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Gerry's Daily Blog

Featured Coins of the Day

1818 O-114a NGC AU55 CAC 50C
$1525


1814 JR-3 PCGS MS63 CAC 10C
$2900


1850-O Briggs 1-A PCGS EF45 CAC 25C
$1025


1900 NGC MS63 CAC G$5
$950


1803-/2 NGC EF45 CAC G$5
Osprey $12500


1833 PCGS MS65BN CAC 1C
$4375


 

 

Saturday May 28, 2022

Happy Memorial Day Weekend!

GFRC Is Actively Buying

and

GFRC Online Auctions' August Event is Filling Up

 

 

Greetings and welcome to the Daily Blog on Memorial Day Weekend 2022. Let's hope that many readers are taking a short holiday and enjoying the great outdoors. Let's not forget those in all military ranks who gave their lives for our country. Though the traditional start to the summer season, Memorial Day brings an opportunity to respect those who served and gave the ultimate sacrifice. Freedom is precious and should never be taken for granted.

How are the Fortin's spending the holiday weekend? Since residing in Vacationland, as Maine is fondly known, we need not travel far to enjoy the serenity of forests and fresh seafood. Friday's cocktail hour saw us sitting on the deck overlooking the back acreage followed by grilling cod, mushrooms, and broccolini for dinner. This evening's planned dinner will be fresh swordfish with the usual salad ingredients.

Instead Diane is consumed with nursing Buddy and making him as comfortable as possible. Since today brings morning rains and afternoon thunderstorms, your host will be working in the GFRC office. Years ago, I would dislike rainy days. Now, every day with precipitation is a blessing as nature requires constant watering to maintain plant and tree life. Priorities or perception of those priorities do change as we age.

Driving into Raymond and Windham is not the best of ideas on Memorial Day weekend as the main road (Rt 302) will be jammed packed with summer residents heading to their lakeside homes in the Great Lakes Region of Raymond, Casco and Naples. Now that the pandemic is behind us, the tourism industry should flourish. Issues like elevated fuel prices and a lack of hotel and restaurant workers may dampen the influx a bit.

Friday morning brought another visit to Hall Implement to check on Johnny2's status. The prognosis does not look good for a near term delivery after speaking with one of the mechanics who provided the straight scoop. Multiple components are delayed beyond the backhoe. The third function hydraulics for the front loader must be installed together with the power beyond hydraulics for the rear backhoe. Rear wheel spacers are necessary to provide adequate spacing for the backhoe. None of these components have arrived. Bottom line, if Johnny2 can be delivered after the Whitman Baltimore show, I will be thrilled.

Today will find me in the GFRC office processing Dallas Collection images for the upcoming June 25 auction event. What or who is the Dallas Collection? The Dallas Collection was an early GFRC client who went quiet for a number of years. Just recently, this collector contacted GFRC to sell his entire Liberty Seated dime and quarter holders towards raising a down payment for a new home. My role is to promptly sell his holdings. Therefore the better lots are heading into the forthcoming auction and the balance moving to the price list. I've looking at 39 pieces in two PCGS blue boxes this morning along with 19 more coins that are delayed at CAC.

 

GFRC Is Actively Buying

The secret to success for a coin dealer is the supply side of the equation. If dealing in premium coins and having a "service" reputation, selling coins is straight forward as the demand is continuous. Collectors rely on a well established specialty coin dealers to sustain their hobby.

When buying opportunities appear, I will promptly shift attention to those opportunities and make a best effort to acquired incremental inventory even if unable to turn around on a near term basis. Bottom line, premium inventory is king and the key to sustaining a numismatic centric business.

During the past week, GFRC acquired a five piece $20 gold deal with emphasis on CAC approval and challenging dates. Just yesterday, I received a text message with a link to a client's photo gallery of Seated quarters and halves that he wishes to sell. My response was immediate after the review. Please ship for my offer! Of course, GFRC will work with everyone to transport coins to the Maine office using our business insurance. This is yet another service attribute.

If all goes to plan, there should be two shipments arriving next week prior to the Summer Baltimore show. Speaking of Summer Baltimore, my favorite wholesaler called yesterday to discuss our arrival timing into Baltimore and GFRC's first shot as his new inventory. Beyond that scheduled meeting, another buying session is planned for Wednesday morning with yet another client.

 

GFRC Online Auctions' August Event is Filling Up

The past week also brought two substantial consignment proposals from other long term GFRC clients. Those proposals include an eclectic U.S. gold type set and an important Liberty Seated half dollar collection. Given the existing commitments for the June 25 auction, these two consignments will be scheduled for the next GFRC Online Auctions event that will be scheduled for August.

If you've been considering the idea of consigning to the GFRC Online Auctions platform, the upcoming August event could be an excellent opportunity given the presence of two strong anchor collections.

I'm always available for a discussion of your numismatic holdings and how we can best work together to secure competitive market prices coupled with GFRC low commission rates.

 

Wrapping Up The Blog

With a long USPS holiday weekend upon us, I'm concerned about shipping on a Saturday as packages will be held up for two days in the USPS system. We will probably ship lower priced orders today and hold those into four figures until Tuesday.

Please check back on Sunday morning as a Liberty Seated dime gallery, from the Dallas Collection, should be available. Many lots are CAC approved and will garner attention.

Thank-you for checking in at the Daily Blog. Be well!

 

 

 

Friday May 27, 2022

Buddy Is Back Home and Looking Well

and

Eye Candy Heading to Auction and Price List

 

Greetings on a Memorial Day weekend Friday morning and welcome to the Daily Blog. Where did the week go?

Southern Maine weather has been ideal for working outdoors during the past few days. Strong breezes are always welcomed for keeping the black flies away while cool temperatures eliminate the possibility of overheating when working in the sun. I wish there was a weather remedy for wood ticks other than an early frost. The wood ticks are out in force requiring a body check and work clothes promptly being washed once back indoors.

The news of late has been sad and depressing. I've not made mention as readers come to the Blog to focus on something else as we are surrounded by endless political news on major media platforms. Yes, I have thoughts on the state of country but not going there....

Since the shipping department will be idled due to the long Memorial Day weekend, this morning brings an opportunity to remove the cylinder from the John Deere AV20F grapple and bring to Hall Implement for replacement. Let's hope that they have a replacement cylinder in stock but I'm not holding my breath. The visit is another opportunity to confirm that the 220B backhoe remains on schedule for delivery next Thursday. Johnny 2 will probably be assembled just in time for delivery while I am at the Whitman Baltimore show.

 

Buddy Is Back Home and Looking Well

Buddy the Dog returned home during the early Thursday afternoon hours and appeared to be in better shape than during his first ACL operation. Diane bought him an inflatable neck collar (like those seen used on long airline flights) rather than the rigid plastic neck cones that are terribly uncomfortable. He is resting quietly in his dual kennels; one in the TV room and a second in the bedroom. His angel, Diane, must carry him from kennel to kennel along with taking him outdoors for bio breaks. It will be a long several months for the healing process to restore his right rear leg to mobility.

 

A Reminder - Summer 2022 Baltimore Show - GFRC at Table 730!

The first of two early summer numismatic events is approaching quickly. Yes, the Summer 2022 Baltimore show is less than two weeks away. Clearly a smaller show than the Spring and Winter events, Summer Baltimore still provides east coast collectors an opportunity to head to Baltimore's Inner Harbor and enjoy visits with numismatic friends and your favorite coin dealers.

GFRC is treating this event seriously with eleven cases of inventory across three eight foot tables. Auction lots for the upcoming June 25 auction will be on display and available for preview. Dan and Gerry will be staffing the booth along with Jim Matthews sharing an extra eight foot table. My favorite wholesaler has promised a guest appearance behind the table along with Len Augsburger stopping by to capture notes on the auction lots. GFRC will be buying at the show and planning its travel schedule accordingly.

Finding GFRC will be straightforward as we are located to the right of the entrance along the main aisle. If wishing to sell coins or consign a substantial lot, this is the right time and place since Dan and I are driving to/from the show. We have all types of space in the GFRCmobile to bring back an extra luggage case of coins to the Maine office.

 

Summer Baltimore Show - See GFRC at Table 730!

 

 

Eye Candy Heading to Auction and Price List

Today's gallery display may be limited but the premium quality is readily evident. "Eye Candy" is a fitting descriptor for the following three delicious offerings.

We open the display with a super nice 1892 Barber half that is ideal for a type set. Images accurately capture the coloration and also bring a glimpse into the brilliant frosted luster. This offering has a fresh CAC green bean as I took the opportunity, between CAC $16 tier suspensions, to run a large lot through the Far Hills NJ office. Look for this lovely new offering to arrive to the price list today. Please feel free to request a price quote.

 

A Delicious Price List Addition

1892 PCGS MS63 CAC 50C

 

Next in today's showcase are two gem pieces of numismatic history that are heading to the June 25 auction event.

The first of two offerings is a splendid 1876-CC F-111 NGC MS64 CAC Seated dime with extra 76 digits in the gown. The 1876-CC F-111 is included in the Top 100 Varieties set with this specimen being one of the finest extant. It is the plate coins within the Seated dime web-book. Yes, there will be a large premium for the reserve price.

Second is a stunning 1861 $20 double eagle graded PCGS AU58 CAC. This Osprey Collection lot piece presents lovely peripheral orange-rose toning and is eye appeal on steroids.

 

GFRC Online Auctions - June 25 Auction Additions

1876-CC F-111 MPD NGC MS64 CAC 10C                                             1861 PCGS AU58 CAC G$20         

    

 

Global Financial News

Thursday brought a relief rally for U.S. equity markets as all major indices have been heavily oversold during the past two weeks. The S&P rose nearly 2% to 4058. Will the oversold buying continue today? The answer lies in the anticipation for forthcoming CPI and GDP reports.

Morning market futures are ever so slightly in the green to start the day with the NASDAQ up 0.26%

In Asia, Japan +0.66%. Hong Kong +2.89%. China +0.23%. India +0.81%.

In Europe, at midday, London -0.10%. Paris +0.69%. Frankfurt +0.50%.

Futures at 6:20, Dow +0.01%. S&P +0.15%. NASDAQ +0.26%.

We are in a super commodities cycle as crude oil prices continue to rise to new levels without signs of correcting. This morning's WTI crude oil quote is $115/bbl.

Paper gold is holding steady at $1857/oz while Bitcoin continues on its slow downturn with a price of $28987.

The 10 Year U.S. Treasury yield stands at 2.75%.

The inflationary trend in the U.S. housing market may have reach its apex per this brief Seeking Alpha article.

Almost one in five (19.1%) of home sellers have lowered their price during the four-week period ended May 22, the highest rate since October 2019, suggesting home-buyers are starting to reject historically high prices, according to a report from real estate brokerage Redfin.

The median home sale price jumped 16% Y/Y to a record $400K, as the supply-side of the housing market remains tight, Redfin noted, citing data from more than 400 U.S. metro cities.

Furthermore, pending home sales fell 5.4% Y/Y. And new listings of homes for sale were also down 0.9% from a year ago. Active listings (the number of homes listed for sale at any point during the period) fell 13% Y/Y - the smallest decline since April 2020, Redfin said. 

 

Wrapping Up The Blog

I hope that you've enjoyed today's edition and will return throughout the Memorial Day weekend for more ramblings. Given Buddy's surgery, we will be staying close to home in the near term.

As previously mentioned, this morning brings a trip to Hall Implement and grocery shopping as Diane keeps Buddy company. I will be in the office the entire afternoon working on more June 25 auction lots posting. Please don't be bashful about purchasing a coin or two from the regular price list.

Thank-you for visiting with me at the Blog. Be well!

 

 

 

Thursday May 26, 2022

Buddy's ACL Repair is Successful - Returning Home Today

Beautifying the Backyard Pathway Upgrade

and

Newest Lakeland Collection Consignment Arrives

 

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

Life at the Maine homestead is certainly busy with a host of objectives to accomplish. Today's Blog edition continues the reporting of a life that is focused on numismatics and the great outdoors plus dealing with the random events that appear.

 

Buddy's ACL Repair is Successful - Returning Home Today

As the opening headline indicates, Buddy the Dog under went successful ACL repair surgery on Wednesday afternoon. The repair technique was the same as employed on his left rear leg. The vet pointed out that Buddy is too athletic (a jumper) for his rear leg bone and tendon structure leading to both rear leg ACLs being destroyed as Buddy ages. At this point, Buddy is certainly a bionic dog with two metal plates holding his legs bones together. Diane will be retrieving Buddy this morning followed by three months of quiet time in his living room kennel. She is prepared for the amount of effort that will be required to carry Buddy back and forth from his kernel to outdoors for his bio needs.

 

Beautifying the Backyard Pathway Upgrade

On Wednesday morning, Dave Wilkinson was back with another 7 yard load of brick gravel to completing the upgraded backyard pathway project.

The weather was ideal for working outdoors and that I did during the mid-afternoon hours. The incremental material was layered and compacted followed by the beginning of the project's beautification phase. A string line level was purchased and used to ensure that the pathway graded was brought level as the last of the gravel was spread. 1.5" stone is being sourced from the stockpile behind the stone wall and being applied for beautification and to prevent washout during major downpours. Finally, the removed sod is working just fine as banking material. That sod must be rolled with the tractor's weight followed by a good watering.

Here is an image taken at 4:30 PM as I wrapped up the effort for the day. You will note that the pretty birch tree has been saved, though the lower branches must be trimmed. Next up on the barn project is burning the new brush pile followed by site excavation.

Beautifying the Backyard Pathway Upgrade

 

Newest Lakeland Collection Consignment Arrives

Something for everyone best describes the newest Lakeland Collection consignment.

The Lakeland is a mother and son collecting team who are a total pleasure to work with. We typically meet once per year at the Winter FUN show though the buying and selling relationship in continuous throughout the year.

Today brings a new release of duplicates back into the marketplace. The highlights are an 1865-S NGC AU58 Seated half dime and an 1821 B-3 Capped Bust half. Beyond those offerings are a host of type coins along with 20th century half dollar proofs. Look for these offerings to post to the price list by end of day. Prices have been approved, therefore please feel free to send a price inquiry email for first shot.

 

Newest Lakeland Collection Consignment

Immediate Price Quotes are Available

1865-S NGC AU58 H10C                                                      1821 B-3 ANACS VF35 25C OWH

    

 1867 PCGS MS63RB 2C                              1882 PCGS VF35 3CN                           1914-S PCGS MS63 CAC 5C

            

  1918-D PCGS EF45 CAC 5C                      1821 JR-6 NGC VF35 10C                      1842-O F-105 ANACS VF35 10C

            

  1896-O PCGS VF35 25C                            1920-D PCGS AU53 25C                          1938-D PCGS EF40 CAC 50C

            

  1942 NGC PF66 CAC 50C                          1952 PCGS PR67 50C        

       

 

Global Financial News

U.S. equity markets saw slight gains on Wednesday which is great news in the face of ongoing negative sentiment. Seeking Alpha suggests that a Federal reserve report with forecasted 0.5% interest rate increases in June and July were consistent with market trader expectations. However, recent mass shootings in Michigan and Texas have stunned the nation along with Biden's commentary on high energy prices being a "transition phase" to renewable sources. The emergence of electrical grid blackout warnings for the summer months is disturbing. The reason? Insufficient peak capacity generation as older plants are taken off line. All that I can do is stock up on gasoline and ensure that the Honda generation is functioning well. 20 gallons of gasoline should be sufficient to get the homestead through a one week power blackout.

Today's U.S. morning market futures are slightly pessimistic for the day's trading open.

In Asia, Japan -0.27%. Hong Kong -0.27%. China +0.5%. India +0.54%.

In Europe, at midday, London -0.03%. Paris +0.30%. Frankfurt +0.33%.

Futures at 6:20, Dow -0.02%. S&P -0.11%. NASDAQ -0.43%.

WTI crude is holding steady at $111/bbl which translate into $5.00+ gasoline this summer.

An ounce of paper gold will cost you $1844 but expect to pay over $2000 is searching for physical or bullion gold. Quality collector gold is much higher as few are selling.

Bitcoin is struggling with prices slowly losing ground. This morning's opening quote is an even $29,000.

The 10 Year U.S. Treasury yield is quoting at 2.72%.

 

Wrapping Up The Blog

Today brings an office day with two afternoon hours allocated for the balance of the upgraded pathway beautification effort. I'm trying to keep the hours down on the JD2025R as Johnny2 should be ready next week (if the backhoe arrives on schedule).

During those office hours, the Lakeland Collection offerings will be loaded to the price list along with processing more auction lots.

Thank-you for stopping by at the Blog. Be well.

 

 

 

 

Wednesday May 25, 2022

Buddy's ACL Evaluation/Repair Day Arrives

Progress with Backyard Pathway Upgrade

and

CAC is Overwhelmed Again

 

Greetings on an early Wednesday morning and welcome to another Daily Blog edition. Your ongoing visits are truly noted.

Diane and I celebrated our 42nd anniversary on Tuesday with a lovely dinner at a Lewiston seafood restaurant located in the former Bates Mill. It had been a lucky day for sure. I'm please to report that the homestead water issue was resolved by 1:00 PM. I can't say enough good things about A-Z Water Systems and their fast customer service. Here is the story.

Everyone saw the brief Daily Blog edition on Tuesday as Diane and I made plans to move forward without water in the homestead. At 7:00 AM, we called Atlantic Heating emergency hot line and came up empty. Atlantic had acquired the Windham company that was responsible for the original water system installation. Between the two firms, we have been ongoing customers for over 35 years. Sadly, the Atlantic Heating receptionist had no interest in helping us.

Next came a call to our regular plumber. As expected in today's skilled worker shortage era, Larry was swapped and could not help until next week. Fortunately, he recommended A-Z Water Systems in Standish. Standish is on the other side of Sebago Lake and a fair distance from Raymond. A quick review of their website and Google reviews revealed a highly responsive and professional firm that specialized in out of water events along with regular water system installations. I called A-Z at exactly 8:00 AM, their opening time, and spoke with Lisa. Lisa was supportive and committed a visit by the staff during the afternoon hours. That alone was amazing. At 11:30 AM, a phone call arrives from A-Z indicating that they are ahead of schedule and will arrive to the homestead by noon. That they did!

Josh and Adam appeared as committed and promptly diagnosed the issues, much to everyone's relief. The relay switch that triggers the well pump had gone bad. The holding tank pressure gauge had also failed. There was zero pressure in the holding tank though the gauge indicated 55 psi. A replacement relay switch was retrieved from their truck and within 30 minutes, the holding tank was recharged with a battery powered compressor. A new pressure gauge was also installed. Adam also tested the start-up current for the well pump and reported that the pump was just fine. The bill? $165 for the service visit and $53 in replacement parts. I could not write this check fast enough! After A-Z's departure, I wrote an AAA+ Google review for the firm.

 

Buddy's ACL Evaluation/Repair Day Arrives

Today's is Buddy the Dog's big day.

As this Blog edition is being written, Diane is driving Buddy to the vet that performed the ACL reconstruction on his left rear leg. Buddy will be sedated followed by an Xray of his right rear leg and a determination of the type of reconstruction operation. We are expecting the same procedure as was done from the left leg followed by several months of recovery time in the living room kennel.

Let's hope that all goes well for Buddy.

 

Progress with Backyard Pathway Upgrade

With the homestead water supply crisis behind us at 1:30 PM, attention shifted to constructing the heavy load pathway upgrade with the JD2025R. Within an hour, the 14 yards of brick gravel was layered and compacted. The operation had a dangerous component and the opportunity to roll the tractor if not working attentively. The outer edge of the pathway arc is elevated at least 1.5' from the extracted top soil. Dropping a rear wheel over that edge would cause a rollover for the top heavy Deere tractor.

Here is an image of the pathway construction after spreading and compacting the brick gravel. This same image was shared with Dave Wilkinson for guidance. He will be transporting at least one more load of brick gravel to complete the leveling effort and extending the outer arc by two more feet. Once the brick gravel portion of the project is completed, a truck load of 1.5" stone will be brought in to beautify the area along with preventing washouts during heavy downpours.

Progress with Backyard Pathway Upgrade

 

CAC is Overwhelmed Again

Moving to the numismatic world, Tuesday brought an afternoon email from CAC announcing the suspension of the $16 evaluation level (up to $10,000) effective for the month of June.

Once again, CAC is experiencing high demand at the sub $10,000 level and is unable to deliver one week turnaround times given current backlog. CAC will continue to support the $35 evaluation level and re-stickers.

GFRC presently has one shipment at CAC that should be completed this week and a second that will be arriving today. Both shipments are part of the forthcoming GFRC Online Auctions display at the Summer Whitman Baltimore show. Let's hope that the second shipment can be back in the GFRC office by June 6.

 

Happenings in the GFRC Office

Today's office focus is Lakewood Collection image processing along with loading several incremental consignments into the COIN system.

Tuesday brought the arrival of a 20 piece consignment lot from yet another client deciding to employ GFRC for the divestment of duplicates. It is my honor to be aiding collectors with their upgrading needs and converting their extra holdings into incremental numismatic capital.

Please continue checking in at the Auction link as more lots are being added on a daily basis. This upcoming auction event is shaping up nicely with wide ranging offerings.

 

Global Financial News

It is difficult to find sustained optimism in U.S. equity markets as energy prices continue to rise. This fact coupled with the pandemic induced Great Resignation, that is sweeping the country, is placing cost and profitability pressure on large corporations. Smaller businesses are also struggling and must pass along operating cost increases.

Morning market futures, for U.S. equity markets, are flat to start the day.

In Asia, Japan -0.3%. Hong Kong +0.3%. China +1.2%. India -0.5%.

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

Futures at 6:20, Dow flat. S&P +0.1%. NASDAQ +0.1%.

WTI crude remains solidly above the $100/bbl mark with a morning quote of $111.44. Pressure on cryptocurrencies continues to mount on a global basis as legitimacy is again being questioned by major financial firms and central banks. Bitcoin is now trading below the all important $30,000 level.

Gold continues to be steady with a morning quote of $1856/oz. The 10 Year U.S. Treasury is slowing receding at 2.75%.

 

Wrapping Up The Blog

Wednesday brings a bright sunny Maine day but with cool temperatures. I'm always tempted to spend a few hours on the JD2025R towards the ongoing graveling of the back acreage trails. However, the usage hours are starting to climb against the trade in number stated to Hall Implement. Instead, today will be an office day with plenty of consignment and new purchases processing to keep me busy.

If all goes to plan, there will be a Lakeland Collection consignment gallery posted to the Blog by early evening.

Once again, thank-you for stopping by at the Daily Blog. Be well.

 

 

 

 

Tuesday May 24, 2022

Moving Forward with the Upgraded Backyard Pathway

and

GFRC Online Auctions Presents...

An Eye Candy Extravaganza plus Wisconsin Collection Lots

 

 

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

Monday brought a great day with much GFRC auction lot progress and the delivery of brick gravel by Dave Wilkinson. The balance of the Blog presents illustrations for these topics but without commentary.

Unfortunately, 9:00 PM brought one of those dreaded moments as a rural homestead owner. Turning on the water facet for a pre-bedtime drink of water brought nothing. Many know this sinking feeling of losing water and all the difficulties that come with this type of issue. Diane and I decided to just go to bed and deal with the matter in the morning. Well, the morning has arrived with initial diagnostics and some website research.

Here is what I've been able to determine so far. The water line filter is not plugged. The pressurized holding tank gauge is reading 55 psi which indicates it is holding pressure and capable of forcing water throughout the homestead plumbing. However, there is no water. Is the holding tank gauge defective as late 1980s vintage? If the holding tank bad or the relay that triggers the well pump?

Once 8:00 AM arrives, phone calls will be made to two contractors who have provided plumbing services in the past. In the meantime, I'm heading down to the natural spring with a 5 gallon pail to secure water for flushing toilets. One of us must drive down to our local supermarket to secure drinking water.

So ends today's Blog as priority is locating an available water firm to deal with this situation.

 

Moving Forward with the Upgraded Backyard Pathway

 

 

These are forthcoming auction items and not price list offering......

GFRC Online Auctions Presents an Eye Candy Extravaganza

        1830 LM-2 PCGS MS63 H10C                                              1837 SD NGC MS65 CAC H10C Fatty

    

1838 V10b NGC MS64 Star H10C                                               1857-O PCGS MS62 CAC H10C

    

1856 DDO F-109 PCGS MS64+ CAC 10C                                             1831 B-x NGC AU58 25C             

    

1833 B-1 NGC AU55 25C                                                           1877 PCGS MS64 25C

    

 1852 PCGS MS64RB 1C                          1844 PCGS MS62 H10C                              1845 PCGS MS63 H10C

            

 1851 PCGS MS63 CAC H10C             1853 Arrows PCGS AU58+ CAC 10C                  1914-D PCGS MS63 10C   

            

 

Again, these are forthcoming auction items and not price list offering......

GFRC Online Auctions Presents Wisconsin Collection Lots

1878-S PCGS AG03 CAC 50C

   1872 PCGS EF45 CAC 1C                                                   1860-S F-101 PCGS EF40 CAC 10C

    

   1863 PCGS F12 $1                                                              1843 PCGS EF45 CAC G$2.5

    

 

 

 

 

Monday May 23, 2022

Sharp language

and

Presenting More Osprey Collection U.S. Gold Auction Lots

 

Greetings on a bright sunny southern Maine early morning and welcome to the Daily Blog. Thank-you for stopping by.

Sunday turned out to be an excellent weather day with those forecasted thunderstorms never appearing. As a result, my logging buddy Kevin and I spent the morning cutting more trees surrounding the barn construction site. Dropping trees is the easy portion of the task if skilled with evaluating tree lean and executing a wedge cut. The tedious work is cutting up and moving branches to the burn pile along with loading lots into the JD2025R front bucket for transport to the log pile. By 11:30 AM, temps had climbed to 80F with the two old guys calling it a day. There are now enough piled logs for at least three trailer loads of firewood. Once the fortified backyard pathway is completed, Kevin will be bringing his trailer for removal and transport of the log pile as he must prepare six wood cords for the upcoming winter heating season.

The afternoon hours were spent in the GFRC office with most of the morning's new offerings being sold. Premium coins, when fairly priced, simply don't last long on the price list.

During the coming week, the GFRC priority is populating the forthcoming Osprey Collection U.S. Gold and Other Important Numismatic Properties online auction catalog and getting the Lakeland Collection consignment to the price list. Already, the Osprey Collection's $1 Dahlonega gold lots have been posted with reserve prices. Simply click on the auction banner, at the top of the Daily Blog, to gain access.

Let's shift the discussion to a Monday morning's blogpost from Seth Godin. I'm starting to detect a more confrontation tone to Godin's blogposts given the degrading behaviors on social media or even on U.S. roadways. People are becoming increasingly rude or self absorbed. My believe is that social media is playing a role in the lowering of behavioral standards. Corruption at the national government level is also sending terrible signals about winner take all rather than civility with fair play. Let's hear what Godin has to say.

Seth Godin Blogpost - Sharp language

The internet has provided all of us with an advanced class on using innuendo, piercing invective and anger to make a point with our writing.

Now, instead of simply seething or ranting, just about anyone can write an email or a social media post that absolutely destroys someone else.

To what end?

If the goal is to persuade, it’s clearly not working.

If we want to let someone know we’re upset, it might be easier to just say so.

The purpose of speech is to alert others to our point of view, and the purpose of conversation is to connect and to persuade.

It’s not clear making language angrier or more cutting is helping much.

 

Presenting More Osprey Collection U.S. Gold Auction Lots

The balance of the Osprey Collection's U.S. gold lots being added into the June/July auction are showcased next. There are noteworthy pieces for advanced collector to consider.

The display opens with a stunning 1899 proof quarter eagle with Deep Cameo certification. How I enjoy photographing and processing cameo U.S gold with its stark contrast between the dark mirrored fields and light gold motifs. The 1916-S $5 Indian is clearly a better date with the all important (+) grade and CAC approval. Type collectors may wish to pay attention to a gem 1932 $10 Indian as a potential acquisition candidate.

All of the following Osprey lots have been posted to the online auction catalog with reserve prices and will be on display at the Summer Baltimore show.

 

Presenting More Osprey Collection U.S. Gold Auction Lot Offerings

1899 PCGS PR64DCAM CAC G$2.5

1916-S PCGS MS63+ CAC G$5                                                   1932 NGC MS65 G$10 CAC Fatty

    

 1898 PCGS MS66 CAC G$2.5              1889-S PCGS MS61 Gold CAC G$10              1901-S PCGS MS63 CAC G$10

            

 

Global Financial News

A new trading week is upon us after last week's market losses. For reference, the S&P 500 stands at 3,901 after dipping into full blown bear market territory in prior trading sessions. The $1,000,000 question is whether the U.S. economy will be in a recession by fourth quarter 2022. Personally, I believe it is a foregone conclusion unless a sharp drop in energy prices is experienced.

Morning market futures are pointing to light buying optimism when markets open at 9:30 AM.

In Asia, Japan +1%. Hong Kong -1.2%. China flat. India -0.1%.

In Europe, at midday, London +1%. Paris +0.1%. Frankfurt +0.6%.

Futures at 6:20, Dow +0.7%. S&P +0.7%. NASDAQ +0.6%.

After dipping to $1800, spot gold is making a comeback with a current quote at $1863/oz. Bitcoin has also moved above the $30,000 mark with a morning quote of $30,455.

Key to the inflation equation is crude oil pricing. The U.S. economic is heavily dependent on energy with crude oil utilized in all aspects of transport, manufacturing, and as a raw material. Higher energy prices will translate into higher food prices. Have you check on the price of diesel fuel at your local gas station?

We find WTI crude priced at $111.15/bbl to start the week. My advice to readers is to continue adding physical gold to a family portfolio as wealth insurance. The beauty of this strategy is that you are paying yourself the insurance premiums and are accumulating wealth as the outcome. Over a ten year time horizon, the accumulated wealth can become substantial.

We find the 10 Year U.S. Treasury bond yield at 2.82% this morning.


Wrapping Up The Blog

Another 8:00 AM Blog publishing deadline is upon us, therefore it is best to run the Dreamweaver spell checker and hit the upload button.

I will be in the GFRC office during the morning hours. My afternoon activities will be a function of Dave Wilkinson's ability to start delivery of brick gravel to complete the upgraded backyard pathway. Otherwise, consignment image processing for the upcoming auction event will be the priority. I'm committed to the goal of having all auction lots on display at the Summer Baltimore show.

Come the July time frame, GFRC will be searching for another round of consignments for the next GFRC Online Auctions event or populating the regular price list. Your support is always appreciated.

Thank-you for making the Blog a morning stop in a day. Be well!

 

 

 

Sunday May 22, 2022

Announcing Osprey Collection U.S. Gold and Other Important Numismatic Properties Sale

Presenting the Osprey Collection's Amazing $1 Dahlonega Gold Consignment

and

Several Wicked Good New Purchases

 

Greetings on another wet and foggy morning here in southern Maine. Welcome to the Daily Blog.

Today's outdoor plans may be on hold due another day of afternoon precipitation including the risk of severe thunderstorms. The alternative is spending the afternoon hours in the GFRC office towards incremental progress on the next GFRC Online Auctions event. Please read on for that event's announcement.

 

Announcing Osprey Collection U.S. Gold and Other Important Numismatic Properties Sale

The time has arrived to schedule and announce the fourth GFRC Online Auction auction sale of 2022. Saturday afternoon brought the construction of the auction banner and preparations to the online content at the Auction link.

I'm pleased to share that the next auction will feature an amazing Dahlonega $1 gold lot from the Osprey Collection. By now, Blog readers should be aware that the 'Osprey Collection" is the branding name for my buddy in numismatics Dan White. Dan has recently acquired two important U.S. gold lots that will be the cornerstone of the upcoming auction event.

Along with a host of premium U.S. gold, early silver type will be out in full force in the upcoming catalog. One of the Liberty Seated coinage highlights is an 1878-S half certified PCGS AG03 with CAC approval. More highlight will be shared during catalog preparation prior to the Summer Whitman Baltimore show. Speaking of the Summer Baltimore show, most lots from the forthcoming auction will be in display at GFRC's entrance side booth. Dan and I will be located at Table 730 immediately to the right of the bourse floor entrance.

OK, it is time to post the new GFRC Online Auctions banner and auction schedule. The event will be entitled the Osprey Collection U.S. Gold and Other Important Numismatic Properties Sale. The auction sale will open on Saturday June 25 and close a week later on July 2 at the usual 9:00 PM ending time.

 

Once again, the online catalog will be constructed in incremental steps. Lots will be added to the catalog as images are completed. Once Len completes his authoritative descriptions, those will be added. Typically, the reserve prices at the final item to be placed in the catalog. Since the auction lots will be on display at Summer Baltimore, the catalog should be populated, at a minimum, with lots prior to leaving for Baltimore on June 7. This provides for two weeks of preparation time including a CAC submission. There is much to get done on my part with today's wet weather being an excellent reason to remain in the office during the afternoon towards making incremental progress.

 

Presenting the Osprey Collection's Amazing $1 Dahlonega Gold Consignment

Before moving forward with today's gallery display, let's check in with Wikipedia for some background on the Mint Act of 1835 and the establishment of three branch mints by the U.S. Congress.

The Mint Act of 1835, established by the United States Congress on 3 March, established "one branch at the city of New Orleans for the coinage of gold and silver; one branch at the town of Charlotte...for the coinage of gold only; and one branch at or near Dahlonega, in Lumpkin County, in the state of Georgia, also for the coinage of gold only.

When the Civil War broke out in 1861, the Confederacy seized the Dahlonega mint. After the war concluded, the mint was never re-opened. Instead, the building remained unused until the founding of the North Georgia College during 1873 and became the main academic building for that learning institution.

Dahlonega branch mint gold was minted in small quantities and is often seen with weaker strikes that those issued from the mother mint in Philadelphia. Collecting Dahlonega gold has been pursued by a host of collectors during the 20th century due to its historical appeal and rarity challenge. CAC approved specimens are always in high demand as many surviving pieces are no longer strictly original.

It is with keen pleasure that GFRC presents the following ten piece $1 Dahlonega gold collection that will be offered at the late June auction event. Eight of the ten lots are currently CAC approved with three Gold CAC offerings. The 1850-D PCGS AU58+ G$1 is an old GFRC friend as previously sold into this collection during September 2021. The 1856-D is a major rarity with only five CAC approved. One of the two AU58 specimens is being offered in the sale with only an MS60 certified example being finer. Those who pursue AU58 CAC approved coinage should pay close attention to this lot given its significance on a host of collecting levels.

 

Presenting the Osprey Collection's Amazing $1 Dahlonega Gold Consignment

Part of a Spectacular July 2022 GFRC Online Auctions Event

 

  1849-D NGC AU55 CAC G$1                                                   1850-D PCGS AU58+ CAC G$1

    

1851-D PCGS AU58 CAC G$1 OGH                                           1852-D NGC AU58 G$1 OGH    

    

1853-D PCGS AU53-D Gold CAC G$1 OGH                                           1854-D NGC AU58 G$1                 

    

1856-D PCGS AU58 CAC G$1 OGH                                            1857-D PCGS AU50 CAC G$1    

    

1859-D PCGS VF35 Gold CAC G$1 OGH                               1860-D PCGS EF40 Gold CAC G$1 OGH

    

 

Several Wicked Good New Purchases

Wicked Good! is a Maine downeast term that occasional finds its way into GFRC coin descriptions. The following six piece lot features more new purchase that continue GFRC effort towards offering premium type coins at fair prices. One look at the 1917 Type NGC MS66FH CAC Standing quarter images promptly spawned the wicked good descriptor. I believe you will agree that the toning is simply amazing along with the complete strike.

I was quite confident that the 1829 LM-5 Capped Bust half dime would be approved at CAC along with the 1901 Barber dime. Unfortunately, they were not but still remain as gems for the grade. The 1847 half dime is downright awesome in its old NGC Fatty holder with CAC approval. The 1861 $5 gold offering was issued at the start of the Civil War.

These six lots will be posted to the price list by the afternoon hours. If interested, please send a prompt email with pricing inquiry.

 

Several Wicked Good New Purchases

1917 Type I NGC MS66FH CAC 25C

1829 LM-5 PCGS MS62 H10C                                                     1861 PCGS AU53 CAC G$5     

    

1847 NGC AU58 CAC H10C Fatty                      1901 PCGS MS64 10C                              1901-S PCGS EF40 10C           

            

 

Wrapping Up The Blog

Let's end this Sunday Blog edition at this point as there has been considerable content as a reward for a weekend morning visit. I still plan to get some chain saw work done during the morrning hours and will be heading to the barn preparation site shortly.

Thank-you for stopping by. Be well!

 

 

 

Saturday May 21, 2022

The Homestead Barn Project - Heavy Load Pathway Progress

GFRC Online Auctions - Osprey $1 Gold and GFRC Community Numismatic Properties

and

Incremental Consignments Continue to Arrive!

 

 

Greetings on a wet and foggy early Saturday morning here in southern Maine. As always, thank-you for stopping by at the Blog.

Memorial Day weekend is right around the corner and the traditional start to the Maine summer tourist season. Lakes Region businesses, along with many coastal Maine communities are dependent on tourism for a healthy economy. After several years of the Covid-19 pandemic, most everyone was looking forward to taking a vacation. Unfortunately, the landscape has shifted during 2022 to that of higher travel costs and lower hotels standards due to a worker shortage. Hopefully, these factors can be overcome.

Matt Yamatin called in last evening and shared that all is well in Boston and with his TMO leadership activities. In one month, Chickadee and Natsumi will be flying back to the United States, ending their adventure in mainland China. Come the week after the Summer FUN show, Diane and I will be blessed with Natsumi presence for a week at the homestead.

Friday afternoon brought incremental progress on the heavy load pathway project. The below image summarizes the status including illustrating the spring foliage in the background. I've dug and preserved as much usable topsoil as possible for the beautification project phase. Sod has also been carefully stacked for reapplication. You will note that a few bucket loads of brick gravel has been transported towards filling in holes and creating JD2025R access. This is the same brick gravel that is being employed for filling the wet spots along the back acreage trails. Dave Wilkinson is busy today, therefore truck load brick gravel deliveries will be delayed until Monday. Once those deliveries arrive, this project will move along quickly towards completion.

My attention shifts this weekend to chain saw work in the barn construction area. Remaining are several pine and oaks that must be dropped and cut.

 

The Homestead Barn Project - Heavy Load Pathway Progress

 

GFRC Online Auctions - Osprey $1 Gold and GFRC Community Numismatic Properties

The time has arrived to announce the title for the upcoming GFRC Online Auctions event that will take place in the late June and early July time frame.

The auction's marquee offering is an incredible set of $1 branch mint Dahlonega gold that has been recently acquired by the Osprey Collection. I've had the pleasure of photographing and conducting initial image processing for this amazing collection. Most pieces are graded at the AU level with either Green or Gold CAC approval. I'm also pleased to report that Len Augsburger is on board for cataloging.

1850-D PCGS AU58+ CAC G$1

As a teaser, let's list the content of this amazing collection and recent Osprey Collection purchase. If today goes as planned, Sunday morning's Daily Blog edition will showcase the significance of this lot. Here goes:

Dahlonega $1 Gold: 1849-D NGC AU55 CAC, 1850-D PCGS AU58+ CAC, 1851-D PCGS AU58 CAC OGH, 1852-D NGC AU58, 1853-D PCGS AU53 Gold CAC OGH, 1854-D NGC AU58, 1856-D PCGS AU58 CAC OGH, 1857-D PCGS AU50 CAC, 1859-D PCGS VF35 Gold CAC OGH, and 1860-D PCGS EF40 Gold CAC OGH.

The 1852-D and 1854-D gold dollars are heading to CAC on Monday along with other important numismatic properties that have arrived in the past week or so.

Please stay close to the Daily Blog as there will be many more announcements of forthcoming auction lots. My goal is to have auction contents on display at the Summer Baltimore show, Table 730.

 

Incremental Consignments Continue to Arrive!

The GFRC office has seen a host of USPS package deliveries this week as consignments continue to arrive. I'm loading those into the COIN system as quickly as possible along with accomplishing photography during clear blue sky days. Unlike Florida, Maine weather is unpredictable. Extended periods of rain and clouds are commonplace in northern New England as has been the case for the past three days.

The followed gallery contains two consignments that appeared earlier this week with nearly all being CAC approved. The Liberty Seated lots are from yet another first time consignors who is returning prior GFRC purchases after being upgraded. All have been posted to the price list with the 1869-S Seated half already on hold.

The lovely $2.5 and $5 Indian gold pieces are from the Osprey Collection. Dan and I have decided to post the lower priced lots, within his new consignment, to the price list while the higher end pieces will become the foundation for the next GFRC Online Auctions event.

 

CAC Approved New Offerings to Consider

1872-S NGC AG03 CAC 25C                                                       1912 PCGS MS62 CAC G$5

    

 1851-O PCGS VG10 CAC 25C                        1873-S PCGS EF40 25C                          1859 PCGS AU55 CAC 50C  

            

 1869-S PCGS EF45 CAC 50C              1926 PCGS MS62 CAC G$2.5 OGH               1929 PCGS MS63 CAC G$2.5

            

 

Wrapping Up The Blog

Morning shipping is substantial and must be completed by 11:30 AM since there is no regular USPS mail delivery on Saturdays due to staffing issues. Instead, your host will drive into Raymond for a shipment drop-off and retrieval of GFRC payment checks. Yes, this is an inconvenience but also a sad reflection on the state of the local economy. Again, finding individuals who are willing to work is becoming more challenging. I'm afraid that self reliance will become ever important in the upcoming two years. Enough said, please read between the lines.

The GFRC office is open today like any other day. Come mid-afternoon, I will be working at the barn construction site with the chain saw for a few hours. Your afternoon emails and phone calls will be responded to either before or after the dinner hour.

Thanks again for being regular Daily Blog readers. Be well!

 

 

 

Friday May 20, 2022

Possibility is fragile...

and

Summer 2022 Baltimore Show - GFRC at Table 730!

 

Greetings and welcome to the Daily Blog on a Friday morning. We appreciate the ongoing monitoring of GFRC offerings and news.

The day starts with the homestead shrouded in thick fog. Thursday afternoon rains were substantial with the lawn promptly shifting to bright green hues. Every rain event is precious when attempting to present an appealing landscape for the area community.

Lynn and Terry were over last evening for a grilled cod dinner, ping-pong, and time in the base sound room. The company was excellent and a good time was had by all.

As a result, there is no prepared content for today's Blog edition. Instead, let's consider a message from Seth Godin for those who see possibility and take the leap towards realization.

Seth Godin Blogpost - Possibility is fragile

And that’s the paradox, because the closer possibility gets to reality, the more it engages with the unforgiving edges of the real world.

As we begin to imagine something better, it’s important to have some insulation, room to believe and a chance to fill in the missing pieces.

But then we have to allow the constraints of reality to intersect with our beautiful new conception.

And when that happens, it’s easy for all of our imaginings to simply evaporate.

But fragile doesn’t mean impossible. Possibility looms around every corner if we’re willing to bring resilience and iteration to the dance as well.

Yes, it might not work. But deciding that in advance undermines the value of the gift we intended to bring people.

The GFRC Online Auctions platform is such a situation where a vision for an integrated auction and price list service would be an ideal selling solution for consignors. There were possibilities but also risks. Would a simplified online bidding platform be accepted by the community? Would collectors feel comfortable consigning collections to this alternate platform instead of using well established auction houses? The risks were known. The possibility of rolling out a new concept was just too strong to ignore. You can be the judge as to whether this new concept is being well received.


June 9-11 Summer 2022 Baltimore Show - GFRC at Table 730!

Thursday brought an email from the kind Whitman staff announcing the GFRC table location for the upcoming Summer Baltimore show.

I'm pleased to announce that GFRC will be located at Table 730. Our table is positioned on the main aisle to the right of the bourse entrance. The layout will facilitate a long display of GFRC inventory across three eight foot tables including lots from the upcoming early July auction event.

The Whitman show arrives in just 2.5 weeks with a host of preparations being underway. Gerry, Dan, and Jim look forward to meeting with clients at this important summer show. The show is an ideal opportunity for consignment drop-offs and saving shipping cost along with those ongoing USPS transport worries.

 

Summer Baltimore Show - See GFRC at Table 730!

 

Global Financial News

The final trading day of the week begins shortly with morning market futures pointing to a reasonable strong open. The S&P 500 has fallen to 3900 this week and is bordering at a 20% correction from 2021 highs. Stringing several optimistic trading days together has been elusive in the current negative economic environment. The following excerpt from Seeking Alpha's Wall Street Breakfast illustrates recent losses for major components of the S&P.

Trillions in value erased: Only eight companies (of the 500 in the index) are responsible for nearly half of the weighted benchmark's year-to-date losses. Declines at Netflix have reached 70%, Meta and Nvidia are each down 43%, while Microsoft, Apple, Amazon, Alphabet, and Tesla have fallen between 23% and 36% YTD. Under a theoretical model, if S&P Dow Jones Indices designed an equal weighting to the entire S&P 500, the index would only be down 13% in 2022 (but investors would also not have experienced the massive gains they notched in previous years).

Given the quality of the beat up technology names (Microsoft, Apple, Google, Tesla), a relief rally should appear at some point.

In Asia, Japan +1.3%. Hong Kong +3%. China +1.6%. India +2.9%.

In Europe, at midday, London +1.8%. Paris +1.4%. Frankfurt +1.9%.

Futures at 6:20, Dow +1%. S&P +1.2%. NASDAQ +1.6%.

We find WTI crude at $110/bbl as the summer driving season is just days away. Spot gold is recovering with a morning quote of $1843 along with Bitcoin just barely back over the $30,000 mark.

The 10 Year U.S. Treasury bond yield is unchanged at 2.86%

 

Wrapping Up The Blog

I will be in the GFRC office until 2:30 PM focused on consignments for the upcoming June/July GFRC Online Auctions event. Please don't be bashful with calling in an order. Emails are also effective.

Come mid-afternoon, the attention shifts to the backyard reinforced pathway project and digging out the last of the top soil. Dave will arrive on Saturday with the first of several loads of brick gravel for building up that location.

Thank-you for visiting at the Daily Blog and please come back on Saturday morning. I'm not certain on what the content will be but maybe, just maybe, there could be an exciting gallery display to consider.

Be well!

 

 

 

Thursday May 19, 2022

Digging in the Backyard

and

Everything But the Kitchen Sink Offerings!

 

Greetings on a Thursday morning and welcome to the Daily Blog. The Maine homestead and GFRC business saga continues....

Let's try to keep today's edition on the shorter side after Wednesday's lengthy ramblings. The office is packed with new consignment arrivals that must be loaded into the COIN system followed by yet more image processing.

Wednesday brought the usual GFRC activities leading to a wide ranging new purchases gallery for consideration. I made a firm commitment to myself that by 2:30PM, I would be back on the JD2025R digging up the backyard and preparing for a fair number of crushed brick gravel deliveries by Dave Wilkinson. The updated roadway must be robust enough to support a 30 ton truck. This is not a sandbox exercise, but rather real world with heavy equipment arriving for the barn construction project come June time frame.

Much needed rain is forecasted to arrive this afternoon just in time for a previously schedule dinner party with local friends Lynn and Terry. I may be grilling cod and asparagus in the rain, really not a big deal as on/off grill timing is predictable at 8 minutes. This is not a flipping burgers exercise.

Let's move on with today's ramblings. First up is a report on the backyard digging project.

 

Digging in the Backyard

Every major project typically has three important phases. First is preparations followed by the execution phase. Clean-up and beautification is the last step with considerable importance when dealing with landscaping.

These three phases are the basis for the upgraded backyard pathway effort. The past two days have been focused on preparations and carefully saving sod and top soil for reuse during the final beautification phase. The JD2025R and my trusty D140 lawn tractor with dual wheel Polar cart have been busy moving quality soil out of the area and stockpiled for reuse.

Following are two images that hopefully illustrate the progress bring made, but also the challenge being faced with leveling a steep slope.

The first downhill image captures the sod and top soil removal from the upper bank side of the pathway. This material is being carefully arranged behind the birch tree for reuse. Please note the severity of the downhill slope that must be leveled and compacted.

 

This second uphill image captures the digging status after calling it quits yesterday. The sod is also being removed on the down side of the bank for reuse. The distance between the upper and lower disturbed areas will be filled in with crushed brick gravel and leveled. The drop from the upper to lower sides (left to right) is substantial with a bank being necessary at the lower side edge. I've yet to determine how the edge of that bank will be tapered and additional sod that may need to be removed.

 

Friday brings more digging and removal of any reusable top soil as I have a feeling that much will be needed during the beautification phase. The D140 lawn tractor and Polar cart will be placed in the path's center while the JD2025R's backhoe will remove usable soil in the dug areas. Step by step, the two pieces of equipment will be moved downhill to complete site preparation.

Dave will transport the first brick gravel delivery on Saturday. We will start building up the top of the disturbed area and developed a technique for spreading and banking the gravel on the lower edge. More images and reporting will be shared during the coming days.

 

Everything But the Kitchen Sink Offerings!

Today's diverse new purchases gallery features a little something for everyone in the community. Please feel free to email a price inquiry as all of the following pieces are immediately available. I'm looking at another $60,000 new purchase opportunity come next week and must sell existing new inventory to fund this acquisition.

GFRC images are truly representative of the individual pieces as much effort has been placed into exact color matching. Currently, one inquiry for the semi-Pl 1827 JR-6 Capped Bust dime has been received. The balance are fair game as of the Blog publishing time.

 

Everything But the Kitchen Sink Offerings!

Price Quote Requests Via Email Please

 

1948 PCGS MS67FBL 50C

1822 JR-1 NGC AG03 CAC 10C                                                      1827 JR-6 NGC AU55 10C

    

1841 DDR Briggs 1-A NGC MS61 25C                                           1843 Briggs 3-D NGC MS63 25C    

    

 1875 F-101 ANACS MS62 10C OWH                      1908 PCGS MS64 10C                               1857-O NGC AU55 25C            

            

 1858 PCGS AU58 50C                            1958-D PCGS MS66FBL 50C                            1964 PCGS MS65 50C

            

 1881-S NGC MS64 $1 

 

Global Financial News

Blood in the Streets is a fitting Thursday Wall Street Breakfast headline to capture current investor sentiment as the retail sector has a serious cost issue.

Target and Walmart earning reports sank the markets on Wednesday. The reality of high inflation and cost impacts on businesses and the average consumer is appearing in real world data rather than Federal Reserve guidance. Sorry, but I'm firmly convinced that the current administration does not have the skills or experience to tackle the inflation crisis that is gripping the nation. They have punted to the Fed for a solution while political bantering continues due to an election year. The fact that Elon Musk has moved to the Republican side and Jeff Bezos is challenging Biden could be an indication that there is more trouble on the horizon. These business leaders have built empires and understand how economies function.

Morning market futures are ugly again and who knows where the bottom of the current selling cycle will be? Investor throughout the globe are worried about a severe recession.

In Asia, Japan -1.9%. Hong Kong -2.5%. China +0.4%. India -2.5%.

In Europe, at midday, London -2.5%. Paris -2.2%. Frankfurt -2.1%.

Futures at 6:20, Dow -1.6%. S&P -1.6%. NASDAQ -1.9%.

About the only thing that will reduce oil prices, at this point, is a global recession where energy demand is curtailed. We find WTI crude at $104.52/bbl to start the day. Spot gold is moving about at $1828/oz. Bitcoin has finally broken down below the $30,000 and is priced at $29,031.

The 10 Year U.S. Treasury yield has dropped to 2.82%.

 

Wrapping Up The Blog

Time to wrap up and get on with another day before the late afternoon dinner party in the rain. After dinner, we are heading to the basement sound room for ping-pong (this gets serious between Gerry and Terry) followed by a rock concert on the sound system.

I will be in the office until 4:30 PM and actively responding to emails and phone call. Afterwards, it is adult beverages time...

Thank-you for checking in at the Blog. Be well.

 

 

 

 

Wednesday May 18, 2022

Homestead Barn Project - Issues Resolved

and

Is the US Dollar Really Stronger Or?

 

Greetings on a cold southern Maine morning and welcome to the Daily Blog. Your visits are much appreciated along with the private emails on various topics.

Yes, the winds are vigorous this morning at 15mph with a cold temperature of only 47F. On a positive note, the view from the office window is a 100 times better than from the Venice office condo cave. I'm so grateful for being back home in Maine.

Tuesday brought one of those great days in a life. Response to the Twin Lakes Collection offerings has been fantastic with a near sell out of posted items. When premium duplicates are released back into the marketplace, thirsty collectors promptly step up regardless of a coin being CAC approved or not. On the barn project front, there was important progress that will be detailed next. Visiting the Blog is not all about numismatics, but rather about persistence and overcoming obstacles when taking on quests that are out of our comfort zones. My dear readers, this is continuous learning...

 

Homestead Barn Project - Issues Resolved

The decision to use a 3' frost wall versus haunch slab design for the barn project had been on my mind all weekend. Attempting to locate a local foundation contractor with forms for a 3' frost wall resulted in zero returned phone calls. Pete Theberge had a similar situation in the Lewiston-Auburn area which is 20 minutes away. The conclusion was to go with the haunch design or delay the construction project until 2023.

Two important steps were taken on Tuesday morning. First came the delivery of two incremental loads of 1.5" stone by Dave Wilkinson. While at the homestead, we mapped out where the backyard pathway must be expanded to handle 30 ton trucks, not an insignificant task with the JD2025R. While with Dave, we had a serious discussion concerning the frost wall and haunch slab options. Given his 30 years of experience in the field, I value his guidance. Dave's recommendation was to continue forward given the rocky soil and our plans for several feet of brick gravel under the 6" slab. If the soil was soft with clay, he would want a 3' frost wall slab to insure no shifting of the foundation over time. Given the growing friendship with Dave, I made the decision to go back to the haunch slab option.

Once the conversation, was done. Off I went to Raymond Town Hall with diagrams of a haunch slab and the permitted 3' frost wall per Hammond Lumber technical drawings. I was in luck as the code officer was in his office and had time to meet with me. The entire situation was presented to the officer followed by review of the haunch slab diagram. I pointed out that we will pour a 6" slab against the standard 4" protocol. He agreed to amend the building permit if I secured critical haunch slab dimensions and updated my application with this addendum. I was free to pay for the permit and provide the addendum at a later date.

Therefore, the project is moving forward as planned. Now the challenge is building a robust pathway for heavy equipment to access the construction site.

During the afternoon hours, that effort began using instructions provide by Dave. I will do the tractor work while Dave hauls in loads of brick gravel as the pathway base. Following are two image that illustrate the project scope. First is the marking of the outer pathway edge with yellow construction ribbon. The inner pathway edge is high on the bank and is marked with compressed dump truck tire tracks. The reinforce pathway must be wide enough for large truck egress while still preserving that beautiful birch tree. The different in elevation from the inner edge to outer edge is substantial and will require a fair number of brick gravel deliveries. You might note that I scrapped the usable small stone in that area and dumped at the upper top left prior to taking this picture.

 

The initial step is using the JD2025R and JD140 lawn tractor as an operating team to remove existing sod and top soil on the high bank side. That area is the starting point for the reinforcement project. The sod is being removed with the backhoe and placed into the dump cart behind the lawn tractor. Afterwards, the sod is carefully stacked for reuse along the outer edge of the elevated pathway bank once completed.

 

My plan is to spend a few hours per day conducting the site preparation and hopefully have Dave hauling in brick gravel by Monday. I hope that Hall Implement has a sense of humor concerning the growing number of hours on the trade-in JD2025R.

 

Is the U.S. Dollar Really Stronger Or?

During the past several months, the U.S. dollar has risen to a high of 104 as measured by the DXY index. What has been bothering me is that spot gold prices has been holding somewhat steady in the face of a rising dollar. This did not make sense with spot gold finally correcting last week into the low $1800/oz range.

Yesterday brought the explanation via the Daily Reckoning's 5 Minute Forecast daily newsletter that I had been searching for but with little time to conduct research. Bottom line, the U.S. dollar is strengthening, as measured by DXY due to other currencies growing weaker. Following is that explanation courtesy of the 5 Minute Forecast and Jim Rickards.

“In the past year, DXY has risen from 90.71 (an already high baseline) to 104.00 (the highest level since December 2002). That’s a 14.6% gain in one year, a huge move in the normally stable world of foreign exchange rates.”

Just one problem — the makeup of the DXY. It’s heavily skewed toward America’s European trading partners. Heck, the euro accounts for over 50% alone… There’s no emerging-market presence. No Chinese yuan, Indian rupee, Brazilian real or Russian ruble (which, by the way, is still at year-to-date highs against the dollar, sanctions notwithstanding).

“If you use a more objective measure of dollar strength — the dollar price of gold — you discover another dynamic,” Jim Rickards states.

“The dollar price of gold was $1,836 per ounce on May 11, 2021, and was $1,833 per ounce on May 11, 2022.”

Yes, there was volatility along the way, but “what remains striking is that the dollar/gold cross-exchange rate has turned out to be unchanged over a challenging year of pandemic, war and inflation.

“What this implies is that the rise in DXY is not really about dollar strength (otherwise we’d see a much lower price of gold). It’s about the weakness of the other currencies in DXY.”

For that reason, a chart of gold priced in euros, yen or pounds looks way more impressive than a chart of gold priced in dollars.

Speaking of those three currencies, let’s take a quick survey of their performances — seeing as they’re the DXY’s three biggest components:

“In short,” says Jim, “dollar strength is not the best description of the rise in DXY. The index should properly be viewed as a measure of weakness in major trading partners of the U.S. The more accurate analysis is to think of the dollar as standing still (as indicated by the dollar price of gold) while major currencies crash all around it.

I believe this explanation was worth sharing....

 

Global Financial News

Tuesday's morning market futures were, for once, an accurate forecast of trader sentiment and closing market positions for the day. The benchmark S&P 500 rose to 4,089 with gains in the DJIA and NASDAQ.

Today's morning market futures indicate a slight negative bias when trading opens. All global markets are flat, other than Japan.

In Asia, Japan +0.9%. Hong Kong +0.2%. China -0.3%. India -0.2%.

In Europe, at midday, London flat. Paris flat. Frankfurt +0.2%.

Futures at 6:20, Dow -0.1%. S&P -0.2%. NASDAQ -0.4%.

WTI crude pricing has pulled back slightly to $111/bbl. Spot gold is flat at $1819/oz while Bitcoin is treading the $30,000 mark. The 10 year U.S. Treasury bond yield stands at 2.97%.

Let's check this morning's Wall Street Breakfast for two opposing views on the U.S economy. First is Fedspeak from Jerome Powell at yesterday's Future of Everything Festival event.

Quote: "The underlying strength of the U.S. economy is really good right now. The U.S. economy is strong, the labor market is extremely strong. It is still at very healthy levels. Retail sales numbers, the economy is strong. Consumer balance sheets are healthy. Businesses are healthy. The banks are well-capitalized. This is a strong economy. We think it is well-positioned to withstand less accommodative monetary policy and tighter monetary policy. Of course, we do monitor global events, and global events have been important to our economy. The war in Ukraine is something that has upset the global commodity picture, while also threatening the global world more broadly."

"As a policymaker, the way I'm thinking about it right now, we are raising rates expeditiously to what we have been seeing is a more normal level, which is something that we will reach maybe in the fourth quarter. But it is not a stopping point. It is not a looking around point. We don’t know with any confidence where neutral is. We don’t know where tightening is. We just know in this market, higher inflation and very strong growth. What we are going to be looking at, meeting by meeting, data reading by data reading, is what is happening in the financial conditions, what is happening with the economy."

Next is Walmart's Q1 earning report summary. Walmart is an excellent proxy for the buying behavior of U.S consumers.

First quarter results from Walmart rattled the retail sector on Tuesday, with a slew of other chains set to report earnings this week. Investors were shocked to hear about Walmart's 25% drop in earnings from January to April, sending the stock down more than 11% during the session for its biggest drop since 1987. Another black eye for the company was a major guidance cut, which now forecasts Q2 EPS and consolidated operating income to be "flat to up slightly" and full-year EPS to be "down about 1%."

CEO Doug McMillon: "Bottom line results were unexpected and reflect the unusual environment. U.S. inflation levels, particularly in food and fuel, created more pressure on margin mix and operating costs than expected. We're adjusting and will balance the needs of our customers for value with the need to deliver profit growth for our future."

Walmart's Q1 earning report is real world data and is reflective of the state of the average U.S. consumer given the insidious inflation working through our supply chain.

 

Wrapping Up The Blog

I hope that you've enjoyed today's Blog edition. There was little to discuss in terms of the GFRC business and new offerings given the attention paid to the homestead barn project.

I will be in the office through 2:30 PM. Afterwards, time was be spent wrapping up the sod removal and preparation of the higher side bank area.

Once again, be well and thank-you for spending time at the Daily Blog.

 

 

 

 

Tuesday May 17, 2022

Twin Lakes Collection Offerings - Part 2

and

Eye Appealing Indian Cents to Consider

 

 

Greetings on a Tuesday morning and welcome to another Daily Blog edition. Your ongoing patronage is most appreciated.

From the it is difficult to believe file, in just two months, the Daily Blog will be celebrating its eighth birthday. That is correct. The first edition was published way back in early July 2014. Since that time, every day typically starts with yours truly staging a two hour composition period as a numismatic life is lived online.

Let's shift gears....

The early morning view outside the office window is marvelous given the spring progression from bare branches to partially exposed leaves on the mighty oaks. Overnight rain has dissipated with the front landscape approaching a lush green state. The flowering plum has produced its red flowers against a crimson leafy backdrop. Yesterday's mowed lawn nicely augments the view.

Last evening, I mentioned to Diane one of the reasons I love living at the Maine homestead. When positioned on the top of a 950' hill, one can experience shifting weather patterns as part of a lifestyle. Each Maine day is different with weather monitoring being necessary to accomplish outdoor activities. While sitting on the back deck at 6:00 PM last evening, the temperature dropped quickly and the winds kicked up. Fog was slowing rolling in from the coast line to the foothills while the overhead rain clouds moved in from the northwest.

It is now 6:30 AM and I've just returned to the office after attempting to hunt down one of two red squirrels that have decided to camp out at the homestead. Red squirrels are destructive creatures if they can gain access to a building. Hunting a lightning fast red squirrel with only a 0.22 pistol and short ranged shot shell is a challenge to say the least. I've delayed the purchase of a Gamo 0.177 pellet air rifle as there is just so much taking place on other fronts. Today will be the day to make that purchase as the red squirrels must be eliminated before a potential population expansion.

Dave Wilkinson arrives during the afternoon hours with two incremental loads of 1.5" stone for the back trail project. While here, we will stake out the expansion of the stone pathway down to the future barn construction site. That pathway must be upgraded into a "road" capable of support a 30 ton crane and also a cement pumper truck. The plan is to remove some sod and topsoil followed by hauling in multiple loads of recycled brick/gravel to build up the area at the edge of the leach field. There will be forthcoming before and after images, in the Blog, as the backyard infrastructure is upgraded consistent with the barn and wood removal projects. Finding the balance between constructing a solid road while not disturbing the back yard aesthetics is the challenge.

 

GFRC Online Auctions June/July 2022 Event Update

Wow! The Osprey Collection has procured a fantastic gold collection that will become one of the main auction offerings.

I was not fully aware of the magnitude of the collection until Dan sent along three invoices consistent with his Monday USPS Express shipments to Maine. Those shipments total approximately $140,000 in upcoming reserves with the majority being CAC approved small denomination branch mint U.S gold.

Monday also brought a CAC submission for a subset of another consigned lot targeted for the June/July auction event. My goal is to have a top shelf GFRC Online Auctions display at the Summer Baltimore show (June 9-11, 2022).

If wishing to participate in the forthcoming auction, please contact me promptly with a proposal. Based on current and pending shipments, this auction event has already crossed through the $200,000+ reserve level.

 

Signature Confirmation is Required for GFRC Insurance Coverage

Let's take the time to remind clients that all GFRC insured shipments, via USPS Express, must be conducted with Signature Confirmation.

Please note that checking the USPS form and Signature Confirmation box is not adequate. The USPS receipt must state Signature Required as evidence for a potential insurance claim.

Dan White ran into this problem yesterday at the Essex CT post office counter. His three Express forms were clearly checked for Signature Confirmation. However, the clerk did not update the confirmation status on the USPS computer resulting in Dan walking out of the post office with a Signature Waived note on the receipt and no insurance coverage. Once noted, he returned to the post office to have the receipt corrected.

Any client who ships coins to GFRC on my insurance should tell the USPS clerk that Signature Required is mandatory on the receipt. It makes sense that USPS wishes to use Signature Waived as a computer default setting to save the carrier the trouble of securing a signature during delivery.

 

Twin Lakes Collection Offerings - Part 2

I'm pleased to be showcasing the final installment of the newest Twin Lakes Collection consignment in today's Blog. Our gallery features a nice mix of Seated and U.S. gold coinage. Pricing inquiries are quickly arriving so don't delay securing a quotation. Already, there are two requests for the 1875-S F-102a dime and a request for the 1907 No Motto $10 eagle.

These lots will be posted to the price list by end of day.

 

Twin Lakes Collection Offerings - Part 2

Price Quotes are Available - Please Email

 

1840 RPD WB-102 PCGS AU58 50C                                                   1885 PCGS AU58 50C             

    

1907 No Motto PCGS AU58 G$10                                                   1904-S PCGS AU58 G$20    

    

   1874 F-103 PCGS MS62 10C             1875-S BW F-102a PCGS AU58 10C                 1881 PCGS AU58 CAC G$5    

            

1899-S PCGS AU58 G$10 OGH                      1904 PCGS AU58 G$20        

       

 

Eye Appealing Indian Cents to Consider

I was up early at 4:00 AM and took the opportunity to complete image processing for an eye appeal Indian cent lot in the new purchases double row slabbed box. Those new purchases are aging as priority has been assigned to client consignments. Once the Twin Lakes consignment is fully posted, I will be dipping into that box for several galleries of great new offerings.

Consistent eye appeal best describes the following five lovely Indian cents with the 1891 PCGS MS63RB cent certain to capture significant attention for its colorful toning and superior eye appeal. The gem 1871 NGC MS65RB Indian, with CAC approval, should also garner some interest.

 

Eye Appealing Indian Cents to Consider

Price Quotes are Available - Please Email

 

1871 NGC MS65RB CAC 1C Fatty

1864 CN PCGS MS62 1C                                                             1891 PCGS MS63RB 1C

    

1892 PCGS MS63BN 1C                                                          1905 PCGS MS62BN 1C

    

 

Global Financial News

Monday brought a flat trading day for U.S. equities which in itself was great news. The week started without any anxiety fueled sell-off on the news of the day. A flat trading day might have been the long awaited medicine as this morning market futures are flashing green throughout the globe.

U.S. equity markets are forecast to open with an average 2% gain after Europe also traded higher. Let's hope that the optimism holds to the end of trading day with the S&P solidly recovering above the 4,000 level.

In Asia, Japan +0.4%. Hong Kong +3.3%. China +0.7%. India +2.5%.

In Europe, at midday, London +0.9%. Paris +1.4%. Frankfurt +1.5%.

Futures at 6:20, Dow +1.6%. S&P +1.9%. NASDAQ +2.3%.

Watch out as the Summer 2022 driving season is quickly approaching while WTI crude oil has increased to $115/bbl. It appears that we will be seeing $5.00/gallon premium gasoline in the heavily taxed states of New York and New Jersey. Maine is not much better....

After flirting with the $1800 level, spot gold is back to $1826 this morning and still appears to be oversold.

Bitcoin has moved back to $30,503 though is much "investor" anxiety in the cryptocurrency space. I'd rather own that old relic (physical gold) that having numbers in a digital wallet.

The 10 year U.S. Treasury bond yield has stabilized and is quoting at 2.92%

 

Wrapping Up The Blog

This has been a long Blog edition with readers gaining a detailed view into my daily routine and project challenges. I hope that the visits are fun and worthwhile.

Let's wrap at this point. Yes, I will be in the office until about 2:00 PM when Dave Wilkinson arrives with his 1.5" stone deliveries followed by strategizing the pathway expansion project.

Please don't be bashful with coin purchase inquiries as I will respond promptly. Those responses may be after dinner time or during the early morning hours before Blog composition starts.

Thanks again for stopping by. Be well!

 

 

 

Monday May 16, 2022

The Last Wood Pile on Ledge Hill Trails Main Pathway

and

CAC Approved Early Commemorative U.S Gold to Consider

 

Greetings and welcome to the Daily Blog as we move into the second half of May 2022. Thank-you for checking in.

Fog and light rain will be with us today making for an ideal GFRC office day. There is the balance of the Twin Lakes Collection consignment to process along with a CAC submission to prepare.

Reality has set in on the barn project. A steep downhill path to the construction site dictates a firm roadway for heavy equipment to gain access. Secondly, I've quickly learned of different foundation construction techniques. There is the classic 3' frost wall approach (best) along with the haunch approach that is inferior with an 18" perimeter base depth along with center slab. The Town of Raymond permitting process approved the recommended Hammond Lumber 3' frost wall approach which precludes Pete Theberge's contractor. There are different wood forms for the 3' frost wall vs. haunch foundation styles. Starting today, I will be on the phone with greater Portland area foundation firms to check on availability and schedules. Since it is already mid May with the construction season underway, I am not hopeful of bringing this project together during the summer of 2022. If the foundation can be installed by September, that will be good enough for this year.

I'm also mentally prepared for the need to build a stronger roadway down to the construction site for a concrete pumper truck and crane. These are huge pieces of equipment that need a firm roadway. Once the construction is complete, the roadway can be landscaped or partially removed.

Moving back to numismatics and the coin business....

Yet another consignment proposal appeared during the weekend with a lovely seven piece Seated lot shipping today. Retail value is a tad over $10,000 which is squarely in the GFRC wheel house.

This week also brings multiple lots that will populate the forthcoming June/July time frame auction event. Dan White has purchased an impressive $1 gold branch mint collection that will be included in the sale. Nearly all are CAC approved! More Liberty Seated dime consignments are due to arrive this week. What is needed, at this point, is several consignments of Liberty Seated half dimes, quarters, and halves to expand the auction catalog. I'm open to all proposals. (207-329-9957 or gerry@seateddimevarieties.com)

Sunday brought a few hours on the JD2025R and the ongoing back acreage trails construction challenge. I'm working through wet locations on both the northern and southern trails which requires a considerable amount of stone and crushed brick for a solid base for the John Deere tractor to move freely about.

After wrapping up for the day, this photo of the main access road was taken from the tractor (call me lazy). The image should provide a sense of the sloping terrain. The large pile of logs on the right were cut on Saturday with Kevin on the chainsaw and Gerry lifting each tree trunk with the 2025R backhoe. The wood pile will be loaded onto Kevin's trailer once the grapple is repaired. I'm waiting for a call from Hall Implement to retrieve the grapple for evaluation at the shop in Windham. Therefore it could be awhile before these logs are removed and transported by Kevin.

 

The Last Wood Pile on Ledge Hill Trails Main Pathway

 

 

CAC Approved Early Commemorative U.S Gold to Consider

Here are two lovely early U.S. commemorative gold offerings that will post to the price list today. Both are CAC approved. The 1915-S Pan-Pac is artistically pleasing with the reverse circular dolphins while the McKinley presents a traditional obverse portrait and reverse building.

CAC Approved Early Commemorative U.S Gold to Consider

1915-S Pan-Pac PCGS AU58 CAC G$1                                       1916 McKinley PCGS MS65 CAC G$1

    

 

Global Financial News

Equity market pessimism prevails after reading commentary from Goldman Sachs and listening to a Blackrock interview. The insidious effects of inflation will be with us through the balance of 2022. The key question is how will investors reaction to a potential recession? The Blackrock interview stressed that American consumers remains strong with low debt and cash reserves that were accumulated during the pandemic. The next three months will be quite telling, especially as we enter the mid-term election season and no end is sight for the the Russia-Ukrainian conflict.

Morning market futures are essentially flat to slightly negative which is comforting to start a week. Earning seasons is here and a driver of trader sentiment.

In Asia, Japan +0.5%. Hong Kong +0.3%. China -0.3%. India +0.3%.

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

Futures at 6:20, Dow -0.1%. S&P -0.3%. NASDAQ -0.5%.

The energy sector is a bright investment spot with WTI crude still firmly in demand. Today's starting price quote is $110/bbl.

Spot gold pricing has dropped to $1803/oz while Bitcoin is slightly below the key $30,000 mark at $29,910.

The 10 Year U.S. Treasury bond yield stands at 2.93%.

 

Wrapping Up The Blog

The shipping backlog is reasonable for a Monday and will not take too long to complete. This will provide time to prepare the first of two CAC submissions for the week.

I will be in the office the entire day and will have the entire Twin Lakes Collection consignment posted to the price list before heading to bed. The Part 2 gallery will be posted to the Blog during the afternoon hours. So far, the order rate for Twin Lakes lots has been strong.

Thanks again for visiting on a daily basis. Be well!

 

 

 

Sunday May 15, 2022

Moving Up The Ladder - New Twin Lakes Collection Offerings - Part 1

and

Update to GFRC Online Auctions Terms & Conditions

 

Greetings on cloudy and wet Sunday morning. Welcome to another Daily Blog edition.

Saturday certainly felt like mid-July as our outdoor thermometer was reading 92F until 3:00 PM. After spending much of the day processing Twin Lakes Collection images, there was a need for exercise. The tall oaks and maples, in the front yard, were swaying to a decent breeze so the high temperature can't be that bad, right? Diane and I went down to the back acreage trails for a walk and opportunity to chat. Once down in the woods, the breeze was gone but the hot temperature remained. After walking for 25 minutes, we decided to head back to the homestead as climbing steep trails in 90 degree heat does highlight physical limitations.

Today is Renee's birthday. Our wonderful daughter turns 35. All is well with Renee, Mike, and Ivy in Austin.

This Blog edition will focus on two topics. First is showcasing a notable Twin Lakes Collection consignment release. Second is an update to the GFRC Online Auctions Terms and Conditions as a result of a bidding event and post auction close manual update. So let's get on with today's ramblings.

 

Moving Up The Ladder - New Twin Lakes Collection Offerings - Part 1

Passionate is probably too weak of a descriptor for the Twin Lakes Collection consignor. Intense is more fitting!

Our close friend continues to aggressively upgrade his PCGS AU58 CAC collection at every opportunity. That collecting style results in noteworthy duplicates being released on a steady basis. The term moving up the ladder certainly applies to the Twin Lakes Collection. Ongoing upgrading results in the collection reaching new heights. The quality of the released duplicates also continues to rise consistent with the overall collection status.

Today brings the first of two Twin Lakes Collection postings. The premium nature of these duplicates is readily apparent at a glance. Sure, a portion are not CAC approved but we have been down that road before in the Daily Blog. If wishing to purchase green bean stickered coins, there is a pricing premium for that decision. Otherwise, a host of quality coins remain available in the marketplace at competitive offer levels. Such is the case with today's Twin Lakes showcase.

As of this morning, offer prices have not been developed and approved by the consignor. This step will take place today. For those who have already sent a pricing inquiry email, those will be responded to on a FIFO basis once offer prices are settled.

In the meantime, please relax and enjoy the newest round of Twin Lake Collection releases. The Part 2 display brings some wonderful U.S. gold for consideration.

 

New Twin Lakes Collection Offerings - Part 1

1812 O-103 PCGS AU58 50C

1828 N-3 Large Date PCGS AU58 1C                                      1831 Sm Letters B-1 PCGS AU58 25C

    

1883 PCGS AU58 50C                                                           1892-CC PCGS AU58 CAC $1

    

       1857 PCGS AU58 CAC 1C               1838 Sm Stars F-101a PCGS MS61 10C       1839 F-106b PCGS AU58 CAC 10C

            

      1899-O PCGS AU58 CAC 25C              1830 Large 0 O-122 PCGS AU58 50C               1833 O-112 PCGS AU58 50C       

            

 

Update to GFRC Online Auctions Terms & Conditions

During the just concluded Eclectic Collection Auction Sale event, it was necessary to conduct a post auction close bidding update resulting from how bidding was conducted in the final minutes of the auction. The lot was the 1871-CC quarter graded NGC F15. Two bids were placed on the lot and executed during the final two minutes of the auction. A $30,500 bid was executed with only 15 seconds left before auction close, but obviously, the first bid was substantially higher resulting in a $33,000 closing price to the winning bidder.

Luckily Matt Yamatin was at the homestead and quickly diagnosed why the online auction display did not capture the final $30,500 bid. Matt promptly corrected the bidding counter in the results file and posted the update within minutes of the auction close.

The issue comes down to a fix closing time for all lots. This fact leads to aggressive bidders moving into a sniping mode that has become business as usual on eBay and other auction platforms. In the case of the Eclectic Collection auction, bidders are opening and staging multiple bidding screens in preparation of executing bids during the final seconds of the auction. At least 20 bids were seen in the final minute of the Eclectic Collection sale.

The practice of opening bidding screens and not prompt executing a bid has exposed a flaw in the software when a targeted lot has no bids but is being pursued by more than one bidder. The software must track each bid to update the bid counter that is displayed online. The opening of a bidding screen is part of the tracking process. The final minute of heavy bidding also slows down the bid processing module including the issuing of bid confirmation emails. I won't go into more technical details today. Luckily, the Yamatin software is robust in capturing the time stamp of each bid, as executed. Each bid and its time stamp are recorded in the specially construction administrative panel that is employed for post auction bidding validation and invoicing. In the past using this admin panel, I have manually cancel bids when an inexperience bidder would place a second maximum bid on top of an existing maximum bid.

As a result of the potential need to correct a winning bid display after the auction close, the following update to the GFRC Online Auctions Terms & Conditions is necessary. There is an expectation that more cases of post auction winning bid updates will take place as auction scope expands. The growth in the number of offered lots and fixed closing time will result in more snipe bidding by those who wish to win a lot during the final seconds of bidding. This bidding behavior cannot be changed by the administrator. Instead, the administrator will validate the winning bidders after the auction closes for highly contested lots.

Please carefully read the following including the final paragraph. GFRC Online Auctions are administered with the highest integrity. It is therefore not necessary to conduct one on one explanation when snipe bidders fail to win a lot and pursue the matter after an auction close. Lots will be awarded to the winning bidder based on the time stamp of the bid execution and not the online display (which lags due to processing volume).

Guidance/Post Auction Administration for Snipe Bidding 
Sniping is a well-established bidding approach whereby a bidder will open a bidding screen prior to the closing time of a lot and wait until the final seconds of an auction to submit a bid.  The sniping practice is becoming more prevalent during GFRC Online Auctions as the platform's offerings and popularity expands. The usage of staged bidding screens by clients is a function of all lots closing at the same time.

The GFRC Online Auctions bid processing software has limitation during the final minute of bidding due to high volume, instantaneous processing requirements, and the practice of opening multiple bid screens with delayed bid submissions.

As a result, bidders agree to and accept the following potential outcomes consistent with their selection of bidding technique.

Due to setup of the GFRC Online Auctions platform, there may be instances were manual correction of the auction database is required either during or immediately following the auction period. Known situations include the following: 

a. A bidder submits a max bid that is higher than their previous bid when they are the current high bidder. As GFRC Online Auctions does not require bidder registration and sign-in, the software treats all bids as unique and will automatically treat this as a new bid against the current high bid. In these instances when GFRC is made aware or observes this occurence, the previous bid will be deleted. 

b. Two unique bidders open the bid page for the same lot before either has submitted a bid AND no other bid has been placed on the lot yet. This situation has the highest chance of occuring during the final minutes of bidding. 

The GFRC Online Auctions platform registers all bids with a submission timestamp and automated email. All auction lots are reviewed and validated following auction close. In the event the review identifies a disrepency, including, but not limited to the two cases identified herein, a correction will be made by GFRC and the winning bid may update after the close of regular auction bidding. The update may result in the final winning bid being lower or higher than the displayed winning bid immediately upon auction close. Winning bidders may request to GFRC a log of all bids and an explaination of the correction made associated with that particular lot.

Bidders agree to the terms that GFRC is not liable for changes in final winning bid that can result from the post auction review and validation process described herein. 

 

Wrapping Up The Blog

Today brings a seasonal spring day with sunshine. My plan is to wrap up the Twin Lakes Collection pricing proposal followed by heading into the back acreage to continue graveling the walking trails during the afternoon hours.

Once the Twin Lakes Collection offer prices, I will respond to your email inquiries. This should take place by end of day.

Thanks again for being part of the GFRC community and visiting the Daily Blog on a consistent basis. Be well.

 

 

 

Saturday May 14, 2022

Johnny2 Progress, But Still Incomplete for Delivery

Town of Raymond Approves Barn Permit

and

Outstanding Consignment Arrives for Next GFRC Online Auctions Event

 

Greetings on a lovely Saturday morning and welcome to more ramblings and updates at the Blog.

What happen to traditional spring time during the month of May? As the office laptop keys are being depressed, it is already 60F on the way to a daytime high of 88 degrees. Trees are still exposing their fresh leaves as the temperatures soar. Of course, such high temperatures are ideal for black fly activity with the little gnats being that much more aggressive for any exposed skin.

Today's weather is worthy of commentary concerning several YouTube global warming videos that were absorbed during our Florida escape. The core message of these videos is that humans prefer to live in regional bands with optimal temperatures and lower risks of violent weather. As the United States warms, a slow human migration will be take place northward which is opposite of the current New York, New Jersey escape to the southern states. One video calculated that the optimum human living band is moving northward by 20' per day. Within several decades the top end of that band will be arriving to northern New England. I'm not sharing this thought to make anyone upset, but rather to stimulate your own research if interested.

By the way, the current Maine population stands at 1.35 million with the majority living in the bottom half of the state's land mass. There is much space for population growth though the current roadway infrastructure will need substantial investment.

Let's move on.

Friday brought another busy day including attempting to debug a non-functioning AV20F grapple for the JD2025R. The top clamshell is not opening though the hydraulics are being pressurized. The great people at Hall Implement are working with me to diagnose the issue without having to trailer the grapple to the John Deere yard. Yesterday brought the removal of four couplers and transport to Hall for a technician to check. While that check was taking place, I had an opportunity to walk into the back portion of their yard. Resting quietly with a Sold red tag is Johnny 2 (JD2038R). Progress has been made with the self leveling 220R loader added to the tractor. Unfortunately, as I learned speaking with the service manager, there are three missing pieces that preclude full assembly to the purchase order requirements. Those pieces are the 220B backhoe, the power beyond kit to connect the backhoe to the tractor's hydraulic system, and finally, the third function hydraulic kit to connect a grapple to the front loader arms. As I was sitting on and admiring the new tractor, one of the Hall workers can over to check on me. Once learning that I was the buyer, he pointed out how lucky I was to have ordered this machine back in November 2021. He reported that Johnny 2 could have been sold at least three times by its presence in the lot. New machines are not available until November or December earliest.

Clicking on the below image will bring access to a higher resolution version for those who wish to see Johnny 2 up close. Though not apparent from a simple image, Johnny 2 is a sizable upgrade with a wider stance and more bulk.

 

Johnny2 Progress, But Still Incomplete for Delivery

 

The Hall Implement visit failed to locate the root cause for the grapple issue. Hall has committed to send their tractor hauling trailer to Raymond to retrieve the grapple for review and repair in their shop. My gut feel in that the cylinder arm, that opens the grapple claw is either slightly bent or has an internal malfunction.

 

Town of Raymond Approves Barn Permit

Friday's Blog edition discussion brought several emails with advice. Bottom line, the message was stay the course with the barn location and find a different contractor if necessary. These emails were thought provoking and welcomed. A discussion with Diane brought the same conclusion.

Mid-afternoon brought a timely email from the Town of Raymond with approval of the building permit. The approved design includes a standard 3' frost wall footer as required by the lumber company and not a simpler floating slab design as proposed by Pete Theberge's cement contractor. We are at the point of needing a new cement contractor to stay compliant with the building permit.

There will be many more updates to this story in the coming weeks...

The balance of the afternoon saw the pricing of the Union Bridge Collection offerings and approval by the consignor. These lots are ready to load to the price list today.

 

Outstanding Consignment Arrives for Next GFRC Online Auctions Event

Late afternoon brought the delivery of an important consignment shipment. The consignor dates back to the 2014-2015 GFRC time frame. As mentioned earlier, this individual is selling his collection for a home down payment.

The consignment totals 60 pieces with all being either Liberty Seated dimes and quarters. Many are CAC approved as purchased while the non-CAC lots have never been submitted. Obviously, my first step is to screen the non-CAC approved pieces towards issuing a prompt shipment to Far Hills NJ on Monday.

The CAC approved coins are wholly original with many better dates in middle to higher circulated grades. I'm certain that these will be popular items when posted on the GFRC Online Auctions catalog. Photography will take place today.

Once again, GFRC is seeking premium lots for its forthcoming June/July auction event. This event will be a multi-consignment affair and populated during the next several weeks as consignments are committed and transported to the Maine office. Please don't be bashful about contacting me if interested in being part of that event.

 

Next in the GFRC Consignment Queue

Image processing of the Twin Lakes Collection has already begun! Yes, the most recent Twin Lakes Collection consignment is up next in the processing queue. This consignment brings a broad array of Capped Bust, Liberty Seated, and U.S. gold type to the price list during the coming week.

So ends today's Blog edition. My attention immediately shifts to the shipping department and the needs to transport shipped lots to the Raymond Post Office before 12:00 noon. Let's remember that regular home mail delivery has stopped on Saturdays due to a lack of staffing.

At least we don't need baby formula....

Thanks again for making the Daily Blog a regular part of your online day. Be well!

 

 

 

 

Friday May 13, 2022

Happy Hour(s) on Sebago Lake

Choice 1870-CC Seated Quarter to Consider

and

Wide Ranging Consignment from the Union Bridge Collection

 

Greetings on a Friday morning and welcome to another Daily Blog edition.

Yes, it is already becoming too dry in southern Maine as the lawns begin to turn green and trees sprout their leaves. Hopefully the forecasted rains for Sunday and Monday will materialize.

Thursday brought another multi-event busy day with some ups and downs. The big downer of the day took place early at the 8:00 AM meeting with Pete Theberge and Dave Wilkinson. Bottom line, the selected spot for the barn is untenable in terms of construction. Bringing cement to the site requires a skid-steer tractor with cement dump cart along with the attic trusses being lifted into place by a crane. A small crane truck weights in a 35 tons or more. A fully loaded cement truck weighs in at 33 tons. Access to the proposed location just will not work.

The alternative is moving the barn to a new and easier to access location in front of the stone wall. Today brings that assessment and discussion with Rick and Sharon as the barn would be placed at spot near that property line, but with the proper setback per town regulations. Afterwards, the permitting process must be restarted.

As the day moved along, the usual shipping and image processing took place. The afternoon hours brought an invitation for a happy hour tour on Sebago Lake with friends. I was able to spend several hours on the JD2025R spreading crushed brick on wet areas of the back acreage trails before heading to Sebago. The happy hour(s) tour was pure joy with great friends and adult beverages before heading back to land. For those who are not familiar with Maine, Sebago is the second largest lake in the state and an incredible natural resource with land locked salmon.

 

Happy Hour(s) on Sebago Lake - Images

Here are two images taken upon returning to shore. The first is that of the western sunset. The second captured Diane with Lynn and Terry on the dock and Steve (our host) tying up his boat. Readers can click on the second image to gain access to a higher resolution version.

 

Choice 1870-CC Seated Quarter to Consider

Thursday brought a decision to take the newly arrived 1870-CC Liberty Seated quarter to the price list. This piece was promptly photographed and images processed with those of the Union Bridge consignment.

This choice example was purchased directly from the collector who won the Eclectic Collection Auction Sale VF30 example. It was offered to me prior to the sale and purchased at the bidder's asking price. Since yet another collection purchase opportunity also appeared on Thursday, securing cash flow has become an imperative. Therefore, I am taking this choice 1870-CC quarter to the price list. Already, there has been one inquiry on the coin.

 

Choice 1870-CC Seated Quarter to Consider

This piece has sold at $16750

1870-CC PCGS VG10

 

Wide Ranging Consignment from the Union Bridge Collection

As promised in yesterday's Blog edition, today brings the newest Union Bridge Collection consignment gallery for your consideration. I am not aware of any of these offerings having been submitted to CAC by the consignor regardless of being long term holdings. Several pieces will be found in new ANACS holders as recently graded.

If all goes to plan, this lot will post to the price list on Saturday. Today's task is pricing the individual items and securing consignor approval of the offer prices.

 

Wide Ranging Consignment from the Union Bridge Collection

1850 PCGS EF40 25C                                                                  1891 PCGS MS63 25C

    

1932 PCGS MS64 G$10                                                                  1904 PCGS MS64 G$20

    

 1828 Lg Date ANACS VF25 1C                    1840-O F-104 PCGS F12 10C                  1841-O F-115 PCGS VF25 10C

            

     1840 ANACS VF30 25C                              1857 ANACS VF35 25C                          1935 ANACS MS65 50C OWH

            

 1885-O PCGS MS63 $1                              1910 PCGS AU55 G$2.5                              1912 PCGS AU55 G$2.5

            

1913 NGC AU55 G$2.5                           1909-D PCGS AU58 G$5

      

 

Global Financial News

The final day of the trading week with the S&P at 3,930, spot gold at $1820, and Bitcoin at $30,454. Pessimism has been on full display during the week's trading with the latest 8.3% CPI report reminding investors that the current inflation bout is insidious and will be with us for some time. Investor hate uncertain and will naturally move equity assets back into cash. The crypto market is a mess with rumors of Coinbase bankruptcy. Could we be facing a Lehman Bros moment in the crypto markets?

Another disturbing reading point is tight diesel fuel supplies on the east coast. Per the Daily Reckoning, it appears that Pilot and Loves are expressing concerns for a potential diesel fuel shortage this coming summer. I'm not making this up. Readers are encouraged to conduct their own online reading on the topic.

On a positive note, U.S. equity markets are seeing some buying optimism per today's morning market futures. However, we have seen this movie before with a surprise announcement that Elon Musk's Twitter buyout is on hold due to the number of fake accounts. Let's hope for an upbeat day in the markets.

In Asia, Japan +2.6%. Hong Kong +2.7%. China +1%. India -0.3%.

In Europe, at midday, London +1.6%. Paris +1.6%. Frankfurt +1.4%.

Futures at 6:20, Dow +0.8%. S&P +1.1%. NASDAQ +1.7%.

WTI crude pricing is moving upward at $108/bbl while the 10 Year U.S. Treasury yield as dropped to 2.9%.

 

Wrapping Up The Blog

Another busy office and back acreage day arrives to keep me out of trouble. I will be responding to email inquiries when possible, therefore I hope for your understanding if my return emails are delayed. There is much on my plate to get done.

Wishing everyone a pleasant Friday the 13th..... Be well.

 

 

 

Thursday May 12, 2022

Key Date Liberty Seated Coinage Arrivals

Union Bridge Collection Consignment Gallery Posting Today

Soliciting Consignments for GFRC Online Auctions June/July Event

and

Planning Site Excavation and Slab Construction for Barn Project

 

 

Greetings once again on a lovely Southern Maine spring morning. Please understand that today's Daily Blog edition will be brief given an important on site barn construction planning meeting at 8:00 AM.

Wednesday brought the final day of shipping Eclectic Collection auction sale lots with nearly all lots on their way to clients. In the past three days, Diane and I have assembled roughly 40 packages and are looking forward to a slower shipping session this morning.

Let's open today's edition with two key date Liberty Seated arrivals that appeared on Tuesday and Wednesday.

 

Key Date Liberty Seated Coinage Arrivals

The past 48 hours brought the arrival of a nicely original 1870-CC PCGS VG10 Liberty Seated quarter and a CAC approved 1878-S Liberty Seated half graded PCGS AG03. Both pieces present important (and relatively affordable) opportunities for collectors with a long standing need to fill in those remaining key date slots in a complete date and mintmark set.

The decision is whether to take these lots directly to the price list or include them in the next GFRC Online Auctions event. That decision has yet to be made.

These arrivals are being shared to illustrate the expanding vertical component of the GFRC business. I hope to continue this trend for Capped Bust, Liberty Seated, and U.S. gold product lines. Your proposals are certainly welcomed. For the U.S. gold product line, I just learned that the Osprey Collection has purchased a nine piece gold lot with one piece being a certified proof. Most are CAC approved.

Handling high value coins is truly rewarding and a re-affirmation that the GFRC platform is capable of servicing a broad range of collector needs.

 

Union Bridge Collection Consignment Gallery Posting Today

The last of the Whitman Baltimore show consignments is in the final stages of image processing and should post as a Blog gallery by end of day.

This lot is a nice mixture of mid circulated grade early type along with AU55/AU58 U.S. gold pieces.

Once the Union Bridge lot reaches the price list, my attention will shift to the Lakeland and Twin Lakes Collection consignments.

 

Soliciting Consignments for GFRC Online Auctions June/July Event

I'm pleased to report that several proposals for the GFRC Online Auctions next auction sale have arrived during the past week with one major lot shipping today and a second planned for next week.

To date, the committed lots will be mostly Liberty Seated dimes including circulation and proof strikes. GFRC will be able to flesh out the auction offerings with its own CAC approved inventory to add some product diversity but more is needed to fully populate a 70-80 lot event.

I am in need of quality Liberty Seated quarters, halves, and dollars along with Capped Bust coinage across all denominations. Dan White is working on the acquisition of a small but most important U.S. gold collection to further expand the auction offerings.

So here comes the solicitation....

Please consider consigning your duplicates or those pieces that are occupying space in a bank box while no longer being a core numismatic holding. GFRC will work with consignors to accomplish shipping (with GFRC insurance) followed by photography and reserve price setting. Your roles are simple.

- First is making that all important decision to divest.

- Second is taking inventory and preparing a shipment invoice.

- Third is approving or modifying the proposed auction reserve prices that will be extended to you.

Otherwise, the GFRC Online Auctions marketing process kicks in with initial publicity in the Daily Blog. Len Augsburger arrives with his authoritative descriptions as the online auction catalog is assembled in real time. Finally, you will be provided with a printable PDF auction catalog for the event as a long term documentation of your coins.

All of the above services are provided at the standard GFRC consignment commission rate in a No Buyer's Fee auction event that collectors enjoy.

If you are already a GFRC client, then the above commentary is already understood. If you are new to GFRC and considering selling a major collection or just a subset, why not give GFRC a test shot to learn of our service levels?

As always, thank-you for the consideration.

 

Planning Site Excavation and Slab Construction for Barn Project

Today's 8:00 barn project planning meeting is a milestone with two of my favorite contractors meeting each other for the first time. Pete Therberge has been at the homestead for two summers working on Diane's remodeling projects. Dave Wilkinson has been the critical element in the back acreage trails construction project.

This morning's meeting is a key planning session for setting the final location for the barn and deciding how the concrete footer and slab will be constructed. Dave Wilkinson will be handling the excavation and site preparations consistent with the type of concrete slab that will be poured. As everyone recognizes, a building's foundation is the key for a long term stable structure. There can be no settling or frost heaves that will crack the slab, or worse, impacting the wood structure itself.

The project brings several challenges.

- First is the sloping grading that must be leveled.

- Second is the substantial amount of rocks and boulders that must be removed along with backfilling with gravel. It goes without saying that the slab must be constructed with sufficient protection against deep frost events during cold winters with little snowfall.

- Third is how in the world will we transport wet concrete (which weighs 4000/lbs per yard) to the construction site given the sharp sloping grade from the road to the back lot. Bringing a cement truck that weighs in at 33 tons is much to risky on such a steep grade and soft soil.

So there you have it concerning the importance of the 8:00 AM and why today's Blog edition is brief.

 

Wrapping Up The Blog

My apology for the lack of a global financial news segment in today's edition. Maybe it is for the best as equity markets are in a deep funk with little positive news to allay investor pessimism.

Let end at this point. Thank-you for checking in. Be well!

 

 

 

Wednesday May 11, 2022

"....and somebody else will."

and

Restarting GFRC Price List Posting after Eclectic Collection Auction Sale

 

 

Greetings on a wonderful Wednesday morning and welcome to the Daily Blog. I hope you enjoy today's visit.

The 6:00 AM view out the office window is comforting as the flowing plums have turned a crimson red. Ever slowly, Maine foliage is starting to appear though lagging well behind southern New England locations. How I enjoy being home rather than sitting in the Venice condo office....

As expected, yesterday's CAC commentary brought response emails. The common theme was that collectors assumed that if a coin was not approved once at CAC, that was it, end of story. Personal observations and multiple conversations with close collector friends and clients have dismissed that piece of "general knowledge". Act accordingly....

Diane and I are in the final day of recovering from the Eclectic Collection Auction Sale shipping workload. We hustled on Tuesday morning with 14 packages being dropped off at the Gray Post Office as we were on our way to Portland for simultaneous teeth cleaning appointments. Today brings the final day of Eclectic shipments with most being Quick Ships. Do you know of another auction house that provides Quick Ship service to its bidders?

As a sign of the times, it has been confirmed with Doug the Mailman that the Raymond Post Office lacks staffing to the point that if he is out, there will be no mail delivery. Doug works Monday through Friday which means that payments checks will not be delivered on Saturday. The Postmaster is contracting with an agency to enable package delivery service on Saturdays but no regular mail delivery. As a result, the responsibility falls on GFRC to drive into Raymond to secure our usually delivered mail to enable regular Monday shipments.

Let's open today's Blog content with a piece by Seth Godin. The concept is not selling out on standards which is how GFRC is operated. There is always straight talk whether with Blog musings or coin descriptions. My role, on behalf of the community, is to screen out the problematic coins and not allowing those to reach the price list. Just last week, I identified a consigned Civil War era proof Seated dime in a business strike TPG holder. The pricing gap is huge. The easy route would be to place the coin on the price list and use the TPG certification as cover as was done by the dealer who sold the coin to our client. Instead, the coin is heading to the certifying TPG to be corrected with corresponding financial compensation. Stay tuned as that story develops with the TPG....

Seth Godin Blogpost - "....and someone else will."

This is a great excuse for racing to the bottom.

Corporations with power go ahead and take advantage of customers. “Well, if we don’t do it, a competitor will.”

The public markets don’t require companies to throw out their principles to succeed. In fact, they reward companies that do the opposite.

People exploit vulnerabilities in systems, or cut a little close to one edge or another. Because, after all, it’s a competitive world, and if they don’t, someone else will.

Not really.

Human culture has a long history of standards being set by people who refuse this line of reasoning. And as a result of these standards, somebody else doesn’t.

 

Restarting GFRC Price List Posting after Eclectic Collection Auction Sale

I was up at 4:30 AM with the goal of processing images towards restarting regular price list postings. The balance of the Baltimore show Southern Texas consignment and four Liberty Seated dimes, from the Massachusetts Collection, will be posted today.

Next in the consignment queue are lots from the Union Bridge Collection, Lakeland Collection, and now the Twin Lakes Collection along with a double row+ slabbed box with remaining new purchases. There is sufficient backlog to keep me busy through the arrival of Summer Baltimore show. That show opens on June 9 which is less than a month away. Dan White, Gerry, and Jim Matthews will be staffing our double corner table presence at the show.

For the sake of expediency, I've not assembled a consignor gallery for today's Blog. The new postings will go directly to the price list. Please check back by end of day for nice circulated grade Liberty Seated dime and halves.

 

Global Financial News

Tuesday's equity market trading started with a brief relief rally that fizzled out. Market indices went negative before closing the day essentially flat.

Spot gold prices are feeling the effects of a sky high U.S. dollar and rising interest rates. Tuesday's trading saw the precious metal dipping to $1833 before a rapid recovery to $1860 as the Blog is being composed. Am I worried about gold prices? No, as yesterday's dip was a buying opportunity for those who managed to see and act upon the drop.

Following is the 5 year Kitco technical chart which illustrates gold recent drop to the 200 Day Moving Average line (green). My expectation is that pricing will bounce off that line and return to a higher number to sustain the current bullish trend. There is just too much uncertainty in the world for gold to suffer a breakdown. We must remember that the DXY U.S. dollar index stands at 103.6 which is the highest the dollar has been since the post 2000 NASDAQ tech crash. Gold, as priced in historically high U.S. dollars, is holding up well.

 

GFRC's gold price list sales are languishing as a result of the drop in spot prices. This is to be expected as human psychology is what it is. Few believe in buying a commodity during a downturn. Rather, most collectors and investors wish to play an upward trend.

Seeking Alpha has published their Morning Market futures and time to share some optimism. European markets are trending upward along with U.S. markets set to open with a strong upward bias.

In Asia, Japan +0.2%. Hong Kong +1%. China +0.8%. India -0.5%.
In Europe, at midday, London +1.1%. Paris +1.8%. Frankfurt +1.1%.
Futures at 6:20, Dow +0.9%. S&P +1.1%. Nasdaq +1.3%.

We find WTI crude at $103/bbl and Bitcon at $31,760. The 10 Year U.S. Treasury bond yield has dropped to 2.95%.

 

Wrapping Up The Blog

This afternoon brings time in the back acreage with Kevin. While I am cutting down several more trees for the barn construction project, Kevin will be sawing existing log piles for loading onto his trailer. I could not be more pleased to have help with cleaning up downed wood and beautifying the area immediately behind the settler's agricultural stone wall.

Otherwise, the office portion of the day brings more shipping and price list postings. If interested in a potential purchase, please email, text or call. I will respond to those inquiries starting at 5:00 PM on a FIFO basis,

Thursday morning's Blog edition will be brief as I have an 8:00 AM meeting with Pete Theberge and Dave Wilkinson to plan out the barn construction site excavation.

Thank-you for checking in at the Blog. Be well!

 

 

 

Tuesday May 10, 2022

Next GFRC Online Auctions Sale - Multi-Consignor Event

and

CAC Approval Variability?

 

 

Greetings on another beautiful southern Maine morning. Thank-you for visiting the GFRC website on a regular basis.

Yes, spring has arrived to southern Maine as a warming trend is upon us. At 6:30 AM, the outdoor temperature is a comfortable 43F with bright clear skies. Today's high will be approaching 70 degrees and increasing daily to 84F by Saturday.

Monday afternoon brought the first lawn mowing of the 2022 season along with applying fertilizer on the newly seeded (2020-2021) backyard lawn. As a treat to myself, the outdoor day wrapped up with one and half hours on the JD2025R. More crushed brick and stone was applied to a particularly wet area of the northern back acreage trail. When looking at the trail section, the reason for the wetness is readily apparent. The trail has been dug shallower than the adjacent sides with no where for the water to exit. Instead, it pools at a subsurface level. The next 48 hours will see the digging of a small drainage channel filled with 1.5" stone to allow an exist path for the downhill flowing water. This is not rocket science and easily done with a tractor and backhoe.

Overnight orders for the unsold Eclectic Collection auction lots appeared now that the coins are posted to the 30 Day Price List and Collectors Corner. This is excellent news with the GFRC business currently operating at record levels.

Monday also brought the arrival of a quality consignment from the Twin Lakes Collection. As usual, Twin Lakes consignments are predominately graded PCGS AU58 with 25% being CAC approved. The lot contains mostly early copper, Liberty Seated dimes along with Capped Bust and Liberty Seated halves. The photography will take place tomorrow.

 

Next GFRC Online Auctions Sale - Multi-Consignor Event

As of Monday, I've been unable to locate a large anchor collection for the next GFRC Online Auctions event. However, consignment proposal continue to arrive as was the case yesterday. An early GFRC consignor has decided to sell his Liberty Seated coinage collection to help with a house down payment. The collection is a mixture of dates and grades with a portion being ideal as an auction component.

Therefore, let's make it official and start the planning process accordingly. The June/July auction sale will be a multi-consignor event with a planned size of 70-80 lots. As of today's consignment commitments, 1/3 of the lots are known to me. The balance are being solicited.

If you wish to be part of the June/July GFRC Online Auctions sale, please contact me with your proposed lots. Priority will be given to higher value and premium early type coins. For efficiency, I would like to keep the minimum consignment size to five coins.

Thank-you in advance for considering this opportunity.

 

CAC Approval Variability?

I believe the time has come to discuss the topic of CAC approval variability based on several conversations with clients and my own submission experiences.

Several clients have expressed frustrations concerning higher value better dates being submitted to CAC and not approved followed by selling those pieces only to see the same coin CAC approved for the buyer. This begs the question on the CAC operating standards as many among us believed that if a submitted coin is not approved, the non-approval decision is entered into a CAC database. Some believe that CAC then uses this information to pre-screen new submissions towards removing those coins from review if previously seen and non-approved.

All evidence that I have accumulated suggests that this is not the case. Previously unapproved coins are being approved on subsequent attempts. The percentage is low as borderline coins are the issue. My theory is that as CAC expands its reviewing staff, the fact that multiple individuals are inspecting and approving coins brings differing opinions. A choice borderline coin that was rejected by one staff member might be approved by another CAC reviewer. Like TPG grading, CAC review has a subjectivity component. As grading or review staffing changes, the probability for differing opinions is a constant challenge to manage.

Bottom line, if you believe one of your prized coins is conservatively graded plus having choice original surfaces and eye appeal but does not win a CAC green bean on the first attempt, I would not fret. Selling the coin is the incorrect decision. Please remember that we are collecting coins and not TPG labels or CAC beans. Each collector sees a coin from their perspective. That perspective is a function of grading experience and the understanding of metallurgy and the many ways that coins can be "enhanced" for a higher TPG grade. CAC plays an excellent role for screening coins that have seen post mint treatments along with ensuring that the grading is conservative. However, eye appeal and the level of surface abrasions are a different story. What might be acceptable to one CAC reviewer might not be for another. Please keep this in mind when your prized key date does not sticker. Secure a second opinion from a trusted collector friend or dealer with the physical coin in hand for discussion. I would NOT advise posting images of a non-approved coin on a message board and asking for an explanation as to why the coin did not sticker. Photography brings more variability and is unable to capture natural luster, as an example.

Moving forward, I will continue to re-submit those coins that I believe are near-gems at grade along with being economically viable for holding back for a second attempt. As a dealer, holding back expensive coins runs counter to a business model predicated on moving volume. Is it worth the time and lost cash flow to hold back coins to ensure they secure a green bean? In many cases, the conclusion is negative but for some better dates, that decision may be worthwhile. Collectors are in a different position with longer term horizons.

I'm certain that this Blog post will stimulate discussion and response emails. I'm not in a position to have one-on-one discussion via email given current workload. Today's musing was to acknowledge the fact that certain collectors are selling premium coins since not being approved at CAC. If your cherish coins does not sticker on the first attempt, it is still a cherished coin. The non-approval is just the opinion of one reviewer....... Just my 10c.

 

Global Financial News

As expected, U.S. equity markets took it on the chin during Monday trading. The S&P is approaching correction territory at 3,991 after peaking at roughly 4,800 last year. The NASDAQ has already broken down into an important correction. Investor sentiment along with that of the mainstream financial media is also sour.

On a personal basis, my largest fear for a surprise geopolitical event has abated and feeling more comfortable with the state of equities at current levels. The fact that Putin was subdued at his May 9 speech brings relief that usage of tactical nuclear weapons is essentially nothing but rhetoric and bluster. I also don't believe that Xi JinPing will make an overt move on Taiwan during 2022 after seeing his colleague having a dismal time in the Ukraine and western unity. The Russian exit of multi-national corporations along with widespread sanctions are a learning for the Chinese Communist Party.

Morning market futures are pointing to a relief rally at the opening bell.

In Asia, Japan -0.6%. Hong Kong -1.8%. China +1.1%. India -0.2%.
In Europe, at midday, London +0.6%. Paris +0.8%. Frankfurt +1.2%.
Futures at 6:20, Dow +0.9%. S&P +1%. NASDAQ +1.6%.

Even the commodity space had a bad day on Monday with WTI crude trading down to $102/bbl and gold spot pricing at $1860/oz. Bitcoin temporarily traded below the $30,000 mark before recovering to $31,390.

The 10 Year U.S. Treasury yield is back to 3.0%.

 

Wrapping Up The Blog

Today's top priority is more Eclectic Collection Auction Sale shipping as we need to clear out these coins from the office along with ongoing orders. New consignments are arriving constantly.

Thank-you for visiting the Daily Blog. Be well!

 

 

 

 

Monday May 9, 2022

Do You Really Expect Me to Eat All These Chocolate Covered Strawberries?

and

Issuing Remaining Invoices for the Eclectic Collection Auction Sale

 

Greetings on a beautiful southern Maine Monday morning and welcome to the Daily Blog.

Another day starts early in the GFRC office with a scenic view of the front landscaping. Signs of spring are finally coming to southern Maine with the mighty oaks and maples beginning to prepare their leaves for another summer season. The early blooming forsythias are bright yellow and provide some contrasting color to the mostly evergreen plantings.

Mother's Day 2022 was a truly special day regardless of spending from 5:00 AM through 2:00 PM conducting Eclectic Collection Auction Sale closing administrative work. Winning bids were first loaded into the COIN system followed by generating a host of invoices and corresponding emails to winning bidders. As of this morning, there are still more invoices to prepare along with email notifications to get done. Next will be moving the unsold lots to the 30 Day Price List and Collectors Corner. Then there are early shipment preparations....

The special part of Mother's Day was time with family on Saturday evening and one on one time with Matt during the to/from drives between Boston and Raymond. There was much to catch-up with concerns for safe passage of Chikae and Natsumi from Shanghai back to the States. There are no longer international flights from/to Beijing. Accessing mainland China can only be accomplished via Shanghai and government quarantine facilities. The key question for Matt's family is that of available inbound flights to provide an aircraft for an outgoing flight come June 24.

During the 2+ hour drive to back to Boston, we had a chance to strategize a 2023 solar power installation at the homestead. Matt's expertise is renewal energy and sustainability at the large corporation level. Having Matt as a personal consultant for shifting the homestead to off grid solar power will be exciting. We are discussing a system between 4KW-6KW generation along with batteries, inverter, and solar panel placement. There are a host of factors to consider including tax credits, long term power cost increases, and property value enhancement as the shift to solar is underway.

This week also brings a kick-off meeting with Pete Theberge and Dave Wilkinson to go over site preparations for the barn construction project. We are targeting Thursday morning early which means a very short Blog edition that day.

The back acreage trails have dried to the point that Matt was able to run the course for a 3 miles workout on Sunday along with Diane also starting to walk the trails. Another major project vision is becoming reality. Upon seeing the JD2025R in person, Matt commented that the tractor appeared much larger in Blog images versus the reality of being next to the machine. He agreed that the current tractor is undersized for the overall challenges brought by the Ledge Hill Trails project.

Here is a snapshot of Matt on Saturday evening as the family hung around the kitchen center counter and caught up after being apart for three years.

 

Do You Really Expect Me to Eat All These Chocolate Covered Strawberries?

 

Issuing Remaining Invoices for the Eclectic Collection Auction Sale

Auction invoicing continued this morning before shifting to Blog composition with seven more invoices to finalize this portion of the auction closing activities. If you are a winning bidder and has yet to receive a payment invoice, these will be forthcoming shortly in the next few hours.

Following is a image of the staged shipping boxes to validate the enormity of the post auction tasks. Again, seven more boxes will be added to this staged group. Morning shipping priority will be given to regular orders that were paid for this past weekend.

 

 

Global Financial News

Extreme pessimism is on full display this morning. As an investor, there are times when it is difficult to stay the course as the negativity can be overwhelming. Following is this morning's opening Seeking Alpha article. If this article does not panic investors into selling, their pulse may need to checked.

Stocks only go up... until they go down. The so-called everything bubble, or the superbubble, is up against forces that are challenging the investing landscape, with the Fed pivoting on its "transitory" inflation stance last November. The shift commenced a monetary policy tightening cycle to combat price pressures, but it has continued to weigh on equities, along with a stronger dollar that is hitting earnings. Many have also warned that other industries and sectors have far exceeded fundamental value by a large margin, propped up by the Federal Reserve and the once-strong army of day traders that surfaced during the onset of the coronavirus pandemic.

Commentary: "Today in the U.S. we are in the fourth superbubble of the last hundred years," wrote famed fund manager Jeremy Grantham back in January. "Even more dangerously for all of us, the equity bubble, which last year was already accompanied by extremely low interest rates and high bond prices, has now been joined by a bubble in housing and an incipient bubble in commodities. What is new this time, and only comparable to Japan in the 1980s, is the extraordinary danger of adding several bubbles together, as we see today with three and a half major asset classes bubbling simultaneously for the first time in history."

A major selloff has plagued the Dow and S&P 500, while the tech-heavy NASDAQ has been in a bear market since March, with nearly half of the index's constituents off more than 50% below their 52-week highs. Riskier crypto markets have also taken a hit and elevated commodity prices remain subject to supply chain problems, as well as volatile supply and demand. Meanwhile, purchases of ETFs in April fell to their lowest level since the depths of the COVID crisis as inflows from institutional money and retail investors dried up.

Morning market futures are forecasting more U.S. equity losses as trading opens at 9:30 AM. My perspective? I'm staying the course and not panicking given a portfolio that is well balance with energy, gold and cash.

In Asia, Japan -2.5%. Hong Kong closed. China +0.1%. India -0.7%.

In Europe, at midday, London -1.7%. Paris -1.9%. Frankfurt -1.5%.

Futures at 6:20, Dow -1.4%. S&P -1.7%. NASDAQ -2%.

We find WTI crude at $108/bbl this morning along with spot gold at $1862/oz. Bitcoin has dropped to $33,332 which corresponds to the extreme pessimism in today's Seeking Alpha musings. Bitcoin is a the investment vehicle of choice for the young crowd while gold and energy are relics of the older generation. So far, the older relics are in a better position.

The 10 Year U.S. Treasury bond yield as climbed to 3.19%.

 

Wrapping Up The Blog

Now that the Daily Blog is done, I'm off to the shower followed by completing the last of those seven Eclectic Collection Auction Sale invoices. We will ship as many boxes as possible given Diane has an appointment in Portland at 12:30 PM.

Thanks again for bring regular Daily Blog readers. Be well.

 

 

 

 

Sunday May 8, 2022

Eclectic Collection Auction Sale - A Dramatic Finale!

and

Happy Mother's Day 2022

 

 

Greetings on Mother's Day 2022 and welcome to the Daily Blog. Our numismatic community continues to expand based on the events during the last 24 hours.

It is another cool start to a spring day here in southern Maine. Partly cloudy conditions prevail with a 6:30 AM temperature reading of 36F. Today's high is only forecasted at 55 degrees, but a warming trend will appear during the coming week. It will be a quiet week weather wise, which translate into time on the JD2025R and more tree clearing at the barn construction site.

Last evening's Eclectic Collection Auction Sale closing minutes was dramatic and electrifying. Bidding began in full earnest at about 8:00 PM (as predicted) and reach a crescendo during the last 5 minutes. Thirty-three bids were recorded during the final three minutes with one bidder placing his unsuccessful with four seconds left in the auction. The eBay-like sniping behaviors were on full display with some individuals opening multiple bidding screens and only hitting the submit button seconds before the auction close. Matt Yamatin's software performed well with only a single new limitation discovered due to this sniping bidding approach. Bid confirmation emails continues to arrive to my Inbox until past 10:00 PM as the server struggled to process the wave of last minute bids.

 

Eclectic Collection Auction Sale - A Dramatic Finale!

As your auctioneer, there is a sense of relief once another GFRC Online Auctions sales event wraps up. Several months of preparations come down to the final three minutes of bidding. Preparing an auction of this size requires extensive photography, die variety attributions, and description generation.

Once all bids were tallied, the Eclectic Collection Auction Sale saw 54 lots being taken home by our community members. That is a strong 59% sell through rate considering that the higher priced Oregon Beaver Liberty Seated halves mostly languished in this sale. If calculating only the Eclectic Collection Liberty Seated quarters lots, the sell through rate was 62% with some lower priced duplicates holding back that number.

Overall auction sale bidding results totaled a strong $147,400 which is 54% of the initial reserves. The highest priced lot to sell last evening was the 1871-CC NGC F15 Liberty Seated quarter which realized $33,000 followed by the Palos Verdes Collection 1870-CC PCGS VF30 quarter at $22,000.

 

1871-CC NGC F15 25c - Realized $33,000 vs. PCGS Guide $27,500

 

There were intense bidding battles for eye appealing Green CAC approved coins throughout the sale. Leading the pack is the 1843 PCGS AU55 CAC Lightning Bolt quarter which realized $2251 along with some other noteworthy performers.

 

1843 PCGS AU55 CAC 25c - Realized $2251 vs. CAC Guide $508

 

1855 Arrows PCGS MS64 CAC 10c - Realized $1958 vs. CAC Guide $1101

 

1860 II/I PCGS AU55 CAC 25c - Realized $1200 vs. CAC Guide $351

 

1868 PCGS VFF30 CAC 25c - Realized $1468 vs. CAC Guide $718

The Eclectic Collection Auction Sale brought a host of Gold CAC approved Liberty Seated quarters that also enjoyed strong demand and bidding. Following is a summary of those lots that sold.

Eclectic Collection - Gold CAC Approved Seated Quarter Results

1840-O Drap PCGS AU55 Gold CAC 25c - $3276                            1849 PCGS EF45 Gold CAC 25C - $1150   

    

 1853 A&R PCGS AU58 Gold CAC 25C - $2267                           1891 PCGS AU55 Gold CAC 25C - $653      

    

 

On a most positive note is the observation that bidders are learning how to use the GFRC Online Auctions software application and its bid centric design. I'm pleased to report that not a single final bid required adjustment due to be placed on top of a prior maximum bid.

A sincere thank-you goes out to the scores of bidders who participated in this sale. I hope that the bidding process was fun regardless of being on the winning or under-bidder side of the equations.

 

GFRC Online Auctions Seeks a Major Collection for Next June/July Event

Now that the Eclectic Collection sale is completed, the hunt for lots of the next GFRC Online Auctions event begin. Business life is a continuum, isn't it? GFRC is searching for a major collection or will kit together several larger consignments towards its upcoming June/July time frame auction event. Please contact me if interested in being a participant.

 

Wrapping Up The Blog

Happy Mother's Day 2022 to Diane, Chikae and Renee as we honor the unquestionably critical role that mothers play in family life and for society as a whole.

Today brings another long office day along with a five hour to/from Boston drive to bring Matt back to his Coolidge Corner AirBnB. The morning hours will see me in the office working on invoice generation up until the afternoon hours prior to leaving for Boston. All efforts will be made to have invoicing completed by end of day, but this is uncertain. Once invoicing is fully completed, the unsold lots will be moved to the 30 Day Price List and onto Collectors Corner.

Thank-you for stopping by at the Daily Blog. Be well!

 

 

 

 

Saturday May 7, 2022

Eclectic Collection Auction Sale - The Bidding Finale is This Evening!

and

Awesome Wisconsin Gold Collection Offerings

 

 

Greetings on a cool but sunny southern Maine Saturday morning and welcome to the Daily Blog. I'm pleased that you could check in on today's ramblings.

The important personal news of the day is that Matt Yamatin is home for Mother's Day weekend. His personal chauffeur drove the MDX into Boston during Friday rush hour to secure his presence. The ride was uneventful as the TMO office is directly off I-95. After the pick-up (including his bike transport mode), we headed down Beacon Street towards Boston center and arrived at Coolidge Corner where Matt is staying at an AirBnB. With the bike stored away and weekend clothes, the drive took us to Storrow Drive and up along Route 1 to I-95. The one on one time with Matt was priceless as I learned the details of his current TMO role. It has been at least three years since Matt visited the Maine homestead. Diane gave Matt a choice of selecting either of the two remodeled bedrooms. Of course, he selected "his" bedroom which harbored so many memories.

Today brings family time though I will be in and out of the office throughout the day. The main event, the closing of the Eclectic Collection Auction Sale, will take place with or without my presence in the office.

 

Eclectic Collection Auction Sale - The Bidding Finale is Today!

Yes, the Eclectic Collection Auction Sale grand finale arrives at 8:00 PM ET with expectations for rigorous bidding to close out this superb event.

Friday's bidding tempo accelerated as expected with several high four figure lots securing bids along with incremental interest throughout the 92 lot offerings. As of the Blog composition, 38 lots (41%) have secured their reserves totaling $73,674 (27%) in high bids. These numbers are a substantial increase over those at the end of the contemplation period. I'm confident that yesterday's forecast for at least $110,000 in total sales will be met by 9:00 PM this evening. Friday's bidding was just a preview of what is to come today, therefore please be prepared.

I'm not surprised that this gorgeous 1843 PCGS AU55 CAC quarter is leading the bid total with a current high bid of $1425. This piece was my second choice for the GFRC Online Auction banner plate coin. The reason should be obvious.

 

All Gold CAC approved Eclectic Collection Seated quarters have met reserve except for the finest known 1840 With Drapery graded PCGS MS63 Gold CAC. Yes, I am fully aware that the reserve price is substantial. However, finest known coins come with a high price tag. Hopefully, someone in the GFRC community will be feel compelled to take this gem home.

 

There are still a host of fantastic lots that remaining unattached but deserve at least the reserve bid as fair value. How often does Liberty Seated coinage at this quality level come to market without a buyer's premium? Let's call this group of eight pieces as Missing in Action.... Hopefully, these will all be heading into advanced collections come this evening. If not, all unsold lots will be posted to the 30 Day Price List and Collectors Corner on Sunday.

Eclectic Collection - Missing in Action Lots - Please Consider

1848 PCGS AU55 CAC 25C                                                       1856 PCGS MS65 CAC 25C

    

1859 II/II PCGS MS64+ 25C                                                         1868 PCGS MS63 25C   

    

      1871-CC NGC F15 25C                                                     1876-CC PCGS MS66 CAC 25C

    

1877-CC PCGS MS65 CAC 25C                                                 1889 PCGS MS66 CAC 25C   

    

 

Let's not forget that the Eclectic Collection Auction Sale also features some outstanding Liberty Seated halves for your consideration. The Oregon Beaver Collection is slowly divesting his holdings and would enjoy seeing a few of these gem heading into new advanced collections.

Oregon Beaver Collection - Compelling Seated Half Dollar Lots

1840 WB-1 PCGS MS65 CAC 50C                                               1851-O WB-4 NGC MS64 50C     

    

1873-CC Arrows WB-8 R7 NGC AU58 CAC 50C                                   1881 NGC MS65+ CAC 50C                  

    

 

Please check back on Sunday morning for an Eclectic Collection Auction Sale wrap-up and learn which of the these magnificent offerings found new homes. How I would love to be guilty of forecasting only $110,000 in total auction sales when $275,000 in lot reserves are being offered. The next twelve hours will be so telling.....

 

Awesome Wisconsin Gold Collection Offerings

In between the Matt Yamatin Boston pick-up and other home duties, time was found to prepare a superb U.S. gold image gallery for the newest Wisconsin Gold Collection consignment. This is yet another GFRC consignor that is moving up the ladder with a collection divestment. This twelve piece offering is nearly all CAC approved with a host of eye appealing lots. The U.S. gold collectors in the GFRC community are invited to ponder this superb pieces and click on the images for higher resolution version.

Yes, as the photographer and cataloger, I do have my favorite pieces in this display. Let's start with the 1915 PCGS MS64 CAC G$2.5 that will garner a gem quality rating. The eye appeal is downright exceptional. All four $20 pieces are unquestionably premium offerings at their certified grades.

I hope to have this entire lot posted to the 30 Day Price List by end of day. Please don't hold me to that goal but will do my best to make it happen.

 

Awesome Wisconsin Gold Collection Offerings

1915 PCGS MS64 CAC G$2.5                                                1893-O PCGS MS62 CAC G$10  

    

1890-CC NGC AU55 CAC G$20                                              1897-S PCGS MS64 CAC G$20  

    

1904 PCGS MS64+ CAC G$20                                                1925 PCGS MS65+ CAC G$20

    

1927 PCGS MS64+ CAC G$2.5                 1928 PCGS MS64+ CAC G$2.5                    1893 PCGS MS63 CAC G$5  

            

1901-S PCGS MS64 G$5                         1882 NGC MS63 CAC G$10                        1906-S PCGS MS62 G$10

            

 

Wrapping Up The Blog

A long and important Daily Blog edition comes to a close. Your ongoing visits are truly appreciated.

Good luck to everyone in the Liberty Seated coinage community that will bidding come 8:00 PM this evening. I have a feeling that the final hour of the Eclectic Collection Auction Sale will be electrifying!

Be well!

 

 

 

Friday May 6, 2022

Barn Construction Schedule Starting to Coalesce

and

Eclectic Collection Auction Sale - Final Bidding Days Arrive

 

Greetings on wild and busy early Friday morning and welcome to another Blog edition. Your visits are most appreciated.

I thought that one would slow down life's activities as when getting older, but the situation is the exact opposite. Blog composition is starting at 7:00 AM as I've already been on the phone with Pete Therberge and texting with Dave Wilkinson on the forthcoming barn project. While not busy with my contractors, the Osprey Collection gold pieces were loaded to the price list and are worthy of a visit to the 30 Day Price List.

Today also brings a late afternoon drive to Needham MA to retrieve Matt Yamatin for a homestead visit for Mother's Day weekend.

Finally, another awesome consignment from the Twin Lakes Collection is due to arrive today!

 

Homestead Barn Construction Schedule Starting to Coalesce

When tackling a major project, there is always initial planning followed by a second stage of serious planning that is executable. The latter took place early this morning while on the phone with Pete Therberge. Pete has landed a new contract with LL Bean in Freeport and is busier than ever. As a result, the early summer barn construction has slipped to July. This is fine by me and takes some pressure on the need to have the site preparation work done immediately.

Thursday brought the burning of the brush pile followed by cutting up half of the large pine tree that is directly behind the barn site. Dropping the second trunk of that pine tree will be challenging as there is another large pine tree directly behind it that must be cut down first. Dave Wilkinson also arrived with two more loads of crushed brick and stone for the back trail project.

Back to the homestead barn construction schedule, we are looking at end of May for site preparation and digging out the base under the proposed 6" slab. June brings the slab pouring with one huge issue. How do we get a cement down to the barn site? My narrow stone pathway works fine for the tractor and Wilkinson's 6 yard dump truck but not for a fully loaded cement truck. The risk of sinking a cement truck along the leach field is substantial with an alternate solution requiring investigation.

Early July (after the Summer FUN show) is target for the barn construction followed by roofing and siding. if all goes according to the latest plan, the barn will be ready for Johnny 2 storage by mid to late August.

 

Eclectic Collection Auction Sale - Final Bidding Days Arrive!

How I enjoy seeing each GFRC Online Auctions contemplation period being wrapping up. As of this morning, the Eclectic Collection Auction Sale event stands at 31 lots (34%) meeting reserves with a total bid amount of $47,409 (17%). These early Friday morning statistic illustrate that bidding has been active for lots priced under four figures while most of the four and five figure lots are still unattached, at least for the time being....

Since I'm pressed for time this morning, there will not be another display of auction lots to illustrate the premium nature of this auction event. By now, everyone in the community is well aware of the importance of these offering for passionate Liberty Seated coinage collectors.

I'm going on on a limb and forecasting that the auction will yield $110,000 in closing bid on Saturday evening. This is based on knowledge of certain bidders holding back along with other new clients who have shown an interest in becoming active in the auction. Hopefully, there will be bidding action today leading to a robust finale on Friday.

 

Global Financial News

Equity markets saw a substantial reversal on Thursday with the S&P dropping 3.7% to 4146. The NASDAQ was the worse performer with a drop to 12,317. Market optimism continues to evaporate as headline after headline continues to roil investing sentiment.  Investors are dealing with bad news on a host of fronts including high inflation, high oil prices, a protracted war in Eastern Europe and too many mentions of the "N" word, Covid induced supply chain issues from China, and a Federal Reserve that has announced quantitative tightening. Thursday market drop was precipitated by weak earnings by online sellers which should not be surprising as the United States re-opens after two years of stay at home Covid driven life styles.

Morning market futures are forecasting more negativity once trading opens at 9:30 AM but a relief rally might appear. Though we are experiencing extreme market volatility, the current numbers are not new indices lows for the year. Hopefully today's jobs report will be benign and not igniting another sell-off.

In Asia, Japan +0.7%. Hong Kong -3.8%. China -2.2%. India -1.6%.
In Europe, at midday, London -0.7%. Paris -1.1%. Frankfurt +1%.
Futures at 6:20, Dow -0.4%. S&P -0.5%. NASDAQ -0.6%.

WTI crude oil pricing has also become volatile with OPEC not attempting to increase supply. We start the day with a quote of $111/bbl.

Spot gold is also bouncing around with another attempt to break above the $1900 level that failed. The morning quote is $1883/oz. Bitcoin is not immune to the turbulence and has dropped to $36,072.

We find the 10 Year U.S. Treasury yield at 3.08% this morning. The cost of borrowing will be climbing.

 

Wrapping Up The Blog

Today brings an office day with image processing being of utmost importance. I'm buried with new consignments and photographed coins. Now the emphasis must shift to wholesale image processing to enable large gallery displays in the Blog.

There is little else to report at this point, therefore let's wrap up here to enable a quick shower and morning shipping. Afterwards, I will be processing images as quickly as possible before heading to Needham.

Thanks again for stopping by at the Blog. Be well.

 

 

 

Thursday May 5, 2022

Barn Site Preparations - Burning the Brush Pile

Time for Some Osprey Collection Gold

and

Eclectic Collection Auction Sale Bidding Update

 

Greetings on an early Thursday morning and welcome to yet another Daily Blog edition.

As the top headline indicates, today's primary activity will be barn site brush burning followed by clearing more adjacent trees. Wednesday's day long rain has left the landscape wet which is ideal for torching the brush pile during the early morning hours. Kevin will be arriving at 9:15 AM to aid with the burning process. Winds are forecasted to be from the NNW and average 9-10mph which is typical for the top of Ledge Hill. Key is getting through the initial blaze while the ground remains wet. Once the blaze is reduced to hot coals, we are back to log and tree cutting for the balance of the day. It goes without saying that today will not be a GFRC office day.

Of course, the burning event is predicated on securing a burning permit once this Blog edition is published.

It has been some time since featuring a Seth Godin blogpost in the Daily Blog. His Wednesday post is a fitting description for how the GFRC business is managed along with finding time to balance the coin biz with special personal projects. The term "walk away" in the highlighted section refers to events like today where walking away from a GFRC business day to work in the back 20 brings a huge amount of satisfaction.

Seth Godin Blogpost - Full out

It’s thrilling.

Nothing held in reserve. All in, leaving nothing behind.

It’s easy to get hooked on this.

And it’s easy to never experience it.

The internet has made each path more attractive.

It can put us into always-on mode, in a worldwide competition against infinite competitors and inputs in which the goal always seems within reach and also never arrives.

But it can also lull us into a stupor of clicks, likes, home deliveries and spectatorship.

Neither is ultimately productive or healthy.

The opportunity is in finding places that are finite enough for your full-court press to matter, and then, after you’ve shipped the work, to walk away. Not in defeat, but with the satisfaction that you produced something of value.

We didn’t evolve for a life of all-in or one of hibernation. It’s the transitions and the variations that contribute to our health, well-being and ability to contribute.

 

Time for Some Osprey Collection Gold

The GFRC U.S. gold price list contains 89 offerings as of this morning. Maintaining that price list at the 100+ coin mark is proving to be most challenging due to steady demand. Larger dealers often see our U.S. gold listings on Collectors Corner and will attempt to secure the better CAC approved pieces with discounts. Unfortunately for them, I'm holding steady on offer prices as replacing inventory has become more and more challenging. The arrival of U.S. gold in consignments is a godsend for the cause.

Today's Blog gallery features four premium U.S. gold pieces from the Osprey Collection. Yes, Dan White remains active on the gold procurement front and is considering a gold buying trip to Europe come September. More on this topic as the summer months move along.

We open the display with a rare 1858-S NGC AU58 $1 gold piece, one of only 10,000 minted. The AU58 level is the last "affordable" grade as this date is a rarity in Mint State with huge premiums. The 1901-S $10 is ideal for high grade type set. The 1909/8 $20 is always a popular St. Gaudens die variety.

Look for these four pieces to post to the price list by end of day.

 

Osprey Collection - Latest U.S. Gold Offerings

    1858-S NGC AU58 G$1                                                       1901-S PCGS MS65 CAC G$10

    

1909/8 PCGS MS62 G$20                                                        1924 NGC MS64 CAC G$20

    

 

Eclectic Collection Auction Sale Bidding Update

Today brings the final hours of the traditional auction contemplation period. Wednesday's bidding is best described as quiet with hopes for more activity today. As of this morning, 26 lots have met reserves which is the same number as Wednesday's Blog report. I'm not holding my breath for a bidding wave during the next 12-24 hours and trusting that the higher priced lot bidding will take place on Friday and Saturday.

Let's examine four more premium lots that would be ideal for an advanced collection.

The Eclectic Collection auction sale includes the only Gold CAC approved 1840-O Drapery quarter which is an important opportunity for collectors seeking top end specimens. Few Gold CAC Liberty Seated quarters come to market across a multi-year time span with this auction being a truly special opportunity. The 1840-O Drapery quarter has yet to garner a bid given the high reserve. If the reserve is questionable, please visit the CAC Price Guide and population report. There you will find the basis for the reserve. There is a single Mint State example CAC approved at MS64. This Eclectic lot is definitely worthy of a Mint State certification and is priced accordingly.

The 1854-O Crumbled Die Obverse is one of my favorite Liberty Seated quarter die varieties. The Eclectic example is found in a later die state with severe die degradation at the date and right arrow. This variety is many times scarcer than the Huge O but still lacks the pricing recognition since not listed as a major variety in the Guidebook or by the TPGs. This offering is one of the finest example seen and definitely worthy of a bid.

You've probably noted that the Eclectic 1856 PCGS MS65 CAC quarter was selected as the plate coin for the auction banner. That fact is a serious signal that the piece is a marvelous gem that belongs in the most advanced sets being assembled. Only three CAC approved pieces are finer (MS66).

We close today's discussion with a superb gem 1881 Seated half being offered by the Oregon Beaver Collection. Len Augsburger describes this pace in the following manner and I fully agree. This piece is absolutely sweet!

The 1881 Seated half in the Oregon Beaver Collection is absolutely sweet. Unabraded steely fields are fully brilliant and downright stunning under angled lighting. Cartwheels are equally pleasing. Toning has all the hallmarks of an unmolested gem with intermixed rose-blue on the obverse while the reverse is decorated by a wide aquamarine-blue band. 

Good luck with your bidding decisions!

 

Noteworthy CAC Approved Eclectic Collection Auction Sale Lots

       1840-O Drapery PCGS AU55 Gold CAC 25C                              1854-O Crumbed Die PCGS EF45 CAC 25C         

    

1856 PCGS MS65 CAC 25C                                                    1881 NGC MS65+ CAC 25C         

    

 

Global Financial News

Wall Street saw an impressive post Jerome Powell news conference rally as traders are feeling comfortable with the Federal Reserve's inflation fighting strategy. The fear of a surprise 0.75% Fed Funds rate increase was weighing on many with relief at the 0.5% increase and the beginning of quantitative tightening. The S&P gained substantial ground back to the 4,300 level and the DJIA breaking through 34,000. Spot gold also responded to the Federal Reserve announcement and is trading at the $1900/oz mark as the Blog is being written.

Morning market futures are presently negative and down on average about 0.5%-0.7% for today's trading opening time. Some traders will be selling into yesterday's rally for short term profits. This is to be expected after a major positive market move.

 

Wrapping Up the Blog

I'm promptly ending the Blog at this point for a quick shower followed by a drive to the Raymond Firehouse for that all important burning permit.

I will be back in the GFRC office during the mid afternoon hours. Please send your purchase requests via email or phone message. All will be responded to once back in the office.

Thanks as always for making the Daily Blog a regular part of a day's online reading. Be well.

 

 

 

Wednesday May 4, 2022

Matt Yamatin Returns Home on Friday

More New Purchases to Consider

and

Eclectic Collection Auction Sale Bidding Update

 

Greetings at 6:00 AM from the Maine homestead and welcome to another Daily Blog edition. Your ongoing patronage is appreciated.

Rain and general gloom will dominate southern Maine today. I'm perfectly fine with the weather for a host of reasons. First is the wet conditions have shifted the Maine fire danger map to low. Current plans for Thursday include securing an early morning burning permit followed by eliminating the huge brush pile that must be cleared out. Second is that cold wet weather keeps me in the GFRC office processing more consignment and new purchases images. Finally, there is a substantial stockpile of Venice Florida photograph to keep me going for two weeks. So please let it rain today to pave the way for Thursday's brush burning event.

Tuesday brought the arrival of the second consignment from the Wisconsin Gold Collection. All I can say is awesome once Diane opened the shipment which facilitated a review of the contents. Once Maine weather clears up, this consignment will be at the top of the list for imaging.

Speaking of consignments, I had been in discussion with a potential client for the next GFRC Online Auctions event. This individual has gone through seller's remorse and decided to hold on to his coins for the time being. He is experiencing a very hectic personal schedule and we agreed that now was not the time to rush this all important decision. I had planned to merged this collection with a fresh consignment from the Wisconsin Collection as the basis for a June auction event. The Wisconsin Collection plans to release an 1878-S Seated half among other lots.

Now that I've lost the anchor collection, GFRC Online Auction is searching for a substantial collection for its next event to pair with the Wisconsin Collection offerings. If no major collection emerges, I'm open to building an auction from multiple consignors. Of course, the key is gaining access to a substantial number of premium numismatic items. If there is potential interest in working with GFRC, please email or call to discuss options and timing.

 

Matt Yamatin Returns Home on Friday

It has been literally years since Matt and his family were back at the Maine homestead. Their last visit was well before the Covid pandemic. So much has changed here.

Matt's initial tenure at Thermo-Fisher Scientific (TMO) as Sustainability Director is moving along well. We speak every Friday to catch up on the week's events and his growing impact on the corporation's strategic energy management initiatives.

Chikae and Natsumi are in the final stages of their Beijing school year with booked flights from Shanghai to Boston towards the end of June. Little will be brought back from China in terms of possessions. Matt has secured a lovely two bedroom rental in the Boston area that will hold them over until being able to purchase a home. With interest rates quickly rising and equity markets being weak, Matt made the wise decision to rent rather than conduct a rush home purchase. Soon, Diane will be traveling to Boston to aid Matt with the furnishing acquisition process. That timing will be discussed this weekend which leads to this segment's title line.

Late Friday afternoon brings a drive down to Needham MA to chauffeur Matt back to the homestead. We could not be more thrilled to have Matt back home for the weekend with a host of catching up to do after years apart.

 

More New Purchases to Consider

Today's new purchases gallery is a bit on the anemic side but explainable.

Yesterday at 11:00 AM, I received a call from our Portland dentist indicating an opportunity to have a cracked tooth capped if I could be down into the office by 11:45 AM. The driving time from here to there is about 35 minutes. There was a planned appointment for an initial consultation at 1:30 PM that shifted to a full repair on a moment's notice. Luckily, morning shipping had been completed with my attention shifting to other admin duties. Off I went to the dentist and "enjoyed" a complete procedures with a new cap, returning home by 2:30 PM.

Once home, the focus shifted to image processing and gallery creation for today's Blog edition.

Folllowing is a lovely lot of lower priced collector coins that will not last long once Blog readership arrives. Already, there have been several emails requesting quotes. These lots are part of that 150 piece collection that was purchased while in Florida. I'm modulating between recent consignments and the new purchases stockpile for a steady flow of new offerings.

It goes without saying that this lot will be posted to the price list by end of day.

 

More New Purchases to Consider

1921 PCGS AU55 CAC 25C

 1892 PCGS MS62 25C                                 1892 NGC MS62 25C                                  1901 NGC AU58 25C    

            

   1951-S PCGS MS66 25C                              1857-S NGC G06 50C                                1860 ANACS AU50 50C    

            

 

Eclectic Collection Auction Sale Bidding Update

I'm most appreciative for the ongoing daily bidding concerning the current Eclectic Collection Auction Sale. As of this morning, 26 lots have met reserves with a total bid price of $44,813. The initial bidding is still a far cry from the total $275,000 in reserves, however, each day brings incremental progress.

Following are several marquee lot highlights that remaining unattached and hopefully to be acquired lots on Saturday. If I were planning to win these lots, my strategy would also be to hold back bidding until the final hour towards eliminating competition.

We open with a truly special 1868 dime from my reference collection. Yes, the reserve price has been set at a high level that some might find to be extraordinary. My response is to visit the CAC Price Guide and view the population report coupled with the gorgeous toning. As a dealer, I've acquired a keen sense on what gem Seated material is truly worth in today's market. You've seen me pay "off the charts" prices for the latest core set upgrades which is necessary to gain access.

Next is the amazing and unique 1840 Drapery quarter graded PCGS MS63 with Gold CAC approval. The Eclectic Collection purchased this piece at auction with the record visible on CoinFacts. The reserve price is his winning bid price which probably appears extraordinary to most in the community. Again, a visit to the CAC Price Guide and population reports is telling. Gold CAC approved Liberty Seated quarters are indeed rare. For the No Motto design, CAC has Gold beaned only 15 pieces with three being Mint State. The highest is a single MS66 (1858), a single MS63 (this lot), and a single MS62 (1858-O). The 1840 Drapery stands out as being a fundamentally rare date to begin with versus the 1858 and 1858-O counterparts. In terms of Green beans, CAC has only approved two (MS63) and a single MS64. Therefore what is the Eclectic Gold CAC PCGS MS63 truly worth as potentially the finest known? I'm fine with the $22,500 reserve based on what I'm paying for finest known rare date Liberty Seated dimes.

Noteworthy CAC Approved Eclectic Collection Auction Sale Lots

           1868 NGC MS64 CAC 10C                                             1840 Drapery PCGS MS63 Gold CAC 25C

    

 

Several of the Eclectic Collection lots do not have a CAC green bean but still stand on their own given their rarity and importance.

Little need to be said concerning the 1871-CC PCGS F15 quarter as Len Augsburger has written a short mini-series for a description. This lot is 100% choice original with classic natural gray eye appeal. Any passionate student of the Liberty Seated quarter series would be thrilled to own this specimen as perfect for the grade.

The 1849 Dramatically Doubled Die obverse Seated half is the finest specimen known and previously from the famed Dick Osburn Collection. There is an auction record for the lot dating back to October 2014 if one carefully checks the WB-6 FS-301 variety segment for the 1849 date on CoinFacts. The obverse date doubling is indeed dramatic and certain to please those who are passionate about their Liberty Seated halves and major varieties.

Awesome Eclectic Collection Auction Sale Lots

1871-CC PCGS F15 25C                                                    1849 DDD WB-6 NGC MS64 25C

    

 

Global Financial News

All eyes are on Fed Chair Jerome Powell again as the market expects a 0.5% interest rate hike in the Fed funds rate. This hike has been well telegraphed and should not surprise anyone on Wall Street. The unknown is the Fed's strategy for releasing its bloated balance sheet after several years of quantitative easing during the pandemic. If the Fed also implements quantitative tightening, investors will not be pleased.

Over in Europe, the European Commission has unveiled new sanctions on Russian oil exports that have some teeth. As a result, I don't see crude oil dipping below the $100 mark in the near term.

Morning market futures indicate some slight buying optimism at the market's 9:30 AM after small gains on Tuesday.

In Asia, Japan closed. Hong Kong -1.1%. China closed. India -2.3%.
In Europe, at midday, London -0.5%. Paris -0.5%. Frankfurt -0.2%.
Futures at 6:20, Dow +0.4%. S&P +0.4%. Nasdaq +0.3%.

WTI crude starts the day at $106/bbl while spot gold is holding at the $1870 level. Bitcoin is stuck at $38,930. The 10 Year U.S. Treasury bond yields stands at 2.95%.

 

Wrapping Up The Blog

Another super busy GFRC office day awaits me so let's get on with the day.

Yes, I will be in the office the entire day and available for your purchase orders and potential consignment inquiries. Please remember that every major consignment, regardless of fixed priced list or auction, secures well recognized marketing publicity in the Daily Blog. If an auction consignment, your prized collection is also memorialized within its own PDF catalog that can be easily printed. Finally, no one is the numismatic business offers so much for one fixed commission rate. GFRC operates with a tiny staff out of a home office. This level of cost management, and hard work, brings more monies back to your pocket when selling rather than funding an auction house's overhead costs.

Thanks again for stopping by. Be well.

 

 

 

 

Tuesday May 3, 2022

Ledge Hill Trails Mystery Solved - What is a Porcupine Tree?

More AuburnNY Accordian Collection Seated Dime Varieties

and

Eclectic Collection Auction Sale Bidding Update

 

Greetings and welcome to the Daily Blog on a cool and slightly wet Tuesday morning. It is spring time in Maine and I'm still enjoying being home.

For those of you who continue to inquire about Buddy the Dog, he is doing well and has adjusted to a life with three legs. Of course, he is unable to jump or move up/down stairs. He has learned to ask for help when wishing to be placed on the couch. May 25 brings his vet visit and a determination for immediately surgery or not.

Our resident artist, Susan Durazo sent along her latest creation documenting the northern migration and Buddy's ill fate jumping attempt. Please look closely at the drawing's background. Yes, those are a host of pencil rub tracing of an 1873 No Arrows Liberty Seated piece. Only at the Daily Blog can you find such numismatic creativity! Thank-you Susan for the newest gift!

 

Ledge Hill Trails Mystery Solved - What is a Porcupine Tree?

In Monday's Blog, an image of a shaved tree was posted with a request for help with identifying the animal responsible for this attack on our back 20 forest. Following is that image as a reminder.

 

In the matter of minutes after uploading Monday's blog, a response appeared from the Motor City Collection consignor as follows:

Hi Gerry,

Given the location of the damage to the tree, location and the quantity, the culprit is probably a porcupine. They like to eat the inner bark; they remove the outer bark to get to it.  There are probably teeth marks on the tree.

Other inputs also arrived during the day with the same conclusion. The Fortin's have a porcupine issue in the back acreage. It is interesting that they have yet to venture out of the forest towards the homestead probably due to the clearing that has been done by the settler's stone wall.

So the shaved tree can be labeled as a porcupine tree. I find this to be such an amazing coincidence as I am now into a British band named Porcupine Tree in the basement sound room. They are touring the U.S. during 2022 with the nearest concert date being Radio City Music Hall in NYC.

 

A Gerry Fortin Core Collection Duplicate Heading to Price List

For Blog readers with a good memory, you might remember that the finest known 1863 PCGS MS67 CAC dime was purchased at the 2022 Winter FUN show for the core Seated Dime collection. As a result, the current PCGS MS63 CAC specimen has been retrieve from the bank vault and is heading to the price list today. This one will be priced at the CDN CAC price guide number which is $4950. Total CAC population is only 20 with 12 of those being in Mint State. CAC has only approved two at the MS63 level with GFRC selling the other example from the Mountaineer Collection during February of this year.

 

Gerry Fortin Core Collection Duplicate Heading to Price List

1863 F-101a PCGS MS63 CAC 10C

 

More AuburnNY Accordian Collection Seated Dime Varieties

Liberty Seated dimes are the theme for today's Blog as we announce the contents of a fresh consignment from the AuburnNY Accordian Collection. Following is a strong lot that opens with an important 1865 business strike graded PCGS MS62. Surfaces are 100% original and toned a natural coin gray along with completed strike and wired rims. This piece is freshly graded and has not been submitted to CAC (it is a long story). I suspect this one will not last long on the price list. The balance of the offerings include a cool 1872 F-109 proof dime with misplaced 2 digit in the base, an 1838 "Partial Drapery" F-109 dime which is the second partial drapery obverse die marriage without a clashed reverse. The F-109 pairing is much scarcer than the F-108 which is included in the Top 100 Varieties set. For those who love huge die cuds, the 1853 Hubbed Arrows & Date F-104a should be a prized acquisition.

Offer prices have already been approved, therefore I am in a position to provide immediate quotations. This lot will posted to the price list later this afternoon.

 

AuburnNY Accordian Collection - Better Liberty Seated Dime Varieties

1865 F-101a PCGS MS62 10C

1869-S F-101 PCGS EF45 CAC 10C                                                   1872 F-109 NGC PR65+ CAC 10C

    

 1871-S ANACS EF40 H10c OWH           1838 Part Drap F-109 PCGS EF40 10C              1842-O F-102a PCGS EF45 50C

            

 1851-O F-101 PCGS EF40 10c           1853 Arrows F-104a Raw VG10 10C

       

 

Eclectic Collection Auction Sale Bidding Update

Monday brought continued bidding for the Eclectic Collection Auction Sale. The total number of lots meeting reserve has increased 21 as new bidders appear on the scene. Tuesday through Thursday typically brings the contemplation period. I'm hoping that the contemplation is accompanied with incremental bidding as there are a host of fantastic Liberty Seated coins being offered in this sale. We are at the point where I've done all possible to bring the horse to the water trough but the horse must decide to drink. Yes, I completely understand that this auction has a host of higher priced coins that may be out of reach for some in the community. Inflation worries are also real as is a weak equity market.

Following are several lots that come highly recommended. For collectors on a budget, please pay special attention to these two lots.

1862 Briggs 2-B NGC AU58 CAC 25C                                             1868 PCGS VF30 CAC 25C         

    

 

For collectors building truly advanced collections with available monetary resources, the following two lots should be scooped up. The reasoning should be self evident by paying a visit to the CAC population report and price guide. Both would be prized acquisitions at their grades.

  1868 PCGS MS63 25C                                                             1869 PCGS MS64 CAC 25C

    

 

Global Financial News

U.S. politics will continue to become more intense as a Supreme Court law clerk has leaked a draft ruling. This is unprecedented in the history of the Supreme Court with that individual needing to be immediately fired and disbarred from ever practicing law. However, the damage is already done to the institution. Nothing is sacred anymore in this country as politics is equivalent to an outright scorched earth policy for many who see themselves as activists.

Over in financial markets, the 10 Year U.S. Treasury bond yield has reached the 3.0% mark given another pending rate hike by the FOMC. Morning market futures are flat after slight gains on Monday.

In Asia, Japan closed. Hong Kong +0.1%. China closed. India closed.
In Europe, at midday, London -0.7%. Paris +0.4%. Frankfurt +0.2%.
Futures at 6:20, Dow flat. S&P +0.1%. NASDAQ +0.1%.

WTI crude is back up to $104bbl. I bought diesel fuel on Sunday and paid $5.40 for a gallon. This is a huge increase and will damage the truck transport industry. Private driving firms simply cannot absorb these higher fuel costs without passing along as more pricing inflation.

Paper gold continues to wane at $1859/oz given the stronger US dollar and higher interest rates. Bitcoin is going no where fast at $38,437.

 

Wrapping Up The Blog

Yes, I will be in the office for most of the day posting the AuburnNY Accordian lot to the price list and processing yet more images for another Blog gallery display. An important U.S. gold consignment is also due to arrive today.

Thank-you for stopping by the Daily Blog. Be well!

 

 

 

Monday May 2, 2022

A Sunday in the Back 20

Another Ledge Hill Trails Mystery - Can You Help?

and

Eclectic Collection Auction Sale Bidding Update

 

Greetings on a cool Monday morning and welcome to another Daily Blog edition.

How did your blogger celebrate May Day? By spending nearly the entire day in the back 20 acres! Sunday was a gift to myself after months of exclusive focus on the GFRC business. Today's Blog edition captures activities and progress made.

After completing Sunday's Blog, my buddy Kevin arrived with his trailer for another load of firewood. While he is sawing through a large log and branch pile, the JD2025 front bucket was removed and the AV20 grapple is attached. Coupler hoses are connected and then trouble appears. The grapple clamshell or claw would not open or close. The third function hydraulics were working as the hoses were responding to pressure but not the grapple clamshell. After disconnecting and reconnecting the couplers and other trouble shooting efforts, the only conclusion is that the clamshell cylinder has gone bad which is strange since it work just fine on Saturday. A call to the Hall Implement service department is on tap for this morning for potential insights.

Without the grapple, Kevin and I hand loaded his trailer. It took some effort to move and lift larger logs into the trailer but we managed as two older guys. Off he went followed by the bucket being re-attached to the tractor. The balance of the day was spent either with the chain saw or moving newly arrived materials onto the trails. The goal was to repair wet areas sufficient to allow daily usage of the full trail loop by Diane and her walking friends.

Returning to Maine a week early and jumping onto the trail project during wet conditions was fortuitous as realized during the day. The JD2025 weighs 2700 lbs and was leaving deep tire tracks on the moderately wet trail sections. These sections require a substantial amount of stone or crushed brick as a foundation for the top level gravel layer. Building up that stone foundation was critical as Johnny 2 (JD2038R) weighs in at over 5000lbs and will generate even deeper ruts. Bottom line, the realization set in that this project had become a mini road construction effort of sorts. To reach the furthest most points of the trail, the trail "roadway" must support the weight of the forthcoming Johnny 2 tractor. Living life with continuous learning is indeed rewarding....

Hours were spent on Johnny 1 moving stone and crushed brick onto the wet trails areas. This is a slow process given the small bucket size and the back and forth tractor rides to the trail construction points. Following is a visual display of Sunday's limited progress. We open with a summer 2021 trail map that has been updated with trail graveling status along with being marked with locations 1 and 2. These were the new construction points, both being very wet areas.

 

Good progress was made at trail site "1" given the shorter material transport distance from the Dave Wilkinson dumping area (intersection where the north and south trails start). The crushed brick is ideal as a base material as it packs well and lodges nicely into the wet soil due to the many sharp edges. Here are two photos taken from area "1". Note the crushed red brick at the bottom of the second image.

Trail Site 1 Progress - Looking Downhill

Trail Site 1 Progress - Wet Area Looking Uphill

 

Progress at trail site "2" was slow and frustrating due to the very long transport distance and the extremely wet conditions at the construction site. This is where the tractor was stuck in mud on Saturday. The following image was taken looking uphill as I approach the soaked mud spot with substantial amounts of crushed brick. The Johnny 1 rear wheels tire ruts are shown but deeper than the photography indicates. My guess is that this location will require at least 10-12 bucket loads of crushed brick for stabilization and future access by the heavier Johnny 2.

Trail Site 2 Progress - Muddy Area Looking Uphill

 

Another Ledge Hill Trails Mystery - Can You Help?

While transporting crushed brick on the southern trail, I noted a most bizarre situation taking place. A tree was being systematically shaved by an unknown animal. Following is an image of what remains of the tree including the shavings piled around the tree's base. I would appreciate some research help from the wildlife experts in the community for identifying the animal responsible for this observation. Feel free to click on the image for a higher resolution version.

 

Eclectic Collection Auction Sale Bidding Update

Bidding continued on Sunday for the Eclectic Collection Auction Sale. As of this morning, 17 bids totaling $33,313 have been placed. This is a far cry from the $275,000 in reserves but understandable. I believe there are several factors as explanation. First is that the auction contains many four and five figure coins. Serious collectors typically do not bid on these type of lots until the closing auction hours. Second is that spring time has arrived with many community members spending time outdoors as I did on Sunday. After two pandemic years and another winter, everyone wishes to return to the great outdoors.

Several Eclectic lots are hot with multiple bids as illustrated next.

Eclectic Collection Auction Sale - Multi-Bid Lots

1843 Briggs 2-C PCGS AU55 CAC 25C                                            1875 PCGS AU55 CAC 25C          

    

1877-CC PCGS AU58 CAC 25C                                                     1878 PCGS AU58 CAC 25C     

    

I'm pleased to report that one of the four primary Carson City lots has received a bid. Which one you ask? Please check the online auction catalog to learn which of these four pieces is already spoken for.

Eclectic Collection Auction Sale - Important Carson City Lots

      1870-CC PCGS VF30 25C                                                            1871-CC PCGS F15 25C        

    

        1875-CC PCGS MS63 CAC 25C                                        1873-CC Arrows WB-8 NGC AU58 CAC 50C

    

 

Global Financial News

We open today's Global Financial News segment with a Seeking Alpha report out from Warren Buffett and Charles Munger concerning Bitcoin. Their commentary should be viewed as a perspective from two old wise sages. They do not mince words concerning the investment value of Bitcoin. I love the rat poison squared reference...

Just a month after Peter Thiel called Warren Buffett the "enemy No. 1" of Bitcoin, describing him as a "sociopathic grandpa from Omaha," Buffett doubled down on his outlook of the popular crypto at Berkshire Hathaway's annual shareholder meeting. "Nobody wants their windpipe stepped on and I don't blame them. I don't like people to step on my windpipe, but I will say this," declared Buffett, who has previously referred to Bitcoin as "probably rat poison squared." Quote: "If you said... for a 1% interest in all the farmland in the United States, pay our group $25B, I'll write you a check this afternoon. For $25B, I now own 1% of the farmland. If you tell me you own 1% of all the apartment houses in the United States and you want another $25B, I'll write you a check, it's very simple. Now if you told me you own all of the Bitcoin in the world and you offered it to me for $25 I wouldn't take it because what would I do with it? I'd have to sell it back to you one way or another. It isn't going to do anything. The apartments are going to produce rental and the farms are going to produce food. That explains the difference between productive assets and something that depends on the next guy paying you more than the last guy got." "Assets, to have value, have to deliver something to somebody. And there's only one currency that's accepted. You can come up with all kinds of things - we can put up Berkshire coins... but in the end, this is money," he announced, holding up a dollar bill. "Anyone that thinks the United States government is going to change the way they let Berkshire money replace theirs is out of their minds. Whether it goes up or down in the next year, or five or 10 years, I don't know. But the one thing I'm pretty sure of is that it doesn't multiply, it doesn't produce anything. It's got a magic to it and people have attached magic to lots of things." Munger chimes in: "In my life, I try and avoid things that are stupid, and evil, and make me look bad in comparison to somebody else - and Bitcoin does all three. In the first place, it's stupid because it's very likely to go to zero. In the second place, it's evil because it undermines the Federal Reserve system that we desperately need to maintain its integrity and government control... and third, it makes us look foolish compared to the Communist leader in China. He was smart enough to ban bitcoin in China, and with all of our presumed advantages in civilization, we are a lot dumber than the Communist leader in China."

Asia markets are closed for May Day holiday while U.S. equities will open with some buying activity after Friday's drubbing.

In Asia, Japan -0.1%. Hong Kong closed. China closed. India -0.2%.
In Europe, at midday, London closed. Paris -1.3%. Frankfurt -0.7%.
Futures at 6:20, Dow +0.5%. S&P +0.4%. NASDAQ +0.5%.

Monday sees WTI crude quoting at $102/bbl while spot gold is struggling at $1881/oz. Bitcoin continues to be in a tight trading range at $38,751.

The 10 Year U.S. Treasury bond yield is hanging tough at 2.91%

 

Wrapping Up The Blog

I hope that you have enjoyed today's lengthy Blog edition. I had fun with the composition but must quickly hit the shower and get on with a substantial amount of Monday morning shipping. Yes, I should be in the office for most of the day.

Thank-you as always for checking in at the Daily Blog.

Be well!

 

 

 

Sunday May 1, 2022

Scrapping Today's Planned Brush Pile Burning Event

and

Eclectic Collection Auction Sale Bidding is Underway

 

Greetings on May Day and welcome to the Daily Blog. Hints of the forthcoming summer are in the air!

Your blogger is a tad sore this morning after more road sand clean-up and back acreage efforts on Saturday. The slope portion of our driveway and adjacent lawn have been thoroughly cleared of sand leaving only the flat area in front of the homestead to be swept. Yes, I'm still removing road sand the old fashion way with a brush and shovel. Gone is the wheel barrow in lieu of the JD2025R.

Dave Wilkinson was active on Saturday and brought three loads of material for the back acreage trails project. I made a special request for a load of crushed brick as an inexpensive fill material for trail segments that have a history of collecting water and require drainage mitigation. One of the spots became promptly obvious when sinking the JD2025 back wheels into axle deep mud on Saturday afternoon. While moving newly arrived sand with 1.5" stone on a fresh trail section, I went a tad further to a turnaround area. I knew this spot had a history of being wet but took the risk. Immediately, I found myself with the tractor rear wheels buried to the axle in the deep woods. Bummer! I was too focused to stop and take a picture of the stuck tractor in hindsight.

Luckily, Youtube videos saved the day. I had seen enough mud buried videos of stuck tractors and excavators and instinctively knew how to resolve the dilemma. The backhoe stabilizers were dropped raising the rear wheels out of the mud followed by placing larger stones in the created holes. Yes, there is always an abundance of stone on the property. Next, old tree branches were placed in front of the mud holes to support the tractor weight once moving forward. The solution worked like a charm with the tractor freed during the first attempt. Thank-you Youtube videos as an education tool! After returning to the material staging pile and seeing Dave Wilkinson dropping a regular 1.5" stone load, I asked for a load of crushed brick to fill in that mud area along with others expected at the northern part of the trail. The crush brick is ideal as a drainage ditch filler and can be covered with regular stone for trail aesthetics.

 

Scrapping Today's Planned Brush Pile Burning Event

Today had been planned for burning a substantial brush pile. Unfortunately, a check of the Maine Fire Danger map revealed that the entire Cumberland county and lands extending west into New Hampshire have shifted to a high fire danger risk. The brisk winds of the past 48 hours had dried out the landscape. So much for today's brush burning plans. Instead, the focus shifts to cutting more trees at the barn construction site plus loading Kevin's trailer with incremental logs. There are so many facets to the back acreage project including the removal of down tree logs towards area beautification.

Following is an image of the burn pile and area where the barn will be located taken on Saturday morning.

 

Eclectic Collection Auction Sale Bidding is Underway

Eclectic Collection auction bidding opened on Saturday evening at 9:00 PM. Initial bidding was on the light side as compared to more recent auctions.

A total of 12 bids were placed with Gold CAC approved items along with lower priced lots garnering much of the activity. The PCGS MS64 CAC approved 1852 and 1855 dimes also drew initial bidding attention.

I'm certain that more bidding will take place today and on Monday. This auction features a host of higher priced lots which typically realize bidding action during the final two days.

 

Wrapping Up The Blog

My apology for a brief May Day Blog edition. After a long winter in the GFRC Venice coin office, there is a personal desire to spend a full day in the back acreage with the JD2025. First up is a trip into Raymond to secure five gallons of diesel fuel followed by preparing for Kevin's arrival at 9:30 AM.

I hope that your May Day plans also include yard clean-up and flower planting activities. We are made to be in the great outdoors!

Thanks for stopping by at the Blog. Be well!

 

 

 

Saturday April 30, 2022

The Wait is Over - Eclectic Collection Auction Sale Bidding Opens at 9:00 PM

and

Solidly Original Draped and Capped Bust Halves to Consider

 

Greetings on the final day of April 2022 and welcome to another Daily Blog edition. Your ongoing visits are appreciated.

I'll be honest. The gravitational pull from the back acreage is becoming intense. My day started with breakfast and the though of sitting indoors and composing yet another Blog edition just did not compute. With bright sunshine and clear blue skies, the decision was made to enjoy a brief stroll on the graveled portion of the back trails along with determining what improvements are next. Dave Wilkinson is due back today with 14 yards of 1.5" gravel and a single 7 yard load of 1.5" stone.

OK, I'm back from the stroll and ready to type for an hour or so before morning shipping kicks in.

Friday brought another windy and cool day. However, the weather conditions were ideal for gravel sweeping as there was zero chance for black flies. The top portion of the driveway was nicely cleaned and looks more inviting to those that visit the homestead. This afternoon will probably bring another session. It is that or jumping on the tractor and moving around gravel into the trails. Which sounds like more fun to you?

Sunday's priority is burning the brush pile as the winds will be perfect at only 8 mph and from the northwest. The resulting smoke plume will be blown downhill and not bothering the neighbors. I will share a close up image of the b urn pile and location of the forthcoming barn on Sunday morning's edition.

The Oops department requires a correction on the 1829 LM-6.2 R5 Capped Bust half dime that arrived to the price list yesterday. I quickly learned that this piece would be the finest known LM-6.2 and a significant die variety rarity. Further inputs indicated that the coin was a 7.x which I verified as 7.1 with only an R4 rarity rating. This is not the first time that I've mis-attributed a Capped Bust something and probably won't be the last. The key is a swift correction and acknowledgment.

So onward to the today's main event as I'm out of preamble topics.

 

The Wait is Over - Eclectic Collection Auction Sale Bidding Opens at 9:00 PM

Yes, the wait is finally over for all concerning the Eclectic Collection Liberty Seated Quarter and Other Numismatic Properties Sale. Bidding opens this evening at 9:00 PM for a broad range of premium Liberty Seated dimes, the main Seated quarter event, along with a fine offering of better date and grade Seated halves. For those that attended the Central States show and did not completely spend your coin monies, this auction should definitely have something for most collectors of the Liberty Seated series. A 90+ lot auction with reserves totaling $275,000 is certainly noteworthy for the Liberty Seated community as many advanced collections are under construction.

In prior Blog, I've provided a range of auction highlights. Today, let's repost the Eclectic Collection's PDF catalog for potential download and enjoyment.

Good luck to those who adopt a bold early bidding strategy with robust maximum bids. This approach does have merits. Foremost is placing your absolutely best number on a coin and letting that bid ride until May 7 closing hour without any anxieties. If the bid holds, then great. If it does not, there is comfort in not chasing a coin beyond your budget.

Others enjoy the wait and see approach. They examine early bidding results to assess which coins are initially popular and devise their bidding plans accordingly. GFRC Online Auctions have become a combination of early finesse migrating to brute force bidding during the final hour. From my perceptive, the week's bidding is priceless entertainment as nearly all bidders are known to me. I've seen enough bidding patterns in the past year plus to anticipate how certain lots will play out.

This is also a benefit when keeping a company small with the owner in the store. There is a personal touch that is difficult to scale.

OK, enough ramblings on this topic.... I need to get on with the day.

 

Draped and Capped Bust Halves to Consider

This gallery captures an accumulation of new purchases spanning back to the Whitman Baltimore show and presents solidly original Draped and Capped Bust halves. Yes, I was careful with the attribution along with current TPG holders more often seen with label attributions.

We open with a low CAC population 1806 O-112 6 Over Inverted 6 half that screams originality. CAC is tough on Draped halves as so many have been enhanced in some form. Truly unmolested surfaces are hard to come by when collecting the earliest American coinage. The balance of the display is evenly colored gray with other shades based on the toning environment. The late date 1835 is the exception with brilliant luster and attractive coloration.

 

Solidly Original Draped and Capped Bust Halves to Consider

1806 O-112 6 Over Inverted 6, PCGS EF40 CAC 50C

1814 O-103 PCGS AU50 50C                                                   1818 O-111 NGC AU50 50C

    

 1814 O-105 NGC EF40 50C                      1819/8 O-101 NGC EF45 50C                      1835 O-104 PCGS AU50 50C

            

 

Wrapping Up The Blog

The 8:00 AM publishing time is upon me and a reason to wrap up for another day.

I will be in the office during the morning hours, followed by spending the afternoon outdoors. You are welcome to call or text to reserve a coin. Afternoon orders will be responded to after dinner and your patience is appreciated. Gone are the days of sitting the Venice condo office for hours on end. I'm back in Maine and an attitude shift is here....

Thanks again for checking in at the Blog.

Be well!

 

 

 

Friday April 29, 2022

Wow! An Early Mint State Half Dime Cavalcade!

and

Eclectic Collection Auction Sale Bidding Starts Tomorrow

 

Greetings once again from a chilly southern Maine homestead and welcome to the Blog. Thank-you for stopping by.

Yes, the winds continue along with a cold 35F temperature to start a Friday. The wood stove is roaring at a level that is unexpected for the end of April. The seven day weather forecast indicates a slight warming trend to come next week.

Busy is the operative word for the current situation in the Maine office and homestead. It is difficult to continue sitting in the office while looking at road sand across the driveway and torn up patches of lawn along the driveway let alone working on tree cutting in the new barn area. Yesterday brought a split of time between processing new purchase and consignment images plus loading more logs on Kevin's trailer. Several trees were downed and cut before returning indoors.

I hope that the GFRC community continues to enjoy visiting the Blog as a distraction for what is happening to our country. Do we need a Ministry of Truth now that Elon Musk has purchased Twitter. Enough said and best to stick with sharing a country life and numismatics.

The first installment of the forecasted consignment wave has arrived. Linda, the Raymond Post Master, and Doug the Mailman both made appearances yesterday along with FedEx. Shipments from the Lakeland and AuburnNY Accordion Collections were delivered plus some awesome U.S. gold which was secured privately. There is sufficient backlogged inventory to keep the 30 Day Price List fresh well into May. I continue to conduct selective buying when the "right" coins appear along with supporting consignment proposals.

On a personal note, the past two months have brought a significant change in diet that has facilitated the loss of 10 lbs as of this morning. Gone are the carbs with a diet that is mostly protein, some fat, and greens/dark vegetables. Snacking in between meals is gone. What was so surprising is a reduction in hunger as I removed carbs from a daily intake. It took years for the realization to set in that exercise alone will not reduce weight. The elimination of processed foods with embedded fructose sugar can bring about substantial changes in well being. Some of the major foods that were eliminated from my diet include rice, orange juice, pasta, and of course bread. I'm consuming three eggs per day and dark green leafy salads for at least two meals. An assortment of nuts precede the dinner meal. The resulting energy level is quite surprising and welcomed.

Therefore for those in the community who have not seen me for several months, please don't be surprised when a leaner Gerry appears at the next coin show. Rest assured that I am most healthy. Credit goes to Dr. Berg and his 2500 Youtube videos that explain all bodily functions on a chemical basis. Once understanding the body's incredible chemistry, it was straightforward to make diet changes that reduce insulin production. If you are overweight, please do yourself a favor and begin exploring the many Dr. Berg videos as a roadmap for a healthier lifestyle. We truly are what we eat.....

 

An Early Mint State Half Dime Cavalcade!

Today's new purchase gallery showcases a host of new Mint State Capped Bust and Seated half dimes for consideration. The choice originality of these upcoming offerings is unmistakable. Included in the group are several better Capped Bust half dime die varieties and NGC Fatty holders. All are priced and will post to the price list by end of day. Please feel free to tender email inquiries prior to their online posting.

 

Wow! An Early Mint State Half Dime Cavalcade!

1830 LM-1.2 R4 NGC MS65 CAC H10C Fatty

1831 LM-6 NGC MS64 H10C                                                   1832 LM-7 PCGS MS63 CAC H10C

    

1838 No Drap PCGS MS65 CAC H10C                                            1841 NGC MS65 H10C Fatty       

    

 1829 LM-7.1 R4 PCGS MS63 H10C            1831 LM-1.2 NGC MS63 CAC H10C             1840 No Drap PCGS MS63 H10C   

            

1853 Arrows PCGS MS64 H10C                      1870 PCGS MS63 H10C         

       

 

Eclectic Collection Auction Sale Bidding Starts Tomorrow

Bidding for the long awaited Eclectic Collection Auction Sales arrives tomorrow evening. The premium nature of this event should bring about a host of attention.

Please remember to carefully assess your bidding strategy as GFRC Online Auctions are a bid centric application. Each bid is a unique event without a tie back to a bidder number. If you place a second maximum bid on top of an existing maximum bid, that action results in triggering your first bid aka. bidding against yourself. I have no plans to honor requests to delete earlier bids to enable higher maximum bids. This auction platform has been active for nearly two years with ample time for collectors to adapt and formulate bidding strategies.

 

Global Financial News

U.S. equity markets went for a thrill ride on Thursday as the initial morning market future optimism was crushed by a surprise negative GDP report. How can the analysts be wrong by that much? Optimism was quenched followed by markets trading flat until a late day buying surge appeared. Yes, I get it. A negative GDP report places pressure on the Federal Reserve to slow down interest rate hikes as the last thing the Fed Chair desires is to be known for is excessive tightening resulting in a deep recession.

Though spot gold has taken a spill to the $1900 level, we must view gold pricing in light of the U.S. dollar being at a 20 year high. The DXY index has reached nearly 104 as of yesterday with the following Seeking Alpha commentary that is worth a read.

The greenback is at its highest level in two decades, climbing another 1% on Thursday to just under 104 in the U.S. Dollar Index, marking its strongest level since 2002. The gauge measures the U.S. currency's strength against a basket of other developed world currencies, including the euro, yen, Canadian dollar and British pound. In fact, the greenback has advanced 7% since the beginning of the year, outpacing many assets from stocks and bonds to gold and bitcoin.

Commentary: "It's clearly a 'U.S. dollar is king' world," said Mingze Wu, a currency trader in Singapore at StoneX Group. "The dollar will continue to strengthen globally as long as rest of the world does not keep up in matching interest rate hikes." The greenback is also getting a haven bid along with Treasuries amid concerns about economic growth and a possible recession.

Speaking of growth, GDP in the U.S. shrank for the first time since the pandemic, contracting 1.4% in the first quarter (vs. +1.1% consensus and +6.9% in Q4). The surprise was exacerbated by a widening trade deficit reflecting supply chain problems, as well as lower private inventory investment and fading government stimulus spending. The Fed is still likely to raise rates by 50 basis points next week amid strong domestic demand, though Treasury Secretary Janet Yellen has warned of further "large negative shocks" that are "likely to continue to challenge the economy."

Growth vs. inflation: Strength in the dollar is also the result of weaker comparative currencies. The euro has been on the back foot due to the war in Ukraine, China's severe COVID restrictions have led to a weaker yuan and Japan's widening policy and trade gap has sent the yen into freefall this year. "We had two decades of the benefits of low inflation, but now central banks are trying to win back their inflation-fighting credibility," noted Jordan Rochester, foreign exchange strategist at Nomura. "But the ECB is facing stagflation and will struggle to keep with the Fed, and the BOJ isn't even coming to the party. With lower exposure to China, and lower exposure to Ukraine, the U.S. stands out as resilient."

We find spot gold quoting at $1918/oz to start the day. Personally, I'm still accumulating $20 Libs and Saints as part of a long term program with dollar cost averaging being the strategy. There is just too much economic and geopolitical risks these days to not have a physical wealth insurance policy.

Morning market futures indicate selling when the markets open at 9:30 AM.

In Asia, Japan closed. Hong Kong +4%. China +2.4%. India -0.8%.

In Europe, at midday, London +0.2%. Paris +0.6%. Frankfurt +0.8%.

WTI crude is back to $106/bbl while Bitcoin is stuck in a tight trading range at $39,178. The 10 Year U.S. Treasury yield stands at 2.9%.



Wrapping Up The Blog

I hope that you've enjoyed today's edition and have an inclination to make a purchase from the GFRC price list. Consider buying some gold...

Today brings an in and out office day as I do plan to start sweeping the driveway road sand while conditions remain windy. Otherwise, the black flies will attack with calm conditions and warmer temperatures. The cellphone will be in my pocket when not in the office.

Be well!

 

 

 

Thursday April 28, 2022

A Bare Bones Johnny 2 (JD2038R)

GFRC Buys Out The Washington State Collection Consignment

and

Eclectic Collection Auction Sale Bidding Countdown Arrives!

 

Greetings on cold and windy Thursday Raymond morning. How great it is to be back at the homestead!

The time is 6:00 AM with clear blue skies and hints of color in the front landscaping. Winds are howling over 20 mph with little movement in the leafless mighty oaks and maples. The flowering plums are beginning to show their crimson buds as a signal that May is approaching. Yesterday brought the first appearance of a red squirrel which is a reminder to get to Amazon and order a Gamo 0.17 air rifle to compliment my father's long barrel 0.22 pistol. I'd like to clear out the chipmunks and red squirrels quickly to avoid damage to our flower beds. Mainers typically do not plant flowers until the second half of May given the chance for a final frost event.

Yes, the wood stove is burning as the morning temp is a cool 35F.

Wednesday brought the filing of the barn permit application with the Town of Raymond. The process was straight forward given my visit with the code officer and understanding the full compliment of supporting documents. If all goes as indicated, the Fortins will be in a position to start the barn construction project by mid-May. In the meantime, more tree clearing and wood transfers to Kevin are in the works including another session after lunch today. Following is a baseline image of back acreage landscape with hints of color beginning to emerge. How I wish to hold this view of the horizon that stretches to the Maine coast through the summer months. However, summer leaves will block a portion unless more tree removal occurs. For new Blog readers, the immediate area to the right of the rock wall entrance is where the barn will be placed. The large brush pile will be burned this weekend along with the tall pine tree and adjacent maples being removed. Please feel free to click the image to access a higher resolution version.

 

Wednesday also brought a trip into Windham to retrieve several sold Liberty Seated dimes from the bank vault and a visit to Hall Implement to check on Johnny 2. While at Hall Implement, the following image of the new John Deere tractor was taken in the rain. Yes, this is a bare bones view of the 2038R without its self leveling front loader, third function hydraulics, and rear backhoe. The 220R loader has arrived while the 270B backhoe still scheduled for delivery in early June. I checked in with Bob Jackman, the iconic sales manager. He reported erratic spare parts supply shortages including oil filters and mower blades along with securing major implements.

Johnny 2 is an obvious step up in size and power as compared to the current JD2025R. Not evident from the image is that the rear fender is about 6" below my shoulder and I'm still 6'2". Note the special radial R4 turf tires as compared to the more aggressive R3 tires on the other 2038R on the right. Once the front loader and rear backhoe are mounted, this tractor will weight in at over 5000 lbs.

A Wet and Bare Bones Johnny 2 (JD2038R)

 

GFRC Buys Out The Washington State Collection Consignment

Wednesday brought a phone call from the Washington State collection consignor and a buyout offer request. This superb consignment is down to eight coins with the consignor wishing to convert funds into GFRC U.S. gold purchases. After sharpening my pencil and reviewing the last eight coins, an offer was made and accepted. As a result, those eight coins have been re-posted to the top of the 30 Day Price List with lowered offer prices. Most are CAC approved and gems that warrant potential attention.

Following are two important highlight among the eight discounted offerings. The 1837 B-2 Capped Bust quarter has seen a significant price reduction and is worthy of your attention if searching for a premium example for type.

Washington State Collection Buyout Highlights

1869 PCGS PR66RB CAC 2C                                                   1837 B-2 PCGS MS64 CAC 25C

    

 

Eclectic Collection Auction Sale Bidding Countdown Arrives!

After several weeks of anticipation, bidding for the upcoming Eclectic Collection Auction Sale opens in less than 72 hours.

This is one of the more substantial GFRC sales with reserves totaling $275,000! Obviously, the sale highlight is the Eclectic Liberty Seated Quarter Collection which includes rare dates, high grade gems, and a host of Top 25 Varieties for your consideration. Following are six lots that are way cool die varieties.

Eclectic Collection Liberty Seated Quarter Die Varieties

1840-O WD Large O PCGS VF25 CAC 25C                                   1842-O Small Date PCGS VF35 25C      

    

      1854-O Crumbled Obv PCGS EF45 CAC 25C                          1857 Smoking Liberty PCGS AU55 CAC 25C     

    

        1857 Flying Eagle Clash PCGS EF40 25C                                       1859 II/II PCGS MS64+ 25C                      

    

 

Global Financial News

Wednesday U.S equities trading saw the major indices closing with slight gains. For example the S&P 500 closed at 4,184 and up a small fraction. Today's morning market futures are forecasting a recovery day with the S&P up 2% and NASDAQ poised for even a stronger advance. Seeking Alpha reports that strong Meta (Facebook) earnings are the basis for the relief rally.

In Asia, Japan +1.8%. Hong Kong +1.7%. China +0.6%. India +1.2%.
In Europe, at midday, London +0.9%. Paris +1.5%. Frankfurt +1.4%.
Futures at 6:20, Dow +1.4%. S&P +2%. NASDAQ +2.6%.

The morning report also finds WTI crude back over the $100/bbl mark with a quote of $102.40. Spot gold has tanked this week and is currently quoting at $1891/oz. So much for the move above $2000. Bitcoin remains in its tight trading range at $39,613.

We find the 10 Year U.S. Treasury yield at 2.81%

 

Wrapping Up The Blog

Now that today's Blog edition is completed, I'm off to the shower followed by preparing shipping for Diane. Afterwards, a quick trip to Windham is necessary to secure pre-mixed chain saw fuel and a second diesel container plus a new kerosene five gallon plastic can.The kerosene will be used on Sunday to ignite the brush pile. A second diesel container is warranted as the Johnny 2 tank holds 8.5 gallons.

I will be back in the office after 3:00 PM and working on the next new purchases gallery for Friday's Blog edition.

Thank-you for stopping by.

 

 

 

Wednesday April 27, 2022

Buddy's Surprise Gift - We are So Touched by the Kindness

Diane's Mystery Animal - Porcupine or Fisher Cat?

and

Back to My Roots - More Liberty Seated Dimes to Consider

 

Greetings and welcome to the Daily Blog on a Wednesday morning. Are we having fun or what after yesterday's mystery animal video?

As you can imagine, the initial days at the homestead are screaming by. Tuesday's outgoing shipment totaled 18 packages as we cleared out the Florida to Maine transition backlog. There was a 1:00 PM meeting with Alex Siriox, Raymond Code Official, that went extremely well. The prepared barn permitting documentation was nearly complete with only a truss spec missing. Jeff at Hammond Lumber emailed that document within minutes of the request. Alex suggested that I file the permit application online and include all PDF files as attachments. He indicated a two week turnaround which is fantastic news. Once today's Blog edition is uploaded, the permit application will be assembled and transmitted.

Tuesday afternoon brought time in the office with the posting of a nice Seated dime lot for everyone's consideration. More on this topic shortly.

Maine weather will be cold and damp during the balance of the week which brings an opportunity to burn multi-year old firewood that is hanging out in the garage.

Later during Tuesday afternoon, an email appeared from Brenda Wyen with an attachment. The May Coin World monthly magazine features yours truly in the Editor's Q&A section. Here is the page for those who don't subscriber to Coin World. Please feel free to click on the below image to access a higher resolution and readable version. I'm thrilled that Jeff Starck captured in writing my early 2000 era vision that handheld electronics would enable die variety collectors to walk a bourse without heavy attribution books and the basis for never turning The Definitive Resource for Liberty Seated Dime Variety Collectors into a paper edition.

 

Buddy's Surprise Gift - We are So Touched by the Kindness

Tuesday also brought a most touching event. Diane and I wish to express our heart felt gratitude to the mystery community member who sent a lovely stuffed toy for Buddy the Dog. I was out back in the woods loading logs into Kevin's trailer when the delivery van came down the driveway with an unexpected box. Diane opened the box to find a large stuff toy with chipmunks hanging out in a tree log. The gift is perfect in all regards and incredibly thoughtful.

 

In the above image, one can see that Buddy's right rear leg is not touching the carpet. Buddy is a wonderful family member and not complaining. He is moving around on three legs and still protecting the house when hearing strange noises outdoors. For those who are curious, the LL Bean canvas bag, on the right, contains our shipment packaging materials.

Diane was able to secure a May 25 appointment with the same vet who reconstructed Buddy's left rear leg. She tried to convince the secretary to have the appointment be directly scheduled for surgery without an initial consultation as we've seen this movie before.

 

Diane's Mystery Animal - Porcupine or Fisher Cat?

Countless emails arrived throughout the day with aid identifying Diane's mystery animal. Nearly all responses were either a porcupine or a fisher cat. There were a few other suggestions including a beaver ground hog, and a bear cub.

My original thought was a fisher cat but very close inspection of the video brought a change of heart to a porcupine. Jim Macor also saw the same change of opinion as documented in this morning's early email.

Morning Gerry! I know you are up early like me and was thinking about that mystery animal again. You are probably writing the blog as I write this, so I am changing my answer before I turn in my test.

I know believe that mystery animal is the North American Porcupine! The coloration looks dark but the animal is in a shadow. The silhouette has that strange bump at the end of the back (now I believe laid down quills), and it is a slow moving animal. If it was a Fisher Cat, it would have been long gone hearing Diane approach through the trail.

Now, very interestingly, the Fisher Cat (my first answer) has a unique relationship with the Porcupine. It is the only natural predator to the Porcupine. Apparently, it has learned a method (and this seems to be passed on to the young), to bite the face of the Porcupine and roll it on it's back revealing the vulnerable underside. So, there is a connection to my wrong answer with what I now believe to be the correct answer!

Thanks Gerry for your wonderful blogs! I look forward to reading them!

Have a great day!

Jim

 

Eclectic Collection Auction Bidding Opens on Saturday

Just a quick reminder that the Eclectic Collection Auction Sale opens this Saturday at 9:00 PM. I sure that many in the community will be active bidders.

 

Back to My Roots - More Liberty Seated Dimes to Consider

Following is a solid Liberty Seated dime lot for your consideration. This group contains both new purchases and releases from my reference collection. Let's quickly walk through the gallery.

The 1839 F-104a is from the Col. EHR Green/Eric P Newman Sale. It was the only piece purchased at the 2013 Heritage event as I always wished to own an example of the very cool and rare F-104b die state with huge die crack from star 2 down through the shield and across the 3 digit. The 1845-O presents the last "affordable" grade as only two AU50s and a single AU55 (gold CAC in my personal collection). The 1864-S dime warrants attention as there are few survivors this choice in AU. The 1884-S is rare in Mint State and has already sold.

Look for the balance of these new offerings to post to the 30 Day Price List by early afternoon.

More Liberty Seated Dimes to Consider

   1839 F-104b NGC MS65 10C                                                   1845-O F-101 PCGS EF45 CAC 10C

    

      1864-S F-101 PCGS AU53 10C                                               1884-S F-102 NGC MS63 CAC 10C   

    

1838 F-104 PCGS AU55 CAC 10C         1839-O F-101 PCGS VF35 CAC 10C                 1861-S F-101 NGC VF20 10C   

            

1878 F-109 PCGS MS62 CAC OGH 10C           1887-S F-117 PCGS MS63 10C        

       

 

Global Financial News

Tuesday brought a wide spread sell-off for U.S. equities with the NASDAQ being hardest hit and down over 3.5%. Currently, the S&P 500 stands at 4,175 and is close to testing earlier 2022 lows. What is going on? Everyone appears focused on Elon Musk's buyout of Twitter with the legacy media in melt down over the thought that Musk might quietly censor left leaning opinions. I find this so ironic that some on the opposite side of the political spectrum equate democracy with censorship of "dangerous" opinions after experiencing this very fact for six years in mainland China.

My gut feeling is that the word "nuclear" is being uttered too often by Zelensky, Defense Secretary Lloyd Austin, and Putin staff. As NATO continues to provide the Ukrainians with more sophisticated weapons and media war analysts indicating that the current conflict is an opportunity to destroy the Russian army for years, a box is closing around Putin. At some point, a caged animal may strike back. Just try to put yourself in Putin's head and think through his dilemma. Usage of a tactical nuclear weapon in Ukraine would send Western equity markets into a tailspin, more accurate, a full fledged investor panic. Late last week, I had this very conversation with my financial wealth manager and he completely dismissed the possibility and the thought of being more defensive with our account.

The Seeking Alpha staff are late with their Wall Street Breakfast posting and probably struggling with how to discuss yesterday's market drop. They cannot be as direct as I am in the Blog. It is 8:00 AM and I'm hitting the upload button as need to get the day started.

 

Wrapping Up The Blog

This has been a long Blog edition and time to move forward with another day. Once the barn permit application is uploaded and issued to Raymond Town Hall, I will be heading into Windham and the bank box that houses the core Liberty Seated dime collection. There are two sold coins in that box that must be retrieve and shipped to patient clients. I will also use the opportunity to visit Hall Implement and check on Johnny2 which should be quietly sitting in their yard.

Afternoon brings more image processing and hopefully another new purchases gallery display. Life is a continuum, isn't it?

Thanks again for the visit. Be well.

 

 

 

Tuesday April 26, 2022

Eclectic Collection Auction Bidding Opens on Saturday

A New Purchases Stockpile

and

What is this Animal?

 

 

Greetings once again from the Raymond GFRC office and welcome to the Daily Blog. Thank-you for checking in on a Tuesday.

Today's Blog edition will be fast paced as there are a host of things to get done during the waking hours. The shipping queue is stacked with at sixteen packages for Diane to prepare. Kevin Johnson (Diane former paint store partner) arrives at 10:00 AM for a trailer load of 8' logs. At 1:00 PM, I meet with the Raymond Code Enforcement officer for a barn permitting review to ensure the application is successful on the first try. I'm sure you get the point on how busy the day will be.

I am absolutely thrilled with the news that Elon Musk has purchased Twitter. There is hope for universal free speech regardless of party affiliation in our country. Enough said.

There was much feedback concerning yesterday's Blog and the east coast travel report. Others in the community have experienced the same driving conditions with an obvious increase in risky behaviors on the open roads. U.S. traffic fatalities are climbing which correlates with high risk driving behaviors and lack of enforcement. Makes sense doesn't it? Our U.S. Transportation cabinet head is looking for increased automobile automation as the solution. How many times do we need to redesigned our systems to solve a driver compliance with common sense issue? Again enough said.

I'm certain that many of you are waiting for the next wave of GFRC new offerings. This will be discussed shortly. But first, there is a substantial GFRC Online Auction that arrives on Saturday.

 

Eclectic Collection Auction Bidding Opens on Saturday

That is right! Saturday brings the long awaiting initial bidding for a host of fantastic lots in the Eclectic Collection Liberty Seated Quarter and Other Numismatic Properties Sale.

The online auction catalog is fully populated with descriptions and reserves along with a downloadable PDF catalog. All the components for your bidding decision and strategy are in place. This auction presents a treasure trove of premium lots for the passionate Liberty Seated collectors in our community.

Here are six lots that warrant a shout out as a reminder of the overall auction scope and quality.

 

Eclectic Collection Auction Sale - Notable Offerings

      1868 F-107a NGC MS64 CAC 10C                                      1840 Drapery PCGS MS63 Gold CAC 25C

    

1869 PCGS MS64 CAC 25C                                                           1871-CC NGC F15 25C     

    

        1849 DDD WB-6 NGC MS64 50C                                       1873-CC WB-8 R7 NGC AU58 CAC 50C   

    

 

A New Purchases Stockpile (and Consignment Wave Arriving)

The GFRC business model is proving to be a resounding success. Each day brings more new customers via word of mouth recommendations. I could not be more pleased. Of course, the ongoing challenge is maintaining a steady flow of new offerings to the 30 Day Price List to keep all clients satisfied and frequently checking the website.

As of this morning, the following image captures the new purchases that are queue for price list posting. This backlog is substantial along with at least four incremental consignments and other new purchases that will be arriving this week. Included in this image are 40 pieces that just returned from a trip to Far Hills NJ after CAC review.

 

 

What is this Animal?

Monday's first activity, after posting the Blog, was a visit to the back acreage trails to assess their status after a long winter. I'm pleased to report that all graveled sections held up well with no erosions or signs of washout. That is the good news.

The bad news is that several sections of the ungraveled trails need work for a smooth health walk experience. There are three wet sections at the top most portion of the back acreage that need a foot of 1.5" stone to allow downhill water flow drainage. The worst situation is at the trail section directly above the natural spring. When Dave Wilkinson and I cut that section during dry summer conditions, we did not realize that a depression was left with the left and right banks being higher than the trail. This 20' section is a small pond and impassable. The issue can be solved by digging a good sized drainage ditch and adding a substantial amount of 1.5" stone to facilitated water flow and drainage. When Dave arrives with his excavator for the barn site preparations, we will take the excavator down into that area and install a robust solution.

Diane is loving the trails regardless of several wet spots and plans to walk daily. Monday brought her first walk and an interesting iPhone video capture of an unidentified animal. Diane reported that the animal just looked at her and climbed the tree in her presence. We need your help to view the video and provide ideas on what this animal might be. Just click on the below image to launch Diane's video.

 

Global Financial News

U.S. equity markets are hanging in there in the face of pending Federal Reserve actions to slow down the economy and inflation. How I am watching with interest as government agencies react to symptoms after causing the core issues.

Over in China, some of the Shanghai citizens are being herded like animals with fencing installed around housing complexes where Covid cases have emerged. Those areas are labeled "sealed areas" or "hard quarantined" The Covid outbreak has also appeared in Beijing. Can you image the challenge of controlling the movement of millions of people in those two massive cities? Watching videos emerging from Shanghai reminds me for the age old saying, as you sow, so shall you reap....

The day starts with the S&P at 4,296 while the DJIA is at 34,049. Morning market futures are pointing to an initial downward bias.

In Asia, Japan +0.4%. Hong Kong +0.3%. China -1.4%. India +1.4%.

In Europe, at midday, London +0.9%. Paris +1%. Frankfurt +1.2%.

Futures at 6:20, Dow -0.3%. S&P -0.3%. NASDAQ -0.3%.

WTI crude has pulled back a tad to $98/bbl along with spot gold dropping to $1906/oz. Bitcoin continues to trade between $38,500 to $41,000.

The 10 Year U.S. Treasury yield has pulled back to 2.78%.

 

Wrapping Up The Blog

With so much on my plate before the 1:00 PM meeting at Raymond Town Hall, let's wrap up the Blog at this point.

I'm heading to the shower followed by printing shipping labels for another 7-8 packages. The balance were already prepared last evening.

Thanks for being part of the GFRC community and visiting the Daily Blog on a regular basis.

Be well!

 

 

Monday April 25, 2022

GFRC Maine Office is Open! Sort Of....

 

Greetings from the Raymond, Maine homestead and welcome to the Daily Blog. It is great to be home!

Though the front yard landscape is barren and the driveway is covered with road sand, I'm still loving the feeling of being home and blogging from the Maine office.

As if the two day drive across 13 states and 1560 miles was not enough to tire a person out, today brings the rebuilding of the GFRC office and opening for business. The journey brought a host of observations and one most unfortunate event that will take months to repair. Following are those observations and news from the Fortin's weekend drive along the U.S. east coast.

- South Carolina continues to win the award for the most miserable driving state. The antiquated two lane road results in a 10+ mile backup in modern roadway Georgia before crossing the border. Once crossing the bridge into SC, accordion traffic lasted for much of the 86 miles to I-26 intersection. When driving through an exit/entrance on I-95, the roadway and traffic volume is unable to accommodate the on ramp traffic without backing up for several miles. Yes, Spring 2022 exodus from Florida is the root cause with RVs and snowbirds heading north.

- Once through South Carolina, the balance of the Saturday drive went smoothly across North Carolina and Virginia. We stopped somewhere in Virginia for sleep and then a truly sad event occurred. Buddy the Dog attempted to jump on Diane's bed and destroyed the ACL in his back right leg. Once again, Buddy is a three legged dog. This past summer, his left rear leg ACL was repaired with a steel hinge. Today, Diane will be heading to the Raymond vet for pain killers and promptly making an appointment with the surgeon who repaired his left leg. As you can imagine, Diane and I were first in shock believing that the injured leg was the repaired leg and potentially having to put Buddy down. Once our emotions calmed down, we realized that Buddy had wrecked his other rear ACL which is repairable. During the balance of the trip, Buddy was carried by Diane to open grass for his bio breaks.

- Young people texting while driving is a chronic issue on roadways. Not matter how many electronic billboards are advising drivers to put their cellphone downs, young adults are driving while reading their cellphones, or worst attempting to type. I saw this countless times as I was forced to pass drivers on the right and was able to look down into their vehicles from the higher Acura MDX ride. These people are simply idiots and totally irresponsible.

- Reckless driving in NJ, NY, and CT was at a level never seen before. We've grown accustomed to this type of driving on I-75 in the Florida Ocala strip and are prepared. We were not prepared for 100+ mph cars weaving through packed three lane highways. A pair of young adults on motorcycles passed me on the right and darted in front of me with less than a car length of space. Diane and I were in shock as if being part of a Disney thrill ride. High performance cars plus young people who believe they are part of a video game is my guess for this behavior.

- There were no state troopers on the highways. Even heavily patrolled Virginia lacked state troopers. As a result, travel speeds are increasing in the passing lane to 80-85 mph being the new normal.

- Finally, the number of Tesla cars on the road has grown dramatically. Once reaching Virginia, the Tesla density began to increase. In New Jersey, there was constant sightings of Tesla Model S and Model 3s everywhere that continues throughout New York.

- Our driving weather was excellent with bright sunshine during both days. We arrived to the homestead at about 7:30 PM after a quick stop at Hannafords for some interim groceries to hold us over through today. Winter tree damage is minimal though the driveway continues to degrade from frost heaves. Tearing up and removing the current asphalt plus buried rocks followed by rebuilding the gravel base, and repaving is a planned 2023 project.

 

GFRC Maine Office is Open!

Yes, the GFRC office is officially open while I unpack inventory and start invoicing weekend Collectors Corner orders.

A move of this magnitude can sometimes feel daunting between re-opening business operations and seeing the amount of spring landscape clean-up that awaits me. Compounding the strain is tomorrow's meeting with the Raymond Code Enforcement officer to kick start the barn permitting process. Diane will be attempting to secure an appointment today with our Raymond vet for pain killers for Buddy the Dog.

 

Wrapping Up The Blog

Let's skip the Global Financial News segment as equity markets continue to be falling due to Federal Reserve interest rate increases to combat inflation. Over in Shanghai, the China Communist Party is beginning to lock residents in their apartment/condo complexes as Omicron is proving to be unstoppable. The death rate is climbing. Most other major Chinese cities are in some type of lock down.

There is little positive news on the horizon to fuel positive investment sentiment.

There is much to get done today. My first step is get a warm shower followed by unpacking inventory and reconnecting batteries to vehicles and the JD2025R. Hopefully, all will start without issues.

Thank-you for checking in at the Blog.

 

 

 

Thursday April 21, 2022

The Eclectic Collection Auction Sale PDF Catalog Arrives!

and

GFRC Office is Closed April 22 Through April 24

 

Greetings and welcome to the Daily Blog on a Thursday morning. Thank-you for stopping by.

Today's Blog edition is the last to be published for a few days. With a robust GFRC business and a host of clients, consignors, and regular customers to service, I've been working non-stop for weeks without a day off. Starting today, I plan to slow the pace and ease into the Maine transition packing duties.

After publishing Tuesday's Blog edition, I took a hard look at the Hammond Lumber drawings that illustrated the completed barn project. One obvious issue captured my attention and was corrected by end of day. What is the issue you might ask?

Maine winter weather can be unpredictable with snow and ice storms bringing snow loads to roof tops. I looked at the proposed 5/12 roof pitch with 2x4 truss construction and realized that this approach was marginal. There is no one at the homestead during the winter months to shovel the roof too in the event of excessive snow storms. After an hour of online reviews for roof truss designs and construction materials, it became obvious that a sharper pitched roof would be a better solution along with heftier 2x6 construction. By noon time, a request was issued to Jeff at Hammond Lumber to re-quote the barn with a 8/12 roof pitch and attic trusses with 2x6 members. The approach will raise the roof height by 3 feet and facilitate an above ceiling storage area that can be accessed with stairs. Now I feel better with the overall design....

 

The Eclectic Collection Auction Sale PDF Catalog Arrives!

With the Maine transition being just a few days away, the generation of the Eclectic Collection Auction Sale PDF catalog remained as the last major project to complete towards gaining peace of mind. As today's Blog is being composed, there is a huge sigh of relief. Can you believe that I arose at 3:00 AM to complete and debug the Eclectic Collection Auction Sale PDF catalog? That I did! At 3:00 AM, the condo is absolutely quiet with only the distance noise from I-75 traffic to keep me company. The quiet time, with no incoming emails or text messages, brought closure to the final Venice office deliverable.

Today's GFRC Online Auction catalog is the largest to date and features a host of premium Liberty Seated coinage offerings. Now is not the time to walk through this PDF catalog. Rather, I will be showcasing a steady flow of highlights via the Daily Blog during the coming week prior to bidding opening on April 30.

Please feel free to click on the below auction cover to download a marvelous catalog with the Eclectic Liberty Seated Quarter Collection as the center piece and being surrounded by Liberty Seated dime and half dollar offerings from the Gerry Fortin Reference Collection, the Saw Mill Collection, and the Oregon Beaver Collection as the other primary consignors. I believe you will enjoy the read.

 

Now that the catalog is posted, I can relax for a hour before shifting attention to organizing and packing the GFRC office.....Whew!

 

GFRC Office is Closed April 22 Thru April 24

This is fair warning that the GFRC office will be closed starting Friday morning and through Sunday evening.

What does a closed GFRC office really mean? Firstly, there will be no shipping. Secondly, a break is being taken with respect to the Daily Blog for three days. Finally, the response time to new orders will be protracted as I will not be sitting in front of the laptop for hours on end.

The GFRC office will open on Monday April 25 on a limited basis. Once back in at the Maine homestead, the northern GFRC office will be brought online with a late Daily Blog edition followed by unpacking inventory. Shipments will restart on Tuesday April 26.

 

Global Financial News

U.S. equity markets were mixed on Wednesday. The DJIA reflected economic optimism while the NASDAQ took a hit due to Netflix dropping 35% in a single day. Facebook also dropped as investors are losing confidence in that platform's ability to increase subscribers and advertising revenues.

Today's morning market futures are sharply positive with robust buying forecasted at 9:30 AM.

In Asia, Japan +1.23%. Hong Kong -1.25%. China -2.26%. India +1.58%.

In Europe, at midday, London -0.02%. Paris +1.45%. Frankfurt +1.18%.

Futures at 6:20, Dow +0.58%. S&P +0.77%. NASDAQ +1.07%.

WTI crude is idling along at $103/bbl while spot gold has lots its momentum for a run at the $2000 level. This morning's trading is being conducted at $1947/oz. We find Bitcoin at $41,788.

The 10 Year U.S. Treasury yield has dropped ever so slightly to 2.87%.

 

Wrapping Up The Blog

There is little else to be shared at this point. Yes, I will be monitoring emails during the next four days and responding when possible. Again, order shipments will restart from the Maine office on Tuesday.

Please be well during the coming days. I will see you on Monday morning with a warm stove burning in the background while overlooking a barren landscape in the front yard.

 

 

 

Wednesday April 20, 2022

The Barn Project...

Final GFRC New Purchases Gallery From Venice Office

and

Building the Eclectic Collection Auction Sale PDF Catalog

 

Greetings on a Wednesday and welcome to another Daily Blog edition. Your ongoing visits are appreciated.

The impending Maine transition grows more substantial by the day. Moving a vibrant coin business 1600 miles certainly requires careful and diligent planning. The motto no coin left behind is applicable but does not communicate the complete story.

The GFRC brand name has become synonymous with service. Collectors enjoy their GFRC trading experiences due to rapid communication and quick shipments. For example, overnight orders were responded to by 5:30 AM today followed by breakfast and composing the Blog. The Maine transition requires a careful study of how our service levels are enable followed by taking steps for a rapid restart of operation come Monday April 25.

Just yesterday, all pending consignment and new purchase were 100% photographed as the forthcoming Maine weather does not look optimum for outdoor photography. Cloudy conditions and rain will be the rule with day time highs only in the mid 50s. A substantial USPS order for padded Priority and Express mailers was placed for Maine office delivery. Let's not forget that the change in GFRC shipping procedures took place while in Florida after two gold coins were stolen in the USPS system during Q4'2021. The Maine office must be retooled with the right shipping supplies including transporting some initial start-up supplies from Florida.

By end of today, all pending consignments will be entered into the COIN system and each TPG holder tagged for easy unpacking. A new consignment wave will start arriving to the Maine office next week, therefore the existing backlog must be properly identified and placed at the top of the processing queue.

A large CAC shipment that was mailed on April 7 will most likely not be ready in time for return to the Florida office. If not shipped today, the 40 piece lot will need to be redirected to the Maine office. This is yet another worry that the CAC staff properly makes a change to the shipping address.

If not busy enough, initial discussions have begin with a new client for the next GFRC Online Auctions event.

Come Friday morning, the GFRC office will be in a hard shutdown. I will not be responding to those last minute special requests that typical start with I know that you are very busy but can you do me a special favor..... Sorry, I will not be responding to those requests for heroic service. The time has come to take a service break and focus on careful packing and closing down the Florida condo.

The will be no Daily Blog published from April 22 through April 24 as a mental break is necessary. Replies to Collectors Corner and regular price list orders will be delayed. The Fortins need some down time to facilitate safe passage to our Maine home. Your understanding would be greatly appreciated.

 

The Barn Project....

Yesterday brought a call to Raymond town offices and the setting of an April 26 appointment with the code enforcement officer. A completed permit application and supporting documentation will be brought to the meeting for the officer's review. The wheels of government turn slowly and the last thing I want to learn is that the permitting process is delayed due to missing documentation.

Dave Wilkinson and I are planning to meet at some point next week to walk the back acreage and discuss several projects for his trusty excavator. The site preparation efforts should not be underestimated as more trees must be cleared followed by a substantial brush burning session before we start digging and moving dirt. Since the homestead property slopes downhill, a level 40'x46' land plot must be constructed before digging trenches for cement footings. Locating sufficient fill to level out a building spot will need careful thought.

 

Final GFRC New Purchases Gallery From Venice Office

The final new purchases gallery from the Venice office contains some most notable offerings.

Opening the display is a condition census 1853-O No Arrows Liberty Seated half dime graded NGC AU50 with CAC approval. There are only five finer with CAC approval. The next best AU55 is tied up in strong hands leaving only four Mint States examples ($20,000+) as possibilities for those that wish to own a top end specimen of this key date.

The gorgeous 1866 3CN is already sold to a long time GFRC client who acted quickly. The 1880 F-101 dime is the web-book plate coin and found in a long gone numismatic holder. Yes, this one is still in an original PCI holder and accurately graded. Gem 1883 and 1883 Seated dimes follow, also web-book plate coins. A pricing request has appeared for the superb 1908 Barber half while composing the Blog. Finally, the 1907 G$2.5 is a stunning gem with incredible luster. Eye appeal is of a much higher grade.

I will do my best to get some these pieces posted to the price list today along with the Buffalo herd that was illustrated in Tuesday's Blog. Descriptions will be on the brief side considering the next major GFRC Online Auctions task. Please read on.

 

Final GFRC New Purchases Gallery From Venice Office

1853-O No Arrows NGC AU50 CAC H10C Fatty

1866 NGC MS63 3CN                                                            1831 LM-6 NGC MS64 H10C

    

1880 F-101 PCI PR63 10C                                                         1883 F-118 NGC MS65 10C

    

1884 F-107 NGC MS65 10C                                                    1908 PCGS MS63 CAC 50C  

    

1907 PCGS MS64 CAC G$2.5 Rattler                                             1912 PCGS MS62 CAC G$2.5       

    

 

Building the Eclectic Collection Auction Sale PDF Catalog

If not busy enough, today's major task is constructing the PDF catalog for the Eclectic Collection Liberty Seated Quarter and Other Numismatic Properties auction sale.

At this point, the Eclectic Collection auction event offerings are frozen with all descriptions and reserve prices posted. Bidding opens on April 30 at 9:00 PM.

 

Global Financial News

U.S. equity market volatility continues on Tuesday with the closing bell ringing gains for the day. We find the S&P 500 at 4,462 to start the day and continuing to hold that all important 4,400 level touted by the Elliot Wave followers.

Putin has launched the highly anticipated assault on the Ukrainian Donbas region with the coming two weeks being critical for how the war will fair. Equity markets are searching for direction with some type of conclusion to the Russia-Ukraine war being necessary.

Over in Shanghai, Covid lock downs continues with the outbreak death toll at 17 people. The new Tesla factory has been closed for three weeks.

Morning market futures are pointing to a flat open for U.S. equities.

In Asia, Japan +0.86%. Hong Kong -0.40%. China -1.35%. India +1.10%.
In Europe, at midday, London +0.37%. Paris +1.19%. Frankfurt +0.86%.
Futures at 6:20, Dow -0.01%. S&P -0.10%. NASDAQ -0.22%.

After making a run at the $2000/oz mark, spot gold has retreated and starts the day at $1951. WTI crude remains above the $100 mark with a morning quote of $103/bbl. A Bitcoin can be had for $41,566.

The 10 Year U.S. Treasury yield again stands at 2.9%.

 

Wrapping Up The Blog

There is nothing else to share at that point and time for a morning health walk.

Yes, I will be in the office the entire day busy as a beaver.....

Be well!

 

 

 

Tuesday April 19, 2022

Is It True, a Herd of Buffaloes at GFRC?

and

GFRC is NOT Attending The Central States Show

 

Greetings and welcome to the Daily Blog on a Tuesday morning. I'm glad that you stopped by for another round of ramblings.

What's new?

Progress is being made with the forthcoming Raymond homestead barn project. We've selected Hammond Lumber in Auburn, Maine as the building material supplier. The "barn" is essentially a customized 24x24 standard garage kit that has increased in size (24x30) and height (11'). This fact was previously mentioned in the Blog. Yesterday brought the arrival of the first round drawings for submission with the building permit application. The structure will be constructed on a footing along with concrete slab. As I am learning, the footing is the most critical portion of the project as it will support the building walls. Digging out the site and installing panels for pouring the cement footing will take addition investigation once back in Maine.

Today brings a call to the Town of Raymond office for an appointment to meet with the code enforcement officer and submission of the building permit documentation. The turnaround time is four weeks thus the need to have all documents in proper order.

Back in Venice, the GFRC office is as busy as ever with another morning of heavy shipping and the return of a lower priced consignment lot. Unfortunately, I'm no long in a position to take on a follow-on consignment with a substantial number of sub $250 coins. It was mutually agreed to stop the consignment relationship.

Looking into next week's extended Raymond, Maine weather forecast, the findings are not promising. Clouds and rain arrive for much of the week with daily highs only in the mid 50s. The cloudy and wet weather looks to be continuing into early May. Diane will be thoroughly miserable after losing access to the warm 80s here in Venice. The wood-stove must be cleaned and promptly place into operation upon our arrival.

As a proactive step, I will be photographing all pending new purchases and consignments while still in Venice. Who knows when we will see bright sunshine during Maine spring time? Having a library of images will allow GFRC to continue new purchases posting to the price list regardless of poor Maine photography conditions.

Tomorrow begins the beginning of the GFRC office packing process with the office closed on Friday October 22 through Sunday October 24.

Today brings the final day of regular office operations and the posting of as many new purchases as possible to the price list. Wednesday brings a transition day with shipping followed by organizing inventory, new purchases and consignments for unpacking in the Maine office. Seth Godin provides some timely wisdom to consider.

Seth Godin Blogpost - Coiling ropes

Professionals put things away slowly so that they’ll be ready quickly when needed.

Investing time now for time later.

 

A Herd of Buffaloes at GFRC?

I was most serious when mentioning that GFRC is expanding its product lines both horizontally and vertically. Today's new purchases gallery illustrates this fact with the arrival of a small herd of Buffalo nickels with most being CAC approved. Following are accurate images of the pending offerings. I'm finding that photographing nickels to be so straightforward as compared to copper and certain silver pieces.

 

Is It True, a Herd of Buffaloes at GFRC?

1917-D NGC AU58 CAC 5C Fatty                                                1929-S PCGS MS65 CAC 5C    

    

 1913 Type 1 NGC MS64 5C                         1916 PCGS MS64 CAC 5C                         1927 PCGS MS62 CAC 5C   

            

 

GFRC is NOT Attending The Central States Show

I've received several emails from customers wishing to confirm that I am attending the Central States coin show during the last week of April.

I was surprised by this fact and went to the CSNS website to see what was going on. There it is; GFRC is listed as being present at Table 1011.

How did this happen? In past years, David Perkins and I would share a corner booth at the Central States show. It appears that David must have submitted the show application with GFRC as a sharing dealer before confirming with me.

To be clear, GFRC is not attending the Central States coin show as there is too much on my plate with the forthcoming homestead activities.

 

Global Financial News

Another U.S. trading day arrives with more negativity. The major indices managed to trim loses by the end of Monday's close. However, today's morning market futures are again negative.

Mortgage rates are moving up and are about to cross the 5% threshold which will slow down the red hot housing market. Tepid forward guidance during Q1 earnings reports are also expected to lead to continued volatility during the next 30 days or so.

In Asia, Japan +0.56%. Hong Kong -2.28%. China -0.05%. India +0.08%.

In Europe, at midday, London -0.52%. Paris -1.18%. Frankfurt -0.96%.

Futures at 6:20, Dow -0.15%. S&P -0.25%. NASDAQ -0.46%.

WTI crude continues it recent price recovery at $106/bbl and may be above the $100 mark for the foreseeable future.

Spot gold also continues to hold its recent gains and starts the day at $1980. Bitcoin has moved back to $40,697.

The 10 Year U.S. Treasury yield is flat at 2.9%.

 

Wrapping Up The Blog

There is little else to share at this point, therefore best to close and secure one of the last remaining health walks in Florida before being subjected to the cold Maine climate.

Thanks for stopping by at the Blog. Be well.

 

 

 

Monday April 18, 2022

Osprey Collection New Purchases to Consider

and

Eclectic Collection Liberty Seated Quarter Auction Sale Catalog is Populated

 

Greetings on a Monday morning and welcome to the Daily Blog. Our final week in Florida has arrived.

I hope that everyone enjoyed their Easter weekend. Diane and I spent a quiet two days at the condo and began the process of slowly packing for the summer and fall months in Maine.

Consistent with the forthcoming return to Maine, the GFRC mailing address has been updated across the website and on Collectors Corner. All check payments and new consignment shipments must be sent to the Maine address.

GFRC

225 Valley Rd.

Raymond, Maine 04051-6163

Consignments should be shipped for arrival after April 24th. Presently, I am aware of three consignment shipments that are pending the Maine transition.

What is the present state of the U.S. coin market? Robust best describes the ongoing rejuvenation of collector demand for premium coins. Prices, in most cases, continue to increase making for a good news, bad news scenario for collectors. The good news is that duplicates and long term holdings are worth more. The bad news is that new acquisitions are steadily rising in price. Welcome to an inflationary cycle where the cost of most goods is rising and the value of the U.S. dollar is shrinking.

One of the issues during an inflationary cycle is the fact that historical comparison data is rendered meaningless. For example, the ` website value of our Maine home has jumped by 8% in the last 30 days. Where did that number come from? Were there active sales comparisons in the Sebago Lakes region or is Zillow using a standard algorithm?

The same is true for the coin market. Collectors and dealers are struggling to locate the levels where coins should be bought and sold. Past CoinFacts records are becoming more obsolete by the day. As an active dealer, all I can do is trust my gut feel for the current market and price coins accordingly. Sometimes, those prices are too inexpensive with multiple orders. Other times, the crickets arrive for newly posted coins.

The reserve setting process for the Eclectic Collection Auction Sale has been particularly challenging. I've done my best to set the reserves at what is believed to be a "fair" level. Some might see the reserves as excessive. Believe me, they are not and are indicative of where we are headed for the balance of 2022. Inflation is here in a big way with physical assets that possess an investment value being in demand. Truly rare coins have more room to run as the U.S. dollar shrinks.

 

Osprey Collection New Purchases to Consider

The past 48 hours has brought the photography of another 30 or so new purchases to prime the pump for this week's new offerings. Maintaining a constant flow of new offerings on the 30 Day Price List continues to be the imperative.

Following are six important Osprey Collection new purchases while at the Whitman Baltimore show. Yes, my buddy Dan is buying gem Liberty Seated dimes on his own and has done well! The 1845 F-105a is a gorgeous piece in new large font NGC holder. Look at the strike along with the thick frosted luster. Ditto for the 1853 Hubbed Arrows and Date dime in an NGC MS65+ holder with CAC approval.

What gives with the increasing number of NGC holdered coins on the GFRC website? For those who are not active PCGS submitters, you may not be aware that PCGS has lost its operational way with turnaround times of 3+ months. Dealers can't wait for three months to have coins graded along with shipment times that are also erratic. As a result of PCGS's difficulties, NGC is seeing much more demand and doing a decent job with grading. Given my philosophy of buy the coin and not the holder/label, I will continue to add premium coins to price list regardless of PCGS or NGC grading.

Let's get back to Dan's new gold offerings. The 1843 Dahlonega $2.5 gold piece warrants attention for its rarity and higher grade. Next is an 1893 half eagle with gold CAC bean. The rose-gold coloration and uniform luster are ideal for inclusion in a type set or whatever reason there might be for acquisition. We wrap up the display with an important 1893-CC $10 with CAC approval and a 1902-S $10 that is a gem.

 

Osprey Collection New Purchases to Consider

      1845 F-105a NGC MS65 10C                                               1853 Arrows NGC MS65+ CAC 10C

    

          1843-D NGC AU55 G$2.5                                                1893 PCGS MS63 Gold CAC G$5 OGH

    

1893-CC NGC AU53 CAC G$10                                                 1902-S NGC MS64+ CAC G$10   

    

 

 

Eclectic Collection Liberty Seated Quarter Auction Sale Catalog is Populated

I could not be more pleased (and relieved) that the Eclectic Collection Auction Sale online catalog is close to completion.

Sunday brought the approval of GFRC's reserve pricing recommendations along with some awesome descriptions from Len Augsburger. If having time to spend on the catalog, I suggest that you read each of Len's descriptions and enjoy the careful review (at the Whitman Baltimore show display) along with his historical content for the most important lots.

As of this morning, the auction's reserve prices total nearly $275,000 making this a substantial event with a host of premium offerings. Here are four marquee lots that warrant serious attention.

 

Eclectic Collection Liberty Seated Quarter Auction Sale Highlights

1840 Drapery PCGS MS63 Gold CAC 25C                                               1871-CC NGC F15 25C                 

    

1875-CC PCGS MS63 CAC 25C                                               1876-CC PCGS MS66 CAC 25C 

    

 

Len's description for the 1871-CC quarter is particularly compelling since he is most familiar with this piece.

Choice Original, Eclectic Collection This piece is an “old friend,” first exhibited to this cataloger over twenty years ago, shortly after being acquired by the Classic Silver collector. This prescient numismatist purchased the coin out of the Heritage January 2001 sale (lot 6904) for $4,140, and it is safe to say that it will sell for a considerably higher amount in the present sale. Apart from the price, the numismatic market has changed considerably since this piece last changed hands. While rarity never goes out of style, today’s emphasis on originality and eye appeal is stronger than in previous years, and it is to the collector’s credit that he valued aesthetic appeal more strongly than technical detail. The market for Carson City material has also evolved, with Rusty Goe’s works in particular drawing attention to this challenging series. As a result, demand for the choicest Carson City pieces has exploded, and GFRC is especially pleased to present this premium quality 1871-CC quarter.

This example exhibits even coin gray toning, with light dirt neatly outlining the figure of Liberty. Similar deep slate patina resides in the protected areas, precisely where one would expect on an original piece, throughout the stars, date, legend, and feathers. Fields are smooth for the grade, nicer than usually seen for a Carson City piece, which is typically found with rough surfaces. Marks are minimal, and best summarized by the Heritage cataloger, who noted “no mentionable abrasions.” This coin would be an attractive example regardless of the date, and, for a Carson City issue, becomes even more so.

The 1871-CC quarter stands neck and neck with the 1870-CC for rarity, with the mintage figures separated by only a couple thousand pieces. A better picture emerges when considering auction appearances. Over the last five years the major auction houses have offered 1870-CC quarters a total of 16 times, while the 1871-CC quarter has appeared on only 11 occasions. Quarter collectors will discard many of these appearances quickly – the coin offered might not be in the right grade range or might exhibit any number of aesthetic issues. Problem-free, collector grade examples such as the present coin emerge rarely, and one must strike when the opportunity occurs. This piece was carefully selected by an astute specialist of the series and held for a long period of time until an upgraded example was privately made available. This special coin is now available to the GFRC community and will no doubt draw considerable attention in the current sale. Housed in NGC Gen 7 (1997-2000) holder.

 

Global Financial News

U.S. equity markets are starting the week on a negative note with not a whole lot to cheer about. Between inflation risks, a shrinking workforce, and geopolitical risk in Europe, positive investor sentiment is a rare commodity.

Spot gold is reflective of the negative equity sentiment and making a run at the $2000/oz mark as the Blog is being composed. Gold's strength must be viewed in light of the US dollar index (DXY) which currently stands at 100.58. It is common knowledge that a weak dollar is bullish for gold while a strong dollar and high interest rates are bearish. That common wisdom is out the door as other factors are driving gold's move to the $2000 level.

Following are morning market futures:

In Asia, Japan -1.1%. Hong Kong closed. China -0.49%. India -2.15%.
In Europe, at midday, London closed. Paris closed. Frankfurt closed.
Futures at 6:20, Dow -0.22%. S&P -0.40%. NASDAQ -0.53%.

WTI crude oil pricing is back to $106/bbl. Bitcoin dropped during Easter weekend to $38,904. Are we seeing a rotation from digital crypto assets to physical assets like gold and silver?

The 10 Year U.S. Treasury yield is quoting at 2.9%.

 

Wrapping Up The Blog

That should do it for today with respect to new GFRC news.

I will be in the office the entire day working on those new purchases images and posting the six Osprey Collection coins to the price list. Morning shipping is reasonably strong and will keep us occupied through the noon hour.

Please remember GFRC if wishing to divest a major collection or duplicates during this robust market cycle. The GFRC Online Auctions platform continues to grow its momentum with the Eclectic Collection Auction Sale. Just imagine what can be done for marketing your old time collection at very competitive commission rates!

Thanks again for stopping by at the Daily Blog. Be well!

 

 

 

Sunday April 17, 2022

Happy Easter 2022!

More Special New Purchases to Consider

and

Adding Low CAC Population Seated Dimes to the Eclectic Collection Auction Sale

 

 

 

Greetings on Easter Sunday and welcome to another Daily Blog edition. Thank-you for visiting on this most special Christian holiday. Happy Easter 2022 to the GFRC community.

Memories of childhood days in Lewiston, Maine are particularly vivid as the Blog is being composed. Easter Sunday was on par with Christmas for its importance to the Fortin family. The children were given new clothes to wear for attendance at Easter Sunday mass. Since growing up without an automobile, the family would walk to Holy Family church nicely dressed for the occasion. Back at home, the Easter bunny was busy preparing his baskets with chocolates and candy eggs. The Fortin children were required to abstain from any candies during the 40 days of Lent and rewarded with an Easter basket after mass. As practicing Catholics, we also did not eat meat on Friday's. Those were simply times in an era without computers and the Internet. Our entertainment was a radio, a black & white TV and books. The horrors of the Vietnam war and daily body counts, as communicated by Walter Cronkite along with the assassination of President Kennedy still remain deep in my psyche.

Much time has passed since those childhood days with massive technological innovations. Little did I realize that my childhood numismatic passion for early date Lincoln pennies and Buffalo nickels would lead to the current GFRC business.

Shifting topics...

Saturday brought a busy office day followed by drinks and hors d'oeuvres with our favorite neighbors at the Auburn Lakes HOA. Jan and Pam are always so delightful! As everyone returns back to their northern homes, the time had come to say goodbye.

Evening time brought the completion of the Eclectic Collection Liberty Seated Quarter Auction Sale reserve pricing proposal followed by an issuance to the consignor for contemplation and approval. As the reserve prices were researched and formulated, the scope and magnitude of this sale became much more apparent. The Liberty Seated half dollar segment is a fitting counterpart for the Eclectic quarters but I found the Liberty Seated dimes module to be anemic. Something had to be done to enhance the dime section. Further on in the Blog, you will find two important low CAC population additions to the auction that should garner fresh attention. Overall, the Eclectic Collection auction sale will be one of the finest on record for the GFRC Online Auctions platform with reserve prices above the $200,000 threshold.

 

More Special New Purchases to Consider

It seems like the new purchases stockpile could last for weeks!

Between purchasing that 150 piece collection and aggressive buying at the Whitman Baltimore show, GFRC will be rolling out new purchases through the balance of April and well into May. Early June brings the Summer Whitman Baltimore show as another opportunity to rebuild inventory reserves.

Do you need to sell a collection or wish to send along a significant consignment for auction or price list sale? I'm in the office every day of the week and pleased to work with you. Of course, the proposed coins must be consistent with the current GFRC product offering landscape and values.

Following are five more new purchases to consider on Easter Sunday. The 1859 Indian cent is a first year issue and super type set possibility. The 1864 proof Liberty Seated half brings sharp mirrors and tons of bright light viewing enjoyment. The three $10 gold pieces are from the Osprey Collection and should not last too long on the price list. All will be posted online later today.

 

More Special New Purchases to Consider

1859 PCGS MS64 1C                                                                   1864 PCGS PR65 50C

    

 1885-S PCGS MS62 CAC G$10                  1893-S PCGS MS62 CAC G$10                    1910 NGC MS62 CAC G$10    

            

 

Low CAC Population Seated Dimes for the Eclectic Collection Auction Sale

I am most pleased to be adding two special Liberty Seated dimes to the Eclectic Collection auction sale. Both pieces should garner much attention given their low CAC population status.

We open with an unquestionably original 1855 With Arrows dime that is only pop 3 at the MS64 level with three finer. Hard to believe isn't it for a "common date"? Let's be clear that the 1855 With Arrows date is far from common at the AU and Mint State grades. This date has been poorly served by the price guides that lump it in with the omnipresent 1853 and 1854 Philadelphia strikes. I've expecting rigorous bidding for this lot.

How I hate to let the 1868 F-107a dime leave the Gerry Fortin Reference Collection. This one was purchased way back during April 1996. At that time, a very young Jason Carter worked at Heritage and would send me shipments on approval as he cherry picked the nicest Liberty Seated dimes that would arrive into the Dallas office. I remember receiving the 1868 dime with a note that said, Just Buy It... CAC population is 1 at grade with five finer. One of the five finer is an MS65 specimen in my reference collection. Fair warning on this piece. The reserve will be sit quite high given its rarity and incredible eye appeal. Bidders will need to pry this one out of my hands with adequate compensation.

 

Adding Low CAC Population Seated Dimes to the Eclectic Collection Auction Sale

1855 Arrows Unlisted PCGS MS64 CAC 10C                                1868 F-107a NGC MS64 CAC 10C            

    

 

Wrapping Up The Blog

I received a text message on Saturday warning me to not be a "Chicken Little" with the sky is falling Blog commentary. The message was in good fun but brought a perspective for how some might view those ramblings.

Throughout my adult life, I have been most perceptive of global and technological events given years in the semiconductor industry and living for extended periods of time in Malaysia, Singapore, and mainland China. Covid-19 terminated my efforts to grow a GFRC international presence in Shanghai and surrounding provinces.

Those experiences have shaped me to remain focused globally rather than living in the U.S. clickbait media cocoon. Our planet is highly interconnected and what happens in Asia or Europe will eventually impact the States. As an investor and business person, staying abreast of global developments and risks is paramount. Therefore, if I communicate a different perspective in the Blog, this is the reason why. To date, this operating mood has served me well.

Again, Happy Easter 2022! Be well...

 

 

 

Saturday April 16, 2022

All GFRC Payments Go to Maine Address Starting Monday

and

Eclectic Collection Auction Sale Update

 

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

In preparations for today's edition, I've spent the past hour researching several topics that are becoming disconcerting from an inflation and investment perspective. First is the re-emergence of the Avian flu that is spreading quickly throughout the United States. Little if any coverage is seen on the major online or cable news networks. 27 states now have reported cases with the current crisis being more substantial than that of 2015. The availability of chickens (broilers) and higher eggs prices are forthcoming issues.

Over in Shanghai, lock downs are entering their third week with 300,000 people diagnosed with Omicron. The Shanghai government is rapidly converting government buildings, and now residential complexes into quarantine facilities. The death rate is not the issue, rather impacts to an already stressed supply chain are growing. Shanghai is a major exporting facility along with being a technology hub in China. Several large semiconductor plants operate in the Shanghai Pudong technology park.

There is not need to discuss the Russia-Ukrainian war. However, the sinking of the Russian cruiser Moskva by a Ukrainian missile will only escalated the lost of face for Putin. The possibility for further escalations is real given that Sweden and Finland are moving towards NATO membership. Putin will grow more isolated as his gambit is failing. A corrupt Russian system, including the military, is being witnessed first hand. We could wake up one morning and learn that a tactical nuclear weapon has been exploded in Ukraine. I wish not to consider this potential event as an investor.

Where am I going with this?

A protracted and uglier war will impact global food supplies given the importance of Ukraine and Russia exports in that supply chain. The breakout of the Avian flu in the United States is untimely and will further compound matters. Energy price increases are filtering through domestic manufacturing and transport. I'm not optimistic about inflation slowing down during 2022.

Today's gold price quote stands at $1975/oz. My gut feel is that precious metals have incremental upside opportunities and will set new highs as global news will continue to be negative. Just twelve years ago the world witnessed the Arab Spring uprisings which started in Tunisia and spread through the Arab world. Poor economic conditions are often cited as the root cause. Gold is a global store of wealth and highly prized in the developing world.

In the United States, media attention will remain on the Russian-Ukrainian war and forthcoming mid-term elections. Economic and social developments outside the U.S. will be ignored by a clickbait hungry media. However, ongoing developments outside the U.S. will eventually have ramifications for the supply chain given the level of goods importation.

Just food for thought as being proactive is a wise approach towards living life.

 

All GFRC Payments Go to Maine Address Starting Monday

Three cheers go out to Diane!

Diane has worked closely with USPS to configure the GFRC forwarding mail from Venice to Raymond effective April 23. She has also confirmed that all mail arriving to the Raymond, Maine post office as of Monday April 17th will be held there until our arrival.

Effective Monday, all GFRC check payment must be mailed to the Raymond, Maine address as follows:

GFRC

225 Valley Rd.

Raymond, Maine 04071-6163

Diane and I will be shipping as many orders as possible today and during the balance of the coming week on a Quick Ship basis. We know our client base well. Your responsibility is to confirm that check payment has been mailed to the Maine address. Based on that email commitment, your orders will be promptly shipped from the Venice office throughout the week. My apologies to new customers with an unknown order history as we must hold shipments until restarting operations in the Maine office on April 25th.

Also effective today, we will be changing the return address on all shipments to the Maine address. On Easter Sunday, I will change the GFRC addresses to Maine on the GFRC website and on Collectors Corner.

 

Eclectic Collection Auction Sale Update

The next 48 hours will bring the completion of the Eclectic Collection Auction Sale online catalog.

Len Augsburger has committed to wrap up his authoritative descriptions by Sunday for the Eclectic Liberty Seated quarters.

During the afternoon hours, I will be preparing a reserve pricing proposal for the consignor's approval. Once approved, those offer prices will be posted to the catalog.

The final task will be the construction of the PDF catalog at some point during the coming week.

 

Wrapping Up The Blog

The Saturday morning hours will see the GFRC staff in the shipping department. There are many paid orders and several Quick Ships that will be outgoing today. Afternoon brings the careful evaluation of the Eclectic Collection lots and a reserve pricing proposal to the consignor.

With that, I am heading out for an early morning health walk.

Thank-you for visiting the Blog. Be well.

 

 

 

Friday April 15, 2022

Good Friday 2022 Arrives - Are There Modern Day Parallels?

and

Unleashing a Host of Significant New Purchases

 

Greetings on Good Friday and welcome to another Daily Blog edition.

My whereabouts at 6:00 AM are predictable. If there was a remote camera in the GFRC office, the feed would show the owner sitting at a laptop and attempting to piece together another set of coherent ramblings. Some mornings bring unexplained creativity while others bring writer's block. Today is the latter with many items on my mind but none are appropriate to discuss or share on this platform due to the fear of offending someone in the visiting community. Isn't it interesting that if daring enough to stray away from the numismatic message, there are those that will send emails and request my silence since stressing that I am uninformed on the non-numismatic topic. This is a good opening for the following thoughts concerning Good Friday and new developments in the social media world.

Good Friday is a sacred Christian holiday that honors the crucification of Jesus Christ. I remember being a young boy in Lewiston, Maine and being a member of the Holy Family parish. In Lewiston, the lives of the French-Canadian working class revolved around the church. Elementary and high school years found me in Catholic learning institutions with nuns and brothers. The education quality was high along with the learning discipline and morality expectations. Each Good Friday, I would attend church and sit through the 12 stations of the cross, a retelling of the scorn and pain endured by Jesus prior to being crucified. The entire event is gruesome in modern terms and more than equivalent to torture. Jesus gave his life to free the souls of all Christians followed by being raised from the dead on Easter Sunday.

I can't help but see parallels between the current Easter season and headline news of the week. Yes, Elon Musk has made his move with a hostile takeover attempt of Twitter. He sees the present state of Twitter, with a pro-censorship CEO, being inconsistent with a functioning democracy. A modern day genius that has revolutionized the global automobile industry and space travel immediately becomes the scorn of the liberal media. Fear abounds among those that believe that censorship is an important aspect of today's modern "civilized" society. Censorship is well entrenched across a substantial part of the globe with Communist China and Russia being most notable along with other smaller actors. Why does a takeover attempt of Twitter by Elon Musk bring anxieties to those in our news/entertainment industry? Again, this is a risk taking genius that has previously acted on behalf of mankind by providing leadership for the rapid conversion of the fossil fuel dependent automobile industry into the Electric Vehicle era. Ditto for the slow moving government controlled NASA that had become dependent on the Russian space industry for placing American's in space. One man has accomplished both but promptly becomes a target of scorn for his latest initiative.

Now that this is off my chest, let's return to the Blog's safe space that is numismatics.

 

Unleashing a Host of Significant New Purchases

Photography and image processing were the main events on Thursday along with a host of incoming sales orders.

The latest GFRC offerings should be signaling a continued migration to higher priced inventory items. How I am enjoying the handling of high end two cent pieces and shield nickels within today's gallery as a refreshing learning opportunity. All of the pieces in this gallery are new purchases from the Whitman Baltimore show or part of the deal that was purchased on Wednesday evening. A conscious effort is being made to expand GFRC inventory on a horizontal and vertical basis.

Speaking of the really fair purchase deal and Thursday's Blog commentary, I received this email from a long time GFRC customer recently turned consignor.

Good morning, Gerry.  I liked the discussion of your recent purchase negotiations.  You are indeed fair.  Because you're honest, and you view your interactions with clients as win-win opportunities.

We trained economists always have our antennae up for win-win outcomes.  Contrast this win-win mentality with today's political world.  Regardless of one's place on the political spectrum, most (all?) would agree that a zero-sum transaction mentality dominates modern politics: each transaction is a win-lose proposition, with no room for mutual benefit. Reminds me of my days living in Ghana as a young man.  Each new government that came in would simply throw out everything... EVERYthing that the  previous government had done or set up.  And then start over.  Result: never any sustained forward progress. 

You are building your business with a focus on sustained progress.  Which means working with, not against, the folks you do business with (both sellers and buyers).  And it sure is paying off.

You are invited to review the following new offerings as potential candidates for an advanced collection. Already, the 1846 Seated dollar is spoken for and is being shipped on approval. The balance of the offerings are free agents with all images accurately capturing the strict originality and overall eye appeal except for the 1866 half dime which has been dipped. I purchased this one given its key date status and high probability that someone in the audience will need to fill that challenging hole in a Seated half dime date and mintmark set.

If Friday moves along as planned, all of the following coins will be posted to the price list by late afternoon along with more lower priced coins to consider.

 

Unleashing a Host of Significant New Purchases

Prices via Email Request

    1867 PCGS MS65+RD CAC 2C                                                       1835 NGC MS64+ 50C             

    

        1846 NGC MS62 $1                                                           1891-O PCGS MS64+ CAC 50C

    

 1838 N-2 NGC MS64BN CAC 1C           1834 LM-2 PCGS MS63 CAC H10C               1839 No Drap NGC MS63 H10C

            

1866 PCGS AU58 H10C                         1867 Rays NGC MS64 CAC 5C                    1871 NGC MS64 CAC 5C  

            

1877 NGC PF64CAM CAC 10C

 

 

Global Financial News

Since U.S. equity markets are closed for observance of Good Friday, the Seeking Alpha staff has the day off.

Equity markets gave back nearly all of Wednesday's gains on Thursday with the S&P closing at 4392. European markets are incrementally higher as the Blog is being composed.

Spot gold is trading at $1975/oz and continues to build a new trading range below the all important $2000 mark. The following Kitco 5 year chart illustrates that the current gold price breakout is healthy on a technical basis.

 

Wrapping Up The Blog

Thank-you for hearing me out in today's edition and please monitor the 30 Day Price List for many attractive new offerings.

Wishing everyone a pleasant day in the numismatic neighborhood but let's not forget that the Good Friday observance has withstood the test of time. There must be a fundamental reason...

Be well!