Black Friday Sale - Starts in


Gerry's Daily Blog

November 19, 2017

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

Today's edition is written during the Sunday morning and afternoon hours; the final day of the Shanghai Yunzhou coin show. The Sunday bourse traffic can be best describe as moderate with some dealers already having packed up and left. The rush of collectors at the Friday and Saturday openings was substantial but local collectors routinely appear during the afternoon hours on Sunday. Shanghai weather has shifted from two days of clouds and rain to blue skies with cooler temperatures. Monday's weather for Newark return flight should also be pleasant. The Four Coin Show in Four Weekends event wraps up today and I'm definitely looking forward to being back in the GFRC office processing images and loading new offerings on the price list to stimulate sales concurrent with the Black Friday event.

Shanghai Yunzhou Coin Show Report - Day 2-3

GFRC enjoyed decent sales on Saturday. The bourse was active throughout the day with attendance thinning out about 3:30 pm and the bourse closing at 5:00. Floor "buzz" was loud due to the smaller room size and medium height ceiling. Chinese people are known for speaking loudly in restaurants and the bourse was no different with a dull roar throughout the day. Sunday traffic was light with many individuals seeking "advice" on coins of questionable origin. One collector had a 20 piece fresh submission box from NGC and requested my thoughts on three S- Mint Standing Liberty quarters graded AU58, AU58 and AU55. All three had been dipped with the AU55 having residual PVC on the reverse that had not be properly removed before submission. NGC China graded the piece and I adviced the collector that he should sell this one at first opportunity. Other collectors arrived with copy coins often seen in the local markets.

What type of United States coins did GFRC sell on Saturday and Sunday? Chinese collectors tend to favor larger sized silver coins and gold. Therefore expectations were for Morgan and raw gold sales since stocking a nice selections of both. Actual results were different with a nice sales mix across all product lines except Morgans. Raw gold, Walking Liberty halves, Buffalo nickels, Indian cents and the Swiss 2 Franc silver piece graded PCGS MS66 found new homes. The lack of Morgan sales is the result of my bringing only toner examples and better dates. Local collectors struggled with asking prices for nicely toned Morgans as there is still not an understanding of the pricing premium that is commonplace in the United States market. No customers appeared for better dates.

Overall, the Yunzhou met expectations. Sales are always unpredictable on the bourse.

 

Black Friday Sale Update

Matt quickly enabled the Black Friday Sale banner on the For Sale page and the countdown clock is active. Price reduction emails arrived from about a half dozen consignors in the past 24 hours with ample listing to populate the discount list. I'm sure that more consignors will indicate their participant prior to Tuesday deadline.

 

GFRC Florida Transition - Where to Mail Check Payments

Several customers emailed concerning the GFRC mailing address for near term check payments. Currently, GFRC will be transitioning to Venice, Florida office on the weekend of December 8-9. Purchase payments can still be mailed to the Maine address through December 1 with certainty of arriving before our departure. Here are current guidelines to avoid having a mailed check end up in USPS forwarding loop;

Maine Address - Through December 1

No Payments Mailed - December 2 through December 6

Florida Address - Starting December 7

 

LSCC Premier Membership Medal Update

Jeff Ball sent along an email reporting that seven orders for the one ounce silver medal have already arrived but so far none for the four piece copper, silver and gold set. LSCC treasury fund raising is tied to sales of the four piece set while the single silver medal is being sold at production cost to enable a high membership participation rate. Further marketing of the Premier Membership Medal program will take place in the December E-Gobrecth and definitely at the Tampa FUN show.

Progress is being made with Moonlight Mint and we anticipate the first review of the medal's digital sculpture design shortly and striking to take place in January. We are targeting 150 pieces for the first production run of the silver Premier Membership.

 

Wrapping Up the Blog

Monday brings return flight to Newark and connection to Portland, Maine. A quick check of the Shanghai to Newark seating map shows a nearly full flight in Economy Plus as ex-pats are returning home for Thanksgiving. It appears that I will be watching another 4-5 movies on this flight and finishing Thomas Jefferson and the Tripoli Pirates by Brian Kilmeade to pass the time. Without an empty middle seat it is nearly impossible to get image processing work done due to the size of my laptop.

The next Blog will be written from the GFRC office. Thanks for checking in and selecting GFRC as a numismatic source.

 

 

November 18, 2017

Greetings from Shanghai and welcome to the Daily Blog.

Shanghai weather has been damp and rainy on Thursday and Friday. I'm always stunned at the rate of change in Shanghai. Familiar restaurants transition to other businesses. The Jin'an District is a combination of modern high rise buildings and the well preserved tenament buildings from 1940s Shanghai. As you can imagine, people density is quite high and walking on sidewalks on rainy days is challenging with umbrellas everywhere. The Shanghai subway system is an engineering marvel as 12 different lines can take you to all points in Puxi and Pudong. Subway usage is an inexpensive $0.75 and critical to moving millions of residents through their daily commutes. Overall, Shanghai is an amazing place and ranks with Singapore as my two favorite cities in the world.

 

Shanghai Yunzhou Coin Show Report - Day 1

The Yunzhou bourse floor has been reorganized this year and the improvements were welcomed. The outer room perimeter still has the tall traditional booths as is the case for GFRC. Gone are the tall booths in the center of the room and replaced with desk height glass display cases. The change made the room more inviting and generated a louder "buzz" at the height of floor traffic. Also important was the strick enforcement of smoking ban on the bourse floor. Below is image taken during dealer setup. The GFRC booth is located at the upper left and is marked on the image.

The bourse floor opens daily at 9:00 am for dealers followed by public admission at 9:30 am. Friday's opening was dramatic with a rush of collectors pouring onto the floor and business kicking off immediately. Whether in the United States or China, collector behaviors are the same.

Shanghai Yunzhou Bourse Floor - Dealer Setup

 

GFRC enjoyed immediate business during Friday's show opening as I can count on Mr. Sun (Gansu Collection consignor) to arrive early. Mr. Sun is a passionate collector and typically flies into HongQiao airport, spends the night there and then arrives for the Yunzhou show opening with a beeline to GFRC. During the April 2017 GFRC event, Mr. Sun ordered a set of $20 No Motto St. Gaudens (1907, 1908, 1908-D all PCGS MS63/MS64) and transferred a consignment. At this show, Mr. Sun retrieved his order and was most pleased with the No Motto set. Thanks to help from GFRC customers, I was able to sell about half of Mr. Sun's April consignment and the monies paid for about 60% of his St. Gaudens order. Mr. Sun was so pleased with the service that he ordered an additional $20 No Motto set and added $10 No Motto Indians also. Then came another substantial consignment as Mr. Sun is actively divesting his Walking Liberty half dollar and Morgan dollar collections towards building up a large US gold coin collection. In closing conversations, he indicated a desire to build five sets of $10 and $20 No Motto pieces which will be beneficial to all parties over the next few years.

Sales during the balance of the day were typical. United States coins are purchased by knowledgeable collectors and several old GFRC friends visited and made acquisitions. Mateo, who works for NGC China division, stopped by to chat about status of PCGS and NGC competition in US and World coin markets. It is clear to both of us that NGC is losing ground in US market but still is dominate for world coins, at least at the moment. Mateo reported that PCGS had attracted several NGC world coin graders as PCGS continued to be aggressive against its primary competitor.

Unfortunately, Ricky (New Life Commemorative Collection) was fully engaged in Beijing with business commitments and could not fly to Shanghai for the Yunzhou show. Since April, GFRC has assembled a complete set of early United States commemoratives for Ricky and transfer took place via agent Harry Zhang.

Friday wrapped up at 5:00am followed by a subway ride back to the hotel. Internet bandwidth continues to be a substantial issue and I must find a Starbucks after concluding business on Saturday to upload this Blog report.

 

GFRC Black Friday Sale - November 23 Midnight thru November 2

The Yunzhou show ends on Sunday with United States return flight on Monday afternoon. The late evening Monday return was planned to enable preparations for the Black Friday sale that kicks off on Thanksgiving Day at midnight.

So far, I've received discounting instructions from only four consignors and wish to remind all GFRC consignors that the deadline for Black Friday sales item inputs is this coming Tuesday end of day. On Wednesday, the COIN database will be updated with pricing reductions along with working with Matt to configure the Black Friday banner on the For Sale page.

 

Wrapping Up the Blog

Let's end this Blog edition here as returning back to the Yunzhou bourse floor for Saturday session. The next Blog will be uploaded on Sunday evening (China time) and will cover Saturday and Sunday show results.

The GFRC online store is open 24 hours a day for your numismatic selections. Domestic order shipments will restart on Tuesday.

Thanks for checking in!

 

 

November 15, 2017

Greetings from Shanghai, China and welcome to the Daily Blog.

Shanghai weather is warm for middle November with highs in the low 60s. Tuesday flights were uneventful with the Newark to Shanghai being a long 15 hours as we flew over Greenland, the North Pole and down through Russia before reaching China airspace. Since the middle seat next to me was occupied, there was no space to work on image processing on the laptop. Instead, the idle time was spent watching four movies including, The Mummy, Inferno, The Great Wall and an outstanding Ghost in a Shell. The last move was a futuristic look at Hong Kong with Cyber robots buying paired with human brains. This is a must see movie for those interested in science fiction action but with an important human twist.

It is already Thursday as China is now 13 hours ahead of east coast United States. I will be heading to the Yunzhou Antique Mall and conducting the traditional booth set-up in anticipation of an early start on Friday morning. The Yunzhou attracts coin and paper money collectors from Shanghai and surrounding Jiangsu and Zhejiang provinces.

LSCC Baltimore Regional Meeting

John Coyle sent the following group photo from the Baltimore regional meeting. As mentioned in an early Blog report, attendance was at record level considering several individuals were not in the image and a few members arrived after the photo was taken.

Whitman Baltimore Meeting Attendees

 

Top 10 Liberty Seated San Francisco Mint Coinage at Heritage

A GFRC friend sent the following information during the overnight hours and worth sharing in today's Blog. So far, there are no 1 million dollar coins in this group but that is just a matter of time for the rare 1870-S Seated dollar.

1870-S $1 XF40 NGC. Realized $805,000.
1855-S 25C Arrows PR64 NGC. CAC. Realized $276,000.
1855-S 50C Arrows PR65 NGC. Realized $276,000.
1878-S 50C MS64 PCGS. CAC Realized $199,750.
1866-S 50C No Motto MS67 NGC. CAC. Realized $164,500.
1866-S 25C MS66 PCGS. Realized $97,750.
1855-S 50C Arrows MS67 NGC. Realized $92,000.
1865-S 50C MS65 PCGS. CAC. Realized $92,000.
1858-S 10C MS66 PCGS. CAC. Realized $88,125.
1859-S 10C MS65 PCGS. CAC Realized $88,125.
1867-S 25C MS67 NGC. CAC. Realized $88,125.

 

Apology for Slow Order Response

GFRC customers have grown accustomed to quick order responses since I'm working at the laptop during daytime and evening hours. When recent coin show travels, especially to China, responses are slower and I apologize for the delays. Every GFRC orders is important and I will be doing my best to speed up responses moving forward.

 

Global Financial News

A quick check of Seeking Alpha headlines shows that spot gold is still in a tight trading range and quoted at $1285. Crude oil is fallen back to $55 based on IEA reports that supply is higher than forecasted. Bitcoin is quoted slightly above $7000. We open Seeking Alpha headlines with commentary on oil supply.

Crude prices fell more than 1% overnight, continuing Tuesday's slide after the IEA cast doubts over the past few months' narrative of tightening fuel markets. An API survey showing a supply build also did not help prices. The fall means that oil is now down by around 5% since hitting 2015 highs last week, ending a 40% rally between June and early November.

Japan's economy continues its slow growth and is a vindication for Prime Minister Abe's policies.

Japan's economy expanded at an annualized pace of 1.4% in Q3, marking the seventh straight period of quarterly growth and longest of uninterrupted growth in more than a decade. It's welcome news for Prime Minister Shinzo Abe, who won a new mandate from voters in a national election on Oct. 22 to continue pushing the world's third-largest economy out of years of economic malaise.

 

Wrapping up the Blog

Let's end the Blog at this point. As usual, the Shanghai Equatorial Hotel internet bandwidth is insufficient to upload today's Blog edition. I must walk around the area and locate a coffee shop or restaurant to secure an upload.

Thank you for checking in. Posting of Blog editions will be erratic during the Shanghai coin show so your understand is appreciated.

 

 

November 13, 2017

Welcome to the Daily Blog on a cloudy southern Maine Monday morning.

The woodstove is a reliable old friend and the best heating source one could have due to the robust output. Once the large thermal mass behind the stove is brought to temperature, the house stabilizes in the low 70s and is so comfortable. Forced air and hot water heating system simple are unable to deliver similar warmth. Yes, handling wood is a task in itself but well worth the effort.

I'm so pleased to report that Dan White returned safely to Osprey Florida. He called last evening to report that the 2008 Mercedes drive train "issue" was nothing more than a loose metal plate under the car that was flapping. Mercedes service remains exceptional....the local Virginia dealership tightened the plate at no charge and Dan was back on the road on Saturday evening.

To be honest, taking on a Four Coin Shows in Four Weekends event is challenging and mentally exhausting. Recovery time between the events is minimal with administrative tasks and order shipments having priority. Sunday brought a long day in the GFRC office to complete all Baltimore show paper work. More phone and online orders arrived which is icing on the cake at this point in time. Hiding in the office was also appropriate as kitchen renovations where back in force and continue today with Travis, the painter, having already arrived while writing the Blog.

GFRC is traveling to Shanghai, China on Tuesday and will be setup at the annual Yunzhou Antique Mall coin show that runs November 17 through November 19. The product emphasis is very different than Manchester NH and Baltimore. GFRC will be offering 20th century coins including Indian cents, Buffalo nickels, a lovely consigned toner Washington quarter lot, along with Walking Liberty halves, Morgan dollars and mostly raw United States gold. I will probably salt in a few early type coins also.

Shanghai Yunzhou Antique Mall - 8th Floor Coin Show - November 17 - 19, 2017

The lucky jade coin, that was rubbed so many times at the Whitman Baltimore show, will feel right at home in Shanghai. I'm looking forward to hanging out with Harry Zhang and the circle of Shanghai numismatists that frequented the GFRC exhibit and educational event back in April of this year. The Yunzhou show brings the opportunity to enjoy local cuisine in the evenings too as I truly enjoy authentic Chinese dishes with numbing spices.

 

GFRC Consignment News

GFRC's business model success has been incredible but that success brings operational bandwidth issues. It was just a little over a month ago, October 7 to be exact, that GFRC announced reaching the $2,000,000 consignor proceeds milestone. In just five weeks, GFRC has added another $91,000 to that total with more collectors joining the consignor community each week. The quantity of unprocessed consigned coins will be my primary focus upon returning from the Shanghai Yunzhou show. Hopefully, there will be time to process coins images on the long trans Pacific flights.

Maine weather moving forward will not be conducive for photography as the sun is too low in the sky to produce quality images. The 10 day forecast calls for mostly cloudy conditions with freezing rain arriving this Thursday.

Effective immediately, GFRC will not be accepting any further consignments until after the business migration to Venice office is completed. Consignments acceptance will restart on December 10th!

Your understanding is appreciated on this matter. Accepting more consignments will mean incremental coins building up in the processing queue with consignors becoming increasingly concerned about the long leadtime for posting to the Daily Blog and to the price lists. It is best that we stop the consignment flow for several weeks to provide an opportunity to recover from the Four Coin Shows in Four Weekends event. All on hand consignments will be ready for the Tampa FUN show.

 

Global Financial News

The week opens with gold trading at $1280/oz and crude oil remaining at the $57/bbl level. Bitcoin is not for the faint of heart and had a wild 15% swing during the weekend. Let's check a few Seeking Alpha headlines to start the week.

Theresa May is having a difficult time with Brexit and her job may be on the line.

Sterling dropped 1% overnight to $1.3064 following weekend reports suggesting 40 MPs had agreed to sign a letter of no confidence in Theresa May. Just eight more MPs are required to start a formal leadership challenge. The pound has advanced 6.4% against the dollar this year but remains about 12% lower since the U.K. voted to leave the EU in June 2016.

Positive news from the European Union concerning an integrated self defense force....

More than 20 EU governments are set to sign a defense pact today, marking a new era of European military integration. The effort was long blocked by Britain, which feared the creation of an EU army, but it took off after Brexit, the election of pro-European Emmanuel Macron and warnings from President Trump that European allies must pay more towards their security.

Risks for an Iranian - Saudi Arabia war in the Middle East continue to increase.

Lebanese dollar bonds are rebounding after Prime Minister Saad al-Hariri said he would return to the country and could rescind his resignation if Iran-backed Hezbollah agreed to stay out of local conflicts. Geopolitical worries also increased at the weekend after Bahrain linked an explosion at its main oil pipeline to Tehran, raising the possibility of aggressive Saudi action against Iranian interests in the region.

China has an official Singles Day on November 11. The divorce rate in China is quite high along with many young people never marrying. Alibaba has capitalized on this fact.

Smashing its own record from last year, Alibaba's Singles' Day sales extravaganza hit a record 168.2B yuan ($25.4B), cementing it as the world's biggest shopping event. Singles' Day, which falls on Nov. 11, or 11/11, was started as a day to celebrate China's lonely hearts. Alibaba turned it into an online shopping festival in 2009, setting new sales records each year.

 

Featured Coins of Day

Daily Blogs without coin images can be dull so let's wrap up today's edition with some more great coins in GFRC inventory. A few of these will be traveling to Shanghai tomorrow morning.

  

  

  

 

There will be no Daily Blog edition on Tuesday morning due to a 6:00 am flight to Newark to catch connecting flight to Shanghai later in the morning. The next Blog edition will be forthcoming from Shanghai and dependent on where sufficient internet bandwidth can be located to conduct file transfer to the US based Hostway server.

Wishing all loyal Blog readers a great week. Please check back during the week as I'm sure there will be some updates.

 

 

 

November 12, 2017

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

Southern Maine temperature is a cool 25F and the landscape outside the office window is barren. Temperatures will be seasonal for the balance of time before the Thanksgiving holiday. The 10 day weather forecast indicates high temperatures in the low 40s and overnights below freezing. The Fortin homestead wood stove is roaring and within a few hours the house will be toasty warm.

The GFRC return drive from Baltimore to Raymond was entirely uneventful and I count my blessings for smooth transport. Unfortunately, Dan White did not enjoy similar good fortune on his return drive to Florida. While I was heading north on the New Jersey Turnpike, the cellphone rang and it was Dan to report that his 2008 Mercedes sedan has experienced a drivetrain issue. Luckily, he found a dealership outside of Washington DC and has a loaner for the next few days while repairs are done. I wish him good luck with the repairs and safe transport back to Osprey, Florida.

 

Baltimore Show Report - Day 3

Saturdays at the Whitman Baltimore show are always anticlamatic. Thursday and Friday bring the serious collectors while Saturday is slow with local area visitors and occassional dealer purchases. Dealers are focused on last minute tasks, administration and preparing to close down booths in time to catch BWI flights or initiate return drives to home offices.

Since arriving on Tuesday and taking in the Wednesday pre-show, I was ready to close down early. Morning time brought more substantial sales and a continuation of the good fortune experienced on Thursday and Friday. Sales highlights included the gorgeous 1880 PCGS PR64CAM CAC Trade $1 and the 1864 Small Motto PCGS AU58 CAC two cent piece along with several $1 gold pieces.

By 2:00pm, the backup GFRCmobile was heading north on I-95 with the only congestion being on the Garden State Parkway around Newark and again, going across the new Tappan Zee bridge. This is the first time crossing the bridge at night and seeing the blue accent lighting on the main support columns and cables.

Overall, the Fall 2017 Baltimore show was a substantial success as many consignor coins were sold. Buying was limited to several table walk up deals and this is a good thing. Since booth traffic was so strong, I could not get away to walk the floor and wholesalers found little open time to approach the booth. More consignments were taken in and the current backlog is sufficiently large enough to keep me busy through the GFRC migration to Florida office. A sincere thanks goes out to the great GFRC staff for manning the booth and supporting clients.

Next up is the last of the Four Coin shows in Four Weekends event; the Shanghai Yunzhou show. Honestly, I'm looking forward to wrapping up this last show date and having some downtime during the Thanksgiving timeframe.

 

GFRC Florida Office Migration Announcement

The GFRC Florida migration takes place in early December as Matt, Chikae and grand-daughter Natsumi arrive from Beijing on December 15. The website will be updated with Venice Florida mailing address on December 4 and customers will be reminded, in the Daily Blog, to hold payments during the first week of December as the GFRC goes through its transition process.

 

Featured Article: The Distribution of Pain by John Mauldin

It has been awhile since a John Mauldin article has been discussed in the Daily Blog. Mauldin is a prolific author and I read much of his ramblings on the United States and global economies and potential risks. Some of the articles are quite in-depth and would be difficult to summarize in the Blog. However, the latest article entitled, The Distribution of Pain, is a quick read and is eye opening concerning the current state of economic well being across the United States population. The entire article can be accessed online by clicking on the underlined titled.

John Mauldin opens the article with a reference to prior article that discussed the growing economic disparity of United States society due to rapid technological changes. I've added the link if you are inclined to read that article. Change is painful for most humans and for some, it raises anxieties to unacceptable levels.

In last week’s “Fragmentation of Society” letter, I wrote about the coming technological changes that will replace many human jobs and disrupt society. Some of the disruption will be good and necessary. Much of it will be painful, too, and the pain won’t be evenly distributed.

That is a problem whether you personally feel any pain or not. People don’t like pain and will change their behavior to avoid or relieve it. Like the drowning who desperately seek something to hold onto, they will vote for politicians who say they can relieve that pain, regardless of whether they actually can. And if those who suffer see that you don’t share their pain, they will wonder why not and seek to gain whatever advantage you possess. And then it gets ugly.

That’s not a moral statement but simply a fact-based observation of human nature. Whether we like the facts doesn’t really matter: We have to face them. Presently we are not handling them very well.

Mauldin brings attention to long term economic trends across two different "economies"; the top 0.1% and the bottom 90% in this chart. Since the 1990 timeframe, the bottom 90% has been suffering a gradual reduction of wealth while the top 0.1% went from slightly under 10% to current 20% of all United States wealth. This wealth transfer has lead to current wave of populism as the average American is running in place economically and still losing ground. Mauldin summaries as follows;

In the big picture, we see about a half-century when the net wealth gap widened in favor of the bottom 90%, followed by another 30 or so years in which the wealthiest gained ground while most of the population lost it.

It’s not a coincidence that populism emerged as a political force in both the 1920s–1930s and the 2010s. In each case, people at the bottom could tell the economy wasn’t working in their favor. The best tool they had to do something about it was the vote, so they elected FDR then and Trump now – two very different presidents but both responsive to the most intensely angered voters of their eras.

The following charts illustrate changes in Real Household income between 1985 and 2015. Note the graph on the left and explained by Mauldin as;

Splitting that data by the top 40% and bottom 60%, we see a sharply growing difference in the percentage changes since 1980. The top 40% saw its after-tax net household income grow almost three times faster than household income for the bottom 60%, even including government transfer payments.

Financial and emotional stress levels for the bottom 40% continue to ramp. A growing debt spiral is an issue that is festering and will have painful long term consequencies. Please note in the below graph that the bottom 20% of the American population are approaching a 50% debt to median income ratio. The 20% to 40% segment is close behind but appears to have stabilized at 45%.

One source of considerable stress that isn’t on the list but probably should be is household debt. I talk a lot about government debt and pension debt, but for most people the more immediate concern is probably their mortgage, auto, credit-card, and student loan debt. There is a mountain of it.

Mauldin closes with the following points. Lives of all American will continue to improve due to improving health care but again the gap between the top and bottom components will be obvious. Managing social fragmentation and financial stress due to income disparties will be a substantial challenge for political leadership. Our 24 hour media will also exploit the disparities as they feed on fear, anger and anxiety for readership.

We are a nation that is increasingly under stress. Dalio talks about it in terms of the bottom 60% versus the top 40%, but he could have made the same case using an 80–20 model or even a 90–10 model. I am reminded of Pareto’s 80/20 principle, which states that roughly 80% of effects come from 20% of causes.

Our socioeconomic situation is not going to get better, not for a long time. Let’s assume, wildly optimistically, that the US economy and the rest of the developed world grow at a 5% nominal rate for the next 15 years, so that our economies roughly double. Does that mean that the gap between the lower 60% and the upper 40% will be even wider? We will have more than a few people who will be worth more than $100 billion, that’s for sure.

Will the lives of those in the lower 60% be significantly better than they are today? Absolutely. They’ll have improved health care and health spans (if they have access to health care), lower food costs, far more access to services, etc., but the relative differences will be even greater between the top and the bottom.

Unless we somehow figure out how to help people deal with their stress and better manage the yawning differences in incomes and outcomes, we’re going to see increasing tension and fragmentation in our society.

 

Wrapping Up the Daily Blog

It is already 9:30 am and lots to get done in the next 48 hours. Let's close the Blog at this point. In Monday's Blog edition, I should be organized enough to share the host of new consignments that arrived at the Baltimore show along with more new purchases.

Thanks for visiting and wishing everyone a peaceful Sunday. No, I will not be watching NFL football today as just no time...... See you on Monday.

 

 

 

November 11, 2017

Greetings from a frigid cold Baltimore as this Blog edition is written on a Friday evening.

W. David Perkins, Diane and I just wrapped up the day with dinner at PF Changs, across from the Inner Harbor Hard Rock Cafe, and the walk back to the Days Inn was quite brisk. Living in Florida during winters has definitely reduced my Yankee resilience for below freezing temperatures.

There is much to discuss in today's Blog so let's get started with the LSCC regional meeting.

 

LSCC Regional Meeting Update

Wow! About 40 club members were in attendance for today's regional meeting and probably record attendance for the Baltimore venue.

Len Augsburger opened the meeting with a traditional welcome followed by introducing Roy Ash, one of the earliest club members still active in our club. Roy joined the LSCC dinner on Thursday evening and shared his memories of the early club formative period with Kam Ahwash as president and the struggles to attract more than five people for club meetings. Individual attendee introductions followed then the group photo was taken and will appear in the December E-Gobrecht.

Gerry then provided a summary of club news including dues renewal, the Premier LSCC Membership medal and efforts to bring about SeatedFest II at the March 2018 Baltimore show. Dennis Fortier discuss regional news followed by John Frost sharing a presentation on all Liberty Seated coinage denominations minted at the Carson City mint. The club had orders another batch of LSCC polo shirts and those were on sale at the meeting and at the LSCC club table.

The meeting adjourned at 9:50 am allowing club members time to queue for the bourse floor opening at 10:00.

 

LSCC Gobrecht Journal Arrives to Mailboxes Soon!

The November Gobrecht Journal is on its way to club members. Carl Feldman shared his copy with me and all I can say is Editor Bill Bugert has assembled another amazing issue. More on this topic upon arriving back to Maine and having time to read the issue.

 

Baltimore Show Report - Day 2

I'm thrilled to report that GFRC sales on Friday were a continuation of that enjoyed on Thursday. The GFRC staff were continuously busy from 10:00 am until about 4:00pm with Thursday/Friday Baltimore sales approaching the mid five figures. There is no question that the market for premium early type coins is vibrant based on Baltimore sales results. Having exceptional and broad based inventory was a key factor for the past two day's success. Customers commented that they had never seen a full case of original Liberty Seated quarters during their collecting careers along with two cases of Seated dimes and one and half cases of Seated halves. Every product line had sales except toner Morgans. We sold more small denomination United States gold, Seated half dimes, dimes, quarters and halves and Capped Bust inventory too. Quality was paramount as collectors become more sophisticated and aware of CAC approvals when making purchases.

Yes, Gerry's good fortune jade piece was once again rubbed to kick off the day and worked like a charm. Here is the GFRC lucky stone.

GFRC Good Fortune Jade "Coin"


 

Buyer Beware: Collector is Sold Raw Market Acceptable 1872-S Seated Quarter for PCGS Guide Money

During the morning hours, a new collector appeared at the GFRC table and shared that he has flown from California to Baltimore show to hunt down S mint Seated quarters for his collection. The individual had financial means but lacked experience to discern strictly original surfaces. Len Augsburger spent considerable time with the new customer and shared his knowledge of Seated quarters and surface originality. The collector purchased the Saw Mill Run 1861-S PCGS VF20 CAC quarter and an 1855-S graded NGC EF45 with terminal die state reverse while at the GFRC table. During the purchase wrap up, I also joined the conversation. At that point, the collector indicated purchasing a raw AU+ 1872-S quarter from a "well known" Liberty Seated dealer on the bourse. This dealer was holding the coin until customer references could be verified; the check had already been written. The collector planned to submit the 1872-S to PCGS for certification and asked for our opinion on the purchase after pick-up. Sure we said, and moved on with our day.

The collector returned to the GFRC booth around 3:00 pm with the raw 1872-S quarter. Yes, the piece had AU details but was not original and only market acceptable. There was no luster as the surfaces were glossy from a long ago wipe/cleaning and subsequent retoning. The collector had paid $8500 for this raw example and will struggle with placing it into a TPG holder. PCGS has only certified five examples in all AU graded.

As LSCC President and leading an organization towards creating the next generation of Liberty Seated collectors, I was sadden that a long time LSCC member/dealer would sell this raw piece to an inexperienced collector at 2X the fair market value. Yes, the collector also shares responsibility for his bad judgment and learned an expensive lesson today.

The Motto to the Story: Before spending substantial monies on coins, self education is paramount along with checking the reputation of dealers you are doing business with.

 

GFRC Consignment News

More consignments arrived on Friday including a strictly original 1872-S PCGS AU55 Liberty Seated quarter. The coincidence with the prior story is amazing as GFRC would have sold this PCGS AU55 example for less than $8500.

I will share the incremental consignments once returning to GFRC office on Sunday.

 

GFRC Black Friday is Coming Soon!

Time flies and not too early to think about the upcoming GFRC Black Friday sale that takes place starting midnight November 23 and closes at 9:00 pm on Sunday November 26. I'm sure GFRC consignors and customers remember the rules and game plan.

- A price reduction of at least 8% on individual consignment items is necessary to participate.

- All price reduction must be submitted by 12:00 noon on Tuesday November 21.

- This is a cash (check) and carry sale with no lay-a-ways.

 

Wrapping Up the Blog

It is already 7:30am and time to check out followed by breakfast and catching the Baltimore bourse floor opening at 9:00am. Len Augsburger has departed back to Chicago and it was great to have him as table assistant. Dan White, Diane and myself will be handling the GFRC booth today along with PCGS submissions.

Thanks for checking in at the Blog and wishing everyone a great weekend. I will be back with a Baltimore show wrap up Blog on Sunday but expect it around 9:00 to 10:00am. There is an outstanding John Mauldin newsletter piece that I wish to share with Blog readers.

 

 

 

November 10, 2017

Welcome to the Daily Blog on a Friday morning as the Whitman Baltimore show is in full swing and the LSCC regional meeting starts at 9:00am in Room 301. Let's jump right into the Day 1 show report.

Baltimore Show Report - Day 1

Let's just say that I went into Thursday's dealer setup and general public attendance session with a bit of quiet apprehension. The poor showing at the PAN show and the acceptable but not great Manchester show had me concerned on what might occur in Baltimore. Was the market weak for above average quality types coins? On a positive note, the GFRC team was just fantastic in their handling of the GFRC booth setup; we were ready for business in less than an hour. Our United States gold offerings were strategically positioned on one side of the corner with Dan White taking full control. All the silver types coins were positioned on the long side of the L corner booth and managed by Gerry and Len. Diane was in the background handling receipt writing and other administrative tasks.

Wholesale dealer traffic was minimal since GFRC is primarily known as a retail sales channel and not discounting enough to dealers to make it worth their while to visit and attempt purchases. So the time period between 9:30 to 10:30 am was quiet. After working and living in China for so long, I've become quite superstituous and remembered that I carried a round piece of jade in my wallet. The jade piece was a gift from my top Beijing client at the November 2016 Yunzhou show and shared for good fortune. So I pulled the jade from my wallet and sat quietly in the booth rubbing the piece for Asian fortune. Len and Diane were laughing at this behavior with this image being captured.

Laugh they did but the good fortunes arrived like a freight train starting at 11:00 am and did not stop until about 4:30 pm. GFRC had an outstanding first day at the Baltimore show with sales across all product lines. We sold better date small denomination gold. We sold Seated, Bust and Barber coinage with cumulative sales being well over five figures. Customers would come in waves with the entire team busy providing the best service possible. During a quiet period, I caught Len and Diane rubbing the jade piece that sat by the Liberty Seated dime display case. Yes, they became believers as another wave of customers would arrive. At one point, I counted seven customers simutaneously being serviced by our team. It was that kind of day.

The bourse noticeably slowed by 4:30 pm and then at 5:00 pm, it was time to crack open the bottle of Glenlivet Founders Choice single malt scotch. Here is the team enjoying a nip to celebrate at very strong sales day!

You can bet that I will be rubbing my good fortune jade piece first thing on Friday morning after the LSCC regional meeting......

Thursday came to a close with the traditional LSCC dinner at the M&S Grill at Inner Harbor. The dinner was very well attended with over 15 club members. Roy Ash, one of the early club members, was in attendance and delight the group with his recollections of the LSCC during the early days of Kam Ahwash. Everyone had a great time as the food was excellent and the company was just downright fun.

 

GFRC Consignment News

More consignments arrived on Thursday including a very rare 1892/892/2 Barber dime graded NGC MS64 PL and listed as RPD FS-302 by PCGS and NGC. This is the only example certified by NGC with three examples certified by PCGS. But this is not an ordinary Barber 1892 dime! The piece is closer to a full fledged proof than a business strike with doubled denticles on the obverse. The repunched date is bold and obvious under 10x loupe and easily detected by die variety fans. The combination of heavily mirrored obverse and reverse fields and the repunched date should make this an easy target if available. But with only four examples certified since 2008, it is definitely a rarity. The newly consigned piece comes with large NGC Photograde laminated document that explains the variety and captured full obverse and reverse images along with this macro shot of the date. This is a offering for a serious Barber collector who desires a research project as no explanation currently exist for the manufacture of this piece.

 

Global Financial News

A few noteworthy items caught my attention this morning on Seeking Alpha headlines. Have Blog readers noted that North Korea has not fired a ballastic missile throughout President Xi's National Congress and during President Trump's Asia tour? Trump and Xi are indeed seeing common ground on international matters and it takes time for the Chinese administration to bring about change in a massive country with 1.6 Billion inhabitants.

The fact that Trump is not meeting Putin is also significant given the ongoing election controversies. Isolating Russia by forging closer cooperation with China is in the best interest of the United States, Asia allies and the European Union.

Ahead of the fourth leg of his 12-day Asia trip, President Trump praised Chinese leader Xi Jinping as "highly respected" after a visit that was said to have set a "new blueprint" for handling U.S.-China relations. "Regarding a Putin meeting, there was never a meeting confirmed, and there will not be one that takes place [at APEC] due to scheduling conflicts," White House Press Secretary Sarah Sanders told reporters.

The headline is quite significant as liberalization of financial markets is a huge step for China.

Following the visit, China has taken further steps toward liberalizing its financial system, saying it will remove foreign ownership limits on banks and asset management companies, while allowing overseas firms to take majority stakes in local securities ventures and insurers. The country has already made big strides in opening its equity and bond markets to foreigners.

The new global hotspot is quickly becoming the Middle East with Iran and Saudia Arabia taking steps towards conflict.

After calling for sanctions on Iran for its "support of terrorism," Saudi Arabia and its Gulf allies have ordered their citizens to immediately leave Lebanon, escalating a dispute over the influence of Iranian ally Hezbollah. Saudi Arabia said it also plans to cut oil exports to all the regions it ships to next month as the kingdom and fellow nations press on with their OPEC-backed supply cuts.

 

Wrapping Up the Blog

Once again, this Blog edition is written on Thursday evening before heading to bed. It is now 10:45 pm and time to sign-off and call it a successful day. The Energizer Bunny is out of gas and needs to sleep.

Thanks for visiting the Blog and I look forward to meeting more customers and clients on Friday at the Baltimore show.

 

 

 

November 9, 2017

Greetings again from the Whitman Baltimore show. Today's edition was written on Wednesday evening due to an early start on Thursday morning.

The entire Northeast is rapidly cooling down and even Baltimore cannot escape with a forecasted low of 27F coming during the Friday overnight. Cold temperatures were evident on Wednesday evening when walking back from dinner at the M&S Grill on the Inner Harbor. The GFRC team including Gerry, Diane, Dan White and Len Augsburger enjoyed a lovely evening together and are fired up for tomorrow's Baltimore show kick off day.

Baltimore Pre-Show Report

I'm pleased to report that GFRC had an excellent pre-show event on Wednesday. As they say, "the early bird catches the worm" and this is true for the numismatic business. GFRC had been invited by one major dealer to visit his pre-show table immediately at opening time given a substantial amount of new inventory. Dan White and I made a point of being early and were not disappointed with the results. We then walked several blocks to another major pre-show venue and worked the balance of the morning searching through hundreds of coins for those pieces that were above average quality and priced at competitive wholesale levels. After having a quick lunch and moving GFRC coins into show security, Dan and I went back for a second round of pre-show dealer visits and continue our very selective buying. I'd like to share several observations before listing the broad range of new purchases;

- Liberty Seated coinage was very scarce across all pre-show dealers. I was specifically on the hunt for Seated halves in AU and Mint State and did not find a single piece. Actually, during the pre-show, we did not buy a single Liberty Seated coin other than the 1839 and 1850 quarters on Tuesday evening.

- Capped Bust half dime and dimes were also nearly impossible to locate. Some dealers had a few "Big Boy" coins (high grade mint state) that did not fit the GFRC customer profile. Capped Bust halves could always be located due to high mintages and survival rates. But not half dimes and dimes.

- 20th Century coins were plentiful and ignored by GFRC as our mission was to locate early type silver and United States gold.

- There is a growing "pricing spread" between CAC and non CAC United States gold. The CDN "grey sheet" now lists CAC prices for AU58 and better which has resulted in about 15% premiums, or more, for CAC approved gold.

Following are all GFRC new purchases made on Wednesday. I believe you will agree that GFRC had a strong pre-show. Thanks to diligent effort by Dan White and Len Augsburger, every coin has been priced and will be in the display cases at the start of today's show.

Silver 3c: 1862 PCGS MS63 old album bullseye toning...this one will not last long.

Draped Bust 5c: 1796 LIKERTY PCGS EF45 CAC choice original and rare preservation state...few know with CAC approval

Barber 10c: 1914-D PCGS MS64 golden obverse

Barber 25c: 1915-D PCGS MS64+ CAC frosty cartwheel luster with light aquamarine gray at the rims; 1916-D PCGS AU58 CAC golden surfaces and so choice

Draped Bust 50c: 1807 PCGS VF30 CAC choice original gray and well above average

Barber 50c: 1894 PCGS MS64+ with incredible rainbow toning, conversation piece

Early Commem 50c: 1915-S Pan Pacific NGC MS64 CAC 1st generation Fatty holder with white label....the holder is also a special collectible while the commemorative is a gem!; 1934 Maryland PCGS MS65 CAC frosty luster; 1946 Iowa PCGS MS66 Rattler frosty cartwheel luster

Gold $2.5: 1926 PCGS MS64 CAC glowing satiny luster

Gold $3: 1854 PCGS MS63 satiny cartwheel luster, first year of issue; 1860 PCGS MS63 choice with mirrored fields, low mintage

Gold $5: 1854 PCGS AU58 crusty old time original patina; 1909-D PCGS MS64 CAC OGH with old time orange patina; 1910 PCGS MS62 CAC quality type coin; 1912 PCGS MS62 again quality type coin;

Gold $10: 1854-O Large Date NGC AU55 CAC attractive and perfect for grade; 1907 NGC MS63 flashy cartwheel luster

 

Wrapping Up the Blog

Today brings an early start as the bourse opens at 8:00am for dealer setup. GFRC has a substantial start up workload with nine cases of inventory to be positioned before the 10:00 am opening for early bird collectors. The bourse formally opens at noon time to the general public and remains open until 6:00 pm.

So let's end the Blog at this point. I will be back on Friday morning with a Day 1 show report and hoping for a busy day and strong sales.

 

 

 

November 8, 2017

Greetings for Baltimore and the infamous Days Inn!

Yes, Baltimore show week is upon us and Tuesday's 9 hour drive was uneventful other than having to perform a last minute vehicle swap at departure. After driving the GFRC mobile to Pittsburg and Manchester, the brakes made a scraping sound as I backed the car out of its parking spot. We immediately unloaded and moved the contents to Diane's vehicle and off we went! Dan White also made it to Baltimore safely and shared that Altoona, PA had light snow yesterday morning before leaving. It is that time of year where snow will arrive at any moment. Northeast weather will become much colder in the next few days.

GFRC added a full day to its regular Baltimore show schedule to take part in the pre-show event. Many GFRC customers are building substantial Liberty Seated collections and need quality better dates. The probability of those items walking up to the Baltimore show table are minimal and require additional efforts to locate. Dan White will also be working the pre-show and searching out better date gold for that product line.

GFRC New Purchases

The pre-show activities kicked off on Tuesday evening as Dan and I visited with my favorite wholesaler to review his fresh offerings. Off we went to a hotel room and reviewed two double row boxes of coins and left with seven pieces to further improve GFRC's inventory offerings. Following are initial Baltimore new purchases. As usual, selection requirements with strict; eye appeal, originality and fair pricing were paramount. At GFRC, quality coins are evaluated and purchased one piece at a time to ensure customers gain fair value.

Capped Bust 10c: 1834 Large 4 PCGS AU58 freshly graded with gorgeous aquamarine gray patina and reflective luster, no CAC attempt

Barber 10c: 1892 PCGS MS64 OGH super attractive type coin with frosty cartwheel luster and light gold obverse rims, well struck too; 1897 PCGS MS63 CAC faint grey-gold centers with darker shades at the rims

Seated 25c: 1839 PCGS EF40 CAC natural olive-gray and well struck; 1850 PCGS AU55 freshly graded and rare grade, extra digit on rim, aquamarine and gold natural surfaces and ample luster

Barber 25c: 1916-D PCGS AU58 CAC golden gray surfaces and attractive

Capped Bust 50c: 1818 O-109 PCGS AU50 CAC a stately piece with light gray patina including golden hues at the rims, perfect for the grade and so pleasing.

 

GFRC Consignment News

I pleased to announce the presence of three strong consignments at the Whitman Baltimore show. In Sunday's Blog, the contents of the 1869 Collection consignment were highlighted. On Tuesday, the recent Port Matilda Collection consignment was posted to the Blog and is incorporated into today's edition. Finally, a substantial Copper Harbor Collection large cent lot returned from PCGS just in time to be priced and added to Baltimore show inventory.

The 1869 Collection and Port Matilda Collection consignments will be located in a special display frame at GFRC table, so please stop by and have a look!

Here is the Port Matilda Collection client gallery. I've assigned Gem quality ratings to the 1832 PCGS AU58 CAC Capped Bust dime, the 1819 PCCS VF35 CAC Capped Bust quarter and the 1901 PCGS AU58 Barber dime. That is substantial given the consignment was only five peices. All are available on the price list for ordering.

Port Matilda Collection Consignment - November 7, 2017

Gem and Choice Original Offerings at Baltimore

  

    

 

Copper Harbor Collection - Large Cents Purchased Decades Ago

The Copper Harbor Collection is divesting his non essential numismatic assets and moving monies into building a substantial Liberty Seated dime date and mintmark collection. GFRC is handling the divestment and is also placing quality dimes into the new project. I am on a mission to sell all of the following Coronet and Braided Hair pieces at Whitman Baltimore show.

Coronet Head Large 1c: 1819 N-8 PCGS MS62RB Rattler; 1820 N-13 PCGS MS62BN; 1824 N-4 PCGS AU55; 1826 N-4 PCGS AU53; 1830 Large Letters N-1 PCGS UNC-Details; 1836 PCGS AU58

Braided Hair Large 1c: 1845 N-4 PCGS AU55; 1846 Small Date PCGS MS62BN; 1848 PCGS AU53; 1851 PCGS AU55; 1851 PCGS MS62BN; 1853 PCGS MS62BN; 1856 Slant 5 PCGS AU58; 1857 Large Date PCGS AU58

 

Global Financial News

Bitcoin has arrived at Seeking Alpha and Blog readers, including myself, should be paying more attention to the development of crytocurrencies. As of today. Seeking Alpha is quoting daily gold, crude oil and now bitcoin spot prices. Gold has moved up slightly to $1281. Following are select headlines to consider on a Wednesday morning.

The IMF wishes for Japan to continue printing money that will continue to find its way into global stock markets while the EU and United States start financial tightening process.

The IMF is urging Japan to maintain its massive monetary stimulus in support of struggling consumer prices amid criticism that it's distorting markets and local stocks. With inflation distant from its ambitious 2% target, the BOJ has said it is nowhere near dialing back its huge asset purchases even as its U.S. and European counterparts eye an exit from crisis-era policies.

The Saudi Arabia and Iran conflict is escalating via proxies with the United States being dragged into another conflict.

Flaring tension? Iranian President Hassan Rouhani has called the missile attacks on Riyadh by Yemen's Houthis a reaction to "Saudi aggression" and said the kingdom was making a "strategic mistake" by considering the U.S. a friend and Iran an enemy. The White House condemned the launch, saying Tehran "enabled" the attacks which threatened regional security and "undermined" UN efforts to end the conflict.

Say it is not true....Tweeter going to 280 characters?

After experimenting with longer tweets in September, Twitter is now doubling its longstanding 140-character count to all languages where "cramming" was an issue. "In addition to more Tweeting, people who had 280 characters received more engagement, got more followers, and spent more time on Twitter," the company said in a blog post. Users will see the change roll out over the next few days.

 

Wrapping Up the Blog

Time for a quick shower, breakfast and then immediately jumping into Baltimore pre-show activities. Please wish Dan White and myself luck in our search for quality additional to current GFRC inventory.

Thanks for checking in. Thursday's Blog will bring everyone up to date on pre-show new purchases. Have a great day and stay warm as winter weather finally arrives.

 

 

November 6, 2017

Whitman Baltimore Show Week Arrives!

Greetings from the GFRC office for a second day in a row!

I'm starting to feel like Waldo during the Four Coin Shows in Four Weekends event. Next up is the Whitman Baltimore show that starts this Thursday with dealer setup at 8:00 am and the bourse opening to the public at 12:00 pm. The Baltimore LSCC regional meeting will take place Friday morning at 9:00am in Room 301.

I hope that collectors recognize that the life of a coin dealer is much more than just traveling to a coin show venue and setting up a booth. A host of other tasks are conducted in the background to ensure a successful business. For example, pre-show activity is key for relationship building and cementing a strong supply chain while hunting down quality coins consistent with the GFRC brand. Then there are the auction lot previews to attend in the hope of locating a few reasonable priced lots for the time spent. Preparing PCGS grading submissions takes time and coordination too. Attending the Baltimore show is like choreographing a long play. There are the nine hour drives to and from Baltimore. Each day brings new must get done tasks along with servicing the needs of GFRC customers and consignors.

Collectors who visited the GFRC booths at PAN and NH Coin Expo consistently commented on the uniform quality of displayed inventory. These comments are well founded and the result of attracting superior consignments but also purchasing coins for GFRC inventory one coin at a time. Some large dealers will boost of attending a large coin show and spending close to a million dollars on new inventory. Those are large numbers that any dealer would be proud of but what about the overall quality of the purchases? After walking bourse floors for years as a collector and now a dealer, it is nearly impossible to locate top quality early type and United States gold coins at CDN bid. CAC approved coins or those with consistent color and surfaces, are selling at premiums to the sheets and I will pay that premium in order to stock in GFRC inventory. Hunting down quality coins takes time and effort.....

 

Four Coin Shows in Four Weekends - GFRC Price List Impact

Some GFRC customers must be wondering, "where are all the new coins?" as they are not appearing in the 30 day new purchase price list. You are absolutely correct on this point.

The challenge with attending coin shows every weekend is the lack of recovery time between the shows. Priority is given to catching up on online sales shipments and financial administration. The Trading Desk system is a wonderful opportunity for consignors to trade in and out of coins, but 100% error free administration takes time as I follow a systematic process to ensure all transaction are properly recorded. As a result loading new purchases and consignments to the price list has a lower near term priority.

Compounding the matter is Diane's decision to conduct and wrap up kitchen renovations during this intense coin show period. I've lost my admin support and having to work every small task myself.

My apology goes out to consignors who sent or continue to send consignment shipments. I'm unable to process these consignments until this extraordinary coin show activity period is concluded.

 

GFRC Consigment News

Following is a status report on major consignments residing with GFRC.

Saw Mill Run Collection Consignment

This consignment has been marketed with images in the Blog. Of the 22 offered coins, 12 are sold or on hold. The remaining 10 pieces must be added to the online price list and will be available in the Baltimore display cases. Unsold coins, after Baltimore, will be added to the price list after I return from Shanghai show.

White Pine Collection Consignment

Due to time constraint, this consignment was marketed in the Blog without images but saw very strong FRoR activity and subsequent sales. Of the 8 offered pieces, 4 are sold or shipped to customers. The balance will be in the Baltimore display cases. Same as Saw Mill Run, remaining coins will be added to the price list once my travels slow down.

Port Matilda Collection Consignment

The Port Matilda Collection consignor visited with me at the PAN show and transferred an addtional consignment with a host of quality type coins. I'm hoping to list these in Tuesday's Blog and will have on display at the Baltimore show. All coins are photographed and waiting for image processing.

Upstate New Collection Consignment

This consignment arrived while GFRC was at the PAN show with all coins being photographed. I'm working towards having these in Baltimore show inventory as a first step.

1869 Collection Consignment

This important 18 piece consignment was transferred at the Manchester show and itemized with prices in Sunday's Blog. All coins will be available at the Baltimore show and then will enter the photography and price list posting queue after I return from Shanghai. The consignor has sent his images in the event there are online FRoR requests. Already, I've supplied images to several inquiries and one piece (1869 F-104a PCGS AU50 dime) is on hold.

Saco River Collection Consignment

After the close of the NH Coin Expo, Bill Kelly transferred another 30 or so pieces on consignment that include more coins from his personal collection. I had already purchased six pieces at the Manchester show, but Bill wishes to sell more items in the near term. These coins are awaiting processing and loading into the COIN system.

Indiana Collection Consignment

This long time collector continues to divest select Liberty Seated dimes from his collection and sends regular shipments to GFRC. Another arrived while I was at the Manchester show.

New Jersey Collection Consignment

As mentioned in an earlier Blog, the New Jersey Collection's complete set of Liberty Seated halves in AU-MS grades sans the 1878-S will be reaching the market starting at Baltimore show. The San Francisco mint pieces will be first transferred at Baltimore followed by the New Orleans dates at Tampa FUN and Philadelphia dates are March 2018 Baltimore. The consignor plans to hold onto the Carson City dates at this time.

 

Global Financial News

The week opens with gold steady at $1272 while crude oil continues to move upward. All is not well in Saudi Arabia with both internal corruption crackdowns and an ongoing war with Iran's proxies in Yemen. There is much ground to cover within this morning's Seeking Alpha headlines so let's get started.

We open with Saudi Arabia headlines and explanation as to why crude now stands at $56/bbl. The price increase is excellent news for United State oil industry.

Brent crude futures jumped to their highest since July 2015, while WTI futures touched $56 a barrel following a new wave of arrests of royals and ministers in a Saudi corruption probe. It was orchestrated by Crown Prince Mohammed bin Salman, who's backed OPEC-led output cuts. Game of thrones? The purge also led to the arrest of business billionaire Prince Al-Waleed, whose investment firm Kingdom Holding has big stakes in Citigroup and Twitter.

Meanwhile, Saudi Prince Mansour bin Muqrin and a number of government officials were killed on Sunday in a helicopter crash near Yemen, a day after the nation intercepted a ballistic missile that was said to have originated from its war-torn neighbor. The kingdom blamed the launch on Iran and warned it could be considered "an act of war." The Saudi Tadawul fell as much as 1.5% overnight on the latest news.

The next headline is very important as nothing happens by chance in China. All officials are tied to the Beijing Central government agenda. I read this headline as a warning shot being fired to China major banks and provincial governments concerning excessive debt levels.

China's financial system is becoming significantly more vulnerable due to high leverage, according to central bank governor Zhou Xiaochuan, who has made a series of blunt debt level warnings in recent weeks. Latent risks are accumulating, including some that are "hidden, complex, sudden, contagious and hazardous," even as the overall health of the financial system remains okay, he wrote in an article published on the PBOC website.

The Federal Reserve will be reshaped by President Trump. Does the retirement of William Dudley have an implicit meaning?

One of the Fed's most influential policymakers, New York President William Dudley, is preparing to retire next year, about six months earlier than planned, CNBC reports. President Trump already has three other seats to fill on the Fed's Board of Governors, and a fourth if Yellen departs when her term as chair ends, giving the White House an unusually wide window to reshape the central bank.

The Catalonia succession effort has been crushed by Spainish government leaving political efforts as the only alternative.

Ousted Catalonia leader Carles Puigdemont and four associates have turned themselves in to Belgian police following Spain's issuing of an arrest warrant for rebellion and sedition. Two polls were also released Sunday suggesting pro-Catalonia independence parties will together win December's regional election but they may fall just short of a majority of seats in parliament needed to revive the secession campaign.

 

Featured Coins of Day

We close with some random offerings from GFRC's substantial inventory. If you've been considering collecting a new Capped Bust or Liberty Seated coinage denomination, then your timing could not be better. GFRC offers a host of quality coins to consider.

GFRC is flexible and has a strong accounting system towards helping collectors purchase quality coins while on a fixed monthly budget. Let's take, for example, a collector with annual numismatic budget of $6000. That is $500 per month. GFRC could establish a plan by which a collectors transfer a fixed $500 per month (either paper check or electronic transfer) and then selects coins based on available funds in his/her account.

Below are just a few quality coins that are so typical of GFRC inventory and those to be displayed at Whitman Baltimore show.

  

  

  

Thank you for visiting the Blog and I'm looking forward to meeting many GFRC community friends at the upcoming Baltimore show. I suspect it will be a fast paced and busy few days.

Have a great week!

 

 

November 5, 2017

Greetings from the GFRC office as I'm back in Raymond for a few days before driving to Whitman Baltimore show. The arrival of Daylight Saving time brought an extra hour of precious time and some additional sleep before writing today's Blog.

Saturday at the New Hampshire Coin Expo was hot and cold. I'll explain in the Day 3 show report.

Kitchen renovations at the Fortin homestead reach their maximum chaos level upon returning home. The kitchen and dining rooms are taped up with plastic shrouds shielding other rooms. While away at the Manchester show, the kitchen cabinets were spray painted with two coats. Tonight, we are using the bathroom sink for water and cleaning dishes as the dishwasher is taped shut. On Sunday (today as I am losing track of time), the painter returns to remove the plastic shrouds and taping. While that is going on, I will be attempting to catch up the GFRC price lists with a host of new offerings. Life is not boring......

New Hampshire Coin Expo Day 3 Report

Saturday was hot and cold at the Manchester show. Please allow me to explain.

Cold - Saturday was a "tire kicker" day. Bill and I quoted a number of four figure coins plus the regular inventory priced from $300 on up. There was lots of enthusiam for GFRC coins and I'm hoping for website follow-up as on the spot show sales were minimal.

Hot - In Saturday's Blog edition, I made brief mention of a potential consignment that would be transferred that day. The individual did return with the consignment that is now a major GFRC sales event. On top of this consignment, that will be discussed next, GFRC was also selection by a Maine couple needing numismatic consulting to divest a substantial six figure estate. Much of the contents are modern coinage and Morgans not in GFRC's wheelhouse and will be steered to a local wholesale dealer. The early type and gold will be handled by GFRC.

Overall the NH Coin Expo was successful and I look forward to being back for the Spring show. A shout out goes to Ernier Botte for heavily marketing the event and bringing substantial floor traffic. Manchester, New Hampshire is in northern New England rather than being in a central location and takes effort to pull the crowds in from long distances. Local collector traffic was impressive. As always, security was solid and wish that some southern United States show promotors would benchmark Ernie for how to handle security at a smaller regional event.

 

GFRC Consignment News - The 1869 Collection Consignment

I'm honored to announce that GFRC has been selected to handle the divestment of duplicates from the 1869 Collection. Yes, this individual has turned collecting all United States coinage dated 1869 into an incredible passion. This numismatist has been carefully assembling a high grade mint state collection of copper, nickel, silver and gold date coins from the Philadelphia and San Francisco mints. Availability of 1869 finest known coinage has been the limited parameter for his collection. As upgrading took place, the duplicates were held and have accumulated. GFRC has sold several pieces into this collection and met the customer in person for the first time at Manchester show. After an enjoyable Friday discussion, we agreed that GFRC consignment service was ideal for handling an initial duplicates installment. An appointment was made for Saturday morning to evaluate and transfer a 17 piece PCGS blue box to kick start the divestment project. He returned as planned and after an hour plus of review and evaluation work, retail prices were set. We agreed to announce the entire offering in today's Blog with asking prices and then debut the lot at Whitman Baltimore. GFRC can easily handle and execute a significant divestment effort from concept to reality in just a few days.

  

The 1869 Collection Consignment

It is with pleasure that the following 17 piece 1869 dated offerings are presented with asking prices. The lot will debut at the Whitman Baltimore show. First Right of Refusal (FRoR) is available if individual items are not sold at the Baltimore show. FRoR means you will be offered the coin if available after Baltimore show. There is no time to photograph and add to the price list prior to Baltimore.

Indian 1c: 1869 PCGS MS64RB CAC gem for grade - $1150

Copper 2c: 1869 PCGS MS64RB CAC early blue label holder and so choice - $650

Nickel 3c: 1869 PCGS MS64 CAC choice original, heavy die clashing - $325

Shield 5c: 1869 PCGS MS65 CAC gem original steely luster - $1000

Seated 5c: 1869 PCGS MS65+ CAC mottled gun metal gray blue patina - $1425

Seated 5c: 1869 PCGS MS63 choice frosty original and undergraded - $425

Seated 5c: 1869-S PCGS MS64+ CAC frosty luster, 1 at 64+ and only 5 better - $1850

Seated 10c: 1869 F-104a PCGS AU50 rare R6 Short Flag business strike from proof dies - $850

Seated 10c: 1869 F-103 PCGS AU50 Short Flag old album rim toning - $425

Seated 10c: 1869-S PCGS MS62 F-101 Small Thin S frosty white and rare at this grade level - $900

Seated 10c: 1869-S PCGS MS62 F-102 Small Weak S proof fields, squared rims and devices; presently unique as all F-102s have light orange peel surfaces - $2000

Seated 25c: 1869 PCGS AU50 choice original gray with light gun metal blue under bright light, only 1 at AU50 level and few better, no CAC attempt - $1750

Gold $1: 1869 MS62 nice orange gold patina with essential no blemishes for MS62, hammered strike - $1295

Gold $2.5: 1869 PCGS MS61 CAC a true mint state example with proof like fields, so rare at this level - $4750

Gold $2.5: 1869-S PCGS AU55 CAC drop dead luster and so pleasing, really AU58 - $1350

Gold $3: 1869 NGC AU55 CAC rare with proof like fields, repatriated from Tokyo Japan auction - $3250

Gold $5: 1869 PCGS EF40 honest wear with proof like fields, conservative grading - $3450

 

Whitman Baltimore Show Arrives!

In just a few days, Gerry Fortin Rare Coins and W. David Perkins Numismatics will be setup at the Baltimore show. Our location is Booth 818 which is surrounded by Heritage and Stack's Bowers. The GFRC inventory presentation will be massive with Dan White as table assistant and Diane handling finances and administration. Already two consignments are committed for transfer (New Jersey S Mint Liberty Seated halves are noteworthy) and there will be wholesale buying starting on Wednesday. Unfortunately, Len Augsburger will not be attending the Baltimore show due to a short term health issue and will be missed behind the GFRC table.

Whitman Baltimore Show - November 9 - 12, 2017

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

 

 

Featured Coin of Day - 1911-D Indian $10 PCGS AU58 Abisil Collection

The United States $10 Indian series is an incredible challenge to complete in mint state. Five stopper dates include the 1911-D, 1915-S, 1920-S, 1930-S and 1933. GFRC is proud to be offering one of those dates in PCGS AU58 as an affordable alternative. The 1911-D has the lowest mintage of the entire series at 30,100. David Akers write the following concerning this date, "Without a doubt, the 1911-D eagle is not only one of the rarest issues of the $10 series, it is one of the major rarities, both population-wise and condition-wise, of all 20th-century United States gold coins as well. The 1911-D cannot be easily located in any Mint State grade, not even MS-60, and above the most basic Mint State level, the population dwindles to almost nothing."

GFRC is proud to be offering the follow 1911-D example from the Abisil Collection. Abisil was a named collection in Europe and the source for this wonderful example that is accurately graded by PCGS. At the Manchester show, several individuals were interested in this piece and let's see if there is follow-up in the upcoming days.

  

So ends yet another edition of the Daily Blog. Has anyone been watching the GFRC Open Set Registry and, in particular, the Liberty Seated half dollar basic set? If not, a visit may be warranted and I will discuss more in Monday morning's Blog.

Have a great Sunday and time to air blow some leaves later today.... Thanks for stopping by.

 

 

 

November 4, 2017

Welcome and thank you for stopping by the Daily Blog on a Saturday morning. This edition is once again written in Manchester, NH.

Saturday brings a close to the NH Coin Expo and return trip to Maine. So we are two down and two more to go on the Four Coin Shows in Four Weekends event plus Black Friday sale.

New Hampshire Coin Expo Day 2 Report

It felt great to be on home turf during Friday's NH Coin Expo. I've been attending the Manchester show for several decades as a collector and now, as a dealer. Having the operating space of a double corner booth along with Bill Kelly as table assistant was lots of fun. My thanks go out to Ernie Botte for working with GFRC to cement this bourse floor arrangement. As long as coin show schedules allow, GFRC hopes to attend the Manchester show in the spring and continue to be in the same location.

So far, the Manchester show has been active with GFRC enjoying sales that met expectations. The bourse opened at 10:00am and shortly there after, one could immediately hear a healthy "buzz" that is characteristic of an active bourse floor. This "buzz" continued until 3:00pm. Afterwards, the crowd slowly thinned out leaving dealers to work the floor for end of day inventory adjustments. Some dealers needed to move inventory to generate cash while other dealers were still working the floor in hope of finding a deal. Bill and I were in that latter group.

GFRC enjoyed a non stop morning as friends, customers and consignors all decended on Tables 701/716. The 1836 PCGS MS62 CAC Capped Bust quarter, that arrived from the Winesteven Collection on Tuesday, lasted all of 40 minutes in inventory before being sold to a well known customer. New purchases from the Saco River Collection were also in demand as emails immediately arrived to gain a shot. By noon, the 1915-S Pan Pacific PCGS MS65 CAC and the 1873 PCGS EF45 CAC Trade dollar were spoken for along with another customer requesting images for the 1837 PCGS MS64 CAC half dime. Walk up sales were strong and a welcomed change to last weekend's dismal PAN show.

Here is an image taken around noon time at the GFRC booth. From left to right are Gerry, Bill Kelly, Tom Ahren (Watch Hill Collection) and Rich Hundertmark.

GFRC's United States gold case was the most popular destination thought collectors still have a difficult time pulling the trigger on better date offerings. Those buying gold must overcome the desire to locate quality coins at near bullion prices on the $20 double eagle denomination. Most of GFRC gold is better date material, sourced by Osprey from Europe, and is not bullion items. Acquiring an understanding of better dates is important to recognize the difference.

Friday also brought a customer visit that may result in an important Liberty Seated and small denomination gold consignment being transferred on Saturday. More will be forthcoming on this topic in Sunday's Blog if this individual does follow through with a consignment transfer.

 

2019 Red Book Pricing Consulting

Friday also brought an email from Dennis Tucker (Whitman Publishing) indicating that the 2019 Red Book pricing update process would be starting shortly. Gerry Fortin will once again be a contributor and this time around, I plan to recommend Liberty Seated quarters pricing adjustment that reflect actual market levels. Many Seated quarter dates are woefully under priced in the guides.

 

Wrapping Up the Blog

There is little else to share this morning as already 7:00 am and time for shower and packing. The bourse opens at 8:00am for the final NH Coin Expo exhibit day and you are invited to visit with Gerry and Bill at the GRFC booth.

Wishing all Blog visitors and friends a lovely weekend. I'll be back in the Maine GFRC office on Sunday morning with the final Manchester show report and shifting attention to Whitman Baltimore preparations.

 

 

 

November 3, 2017

Greeting from Manchester NH and welcome to yet another edition of the Daily Blog.

I'm so pleased to report that power is restored at the GFRC office and life will be back to normal upon returning on Saturday. This Blog edition is being composed from the Manchester Downtown Radisson hotel and I'm thoroughly enjoying the lightning quick internet access. The For Sale page has been updated including individual price lists with a portion of the Saw Mill Run and White Pine Collection offerings but most are pieces already on hold. There is still a large number of unsold Seated quarters and halves, from these two consignments, to reach the price list during the next 48 hours.

New Hampshire Coin Expo Day 1 Report

How I enjoyed the two hour drive from Raymond to Manchester as compared to the long 10+ hours to Monroeville, PA last weekend. I arrived early and was allowed immediate check in and relaxed for a few minutes before meeting Bill Kelly in the dealer queue adjacent to the bourse floor. Once moving in at Tables 701/716, we were impressed with the 28 linear feet of table space that easily facilitated 12 cases plus a security case on the back table. For the first time, GFRC did not stack coins in cases as the NH Coin Expo table configuration easily absorbed the contents of 12 double row slab boxes plus the additional coins in Bill's two cases. Upon setup, the GFRC double corner booth is quite impressive and hopefully many Daily Blog readers will be able to attend the show on Friday or Saturday.

As usual, Ernie Botte runs one of the best shows in the country in terms of being well prepared and for the substantial amount of pre show marketing. Everything was perfectly setup with Ernie's staff checking in for our potential needs. Security was visible and strong; anothe hallmark of an Ernie Botte coin show.

GFRC New Purchases at NH Coin Expo

Bill Kelly is the Saco River Collection consignor and has actively supported GFRC during the past year with a broad range of consignments. While standing in the dealer queue, Bill shares a decision to sell a few "special" coins from his personal colllection. I was immediately all ears as the last time Bill released a few pieces, the quality was superb and GFRC customers immediately pounced on the offerings.

Following are six choice or gem quality rated coins that were purchased after setting up the GFRC tables. All have been priced and will be in the display cases on Friday morning. If you would like a shot, then please contact me immediately for a price quote and description. Let's just say that these Saco River Collection pieces are in the same league as Saw Mill Run and Seal Beach, but more diverse. All are CAC approved. Offer prices are also shown.

Capped Bust 5c: 1829 LM-2 NGC MS62 CAC Eric P Newman brown label and purchased directly from the November 2013 sale; choice original - $900

Seated 5c: 1837 Small Date PCGS MS64 CAC rose gold blue obverse with bullseye blue reverse; a gem - $1650

Draped Bust 50c: 1806 O-109 Pointed 6, No Stem PCGS VF30 CAC even light gray patina; choice original - $1050

Early Commemorative 50c: 1915-S Pan Pacific PCGS MS65 CAC beautifully toned with intermixed aquamarine, blues and rose; no question gem! - $1450

Trade $1: 1873 PCGS EF45 CAC perfectly original with light to medium gray patina; conservatively graded. - $550

Morgan $1: 1884-O PCGS MS64 CAC monster obverse electric blue and rose toning; seriously, I can't stop looking at this amazing gem. - $725

 

Global Financial News

It is official, President Trump nominates Jerome Powell as the new Federal Reserve chair. Let's jump right into select Seeking Alpha headlines.....

President Trump has nominated Jerome Powell to run the Federal Reserve once Janet Yellen's term expires in February, in a move unlikely to disturb the booming stock market. The decision came as Republican leaders unveiled their tax reform plan, which hit shares of private equity groups and homebuilders amid proposals to cap the tax deductibility of interest and mortgage payments.

President Trump's Asia trip is a critical milestone in efforts to stop North Korea's nuclear weapons growth. Much is on the line for China, Japan and South Korea. The fact that the U.S. now has three aircraft carriers in the Western Pacific should send a loud and clear signal that Trump will not kick the can to the next administration. Business people are programmed to solve problems.

"The reality clearly shows that the gangster-like U.S. imperialists are the very one who is aggravating the situation of the Korean peninsula and seeking to ignite a nuclear war," Pyongyang said through its state-run media outlet KCNA. It comes after two American B-1B bombers flew near North Korea on Thursday and as the U.S. operates three aircraft carriers in the Western Pacific for the first time in a decade.

We knew the day would come when China would become another aviation global power. The C919 is a huge step forward.

China's home-built C919 passenger jet completed its third test flight this morning, maintaining an altitude of around 10K feet as it circled above Shanghai. China's first national passenger jet aims to challenge the dominance of Boeing's 737 and Airbus's A320, bringing the Asian nation a step closer to its goal of becoming a global civil aerospace player.

 

Featured Coins of Day - More New Hampshire Coin Show Highlight Frame Content

To help Blog readers feel like they are attending the NH Coin Expo, following are the balance of quality items in the special inventory highlight frame. The 1847 half dime proof, graded NGC PF63, is a very rare offering with mintage estimated at 10 pieces. Next to the 1847 half dime proof is the finest known 1841-O F-101 Closed Bud Transistional Large O Reverse graded PCGS AU55 Gold CAC. Seeing this piece in hand is worth a trip to the Manchester show! The balance of the offerings offer substantial eye appeal including the 1881-S PCGS MS67 CAC Morgan. The 1853 $20 double eagle looks much better in hand and is graded PCGS AU58 CAC and would be a substantial Type 1 acquisition.

  

  

  

So ends the first report from the Manchester show. GFRC is off to an excellent start with the Saco River Collection purchase and hoping for a strong sales day.

I'm off to breakfast and then to the bourse floor opening at 8:00am for continued dealer setup. Please make a point of visiting with GFRC today or Saturday as this is a rare opportunity to view nearly all GFRC inventory in hand. Consignors wish for strong sales too!

 

 

 

November 2, 2017

New Hampshire Coin Expo Starts Today!

Greetings and welcome to the Daily Blog as preparations are nearly complete for the New Hampshire Coin Expo.

The GFRC office continues to be without power with forecasted restoration estimated during late Friday. Tuesday was a chaotic day as those of you who called soon learned. While trying to coordinate the sale and shipment of Saw Mill Run Collection pieces, the kitchen renovation project was in full swing. Our oak cabinets are being repainted via spray application. This means the entire kitchen contents being moved to other rooms so the contractor could tape the walls, floor and anything else that will not change color.

Thank goodness our roofing contractor, Dave McAcfee, arrived at 2:30pm to repair the lost shingles. By 4:15pm, he was done and off to another repair job before the rains arrived after dinner time.

I worked until 11:00pm separating out the Manchester show inventory and all is packed and ready for transfer. The last task of the day was stopping the generator and then restarting at 5:00am.

Going into the Four Coin Shows in Four Weekends event, I knew the amount of recover time would be short. However, I did not anticipate a tropical storm to blow through and major kitchen renovation event to happen during that time. We made the best of things with a number of Saw Mill Run coins going into the USPS shipping loop this morning.

 

GFRC Price List Update - Updating COIN Database on Server

Some of you may be wondering why the individual price lists have not been updated since the PAN show. Let me try to explain without being too technical.

All GFRC price lists are tied to one massive 10MB Excel file. A CSV version of that file resides on Hostway server and drives the individual price lists. To make an update, the Hostway CSV file must be deleted and an updated version uploaded. Once the CSV file is deleted, then all price list items disappear. My fear has been with conducting the delete and then finding out that the new CSV file will not upload properly due to limited mobile hotspot internet bandwidth.

Once in Manchester and away from the Maine power/internet grid issues, an updated will be conducted this evening. There is much new inventory to post and image content too.

 

GFRC New Consignments

I was hoping to have the White Pine Collection images ready for today's Blog but that just did not happen. Here are two single coin consignments from new individuals. Both collectors were advised that GFRC is their best alternative for marketing the following items.

The first piece is a well worn but strictly original 1916 Standing Liberty quarter with CAC approval. This piece would fit into a complete date and mintmark set without breaking the bank. The CAC approval is important for resale potential. The second is the popular 1876-CC Double Die Reverse FS-301 die variety. Doubling is bold below the olive bud and leaves under 10x loupe. The ANACS assigned grade of AU58 Details Cleaned is accurate as there are faint hairlines in the obverse and reverse fields under toning that is consistent with regular certified examples. In hand inspection of this example is definitely warranted.

 1916 PCGS FR02 CAC Standing Liberty 25c  - $1750                      1876-CC DDR ANACS AU58 Details - $1600       

      

 

Global Financial News

Gold and oil remain in tight trading ranges. What else is happening in the global financial world? Let's check Seeking Alpha headlines for news worth noting on a Thursday.

We start with Yi Xin Ping's careful control of the RMB:USD exchange rate. The Yuan has been strengthening and removes one of President Trump's leverage items during upcoming visit.

Currency strategists and traders say China is leaving nothing to chance during next week's visit by President Trump, and will likely prop up the value of the yuan, a regular target during last year's campaign for the White House. Beijing has allowed the currency to rise more than 5% against the U.S. dollar this year, after it plunged by around 6.5% in 2016, thanks to tighter management of capital outflows and weakness in the greenback.

The Bank of England is expected to start raising interest rates.

The Fed may have left interest rates unchanged, but the Bank of England is widely expected to raise rates for the first time in a decade, in one of the most closely watched policy meetings since the financial crisis. Investors will also focus on the degree of unity among policymakers as they gauge the likelihood of further increases. Sterling is inching up against the dollar ahead of the decision, which will be announced at midday London time.

The odds on favorite for new Federal Reserve chairperson is current Fed Governor Jerome Powell.

President Trump is set to pick Fed Governor Jerome Powell to be the next Fed chair, succeeding Janet Yellen, whose four-year term expires in early February, WSJ reports. He is seen as the "safe choice" because he's not expected to veer drastically from current Fed policy. That would mean gradually raising short-term interest rates in quarter-percentage-point steps through 2020, while slowly shrinking the Fed's $4.2T balance sheet.

Finally, bitcoin continues to be propelled higher on a daily basis and surpassing the $7,000 mark. Honestly, I don't understand bitcoin and have stayed away from this cryptocurrency technology.

Another day, another milestone. Bitcoin climbed past $7,000 overnight for the first time ever, giving investors serious thought if it will hit $10,000 by year's end. The cryptocurrency had a staggering $3.5B trade volume in the past 24 hours and got new impetus this week after CME said it planned to introduce bitcoin futures.

 

Featured Coins of Day - New Hampshire Coin Show Highlight Frame

Those of you who frequent the GFRC show tables will note that there is always a featured coin frame in one of the cases. Following are my favorite pieces in current inventory that will be found in the Manchester show frame. The Winesteven Collection consignor does very well with at least three of his pieces on display. Yes, the 1874-CC PCGS AU58 CAC $5 half eagle will be in the frame and I hope everyone who inspects it knows where the CC mintmarks are located........

  

  

  

That wraps up today's Blog edition. Time for last minute preparations and then the GFRCmobile heads to Manchester NH for three days of bourse floor activities. Please do stop by tables 701/716 if attending the show.

Have a great day!

 

 

November 1, 2017

Greetings and welcome to the Daily Blog on the first day of November.

Raymond and surrounding Maine towns continue to be mostly without power. Central Maine Power acknowledged the restoration challenge on Tuesday with a forecast that GFRC power would be back on by Saturday. There were no trick or treaters on Halloween evening, only the sound of neighborhood generators.

Regardless, I'm sitting in the GFRC office with warm home, hot coffee and a microwaved breakfast. After the Great Ice Storm of 1998 and a week without power in mid winter, the Fortin added separate electrical generator circuit breaker box and a industrial gasoline Honda generator. That was 19 years ago. This week, the Honda generator is performing well and only shutdown between midnight and 6:00am.

Since 1998, the advanced in cellphone technology and mobile hotspot capability is the other key factor for sustaining GFRC through this event. I've not update the For Sale page since the storm hit, however, as this is a 10 MB file and concerned about a time out issue during long upload. As bandwidth increases, I may try an upload today.

LSCC November E-Gobrecht is Published

The latest E-Gobrecht issue arrived to my inbox like clock work yesterday evening. More on this topic later today as currently downloading the PDF file and must move to the GFRC server before offering access via the Blog. This edition can also be viewed by visiting the LSCC website at www.lsccweb.org.

 

GFRC News Purchase Update

Tuesday brought bright sunny skies until about 1:00 pm. I used that opportunity to photography PAN new purchases and all consignments. The total is about 70 new coins heading to inventory or directly to customers.

One of the new purchase highlights is this finest known example of the 1877-CC F-110 PCGS MS65 Seated dime; the Lightning Bolt reverse that was discovered by Scott Grieb. I am presently aware of three examples of this significant 1877 Carson City die variety. The Type 1 reverse has bold die doubling on the denomination to the point that the letters in ONE DIME appear as an arc rather than horizontal alignment. There are substantial die cracks in the wreath. But most important, are the lightning bolt shaped spider die cracks above ONE and decending downward through (O)NE.

I've already added this example to the web-book and mentioned purchasing from Tom Reynolds at the PAN show. This piece is already sold and heading to a serious collector who is planning a Gobrecht Journal article.

1877-CC F-110 PCGS MS65 - Lightning Bolt Reverse

Priced at $2950 - Sold!

 

GFRC Consignment News

There is a substantial amount of new consignments to process today as many shipments arrived in the past week. Our good friend, the Winesteven Collection, sent along a gorgeous 1836 B-3 PCGS MS62 CAC Capped Bust quarter by FedEx on Tuesday just in time to be photographed and featured in the Blog. This is a stunning example of late die state with obverse at die state (5) and reverse at die state (3). CAC approval validates the strict originality, conservative grading and eye appeal. This piece has been assigned a Gem quality rating.

There are few 1836 CAC approved Capped Bust quarters at the mint state level rendering this piece in the condition census for overall quality.

This offering will be on display at the Manchester show and have a suspicion it might not be in inventory for the Whitman Baltimore show.

Winesteven Collection Consignment - November 1, 2017

Capped Bust Quarter - 1836 B-3 PCGS MS62 CAC - $3250

Obverse Die State (5) - Reverse Die State (3)

 

Saw Mill Run Collection Consignment

The much anticipated offerings from the Saw Mill Run Collection were photographed on Tuesday along with an evening of image processing. I'm most pleased with the following Client Gallery. Prices have been settled. If you were notified as having first FRoR on a coin, please email me for asking prices this morning and we will go from there. Again, I'm afraid to attempt a GFRC price list refresh due to marginal internet bandwidth so we must conduct business via email correspondence.

Finding superlatives for this consignment is difficult. These offerings have been part of the Saw Mill Run Collection for years since most are in old blue label PCGS holders (standard ring inserts) and with old serial numbers. Every piece is accurately or conservatively graded and most have CAC approval. Given the number of FRoRs, these group will have a short stay within GFRC inventory.

Saw Mill Run Collection Consignment - November 1, 2017

Exceptional Quality Liberty Seated Quarters and Halves

    

    

    

    

    

    

 

Global Financial News

There is a decent amount of worthwhile reading in today's Seeking Alpha headlines so let's get right to it! Gold opens the day at about $1280 and has been hovering at the level for several weeks. Crude oil is solidly at $55/bbl and we are starting to see this reflected in gasoline prices even with an end to the summer driving season.

We open with an amazing annoucement that Saudi Arabia will move to nuclear energy so it can sell more of its oil overseas.

Saudi Arabia is planning to become "self-sufficient" in producing nuclear fuel and intends to begin extracting uranium domestically. The Kingdom has also sent a request to international suppliers to build two nuclear power plants as it looks to reduce the amount of crude it burns to generate electricity so it can sell more of it overseas.

Japan is finally seeing long term political stability with the re-election of Shinzo Abe.

The Nikkei surged almost 2% overnight after Shinzo Abe was re-elected prime minister. It follows his ruling bloc's big election win last month, which reinforced support for his economic reforms, popularly known as "Abenomics." The decision also comes just days before President Trump's visit to Japan, which is expected to be dominated by concerns over a volatile North Korea.

The Amazon - Walmart war for consumer spending reaches a new level with Walmart having store parties. Reminds me of the old days and those Tupperware parties!

Wal-Mart plans to hold more than 20,000 parties at its stores over the next two months, with the first event, called "Toys That Rock," taking place nationwide this Saturday. It's part of the retailer's marketing strategy for the holiday season. Wal-Mart (NYSE:WMT) also plans to triple its online selection to 60M items, and will provide free two-day shipping when an order size exceeds $35.

Action appears at hand to slow down the flood of inexpensive solar panels from China.

The U.S. International Trade Commission has recommended the Trump administration impose an import tariff of up to 35% on solar panels to protect U.S. manufacturers. "That's below the price that people have been hoarding panels for," said Cowen analyst Jeffrey Osborne. "On the demand side, job cuts won't be as bad as feared, but on the manufacturing side, job creation won't be as big. This would have a limited effect."

And finally, FOX is winning the viewing war against MSNBC. ~Good for Hannity and Tucker Carlson!~

How did the cable news wars finish October? Back in his original 9 p.m. slot, Fox News Channel's San Hannity hosted the most-watched program of the month, delivering 3.2M total viewers and 686K in the 25-54 news demographic. October's stats for MSNBC's Rachel Maddow - 2.5M viewers and 558K news demo viewers - put her in third place, also behind Fox's 8 p.m. Tucker Carlson Tonight (2.82M viewers, 581K news demo viewers).

 

Wrapping Up the Blog.

That is about it for today's Blog. Regardless of no power, kitchen renovations are underway at an early hour and I need to shower and run into town for more generator gasoline.

Tomorrow brings setup day at the Manchester NH Coin Expo so afternoon will be spent preparing inventories for that show. Life is not dull.

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

 

 

 

October 31, 2017

Regardless of No Power - GFRC is Open for Business

Happy Halloween and welcome to the Daily Blog. As a reminder.....GFRC remains open for business on the last day of October. I would enjoy selling a few more coins to wrap up a decent sales month.

The Maine GFRC office situation is unchanged from Monday. We continue to operate on Honda generator power and connecting to the Internet via cellphone mobile hotspot. Since cable based Internet is unavailable, then mobile hotspot bandwidth is limited due to too many users. Skies are bright and sunny to start the day!

Several USPS packages were due to be delivered yesterday with the replacement carrier deciding not to come down my driveway and claiming "blocked access to mail box". This was not a truthful statement and consistent with replacement carrier's past performance issues. Doug The Mail Man is such a great carrier and wish he delivered six days a week. I've already gone to the Windham post office this morning and retrieve yesterday's mail.

The roofing contractor is a great guy and will be returning this afternoon to repair the storm damage.

Hopefully, the sun will be out long enough today to get a massive amount of coin photography done. The Saw Mill Run and White Pine Collection consignments are loaded into COIN system and I have pricing approval on the Saw Mill Run Collection items. It was difficult to price the White Pine Collection pieces last evening due to erratic CoinFacts access.

Now that Philippe has moved through, temperatures will be dropping and time to start the woodstove along with managing the generator. It is being reported that power grid damage from Philippe is more extensive than the Great Ice Storm of 1998. The last time southern Maine faced such high winds was during 1986 when Hurricane Gloria moved up through Maine.

 

New Hampshire Coin Expo Starts on Thursday

Regardless of the Maine power situation, GFRC will be setting up at the New Hampshire Coin Expo starting Thursday! I look forward to getting away and hanging out on another bourse floor with Bill Kelly.

GFRC at Manchester, NH Show - Corner Tables 701/716

 

PAN Show Robbery News

The following email notice arrived during the overnight hours from Pat McBride. It is so unfortunate that dealers do not follow the best practice of always having coins in your immediately possession when leaving a coin show and never stopping at a local restaurant with coins left in the car. At GFRC, I am a fanatic about maintaining coin possession at all times even if having to haul luggage into rest stop bathroom stalls.

This email is going out to our PAN dealer list. To those of you that were at the PAN coin show this past weekend, Doug and Ginny Bowers of Douggin Collectibles had their entire inventory stolen while at King's Restaurant a couple of miles from the Monroeville Convention Center. The robbery occurred Saturday evening 10/28 approximately 7:30pm in the parking lot of the restaurant. 

 

Global Financial News

Spot gold is being quoted at $1275 today while crude oil has increased to over $54/bbl. Following are a few Seeking Alpha headlines to wrap up today's Blog edition. We open with speculation that Janet Yellen is wrapping up her tenure as Federal Reserve chairperson.

Janet Yellen is likely presiding over one of her final meetings as the FOMC begins its latest two-day policy get-together. Fed Governor Jerome Powell is widely expected to be named chair; he has been seen as closest to Yellen of all the candidates and is set on normalizing interest rates. The Fed is not expected to take any actions when it releases its statement tomorrow, though it could point markets toward a rate hike at its December meeting.

On a positive note for the North Korea crisis, South Korea and China are normalizing relationships. I fundamentally believe that the potential for South Korea and Japan to be armed with nucleur weapons will force China's hand on North Korea. Yi Xin Ping is a clever leader and the days of the North Korea state are probably numbered.

South Korea and China have agreed to normalize relations almost a year after Beijing launched a punitive economic war against Seoul over its decision to host a U.S.-operated missile shield. THAAD has shaved 0.4 percentage points off South Korea's gross domestic product expansion in 2017, according to Bank of Korea estimates, preventing it from growing at the fastest pace since 2011.

The Bank of Japan continues to employ negative interest rates and money stimulus. Japan is unique in that the BOJ unilaterially controls the bond market and can continue to issue debt to its citizens.

Even as its peers in the U.S. and Europe begin to wind down stimulus, the Bank of Japan is holding its monetary policy steady, keeping its short-term interest rate at -0.1% and maintaining its yield curve control and asset purchases. The BOJ also trimmed its inflation forecasts, expecting core consumer prices to grow 0.8% in the fiscal year 2017/2018, lower than its previous projection of 1.1%.

 

Wrapping Up the Blog

Let's end today's Blog edition here. There is much to do including securing mail from the Windham post office, waiting for FedEx delivery and the contractor to repair a portion of my roof. Thanks for checking in and hopefully Wednesday's Blog will be completely back to normal.

 

 

October 30, 2017

Monday Afternoon Update

Southern Maine took a substantial hit from the remnants of Philippe that rolled through during overnight. Central Maine Power reports 400,000 people are without power with widespread damage to the power grid due to downed trees and power lines.

This is first time that GFRC prepared seven shipments using the Honda generator and AT&T mobile hotspot on cellphone. Land line internet is down so the cellphone hotspot keeps me connected. After wrapping up the packing and shipping, I drove six miles to downtown Raymond to local Post Office. Luckily, the office had power and the post master was in to accept the drop off. But please do expect some USPS delays for these seven shipments given the conditions. Many roads remain closed due to downed trees and hot wires.

Personal relationship with Maine contractors is so important. The roofer, who installed our new roof about 4 years ago, will visit later today to inspect the damage and decide a course of action.

Time to focus on insourcing the White Pine and Saw Mill Run Collection consignments into the COIN system during the balance of the day.

+++++++++++++++++++++

Greetings from the Maine GFRC office and no power to start the day.

Overnight winds, gusting up to 60 mph, have taken down power in southern Maine area. With daylight arriving, I see many roof shingles scattered on the lawn as first damage. Trees are swaying with most having been stripped of their leaves.

Just took Buddy out for his morning business and to survey the roof damage. We've lost about 20% of the shingles on one roof segment and must call a roofer for repairing that section. Some birches are down and time for chain saw clean up once the rains stop.

Luckily, the cellphone and laptop are on battery power so I can get a short Blog update posted.

GFRC shipping may be delayed until Tuesday as the generator does not power up circuitry in the GFRC office.

Last night, I loaded a new offering from the Half Way There Collection onto the price list.

Half Way There Collection Consignment - New Listing

1873-CC WB-7 PCGS VG08 CAC

That is it for today's Blog and hopefully we will have power restoration by later today. Thanks for visiting and see you tomorrow.

 

 

October 29, 2017

Afternoon Update

More Saw Mill Run Collection FRoRs arrived during the day..... The individual offerings list (today's Blog, below) has been updated as of 5:00pm ET.

Greetings from the Maine GFRC office and welcome to the Daily Blog.

The first event in the Four Coin Shows in Four Weekends national and global tour is done and safely back home. The return drive from Monroeville to Raymond was uneventful while arriving home after midnight. After 10+ hours of nearly continuous driving, the mind was in perpetual motion. The cure? Immediate time in the basement soundroom with a scotch and hitting the sack at 2:00am. This is the excuse for today's delayed Blog as I slept in until 7:30am.

PAN Show Report Day 3

Saturday picked up where Friday ended at the PAN show. There was limited floor traffic for two hours with several tire kickers visiting the GFRC booth and nothing else in terms of local business. Yes, GFRC failed to sell a single coin to Pittsburg regional area attendees on Saturday. Thank goodness for pre-arranged visits by the Cleveland and Port Matilda Collection consignors who hung out at the GFRC table and added quality purchases to their collections. By 1:00pm, Dan and I went into table breakdown mode and cleared the Monroeville Convention Center by 1:45pm.

PAN was the weakest floor sales show that GFRC has experienced since starting up business in 2014. The PAN event was well marketed but the Pittsburgh area floor traffic lacked funds to collect coins priced above several hundred dollars. Other dealers reported the same obversations. So PAN now falls into yet another "dealer to dealer wholesale" show category. GFRC will not be setting up at PAN in the future as the show competes with the Denver Coin Expo for my attention. In past years, I attended the Denver show, since held on the same weekend, and will be returning to Denver during spring 2018.

A special thank you goes out to my dear friend Dan White for driving up from Osprey Florida to be table assistant. Dan will be hanging out in the Altoona, PA area until the Whitman Baltimore show.

 

GFRC Consignment News

What an incredible First Right of Refusal (FRoR) response to Saturday's posting of the Saw Mill Run Collection's Liberty Seated quarters and halves. Since the GFRC community has many advanced collectors who wish to gain access, the FRoR process is an alterative approach to traditional auction. For those who are new to the FRoR process, please allow a short explanation on how the process works.

GFRC First Right of Refusal Process Explanation

- Posting of an important GFRC consignment is announced in the Daily Blog several days ahead of the event. Given the magnitude and importance of the Saw Mill Run Collection consignment, I specifically announced the time at which the Daily Blog would be uploaded on Saturday morning.

- GFRC customers visit the Daily Blog and view the consignment contents. For those coins of interest, customers send an email to GFRC rendering a FRoR request.

- GFRC records the FRoR requests based on sequential arrival of emails into my Inbox and time stamp. An Excel spreadsheet is now constructed for each major consignment with individual consigned coins and then capturing, in priority order, the arrival of FRoR requests.

- Once the consigned coins have images and pricing available, and are loaded to the price list, then customers with FRoR requests are contacted for their purchase or pass decisions. If the first person on a coin decides to pass, then the second customer is contacted until the priority list is exhausted. Once the priority list is completed, then regular customers can purchase the item at asking price.

It is important to note that GFRC administers the First Right of Refusal process in a win-win manner for consignors and customers. Prices are sent at competitive retail levels for the quality. This approach saves collectors from being caught up in a bidding war and burying themselves on a coin. GFRC community consignors are great people and simply wish to sell their coins for fair money to other collectors. My role is to administer a process that allows all parties to walk away with divestment and purchases that are viewed as fair to all involved.

By design, the FRoR process also spreads quality coins around to multiple collectors and enables a growing collector base. Those individuals who passionately check the Blog each day are rewarded with opportunities to gain access to the finest early type coins being divested by community members. This process also keeps top quality coins away from potential crack out dealers and coin doctors.

Saw Mill Run Collection Consignment Update

Following are the Saw Mill Collection consigned items and Saturday's FRoR results (number of FRoR requests). This consignment saw a high request rate on the Liberty Seated halves along with careful selections on the quarters. Please continue to consider the Seated quarters as the 1850-O, 1856-S and 1861-S are incredibly original and rare this nice. The 1844 MPD half will sell immediately once images are available as has beautiful bullseye toning and resides in old NGC Fatty holder.

Seated 25c:

1840 Drapery PCGS AU50 CAC gem original - 4

1840-O With Drapery PCGS AU55 CAC - 1

1844-O PCGS EF40 CAC - 0

1846 PCGS EF45 CAC - 1

1849 PCGS AU53 - 1

1850-O PCGS EF45 CAC toughest die marriage and undergraded due to strike - 1

1854-O PCGS AU50 CAC - 1

1855-S PCGS VF30 rare grade - 1

1856-O PCGS EF40 CAC - 1

1856-S PCGS VF35 CAC - 0

1857-S PCGS VF20 CAC rare grade - 1

1861-S PCGS VF20 CAC rare overall - 0

Seated 50c:

1840-O WB-5 PCGS AU50 CAC even gray and so choice - 4

1843-O WB-17 PCGS AU55 CAC - 1

1844 WB-4 MPD NGC AU58 CAC gem original - 3

1849-O WB-1 PCGS AU53 CAC - 1

1851-O WB-1 PCGS MS62 CAC choice golden hues - 2

1852-O PCGS EF40 CAC beautiful gun metal gray - 3

1857-O WB-102 PCGS AU55 CAC gem original - 5

 

Other Forthcoming Consignments

The GFRC consignment queue is already replenished going into the Whitman Baltimore and Tamp FUN shows. Following is the status of GFRC existing or forecasted consignments.

White Pine Collection Consignment

Coins have arrived and will be processed (weather permitting) this week. FRoRs are recorded.

Saw Mill Run Collection Consignment

Coins are transferred. Initial FRoR announcement is completed but remains open. Consignment will be processed (weather permitting) this week.

New Jersey Collection Consignment

A complete set of Liberty Seated halves in AU-MS grades sans the 1878-S. The San Francisco mint pieces will be transferred at Baltimore followed by the New Orleans dates at Tampa FUN and Philadelphia dates are March 2018 Baltimore. The consignor will continue to hold onto the Carson City dates as too emotionally difficult to part with these.

Upstate New York Collection Consignment

This consignment was announced in yesterday's Blog and also shipped on Saturday.

Hoosier Collection Consignment

A new consignor who has a substantial Liberty Seated quarter collection. He plans to consign six importance pieces that will garner attention.

Port Matilda Collection Consignment

A incremental consignment was transferred at the PAN show and will be announced on Monday for FRoR consideration.

 

Wrapping Up the Blog

It is already 9:15 am ET and readers are probably wondering why the Blog is late this morning. Let's end here and upload today's ramblings.

There is much to do this morning with re-organizing the GFRC office and catching up on email correspondence and COIN database updates. I will be back on Monday morning with a regular Daily Blog edition.

Thank you for visiting and being part of the GFRC community.

 

 

October 28, 2017

Greetings once again from the PAN show and Monroeville PA. The PAN show wraps up today with tomorrow's Blog being written from the GFRC Maine office.

PAN Show Report Day 2

The best way to describe the second day at PAN was sleepy..... Attendance was low and those who did attend were mostly interested in moderns or value coins. GFRC and the LSCC regional outreach team did their best to provide collector education with limited results. There are two stories that accurately summarize Day 2 at the PAN show.

Two individuals spend considerable time at the LSCC table chatting with Dennis Fortier and Carl Feldman as one of the collectors wished to attempt the Liberty Seated dollar series. He had just completed a Morgan dollar set and looked forward to the United States history associated with Liberty Seated coinage. The collector was pointed to the GFRC table as a potential first stop to locate quality Seated dollars offerings. The hand-off is made followed by my spending about 20 minutes with the individual and explaining the challenges of collectoring Liberty Seated dollars. Old cleaning is a major issue for the series even for pieces certified by the TPGs. Then there are rim bumps and other surfaces issues to watch out for. The collector examined the GFRC offerings including the 1846 PCGS EF45 Seal Beach consigned piece at was a strong candidate as a starting point. The Seal Beach example with strictly original with lovely gray surfaces and fairly priced.

This individual indicates that the offering is nice but too expensive and walks away. One hour later he returns to the LSCC table to display his bourse floor purchase; a raw 1843 Seated dollar that was obviously cleaned and over graded by the dealer as reported by the LSCC club table team. The dollar was "cheap" and enough said here.

Second story....

An individual walks up to the GFRC table and is enamored by the better quality/higher priced coins in the special display tray. In the tray was the 1874-CC $5 gold half eagle graded PCGS AU58 with CAC approval. This is a five figure coin. The individual wishes to see the coin in hand and starts the inspection process without a loupe. After several minutes, he looks at me and asks where are the CC mintmarks? The coin was promptly returned to the case.....

Yes, PAN Day 2 was that kind of day with only one small sale after sitting on the bourse for 10 hours. I started writing break news updates in the Blog to kill time. Seriously, the walk up 1876-CC DDR Trade dollar is an attractive example with faint hairlines. ANACS accurately designated the piece but in hand inspection should convince you that this one is worth owning on a value basis. The new 1876-S F-124 die variety is already sold.

PAN Show Breaking News

New 1876-S Type 1 Obverse Die Variety Surfaces - The discovery piece is graded PCGS AU58 with original frosty luster. This variety will be listed as F-124. Obverse has three obvious die defects including a large die blog on the lower leg.

New Walk Up Consignment - 1876-CC DDR FS-801 Trade Dollar ANACS AU58 Details; pretty gun metal gray patina over faint hairlines under 10x loupe. A popular die variety with bold doubling of the olive branch. Fully struck. PCGS retail guide is $4750 with fair value at $3500 based on CoinFacts records. Offered at $1600.

 

GFRC Consignment News

Saw Mill Collection Consignment

Ok, you've all being waiting for the Saw Mill Run Collection consignment announcement. So here comes the latest offering. I'm unable to discuss the quality and grade rarity of these Seated pieces as writing the Blog from hotel room and coins are locked on the bourse floor. Following is a quick listing of the consignment contents with select qualifiers from memory.

Seated 25c: 1840 Drapery PCGS AU50 CAC gem original; 1840-O With Drapery PCGS AU55 CAC; 1844-O PCGS EF40 CAC; 1846 PCGS EF45 CAC; 1849 PCGS AU53; 1850-O PCGS EF45 CAC toughest die marriage and undergraded due to strike; 1854-O PCGS AU50 CAC; 1855-S PCGS VF30 rare grade; 1856-O PCGS EF40 CAC; 1856-S PCGS VF35 CAC; 1857-S PCGS VF20 CAC rare grade; 1861-S PCGS VF20 CAC rare overall

Seated 50c: 1840-O WB-5 PCGS AU50 CAC even gray and so choice; 1843-O WB-17 PCGS AU55 CAC; 1844 WB-4 MPD NGC AU58 CAC gem original; 1849-O WB-1 PCGS AU53 CAC; 1851-O WB-1 PCGS MS62 CAC choice golden hues; 1852-O PCGS EF40 CAC beautiful gun metal gray; 1857-O WB-102 PCGS AU55 CAC gem original

More Consignments Notices!

Upstate New York Collection Consignment

On Friday, two more emails arrived with substantial consignment notices. The Upstate New York Collection is back with a substantial offeing of toned early type coins across all denominations. The consignment totals fourteen pieces with five being CAC approved. More on these in Sunday's Blog.

New Consignor - Collection Name to be assigned

A GFRC customer approached with an important Liberty Seated quarter consignment possibility. The offering includes six pieces with several being important mintmark die varieties in rare grades. Again, more on these in Sunday's Blog.


Wrapping up the Blog

It is time for breakfast, then packing followed by the last day on the PAN bourse floor. If floor traffic remains anemic, GFRC will be packing early and catching an early start back to Maine.

Thank you for visiting. I will be recording the FRoRs in a separate spreadsheet for the Saw Mill Run Collection. Have fun and a great day.

 

 

October 27, 2017

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

PAN Show Report Day 1

Dan White and I are enjoying ourselves at the PAN show along with conducting decent business. PAN is a very well run show with Pat McBride handling each preparation detail to our satisfaction. Meeting new Pittsburg area dealers was a pleasure along with careful buying of top quality coins. Having the LSCC and Barber club table across from GFRC added to the fun.

Pursuing top quality coins for inventory takes much effort and careful consideration. Some dealers handle larger volumes than GFRC but it is obvious that volume comes at the expense of quality. Table assistant Dan White is quickly learning this fact as he works the floor towards buying on behalf of GFRC. Yesterday's additional morning dealer setup time allowed for careful review of fellow dealer inventories. When top quality coins are located, the asking prices are typical strong and firm. Sometimes GFRC has to walk away and other times we believe there is a small amount of margin available and we buy. This decision process takes much knowledge and years of experience in evaluating surfaces for strict originality and potential die varieties. Forget trusting the TPG services since there is so much variation in their holders.

GFRC buying was limited to seven coins on Thursday. There were two important highlights;

- Finest known 1877-CC Type 1 F-110 Lightning Bolt Reverse die variety; yes a Seated dime. The Lightning Bolt reverse is conservative listed as R5 rarity with less than a handful known. The newly identified example is graded PCGS MS65 and absolutely gem for the grade with hammered strike. This piece is available.

- 1861-O PCGS MS62 W-5 Liberty Seated half. This piece was fully original with gorgeous cartwheel luster and light gold rims. The W-5 die pairing is a Louisiana Administration strike and a better variety. I've seen plenty of W-3 and W-7s but not a W-5 at this grade level. The lovely specimen was immediately placed in an advanced collection and is sold.

The balance of the coins purchased include:

Capped Bust 5c: 1829 LM-13.1 PCGS AU58 CAC choice original; 1833 PCGS EF45 choice original ebony gray

Seated 10c: 1861 PCGS EF45 crusty choice original; 1861 PCGS EF45 CAC choice original; 1876-S PCGS AU58 frosty original

Capped Bust 25c: 1831 ANACS EF45 OWH choice original with circulated cameo gun metal gray-blue fields

 

GFRC Consignment News

White Pine Collection Consignment

I'm pleased to report that more than half of the White Pine Collection pieces, announced in Thursday's blog, are already under FRoR hold. The emails arrived quickly with several pieces being doubled booked. I'm expecting to have the White Pine Collection consignment waiting for me upon returning to Maine office.

Saw Mill Run Collection Consignment

Another Thursday highlight was a visit by the Saw Mill Run Collection consignor to the GFRC table during the afternoon hours. Saw Mill Run and I have been close friends for years and enjoyed each others company including dinner with wood oven pizza and Pittsburgh area micro brewery beer. Dan White joined us for dinner with the company and conversations being outstanding. This is why I love the numismatic hobby and business so much. Advanced collectors are special people with passion and long term perspectives.

Yes, the latest Saw Mill Run consignment was transferred to GFRC and is very noteworthy for Liberty Seated quarter and half dollar collectors. The consignment totals 22 pieces with an estimate retail value approaching $30,000. These are top quality coins that have been off the market for years and difficult for Saw Mill Run to part with.

I will be announcing the contents in tomorrow's Blog which will be published around 7:00 - 7:15 am.

New Jersey Collection Consignment

Given the importance of the Saw Mill Run Collection consignment news, I believe this would be the key highlight from PAN. Well that is not the case.....

GFRC is incredibly pleased and honored to have been selected to handle the divestment of the New Jersey Collection of Liberty Seated halves.

This is a complete set except for the 1878-S. All pieces are TPG certified and in high end AU or Mint State grades and were assembled during the last 40 years. Yes, 40 years! This individual is currently processing the collection through CAC in preparation for the sale. More will be forthcoming on this topic between now and Whitman Baltimore show. The initial numismatic property transfer will take place at Whitman Baltimore.

 

Wrapping Up the Blog

Let's end today's Blog edition here as time for breakfast and opening the GFRC booth prompty at 8:00am. Please check back during the day for potential new purchase announcements and other breaking news from the PAN bourse floor.

Thank you for visiting and have a great day.

 

 

October 25-26, 2017

Greetings from Monroeville, Pennsylvania and the PAN show.

Wednesday was a long day with 4:30 am start from the GFRC home office and arriving eleven hours later into Monroeville. Wet driving conditions were limited to Maine and Massachusetts as the roadways were dry by the time I reached Hartford. The worst trip segments were Hartford, with its typical morning rush hour traffic, then Waterbury (perpetual construction on I-84) and finally New Jersey I-78 into Pennsylvania. Once across the PA border, the trip was enjoyable include the decision to take the Pennsylvania Turnpike Pike. This was the first time on this roadway with its beautiful autumn scenary and limited traffic. I arrived to the Monroeville Convention Center before 4:00 pm with Dan White having already set up cases and lights at Table 801. We immediately when to work and moved inventory into the cases followed by some wholesale business with local dealers.

GFRC is offering seven cases containing ten double row slabbed boxes for sale starting today. All the United States gold is on hand along with nearly all the Morgan dollar inventory. As for early type coins, all Capped Bust half dimes, dimes and quarters are in the cases along with 1807 through 1829 Capped bust half dollars. And of course, there is a robust offering across all Liberty Seated denominations.

PAN also features a LSCC Leadership Team quorum as the LSCC club table is directly across from GFRC. On hand are Carl Feldman, John Frost and Dennis Fortier to share the virtues of collecting Liberty Seated coinage. We are all hoping for a well attended PAN show and public access starting at noon.

Unfortunately, there are no new purchases to report in today's Blog. As you can imagine, the eleven hour drive and show setup pretty much emptied my mental gas tank. Instead, there was an early dinner and then catching up on customer emails and orders before calling it a day. Dan and I are heading to the bourse floor early today and will be searching out potential new inventory with fresh minds.

 

GFRC Consignment News

Of utmost importance to the GFRC business model and Trading Desk is a steady flow of top quality consignments. I'm really excited this morning based on email arrivals and consignor conversations that took place on Wednesday as some outstanding Liberty Seated quarter and half dollar consignments have been committed. November and December will be exciting indeed!

White Pine Collection Consignment

I'm pleased to announce another consignment from the White Pine Collection. Those astute buyers, who carefully watch the 30 day new listing price list, recognize how quickly the last White Pine Collection consignment sold. I wrote a substantial check to this individual on Monday and now he is sending another installation of quality Liberty Seated quarters and halves. Here are the contents to tickle your fancy on a Thursday morning.

Seated 25c: 1847 PCGS AU50 CAC; 1853 No Arrows PCGS VF20; 1865-S PCGS G06 CAC

Seated 50c: 1848 PCGS AU53 choice original; 1860 PCGS AU53 CAC; 1863 PCGS VF35; 1872 PCGS AU58; 1878 PCGS MS62 CAC very choice

Saw Mill Run Collection Consignment

The Saw Mill Run Collection consignment is well known for his outstanding Liberty Seated coinage with nearly all being CAC approved. Upon arriving to Monroeville, I called this individual for dinner appointment on Thurday evening and to schedule the transfer of his latest consignment. He is an incredibly busy technical management professional but we did manage so squeeze in a few hours for our hobby time. An email arrived early this morning with the consignment contents. Let's just say that Seated quarter and half dollar collectors will be thrilled to gain access to this type of material without having to shop and attend multiple larger auctions.

Once I have the Saw Mill Run coins in hand, then the consignment contents will be published on the Blog for FRoR. This will take place on Saturday morning.

Copper Harbor Collection Consignment

The Copper Harbor Collection owner is a collector in transition. Older collections, assembled in the past few decades, are being divestment with the monies moving towards top quality Liberty Seated coins. Recently, this individual consignment a large lot of large cents. Below are two early pieces that were previously certified by PCGS and resides in first generation rattler holders. This two offerings are immediately available and in the PAN show cases. The balance of the collection, totally 15 pieces, is at PCGS for grading.

Copper Harbor Collection Consignment - October 24, 2017

               1803 Draped Bust PCGS AU58 Rattler - $5000                            1819 Coronet Head Small Date PCGS MS63RB - $1200       

      

 

Wrapping up the Blog Early

It is already 7:30am and time for a quick breakfast as the PAN bourse opens to dealers in 30 minutes. Thanks for visiting and checking in. Have a great day and looking forward to meeting with collectors who will make the journey to the PAN show during the afternoon hours.

 

 

 

October 24, 2017

Welcome to the Daily Blog on a Tuesday morning and thank you for stopping in.

Much needed rains will arrive later today and continue through Wednesday. The timing is coincidence with the drive to Pennsylvania for the PAN show but we will make the best of the wet driving conditions until reaching the Pennsylvania border.

I'm feeling positive about the status of the GFRC office going into the Four Coin Shows in Four Weekend event. The consignment backlog has been process with all slabbed coins reaching the price list on Monday. Some raw lower priced coins remain and I will attempt to be add those to the price lists today. More GFRC coins will be populating the eBay store in the upcoming days also. Today's primary task is sorting through inventory, determining the PAN offerings and then loading all that is necessary to conduct a productive GFRC display.

 

New Hampshire Coin Expo is Next Week - November 2 - 4, 2017

I'm really excited about the Manchester, NH coin show next week! Monday brought a check in with Ernie Botte and confirmation that all is ready for the massive GFRC inventory display at this show. We've settled on 11 cases of inventory across double corner booth 701/716. Bill Kelly is ready as table assistant and with his inventory including a CAC submission that returned yesterday. Overall, GFRC will have over 900 slabbed coins available for purchase and a much larger offering than Denver ANA and Whitman Baltimore. All the United States slabbed gold, toner Morgans and most of the Liberty Seated coinage will be available for viewing and purchase. I'm also planning on bringing a wholesale box of material that has aged and needs to be moved out. It will be quite the event!

Ernie Botte always runs top notch show regardless of locations and has been heavily marketing the New Hampshire Coin Expo on Facebook. The show and GFRC display will be worth the drive from all New England points. I'm hoping for a strong turnout and positive sales momentum that will enable aggressive Whitman Baltimore pre-show buying the following Tuesday and Wednesday.

GFRC at Manchester, NH Show - Corner Tables 701/716

 

GFRC Consignments Immediately Wanted - Catch Tampa Winter FUN

Yes, the GFRC consignment queue is currently empty of major submissions and a perfect time to consider a divestment of duplicates or even a major collection to be featured at Winter FUN show in Tampa. Once the Black Friday sale wraps up in late November, there is the entire month of December to process consignments and have ready for the FUN, Sarasota, Baltimore and Dalton shows. Astute GFRC customers are recognizing that better quality type coins are selling rapidly off the 30 day price list as there is substantial demand. GFRC consignment commission rates are the most favorable in the industry for collectors. Where else do collectors secure Client Galley marketing of their coins in the Daily Blog coupled with a robust First Right of Refusal program? Only at GFRC.........

 

Gerry Fortin Profile in November Numismatist!

If Blog readers are ANA members and receive the Numismatist, then you've already seen my profile in the November issue. Caleb Noel did a magnificent job with the interview and consolidating key achievements in this article. My semiconductor technology background played an important role when approaching the numismatic hobby due to access to technology roadmaps that stretched a decade ahead of current internet and consumer electronics. Completing The Definitive Resource for Liberty Seated Dime Die Variety Collectors and publishing online was a huge personal accomplishment and set the stage for others to follow with numismatic eBooks. Did you know that the marketing agency for Fairchild Semiconductor was selected for building the Seated dime web-book? The project was not inexpensive, while the results have stood the test of time.

 

Global Financial News

Spot gold prices have been firm at the $1280/oz level while global equity markets and Bitcoin continue to climb into record territories. Gold is behaving as a financial hedge or insurance while equities are driven by hot money from ECB and Japanese stimulus efforts. The Bank of Japan continues down the path of more stimulus per following Seeking Alpha headline.

The Bank of Japan is weighing a small cut to its inflation projection for this year in a quarterly report to be released next week, Bloomberg reports. Lowering the forecast will reinforce the view the BOJ will carry on its easing program long after its global peers have moved in the opposite direction. The divergence could also trigger the yen to weaken around ¥120 vs. the dollar.

Venezuela is spinning out of control with government debt defaults upcoming.

Venezuela has now missed $586M in payments tied to the debt of the government, state oil giant PDVSA and utility Electricidad de Caracas, just days before the first of two can't-miss debt deadlines. "I don't see how any person who's involved in Venezuelan debt can be anything except concerned, except for those who have credit default swaps," said Russ Dallen, managing partner at Caracas Capital Markets.

Brexit divorce with Europe is becoming more complex......

Theresa May has signaled that any Brexit transition agreement would be put together as part of a wider trade pact, potentially stripping companies of the time they need to prepare to leave the EU. Businesses have become increasingly vocal in recent weeks over fears that Britain could crash out of the world's biggest trading bloc without a deal, sending shockwaves through markets and supply chains.

 

Featured Coins of Day

Please consider a GFRC purchase today! There are hundreds of quality coins on the GFRC price lists with most being consigned. Each consigned coin that is purchased enables capital flow to the consignor for his or her hobby. This is the basis for the GFRC community and the Trading Desk. October has been an excellent month for the Trading Desk as nearly 20% of consignment sales have been converted into new GFRC sales. Let's keep top quality coins within our community.

Here are some quality Liberty Seated dimes minted between 1860 and 1872. Students of the series well understand how difficult these dates are in strictly original condition with gray patina and CAC approval. Enjoy the display and please consider a purchase. I'm sure a few of these will not be around after the upcoming coin show schedule.

  

  

  

There will be no Daily Blog edition on Wednesday morning as the PAN show drive will commence while most readers are still sleeping. I will be back on Thursday morning with a PAN show set-up update and hopefully have a few new purchases to discuss. Please check back on Friday and Saturday for news on the upcoming Saw Mill Run Collection consignment that will be transferred at PAN.

Thank you for being loyal Blog readers and I'm so pleased to know that many of you secure a daily "Coin Fix" via the Blog. Have a great day!

 

 

 

October 23, 2017

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

Southern Maine is covered in thick clouds and fog as the day starts but weather conditions will improve by mid day.

Sunday brought another beautiful Autumn season day with temperatures well above normal. After spending the entire day in GFRC office, the day wrapped up on the back deck with a much deserved scotch (Stephen Pettys' Blue Label Johnny Walker) and quiet time overlooking peak 2017 foliage. Following is the final image of the Fortin back lot view for this year. Thank you for sharing the color transitions with me during the past month. Careful inspection of the image will reveal another brush burn pile forming and now, a row of tree logs that must be split. Progress on clearing the back fieldstone wall is also evident in this image (lower right behind logs). As deciduous trees drop their leaves, the coastal horizon is becoming more apparent.

 

The Four Coin Show in Four Weeks event has arrived and preparations are underway. Actually, I'm looking forward to spending time on the road and conducting business on bourse floors. One can quickly grow too isolated by spending time in the office on a continuing basis. Meeting collectors and old friends is as a fundamental to the hobby as the coins themselves.

GFRC at PAN Show (Pennsylvania Association of Numismatists)

Dan White called yesterday to catch up and align schedules for the PAN show. Dan is also excited about being back on a bourse floor and will also be a table assistant at Whitman Baltimore show along with Len Augsburger. Dan and I plan to be active at the Baltimore pre-show this year.

Here is the final PAN bourse floor layout and GFRC table location reminder. The GFRC table is located away from the entrance but the short walk will be rewarded with a huge selection of Liberty Seated, United States gold, Draped and Capped coinage and awesome toner Morgans. Regional show attendance is an ideal time to discuss and/or transfer new consignments coupled with regular sales activities.

PAN Coin Show Bourse - GFRC Table 801

October 26 - 28, 2017

 

GFRC Consignment News

As mentioned earlier, Sunday was a long day in the office towards catching up on consignments. The Wisconsin Collection consignment reached the price list followed by making contact with Jim Poston concerning rebuilding the GFRC eBay store. Already, 15 coins have been added to the store with more to follow.

Time was spent processing images from the Indiana Collection and for several more offerings from my own reference collection. Following are galleries illustrating the incremental offerings that will be loaded on the price list today. There is not question that GFRC has the largest selection of Liberty Seated dimes in the numismatic industry.

Gerry Fortin Reference Collection Consignment - October 22, 2017

 1854-O Unlisted PCGS AU58 Choice Original

 

                  1888 F-110 PCGS MS 62 CAC                                         1889 F-106 Doubled Die Rev #3 PCGS AU53       

      

 

Indiana Collection Consignment - October 23, 2017

A Nice Small Denomination Liberty Seated Offering

    

   

 

Global Financial News

There is much to share this morning concerning global activities that are not covered in the 24 hour sound bite media. Seeking Alpha headlines are well written and informative. So let's get started with the China and North Korea trading relationship.

China's exports to North Korea jumped 20.9% in the first three quarters of 2017, as Asia's largest economy exported $2.55B in value to the pariah state, but its imports during the nine-month period slipped 16.7%. Increased pressure? Trade between the two nations fell in September, as exports to North Korea dropped 15% to $266M, while imports tumbled 49% to $146M.

Japan's leadership was solidified under current Shinzo Abe's government. Note that the BOJ continues with massive money easing with some of those monies supporting the United States equity markets.

Shinzo Abe's convincing election victory lifted the Nikkei overnight to its highest in 21 years, climbing 1.1% to 21,697, with the prime minister on track to become Japan's longest-serving leader. The super majority will extend the lifespan of "Abenomics," allowing the BOJ to continue with massive monetary easing, even as the Fed seems determined to hike rates again in December.

Europe is undergoing more separatist pressue. First was Brexit, then Catalonia. Now two of Italy's regions are seeking greater autonomy. It appears that central EU policy makers in Brussels (and guided by Germany) are finding themselves out of step with regional enclaves.

Nearly half a million people flooded Barcelona's streets on Saturday in a huge protest over the future of Catalonia. Spanish Prime Minister Mariano Rajoy announced earlier that he would invoke special constitutional powers to fire the regional government and force a new election, countering the area's move towards independence, but local leaders vowed to never accept direct rule from Madrid. Euro -0.3% to $1.1744.

European Parliament President Antonio Tajani said Europe should "fear" the spread of small nation-states as Spain struggles with Catalonia and two of Italy's wealthy regions voted in referendums on greater autonomy. As leading members of the anti-migrant, anti-EU Northern League, Lombardy and Veneto, which account for 30% of Italy's GDP, want to keep more tax revenue and control policy areas like immigration, security, education and the environment.

Finally, Tesla will be building an automative factory in Shanghai as it gains more market share in China.

Helping it gain traction in China's fast-growing EV market, Tesla (NASDAQ:TSLA) has reached an agreement to set up a wholly owned factory in Shanghai's free-trade zone, WSJ reports. The arrangement, the first of its kind for a foreign automaker, could enable Tesla to slash production costs, but it will still likely incur China's 25% import tariff.

 

Wrapping Up the Blog

Let's skip the Featured Coins section as I need to immediate get to a shower followed by completing today's packing and shipping. This is the last day to wrap up open consignments and get consigned coins into inventory boxes for transport on Wednesday. More items in GFRC inventory will also be showcased in our eBay Store. Tuesday will be wholly dedicated to preparing for the PAN show.

As a reminder, just because I'm traveling to coin shows does not mean that online orders should be ignored. GFRC is open 24 hours per day for online orders. Orders received through tomorrow (Tuesday) can be immediate shipped to well known customers. Regular shipping will take place between PAN and Manchester NH show as there are four full office days between these two regional shows. So please consider placing an order as GFRC has substantial quality inventory that must be relocated into collections.

Wishing everyone a great week and thanks for visiting the Blog.

 

 

October 22, 2017

Welcome to the Daily Blog and thank you for visiting.

Sunday commences with hot coffee and breakfast at the laptop while overlooking a dark landscape. Kitchen renovations continue as a contractor arrived at 6:45 am to remove oak cabinet and drawer doors for painting in his shop. On Friday, a center island was installed. Yesterday brought the assembling of bar stool type chairs. Now the cabinets will be painted to match the colors of the center island.

There are no consignment previews in today's Blog as I pretty much took the Saturday off after morning shipping. Month to date, GFRC business is exactly on Matt's revenue forecast and with an 11 hour drive to Pittsburgh upcoming on Wednesday, time off was warranted. "Time off" meant hanging out in the back wood lot with a chain saw and on the John Deere tractor blowing leaves. A perfect way to spend a warm October afternoon!

Autumn 2017 foliage colors have been a tad disappointing. The lack of cooler temperatures and hard frost have resulted in uneven colors. Sugar maples are past peak colors and dropping leaves while red and white oaks are less than 50% through their color change. Birches are somewhere in between. Here is an image of a neighbor's sugar maples taken during Friday health walk. Note the long afternoon shadows at 2:30 pm as the sun moves progressively lower in the sky.

 

New 1856 Small Date F-118a Die State Added to Web-book

The discovery of a significant Liberty Seated dime die variety or die state is an uncommon event these days. The series has been thoroughly researched by yours truly and through crowd sourcing after The Definiteve Resource for Liberty Seated Dime Die Variety Collectors online reference was published during 2004.

However, a really cool and important die variety surfaced in September as part of the AuburnNY Accordian consignment. Included in the lot was an 1856 Small Date dime with die cracks connecting the left obverse stars. No mention of those die cracks was found in the web-book, so the piece was sent along for evaluation and sale. Wow....what a find and please read on. Some background is necessary to appreciate the significance of this AuburnNY Accordian discovery.

When performing Seated die variety research in the early 1990s, one of my main contacts was a young Jason Carter who worked at Heritage Auctions. Jason would preview the incoming non auction lot Seated dimes arriving at Heritage and set aside the best pieces. He would kit them in a package and ship to me for purchase. I distinctly remember the invoices with the hand written note....You Need to Buy These! While this was going on, a massive Liberty Seated dime hoard appeared in Europe and specifically, in Hungary. The hoard contained rolls of certain dates. Jason contact me as Heritage was handling the purchase and repatriation. I remember flying to Dallas and meeting with Jason in my hotel room. He arrived with several small boxes of Liberty Seated dime rolls. I can remember a nice range of dates but focused on three dates for purchases since my funds were limited during 1992. The dates were 1856 Large and Small dates, 1868, 1873 With Arrows.

The 1856 dated roll produced no new Large Date die variety discoveries and marked this date as complete. The Small Date pieces produced several new varieties including one that become listed as F-118. The Hungary hoard coins were not choice. Many had faint corrosion from ground contact and another reason I was careful with purchases. The current F-118 plate coin, as shown below, is the original piece from the hoard as was listed as a date position variety. I expected to locate a better example during subsequent years but guess what? Until today, no upgrades were ever located.

        

 

Fast forwarding to September, the following PCGS EF45 dime is consigned. Yes, there are die cracks connecting Stars 1 through 5 but other diagnostics points were much more important given the EF45 grade and hammered strike. Following is the new 1856 Small Date F-118a plate coin.

        

 

Now here are the major attribution points for the later (a) die state.

1856 Small Date - F-118a Obverse Diagnostic Points

        

        

Amazing isn't it? The right obverse field is covered with die pitting marks with some extending into Liberty's gown and the shield. That was not all to be identified. Looking carefully at the date punch, I noted something protruding downward from the base. This artificat is also visible on the original Hungary Hoard piece but the lower grade and rough surfaces masked the anomaly. On the AuburnNY Accordian piece, the anomaly was quite clear and looked like a misplaced digit. Inspection under a stereo microscope at high power convinced me that the anomaly is the left and right vertical segments of the upper loop of an 8 digit.

Saturday evening was spent adding the F-118a die state to the web-book. The complete write-up can be viewed here. Mike Mucedola is the individual who identified this 1856 Small Date dime being different, Gerry Fortin did the variety analysis and Dr. Tim Cook adds the piece to his massive Seated dime variety collection.

 

Feedback on Friday's Question: Mailing List vs. Visiting the Daily Blog....Which do you prefer?

Another GFRC customer weighed in on this topic and wrote...

Hello Gerry,

My vote is to continue the blog. I, for one, sincerely appreciate your efforts to produce it each day. I would probably have to check into "Coin Rehab" if the blog was not available. It provides my "Coin Fix" for the day.

 

Please Consider a GFRC Purchase Today!

I'm planning on spending most of the day in the GFRC office towards adding the Wisconsin Collection consignment to the price list and preparing the Indiana Collection images for preview in Monday's Blog. Shipments for the coming week will be limited to Monday and Tuesday as the PAN show journey starts on Wednesday and returning home during early Sunday morning hours.

If you are a well known GFRC customer, purchases made in the next 48 hours will be immediately shipped in advance of payment. By Tuesday noon, I'm packing inventory for the PAN show and organizing customer pick-ups at the show.

 

Featured Coins of Day

Today's Blog closes with offerings from the Gansu Collection consignment. Mr. Sun is a lovely chinese business person who also has a passion for world wide numismatics. I met Mr. Sun years ago at the Yunzhou Antique Mall and helped him build a quality collection of United States coinage. During the April 2017 GFRC educational event in Shanghai, Mr. Sun consigned his collection and asked that I bring, during November Yunzhou show, 1907, 1908 and 1908-D No Motto $20 St. Gaudens as a matched set; PCGS graded. He is hoping that much of his consignment can be sold to fund the $20 gold pieces.

Here are some of the remaining Gansu Collection items that need to locate a good home in the near term. Offers will be considered.

  

   

  

Again thank you for visiting on a Sunday morning. I'm off for a health walk and then a long day in the GFRC office to catch up on consignments before the PAN show.

Have a great day and please think of GFRC if you need a coin fix!

 

 

October 21, 2017

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

There is much to cover in this edition but first, I simply wish to say that CNN's attack on General John Kelly is depressing. Civility is extinct at the "news" outlets and one has to wonder on the long term ramifications. Great presidents like Franklin D. Roosevelt and John F. Kennedy would have been destroyed by today's 24 hour media and their political sainthood standards. You well know what I am talking about.... Now that I have that off my chest, let's move on.....

This weekend is the calm before the storm and attempting to be caught up with consignments by Monday. I'm taking time off today to enjoy working outdoors and catching the last of the warm autumn days. Wednesday brings the long drive to Pittsburgh and the start of the Four Coin shows in Four Weekends event.

Interesting Factoid From Quora Digest

Each day, I receive an email from Quora that contains questions and responses. Rarely do I quote the content in the Daily Blog for a variety of reasons. Quora does satisfy my need for continuous learning outside of numismatcs, so I stick with the emails. Yesterday, someone asked, "Is the US Navy a paper tiger? Someone dealt with the question with the following response. I did not realize the size of the United States Navy fleet until reading this list. Closing comment is from the individual posting the list and hope no one is offended.

Commissioned (USS);

10 - Aircraft carriers
22 - Cruisers
64 - Destroyers
51 - Attack submarines
14 - Ballistic missile submarines
4 - Guided missile submarines

1 - Afloat forward staging base
9 - Amphibious assault ships
2 - Amphibious command ships
10 - Amphibious transport docks
12 - Dock landing ships
9 - Littoral combat ships
11 - Mine countermeasures ships
13 - Patrol boats
2 - Submarine tenders

That right there will kick your ass. Anywhere. Anytime.

GFRC Consignment News

The GFRC consignment window is now closed for those hoping to have their coins exhibited at PAN, Manchester NH and Baltimore shows. The Wisconsin and Indiana Collection consignments are in process and will be finalized in the next 72 hours.

A FedEx package arrived from Seal Beach Collection at 9:30am Friday. Seal Beach and I were amazed that the transfer time from California to GFRC Maine office was only 16 hours! Great job FedEx. Consistent with a sports track relay race and keeping the baton always moving, this consignment was photographed by noon time and images were posted in the Blog by 2:20pm. Seal Beach approved pricing at 4:19 pm ET. As of this morning all but the 1847-O half are on hold. This is the power of the Daily Blog and GFRC's numismatic community building.

Seal Beach Collection Consignment - October 20, 2017

1847-O WB-101 WB-3 PCGS VF20 R5                                                       1871 PCGS AU58 CAC      

      

                1876 PCGS MS63 CAC                                                               1879 PCGS MS63 CAC Rattler     

      

 

GFRC New Purchases

Here are two St. Gauden $20 gold pieces purchased at my favorite Portland coin shop. Prices are competitive for the quality. If the 1924 $20 does not sell by end of November, then it is going into the bank vault as part of a physical gold accumulation.

GFRC New Purchases - $20 Gold

1908-D No Motto PCGS MS64 - $1850                                                  1924 PCGS MS62 OGH PQ - $1400 

      

 

Feedback on Friday's Question: Mailing List vs. Visiting the Daily Blog....Which do you prefer?

Twelve individuals took the time to respond to this question. The feedback was unanimous....stay with the Blog! Here are some of the comments.

We open with Tenafly Collection's honest response that brought a smile and a few laughs. I'm glad that someone else shares similar feelings.

Hi Gerry,

     I personally enjoy the blog since it's different than the continuous and distracting emails, snail mails, etc. that hardly ever get read anyway. I've donated tons of useless mail to the local landfill and deleted most "offerings" that I see online. In order to get off these mailings (how did I get on them in the first place?) it seems like one needs at least an Act of Congress. And your blog gives me something constructive and informative to do every morning.  At least my local trash collector is happy with all of my "offerings".

    Same goes for the sensationalistic and sadistic media; just ongoing garbage and useless crap. No wonder so many people are so angry - even a saint would be angry after watching the news for even a few seconds. The local weather, traffic report and baseball news is all I care to watch anymore.

My good friend, the Massachusetts Collection consignor had this to say. Don't worry, there will be no newsletter.

Hi Gerry:

I like the current way that the GFRC information and offerings are formatted. I find it interesting, informative and occasionally exciting......like those gold beans popping up the other evening.

But is it sustainable? Well.....you and your son know more about that than others. As long as it is fun........, but if Gerry needs to morph the format I would understand.

I like being engaged daily in this 'hobby' and your ramblings are enjoyed every single morning.

I find your format to be really down to earth and not just coins. The foliage and seasons matter.

Knowing where you will be at PAN might matter to the next major consignor. A prospective LSCC member may show up because there may be a club table at a show.

But occasionally....progress does require change, but please no newsletter.

Seal Beach also had a few comments to share and astutely captures the reasoning behind the Daily Blog

My comments.... your job is not to be ALL things to ALL customers.

I find it extremely frustrating when I ask someone a question as to why they do some specific thing, and their answer is... "because that's the way I've always done it".  Well these individuals are doing the same thing, basically telling you to do it just like "all the other dealers do it".  If this hobby is going to continue, we have to reach the younger generations..... and we are never going to do it by "doing it the same way it's always been done"!!

My guess is, that your customer base is made up of serious, passionate, long-term collectors.  What's appealling about GFRC is that it is NOT the same as everyone else.  It's daily, it's up to date, it's "real time" so to speak..and my guess is that the vast majority of your customers feel the exact same way...

DON'T CHANGE A THING!

And finally, the Newtown Collection's succinct response.

Hi Gerry,

I don’t have much time to opine, but I love the blog and dislike your competitors’ email blasts. Please don’t change your approach. 

 

Featured Coins of Day

Let's close today's Blog with some lovely late date With Legend Liberty Seated dimes that would brighten up your collection.

  

  

  

That is a wrap for today's Blog! Wishing everyone a great weekend and hopefully there might be consideration for a purchase during the next 48 hours. I will be back Sunday morning with a more mundane edition.... promise made!

 

 

 

October 20, 2017

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

More outstanding southern Maine weather is forecasted for today and the upcoming weekend. Instead of burning wood to take the chill off the Fortin homestead, a health walk, in shorts and T-shift occurred on Thursday. Upcoming high temperatures are forecasted for the mid 60s with the first chance of rain on Wednesday.

Thursday also brought a visit to my favorite Maine coin shop and a Chinese lunch at nearby restaurant. The drive took place with top down Miata and no jacket. That is how warm Maine weather remains moving into the end of October. Yes, new purchases were made including an 1908-D No Motto $20 Saint graded PCGS MS64 and a few toner Morgans. It was not a substantial purchase, but the break from sitting at the laptop and processing consignments was overdue and necessary.

Have Daily Blog readers taken the time to view the entire John Kelly press briefing on Thursday? If not, you might consider taking the 11 minutes to listen to this great American and pondering where we stand as a nation and the destructive forces of modern day media. I grow tired of reading violence in every other news headline. Words like "slam", "take down", "attacks", "rebukes", "confronts", "doubles down" and "threatens" are now commonplace. Yes, the media is playing the anger and fear cards on an every day basis for heighten drama and readership. Where is this ultimately heading? As John Kelly said in the press briefing, there is very little that is sacred anymore....

OK, back to coins and the reason that GFRC friends visit the Blog.

 

Mailing List vs. Visiting the Daily Blog....Which do you prefer?

Most numismatic dealers continue to send email notices of new purchases and acquisitions to their mailing list. If a single purchase is made, then you are on their mailing list and begin to receive notices for years until canceling.

GFRC is different.....My personal philosophy is that of respecting people's privacy and not sending out unwanted emails. We already receive too many emails on a day basis from all types of sources; good and bad. Sorting the wheat from the chaff takes time. I know that my time is precious and believe others have the same needs as I do. I receive many ongoing numismatic emails and will delete nearly all without opening. If I do open an email, it is for competitive benchmarking reasons only.

Therefore the Daily Blog was fabricated as the online vehicle for sharing new GFRC inventory on a daily basis. If collectors and friends are so inclined, they can visit at a frequency that suits their schedule. But the decision is made by the customer to engage and review the latest new offerings. Those that skip the Daily Blog for a few days may lose out on offerings that sell immediately. There are other serious collectors who check the Blog twice a day; evenings for Client Gallery previews and morning for regular reading.

Several individuals have ask to be notified of new purchases since they don't wish to or are unable to check the Daily Blog on a regular basis for new listings. They ask why GFRC does not send a traditional new purchase list via email. This is a serious matter for GFRC as issuing a new purchase and/or consignment newsletter is yet another task in an already busy and sometimes overwhelming schedule. Since many coins sell quickly, the new purchase list will be obsolete when issued.

What say you on this topic? Frankly, I can only support the Daily Blog (2.5+ hours per day to prepare) or newsletter mass mailings but not both......

 

GFRC Consignment News

Once again, I worked into the late evening hours to process more consignments. Following are two incremental plate coins from my Seated dime reference collection that need to go to good homes.

The Definitive Resource for Liberty Seated Dime Die Variety Collectors - Plate Coins

1885 F-104 Misplaced 8 in Denticles NGC MS 62                               1889-S F-101 Medium S NGC AU55       

      

 

I returned to the AuburnNY Accordian Collection to process the raw Liberty Seated dimes that are mostly Top 100 die varieties. Following are the first nine offerings with another seven to complete the lot. Already the 1854-O F-103 with nicely shattered obverse is on hold and going into a serious Top 100 Variety collection.

AuburnNY Accordian Collection Consignment - October 20, 2017

Liberty Seated Dimes - Mostly Top 100 Varieties

    

    

    

 

Seal Beach Collection Sends Another Consignment

An email arrived yesterday from out good friend Seal Beach announcing another consignment. Seal Beach was checking in to determine if I would be in the office for receipt of overnight FedEx shipment. Of course, I replied and always look forward to the latest divestments from this top GFRC consignor. Liberty Seated half dollar collectors should paid attention to the following new items and send a FRoR if seriously interested. Please note the prevalence of CAC approved Seated halves.

Seated 50c: 1847-O PCGS VF20; 1871 PCGS AU58 CAC; 1876 PCGS MS63 CAC; 1879 PCGS MS63 CAC Rattler Holder

 

Global Financial News

There is little to discuss this morning as gold continues to trend at $1282/oz and Seeking Alpha headlines are just extentions of yesterday's comments.

 

Featured Coins of Day

Draped Bust half dollars are very challenging to collect if the goal is acquiring choice original pieces for a long term holding. Many collectors approach this design and denomination on a type coin basis while a few individuals are building Overton die variety sets. I'm constantly seeking out better inventory for GFRC customers and so grateful to those individual who consign pieces. Following are the six Draped Bust halves current in GFRC inventory. I may just re-photography several of these pieces today in the hope of catching a collector's attention.

  

  

  

Yes, I'm done with another day's ramblings. More kitchen renovations start in a few hours and the weather is so nice that an extended health walk or time in the back wood lot will be in order.

Have a great day and please consider a numismatic purchase to close the week. For well known customers, orders will be immediately shipped ahead of check payment. If orders arrive before 10:00 am, then I can have into the mail before Doug, the mailman, arrives at noon for daily pick-up.

 

 

 

October 19, 2017

Greetings on roadside trash and recycling pick up day and welcome to yet another Daily Blog edition.

It will be another beautiful day in the southern Maine neighborhood as temperatures are again above average. Skies are cloudless and clear with light breeze to start the early morning hours.

I feel blessed as the weather has been ideal for GFRC photography. Image quality continues to be high and to my standards as we move through the second half of October. Yes, it is recognized that other dealers with indoor photography booths don't have a issue with the weather and never discuss this point. But then again, please compare GFRC images with other dealers to form your assessment of the value of natural sunlight in the coin photography process.

GFRC's Four Coin Shows in Four Weekends Event + Black Friday Sale

The Four Coin Shows in Four Weekend challenge is just one week away with PAN being the first event. Time between each coin show will be used to ship online orders and update the COIN database with coin show sales. Inventories must be resorted and then pulled for the subsequent show as each show will have a different inventory mix based on anticipated clientelle. Regular CAC submissions will be placed on hold until after returning from Shanghai.

Please check the Blog frequently as the PAN show approaches for a preview of the next Saw Mill Run Collection consignment. This consignment will contain a host of Liberty Seated quarters and halves with many being CAC approved. I'm anticpating strong demand among our community and will attempt to photograph this outstanding consignment between PAN and Mancheter NH shows. Consignments that arrive at Manchester NH and Whitman Baltimore will be held for processing in early December.

Yes, we will be conducting another Black Friday sale on November 24 - 26. Consignors might wish to consider which items to be discounted for the sale. I will be placing older inventory items, not sold at the various coin shows, into the sale.

The coming seven days is the calm before the storm and looking forward to taking a few days off to work in the back wood lot.

 

GFRC Consignment News

Wisconsin Collection Consignment

Consignments have been arriving on a daily basis resulting into my working into late evenings to complete image processing and Client Gallery postings in the Blog. The Wisconsin Collection consignment arrived on Tuesday and reached this edition last evening. This is a cool consignment with a broad range of offerings including quality Buffalo nickels, a special 1847-O Seated half and three Morgan dollars. One of the Morgan dollars (1885-CC NGC MS64 GSA Holder) has yet to be photographed as no technique is available for GSA holders.

Wisconsin Collection Consignment - October 19, 2017

    

    

    

 

Indiana Collection Consignment

Wednesday brought the arrival of another Liberty Seated dime consignment from the Indiana Collection. The shipment was immediately unpacked and photographed. Following are the contents to consider for potential FRoR.

Seated 5c: 1855-O NGC AU58 CAC old fatty holder and ex. Saw Mill Run Collection

Seated 10c: 1853-O F-103 PCGS AU55 with full strike; 1888-S MS62 Raw; 1890 F-105 PCGS MS64 one of finest for MPD variety; 1890-S F-105 NGC MS64 Small S mintmark and rare

AuburnNY Accordian Collection

This group of raw Top 100 Liberty Seated varieties will start appearing in tomorrow's Blog edition.

 

Global Financial News

We open today's financial news module with a Seeking Alpha headline as somber reminder that the 30th anniversary of the 1987 Black Monday stock market crash is today. I well remember the crash and had saved several copies of the New York Times covering the crash. Wonder what I did with those? Many younger investors have no memory of Black Friday or the March 2000 Dot-Com crash.

The 30th anniversary of the 1987 stock market crash, which saw the Dow lose 22.6% in one day, comes amid investor concerns of steep valuations and correction fears as U.S. stocks continue to score record highs. A repeat of "Black Monday" is unlikely to happen today due to modern trading technology, implementation of circuit breakers and the way investor funds are managed, yet cautious traders refuse to rule it out.

Brexit is a huge struggle for the British and Theresa May. Motto to this story is never surrender one's sovereignty to a higher power.....

The European Council is gathering for a two-day summit in Brussels, where Theresa May is expected to pitch her Brexit strategy to EU peers in another bid to unblock the recent impasse between the two sides. The prime minister will make an appeal ahead of the event, promising not to use "EU citizens living lawfully in the U.K. as bargaining chips" and allowing them "to stay."

The Catalonia independence effort is coming to a head with Spain.

The Catalonia crisis reached new heights today as Spain moved forward with the process of suspending governing powers of the area. Spanish stocks and bonds dropped on the news, while the euro climbed 0.3% to $1.1817, as Regional President Carles Puigdemont refused to drop his claim to independence. The government in Madrid will officially trigger Article 155 on Saturday.

And finally, the Chinese economy is the Little Engine That Could

China's economy grew at 6.8% in the third quarter year-on-year, slightly below the previous period but still above the government's full-year target of "around 6.5%." The figure will likely boost President Xi's effort to consolidate power at a quinquennial Communist party leadership transition, where he will seek to install loyalists in key positions. Shanghai -0.4% to 3,370.

 

Featured Coins of Day

Today's Featured Coins of the Day module brings attention to the Osprey Collection. Osprey is well known among GFRC clients for his United States gold offerings. But there is more including quality Capped Bust coinage as his second passion. Following are some early type pieces to consider including an outstanding 1807 B-1 Draped Bust quarter graded PCGS VF30 CAC.

  

  

  

So ends another Daily Blog edition. Trash and recyling pickup was early today and occurred while composing this edition.

Given the bright sunny conditions, I believe some brief time off is warranted to collect more firewood and taking a much needed break from numismatics. Have a great day and as always, please consider a GFRC purchase to help consignors rechannel their numismatic capital into new acquisitions. I will have my cellphone with me while working outdoors as answering questions and closing on sales is of importance.

 

 

October 18, 2017

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

Years ago, I could have never imagined the path that my "retirement" would take. Building a non traditional numismatic sales business is an ongoing evolution of ideas that enable a community. "Retirement" can bring challenges in staying connected with people; that is not the case with GFRC. Each day, there are many phone calls and emails all centered around a common passion....numismatics. As I've said before, this retirement job is without parallel in terms of enjoyment and relationship building. Then there is the ability to handle outstanding coins like the 1830 and 1854 half dimes that arrived on Monday and the quest for life long learning.

And you thought I would open today's Blog with comments about Maine weather, right?

Seth's Blog: Price vs. Cost

Today's Blog opens with a visit to Seth Godin's Blog for words of wisdom. This simple post concerning the price of an item, as compared to the long term cost, captured my attention. During a lifetime, we purchase many items and some come with substantial maintenance cost. Pets, for example, provide much friendship and pleasure, but come at a substantial long term cost to house, feed and maintain health. The initial price is tiny as compare to long term costs.

Then there are coins. One pays a purchase price to acquire an item that can provide long term satisfaction. The long term costs are mostly related to security and protecting the integrity of that coin and opportunity costs; doing something else with the same monies. The beauty with coins, is that when the costs become higher than the pleasure rendered, then it is time to divest.

Price vs. cost

Price is a simple number. How much money do I need to hand you to get this thing?

Cost is more relevant, more real and more complicated.

Cost is what I had to give up to get this. Cost is how much to feed it, take care of it, maintain it and troubleshoot it. Cost is my lack of focus and my cost of storage. Cost is the externalities, the effluent, the side effects.

Just about every time, cost matters more than price, and shopping for price is a trap.

 

GFRC New Purchases

I'm most pleased to be offering the following lot of quality early types for the GFRC community to consider. These two Gold CAC approved half dimes would sure look good in a 20 piece PCGS blue box collection. Both were undergraded by PCGS at the MS63 level. The 1830 half dime is already on hold and going to a home with many fine numismatic properties. The 1854 With Arrows half dime would be an outstanding selection for a type set and remains available.

1830 LM-13 PCGS MS63 Gold CAC and 1854 PCGS MS63 Gold CAC Half Dimes

  

 

Not all GFRC coins can have the elusive CAC Gold bean. Many CAC Green bean approved coins are also special acquisitions. Below are more new purchases with many having CAC approval. Don't you love the overall eye appeal, color consistency and quality in this lot? These are priced fairly and I look forward to your online orders in the upcoming days as these will be gone once being displayed in show cases at PAN, Manchester and Baltimore.

Other Quality New Purchases

    

    

  

 

GFRC Consignment News

Wisconsin Collection Consignment

It seems like new consignments are arriving on a daily basis as GFRC friends expedite their efforts to transfer coins prior to the Four Coin Show in Four Weekend event. Tuesday brought another package from the Wisconsin Collection consignor with 11 pieces. The consignment has something for everyone including customers in Shanghai. Most impressive is a run of CAC approved better date Buffalo nickels. Here are the contents with FRoR in order.

Copper 2c: 1865/1865 PCGS EF40

Buffalo 5c: 1913-S T1 PCGS MS63; 1913-S T2 PCGS AU-58 CAC rainbow toned; 1913-S T2 PCGS G-6 CAC four full digits in date; 1915-D PCGS MS-62 CAC; 1916-D PCGS MS63 CAC rainbow toned

Seated 10c: 1875-CC IW F-106a ANACS EF45 OWH

Seated 50c: 1847-O PCGS MS61 with eye appeal of a higher grade

Morgan $1: 1878 7TF Reverse 1879 PCGS MS63 blue rims; 1885-CC GSA NGC MS63 multi color reverse toning, original GSA box and holder; 1892-CC PCGS AU58 CAC mirrored obverse and reverse.

 

Global Financial News

Gold made a quick run above the $1300 level and has since declined back to $1282. Global financial news is quite positive this morning as I take pleasure in reading Seeking Alpha headlines rather than the "he said, she said" or "style points" drama that plays out in online media outlets. Equity markets continue to roar ahead to new record levels while ISIS is nearly defeated.

U.S.-backed forces have captured Islamic State's de facto capital of Raqqa, driving the group from a Syrian city that became synonymous with their reign of terror and was used as a center to stage attacks on the West. "Addressing the economic, political grievances of the Sunnis so that another ISIS doesn't come about will be as important as the military fight," said Bilal Saab, a senior fellow at the Middle East Institute.

Chinese President Xi Jinping opened a critical Communist Party Congress today with a pledge to build a "modern socialist country" that will remain open to the world. The nation will also push ahead with market-oriented reforms of its foreign exchange rate as well as its financial system, and let the market play a decisive role in the allocation of resources. The twice-a-decade meeting will run for a week until Oct. 24.

Besides the Dow hitting the 23,000 milestone on Tuesday, the healthcare sector was fired up after two U.S. senators reached a bipartisan agreement to shore up Obamacare for two years by reviving federal subsidies for health insurers. President Trump, during comments at the White House, suggested he could get behind the Alexander-Murray plan as a short-term solution.

 

Featured Coins of Day

The Watch Hill Collection consignor called on Tuesday and indicated it is time to cut prices on toner Morgan to stimulate sales. There will be sizable price reductions on his toner Morgans and I will re-position those items on the 30 day new product list for attention. Price reductions will be implemented by end of day. If you are seriously interested, then please call or email me so secure the new prices in advance of the price list postings. These are the six CAC approved pieces including one GOLD CAC!

Frankly, someone should just step up and buy the whole lot as a foundation for an amazing CAC approved Morgan toner date set. You can't go wrong with these six offerings.

  

  

  

So ends another Blog edition. Maine weather is once again picture perfect and it will be difficult to spend the entire day in the office working on coins. Thank you for the ongoing orders as checks continue to arrive enabling a large number of daily shipments. Doug, the mailman, is impressed with the business activity.

Ok, time for a shower and then immediately into the packing and shipping department. Have a great day.

 

 

 

October 17, 2017

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

It is difficult to write the Blog with darkness outside the GFRC window at 6:30 am. Slowly, the sunrise occurs revealing crystal blue skies on a cold crisp morning. Birches are now yellow and the burning bushes are a bright red and dropping leaves. The temperature is only 35F and cool air is felt through the office window. But let's not worry as another stretch of warm weather is predicted for the upcoming weekend.

The GFRC office is a beehive of activity as consignments, new purchases and payment checks pour in. After a quiet start in early October, sales have ramped nicely and keeping the staff on their toes. More consignments are expected today and Wednesday as individuals attempt to catch the remaining opportunity window before PAN which arrives later next week.

Whitman Baltimore is Coming Soon!

I spoke with Michelle at Whitman Publishing yesterday and all is on track for Gerry Fortin Rare Coins and W. David Perkins Numismatics at the Baltimore show. We will once again be located at Booth 818 which is surrounded by Heritage and Stack's Bowers. The GFRC inventory presentation will be massive with Len Augsburger, Dan White and Diane sharing time behind the tables. This outstanding support team will allow me to focus more on wholesale buying and insourcing more consignments at the show. Already there is one consignment appointment on the books.

Whitman Baltimore Show - November 9 - 12, 2017

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

 

LSCC Premier Membership Medal - Coming Soon!

Membership in the Liberty Seated Collectors Club is a special event for many passionate collectors addicted to Liberty Seated coinage. To celebrate and capture that passion, along with documenting the LSCC membership legacy, the LSCC Leadership Team is launching a new medal program to be struck at the Moonlight MInt. We are excited to announce a unique opportunity to purchase a customized Premier LSCC Membership medal featuring club member's name and LSCC membership number.  

Well known graphic artist, Jim Macor, has prepared the following medal design that captures the primary devices employed across many of the Liberty Seated denominations. Just take a close look at the reverse design.... oak and maples leaves from the half dime and dime cereal wreaths, olive branch and single arrow from the quarter, half dollar and dollars reverse eagle designs. And yes, the important 13 stars. Each medal will be engraved with club members name and LSCC membership number in old script characters.

Regular medals will be offered in 1 oz proof silver. A limited production of 25 sets (more if response is higher) of four medals consisting of a one ounce 0.999 gold, two one ounce silvers and a one ounce copper will also be struck. The set medals will all be made in proof finish and each engraved with name and membership number. Two silver are included to illustrate the obverse and reverse designs. Presentation will be in a specially designed Capitol holder.

Full Premier LSCC Membership Medal details will be found in the November Gobrecht Issue along with pricing and ordering information.

Premier LSCC Membership Medal Design

 

GFRC Consignment News

Gerry Fortin Reference Collection Consignment

The recent Gerry Fortin Reference Set consignment has been well received with many pieces sold in a matter of a few days. Proceeds will be set aside for upgrading my primary date and mintmark set when the right opportunity appears. Don't worry as there are 100s more quality Seated dimes (many are web-book plate coins) to be offered in the upcoming months.

Half Way There Collection Consignment

The past two days brought considerable attention to the Half Way There Collection consignment. The entire consignment contents are illustrated below and will be reaching the price lists during evening hours. There are several First Right of Refusals (FRoR) on the books and those individuals can step forward with a purchase decision once these Seated halves are on the price list.

This consignment is a treasure of scarce and rare die varieties including an affordable 1844-O WB-22 Double Date PCGS G04, 1875-S WB-1 Medium Small S Mintmark PCGS AU58, 1875-S WB-19 Micro S Mintmark PCGS FR02 and 1876-S Closed Bud Type 2 Reverse with Very Small S PCGS G04. The 1851, 1873-CC and 1876-S were submitted to CAC for review on Monday.

Half Way There Collection Consignment - October 17, 2017

    

    

    

    

    

 

Global Financial News

Spot gold is back below the important $1300 level and is currently quoted at $1291. The North Koreans appear to be the only party in panic mode due to a massive United States and S. Korea naval drill events on both sides of the Korean peninsula. I'm sure that the Beijing Central Government is also acutely aware of the naval power lurking beyond its borders.

The situation on the Korean Peninsula "has reached the touch-and-go point and a nuclear war may break out any moment," according to North Korea's deputy U.N. ambassador. The warning from Kim In Ryong, which builds on previous escalating threats, comes as the U.S. and South Korea begin one of the largest joint naval drills in the region.

Trade negotiations dominate Seeking Alpha headlines this morning. NAFTA discussions are progressing with Mexico and Canada being in a difficult position for automobile manufacturing. Brexit talks could be ongoing as the European Union has the high ground and can continue to apply leverage over Great Britian. The separatist movement in Catalonia is also a factor to be consider.

Trade ministers from the U.S., Canada and Mexico wrap up a contentious round of NAFTA trade talks today, issuing statements at a joint event at 3 p.m. ET and later briefing the media. The hardline demands from the Trump administration so far include forcing renegotiations every five years, reserving the lion's share of automotive manufacturing for the U.S. and making it easier to pursue import barriers.

Brexit talks between the U.K. and Brussels aren't deadlocked, according to Chancellor of the Exchequer Philip Hammond, who stated it was clumsy to call EU negotiators "the enemy" during an interview last Friday. Despite the confidence, the two sides appeared to reach an impasse recently over unresolved issues, like the so-called "divorce bill," the North Irish border and EU citizens' rights.

 

Featured Coins of Day

In the past two Daily Blog editions, I featured consigned items from the Saw Mill Run and Indiana Collections. Today, let shift attention to quality offerings from the Burchs Creek Collection. Burchs Creek offerings are mostly housed in ANACS old white holders and accurately graded. Following are remaining Capped Bust halves that are searching for a loving home.

  

  

  

Ok, a bright sunny day is on the other side of today's completed Blog edition. We went from pitch black to bright sunny conditions in just 1.5 hours. Time for a quick shower and then spending the morning in the packing and shipping department. I may take a break, this afternoon, and spend time cutting more firewood.

Thank you for being loyal Daily Blog followers and stopping by each day. I will be back tomorrow with more ramblings. Please consider a purchase as consignors strive to convert coins to capital for new acquisitions.