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Gerry's Daily Blog

Featured Coins of the Day

1831 N-7 NGC MS62BN CAC 1C

1861 PCGS MS66+ CAC 1C
Winesteven $3995

1946 NGC MS66 CAC 50C

1908-S PCGS EF45 CAC 1C
Twin Lakes $215

1888 PCGS AU58 CAC 3C
Twin Lakes $265SOLD

1909-D PCGS AU53 CAC 25C




January 16, 2021

Cumberland County's Superb Liberty Seated Half Dollar Collection Gallery Arrives!


Announcing Cumberland County Sale Kick-off Zoom Meeting



Greetings and welcome to a weekend Blog edition. Thanks for checking in on a regular basis.

After several weeks of diligent effort, I am pleased to be showcasing the entire image portion of the Cumberland County Superb Liberty Seated Half Dollar Collection Sale. The online catalog will debut later this afternoon with complete lot descriptions and reserve prices. This latest GFRC Online Auctions event will be open for bidding on January 23 9:00 PM ET and closes on January 30 9:00 PM ET.


Announcing Cumberland County Sale Kick-off Zoom Meeting

Gerry & Len will host a Zoom session, Wednesday, January 20 from 8pm-9pm Eastern time. We’ll review the Cumberland consignment and discuss a few of our favorite pieces. As all of you are aware, this time is usually reserved on Gerry’s calendar for an evening libation or two, so everyone is encouraged to pour their favorite drink before we get started. Gerry will have the coins on hand and will be ready to answer any questions that require in-hand review. See you there!

The Zoom link is https://wustl.zoom.us/j/5086565637.


Cumberland County's Superb Liberty Seated Half Dollar Collection Gallery Arrives!

Handling a complete set of Liberty Seated half dollars, including major varieties and the two Scott Restrikes, has been an incredible event. The learning opportunities abound when photographing, attributing, and studying each of these dates in the set. There is a sense of GFRC pride when handling the first 1878-S Seated half. This date is a true rarity and a dream coin for many Liberty Seated coinage collectors.

The Cumberland County Collection brings grade consistency. Most dates are found in the AU grades with some variance at the EF and Mint State levels. Eye appeal and luster are the common theme across the collection. The Cumberland County husband and wife team made a point of adding the major varieties to their collection. Several are true rarities including the finest graded 1875-S Micro S, the wonderful 1876 Lg/Sm Date, and the 1877/6. Don't overlook the popular 1846 6/Horizontal 6 variety as a charming PCGS AU53 CAC specimen is offered.

This image gallery also captures some gems. The 1852-O PCGS AU55 has been assigned a Gem quality rating and rivals the Seal Beach and Saw Mill Run specimens in the GFRC Sales Archive. The 1872-CC PCGS EF40 CAC specimen is perfect for the grade and will be an "affordable" acquisition that will please the new owner for years to come.

As with any major collection, there are marquee or truly special pieces. The Cumberland County Collection is no different. The 1871-CC PCGS AU50 CAC half is an amazing offering that will bring well above the guides. Don't overlook the 1875-CC WB-1 half due to a lack of CAC green bean. I love this piece for its originality, sharp luster, and die variety rarity. Superb eye appeal comes with the 1886 PCGS MS63 CAC half.

Considerable time was spent during the reserve price setting process. This was an interactive process with the consignors that included CoinFacts price guide, CAC CDN guide, and GFRC Sales Archive research. GFRC quality ratings were also an important parameter that resulted in market competitive reserves. Bottomline, all offerings have been reserved at prices that should enable a high initial sales rate.

Whether a fan of Liberty Seated Half Dollar or not, I hope that you will brew a cup of coffee and spend time viewing the individual pieces in this superb collection. A collection of this magnitude infrequently comes to market. This event is an opporunity for the GFRC community to study and appreciate the denomination, the rare dates, and major varieties.


Cumberland County's Superb Liberty Seated Half Dollar Collection Sale Gallery

1878-S WB-1 PCGS VG08 

1861 CSA Restrike PCGS AU58 CAC                                           1861 Scott Restrike PCGS AU58      


1870-CC WB-5 PCGS EF40                                                   1871-CC WB-2 PCGS AU50 CAC


  1872-CC WB-9 PCGS EF40 CAC                                            1873-CC No Arrows WB-1 PCGS EF45


  1873-CC Arrows WB-7 PCGS EF45                                           1874-CC Arrows WB-3 PCGS EF45


1875-CC WB-1 PCGS AU58                                                       1876-CC WB-25 PCGS MS63  


1878-CC WB-1 PCGS AU58                                                            1886 PCGS MS63 CAC     


  1839 No Drap WB-3 PCGS AU55 CAC                1839 Drap WB-5 NGC AU55                      1840(O) Rev38 NGC EF45 CAC         


          1840 Rev39 WB-10 PCGS AU58                       1840-O WB-7 NGC AU55                 1840-O BB DCr WB-9 PCGS EF40 CAC   


       1841 WB-1 PCGS AU58 CAC                    1841-O WB-3 PCGS AU55 CAC                 1841-O BB DCr WB-2 PCGS EF40 


              1842 WB-8 PCGS AU58 CAC                  1842 Med Date WB-12 NGC AU53              1842 Sm Date WB-7 PCGS AU55           


               1842-O Rev42 WB-8 PCGS AU50                 1842-O Rev39 WB-2 PCGS EF45                     1843 WB-12NGC MS64                          


                  1843-O WB-16 PCGS EF45                          1844 WB-15 PCGS EF45                             1844-O WB-9 PCGS AU53                    


        1844-O Dld Date WB-22 PCGS AU50                    1845 WB-2 PCGS EF45                          1845-O RPD WB-1 PCGS AU53               


         1845-O WB-14 PCGS EF45                1845-O DDD WB-15 PCGS AU55 OGH         1846 Med Date WB-8 PCGS AU58 CAC


1846 6/Horiz 6 WB-7 PCGS AU53 CAC              1846 Tall Date PCGS EF45 CAC              1846-O Med Date WB-4 PCGS EF45 


1846-O Tall Date WB-24 PCGS EF45                     1847 WB-4 NGC MS62                                 1847/6 WB-9 PCGS EF45           


         1847-O WB-5 NGC AU58                              1848 WB-3 PCGS EF45                             1848-O WB-9 PCGS AU53        


              1849 WB-12 NGC AU58                            1849 RPD WB-6 PCGS AU50                   1849-O WB-14 PCGS AU53 CAC      


  1850 WB-4 NGC AU58                          1850-O WB-13 PCGS AU50 CAC                      1851 WB-5 NGC AU55     


 1851-O WB-2 PCGS EF45 CAC                        1852 WB-1 PCGS EF45                               1852-O WB-1 PCGS AU55      


          1853 A&R PCGS AU58                         1853-O A&R WB-8 PCGS AU58                      1854 Arrows PCGS AU58         


 1854-O Arrows WB-5 PCGS AU55 CAC                  1855 Arrows NGC AU55                           1855/54 Arrows PCGS AU55            


  1855-O Arrows WB-15 PCGS AU53               1855-S Arrows WB-1 PCGS EF45                      1856 PCGS AU55 CAC                


   1856-O WB-17 PCGS AU55                            1857 PCGS AU58 CAC                             1857-O WB-2 PCGS AU55     


       1857-S WB-4 PCGS AU55                               1858 PCGS AU55                               1858-O WB-7 PCGS AU55 CAC  


          1858-S WB-14 PCGS AU55                                 1859 PCGS AU55                          1859-O WB-15 PCGS AU50 GOLD CAC


        1859-S WB-6 PCGS AU50                          1860 PCGS AU55 OGH CAC                    1860-O WB-11 PCGS AU53 CAC


  1860-S WB-2 PCGS AU58 CAC                             1861 PCGS MS62                              1861-O Union W-01 PCGS MS62


1861-S WB-9 PCGS AU55                                 1862 PCGS AU50                                 1862-S WB-1 PCGS AU55


   1863 PCGS AU55                                         1863 PCGS PR45                                1863-S WB-4 PCGS MS61


 1864 PCGS AU53                                     1864-S WB-1 PCGS EF45                                1865 PCGS EF45     


               1865 WB-102 PCGS AU53                           1865-S WB-1 PCGS AU55                 1866-S WB-1 No Motto PCGS EF45      


     1866 Motto PCGS AU58                     1866-S Motto WB-2 PCGS EF45                            1867 NGC MS63            


1867-S WB-1 PCGS EF40 CAC                     1867-S WB-10 PCGS AU58                                 1868 PCGS AU58             


             1868-S WB-4 PCGS EF45                                 1869 PCGS AU55                               1869-S WB-3 PCGS EF45 CAC          


   1870 PCGS AU53                                    1870-S WB-1 PCGS AU53                              1871 PCGS AU55 CAC 


1871-S PCGS AU53                                     1872 PCGS AU53 CAC                                  1872-S PCGS EF40    


  1873 NA Closed 3 PCGS AU50                     1873 NA Open 3 PCGS VF30                        1873 Arrows PCGS AU53         


                 1873-S Arrows WB-1 PCGS EF45                     1874 Arrows PCGS AU55               1874-CC Railroad Rev WB-3a PCGS VF20         


        1874-S Arrows WB-3 PCGS AU58                           1875 PCGS AU55                           1875-S Micro S WB-19 PCGS EF45         


                   1875-S PCGS MS63                                 1876 PCGS AU58 CAC                           1876 Lg/Sm Date PCGS EF45         


        1876-S PCGS AU55                                 1877 PCGS AU55 CAC                                  1877/6 PCGS AU50         


   1877-CC WB-9 PCGS EF45                          1877-S WB-14 PCGS AU55                              1878 PCGS AU53              


  1878 PCGS PR64CAM CAC                            1879 PCGS EF45 CAC                                   1879 PCGS PR55             


     1881 PCGS AU58                                         1882 PCGS AU55                                        1883 PCGS PR55        


   1883 PCGS AU55                                         1884 PCGS AU53                                          1885 NGC MS62     


         1887 PCGS AU50                                   1888 PCGS AU55 CAC                                    1889 PCGS AU55          


       1890 PCGS AU53                                    1891 PCGS AU55 CAC                                    1891 NGC PF61            



Wrapping Up The Blog

Another substantial shipping day is an hand and best to end the Blog at this point. Yes, I will be in the Venice office the entire day merging Cumberland lot descriptions into the COIN database and publishing the entire online catalog. Afterwards, attention shift to a host of new purchases and consignments that have been sitting quietly while Cumberland preparations were underway. Recovery efforts for the 30 Day Price List start this afternoon.

Thanks again for visiting with GFRC on a daily basis.

On a somber note, the Covid-19 pandemic continues to spread throughout the United States. Even our home state of Maine has seen a dramatic increase in cases. The vaccine rollout will be limited by manufacturing supply. Now more than ever, everyone must be viligant and stay the course of self isolation and best practices when outside of a home.




January 15, 2021

Preparing for Many GFRC Announcements


Happy Birthday Wish to Matt Yamatin


Greetings on a Friday morning and welcome to another Blog edition. A long weekend is on the horizon.


Happy Birthday Wish to Matt Yamatin

Let's open today's Blog edition with a Happy Birthday wish to Matt Yamatin. The All-American athlete and all around great-guy turns 37 today.


Preparing for Many GFRC Announcements

The forthcoming week's Blog editions will be excited as there are a host of announcements in the pipeline. Following are previews.

- Saturday morning brings a complete posting of the Cumberland County Superb Liberty Seated Half Dollar Collection Sale gallery. GFRC will be conducting a special Zoom meeting event in conjunction with the sale. Stay tuned for this announcment.

- A new upgrade to the Gerry Fortin Liberty Seated Dime Collection shipped via Express mail yesterday and hopefully will be delivered today. I've waited several decades for the right specimen to appear for this upgrade.

- GFRC has just received a fantastic ten piece Flowing Hair and Draped Bust dollar collection consignment with most pieces being CAC approved. The offerings start with two 1795 Flowing Hair dollars; 3 Leaves PCGS VF25 CAC and 1795 Silver Plug PCGS F15. The first Draped Bust date is an incredible 1799 B-10 BB-163 PCGS AU58+ CAC....


Seth Godin Blogpost: The difficult choice of disappointment

I could not pass up the opportunity to share today's Seth Godin blogpost. This short piece captures ongoing challenges while growing the GFRC business. It is a sobering post but addresses the reality of a small business moving through transitions.

When starting the GFRC business back in 2014, I was selling lower priced Liberty Seated dimes, contemporary counterfeits, love tokens, and Morgan dollars. With time the consignment business evolved into higher priced coins across all Liberty Seated denominations. U.S. gold was added as a product line after connecting with Dan White. The GFRC website went through a host of upgrades, thanks to Matt Yamatin, culminating with the new GFRC Online Auctions service. Throughout this start-up's evolution, I've worked hard to maintain consignment support for lower priced coins and those individuals who supported GFRC during the early years. Some relationships no longer made sense as was the case with Jim Poston and an eBay presence. Jim Poston now has his own eBay store as there was not enough margin on Jim's coin to be posted to the GFRC price list. There are many $50-$100 coins accumulating in the GFRC safe with the best of intentions. At some point, those must be dispositioned.

The difficult choice of disappointment

All forward motion disappoints someone.

If you serve one audience, you’ve let another down. One focus means that something else got ignored. If you create something scarce, someone won’t get their hands on it.

The very act of creation means that it won’t be the ideal solution for everyone.

On the other hand, with certainty, we know that doing nothing disappoints an even larger group of people.

The opportunity is to find someone to delight and to embrace the fact that someone is not everyone.


Within Feet of the Cumberland County Final Line

Today brings the last day for the Cumberland County auction sale preparations. Will we hit the promised Saturday online catalog debut? Yes, but it will be close. There are still twelve more images to process and post to the client gallery. These will be wrapped up today leading to a fantastic gallery display in Saturday morning's Blog edition.

Once the last Cumberland County images are posted, Len will be in a position to close out the online catalog descriptions.

Immediately after today's Blog is published, I will wrap up recommended reserve prices for the balance of the collection and issue to the Cumberland County clients. By 9:00 PM last evening, sleep was necessary to recharge tired batteries.

Saturday brings the configuring of the COIN database with all inputs. There will be an upload leading to the online catalog appearing at the Cumberland County auction banner. The scrollable table at the upper right of the Daily Blog page will disappear.


Global Financial News

I've come to realize that the best approach for happiness is to stay away from controversial topics and the online "news" media. When taking this approach to life, the importance of daily equity market movements diminishes. The best investments (safety, reasonable returns) are those done on a long term basis. Watching and reacting to daily market and commodity price movements might be entertaining in the short term but quickly grows old. Life brings much more than watching trendcharts.

At this point, the Global Financial News segment is mostly focused on the longer term horizon. Are we moving into bubbles or potential train wreck situations will be the emphasis. Sure, I will continue to post the morning market futures and stay connected to commodity pricing movements as they provide a broad snapshot of the state of the global economy. However, daily attempts by Seeking Alpha writers to explain market movements brings little interest.

Following are today's morning market futures courtesy of Seeking Alpha. Global markets are mostly down as we close the week.

In Asia, Japan -0.6%. Hong Kong +0.3%. China flat. India -1.1%.

In Europe, at midday, London -0.8%. Paris -1%. Frankfurt -0.6%.

Futures at 6:20, Dow -0.5%. S&P -0.5%. Nasdaq -0.3%.

Crude oil's slow upward trend is taking a breather today with the quote standing at $52.73/bbl. Nothing in life moves in a perfectly straight line.

Spot gold is holding at the $1852/oz level with the U.S. Mint running out of gold bullion for 2021 eagle coinage.

The 10 Year U.S. Treasury is flat at 1.11%.

I found this Seeking Alpha piece on Coronavirus immunity passports to be well worth the read. The passport concept is similar to that being used in China with the Covid phone app tagging a person's status with green/red signaling based on movements through clean or problematic areas.

The last paragraph documents how quickly the Israeli government has moved with vaccinations and documenting those with proven antibodies.

Coronavirus immunity passports

A tech and healthcare coalition that includes members like Microsoft, Oracle, Salesforce and U.S. nonprofit Mayo Clinic are working together to create a COVID-19 vaccination passport. The Vaccination Credential Initiative (VCI) would allow businesses, airlines and countries to check if people have received a coronavirus vaccine to "demonstrate their health status to safely return to travel, work, school and life while protecting their data privacy."

How would it work? "VCI's vision is to empower individuals to obtain an encrypted digital copy of their immunization credentials to store in a digital wallet of their choice. Those without smartphones could receive paper printed with QR codes containing W3C verifiable credentials."

Some hurdles: Privacy and ethical concerns surround whether a person who can prove they are vaccinated should have more freedoms than someone who is not. Another obstacle is getting health centers to participate. Even if they would want to, they would need resources to incorporate these credentials to VCI's digital standard (people in the U.S. are currently given paper cards when they get their COVID-19 vaccines, while patient information is logged in their state immunization registries).

Looking abroad, Israel is launching a "green passport" program to residents who have received a vaccine or those who have recovered from COVID with antibodies. The passport will lift some restrictions, including mandatory quarantine following exposure to an infected person or traveling abroad, and may even be used for visiting malls or attending cultural and sporting events. The country of 9M people has been lauded for deploying what is currently the fastest COVID vaccination campaign in the world, with 25% of its citizens inoculated with a first dose in just three weeks, as well as 72% of its population over the age of 60.


Wrapping Up The Blog and Cumberland County

You can bet that I will be in the GFRC office the entire day given the closing Cumberland County deadline.

Thanks for checking in at the Blog. Please return tomorrow morning for a magnificent display of all 139 Cumberland County lots.

Also, let's not let our guard down. It is important to be constantly vigilant and safe with respect to Covid-19.




January 14, 2021

Cumberland County Auction Sale Preparations Approaching the Finish Line


Unprecedented January 2021 GFRC Sales Rate


Greetings and welcome to the Blog on a Thursday morning.

It sure has been unseasonbly cool here in Venice. Wednesday brought a day of overcast and temperatures hovering in the mid 50s. At one point, I looked at Diane and commented that the lack of sun brings feelings of being back in Maine. Florida is indeed experiencing a cold January. Today's forecast calls for more clouds with a high of 67F.


Cumberland County Auction Sale Preparations Approaching the Finish Line

As mentioned to Len Augsburger last evening, the finish line for the Cumberland County Superb Liberty Seated Half Dollar Collection Sale preparations is in sight!

By far, the forthcoming Cumberland County event is the largest undertaking since launching GFRC back in 2014. A 139 lot collection is substantial considering the imaging requirements and attention to details. Since chocked full of important die varieties, this sale requires careful research and examination to ensure that each piece is properly attributed. GFRC provides PCGS or NGC holder generation details for each lot. The final images must meet my stringent standards with any significant TPG plastic abrasions being edited and removed. Recommended reserve prices are being formulated as a courtesy to the consigning husband and wife team. Over in Chicago, Len is preparing descriptions and providing the quality control function.

GFRC will publish the online Cumberland County auction catalog on Saturday as committed. The catalog publishing time on Saturday is a question mark as there is still much to be completed. Following is a quick summary for those who might have interested in how an online auction catalog is prepared. Many pieces must be carefully meshed into an error free final product.

- The preview image galley is complete through the 1876 date. You are invited to have a look by clicking on the Cumberland County auction banner at the top of the Daily Blog page. I'm most proud of this display as one of my finest efforts.

- Descriptions are completed up through the 1871 dated lots. Len sent this file along last evening. I've yet to copy those descriptions into the COIN database due to workload.

- Reserve pricing recommendations are completed up through 1860. A COIN account report was transferred to the consignors last evening.

Once the online catalog is published, the auction marketing efforts continue. Content for another GreySheet Publishing email blast to announce the auction launch is under consideration. Finally, a special GFRC online community event is being planned for next week. That announcement is forthcoming in the Daily Blog and is yet another exciting development for the GFRC business model.

Next are newly added Carson City dates to the gallery display. Of course, a Daily Blog edition without images is visually boring. So let's take the opportunity to showcase some important Cumberland County Liberty Seated halves that are seeking a new home.

  1873-CC Arrows WB-7 PCGS EF45                                           1874-CC Arrows WB-3 PCGS EF45


1875-CC WB-1 PCGS AU58                                                    1876-CC WB-25 PCGS MS63  



Unprecedented January 2021 GFRC Sales Rate

Why does it feel like I'm spending January 2021 planted in the GFRC office?

While focused on Cumberland County preparations, GFRC is enjoying an unprecedented sales rate to kick-off the new year. Multi-piece orders are becoming commonplace as more Express shipments are transported by Diane to our local USPS satellite office on a daily basis.

GFRC month-to-date volume currently stands at 151 coins during thirteen calendars. I'm to the point of rejecting multi-piece lot offers where clients seek discounted pricing. The numismatic market, from GFRC's perspective, is red hot. Please be aware that backfilling the price list without coin shows in the forseeable future translates into minimal appetite for accepting offers. Rather, GFRC needs to purchase more coins in the upcoming 30-60 days towards sustaining present inventory levels.

January's demand can be viewed by checking the 30 Day Price List. This list has quickly shrunk from a recent high of 160+ offerings to 103 coins as of this morning. There are posted Holds throughout the price list. Yes, the Cumberland County project has impacted my ability to quickly turn consignments and posting those on the 30 day price list. That recovery will start on Sunday as the consignment backlog is huge.


Global Financial News

President Trump being impeached for a second time has had little impact on financial markets. There appears to be a growing disconnect between the daily Washington DC drama (as fueled by rating hungry cable and online media companies) and financial markets.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan +0.9%. Hong Kong +0.9%. China -0.9%. India +0.2%.

In Europe, at midday, London ++0.7%. Paris +0.1%. Frankfurt +0.2%.

Futures at 6:20, Dow +0.4%. S&P +0.2%. Nasdaq -0.2%.

Crude oil pricing is holding at the $53/bbl level. Gold has pulled back to $1839/oz while Bitcoin has moved up another 10% to $38,593/coin. The 10 Year U.S. Treasury yield inched down to 1.11%.


Wrapping Up The Blog

Let's wrap up the Blog early as every hour is precious for catching up on office admin workload and responding to customer emails.

All I can say is thank-you for the present order rate and support. We are working diligently to manage execution details and maintaining our service levels.

The time has arrived for a quick shower and another long day in the office.

As always, please stay Covid-19 vigilant.




January 13, 2021

USPS Variability Abounds Creating Office Headaches


Learnings From the Oakdale Collection


Greetings on a Wednesday morning and welcome to another session of Daily Blog ramblings.

Do you ever have one of those office days where the morning immediately turns south with more headaches as the days goes on? That describes the GFRC office on Tuesday. By mid-afternoon, I could feel the dark clouds lifting especially after a generous act of kindness from a new GFRC client.

Let's walk through just another day in the GFRC office to ensure that Blog readers understand that I'm not lounging around with my feet up on the desk waiting for phone orders.


USPS Variability Abounds Creating Office Headaches

Yes, the U.S. Postal Service is still struggling with Covid-19 impacts. As a result, USPS performance is highly variable. Some check payments and shipments move through the USPS system at near normal processing speed. Other are significantly delayed. If USPS was consistently delayed, that would be better than performing with the present broad variances. GFRC customers and clients could adjust expectations with a consistently delayed system. But when performance is just all over the place, customer expectations are not met. This results in certain individuals having delivery or payment anxieties and pushing those anxieties onto GFRC.

Tuesday did not start well with an email from a California customer claiming his package was not delivered. USPS tracking showed the package to be delivered and signed for by the carrier. However, the package was not in the mail box. Immediately, the problem was shifted to GFRC with a request for a resolution timeframe ie. a refund. This did not sit well as GFRC is about to negotiate its 2021-2022 business insurance with Hugh Woods. A lost package claim would impact our negotiating position and raise our forthcoming rates.

Then came a request for Express letter payment on a consignment and date for cutting the check. The coins were on hold. At issue was the fact that GFRC had not been paid for the order due to variable USPS mail delivery. The coins could not be shipped via Quick Ship since the buyer was new to GFRC.

While these requests were arriving, Diane and I were attempting to process a heavy morning shipping load and preparing a recently consigned Capped Bust half dollar collection using the new CAC online portal for submission form generation. As with any new app, there is a learning curve. Dan White also drops by the office at 9:30 AM with a coin for the CAC submission and an amazing new consignment that will be discussed at a later date.

Adding to the morning workload was a five figure eight piece order with proposed offer price that required in depth analysis and counteroffer. When dealing with consigned coins, attention to detail and consignor discounting guidance is critical.

How did the day turn out?

The California customer found the "delivered" package in the bushes by his mail box. Whew....

The overdue check payment for the consignment purchase arrived during afternoon mail delivery. Payment was mailed on January 4th (postmarked) with delivery on January 12. The lot will ship today.

The eight piece five figure deal was successfully negotiated while eating lunch. Wire transfer payment takes place early next week.

My message to GFRC clients is to recognized the ongoing variability of the U.S. Postal System due to Covid-19 and exercise patience. As I told one client yesterday, please have mercy on my soul! GFRC does not manage USPS and is doing its best to provide proactive services. For example, I am asking clients on higher priced purchases (greater than $3000) to agree to use USPS Express ship at a slightly higher cost. USPS Express is a guaranteed delivery service, therefore USPS provides the most focus on getting these packages delivered against commitments. Secondly, during the printing of every USPS Priority and Express label, a tracking email notice is sent. I am asking clients to take an active role in tracking the delivery of their shipment. It is impossible for Diane and I to be watching customer shipments and sending email reminders that your packages are out for delivery. We need clients to be proactive, exercise patience, and having a sense of humor concerning the present USPS transport environment.

Thanks for listening.


Learnings From the Oakdale Collection

When I re-entered the hobby circa 1988, there was one piece of valuable advice that I never forgot. An old time dealer told me that "there is no Santa Claus in the coin hobby". He was definitely correct after purchasing a "whizzed" 1849 dime in raw Mint State at an attractive price during my first Winter FUN show. I kept that whizzed 1849 dime in my pocket for the next few years when attending national coin shows as a reminder of the risks and the shark dealers that one will encounter.

This leads to a lessons learned story from the Oakdale Collection consignor. Yesterday, he granted permission to share his story in the Blog with the hope that others will read and internalize his advice after taking losses on several gold coins.

The story starts with GFRC receiving two ICG graded MS63 $2.5 gold pieces on consignment along with the many other pieces transferred by the Oakdale Collection. This consignor has an excellent eye for U.S. gold but a weakness for the bargain prices of ICG Mint State graded coins on eBay. On several occasions, I received emails with eBay links for ICG MS66 gold that appeared to be discounted and a "bargain". Each time, I advise Oakdale to pass due to crossover risks. Secondly, GFRC customers don't wish to purchase U.S. gold in ICG holders.

Well, the two ICG graded MS63 $2.5 gold pieces did not sell on the GFRC price list. I was not surprise. The consignor decided to have me crack out the coins and send raw to PCGS for regular grading. The results? One piece returned as an MS62, the other AU58. The two pieces were sent to CAC with the AU58 receiving green bean. Come end of day, both coins will be back on the GFRC price list in PCGS holders and post CAC submission.

The exercise was a moderately expensive adventure for the consignor. He acquired PCGS grading fees and CAC submission fees to get to an 1852 G$2.5 with PCGS MS62 designation and an 1856 G$2.5 with PCGS AU58 CAC designation. The purchaser of the latter might consider giving the Oakdale Collection consignor a $10 tip for the effort.

Bottomline? There is no Santa Claus in the coin hobby! If a deal looks cheap, it is cheap for a reason and eventually the buyer will paid the price.

For ICG and current ANACS gold labeled holdered coins, I treat these as being raw when making a purchase evaluation. Grading fees for these two TPG are low but so is market credibility.


Cumberland County's Superb Liberty Seated Half Dollar Collection Sale Update

All of Tuesday afternoon was dedicated to Cumberland County image processing and completing the final description template for Len Augsburger. The template was completed at 8:30 PM and promptly emailed to Len. Afterwards, I went directly to bed as mentally worn out.

Today brings the posting of more Cumberland County images to the gallery to enable Len's authoriative descriptions. Oh, I must sit down and review all 139 coins in the auction sale and prepare a reserve pricing proposal for the clients. That task will take the better part of the afternoon or early evening.


Global Financial News

With all that is taking place in the GFRC office, there has been no time to review national politics or financial news. This is probably a good thing!

Morning market futures are mostly down as the Covid-19 pandemic continues to rage across the United States. Florida's daily confirmed Covid cases levcl is averaging at 15,000 after peaking at 20,000 last week. Attention shifts to the lack of vaccines for the number of eligible individuals age 65 and older.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan +1%. Hong Kong -0.2%. China -0.3%. India -0.1%.

In Europe, at midday, London flat. Paris flat. Frankfurt +0.1%.

Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.3%.

Crude oil pricing is rising predictably on a daily basis. This morning's quote stands at $53.28/bbl. Local gas pump prices are starting to reflect the higher costs in the supply chain.

Spot gold pricing is steady at $1854/oz while Bitcoin has pulled back to $34,667/coin. Wow!

The 10 Year U.S. Treasury bond yield has also receded to 1.13%


Wrapping Up The Blog

Today brings the final push for preparing key Cumberland County deliverables. We are facing another substantial shipping morning as GFRC month to date sold coins increasing to nearly 140 pieces.

Once again, I'm off to the shower and will be back in the office by 8:00 AM to start on another day's adventure in the GFRC office.

Thank-you for reading through today's Blog edition. I share daily happening for transparency into the GFRC business and the associated workloads. Diane and I wish to provide the best possible service to every client. However, as with any business, there are variables that are out of control though we make every effort to anticipate risks.

Please be careful and safe out there.




January 12, 2021

GFRC Identifies Finest Known 1850-O V-3 Liberty Seated Half Dime


Cumberland County Carson City Dates are Posting to the Auction Gallery


Greetings and welcome to the Daily Blog on a Tuesday morning. Thanks for stopping by!

The GFRC office just keeps humming along with a host of new coins arriving along with substantial daily shipments. I could not be more pleased with the state of the GFRC business as January demand is red hot. Even with such a strong market, GFRC continues to focus on quality service and not cutting corners. I wish for every customer purchase or consignment experience to be a memorable event. All that I ask is your patience given the limited staffing to process all the incoming consignments.

Southern Maine and Venice Florida weather patterns are flatlined. Maine is enjoying above average temperatures during January with no significant precipitation. Down in Venice, cooler temperatures are the rule with overcast conditions forcasted for the next 72 hours. Being proactive, I completed the last of the Cumberland County Seated half dollar photography yesterday in anticipation of the darker weather conditions.


GFRC Identifies Finest Known 1850-O V-3 Liberty Seated Half Dime

I'm absolutely thrilled to announce that GFRC has identified the finest known 1850-O V-3 half dime as part of a new shipment. V-3 is by far the rarest of the Valentine 1850-O die pairings and presently documented as an R7 rarity This is a consigned piece with the owner wishing to remain anonymous.

1850-O V-3 PCGS AU58 H10C - Finest Currently Known

Let's step back for a moment and review the identified 1850-O die varieties per the thorough research and documentation being assembled by Clint Cummings. His Liberty Seated half dime attribution guide is found online at the following link.


Clint has identified six different die pairings with V-3 having only one reported example. Previously Valentine and Al Blythe had listed the V-3 reverse has being a Medium O sized mintmark. Cummings has listed the V-3 as another reverse die with the Large O mintmark punched close to the lower left ribbon. A die crack from U(N)ITED to the denticles is an additional diagnostic. A later die state is known with full reverse cud at the tops of (UN)ITED.

Upon attributing this 1850-O half dime as V-3, I forwarded the images to Clint Cummings for confirmation. He replies with the following.

Dear Gerry,

This is definitely a (nice) 1850-O V-3 AU-58.

This is now the 3rd example that I have seen, so I would currently rate it R-6.

It's the top one.  The other two are AU-55 (ebay 2019) and VF-35 (ebay 2018 plate coin).

This beautifully toned PCGS AU58 example is currently for sale. Pricing a coin of this statue is an art. My hope is that the piece is placed into one of the advanced Liberty Seated half dime collections being assembled. It will be listed on the GFRC price list with Price On Request (POR). Actually, I will entertain offers for the piece on behalf of the consignor. With this variety attribution, the consignor is having second thoughts about selling the coin.


Cumberland County Carson City Dates are Posting to the Auction Gallery

The Cumberland County auction lot preparation finish line is becoming more apparent as the week moves along. Yesterday's image processing brought me to the heart of the collection; the awesome 1870-CC through 1873-CC No Arrows dates. I worked diligently with each image to ensure that the final products accurately represent the actual in-hand appearance of each offering.

The first year 1870 Carson City date is a well recognize rarity in the Liberty Seated half dollar series with those at the EF40/EF45 grade level being the top end of availability. The 1871-CC offering is a very serious offering given its CAC approval. This offering is the lone AU50 in the CAC population with a single piece at the AU55 level and two at AU58. I'm sure the demand will be intense. Though the 1872-CC half is not as rare as the prior dates, the CAC approved population is meager which should lead to spirited bidding. We close today's display with a pretty 1873-CC No Arrows that was sent to CAC but did not sticker. This example is much more attractive than the two last Heritage (2019) and Stacks (2020) auctioned pieces that can be viewed at CoinFacts at your leisure.


First Round of Awesome Cumberland County Carson City Dates

1870-CC WB-5 PCGS EF40                                                   1871-CC WB-2 PCGS AU50 CAC


  1872-CC WB-9 PCGS EF40 CAC                                            1873-CC No Arrows WB-1 PCGS EF45



Today brings yet more Cumberland County images to the gallery along with the final description template for Len Augsburger. The under construction gallery can always be view by clicking on the Cumberland County auction banner.


Global Financial News

China equity markets are surging based on morning futures while U.S. markets are poised for another positive opening. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan +0.1%. Hong Kong +1.3%. China +2.2%. India +0.5%.

In Europe, at midday, London -0.7%. Paris -0.2%. Frankfurt flat.

Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.5%.

I find commodity price action much more interesting than that of the equity markets. The ongoing record breaking performance of U.S. equity markets can be directly correlated to Federal Reserve stimulus actions including bond buying of U.S. corporation paper. Unfortunately, the wealth gap between the top earners and the majority of the U.S. population continues to widen based on Federal Reserve policies. I see the Federal Reserve inching closer to Modern Monetary Theory behaviors where money supply is at the whim of the government with taxation being used to extract excessive liquidity in market sectors.

Crude oil prices continue to rise with the morning quote at $53/bbl. Spot gold prices have once bounced off the 200 day moving average trend line and stabilized at $1862/oz. Bitcoin stands at $35961/coin for those who love the intrigue of this casino.

The 10 Year U.S. Treasury yield is also increasing with today's rate at 1.16%. If this trend continues, the home equity refinancing and mortgage market will be impacted.


Wrapping Up The Blog

Another busy day awaits me in the GFRC office with key Cumberland County deliverables. Diane is facing a substantial amount of shipping including preparing another CAC submission.

I'm off to the shower and will be back in the office by 8:00 AM to hit the ground running.

Thanks again for checking in at the Blog. Please be safe and well.




January 11, 2021

Preparations for Maine Return


More Great Coins Heading to the Price List


Greetings on a Monday morning and welcome to another round of Daily Blog ramblings.

Another numismatic week arrives in the GFRC office with a host of tasks to get done. Month-to-date sales continue to be fantastic with 117 coins sold across ten days. Sales are primarily limited by operations. In other words, my ability to process new purchases and consignment in parallel with the Cumberland County auction sale preparations are gating sales. One side benefit from launching the GFRC Online Auctions service is yet more improvements to the image processing function and resulting image quality. Practice makes perfect is the saying. As I am constantly processing images, color tuning along with brightness/contrast decisions are become intuitive. I'm to the point of knowing the exact requirements for each image without lost time conducting exploration.


Preparations for Maine Return

How do I pass the time when not in the GFRC office?

My daily routine is predictable given a partial Covid-19 isolation. Out of office excursions are limited to grocery shopping and GFRC shipment drop-offs. I've not visited the regular saloon for a hair cut and will probably let me hair grow until back in Maine.

A day in a GFRC life typically includes the following activities.

- Daily health walks with 5 or 8 lbs weights are paramount for staying fit. Knowing that the summer brings time in the back acreage cutting trees and moving a large amount of rocks, I'm working towards a stronger body especially in recognition of an upcoming 65th birthday.

- Absorbing a host of videos on John Deere tractor usage and forested land management. The homestead's back 20 acres are a wonderful resource if properly managed. The rocky terrain and hillside slope present a considerable challenge. Improving trails will take patience and adherence to tractor operation that utilizes best practices. Already, I have planned projects that will takes months to execute. I will probably bring back Dave Wilkinson and his large excavator for the heaviest of the residual trail clearing and natural spring area expansion. The new Deere 2025R is a land maintenance tractor and not large enough for clearing trails through densely packed treed and rocky terrain. In the back of my mind, I'm hoping that coin shows don't restart until the Fall months.

- Securing enough sleep to stay healthy and focused on the GFRC business and customer service.

Of course, there is a longing for time in the basement soundroom and enjoying the audio power of the Focal/Naim system. Music time is not lost in the Florida condo however. Tidal music streaming is always on via an old Dell laptop that has a sole retirement function of streaming music via Bluetooth to a Bose sound box. I let Tidal run daily through it huge catalog across multiple genres. When hearing a new song that captures my attention, that piece is saved onto one of many playlists. Once back in the Maine soundroom, there will be a host of new music to explore on the audiophile system.

OK, enough ramblings about preparations for the Maine return come late April.


More Great Coins Heading to the GFRC Price List

I'm currently in the home stretch for Cumberland County auction preparations. Once the catalog is published on Saturday, my attention promptly shifts to a host of new consignments that are queued in backlog.

Sunday brought time out from Cumberland County as I posted seventeen new purchases. The response and rapid sales rate is most encouraging with a second part offering coming towards end of week.

Smaller consignments from Oregon Beaver and Running Boar arrived during the past few days. The nearly complete set of Capped Bust halves is awaiting COIN database loading and CAC submission.

As today's Blog is being written, I'm not certain which coins in backlog will be given priority. The imperative is wrapping up the Cumberland County auction lot and meeting a committed deadline.

My advice to customers is to check the Blog each evening and morning for new purchase or consignment galleries. I will always post images in the Blog before loading to the price list. Those images spawn First Right of Refusals which lead to quick sales once reaching the price list.


Feedback for Natural technique does not exist Essay

Feedback arrived during Sunday afternoon concerning the "buy the coin" essay as inspired by Seth Godin's Natural technique does not exist blogpost.

The Labelman87 Collection consignor continues to read the Blog and shared the following comments.

Top of the Morning Gerry,

Today’s blog prompts me to drop a line concerning “buy the coin”.  I believe your description (particularly for newer collectors) helps develop the process for determining the wow factor of a coin.  Within the process, the education moves from visual to series analysis and rarely factor.  Fortunately for me, two early views “put me on the road” of a successful quest of building a collection.  These were the viewing of the James A. Stack collection of early quarters and half dollars, at Stack’s in New York, in early 1975 and viewing John Pittman’s exhibit of Liberty Head Gold proof sets at the 1976 New York ANA convention.  As the were no TPG’s (plastic) viewing the Stack quarters (in what we call raw today) in white gloved hand is something unavailable today.  Viewing Pitman’s proofs defies description.

Also, a quick thanks for your annual summary of the business.  I have enjoyed picking out the pieces of your businesses development over the past two years and watching your growth.

I can always count on Tenafly to offer commentary to my Blog ramblings.

Really enjoyed the Natural Technique dissertation in this morning's blog. I believe the bottom line is to "buy the coin, not the holder". Yes, there are many, many "substandard" (at least to this collector!) coins offered for sale and purchased every day.  I'm certainly not a numismatic expert, but buying the coin and not just the photo or TPG grade (which are sometimes questionable anyway) always works out well. Of course, "buying the book before the coin" is paramount with its attendant learning. Technique is honed by doing it over and over and LEARNING from mistakes...


Global Financial News

A new trading week arrives with morning futures mostly down other than India. Following are morning market futures courtesy of Seeking Alpha for those who need their daily fix (me included).

In Asia, Japan closed. Hong Kong +0.11%. China -1.1%. India +1%.

In Europe, at midday, London -0.5%. Paris -0.5%. Frankfurt -0.4%.

Futures at 6:20, Dow -0.6%. S&P -0.5%. Nasdaq -0.4%.

Some air has leaked out of the Bitcoin bubble during the weekend. Bitcoin dropped 20% during a 24 hour period. Following is a Seeking Alpha headline with commentary. Bottomline is large amounts of cash are being moved around in global markets on a short term trading basis.

Nearly $170B was wiped off the cryptocurrency market in 24 hours as Bitcoin slumped as much as 20% to $34,130 after a huge rally and some profit-taking from investors. Other cryptocurrencies are selling off as well: Ripple -19.1%; Ethereum -17.2%; Bitcoin Cash -19.2%; Litecoin -20.5%.

Signs in Bitcoin's technical chart point to a 25%-30% sell-off that's likely to hit early in the new year, Miller Tabak chief market strategist Matt Maley told CNBC on Thursday.

Quote: "There's no question it's been a melt-up, and it could last a little bit longer. I think on a short-term basis it could continue a little bit longer, and I'm very bullish on it on a very long-term basis. But intermediate term, I'm a lot more concerned than I think a lot of other people. Part of the problem is the market's excess liquidity... over the summer, the sideline money fueled the mega-cap tech rally, but now that those stocks have stabilized, it's driving Bitcoin."

Traditional commodities are fairly predictable. Crude oil continues its slow rally in anticipation of Covid-19 vaccinations finally bringing the pandemic under control. Spot gold is trading at $1850/oz and riding along the 200 day moving average on a technical basis.

The 10 Year U.S. Treasury bond yield stands at 1.1%.


Wrapping Up The Blog

Yes, it is time to end another Daily Blog edition as I'm out of commentary.

I will be in the GFRC office the entire day as the workload is huge. Please feel free to call or email for purchase orders or consignment proposals.

Otherwise, I wish everyone in the GFRC community a pleasant and safe day.




January 10, 2021

Natural Technique Does Not Exist


Cumberland County's Liberty Seated Half Dollar Set Gallery - Heading to Finish Line



Greetings and welcome to a Sunday Blog edition.

I've not made mention of the fact that this would have been Winter FUN show coin week in the Blog. Winter FUN is the annual kick-off to another year of numismatics with its huge bourse and educational programs. Winter FUN is yet another Covid-19 casualty with the 2021 coin show circuit being "up in the air".

GFRC continues to quickly adapt to the shifting numismatic landscape with its growing online presence. My concerns with sourcing fresh coins to kick-off 2021 were unfounded as the office is chocked full of inventories waiting to be processed. Bringing the huge Cumberland County Seated half dollar collection to market has been eye opening and a learning experience. Based on conversations with Len Augsburger on Saturday, GFRC will be yet again evolving its marketing process and adding a new fun component to auction catalog previews. It is indeed an exciting time for a small business.

There is nothing to share in terms of new coins in today's Blog. Most of my attention is focused on the forthcoming Cumberland County auction catalog preparations. However, today's Seth Godin blogpost has some wise advice for many in the community, especially those who are fairly new collectors. Please step back for a moment and consider Godin's reference to "technique". Technique must be acquired through experience when brute force no longer moves us to our goals.


Seth Godin Blogpost: Natural technique does not exist

It’s amazing how much we can get done simply by trying.

Whether it’s writing or golf or sales, when we show up and do our best, we can make things happen.

But then, our internal horsepower becomes insufficient. As we seek to make a bigger impact, we discover that powering our way through obstacles is simply too difficult.

And so we need to learn technique.

Technique is the unnatural approach to a problem that, with practice, becomes second-nature. Technique is the non-obvious solution that amateurs and hard-working beginners rarely stumble upon on their own.

The commitment to a practice opens the door to finding a more useful technique.

You got this far because your natural approach was helpful. But to get to the next level, you’ll need technique, which, by definition, isn’t something you come by on your own.

If there are people who are playing at a different level than you who are embracing an approach that feels unnatural to you, you may have found the technique that you’ve been missing.


Numismatic collecting technique is a skill that evolves through practice and knowledge acquisition.

New collectors have price guides (too many) and TPG holder labels as their first acquisition tools. Armed with these two tools, they can use financial brute force towards building a collection via eBay and auction house purchases. They might be able to move into the Top 10 within a Set Registry in a short period of time. The power of the internet is amazing, isn't it? Have they built an outstanding collection? Doubtful as superior coins don't typically hang out on eBay or are commonplace in auction house catalogs.

It takes special "technique" to discern the superior coins from the average. Seth Godin mentions and I quote, "Technique is the unnatural approach to a problem that, with practice, becomes second-nature." How does this apply to a collector?

Let's step back for a moment and consider today's numismatic marketplace. Most available coins are found in TPG holders. Dealers rely on the TPG certification to sell the coin while minimizing their workload and cost of doing business. To catch my point, please go around to other dealer websites, including the larger dealers, and check for coin descriptions. What will you find? Mostly a reliance on the TPG holder to sell the coin. This dear Blog readers is what the TPGs and numismatic industry wish for collectors to believe. They hope that collectors become dependent on certifications. Dependent collectors are critical for the TPG business model.

This week brought an email from one of the two top TPGs announcing customized labels for modern and 20th century issues. This email should reinforce my point. This TPG not only seeks plastic certification dependency, they hope that collectors will become addicted to special custom printed labels.

True numismatic collecting technique is a skill that focuses exclusive on the collectible, the coin! Imagine that, collecting with the primary emphasis on the coin and not the TPG holder? However, it takes years of study along with visual skills, and some knowledge of metallurgy to develop a true numismatic collecting technique. Among the hundreds of early type silver coins that can be found throughout today's online numismatic market, only a percentage will be truly original with natural coin gray surfaces. Conducting several in-person auction lot preview sessions will quickly reveal this point as I learned back in the 1990s (a special thanks to Chris Pilliod for being my mentor at these viewing sessions).

The loss of coin shows has dealt a blow to the numismatic collecting technique process. Collectors must go online to continue enjoying their hobby. Sadly, online shopping brings a dependency on the TPG label and photography variation from seller to seller. Acquiring numismatic collecting technique can only take place by inspecting hundreds if not thousands of coins. One quickly gains a sense of the number of "dregs" in the marketplace versus the gems. Remember that most gems are tied up in the collections of those who have acquired a higher level of numismatic collecting technique.

At this point in my numismatic career, it is safe to say that I have reviewed thousands upon thousands of early type coins. My visual skills along with an in depth understanding of metallurgy (from year in the semiconductor industry) allow me to quickly sort through coins towards locating the choice and gem pieces. The TPG holders and assigned grades are secondary to the coins. Please rethink the linear price/grading scale! Some AU55/58 graded coins are superior to many MS62s. This is why GFRC does not bother with the "crackout and upgrade game". I call coins as I see them and price accordingly. For the inexperienced, some GFRC offerings may look to be overpriced and well beyond the guides. Moon money is a terms often used to describe gem coins that sell well beyond the guides. This is what happens when decades of numismatic collecting technique are acquired. An individual can understand the difference between price guide compliant coins and the moon money coins.

I hope that those who read this blogpost will stop for a moment and consider my words. Focus on the coin and not the TPG holder as the primary decision point during an acquisition. Immediately, you will be purchasing less coins..... But those that are purchased will be superior. One near term benefit is the improvement of the net return when exiting a numismatic collection.


Cumberland County's Liberty Seated Half Dollar Set Gallery - Heading to Finish Line

Photographing and preparing quality images for a 139 piece collection is a substantial project.

I've been diligently preparing the Cumberland Country Superb Liberty Seated Half Dollar Collection sale during the past ten days. The preview gallery is complete through the 1866 With Motto Philadelphia strike.

Today brings the sprint to the finish line. Len Augsburger is waiting for the second description template (1861 - 1891). Reserve pricing recommendations will be prepared and shared with the consignors for feedback and a consensus decision.

The sprint to the finish line takes place this week. I've promised that the online catalog will be published on Janaury 16!

For those who plan to be active bidders in the Cumberland County sale, please keep checking the preview gallery by clicking on any of the auction banners located throughout the GFRC website.



Wrapping Up The Blog

Today's edition is being published early. The extra morning time and lack of shipping activities will allow for more image preparations and hopefully, more postings to the 30 day price list.

Thanks for stopping by at the Blog.

I can't stress enough the need for being Covid-19 cautious. Here is a short story that should drive home the point.

One of the Auburn Lakes HOA board members lost his wife this past summer to cancer. He is 74 with his wife passing at 73. This board member is spending the winter in his condo unit isolated alone due to a heart condition. A friend of the family who lives in the area was concern that this person would be alone for the holidays and invited him to their home for a party. He wisely declined and remained in isolation. Why was this a wise decision?

The friend of the family had their adult children visiting from out of state. Those individuals transported the Covid-19 virus to the family gathering with all being infected.

If this board member has accepted the goodwill invitation, it could have been a death sentence. Imagine mourning the loss of a wife, living alone, and being infected with Covid-19 at 74 years of age?

See you tomorrow at the Blog.




January 9, 2021

Awesome GFRC New Purchases - Part 1


USPS Address Book Database Troubles Impacting GFRC Shipping


Greetings on a Saturday morning and welcome to a weekend Blog edition.

The day started early as there is much to accomplish. Breakfast took place at 5:00 AM followed by responding to Collectors Corner orders and First Right of Refusals for last evening's new purchases gallery display.

Spot gold pricing saw a substantial drop to the $1850 level yesterday. Quick morning reading failed to uncover a plausible explanation other than U.S. Treasury bond yields are quickly increasing. The U.S. dollar index is flat . I don't see a strong connection. Are we seeing market manipulation again by those shorting gold prices?

Closer to home, the GFRC factor floor is humming along. For whatever reason, I feel comfortable operating a factory more than a boutique shop. My personality is that of constant attention to new challenges, problem solving, and a touch of creativity for continuous improvements. Hanging out in a low volume boutique shop with endless descriptions of high margin per coin offerings is just not who I am.

An obvious benefactor of the low margin/high volume sales strategy is the GFRC Sales Archive. When selling 250 or more coins per month, the Sales Archive database is quickly becoming populated with real data. The Sales Archive is the ultimate transparency vehicle for reassuring customers and clients on the value of their numismatic holdings. If a coin has sold for X, it should be able to be sold again within a range around that number. Of course, market forces and demand can change over a decade. As long as the GFRC and Liberty Seated Collectors Club communities remains strong, prices should be stable or increase for the top tier coins.

This week brought an infrequent upgrade to my core Liberty Seated dime set. It took just minutes to decide to purchase a special Liberty Seated dime that appeared on the market. This piece has it all, hammered strike, beautiful toning, a famous pedigree, and CAC approval. This acquisition leaves me with only eight dimes without CAC approval across 121 pieces within the complete Business Strike with Major Varieties set. There is something to be said about meticulously assembling a set over a 30 year timeframe. The new purchase will be published once arriving to the office and photographed.


Awesome GFRC New Purchases - Part 1

Please be assured that the U.S. numismatic market for early silver type and U.S. gold is robust. As of this morning, GFRC has sold 108 coins in eight days. January may bring sales well in excess of 350 or more coins considering the upcoming Cumberland County Superb Liberty Seated Half Dollar Collection Sale.

I continue to be very positive for the U.S. coin market during 2021. The Covid-19 pandemic will not be under control until mid summer if we are lucky to have a coherent vaccination rollout across all states. I've already given up on the Summer FUN and Whitman Baltimore coins shows taking place. The ANA World's Fair of Money might be the first major show to take place. Who knows at this point?

Collectors have been changing their buying habits and forced to move to online sellers. Years of software preparation and a fair amount of timing luck have allowed GFRC to become a top online destination for quality coins. I'm continually becoming more aggressive with buying and taking on top level consignments.

Following is Part 1 of GFRC's new purchases. I could not be more proud of the overall quality and the broad range of better dates. There are some truly special coins in this lot. We open with a rare 1853-O No Arrows Liberty Seated half dime graded PCGS AU58. PCGS is population 2 at the AU58 grade. This piece is silky smooth with grayish-blue patina. The weak date punch is typical of the issue.

I've already highlighted the 1798 JR-4 dime in one of this week's Blog editions. This is a fantastic offering for those who demand perfect originality.

The 1860-O PCGS VF25 CAC dime is a trade coin taken in from a top client. I can't remember handling a more original example of this challenging date other than the AU50 CAC example in my core set.

The 1825/4(2) B-2 Capped Bust quarter has excellent luster which is not captured by the GFRC images. This offering is a "coin show" piece as those who view in-hand will fall in love with it. The darker toning regions are amplified by GFRC photography.

Please have a close look at the 1840-O No Drapery quarter. When was the last time that you viewed a fully struck example of this date? Isn't Christian Gobrecht's rendition of Liberty so realistic on this offering? If a serious Liberty Seated quarter collector, you should scoop up this offering even without CAC approval. CAC is not the end all to collecting.

The balance of the offerings speak for themselves. The 1832 LM-4 half dime is a cool piece with partial obverse die cud and filled S on reverse. The 1865-S half dime is fully original and at the important AU55 grade level. Please check the 1839 F-101 dime. This offering is an MS63 in terms of luster and eye appeal with a touch of rub on the left facing breast and knee. The rub is easily seen on the GFRC images.

The new offerings continue with a magnificently toned 1895 Barber dime that would be ideal for type. The 1875 NGC MS62 CAC is crusty original and a gem at the assigned grade. I love this piece and you will too! The 1835 B-2 Capped Bust quarter is also crusty original with beautiful blues embedded in the gray patina. The 1841-O Doubled Die Obverse is atypically nice in terms of surfaces. Most seen have been from the New Orleans bank hoard with typical nano-porosity surfaces that emit a strange luster. This example is perfectly original and should not last long.

The offerings continue with a stunning 1866 Motto proof quarter. If you like the coin in the images, the piece in-hand will look much better. The 1865 Br 2-A half dollar is a sweet piece for those who prefer lighter frosty toning. We close out the Part 1 offerings with an awesome 1892 AU58 CAC Barber half in old NGC Fatty holder. This piece could easily be in a modern day MS62 holder with no one batting an eyelash.

My thanks in advance for reviewing today's new GFRC offerings. I will do my best to load these to the price list during the next 48 hours. The Cumberland County auction preparations are substantial and consuming much of my time. The next two days will see time multiplexing between loading the new offerings to price list and continued progress with Cumberland County image processing.

The overnight brought several FRoRs. If interested in any these new offerings, I would suggest that you get those First Rights of Refusals into me post haste. Great coins don't last long on the GFRC price list. I'm certain that the sales rate will be high for this special lot.


Awesome GFRC New Purchases - Part 1

Posting to Price Lists on January 9-10, 2021

1853-O No Arrows PCGS AU58 H10C

1798 Large 8 JR-4 NGC EF40 CAC 10C                                        1860-O F-101 PCGS VF25 CAC 25C    


    1825/4/(2) B-2 PCGS AU58 25C                                         1840-O No Drapery PCGS AU55 50C


 1832 LM-4 R4 PCGS AU58 CAC H10C       1837 Sm Date PCGS AU58 OGH H10C               1850-O PCGS AU58 H10C             


             1865-S PCGS AU55 H10C                               1870 PCGS AU58 H10C                       1838-O F-101 PCGS AU58 10C          


     1839 F-101 PCGS AU58 CAC 10C             1869-S F-101 PCGS VF35 CAC 10C                  1895 PCGS MS64 CAC 10C         


    1875 BF-1 NGC MS62 CAC 20C                  1835 B-2 PCGS AU53 CAC 25C                    1841-O DDO PCGS AU53 25C    


  1866 Motto PCGS PR64CAM CAC 25C                    1890 PCGS AU58 25C                               1837 GR-5 NGC AU58 50C              


    1865 Br 2-A PCGS AU58 50C                   1892 NGC AU58 CAC Fatty 50C 



USPS Address Book Database Troubles Impacting GFRC Shipping

An explanation is in order to those who typically enjoy Quick Ship courtesy shipping. Quick Ship is being impacted by USPS Address Book database issues. Many Watch Hill Collection shipment orders have been delayed due to the lack of access to a shipping address on file.

The issue started in late December when USPS redesigned their website to be "mobile compliant". The redesign brought Address Book issues with database access being unstable. Since GFRC does not maintain its own mailing list and customer address database, we are reliant on the USPS Address book to be accessible and functional. At first, the USPS website update brought the need to download our 1100+ address book during every label printing event. This made shipping a lengthy process with Diane not being pleased. Next came a loss of database access for several days. Afterwards, USPS restored access to the database but not individual customer email addresses for issuing shipment tracking information. About a week ago, USPS corrected the database download issue but not the email address access. Finally, since Thursday, the USPS Address Book is down hard.

As a result, GFRC must wait for check payment letters to arrive to secure a customer's shipping address. This has brought delays to many Watch Hill Collection auction shipments.

When will this situation be corrected? Who knows? This is a government entity and we have history on how government officials struggle to deal with high volume website issues. The Obamacare rollout and recent U.S. Mint privy mark ordering situations are examples of poor management.


Wrapping Up The Blog

Publishing a Blog edition by 7:30 AM is ideal for securing an early start to another GFRC office day. First up is a quick shower followed by staging the morning shipping for Diane. While Diane tackles the shipping, I will be processing more Cumberland County images. My goal is to have dates up through 1870 completed by end of day. Please check the Cumberland County preview image gallery as there will be updates throughout the day.

Thanks for checking in at the Blog. Again and again, please be careful with respect to Covid-19 infections.




January 8, 2021

An In-Betweener Blog Day


January E-Gobrecht Features Upcoming GFRC Cumberland County Auction Sale


Greetings and welcome to the Blog as another Friday arrives.

Nope, I will not discuss the weather to start this Blog edition. Maine and Florida weather is flatline. Covid-19 cases continue to rise in Florida to the 18,000 to 19,000 per day rate.

Seth Godin is of no help for providing inspirational content.

This is an in-betweener Blog day!


An In-Betweener Blog Day

Something has changed at GFRC which will take careful consideration and adaptation.

The size or quantity of arriving auction and consignment lots has seen a substantial increase. Instead of receiving several shipments with a handful of duplicates, the USPS deliveries are becoming 40 -100 coins at once. Diane is diligently unpacking the Express boxes and placing quantities of PCGS blue boxes on my small desk with a questioning look. Yes, the consignment flood gates have opened and January is off to a wild start. If counting the Cumberland County auction and consignment lot (there is a raw portion), the Sunset Liberty Seated Half Dollar auction lot (February) and this week's consignment and new purchase arrivals, the backlog stands at nearly 350 coins! The tiny GFRC Venice office has become a full fledged factory floor with a host of coins in different processing stages.

I've labeled today's Blog as an in-betweener day since there are many coins in the image processing loop that will start appearing in Saturday's Blog. More specifically, I hope to have a large new purchases gallery posted this evening on a preview basis. GFRC is receiving a host of fresh coins including a near complete Capped Bust half dollar collection that arrived yesterday. The 1815/2 is a perfectly original VF30. This set is housed in old PCGS Gen 4.0 - 4.5 blue label holder (2005 thru 2013) and has not been to CAC. Natural coin gray surfaces are the rule across mid-circulated grades with an ample number of circulated cameo offerings.

Progress in being made on the Cumberland County Superb Liberty Seated Half Dollar Collection online catalog. I'm trying to add 20 coins per day to the preview image gallery while Len Augsburger is writing descriptions during the evening. If clicking on the headline Cumberland County auction banner, you will find that the preview image gallery is populated through the 1859 dates. Today bring a pause to Cumberland County processing to enable the first round of new purchases offerings. The 30 Day Price List also needs love and attention.

So please make a point to check back this evening at the Blog for potential First Rights of Refusals.


January E-Gobrecht Features Upcoming GFRC Cumberland County Auction Sale

The Liberty Seated Collectors Club, and Paul Kluth as editor, published the January 2021 edition of the E-Gobrecht yesterday. I'm sure that many Blog readers are on the LSCC distribution list. For those who are not, here is a screen capture of the of the opening page. If wishing to download the January edition in PDF format, simple click on the image to access.

LSCC January 2021 E-Gobrecht Table of Contents


Contained within this issue are the new GFRC Online Auctions graphics and a press release announcing the forthcoming Cumberland Country Superb Liberty Seated Half Dollar Collection auction sale that begins on January 23rd. The Cumberland County sale will be a huge event for the Liberty Seated coinage collecting community. A complete set of this magnitude infrequently comes to market and should garner much attention.


1877-CC Type 2 Reverse F-123 Listing added to The Definitive Resource for Liberty Seated Dime Variety Collectors

A rare event took place this week! Somehow in my busy schedule, several hours were found and allocated for an update to the Liberty Seated dime web-book. Considerable time has passed since performing an update with some rustiness in the process. Actually, the new 1877-CC Type 2 Reverse F-123 listing looks well prepared and illustrated. Tom Coulombe (Massachusetts Collection) is the proud new owner of this special 1877 Carson City strike.

Following is a screen capture of the new web-book page, or at least the top section. If clicking on the image, you will be brought to this newly listed entry.


1877-CC Type 2 Reverse F-123 Web-Book Listing


Global Financial News

Global investors are betting that a new Democratic-controlled government would lead to incremental fiscal stimulus as the U.S. recovers from the Covid-19 pandemic. Morning market futures are pointing to yet another record setting day for the U.S. equity markets. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan +2.4%. Hong Kong +1.2%. China -0.2%. India +1.4%.

In Europe, at midday, London flat. Paris +0.4%. Frankfurt +0.8%.

Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.5%.

Is Gold a has-been and Bitcoin the new alternate currency of the future?

It sure appears to be this way based on morning prices. Gold has pulled back to $1892/oz while Bitcoin is rocketing higher on a daily basis. This morning's Bitcoin quote is $41,219/coin.

Crude oil continues its steady upward pricing momentum and is priced at $51.27/bbl. The 10 Year Treasury bond yield has also increased to 1.08%. The U.S. dollar index remains flat.


Wrapping Up The Blog

With the GFRC office being swamped with new purchases, consignments, and auction lots, you can bet that I will be in the office all day working on a host of projects.

Yes, I definitely need to sell coins as the large gun-ammo safe is chocked full of inventory. Some of it must find new homes with collectors in the near term to make room for the incoming quantities.

I hope that you've enjoyed today Blog edition and will come back this evening (new purchases gallery) and tomorrow for the regular morning edition.

Please be cautious and safe out there. We don't want anyone in the GFRC community to become a Covid statistic.




January 7, 2021

Cumberland County's Marquee 1878-S Seated Half plus CSA and Scott Restrikes


Hoosier and Watch Hill Collection Offerings on Price List


Greetings and welcome to the Blog on a Thursday morning. Thank-you for checking in.

Raymond, Maine and Venice, Florida are locked into comfortable winter weather patterns. Southern Maine is experiencing sunny days with temperatures managing to hover at the freezing mark or a bit higher. Evenings bring lows in the teens. Venice weather is similar but with an higher offset of about 30 degrees. Daily highs are approaching 70F while the evenings are dropping into the high 40s.

I am always relieved when the Maine homestead can avoid sub-zero temperatures as solar heating and super insulated walls keep the oil furnace from working too hard. Oil deliveries must be coordinated between Atlanta Heating oil company and Bell's Plowing Services. The Raymond driveway is steep and must be thoroughly sanded before an oil truck will venture down for delivery. The next oil delivery should be scheduled in a few weeks.

Back in Venice, the GFRC office continues to hum along with a host of orders arriving on Wednesday. The six day sales total climbed to 96 coins and is clearly unsustainable on a long term basis. I'm incapable of backfilling this volume level while still conducting auction preparations and supporting the customer interfacing and shipping process.


Cumberland County's Marquee 1878-S Seated Half and Special CSA and Scott Restrikes

Incremental progress was made with the construction of the Cumberland County's upcoming Superb Liberty Seated Hall Dollar Collection Sale client gallery. Please click on the following banner to gain access to the latest gallery status. The status will be expanding throughout the day as more images are processed.


The marquee 1878-S images are posted along with the 1861 CSA and Scott Restrikes. To save Blog readers time, following are those three offerings. The 1878-S is listed in Bill Bugert's new 1878-S Liberty Seated Half Dollar Register as BB-36 and certified by PCGS as 6360.08/25574701 and formerly in NGC VG8 holder with serial #1871926-001. A full pedigree can be obtained by visiting the Liberty Seated Collectors Club website or using the following link to access a PDF version of Bugert's 1878-S Register. http://www.lsccweb.org/BillBugertBooks/Bugert-1878-S-Half-Dollar-Register.pdf.

1878-S WB-1 PCGS VG08 


Both the CSA Restrike and the Scott white metal token strike are present in the Cumberland County auction offerings. Each is graded AU58 with the CSA Restrike garnering fresh CAC approval. 500 each of the CSA Restrike and the Scott Token Restrike were produced during 1879. Rather than write a long explanation of the history behind these restrikes, following is a brief summary copied from a June 2014 Bonhams auction lot description. This content can be found at the following link. https://www.bonhams.com/auctions/21792/lot/1355/

Breen-8002. The story of the Scott Restrike CSA half dollars is best related in a September 1923 letter to M.L. Beistle by David Proskey, an employee of J.W. Scott and Co. in New York, and reads as follows:

"Your favor received requesting a statement of the history of the Confederate State's Restrike Half Dollar. J. W. Scott bought the die of the reverse of the Confederate half dollar, together with the Proof specimen of the only known Confederate half dollar, at that time, from E.B. Mason, Jr. of Philadelphia. The United States Government had seized the obverse as its property, and could have seized both sides, as at the close of the war in 1865 the U.S. government became the heir of the Confederacy. Scott decided to strike impressions from his die, and he sent out circulars offering silver restrikes at $2 each, agreeing to have only 500 pieces struck. Preparing for this issue, Scott purchased 500 United States half dollars of New Orleans mintage with the reverse drilled off. Then for fear that the die would break, steel collar was affixed, and 500 impressions in white metal were struck in order to be able to supply something should the die go to pieces, but the die held intact even after the silver pieces were struck. Each of the latter obverses (Liberty Seated) was placed on a blank of soft brass and then struck on a screw press. This helped to keep the obverse from flattening. The writer supervised the process so that the workers kept no specimens for souvenirs. The die was then softened and cut across, so that no more could be struck from the perfect die. The die now reposes in the collection of the Louisiana Historical Society, the gift of Mr. J. Sanford Sakus. A couple of brass impressions exist showing the ridge across. These are now in the collection of Mr. Elliott Smith, New York City. When all were struck, Scott sent out circulars with the coins to the subscribers offering to pay 50 cents each over the subscription price for return of any of the pieces, stating as a reason "oversubscription" which was untrue. It was doubtful if over 250 were sold, as Scott had a plentiful supply of them for over 30 years thereafter. He gradually raised the price to $15 each. The original Proof half dollar was several times placed in various auction sales, but was always "bought in." Finally, the writer sold it to Mr. J. Sanford Saltus for $3000, who presented it to the American Numismatic Society."


    1861 CSA Restrike PCGS AU58 CAC                                      1861 Scott Restrike Token PCGS AU58      



Hoosier and Watch Hill Collection Offerings on Price List

A reminder that GFRC Online Auctions lots that failed to meet reserve are immediately moved to the price lists where they are available at auction reserve prices. Offers are always welcomed.

Following are two remaining better date Liberty Seated quarters from the Hoosier Collection's AU58 Seated Quarter Sale. The 1850 and 1851 dates are more challenging to locate than their mintages would suggest due to silver arbitrage that brought a planchet silver weight reduction during 1853. Many 1850 through 1852 dated quarters, from Philadelphia and New Orleans, were exported and melted. All remaining Hoosier Sale offerings can be easily viewed at the Gallery link. Unsold pieces are highlighted in a framed box with current offer price listed below the images.


Hoosier Collection AU58 Seated Quarter Sale Opportunities

1850 PCGS Briggs 1-A AU58 25C                                               1851 PCGS Briggs 1-A AU58 25C  



Post auction sales of remaining Morgan Dollar from the Watch Hill Collection continue to be strong. As one collector mentioned during a phone conversation, he is more comfortable buying after an auction at the reserve price rather than participating in an auction's bidding process. I'm sure that more Watch Hill Morgan dollars will find new homes in the coming days. Following are two of my favorites that remain available.


Watch Hill Collection Toner Morgan Dollar Set Sale Offerings

1888-S PCGS MS64+ CAC $1                                                   18892-O PCGS MS64 CAC $1



Global Financial News

The Trump incited stupidity in Washington DC has not impacted financial markets. The DJIA managed a +1% gain on Wednesday to a record 30,829 level while the Nasdaq was down a small fraction. Morning market futures are forecasting another positve open in a few hours. Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan +1.6%. Hong Kong -0.5%. China +0.7%. India -0.2%.

In Europe, at midday, London -0.4%. Paris +0.2%. Frankfurt +0.5%.

Futures at 6:20, Dow +0.3%. S&P +0.5%. Nasdaq +0.6%.

Bitcoin continues its unprecedented rally and is now quoting at $37459/coin. I have no comment at this point other than to warn of being the last person in at the peak. Spot gold prices moved down to $1921 during yesterday afternoon's chaos in Washington and have traded at that level since then. Crude oil pricing continues its slow rally to $50.76/bbl.

Finally, the 10 Year Treasury Bond yield has again increased to 1.04%. Investors continue to expect more stimulus and federal spending under a Biden administration.


Wrapping Up The Blog

I hope that you've enjoyed today's Blog edition. The GFRC office is an exciting numismatic venue as major auctions are prepared in conjunction with regular consignment insourcing and sales.

Yes, I will be in the office the entire day as the ongoing workload is substantial. Incremental Cumberland County image processing is paramount now that Len Augsburger has a description template and is actively evaluating each auction lot. More consignments are arriving on a daily basis and being queued along with new purchases.

Please don't be bashful to call in a purchase or request special descriptions. My top priority is facilitating the sale of consignor coins.

See you on Friday morning for more Daily Blog ramblings.





January 6, 2021

GFRC New Purchases Marquee Offering


Cumberland County's Liberty Seated Half Dollar Set Gallery Quickly Grows


Greetings on a Wednesday morning and welcome to more ramblings from the GFRC Venice office.

As one ages, sleep becomes an important parameter for health. I remember the days at Wuxi CSMC that brought late nights at KTV nightclubs with Asian customers followed by being back in the office the following morning with minimal sleep. This behavior became a lifestyle and I somehow managed a large business with limited sleep and constant jetlag. This is no longer possible as I approach the 65 year old milestone. Last night brought nine hours of sleep after working two late evening on the Cumberland County Collection auction. I feel 100% recharged and ready for another long day in the GFRC office.

On a most positive note is the consignment and new purchase situation. There are over 100 new consigned and some trade coins in the shipping loop. Last evening brought a Capped Bust half dollar set consignment proposal. This new product wave is accelerating the near term completion of the Cumberland County catalog so I can return to regular price list activity. Len Augsburger will receive the description template later today for Seated half dollar dates through 1860. It appears that he is champing at the bit to get started!


GFRC New Purchases Marquee Offering

The first days of the 2021 numismatic market are hot and a continuation of late 2020 orders rates. If counting the Watch Hill Collection auction sale in the January month-to-date tally (all of five days), GFRC has already sold 87 coins! No wonder the shipping queue remains jam-packed with USPS Priority boxes.

Now that I am close to having the first half of the Cumberland County Seated half dollar catalog effort into Len's hands, attention will shift to the presentation of new purchases and sustaining the 30 Day Price List. With red hot demand, GFRC must respond to the opportunity as a replacement for the loss sales from the canceled Winter FUN show.

I am incredibly pleased to be showcasing a marquee highlight from a fresh round of new purchases. There is a certain amount of pride when locating and offering superb early type. Sure, the profit margin is low since having to pay strong for the opportunity to handle this 1798 Large 8 Draped Bust dime. That was understood when adding to inventory. The surfaces are 100% original and pristine. CAC has approved 18 pieces with 8 being at the MS66 grade level. Only 9 pieces are approved in circulated grades with this offering being one of the finest and "affordable" for selective type set collectors. This piece has the classic "Gerry Look". Please enjoy the images and thanks for sharing my pride of ownership. Of course, First Right of Refusals will be accepted.


GFRC New Purchase - Amazing 1798 Draped Bust Dime

1798 Large 8 JR-4 NGC EF40 CAC 10C


Cumberland County's Liberty Seated Half Dollar Set Gallery Quickly Grows

As of Daily Blog publishing time, the Cumberland County Seated half dollar gallery has been expanded up through the 1849 dates. More images will be added by the end of day including the 1878-S headline offering.

I hope that Seated half dollar collectors will enjoy the preview opportunity. Based on feedback from a number of GFRC clients, "ammunition" is being accumulated for the forthcoming auction that takes place at the end of the month.

If you have yet to view the forthcoming Cumberland County offerings, please click on the following banner. Again, the gallery display is a work in progress and may appear a bit untidy based on contruction status and readership viewing time.


CAC Approval Coins Wanted Via Trade or Outright Purchase

Demand for CAC approved coins continues to increase. With 50% of GFRC sales revenue being realized from CAC approved coins, it is necessary to have a robust supply chain to constantly backfill sold coins.

I'm seeking your CAC approved coins for inventory via trade or outright purchase. GFRC will pay strong for your coins as I work on a low overhead and can sell at reasonable margins. CAC approved coins are liquid in today's numismatic market. If needing quick cash or wishing to redirect collecting objectives, I hope that GFRC will come to mind for early type, U.S. gold, and especially Barber coinage. How I would enjoy adding 30-50 CAC approved Barber coins to the price list.


Global Financial News

As I view the Georgia senate election results and tracked financial indices, clarity is difficult to find. European equity markets are showing strong gains while the U.S. markets are mixed. It appears that a strong Biden government will be bad news for Big Tech as Nasdaq futures are down nearly 2 points.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan -0.4%. Hong Kong +0.2%. China +0.6%. India -0.5%.

In Europe, at midday, London +2.5%. Paris +0.9%. Frankfurt +1%.

Futures at 6:20, Dow +0.4%. S&P flat. Nasdaq -1.8%.

Looking at commodities and the long bond, spot gold is consolidating its recent upward move and holding at $1954/oz. Bitcoin continues to race upward with substantial daily increases. This morning's quote is an amazing $35042 and smells of yet another bubble. Just don't be the last person in at the top!

Interestingly, the 10 Year U.S. Treasury bond yield has climbed to 1.01%. What does this mean on the global stage? The U.S. dollar is falling quickly and currently stands at a three year low. This will be a boon to U.S. based export businesses but also a challenge for the U.S. Treasury and refinancing of short term Treasury notes at higher interest rates.

Crude oil has moved above the $50/bbl level. This Seeking Alpha headline explains the OPEC+ production status.

OPEC+ unity. Oil prices jumped on Tuesday after Saudi Arabia pledged to slash another 1M barrels per day in production in February and March, while Russia and Kazakhstan said they would increase their output by a combined 75,000 bpd. Energy shares outperformed all other sectors and rose the most since late November on the news, while Moscow hailed the concession a "new year gift" for the crude markets.

What's happening? On the one hand the kingdom is caught in supply/demand fundamentals, but at the same time, Saudi Oil Minister Prince Abdulaziz painted the decision as some kind of leadership position. He said it was a sovereign political move to support the Saudi economy, members of the OPEC+ group, as well as the wider industry.


Wrapping Up The Blog

There is little else to be said at this point. I must move on to a shower and get back to Cumberland County Seated half dollar catalog preparations.

Thanks for stopping by at the Blog!

With Covid-19 infections still being widespread, please exercise caution when outside of shelter.




January 5, 2021

Still Recovering From the Watch Hill Collection Auction Sale


Cumberland County's Liberty Seated Half Dollar Set Gallery Preview


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


Still Recovering From the Watch Hill Collection Auction Sale

The headlines say it all for this Blog edition. We are still in recovery mode, in terms of shipping, from the Watch Hill Collection Auction Sale.

Monday brought a very long day in the GFRC office that ended at 11:00 PM. Some progress was made on Watch Hill Collection shipping. However, new purchase orders continued to arrive throughout the day and refilled the shipping queue. If I shared a picture of the staged shipping queue, it would not look much different than that of yesterday.

The GFRC office was constantly busy on Monday with a host of phone calls. There were purchase orders along with calls where people wished to chat about the Watch Hill auction sale results. I recognize that clients wish to discuss coins, seek advice on consignments, or just pass the time on the phone. I'm sorry for not being able to conduct extended conversations to provide lengthy advice for poised questions. The 48 to 72 hour period after the close of a major auction brings heightened workload. Many times, I will still be working on tasks while speaking on the phone. Being the sole business operator, if afternoon hours are spent chatting, little else gets done during normal working hours. If little else gets done, my only recourse is to work late into the evenings at the expense of healthy sleep which is what happened yesterday. Please understand that my day starts at 5:00 AM with nearly 2.5 hours allocated for Daily Blog preparation and composition. This time is shared with the entire community as a daily update.

Today brings another heavy shipping day and hopefully, the clearing out of USPS Priority Shipping boxes in the processing queue.


Cumberland County's Liberty Seated Half Dollar Set Gallery Preview

Building the Cumberland County Superb Liberty Seated Half Dollar Collection Sale catalog is a substantial undertaking. Image processing is a time consuming activity. Actually, I truly enjoy this part of the GFRC business. When color matching a processed image to a coin in-hand, there is the opportunity to closely study each coin and enjoy their unique beauty. Fundamentally, this is what the numismatic hobby is all about. My ongoing deliverable is capturing that uniqueness within GFRC imagery. I relished this challenge if being able to focus without interruptions.

Following is the Cumberland County auction sale banner. I have added a temporary link to the auction image gallery that is presently under construction. Please feel free to click on the banner and enjoy the initial images. Each day will bring more coins. However, please understand that the image gallery is a work in progress and may appear a bit disorganized at times. This preview gallery will provide insights to those who are anxiously awaiting the Cumberland County auction and building up their "ammunition" for the sale.


Global Financial News

Equity markets hate uncertainty which is the case for today's run-off elections in Georgia. The drama has been heightened by the usual cable and online media as part of their rating wars. Though Monday opening market futures were positive, the day ended with losses. We appear to be seeing a replay with today morning market futures (courtesy of Seeking Alpha).

In Asia, Japan -0.4%. Hong Kong +0.6%. China +0.7%. India +0.5%.

In Europe, at midday, London +0.2%. Paris -0.2%. Frankfurt -0.2%.

Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.3%.

There is a certain segment of the investor population is that is worried about equities having moved to "bubble levels". When company valuation metrics become too optimistic, downside investment risk increases. With interest rates needing to be kept low due to rapid government debt accumulations, the alternative is gold and silver hard assets plus Bitcoin as the new "investment" darling.

This morning's commodity snapshot indicates monies are pouring into alternate investments. Spot gold prices continued their near term breakout with a quote of $1953/oz. Silver pricing stands at $27.49/oz. Bitcoin has risen to $31483/coin. These numbers are indicative of monies leaving traditional equities and being repositioned or fresh investment money being parked into commodities.

Crude oil pricing has pulled back to $48.32/bbl while the 10 Year U.S. Treasury bond yield continues to be flat at 0.93%


Wrapping Up The Blog

Today brings another long day in the GFRC office. Diane and I will make another attempt to clear out the shipping queue. Afterwards, my attention will be primarily focused on Cumberland County image processing and having a description generation template prepared for Len Augsburger. Given the size of the Cumberland County sale (139 lots), Len and I have agreed to breakdown the catalog preparations into two segments.

With the focus on Cumberland County catalog preparations, I don't anticipate loading new offerings to the price list during the next 24-48 hours.

Purchase orders are always appreciated and immediately serviced.

Thanks for stopping by at the Blog. Please remember to be careful and safe. Florida's Covid-19 case rate shows no signs of slowing down.




January 4, 2021

Recovering From the Watch Hill Collection Auction Sale


GFRC 2020 Stakeholder's Report


Greetings on a Monday morning and welcome to another edition of the Daily Blog.

Venice Florida weather will be cooling during the coming week with highs only approaching 70F. On a positive note, a cooling trend typically brings low humidity and sunny skies. Southern Maine weather looks to be quiet based on the 10 day forecast. Highs will hover around the freezing level with no snowstorms in sight.


Recovering From the Watch Hill Collection Auction Sale

I can't remember a busier Sunday in the GFRC office. After working beyond midnight on Saturday, Sunday's focus was wrapping up the Watch Hill Collection sale accounting and bidder invoicing. The 48 lots that realized reserve were staged in shipping boxes. The balance were promptly loaded to the GFRC price list and Collectors Corner.

Sunday also brought a strong dose of regular inventory orders. There were incremental consignment proposal discussions and at least one consignment shipping label emailed to a client. I am most positive concerning January and February sales based on the Cumberland County and Sunset Liberty Seated half dollar collections that are staged for the GFRC Online Auctions service. Additionally, consignment backlog is quickly accruing with several larger shipments due this week.

The following image is worth a thousand words! The GFRC shipping queue is massive and will be keeping Diane busy during the first half of the week.


GFRC Shipping Queue - Holiday and Watch Hill Auction Sales



GFRC 2020 Stakeholder Report

Starting for the 2019 fiscal year, GFRC issued its first "Stakeholder's Report" via the Daily Blog. I wish to continue this tradition for the 2020 fiscal year.

GFRC enjoyed a fantastic start to the 2020 numismatic year with strong Winter FUN and Atlanta ANA Spring shows. Immediately after the Atlanta ANA, the Covid-19 pandemic arrived and closed down the U.S. national coin show circuit. GFRC shifted its emphasis to online sales and internal operations efficiency improvements.

For those of us who own stock in publicly traded cooperations, the receipt of an annual report takes place after the end of each fiscal year once the company's financials are closed and audited. The company president presents a summary of financial performance and the usual outlook for the coming year.

GFRC is far from a public cooperation, rather a basic Limited Liability Company (LLC). However, GFRC does serve the numismatic public and has a host of stakeholders. I believe that the same larger corporation accountability is warranted regardless of being a small LLC. The GFRC community continued to expand during 2020 with over 200 past and present consignors and countless customers. Accountability is important as a growing number of clients are counting on GFRC's ongoing business prosperity for handling collection duplicates divestment or sadly, the liquidation of a client's coin collection per instructions within their estate. From a market perspective, GFRC has become well known as a leading dealer for both Liberty Seated coinage and United States gold along with CAC approved quality coins.

Private coin dealers don't place their financials or business strategies in the public domain. But then again, GFRC is a far cry from a traditional coin dealer and seeks to work with complete transparency. I believe that transparency builds trust. Trust enables continued business growth. Based on my prior years of semiconductor corporate experience, GFRC is tactically and strategically managed as a large cooperation thought the staffing is diminutive.

It is my pleasure to share the following GFRC 2020 highlights along with several 2020 vs. 2019 fiscal year comparisions in today's Blog.


Overall, GFRC's 2020 sales revenue grew by 29% over that of 2019. This significant performance took place after growing sales revenues by 45% for 2019 as compared to 2018. In two years, GFRC has nearly doubled its sales revenues.

GFRC consignment sales accounted for 79% of 2020 revenues and were a primary driver for yet another successful business year.


Next, let's review sales revenue by major product lines.

GFRC 2020 Sales Revenue Breakdown

Product Lines

2020 % Revenue

2019 % Revenue


Liberty Seated


U.S. Gold


Draped/Capped Bust







GFRC's 2020 sales by major product lines remained nearly constant during the year. I find it fascinating that regardless of substantial growth over a two year period, the allocation of sales by product lines has shown minimal deviations.

During 2020, GFRC continued to ramp the United States gold coinage product line. GFRC was able to capitalize on a strong spot gold price rally though the Covid-19 pandemic eliminate the possibility of European gold sourcing. Unfortunately, Dan White could not travel to western Europe for his three time per year gold buying trips. Regardless of this fact, both Gerry and Dan worked diligently to increase collector gold inventories and sales via domestic sourcing from favorable wholesalers.

Draped and Capped Bust coinage sales also increased on a year-on-year basis as GFRC becomes more aggressive in stocking top quality early type.

Barber coinage sales revenues shrank on a percentage basis during 2020. Let's remember that 2019 brought the sale of the Labelman87 Barber quarter collection when conducting year-on-year comparisons. Stocking quality Barber coins is an ongoing challenge and the primary issue behind 2020 results.

Finally, the "Others" category captures all other product lines in the GFRC portfolio including 20th Century coinage and Morgan dollars. Sales results were flat on a percentage basis.


GFRC 2020 CAC Sales Grow Significantly

2020 % Revenue

2019 % Revenue


CAC Approved


Non CAC Approved


CAC approved coins play an important role in the GFRC business model given my commitment to offering the highest quality coins possible to clients.

During 2020, GFRC maintained its emphasis on CAC sales across all product lines. The sourcing of CAC approved coins at competitive prices remains an ongoing challenge. GFRC was also quite active during 2020 in "making" CAC approved coins to supplement its purchased inventories. Finally, securing CAC approved consignments is conducted by marketing GFRC as a leading retailer of CAC approved coins. There were several notable consignments (Seal Beach, Newtown, Iowa) that contained a substantial number of CAC approved coins. I expect the CAC sales trend to continue during 2021 if CAC approved sourcing can be sustained.


GFRC PCGS 2020 Sales Continue to Grow

PCGS is clearly the market leader for grading United States coins. NGC has limited United States market share with U.S. gold remaining a strong point. GFRC continues to focus on marketing accurately graded coins with CAC approval. Purchased and consigned inventory sales during 2020 were heavily skewed towards PCGS certified coins.

The GFRC raw coin shrinking sales trend persisted during 2020.

GFRC continues to support raw coin sales as a courtesy to larger consignment clients only. I am NOT ACTIVELY purchasing raw coins for sale on the GFRC price list.


2020 % Revenue

2019 % Revenue










In summary, the GFRC business is being strategically managed with distinct product lines and marketing efforts. Sourcing larger consignments remains an ongoing challenge and is being address with the launch of the GFRC Online Auctions service as announced during the 4th quarter of 2020. The availability of larger consignments, during 2021, will have a material impact on forthcoming year sales results.

If existing clients believe that GFRC is provides excellent services, your aid with incremental duplicates divestments or referrals (for larger collections) would be most appreciated.


Global Financial News

Global equity markets and commodities are in rally mode as we start 2021 trading. U.S. market futures are pointing to a reasonably strong market open in a few hours. Europe markets are seeing large increases as the Brexit malaise is finally behind European continent investors. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan -0.7%. Hong Kong +0.9%. China +0.9%. India +0.6%.

In Europe, at midday, London +2.7%. Paris +1.5%. Frankfurt +1.2%.

Futures at 6:20, Dow +0.6%. S&P +0.5%. Nasdaq +0.5%.

Bitcoin has broken through the $30,000 mark during the weekend while spot gold prices have gapped up to $1938/oz. It appears that the spot gold rally is intact with $2000 gold being possible in the next 30-60 days.

Crude oil pricing continues its slow upward climb and is quoting at an even $49/bbl. The 10 Year U.S. Treasury bond yield is flat at 0.93%.

China - U.S. relationships continue to move south as major Chinese corporations are delisted from United States stock exchanges. This Seeking Alpha headlines captures the latest news. Personally, I believe this is an important step for sending Beijing a clear signal that Chinese companies must abide by recognized accounting standards to be listed in international equity markets. Also, let's not forget that major Chinese companies are not independent entities but rather, have a controlling interest from the Beijing Central Government.

The great delisting. China said it will take "necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises" after the NYSE started the process of delisting Chinese telco giants to comply with a U.S. executive order issued in November. Among those facing delisting from the NYSE are China Mobile, China Telecom, and China Unicom Hong Kong, which will be suspended from trading between Jan. 7 and Jan. 11. The executive order has also resulted in a series of companies being removed from indexes compiled by MSCI, S&P Dow Jones Global Indices and FTSE Russell, marking the latest escalation in tensions between the U.S. and China. President Trump further signed a law last month that would kick Chinese companies off American exchanges if they have failed to comply with the U.S. Public Accounting Oversight Board's audits for three years in a row.


Wrapping Up The Blog

The 8:00 AM Daily Blog publishing time has come and gone. Let's wrap up here towards a quick shower and morning shipping. The queue is huge and best to get an early start.

I will be in the office the entire day working on Cumberland County auction lot preparations. Please feel free to call in purchase orders or to discuss a potential consignment.

Thank-you for checking in at the Blog. I hope that you enjoyed today's visit.



January 3, 2021

Watch Hill's Toner Morgan Dollar Set Sale Auction Results


Greetings on foggy Sunday morning here in Venice. Thank-you for stopping by and capturing the latest GFRC news.

I'm a bit tired this morning after working well past midnight to get the Watch Hill Collection auction sale results loaded into the COIN system. With each GFRC auction, the post-auction administration tasks become more efficient but still take time. Roughly three hours of effort to close out an 89 lot auction appears reasonable.

Diane will be issuing auction invoices via email during the later morning hours. By early afternoon, unsold lots will move to the GFRC price list followed by being posted on Collectors Corner. There is still time for post auction purchases of unsold lot before price list migration. Once the unsold lots reach Collectors Corner, I'm expecting incremental sales for this popular denomination and the overall quality of the offerings.


Watch Hill's Toner Morgan Dollar Set Auction Results

As expected, the Watch Hill auction bids reached their crescendo during the final 15 minutes of the sale.

My vintage point for watching the final hour was Google Analytics and its Realtime website monitoring function. The Realtime monitoring function is equivalent to being in a brick-and-mortar shop and being able to physically see every customer and their purchases at the checkout counter. With Realtime monitoring, I was able to observe the number of website users and the placement of individual bids. There was one substantial observation as Realtime also provides a geographical mapping of each bidder location. I'm not planning to share this observation as this is GFRC competitive intelligence for future marketing strategies.

Ok, back to the Watch Hill auction results.

Total sales amounted to a few dollar shy of $29,000 across 43 lots. I'm pleased with a nearly 50% sales rate when considering that Morgan dollars are not a primary GFRC product lines. Many bidders were new faces to the GFRC business which was the expectation. The GreySheet Publishing email blast worked as intended and exposed the GFRC auction platform to many new collectors and at least one dealer who was active in the auction.

Please note that the winning bid for the 1891-CC PCGS MS64 CAC dollar was $3000 and not $5000 as current shown. A new individual was aggressively bidding against himself with multiple maximum bids. GFRC made the appropriate adjustment after reviewing the bids from two individuals on the coin.

Once again, the unsold coins will be migrating to the GFRC price list during the early afternoon hours at the auction reserve prices.


Consignments and New Purchases Upcoming

Now that the Watch Hill Toner Morgan Dollar Set Sale is in the GFRC history books, my attention is two-fold.

First priority is ramping online catalog preparations for the upcoming Cumberland County's Superb Liberty Seated Half Dollar Collection Sale. Within a week's time, a 139 lot description template must be ready for Len Augsburger. The image processing workload is substantial and will require days of effort.

Second priority is maintain an even flow of new purchase and consignment offerings to the 30 Day Price List. A substantial new purchases lot is due to arrive early this coming week along with a returning CAC submission that contains some freshly graded new offerings.

As is typical when GFRC makes a plea for incremental consignments, clients will respond. I'm anticipating the arrival of nearly 100 consigned coins during the next week or so.


Wrapping Up The Blog

Let's end this Blog edition here.

I will be working in the GFRC office most of the day other than the usual health walks and maybe a nap to recharge some tired batteries.

Thanks again for stopping by at the Blog.




January 2, 2021

Watch Hill's Toner Morgan Dollar Set Auction Closes at 9:00 PM ET


First New Offerings of 2021!



Greetings and welcome to another edition of the Blog. Thank-you for checking in on a Saturday morning.

The arrival of January 2nd brings the final day of the Watch Hill Toner Morgan Dollar Set auction sale among other GFRC activities. I'm looking forward to a frantic last few hours of bidding come early evening.

Could not be any better is best to describe Venice New Year day weather. The afternoon temperature peaked at 80F with Diane heading to the HOA clubhouse and pool while I photographed a second installment of the Cumberland County Superb Liberty Seated Half Dollar Collection.

New Years Day also brought a few sales and one trade that will be posted to the top of the 30 Day Price List shortly. A fresh consignment proposal also arrived. Late afternoon brought more image processing towards posting the first new offerings of 2021.


Watch Hill's Toner Morgan Dollar Set Auction Closes at 9:00 PM ET

Patience and trusting the GFRC auction sale process are advised to consignors when experiencing a week long online auction. Human nature is predictable including collector bidding strategies. Some collectors are fearless and will place substantial maximum bids when an auction opens. Others wish to lurk in the background checking their targeted lots for bidding activities. Some collectors can't resist the posted lots and will place their bids throughout the week. All that matters is that a collector has the highest bid at 9:00 PM ET today for taking one or more Watch Hill Morgan dollars home.

Bidding velocity increased on Friday with 31 lots having bids by end of day. My expectation is for increased bidding come the mid afternoon hours. The final hour of any GFRC Online Auction is the most fun and intense. I will typically sit back at the laptop with a post dinner beverage and relax while bidding elevates to the predictable frenzy during the closing minutes.

The Watch Hill's Toner Morgan Dollar Set auction sale is an opportunity for Morgan enthusiasts to acquire three different types of surfaces and preservation conditions. Have you noticed this fact? If not, please allow me to explain. Look carefully within the Watch Hill set, I see a host of beautifully toned Morgans, several Deep Mirrored Proof Like (DMPL pronounced dimple), and natural coin gray circulated key dates. This auction has something for every Morgan dollar collection along with a host of CAC approvals. Here is a graphic display of the three types of surfaces and preservation states.


Exceptional Morgan Toners

1881-S NGC MS64 Star CAC $1                                                    1882-S PCGS MS66 $1   


1883-O PCGS MS64 CAC $1                                                         1884 PCGS MS64 $1  


1891-CC PCGS MS64 CAC $1                                                    1896 PCGS MS64 CAC $1



Deep Mirror Proof Like Morgans

1881-O PCGS MS64DMPL CAC $1                                              1885 PCGS MS64+DMPL $1    



Natural Coin Gray Key Dates

1889-CC PCGS VF20 CAC $1                                                    1893-S PCGS VG10 CAC $1


1895-O PCGS F15 CAC $1                                                        1895-S PCGS F12 CAC $1



Good luck to those who will be bidding during the final hours. The Watch Hill consignor will also be online enjoying the final moments of his wonderfully assembled collection.

On Sunday morning, Diane and I will tally the bidding results and will issue auction lot invoices for payment. GFRC Quick Ships will take place on Tuesday as we are already holding a large shipping queue for Monday January 4th.


First New Offerings of 2021!

One of the immediate challenges when launching the GFRC Online Auctions service is finding operational balance between the preparation of large auction lots while maintaining a steady flow of new offerings onto the 30 Day Price List.

Last evening brought a new offerings image processing session that showcases coins from the Rascal and the Osprey Collection. Let's have a closer look at these fresh offerings.

Dan White brings us a rare 1866 dime from an old New England estate that has been freshly graded. I'm sure that someone could use this piece to fill one of the perpetual holes in date and mintmark set collection. The Civil War Philadelphia dates are always challenging to local with problem free surfaces and acceptable eye appeal. Also from the same estate is a circulated cameo 1800 Draped Bust dollar that is most attractive. The VF Details grade is related to rim nicks. The primary surfaces are original and problem free.

Moving further into this lot brings more plate coins from The Definitive Resource for Liberty Seated Dime Variety Collectors, yes the web-book. I'm selling more plate coins to cover the John Deere 2025R compact tractor cost. This process is a reminder of the liquidity of quality of early type. In my case, these coins have served me well when assembling the Seated Dime die variety reference. Now, their value is being converted to a new pursuit in my life; becoming an experienced excavator operator.

Please check back at the 30 Day Price List during later afternoon hours to find the posting of this new offerings. Who knows, I might be loading these during the last two hours of the Watch Hill Morgan dollar auction sale.

First New Offerings of 2021!

1866 F-102a PCGS EF45 10C                                                      1800 PCGS VF Details $1


 1838 ND F-106a PCGS VF30 10C                  1841 F-104a PCGS EF45 10C                     1857-O F-102 NGC MS62 10C   


1886 F-113 PCGS MS65 CAC 10C                 1891 DDO F-109 PCGS AU55 10C                     1878 PCGS AU58 10C           



Wrapping Up The Blog

Now that the New Year holiday is in the history books, it is back to a regular office presence. I will be in the GFRC office throughout the day or outdoors conducting more Cumberland Collection photography and a health walk. Life is simple and predictable when minimizing person to person social contacts.

Please don't be bashful with purchase orders or consignment proposals. At the moment, the March 2021 timeframe is available for the next major GFRC Online Auction event. Please be aware that I will be slowing down the GFRC business come June timeframe to enable more time in the back acreage and cutting the last of the walking trails.

Again, thanks for checking in at the Blog. Be safe and be well.




January 1, 2021

Happy New Year 2021!

Announcing Cumberland County's Superb Liberty Seated Half Dollar Set Sale


Watch Hill's Toner Morgan Dollar Set Auction Closes Saturday 9:00 PM ET


Calendar 2021 has arrived. I wish to be positive for the coming numismatic year, however a morning check of Florida daily Covid-19 cases is disheartening. Case rates have climbed to 15,000 daily with roughly 200 per day here in Sarasota county. A very sobering statistic is that half of the Sarasota county hospitalizations have resulted in death. With reports of a more contagious strain appearing in the U.S., the national coin show schedule is a complete unknown.

The Fortins continue to stay in partial isolation with short trips limited to purchasing groceries and drop-off of daily GFRC shipments. New Year's Eve was spent grilling sausages followed by a dinner in the lanai as outdoor evening temperature was comfortable. Therefore 2021 starts as a continuum to 2020. My optimism for national coin show restarting by June may be in question. The GFRC business will be structured for 2021 with an assumption that coin shows will not restart until late summer or early fall.

Last evening brought a Zoom call with the Yamatins in Beijing. Matt, Chikae, and Natsumi are doing well and shared how the Chinese government is handling the Covid-19 situation. The government is leveraging the fact that every citizen has a cellphone with GPS tracking. Individals must download an app that processes their movement throughout a city or the mainland. The app tracks their movement through zones. The app will display green or red placard based on risk levels. If a citizen has not moved through a high risk zone, the app will flash green. If a citizen's movement has been through a risk area with a reported Covid-19 case, the app will show red. Many buildings and businesses will require that individuals show their "Covid-19" risk status to entrance guards before being allowed to enter.

If a substantial Covid-19 outbreak takes place in a zone, individuals must be tested before being allowed movement. Citizen compliance is paramount for enforcing these protocols.

With this technology and compliance intense system, schools and business are open. The system counts on very rapid time to detection and isolation of those who might have come in contact with a Covid-19 positive individual. The upcoming Lunar New Year timeframe (late January through mid February) brings a special challenge due to mass citizen migrations from cities to their home towns in the countryside.

It is well recognized that Blog readers hope to find numismatic content when visiting. However, I thought it was important to share how an alternative Covid-19 pandemic management system is being conducted.

Now back to numismatic news to start 2021.


Announcing Cumberland County's Superb Liberty Seated Half Dollar Set Sale

I could not be more pleased to formally announce the forthcoming Cumberland County's Superb Liberty Seated Half Dollar Set Sale to kick off the 2021 numismatic calendar. The new auction marketing banner has been completed and is posted at the Auction link along with the www.seateddimevarieties.com homepage. Below is that banner.

The Cumberland County auction sale schedule has been defined with myself and Len Augsburger committed to publishing the full 139 lot online catalog by January 16. The auction sale will open on January 23 at 9:00 PM ET and close one week later on January 30 at the same evening time. Come January 25, GFRC will be issuing a GreySheet Publishing email blast to remind the national numismatic community that the Cumberland County auction sale has opened.


Following is a GFRC Press Release that will be sent to major numismatic publications and clubs.


GFRC Online Auctions Press Release
January 31, 2020

Subject: Cumberland County’s Superb Liberty Seated Half Dollar Collection Sale

GFRC Online Auctions, a new online auction service managed by Gerry Fortin Rare Coins, is pleased to announce the forthcoming sale of a superbly completed Liberty Seated Half Dollar Collection.  The consignors, a husband and wife collecting team, are well known on the GFRC website and branded as the Cumberland County Collection.

Auction Sale Schedule

This Liberty Seated Half Dollar Collection sale includes all dates and mintmarks plus major die varieties and finally, both Scott Restrikes. Grades are cluster at the AU grade level and bring a noteworthy acquisition and upgrading opportunity for Liberty Seated half dollar collectors.  Following are important highlights.

The Cumberland County’s Superb Liberty Seated Half Dollar Collection Sale catalog will be available at the GFRC Online Auctions website on January 16th.  Please bookmark the following link to gain access to this wonderful forthcoming auction.  https://www.seateddimevarieties.com/Auctionguide.html

For additional information, please contact Gerry Fortin. 


Watch Hill's Toner Morgan Collection Sale Closes on Saturday 9:00 PM ET

As the 2021 New Year arrives, the Watch Hill Toner Morgan Collection Sale will be coming to a close on Saturday evening. Hopefully, Blog readers will find time today to visit the catalog and fall in love with several of the beautifully toned offerings or natural coin gray key dates.

Following are several lots that have yet to secure a bid.

1878 8TF VAM 14.2 PCGS MS64 CAC $1                                           1879-S PCGS MS65 CAC $1         


1881-O PCGS MS64DMPL CAC $1                                                  1890 PCGS MS64 CAC $1       



Consignments Being Solicited for Q1'2021

As 2021 begins with a pandemic that remains severe, all major numismatic business will be vying for new sources of inventory. GFRC is no different, and is developing a business plan with an assumption that coin shows will not appear until August/September timeframe.

The U.S. coin market will remain robust given the self imposed isolation of many Baby Boomers. The numismatic hobby is an important activity for many in lieu of outgoing social mobility. Collectors are finding hobby enjoyment via upgrading existing collections or starting a new collecting initiative. Online hobby access will be the primary conduit for enjoying one's hobby.

GFRC is well positioned with its broad based online presence and a host of viewing options. Key will be the ability to continually locate and source fresh inventory to support our clientelle. Posting new coins to Daily Blog as gallery presentations and to the price list is the operating imperative.

All I can ask is for your support. Please consider recycling duplicates via GFRC towards raising new hobby capital. If planning to release a substantial collection to the marketplace, I would enjoy discussing how GFRC can provide a unique marketing and sales experience for your cherished coins. GFRC's service and numismatic expertise hopefully will be consisered during a decision process.


GFRC 2020 Stakeholder's Report Forthcoming

Back in January 2020, I published a GFRC Stakeholder's Report in the Blog. My plan is to conduct the same set of calculations when comparing 2020 versus 2019 sales results. Already, I am able to share that GFRC 2020 sales revenue grew by 29% over 2019.

The GFRC 202 Stakeholder's Report will be published in the Blog within a few days. Please make a point of checking in to learn the details behind this ongoing start-up business.


Wrapping Up The Blog

Yes, today is the New Year holiday but this is little else to do given self isolation. I can watch more John Deere tractor videos on YouTube or read a book. The alternative is processing some lovely Cumberland County Liberty Seated half dollar collection images. Those who know me well will understand that I will be working in the GFRC office today. Yes, a health walk with weights goes without saying.

Thank-you for making the Daily Blog a numismatic habit and daily online destination. Please remember to be cautious and safe. We are not out of the Covid-19 woods yet.




December 31, 2020

Watch Hill's Toner Morgan Dollar Set Auction Update


Surfaces or Grade for Long Term Holdings?


Greetings and welcome to the Blog on the final day of 2020.

This Blog edition is written with mixed feeling concerning 2020. The Covid-19 pandemic has upended many lives including those that we have lost to the virus. Some families have remained separated with elderly parents isolated. Small businesses that rely on person to person social contacts have been impacted or worse, have closed. The online behemoths have accelerated their market share gains at the expense of the brick and mortal retailers.

Investors went on a wide ride during 2020. March brought a huge investor panic followed by record market levels in December. Gold, silver and bitcoin rallied to new levels.

2020 also brought an election year with a divided electorate. The political landscape was full of vitrol and huge amounts of special interest monies. The national television and cable media biases were exposed. There were riots, looting, and burning of mom and pop businesses in the name of racial justice.

Closer to home, Covid1-19 has also brought lows and highs. My early February trip to China was canceled once the extent of Covid-19 became apparent. Lost are contacts with a host of China based long term friends and clients. The Fortin family Christmas and New Year reunion was impossible this year due to the need for caution and self isolation. Thank-goodness I was able to visit with Renee, Mike, and Ivy during early February at their Austin home. Matt, Chikae, and Natsumi found shelter in Tokyo while the Chinese government brought Covid-19 under control within the mainland.

The GFRC business experienced an exceptional year as the numismatic landscape was turned upside down. Coin shows closed down with the February Atlanta ANA being the last major show of 2020. Collectors moved online during long periods of isolation. Those dealers with well developed online presence did well this year. Those that relied on coin shows or coin shop buying did not. As a national coin show dealer, I could feel the heartbreak of the Whitman and FUN staffs as one show after another was canceled.

During early 2020, I published an essay in the Daily Blog concerning the development of a Die Variety Marketplace Vision and construction of a special die variety online publishing platform. Well, that vision remains intact but without progress thanks to Coivd-19. The Beijing development team to be guided by Matt was scattered to the wind by the Wuhan pandemic.

What will 2021 bring? Probably more of the same moving through late spring. Hopefully, the national coin show circuit will restart during the June/July timeframe. Let's hope for a return to normal during 2021. However, what will the "new normal" bring?


Watch Hill's Toner Morgan Dollar Set Auction Update

The Watch Hill Collection auction of wonderfully toned Morgan dollars is moving towards its climax on Saturday. Bidding is increasing with 18 lots now meeting reserve and the finest offerings seeing multiple bids. The sale offering is 90 lots; there is still a long way to go. Hopefully, more individuals will place their bids today.

Like every online auction, the true outcome will be evident come Saturday evening. I've spoken with a number of GFRC clients who are holding back their bidding until the final hour of the sale.

Lots that are not sold at auction will be immediately placed on the GFRC price list and uploaded to Collectors Corner on Sunday.


Surfaces or Grade for Long Term Holdings?

This topic is food for numismatic thought.

Which would you prefer to own? A complete set of AU58 graded coins or a complete set of AU53 through AU58 coins with CAC approval? Please consider this question carefully. There is no right or wrong answer as collecting goals are individually set and pursued.

A complete set of AU58 graded coins would be ideal for a TPG Set Registry and a source of pride with a top ranking. A complete set of AU53 through AU58 coins with CAC approval would not achieve top ranking.

A complete set of AU53 through AU58 coins with CAC approval would most likely have uniform natural surfaces and coloring. Originality would be guaranteed.

Which would I rather own?

The answer should be obvious based on the contents of my core Liberty Seated Dime collection. My choice would be the AU53 through AU58 set with CAC approval. Why? Simply said, I collect coins and not TPG labels. Surfaces and strike are much more important than a one time TPG grading opinion. Many coins are resubmitted multiple times to secure the best possible grade and monies based on that max'ed out grade.

Let's ask another question. Which would you rather own? A conservatively graded coin with considerable eye appeal or a coin that is fully graded with average surfaces and eye appeal. This dear readers is the question that every collector should be asking themselves when making a purchase during 2021.

Which will be a better long term financial holding?

I'll let you ponder and consider this question. I'm convinced of the answer and collecting accordingly....


Global Financial News

Seeking Alpha has written its perspective of 2020. The composition is worth sharing given its global economic viewpoint.

An unforgetable 2020

There was no shortage of coronavirus headlines in 2020 and the economic shocks from the pandemic are likely to reverberate for the foreseeable future.

Big government staged a comeback, where it became the norm to supplement employee wages and offer direct payments for their citizens. A big rethink in economics also changed minds about public debt, with federal deficits ballooning as central banks jumped back into the money printing business and interest rates notched record lows.

Shocks hit supply chains across the globe and made businesses and governments even more skeptical on their reliance on China. Things were even tougher on the domestic front. Low-paying work in services, where there's more face-to-face contact, took a gigantic hit, while higher up the income ladder, remote offices became commonplace. Stocks markets meanwhile returned with a vigor that many thought would take years.

With planes grounded and travel at a near halt, Big Oil felt a real threat that the world was getting serious about the climate. Crude prices shockingly went negative at one point as people stayed home under lockdowns, giving impetus to the phase-out of fossil fuels, while California announced plans to ban the sale of new gasoline and diesel cars by 2035, along with many European countries. Eight oil majors even announced an agreement to apply a common set of "energy transition principles" across their businesses, including a commitment to industry decarbonization, and President-elect Joe Biden promised to rejoin the Paris climate accords.


Morning market futures are mostly flat as everyone is pleased to say goodbye to 2020.

In Asia, Japan closed. Hong Kong closed. China +1.7%. India flat.

In Europe, at midday, London -1.1%. Paris -0.1%. Frankfurt -0.3%.

Futures at 6:20, Dow flat. S&P flat. Nasdaq +0.1%.


Spot gold pricing is making an attempt to recover the $1900 level with a morning quote of $1897/oz. Crude oil is down slightly to $48.13/bbl. Bitcoin continues to roll along to new heights at $28995/coin. The 10 Year U.S. Treasury bond yield stands at 0.93%.


One final thought for 2020; be wary of allowing government control to increasingly permeat into our lives. Just ask Chinese business mogul Jack Ma and his challenges with the Beijing Central Government as captured by this Seeking Alpha headline.

Jack Ma crackdown. Earlier this week, the WSJ reported that Chinese regulators were looking to trim the empire of former Alibaba chairman Jack Ma, who is also the controlling owner of fintech giant Ant Group. Reuters sources now say regulators are looking into the equity investments of Ant Group for any rules violations including anti-monopoly actions. The investments include dozens of companies, mostly in the technology and fintech space. Backdrop: In October, Ma reportedly publicly criticized regulators for stifling innovation, and days later, regulators cancelled the record-breaking $37B Ant Group IPO.


Wrapping Up The Blog

New Year's Eve brings another regular day in the GFRC office. My attention is wholly focused on Cumberland County Liberty Seated half dollar auction preparations. Come the weekend, I will be announcing the auction sale schedule.

Your final orders of 2020 will be gratefully appreciated.

A sincere thanks goes out to every GFRC customer, client, and consignment for your support during a turbulent 2020. 2021 has to be better.

Please remember to be careful and safe if going out for New Year's Eve celebrations.





December 30, 2020

Processing Cumberland County Liberty Seated Half Dollar Images


Watch Hill's Toner Morgan Dollar Set Sale Update


Greetings and welcome to another Daily Blog edition. The unexceptional 2020 year will soon be in the history books. Unfortunately, it will be a long chapter.

Bob Jackman, my local John Deere salesperson, brought good news on Tuesday. The ordered JD2025R compact tractor has been schedule for a March 1 delivery to Hall Implement in Windham, Maine. Hall will add the third function hydraulics to the front loader (grapple usage) and hold the tractor for the spring arrival to Maine homestead. With June being one of the slower months of the numismatic year, you can bet that I will be working on a host of projects in the back acreage.

The national coin show circuit continues to be on hold. Yesterday brought a Christmas card from the Whitman Baltimore show staff. If there is one venue that I miss attending, it is the Whitman Baltimore shows held three times per year. Will Whitman be able to restart their Summer Show during June timeframe? How about the FUN staff and their Summer show during early to mid July. Without an active coin show circuit, I'm afraid that some dealers without strong online presence will not survive the Covid-19 pandemic impact. Sourcing fresh coins is becoming more challenging by the month.

GFRC's consignment queue is also becoming quite thin. The Palos Verdes Collection consignment, now completely posted, was the last substantial consignment in backlog. Remaining are more Twin Lakes Lincoln cents and lower priced raw Liberty Seated dime from the Indiana Collection. My CAC shipment to Far Hills NJ has been delayed and hopefully will arrive today. The New Year holiday period will lengthen the submission turnaround time.

On a positive note, the slow consignment environment allows time to focus on the GFRC Online Auctions business start-up.


Processing Cumberland County Liberty Seated Half Dollar Images

Tuesday brought my attention to the forthcoming Cumberland County Liberty Seated Half Dollar Collection Sale. Preparing a complete set of Liberty Seated halves plus the major varieties and restrikes will be a pleasurable undertaking. Here is a screen capture of the early date Cumberland County images while being processed.

Cumberland County Seated Half Dollar Image Processing


Several GFRC clients have already commented that they are stockpiling "ammunition" for aggressive bidding in the upcoming Cumberland County auction sale. These individuals are wise. A complete set of higher circulated grade Liberty Seated halves infrequently comes to market. It was nearly a year ago that GFRC sold the incredible Seal Beach Liberty Seated Half Dollar Collection via fixed price list.


Watch Hill's Toner Morgan Dollar Set Sale Update

Bidding momentum is appearing for the Watch Hill Morgan dollars. Tuesday brought more bids from collectors previously unknown to GFRC. Bidding patterns are starting to emerge with the following gem examples receiving multiple bids.

1881-S NGC MS64 Star CAC $1                                                    1884 PCGS MS64 $1


1891-CC PCGS MS64 CAC $1                                                    1896 PCGS MS64 CAC $1



Resting quietly are some wonderful circulated better dates without bids. If building a Morgan dollar set as a background project, these CAC approved dollars would be excellent additions. If not loved and failing to meet reserves, these will migrate to the GFRC price list and Collectors Corner. Once on Collectors Corner, they should promptly find new homes as ideal pieces with natural coin gray eye appeal.


1889-CC PCGS VF20 CAC $1                                                    1893-S PCGS VG10 CAC $1


1895-O PCGS F15 CAC $1                                                        1895-S PCGS F12 CAC $1



Global Financial News

The Santa Claus rally appears to be underway based on morning market futures. Once again, all global markets, other than Japan, are poised for more fractional gains. Commodities and the long bond interest rate are flat. Here are market futures courtesy of Seeking Alpha.

In Asia, Japan -0.5%. Hong Kong +2.2%. China +1.1%. India +0.3%.

In Europe, at midday, London +0.2%. Paris +0.2%. Frankfurt +0.2%.

Futures at 6:20, Dow +0.4%. S&P +0.4%. Nasdaq +0.4%.

Spot gold has moved into a tight trading range and is flat to yesterday at $1884/oz. Ditto for crude oil which is quoting at $48.41/bbl. The 10 Year U.S. Treasury bond yield stands at 0.95%.


Wrapping Up The Blog

Today brings another GFRC office day. With just two days left in 2020, GFRC is close to reaching a huge sales milestone but will probably end up a tad shy. If not responding to sales orders, my attention will be on Cumberland County Seated half dollar image processing.

Undoubtedly, consignment proposals would be most welcomed.

Thanks for making the Daily Blog a regular part of a day's numismatic reading. As always, please remember to be careful and safe.




December 29, 2020

Great Response to GreySheet Email Blast


Feedback on The CAC Approval Dilemma


Greetings on a Tuesday morning and welcome to another edition of the Daily Blog. A sincere welcome goes out to those who may have visited the Blog for the first time on Monday.

Monday was one of those days where I left the GFRC office for only three reasons; securing food, bathroom breaks, and a glass of late afternoon scotch. Ok, I also took a shower!

The day started with the usual morning Blog and delving into the weeds with The CAC Approval Delimma composition. This topic was spontaneous and a reaction to the ongoing CAC approval "opinion" questions that are ultimately used by clients in their purchasing decisions. After rambling on that topic and proof reading the latest Blog edition, it was time to position yet more morning shipping for Diane beyond that completed on Sunday. Yes, the Sunset Collection Liberty Seated halves (upcoming February GFRC Online Auctions) are on their way to Far Hills, NJ along with much of a recent PCGS submission. Let's say a few prayers and hope for the best during the upcoming CAC review.

Once the morning shipping was staged, much of the Palos Verdes Collection consignment was posted to the price list. By 11:30 am, Dan White called to report that the GFRC email blast had arrived to his Inbox. The sender was GreySheet rather than the expected CDN Publishing. A quick inquiry to Billie at CDN confirmed that an email sender labeling change had taken place last week. CDN believes that email blast receipents will be more inclined to open emails from the "GreySheet" rather than "CDN Publishing Partners".

As lunch time arrived, I could immediately feel the impact of the GreySheet's email blast. GFRC website registrations started to appear. Before long, there were phone calls from individuals wishing to register to bid in the Watch Hill Collection auction. By mid-afternoon, the office went crazy with multiple phone calls including more registrations and orders. Diane walked into the office with a new HP Laserjet toner catridge that had just arrived for today's USPS label printing. I looked at her with a smile and stated, "Isn't it great when things work out as expected.". Yes, the GreySheet email blast brought the desired outcome. Watch Hill Collection auction bidding has improved but there is still many unattached lots at the moment. Please consider taking one of these beautiful toner Morgans home to your collection.

By 5:00 PM, it was time for a tiny glass of scotch (yeah right) and the last major event of the day. GFRC spent several hours working on a substantial new purchases deal with a special dealer friend. After a quick dinner, the deal was finalized. I could not be more pleased with the forthcoming new offerings for the GFRC price list.

Yet another day in a numismatic life....


Great Response to GreySheet Email Blast

As mentioned in the opening monologue, I am pleased with the initial response to GFRC's first email blast.

The email blast raised GFRC's visibility in the numismatic marketplace. The impact can be quantified by a review of Google Analytics and Alexa.com trendcharts. Monday's overall website hit rate was at record level as new indiviudals reviewed the Watch Hill Collection auction lots and visited the Daily Blog. My Alexa.com internet ranking also reached yet another record level on Monday for international and U.S. website traffic.

Most important are the new contacts and fun phone conversations with individuals who discovered GFRC for the first time. Some made purchases while others placed bids.


Feedback on CAC Approval Dilemma

I knew that I was stirring the pot when writing The CAC Approval Dilemma article in Monday's Blog edition but did it anyways. There are secrets in the coin business that are not often placed into writing. Those sccrets or lessons learned should be shared to help new collectors navigate the many "certification" and "approval" options. Rose colored glasses should come off quickly as the numismatic hobby is a complicated environment. I believe that rapid learnings will lead to less newbie mistakes and increased longevity for individuals that decided to pursue the Hobby of Kings.

Following are excerpts from email feedback on The CAC Approval Dilemma topic. Let's open with commentary from the Running Boar Collection consignor. This individual, with GFRC's support, has systematically overhauled his numismatic collection and is much more positive about his current holdings.

I wanted to comment on today's blog concerning CAC. You're right - it's just another opinion like PCGS or NGC. My advice to collectors is the following.

1) Understand the limitations of how you decide to collect. Building a date or variety set requires compromise. With 19th century type, the coin market is not a supermarket. You play or pass on what crosses your path, leading to point 2.

2) If you want only CAC coins, then stick to looking at those that have been "anointed." I overhauled my collection and only kept or added coins that met my strict self imposed standards and collecting objectives. This has revolutionized my approach. While I still look at a lot of coins, my mindset is completely different.

3) Research, research, research. This can not be emphasized enough. Know the terrain on which you decide to do battle. Information is power and leads to greater satisfaction.

Feel free to use these points if they help you "enlighten" your audience.

I can always counted on the Tenafly Collection consignor to bring his real estate appraisal perspective into the numismatic fray.

Excellent take of the CAC dilemma in this a.m.'s blog. I especially enjoyed, "I will buy the coin conditional on CAC approval". Reminds me of the "old days" of real estate appraisal when the lenders would say (paraphrased) "We need this appraisal contingent on our specific value". When those appraisal orders were faxed (!) to me, they immediately went into the garbage can next to the fax machine. Fortunately, in 2010 or so the Dodd-Frank Act (U.S. Government's banking response to the "recession" of '08) disallowed contingent values for appraisals. 

A greater New York City area client wrote the following concerning USPS holiday shipment delays and could not resist pulling my chain for fun.

Nearly 2 weeks later, I finally got this coin in the mail. It spent over a week in Jersey City...checking out the skyline and sites.

It's very nice...thank you!  Do you think it will CAC or did you send it to CAC?

I hope you and your family had a Merry Christmas!


GFRC Buys Out Two Port Matilda Collection Consignments with Reduced Prices

During Monday afternoon, the Port Matilda Collection purchased the gem 1806 PCGS EF40 CAC Draped Bust half from the Palos Verdes Collection consignment. To bring about the purchase, GFRC bought out two Port Matilda consigned coins. Following are those two coins that have seen a pricing reduction. These quality offerings are currently listed at the top of the 30 Day Price List.

         1885 PCGS MS65BN CAC 1C                                          1809 III Edge O-107 PCGS EF45 CAC 50C



Tuesday's GFRC Office Happenings

Today's first prioirty is placing the balance of the Palos Verdes Collection consignment onto the price list. Already, purchase orders are appearing for Monday's posted offerings.

The balance of the day will be focused on the Cumberland County Liberty Seated Half Dollar Set auction sale and image processing. There are days of image processing in front of me towards building a magnificent auction gallery. Once the gallery is complete, Len Augsburger can step in and prepare his authoritative descriptions.


Global Financial News

New U.S. equity market records were set on Monday along with today's morning market futures positioned for incremental gains. This Seeking Alpha headline and analysis communications the risks and remaining rewards for U.S. investors.

Record Highs. More stock records seem to be in store for today, with futures ahead by 0.5%, after the signing of a COVID relief bill that lifted reopening plays like cruise lines, airlines and casinos. Megacaps led the major averages on Monday, while nine of the 11 S&P sectors ended in the green amid continuing support for the Santa Claus rally.

"The market right now is clearly foaming at the mouth," said Charlie McElligott, a market analyst with Nomura Securities, though the rapid gains seen this year are dividing some investors on how to proceed in 2021. The S&P 500 is up 15.6% for the year and the Dow has advanced 6.5%, while the Nasdaq has soared more than 43% despite the pandemic.

The bears: Ominous parallels have been made between this market and the internet bubble, and a correction could at least be in the cards. Valuations are also stretched beyond memory with margin debt at records, while traditional stock metrics and fundamentals have gone out the window. Runaway shares for recent IPOs like DoorDash, Airbnb and Snowflake could additionally cause some alarm, especially when the companies aren't profitable and CEOs express bewilderment over their stock prices.

The bulls: Assurance from the Fed that it will continue easy money policies, keeping markets stable and interest rates low. Retails investors, who have piled into the market this year, also seem to be a driving force for the market's upward trajectory. The contentious presidential election is now over and a national vaccine rollout further signals the start of an eventual return to normal.

Does the old Warren Buffett maxim still hold true? "Be fearful when others are greedy, and greedy when others are fearful."

Following are global equity market futures courtesy of Seeking Alpha.

In Asia, Japan +2.7%. Hong Kong +1%. China -0.5%. India +0.6%.

In Europe, at midday, London +2.2%. Paris +0.4%. Frankfurt +0.4%.

Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.5%.

Looking into the commodity space and long bond interest rates, we find crude oil quoting at $48.29/bbl while spot gold continues to trade in a tight trading range. Gold's morning quote is $1883/oz. Bitcoin is priced at an amazing $26809/coin. The 10 Year U.S. Treasury yield is mostly flat at 0.94%.


Wrapping Up The Blog

Again, thanks for checking in at the Blog on a Tuesday.

I will be in the office the entire day working away on projects and looking forward to your year ending purchase orders.

Please remember that the GFRC consignment queue is very thin going into January 2021. Your consignor proposals would be gratefully appreciated.

Finally, please be safe and well. We will get through the Covid-19 pandemic at some point during 2021.




December 28, 2020

The CAC Approval Dilemma


Latest Palos Verdes Collection Client Gallery Arrives



Greetings and welcome to ongoing Daily Blog ramblings. The end of 2020 is quickly approaching!

Another week starts in the GFRC office with an early morning Chinese take-out breakfast. Actually, I could eat Chinese food most any time and a reminder of the years spent in Asia. Do I miss living in China? Certainly! With the Year of the Ox celebrations arriving in February, memories of the many Chinese Spring Festival celebrations will be cherished including the endless holiday parties and Chinese New Year Eve fireworks events in the streets.

Actually, I am still holding a large coin order that was due to be delivered to Harry, Ricky, Mr. Sun, and other Shanghai customers during February of this year. My trip was canceled in late January as it become apparent that this new coronavirus that originated in Wuhan was quickly spreading throughout China. Just last week, I checked in on Harry with all being well with him.

Yes, I am looking forward to heading back to Shanghai once Covid-19 is under control and regular international flights resume. Who knows when that day will come? Also what visa restrictions and hurdles will be imposed by the Chinese government given the degraded relationship with U.S.?


The CAC Approval Dilemma

Let's sound off a bit on CAC approval in today's Blog edition.

Do Blog readers understand how often I am asked two questions with respect to CAC approval? Those questions are 1) Will it be CAC approved, and/or 2) Has it been to CAC for review? This discussion is aimed at those customers who repeatedly ask these questions during purchases. If the shoe fits, please wear it.

Following are a few operating GFRC assumptions towards keeping my sanity with respect to CAC green beans. I hope Blog readers will also stop and consider these points before asking "Will it be CAC approved?"

- One must assume that every coin that appears at a major Heritage or Stacks auction has been to CAC for review. Why would an auction firm be so foolish as to not submit coins to CAC as part of the auction sales process? Actually, the word irresponsible might be more appropriate given premiums awarded to CAC approved coins.

- Unless an old time collection arrives to market from years of storage in a bank box, a time capsule, nearly all coins in the marketplace have a reasonable probability of being reviewed at least once at CAC. Some coins have been submitted multiple times.

- There is a slim chance of having a coin CAC approved with multiple submissions. It does happen based on data accumulated by GFRC after tracking coins across multiple customers. But that possibility is the exception and not commonplace.

- Cracking a coin out of a PCGS or NGC holder, after not receiving a CAC green bean, to position for another CAC attempt is a fool's errand. I have experience with one client going down this path. The TPG regrading process resulted in losing some important grades on semi-key coins including one arriving back in a Details holder. Can you imagine the frustration of cracking out a coin (that was considered CAC worthy) for positioning for another CAC submission attempt and having the coin return in a Details holder? Ouch!

Bottomline, the TPG grading and CAC approval processes are subjective and not quantitative. Please remember this point! Some coins take multiple TPG submissions before the TPG will arrive at the "appropriate" grade. In my last PCGS submission, I included a few Details graded Seated coins that were not cleaned. Half returned in straight grade holders. If I invest more money, the others will eventually grade but many not be worth the monies spent. CAC review is also subjective and an opinion. There is considerable CAC credibility due to the owner's industry expertise and reputation. But let's not forget this point! TPG and CAC reviews are subjective and opinion based.

One final comment is in order. As a coin dealer who relies on a constant stream of consignments, I see the wide range of assigned TPG opinions. I am to the point of not worrying so much about the numerical grade being correct. Rather, are the TPGs getting the surfaces right. TPGs have holdered a host of cleaned coins and Details graded many original coins. Just the other day, a new consignment arrived with a blatantly cleaned coin in a straight graded holder. I looked at Diane and proclaimed that PCGS is not so lenient for GFRC submissions! Ditto for CAC approval. There are wonderfully original coins with natural gray patina that will not garner the coverted CAC green bean. The most likely issue is the TPG grading not being conservative enough. What is a poor boy to do with these holdered coins as TPGs do not offer a"downgrading" process for repositioning towards CAC approval? Hey, this might be a great idea for a new TPG service...Dial a Downgrade!!!

At GFRC, I use the quality rating to call them as I see them. Sure, everyone wants to pay a non CAC price for a choice coin and have it magically return from CAC with a green bean. This is human nature. Egos and pocketbooks benefit when this takes place. However, I am becoming worn out with the "will it CAC" questions or worse, "I will buy the coin conditional on CAC approval". If I become terse with the latter request, you might understand why.


Latest Palos Verdes Collection Client Gallery Arrives

Some collectors are specialists while others are generalists.

The Palos Verdes Collection consignor fits into the "generalist" category based on this new submission. How I enjoy receiving consignments with a wide range of designs and denominations!

There are some great coins in the Palos Verdes consignment that warrant your consideration. If you are CAC green bean focused, I'm sorry that you are missing out on some quality pieces in this offering. What are my immediate favorites? Glad that you asked.

Of course, the 1806 Draped Bust half is a gem at the assigned grade. One look at the images should promptly bring about this conclusion. The 1823 Broken 3 Capped Bust is a popular die variety and not often seen. I love the brilliant frosty luster. The 1796 Draped Bust dollar brings steely fields and a Die State IV for the B-5 BB-65 die pairing. Isn't the 1853 WA dime cool with its intense old album toning? Please pay careful attention to the 1852, 1855, and 1864 Seated quarters. The 1852 has superb coloring and comes recommended. The 1864 has natural frosty luster and will be a JBIN offering.

Look for the Palos Verdes Collection offerings to be reach the price list by end of day.


Wide Ranging Offerings from the Palos Verdes Collection

1794 "Head of 1794" PCGS VF30 1C                                            1806 O-115 PCGS EF40 CAC 50C   


1823 Broken 3 O-101 PCGS AU53 50C                                   1796 B-5 BB-65 DS4 PCGS VF20 OGH $1


 1853 WA NGC VF20 Star 10C                      1859-O F-103 Raw AU50 10C                    1876-CC F-128 NGC AU55 10C


1886 F-101 PCGS AU58 10C                      1891-O F-119 Raw AU55 10C                      1852 Br 2-B PCGS EF40 25C


      1855 PCGS AU58 25C                                 1864 PCGS AU55 25C                           1812/1 Small 8 NGC EF45 50C


    1818/7 O-102 PCGS AU50 50C                         1856-S PCGS EF40 50C                                 1893 NGC AU55 $1              



Watch Hill's Toner Morgan Dollar Set Sale Underway

Opening bidding has been quiet for the Watch Hill auction sale so far. Please remember that there are a host of exceptional offerings in this sale.

Today brings the CDN Publishing email blast announcing GFRC Online Auctions service and the Watch Hill Collection sale in particular. Breaking into a new numismatic market segment takes take time, patience, and persistence. I'm confident that a substantial portion of the Watch Hill Collection offerings will be sold come Saturday evening.


Global Financial News

There is much to discuss today concerning equity markets. The obvious "news of the day" that can be directly correlated to positive U.S. market futures is President Trump signing the $900B Covid-19 relief bill. The promised $600 checks will continue to support the U.S. economy in the near term. Following are morning market futures courtesy of Seeking Alpha. U.S. markets appear poised for new record levels.

In Asia, Japan +0.7%. Hong Kong -0.3%. China flat. India +0.8%.

In Europe, at midday, London closed. Paris +1.1. Frankfurt +1.6%.

Futures at 6:20, Dow +0.6%. S&P +0.7%. Nasdaq +0.7%.

Economic optimism can also be found in commodities and the 10 Year Treasury bond yield. Then there is Bitcoin that has melted-up during the weekend.

Crude oil pricing has risen to $48.58/bbl which is positive for the U.S oil industry. Spot gold pricing rose to as high as $1895 during the weekend and has settled down to $1883 as we start another day. The 10 Year U.S. Treasury bond yield has improved to 0.95%

Bitcoin pricing exploded during the weekend. It is best to just share this Seeking Alpha headlines as I don't follow or understand the crytocurrencies given how the "Holiday Effect" and table talk is responsible for a major breakout.

Bitcoin Breakout! Bitcoin broke through $24K in a big way on Christmas day, and then took out $25K, $26K, $27K and $28K over the ensuing 36 hours, before pulling back (it's now hovering at $26.7K). Some are suggesting the Holiday Effect as among the reasons for the big move, as dinner table stories of monies made investing in crypto stir interest among family members. The space has been one of the big winners of 2020. A retail-investor led rally in cryptocurrencies pushed total assets invested in crypto funds to a record $15B this year, up from $2.57B at the end of 2019, according to digital asset manager CoinShares.

This Seeking Alpha headline should have all investors worried. Bubbles are built with borrowed investment monies. Margin trading is a dangerous trap that can quickly become an opportunity for substantial loses. When enough "investors" are on the wrong side of a market, bubbles will burst quickly.

Margin debt hits new record. Investors borrowed a record $722.1B against their investment portfolios through November, according to the FINRA, exceeding the previous high of $668.9B from May 2018. The milestone is worrying for the stock market because margin debt highs tend to precede periods of volatility as experienced in 2000 and 2008, though many see more fresh highs on the horizon, given easy money policies and the appetite of retail traders. Many have been using their margin balances to trade options contracts that give them the right to either buy or sell shares at a predetermined price later. Options activity has surged along the rise of commission-free trading, with an average of 29M contracts traded this year, up 48% vs. 2019.


Wrapping Up The Blog

I hope that you have enjoyed today's Blog edition. There was much fresh mental energy with topics flowing from the mind to the keyboard.

Yes, I will be in the GFRC office the entire day pricing out the Palos Verdes offerings followed by starting to process Cumberland County images.

Of course, if you are interested in purchasing a coin, I'm all ears. If wishing to consign coins, I'm double ears!

Thanks for checking in at the Blog. Be safe and well.




December 27, 2020

Watch Hill's Toner Morgan Dollar Set Sale Auction is Live!


Latest Palos Verdes Collection Gallery Due Today


Greetings an a quiet Sunday morning and welcome to the Daily Blog.

A numismatic mental void best describes the present situation in the GFRC office at 6:30 am. What in the world can I possibly discuss that is worth reading? Here comes my best morning effort...

Raymond and Venice weather situations are seasonal. Southern Maine is a cold 29F while Venice is warmer at 42F with an expected high close to 70 degrees. The cool Florida weather has been ideal for daily exercising and attempting to add more upper body strength. The arrival of the John Deere 2025R in April and a host of back acreage and landscaping plans will require time on the chain saw and the movement of rocks and firewood. Might the John Deere be a motivational instrument for staying strong and healthy?

How about visiting the spot gold technical charts on the Kitco website? Gold prices have solidified at the $1880/oz level with $1900 being the near term overhead resistance. So far, so good in terms of the long term rally that originated in late 2019. Yes, gold has been on a year long rally.

Following is the 1 Year Kitco technical chart that illustrates the recent pricing dip and recovery. Please note that the blue moving average line, tracking short term price movement, is calcuated on a 14 day basis rather than 30 days on the 5 and 8 years charts. The 14 day Moving Average has turned upward and gapping away from the 200 day Moving Average line. This is positive in the short term and an opportunity to move back above the $1900/oz level.

Kitco 1 Year Technical Chart - Spot Gold Pricing


Frankly, I can't speculate as to why gold prices would tumble during 2021. All signs point to continued money stimulus in Europe, the United States, and Japan. China is also providing economic stimulus but with little transparency. With U.S. equity markets at record levels, investment risks are high with gold providing wealth diversification. Gold's challenge is its long term appreciation nature that spans decades along with potential paper market manipulation by the large banks. It is an unassuming multi-generational safe haven.


Watch Hill's Toner Morgan Dollar Set Sale Auction is Live!

Another GFRC Online Auction is now underway and available for your bidding pleasure.

Last evening's Watch Hill sale opening was a quiet event. I remained in the office past 9:00 PM watching yet more compact tractor videos on Youtube while initial bids were placed. The auction start-up went smoothly with six lots having recorded bids.

Since Morgan dollars are not a core GFRC product line (neither are Lincoln cents!), I'm not sure what to expect during the upcoming week through 2021 New Year. Monday brings the CDN Publishing email blast announcing GFRC Online Auctions services and the Watch Hill sale. For not a lot of money, collectors can secure some beautifully toned Morgans as the starting point for their own collections.


Latest Palos Verdes Collection Gallery Due Today

Much progress has been made with the latest Palos Verdes Collection consignment. Image processing is approaching completion and definitely will be posted to the Blog by end of day.

I don't believe that an itemized announcement of the new Palos Verdes Collection consignment has been featured in the Blog. Following are the contents for your consideration.

Flowing Hair 1c: 1794 Head of 1794 PCGS VF30

Seated 10c: 1853 WA NGC VF20 Star with gorgeous old album toning; 1876-CC NGC AU55; 1886 F-101 NGC AU58

Seated 25c: 1855 WA PCGS AU58 fully struck and frosty; 1852 Br 2-B PCGS EF40 pretty old album toning with eye appeal above the assigned grade; 1864 PCGS AU55 fully struck with steely luster

Draped Bust 50c: 1806 O-115 PCGS EF40 CAC classic gray with embedded rose, superb eye appeal

Capped Bust 50c: 1812/1 NGC EF45; 1818/7 O-102 PCGS AU50 ex Fredrick Collection; 1823 Broken 3 PCGS AU53 frosty luster

Seated 50c: 1856-S PCGS EF40 tough early date

Draped Bust $1: 1796 Large Date/Small Letters PCGS VF20 OGH

Morgan $1: 1893 NGC AU55 light gold patina


Attention Shifts to Cumberland County's Liberty Seated Half Dollar Collection Auction

Before we know it, mid-January 2021 will be upon us. I've set the mid-January timeframe as the target for the next GFRC Online Auction; the wonderful Cumberland County Liberty Seated Half Dollar Collection Sale. Contents are presently featured at the scrollable table at the upper right portion of the Daily Blog page.

Image processing will be first initiative that starts this coming week. Will it be possible to have the online catalog debut by January 9-10 weekend? I'll be in touch with GFRC's staff cataloger Len Augburger as to this possibility.

Presently, let's target the Cumberland County auction schedule for January 16 through January 23. January will be a quiet numismatic month with no coin shows throughout the United States and the changing of U.S. presidential leadership. I'm sure this auction will be well received during this timeframe.


Wrapping Up The Blog

Monday brings a huge shipping day along with a 40+ piece CAC submission. It will be prudent for Diane and I to start working on the shipping queue during the afternoon hours as a head start for Monday.

You guessed it! I will be in the GFRC office the entire day other than an important exercise session and health walk. Wrapping up Palo Verdes Collection image processing will be the must get done priority for the day.

Please don't be bashful with numismatic purchases or a consignment proposal during the daytime hours. I'm all ears for your potential needs. GFRC offers a broad range of collector services to selection from.

Let's remember to be safe during the upcoming weeks. Since turning 65 in March, it appears that I will be eligible for the Covid-19 vaccine here in Florida.

Thanks for checking in at the Blog!






December 26, 2020

Watch Hill's Toner Morgan Dollar Set Sale at 9:00 PM ET


Say It Ain't True - Twin Lakes Lincoln Cents!


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

Taking a day off from composing the Blog brings renewed energy this morning.

Friday ushered in a much needed laid back day. There was a morning WeChat call with Matt, Chikae, and Natsumi in Beijing. Chikae's parents (Sungbo and Sarako) were also visiting with the Yamatins. Natsumi is growing up so quickly and now six years old. The Yamatin family is heading to a Beijing area hot springs and snow park for a short holiday. Natsumi will be experiencing downhill skiing for the first time.

The late afternoon hours brought a FaceTime call with Renee, Ivy, and Mike. All is also well in Austin.

The evening hours saw the preparation of Lincoln Cent images for a recent Twin Lakes Collection consignment. More on this topic shortly.


Seth Godin Blogpost: Amplify possibility

Today's Seth Godin blogpost is probably one of his finest. Finally, someone has the courage to call out social media for what it truly is; a sphere of deceit and manipulation. As a society, we need better than disinformation, trolling, and division to enable profits for the tech giants. Godin's blogpost captures the essence of why I spend zero time on social media platforms or even watching television.

Amplify possibility

“People like us do things like this.”

Social media understands this.

It also knows that people like points, likes and something that feels like popularity.

The social media companies optimized their algorithms for profit. And profit, they figured, would come from engagement. And engagement, they figured, would come from confounding our instincts and rewarding outrage.

Because outrage draws a crowd.

And crowds establish culture.

And a desire to be the leader of a crowd reinforced the cycle.

And so the social networks created a game, a game in which you ‘win’ by being notorious, outrageous or, as they coined the phrase, “authentic.” The whole world is watching, if you’re willing to put on a show.

That’s not how the world actually works. The successful people in your community or your industry (please substitute ‘happy’ for successful in that sentence) don’t act the way the influencers on Twitter, YouTube or Facebook do. That’s all invented, amplified stagecraft, it’s not the actual human condition.

Many of us have an overwhelming need to rubberneck, to slow down when we pass a crash on the highway. This is odd, as most people don’t go out of their way to visit the morgue, just for kicks. And yet…

I hope we’d agree that if people started staging car crashes on the side of the road to get attention, we’d be outraged.

That’s what happening, and the leaders of social networks pretend that they can’t do a thing about it, just as Google pretends that they can’t control the results of their search algorithm.

The shift that the leaders of the social networks need to make is simple. In the long run, it will cost them nothing. And within weeks, it will create a world that’s calmer, happier and more productive.

Amplify possibility. Dial down the spread of disinformation, trolling and division. Make it almost impossible to get famous at the expense of civilization. Embrace the fact that breaking news doesn’t have to be the rhythm of our days. Reward thoughtfulness and consistency and responsibility.

You can do this. Enough already.


Watch Hill's Toner Morgan Dollar Set Sale at 9:00 PM ET

The long awaited Watch Hill Toner Morgan Dollar Set Auction arrives this evening at 9:00 PM ET.

There is risk in scheduling an auction sale during the holiday period between Christmas and New Year. If 2020 had been a "normal" year, I would not have taken this risk. However, the Covid-19 pandemic has keep many of us at home including the numismatic community. A decision was made to run against the grain and share a numismatic event during a traditionally quiet timeframe. Monday brings GFRC's first CDN Publishing email blast announcing the GFRC Online Auctions platform and the active Watch Hill Collection sale.

The Watch Hill sale is an opportunity to acquire beautifully toned Morgan dollars and the better dates with natural gray surfaces. Most lots have CAC approval as a validation of originality and eye appeal. This online auction sale will close on January 2, 2021 at 9:00 PM ET.

Following are six highlights from the Watch Hill sale that warrant consideration.


Watch Hill's Toner Morgan Dollar Set Sale Highlights

1878 7TF Rev 1878 VAM 14.2 PCGS MS64 CAC $1                                          1880-CC PCGS MS64 CAC $1           


1882 PCGS MS64 CAC $1                                                           1882-S PCGS MS66 $1


1888-S PCGS MS64+ CAC $1                                                    1889-CC PCGS VF20 CAC $1



Say It Ain't True - Twin Lakes Lincoln Cents!

Yes, I am pinching myself this morning. Is it true that GFRC will begin stocking Lincoln cents? How did this happen?

Call it mutual respect for top GFRC clients. When the Twin Lakes Collection consignor asked me to handle his Lincoln cent collection, my first inclination was a negative response. However, living life with a glass half full perspective brought reflections on the importance of taking on this consignment. So here we are with the first installment of Twin Lakes' Lincoln cents. These will post to the price list today followed by being listed on Collectors Corner. Once on Collectors Corner, they probably will not last long on the price list.

One of the positive aspects of handling these eye appeal Lincolns is the opportunity to learn the subtleties of image processing for Red-Brown copper coins. The below images are exactly matched to the coin's in-hand appearance.

Look for these Lincolns to reach the price list by end of day. There are many more lower priced later dates that I would love to sell in larger lots.


Twin Lakes Collection - A Quality Lincoln Cent Collection Needs New Home


1909-S/Horizontal S PCGS MS64RB CAC 1C                                          1910-S PCGS MS64RB CAC 1C             


 1909 VDB PCGS MS64RB CAC 1C                    1910 PCGS MS64RB 1C                              1911 PCGS MS64RB 1C          


 1912 PCGS MS64RB CAC 1C                    1912-D PCGS MS64RB CAC 1C                  1912-S PCGS MS64RB CAC 1C



The Rascal Returns with More Liberty Seated Dimes

After much feedback from the Liberty Seated dime collectors in the GFRC community, I am making a concerted effort to increase the listing of dimes from my reference collection.

One side benefit is the updating of the web-book (The Definitive Resource for Liberty Seated Dime Variety Collectors) with improved images. Secondly, is the generated monies are going into a pool for potential upgrades of the core Liberty Seated dime set. At some point in the next five years, there will be releases from major collections. I wish to be positioned to conduct much needed upgrades to non-CAC approved dates.

The most interesting piece within this new lot is the 1853 With Arrows F-107 Repunched Date dime. This coin is gem original but will not be straight graded by the TPGs. The issue is the proof like surfaces with heavy diagonal die striations and an incredible strike. This dime looks like a proof strike and is too good to be true in the eyes of the TPG graders. They see potential hairlines (die striations) during their 10 second evaluation and can default to a Cleaned opinion. Well, dear readers, I believe they are wrong. This amazing dime is perfectly original and a gem.

All have been posted to the price list and are ready for consideration.


The Rascal Returns with More Liberty Seated Dimes

Plate Coins from The Definitive Resource for Liberty Seated Dime Variety Collectors

1853 With Arrow F-107 RPD PCGS UNC-Details 10C - Really a Gem!

1859 F-105 PCGS AU55 CAC 10C                                                   1860 F-103 PCGS MS62 CAC 10C


 1841 F-109 PCGS AU50 10C                      1857-O F-103 NGC MS62 10C                      1861 F-101 PCGS PF63 10C



Consignment and Auction Lot Proposals Are Solicited

Without the 2021 Winter FUN show, GFRC is losing an important pre-show buying opportunity. Both Dan White and I are financially well resourced to acquire new inventory. All options are available for those who wish to divest coin collections during early 2021.

The new GFRC Online Auction platform has quickly become the ideal venue for the debut of a major collection at flexible reserves. The auction platform allows top quality coins to be accurate valued in the current market place. Those coins that do not meet reserve automatically move to the regular GFRC price lists and Collectors Corner marketplace. Recent Hoosier Collection post auction sales experience demonstrates that unsold auction lots will still sell at reserve prices once placed on the price list.

Smaller divested lots can be sold via consignment and the regular GFRC price list.

If wishing to raise quick cash or trade value, the GFRC 85% CAC Buyback program might be perfect for you.

Finally, there is the possibility of outright sale for high value CAC approved early type and U.S. gold.

GFRC has acquired a reputation for fair pricing during the purchasing and selling sides of the equation. Our low operating costs means more money for clients as GFRC works on tight margins.


Wrapping Up The Blog

Saturday brings another day in the GFRC office. I would like to chat about consignments or your purchase orders.

Thank-you for making the GFRC website one of the most popular numismatic portals on the internet. This morning, GFRC realized record breaking Alexa.com rankings.




December 25, 2020

Merry Christmas from the GFRC Staff

More Carson City Coinage from the Murphys Collection

1875-CC WB-10 AU53 50C                                                          1875-CC WB-10 EF45 50C


 1876-CC F-126 NGC AU55 10C                           1858-O NGC AU58 50C                           1877-CC WB-12 PCGS F15 50C







December 24, 2020

Merry Christmas and Happy Holidays!


Watch Hill Toner Morgan Dollar Set Sale Opens December 26



Greetings on Christmas Eve and welcome to the Daily Blog. A wish for Happy Holidays to every soul that frequents these ramblings.

Today's Blog edition is proving to be difficult to write in the traditional spirit of year ending holidays.

2020 has been a turbulent year due to Covid-19 and a divided political landscape. But what really matters is that the Fortins are blessed as the entire family remains safe and healthy regardless of geographical locations. Tradition would have our family gathering in Florida for the holidays. Grandparents could spend time with grandchildren while Matt, Chikae, Renee, and Mike enjoyed an opportunity to share happenings in their lives. There would be experimental cooking in the kitchen since most of the younger family members are vegetarians. I could go on and on from past memories.

It is not to be for 2020.

However, happiness is a mental state that can be managed. Positive thoughts and seeing life within the context of the glass being half full can still bring about comfort and joy.

Regardless of Covid-19 and the loss of coin shows, the GFRC business has grown substantially during 2020. Isolated collectors have turned to online storefronts, message boards, and other places for consuming numismatic news and locating new acquisitions. Recognizing the isolation of many, I have place much efforts into expanding Daily Blog topics and content. It is the least that could be done to support our wonderful hobby and community of friends.

There is little else to say at this point. Every Blog reader's personal holiday environment is different. Local families will be able to spend time together. Those that are separated geographically, may not. I hope that we can find ways to capture holiday joys based on our individudal situations.

Once again, Merry Christmas and Happy Holidays to those in the GFRC community from the GFRC family staff.


Watch Hill Toner Morgan Dollar Set Sale Opens December 26

A reminder that the Watch Hill Toner Morgan Dollar Set Sale opens at 9:00 PM on December 26. The auction sale runs through January 2.

Much has already been written about the Watch Hill lots. Beauty and affordability best summarize the Watch Hill Morgan dollars. Key dates are well represented by natural coin gray offerings since nearly impossible to locate with colorful patina. The balance are nature's artwork to be enjoyed.

Regardless if bidding or not, I hope that you will visit the Watch Hill catalog and take time to appreciate the individual pieces.


New City By The Bay Collection Consignment Available on Price List

The 30 Day Price List continues it expansion and stands at 151 new offerings. Wednesday brought the appearance of the new City By The Bay Collection consignment for your consideration. Already, one of the two 1869-S quarters is on hold.


A Daily Blog Holiday on December 25

Yes, it does not happen often since composing the Daily Blog has become a lifestyle. However, I am working on several client galleries today and those may be posted later this evening or even during Christmas Day. The header will read December 25-26 for those who monitor and feedback on this item.

I will be taking a one day composition vacation tomorrow and not spend the early morning hours writing a Blog edition. Without the family in Venice, I'm not sure what will be done during the morning hours. Maybe I will sleep later? This is doubtful.

However, taking a break from a constant routine is healthy and a reminder that there are other opportunities in a life to explore.


Global Financial News

Christmas Eve brings a shortened trading day with markets closing at 1 PM ET. Will the traditional Santa Claus rally occur during 2020? The Santa Claus rally is the tendency for stocks to rise over the last five trading sessions of December and the first two trading sessions of January.

Morning market futures for U.S. markets are pointing to a modest open.

In Asia, Japan +0.5%. Hong Kong +0.2%. China -0.6%. India +1.1%.

In Europe, at midday, London flat. Paris flat. Frankfurt +1.3%.

Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.2%.

Crude oil pricing has nearly recovered from Monday's sell-off as the current quote stands at $47.81/bbl. Spot gold prices look to be in a new trading range just shy of the $1900/oz level. The morning quote is $1882/bbl. The 10 Year U.S. Treasury bond yield is back to 0.94%.


Wrapping Up The Blog

Yes, I will be in the GFRC office the entire day. There is little else to do given current Covid-19 self-isolation.

Image processing will be center stage for several consignments. The newest Murphys Collection offerings will be wrapped up first followed by the first part of a Lincoln cent lot from the Twin Lakes Collection. Also included in today's processing will be another lot of Liberty Seated dime from my reference collection.

Your Daily Blog visits are appreciated. Thanks for stopping by and taking in another day's ramblings. Some days bring more creativity than others. I'm never certain on much of the daily content when first sitting at the laptop with a cup of coffee. The contents just magically happens.

Please be well and safe during the Christmas holiday.




December 23, 2020

GFRC Online Auctions Email Blast Ready to Go!


The Rascal Adds More Liberty Seated Dimes


Greetings and welcome to the Blog on a Wednesday morning. Thanks for stopping by.

One of the first activities each day, after firing up the laptop, is checking the weather forecasts for the Maine homestead and here in Venice. Interestingly, there is a convergence of Christmas day weather forecasts for our two living locations. Southern Maine will see rain and a high temperature of 53F on Friday. Contrast that with Venice Florida experiencing one of the coldest days of the year at 57F on Friday.

My online reading and video watching has shifted to compact tractor risks. One of the major safety risks with tractors is rollover. Tractors are narrow machines with shifting centers of gravity based on what is being carried for rear ballast and in the front loader. Front loader height, when full, trasnsport speed, and terrain bring a multi-variable equation to safety. I've watched several Youtube videos of tractor owner who rolled their equipment and luckily were wearing seatbelts and employing the ROP system. They survived unharmed to tell their stories. ROP is Roll Over Protection or a rollbar installed over the operator's seating area. This topic is a keen concern as the Raymond back 20 acres is sloped and replete with protruding rocks. The primary take-away is installing as much rear ballast as possible and potentially expanding the width of the rear wheels for increased stability. Wheel extenders or even running with dual rear wheels are approaches for increasing overall stability and safety.


GFRC Online Auctions Email Blast Set for December 28th

Tuesday brought a usual busy day in the GFRC office. Purchase orders continued to arrive along with a new consignment from the Palos Verdes Collection. I'm also pleased to report that GFCR has completed its first email blast advertisement. The e-blast has been transferred to CDN Publishing and will be launched on December 28. This e-blast announces the new GFRC Online Auctions service and secondly, showcases the Watch Hill Toner Morgan Dollar Set Sale that will be underway come Saturday December 26. Following is a preview of the e-blast content. Please click on the low resolution image to download the full resolution content.


More Liberty Seated Dimes From Fortin Reference Collection

I've made a vow to treat myself like a regular consigner during the upcoming winter months! The Venice safe is well stocked with quality Liberty Seated dimes that deserve to be loaded to the price list. Since the consignment backlog is growing thin, why not balance out new offerings with a strong mix of AU and Mint State dimes? This I will be doing including the following four new offerings below.

The 1838 F-108 dime is special. Why? One can easily find the later F-108a Partial Drapery die state on price list or via cherrypicking. Just try locating the early die state without the "partial drapery" die clashing. In the past, I've assigned an R4 rarity rating for examples in VF or better grades. Yesterday, I raised that rating to R4+ and probably should have gone to R5. If visiting the Sales Archive, you will learn that this is the first early die state F-108 offered by GFRC and what a great piece to break the ice. This example is the web-book plate coin and was purchased way back during 1995.

The 1845 F-108 offering features the all digits repunched date and choice surfaces. The 1860 F-101 is a cameo proof and also a web-book plate coin. Finally, I've added a fully struck 1860 F-105 dime graded PCGS MS63 in OGH and with CAC approval. This offering allows for a case study of the With Legend Type 1 obverse design that was quickly obsoleted during 1861. The Type 1 obverse design has the hallmarks of Assistant Mint Engraver Anthony Paquette. The relief and device details are too shallow resulting in rapid wear as seen on 1860 New Orleans and 1861 San Francisco struck dimes.


The Rascal Adds More Liberty Seated Dimes to Price List

1838 F-108 PCGS AU53 10C                                                   1845 F-108 RPD PCGS AU53 10C


     1860 F-101 PCGS PR64CAM 10C                                         1860 F-105 PCGS MS63 CAC OGH 10C   



GFRC Consignment Status

TPG holdered coins from the Southern Texas Collection have been loaded to the price list as of last evening. Ditto for the above four Rascal Liberty Seated dimes.

Today brings the price list loading of the City by the Bay Collection offerings that were showcased in Tuesday's Blog. Afterwards, my attention shifts to a large lot of Lincoln cents from the Twin Lakes Collection. Sitting in queue are new consignments from the Indiana Collection (Liberty Seated dimes) and the Palos Verdes Collection (early type coins).

In transit from PCGS grading is a 17 piece lot of GFRC and Osprey Collection coins. A subset will be heading to CAC on Monday along with the Sunset Collection of Liberty Seated halves.

It is becoming apparent that Liberty Seated coinage demand is stronger than availability. Unless major collections are sold, the supply side of the equation is anemic.


Global Financial News

After months of haggling. Congress has approved another Covid-19 stimulus bill with individuals receiving $600 checks. Buried in the bill is a host of monies heading overseas unrelated to Covid-19. What are our politicians thinking? Call me a conservative but borrowed monies should be spent on America citizen's relief and not shipped overseas to fund someone's pet project or ideology. This Seeking Alpha headlines captures the situation.

Stimulus Confusion. Thought the latest edition of coronavirus stimulus was a done deal? Guess again. In a surprise video announcement, President Trump called the $892B package a "disgrace" and demanded changes to the bipartisan legislation approved by Congress. Futures wobbled shortly after the broadcast, but it didn't take much for them to erase the losses. Trump specifically took aim at funding headed overseas, and direct payments to individuals and families, but it was unclear if the items would be enough for him to veto the relief package. Bigger picture: The House and Senate could vote to override Trump's decision as the bill passed with a veto-proof majority in Congress, but the process could delay Treasury Secretary Steve Mnuchin's promise that stimulus checks could begin reaching American households next week. "I am asking Congress to amend this bill and increase the ridiculously low $600 to $2,000, or $4,000 for a couple," Trump declared. "I'm also asking Congress to immediately get rid of the wasteful and unnecessary items from this legislation." In a rare twist, Nancy Pelosi agreed with the call on larger direct payments, and House Democrats will see if they can approve a measure by unanimous consent on Christmas Eve, but it's not clear whether the larger sums would pass muster in the Senate. Meanwhile, U.S. government operations are being funded on a temporary basis through Dec. 28, waiting for the $1.4T in federal spending for fiscal 2021 that is also attached to the stimulus bill.

U.S. equity markets are presently treading water at their record levels. Morning market futures provide little insight other than a snapshot of where the markets will open at 9:30 AM. Asian markets continue to be strong as Covid-19 is being more aggressively managed in the other side of the planet.

In Asia, Japan +0.3%. Hong Kong +0.9%. China +0.8%. India +1%.

In Europe, at midday, London -0.1%. Paris +0.8%. Frankfurt +0.9%.

Futures at 6:20, Dow +0.3%. S&P +0.4%. Nasdaq +0.2%.

Commodities and the long bond interest rate are all flat with respect to Tuesday's opening numbers. Spot gold is quoting at $1872/oz while $47.07 will buy a barrel of crude oil. The 10 Year U.S. Treasury bond yield stands at 0.92%.


Wrapping Up The Blog

I'm out of things to share and best to close another Blog edition here.

Thanks again for checking in at the Blog. Yes, I will be in the office the entire day other than the usual post-lunch health walk. Your purchase orders and consignment inquiries are most welcomed.

See you tomorrow at the Blog. Again, please be cautious with respect to Covid-19 infections. The Indiana Collection consignor reported having the infection in late October but luckily a mild case.




December 22, 2020

A Duplicates Sale - City By The Bay Collection Consignment


Looking at Gold Prices on a Technical Basis


Greetings and welcome to another Daily Blog edition. A sincere thank-you to all who make a habit of visiting each day.

For years, I have been composing the Blog and manually changing the current day's date at the top of the Blog page. There have been occasions where the copy/paste of the title lines is done, new headlines inserted, but forgetting to make the date current. Several Blog readers make a habit of catching this mistake and sending an email reminder.

Yesterday brought the same mistake and an email from the Coney Collection. He suggested that I program the date display using html. What an excellent idea! If you look at the top of the page, a date and time field has been added that displays the viewer's date and time based on their geographical location. This display brings a visual queue for validating the labeled date and should resolve the matter. My thanks go out to the Coney Collection consignor for the suggestion.

Ideas can be precious when shared. Seth Godin just happened to write the following blogpost concerning this topic.


Seth Godin Blogpost: Hiding ideas

Some people hesitate to share an idea because they’re worried it will be stolen.

In general, these people are afraid of success, not failure. An idea unspoken is a safe one, which not only can’t be stolen, but it can’t be tested, criticized, improved or used in the real world.


GFRC is New Advertiser for Central States Numismatic Society's The Centinel

Thanks to a bit of subtle prodding by Gerry Tebben Editor for The Centinel, a Central States Numismatic Society club publication, GFRC has become a half page advertiser. Monday brought a large shipment of the Winter 2020-2021 edition that features the new GFRC ad. I would be pleased to include a copy of The Centinel for free with a GFRC order/shipment. The magazine is in small size format and will easily fit inside a 2 Day USPS Small Priority box.

Here is a quick cellphone image of the new GFRC half page ad. The Winter 2020-2021 edition showcases a fantastic new book by Winston Zack, entitled Bad Metal: Copper & Nickel, that explores contemporary counterfeits. I purchased a hardbound copy of Winston's book at the November 2019 Baltimore coin show and have enjoyed the read. Also in the Winter 2020-2021 edition is an opening article featuring Len Augsburger and Gerry Fortin discussing the topic of dipping. These commentaries were previously published in the Daily Blog.

The Centinel - Winter 2020-2021 Cover Art

GFRC's Half Page Advertisement


A Duplicates Sale - City By The Bay Collection Consignment

Monday brought bright sunny skies to Venice throughout the day along with an afternoon temperature of 72F. The weather was ideal for a protracted photography session. Captured were images for the new City by the Bay Collection consignment and 70% of the Cumberland County Collection that will be auctioned by GFRC during the second half of January 2021.

I'm pleased to be showcasing the following San Francisco struck Liberty Seated quarters and halves for your consideration. The City by the Bay consignor was active in the recent Hoosier Collection AU58 Seated Quarter Sale resulting in fresh duplicates finding their way to GFRC. My plan is to have these loaded to the price list by end of day.

There are several important offerings to consider including a well preserved 1860-S Seated quarter and two 1869-S examples in higher grades. Someone should promply scoop up the 1878-S quarter once posted to the price list. I love the old time natural coin gray eye appeal and "dirty" reverse. Liberty Seated halves are also well represented with 1868-S, 1871-S, and 1875-S duplicates.


A Duplicates Sale - City By The Bay Collection Consignment

1860-S Br 1-A PCGS F15 25C

1866-S Br 1-A PCGS VF25 25C                                                1869-S Br 1-A PCGS EF45 OGH 25C


1887-S F-109 PCGS MS63 10C                   1869-S Br 1-A PCGS EF40 25C                   1878-S Br 1-A PCGS VF25 25C


1868-S WB-4 PCGS AU53 50C                      1871-S WB-6 NGC AU55 50C                      1875-S PCGS MS62 50C   



GFRC Consignments Being Solicited

The cancellation of the Winter FUN Show is hitting home in terms of sourcing new price list offerings. Without a fresh wave of Winter FUN new purchases, GFRC is solely dependent on consignments (and my reference collection Liberty Seated dimes) for maintaining a steady flow of price list additions.

My apology if I sound like a broken record.... If considering the divestment of collection duplicates or unloved bank box holdings, GFRC can lighten your load and make the process effortless. All I ask is that consignments be consistent with current GFRC product lines, typical offering price points, and quality levels.

Thank-you in advance for the consideration.


Global Financial News

Market futures are decidedly mixed on this Tuesday morning. Asia markets are down a full point while European trading exchanges are showing optimism. The U.S. markets are mostly flat. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan -1%. Hong Kong -0.7%. China -1.9%. India +1%.

In Europe, at midday, London +0.3%. Paris +0.9%. Frankfurt +1%.

Futures at 6:20, Dow -0.1%. S&P +0.1%. Nasdaq +0.4%.

An iCar by 2024? News of Apple aggressively pursuing an EV automobile is rippling through the investment markets. This Seeking Alpha headlines brings us up to date.

Apple's Project Titan is not only alive, but plans to produce an electric passenger vehicle with "breakthrough battery technology" and self-driving capabilities by 2024, according to a fresh report from Reuters. The news sent AAPL shares nearly 3% higher in premarket trade after closing up yesterday on the news.

Backdrop: Project Titan has been moving in fits and starts since 2014. It first began to design its own vehicle from scratch, but reverted back to a software push at one point and reassessed its goals. It remains unclear who would assemble a possible iCar, but sources have said they expect Apple to rely on a manufacturing partner.

Other movement: Shares of Tesla initially spun lower on the report (amid the EV maker's first day as part of S&P 500), but erased the losses as Loup Ventures' Gene Munster weighed in on the impact. "We believe in 5 years Tesla will hold around one third global EV market share, leaving two-thirds of the market up for grabs. The bigger impact of an Apple Car will be on traditional automakers." Lidar sensor makers like Luminar and Velodyne also revved their engines on the news, with Apple deciding to tap outside partners for elements of its self-driving car system. 

Crude oil pricing is in recovery mode after Monday's drop. The current quote stands at $47.46/bbl. Spot gold pricing is steady at $1878/oz while the 10 Year U.S. Treasury bond yield has increased to 0.93%.


Looking at Gold Prices on a Technical Basis

I've been closely watching spot gold's technical performance since taking a position back at the $1860 level months ago. By early January 2021, gold's technical performance will reach a critical threshold. After a substantial rally during late March through August timeframe, with gold peaking at $2067/oz, a consolidation phase has been underway. Pricing consolidation has brought a much needed pullback to the $1900/oz level.

Please have a look at the following 5 Year Kitco technical chart which tracks gold's pricing performance with 60 and 200 day moving averages (MA). Equities or commodities in rally mode with have the 60 day MA above the 200 day MA. On a long term basis, traders see the 200 day MA as a key support level for an upward pricing trend. This can be seen on the 5 Year chart when the trendline touches the 200 MA line and proceed to move back upward.

Unfortunately, gold's recent consolidation phase has turned the 60 day MA downward while the 200 MA continues to move upward. Traders are closely watching how the two moving averages with behave in the near term. Will the 60 MA meet and bounce off the 200 MA to higher pricing or will the 60 day MA cross through the 200 day MA? If the latter takes place, this is often referred to as a "death cross" signaling the rally is over. Typically, a death cross results in a sell-off of the commodity or equity.

Spot Gold - 5 Year Kitco Technical Chart


Wrapping Up The Blog

Yes, little changes here in Venice with self-isolation. I will be working in the GFRC office throughout the day. Priorities include loading the balance of the Southern Texas Collection offerings to the price list along with those of City by the Bay.

Thank-you for visiting the Blog on a daily basis. My goal is to continually provide fresh content that makes the visit worthwhile.

Please remember to be safe out there.




December 21, 2020

New Southern Texas Collection Offerings to Consider!


Hoosier Collection AU58 Liberty Seated Quarters Remain Available


Greetings on a Monday morning as Christmas arrives in a few days. I'm pleased that you could find time to visit.

A beautiful day is on tap here in Venice. The day's high temperature will peak at 65F with bright sunny skies. Even at a 27 degree latitude, the sun is positioned fairly low above the horizon as the shortest days of the year arrive. Today brings more coin photography including a second installmentof the Cumberland County Collection and a Rascal's lot of Liberty Seated dimes. I have a special photography location with downward sloping ground to improve the sun's intersection angle with a coin's surface.

The Fortins completed their Christmas shopping and gift giving on Sunday. We drove to our local Home Depot store and purchased a Weber E-325 Spirit outdoor grill. This is the same model as that in Maine. I'm looking forward to evenings at the grill cooking salmon, burgers or whatever appeals to us that day. My apologies go out to readers in the cold northern section of the U.S. for mentioning this. Purchasing the Venice condo back in 2010 was a prudent step that is being enjoyed each winter.

Sunday brought a quiet GFRC order day allowing a shift of attention to several larger consignments. Most of the afternoon, after purchasing our Weber grill, was spent processing images for the latest Southern Texas and Murphys Collection consignments. We will be treated to another round of Southern Texas duplicates in this Blog edition.

Feedback arrived concerning the new GFRC Online Auctions banner and logo. So far, so good. Everyone is enjoying the silhouette styled logo and the graphic presentation of GFRC three primary product lines. A morning check of Google Analytics indicates over 200 Pageviews of the Watch Hill's Toner Morgan Dollar Set Sale online catalog. As usual, Len did a great job with the descriptions, especially for the 1893-S PCGS VG10 CAC $1 offering. Indeed, "price guide be damn" is most fitting for this gorgeous key date.


Hoosier Collection AU58 Liberty Seated Quarters Remain Available

Today brings a substantial GFRC wire transfer payment to the Hoosier Collection consignor for his auction proceeds. Like other GFRC services, I believe in the quick execution of consignment proceeds transfers for client satisfaction.

There are residual Hoosier Collection Liberty Seated quarters on the price list that must find new homes. If GFRC can sell these residual dates, the Hoosier Collection might consign another wonderful group of AU58 Seated quarters come the March timeframe. Following are four of my favorites for your consideration. The 1847-O NGC AU58 CAC quarter is indeed a special rarity and must be seen in-hand to be appreciated. If there is potential interest, let's talk about an approval shipment after the New Year.


Available Hoosier Collection AU58 Seated Quarters

1847-O NGC AU58 CAC 25C                                                          1864 NGC AU58 25C        


  1865-S NGC AU58 25C                                                           1890 NGC AU58 CAC 25C



New Southern Texas Collection Offerings to Consider!

The Southern Texas Collection consignor is back with another substantial offering of mid-priced collector coins. This time, copper pieces have been added to the submission along with several better silver coinage dates.

We open today's client gallery with an important 1870-CC Liberty Seated half that is ideal for those assembling a circulated set and needing to fill this challenging key date slot. GFRC images accurate present surfaces and coloring. A lay-a-way is possible for those collecting within a limited budget. Included in this lot is a crusty original 1847-O PCGS VF30 Seated quarter with CAC approval. How about a well worn 1885 Seated half graded Good 4 that is a grade rarity? Mintage is only 5,200 with few known at this grade level.

You are invited to review the new Southern Texas offerings and send along FRoRs if interested in first shot. I should have most of these loaded to the price list by end of day.


New Southern Texas Collection Consignment Gallery Arrives!

1870-CC PCGS VG08 50C

   1909-S NGC VF35 1C                                                             1847-O PCGS CAC VF30 25C


1921 PCGS VF25 25C                                                                1885 NGC G04 50C


 1806 NNC AU50 1/2C                                    1860 NGC MS61 1C                                  1863 NGC MS62 1C     


 1867 PCGS EF40 1C                                    1878 ANACS VF30 1C                                  1908-S PCGS EF45 1C


 1856 PCGS VF25 25C                               1860-O PCGS VF35 25C                               1867 PCGS F15 25C


 1871 PCGS VF25 25C                               1877-S PCGS EF45 25C                               1860-S NGC EF40 50C


 1861 ANACS AU50 50C


Global Financial News

Last week's equity market rally and record breaking performance is in the rear view mirror. Morning market futures are in the tank across the global other than China. I've read a host of articles that warns of an over extended market that has moved into bubble territory similar to the 2000 timeframe. Today's pullback may be warranted. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan -0.2%. Hong Kong -0.7%. China +0.8%. India -0.3%.

In Europe, at midday, London -2.3%. Paris -2.8%. Frankfurt -3%.

Futures at 6:20, Dow -2%. S&P -2.2%. Nasdaq -1.5%.

Crude oil prices have also been impacted by a negative trader outlook. Today's quote is down to $46.61/bbl. The 10 Year U.S. Treasury bond yield has receded slightly to 0.90%.

Interestingly, spot gold prices are steady after last week's rally. The morning quote stands at $1886/oz. Gold pricing is entering a critical phase on a technical chart basis. We will discuss this topic in Tuesday's Blog.


Wrapping Up The Blog

Please be aware that I am planning to hold back GFRC shipments until Monday December 28th for new purchases. The USPS system is overwhelmed. One customer's check payment letter, mailed on December 3, arrived to the GFRC office on Saturday. Priority Box shipment transit times are highly erratic and bringing delivery worries to several clients. Even the Cumberland County return CAC shipment, via overnight Express and scheduled for last Friday, is still being processed and should arrive today.

With no shipping, the extra time will be employed for loading the Southern Texas consignment offerings to the price list along with more image processing.

Please don't forget that consignments are being solicited!

Thanks again for visiting the Blog on a Monday morning.




December 20, 2020

GFRC Online Auctions Banners Debut


Watch Hill's Toner Morgan Dollar Set Sale Catalog Online


Greetings and welcome to a weekend edition of the Daily Blog. This edition brings the culmination of a series of projects. I could not be more pleased with the outcomes.


GFRC Online Auctions Banners Debut

The process of developing the GFRC Online Auction marketing brand and special logo was exciting but with anxieties. There were substantial expectations for a novel motif that would accurately communicate the GFRC operating philosophy and product line focus. The logo must be eye catching and bring about a certain amount of viewer contemplation. That contemplation brings about brand recognition with logo uniqueness.

GFRC worked with an established firm in the numismatic marketing space for creation of the new logo and banners. My counterpart was given well defined instructions and several visuals models to help solidify expectations. Four different options were created with the final product being one of the four. Upon receiving the four proposed artworks, one of the four option immediately captured my attention. There was a positive gut feeling and reaction to the silhouette presentation of Seated Liberty along with embedded Capped Bust and Coronet Liberty shapes. My marketing expectations were well captured resulting in a quick round of fine tuning the logo layout and incorporating the GFRC Online Auctions lettering.

Once the branding logo was finalized, the next step was the creation of a general GFRC Online Auctions banner and a reusable banner for individual auctions. The illustration of these products are found in today's Blog edition.

Matt Yamatin graciously took time from his busy schedule to incorporate the new general banner as the header for the GFRC Auction Guide page. His implementation looks cool and professional!


Watch Hill's Toner Morgan Dollar Set Sale Catalog Online

It gives me great pleasure to announce that the Watch Hill Toner Morgan Dollar Set Sale online catalog has been posted at the Auction Guide link. The Watch Hill sale catalog can be accesed by clicking on the new GFRC auction sale banner.


While I was focused on the market branding project and day to day GFRC operations, Len Augsburger was preparing the Watch Hill Collection descriptions. Those were completed on Saturday morning. Upon submitting his descriptions, it has become tradition that Len provides a cataloger's commentary for the just completed collection evaluation and descriptions. The following captures Len's thoughts for the Watch Hill's Toner Morgan Dollar Set Sale.


Watch Hill's Toner Morgan Dollar Set Sale - Cataloger's Commentary

The appeal of Morgan dollars is undeniable – large, lustrous coins that often come with pleasing toning. The millions of coins released by the Treasury in the 1950s and 1960s only served to popularize the series, making available a wide variety of dates and mintmarks at price points accessible to anyone. Collectors reacted strongly, and today most any auction sale catalog from the major companies will feature a thick section of Morgan dollars.

But, while these coins are available in generous quantities, there is still plenty of room for connoisseurship. Condition rarities about in the series – some coins were released by the Treasury in greater quantities than others, and there was never a precise inventory of what went where. The full picture really had to wait for the third party grading services to accumulate census data, and today a much clearer picture emerges. In studying the Red Book, CDN price guide, or other source, careful study will reveal pieces that jump in value at AU50, MS60, or MS65, revealing a collector’s market at work. Toning also plays an important role in the series, and, while this is somewhat a matter of taste, certain pieces seem to create a larger consensus than others. In the Watch Hill consignment, the 1891-CC is one such coin, and is sure to attract competitive bidding. The 1896 is similarly compelling and will generate significant collector interest.

The Morgan series further contains good, old-fashioned rare coins such as the 1893-S and 1889-CC. The Watch Hill “look” is consistent for such issues, with coin-gray toning and smooth surfaces for the grade. These pieces are a delight to behold and will attract collectors more drawn to absolute rarity. Regardless of one’s collecting interest, there is something in the Morgan dollar series for everyone, and the Watch Hill consignment showcases a set of carefully selected pieces, nearly all CAC-approved, that will have broad appeal across the collector spectrum.


Wrapping Up The Blog

Thank-you for spending time with GFRC on a Sunday morning. I hope that you will stop for a moment and reflect upon the new GFRC logo and its messaging.

Today brings yet another busy day in the GFRC office. Photography of the Cumberland County Liberty Seated halves and image processing for the Southern Texas and Murphys Collection consignments are the must get done items. The GFRC 30 Day Price List is once again well populated with over 130 new offerings. I would like to keep that level or grow further as January 2021 arrives in a little under two weeks. My plan is to enter the busy winter numismatic season with as large of an inventory as possible along with the upcoming Watch Hill, Cumberland County and Sunset Collection auction sales.

As a reminder, GFRC needs a constant flow of consignments else I will grow bored and grumpy!

Purchases are also appreciated!

Wishing Blog readers a pleasant holiday season. Please remember to be safe and careful when out and about.





December 19, 2020

GFRC Online Auction Branding Graphics Completed - Sunday Daily Blog Debut


Superb Liberty Seated Dimes from the Rascal!


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

All remains well in Venice Florida as the holiday week is approaching. GFRC orders rates continue to be robust with USPS shipments reaching customers on an erratic basis. Some shipments are arriving promptly while others are delayed. For example, the CAC return shipment of the Cumberland County Liberty Seated halves did not arrive yesterday and hopefully will be delivered today. Several Hoosier Collection incoming payments for Quick Ships are increasingly delayed and will be managed in the coming week.

I continue to operate with a glass half full attitude on USPS performance and believe all will settle out come December 28th. USPS staff are probably working around the clock to meet the holiday rush along with coping with Covid-19 risks. My plan is to slow down order ships during the coming week and target those for the December 29-30th timeframe.


Coywolves in New Jersey

One of the joys of writing the Daily Blog is the continuous learning opportunities that will arise when new topics are explored. In Friday's Blog, I posted a surveillance camera image of a wolf pack from Copper Harbor, Michigan. Copper Harbor lies on a northern peninsula that juts out into Lake Superior. This isolated region is part of the Grant Township of Keweenaw Peninsula and the summer home for one of GFRC's clients.

James Macor was captivated by the wolf pack image and share the "coywolf" situation in New Jersey. I'll let James explain the background concerning coywolves.

What a treat it was to see wolves in the wild on your blog today!  I love your blogs! Mostly because they are well centered in numismatics, which I also like to read about, but you also bring to life the bigger world around us. I love wolves, even as child. I have dozens of books on Canis Lupus! Your image from the Copper Harbor Collection consignor was a delight to see this morning! Wolves have been extinct in NJ for over a hundred years. However, here in New Jersey, we have something called Coywolves! What is a Coywolf you say.... well, part Coyote, part Gray wolf, part Timber wolf, and a tiny bit of German Sheperd. 


This is "Coy," one of several Coywolves that live in my back woods. I actually feed them because it it a delight to see the closest animal to a Wolf that I will ever see in NJ. Coy is a large Coywolf as judged by my own female German Sheperd "Bindi."  My guess is he is about 60 lbs because he is the same size as Bindi.

I think the Coywolves like my backyard diner that has an abundance of whitetail deer, turkeys, rabbits, raccoons, foxes, skunks, and occasional fisher cat, an occasional bobcat, and some other smaller mammals (squirrels, field mice and chipmunks). Other than automobiles, the Coywolf is the only predator capable of taking down a deer, but they love the small rodents as well.  I have also noticed it's been a long time since I have seen a chipmunk! I could rent him to you to fix your chipmunk problem....


GFRC Online Auction Branding Graphics Completed - Sunday Daily Blog Debut

I'm thrilled (and relieved) to report that GFRC's graphics branding project has been completed. Market branding through a logo is an important step for any business or non-proft organization to take. The goal of market branding is to create a visual graphic that establishes the identity and values of a business and communicates those to customers. Once a logo is designed, it can be used for advertising in a variety of mediums. Market branding is a critical step for business entities that have a long term perspective for growth, reputation, and customer loyalty.

Please check the Blog after dinner time as I will begin adding the new GFRC Online Auction banners to the Auction link and will change out the current Watch Hill Collection auction banner with the new logo based version. I'm certain there will be first impressions among Blog readers and those that will email with their feedback. Please understand that my instruction to the graphic designer was simple, use an out of the box approach for the design.

Back in 2014, I never expected the GFRC business to experience its current growth rate to the point of establishing a market branding logo. But here we are and I could not be more pleased with the new graphics. The new logo speaks volumes concerning GFRC market focus, reputation, and expertise.


Important Liberty Seated Dime Offerings from Gerry Fortin Reference Collection

The time has come to divest another lot of important Liberty Seated dimes from my personal collection. Before heading to Florida, I made one last visit to the Maine bank box and pull a full double row slabbed box of quality pieces. As experienced with other consignors, I continue to "move up the ladder" with respect to selling the better Liberty Seated dimes that have been key to the preparation of The Definitive Resource for Liberty Seated Dime Variety Collectors.

Today brings five new offerings that I hate to part with. The marquee offering is the 1840-O F-108 web-book plate coin; NGC MS62 dime with CAC approval. CAC has approved six at the MS62 level with few finer. This example brings pristine surfaces and superb luster. Given its quality, it will not be inexpensive.

Next is a unique 1840 No Drapery F-104a dime with peripheral rainbow toning. The reverse toning pattern is special and may not be for some collectors. One could speculate for hours on how this toning pattern came about. The 1841-O F-103 dime is most likely a Greer plate coin but not certain at the moment. Maybe it was purchased from Brian back in the early 1990 timeframe? All will be researched and communicated in the description. The final two offerings are an 1851 F-105a repunched 51 example that is another web-book plate coin and a Mint State 1861 Type 1 obverse dime that is not listed in the web-book. How did that happen?


Superb Liberty Seated Dimes from the Rascal!

1840-O F-108 NGC MS62 CAC 10C

1840 No Drapery F-104a PCGS AU53 10C                                        1841-O F-103 PCGS AU55 CAC 10C   


    1851 F-105a PCGS MS62 10C                                              1861 Type 1 Unlisted PCGS MS64 10C



Wrapping Up The Blog

Today brings another busy day in the GFRC office. Top priority is creating content for a forthcoming Watch Hill Collection email blast along with loading the new graphics onto the current website.

Len Augsburger should be wrapping up the Watch Hill auction descriptions shortly which will lead to the publishing of yet another GFRC Online Auction catalog for your viewing pleasure. Reserves have been finalized and we are set to go once the descriptions are completed. I will also be adding a few additional lots to the auction based on client requests.

Late afternoon brings a socially distanced get together with several Auburn Lakes condo neighbors. Everyone is tired of self-isolation and wishes to return to "normal".

Thanks for checking in at the Blog! If curious, please return after dinner time to view the new online logo and graphics.




December 18, 2020

Cumberland County Liberty Seated Halves Back from CAC


AU58s Galore! Twin Lakes Consignment - Part 1



Greetings on a Friday morning and welcome to another Daily Blog edition.

A massive snowstorm has blanketed the northeastern U.S. with a thick snow covering. Reports range from over a foot in Raymond, per neighbors Rick and Sharon, to over three feet in southern New Hampshire. Luckily, this storm brought dry fluffy snow that is easy to plow or shovel.

Over in northern most Michigan, the Copper Harbor Collection consignor reports a pack of nine gray wolves roaming his lakeside property. Bob indicates that he is taking an AR15 rifle with him when walking the dog due to these startling images from a surveillance camera.

Copper Harbor, Michigan - Gray Wolves in a Front Yard


Cumberland County Liberty Seated Halves Back from CAC

Thursday brought CAC submission results for the Cumberland Country Liberty Seated half dollar collection. With the CAC review completed, we are now able to showcase the contents of this upcoming January GFRC Online Auction. Please check the upper right corner of the Daily Blog. Readers are invited to scroll through the table and consider the broad scope, grades and die varieties of this complete set.

The auction sale is target for the middle to end of Janaury with the timing being a function of image processing and description generation.

More will be shared as photography and image processing is initiated. I'm most pleased that the 1861 CSA Restrike was CAC approved as this piece screamed originality when first examined.


AU58s Galore! Twin Lakes Consignment - Part 1

The Twin Lakes Collection is back with yet another AU58 type coin consignment along with some better dates to tease the community. The following client gallery is the first installment. The second is a large lot of Lincoln cents that will enable GFRC to launch this 20th century coinage product line.

Please consider the following gallery as there are some superb offerings. We open with a wonderful 1917-S PCGS AU58 CAC approved Walker with the mintmark on the obverse. GFRC images are 100% accurate with respect to coloring and hints of the to be expected luster. Next is a lustrous 1835 B-5 Capped Bust quarter with final die state (5) die cracks throughout the obverse. How about an attractive 1913 Barber quarter with brilliant frosty luster and CAC approval? This lot has a bit of something for everyone and will be popular once reaching Collectors Corner.

First Right of Refusals are recommended to avoid disappointment. Already, there are requests for the 1913 Barber quarter and the lightly toned 1906-D Barber half. If my day goes as planned, these new offerings will start appearing on the price list by dinner time.


Twin Lakes AU58 Type Coin Consignment - Part 1

1917-S Obverse PCGS AU58 CAC 50C

1835 B-5 DS5 PCGS AU58 25C                                                      1913 PCGS AU58 CAC 25C    


 1855  PCGS AU58 CAC 1/2C                      1864 Bronze PCGS AU58 1C                      1864-L PCGS AU58 CAC 1C


1868 PCGS AU58 CAC 1C                         1871 PCGS AU58 CAC 1C                             1876 PCGS AU58 3CN


    1849/6 PCGS AU58 H10C                               1919-S PCGS AU58 5C                         1892-S PCGS AU58 CAC 10C


1928-S  PCGS AU58 10C                              1875-S PCGS AU58 25C                              1877-S PCGS AU58 25C


1891-S  PCGS AU58 OGH 25C                     1906-D PCGS AU58 CAC 50C                   1906-D PCGS AU58 CAC 50C



GFRC Continues to Ship Orders

The annual holiday season is always a challenging burden for USPS. The 2020 season has been that more difficult due to Covid-19 infection rate among workers and a shift to online shopping. Increased online shopping has tested the processing capacities of all major delivery services.

Yesterday, one of the major retailers in the numismatic industry announcement a curtailment of USPS shipments until January 4th. I was taken back by the announcement as GFRC continues to ship orders on a daily basis. Shipment arrival times have expanded due to volumes but so far (knock on wood) all shipments have arrived in good order with customers continuing to be pleased with GFRC services. In particular, USPS Express shipments are operating normally.

Some clients have requested that GFRC hold their shipments until after Christmas or even New Year. We understand the concerns and will follow customer instructions.


Global Financial News

After setting new record highs on Thursday, U.S. equity market futures are flat to start the day. All eyes will be on Tesla as it is added to the S&P 500. Morning market futures are listed after this Seeking Alpha headline concerning the Tesla index debut.

Tesla makes grand entrance into S&P 500. Index funds tracking the S&P 500 have a small window today to buy nearly $80B worth of Tesla stock as the EV maker gears up to join the widely tracked stock index. It's going to be a wild scene for investors in the minutes before Friday's close, and traders are also watching how the giant addition will ripple through the derivatives market, with big swings influencing options pricing. Adding to the volatility: Tesla is easily the most traded stock on Wall Street, and has surged 50% since November (when its S&P debut was announced) and almost 700% year to date. Helping to smooth out the addition: Quadruple witching, which refers to the day that options and futures on both indexes and stocks expire simultaneously, and generally produces heavy volumes that can boost liquidity. At over $600B, Tesla will become the most valuable company ever admitted to Wall Street's main benchmark, accounting for over 1% of the S&P 500 index.

Here are morning market futures courtesy of Seeking Alpha.

In Asia, Japan -0.2%. Hong Kong -0.7%. China -0.3%. India +0.2%.

In Europe, at midday, London +0.2%. Paris +0.2%. Frankfurt +0.2%.

Futures at 6:20, Dow flat. S&P +0.1%. Nasdaq flat.

Friday morning sees spot gold quoting at the $1887/oz level and approaching a critical technical chart period in the next ten days. This topic will be explored in Saturday's Blog. Crude oil pricing remains on an upward trend at $48.49/bbl.

Bitcoin has shot up to $23,109/coin. The new discussion is whether Bitcoin has superseded gold as the new inflation hedge. This Seeking Alpha headline is worthy of review.

Gold vs. Bitcoin. Goldman Sachs is the latest to weigh into the gold vs. Bitcoin debate after JPMorgan argued that the rise of cryptocurrencies in mainstream finance is coming at the expense of bullion. "Gold's recent underperformance versus real rates and the dollar has left some investors concerned that Bitcoin is replacing gold as the inflation hedge of choice," the bank said in a research note. While there has been some substitution, "we do not see Bitcoin’s rising popularity as an existential threat to gold's status as the currency of last resort." Bitcoin has had a wild month, challenging $24,000 yesterday after passing the $20,000 milestone for the first time on Wednesday. Gold's up 24% YTD, but has since drifted after setting a record above $2,075/ounce in August.


Wrapping Up The Blog

I'm looking at another long day in the GFRC office with a host of consignments to processed and Twin Lakes Collection descriptions to write.

Thursday brought a busy order day with much of the posted fresh new purchases quickly selling. The new City by the Bay Collection consignment also arrived and will be photographed today.

Consignments are GFRC's life blood with every new shipment being sincerely appreciated.

Thank-you for stopping by and taking in another day of GFRC ramblings. Please remember to be careful and safe out there.





December 17, 2020

What is a Grapple?


Quality CAC Approved Type to Consider!



Greetings and welcome to another edition of the Blog. It is a Thurday morning.

As the Blog is being composed, the entire Northeast U.S. is being hit with a substantial snow storm. Southern most Maine points will see 6 to 12" while our Raymond homestead should see less than 6". Down in mid-west coast Florida, Wednesday afternoon brought a serious tornado to the Tampa area with storage and commercial buildings hit hard along with an adjacent residual area. Luckily, no one was injured. The thunderstorm line was narrow but intense and remained above the Sarasota/Venice corridor. We received some rain during the later afternoon but were not aware of the tornado until watching the 5:30 PM news.

The other important news of the day, at least on a personal basis, is a change to my John Deere 2025R tractor purchase order. For several weeks, I've been questioning the decision to go with an electric grapple towards saving the expense of third function hydraulic plumbing on the tractor. Online research took place resulting in the conclusion that though the electric grapple provides functionality, its longer term reliability is questionable if used extensively. Some owners have reported battery failure due to cycling issues and early burnout of the electric actuator motor. Given a serious amount of sawn log and rock moving in the back 20 acreage, the decision to spend additional money for a full fledged hydraulic grapple made sense.


What is a Grapple?

For those who are not familiar with the term "grapple", it is equivalent to the grabbing capability of a hand at the end of a wrist. With a grapple, the three functions of a front end tractor loader are equivalent to elbow, wrist, and hand movements. Each movement requires a "hydraulic circuit" for actuation and control. Following is an image of the ordered single clamp Frontier AV20 53" grapple. It is designed with sharp steel "rakes" to pickup brush, logs, and rocks. The opening and closing piston is easily seen on the image.


New City by The Bay Collection Consignment Shipping Soon

The City by the Bay Collection was an active participant in the Hoosier Collection sale. His auction purchases have arrived with immediate satisfaction. As a result, duplicates are available and shipping to GFRC shortly. Following is a preview of the latest City by the Bay Collection consignment. Several were sourced from GFRC with the sales records available in the Sales Archive.

Seated 10c: 1887-S PCGS MS63

Seated 25c: 1860-S PCGS F15; 1866-S PCGS VF25; 1869-S PCGS EF45 OGH; 1869-S PCGS EF40; 1878-S PCGS VF25

Seated 50c: 1868-S PCGS AU53; 1871-S NGC AU55; 1875-S PCGS MS62


Quality CAC Silver Type Reaching Price List

Operating a predominately consignment sourced business dictates some tactical buying to ensure that all product lines remaining reasonably current with eye appealing offerings. At GFRC, I love to work with clients for trades and purchases along with wholesale purchases where the numbers make sense.

Following is a wonderful lot of new purchases for your consideration. The 1818 B-8 Capped Bust quarter and 1914-S Barber quarter offer some serious eye appeal are deserved JUST BUY IT NOW recommendations. The 1806/5 B-1 quarter is wonderfully preserved with bold overdate.

All have reached the price list with partial descriptions. I will add full descriptions by end of day. Already, the 1843-O dime has a FRoR, and no surprise. This date is so challenging choice with CAC approval.


Quality CAC Approved Type to Consider!

1806/5 B-1 PCGS EF40 CAC 25C                                                        1891 PCGS MS64 CAC 50C     


 1843-O F-101 NGC VF25 CAC 10C             1818 B-8 DS5 PCGS VF25 CAC 25C                  1914-S PCGS F15 25C               


 1850-O PCGS VF30 25C                               1857-S PCGS F12 25C                                 1890 PCGS VF30 25C      



Global Financial News

Global investor optimism abounds as we start another trading day. Fed Chair Jerome Powell has taken a "dovish" stance towards the U.S. economy and will do what it takes to sustain economic well being. This accomodative position plays well with the investment community as more stimulus translate into more fuel for the equity markets. As a result, morning market futures are once again positive.

In Asia, Japan +0.18%. Hong Kong +0.8%. China +1.1%. India +0.95%.

In Europe, at midday, London -0.3%. Paris +0.3%. Frankfurt +0.5%.

Futures at 6:20, Dow +0.5%. S&P +0.2%. Nasdaq +0.5%.

The other important news of the day are a Bitcoin pricing breakout to $22676/coin and U.S. dollar weakness to the mid $89 level.

As a result of USD weakness, spot gold prices have climbed to $1877/oz. A weak USD is bullish for commodity prices moving forward into 2021. Crude oil pricing continues its slow accent with a quote at $48.12/bbl. The 10 Year U.S. Treasury yield remains flat at 0.92%.


Wrapping Up The Blog

Little changes in the GFRC Venice office. Orders rates continue to be steady, especially from Collectors Corner.

I will be working in the office the entire day other than a health walk. The weather forecast calls for a cool but bright sunny day. Top priority is the photography of the Southern Texas and Murphys Collection consignments along with a portion of the upcoming Cumberland County Liberty Seated Half Dollar auction lot.

Please consider potential consignment proposals as GFRC needs your coins heading into an anticipated strong 2021 first quarter. Why not sell during a period of strong retail prices?

Thanks for checking in at the Blog. It goes without saying that Covid-19 remains a critical health issue and we must remain vigilant. This nightmare will be over soon.



December 16, 2020

Osprey Collection - Inexpensive U.S. Type Gold


Greetings on a Wednesday morning and welcome to yet another Blog edition.

Each day starts early at about 4:00 AM. I've found that the quiet period between 4:00 to 6:00 AM provides time for breakfast while scanning online portals for potential Blog content and/or commentary. Raymond and Venice weather situations are also checked. Raymond for monitoring temperatures and snowstorms while Venice is checked for coin photography opportunties.

Thought I was not initially excited to leave the Maine homestead and return to Florida for the winter, this morning's weather forecast confirm why the Fortin's conduct their annual migration. Raymond temperature is a cold 11F with another snowstorm on the way. This is in stark contrast to Venice at 61F with thunderstorms forecasted for the afternoon hours. Coin photography must be delayed until Thursday which is not an issue as there is always a queue of photographed images to pull from. In today's case, Twin Lakes Collection will be processed and shared as a new client gallery by end of day.

Today's Seth Godin blogpost certainly rang home. Godin discusses the importance of a daily blog; imagine that!


Seth Godin Blogpost: A place to write

One reason that successful and prolific singer-songwriters are prolific is that as soon as they’ve written a song, they can record it and publish it.

And a huge advantage of having a daily blog is that the software is always open, waiting for you to write something.

Your story doesn’t have to be a book, it is simply your chance to make a difference. “Here’s what I see, here’s how you can be part of it.”

When we remove the pre (finding the pen, the paper, the notebook, the software) and the post (finding a way to publish it), it turns out that we write more often, and writing more often leads to writing better.

It doesn’t have to be perfect, it can simply be the next thing you do.

The patterns matter. Streaks work.

All part of your practice.


GFRC Online Auctions Logo and Artwork Update

I'm pleased to report that substantial progress has been made with the GFRC Online Auctions logo and banner graphic design. My humble business has grown to the point of warranting professional graphic design house generated artwork for the website and for advertising forthcoming auctions. Adding an auction module is an expansion of the existing retail sales business and necessitates increased visibility in the marketplace. I am committed to providing the utmost quality auction services with advertising being a incremental component.

If all goes to plan, the new GFRC Online Auctions logo and banner will be shared in the Blog by this coming weekend. The timing will coincidence with the Watch Hill Toner Morgan Dollar Set Sale catalog that will also be published on Saturday or Sunday.

Excited can best describe my feelings for the new auction graphics. After years of hand generating my own primitive banners, the use of a professional firm is refreshing and of course, another personal learning opportunity. Dan White has reviewed the draft graphics and replied with one word; Powerful!


Fresh Consignments and Auction Lots Wanted! Please Offer.

Last evening, I sat in the lanai with a small glass of tequila and reflected on the potential numismatic market as we approach 2021.

Based on the fast paced GFRC sales rate during a traditionally slow holiday month, it became apparent that January and February will be a fantastic online sales period for those who have quality inventories in place. The reasoning is straightforward.

With the cancellation of the Winter FUN show, the Long Beach show, and no signs of a Spring Baltimore show, collectors will migrate to dealers who have the most comprehensive online presence and inventories during the cold winter months. There is an ongoing pent up demand for quality coins. The just completed Hoosier Collection Sale is an example where low population CAC approved coins sold for multiples of the "guides". Post auction sales have also been robust along with regular retail sales.

Looking into early 2021, I see continued, and probably heightened demand for quality early type.The early months of 2021 will be an opportunity to sell your coins or complete collections at strong prices. Choosing GFRC for Liberty Seated, Bust, U.S, gold, and Barber coinage leverages our low commission rates and integrated sales platform. Whatever does not sell immediately at auction, promptly moves to the retail price list and Collectors Corner.

Your role as a client in the GFRC process is straightforward. First is making a decision to sell. Second is taking your collection(s) from the bank box and shipping to GFRC. Third is approving my proposed auction reserves or retail sale prices. Afterwards, your role is to sit back and enjoy watching the marketing and sales process. Throughout the entire process, clients have direct contact with the individual who is handling their cherished coins. How can divesting a collection be easier?


Osprey Collection - Inexpensive U.S. Type Gold

Today's featured gallery is the balance of a recent Osprey Collection consignment. This new offering is ideal for those seeking Indian U.S. gold for a type set. None of the dates are rare, rather they were sourced from Western Europe coin shops and galleries during his last buying trip. Nearly all were purchased raw and freshly graded. You will find the pricing to be attractive and fair for the quality.

Please check the 30 Day Price List as I've loaded the majority of these offering last evening. Already, one order arrived during the overnight hours.


Osprey Collection - Inexpensive U.S. Type Gold

1909  PCGS AU55 G$2.5                           1925-D PCGS MS62 G$2.5                              1909 PCGS AU58 G$5


 1909  PCGS AU55 G$5                              1914-S PCGS EF45 G$5                              1905 NGC MS62 G$10


 1909-D NGC MS61 G$10                              1913 NGC MS61 G$10                                1926 NGC MS62 G$10



Global Financial News

Tuesday brought a positive day for U.S equity markets with the Dow Jones Average closing at 30,199. This morning's market futures, courtesy of Seeking Alpha, are pointing to additional gains for U.S. and global markets. After the futures, I will share a headline that brings an optimistic perspective to Covid-19 vaccinations rates.

In Asia, Japan +0.3%. Hong Kong +1%. China flat. India +0.9%.

In Europe, at midday, London +1%. Paris +0.7%. Frankfurt +1.6%.

Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.3%.

Vaccine rollout. The time frame in which most Americans will be eligible for a coronavirus vaccine keeps moving up. Just two weeks ago, Dr. Moncef Slaoui, head of Operation Warp Speed, said the U.S. could immunize one-third of its population within three months, but it now looks like most of America could get a vaccine by that date. "Depending on the decisions by our governors... but I believe we'll have enough supply out there to be reaching out to the general public for administration - at your CVS, Walgreens, Krogers - by the end of February into March," said Health and Human Services Secretary Alex Azar. That timeline could be even earlier if the approval of the AstraZeneca and Johnson & Johnson vaccine comes soon, he added. On Tuesday, the FDA said that a jab developed by Moderna was "highly effective," setting the stage for an emergency authorization later this week, while Pfizer and BioNTech began shipping their vaccine nationwide on Sunday.

In commodity news, crude oil continues its slow upward pricing march and is quoting at $47.68. Gold is also moving upward at $1868/oz. The 10 Year U.S. Treasury yield is flat at 0.92%.


Wrapping Up The Blog

Yes, today brings another full day in the GFRC office. At 11:00 AM, the Watch Hill Collection consignor and I will finalize reserve prices for his beautiful Morgan dollar collection. Otherwise, I will be focused on selling coins via phone and email along with processing the Twin Lakes Collection images.

Thanks for checking in at the Blog. Again, please remember to be safe and respectful of social distances. We probably have another three months of Covid-19 risks before mass vaccinations have an impact.




December 15, 2020

Important 85% CAC Buyback Reaches Price List


Preparing Watch Hill Toner Morgan Dollar Set Sale E-Catalog


Greetings and welcome to more numismatic ramblings on a Tuesday morning. I would be lost between 5:30 to 8:00 AM each day if not sitting in the office and preparing another Blog edition.

I would like to start today's Blog with a Covid-19 reminder. This virus is virulent and shows no signs of abatting. Sadly, the Florida daily infection rate appears to be averaging 9000-10,000 cases per day leading to the death of about 60 Floridian during every 24 hour period. These are huge numbers. Awareness and self-protection are paramount to ensure that our community members do not become statistics. The Fortins are staying close to home when not conducting daily GFRC post office deliveries or out purchasing groceries. Though we are all tired of self-isolation, health is paramount for a happy life.

Covid-19 has brought an impact to GFRC marketing. No dealer with a sound mind would schedule an auction during the Christmas to New Year timeframe. This is a traditional holiday period as many take long vacations including cruises and international travel. However, the closing days of 2020 are different. Most everyone is sheltering in place with online activities being a source of entertainment. Therefore, GFRC has decided to schedule the Watch Hill Toner Morgan Dollar Set Sale during that holiday period. The toner Morgans are beautiful works of art to be enjoyed regardless of your potential bidding. GFRC is doing its small part to sustain the passionate numismatists within our community and I hope you will enjoy the E-Catalog that will post on December 18.


Important 85% CAC Buyback Reaches Price List

Simplicity has been an operating principal during my entire life. When operating in the semiconductor industry, silicon technologies are highly complex and difficult to comprehend due to physics and quantum theory. There would be those that relished in that complexity towards ensuring their long term professional importance and value. When operating in a Marketing & Sales role, simplified communications were the imperative. Complex concepts were stripped to their core points so as to be easily understood.

The GFRC 85% CAC Buyback program is an example of my simplified operating philosophy. Several dealers warned me that there would be cases where I might pay too strong for a coin if the marketplace had shifted between the sale and buyback dates. Their advice was acknowledged. However, simplicity won at the end of the day. The GFRC 85% CAC Buyback program is straightforward. I will buyback any CAC coin sold via the fixed price list at 85% of purchase with no questions asked. Clients have an easily calculated pricing floor if they must liquidate coins in their collection.

If checking the 30 Day Price List, you will note four new CAC offerings that were just repurchased. Among the four is a truly impressive 1870-S $20 double eagle. Silver type collectors, with no U.S. gold exposure, are probably wondering what is so special about an 1870-S double eagle when the mintage is 982,000. Please allow me to answer this question.

$20 double eagle production was limited to the Philadelphia, Carson City, and San Francisco mints. Of the three mints, San Francisco strikes are the most available for date set collectors. Philadelphia mintage was much smaller at 155,000 pieces. The 1870-CC date is a majority rarity and requires a mid six figure budget for purchase.

Large denomination San Francisco struck coinage, during the western frontier days, became commerce vehicles with the Orient or heavily circulated if remaining stateside. The 1870-S date also is well known for major rarities including the single known Liberty Seated half dime and the Seated dollar rarity.

The 1870-S $20 double eagle is available in lower circulated graded but becomes a significant rarity in Mint State. Nearly all "Mint State" certified examples are found with heavily abraded surfaces resulting in MS60 and MS61 grades. PCGS population is only seventeen for the MS62 grade level and two at MS63. A CAC approved MS62 is a $24,000 coin per the CDN guide with a single example listed!

When understanding this background, the opportunity to repurchase this PCGS AU58+ CAC example was a no-brainer as at the ideal value point. This piece has frosty luster and swirling cartwheels along with minimal abrasions. The AU58+ grade is about as close to an MS62 as possible but at a small fraction of the higher certified price. Astute collectors who buy the coin and not the TPG label should carefully inspect the GFRC images and consider this important offering. I certainly did not hesitate to buy this one back.


Impressive U.S. Gold 85% CAC Buyback

1870-S PCGS AU58+ CAC G$20



Preparing Watch Hill Toner Morgan Dollar Set Sale E-Catalog

Much of Monday was spent with the Watch Hill Morgan dollar set and working through the reserve pricing proposal for the consignor. If these were your typical frosty white Morgans, the process would have been straightforward and quick. However, when examining beautifully toned silver pieces that are nature's artwork, developing a price strategy becomes more complex. It took the entire afternoon to complete the pricing process.

When examining each Morgan, I was also capturing notes for Len Augsburger. I've asked Len to write the descriptions for this collection given my large consignment queue that needs to migrate to the price list. Since Len is in Chicago and does not have direct access to the coins, I developed a nomenclature to describe the luster and cartwheels for each piece. Luster characterization employed standard terms including frosty, steely, partially mirrored, and fully mirrored (PL). Evaluating cartwheels is a much more subjective exercise. You will laugh when learning of the terms; dancing, swirling, typical etc. Since being an engineer, I defined an evaluation method that used the amount of rotational force required to stimulate the cartwheels under a bright light. "Dancing" is a term that describes a coin that requires little movement to bring about magnificent cartwheel action. "Swirling" requires more force. "Typical" designates an average coin that must be strongly rotated under a light to activate the cartwheels. So Len, I hope that you captured my points!

Len sent along the below image of his numismatic office, including all the reference books that could be imagined for the description preparation process. He sent along this brief comment.

Gerry – I’m ready to go. At hand are the Bowers Encyclopedia, the Van Allen / Mallis variety guide, CDN pricing guides, the Red Book, and several color charts. Folks from the Chicago area will note the Bob Chinn’s plastic tumblers.



Please Save Me from Covid-19: Send Consignments for Continued Isolation!

Now that Len is bringing the Watch Hill Collection catalog to the finish line, I will be focused on consignments during the balance of the week. There is mental comfort when the 30 Day price list has at least 100 listing and the CAC price list is moving back to the 350 coin level. My plan is to continue pouring out more consignments as we approach the end of year.

The current GFRC consignment backlog may appears substantial but will be consumed fairly quickly with some dedicated efforts.

The GFRC window for incremental consignments is wide open! Whether you have a handful of duplicates or a large collection, please consider employing the GFRC team for handling these divestments. GFRC is a small but highly dedicated team that gets stuff done. No other dealer ships such a large percentage of purchases via Quick Ship as an example of our differentiated service.


Global Financial News

Today's opening Seeking Alpha headline is no surprise. Major U.S. cities are seeing a population exodus. Liberal agendas along with excessive taxes are incentiving those with means to relocate.

Fleeing the city. Businesses and residents are continuing to flee large American cities in droves. A plethora of new taxes and regulatory schemes, surging poverty and violent crime, and a nightlife and culture brought to a near halt by the coronavirus crisis have sped up the exodus, while the pandemic exacerbated a shift towards remote work as a whole. In fact, New York lost at least 300K residents this year, followed by substantial population losses in San Francisco, Los Angeles, Chicago and D.C. Most have overwhelmingly relocated to the Sun Belt or the West outside of California, and Wall Street is taking notice. "I suspect Florida will soon rival New York as a finance hub, due in part to the 'Tax and Spend' policies of New York," said Leon Cooperman, the billionaire former hedge fund manager and CEO of Goldman Sachs Asset Management which fled to Boca Raton.

Large tech companies are also fleeing California for similar reasons. Governments can tax and spend to a point of no return leading to residents voting with their feet.

Exodus out of California. Not only is Oracle relocating its headquarters from California to Texas, but co-founder Larry Ellison is moving his primary residence to Hawaii, becoming the latest Silicon Valley executive to depart the state where they built their fortunes. "I'll be using the power of Zoom to work from the island of Lanai," he wrote in an email. The announcement comes just days after Tesla's Elon Musk, a close associate of Ellison's, confirmed that he had moved to Texas, after expressing displeasure with California's regulatory environment. Hewlett Packard Enterprise also recently relocated its headquarters from San Jose, California, to Houston, Texas, while Palantir moved its HQ to Denver from Palo Alto.

Morning market futures are once again positive. However that opening optimism can shift quickly as we experienced on Monday. Following are global market futures courtesy of Seeking Alpha.

In Asia, Japan -0.2%. Hong Kong -0.7%. China -0.1%. India flat.

In Europe, at midday, London -0.3%. Paris +0.4%. Frankfurt +0.7%.

Futures at 6:20, Dow +0.6%. S&P +0.6%. Nasdaq +0.4%.

Crude oil pricing is flat at $47.08/bbl while spot gold has recovered to $1849/oz. The 10 Year U.S. Treasury bond yield has moved down slightly to 0.90%.


Wrapping Up The Blog

Another GFRC office day awaits me so best to get into the shower followed by morning shipping preparations for Diane.

There is little else to said other than I'm always available for your purchase orders and consignment proposals.

Thank-you for stopping by at the Blog!





December 14, 2020

GFRC Attains $7,000,000 Consignor Proceeds Milestone


Len Augsburger: Manage Your Collection Like a Pro


Greetings on another Monday morning. The middle of December has arrived along with the holiday season.

Frankly, it is difficult to find holiday exuberance during the closing days of 2020. The warm Florida climate is inconsistent with memories of snowy Christmas past in Maine. Covid-19 has impacted travel with both Matt and Renee's families staying home for the holidays in Beijing and Austin. The high Covid-19 infection rate in Florida translates into little holiday seasonal activities and mostly personal isolation at the Venice condo.

On a positive note, everyone is healthy with two wonderful grand-daugthers quickly growing up. The family is busy pursuing individual careers while parenting.

The GFRC business has enjoyed a fantastic year given the shift of the numismatic hobby from coin show attendance to online buying. Our community is strong and without a single report of a client contracting Covid-19 infection. Come the end of December, I will publish another GFRC annual report to share the growth progress with clients and customers.

Living life with a glass half full perspective is the key to happiness. Sometimes a new interest can bring fun and relaxation. Case in point is personal online viewing changes. Lunch times are spent eating a salad and viewing John Deere compact tractor videos for self education in operating and maintaining the forthcoming JD 2025R that arrives in April 2021. When worn out after a long day in the office, instead of the Raymond basement sound room, I've found relaxation with the original Addams Family Youtube episodes and the beautiful Anjelica Huston as Morticia Addams. There is elegance in the simplicity of the individual episode themes and the pre-internet age humor.


GFRC Attains $7,000,000 Consignor Proceeds Milestone

I'm pleased to announce that the GFRC business has achieved another noteworthy milestone. The Hoosier Collection AU58 Seated Quarter Auction Sale allowed GFRC's overall consignment proceeds to break through the $7,000,000 mark. If one does basic math and considers that GFRC average commission rate is 9.5%, this leads to nearly $7,800,000 in consignment sales since launching the business back in 2014.

The ongoing Consignor Proceeds metric can be viewed at the ConsignorValue link. GFRC believes is business transparency and openly sharing key metrics with clients. One can also view the average commission rate and median days to sell a coin.

This latest milestone would not have been possible without the dedicated support of the consignor community. GFRC has been blessed with a steady stream of consignments as collectors learn about and internalize the Trading Desk model. The new GFRC Online Auctions will only increase the rate at which quality coins are offered by clients. It become clear that collectors seek to have their coins offered by auction first followed by a secondary sale options for those not selling immediately at auction.


Hoosier Collection Auction Shipment Status

Diane and I worked throughout Sunday afternoon preparing Hoosier Collection Quick Ship packages. Many are shipping via the safety of USPS Express given the overloaded USPS system during the final days before Christmas. Several bidders asked that we hold shipment until after January 1, 2021 to ensure safe passage of regular Priority Mail shipments.


Len Augsburger: Manage Your Collection Like a Pro

Let's move on to a new guest blog from Len Augsburger. His advice is timely as GFRC continues to ramp its new Online Auction platform.

When spending considerable sums of money for collectibles, it is wise to document purchases and maintain a cataloging system. Basic practices like removing auction house labels from TPG holders is important before glues turn to cement. No one wishes to purchase a holdered coin at auction only to discover large amounts of residual glue or unremovable labels. It is not the auction company's responsibility to remendy poorly maintained holders.

Len also touches upon the important point of die variety attribution. When consigning auction lots to GFRC, I will attribute most coins to the established references to ensure that clients receive fair value. However, not all auction companies provide this service. Some simply list the contents of the TPG holder label and little if any description. Again, important die varieties should be documented as part of the cataloging of a collection.

At the end of the day, we are all dealers. We all have groups of coins that we buy and sell from, some more quickly than others. Dealers put out their “collections” at large shows, sell some pieces, and add to their “collection” through purchases. Dealers of course work with a profit motive, and have to find other work if the profits aren’t forthcoming. Collectors aren’t constrained by the need to make a profit and can buy simply for enjoyment or to pursue a challenging objective like set completion. Of course, the people selling coins like to propagate the idea that you can collect for some objective besides profit, and still make a profit. And, to be sure, as collectors we’ve all made our “scores” here and there.

While dealers aren’t constrained by the need to complete sets or wait ten years for exactly the right coin, business demands that they manage their “collections” in ways not required of collectors. It all starts with a list. How can you buy a coin from a dealer unless they have a written inventory? Sure, a few people operate off the grid with no records and a thick wad of cash. But most dealers these days, and just about everyone on the national circuit, has to maintain a website and a list of the inventory.

Suppose a dealer showed up at a show with a hodgepodge of 2x2s, slabs, flips, Whitman albums in varying state of completion, completely disorganized, and threw it in a case. That wouldn’t work real well. And yet, if you looked at a lot of existing collections, this is precisely the state of organization you would find.  Let’s be blunt. This is *not* a nice thing to do to your heirs, and it’s not the way you want to be remembered. Even if your heirs know who to call up, that’s only a start. GFRC, or any reputable dealer, will still be happy to handle the collection, but leaving things in a sorry state will cost the estate. Let’s review some of the benefits of keeping things well organized.

Faster disposition of the estate. If your dealer has to sort and organize everything, that takes time. If you have an accurate inventory, a dealer can immediately evaluate what goes to auction, what goes to wholesalers, and what should go on a fixed price list.

No attribution misses. If you own rare varieties that are unmarked, they may be missed when the estate is settled, especially if the coin count is high. No one knows your coins better than you do. Be sure to record your knowledge. A dealer handling the estate may not have the time to sit down for an extended session with the coins and the variety attribution guides.

Pedigree preservation. The only way to preserve a record of your ownership of coin is to photograph the entire collection. A dealer who is pressed to settle the estate can’t afford to spend time imaging everything – especially lower cost pieces. You can do this at your leisure, and just about anyone with a cell phone can get images sufficient for identifying the coin later.

Tax management. If you buy and sell coins along the way, as most do, you need to know what you bought and sold them for. The only way to do this is to keep good records. We’d all rather be coin collectors than accountants, but that’s part of the game. I sold some coins profitably in 2020, but managed to balance things out with a few losers.

Increase your take. A dealer will quote a lower consignment rate if they know the material is already organized and ready to sell. If there’s work involved, the seller is going to get less.

Gerry occasionally posts pictures of unboxed collections as they come through the door. I’m pleased to say that most of the GFRC consignors seem fairly well organized. A box of slabs with a clean inventory list is the gold standard, and with this as a starting point, GFRC can proceed straightaway to the “value add” part of the overall process – screening for upgrades, CAC potential, and making the right determination about the most profitable way to market the collection.


GFRC Consignment Queue Status

Now that the 30 day price list is back over 100 coins, my plan is to quickly work through several consignments to ensure that we maintain that price list well ahead of 100 pieces. The following consignments are in various processing stages.

Osprey Collection Part 2 - A nice group of lower price U.S. collector gold. These are completing image processing and will be listed shortly.

Twin Lakes Collection - A double row slabbed box of AU58 type along with a host of Lincoln cents to start-up that product line. These have been photographed.

Southern Texas Collection - A large lot of duplicate Liberty Seated quarters and halves, both holdered and raw. These are awaiting photography.

Murphys Collection - Another five piece lot of Carson City Liberty Seated halves that is in the photography queue.

Gerry Fortin Reference Collection - A double row slabbed box of Liberty Seated dimes. Unfortunately, priority is always given to other consignors.


85% CAC Buyback/Call for New Consignments

With the Winter FUN show cancelled, GFRC will have extra processing bandwidth to handle incremental consignments and 85% CAC Buybacks.

Without the FUN show, sourcing fresh coins remains challenging with my primary source being the GFRC community. If you've been toying with the idea of selling duplicates, please contact me at 207-329-9957 or gerry@seateddimevarieties.com. My only requirement is that offered coins must be consistent with existing product lines and pricing levels.


Global Financial News

It appears that an equity market end of year rally (Covid-19 Vaccine rally) might be at hand. Morning market futures are forecasting a reasonably strong open for U.S. markets. Over in Europe, the deadline for Brexit trade deal negotiations has been extended fueling investor optimism.

Following is the Seeking Alpha headline concerning U.S. investor optimism as Covid-19 vaccinations are launched.

Futures point to another vaccine rally. Hopes for a continuing economic recovery saw cyclicals lead the advance for futures overnight as the U.S. gears up for a historic vaccine rollout. Dow +0.8%; S&P 500 +0.6%; Nasdaq +0.4%. "The vaccine has and will likely continue to provide a tailwind to the market that is allowing investors to look beyond record case levels, hospitalizations and deaths," said analysts at JPMorgan. On the stimulus front, a bipartisan group of lawmakers is readying a two-part proposal with $908B in pandemic relief, though disagreements remain between the two parties over liability protections for businesses and funding for state and local governments. The best chance for passing a bill would be to attach it to the 12-bill omnibus package Congress must pass by Friday to fund the federal government. It's a big week: The Federal Reserve will hold its final meeting of 2020 on Tuesday and Wednesday, with any guidance on continued asset purchases watched closely by Wall Street.

In Asia, Japan +0.3%. Hong Kong -0.4%. China +0.7%. India +0.3%.

In Europe, at midday, London +0.4%. Paris +1.1%. Frankfurt +1.2%.

Futures at 6:20, Dow +0.8%. S&P +0.6%. Nasdaq +0.4%.

Optimism can also be found in the oil market as crude is holding it increased pricing levels. The morning quote is $47.06. Spot gold is down a bit at $1827/oz. The 10 Year U.S. Treasury bond yield stands at 0.92%.


Wrapping Up The Blog

I believe that this Blog edition has covered all important GFRC news.

Yes, I will be in the office the entire day working on consignments and setting the reserve prices for the upcoming Watch Hill Toner Morgan Dollar Set Sale.

Every purchase order is precious and I look forward to to phone calls and email inquiries.

Again, thanks for spending some online time with GFRC and the Daily Blog. Be safe and well.