Gerry's Daily Blog

January 16, 2018

Liberty Seated Dime Web-book Plate Coins Arrive

Greetings and welcome to the Daily Blog on a quiet Tuesday morning. Your ongoing readership and support is very much appreciated.

Let's start the Blog with a quick look at weather. The balance of the week brings a warming trend for the eastern United States and no major weather events. Venice temperatures will improve quickly and return to low to mid 70s. After light snow on Tuesday and Wednesday, Maine will enjoy a much needed warming trend with daytime highs in the 40s and generally sunny skies.

 

Seth Godin's Blog: The Four Element of Entrepreneurship

Let's open today's edition with a visit to Seth Godin's Blog. Lately, Godin has been posting more in depth topic discussions and many are too long to feature here. I found today explanation of entrepreneurship to be personally important and worth sharing. Once again, the Godin blog is long and I'm pulling excerpts that capture the salient points.

The four elements of entrepreneurship

Are successful entrepreneurs made or born?

We’d need to start with an understanding of what an entrepreneur is. They’re all over the map, which makes the question particularly difficult to navigate.

There’s the 14-year-old girl who hitches a ride to Costco, buys 100 bottles of water for thirty cents each, then sells them at the beach for a dollar a pop. Scale that every day for a summer and you can pay for college.

Or the 7-time venture-backed software geek who finds a niche, gets some funding, builds it out with a trusted team, sells it for $100 million in stock and then starts again.

Perhaps we’re talking about a non-profit entrepreneur, a woman who builds a useful asset, finds a scalable source of funding and changes the world as she does.

The mistake that’s easy to make is based in language. We say, “she’s an entrepreneur,” when we should be saying, “she’s acting like an entrepreneur.”

Since entrepreneurship is a verb, an action, a posture… then of course, it’s a choice. You might not want to act like one, but if you can model behavior, you can act like one.

And what do people do when they’re acting like entrepreneurs?

1. They make decisions.
2. They invest in activities and assets that aren’t a sure thing.
3. They persuade others to support a mission with a non-guaranteed outcome.
4. They embrace (instead of run from) the work of doing things that might not work.

As far as I can tell, that’s it. Everything else you can hire.

All four of these elements are unnatural to most folks. Particularly if you were good at school, you're not good at this. No right answers, no multiple choice, no findable bounds.

It's easy to get hung up on the "risk taking" part of it, but if you’re acting like an entrepreneur, you don’t feel like you’re taking a huge risk. Risks are what happens at a casino, where you have little control over the outcome. People acting like entrepreneurs, however, feel as though the four most important elements of their work (see above) are well within their control.

 

GFRC at Ft. Myers Coin Show: Saturday January 20

Jay, the Ft. Myers coin show promoter, called on Monday to inform that he had two tables available for GFRC. I reserved both with Jay providing six cases for free along with some lighting. Therefore GFRC will have a substantial display for a one day coin club show. A broad range of early type, United States gold and even raw coins will be featured at this show.

GFRC will also be in a buying mood. Raw type coin inventory needs to be replenished. Dan White will be aggressively looking for new inventory during dealer setup that starts at 7:00am. If you are in the Naples through Sarasota west coast Florida area, then please consider a visit to this small show and hanging out at the GFRC table. If you have duplicates or a major collection to sell, then please bring those along for review.

 

GFRC Consignment News

Monday was substantially productive and I'm feeling good as we start another business week. Pricing for the Golden Harvest Collection consignment was quickly approved and most of the lots are already on the price list. The 1859-S PCGS VF20 quarter was immediately scooped up by one of our community specialists on this denomination. There are several First Right of Refusal on the Seated halves and contact will be made today with those individuals.

Since there were no other major consignments behind Golden Harvest, it was the perfect opportunity to photography and process images for my own consignment. I'm really pleased to be offering a nice Seated dime lot that contains many plate coins from The Definitive Resource for Liberty Seated Dime Die Varieties Collectors aka the web-book. Nearly all dimes were purchased raw and have been certified during the last 3 - 4 years. Some have been to CAC for review and awarded green stickers. There is also a combination of PCGS and NGC holders as I was using NGC more frequently due to their accurate grading. There are several die varieties rarities in the lot along a few Brian Greer Guidebook plate coins. Just lots of fresh new inventory to consider on a Tuesday morning.

Gerry Fortin Collection Consignment - January 16, 2018

A Host of Liberty Seated Dime Web-Book Plate Coins

    

    

    

    

    

 

Global Financial News

Crude oil and spot gold are flat to start the week but Bitcoin appears to be in trouble. Crude oil remains at $64/bbl while spot gold is nicely holding the $1335 level. Bitcoin was hammered overnight and is currently quoting at $12343. Hopefully, no one bought Bitcoin at the $15,000 level or higher. Our opening Seeking Alpha headlines explains what is ailing Bitcoin plus more news to consider.

It's not a good day for cryptocurrencies, with South Korea stating a ban on trading was now "a live option" and China reportedly raising the bar on its cryptocurrency crackdown. Bitcoin dropped more than 10% within an hour, eventually tumbling 17% to under $12,000 for the first time since Dec. 6, while ethereum and Ripple posted losses of more than 20%.

Artificial Intelligence moves forward. Soon there will be no more call centers and customer service jobs. We will have the pleasure of speaking to machines rather than humans in the not so distant future.

The AI revolution... Alibaba's deep neural network and an AI software developed by Microsoft have outscored humans on a Stanford University reading comprehension test, which demanded answers to more than 100,000 questions. The win has broader implications for how companies deploy machine learning to replace customer service jobs that have so far relied on call-center employees to handle inquiries.

I support this move by U.S lawmakers as the Chinese are well known for using a long term Trojan horse approach for conquering enemies. Every major Chinese corporation is majority owned by the Beijing Central government. We must never ever forget this fact.

Due to national security concerns, U.S. lawmakers are urging AT&T to cut all commercial ties to Chinese phone maker Huawei and oppose plans by China Mobile to enter the U.S. market, congressional aides told Reuters. The lawmakers are also advising U.S. companies that if they have ties to Huawei or China Mobile - like partnering on 5G or selling handsets - it could hamper their ability to do business with the U.S. government.

We wrap up with the Greeks still dealing with bailout program reforms and local resistance.

Eying the end of eight years full of bailout programs, Greek lawmakers approved more austerity measures late Monday amid strikes and mass protests that brought much of Athens to a standstill. The reforms include tougher conditions for unions to call strikes, speedier property foreclosures and cuts to family benefits, but were demanded by lenders for Greece to receive its next bailout tranche worth around €6B-€7B.

 

Daily Featured Coins

Working with the Seal Beach Collection consignor is a true pleasure. This is a passionate individual with a deep appreciate for the numismatic hobby. His offerings are always in demand by the GFRC community. Following are current Sell Beach Collection offerings in GFRC inventory.

Seal Beach Collection Offerings

  

  

  

Today brings a substantial amount of packing and shipping that will consume me into early afternoon. The usual morning health walk will be delayed until I can get through the shipping backlog. Afterwards, the priority will shift to loading the last of the Golden Harvest Collection halves to the price list and pricing out my own coins as inquiries arrived during the overnight hours.

Again, thank you for stopping in and wishing everyone a great day and good fortune during the balance of a short work week.

 

 

 

January 15, 2018

MLK Holiday Monday Arrives!

Happy Birthday to Matt Yamatin!

Greetings on MLK Monday holiday and welcome to yet another edition of the Daily Blog.

A special call out to Matt Yamatin on his 30 something birthday. Good luck with the daily training for the upcoming Tokyo Marathon in February!

Miguel's French and Continental Restaurant - Sarasota, Florida

It is not often that I comment on a restaurant. However, last evening's dinner at Miguel's French and Continental Restaurant on Seista Key was absolutely fabulous. The venue is your classic hole in the wall eatery housed in a tiny mall with a tiny roadside sign. Upon entering, the first impression is that of a traditional European restaurant with soft lighting and well dressed servers. We had 5:00 pm reservations for the "early bird" session; a special four course meal priced to fill the house. The service was impeccable and the food was absolutely outstanding. My main course, a "seafood vent" and the appetizer, a duck and mushroom pastry, were most memorable. Wine selection was excellent also. Within 10 minutes of arriving, the venue was filled to capacity.

If ever in the Sarasota area, I would recommend making reservations at Miguel's followed by a scenic drive along Seista Key.

 

Consignments Wanted!

The GFRC Consignment backlog is rather thin, at the moment, and a perfect opportunity for sending along duplicates or an entire collection for raising cash or Trading Desk credit. Since the GFRC office is in Florida, the weather and living conditions are ideal for 48 hour consignment turns. This quick turn opportunity will be in effect between now and February 10. The Sarasota Coin Show arrives on February 23 followed by Whitman Baltimore on March 22. Consignments that arrive in the next 30 days will be featured at both of these important venues. GFRC will have 10+ cases at Sarasota and the traditional 9 cases at Baltimore show. Then we head to the Dalton, GA show followed by Central States in Schamburg, IL during late April.

 

GFRC Consignment News

Golden Harvest Collection Consignment

It is with great pleasure that we showcase a significant consignment from the Golden Harvest Collection. The Golden Harvest consignor is yet another case of a collector deciding to part with a substantial number of duplicates towards raising monies for new upgrades. This offering contains only Liberty Seated quarters and halves with a heavy mix of San Francisco dates. Many of the halves are graded AU58, an ideal collector grade. Finally, none of these coins have been to CAC since off the market for years. Several pieces are in different generation ANACS holders and it is immediately evident that the consignor had an eye for quality; purchasing the actual coins rather than the holdered grades.

I hope that you enjoy the following Golden Harvest Collection client gallery display. Already, the 1859-S 25c and 1859-S PCGS AU58 50c have an initial FRoR.

Golden Harvest Collection Consignment - January 15, 2018

A Special Offering of Liberty Seated Quarters and Half Dollars

    

    

    

  

 

GFRC New Purchases

Unfortunately, the new purchase queue is becoming thin and more hunting will soon be in order to service growing demand. Following are three new purchases with the 1904-S PCGS AU58 CAC $5 half eagle already sold. The 1821 Capped Bust quarter has been assigned a gem quality rating with the pictures being just a tad darker than the coin in hand. The 1923 Peace dollar is a rainbow toned gem. I love handling and placing coins of this caliber.

GFRC New Purchases

  

 

GFRC Open Set Registry - Liberty Seated Halves

Liberty Seated halves continue to be the top selling GFRC product line. Collectors simply love Christian Gobrecht's Liberty design that remained unchanged throughout the entire series. Following is a quick peek into the Open Set Registry and where the leader board stands for the Basic Date and Mintmark Set category. The TGM set is a new participant that immediately moved into fourth place. Sitting at the top three positions are Newtown, Seal Beach and Oregon Beaver. Newtown took a major step to cement his top standing by purchasing the 1878-S PCGS EF40 specimen at recent FUN show Heritage auction. Seal Beach and Oregon Beaver are only 0.1 rating point apart as of this morning. Also, keep an eye on the The Seated Appalachians Halves Collection as this passionate individual is assembling a notable set with many CAC approved examples.

Liberty Seated Half Dollar - Basic Date and Mintmark Set Leader Board

 

Daily Featured Coins

Let's wrap up today's MLK holiday Monday Blog with Grey Soldier Collection offerings. Quality is always paramount with this collector and I cherish each and every consignment that is transferred from this individual.

Grey Soldier Collection Offerings

  

  

  

Thank you for visiting the GFRC website on a quiet Monday morning. Please take the opportunity to visit our community Open Set Registry and become a participant.

Wishing everyone a great day!

 

 

 

January 14, 2018

How About a No Headline Day?

Greetings on MLK weekend and welcome to the Daily Blog.

The risk with starting a new Daily Blog feature or module is the need to continually populate that content. Case in point is the Daily Blog headline that appeared starting with the Janaury 1, 2018 edition. I was confident with ongoing Blog content and surely, a daily headline could be easily maintained. After two weeks, it is time for a No Headline Day. Why?

February 1 is an important deadline for those of us supporting the Liberty Seated Collectors Club's Gobrecht Journal publication. Articles and advertising content must be submitted by February 1 to maintain a timely schedule for publishing issue #131. My Gold CAC Liberty Seated dimes will be featured in the centerfold and it is customary that the owner write an article describing his coins. What started as a short article quickly evolved into a seven hour writing adventure. It seems that every coin in my collection has a story. So why not write a story behind each of the sixteen coins in the centerfold? That made sense but then a context was appropriate to properly frame the individual stories. That thought resulted in a long discussion of my collecting career and how I managed to amass so many gold CAC dimes.

Bottomline? Most of Saturday was spent writing a very lengthy article for the upcoming Gobrecht Journal. A series of short coin descriptions turned into a 7 - 8 page article wrapping up at 8:00 pm. Little GFRC work was accomplished, other than answering phone calls and responding to orders. I was in a mental writing zone and needed to stay entirely focused. By 9:00 pm, mental fatigue set in prompting an early time to bed.

 

GFRC Sales Archive - Initial Popularity?

Google Analytics is a powerful tool for determining website usage. At least once per week, I will step back from the coin grind and study reader behavior concerning the major price lists and of course, the Daily Blog. Now that a host of new links have been released, these are being monitored for early usage and acceptance. Until the February Coin World announcements hits the market, the audience is limited to those who read the Daily Blog or word of mouth communications, so about 500-600 people.

Following is a Google Analytics plot of the Sales Archive link. The initial usage, when requiring a My Account sign-on, was anemic and this prompted the link to be moved to the regular For Sale List page banner. On January 9th, the hit rate quickly moves up and peaked at 45 the following day. At this time, a steady state usage of 25 hits per day appears to be the norm. Yes, this is small amount of usage but stay tuned. Once the word gets out and the Sales Archives continues to grow, usage will increase. My philosophy is always to get a new function out early into the market place and grow the supporting content afterwards.

Initial GFRC Sales Archive Usage

 

During the upcoming week, I'll feature Google Analytics graphs for the CAC Pricing Research and Dynamic Price List applications. In the meantime, more coins must be added to the price lists and then sold to populate the COIN database.

 

More GFRC Price List Additions Today!

Since USPS is closed on Monday for the MLK holiday, that means that today can be entirely focused on loading more offerings to the price list. What would be even better, would be a full day responding to customers orders...... Ok, a balance of both would be acceptable too!

 

Daily Featured Coins

There are over 1500 coins in GFRC inventory and I hope that some might strike your fancy enough to be ordered. There are a host of raw coins for Dansco and Whitman book shelf albums too. How about featuring raw coins for a change? Every GFRC customer is important to me. Whether ordering a $75 coin or a $500 coin, I cherish the opportunity to be your numismatic store and help with hobby enjoyment.

Quality Raw Capped Bust Coins to Consider

  

  

  

 

 

 

January 13, 2018

LSCC Premier Membership Medal Design Process Completed!

Welcome to the Daily Blog as the middle of January 2018 is nearly upon us.

Friday was a lengthy day in the GFRC office and much was accomplished. How I enjoy working in the company of Grace Slick, Janis Joplin, Jerry Garcia and young Robert, John Paul, Jimmy and John that we loved as Lez Zeppelin. The original Herb Greene prints are just another aspect of collecting historical artifacts and, instead of being locked in a bank vault, they can be on full display.

 

LSCC Premier Membership Medal "Sculpts" are Completed

Taking a project from concept, per several 2017 ANA Summer Seminar brainstorming sessions (Gerry, Len Augsburger, John Frost), to reality is certainly rewarding when these "sculpts" arrived from Dan Carr at the Moonlight Mint. Our goal was to accurately capture Jim Macor's artistry for the new LSCC Premier Membership Medal. The Jim Macor, Dan Carr and Jeff Ball team have indeed hit a home run based on the below images. Next phase is cutting dies and generating the first trial strikes along with having prototype Capital Plastic holders fabricated.

Dan Carr (Moonlight Mint) Hits a Home Run!

  

 

GFRC Setting Up At Ft. Myers, Florida Show - January 20, 2018

Yes, that is correct. GFRC will have between 4 - 6 cases at the Ft. Myers, FL coin show next Saturday, January 20. The show promoter called on Frday evening and made me an offer that could not be refused. Dan White and I are looking forward to some fun with setting up at a one day show. We will be featuring a combination of inexpensive inventory plus the really good stuff.....

 

GFRC Customer Question Concerning CAC

From one of the many coin collecting message boards, the following was posted and submitted to me for comment by a GFRC customer.

"The issue with CAC is that they early on developed a reputation for only sticker-ing coins that were premium for the grade. But this was an unintentional result that was further exaggerated by inconsistencies of grading by PCGS and NGC. The only thing that a CAC sticker was ever meant to convey is that they agreed with the assigned grade, not that it was a premium example. I’ve never understood the CAC premium"

Gerry Fortin Response: I'll start my response with expressing the utmost respect for John Albanese and his in depth grading knowledge. John is the ultimate expert for United States gold. John has inspected multi thousand coins in his numismatic career and has an insight that few mortals possess. Consider this fact when discussing CAC on message boards in light of your own grading experience on all United States copper, silver and gold denominations.

CAC resolved a key numismatic hobby issue that was spinning out of control; grade inflation. The TPGs are not benelovent organizations. Rather they are businesses measured on year on year revenue and profit growth. The grading services must devise methods to increase the number of coins graded along with ramping grading fees and other "service" fees. This is why the market is buried in "custom" labels and special "signature" labels for modern coins. In the mid 2000s, the grading services become loose towards increasing volume and something had to be done. I remember Laura Sperber (Legend Numismatics) being one of the most vocal dealers concerning grade inflation and the potential long term impact on the hobby.

John Albanese stepped in and established CAC as a vehicle to identify those coins that were accurately graded and in the top 20% of the distribution at the assigned grade level. The top 20% of the distribution means those coins that are choice for the grade and in some cases, may overlap the distribution of the next higher grade. If the "price guides" provide pricing for a properly graded "average coin" for the grade (50th percentile), then CAC approved coins should trade at a premium since CAC approval coins are superior to the "average coin". For those on message boards without formal statistics training, then please check this "mathisfun.com" link to learn about the Bell curve and standard distributions.

 

GFRC Consignment News

I'm pleased to announce a substantial consignment from a new individual who has decided to divest duplicates via GFRC. Moving forward, this consignor will be known as the Golden Harvest Collection. His first shipment includes some duplicates that have been off the market for years with none being submitted to CAC.

Golden Harvest Collection Consignment

Seated 25c: 1859-S PCGS VF20 original gray, CAC review potential; 1871 PCGS MS61 lustrous in old blue label holder

Seated 50c: 1840 WB-10 Double Date, Small Letters ANACS EF45 OWH; 1856-S ANACS blue label VF20 original even gray; 1858-S NGC AU58 old holder, golden frosty cartwheel luster and nice; 1859-S PCGS AU58 old blue label holder, choice original frosty cartwheel luster; 1859-S ANACS gold label EF40 even gray; 1870 PCGS MS62 freshly graded; 1870 PCGS AU58 original frosty cartwheel luster; 1871 NGC AU58 reflective cartwheel luster; 1871-S ANACS AU58 OWH booming frosty cartwheel luster.

This consignment will be photographed today depending on Venice weather conditions.

 

Can Spot Gold Break the One Year $1346 Level?

During the past month, we've seen gold prices climb from $1245 to Friday's close at $1337. The frequently heard explanation is a weakening U.S. dollar. Gold is now approaching its 1 year high of $1346 and its 2 year high of $1366. What will happen next week? My guess is that some Bitcoin monies are migrating back into physical or paper gold as China and South Korea close down Bitcoin exchanges.

Here is the Kitco one year technical chart.

 

Daily Featured Coins

Let's end today's Blog with a display of quality Capped Bust and Seated coins housed in ANACS Old White Holders. Many collectors appreciate the conservative ANACS standards during this grading timeframe.

Quality Half Dollar Coins in ANACS Old White Holders

  

  

  

 

Wow, it is well before 8:00 am and today's Blog edition is already published. Time for a vigorous health walk follow by writing a supporting article for the display of my Gold CAC Liberty Seated dimes in the upcoming #131 Gobrecht Journal issue. Afterwards, more consigned coins will be reaching the price list.

Thanks for stopping in and checking out these ramblings. Wishing everyone a great weekend.

 

 

 

January 12, 2018

Spot Gold Prices Jump Overnight!

Greetings and welcome to the Blog as we wrap up the second week in January.

I feel so fortunate to not be in Maine this winter. After the excessive cold spell, the weather warms on Friday with rain forecasted. Then central Maine returns to sub freezing temperatures for the entire week, including day time highs. This new cold spell will extend far south to Florida with evenings lows forecasted to be in the 40s. Difficult winters are driving more people to look for shelter in the Sunshine state as construction in Sarasota county is booming.

As today's headline indicates, spot gold prices jumped overnight to $1332. I will touch upon this topic later in the Blog as something is in the air for 2018 and investors should be paying close attention.

 

LSCC 2018 Membership Update

The Liberty Seated Collectors Club 2018 membership drive remains underway with some progress being made. As your president, this year's annual dues renewals process is very important to me. The LSCC is close to breaking through the 700 club member threshold but only if we have a strong response from existing club members and 2018 renewals.

Dale Miller, Secretary/Treasurer, reports the following status. Please note that there are still 150 club members that have not paid their 2018 dues. If all 150 members were to renew, then the club membership would be at 681 effective Friday last week.

Total members: 681
Renewed 2018 or later: 531
Expired 2017: 150

If you are a current LSCC member and have not renewed 2018 dues, please consider taking immediate action today and write a check for $25 to the LSCC and mail to the following address or use Paypal.

Liberty Seated Collectors Club
c/o Dale Miller, Secretary-Treasurer
PO Box 35468
Cleveland OH 44135


Members can also renew online using PayPal on the following destination: LSCCdues@gmail.com.

 

CAC Raises Approval Fees

Yes, an email notice arrived from CAC yesterday stating that, effective February 1, coins valued below $10,000 will be charged $14.50 for approval while those over $10,000 will have a price increase to $29.00. Walk through submission also saw a similar price increase.

Please make a note of this increase as GFRC conducts CAC submissions for customers and passes along the fees.

Effective February 1, GFRC charges for CAC submission will be as follows;

Approved coins below $10,000 - $14.50

Approved coin greater than $10,000 - $29.00

To/from shipping to CAC per coin independent of review outcome - $6.00

 

GFRC Consignment News

I'm pleased to be showcasing the following Grey Soldier Collection consignment that was transferred at the FUN show. There are some great coins in this lot including a very late die state V-6 1840 No Drapery half dime graded PCGS MS64 CAC and an 1843 half dime with the V-Other Shattered Reverse graded PCGS MS63. This is an opportunity to pursue two of the most significant shattered die half dimes in gem and/or choice original condition at one time. The 1850 dime is the F-107b Fortin Plate Coin. Also please pay attention to the 1872 Double Die Reverse example graded PCGS EF40 and perfect for a Top 100 set. Don't ignore an important offering of an 1875-S Seated quarter graded PCGS MS63 CAC. Finally, the Great Britain 1953 Coronation Crown has gorgeous toning and is graded NGC MS65.

Grey Soldier Collection Consignment - January 11, 2018

    

    

 

GFRC Coin World Advertising Campaign

The good people at Coin World are such a pleasure to work with. Their art design department is second to none. On Wednesday, I submitted proposed changes to the current GFRC 1/4 page (monthly magazine) to spotlight the new array of website applications developed by Matt Yamatin. Within a day, the following proof returned and well captured my intentions.

The following ad will appear in the February monthly magazine edition.

New GFRC Coin World Advertisement

February 2018 Monthly Magazine

 

Global Financial News

We open the day with crude oil holding recent gains at $63.43/bbl while spot gold increased to $1332 overnight. Bitcoin rallied again to $14020. What is going with gold prices you might ask? I did a quick scan of financial newsletters to answer that question with two general conclusions for 2018.

- The U.S. Dollar continues to weaken while the Euro is increasing

- All major central banks are shifting from record low interest rates to a tightening cycle; the fear is that inflation is finally on the horizon after years of cheap money being created. As global economies start to ramp, then the velocity of money increases which drives inflation.

Let's look at a few other Seeking Alpha headlines to wrap up this module. We start with Europe and expectations that the ECB will finally stop printing money.

Following months of political uncertainty, the euro jumped to a three-year peak against the dollar overnight after German party leaders reached a breakthrough in talks to form a "grand coalition." The ECB added to the bullishness on Thursday by signaling in minutes from its mid-December meeting that it's planning to slow its stimulus program more quickly than investors had expected. Euro +0.8% to $1.2123.

Brazil bonds are rated as junk by Standard & Poor. It was not long ago that Brazil was an emerging market darling.

Citing the government's failure to pass key fiscal reforms, Standard & Poor's has downgraded Brazil's credit rating deeper into junk territory, to BB-, or three notches below investment grade. It's a slap in the face for the administration of President Michel Temer, which has been touting Brazil's progress in recovering from its worst recession on record.

Here is an example of the absurdity of Bitcoin mining.....

A small town three hours east of Seattle - Wenatchee, Washington - is turning into the epicenter of bitcoin mining in the U.S. The reason? A series of dams on the Columbia River provide abundant hydroelectric power, which costs about $0.02 to $0.03 per kilowatt hour. Miners are seeing strong returns, with some producing 5 to 7 bitcoins per day, but their monthly electricity costs could run into the hundreds of thousands of dollars.

 

Daily Featured Coins

After reading today's Blog, it should be clear to readers that GFRC is focusing on CAC approved coins given the overall quality and robust resale market. GFRC is now experiencing the post FUN show lag in orders and would like to maintain its sales momentum through the balance of January. Let's focus on quality CAC coins that are priced at or below $300 in today's Featured Coins module.

Quality CAC Approved Coins Priced Below $300

  

  

  

So ends another Daily Blog edition as we move into the weekend and more NFL playoff games. Please consider a GFRC coin purchase if you are so inclined. At GFRC, we work diligently towards improving the community hobby experience. Have a great Friday.

 

 

 

January 11, 2018

GFRC Consignments on the Horizon!

Welcome to the Blog on a Thursday morning and thank you for checking in.

 

Kudos to the FUN Staff and Randy Campbell

Winter FUN is one of the best annual coin shows in the United States due to a great management team. The FUN organization, with Randy Campbell as president, is well staffed with dedicated volunteers. Each FUN show is flawlessly executed with attention to large and small details. The ongoing educational presentations, during the show, are important for hobby stability and hopefully, growth. I've continually volunteered to present at FUN as a way of giving back to the hobby and also helping out Randy Campbell and his team.

During the balance of 2018, I'm committed to expanding the Liberty Seated Collector's Club relationship with FUN staff and will begin advertising the GFRC business in FUN Topics. Partnering with a winner makes sense. Look for potentially exciting announcements during the second half of 2018 concerning FUN and the LSCC working together at the upcoming 2019 Winter FUN show in Orlando. It will be great to be back in Orlando to start 2019!

 

GFRC Attention Shifting to New Consignments

Now that Winter FUN is in the history books, attention shifts to loading the last of new purchases and then a wave of new consignments. The balance of January and all of February will be an exciting time for the GFRC community. Existing and new consignors are committing more shipments. The realization that divesting duplicates towards enabling a larger collecting community is growing. Long term collectors, who have not sold off their cherished duplicates, are contacting GFRC and becoming comfortable with letting go of coins stored in bank boxes. Just this morning, a new GFRC friend proposed a $25,000 consignment consisting of quality Seated and Bust coins. These will ship early next week.

New consignors, with substantial holdings, continually ask about having their coins sent to CAC as part of the consignment process. Absolutely! This is an important service provided by GFRC as old time numismatic holdings are prime targets for CAC review and approval. CAC review is the best option for designating coins that are conservatively graded within old generation PCGS and NGC holders. I'm not a fan of the crack out and upgrade game. This process is unpredictable and costly. CAC review is much preferred as a low risk alternative.

At Winter FUN, GFRC took receipt of consignments from the Grey Solder Collection and the Ft. Lauderdale Collection. The planned transfer of New Jersey Collection Liberty Seated halves, New Orleans strikes, is delayed until Whitman Baltimore due to an unforeseen issue. But that is ok since GFRC will be driving from Florida to the March Baltimore show and will be able to transport a larger inventory including absorbing consignments on a broader scale.

Let's review the contents of the Grey Soldier and Ft. Lauderdale Collections that were transferred at FUN. FRoR is recommended if something strikes your fancy.

Grey Soldier Collection

Seated 5c: 1840 No Drapery V-6 PCGS MS64 late die state gem with huge obverse cracks; 1843 PCGS MS63 choice original

Seated 10c: 1850 F-107b NGC MS62 beautiful toning and the Fortin web-book plate coin; 1872 F-105 Double Die Reverse PCGS EF40 and perfectly original for Top 100 set

Seated 25c: 1875-S Briggs 4-D PCGS MS63 CAC choice with creamy luster

Great Britain: 1953 Coronation Crown NGC MS65 with gorgeous pastel aquamarine, rose and gold patina

Ft. Lauderdale Collection

Many of these pieces are at CAC review....

Capped Bust 25c: 1831 Small Letters PCGS MS63 so choice with cartwheel luster under gray patina

Seated 25c: 1877 PCGS AU58 choice original gray

Barber 25c: 1916-D PCGS MS66 with fiery red gold obverse patina

Seated 50c: 1846 Tall Date PCGS EF40 strictly original gray; 1858-O PCGS AU53 light gray; 1861 PCGS AU55 choice original gray

Seated $1: 1847 PCGS EF45 original gray

 

Global Financial News

Looking at commodity prices on a Thursday morning revealed crude oil flat at $64/bbl, spot gold in a very tight trading range at $1319 but Bitcoin down substantially to $13432. Let's check in on Seeking Alpha headlines to determine the Bitcoin situation coupled with regular global financial news.

Bitcoin and other cryptocurrency exchanges will be banned in South Korea. Then Warren Buffet is also going negative on Bitcoin speculation. It does not look good for Bitcoin long term if China and South Korea are closing down exchanges. What will Japan do as exchanges are moving to that country?

South Korea is planning to ban cryptocurrency trading via exchanges, according to Justice Minister Park Sang-ki, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil. It's a major development as the country is one of the biggest markets in the crypto space. The news also follows yesterday's warning from Warren Buffett that speculation in bitcoin, and other cryptocurrencies, "will have a bad ending."

China is reducing its exposure to U.S. Treasury bonds as it manages its foreign reserves.

China is diversifying its foreign exchange reserves in order to safeguard their value, according to the country's currency regulator, while dismissing a Bloomberg report stating the government was halting or reducing its U.S. debt purchases. Chinese officials were said to have recommended the move amid a less attractive market for Treasury bonds and rising U.S.-China trade tensions.

The United States has excess natural gas and is now an exporter. Our country takes another important step towards energy independence.

The U.S. has now become a net exporter of natural gas on an annual basis for the first time since at least 1957. Net exports averaged about 0.4B cubic feet per day last year, flipping from net inflows of 1.8B in 2016, according to Victoria Zaretskaya, an analyst for the Energy Information Administration. The numbers will be officially released by the agency today.

And finally, Intel debuts a "flying car" at the Consumer Electronics Show.

Calling it "essentially a flying car", Intel capped its keynote address at this year's CES by letting an 18-rotor air taxi fly across the stage. That marks the first time the Volocopter VC200, which can cover a distance of 27 kilometers and charges in less than 40 minutes, flew in North America. "What Intel sees in this technology is an enabling of a whole new market," said Jan Stumpf, the chief of architecture for Intel's drone group.

 

Daily Featured Coins

GFRC inventory scope and quality continues to increase with each passing day. This is the fun part of operating a numismatic business as I love handling quality coins. Speaking of quality coins, the Winesteven Collection is well known for offering top quality pieces. Following is a reminder of his offerings for your consideration.

Winesteven Collection Offerings

  

  

  

Once again, thank you for stopping by the Daily Blog and taking in these ramblings. I hope that everyone is playing around with the new GFRC website applications and exploring the Sales Archives. There is considerable information buried in the archives, therefore the new tools should help faciliate quick access.

OK, time for a health walk and then jumping immediately into the shipping department. Wishing every Blog reader a pleasant Thursday and please do consider a GFRC purchase for your hobby.

 

 

January 10, 2018

GFRC CAC Price Research Application is Available!

Greetings again from the Venice GFRC office and welcome to another edition of the Daily Blog.

There is much to discuss in this edition so let's skip the regular preamble and Venice weather report. Rather, let's move directly into important GFRC website application announcements and new purchases. As a head's up, I will announce the latest Grey Soldier and Ft. Lauderdale Collection consignments in Thurday's Blog.

 

CAC Price Research Application is Online!

Matt Yamatin, GFRC's IT Director, has done it again! It gives me great pleasure to announce that the CAC Price Research application is completed and available for the GFRC community and potential new friends. Simplicity and ease of use are hallmarks of Matt's application development. Just click on the Price Research link in the above gray horizontal banner to take a test drive. The following CAC Price Research application screen that will appear. The price research parameters are limited to three items; type, denomination and date. Please make a selection using these parameters and enjoy the immediate outcome.

The next screen capture illustrates Gerry's selection of Liberty Seated for Type, Dime for Denomination and 1837 for Date. Two tables are generated for each search. The first table is an extract, from the Sales Archives, of all CAC coins sold by GFRC since inception. The coins are sorted by grade with Average, Min and Max statistics. A Records column presents the individual CAC approved coins sold and the sale dates. If a selected date has multiple mints used for production, then separate tables for each mint will be displayed.

Below the CAC records table is another great idea by Matt. We knew that users would want to see the individual CAC lot data points. Therefore, a second extraction is made from the Sales Archives that lists all the lots that were captured and summarizes in the top level CAC results table. But there is more! We also include, in the CAC records tables, any current coins that are for sale on GFRC price list. As a result, customers can research CAC pricing results from the Sales Archive and compare to current offering on the GFRC Price Lists. No other dealer, small or large, provides this level of information access to facilitate a purchasing decision. Indeed, GFRC is breaking new ground in the numismatic industry!

Please note that the CAC Pricing Research tool will not separate out individual die varieties. If that level of granularity is desired, then please go directly to the Sales Archive application. All die varieties will be captured at the Date level for the CAC Pricing Research application. So please be aware of this fact when encountering a high priced data point as these will be mostly likely a function of die variety premiums.

The final screen capture illustrates the CAC Pricing Research application search results for Liberty Seated dimes and the 1841 date and the individual listing table. Please note a combination of past sales records and two coins that are current available on the GFRC price list. Those are easily noted by the shopping cart icon in the right most column.

 

GFRC Sales Archive Link Moves to Homepage

To increase usage of the GFRC Sales Archive application, Matt and I decided to move the link to the main GFRC For Sales page. Gone is the need to log into My Account to access the Sales Archive. We hope that the entire community will begin to use this application for researching past sales data. For those with large holdings, purchased from GFRC, records of the sales descriptions and images are just a finger tip away.

Please consider sharing GFRC website application capabilities with friends on Facebook and message boards. I'm too overwhelmed with loading the price lists and selling and packing coins to spend any time on social media. If you enjoy the GFRC website and business model, then please consider sharing throughout your social media networks. I need your help to spread the word concerning GFRC unique business model and the growing GFRC community!

 

GFRC New Offerings

More GFRC eye candy is on the way to the price lists. Now that Auburn Lakes Condo Association meeting workload is behind me, today will bring attention to updating the price lists with lots of great coins. We open the showcase with a magnificent 1843 Liberty Seated quarter graded NGC MS64+ that is CAC approved and from the Eric P. Newman Collection.

1843 NGC MS64+ CAC Seated Quarter - Eric P Newman Collection

A Magnificent Osprey Collection Consignment

 

Next is a showcase of many more superior coins reaching the price list today. How about a gem original 1828 B-4 PCGS AU53 CAC Capped Bust quarter that will be the highlight of any advanced collection. The 1861-O half is Louisiana W-8 die pairing and graded PCGS MS62 CAC. I could go on and on about these coins, so please check the price list later today.

Spectacular FUN Show New Additions

    

    

   

 

Global Financial News

Daily Blog readers should be watching commodity prices to start the day. Crude oil has quickly climbed to nearly $64/bbl while gold is quoting at $1326. Bitcoin is oscillating and currently listed at $14032.

Today's Seeking Alpha headlines are worthy of close attention as sometime is in the air. I'm starting to suspect that 2018 may not be a straightforward cake walk due to the Trump tax cuts. Let's take a close look at the following headlines.

China will eradicate the Bitcoin industry. If China bans Bitcoin, then how can it survive long term? Please consider that thought for a moment.

After shuttering local bitcoin exchanges and banning ICOs, China is moving to eradicate the country's bitcoin mining industry over concerns about excessive electricity consumption and financial risk, FT reports. Another crackdown? The SEC has asked ProShares, as well as Van Eck Associates and First Trust Advisors, to shelve applications for bitcoin-related ETFs, marking a similar rejection issued to the Winklevoss twins last March.

The Federal Reserve has admitted that its 2018 financial policy approach has not factored in the U.S tax overhaul.

The week of Fedspeak continues today following the last minutes from the FOMC, which showed the central bank had not factored in the economic effect of a U.S. tax overhaul on monetary policy forecasts. Fed Presidents Charles Evans and Robert Kaplan will take the podium this morning, while James Bullard will give a presentation on the "U.S. economy and monetary policy" later this afternoon.

A bear bond market is probably at hand after years of too low interest rates throughout the globe. I'm with Bill Gross on this point as bond yields need to raise given improving economic conditions.

Concerns have been emanating from the bond markets as the benchmark 10-year U.S. Treasury dipped further overnight, with yields rising as much as 5 bps to 2.6%. Many well-known investors have warned that this could be signaling a new era for fixed income, with bond guru Bill Gross saying a "bond bear market is finally upon us after more than 25 years." There's also speculation the BOJ could start to withdraw its stimulus after tapering its bond purchases this week.

 

Wrapping Up the Blog

Whew..... Lots of content today so let's end this Blog edition here. Please consider a GFRC purchase as we offer a host of great coins for long term holdings.

I sometimes hear that GFRC coins are too expensive from certain customers. Then please consider this point..... Value coins are easily located on the internet. What is a Value Coin? Value coins are those that would be assigned an Original or Market Acceptable quality rating on the GFRC price list. Sure these are typically found at reduced prices near or under the "Guides". eBay is loaded with value coins. But consider the selling side after holding a value coin. Dealers with offer lower purchase prices when the time comes to sell due to the large number of value coins available on the market.

My philosophy is to purchase the best possible coin for the available monies. I would rather have 10 choice or gem original CAC approved coins than 20 value coins. Pride of ownership will be higher on choice/gem original coins as will the financial return when divestment arrives.

With that thought said, thank you for visiting the Daily Blog and have a great day!

 

 

 

January 9, 2018

Another Cool GFRC Website App Coming Soon!

Greetings and welcome to the Daily Blog on a decent west coast Florida morning. Cloudy conditions and showers are forecasted as the day progresses.

We open today's Blog with a graphic that captures how small business owners feel at times. Since returning from the FUN show, there are a host of tasks to get done in a short period of time. New orders arrive in parallel with catching up with FUN show sales in the COIN system. A CAC submission, coin photography plus new listings, building another COIN World ad for incremental GFRC website apps, an Auburn Lakes Condo Association board meeting and maintaining an exercise program are simultaneously done with balance. These situations are typically referred to as multi tasking and require keen concentration on long term goals. Add in a touch of Chinese Lunar horoscope for guidance on rising and waning fortunes (good/bad luck) to the mix for good measure.

How could I communicate the feeling of a post FUN show week with a single graphic? How about an image of Guanyin, the Goddess of mercy and compassion from the Buddhist temple Plai Laem in Ko Samui, Thailand. The statue is in modern Chinese style with 18 arms and I sure could use all those arms to catch up this week! Grey Soldier, with his infinite humor, just commented that "I am confident the golden vase is there to hold the appropriate amount of scotch."

Multi Tasking Small Business Owner

 

Coming Soon: GFRC CAC Pricing Research App

One of the most common task conducted when buying coins from wholesalers is pricing due diligence using CoinFacts. At GFRC, nearly all buying and selling is based on auction records and not the pricing guides. But for CAC coins, a deeper dive into the CoinFacts records is necessary to find comparable sales. This takes time and is a slow process during a fast paced pre-show buying session. What is a poor boy to do?

What if someone built a CAC only pricing guide based from a database of CAC only sales? Matt Yamatin has done exactly this with the upcoming GFRC CAC Pricing Research app that will be released within the next 10 days. GFRC will soon offer a CAC pricing research extraction based on GFRC sales records. Long term and armed with more sales, this application will transform into a full fledge CAC Pricing Guide for Liberty Seated coinage and other product lines where sufficient records exists.

Stay tuned for more on this topic. Matt and I are currently test driving the app and optimizing the graphical display.

 

GFRC New Purchases

There are many GFRC purchases sitting on my desk, in a double row slab box, that have been photographed and waiting for price list loading. By Wednesday, I will be caught up on post FUN show admin stuff and can shift focus to loading the price list with great new coins. To wet your appetite, following is a FUN show purchase highlight. I'm so proud to offer this stunning 1837 GR-14 Reeded Edge half dollar with superior eye appeal. It resides in old blue label PCGS holder with GOLD CAC approval. Not only is this half undergraded, it offers tons of eye appeal. Already there are two individuals with FRoR on this gem.

Stunning 1837 GR-14 PCGS MS62 Gold CAC RE Half Dollar - $3,500

 

Overlooked and Important Top 100 Variety Offering

Why is this strictly original R6 die variety still on the price list? Since GFRC offers so many coins, there are times when special pieces simply get overlooked by the collecting community. It is my role, therefore, to call these out in the Blog. Case in point is this perfectly original 1887-S F-107 Shattered Reverse Seated dime that is CAC approved. This Top 100 Die Variety offering is important as few choice original have been seen during and after assembling the Seated dime web-book. If considering the construction of a Top 100 set or simply wanting a really cool Seated dime terminal die state, then please consider this F-107 example.

1887-S F-107 Shattered Reverse - PCGS EF45 CAC

 

Global Financial News

Writing this module is a favorite part of the Daily Blog routine as I get to catch up on meaningful news rather than all the tabloid stuff that has overtaken the major online media.

Commodity prices are pretty much flat to yesterday. Crude oil is at $62/bbl with spot gold down slightly to $1316/oz and Bitcoin back to under $15,000 at $14785. There are a decent number of worthwhile Seeking Alpha headlines so let's jump in....

More good news for the yellow precious metal as Goldman Sachs is forecasting additional U.S. Dollar weakness in 2018.

Goldman Sachs believes the dollar is set for another "soggy" year despite a hawkish Fed that could hike interest rates up to four times in the next twelve months. We are now in a "fairly synchronized global upswing," according to the firm, where other central banks are also looking to push benchmark rates higher, diminishing the appeal of higher-yielding assets in the U.S.

China is supposedly removing currency "volatiity controls" for the Yuan. As expected, the Yuan weakened on the news. Countries with large export focused manufacturing sectors desires a weak currency....especially if the U.S. dollar is moving lower.

China's central bank has made a change to the regime used to manage the yuan, removing the volatility-reducing "counter-cyclical factor" it introduced last year, sources told Bloomberg. The move will increase the role of markets in setting the daily fix for the yuan, which headed for its biggest drop in two months on the news.

Energy secretary, Rick Perry, has lost a bid for more coal and nuclear power plants. Clean technologies are the clear winners.

Federal energy regulators have killed Rick Perry's power grid proposal, which would have subsidized some coal and nuclear power plants. According to the FERC, the plan failed to show that current electricity markets are not just or reasonable, or may be a threat to grid resilience. The rejection is a major victory for natural gas, wind, solar and other clean industries.

Alexa will soon be inescapable in daily life as Amazon is targeting the automobile market.

Alexa gets behind the wheel... Amazon has introduced Alexa Onboard technology, which lets users access the voice assistant through their car's infotainment system. That means drivers or passengers can play music, ask for directions or get other information simply by speaking aloud.

 

Daily Featured Coins

Several customers, at the FUN show, commented that GFRC is making notable progress with its Draped and Capped Bust quarter inventory growth. Locating problem free and strictly original Bust quarters is very challenging. I'm committed to this product line and will continue to find the best possible candidates for your hard earned monies. Here are six pieces to consider on a Tuesday morning.

  

  

  

Wow, 8:15 am ET has arrived and the Blog is published! Time for a quick health walk followed by the last day of post FUN show shipping and administrative recovery.

Thank you for checking in and hopefully, there will be new purchases featured in tomorrow's Blog. Have a great day.

 

 

 

January 8, 2018

FUN Show New Purchase Eye Candy Arrives!

Greetings on a quiet Monday morning and welcome to the Daily Blog.

As the Blog is written, Venice temperature is a warm 55F and will peak in the low to mid 70s. The next few days will bring rainy conditions which is just fine by me. I'm up to date on coin photography therefore several days of rain will keep me indoors and focused on catching up the price list with FUN show new purchases and incremental consignments.

Today's goals are two fold. First is catching up on shipping online orders during the FUN show and second is surviving a long Auburn Lakes Condo Assoc. board meeting. Given my fast paced life, sitting in a board meeting discussing the color and shape of No Swimming signs or Association border wall painting can be painful. Most boards members are long retired and have ample time to reflect upon these items and form strong opinions. I would rather be processing and selling coins therefore my days of board work are probably numbered as GFRC sales volumes grows.

 

FUN Show New Purchases

We open the Blog with a truly outstanding offering; a stunning 1853 Liberty Seated dollar graded PCGS MS64 and approved by CAC. GFRC purchased this piece on the first day of the FUN show and immediately placed it in our well known display tray. Many dealers came by to inspect with one dealer wanting the coin on memo for a potential customer. I declined as owning this Seated dollar for a short timeframe is as important as are the potential sales profit.

Grading mint state Liberty Seated dollars is different than that of smaller denominations. Size and weigh must be considered as uncirculated pieces will been prone to surfaces marks no different than Morgan dollars. The large field areas to the right of Liberty and above the reverse eagle are susceptible to contact immediately after being struck and stored. Contrast that with light weight half dimes or dimes that have little mass with higher probability of perfect fields.

Recent PCGS grade inflation has been evident in the Liberty Seated dollar series. Auction previews, during the past several years, revealed some better date MS64 certified examples with field hairlines and toning colors that had me questioning current day grading standards. This 1853 specimen, resides in 2000-2001 generation PCGS holder and is fresh to the market from a complete collection that was recently broken up. CAC approval validates what Dan and I immediately saw when making a purchase decision; a super original piece with tons of eye appeal and old time lustrous surfaces. This 1853 dollar is consistent with the "look" and eye appeal of the Seated dimes in my date and mintmark set. Surfaces are completely unmolested and radiate serious cartwheel luster.

If you've been searching for a special Seated dollar for a high grade mint state type set, then please consider this GFRC offering. I'm absolutely thrilled to have this example in inventory.

Amazing 1853 PCGS MS64 CAC Liberty Seated Dollar - $15,000

 

We continue this morning's eye candy display by moving to the opposite end of the type coin spectrum; two gorgeous Capped Bust half dimes. I'm in love with the 1831 LM-6 example that is also fresh to market and recently graded without CAC review. The colors and eye appeal scream JUST BUY ME NOW. Next to the 1831 half dime is a sophisticatedly beautiful 1832 example graded NGC MS65. The strike is so crisp with every minute hair curl detail being captured. Toning is most attractive also.

Stunning Capped Bust Half Dimes

1831 LM-6 PCGS MS63 - $915                                    1832 LM-3 NGC MS65 - $1975

  

 

This next eclectic lot is already on the price list. The common thread is strict originality and above average eye appeal. Yes, that is an 1849-O half dime graded PCGS AU53 with CAC approval intermixed in the group.

FUN Show New Purchases

Consistent GFRC Quality

    

    

 

We end this morning's eye candy display with four pieces that were sold without images during the FUN show. Customers trusted my verbal descriptions sent via email and decided to purchase. I believe these customers will be pleased with their purchases. The 1868-S half dime, graded PCGS MS63 CAC, offers luster than is consistent with a higher grade and no marks. The 1853/4 PCGS EF40 CAC quarter has a bold undertype and of the nicest examples I've seen since operating GFRC. Then there is a lovely 1839 No Drapery half with classic old album toning grading PCGS EF45 CAC.

Images was done on Sunday for the Sales Archives followed by these pieces shipping to customers today.

Already Sold - GFRC Sales Archives Records

  

  

 

Global Financial News

Let's open the Global Financial News segement with a look at commodity prices. Crude oil is now priced at $62/bbl and I'm surprised that is has not gone higher with the massive stretch of cool weather in the United States. Spot gold continues to inch up and is quoting at $1321. Bitcoin continues its wide ranging fluctuations and opens the day at $15471.

Seeking Alpha headlines capture France's attempt to becoming a most favored trading partner with the Chinese. The Airbus A380 double level super jet is in trouble and now the French are shopping an "industrial partnership" for A380 orders. Be careful here...."industrial partnership" is a synonym for technology transfer that could have long term implications for Boeing and Airbus.

China and Europe should work together on Beijing's "Belt and Road" initiative, according to French President Emmanuel Macron. "The ancient Silk Roads were never only Chinese... If they are roads, they cannot be one-way." Unveiled in 2013, the "Belt and Road" project is aimed at connecting China by land and sea to Southeast Asia, Pakistan and Central Asia, and beyond to the Middle East, Europe and Africa.

With the aircraft's future in doubt, Airbus is offering an industrial partnership with China on the A380 if local airlines place orders for the world's largest passenger jet. Airbus COO Fabrice Bregier will hold early stage discussions on the matter today as part of a trade mission accompanying French President Emmanuel Macron on his first state visit to the country.

Back in 2016, financial newsletter writers were warning of an impending Chinese foreign reserve crisis during the 2017-2018 timeframe. These writers were flat out wrong. During 2017, the PBOC and Beijing government implemented capital controls and increased the yuan value. As a result, foreign reserves increased and now stand at $3.14 Trillion USD to close 2017. China has well managed this situation.

China's forex reserves posted an eleventh straight monthly increase in December, capping a year of recovery amid tighter capital controls, a stronger yuan and resilient economic growth. The reserves climbed $20.7B to $3.14T, according to the PBOC, bringing the full-year increase of the world's largest foreign-currency stockpile to $129B.

Back in the United States, credit card debt is quickly rising and could bring another crisis during the next recession (if one ever occurs again!) Total United States credit card debt will top $1 trillion during 2018. I'm so pleased to report that my personal credit card debt is zero!

Before the holiday season even started, U.S. credit card debt stood at $808B on Sept. 30, or the end of Q3, according to figures from the Federal Reserve Bank of New York. That's $280B more than the previous peak hit in 2008, at the height of the financial crisis that led to the Great Recession. "The scary number - $1 trillion - we'll definitely hit in 2018," said Jill Gonzalez, an analyst with WalletHub.

 

Daily Featured Coins

With the FUN show in the history books, GFRC now pivots to online business for achieving its January 2018 revenue forecast. There are a host of great coins remaining in inventory. Here are just a few to consider.

  

  

  

So ends another Daily Blog edition. Thank you for being loyal readers.

Please check back this evening for more preview images followed by the announcement of Grey Soldier's FUN show consignment on Tuesday.

Wishing everyone a great numismatic day.

 

 

January 7, 2018

FUN Show Day 4: GFRC Wraps Up Record FUN Show

Welcome to the Daily Blog on a quiet Sunday morning and thank you for visiting.

Today's Blog edition is published late due to sleeping over 11 hours and gathering much need rest after a record setting FUN show. A sincere thank you and call out goes to Dan White for his unselfish support throughout the busy five day event. From the Tuesday pre-show to booth closing on Saturday afternoon, Dan was relentless in working with booth setup, hosting GFRC customers and walking the bourse floor towards hunting down potential CAC approved new purchases. Diane was also an integral team member handling many behind the scenes duties including financial administration and making a nightly run to Publix for our delicious pre-made lunch salads. The small hobby business, started in 2013, has grown into a major numismatic business thanks to the support of many individuals. Let's not forget Matt Yamatin for his incredible COIN database and website applications too!

 

FUN Show Day 4 and Overall Summary

Saturday was yet another busy day at the GFRC table during morning hours. The team was active while I was mentally preparing for 1:00 pm FUN Show presentation entitled The Underrated Liberty Seated Quarter Series. That presentation was well attended and overall show exhaustion set in after returning to the table. By 3:30 pm, a decision was made to close down and be back to Venice and Osprey for normal dinner time. After some great Chinese take out and a scotch, I hit the sack at 8:00 pm and recovered loss sleep from the past week.

FUN show sales reached the mid five figures as an accumulation of many individual sales. Collectors were out in force and looking for special type coins or upgrading date and mintmark sets. GFRC's knowledgeable staff spent considerable times with individual collectors answering questions and ensuring customers were satisfied with their purchases. My philosophy is that any new customer purchase is an opportunity for repeat business and ensuring satisfaction is paramount. Most importantly, GFRC sales were nearly all direct customer retail and not wholesale to other dealers. Selling retail is a challenging market segment and many dealers operate with a combination wholesale and retail model to meet profitability goals.

Since spending so much time behind the GFRC tables and at the LSCC regional meeting plus FUN show presentation, there was little opportunity to to walk the floor in search of new inventory. Dan did his best to comb the bourse floor for quality coins consistent with GFRC inventorial goals and did score several outstanding coins that will be featured in Monday and Tuesday blogs.

 

GFRC Receives First $250,000+ Consignment Commitment

I'm incredibly pleased to report that GFRC has been selected to handle a major Draped, Capped Bust and Liberty Seated consignment that is valued above well above $250,000. Consignment details and transfer plans will be worked out during the next 30 days with announcement in February. Another substantial consignment commitment was verbally extended at the FUN show and I'm waiting for the individual to make the final decision on contents.

Please continue to follow the Daily Blog for details on all consignments, whether valued at several thousand dollars or substantial events. GFRC service consistency is paramount to both customers and consignors as I want every single individual, that deals with GFRC, to have a favorable outcome and share his experience with other numismatic friends. Excellent service is the best form of advertising.....

 

FUN Show - LSCC Regional Meeting Group Photo

A thank you goes out to John Frost for passing along the FUN Show's LSCC regional meeting group photo as featured next. Talk about a happy group of club members!

 

Daily Featured Coins

As you can imagine, I have a long day of repositioning GFRC inventory, updating the COIN database with FUN show sales and photographing new purchases and consigned coins that arrived at the show. But first, a 3 mile health walk is in order to start the day and return to a regular routine.

Let's close today's edition with some great coins that are still available as not every coin sold at the FUN show. Each coin is a unique historical artifact and it takes an interested person to bring about an acquistion.

  

  

  

So ends today's Blog and my apology for the delayed publishing time. Venice outdoor temperature is in the mid 40s and I'm looking forward to a brisk health walk to start the day.

Please check back tomorrow as I hope to have new purchase images up on the price list and within the Blog. Have a great Sunday!

 

 

 

January 6, 2018

FUN Show Day 3: Friday Brings Non Stop GFRC Sales!

Greetings on a Saturday morning and welcome to the Daily Blog. Once again, this Blog edition is being written on Friday evening due to early morning Saturday commute to Tampa.

FUN Show Day 3 Report

When leaving the FUN show on Friday evening, I asked Dan and Diane what the Daily Blog headline should be? The response was that, "the GFRC staff was exhausted after non stop sales day!"

Yes, Friday was one of those memorable sales days that every coin dealer dreams of enjoying. Before we discuss GFRC sales, let stop for a moment to recap the Liberty Seated Collectors Club meeting that took place at 9:00 am. Attendance was outstanding with about 30 people at the meeting. I believe attendance would have been even higher considering the bad Northeast weather and airport shutdowns on late Thursday into Friday. LSCC members arrived early for social time and the meeting was called to order at 9:04 am. The group photo will be presented in the February E-Gobrecht and most likely in the Daily Blog next week. Attendees introduced themselves including myself who commented that I was once again working on my Liberty Seated dime date and mintmark set (please pay attention here). Our fast pace agenda covered many topics including Premier LSCC Membership Medal program and the release of the Liberty Seated Dollar die varieties book by Dick Osburn and Brian Cushing. The meeting highlight was an insightful presentation by Stephen Petty on United States economic conditions during the mid 1800s with particular emphasis on the Civil War timeframe.

After the meeting concluded, Tom Bender (#1 Liberty Seated Dime set on PCGS and GFRC Registry), Dan White and I are walking back to the bourse floor. Tom Bender says with an absolutely straight face that, "Gerry, I will need to kill you in order to buy the San Francisco Seated dimes from your estate." I could not help but to burst out laughing given Tom's humor. On another occasion via email, Tom mentioned that, "he coverted my S-Mint Seated dimes" and hoped I would sell that portion of my set to him. Now that I've decided to continue upgrading my Seated dime set, rather than selling, Tom is heartbroken......

Ok, back to GFRC and the Friday sales report.

Within minutes of the bourse floor Friday opening, GFRC had its first sale of the day: a 1911-D PCGS AU58 Indian $10 eagle for $6500. Being superstituous, I knew immediately that Friday was going to be a gang buster sales day after the 1911-D transaction. Indeed it was. Dan and Diane worked non stop from 11:00 until 5:00pm hosting many customers and writing sales receipts. GFRC sold United States gold during the morning hours and then silver type sales kicked in throughout the afternoon. Four figure coin sales were the norm with all Liberty Seated denominations (except half dimes) being hot. We sold many Seated halves and quarters and even Seated dollars for a change. Barber coins were also in demand along with Morgans and Seated double dimes. Collectors were walking up to the GRFC table in a serious buying mood and the broad based inventory allowed many want list items to be filled.

By 5:45 pm, the GFRC staff (Dan, Diane and Gerry) were exhausted and decided to quickly close the booth and head back to Venice by 6:00 pm. Friday had been an outstanding sales day and getting home for a reasonable dinner hour was a priority.

 

Newtown Completes Liberty Seated Half Dollar Set with 1878-S Purchase!

Congratulations go out to the Newtown Collection, on the GFRC Open Set Registry, upon completing his Liberty Seated half dollar set. Newtown purchased the PCGS EF40 example at the Heritage FUN show auction and immediately updated his online Open Registry set. Sales price was $63,000.

 

GFRC Consignment News

I am pleased to announce that a host of consignments have already been taken in or are due to arrive in the next ten days. It is too late on Friday evening to start itemizing the individual consignments. Let's just say that the GFRC consignment backlog will be substantial through the balance of January with many more great coins reaching the price list.

 

GFRC Meets with Brenda Wyen for New COIN World Advertising Campaign

Communicating Matt Yamatin's new GFRC website applications to the numismatic hobby will be a priority during first quarter 2018. To that end, I met with COIN World's Brenda Wyen to discuss a wide ranging paper magazine and e-newsletter advertising campaign. My goal is to attract many more potential customer to the GFRC website during the upcoming six months. There has been much positive feedback on the Sales Archive and the Dynamic Price List applications and time to get the word out across the industry.

 

Wrapping Up the Blog

It is already 10:00 pm and time to add the final edits to the Liberty Seated quarter dollar presentation that I will give on Satuday 1:00 pm at the FUN show. So let's end the Blog here for today.

Many thanks for visiting and reading each day's FUN Show reports. Please check back on Sunday morning for the FUN Show Day 4 Report.

 

 

 

January 5, 2018

FUN Show Day 2: Show Retail Off to Strong Start!

Welcome to the Daily Blog on a Friday morning. This edition has been written on Thursday evening due to 7:00 am Friday morning commute from Venice to Tampa. I'm rather tired after a long day on the bourse and late dinner. Therefore this FUN Show report will be brief.

FUN Show Day 2 Report

It is great to be back in Tampa for the annual winter FUN show. Thursday brought the 10:00 am opening ceremony followed by a reasonable crowd and healthy "bourse floor buzz" until 4:00pm. There were some worries that show attendance might be subdued due to the United States east coast "bomb cyclone" and canceled flights throughout the mid Atlantic and New England corridor. Those worries were unfounded as the FUN bourse was active with many collectors searching out better dates and type coins in all Bust, Seated and 20th century denominations.

GFRC enjoyed a busy but not hectic first show day. Our focused shifted to retail sales given the number of coins purchased on Tuesday and Wednesday and we were not disappointed. By 10:30am, multiple customers were converging at Table 1232 with Dan, myself and Diane doing our best to show coins and quickly quote prices. Subsequent customer arrivals were hot and cold. Sometimes there were 4-5 customers at the booth requiring attention while other quieter times allowed for one on one discussion with clients concerning originality and grading. In between hosting customers, the COIN database was updated with pre-show purchases. I managed to get half of the new purchases on the website throughout the day. When I finally checked the time and saw 4:30 pm, realization set in that FUN Show Day 1 has been a strong sales day at the GFRC table.

Another Thursday highlight was the purchase of Dick Graham's book on Reeded Edge Half Dollar die varieties. Dick stopped by at the GFRC table towards end of day and kindly enscribed my copy. I should also mention that the new Liberty Seated Dollar die variety book, by Dick Osburn and Brian Cushing, was released at the FUN show. The book can be purchased either hardbound and spiral bindings.

 

What Did GFRC sell at FUN?

It was refreshing to enjoy sales across all major product lines including gold coins. Seated inventory continued to be the primary target for many customers and we sold a substantial number of coins. Dimes was at the top of the sales list follow by Seated halves. I was surprised at the amount of early copper coins that found new buyers. We even sold a fair number of United States gold pieces.

Therefore the FUN show is off to a great start, and I'm looking forward to the Friday session.

At this point, I'm fairly exhausted and time to go to bed for some much needed rest. Friday brings the same schedule as Thurday. Commuting and arriving by 8:15 pm and being ready for the bourse open at 8:30 am. We open the table followed by Gerry heading to Room 13 for the LSCC Regional meeting.

 

Reminder: LSCC Regional Meeting held Friday Morning at 9:00am in Room 13.

Just a quickly reminder that the LSCC FUN regional meeting will be held promptly at 9:00am in Room 13. Please try to arrive early for a short social session before the regular meeting. Following is a screen capture of the meeting agenda.

 

Wrapping Up the Blog

OK, it has been a long day and time for bed! Thank you for checking daily to secure factual FUN Show reports.

So far, so good at the GFRC table with a strong first retail sales day along with more consignments being committed at the show and via email. January 2018 brings many more cool consignments to consider.

Have a great day and good luck to readers in New England with the high winds and freezing temperatures.

 

 

 

January 4, 2018

FUN Show Day 1: GFRC Has Outstanding New Purchases Day!

Greetings once again and welcome to the GFRC Daily Blog and FUN Show Day 1 Report.

Blog readers well know that I'm superstituous and believe that karma is a quiet but powerful factor in our lives. Tuesday brought a disappointing FUN pre-show day and I hoped that Wednesday might bring about balance and good fortune. In yesterday's Blog, I was straight about the current issues facing the numismatic hobby. Few dealers have the time or desire to speak honestly about these issues but at GFRC, I'm on a mission to provide collector education and also protect my clients from ill advised purchasing decisions.

FUN Show Day 1 Report

I'm so pleased to report that Wednesday brought about good fortune and a host of top quality new purchases. It was a day of walk up coin offers at the GFRC table or being flagged by dealer friends on the bourse that might have a coin that was perfect for GFRC customers. Attending the Denver Coin Expo during 2015-2016, and building relationships with United States western region dealers resulted in some awesome offerings today. Also key was a pre-arranged meeting with my favorite wholesale dealer. This individual is becoming a key link in the supply chain. As GFRC continues to grow, so do the primary suppliers. After spending well in the five figures with this person, he bought lunch for Dan and me; a wonderful gesture.

Following is a complete itemization of GFRC Day 1 new purchases with 15 of 18 being CAC approved. None of these purchases were rushed. Rather, each purchased coin was consistent with the high quality standards that GFRC is known for. Please review this list carefully as I'm planning to place the entire group into the FUN show cases by tomorrow morning.

Capped Bust 5c: 1831 PCGS MS63 gem original with gorgeous blue-rose radial toning and frosty cartwheel luster; 1834 PCGS MS64 gem original, lightly mirrored obverse fields and transparent gold and aquamarine patina.

Seated 5c: 1839 PCGS MS63 choice original, fully struck with bullseye rose, blue reverse toning; 1849-O PCGS AU53 CAC rare date/grade with light silver gray patina; 1854 PCGS EF45 CAC choice original, fully struck with conservative grading.

Capped Bust 10c: 1832 PCGS AU50 CAC hammered strike with light gold patina, fully choice

Seated 10c: 1837 PCGS VF35 CAC Large Date, strictly original and even gray; 1837 PCGS VF25 CAC Small Date, strictly original and even gray...a twin to the VF35 example; 1839 PCGS MS63 CAC gorgeous frosty luster with old album toning and claims to a higher grade; 1859 PCGS MS64 CAC bold frosty white with hammered strike

Capped Bust 25c: 1821 PCGS F15 CAC B-4 choice and perfect for grade with classic circulated cameo appearance; 1828 PCGS AU53 CAC B-4 R3 near gem original, the only AU53 example with CAC approval and only a handful better.

Seated 25c: 1853/4 PCGS EF40 CAC classic gun metal gray and choice original, overdate is crisply struck and well defined; 1858-O PCGS EF40 CAC even gun metal gray, accurately graded

Reeded Edge 50c: 1837 PCGS MS62 GOLD CAC GR-14 the nicest Reeded Edge half even handled by GFRC

Seated 50c: 1839 No Drapery PCGS EF45 CAC gorgeous old album toning; 1856-O PCGS MS64 CAC bold satiny cartwheel luster and light gold patina

Seated $1: Are you ready? 1853 PCGS MS64 CAC housed in 2000 generation PCGS holder. Frosty cartwheel luster with faint golden surfaces. Gem original with superior eye appeal.

Otherwise, it was a typical show setup day. Dan and I carefully loaded 12 double row boxes of coins into 8 cases and the booth is ready for Thursday morning's opening at 8:30 am to dealers and early birds. With all the new purchases, the emphasis now shifts to retailing selling and find new homes for new purchases and existing inventory.

 

GFRC Consignment News

The only negative news of the day is that the New Jersey Collection's New Orleans minted Liberty Seated halves will no be transferred as previously announced. Due to an east coast traveling and packing issue, the New Orleans mint halves remain in New Jersey and will be transferred at the March Baltimore show.

Secondly, Grey Soldier Collection stopped by to the GFRC booth after setup and offered another six piece consignment. These offerings will be listed in Thursday's Blog.

 

Wraping Up the Daily Blog with Featured Coins.

If readers are unable to attend the FUN Show, then the following Featured Coins section represents those pieces placed inside the traditional display frame within one of the FUN show cases. Enjoy!

 

  

  

  

 

 

 

January 3, 2018

A Dearth of Quality Bust/Seated Coins at FUN Pre-Show

Greetings and welcome to the Daily Blog on another cold Florida morning.

Today's Blog edition will be brief as I'm still in the final stages of preparing for the FUN show setup today and have an morning appointment with an important wholesaler. Commuting each day from Venice to Tampa adds another 2+ hours of driving time to an already busy show schedule.

Current Tampa temperature is 43F with light rain throughout the morning. Last evening's weather forecast had an freezing rain and potential snow warning for Florida northward of Orlando. Hope Mickey Mouse has his thermal underwear....

 

A Dearth of Quality Bust/Seated Coins at FUN Pre-Show

Tuesday's main event was taking in the FUN pre-show at nearby Marriot Seaside hotel. Dan White and I arrived to the Marriot a bit before 11:00 am with participating dealers arrived from Tampa airport after early morning flights. The usual major dealers and wholesalers were in attendance. We immediately went to work reviewing a host of double row slabbed boxes searching for the strictly original collector coins that were competitively priced and were consistent with GFRC's customer base. As the headline reads, we walked away mostly disappointed for the time taken to drive/to Tampa and the five hours of reviewing more than a thousand coins. When the adventure was over, we had purchased a total of nine coins with one being an order from China customer. The remaining eight coins are loaded on the price list, as of this morning, and will be in the FUN show cases.

Following are general comments of what we saw during those five hours.

- There is a dearth of strictly original silver type in the AU to low mint state grades (MS65). Please note the combination of two key points in that statement; "strictly original" and "AU to MS65" collector grades.

- Let's start with "strictly original" as the market is suffering from grade inflation and the holdering of doctored coins. I shook my head on multiple occasions when seeing PCGS holdered Seated coins graded MS65 with obvious hairlines. Stripping and retoning surfaces is another significant issue that collectors should be aware of, especially those that buy coins at auction based on online images. We noted too many mint state silver type coins that simply looked wrong due to perfect color uniformity and probably the work of a chemist. Other types of problems included obvious cleaned coins being holdered and those with scratches.

- Silver type coins, in AU to MS64 grades, were a tiny fraction of the available wholesale market on Tuesday. Yes, there are many MS66-MS67 business strikes and proof counterparts to consider along with a smattering of common dates type and not much else.

- When Dan and I did manage to locate a quality coin, that met our strict criteria, we had to often walk away due to asking prices being at full CoinFacts retail. Today's collectors use CoinFacts records as the baseline for numismatic purchases and if a dealer prices coins above the records, to make a fair profit, these coins will sit in inventory. Dan and I have learned to not purchase coins without enough "margin" to tie up our capital.

As you can see from the Tuesday evening price listings, we bought just a few coins but those are indeed top quality and fairly priced. All I can say is that GFRC provides an important service to its clientelle given the amount of not "strictly original" coins that we saw on Tuesday. Today, TPG grading is not a guarantee of originality but rather, validation that the coin is a mint issued product. As I have said on many occassions, the best early type coins are in collector hands and not in dealer inventories. Just watching the GFRC price list when a major consignor sells coins should validate this statement. Strictly original coins quickly move between collectors at a rapid pace.

One final comment....

The CAC subject came up often in discussions when viewing coins on Tuesday. Most dealers are frustrated with how tight CAC approval requirements are. I purchased several wonderful coins (1832 NGC MS65 half dime and 1831 O-105 PCGS MS62 capped bust half) that had been to CAC and not approved. In both cases, the coins were studied carefully for why the coins were not approved without a conclusion. CAC standards appear to be tightening as all freshly holdered coins are submitted to the Far Hills, NJ office of John Albanese.

On many occasions, GFRC customers will ask, "will this coin be CAC approved" or "has this coin gone to CAC?" All I can say is that CAC screens out the inferior coins and errs on the side of conservatism. Using an expert dealer who views many 1000s of coins per year, to aid with purchases, is paramount in todays's market.

So ends today's Blog as I must take a shower, finish packing inventory luggage and prepare for today's drive to Tampa. At GFRC, we work hard and are very committed to the customers we serve.

Please check back tomorrow morning for a review of other potential new purchases and general comments concerning FUN show dealer setup day.

 

 

January 2, 2018

Tampa FUN Show and Cold Weather Has Arrived!

Greetings and welcome to the GFRC Blog on a cold Florida morning.

Yes, the current Tampa temperature is only 39F with a cold week in store for FUN show attendees. Daily time high temperatures will reach the mid 50s while overnight temperatures will stay slightly above freeezing. Back in Maine, a blizzard is forecasted for the end of week including high winds and a foot of snow.

Bringing the focus back to GFRC preparations for the FUN show, Sunday was a long day in the Venice office with shipment preparations. I'm pleased to report that all paid orders (and ship aheads to well known customers) are moving into the USPS system this morning. FUN show pickup orders were also kitted and invoiced. Dan White visited during the afternoon with his drill and we successfully liberated the 1927 $20 Saint from its Capital Plastic holder. The most recent Oregon Beaver and Seal Beach Collection Seated half dollar consignments found their way to the price list also. Finally, I spent the evening hours formatting a raw Seated dime lot from the Massachusetts Collection and those also reached the price list before heading to bed.

 

Tuesday FUN Pre-Show Activities

Large United States coin shows typically have an associated pre-show event 1-2 days before the show opens to the public. The pre-show is an opportunity for attending dealers to meet at a local hotel and conduct wholesale trading. Inventory management is a key issue for dealers and the pre-show brings the opportunity to adjust inventories, work on want lists and reposition coins that have been on price lists for much too long. Trading is done is a relaxed environment with dealers being able to discuss the current state of the market. Contrast this approach with attempting to examine double row boxes of wholesale coins, during regular bourse floor hours, while customers are at the table.

GFRC has grown substantially during the 2016-2017 timeframe and attending pre-shows is a new requirement for accessing the best possible inventory items. Dan White and I will be in Tampa for most of the day and let's hope the time is well spent. We also plan to take in the Heritage auction lot preview and become active in that market sector also.

 

GFRC Inventory at Tampa FUN

GFRC will have at least 8 cases of quality Bust, Liberty Seated and United States gold coins available starting Wednesday afternoon. But that is not all.... Recent consignments and new purchases also bring a growing amount of early copper, Barber coinage and toner Morgans that will be on display. Offerings from all major GFRC consignors will be available for purchase including Osprey, Seal Beach, Winesteven, Saw Mill Run, Newtown, Upstate New York, New Jersey, Port Matilda, Watch Hill and Indiana to name just a few!

 

GFRC is also Buying at FUN

GFRC cash reserves grew during 2017 and I'm well positioned to buy coins directly from collectors who may wish to immediately liquidate a portion of their holdings. Consignments are still preferred for those who have longer term horizons and wish to take advantage of low commission sales. But if a customer needs to raise immediate cash, then please come to Tables 1133/1232 to offer what might be for sale. Please have an asking price for your coins ready to simplify the sale process. I tend to frown on individuals who walk around the bourse requesting bids from dealers for their coins. This approach consumes too much of my time to examine, research prices and then make an offer only to have the potential client walk away for more offers. If you are serious about selling, then do your homework and arrive with a fair asking price. You will find dealers more welcoming and willing to inspect your coins once they now the purchase price expectations.

 

GFRC Consignment News

The substantial consignment news, from Tampa FUN, will be the Part 2 transfer of the New Jersey Collection Liberty Seated halves. This transfer will include the residual San Francisco minted dates along with the New Orleans struck pieces. The rare 1855-S NGC AU58 CAC specimen, remaining from the Whitman Baltimore show transfer, will be on display and ready to locate a new home. Other consignments have been verbally committed. Please check the FUN show blogs to discover what may have arrived in terms of new consignments.

As if perfectly timed to quickly absorb FUN show consignments, the GFRC consignment queue is nearly empty. Remaining is a lower priced 20th century lot from the Gansu Collection and a few Seated dime varieties from the AuburnNY Accordian Collection. That is it! As mentioned earlier, a Seated dime lot from the Massachusetts Collection was processed and loaded last evening. Following in a client gallery illustrating the new price list additions.

Massachusetts Collection Consignment - January 2, 2018

Low Priced Liberty Seated Dime Duplicates

    

    

    

 

 

Global Financial News

Commodity prices are on the move at the start of 2018 trading. Crude oil is now solidly over $60 while gold had jumped to $1313. Bitcoin has been quiet for a few trading session at $13546. My expectation is that gold prices will continue to move up in the first quarter of 2018. One factor is the increasing price of crude oil. Historically, crude oil and gold prices have moved together. Higher crude oil prices bring inflationary pressure to large economies along with raising the costs of gold bullish start to 2018," the U.S.-based Schork Report said in a note to clients. Iran is the third-largest producer in OPEC, which agreed last year to extend its oil output cuts through Dec. 31, 2018.

Every time that the United States sanctions a country via exclusion from the SWIFT US dollar trading system, the more we push our adversaries towards an alternative system for conducting global transactions. Russia is now considering a "cryptoruble".

Russia is exploring ways to create a "cryptoruble" that could help it circumvent Western sanctions. "This instrument suits us very well... We can settle accounts with our counterparties all over the world," said Sergei Glazev, an economic adviser to Vladimir Putin. It would be "the same ruble, but its circulation would be restricted in a certain way," allowing the Kremlin to track its every move.

This headline worries me to no end as science fiction will soon be reality. Killer drones released from aircrafts are a scary thought.

The Gremlins are coming! After eliminating Lockheed Martin and Kratos from its program to develop a "flying aircraft carrier," DARPA is narrowing in on the prototypes of privately held Dynetics and General Atomics. Phase 3 will decide on a contractor to build swarms of killer drones - launched from a transport aircraft - in 2019. The drones would have a lifetime of around 20 uses and reach targets of as much as 300 miles away.

 

Daily Featured Coins

Throughout December, Liberty Seated halves have been on fire and the most popular GFRC product lines. During Q4 2017, GFRC sold over 100 Seated halves and the trend continues during the first two days of 2018. Ignored but not forgotten, are Liberty Seated quarters. Seated quarters are the mid point denomination between the smaller dimes and half dimes and large half dollars and dollars. However, low mintages throughout the Seated quarter series makes this a very challenging collecting project, especially for those seeking CAC approved specimens. Frankly, at current price levels, Liberty Seated quarters remain a bargain and have much upside potential, on a long term basis.

Quality Liberty Seated Quarters to Consider!

  

  

  

So ends today's Blog. Time for a shower and preparing to drive to Tampa for the FUN pre-show. Please check back on Wednesday morning for a report on pre-show new purchases.

Thank you for checking in and wishing everyone a great start to 2018.

 

 

 

January 1, 2018

Happy New Year 2018!

Greetings and welcome to the first Daily Blog edition of 2018.

Sorry, but there will be no summary of 2017 events or a crystal ball forecast for what 2018 will bring in terms of coin market or global finance. Rather, let's stay focused on the day to day GFRC events and the life of a small business owner. Drip by drip, GFRC and LSCC community growth may not be sexy or worthy of headlines, but is how I feel comfortable executing business and living life. Integrity is also paramount.

Question: Any Advice for Opening this Capital Plastic Holder?

I was taken aback by the amount of feedback and advice that arrived concerning yesterday's question on how to open the riveted Capital Plastic holder. Emails arrived throughout the day along with a phone call from a reader in Hawaii. Wow!

There were two common themes. First is to use an oversized drill bit to drill out the rivets. Second is using a hacksaw to cut the edges off the holder. Both are great pieces of advice and could have been easily done back in Maine workshop as I have a large bench vise and drill. Instead, Dan White is coming over to the GFRC office this afternoon with his drill and bit set to get the job done.

A sincere thank you goes out to everyone who took the time to respond. I was blown away by the amount of emails and the Hawaii originated phone call.....

 

GFRC Website: Dynamic Price List and Sales Archive Applications

Let's start 2018 with a reminder that the GFRC website offers two special apps to enhance customer buying experiences. They are as follows;

- Dynamic Price List Application - A dynamic query app that allows user to sort through the 1600 piece GFRC price list by using 14 different parameters. This app is the fastest in the numismatic industry as custom designed for the COIN database.

- Sales Archives Application - Once establishing a GFRC account, customers will be able to examine the GFRC Sales Archive for past sales using a dynamic query application. My goal is to have GFRC recognized as the primary source for CAC approved pricing data for early type coins. Stay tuned on this thought as more software development is in progress by Matt.

Look for an advertising campaign in the Gobrecht Journal and Coin World during the first quarter of 2018 to highlight these applications.

 

LSCC January 2018 E-Gobrecht is Published; Bill Bugert's 14th Year as Editor

Like clockwork, the January 2018 edition of the E-Gobrecht arrived to my Inbox at 5:42 pm yesterday. An incredible call out goes to editor, Bill Bugert, for staying the course as he starts the E-Gobrecht's 14th publishing year!

The January 2018 issue can be downloaded by clicking here as your first numismatic reading of the year. A summary of content is as follows;

- Bill Bugert drives home the point that it is time to pay club dues. After the initial notice to membership, we have a 72% renewal rate through payment or multi year memberships. That leaves 187 members still not renewing. A second mailing is therefore required, at additional effort and cost, to remind these individuals that they will not receive the Spring Gobrecht Journal without renewing dues. I trust that no Daily Blog readers are part of this group!

- Craig Eberhart is back with several months of Auction News.

- Gerry Fortin discusses the Premier LSCC Membership Medal program and asks for your support. Have Daily Blog readers considered ordering a silver medal at $70 shipped or the magnificent four piece gold, silver and copper set?

- Dennis Fortier provides a regional update as there are a host of LSCC events forthcoming.

- Len Augsburger discusses the newly released Liberty Seated Dollar variety book by Dick Osburn and Brian Cushing.

- Greg Johnson provides details into several 1844-O quarters (a challenging date) with rim cuds.

- Benny Haimovitz is back with his monthly Cracked, Shattered and Terminal column too. This month's subject is the 1875-S Briggs 4-D Liberty Seated quarter with lapped dies and adjustment marks.

My sincere thanks go out to the group of leading numismatist for sharing their ongoing expertise!

 

GFRC Consignment News

We kick off 2018 with an awesome Liberty Seated half dollar offering from none other than the Seal Beach Collection. This six piece lot is loaded with Choice and Gem rated halves. There are multiple FRoR on the two 1860 halves and these will be gone by end of day. But importantly, please pay special attention to the 1846 6/Horizontal 6 graded PCGS AU55 as an incredible example of this popular variety. The Horizontal 6 is bold and can be seen without a loupe. Surfaces are strictly original and bright light color performance is superior.

Seal Beach Collection Welcomes 2018 with First Client Gallery of the Year!

Awesome Liberty Seated Half Dollar Duplicates

  

  

  

 

GFRC Seeks First $200,000 Consignment!

With continued progress on GFRC website, sales applications and customer base, the time has come to start soliciting the hobby for larger sized consignments. There is much competition in the numismatic market for six figure consignments but GFRC is uniquely positioned based on personal service and low risk to consignors. If the time has come to divest a major collection, then please consider GFRC as an alternative to the two major auction houses. References can be supplied upon request.

 

Wrapping Up the Blog

8:30 am publishing time is at hand so let's hit the upload button to start 2018 with another Daily Blog edition. Thank you for stopping by and please do share your Daily Blog reading experience with friends. My 2018 goal is to grow the readership by another 15-20% through word of mouth referrals and numismatic publication advertising.

Happy New Year and may 2018 bring readers much goodwill and a few nice numismatic cherrypicks!

 

 

 

December 31, 2017

Greetings and welcome to the final 2017 edition of the Daily Blog.

On behalf of the GFRC staff, I wish to express my sincere thank you to the loyal 500+ readers who visit this blog each day. I'm deeply honored with the readership and make every attempt to provide stimulating content including current GFRC and numismatic news each day. Many readers have indicated that the Blog is also educational and actually, that is one of the goals. Sharing numismatic content coupled with pragmatic thoughts and international awareness, based on years of traveling and working overseas, are the mainstay of this blog.

Again thank you for making GFRC a successful small business in 2017 and I look forward to serving the community during 2018. Handling quality coins and growing friendships are paramount for staying passionate about the GFRC business. I'm optimistic about collectibles during the coming year and especially for CAC approved early type coins and numismatic gold. The upcoming FUN show will be the first major event and is a litmus test for this optimism.

Speaking of the FUN show, we move into this event immediately after New Year Day with Dan White and I heading to Tampa on Tuesday for pre-show buying. Following is the final reminder of the bourse location for Gerry Fortin Rare Coins and W. David Perkins Numismatics. Please come visit us at Tables 1133 and 1232 to take in some of the finest "collector" grade early type coins on the bourse.

Tampa FUN Show - January 4 - 7, 2018

Gerry Fortin Rare Coins and W. David Perkins Numismatics - Tables 1133 & 1232

 

Dodging a Bullet Back in Maine

In Saturday's Blog, I made mention that ADT called at 3:00 am to report a low temperature alarm. There is much more to that story and I feel incredibly fortunate today to have dodged a frozen heating system. Please read on....

After writing yesterday's Blog, I called Atlantic Heating in Portland, Maine to send a repair person to check on home and the cause of the temperature alarm. This individual, named John, arrived at Raymond home at 10:00 am with house key in hand but without the security code to close down the alarm siren. Immediately after arriving, he calls to report that the alarm system siren is deafening (this is good) and that the recirculating pump for the individual heating zones is not functioning but luckily, the burner was operating non stop with convection moving some water to the hot water tank. With the burner operating continuously, there was enough heat in the bottom floor level to keep the house at "gravity", a oil burner man term for minimum heat to avoid freezing pipes. Let's remember that outside air temperature on Saturday ranged from -10F to -20F based on location.

Since John entered my home without the ADT security code, ADT calls to report an entry. Further discussion on the temperature alarm revealed that the alarm went off at 8:00 pm Friday evening and we were not called until 3:00 am on Saturday. Reason given by ADT is that the Fortins were not a priority customer. Lovely....... After speaking with several managers, we were upgraded to immediate priority calling for any future alarm. Therefore the Raymond home was without recirculating heat from probably 6:00 pm Friday until 11:00 am Saturday during sub zero temperatures. If the furnace had shutdown, rather than just a recirculation pump/relay board, then the heating system would have frozen.

John returns to the Raymond home on Tuesday for replacing other control boards on a proactive basis and a final check of the boiler water pressure.


Question: Any Advice for Opening this Capital Plastic Holder?

Part of the PCGS Rattler consignment, mentioned in December 27 Blog, is an 1927 St Gaudens $20 that needs to be graded at FUN. This $20 piece is housed in old Capital Plastic holder with four rivet style fasteners per the below image. My prior experience with Capital holders is that plastic screws are used as fasteners. Does anyone have advice on how to disassemble this holder? The rivets are tight and attempting to place a knife or screwdriver under the front or reverse surface rivets is quite challenging since as there is nothing to grip without cutting a channel in the plastic. My appreciation goes out to anyone who might have experience in opening this old style holder beyond hammering.

  

 

 

Last 2017 GFRC Business Day

After providing a 2017 GFRC business summary in Saturday's Blog, seven additional coins were sold and I am very appreciative for those orders. Incremental orders totaling $4500 or more today would be enough to place GFRC at the 15% year on year growth milestone. Sorry, I'm just a former corporate person that is use to management via metrics.......

 

Daily Featured Coins

How about closing out today's Blog edition with some pricing reduction from the Port Matilda Collection? Following are quality offerings at reduced prices going into the Tampa FUN show. Your considerations would be welcomed and appreciated.

Port Matilda Collection - Price Reductions

  

  

  

So ends the last Daily Blog of 2017. It has been an exciting year but I'm not one for recapping end of year events. Let's look forward into 2018 as the GFRC community continues to upgrade and enhance their sets. My role is to locate more exciting numismatic possibilities for the community along with continued improvements in consigned coin sales velocity.

My wish for 2018 is a named consignment valued at $200,000 or more. This event would be a validation of the GFRC business model entering the next level within the numismatic industry. The website and marketing pieces are in place.....how to locate this sized collection will be the challenge.

Happy New Year's Eve celebrations and wishing everyone much numismatic fortune during 2018. See you tomorrow morning.

 

 

 

December 30, 2017

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

Yes, it is very cold in Maine with the Raymond 3:00am temperature at -10F. Why should I know this fact? ADT called at 3:00am to advise that the temperature sensor in our Maine home had alarmed. This morning brings a call to our heating oil and furnace vendor to check the situation at our home. Tonight's overnight temperature is forecasted to be even lower at -13F.

Back in Venice, the morning temperature is 52F with a forecasted high of 66F. FUN show week brings a cooling trend with Thursday's forecast low at just 33F. Individuals traveling to Tampa and the FUN show, to escape the brutal northern temperatures, may be advised to bring some warm clothes as evenings will be hovering mostly above freezing.

 

GFRC 2017 Business Summary

The holiday season and terribly cold weather have not been ideal for the numismatic business. December revenue matched that of 2016 though less coins have been sold during 2017. Luckily, GFRC sold a reasonable number of four figure coins at the start of the month. With just two days left, it would be great to enjoy a few more online sales before the FUN Show week arrives.

As for 2017 as a whole, it has been a robust year at GFRC. Liberty Seated coinage sales across all denominations continued to ramp during the year. After a quiet first half, United States gold sales kicked in for smaller denominations. 2016 had been a strong year for United States gold sales but that market segment took a dip going into 2017. As a result, more silver type sales were necessary to overcome slower large denomination gold sales on a year to year comparison basis. Bust coinage sales have been steady with the primary challenge being stocking quality inventory. CAC approved Capped Bust half dimes, dimes and quarters did not last long on the GFRC price list and locating replacements at competitive prices is difficult.

With just two days to go in 2017, GFRC has sold 1771 coins as compared to 1642 for 2016. That is an 8% volume increase and an average of about 150 coins per month. Overall sales revenue grew by 14% since the average price per coin sold also increased during 2017. I've made it a priority to continue adding more four figure coins to inventory during 2017, and the results demonstrate this fact. Consigment sales were also up from 2016 and a sincere thank you goes out to everyone who divested coins in the past 12 months.

Matt and I must gaze into our 2018 crystal ball and decide upon a new sales forecast including setting monthly goals. The sales and gross margin forecast then drives available monies for advertising and software development. The consignment commission increase of 0.5%, effective for new consignments starting Feburary 1, will have a minimal impact until mid year unless GFRC can locate several substantial ($100,000) consignments during the first half of 2018. Recent website improvements should provide an incentive to those individuals considering a major numismatic sale this coming year. I'm working strategically, to become competitive with the major auction houses, for six figure consignments.

 

GFRC Consignment News

Oregon Beaver Collection

The following Oregon Beaver Collection client gallery is the last consignment display of 2017. Following are more quality Liberty Seated halves to consider on a Saturday morning. As usual, First Right of Refusal (FRoR) is in order as these pieces will be reaching the price list today and loaded into FUN show inventory.

Oregon Beaver Collection Consignment - December 30, 2017

More Quality Liberty Seated Halves

    

    

Remaining in the GFRC consignment queue are lower priced submissions from the Massachusetts Collection and another round of repatriated United States coins from the Gansu Collection. These coins will receive attention after I wrap up Tampa FUN show presentations today.

New Jersey Collection - New Orleans Liberty Seated Halves

A reminder that Tampa FUN brings the second installment of the New Jersey Collection of Liberty Seated Halves. The second installment includes residual San Francisco struck halves plus the New Orleans pieces. All pieces are graded AU58 to low mint state and have been off the market for second decades. The first installment, after being transferred at Whitman Baltimore, was nearly a sell out with the 1855-S NGC AU58 CAC specimen still being available.

 

Daily Featured Coins

GFRC is blessed to work with a host of great consignors. Leading the list is the Osprey Collection. Dan White has become a very close friend as we work together at major shows. Dan is constantly searching for quality silver type and United States gold to maintain GFRC's reputation for offering some of the best collector coins in the numismatic hobby. This morning, let's feature offerings from the Osprey Collection.

Osprey Collection Type Coins

  

  

  

This concludes today's edition of the Daily Blog. Please stay warm and safe as northern United States temperatures are frigid. I will be back on Sunday morning with the final Daily Blog of 2017. Another year is in the history books.....amazing.

 

 

 

December 29, 2017

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

Time flies by much too quickly! Matt, Chikae and Natsumi return to Beijing today with a morning departure from Tampa and then connecting in Washington Dulles. As a result, today's Blog will be brief. Here is a photo of Matt and Natsumi taken yesterday at a Sarasota circus event. Natsumi is growing up so quickly and turns four in early March.

 

GFRC Dynamic Price List Application

My thanks go out to customers and friends who test drove the Dynamic Price List application on Thursday. Some obvious issues were identified and immediately corrected. By evening time, the application appears robust and ready for usage when customers and clients return from holiday week vacations.

 

GFRC New Purchases

Inventory continues to be added to the price lists including these strictly original Barber 1908-O and 1913-S halves. Both are approval by CAC and already loaded onto the price list.

GFRC New Purchases

Choice Original Barber Halves with CAC Approval

  

 

Global Financial News

Friday opens with crude oil breaking through the $60 level and gold inching up again to $1299+. Bitcoin recovered $500 to $14272 but who knows where it will be come Monday. Let's focus on Seeking Alpha headlines that help explain the current movement in commodity prices. With a robust United States and global economy, higher oil prices could be expected during 2018 unless the Saudis and OPEC start cheating on production quotas.

U.S. oil prices have reached their highest since mid-2015 due to an unexpected fall in American output and commercial inventories. Crude futures are currently up 0.6% to $60.21/bbl, after hitting a high of $60.32 earlier in the session. Since the start of the year, WTI has climbed around 12%, although the price rise from mid-2017 is much stronger, at nearly 50%.

A lower U.S. Dollar is desirable for increasing exports and probably part of the overall Trump administration strategy.

Measured against its major peers, the dollar has shed more than 9% this year, putting it on track for its biggest annual loss since 2003. So which legal tender has shined against the greenback? The euro has topped the pile of G10 currency gains, and is currently at its highest level in a month at $1.1977. That's almost 14% higher vs. the dollar over the course of 2017.

India is the latest country to express concerns about cryptocurrencies.

India's finance ministry is the latest global regulatory body to caution about the risks of trading in cryptocurrencies such as bitcoin, saying the investments are like "Ponzi schemes." Cryptocurrencies are not legal tender and have no regulatory permission or protection in the country, according to the ministry, but it stopped short of announcing an outright ban or imposing any curbs.

I can't believe the Chinese were so blatant with using cargo ships to secretly move oil to North Korea. This is typical behavior of a two face policy and refreshing to see China being caught in the act.

"Caught RED HANDED - very disappointed that China is allowing oil to go into North Korea," President Trump wrote in a tweet. Ship-to-ship trading of goods between the nations had been specifically banned in September's UN resolution. "If they don't help us with North Korea, then I do what I've always said I want to do," he told the NYT, threatening to take trade measures against Beijing.

 

Daily Featured Coins

The FUN show arrives next week with dealer setup on Wednesday. Dan White and I will attend the pre-show event and auction lot preview on Tuesday. Any coin in GFRC inventory could be sold at FUN show as I'm expecting a strong turnout with collectors in a buying mood. If you've been considering a certain item in inventory and not attending FUN, then this may be the time to pull the trigger. Here is a preview of great coins that will be on display at FUN with the New Jersey Collection 1855-S NGC AU58 Liberty Seated half being the centerpiece in my frame display.

  

  

  

Thank you for visiting the Blog on a Friday morning. I will be back on Saturday with more ramblings. Time for a shower followed by health walk and then focusing on FUN show preparation throughout the day. I've procrastinated long enough.

Have a great day!

 

 

 

December 28, 2017

Greetings and welcome to the Daily Blog on a quiet holiday week.

The Venice office is anything but quiet with Matt available for website application development. In between packing and shipping, photography and loading coins on the price lists, Matt is camped out in the small office and writing code. There are questions and immediate decisions on new application features or how certain screening parameters will be handled. Then magic happens and Matt asks that I test drive his code to find the obvious bugs. Quick fixes are made and another really cool numismatic application is made public to the GFRC community. Wednesday brought the GFRC Dynamic Price List application that will probably turn a few heads in the business. As I've always mentioned to Matt, simplicity is beautiful. Customers desire to get at information quickly and efficiently without moving back and forth through screens and selection boxes. Matt took this advice to heart when developing the Sales Archive and now, the Dynamic Price List app.

Otherwise Venice weather is amazing for late December and able to get a daily 3 miles health walk in before another long day in the GFRC office. With all the software development, I've not even started on FUN show presentations and need to get going on these projects. But life is fun when fully engaged and exploring possibilities.

 

GFRC Dynamic Price List App has Arrived!

Matt Yamatin does it again with another awesome GFRC website application. I am incredibly pleased to announce the GFRC Dynamic Price List sorting application is already online to simplify the checking of GFRC price list for that special coin customers may be searching for. By re-using the core code inside the GFRC Sales Archive, Matt quickly developed a dynamic price list query application that is the fastest price list sorting offering in the numismatic industry. Below is a screen capture that illustrates the placement of the GFRC Dynamic Price List application link.

GFRC For Sale Page

 

Below is the Dynamic Price List page with a host of screening options. The traditional screening parameters are available including design, denomination, date, grade, CAC approval, and TPG holder. But GFRC offers more options including GFRC quality rating, die variety, old holder type and most exciting, named Consignor Collections. Customers can quickly drill down to a favorite Consignor Collection and check to see if PCGS Rattler holder with CAC approval is offered.

Please give the Dynamic Price List tool a test drive and report any anomalies as we need the community's help to quickly debug and locate subtle issues. Enjoy and have fun!

GFRC Dynamic Price List

Get ready to rock and roll with lightning fast sorting!

 

GFRC Consignment News

Upstate New Collection

While Matt was writing code, the latest Upstate New York Collection images were being processed followed by the lot reaching the price list. As mentioned previously, this is by far the best offering from this consignor. Nearly all pieces were assigned Choice and Gem quality ratings. Already three pieces are on hold and more should sell today. Collectors should be bold when old time quality coins are released back into the market. Following is the Upstate New York Collection client gallery.

Upstate New York Collection Consignment - December 28, 2017

An Eclectic Offering of Quality Type Coins

  

    

    

 

Oregon Beaver Collection

The Oregon Beaver Collection Seated halves, as illustrated in the December 27 Blog, are now reaching the price list. The entire lot will be completed today followed by image formating for his incremental shipment.

 

Global Financial News

Moving on to Seeking Alpha headlines for a Thursday, we find crude oil priced at nearly $60, spot gold continuing to inch upward at $1295 and Bitcoin being hammered again in overnight Asia trading. Bitcoin is now down to $13700 to start the day in the west. Gold's systematic upward move is probably tied to a slow erosion in the U.S. dollar. Please check the following headlines.

The U.S. dollar index has slipped to as low as 92.36, its weakest level in three months. "I think people have been long dollars into the [Fed's December] rate hike, into the passage of the tax bill, and right now people are just pulling back," said Lee Jin Yang, research analyst for Aberdeen Standard Investments. The index has dropped more than 9% this year, putting it on track for its biggest annual slide since 2003.

South Korea is contemplating more Bitcoin regulations and suggesting the bubble will burst soon.

Dramatic gains, dramatic declines... Bitcoin plunged as much as 11% overnight to $13,613, as South Korea - the ground zero for crypto interest - eyed new regulations that would include prohibiting anonymous trading accounts and could give authorities the ability to shut down exchanges. The head of the country's financial regulation agency also told reporters that the "bubble in bitcoin will burst later."

Soda and other sugary drinks are known to be unhealthy and addictive. In the past year, I've completely done away with these products and feel much better. Now South Africa joins a long list of countries that are taxing sugary drinks as an attempt to reduce their consumption. Unfortunately, Big Soda is big business in the U.S. and will be challenging any local governments when regulations or taxes are attempted.

South Africa will start to tax sugary drinks next year, which could have an impact on $5M worth of U.S. beverage exports, according to the USDA. Thailand moved ahead with a tax in September, while Mexico introduced one in 2014 and the U.K. is rolling out a similar levy. A handful of U.S. regions introduced them in 2016, but Big Soda scored a victory when Chicago's home county voted for a repeal.

 

Wrapping Up the Blog

My day started early at 5:30 am to keep the consigned coin momentum going as Tampa FUN is quickly approaching. This Blog edtion was completed at 7:00 am allowing some free time to load the balance of the Oregon Beaver Collection Seated halves to the price list.

Let's pass on the Daily Featured Coins module for today as GFRC customers are invited to explore the Dynamic Price List application and maybe, just maybe, locate a coin that will strike their fancy. There are only three days remaining in 2017 to wrap up the GFRC business year. How I would love to sell the New Jersey Collection 1855-S NGC AU58 CAC Liberty Seated half dollar to wrap up the year with a huge sale.

Thanks for stopping in at the Blog and wishing everyone a great day.

 

 

December 27, 2017

Welcome to the Daily Blog on a peaceful Wednesday morning. Thank you for checking in.

Can you imagine being on a trans Pacific flight (Los Angeles to Tokyo) for four hours and having the jet pull a U-turn due to an unauthorized passenger on board? It happened with yesterday's ANA 175 flight. My sympathies go out to the passengers who are overnighting in LA and making another passage attempt today.

Today's Blog edition will be bits and pieces as there is much happening prior to the FUN show.

 

GFRC Achieves $2.2 Million Consignment Proceeds Milestone

I'm pleased to report that with Tuesday orders, GFRC achieved the $2,200,000 milestone for proceeds returned to consignors. The $2 million threshold was crossed on October 5. Just yesterday, I wrote over $20,000 in checks to consignors to ensure that everyone is paid quickly after consignment sales are closed out.

 

GFRC Sales Archive Feedback

Feedback arrived from a host of individuals who took a test drive of the GFRC Sales Archives app. Following are a few of the comments.

Looks like the Sales Archive App is the GFRC answer to (certain) auction houses' archives and the venerable Coin Facts site. It's great to see what sold for what, and what did it look like - a fine way to track recent sales. As you stated the "price guides" don't measure up and are only a guide. These "archive" sites show what's actually going on in the market at this time and am glad GFRC is a part of it. I wish I could buy coins at some of the price guides' prices!

Good morning Gerry, I hope your Christmas was well enjoyed with family, I just checked out the new sales archive and I'm so impressed with it, the ease of navigation and the amount of information it contains is another reason why GFRC will be the place to shop first when looking for coins.

Please pass on my gratitude to Matt for his work on the sales archive. What an incredible resource!!!! I have already used it for seated halves research.

Before Matt and I flicked the switch and made the Sales Archive live, there was a COIN database clean up effort on Christmas Day. The COIN database has over 8000 records so a precise clean-up was not possible. Instead, columns were sorted looking for extraneous data entries that required corrections. I spent about 30 minutes on Tuesday wandering through the COIN database via the GFRC Archive application and found more entries needing modification during the upcoming week. Your patience is appreciated in this regard.

How I wish that more Archive listing had descriptions and images but these did not start in ernest until early 2016. What did strike me was the amount of CAC approved coins that have been sold in the past two years and especially during 2017.

 

GFRC Consignment News

Oregon Beaver Collection

The Oregon Beaver low mintage $2.5 quarter eagle gold pieces (1868, 1870, 1874 and 1887) reached the price list on Tuesday. Then attention shifted to processing images for the Liberty Seated halves in the same consignment. Below are those offerings including two important dates that are missing in many collections; 1842-O Small Date Reverse of 1839 graded PCGS VF35 and an 1878-CC example residing in ANACS VG10 holder. These halves will reach the price list by end of day.

Oregon Beaver Collection Consignment - December 27, 2017

Liberty Seated Half Dollars

    

    

    

   

 

Local Florida PCGS Rattler Consignment

I'm pleased to report that a six piece PCGS Rattler consignment arrives to the GFRC office this afternoon. This lot has been stored in safe deposit box for decades and goes to CAC review before being priced and offered. A Sarasota area GFRC customer is helping an older person with the sale of this lot and selected GFRC for consignment and best possible financial outcome. Following are the contents to consider.

Silver 3c: 1862 PCGS MS64

Seated 5c: 1872-S PCGS MS64

Barber 50c: 1912-D PCGS MS63

Early Commem 50c: 1925 Lexington PCGS MS65; 1936 Delaware PCGS MS65

Morgan $1: 1894-O PCGS MS62

 

Seal Beach Collection Announces Another Liberty Seated Half Dollar Consignment

I received an email from the Seal Beach Collection consignor on Tuesday indicates another group of Seated half duplicates will arrive later in the week. Following are the contents and FRoR is always warranted when Seal Beach Collection shipments are announced.

Seated 50c: 1846 WB-7 6/Horizontal 6, PCGS AU55; 1862-s PCGS AU55; 1860 PCGS AU58 CAC; 1860 PCGS AU50 CAC; 1866 PCGS AU55; 1889 PCGS AU50

 

Global Financial News

Commodities are in a rally mode with copper showing impressive gains of late. Crude oil is a fraction less than $60 with gold quietly inching up to $1290. Bitcoin holds ground at $15600. Let's review Seeking Alpha headlines as several important items to note.

World stocks are edging higher as copper prices rocketed to multi-year highs, while mining and oil stocks strengthened with WTI crude briefly topping $60/barrel. The advance follows the explosion at an oil pipeline in Libya and China ordering its top red metal producer - Jiangxi Copper - to halt output to combat winter pollution. "The rally in copper supports expectations that 2018 is going to be a strong year for synchronised global growth," said Greg McKenna, chief strategist at AxiTrader.

Is China's Xi Jinping attempting to make himself a modern day emperor?

China's ruling Communist Party will meet next month to discuss amending the constitution for the first time since 2004, the Xinhua News Agency reports. Speculation has swirled that Xi Jinping might seek to stay in office beyond 2022 after unveiling a leadership lineup in October that didn't include a potential heir. Under the current constitution, the president can only serve two five-year terms.

A quiet United States civil war is underway in the courts over air pollution. It is the Northeast vs. the Midwestern states.

Eight Northeastern states are suing the EPA to force it to impose more stringent controls on a group of mostly Midwestern states whose air pollution they claim is being blown in their direction. "Smog pollution continues to pour in," New York AG Eric Schneiderman declared. The coalition wants the territory to be added to the "Ozone Transport Region," which requires stricter pollution controls.

An Amazon Echo Dot in every home by 2019?

Santa delighted Amazon this year with the company announcing its biggest ever holiday season as the Echo Dot became the top selling product across all categories. Shoppers even asked Alexa to order more Alexa devices as "tens of millions" of devices were sold powered by its smart voice assistant. The Fire TV Stick with Alexa Voice Remote was a hot product, while the Echo Spot and Echo Buttons sold out.

 

Daily Featured Coins

There are only five days remaining in 2017 and orders continue to arrive at a slow pace. Following are Carson City minted Morgan dollars to consider for your collection.

  

  

  

So ends another Daily Blog edition. Time for early morning health walk followed by more packing and shipping as a large stack of check payments arrived on Tuesday. I must also start working on Tampa FUN show items; the LSCC regional meeting agenda and contents along with my Saturday presentation on Underrated Liberty Seated Quarters. There is never a dull moment in the GFRC office.

 

 

 

December 26, 2017

Greetings on the day after Christmas and welcome to the Daily Blog.

December 26 is well known as the day that Christmas shoppers head back to the malls to return or exchange gifts. That is not the case here at the GFRC Venice office as I am about to announce an incredible Christmas gift from Matt.

Unfortunately, Dr. Renee must quickly return to Austin to staff her rotation at the Terrell Veterinary Clinic. She and husband-to-be, Mike, are already on their way to the St. Petersburg airport. Time with family goes by much to quickly.

GFRC Shipping Restarts Today

Placing expensive numismatic items into the USPS system immediately before Christmas is always a risk. For example, one of my Christmas gift is wandering aimlessly across the eastern United States with delivery date unknown. Therefore, I've held back on GFRC shipments since December 22 and will be catching up today. It should be much smoothly sailing for our 2 Day Priority packages.

Yes, I also recognize that some orders have special shipping instructions and need to be held until end of month.

Now onwards to the major announcement of the day!

 

GFRC Sales Archive App has Arrived!

I'm incredibly pleased to announce the addition of the GFRC Sales Archive application to the list of services provided to GFRC customers. The GFRC Archive was written by Matt Yamatin and provides dynamic extractions of COIN sales database information. Below is a screen capture of the easy to use application. I'll explain in more detail below the screen capture image.

 

GFRC Service Goal:

There are many available Pricing Guides in today's numismatic market but most are poorly maintained for Bust and Liberty Seated coinage due to niche collecting status. GFRC specializes in Bust, Liberty Seated and United States gold with emphasis on choice examples and CAC approval. Pricing premium coins is challenging since existing pricing guides, when properly maintained, focus on average quality coins for the grade. Someone had to step up on this issue and GFRC is taking the first step with the release of the Sales Archive application.

Collectors will be able to interactively search the GFRC COIN database against a host of screening criteria. The dynamic extraction engine immediately updates the output screen as new criteria are selected. Gone are the old days of needing to make a selection and hitting the Enter key. Output reports are formatted as popular price list tables which are well known to the GFRC community.

How to Access the GFRC Archive:

To use the GFRC Archive, customers must be registered, via My Account screen, and login in with Username and Password. Once logged into an account, then click on the Sales Archive tab on the upper gray banner. Once inside the GFRC Archive application, the screen will look as follows;

 

Dynamic Extraction Criteria:

The GFRC COIN database can be searched against the following criteria on a dynamic basis. Simply select a criteria from the drop down menus and the search results will automatically appear under the search parameters. It is that easy to use!

- Major type or designs which covers nearly all GFRC product lines.

- By denomination, date and mint separately or together.

- By Third Party Grading service and/or CAC approval.

- And finally, by GFRC Quality System rating.

GFRC Archive Size:

The GFRC COIN database was launched back in March 2016 and captures all sales listings from that point forward with full descriptions, quality rating and image files. Prior to March 2016, GFRC sales information was kept in Excel spreadsheet and ported to the COIN database but without coin descriptions or image file links. Presently, there are over 6000 sales records accessible in the GFRC Archive. Please understand that coins sold before June 2016 will not have complete records and simply captures coin denomination, date, grade and sale price. As GFRC volume continues to grow, during 2018, the Archive will become increasingly useful as the database is populated with incremental sales records.

Potential GFRC Archive Uses:

GFRC's primary goal is handling choice and gem original numismatic items; many are CAC approved. The GFRC Archive provides account holders with an opportunity to research retail sale prices for premium coins. By using the Choice and Gem Quality Rating filters and/or CAC filter, users can easily determine the fair market value for premium early type coins and also United States and gold and 20th century issues, where available.

The Archive is also a great place to determine the retail value of die varieties including those in the Top 100 Liberty Seated dime set or the Top 25 Seated quarter varieties.

Finally, registered users can also filter the GFRC Archive for Cleaned and Market Acceptable coins and determine fair market value for those coins with issues.

Next Steps

So please take a test drive of the GFRC Archive and tell us what you think. GFRC now offers compelling reasons to establish an account; Open Set Registry participation, access to the GFRC Archive and a special display of your purchases at the My Orders tab.

However, Matt is not done with the development of the GFRC Archive module. Stay tuned for the next major annoucement that will take place immediately after the FUN show. The next application innovation will position GFRC as the leading numismatic destination for premium early type coins, Barbers and United States gold. You have my word!

 

Global Financial News

We open the balance of the Christmas to New Year holiday week with a host of international financial headlines from Seeking Alpha. First a look at the commodities; Crude is at $58.41 while gold continue to inch up at $1282/oz. Then there is Bitcoin which already recovered much of last week's losses and is quoting at $15246

Here are some headlines to consider on the day after Christmas. We start with Israel's crackdown on crytocurrencies as more countries are taking measures to ban the bitcoin exchanges.

Israel has become the latest nation to crack down on cryptocurrencies, proposing regulation to ban companies trading in bitcoin from operating on the Tel Aviv stock exchange. The move follows last week's warnings by FINRA against firms that "tout the potential of high returns associated with cryptocurrency-related activities," as well as China's decision to shutter bitcoin exchanges and ban ICOs in September.

However, Bitcoin has rallied but still poses substantial risks due to "excessive irrational exuberance"......better said as greed for quick outsized profits!

Despite the news, cryptos went back into recovery mode overnight, with bitcoin rallying over 10% past $15,000. "The most important question facing it is whether the recent price correction will prove to be what market participants refer to as 'healthy'," said Mohamed El-Erian. In other words, one that shakes out "excessive irrational exuberance, provides for the entry of institutional investors, encourages the development of market-deepening products, and widens the investor base and the product offering."

Heading back to China, is the PBOC (Peoples Bank of China) hoping to kill a few chickens to scarce the monkeys?

China needs to let local governments take responsibility for their finances, including allowing bankruptcies, as part of an effort to defuse their debt risks, said Xu Zhong, head of the research bureau at the PBOC. "A case like the bankruptcy of Detroit would convince investors that the central government is really determined to dispel beliefs of an implicit guarantee for regional authorities."

India's economic growth remains steady with forecasted GDP to exceed Britain and France economic activities during 2018.

India looks set to leapfrog Britain and France next year to become the world's fifth-largest economy in dollar terms, according to a report by the Center for Economics and Business Research. India's ascent is part of a trend that will see Asian economies increasingly dominate the top 10 largest economies over the next 15 years. CEBR also predicted that China will overtake the U.S. as the world's No.1 economy in 2032.

 

Daily Featured Coins

There are only six days remaining in 2017! I would love to close out 2017 with some substantial orders before heading to the Tampa FUN show next week. Please remember that every sale is another entry in the GFRC Sales Archive. Here are some quality coins that were recently added to the price list and should be carefully considered if you received cash as a Christmas gift.

  

  

  

 

 

 

 

 

December 25, 2017

Christmas 2017 has arrived throughout the world; peace and goodwill to mankind.

Welcome to the Daily Blog on Christmas Day as yet another year wraps up much to quickly!

Christmas is special in many ways for your author. Little Natsumi is still sleeping and soon, it will be time for the Christmas morning tradition of opening presents. Even without snow and cold temperatures, the spirit of Christmas can be found whereever families and loved ones are assembled physically or through the power of the internet.

 

GFRC Consignment News

With Tampa FUN just around the corner, Mack the Mailman and his associates are busy delivering more consignments to the Venice office. Saturday brought a wonderful offering from the Upstate New York Collection plus a second shipment from the Oregon Beaver Collection. Following are the details with First Right of Refusal (FRoR) suggested.

Upstate New York Collection

This is by far the best offering from an individual who has been collecting for the better part of his life. Like all of us, he is slowly divesting his collection in a slow and well managed approach. The GFRC community should pay careful attention to the following pieces as my words are not marketing hype. These are beautifully toned early type coins that any numismatist would be proud to own.

Classic Head 1/2c: 1828 PCGS MS63RB 13 Stars with vibrant red-brown cartwheel luster. Old holder and conservative grading.

Capped Bust 10c: 1831 JR-6 PCGS AU58 CAC ex Gorman Collection with gorgeous aquamarine gold luster

Capped Bust 25c: 1831 B-4 PCGS EF45 gem original at the assigned grade with huge eye appeal

Capped Bust 50c: 1818/17 PCGS EF40 CAC gorgeous gray-gold patina and luster; 1826 ANACS AU50 old time album rainbow radial toning

Seated 50c: 1854 NGC AU58 CAC mottled obverse rainbow toning with frosty luster; 1858 PCGS AU53 beautiful rose-aquamarine cartwheel luster; 1876 NGC AU53 classic old album blue, aquamarine and gold radial toning.

Oregon Beaver Collection

This West Coast collector is actively pursuing a superior Liberty Seated half dollar set as being witnessed on the Open Registry. Like every collector that starts with EF/AU examples and graduates to mint state specimens, there is a need to divest the duplicates. This process is now underway with the help of GFRC consignment services.

Following is a new shipment of duplicates for the GFRC community to consider.

Seated 50c: 1842 Medium Date PCGS AU53 light gold luster; 1848-O PCGS EF45 choice original gray; 1857 PCGS EF45; 1858 PCGS EF45+ choice gray, hammered strike; 1864-S WB-1 PCGS EF40 light gray; 1878 PCGS AU53 ex GFRC, gorgeous luster and rim gold patina

 

Other New GFRC Arrivals

The past two days also brought new purchases and single piece consignments. Following are two Liberty Seated dimes that will be reaching price list shortly.

Seated 10c: 1838-O F-102 PCGS F15 CAC OGH even gun metal gray and choice; 1845-O F-101 PCGS EF45 old blue label holder, fully struck early die state with lovely original surfaces

 

GFRC Website Updates

With the Yamatin family residing at the Venice home and GFRC office, there has been much time for Matt and I to brainstorm where and how to enhance GFRC website and applications. We will be adding a "Buying" link as GFRC moves up and pursues the outright purchase of CAC and CAC equalivent quality type coins for inventory. But there is more with another major application being explored. I'm not certain if this application will be completed during Matt's stay but it is a substantial new service offering for the GFRC community. Stay tuned.

 

Wrapping Up the Blog

Let's end the Christmas edition of the Daily Blog here. Thank you for checking in.

Merry Christmas!

 

 

 

December 24, 2017

Welcome to the Blog on a quiet Christmas Eve and thank you for checking in.

The Fortin clan visited the famous Nokomis Beach drum circle event last evening and enjoyed a colorful sunset. Central Florida weather has been amazing for late December with highs near 80F and lows in the mid 60s. The new Acura MDX turns out to have been a prudent purchase with seating for 7 people and an ideal transport for the clan. As usual, Matt ran to the beach as part of a daily training regiment for the upcoming Tokyo marathon in February.

We open today's Blog with a visit to Seth Godin's Blog and thoughts on why it is important for small business to stay focused on offered goods and services. The short piece is entitled "Make better tacos".

Make better tacos

In a competitive business like the local taco shop, here's how it's supposed to work:

- Keep the place clean

- Hire friendly staff

- Make better tacos

- Offer a fun, connected, even memorable experience

What often happens instead is that you coin some clever trademarks, worry about coupons, cut corners on ingredients and expand as fast as you can. What happens is that you build a moat around your business, get defensive about the status quo and race to the bottom. You're generic now, and you fight the battles that being generic forces you to fight.

And it's not just a business that makes tacos. It's monopolistic internet access, freelance graphic design and everything in between.

When in doubt, make better tacos.

 

GFRC Open Set Registry - CAC Only Sets

The introduction of the CAC only module went smoothly on Saturday. We immediately recognized that individual coin listings could not be deleted by removing content and saving since the "None" option in the CAC column cannot be selected for CAC Only sets. As a result, Matt added a Delete column and button for individual rows. Moving forward, if you wish to delete a listing within any Open Registry set, then just press the Delete button and Save the change.

Following is a screen capture that illustrates the position of the Delete button.

 

Already, an existing GFRC customer was excited about the CAC Only module and decided to join the Open Set Registry. The TGM Collection immediately vaulted into second place ranking for the Liberty Seated Half Dollar CAC Basic set. There are incremental CAC only collectors in the numismatic landscape and eventually those individuals will find their way into the GFRC Open Set Registry. It is a pleasure to have these individuals participating and sharing their accomplishments.

 

GFRC Consignment Page Update

While focused on the GFRC website, Matt also discovered an approach for calculating the "median" point in the GFRC consigned lot sales distribution. Previously, the elapsed time to sell a consigned coin was measured on an average basis and heavily skewed by a long tail that could extend into the multi-year timeframe. This was a point of frustration when reporting the average sale time as 105 days when most consigned coins sold much faster.

Moving forward, the consigned lot sales time measurement is expressed as the median point of the distrubtion (50th percentile) and is only 34 days! This measurement is more indicative of typical GFRC results. Please see Consign link metrics table as illustrated below.

 

GFRC Consignment News

Consignments continue to arrive as GFRC prepares for the Tampa FUN show. Saturday brought another Oregon Beaver Collection shipment which has not been opened yet. The Grey Soldier Collection communicated his forthcoming FUN show consignment on Friday. Saturday also brought an email from the Ft. Lauderdale Collection and his plans to consign more coins at FUN. I have a feeling that GFRC will probably exit the FUN show with a substantial amount of newly consigned coins and many new purchases.

Oregon Beaver Collection Consignment

I was able to photograph the recent Oregon Beaver Collection consignment on Saturday and worked late to prepare this gorgeous lot of low mintage $2.5 quarter eagle offerings. Fans of small denomination United States gold should carefully check these four pieces as I'm sure they will be sold at the FUN show. I hope to have these on the United States gold price list on Christmas Day.

Oregon Beaver Collection Consignment Part 1 - December 24, 2017

Low Mintage $2.5 United States Gold

  

  

 

GFRC New Purchases

Recently, I've become more aggressive with GFRC new purchases outside of the predictable Liberty Seated denominations and United States gold. GFRC's revised mission is to expand inventory content on a broader basis towards becoming a mainstream numismatic dealer rather than being viewed as a niche Liberty Seated coinage retailer.

Here is a lovely 3 cent silver piece to consider. I love this design and denomination and will attempt to add more offerings during 2018.

1861 3 Cent Silver PCGS AU53 OGH - Priced at $200

Wrapping Up the Blog

The 8:30am Blog publishing time has come and gone so best to end today's edition at this point.

Wishing all GFRC consignors, customers, friends and supporters a joyful Christmas Eve celebration with family if this is your intention. For those of alternate faiths, please accept my gratitude for visiting the Blog and wishing a blessed Holiday Season.

I will be back on Christmas morning with a short edition. Thanks and take care!

 

 

 

December 23, 2017

Greetings, Merry Christmas and Happy Holidays to Daily Blog readers. It is that time of year to enjoy the festive occasion and family reunions.

The Fortin clan is finally together for the holidays with Renee and husband-to-be Mike arriving from Austin on Friday afternoon. After pickup at small St. Petersburg airport, we headed to a Jingle Bell 5km running and party event in Sarasota. All eyes were on Matt as he took the occasion seriously and finished second overall with a time of 15:38. Upon returning home, Matt gave his father a wonderful Christmas present......the CAC Only upgrade to the Open Set Registry.

CAC Only Seated Coinage Sets in Open Set Registry Have Arrived!

GFRC breaks new ground in the numismatic hobby and formally recognizes the importance of CAC approval by implementing a CAC only module to the Open Set Registry. The new CAC only sets are available for the six Liberty Seated coinage denominations at the following tab on Set Registry link.

Welcome to the GFRC Open Set Registry Community Project

Why has GFRC taken the step to recognize CAC approval as a primary set building criteria? The response is based on personal experience and demonstrated recently, in the Daily Blog, concerning the top surviving examples for the 1855-S Liberty Seated half dollar date. CAC approval rewards coins that are strictly original, are accurately graded and have superior eye appeal. Many coins are certified by the Third Party Grading services with a resulting wide distribution in quality. The GFRC Quality Rating system was created to differentiate this population into quality categories and help customers with purchase decisions. CAC approval is a formal differentiation system that is now widely accepted in the numismatic hobby.

Here are two examples to consider.....

1855-S Seated Halves - The recent Blog research for the New Jersey Collection 1855-S NCG AU58 CAC Liberty Seated half dollar revealed the upgrading game that is so prevalent in our hobby. TPG grade inflation is a serious issue and is leveraged by dealers and collectors alike to extract quick profits. In the case of the 1855-S, a PCGS AU58 CAC example was cracked out and regraded PCGS MS62. An NGC MS61 Gold CAC was cracked out and regraded PCGS MS64. But at the new grade levels, CAC approval was not given. So which version of the certified coin would you rather have? A CAC approved accurately graded example that sells at a premium or a terminal state graded piece that will not pass CAC? For many individual involved with PCGS Set Registry competition, the latter is more important as PCGS does not reward CAC approval and never will. I'm old school and believe in the former as the old holders are consistent with conservative grading and a connection to the early days of the TPG era.

Gerry Fortin's Seated Dime Set - I built my Liberty Seated dime set during the 1990 and early 2000 era before CAC was around. Selections were painstakenly made based on superior eye appeal, full strikes and strict originality. Then TPG grade inflation arrived. I resisted the urge to play the game. Those purchases were never cracked out towards upgrading. Rather, I cherished the old green label PCGS holders as a badge of honor but the grading was too conservative to be competitive in current PCGS set registry. During the October 2013 New Hampshire Coin Expo, Eugene Gardner and I exhibited our Liberty Seated dime sets side by side. Gene's set was numerically superior to mine in terms of TPG label grades but frankly, my set compared well from an eye appeal perspective. This was validated when submitting the set to CAC for review; 83% CAC approval with many Gold CACs. If you visit the new CAC Only module, Gene Garnder's set was only 55% CAC approved before being sold.

In summary, I believe it was time to recognize those collectors who placed emphasis on CAC approval as the best vehicle for recognizing the finest surviving examples at individual grade levels. There will be those that argue that CAC is not consistently accurate and great coins are not stickered. TPG grading and CAC review are subjective evaluations of surviving numismatic collectible that are individually unique. If disagreeing with a TPG grade, then you are free to crack out and resubmit or use reconsideration. For CAC, collectors are free to request reconsideration also.

CAC Only Open Set Registry Housekeeping

Matt and I decided to only include the Liberty Seated Basic Date and Mintmark set in the CAC Only module. The code to include individual denomination subsets (varieties) would have been onerous. The new CAC only sets were extracted from the existing Basic Sets as a one time setup effort. Afterwards, CAC Only sets must be individually updated. In other words, users must upgrade regular sets and CAC only sets separately as there will be no automatic linking of entries.

Our plans are to add Capped Bust Date sets and Barber Basic Date and Mintmark sets into the module and then stop there for the time being and judge response.

 

Feedback: The Best Period in History to be a Collector?

This commentary, in Friday's Blog, was a spontaneous thought that arrived as a result of discussing the CAC Only Set Registry module construction with Matt. We are blessed with information by which to conduct our hobby and being explicit on the topic seemed like a worthy idea for the Blog. Positive feedback arrived during the day and following are several of the comments.

I believe you're absolutely correct that now is the best time in history to be a collector. Increased opportunities for buying means that collectors can specialize and tailor their collections however they wish (within their budget, of course). Plus, for those of us who can't devote a lot of time to going to shows, the internet can be a great venue for interacting with fellow collectors. Great time to be alive!

Don't want to distract from your busy morning, but I want to say thank you for the cogent summary at year's end. People often fall into the 'it's right because we do it' fallacy. There has been the notion that numismatics is pursued by aging boomers and so in its twilight. Could the study and procurement of coinage history be seen as an example of such a way of thinking? Your writing this a.m. is both a solid refutation and a timely inspiration to stay the course. Information improves efficiency and this allows collectors to spend time wisely and keep up with the other important areas of life. Way to go!

GFRC New Purchases

As the GFRC business continues to grow, expanding inventory with top quality coins remains an ongoing challenge. I'm buying more aggressively along with Dan White helping in the search for the best possible offerings but always at competitive prices. Following are several new purchases to conside on a Saturday morning. The 1860-S NGC AU58 CAC Seated half is already under FRoR.

GFRC New Purchases

1860-S Seated Half Dollar - NGC AU58 CAC

 

Original Raw Coins Heading to Price Lists

    

   

 

GFRC Consignment News

Oregon Beaver Collection

The first Oregon Beaver Collection consignment arrived on Friday and includes much more than originally communicated. Following are the entire contents to consider including important low mintage $2.5 quarter eagle United States gold.

Seated 50c: 1842-O Small Date WB-101 PCGS VF35 Reverse 1839; 1843 PCGS AU55 choice original; 1857 PCGS AU58 frosty cartwheel luster; 1861 PCGS AU50; 1863-S NGC AU55 frosty white; 1865-S PCGS EF45 original gray and well struck; 1866 Motto WB-104 PCGS EF45 scarce variety; 1872-CC PCGS VF35 choice original gun metal gray; 1876-CC WB-11 ANACS AU50 ex. Burchs Creek Collection; 1876-S PCGS MS62 CAC gorgeous frosty cartwheel luster; 1878-CC WB-1 ANACS VG10 old album toning

Gold $2.5: 1868 PCGS AU55 mintage 3,600; 1870 PCGS AU58 mintage 4,520; 1874 NGC AU58 mintage 3,920 and former Osprey Collection; 1887 NGC MS61 CAC mintage 6,160

 

Wrapping Up the Blog

Today's Blog brought substantial content. Time to take a break and enjoy a few moments with grand-daughter Natsumi before enjoying another 3 mile health walk.

Thank you for visiting during your Christmas holiday weekend. Yes, I will be available through the day via email and phone for numismatic purchases.

 

 

 

December 22, 2017

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

One peek at today's Blog content should confirm the seriousness of GFRC towards providing the best possible coins for a broad customer base. When thinking of GFRC, one could assume that Liberty Seated coinage is the primary focus and other designs and denominations are a secondary mission. If that is the case, then the customer base does not know me well. Exploration and life long learning are what drive me. The numismatic business is a incredible opportunity to expands one's knowledge of United States economic and politic history through struck artifacts. These collectibles represent the founding of our country through the current age of omnipresent electronics in our lives. Minting technologies have improved dramatically over a period of 200+ years but politics have not......

The Best Period in History to be a Collector?

Where am I going with this? Actually, I believe that present days are the best period in history to be a numismatist or passionate collector. Why? Information, information and information.

- Historical information can be easily sourced from the internet to support any numismatic purchase (maybe not for esoteric exonumia).

- Pricing information is available through many sources and allows a collector to carefully consider the cost:value equation of any purchase. Maybe there is too much information that can be confusing to the less experienced. But more information is better than less when it comes to fair market pricing of collectibles. Remember that historical artifacts are not commodities and each require individual evaluation when being purchased.

- Finally, there is availability information throughout the internet. Every serious coin dealer has a website. Collector Corner and other large mass market information collection engines, provide quick access to collectibles that are located throughout the United States and even the world.

As one collector told me several years ago, "why go to coin shows when I can collect online in my pajamas?" Of course there are risks with online purchases and building relationships with trusted dealer (product experts) are paramount to successful purchases.

As 2017 comes to a close, I am most positive about the future of our hobby and numismatics. There will always be serious students of history and coin collectors. The challenge is reaching out to these individuals, forming a community and cultivating life long learning. Developing numismatics as an alternate financial wealth accumulation vehicle becomes important for those who spend significant disposable income in the pursuit of their hobby. GFRC is approaching the coin business with these parameters in mind while persuing life long learning on a personal basis. It really is the best time to be a numismatist!

 

GFRC New Purchases

Wednesday was a long day in the GFRC office as I worked from 6:00 am until 11:00pm with breaks for lunch, a visit to local Venice coin shop and quiet adult dinner since Natsumi went to bed early. The results are shown next.

First are the new purchases from Tuesday's central Florida roadtrip. Image quality is high and well represents hand selected silver and gold pieces for the GFRC community to consider. The new purchases are targeted for FUN show cases but some will probably be on hold after reaching the price list on Friday. Enjoy and please email with FRoRs (First Right of Refusal) or with questions.

GFRC New Purchases

Hand Selected Offerings Prior to FUN Show - FRoR Please

    

    

    

    

    

 

GFRC Consignment News

I'm pleased to report that the GFRC consignment engine is regaining momentum after November's Four Coin Show in Four Weekends event. The 30 day price list is up to 136 offerings and will probably reach 150 today. Consignments are pouring in again as everyone tries to catch the Tampa FUN show. As of today, I have the following consignments on hand and more committed to arrive immediately after Christmas holiday.

On Hand: Osprey Collection, Oregon Beaver Collection, Massachusetts Collection and Gansu Collection

Forthcoming: Another Oregon Beaver Collection shipment, Upstate New York Collection, Santa Fe Collection and of course, the second installment of the New Jersey Collection of Liberty Seated half dollars at the FUN show.

Below is the latest offerings from the Osprey Collection to consider. There have been priced and will reach the price list quickly after Dan's approval.

Osprey Collection Consignment - December 22, 2017

Quality Silver and Gold Coins to Consider

    

  

 

Global Financial News

Bitcoin has cracked while our old boring and reliable friend, gold, continues its slow upward movement! Yes, Bitcoin feel dramatically overnight and is quoted at $13,300 while spot gold moved up slightly to $1273/oz. Let's check in on Seeking Alpha headlines for the latest financial news.

Let's face it, speculation is driving Bitcoin prices (much of it from Asia) with major trading houses and futures exchanges going along for the money making ride.

Bitcoin fell as much as 20% to a low of $12,504 overnight, extending its loss from an intraday high this month toward 40% and on track for its worst week since 2013. Investors are having a "reality check," said some traders, while others commented that "a lot of the capital is flowing from bitcoin into alternative coins." There are also reports that the SEC's crackdown on cryptos is about to "get serious."

Goldman Sachs appears to be growing more comfortable with cryptocurrencies. The group is setting up a trading desk to make markets in digital currencies such as bitcoin, according to Bloomberg. Goldman aims to get the business running by the end of June, but it's still working out security issues and how it would hold the assets.

European Union separatist movements went quiet but are back in the news. Catalonia is still attempting to break away from Spain.

The euro dipped overnight, falling 0.5% to $1.1817, after Catalan separatists wanting to break away from Spain regained a slim majority in a regional election. "The overall impact is likely to be limited. Catalonia cannot become a sovereign state if no other country recognizes its independence. It won't even be able to have its own currency," said Yukio Ishizuki, currency strategist at Daiwa Securities.

Finally, nuclear power plant construction may be re-emerging in the United States.

Georgia's Public Service Commission has voted unanimously to allow Georgia Power to continue construction of Plant Vogtle's two nuclear reactors - the first in the nation since 1978 - following the March bankruptcy of developer Westinghouse. The decision will come as welcome news to the Trump administration, which has been trumpeting nuclear power as part of its all-of-the-above energy strategy.

Self driving vehicles is a much broader issue that most realize. For self driving cars to be a reality, the entire traffic system must be ugraded with electronic sensors and processors. Qualcomm is on the right track based on this headline and one of the few electronic design companies that can tackle this huge challenge.

Qualcomm has obtained a permit to test self-driving vehicles on public roads in California as the company expects to be "a key player in the autonomous space." In September, Qualcomm announced the 9150 C-V2X chipset, which lets cars communicate with other cars as well as infrastructure like traffic lights, and has begun field trials of Ford vehicles containing the chipsets in San Diego County.

 

Daily Featured Coins

Need a coin fix during the busy holiday season? Below is a sampling of the broad GFRC inventory that can be considered.

  

  

  

Ok, that is a wrap for today's Blog. Renee and husband-to-be Mike arrive this afternoon for time with family during the Christmas holiday. I will be loading as many coins as possible between now and their pickup at St. Petersburg airport later today.

Have a great day!

 

 

December 21, 2017

Good morning (to early readers) and welcome to the Daily Blog.

Since there are no new Client Galleries to share this morning, we open today's Blog with a personal tour of the GFRC Venice office. Long hours are spent each day enjoying the numismatic hobby and supporting the GFRC community in this office space.

While Dan White and I were on the road on Tuesday, Diane took the opportunity to hang my collection of late 1960s Herb Greene original prints. The prints were framed by Diane before she sold her retail Benjamin Moore paint and framing businss back in Windham, Maine. Moving forward, I have the pleasure of working with great coins each day and being accompanied by Grack Slick (with the Airplane), Janis Joplin (with Big Brother and the Holding Company), Jerry Garcia, Led Zeppelin and probably the greatest concert show promotor, Bill Graham.

Music is provided by a small Bluetooth Bose speaker and the stereo microscope comes in handy for checking surface conditions. The HP laser printer is the source for all Priority Box shipping labels. This office is where all consignments are evaluated, images processed and descriptions written. Not shown is the closet sized gun ammo safe were all coins are stored; you can use your imagination there.

GFRC Venice Office - Herb Greene Original Print Collection

 

GFRC Open Set Registry

As 2017 quickly comes to a close, let's take a look at the GFRC Open Set Registry that will celebrates its one year anniversary next week.

Participating collectors now totals 77 with 653 sets across a host of collecting objectives. Liberty Seated coinage and Type sets are by far the most popular and consistent with GFRC sales volume. I'm disappointed with Bust coinage participation, but then again, I'm not active in the JRCS simply due to lack of time and necessary attention to the Liberty Seated Collectors Club. The balance of the set categories have seen minimal participation and remain a challenge going into 2018.

Within the Liberty Seated realm, Half Dollars are the most active and competitive with Newtown, Seal Beach and Oregon Beaver each working hard to increase set quality and CAC %. All three sets are missing the challenging 1878-S date. Based on GFRC sales, I'm aware of many more Liberty Seated half dollar sets being constructed. One of the emerging set is the Seated Appalachians Halves which I expect will move into the Top 5 spot during early 2018. Seated Dimes are also popular with 21 registered sets for complete date and mintmark collections. The top of the leader board contains three sets that are very well developed and difficult to upgrade; Tom Bender, JF and Gerry Fortin. Of the three, my set is active with a goal of 90% CAC approval. Below the top 3 sets is a very active community including Newtown, Coulombe Family, Dr. Tim Cook, Dale Miller and Tombstone Joe.

Once I can coerce Matt to program the CAC Only sets, then more marketing can take place and hopefully incremental participation. Operating a niche coin business and supporting multiple programs with limited resources does take time, creativity and a long term perspective.

 

Increasing GFRC Commission Rates by 0.5% - Feedback

There was limited feedback on my proposal to increase GFRC commission rates by 0.5% starting February 1 for new consignments. Two consignors were supportive and quickly mentioned the following;

Absolutely 100% good with the increased rates. Well worth it.

Good idea about the proposed consignment percentage increase and it sounds like any added monies go right back into marketing. I learn much from your consignment model and that gives me some ideas for my appraisal company such as marketing to more state agencies, lawyers and civilians. Goes to show you, there's nothing constant but change.

The absence of negative feedback is a good thing. Therefore, I will be proceeding with the rate increase and will announce several more times in the Blog prior to February 1, 2018. My responsibility is to begin investigation CCE and the approach for loading coins on Collectors Corner.

 

Global Financial News

We open the day with commodity prices being flat to yesterday. However, Seeking Alpha headlines contains some solid must know headlines that the tabloid electronic media outlets will not cover. So let's jump right into the headlines.

Is the Bank of Japan being reckless at this point in time? The United States Federal Reserve is tightning interest rates while BOJ continues to print free money that ends up in the United States equity market.

The Bank of Japan is sticking to its aggressive monetary easing and offered no indication it was considering policy changes in 2018 at its two-day policy meeting. The BOJ will maintain its short-term interest rate at minus 0.1% and the target for the 10-year government bond yield at around zero as it expects inflation to "likely continue on an uptrend."

More pressure is mounting on low skilled jobs given the size of Walmart throughout the United States.

Walmart is experimenting with a cashier-less store concept called Project Kepler, which "aims to reimagine the in-store shopping experience with the help of technologies like computer vision," Recode reports. Walmart's (NYSE:WMT) initiative would operate without checkout lines or cashiers - in a similar fashion to the futuristic Amazon Go (NASDAQ:AMZN) store, which was announced a year ago but has yet to open to the public.

South Korea is solving its trade deficit problem with the United States by purchasing expensive military hardware.....

As tensions heat up on the Korean peninsula, Seoul is looking to buy an additional 20 Lockheed Martin F-35A stealth aircraft from the United States, in addition to 40 jets it agreed to buy in 2014, Joongang Ilbo reports. On Nov. 7, President Trump said, after his summit with President Moon Jae-in, that South Korea will be ordering "billions of dollars" of U.S. weapons.

North Korea is hard pressed for capital and now stealing Bitcoins.

North Korea's fingerprints are on the attack of Seoul-based crypto exchange Youbit, investigators told the WSJ. That state was also behind a hack of this same exchange (then operating under a different name) in April. "Much of the cryptocurrency system is highly vulnerable," said a cybersecurity expert. Bitcoin +0.5% to $16,538.

And finally, commercial space flight will become a reality in the next two years.

The battle to blast the first passengers into space has taken off. Jeff Ashby, director of safety and mission assurance for Jeff Bezos' Blue Origin, said the firm is now "a year out" from human flights. Richard Branson claimed in October he will travel to space on his Virgin Galactic craft within six months, while Elon Musk is soon expected to reveal the launch schedule for a manned version of the SpaceX Dragon capsule.

 

Daily Featured Coins

GFRC inventory continues to expand and is starting to rival larger competitors. As of this morning, there are 1549 coins on the price list with another 100 or more wanting to be processed and added. Next week, I will start discussing potential approaches for dealing with consignment inventory that has aged over two years. In the meantime, let's continue to feature quality coins towards locating new homes.

One of the focus areas in 2018 will be Barber coinage. My goal is to triple inventory size from the current 59 pieces (across dimes, quarters and halves) to over 150 pieces. I will be looking for several larger consignments towards accomplish this goal and gaining substantial sales traction for Barber coins. Here are some quality offerings from current inventory.

  

  

  

Thank you for stopping by and visiting with me today. Time for a 3 mile health walk followed by another day with Grace, Janis and Jerry processing coin images and posting more new purchases and consignments to the price list.

Wishing everyone a great day and do consider a holiday season coin purchase. I will be back tomorrow with more offerings. Please check back this evening for Osprey Collection consigned coins and new purchases from Tuesday's road trip.

 

 

 

December 20, 2017

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

Central Florida weather continues to be amazingly pleasant with Tuesday's highs in the low 80s. Mornings warm up quickly therefore the daily 3 mile walk is done immediately after completing the Blog. Southern migration, by northern snowbirds, continues with roadways becoming more crowded. The driving challenge is compounded by the various driving styles of Florida full and part time residents arriving from various northern states.

 

GFRC Florida Buying Trip - New Purchases

Dan White and I spent Tuesday driving through Central Florida on a buying trip. The Acura MDX performed well, at 25 mile per gallon, and was very comfortable. We drove several hours to visit with large wholesale dealer that GFRC previously sourced coins from at Summer FUN, Denver ANA and Whitman Baltimore. Building a solid supply chain is critical to evolving into a well known retail dealer. Offering quality coins at competitive pricing requires much searching and multiple sources. On Tuesday, Dan and I were on a mission to locate more CAC'ed United States gold as we see the market quickly evolving to stickered quality.

We arrived at our destination at 10:30am and spent over 2.5 hours carefully reviewing 8 double row slabbed boxes. The following pieces were purchases and will arrive to GFRC inventory by the weekend. The trip yield was low but the quality of the new inventory is high! Again, the GFRC philosophy is to purchase inventory one coin at a time. Each coin is evaluated for originality, marks, strike and accurate grading. Then competitive pricing is the imperative. During this visit, we rejected almost half of the initially selected coins as the asking prices just did not leave enough room for GFRC to make a profit. So here are the buying trip new purchases. My favorites are the 1803 Small 3 PCGS EF40 Draped Bust half followed by the 1838 Classic Head $5 and the 1882 $5 pieces.

Seated 5c: 1855 PCGS MS64 CAC frosty cartwheel luster, much better date than 1853-1853 with arrows

Seated 20c: 1875 PCGS EF40 CAC perfect type coin

Barber 25c: 1892-O PCGS MS65 old PCGS holder gem original with bold cartwheel luster

Draped Bust 50c: 1803 Small 3 PCGS EF40 choice original with conservative grading

Capped Bust 50c: 1834 O-109 NGC MS64+ CAC hammered strike, copper gray patina

Reeded Edge 50c: 1837 PCGS AU50 crusty original

Gold $1: 1849 Closed Wreath PCGS MS64; 1861 PCGS AU53; 1889 PCGS MS64+ CAC gem original with satiny luster

Gold $2.5: 1852 NGC AU58 CAC frosty cartwheel luster

Gold $5: 1838 Classic Head NGC AU58 so choice; 1851 PCGS AU58 CAC lightly mirrored with some orange gold patina; 1882 NGC MS64+ CAC with claims to MS65

 

Order Shipping Resumes Today

No orders were shipped on Tuesday due to quickly writing the day's Blog following by the long drive. Shipping will resume today as orders continue to arrive. Probably 70% of orders are shipped immediately as the GFRC customer becomes well known to me. These orders are shipped ahead of payment to repeat customers who issue payments quickly and reliably. This is another perk when dealing with me for your numismatic hobby needs.

 

Increasing GFRC Commission Rates by 0.5%

GFRC offers the most aggressive consignor commission rates in the numismatic industry due to diligent cost management. As mentioned previously, my years in the semiconductor industry had a profound impact on cost control and efficiency improvements. To successfully operate GFRC, there are three significant cost parameters that require constant management; coin show table fees and travel expenses, advertising and business insurance. Of the three, advertising is critical to increasing customer base size and the rate at which consigned coins will sell. Presently, GFRC has an allocated budget for advertising that is closely managed. During 2018, I believe it is in the best interest of GFRC consignors that we increase the advertising budget and target new platforms like Collectors Corner and several regional club publications, FUN for example.

To fund a larger advertising budget, I am proposing a 0.5% increase in commissions rates for coins priced at $100 and above. For example, a coin sold for $700 would see a modest commission rate increase from 9.0% to 9.5% or $3.50. A $2000 coin would see an additional commission of $10. When pooled together across a volume of 150+ coins sold per month, the monies become large enough to fund another marketing channel.

I've discussed the idea with Matt with the change easily implemented in the COIN system consistent with the following ground rules.

- Commission increases would be effective February 1 and only for new consignments.

- Existing consignments will continue to operating at the current commission rate.

- Selecting the February 1 date provides fair notice to current consignors as there are several committed consignments to be delivered at FUN. FUN consignments will continue at current commission rates.

This proposal is not taken lightly as no one wishes to pay higher commission rates. GFRC will not be pocketing the incremental gross margin but rather using the funds to expand marketing and the rate at which consigned coins are sold. How I wish to have full page ads in Coin World like larger competitors but that is just not possible at the current commission level.

Your feedback is appreciated.

 

Global Financial News

The United States tax cut and reform bill is the top highlight on every media outlet. Therefore I will not spent time on this topic and will focus on other issues throughout the globe. The day starts with crude oil at $57.75/bbl, gold continuing to inch up to $1269 and Bitcoin pulling back to $17425.

One topic that has not seen any new coverage is the subtle economic methods used by Chinese central government to punish South Korea for installation of THAAD. China has restricted citizens from traveling to South Korea as tourists and certain South Korea manufactured goods are subject to new or strict enforcement of import inspections. This is the classic Chinese approach of quietly punishing with defendable actions....the approach is well known as death by a 1000 small cuts.

South Korean equities sensitive to China relations slid overnight after JoongAng Ilbo reported that Beijing restored a ban on mainland tour groups traveling to South Korea. Those so-called THAAD-related stocks - named after the anti-missile system - include a range of retail, airline and hospitality shares. The ban comes just over a month before the 2018 Pyeongchang Winter Olympics being hosted by Seoul.

The Chinese state controlled power sector is one of the dirtest polluters in the world due to burning coal without emission controls. My days in Jilin city (2003-2004) during the winter months saw terrible evening coal pollution inversion layers (fog) and winter snows turning black due to air borne coal dust precipitating from the air and onto the ground. The Beijing Central government is taking steps towards financing the conversion to cleaner coal burning technologies.

China is planning to start a giant market to trade credits for the right to emit greenhouse gases. The program would initially cover the nation's state-dominated power generation sector, which produced almost half of the country’s emissions from burning fossil fuels last year. If it works as intended, Chinese power companies would have a financial incentive to operate more cleanly.

Saudi Arabia continues to undergo a substantial economic transition while battling Iran funded Yemen civil war that is now expanding into the homeland.

Looking to drag the economy out of recession, Saudi Arabia has unveiled its largest budget ever, forecasting expenditure to hit more than 978B riyals ($261B) in 2018. The news comes as Saudi air defenses intercepted another rocket fired toward Riyadh by Houthi fighters in Yemen, which declared a "new chapter" in their confrontation with the Kingdom.

 

Featured Coins of Day

There are now 11 days left during 2017. I'm pleased to report that GFRC has grown its sales revenues beyond that of 2016 and hope to have one final sales push to wrap up the year. I've work hard towards expanding GFRC visibility in the numismatic industry and growing inventory. Following are some quality offerings to consider on the Wednesday before Xmas. Order made today will be shipped by 4:00 pm today (when Mack the Mailman arrives) to those customers who are well known to me.

  

  

  

Thank you for stopping by the Blog as part of your morning reading. I'm off for a fast paced health walk, then will be in the office for the balance of the day handling shipping, new orders and loading the Copper Harbor large cents onto the price lists. Then there is photography of yesterday's new purchases if sunshine conditions are suitable.

Have a great day!

 

 

December 19, 2017

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

Today's edition will be brief and published early since GFRC is visiting with a major Florida numismatic dealer, during the morning hours, towards improving GFRC inventory prior to the FUN show. It is also a chance to take the Acura MDX for a long drive and catch up with my friend, Dan White.

GFRC business remains steady going into the Christmas and New Year holidays. Quality offerings, those hand selected and purchased by GFRC, continue to sell well along with recent consignments. It would be "icing on the GFRC cake", if someone would step forward towards purchasing the 1855-S NGC AU58 CAC half dollar from the New Jersey Collection. Reasonable offers would be considered and discussed with the consignor.

 

GFRC Consignment News

Copper Harbor Collection

As promised in yesterday's Blog, the Copper Harbor Collection of large cents is illustrated below as a client gallery and will be posted to the price list on Wednesday. As with other Copper Harbor Collection offerings, these pieces have been off the market for several decades. In particular, this large cent lot arrived to the GFRC in raw condition and housed in Stack's flips. The lot was purchased from Frank Van Valen as a direct sale rather than auction. GFRC handled the PCGS grading and is now offering the pieces individually. Sales proceeds will be used, by the consignor, to continue building up his Liberty Seated dime date/mintmark set.

Please consider the following pieces as they will be priced fairly. All pieces were graded between AU53 and MS62BN with most being AU58 and MS62BN. There are several Details graded piece with the 1847 being obvious from the images. Speaking of GFRC images, they are not consistent with my silver coinage capabilities therefore detailed descriptions will be written to explain surface conditions and luster. FRoRs will be accepted for this fresh offering.

Copper Harbor Collection Consignment - December 18, 2017

Large Cents - All PCGS Graded AU or Mint State

    

    

    

    

  

 

From the GFRC Email Inbox

In Monday's Blog, I posted the following email commentary on mintage for 1851-O Liberty Seated dimes.

Hi. I believe the stated mintage of the 1851-O dime is an error. In fact, only 40,000 dimes were struck since only one die pair has been found; not 400,000. An extra zero was added to mint records! This would make sense because 40,000 is an even number.

Jim Laughlin, a long time LSCC member, numismatic historian and E-Gobrecht writer, responded to the question and replied with the following commentary.

Gerry,

Today's blog made reference that one your customers had sought your opinion on whether the reported 400,000 dime for New Orleans in 1851 appeared correct, suggesting 40,000 might be more plausible.

While I have only come across 4 monthly mintage reports in the period newspaper for New Orleans, 1851, I have found that at least 150,000 dimes were reported made during those particular 4 months. With 8 more months yet to be found, I suspect eventually the missing 250,000 will show up. My problem has been that few 1851 period newspapers have been scanned and digitized, and therefore made available for free viewing and searching via the Internet. Somewhere in the National Archives, no doubt, are the original monthly reports from New Orleans for the period that were mailed to Philadelphia.

No dimes were reported minted in January, 1851; 70,000 minted in April; 80,000 minted in June; a New York newspaper reported no coinage for New Orleans during September, due to repairs to machinery.

Jim

 

Global Financial News

There is little of interest in this morning's Seeking Alpha headlines. Gold is slowly recovering ground at $1266 while Bitcoin dropped back to $18,196.

 

Featured Coins of Day

We wrap up today's Blog with more quality GFRC offerings. It has been awhile since the spot light was on Liberty Seated quarters so let's showcase Type II design pieces with CAC approval that are looking for a new home in an advanced collection.

  

  

  

OK, Dan White has just arrived and time to start another GFRC adventure towards locating quality offerings for the upcoming FUN show. I'm most serious about the GFRC business and being one of the top industry sources for high quality early type pieces at affordable prices. To achieve that reputation, considerable effort is involved as every coin is evaluated and purchased one piece at a time.