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Featured Coins of the Day

1863 PCGS EF40 50C
$415


1863 V-1 PCGS PR64 5C
Peterson $700


1865 F-101a NGC MS66 10C
Newtown $4500


1865 F-101a PCGS F12 10C
AuburnNY Accordian $1295


1866 PCGS AU Details 50C
Peterson $350


1866 WB-103 NGC MS61 50C
Golden Harvest $1300


 

 

October 18, 2019

GFRC Presents the Mark Mattox United States Gold Estate

 

Mark Mattox United States Gold Estate

$1 Gold Type

1849 Open Wreath PCGS AU58 CAC G$1                1853 PCGS MS63 CAC G$1                            1855 PCGS AU55 CAC G$1         

            

1874 PCGS MS63 CAC G$1                         1874 PCGS MS63 CAC G$1

      

 

$2.5 Gold Type

     1836 Script 8 NGC EF45 CAC G$2.5                         1905 PCGS MS64 CAC G$2.5                      1927 PCGS MS63+ CAC G$2.5

            

     1928 PCGS MS63 CAC G$2.5

 

$3 Gold Type

     1874 NGC AU55 CAC G$3

 

$5 Gold Type

     1836 PCGS EF45 G$5                             1847 PCGS AU58 CAC G$5                                  1899 NGC MS63 G$5

            

     1905 PCGS MS64 CAC G$5                      1909-D PCGS MS63 CAC G$5

      

 

$10 Gold Type

     1847 NGC AU55 G$10                                  1897 NGC MS63 G$10                         1901-S PCGS MS63+ CAC G$10

            

     1907 NM PCGS MS62 CAC G$10                         1910 PCGS MS62 G$10                               1910-D PCGS MS62 G$10         

            

     1910-S PCGS AU58 G$10                            1913 PCGS MS62 G$10                                1914-D PCGS MS62 G$10

            

           1915 PCGS MS62 G$10                                  1926 PCGS MS64 G$10                      1932 PCGS MS62 CAC Rattler G$10

            

 

$20 Gold Type

1853 PCGS AU53 CAC G$20                      1876-S PCGS AU55 CAC G$20                         1899 PCGS MS63 G$10    

            

1910-S PCGS MS62 CAC OGH G$20

 

 

 

 

October 17, 2019

Heavy Winds and New GFRC Consignments

Greetings on a Thursday morning and welcome to the Blog.

As the headline indicates, southern Maine is experiencing an Autumn Nor'easter. Winds have been howling since the early morning hours along with heavy rainfall. So far, so good with continuous electrical power service.

Maine experienced a similar storm during October 2017. That storm brought 70 mph winds and tore about a bundle of shingles off the Fortin's roof coupled with a day's power outage. Since those memories remained fresh, Wednesday brought preparations. The gas generator was filled and tested. The gas grill was anchored down with bungy cords and outdoor furniture brought into the house. Sadly, today's storm will strip leaves from the trees and shorten peak foliage viewing.

Today's Blog will be somewhat brief given the chance for a power outage and the fact that I've not prepared content on Wednesday. Let's bring in a piece from Seth Godin to help with fleshing out today's edition.

 

Seth Godin Blog: "This is mediocre"

This piece by Godin caught my attention a few days ago. It makes an excellent point concerning the level of service consumers are willing to accept versus what they are willing to pay for. McDonald's food is always predictable but far from the best that one can purchase. The price paid is consistent with the quality or lack there of. As Godin points out, many industries create products or services that are only average but can be sold at a low competitive prices. Air travel is a sterling example of mediocre service as a result of cheap fares.

The numismatic business is no different. Collectors can easily purchase a mediorce coin at an average price via a host of online retailers. Mediocre or average coins have become a commodity with many different price guides indicating the commercial "value" of such items. Specialty dealers take a different approach. They seek to locate above average coins in terms of originality and eye appeal. This individuals actually study the coins rather than the TPG holder labels. They avoid buying low priced dealer wholesale inventory since recognizing it is mostly average or inferior quality that can't find a home. Instead, specialty dealers handpick each inventory item for eye appeal and true long term value. Yes, those handpicked coins will be more expensive than the "this is mediocre" commodities. Which would you rather own?

“This is mediocre”

Large organizations seek to decrease variability.

Starbucks wants the very best latte you buy from them to be exactly the same as the worst one.

If you define a spec and work hard to meet it, you can make it so that most things are within a reasonable distance of that spec. Which means that most of what you make is average.

If an entire industry is busy seeking to meet that average, we can define that work as mediocre. Not horrible, but certainly not exceptional (because ‘exception’ -al is self-explanatory).

When you go out to buy aluminum siding, copywriting or consulting services, you have a choice: You can demand that the work meets the industry spec, a fair product at a fair price. Or, you can seek something better than average, something worth paying extra for.

Most TV ads, most car services, most airplane flights–they’re mediocre. That’s a choice.

If you want to buy creative work that’s exceptional, you’ll need to pay for it (and accept the risk that it might not work out as planned).

 

GFRC Consignment Processing Status

Wednesday brought a long day in the GFRC office as three large consignments were concurrently processed. Following is a brief status for each consignment.

Titan Collection

All of the Titan Collection offerings are loaded to the price list and immediately available for purchase. FRoRs are being acted upon and I expect a few more "Hold" markers on the Titan pieces by noon time.

Mark Mattox Estate - U.S. Gold

There are 31 pieces in the Mark Mattox U.S. gold lot. Image processing is about 80% completed and will be wrapped up today. Once the images are ready, a client gallery file will be constructed and forwarded to Len Augsburger. Len will be generating the product descriptions for Mark's cherished U.S. gold type set and other holdings. Look for the Mark Mattox client gallery to be displayed in Friday's Blog edition (tomorrow) and price list debut at some point once Len wraps up the descriptions.

Gerry Fortin Reference Collection Seated Dimes

This lot totals 42 pieces. Image processing is about 40% complete and will be today's primary focus after completing the Mark Mattox display. I've yet to load the 42 pieces into the COIN system with attributions and must also get this done. The balance of Thursday and all of Friday will be dedicated to completing the Gerry Fortin reference collection preparations. Look for a Blog client gallery debut during the weekend.

 

New GFRC Consignments

Since re-opening the GFRC consignment window, multiple lots have been committed and are in transit. Following are highlights.

Newtown Collection

A 20 piece United States $5 gold type grading set lot plus three Liberty Seated dime duplicates from his Open Registry Set. We are planning to sell the 20 piece grading set as a single lot prior to and during the Whitman Baltimore show.

White Pine Collection

A 19 piece Liberty Seated coinage lot with emphasis on branch mints and CAC approvals. About half are Seated quarters.

AuburnNY Accordian Collection

A 20 piece Liberty Seated dime lot that will include better dates and R6/R7 die varieties. All are holdered with many CAC approved.

 

Global Financial News

Global equity markets continue to be in an upbeat mood other than China's Shanghai stock exchange. This optimism is reflected in the 10 Year U.S Treasury bond yield as monies migrate from safety to riskier investments. The 10 Year bond yield has increased to 1.79%

Crude oil prices remain flat at $53.19/bbl while physical gold is also seeing outflows into risk on type investments. Gold is priced at $1489/oz this morning. The latest Bitcoin quote is $8119/coin.

Let's have a quick look at some must read Seeking Alpha headlines. We open with Facebook still touting their Libra crypto currency initiative though suffering defections from credit card players.

The head of Facebook's Libra project said he still expects to get 100 banks and financial firms on board once regulatory concerns are addressed. Libra chief David Marcus told a panel at the International Monetary Fund conference in Washington yesterday that 1,600 entities globally had initially expressed an interest in joining the project, so Libra should have "no problem" reaching its goal of launching with 100 members. Facebook's attempt to establish a global digital currency has suffered severe setbacks in recent days, abandoned by the likes of Visa, Mastercard, PayPal, Stripe, eBay and Booking.

Of course, China's industry ministry will gladly issue clearance for the start of Tesla manufacturing cars in China. Will Telsa technology stay contained in Shanghai? Why would Bejing Central government allow its first fully foreign-owned car plant in China? The precedence is for a reason....

Tesla has been approved by China's industry ministry to begin production at the $2B Gigafactory the company is building in Shanghai, the first fully-foreign-owned car plant in China.
Tesla plans to produce at least 1,000 of its Model 3s per week from the Chinese factory, which reportedly could be up and running within weeks. The new factory will give Tesla access to China - the world's biggest car market - and help the company avoid higher import tariffs that are imposed on cars made in the U.S.

 

Wrapping Up The Blog

Whew.... The power has remained on and the Blog is done. Time to hit the upload button followed by a quick transition into the shipping department. There will be no morning health walk today!

Yes, I will be in the office the entire day processing images as indicated earlier in the Blog. How about making a purchase for your numismatic collection? I'm just a phone call, email or text message away.

Thank-you for stopping by at the Blog! Wishing everyone a great day. See you tomorrow with the United States gold offerings from the Mark Mattox Estate.

 

 

 

October 16, 2019

A Case Study in CAC Approved Originality

Greetings and welcome to the Blog on a Wednesday. There is much to share today!

Tuesday brought awesome Autumn weather to southern Maine. Lunch time temperatures were warm enough for shorts and t-shirt while conducting a long photography session. Though the sun is much lower in the sky, an inclined location was found where the photography table could be sharply tilted into the sun. The result was mid summer like lighting conditions and some great images to work with. The new Titan Collection offerings and the balance of the Mark Mattox Estate gold pieces were successful imaged.

By 2:00 pm, it was time for a health walk as road traffic tends to subside for a hour or so. By 3:30 pm, afternoon commuter traffic kicks in. Over the years, our road has evolved into an east-west highway between the Sebago Lake population and Lewiston-Auburn cities. It is only a two lane road but feels like a highway when attempting health walks at busy time.

2019 peak foliage has arrived on schedule and was on majesty display during yesterday's walk. I stopped along the way to take several images of silver and sugar maples for the Blog. Enjoy!

 

A Case Study in CAC Approved Originality

Every GFRC consignor is unique with respect to their collecting styles and objectives. This realization has set in after handling a host of consignments during the past five years.

When photographing and processing the recent Titan Collection consignment, it become obvious that these pieces possessed the ideal CAC eye appeal that John Albanese will immediately sticker. Yes, perfectly original silver coinage does offer a signature appearance. The Titan Collection is a important case study in silver coinage originality and warrants special consideration in today's Blog. The following client gallery makes for an awesome display while being an important teaching aid. Please note the old time crusty surfaces and colors. This is the true appearance of unmolested silver surfaces that have been allowed to naturally tone.

The Titan Collection gallery opens with two magnificent 1818 dated Capped bust pieces. The 1818/5 quarter blew me away upon arrival. It is a piece that I would enjoy owning for years to come if building my own PCGS box of 20 collection. I've studied this piece and unable to locate wear. The assigned PCGS AU58+ grade with CAC approval is congruent with surface conditions and eye appeal. Please note the hammered strike and crusty golden-gray patina that shouts originality. Sorry, but this piece is already spoken for at $5500. The 1818 O-107 Capped Bust half holds its own when paired with the 1818/5 quarter. Surfaces are similarly toned with crusty olive-gray patina. The assigned AU53 grade appears to be conservative.

The balance of the Titan Collection consignment offerings form A Case Study in CAC Approved Originality. Look for these offerings on the price list by Thursday. There are several FRoRs on the books but many pieces remain unspoken for.

Titan Collection Consignment - A Case Study in CAC Originality

1818/5 PCGS AU58+ CAC 25C                                                       1818 O-107 PCGS AU53 50C

    

       1839 PCGS AU53 CAC 5C                               1903-S PCGS VF25 10C                      1854 Arrows PCGS AU53 CAC 25C

            

          1857-O PCGS AU55 25C                         1861 II/II PCGS AU53 CAC 25C                  1874 Arrows PCGS EF45 CAC 25C

            

  1876-S PCGS AU53 CAC 25C                         1902 PCGS AU50 CAC 25C                           1906 PCGS AU58 CAC 25C

            

    1908-D PCGS AU53 CAC 25C                         1916-D PCGS AU55 CAC 25C                           1918-S PCGS MS62 50C     

            

 

Gerry Fortin Liberty Seated Dime Reference Collection Lot - Coming Soon

In Tuesday's Blog, I promised to itemize the forthcoming offerings in the Gerry Fortin Liberty Seated Dime reference collection lot. As a practice, I work towards holding to commitments. So there I was last evening in the GFRC office, during the Democratic debate, attributing every upcoming Seated dime by variety and whether a plate coin for The Definitive Resource for Liberty Seated Dime Variety Collectors. Several customers and ardent Seated dime specialists have been waiting for this moment. Following is a substantial lot that will be displayed as a special Daily Blog client gallery in the next 48 hours of so. Current web-book plate coins are highlighted in bold font! Get ready for some fun!

Gerry Fortin's Liberty Seated Dime Collection Consignment

Seated 10c:

1854-O F-106 PCGS AU55; 1855 F-101a PCGS F15; 1855 F-108 PCGS AU58; 1857-O F-102 PCGS AU50; 1857-O F-104 PCGS EF45; 1861 T2 F-111 ANACS AU55 Blue Label

1872 F-104 PCGS MS63; 1872 F-106 PCGS AU58; 1872 F-109 PCGS AU Details so rare with ancient rim filing below date; 1872 F-112 PCGS MS63+ CAC; 1873 NA Closed 3 F-105 PCGS AU55; 1873 NA Open 3 F-105 AU58; 1873 Arrows F-101 PCGS AU53 CAC; 1875 F-103 PCGS MS64 CAC

1875-CC IW F-102 ANACS MS62 OWH; 1875-CC IW F-105 PCGS MS61; 1875-CC IW F-105a PCGS AU55 CAC; 1875-CC IW F-107a PCGS AU58; 1875-CC IW F-107c PCGS AU58; 1875-CC IW F-107c ANACS EF40 OWH from Tim Cook Collection HA 2005 CSNS sale; 1875-CC IW F-109 PCGS MS63; 1875-CC IW F-112 PCGS AU58; 1875-CC IW F-113 PCGS AU55 CAC

1875-CC BW F-102 PCGS AU58 CAC and will become new plate coin; 1875-CC BW F-106 PCGS MS62 CAC; 1875-CC BW F-106a PCGS AU58; 1875-CC BW F-108 PCGS AU55

1875-S IW F-106 ANACS MS62 gold label holder; 1876-CC F-108a DDR PCGS MS62; 1876-CC F-109 PCGS AU55; 1876-CC F-112 Rotated Dies PCGS EF45 incredibly rare at this grade level; 1876-CC F-128 PCGS MS63; 1876-S T1 F-118 PCGS MS62; 1876-S T2 F-105 PCGS MS63 CAC one of the finest Type 2 reverse examples extant

1877-CC T1 F-104 PCGS MS62; 1877-CC T1 F-105 PCGS MS62; 1877-CC T1 F-106 PCGS AU58 CAC; 1877-CC T2 F-105 PCGS MS62; 1877-CC T2 F-114 ANACS MS64 OWH; 1877-CC T2 F-115 ANACS AU58 OWH

1878-CC F-103 ANACS MS61 OWH; 1891-O F-106 PCGS MS64 CAC

I believe that Blog readers and the community can understand why it has taken a lengthy period of time to organize and stage this consigned lot. There are many existing FRoRs on the books. Once the client gallery is posted, I will go back through old emails to determine who is first (and second) on each coin.

 

Global Financial News

Seeking Alpha headlines are mostly barren today. As a result, there is little to share.

World-wide equity markets are quiet. Ditto for commodities and interest rates. Crude oil pricing is essentially flat and quoting at $52.61/bbl. Spot gold pricing has softened to $1487/oz along with Bitcoin down to $8136/coin. The 10 Year U.S. Treasury bond yield has inched up to 1.72%. All appears to be stable with a slight risk on mood in the financial world.

 

Wrapping Up The Blog

Whew! This has been a substantial edition and I hope you've enjoyed the visit. As you can imagine, I have much image processing and price list loading to accomplish between now and the weekend.

Len Augsburger has agreed to write descriptions for the upcoming Mark Mattox Estate rollout and the gold coinage segment. Please expect that client gallery to be published at the Blog on Saturday.

The time has come to conclude today's edition and get going with regular packing and shipping. Yes, of course, I will be in the GFRC office the entire day and looking forward to your purchase orders and First Rights of Refusals.

See you tomorrow and thanks for stopping by.

 

 

 

October 15, 2019

Another Fabulous Consignment Wave on the Horizon

Greetings and welcome to the Blog on a Tuesday morning.

Ideal Autumn weather is Tuesday's highlight and will be leveraged for a host of GFRC photography. Current temperature is a comfortable 60F with bright sun forecasted through mid afternoon. Peak foliage colors are nearly upon us with morning health walks being thoroughly enjoyed.

Today's Blog edition will be tad brief. There is little fresh content to share as focus has been on processing larger consignments. Rather than spoon feeding a few new coins to keep the Blog illustrated with new images, I'm trying a different approach. The response to the Labelman87 and Twin Lakes Collection offerings was substantial. As a collector, I enjoy viewing numismatic set building efforts in the larger context of complete set offerings. This provides specal insights into an individual's leanings for eye appeal and rarity. As a result, Blog readers must wait a few days while wide-ranging client galleries are prepared. I ask for your patience and support as this revised marketing approach evolves and is tested during the upcoming ten days or so.

 

Another Fabulous Consignment Wave on the Horizon

Following are itemized listing for the upcoming Mark Mattox Estate and Titan Collection onsignments to whet your appetite. In Wednesday's Blog, the focus will be on my reference collection Liberty Seated dimes. As always, First Rights of Refusals are solicited and welcomed.

Mark Mattox Estate (Alexandria Collection)

Gold $1: 1849 Open Wreath PCGS AU58; 1853 Type 1 PCGS MS63 CAC; 1855 Type 2 PCGS AU55 CAC; 1874 Type 3 PCGS MS63 CAC; 1874 Type 3 PCGS MS63 CAC

Gold $2.5: 1836 Script 8 NGC EF45 CAC; 1905 PCGS MS64 CAC; 1927 PCGS MS63+ CAC; 1928 PCGS MS63 CAC;

Gold $3: 1874 NGC AU55 CAC with heavy copper red patina, so cool

Gold $5: 1836 PCGS EF45; 1847 PCGS AU58 CAC rich copper gold; 1899 NGC MS63; 1905 PCGS MS64 CAC; 1909-D PCGS MS63 CAC

Gold $10: 1847 NGC AU55; 1897 NGC MS63; 1901-S PCGS MS63+ CAC; 1907 No Motto PCGS MS62 CAC; 1910 PCGS MS62; 1910-D PCGS MS62; 1910-S PCGS AU58; 1913 PCGS MS62; 1914-D PCGS 62 so choice; 1915 PCGS MS62; 1926 PCGS MS62; 1932 PCGS MS62 CAC Rattler

Gold $20: 1853 PCGS AU53 CAC; 1876-S PCGS AU55 CAC; 1899 PCGS MS63; 1910-S PCGS MS62 CAC OGH gem at grade

Titan Collection Consignment

Seated 5c: 1839 PCGS AU53 CAC crusty original

Barber 10c: 1903-S PCGS VF25 circulated cameo eye appeal

Capped Bust 25c: 1818/5 PCGS AU58+ CAC super amazing gem

Seated 25c: 1854 PCGS AU53 CAC crusty gray-gold; 1857-O PCGS AU55; 1861 II/II PCGS AU53 CAC dirty crusty gray gem; 1874 PCGS EF45 CAC crusty and choice; 1876-S PCGA AU53 CAC choice gray-gold

Barber 25c: 1902 PCGS AU50 CAC; 1906 PCGS AU58 CAC; 1908-D PCGA AU53 CAC; 1916-D PCGS AU55 CAC

Capped Bust 50c: 1818 O-107 PCGS AU53 CAC a gem at the assigned grade

Walking Liberty 50c: 1918-S PCGS MS62 crusty gray-gold, so original

 

GFRC Consignment Window Is Opened!

Yes, briefly closing the GFRC consignment window allowed me to catch-up a bit. The practical reality is with my difficulty is saying no to quality consignment proposals. This weekend brought yet another great U.S. gold consignment offering which I wholeheartedly agreed to take on. It is best to open the GFRC consignment window in fairness to those who wish to offer coins for the upcoming Winter Whitman Baltimore show.

Please let me know what might be available for consignment!

 

Global Financial News

World-wide equity markets are mixed as traders seek more news about the "Phase 1" China - U.S. Trade deal. While that takes place, we learn that China is suffering from increased food inflation due to a pork shortage. Pork is a key ingredient in the Chinese diet but diseases are ravaging pork stocks. Seeking Alpha captures the situation with this headline. Those of us in the United States should understand that the Chinese lack oversight on food suppliers. Farmers and animal growers are free to use chemicals and antibiotics at will to speed up food generation. As long as consumers did not suffer immediate sicknesses that are traceable to producers, the farming supply chain is free to experiment with chemicals and drugs.

The issue become so bad with pork farmers, when I lived in China, that large quantities of diseased pigs would be dumped upstream into the HuangPo river that separated the Puxi and Pudong side of Shanghai. Floating pig carcasses through a major international city were not welcomed by the Shanghainese.

A surge in pork prices is largely responsible for Chinese consumer inflation that hit a near-six-year high Tuesday. The country's consumer price index rose 3% year over year, up from a 2.8% pace in August; nonfood prices rose 1%, but food prices rose 11.2% led by pork that jumped 69.3%. While consumer prices increased at a hot pace, producer prices declined sharper, dropping 1.2% Y/Y in September vs. 0.8% in August.

Looking at the usual commodities and interest rates, crude oil prices are steady at $52.54/bbl while spot gold is again holding at $1499/oz. Bitcoin is priced at $8309/coin. The 10 Year U.S. Treasury bond yield dropped slightly to 1.69%.

 

Wrapping Up The Blog

I will be in the GFRC office the entire day other than a quick morning health walk. Phone, email and text message orders will be quickly responded too. GFRC has a huge inventory and needs to rotate existing offerings with newly process consignments.

Wishing everyone a great day. Thank-you for visiting the Blog on an ongoing basis.

 

 

 

October 14, 2019

A Quiet Columbus Day in the GFRC Office

Greetings on a Columbus Day morning and welcome to the Blog.

I'm sorry to disappoint readers with today's Blog edition. Sunday brought a perfect Autumn weather day. The homestead's landscaping gravitational pull was unavoidable. Temperatures peaked in the low 70s with partly cloudy skies making for an ideal outdoors day. The front mulch bed and landscaping, between driveway and road, had not been attended to all summer and was in need of clean-up and serious pruning. After five hours of effort and six dump carts of brush, that portion of the homestead's tidiness and beauty was restored.

Sunday's pre-dinner scotch and nuts on the back deck was thoroughly earned. The weather remained warm with Diane making a rare appearance to enjoy the late afternoon conditions and colorful Autumn views. Unfortunately, Autumn brings an active ladybug and hornet season. Ladybugs were flying everywhere along with pesky hornets. Our dog Buddy decided to join us and soon was poking his nose into an area frequented by wasps and hornets. You guessed it. A hornet stun Buddy on the butt. So much for the quiet time of reflection and peace. The deck was cleared with all crevices sprayed with wasp and hornet killer. Those insects are gone for another year. Welcome to country life.

 

A Quiet Day in the GFRC Office

Every effort is made to have fresh new postings in the Daily Blog. Sunday's time away from the office coupled with processing larger consignments leaves me with little to share this morning. After Saturday's marathon session, I decided to take a break from numismatics for a day. Post dinner time was spent in the basement sound room enjoying another fantastic recording by Loreena McKennitt. The Mask and Mirror (1994) accentuated the Focal/Naim system sonic capabilities and showcased Loreena's incredible vocal range. As much as I love The Book of Secrets (1997), there was raw beauty and power on the The Mask and Mirror. Another listening session will take place this week to capture the recording's nuances.

Monday (Columbus Day) brings a quiet day in the GFRC office with a ton of image processing. Today's focus is the forthcoming offering from the Gerry Fortin Liberty Seated dime reference collection.

 

Global Financial News

The day starts with Asian equity markets showing postive gains while European and U.S. futures are in the red.

Interestingly, the U.S. 10 Year Treasury bond yield has increased to 1.73% as demand for the safety of United States bond wanes. President Trump's announcement of a "Phase 1" trade deal with China has seen little validation by Beijing. A quick scan of financial headlines brought the usual caveats. Beijing will insist on more talks with the U.S. before signing any such deal. The deal is in principal only. Have we seen this movie before? Trump is shrewd with his quick unilaterial announcement towards forcing China negotiators' hand. If more talks lead to a backing away from the deal, then China will be responsible for its appearance of being unable and untrustworthy to hold to commitments. Asia equity markets will again be impacted with the ongoing uncertainty driving away foreign investment.

Physical gold prices continue to operate in a tight trading range. Today's opening quote is $1499/oz. Crude oil is trading at $53.59/bbl. A tidy sum of $8333 buys you a Bitcoin today. I'll pass.

Spot Gold 10 Year Technical Chart - Kitco

I've not shown a spot gold trendchart in awhile. Needing at least one illustration for today's Blog, let's have a look at gold's 10 Year Kitco technical chart. There are similarities between today's trend and that of the October 2010 timeframe. In both cases, consolidation periods are visible with the trend line "supported" by its 60 day moving average. During the October 2010 timeframe, the 60 day moving average (blue line) stays well ahead of the 200 day moving average (green line). The October 2019 technical trend is presently identical to that of 2010.

I remain bullish on gold prices as the numismatic gold market attempts to adjust to higher spot prices. Premiums for common date MS63/MS64 $10 and $20 gold coins are minimal and an excellent buying opportunity for shrewd collectors and investors.

 

Wrapping Up The Blog

There is little left to be said at this point. I will be in the office the entire day as Maine weather looks to be conducive for staying indoors.

Thank-you for stopping by at the Blog. Happy Columbus Day!

 

 

 

October 13, 2019

Twin Lakes Collection Price Reductions

Greetings and welcome to the Blog on a quiet Sunday morning.

How I enjoy the Autumn season in Maine! The middle of October arrives in a few days and signals the rapid approach of peak Fall colors. Cooler temperatures enable a comfortable outdoor working environment. Since today brings partly cloudy conditions, my outdoor agenda includes the removal of the last two flowering plums along the driveway as part of a more significant landscaping overhaul that is planned for the Spring of 2020. Pine tree needles must be raked and transported to the burn pile. I'm looking forward to taking a break from consignment processing as it is a Sunday after all.

Saturday brought much consignment progress since working in the office for over thirteen continuous hours. Following is a progress summary which should provide insights into next week's new offerings.

Mark Mattox Estate (Alexandria Collection)

The United States gold portion of the recent consignment is loaded into COIN and priced. Offering prices have been shared with Rhonda for her awareness. About half of the gold pieces have been photographed with the balance to be imaged today or Tuesday pending weather conditions. My goal is to publish a large 31 piece Blog client gallery to memorialize Mark's United States gold collection followed by taking the entire lot to the price list. If all goes to plan, the Blog memorial will take place this coming Thursday or Friday.

Gerry Fortin Reference Collection Liberty Seated Dimes

Image processing was initiated on Sunday and will continue today. The divested holdings are substantial and total more than 40 pieces. Along with 1875-CC through 1877-CC web-book plate coins, I've add other dates to broaden customer appeal and demand. This event brings a substantial release of Liberty Seated dime die varieties and web-book plate coins. All dimes have been graded and submitted to CAC. The release has been delayed multiple times due to the constant insourcing of other client consignments and always moving my coins to the back of the queue. The time has come to give the Fortin Liberty Seated dimes their deserved priority.

Titan Collection Consignment - CAC Approved Quarters

The Titan Collection consignor called earlier this week and proposed a 14 piece consignment that spans mostly Capped Bust, Seated and Barber quarters with nearly all CAC approved. Yes, I have a moratorium in place until the end of October for new consignments. However, the overall consignment quality with CAC approvals well matched GFRC's operating sweet spot and was just too good to pass up. The Titan Collection consignment arrived on Friday and contains some wonderful eye candy. The absolute highlight is an amazing 1818/5 PCGS AU58+ CAC Capped Bust quarter that frankly should not exit in this preservation state. This piece has a hammered strike with light crusty golden-gray patina and eye appeal that is out of this world. Serious PCGS box of 20 collectors should step up and put this offering away as a long term hold.

Twin Lakes Collection - Pricing Reductions

The Twin Lakes Collection consignment is an aggressive business person and is planning an expansion that will require incremental capital in the coming months. He wants his aging consigned coins sold towards helping with capital funding. GFRC immediately went in action and dropped prices on about 25 coins. Many are Capped Bust halves at the AU58 grade level. These pieces must find new homes before the end of the year. Below is a sampling of Twin Lakes offerings that saw price reductions. Fair offers are solicited and welcomed towards converting these coins into new working capital.

Twin Lakes Collection - Pricing Reduction Highlights

    1829 O-111 PCGS AU58 50C - Reduced to $815                         1830 Sm 0 O-103 PCGS AU58 50C - Reduced to $715

    

1833 Large 0 O-123 PCGS AU58 50C - Reduced to $800                     1831 O-104 PCGS AU58 50C - Reduced to $810    

    

1833 O-112 PCGS AU58 50C - Reduced to $775                               1834 O-114 PCGS AU58 50C - Reduced to $715

    

 

Wrapping Up The Blog

The 8:00 am publishing time has arrived and time to hit the upload button. Another busy day is calling me and best to get started with a health walk before road traffic increases.

I will be in the office a portion of the day otherwise working outdoors. The cellphone will be in my pocket, and if not operating a chain saw, I will be responding. Every order is precious including those for Twin Lakes Collection items. Email orders will also be monitored and responded to on a timely basis.

Thank-you for visiting the Blog on a Sunday morning.

 

 

 

October 12, 2019

More Dr. Glenn Peterson Liberty Seated Half Dimes

Greetings and welcome to the weekend! It is time for another Blog edition.

What can I possibly discuss on a Saturday morning that has not been previously covered in the Blog? How about the start of a typical GFRC office day?

After five plus years, the Daily Blog is a lifestyle. Mornings start at 5:30 am with breakfast preparations. Now that I'm constantly exercising and eating healthier, breakfast has migrated to salads with a touch of meat protein. Of course, there is a hot cup of coffee to help stimulate creativity. By 5:45 am, or there about, I'm in the GFRC office and reading. Quick tours of financial newletters and Seth Godin are mandatory. As a special treat, the prior evening's opening Tucker Carlson segment on FOX is taken in. At that point, the coffee has had its effect and the keyboard is stroked with the day's thoughts. I'm never quite sure of the topic upon arising from bed but somehow, the Blog is always composed and readership is maintained.

The Blog has had a profound impact on my life. Self awareness, time management and continuous attention to global events are mandatory. Writing skills have improved thanks to the mentorship of the kind New Hampshire Collection consignor who acted as my editor for months. It was a selfless gift and he will always be remembered. Since my old version of Dreamweaver lacked a spell checker, Google was a convenient method for checking the spelling of challenging words. Google is also employed for locating synonyms towards an expanded vocabulary. The end result is an enhanced writing skill that has alluded me for years. Success in life is nothing more than a few simple disciplines practiced each day. The challenge lies with the initial decision followed by initiative that is sustained by perseverence. The same initiative and perseverence that brought about The Definitive Resource for Liberty Seated Dime Variety Collectors presently fuels the Daily Blog.

Have I made sacrifices for this lifestyle? Sure! I'm a blank sheet of paper concerning modern pop culture, TV shows or college sports. In most social gatherings that involve modern culture, I will just smile and listen to conversations. The intense focus on numismatics, geopolitical events and global finance comes at the cost of ignored local events and modern culture. I never watch daytime or evening television. Luckily, the new basement sound system and Tidal opened a window into wide ranging musical genres. Once again, I 'm thoroughly comfortable spending late evenings exploring new musical worlds.

Enough on this topic, there was just a need to share as I had little else prepared.

 

Emptying the Dr. Peterson Liberty Seated Half Dime Dansco

Setting priorities and managing the substantial GFRC consignment backlog is challenging. I've extended commitments to many collectors and promised to market and sell their coins. Once a commitment is made, the execution is paramount. Emptying Dansco albums is probably one of the more difficult challenges. Raw coins must be graded and surface conditions assessed. Die variety attributions take time. Price setting requires more contemplation as the coins are raw, which typically mean reduced market demand unless a super cool die variety. Emptying Dansco albums is a niche process as compared to insourcing and processing quality TPG certified coins. But the commitment was extended therefore we continue to work through the backlog.

Following is yet another Dr. Glenn Peterson client gallery. Steady progress is being made with the sale of his Liberty Seated half dime collection. Today brings another ten pieces for your consideration. Look for these to reach the price list by the end of the day.

More Dr. Glenn Peterson Liberty Seated Half Dimes

1859 V-2 Raw AU58 5C

   1854-O V-5 Raw EF45 5C                     1855 V-7 7 Stripe Shield Raw EF40 5C                        1855-O Raw EF40 5C      

            

 1856-O V-10 Lg O Raw AU58 5C                      1856-O V-4 RPD Raw AU55 5C                   1857 V-1 Old Hub Raw AU50 5C

            

    1857-O V-1 Old Hub Raw EF45 5C                   1858 V-? RPD Raw VF20 5C                  1858 Over Inverted Date Raw F12 Raw 5C

            

 

Upcoming at GFRC?

Next in the GFRC consignment queue is a large group of Liberty Seated dimes from my own reference collection. It is important to balance GFRC offerings across the many product lines to keep a broad based clientelle engaged. We've recently rolled out a substantial amount of Barber quarters, U.S. gold, and today's Liberty Seated half dimes. I feel comfortable allocating several days of processing time towards a major Liberty Seated dime die variety offering with most being web-book plate coins. If all goes to plan, the sharing of a huge Libety Seated Dime client gallery will take place by the middle of next week. Complicating this sale will be the many FRoRs that are "on the books" and not upsetting loyal GFRC clients during the decision process of who gets first shot on each coin.

 

Wrapping Up The Blog

Saturday morning brings the usual packing and shipping prior to Doug The Mailman's arrival to the front door at roughly 11:30 am. It will be a cold and wet southern Maine day and best to start the wood stove early. Writing descriptions for the unsold Twin Lakes Collection offerings and the Dr. Peterson half dimes should keep me out of trouble until dinner time.

A sincere thank-you goes out to the many of you who stop by daily to take in these ramblings. Yes, it is obvious that I will be in the office all day and available for your numismatic purchases. Please remember that consignors are trusting me to sell their divested items. Your help and support would be greatly appreciated from the purchasing side.

Wishing eveyone a pleasant Autumn weekend as this Blog edition concludes.....

 

 

 

October 11, 2019

Mark Mattox (Alexandria) Collection Arrives

and

Twin Lakes Collection Consignment - Time for FRoRs

Greetings and welcome to the Blog on a Friday morning. I'm glad you could stop by!

Thick clouds and rain will covers southern Maine during the next 48 hours. Already, a cold wind is howling through the front yard trees and stirs thoughts of the forthcoming winter. Starting the woodstove will be on the agenda after the Blog is published.

There is a fair amount of fresh Blog contents today. Therefore I promised not to visit with Seth Godin in this edition....

 

Mark Mattox (Alexandria) Collection Consignment Arrived Safely

The major news of the day is the timely and safe arrival of the balance of Mark Mattox's numismatic estate on Thursday. Mark's consignments were previously sold as the Alexandria Collection before his untimely passing several yeara ago.

Doug The Mailman was puzzled when delivering a very heavy USPS Priority box without Signature Confirmation. The 2 Day Priority box was jam packed with coins to the point of having one edge tear. I explained the situation to Doug and he just shook his head about the Indiana USPS counter attendant who provide terrible packing and shipping advice to Rhonda Mattox. This event is now in the past, but an important learning opportunity for the GFRC community, and those who read the Blog. My message is clear; please walk away from a USPS mailing station if the attendant refuses to follow GFRC's carefully detailed shipping instructions. Rhonda Mattox and GFRC were fortunate that the box did not split open, and once the contents were recognized, pocketed by an unscrupulous individual.

After wrapping up the posting of the latest Twin Lakes Collection client gallery, my last task of the day was unloading the Mattox consignment. It is my pleasure and duty to support Rhonda to ensure that she realizes the maximum benefit from Mark's cherished collections. This I will do with passion for any widow who approaches GFRC for help.

Why was the 2 Day Priority box so heavy? There was much more gold along with silver pieces in the shipment than first communicated. I was expecting Mark's nineteen piece U.S. gold type set. Instead, there were thirty-one slabbed gold pieces in the shipment. The additional twelve coins were mostly $10 eagles in AU58 through MS62 grades. The box also contained roughly fifty PCGS graded Mercury dimes ranging from MS63 to MS67 with many being Full Bands. The 1916-D is a choice original G04 and very attractive at the assigned grade. Along with the thirty-one gold pieces and Mercury dimes were other Mint State type coins that filled another PCGS blue box.

There are several immediate priorities. My plan is to review the Mercury dime collection and submit to CAC. Nearly all are housed in PCGS Gen 6.0 holders and appear to have been recently graded before Mark's passing. Mark had an excellent eye as the Mercury dimes are well matched with brilliant frosty luster. In parallel, I will be processing the thirty-one gold pieces in time for marketing and sale prior to the Winter Whitman Baltimore show. There are many great gold offerings to be had in the U.S. gold consignment.

 

Special Daily Blog Feedback

An email arrived from a long time GFRC customer who collects U.S. gold last evening. The email was entitled, "Blog Stray" and touched my heart. The sharing of my life via the Blog is having an impact. Communicating the joys of the new Focal/Naim sound system and the rediscovery of 1970s recordings motivated a GFRC friend to secure high tech hearing aids leading to the rediscovery of his memorable recordings. There is not much else to say. The email speaks for itself.

Just a note to encourage you with the blog...not necessarily coins, or PC.

Your few notes on the high end sound system got me going despite hearing impaired.

Music has always been a huge thing in my life. For, like 60 years.

So... Read your sound stuff. Got me fired up. Went out and got some really high zoot digital hearing aids. Over-samples, read in sound, projected fake notes that work,etc.

Then, I did get some basic stereo audio. Reasonably good high end Klipsch towers, More than decent Thorens turntable. Still have some high end receivers, drivers.

And...in the completely sound isolated basement it all works, again. Gotta make sure no background sounds are present. Sure as hell does not work on car sound as hearing aids incorporate the road noise.

Damn. Everything from old Rock-a-Billy vinyl to Graceland to Warren Zevon comes in, again. The gamut of everything good from about 1000 old vinyls.

Super digital hearing aids listening to analog in a controlled sound environment. Give It a Name.

A monster. I see streaming devices and super sound in my future.

This could cut into some coin revenue for you and a couple dealers. Good beer and decent sound will take rare coin money.

So...feel free on your blog to stray from the coin subject.

But keep on truckin' on the blog.

 

Twin Lakes Collection Consignment - Time for FRoRs

Thursday's overriding priority was Twin Lakes Collection image processing. I worked on Twin Lakes latest consignment through most of the day and posted the gallery at 8:30 pm. Following is the client gallery that includes a host of Barber quarter duplicates. Yes, Twin Lakes was a substantial buyer of Labelman87's Barber quarters resulting in a large group of duplicates being offered today. All pieces, in this consignment, are graded PCGS AU58 other than the 1852 Seated quarter which is PCGS AU55.

The consignment highlight is a naturally toned and choice original 1923-S PCGS AU58FH Standing Liberty quarter. Surfaces are uniform steely gray along with a hammered strike. The 1855 3 Cent silver has the lowest mintage of any date from the 1850 and all dates up through 1863. It is one of the more valuable pieces in a 3 Cent silver date set. The 1874-S Seated dime is a frosty white F-102 early die state strike as the reverse devices are well defined. Barber quarters make up most of the offerings and an opportunity for AU58 grade collectors.

First Rights of Refusals are solicted and welcomed. Today's goal is to load the Twin Lakes consignment into the COIN system followed by pricing each offering. If all goes to plan, a few may reach the price list by evening time.

Twin Lakes Collection - Quality PCGS AU58 Duplicates

1923-S PCGS AU58FH 25C

           1855 PCGS AU58 3CS                                                            1874-S Arrows PCGS AU58 10C

    

     1904-O PCGS AU58 25C                                                                  1912-S PCGS AU58 25C

    

 1865 Fancy 5 PCGS AU58 1C                             1900-S PCGS AU58 10C                               1852 PCGS AU55 25C   

            

 1894-O PCGS AU58 OGH 25C                            1895 PCGS AU58 25C                                1901 PCGS AU58 OGH 25C

            

 1902-O PCGS AU58 OGH 25C                             1905 PCGS AU58 25C                                  1907-O PCGS AU58 25C   

            

   1908 PCGS AU58 OGH 25C                              1908-D PCGS AU58 25C                              1912 PCGS AU58 CAC 25C

            

     1915 PCGS AU58 25C                                 1915-D PCGS AU58 25C                          1945-S DDO PCGS AU58 25C

            

 

Global Financial News

World-wide equity markets are in rally mode based on a China - U.S. trade negotiation statement by President Trump. The following Seeking Alpha headline captures the optimism.

U.S. stock index futures are looking to build on yesterday's gains, with Dow futures ahead by 244 points, and the S&P 500 and Nasdaq up 0.9% and 1.1%, respectively. President Trump said trade talks between U.S. and Chinese officials on Thursday went very well, assuaging fears about a potential lack of progress before another meeting later today. Many are also looking out for a currency agreement, which could lead the U.S. administration to rescind a tariff rate hike scheduled for Oct. 15.

Crude oil prices jumped overnight to $54.61 per barrel as the result of an Iranian oil tanker being hit by two rockets. Once again, Seeking Alpha documents the news as follows;

Oil prices rose 2% to $54.61/bbl overnight after Iranian officials said two rockets had struck a tanker belonging to the National Iranian Oil Company traveling through the Red Sea. The tanker is now ablaze off the Saudi port city of Jeddah, with investigators looking into the sources of the missiles. Recent attacks in the region have centered on crude facilities and tankers, including a drone-and-cruise-missile strike that halved Saudi Arabia's output and mysterious attacks on oil tankers near the Strait of Hormuz.

Spot gold has pulled back to $1499/oz on trade negotiation optimism while Bitcoin decreased to $8390/coin. The 10 Year U.S Treasury bond yield moved up to 1.68% as monies are moving away from safety and towards the risk on trade.

The International Energy Agency cuts global oil demand outlook for a second time in two months.

"We expect growth in 2019 to be the weakest since 2016, following evidence of a slowdown in several major consuming regions and countries," according to the International Energy Agency. Demand growth estimates for 2019 were reduced by 65,000 barrels a day to 1M, while 2020 forecasts fell by 105K bpd to 1.2M. Cutting the figures for the second consecutive month, IEA's revisions will add pressure on OPEC and its allies to make deeper output cuts in November.

 

Wrapping Up The Blog

Friday brings another long day in the GFRC office. Once the Twin Lakes Collection consignment is posted to the price list, attention will shift to posting about ten Liberty Seated half dimes from Dr. Peterson's Dansco album. These have been photographed and will please fans of the series; many nice original AU offerings and cool die varieties. Next in the GFRC queue is a major consignment from the Gerry Fortin Liberty Seated dime reference collection.

Sunday appears to be the next opportunity to photograph the U.S. gold portion of the Mark Mattox Collection.

Thanks again for stopping by at the Blog and please consider a numismatic purchase. I will be back bright and early on Saturday with more ramblings.

 

 

 

October 10, 2019

1864 Masonic Engraved Half Dollar Consignment

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

I wish the hands of time could be slowed as the GFRC agenda is always packed with fresh and exciting activities. More time would allow for the incremental exploration of cool consignments and associated learning opportunites. Time provide meaning to our lives as there is so little with regards to the endless exploration opportunities. Decision must be made as to where our precious time is allocated. (Were you expecting another opening Blog commentary on southern Maine weather?)

Wednesday brought a thoroughly busy day with all Oregon Beaver and NH Coin Expo new purchases posted to the price list. Sales were robust with a flurry of phone call and email orders. Several coins saw multiple orders with the need to correspond with those asking for First Rights of Refusals and securing play/pass decisions. Those decisions arrived during the late evening hours allowing the generation of invoices after today's Blog is published.

Little is prepared for today's Blog as I decided to take a break after cooking salmon burgers on the grill for Wednesday's dinner. A tired mind dictated a dose of basement sound room music before an early time to bed. Loreena McKennitt's The Book of Secrets was a wonderful recording to close down another day in a busy life.

 

Seth Godin's Blog: Initiative

Since needing some filler content for today's edition, I went off to Seth Godin's Blog website to check his latest ramblings. Today's post on initiatve, it's a self-renewing resource brought a chuckle as timely and consistent with how the GFRC business is operated. I seldom wait to get called on or fit in.

Initiative

The only way to get initiative is to take it. It’s never given.

And some people hesitate to take it, perhaps because they’re worried that we’ll somehow run out.

We’re not going to run out. It’s a self-renewing resource.

From an early age, most of us were taught to avoid it. Do your homework. Take out the trash. Wait to get picked. Wait to get called on. Become popular. Fit in. Maybe stand out, but just a little bit. Failure is far worse than not trying.

The alternative is to take some initiative. On behalf of those you seek to serve.

Go ahead, there’s plenty to go around.

 

Update: Mark Mattox Gold Type Set Consignment

I've been tracking the USPS 2 Day Priority shipment of Mark Mattox's U.S. gold type set on a continuing basis on behalf of his widow, Rhonda Mattox. The package arrived promptly to the Scarborough, Maine distribution center a little after midnight and is forecasted to be delivered to the GFRC office by noon time. Let's hope for smooth passage during the last 35 mile journey.

There are several GFRC clients who requested FRoRs on select pieces in Mark's gold type set collection. Please help me out and identify yourselves again since it has taken an extended period of time for Rhonda to prepare and bring about this consignment transfer.

 

1864 Masonic Engraved Half Dollar - Coney Collection Consignment

Next on the consignment backlog is an wonderful 1864 Masonic engraved Liberty Seated half dollar from the Coney Collection. Below are fresh images.

Len Augsburger provided background on the engraving of 1864 Masonic Seated halves in the June 2014 E-Gobrecht publication by the Liberty Seated Collectors Club. This issue and Len's commentary can be found on the Newman Numismatic Portal at this link. Paraphrasing from Len's article;

The reverse is inscribed "Taken from the ruins of Masonic Temple / April 6th 1864" and refers to a fire that destroyed the Boston Masonic Temple in 1864. Masonry was popular during the earlier days of our country with large Masonic temples located in major U.S. cities. Once the Boston temple burnt, a new temple was rebuild on the same site. Relics were taken from the old temple including silver items and delivered to the Philadelphia Mint to be coined into half dollars.

The newly consigned Coney Collection piece falls into the category of a relic coin, where the source of the bullion is well-known. There are about a dozen known examples of the "Masonic" half dollars.

The obverse is engraved "Isaiah Woodbury / Boston Encampment". This piece is worn with even gray surfaces. There is already one FRoR on the piece. My challenge is establishing a fair asking price with the consignor during the next few days.

 

Global Financial News

Equities traders are being whiplashed by on and off again optimism concerning U.S. - China trade talks. For readers who might be interested in Seeking Alpha commentary on this subject, please check the following headline. Frankly, I believe the talks are going no where soon as both sides are firmly entrenched with their positions. U.S. companies are re-evaluating their business structure in mainland China while the Beijing Central Government cannot lose "face" by agreeing to U.S. demands.

Day (or night) traders are having a field day as headlines grab hold of market sentiment. While U.S. stocks rallied Wednesday on trade optimism, futures fell sharply after the close on reports that high-level trade talks between the U.S. and China - scheduled for today and tomorrow in Washington - might be cut short. A volatile session then ensued, with futures now back at the starting line. Among the rumors: There has been no change to the negotiation schedule, next week's tariff hike could be suspended, concessions may be announced for blacklisted Huawei, a currency pact is underway, a partial trade deal is in the works and Beijing is offering to increase agricultural purchases.

Meanwhile, the United States economy continues to chug along at a reasonable pace as compared to the European Union and that of China. Commodities and the long bond interest rate are mostly flat. Spot gold inched up ever so slightly to $1513/oz while crude oil pulled back slightly to $52.28/bbl. Bitcon is starting to rally again with an increase to $8501/coin but don't ask me for an explanation on what is driving crytocurrency speculation. The 10 Year U.S. Treasury bond yields is also flat at 1.59%.

The balance of today's Seeking Alpha headlines are very company specific and not consistent with what I enjoy sharing in the Blog. Let's punt and move on as the 8:00 am publishing time approaches.

 

Wrapping Up The Blog

Yes, it is already Thursday! I will be in the GFRC office the entire day either shipping orders, taking receipt of the Rhonda Mattox consignment shipment (with a sigh of relief), and processing Twin Lakes Collection consignment images. If all goes to plan, the Twin Lakes images will be published as a new client gallery before heading to bed.

Thank-you for checking in and absorbing these ramblings. See you tomorrow at the Blog.

 

 

 

October 9, 2019

Great U.S. Gold Type - NH Coin Expo New Purchases

Greetings on a Wednesday morning and welcome to another Blog edition.

Yes, the change of seasons is moving along rapidly as evidenced by the pitch black darkness outside the GFRC office window at 6:30 am. Southern Maine foilage colors are readily apparent and probably another week away from peak display. Temperatures remain seasonal which means the wood stove continues to be idle. Following is an image taken Tuesday late afternoon of the backyard illustrating seasonal color status. The beautiful blue spruce is the only non native tree in the image. All others are natural as found when purchasing the property back in 1984.

Southern Maine Autumn Colors - October 8, 2019

 

Seriously Bad Advice From USPS Counter Person

By now, GFRC clients are aware that consignments can be shipped to the Maine (or Florida) office utilizing GFRC's Hugh Woods business insurance. Two Day USPS Priority boxes are insured up to $5000 and Express Priority boxes up to $50,000. This is another courtesy provided to clients to simplify their numismatic property transfers. For the insurance to be in place and valid, there are two critical compliance parameters. First is the generation of an invoice to GFRC that itemizes the package contents and their stated insured value. Second is Signature Confirmation upon receipt.

I'm discussing this matter due to an unfortunate event that took place on Tuesday concerning the USPS shipment of Mark Mattox's gold type set and Mercury dimes by his wife, Rhonda. The shipment value was estimated at $30,000 with GFRC preparing the detailed documentation on behalf of the client. The Express Priority mailing form was photographed by Rhonda and approved by me prior to her visit to a local post office outlet. Once there, the counter staff changed the shipment method with Rhonda unable to defend herself due to lack of knowledge of shipping methods and associated insurance coverage. To make a long story short, her shipment went out Two Day Priority with no Signature Confirmation. As a result, the contents valued at $30,000 are insured to only $50 during transport.

The situation with Rhonda Mattox is not unique. There have been several other cases of GFRC clients visiting a local post office with Express Priority shipments only to have that method declined and redirected by counter staff. The time has come to address this matter in the Blog due to the varying experience and knowledge levels of USPS counter staff across the United States.

Following are key points to remember when walking into a USPS mailing station.

- GFRC has worked closely with clients towards preparing them for the correct USPS transport method that guarantees business insurance coverage. A change in plan by the USPS counter staff should be an immediate red flag.

- Clients should never give any information concerning package contents or their value to the USPS counter staff. Just answer yes/no to the questions concerning restricted items. Please do not share the numismatic nature of the contents as unwise.

- Always decline the USPS counter staff requests for additional insurance. USPS secures additional revenues by attempting to sell higher insurance levels. Believe me, when it comes time to make a USPS insurance claim, it is like pulling teeth to get compensated. GFRC's Hugh Woods insurance carrier is professional and prompt during the claims process.

- All shipments to GFRC must be accomplished with Signature Comfirmation. I can't stress this point enough. If there is no signature confirmation, there is not insurance coverage from GFRC's Hugh Woods. It is the client's responsibility to secure signature confirmation.

- Finally, if at a USPS mailing station and the counter staff refused to support your pre-arranged shipping method, please attempt to call me immediately. I would be happy to speak directly with the USPS counter staff and will instruct them on the exact shipment requirements. If they refuse to speak with me or to follow a client's shipping requirements, then walk away. We can regroup and make a second attempt.

 

GFRC Photography Update

Tuesday brought enough Maine sunshine to accomplish overdue photography needs. Sunlight conditions were not optimum but still workable.

U.S. gold type coin purchases made at the NH Coin Expo and the Twin Lakes Collection consignment were photographed before clouds rolled in. I worked late into the evening to process the below images for today's Blog. Twin Lakes images were be processed today as the number of First Right of Refusals is growing and must be serviced while fresh on everyone's mind.

 

NH Coin Expo New Purchases - Great U.S. Gold Type

GFRC sales of better United States gold continue to increase. Replacing sold inventory is always a challenge. While at the NH Coin Expo, one of my priorities was locating top quality U.S. gold with CAC approvals preferred. There was ample capital available to purchase more gold inventory but GFRC's strict quality requirements limited acquistions. The NH Coin Expo purchases fall in to the type coin category which is acceptable as many collectors limit their gold numismatic adventures to type sets due to cost. I'm pleased to be sharing the following items that will arrive to the price list today. First Rights of Refusal are recommeded as inquiries have already begun arriving during the overnight hours.

NH Coin Expo New Purchases - Great U.S. Gold Type

1909-D PCGS MS64 CAC G$5                                                   1932 PCGS MS64+ CAC G$10

    

      1852 PCGS AU55 OGH G$1                     1873 Open 3 PCGS AU55 OGH G$1                 1911 PCGS MS63 CAC G$2.5      

            

       1926 PCGS MS 64 CAC G$2.5               1901-S PCGS MS62 CAC Rattler G$10

       

 

Global Financial News

Global markets are awash in optimism and flashing green futures. I'm befuddled by the optimism but this is the nature of equity traders. Once markets are beaten down or oversold, technical traders jump in for quick short term gains.

Commodities and the long bond rate are stable on a Wednesday morning. Crude oil is priced at $52.87/bbl with lower prices starting to appear at my local gas station. 87 grade unleaded is now priced at $2.49/gallon. Spot gold prices are flat with the latest quote being $1508/oz. Bitcoin is up slightly to $8213/coin. The 10 Year U.S. Treasury bond yield reflects current optimism with a slight increase to 1.55%

U.K. Prime Minister Boris Johnson is in trouble with his no-deal Brexit attempt per this Seeking Alpha headline.

U.K. Prime Minister Boris Johnson faces a rebellion in his cabinet, as a group of ministers are poised to quit amid concerns that he’s leading the country towards a no-deal Brexit, The Times reports, citing an unnamed cabinet member. Among those on a “resignation watchlist” are British Minister for Northern Ireland Julian Smith, Culture Secretary Nicky Morgan, Justice Secretary Robert Buckland, Attorney General Geoffrey Cox, and Health Minister Matt Hancock.

 

Wrapping Up The Blog

Wednesday brings another day in the GFRC office. Today's shipping is light which means more time to post new items to the price list coupled with image processing.

Thank-you for stopping by at the Blog. I look forward to your purchase inquiries.

 

 

 

 

October 8, 2019

Here Come The Consignments: Oregon Beaver $2.5 Gold Plus Other Offerings

and

2018-2019 Daily Blog Archives on the Newman Numismatic Portal

Greetings and welcome to the Blog. It is a double headline morning!

The southern Maine weather forecast continues to be dynamic. The latest update indicates sun and clouds for today and Wednesday which is a good thing. Temperatures will be seasonal negating the need to fire up the wood stove. The photography queue is well over thirty coins with orders beginning to arrive for the bullion gold lot (posted without images) and Manchester NH new purchases. About 25% of the new Twin Lakes Collection consignment is on FRoR therefore securing images is important.

 

Seth Godin: Narratives about modernity

Before sharing the Newman Numismatic Portal news of the day, I'd like to share a recent blogpost by Seth Godin. Godin reminds us of the negative implications of modern information media. Those of us, with a lifetime of wisdom, can see through the modern media's emotional manipulation. Unfortunately, the youngest among us lacks those life experiences for decoding media operating psychology and manipulation. Godin conveys a serious message of long term unhappiness driven by online media. Use at your own emotional risk should be a legally required disclaimer.

Narratives about modernity

If we give an isolated community access to the internet, very quickly, the quality of life will improve. Time will be saved, research into proven solutions will produce value, and people will become connected to a larger population. Those connections will lead to productivity and learning.

And, then, soon thereafter, they will become less happy.

Not because they’re worse off, but because the dominant media narratives that arrive exist to make them feel insufficient, inadequate or simply jealous at how green the grass is over there.


Our narrative defeats our surroundings, every time.

 

2018-2019 Daily Blog Archives on the Newman Numismatic Portal (NNP)

Len Augsburger made short work of GFRC's Daily Blog insourcing and postings on the Newman Numismatic Portal. Last evening brought an email announcing the 2018 and 2019 Daily Blog Archives were already available for review. The Archives are posted as monthly files and can be found at the following link or clicking on the NNP display image.

Accessing GFRC Daily Blog Archives at the Newman Numismatic Portal

https://nnp.wustl.edu/library/publisherdetail/534276

Potential readers should take note of two issues.

- Monthly Blog Archive files read from the last day of the month, down to the first day of the month. Len made this note in the introduction.

- Second is that the monthly Daily Blog files can be searched within a specific file but the Newman Numismatic Portal has a limiitation for searching keywords across multiple or all monthly files. A solution for this issue is being developed.

Now that the 2018 and 2019 monthly Blogs are published, I am committing to reviewing the 2017 files and will scrub any political items before handling over to Len. This activity should be accomplished in the next 10 days or so.

Moving forward, incremental monthly Daily Blog file will be transferred to the NNP for loading.

A sincere thank-you goes out to Gerry Tebben for suggesting the idea and to Len Augsburger for the rapid implementation.

 

Here Come The Consignments: Oregon Beaver $2.5 Gold Plus Other Offerings

The Oregon Beaver Collection is back with a substantial consignment that warrants serious attention. This numismatist is well known for his Liberty Seated half dollar set that is posted on the GFRC Open Set Registry. This set currently ranks #2 with a 99% completion rating (lacks only the 1878-S) and a 56.6 weighted grade.

This individual is also a passionate collector of United States gold and Liberty $2.5 quarter eagles. The $2.5 gold denomination is replete with low mintage Philadelphia and branch mint dates and could be considered a numismatic arena of compelling values. GFRC is thrilled to be offering nine $2.5 gold quarter eagles in the below client gallery. The showcased 1856-O NGC AU55 specimen with CAC approval sports a tiny mintage of 21,100 pieces while the 1889 in near-gem mint state, also with CAC approval, is from 17,600 struck. The prize for lowest number struck, in this offered lot, is the 1894 PCGS AU55 at 4,000 pieces!

But there is more! The 1849 and 1881 Seated halves are wonderfully choice specimens with CAC approval and should not last long on the price list. Several Barber halves round out the consignment.

Look for these Oregon Beaver properties to be posted to the price list by end of day. First Rights of Refusals are suggested and welcomed. How can you resist an 1894 PCGS AU55 $2.5 quarter eagle with mintage of 4,000 at an offer price of only $515. Talk about long term value!

Oregon Beaver $2.5 Gold Consignment Plus Other Offerings

  1856-O NGC AU55 CAC G$2.5                                                      1889 PCGS MS64 CAC G$2.5

    

        1849 PCGS AU50 CAC 50C                          1881 PCGS VF35 CAC 50C                            1897-O Raw AU Details 50C     

            

    1906-D PCGS AU58 50C                           1911-S PCGS VF35 CAC 50C                        1848-D PCGS AU53 G$2.5

        

  1857-S PCGS AU53 G$2.5                          1872 PCGS EF Details G$2.5                         1873-S PCGS AU58 G$2.5

        

         1894 PCGS AU55 G$2.5                         1897 PCGS MS63 CAC G$2.5                      1900 PCGS MS64+ CAC G$2.5

        

 

Global Financial News

United States and China political tensions are increasing due to a trade war, China's move towards global 5G technology dominance and the ongoing protests in Hong Kong. Seeking Alpha headlines present a broad-based review of current issues. But first a look at our usual commodities and long bond rate.

Physical gold prices have stabilized and are consolidating within a tight trading range at the $1495 - $1515 level. In my mind, this is a positive development that allows world makets and consumers an adjustment period for higher gold prices. Crude oil supplies remain abundant with the black gold quoting at $52.48/bbl. Bitcoin is priced at $8167/coin to start the day. The U.S 10 Year Treasury yields is flat at 1.53%. The low yield is a reminder of the strength of the U.S. dollar.

The United States has added 28 Chinese entities to the Department of Commerce export blacklist. The Beijing government is not pleased.

The economic war against China is moving in a new direction, though the Trump administration said it's unconnected to trade negotiations set to resume in Washington in the coming days. 28 Chinese entities have been added to an export blacklist due to Beijing's repression of Muslim minorities, a move that will bar them from buying American components without government approval. U.S. stock index futures fell 0.6% following the decision, as China signaled it would hit back over the measures and "urged the U.S. side to immediately correct its mistake."

There is a growing fear that China's Huawei will become the dominant player in the global 5G market.

The U.S. is looking at ways to funnel money to Huawei's European rivals, as officials warn that the Chinese company is becoming dangerously dominant in the global race for 5G, FT reports. Officials have suggested issuing credit to companies such as Nokia and Ericsson to enable them to match the generous financing terms that Huawei offers to its customers. Others have asked U.S. companies Oracle and Cisco whether they would consider entering the radio transmission market, though the companies have warned it would be too expensive and time-consuming to do so.

There is no freedom of speech in mainland China. One must toe the line in the name of national sovereignty or social stability as the NBA Commissioner just learned.

Chinese state television CCTV is suspending current broadcast arrangements for the NBA's pre-season games after NBA Commissioner Adam Silver defended Houston Rockets General Manager Daryl Morey's tweet in support of the Hong Kong protests. "We believe that any speech that challenges national sovereignty and social stability is not within the scope of freedom of speech," CCTV said in a statement. Alibaba and JD.com appear to have also removed items related to the Houston Rockets, while Tencent said it would stop showing Rockets matches and news related to the team.

 

Wrapping Up The Blog

It will be a busy day in the GFRC office. Already, the Oregon Beaver 1881 50c and 1856-O G$2.5 offerings have FRoRs within the past 30 minutes.

It is best to get on with the day as there is a large amount of shipping followed by loading the Oregon Beaver lot to the price list.

Yes, I will be on the office the entire day and looking forward to your purchase requests. Thank-you for checking in at the Blog!

 

 

 

October 7, 2019

Here Come The Consignments: Murphys Collection Leading Off

Greetings and welcome to the first full week in October. Please accept my sincere thanks for dropping by at the Blog.

Southern Maine will see gloomy conditions and rains throughout the day. However, temperatures have been rising during the arrival of the "cold front" and will peak at nearly 70F. Looks like I will be ditching sweatpants for shorts as today's GFRC office attire. The weather forecast for the balance of the week remains dynamic. The latest forecast calls for partly cloudy conditions on Tuesday and Wednesday. Let's hope for a one hour period of sun on either day to enable the photographing of recently purchased U.S. gold and the Twin Lakes Collection consignment.

As Monday arrives, there is nothing to distract me from a full court press on consignment image processing and price list updates. I'm committed to making a substantial dent into the consignment backlog and preparing a huge amount of new inventory for the Winter Baltimore show that takes place on November 14 through 17. GFRC inventory will be displayed across thirteen cases at double corner tables. The regular GFRC staff will be in town including Diane, Dan and Rose Marie.

 

2018 - 2019 Daily Blog Archives on Newman Numismatic Portal (NNP)

Last evening brought email contact with Len Augsburger on a strategy for releasing the 2018 - 2019 Daily Blog Archives to the NNP. The current plan is for GFRC to provide Hostway server links to the monthly archived Blogs. Len will employ a webcrawling search application to source the images files that are linked within each monthly Blog file. I will keep Blog readers posted on the progress as many of you are looking forward to gaining access to nearly two years of past Blog ramblings.

Once a capture and insourcing process is developed for the 2018 - 2019 archives, I've committed to scrub the 2017 archives and will also release those to Len for NNP publishing.

 

Here Come The Consignments: Murphys Collection Leading Off

First up in the GFRC consignment queue is a five piece Carson City coinage offering from the Murphys Collection. Many collectors enjoy the attraction of coinage produced at the historical Carson City mint as does the Murphys consignor. This individal has a substantial collection and decided it was time to begin slow divestment for home updating projects.

There are some cool items in today's client gallery. The highlight is an attractive 1880-CC $10 eagle graded PCGS AU53. Mintage is only 11,190 struck with nineteen certified at the AU53 grade level. The offering of an 1875-CC Liberty Seated half dollar graded NGC AU55 should also attract attention. This example is perfectly original with thick crusty patina on both sides. No one has every messed with this piece of silver. If Trade Dollars are your cup of tea, then how about an original gray 1876-CC example with the prized double die reverse? The last offering is the first 1878-CC rotated reverse Morgan, in Mint States condition, that GFRC has handles. We've sold a few in lower circulated grades but not a lovely MS62 example. The PCGS label captures the rotated reverse and certifies the coin as a mint error. By the way, mint errors are not eligible for CAC review. They are also not captured by PCGS with a separate attribution number as is done with VAMs. Therefore, please do not ask me if this one has been to CAC.

Pricing censensus will be reached with the consignor this morning. Look for this lot to reach the price list by early afternoon.

Carson City Offerings from the Murphys Collection

1880-CC PCGS AU53 G$10

1875-CC WB-10 NGC AU55 50C                                                   1876-CC WB-25 PCGS VF30 50C

    

                 1876-CC DDR PCGS VF30 $1                                            1878-CC 55 Deg Rotated Rev PCGS MS62 $1

    

 

Oregon Beaver Collection Consignment Next in the Queue

I worked into Sunday evening loading the latest Oregon Beaver Collection consignment into the COIN system coupled with first pass pricing. Recommended offer prices have been submitted to the consignor for consensus agreement by end of day. If all goes to plan, images will be processed during the afternoon hours and available for review as a Blog client gallery after dinner time.

Once the Oregon Beaver consignment is posted to the price list, Maine weather will dictate next steps. If I can get some photography done, GFRC gold and Twin Lakes' new consignment will be next. If the weather does not cooperate, then attention shifts to the long overdue 1875-CC through 1877-CC Liberty Seated dime die varieties from my reference collection.

 

Global Financial News

A new trading week opens with global equity markets being mixed. The China 70th Anniversary of the Communist Party holiday week ends today with their financial markets opening on Tuesday. All eyes will be on the Hong Kong market as protests continue. China - U.S. trade talks may continue with low expectations. The Communist party is not ready to give up its playbook for acquiring western technologies on the cheap. President Trump appears to be comfortable with a protracted trade war as the desired impact is taking place. Western companies are terminating new investments in mainland China and working to relocate their manufacturing supply chains to other countries.

Commodity prices and the long bond interest rate are stable on a Monday morning. Spot gold pricing is quoting at $1508/oz while crude oil is up slightly at $53.10/bbl. Bitcoin is presently holding the $8000/coin threshold with more bad news arriving for Facebook's Libra project. The 10 Year U.S long bond yield is down to 1.52% indicating that all is not well outside of the United States. Germany's economic situation is a concern for the European Union.

Let's have a look at a few relevant Seeking Alpha headlines on a Monday morning.

Germany's factory slump continues and is weighing on investors. Is a recession for Germany possible?

The data was in focus overnight after a weak reading last month gave weight to concerns that Europe's biggest economy was teetering toward recession. Factory orders slumped by 6.7% Y/Y in August due to the the U.S.-China trade war, the slowdown in the eurozone, and economic problems at home. Last week, a flurry of PMI and ISM reports showed that global manufacturing is shrinking, hitting markets and equites across the globe.

Paypal is withdrawing from Facebook's Libra network.

PayPal is officially withdrawing from the group of companies Facebook had assembled to launch a global crypto-based payments network. Reports first surfaced a week ago that Visa, Mastercard and other partners would reconsider their support following a backlash from U.S. and European government officials. Libra was envisioned to be a way to send money between people and pay for goods and services online, running on a blockchain network backed by a pool of real assets and currencies.

 

Wrapping Up The Blog

The 8:00 am ET publishing time has arrived and best to get on with my day. Looking out the GFRC office window, it appears that the rains have taken a pause. This might be a good time to get the weights out for a quick health walk as skipping workout days due to weather is not in my playbook.

I will be in the GFRC office the entire day and looking forward to your email or phone call purchase orders. There are many great consignor coins on the price list that need to find new homes. Some consignors have signaled pricing flexibility. Why not take a shot at a coin you've been considering? Once November arrives, the numismatic market will pick up and sales will accelerate. Your targeted price list offerings may already be gone prior to the Thanksgiving Black Friday sale.

Thank-you for stopping by at the Blog and wishing everyone a week with good fortunes. I will be back tomorrow with more ramblings and new consignment offerings.

 

 

 

October 6, 2019

Five Uninterrupted Weeks in GFRC Office

Greetting on a peaceful early Sunday morning and welcome to the Blog. I'm glad you've stopped by.

Clear skies and a cold 30F temperature are at hand as we start a new day in southern Maine. Today's forecast calls for some sunshine during the morning hours followed by clouds rolling in during the afternoon along with evening rain. Monday is a wash out along with the upcoming Wednesday through following Monday stretch. You can bet that the GFRC photography department will be prepared today for any brief periods of sunshine to secure images for NH Coin Expo new purchases and the Twin Lakes Collection consignment.

 

NH Coin Expo Day 2 Report

There was a high probability that Saturday would be a museum day at the NH Coin Expo and I was not disappointed. Saturday brought decent show attendance but the clientelle was notably different. Most show attendees were strolling the aisles and taking in the collectibles as if the show was one grand museum. Those that viewed GFRC offerings loved the coins and typically mentioned they were in the market for less expensive items. GFRC made two sales on Saturday. The first was a $150 Indian Cent and the second, an 1876-CC Seated half (Oregon Beaver Collection) that went to another dealer looking for Carson City stocking inventory. By 2:00, the booth was closed and packed. Another Manchester show was in the history books.

Since Saturday brought limited table activity, there was time to stroll the bourse searching for potential new inventory. CAC approved United States gold was the priority and I managed to purchase a four piece lot from a well known wholesaler. GFRC's Manchester show new purchases amounted to nine pieces with only one being a walk up offering. There was a ton of raw coins on the bourse, but with PCGS grading being so conservative these days, my energy for "trying to make coins" is non existent.

Will GFRC be back at the Manchester show next year? Sure, the show is well orchestrated and Friday typically brings decent sales for the expended efforts. Most important is that consignor coins were sold which is the primary mission of the GFRC business model

Look for the GFRC price lists to be updated this morning with sold coins. Now that I'm back in the office, with a robust internet connection, online updates will take place.

 

Five Uninterrupted Weeks in GFRC Office

Now that the Manchester show is behind me, there are five weeks of uninterrupted office time for posting a substantial amount of consigned coins to the price list. What can GFRC customers expect for new offerings during the month of October and early November? I'm glad that you asked! Following is a list of consignments and other items in the GFRC queue. I've decided to build this itemized presentation as a checklist for moving forward.

NH Coin Expo New Purchases + U.S. Gold Lot Trade - Sixteen pieces of quality United States gold across all denominations. Many are CAC approved.

Muphys Collection - Carson City large denomination silver and gold including an 1878-CC Morgan, graded PCGS MS62, with 55 degree CW rotated reverse. The gold piece is an 1880-CC grade PCGS AU53.

Oregon Beaver Collection - A fourteen piece lot including Liberty Seated halves, Barber halves and United States gold. Most important are nine better date gold $2.5 quarter eagles.

Twin Lakes Collection - Twenty PCGS AU58 graded coins with most being Barber quarter duplicates after a substantial Labelman87 purchase.

Gerry Fortin Reference Collection - Nearly forty Liberty Seated dimes with most being 1875-CC through 1877-CC die variety web-book plate coins.

Mark Mattox (Alexandria) Collection - During the Manchester show, I was in communications with Rhoda Mattox. She will be shipping Mark's nineteen piece United States gold type set on Monday along with his high grade Mercury dime collection. Mark passed away several years ago and instructed his wife to wait for my signal for selling his gold type set. With spot gold at $1500/oz and well establish CAC premiums, the time has come to liquidate and secure income for helping Rhonda with living expenses. The Alexandria Collection is the #1 all time gold type set in the GFRC Open Set Registry with seventeen of the nineteen pieces being CAC approved.

White Pine Collection - The White Pine consignor has decided to divest a lot of Liberty Seated coinage to raise capital for Pioneer gold acquisitions. The twenty piece lot is mostly better date Liberty Seated quarters in Fine through Extra Fine grades. Over a third of the coins are CAC approved with some GFRC purchases returning to the price list. This lot should arrive to the GFRC office this week.

Coney Collection - A twenty piece lot of high quality contemporary counterfeits including Liberty Seated, Barber, and United States $5 gold. Most important, from the Coney Collection, is an 1864 Liberty Seated half that is engraved "Taken from the Ruins of the Masonic Temple - April 6 1864. The latter consignment includes a well preserved edition of the Detriot Tribune dated Thursday, September 29, 1864 that discusses the burning of the Masonic temple.

Dr. Glenn Peterson Collection - A focused attempt to complete the emptying of his Liberty Seated half dime Dansco and beginning to source Liberty Seated halves from two additional Dansco albums.

Newtown Collection - The initial offerings of raw Liberty Seated dimes from his Dansco album collection.

I believe this long list of pending consignments will substantiate the need to close the GFRC consignment window until the end of October. My goal is to be posting 8 -10 coins per day moving foward. But first the GFRC office must recover from attending the NH Coin Expo show.

 

Wrapping Up The Blog

Today brings the usual office recovery efforts after attending a large coin show. There are nine double row slab boxes of coins to be filed with inventory that remained behind in the safe. As part of the filing process, each holdered coin must be re-inserted into its protective baseball card plastic sleeve. NH Coin Expo fnancial transactions must be captured in the COIN database so that consignor accounts will be accurate.

Let's hope that clouds don't move in too quickly to allow photography of NH Coin Expo new purchases and the Twin Lakes Collection items.

So ends another edition of the Blog. Time for a fast paced health walk on a cold Sunday morning. Thank-you for stopping by and visiting with me.

 

 

 

October 5, 2019

Strong Sales at the NH Coin Expo

Greeting once again from Manchester NH and welcome to the Blog.

Today's edition will again be brief as little is prepared for sharing.

It is a cold start to the day as current Manchester temperature is a cold 34F with a forecast high of 59 during early afternoon hours. Checking Raymond Maine conditions revealed slightly higher readings due to proximity to the coast. Unfortunately, the seven day forecast for southern Maine is downright ugly. The coming weak with bring only clouds and rain with no periods of sunshine. What a bummer as the Twin Lakes Collection must be photographed along with a U.S. gold lot purchase and other arriving consignment. Luckily, the Murphys and Oregon Beaver consignments were photographed before leaving for Manchester along with the 1875-CC - 1877-CC Liberty Seated dimes from my own reference collection. There is ample material in the queue to keep me busy during the upcoming stretch of dark and wet weather. On a positive note, marginal weather will negate nature's gravitational pull and allow me to completely focus on numismatics including CAC and PCGS submissions. It will be a busy week on the GFRC office.

Seth Godin's Blog: How much is that piece of paper in the window?

With little prepared in advance for today's Blog, my inclination was to visit with Seth Godin and see what might be on his mind. As usual, Seth provides contemporary insight into issues presently facing American society. One perverse issue is the escalating price of university education as students are encouraged to borrow themselves into life stifling debt. Godin takes this issue head on and provides a dose of reality. Learning can be accomplished without attending a prestigious private university with its associated debt. As he points out, modern society and the internet surround us with opportunties to learn at little cost. The learning ownership is up to each of us.

How much is that piece of paper in the window?

Four years at MIT cost about $250,000 all in. Or, you could engage in more than 2,000 of their courses on their site, for free.

What’s the difference?

When you do education, you pay tuition, plus you pay with a focus on compliance. Traditional education requires that students trade in freedom of choice, coerced by tests and exams. And what do you get? You get an ‘A’ and you get a certificate.

The power of that certificate is extraordinary. Students (and their families) will go a lifetime in debt to get that paper. They’ll make choices about time and focus and geography for that paper, ignoring what’s ostensibly possible in exchange for the certainty of acquiring it.

Learning, on the other hand, is self-directed. Learning isn’t about changing our grade, it’s about changing the way we see the world. Learning is voluntary. Learning is always available, and it compounds, because once we’ve acquired it, we can use it again and again.

Many adults in the US read no more than a book a year. That’s because books aren’t assigned after you’ve got your paperwork done.

We’re surrounded by chances to learn, and yet, unless it’s sugarcoated or sold in the guise of earning a scarce credential, most of us would rather click on another link and swipe on another video instead.

The exception: People who have chosen to be high performers. Doctors, athletes, programmers and leaders who choose to make a ruckus understand that continuous learning is at the heart of what they’ll need to do.

“Will this be on the test?” is a question we learn from a young age. If you need to ask that before you encounter useful ideas, you’ve been trapped. It’s never been easier to level up, but the paper isn’t as important as we’ve been led to believe.

A footnote is warranted.

Continuous learning is what gets me out of bed each day. The GFRC business is more than a retirement activity; it is a continuous learning adventure. I launched GFRC with an in depth knowledge of Liberty Seated dimes. During the past five years, I've mastered nearly all Liberty Seated denominatons with Seated dollars being the final study. Handling Capped Bust coinage brought a rapid learning curve for those denominations. Now, I'm venturing into Barber coinage. I enjoy living life with this insatiable appetite for continuous learning and probing new horizons. Numismatics is a broad arena of potential subjects that feeds this personal need. I find motivation when developing working or hands on knowledge (rather than book study) across many designs and denominations.

 

NH Coin Expo Day 1 Report

Let's start the report with a sincere thanks to Ernie Botte for staging another great coin show in Manchester. Ernie has a knack for attention to detail. Accurate rented case counts and lights are always ready upon arrival to the table. Cases are cleaned before being staged on dealer tables. What a novel idea! Security is top notch with armed guards at the entrace checking badges and posted at exit doors. Other security will walk the floor throughout the show. Most important is the low table fees and special Double Tree hotel rates if one books early enough. Online marketing is also well done. There is always ample space for club tables and conference room meetings.

The numismatic hobby is alive and well in northern New England thanks to Ernie and a host of regular dealers who attended the show. Saturday's bourse attendance was robust and continuous. Nearly all dealers reported a strong show and being busy throughout the day. This was the case at the GFRC booth. The Massachusetts Collection consignor and I were engaging customers from about 10:30 am until wrapping up at 5:30 pm. The flow of collectors at the table was steady leaving little downtime for working in the "GFRC office". GFRC sold well into the five figures. Retail transactions dominated sales with a smattering of wholesale transactions. Since being so busy, the only opportunities for leaving the booth were bathroom breaks and stretching legs.

 

Wrapping Up The Blog.

Let's end the Blog here as I must check out of the hotel and drive to the convention center for 8:00 am dealer opening time. The public arrives at 9:00 am.

I will be back on Sunday morning with another Blog edition. Please forgive grammar issues in today's edition as there is no time for proof reading.

See you tomorrow!

 

 

October 4, 2019

Blogging from the NH Coin Expo

Greeting from Manchester NH and welcome an on the road edition of the Blog.

It is a cold and raining to start the day but there is optimism for decent collector attendance at the NH Coin Expo. We will know in just a few hours, won't we?

Today's Blog will be brief as I'm camped out at a hotel remote to the show and need to pack the laptop and drive shortly to the convention center for dealer opening time.

Yesterday's dealer setup was typical and uneventfulful. There are a few new purchases to report as I quickly walked the bourse prior to setting up the GFRC booth. The Massachusetts Collection consignor arranged last evening and his presence will enable me to get away from the table during periods of light floor traffic.

 

Gerry Fortin Core Liberty Seated Dime Set Upgrade

It is not often that an upgrade to my core Liberty Seated Dime date and mintmark takes place. Two weeks ago, I stumbled onto an 1869-S PCGS MS66 dime that arrived on the market after the Long Beach show. The dealer is well known to me and I immediately made the purchase. This date is very difficult in choice MS65 or better and is one of the few dates that lacks CAC approval in my core set. This MS66 example arrived quickly and was subsequentially photographed for posting in the GFRC Open Set Registy. This is a crusty original gem specimen with glowing luster under the thick gray-brown obverse patina. The reverse offers increased luster as the toning is less extensive.

Following are two images for sharing and your enjoyment. The first is from regular GFRC photography and accurately captures the coloring on display when viewing in natual sunlight. The second image is from PCGS and displayed on CoinFacts. This piece is currently the CoinFacts plate coin as recently graded. After the Manchester show, this dime is heading to CAC as part of a larger submission. How I would love to see a CAC green bean on this newly acquired 1869-S F-102 dime.

1869-S F-102 PCGS MS66 10C - GFRC Images

CoinFacts - PCGS Images as Comparison

 

NH Coin Expo New Purchases

There are four new purchases to report. There might be a surprise factor with the purchase of Indian cents. When evaluating potential purchases, I'm always on the hunt for coins with significant eye appeal and strict originality at a fair price. The following two Indian cents are top quality along with two lovely United States gold pieces that are ideal candidates for a type set.

Indian 1c: 1876 NGC MS65RB CAC, a wonderful gem that is closer to red than brown; 1894 PCGS MS64BN near gem with lots of eye appeal

Gold $5: 1909-D PCGS MS64 CAC, old time orange patina and exceptional eye appeal

Gold $10: 1932 PCGS MS64+ CAC, so close to MS65 and ideal type coin at a value price

 

Global Financial News

The September jobs report will be published today and is closely being watched given weak ISM reports on manufacturing and service sectors. Equity markets are in a bad news is good news mode again. A weak report will guarantee another Federal Reserve interest rate cut before year end. U.S. corporations continue to use debt for stock buybacks to prop up their stock prices. Lower interest rates will fuel this strategy.

As for commodities and the long bond interest rate, today's opening numbers are mostly flat other than gold. Crude oil is quoting at $52.71/bbl and Bitcoin is at $8154/coin. Physical gold can be purchased at $1515/oz plus a buyer's premium. The 10 Year U.S. Treasury bond is yielding 1.53%.

 

Wrapping Up The Blog

My apology for the brief Blog edition. However, it is time to brush teeth, pack the laptop and drive to the NH Coin Expo. I'm hoping for a strong Friday as always the better of the two show days. There will be a complete report on Saturday morning.

Thank-you for checking in.

 

 

 

 

October 3, 2019

NH Coin Expo Setup Day Plus Other Ramblings

Greetings and welcome to the Blog on a chilly southern Maine morning. New Hampshire Coin Expo setup day has arrived.

Wednesday brought a focused day with a host of must get done activities. I literally did not take a break until a brief dinner followed by packing NH Coin Expo inventory until 9:00 am. The day's reward was two hours in the basement sound room listening to new age Bliss and Afterlife recordings and nearly falling asleep. My final President's Message for the LSCC's upcoming Fall Gobrecht Journal edition was composed and proof read by Len Augsburger. What a sense of relief knowing that my tenure as LSCC President comes to a conclusion in a few months followed by Len taking over club stewardship. There was a break in the day's rains which facilitated a vigorous health walk and wrapping up residual firewood stacking and lawn clean-up. GFRC is nearly ready to drive to Manchester once the show table accessories are packed. Wednesday also brought inquiries and purchases of the newly acquired Liberty Seated dollars along with a substantial type gold order by a GFRC client who is aggressively building a mint state type set. It was a wonderful day with great business and closure on must get done items. I'm relaxed this morning and looking forward to two days on a bourse floor.

 

NH Coin Expo Setup Day

Today brings booth setup and dealer trading at the Manchester show. Fortunately, the the Massachusetts Collection consignor has volunteered to help at the GFRC table. This will allow me to move around a bit and maybe make a few new purchases. GFRC will have a broad range of inventory across all product lines and price ranges contained in seven display cases. The remaining Labelman87 Barber quarters will be on display and available for purchase along with newly acquired and unsold Liberty Seated dollars. Those individuals who asked for selected coins to be transported to the show will be pleased as all items have been packed. As a final reminder, following is the NH Coin Expo bourse floor map and GFRC table location.

GFRC Table 701 at NH Coin Expo

 

Posting the Daily Blog Archives on Newman Numismatic Portal?

Wednesday morning brought a flurry of email responses as to whether I should release the Daily Blog Archives for publishing at the Newman Numismatic Portal (NNP). The feedback ranged from "damn the torpedoes" and go for it to "don't do it" if there is apprehension for potential GFRC business impact. About twelve Blog readers responsed including Gerry Tebben and Len Augsburger. Gerry Tebben realized my trepidation and concerns. He suggested loading the Archives and allowing access to only the last two years or so. Len remindered me that all the Daily Blog posts are indeed available online via the Internet Archive Wayback Machine website. This was a scary revelations that once I post any commentary online, it is forever captured and stored. This fact will probably temper my occasional expressive nature at the Daily blog.

Conclusion and Next Steps?

Len and I exchanged emails on the topic. I've agreed to pass along the 2018-2019 Daily Blog Archives for NNP posting after returning from the Manchester show. The 2017 Daily Blogs will need a quick read through and scrubbing before being released. As for 2015 and 2016, those are a no go based on feedback unless there is meticulous review and clean-up. Stay tuned for updates once Len performs the initial NNP uploads and provides access links.

A sincere thank-you goes out to everyone who took the time to consider this question with contemplation and insightful feedback.

 

Another Twin Lakes Collection Consignment Arrives!

Tuesday brought yet another USPS Express shipment delivery from the kind people at the Windham Maine post office. Their trips to the GFRC office are increasing with a personal thanks for using the USPS system rather than Fedex.

The latest arrival was a new consignment from the Twin Lakes Collection. Twin Lakes was a substantial buyer of the Labelman87 Barber quarters and as a result, released a slew of duplicates back to GFRC. Following are the contents of the new Twin Lakes consignment. Looks like a Twin Lakes Collection Barber quarter client gallery will be forthcoming...

Indian 1c: 1865 Fancy PCGS AU58

Silver 3c: 1855 PCGS AU58

Seated 10c: 1874-S F-102 PCGS AU58

Barber 10c: 1900-S PCGS AU58

Seated 25c: 1852 PCGS AU55

Barber 25c: 1894-O PCGS AU58 OGH; 1895 PCGS AU58; 1901 PCGS AU58 OGH; 1902-O PCGS AU58 OGH; 1904-O PCGS AU58; 1905 PCGS AU58; 1907-O PCGS AU58; 1908 PCGS AU58 OGH; 1908-D PCGS AU58; 1912 PCGS AU58 CAC; 1912-S PCGS AU58; 1915 PCGS AU58; 1915-D PCGS AU58

Standing 25c: 1923-S PCGS AU58FH

Washington 25c: 1945-S PCGS AU58 DDO FS-101

 

Global Financial News

Global markets, including the United States, have been spooked by the recent ISM manufacturing report. Today's futures are indicating potential recovery after the Dow Jones' two day loss of 800 points. I'm watching commodity prices and interest rates closely at this time. Let's immediately jump to those before sharing several Seeking Alpha headlines.

Most important is the continued rush to the safety of U.S. Treasury bonds. The 10 Year long bond yield has dropped to 1.58% as demand increases and the U.S. dollar strengthens. Spot gold prices are back on the rise with a quote of $1508/oz. Crude oil prices have dropped as Saudi Arabia announced a complete recovery of its oil output. Today's crude oil quote is $52.42/bbl. Bitcoin is quoting at $8281/coin and does anyone really care at this point?

We open the sharing of Seeking Alpha headlines with the announcement that Saudis have restore full crude oil output.

Saudi Arabia has fully restored oil output following attacks on its facilities last month that took half of its production offline at their peak. "We all rose to the challenge," Energy Minister Prince Abdulaziz bin Salman told an energy conference in Moscow, adding that the kingdom's focus is now on the listing of Saudi Aramco (ARMCO). "We have stabilized production capacity, we are at 11.3M barrels per day. We still have the kit and the tools to overcome any future challenges."

The Trump administration received a favorable World Trade Organization ruling and is taking action.

The WTO has given the U.S. the go-ahead to impose tariffs on as much as $7.5B worth of European exports annually - in retaliation for illegal government aid to Airbus - and the Trump administration is wasting no time in levying them. A list has been released of hundreds of European products that will get new tariffs as early as Oct. 18, including 25% levies on French wine, Italian cheese and single-malt Scotch whisky. The main target, however, is Airbus aircraft made in the EU, which face a 10% duty that could hurt U.S. airlines like Delta which have billions of dollars of orders waiting to be filled.

Walmart is launching healthcare initiatives to reduce costs. I applaud this step as private enterprises bring creativity and innovation towards cost effective alternatives.

Walmart will begin several healthcare pilot programs for its U.S. employees starting Jan. 1 as it looks for ways to slash healthcare costs - one of the largest expenses for the retailer after wages. Plans include connecting patients with local doctors, testing a concierge service, video chats with medical professionals and access to fitness clubs. Others in the industry are also targeting healthcare, with Amazon recently launching a virtual primary care clinic with an option to send nurses to employees' homes.

We close with this headline indicating that EU countries are taking aggressive steps to control problematic Facebook content.

EU countries can order Facebook to take down posts, photographs and videos and restrict global access to that material, according to Europe's top court. They can also compel the tech giant to remove worldwide user comments that have been declared illegal. The case had been closely watched because of its potential ripple effects for regulating internet content, which will place more responsibility on companies to patrol their websites.

 

Wrapping Up The Blog

Thank-you for visiting the Daily Blog on a Thursday morning. Friday's Blog will be a recap of NH Coin Expo setup day and other ramblings.

The time has come for a quick shower and wrapping up coin show preparations. See you tomorrow at the Blog.

 

 

 

October 2, 2019

Preparing For the NH Coin Expo

Greetings on a Wednesday morning and welcome to another Blog edition.

Today brings the last full day in the GFRC office prior to traveling to Manchester NH on Thursday. After attending the CONA show on Labor Day weekend, I've thoroughly enjoyed working in the homestead office rather than being on the road. There are a host of reasons for feeling this way. Home prepared food is much healthier as are the daily health walks. Personal efficiency is much higher when able to exclusively focus on processing individual consignments along with ongoing order management and shipping. Come tomorrow morning, a subset of the GFRC office will be packed and re-establish on a tiny back table on a bourse floor without walls or a closed door. The working transition is stark and brings some apprehension. Maybe I've grown spoiled with the office chair, three computer monitors and the lack of interruptions?

Today also brings the composition of my last Liberty Seated Collectors Club President's Message for the upcoming November Gobrecht Journal. What shall I say to close out my tenure as club president? Then comes an afternoon of pulling inventory and packing in separate double row slabbed boxes for transport to the Manchester show along with coin cases and the usual accessories. Let's hope that the three days away from the office are worth the efforts as GFRC is faced with another huge consignment backlog. Please see next....

 

GFRC Consignment Window is Closed Through Mid to Late October

In a previous Blog, I made mention of a consignment "tsunami" that was about to arrive. Well, that tsunami has materialized during the past week and will continue to bring USPS package deliveries well into next week. It is best that I stop accepting consignments until the third week in October to ensure that the backlog is properly attended too.

Consignments that have been committed through yesterday will be accepted and vigorously supported. Starting today, I must respectfully decline incremental consignments. Please stay close to the Blog for a host of new consignment offerings after the Manchester show. I will also announce when the consignment window is re-opened at some point is October.

 

Posting the GFRC Daily Blog Archives on the Newman Numismatic Portal?

Len Augsburger forwarded an email suggestion from Gerry Tebben on Tuesday concerning the storage and accessibility of Daily Blog archives. Do readers realize that the Daily Blog has been consistently written for over five years? The 5th year anniversay came and went during the month of August 2019. I was too busy during August to note the milestone and share with readers.

Below is Gerry Tebben's brief email and suggestion to Len.

While trying to find an old item on Gerry Fortin’s blog, I noticed that he keeps only the last month on his site. A few significant items are archived, but the bulk of it disappears.

I think his blog, if you could arrange it, would make a significant addition to the Newman Portal. I enjoy reading it and think it might be of use to future researchers.

My immediate response to Len was favorable, on a technical basis, as all of the monthly Daily Blog files are stored on my laptop and Hostway server. This information is sitting in the background and presently unaccessible to the numismatic community. There are a few risks however with publishing some of the earlier years in the Archive. Typos and grammar issues were commonplace along with conservative ramblings prior to the 2016 election. In today's hyper political environment, plus demands for political correctness, and easily offended individuals, I would hate to disturb current customers with previously written conservative thoughts.

What do you think? Should I move forward and share five years of Daily Blog ramblings on the Newman Numismatic Portal? Does the wealth of numismatic sharing, including many well written guest blogpost, outweigh some conservative ramblings? Sorry, but I have no plans to selectively edit content in the Archives. This is an all or nothing situation.

 

Special Liberty Seated Dollar Collection Offering

One never knows what new opportunities might appear with operating as a full time coin dealer. Each day brings GFRC orders and the predictable requests for numismatic consulting from unknown individuals. Occasionally, emails appear with special requests. Those requests include opportunities to handle a major collection or for an outright purchase of a substantial holding. Recently, the Labelman87 Barber Quarter Collection appeared along with a request for help from a GFRC client concerning capital generation for a professional business expansion. For the latter situation, the capital requirement was near term thus going down the consignment path was not optimum. Instead, I proposed to buy the collection outright and add to GFRC inventory.

GFRC is most pleased to be showcasing a quality lot of better date Liberty Seated dollars for your consideration. Since publishing the gallery last evening, several requests for certain dates quickly appeared with quotes being extended. All pieces in the lot are immediately available though selling rapidly. I'm not sure when these lovely Seated dollars will reach the price list. If interested, please email me for availability and a quote. At the moment, the 1850, 1856, 1859-S, 1868 and 1870-CC have First Rights of Refusal and have been quoted.

1850 PCGS AU55 CAC OGH $1

1853 PCGS MS61 $1                                                                       1856 NGC AU58 $1

    

1857 PCGS AU58 $1                                                                       1859-S PCGS AU53 $1

     

   1845 PCGS AU55 CAC $1                               1865 PCGS AU55 $1                                     1867 PCGS MS61 $1     

            

   1868 PCGS AU58 $1                              1870-CC PCGS F15 CAC $1                               1872 PCGS AU58 $1

            

 

Global Financial News

Global equity markets are on edge after a pessimistic U.S. factory activity report. European markets are down while China is closed due to the country's 70th Anniversary holiday week. A slowdown in the United States consumer demand will have significant impacts to others around the globe. Seeking Alpha captures the situation.

Markets are still on edge following data that showed U.S. factory activity shrinking in September to its weakest level since 2009, ratcheting up fears that the U.S.-China trade war is hobbling the world's largest economy. The weak print saw the Dow drop nearly 350 points yesterday - with another 173-point loss likely at the open - while stocks flashed red across Europe and Asia overnight. Wall Street's next focus is this morning's ADP private payrolls report, which will give further clues about the labor market and broader economy ahead of the government's monthly jobs report on Friday.

How did our tracked commodities and long bond interest rate react? Spot gold moved up slightly to $1490/oz while crude oil prices decreased to $53.74/bbl. Bitcoin is trading at $8252. Its recent drop has an explanation per a forthcoming Seeking Alpha headline. The U.S. 10 Year Treasury bond yield reacted to the unfavorable news with a rush to safety. This morning's yield has dropped to 1.62%

Unrest in Hong Kong continues while the mainland celebrates 70 years of Communist party rule. Though the protesters are valiant, those individuals should realize that the Communist Partty will not allow Hong Kong to enjoy true democratic elections let alone independence.

The Hang Seng Index was closed for a market holiday on Tuesday, though things quickly went south during today's open, before the benchmark ended the session 0.2% lower. In an escalation of violence, Hong Kong police yesterday shot a teenage protester, the first to be hit by live ammunition in almost four months of unrest in the Chinese-ruled city. Data also showed retail sales in the Asian financial hub slumping 23% in August, marking a seventh consecutive month of decline (July's drop was 11.4%).

Governmental oversight realities for the Facebook's Libra crytocurrency project have arrived and scarcing those in the partnership.

Cracks are showing up in Facebook's Libra payments coalition, with key financial partners reconsidering their participation after a backlash from government officials. Visa, Mastercard and other backers are rethinking the project as officials in the U.S. and Europe raise the specter of regulatory scrutiny. Executives from Libra backers are now being summoned to a Thursday meeting in Washington, D.C., ahead of an Oct. 14 meeting in Geneva to go over a Libra Association charter and name a board.

Drone deliveries are now are reality after a favorable DOT approval for UPS test bed results.

The Department of Transportation has given UPS the green light to operate a drone airline in a landmark development. The company will be allowed to deliver vital healthcare supplies nationwide after testing the program successfully on a hospital campus in Raleigh, North Carolina. As delivery options expand, future steps may include a single operator on the ground controlling multiple flights, or using drones to supplement traditional package delivery by trucks in rural areas.

 

Wrapping Up The Blog

It is already 8:00 am and best to get on with another busy day. Thank-you for checking in at the Blog and these ongoing ramblings. I will be in the office the entire day writing my final LSCC President Message followed by preparing inventory for the Manchester show.

There is a host of great GFRC inventory that is immediately available for purchase. These items are just an email or phone call away.

See you on Thursday morning at the Blog.

 

 

 

October 1, 2019

The Passing of the LSCC's James Bailey

and

GFRC Purchases a Substantial Liberty Seated Dollar Collection

Greetings and welcome to the Blog on the first day of October.

Seasonal changes are so apparent as the Blog is being composed. At 6:15 am, dark, cloudy, and wet conditions greet me outside the office window. Days are quickly growing shorter at the homestead's northern 43.75 latitude with sunrise taking place at 6:40 am. Autumn is in full swing with peak foliage just two weeks again.

There is much news to cover in today's Blog edition. therefore let's keep the preamble short.

 

The Passing of James Bailey, LSCC Member #708

As decades moves along, it is inevitable that the Liberty Seated Collectors Club will lose its earliest members. An email arrived from Rebecca Weirick, James Bailey's daughter, that Jim had passed on September 17th, 2019. In her email to Bill Bugert, Rebecca mentioned that Jim loved his coin collecting and that he was still reading coin collecting news on his iPad the day of his passing.

The loss of Jim Bailey is a sad event, on a personal basis, as he was an incredibly insightful Liberty Seated Half Dollar die variety collector, GFRC customer, and consignor. Jim and I conducted a host of phone calls, starting in 2017, after he discovered the GFRC website and the Daily Blog. He was one of the Blog's daily readers and would call to provide his insights into my commentaries. Jim was a traditional gentleman. His pursuits of the rarest of the die varieties continued until his passing. A typical phone call from Jim would arrive after posting selected Liberty Seated halves to the price list. He would ask me to pull the new offerings from inventory boxes to check for certain diagnostic points. Thought he was a selective buyer, I did manage to sell Jim about ten halves during the 2017-2018 timeframe.

In terms of Jim's consignments, there is currently one piece in GFRC inventory; an 1876-S WB-103 Type 2 Reverse graded PCGS AU53. Following are image's of Jim's Seated half.

1876-S WB-103 Type 2 Reverse - PCGS AU53 50C - James Bailey Collection

 

GFRC Purchases a Substantial Liberty Seated Dollar Collection

The past several days have been incredibly busy. One of the background activities was the opportunity to purchase a substantial Liberty Seated dollar collection from a GFRC consignor. This individual is expanding his professional business and made a command decision to sell his Seated Dollar Collection towards raising incemental business capital. His collection arrived to the GFRC office late last week with the weekend spent evaluating each piece and formulating a collection buy-out price. An offer was tendered early Sunday morning followed by some traditional back and forth negotiations. We reached agreement on purchase terms Monday morning. A large GFRC check is being mailed today.

This beautiful collection features scarcer dates in higher grades and will be an important addition to GFRC inventory. Following are the collection contents.

1845 PCGS AU55 CAC $1, near gem original with rose-gray patina over mirrored fields

1850 PCGS AU55 CAC OGH $1, an absolutely gem with heavily mirrored fields

1853 PCGS MS61 $1, frosty choice original

1856 NGC AU58 $1, rare date with choice frosty eye appeal

1857 PCGS AU58 $1, fully struckk with light toning, a choice specimen

1859-S PCGS AU53 $1, rare date with choice golden gray patina

1865 PCGS AU55 $1, mirrored fields with rich gun metal gray toning, choice

1867 PCGS MS61 $1, another with mirrored fields, uniform gun metal gray-blue and subtle gold

1868 PCGS AU58 $1, so choice with mirrored fields plus lavendar-rose light toning

1870-CC PCGS F15 CAC $1, choice original crusty gray

1872 PCGS AU55 $1, mottled rose-blue patina over mirrored fields

This lot has been photographed with images in the processing queue. First Rights of Refusals will be immediately accepted.

 

Apology for Lack of Monday Price List Postings

Sunday evening brought a phone call from my firewood supplier. He wished to drop off two cords of cut and split hardwoods on Monday at 8:00 am. That he did yesterday morning. With a week of upcoming rain in the forecast and the NH Coin Expo arriving on Thursday, a decision was made to immediately stack the two cords under the sunroom for seasoning. After a quick trip into Lewiston, for business related financial planning, I spent the balance of the afternoon stacking wood until the sun went down. Yes, my back is a tad sore this morning but the daily health walks, with weights, have been instrumental for maintaining physical stamina to get this job done rapidly.

Following are before and after images to explain why the GFRC 30 day price list lacks new posting.

A Dump Pile of Split Maple, Birch and Oak

After Four Hours of Stacking

 

Global Financial News

China and Hong Kong equity markets are closed for National Holiday celebration (70 years of Communist rule). Otherwise, Asia markets are in an upbeat mood which is reflected in long bond interest rates and spot gold pricing. Physical gold pricing has moved down slightly to $1470/oz as the China-U.S. trade war continues. The Yuan remains weak at 7.15 to a U.S. dollar. Oil prices have stabilized in the mid $50s as Saudi Arabia returns to full production capacity after the September 14 oil field attack. The current quote is $54.77/bbl. Bitcoin found buyers in the last 24 hours and is back to $8361/coin. If you enjoy wild pricing swings, then Bitcoin is for you! Finally, the 10 Year U.S. Treasury bond yield has increased to 1.74% signaling reduced demand.

Oil prices and supply are discussed in this Seeking Alpha headlines. Upward pricing pressure is fading as Saudi Arabia is back online with full capacity and other OPEC members are shipping above committed quotas.

Oil prices are tracking higher on reports that production in the U.S. and Russia fell during the third quarter. While oil prices are forecast to remain fairly steady for the balance of the year, many market watchers think upward pricing pressure is fading away with Saudi Arabia believed to have restored capacity to 11.3M barrels per day after the attack on September 14 knocked out 5.7M bpd of output. "Demand growth is weakening, oil supply outside OPEC is rising significantly and OPEC+'s production discipline has recently faded," noted Commerzbank analyst Carsten Fritsch.

Were you aware that Japan is close to full employment?

Unemployment in Japan remained at 2.2% in August to match the lowest level of the last 26 years. Government officials say the labor market is close to "full employment" with a record 67.51M people working. Another significant economic development in Japan occurs today with the consumption tax rising to 10% from 8%. The government maintains the increased burden on consumers is necessary to boost social welfare programs and reduce the mounting national debt. Prime Minister Shinzo Abe aims to prop up consumer spending through fiscal policy moves.

Closer to home, Tesla electric vehicle production has become consistent and approaching the 100,000 cars per quarter threshold.

Tesla is expected to update on deliveries sometime during the first few days of October. The EV automaker delivered 95,356 cars in Q2 and is forecast by analysts to deliver around 97K in Q3, although Elon Musk told employees last week the company has a shot at hitting 100K deliveries. Looking ahead to Q4, the consensus estimate from analysts is for deliveries of 104K, consisting of 85K Model 3s, 10K Model X SUVs and 9K Model S cars.

 

Wrapping Up The Blog

Given the rainy weather, I am definitely planning to work in the GFRC office the entire day. There are a host of consignments to process plus posting new purchases that did not get done on Monday. If that were not enough, the October 1 deadline for the Fall Gobrecht Journal is upon me. The regular full page GFRC ad must be prepared along with my final President's Message. NH Coin Expo preparations start on Wednesday afternoon too!

Thanks for visiting with me at the Blog. It is time for a quick shower and getting to the day's shipping. There is too much to do in the next 36 hours.

 

 

 

 

September 30, 2019

GFRC New Purchases Heading To The Price List

Greetings on the final day in September and welcome to the Blog.

Crisp and refreshing are appropriate to describe the current 39F temperature under bright sunshine. As the month of October arrives, temperatures will see an incremental cool down with daytime highs in the 50s becoming the norm. The seven day weather forecast, for NH Coin Expo show, is downright crappy with clouds and rain being dominant. Today brings the last day of sunshine until next Saturday and you can bet that I will be out in the yard conducting more photography to hold me over into the second week of October.

Sunday was Diane's birthday. Yes, she is a perpetual 50 at this point. We drove to Portland's waterfront and experience a new eatery. Scales is the venue and has perfect seafood straight from Maine's ocean waters. The restaurant is a restored warehouse on one of Portland's many wharfs. Just drive up to the restaurant and valet parking takes over with car placement at the far end of the wharf. We arrived at 5:00 pm and within 30 minutes this huge warehouse was jammed packed with patrons. The clam chowder actually tasted like salty clams and not cream! Diane ordered Scales' signature scallops while I enjoyed a huge lobster roll. The lobster meat was absolutely fresh with that special crunchy texture.

Monday brings another busy day with an early morning delivery of cut and split firewood for the 2020-2021 burning season. Regardless of the acres of wood that are available at the Fortin homestead, working in the GFRC office is a much more productive (safer too!) use of my time rather than utilizing a chain saw and wood splitter to generated several cords of wood annually. It is wise to order two cords and just take delivery. All I must do is stack the wood under the sunroom for a full year of seasoning.

While at Diane's birthday dinner, a decision was made on the timing of the annual Florida migration. Since Thanksgiving 2019 arrives at the end of November, the GFRC office migration must take place the weekend before or after Thanksgiving weekend. The GFRC Black Friday sale consumes Thanksgiving weekend so traveling during that timeframe is out of the question. At this point in time, it appears that GFRC will be conducting its annual Black Friday sale from Florida this year. How time flies! I will definitely miss the basement Focal/Naim sound system!

 

GFRC New Purchases Heading To The Price List

I'm always in the hunt for top quality new inventory to compliment ongoing consignment arrivals. Below is a new lot that was recently purchased. Please note the predominance of CAC green beans as an indication of the lot's overall quality. All pieces will be found on the price list by the end of day.

The 1862 F-101a dime features mirrored fields since being an early circulation strike from proof dimes. At the MS65+ grade level, there are only two pieces certified with a sharp price increase at MS66. I suggest that you give this lovely gem special consideration. The 1890-S is a wonderfully original piece with bold strike and thin crusty gray patina that screams originality. Please note the 1853 No Arrows dime as an important opportunity for those that demand CAC approval for their Seated dime purchases. CAC population in EF45 grade is only two with four additional in all AU grades. Finally, the 1839 Drapery Seated half is a perfectly original and unimproveable at its assigned grade level.

   1862 F-101a PCGS MS65+ CAC 10C                                              1890-S F-116 PCGS MS65 CAC 10C

    

       1842 F-107 PCGS AU58 10C                 1853 NA F-101a PCGS EF45 CAC 10C               1859 F-105 PCGS AU58 CAC 10C

            

 1905 PCGS MS64 CAC 10C                             1906-S PCGS AU58 10C                              1890 PCGS AU55 CAC 25C

            

   1839 Drapery PCGS EF45 CAC 50C           1859 Old Rev PCGS AU53+ CAC G$2.5

      

 

Global Financial News

Asia equity markets continue to be under selling pressure as another trading week begins. United States markets look to be marginally up at today's open. Seeking Alpha headlines are sparse with nothing worth sharing.

Commodity prices have entered a period of slight weakness. Crude oil is quoting at $55.37/bbl while physical gold is down below the important $1500 threshold and trading at $1494/oz. Bitcoin continues its rapid fall with Monday pricing at $7956/oz. The 10 Year U.S. Treasury bond yield is mostly flat at 1.70%

The ongoing political drama is Washington does not appear to be impacting the financial markets at this point. One thing is for certain; Congress will not tackle new improvement projects for the our country until after the 2020 election. The next year will be replete with investigations and election primaries. But on a positive note, this is the checks and balances of a democracy. Having a politically divided country during a period of reasonable economic growth and no new foreign wars could be viewed as a positive situation.

 

Wrapping Up The Blog

More potential good news could be forthcoming this week concerning a potential Liberty Seated dollar outright purchase deal and the consignment of Mark Mattox's type gold collection. Mark's widow, Rhoda, has been consumed with her own caregiving issues during the past two months. She contacted me Sunday evening to initiate the transfer of Mark's U.S. gold type set and also, his complete Mercury dime collection. I will be speaking with her today.

I will be in the GFRC office today. Please don't be bashful with purchase inquiries as I'm just an email, text message or phone call away.

Thank-you for starting your day with a visit to the Blog. See you tomorrow morning.

 

 

 

September 29, 2019

Researching the GFRC Sales Archive

Greetings on a peaceful Sunday morning and welcome to the Blog.

The 2019 Autumn season continues to be outstanding with seasonal temperatures and bright sunny days. This weather pattern will hold through Monday followed by several days of rain. Daytime highs for the NH Coin Show in Manchester will only be in the mid 50s so best to dress warm if attending the show.

Today's Blog edition will be brief as there is little prepared. Saturday brought a personal mail run to the Windham Post Office followed by a bank vault visit and noon time photography. The Windham postmaster loves to joke when seeing my presence in his office. "He finally gets off the hill and back into civilazation" is his standard line with a smile. So you know, Diane handles shipping transport, if there are Express Priorty boxes, otherwise Doug the Mailman takes care of daily USPS Priority pickups.

The balance of Saturday brought leaf blowing and an overdue lawn mowing. When those chores were done, it was already time for scotch and nuts following by grilling the evening dinner. Afterwards, I went into the basement soundroom to chill out. It had been a long week managing the Labelman87 Collection sale including the many First Rights of Refusals. The time had come for a well deserved mental break. There is a continous flow of newly consigned items waiting patiently in the queue and that they did on Satuday evening.

 

Wild Turkeys In The Front Yard

At this point during the Blog composition, I hear some squawking outside the opened office window. What in the world is that sound? Looking up from the laptop screen to the front yard revealed about twenty large wild turkeys strolling across the driveway. Following is the best of several pictures taken with the cellphone. Welcome to country life!

 

GFRC Evaluating Purchase of Liberty Seated Dollar Collection

Saturday's USPS Express shipment delivery was a significant lot of Liberty Seated dollar for outright purchase. The lot contains rare dates in AU grades including 1850, 1856, 1857, 1859-S, 1865, and more. All have been photographed in anticipation of a mutually agreeable purchase price being negotiated.

More on this topic in the coming days.

 

Researching the GFRC Sales Archive

A fairly new GFRC customer emailed on Saturday concerning the availability of the 1839-O F-106a Cobweb Shattered Reverse die variety in EF/AU grades and typical pricing. For those who are not intimate with Liberty Seated Dime die varieties, following is an image of the web-book plate coin that sold twice during the 2016 - 2018 timeframe.

 

I responded with the link for the GFRC Sales Archive and encouraged the research of his question via this database. His question prompted a check of the Sales Archive for a brief tutorial in today's Blog. Viewing images of the 1839-O F-106a die variety is critical as the later die states with heavily defined die cracks bring the most money. Does the Sales Archive have enough information to provide a reasonable answer? Absolutely! Here are the 1839-O F-106a listings for Blog reader review;

PCGS MS63 Gold CAC - Gem - $8600 - March 2018

PCGS MS63 Gold CAC - Gem - $8500 - September 2016

PCGS MS61 CAC - Choice - $2250 - November 2017

PCGS AU58 - Choice - $1100 - September 2019

PCGS AU55 CAC - Choice - $875 - May 2018

PCGS AU55 - Original - $750 - February 2018

PCGS AU53 - Original - $645 - August 2019

PCGS EF40 - Original - $285 - November 2018

PCGS EF40 - Original - $315 - October 2015

PCGS F15 - Choice - $215 - June 2017

NGC F12 - Original - $85 - October 2017

Based on the above eleven sales listings, the GFRC new customer should have been able to assemble a pricing curve with a conclusion on availability at EF and AU grade levels. GFRC is one of several dealers that would handle this popular die variety.

 

Wrapping Up The Blog

With the homestead property appearance looking respectable, today will bring time in the GFRC office. The consignment wave has arrived and best to get going with image processing and new listings prior to the Manchester NH show. GFRC will be walking into that show with great Barber quarter offerings from the Labelman87 Collection and a host of new United States gold.

For those who are patiently waiting for the rollout of my 1875-CC through 1877-CC Seated Dime reference collection pieces, they are in the image processing queue but once again taking a back seat to consignor new arrivals. I will get to those after the Manchester show as October brings another quiet month in the office.

Thank-you for stopping in at the Blog!

 

 

September 28, 2019

More Liberty Seated Dime Web-Book Plate Coins

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

There is a sense of relief as today's Blog edition is composed. The Labelman87 Barber Quarter Collection sale has been a rousing success. The launch and initial sales total is at 75 pieces of the 101 consigned. Another order is sitting in my email Inbox and will be serviced shortly. Len Augsburger and my favorite wholesale dealer forwarded a PCGS Message Board link containing positive comments about how the sale was conducted, the sales rates, and exceptional quality of the Labelman87 collection. The sale now moves into order shipment phase with shipments underway and continuing into early next week. The balance of the unsold Labelman87 quarters will be on display at the NH Coin Expo (Manchester show) starting this coming Thursday.

Now that the Labelman87 project is in the GFRC history books and captured in the Sales Archive, it is time to quickly move on to new offerings. But first, I'd like to share another reminder of GFRC upcoming presence and location at the NH Coin Expo.

 

New Hampshire Coin Expo Arrives on Thursday!

After enjoying staying put in the GFRC office for four weeks, the time has come to return to the coin show circuit. The New Hampshire Coin Expo (Manchester show) starts this coming Thursday with the usual afternoon dealer setup and wholesale action. GFRC will be located at its regular Table 701 with seven cases of quality silver type and United States gold. Following is the bourse floor map as a reminder of where to find me on the bourse.

Last Call! If GFRC customers wish to see particular coins in inventory at the NH coin show, please email me on your desired pieces for transport and availability. It is unfortunate when a potential customer walks up to the GFRC table and asks to see a coin on the price list that was not transported to the show. Please understand that GFRC has nineteen double row slabbed boxes of inventory which consumed fifteen display cases. Again, GFRC will have seven cases at the NH Coin Expo which facilitates the display of only half of my inventory. To avoid disappointment, please email me to ensure that I brings the coins you wish to view.

New Hampshire Coin Expo - October 4 - 5, 2019

GFRC at Table 701

 

The Rascal is Back with More Liberty Seated Dime Web-Book Plate Coins

After a successful Labelman87 sale, how about indulging me on the listing of a few Liberty Seated dime web-book plate coins? The following three dimes are freshly graded at PCGS and have not been to CAC. Two of the three offerings are an important event for die variety specialists.

Topping the list is the sole 1865-S F-102a dime that I have seen in my collecting career. The F-102a attribution captures a very late Reverse B die state with completely eroded denticles and a bold rim cud at 12:00. I bought this piece years ago and have not seen another. The time has come to release this rarity to the Liberty Seated dime collecting community. Up next is a lovely 1842 F-102 dime that is employed as the web-book plate coin. I previously graded this piece as MS62 while PCGS decided that AU58 is more appropriate. I'm not sure where PCGS saw rub but selling this piece regardless in its current holder. This is a premium example with beautiful old toning. Lastly, I've decided to sell the 1888-S F-103 dime with double die reverse. This piece has been accurately graded at the MS63 level. Multi-color toning is typical for the 1888-S date. I also have the F-103 Ahwash plate coin in the bank vault and will eventually release that piece too.

Important Liberty Seated Dime Web-Book Plate Coin Offerings

1865-S F-102a PCGS VF35 10C

     1842 F-102 PCGS AU58 10C                                                        1888-S F-103 PCGS MS63 10C

    

 

Wrapping Up The Blog

Saturday always brings a compressed office schedule since the local post office closes at 12:00 noon. First priority is the morning shipping including hand delivery due to an Express Priority shipment. Since my bank vault storage location is near the post office, I will be checking in on the bank boxes and will attempt to locate a few requests from the Seated dime reference collection.

Today's health walk must wait until the afternoon hours followed by cleaning up leaves and spending several hours on the John Deere tractor moving the lawn. As you can tell, Saturday brings a well deserved down day after a busy week.

Emails and phone orders will continued to be monitored throughout the day regardless of my whereabouts and activities.

Again, thank-you for spending time at the Blog on a Saturday. I will be back on Sunday morning with incremental ramblings. See you then.

 

 

 

September 27, 2019

70% of Labelman87 Barber Collection is Sold!

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

Southern Maine will experience another fantastic Autumn day with clear blue skies and a high of 72F. The day starts at a crisp 47 degrees. The driveway silver maple has already lost 80% of its leaves which means the first leaf blowing of the season takes place this weekend. I'm looking forward to spending weekend time outddoors after a long week in the GFRC office.

Political theater in Washington grows more bizarre by the day. I'm truly concerned about the country's future given the growing power and behaviors of the 24 hour news media. All I can do, as a lone citizen, is continue to ramp GFRC's United States gold inventory as a personal hedge against political animosities, greed and growing media deceptions.

 

Seth Godin Blog - The race to the bottom

Seth Godin is also watching the events in Washington and the behaviors of the news media. His Friday blogpost speaks volumes when he states that news media players have surrendered their self-esteem while generating shameless headlines. Following are Godin's thoughts. He is a brilliant and perceptive individual. When he sounds off, there is indeed worrisome changes in our society. But in true Godin style, he leaves us with an uplifting message to remain focused on deliverying quality products for focused audiences.

The race to the bottom

When anyone has the ability to announce breaking news, urgent updates, RIGHT NOW, steal attention and emergencies, then sooner or later, many will do just that.

Attention is scarce, scarcer than ever, and we’ve given everyone a machine that can steal attention, and a keyboard that can be used to steal even more.

The race for cheap, unearned attention is a race that can’t be won. As soon as someone gains the lead, someone else will lower their standards and take a shortcut to get even more. The players have already surrendered their self-esteem, so it’s simply an escalating hijack of trust. And so we have dark patterns, once-respected media outlets with shameless headlines and an entire industry based on clickbait, come-ons and trickery.

It’s pretty clear that there’s an alternative. A chance to work toward the top instead. To deliver anticipated, personal and relevant messages to people who want to get them. The opportunity to create remarkable products and services for a focused audience, stuff so good that people want to talk about it.

This is marketing. To choose to race to the top and then to do it well.

 

70% of Labelman87 Barber Collection is Sold!

On a positive note, I'm pleased to report that the Labelman87 Barber quarter collection sale has been a exhilarating success. As of last evening, 70% of the collection has been sold or is on hold. A brief review of morning emails indicates several more orders are awaiting my attention. The Labelman87 collection sale was a once in a decade type event for serious fans of the Barber quarter series. Years can be spent reviewing dealer price lists and auction sales towards acquiring the very best possible pieces within a date and mintmark set at a targeted grade level. Frankly, it is much easily to collect MS64 through MS66 gems than exceptional AU58s.

The release of the Labelman87 collection brought a special opportunity to our hobby and the rush to acquire awesome pieces was most evident in the past 72 hours. The Labelman87 sale also reinforces the GFRC business model. Major collections can be sold in a well planned and controlled manner with all pieces transferred to other collectors. I did my best to work through a complex First Right of Refusal process with only two coins being walked back.

As of today, there are no residual FRoRs on the remaining Labelman87 inventory. We are at the first come first serve point in the divestment process.

 

New Consignments and Outright Purchases Pouring In!

Yes, there is no rest for the weary but I would not want it any other way. During the past 48 hours, the Oregon Beaver and Murphys Collection consignments have arrived and will be photographed today. Another substantial Twin Lakes Collection consignment is due to arrive early next week. If these were not enough, I'm negotiating the outright purchase of a high grade lot of better date Liberty Seated dollars. Half the lot is CAC approved. There is also a United States gold deal underway with receipt due next week.

I will do my best to also bring to market the 1875-CC through 1877-CC Liberty Seated dimes from my own reference collection. Those pieces have been photographed and are patiently waiting for the Labelman87 Collection project to wrap up. This Carson City dime sale will also be a noteworthy event as it has taken decades to amass choice AU58 through MS62 die variety plate coins. There are many FRoRs for these offerings that must be managed to ensure minimal disappointments by Liberty Seated dime die variety specialists.

 

Global Financial News

The trading week comes to a close with Asia market futures showing red while European markets are showing small gains. The United States stock market is weathering the political turmoil in Washington and remains on a strong footing.

Today's Seeking Alpha headlines are rather dull and mostly company specific commentaries. There is little to motivate my sharing and commentary. Rather, let's wrap with a look at the long bond interest rate and commodity prices.

Physical gold pulled back overnight due to a lack of negative global news. This morning's quote is $1499/oz. Crude oil pricing remains amazingly flat during the past 72 hours. Current quote is $56.53/bbl. Then there is Bitcoin with speculators exiting positions. The latest Bitcoin quote is $7999/coin. The 10 Year U.S Treasury bond yield is holding at the 1.72% mark.

 

Wrapping Up The Blog

Today brings a substantial shipment day given the host of Labelman87 Collection orders along with strong sales of existing GFRC inventory. I'm pleased to report that GFRC September sales are 2x that of 2018 and the month still has a few days to go. My concerns for a seasonally slow September were absolutely unfounded.

Let's end today's Blog at this point as I wish to head out for a enjoyable health walk before another long office day.

Thank-you for visiting with me and making the Blog a regular part of daily online reading. See you on Saturday morning.

 

 

 

September 26, 2019

Here Come Labelman87 Barber Quarter Duplicates!

Greeting on a Thursday morning and welcome to the Blog. Today brings the final Labelman87 Collection client gallery for your consideration.

As promised, the second part of the Labelman87 Collection sale focuses on duplicates that were accumulated during years of building the magnificent primary date and mintmark set. The Duplicates Gallery also contains offerings that bring superior eye appeal and are worthy of your consideration.

As part of the primary date and mintmark set sale, during the past 48 hours, several of the pieces in the duplicates lot have also been sold. Sold pieces are marked below to help define the remaining pieces that are immediately subject to the First Right of Refusal process.

So far, the Labelman87 Collection sale has been a huge success. Let's keep the momentum going with your incremental requests for pieces in the Duplicates Gallery.

 

Labelman87 Barber Quarter Collection - The Duplicates Gallery

1909-O PCGS MS64 25C

                 1895-O PCGS AU58 CAC 25C                                                     1897-S PCGS AU55 CAC 25C - Sold     

    

1901-O PCGS AU58 25C                                                                 1914-S PCGS AU55 25C

    

           1892 PCGS AU58 25C                           1892-S PCGS AU55 CAC 25C                           1893 PCGS AU58 25C       

        

     1894 PCGS AU58 25C                        1895 PCGS AU58 CAC 25C - Sold                        1895 PCGS AU58 25C    

        

           1895-O PCGS AU58 25C                    1895-S PCGS AU58 CAC 25C - Sold                    1896 PCGS AU58 CAC 25C       

        

  1898 PCGS AU58 5C                                    1899 PCGS AU58 25C                                   1903 PCGS AU58 25C

        

       1904 PCGS AU58 25C                            1906 PCGS AU58 CAC 25C                             1906-O PCGS AU58 25C    

        

          1907 PCGS AU58 CAC 25C                       1907-S PCGS AU53 25C - Sold                    1908 PCGS AU58 CAC 25C - Sold  

        

      1908-D NGC AU58 25C                              1908-O NGC AU58 25C                           1908-O PCGS AU58 CAC 25C

        

    1910 PCGS AU58 25C                                1911-S PCGS AU58 25C                                1916 ANACS AU58 25C

        

 

Seth Godin's Blog - You might have a marketing problem

I could not pass up sharing a recent Seth Godin blog concerning the role of marketing in our lives. Reading through Godin's commentary was like looking in a mirror and explained why I place so much time and effort writing the Daily Blog. No other dealer in the numismatic industry does what I do. Clearly, I'm on a mission to change the way numismatic dealings are done. Sometimes things aren't perfect as this is a long experiment with a few pitfalls to be expected. But in the end, collectors will have new expectations for buying and more importantly, selling their coins. Please read on.

You might have a marketing problem

Democracy is a marketing problem.

Health is a marketing problem.

Climate change is a marketing problem.

Growing your organization, spreading the word, doing work you’re proud of – these aren’t engineering problems or economics problems. They’re marketing problems.

That’s because humans make choices. If we live in a culture where people are free to choose, we’ve offered control over our future to others.

When humans make choices – that’s marketing. Marketing is the difficult work of telling a story that resonates, of bringing a consistent set of promises to people who want to hear them.

If you want to change things, it helps to understand how humans make choices. And if you’ve got a change in mind, I hope you’ll spend the time and effort it takes to get better at bringing your story to the people who need to hear it.

Marketing isn’t about shortcuts, hustle or deception. Marketing is the art (and the science) of serving the people you seek to serve, to do better work by finding and satisfying needs. Marketing is the practice of making things better by making better things.

 

Apology to Second GFRC Customer during Labelman87 Sale

As pointed out in yesterday's Blog, the FRoR management process is cumbersome and data intensive. There are risks associated with the manual nature of the process. The primary risk is double committing a coin. This I did a second time yesterday and sadly had to inform a great GFRC customer that I had made a mistake. He shared his disappointment and I did too. I was disappointment in myself for not double checking my data sheets and COIN database before extending the erroneous commitment. I'm sorry for the mistake.

 

Global Financial News

Global equity markets are in an upbeat mood after President Trump signaled that China may want to make a trade deal. Otherwise, Seeking Alpha headlines are barren of items worth sharing. Let's have a look at our favorite commodities and the long bond interest rate.

Physical gold prices have pulled back slightly on the possibility of a China - U.S. Trade deal. Today's quote is $1515. Crude oil is flat at $56.60/bbl while Bitcoin prices remain under selling pressure at $8445/coin. The 10 Year U.S. Treasury yield increased to 1.71% as traders are in a risk off mood.

 

Wrapping Up The Blog

Yesterday's annual physical check went very well to the point that my doctor decided to delay blood work until 2020. The daily exercise walks with weights and healthy salads, fruits, and vegetable diet are sustaining a blood pressure consistent to that of a younger man. The combination of diet and exercise provides energy that facilitates long days in the GFRC office or whatever I wish to attempt. To anyone who reads the Blog and still consumes sugar or diet soda, please stop immediately. Removing soda from my diet has had a profound impact on overall health. Just do it!

That is about it for today's Blog. I will be in the office the entire day. First priority is shipping more Labelman87 orders followed by writing descriptions for the remaining duplicates. More Labelman87 orders arrived during the overnight hours and will be responded to this morning.

Thank-you for visiting and wishing everyone a pleasant day.

 

 

September 25, 2019

Labelman87 Barber Quarter Collection Sale Underway!

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

Autumn colors are glowing brightly in southern Maine and appear to be ahead of schedule. The silver maple, along the driveway, is a solid crimson and beginning to drop leaves. Birches are quickly turning their seasonal yellow shades. The Fortin acreage was such a joy to view during last evening's outdoor grilling.

Labelman87 Barber Quarter Sale Underway!

Fantastic is the best way to describe the Labelman87 Collection sale as of this morning. Already, 44 Barber quarters are on hold including the key date 1896-S!

Much of Tuesday was spent working through First Right of Refusal selections across multiple customers. The process was still ongoing until 9:00 pm last evening when I finally called it a day and went to the basement sound room to decompress. I worked carefully to ensure that all FRoRs were honored in the order received and also to avoid double promising coins to customers. The strict attention to details and careful tracking limited double promising errors to a single coin. I will rectify the error shortly after the Blog is published. Below is the high tech tracking system for recording and administering the sale. Two ink colors and much hand scratching were necessary to keep the Labelman87 Collection FRoRs in order.

Positive feedback on the sale arrived from the consignor and several customers. There were two common themes. Len Augsburger was called out for his wonderful lot descriptions. GFRC photography quality and color accuracy were also mentioned.

Many of the better Labelman87 dates are still available and should be carefully considered. In particular, someone should scoop up the 1909-O PCGS MS63 CAC quarter as a superb gem and one of my favorites in the entire collection. The 1895-S PCGS MS64 CAC with cameo eye appeal is also high on my list of favorites.

This evening will bring the publishing of the Labelman87 duplicates client gallery as a preview for Thursday's Blog edition. Once again, those with interest in particular coins should email me with their FRoRs.

 

More Dr. Glenn Peterson Seated Half Dimes on Price List

Time was still found on Tuesday to work through another lot of raw Liberty Seated half dimes from the Dr. Glenn Peterson Dansco album. Good progress has been made during the past few days with the Dansco album starting to have an empty look. My plan is to slowly add his half dimes throughout the next few weeks until the supply is exhausted. Then we move on to two large Dansco album full of Liberty Seated halves.

 

Getting Ready for Another Consignment Wave

"Wave" may not be the best term to describe the forthcoming amount of new consignments to hit the GFRC office starting tomorrow. A "tsunami" may be the better description. As of this morning, I am aware of the Oregon Beaver and Murphys Collection consignments being in transit. Both consignors added more coins to their shipments beyond the first annoucements. Immediately following is another consignment from the Twin Lakes Collection. Twin Lakes is well known for his exclusive PCGS AU58 offerings. There is also ongoing discussion concerning a mint state Barber dime consignment. If that was not enough, Dan White's European gold purchases are already at PCGS for grading and hopefully will be back by mid to late October for a quick pass through CAC.

 

Global Financial News

President Trump's sharp rebuke of China's trading practices at the UN General Assembly and Pelosi's formal impeachment inquiry announcment have hammered global equity markets. World-wide market futures are flashing red to start the day. Bitcoin also took a double digit percentage hit during the overnight. Let's start today's segment with a look a commodities and the long bond interest rate.

Asian investors are once again driving up spot gold prices. This morning's quote is $1538/oz with more upside momentum expected in the coming days. I would not be surprised to see a test of the $1600/oz level. Crude oil prices have returned to the pre Saudi Arabia oilfield attack. Current quote is $56.56/bbl. Bitcoin took in on the chin with a sharp drop to $8351/coin. Finally, the U.S. 10 Year Treasury bond yield dropped to 1.64% as demand for safe haven investments increases.

Seeking Alpha provided this headline concerning Bitcoin's price plunge.

The world's most popular cryptocurrency tumbled as much as 18% over the past session to $7,944.33, hitting its lowest level since mid-June. Reasons for the dip? $9,000 was seen as a "major support" level, while there was a sudden decline in the bitcoin network's "hash rate," a measure of the total computing power of bitcoin miners around the world. Investors also seemed to greet a new bitcoin derivative with a "lukewarm" reception after NYSE parent Intercontinental Exchange (NYSE:ICE) launched bitcoin futures contracts on Sunday night.

Boris Johnson has an absolute Brexit mess on his hands after an unfavorable Supreme Court ruling. The EU bureaucrats now have the upper hand.

Britain's House of Commons reconvened this morning after the Supreme Court’s landmark ruling yesterday against Boris Johnson’s suspension of parliament. The prime minister is now left with little option but to agree on a new withdrawal package with the EU before an Oct. 17-18 summit in order to deliver on his signature pledge to take the U.K. out of the EU on Oct. 31. Other possibilities include a Brexit extension, an election, or a long battle toward a no-deal Brexit.

 

Wrapping Up The Blog

The 8:00 am publishing time has arrived so best to hit the upload button.

I will be in the GFRC office most of the day other than an annual physical check-up. Today's priorities are morning shipping and continuing to sort out Labelman87 orders in terms of remaining inventory. If there is any spare time, more Dr. Peterson half dimes will find their way to the price list as I'm committed to wrapping up that project.

Thank-you for visiting the Blog and sharing daily GFRC operations. Wishing everyone a pleasant day.

 

 

 

September 24, 2019

GFRC Proudly Presents the Labelman87 Primary Barber Quarter Date and Mintmark Set

Greetings and welcome to a special Blog edition featuring an outstanding Barber quarter consignment. The Labelman87 Barber Collection has been featured on the PCGS Set Registry and recently added to the GFRC Open Set Registry. On the PCGS Set Registry, his set is ranked in 8th position with 97.3% completion and 59.2 Weighted Grade Point Average.

After several weeks of focused efforts, GFRC is honored to be presenting this amazing Barber Quarter Collection as assembled by Labelman87. There is no question, after numerous phone calls with the consignor, that this collection was a true labor of love. It pains Labelman87 to "peel off the band-aid" and allow his cherished collection to return back to the market.

Now that the Labelman87 primary date and mintmark set gallery has been published, the GFRC community is welcomed to send in their First Rights of Refusals via email. All of Tuesday has been set aside for this process. Early Wednesday morning, all 72 pieces in this offering will be loaded to the price list with asking prices. Asking prices were arrived at in a consensus manner between GFRC and the consignor. Gem coins will have strong premiums as they should.

Come Wednesday morning, those with early FRoRs will be contacted and asked to render their purchase or pass decisions to allow those next in line to gain access. I expect a strong initial sales period for the primary set, and also the duplicates that arrive in two days.

Congratulations to the Labelman87 Collection consignor for his substantial numismatic accomplishment.

 

Labelman87 Primary Barber Quarter Date and Mintmark Set

1896-S PCGS AU58 CAC 25C

    1895-O PCGS MS64+ CAC 25C                                                         1895-S PCGS MS64 CAC 25C

    

         1897-S PCGS AU58 25C                                                             1901-O PCGS MS64 CAC 25C

    

      1907-S PCGS MS65 25C                                                           1909-O PCGS MS63 CAC 25C

    

 

           1892 PCGS MS66 25C                          1892-O PCGS AU58 CAC 25C                      1892-S PCGS MS62 CAC 25C 

        

      1893 PCGS MS64 CAC 25C                         1893-O PCGS AU58 CAC 25C                     1893-S PCGS AU58 CAC 25C    

        

   1894 PCGS AU58 CAC 25C                         1894-O PCGS AU58 CAC 25C                           1894-S PCGS AU58 5C      

            

   1895 PCGS MS61 CAC 25C                           1896 PCGS MS64 CAC 25C                       1896-O PCGS AU58 CAC 25C

            

      1897 PCGS AU58 CAC 25C                            1897-O PCGS AU58 25C          

      

   1898 PCGS MS66 CAC 25C                         1898-O PCGS AU58 CAC 25C                     1898-S PCGS AU58 CAC 25C

            

   1899 PCGS MS62 CAC 25C                         1899-O PCGS AU55 CAC 25C                             1899-S PCGS AU58 25C   

            

  1900 PCGS AU58 CAC 25C                         1900-O PCGS AU58 CAC 25C                      1900-S PCGS AU58 CAC 25C

            

 1901 PCGS AU58 CAC 25C                            1902 PCGS AU58 CAC 25C                        1902-O PCGS AU58 CAC 25C

            

  1902-S PCGS AU58 CAC 25C                         1903 PCGS AU58 CAC 25C                      1903-O PCGS AU58 CAC 25C

            

  1903-S PCGS AU58 CAC 25C                         1904 PCGS AU55 CAC 25C                      1904-O PCGS AU58 CAC 25C

            

  1905 PCGS AU58 CAC 25C                         1905-O PCGS AU58 CAC 25C                      1905-S PCGS AU58 CAC 25C

            

  1906 PCGS MS64 CAC 25C                         1906-D PCGS AU58 CAC 25C                      1906-O PCGS MS64 CAC 25C

            

  1907 PCGS MS64+ CAC 25C                         1907-D PCGS AU58 CAC 25C                      1907-O PCGS AU58 CAC 25C

            

  1908 PCGS MS62 CAC 25C                          1908-D PCGS AU58 CAC 25C                           1908-O PCGS MS64 25C 

            

  1908-S PCGS AU58 CAC 25C                         1909 PCGS AU58 CAC 25C                      1909-D PCGS AU55 CAC 25C

            

  1909-S PCGS AU58 CAC 25C                         1910 PCGS MS61 CAC 25C                      1910-D PCGS AU58 CAC 25C

            

  1911 PCGS AU58 25C                         1911-D PCGS AU58 25C                      1911-S PCGS MS64 CAC 25C

            

  1912 PCGS AU58 CAC 25C                         1912-S PCGS AU58 CAC 25C                      1913 PCGS AU55 CAC 25C

            

  1913-D PCGS AU58 25C                         1914 PCGS AU58 CAC 25C                      1914-D PCGS AU58 CAC 25C

            

      1914-S PCGS AU58 25C                             1915 PCGS AU58 CAC 25C                          1915-D PCGS AU58 CAC 25C

            

    1915-S PCGS AU58 CAC 25C                              1916 PCGS AU58 25C                               1916-D PCGS MS62 25C       

            

 

Global Financial News

World-wide equity markets are mostly flat as we start another trading day. There are no major headlines or global events to trigger greed or fear emotions and resulting sentiment.

Looking at commodities and long bond interest rates, crude oil is trading at an even $58/bbl. Spot gold is holding its recent increase and priced at $1528/oz. Bitcoin lost ground at $9725/coin. The 10 Year U.S. Treasury yield increased to 1.72%.

Seeking Alpha headlines are mostly company specific with none worth sharing.

 

Wrapping Up The Blog

Tuesday brings another day in the GFRC office. The priority activity is collating the Labelman87 First Right of Refusal requests and preparing customer notifications for Wednesday morning. Once the primary Labelman87 Collection is posted to the price list, I will be contacting individual customers and sharing their FRoR results. Attention shifts to those customers to render purchase or pass decisions.

In the background, I am still processing more Dr. Glenn Peterson Liberty Seated half dime images and will hopefully load another lot of eight coins to the price list within 24 hours.

Thank-you for visiting the Blog on a Tuesday. I truly hope you've enjoyed viewing the Labelman87 Barber Quarter Collection. I gave it my best in terms of photography and image processing.

See you tomorrow at the Blog.

 

 

 

September 23, 2019

Preparing for an Exciting GFRC Week

Greetings and welcome to the Blog on the last full week of September. How time does fly when fully engaged with important projects and long term goals.

A bout of Indian summer has taken hold in southern Maine. Yesterday's Autumn temperatures peaked in the low 80s and today's forecast calls for a high of 86F. The balance of the week sees a return to more "seasonal" temperatures, but still above average for late September.

Little is prepared for today's Blog as the Fortins spent the better part of Sunday at a Maine lake and enjoying an afternoon boat ride. Transport was the top down Miata on an ideal day weather wise. Time away from the GFRC office was overdue and welcomed. I purposely left the cellphone at home to ensure not being disturbed with phone calls or my own urge to check for email orders. When driving back home, Diane had a urge for a lobster roll. We visited a 1970s seaford eatery in Auburn that was a popular hang-out in our later teenage years. The visit was essentially a step back in time. The restaurant had not been updated for decades with the same worn booths and sailing ship models in glass display boxes. Piped in music was vintage late 1960s. But the floors and table tops were clean and the food was decent.

 

Seth Godin's Blog: On knowing what you’re doing

How about a short blogpost from Seth Godin to start our week? Godin points out the different skill requirements for following the beaten path versus venturing out in unchartered personal territory. I've spent the better part of my life exploring continents, different cultures, and business models. The results are priceless for critical examination of current geopolitical events. The downside is difficulties in maintain relationships with those who have spent a life on the beaten path. The experience gap becomes a challenge.

On knowing what you’re doing

It’s pretty easy to know what you’re doing when you’re doing something that you’ve done before.

Follow the path.

It’s a lot more difficult when the task ahead is not quite the same as what you’ve done before. When wayfinding is required.

That’s a different skill. That’s the skill of finding the common threads, seeing the analogies and leaping over the crevices. Knowing how to do something you haven’t quite done before.

Which sort of knowing is more scarce?

Which is more valuable?

 

Labelman87 Barber Quarter Sale Update

How about some Labelman87 eye candy as a teaser for opening this segment?

 1900 PCGS AU58 CAC 25C                         1902 PCGS AU58 CAC 25C                        1902-O PCGS AU58 CAC 25C

            

All preparations for the Labelman87 Collection sale have come together. Upon returning to the office after a long 6 hour holiday, suggested asking prices for all the Labelman87 Barber quarters were finalized and sent along to the consignor for review and approval. Current GFRC consignors understand this final step before their coins are posted to the price list. Today bring a conference call with the consignor to solidify opening asking prices and the final COIN system update.

Descriptions for the PCGS Registry date and mintmark set quarters have been completed. An email arrived late Sunday from GFRC's ace catalogger with an attached Excel sheet containing well researched and written descriptions. For those of you who have yet to determined who the "ace GFRC catalogger" might be, I'll let you in on the secret. GFRC is thrilled to have Len Augsburger on staff creating lot descriptions. Len is a well known numismatic author and Heritage Auctions contractor catalogger. Len has progressively taken over the description writing role on major GFRC consignments. Since the Labelman87 Collection rollout was planned for the week prior to the NH Coin Expo, it was time to hand-off the PCGS Registry date and mintmark set to Len, utilizing his expertise in handling this critical task. Having Len on staff is yet another step towards increased GFRC efficiency and heightened presence in the numismatic industry.

I will share another secret... Before heading to bed this evening, the Labelman87 PCGS Registry date and mintmark set offerings will be posted to the Blog. If interested in a sneak peak, please check back after 10:00 pm ET. The balance of the Blog will be written on Tuesday morning.

 

Global Financial News

The final week of September starts with new risks for the global economy. Asia markets are down while U.S. futures are flat. The major news of the day is an awful German factory activity report. This Seeking Alpha headlines captures the potential for a German recession before the end of 2019. Note the negative 10 year bond interest rates.

Factory activity in Germany is slowing to levels last seen during the global financial crisis as the country's manufacturing PMI tumbled to 41.4 in September, from 43.5 the previous month. "The numbers are simply awful. All the uncertainty around trade wars, the outlook for the car industry and Brexit are paralyzing order books," said IHS Markit's principal economist Phil Smith. On its current trajectory, the German economy might not see any growth before the end of 2019, meaning a recession is around the corner. Benchmark 10-year German bund yields slipped 3 bps to -0.55% on the news, while the euro fell 0.4% to $1.0974.

Adding to the sour mood in Asia equity markets was news that Chinese trade officials cut short their U.S. visit.

The Shanghai Composite started the week down 1%, while Wall Street futures didn't register much movement, as Chinese trade officials cut short their trip to the U.S. on Friday, but described the discussions as "constructive." Things are more gloomy in Europe, with Germany's DAX off 1.4%, as manufacturing activity data deepened investors' fears about a coming recession.

There is a liquidity crisis in the U.S. banking system that is receiving little attention. Major banks are holding too much U.S Treasury inventory after the Federal Reserve's Quantitative Tightening (QT) attempt.

The New York Federal Reserve will offer up to $75B a day in repurchase agreements over the next three weeks in an effort to prevent a spike in short-term interest rates. In addition, it will offer three 14-day "repo" operations of at least $30B each. Banks have struggled in recent days to find the cash needed to meet reserve requirements, though Fed Chair Jerome Powell last week downplayed concerns, saying it was not a sign of problems in the wider economy or a concern for monetary policy.

With these negative factors at work, how are commodity prices and long bond interest rates fairing?

Bond traders are in a risk on mode. The 10 Year U.S Treasury yield has dropped to 1.69% indicating a renewed flight to safety. Spot gold price has increased to $1527/oz while crude oil is trading at $58.40/bbl. For those who care, Bitcoin is priced at $9938/coin.

 

Wrapping Up The Blog

It is best to secure an early start to the day as a substantial amount of shipping awaits my attention. Yes, I will be in the GFRC office the entire day working through the last of the Labelman87 preparations along with other projects. Once the Labelman87 Collection is posted to the Blog later this evening, the balance of the week will be mostly consumed with this sale.

Thank-you for starting a new work week with a visit to the Blog. I look forward to seeing you tomorrow morning with a special Labelman87 Collection Blog edition.

 

 

 

September 22, 2019

More Seated Half Dimes From Dr. Peterson's Dansco

and

Labelman87 Barber Collection Sale Schedule

Greetings on a Sunday morning and welcome to the Blog.

Southern Maine is blessed with a perfect Autumn season. Today brings a continuation of warmer temperatures and bright sunny skies. I will probably pull another 8-10 Liberty Seated half dimes from Dr. Peterson's Dansco album and continue the effort to wrap up his Liberty Seated half dime sales.

There are many parallel efforts happening in the GFRC office. Each day brings multiplexing between three or four projects to ensure a balanced release of new inventory to the price list. At the moment, I am pricing the Labelman87 Barber Quarter Collection, processing images for the Massachusetts Collection Seated dime collection, processing images for Gerry Fortin's 1875-CC through 1877-CC referece collection Seated dimes, and extracting more Seated half dimes from Dr. Peterson's Dansco album collection.

Another wave of consignments is due to arrive this week including a lot of mint state Barber dimes, more Carson City material from the Murphys Collection, and finally a new offering from Oregon Beaver.

 

Nice Raw Liberty Seated Half Dimes from Dr. Glenn Peterson

We open today's Blog edition with a Liberty Seated half dime gallery. All pieces are raw and were recently extracted from Dr. Glenn Peterson's Dansco album. These are quality coins being offered at attractive prices. Since I've not had the pleasure of sending these through the PCGS grading gauntlet with associated grading and shipping fees, offer prices are lower. Attributions are as provided by Dr. Peterson without my double checking.

More Dr. Peterson Dansco Album Liberty Seated Half Dimes

      1850 V-5 Raw AU55 5C                                   1851 V-1 Raw AU53 5C                                1851-O V-2 Raw AU55 5C  

            

      1852 Raw AU55 5C                                      1852-O Raw EF40 5C                                     1853 NA Raw VF20 5C  

            

 

New Oregon Beaver Collection Consignment Arriving Soon

The Oregon Beaver Collection is well known among the GFRC community. Oregon Beaver has the second ranked Liberty Seated half dollar collection in the Open Set Registry, and also enjoys smaller denomination United States gold. Late last week, an email arrived with a new consignment proposal. The following lot will be shipping on Monday or Tuesday to the GFRC office. Please note the fine selection of $2.5 quarter eagle gold with nearly all being CAC approved. First Rights of Refusal are welcomed.

Barber 50c: 1897 O raw AU50; 1911-S PCGS VF35 CAC

Gold $2.5: 1856-O NGC AU55 CAC; 1873-S PCGS AU55; 1889 PCGS MS64 CAC; 1897 PCGS MS63 CAC; 1900 PCGS MS64+ CAC

 

Labelman87 Barber Quarter Collection Sale Schedule

I'm pleased to report that preparations for the Labelman87 Barber Quarter Collection sale are nearing completion. Saturday evening brought the pricing of dates up through 1900 with a COIN report provided to the consignor for his approval or changes. Core date and mintmark (PCGS Registry Set) descriptions continue to be written by GFRC's ace catalogger. Image galleries for the core Barber quarter set and separately, the duplicates, are completed.

The time has arrived to announce the Labelman87 Barber quarter sale schedule. The overall sale includes 101 desirable offerings in a four day period. Barber quarter fans should be ready for a busy week. Gaining access to the fantastic Labelman87 Collection is a once in a decade opportunity.

Following is the GFRC sale schedule that will be strictly adhered to;

Tuesday September 24

- Labelman87 PCGS Registry Date and Mintmark Set will be displayed in client gallery format as a special edition Daily Blog.

- First Right of Refusals will be immediately accepted and added to the existing requests on record.

Wednesday September 25

- The Labelman87 PCGS Registry Date and Mintmark set is loaded to the GFRC price list at 7:00 am ET.

- Individuals with FRoRs will be contacted for play/pass decisions since asking prices and full descriptions are available.

Thursday September 26

- Labelman87 Barber Quarter duplicates will be displayed in the Daily Blog as a featured gallery. Believe me, there are many fantastic duplicates too!

- First Right of Refusals will be immediately accepted on Thursday once the Blog is published.

Friday September 27

- The Labelman87 Barber Collection duplicates are loaded to the GFRC price list at 7:00 am ET.

- Individuals with FRoRs will be contacted for play/pass decisions.

 

Wrapping Up The Blog

Given the lovely southern Maine weather, I'm heading outdoors for a long health walk. Afterwards, it is back into the GFRC office to complete the Labelman87 Collection pricing recommendations.

Thank-you for making the Blog a regular part of your day. See you on Monday morning.

 

 

 

September 21, 2019

Fast and Furious Weekend - The Labelman87 Collection

Greetings and welcome to the Blog on a gorgeous Saturday morning in southern Maine. Skies are cloudless and light blue. Temperatures will be on the rise to the high 70s! The first Indian summer event of 2019 arrives.

Autumn foilage has begun its seasonal transistion. The silver maple along the driveway is the first homestead tree to show dramatic colors. I could not resist running out in bare feet at 6:30 am for a quick cellphone image. A colorful sunrise also added to the color display; note the sunrise line on the mugo pine to the lower right of the silver maple.

Early Autumn Colors - GFRC Maine Office

 

Fast and Furious Weekend - The Labelman87 Barber Quarter Collection

Preparations for the Labelman87 Barber quarter collection are moving at a fast and furious pace. All but twenty coins have completed images ready for posting to the Blog and price list. Yesterday brought the construction of the core date and mintmark gallery file. The file was shared with the consignor and GFRC's ace description specialist with positive feedback.

By the end of the weekend, I expect the core Labelman87 set descriptions and images will be completed and ready to publish. This includes both the core date mintmark set and the duplicates. The final step, and most important, is determining asking prices. Sunday is targeted for this activity followed by a wrap-up conference call with the consignor for pricing approval. If all goes to plan, I may pull in the core date and mintmark sale launch by a day or two and immediate bring out the duplicates before the end of coming week. Hold on to your hats as the next seven days will be exciting for Barber quarter and PCGS AU58 CAC enthusiasts.

Following are four better date Labelman87 Barber quarters to consider.

Coming Soon - Awesome Barber Quarter Better Dates!

 1895-O PCGS MS64+ CAC 25C                                                         1895-S PCGS MS64 CAC 25C

    

         1897-S PCGS AU58 25C                                                             1901-O PCGS MS64 CAC 25C

    

 

New GFRC United States Gold Arrivals

In between the Labelman87 set preparations, there was still time to post two new United States gold offerings to the price list. Both are quality collector pieces. The 1834 Plain 4 PCGS AU58 half eagle offers rich orange gold patina and choice surfaces. From a value perspective, you can't beat this 1914-D PCGS MS65+ $20 double eagle. MS66 certified examples trade in the $6500 to $7000 range. This MS65+ offering has gorgeous frosty mint bloom and orange-gold coloring at only $2800.

1834 Plain 4 PCGS AU58 G$5                                                           1914-D PCGS MS65+ G$20

    

 

Dan White Concludes European Buying Trip

An email arrived from Dan indicating his return trip from Brussels to Tampa happens today. Dan reports a very successful buying trip with over forty United States gold pieces being repatriated. His focus was on $10 and $20 gold including better dates and higher grades. Next comes a quick submission to PCGS with the goal of having all pieces into GFRC inventory prior to the November Whitman Baltimore show.

 

Gerry Wraps Up Another Blog Edition

Though it is Saturday, I will be in the GFRC office most of the day. Top priorities are finalizing Labelman87 images and starting the price determination process. There are also eight or more Dr. Glenn Peterson half dimes that I hope to move to the price list on Sunday.

Purchase orders are solicited and welcomed! GFRC inventory is replete with quality coins in all product lines. Consignors are staging more shipments, therefore making spaces in the inventory boxes is paramount. Please call or email for a fast response.

A sincere thank-you for the ongoing support and patronage. Have a great Autumn weekend!

 

 

 

September 20, 2019

Sneak Peak Time - Eye Appealing Labelman87 Barber Quarters

Greetings and welcome to a Friday Blog edition. Another regular work week comes to an end for many.

The Autumn season is moving along quickly with seasonal colors becoming apparent. Though we are still a full month away from peak foliage, I relish the slow visual changes in the landscape.

Thursday brought a short reprieve from the GFRC office. The overnight low temperatures were a reminder that colder weather is approaching and best to move the firewood to the garage on a comfortable sunny day. Transport of the firewood from its drying location under the sunroom to the garage was a three hour job. The exercise was welcomed but not the resulting sore back. With the seasoned wood stacked and available, all that is left is a visit by the local chimney cleaner next week.

Seth Godin Blog: “I know it’s bad – but everyone’s doing it”

I could not resist featuring Seth Godin's latest blogpost in today's edition. Godin has a way of crystallizing core societal issues in just a few sentences. The intersection of the internet and human emotions was not well anticipated years ago. Greed, insecurity, jealousy and just plain malice are easily executed and amplified via social media or at a higher level, the "news media" companies. As Godin points out, some people will sell their soul to secure money and fame. The internet provides an easy to leverage platform for ongoing bad behaviors and brings about a normalization of those behaviors. Let's remember that in many group settings, actions tend to sink to the lowest common denominator. It takes resolve, personal confidence, and the willingness to buck the crowd to rise above what everyone is doing.

By now, the GFRC community understands that the GFRC business and the Daily Blog are labors of love. The GFRC business model will eventually bring change to the numismatic industry while the Daily Blog has proven to be a transparent source of numismatic information. There is pride in waking up each morning and feeling comfortable with the person in the mirror. Each day, I do my best to re-normalize good behaviors though not perfect.

“I know it’s bad – but everyone’s doing it”

The optimists who got excited about the ‘everyone has a microphone’ promise of the Net 20 years ago overlooked two flaws in human nature:

First, given sufficient reward (money, attention, fame, notoriety) some people will show up and say and do things that they know are wrong.

Second, if enough people are in the first group of bottom fishers, many other people may decide that those behaviors aren’t as wrong as they thought they were. The internet ends up normalizing bad behavior, because bad behavior captures our attention and gets noticed. We multiply the outliers in our imagination and come to the erroneous conclusion that their behavior is common, when it actually isn’t.

There are two ways forward, and both are up to us: First, we can start paying more attention (rewarding) good behavior. And second, we can start modeling precisely the sort of discourse and contributions we hope to see from others.

The best antidote to a culture shifting to bad behavior is to re-normalize good behavior.

 

Substantial Progress on Labelman87 Barber Collection Launch

The lack of new offerings on the price list is an indication of yesterday's priorities. Other than stacking firewood for three hours, the day was spent finalizing Labelman87 Barber quarter images. I'm pleased to report that 30 or so of the 101 pieces have been completed. By tomorrow, the entire lot will be wrapped up and shared privately with the consignor and GFRC's contractor for writing descriptions.

I most proud of how the images are turning out. Much care and attention is being applied to ensure that the Labelman87 Collection is properly memorialized once broken up. If this were my personal collection, I would hope that someone would do the same for me. Following are four early date highlights to whet your appetite.

A Few Early Dates - Labelman87 Barber Quarters

1892 PCGS MS66 25C                                                   1892-S PCGS AU55 CAC 25C

    

1893 PCGS MS64 CAC 25C                                                   1893-O PCGS AU58 CAC 25C

    

 

Global Financial News

World equity markets are wrapping up the week in a quiet mood though today brings potential volality due to quadruple witching day, which refers to the simultaneous expiration of market index futures, stock futures, market index options and stock options. The Federal Reserve continues to pump daily liquidity into the banking system. This fact should not go unnoticed. Let's have a look at this situation via a Seeking Alpha headlines.

The short-term funding market has apparently not yet recovered from the hysteria seen at the start of the week, which saw repo rates skyrocket to 10%. The New York Fed will conduct another $75B repurchase operation this morning, its fourth in as many days, to help maintain the federal funds rate within the target range of 1.75%-2.00%. While the cause of the interest rate spike remains a mystery, most are suggesting that the Fed's earlier balance sheet reduction left the market with too few dollars relative to Treasuries held by financial institutions.

A good analogy for the short-term financial market funding issues is that of a business having spent too much cash flow on physical gold holdings and running out of cash for basic transactions.

Commodities and interest rates are mostly flat today. Crude oil is quoting at $58.63/bbl. $1511 will buy you an ounce of gold. Bitcoin is up slightly to $10139 while the 10 Year U.S. Treasury rate is down slightly to 1.78%.

In other Seeking Alpha headlines, Australia is moving forward as a global rare earth supplier.

President Trump and Australian Prime Minister Scott Morrison are set to release a plan today aimed at securing the supply of rare earth minerals amid growing concerns that China could cut off shipments of the treasured commodities. Rare earths are a group of 17 chemical elements used in everything from high-tech consumer electronics to military equipment. Australia contains only 2.8% of the world's rare earth reserves but accounts for more than half of the new projects in the global pipeline.

Virginia Tech's Blacksburg and adjacent Christiansburg are the site for testing Google drone deliveries.

Walgreens and FedEx are partnering with Alphabet's Wing drone business in a new test delivery program. It will see food and beverages, over-the-counter medications and other household items be eligible to be delivered by drones in Christiansburg, Virginia this October. The city was selected as the test market, as Wing has been working closely with nearby Virginia Tech in Blacksburg to explore drone delivery as part of a DOT test program.

 

Wrapping Up The Blog

Today brings a few orders to ship via the GFRC Quick Ship program followed by a health walk. The balance of the day will be allocated to the remaining Labelman87 images and wrapping up that project. All that will be left are the formulation of asking prices and description writing. I hope to return to price list new offerings come Sunday.

Thank-you for checking in that Blog. See you tomorrow.

 

 

 

September 19, 2019

Dr. Glenn Peterson Seated Half Dime Lot on Price List

Greetings and welcome to the Blog on a Thursday morning. Your patronage is appreciated.

Frost warnings were in place last evening for much of northern and western Maine. Closer to the coast, overnight temperatures dropped into the mid to high 30s. As of 7:00 am, the Raymond temperature was 37F. The autumn foliage display is underway with the driveway silver maple already 40% converted to gold, crimson and yellow colors. The arrival of colder temperatures is also a signal to get going with the transport of firewood for the 2019-2020 burning season. A day will be needed to move and stack firewood from under the sunroom to the garage.

There is little prepared for today's Blog edition after working until 10:00 pm processing Labelman87 collection images. Good progress is being made. If all goes to plan, I hope to have Labelman87's core Barber quarter set ready for display in next Wednesday's Blog followed by price list posting on Thursday morning. That leaves one week to build the gallery display, wrap up image processing, and reaching consensus on asking prices with the consignor.

 

Leveling the FRoR Playing Field for Labelman87 Collection

While spending hours formatting the Labelman87 images (a mindless task), I gave some thought to the First Right of Refusal process. Is leveling the playing field possible for the GFRC community given the wave of FRoRs that are already recorded? I believe so. Once the entire Labelman87 core Barber quarter registry set is displayed next Wednesday morning, I expect two reactions. First will be another round of FRoRs. Second will be potential shifting of requests by those individual who have already placed their FRoRs. This situation will become chaotic for yours truly with the potential to make customers unhappy. Collectors can become passionately focused when pursuing key acquisitions for a collection. To that end, I've decided to employ the follow policy for allocating first shots.

- All existing First Rights of Refusal will be honored. Those with FRoRs will have the opportunity to play or pass on their selections.

- However, these individuals will not have the opportunity to make alternate selections, on a priority based, upon viewing Wednesday's client gallery display. The scope of their FRoRs is limited to earlier requests. If wishing to make new requests, these will be queued along with others that arrive after publishing the Labelman87 client gallery.

- Current Labelman87 offerings without FRoRs will be reserved for GFRC customers who did not submit earlier requests. A new 24 hour FRoR round will be initiated once the gallery is made available on Wednesday morning. New customers to the collection will be given FRoR priority over those who already placed their requests. Those who placed early FRoRs are welcomed to place more during that 24 hour period. However, these will be queued behind those who did not submit earlier requests. Come Thursday morning, all customers are welcomed to jump into the fray and I will sort out the remaining offerings to the best of my ability.

My goal is to wrap up the sale of the "core PCGS Registry" Labelman87 Barber Quarter collection prior to attending the NH Coin Expo the following week. Duplicates will be offered on the price list after the Manchester show.

 

New Dr. Glenn Peterson Dansco Album Offerings

On Wednesday afternoon, an eight piece Liberty Seated half dime lot from Dr. Glenn Peterson's Dansco album was placed on the price list. All are offered raw and accurately graded. Below are two selections that would immediately be CAC approved if the buyer went through the TPG holdering process and secured accurate grades.

1869-S V-1 Raw AU58 5C - Choice Original                                        1870 Raw EF45+ 5C - Crusty Little Gem

    

 

Global Financial News

Global equity markets are mixed to start the day. Traders must digest implications for yesterday's 0.25% interest rate cut by the Federal Reserve. There is mounting evidence that Iran launched the Saudi Arabia oilfield attack since the missiles traveled from the north. Though there are some in Washington who want a retaliation strike by the United Stated, I suspect Trump will not fall into this trap. Any escalation and new damage to oil producing infrastructure in the Middle East will drive up oil prices and hurt the U.S. economy. Trump is a cagey old businessman and will use other means to punish Iran. Lack of a clear new mandate for Israel's Netanyahu, in current elections, must also be factored. A war with Iran will spill over into Lebanon and Syria.

Looking at commodities and interest rate, crude oil is flat at $59/bbl as is spot gold at $1505/oz. Bitcoin has pulled back to $9874/coin. The 10 Year U.S. Treasury bond yield is essentially unchanged at 1.79%.

There is little in today's Seeking Alpha headlines that excites me towards sharing. Let's take a pass here.

 

Wrapping Up The Blog

Yes, I will be in the office the entire day continuing to work on Labelman87 images along with posting more Peterson Seated half dimes or half dollars to the price list. All new postings will be raw.

Wishing everyone a pleasant Thursday. Time for another health walk and the usual morning shipping. See you tomorrow morning at the Blog.

 

 

 

September 18, 2019

Fast Moving Labelman87 Collection Processing

Greetings and welcome to the Blog on a chilly southern Maine morning. I'm glad that you've taken time to check in.

Yes, the day starts at a cool 42F with a projected high of 62 degrees. However, the cool temperatures are accompanied by a low dew point. A low dew point means a bright cloudless sky which is ideal for GFRC photography. Actually, southern Maine is forecasted to enjoy this weather pattern into the weekend before an Indian summer period returns.

So what might be on the photography agenda for today? How about some quality Liberty Seated half dimes from the Dr. Glenn Peterson Dansco album. There are still many raw pieces remaining since their value was not conducive for PCGS submission and grading fee charges. Currently queued are dates and die varieties between 1868 and 1871.

 

Is It Really September?

Odd question you may ask? September is traditionally a weak numismatic sales month. The month brings back to school activities along with the start of the college and NFL football seasons. In past years, GFRC sales were notably lower in this timeframe.

I'm most pleased to report that September 2019 is turning out to be an outstanding month for online sales. Yesterday brought a host of orders across all product lines except United States gold. In between servicing orders, I was busy processing Labelman87 Collection images against an aggressive rollout schedule. Once the Labelman87 core Barber Quarter Collection is brought to market, prior to the NH Coin Expo (October 4-5), I will be soliciting incremental consignments to reload inventory for the month of October and going into the Winter Baltimore show (November 14-16).

 

Wanted! A Low Grade or Problem 1870-CC Liberty Seated Quarter

GFRC is building its reputation for having access to better date Liberty Seated coinage. The Sunset Point 1873-CC Liberty Seated quarter was recently sold via another dealer to his client. The same client is seeking a problematic 1870-CC quarter to finish his Dansco collection. If anyone in the GFRC community has a problem 1870-CC Seated quarter that they wish to divest, now might be a good time. Please email or call me.

 

A Sneek Peek at Labelman87 Image Processing

How about a quick sneek peek at Labelman87 image processing status? I'm most pleased with the progress as all 200 images (100 coins sans 1896-S) have been aligned, and color balanced. Last evening brought the application of brightness and contrast for those pieces dated 1892 through 1895 along with cropping. All that remains, for the first 20 coins in the below laptop illustation, is a final round of color matching following by merging and file naming.

The Labelman87 Barber quarters are simply awesome and so much fun to work with! Blog readers can enjoy the sneek peek by clicking on the below image to download a large high resolution image of my laptop's screen. Please forgive the lack of crisp details on the high res image since taken with a cellphone camera.

Labelman87 Barber Quarter Collection - 1892 Through 1895 Images

 

Global Financial News

A United States banking liquidity event on Tuesday? Yes, there was a serious liquidity crisis among U.S. banks that saw inter-bank interest rates jump to as high as 10%. The Federal Reserve saved the day by injecting more than $50B into the bank system. The trouble started when big banks and hedge funds finance their daily trading with repurchase agreements based on the Feds Funds rate. The problem was as simple as a major cash flow issue for the big banks since holding too many U.S. Treasury bonds on their books. The banks had not sold enough to their downstream clients for sufficient cash flow leading to a lack of liquidity and a one day spike in interest rates.

Seeking Alpha briefly touches upon the event with this headline.

Policymakers have been thrown another unexpected curveball as cash available to banks for their short-term funding needs all but dried up on Monday and Tuesday. That forced the New York Fed to make an emergency injection of more than $50B, its first since the financial crisis, to bring down key short-term rates that had spiked to as high as 10%. Fed traders will be back this morning to restore calm by offering another $75B of cash to the market.

Crude oil prices are dropping as Saudi Arabia is quickly restoring crude oil production. Crude is down to $58.77/bbl.

The sharp reversal in Monday's crude rally is continuing, with WTI futures down 1% to $58.77/bbl, after the Saudi Arabian oil ministry announced it will fully restore output by the end of September. Energy Minister Prince Abdulaziz bin Salman also said the ministry has managed to restore supplies to customers to the levels they were at before the weekend attacks by drawing from crude stocks. Figures released by the American Petroleum Institute on Tuesday suggested a surprise 592K barrel increase, while U.S. government data on crude stocks is due today at 10:30 a.m. ET.

The South Korea and Japan trading feud is getting worst. Japan appears to be in a stronger position as a raw materials supplier to South Korea.

South Korea is following through with plans to drop Japan from a list of countries receiving fast-track approvals in trade, a reaction to a similar move by Tokyo to downgrade Seoul's trade status. The dispute between the nations began in July when Japan imposed tighter export controls on three chemicals South Korean companies use to produce semiconductors and displays for smartphones and TVs, which are major import items for South Korea. The escalating row is rooted in wartime history and could cast uncertainty into the global supply chain and economy.

Physical gold pricing is holding at $1510/oz while the Saudi Arabia oil facilities recovery process takes place. Bitcoin pricing is quiet at $10186/coin. The United States 10 Year Treasury yield has reversed course and is quoting at 1.77%.

 

Wrapping Up The Blog

First priority of the day is heading out for a health walk followed by the usual morning packing and shipping. Photography and image processing will consume the afternoon hours. I will be in the GFRC office the entire day and available for phone call or email orders. If you might have a new consignment for the October timeframe, I'm all ears.

Thank-you for being regular Daily Blog readers. I hope you've enjoyed today's ramblings. See you tomorrow morning.