Gerry's Daily Blog

January 17, 2017

A Preview

Grey Soldier Collection Consignment - January 17, 2017

    

   

 

 

January 16, 2017

Greetings on a Monday morning and Martin Luther King national holiday.

A fairly strong ship day was planned for today but realization that the Post Service is closed set in during the weekend. Those with outgoing package will see their USPS email notice today with physical shipment moving into the USPS system on Tuesday morning.

Liberty Seated Dime Variety Web-Book Updates

Sunday was a back to collector roots day as spent considerable time on Seated dime die variety attributions. The subjects were the 1849-O rotated reverses, 1850 unlisted specimen on price list and 1875-S with reverse cud. Attributions are resulting in web-book updates as follows;

1849-O F-103ad

The F-103a die pairing (lapped obverse die) with multiple rotated reverse positions is documented in the web-book. I've simplified the listing nomenclature with F-103ab, F-103ac and F-103ad being used for the three different rotated reverse. This web-book update is complete. The F-103ad plate coin is not for sale.

1850 F-108a

Attribution of the 1850 F-108a die state is an important breaking news situation and solves one of the 1850 Philadelpha strike puzzles that has been bothering me for years. The following 1850 NGC MS63 dime on the GFRC price list was purchased by a customer under the condition that I complete the variety attribution. Obverse 6 is straightforward to attribute due to an easy to recognize die crack through the lower date digits. However, the reverse was clearly unlisted during inspection for price list posting.

1850 F-108a - Interim Reverse Die State Discovery

Placing the reverse under a stereo microscope, on Sunday, revealed die cracks that were difficult to catch with a 10x loop. Those die cracks are the same as the 1850 F-111 listing in the web-book. When preparing the web-book during 2002-2003 timeframe, the following was stated;

Obverse 8 is paired with a heavily cracked reverse die. Please see the enhanced mapping of the Reverse I die cracks. Undoubtedly, this reverse die has seen previous usage by the mint. However I have not been able to identify any earlier die pairing where the cracking had begun to appear. The pairing of Obverse 8 and Reverse I was described in a 1984 issue of the Gobrecht Journal by John McCloskey from a Seated dime made available by Bill Carpenter.

We finally can say with certainty that the above cracked die is a terminal die state of Reverse F rather than being listed as Reverse I. The GFRC 1850 NGC MS63 specimen will be posted in the web-book as F-108a (Reverse F.2) and the F-111 listing will be corrected with reverse die designation of Reverse F.3. Attribution of the GFRC 1850 dime in inventory finally solved the puzzle!

1875-S Below Wreath F-123

I studied the 1875-S Below Wreath dime with lower left reverse die cud (posted in Daily Blog on January 15) and reached the conclusion of a new die pair. The obverse has a tiny abnormality to the left of the scroll that could a misplaced 1 digit while the reverse mintmark position does not match those listed to date. This piece will be listed as F-123 in the web-book.

GFRC Open Registry Community Project Update

If not busy enough on Sunday with Seated dime die variety attributions, the definitions of a 50 piece early silver commemorative type set and 11 piece early gold commemorative type set were completed and forwarded to Matt for review. Matt is checking and once approved, three new Open Registry sets will be made available under a Commemorative tab as follows;

- 50 Piece United States Silver Commemorative Type Set

- 11 Piece United States Gold Commemorative Set

- 61 Piece Combined United States Commemorative Set

I'm looking forward to having Shanghai and Beijing based customers as part of the Open Registry.

GFRC New Consignment Galleries

Ft. Lauderdale Collection

Rather than watch the Pittsburgh - Kansas City AFL playoff game, time was allocated to catching up on residual consignments that arrived at the FUN show. We open with a quality consignment from the Ft. Laudersale collection. At the FUN show, I had an opportunity to meet this individual in person and enjoyed a long chat. Our backgrounds are similar (engineering in high tech industries) which allows the exploration of variety topics outside of numismatic. This young man has a keen eye for originality and enjoys searching out Capped Bust and Seated type coins. I'm in love with the 1835 Capped Bust quarter graded PCGS EF45 and the 1839 Reed Edge half graded PCGS EF45 is also choice for the grade.

Ft. Lauderdale Collection Consignment - January 16, 2017

    

Unnamed Collection

A long time GFRC consignor, who wishes to remain anonymous, sent along the following duplicate coins in the hopes of locating new owners. Please check this Client Gallery carefully as the first two offerings are challenging 1858-S PCGS EF45 and 1859-S PCGS VF30 dimes in older blue label holders followed by a infrequently seen higher grade 1856-S Seated quarter and lovely 1862-S quarter graded PCGS VF25. These should be reaching the price list by Wednesday.

Unnamed Collection Consignment - January 16, 2017

    

  

Global Financial News

More newsletters are starting to worry about a stock market swoon in the next 30-60 days. The Dow has attempted to break the 20,000 without luck and the overt warfare between Democrats and an unconventional Trump administration is scaring many investors. I will try to touch upon this subject in the upcoming days. There are obvious economic indicators that the market is over valued with the Trump election rally starting to lose momentum.

Featured Coins of the Day

GFRC has enjoyed strong sales during the first half of January. Now the challenge is to maintain that momentum during the balance of the month and meeting the 2017 annual forecast. Yes, GFRC operates like a large corporation with monthly sales and gross profit goals. Since GFRC continues to invest in new product lines and Information Technology development, these initiatives must be funded out of gross profits.

Your ongoing purchases are appreciated, but more importantly, your referrals to other potential customers are critical. The United States numismatic hobby is vaste and only a small subset are aware of the GFRC business model and commitment to quality offerings and collector education.

Following are some random quality GFRC offerings to close out today's Daily Blog. Thank you for visiting with me this morning. Have a great MLK holiday!

  

  

  

 

 

January 15, 2017

Welcome to the Daily Blog on a Sunday morning.

January 15th is always a special day for the Fortins as Matt's birthday. Our well wishes go out to Matt and his many adventures in Beijing.

GFRC and the collecting community are blessed to have Matt information technology development support. For example, in just a little over three weeks, the Open Registry Community Project is closing in on 250 sets and nearly 40 participants. I've always believed that simplicity and efficiency are beautiful in the context of large initiatives. Matt possesses that important skill for distilling complexity down to core features as we've seen with COIN and now, Open Registry. Happy Birthday from your Dad and thank you for all you do for GFRC and the numismatic community.

New Liberty Seated Dime Variety/Die State Discoveries

We open the Daily Blog with two cool die variety/die state discoveries that arrived at the FUN show. Yes, these were submitted by the same individual who consigned the major Seated dime die varieties featured in the January 13th Blog. During his year's of successfully cherry picking varieties, consistent with the Liberty Seated Dime web-book, this individual located his own discoveries and is now sharing with our community.

The first important discovery is another reverse die misalignment position for the F-103 die pair. For those not being Seated dime variety junkies, F-103 catalogs a 1849-O die pair with weak date obverse and small O reverse. The obverse die is lapped between F-103 and F-103a die states with the F-103b die state capturing different reverse die misalignment in the minting press. I'm renaming all the F-103a rotated reverses with designations F-103a, F-103ab, F-103ac and now F-103ad. Prior to the FUN show, these three reverse die positions were known.

F-103a (Normal Coin Turn)                            F-103ab (85 Degrees Left)                          F-103ac (105 Degrees Left)

    

Now a third rotated reverse position has been identified at 65 degrees left. The discovery of additional rotated reverse position indicates that the reverse die (hammer die) was not properly configured in the New Orleans minting press and rotated during a portion of the F-103a die state strikes.

New 1849-O F-103ad Reverse Die Rotation Discovery - 65 Degrees Left

 

The same individual also submitted the following 1875 San Francisco Below Wreath strike with a lower reverse rim cud for the web-book. I've not had time to attribute this piece but will do so today and report back on Monday.

1875-S Below Wreath Dime with Lower Reverse Rim Cud

 

GFRC News

The Early United States Commemorative price list received a shot of new inventory on Saturday. All FUN purchases are now imaged, priced and available. I'm also working on an additional deal to secure Lafayette, Columbia and Cleveland pieces.

It seems that every day brings email or phone calls to discuss new consignment possibilites. Yesterday brought a discussion concerning 1855-S Seated Quarter (ANACS AU58) and 1855-S Seated Half (PCGS AU50 CAC) pieces as an example. Both are strong four figure coins for those with serious collections.

What can GFRC customers expect today? Two smaller consignments remain from the FUN show (Ft. Lauderdale) and an unnamed. Images were processed in Saturday evening and there is a good chance these new offerings will be featured in a Client Galley on Monday morning. Then it is onward to the new Grey Solder consignment and relisting the many GFRC coins returned from PCGS. Included in the submission is the following nice lot of Indian 1c peices that were left over from the Maine Collection brought to market during late 2015. If you remember, the Maine Collection coins were all stored in Wayte Raymond holders and in an Auburn, Maine bank vault since 1965. These are the balance of the Indian cents from that collection.

Flying Eagle 1c: 1858 Small Letter PCGS EF40; 1858 Large Letter PCGS EF40...a nicely matched pair.

Indian 1c: 1864 Bronze PCGS AU53; 1879 PCGS AU50; 1882 PCGS MS62BN; 1887 PCGS MS62BN; 1888 PCGS MS62BN; 1891 PCGS MS63BN; 1909 PCGS MS64BN...all are nicely matched and would be a great starter lot for complete Indian cent collection.

Consignments Wanted!

Several weeks remain in January and the existing GFRC consignment backlog should be easily absorbed in that timeframe. Come early Februrary, GFRC will have the bandwidth to take on several larger consignments going into the Whitman Baltimore and Central States shows. What do I consider a larger consignment to be? Probably 40 or more coins in a single lot consistent with the Pleez B Seated and Saw Mill Run Collections that were handled in late 2016. Following are possibilities that would compliment the GFRC business and probably launch a few more Open Registry sets.

- Early Silver United State Commemoratives

- Barber Coinage Collections

- Liberty Seated Coinage - All Denominations and Varieties!

- Capped Bust Coinage - All Denominations with priority for Half Dimes and Dimes

- United States Gold

Featured Coins of the Day

Today's Feature Coins spotlight shifts to Barber quarters. The quarter denomination has always been the workhorse for United States commerce. Seated quarters circulated heavily with low mintages and survival rates. Barber quarters also saw much circulation and locating choice and gem AU and mint state examples is not straight forward. I will add superior Barber quarters to inventory whenever the opportunity presents itself. Actually, two of the raw Barber quarters on GFRC price list were in the PCGS submission and graded exactly at my raw grade designation.

  

  

  

Thank you for making a Daily Blog visit a part of your Sunday morning. It is close to 8:30am and time to publish today's edition. Have a great Sunday and MLK Day for those with Monday as a time off holiday. I will be back tomorrow....you can count it!

 

 

January 14, 2017

Greetings on a Saturday morning and thank you for visiting the Daily Blog. I'm glad to see that everyone survived Friday the 13th....

New coins are arriving to the GFRC office on a daily basis and it is challenging to keep up along with start up support for the Open Registry. Your patience is requested as each new consignment is assigned a processing position in the queue.

Rumors of slow PCGS processing times are true. I submitted a 46 piece Economy lot at the November Baltimore show (beginning of November) and received the graded coins yesterday. So approximately 2.5 months but in all fairness, there were the Thanksgiving, Christmas and New Year holidays in the timeframe. There are new purchases in this lot along with a substantial number of currently listed GFRC raw coins that were holdered to speed up sales. Grading results were quite consistent with my raw grade designations. Raw coins that are now slabbed will be relisted on the 30 Day price list to raise awareness. More customers are indicating that slabbing is a requirement for purchase these days and if GFRC will not conduct the slabbing, then individual refuse to purchase raw. So be it as GFRC will only conduct submission at major shows and as a large Economy lot to save costs.

GFRC New Consignments

Grey Soldier Collection

Grey Soldier is back with a new consignment of Liberty Seated half dimes. This wonderful friend responded to my plea for incremental Seated half dime inventory after strong FUN show sales. He visited the bank box and sent along the following top quality pieces with shattered dies and, in the case of the 1843, bold repunched date. As usual, FRoR is in order. Thank you so much Grey Soldier for sharing these wonderful varieties/die states with GFRC customers!

Seated 5c: 1837 Large Date PCGS MS63 shattered obverse, 1840 No Drapery NGC MS64 a gem with vertical bisecting obverse die crack; 1843 PCGS AU55 bold RPD choice original; 1848-O PCGS MS63 CAC so choice with frosty luster; 1871-S PCGS MS62 CAC frosty luster with cracked reverse

Warnerville Collection

New consignors continue to join the GFRC Trading Desk. Several days ago, a first time consignment arrived from existing GFRC customer. The motive is typical; selling pieces that are not central to new collecting goals. More and more collectors are feeling comfortable with the GFRC Trading Desk for disposing of their unwanted coins and I'm grateful for being the conduit. Following are the offerings from the Warnerville Collection.

Seated 50c: 1845-O WB-12 R4 NGC EF45 very early reverse G die state; 1854-O NGC MS61 choice frosty original luster; 1856-O NGC AU53 blast white; 1871 ANACS AU50 OWH pretty gun metal gray blue patina with few stray obverse lines

Morgan $1 Toner: 1879-S PCGS MS64 CAC Rev 1878 dual sided toned gem

Gold $2.5: 1856-S NGC AU53 accurately graded

Ft. Lauderdale Collection

Consignments arrive to the GFRC office on a regular basis, but on occassion, a coin arrives and literally stops me in my tracks due to absolutely superior eye appeal. The Ft. Lauderdale Collection consignor dropped off a new lot of freshly graded coins at the FUN show and this 1835 Capped Bust quarter is in that lot. I believe this piece is so darn attractive that a special higher resolution image preview is in order. Don't you just love the crusty original eye appeal? This one resides in PCGS EF45 holder...... definitely a CAC candidate!

 

GFRC Early Commemoratives Product Line

As mentioned in prior Daily Blogs, GFRC is expanding its United States Early Silver Commemorative inventory for the China customer base. My pleas for a large consignment failed to attract a submission, therefore I started carefully buying inventory at the FUN show. Below is an initial group of decent offerings to populate the Early Commemorative price list. Look for these to be priced and online by Sunday.

FUN Show New Purchases - January 14, 2017

    

    

    

    

Featured Coins of the Day

Ok, let's wrap up today's Blog with some featured coins from the Capped Bust Half dollar price list. GFRC may not be the top seller of Capped Bust halves but overall quality is well above average...... Please consider a purchase!

  

  

  

Wishing loyal Daily Blog readers a great numismatic weekend!

 

 

January 13, 2017

Oh Boy....has anyone noticed that today is Friday the 13th? Let's hope that Daily Blog readers are not superstitious.

Jeff Beck Group - Truth

But to mark the occassion, I immediately started the morning by playing Ain't Superstitious YouKu video featuring the original 1968 Jeff Beck Group recording from their debut album Truth. This classic song has been recorded by a host of other artists including The Grateful Dead and Santana. But only Howling Wolf (original 1961 recording) and the Jeff Beck Group (Jeff Beck and Rod Stewart) have rightful ownership claims..... To start your Friday the 13th, here is YouKu video link with enough black cats and howling dogs for the day.

GFRC Open Registry Community Project

The Open Registry continues to grow in popularity as set count stands at 232 with 32 collectors participating. Obviously, Liberty Seated coinage sets are dominating the Registry, at the moment, but more sets are in the definition phase. My goal for 500 sets by the end of 2017 should be easily achieved.

Matt released an Excel worksheet for new set definition. In true Matt form, the worksheet is simplistic and efficient. Already Osprey will be starting to use the template for defining United States gold type sets and I will attempt the early United States silver commemorative set this weekend.

A new Open Registry user asked an important question on Thursday.... How does one delete an erroneous entry from the registry? Answer: Remove any content including image link and comments and then make the grade selection a blank (very top of the selection box). This will delete the entry.

GFRC Consignment Update

Within two of the Daily Blogs issued during the FUN show, I made mention of important consignments that included Liberty Seated Dime variety rarities. Diehard variety collectors were rushing for FRoR on these pieces and have been asking about their status ever since. Last evening was spent processing images to treat everyone to this major release of key Seated dime varieties. These are all R6 or better pieces and I'm unable to remember a time when so many appeared at once. One consignor spent years searching these out and finally decided to "cash them in" for other collecting objectives.

So you know, pricing HAS NOT been settled with the consignors as of this morning. Images were processed to wet everyone's appetite while pricing discussions are initiated with the two consignors today. Enjoy......

Major Liberty Seated Dime Varieties Consignments - January 13, 2017

    

    

Global Financial News

Spot gold is holding recent gains and is being quoted at $1198 to start the day. Crude oil has given up some gains after OPEC and non-OPEC producers reached production cut agreement. Seeking Alpha headlines are interesting this morning and let's review several. We open with China slowing economy; a topic that should dominate news this year as global exports continue to drop under ongoing pressure from Trump.

China's massive export engine sputtered for the second year in a row in 2016, with shipments dropping in the face of persistently weak global demand. Exports fell 7.7% and imports declined 5.5%, resulting in an annual trade surplus of $510B, below the $594.5B trade surplus in 2015. It may also be tough for trade this year, with President-elect Donald Trump vowing to brand Beijing a currency manipulator and threatening to slap high tariffs on Chinese goods.

Recently Fiat-Chrysler announced the construction of a new automobile plant in the United States. Now this.....NBC News and CNN love this type of stuff.

Building on yesterday's 10% plunge, shares of Fiat Chrysler are down 3% premarket, after the EPA accused the automaker of using software to allow excess diesel emissions. The notice affects over 100K cars, including trucks and SUVs, and the maximum fine that could be imposed would total $4.6B. CEO Sergio Marchionne called the regulator "belligerent" and said if anyone believed the allegation, then "they had been smoking something."

This one fails into the category of never believing this would be possible as all electronics manufacturing is done in Asia, right? Maybe that Trump phone call with Taiwan's newly elected president, Dr. Tsai Ing-wen is paying off?

With President-elect Donald Trump pushing for American manufacturing, Taiwan's Foxconn and its Japanese subsidiary Sharp are studying the possibility of building an LCD plant in the United States. The plan is "on the table," a company executive told Nikkei. "We will make a decision carefully." Foxconn, a major producer for Apple, is also considering iPhone production in the U.S.

Featured Coins of the Day

With Osprey working on United States gold types sets for the Open Registry, how about some attractive type gold for this morning's Featured Coins? Spot gold is recovering and now maybe the ideal time to take a small position in the precious metal via a numismatic purchase. Yes, I am aware that the 1914-D G$2.5 Indian graded PCGS MS64+ CAC is not a type coin...... I just could not help myself when selecting images.

  

  

  

So ends the Daily Blog on January 13th. Wishing everyone lots of good fortune today and hopefully, a reciprocating GFRC coin purchase! Thank you for stopping by.

 

January 12, 2017

Greetings on a Thursday morning as January races forwards to the half way mark.

GFRC Coin Show Planning

Coin show planning for the first half of 2017 is an immediate priority to ensure acceptable arrangements. Already the GFRC staff is scheduling travel for the Whitman Baltimore show in late March and the Central States Shaumburg IL show in late April along with a potential trip to Shanghai the middle of that month. The Shanghai trip would be an exclusive GFRC Shanghai weekend show and educational seminar at a hotel meeting center.

I'm also pleased to announce that GFRC has secured a corner table at the Sarasota Coin Show on February 24 - 27. This growing show is held at the Municipal Auditorium near the bridge to St. Armands Cirle. GFRC is planning to have 8 cases of quality inventory consistent with that displayed at the Ft. Lauderdale FUN show.

What about the ANA National Money Show in Orlando on March 9 - 11? I've still not committed on a show table but will be walking the bourse floor as a vest pocket dealer and buyer. Since exhibiting at Sarasota just two weeks earlier, I'm questioning the payback for setting up at the ANA show that is only 2 hours away from Sarasota and typically does not draw national attendance. The ANA does not bus local coin club members to their Florida shows as FUN does therefore walking the bourse may be the better GFRC option.

GFRC FUN New Purchases

Astute GFRC customers are realizing my strategy for marketing new purchases and are becoming accustomed to visiting the Daily Blog twice a day. By 8:30am, the "regular" Daily Blog edition is published and then towards the end of the day (typically by 10:00pm), the next day's postings of new purchases and consignment Client Galleries are featured on a "preview" basis. The Massachusetts Collection consignor is well aware of this strategy and texted me slightly after midnight to grab the gem 1855 PCGS MS63 Seated dime in the below gallery.

Below are more exciting FUN show new purchases to consider with the 1832 Capped Bust and 1855 dimes already on hold. Please note the opening coin; an 1865 Seated half dime graded PCGS VF35 with Childs Collection pedigree that should be on many want lists. The 1849-O F-102 and 1856 F-111 dimes are also quite special offerings to consider. For larger denominations, the gallery contains several exciting Seated halves including 1861-O PCGS AU50 CAC, 1866-S No Motto PCGS EF40 and an 1870-S PCGS EF40 CAC examples. Attributions for the 1861-O (W-7 LA Strike) and 1870-S will be done after publishing the Blog. We close with a beautiful 1926 toner Morgan Peace dollar that has bold luster and vivid coloring that is 100% natural.

GFRC FUN Show New Purchases - January 12, 2017

    

    

    

  

 

Numismatic Book Review: A Register of Liberty Seated Half Dollar Varieties - Volume V - Philadelphia Mint 1839 to 1852

A shipment of books arrived from Bill Bugert yesterday that includes five copies of Bill's latest Liberty Seated half dollar variety thome for Philadelphia mint struck pieces.

Having prior experience with researching Liberty Seated dimes struck at the Philadelphia mint gives me the insight into the amount of time and effort it has taken to prepare this amazing Volume V within Bill Bugert's research series entitled, A Register of Liberty Seated Half Varieties. In the previous Volumes I through IV, Bill shared an in depth analysis of die varieties for the San Francisco, Carson City and New Orlean struck halves. Now he has moved on to the Philadelphia mint which presents an even greater challenge due to the lack of mintmarks. Separating Philadelphia die varieties requires a keen attention to date punch placement and die cracks to identify and catalog the various dies.

Bugert's latest thome is simply a masterpiece in research and useful presentation format. This 436 page book covers the Philadelphia period from 1839 through 1852. Owners of Bill's prior books will be incredible pleased with this offering. The opening section contains concise discussions on Design Types, Logotype Styles, Device Naming Conventions, Date Grid Measurements, Edge Reeding and Counting, Emission Sequence and Rarity Ratings. Then the fun really starts...... Bill utilizes full page date punch position layouts to provide a quick look up guide when attempting to attribution Philadelphia struck examples. Even more impressive are the Half Dollar Reverse Die Crack Diagrams that make attributing a Philadelphia strike so easy. If there are reverse die cracks on the Seated half dollar being attributed, then Bill's book simplifies the process and time taken for attribution. Image quality continues to improve with those in the Philadelphia Register being cystal clear for further attribution ease.

In summary, if I ever considered taking my own Liberty Seated Dime variety web-book to paper, I would want it to be presented in the same exact format and quality as Bill Bugert's Philadelphia Register. This thome is a must have for your numismatic library and should sell out quickly. This is why I've order extra copies for myself and GFRC customers.

Global Financial News

Spot gold pierced the $1200/oz level overnight and is currently quoted at $1204. The $1200 is a psychological barrier for many investors in the yellow precious metal and hopefully will translate into renew United States gold coin sales at GFRC. What is behind the upward move? Let's check Seeking Alpha headlines for clues.

The U.S. dollar is weakening as global financial markets remain uneasy about Trump's upcoming fiscal policies.

The U.S. dollar nursed widespread losses overnight after President-elect Donald Trump's long-awaited press conference provided little clarity on future fiscal policies. Most of the discussion centered on Russia and his potential conflicts of interest, but the defense and healthcare sectors ended the day in the red after some notable mentions. Trump again criticized the cost of Lockheed Martin's F-35 program and argued the drug industry is "getting away with murder" by overcharging for medicines.

For all the talk in the financial press that the Euro would reach parity with the U.S. Dollar due to European economic difficulties, the beginning of 2017 news is positive concerning Germany's economic growth and Brexit risks.

German economic growth accelerated more than analysts forecast last year to its fastest pace since 2011, as falling unemployment and record-low interest rates boosted spending. According to the Federal Statistics Office, GDP growth rose 1.9%, after a gain of 1.7% the previous year. Germany is the first of the world's biggest developed economies to provide preliminary GDP data for 2016.

Brexit is no longer the biggest single risk to Britain's financial stability, according to Bank of England governor Mark Carney. "In the run up to the referendum, we felt it was the largest risk because there were things that could have happened which had financial stability implications... Actions were taken to mitigate that, but having got through the day after, the scale of the immediate risks has gone down."

Featured Coins of the Day

After being fairly quiet during the second half of 2016, Liberty Seated dime demand is growing as a result of the Open Registry Community Project. Following are some recommended offerings across all grade levels. GFRC currently has an incredible stock of later date dimes in MS62 through MS66 collector grades.

  

  

  

Thank you for visiting with me at the Daily Blog! It is time to move into the packing and shipping department as Osprey will be visiting the GFRC office this afternoon. I will be back on Friday morning with more new coins and regular ramblings. Have a great day!

 

January 11, 2017

Welcome to the Daily Blog on a Wednesday morning.

Venice Florida weather returns to above average temperatures for the balance of the week with highs in the mid to upper 70s. Unfortunately, there is no rain in the forecast. Local lakes and ponds are several feet below normal levels and require extended rains to recover.

If not busy enough with GFRC business and post FUN show activities, two Auburn Lakes Condo Association board meetings took place since returning from the FUN show. Those are behind me, for the time being, and full attention can be placed on loading a substantial amount of new coins to the price list.

GFRC Open Registry Community Project

I'm pleased to report that the Open Registry set total stands at 217 with 28 participating collectors. We've easily exceeded the old system set total with expectations for 500 sets by the end of 2017. Osprey continues to work on United States gold type definitions and I will probably prepare a United States early commemorative set so that Chinese customors can participate in the Open Registry.

Liberty Seated Half Dollar Sets Available

Matt and Bill Bugert completed the Liberty Seated half dollar set fine tuning yesterday. Collectors are therefore invited to start loading their half dollar sets in the Basic, Top 100 and Ultimate categories. Based on the GFRC client base and ongoing Seated half dollar sales, I'm aware of many collectors of this denomination and hope for a strong participation rate.

GFRC Consignment News

Progress is at hand for posting consignments that arrived immediately before and during the FUN show. Below are two consignments with excellent offerings.

The Peak Collection consignment includes three Liberty Seated Dollars, all graded PCGS AU58 and residing in older blue label holders. These pieces are already loaded onto the price list with full descriptions being complete today. All are accurately graded with ample luster and eye appeal. The 1847 example achieved a choice quality rating and is my favorite of the three due to bold luster and just a trace of rub. If in the market for a quality Seated dollar for type set, then please consider one of this lovely selection from the Peak Collection.

Peak Collection Consignment - January 11, 2017

    

At the FUN show, a collector of superb gem grade level type coins approached GFRC for handling his duplicates pieces. This is a market area where GFRC wishes to start participating including the possibility of sales to advanced Chinese collectors. Handling close to top population 20th century type coins well complements the existing Liberty Seated and Capped Bust product lines. Below are the initial three offerings, all graded PCGS PR67 and approved by CAC. A collection name will be defined with the consignor today. The lone Buffalo and two Mercury dime proofs are a joy to inspect and view.

Winesteven Collection Consignment - January 11, 2017

    

Featured Article: Mauldin Economics - We’re All Low-Skilled Workers Now

The global community continues to be blessed (or maybe cursed) by constant developments in high technology. Semiconductor integration continues to race forward with unimaginable computing power on a single piece of silicon. Armed with incredible amounts of computing power, software developers are free to explore in the Artificial Intelligence (AI) realm. Science fiction is beginning to meet reality and once innovations are unleased and implemented as commercial products, there will be further impacts to society and the job market.

Patrick Watson, of Mauldin Economics, has published an article entitled We're All Low Skilled Workers Now that I recommend as a quick read when time allows.

The term "Low Skilled Workers" traditionally brings to mind those in the workforce who may only have a high school degree. However, with rapid developments in technology, many individuals with college bachelor degrees are also finding themselves with inadequate skills sets for the ever evolving employment market. With AI developments starting to become reality, white collar skills sets (knowledge workers) and employment will be impacted and also moved into the Low Skilled Worker category.

This article offers its important content on AI towards the end of the article. Here are a few points to wet your appetite.....

The trend toward AI replacing humans in the workplace is not some sci-fi fantasy anymore. Nor is it just affecting factory jobs. The technology to replace highly skilled white-collar workers exists right now… and an iconic American company will happily sell it to your boss tomorrow.

Starting this month, Fukoku will replace 34 claim adjusters with IBM’s Watson artificial intelligence technology (no relation to me). Turns out the AI system reads and evaluates medical documents and other information faster and better than humans can.

Featured Coins of the Day

Since the Liberty Seated half dollar denomination is available in the Open Registry, how about a few lovely EF-AU halves to close out today's Daily Blog. Seated halves are, by far, the most popular Seated denomination due to size and availability.

  

  

  

Thanks for stopping by this morning and do please check back later in the day as more FUN show new purchases and consignments will be loaded into the Blog on a preview basis. Have a great day!

 

 

January 10, 2017

Greetings on a quiet Tuesday morning and thank you for visiting the Daily Blog.

Today's edition features the beginning of many new consignment postings along with FUN show purchases.

Before getting started, a sincere thank you goes out to everyone who visited the GFRC table at the FUN show and also to those who stopped me on the bourse floor to indicate being Daily Blog fans. Writing the Blog on a continuous basis is not an easy task. There are mornings when fresh topics quickly arises while other days bring a mental struggle to assemble a series of coherent thoughts that deserve attention. When the latter is the case, a visit to the Seth Godin blog for inspiration is often done. Today's Seth Godin offering named "Entitlement is optional" has close parallels with my own philosophy on life and may explain the need to write the Blog each day. Godin's blog is a gem and worth reading several times towards deeper self understanding....

Entitlement is optional

It's not forced on us, it's something we choose.
And we rarely benefit from that choice.

That emergency surgery, the one that saved your life, when the ruptured appendix was removed—the doctor left a scar.
We can choose to be grateful for our next breath.
Or we can find a way to be enraged, to point out that given how much it costs and how much training the doctor had, that scar really ought to be a lot smaller. And on top of that, he wasn't very nice. We're entitled to a nice doctor!

Or we can choose to be grateful.

Marketers have spent trillions of dollars persuading us that we can have it all, that we deserve it, and that right around the corner is something even better.
Politicians have told us that they'll handle everything, that our pain is real and that an even better world is imminent.
And we believe it. We buy into our privilege as well as the expectation that our privilege entitles us to even more. It's not based on status or reality. It's a cultural choice.
And you're entitled to your entitlement if you want it.

But why would you?

Entitlement gets us nothing but heartache. It blinds us to what's possible. It insulates us from the magic of gratitude. And most of all, it lets us off the hook, pushing us away from taking responsibility (and action) and toward apportioning blame and anger instead.

Gratitude, on the other hand, is just as valid a choice. Except that gratitude makes us open to possibility. It brings us closer to others. And it makes us happier.

Everything could be better.
Not because we deserve it (we don't, not really).
But because if we work at it, invest in it and connect with others around it, we can make it better. It's on us.
It's difficult work, counter-instinctual work that never ends.

 

GFRC Consignment News

Monday's consignment processing focused on Woodlands and Highwoods Collection consignments that arrived prior to the FUN show. About six consignments remain in the queue and will be processed in FIFO (First In, First Out) sequence during the balance of the week.

The Woodlands Collection consignment features an amazing selection of high grade Liberty Seated dimes for the advanced collector. The 1838-O F-101 dime, graded PCGS AU55, is so choice with even gun metal grade patina and is ideal for a type set or date/mintmark set. Brilliant frosty luster and a hammered strike characterizes the 1838 F-107 example graded PCGS MS65 CAC. How about the With Stars key date 1846 dime, also with a hammered strike, that resides in PCGS EF45 CAC holder? This example would be difficult to upgrade for most collectors. The second row of offerings is just as impressive. The 1872 F-102 is graded PCGS MS65 with CAC approval and is in the condition consensus as few collectors realize that 1872 strikes have a systematic luster issue that limits them to MS65 as the top grade possible....there is only one graded MS66. Then there is the 1878 dime from the Eugene Gardner Collection graded PCGS MS66 CAC that is a premium gem. We close the Client Gallery with another gem, an 1887 PCGS MS65 CAC from the Birmingham Collection initial sold by GFRC in late 2014. Enjoy!

Woodlands Collection Consignment - January 10, 2017

    

    

 

The Highwoods Collection offerings are focused on small denomination United States gold and also include a choice 1806 B-5 (R4+) Capped Bust quarter that deserves attention as a Dansco or Whitman type set album purchase.

Highwoods Collection Consignment - January 10, 2017

    

  

 

Global Financial News

I believe 2017 will bring three key financial topics that will often be re-visited in the Daily Blog. The first is Donald Trump's pressure on global industries to expand production in the United States. The second is China's economic woes and the third will focus on blockchain technology. The latter is quickly gaining acceptance for secure financial transactions; a technology that enables increased security against omnipresent hackers. Let's check examples of these topics in this morning's Seeking Alpha headlines.

First the Donald Trump effect....

Amid pressure to build products at home, Apple is seeking to conduct "high-tech manufacturing" and assemble data center server gear at one of its plants in Mesa, Arizona. "The nature of the product is not for end users but for other global data centers what will be supported from the site," according to a notification published by the Federal Register.

Donald Trump had a "great meeting" with Alibaba's ack Ma on Monday, when they discussed creating 1M new American jobs in five years. Some are calling the assertion a stretch, however, based on the company's definition of the goal. "Alibaba will create 1M U.S. jobs by enabling 1M American small businesses and farmers to sell American goods to China and Asian consumers on the Alibaba platform."

Then China's struggle for a soft economic landing....

China is vowing to contain high corporate debt levels and further cut excess coal and steel capacity, as investors scrutinized inflation data for signs of improved demand in the world's second-largest economy. The consumer price index for December climbed about 2.1%, on higher pork and fuel prices, while the producer price index jumped 5.5%, the fastest pace since September 2011.

And fnally, the emergence of blockchain technology...

Wall Street's largest back-office processing service is partnering with IBM to upgrade how payments and record-keeping for credit-default swaps are handled by putting the system on a blockchain by early next year. "This will be one of the first globally where we are using distributed ledger technology to become a piece of the infrastructure in a very critical market," said Depository Trust & Clearing Corp. CEO Michael Bodson.

Featured Coins of the Day

January is an indoor month due to cold and nasty weather throughout mainland United States. Hobbies are a convenient avenue for passing the long evenings and an alternate to mindless network television. At GFRC, there will be a constant flow of new offerings along with many quality coins in current inventory. Most are consigned and need to find a new home. Following are the remaining offerings from the Port Matilda collection. This individual has aggressively reduced prices to enable quick sales. If these coins don't sell in the next 30-60 days, they will be returned. Someone really needs to purchase the 1917 Type 1 Liberty Seated quarter as so darn attractive!

  

  

  

  

 

 

January 9, 2017

Welcome to the Daily Blog on a post FUN show Monday morning and thank you for stopping by.

Venice, Florida weather has been down right cold with wind chill advisory and a 40 degree low the past two evenings. Nearly all of the United States is experiencing some type of challenging weather including Maine which is currently at -5F. The Florida cold spell does have one blessing and that is clear skies with a bright sunny conditions. The timing was ideal given the substantial number of new purchases and consignments that were photographed yesterday. The imaging process was chilly but the results were quite good.

I'm happy to report that the GFRC Venice office is back in full operation. It took the entire day to reassemble inventory coupled with FUN show accounting and COIN system updating. Other than emerging from the office for lunch, dinner and coin photography, the day was fully consumed. As a result, there is nothing prepared for this morning's Blog.

Below is an important group of new GFRC offerings to start the week. All but the 1914-D PCGS MS64 CAC Barber quarter are on hold. Readers should immediately recognize the 1846 key date half dime, an 1840 Drapery dime and an 1855-S quarter at rarely seen grade levels.

FUN Show New Additions - January 9, 2017

    

   

There are many more exciting consignments to be added to the price lists during the upcoming week so please check back frequently.

GFRC Shipping Update

I worked late into Sunday evening preparing outgoing shipping and still have a few more to package this morning. Thank you for your patience on slower than normal shipping given our Disney World family reunion, the January 1 holiday USPS closure followed by travel to the FUN show. GFRC quick order shipping will be back to normal standards today.

Global Financial News

Spot gold is being quoted at $1180 and has recovered a bit from its recent swoop. I'm hoping to see gold break through the $1200 level shortly to support numismatic gold sales. Crude oil has settled in at the $53/bbl level.

Seeking Alpha headlines have several important insights into China that global investors should be watching. McDonald's has essentially decided to exit the China market by selling most of its properties to an investor group. This announcement definitely deserves scrutiny as McDonald's, like Walmart, is a proxy for economic conditions. The next Seeking Alpha headline also indicates ongoing capital flight out of mainland China as foreign exchange reserved fell once again. With a Trump administration on the horizon, the Beijing government must have concerns as the Yuan continues to weaken and rich Chinese move their monies overseas to Canada, United States and Australia.

McDonald's has entered an agreement to sell 80% of its 2,200 stores in China and Hong Kong to a consortium including Citic and Carlyle Group. It decided to keep a minority stake to benefit from exposure to future growth, a source told Reuters. The deal, which includes 20-year mass franchise rights, will value the business at as much as $2.08B and likely help McDonald's trim its overall operational costs and preserve capital.

China's foreign exchange reserves fell for the sixth the consecutive month in December, but held just above the critical $3T level, as authorities stepped in to support the weakening yuan. According to PBOC data, the world's largest stockpile of foreign currency plunged by $41.08B to $3.01T, the lowest level since March 2011.

Featured Coins of the Day

The United States $20 double eagle gold market is currently weak. Some individuals believe that the best buying opportunities are during a weak market as bargain can be hand. At the FUN show, GFRC attempted to sell the following quality Civil War San Francisco strikes at reduced prices on behalf of the Watch Hill consignor. Rather than sell these items to wholesale dealers, I've decided to offer special pricing directly to collectors and hope they will be able to aquire these at attractive levels. New prices are listed directly above each $20 gold piece. Special payment terms are available so please email or call me if there is potential interest.

Watch Hill Consignment - $20 Double Eagle Price Reductions

1862-S - $9,000                                                                             1863-S - $7,250

  

1864-S - $8,250

So ends another edition of the Daily Blog. A busy morning is at hand with more order shipments, a trip to Venice Island PO to locate a registered package not delivered before the FUN show and an Auburn Lakes Condo Association board meeting at 11:00am. I will be back tomorrow morning with more ramblings and maybe a featured article. Have a great week.

 

 

January 8, 2017

Greetings from Venice, Florida on a Sunday morning. My apology for a late publishing time as sleeping in for a hour was a priority after another busy week.

The 2017 Winter FUN show is behind us with the upcoming quiet time in the Venice office being most welcomed. Can you believe that Liberty Seated half dimes were the most popular Seated denomination at the FUN show? We sold more Liberty Seated half dimes than any other Seated denominations. The traditional wisdom would be that Seated halves would be the most popular followed by Seated dimes and quarters and we did sell those but not to the level of Seated half dimes. As a result, GFRC Seated half dime inventory is a bit depleted and consignments are requested.

FUN Show Day 3 Report

Saturday observations were consistent with the balance of the show. Collector traffic was slow with the occassional CDN or Gray Sheet "wannabe dealers" shopping at the GFRC booth and offerings 75% on the dollar for our quality coins. These wannabes always appear on Saturday and their behavior is no surprise. Before closing the booth at 3:00pm, we enjoyed a large four figure sale and received several cool Liberty Seated coinage consignments.

Saturday FUN Show Consignments

The first consignment to arrive was a choice original 1855-S Seated quarter graded NGC AU53 and off the market for over six years in strong collector hands. This individual has upgraded the date with an AU58 example, purchased from GFRC, and decided it was time to share the duplicate with the collecting community. This lovely 1855-S quarter has not visited CAC either but should. Images will posted in the next 48 hours and if interested, email me quickly for FRoR.

The second consignment appeared just as we were breaking down the GFRC table. An old numismatic friend appeared at the table and shared a recent purchase.... a lovely circulated grade Seated dime 1852 F-110b with bold die crack traversing the bottom of the date digits. This piece is one of the highest grade examples known with GFRC selected to market and offer for sale.

LSCC FUN Results

John Frost reports a most successful show for the Liberty Seated Collectors Club. The club signed up four new members and received six 2017 dues renewals at the show. The counterfeit 1872-S Liberty Seated half dollar announcement at the LSCC meeting and accompanying bulletin have been welcomed by PCGS and NGC. Numismatic News issued an electronic alert for the counterfeit and I expect that Coin Wold will do the same.

GFRC Open Registry Community Project

I'm incredibly pleased with Open Registry collector acceptance. As of this morning, the Registry has 198 sets and 25 participating collectors. It took 10 years to reach the 195 set level, on a manual entry basis, while the new system obtained a similiar threshold in two weeks. Expectations are for continued growth as the collector community awareness increases and more set categories are added.

Matt has completed the Liberty Seated Dollar set and also added plus (+) grade entry capability. Plus (+) grades will be scored with a 0.5 point adder. Please do not use plus (+) grades for uncertified coins rather for those PCGS or NGC coins with that designation.

Attention shifts to wrapping up the Liberty Seated half dollar sets this week and their release.

While at the FUN show, I spoke with my show partner, W. David Perkins, concerning the addition of a Bust Dollar Open Registry module. He is considering this possibility, so stay tuned for future news.

Some comments on automatic GFRC image posting in the Open Registry is in order since receiving questions via email on the topic. GFRC converted image file naming convention to TPG serial numbers during June 2016. If collectors purchased coins after June 2016 and they have TPG serial number image file names, then these will automatically load in the Open Registry once the TPG serial number is entered. Coins purchased from GFRC prior to June 2016 do not have the TPG serial number as the file name and will not automatically load.

GFRC Forecast for Coming Week

Between FUN show new purchases and consignments along with pre FUN show consignment arrivals, there are over 100 new coins to be photographed and added to the price list in the coming week. I strongly recommend that GFRC customers check the Daily Blog and 30 Day New Purchase price list on a regular basis for new posting. There will be a substantial amount of great new inventory to consider in the coming days.

Major Consignments Wanted.

GFRC now has an open calendar for soliciting and absorbing several major consignments during the balance of January. If you've been considering the divestment of a major collection or just duplicates, now is the time to contact me to discuss potential approaches for marketing and sales of your numismatic properties.

Featured Coins of the Day

Let's wrap up this Daily Blog edition with some lovely Draped and Capped Bust halves on this Sunday morning.

  

  

  

As always, your patronage and GFRC support is cherished and appreciated. Building a new age collector community portal is a long process and I'm committed to the effort. Our hobby is dynamic and exciting for those who share a passion for United States history and its artifacts. Thanks for visiting with me and I will be back bright and early on Monday morning. Have a great Sunday.

 

 

January 7, 2017

8:45 am Update From FUN Bourse Floor

Matt just emailed to announce that the Liberty Seated Dollar set is available for collection listing in the GFRC Open Registry.

FUN Show Day 2 Report

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

OK but not Great is the consensus for the Ft. Lauderdale FUN show.......

The Ft. Lauderdale FUN show will go down in the numismatic history books as an average show with dealers a bit disappointed. Everyone I spoke to shared the same opinion and looks forward to the FUN show returning to Tampa (2018) followed by Orlando (2019) venues. The core issue was lack of collector traffic. Many of the "regular" LSCC members that would be seen at Baltimore or Summer ANA shows did not make the trip to Ft. Lauderdale. The drop in bullion gold prices also was a drag on the gold side of the numismatic market. $20 Saints and common date Liberty pieces could be purchased in MS 63 for approximately $1200 at wholesale level.

The tragic Ft. Lauderdale airport shootings and deaths casts further negativity. At approximately 3:30 or so, the convention center announcement arrived of the airport shootings with the lone shooter being apprehended. A chill ran down my spine as I heard the news and knew we were just miles away from the event. Many collectors had outgoing flights on Friday evening and were wondering on their situation when arriving at GFRC table.

GFRC is having an OK show given our broad product lines and quality coins. Collectors that shopped at the GFRC table consistently commented on the quality and originality of our Seated and Bust offerings and bought without much hesitation. But there were simply not enough collectors on hand to generate great show results. Luckily, several of the FUN show opening day purchases and subsequent consignments sold quickly via announcement on the Daily Blog. For example, the 1846 PCGS VF30 OGH gem half dime sold yesteday for a strong $3500 to a GFRC consignor/collector. GFRC sales were broad based across all product lines. Our "yield" was high with most collectors arriving to the GFRC table walking away with a purchase.

CoinWeek staff was circling the bourse floor with camera seeking interviews and I agreed to do a feature interview highlighting the 1839 Pie Shattered Obverse Seated dime. It was a quick video shoot and I will announce the CoinWeek link in the Blog once available.

LSCC FUN Meeting

The LSCC meeting was an excellent event with much positive feedback. John Frost announced the discovery of an 1872-S Liberty Seated dollar counterfeit and passed around an example for inspection. My review would indicate Chinese origin as the surfaces were typical of the higher quality Trade dollar counterfeits seen in the Shanghai Yunzhou market. The piece was well struck but lacked the luster for its AU55/58 level preservation state. There was some "mint frost" but too many subtle hairlines along with dull fields. Look for detail articles in the upcoming February E-Gobrecht and March Gobrecht Journal.

The Norweb 1874-CC Liberty Seated dime also surfaced at the LSCC meeting as owned by Tom Davison. We had discussed the piece via email and made plans for the introduction at the meeting. This incredible piece resides in NGC MS62 Fatty holder and was originally graded MS63/MS65 at the Norweb auction.

GFRC Open Registry Community Project

The Open Registrys is approaching 200 sets within just two weeks of launch. I spoke with one individual at the FUN show who has reviewed the Open Registry and is well versed in numismatic IT projects. He believe that GFRC has developed an important alternative to the "closed" TPG registeries that will catch on with collectors. His advice was to size the GFRC IT resources to support a much larger population of sets and image hosting as he believes the demand will grow quickly.

Matt is back in Beijing along with family. He emailed last evening and is working on the Liberty Seated Half dollar sets and will be consulting with Bill Bugert for clarifications on the Top 100 and Ultimate half dollar entries. The Top 100 set will be designed to be a subset of the Ultimate set for ease of entry. Matt is also starting to look at Stephen Petty's revised Sheldon rarity numbers for the Seated Dollar set.

Time to Close the Blog

Yes, it is time for a shower and quick Dunkin Donuts breakfast before heading to the Broward Convention Center and Day 3 of the FUN show. Saturday is traditionally a slower day and GFRC will be closing down at about 3:00pm followed by return drive to Venice.

Thank you for visiting with me this morning at the Daily Blog. Have a great weekend and let's remember those who lost their lives at the Ft. Lauderdale shootings. When will the carnage of innocent people stop in in the United States?

 

January 6, 2017

FUN Show Day 1 Report

Welcome to the Daily Blog on a Friday morning and initial FUN show report.

Don't I love attending a major coin show that has a healthy bourse floor "buzz" throughout the day. This was the case on Thursday after the official opening at 10:00am. One could feel the energy in the convention center as attendance was quite strong. The GFRC booth was active throughout the day from 10:00am until about 5:00pm without a break for lunch. On a very positive note, FUN came through with signage so GFRC was made whole by about 10:30am.

Sales were strong for Liberty Seated inventory and reasonable for the balance of the product lines. Immediately after the show opening, one of my ANA summer seminar students came by for a nice visit and purchased a 6 piece Seated half dime deal. Half of the pieces from the fresh Liberty Seated dime collection, purchase on Wednesday, immediately sold along with the 1875-CC PCGS VF35 CAC quarter. We sold several high grade $2.5 gold quarter eagles to an individual who won a bronze medal in the 800 meter sprint at the Rio Olympics. How cool is that? World coins also saw considerable attention, given the GFRC booth location adjacent to the Foreign and Ancient section of the bourse.

In between sales, more consignments arrived with each lot being noteworthy. I've fallen in love with the 1846 PCGS VF30 OGH half dime and this piece will not last long. The Seated dime consignment is a variety treasure trove and has been accumulated for years and finally being released to market. Please pay attention to the following list of consigned items for potential first right of refusal. Several of these will be placed into the display cases and may not last long.

GFRC New Consignments

Seated Half Dimes: 1846 PCGS V30 OGH gem original with substantial eye appeal; 1865 PCGS VF35 Childs pedigree choice original

Seated Dimes: 1839 F-105a PCGS AU58 so nice; 1856-O F-108b F15 full reverse cud; 1856-O F-109 VF; 1886-S F-102 PCGS EF40 nice original gray; 1887-S AU55 F-107 very late die state shattered reverse; 1890-S F-112 die gouge VF choice original

Seated Half Dollars: 1846-O Med Date PCGS AU58 choice original; 1866-S No Motto PCGS EF40 No Motto

FUN Friday Agenda

Friday morning will be incredibly busy with the LSCC regional meeting at 9:00am then returning to the bourse floor for 10:00am and show open. At 11:00am, I am giving a one hour presentation on Developing a Passion for Liberty Seated Dimes in rooms 122/123. Wow, FUN provided a substantial write-up in the show program directory and two meeting rooms. At 12:00 noon, I return to the GFRC 1827 booth and will be able to relax for a few minutes.....but hopefully for not too long.

So concludes today's Blog. Time for a shower, a wholesome breakfast and booth opening at 8:30am. Have a great day!

 

January 5, 2017

Welcome to the Daily Blog and Ft Lauderdale FUN Show report.

The drive from Venice to Ft. Lauderdale was uneventful and our first time through I-75 "alligator alley." Alligator alley is a east-west highway that connects southern Florida between Naples and Ft Lauderdale. We arrived with ample time, had a nice lunch and located the Broward County Convention Center. Arriving by car can be confusing as accessing the convention center and Port Everglades ship port is from the same road. One has to carefully read signs while driving.

FUN Show Dealer Setup Day

GFRC typically has bad luck with FUN and ANA organizations with dealers directories and signage. Yesterday was typical. Upon arriving to booths 1825/1827, there was no GFRC signage. Yes, W. David Perkins has his sign but nothing for Gerry Fortin Rare Coins. After several complaints, we were informed that other dealers had similar problems and signage was being made and overnighted to the show. We shall see.......

At least, the GFRC listing in FUN show directory is correct this year.

If visiting the FUN show today, Gerry Fortin Rare Coins is at table 1827 and please look for the W. David Perkins 1825 sign. We are easy to spot with two connected corner tables.

Dealer setup went smoothly though the bourse floor was like a sauna with no air conditioning for the first few hours. Dock doors were open to allow large dealer staging items to enter until 4:00pm, then the air conditioning finally was turned on. Otherwise a smooth setup.

Since GFRC is a retailer dealer, the focus of dealer setup day is careful buying. A fresh Liberty Seated dime set debutted on the floor and I was provided early access. Then my favorite wholesale dealer arrived with more purchases. Following are new purchases to consider and please email me quickly for FRoR, prices and camera photos as these coins are or will be in the bourse case by 10:00am.

Capped Bust 10c: 1832 JR-4 PCGS EF45 CAC choice original

Fresh to Market Seated 10c: 1840 Drapery PCGS AU55 rare grade, frosty while with cartwheel luster; 1849-O PCGS EF45 F-102 small O undergraded and pretty; 1856 F-111 DDO PCGS MS63 gem original hammered strike OGH; 1855 PCGS MS64 choice original full strike; 1855 PCGS MS63 gem for grade full strike; 1873 PCGS MS63 Open 3 CAC rare grade and one of the finest; 1886 PCGS MS63 CAC OGH undergraded gem

Seated 25c: 1875-CC PCGS VF35 CAC choice original gray, difficult date!

Seated 50c: 1870-S PCGS EF40 CAC choice original medium gray, tough date!

GFRC Open Registry Community Project

Wow..... The Open Registry set tally is 188 this morning as more collectors are finding time to showcase their hobby efforts. In the Liberty Seated half time category, the Electic Peak collector has taken the number 1 spot with an awesome 94% complete mint state set with average grade of 65.1. I can't wait to see the images......

Early Close to Today's Blog

Yes, it is time for a shower, then breakfast and heading to the Broward Convention center for bourse floor open at 8:30am. Thank you for visiting and please check back tomorrow for a Day 1 FUN show report. Have a great day and if attending, please come by Table 1827 to say hello.

 

 

January 4, 2017

Greetings on a Wednesday morning as the much anticipated FUN show arrives with dealer setup at 2:00pm!

Tuesday turned out to be a long day with a host of preparation tasks but GFRC is ready for the Ft. Lauderdale drive this morning. While hand picking each coin to be transported and offered for sale at FUN, some price reductions were in order on several consignments. Please check the price lists as all price reductions have been marked with the New Price label.

Today's Blog will be brief given the pending drive and last minute preparation. I will attempt to write FUN Daily Show reports each evening so please check at regular Daily Blog publishing times.

GFRC Open Registry Community Project

Tuesday saw the GFRC Mountain View consignor adding his Liberty Seated quarter sets. Congratulations go out to this collector for loading the first 100% complete Seated quarter date and mintmark set on the Open Registry. GFRC has sold many duplicates from this consignor and he has purchased a fair amount also!

Matt assessed the Liberty Seated half dollar changes from Bill Bugert and reports a substantial rewrite of the Seated half dollar portion of the database will be necessary for the multiple set loading function as part of the release. He is projecting to have the rewrite completed by mid January and asks for your understanding.

The total number of sets in the Open Registry climbed to 169 overnight and I believe we are just getting started.

Global Financial News

Spot gold prices continues to slowly march forward and are quoted at $1167 this morning. Seeking Alpha headlines suggest a pick-up in European inflation. There is even positive news about Japanese factory activity.

Consumer prices across the eurozone reached a high not seen for almost four years, jumping 1.1% in December, mainly supported by a surge in energy prices. It's good news for the ECB, which has a current inflation target of just below 2%. Data overnight also showed a strong end of year for euro area business activity, with the bloc's final composite PMI climbing to 54.4 last month, the highest level since May 2011. Euro +0.3% to $1.0436.

Japanese factory activity expanded at the fastest pace in a year in December as orders picked up, in an encouraging sign that the struggling economy may be regaining momentum. The final Markit/Nikkei Manufacturing PMI rose to 52.4 on a seasonally adjusted basis, higher than a preliminary reading of 51.9 and a final 51.3 in November. The Nikkei closed up 2.5% on the news.

FUN Show Highlights

GFRC will have all major coins in inventory on display (and for purchase) at the show. Following is a reminder on why collectors should be visiting Tables 1825/1827 on Thursday through Saturday. A second reminder that Gerry Fortin will be giving a presentation entitled, Developing a Passion for Liberty Seated Dimes, on Friday morning at 11:00am. Please check the FUN show program for the meeting room location.

  

  

  

  

  

Thank you for stopping by and looking forward to seeing many GFRC customers, consignors and friends at the FUN show. Have a great day.

 

 

January 3, 2017

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

Today will be a mad scramble towards preparing for the FUN show drive to Ft. Lauderdale tomorrow morning. Shipments must be brought to the Venice Island post office while retrieving packages that are on hold from last week. Then there is a visit to NGC in Sarasota to pick up a United States gold submission along with a day of last minute consignment preparations. Wednesday brings 2:00pm GFRC setup at the much anticipated FUN show.

Yesterday saw a record number and amount of consignment payments being prepared. Each consignor received a courtesy email with COIN account report. One of those consignors was Poetic Candy and, of course, provided a poem for the occasion.

MONEYCHANGER

To me I never understand,
In fact I think it funny,
That to everyone I know,
The most important thing is money.

As for me, I need no money,
And I’m not telling any lies,
The only thing I really need,
Is what the money buys.

GFRC Consignment News

Prices were settled for the latest Osprey Collection lot of United States $2.5 quarter eagles with those pieces added to the price lists this morning. Please pay special attention as the lot offers several tiny mintage dates and overall rarity including the 1843-O Large Date, 1874 and 1880 examples. If interested, please contact me asap as these will be in the FUN show bourse floor cases along with the rest of GFRC's United States gold offerings.

If time allows, I will process Highwood Collection images today for Wednesday's Blog.

GFRC Open Registry Community Project

It seems that each day brings more participants and sets to the Open Registry as the number of sets grew to 157 on Monday.

Bill Bugert completed his Liberty Seated half dollar rarity weight assessments and added WB-1xx variety numbers to all set entries. Matt has the file and indicated being able to update the database by coming weekend. So Liberty Seated half dollar collectors should plan to start entering their sets next week.

Osprey has already proposed two United States gold type sets to start the rollout of gold sets in the Open Registry. My attention will move in this direction after the FUN show.

The Massachusetts Collection consignor also jumped in to lend a hand! In yesterday's blog, I mention that many photography questions were arriving via email as collectors wish to add images to their Open Registry sets. I remember writing a Blog with detailed review of the GFRC photography process and committed to locate and republish. The Massachusetts consignor located the content in the July 2015 Blog and save me considerable time. Many thanks Tom! Following is the entire article.

Featured Topic of the Day: Coin Photography

Smart phones and tablets contain optics and software to capture adequate photographs but when it comes to high resolution imaging for numismatic retail business, more sophistication equipment, software and techniques are necessary. I'm sure that others believe they are experts on coin photography so today's topic is an explanaton of the techniques employed at GFRC. The goal of this discussion is not to judge who has the best images or which photography process is superior. The GFRC process has been optimized over a period of 13 years and I'm still learning new tricks every week.

To bring about high quality digital coin images, each step in the photography and imaging process must be optimized. If there is a weak link in the chain, then the overall chain strength is diminished. The same applies for digital imaging. I see the following parameters as being absolutely critical towards generating quality photographs;
- Lighting
- Camera settings and operation
- Digital Image processing techniques

Then one has to consider the item to be photographed. Raw coins are much easier to photograph than TPG holdered coins. The latest generation of PCGS and NGC edge view holders are very challenging due to new holder designs with multi angled plastic edges that will reflect light at unexpected angles.....

So let's start with Lighting. Lighting selection is a critical parameter as each lighting source option generates its own color bias during photography along with emphasizing or hiding defects on a coin's surface. I believe that natural sunlight is the best lighting source for generating images that most closely capture a coin's natural colors. Have you tried viewing coins under halogen, incandescent, flourescent and natural lighting? Each lighting source produces different results. Therefore it is critical to decide early on which lighting source best fits your publishing needs. At GFRC, I believe in selling coins with beautiful original toning so natural lighting is selected.

Next is the Camera. Camera technology continues to evolve with super Mega Pixel options. I don't pay much attention to the latest developments as I use an old camera dating back to a 2002 release; the Nikon CoolPix 995 with bayonent mount. This is a large solid camera that is easily mounted on a stereo microscope with adapter that slides over one of the lens pieces. A "photodome" is also available that mounts on the camera and provides a simple but elegant solution for "setting up" the photography bench where ever bright sunlight is available. The "photodome" solves many problems including the proper focal length between coin and camera, eliminating lighting source shadowing and providing portability. Much more expensive photography benchs are common with multiple lightning sources and a stand mounted camera. These bench's are not portable (they remind me of the old time audiophile component racks) and have their limitations though producing incredible images. PCGS TruView is an example of a sophisticated bench mounted system with special lighting sources.

Camera Operation: To capture the best possible images in terms of natural contrast and colors, my rule of thumb is F-Stop > 7.0 and Shutter Speed at 1/500 sec. Today's blog will not go into F-stop or shutter speed explanations....you can Google those topics at your convenience. The best possible image contrast is captured at the highest F-Stop possible in conjunction with the fastest shutter speed. Too much light exposure eliminates (washes out) the delicate details of a high quality coin.

Image Processing: Everyone has their favorite image processing software so use the one you are most comfortable with. But always work with TIFF formated files when processing images. The JPEG format is ideal for publishing due to its compressed format and small file size but is lousy format for image processing but has considerble loss of delicate image details due to compression at each image processing step. You must use TIFF regardless of large file sizes during image processing. So take that fresh camera image and immediately save as a TIFF and when done, save as a JPEG.

Image processing has the following steps; 1) save as a TIFF, 2) rotational aligment, 3) RGB color compensation for lighting and camera bias, 4) contrast and brightness tuning to exactly match the coin in hand, 5) cropping in the white background, 6) resizing to standard website presentation size and 7) saving from TIFF to JPEG format. Within these seven steps, there are lots of subtle tricks that I have acquired over the years....experiment and decide what produces the best results for your needs.

Global Financial News

We start off 2017 with a strenghtening US dollar while gold is holding on to recent gains at $1147/oz. Crude oil starts the year at $55/bbl and let's see if production cut agreements will stick between OPEC and non-OPEC producers.

The dollar index kicked off the new year by making its biggest one day gain in over two weeks, rising 0.4% to 102.63. Most analysts expect the greenback to continue strengthening in 2017, because the economy appears likely to withstand multiple Fed rate hikes, making it more attractive to hold dollar-denominated assets. Despite pressure from a strong dollar, gold also extended its positive run into the new year following an 8% gain in 2016.

It will inevitably be another big year for crude watchers as the truth over whether oil producing countries will cap output is made clear. Jan. 1 marked the official start of the deal agreed by OPEC and non-OPEC member countries in November last year to reduce production by almost 1.8M barrels per day. In the session today, crude is pushing higher: WTI +2.4% to $55/bbl.

The British manufacturing sector appears to be doing just fine regardless of the Brexit vote.

The Brexit bashing continues after British manufacturing growth soared to a two-and-a-half-year high last month, fueled by new orders from both home and abroad. Markit's U.K. Manufacturing PMI rose to 56.1, from 53.6 in November, faring much better than many economists predicted in the aftermath of the vote to leave the EU. The FTSE 100 hit a new record high on the news, rising 0.5% to 7173.50.

And finally, Finland is experimenting with a radical idea. As long as you are an adult and alive, you get paid.... This is an example of what economist call "helicopter money" ie. free money from the sky to boost economic activity.

Finland has started a radical experiment: It's giving 2,000 citizens a "universal basic income" of €560 a month, with funds that keep flowing whether participants work or not. The program is hoped to cut government red tape, reduce poverty and boost employment, and could be expanded to include all adult Finns if successful.

Featured Coins of the Day

I'm rather partial to Liberty Seated dimes and Top 100 Varieties for some reason..... Here are a few candidates to dress up an existing set or to start a new Top 100 Varieties set.

  

  

  

So concludes another edition of the Daily Blog. Time for shower and queuing at the Venice Island post office for opening time and then a drive up to NGC. I will be back tomorrow morning with a short Blog followed by the drive to Ft. Lauderdale. Have a great day and please do stop by tables 1825/1827 to say hello if at the FUN show this week.

 

 

January 2, 2017

Welcome to the Daily Blog on Winter FUN show week. This year's bourse floor is massive and will provide collectors with outstanding access to all types of numismatic products.

Once again, here is the bourse floor map and the location of Gerry Fortin Rare Coins - W. David Perkins Numismatist. We invite you to visit booths 1825/1827 first for a look at quality Bust, Liberty Seated, United States Gold and also a strong array of World coin offerings.

Gerry Fortin Rare Coins - W. David Perkins Numismatist - Tables 1825/1827 - Winter FUN

LSCC News

Overnight, Bill Bugert sent out a preview article of an alarming 1872-S Liberty Seated half dollar counterfeit that resides in recently graded PCGS AU55 holder. There are reports that several more were seen being offered on eBay. This counterfeit will be available for viewing at the LSCC regional meeting on Friday 9:00am and at the LSCC club table. Just click here to download and read the article.

GFRC Consignment News

Venice weather was partly cloudy on Sunday but I did manage to photograph the new Osprey and Highwoods Collection consignments. Below is the latest Osprey Collection consignment with some important United States $2.5 quarter eagles. Most Blog readers probably don't realize the 1880 date has a tiny mintage of 2,960 and is far from a bullion piece. The 1853 quarter eagle is graded PCGS MS64 CAC and has incredible old time luster. Finally, the 1860 Indian Cent is a JUST BUY IT NOW recommendation with Eagle Eye approval and certificate.

Osprey Collection Consignment - January 2, 2017

    

    

  

GFRC Open Registry Community Project

The first week Open Registry participation rate is well beyond my expectations as quality sets are being listed. The number of sets is already at 150 without Liberty Seated Halves being active. In particular, I am most impressed with The Iowa Collection of Liberty Seated Quarters.

Loading Open Registry Images

Matt has remove error checking on the image upload portion of the input template so that collectors can try loading images from their favorite hosting sites. Please give it a try and report back with potential issues. Just remember that the proper URL systnax does not contain any "(" or ")". The URL should begin with http: or https: and end with a number or letter; no control characters please as part of the image URL link.

Coin Photography

I've received several emails from individuals concerning coin photography. This topic requires a long instructional discussion and believe that one was written in a Blog during 2016. Will look for the Blog edition after the FUN show and republish then.

Featured Coins of the Day

Today's Featured Coins focus shifts to small denomination United States gold. Following are quality gold $1 pieces seeking a new collector home. GFRC will have over 1.5 cases of quality United States gold at the FUN show; that includes double stacking given the limited number of cases available vs. the size of GFRC inventory.

  

  

  

Do please consider a GFRC purchase today to get the numismatic year rolling! GFRC office is open all day as FUN show preparation are underway. Thank you for visiting the Daily Blog this morning. Have a great Monday holiday......

 

 

January 1, 2017

Greeting from Venice and Happy New Year as 2017 has arrived! Thank-you for starting off the new year with a visit to the Daily Blog.

Did I stay up until midnight to watch the Times Square ball drop? After a busy week in Orlando and fighting a nasty head cold, bedtime arrived at 9:00 pm and I missed the event. Feeling rested and being ready to tackle another busy numismatic day was a much higher priority. 2017 is off to a great start as an order arrived at 11:30pm December 2016 for the gorgeous Upstate New York 1853 A&R NGC MS61 quarter. I'm quite superstitious after years of working in China and believe these is something to the Chinese Lunar calendar, associated horoscopes and good fortune. Opening emails this morning and seeing an initial four figure order to start 2017 is an excellent omen for the upcoming year.

LSCC January 2017 E-Gobrecht

There are certain things that run like clockwork in the world. One of those is the publication of the LSCC's E-Gobrecht by editor Bill Bugert. The January 2017 edition arrived to my Inbox last evening at 7:30pm and is another great issue. This is the 13th year that the E-Gobrecht is published, providing timely Liberty Seated Collector Club news, monthly columns and featured articles. In this issue, the featured articles include the announcement of the GFRC Open Registry Community Project along with A Tour of the San Francisco Mint 1856 Part 3 by Jim Laughlin.

LSCC FUN Show Regional Meeting and Gerry Fortin's Developing a Passion for Liberty Seated Dimes Presentation

January 6 will be a busy day at the Winter FUN show in Ft. Lauderdale. The LSCC regional meeting takes place at 9:00am with the following agenda;

- Attendees Group Photo - 9:00am (so be on time)

- Attendee Brief Introductions (name, rank and serial number...)

- Club News including discussion of the LSCC at 2017 ANA Summer Seminar - Gerry Fortin

- Discovery of Deceptive 1872-S Liberty Seated Half Dollar Counterfeit - John Frost

- Featured Educational Presentation: Liberty Seated Dollars - Stephen Petty

At 11:00pm, I will be breaking away from the GFRC table at 1825/1827 and will provide a one hour crash course on Liberty Seated dimes. This presentation will cover design types, grading, how to develop set collecting objectives followed by a deep dive into key vs. commond dates and major varieties. There will be a substantial amount of material to cover in hour's time so this presentation is geared for individuals with basic to advanced numismatic vocabulary and skills.

GFRC Open Registry Community Project Update

It appears that the GFRC Open Registry is just starting to gain momentum as the set total sits at 145 this morning without inputs for Liberty Seated half dollars. Here is what we can expect during the month of January.

- Bill Bugert is finalizing his changes to the Liberty Seated half dollar sets.

- Further Seated Dollar set inputs are pending Matt availability to change the weights to Sheldon scale as devised by Stephen Petty.

- United States Gold will be the next focus area for incremental sets. Osprey has agreed to begin the definition of gold type sets.

Please remember that coins purchased from GFRC will automatically have their images loaded into the Open Registry once the TPG serial number is entered. For raw coins, I will provide the links on a request basis.

GFRC Consignment Update

Osprey visited the GFRC office yesterday to drop off yet another consignment consisting of United States $2.5 quarter eagles and a gorgeous gem 1860 Indian Cent graded PCGS MS64 with CAC and Eagle Eye approval beans. Also, a shipment from the Highwoods Collection arrived. Following are the details. These will be photographed today and hopefully posted as a Client Gallery on Tuesday morning. Two additional consignments are waiting for me at the Venice PO and Tuesday pickup.

Osprey Collection

Indian 1c: 1860 PCGS MS64 CAC, Eagle Eye approval and absolutely stunning example for the most selective collector

Gold $2.5: 1843-O Large Date PCGS AU50; 1853 PCGS MS64 CAC a wonderful gem with stunning luster; 1854-O NGC MS61; 1856-S NGC AU58; 1861 PCGS MS64 pretty satiny luster; 1874 NGC AU58; 1880 NGC AU55

Highwoods Collection

Draped 25c: 1806 VG10 gem for the grade with perfectly original color...should be an instant CAC is accurately graded at TPG

Gold $2.5: 1853 NGC MS62 choice with nice satiny luster; 1856 NGC AU58; 1878 PCGS AU55 better date

Gold $5: 1878 NGC AU58

Featured Coins of the Day

GFRC has come a long way in building up Liberty Seated half dollar inventory and is now the leading dealer in the industry for this design and denomination. Following is a sample of the broadening inventory; 1839 No Drapery and With Drapery Seated halves. These two designs are always in demand by both type and date and mintmark set collectors. Offers are welcomed on any of the following six pieces if not sold at the upcoming FUN show.

  

  

  

So ends the Daily Blog for the first day of 2017. Once again, Happy New Year to all GFRC consignors, customers and special friends. Our numismatic community continues to grow and I believe 2017 will be an exciting year for the hobby and gold bullion prices. I will be back tomorrow with more ramblings. Have a great holiday weekend.

 

 

December 31, 2016

New Year's eve arrives as 2016 comes to a close. A special day and still time to write another Daily Blog edition.

Wishing all GFRC customers, consignors, special friends and Daily Blog readers a safe and fun New Year's celeberation. For the Fortin family, there are no celebration plans this evening. We've had a busy week with the Yamatins along with our daughter Renee, and her fiancee Mike, vacationing at Disney World in Orlando and returning to Venice today. It has been a wonderful Fortin family reunion vacation during the past week. Now the FUN show arrives in a few days with a host of orders shipping on Tuesday.....

GFRC 2016 Reflections

2016 was an incredible year for the GFRC business start-up. Yes, GFRC is still in a start-up mode as numismatic customer service and community building ideas turn to reality. Please indulge me for a few moments as the major accomplishments of the past 365 days are shared.

- Osprey joins the GFRC community as a key consignor of United States gold while gold bullion prices awaken and run up above $1300 briefly

- Matt Yamatin joins GFRC as IT Director

- The COIN system is initially designed, on paper, in late January and launched in May timeframe along with GFRC Quality Ratings.

- John Frost, Len Augsburger and Gerry Fortin, are LSCC instructors at the ANA Summer Seminar

- Gerry announced the sale of his Top 100 Liberty Seated Dime Varieties Collection

- Summer is spent converting GFRC consignors to COIN account reports and automated website price list conversions

- Osprey provides a major World Coin consignment with GFRC developing advertising campaign for COIN World

- GFRC spreads its wings and attends Summer FUN and CONA shows with positive results

- GFRC makes late summer decision to rebuild the Open Registry as next strategic community project

- GFRC returns to Shanghai in November with record results at the Yunzhou Antique Mall show; Matt adds Google Translator Widget to Daily Blog

- The GFRC Open Registry Community Project is launch immediately after Christmas with strong community support

- 2016 Year End Statistics;

- Close to 1650 coins sold with nearly 1000 being consigned

- GFRC active Consignor lists grows to over 75 individuals

- GFRC pays out $1,350,000 in consignor proceeds since start-up in late 2013

GFRC Open Registry Community Project Update

While the Yamatins were traveling to Japan, I spent the better part of Friday updating my Liberty Seated Dime w/Varieties set on the Open Registry to showcase his accomplishment. Images and descriptions were ported from PCGS Set Registry. The set is about 50% completed in terms of number of coins having images and descriptions. Some comments are in order;

- Matt's display layout is superior to that of PCGS. The Owner Comment box will auto size based on device screen size. I love the "centered coin image" presentation approach on laptop screen.

- Downloading a large set with images and descriptions takes time. The database extraction must find all the image links and comments. So patience will be required for individuals with slow internet access.

- There is an issue with adding images from web image hosting services at the moment. I have an email into Matt to discuss the proper syntax for image URLs.

Thank you to the GFRC Community for an incredible 2016!

After spending much of my life working for semiconductor corporations, the chance to launch and grow GFRC is a once in a lifetime blessing. GFRC's success would not be possible without the many dedicated customers and consignors who support this business. Then there is W. David Perkins as my major show table partner and overall great guy in the numismatic industry. I'm extremely blessed to have Matt Yamatin's creativity and intense software development support. Ideas are simply ideas without a strong development platform.

To everyone who has consigned to and purchased coins from GFRC, my sincere thank-you and wishes for great numismatic fortune during 2017!

 

 

December 30, 2016

Welcome to the Daily Blog on the last Friday during 2016. Another year quickly soars by. The verb "soars" is purposely used as GFRC had an incredible year during 2016. More on this topic in subsequent Blogs.

Matt, Chikae and Natsumi are once again traveling with Tokyo as today's destination. Dad was up at 3:00 am to provide transport to the airport and return just in time to write another Blog edition. It was wonderful having the Yamatins living with us for two weeks and spending quality time with Natsumi. They will be returning to our Maine home during the coming July and August timeframe.

Before leaving Matt gave the GFRC community a New Year's present. Read on......

GFRC Open Registry Community Project Update

Set posting at the GRFC Open Registry continues with 128 sets and 19 collectors to date. Within another 30-60 days, I expect the set total to easily reach the 200 count milestone as our community expansion continues.

Automatic GFRC Image Posting

The important news of the day is automatic image posting for coins purchased from GFRC! Yes, Matt was able to add code to the Open Registry whereby entered TPG certificate numbers will trigger a search of the COIN database and upload images if available. If you've purchased coins from GFRC since June 2016, then the image file names are the TPG certificate number and will automatically upload. How is that for service? Please remember to enter only the serial number for PCGS coins and not the entire holder number. For NGC numbers, please do not include the (-) before the last three numbers.

For coins purchased prior to June 2016, I will provide file names and links on a request basis.

Liberty Seated Halves Review

I spoke with Bill Bugert yesterday. He has completed the rarity rating review and suggested that the WB numbers be added to the half dollar sets to further simplify variety attribution and entry. We will be working on this improvement over the next few days pending Matt's availability to update the system. In the meantime, Liberty Seated Halves set posting will remain on hold.

GFRC Consignment News

Pricing for the latest Osprey Collection consignment has been finalized. These offerings will be loaded to the price list this morning.

Global Financial News

Spot gold continues to move forward and is quoted at $1160 this morning. The next two days will bring a host of 2016 reviews and highlight reports. Seeking Alpha published their 2016 review this morning since New Year falls on a weekend.

Politics, economics and markets were all turned on their head in 2016, and investors are looking ahead to 2017 following a turbulent year. Highlights: The Panama Papers, Volkswagen Dieselgate settlement, Greek debt relief, Megabrew (Budweiser and SAB Miller merger), the EU's tax crackdown, sale of Yahoo, nuclear test and impeachment in Korea, Pokemon Go, Twitter takeover rumors, Brexit and sterling's plunge, the Italian referendum, panic at Germany's Deutsche Bank and Italy's Monte dei Paschi bank, OPEC's output deal, and following Donald Trump's election - a Fed rate hike, the dollar's surge and soaring treasury yields. The Dow, S&P and Nasdaq also partied like it was 1999 - the three markets all closed at historic highs for the first time in 17 years.

Featured Coins of the Day

Today's featured coins are from the Seated and Traded Dollar price list. Collecting large denomination early type United States coinage is quite challenging as much of the surviving population has been cleaned. In recent years, third party grading services have also become more lenient on certification standards so caution is advised.

  

  

  

So ends another edition of the Daily Blog with regular posting time. Thank you for checking in. Of course, there will be more numismatic ramblings posted tomorrow so do please check back. Have a great day!

 

 

December 29, 2016

Greetings once again as 2016 comes to an end. Thank you for being a loyal Daily Blog reader.

My apology for the late Daily Blog postings during the past two days. The head cold is somewhat better but still quite a nuisance with liquids and sleep being the imperatives. One reader joking commented via email that, "Get that cold straightened out...you throw my whole morning routine off when the blog is late ;)"

GFRC Consignment News

Pleez B Seated Part 3 Collection

I'm pleased to report that recommended pricing for the last of the Pleez B Seated halves has been approved. These will be loaded to the price list after the Daily Blog is completed. We can expect the better dates to sell quickly.

Osprey Collection

Another outstanding offering from the Osprey Collection is displayed next. As usual, the United States gold should garner considerable attention along with choice silver pieces. My favorites in the lot included the 1845-O PCGS AU50 Seated half, assigned a gem quality rating, along with the 1838 Classic Head $5 NGC AU58 CAC piece and the 1854 Large Date $20 double eagle graded PCGS AU53. Most of the United States gold is freshly graded and sourced from Europe in the November timeframe.

I hope the following Osprey Client Galley is enjoyed this morning. First Right of Refusal (FRoR) should be used to reserve potential acquisitions. This lot should be posted to the price list later tomorrow.

Osprey Collection Consignment - December 29, 2016

    

    

    

    

    

    

Incremental Consignments

Emails are arriving from several GFRC clients proposing consignments after the FUN show. Collection pruning towards raising capital for more long term and strategic collecting goals is the common theme. I'm honored to be trusted by a growing number of collectors in the GFRC community. Incremental consignments will continue to be announced in the Daily Blog.

Global Financial News

Spot gold is catching a tailwind and is quoted at $1147 this morning. Crude oil is holding recent gains at $54/bbl.

The financial media is creating considerable drama concerning the Dow 20,000 milestone. To everyone's disappointment the Dow lost ground yesterday; the media has another day to speculate.

The Santa rally has run out of steam. U.S. stocks declined on Wednesday in the second biggest loss since the election. The Dow opened just a short hop away from 20,000 but then lost 111 points, falling to 19,833, while the S&P 500 fell 18 to 2,249. Ripples from Wall Street have spread overseas overnight and U.S. futures are not looking too bright in the penultimate trading session of the year.

International politics and finance may be a bit exciting as 2017 arrives. Obama is using the last days of his administration to cement an agenda while Trump appears to be shaking up established international policies. None will be more important than the relationship with China. China is quietly struggling with a slowing economy and Trump's promises to reduce a trade defict by moving manufacturing back to the United States will only add pressure onto Xi Jinping. Taiwan appears to be the pressure point.

Taiwan President Tsai Ing-wen will pass through the United States when she visits Latin America next month, angering China which urged authorities to block any such stopover by stating "we hope the U.S. can abide by the 'one China' policy." The transit details are being closely watched as Taiwan media has speculated Tsai will seek to meet President-elect Donald Trump's transition team ahead of his Jan. 20 inauguration.

Featured Coins of the Day

One of the GFRC 2017 resolutions is to continue expanding Capped Bust coinage offerings. At this point, GFRC is well known for its broad Liberty Seated inventory and consignments for those denomination are pouring in. The Open Registry, with its in depth variety sets, is a first step towards offering Capped Bust collectors a fun collecting community platform. Following are some of my favorite smaller denomination Capped Bust pieces in inventory.

  

  

  

  

So ends another Daily Blog edition. Thanks for stopping by and checking out these numismatic ramblings. My head cold appears to be waning and hopefully Friday's Blog will be a bit more timely. Have a great day......

 

 

December 28, 2016

Welcome to the Daily Blog on a Wednesday morning. 2016 is quickly coming to a close with the New Year arriving on Sunday.

Today's Blog is a bit behind schedule due to a nasty head cold and the need for additional sleep and early morning rest.

GFRC Open Registry Community Project Launch Update

Set building at the GFRC Open Registry continues at a torrid pace with 118 sets online when writing today's Blog. As a reference, the old manual Open Registry reached 195 sets before becoming unsupportable. Favorable comments continue to arrive by email. Following are a few excerpts.

The new GFRC Open Registry is simply amazing. Finally had the opportunity to start some sets. Matt and you both are to be congratulated. The only part that is still a bit of a mystery is how to include images. Is the registry open for images yet?

Adding images to the GFRC Open Registry is as simple as copying and pasting the image URL from an image hosting service. Unfortunately, GFRC has no plans to host Open Registry images unless the coins are purchased from GFRC. When coins are purchased from GFRC, the price list images remain in the COIN database and can be linked in the Open Registry.

Hi Gerry, I think that what you and Matt have done on this is so innovative. I'm so amazed with how easy you guys have made it to enter coins and how they cross each other to different sets, Its truly a ground breaking idea. I have entered my dimes but I did the Wrong entry on the name of my sets, I added THE and COLLECTION to it and now it says The The Tony Alberts Collection Collection.

In this particular case, Matt will perform a search and replace in the database to remove the extra THE and COLLECTION from each Open Registry entry.

Liberty Seated Halves and Dollars in GFRC Open Registry

Users will note that Liberty Seated Half dollar sets remain unavailable. This is intentional as we hope the numismatic expert can find time to review the rarity ratings and make appropriate adjustments. If not, we will go live with Liberty Seated Half dollar sets this weekend.

For Liberty Seated Dollars, I've corresponded with Stephen Petty towards replacing the current 1-10 rarity weight method with the Sheldon scale. Stephen has provided his inputs and Matt will be making the conversion hopefully before leaving for Japan this Friday.

GFRC Consignment Update

More consignments are being committed and should start arriving tomorrow and Friday. This is the pre FUN show rush as collectors wish to have their coins placed for sale at this major numismatic event. On Monday, the Highwoods Collection consignor offered a small denomination United States gold consignment. Following are the contents.

Highwoods Collection

Gold $2.5: 1853 NGC MS62 blazing orange patina; 1856 NGC AU58 choice orange gold; 1878 PCGS AU55

Gold $5: 1878-S NGC AU58

Pleez B. Seated Part 3 Update

I've not heard back from the consignor on recommended pricing proposal. He is probably travel as a holiday week. Already five pieces are on FRoR.

Featured Coins of the Day

Let's close out the Blog with the West Texas early half dimes on this Wednesday morning. If these remain unsold by FUN, then they are heading back to the consignor and probably going to eBay. Any offers are most welcomed at this point in time as GFRC would love to sell a few towards compensation for the listing and marketing efforts.

  

  

  

Thank you for visiting the Daily Blog during the Christmas through New Year holiday week. Yes, the Venice GFRC remains open for your end of year coin purchases. Have a great day!

 

December 27, 2016

Greetings on a holiday week Tuesday morning and thank you for stopping by the Daily Blog.

The major news of the day is the launch of the revised Open Registry module, so let's jump right into that commentary......

GFRC Open Registry Community Project Launch Update

Monday was a hectic but rewarding day as a result of the GFRC Open Registry Community launch. Attempts to diagnose the Microsoft Explorer/Edge login issue resulted in experimentation with my laptop and clearing out cache and historical passwords, then a reboot. So far, the Open Registry is working fine on my system at the cost of losing all auto save passwords (a real pain). But overall, we were pleased with the limited number of phone calls or emails asking for technical support. Matt has an important presentation to prepare for a Decoding Sustainability client and has minimal time to support GFRC issues during the next few days.

Following are some learnings from yesterday.

1. GFRC will not be moving existing sets from the old Open Registry to the new system. Collectors must re-enter their sets and given the intuitive nature of the new system, this should be straightforward.

2. Please be careful when establishing sets. If a set is established, then the multiple listing function for coin entries will place coins in those sets.

3. When selecting a name for Open Registry account, please do not use "The XXXX Collection". Rather simply select a name and the software will bracket your name with "The, Collecton" automatically when displaying sets.

First Day Statistics

I'm pleased to report that within 24 hours of launch, there are 13 participating collectors and 78 sets are loaded. I found time to load my Liberty Seated dime date/mintmark set but still have much to add as many others collectors. Who knows, we may be over 100 sets by the end of today!

Collector Feedback

A GFRC consignor and new Open Registry participant sent along the following email to express his thanks for the Open Registry Community Project release;

Gerry,

Great job to you and Matt for making the new GFRC Open Registry a reality! I have been anticipating the new Registry since first being mentioned in October and it did not disappoint. As a Seated Quarter collector, I believe the biggest problems with other Registry sites have been the ability to add coins of all certifications (including raw coins) and the lack of weighting given to rare dates. The GFRC Open Registry addresses these issues along with a CAC bonus. I have navigated through the new web pages and entered coins from my collection with ease. The site is user friendly and works well on my Chrome browser. I look forward to more added features that will link the For Sale List to the new Registry and recognize the time and effort needed to make all of this happen. Keep up the great work in making GFRC a huge asset to the Numismatic hobby!

Merry Christmas and Happy Holidays, Woodbridge Consigner

GFRC Consignment News

If launching the new Open Registry was not enough excitement for one day, the Pleez B. Seated Part 3 collection was priced and all images processed. Following are the contents of the entire Part 3 consignment. Once offer prices are confirmed, the consignment will be loaded to the price lists. Please note the 1866-S No Motto, 1873-CC No Arrows and low mintage date Philadelphia halves in the Client Gallery.

Pleez B. Seated Halves - Part 3 Collection - December 27, 2016

    

    

    

    

    

    

    

    

    

Consignments Wanted: Early Silver Commemoratives in MS64 and MS65 Grades for China Market

During 2017, GFRC will continue to place emphasis on expanding China sales for quality United States coins. The primary demand area is currently Early Silver Commemoratives. If any GFRC customers have an early silver commemorative set that might be a divestment target, then please contact me as Harry and I have demand for these. CAC approval is preferred but choice original surfaces are important.

Global Financial News

As 2017 approaches, the Chinese economy is garnering attention for potential slow down. China's foreign's reserves have dropped by 25%, a staggering $1 Trillion in the past 18 months, with external capital flight being the primary issue. There are those inside China that worry about a hard economic landing and are moving their fortunes overseas. In this morning's Seeking Alpha headlines, President Xi Jinping sends a signal that the 6.5% economic growth target is not sacred; a powerful statement from the Chinese leader.

Global equities and U.S. futures are largely unchanged as some of the world's major financial markets reopened following a long holiday weekend. Although trading is expected to be thin this week, some are saying that concerns about Italian banks, Chinese growth and an overplayed Trump rally may keep investors on edge into the start of 2017. Is a so-called Santa Claus rally still in the cards?

President Xi Jinping isn't wedded to China's 6.5% economic growth objective due to concerns about rising debt and an uncertain global environment after Donald Trump's election win in the U.S., Bloomberg reports. Xi told a meeting of the Communist Party’s financial and economic leading group that China doesn't need to meet the objective if doing so creates too much risk.

Then there is Japan with its economy in a perpetual state of malaise.

Japan's consumer prices fell for the ninth straight month in November, slipping 0.4% from a year earlier, as the nation struggles to shake off deflation that has plagued its economy. The news comes after Governor Haruhiko Kuroda defended the BOJ's yield curve control and shrugged off criticism that his 2% inflation target was too ambitious.

Featured Coins of the Day

A reminder that the Venice GFRC office remains open through the balance of the week. Purchases would be appreciated as a portion of consignor commissions are allocated to website development projects. There are numerous great coins in GFRC inventory to augment your Open Registry sets! Following are some early date Liberty Seated dimes to consider.

  

  

As always, thank you for checking in at the Daily Blog and for your GFRC numismatic purchases. We are indeed building a strong community and I am quite proud of this fact. Have a great holiday week!

 

 

December 26, 2016

Welcome to the Daily Blog on the day after Christmas.

To be honest, Christmas in Florida for this Maine family was quite an adjustment. We missed the cold weather, the snow and large family get togethers. Christmas Eve activity was a day trip to the Myakka River Park in Sarasota so that Natsumi could enjoy the boat ride and see the numerous alligators.

GFRC Open Registry

The second generation GRC Open Registry is now live but only works reliably using Google Chrome as a browser. We have a bug with Microsoft Explorer/Edge that occasionally blocks the Login In operation.

Secondly, we will be operating the old Open Registry at current link and the new GFRC Open Registry with separate link. The idea is to allow collectors to access their old Open Registry data while porting to the new system. Read on for more details.......

Blog readers are invited to visit and explore this collector community module for competitive set publicity. The new Open Registry offers major enhancements with respect to the old style manual Open Registry. A primary goal was the direct collector management of their sets and removing me as a bottleneck in the Open Registry process. We've simplified the coin entry process and used overlapping coin entries between sets where possible. Matt developed a system that is intuitive while providing considerable functionality and ease of use for average through advanced collectors.

The key goals include;

- An inclusive registry for collectors to showcase both their certified and uncertified coins.
- Increase collector awareness, particularly for Capped Bust and Seated coinage
- Create friendly competition among GFRC community in a fun manner without annual awards or expensive luncheons.
- Free collectors working on top registry collections to pursue the best possible coin rather than being limited to a single third-party holder or forced to cross, which can be a poor financial decisions with CAC'ed coins.
- Add a scoring premium for for CAC approved coins which recognizes the market pricing premium.

Following is a brief tutorial for getting started. Collectors must create a GFRC account with email and password. You will receive a confirmation email for account setup and please save the confirmation email to access the password in the future. There is no automated software to re-issue new password if forgotten.

To get started, click on the new GFRC Login link located on the website banner and input your email and password. This will be the access point for the GFRC Open Registry.

 

Once your account is establisbed, the following screen appears. Please note the new header bar for links to GRC website functions. On the right (in black outline), is starting point for establishing an Open Registry set. On the left is the menu for accessing existing sets for editting.

 

On the below screen capture is an example of the access box for Liberty Seated dime sets. An entry into any one of these sets will population all sets.

 

On the following screen capture is the individual set entry screen. Matt has done an excellent job with an intuitive feel during data entry. He defined all applicable sets for each coin entry followed by adding grade, TPG type from selection menu or uncertified, TPG serial number and CAC approval level. Collectors can also add image link and commentary for each coin.

I would like to sincerely thank Matt for the vaste amount of development work necessary to build the revised GFRC Open Registry. Also, please understand that there is a Login bug with Microsoft Explorer/Edge that we must deal with until eventually resolved. We have not tested GFRC Open Registry on FireFox browser either. The old Open Registry will disappear by end of March 2017 allowing collectors three months to port their sets to the new GFRC Open Registry.

Please remember that the GFRC Open Registry is a free numismatic community project for expanding the hobby with development funding via your GFRC purchases. No other coin dealer invests in these types of module to expand the coin hobby. The existing PCGS and NGC Set Registries are now exclusive to their own products in order to drive more revenue/profit to support these type of functions.

GFRC Consignment News

The Pleez B. Seated Part 3 offerings will be priced today and hopefully all images will be processed for a Client Gallery feature in the next 48 hours.

Featured Coins of the Day

The Venice GFRC office remains open through the balance of the week with a vaste amount of quality inventory. On Christmas Eve, the Port Matilda consignor issued price reductions for many of his offerings. With the new price reductions, the following pieces are a bargain and GFRC customers might pay close attention this morning. Sometimes, there is a Santa Claus in numismatics!

  

  

  

Thank you for returning to the Daily Blog on December 26. The Blog will be available through the balance of the week as preparations are underway for the FUN show in Ft. Lauderdale, Florida next week. Have a great day!

 

 

December 24, 2016

Welcome to the Daily Blog on Christmas Eve 2016 as another year passes by so quickly!

Wishing all Blog readers a Merry Christmas and hope family reunions and parties are a joyful event. In celebration of Christmas Day, there will be no Blog tomorrow rather sleeping in a bit and relaxing with family.

GFRC Consignment News

As promised yesterday, following are highlights from the Pleez B. Seated Collection Part 3. There is a nice ecletic mix of dates in the Part 3 offering. Below are those pieces that caught my eye for combination of overall quality and/or date rarity. The balance of the Pleez B Seated collection will be featured in the December 26 Daily Blog and then loaded onto the price lists.

Pleez B. Seated Halves - Part 3 Highlights - December 24, 2016

    

    

More consignments continue to be committed by email with several arriving just in time for the FUN show. Most significant is the Woodlands Collection consignor who plans to send the following lot this coming week. Please note that every piece is CAC approved and in mint state grade except for the 1846 EF45 date. I'm so pleased to have an influx of quality Liberty Seated dimes.

Woodlands Collection

Seated 10C: 1838 10c Lg stars PCGS MS65 CAC; 1846 10c PCGS XF45 CAC so choice and purchased from GFRC; 1872 10c PCGS MS65 CAC; 1878 10c PCGS MS66 CAC; 1887 10c PCGS MS65 CAC another choice piece from GFRC that has been upgraded

 

Consignments Wanted: Early Silver Commemoratives in MS64 and MS65 Grades for China Market

During 2017, GFRC will continue to place emphasis on expanding China sales for quality United States coins. The primary demand area is currently Early Silver Commemoratives. If any GFRC customers have an early silver commemorative set that might be a divestment target, then please contact me as Harry and I have demand for these. CAC approval is preferred but choice original surfaces are important.

 

So Ends the Daily Blog for Today! See you on December 26.....

 

 

December 23, 2016

Welcome to the Daily Blog on a Friday morning with Christmas Eve arriving tomorrow.

Hurray for the USPS office lines being gone now that the Christmas shipment window is closed. GFRC can once again perform a quick shipment drop off as part of a busy day.

The new Osprey consignment was photographed on Thursday and grand daughter Natsumi took a particular interest in helping her grandpa with the project. She helped carry a few slabbed coins (with two hands) during the multiple sessions and performed a careful image quality review while sitting on my lap. I'm pleased to report that the Osprey coins were nicely photographed and now sit in the image processing queue.

GFRC Open Registry Update

Matt has been literally working non stop on Open Registry development along with training for the Great Wall Marathon given the ideal Venice running weather. I asked Matt to share a summary of his development efforts. He writes.....

The idea to transition Gerry’s Open Registry concept from a sheer brute force initiative to a modern and automated approach is synonymous with many of the GFRC improvements I attempt to tackle. As you have all heard before, Gerry is the marketer, photographer, shipper, customer service rep, website manager, accountant, etc. for GFRC. While I believe he takes pride in the ability to cover all these areas, it can stretch him a bit at times. Additionally, the all-hands on deck mentality can result in business approaches that work but are far from optimized.

Much like the automation trend that is and will continue to occur around the world, my priority is to allow my father do more in less time. Rebuilding the GFRC inventory database to allow for automatic website generation (COIN system) was the first step. While smaller improvements have been made, the Open Registry marks the next big step.

The Open Registry concept was started nearly a decade ago and concisely summarizes two characteristics of my father – brute force determination and competition. Alas, the Open Registry was ultimately a victim of those same characteristics, which drove GFRC’s success but placed the Registry in a dormant state to the disappointment of many, none greater than my father's.

That is all about to change as I can confidently say that the Open Registry will return shortly in its rebuilt format. Staying true to the original version, any collector will be able to submit both certified and raw coins directly into any one of the currently 43 different available sets using an online form. Where input coins overlap identically with multiple sets, they will automatically add to each applicable set (this functionality required a code rewrite and was the cause of the launch delay). Upon submitting a coin, your collection metrics will automatically update on the public index – let the keeping up with the Jones begin... Full details will become available upon launch.

GFRC Consignment Update

Saw Mill Run Collection

Over 40% of the consignment is now sold or on hold. Thank you to everyone who had a Hell Yes! moment and added one of these outstanding pieces to their collections.

Upstate New York Collection

The latest Upstate New York offerings are fully loaded and described. Let the sales process begin. Already a kind soul has decided to give the 1861 Seated half, entombed in PCI holder, a new loving home.

Pleez B Seated Part 3

These lovely Seated halves will see their images processed today and I may have some to share in Saturday morning's Blog.

Osprey Collection

New offerings are photographed.

Wisconsin Collection

These lovely offerings reached the price list during evening hours and already the 1862 Seated half is on hold. Great coins don't last long at GFRC. Please pay attention to the 1873-S Traded dollar graded PCGS AU58 CAC. If in the market for an absolutely stunning Trade dollar, then this is the piece for you.

Wisconsin Collection Consignment - December 23, 2016

    

Global Financial News

Global currency markets are on hold as the holiday season arrives. Everyone is expecting a strenghtening US Dollar during 2017 based on the Federal Reserves' forecast for more interest rate increases. A strenghtening US Dollar will continue to place press on gold prices.

It's hard to find a pulse in the currency market today as dealers pack up for the holidays, though the mood remains bullish for more dollar gains in the New Year. "Yields spreads should attract more capital into the USD," said Ray Attrill, global co-head of forex at NAB. The dollar index is marginally higher at 103.05 and within striking distance of the week's 103.65 peak.

Brexit vote has not impacted the U.K. economy as growth remains sustained at a 2.3% annual level.

The U.K. economy grew faster than previously thought in the three months following June's vote to leave the EU, according to fresh estimates that suggest there was no significant post-referendum slowdown. GDP growth rose 0.6% compared with initial estimates of 0.5%. On an annualized basis, the figure was revised to 2.3%, up from 2% previously.

Saubi Arabia continues to adapt to lower oil prices and reforming its economy. I would sure love to see sub $3 gasoline prices through the end of the decade.

Saudi Arabia will gradually link domestic energy prices to international benchmarks over the next few years as the kingdom seeks to deepen economic reform and balance its budget by the end of the decade. Energy Minister Khalid al-Falih said poorer Saudis hit hard by the end to subsidies on utilities and fuel would be compensated with monthly cash deposits.

Featured Coins of the Day

I'd like to remind Blog readers that the Saw Mill Run consignor previously consigned an important lot of Liberty Seated quarters and several of those offerings remain available. Yes, collecting Liberty Seated quarters is not for the faint of heart as this denomination heavily circulated throughout the United States. Locating choice original examples of certain dates could take a decade or more. Following are some Saw Mill Run offerings to consider.

  

  

  

Thank you making a stop at the Daily Blog a regular part of your busy day. At GFRC, every day is special and I'm so pleased to be sharing quality coins and personal insights with the numismatic community. Yes, I will be back, live from Venice Florida, on Christmas Eve with another edition of the Blog. Have a great day!

 

 

December 22, 2016

Greetings on a Thursday morning before Christmas weekend.

Occassionally, a morning arrives where these is absolutely no content ideas for the Daily Blog. This is one of those mornings. I had originally planned to conduct a review of the individual online new media outlets and showcase the far ranging opinions coupled with the extensive filler content or "noise". Instead, I spent the evening on a much more worthwhile endeavour; playing with Natsumi with color crayons and teaching geometric shapes. The experience was priceless and you, my dear Blog readers, have no content as a result......

GFRC Open Registry

I prematurely announced the Open Registry module back in mid October as the development effort was just not ready for prime time. Many users of the Open Registry were disappointed and I apologize for this fact. During October/November timeframe, Matt's Decoding Sustainability consulting business grew quickly leaving no time for GFRC development support.

Since arriving in Venice, Matt has spent days on completing software development. When a genuis is at work, it is best to not disturb him, rather patiently waiting for the outcome. We've discussed a few options including individual coin entry re-use between certain sets but otherwise, the development effort has been an incredibly focused and personal challenge for Matt. When ready, I will ask Matt to write the introduction and feature here in the Daily Blog.

Daily Blog Reader Feedback

During Wednesday Blog, I mentioned that the stock market has increased too quickly since the Trump election. Dale Miller, LSCC Secretary and Treasurer, sent along the following commentary in response to the observation.

Hi Gerry,

I saw your blog this morning about the stock market. I am among those who fear that the rally has gone too far, too fast. 

One analyst reported that if the bull market ended right now, it would be the second most richly valued top in history in terms of trailing P-E ratio.

The one thing that tempers my concern is your report that the Dow Average first hit 10,000 in 1999. That's 17 years ago.  Applying the Rule of 72, it implies a compound growth rate of just over 4%.  That is certainly not unreasonable, and lower than longer term averages.

In my opinion the best case scenario would be if the market traded pretty flat for a year or two, rather than making a precipitous drop, allowing earnings to bring valuations back to a more reasonable level, and for more realistic expectations to be priced in on how much of President Trump's tax, trade, and regulation policy will be enacted and how much it will impact the economy.

GFRC Consignment News

Saw Mill Run Collection

The Saw Mill Run Collection reached the price lists at 11:00am on Wednesday morning including being posted at the Featured Collection module. Another wave of orders arrived throughout the day and during overnight hours. Nearly 35% of the collection has been sold within several days of being posted as a Client Gallery and I'm sure a few more pieces will sell today. There is no doubt that the Saw Mill Run Collection is a Liberty Seated collector's dream in terms of quality. In the Featured Collection opening description, the owner states the following.....

As I continued to learn and study the specific issues in the set, the inclusion criterion for new purchases evolved into a binary "hell yes" or no and I reached a point where it was a very rare event for me to find a coin for sale that I like better for its grade than the one in my set. To be included a coin had to grab my attention immediately, continue to impress under close examination with a glass, and then still make me love it after I had owned it for a few months.

The binary "hell yes" statement accurately describes the feeling I have for many coins in my collection and the rudimentary decision process for accepting a coin when purchased via mail. Great coins simply speak to you when first viewed. The same "hell yes" thought process is employed for JUST BUY IT NOW recommended coins on GFRC price list. If you see a JUST BUY IT NOW recommendation, then it is a "hell yes" moment when adding the coin to inventory.

Upstate New York Collection

Offerings from this collection reached the price list last evening and full descriptions will be added this morning.

Pleez B. Seated Part 3

Attention shifts to the balance of the Pleez B. Seated Collection today. Image processing, loading into COIN system and price setting are the tasks before we can go live at some point during Christmas weekend.

Global Financial News

Global markets are on hold this morning as the Christmas weekend approaches. Even Seeking Alpha headlines are dull and none worth sharing.

Featured Coins of the Day

The Wisconsin Collection consignor suggested price reductions for his older material. So let's conduct a feature on those coins with the new prices and hopefully, a customer will emerge today. Following are the coins with reduced prices; 1847/1847 NGC EF45 Large Cent - $125, 1865 PCGS MS63 OGH 3 Cent Nickel - $150, 1884 NGC AU58 Liberty Nickel - $150, 1861 PCGS VF35 Seated Half - $140 and 1896 NGC MS63 Toner Morgan - $195.

  

  

So ends another Daily Blog edition. I hope that everyone's Christmas shopping is done and we can all relax during the coming weekend. Thank you for stopping in and yes, I'll be back on Friday morning with more to say. Have a great day.

 

 

December 21, 2016

Greetings on a Wednesday morning and thank you for stopping by the Daily Blog.

Venice weather continues to be absolutely outstanding for late December with the balance of the week's forecasted highs at 80F. During the Maine to Florida transition, I packed a decent amount of warm clothes anticipating at least one cold week. So far, so good.

Today's Blog edition will be brief as the past several days have been intense with shipments, Saw Mill Run description writing, Shanghai order follow-up and on and on. Last evening, the Fortin and Yamatin family took a break and went out to dinner on Venice Island (The Daiquiri Deck) followed by an early bedtime. Natumi is enjoying herself and spent afternoon time in the clubhouse pool but slept through dinner allowing the adults to enjoy each other's company.

GFRC Consignment Update

Saw Mill Run Collection

Today's primary goal is publishing the Saw Mill Run Collection on all price lists including the new Featured Collection link. Two more Saw Mill Run offerings sold yesterday; so 20% of the collection has sold via the Daily Blog/Client Gallery before reaching the price list. Let's see what happens in the next 48 hours after the balance is published on conventional price lists.

Upstate New York Collection

Loading into the COIN system today and completing the balance of image processing. Already one offering is sold.

Pleez B. Seated Part 3

Photography is completed so the next step is loading into COIN system and establishing retail prices for Alexandria consignor approval. Then comes the image processing and another Client Gallery.

Osprey Collection

In the photography and COIN system loading queue.

Wisconsin Collection Consignment

A two piece consignment arrived from the Wisconsin Collection consignor on Tuesday. These are absolutely awesome offerings with prices already set!

Seated 50c: 1862 PCGS AU55 CAC with lightly mirror fields, teal centers surrounded by golden rings....a gem.

Trade $1: 1873-S PCGS AU58 CAC frosty cartwheel luster with light gray-gold patina....another gem and the finest Trade dollar handled by GFRC to date.

Mountain Collection Consignment

I received a phone call from this new consignor yesterday afternoon. Some background is necessary...at the 2015 Summer ANA, this individual consigned a lovely 1845 PCGS AU58 CAC Seated dollar that was sold several months later. Now he is back with three more Seated dollars, all PCGS AU58 and dated 1843, 1847 and 1849. These will arrive next week just in time for the FUN show.

Global Financial News

The Dow Jones average appears ready to break through the 20,000 level today. P/Es continue to inflate and there are those who believe this rally has gone too far too quickly. Spot gold continues to trade at $1135/oz while spot oil is being quoted at $53.60 this morning.

The Dow Jones industrial average is within striking distance of 20,000 and some investors believe that piercing that level would signal the recent rally may continue. The U.S. stock market as a whole has added $1.6T since the election of Donald Trump on bets that his plans for deregulation, tax cuts and infrastructure spending will boost the economy. The Dow first hit 10,000 in 1999.

I'm so glad that the Yamatins are in Venice and not Beijing....

Relief could be in sight for areas across northern China that have been choking under a blanket of thick smog for days. Over 400M people have been affected by a "red alert," the highest level in China's pollution warning system, but the threat may be lifted tonight in Beijing and elsewhere. The haze has spurred authorities to cancel flights, close some highways and enact other emergency measures to cut down on air pollution.

And another case of collusion among the too big to fail banks....fines are paid as part of normal business operations.

The Swiss Competition Commission has fined several European and U.S. banks almost 100M Swiss francs ($97.3M) over interest rate cartels, the latest punishment dished out in connection with rate-rigging scandals. The largest was a 33.9M Swiss franc ($32.9M) penalty for JPMorgan. Other banks that were fined include RBS, Deutsche Bank, Citigroup, Barclays, Credit Suisse and SocGen.

Featured Coins of the Day

Let's visit the United States gold price list this morning for some of my favorite $20 double eagle offerings that will be on display at the FUN show. The most recent Osprey consignment will add even more early date and mintmarked pieces to the bourse cases. How can you go wrong building a collection of $20 gold at current gold bullion prices?

  

  

  

So concludes yet another Daily Blog edition. Time for reheated pizza for breakfast and completing the Saw Mill Run Collection descriptions! I'll be back tomorrow with yet more ramblings. As always, happy hunting and thank you for stopping by for your daily numismatic fix.

 

 

December 20, 2016

Welcome to the Daily Blog as the Christmas weekend approaches quickly.

The past 24 hours brought more disturbing news from Europe along with the official election of Donald Trump. The United States presidential election is behind us and hopefully the same for media noise. We can only wish.....

Here is Venice, GFRC continues to process new consignments along with shipping orders. Matt is working diligently towards completing the Open Registry module. His environmental consulting business is growing leaving little time to support major GFRC website enhancement projects. While in Venice, time is being allocated. Yesterday, a mathematical algorithm was development to add higher Open Registry numerical weight for CAC approved coins.

GFRC Consignment News

The Saw Mill Run Collection debut, as a Client Gallery, brought a record number of hits to the Daily Blog; over 1450 hits combined for Sunday and Monday. Eight coins are on hold with more being quoted.

I worked late into the evening to prepare the Upstate New York Collection images for today's Blog. Following are nine of the thirteen pieces and indicative of the old album type toning pursued by this individual. As with the Saw Mill Run Collection, FRoR is in order. The consignor has already provided retail prices so straightforward to respond to inquiries.

Upstate New York Collection Consignment - Old Album Toning - December 20, 2016

    

    

    

Ft. Lauderdale FUN Show Reminder

The FUN show is a little over two weeks away as preparations continue. Just yesterday, David Perkins and I received confirmation that Osprey has been added to the GFRC table as an assistant and will be covering the table on Friday morning, along with Diane. Friday morning brings the LSCC meeting at 9:00am, which I am hosting. Then at 11:00am, I will be presenting a discussion entilted "Developing a Passion for Liberty Seated Dimes".

Following is the massive FUN show bourse map and a guide for quickly locating Gerry Fortin Rare Coins and W. David Perkins at tables 1825 and 1827. Visiting the GFRC table is an imperative if you are a fan of Liberty Seated coinage and United States gold. GFRC will have the broadest offering of Liberty Seated dimes, quarters and halves on the entire bourse floor including Top 100 Seated Dime varieties key dates; 1839 Pie Shattered Obverse PCGS EF45 CAC, 1841-O Transitional Large O Closed Bud PCGS AU55 GOLD CAC and 1874 Polished Arrows NGC Mint State Details.

Gerry Fortin / David Perkins Booth Location - Winter FUN - Ft. Lauderdale, Florida

Global Financial News

Spot gold is struggling at $1135/oz this morning as the US Dollar continues to climb back to 14 year highs. The Euro is weakening and estimated to be a parity with the US Dollar and may remain there for years as the United States tightens monetary policies. I am so glad that Chikae, Natsumi and Matt are residing in Venice and not Beijing based on the second Seeking Alpha headline. A red alert air pollution alarm is in place for Beijing due to winter coal burning and resulting air pollution. Finally, Japan will remain its current monetary policy of negative interest rates and more QE.

The dollar is climbing back towards a 14-year high after Janet Yellen flagged strength in the U.S. jobs market, while fallout from attacks in Germany, Turkey and Switzerland are putting pressure on the euro, pushing the currency firmly back below $1.04 (see both below). Many economists have predicted parity with the greenback for years, arguing that the dollar would appreciate as the Fed embarked upon a path of monetary-policy normalization, but those forecasts didn't look likely to pan out until recently.

Smog in northern China including the capital city of Beijing reached hazardous levels for the fourth straight day on Tuesday, highlighting the fallout from resurgent coal production and related demand in the world's second largest economy. A "red alert" - the highest level in China's four-tiered pollution warning system - across 24 cities has canceled flights, closed off highways and shut down schools and factories.

The Bank of Japan has finished a tumultuous year for monetary policy with an upgrade to its economic assessment, while keeping its negative rates, yield-curve and asset-purchase programs unchanged. Stating that the economy continues to recover moderately as a trend, the central bank signaled its conviction that a generally weak yen and a rebound in overseas demand will lift prospects for a solid recovery.

Closing Comments.

That is about all for today's Blog. Another busy day is at hand including more Shanghai coin orders, photography of the latest Osprey consignment and loading Upstate New York, Pleez B. Seated Part 3 and Osprey consignments into the COIN system in time for the FUN show. Thank you for stopping by this morning and please do consider a purchase so I can pay GFRC staff their annual bonus.......

 

 

December 19, 2016

Greetings on the Monday before Christmas and welcome to the Daily Blog.

It is wonderful to have a full home with much activity. Natsumi is a bundle of energy as Matt and Chikae deal with jetlag. The GFRC office remains a quiet sanctuary with Big Head Todd and Monsters' Crimes of Passion to accompany Saw Mill Run Client Gallery preparations. Most Blog readers may not have heard of this 2004 rock/indie recording but it comes highly recommended. There are several ZZ Top like rocker tunes while the balance is soft comfort music for a consumed mind.

GFRC Consignment News

There is not much to be said concerning the Saw Mill Run Collection after viewing his Client Gallery. This collection is purely original with conservative grading at the EF through AU grade levels. A collection of this statue is a decade long pursuit with strict purchasing standards. Dealer relationships are also paramount to acquire first shot when spectacular coins arrive in inventory. More than half of the Saw Mill Run pieces were purchased from five well known dealers with GFRC supplying eleven pieces into the collection. Heritage was a source for less than 10%.

The Saw Mill Run consignor should be incredibly proud of his accomplishment and I'm so pleased to offer his Client Gallery. Enjoy!

Saw Mill Run Collection - Amazing Originality - December 19, 2016

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

  

So ends the Saw Mill Run Collection Client Gallery. Price list debut will be on December 20. Until that time, please feel free to make email inquiries on pieces of interest. A reminder that this set took over a decade to build and the individual pieces are mostly gems or choice examples for the assigned grade. These will not be inexpensive as the consignor paid strong premiums to acquire many.

Osprey Collection Consignment

GFRC consignment backlog is substantial with the FUN show looming. After screening three PCGS blue boxes of coins with Osprey on Thursday, the following pieces are being consigned. Please note the important group of United Stated $20 Double Eagles including 1851 PCGS AU53, the challenging 1854 Large Date PCGS AU53, 1861 PCGS AU58, 1869-S PCGS AU58 and the 1889-CC PCGS AU53. Here comes the latest offerings from the Osprey Collection.

Seated 10c: 1839-O F-104 PCGS VF35 CAC very early die state

Capped Bust 25c: 1835 ANAC EF40 Old White Holder

Seated 25c: 1877 PCGS MS61

Capped Bust 50c: 1823 PCGS XF40; 1824 NGC XF45 CAC; 1836 PCGS AU50 CAC

Seated 50c: 1845-O PCGS AU50 CAC a gem!; 1870 NGC AU58

Morgan $1: 1884-O NGC MS65+ lovely toning

US Gold $2.5: 1847-O NGC XF45

US Gold $5: 1838 NGC AU58 CAC

US Gold $20: 1851 PCGS AU53; 1854 Large Date PCGS AU53; 1861 PCGS AU58; 1869-S PCGS AU58; 1889-CC PCGS AU53; 1897 PCGS MS63

France 1 Franc: 1806-A PCGS AU53

Global Financial News

Spot gold is up a tad this morning at $1141 and hopefully the precious metal's swoon is over just in time for the FUN show. Several Seeking Alpha headlines caught my attention this morning. Australia's economy is forecasted to slow over the coming years due to an end of a long mining boom while Indonesia will simply remove several "0" from its currency's face value.

Australia downgraded its growth forecasts overnight and predicted larger than expected budget deficits over the next four years, heightening concerns the country could lose its AAA credit rating. The resources-driven economy has enjoyed more than 20 years of growth but is now transitioning out of an unprecedented mining investment boom.

Indonesia's central bank is looking to revive a previously shelved plan to slash three zeroes off the face value of its rupiah notes. Bank Indonesia Governor Agus Martowardojo told President Joko Widodo the proposal would make the currency "more efficient and simpler." The largest rupiah denomination is currently 100,000 and the smallest note is 1,000.

Closing Comments

There has been substantial content in today's Blog and time to prepare breakfast and then spend time in the packing and shipping department. I'll be back tomorrow morning with more ramblings and hopefully a few highlights from the Upstate New Year consignment as FRoRs are already arriving for his latest offerings.

 

December 18, 2016

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

The Yamatins have arrived to Venice home with their precious cargo, Natsumi. After flying from Beijing to Tokyo then Chicago and finally to Tampa, the Yamatin family is settling into our home. While I type the Blog, Matt is already out running and enjoying fresh clean air as compared to that of Beijing. He is training for the Great Wall Marathon that will be held May 2017.

On Saturday evening, the Tampa airport pick-up was not without incident. When exiting the cellphone waiting area for picking up the Yamatins, I made a wrong turn and immediately exited the airport by mistake. For those who use and know the Tamp airport, this mistake is serious as the first I-275 turnaround exit is over 10 miles south in St. Petersburg. We recovered with a 1:00 am arrival back to Venice.

GFRC Consignment News

Other than spending Saturday processing Saw Mill Run Collection images, there is little to report. Sales are in the seasonal doldrums as much of America is struggling with brutally cold weather or is out conducting holiday shopping.

Saw Mill Run Collection

Following are some Saw Mill Run Collection highlights to wet your appetite. If all goes to plan, the entire 50 piece Client Gallery will be available on Monday morning (for another round of FRoR) with the set reaching the Featured Collections price list on Wednesday along with other price lists that day. In other words, the Saw Mill Collection will debut this coming Wednesday.

Saw Mill Run Collection Highlights - December 18, 2016

    

  

Seal Beach Collection

I'm pleased to report that three of the seven pieces highlighted in Saturday's Blog are on hold. These are the 1841-O, 1857-O and 1861 dated examples.

Pleez B Seated Part 3 Seated Halves

Part 3 halves will be photographed today as Venice weather will be ideal with with 83 degree high temp and bright sunshine.

Upstate New York Collection

Same here, in the photography queue.

Featured Coins of the Day

Gold CAC Mercury dimes are typically found in early PCGS Rattler or NGC Fatty holders as grading was quite conservative during the late 1980s. These are priced in the $135-$185 range and would be a great Christmas gift given their numismatic history and quality. Following are some recommended example for potential gift giving. For existing GFRC customer, I can ship these on approval during Monday or Tuesday...with arrival just in time for Christmas Eve.

  

  

So wraps up this Sunday edition of the Daily Blog. Time to enjoy family and a second cup of hot coffee. I will be back on Monday morning and hopefully, with the entire Saw Mill Run Collection in a wonder Client Gallery. Have a great day!

 

 

December 17, 2016

Welcome to the Daily Blog on a Saturday morning with only seven days left until Christmas Eve.

The significant event of the day is Matt, Chikae and Natsumi returning to the United States and spending several weeks in Venice for the holidays. Already the Fortin condo is nicely decorated for Christmas and filled with large sized legos, a ginger bread house kit and other assorted toys to make Natsumi's visit memorable. 80 degree weather and the ability to spend time in the pool will be welcomed after the colder Beijing climate.

On the numismatic front, GFRC continues to move forward with consignment processing, sales and shipping. The order rates from China collecting community is accelerating with a planned trip to Shanghai in the April/May timeframe for a GFRC sponsored sales and educational numismatic event. The Saw Mill Run images are taking shape and I'm so excited about the upcoming Featured Collection debut next week.

GFRC Consignment News

Seal Beach Collection

This morning brings another Seal Beach Liberty Seated half dollar Client Gallery display. Seal Beach is an extremely focused Seated half dollar collector and is constantly upgrading and moving along duplicates via GFRC. Below are the newest duplicates that need to find new homes. All seven pieces are loaded onto the price lists with the 1841-O WB-1 PCGS AU53 CAC and the 1857-O PCGS AU55 being on hold. The balance are immediately available.

Seal Beach Collection Consignment - December 16, 2016

    

    

Upstate New York Collection

Friday brought the arrival of another Upstate New York Collection consignment. This old time collector continues his divestment project with the "best'' pieces now being released. Collectors well understand the divestment process....we release our least favorite pieces first, then moving up the ladder towards the top tier coins. The Upstate New York consignor indicates that he is approaching the top of the ladder and I must agree after opening and reviewing his latest offerings. This individual's speciality is nice old album toning. Following is a quick list for your consideration and FRoR.

Capped Bust 25c: 1838 PCGS AU55 choice original with aquamarine-rose toning

Seated 25c: 1853 A&R NGC MS61 gem with gorgeous Wayte Raymond bullseye patina; 1873 Arrows PCGS EF45 another gem with radial old album toning; 1877-S PCGS MS64 CAC satiny luster and pretty toning

Draped Bust 50c: 1803 Lg 3 PCGS VF25 CAC choice original gun metal gray

Capped Bust 50c: 1810 PCGS EF45 choice gray-gold; 1813 PCG VF30 choice old album aquamarine-rose; 1819 PCGS VF20 perfectly original gray; 1825 PCGS EF45; 1832 O-103 NGC AU53 choice gold-rose with blue rims

Seated 50c: 1844 PCGS AU50 light old album blues with gray centers; 1861 PCI AU50...don't laugh, this is a marvelous piece that is full AU55 with lightly mirrored fields and classic center rose surrounded by blue ring; 1870 PCGS VF25 old album rose-blue and CAC possibility.

Closing Comments

There is much to be accomplished today before Matt and family arrive into Tampa this evening. Therefore today's Blog will be brief.

Having a great weekend and please do consider a GFRC purchase.

 

December 16, 2016

Greetings on a Friday morning from Venice office.

West Coast Florida temperatures are seasonally above average and will remain so during the upcoming week. Daytime highs are forecasted to be near 80F and will be ideal for when Matt, Chikae and Natsumi arrived tomorrow for their Christmas holiday break. As a reference, Raymond Maine is currently at -4F while Beijing is warmer at 28F. The following image illustrates why Florida continues to experience a housing and population boom as more snowbirds escape northern polar vortexes during winter months. This lovely flowing shrub is located to the left of our front door.

Liberty Seated Dime Web-Book News

A portion of Thursday's time was allocated to Seated dime web-book updates including the addition of a terminal die state page for the 1839-O F-105 die pairing, a strong and weak strike pictorial comparison for the 1843 F-101a variety/die state and a plate coin improvement for the 1876-CC F-132 variety. The latter was provided by Jim Skwarek and has the ideal gray surfaces to illustrate the variety. Below is a pictorial summary of the web-book updates with the 1843 F-101a PCGS MS62 dime being for sale.

1839-O F-105c Terminal Die State

        

Example of 1843 F-101a Polished Obverse and Eroded Die Reverse

      

Super Example of 1876-CC F-132 Die Pairing From Jim Skwarek

        

GFRC Consignment News

Osprey made a visit to the GFRC office on Thursday and a great time was had reviewing coins for three hours. The visit provided a chance for Osprey to view the entire Saw Mill Run Collection with one of the half dimes being purchased. We also went through three PCGS blue boxes of coins brought by Osprey for potential consignment. Some pieces were obviously undergraded and will be resubmitted while others deserved a trip through CAC. It was an enjoyable time viewing so many fresh coins including 1850 and 1854 Large Date $20 double eagles.

Seal Beach Consignment

Another group of Seal Beach Seated halves arrived. I worked late to price these and GFRC has been authorized to sell immediately. Photography will take place today.

GFRC now has a substantial consignment backlog sufficient for the FUN show. I will not be taking further consignments between now and FUN given the workload necessary to absorb and properly market Osprey, Seal Beach, Pleez B. Seated and Upstate New York consignments. New consignments are welcomed and requested at FUN and the days following the show.

 

Global Financial News

Spot gold continues to fall as the US Dollar achieves a 14 year high against other major currencies. It appears that investors believe a strong uptick in the United States economy is forthcoming along with additional interest rate increases. Spot gold sits at $1136 this morning. Following are important Seeking Alpha headlines with the China RMB : US Dollar exchange rate being quoted at nearly 7.0 this morning. It was 6.65 during GFRC November Shanghai show.

Global markets are stable overnight, and the euro, yen and pound all recover a bit of ground against the dollar, as the greenback surged to 14-year highs vs. the euro and a broader basket of currencies yesterday as markets repositioned for a faster pace of Fed rate hikes over the next year. The yen has plunged 11% vs. the dollar since Pres.-elect Trump's election victory last month, surpassing the Mexican peso's 10% slide to become the worst performing major currency during the period. The weaker yen will make Japan’s exports more competitive and could boost growth, and the Nikkei index has gained for eight straight days, but bond prices have been under pressure amid a global debt selloff. In China, fears that a rising dollar will destabilize trading in the yuan has sent the currency to its lowest against the dollar in more than eight years and raised concerns that outflows could increase

"Gold has gotten smoked," as futures prices plunged $33.90/oz., or 2.9%, yesterday to $1,129.80 for the lowest settlement since Feb. 2 and the largest single-day dollar and percentage loss since Nov. 11. The yellow metal has inched higher overnight but is on track for a sixth weekly loss that has been driven by a more aggressive Fed, investor enthusiasm about Pres.-elect Trump’s policies and ETF sales. As of Thursday’s close, gold had retreated 17% from July’s high, nearing the 20% loss that commonly defines a bear market.

This headline was surprising as I did not realize that Japan held such a large portion of United States Treasury debt.

Japan has overtaken China as the biggest holder of U.S. government bonds, as figures for foreign ownership of U.S. Treasurys in October show that China's holdings declined to the lowest in more than six years as its central bank used its foreign exchange reserves to support the yuan. Japan's Treasury holdings also decreased but at a slower pace; Japan trimmed $4.5B of U.S. paper to end the month with $1.131T, while China's holdings plunged by $41.3B to $1.115T, the lowest level since July 2010 and capping a decline of five straight months. China has been dipping into its reserves, selling Treasurys to support the yuan, which yesterday fell to its weakest level vs. the U.S. dollar in more than eight years.

GFRC Price Reductions - December Sales Doldrums

December is probably the weakest month of the year for numismatic sales. Collectors are consumed with holiday preparations and disposable income being allocated to holiday gift giving. Several GFRC consignors wish to sell their coins towards raising cash for the upcoming year or for personal expenses. On Thursday, I lowered prices on the PBG Seated halves by substantial amounts along with other select offerings. Look for New Price markers on the price lists.

I will also be repricing some gold coins today where spot gold bullion is the dominate parameter in price setting.

Featured Coins of the Day

Draped Bust halves are an important area of early Americana. GFRC continues to selectively add nice quality pieces to inventory. Following are several for your consideration on a Friday morning.

  

  

Your daily visit are welcomed and appreciated. Thank you for stopping by at the Daily Blog. I will be back Saturday morning with Seal Beach Seated half dollar images and other regular ramblings.