The Daily Blog

 

July 26, 2024

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Ends Tomorrow

Oregon Beaver Consignment Arrives

and

Chicago ANA Auctions Lot Viewing Handouts Being Printed

 

 

Greetings and welcome to the Daily Blog on Friday morning. We are pleased that you could take the time to visit.

My goodness, the days a just flying by given the ongoing GFRC workload and preparations for the upcoming Chicago ANA. In just a few days, the month of August will be upon us.

Yesterday brought an official notice that both Diane and I have been summoned for traverse juror duty during the month of September. So much for taking some time off during my favorite month of the year to spend time outdoors given this new requirement on our time. Hopefully, we will not be selected for a jury.

As I'm typing, the wild turkey family (a tom with two hens and eleven poults) just strolled through the driveway. This family has made themselves at home on our property. As long as they stay away from my newly planted grass surrounding the gazebo, all is fine.

Last evening brought the first relaxation session in the gazebo rather than going back to the office after dinner. There I sat on an upside down 5 gallon pail as a chair listening to some favorite music on a Bose music box until dusk set in and the solar LED lights come on. Locating outdoor furniture is high on the priority list with a potential purchase at Lowe's being contemplated.

OK, let's get to numismatics and the GFRC business....

 

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Ends Tomorrow

We with an apology for the constant reminding that the 1861-O Seated half dollar and J.W.Scott Restrike auction sale is in progress and closes tomorrow evening at 9:00 PM. I'm expecting a strong finale as most collectors have decided to wait until today and Saturday to make their bidding moves. Good luck to everyone who hopes to secure at least one of these important lots.

 

Oregon Beaver Consignment Arrives

Thursday brought the arrival of a fresh Oregon Beaver consignment with the majority of the lots being U.S. $2.5 gold with CAC approval. GFRC continues to move up the ladder with our long term consignor as this shipment contains some very attractive offerings. Though the 1846 Seated dollar is not CAC approved, the fields are partially mirrored and essentially unabraded. This is a strictly original example and will be a strong addition to the price list. The $2.5 gold speaks for itself. Following is a group photo of the new arrivals. First Right of Refusals are welcomed.

 

Chicago ANA Auctions Lot Viewing Handouts Being Printed

Nearly all of Thursday was spent constructing the GFRC Online Auctions handout for the Gerry Fortin and Newtown Liberty Seated coinage collections that will be on display at the Chicago ANA. The handout was constructed in three sections. First is the Gerry Fortin Liberty Seated Dime collection inventory list. Second is the same for the Newtown Liberty Seated Half Dollar collection. The third piece was the front and back handout cover as a modification of a typical GFRC auction catalog. At 2:00 PM, those three pieces were doubled checked and then loaded onto a USB stick followed by driving to the Staples print shop in Windham. Jennifer was very helpful and is building the first prototype that I will review this afternoon. Once approved, we will be printing 30+ handouts for those that conduct auction viewing at GFRC's Table #431 in the UltraPremium section of the bourse.

I've also ordered a 24"x30" printed banner that will be hung from the cross-pole behind our booth as yet another aspect of our marketing campaign.

 

Global Financial News

Tech stocks continue their slide on Thursday with the S&P 500 closing at 5,399. Silver is no longer shiny and has slipped to $27.73 while gold is still holding it gains at $2374/oz.

The 10 Year U.S. treasury bond yield has inched up to 4.23%.

Morning market futures are pointing to an oversold rally as the S&P is expected to open with a 0.8% gain at 9:30 AM. The high tech sector has been badly beaten up this week and hopefully the futures are indicative of the day's trading sentiment.

 

What is Gerry Up To Today?

The response to that question is yet another non-stop busy day well into the dinner hour.

We start with morning shipping followed by photographing the recently arrived consignments. After lunch, I'm returning to Staples to approve the prototype Chicago ANA auction handout which enables the full job to be printed. Friday afternoon is not a good time to travel to/from Windham as RT 302 is jammed with seasonal drivers heading up to their summer homes in the Sebago Lakes region area but there is no choice in the matter. Preparations must get done, right? Once back at the homestead, I will be processing images until the dinner hour. Then comes another drive to Gray to meet a consignor who is vacationing on the Maine coast and wishes to drop off a consignment in person.

If you are worn out just reading about my day, then understand that the life of a coin dealer is not all glamour and fun. It is more about execution and providing premium service to clients.

Well, that wraps up today's Blog edition. I'm heading down to the back acreage trails to secure a health walk before a shower and time in the shipping department.

Thanks again for the visit. Be well!

 

 

 

July 25, 2024

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Update

and

Gerry Fortin and Newtown Seated Collections Fully Posted

 

Greetings on a Thursday morning and welcome to yet another Daily Blog edition. Thank you for stopping by.

Today's ramblings will be on the brief side and mostly updates. Wednesday saw another long office day along with an oil furnace cleaning. The latter brought a discovered of dead bats in our furnace exhaust vent and the revelation that the chimney cap was improperly placed after last year's chimney sweep cleaning. As a home owner, one has to learn the many issues that can appear and the need to watch over contractors to ensure that they execute their roles properly. Now, we must call the chimney sweep person to return and properly seat the chimney cap.

Let's go to the numismatic items....

 

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Update

The current GFRC auction is moving along with 2.5 days remaining before the usual Saturday evening closing finale.

At the moment, 6 of the 20 lots have secured bids. All bids are for 1861-O die pairings with the W-2, W-4, W-5, W-7, W-10, and W-13 heading to new homes. Which new home will be decided come Saturday at 9:00 PM.

 

Gerry Fortin and Newtown Seated Collections Fully Posted

I'm pleased to report that the entire Gerry Fortin Liberty Seated Dime and Newtown Liberty Seated Half Dollar Collection lots have been posted to the online auction catalog. Populating incremental images is the next step along with securing Staples printed handouts for auction lot viewing at the Chicago ANA. I hope that you can take the time to scroll through these collections for gaining a sense of the magnitude of the offerings and preparing accordingly. Roughly $2,500,000 in high end Seated coinage will be sold via three auction sessions during the first half of 2025. At least that is the current plan as the volatility of the forthcoming election season is being closing watched for more surprises.

For giggles, I did a quick tally of the holder generations for the Gerry Fortin Seated Dime collection as a testament to the era when these lots were certified and the associated state of gradeflation or lack there of. The holder generations and serial numbers tell a compelling story. The majority of the coins in my personal collection were certified prior to 2011 and I would venture that most of the Gen 4.4 holdered coins were secured closer to 2005 than 2011. My claims that I've not actively attempted to "upgrade" these Seated dimes is obviously validated by the below table. The 31 lots certified between 2015 and 2024 are upgrades including a nice group of Tom Bender pieces.

PCGS Holders

Gen 1.2 (1986-989) Rattler -1

Gen 2.1 (1989) OGH - 1

Gen 3.0 (1990-1993) OGH - 3

Gen 3.1 (1993-1998) OGH - 9

Gen 4.0 (1998-2002) - 8

Gen 4.1 (2002-2004) - 25

Gen 4.2 (2004-2005) -2

Gen 4.3 (2005) - 5

Gen 4.4 (2005-2011) - 31

Gen 4.5 (2011-2013) - 2

Gen 4.6 (2012-2014) - 3

Gen 5.0 (2015) - 3

Gen 6.0 (2015-2020) - 14

Gen 6.1 (2020-2024) - 15

NGC Holders

Gen 7 (1997-2000) - 2

Gen 14 (2002-2003) - 1

Post 2007 - 3

PCGS Serial Numbers

Leading "0" - 22

Seven Digits - 20

Leading "1" - 13

The point being made is that my Seated dimes have not been resubmitted for upgrades attempts or (+) designations and remain in their original holders. The current trend is to crack out and resubmit or attempt a reconsideration towards higher grades and price points. I'm not a fan of this process and will let the coins speak for themselves at auction lots viewing. However, the reserves will be set based on what I believe these dimes are worth in today's market regardless of the grade on the label. Let's always remember that we are purchasing coins and not a label which has been my collecting philosophy since 1990.

 

Global Financial News

Ugly and "No place to hide" adequately covers the state of the equity markets and commodities since the resignation of Joe Biden from the U.S. Presidential race and the naming of Kamala Harris as his replacement. Ms. Harris is an acknowledged socialist with fears of where the country might be heading if elected. Yes, Ms. Harris has a Senate voting record that is consistent with and a tad more left than Bernie Sanders. Then there are recession fears that continue to grow as more economic data rolls in and is actually absorbed and digested rather than large funds continuing the high technology momentum trade that we've experienced during the second quarter. Seeking Alpha attempts to explain the sell-off with this morning summary.

Stocks only go up. Until they don't. The NASDAQ yesterday suffered its worst day of 2024, with the tech-heavy index sliding more than 3% for the first time in more than 400 trading days. The plunge wiped out hundreds of billions of dollars in market cap from the Magnificent Seven as concerns abound for Big Tech earnings that have propelled the broader market to record highs. A rotation has also made its way into investing sentiment in recent weeks, while other worries center around the broader economy.

Snapshot: The most immediate catalyst for the selloff was a moderate earnings report from Alphabet and a disappointing earnings call from tech darling Tesla. Spooking investors were shifting tones on the promise of artificial intelligence - for the time being - with Google not reporting any revolutionary profits from its new suite of products and Elon Musk continuing to kick his robotaxi vision down the road. The AI trade has helped support the rally since late 2022, but investors are increasingly demanding that hefty investments in the technology will produce a return, or something can at least be materially seen nearly two years after the release of ChatGPT.

Tech is not the only sector that's experiencing a crisis of confidence as earnings season gets underway.. On the macro scale, wage growth and the labor market are cooling, with the unemployment rate recently reaching 4.1% from 3.4% a year ago. U.S. GDP growth data will come later today, while the Fed's favorite inflation gauge will be released tomorrow, providing more clues on the future of monetary policy and the interest rate environment (the next FOMC meeting takes place next week).

SA commentary: "Is this just a random dip, or the beginning of a deeper correction? For most investors, it really doesn't matter, as long as the bull market eventually resumes," writes SA analyst Damir Tokic. "Technically, the S&P500 is in the minor dip territory. What happens next depends on the fundamentals. Alphabet earnings don't give us evidence of the bubble burst yet. We will have to wait for the Nvidia earnings in late August to get confirmation whether we are in the process of Gen AI bubble burst. In addition, the economic data will be important. If the disinflationary trend continues, while the labor market does not weaken further, the Fed could cut in September and this could provide some support to value stocks."

On a positive note, a proven method for reducing demand and inflation is to "whack" the IRA accounts of the citizenry.

The S&P 500 dropped 2.3% on Wednesday and stands at 5,427. Gold is down to $2375/oz (a safe haven in action) while silver fell to $27.68. WTI crude also dropped to $76.62/bbl.

Morning market futures are flat which means there is no oversold rally to be had.

Not moving is the 10 Year bond yield which is flat at 4.22%

 

What is Gerry Up To Today?

The first priority is building the GFRC Online Auctions handouts for both the Newtown and Gerry Fortin Collection sales that will be available at the Chicago ANA. Afterwards, I will be processing a small Seated dime consignment where photography is available. Today's Maine weather will not be conducive for photography, therefore incremental auction lot image postings will occur when the sun returns tomorrow. I will certainly be spending a few hours this afternoon cleaning the new gazebo with a TSP solution while Diane is shopping for outdoor furniture.

Please consider a numismatic purchase to help consignors secure funds for upgrading their collections. It is key to keep that cycle moving forward.

That is it for today's Blog edition.

We appreciate the visit.

Be well!

 

 

 

July 24, 2024

GFRC-Lite attending Annandale Va Show This Weekend

Gerry Fortin Seated Dime Collection Posting to Auction Catalog

and

A New Gazebo in the Backyard

 

Greetings and welcome to the Daily Blog on a wet Wednesday here in southern Maine. Thank you so much for the continued visits.

There are a fair number of topics for today's edition, so let's get started after sharing a "Gem Rated" blogpost from Seth Godin. I can attest to the premise that operating Johnny2 or working as a coin dealer is a momentum activity. In the old day, we would simply describe this situation as practice makes perfect.

Seth Godin Blogpost - The two bicycle errors

Momentum activities like public speaking, board sports and leadership all share an attribute with riding a bicycle: It gets easier when you get good at it.

The first error we often make is believing that someone (even us) will never be good at riding a bike, because riding a bike is so difficult. When we’re not good at it, it’s obvious to everyone.

The second error is coming to the conclusion that people who are good at it are talented, born with the ability to do it. They’re not, they have simply earned a skill that translates into momentum.

There’s a difference between, “This person is a terrible public speaker,” and “this person will never be good at public speaking.”

And there’s a difference between, “They are a great leader,” and “they were born to lead.”

The thing about momentum activities is that we notice them only twice: when people are terrible at them, and when they’re good at it. That includes the person you see in the mirror.

 

GFRC-Lite attending Annandale VA Show This Weekend

Upon opening my email Inbox this morning, the following notice from Rich Hundertmark was discovered. It is time again for the summer Annandale Virginia coin show!

Hi Gerry,

Just a quickie update reminding blogamaniacs that Lite will be attending the Annandale show this upcoming weekend at the Northern Virginia Community College.

The show has roughly 50 dealers and Lite will be at its normal location at table #201. 

For this show, Saturdays are usually well attended, Sundays tend to be a tad sleepy. Show hours and other information can be found on the “Additional Info” page on the Lite website.

I hope everyone is having a good summer. Here in Winston Salem, it’s been much hotter than my first two years in the south, so I’ve hit the community pool often while reading a bit to keep my now septuagenarian mind active, especially enjoying Bill O’Reilly’s “Killing Jesus”. 

I’ll try and get out a blog post out next week to update readers on the coin market pre-ANA Summer show.

Rich

 

Gerry Fortin Seated Dime Collection Posting to Online Auction Catalog

Tuesday brought a non-stop day in the GFRC office while being entirely focused on loading the Gerry Fortin Liberty Seated Dime collection into the COIN system along with some preliminary image processing. As mentioned yesterday, the entire collection must be present in the database by Thursday to facilitate the printing of GFRC Online Auction handouts at the Chicago ANA. If attending the Summer ANA show, you must stop by Booth #431 to view both the Newtown Liberty Seated halves and the Gerry Fortin Liberty Seated dimes as two remarkable collections arrive to the market place.

Much progress was made prior to the delivery of the gazebo at 4:30 PM (more on that topic later). The 1837 through 1864 dates have been posted to the online catalog with a smattering of images to whet your appetite. All I can say is that this is a remarkable offering with the majority of the lots securing GFRC-Gem quality ratings along with being housed in pre-2011 PCGS holders. There will be months to prepare statistics concerning the old holders and the fact that I've not engaged in the crack out and upgrade process since believing that conservative grading in old holders in more appealing to collectors (and dealers) that having the entire collection reholdered with the Fortin pedigree on the label. Ultimately, these dimes will speak for themselves during auction lot viewing and the reason why the Seated coinage community should plan to attend one of the three major shows where the collection will be exhibited. Those shows are the Chicago Summer ANA, the Fall Whitman Baltimore show, and the Winter FUN show in Orlando.

Today brings the completion of the loading process with the entire collection posted to the online auction catalog by day's end.

Following are four fresh images that illustrate the importance of this collection returning to the market place after a multi-decade assemblage.

 1837 Large Date F-101c PCGS MS65 CAC 10C                                     1838 Large Stars PCGS MS65 Gold CAC 10C 

        

       1839-O F-101 PCGS MS65 Gold CAC 10C                                   1840 No Drapery F-107 PCGS MS65 CAC 10C 

        

 

Island Lake Consignment Arrives - First Right of Refusals are OK!

Tuesday brought the arrival of the first of several new consignments. This small but high quality consignment certainly did not disappoint and speaks for itself. Following are the Island Lake lots with First Right of Refusals being solicited.

 

A New Gazebo in the Backyard

Tuesday's well anticipated highlight was the delivery of the Fortin's new gazebo that adds a touch of ornamental beauty to the backyard stone walls. I'm very impressed with Hill View Mini-Barns from an inventory selection perspective along with a flawless delivery and setup.

The 12x12 gazebo is vinyl construction with a wood roof covered with metal. This particular unit also comes with pre-installed 14 gauge wiring. The Fortins desired to add a new dimension to the backyard and this unit appeared to meet our requirements from a cost and ease of installation perspective. Brendall arrived with the gazebo on an incredibly versatile trailer with 3-dimension movement capability. Under the regular road wheels are a second set of wheels to move the trailer in the sideways direction. There was just enough clearance for Brendall to drive the truck and trailer down to the installation site as illustrated next. If looking closely, there are three red marks painted on the stone for positioning the gazebo with the center mark being the center of the front door.

 

The unloading and placement of the gazebo took a matter of minutes as Brendall position the trailer with its underlying wheels to meet our alignment marks. Once the gazebo was in place, the next step was to place a level on all the railings to check the 14x14 pad construction effort. The outcome was "perfection" as all measurements had the level bubble nicely centered. Brendall then checked the entrance door alignment and agreed. He complimented me on the preparation effort which made his installation job that much smoother. The screens were installed along with the cupola. Next is an image of the fully installed gazebo prior to Brendall's departure. Also note the storm clouds in the background. I was only able to enjoy the new view from the back deck for a few minutes before the evening rains arrived.

 

Here is the revised view from the back deck as taken minutes before rain began to fall. The gazebo appears to be tiny from this vantage point but then again, we are not building a country club environment in the backyard. The gazebo will be a personal get away space surrounded by stone walls and green lawns. Diane shared images promptly with Matt's wife Chikae and granddaughter Natsumi. Natsumi suggested that I should build a miniature golf course in the space behind the gazebo. Such a lovely thought... Who knows as there is plenty of space and natural obstacles?

 

Global Financial News

Just before composing this Blog segment, a Seeking Alpha email appeared with an interview with Avi Gilbert. I've been following Avi for years as he continued to predict higher and higher tops for the S&P 500. What a surprise to see Avi shift his sentiment to caution and indicating that he is moving into cash via 1 and 2 year U.S. Treasury bonds. He is anticipating a market correction as history indicates that equities will stumble when the Federal Reserve implements its first rate cut after a tightening cycle. Once again, we may be looking at a buy the rumor and sell the news event with respect to the first Fed cut during the balance of 2024. The Fed has been notorious for cutting interest rates to late going into a recession and this time could be the same.

Tuesday brought an uneventful day for equities and commodities. The S&P closed at 5,556 and down 0.15%. The 10 Year bond is flat at 4.23%. WTI crude is priced at nearly $78/bbl.

Spot gold is trading at $2412 in London while silver has perked up a bit to $29.24/oz.

Morning market futures are ugly with a 0.70% drop at the opening bell with weakness in both small caps and high tech.

 

What Is Gerry Up To Today?

With rain forecasted for most of the day, you will find me in the GFRC office loading the balance of the Gerry Fortin Liberty Seated Dime collection into the COIN database long with posting an online catalog update at end of day.

Purchase orders would certainly be appreciated along with bids for the active 1861-O Seated half dollar and J.W.Scott Restrike auction that is currently in progress.

Thanks again for checking in at the Daily Blog.

Be well!

 

 

 

July 23, 2024

Bittersweet - Preparing the Gerry Fortin Seated Dime Collection for Auction

and

A Gazebo Delivery Today

 

Greetings on a wet Tuesday morning and welcome to the Daily Blog. Here we are again for another entry into the Fortin diary. Thank you for checking in.

I don't know about the Blog readership, but I'm growing awfully tired of politics and wars. The news media and independent journalists on YouTube seem to be wholly focused on either one of these topics. It is difficult to lead a balanced life when being confronted by a plethora of negative events and news. This situation is also impacting the numismatic side of things as many among us are distracted by the constant exposure to negativity. To be honest, a walk in the woods can be quite refreshing when leaving behind the electronic gadgets that have overrun our lives. Humanity did manage to survive through the 1950s without an abundance of electronics. Life was much simple back then with the pursuit of basic necessities being the imperative.

 

Bittersweet - Preparing the Gerry Fortin Seated Dime Collection for Auction

Bittersweet - If you describe an experience as bittersweet, you mean that it has some happy aspects and some sad ones.

Monday brought the retrieval of my Seated Dime collection from a local bank box. This retrieval was different than those of the past three decades. The Seated Dime collection retrieval was for the purpose of being sold rather than for viewing enjoyment.

On one hand, it is exciting for GFRC to be marketing and selling one of the finest Liberty Seated Dime collection to be assembled. On the other hand, the construction of this collection has come to an end.

Selling the collection at this point in life is the responsible way forward. The assemblage has been a very personal project with no family members involved. After investing substantial monies, a notable family legacy must be deal with and rechanneled into other potentially positive outcomes. As a dealer, I am well aware of those who state that they will die with their coins and let the family deal with the issue afterwards. Frankly, I find this to be a selfish attitude and do not subscribe to that thought process. So here we are at the beginning of the cataloging process.

On Monday afternoon, half of the collection was loaded into the COIN database along with setting GFRC quality ratings for each lot. Each coin was carefully inspection from the GFRC dealer perspective while attempting to put the collector's bias into the background. I've learn so much about collector biases after being on the other side of the numismatic table and wish to avoid those pitfalls when cataloging my own collection. There are some incredible gems while some lots still provided an upgrade opportunuty since only securing a GFRC-Choice quality rating.

Today brings more of the same as the collection cataloging needs to get done by Thursday so that handouts for both the Fortin and Newtown Collections can be prepared and printed prior to leaving for the Chicago ANA.

Here is a visual treat for the community and myself. There are three Gold CAC lots in the group; 1838 Large Stars, 1839-O, and 1841 as sometimes the CAC bean takes on a different color depending on lighting. As usual, clicking on the below image will provide access to a higher resolution version.

 

For those that wish to view the entire collection, simply go to the GFRC Open Set Registry or click here.

 

A Gazebo Delivery Today

Monday afternoon brought the fine tuning of the 14x14 pad for today's gazebo delivery and installation. A host of leveling measurements were made in all directions to ensure the the pad is ready for the big day. Yes, this pad is 100% level and should not bring any surprises once the gazebo is dropped in place.

The purchased gazebo is rather unique as already wired with a GFI outlet and switch for a light installation below the cupola. My plan is to position the external 14 gauge wire, that would be normally connect to a power source, back under the gazebo with the intention of running the wire up through one of the hollow vinyl columns and installing a second outlet. That outlet will become the power source via connection to a portable battery back made by Jackery or Ecoflow. The battery pack can be charged in the barn and moved to the gazebo when usage is planned. Like everything that I do, there are plans and then there is the reality of the implementation.

As as example of a plan that failed to materialize, a shrub garden requires a watering source as running a hose from the homestead to the garden is just too far. Purchasing a water tank on wheels for the tractor also seemed like overkill with limited usage. The idea was to install a fire hydrant on top of our well pipe and taping into the electrical system that powers the well pump. It was a great idea until realizing that the above ground water line must be evacuated prior to the winter freeze which mean no water supply to the homestead during the winter months. This is not possible as the oil furnace boiler must be recharged in February due to evaporation. Our neighbor Rick enters the homestead in early February and turns on the water shutoff valve for a few minutes to recharge the boiler.

This revelation was one of the factors that shifted the emphasis from a shrub garden to a gazebo. Frankly, the gazebo will brings a lower maintenance effort and will be much more enjoyable for the entire family. I can see the grandchildren camping out in the gazebo as they become older.

 

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Update

There is little to report on the 1861-O Seated half dollar and J.W.Scott Restrike auction today as no bids were realized on Monday. I'm not the least worried as the expected players will appear on Friday and Saturday based on bidding registrations and other private communications.

When a collection of this importance reaches the market, passionate collectors will arrive at the appropriate time to secure these lots.

 

Global Financial News

The high technology sell-off certainly did not last long as Monday saw the NASDAQ recover by 1.5% along with the S&P 500 up by nearly 1.1%. Some investment/trading houses appear to have been early on sector rotation. Those of us who have a longer term investment outlook live a life without the anxieties of attempting to time the market.

So where are equities and commodities heading today? So far, morning market futures are essentially flat including Nvidia being flat and Tesla up 1.2%. General Motors is trading up 2.5%.

Fixed income investors remain disappointed as the 10 year bond continues to inch up with a morning quote at 4.26%. I'm so glad that Carlo and I moved our bond holdings to 3 and 6 month issues with a yield of approximately 5.2% and limited exposure to price swings of the longer dated maturities.

New support lines are being carved by gold and silver. Gold is holding steady at the $2400/oz mark ($2406 as the Blog is composed) while silver is holding the $29/oz level.

WTI crude is priced at $78/bbl.

The U.S. dollar index is steady at 104.4.

There is little in terms of BRICS news as the world will be focused on the Paris Olympics in the coming days. Let's hope there are no terrorist attacks.

 

What is Gerry Up To Today?

The response to that question is straightforward. The balance of my Seated Dime collection will be loaded into the COIN database followed by installation of the gazebo during the later afternoon hours.

Please consider a numismatic purchase as there are a host of great coins on the price list including many that have secured consignor price reductions.

So ends another Daily Blog edition. Thank you for stopping by.

Be well!

 

 

 

July 22, 2024

A Full Moon View

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Update

and

GFRC Consignment Stream is Flowing

 

Greetings from southern Maine and welcome to the Daily Blog. Thank you for returning to these daily ramblings.

American politics is certainly not boring after the events of the past few weeks. Let's just leave that topic there as we will be bombarded with "news" coverage and op-eds in the coming days on Biden's replacement. What has become clear is that the political party in power will take all necessary steps to sustain that power and control over the electorate.

Instead, let's open this Blog edition with a full moon image taken last evening prior to retreating for the evening. The moon had a particularly attractive orange glow and I just could not resist snapping this image. Please be aware that the entire backyard lighting scheme is powered by the sun. Come tomorrow afternoon, a gazebo will further augment this evening view. As usual, clicking on the below image will provide access to a higher resolution version.

 

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Update

I'm pleased to report that the specialty 1861-O Seated half dollar and Scott Restrike auction is moving along with 25% of lots securing bids. This is an excellent start as the W-4, W-5, W-7, W-10, and W-13 have found new homes. The question remains as to which collector home will be the ultimate destination.

Still awaiting bids are the two Union W-1s, the W-2, the W-6, W14, and of course the CSA Obverse W-11s. Yes, the Scott Restrikes are also available and a very important portion of the auction.

My expectations are for a 70% sell through rate come Saturday evening's closing finale as the offerings are quite special and would certainly upgrade many 1861-O half dollar collections that are under construction.

 

GFRC Consignment Stream is Flowing

I'm also pleased to report that the consignment stream is once again flowing. Sunday brought two notable consignment proposals from the Island Lake and Oregon Beaver Collections with the majority of the lots being CAC approved U.S. gold.

The Massachusetts Collection has shipped another tranche of Seated dime duplicates which were photographed yesterday.

The GFRC consignment window remains wide open and I look forward to working with any numismatist who wishes to employ our platform for divesting duplicates or an entire collection.

 

Incremental Progress on the 2025 Newtown Liberty Seated Half Dollar Auction

Please consider making a trip to the Auction link to view the forthcoming Newtown Liberty Seated Half Dollar collection posting. At this point, all lots are listed with images available for the 1839 through 1861-S dates. All pedigrees are also listed.

Today brings a shift of attention to the Gerry Fortin Liberty Seated Dime Collection and the listing of those lots within the online catalog.

Come the Chicago ANA, GFRC will have separate handouts for the Newtown and Gerry Fortin Collections. These handouts will present a listing for each collection as a first step towards full catalogs by the Fall Whitman Baltimore show.

 

Global Financial News

Ah yes, another equity market trading week is upon us after consecutive daily losses on Thursday and Friday of last week. Both gold and silver also retreated with the gold:silver ratio climbing to 83.

The S&P 500 opens the week at 5,505 with morning market futures indicates a 0.5% gain at the opening bell.

The 10 Year Treasury bond yield is slowly increasing again with a morning quote at 4.22%.

WTI crude pricing has dropped to a tad below $80/bbl.

Spot gold is trading at $2402/oz on the London exchange after closing at $2406 in Shanghai. Silver is struggling at $29/oz.

 

What is Gerry Up To Today?

Today brings a busy day with the usual morning shipping followed by securing access to my Liberty Seated dime collection. The first steps are new photography and loading the individual pieces into the COIN system towards an auction link posting.

The second imperative is fine tuning the gazebo placement area with more crushed stone. Once the gazebo is installed, it will be difficult to reach the back and right side areas between the stone wall and the gazebo with Johnny2, therefore the fine tuning needs to get done today.

Thank you again for taking time to visit the Daily Blog.

 

 

 

July 21, 2024

Gulf Hagas - The Grand Canyon of Maine

 

Greetings and welcome to the Daily Blog on a Sunday morning. We are pleased with the ongoing readership.

So what in the world is today's headline all about? This will be a great story of a Gerry and Diane adventure on Saturday. Really, this was Diane's wild idea on Friday.

The Maine Gulf Hagas is part of the Appalachian Trail corridor owned by the National Park Service and is located in northern Maine and east of Moosehead Lake. The is a secluded region of Maine only accessible by old logging roads. Gulf Hagas is a deep valley along the Pleasant River. Only day time hiking is allowed on the rim of the Gulf Hagas. Those who are brave enough will be treated to spectacular waterfalls and cliff edge canyons.

On Saturday morning, Diane and I departed in the 1993 Miata for a 3+ hour drive into the forests of northern Maine. We drove up I-95 before moving through a host of tiny Maine towns like Cambridge, Guilford, Monson, and arrived into Greenville (Moosehead area) by 11:30 AM. The top down ride was much fun until we found ourselves on a dirt road "E" after passing the tiny Greenville airport. It took another 30 minutes traveling at 15-25 mph on an old logging road to reach the entrance to the Gulf Hagas area. Entrance was $13/person with full registration information for an access permit. As the lovely older woman indicated, if we did not exit by 9:00 PM, the game warden would be out looking for us as this is rugged country with no facilities.

Diane and I then drove 2+ miles to the Upper Gulf parking area which is large enough to handle 7-8 cars. After preparations, we proceeded into the Gulf Hagas trail system and decided to tackle the onerous Rim Trail with its incredible scenic views but also the most challenging trail that we have collectively hiked in our lives. The rim trail runs directly along the Pleasant River canyon waterway with many waterfalls and sheer cliffs. We secured a deep appreciation for why the Gulf Hagas is referenced at the Grand Canyon of Maine. Following are a few quick cellphone images with no selfies for sure. The canyon edges are dangerous and I am not one to venture too close for a potential fall and loss of life. So please keep this on mind when viewing the images.

 

We managed to miss a connecting trail at Buttermilk Falls as so captivated by the scenery and found ourselves hiking the rugged rock edge Rim Trail until reaching the "Jaws" sheer cliffs before becoming exhausted. A group of college age men can along the trail (from the opposite direction) and helped us with confirming our location which resulted in hiking back to Buttermilk Falls. We finally located the exit trail from the Rim Trail, then walking another 5+ miles back to the parking area. A rough estimate is that we hiked over 11 miles on Saturday with the Rim Trail being a never to be forgotten adventure.

But that is not the end of the story. At this point, we have only eaten half of a peanut butter sandwich each with lots of water consumed. Being tired and sore, we needed food and hoped to find a diner for early dinner before the 3 hour drive back to Raymond. As you can imagine, the Miata was NOT the appropriate vehicle for driving on a dirt logging road and was covered in dust. My cherished car has developed a front end squeak due to the rough road conditions. There was a sense of relief once back on a paved road at the Greenville airport. We searched for an eatery in Greenville with no luck. The little town of Monson had one tiny "fine dining" restaurant with table clothes. This was not suitable for two tired hikers, so we kept driving south through Guilford, again with no luck. None of these towns are large enough to support a fast food franchise as desolate during the winter months. Finally, on RT 152, we spotted a brewery on the side of the road that looked like a biker bar with the most bizarre artwork outside and inside the building. There were four cars in the dirt lot. At this point, we were so hungry that we took the shot and went inside. The clientele were locals with a few Trump shirts. The pizza was great as we were famished. How I wished to enjoy a cold micro-brew beer, but there was still another two hours of driving to accomplish. We finally arrived to the homestead at about 9:00 PM and went directly to bed.

This spontaneous idea by Diane turned out to be one of the more memorable wilderness adventures of my life.

 

Wrapping Up The Blog

I'm sorry, but there is no numismatic content today for obvious reasons. As usual, it was necessary to disguise my whereabouts on Saturday due to GFRC security concerns.

The 1861-O Seated Half Dollar die variety and J.W.Scott auction sale has secured three bids for the W-5, W-10, and W-13 lots. Let's remember that this is a specialty auction and those with keen interest will be bidding next Saturday.

Finally, a reminder that GFRC needs fresh consignments.

Rain is forecasted for the afternoon and evening, therefore I must get going and wash a dusted up Miata and mow the lawn. No fooling this time. My body is too sore to do much else.

Thank you for the visit.

Be well!

 

 

 

July 20, 2024

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Open at 9:00 PM

14x14 Pad for New Gazebo is Done

and

Soliciting Consignments!

 

Greetings on another lovely southern Maine morning and welcome to the Daily Blog. Your ongoing readership is appreciated.

Time is moving along too quickly as the Chicago ANA is just a little over two weeks away with still much to be done on the auction front. We will certainly get the Gerry Fortin and Newtown Collection auction presentation material done in time.

There is little in terms of fresh content to share in this edition. Therefore, let's get to the primary news items.

 

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Open at 9:00 PM

After weeks of Blog marketing, the fourth GFRC Online Auction event of 2024 arrives this evening. Unquestionably, this auction falls into the specialty category with a complete set of 1861-O Liberty Seated half dollar die varieties along with three J.W.Scott restrikes being offered. Much has already been written concerning these lots, therefore I will not be repeating myself. At this point, those that are Civil War enthusiasts have already made a decision on which lots will be pursued.

I would be remiss for not reminding the readership that this auction presents years of numismatic effort by our client. All of the scarce to rare 1861-O die varieties are nicely represented with the top lot being the 1861-O Union W-2 graded PCGS MS62. Rather than continuing to share more marketing content on this topic, let's post a gallery of the 20 lots being offered this evening.

Good luck to everyone who participates in this event!

1861-O Liberty Seated Half Dollars and Scott Restrikes - A Complete Die Variety Set

1861 CSA Scott Restrike PCGS MS64 CAC

  1861 CSA Restrike NGC MS61 - W-13 Host Coin                                        1861 CSA Restrike PCGS AU55              

        

                   1861-O W-2 PCGS MS62 50C                                       1861-O CSA Obverse W-11 LDS PCGS MS60 50C 

        

     1861-O W-1 USA PCGS AU50 50C           1861-O W-1 USA PCGS EF40 CAC 50C            1861-O W-3 LA PCGS EF45 CAC 50C

                

1861-O W-4 LA PCGS VF35 CAC 50C           1861-O W-5 LA PCGS AU58 CAC 50C                1861-O W-6 LA PCGS AU53 50C    

                

      1861-O W-7 LA PCGS AU58 50C                   1861-O W-8 LA PCGS MS62 50C                  1861-O W-9 CSA PCGS MS61 50C    

                

     1861-O W-10 CSA PCGS AU53 CAC 50C     1861-O W-11 CSA Obv PCGS EF40 CAC 50C      1861-O W-13 CSA PCGS AU58 CSA 50C    

                

          1861-O W-14 CSA PCGS AU55 50C          1861-O W-15 CSA PCGS UNC Details 50C       1861-O W-15 CSA PCGS VF35 CAC 50C      

                

 

14x14 Pad for New Gazebo is Done

It took about three hours on Saturday morning to complete the "pad" for Tuesday's gazebo arrival and installation. The pad is ready along with an agreed upon placement orientation that was developed late Friday afternoon.

So what was involved in constructing this placement pad? How about seven Johnny2 front loader loads of field stone, two loader loads of fill dirt, and a host of 1.5" crushed stone. The challenge was building a level pad on a sloping grade. The back left corner of the pad was approximately one foot lower than the front right corner. If we had originally planned to install a gazebo from day one, then the slope could have been mitigated with dirty fill material. This was not the case as the gazebo idea appeared after the weed mat and crushed stone was already in place.

Dave Wilkinson and I have a term for bringing rigidity to a landscaped area. That term is "bone" and no different than our skeletons. In the case of filled in land, we needs rock as the skeleton, thus the need to collect more field stone as the pad's bones. Much of the seven loads of field stone was placed into the downward sloped area followed by filling in the cracks with two loads of fill acting as glue to hold the bones in place. Finally, crushed stone was layered over the bones followed by being compressed by Johnny2's two ton weight. Leveling was accomplished with a 2x12 piece of wood and a regular level.

Here is the finished pad. The image is far from exciting as a step in the preparation process. However, as we all know for landscaping or painting projects, getting the "prep" work right is the key to success. Overall, I probably have six hours of effort invested into the pad construction thanks to the power of a large John Deere tractor to transport and rough grade the materials.

 

Soliciting Consignments!

Please be aware that GFRC continues to solicit fresh consignments!

As of Friday, there are six Liberty Seated dimes that have arrived with little else being committed at this point. The U.S. gold deal that had been under discussion has gone cold. The core issue appears to be a gap in pricing expectations.

The six Seated Dimes will be photographed today and most likely posted to the price list early next week. Otherwise, the consignment queue is empty.

 

Wrapping Up The Blog

Let's wrap up at this point.

There are a few new posting on the 30 Day Price List for those who are so inclined to check. I will be in an out of the office today as the lawn must be mowed along with spraying weeds with a newly recommended organic solution of 30% vinegar rather than using RoundUp. This recommendation came from our neighbor Sharon and will be put to the test.

Thank you for taking time out of a weekend to visit with us at the Daily Blog.

Be well!

 

 

 

July 19, 2024

Wisconsin Gold Consignor Cuts Prices

The Newtown Liberty Seated Half Dollar Collection is Posted

Building A 14x14 Pad for New Gazebo

and

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Begins Tomorrow

 

Greetings and welcome to the Daily Blog on a Friday morning. Thank you so much for stopping by.

Let's open with another thank you to the many readers who took the time to respond to yesterday's Blog. This edition was written from the heart and the readership could feel this fact. Nearly ten individuals took the time to chime in on those thoughts.

Last evening, I did something out of my usual health habit by staying up until midnight to listen to former President Trump's speech at the RNC. There was a need to take in this event live rather than from a recorded video. Therefore, I am operating on less than normal sleep.

There are many headlines to move through today along with a desire to head out early to the shrub garden as I've under estimated the amount of effort it will take to build a level placement pad for Tuesday's gazebo installation.

 

Wisconsin Gold Consignor Cuts Prices

Please check the top of the 30 Day Price List as the Wisconsin Gold consignor has dropped offer prices across the board for his remaining U.S. gold consignments. All lots are now priced well below the CDN CAC price guide. I hope there might be something for you at these new offer levels.

 

The Newtown Liberty Seated Half Dollar Collection is Fully Posted at Auction Link

I'm pleased to report that the Newtown Liberty Seated half dollar collection has been entirely posted at the Auction link. More images were also added on Thursday.

We have much work to accomplish before the three GFRC Online Auction sales take place during the first half of 2025. The entire Newtown Collection will be featured at the Chicago ANA along with my own Liberty Seated Dime Collection. Please come visit with Diane and me at Booth #431 in the UltraPremium section. We will be exhibiting from Tuesday through Thursday along with having four cases of retail inventory.

 

Building A 14x14 Pad for New Gazebo

Yep, I under estimated the effort and amount of rock that must be collected to build a level 14'x14" pad for the forthcoming gazebo delivery on Tuesday.

Three hours were spent yesterday afternoon on the project including collecting four Johnny2 front loader loads of rock to build up one of the back corners. I'm dealing with nearly a one foot drop in elevation from the right to the left side of the pad. To have a stable foundation for the gazebo, larger rocks must be collected from the property and back acreage trails for that purpose along with filling in the middle of the pad with small rocks before adding a final layer of 1.5" crushed stone.

My buddy Dave Wilkinson arrived yesterday with two truck loads of 1.5" crushed stone that will be critical for locking the larger rocks into place and leveling the top of the pad.

The weather is cool this morning at 6:30 AM and I'm hoping to get outdoors early with a long sleeve shirt after being hit with poison oak on my lower left forearm last week. That issue is close to being fully healed and I don't wish to repeat contact with this plant while collecting rocks.

 

1861-O Seated Half Dollar and J.W.Scott Restrike Auction Begins Tomorrow

I would be remiss for not reminding the readership that the 1861-O Seated half dollar die variety auction sale, along with three J.W.Scott Restrikes begins tomorrow evening at 9:00 PM.

We have seen a few new individuals registering to bid in this event. I'm certain that many of the existing Seated half dollar collectors will also be active.

 

Global Financial News

The equity market and financial sector has seen a notable reversal in the past two days. Markets were down again on Thursday along with gold and silver losing ground. I've not had the time to conduct research towards a meaningful explanation here in the Blog. I will try to better cover this topic on Saturday morning.

 

Wrapping Up The Blog

Today's plan is to be working on the gazebo pad this morning and to be present in the GFRC office during the afternoon hours. Purchase orders and consignment proposals will be responded to after the lunch hour.

Thanks again for the visit. Please be well!

 

 

 

July 18, 2024

What Can I Possibly Say? Part 2

 

Greetings on a Thursday morning and welcome to the Daily Blog. As always, thank you for the visit.

Here I sit at the laptop after enjoying a usual breakfast while watching highlights from last evening's Republican National Convention. How I would love to freely speak my mind in this forum but always hesitate due to the complaint emails that will undoubtedly follow. Thus the title of today's edition. Isn't a shame? But here goes regardless.

As a student of history, as many of my fellow numismatists are, the events of the past week are extraordinary. I distinctly remember being seven years old at Holy Family Elementary School and learning that President Kennedy had been shot and killed. We all moved to our knees and prayed in disbelieve that such a event could be possible. Then came the unthinkable of both Martin Luther King and Robert Kennedy also being shot and killed during the spring and summer of 1968. The Vietnam War was also raging with the news that one of my friends older brother had been killed in the war.

Two generations later, we find ourselves in a similar situation. A presidential candidate, worse a former president, nearly died from an assassin's bullet. There are wars ranging in Europe and the Middle East. Would it be out of place to be connected to current events and their significance? How about openly talking about them via an online platform that I've nurtured for nearly ten years much to the enjoyment of readers.

So here goes....

I believe that Trump has made a sound choice with the selection of JD Vance as his running mate. JD's speech was touching given the importance of one's ancestral home. Everyone, at this point, recognizes my love for Maine and our Raymond homestead. When listening to JD, it was realized that my own son Matt is the same age as JD. My love and respect for Matt and his relentless pursuit of sustainability is well known. Matt and JD are the leaders emerging from their generation and we are in excellent hands. Again, core values are the key.

If watching each evening's convention footage, one will note who President Trump surrounds himself with as each session brings new guests. These are the individuals who have garnered the former president's respect sufficient to be included by his side. My suggestions is to watch that footage and learn who those people are. Successful individuals surround themselves with other successful people who share the same visions and goals. To lead and manage, one must build a strong team as a first step. The people who are selected speak volumes about the leader.

One final thought as I've started watching Bill O'Reilly again on YouTube. O'Reilly recently focused one of his daily editions on the "haters" in our society. These are individuals who are being paid to sow political division and hatred regardless of political affiliation. Unfortunately, their presence is amplified by modern communication technology and social media. As a child and young adult, these technologies had yet to be invented. We received a daily newspaper as our primary source of information along with Walter Cronkite each evening. The political divide was present when I was young, but the hate influencers did not exist to the extend that is currently being experienced. Today, they do and we must recognize that fact and not allow those individuals to influence us. This is why I am not on social media and carefully select my news sources with the primary source being an Indian new channel entitled Firstpost with Palki Sharma. Palki has a keen sense for analyzing international politics and attempts to call the balls and strikes fairly. That is what an informed society needs rather than hate influencers.

Yes, I've rambled a bit off the numismatic topic as a patriotic American. I have the right, as all of the Blog readers do, to speak one's mind freely. Today I exercised that right and hope that readers will understand my need to speak out. There will always be another day for more numismatic content and discussions about our great hobby.

 

A Shrub Garden Gazebo Update

In life, there are projects that moves along smoothly and others that don't.

The new shrub garden gazebo is an example of a new project that is moving along at breakneck speed. I wrote a check for the gazebo on Wednesday morning and was able to accelerate the delivery to next Tuesday afternoon. Yesterday also brought a site inspection and consultation by one of the Hill View Mini Barns experts. The delivery trailer will be able to easily access the shrub garden. My role, in the next 72 hours, is to construct a perfectly level 14'x14' pad for the gazebo's placement. Dave Wilkinson, who made the referral to Hill View Mini Barns, has committed another load of crushed stone on Saturday to enable the pad construction.

Come next Tuesday evening, the gazebo will be in place and will certainly enhance the view from the back deck.

 

Global Financial News

The NASDAQ and S&P 500 took a major spill on Wednesday as high tech momentum players raced to the exit. This point was highlighted in yesterday's Blog and played out as expected. The NASDAQ fell by nearly 3% which the S&P 500 dropped 1.4%. The DJIA was up 0.6% as investment monies are being repositioned into the small cap and financial stock sectors.

Gold set a new record high on Wednesday with the morning London quote at $2465/oz. An ounce of silver can be had for $30.36.

The 10 Year Treasury bond yield continues to be flat at 4.18% while WTI crude is quoting at nearly $83/bbl.

Morning market futures are pointing to some fire sale buying after yesterday's high tech carnage. The NASDAQ is forecasted to open with a 0.35% gain.

 

What is Gerry Up To Today?

Today brings the posting of the entire Newtown Liberty Seated Half Dollar Collection to the GFRC Online Auction catalog. There will be incremental lots with images while the balance will be listed without images. Come this evening, GFRC clients will be able to view the full scope of this amazing collection.

Please don't forget that the 1861-O Half Dollar and J.W.Scott Restrike auction opens on Saturday evening.

Moving forward, my next step is to focus on the Gerry Fortin Liberty Seated Dime Collection lots and to begin posting those to the auction link ahead of the Chicago ANA.

So ends today's edition. Thank you again for being loyal readers.

Be well!

 

 

July 17, 2024

Say What? A Gazebo for the Shrub Garden!

 

Greetings on a Wednesday morning and welcome to yet another Daily Blog edition. Time moves along much too quickly, does it not?

Today's edition will be brief for a simple reason. Since 5:00 AM and over breakfast, I've been watching Tuesday evening's speeches at the Republican National Convention as history is being in front of our eyes. There was Nikki trying to work her way back. Lara Trump was magnificent. Vivek was as energizing as ever. But the person who garnered my emotions was Sara H.

Core values are key in life. Our children learn those core values when demonstrated by parents. There is nothing more powerful than a father spending time with his sons and passing along values that include hard work. love for family, and respect for others. The same principals apply for mothers and their daughters in believing that a family unit is paramount is the fundamental support system for long term prosperity. The aspect of parents as role models for their children is under rated in today's fast pace and information overload society.

OK, Blog readers did not check in for a dose of conservative politics, so let's move on.

I'm happy to report that yesterday brought the best sales day for the current month. Old faces reappeared and made purchases with my sincerest appreciation. A new purchase deal was completed which includes several early Trade dollar dates and an 1955 Double Die Obverse Lincoln cent graded PCGS AU58 CAC. Grading results from CACG arrived with surprises and disappointments as I am still not strict enough on what I believe is originality.

 

Say What? A Gazebo for the Shrub Garden!

That is correct! The Fortins have made a decision to add a 12x12 octagon screened gazebo as a starting point for the shrub garden. Off we went to a local gazebo and shed building dealer to discuss options. This vendor has a host of locations in Maine from which to pull inventory. By the end of day, a gazebo was identified from inventory and off I went in the Miata to inspect the unit in Sabattus Maine. Today brings the deposit with a scheduled installation date of July 30.

More will be forthcoming. Following is an image of the new gazebo without its cupola. This is a vinyl unit fully screened with black metal roof. My original thought was pressure treated wood construction but Diane promptly reminder me of the maintenance requirements of a wood structure. Diane can be wise in many ways.

 

Global Financial News

Yesterday brought the long awaited wakening of the small caps as represented by the Russell 2000 and the Dow Jones Industrial Average. The possibility of the first Federal Reserve rate cut in September has brought investors back to those stocks that are dependent on lower interest rates for capital funding along with the smaller regional banks that have been suffering from high Treasury bond yields and conversely, reduced valuation on their financial statements. For example, KRE, an ETF for smaller regional bank stocks, jumped 6% on Tuesday. Seeking Alpha has the situation covered with the following article.

It was only a month ago that Wall Street Breakfast pointed to a sector rotation in the making, and the movement appears to be picking up steam. There are many reasons for the shift, including value searching due to sky-high multiples and a broadening of a rally that was supercharged by mega-cap tech stocks. Increasing rhetoric surrounding Fed rate cuts has also ignited excitement about the lending and growth environment for smaller companies, while the Trump Trade has put a focus on other parts of the market that could benefit from a new presidency.

Snapshot: The Dow Jones Industrial Average closed within striking distance of 41,000 points on Tuesday, buoyed by a post-earnings surge in UnitedHealth. The index climbed 1.9%, tacking on an additional 742 points to mark its best day of 2024. After being on fire for five consecutive sessions, things are cooling for major stock index futures in the premarket, but some other rotation plays continue to stand out.

The Russell 2000, a notable index that tracks a group of 2,000 small-cap U.S. stocks, soared 3.6% on Tuesday and has advanced a whopping 11% over the last five trading days. That's the largest such move for the index since April 2020 and it's now at its highest closing level since January 2022. Russell 2000 earnings are due to "see very favorable 'compares' against the same quarter of 2023," according to SA analyst Brian Gilmartin, who also explores what forward revisions mean for the S&P 500.

Gold is also participating in the current rally with a morning quote of $2472 on the London Exchange. Silver is trading at an even $31/oz.

The 10 Year Treasury yield remains flat to yesterday at 4.17%. WTI crude is also flat at $81/bbl.

The equity market rotation is now underway with the high flying NASDAQ rally suffering a reversal as monies are relocated into small cap stocks. Morning market futures indicate a 1.1% drop for the S&P 500 and a 1.6% for the NASDAQ.

 

What is Gerry Up To Today?

Today brings an in and out of the office day as I must drive over to the gazebo vendor to close the purchase and make a deposit. There is a doctor's appointment for another cortisone shot for my right hand's middle finger. We will also discuss potential surgery for my left hand with recovery time being the key issue given the forthcoming GFRC Online Auctions workload and Oklahoma racing school in early October. Life is certainly not boring.

BTW, I am still searching for several larger consignments if so inclined.

Thank you for visiting and the ongoing readership.

Be well!

 

 

 

July 16, 2024

1861-O Seated Half Dollars and J.W.Scott Restrikes Auction Sale Opens on Saturday

and

GFRC is Soliciting Consignments

 

Greetings and welcome to the Daily Blog on Tuesday morning. We appreciate the ongoing visit.

I'm not in a particularly creative state of mind this morning after a busy Monday. The first issue of the day came from Maine Solar Solutions as it was just learned that they have delayed the Town of Raymond permitting process by three weeks. After resolving an onerous Town of Raymond Fire Department permitting issue for this firm, one might expect some gratitude. As much as I've tried to communicate that the Fortins are heading to Florida in mid-November, it seems that those communications fell on deaf ears. Would it not be prudent to have at least one month of experience with the new Powerwall3 centric solar system and Central Power net metering before leaving Maine? Ah, that is much too logical. It appears that the Maine Solar staff is quite busy and I'm just one of many customers vying for attention. Based on yesterday's communications, we will be lucky to have an installation by the end of October.

Southern Maine weather continues to be hot with day time highs in the upper 80s with the usual humidity. Hopefully, the occasional rain events will continue to keep the landscape green. If wishing to work outdoors, then this activity must take during the early morning hours when temperatures are still relatively cool. There will most likely be a Daily Blog vacation period this coming weekend so that I can get outdoors by 6:00 AM.

Do readers watch portions of the Republican convention? Being so busy, there was no chance to watch the event live. Rather, I'm taking in spinets via YouTube. One interesting note is that Tucker Carlson was in the VIP section with Donald Trump and his family. Tucker can be seen to the left of Byron York. Donald Trump appeared to be subdued at this event and who wouldn't be after realizing that it was only good fortune and divine intervention that saved his life.

Let's move to numismatics and the GFRC business. Firstly, the cupboards are bare as all consignments have been posted to the price list. I'm not aggressively buying new inventory until I see a pick-up in sales. The latter part of a presidential election year typical brings soft numismatic hobby conditions as many are focused on politics and social media rather than a passive hobby such as coin collecting..

On a positive note, the Newtown Liberty Seated halves continue to be populated at the online catalog on a preview basis. Each day brings more progress. Starting on Thursday, the emphasis will shift to the Gerry Fortin Liberty Seated Dime Collection as the Chicago ANA is quickly approaching. Marketing material will be created for the event which requires that my collection be fully loaded into the COIN system to the same level as that of Newtown.

 

1861-O Seated Half Dollars and J.W.Scott Restrikes Auction Sale Opens on Saturday

I would be remiss for not reminding Blog readers that the important 1861-O Liberty Seated Half Dollar die variety auction sale, along with J.W.Scott Restrikes, opens this coming Saturday evening. Much has been said concerning this auction sale and the individual lots, therefore there is no value in repeating myself.

Layaway terms are available as most lots are at the four figure level with several moving into five figures, one of which is certainly the 181-O W-2 PCGS MS62 lot. If wishing to use a layaway to stretch your bidding dollars, please contact me in advance for approval of that payment option.

 

GFRC is Soliciting Consignments

That is correct. GFRC is once again soliciting consignments for regular price list sales. Since having an empty processing queue, your fresh consignments will see quick attention once we are back from the Chicago ANA event.

Please consider sending along duplicates or working with GFRC for a larger divestment. My only guidance is that patience may be required, once you coins are posted, given the election session that is underway. Consignments can be turned around quickly towards being a fast track posting. However, offer prices must be carefully considered in recognition of the state of the current numismatic market. Attempting to break even, after my sales commission, on coins purchased in the last several years could be challenging. To back up this point, following is a copy/paste from the PCGS3000 Index page that indicates a flat numismatic market during the past 12 months. What is lacking in the table is data for early 2023 and late 2022.

PCGS3000 Index - Monthly Data

DATE	VALUE	CHANGE
6/14/2024	$72,177.68	+0.05%▲
5/15/2024	$72,037.15	+0.24%▲
4/12/2024	$71,912.53	+0.42%▲
7/14/2023	$72,414.20	-0.28%▼
7/14/2021	$60,358.62	+19.64%▲
12/1/1994	$46,818.77	+54.24%▲
5/1/1989	$181,088.48	-60.12%▼

 

Global Financial News

Equity markets enjoyed an upbeat start to the trading week with the S&P 500 recording a nearly 0.3% gain after being up as much as 0.7% during mid-day trading. For once, the broader market is participating including the small financial institutions now that there are growing signals that the Federal Reserve will begin to cut rates in the near term.

Spot gold is moving upward again and currently trading at $2440/oz over in London after closing at $2417 in Shanghai. Silver is trading at $30.79.

On a positive note for gold and bonds, the 10 Year Treasury yield has decreased to 4.17%. WTI crude is priced at $81.10/bbl.

We close this segment with Seeking Alpha morning market futures and a brief article on how technology is once again about to invade our lifestyle and forthcoming freedoms. Give politicians an inch and before long they will take a foot in the name of public safety. One can easily remember the extremes of the masking mandates and "vaccines" during Covid.

In Asia, Japan +0.2%. Hong Kong -1.6%. China +0.1%. India +0.1%.

In Europe, at midday, London -0.3%. Paris -0.8%. Frankfurt -0.5%.

Futures at 7:00, Dow flat. S&P +0.1%. NASDAQ +0.2%.

Speed limiters

All new cars sold in the European Union must be fitted with new safety technology that tracks speed and limits it when needed, according to new rules that went into effect this month. The Intelligent Speed Assistance system will automatically ensure that drivers do not exceed speed limits through AI, GPS, sensors, and cameras. How effective would this be? The European Court of Auditors recently said the EU's measures won't lead to fewer deaths as implementation has weakened and Europeans replace their cars less often. While the U.S. does not have such measures in place, California recently passed a bill mandating passive speed limiters.

 

What is Gerry Up To Today?

I will be in the office once again focused on auction preparations for the Newtown Collection. By end of day, the entire collection will be posted to the online catalog, the remaining balance without images.

Please consider a purchase as sales are key for incentivizing collectors to sell their duplicates and collections.

Thank you for the visit. Be well!

 

 

 

July 15, 2024

Finally, A Quiet Homestead

and

Newtown Liberty Seated Half Dollar Auction Prep Update

 

Greetings on a Monday morning and welcome to the Daily Blog. Thank you so much for the visit.

As the opening headline indicates, the homestead is now quiet after the Yamatin family was transported back to Boston, on Sunday afternoon, courtesy of Diane. A 15 month old can be loud along with getting into trouble if not regularly monitored. Prior to Ayumi's regular nap times, the volume and playing anxieties would reach a crescendo. Ayumi did experienced one fall down the stairs since not being closely supervised but was unharmed. Afterwards, a gate was placed at the bottom of the stairs to avoid a repeat fall. Yes, the homestead has returned to its quiet and peaceful state and I'm loving it...

Moving on to the backyard shrub garden project, the planted grass continues to sprout with clumps of green currently being evident. Planting grass adjacent to a wooded area does bring challenges with wildlife however. A group of fourteen wild turkeys, three adults (a tom with two hens) and eleven poults, have discovered a free source of food and continued to circle back to the planted grass lot during the past several days. Each time they appear, I must run down the construction path to shoo away the flock. This was a common event during the past few days until Saturday evening when Matt took over the role as I was trying to grill scallops in between rain events. The flock had become so accustomed to my shooing presence that they were no longer worried and would circle back within 10-15 minutes. However, Matt was able to send the poults flying into the trees. Yes, the grill scallops turned out fine.

I arose at my usual 4:30 AM on Sunday and found a deer in the newly seeded area. This is the first deer sighting of the season other than Diane seeing a mouse in the backyard last week. The Gamo 0.177 air rifle is again operational which means the time has come to eliminate a pesky red squirrel that continues to move about the yard, mostly during the morning hours.

Let's move on to numismatics.

 

Newtown Liberty Seated Half Dollar Auction Prep Update

Considerable progress is at hand for the 2025 GFRC Online Auctions event featuring the Gerry Fortin Liberty Seated Dime Collection and the Newtown Seated half dollars.

I'm pleased to report that the Newtown halves have been photographed through the 1862 Philadelphia issue and that the initial online catalog posting includes up to the 1852 and 1852-O issues. My goal is to have as many lots as possible posted to the online catalog before leaving for the Chicago ANA. Come the middle of this week, the emphasis will shift to adding Fortin Seated dimes to the same catalog on a preview basis.

Following are five GFRC-Gem rated Newtown halves that will certainly garner much attention during the lot viewing sessions at the Chicago ANA, the Fall Whitman Baltimore show, and Winter FUN. Anyone that has a desire to bid on the Newtown halves should plan to attend one of the three lot viewing sessions for truly appreciating the premium quality and overall eye appeal of the Newtown Collection. GFRC images leave much to be desired for illustrating the importance and beauty of many of these offerings.

    1848 WB-10 PCGS MS64 CAC 50C                                                  1849 WB-11 PCGS MS64 CAC 50C 

        

     1850 WB-4 PCGS MS65+ CAC 50C                                                 1850-O PCGS MS65 CAC 50C Rattler 

        

 1852 WB-2 PCGS MS65 CAC 50C

 

The following lots are in the image processing queue so why not a group photo as a tease? All should be posted to the online catalog during the next 48 hours.

Newtown's 1853 to 1860 Liberty Seated Halves

 

Global Financial News

Dear readers, we should be taking the BRICS alliance much more seriously. The latest news is that the BRICS could establish it own parliament in the future. Inquisitive minds should simply search "BRICS parliament" on Google to learn of the forthcoming plans. If this is the case, the BRICS will have its own central bank, a parliament, and currency. Is it my imagination or is the BRICS effort starting to mirror that of the European Union? A BRICS settlement currency backed by gold and other commodities will continue to unseat the U.S. dollar as a reserve currency for global trade. Astute investors should be able to connect the dots and forecast the potential impacts to United States fiscal and monetary policy.

Let's move on to spot gold which is on the move again. Gold closed at $2419/oz in Shanghai and is now quoting at $2421 in London. Silver pricing is currently $30.78.

The week starts with the S&P 500 at 5,615 after Friday's recovery from Thursday's 1% fall. Volatility is back and will be around given the state of U.S. politics and the inability for NATO to realize that they have lost the Ukrainian-Russia war. We now live in a dangerous world and should be planning accordingly.

Seeking Alpha's daily newsletter is out early with the opening article entitled the Trump Trade. Thank God that he survived the assassination attempt. Elon Musk and Bill Ackman have now openly supported Trump. Yes, the comparison of Donald Trump to Theodore Roosevelt's grit and toughness is now cemented in the annals of American history.

Financial markets are reopening following an assassination attempt on Donald Trump at a weekend campaign rally in Pennsylvania. A bullet that grazed the former president's ear, and could have had a very different result, is still making headlines, amid calls for unity to bring the country together. The shooting also came before the Republican National Convention - which runs from Monday through Thursday - kicks off in Milwaukee, with many analysts weighing in on what the recent spate of events can mean for investors.

Bigger picture: The odds of Trump winning in November are seen as increasing following the attack, and some betting markets even show the House swinging in the GOP's favor, as well as the Senate. Republican wins would likely result in extended tax cuts and hawkish trade policies like heavy tariffs. It can also mean looser regulation for hot-button topics ranging from climate change to cryptocurrency, especially if a so-called "Red Wave" materializes.

Bitcoin rose to levels seen in early July, climbing as high as 5% to $63,204, and pushing up other crypto-related stocks. Stock futures were also in the spotlight, with contracts tied to the Dow and Nasdaq 100 ahead by 0.6%, and those linked to the S&P 500 up by 0.5%. Trump Media & Technology, which is known for its meme qualities and can follow Trump-related developments, also soared 71.5% to $52.95/share, and will likely be on the move for most of the premarket session.

Go deeper: Condemnations have poured in from across the political spectrum, but some high-profile names in the business community formally backed Trump following the shooting. "I am going to formally endorse @realDonaldTrump," Pershing Square's Bill Ackman declared, adding that full details will be forthcoming. "Last time America had a candidate this tough was Theodore Roosevelt," Tesla's Elon Musk wrote on X. "I fully endorse President Trump and hope for his rapid recovery.

Here are Seeking Alpha's morning market futures. It looks like another rally day for Wall Street.

In Asia, Japan closed. Hong Kong -1.5%. China +0.1%. India +0.2%.

In Europe, at midday, London -0.3%. Paris -0.6%. Frankfurt -0.4%.

Futures at 7:00, Dow +0.4%. S&P +0.5%. NASDAQ +1.2%.

WTI crude is trading at $82/bbl. The 10 Year U.S. Treasury bond yield is flat at 4.22%.

 

What is Gerry Up To Today?

Up next is a quick shower followed by morning shipping. The balance of the day will be split between Newtown image processing and more online catalog postings. I'm going to try to get 1.5 hours on Johnny2 as a gift to myself after a 4:00 AM start in the office.

Thank you again for the visit.

Be well!

 

 

 

July 14, 2024

What Can I Possibly Say?

 

Good morning, or good whenever when visiting today's Blog edition.

I'm sorry but just not in a mood to ramble along as if nothing has happened. You know what I'm referencing.....

Let's leave it there.

The amazing Newtown Liberty Seated half dollar collection is now posted at the online catalog through 1849 Philadelphia issue. Please visit if so inclined.

Thank you for checking in. We will be back on Monday with a regular edition.

Be well!

 

 

 

July 13, 2024

1861-O Liberty Seated Half Dollars and Scott Restrikes - Auction in One Week!

and

The Amazing Newtown Liberty Seated Half Dollar Collection

Online Catalog Posting is Underway

 

Greetings and welcome to the Daily Blog on a wet southern Maine Saturday morning. We are pleased with your return visit.

As a nature enthusiast, rain never bothers me as the source of nourishment for our green landscape. Better yet is when the rain appears during the overnight hours leaving the daytime available for outdoor activities. I'm particularly focused on rain given the freshly planted grass areas surrounding the new shrub garden.

Friday brought a lovely visit by Len Augsburger and his wife Deb to the homestead. They were heading back to the Portland Maine airport after spending time on Monhegan Island this week and took several hours to visit with us. Len was given a tour of the massive stone walls and the barn before we regrouped and began discussing the Chicago ANA and Newtown's Liberty Seated Half Dollar auction sale.

Let's move into today's primary content...

 

1861-O Liberty Seated Half Dollars and Scott Restrikes - Auction in One Week!

The first important topic of the day is the forthcoming 1861-O Seated half dollar and J.W.Scott Restrike auction that opens in one week.

This event brings a host of scarce to very rare 1861-O die varieties to those that are passionate about the Civil War and its impact on coinage of that period. 1861 brought the initial year of the Civil War with ramifications throughout the country as citizens and business owners were attempting to assess how the war would be conducted and the potential impacts to everyday life. It is well known that smaller denomination silver disappeared from circulation as Americans on both sides of the Mason-Dixon line attempted to protect what little wealth they had. It is in that context that the 1861-O half dollar auction is being presented.

I distinctly remember attending a Denver coin show years ago when former Mint director Edmund Moy sat down at my table as GFRC always had cases full of Liberty Seated coinage. We discussed the 1861-O half dollar issue and the fact that the two Union varieties are so rare as compared to their published mintage per Wiley. Moy postulated that nearly all of the January 1861 production found its way to Europe as payment for much needed Confederacy armaments. Once in Europe, these coins were melted and turned into bullion. This could explain the fact that some of the W-1 strikes did manage to reach circulation while the subsequent W-2 strikes are nearly impossible to locate.

The offering of a PCGS MS62 W-2 example is truly noteworthy in the upcoming auction sale. This die pairing is much rarer than the J.W.Scott restrikes as the CSA Restrike is estimated to have between 100-150 survivors with a high four figure to low five figure valuation depending on condition. Conversely, the 1861-O W-2 half is much more difficult to locate let alone finding an example that is certified as Mint State. All eyes will be on the 1861-O W-2 lot during the July 20 through July 27 auction week.

 

The Amazing Newtown Liberty Seated Half Dollar Collection - Online Catalog Posting is Underway

Friday brought an initial photography session for the amazing Newtown Liberty Seated half dollar collection. I was only able to photograph 20 coins before it became unbearably hot on the homestead's back deck. But 20 coins were sufficient to begin the loading of Newtown lots to the online auction catalog immediately following next week's 1861-O and Scott Restrike sale. As of this morning, the 1839 through 1842 dates are posted with fresh images.

But what about the Gerry Fortin Liberty Seated Dime Collection and its roll out?

I'm currently focused on Newtown's Liberty Seated halves during the next week and will attempt to load as many listings as possible before shifting to the Gerry Fortin Liberty Seated Dimes during the coming weekend. The goal is to raise awareness of the forthcoming first half 2025 auction sales for both collections. This will be a $2,500,000 event spread across through auction session. An exact schedule has yet to be announced but the first session is being targeted for the week of January 19th through January 26th.

Both the Fortin and Newtown Collections will be available for auction lot viewing at three major coins shows starting with the Chicago ANA in a few weeks. The second viewing session will take place at the Fall Whitman Baltimore show followed by the final lot viewing session at the January 2025 Orlando FUN show. We are holding lot viewing sessions across the country to allow as many collectors as possible to view these exceptional collections before the auction sales are conducted.

Once again, Len Augsburger will be cataloging the Newtown Collection and Gerry Fortin will be cataloging his own coins. Separate auction catalogs will be prepared for both collections and will be available for the Fall Whitman Baltimore show. Len will also be my assistant with the marketing campaign.

Following are the first six Liberty Seated halves in the Newtown Collection for your Saturday morning enjoyment as these are truly amazing pieces. The 1841-O PCGS MS62+ CAC Eliasberg half is downright jaw dropping!

1839 No Drapery WB-4 PCGS MS63+ Gold CAC 50C                             1839 Drapery WB-5 PCGS MS65 CAC 50C        

        

1840 Rev of 1839 WB-1 PCGS MS64+ CAC 50C                                  1840-O WB-11 PCGS MS63+ CAC 50C     

        

      1841 WB-1 PCGS MS63 CAC 50C                                            1841-O WB-11 PCGS MS63+ CAC 50C 

        

 

Wrapping Up The Blog

Let's end the Blog at this point. I will be in and out of the GFRC office throughout the day processing more Newtown Liberty Seated halves along with spending some fun time on Johnny2.

Please remember that there are a host of great coins to consider on the GFRC price list. New consignments are also welcomed.

Thank you for the mid-July visit. Please be well!

 

 

 

 

July 12, 2024

1861-O Liberty Seated Half Dollars and Scott Restrikes - The PDF Catalog Arrives

and

An Amazing Teaser - Newtown's 1839 to 1845 Liberty Seated Halves

 

Greetings on a Friday morning and welcome to the Daily Blog. Thank you so much for your time and returning for another edition.

Southern Maine has been enjoying a wonderful stretch of summer weather that is ideal for the tourist trade. Each day, the skies are clear to partially cloudy with temperatures hovering close to 90F. These are ideal conditions for boating on the many Maine lakes including nearby Sebago.

Closer to home, I'm working in the GFRC office or spending time outdoors on projects. The Yamatin family is enjoying the air conditioning and going about their mostly digital lives. On Thursday afternoon, several hours were spent on the JD lawn tractor preparing the property for today's special visitors. More on this development in a forthcoming Blog edition.

No, I did not watch Biden's presser and instead spent time with Chikae chatting on the back deck while grilling hamburgers. Matt was down in Waltham MA at TMO HQ for the day, so the rest of us decided to go with hamburgers as Matt is now a vegetarian.

Let's move on to the numismatic portion of today's ramblings.

 

1861-O Liberty Seated Half Dollars and Scott Restrikes - The PDF Catalog Arrives

Assembling a 20 lot GFRC Online Auctions catalog was an ease and wrapped up the preparations for the July 20th auction. You are invited to click on the following image to access a catalog that documents a noteworthy achievement by one of our many clients. When creating the individual descriptions, I did my best to strike a balance between discussion of the die variety along with the lot's specific attributes. The GFRC Quality rating are factual as I'm calling coins as I see them. If placing a lot under the bright light with an initial "wow" reaction plus seeing pristine or close to pristine surfaces under 10x, then this piece will secure a Gem quality rating. If a lot looks atypical in a not so good way, then it will receive a Market Acceptable rating. This approach distinguishes GFRC from other auction houses as I try to ensure that bidders understand what they are buying without any purchase remorse upon arrival.

Simply click and download to start your numismatic day.

1861-O Liberty Seated Half Dollars and Scott Restrikes

The PDF Catalog Arrives

 

An Amazing Teaser - Newtown's 1839 to 1845 Liberty Seated Halves

Today's Blog edition brings the initial preview of the amazing Newtown Liberty Seated Half Dollar collection along with the first round of photography. There is no need for a long introduction as Newtown is GFRC's top client. Aaron and I have been working together since the early years of the GFRC business and have built some mighty fine collections including the Newtown Liberty Seated dimes that were sold in the past few years.

Now the time has come to market and sell his true love, a collection of top end Liberty Seated halves. Following are the lots dated 1839 through 1845. Please note that the 1844 and 1844-O halves appear a bit washed out in the images due to the position of the coins with respect to the office window lighting.

Clicking on the below image will provide access to a higher resolution image that will allow for closer inspection. In the coming days, there will be additional previews as we move through this meticulous assembled collection.

Newtown's 1839 to 1845 Liberty Seated Halves

 

Global Financial News

Thursday's CPI report for the month of June saw inflation declining by 0.1% from May, putting the 12-month rate at 3%. The downward inflation trend has been long awaited and now provides the Federal Reserve with an opportunity to start dropping interest rates. So how did the financial markets react?

Have you heard of the old stock market says that goes as "buy the rumor and sell the news". Well that is what took place on yesterday. The positive news on inflation brought about a 2% drop in the NASDAQ index and a spill over 0.9% drop for the S&P 500. Yes, high tech stocks took it in the chin. The momentum trade hit a wall.

Spot gold and silver responded as expected with gold up to as high as $2420 and silver to $31.50 on the news. Some sellers jumped in at these levels with gold now quoting at $2402 and silver at $30.70/oz.

After the June inflation report, the 10 year U.S. bond yield gapped down to 4.17% but has since returned to 4.22%.

Morning market futures are flat to start the final trading day of the week.

 

What is Gerry Up To Today?

Actually, it is going to be another busy day in the GFRC office as sales are picking up. There have been discussions with a new consignor for the past few days and it appears that he is now to the point of committing a shipment. I can understand the anxieties of a collector who decides that it is time to sell and committing to a certain dealer to handle the divestment. Some collectors take the "up the ladder" approach which is divest their least desirable coins first as an attempt to "vet" the dealer. This approach is well understood as I've been through this process enough times. Key is that the consignor trusts me on setting offer prices that are consistent with quality.

Once the Blog is uploaded, I will be heading to the back deck for a Newtown Seated half dollar photography session. The early afternoon brings the arrival of special visitors to the homestead and GFRC office.

So ends today's ramblings. Your ongoing patronage is truly appreciated. Thank you again and be well!

 

 

 

July 11, 2024

Don Kagin Robbed in Madrid Spain

1861-O Liberty Seated Half Dollars and Scott Restrikes - Online Catalog is Complete

and

Beautiful!! Says Dave Wilkinson

 

Greetings and welcome to the Daily Blog on a Thursday morning. Thank you so much for sticking with these on and off ramblings.

Guess what? There is poison oak on the property as I learned yesterday. Where and how I ran into this plant remains a guess, but the bubbled rash on my lower left arm is unmistakable for contact with this nasty plant. Luckily, I always work outdoor with a near full long sleeved shirt so the exposure was limited. Moving forward, outdoor work will be conducted with a full long sleeve shirt to ensure no repeat events.

GFRC orders have picked up a tad which is encouraging. USPS mail delivery continues to be erratic out of the Raymond post office due to limited staff that is overburden by the increased town population as summer lake residents have settled in. The crucial issue is Amazon end of line deliveries that continues to overwhelm the staff. The post office counter is an ongoing hit or miss in terms of staffing as the postmaster must decide where and how to allocate resources. Diane and I can sense the issues and drive often to the post office counter to check on mail delivery along with hauling in outgoing shipments.

On the home front, the Yamatin family is in its final days at the homestead. After being here for nearly ten days, everyone has settled into a rhythm in terms of purchasing and scheduling meals that meets diverse schedules. Matt has established a remote TMO office in the dinning room with Chikae conducting private math tutoring session online in the TV room. Natsumi is either reading books or busy with her laptop. Baby Ayumi is an easy child and readily amused with her toys.

 

Don Kagin Robbed in Madrid Spain

This sad news arrived via regular email reporting by the Numismatic Crime Information Center (NCIC). Don Kagin is a well known figure in the numismatic business and operator of Kagin's Enterprise for decades and is a regular at the larger national shows.

Following is the report from NCIC and a reminder to every coin dealer that there is constant risk when transporting coins.

On June 29, 2024 dealer, Don Kagin, was the victim of a theft while attending a coin show in Madrid, Spain. The victim left the show with his roller bag and was headed to his hotel and stopped to make a purchase at a shop. During the transaction a suspect grabbed the roller bag in seconds and fled. The victim immediately followed the suspect but was distracted by a second person who pointed in the opposite direction of the fleeing suspect.

 

The initial investigation has revealed that the offense was well orchestrated by four individuals. Madrid police have advised the victim that the offense was caught on video and that one suspect has been identified and is a known offender. Investigators believe the suspects are Columbian Nationals.

 

Stolen Coins

 

1852 U.S. Assay Office $50 PCGS VF35 50015753

1851 Humbert $50 PCGS VF25 39196283

1849 Moffatt $5 NGC MS60 3643408-002

No Date Bechtler $1 28 grain Center PCGS 5749005

2022 one-ounce gold TORO 1 of 200 PCGS PF70 46035117

2023 one-ounce   gold Caballo 1 of 200 PCGS PF70 47782609

2022 1/10^th gold Lynx PCGS PF70 46034016

2023 1/10^th gold TORO PCGS PF70 47925537

2024 1/10th gold Caballo PCGS PF7049593381

 

1861-O Liberty Seated Half Dollars and Scott Restrikes - Online Catalog is Complete

I'm quite pleased to report that preparations for the GFRC July 20th auction is moving along nicely. As of yesterday evening, the online catalog has been completed. Today brings the construction of the PDF catalog which should not take too long since this is a 20 lot auction.

 

Beautiful!! Says Dave Wilkinson

Since not composing a Daily Blog edition on Wednesday, the extra 1.5 hours were gladly employed for completing the shrub garden infrastructure. The day's temperature rose quickly into the low 90s with an early start seeing the cooler portion of the day. The last of the weed mat was carefully position along with transporting 1.5" crushed stone as surface coverage. Some residual rip-rap stone was collected to fill in a low spot at the entrance and probably where I came in contact with the poison oak.

Here is an image that was shared with my buddy Dave Wilkinson as this was a team effort. The old burn pit is now a distance memory having been replaced with a visually attractive alternative. Note how the grass is coming in nicely at the left side of the image. The following image was shared with Dave and his response was "Beautiful!!". We must remember that beauty is in the eyes of the beholder. In this case, two old guys have crafted a newly landscaped area that will be another heritage aspect of the property that continues the efforts of the initial settlers. What was just an idea has been transformed into reality.

We are ready for those nasty thunderstorms and heavy downpours at this point. Actually, some heavy rain will allow me to view how the water flow around the garden and where to mark off the location of the forthcoming swale in the to be filled in area downhill of the garden.

 

Global Financial News

Regardless of all the Joe Biden turmoil in the political media, equity markets enjoyed a strong rally day on Wednesday. All major market indices jumped by a full point with the S&P closing at 5,634.

The catalyst appears to be the acknowledgment that the U.S. economy is slowing as Jerome Powell is starting to signal that Fed Funds rates will be lowered in the coming months. The high flying technology sector, Apple, Tesla, and Nvidia, are leading the way. Frankly, I don't get why Tesla has seen such a sharp rally as its EV automotive business is under pricing pressure from China's BYD.

The prospects for lower interest rates is also bullish for gold and silver. As of 7:30 AM, spot gold is priced at $2383 in London trading after closing at $2395 during Shanghai Exchange trading. It appears that the western banks are no longer able to push down the price of gold at this point. Silver is quoting at nearly $31/oz.

The 10 Year U.S. Treasury bond yield remains stuck at close to 4.3% regardless of Powell noting progress on the inflation front. The U.S. dollar has slipped a tad to 104.85.

WTI crude oil is trading at $82.30/bbl.

It is no surprise that morning market futures are down by 0.15% after yesterday's rally.

 

What is Gerry Up To Today?

The day starts with the shipping department being activated now that a slew of checks have been delivered by the Raymond post office. Afterwards, my attention shifts to the construction of the 1861-O Seated half dollar PDF auction catalog. Once that task is completed and posted, the forthcoming Newtown Liberty Seated Half Dollar Collection will continue to be loaded into the COIN system and embellished with its pedigrees. Once that task is completed, the content of this magnificent collection will be posted to the online auction catalog with a late January 2025 date as a placeholder. For lots purchased from GFRC, those images will also be added to the preview.

I hope that you've enjoyed today's Blog edition. Thanks again for the patronage.

Be well!

 

 

 

July 10, 2024

Taking a Blog Vacation Day

Greetings on an early Wednesday morning. Thank you for checking in.

Southern Maine weather will be unsettled today with rain forecasted for 2:00 PM onward. Therefore, I'm heading outdoors early and will be in the GFRC office starting at lunch time.

There is nothing to report in terms o the coin business as sales continue to be slow along with the consignment queue being empty other than the Newtown and Fortin major collections for 2025 auctions.

The 1861-O Seated half dollar online auction catalog will be wrapped up this afternoon followed by the construction of the PDF catalog. It has been a pleasure cataloging this marvelous collection as each lot provides die variety diagnostics that are fully consistent with the Bill Bugert New Orleans half dollar reference.

Take care and be well. I'm going into the physical world to do what I love!

 

 

 

July 9, 2024

Johnny2 Has a New Sandbox!

and

Island City Consignment Discounting and Final Call Before Chicago ANA

 

Greetings once again and welcome to another session of the Daily Blog. Thank you for checking in.

Southern Maine is experiencing a typical hot summer with the usual mid to late afternoon thunderstorms. I remember last summer's weather when Dave Wilkinson and I has tour apart the old asphalt driveway and rebuilt the base with fresh gravel. Then came two torrential downpour events that eroded a portion of that work. Now the same situation is unfolding with the shrub garden project as afternoon thunderstorms are forecasted for today and Wednesday. Last year's memories are still fresh leading to the decision to spend the post Daily Blog hours getting crushed stone on top of the newest effort.

Let's open today's Blog edition with a backyard picture update after spending Monday morning on a chain saw followed by late afternoon on Johnny2. It is becoming apparent that my body is adjusting to being outdoors in hot, humid weather conditions which is a good thing. Let's get started with the first image of the shrub garden taken at 5:00 PM Monday. There is much to see in this image, therefore the discussion will take place from left to right.

On the far left is the newly seeded area which exhibits a green "fuzz". This is the new grass area that was planted about 8-9 days ago and is currently sprouting. Next is the drainage ditch filled with rip-rap. Both the new grass and the uncovered area of the shrub garden will drain into the trench with the water flow circling around the backside of the garden's rock wall. The darker brown dirt was added on Monday. The uncovered area will be finalized this morning with weed mat and crushed stone. Moving to the far right, please look carefully to find three 16 yard lots of fill and Johhny2. The downward sloping grade is nicely illustrated in this image. If looking even more closely behind one of the fill piles, you will see stacked firewood that needs to be moved into the homestead's garage.

 

This second image illustrates Johnny2's new sandbox! Seriously, this is what 48 yards of fill looks like before being leveled towards filling in a low spot that continually collects water and just does not properly drain. In the past, moving across the sharp slopes with the tractor would provide an uncomfortable feeling of a potential tip over, especially if the tractor's front loaded was raised. This amount of fill should get the low spot raised with a swale being placed in the center for water flow management. Once the ground is fully contoured to my liking, this area will be seeded with clover variants that are known to be a good food source for deer.

 

Island City Consignment Discounting and Final Call Before Chicago ANA

Monday brought an email conversation with the Island City consignor after a notification that a consignment check had been mailed. Time has passed since this consignor's CAC centric Barber and Standing Liberty quarter auction during November 2023. The post auction sales have gone well, but there is still a substantial number of left over lots that have not sold including the 1916 Standing Liberty quarter which was hoped to be part of my commission payday for conducting the November 2023 auction. Such is the situation when operating with a combination auction and price list business model and allowing consignors to have the final say on their reserves.

Our friend would like to close out his consignment at the Chicago ANA, taking the remaining coins to another sales venue. Therefore, we agreed to relist his entire consignment at the top of the 30 Day Price List with a pricing discount as a final effort to sell these lots. The 1916 Standing Liberty quarter, graded PCGS AU53 CAC, has been reduced to $13,100 as an example. Following is a gallery display of several of the remaining Island City lot with their reduced prices. Hopefully, a portion will be sold by GFRC before surrendering the unsold coins at the end of the ANA event.

1916 PCGS AU53 CAC 25C - $13,100

      1881 PCGS MS64 CAC G$1 - $1425                                               1887 PCGS MS63 CAC G$1 - $1045    

        

1894-O PCGS AU55 CAC 25C - $415               1896-O PCGS EF45 CAC 25C - $900                1898-O PCGS VF25 CAC 25C - $285

                

1898-S PCGS AU53 CAC 25C - $685                1901 PCGS MS62 CAC 25C - $400                1902-O PCGS AU53 CAC 25C - $330

                

1903-S PCGS MS64 25C - $1850                   1911 PCGS MS62 CAC 25C - $475                1914 PCGS MS64 CAC 25C - $520

                

   1915-D PCGS MS64 25C - $475                    1927 PCGS MS64 CAC 25C - $415

        

 

Global Financial News

Well, it appears that the S&P 500 is on track to break through the 5,600 mark this week as the index gained again on Monday to a 5,573 level. The high tech momentum stocks continue to move forward while the small caps are not invited to the party. However, the overall U.S. economy is developing cracks if one takes time to look behind the headlines. Official reports of plentiful jobs and how unemployment are possible as the government, already spending at deficit levels, is on a hiring binge. Conversely, a detailed check of the monthly jobs reports indicates that private sector hiring is falling due to reduced openings. This Federal Reserve chart speaks volumes on what is really happening in with employment. Note the drawn in red line which highlights the bottoming of a hiring cycle coincidence with a recessionary period. Is this time different?

 

Morning market futures are pointing to more of the same with the S$P 500 up 0.21% drive by the NASDAQ high tech darlings.

The 10 year Treasury yield has dropped to a tad under 4.3% with the U.S. dollar steady at 105.1.

Spot gold is trading at $2361 in Europe after closing at $2390 in Shanghai. Some things are so predictable! The silver trading is up to $31.05.

WTI crude is priced at $82/bbl.

 

What is Gerry Up To Today?

Firstly, there is no shipping as sales have been anemic. This will allow me to go outdoors immediately after the Daily Blog is uploaded.

I'm in discussions with a new individual on a potential consignment that could be substantial. The bulk of the consignment is U.S. gold.

Let's just say that I will be in and out of the office today with the emphasis being on "out" as wrapping up the shrub garden covered is a priority before afternoon thunderstorms appear.

Again, thank you so much for visiting with me at the Daily Blog.

Be well!

 

 

 

July 8, 2024

GFRC Online Auctions Proudly Presents

1861-O Liberty Seated Half Dollars and Scott Restrikes - A Complete Die Variety Set

and

A Busy Hauling Day for Dave Wilkinson

 

Greetings on a lovely southern Maine morning and welcome to the Daily Blog. Thanks for hanging in there during the summer numismatic doldrums.

Sunday brought high temperatures approaching 90F. Yes, if living in Florida or the dry heat western states, 90F is no big deal. However, in southern Maine, there is always high humidity since we are only 20 miles from the ocean as the crow flies. As much as I enjoy working outdoors, the day was spent in the office and moving the newest GFRC Online Auction event to a state of readiness.

Following is the showcase gallery for the forthcoming July 20th event that was prepared yesterday and published at the Auction link. The online catalog is nearly complete at this point with only the descriptions remaining to be done.

I've taken the time to write more in depth auction discussions at the two auction link pages and don't believe these need to be repeated here. You are invited to visit the updated online auction catalog by clicking on the above banner.

I hope the following gallery provides some visual enjoyment on a Monday morning.

 

GFRC Online Auctions Proudly Presents

1861-O Liberty Seated Half Dollars and Scott Restrikes - A Complete Die Variety Set

1861 CSA Scott Restrike PCGS MS64 CAC

  1861 CSA Restrike NGC MS61 - W-13 Host Coin                                      1861 CSA Restrike PCGS AU55              

        

                      1861-O W-2 PCGS MS62 50C                                           1861-O CSA Obverse W-11 LDS PCGS MS60 50C     

        

     1861-O W-1 USA PCGS AU50 50C           1861-O W-1 USA PCGS EF40 CAC 50C            1861-O W-3 LA PCGS EF45 CAC 50C

                

1861-O W-4 LA PCGS VF35 CAC 50C           1861-O W-5 LA PCGS AU58 CAC 50C                1861-O W-6 LA PCGS AU53 50C    

                

      1861-O W-7 LA PCGS AU58 50C                   1861-O W-8 LA PCGS MS62 50C                  1861-O W-9 CSA PCGS MS61 50C    

                

     1861-O W-10 CSA PCGS AU53 CAC 50C     1861-O W-11 CSA Obv PCGS EF40 CAC 50C      1861-O W-13 CSA PCGS AU58 CSA 50C    

                

          1861-O W-14 CSA PCGS AU55 50C          1861-O W-15 CSA PCGS UNC Details 50C       1861-O W-15 CSA PCGS VF35 CAC 50C      

                

 

A Busy Hauling Day for Dave Wilkinson

The back acreage project, including the shrub garden, will see an influx of material deliveries today. Dave Wilkinson starts the month of July with a substantial material order that includes 48 yards of dirty fill and 12 yards of 1.5" crushed stone. The delivery of this material will required five truck loads including three visits with his 16 yard "wheeler" truck and two trips with his smaller 6 yard truck.

Obviously, the crushed stone will be employed for wrapping up the protective barrier on top of the forthcoming shrub garden. This is important as Saturday's heavy rain has already started to erode the uncovered area. Dave's "dirty fill" is one of the best bargains around at $250 a truck load delivered. This fill is far from "dirty" and packs nicely. The goal is to continue filling in a depression behind the shrub garden that collects water and remains soft year round. My plan is to fill in this perpetually soft area including the shaping of yet another drainage ditch and filling in with rip-rap stone. Water flow management is the imperative when landscaping on the side of a hill.

As a final note on the back acreage effort, the grass that was planted last week has germinated with a soft green fuzz beginning to appear through the straw. Planting a new lawn is not rocket science as I've been at it since the early age of 10. Key is strict adherence to the preparation steps and purchasing the correct grass side for the application.

 

Global Financial News

Here we are again as another trading week arrives with the S&P 500 at 5,567. Monitoring a single index for the health of the U.S economy is unwise at this point given that the gains are being driven by a few outsized high tech firms. Momentum "investors" are riding the wave as are many money managers.

The 10 year note has creeped back up to 4.3%.

Spot gold is trading in London at $2373/oz after closing at $2385 in Shanghai. I can't remember seeing a gold pricing quote out of London that was higher than the Shanghai close during the same day. When U.S. trading kicks in on the COMEX, the price will most likely drop a bit more. Such is the game being played by the major U.S. financial institutions.

Silver is quoting at an even $31/oz with a 76 ratio to gold.

WTI crude is currently priced at $83.38/bbl.

Morning market futures are flat.

 

What is Gerry Up To Today?

Up next is light shipping followed by writing description for the upcoming 1861-O die variety auction sale. The GFRC consignment queue is empty which will allow me to focus on the forthcoming Gerry Fortin Liberty Seated dime and Newtown Liberty Seated half dollar sales that will take place during the first half of 2025. Please remember that both collections will be on display at the Chicago ANA.

Otherwise, I'm going outdoors to work on the back area landscaping with Johnny2 once Dave makes those material deliveries.

That is it for a Monday Blog. Thanks for the visit and be well!

 

 

 

July 7, 2024

1861-O Seated Half Dollar Die Varieties and Scott Restrikes

Online Auction Reserves are Posted!

 

Greetings and welcome to a short Blog edition on a Sunday morning.

Is anybody out there? from Pink Floyd's The Wall is once again pertinent as numismatic demand is quiet. We are in the summer doldrums with collectors focused elsewhere. Yesterday's attention was centered on the near term 1861-O and Scott Restrike auction catalog and its construction. Here goes....

 

1861-O Seated Half Dollar Die Varieties and Scott Restrikes - Online Auction Reserves are Posted!

You are invited to click on the above auction banner to access the fourth GFRC Online Auctions sale of 2024. This event is quite special and uniquely focused on a complete 1861-O Liberty Seated half dollar and J.W.Scott restrike die variety set.

Reserve prices have been approved and posted. All photography has been completed with image processing proceeding after this brief Blog edition.

The 1861-O Union issued W-2 graded PCGS MS62 has been employed as the banner plate coin given its extreme rarity in Mint State. My expectation is that this lot will be pushed into the five figures.

I've decided to stage a regular seven day auction from July 20 through July 27 towards providing fans of the 1861-O half dollar die varieties with sufficient time to contemplate their must have lots.

All attributions will be verified by GFRC to ensure their accuracy. Descriptions will be prepared this coming week as part of that validation process. So please bid with confidence.

Layaways are possible if contacting me in advance of the auction event with this need.

 

Wrapping Up The Blog

That is all that I feel compelled to share today. In a few hours, I will heading outdoors with a chain saw to cut up a small wood pile following by spending the rest of the day indoors as temperatures will be approaching 90 degrees with a high UV index.

Thank you for checking in.

Be well!

 

 

 

July 6, 2024

1861-O Seated Half Dollar Die Varieties and Scott Restrikes

Auction Event Starts July 20!

and

Pay Attention to the BRICS October 2024 Summit

 

Greetings from southern Maine on a wet and foggy early morning. Thank you for the ongoing patronage.

It is a mid-summer Saturday morning with the typical afternoon thunderstorms in the weather forecast.

Friday was a good day overall in terms of shrub garden landscaping progress and the just arrived 1861-O die variety collection sale. Coin sales not so much as we sold a single $350 coin. Sure, there were several other inquiries with terms that were a no-starter. GFRC layaway policies are fair.

Sometimes a good sweat helps enable a healthy body. That I did on Friday early afternoon when seeding a new section of disturbed ground to the left of the shrub garden. The area was first fine raked and yielded yet more surface rocks to be removed. I continue to be in awe of the 1880s settlers and the efforts that we required to clear this land of stone towards creating usable farm land. As Dave Wilkinson and I continue to clear areas, the ongoing question is what to do with the mountains of stone that are unearthed. Building stone walls was the solution in the 1880s and still remains true today.

After the fine raking, a combination of fescue and Kentucky bluegrass seed was applied. I'm a big fan of Pennington seed on a value basis. When purchasing grass seed, one must read the audited contents label to understand what is being bought. Too many Scotts offerings are full of annual and perennial rye grass. The next step was rolling the seeded area with Johnny2's tires. Johnny2 is a 4500 lbs machine and works well in driving the seed down into the ground by 1/4". Then came the straw application to protect the surface from erosion and keeping a damp layer on top of the seed.

 

1861-O Seated Half Dollar Die Varieties and Scott Restrikes - Auction Event Starts July 20!

After working up a good sweat in the hot sun, I was back in the office after a shower. There was an immediately photography session whereby half of the 1861-O halves were imaged before darker clouds appeared. The entire consignment was loaded into the COIN system followed by making an initial auction reserve price proposal to the consignor. This fast turn around on pricing was enabled by 10 years of 1861-O die variety records in the Sales Archive. Do you know how rare the W-2 Union issue is in Mint State? How about the Louisiana W-6? The Sales Archive review was quite telling.

Looking at the GFRC calendar and the upcoming Chicago ANA show the week of August 5th, it became immediately apparent that the 1861-O sale must take place the week of July 20 through July 27 so that payments and shipments can be managed prior to heading to Chicago. Therefore, I will be laser focused on building the online catalog in the next 72 hours or so with weather being the gating factor for the remaining photography.

 

Pay Attention to the BRICS October 2024 Summit

There has been little coverage of the BRICS imitative by the western media given its bias to reporting on the U.S and European economies.

What most in the west do not realize is that the BRICS countries are constructing an alternate financial trading system to SWIFT and are developing the parameters for a multinational settlement currency.

The BRICS summit is scheduled for October 2024 in Kazan, Russia. The summit will bring together founding nations Brazil; Russia; India; China; and South Africa, as well as newly inducted nations. Many interested countries are also expected to receive invites to the annual summit as BRICS expands to a critical mass alliance for the global south. At the October meeting, topics will include de-dollarization, further expansion, and the launch of a settlement currency.

Why am I focusing on the BRICS in the Blog? From what is being read and seen on YouTube interviews, the BRICS settlement currency will be partially back by gold. The numbers being suggested are between 20% to 40% of the currency's value. Each member country will be able to convert member local currencies into the settlement currency without the need for U.S. dollars to be involved. This is an important milestone as it removes the need to own U.S. Treasuries as a foreign reserve asset when conducting trade with member BRICS countries. Now that the Bank of International Settlements has reclassified gold as a tier 1 asset, the BRICS members will be able to settle trade imbalances via physical gold settlements.

Obviously, gold must be revalued upward to enable the BRICS trade settlement currency. I'm currently seeing a $3000/oz number being bantered about come the October meeting. Already, gold has been revalued from $1900 to $2350 this year, a nearly 25% valuation increase. A move to $3000 would be similar on a percentage basis, therefore not unrealistic.

Silver is also in play as its pricing structure is in lock step with gold at 75:1 ratio. A 25% revaluation of silver leads to a $38/oz price.

Bottom line, the United States has made a fatal error by weaponizing the U.S. dollar and its supporting financial infrastructure. The latest blunder is the confiscation of Russia interest payments on Treasuries held by the west. This G-7 country decision will go do in history as the straw that broke the camel's back leading to a rush for BRICS membership.

While Joe and Jill attempt to hold on to political power, the eastern and global south are working at a fast pace to ditch its dependence on U.S. hegemony. We are ordinary citizens must move outside regular information channels and explore global developments and the potential for disruption to our decades long control of the world wide financial system. I am closely watching the BRCIS developments and taking tactical actions.

 

Wrapping Up The Blog

I hope that you've enjoyed today's edition.

As Maine weather will be unsettled, most of the day will be spent in the GFRC office working on the 1861-O auction event. I'm always interested in selling a coin or two on behalf of the many GFRC consignors.

Thanks for the visit. Be well!

 

 

 

July 5, 2024

1861-O Seated Half Dollar Die Varieties and Scott Restrikes

A Forthcoming GFRC Mini-Auction Event

 

Greetings on a Friday morning and welcome to the Daily Blog. I trust that the community enjoyed a restful July 4th holiday.

The Yamatin family continues to enjoy their digital life at the homestead while Grandpa continues to work outdoors on his shrub garden project. The contrast is stark but then again, the Yamatins have only known urban life in Boston's North End, followed by years in concrete and steel Beijing, and now living in the Coolidge Corner community of Brookline Boston. This lifestyle includes only public transportation and without a personal vehicle. Matt bikes 9 miles each morning to Thermo Fisher's Waltham location regardless of the seasons and weather as an example of his commitment to minimizing his family's carbon footprint.

"Slow" best describes the current position of the numismatic market as we are experiencing the summer doldrums. I'm loading a host of coins on the 30 Day Price List with a smaller than normal fraction finding new homes. On a positive note, the GFRC price list will be in a strong position come the October time frame, when the coin market springs back to life.

I did manage some time in the office yesterday afternoon generating another round of consignment checks and loading GFRC-Lite's past two month consignment sales into the COIN system.

Moving to a report on the homestead's wildlife status, the chipmunks appear to have been temporarily eradicated. Instead, an aggressive red squirrel has moved into the front landscaping and must be dealt with. I'm watching this squirrel chasing away much larger gray squirrels. Yesterday brought a direct confrontation with this creature as I found it bolting out of the homestead garage after returning from the back acreage. Our new pest was not phased by my presence and continued to watch me from a safe distance. Out came the 0.22 long barrel pistol followed by testing the creature's tolerance. A single shell shot attempt was made at a longer than normal distance hoping for a lucky outcome. The red squirrel just disappeared. Today brings the purchase of a replacement Gamo break barrel air rifle as the red and gray squirrels must be eliminated before the Maine Solar roof level PV installations.

Following is a quick snapshot of the shrub garden status. Note the partal application of crushed stone that presently has a brownish-gray color. I'm out of weed mat and crushed stone at this point with a request to Dave Wilkinson for two more crushed stone loads on Saturday. I will be heading into Windham this morning to drop off shipping along with securing more weed mat, straw and grass seed, plus purchasing a replacement air rifle. The brown area to the left of the new shrub garden has been prepared and is ready for seeding this afternoon. Rain is in the forecast for the overnight along with typical afternoon thunderstorms on Saturday. It is best to get the seed down before a rainy period.

 

1861-O Seated Half Dollar Die Varieties and Scott Restrikes - A Forthcoming GFRC Mini Auction Event

GFRC is thoroughly pleased to be showcasing the newly arrived 1861-O Seated half dollar die variety consignment along with three Scott Restrikes.

My hat goes off to this collector for the amount of time and passion involved with building and presenting his achievement. The first image illustrates the seventeen 1861-O halves that have been meticulously purchased and reholdered with die variety designations on the PCGS labels. Eight of the lots are CAC approved. The collection includes two Union W-1 lots and a Mint State W-2, the latter being very rare at the certified grade level. As we move into the Louisiana issues, the scarce W-6 is graded PCGS AU53. Please note that the challenging CSA W-10 is represented by a PCGS AU53 specimen with CAC approval while the equally challenging W-14 (Bisecting Obv Crack/Speared Olive Bud) is graded PCGS AU55. Clicking on the below images will provide access to higher resolution version for detailed inspection.

Overall, this is a very strong lot that should garner a host of attention by fans of the date and Seated half dollar enthusiasts as a whole. But we are not done...

 

The forthcoming mini-auction will also include three Scott Restrike lots that are currently housed in a special presentation case with detailed descriptions on the back cover.

The lot contains two J.W.Scott restrike on 1861 dated planchets with the NGC holdered example being either a W-13 or W-14 as the bisecting obverse die crack through the date is bold under 10x. The final specimen is a Scott medal strike with the Confederate obverse on white metal. This lot is certified PCGS MS64 with CAC approved.

 

This collector is a private individual who has been working passionately in the background of the ongoing numismatic market to bring about this magnificent accomplishment. He has sold duplicates via GFRC in the past on an unnamed basis.

No date has been set for the mini-auction as the lots arrived on Wednesday. Photography will be next along with loading the group into the COIN system and preparing the GFRC Auction link for the event. Please keep checking the Daily Blog for a forthcoming schedule announcement.

 

Global Financial News

While U.S. equity markets were closed for the 4th, commodity trading continued at the Shanghai Gold Exchange. As gold pricing determination is coming from China, spot gold has increased to $2364/oz while silver has also increased to $30.53.

The S&P 500 continued its rally on Wednesday with a close at 5,537. One has to wonder how much more upside there is left in an index that is being mostly driven by a few high flying technology stocks. Having lived in the semiconductor industry, every product has a finite life cycle and this will also apply to Nvidia AI chips. There will be a point where the market becomes saturated and those double and triple booked orders will be scaled back. This is when the Nvidia earnings multiple will come under downside pressure and yet another high tech phenomenon that will flatten at some point. I just do not wish to be heavily invested in that sector when that day arrives.

For those readers with time on their hands, might I suggest that you become very knowledgeable of the ongoing BRICS developments including the mBRIDGE project, and the blocks relationship with the Bank of International Settlements. It is crystal clear to me that the U.S. dollar's hegemony for global transaction is under increasing pressure given the rapidly moving BRICS financial infrastructure developments.

Yes, I am bullish on precious metals for a reason.

WTI crude oil pricing continues to climb with a morning price quote slightly above $84/bbl.

The 10 U.S. bond yield is 4.34% while the U.S. dollar remains strong at 105 per the DXY index.

Morning market futures are flat.

 

What is Gerry Up To Today?

There is a reasonable amount of shipping to be processed this morning followed by a trip into Windham as previously discussed. Once back home, I will be seeding the freshly prepared area to the left of the shrub garden followed by straw coverage. Afterwards, I will be back in the office dealing with emails and loading the new 1861-O lot into the COIN system.

I hope that you've enjoyed this Blog edition and might continue the visit with a tour of the 30 Day Price List. There are many new listings. Some are fresh GFRC buybacks and trade items while others are new purchases and/or consignments. I'm looking forward to responding to new purchase orders once back in the office by mid-afternoon.

Thank you so much for the time taken towards visiting the Daily Blog.

Be well!

 

 

 

July 3, 2024

New Lakeland Collection Offerings

and

GFRC is Closed on July 4th - No Daily Blog

 

Greetings on a Wednesday morning and welcome to the Daily Blog. Thank you for checking in.

All is well at the homestead with the Yamatin family simply hanging out in their digital world. Regardless of the walking trails and wide ranging natural attractions of the Fortin property, the Yamatins are most comfortable when sitting at that laptops and living online. Could this be the fact that urban dwellers have little desire to spend time in nature? Yes, nature does have insects which one must get use to and take the necessary steps for protecting one's body. Moving on....

This Blog edition will be brief as I'm sitting in the office with my outdoors work clothes on already. Once this edition is uploaded, I'm off to the barn to grease Johnny2's front loader followed by additional work on the shrub garden until late morning. Cooler morning temperatures will be taken advantage of while the afternoon will see me in the GFRC office. Since being a responsible business owner, overnight orders have already been responded to and placed on hold.

I'm pleased to report that the 1861-O die variety collection has reached the Maine distribution center and will be delivered today. This project will be moving forward quickly as we are nearly caught up with on-hand consignments.

The Mint State Liberty Seated quarter lot now has pricing approval and will be posted to the 30 Day Price List this afternoon. Already, the 1864 PCGS MS64 CAC lot is on hold. There is no surprise here as this specimen has eye appeal of a full gem along with a low CAC population. This lot is a Civil War era collector's dream piece.

 

New Lakeland Collection Offerings

Today's Blog showcase gallery is a three piece consignment from the Lakeland Collection. Let's focus on the two Liberty Seated dimes.

The 1857 dime is the F-109a die state and is fully struck. F-109a is a later die state where the dies exhibit significant amounts of die erosion leading to an "orange peel" texture in the fields. As a result, this lot exhibits a glowing satiny texture under a bright light. Rose toning is predominant along with some peripheral blues. This piece is difficult to illustrate given the nearly untoned center that is framed by darker shades.

The 1876-S is a truly special piece that belongs in an advanced Liberty Seated dime collection. Let's start with a Pittman pedigree followed by the fact that NGC has certified the lot as being Proof Like. There is no question that the fields are sharply mirrored, an atypical event for the date. This coin was last sold by GFRC during August 2017 with the following description.

Ex. Pittman, PL Designation On Holder, Untoned, Sharp Reflective Mirrors, Accurately Graded, Florida Collection. The 1876 San Francisco date is an enigma for Liberty Seated dime collectors. Mintage is a huge 10 million, but few examples survived in choice mint state or better. Based on the mintage, one would expect to see hundreds of example at the MS62 and MS63 grade levels. But that is not the case with only 36 examples listed in the PCGS population report. This date is definitely scarce in MS65 or better with no MS67s known. Now let's examine the Pittman example that resides in newer NGC holder with edge view insert. This specimen is the F-108 die pairing and is fully proof like with NGC designation on the label. Fields have considerable amount of die polish lines that contrast nicely with the frosty main devices. Additional die polish lines are seen on Liberty's upper body. Surfaces appear to be untoned during in hand inspection with a creamy white coloring. Under a bright light, the field coloring shifts to a faint gold. This is a very important opportunity to the serious collector of Liberty Seated dimes as one can acquire a Proof Like 1876-S example with Pittman pedigree. PITTMAN is listed on the NGC label.

New Lakeland Collection Offerings to Consider

               1857 F-109a NGC MS66 10C - $2350                                      1876-S Type 1 F-108 NGC MS65 PL 10C - $2495    

        

1908 ANACS PF64 CAMEO 25C - $1175

 

GFRC is Closed on July 4th - No Daily Blog

Thursday brings the United States Independence Day holiday. The GFRC office will therefore be closed for the day along with taking a break from composing a Daily Blog. I will be back bright and early on Friday morning.

 

Wrapping Up The Blog

My apology, but there is no financial discussion today as there is little to discuss. Markets and commodities are trading sideways going into the July 4th holiday. Honestly, I'm looking forward to my time in the outdoors while the temperatures are cool.

Thank you so much for the visit and your potential numismatic orders or consignments. I will be responding to morning emails during the afternoon hours.

Be well!

 

 

 

July 2, 2024

A Round of New Consignments to Consider

and

Special Mint State Liberty Seated Quarter Showcase

 

Greetings on a comfortable early Tuesday morning here in southern Maine. The sky is crystal clear blue along with a brisk breeze as 6:00 AM. Thank you as always for the visit.

Today's preamble will be brief to allow time for posting several consignment showcases. Worth mentioning is that the Yamatin family has settled into the homestead and is enjoying the amenities of a bed and breakfast venue. Yesterday's dinner treat was over two pounds of fresh scallops sourced from a fisherman's hut in Raymond. Believe me, there were no leftovers as the scallops were large and tender after being carefully grilled. Even Ayumi could not get enough of this seafood delicacy and ate a decent amount of Matt's portion.

Two afternoon hours were allocated to wrapping up the shrub garden's fill base layer. Now that I am pleased with the shape of the garden, the next step in laying weed mat along with a crushed stone application. This phase of the project will likely begin today after Johnny2's front loader pivot points are greased.

On the wildlife sighting front, a wild turkey family with at least 7-8 poults trailing the adults have decided to make the back acreage area their home.

 

A Round of New Consignments to Consider

Let's open the display with a three piece 1844 themed lot from the Port Matilda Collection. All three lots are perfectly original with the 1844-O eagle being particularly notable with even wear and classic copper green-gold eye appeal. The 1844 dated quarter and half are a well matched pair. My advice, if having the numismatic funds, is to purchase the three pieces as a lot and then build around this core holding.

1844-O PCGS VF30 CAC G$10 - $2200

      1844 Briggs 1-A PCGS EF45 CAC 25C - $375                                      1844 WB-13 PCGS EF45 CAC 50C - $500    

        

 

Next is a two piece Capped Bust half dollar lot from a regular West Coast consignor for consideration. The 1818 O-108 is a crusty steely example with a bold strike. The O-108 die pairing is easily attributed by the broken tops of the two 8 digits in the date and fondly known as the "lobster claw" obverse. The 1836 half is mirrored on both sides with faint field rub consistent with the grade. Checking the PCGS population report, only two 1838 Lettered Edge specimens have been awarded a PL designation and are strong five figure coins. Here is an opportunity to own a partially mirrored example at regular date pricing.

 1818 O-108 PCGS MS62 50C - $2250                                           1836 O-110 PCGS AU58 50C - $850 

        

 

Special Mint State Liberty Seated Quarter Showcase

GFRC is pleased to be showcasing a notable Mint State Liberty Seated quarter consignment that moved through the image processing stage on Monday. For your viewing enjoyment, here are those six lots. Die variety attributions are listed where I am confidence of their accuracy. For the 1845 and 1846 dated lots, the Briggs encyclopedia continues to be inadequate for a definitive variety conclusion.

Today brings a pricing assessment and proposal to the consignor for his approval. Once that approval is granted, these lots will be posted to the price list. My expectation is post these the the 30 Day Price List on Wednesday. In the meantime, please note these forthcoming lots.

 1845 PCGS MS64+ CAC 25C                                                                1846 NGC MS64 25C     

        

    1849 Briggs 1-A PCGS MS64 25C                                                      1870 Briggs 1-A PCGS MS62 25C    

        

   1872 Briggs 1-A PCGS MS65 25C                                                     1886 Briggs 1-A PCGS MS65 25C 

        

 

Global Financial News

The unexplained financial news of the day is the continued rise in the 10 Year U.S. Treasury bond yield which topped out at 4.47% yesterday and presently stands at 4.45%. CNBC reporting provides no explanation for the recent 10 year note rise. On YouTube, I was able to locate one discussion that correlations the 10 year yield action with a degradation in the Japanese Yen. The Yen continues to weaken and is quoting at 161 to the dollar. There are intricacies in the global central banking system that mere mortals like us have no insights to.

Otherwise, the S&P 500 continues its slow rise towards the 5,500 mark, a level that my money manager, Carlo, indicated was his 2024 year end goal. The opening quote is 5,475 with morning market turning negative with a nearly 0.5% drop at the opening bell.

Gold is quoting at $2320/oz with silver at $29.23.

Watch out as WTI crude oil pricing has increased to $84/bbl. The potential for a full scale Israel-Hezbollah war is the current culprit behind rising crude oil prices.

 

What is Gerry Up To Today?

Light shipping is the first order of the day followed by some quick image processing for a new Lakeland Collection consignment. This lot will be featured in Wednesday's Blog edition with offer prices. Additionally, I will be loading the fully priced consignments, in today's Blog, to the price list with the usual descriptions.

If USPS executes their Express Priority shipments on time, the 1861-O Liberty Seated half dollar die variety consignment, plus Scott Restrikes, should arrive this afternoon.

I will be in the office through 3:00 PM, then heading to the back acreage to lay weed mat and crushed stone in the forthcoming shrub garden.

Thanks again for making time and visiting with me at the Daily Blog.

Be well!

 

 

 

July 1, 2024

The Fourth of July Week is Upon Us

and

Numismatic and Homestead Odds and Ends

 

 

Greetings and welcome to the Daily Blog on yet another Monday morning. This week is special however as the July 4th Independence Day holiday arrives on Thursday.

I'm expecting a slow GFRC week as numismatics will be in the background as many clients are on holiday and are focused on other initiatives or adventures. Luckily, GFRC is not saddled with paying rent or making payroll as other major dealers are. Therefore, I'm in a position to roll with whatever outcome the week provides. Said another way, if wishing to purchase coins from the price list, I will work with clients on a prompt basis. If not, time with the Yamatin family and working on the backyard will be thoroughly enjoyed.

The Yamatin family has nicely settled into the homestead with 15 month old Ayumi being the center of attention. She enjoys exploring anything she can reach and does require constant supervision. Her acute awareness of surroundings and those watching her are fascinating. What a joy to have a full house again!

Content for today's Blog is slim. I did manage to load the entire Newtown Liberty Seated half dollar collection into the COIN system on Sunday as the day's primary accomplishment. Once that implementation is embellished a bit, I may just add the entire collection to the GFRC Online Auctions catalog without images for the time being as an initial marketing step. There are a host of superb pedigrees and exceptional gems that one would expect from a top end Seated half dollar collection. Let's see what I can get accomplished today.

Shifting attention to the backyard including the under construction shrub garden and surrounding area, following is an early morning image of the freshly seeded segment immediately behind the original settler's stone wall. Hint, the area covered with straw is the newly seeded land. We've enjoyed enough rain in the past 48 hours to kick start the seed germination process. I will probably spend an hour or two today on Johnny2 towards finalizing the shaping of the shrub garden and moving into the weed mat and crushed stone application phase. Like any other downward sloping surface, a heavy downpour will bring about immediate surface erosion. Such is the challenge of construction on a downhill incline. Please feel free to click on the below image to enjoy a higher resolution version as I'm quite pleased with this image as documentation of my hard work that will provide visual enjoyment for years to come.

 

Global Financial News

While American media is still focused on the Trump-Biden debate outcome, there are ominous developments in other parts of the globe. Most worrisome is an all out war between the State of Israel and Hezbollah. If this war does break out, it will quickly expand into a larger conflict between Israel and all of the Iranian proxies. If Iran itself, jumps into the war, then weapons of mass destruction of on the table if Israel's existence is threatened. At this point, we are no longer dealing with "if" but "when" as Israel has defeated Hamas.

The Ukraine-Russia war is becoming a development lab for military drone technology that will forever change how wars are fought. As Ukraine is resupplied with more weapons and now, F-16 fighter jets, this war will continue to go on with no end in sight.

BRICS economic trading developments continue at lightning fast pace while the western nations are focused elsewhere. The newest development is the establishment of a grain exchange among member countries with settlement in local currencies. If connecting the dots, this new "exchange" could quickly morph into a wholesale commodities trading platform with the potential significance of OPEC+.

The trading day starts with the S&P 500 at 5,460. Friday's benign PCE "inflation" report resulted in the 10 Year U.S. Treasury bond yield climbing to 4.41%. This is quite troublesome as inflation is working its way down but the benchmark Treasury yield is moving in the opposite direction. At this point, who in their right investment mind would want anything to do with longer term U.S. Treasuries?

WTI crude continues its slow climb and is quoting at $82/bbl to start the day.

Spot gold is clearly range bound and quoting at $2336/oz in London trading with silver following at $29.26. As reference, the Shanghai Gold Exchange closing number for gold was $2353/oz.

 

What is Gerry Up To Today?

GFRC shipping is the first priority followed by photography of the new Mint State Liberty Seated quarter lot.

I will be in and out of the office throughout the day but always checking emails and text messages for your orders.

So ends today's Blog edition. Thank you for the visit. Be well!

 

 

 

June 30, 2024

Announcing the 1861-O Seated Half Dollar Die Variety Consignment

and

Small But Important 1864 Consignment

 

Greetings on the final day of June 2025 and welcome to the Daily Blog. Thank you for visiting on a Sunday morning.

Yes, I am feeling so much better today than yesterday! The core issue was spending a full day working outdoors raking disturbed areas around the new shrub garden followed by mowing the entire lawn and brush hogging areas around the lower stone walls. Two bags of quality fescue and bluegrass were planted along with being covered with two bales of straw. Even with an N95 mask during mowing, the airborne pollen and dust took its toll. I've become use to being sensitive to spring pollen, autumn "hay fever", and especially cat dander. I cannot spend more than one hour in a home with a cat as my lungs quickly start reacting with whizzing and shortness of breath. One learns to live with allergic reactions as was the case yesterday.

The Yamatin family has arrived and are settled in for their two week stay. Ayumi is an incredible curious 15 month old who will get herself in trouble quickly as she is fearless with stairs and the like. Luckily, big sister Natsumi, who is already 9 years old, i is constantly watching Ayumi and helping provide Matt and Chikae with some downtime.

On the homestead front, the chipmunk scene is quiet after plugging yet another rodent on Thursday. Remaining is a single red squirrel and the usual cast of bushy gray squirrels. Once Maine Solar installs the the solar panels on the roof, steps must be take to eliminate roof access for the squirrels or their elimination. Squirrels have been known to chew on the PV interconnect wiring which would be problematic for us.

Let's move on to the GFRC business news.

With the final day of June 2024 upon us, monthly sales have managed to meet forecast given a strong Summer Baltimore show and The Two Specialty Set Auction Sale outcomes. Regular retail sales continue to be below expectations with U.S. gold being the primary culprit. Many consignors are helping the cause with pricing reductions. Those are greatly appreciated.

I've also conducted a fair amount of buybacks or trade deal to continue augmenting GFRC inventory with the incoming flow of regular consignments to sustain new postings to the 30 Day Price List.

 

Announcing the 1861-O Seated Half Dollar Die Variety Consignment

I'm pleased to report that our 1861-O Seated half dollar consignor has located the appropriate shipping supplies and we are set for Express shipments on Monday. The time has come to announce the contents of this complete 1861-O die variety set along with three Scott Restrikes. Let's remember that there are two different Scott restrikes. The first to be produced is a pairing of the CSA Scott Obverse with the Confederate Reverse followed by the true restrikes with planed 1861 New Orleans dated Seated halves as the planchet. All lots are PCGS certified except for one of the two Scott CSA restrikes.

The story of the Scott Restrike CSA half dollars is best shared via a September 1923 letter to M.L. Beistle from David Proskey, an employee of the J.W. Scott and Co.

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

Following is a listing of the forthcoming 1861-O Seated half dollar die variety offerings. Given the strong response from a host of 1861-O die variety specialists and Seated half dollar collectors in general, this lot will be offered as a mini-auction event to ensure that everyone has a fair shot at these pieces. That event will take place during the second half of July. Please feel free to copy the TPG Certification numbers into PCGS Verify to secure potential images.

Date	Mint	Variety	TPG	Grade	CAC	TPGCert
1861	O	US  W-01A	PCGS	AU 50		38583420
1861	O	US  W-01A	PCGS	XF 40	yes	19529931
1861	O	US  W-02	PCGS	MS 62		40901912
1861	O	LA  W-03	PCGS	XF 45	yes	33183695
1861	O	LA  W-04	PCGS	VF 35	yes	30604029
1861	O	LA  W-05	PCGS	AU 58	yes	42494082
1861	O	LA  W-06	PCGS	AU 53		33275602
1861	O	LA  W-07	PCGS	AU 58		33410240
1861	O	LA  W-08	PCGS	MS 62		20958381
1861	O	CSA W-09	PCGS	MS 61		42494083
1861	O	CSA W-10	PCGS	AU 53	yes	40593526
1861	O	CSA W-11 eds	PCGS	XF 40	yes	42494084
1861	O	CSA W-11obv	PCGS	MS 60		21562915
1861	O	CSA W-13	PCGS	AU 58	yes	13280906
1861	O	CSA W-14	PCGS	AU 55		82640206
1861	O	CSA W-15	PCGS	UNC dtls		32463513
1861	O	CSA W-15	PCGS	VF 35	yes	30624477
1861		CSA Restrike	PCGS	AU 55		28971047
1861	(O)	CSA Res./W13	NGC	MS 61		6058560-004
1861		CSA Scott Res.	PCGS	MS 64	yes	50013710

 

Small But Important 1864 Consignment

Also shipping to the GFRC office on Monday are two important 1864 dated lots that provides notable eye appeal along with being Civil War era issues. Here are the PCGS TruViews to whet your appetite. Offer prices will be immediately confirmed after their arrival.

1864 Large Motto PCGS PF65RB CAC 2C

1864 PCGS MS64 CAC 25C

 

Wrapping Up The Blog

Today finds me in the GFRC office during the morning hours with my whereabouts unknown during the afternoon.

Dave Wilkinson has delivered another 16 years of fill and 6 yards of crushed stone that will allow me to keep going with the shrub garden and surrounding area improvement project.

I'm always watching for GFRC orders and consignment proposals with a track record of responding quickly to either.

I hope that your Sunday is a pleasant one wherever your location might be. Thanks as always for dropping by. Be well!

 

 

 

June 29, 2024

A Little to Say Blog Edition

 

Greetings and welcome to the Daily Blog on the final weekend of June 2024. The July 4th holiday is right around the corner.

As the headline indicates, I have little to share this morning. Yesterday's full day working outdoors has brought about a decent bout of nasal and eye allergies which is no fun. The news media is enthralled with the presidential debate and the potential consequences for the Democrats. There is little of substance to read and share otherwise.

Matt and family arrive for their two week holiday visit this afternoon. Therefore, preparations are underway for hosting the Yamatins including stocking the frig with tons of food and the pantry with snack items that Diane and I would no longer consider consuming.

As for GFRC news, we are nearly through The Two Specialty Set Auction Sale shipping stage with some stragglers going out on Monday. The 30 Day Price List is chocked full of new offerings including buybacks and consignor price reductions. I've just done yet another trade deal that will bring back a lot of previously sold GFRC items.

Honestly, my allergies are quite bothersome with little energy for creating content. As a result, let's sign-off at this point. Hopefully, I will feel better tomorrow and a bit more creative.

Thank you for stopping by as I wished to offer more. That is just not the case this morning.

Be well!

 

 

 

June 27, 2024

1872-CC PCGS VF25 CAC 25c Posted to the Price List

Mint State Seated Quarter Consignment Preview

and

Working on the Land on Friday - No Blog Edition

 

Greetings on a Thursday morning and welcome to the Daily Blog. Thank you as always for visiting these ramblings.

A bachelor no more.... That is right, Diane is back home after a week in Austin with Renee's family. She returns just in time for the arrival of the Yamatin family on Saturday for a two week visit. Matt, Chikae, Natsumi, and Ayumi will be settling in for a multi-week holiday in the countryside as compared to their Brookline Boston lifestyle.

Yesterday brought a good day on the pest control front as two chipmunks were plugged in the matter of 15 minutes. My Gamo air rifle has an issue, therefore hunting was again accomplished with my father's 0.22 long rifle pistol with the usual shot shells. After several years of dealing with chipmunks in the front landscaping, learnings have taken place. Chipmunks will react to movement. But if approaching them via a blind spot (behind a low bush screen), they will not sense any danger until it is too late. After plugging these two rodents, there has been no further activity outside the office window. Let's see how long the calm lasts.

Thursday also brought the ship ahead of another ten Two Specialty Set Auction Sale lots. The shipping backlog is now manageable with Diane helping out today. This will allow me to continue adding more coins to the 30 Day Price List today.

Lastly, the response for the forthcoming 1861-O Seated half dollar die variety set consignment (plus Scott restrikes) continues to expand. Our challenge is transport with securing supplies from his local USPS post office. It never ceases to amaze me at the amount of misinformation that is provided to inexperienced clients by USPS counter staff. The consignor was told that USPS no longer offers Medium Express shipping boxes as a first issue (which is an untruth or whatever). So now, the shipment is dependent on the consignor locating a basic piece of shipping material. He must also locate an Express Priority padded envelope....Lord help us! At this point, there is no forecast for when this consignment will be shipped.

While on the USPS topic, I can empathize with consignors shipping coins to GFRC. On Tuesday, one of the auction shipment was an Express box with Signature Confirmation. I specifically pointed out the checked box on the Express form and the need for Signature Requested on the paper receipt when surrendering the box. This fairly new counter person processed the order and produced a paper receipt with Signature Waived as unaware of the default setting on the USPS system. She called the postmaster for help, who then voided the transaction and pointed out the computer menu where staff must select Signature Required. If not attentive, I would have shipped a five figure box without insurance coverage.

Station Break! A moose just walked through our backyard into the neighboring Dodson property as reported by Diane. Unfortunately, I missed the sighting since being on the road side of the homestead.

 

1872-CC PCGS VF25 CAC 25c Posted to the Price List

Liberty Seated quarter collectors may wish to note that a perfectly original 1872-CC quarter certified PCGS VF25 with CAC approved has been posted to the price list. Again, this is a fresh buyback from a client that needs a quick cash infusion. He hated letting this piece go, that is for certain.

1872-CC PCGS VF25 CAC 25C - $16,950

 

Mint State Seated Quarter Consignment Preview

Continuing with the Seated quarter denomination, a six piece Mint State consignment also arrived on Wednesday and is illustrated next. Clicking on the image will provide access to a higher resolution version for closer inspection. Already, there is a first request for several of these lots. I will try to secure offer prices today, but worse case by this weekend.

 

Working on the Land on Friday - No Blog Edition

Friday brings a drop in southern Maine temperatures as a cold front moves through. The early morning lows will be in the high 50s with a forecasted afternoon high temperature of only 72F under sunny skies. These conditions are ideal for spending the day outdoors and tackling the fine grading and seeding of the disturbed areas surrounding the new shrub garden. The lawn also needs to be mowed add dealing with black ants that somehow find their way into the homestead if not regularly controlled. There is much planned for tomorrow with an early 6:00 AM starting time being warranted. As a result, there will be no Daily Blog edition. Thank you for the understanding as emails, text message and phone calls will be responsed to later in the day.

 

Global Financial News

Before going further, let's acknowledge this evening's presidential debate which I will not be watching. My bedtime is now between 8:00 - 9:00 PM which enable early morning starts to a new day. I'm certain that there will be endless video highlights to take in at a later time.

Moving to the U.S. economy, there are continued signs of a slowing. Just this morning, Walgreens announced a weak profit forecast due to challenged customers. Just like the U.S. coin market is bifurcated, so is the U.S. economy. Most Americans are struggling with high inflation and debt. Few can afford new homes or to sell their existing homes due to mortgage interest rates. Then there is the top 10% of the citizenry which sufficient wealth in equities and other investments that are not impacted by increasing costs to maintain a lifestyle. The key question is whether the top 10% can sustain the entire U.S. economy?

Looking at the key numbers, the 10 Year U.S. Treasury bond yields is moving back up with a quote of 4.32%. In conjunction, the U.S. dollar has increased to nearly 106 per the DXY index. This is placing pressure on gold and silver pricing which is struggling to hold recent gains.

Spot gold is quoting at $2318/oz after closing at $2335 in Shanghai. Silver is trading at $28.85.

The S&P 500 continues its slow moving rally and stands at 5,478. Friday brings a much anticipated inflation report for May. This report is now called the Personal Consumption Expenditures Price Index. Once this report drops, the speculation for the first Federal Reserve interest rate cut will become intense.

 

Wrapping Up

Today brings another day in the GFRC office with more image processing and price list updates. I've been delinquent in posting the Mirror Collection's Seated half dimes that we featured in the Blog and then moved into the inventory boxes for Summer Baltimore. These will be posted to the 30 Day Price List on a priority basis.

Again, there will be no Blog edition on Friday as I'm taking a well deserved day off from the office.

Thanks again for stopping by. Be well!

 

 

 

June 26, 2024

More Two Specialty Set Auction Sale Shipments Today

New Consignments Preview

and

A Backyard Image to Enjoy

 

Greetings on a beautiful southern Maine morning and welcome to the Daily Blog. Thank so much for the visit.

The view out of the office window is wonderfully pleasant this morning with the various shades of green contrasting against a sky blue backdrop. The usual early morning bird activities are also enjoyable if there was sufficient time to watch rather than typing at a keyboard. It seems like my time is a tug-of-war between enjoying nature and the GFRC business demands with the latter winning most bouts. Such is life, but change is always possible.

Diane returns from her Austin visit today, therefore the homestead needs to be tidied up a bit on top of everything else on the day's agenda. Come Thursday, Diane will be able to help with the auction shipping and providing some relief.

Tuesday brought yet another non-stop day with the first round auction shipping, a trip into Windham to purchase more grass seed and straw, and finally, grocery shopping. I was in bed by 8:00 PM as tired from the ongoing long days.

Come Friday, the weather forecasts indicates cooler temperatures with rain showers during the weekend. I am taking a partial day off from the GFRC business to hand rake the newly prepared land around the shrub garden following by seeding and covering with straw.

On the numismatic front, I'm working with the owner of the 1861-O die variety set plus his multiple Scott restrikes towards getting these shipped to the office. The total insured value for the lot is $90,000, a substantial consignment. So far, four individuals have asked for first shot at these lots which puts me in a the usual First Right of Refusal quagmire. The fairest approach to selling this lot will most likely be a mini-GFRC Online Auction to give everyone an equal chance at the individual pieces.

Concerning other breaking new product news, GFRC has just bought back a significant Liberty Seated quarter. Our long term client is going through some health issues and needed to raise cash. Please feel free to check the Sales Archive for the prior sale time frame and price plus description as this is a super example. Following is an image of that lot for your potential interest.

Fresh GFRC Buyback

1872-CC PCGS VF25 CAC 25C

 

More Two Specialty Set Auction Sale Shipments Today

As mentioned in the preamble, at least fifteen auction shipment went out the door on Tuesday with today's goal is to ship another ten or so packages based on who has emailed back with check payment confirmation. I'm sorry, but if you are a first time bidder or GFRC client, the ship ahead courtesy does not apply. Your check must arrive first, then shipment will take place.

 

New Consignments Preview

Come Thursday, new consignments will be garnering my attention. Following is a quick illustration of new consignments that have arrived in the past few days. I'm sorry, but none have been priced so please wait until they reach the price list before making requests.

 

A Backyard Image to Enjoy

In Tuesday's Blog, an early morning backyard image was presented with heavy shadows. This image was probably not worth publishing. Following is a much better image taken at noon time yesterday that nicely illustrates the new shrub garden layout. Clicking on the image provides access to a higher resolution version.

 

Wrapping Up The Blog

Let's end the Blog here as an extra hour of time will be helpful towards getting stuff accomplished today.

Thanks again for stopping by. Be well!

 

 

 

 

June 25, 2024

Auction Shipments Consume the Day

and

The Shrub Garden and Landscaping is Ready for Planting, Well Almost!

 

Greetings and welcome to the Daily Blog on a Tuesday morning. Thank you so much for returning to our regular ramblings.

My day started at 4:00 AM after heading to bed early on Monday. Exhaustion was the reason for the early bedtime after spending a full day in the sun on the newest homestead project. Between no lunch, being mildly dehydrated, and generally sore, I was physically wiped out.

Today's goal is a massive effort to clear out as much Two Specialty Set Auction Sale shipping as possible. Therefore, this Blog edition will be brief and published early.

Let's get to the core news which is a visual update of the backyard results with Dave Wilkinson's support.

 

The Shrub Garden and Landscaping is Ready for Planting, Well Almost!

It is a great feeling when a visualized concept is turned into reality. Since being dyslexic, I have a strong visualization gift for both abstract and physical concepts. The shrub garden layout appeared one late afternoon while hanging out on the back deck and trying to determine how to transition the former burn pit into a visually pleasing display. The idea of a terraced view come to mind with framing by the construction of yet another stone wall as rock is a free resource on the property.

Yesterday brought that visualized idea to reality. Following at three images that provide a status update. Clicking on the images will provide access to a higher resolution version.

This image was taken facing towards the Maine coast and showcases the complete stone wall and forthcoming planting area. One can see the rip-rap drainage trench in the foreground which will ensure that downhill flowing water will be directed around the garden. The next steps are adding a bit more fill in select locations followed by placing weed mat and coverage with 1.5" crushed stone. Diane and I have yet to design the garden layout or make a planting selection. That task can be accomplished during late August or early autumn.

 

The second image presents a northeast facing view of the back side of the settler's stone wall that has been fully conserved. It is yet another impressive structure on the property. The disturbed areas in the foreground and towards the property line are ready for a final raking followed by grass seeding and straw coverage. The downhill property slope is readily evident in this image and the basis for the rip-rap drainage channel. Finally, please note the dark rain clouds that opened within minutes of this image being taken.

 

This final image was taken at 6:00 AM this morning since it began to rain after Dave and I wrapped up on Monday. Note the shadows are driven by a rising sun in the eastern sky. Unfortunately, the new stone wall is in the shadows but I believe that you will secure an idea of the improved back deck view. How I enjoy relaxing on the back deck at the end of a GFRC day overlooking the product of several years of intense improvement activities. The final project, which is massive, is clearing the tree line towards having an unfettered view of the coastal horizon. I'm still waiting for a job date from Tip Line Tree Service and will be giving them a gentle nudge in the coming days.

 

I hope that you've enjoyed this presentation. My apologies, but this concludes today's Blog edition. It is already 6:40 AM with a shower being next on the agenda followed by a full day of auction shipping.

Thank you again for the visit.

Be well!

 

 

 

June 24, 2024

A Bullet Point Daily Blog Edition

and

Dave Wilkinson is Back for Another Excavator Session

 

Greetings everyone and welcome to a brief Daily Blog edition. Thank you for taking time to check in.

There is little time for a long edition as Dave Wilkinson arrives in just an hour's time. Therefore, let's revert to my semiconductor days with a bullet point presentation. This will facilitate sharing GFRC updates in a quick and concise manner.

 

GFRC Online Auctions Update

- All Two Specialty Set Auction Sale invoice were issued with the exception of four lots. I will get those done today before going to bed. Sunday saw me in the GFRC office from 4:00 AM to 9:00 PM.

- Auction ship aheads will begin on Tuesday and continue into Wednesday. Committing that a check is mailed, against the invoice, will facilitate a ship ahead.

- Unsold lots are now posted to the 30 Day Price List. Already the 1866-S JBN dime has sold.

- I will get to the Collectors Corner posting on Tuesday

 

Fresh Consignment News.

- GFRC has been awarded a new six piece Liberty Seated quarter consignment.

- All lots are Mint State including 1845 PCGS MS64+ CAC, 1846 NGC MS64+, 1849 PCGS MS64+, 1870 PCGS MS62, 1872 PCGS MS65, and 1886 PCGS MS65

- I will accept First Rights of Refusal for these lots. Please email me with interest. First shots will be awarded based on the email time stamp. No text or phone calls as I'm working outdoors today.

- A smaller Capped Bust half dollar consignment has arrived and will be discussed tomorrow.

 

Financial News

- Can you believe that the U. S. government wishes to guarantee and nationalize second mortgages? https://mises.org/mises-wire/state-wants-nationalize-second-mortgages-what-possibly-can-go-wrong

- Spot gold is trading at $2326 and silver at $29.70/oz. Gold closed its Shanghai Gold Exchange trading session at $2383. The east-west gap is notable.

- WTI crude is priced at $81+/bbl.

- 10 Year bond yield is flat at 4.26%.

- Morning market futures are flat.

- I've asked Carlo to assess the risk/reward ratio for equities during the second half of 2024. Other than big tech, rest of market appears weak with banking sector at risk.

 

What is Gerry Up To Today?

- Dave Wilkinson arrives at 7:30 AM to complete the shrub garden project

- I will be in the back yard the entire day working with Dave.

- Emails will be responded to after dinner if there is still any energy left after a shower and adult beverage, else tomorrow.

 

Thank you for visiting, be well!

 

 

 

June 23, 2024

A Strong Close to The Two Specialty Set Auction Sale

and

GFRC-Lite Enjoys Successful Raleigh Show

 

Greetings on a Sunday morning and welcome to the Daily Blog. Our thanks to the community for staying current with GFRC events.

The weather people have been spot on for this weekend. Saturday saw heavy rain in the morning followed by partial clearing during the afternoon hours. Today brings fog and light rain throughout the day.

Saturday afternoon brought Dave Wilkinson back to the homestead to repair his excavator. The old tough Irishman swore a few times and asked why he did not not pursue a career selling stamps. It was all in good fun with the excavator back in action for Monday morning. The excavator was repositioned for unloading a delivery of rip-rap stone into the drainage channel first thing upon his arrival. Here is a sneak peak of the new stone wall progress along with the forthcoming garden area as seen from the back deck.

 

A Strong Close to The Two Specialty Set Auction Sale

Another GFRC Online Auctions event has transitioned into the history books with robust bidding throughout Saturday. The afternoon hours brought a bidding flurry for several of the Cumberland County key and semi-key date Walkers much to my pleasant surprise. During the final auction hour, often called "the finale", the usual intense bidding took place for the JBN Liberty Seated dimes. When the dust had settled, some bold winning bids were apparent. One cannot dismiss the fact that premium CAC approved coins will sell for very strong numbers. The JBN Collection's strategy of employing lower reserve bids worked like a charm and provided for an active bidding environment.

I'm certain that readers are interested in the final auction statistics. An early morning tally indicates that 68 of the 119 offered lots sold during the auction along with two incremental lots being purchased at the reserves. Simple math indicates a 57% sell through rate as compared to yesterday's 55% forecast. Moving on to the total winning bids amount, I may have been too conservative with the forecast. A tally of all the winning bids revealed that a $96,000 number was achieved. This was well beyond the $78,000 prediction. I could not be more pleased for both the JBN and Cumberland County consignors.

Today brings the usual post auction administration effort. The first step is loading winning bidders and bids into the COIN system. Afterwards, invoices will be prepared and emailed to all successful bidders. Next comes the preparation of shipping boxes and won lots. The final task of the day is moving the unsold lots to the 30 Day Price List followed by a Collectors Corner posting.

My sincere thanks go out to everyone who participated in the auction sale and congratulations to those that secured one or more lots.

 

GFRC-Lite Enjoys Successful Raleigh Show

Rich Hundertmark is all smiles as he shares the follow image and Raleigh NC show report. Way to go Rich!

Hi Gerry,

It’s summertime hot here in North Carolina with temperatures hitting 100 degrees. What ‘s hotter? How about GFRC-Lite sales that got off to a strong start Thursday evening with early birds and didn’t slow until Saturday.

Before getting to the show highlights, I’d first like to mention that Raleigh Club Bourse Chair Jeff McCauslin did a fantastic job in his last go round in this volunteer role for the club. It’s a large show club event with 160 tables, and volunteers that take on this enormous task work year-round to make the event successful. This was also the club’s 50th show anniversary and it was very well run from beginning to end. Kudos to the Raleigh coin club and the work they do supporting numismatics, especially with the young collectors.

Lite setup shop around 5:30 on Thursday evening and immediately kicked off the show with 4 sales literally right out of the boxes. Certified Walkers, Morgans and Peace dollars were the ticket here, a good sign for my large denomination case which indeed continued to produce throughout the show.

Lite’s certified small denomination case also tallied sales with early copper leading the way, a key date 1877 Indian Cent graded NGC AU58BN a notable sale.

The raw case also continues to produce at the smaller shows, many times dealers will cherry pick the case with a multiple coin order. This also happened this show with six Seated Liberty 25C, 50C and oh yes a EF 1889 3CN accounting for a nice transaction.

Friday’s sales continued strongly, with a typically slower Saturday that had a decent attendance but more tire kickers. By 4:30 I began to pack and was able to get home by 7pm and enjoy a cold adult beverage as reward for my efforts.

Here are a few show stats illustrating how strong this show was and how Lite had increased its offering.

- 17 different consignors registered sales. 
- 45 coins sold with certified coins totaling 22 and raw coin sales at 23.
- Certified coins accounted for 70% of dollar sales, the lower priced raw the remaining 30%. 
- The focus Seated Liberty category sold 24 coins

Finally, Lite was also able to do a bit of show buying. A new purchase highlight was certainly an 1858LL 1C MS61 CACG. It’s also Lite’s first CACG coin to inventory and I’m glad I found it given the limited time I had on the bourse to go shopping. The pop in MS61 is 1 and it’s certainly as nice (or nicer) than many scuzzy MS62’s I’ve seen. This piece offers tremendous eye appeal with a strong strike. I’ll have pictures up in the next few days for many of the new arrivals. 

Looking forward, the next show for Lite is right around the corner, July 27,28 in Annandale Virginia.

Lite is actively looking to add consignments to replenish inventory to continue momentum. If you have coins in the $100-$500 range and are considering selling, Lite would be interested in discussing how it might be of assistance.

Thanks to all the blogamaniacs for reading.

 

Wrapping Up The Blog

Thank you for checking in as the GFRC and GFRC-Lite numismatic news has been quite upbeat today. There is little else to share and best to get on with a long office day.

As a reminder, auction ship aheads will begin on Tuesday since Dave Wilkinson is back on Monday to wrap up the shrub garden project.

The 30 Day Price List continues to be actively updated for your potential collecting acquisitions including the unsold auction lots that will appear after dinner time.

Be well!

 

 

 

June 22, 2024

The Two Specialty Set Auction Sale Finale is Tonight!

CAC Approved $20 Gold to Consider

and

Happiness in Working on the Shrub Garden

 

Greetings and welcome to the Daily Blog on a Saturday morning. Thank you so much for checking in.

Rain can be viewed as a blessing as such is the case for southern Maine this weekend. The past several weeks have been on the dry side with today's and Sunday's rainy weather being welcomed with opened arms when managing a large property and its associated landscaping. Said another way, rain is a landscaper's gold.

Today's Blog edition has three main topics, therefore let's get going as there is a full day of office work after these ramblings are uploaded.

 

The Two Specialty Set Auction Sale Finale is Tonight!

Like magic, bidding picked up on Friday now that the contemplation period is in the rear view mirror. Bids for the Cumberland County Walkers continued to arrive for mostly the middle dates and short set lots with no one stepping up for an incremental early dates. This is surprising as the finest lots in the auction sale are the early dates through 1929-S that were highlighted yesterday. As they say, one can bring a horse to water, but you can't make it drink. Hopefully, this situation will change today.

An early morning auction status tally revealed that we are at a 49% sell through rate (58/119 lots with bids) and $61,000 in total bids. The latter number is only 30% of the reserve offerings.

It is tradition that GFRC will offer a forecast for the closing auction stats on a Saturday morning. Honestly, this auction is very difficult to forecast as the Walker early dates are the key to the puzzle. If there is bidding today for the early dates, this auction will be a notable success. If not, then the current numbers are in the realm of where this auction will wrap up. I'm going with a conservative forecast and hope to be pleasantly surprised come the auction close at 9:00 PM.

My gut feel is that the sell through rate will increase to 55% and the total winning bids will close at $78,000.

This auction is now in your hands with my gratitude for each and every bid. Please check back on Sunday morning for the auction summary and closing tally.

 

CAC Approved $20 Gold to Consider

When chatting with a potential bidder for today's closing auction, I was called a "gold hawk". This description is accurate as I'm now so bullish on physical gold given the rapidly developing BRICS situation and the dedollarization trend that is currently under way.

At the Sumer Baltimore show, the following four $20 gold pieces where added to inventory and made it to the showcases. Yesterday brought photography and image processing to enable the following display. All lots are offered at substantially below the CDN CAC Price guide values as I purchased these pieces right. All are premium examples with two of the four being offered in new CACG holders. Look for their posting to the 30 Day Price List this morning.

One can never have enough premium physical gold stashed away for a rainy day with these lots being an opportunity to acquire more.

 

New GFRC CAC Approved $20 Gold Offerings

 1901 PCGS MS64 CAC $20 - $3475                                                      1909-S CACG MS64 G$20 - $3650 

        

 1910-S NGC MS63 CAC G$20 - $3350                                                     1911-S CACG MS64 G$20 - $3450    

        

 

Happiness in Working on the Shrub Garden

As indicated in Friday's Blog, the afternoon was spent working on the new shrub garden project. What a joy to be out in the "backyard" on a cool day with occasional sprinkles and moving dirt and rocks about.

The afternoon's goal were twofold. First was laying professional weed mat down inside the drainage trench followed by dumping enough rip-rap stone to keep the fabric in place. Second was scouring the sides of the back acreage trails for boulders and larger stone that will facilitate the balance of the new stone wall's construction. There is never a lack of rock on the property with the only issue being size and within the range of Johnny2's front loader lift capability. Johnny2 can lift nearly 1500 lbs off the ground but moving around on uneven surfaces with a 3/4 ton boulder on the front of the tractor can be challenging and at time unnerving.

This opening image illustrates the drainage trench status. At this point, the trench is ready for a 6 yard load of rip-rap stone that will be hand placed by Dave's excavator. The weed mat is 4' wide with another section being added at the top of the trench immediately beyond the crushed stone. Elevation is difficult to assess in this image. Please be assured that it is a substantial drop from the top of the crushed stone to the end of the trench. The upper trench side walls are also steep and will need more fill to make this area accessible with a riding lawn tractor. The large boulder to the right of the upper trench is a monster and easily weighs in at over one ton. Dave will be adding this dug up boulder to the stone wall once his excavator is operational.

This second image illustrates the amount of stone that was transported on Friday afternoon. From this vantage point, the pile appears to be small, but believe me, there is sufficient material here along with the monster boulder (above) to complete the final arcing section of the stone wall. Behind Dave's excavator is a freshly cleared brown dirt area that is replete with field stone. This field stone will be hand loaded into Johnny2's front bucket and placed on top of the new wall as a "skin" on top of the larger skeleton. My goal is to also convert this newly disturbed area into a mowable surface. It is current soft and will need to be packed down along with being cleared of all rock and exposed roots.

 

What is Gerry Up To Today?

Given the forecasted rain across the weekend, you will find me working in the office for both days. Today's focus will be 30 Day Price List additions. Sunday brings the usual post auction COIN system updates followed by creating and issuing invoices.

Since Dave Wilkinson is back on Monday, auction ship aheads will begin on Tuesday.

Thank you so much for taking in another Daily Blog edition. Good luck to those who plan on bidding during The Two Specialty Set Auction Sale finale that typically kicks in at 8:00 PM.

Be well!

 

 

 

June 21, 2024

The Two Specialty Set Auction Sale Closes Tomorrow!

and

GFRC to Handle Complete 1861-O Seated Half Dollar Variety Collection?

 

Greetings on a Friday morning and welcome to yet another Daily Blog edition. We are so pleased with the ongoing readership.

Thursday's southern Maine weather forecast was spot on! The mercury peaked in the high 90s before the late afternoon thunderstorms arrived. At first, I could hear thunder in the distance and more centered over Portland. Afterwards another round of black clouds moved north of the homestead. But it was only a matter of time before the main event arrived and that it did. The heavy rain was most welcomed to fuel the vegetation and to recharge the spring that feeds the back acreage pond. During the latter part of the storm, I went out with LL Bean rubber boots and an umbrella to check on the new drainage trench and if it was performing as planned. What a surprise upon crossing through the settler's stone wall opening as there was no flowing water. The ground was so dry that all the rain was being absorbed rather than flowing on the surface.

A Blog reader asked about the status of the 1993 Miata. Yes, I failed to close that chapter. I'm relieved to report that the Miata has been back in the garage for a week plus and is running mighty fine. The issue was a cam shaft sensor that had failed. Mark, at Automotive Everything, conducted a diagnostic journey and located the bad sensor. After being replaced, the Miata feels like its has a bit stronger throttle with a more vocal exhaust sound. So all is good with our antique two seater.

Today brings unsettled weather with on and off showers in the morning and a high of 77F with cloudy conditions in the afternoon. You can bet that I will be working on the new shrub garden project during the afternoon hours, specifically focused on lining the drainage trench with professional grade weed mat and an initial layer of rip-rap. To fully fill the trench, a load of processed rip-rap, from Dave, will be necessary. I could use the exposed field stone in the newly cleared areas but would rather reserve those natural rocks for the "skin" on the new stone wall.

Since Saturday brings day long rain and Sunday is committed to auction invoicing, today is the day to move along the new project including transporting more boulders and rocks for completing the new wall. Johnny2 will certainly be busy until dinner time.

 

The Two Specialty Set Auction Sale Closes Tomorrow!

Bidding continued to be steady for The Two Specialty Set Auction Sale lots throughout the contemplation period. On behalf of the consignors, we are grateful for the activity and community support.

Current auction statistics stand at 51 lots with bids which calculates out at a 43% sell through rate. A quick tally of current bids brought a $54,500 number or approximately 27% of the initial $205,000 reserves.

The JBN Collection lots are well subscribed with 23 of the 30 lots guaranteed to move to a new collector home. A 77% sell through rate is quite impressive with two days of bidding to go.

Bids continue to arrive for the Seated quarter and half dollar lots from the Saw Mill Run and Spring Branch Collections. The following four lots are notable and come with my recommendations since not securing a bid as of this morning. It goes without saying that an 1891 Seated quarter graded MS65 with Gold CAC approval is the ultimate type coin. How about two first year San Francisco halves to consider? Astute collectors of the series recognize how challenging this date when fully choice. The arrival of a choice Mint State example is very noteworthy and an opportunity. For CAC centric collectors of circulated grades, the PCGS EF40 specimen should be a no-brainer as where and when will you find another that is equivalent? Finally, the 1865-S half brings the WB-7c die state which is prior to the full cud on the reverse (WB-7d).

Recommended Saw Mill Run and Spring Branch Lots!

 1891 PCGS MS65 Gold CAC 25C                                                         1856-S WB-2 PCGS MS63 50C 

        

 1856-S WB-6 PCGS EF40 CAC 50C                                                      1865-S WB-7c PCGS AU58 50C    

        

 

The remaining challenge is stimulating interest in the Cumberland County's early Walker dates (1916 through 1929-S) along with the proof strikes starting in 1936. This is where the majority of the financial value is located along with the bulk of the effort by our husband and wife team towards assembling a premium set. Following is a reminder of the early date pieces that have yet to garner an bid including the key date 1921 and 1921-D.

Needing a New Loving Home - Cumberland County Early Date Walkers

 1916-D RPM FS-501 PCGS MS65 CAC 50C                                             1916-S PCGS MS64+ CAC 50C       

        

1917-S Obverse PCGS AU58 CAC 50C                                            1918 PCGS MS64 CAC 50C

        

   1918-S PCGS MS64+ CAC 50C                                                          1919 PCGS AU58 CAC 50C 

        

     1919-S PCGS AU58 CAC 50C                                                          1920-D PCGS AU58 CAC 50C 

        

 1920-S PCGS MS64 CAC 50C                                                             1921 PCGS AU58 CAC 50C 

        

    1921-D PCGS AU55 CAC 50C                                                       1923-S PCGS MS64 CAC 50C 

        

   1927-S PCGS MS64 CAC 50C                                                        1929-S PCGS MS65 CAC 50C 

        

 

Once again, GFRC is offering layaway terms for this auction event. If needing extra time to complete a substantial four figure purchase, I can offer a three payment approach across 60 days. Our goal is to sell these lovely Cumberland County Walkers and if a layaway makes the difference, then please contact me asap before bidding.

Good luck to everyone who is currently a high bidder. We will see where the lots are eventually heading to come the finale on Saturday evening.

 

GFRC to Handle Complete 1861-O Seated Half Dollar Variety Collection?

There is never a dull moment in the GFRC office which is a good thing.

Yesterday brought a conversation with a long term collector of 1861-O halves at the Wiley die variety level. The 1861-O set contains 15 entries with 14 being collectible other than the W-12 CSA four piece strikes. This individual has painstakingly assembled his die variety set with grades ranging from EF40 through MS62 with 50% or so being CAC approved. All 14 pieces are housed in new PCGS holder with the Wiley attribution on the label. In addition to the core 14 piece set, there are duplicates, different die states, and the Scott restrikes.

Our past client now has the GFRC Excel template for creating a shipping invoice and is working through that process including defining the insured value for each lot. We have agreed that the insured value should be close to the planned offer price.

Stay tuned for more insights into this developing story.

 

Global Financial News

By now, Blog readers should accept the fact that I'm a huge proponent of physical and even paper gold. The world is undergoing a historical political realignment and will be multi-polar for the rest of my lifetime. While the west is developing high technology at breakneck speed, the east is focused on natural resources and commodities. Defense spending across the global is accelerating which does not bode well for peace and stability.

Seeking Alpha published the following concerning the growing deficit spending trend that cannot continue forever and will never be repaid since entitlements and defense spending are untouchable.

The federal budget deficit is expected to swell to around $1.9T this year, according to the Congressional Budget Office, which was higher than its previous estimate of $1.5T. This takes into account increased spending for student loans and Medicaid as well as the recently passed $95B foreign aid package. National debt is even poised to top $56T over the next 10 years, or 122% of GDP, surpassing the 106% seen in 1946 after World War II. Meanwhile, the eurozone is facing debt issues of its own, with the ECB warning eight of its members - including Belgium, France and Italy - over their excessive budget deficits.

Simply stated, excessive deficit spending equals high interest rates to fund the borrowing along with price inflation. Currently, my financial strategy is a balance of short term bonds, quality equities, and commodities including the oil sector, gold, and silver. If anyone has a better alternative, I would like to hear those thoughts.

Looking at Friday's metrics....

Spot told has broken out of its recent trading range and is quoting at $2366/oz as the Blog is composed. This compares to the Shanghai Gold Exchange closing price of $2377/oz. If does appear that Shanghai is in the driver's seat for gold price setting.

Silver is selling at $30.45/oz along with WTI crude holding recent gains at $81.23/bbl.

The S&P 500 starts the day at 5,473 after dropping 0.25% on Thursday. Friday's morning market futures are dead flat.

Finally, the 10 Year Treasury bond yield is also flat at 4.23%.

 

What is Gerry Up To Today?

The morning hours will find me in the office responding to overnight orders along with squeezing in more image processing for Summer Baltimore new purchases. In the queue is a four piece $20 gold lot with all being CAC approved and grading MS63-MS64. The dates are 1901, 1909-S, 1910-S, and 1911-S.

Furthermore, the Lakeland Collection has sent along another three piece consignment with a magnificent 1876-S dime with Pittman pedigree on the label. This lot is graded NGC MS65 PL. The die variety is presently unlisted with Reverse U (Small Filled S) paired with a new obverse that is unknown. Heavy die polishing lines through Liberty's mid-section are easily noted with a 10x.

The afternoon brings time on Johnny2 as we attempt to locate and transport enough rocks to complete the new stone wall on Monday.

So ends another Daily Blog edition. I hope that you have enjoyed the visit and content. If so, please consider a price list purchase, a consignment, or a bid in The Two Specialty Sets Auction Sale.

Thanks again, be well!

 

 

 

June 20, 2024

A Few Thoughts on The Connoisseurs Liberty Seated Auction Sale

and

Stellar Summer Baltimore New Purchases to Consider

 

Greeting on a Thursday morning and welcome to the Daily Blog. Thank you so much for the visit.

Yesterday brought one of those uncomfortably hot days to southern Maine with the high temp peaking at 98F. The National Weather Service has extended their "Excessive Heat Warning" until 8 PM today with the possibility of afternoon thunderstorms. Friday brings a dramatic cooling trend that extends into the weekend.

Based on the predicted weather conditions, today brings another long office day which will enable time on Johnny2 come Friday and Saturday. The first priority is building up the drainage trench in front of the new shrub garden followed by transporting more boulders and rocks for completing the stone wall on Monday. Sunday sees a full day in the GFRC office working through The Two Specialty Sets Auction Sale administration and invoicing. The usual courtesy ship aheads for won auction lots will begin on Tuesday given that Dave Wilkinson returns on Monday.

I'm also pleased to report that the homestead off-grid project is gaining momentum. A contract has been signed with the first 1/3 payment already mailed to Maine Solar Solutions. Maine Solar will handle the Town of Raymond permitting process along with initiating the "net metering" application with Central Maine Power, our electrical service provider. The entire process is exciting knowing that by the end of summer, the homestead will be able to support its own power demands. Of course, this goal is always weather dependent. Between the homestead and the barn, our peak hourly generation will be 8500W/Hr, a sizable amount of power. I still must find a solution for harnessing more of the barn's excess power generation.

 

A Few Thoughts on The Connoisseurs Liberty Seated Auction Sale

Yesterday's announcement concerning the sale of my long term Liberty Seated dime collection along with Newtown's Liberty Seated half dollar collection marks a milestone for this humble GFRC business.

For years, I have been mulling over the options for selling the core Seated Dime collection and how that would eventually take place. Both Matt and Renee have no interest in the collection or numismatics in general. The best person to catalog the Fortin collection is yours truly given the multiple decades invested in its construction. Therefore, I will be composing the Liberty Seated dime collection catalog while Len Augsburger has been hired to catalog the entire Newtown Liberty Seated half dollar collection. Separate catalogs will be assembled along with hardbound versions. For the dimes, my plan is to write the background stories for each piece in the set.

The sale of my Seated Dime set will be a special event for a simple reason. Most of the lots have been off the market since the early 2000 time frame. This is the period before Eugene Gardner step into the numismatic market with full force starting in 2005. The came Tom Bender with his vast amount of resources along with Dell Loy Hansen. While these gentlemen were assembling their collection, the Fortin dimes sat quietly in a bank box. When auction lot viewing begins, potential buyers will note that the majority of the set is still in its original holders without upgrading attempts. Having eight Gold CAC dimes should reinforce this fact. Therefore setting reserves will be predicated on what I believe these dimes are worth consistent with the old holders and their conservative grades.

There is much work between now and early January 2025 towards bringing both sets to market. The first step is loading both the Fortin and Newtown Collections into the COIN system followed by photography.

Will there be regular GFRC Online Auction events during the balance of 2024? At the moment, none are planned with the emphasis being placed on the newly announced collections. That could change based on the progress with the Fortin and Newtown Collection preparations.

 

Stellar Summer Baltimore New Purchases to Consider

"Stellar" is defined as outstanding, principal, leading, and/or relating to the stars. "Stellar" is a fitting adjective for the first round of Summer Baltimore new purchase to reach the Daily Blog and price list. At the show, I will determined to purchase only premium coins while staying away from average material that always walks up to the table. Summer is a slower time of year for the numismatic hobby and placing resources into average coins was a non-starter.

The following seven lots are truly premium examples that will please the most selective buyers in our community. We open with a stunning Draped Bust 1799 dollar at the Fine 12 grade level while retaining most of the critical device details. It might be noted that the photography is much better than in the past for these large dollars as my Samsung cellphone camera was employed. The 1809 and 1814 STATESOF AMERICA dimes both offer circulated cameo eye appeal and are housed in fresh CACG holders. The 1809 III Edge O-109 half is an unquestionable gem with its steely reflective fields and lightly crusted gray patina. The 1879 half offers eye appeal of a higher grade too and appears to be conservatively graded as there are no anomalies that align with the PCGS MS62 grade. Finally, the 1836 Classic Head G$2.5 is just pretty with its classic green-gold coloration.

All lots are immediately available and will reach the price list this afternoon. Please contact me asap if there is interest in any of these lots.

Stellar Summer Baltimore New Purchases to Consider

1799 BB-166 PCGS F12 CAC $1 - $2600

                        1809 JR-1 CACG F12 10C - $2200                               1814 JR-5 STATESOFAMERICA CACG VF25 10C - $1700   

        

                1881 PCGS MS64 CAC 25C - $1975                                       1809 III Edge O-109 CACG AU50 50C - $1575      

        

       1879 PCGS MS62 CAC 50C - $2000                                           1836 Script 8 CACG AU55 G$2.5 - $2150    

        

 

Global Financial News

Equity markets were closed on Wednesday due to the new federal holiday entitled Juneteenth. I was caught by surprise as shipping was prepared only to learn that USPS was closed for the day. It will take time to remember that June 19 is now a new federal holiday.

For readers with a longer term investment of say 3 to 5 years, I would recommend that precious metals continue to be a key focus. Why? Simple pay attention to the rapid progress of the BRICS Project Embargo status. The BRICS are developing their own alternative to the global SWIFT system, which is controlled by the United States and has been weaponized during the past decade or so.

Let's also recognize that the Banks of International Settlements has reclassified gold as a Tier 1 asset equivalent to the U.S. dollar and U.S. Treasuries. Once this reclassification occurred during 2019, many smaller countries relocated their gold reserve holdings from London and U.S. vaults to their own countryside storage facilities. The message or the reality is that trust in the western financial institutions is waning while the BRICS continue to develop an alternative financial system that will be based on commodities, primarily gold and crude oil.

As the global usage of the U.S. dollar continues to wane as a reserve currency, gold will become more prevalent across BRICS members on a settlement basis.

Spot gold is currently trading at $2340/oz while silver has gain ground to $30.24.

Morning market futures are pointing to a 0.40% gain for the S&P 500 when trading resumes in a few hours. Of course, the technology sector continues to drive gains.

WTI crude pricing is flat at $81.66/bbl while the U.S. 10 Year bond yield has moved up a tad to 4.25%.

 

Wrapping Up The Blog

Today brings another office day. If wishing to consign, make a purchase, or whatever, today is the best day for contact and quick responses. Come Friday and Saturday, I will be focused on the "backyard" project.

Yes, this is the last day of The Two Specialty Sets Auction Sale's contemplation period. Come Friday's Blog, more attention will be paid to this active auction.

Thanks again for the visit. Be well!

 

 

 

June 19, 2024

GFRC Online Auctions Proudly Announces

The Connoisseurs Liberty Seated Auction Sale

and

A Two Specialty Set Auction Sale Update

Tuesday's Homestead Backyard Improvement Status

 

Greeting once again from the Maine GFRC office and welcome to a huge Daily Blog edition. Our sincere thanks go out to the entire community for the ongoing support.

Life is certainly in the fast lane this morning as much is taking place. I would not have it any other way!

Diane is now in Austin for a week visiting with Renee, Mike, Ivy, and Miles. This leaves me flying solo in the office along with moving forward with several important homestead projects.

Raymond will be experiencing close or record high temperatures today and tomorrow with the possibility of afternoon thunderstorms. These high temperature induced storms can quickly become violent or spectacular depending on your perspective. Last week brought a team from New Hampshire to reseal our Four Seasons glassed sunroof. The thunderstorms will bring the first workmanship test.

I was up very early this morning as there was just too much on my mind. Yesterday brought an emailed contract from Maine Solar Solutions which was promptly executed this morning. The off grid system, as designed by Phil Walter, consists of 13 SEG 550W panels and two Powerwall3 battery and inverter boxes with 27KW/Hr storage capacity.

Let's move forward with the promised $2,500,000 forthcoming GFRC Online Auctions event announcement. More will be written in Thursday's Blog edition concerning this topic as we are still in the formulation stage. This auction showcases the release of both the Gerry Fortin core Liberty Seated Dime Collection and Newtown's core Liberty Seated half dollar collection. Both collections are truly amazing accomplishments.

Auction lot viewing will take place at three major numismatic events starting with the Chicago ANA, followed by Fall Baltimore, and the 2025 Orlando FUN show. The huge offering will be auctioned via multiple sessions during 2025.

GFRC Online Auctions Proudly Announces

The Connoisseurs' Liberty Seated Auction Sale

 

A Two Specialty Set Auction Sale Update

Is it my imagination or are GFRC Online Auction events becoming predictable? Here we are on a Wednesday morning as The Two Specialty Set Auction Sale is moving through its contemplation period with typical statistics.

As of the Blog's composition, 43 of the 119 lots currently have bids. The sell through rate presently stands at 36%. Accumulated bids have increased to approximately $45,000 against total initial reserves of $205,000. Each day continues to bring incremental bidding for the Cumberland County Walking Liberty halves which is a dominant lot in the auction in terms of reserve dollars. Our husband and wife collecting team placed much effort into acquiring the best possible early dates (1916 through 1929-S) with the bulk of the set's value being concentrated across these early strikes. For far, the 1916, 1917-D Reverse, 1917-S Reverse, 1918-D, and 1920-S are heading to new homes but still leaving many other desirable semi-key and key dates for consideration.

The JBN Liberty Seated dimes continue to be well subscribed with 19 of the 30 lots garnering bids during the auction's early stage. More biding is expected for this offering given the amount of attention received during Summer Baltimore auction lots viewing.

If you have not taken the time to visit the online auction catalog, please consider a trip to the auction link or simply click on the above auction banners to gain access.

 

Tuesday's Homestead Backyard Improvement Status

Tuesday brought Dave Wilkinson back to the homestead with his excavator. I continue to be amazed that Dave is already working within one month of knee replacement surgery.

The day's goal was to construct yet another stone wall on the Fortin property along with digging a drainage trench and clearing brush/stumps so that grass seed can be planted. The end goal is a new shrub garden that will be enjoyed from the back deck.

When constructing a stone wall, the key ingredient is multi sized boulders and rocks. Certainly, our Raymond property is now famous for being glacial with an incredible amount of ledge and corresponding broken fragments. This rock is both on the surface and sub-surface. Dave often jokes that one cannot dig more than 5-6" without hitting a rock which is definitely true!

Yesterday's challenge was securing and moving enough boulders and small stones for Dave to assembled the new stone wall. This is where my role came to play with Johnny2. Much of the day was spent on the tractor staging building stones. While Dave cleared the area behind the settler's stone wall, I was driving along the back acreage trails and selecting/moving large boulders. Armed with its small grapple, Johnny2 did a commendable job and secured sufficient materials. Dave and I worked non-stop from 8:00 until 2:30 PM when Dave lost a track on his excavator. Reinstalling a track on a excavator is a long process requiring the machine to be jacked up and grease removed from the tightening cylinder to allow for proper placement of the track on the drive gears. I felt bad for Dave, given his knee situation and the challenge of this repair. Dave will be back this weekend or Monday to reinstall the track.

After Dave's departure, I continued to transport dirt and completed the smoothing of the shrub garden at 4:30 PM. It had been a long day in the hot sun along with skipping lunch. Staying hydrated was the imperative which I did during the evening hours.

Today's near or record high temperatures will keep me indoors working in the office.

Following are three images that capture the "backyard" progress after Tuesday's effort. It is amazing how much work can get done with two smaller sized pieces of construction equipment.

This first image was taken from the back side of the new shrub garden stone wall looking up at the homestead. One should be able to secure a sense of the downhill slope from the house to the new construction site. At this point, the stone wall is essentially a "skeleton" of amalgamated sized boulders and rocks that we could conjure up quickly. Johnny2's role was to bring the stone to Dave who then constructed the wall. If looking carefully at the excavator, you will note that the right track is well off its front sprocket with the rear being even in worse condition. Working in soil with a high rock density is a substantial liability for Dave as a small rock can dislodge the track from its sprockets.

 

This second image presents a southern facing view of the project progress. After Dave's departure, the fill inside the shrub garden was smoothed and packed down. Between the brownish fill and the grass and cleared area on the right is a drainage ditch that will be filled with rip-rap stone. It is paramount that water flow is properly managed to ensure that all of this effort is not washed out during predictable southern Maine thunderstorms and heavy downpours. After careful consideration last evening, from the back deck and an adult beverage, the shrub garden will be first covered with a professional weed mat and just more crushed stone that has become omnipresent on the property. Once crushed stone is in place, it is permanent as compared to bark mulch which needs to be redone every 2-3 years. The expense for a 16 yard load of both materials is roughly the same leading to the conclusions that crushed stone is more economical on a long term basis. .

 

This final image presents the view along the settler's stone all that was unburied years ago and further augmented by incremental stone as we cleared the surrounding land. The brown patch in the center must be raked out towards removing smaller rocks and protruding roots. Once cleared, grass seed will be applied. The goal is to be able to mow this area with the John Deere lawn tractor at its highest deck setting. Incremental beautification will see the removal of all the vegetation growing within the stone wall. Once the majority is removed by hand, the balance will be sprayed with RoundUp.

 

Blog readers might believe that I am enamored with stone walls. That is certainly the case and why not when there is an unlimited amount of this building material on the property.

 

Global Financial News

The S&P 500 continued its rally on Tuesday with the index now at 5,487. Let's not be fooled here. The S&P is being driven higher by the technology sector while small caps and financials are flat. The tech sector is a momentum play and requires vigilance as a reversal is always possible.

The 10 Year U.S. Treasury bond yield is slowly dropping with a morning quote of 4.22%. The U.S. dollar remains flat at 105.2 against other major currencies.

Watch out as WTI crude oil has climbed back above $80/bbl with a current quote of $81.50.

Spot gold continues to trade in a tight range and is quoting at $2327/oz per the Kitco website. Over on the Shanghai Gold Exchange, the day's ending quote was $2346, or only a $20 premium. Silver is stuck in the mid-$29 range.

Morning market futures are point to incremental buying in the technology sector with the S&P 500 up 0.1% at the opening bell.

 

What is Gerry Up To Today

Today brings a full day in the GFRC office catching up on shipping along with processing Summer Baltimore new purchases. It is a bachelor life for a week...

I hope that you've enjoyed today's edition as considerable content. Please consider bidding in The Two Specialty Set Auction Sale along with potential new acquisitions for your collection.

Thank you for the visit. Be well!

 

 

 

June 18, 2024

GFRC-Lite at the Raleigh Money Expo June 21-23

and

A Reed Hawn 1870 Gold $1 on the Price List

 

Greeting from the GFRC Maine office and welcome to a brief Daily Blog edition. The following commentary is being composed on Monday evening as I have an early start with Dave Wilkinson and his excavator on Tuesday morning. I take pride in publishing a regular Daily Blog edition, therefore let's move forward with the latest GFRC news....

 

GFRC-Lite at the Raleigh Money Expo June 21-23

Now that the 2024 Summer Baltimore show is in the history books, the numismatic torch moves to Rich Hundertmark and GFRC-Lite as the Raleigh Money Expo arrives this coming weekend.

Rich sent along the following community briefing.

As the summer coin show season moves into full force, GFRC-Lite is readying for the Raleigh Money Expo, the largest show in North Carolina. It’s also the 50th Anniversary show with over 150 dealers in attendance.

Lite will have an outstanding offering of Early Type coins for collector consideration.

Dealer setup is Thursday night with the club providing a barbecue with all the fixin’s for dealers. Doors open to the public at 10 AM Friday with the show running through Sunday.

Show particulars can be found on the gfrclite.com website on the “Additional Information” page.

The LSCC will be one of the many clubs in attendance with the Raleigh club also doing a good job with educational forums.

Lite is also happy to convey that a couple of consignors have donated coins to the Raleigh club for young numismatists. 

In general, the North and South Carolina shows that Lite attends  are hosted by regional clubs that do a great job in supporting our youth , this a worthwhile sustainability effort, as the tie between learning numismatics and United States history is strong.

Rich

 

A Reed Hawn 1870 G$1 on the Price List

Most Blog readers might not have noted that there is an 1870 $1 gold piece on the regular price list with an important Reed Hawn pedigree. The following image illustrated the original Stack's coin insert that dates back to the October 13 and 14, 1993 along with the offered lot. The insert is included with the purchase. How cool is that?

1870 PCGS AU53 G$1 - Ex Reed Hawn - $850

 

For the younger collectors in the GFRC community who may not be well versed with historical pedigrees, here is background on a Texas oilman who assembled a huge collection with many famous rarities including an 1804 Class I silver dollar and a 1913 Liberty Head nickel. .

Reed Hawn, Connoisseur and Advocate

Reed Hawn, a Texas oilman and Arabian horse breeder, became known to the collecting world during the last quarter of the 20th century.  He started collecting coins from change when he was nine years old, placing them in a coin album.  He learned about rarity and quality from handling coins and reading all he could about them.

In 1961 at the age of 12, he and his family traveled to New York from Austin, Texas. Reed visited Stack’s and began his deep involvement in collecting rare and choice coins, initially with the help of his father, Bill Hawn, who felt that a hobby could offer education and possible investment for his young son.

By the time Reed reach age 24, he had assembled an outstanding collection of United States coins, with a specialty in half dollars.  That collection was sold by Stack’s in New York in 1973, attracting collectors and buyers from all over the United States.  Reed recalled in a later interview that the scope and quality of the coins he had assembled led to a standing room only auction venue, where it was difficult to get through the doors.  Record prices were bid, large gains in value were attained, and Reed felt his connoisseurship, following guidance from the Stack family, led to the success of the sale.

His long time desire, even at the age of 24, was to own two coins heralded as "keys" to the American series. Shortly after the sale of his collection in 1973, he purchased the famous Mickley 1804 Class I silver dollar for $150,000 in a private sale from Stack’s. At the time this was a record price for any coin sold at auction or by private treaty. That coin is known today as the Mickley-Hawn Class I 1804 silver dollar.

The other prize he always wanted to own was a 1913 Liberty Head nickel, heralded during the 20th century as a great rarity.People were urged by coin dealers to "check their change daily" to find one. At one time, Col. E.H.R. Green owned all five known pieces, but most people never had the chance to own even one. However, the challenge of looking opened the field of coin collecting to many. During the Jerry Buss Collection sale in the late 1980s, the 1913 was offered and Reed bought it. Now he owned both his dream coins!

From the time he sold his first collection in 1973 until he decided he needed to sell the second in 1993 Reed traded other series of U.S. coins, from the cent to the double eagle. He sought the highest quality he could find and gathered some great rarities when they became available in the market. Many "finest knowns" were part of his holdings. His knowledge and connoisseurship continued to grow.

Reed Hawn’s great knowledge of numismatics, and his financial and monetary background led to his acting as advisor to Senator Lloyd Bentsen of Texas, for monetary and coinage matters. Later Reed was nominated and served for over a decade on both the Citizen’s Commemorative Advisory Committee for Congress and the U.S. Mint, and the Citizen’s Coinage Advisory Committee. When Lloyd Bentsen served as President Clinton’s First Secretary of the Treasury, Reed worked with the Treasury as he did during his time on the Advisory Committees.

While on the committees, he and Kenneth Bressett, a prominent numismatist, author and past president of the American Numismatic Association, argued with Mint officials and other members of the Advisory committee, about the large quantity of special coins being struck and the profit being made by the Mint. But they were unable to get the Mint to see the collectors’ point of view. Many new collectors left the hobby, as keeping up with the many Mint products was nearly impossible and losses were sustained by many who purchased them.

Reed Hawn developed a keen knowledge of the way Washington works and the way the Mint functions. Because of this and his background in numismatics and monetary matters, he was asked if he would consider the position of Mint director when candidates were being submitted to the Obama Administration in 2009,

When asked if he would consider the job, he said the of course he would. He felt he had the necessary background having worked so long with the Mint advisory committee, his relations with Lloyd Bentsen’s office, and his numismatic background.

When asked what he would he do as director, Reed responded that he would first listen and review what was done in the past. He would then make suggestions and take actions to improve the performance of the Mint. He would also address the ways coins were handled and sold by the Mint, which had resulted in citizen complaints about the high profits and overproduction of many Mint commemorative issues. He also noted that as a collector he knew what motivated individuals to collect and save. He felt that the Mint could improve how it treated collectors and that he would concentrate on that.  As collectors supported the Mint through their purchase of commemorative products and coins with special finishes or strikings, Reed believed: "You got to treat them right!"

Reed Hawn’s collecting background and personal dedication to what collectors want and need inspires him to be an advocate for the collector, young and old. I personally believe that the next director of the Mint should be a current or past coin collector who understands what supply and demand does for a hobby. If he is still available when the job opens again, I would be the first the recommend and endorse the nomination of Reed Hawn.

I hope that you've enjoyed this brief Daily Blog session. It has been another non-stop day in the GFRC office along with preparing Johnny2 for a busy day on Tuesday.

Thank you for stopping by. Please check back on Wednesday morning for a regular Blog edition.

Be well!

 

 

 

Monday June 17, 2024

The Two Specialty Set Auction is Underway

and

Shaping the New Shrub Garden Before Dave Wilkinson Arrives

 

Greeting once again from the Maine GFRC office and welcome to the Daily Blog. Thank you as always for visiting these ongoing ramblings.

As each year goes by, we become that more efficient with post coin show admin work. This was the case on Sunday as Summer Baltimore sales were loaded into the COIN database by late morning followed by a website update and also bringing our Collectors Corner listings current. By 2:00 PM, I will able to head outdoors and begin preparations for Dave Wilkinson's excavator visit on Tuesday. More on that topic later in this edition.

The next week is going to be quite busy as Diane is heading to Austin shortly for another visit with our grandchildren, Ivy and Miles. This leaves me in charge of the homestead and the coin business including the June 15 auction closing duties come Sunday and Monday. Once Diane is back, the Yamatin family arrives for a two week holiday stay at the homestead.

Let's move on to the headline topics of the day.

 

The Two Specialty Set Auction is Underway

The newest GFRC Online Auctions event is current underway with more bidding activity on Sunday.

I'm pleased to report that bidding kicked in for the Cumberland County Walking Liberty halves with both the early and middle dates seeing action along with those considered to be part of the traditional "short set".

As of this morning, there are 30 bids across the 119 offer lots. The semi-key and key date Walkers are still awaiting opening bids and should be closely considered. The Cumberland County Walker set was a multi-year project by our husband and wife client team. Their accomplishment was quite notable during the Summer Baltimore show display with brilliant satiny and frosted luster evident throughout the set. Also available is a lovely 1936 through 1942 run of proof Walkers with the 1942 lot graded PCGS PR65 along with Gold CAC approval.

Speaking of Gold CACs, there are four lots in this auction, a high percentage given how infrequently these are seen in the numismatic market place. Following is a gallery of these four lots to whet your appetite.

The Two Specialty Set Auction Sale - Gold CAC Lots

    1891 PCGS MS65 Gold CAC 25C                                                  1942 PCGS PR65 Gold CAC 50C 

        

 1943-D PCGS MS65 Gold CAC 50C                                                  1944-D PCGS MS65 Gold CAC 50C 

        

 

Shaping the New Shrub Garden Before Dave Wilkinson Arrives

My buddy Dave Wilkinson is back on Tuesday with his excavator for a full day of work in the cleared area immediately behind the settler's stone wall. It really is amazing to think that Dave had knee replacement surgery just one month ago and is already back on the job. We are blessed to be Dave's first excavator event.

Below is an image of the targeted improvement area taken late Sunday afternoon. There are several goals for Tuesday excavator effort. First is the construction of yet another stone wall that will act as a retaining wall for the new shrub garden. I spent an hour with Johnny2 on Sunday shaping the far end of the garden with yet more fill that was dropped off by Dave last week. A black arcing line has been added to the image where the stone wall will be placed. The addition 16 yards of fill, on the left, will be moved into the garden area once the stone wall in completed. At that point, the next step is placing a professional grade weed mat over the entire area and covering with either mulch or crushed stone. Afterwards, the individual shrub planting locations can be cut through the weed mat.

The second goal for the visit is clearing the vegetation to the left of the new garden and leveling to the point that it can be back dragged by Johnny2 and seeded with common grass. Key is the removal of all surface rocks that would limit the use of a regular lawn riding tracking for ongoing maintenance. Those rocks will be handpicked by me on Tuesday with Johnny2 and dumped on top of the new wall. There is never a lack of granite rocks here is Raymond as we are known for being a glacial area with a bountiful helping of stone. Dave will probably clear the vegetation first revealing a host of larger rocks that will be employed for the stone wall's construction along with a pyramid shaped pile of stone that was assembled several years back. I knew that this rock pile would be employed at some point for a meaningful project and that time has come.

For those who might be curious, we have already invested in 64 yards of fill for this venture along with a full day of forthcoming excavator work. Next will come the surface coverage material followed by plantings.

 

Global Financial News

It has been awhile since we last checked on equities and commodities. Therefore, let's take a quick snapshot at the financial markets.

While away at Summer Baltimore, the S&P 500 has managed to climb higher to 5,432 but the incremental gains are primary coming from the high flying technology sector. Small cap stocks continue to be moving sideways due to interest rate burdens and the impact of raw material and labor inflation.

The 10 Year U.S. bond yield has dropped to 4.25% which is a slight improvement for bond holders. Traders continue to speculate as to when the Federal Reserve will tender its first interest rate cut now that May's inflation report was benign.

Spot gold continue to trade in a tight range between $2310 to $2350/oz. Silver is stuck in the $29+ range. Last week's major news was the fact that Saudi Arabia allowed the expiration of the Petrodollar deal with the United States. The BRICS are moving full speed ahead with their own trading system that will be backed by commodities.

The U.S. dollar remains strong at 105.5 while WTI crude oil is quoting at nearly $79/bbl.

Finally, morning market futures are essentially flat.

 

What is Gerry Up To Today?

Today's first priority is working through an accumulated shipping queue followed by Summer Baltimore new purchases image processing. Yes, I was able to photograph nearly all the new purchases on Sunday and will begin the roll out of new offerings come Wednesday. .

Adding to the day's workload is mowing the lawn.

There will be a brief Daily Blog on Tuesday as written this evening since Dave Wilkinson will be arriving at 7:00 AM for a full day's work. I must get Johnny2 ready for its role within this new site beautification effort.

Thanks again for checking in at the Daily Blog.

 

 

 

Sunday June 16, 2024

JBN Seated Dimes Shine During Initial Auction Bidding

Summer Whitman Baltimore - Great Sales Results

and

Get Ready for a HUGE GFRC Online Auctions Announcement!

 

Greetings from the GFRC Maine office on a lovely Sunday morning. I hope that you are well. Thank you for returning to the Daily Blog.

It is great to be back home in Maine after a long 9+ hour drive. Saturday was a long day starting within opening the Whitman show booth and seeing no sales in the first hour. Saturday show attendance is best described as a "trickle" of collectors. A few individuals stop by to say hello, looked at several coins, and walked away. By 11:00 PM, Diane and I decided to slowly close down the booth towards "getting out of Dodge" at a reasonable time. The return journey was extended due to miserable traffic on the Garden State Parkway, on I-287 in New York, and through I-84 in Connecticut. Once past Hartford, the traffic flow improved leading to a 9:00 PM arrival at our Raymond home. After being behind the wheel for nine hours, an adult beverage in the basement sound room comforted a tired mind. On the Technicals turntable was a repeat performance of Jethro Tull's Aqualung along with Steely Dan's Aja. The addition of the turntable to the Nain/Focal sound system has opened a multi-year listening opportunity considering the size of the 33 RPM record collection.

 

JBN Seated Dimes Shine During Initial Auction Bidding

It was easy to judge the arrival of 9:00 PM last evening as the cellphone started chirping with auction bid appearing as soon as the bidding opened.

Let's baseline The CAC Approved Specialty Sets Auction Sale as a first step. This auction offers 119 lots with reserves totaling $205,000, a typical GFRC event in terms of size and total reserve value.

As of this morning, 20 of the 119 lots have secured initial bids with the JBN Collection Liberty Seated dimes already enjoying 14 bids on 30 lots. At this early auction stage, the total initial bid value is not meaningful and is not worth calculating.

Of course, two of the three Gold CAC approved Walking Liberty halves in the Cumberland County Collection lot have initial bids along with several of the challenging early dates. I am expecting much more action on the Walkers in the coming days based on the auction lot viewing that took place in Baltimore.

This auction is a very solid event with premier coins. If you have ever done a Tier 1 auction house lot viewing, you understand the nature of auction offerings. There are solid lots along with dealer retreads buried in the mix. I can assure you that this GFRC event offers nothing but solid lots from four active clients.

Good luck with the forthcoming bidding!

 

Summer Whitman Baltimore - Great Sales Results

Now that the 2024 Summer Whitman Baltimore is in the history books, I can speak freely on what took place.

GFRC enjoy robust sales into the high five figures and we are very pleased with the outcome. Thursday was the best day in terms of collector sales due to a very high yield though the show attendance was light. Friday brought the opposite result with better initial collector attendance but slower sales in the first two hours. Come noon time, there was sales rush along with a large dealer to dealer deal that went on for a full hour. This dealer will frequent the GFRC booth at all Baltimore show given our quality coins at fair prices. That's right, at least one major dealer is able to buy coins from GFRC and add a mark-up on top of our prices.

As mentioned earlier, Saturday's bourse attendance was poor and not worth the expense of an extra night in a hotel. However, our table location is so top notch that we owe the Whitman management our attendance on Saturday morning to test if there is any attendance. That we did and seeing essentially no floor traffic, we made the decision to leave by noon time.

The next major coin show on the GFRC schedule is the Chicago ANA that takes place in August. GFRC will be located at Booth #431 in the UltraPremium section. Our corner table will have eight cases with four dedicated to auction lots and four being regular retail. Four cases of auction lots? Please see the next topic.

 

Get Ready for a HUGE GFRC Online Auctions Announcement!

The stage is set....

The GFRC Online Auctions full page advertisement has been completed for COIN WORLD's August monthly magazine issue along with placement in the Summer LSCC's Gobrecht Journal.

Please check back this week for the most substantial GFRC announcement in our history that spans ten years of supporting collectors and their Liberty Seated coinage pursuits. The announcement will probably take place on Wednesday.

GFRC will be offering two historical collections that have a combined value of $2,500,000. These collections will be on initial display at the Chicago ANA, followed by the Fall Baltimore show, and then Winter FUN. Len Augsburger will be very busy towards developing marketing campaign content along with cataloging.

So hang in there and please check back on Wednesday for the grand-daddy of GFRC Online Auctions announcements....

 

Wrapping Up The Blog

Attendance at every major show brings a full day of post show administration. Today will be no different as all the show sales must be loaded into the COIN system and sold lots removed from the price lists and Collectors Corner. Inventory must be sorted and new purchases removed for photography and subsequent posting.

At this point, there is little else to share other than Dave Wilkinson arrives on Tuesday with his excavator. Dave will be at it again and building yet another stone wall! I love stone walls as so visually pleasing and Dave has a great time with their construction. The goal is to build a terraced stone wall that will act as a backdrop as the first step in constructing the new shrub garden on top of what was the burn pit. I have a mental picture of the end outcome. Tuesday brings the inital step towards achieving the new vision.

Yes, life is never boring and we hope to keep it that ways for years to come.

Thanks again for the visit. Be well!

 

 

 

Friday June 14, 2024

Summer Baltimore is Strong!

and

What is All The Fuss About Baltimore?

 

Greetings from the Baltimore Hyatt Hotel and welcome to a Summer Baltimore Daily Blog edition. Thank you for checking in.

One never knows what to expect from a major summer coin show as the 2024 numismatic season moves through the month of June. To be honest, the GFRC husband and wife team went to Baltimore with muted expectations. I must say that we were pleasantly enamored with the first day results as the GFRC booth was non-stop busy until 4;00 PM. You know when a coin show is great by how late the lunch break, if you can call it that, when it takes place at 2:00 PM.

Of course, GFRC enjoyed one of the best booth locations on the bourse floor. That certainly helped from the visibility perspective. However, there must be active show attendance for a show to be considered as "strong".

That was the case for Thursday's Whitman Baltimore results. During the "early bird" two hour time frame from 10:00 to 12:00am, we enjoyed a five figure deal with another dealer to kick off sales. Once the bourse opened to the public at noon time, we were constantly busy with robust sales. I often use the term "yield" to describe collector attitudes. At some shows, the "yield" is high whereby most booth visitor will buy one or more coins during a visit. That was the case on Thursday. Collectors who took the time to attend had cash in their pockets and were serious about making purchases. I could not be more please with first day results as we took in a number of trade coins that were all there from a quality perspective along with conducting a regular stocking inventory purchase from my favorite wholesaler during the "early bird" period. GFRC will return to Maine with a host of great CAC approved or CACG holdered new purchases with considerable eye appeal. I'm looking forward to restocking the 30 Day Price list with a host of premium purchases at competitive prices.

 

What is All The Fuss About Baltimore?

For years, many collectors have been worried about traveling into Baltimore. Might those fears have been unfounded?

After we closed up shop on Thursday, Diane and I decided to walk through the Inner Harbor area towards locating a well known Italian restaurant called La Tavola on Albemarle St. The stroll across the Inner Harbor piers was thoroughly pleasant on an early evening. The Inner Harbor is similar to any other large city with an active waterfront. In Baltimore's case, it was Fleet Week and Fly Over presented by Northrop Grumman with a host of ships docks at the piers including a visit by the USS Marinette, a Littoral class combat ship that is docked at the pier adjacent to the Hyatt Hotel.

The former days of BLM demonstrations and street panhandlers was a distant memory last evening. I for one have changed my view of the Baltimore Inner Harbor area and would encourage collectors to seriously consider returning to Baltimore come the Fall show in late October. The Whitman staff has communicated to me, that Baltimore is seeing an improvement as a holiday destination and last evening brought recognition of that forecast.

Come this evening, Diane and I will once again take a stroll and locate another local eatery.

 

The Two CAC Approved Specialty Sets Auction Opens on Saturday at 9:00 PM

So far in this Blog edition, I've not mentioned the lot viewing for The Two CAC Approved Specialty Sets Auction that opens tomorrow evening at 9:00pm. One of the reasons for being so busy on Thursday was the staff multiplexing between supporting auction lot viewing and regular bourse sales. I was pleased with the amount of attention that the auction received from multiple visits. Clearly, the Cumberland County's "early date" Walkers were the star attraction among several visitors. I'm expecting to see some opening bidding activity on this portion of the auction lots once bidding opens.

I'm not the least worried about the JBN Seated dimes as there will be a large demand from the regular Seated collecting community given the generous opening reserves.

Good luck to those that decide to bid when the auction opens tomorrow evening.

 

Wrapping Up The Blog

It is nearly 8:00 AM and time to close the laptop and head to breakfast before starting another day on the Whitman Baltimore bourse floor. I'm uncertain if there will be Blog edition on Saturday morning, if so, it might be composed from the bourse floor and appear around 10:00 AM.

Thanks again for visiting with GFRC and its coin show adventures. Be well.

 

 

 

 

Tuesday June 11, 2024

A Huge GFRC Week!

 

Greetings on a Tuesday evening and welcome to the Daily Blog. As always, thank you for stopping by at all time of the day.

This brief edition is being composed on Tuesday evening before closing down the Dell XPS laptop and accessories. I'm ready for an hour in the basement sound room before calling it a day. Tomorrow brings the Baltimore journey followed by Whitman Baltimore booth setup at 5:00 PM. Moving forward, the GFRC will be the Gerry and Diane team with supporting actors when possible. Like all things in life, there are transitions as we age. The Summer Baltimore show signals the transition from the Dan and Gerry business partners to the core Gerry and Diane staff. While in Baltimore, we will miss our daily two mile jog through the back acreage trails but then again, this is a great change of pace from rural to an urban settings

GFRC is showcasing its entire inventory at the Baltimore. This means 10 cases of premium inventory along with 2 cases housing the June 15 Two CAC Approved Specialty Sets auction lot featuring the JBN Seated dime and the Cumberland County Walking Liberty halves. What is there else to say? The Fortins are handling our end of the bargain as a leading dealer of Liberty Seated coinage and are participating in a host of coin shows through Winter FUN 2025.

GFRC has already done a five figure deal with one of our regular suppliers leading to incremental $20 double eagle gold being added to the cases on Thursday. Who knows what else might be offered along with working the bourse for new purchases?

Please note that the Mirror Collection Liberty Seated half dimes are free agents other than the 1838 Small Date and the 1851-O. These will be available for purchase at the show.

Please check the 30 Day Price List as more new offerings have been posted in the past 48 hours.

And on that note, I am closing the Dell laptop and packing the IT portion of the GFRC business for transport to Baltimore. The time has come for relax for one hour in the basement sound room before calling it a day. Will it be digital or old time analog 33RPM LPs this evening. Who knows how my musical inclines will be in a few minutes.

Please check back each morning as I will try to keep the community update on the Summer Baltimore events and bourse attendance.

Be well.

 

 

Tuesday June 11, 2024

Packing for Summer Baltimore Show

and

Mirror Collection Liberty Seated Half Dime Duplicates to Consider

 

Greetings and welcome to the Daily Blog.

It is an early Tuesday morning with the final shipping, before Baltimore departure, needing to get done. Afterwards, packing inventory and show accessories is the imperative.

There is much to get done today including scheduling Dave Wilkinson's excavator return on June 18 and maybe the 19th. We are working out the details this morning.

 

Mirror Collection Liberty Seated Half Dime Duplicates to Consider

Following is a final hour posting of the new Mirror Collection Liberty Seated half dime consignment for the community to consider prior to their exhibit at the Whitman Baltimore show. Already, a really cool 1838 Small Stars die state has been spoken. All lots are priced as marked. Those not sold come Wednesday at 5:00 PM will be included in the Baltimore show cases. Please call or email to reserve any of the remaining offerings.

Mirror Collection - Liberty Seated Half Dime Duplicates

Heading to the Whitman Baltimore Show

      1838 Small Stars NGC MS64 CAC H10C Fatty - HOLD                                      1862 NGC MS67 H10C - $1850                        

        

          1864-S NGC MS61 H10C - $1475                                               1865-S NGC MS61 Fatty H10C - $1750    

        

1840 No Drap PCGS MS64 H10C - $825                  1842 NGC MS65 H10C - $1250                1851-O PCGS MS62 CAC H10C - HOLD

                

1858 Inv Date PCGS MS62 H10C - $1300               1858-O NGC MS65 H10C - $1250                 1859-O PCGS MS64 H10C - $1075       

                

 

Having said the above, I will end today's Daily Blog edition at this point.

Thank you for the visit and my apology for a short edition.

Be well!

 

 

 

Monday June 10, 2024

Vinyl is Back in the Basement Sound Room!

Summer Baltimore Week Arrives

and

Lakeland Collection Discounts Full Inventory by 8%

 

Greetings and welcome to the Daily Blog on a Monday morning. Thank you so much for returning for another edition.

Sunday brought a typical erratic Maine weather day with overcast skies, showers, occasional sunshine, and heavy downpours. There is a well known Maine saying about the weather; if you don't like the current weather, just wait a few hours and it will change. This was the case yesterday.

Given the unsettled outdoor conditions, my attention shifted to completing several items in the ongoing project queue as I just could not bring myself to spend an entire Sunday in the GFRC office. Off to the barn I went and completed the electrification of the second 120V power circuit. At this point, the barn is completely wired in terms of indoor/outdoor outlets. The final step is adding two switched lighting circuits during the autumn time frame.

Also completed on Sunday was the installation of my 1980s generation Technics turntable into the basement sound system. What a thrill to have the ability to enjoy the fuller sound that only vinyl can provide. To verify this often reported fact that vinyl provides a "broader" or more wholesome listening experience than digital, I compared the first side of Jethro Tull's Aqualung with its streamed digital counterpart. The vinyl was a collector version on the Chrysalis label that had been unused. After listening to Aqualung, Cross eyed Mary, and Mother Goose (my favorite on the album) in both formats, I was convinced that vinyl is better. Thanks goodness that I did not follow through with a a thought to sell the below record collection last year. These 33 RPM vinyl piece were acquired between 1972 and mid-1980s prior to the music technology transition to CDs. Much could be shared about the contents of the record collection, but today is not the right time.

 

In other homestead news, Dave Wilkinson's knee replacement recovery is going very well. We chatted yesterday on the topic of pond management and during the conversation, he made it clear that our pond expansion project for late June is on track. This is great news for Dave and the back acreage development goals.

 

Summer Baltimore Week Arrives

It is difficult to believe but this week brings the Summer Whitman Baltimore show. For the final time, I will remind attendees of the GFRC booth location. We are nicely positioned at Booth 730 immediately to the right of the bourse entrance. Diane and I will have 12 cases of coins on display including two cases housing the JBN and Cumberland County auction lots. Wednesday will be a long exhausting day given the drive to Baltimore followed by setting up the booth upon our arrival.

If considering a consignment drop-off, please share this fact immediately with me so that the appropriate preparations can be made. With just two individuals managing a double corner booth, our time will be consumed with showing retail coins along with the auction lots as a first priory. Preparing consignment transfer paperwork in advance will be mandatory.

Diane and I look forward to seeing old and new faces starting on Thursday and Friday.

 

Lakeland Collection Discounts Full Inventory by 8%

After reading my commentary on the current numismatic market conditions, in the Sunday Blog, the mother and son Lakeland collecting team made a command decision to discount their entire consignment inventory by 8%. The pricing adjustments were promptly executed and posted to the 30 Day Price List.

Please take the time to visit this top viewed price list to see if one or more of the Lakeland Collection lots might be for you.

 

Global Financial News

Friday brought a gold and silver precious metals sell-off. Gold closed at $2290/oz while silver was down to nearly $29. The "reported" culprits were a better than expected U.S. jobs report along with a report that the Chinese central government did not purchase any imported gold in May. Terms like "market rout" and "sinking like a stone" were bantered about on Kitco. Well, the U.S. job report was a bust if looking closely into the details. The U.S. unemployment rate increased from 3.9 to 4.0% while the U.S. work force participation rate dropped for full time jobs. The headline jobs number was concentrated in the service sector, aka part time jobs. But the headline number made for a great talking point for the current administration and its media allies.

Secondly, the Chinese not buying gold in May did not surprise me. If you are the largest buyer of gold on the planet, would you not try to push the price down during your accumulation? Silver falling $2/oz on Friday afternoon was classic COMEX shorting by the big banks since Asia markets were closed.

During the overnight, gold traded at $2400/oz on the Shanghai exchange! The Kitco U.S. quote is $2300 which is a $100 gap between eastern and western trading exchanges. Silver has already recovered to $29.72/oz as the Blog is composed. The big bank manipulators can not longer hide their tracks when we have access to the Shanghai Gold Exchange numbers.

The S&P 500 closed Friday at 5,347 with morning market futures close to flat.

Due to Friday's U.S. jobs report number, the 10 Year bond yield climbed back to 4.47% and the DXY index increased to 105.3. All of this for part time jobs being created as full time jobs wane. One has to wonder.....

WTI crude is trading at $76/bbl.

 

What is Gerry Up To Today?

There is a decent amount of shipping to work through this morning. I'm not certain what the afternoon will bring but hopefully there will be enough sunshine to photograph the Mirror Collection Liberty Seated half dimes along with wrapping up the pricing proposal.

Tomorrow brings inventory and accessories packing for the Summer Baltimore show.

Thanks again for checking in. Be well!

 

 

 

Sunday June 9, 2024

The CAC Approved Specialty Sets Auction Sale - A PDF Catalog

and

Price Reductions on the 30 Day Price List

 

Greetings and welcome to the Daily Blog on a Sunday morning. Thank you for checking in.

Yes, it is a Sunday with most people not working at their regular day job. But here I am as usual with yet another round of numismatic ramblings for the day.

The primary news is that the June 15 PDF auction catalog has been completed and is accessible by clicking on the following catalog front page. Building this catalog also does double duty as the final quality control check for the individual descriptions. Since building the catalog via copy/paste actions into Microsoft Word, each description is automatically checked for spelling mistakes along with grammar recommendations. I don't know about you, but my strengths lie in math and science rather than languages. Therefore, the power of Word is priceless in solidifying quality descriptions.

The CAC Approved Specialty Sets Auction Sale opens in less than a week, specifically next Saturday at 9:00 PM and will run for a full week of bidding fun. Please don't be bashful about asking questions concerning certain lots as one client did this morning. You will get straight answers as I want everyone to be pleased with their auction purchases.

There is a lot viewing opportunity that arrives this Thursday through noon time Saturday at the Whitman Baltimore show. If planning to be a substantial player in the auction, then a drive into Baltimore and one day visit might be worth your time. As much as I try to showcase each lot with accurate illustrations and descriptions, there is no replacement for seeing each coin in-hand under a bright light.

The CAC Approved Specialty Sets Auction Sale - A PDF Catalog

 

Price Reductions on the 30 Day Price List

Collectors and consignors need to face the fact that the numismatic has slowed during the past 12 months. On a positive note, I believe the market has stabilized pricing wise, but unfortunately at a lower level than its peak during early 2023. I wish that there was a graphical representation of this fact. The PCGS3000 pricing plot would be ideal but the folks at PCGS managing the price guide have not updated their 1 year graph since August 2022. Coincidently, the August 2022 one year graph still shows a rising market. Is this a political move on PCGS's part to not illustrate the fact that the numismatic market has flatten?

As a result of the current market cycle, some consignors are reducing prices to move their coins to new homes. In the past 48 hours, 12 coins have seen price reductions with nearly half selling at their new levels. Once the Blog is uploaded, I will update the price lists with a refresh.

One of the phenomenons of a flat numismatic market is that collectors have less motivation to sell their coins. In a rising market, collectors are able to buy and sell while pretty much breaking even. Higher prices can cover the commission costs associated with selling coins. In a flat market, there is no near term pricing appreciation. When selling coins purchased in the immediate 12-24 months, there will be a loss against purchase price due to selling commissions. Some collectors are cool with this and see it as "rent charge" for owning the coin. Others can't accept the possibility of a loss on a coin purchase and instead hold on to their coins until prices move up again. The problem is that it is difficult to predict when the next up cycle will take place, thus less material returning to the marketplace.

 

What is Gerry Up To Today?

Light rain and overcast skies will dominate southern Maine today. As a result of the weather conditions, I will be working in the barn and completing the wiring of the second power circuit. Afterwards, it is back in the GFRC office. The Liberty Seated half dimes, from the Mirror Collection, will be loaded into the COIN system along with a pricing proposal being generated. The Mirror Collection lots may not reach the price list prior to leaving for the Baltimore show, but will assuredly will be in the show cases.

That is pretty much it for the day's plans.

Thanks again for stopping by. Be well!

 

 

 

Saturday June 8, 2024

The Two Specialty Sets Auction PDF Catalog Arrives Today

and

Saw Mill Run and Spring Branch June 15 Auction Highlights

 

Greetings on a lovely southern Maine Saturday morning and welcome to the Daily Blog. Thank you so much for the visit.

Today's preamble will be brief as all of Friday was spent assembling The Two Specialty Set Auction PDF catalog. That effort is about 85% complete with the catalog being published during the evening hours.

Furthermore, the latest Mirror Collection Liberty Seated half dime consignment is now in house and will be photographed during the morning hours.

I'd like to get a head start to the day for enabling some outdoor time during the afternoon time frame.

Let's move on to a display of the incremental lots, in the June 15 auction, from the Saw Mill Run and Spring Branch Collections. While most of the auction marketing has been geared for the JBN Liberty Seated dimes and the Cumberland County Walking Liberty halves, there are important Liberty Seated quarters and halves also offered in this sale. The time has come to showcase those lots.

 

Saw Mill Run and Spring Branch June 15 Auction Highlights

1856-S WB-2 PCGS MS63 50C

1891 PCGS MS65 Gold CAC 25C                                                          1851 WB-2 PCGS EF45 50C 

        

     1855-O NGC MS64 CAC 50C                                                        1856-S WB-6 PCGS EF40 CAC 50C 

        

 1843-O Br 1-B PCGS VF35 CAC 25C                1840 WB-6 PCGS MS62 CAC 50C                1850-O WB-7 PCGS AU55 CAC 50C  

                

 1865-S WB-7c PCGS AU55 50C                        1873-S WB-1 PCGS EF45 50C                              1885 NGC MS62 510C        

                

 

Wrapping Up The Blog

So ends another Blog edition. Please remember that GFRC will be attending the Whitman Baltimore show next week. This would be a ideal opportunity for a consignment drop-off if so inclined.

Otherwise, I will say farewell for this edition and get started on another day in a numismatic and outdoor life.

Be well!

 

 

 

Friday June 7, 2024

Preparing The Two Specialty Sets Auction PDF Catalog

Whack-a-Mole, A Homestead Summer Game

and

When Will Coin Dealers Learn?

 

Greetings and welcome to the Daily Blog on a Friday morning. Another day arrives in a life. Thanks for checking in.

The countdown to the next GFRC Online Auctions event is now underway. Bidding for The Two Specialty Sets Auction opens next Saturday evening as Diane and I will be traveling back to Maine after the Summer Baltimore show. The last deliverable for the third GFRC 2024 auction is the PDF catalog which will be finalized during the next 48 hours.

Unfortunately for all of us, there is no prepared content for today's edition. Yesterday was spent outside of the office with multiple outdoor projects. The algae filled back acreage pond was cleaned followed by being shocked with a bleach application to get back to square one. With several days of rain and cool weather in the forecast, it will be possible to start fresh in terms of algae growth and its control with MuckOut product. After the forthcoming expansion project, once Dave Wilkinson is fit for excavator work, I will be adding an aerator powered by a solar battery.

The other spontaneous project of the day was dealing with a ground mole that has taken residence in my new lawn adjacent to the settler's stone wall right entrance. Just image having a gorgeous silver coin that was spotting in the prime focal area due to no fault of your own? How would you feel? This mammal had been at it for two days with a fair number of volcano shaped mounds appearing. Off I went to Home Depot to secure Tomcat bait to poison the intruder. After carefully following application directions and placing the worm-shipped bait into tunneling lines, I was off to the pond for that clean-up. Upon returning, there was yet another fresh mound which told me that the mole was in the immediate area. I just happened to have a large maul for splitting wood in the barn. It was retrieved followed by patiently waiting for the slightest ground movement in one of the tunneled areas. Sure enough, I could see the mole's subterranean movement by a slight upheaval of the grass sod. The log splitting end of the maul was then pounded into the ground at the point of movement and within a 6" ring of that movement. So far this morning, there are no new mounds. I'm not a violent person but will take necessary steps with chipmunks and moles that tear up an attractive property and all the associated efforts.

After reading the above, the Running Boar consignor could not resist and emailed this line. Too funny!

I see the new summer game on the Maine homestead is Whack-a-Mole?

 

When Will Coin Dealers Learn?

Let's share two National Crime Information Center (NCIC) emails that arrived during the past two days. The theft reports have become much too similar with dealers exiting a coin show followed by stopping at a restaurant and leaving coins in their vehicle. When will dealers learn not to take this risk?

A dealer attending the Salem-Roanoke coin show in Salem, VA was the victim of a vehicle burglary after leaving the show for the evening on 6/1/24 and stopped at a restaurant to eat. The victim went inside the restaurant and when he returned to his vehicle unknown suspects had broken out the rear window and removed his inventory. The victim had taken his coins out of the show cases to take back to the hotel instead of leaving them at the show. No suspect or vehicle information is available at this time.

On May 25, 2024, a dealer, traveling home from a show in Crown Point, Indiana was the victim of a brazen theft that occurred in Crete, IL. The victim stopped to eat and while in the restaurant, two suspect vehicles pulled up on both sides of the victims vehicle. The suspects then broke the victim’s van window and grabbed totes with the victims inventory. The incident was captured by the restaurant parking lot video and took less than one minute. The suspect vehicles were described as a blue Odyssey and a blue Dodge Caravan.

We have reached a point in time where dealers attending smaller coins shows should assume that they are being followed upon breaking down their table and heading home. At smaller coin shows, dealers arrive before the attending public with their cars obviously visible on the venue's parking lot. License plates can be easily recorded. Once existing the parking lot, a spotter can radio a partner towards setting up a tailing situation.

The GFRC standard operating procedure is straightforward for not being a victim. First, is have a full tank of gas. Second is be aware of cars behind you during your departure. I've often done a U-turn after existing a small coin show parking lot to test the driving environment behind me. Finally, I will drive a bit aggressive and watch if anyone is attempting to keep up with me. BUT MOST IMPORTANT, is to never stop at a restaurant on your way home leaving inventory unattended in a car or SUV. Why can't dealers understand this fundamental point as nearly all smash and grab theft is done when a dealer leaves his inventory unattended in a parked car.

 

Global Financial News

Silver metal volatility continued during the past 48 hours. After bottoming out at roughly $29.50/oz, silver jumped up to $31.25 during yesterday's trading. Today's early morning trading brings a pullback to $30.28. These types of daily moves appear atypical with an underlying explanation that will need further research..

Have Blog readers been following the price of copper? After trading at an average of $3.75/lbs during the second half of 2023 and into March 2024, copper jumped to over $5/lbs in mid-May as has since retreated into the $4.60 range. Why do I bring this fact up? When at Home Depot yesterday, it was noted that copper wiring was now placed behind locked plexiglass. These are certainly signs of the times in terms of increasing value and theft risks.

The S&P 500 traded flat on Thursday and closed at 5,353 with today's morning market futures also flat at the moment. However, the U.S. employment report drops at 8:30 AM with its potential impact on the equity markets.

Gold is trading at $2332/oz along with WTI crude at $76/bbl.

The 10 Year bond yield is quoting at 4.31%

 

What Is Gerry Up To Today?

The entire day will be dedicated to constructing Two CAC Approved Specialty Sets Auction PDF catalog. Therefore I will be working in the office and look forward to your purchase order, or consignment proposal.

Thanks again for taking the time to check in at the Daily Blog.

Be well!

 

 

 

Thursday June 6, 2024

The Two Specialty Sets Auction Catalog is Done!

Huge GFRC Online Auctions Announcement Arrives Soon

and

Spot Gold Price Gap Is Closing

 

Greetings on a Thursday morning and welcome to the Daily Blog. Your ongoing visits are appreciated.

Today's edition will be brief as I've had a late start due to chasing down several chipmunks and spending a bit too much time catching up on geopolitical matters. Unfortunately, I was not able to secure a shot at the fast moving rodents. As for the geopolitical news, it is disconcerting. Now that the IDF has captured the Philadelphi corridor along the Egypt border, a large number of Hamas cross border smuggling tunnels have been discovered and destroyed. With Israeli control of the entire Gaza border, Hamas no longer has a supply line and will eventually wither under IDF pressure. Is it therefore not a surprise, that Hezbollah is increasing its rate of attacks on the northern border? Let's remember than Iran is the puppet master in this theatre and can see the end of Hamas coming. Therefore, igniting a war on a new front is their next step for maintaining pressure on Israel. Lebanon presents an easier approach with supply lines through Syria and Iraq.

Over in eastern Europe, NATO can sense the degrading situation in the Ukraine-Russia war and has allowed Kyiv to use NATO weapons for striking targets inside Russia. Already, one strike has taken place with Putin reminding the west that he has and could use tactical nuclear weapons if the Russia Federation feels its integrity is under attack. Let's be clear here. A tactical nuclear weapon is not a pinprick. The U.S. bombs dropped on Hiroshima and Nagasaki were in the 15-20 kilotons range while a "tactical" Russian nuke is at the 60-70 kilotons level. Any use of a tactical nuclear weapon in Europe would be devastating including a crash in the equities markets.

With no end is sight for two wars, one has be cautious given the political nature of the current U.S. administration as it starts to recognize that defeat in November is a growing possibility. Near term political decision could have far reaching consequences.

 

The Two Specialty Sets Auction Catalog is Done!

I'm pleased to report that online catalog for The Two Specialty Sets Auction was completed on Wednesday afternoon. Please feel free to click on the above auction banners to access this catalog and the entire list of descriptions and lot reserve prices.

Come Friday, work begins on the PDF catalog consistent with my June 10th publishing date commitment.

 

Huge GFRC Online Auctions Announcement Arrives Soon

Also during the past 48 hours, I've been working with Brenda Wyen and Dini Hampton at COIN WORLD for the newest GFRC Online Auctions full page advertisement that will appear in the August monthly magazine and also do double duty within the summer Gobrecht Journal, a publication of the Liberty Seated Collectors Club. . The subsequent auction event, after the near term June 15 sale, will be huge and the largest GFRC undertaking to date. I have received the inventory lists for the sale items with an overall price guide value approaching $2,500,000. GFRC will spend the balance of 2024 preparing this event with multiple auction lot viewing sessions at major coin shows.

Currently, I am planning to announce the auction sale contents immediately after returning from the Whitman Baltimore show.

 

Spot Gold Price Gap Is Closing

The day starts with spot gold trading at $2361 after being as high as $2370 overnight. Silver is back over the $30 mark with a current quote of $30.25.

Now that the precious metal's pricing power has shifted to the eastern countries, via the Shanghai Gold Exchange (SGE), I've been keenly watching the price gap between the SGE and COMEX and providing an insight into that gap here in the Daily Blog.

As of this morning, the pricing gap has closed to parity between the the western and eastern trading exchanges. The SGE late afternoon price fix was $2363/oz. I'm not certain what this observation means but can speculate that the COMEX, a 97:1 leveraged paper market, has lost its ability to drive down gold prices via extensive shorting activities. I will keep watching that gap and will report back in due time.

 

Global Financial News

Wednesday brought a substantial equity market rally in the high tech sector on the possibility of a Federal Reserve rate cut that could take place in the next few months. A private payroll data report revealed a hiring slowdown slightly before the consensus number. This is all it took for the tech sector to jump higher with the S&P 500 closing at 5,354 on the day. The Dow Jones only moved 0.25% while the NASDAQ rose by 2.0%. In other words, the smaller cap companies are not participating in this rally. Our high flying equity markets are being driven by a select few technology giants with Nvidia now being the third largest company on the globe in terms of market value. Seeking Alpha discusses this fact in the following article.

The exclusive $3T market cap club has a new member... and a new antitrust investigation. The fresh probe into Nvidia, Microsoft and Microsoft-backed OpenAI will explore the dominant roles the companies play in the artificial intelligence industry, according to The New York Times. Both the Department of Justice and the Federal Trade Commission will be involved in the investigation as advances in generative AI threaten to upend the world as we know it (or so they say).

Backdrop: The probe follows the meteoric rise of Nvidia, which is up 150% YTD and +770% since the beginning of 2023. It adds to several other recent regulatory inquiries surrounding artificial intelligence, including consumer protection risks at OpenAI and in-depth deal examinations with AI startups. Previously, the DOJ and FTC had been at the forefront of reining in Big Tech, with claims that other Magnificent 7 players like Alphabet, Amazon, Apple and Meta all violated anti-monopoly laws.

As they flex their power and share prices rally, the weightings of the new AI giants are giving them more sway in the market. Microsoft, Nvidia, Alphabet and Apple now account for nearly a quarter of the S&P 500, prompting countless investor discussions about concentration. "Nvidia is making money on AI right now, and companies like Apple and Meta are spending on AI," noted Jake Dollarhide of Longbow Asset Management. "There's a lot of retail money that's piling in on what they see as a straight shot up."

The 10 Year U.S. Treasury bond yield currently stands at 4.30% while the U.S. dollar is flat at 104.3.

WTI crude is priced at $74.41/bbl.

 

What is Gerry Up To Today?

After spending two solid days wrapping up the June 15 online auction catalog, today brings a day outside of the GFRC office. I've not heard back from Mark at Automotive Everything and will be dropping in to check on the status of our 1993 Miata among other things. The day's plan is to spend the afternoon on Johnny2 as southern Maine weather has cooled down. I also wish to wrap up wiring the second power circuit in the barn and connect to the main circuit breaker panel. There are a host of electrical tools that need battery charging and having powered outlets in the new bench area is mandatory.

As usual, my thanks go out to everyone who checks in at the Daily Blog and to those that make a GFRC purchase.

Be well!

 

 

 

Wednesday June 5, 2024

Full Speed Ahead on Homestead Solar Installation

The Two Specialty Sets Auction Catalog Wraps Up Today

and

The GFRC Consignment Flow Restarts

 

Greetings and welcome to the Daily Blog on a Wednesday morning. We thank everyone for their ongoing readership.

Southern Maine weather continues to be exceptional with mid-summer like conditions during early June. Each day brights tons of sunshine and the opportunity to spend time outdoors. Here at GFRC, I'm doing my best to strike a balance between homestead projects and continuing to support our loyal customer base. Case in point was yesterday where the entire day was dedicated to completing the June 15 auction catalog.

Let's move into the headline topics as there is much to get done today. We open with a most positive report on the homestead's off-grid solar installation.

 

Full Speed Ahead on Homestead Solar Installation

I truly enjoy working with Phil Walter at Maine Solar in the same manner as working with Dave Wilkinson for back acreage excavation and Pete Theberge for the barn construction project. Phil is an easy going individual with a mastery of off-grid solar system designs. We spoke yesterday and finalized the Fortin installation plan that includes 13 SEG 550W panels and the two Powerwall3 battery systems. We gave up on moving a roof vent as the relocation options were a non-starter for me. As a result the panel count dropped from 14 to 13. However, installing state of the art SEG 550W panels is more than sufficient to cover the one panel reduction.

To enable the generation of a formal contract and installation schematic, Maine Solar sent a technician to our home during the afternoon hours. A drone was deployed to capture our roof layout and dimensions. Once that data is fed into the Maine Solution models, Phil will be able to build a graphical display of the placement of the SEG solar panels on our roof towards verifying fit and compliance to local codes. This graphic output then become the basis for the contract along with the usual terms and conditions to protect both parties. We are hoping to see the contract by early next week before departing for the Baltimore show.

Once a 33% deposit is placed, our installation job will be scheduled with one of the three Maine Solar operational teams. Currently, Maine Solar Solutions is the largest Maine based solar installer in the state and carrying a substantial project backlog. I'm working under the assumption that the install will be completed by the end of July.

 

The Two Specialty Sets Auction Catalog Wraps Up Today

As previously mentioned, the June 15 online auction catalog was Tuesday's prime focus here in the GFRC office. The Cumberland County Collection Walking Liberty set is complete through 1938 with the balance to be wrapped up today. This will provide a two day break before assembling and publishing a PDF catalog for all auction lots.

Description writing, with the coins in-hand rather than from images, is the best option for a accurate presentation of each lot. It is also a learning opportunity with respect to the "CCC" Walkers as this long series has a host of semi-key dates and different striking characteristic. The Walker series is divided into three subgroups namely, the "early dates" from 1916 through 1929-S then the "middle dates" from 1933-S to 1940, and finally the "short set" from 1941 to 1947.

The Cumberland County husband and wife collecting team placed most of their numismatic capital into the "early dates" which will drive considerable attention to this auction event.

Please remember that all June 15 auction lots will be on display at the Whitman Baltimore show starting next Thursday at our Booth 730 immediately to the right of the bourse entrance.

Whitman Summer Baltimore - GFRC at Booth 730

 

The GFRC Consignment Flow Restarts

The past 48 hours has brought two fresh consignment proposals. The first is a 10 piece Liberty Seated half dime lot with all pieces being at the Mint State level. Following is a listing of the Mirror Collection duplicates that will be processed after our return from the Whitman Baltimore show. It should be readily obvious that this consignor is aggressively upgrading his Seated half dime collection to a top level. Please be aware that I am NOT taking First Right of Refusals for this group at this point in time. After this lot is fully processed, there will be a showcase in the Daily Blog prior to loading these to the 30 Day Price List.

Date/Grade	Cert #
1838 H10C MS64 CAC Small Stars	NGC 245366-005
1840 H10C MS64 No Drapery	PCGS 35281592
1842 H10C MS65	NGC 3218421-017
1851-O H10C MS62 CAC	PCGS 32266436
1858 H10C MS62 Inverted Date	PCGS 30510638
1858-O H10C MS65	NGC 3061335-004
1859-O H10C MS64	PCGS 39234277
1862 H10C MS67	NGC 3603610-003
1864-S H10C MS61	NGC 6613149-013
1865-S H10C MS61	NGC 131000-004

Along with the Mirror Collection, the Lakeland Collection mother and son collecting team have proposed a three piece consignment that shipped yesterday. More will be shared once the lots are in house.

Finally, a long time client reported that his numismatic friend attempted to find an auction house partner for his collection at the Central States show. He approached Heritage and Stacks without success as those firms were only interested in handling a subset of his lots. I've asked for an inventory list towards determining if GFRC might be able to help this individual. Between GFRC and GFRC-Lite, our selling strategies might be a viable option for this collector. Frankly, that is why we are in business, namely to help collectors gain fair value for their life long collections.

 

Global Financial News

Tuesday also brought a nice chat with Carlo, our financial manager at Merrill Lynch in Lewiston. We both shared our views of the U.S. economy, the Federal Reserve posturing, and what our favorite market analysts are predicting. Our conclusion was that the balance of the 2024 is very difficult to predict in terms of equity market direction, therefore we will stay on a conservative course with the Fortin portfolio. Small cap stocks are struggling with the higher for longer interest rate scenario that is underway. The same is true for small regional banks that are awash in bad commercial real estate loans. Credit card delinquencies are also increasing along with a portion of the population now using the Buy Now Pay Later (BNPL) financing method for purchases. Did you know that BNPL debit is not being reported to the credit rating agencies? This means that there is a shadow finance industry in our midst that could be the final straw that breaks the consumer's back.

I did increase my position in the silver metal now that the spot price has dropped below $30/oz. There is belief that this drop is temporary as the major U.S. banks attempt to unwind a short squeeze on the COMEX at less painful prices. These banks were facing huge losses when silver jumped to $32+. Once that unwinding is completed, there is a sense that silver will move towards the $35 level or higher.

The S&P 500 start the day at 5,291 and close to its all time high. Morning market futures are optimistic with a 0.25% gain forecasted at the opening bell.

Spot gold is trading at $2334 in the U.S. and $2378 on the Shanghai Gold Exchange. Silver is priced at $29.60/oz.

The 10 Year U.S. Treasury bond yield has inched down to a welcomed 4.34%. Meanwhile, the U.S. dollar remains flat at 104.4.

WTI crude is priced at $73.40 a barrel which is good news for the summer driving season.

 

What is Gerry Up To Today?

Today brings two goals. As mentioned earlier in this edition, the completion of the June 15 online auction catalog is the day's prime deliverable. Secondly, and if time allows, I wish to spend several hours on Johnny2 towards wrapping up the erosion repairs on the bottommost section of the Hill Trail.

At this point, I have yet to hear from Mark at Automotive Everything in Raymond on the fate of our beloved 1993 Miata.

As always, thank you for carving out a few minutes from your day towards reading the Daily Blog. Be well!

 

 

 

 

Tuesday June 4, 2024

When a Small Czar Invades Local Government

A Revised View from the Back Deck

and

Dave Wilkinson Enjoys Speedy Knee Replacement Recovery

 

Greetings on a Tuesday morning and welcome to the Daily Blog. It is a another day with another story to tell.

Yes, today's edition will not have any numismatic content other than a short piece from Rich Hundertmark at GFRC-Lite. Let's get going as I have a busy morning with Maine Solar's Phil Walter and Carlo at our Lewiston Merrill Lynch office.

 

When a Small Czar Invades Local Government

I'm certain that readers have run across those individuals in a life that believe they know better than most. We have seen this phenomenon playing out at the federal and state government levels. This is the "elite class" with degrees from prestigious universities who hold a belief that they are superior thinkers and must protect the general population from themselves. This attitude also comes with a thirst for power and control.

Yesterday, I was on the phone with Maine Solar Solutions and learned the back story on why this top rated solar installer refused to take business from the town of Raymond citizens. The head of the volunteer fire department had become a "little czar" in our community believing that he must protect the "ill informed or naive" residents of our small town. To that end, he mandated that solar installers must not only file a construction and electrical permit application (standard procedure for all Maine towns) but also a fire department permit application. The standard permitting process can be accomplished online in the town of Raymond. However, the new fire department permitting application must be manually prepared. Maine Solar explained that this customized application would take 6 hours of effort to accomplish. As a result, Maine Solar terminated any further installations in Raymond. It just so happened that the Fortins were the first client to be captured by this "little czar" in our small town midst. Interestingly, the new town manager (Sue Look) was not aware of this situation until pressed by Joe Bruno, the Chair of the Board of Selectmen after my plea for help. To Sue Look's credit, she called in this "little czar" and vacated his fire department permitting requirement, then calling Maine Solar and assuring them of a standard permitting process consistent with other southern Maine municipalities.

There is a happy ending to the story as I received a quotation from Phil Walter on Monday. We will be employing new state of the art SEG 550W solar panels with a 22% conversion efficiency along with two Tesla Powerwall3 units. These two units provide 27KW/hr of electrical storage along with integrated power inverter. The remaining question is the movement of a single roof vent to allow the placement of 14 panels versus 13. The Maine Solar modeling, for Maine sunlight conditions, estimated the generation of nearly 10,000KW/hrs of power per year with a 14 panel configuration. This is well beyond our current usage as snowbirds but does improve the resale value of our homestead for full time residents. With a 30% Federal Tax credit, the installation is a no-brainer given what would be spent for a Generac backup generator and large unsightly propane storage tank.

The motto to the story is that when a "little czar" invades a community, we must fight back. I was fortunate to have a good relationship, from past school board service, with the top town selectman who did the heavy lifting on my behalf.

 

A Revised View from the Back Deck

Since the GFRC consignment queue is empty, I spent the afternoon hours taking the next step for beautifying our view from the back deck. Now that the unsightly burn pit is in the history books, the next step was to remove a small tree stand that had been blocking the burn pit view. For several hours with my trusty Husky chain saw and a grapple on Johnny2, that tree stand was removed. I am most pleased to share the following revised view from the back deck. This image was taken at 6:00 PM with light clouds.

The new look features a continuous settler's stone wall and the light tan area, to the left of the entrance, that will become the shrub and rock garden. Given the area to work with, we will be striving for large plantings like rhododendrons and lilacs that can cover this space in a matter of a few years.

 

Dave Wilkinson Enjoys Speedy Knee Replacement Recovery

Yesterday also brought a text message conversation with my excavation buddy, Dave Wilkinson. Dave is a tough Irishman and reported a speedy recovery from his May 16 knee replacement surgery. He is again mobile and already mowing his lawn with a lawn tractor. He is pleased with the recovery pace and indicated that its will be a few more weeks before he can start operating his dump trucks and excavator. Modern medical is truly amazing...

The above back deck view would not have been possible without the foresight and ongoing support from Dave. He was the one who convinced me to recover the settler's stone wall and coastal horizon view. Dave has been a powerful enabler and mentor for this huge project.

 

Rich Hundertmark (GFRC-Lite) Has a New Coin Show Banner

Yesterday also brought an email and phone call from an excited Rich Hundertmark. I was just wrapping up the tree stand clearing task when the cellphone rang. Rich immediately asked if I had seen his email. Here is why....

 

Global Financial News

Let's keep this segment brief today as I have a morning phone call with Carlo in a few hours. The topic is silver and taking a larger position on a pull back to below $30/oz. Spot gold is holding flat in its current trading range.

 

What is Gerry Up To Today?

Today brings an office day as there are orders to respond to along with some morning shipping. A new Seated half dime consignment proposal also arrived during the overnight hours.

My focus will be on description generation for the Cumberland County Walking Liberty half dollar lots during the afternoon hours as the week is moving along too quickly..

And finally, deciding with Phil Walter how we will handle the repositioning of that roof vent to secure a full 14 panel solar array.

Life is never boring here in southern Maine.

Thank you for the visit, be well!

 

 

 

 

Monday June 3, 2024

Taking First Steps for Building a Shrub/Rock Garden

 

Greetings and welcome to the first full week of June 2024. Thank you as always for dropping by.

Southern Maine has been enjoying mid-summer like conditions for the past five day with a few more in the weather forecast. It has been difficult to work in the GFRC office when there is continuous bright sunshine and seasonally warm temperatures. Sunday brought an outdoor day with the focus on burying a larger burn pit that has served its purpose well when clearing the land surrounding the barn. Unfortunately, there is no prepared numismatic content for today's Blog edition since all consignments have already been processed and posted.

So let's move forward with several images from yesterday's back acreage efforts as an ugly burn pit is transformed into an appealing shrub and rock garden. This project is expected to span the entire summer.

This first image was taken at roughly Sunday 9:30 AM with a bright blue sky and a single airline jet contrail in the background. Johnny2 is prepared to move 32 yards of fill into the burn pit, kicking off the shrub garden project. These fill piles were dropped off by Dave Wilkinson prior to his knee replacement surgery on May 16th.

This second image was taken at about 7:30 PM as the sun is quickly setting in the western sky behind the homestead. Not only did I fill the burn pit hole with fill, but also returned during the afternoon hours with the JD D140 lawn tractor to brush hog the area surrounding this location. Please note the small tree stand that is blocking the view of the setting sun and the homestead. This vegetation will be mostly be removed this afternoon to expose the full length of the original settler's stone wall.

This final image was taken as the same time as the one above and illustrates the view from our neighbor's back deck. The extent of the brush hogging is much more apparent from this vantage point. Let's remember that just a few years back, this entire area was thick forest that has been cleared and transformed into its current state. I can already imagine the forthcoming colorful shrubs that will be planted in this area.

As with any landscaping project undertaken on the property, water flow management is critical to avoid surface erosion. For the forthcoming garden, the wafer flow must be channeled in front of the freshly graded mound. To that end, I've asked Dave to deliver another 16 yards of fill to increase the mound height and providing for an obvious water channel around the garden. Once the mound is fully shaped, the last delivery will be a 16 yard load of loam tailings. Loam tailings are the byproduct of loam sifting through a large screen. The remaining debris, small rocks, and large loam clumps are set aside and sold as an inexpensive form of fill. There is sufficient organic material in loam tailings to be used as the final layer for the garden.

 

Global Financial News

Another financial trading week arrives with equities still close to their all time highs. The S&P 500 saw a 0.80% gain on Friday and current stands at $5278. Morning market futures are pointing to a 0.15% gain at the opening bell.

Spot gold is currently quoting at $2331/oz in the U.S. markets while trading at $2377/oz at the Shanghai Gold Exchange. Silver is quoting at $30.31/oz.

The 10 Year U.S. Treasury bond yield has pulled back slightly to 4.46%. Following is an interesting article via the Kitco website on the state of "zombie" companies in the U.S. A zombie company is defined as one that has interest payments exceeding earnings before interest and taxes (EBIT).

The Federal Reserve's lenient monetary policy over a prolonged period has led to an increase in zombie companies: those that do not make profits and simply survive, or rather, subsist on debt.

To be more precise, these are companies that have been around for at least a decade and whose interest payments on loans exceed their earnings before interest and taxes.

As early as 2018, central investment banks such as Goldman Sachs warned that the situation was approaching critical. The move to ultra-loose monetary policy during the coronavirus pandemic only worsened matters.

In addition, the US authorities began buying corporate bonds to stem the tide of bankruptcies, effectively granting hundreds of distressed companies almost unrestricted access to credit markets.

It was expected that once regulators tightened monetary conditions, zombies would have no chance of survival, which could trigger a severe crisis in the financial system.

The reason is that borrowing new money would become prohibitively expensive, and they would be unable to repay their debts.

In fact, according to the American Bankruptcy Institute, the number of bankruptcies filed by businesses and consumers increased by 18% in 2023. However, this has not yet led to a total catastrophe in the market or the economy. 

However, it is premature to assume that it will not lead to a disaster.

A study by Apollo Academics reveals that 41% of Russell 2000 companies are posting negative earnings. The Fed's rate hikes are affecting small and mid-cap companies more than larger ones.

Notably, the adverse effects are being felt especially in the technology, enterprise software, venture capital and related sectors, where companies are often experiencing profitability and revenue problems.

Therefore, it is crucial to closely monitor through the personal stock screener the debt positions of companies within these niches in your portfolio, paying special attention to their maturity dates to protect against additional risks. 

What will all this ultimately translate into?

The Government is not preparing for a “tsunami” of companies seeking rescue through restructuring plans this year despite the cost pressures that continue to affect small businesses.

However, the rise in bankruptcies will shadow global economic activity and job growth in the coming years. If we manage to exit the high-interest rate cycle smoothly, perhaps the increase in small business insolvencies will not have a dramatic system-wide impact.

WTI crude oil is trading at $77/bbl. The latest crude oil news is that OPEC+ agrees to extend production cuts through the end of 2025 to sustain current and future oil prices. As a result, we can expect existing gasoline prices to stay fixed or increase slightly during the summer of 2024 driving season.

 

What is Gerry Up To Today?

Today brings three primary tasks. First is a busy morning in the GFRC shipping department. Once the shipping is staged for Diane, I will be adding more "CCC" Walking Liberty half dollar descriptions through the noon time hour. After a quick lunch, I return to the shrub garden project and will cut down that remaining small tree stand by the settler's stone wall. With those trees removed, the underlying surface and rocks will be visible. Most likely, I will have Dave drop another load of fill in that area to smooth out the surface and providing easy access to the stone wall with Johnny2.

Since there are no new consignments to process, I'm planning on enjoying the outdoors prior to rain returning on Thursday and staying around into next week.

Oh, the fate of the 1993 Miata will also be learned as Mark at Automotive Everything has promised to begin work on our little automotive treasure in the next few days.

Thank you so much for staying current with the Fortins homestead property development and other happenings. Be well!

 

 

 

 

Sunday June 2, 2024

Consider Traveling to Baltimore for a Whitman Coin Show

and

Two CAC Approved Specialty Sets Auction Statistics

 

Greetings from southern Maine and welcome to a Sunday Daily Blog edition.

Maine weather continues to be conducive for outdoor activities. After today's Blog is uploaded, I'm heading to the barn and will be firing up Johnny2 for the last of the trail repairs and other smaller projects.

In this Blog edition, I will focus on the forthcoming Two CAC Approved Specialty Sets auction that opens on June 15. Saturday brought the inclusion of the Spring Branch Seated lots as the final posting step. Remaining is description generation for the Cumberland County Walkers prior to building the PDF catalog. This third GFRC Online Auctions event of 2024 has come together nicely and will be completed before our departure for the Summer Whitman Baltimore show next Wednesday.

Before moving into the auction statistics, let's address the Baltimore city issue with respect to the ongoing a coin shows at the Baltimore Convention Center. Many clients no longer wish to travel into Baltimore to attend a Whitman show. This is a sad trend as the Baltimore location is at the center point between New England and the mid-Atlantic states. Accessing Baltimore by air, rail, or car is straightforward. For years, as a collector then dealer, I have been traveling to Baltimore. Sure, there were a few moments like BLM demonstrations, but overall the Baltimore Convention Center and its surrounding hotels are ideal for staging a large coin show. Being a smart show attendee is paramount and all will be fine.

So what does it mean to be smart show attendee? Simply stated, collectors and dealers need to stay focused on the core reason for being in Baltimore. That is the numismatic hobby and associated activities. Dealers have grown accustomed to protecting their inventory consistent with any other national show. If driving into Baltimore, there must be two individuals in the car so that one person is always connected to the luggage containing the inventory. Rest stop breaks and hotel drop-off are obviously examples. Once unloading inventory, one person remains with the luggage while the other parks the vehicle. The best approach is to time an arrival such that the show inventory can be moved to the convention security room immediately after being unloaded. Once coins are inside the show venue, dealers are free to pursue their evening activities.

Smart collectors should limit the amount of coins that are carried on their person and have a security plan. Walking the streets of Baltimore at night with a backpack full of coins is dumb. Leave coins with a favorite dealer in their security case or locked body bag. Exit a show during daytime hours and use a well known transport service to the BWI airport. If driving, don't announce your departure time, rather heading to a parked car and leaving a parking garage during the middle of the day. The key is having a full tank of gas, or close, and not stopping for any reason whatsoever if traveling alone. At a rest stop, bring your coins with you to the bathroom.

The ongoing number one reason for coin theft, after a coin show, is dealers leaving their inventory unattended in a parked car. Always assume that someone is watching you and behalf accordingly to protect your coins from a smash and grab event. It really is that simple to protect yourself. Based on the host of reported automotive thefts by NCIC, all were unattended smash and grabs events rather than armed robbery. Chaining luggage to tie-down points in an SUV is a smart move if traveling alone. Pack a sandwich and water if traveling longer distances rather than stopping at a restaurant. Use a drive thru and eat the meal in the car.

For those new to Baltimore, I would advise to not use the light rail train from BWI to the Baltimore convention center or back. This train makes many stops with the opportunity for a passenger to grab someone's luggage when heading to the exit door. I took the light rail during my first year as a coin dealer due to the attractive price. However, the risks were immediately obvious. Instead, I started using the Blue Shuttle for transport and always keeping the inventory luggage with me inside the shuttle cabin.

I really hope that collectors will return to Baltimore for the Whitman shows and not fall into the mental trap that Baltimore city is a dangerous place. If staying in the immediate Inner Harbor area and having a security plan for purchased coins, you will be fine.

 

Two CAC Approved Specialty Sets Auction Statistics

Let's open this segment with a few June 15 auction highlights!

 

Two CAC Approved Specialty Sets - Auction Highlights

 1844 F-102 PCGS AU50 CAC 50C OGH                                                 1856-O F-101 PCGS AU55 CAC 50C 

        

    1891 PCGS MS65 Gold CAC 25C                                                      1856-S Briggs 1-A PCGS MS63 50C 

        

 1917-D Reverse PCGS AU58 CAC 50C                                                   1919-S PCGS AU58 CAC 50C     

        

 1920 PCGS MS64+ CAC 50C                                                            1920-S PCGS MS64 CAC 50C 

        

 

OK, let's get to those June 15 auction statistics as quite a noteworthy event as the above lot images might make apparent.

- 119 lots are being offered with a cumulative reserve value of $205,000.

- 93% of lots are CAC Approved with 4 Gold CAC beans to consider.

- Reserve prices range from $100 to $12,500 indicating a broad range of collectibles for all numismatic budgets.

- 35% of the lots are Liberty Seated with the remaining 55% being an essentially complete set of Walking Liberty halves.

Please remember that auction lot viewing is available at the Whitman Baltimore show starting on June 13, throughout the day on June 14, and up to noon time on June 15.

 

Wrapping Up the Blog

Last evening was spent in the basement sound room enjoying some amazing recordings. A 100 ft. Ethernet cable was installed within the drop down ceiling and now provides for a hard wired connection between the GFRC office router and the Naim streamer. The music quality was incredible and even better than when using WiFi in the past. Now that this issue has been resolved, my next significant repair challenges are a hydraulic leak on Johnny2's backhoe along with a back acreage pond full of algae. We will get to those issues during the month of June.

Thank you for the visit and as always, please be well!

 

 

 

Saturday June 1, 2024

Spring Branch Additions to June 15 Auction

 

Greetings on the first day of June 2024. Welcome to the Daily Blog.

As compared to the wet spring of 2023, southern Maine weather has been ideal this year with limited rain and seasonably warm temperatures. The current reading is 55F with a forecasted high of 77 degrees during the mid-afternoon hours.

Today's Blog will be brief as there is much office admin work to catch up on followed by spending time on Johnny2 and wrapping up the back trail repairs. I'd like to get a head start on the office work rather than sitting here trying to create content on a random basis. Let's move to today's primary news, the arrival of the final consignment for the June 15 GFRC Online Auction. But first, a short note that the June 15 auction is now closed for submissions with a total of 119 lots. All 119 lots be available for auction lot viewing at the Summer Baltimore show that arrives on June 13. GFRC will be at Booth 730 immediate to the right of the entrance.

 

Spring Branch Additions to June 15 Auction

The Spring Branch Collection branding name is new though this consignor has been actively selling duplicates on an anonymous basis. Today brings his first branded release that is heading immediately into the June 15 online auction catalog. Since four of the six lots are prior GFRC purchases, those pieces have already been posted. The final two lots will be photographed today.

Leading the Spring Branch release is an exceptional 1891 Seated quarter graded PCGS MS65 with Gold CAC approval. I'm aware of several individuals who have chosen to pursue Gold CAC type as a new project. Let's just say that the 1891 would be an outstanding inclusion into those efforts. Also returning to the auction catalog is a super 1840 WB-6 that previously resided in the Newtown Collection. Please pay attention to the 1855-O Seated half graded NGC MS64, also with CAC approval. This lot offers proof like surfaces under the mottled rose-gray patina and warrants a GFRC-Gem quality rating.

 

GFRC Sales Archive is a Powerful Research Tool

Since GFRC is primarily Liberty Seated coinage centric, the accumulation of a decade worth of sale prices, descriptions, and images can be quite useful during collector research. The Sales Archive is accessible via its link at the top gray links bar.

Given the generally low CAC approved populations for Liberty Seated coinage, many of those approved coins have passed through the GFRC business with their sales records and ownership pedigrees in the Archive. In a number of cases, a piece might have been handled by GFRC on multiple occasions as premium lots move from one advanced collection to another. As often mentioned in the Blog, duplicates are "dead" numismatic money and should be promptly sold to continue funding the upgrading cycle.

Please note that the Sales Archive results are sortable by Grade, Die Variety, and Date. The Die Variety sort is quite useful when wishing to study the price list appearance of rarer varieties.

 

Wrapping Up The Blog

The month of May sales have been solid and I'm pleased with where the GFRC business currently stands. CAC approved collector gold sales have begun to perk-up a bit which is good news.

That is all she wrote on a Saturday morning.

Thanks again for the ongoing visits. Be well!

 

 

 

Friday May 31, 2024

Solving a Two Year Naim/Focal Sound System Issue

and

Important Saw Mill Run Additions to June 15 Auction

 

Greetings and welcome to the Daily Blog on the final day of May 2024. Thank you so much for the ongoing visits.

Let's be clear on one thing. I'm not touching what took place in NYC on Thursday. The cable media will be all over this story for days to come and no need to pig-pile on the matter. Life in rural Maine goes on per normal. Today brings another warm and sunny spring day which I am thankful for.

Thursday brought yet another busy day in the GFRC office and on the homestead property. The day's outdoor accomplishment was removing a host of oak and maple seedlings from the front mulched area between the driveway and Valley Rd. Now that the property oaks and maples are massive, their annual seed discharge settles in the mulch which provides futile ground for seedling development. Earlier in the day, I shot a fourth chipmunk for the season with more to go. Finally, the lawn was mowed for the final time with dull mower deck blades.

 

Solving a Two Year Basement Sound System Issue

Thursday was also a great day as a several year basement sound system issue was resolved. During the past two summers and autumns, I've not been able to enjoy listening to the Tidal music streaming application due to a range issue between the Naim streamer and home router. For those new to the Daily Blog, an audiophile grade Naim and Focal sound system was purchased four years ago. For the Naim streamer to operate properly, it must connect via WiFi to our router. During the past two years, that connection has been problematic to the point of the streamer being unusable. A WiFi range extender was added with marginal results leaving me with only DVD rock concert movies and regular CDs as viable music sources.

Last week, the Fortins lost internet capability after the Wallace Roofing installation. The root cause was a crushed coax cable by a Wallace truck as it transited the edge of the new driveway. Noah, the Spectrum technician, repaired the cable followed by conducting an internet speed and noise assessment for the homestead's coax cabling and its performance. While Noah was in the basement, we discussed the Naim streamer issue. My suggestion was adding a second modem and router into the basement behind the sound system, specifically for connecting he streamer box. Noah indicated this was possible but suggested a much simpler solution of running an Ethernet cable directly from the existing router to the streamer. Since the router and streamer are at opposite ends of the building, a 100 ft cable would be required and placed in the basement ceiling.

Wednesday brought the arrival of a 100ft Ethernet cable as purchased from Amazon for all of $18. Last evening, I ran the cable from the GFRC office, down the basement stairs, and connected to the Naim streamer. The issue was immediately resolved with incredible sound quality since the streaming signal was hardwired rather than transported by WiFi. Today brings the installation of that cable into the basement drop ceiling along with finding an approach for passing the cable through the GFRC office floor and connecting to the router. There is a hot water baseboard in the room right behind the router with pipe openings into the basement. My plan is to drill a small hole, wide enough for the Ethernet cable, next to one of those floor openings. The Ethernet access point would be hidden under the baseboard.

The motto for this story is to never give up on issues as solutions are always possible. Working with a skilled consultant towards a simple solution is typically the right approach.

 

Important Saw Mill Run Additions to June 15 Auction

Thursday also brought the arrival of a new Saw Mill Run Collection consignment for the June 15 auction. This is a five piece Seated lot with an 1843-O Briggs 1-B quarter and four Seated halves. The 1850-O and 1865-S lots are from the famed Seal Beach Collection while the 1856-S PCGS MS63 lot is truly special and a five figure offering. If my day goes as planned, these five lots will be added to the June 15 auction catalog by end of day as the consignor has already set his reserve prices.

 

Global Financial News

Rising U.S. Treasury bill yields are continuing to weigh on investors. The yield curve remains inverted with a 3 month bill yielding 5.5% while the 10 year offers 4.56%. Given the attractive 3 month yield, why would investors risk their capital in the equities market now that stocks are priced to perfection?

The S&P 500 had another off day on Thursday dropping to 5,235. For once, we have the Seeking Alpha morning market futures as illustration. Inflation will take the spotlight this morning as markets prepare for personal consumption expenditures (PCE) price data before the 9:30 opening bell. 

In Asia, Japan +1.1%. Hong Kong -0.8%. China -0.2%. India +0.1%.

In Europe, at midday, London +0.4%. Paris flat. Frankfurt -0.1%.

Futures at 7:00, Dow -0.2%. S&P -0.3%. NASDAQ -0.5%.

Spot gold is trading at $2344 along with silver at $31.28/oz.

WTI crude oil is priced at $78/bbl.

 

Wrapping Up The Blog

Today brings time in the GFRC office with continued attention to the June 15 auction catalog and placing the previously discussed Ethernet cable into the basement drop ceiling. The GFRC shipping department has the day off after successfully closing out the delivery of that Chicago customer package. Diane is a the master of working within the USPS system to resolve these types of issues.

Your purchase orders and consignment proposals are most welcomed on the final day of May.

Thanks again for the visit. Be well!

 

 

 

Thursday May 30, 2024

JBN Liberty Seated Dime Auction Descriptions are Done!

and

An 1860-S Gold CAC Dime Heading into the Wisconsin Collection

 

Greetings on a late May Thursday morning and welcome to the Daily Blog. We are so pleased with your ongoing visits.

Wednesday was a super day for GFRC as the business engine was firing on all cylinders along with some USPS service luck. Where do I start?

The first important development was the sale of my 1860-S PCGS MS63 Gold CAC dime within minutes of it being posted in the Daily Blog. Our congratulations go out to the Wisconsin Collection for his bold purchase decision after waiting for an extended period for my verdict between the Gold CAC example and the PCGS MS64 CAC Kamal Ahwash plate coin.

Next came a decent response to the ten piece $10 Indian gold lot that was also showcased yesterday. Three of the ten lots sold in the matter of a few hours.

Though southern Maine weather was ideal for working outdoors, the completion of the June 15 JBN Collection auction description was paramount for my mental well being. Having a major project deliverable hanging over my head is bothersome and best to remove that background shadow. The entire afternoon was spent writing Liberty Seated dime descriptions. The effort went smoothly, actually fun, since knowing the Seated dime series better than the back of my hand along with the lots being all Choice or Gems. It is straightforward to write positive notes concerning premium lots along with some die variety background as educational content.

Happy hour arrived at 5:00 PM with Diane sharing a favorable USPS package delivery development. The back story is a case of what possibly can go wrong does at times before a happy ending. Last week brought a hurried shipment of a $2700 order to a client in Chicago. Gerry cut the USPS Priority label but forgot to add the client's apartment number as I was expecting Doug the Mailman to arrive momentarily for his usual pick-up. After Doug's pick-up, I realized the mistake and took off in the Miata with a pen to hopefully catch Doug on his usual rural route to hand write the apartment number of the label. Unfortunately, Doug could not be located. OK, the next option was reprinting the label and handwriting the apartment number on that label and delivering to the Raymond post office to update the package before going out on the daily mail truck at 4:00 PM. Great plan, heh? Well, the Raymond post office was closed due to lack of staffing as too many individuals called in sick. What do I do now? When driving back to the homestead, I noted another postal carrier and flagged him down. He took the updated label and promised to place it on Doug's desk with a note to update the package. At this point, I though there had been recovery for my mistake. Wrong....

Doug had transferred all of the GFRC shipments to another carrier so that the packages would be back in time for the 4:00 PM USPS truck pick-up. Doug returned to the Raymond post office to find my revised label and note after 4:00 PM per his phone call.

Without an apartment number on the label, USPS will attempt delivery and then ship the package back as undeliverable based on past history. I asked Diane for help at this point. She works through the USPS online system and places an intercept on the package with a special hold at a Chicago distribution center that also allows pick-ups. Issue is resolved, right? Nope...

The package arrives to the regular Chicago destination post office and then is forwarded to multiple distribution centers across a three day time frame and never settles at the designated hold location. This package was literally a ping-pong ball bouncing around multiple Chicago area distribution centers. After May 20, the package tracking stops requiring Diane to call her contact hot line at USPS for tracking help. Somehow, the package had broken free from the Chicago area and was in Atlanta of all places. The USPS contact promised to rerouted the package back to the Chicago hold location, as arranged by Diane. Yesterday brought a personal phone call from that USPS contact to Diane informing that the package had arrived at the designated hold location and was available for pick-up. Diane immediately notified the customer who has been good about the entire situation.

Yes, it was a good GFRC day.

 

More June 15 Auction Lots Arriving Soon?

GFRC has noticed that USPS Express service has become problematic again. Two incremental June 15 auction lots were shipped by long term consignors on Tuesday and Wednesday. The Tuesday shipment is delayed and it appears that the Wednesday shipment is also suffering the same dilemma. Hopefully these 10+ Liberty Seated coinage lots will be into the office by tomorrow as time is running short. These are better date Liberty Seated quarters and halves that were previously purchased from GFRC.

 

Global Financial News

Rising U.S. Treasury bond yields rattled equity markets on Wednesday with the S&P dropping by 0.74% to 5,267. The 10 Year Treasury bond yield has increased to 4.6% from 4.5% in just two days. Weak Treasury bill auctions are continuing and fueling the higher interest rates. Would you lend money to a "drunken sailor" with a debt to GDP ratio of 122%? Many in the global investment community feel the same way with China selling its Treasury bill holdings at a record rate. Those proceeds are heading into gold.

Spot gold is trending at $2338/oz per the Kitco website while at the Shanghai Exchange, gold is priced at $2389. That is a $50/oz difference between Shanghai and London trading.

The U.S. dollar is current at 104.9 per the DXY index.

Morning market futures are pointing to a 0.4% drop for the S&P 500 when trading resumes.

 

What is Gerry Up To Today?

Today's goals are threefold. First is the addition of the seven unsold $10 Indian gold lots to the 30 Day Price List. Second is preparing descriptions for the Cumberland County Collection's Walking Liberty half dollar lots. Lastly, is mowing the lawn again before pulling the mowing deck off the John Deere D140 tractor in anticipation of replacement blades being delivered by Amazon on June 3. Boredom is never an issue between the GFRC business and homestead projects.

Thank you so much for today's visit. Be well!

 

 

 

Wednesday May 29, 2024

Gerry Fortin Core Collection - Releasing Two Duplicates!

and

Ten $10 Indians Seeking a New Home

 

Greetings and welcome to the Daily Blog on a late May Wednesday morning. Thank you so much for taking the time to visit these ramblings.

What a gorgeous southern Maine morning weather wise as the sky is crystal clear blue providing a lovely backdrop for the green front yard landscaping. Spending the morning hours in the GFRC office will be difficult as I would much rather be outdoors on a day like today.

Today edition brings the culmination of a personal collection decision process along with the promised showcase of ten $10 Indian gold pieces that are immediately available. There is little else to discuss in the regular preamble.

 

Gerry Fortin Core Collection - Releasing Two Duplicates!

After years of consideration, I've made a decision to release two duplicate lots from my personal Liberty Seated dime collection. Those two lots are an 1860-S F-101 dime certified PCGS MS63 with Gold CAC approval along with an 1873-S F-101 dime that is certified PCGS MS64 with green CAC approval.

The 1860-S has been "in the family" since mid-2004 while the 1873-S joined the Fortin collection during early 2006.

In a past Blog edition dating several years ago, I showcased the two 1860-S dimes currently residing in the core set. There is this 1860-S PCGS MS63 Gold CAC specimen and an 1860-S PCGS MS64 CAC example which has the distinction of being the Kam Ahwash plate coin in his pioneering Liberty Seated Dime encyclopedia as published during 1990. I've made a decision to hold onto the Kam Ahwash specimen which means that the Gold CAC lot is a free agent.

The 1873-S date is underrated in AU58 or better in the Seated dime, quarter, and half dollar series. I'm certain that astute collectors of these series are nodding their in agreement with this statement. The time has come to release one of the two examples that I've been "hoarding" for decades. My other specimen is also graded PCGS MS64 with CAC approval and is the F-102 die pairing with lightly mirrored fields. This newly offered F-101 is a frosted piece.

So what is driving the decision to release these two lots? How about a little extra spending money to fund a new vehicle. The 1993 Mazda Miata is currently sitting at Automotive Everything in Raymond and will be diagnosed come next week by Mark. Mark has been servicing the Miata for years and will be checking my lost timing belt theory and whether the engine survived the event. If if did not, I'm most likely purchasing an modern MX-5 replacement. If the 1993 Miata engine remains solid, the target shifts to a Landmaster AMP EV 4x4 UTV for the Maine property.

Following are thoroughly accurate images of both lots for your consideration. The Gold CAC 1860-S is a truly special example and offering. The 1873-S is priced above the CAC guide, but then again this date is underrated. My cost basis is $4750 years ago as recognizing its rarity in higher grade Mint State.

 

Gerry Fortin Core Collection - Releasing Two Duplicates

      1860-S F-101 PCGS MS63 Gold CAC 10C - HOLD                              1873-S F-101 PCGS MS64 CAC 10C - $4,850            

        

 

Ten $10 Indians Seeking a New Home

As promised, today brings a lovely ten-piece $10 Indian gold lot for your consideration. These lots were part of an eighteen-piece release from a client in central Maine. Our consignor has decided that the time has come to sell his U.S. gold collection with GFRC selected to handle the sale. All are immediately available and will post to the price list in the next 24 hours.

 

Ten $10 Indians Seeking a New Home

      1912-S NGC AU55 G$10 - $2050

      1907 NGC AU58 G$10 - HOLD             1908-D No Motto NGC AU58 G$10 - HOLD         1908 Motto NGC AU58 G$10 - $1475

                

 1908-D Motto NGC AU58 G$10 - $1500            1909-S NGC AU58 CAC G$10 - $1950                 1910-S NGC AU55 G$10 - $1425     

                

  1914 NGC AU58 CAC G$10 - HOLD                 1914-S NGC AU58 G$10 - $1550                    1916-S NGC AU58 G$10 - $1750     

                

 

Global Financial News

More and more research is being done with respect to the current rally in gold and silver prices. Now that gold has been repriced between $2330 to $2400/ounce, my attention has shifted to silver. This monetary and industrial metal is undergoing acute physical demand from both China and India due to the fast ramping solar panel market. For years, U.S. banks have been able to control the price of both gold and silver via leveraging resulting in a huge amount of short contract on the COMEX. That leverage has been essentially 100:1. In other words, for every ounce of silver in the COMEX global warehouse network, the banks were able to write contracts for 100 ounces. These short contracts suppressed the price of precious metals for years until the Shanghai Gold Exchange was founded in 2002 and has since wrestled away price discovery from the western countries. Based on my research, U.S. banks are seeing a short squeeze and risk losing their remaining COMEX warehoused metals to Chinese buyers. Once metals are moved to China, Chinese law does not allow for the metals to be moved outside of the country. Just think about that for a moment. The Beijing Central government is working towards being in a majority ownership position of both gold and silver.

Bottom line, silver at $31-$32/oz may be a good entry point as there is more upside potential simply due to industrial demand and the phasing out of western pricing manipulation. Western retail demand continues to be weak given that most Americans are not excited to own physical silver and gold, rather seeing a price rally as a cash-out opportunity.

This morning's Kitco gold and silver prices stand at $2345 and $31.92 respectively.

The S&P 500 starts the day at 5.306 after a flat trading day on Tuesday. Morning market futures are down 0.62%.

The 10 Year U.S. Treasury bond yield continues its slow rise with a morning quote of 4.57%. Weak Treasury bill auctions are becoming the norm. I'm staying away from 10 and 20 year T-bills and focused on only short maturities. Let's remember that we still have an inverted yield curve with 1 and 2 year T-bills paying more than long term issues. Why in the world would anyone be willing to take a long term bond market pullback risk (rates climbing to 5-6%) given the out of control U.S. deficit spending.

WTI crude is priced at $80.38/bbl. I'm certain that the Biden admin is not pleased with this development as the 2024 election approaches.

 

What is Gerry Up To Today?

Sitting in the GFRC office is the last thing I wish to be doing on such a wonderful Maine spring day. However, the business must go on with its usual premium service to clients.

The priority tasks are writing descriptions for the JBN Seated Dime lots in the upcoming June 15 auction along with posting the ten-piece $10 Indian gold to the 30 Day Price List. Of course, there is the usual email correspondence and some light shipping.

Thanks again for stopping by at the Daily Blog.

Be well!

 

 

 

 

Tuesday May 28, 2024

GFRC Online Auctions Proudly Presents

Cumberland County's CAC Approved Walking Liberty Half Dollar Collection

 

Greetings from a fogged in southern Maine and welcome to the Daily Blog. Thank you so much for the ongoing visits.

Considerable time has passed since we checked in with Seth Godin. One of his recent blog posts struck a cord as they say. As a serious fan of continuous learning, I've found myself absorbing a host of YouTube videos on various topics. If needing to wire a barn, there are tens of videos on how to install electrical wiring and outlets the right way. Ditto with landscaping and gardening. If there is a self improvement need, there is most likely a YouTube video on the topic. However, the key in the learning process, is taking steps to execute those learnings with the recognition that initial mistakes will arise from inexperience. Working as an assistant to a contractor is an ideal approach which I have used repeatedly, over a lifetime, to garner a portion of the contractor's knowledge.

Here is how Godin sees the adult learning experience...

Seth Godin Blogpost - "I don't learn that way"

If you’re sitting on the dock, watching the swim class without getting wet, it’s more accurate to say, “I’m just watching.”

There are plenty of theories on how different people learn.

Online, we’re in the middle of the biggest learning experiment in history, with countless videos, podcasts and interactive courses teaching just about anything.

In my experience, there are two uncomfortable pedagogical methods that lead to better learning outcomes:

• Doing it poorly on the way to doing it better
• Engaging with others in mutual support and exploration

It’s certainly possible that you’re the rare learner who actually absorbs new ideas and techniques simply by reading a summary.

If it’s important, though, I hope you’ll try the two most effective methods instead.

 

GFRC Online Auctions Proudly Presents - The Cumberland County's CAC Approved Walking Liberty Half Dollar Collection

The Memorial Day holiday brought a nearly ten hour day in the GFRC office as Maine weather shifted back to a cold wet situation. The day's focus was preparing the "CCC" Walking Liberty half dollar collection for the forthcoming June 15 auction. Much was accomplished as the reserve pricing proposal was approved immediately before 5:00 PM happy hour along with constructing the following gallery for your viewing enjoyment.

Though marketing an essentially complete Walking Liberty half dollar collection may be a bit different than GFRC's mainstream Liberty Seated coinage focus, the effort was quite rewarding from a learning perspective. The most obvious learning opportunity was understanding the strike characteristic peculiarities between the early 1916-1923 dates as compared to those from the late 1930s and 1940s. Secondly, the Walker series requires a customized image processing flow to reduce the amount of luster glare at Liberty's shoulders and gown line along with the top outline of the reverse's eagle. After experimenting with the color balance and brightness/contrast settings, a specialized processing flow was designed and employed resulting in a much improved visual presentation of the Cumberland County Collection.

Astute Walking Liberty half dollar collectors will recognize that the heart of this series in terms of degree of difficulty are the 1916 through 1933-S dates. These dates circulated heavily and are typically found well worn. Choice AU and Mint State survivors are scarce overall and always in demand. It should be easily recognized that our husband and wife collecting team placed their emphasis on acquiring premium examples of these earlier key and semi-key dates.

CAC approval was a key acquisition parameter which will serve the "CCC" owners well during this sale. Included in this following presentation are three Gold CAC lots with a superb gem 1943-D housed in PCGS Gen 2.0 (1989) Doily holder.

This Cumberland County Collection will be on display at the forthcoming Whitman Baltimore show alone with the JBN Liberty Seated dime release. GFRC will be located at Table 730 immediately to the right of the bourse entrance. Diane will be most pleased to guide collectors through a lot viewing session if attending the show.

It is with great pride that GFRC Online Auctions presents the following showcase of a long term clients' accomplishment. Our congratulations go out to Scott and Sue for this collecting milestone. Auction reserve prices have been posted within the online auction catalog. The reserve prices were set at 5-8% back of the CAC Price Guide to stimulate bidding opportunities.

 

Cumberland County's CAC Approved Walking Liberty Half Dollar Collection

 1916-D RPM FS-501 PCGS MS65 CAC 50C                                             1916-S PCGS MS64+ CAC 50C       

        

 1917-D Obverse PCGS MS64+ CAC 50C                                             1917-S Obverse PCGS AU58 CAC 50C

        

   1918-S PCGS MS64+ CAC 50C                                                          1919-D PCGS AU53 CAC 50C 

        

     1919-S PCGS AU58 CAC 50C                                                          1920-D PCGS AU58 CAC 50C 

        

 1920-S PCGS MS64 CAC 50C                                                             1921 PCGS AU58 CAC 50C 

        

    1921-D PCGS AU55 CAC 50C                                                       1923-S PCGS MS64 CAC 50C 

        

   1927-S PCGS MS64 CAC 50C                                                        1929-S PCGS MS65 CAC 50C 

        

 1933-S PCGS MS65 CAC 50C                                                           1936 PCGS PR65 CAC 50C 

        

 1916 PCGS MS64 CAC 50C                         1916-D PCGS MS65+ CAC 50C                        1917 PCGS MS64 CAC 50C

                

 1917-D Rev PCGS AU58 CAC 50C                   1917-S Rev PCGS AU58 CAC 50C                      1918 PCGS MS64 CAC 50C     

                

   1918-D PCGS AU58 CAC 50C                          1919 PCGS AU58 CAC 50C                           1920 PCGS MS64+ CAC 50C   

                

 1928-S PCGS AU58 CAC 50C                           1934 PCGS MS66 CAC 50C                           1934-D PCGS MS64 CAC 50C

                

 1934-S PCGS MS64 CAC 50C                             1935 PCGS MS64 CAC 50C                           1935-D PCGS MS64 CAC 50C

                

 1935-S PCGS MS64 CAC 50C                        1936 DDO PCGS MS64 CAC 50C                      1936-D PCGS MS66+CAC 50C

                

 1936-D PCGS MS64 CAC 50C                          1936-S PCGS MS66 CAC 50C                          1937 PCGS PR66 CAC 50C  

                

    1937 PCGS MS64 CAC 50C                         1937-D PCGS MS64 CAC 50C                           1937-S PCGS MS64 CAC 50C

                

 1938 PCGS PR67+ CAC 50C                            1938 NGC MS66+ CAC 50C                           1938 PCGS MS64 CAC 50C  

                

 1938-D PCGS MS65 CAC 50C                          1939 PCGS PR67+ CAC 50C                           1939 PCGS MS66 CAC 50C  

                

 1939-D PCGS MS67 CAC 50C                             1939-S NGC MS67 CAC 50C                           1939-S PCGS MS64 CAC 50C

                

 1940 PCGS PR67 CAC 50C                             1940 PCGS MS67 CAC 50C                           1940-S PCGS MS64 CAC 50C

                

   1941 PCGS PR66 CAC 50C                             1941 PCGS MS64 CAC 50C                           1941-D PCGS MS64 CAC 50C

                

 1941-S PCGS MS64 CAC 50C                        1942 PCGS PR65 Gold CAC 50C                       1942 PCGS MS66 CAC 50C  

                

 1942-D PCGS MS64 CAC 50C                        1942-S PCGS MS65 CAC 50C                           1943 PCGS MS64 CAC 50C  

                

   1943-D PCGS MS65 Gold CAC 50C                    1943-S PCGS MS64 CAC 50C                           1944 PCGS MS64 CAC 50C         

                

 1944-D PCGS MS65 Gold CAC 50C                     1944-S PCGS MS64 CAC 50C                           1945 PCGS MS65 CAC 50C        

                

 1945-D PCGS MS64 CAC 50C                        1945-S PCGS MS64 CAC 50C                           1946 PCGS MS65 CAC 50C  

                

 1946 DDR PCGS AU55 CAC 50C                       1946-D PCGS MS66+ CAC 50C                        1946-S PCGS MS64 CAC 50C   

                

        1947 PCGS MS65 CAC 50C                           1947-D PCGS MS66 CAC 50C                       2016-W 100th PCGS SP70 50C    

                

 

Global Financial News

Let's baseline where our monitored commodities and major equity indices are positioned after a long holiday weekend.

The S&P 500 starts the day at 5,304, a near record high. Can this major market index be driven higher by the behemoths of the technology sector? Morning market futures are suggesting a slight upward momentum when trading opens in a few hours.

It is important to note that beginning today, the standard equity settlement cycle will be reduced from "T+2" to "T+1". What this means is that buying or selling a stock will become faster in terms of settlement time. The current standard of T+2, prior to today, was two business days between the transaction and settlement into individual buyer and seller accounts. As of today, the settlement time has shrunk to just one day.

Spot gold is currently quoted at $2344/oz via the Kitco website. This compares to the current Shanghai market price of $2369/oz. Why do I mention this fact? Simply, because the Shanghai exchange is now driving gold pricing with the COMEX paper market being in a trailing position. As I study the daily gold pricing movements, it is apparent that gold trades higher during the overnight hours in Shanghai followed by a pricing drop once U.S. trading opens.

Silver continues to hold its substantial breakout with a morning quote of $31.52/oz.

The 10 Year U.S. treasury bond yield stands at 4.465% while the U.S. dollar is trending at 104.4.

WTI crude oil is selling at $78.83/bbl with gasoline contracts priced at $2.49/gallon. Yes, that is the base cost for a gallon of gas in volume. The difference from our purchase price is retail profit and state/federal taxes.

 

What is Gerry Up To Today?

Today brings another marginal weather day which is a good reason to spend most of the daytime hours in the GFRC office. Since Diane and I have already accomplished most of today's shipping during the Monday evening hours, I will be able to focus on two goals. The first is image processing and pricing for the ten piece Indian $10 gold lot from a Maine consignor. The second task is writing descriptions for the June 15 auction lots. If my day goes well, I'd like to complete the descriptions for the JBN Collection's Liberty Seated dimes.

GFRC is open to new and fresh consignments that will be processed and marketed after the June 13-15 Whitman Baltimore show. Please don't be bashful about contacting me with what might be on your mind as a divestment.

I believe that this is the extent of today's fresh ramblings. Thank you again for visiting the Daily Blog, be well.