sizable drop to $1,312. The 10 year Treasury yield also eased slightly to 2.842%. What is the reason for the drop of gold price? Let's look at Seeking Alpha headlines. The US dollar index is moving upward based on strong economic growth projections and the possibility of four interest increases during 2018. A stronger dollar translate into lower gold prices.

Amid new Fed chief Jerome Powell's positive comments on the U.S. economy, the USD index reached a six-week high in early action Thursday. The market is now betting that the Fed will raise interest rates four times this year - one more hike than the prior expectation. The dollar index remains in the red for the year, however.

Otherwise Seeking Alpha headlines are quiet with little worth publishing.


GFRC Remains Open for Business

Let's close today's Blog with a reminder that GFRC remains open for business regardless of current Shanghai visit. Consignments are also requested.

Thank you for checking in.




February 27-28, 2018

Important 1865 "Proof Strike" Seated Dime Research Underway!

Greetings and welcome to the Daily Blog as February 2018 comes to an end.

Today's Blog edition will be the last before arriving in Shanghai on Thursday. Yes, it is time for another trans Pacific flight and the opportunity to meet with GFRC agent, Harry Zhang, and several important cutomers during the upcoming days. Being back in Shanghai is always fun other than the jetlag. I'm looking forward to walking the narrow sidewalks in the French quarter for a visit to the Yunzhou Antique Mall and LuGong coin center during the weekend. Maybe I will be adventurous and take a long health walk down to the Bund or XinTianDi too. Weekend temperatures will be in the high 50s which will feel cold for this Florida snowbird.

My plan is to write a few Blog reports from Shanghai with some cellphone photography. Otherwise, there will be limited numismatic content for the next few days as I scale back the daily writing and take a brief holiday. Please keep the GFRC coin orders coming via email as I will respond to those on a daily basis. Order shipments will restart on Wednesday March 7.


Important 1865 "Proof Strike" Seated Dime Research Underway!

The individual who purchased my 1865 F-102c 180 Rotated Reverse proof strike (PCGS PF63) is on a serious mission to determine its origin. This piece is one of four known with the medal turn reverse alignment and was struck with a heavily rusted obverse die. There are more questions than answers at this point and the buyer is actively researching online resources towards developing a few conclusions. Already, his study of Heritage and other online auction archives is revealing important clues. He sent along an update and following is his opening paragraph. The balance of this findings will remain private as I'm expecting an important Gobrecht Journal article to be published once the research is concluded.

Gerry, I've been spending sometime checking out a number of proof dimes sold by Heritage and others. One thing I notice very quickly is that not all of the proof dimes show the same level of die rust on the coins. My 1865 proof 67 has almost no signs of die rust. As I went through a number of proof dimes I found some that were almost free of die rust like mine and a number of dimes showing signs of very rusty dimes. This leads me to believe that these 1865 proof dimes were not all struck at the same time. Because of the differences in die rust I suspect there was considerable time between striking. The type of steel used will rust when exposed to humid conditions such as it would be in the summer in Philly. However, it wouldn't happen overnight.


Sarasota Coin Show Acquisition - Nicely Matched Barber Halves

In Saturday's Blog, I made mention of taking in a nice 10 piece lot of Barber halves as part of a transaction. Actually, it was a trade. What impressed me, with this lot, was the color uniformity and the consistent grade level along with each half being completely problem free. I suspected that the gallery would be impressive and was not disappointed when it came together last evening. Already, the emails are arriving for FRoR and pricing requests. I should be able to price these out today and have posted to the price list before heading to the Tampa airport.

Nicely Matched Barber Half Dollars





Global Financial News

Commodities are quiet to start Tuesday. Crude oil is holding the mid $63 level while gold remains in a tight trading range at $1334. Bitcoin has popped back over the $10,000 for the time being at $10,720. The United States 10 year Treasury bond yield is also steady at 2.87%.

There are a few noteworthy Seeking Alpha headlines to be aware of this morning. We start with Saudi Arabia and security and economic reforms underway by King Salman towards Vision 2030.

In a series of late-night decrees, Saudi Arabia's King Salman replaced top military leaders and assigned new younger officials in economic and security roles. A woman, Tamadur bint Youssef al-Ramah, was also named deputy minister of labor. The new appointments were seen by some analysts as an effort toward Crown Prince Mohammed bin Salman's Vision 2030, aimed at transforming the kingdom to make it less dependent on oil.

Interesting that BlackRock's Richard Turnill sees cryptocurrencies as a medium of exchange rather than an investment instrument. He is most likely correct.

Cryptocurrencies "should only be considered by those who can stomach potentially complete losses," according to the world's largest asset manager. "We don't see them becoming part of mainstream investment portfolios soon," said Richard Turnill, BlackRock's global chief investment strategist, but added that cryptos could potentially become "more widely used in the future as the markets mature."

Silicon Valley takes another legal step towards completely autonomous electric vehicles. No drivers required with remote operation from a control center. Appears to be nothing more than re-use of drone control technology.

A long-awaited win for Silicon Valley lobbyists. California has approved new rules that don't require human operators to sit behind the wheel of driverless cars, with the state's DMV issuing such permits from April 2. As the technology is developed the vehicles will still require constant supervision from "remote" drivers, or technicians who monitor car functions from a remote location.

And finally, it appears that large corporations will be in the front line on dealing with health care cost crisis in America. This is an important development to be watched.

Apple is launching a group of medical clinics called AC Wellness to deliver the "world's best healthcare experience" to its employees and their families, CNBC reports. A quietly published website,, said the Apple initiative will begin this spring. The news comes as Amazon announced an effort with Berkshire Hathaway and JPMorgan to improve the healthcare of their employees.


Daily Featured Coins

Let's stay with the Barber coinage theme for today's Daily Featured Coins module. GFRC continues to build up its Barber half dollar inventory while attempting to understand this market. Advice would be appreciated....

CAC Approved Barber Halves For Sale




So ends today's Blog edition. Again, I reminder that there will be no Blog on Wednesday and probably Thursday due to Shanghai trip. Please check back on Friday for a potential update. In the meantime, GFRC remains open for business via online orders.

Thank you for stopping by and wishing all readers a wonderful week.




February 26, 2018

GFRC February Sales are Record Breaking

Welcome to the Blog on a Monday morning and thank you for stopping by.

March arrives in several days and brings a host of events including a trip to Shanghai, the mailing of the LSCC's first 2018 Gobrecht Journal, the GFRC St. Patrick Day sale and of course, the Whitman Baltimore show. Life is exciting when fully engaged with a cause and I would want it no other way.

Sunday evening was spent in the packing and shipping department towards gaining a head start on Monday's workload. Regardless of the Sarasota show results, GFRC is enjoying an incredible sales month. Current February sales have exceeded those of January and are already 50% higher than any February since starting the GFRC business. Let's remember that January includes the FUN show and 31 calendar days. In the past, February was traditionally a slow sales month with no major shows and less calendar days. Demand for quality coins has been consistent throughout February with Sunday evening bringing the sale of the gorgeous 1864 PCGS AU53 CAC Seated dollar among other items. Collectors now understand the GFRC business model with consignors jumping on board the train that continues to gain momentum.


Sarasota Coin Show Purchases

In Saturday's Blog, the purchase of a nice lot of circulated Barber halves was announced. Those pieces were photographed yesterday along with the balance of Sarasota coin show purchases. Following are the incremental purchases. The group is minimal but the quality and eye appeal are readily apparent. I wish more could have been sourced from the Sarasota show but purchases were limited by what could be dugged out of dealer cases at competitive prices and secondly, those pieces that walked up to the GFRC table. If all goes to schedule today, the Barber lot should be posted in the Blog by late evening.

Sarasota Coin Show New Purchases

Carefully Selected Quality Offerings




GFRC Consignment Update

The balance of the Newtown and Tenafly Collection consignments reached the price list on Sunday and are immediately available. A CAC shipment will be made today that captures newly consigned coins that were itemized in Saturday's Blog along with several incremental pieces. Otherwise, I'm delaying further consignment arrivals until early next week since leaving for a short Shanghai visit on Wednesday.

Consignments continue to be solicited and encouraged. Feeding GFRC's expanding client demand requires a constant incoming flow of quality coins. Consignments that arrive to the GFRC office between March 5 and March 16 will be showcased on the Blog in time for the Whitman Baltimore show. April also brings the Georgia Numismatic Association show (Dalton Show) and Central States in Schaumburg, IL as the next major sales events for consigned coins.


Global Financial News

We open the week with movement in commodity prices and a forecast for the 10 year U.S. Treasury bond. Crude oil has regained its mojo and is quoting above $63/bbl while spot gold has also recovered to 1341/oz. Bitcoin, on the other hand, has sunk below the $10,000 level to $9681. The 10 year Treasury bond yield is back down to 2.86%

Seeking Alpha headlines open with a Morgan Stanley forecast that U.S. Treasury long bond yields will be stable in the near term. This position appears at odds with forecasted Federal Reserve interest rate increases on the short side and implies a flat yield curve appearing during 2018.

The selloff in Treasuries, that began in earnest in September and ramped up in January, is ending, according to Morgan Stanley, taking on Goldman Sachs and Warren Buffett with a bullish bond call. "We think the bell has tolled for the best of the bear market in longer-duration bonds," said the team led by Matthew Hornbach, global head of interest-rates strategy. "We like the long end."

Switzerland wants to be a crypto-nation?

Switzerland should launch a cryptocurrency version of the Swiss franc to gain a competitive lead in digital technologies, its stock exchange chairman, Romeo Lacher, told the FT. An "e-franc" backed by the Swiss central bank would boost the local economy as well as electronic payment systems. Earlier this year, Johann Schneider-Ammann, economics minister, said Switzerland wanted "to be the crypto-nation."

Communist Party leader, Xi Jinping, is working towards becoming a modern day emperor by eliminating term limits.

China's Communist Party has proposed eliminating a two-term constitutional cap on presidential terms, according to the official Xinhua News Agency, solidifying signs that Xi Jinping intends to stay in power indefinitely. Meanwhile, U.S. trade envoy Robert Lighthizer is scheduled to meet this week with senior Chinese economic adviser Liu He, as President Trump considers new tariffs on steel imports.

It is time to upgrade my old Samsung S4 cellphone and pleased to hear that Samsung has launched the S9 generation. Once back in Maine, the overdue upgrade will take place. Wireless charging will be most welcomed.

Samsung has launched its flagship S9 and S9+ smartphones, with improved cameras and AR capabilities to challenge the iPhone X. While the device itself doesn't look radically different than the Galaxy S8, it includes many new and improved features. Among them: Qualcomm's latest Snapdragon 845 processor, stereo speakers for a surround sound-like experience, wireless charging, a headphone jack and an upgraded smart assistant Bixby.


Daily Featured Coins

We open the week with a return to my favorite price list; Liberty Seated dimes. GFRC has the finest and broadest selection of Liberty Seated dimes in the market in the under $5000/coin market space.

Quality Liberty Seated Dimes To Consider




Another edition of the Daily Blog is completed and time for a quick shower and back into the packing and shipping department for the balance of the morning. Thank you for checking in each day with orders always appreciated. Have a great day and week.




February 25, 2018

Matt Yamatin Sets 2:32:57 Personal Record at Tokyo Marathon

Greetings again and welcome to the Blog on a peaceful Sunday morning.

We open with the story of goal setting and relentless training towards goal achievement. During the Yamatin's Christmas stay in Florida, Matt made it clear that breaking through the 2:30 hour marathon threshold was a near term life goal. He studied the training regiments of successful marathon athletes and diagnosed the reason he would hit the wall at about 35 km. It was training endurance. Training distances and sprints were modified to increase endurance. The results became evident at the Tokyo marathon last evening. Matt ran the first 20km with sub 18 minute 5km segments. His second 5km segment was a very fast 17:10. At the 35K mark, Matt once again faced the wall and ran through it with pain and anguish. Chikae captured a brief video of Matt at this point and the pain was clear on his face. The updated training regiment had an impact with Matt setting a new personal record of 2:32:57 at the Tokyo marathon. At 34 years old, he took a substantial step towards breaking through the 2:30 milestone. Knowing Matt, he WILL break through 2:30 during 2018.


Day 2 Sarasota Coin Show Report

Let's not put lipstick on a pig.... Sarasota Day 2 was a dud. Dan and I returned to the Sarasota show on Saturday with a positive attitude hoping for decent sales. By 2:30 pm, I pulled the plug and quickly packed inventory and called it a day. Sometimes in life, things don't work out as planned and best to just walk away and move on to the next chapter. Collector attendance was slow and those who did stop by the GFRC table fell into two categories; museum visitors and CDN Greysheet people. The museum vistors were impressed and grateful for opportunity to see beautifully original early type coins and thanked us. The CDN people did not appreciate (well maybe they did) what they were looking at and expected GFRC to sell quality type coins at CDN bid. They could not understand why we would not sell at the number on this piece of paper. It was the number!

On a positive note, the security staff was amazing. During the overnight, a U-haul rental van was parked directly in front of the Sarasota auditorium doors to block access. Dealers were warned during Saturday's 8:00 am opening that a check out tag was necessary to exit the bourse with coin inventory. If attempting to exit the bourse with coins and no check out tag, we would be arrested on the spot. We were told to have a full tank of gas and check tired pressure before leaving the show. We were instructed to not stop for a meal with coins in the car; simply use the drive through if hungry. Some may say all of this was excessive....I was very impressed with security's strict requirements and guidance. When GFRC left the auditorum, I first pulled up the Acura MDX with the the chief of security standing by and scanned the parking lot for any bad actors until the coins were in the vehicle and the Gerry Fortin and Dan White convoy drove away. That is indeed the effective behavior of a top notch security company.

On a further positive note, online sales were strong on Saturday to members of the GFRC community. The next GFRC event will be the Whitman Baltimore show and it will be great to be back at a venue with serious collectors.


PCGS Straight Grading Off Quality Coins is Impacting Hobby - Part 2

I expected yesterday's commentary to generated some feedback and it did. Before jumping into that topic, I would like to share a brief example of why the grading services are primarily a business entity requiring submissions to generate revenue and compensate staff. Collectors must always keep this point in mind.

Dan White had purchased a nice light gray and perfectly original 1908 Barber half dollar prior to the Sarasota show and was considering having it graded at Baltimore. I studied the piece and graded it AU53. There was obvious wear on the upper wings and the eagles tail feathers with breaks in the luster. Dan takes the piece to the ICG table for an opinion. At least AU58 and maybe mint state was the response.... Really? Second guessing myself, I asked a New England dealer that just happened to be at the GFRC table inspecting inventory for a grading opinion. Nice original coin, but no question AU was the response as wear was obvious. So did the senior ICG grader give a higher opinion to secure a submission? Maybe ICG rewards strictly original coins with higher net grades?

I'm not making this stuff up and can see why the average collector views numismatics as a complex challenge.

Fundamentally, the grading services have an unsustainable business model. They must continually expand the number of coins being graded or must raise fees per coin if volume is dropping. Over time, most coins worthy of a straight grade are indeed graded. Then what? Expansion into overseas markets is an alternative. But for the core United States market, there are near term approaches to maintain revenue; plus grades, variety attribution, special labels, crossover special events and of course gradeflation. Eventually, all of the marketed special services play out and the TPG still faces the uneventable challenge...a shrinking number of coins to grade. Are we surprised that PCGS is straight grading more marginal coins?

Ok, let's review some feedback. This comment is from a serious collector and individual with corporate background.

I guess I will have to start calling you Laura. Comments today are VERY similar to comments Sperber has been making for years. By and large I agree with them and, perhaps, it will be getting worse before it gets better. Collectors Universe reported a very bad quarter and its stock had a major drop. I don't own it so it did not impact me but the conference call mentioned dropping volumes.

Following are excepts from the Collectors Universe quarterly reporting conference call referenced by this collector.

From Seeking Alpha Feb 7 transcript: Joseph Orlando

Thank you and welcome to today’s second quarter conference call for fiscal 2018. I want to summarize the results for the quarter and then give you some commentary on the outlook going forward into our third fiscal quarter of the year. As is usually the case for our company due to the seasonality of the business, the second quarter proved to be a slower one overall.

Service revenues in the second quarter were down year-over-year to $14.1 million from $17.8 million, a 21% decline from a year ago. Our primary division showed a decline of 34% in our coin business, but an increase of 14% in our trading card and autograph business from the previous year. Our U.S. coin business experienced a slowdown in each major segment. Those three key areas are bulk, shows and vintage, with the latter two services closely related. In calendar 2017, the United States men had their slowest year in sales since 2007 and Collector interest or the lack thereof had a direct impact on our bulk service.

Returning to our overall business, gross profit margins were 54% for the quarter, which was down from 64% a year ago. Our operating income for Q2 was $0.2 million compared to $4.5 million the previous year. Income from continuing operations was $70,000 for the second quarter of fiscal 2018 or $0.01 per diluted share, down from $0.34 per share in the prior year. As many of you know, Collectors Universe moved into a new facility during the month of November, while a move of this magnitude created some disruption during Q2, the move went well and we are now completely settled into a facility that provides the proper layout in space for long-term growth.

Let's end this topic here for today. Tomorrow, I would like to discuss the GFRC business model and how it is being structured to preserve hobby integrity.


Daily Featured Coins

Continuing with Thursday'a feature coins section, following are United States CAC approved coins to consider. Following are examples of great CAC approved coins in GFRC inventory. Just click on this link to access the CAC price list.

United States Gold Denominations - CAC Approved Inventory







February 24, 2018

Matt Yamatin Running the Tokyo Marathon

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

There is much to discuss in the Saturday edition including Day 1 Sarasota coin show results, new consignment arrivals and our own Matt Yamatin attempting to break a personal 2:30 hour milestone at the Tokyo Marathon.

The Tokyo Marathon commences on Sunday February 25 at 9:10 am local time. Considering time zones, the race takes place on Satuday evening EST. Matt has been aggressively training since December and the Fortin family is quietly hoping that Matt can achieve his goal of breaking the 2:30 hour threshold. Since recent finish times in other competitive marathons were approximateluy at the 2:40 hour mark, Matt will be starting near the top of the field. Let's all wish Matt the best of luck as achieving this goal is very important to him.

Day 1 Sarasota Coin Show Review

What a difference a year makes at the Sarasota coin show in terms of security. During a February 2017 edition of the Daily Blog, I discussed the weak and essentially non existent security measures at the Sarasota coin show. Then the October 2017 event was held with similar issues. There were reports of the Sarasota police hanging out by the show entrance and spending times on their cellphones. Well, all of this changed dramatically today. A private security company was hired and these four individuals were one of the most professional security forces I've seen at a coin show. Seven cameras were overtly placed to monitor the bourse. The security staff walked and monitored the floor throughout the day and made a point of being seen. They even escorted dealers to their vehicles during departure (without coins). Strict enforcement of dealer badge protocol was in place. Finally, dealers were informed on Friday, that they will not be allowed to move inventory outside of the bourse floor (to their vehicles) without security escort. Each dealer will be given a form to complete and present to security to schedule their exit in a controlled manner.

Congratulations to Frank Cox, show promotor, for enabling a dramatic and positve security upgrade.

So how was Day 1 for GFRC? Results were below expectations but acceptable. GFRC sold in the mid four figures with sales scattered across all product lines. The bourse opened at 10:00 am with few collectors waiting to rush the floor. Collector flow began in ernest around 11:00 and lasted through 3:00 pm. Dan White and I enjoyed chatting with many individuals and expect a few to return tomorrow to purchase several four fiqure type coins. One dealer came to the GFRC table and stated that GFRC should receive a "blue ribbon" for having the finest and most comprehensive inventory at the Sarasota show. Frankly, I've become use to these types of compliments since GFRC is dominant at smaller regional shows. The challenge is locating those collectors who can appreciate the scope and premium quality of GFRC offerings. On a positive note, GFRC took in a quality Barber half dollar lot in trade for an 1881 Seated half dollar plus a few other smaller priced items. This 10 piece lot has uniform gray patina and all coins grading full VF. It really is an impressive lot for someone attempting a complete Dansco or Whitman date and mintmark set in better circulated grades. Following are the ten Barber half dollar dates;

Barber 50c: 1896-S VF; 1898-O choice original VF; 1899-O choice VF; 1904 choice VF; 1906-O choice VF; 1908 choice VF; 1908-O choice VF; 1912-S choice VF; 1912-D VF; 1915-D VF


PCGS Straight Grading Off Quality Coins is Impacting Hobby

At the Sarasota show, one of the local Heritage buyers was present and complimented GFRC on inventory quality. A conversation then ensued concerning the hobby and decreasing prices for certain series. The discussion focused in two areas; aging demographics and loose PCGS grading standards. Prices for mint state coins, Barbers for example, have been dropping due to lack of demand creation. Liberty Seated and Bust coinage pricing has been stable due to efforts by the collecting community to promote and maintain interest levels. The other core issue is the amount of problem coins "being made" by PCGS that end up being sold at Heritage auctions and feeding CoinFacts records. As pricing records drop, collector and dealer purchase price expectations also decrease.

At Long Beach, Heritage offered a huge group of Liberty Seated dollar with many being off quality. Following is commentary from a Daily Blog reader who monitored the auction.

Today at a Heritage auction, I saw something disturbing involving seated dollars. I selected to follow about a dozen and was surprised how cheap some went for. I didn't bother tracking the obviously played with dollars even if in regular slabs. I only tracked dollars that were nice for the grade and appeared not to be messed with to much. They graded from AU to MS 63. All but two were common dates or circulated proofs. I understand that a circulated proof is not worth as much as circulation strike coin but, the prices paid was at least 25% cheaper than what I would expect. The mint state 61 and 62 dollars also went 25 to 20% cheaper than I would expect. One of the scarce dated coins was a 1856 in an ANACS slab that went for the money a PCGS coin would sell for. It was a nice coin! Some of the other dates also went cheap..

I believe PCGS & NGC are slabbing a lot of EF and AU coins that have been played with (dipped at minimum) and those coins are dragging the prices down. I think for the short term, it is time to cherry pick the nicer coins that slip through and aren't noticed. There is to much junk on the market and people are buying them because they think they're getting a bargain. This won't work out for them in the long run and is hurting the pricing of truly nice coins.


GFRC Consignment News

I arrived back to the Venice office by 5:30 pm and noted the arrival of two new consignment lots. The USPS 2 Day Priority boxes were immediately opened to find four exciting coins that will be heading to CAC for review on Monday. Let's just say that this is really good stuff! Here are the details;

Half Cent: 1804 NGC MS62BN old holder, solid planchet with traces of red in the protected areas; 1828 NGC MS64RB old holder with fiery red cartwheel luster

Seated $1: 1840 PCGS EF40 choice with crusty original gray patina, a pleasure to add to GFRC inventory

Trade $1: 1878-CC PCGS EF40 and so choice for the grade with ligthly mirrored fields and ebony gray patina. I really like this piece!


Wrapping Up The Blog

Saturday morning brings another early start to the day and another drive to Sarasota. Therefore let's wrap up the Blog at this point. I will be back on Sunday morning with a Day 2 Sarasota show report and regular edition of the Blog. GFRC will not be exhibiting at the Sarasota coin show on Sunday. Rather, there is a substantial amount of shipping to prepare including another CAC submission and returning completed LSCC membership cards to Bill Bugert. There are residual coins from the Newtown and Tenafly Collections to post to the price lists along with photographing the Barber half dollar lot from the Sarasota show.

Tuesday is a preparation day for a very early Wednesday morning flight to Newark and then connecting to Shanghai. It is doubtful I will get much sleep on Tuesday evening and wish to have a slow paced day on Monday. A mental break between two numismatic events is warranted.

Thank you for stopping by.



February 23, 2018

Sarasota Coin Show Underway

Greetings and welcome to the Blog.

The Sarasota Coin Show is officially underway. Thursday setup was uneventful with little to purchase on the bourse floor. Actually, I only bought one coin, an 1871 half dime graded PCGS AU58 with lightly mirrored fields. That is it. Walking the bourse floor was disappointing as more dealers were offerings raw coins, Morgans and bullion. Quality type coins are no available at this regional show other than the GFRC table.

Speaking of the GFRC booth, there are eleven cases loaded with the best of my current inventory. GFRC has it all on display; Draped/Capped Bust, Liberty Seated, Barber coinage along with Morgans and United States gold. Hopefully Friday will bring robust attendance and sales.


GFRC New Purchases

Now that CAC results are back for the latest submission, I can freely post those pieces that were approved. Both are quality examples at their grade levels. There are more to come from this recently purchased lot including a strictly original run of Civil War San Francisco dates. How about a sneak preview for those? All were in the CAC submission and their lack of approval resulted in my sounding off in Thursday's Blog. Each is strictly original and housed in older blue label PCGS holder.

Seated 10c: 1856-S PCGS VF30; 1862-S PCGS VF30; 1863-S PCGS EF40; 1864-S PVGS VF30; 1865-S PCGS VF20

GFRC New Purchases - Liberty Seated Dimes

1839-O F-101 PCGS AU55 CAC                                                1852-O F-101 PCGS EF45 CAC


Dan White and I are also working on a 20 piece United States gold purchase and hope to have that lot finalized by early next week.


GFRC Consignment News

More collectors are emailing me concerning selling or consigning their duplicates or unloved pieces. I'm pleased to report that a strictly original and well struck 1878-CC PCGS EF40 Trade Dollar is in transit to the GFRC office. Several other consignments will arrive after my short trip overseas during middle of next week.


Ending the Blog

The Sarasota bourse floor opens at 8:00 am for dealers each morning. The drive from Venice to Sarasota takes place during morning rush hour so best to be out the dooor early. Therefore I'm planning for an early 7:15 am start to the day. This means no time to write a Blog on Friday morning so the default is to write on Thursday evening.

Let's end the Blog here as time for bed after another long day in the numismatic business. Take care and be well.




February 22, 2018

Sarasota Coin Show Arrives

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

Yes, it is Sarasota Coin show time with setup and wholesale trading taking place this afternoon. I'm excited about the event as a break from the GFRC office is certainly due. Wednesday brought a day long effort to photograph and process the latest Tenafly Collection consignment with a client gallery debut during the late evening hours. Consistent with Tenafly's late 1960s musical inclinations, the images were processed while listening to Jefferson Airplane's After Bathing at Baxter's. YouTube is an excellent source of full length albums and I was surprised to find an extended version of Baxter's with more studio jamming. Marty Balin's voice is outstanding on this recording along with Jorma Kaukonen on lead quitar and Jack Casady on bass. Many fans immediately think of Grace Slick when remembering the Airplane. However, I'm in the minority with constant attention to the Kaukonen/Casady rhythm section sound that quickly evolved into Hot Tuna.


The Tenafly Collection Consignment Client Gallery

Following is the cool lot of coins from the Tenafly Collection. We open with a most serious offering; a choice original 1849-O Liberty Seated quarter graded PCGS VF35. This date is rare with tiny mintage of 16,000 and few surviving. Every serious Seated quarter date and mintmark collector needs an example with few every reaching the market. Now an important opportunity arrives thanks to Tenafly. Then there are many Liberty Seated dimes to consider along with a wonderful run of early date CAC approved Liberty Seated halves. The 1805 Capped Bust quarter is the challenging Browning 1 (R4) die pairing and conservatively graded as PCGS G06. Sorry but all the Liberty Seated halves already have FRoRs with the 1841 and 1847 on hold and payment forthcoming.

Tenafly Collection Consignment - February 22, 2018








CAC is Very Conservative

Results arrived from the latest CAC submission and I must point out that CAC has become very conservative on what they will sticker. I won't go into much detail but results from the last several submissions have confirm this fact. Coins in PCGS old green holders that should have gone Gold sticker are only receiving Green but immediately being cracked out and upgraded. The coin market is seeing more divergence with PCGS being loose with gradeflation while CAC is tighening down. I'm seeing too many recently graded PCGS mint state coins with blemishes and hairlines. Luster appears to be the dominate grading parameter while faint hairlines are no big deal.

Please remember that for CAC approval, a coin must meet three criteria; accurate grading to a standard recognized by CAC, strict originality and above average eye appeal. Also remember that CAC review is a subjective evaluation. My understanding is that CAC has increased review staffing and this may be leading to a conservative approach to approvals.

So when asking me if a coin will CAC, my honest response is that I do not know in the current review environment. GFRC purchased coins that I thought would be an immediate CAC approval are not being stickered so best that I stop providing advice on this matter. In the meantime, I will continue to use the GFRC Quality Rating system to provide my assessment of quality characteristics. There are many choice original coins in the market that are selling without a premium due to lack of a CAC sticker.


Global Financial News

We open the day with little movement in commodity prices but keep close watch of the 10 year Treasury bond yield. Crude oil is at $61.44/bbl while spot gold eased to $1324.20. Bitcoin has also eased and is quoting at $10,251. The 10 year Treasury bond year is back to 2.93%.

With the forthcoming wave of electric vehicles, the idea of a gas tax to fund infrastructure improvments is now obsolete.

President Trump's Council of Economic Advisers has warned that taxing gasoline to pay for infrastructure improvements is an "imperfect" system. "The gas tax's current design isn't really a 21st century design - that the gas tax was set at levels that were needed to fund highways back in the days when fuel economy was really low and we didn't have electric cars," said Kevin Hassett, the council's chairman.

Venezuelan may be headed for complete authoritarian rule consistent with others like China, Cuba and Iran.

Venezuelan President Nicolas Maduro has proposed holding a "mega-election" after the opposition coalition said it would boycott the "rigged" presidential poll in April. He wants to add legislative, state and municipal votes to provide "democratic renewal." Should Maduro win those too, his United Socialist Party of Venezuela would control nearly every elected office in the country.

Is Amazon winning the retail market war with Walmart? My gut feel is that Walmart is too late into the online marketing game to be successful long term.

Amazon shares hit a new all-time high on Wednesday, surpassing $1,500 for the first time, with the e-commerce giant building more support from Wall Street after this week's lackluster earnings from rival Walmart. The stock's tear - it's up about 73% over the past year - leaves Amazon deadlocked with Microsoft as the third-largest American public company.

And Toys "R" Us is yet another victim of the brutal online retail war.

Toys "R" Us plans to close another 200 stores and lay off a significant portion of its corporate staff following a disappointing holiday sales season, WSJ reports. The latest wave - which follows 180 closures announced in January - would cut nearly in half the number of U.S. stores it had before its bankruptcy filing. Toymakers like JAKKS Pacific, Mattel and Hasbro are watching.


Daily Featured Coins

Continuing with Wednesday's feature coins section, following are larger denomination CAC approved coins to consider. Following are examples of great CAC approved coins in GFRC inventory. Just click on this link to access the CAC price list.

Larger Denominations - CAC Approved Inventory




This wraps up the February 22 Daily Blog edition. Time for a shower and then packing inventory, cases, lights, computer and all that stuff necessary for GFRC to operate at a coin show.

Tomorrow's Blog will be short due to an early drive to Sarasota for dealer opening time. Thank you for stopping by and also for the ongoing orders. February has been a record breaking sales month.




February 21, 2018

The Tenafly Collection Consignment Arrives

Greetings again and thank you for stopping by; it is time to write another edition of the Daily Blog.

Writing the Blog takes never ending effort. Each morning is a writing event with a cup of hot coffee. There are creative mornings or times when I'm full of energy and enjoy exploring a topic. Then there are other morning when writing the Blog is a chore. Creativity is low or I'm just not in the mood to write. What keeeps me going is persistence for a broader cause, specifically the numismatic hobby. Our hobby is known as the hobby of kings. FDR used his stamp collection as stress relief while president and dealing with a world at war. Closer to home, numismatics was my stress relief while working in the semiconductor industry. Liberty Seated dime research was essentially a massive adult puzzle that took me into a place free of stress and the possibility of discovery. Our hobby has served me well and there is a strong belief that it will serve others well during life's ups and downs.

This is why I arise before many, make a cup of hot coffee and continually write. Maybe I'm shoveling sand against the "technology" tide. But if not me, then who will persistently present the case for our wonderful hobby in the hope that it will be perpetuated for generations? I must do my share....

Sarasota Coin Show - February 23 - 25, 2018

Sarasota Coin Show Reminder

While the Long Beach show is kicking in, GFRC focus will be the local Sarasota show. Honestly, I looking forward to being back on a friendly bourse floor and exhibiting a host of great coins. Quality coins are meant to be displayed and enjoyed with a loupe and under a bright light. The Sarasota show will be a huge GFRC event with 11 cases and over 900 slabbed coins on display. I hope that many local friends and customers will make a point of stopping by and visiting with Dan White and Gerry. The Sarasota show is being held at the Sarasota Municipal Auditorium and opens at 10:00am on Friday, Saturday and Sunday.


GFRC Loses a Dear Friend

Life is special including all the friendships that occur along the journey. Tuesday brought a morning phone call from the Massachusetts Collection consignor informing me that his wonderful Margaret had quietly passed after a long battle with cancer. Margaret was a fighter and the epitome of positive thinking. She was incredibly supportive of her husband's numismatic hobby and he did all possible to support her during the brave battle. The Fortins extend their sincere condolences to Tom Coulombe and his family.


The Tenafly Collection Arrives; What a Pleasant Surprise!

It is with much relief and pleasure that I announce the arrival of the latest Tenafly Collection consignment. The shipment was delayed for several days in Los Angeles but finally found its way to Venice Florida. The anticipation was high as the box was opened late yesterday. Inside was a PCGS blue box loaded with 20 coins. The first pass through the box revealed some great coins that will be in demand by the GFRC clientelle. Following are the contents. Already, the FRoR are pouring in since the contents were posted as a Blog preview late Tuesday evening.

Tenafly Collection Consignment

Large 1c: 1817 15 Stars PCGS VF35 nice chocolate brown, well struck

Seated 5c: 1843 Doubled Date PCGS AU55 CAC pretty light gray patina

Capped Bust 10c: 1835 JR-4 PCGS AU53 Gorman Collection, crusty original

Seated 10c: 1848 F-101a PCGS EF45 CAC choice light gray; 1849 F-101 PCGS AU50 OGH frosty luster; 1856 Large Date F-104 NGC AU55 original charcoal gray; 1862 F-108 PCGS AU53 crusty original; 1868-S F-101 PCGS AU53 true problem free AU with gray patina; 1868-S F-101a PCGS VF30 strike doubled reverse, light gray; 1872-S NGC AU53 a semi key date and grade that deserves attention.

Barber 10c: 1905-O Micro O PCGS VF25 CAC choice original gray

Draped Bust 25c: PCGS G06 original gray

Seated 25c: 1849-O PCGS VF35 very scarce date, original gun metal gray-blue; 1859-S PCGS F12 choice original gray

Seated 50c: 1841 PCGS AU53 CAC choice original silver gray; 1842 Repunched Date WB-105 PCGS AU53 CAC choice original gray-gold; 1845 PCGS AU53 CAC choice original gray gold; 1846 Medium Date PCGS AU55 CAC Ex. Newman/Col. Green; 1847 PCGS AU53 CAC Ex. Newman/Col. Green; 1849-O PCGS AU58 CAC Newman;


Global Financial News

Let's have a quick look at commodities to start the day. Crude oil is flat at $61/bbl while spot gold lost some ground to $1331. Bitcoin is holding recent gains at nearly $11,000. The 10 year treasury yields sits at 2.88%. A quiet day for commodities and Seeking Alpha headlines in general.

Rare earth elements are critical for lithium ion and Electric Vehicle batteries. With China being a primary source for many of the rare earth metals, there is concern.

Apple is in talks to buy long-term supplies of cobalt directly from miners for the first time, seeking to procure "several thousand" metric tons of cobalt per year for a period of at least five years, Bloomberg reports. The strategy is designed to buffer Apple's reserves of the key lithium ion battery ingredient amid industry fears of a shortage driven by the electric vehicle boom.

In a similar vein, Toyota is trying to make electrified vehicles less dependent on rare-earth elements, a market essentially controlled by China. The carmaker intends to use more lanthanum and cerium in the magnets for its EV batteries as a replacement for neodymium, and will include the magnets in electric power-steering motors by the end of 2025.


Daily Featured Coins

A new customer, from New Hampshire, called on Tuesday to place his first order. He indicated being a die hard Rare Coins of New Hampshire customer and appreciated all that Warren Mills has done for the hobby. I agreed with him since also purchasing a fair number of Liberty Seated dimes for my collection from Warren. Then he pointed out that GFRC had an amazing 238 CAC approved coins in inventory and well above that of nearly all other dealers he was aware of. His recent visit to the monthly Nashua, NH Sunday coin show revealed three CAC approved coins across all dealer cases...a real disappointment.

Yes, it has taken several years to implement a strategy that favors CAC approved coins. The "coming out" of that strategy was launching CAC Only sets in the Open Registry at the end of 2017. Following are examples of great CAC approved coins in GFRC inventory. Just click on this link to access the CAC price list.

Small Denominations - CAC Approved Inventory




So ends the Wednesday February 21, 2018 edition of the Daily Blog. 8:00 am has arrived and time to start another busy day in the GFRC office. Yes, a health walk is in order before the Venice temperatures are too warm.

I will be back tomorrow with some Tenafly Collection images. Have a great day and please consider a GFRC purchase.




February 20, 2018

Strong Demand for Newtown Collection Offerings!

Greetings and welcome to the Blog on a Tuesday morning.

Monday was yet another one of those non stop busy days with the 5:30 pm scotch time on the lanai being the reward. Even then, the cellphone rang with another order. Immediately after dinner, it was several more hours loading Newtown Collection Liberty Seated halves onto the price list. Late in the day, the buyer of the Newtown 1838-O PCGS VF30 CAC Liberty Seated dime said it well in this email.

Hey Gerry,

Even though it really doesn't fit any sets that I'm doing (I'm primarily a Bust coinage collector), it just looks too nice to pass up...I'll take it for $625. I'll get a check in the mail first thing tomorrow.

Sorry for the delayed paced is right, it seems like the really good coins never last for long!

Indeed great coins are promptly selling off the GFRC 30 day price list. Why? Collectors are hungry for this level of quality especially when the coins are priced fairly for all involved. Yes, there are other retailers who do have access to great coins. I'm constantly benchmarking who has what in the numismatic business. However, some dealers make the sale process complicated with weekly actions and hidden reserves; others inflate the opening asking prices leading to a guessing game on fair market value. At GFRC, it is always straight talk and fair prices with no discounting for coins during their first 120 days. I do my utmost to price coins fairly with consignors always buying off on recommendations. Then the fun starts when receiving and honoring multiple FRoRs and the like.


GFRC Open Set Registry Update

Another outcome of quality coins arriving to the GFRC price list is illustrated next. Great coins provide ammunition for a host of Open Set Registry updates. I can't remember seeing such a broad range of updating across all Liberty Seated denominations (of course Double Dimes don't count, sorry John Frost!).

GFRC Open Set Registry Updates - February 19, 2018


GFRC Consignment News

Next up in the consignment queue is the Tenafly Collection consignment that should arrive today. Like Newtown, Tenafly has done some bank box cleaning and sent along a 20 piece lot. I'm not sure what is in the box and will be surprised later today.

Dialogue with other potential consignors is underway but after Tenafly, there are no imminent arrivals. Actually, this is ideal with the back to back Sarasota coin show and Shanghai trip during the upcoming two weeks. The consignment processing window will open in ernest effective March 7 in preparation for the Whitman Baltimore show.


Global Financial News

Seeking Alpha headlines are back after the Presidents Day holiday. Let's look at commodities to kick off this module. Crude oil is moving in a positive direction again at $62/bbl while spot gold remains in a tight trading range at $1341/oz. Bitcoin has found its footing and is again moving upward. at $11396. The U.S. 10 year Treasury yield is once again approaching the worrisome 3% threshold; current quote is 2.91%

Forthcoming United States debt concerns are being raised in today's Seeking Alpha headlines.

"Federal fiscal policy is entering uncharted territory," according to Goldman Sachs. "In the past, as the economy strengthens and the debt burden increases, Congress has responded by raising taxes and cutting spending. This time around, the opposite has occurred." If current fiscal policies are extended, the U.S. net interest expense relative to GDP will exceed the levels seen in the 1980s and early 1990s by 2027, and debt-to-GDP will probably be higher than 100%, "putting the U.S. in a worse fiscal position than the experience of the 1940s or 1990s."

Meanwhile, equity markets are positioned to move upward.

Several investment firms weighed in on the future for U.S. equities over the holiday weekend. While BlackRock upgraded its outlook for U.S. stocks on earnings momentum, Citi said there was "no equity bear market, but more corrections may be in sight" and Morgan Stanley stated the recent share slide was the "appetizer, not the main course." U.S. markets are now getting ready to reopen today, with stock futures in the red and the DJIA down over 200 points.

Saudi Arabia is exploring the use of nuclear energy for domestic power..... have we heard this story before from other neighbors?

The world's largest oil exporter, Saudi Arabia, is exploring the use of nuclear energy for domestic energy consumption as part of its transition away from an oil-based system. "We are looking at a number of countries that have nuclear technology for peaceful purposes... so that we can save the oil and export it in order to generate revenue," Foreign Minister Adel Al-Jubeir said at the Munich Security Conference.

A China and Unites States trade war is on the horizon.....

It's the latest trade tension escalation between the world's top two economies. China has threatened retaliation after the Trump administration received a green light to impose steep tariffs on aluminum and steel imports on national security grounds. "If the final decision from the U.S. hurts China's interests, we will definitely take necessary measures to protect our rights," said Wang Hejun, a senior official at China's Commerce Ministry.



Daily Featured Coins

A reminder that GFRC continues to expand it Liberty Seated dollar offerings. This is the final denomination to be tackled by the GFRC staff in terms of inventory building and marketing. Much progress is at hand since the beginning of the 2018 as is illustrated next.

Earlier Date Liberty Seated Dollars




Another Daily Blog edition is in the rear view mirror and time for a busy morning of packing and shipping orders. By end of day, I should have the balance of the Newtown Liberty Seated halves on the price list and will be preparing for the Tenafly Collection consignment arrival. During late day Wedneday, attention will shift to Sarasota coin show preparations.

Consignments Wanted!

Let's close the Blog with a reminder that consignments continue to be solicited. Please email with proposals or questions concerning what you might be considering.

Thank you so much for your GFRC support. I will be back tomorrow with yet another Blog edition.




February 19, 2018

Eye Catching Newtown Collection Arrives!

President's Day 2018 arrives and time for another edition of the Daily Blog. Welcome and thank you for stopping by.

Dan White and Gerry are excited that the Sarasota Florida coin show arrives this week.

What a different a year makes!. At the 2017 show, the GFRC's debut went as expected for a new dealer. We were assigned to the back of the auditorium but still managed to make an impression and enjoyed strong sales. For 2018, GFRC has stepped up and joined the ranks of "the big boys" with three tables at the immediate left of the entrance. I've mentioned having 10 cases of inventory in prior Blogs but it appears that Dan added an additional rental case to the tables. Therefore, we are going all out with 11 cases of inventory or over 900 quality coins. The display itself will be awesome and makes a statement concerning GFRC's commitment towards becoming one of the top dealers of early silver type and United States gold.

Here is a fairly crude Sarasota coin show bourse floor map with GFRC's table location. The bourse opens at 10:00am on Friday, Saturday and Sunday. Please plan to attend and visit GFRC first!

Sarasota Coin Show - GFRC Location with 11 Cases of Great Coins

February 23 - 25, 2018


Newtown Collection Consignment Rollout

The past weekend was quite exciting with 100% sell out of the Woodlands Collection Liberty Seated dime consignment and the Newtown Collection 1871-CC PCGS Fine 12 Seated quarter going on hold. I'm not one to smell the roses for too long. Attention immediately shifted towards processing images for the Newtown Liberty Seated dime and half dollar lots. If readers look carefully at the images, one can't help but notice an improvement in overall sharpness and color consistency. This fact is yet another continuous improvement idea by the GFRC photography staff.....

I became quite frustrated with TPG edge view holder lighting reflections on larger denomination silver coins and needed to solve this problem. Then an idea arrived to build a 3/4" standoff spacer for the photodome to increase the focal length between Nikon camera and the coin. The solution sounds complicated but implementation was as simple as cutting a hole in an old plastic cutting board the same diameter as the photodome. With the extra 3/4" of focal length, the reflections were eliminated with half dollars being imaged at a larger size and with improved resolution. The Newtown Collection client gallery is the first display done with the revised photography technique.

There are some awesome coins to be considered in the Newtown Collection consignment. We open with a perfectly original 1838-O Seated dime graded PCGS VF30 CAC with Saw Mill Run Collection pedigree. The 1839-O dime is the cobweb shattered reverse variety graded PCGS AU55. The dimes wrap up with a frosty original 1889 PCGS MS65 offering that is conservatively graded and an 1889-S Medium S residing in NGC MS63 holder.

Newtown Collection Consignment Part 2 - February 19, 2018

Liberty Seated Dime Offerings



Everyone should be paying special attention to the Newtown Liberty Seated halves. Don't let the lack of CAC stickers bother you. Many of these pieces were purchased from GFRC or other sources without CAC attempts. The overall quality of the Newtown consignment is above average and will please those working on advanced Seated half dollar collections. The 1850-O is graded PCGS AU55 with original frosty cartwheel luster. The 1851-O half is ex. Grey Soldier Collection and graded PCGS AU55 also. The 1852 is another frosty original offering graded PCGS AU53. Then the highlight of the consignment arrives, a spectacular 1855-O graded PCGS MS65 followed by a PCGS MS62 specimen and a third graded PCGS AU55 CAC. How about a very scarce1857-O half formerly from the Seal Beach Collection graded PCGS AU55? We end the lot with a spectacular 1879 half graded PCGS MS62. I'll state it again, many of this pieces have not been to CAC so don't let the lack of CAC stickers slow your interest level.....

Important Liberty Seated Half Dollar Consignment







Global Financial News

It appears that the Seeking Alpha staff has take President's Day off as a holiday. As a result, there is no content for this module today.


Daily Featured Coins

There is no question that GFRC is well known for handling some of the finest Liberty Seated coinage in collector grades. Just reviewing the February Daily Blogs should make that point clear. Not so well known is GFRC's growing Capped Bust inventory. The same painstaking approach for building up Liberty Seated inventory is also in play for Capped Bust offerings. Following is an example of GFRC's top quality Capped Bust quarter offerings that will be available at the Sarasota coin show this coming weekend. How often do you see any dealer offering this consistent level of quality and selection?

Top Quality Capped Bust Quarters to Consider




This has been a long Blog edition to start the week. Whew!

Please consider a purchase and thank you for taking time out of your busy day to read the Daily Blog. I will be back tomorrow with more ramblings.




February 18, 2018

What Were 1969 Woodstock Artists Paid?

Greetings on an early Sunday morning and welcome to the Daily Blog.

After another busy day in the GFRC, Saturday evening brought the opportunity to attend a pot luck dinner party at the Auburn Lakes condo clubhouse. Honestly, I felt like the youngest person at the event other than Diane. Our oldest condo association resident is Margaret at 92 and she attended. Margaret is out walking every day and is in excellent health.

At the Auburn Lakes events, Diane and I typically hang out with another "young" couple from Canada. Dan is a free spirit having travel the world while Denise is a health nut and holds yoga classes twice a week at the complex. Dan and I will typically gravitate to music as a conversation item. Last evening, Dan shares that Jimi Hendrix was only paid $18,000 for performing at Woodstock as the top act. Then it went downhill quickly with Joe Cocker, for example, receiving only $1,375 for his monumental With A Little Help From My Friends. Most interesting is that Blood, Sweat and Tears was the second headline act; I've never seen concert footage of that performance and a quick Google search revealed some footage that is unmemorable.

Here is the Woodstack artist and appearance payment list. Note that Santana performed for a tiny $750 and the Grateful Dead for $2,250. This is amazing insight into who were considered to be the top bands during early 1969.


GFRC New Purchases

Moving back to GFRC coins, a few new acquisitions arrived on Friday and will be heading to the price list today. How about a crusty original 1843-O dime graded PCGS VF30 with CAC approval to tease Liberty Seated dime collectors? Then there is a nicely toned 1839 Drapery half. Does PCGS AU55+ CAC = AU58 or better? All I know is that this lovely half is attractive and strictly original.

GFRC New Inventory Arrivals

      1843-O PCGS VF30 CAC Dime                                               1839 Drapery PCGS AU55+ CAC Half



Woodlands Collection Consignment Sellout?

As predicted in Saturday's Blog, all the Woodlands Collection Liberty Seated dimes are on hold other than the 1865 PCGS MS65 specimen. Then an email arrived late last evening with potential terms for purchasing the 1865 dime towards a 100% sellout. Discussions are underway with this collector.


Newtown Collection Consignment Update

The 1871-CC PCGS F12 and 1872-S PCGS VF25 Liberty Seated quarters are now on the price list. Saturday afternoon brought purchasing terms discussions between Newtown and the initial FRoR collector concerning the 1871-CC specimen. I hope to wrap those discussions today and mark this piece on hold.

The balance of the Newtown Collection has been photographed and today's primary goal is to complete image processing and loading the lot into the COIN database. If all goes to plan, I will have Liberty Seated dime and half dollar client galleries posted to the Daily Blog on a preview basis.


Next GFRC Sales Event: St. Patrick's Weekend Sales

Yes, it is time for GFRC to hold another sales event! GFRC has three sales event per year; St. Patricks, Christmas in August and Black Friday. Each event is an opportunity for consignors to reduce prices on slower moving lots. The next sales event will take place on St. Patrick's Day weekend and kicks off on Thursday March 15th midnight and runs until Sunday March 18th 9:00 pm. The usual rules will apply;

- To participate in the sale, items must be reduced by a minimum of 8% or more

- No lay-a-way terms as this is a cash and carry sale

- Price reductions must be submitted to GFRC by noon March 13.

This year's St. Patrick's Day sale will be a bit chaotic to administer as GFRC's Gerry and Dan are driving to the Whitman Baltimore show starting Monday March 19th. Purchased lots will be invoiced on Sunday March 18th and shipped the week after the Baltimore show.


Daily Featured Coins

GFRC is visiting Shanghai starting March 1 for a delivery of orders to Chinese clients. At the Sarasota Coin Show, I plan to wholesale out as many of the Gansu Collection coins as possible towards payment for his United States gold purchases. Following are a sampling of the Gansu Collection coins on GFRC price list. Please make me anything close to a reasonable wholesale offer and these will be accepted. The Gansu Collection consignors has made it clear that his coins are to be sold and not returned to China. Gansu Collection coins are now marked with sale prices on the price lists.

Gansu Collection Consignment - Please Make Offers




Thank you for stopping by at the Daily Blog on a Sunday morning. With no football on television, then how about spending time viewing the GFRC price lists? There are many great coins across numerous price lists seeking new homes. Some will sell at this week's Sarasota Coin Show so why not get a head start?

I will be in the GFRC office most of the day and definitely back on Monday morning with more ramblings! Have a great Sunday.




February 17, 2018

Woodlands Collection Consignment Nearly a Sellout

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

Today's Blog edition will be mostly bits and pieces as the hot coffee is not stimulating enough for exploring a topic at length. We open with a short piece from Seth Godin that is spot on concerning society's growing addiction to hand held devices. These devices allow faster access to information but don't necessarily make us smarter.

Quick or smart?

Your smartphone makes you quick, not smart.

Every time you pick up your quickphone, you stop inventing and begin transacting instead.

The flow of information and style of interaction rewards your quickness. It helps you make decisions in this moment. Which route to drive? Which restaurant to go to? Which email to respond to?

Transactions are important, no doubt. But when you spend your entire time doing them, what disappears?

We can’t day trade our way to the future we seek.

Applying the above to numismatic hobby, everyone has access to CoinFacts, PCGS and CAC populations reports on their cellphones. This information is readily available for a purchasing decision. One just reads the reports and TPG holder label to determine if the offer price is accurate leading to a purchase decision. But what about the coin itself? Is it properly graded? How is the strike and eye appeal? Those are the smart parts of any purchase decision that make us more knowledgeable collectors.


Woodlands Collection Consignment is Nearly a Sellout!

I'm pleased to report that the latest Woodlands Collection consignment places this individual into the top ranks of GFRC consignors. Other's include Seal Beach, Grey Soldier and Saw Mill Run for outstanding quality and well subscribed opening day sale rates. Inquiries and FRoRs during Friday day time were substantial. The consignment reached the price list last evening. Checking the 30 day price list will reveal that nearly all the Woodlands Collection Seated dime offerings are on hold. The 1838 and 1840 No Drapery dimes are also on FRoR with 90% probability of being sold. The 1887-S F-110 PCGS MS64+ CAC dime has two FRoR and will be gone by end of today. This leaves the 1865 PCGS MS65 dime as the remaining piece available. (Not attending the Collectorama coin show in Lakeland, Florida for buying was indeed a wise decision....)

Congratulations to the Woodlands Collection consignor for a truly special offering.


Newtown Collection Consignment is Next!

The Newtown Collection consignment is the most comprehensive to date from this advanced collector. There are Seated dimes, two Seated quarter key dates and a beautiful array of Liberty Seated half dollar duplicates forthcoming. With all that was going on Friday, I carved out time to photograph the dimes and quarters and prepare this brief client gallery display. Already, there are three FRoR on the 1871-CC PCGS F12 quarter. The Seated halves will be photographed today with consignment processing continuing throughout the weekend.

Newtown Collection Consignment Part 1 - February 17, 2018

Important Liberty Seated Quarter Dates

  1871-CC PCGS F12                                                                 1872-S PCGS VF25



More GFRC Consignments on the Way!

The Tenafly Collection consignor called on Friday to indicate that his 20 piece shipment is delayed at the Los Angeles central USPS terminal and we are hoping for the best.

Also the Kansas Collection consignor is back and will be shipping a top quality lot of mostly CAC approved Liberty Seated quarters. These will arrive later next week.


An Important GFRC New Purchase

What is so special about an 1850-O dime graded PCGS EF45 you might ask? Have you ever tried to locate a choice original example of this date/mintmark in EF or better? I have with considerable respect for any example that can be found. This is yet another underrated New Orleans date along with 1843-O, 1845-O and 1851-O is choice EF or better. This one already has two FRoF so enjoy the search for the next could be awhile.

GFRC New Purchase

1850-O F-107 PCGS EF45 CAC Dime


Three More LSCC New Members This Week

Within the February 14 Blog entitled LSCC Leadership Team at Work, I made mention of contacting Gerry Fortin if needing help with membership application. I'm most pleased to report that three individuals took that offer and contacted me towards becoming the latest members of the Liberty Seated Collectors Club.


Daily Featured Coins

Morgan toner dollars have gone quiet since late 2017. Now may just be the time to consider a purchase via offer. Yes, please visit the GFRC price list and, if a pretty Morgan dollars catches your eye, then please send me an offer. I might just accept if reasonable.

Morgn Toners with Lots of Eye Appeal




Ok, time for a health walk to start the day before central Florida temperatures become too warm. Yes, we are enjoying 80 degree day time highs for the foreseeable future.

Thank you for visting the Daily Blog and please consider a purchase for your hobby. Conversely, if you are tired of looking at certain coins in a collection, then please send them to me and I will do my best to convert to cash or Trading Desk credit.

Have a great weekend!




February 16, 2018

Amazing Woodland Liberty Seated Dimes Arrive!

Greetings and welcome to Gerry's Daily Blog on a peaceful Friday morning.

Another fast paced week is nearly done and I'm looking forward to a quiet day in the GFRC office rather than driving east to the Collectorama Show in Lakeland Florida. GFRC consignment arrivals are substantial and must be prepared before the Sarasota show (more on this in a bit).

Thursday morning brought more Auburn Lakes Condo Association board work, namely understanding our irrigation system and mold growth on concrete walkways and parking areas as a by-product. I learned about the many types of spray heads; directionals, full circle, bubblers and micro jets. Then there are issues with keeping the directional heads aimed properly while popping out of the ground and being hit by lawn mowing equipment when submerged. There have been ongoing complaints of spray heads watering walkways and I can understand why. Unless someone comes along to re-aim the directional head, it points in the wrong place. Our contractor performs a campus wide inspection once a month and will adjust the heads at that time.

Power washing is the quick solution to concrete mold growth but has a downside that is not discussed by power washing companies. After multiple power washings, the concrete surfaces becomes rough with increased colonization sites for mold growth. Finding the right strategy that includes minimizing irrigation overspray, interim control with Wet & Forget or MoldX followed by power washing every 3 year is the current thinking. And you thought that I just worked with coins all day?


Sarasota Coin Show Arrives February 23-25, 2018

It is difficult to believe that the second half of February has arrived and the Sarasota Coin Show takes place end of next week. The show is being held at the Sarasota Municipal Auditorium on Rt 41 near St, Armands Circle. GFRC will have a huge presence with three 8' tables and 10 cases of inventory that is consistent with the GFRC Whitman Baltimore show display. Dan White and I are looking forward to this event.


GFRC Consignment News

Woodlands Collection Consignment

I'm excited to report that the Woodlands Collection consignment is ready to post to the price list today! This consignment is a special opportunity for advanced Liberty Seated dime collectors to upgrade their date and mintmark set with noteworthy acquisitions. Every offered dime has a choice or gem GFRC quality rating with many being CAC approved. As collectors, we live for these moments when a substantial lot of exceptional dimes reach the market. Images were processed on Thursday evening and by 10:30 pm, the following client gallery was posted. There are many FRoR already and I expect more than half of this lot to be on hold by end of weekend.

Please sit back and enjoy viewing these special Liberty Seated dime offerings from the Woodlands Collection.

Woodlands Collection Consignment - February 16, 2018





Newtown Collection Consignment

The Newtown Collection USPS Express shipments arrived on schedule and have been unpacked. Wow! The Liberty Seated half dollar duplicates bring substantial eye appeal while the two Seated quarters are date rarity pieces. Photography will take place immediately after lunch with the 1871-CC and 1872-S Seated quarter images posted this evening as a preview.


Please Consign with GFRC for Peace of Mind

Please consider using GFRC for numismatic collection divestment rather than a major auction house. One of GFRC's consignors reported his recent experience with HA. He consigned a single coin through a well known dealer. Instead of being kitted in a regular coin show related auction, the piece was positioned as an internet auction and scheduled during a major holiday. The result? The coin performed poorly and the collector took a substantial loss on the coin. The learning? Gaining share of mind and predictable outcome at a large auction company requires a substantial collection. A substantial client for the major auction houses is probably $500,000 or more. In comparison, an important client for GFRC is $10,000 or more.

When selecting GFRC, consignors retain control of their coins and offer prices. As long as clients don't try to micro manage consignments and change prices every week, we will work as partners towards marketing and securing as close to retail as possible for your coins. If considering a numismatic divestment, then please do your homework for the consignment and sales process.

At GFRC, you will deal with only one person who is accountable for all services; variety attributions, pricing, photography, marketing and customer sales. Then there is the famous GFRC consignment check at the end of the process.....


Global Financial News

Last week's global equity market correction is already in the rear view mirror and fading quickly. Happy times appear to have returned! Commodities are also moving upward including gold being close to breakout territory and Bitcoin having recovered its footing. As the day starts, crude oil is back to $61/bbl while gold elevated to $1361 overnight. Bitcoin is just shy of the five digit mark at $9729. The 10 year Treasury bond is down slightly at 2.89%

Let's check Seeking Alpha headlines for potential explanations for upbeat commodities and equities. The operative word appears to be "recalibration" of investor expectations. Higher inflation is bullish for the precious metals.

The S&P 500 and the DJIA have now rallied for five consecutive sessions since falling into correction territory last week, with both indexes up 4% and on track for their biggest weekly percentage rise since November 2016. The Nasdaq is up over 5%, representing its best week since October 2014. "This is a year of recalibration. In January we recalibrated to higher earnings, and now we’re doing it for higher bond yields, which have been led by potentially higher inflation," said Leo Grohowski, chief investment officer of BNY Mellon Wealth Management.

Over the pond is Asia, Japan's BOJ head will be around for another five years and advocating for more financial easing (money printing). Equity markets love this possibility as newly fond money must be invested.

Governor Haruhiko Kuroda has been nominated to serve a second five-year term as head of the Bank of Japan. An advocate of bolder monetary easing - Masazumi Wakatabe - was also nominated as one of his deputies. The reappointment comes at a crucial time for Japanese and global markets, which have been rattled in recent weeks on expectations major central banks will whittle down their crisis-mode stimulus.

Japan also appears to be a safe haven for bitcoin operations while China and South Korea have been hostile.

Seeking to better safeguard investors, Japan's two cryptocurrency industry groups - the Japan Blockchain Association and the Japan Cryptocurrency Business Association - are planning to merge and form a self-regulating body after last month's $530M heist at Tokyo-based Coincheck. Bitcoin rose above $10,000 on Thursday for the first time in more than two weeks, as investors bought back the crypto following a 70% plunge from its all-time peak hit in mid-December.


Daily Featured Coins

Once again, inflation worries and upward pressure on spot gold prices should increase demand for larger denomination United States gold coins. How can you go wrong by building a date set of $20 Liberty and/or Saint Gauden gold pieces at current market levels.

GFRC $20 Gold Offerings




Thank you for visiting and reading through another day's ramblings. I'm off for early morning health walk followed by order packing and shipping. The balance of the day will be focused on the Woodlands and Newtown consignments. Please check the price lists later this afternoon for the rollout of the Woodlands Seated dimes. It should be exciting!