Gerry's Daily Blog

February 18, 2018

A Preview


GFRC New Inventory Arrivals

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






February 17, 2018

Woodlands Collection Consignment Nearly a Sellout

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

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

Quick or smart?

Your smartphone makes you quick, not smart.

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

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

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

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

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


Woodlands Collection Consignment is Nearly a Sellout!

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

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


Newtown Collection Consignment is Next!

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

Newtown Collection Consignment Part 1 - February 17, 2018

Important Liberty Seated Quarter Dates

  1871-CC PCGS F12                                                                 1872-S PCGS VF25



More GFRC Consignments on the Way!

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

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


An Important GFRC New Purchase

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

GFRC New Purchase

1850-O F-107 PCGS EF45 CAC Dime


Three More LSCC New Members This Week

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


Daily Featured Coins

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

Morgn Toners with Lots of Eye Appeal




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

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

Have a great weekend!




February 16, 2018

Amazing Woodland Liberty Seated Dimes Arrive!

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

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

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

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


Sarasota Coin Show Arrives February 23-25, 2018

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


GFRC Consignment News

Woodlands Collection Consignment

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

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

Woodlands Collection Consignment - February 16, 2018





Newtown Collection Consignment

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


Please Consign with GFRC for Peace of Mind

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

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

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


Global Financial News

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

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

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

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

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

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

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


Daily Featured Coins

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

GFRC $20 Gold Offerings




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




February 15, 2018

Chinese Lunar New Year Eve Arrives!

Greetings and welcome to Gerry's Daily Blog as Asia celebrates the arrival of the Year of the Dog.

Living in China and experiencing Lunar New Year eve will always be one of the highlights of my semiconductor career. The largest mass migration on the planet and incredible fireworks celebrations by common people are among some of the memories. Being guests of friends and their families during the traditional new year eve dinner was also quite special. Many Chinese people grow up with little food and possessions during the post Cultural Revolution period and this holiday is an opportunity to splurge and celebrate the progress of Chinese prosperity. The family unit still remains the key element of Chinese society with multiple generations living together. Individuals travel long distance to return to their hometowns reassembling those family units.

Since China is on a single time zone and 13 hours ahead of EST, when this Blog edition is published, families will be wrapping up their dinners and beginning their firework celebrations that culminate at midnight. Writing the Blog is bringing back those wonderful memories.

Back home in Florida, Wednesday brought a non stop busy day with Auburn Lake condo association board work being the priority. Ongoing mold growth, on sidewalks and parking space, was visually mapped and published on the website for today's meeting with irrigation company and determining if directional sprinklers can mitigate portions of this issue. Removing mold growth with aggressive power washing increases concrete porosity and enables more mold growth. Then there was an afternoon meeting with potential contractor for providing turnkey pool and spa management service. Today, the pool and spa management is fragmented and ineffective with simple issues taking weeks to resolve.


GFRC Sells 1865 F-102c Seated Dime Proof Strike

Yes, it took place last evening. The GFRC friend who is enabling special research on the origins of the 1865 F-102c "proof strike" made a command decision to purchase this rarity. My cherished example has found a a perfect new home; one that will take the research to a new level of discovery and theories. I could not be more pleased as LSCC President and look forward to a report to be published in a future Gobrecht Journal edition.


GFRC Consignment News

Port Matilda Collection Consignment

It did not take long. Idle consignment receipts moved to a trickle and then quickly expanded into a wave of new offerings. Below is the small Port Matilda Collection consignment that will reach the price list today. The 1872 and 1886 Indian cents are choice while the 1818 B-2 Capped Bust quarter is graded PCGS VF25 and approved by CAC.

Port Matilda Collection Consignment - February 15, 2018



Woodlands Collection Consignment

Yesterday's arrival of the Woodlands Collection consignment was pure joy to view. Yes, a special lot of high end Liberty Seated dimes that must find homes in the top collections being constructed. Quality and eye appeal are exceptional while grading is accurate to conservative against today's standards. Following are the new offerings from the Woodlands Collection. All have been photographed and I hope to have a client gallery available during the evening hours.

Seated 10c: 1838 PCGS MS65 CAC frosty cartwheel luster and belongs in the finest of sets; 1840 No Drapery PCGS MS64 CAC golden cartwheel luster and a JUST BUY IT NOW recommendation; 1844 PCGS AU50 OGH gem original; 1846 PCGS AU50 CAC crusty choice original and perfect at the grade level; 1865 PCGS MS65 cream colored frosty luster; 1868 PCGS MS64 a twin to the 1865 specimen in color and luster, ex Richmond Collection; 1887 PCGS MS65 CAC head and shoulders above specimens on market with sea green satiny cartwheel luster; 1872 PCGS MS65 CAC important opportunity as few are known at the MS66 grade level; 1887-S PCGS MS64+ CAC so choice and will be a JUST BUY IT NOW recommendation

Newtown Collection Consignment

A USPS Express delivery will arrive today from the Newtown Collection. This is by far, his most comprehensive consignment to date as duplicates are being actively divested towards upgrading his Liberty Seated dime and half dollar sets. Blog readers can track the Newtown Collection Seated dime and Seated half dollar sets on the Open Set Registry. Following are the contents of today's forthcoming consignment. There are already two FRoR on the 1871-CC Seated quarter.

Seated 10c: 1838-O PCGS VF30 CAC; 1839-O No Drapery PCGS AU-55; 1889 PCGS MS 65 CAC; 1889-S NGC MS-63

Seated 25c: 1871-CC PCGS F-12; 1872-S PCGS VF-25

Seated 50c: 1844 PCGS AU55 CAC; 1850-O PCGS AU-55; 1851-O PCGS AU-55; 1852 PCGS AU-53; 1855-O PCGS MS-65; 1855-O PCGS MS-62; 1855-O PCGS AU55 CAC; 1856-S PCGS XF-45; 1857-O PCGS AU-55; 1870-CC PCGS F-15; 1876 PCGS AU-50; 1876-S PCGS AU-50; 1877-S PCGS AU-55; 1879 PCGS MS-62


Global Financial News

Spot gold increased during the overnight hours to lead our morning commodity report. Crude oil increased to nearly $61/bbl while gold is now quoting at $1355/oz. Bitcoin also recovered some recently lost ground to $9567. Along with the commodity increases, the 10 year Treasury bond yield is now 2.93% and approaching the key 3% threshold.

Is gold's upward movement a function of pending inflation concerns?

U.S. stock index futures are pointing to a solid open, with DJIA futures up 262 points, or 1.1% to 25,124, brushing off increases to U.S. inflation that put fears in the market last week. While investors seem to be pointing to robust fundamentals, some analysts caution that rising consumer prices could produce more volatility this year. Government bond yields are still continuing their march higher, with the 10-year Treasury note yield edging up to 2.93%.

If President Trump's federal fuel tax becomes reality, incremental pricing inflation will be at hand due to increasing costs for transporting goods.

President Trump is calling for a $0.25 hike to the federal gas tax in order to pay for the White House infrastructure plan that will upgrade U.S. roads, bridges and other public works. The government has not raised the gas tax since 1993, under the Clinton administration. The current federal levy is 18.4 cents a gallon on retail gasoline and 24.4 cents for a gallon of diesel.

North Korea has been behaving during the winter Olympics and mounting a charm offensive. Shinzo Abe and Trump are not impressed.

In a 75-minute telephone conversation, Shinzo Abe and President Trump agreed that there will be "no meaningful dialogue" with North Korea unless the country agrees to "complete, verifiable and irreversible denuclearization." Japan also reported another suspected illegal ship-to-ship transfer involving a U.N. blacklisted North Korean vessel and a Belize-registered tanker "Wan Heng 11."


Daily Featured Coins

Inflation worries and upward pressure on spot gold prices should increase demand for larger denomination United States gold coins. How can you go wrong by building a date set of $10 Liberty and/or Indian gold pieces at current market levels.

GFRC $10 Gold Offerings








February 14, 2018

LSCC Leadership Team at Work!

Welcome to the Blog on Valentines Day 2018 and thank you for stopping by.

Yes, it is a busy holiday period throughout the planet. The entire world celebrates Valentines Day while across the Pacific Ocean, Asia is in full scale preparations for Chinese Lunar New Year. The year of the Dog arrives on February 16. More will be discussed on this topic in tomorrow's Blog.


LSCC Leadership Team at Work

Closer to home, the Liberty Seated Collectors Club held its monthly Leadership Team meeting last evening. Gobrecht Journal issue #131 is in the proof printing stage and will be ready to mail the first week of March. Editor Bill Bugert commented that #131 will be a great issue. Knowing how humble Bill is, if he believes the #131 end product is great, then well received and spectacular may be the operative words since the issue features new cover art by Jim Macor and two major articles on Liberty Seated dimes. Gerry will begin preparing those coverted LSCC membership card today for inclusion with the Journal mailing. The Premier LSCC Membership medal program is moving forward and we expect to showcase trial strikes along with the prototype gold, silver and copper four piece set Capital Plastic holder at the Whitman Baltimore show. A call for LSCC 2018 Hall of Fame nominations will be made in the upcoming March E-Gobrecht with induction at the Philadelphia ANA. And finally, a potential SeatedFest II convention at the 2019 Orlando FUN show is being explored. Let's remember that the LSCC is an all volunteer organization committed to the numismatic hobby and spreading our passion for Liberty Seated coinage.

If you are not an LSCC member, then please consider spending $25 to become an immediate member. LSCC members also receive a special privilege; direct CAC submissions via collector account. Believe me, the $25 membership cost will be the best monies ever spent. Please email me if interested and I will place you in direct contact with Dennis Fortier and Dale Miller for payment coordination.


Special Research for 1865 F-102c Seated Dime Proof Strike Underway

In yesterday's Blog, I posted images of the 1865 F-102c PCGS PR63 Liberty Seated dime that is the web-book plate and now for sale via GFRC price list. It was mentioned that the origins of this piece remain an enigma and much more research is needed. The heavily rusted obverse and lack of strong mirrors suggest the piece was struck outside of normal proof production for that year and made be a pattern strike. Pattern strike employ medal turn die alignment, which this piece has. Only four examples have been document to date which also suggest a pattern strike.

A Daily Blog friend and GFRC customer has become intrigue by this issue and the lack of information for its origin. He has enlisted the help of his daughter (engineer at MIT Lincoln Lab) and son (engineer at Washington Navy Yard) to begin analyzing the surface conditions of the 1865 F-102 (regular proof strikes) and this piece (F-102c) to determining potential origins. I will probably ship this piece off for study as their findings would make for a great Gobrecht Journal article.

1865 F-102c - Regular Proof Strike or Special Pattern Strike?


GFRC Consignment News

I'm quite pleased to report that a new consignment wave is approaching shore! The Port Matilda Collection lot has arrived and a high grade CAC approved Seated dime lot, Woodlands Collection, will be delivered this afternoon. Tomorrow brings a 20 piece lot from the Tenafly Collection and discussions are underway for an important 20 piece lot from the Newtown Collection with highlights being 1871-CC (PCGS F12) and 1872-S (PCGS VF25) Seated quarters and 1850-O, 1851-O and 1852 Seated halves (all PCGS AU55).

Who else will be next to join this wave of new offerings?


Special GFRC New Purchase

As time move on with the GFRC business, I've taken a special liking to Capped Bust half dimes and continue to improve my inventory offerings. I'm pleased to be offering this gorgeous 1831 LM-1 example today. Talk about 100% original with stunning frosty surfaces and cartwheel luster. This piece would be an important addition to an early type set or even a mint state Capped Bust half dime date set.

1831 LM-1 PCGS MS65 CAC - Capped Bust Half Dime

Stunning Frosty Cartwheel Luster - Offered at $3150


Global Financial News

Let's open this daily module with a quick check of commodity prices which are flat to Tuesday. Crude oil is holding the $59/bbl while spot gold inched up slightly to $1333. Bitcoin also moved up slightly to $8885 and the United States 10 year Treasury yield is again quoted at 2.83%

Following are several Seeking Alpha headlines that may be of interest. We open with inflation watch and today's CPI data report. There is obvious inflation in the numismatic industry as USPS shipping charges continue to move up along with PCGS and CAC submission prices.

The inflation boogeyman may be in town today as investors focus on CPI data that could upset the market's fragile recovery, or clear the way for additional gains. U.S. consumer prices rose 2.1% Y/Y in December and are forecast to stay around the same pace this month. "If we get a hot CPI print it will insert additional uncertainty, but if we get a quiet, below-consensus print, you may see yields down and equities rally," said Jason Ware, Chief Investment Officer at Albion Financial Group.

American houshold debt is once again on the rise as consumers are spending without increases in disposable income and shrinking savings rates.

The American consumer is loading up. Total household debt rose by $193B to an all-time high of $13.15T at year-end 2017 from the previous quarter, according to the Federal Reserve Bank of New York's Center for Microeconomic Data. It was the fifth consecutive year of annual household debt growth with increases in the mortgage, student, auto and credit card categories.

Europe is seeing robust economic growth.....

The eurozone economy maintained its robust growth pace at the end of last year, setting the stage for another solid performance in 2018 that may influence ECB policymakers into winding down unprecedented stimulus. Gross domestic product increased at an annualized 2.7% rate in Q4, resulting in a GDP expansion of 2.5% over the whole 2017.


Daily Featured Coins

Each Daily Blog edition wraps up with this Daily Featured Coins module. How is the topic or theme selection each day, you might ask? After writing for 1.5 hours, this section is just steps from the finish line and the chance to get on with my regular day. The themes are completely spontaneous and capture spur of the moment creativity. When there are no obvious themes, my default is the CAC approved price list and locating inventory with strong eye appeal. This is the case today as there is much on my plate after publishing this edition.

Quality CAC Approved $2.5 United States Gold




Relief....another Daily Blog edition is completed and time for a quick shower, following by packing and shipping and then Auburn Lakes condo association project work starting at 10:00am.

Happy Valentines Day and thank you for checking in.



February 13, 2018

Premier LSCC Membership Medal Dies are Ready!

Greetings and welcome to another edition of the Daily Blog.

The past 24 hours flew by. Quick morning shipping opened the day followed by an effective condo board meeting. The afternoon brought two visits by GFRC clients and more image processing. The daily pre dinner scotch break was delayed until 6:30pm with the health walk happening well after dinner. Is it already Tuesday and time to write another Blog edition? Yes, and here I am at the keyboard with that hot cup of coffee.

On behalf of the Premier LSCC Membership medal project team, I'm pleased to announce that dies have been engraved at the Moonlight Mint with alloy and polishing wrapping up by mid week. A brainstorming idea, first explored on a digital canvas, is now a physical reality. Trial strikes are the next step along with securing the prototype Capital Plastic holder to ensure that physical dimensions are accurate. The LSCC goal of displaying a complete Premier LSCC Membership medal set at the Whitman Baltimore show appears attainable.

As a reminder to LSCC club members who have yet to order their Premier Membership medals, following are the Dan Carr "sculpts". Just imagine your LSCC membership number and name uniquely engraved on a four piece gold, silver and copper proof finish medal set that renders a legacy statement about your collecting ambitions and love for the numismatic hobby. The silver proof medal could be a pocket piece to accompany you at major shows as a badge of honor. Yes, being an LSCC member is indeed special and noteworthy....



GFRC New Offerings

Between a United States gold new purchase and some cupboard cleaning, new offering were located to maintain a fresh look to the 30 day price list.

We open with the 1865 F-102c 180 degree rotated reverse proof strike that is a significant Liberty Seated coinage rarity. This offering is the web-book plate coin and has served me well. My gut numismatic feel is that the issue is not a regular proof strike due to the die finish being atypical for that time period but rather a pattern strike. How to prove this belief is a question left to the next curator and potential researcher.

1865 F-102c PCGS PR63 OGH - Liberty Seated Dime Rarity

180 Degrees Rotated Reverse on Proof Strike


The 1853 $1 gold and 1913 $2.5 Indian quarter eagle are new purchases from a local Florida collector. These pieces have been off the market for years and housed in PCGS OGH and NGC Fatty holders. Quality is superb and both should be instant CAC approval if that is the buyer's desired goal. The balance are more Liberty Seated dime web-book plate coins that had been hiding in a cupboard.....

GFRC New Purchases and Gerry Fortin Consignments




GFRC Consignment News - Tip of the Iceberg

The tip of the new consignment iceberg has appeared! The first, of many forthcoming consignments, is from the Port Matilda Collection and arrived on Monday. The Tenafly Collection shipped a 20 piece lot on Tuesday and the Woodland Collection is back with a high grade Liberty Seated dime CAC consignment that ships today. Other consignments are being considered and will be announced once moving into the transfer loop.


Global Financial News

Seeking Alpha headlines are relatively quiet with little worth sharing. Looking at commodities, crude oil continues to slide and is quoting at $59/bbl while spot gold has found its legs and move up to $1331. Bitcome remains flat at $8541 and the United States 10 year Treasury is at 2.83% Futures for global equity markets are positive in Asia and down in Europe and United States.

United States oil production is growing and placing pricing pressure on OPEC and Russia.

"U.S. producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth," the IEA said in its latest monthly report. That could soon spark another dramatic change of policy from leading oil producers, currently sitting on "shut-in production capacity and facing a renewed challenge to their market share."


Daily Featured Coins

One of the interesting phenonemons in the coin business is the respect given to ANACS old white holder certified coins. Selling coins encased in the modern ANACS blue and gold labeled holders is difficult to nearly impossible. But the old white holders remain popular with collectors and crack out dealers. GFRC has nearly 40 examples of quality coins in ANACS old white holders with the following pieces being recommended for consideration on a Tuesday morning.

ANACS Old White Holder Offerings




Another Daily Blog is completed and time to move on with the day's activities. Preparing shipments is next on the agenda followed by a health walk and another local client meeting to secure coins for a CAC submission. Then there is an LSCC Leadership Team meeting tonight at 9:00pm.

Will Dan and Gerry walk the Collectorama bourse floor in Lakeland Florida on Friday? At this point, I'm not sure since a large for purchase deal arrived late last week. More on this new lot in Wednesday's Blog.

Have a great day and remember that Wednesday is Valentine's Day.




February 12, 2018

Bits and Pieces to Start a New Week!

Greetings as the middle of February is nearly upon us. Thank you for stopping by at the Blog.

Today's Blog edition will be mostly bits and pieces of content. There are a fair number of orders to package and ship followed by an Auburn Lakes Condo Association board meeting. Board work is one of those volunteer activities that is key to maintaining the safety of residents and ensuring the ongoing stability of property values through cost effective maintenance and beautification projects. The board is facing several important issues including foreclosing on a unit that decided, a year ago, to not pay association dues and contractor research towards replacing the asphault roofs on 20 buildings during 2020.

Feedback continued to arrive concerning the Abandon the Ego, Sell the Coin! commentary. Since GFRC news is on the thin side, let open the Blog with some of those inputs.

Feedback: Abandon The Ego, Sell the Coin!

Hello Gerry,
I could not agree more with the points you made in today's blog "Is Price Paid Important When Selling Collector Coins?"

Recalling a few coins I have sold, I still remember that sinking feeling in my stomach when that great coin I was sure would be loved by one and all was declared "unclean unclean!" by dealers and other collectors. What was wrong? Well there was hairlining under that nice looking tone, or the tone didn't look quite right, or the coin was "white" and so therefore it was obviously dipped, or "did you notice the penknife marks paralleling the eagle's wing?", or any one of a hundred other things. Then there were those I simply paid too much for.

What to do? I manned up and sold them anyway, sometimes what one buyer did not like was no big deal to another, but on many I simply took my losses and turned that money back into other and better coins. The loss was the cost of education. Call me crazy but for me even that is part of the fun of numismatics.

And, those coins I purchased from the proceeds of those vilified coins? Many of them are now favorites and when I have shown them to fellow collectors there are always positive comments. I will do well by them. Their predecessors? Forgotten.

I debated responding to your Saturday blog but, decided to. I agree it's tough to sell coins for less than you paid for it. Been there done that! However, I also realize that the market goes up and down. What's hot today will not be hot tomorrow. I sold coins and have taken some losses in the hundreds of dollars. But, also sometimes it could be what I call "coins of shame!" I think every collector has some of those. Most won't admit they bought coins they should never bought at the price they paid or the condition the coin was in. Mine is a 1921 Peace dollar that I bought about 35 years ago. Not long after buying it, I came to realize the coin was played with. IT WAS WHIZZED!!! I still have the coin in a Capital holder to remind me of being stupid. Luckily I only paid $100.00 for it but it still bugs me. Bottom line, sometimes it hurts to sell coins at a loss but once done, move on.

Gerry, excellent thoughts –
I think somewhat differently from you. – here are my thoughts – if you consider your coins as an investment, you buy when you believe coin will increase in value and sell when you maximized your gain. As a collector, you buy a coin to build a collection typically without investment considerations. When selling, a collector typical sells upon death, debt or divorce. I would add another time to sell, when you wish to pursue another collection and don’t want to allocate more net worth going to coins. When its time to sell, move on, enjoy the collection that you built and sell. Remove the collectors emotions and let the investor emotions take over.Losses on coins are like losses on stock - remove the emotions and use the money to buy something else that will create enjoyment like the collection that you are selling or invest in something that will increase in value. Time to move on.

Morning Gerry,
I wanted to give you some feedback on today’s blog.
You are absolutely right on a lot of points you made on consigning a coin and setting a price for that coin. You show (from first hand experience) tremendous insight into selling a coin and the reasons in the first place for buying a coin. I think it is an important lesson for many and likely a rude awakening for others. Although I have not sold many coins in my numismatic decades, I appreciate why I purchased a coin in the first place and the reason for departing with it. You simply pointed out a lot of good sense and I hope I can follow your advice when the time comes.

Hi Gerry:
Your blog today was on point. If anyone has coins, stocks, etc. that's not working out, they need to sell, salvage what they can, and move on. Then move into something that is profitable.

Hi Gerry,
Just back from the Charlotte show and reading your blog. It's gotta be one of the best ones yet! Perfect take on the Olympics "today" and dismissing one's Ego when selling coins. Very well written....thanks for summarizing things so well.


GFRC Sales Archives Update

Along with GFRC clients, I'm also becoming a significant user of the Sales Archives for pricing coins and determing purchase prices. One of the annoying issues was corrected during the over night hours by Matt. Previously, when opening a high resolution image in the Archives, the only way to close the image was with the Back arrow. Hitting the Back arrow brought the user back to the search screen. Now the high resolution images will open as a separare browser tab and can be closed without disturbing your location in the Sales Archives search criteria.

Since becoming a daily Sales Archives user, the lack of images for coins sold back in the 2014 - 2015 timeframe is bothersome. To that end, I am slowly adding those images and linking inside the COIN database. This is a slow and tedious effort that will take six months or more to complete. But like all else about GFRC, slow persistent progress is made each day towards an end goal. Over the next few months, clients will see a growing number of archive listings with supporting images.


GFRC Consignment News

New consignments are on the way as GFRC friends are digging into their bank boxes and deciding to part with coins that are no longer core to their collecting objectives. The wave should start arriving by end of this week and the support is sincerely appreciated. In the meantime, I will be preparing those highly anticipated 2018 LSCC membership cards that will go out with the March Gobrecht Journal mailing.

Dan White (Osprey Collection) visited the GFRC office on Saturday and dropped off a significant United States gold consignment. This 1850 $20 double eagle is solidly original and is yet another piece that Dan repatriated from his European travels. We have priced this first year strike competitively against CoinFacts auction records. No offers will be entertained as the pricing is fair.

1850 $20 Double Eagle - PCGS AU53

First Year of Issue - Competitively Priced at $4600


Given the gap in major consignments, I took the opportunity to load more offerings from the Gansu Collection. The Gansu Collection is United States coins being repatriated as the Chinese collector has decided to move on to 1907 and 1908 No Motto $10 and $20 U.S. gold as a long term investment. The following coins were hand selected by Gerry Fortin and sold to the consignor, in Shanghai Yunzhou market, during the 2011-2012 timeframe. There is also a raw Walking Liberty half dollar short set that will be reaching the price list soon. Gansu has instructed that his coins are to be sold and offers will be accepted.

Gansu Collection Consignment - February 11, 2018

Low Price Coins Being Repatriated to U.S.




Sarasota Coin Show - February 23-25, 2017

It is difficult to believe that the Sarasota Coin Show is only 10 days away! GFRC will have three tables and 10 cases of inventory at this show. If you've been considering a GFRC purchase and wish to see coins in hand, then the Sarasota show is the ideal venue. Nearly 900 coins will be on display and I hope to return back to Venice with a smaller number. Dan White will be table assistant and manning the United States gold department.


Global Financial News

Seeking Alpha headlines are a bit light as we start the week. Looking first at commodity and long bond prices, crude oil is resting at $60/bbl while spot gold is up slightly at $1322/oz. Bitcoin is holding at $8651. The 10 year Treasury interest rate, continues to inch up to the 3% mark. It is currently quoted at 2.88%.

After a substantial tax cut and deficit spending budget agreement, ambitions for renewing United States infrastructure must be tempered.

The White House will roll out a long-awaited infrastructure plan today, which already faces hurdles in Congress because it doesn't offer as much new federal funding as Democrats want, or directly address how to pay for the effort. President Trump will propose spending $200B over 10 years, mostly in the form of grants designed to encourage states and cities to raise their own money for infrastructure projects, hoping to spark $1.5T in new investment.

Finally, the threat of lawsuits is reining in Purdue Pharma's efforts to expand the opiod epidemic for profit. I clearly remember having a minor gum graft done two years ago and was offered an opiod perscription for the "pain". Really? Advils worked just fine.

OxyContin maker Purdue Pharma is stopping to promote the drug and other opioids to doctors amid a series of state and municipal lawsuits that blame the company for contributing to the opioid epidemic. It will also cut its U.S. sales force by more than 50%, to about 200 people, while remaining representatives "will no longer be visiting offices to engage in discussions about opioid products."

This one falls in the its about time category......If SpaceX can launch a Tesla towards the universe on a low cost budget, then why not let private industry take over the space station?

Space station privatization? The White House plans to stop funding the ISS after 2024 and is working on a transition plan that could turn the station over to the private sector, The Washington Post reports. NASA already subcontracts certain ISS support operations, such as supply flights carried out by SpaceX and Orbital ATK, while Boeing operates the station for NASA, which costs the agency $3B-$4B per year.


Daily Featured Coins

In anticipation of an early March visit to Shanghai, the Gansu Collection consignor would like to sell the balance of his coins towards new GFRC United States gold purchases. Following are more raw pieces on current price list. Any close to reasonable offer will be accepted.

Gansu Collection Consignment - Please Make Offers




Wow, this has turned out to be a longer edition that first anticipated. Thank you for visiting with me on a Monday morning. Time for quick shower, then packaging up coins sold during the weekend, followed by the Auburn Lakes Condo board meeting.

Wishing everyone a great week and please consider a new GFRC consignment or a numismatic purchase.




February 11, 2018

Ignore Sunk Clowns!

Greetings again and welcome to Gerry's Daily Blog.

It is quite early on a Sunday morning and feeling relaxed with a hot cup of coffee. What can I possibility write about this morning is the never ending question before another Blog edition is composed. There are creative days when the ideas magically pour out and then there are times when a crowbar is necessary.

Saturday's Blog entitled Abandon the Ego, Sell the Coin! received much positive feedback throughout the day. Seasoned collectors well understood the point being made and applauded as they probably knew someone who has yet to reach that level of comfort with taking a loss on a coin. To continue down that path, let's read the words of Seth Godin on the same theme. Hopefully, his perspective will further convince all of us, with purchasing mistakes or whatever, to move on and focus on what is next or possible in our numismatic hobby. The same philosophy of quickly setting aside problematic events or a spat of bad luck can be applied to life as a whole.

Ignore sunk clowns

Yes there was supposed to be a clown at your birthday party. No, he didn’t show up. That’s a bummer.

But! But your friends are all here, and the sun is shining and you’ve got cake and a game of pin the tail on the donkey ready to go.

The question is: how long should you mourn the loss of the clown? How much more of your party are you ready to sacrifice?

The same question confronts the pro golfer who three-putted on the third hole.

Or the accountant who forgot an obvious deduction, one that can’t be recovered.

Or the salesperson who missed a key meeting, or the speaker who got let down because the tech crew screwed up her first three slides.

If it doesn’t help, why bathe in it?

When we can see these glitches as clowns, as temporary glitches that are unrelated to the cosmic harmony of the universe or even the next thing that’s going to happen to us, they’re easier to compartmentalize.

That happened.

Okay, now what?


GFRC Sells 1854 Dahlonega $3 Love Token

The GFRC phone often rings with inquires or questions. Typical is someone with a special Liberty Seated coin with engravings on the backside....a love token. I share a 30 second history of Victorian age jewel making and approximate value with the caller walking away pleased. About 10 days ago, a special call arrived from an elderly gentlemen in Texas. He is a casual coin collector and needed help selling a special coin to supplement his retirement income. The coin was an 1854 Dahlonega $3 gold piece that had been converted into a love token. Back in 1985, this individual knew that 1854-D was the key date in the $3 Princess gold set; mintage of 1,120 with few surviving. He shipped the love token to ANACS for Photograde validation and yes, it was a genuine Dahlonega strike. Then the piece went back into the bank box for safe keeping. Following is that piece.

1854-D $3 Princess Love Token

Mintage 1,120 - Series Key Date - VF Condition - Offered at $3000 On Hold

ANACS Photograde Certificate 02-19-1985

Sometimes, I am amazed at the power of the Daily Blog. I made mention of this 1854-D $3 gold piece in one of the editions and immediately an individual expressed a sincere interest in potential purchase. This individual was one of the many Blog fans who read me daily while not being an active GFRC customer. To make a long story short, the individual from Texas sent the love token along and the interested buyer immediately made the purchase after seeing the above Blog preview images and receiving a photograph of the ANACS Photograde certificate. Everyone was happy and I could not ask for a better outcome!


GFRC Consignment News

I'm pleased to be showcasing a client gallery for the latest Saw Mill Collection consignment. There are no super rarities in this lot but rather a solid group of Liberty Seated quarter collector coins that will be fairly priced. Many are CAC approved which should add to the appeal. The 1856-S is an important offering and is graded PCGS VF30.

Look for these quarters to reach the price list during the late afternoon hours. Of course, FRoR is available immediately.

Saw Mill Run Collection Consignment - February 10, 2018

Quality Early Date Liberty Seated Quarters





New Consignments Wanted!

It does not happen often.... GFRC has no major consignments in backlog other than some under $100 coins from the Gansu Collection in China. The cupboards are empty and darn, I did not bring enough Liberty Seated dimes from my own reference collection to fill the gap. Those pieces are sitting in a Maine bank box with surely, no access from Florida.

Now is the time to contact me concerning potential consignments! Just carefully package your under appreciated coins and I will send a USPS Priority Mail label with shipments covered under GFRC business insurance; there is nothing to worry about when tranferring coins to GFRC. One caveat please. Consignment quality should be consistent with GFRC inventory as I'm searching for type coins that will meet Original through Gem quality rating standards. Please no Cleaned or Market Acceptable items that are better to be wholesaled.


LSCC 2018 Membership Update

Dale Miller, Secretary/Treasurer, issued another report concerning LSCC club member dues renewal for 2018. The number of non renewals has dropped to 74 individuals that have not paid their 2018 dues. There are only 4 days left before the February 15 cut-off, when non-renewals will not receive the forthcoming Gobrecht Journal issue #131 mailed during early March.

I will be writing LSCC membership cards later this coming week, so please get those dues payments in quickly.

Total members: 689
Renewed 2018 or later: 615
Pending 2017: 74

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

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


Daily Featured Coins

Capped Bust half dimes are easy to collect as a date set. The series starts in 1829 and ends in 1837, therefore nine pieces are required to complete a date set. Those with deeper exploration ambitions can pursue major varieties. A complete Logan-McCloskey die variety set (The Ultimate Set on GFRC Open Registry), is a challenging 123 piece project. Following are six lovely Capped Bust half dimes to consider within GFRC inventory.




Thank you for checking into the Blog. Florida temperatures are well above average and best to get that health walk during early morning hours. Since it is a Sunday, there is no shipping to process and the slower pace will allow more progress on updating the Sales Archive with images from the 2014 -2015 sales timeframe. Should I take a break and spend time lounging by the clubhouse pool? I don't think so......

Wishing everyone a great day!




February 10, 2018

Abandon the Ego and Sell the Coin!

Greetings on a quiet Saturday morning and welcome to the Blog as the PyeongChang Olympics are underway.

When much younger, the summer and winter Olympics held a special charm as the reporting was limited to evening programming and newspaper articles. I was in awe of these amazing athletes. As time moved on and I grew older, the technology age evolved leading to that charm wearing off. Yes, some of the charm evaporated due to the relentless media onslaught of stories and needing to sort out those of importance. My point is that excess information can dull the senses and appetite for major events. From PyeongChang, we are confronted with global politics and Pence-Rippon stories plus Twitter conservations that overshadow the core reason for the Olympics. Clearly, I am longing for a time when reporting focused on years of athletic training, preparations, sacrifice and actual competition rather than the corresponding manusia.


Is Price Paid Important When Selling Collector Coins?

Since working with a host of consignors, on a personal level, one of the common themes that is regularly discussed is the price paid for a coin as a guide to the asking price. Unfortunately, there are numerous occasions where the price paid becomes a road block towards divestment and rechallenging monies into other uses.

Let's step back a moment and argue that the price paid for a coin has no bearing on its current market price. Actually, this is the stark reality of buying and selling any asset. Markets are dynamic and constantly moving up or down based on demand and asset availability. Housing, farming commodities, and equity prices ebb and flow based on regional and global linked events. Owning a physical asset provides basic needs, like a home, investment potential, like stocks and bonds, and finally hobby items, that provide enjoyment and balance to one's life. But in all cases, when the time to liquidate comes, the selling price has no direct connection to the purchase price.

This issue is confronted in today's Blog as I see many collectors struggling with the divestment of numismatic assets that are no longer central to their core pursuits. Yes, as human beings, we have egos. In numismatics, a satisfied ego requires that an asset be sold for more than its purchase price, even if only a few percent more. Then the owner can say to friends, in true honesty, that "I made money on the coin". But what happens if a collector is buried in a coin? Buried in a coin is a common term used to describe "paying too much" for a coin and having to sell at a loss in current market. Let's take this further and honestly ask why we "paid to much" for a coin as this is a hindsight assessment.

Collectors purchase coins for roughly the same set of reasons. Collections are constructed as a past time and hobby for most individuals. Others may be more sophisticated and are attempting research and require physical artifacts for examination. The thrill of the hunt and sense of accomplishment with completing a substantial project are important motivating factors for the casual collector and the specialist. Perceived time horizons and financial means often guide purchase decisions. Availability of the hunted coins is another parameter to consider. Collectors spend monies for coins based on their best judgment at the time of purchase. Those with self education and experience will probably make wiser decisions than those just entering a hobby. Attending a four year college to secure a degree is expensive. Learning the ins and outs of the coin market is a financial investment and there is no free lunch in numismatics. One must spend money towards education. Taking time away from work to attend the ANA Summer Seminar for gaining grading expertise is an expensive undertaking. Selling coins below purchase price due to grading inexperience is another approach to the same end.

GFRC's role.....

When helping consignors achieve their divestment goals, my role is to examine their coins and suggest pricing that is consistent with the current market given the quality characteristics of the product. What the consignor paid for the coin has no bearing in my evaluation process. In parallel, I ask consignors to conduct their own self evaluation and suggest retail asking prices. Most of the time, the consignor and GFRC have similar pricing outcomes. But there are times where the consignor will request a price above the market due to a high cost basis and the coin sits on the price list. Reasonable market offers arrive below the asking price and are rejected. My question to the consignor returns to why should the price paid for a coin be a critical factor for the collector's self assessment of fair market value?


Holding on to assets in order to avoid a financial loss is counter productive thinking if the monies are needed for a new enjoyable pursuit. Abandon the ego and sell the coin. I can assure you, from my own experience, that there will be a sense of relief once that asset is gone. Just the fact of not having to think about, and struggling with, the sale at a price below cost basis is worth moving the coin out of your life......

My 10c for the day.


GFRC New Purchases

I am constantly searching for new inventory as GFRC customers expect fresh offerings on an ongoing basis. As discussed previously, in the Blog, new purchases are made against a strict set of criteria to ensure that customers are securing above average quality coins at competitive prices. As mentioned in the previous commentary, I do not wish to be know as a dealer that "buries a collector in a coin".

Here are two fresh purchase with substantial eye appeal and strict originality. Both half dollar pieces have significant luster and look much better in hand than portraited with GFRC images.

GFRC New Purchases - Half Dollars

              1820 O-103 PCGS AU53 CAC                                         1842 Mediun Date WB-14 PCGS AU50 CAC



1854 Dahlonega $3 Princess Love Token Arrives

Yes, USPS registered mail brought the arrival of a gorgeous 1854-D $3 Princess love token with ANACS Photograde certificate. For those not familiar with early United States gold, 1854 Dahlonega strikes were limited to 1,120 pieces with an original VF example bringing $12,000 - $15,000 in today's market. I will have images posted in Sunday's Blog for readers to enjoy. This piece is already under FRoR and is most likely sold.


Daily Featured Coins

Let's close today's Blog with other $3 along with early $2.5 and $5 United States gold in GFRC inventory. Just this week, one of the two 1811 Capped Bust $5 gold pieces went on hold and I'm seeing strengthening in the collector gold market.




As always, that you for visiting with me at the Blog. Time for a health walk followed by packing and shipping several orders. Look for the 1854-D $3 love token images to be posted this afternoon. Wishing everyone a great weekend and of course, please consider a numismatic purchase for your hobby.




February 9, 2018

Greetings and welcome to the Blog on a Friday morning.

It appears that another government shutdown has been averted in the early morning hours but requiring substantial deficit spending. Do Daily Blog realize that government spending is counted towards GDP? As governments increase deficit spending, GDP appears to be improving. The day of reckoning is an unknown for blotted government debt as the Japanese have proven that debt can be managed well beyond crisis expectations. So life goes on and time to return to coin talk.

The 2018 Winter Olympic opening ceremony is underway as this Blog is written. Good luck to all American athletes.


Auction Buyers Beware

An email arrived from the AuburnNY Accordian Collection consignor on Thursday pointing out another gross PCGS mistake. An 1865-S dime with obviously S mintmark is sitting in an 1865 Philadelphia labeled holder and in the Heritage late March Dallas auction queue. Here is the email and the link.

Hi Gerry,

It is amazing how many of these 63-67 dimes continue to be put in the wrong plastic (especially the 65 and 66's....but I have seen 63, 64, and 67's with worn off mint marks as well). For your viewing pleasure:

A misattributed 1865 San Francisco dime in Philadelphia holder could occur for several reasons. First is a administrative labeling error where the data transfer from submission form to PCGS system was done in error. This is plausible as I've seen a fair number of dimes labeled has half dimes and vice versa. Second is the individual who submitted the coin purposely or by mistake, labeling an 1865-S dime as 1865-P. Are graders responsible for checking the validity of the coin against the submission line? If not, then an 1865-S could sale through the PCGS system as a 1865-P. It obviously did again at Heritage as only the label was inspected and not the coin.

It is well known that PCGS struggles with proper identification of 1866-S and 1866 dimes. 1866-S F-101 is frequently seen with a very weak or missing mintmark and labeled as 1866-P. I clearly remember my arguements with PCGS, at a Central States show, where they refused to correct two mislabeled 1866-P dime that were actually 1866-S. Their arrogance was so frustrating after two show submissions to have the issue rectified.

Quality control is an ongoing issue at high volume numismatic companies, especially for early type, and the result is buyer beware. Many office workers lack knowledge of the product being handled.

When dealing with GFRC, you can be assured that I check each coin carefully when loading into the COIN database. To my knowledge, I have never made a mintmark designation mistakes as I know the strike differences between Philadelphia and branch mints for Liberty Seated coinage.


GFRC Consignment News

I suspect that the GFRC consignment queue will not be empty for too long as individuals are starting to respond to requests for incremental consignments. Stay tuned, as discussions are already underway for a potential United States advanced gold type set and more high end Liberty Seated half dollars.

The March Whitman Baltimore show will be a huge consignment event as the New Jersey Collection consignor will be transferring his residual San Francisco mint half dollars along with the New Orleans mint lot. Then the Newtown Collection consignor also plans to transfer a substantial group of duplicates to GFRC at the show. Arrangements are already in place for a consignment from the Malvern Collection at Baltimore show.

Below is a crusty original 1854-O F-102 Shattered Obverse dime that arrived earlier this week from the Indiana Collection. I'm pleased to report that this important Top 100 variety is already on hold.

Indiana Collection Consignment - February 8, 2018

1854-O F-102 Shattered Obverse, PCGS VF25 - Top 100 Varieties #38

Crusty Choice Original - No CAC Attempt


Global Financial News

The end of week arrives with substantial volatility in global equity markets. Seeking Alpha headlines will discuss the situation. But first a quick look at commodity prices. Crude oil continues to drop and is resting at slightly above $60/bbl. Spot gold is quoting at $1317 and Bitcoin appears to have stabilized in the near term at $8268. The 10 year Treasury bond yield is consistent at 2.85%

As mentioned in the Blog opening, the U.S. government has averted another shutdown but at a heavy price for deficit hawks.

Just hours after the government stumbled into another shutdown, Congress passed a budget agreement early Friday that would extend the current level of federal funding until March 23. The bill would also bump limits on defense and non-defense spending by about $300B over the next two years. It will now be sent to President Trump for his signature, ahead of the market open.

Global equity values are dropping and one of the reasons is that stock funds (ETF) are seeing record withdrawals. Since the U.S. equity markets have not seen a substantial correction for several years, then investors are on high alert and moving monies out of markets quickly. As ETFs are redeemed the underlying stocks must be sold amass to raise liquidity. Once again, financial engineering and ETF products create amplification when uncertainty arrives.

Losses were led by Chinese markets overnight, with Shanghai tanking 4.2% and Hang Seng down more than 3%, while Europe also posted a sea of red. Stocks took cues from a slump in U.S. equities, which plunged in the previous session and saw the DJIA tumble by over 1,000 points into correction territory. While many are still trying to pin an exact reason to the selloff and wild swings, U.S. futures may be helped by the overnight efforts to avoid a government shutdown.

U.S. stock funds saw a record $23.9B withdrawn by investors during the most recent week, marking their largest withdrawals on record, according to Lipper. Records from the Thomson Reuters unit date back to 1992. Exchange-traded fund outflows constituted the bulk of withdrawals, at $21B, while mutual fund outflows made up about $3B of withdrawals.

The Chinese will launch a crude oil futures market priced in Yuan and no U.S. dollars. The is another step towards undermining the U.S. dollar as the global reserve currency and moving the global financial center of gravity from the United States towards the China/Russia sphere of influence.

China plans to launch its long-awaited crude oil futures contract on March 26, potentially shaking up pricing of the world's largest commodity market. Implications for the petrodollar? The Shanghai International Energy Exchange will allow Chinese buyers to lock in oil prices and pay in local currency, while foreign traders will also be allowed to invest because the exchange is registered in Shanghai's free trade zone.


Daily Featured Coins

We don't often discuss the Under Construction Collection at the Blog. This individual works in Europe and returns to the United States for major holidays. Before his expat assignment, a substantial Liberty Seated dime collection had been assembled. GFRC was chosen to handle the sale. The initial group was mostly the key and semi-key dates. Discussions are underway to transferred another lot from the collection to fill out the GFRC price list with quality Seated dimes. Following are remaining offerings from the Under Construction Collection to consider.

Under Construction Collection - Liberty Seated Dimes




Time to end the Blog and move into the shipping department. Thank you for your daily visits.




February 8, 2018

GFRC Purchases Vintage Led Zeppelin Prints

Greetings on a peaceful Thursday morning and welcome to yet another edition of the Daily Blog.

For some reason, there is a haunting melody rolling through my mind as this edition is being composed. Baby I'm Going to Leave You is just one of the masterpieces on the first Led Zeppelin album simply entitled Led Zeppelin. Released on January 9, 1969, Led Zeppelin hit the music scene like a sledge hammer. Robert Plant, with his blues/jazz vocals, Jon Bonham the power house drummer and of course, Jimmy Page on guitar and a product of the Blues Breakers. I should not ignore John Paul Jones, the quiet one, on bass and keyboards.

I'm a product of the late 1960 rock music scene and the Vietnam war anxieties. Some older brothers of friends did not make it back home as my time approached for the draft. Those were the primary influences on a teenager attempting to find himself in Lewiston, Maine. Rock music was addicting, so much so that I spent much of my high school years working in the downtown record shop. Coin collecting had fallen by the wayside by 1967 as the Doors, Jefferson Airplane and Cream took center stage. Then Led Zeppelin arrived in 1969. I was the consummate groupie that attended every rock music event in town. Regardless of growing up in Maine, the northern New England musc scene was vibrant with bands call Harvey, Gavatos and Poor Boy. Brass Tacks was a great Chicago cover band too.

Yesterday, the Outback Collection consignor visited and brought a treat. A four piece original print set taken in Herb Greene's San Francisco studio during Led Zeppelin's first United States tour. The exact date of the images is between January 9 - 12, 1969 as Zeppelin was playing the Fillmore West. Of course, a trade was made and these vintage prints will soon be framed and added to the GFRC Venice office collection. (Please forgive the images not being squared as I took quick snap shots with the Nikon during evening hours. These are quick and dirty representations.)

Vintage Led Zeppelin Prints - Herb Greene, San Francisco 1969




GFRC Consignments Wanted

On Wednesday, I finally completed the President's Message for the upcoming Gobrecht Journal and focus returns to processing consignments. However, the GFRC consignment queue is down to an eight piece Liberty Seated quarter offering from the Saw Mill Run Collection and two Seated dimes from the Indiana Collection. Now is the time to ship your unwanted duplicates towards generating GFRC trade credits or the famous GFRC consignment check.

The next GFRC show arrives in two weeks, the Sarasota Coin Show, which will be a huge display event with 10 cases. I could easily process 60-80 coins in time for that show if they arrive within the next few days. Otherwise, the focus will shift to improving content in the Sales Archives and CAC Price Research app which is actually a good thing as Matt Yamatin is quietly working on another ground breaking app that will utilize this information.


Global Financial News

A quick check of Seeking Alpha headlines revealed a quiet news morning. However, commodities are on the move with crude oil down to $61/bbl and spot gold losing further ground to $1314/oz. Bitcoin is finding support and is back to $8483. The 10 year Treasury bold yield is quoted at 2.83%

Chinese Lunar New Year or "Spring Festival" is quickly approaching and arrives on February 16. Chinese people are on the move back to hometowns and consumption is up with gift buying. Inflation typically kicks up during the Spring Festival timeframe as merchants raise prices to squeeze more profits. The Chinese economy continues to be vibrant and growing.

While the trade data may be skewed slightly due to stockpiling ahead of China's Lunar New Year holidays, January exports rose 11.1% from a year earlier, while imports expanded 36.9%, resulting in a trade surplus of nearly $20.34B. Meanwhile, the surplus with the U.S. narrowed to $21.9B, from $25.6B in December. That metric is closely watched as the two countries tussle over trade.

Ontario and New York state are involved in a mini trade war as overall trade tensions between the U.S. and Canada increase.

Trade tensions between the U.S. and Canadian federal governments are spilling over to the state level. Ontario is restricting firms from New York from bidding on its government contracts in retaliation for the so-called Buy American measures approved by Albany. Championed by Governor Andrew Cuomo, the provisions compel government-funded infrastructure projects of more than $1M to use U.S.-made materials and construction supplies.


Daily Featured Coins

The Port Matilda Collection consignor is typical of many GFRC friends. Collectors seek mentorship when attempting to immerse themselves into the numismatic hobby. Our hobby is complex with multiple grading services, grade inflation and CAC approval. This individual sent along prices reductions for his consigned items and included the following commentary that makes what I do for the hobby worthwhile. His price reductions will be online by noon time.

Just thought you may want to know the following. When I stumbled across GFRC it was a great find. I truly believe your business model will help to retain and possibly grow the collector base that will make up the future of the industry. For a guy like me, if I did not have an outlet to sell duplicates and restructure my collection, I most likely would have stopped collecting 12-18 months ago. I like coin collecting; however, it is a rather significant financial commitment for me. Buying retail and selling below wholesale is not sustainable. I don’t view my coin collection as an investment given my age but I do hope to make a few bucks when I can and when I take a haircut on a “bad coin” or “over paid" coin I try to limit it and chalk it up to experience. Always learning, getting better.

Port Matilda Price Reductions - Great Coins at Better Prices!




That is a wrap for today's Blog. For those who have grown accustomed to viewing new client galleries in each Blog edition, my apology. I lost myself last evening with the Led Zeppelin print purchase and wished to share that good fortune.

Please consider a numismatic purchase with GFRC or please send along coins on consignment that are no longer central to your collecting goals. I'm here to help.




February 7, 2018

Liberty Seated Die Varieties Take Center Stage

Greetings and welcome to the Blog on a Wednesday morning.

Another nasty weather system arrives to the mid Atlantic and Northeast today with ice and snow. 8-10 inches of snow are forecast for the Raymond homestead. Across the globe, Shanghai is experiencing one of the coldest winters on record with night time temperatures in the mid 20s and occassional snow. Mid 20s may not seem that cold in a dry winter climate but Shanghai humidity is high and most concrete buildings only have wall mounted air conditioner/heat pumps to provide heat.

Upstate New York Collection Consignor: Fortunate to be Alive

Carbon monoxide poisoning is an ongoing issue associated with malfunctioning space heaters and gas generators that are not properly vented. How about a regular oil furnace that malfunctions? This is the case for the Upstate New York Collection consignor and his wife on Monday-Tuesday overnight. An email arrived late yesterday explaining that he and wife are so fortunate to be alive after their furnace released CO into their home while they were sleeping. My dear friend awoke at 2:00 am with a terrible headache and difficulty moving limbs. He immediately realized the situation and moved wife and two cats outdoors and called 911. They were taken to local hospital and luckily everyone has recovered after a 10 hour hospital stay. As our friend related, the doctor indicated that another 30-45 minutes in the CO environment would have lead to their deaths.

We are a close community and sharing lifes ordeals is important. The Fortin's would typically sleep with the bedroom window left slightly ajar unless temperatures were below zero prior to spending winters in Florida.


GFRC Consignment News

I'm pleased to be featuring a rare Liberty Seated Top 100 Varieties dime consignment that arrived on Monday. This is the first time that GFRC has offered an 1872 proof F-109 example with the misplaced 2 in the base. If my memory is accurate, this is only the third example seen since beginning Liberty Seated dime collecting back in 1989 with my set example being the Greer plate coin. The consigned coin's pedigree is none other than the Eliasberg Collection. It was previously housed in NGC PF64CAM holder with CAC approval before being crossed into new PCGS holder.

The consignor is new to GFRC and believed this community would be the best location for marketing and potential sale. I could not agree more and so pleased to offer today! Please contact me for offer price as I'm sure the demand will be swift!

New GFRC Consignment - February 7, 2018

1872 F-109 Misplaced 2 in Base, PCGS PR64CAM - Top 100 Varieties #58

Ex. Eliasberg Collection, NGC PF64CAM CAC



1839 No Drapery Half Dollar Variety Offerings

Bill Bugert's A Register of Liberty Seated Half Dollar Varieties is a masterpiece for the Seated half dollar specialist and should be in everyone's numismatic library. Attributing Philadelphia mint die varieties is a huge undertaking given the lack of reverse mintmark movement. Attributions points are limited to obverse date punch position, die cracks and other subtle die markers. Bill's thome opens with the 1839 date and the listing of four different die pairing for the popular No Drapery design. Two obverse dies were paired with four different reverse dies when striking a subset of the 1,972,400 mintage.

GFRC is now attributing all 1839 No Drapery Seated halves to the Bugert reference and is pleased to have three of the four die varieties in stock. Following is an illustration of those pieces and respective die varieties with Bugert rarity ratings. Of course, all are available for immediate purchase.

GFRC 1839 No Drapery Half Dollar Die Variety Offerings

1839 ND WB-2 PCGS EF45 CAC (R3)                                           1839 ND WB-3 PCGS EF45 CAC (R5)


1839 ND WB-4 PCGS AU50 (R4)



Global Financial News

Volatity is the new operative word for global equity markets as the sudden drop in U.S. shares have raised fears among investors. Commodities are also moving slightly along with 10 year interest rates. Crude oil has dropped slightly to $63/bbl along with gold spot moving lower to $1331. Bitcoin has found some temporary buyers and is quoting at $8277 this morning. The ten year Treasury yield is at 2.77%.

Following are several Seeking Alpha headlines to start your day. We open with China filing objections with the WTO concerning Trump administration tariffs on solar panels and washing machines.

China is pushing back against mounting trade pressure from the Trump administration, filing challenges to new U.S. tariffs on solar panels and washing machines at the World Trade Organization. The petitions follow an announcement by the Chinese Commerce Ministry on Sunday that it was investigating American exporters of sorghum for allegedly "dumping" the grain below cost into the Chinese market.

Vice President Pence continues to talk tough on North Korea as Kim Jung Un uses the Olympics as a model show.

"The United States of America will soon unveil the toughest and most aggressive round of economic sanctions on North Korea ever," Vice President Mike Pence said on his way to the Winter Olympics in South Korea. "We will not allow North Korea to hide behind the Olympic banner... We will continue to isolate North Korea until it abandons its nuclear and ballistic missile program once and for all."

Elon Musk is the genuis entrepreneur of our generation.

Elon Musk wants "a new space race" after a Falcon Heavy launch success that will "encourage other companies and countries" to be ambitious in the same way as SpaceX. At a fraction of the cost, Falcon Heavy is both more powerful and capable of lifting more weight than the biggest rockets offered by United Launch Alliance - a joint venture between Boeing and Lockheed Martin.


Daily Featured Coins

It seems that Daily Blog editions are growing in length over time. Locating daily content has become a lifestyle and key part of the enabling the GFRC collector community. Let's close today's Blog with some random quality coins to consider for purchase.

A GFRC Purchase Would Be Appreciated!




So ends today's Blog. Thank you for stopping by! Time for a health walk followed by writing the overdue President's Message for the upcoming Gobrecht Journal.




February 6, 2018

Original Gray Patina is So Beautiful

Greetings on Tuesday morning and welcome to the Daily Blog.

Equity markets are finally correcting, which is a positive development. Any asset that moves up in a straight line continuously is a bubble and all bubbles are subject to gravity. The million dollar question is when does the bubble break? Investors love to ride an upward trend and use a host of stop loss strategies to run for the exit when it becomes apparent that the upward trend has broken. We are currently witnessing this event and will discuss potential triggers later in the Blog.

In the meantime, let's take a look at some quality new GFRC inventory that is under strong demand after being posted as a Monday preview. Thank goodness that quality early type coin are not in a bubble as there are no investors to be seen. Rather demand is from knowledgeable collectors, with patience, who appreciate the challenge in locating those United States historical items that have seen the best possible preservation. That is what our hobby is about.

Original Gray Patina is So Beautiful

Need I say more concerning these two gorgeous and well match pieces? Those with a discerning eye for strict originality should appreciate these two Liberty Seated offerings.

GFRC New Purchases

1838 ND PCGS AU53 CAC 25C                                                         1864 PCGS AU53 CAC $1



GFRC Consignment News

White Pine Collection Consignment

It is great to be back in the GFRC office and processing quality consignments. Case in point is the latest installment from the White Pine Collection. Each piece is attractive toned with many being CAC approved for originality and accurate grading. Several FRoR requests arrived during the overnight hours. I am presently confirming the asking prices, with the consignor, and should be posting these to the price list today. Please note that the 1859-S quarter is a metal detector find by the consignor from the western United States. This piece has been assigned a Cleaned quality rating but is the highest grade example handled by GFRC to date.

White Pine Collection Consignment - February 6, 2018

Nice Circulated CAC Approved Offerings





Global Financial News

Let's open today Financial News module with two charts published in Monday's Daily Reckoning edition. I don't often quote or use material from this newsletter due to the amount of "hype" or sensationalism. As expected, the issues was entitled Bloodbath as a result of Monday's drop in the Dow Jones average and S&P 500. Inside the newsletter were two graphs that are worth sharing. The first is the conventional speak for why markets are dropping; the 10 year U.S. Treasury bond yield is climbing and that is bad news for stock market investors.

But what is behind the sudden increase in long bond yields? The second graph may be the reason; the Federal Reserve has started to unwind its $4.5 trillion balance sheet that was accumulated during the Great Recession. The Fed has publically announced that it plans to sell $30 billion per month in assets starting in 2018. Who will buy this debt? The Chinese have enough U.S. debt and so do the Japanese. Then who and under what incentives? Basic economics teaches us that if an asset becomes plentiful, then prices must come down. In the case of bonds, yields must rise when prices drop. (A note: the y axis is Trillion and not Million as labeled)


Seeking Alpha's Wall Street Breakfast

Let's move on to Seeking Alpha's Wall Street Breakfast and Tuesday morning headlines. First, a quick look at commodity prices.

Bitcoin continues to tank and is quoting at $6320 this morning, while crude oil has moved marginally lower to $64. Spot gold is once again stable at $1346. Interestingly, the 10 year Treasury bond yield is back to 2.7%. So why all the market turmoil? Is it the herd mentality with everyone running for the exit at the same time?

We open with a Bitcoin was only a matter of time before government oversight of Bitcoin markets came into the spotlight.

Bitcoin slid another 13% to below $6,000 overnight, bringing the cryptocurrency's losses to more than half since the start of 2018 following a peak of almost $20,000 in December. At a Senate Banking Committee hearing scheduled for today, the SEC and CFTC plan to ask Congress to consider federal oversight for digital-currency trading platforms, many of which have been operating in a regulatory gray zone.

Global equity markets are also selling off in sympathy with U.S. equities. There is no change in the underlying economic fundamentals so let's see how long the sell off actually lasts. In today's high speed internet connected world, amplification is an important issue to consider.

Following steep losses throughout the night, U.S. stock index futures are see-sawing between positive and negative territory, while the global selloff continues in Europe and Asia. The DJIA posted its largest-ever, single-day point decline yesterday, while the S&P 500 erased its gains for the year. According to the White House, President Trump is focused on "exceptionally strong" fundamentals in the U.S. economy, amid "strengthening growth, historically low unemployment and increasing wages for American workers."

Brexit negotations continue with the EU.....

A new round of Brexit negotiations is set to kick off today after EU chief negotiator Michel Barnier told the U.K. that the time had come for the nation to make a choice on what kind of post-Brexit relationship it wanted with the bloc. The latest talks will also mean traders will be paying close attention to the moves in sterling and the euro.

And finally, Elon Musk is the ultimate dreamer but also has execution skills to bring dreams to reality!

World's most powerful rocket... The maiden flight of SpaceX's Falcon Heavy is scheduled for 1:30 p.m. from the Kennedy Space Center. Following liftoff, two of the rocket's cores will return to the landing pad, while the third core will land on a droneship at sea. As for the cargo? A cherry red Tesla Roadster will be launched into a heliocentric deep space orbit while blasting David Bowie's Space Oddity.


Daily Featured Coins

I'm incredibly pleased to illustrate the following Liberty Seated dollar gallery. Dan White and I have been working diligently to locate the best possible Seated dollar offerings for GFRC customers and this gallery sums up the progress. GFRC is now a credible source for the largest of Liberty Seated denominations.

GFRC Liberty Seated Dollar Inventory Expansion




So ends another edition of the Daily Blog. Thank you for visiting and being loyal readers. You can bet that I will be back on Wednesday morning with more ramblings and maybe the lastest Saw Mill Run client gallery; it all depends on Venice weather.

Please consider a purchase to help consignors move along their duplicates to new homes.




February 5, 2018

Congrats to the Philadelphia Eagles + Quality Consignments Requested!

Welcome to the Daily Blog on the morning after the Super Bowl; thank you for stopping by.

How would you feel if a lightning strike took out cable access during the third quarter of the Super Bowl game? Well, that is exactly the event that took place last evening. The Fortin's lost Comcast cable signal, including internet access, during the middle of the third quarter. Definitely a bummer. I returned to the GFRC office, fired up the mobile AT&T hotspot on my Samsung phone and captured segments of the remaining game. My data plan is not configured for live streaming, therefore tracking was done with occasional score checks. Oh well.....Congrats to the Philadelphia Eagles as I thought the Patriots were just too sloppy with execution to win another Super Bowl. One cannot make a habit of coming from behind in the 4Q during championship games.

Monday arrives after a Super Bowl and Venice coin show weekend and time to return to normal GFRC operations. During the overnight hours, Matt Yamatin corrected the COIN database file since Microsoft did a terrible job auto repairing the Excel file, on Sunday and messed up pointers in the Consignor Report module. Hopefully all is back to normal this morning with shipping and consignment check payments being the first activities. And yes, I still need to write a President's Message for the March Gobrecth Journal after a kind reprieve from editor Bill Bugert.


Phil Carrigan Deceased

Bill Bugert sent along a Chicago Coin Club press release that sadly announced the passing of long time LSCC member Philip Carrigan. Phil was an avid collector and I was fortunate to have first met him during the mid 1990s via Brian Greer. He was a gracious and warm person that would make you immediately at ease during a conversation. He professional and numismatic career accomplishments are substantial as are his volunteer efforts.

Philip J. Carrigan (73) passed away January 29, 2018. He joined the Chicago Coin Club May 10, 1989 as member 1013. Phil was a life member of the American Numismatic Association (ANA), served as the Education Chairman at the Chicago 1999 ANA Convention, worked as a volunteer at Chicago’s 2011, 2013-15 ANA Conventions and received the ANA Presidential Award in 2014.

Phil had a deep interest in Barber coinage. In 1989 he became a charter member of the Barber Coin Collectors’ Society, served as President (1994-2015), made many contributions to their journal and received their 2015 Award of Appreciation. He was a charter member of the John Reich Collectors Society and a member of the Numismatic Bibliomania Society where he also served on their Board.

A native of Massachusetts, Phil earned an undergraduate pharmacy degree from Massachusetts College of Pharmacy, a master’s degree from Northeastern University and a Ph.D. in pharmacokinetics from the University of Connecticut. He finished graduate studies at University of Buffalo. He joined Abbott Laboratories in 1974 and served for thirty years working in the area of pharmaceutical research and development. In 1985 he was inducted into Abbott’s prestigious Volwiler Society which recognizes their most distinguished scientists and engineers.

Phil was a dedicated volunteer and advocate in Waukegan and Lake County, Illinois. He was elected as a Trustee at the College of Lake County and also served as Chairman of the Board. He worked tirelessly with numerous organizations dedicated to helping the homeless, the hungry and visiting prisoners. In lieu of flowers, donations can be made to the Eddie Washington Center, which provides transitional housing for homeless single men in Lake County Illinois.


Quality Consignments Wanted - Near Term Window Has Opened

In prior Daily Blog editions, I've made mention of taking on a substantial consignment during the middle of February. After much careful consideration and advice from several GFRC stakeholders, a decision was made on Sunday to forgo this consignment for strategic reasons. GFRC set specific 2018 year end goals with this major consignment being inconsistent with achieving those goals. Instead, I will use the incremental time to improve the Sales Archive and CAC Price Research application content along with providing fast turn processing of smaller consignments that might appear during the balance of February.

Therefore, new consignments are requested and can be immediately processed and loaded to the price list before the Sarasota Coin Show and also the Whitman Baltimore show.


Global Financial News

We open the week with all eyes on United States 10 year treasury bond yield that continues to climb. Anticipation of higher interest rates for corporations and the average person are impacting equity prices. There should be no surprise here as high debt levels are pervasive throughout the United States and global economy after years of uncharacteristicly low interest rates. Those who increased leverage must eventually face the reality of interest rates returning to "normal" levels. The "sky is falling" media will have a field day with this development as the equity markets begin to correct in anticipation of higher borrowing costs.

A quick look at commodity prices show crude oil stable at $65 and spot gold priced solidly at $1340. Seeking Alpha is again reporting the Bitcoin price which continues to fall. Today's quote is $7584. The key metric is the ten-year US Treasury Yield that now stands at 2.85%.

Let's review some individual Wall Street Breakfast headlines. We open with two headlines related to higher interest levels and corporate borrowing costs. Can you imagine operating a company with a debt:earnings ratio exceeding 5x? I could not sleep at night if my company. Rather GFRC operates with no debt whatsoever.

Continuing their recent selloff, equities are sharply lower this morning after the DJIA closed more than 600 points lower Friday, marking only the ninth time in history that has happened. Bears appear to be fearful about the sudden acceleration in bond yields, which increases companies' borrowing costs, amid increasing concerns over inflation and aggressive policy tightening. U.S. stock index futures:

The number of defaults by highly leveraged companies could rise significantly amid tightening credit conditions, according to S&P Global Ratings. The agency estimates that the proportion of corporations whose debt-to-earnings exceeds 5x - stood at 37% in 2017, compared to 32% before the financial crisis, and removing the "easy money punch bowl" could trigger the next default cycle.

The noose continues to tighten around Bitcoin. Credit card companies are now banning crytocurrency purchases.

Amid fears of running up huge losses, Lloyds is barring its credit card customers from buying bitcoin and other cryptocurrencies. It follows similar moves by U.S. rivals JPMorgan, BofA and Citigroup, which all announced similar bans on crypto purchases via credit cards on Friday. Worries over a global regulatory clampdown led bitcoin - which is still trading below $8,000 - last week to record its biggest weekly loss since December 2013.

Daimler and Bosch are teaming up to attack the autonomous vehicle market in a big way.

More robo-taxis? Daimler, the world's No.1 maker of premium cars, and Bosch, the world's No.1 automotive supplier, will begin testing the vehicles in the coming months. "Apart from highly autonomous level 3 vehicles we will also bring fully autonomous vehicles - level 4/5 - to the streets in the foreseeable future," Daimler's Wilko Stark told Automobilwoche.


Daily Featured Coins

Next up in the consignment image processing queue is the latest lot from the White Pine Collection. Consignmemt sales from this individual have been steady as a slow and carefully managed divestment program is underway. Following are current White Pine Collection highlights located within GFRC's inventory. Please do consider a purchase or an offer.

Quality White Pine Collection Offerings







February 4, 2018

Super Bowl Sunday Arrives as GFRC Takes a Break

Greetings on an early Sunday morning and thank you for stopping by at the Blog.

The past week was frankly exhausting. Even though the Venice coin show was just a few minutes drive from the office, the process of preparing for the show, then working on the bourse coupled with late evenings in the home office, finally took its toll. Much needed sleep arrived at 8:30 pm on Saturday. This morning, I feel recharged and looking forward to a regular schedule with health walk and a lunch salad.

Venice Coin & Currency Show Day 2 Report

The local dealers were right. Saturday was a slow long day at the Venice coin show. All multi day coin shows have the same customer behavior pattern. Serious collectors arrived on the first day of a show to gain access to fresh material. Then the "tire kickers" arrive on the following day to take in the event without strong numismatic goals.

GFRC enjoyed two sales across six hours of manning the booth. As usual, it is difficult to nearly impossible to sell premium quality coins to those walking around with CDN greysheet. When the sheets appear from an individual's handbag and who is obviously not a dealer, then my energy level is minimal to even engage as the outcome is always the same. My attention does perk up when collectors have a tablet and are using CoinFacts prices as a basis for pricing discussions. The latter signifies a collector who has done homework and is in tune with the current market.

The day's highlight was a visit by Pam and Truman. This lovely couple met at a support group after both losing spouses to cancer at a young age. Now married, they share a husband and wife passion not often seen. Both are passionate numismatists and have assembled the top rated Peace dollar date and mintmark set on the NGC Registry. The set is listed as Pam's Peace and was brought to the Venice coin show for sharing with several dealers. GFRC was on of their stops and the visit made the day for Dan White and I. Viewing a complete set of Peace dollars at the MS66-MS67 level with many star bonuses with indeed a special event. The chance to study the set at uniform grade level was an opportunity to tune my eyes for the series along with sharing the obvious pride of ownership.

Overall, the GFRC debut at the Venice Coin and Currency show was a delightful success and a commitment for the 2019 show has already been extended.


Next Florida Show Events

Dan and I are planning to visit the Lakeland Collectorama show on February 16 as a buying event only.

Then the Sarasota Coin Show arrives on February 23-25 with GFRC having three tables and a huge 10 cases of inventory on display. The same inventory strategy that worked at Venice will be once again employed for the Sarasota show. There will be an attempt to wholesale out long held lower quality pieces, at this show, as GFRC continues to refine its inventory position towards CAC approved material and those non approved coins that are worthy of a choice/original GFRC quality rating.


GFRC Consignment Business Status

While at the Venice coin show, GFRC broke through a new milestone for its consignment business. I'm pleased to report that the $2,300,000 consignment proceeds level was crossed and now stands slightly above that point. A sincere thank you goes out to all consignors who continue to trust me to properly market and sell their coins.

If checking the Blog Archives, the $2,000,000 level was crossed back in October 2017. At the current sales rate, the $3,000,000 year target does appear to be achievable by end of 2018 but only if GFRC can continue to source quality consignments. The development of website applications hopefully will attract more traditional "major auction" consignors to GFRC as the customer base expands.

GFRC Consignor Proceeds Top $2,300,000


GFRC Open Set Registry Status

Speaking of important website applications, the Open Set Registry continues to gain new participants. Below is a screen capture of the homepage with Liberty Seated coinage sets selected. Activity level is constant as GFRC customers continue to build and upgrade their sets. Presently, there are 393 "regular" Liberty Seated coinage sets and I'm looking forward to crossing the 400 set threshold by end of February.

Please remember that images for any GFRC purchase will automatically appear in the Open Set Registry when the TPG serial number is added. This fact highlights the service level provided to customers towards enhancing their hobby experience. If you purchased coins from GFRC prior to middle of 2016, the images are available but must be renamed with the TPG serial number. Please contact me and I will take care of this for you.

GFRC Open Set Registry Status


Quality Consignments Wanted!

A reminder that GFRC is continually searching for quality consignments and must compete with the major auction houses and also, two online auction/retailers. The challenge is substantial, but there are advantages to working with GFRC.

- GFRC is primarily focused on numismatic community building as its retail sales platform. Your coins are purchased by collectors who have the same long term set building goals as consignors.

- GFRC targets regular retail sales channel and sells a minimal amount of coins to other dealers at lower wholesale prices.

- GFRC is collector friendly and works in a partnership manner with consignors. Your risk is minimal.

- GFRC provides detailed die variety attributions and coin descriptions plus the Quality Rating System. There are no surprises when selling with or purchasing from GFRC.

- GFRC provides CAC submission service

- GFRC will attempt to purchase a subset of your consignment if immediate cash is desired.


Daily Featured Coins

United States gold was a popular display case destination at the Venice show along with all other coin shows. Dan White is the GFRC gold expert and typically sits in front of the gold cases while Gerry handles the silver and copper sales. Gold sales at Venice show were strong as an improving spot gold bullion price is attracting attention to the larger denomination offerings. CAC approved gold is always popular and difficult to maintain in stock.

Following are highlights from the GFRC United States gold product line to close out today's Blog.

Quality United States Gold Offerings




Thank you for visiting the GFRC website and Daily Blog on Super Bowl Sunday. Good luck to both teams.

Take care and please consider a GFRC purchase today. Every purchase is special and important to the community as coins are relocated into new collections and freeing up monies for upgrading activities.




February 3, 2018

Surprising GFRC Debut At Venice Coin & Currency Show

Welcome to the Daily Blog on a Saturday morning with much of the Blog composition taking place on Friday evening.

Venice Coin & Currency Show Day 1 Report

The GFRC debut at the Venice show took place with low expectations. I made a command decision on Thursday morning to bring the best possible GFRC inventory possible to Venice show which may seem counter intuitive. Setting up at a small 25 table coin show would probably warrant loading the cases with collector coins priced between $100 to $500. But my 6th sense said to go with the high end inventory and turn Venice in a marketing event. There was little downside other than table fees and personal time. Let's just say that this was a home run decision.

Dan and I arrived at 7:45 am and had the eight cases ready for business well before the 9:00 am public opening time. Four collectors were queued....a slight bit of concern that was soon abated. The public quickly arrived afterwards, in ernest, with Dan and I servicing customers on a non stop basis until 2:30 pm. Throughout the day, one could hear the wonderful bourse floor "buzz" that signifies an active show. Aisles were crowded and collectors were in a buying mood. About two hours into the show, Dan looks at me and says, "Venice is better than the first day of the FUN show!" GFRC had an surprisingly strong day with United States gold, Liberty Seated dimes and quarters and Capped Bust halves being top sellers. With an estimated $750,000 of inventory in the cases, GFRC was by far the dominant dealer at a show that featured mostly raws coins, slabbed Morgans and general bullion spread across other dealer tables.

On Friday, I learned an important lesson. Do not try to adjust inventory to the anticipated clientelle. Rather, go with the best possible offerings as local collectors infrequently see this type of numismatic material and will step up to purchase.

Saturday brings the second and final day of the Venice coin show. Local dealers warned that Saturdays are slower than on Friday but frankly, I suspect that GFRC will have another decent day with sales volume mitigated by the number of collectors that attend.


Anyone Need an 1823 O-109 R5+ Capped Bust Half?

One of the Venice coin dealers is a Bust Half Nut Club member and has a substantial personal collection. He brought an 1823 O-109 R5+ graded NGC VF Details to the table asking if I could find a home for this piece. Why not mention in the Daily Blog on a best effort basis? Following is a brief description that was captured with the coin in hand.

1823 O-109 NGC VF Details R5+ old light cleaned, fully retoned, aquamarine blue obverse toning surrounding stars. Reverse is even silver gray. Some old hairlines when angled under bright light. Bold obverse die cracks are readily visible with 10x loupe. Asking $2700.


Seth Godin Blog

Little else is prepared for today's Blog therefore a visit with Seth Godin is the easiest path for adding content. I like Seth Godin's Blog as the individual has a gift towards crystallizing positive insights about business, personal initiatives and behaviors and the like. Several people have called me a "workhorse" given the amount of time and energy expended with growing the GFRC business and enabling the surrounding community. Then there is Matt who provides amazing software development while training each day for obtaining that elusive 2:30 marathon goal.

Yes, goal attainment can be a grind and requires daily commitment. The risk with conducting the work process, the same way each day, is lack of creativity for efficiency improvements. How can I become more productive with less time and effort should be asked frequently. Godin mentions sprinting as an approach for determining what is critical in the work process and what might be ignored or discarded. As Godin states, The best way to improve your marathon is to learn to sprint now and then.....

A sprint

Most of us have two speeds.

There's the grind, the day after day, a marathon, work work work.

And there's the recovery, the sleep in, Netflix and chill zombie state that we compartmentalize into a day like today.

But what about sprints?

Not sprints because the boss or the client insists.

Sprints that we take on merely because they energize us and remind us of how much we can do when we get out of our own way. Sprints that build our capacity. Sprints to embolden us.

The best way to improve your marathon is to learn to sprint now and then.

Maybe you can't sustain a sprint for a day.

But what about this afternoon? What could you learn or build or teach or contribute? What can you ship?


Daily Featured Coins

The Venice coin show bourse will be opening shortly so let's close the Blog with some nice coins that are hoping to find a new home in the near term. Embarking on an early type coin collection will be a substantial learning experience. If a steadfast collector of 20th century coins, then try building a mid grade circulated type set with CAC approval. There will be financial and time (learning) investments required but the knowledge gained will be well worth the effort. Following are some recommended candidates.

Mid Grade Type Coin Candidates




Thank you for visiting the Blog on a quiet Saturday morning. It is already time to brush teeth and head off to the Venice coin show for another day for fun.

Please consider a numismatic purchase today as tomorrow is Super Bowl Sunday and no one will be thinking about coins.....




February 2, 2018

Venice Coin & Currency Show Time!

Greetings and welcome again to the Blog. Thank you for checking in.

Today's edition will be brief as heading to the Venice coin show early as local dealer setup open at 7:00 am followed by public admission at 9:00.

Thursday's dealer setup was quiet with maybe 40% of dealers arriving. GFRC will definitely be the big fish in a small pond and positioned nicely to the right of the entrance. Inventory quality is consistent with the FUN show; cases are loaded with CAC approved coins. During setup, Dan White worked the floor and found nothing of interest. I still have 200 LSCC 2018 membership cards to sign and bringing the box in case this event is sleepy.


GFRC New Purchases

A nice lot of new purchases was announced yesterday followed by a pictorial preview posted during late evening hours. The FRoR requests poured in immediately which is always great. When great CAC approved type coins are offered, collectors move quickly to secure these. So far, the 1874 PCGS AU53 CAC, 1838 ND PCGS AU53 CAC quarter, 1887 PCGS EF54 CAC half dollar and 1867 PCGS VF35 dollar have FRoRs. The 1838 quarter was placed into inventory, by mistake, before being photographed and will be pulled from the Venice show case.

These offerings will be priced today, while at the show, with follow-up via email.

GFRC New Purchases

Quality CAC Approved Type Coins





GFRC Consignment News

The White Pine Collection consignment is up next for client gallery generation and I will probably work on these images during the evening hours. I'm also pleased to report that the latest Saw Mill Run Collection consignment has arrived and will be photographed on Monday.


GFRC Coin World Marketing

For those of you who are Coin World subscribers, the February monthly magazine has a prominently placed GFRC ad on page 18 which announces the website applications developed by Matt Yamatin. Matt and I are discussing another ground breaking application that absolutely no dealer has attempted in the numismatic market. Stay tuned as the development effort is extensive. If Matt can code this concept, then there will be more incentive for higher valued consignments to find their way to GFRC.


Global Financial News

The news of the day, from Seeking Alpha's Wall Street Breakfast, is that Bitcoin reporting has been dropped. Maybe it was an oversight on a Friday morning as the Bitcoin quote is missing. Therefore, I went to Kitco to check the price chart and it sure look ugly. Bitcon is down to $8160 as quoted in USD. Here is the chart.

There is not much else to report from Seeking Alpha headlines......


Daily Featured Coins

Following are the coins selected for GFRC display tray. Yes, these are four and five figure coins that hope to find a new home in an advanced collection. One never knows who might walk up to the table and fall in love with one of these serious numismatic items.

Venice Coin Show - Display Tray Content




So ends another Blog edition to wrap up the work week. Time for a short drive to the Venice Coin & Currency show. I will be back on Saturday morning with a show report and other ramblings. Have a great day!




February 1, 2018

LSCC February E-Gobrecht is Published!

Greetings and welcome to the first Daily Blog edition in February 2018.

There is considerable Liberty Seated Collectors Club news to discuss in today's Blog. But before we move into that topic, a quick reminder that the Venice Coin and Currency show starts today with dealer setup at 3:00 pm. As a result, the primary activity for the day will be preparing inventory along with packing cases and lights for bourse floor setup. Dan and I hope to conduct some wholesale buying and selling activity towards end of day. Morning shipping will be completed but little else in terms of new postings on the price list.


LSCC February 2018 E-Gobrecht Available

Quite predictably, the February 2018 edition of the E-Gobrecht arrived to my Inbox at 1:00 pm yesterday. A sincere thank you goes out to editor Bill Bugert for preparing another excellent issue, and to the contributing authors, for another must read for fans of Liberty Seated coinage.

The February 2018 issue can be downloaded by clicking here as your second numismatic read of the day (after the Daily Blog of course!). Here is a quick look at the topics.

- The headline topic discusses the Liberty Seated Collectors Club Premier Membership Medal status as written by project coordinator, Jeff Ball. Jeff announces the availability of both the four piece set Capital Plastic holder and now a single silver medal Capital holder that will be include as a free bonus to the first 100 silver medal orders. The project is moving along with dies being prepared and trial strikes to be done in February.

- Jim Macor then follows with a presentation of the final Premier Membership Medal "sculpts" from Dan Carr at Moonlight Mint. Frankly, we are very pleased with the transformation of Jim's artistic renderings into a final product. The article provides insights into design formation and the significance of chosen devices.

- Craig Eberhart is back with a well received format change for the monthly Auction News module.

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

- John Frost provides a well written FUN Show summary along with the traditional group photo.

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

- Len Augsburger writes about Stuff They Don't Teach You in Coin School, Nos 1 -3. This is an absolutely must read as Len shares behind the scenes insights concerning the coin market and how to effectively make numismatic purchases.

- Greg Johnson writes an indepth article on the rare 1864-S quarter and is another must read for fans of that series. We are blessed to have the premier experts writing for the E-Gobrecht.

- Benny Haimovitz is back with his monthly Cracked, Shattered and Terminal column too. This month's subject is the 1875-S Type I/I Trade Dollar and illustrations of reverse die cracks.

A sincere thank you goes out to some of the best numismatists of our time for sharing their expertise!


LSCC 2018 Membership Update

Dale Miller, Secretary/Treasurer, issued another report concerning LSCC club member dues renewal for 2018. The number of non renewals has dropped to 85 individuals that have not paid their 2018 dues. A reminder that if dues are not paid by February 15, then these individual will not receive the forthcoming Gobrecht Journal issue #131 mailed during early March.

Total members: 687
Renewed 2018 or later: 602
Pending 2017: 85

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

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


GFRC New Purchases

Locating fresh numismatic inventory is a never ending process. It seems that Dan White and I chat at least once a day on potential sourcing options.

I'm pleased to report the following items have arrived at the GFRC office and should be on the website by the weekend. Photography will be done today and image processing during evening hours after the Venice Coin show.

Seated 10c: 1873 WA PCGS AU55 CAC choice original crusty gray; 1874 PCGS AU53 CAC choice original crusty gray

Seated 25c: 1838 PCGS AU53 CAC choice light gray patina, challenging grade

Seated 50c: 1839 WB-3 R5 PCGS EF45 CAC choice light gray and better die pairing; 1887 PCGS EF45 CAC rare circulated grade with CAC approval

Seated $1: 1846 PCGS EF45 CAC choice original for grade; 1867 PCGS VF35 CAC OGH antique gray surfaces


Global Financial News

Let's start this module with a quick view of overnight trading and resulting commodity prices. Crude oil moved back over $65/bbl and spot gold is slightly lower at $1341. Bitcoin prices continue to be under strong pressure at $9601 as speculation fever is giving way to the harsh reality of governmental rejections of crytocurrencies. The ten year U.S. Treasury yield stands at 2.74%.

Markets have priced in a March 2018 increase to short term interest rates as the U.S. economy continues to strenghten.

The Federal Reserve held its Fed Funds target range at 1.25-1.5% on Wednesday as Janet Yellen gets ready to depart the central bank. The economy continues to strengthen, and inflation is expected to move up, according to the policy statement, while the FOMC continues to anticipate further gradual increases in short-term rates. Rate markets have about fully priced in March as the next move.

More positive news from Japan that manufacturing is growing after similar news from the Eurozone.

It's PMI Day across the globe. Japanese factory activity in January showed its strongest growth in almost four years, while China's Caixin-Markit manufacturing PMI was unmoved from the previous month's reading of 51.5. Meanwhile, booming manufacturing in the eurozone saw the region roll into the new year with near-record momentum. PMI manufacturing data in the U.S. will be released at 9:45 a.m. ET.

Facebook stock is again moving up in positive earnings growth though usage was down in Q4.

The number of people in North America who check Facebook every day dropped in Q4, but dominance in digital advertising powered another surge in quarterly profit. Excluding a $3.19B tax charge, net income jumped 20% to $4.27B. "I want to be clear: The most important driver of our business has never been time spent by itself. It's the quality of the conversations and connections," CEO Mark Zuckerberg said on a conference call, boosting shares 1.4% AH.

Sears continues its slow decay as the emphasis is on cost savings to keep the company viable.

As part of its ongoing restructuring plan, Sears is laying off 220 employees primarily at the company's corporate headquarters in Hoffman Estates, Illinois. "The company continues to achieve significant progress, with actions taken in fiscal year 2017 to realize $1.25B in annualized cost savings," according to a spokesman. Sears also expects to cut about 150 more employees at Hoffman Estates at the beginning of April.


Daily Featured Coins

GFRC is well known for offering a broad range of Liberty Seated coinage inventory. However, GFRC also uses the same rigorous buying standards towards assembling some great Draped Bust quarter and half dollar offerings. I'm very pleased to showcase the following items in today's Featured Coins module. Please consider a purchase!

Draped Bust Inventory Highlights




So ends today's edition of the Daily Blog. Time for a quick shower and then immediately focusing on packing and shipping the day's orders.

I will be back tomorrow morning with another edition and share pertinent news from the Venice coin show setup. Thank you for visiting with me at the Blog.



January 31, 2018

Check Out the GFRC New Purchases!

Welcome to the Daily Blog on the final day of January 2018. How time moves along so quickly.....

I'm sure that most Daily Blog readers took in President Trump's State of the Union address last evening. As a small business owner, I found the speech to be positive and uplifting as the United States appears to be on the right economic track. Remember that a rising tide floats all boats and those, who anticipate that tide, will be positioned to enjoy financial prosperity for themselves and families. Safety and security for one's self and family are also paramount.

Are Blog readers familiar with Maslow's Heirarchy of Needs? If not, here is a graphic that illustrates the human condition and journey from basic physiological needs and safety towards self actualization. Note how employment (safety) is a precursor to personal esteem. There are no short cuts within the Heirarchy of Needs and those who believe that individual self actualization is possible without a strong foundation of employment and self esteem should carefully review and consider this model. The State of the Union address was solidly focused on rebuilding the first three layers of heirarchical needs towards esteem and self actualization for existing citizens.


GFRC at Venice Florida Coin and Currency Show - February 2-3, 2018

I'm pleased to report that GFRC is now tooled up for the Venice Coin & Currency show this Friday and Saturday. Eight lightly used display cases arrived via Wizard Coin Supply and six lamps via Staples. The hardware is ready with GFRC inventory to be selected tomorrow. GFRC will have two tables and eight cases of quality early type and United States gold inventory. The Venice show is a precusor to the upcoming Sarasota Florida show, whereby GFRC will have three tables and ten cases. The Sarasota show takes place on February 23-25 at the Municipal Auditorium nearby St. Armands Circle.


GFRC New Purchases

As GFRC becomes more well known, throughout the United States, new purchase opportunites are growing. It seems that each day brings a phone call for information or the desire to sell a special Liberty Seated coin. Just yesterday, an individual called from Texas with a 1854 Dahlonega $3 Princess love token that had been previously certified by ANACS Photograde in the 1980s. He is now 72 and wishes to turn this piece into cash. For those who are familiar with early United States gold, the 1854 Dahlonega $3 Princess is the series key date with mintage of 1,120. Potential pricing exploration is underway. Pricing a key date that had been made into a love token is very challenging.

Below are more GFRC new purchases. The 1852 F-110b Seated dime immediately sold after being showcased in the Blog on a preview basis. The 1839 No Drapery Seated half is graded PCGS EF45 CAC and is perfectly original as is the 1867-S PCGS AU58 CAC half. GFRC continues to expand quality Seated dollar inventory with the addition of this gorgeous 1849 example graded PCGS AU55 CAC.

More new purchases are in transit and should arrive today.

Exciting GFRC New Purchases




GFRC Consignment News

The much anticipated Whiskey Run Collection consignment is posted to the price list as of last evening. Full descriptions will be added today. Already, initial sales have been positive and I'm sure a few more pieces will be sold in the near term.

The latest White Pine Collection consignment has been photographed and I'm hoping to have online before the Venice coin show. However, I still owe Bill Bugert a President's Message for the upcoming LSCC Gobrecht Journal and that document must be written today. Time is always so precious for small business owners as there is always a long "to do" list while attempting to provide the best possible service to customers and consignors.

I'm also expecting the arrival of the next Saw Mill Run Collection consignment today or tomorrow.


Global Financial News

We open the day with commodities and long term interest rates continuing to be stable. Crude oil has dropped slightly to $64/bbl while spot gold is again resting at $1346. Bitcoin prices are again under pressure at $10239 with more negative news unfolding each day. The ten year U.S. Treasury yield stands at 2.71%.

Let's visit Seeking Alpha's Wall Street Breakfast headlines for pertinent news items on a mid week morning. We open with Facebook also cracking down and banning ads that promote cryptocurrencies.

Crackdown continues... Facebook is banning ads that promote cryptocurrencies, in a sweeping policy that covers bitcoin as well as initial coin offerings. It's an "intentionally broad" approach to prevent "financial products and services that are frequently associated with misleading or deceptive promotional practices." The news didn't help bitcoin, which dropped 12% to below $10,000 yesterday as Bitfinex and Tether were sent subpoenas by the CFTC.

Bristish PM, Theresa May, is attempting a direct trade agreement with China.

Britain is seeking a free trade agreement with China, Prime Minister Theresa May said on Wednesday as she flew to the country for talks with Chinese leaders, pledging to challenge Beijing to stick to international trade rules. Country in transition? The deal comes as China's manufacturing sector grew at a slower pace than forecast in January, according to official PMI figures, while the services industry picked up at the start of 2018.

The EU has another issue concerning Brexit. Much of the EU's financial assets management and investment banking are conducted in London.

European Commission officials have rejected the City of London's proposal to strike a post-Brexit free trade deal on financial services because of signals it will leave the single market, sources told Reuters. About €6T, or 37%, of Europe’s financial assets are managed in the U.K. capital, almost twice the amount of its nearest rival, Paris. London also dominates Europe's €5.2T investment banking industry.


Daily Featured Coins

Let's wrap up the Blog with highlights from the Ft. Lauderdale Collection consignment. This individual is well versed at identifying strictly original type coins that fit nicely into GFRC inventory.

Ft. Lauderdale Collection Offerings




So ends another edition of the Blog and time for quick health walk followed by composing the President's Message owed to Gobrecht Journal editor, Bill Bugert. Then attention shifts to more shipping and price list description writing.

Your numismatic orders are always appreciated and keep morale high in the GFRC office. Thanks for being great readers and part of the GFRC community.




January 30, 2018

SOTU and Whiskey Run Collection Debut Day

Greetings and welcome to the Daily Blog on what should prove to be a busy day!

Washington DC politics will be center stage as the State of the Union address takes place this evening coupled with the pending release of the FISA report memorandum. The MEDIA media (as Tenafly suggests) will be at fever pitch in anticipation of both events including omnipresent countdown clocks. If seems that years ago, a countdown clock was appropriate for space launches as those events would captivate the nation. Now space launches are commonplace and political fighting is the new must see TV!


Seth Godin's Blog

During my 37 years in the semiconductor industry, I was blessed to have several important mentors. The most memorable was a German engineer who eventually rose to the Vice President of Operations role at Fairchild Semiconductor. Managing and guiding global semiconductor chip factories and packaging assembly sites, along with global logistics, took a special team which is where I spent much of my career before deparing Fairchild during late 2005 and leading marketing and sales for a Chinese semiconductor company. My German boss was a fanatic about proactive engineering....anticipating and solving problems before they occurred and never, ever blame someone else for a project failure. Looking in the mirror each day was paramount for a successful career. This man gave me an incredible gift....personal accountability in all that I do.

Seth Godin touches upon the same point in the following blog that addresses customer service. Remember that everyone surrounding you is a customer for your leadership, routine behaviors and innovative ideas. Think proactively and use empathy frequently.....

The other kind of customer service

Reactive customer service waits until something is broken. We leave it up to the annoyed customer to go to the trouble of finding us, contacting us, and then, in real time, advocating for themselves until we finally manage to make things good enough (we rarely make them better than the customer hoped).

Perhaps we ought to spend more time being proactive.

How many people on your team are actively advocating for the customer in advance? Guiding the process so that most disappointments won't even happen, which means we won't have to fix them...

Is there any more effective way to engage with customers than to create products that don't break their hearts?


GFRC Sales Archive Upgrading

Customers who have been using the GFRC Sales Archive have noted that images are not available for listings dating back to 2015 and 2016 timeframe. Those images are indeed on my laptop but must be uploaded and connected inside the COIN database. This is a time consuming and manual process that will take months to complete. I started the process yesterday and upgraded Liberty Seated quarter sales listings between 1863 through 1872 and included the earlier images. This project will get attention as time allows.


GFRC Consignment News

Whiskey Run Collection Consignment

I am most pleased to be showcasing the Whiskey Run Collection client gallery in today's Blog. Monday brought a long day of image processing and pricing discovery that culminated during the late evening hours. The consignor has blessed asking prices. As a result, GFRC is positioned to discuss FRoR on individual coins and should be able to load the majority to price list today but without detailed descriptions.

After writing the Blog and getting through the day's shipping, I will revisit the host of FRoR emails to ensure that each request is logged in the order received. Once the Whiskey Run offerings are on the price list, I will be contacting those with FRoR towards a purchase or pass decision.

These coins reside in four types of holders; PCGS, NGC, ANACS OWH and one piece in ICG. The lot has been assembled by a true collector who purchased coins rather than the grades on the holders. Many were purchased 10 to 15 years ago and have been part of a core collection for years. This is the first time that the consignor attempts a divestment of duplicates with many coins having stories behind them.

I hope that GFRC customers and Daily Blog readers enjoy viewing and studying this gallery.

Whiskey Run Collection Consignment - January 30, 2018









Global Financial News

Seeking Alpha headlines are sparse as we open the day. I've decided to start adding the 10 year Treasury bond year to the commodity reporting. Bond yields are expected to climb during 2018 as the Federal Reserve issues more Feds rate increases. Crude oil has dropped along with many global equities markets and is quoted at $65. Gold remains robust at $1348 while Bitcoin has found a stable trading level at $11,000. The 10 year Treasury year is at 2.7%

Strong economic growth has arrived to the Eurozone....but remember that military spending is counted in GDP numbers.

The eurozone economy finished off last year with a boom, with the bloc's GDP expanding at 2.5%, better than anticipated by economists and the European Central Bank. In a sign the vibrant pace in the euro area is set to carry on into 2018, a separate release showed regional economic confidence remaining close to a 17-year high in January.

The Saudi and Qatar silent war shows no signs of abating with Doha officials visiting Washington DC this week.

A Saudi-led economic blockade has failed to isolate Qatar, which has found ways to shield itself from outside pressure, according to Finance Minister Ali Shareef al-Emadi. "If the blockade strategy was to corner us economically, that completely failed and it will not work." Top Qatari officials are also in Washington this week for a series of meetings meant to strengthen ties between Doha and the Trump administration.

Oil exploration in the United States is ramping with Exxon Mobil planning huge investments.

Exxon Mobil plans to invest more than $50B in the U.S. over the next five years, citing the recent tax law changes and "the unique strengths" of the company. "Exxon will be investing billions of dollars to increase oil production in the Permian Basin in west Texas and New Mexico... on top of our massive build-out of operations along the Gulf Coast," said CEO Darren Woods.

The arrival of a public robot taxi fleet? Gone will be those insightful chats with taxi drivers......

Pushing toward the launch of a public robot taxi fleet later this year, Waymo (GOOG, GOOGL) has finalized an order for thousands of self-driving Chrysler Pacifica hybrid minivans. "We've moved from research and development to operations and deployment," said Waymo CEO John Krafcik. Although not stating an exact number, a company spokesperson said the order will consist of fewer than 10,000 minivans.


Daily Featured Coins

There is less than 48 hours left in January calendar month and GFRC is within $5,000 of its monthly sales forecast. How I would love to sell a few four figure coins to attain the forecast and immediately move attention to February's goal. Following are several choice original four figure Seated coins to consider for an advanced collection.




So ends another edition of the Daily Blog. Time for a health walk followed by new purchase and White Pine Collection consignment photography. Then the balance of the day will focus on loading Whiskey Run Collection offerings to the price list and fielding questions.

Thank you for stopping by on a regular basis. We are approaching the 600 milestone for typical number of hits to the Daily Blog. Have a great SOTU day!




January 29, 2018

Whiskey Run Collection and Venice Coin Show Week Arrive

Greetings as February 2018 is just around the corner!

Welcome to the Daily Blog on a quiet Monday morning. My day started early at 5:15 am with anticipation for the coming week. As the headline indicates, this week brings the rollout of the Whiskey Run Collection consignment followed by the Venice Coin and Currency show on Friday and Saturday. I've delayed the Whiskey Run Collection rollout pending CAC review results which are due today, latest tomorrow. Nested in between those events are writing the President's Message for the March 2018 Gobrecht Journal, the arrival of the latest Saw Mill Run Collection consignment and the processing/loading of the most recent White Pines Collection consignment.

On the marketing front, GFRC's new 1/4 page Coin World ad will be published as the monthly magazine is mailed to subscribers followed with an updated 1/2 page ad for the E-Gobrecht that arrives to your email inboxes late Wednesday. Last evening, the full page GFRC ad for the Gobrecht Journal was also constructed and sent along to editor Bill Bugert. This is the life of an entrepreneur, handling a host of duties while attempting to increase inventory quality and customer service experience.

Here is a smaller version of the upcoming March 2018 Gobrecht Journal ad. There are some wonderful Liberty Seated offerings featured in the ad and these will be on display for purchase at the Venice coin show. Please note the 1859-S PCGS MS64 Seated half is shown in the ad but is on FRoR at this time. This piece will be priced at $6,500 with CAC approval and $5,950 without.


Whiskey Run Collection Consignment

The rollout of the Whiskey Run Collection consignment is indeed a special GFRC event. While mostly a Liberty Seated half dollar lot, there are quality Seated dimes, Capped Bust halves and an awesome 1892-S PCGS AU55 CAC Barber half to consider. Following are two offerings that did not travel to Far Hills, NJ.

Whiskey Run Collection Consignment - Two Special Half Dollar Offering

1824 O-105 ANACS AU53 OWH                                                     1892-S PCGS AU55 CAC



GFRC Consignment News

On Sunday evening, the following raw Liberty Seated dimes were posted to the price lists. These are odds and ends pieces from recent consignments and fairly priced. 1861 Seated dimes are one of the scarest "common dates" and the following Type 2 obverse example should garner attention. The 1876-CC F-130 rusted die obverse is also a sweet piece for the die variety collector. How about the toning on the 1891 dime?

Copper Harbor and Massachusetts Collection Consignment - January 29, 2018

Several Attractive Liberty Seated Dimes



GFRC Open Set Registry

Did you know that the COIN database is the core elements in all GFRC service offerings? Yes, that is correct. Once a coin is added to the database with images and descriptions, then it can be retrieved for a host of GFRC applications including the Open Set Registry and the Sales Archives. When purchasing a coin from GFRC and participate in the Open Set Registry, then images are automatically illustrated for you. It is that easy and fun with GFRC website as your primary numismatic destination.


Global Financial News

We open another work week with a quick look at commodity prices and several Seeking Alpha headlines to stay abreast of financial news from around the world. Crude oil is flat at $66 while Gold dropped slightly to $1346.40. Bitcoin appears to have settled down into a tight trading range and is quoting at $11213.

Today's headlines have an ominous tone towards the People's Republic of China. Espionage and intellectual property theft have been an ongoing issue with China and Russia. Now there are serious efforts to confront these facts. Plus, the China central government issues are warning to mainland investors. Lots of important reading today.

National security officials in the Trump administration are looking at options where the U.S. government could take over part of the country's mobile network as a way of guarding against "dominant malicious actor" China. The report from Axios describes two options: The U.S. government pays for and builds the single network - an unprecedented nationalization of private infrastructure - or an alternative where U.S. wireless providers build their own 5G networks, which would be less commercially disruptive to the industry.

In initial disclosures about security flaws discovered in its processors, Intel notified a small group of customers, including Chinese companies like Lenovo and Alibaba, but left out the U.S. government, sources told WSJ. The decision raises concerns as it potentially could have allowed information about the chip vulnerabilities, dubbed Spectre and Meltdown, to fall into the hands of the Chinese government before being publicly divulged.

A case of China central government talking down the Shanghai market.

Chinese markets slipped into negative territory overnight after Fan Hengshan, vice secretary general of the National Development and Reform Commission, wrote an op-ed that black swan or grey rhino high-impact events were likely to take place this year. The warning from the country's top economic planner comes as the first official Belt and Road bonds were issued on the Shanghai Exchange.

President Trump is playing hard ball with the EU concerning trade. Theresa May must be smiling.....

"I've had a lot of problems with European Union, and it may morph into something very big from that standpoint, from a trade standpoint," President Trump told British broadcaster ITV. "We cannot get our product in. And yet they send their product to us - no taxes, very little taxes. It's very unfair to the U.S. And I think it will turn out to be very much to their detriment."


Daily Featured Coins

Working with consignors is one of the best parts of the GFRC business. The Copper Harbor consignor calls on a regular basis and the conversations are always a pleasure. Michigan weather reports and private conservative commentary are part of the routine along with consignments updates and incremental Liberty Seated dime purchases.

I'm on a mission to move along the balance of the Copper Harbor large cents during February as the consignor wishes to rechannel the monies into Seated dimes. Hopefully, more pieces will sell at Venice show and the balance wrapped up at Sarasota. Here is your chance to access these and please don't be shy about making a reasonable offer.

Copper Harbor Collection - Quality Copper




Another long Daily Blog edition is completed and the balance of my day can start. Thank you for checking in and reading these ongoing numismatic ramblings.

If in the west coast Florida area on Friday or Saturday, please make a point of visiting with GFRC at the Venice coin show. I will gladly share directions as not far from I-75 Jacaranda exit.




January 28, 2018

GFRC Price List Experiment - An Edsel Idea

Greetings and welcome to the Blog on a Sunday morning.

When developing a business and marketing products, one is always searching for that edge to attract customers and simplify their shopping and decision process. Some ideas are innovative and accepted with open arms while others are ineffective and may actual have an adverse impact. Employing the Daily Blog as a test platform for new ideas is a special GFRC luxury. As you can tell from today's headline, yesterday's proposed price list formatting change was DOA. The feedback was clear and united.....don't change the current format.


GFRC Price List Experiment - CAC / Non CAC Sequencing Feedback

Saturday's feedback, by far, was the largest ever received with strong opinions on the proposed changed. Eighteen friends took the time to respond. Following are highlights that captured and well expressed the consensus opinion.

Gerry, I do like the idea of separating the CAC coins from the Non-CAC coins however, it may not be in the best interest of your consigners. Although, CAC coins in general are correctly graded and in most cases original or with nice eye appeal. There has been a lot of hype about CAC coins being the only coins you should buy. This is false because there are a lot more really nice Non-CAC coins on the market or in old collections that haven't gone to CAC for a "STICKER" that are superior to CAC coins.

Gerry, I prefer the current arrangement with CAC and "other quality offerings" placed in close proximity by date. This allows me to compare what John Albanese is seeing for CAC approval to your other choice offerings on a date and mintmark basis. If I need a "CAC fix" all by itself, I can look at the CAC Box on the sale list and run the gamut from 1/2 cents thru Double eagles. Thanks for listening

Hi Gerry, Recently, a high percentage of what I'm buying has CAC approval. However, I don't support segregating CAC coins within series categories. If I want to look just at CAC coins, I go to the CAC section of your for sale list, which is arranged by denomination and easy to navigate. I also think the change would depress sales of non-CAC coins, many of which are very high quality, despite not having the sticker.

Gerry, I'm not a big fan of this change. I favor the listing by date. As you pointed out, you have many fine coins that are of comparable quality but don't happen to have CAC approval. This new approach complicates the search for all offerings of a given date. Additionally, the green bean in the Photo and Grade columns provides an adequate visual cue if one is searching for CAC listings. The new approach seams like a solution in search of a problem.

I could go on with more feedback that repeats the above points. A sincere thank you goes out to all respondents for taking the time to express your dislike for the proposed change. Matt has already removed the test format change in the Liberty Seated quarter price lists and all is back to normal.


GFRC Purchases Rare 1852 F-110b Original VG10 Seated Dime

Other than the 1839 Pie Shattered Obverse die variety, I can't think of a Liberty Seated dime die variety that brings more attention than the 1852 F-110b with huge die crack at the bottom of the date digits. This week, I purchased a raw example that grades full VG10 with all seven letters in LIBERY clear. Surfaces are 100% natural gray and never cleaned. A cud has formed at the cap along with stars 9 and 10.

Images will be taken on Monday. FRoR is available.


Venice Florida Coin & Currency Show - 8 Cases of Quality GFRC Coins

The coming week brings the Venice coin club show on February 2 and 3 with dealer setup on Thursday afternoon. I'm pleased to report that GFRC has taken a second table and will have eight cases of quality coins at this 30 table local show. The venue is only 5 minutes from my Auburn Lakes condo office and will be straightforward to access. GFRC will have its broad inventory on display and will also be aggressively buying.

Just yesterday, 8 used coin display cases arrived from Wizard Coin Supply and we are purchasing more swing arm lamps. GFRC will now have the equipment to display at a variety of Florida venues including the Sarasota Coin Expo on February 23 - 25 (three tables/10 cases) and the Dalton GA show on April 13 - 15 (corner table/7 cases).


Please Consider a GFRC Purchase....

January comes to a close this Wednesday and I would love to sell a dozen more coins towards meeting the monthly sales forecast. We are approximately $10,000 short of the forecast. Therefore I will be in a dealing mood. As a former Market and Sales head, responsible for Chinese company P&L, there is an ingrained need to achieve one's forecast else a major loss of "face." At GFRC, the issue is not as dramatic but still achieving a business forecast is important.

I will be hanging out in the GFRC office for most of the day and loading more consigned items to the price lists along with preparing the GFRC full page ad for the upcoming LSCC Gobrecht Journal plus signing the balance of the 2018 club membership cards.


LSCC 2018 Membership Update

Dale Miller, Secretary/Treasurer, issued an updated report concerning LSCC club member dues renewal for 2018. There are still 100 club members that have not paid their 2018 dues. If dues are not paid by February 15, then these individual will not receive the forthcoming Gobrecht Journal issue #131 mailed during early March. In prior years, there were extraordinary efforts to convince the non renewals to remain in the club. Personal phone calls and emails were issued by the LSCC Leadership team. For 2018, this practice will stop with club members being accountable for maintaining membership after two USPS mailed notices, one email reminder plus announcements in the LSCC E-Gobrecht and the GFRC Daily Blog.

Total members: 685
Renewed 2018 or later: 585
Expired 2017: 100

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

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


Daily Featured Coins

I could not resist.... Following are six quality coins to consider that do not have CAC approval. Several are in ANACS old white holders which immediately disqualifies them for CAC submission.

Quality Non CAC Offerings




Thank you for returning each day to the Daily Blog. Time to wrap up this edition and prepare for a morning health walk.

Again, I will be in the GFRC office for most of the day so please don't hesitate to call or email concerning a coin purchase or potential consignment. At GFRC, we are open 7 days a week and here for the collector community.




January 27, 2018

GFRC Price List Experiment - Will You Provide Feedback?

Greetings on the final weekend in January and welcome to another edition of the Daily Blog.

Let's skip the usual weather preamble as I'm in a creative mood after a good night's rest. The peace of mind results from knowing all is well in Maine, at the Raymond homestead, after the local heating company visited the home and reported that the oil furnace is performing flawlessly. No shadows or worries in the back of my mind. Even the autographying of Liberty Seated Collectors Club membership cards is moving along well. Life is good.....

Let's start the Blog with a visit to Seth Godin for a stimulating thought. There were several brief but powerful ideas to choose from and the following is consistent with a GFRC price list experiment that will be discussed afterwards. Godin makes the point that stepping back and looking at our workflows is a worthy pursuit. Optimizing, or working smarter, is indeed a bargain versus scaling up obsolete or costly processes. How I wish our politicians in Washington DC could take the following to heart.

How much is 'smarter' worth?

No new costs, no new machines, no new resources.

Just smarter.

Smarter about the process, about the effects, about planning. Smarter about leadership, about management, about measurement.

How much is smarter worth?

In my experience, smarter is almost always a bargain, something you can buy for a lot less than it's worth.


GFRC Price List Experiment - CAC / Non CAC Sequencing

At GFRC, I love handling top quality coins due to years of being a passionate collector. There is a sense of joy when viewing a gorgeous AU or mint state coin with pretty toning and cartwheel luster. Circulated type with the classic gun metal gray patina or the circulated cameo contrasts are also favorites. CAC approved coins typically, but not all, fall into this fun to handle category. If I love handling these coins, then there is a good chance that customers will too. Unfortunately, CAC approved coins are a small percentage of the total surviving populations and many non CAC approved coins are just as worthy of being loved by a collector.

An idea arrived on Thursday to sequence the GFRC price lists into two groups; CAC approved offerings first in date sequence followed by non CAC approved coins, also in date sequence. There are pros and cons to re-organizing the price lists in this manner. Some customer wish to directly compare CAC and non CAC approved coins, for the same date, and check the asking price and perceived value of each offering. This is logical and valid. Other customers may wish to focus more on CAC approved coins and not scroll through the entire price list to cull those out. Others could use the Dynamic Price List application to retrieve the CAC approved coins. Lots of options and personal preferences are involved.

I asked Matt to modify the two Liberty Seated quarter price lists into CAC approved first followed by non CAC coins second. Could you please have a look and provide feedback on your preference? Every piece of feedback is welcomed and appreciated. The feedback will be presented in tomorrow morning's Blog and a decision will be made as to shelving this idea or move forward with more price list updates.

Following are the two Liberty Seated quarter price list links. You don't have to leave the Blog to have a look. Seated 25c 1838 - 1855   Seated 25c 1856 - 1891

Thanks for your time in considering and writing commentary.


GFRC New Purchases

For those of you who carefully monitor the GFRC price list for new inventory, there should be a growing awareness that more higher end coins are being added. GFRC is in the midst of a slow but carefully managed process to move towards the higher end of the numismatic market but still focused on top quality coins. One of those new purchases is a special 1847 Liberty Seated dollar per below. Locating strictly original and unmolested Seated dollars takes patience and, when found, the appreciation for lightly mirrored fields and original luster is the reward. One must study a few of these type of dollars to gain a true appreciation for the appearance of truly original dollars. In today's market, TPG holders are cluttered with marginal quality coins that are not original or very appealing least to this trained eye. So when I get excited about a Seated dollar, you may want to pay special attention.

GFRC New Purchase

Choice Original 1847 NGC AU58 CAC Seated Dollar


GFRC Consignment News

Having a consignment backlog is a good thing and it definitely keeps me out of trouble! Imagine the need to hang out by the Auburn Lakes Condo Association pool and risk the chance of a sunburn?

Upstate New York Collection

Today's featured consignment is from the Upstate New York Collection. As mentioned before, this individual is a fan of beautifully toned type coins and is approaching the point of needing to divest his collection. It is a painful process as he slowly says good bye to many of his favorite pieces. On the otherhand, the GFRC community has an opportunity to acquire these lovely piece at fair market prices.

Below are his new offerings. If building a Seated half dime date and mintmark set, then please consider the 1856 specimen graded PCGS MS64 will be difficult to find a more appealing example. The 1838 large stars F-101c dime is terminal die state for the vertically cracked reverse and already spoken for. Soft pastel luster/coloring is the highlight of the 1827 PCGS EF40 CAC capped bust half with the 1829 PCGS EF45 example essentially being a twin. The 1841 NGC AU58 Seated half is a serious coin as the date is so underrated. Then there is the 1843 WB-11 with massive reverse die cracks in ANACS AU55 holder.

These new offerings will be reaching the price list this afternoon, so please hurry as many will be sold immediately after this Blog preview.

Upstate New York Collection Consignment - January 27, 2018





Daily Featured Coins

An email arrived from the Upstate New York Collection consignor on Friday. He is due for a second knee replacement plus another surgery and would like to sell a few coins to help fund medical expenses. I'm sure the some coins from the above consignment will immediately sell, but I also need to draw your attention to other consignment pieces on the price lists. Folks, this is the real world, where quality coins are a store of wealth and do need to be sold to extract those monies for other life needs. Let's help this individual out and consider a potential purchase of his coins. I will do the same for adding to GFRC inventory. Offers are requested and welcomed.

Upstate New York Collection Selections

Offers Requested




That is a wrap for a Saturday morning. Time for a quick shower as Dan White is dropping by early with several new purchases that will be consigned. Then it will be time to pack and ship a few orders. Afternoon time brings attention to smaller consignments and the latest White Pine Collection consignment.

Wishing everyone a great day and do consider a GFRC purchase on a weekend without NFL football.




January 26, 2018

2018 FUN Show Presentation - Underrated Liberty Seated Quarters

Greetings once again and welcome to the Daily Blog.

Today's edition will focus on Liberty Seated quarters based on a sales event that took place yesterday. Bill visited the GFRC tables at the Ft. Myers coin show last weekend. Amazingly, I had previously met Bill at the Denver Coin Expo several years ago.. Come to find out, Bill had just moved from Colorado to the Ft. Myers area. We chatted for awhile, viewed several Liberty Seated half dollar proof strikes followed by Bill promising to catch up with GFRC this week to purchase those proofs. Indeed he did on Thursday! While discussing the transaction, Bill asked for a copy of my Tampa FUN show presentation as he heard it was on Liberty Seated quarters and he wished to learn more. Sure I said and quickly saved the powerpoint file into a PDF and emailed to Bill.

On Wednesday, two quality Seated quarters arrived on consignment from the Iowa Collection. The Iowa Collection is currently the top ranked Liberty Seated Quarter Basic Set in both regular and CAC Only Open Set Registry and continues to be actively upgraded. Armed with a choice original 1849 Compass Point PCGS EF45 CAC and 1859-S PCGS VF30 duplicate quarters, then why not turn today's Daily Blog into a Liberty Seated quarter issue? This I have done at 5:30 am with hot coffee and hopes for further divine intervention.....


2018 Tampa FUN Show Presentation - Liberty Seated Quarter Dollars: An Underrated Series and Denomination

Collecting Liberty Seated quarters by date and mintmark takes some true grit and considerable persistence. This 106 piece set is achievable with the early Carson City dates requiring financial reserves. The core issue with attempting a Seated quarter set is locating choice examples. This was an important theme in the FUN show presentation whereby I used CAC population reports as a proxy for the number of choice examples extant. Preparing the presentation was an eye opening exercise, even for this seasoned numismatist, and increased my respect for the series.

I can't stress enough that better date Liberty Seated quarters in choice original CAC approved holders are presently underrated and a long term bargain. You can learn much more by clicking on the following presentation title slide to access the entire presentation as PDF file. Credit also goes out to LSCC Vice President, Len Augsburger, for preparing a portion of the presentation as course material employed for ANA Summer Seminar. I took the course presentation, added new content and tuned specifically for 2018 FUN show.

2018 Tampa FUN Show Presentation


GFRC Consignment News

Iowa Collection Consignment

Each day, Mack the Mailman brings more consignments. Wednesday brought three consignment arrivals including a two piece lot from the Iowa Collection. Following are those previously mentioned pieces that deserve serious consideration if working on a date and mintmark set. Look closely at the 1849 PCGS EF45 CAC quarter and the complete strike. Mintage for the 1859-S date is only 80,000 with 8 graded at PCGS. These will be priced later today and on the price list by evening hours.

Iowa Collection Consignment - January 26, 2018

Two Quality Liberty Seated Quarters



Daily Blog Reader Feedback

Another email arrived with feedback concerning Seth Godin's cautious words on social media and Tenafly's tonque in cheek comments. The Ft. Lauderdale consignor is a Millennial and provides an insightful perspective that is worth considering. His first point explains why I do not visit the PCGS message board. The second point also pertains to the numismatic community at large for dealers and collectors. We are a small community with few secrets.

Interesting perspective from Seth on social media. Having grown up on the internet I've definitely gotten lessons in different forms of social media over the years:

1. Overuse can breed toxicity. To use the PCGS forums as an example, I find many users on there get into arguments about things that don't really make a huge difference in the long run, because they spend so much time there. Many otherwise smart and helpful people can end up being difficult. Barriers for rude behavior are also lower than in real life.

2. Being able to discard or obscure identity leads to the breaking down of social niceties. You see this in city life as well in the "real world." In a small town, if you act like a jerk everyone will know it. In the city, just move on to a new group of friends...

3. No face to face conversation. We definitely lose nuance and things can easily be misinterpreted.

That being said, these venues can be valuable. I read but don't post in several online venues. I've learned a lot, especially on "guess the grade" threads and the like. Social media can be an important tool, but like all tools must be used correctly!


Global Financial News

Let's quickly look at commodity prices to kick off Seeking Alpha headines. Crude oil is approximately $66/bbl while gold is being quoted near $1355. Bitcoin is down $500 from yesterday to $10457. Spot gold is back to mid 2016 highs and a move above $1370 would be a substantial breakout. Below is 5 year Kitco technical chart which illustrates the $1370 barrier.

United States 3% annual GDP growth appears possible when Q4 GDP estimate is announced later today. Who would have thought this possible just two years ago?

The U.S. economy hasn't posted three consecutive quarters of at least 3% growth since early 2005, but that may change today as the Commerce Department publishes its first Q4 GDP estimate at 8:30 a.m. Overall growth for the year is still expected to come in at around 2.3% - because of a sluggish first quarter - but spurred by a weak dollar, tax cuts, and consumer and business spending, the Trump administration could reach its 3% annual growth target in 2018.

Japan is emerging as another trouble spot for Bitcoin trading.

Cryptocurrencies slid overnight after one of Japan's most active Bitcoin venues - Coincheck - halted client withdrawals, spooking investors in a country that's still wary four years after the collapse of Mt. Gox. "Traders are very sensitive to any news involving the big exchanges," said Peter Sin, co-head of the digital currency sub-committee at ACCESS. "This will accelerate price declines."

Be wary of this next headline. China regulation is a control instrument by Beijing central government.

China is considering a merger of its banking and insurance regulators as it attempts to counter financial risks in the world's second-largest economy. The decision could be announced after the National People’s Congress begins its annual session on March 5, Bloomberg reports. Alternative plans that have been discussed include creating a "super-regulator" that also brings into its fold the central bank and stock market watchdog.


Daily Featured Coins

Maintaining the underrated Liberty Seated quarter theme, following are six choice quarters that are worthy of consideration for an advanced date and mintmark set.

Choice Liberty Seated Quarters in GFRC Inventory




This has been a long Blog edition and glad to have it completed. Time to format more consignment images towards incremental client galleries by end of day.

Please consider a purchase for your numismatic hobby and help other collectors sell their duplicates. GFRC community trading relies on individual collectors making upgrades or pursuing new collecting objectives.

I will be back tomorrow with more ramblings.




January 25, 2018

GFRC Launches Coin World e-Newsletter Marketing

Greetings and welcome to the Daily Blog on a peaceful Thursday morning. Thanks for stopping by.

My day started early, actually at 5:30am, due to the growing consignment backlog and needing to sign hundreds of Liberty Seated Collector Club membership cards during free moments. To be accurate, 700 cards must be signed. My strategy is to sign about 50 at a time as the signature becomes unreadable after that amount.

Wednesday also brought the wrap up of Coin World e-newsletter marketing campaign with Brenda Wyen. The Coin World design staff does outstanding work towards translating a concept to eye catching graphic. Here is the new GFRC banner that will be appearing in Coin World's e-newsletters.

Consignors have placed substantial trust in GFRC to market and sell their coins. Therefore the "huge" GFRC staff is working overtime to deliver results. OK, the huge part is a stretch but not the overtime.....

Please consider a GFRC purchase as sales have been atypically quiet this week.... I know, I jinxed GFRC by making reference to Tom Brady and the Patriots in Monday's Blog.


Daily Blog Reader Feedback

I love corresponding with the Tenafly Collection consignor. He attended the 2017 ANA Summer Seminar class and definitely added some New Jersey color to the event. After posting Seth Godin's words on social media, in yesterday's Blog, Tenafly immediately responded with his tongue in cheek perspective and also forwarded an image to compliment my Herb Greene photo collection from the late 1960s San Francisco music scene.

Good morning Gerry,

Hope all's well there; you're back to the James Brown of numismatics. Here's a pic of my Jefferson Airplane poster just like the cover of Surrealistic Pillow. Jorma Kaukonen is an underrated guitar hero as well as with Marty Balin, who could actually sing. I love your office pics...

My take on social media: 1) I have better things to do (usually); 2) What did all of those people do before social media hit the scene?; 3) There's better ways to waste one's time, and 4) I don't want to see photos of people I don't even know doing things that are usually unimportant. The only thing worse is the MEDIA media. Now that's real brain numbing...

It's quite an addiction, right up there with the opiates and thermonuclear bombs and bad haircuts. Used to be sticking pennies in the Whitman folder was addicting in a passive way. At least I (along with many others) got some joy out of it and learned so much. And I'm still a collector after all these years! Social media will go the way of the Pony Express, cryptocurrencies and all the other creative destructions.


GFRC New Purchases

The office is a beehive of activity as consignments and new purchases keep arriving. Yesterday's arrivals include great new consignments from Upstate New York, White Pine and Iowa Collections. Tuesday also brought the arrival of these four new purchases! I love the 1835 Classic Head half cent graded PCGS MS63BN and you will too! The 1889 Liberty Seated quarter offers old time satiny luster and resides in old blue label PCGS MS65 holder. How about a crusty original 1854-O half graded NGC EF45 CAC? We close out the lot with an important 1866-S No Motto half graded PCGS VF30 CAC, also in old PCGS blue label holder.

GFRC New Purchases




GFRC Consignment News

We enjoyed clear blue skies and bright sunshine yesterday in central west coast Florida. The conditions were perfect for photographing the Bradenton Estate PCGS Rattler encased coins that just returned with CAC approval. There is a bit of head scratching going on as I thought the 1912-D Barber PCGS MS63 and 1894-O Morgan PCGS MS62 would go CAC Gold. These two pieces will not last long at the next coin show that GFRC attends. The crack out dealers will be all over these at current asking prices.

Bradenton Estate Consignment - PCGS Rattlers, CAC Green

Fresh to Market from West Coast Florida Bank Box





Global Financial News

Commodities are moving higher to start the day as U.S. Treasury Secretary Steven Mnuchin remarks, concerning a desired weaker dollar, are having an immediate impact. Crude oil, which is priced in US dollars, jumps up to $66.10 while gold opens the day at $1359. Bitcoin continues to trade at the $11,000 level.

Seeking Alpha headlines are important reading this morning. We open with Mnuchin's comments on the U.S. dollar.

The dollar index stretched overnight losses to plumb 88.89, marking three-year lows, after U.S. Treasury Secretary Steven Mnuchin suggested a weak greenback would be good for the U.S. That's a departure from decades of traditional U.S. policy, though Mnuchin clarified that the U.S. administration was not concerned about the level of the dollar in the short term. Ahead of the ECB's policy decision today, the euro is heading in the opposite direction, extending its overnight rally to $1.2428, its strongest level since December 2014.

Saudi Arabia's energy minister is trying to downplay the impact of North America shale oil on global oil prices.

Taking a swipe at the International Energy Agency, Saudi Energy Minister Khalid Al-Falih accused the body of overhyping the impact of U.S. shale growth on the oil market. "I was not disputing the amazing revolution of shale. [But] in the overall global supply demand picture it's not going to wreck the train. That's the core job of the IEA, not to take it out of context." .

I'm with the Trump administration on tightening foreign investment from Chinese companies. There is too much risk here based on Beijing central government double standards.

The Trump administration supports bipartisan bills in Congress to toughen U.S. foreign investment rules amid growing concern about Chinese efforts to buy U.S. high-tech companies, the White House said in a statement. The legislation would expand CFIUS' reach to allow it to review, and potentially reject, smaller investments and add new national security factors for the committee to consider.

South Korea immediately blinks on appliance prices after the Trump administration threatens steep import taxes.

That didn't take long. LG Electronics announced that prices on its washing machines are going up due to President Trump's decision to implement steep taxes on the South Korean company's appliances. Consumers should be prepared for prices to go up by 15% to 20%, said Dinesh Kithany, an appliances analyst with IHS Markit. That could translate to washing machines that are $70 to $100 more expensive.


Wrapping Up the Blog

Ok, let's end the Blog here. No need for Daily Featured Coins module as window dressing as today's Blog has loads of great new coins and images.

Again, please consider a purchase as consignors are hoping to sell their coins towards accumulating Trading Desk credit.

Have a great day! I'm off to the packing and shipping warehouse..... See you tomorrow at the Daily Blog!




January 24, 2018

Quality Consignments Pouring In!

Greetings and welcome to the Blog on a Wednesday morning; your daily patronage is sincerely appreciated.

Let's open today's edition with a piece by Seth Godin. As many of you have surmised, I'm not a big fan of social media or message boards. If asked why, I struggled to explain the reasoning but fundamentally knew that large forums were not an appealing place to spend precious time. This morning, Seth Godin offers an explanation that captures my trepidations and lack of enthusiam for social media. You would think that a person who is a champion for numismatics would immediately gravitate to message boards.....but that is not the case and here is a piece that explains why. Godin hits the nail in the head when mentioning oppositional trolls.

Never smooth enough--a modern addiction

Once our needs our met, our instinct is to invent new ones, to find a fuel to continually move things forward, to bring that propulsive energy back.

Social media makes it easy to be both dissatisfied and to have a mission at the same time: Make everyone happy.

Every single critic silenced. Every customer delighted. Every prospect interested.

Sort of like your footprint in social media. It's imperfectible. There is someone, right now, who's miffed at you. Someone who misunderstands you. Someone who used to work with you who doesn't any more, or someone who has the wrong impression of you and won't even give you a chance. Not to mention the trolls, the ones who merely seek oppositional positions.

It's imperfectible.

For every person who wants you to have bigger portions, there is someone who says the portions are too big. For every person who says your writing is too personal, there's someone who wants it to be more personal...

Seeking a perfect sphere might be a hobby, but if it's not giving you joy, it's a lousy way to live. It's an addiction, not a useful tool.

People have been talking about you behind your back ever since fifth grade. Now, of course, you can eavesdrop whenever you choose. Don't.

Turn it off. Walk away. Accept the lack of perfect.

Better to make something important instead.


GFRC Setting Up at Venice Florida Coin Show - February 2-3, 2018

I'm pleased to announce that GFRC will have a table at the Venice, Florida coin show on February 2 and 3 at the United Church of Christ, 620 Shamrock Blvd. Though a small 30 table coin show, the event will be open for two days and is only 5 minutes driving time from the GFRC office. Dan and I will be manning a single table with four cases. We will have substantial inventory behind the case in double row boxes rather than taking 2-3 tables and dealing with the showcase requirements. This is an attempt at a new operating mode which allows GFRC inventory to be brought to a small show and facilites some aged consignment wholesale on the bourse. More will be shared early next week.


GFRC Consignment News

As today's headline indicates, consignments are pouring in! The challenge is maintaining a steady work flow to ensure that every consignment receives the same quality photography, Daily Blog marketing and is promptly loaded on the price lists. So far, so good during 2018 as the workflow process has been refined including immediate CAC submissions for certain consignments; the new Whiskey Run consignment, for example.

Ft. Lauderdale Collection Consignment

I'm pleased to be showcasing two quality consignment this morning. The first is from the Ft. Lauderdale Collection. This collector has a keen eye for originality and enjoys pursuing a broad range of type coins for his numismatic holdings. Ft. Lauderdale consignments are typically moderately priced collector coins and popular within the GFRC community. Below are seven new offerings worthy of special attention. The 1831 Small Letters Capped Bust quarter resides in PCGS MS63 holder with satiny cartwheel luster. The 1916-D Barber quarter was very difficult to photograph due to spectacular mint frost and obverse cartwheel luster along with gorgeous rose toning. The luster simply overwhelmed my old Nikon camera. Thought a common date, the 1861 Seated half, conservatively graded PCGS AU55 with CAC approval, is a crusty gem with hammered strike. This one is an immediate JUST BUY IT NOW recommendation. The 1847 Seated dollar is nice and original too!

Ft. Lauderdale Collection Consigment - January 24, 2018

An Eclectic Mix of Quality Type Coins




AuburnNY Accordian Collection Consignment

Next in the GFRC consignment showcase is a new lot from the AuburnNY Accordian Collection. This individual has a passion for Liberty Seated dime and is slowly divesting better dates and important die varieties. Today's consignment features four Civil War era Philadelphia strikes (1863, 1864, 1865, 1867) that are missing in most date and mintmark collections. There is also a strictly original 1885-S graded PCGS F12 that is another challenging date for date and mintmark set collectors. At this time, the 1864 and 1867 dimes have been submitted to CAC with a verdict due by next Tuesday. Also in the lot is an 1866 Philadelphia strike love token, previously mounted on a stick pin, and a high grade 1861 C-101 contemporary counterfeit. The 1866 love token retains original gray patina.

AuburnNY Accordian Collection Consigment - January 24, 2018

Difficult Civil War Dates & 1885-S Key Date





Saw Mill Run Collection Consignment Announcement

The Saw Mill Run Collection is a mainstay at GFRC. This individual has amassed a substantial collection of CAC quality Liberty Seated quarters and is slowly releasing some pieces to help stimulate interest in the series. We are pleased to announce the forthcoming lot contents that will be arriving by the weekend. First Right of Refusal (FRoR) is in order to gain access to these great collector grade pieces.

Seated 25c: 1841-O Br 1-B PCGS VF20; 1841-O Br 5-F PCGS VF25; 1842-O Br 1-B PCGS VF25 CAC; 1843 Br 2-C Lightning Bolt LDS PCGS AU53 CAC; 1844-O Br 3-E PCGS VF35 CAC; 1847 PCGS F15 CAC; 1854-O PCGS VF30 CAC; 1856-S Br 1-B PCGS VF30

Global Financial News

We open today's look into global financial news with a review of commodity prices. Gold made an important upward move, during the overnight hours, and is currently quoting at $1352. Crude oil has also inched up and is closing in on $65/bbl. Bitcoin continues to struggle and has dipped below the $11,000 mark.

Why did spot gold prices move overnight? Our first Seeking Alpha headline provides a clue. When Treasury Secretary, Steve Mnuchin, says he wants a weaker dollar, then we know he is speaking directly for President Trump in preparation for the Davos financial love fest. A weaker U.S. dollar is bullish for exports and also for gold prices.

"I'm going to Davos. We're going to be talking about investing in the United States again, for people to come and spend their money in the good ol' USA," President Trump told reporters. Building on the statement, Treasury Secretary Steve Mnuchin said the U.S. is open for business, with a commitment to growth of 3% or higher, and welcomed a weaker dollar, saying it would benefit the country.

Jerome Powell takes over as the new Federal Reserve chair and will be leading a tightening of money supply as the U.S. economy fires on all cylinders.

Jerome Powell will take the helm as the 16th chairman of the Federal Reserve after the Senate confirmed him for the position on Tuesday. The change comes amid a critical time for the Fed, which is normalizing policy after years of extraordinary accommodation. Powell will take over for Janet Yellen, who becomes the first Fed chair since the late 1970s not to serve at least two terms.

Another nail in the Bitcoin coffin? First online payment platform punts.....

Without giving a potential timeline, Nasdaq said it was "investigating the idea of cryptocurrency futures," following similar launches by rivals CBOE and CME Group. Meanwhile, four years after becoming the first major online payments platform to accept bitcoin, Stripe is ditching the idea. By the time the "transaction is confirmed," the price of bitcoin could have changed.

And finally, the Trans-Pacific Partnership (TPP) is moving forward without the United States.

Negotiators from 11 Pacific Rim nations have agreed on a new Trans-Pacific Partnership amid an arrangement on autos with Japan and the suspension of intellectual property provisions that had been a concern for Canada. The deal will likely be signed in Chile on March 8. Without the U.S., the combined gross domestic product of the agreement amounts to $12.6T, or 15.8% of world GDP.


Daily Featured Coins

With spot gold now over $1350/oz, I'm hoping that collectors will see $20 United States double eagles as a combination numismatic and bullion play. Prices for Liberty and St. Gauden double eagles have been weak during the past year and there is plenty of upside potential at current levels. Following is $20 gold, in GFRC inventory, that is attractively priced.

United States $20 Double Eagles




Ok, time for a shower and back to the packing and shipping department. Venice weather is forecast to be bright and sunny and perfect for catching up on photography. I will get the health walk in during later afternoon hours.

Therfore, I will be in the office through 4:00pm and if considering a purchase, then please give me a call or send an email inquiry. The GFRC credit card acceptance system is working again and please don't hesitate to use that form of payment. I'm here to sell coins.....

Thanks for stopping in and wishing every reader a great day.