Collector to Collector Trading Desk

Originally published on February 14 2016

Many Blog readers are probably growing tired of reading about the GFRC inventory and sales system project. A project of this magnitude consumes a substantial amount of time when building a system from scratch; like baking a cake and starting with flour and eggs rather than buying a premixed package at the grocery store. This project will span months and not a few weeks and eventually will involve GFRC consignors for feedback support. If one steps back and views the larger picture, the collector to collector Trading Desk is a partnership among collectors that comprise the major numismatic clubs. The advanced collectors in these organizations seek the same coins through friendly competition and enjoy the thrill of the hunt. This hunt brings about camaraderie, life long friends and important financial assets. These assets can be enjoyed rather than being line items on a stock broker report. The new GFRC software management system will be custom designed to enable and support the Trading Desk as I believe this concept will have very strong legs in the coming years. Why?

• The highest quality Liberty Seated and Bust coins reside in collector hands and not in dealer inventories.


• Well educated collectors understand and respect the concept of being a collection curator since working diligently towards assembling their collections. They respect their coins as historical artifacts and not quick turn profit opportunities. The blatant coin doctors and crack out artists are dealers and not collectors.


• Collectors fundamentally want their prized coins to go directly into other collections rather than trade on bourse floors or be subjected to "improvement actions" towards a higher certified grade. Over graded/priced and marginal quality coins tend to languish while top quality coins immediately find new homes.


• Collectors love to hunt for and purchase coins but many find the selling side of the equation to be distasteful. Others hate the thought of surrendering their coins to a large auction corporation and losing control of their prized possessions.


• Collectors are the underpinning of the numismatic hobby. Without the collectors, the industry crumbles in short time.

I owe so much to the numismatic hobby as it has been an essential part of my being and a stabilizing factor during most of my adult life. I could always return to coins to find peace, respect and a personal sense of accomplishment regardless of the ups and downs of a business career. Therefore the construction of GFRC and now the Trading Desk is becoming much more than another personal business to cover living expenses. It is the implementation of a personal vision. The Trading Desk is a unique business model that enables a collector numismatic exchange platform that includes collector education and the screening of product quality.

Since spending nearly 25 years as a collector, I have a sense of how and why collectors collect. They grow tired of being on dealer mailing lists and hearing the same marketing chatter; the market is hot or dealers arriving early to a major show and performing some great pre show purchases. As a former collector and still receiving major dealer bulk mailings, I get to read their marketing chatter and find it amusing after the transition to a full time dealer. The great coins are not in dealer inventories but rather in advanced collector hands and this is why the collector to collector Trading Desk operating model is so relevant to our numismatic circle. This is why the Daily Blog popularity has grown with 350-400 views each day. Collectors are coming to the Daily Blog to learn what new collections or coins may be available in the near term since the source of coins is other collectors and not recycled dealer inventory purchased at major shows or auction.

As of today, GFRC is abandoning the traditional bulk mailing campaign approach and Constant Contact account. I believe precious marketing dollars are better spent advertising the Daily Blog and Trading Desk as these concepts are well aligned with collector needs.

March 7, 2019 Update

The Trading Desk business model operates by using consignor sales proceeds to purchase other coins on the GFRC price list. The sale of numismatic properties via any sales method may be subject to capital gains and associated tax reporting. Please consult with your tax accountant for professional guidance during the sale of numismatic properties.