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Gerry's Daily Blog

Featured Coins of the Day

1939-D PCGS MS67+ CAC 10C
Seal Beach $500


1937-D PCGS VF35 5C
Seal Beach $575


1934 NGC MS66 CAC 50C
$415


1920 PCGS MS65 CAC 50C
Osprey $525


1937 PCGS MS66+ CAC 50C
$900


1893 NGC MS63 CAC 25C
$550


 

 

December 10, 2019

Affordable Early Silver and Gold Type Offerings!

 

Quality Early Silver and Gold Type Offerings!

         1805 B-3 PCGS F12 25C                                                            1811 Small 5 PCGS EF40 G$5

    

       1806 O-109 PCGS F15 50C                      1807 50/20 PCGS VF25 CAC 50C                         1812 O-104 NGC F12 50C      

            

 

 

 

December 9, 2019

The Rascal is Back - More Liberty Seated Dime Offerings

Greetings and welcome to the Blog on a Monday morning. Another work week arrives for many.

GFRC enjoyed a busy weekend sales period to the point where I once again procrastinated on writing Christmas cards. The important 1864-S NGC EF45 Liberty Seated quarter offering saw five FRoRs and a quick sale. The Port Matilda Collection consigment was indeed popular with all four gold pieces moving to Hold status. I can't stress enough the popularity of better date United States gold when CAC approved. Port Matilda will have spending monies for the FUN show after all.

Last evening brought a scheduled phone discussion with a GFRC client concerning estate planning goals and the handling of his cherished numismatic collection. This individual is an active PCGS Set Registry participant with top rated sets. GFRC has been selected to coordinate the divestment if the client happens upon an untimely death. Our discussion was detailed and brought a keen understandings of the client's preferred approaches for selling a top quality six figure plus collection and ensuring maximum return for his heirs. The discussion was far from morbid, instead freshing to witness an individual taking a hands on approach for long term collection divestment.

Many of us should ponder and could learn from last evening's discussion including myself. My Liberty Seated dime core date and mintmark set is a seven figure asset that resides in two double row slabbed boxes in a bank vault. If I suffered an unfortunate accident, how would I want this collection to be divested to ensure that Diane, Matt and Renee received the maximum return on Dad's long term numismatic holdings? I make mention of this topic not to be somber on a Monday morning. Rather, life is not infinite. Careful divestment planning of large numismatic estates is paramount if our wishes are to be honored. Do we want the collection to be sold immediately at market value (traditional auction house event)? Do we wish for our coins to be offered privately to fellow collectors first at fair market prices? What is the envisioned time horizon for the divestment process? Who should the heirs contact to execute pre-arranged instructions?

As collectors, we are detail orientated concerning each addition to our collections. Grading, surface conditions, varieties and pricing all enter into a single purchase decision with much contemplation. Should we not use the same energy to contemplate collection divestment at a macro level to protect heirs and our fellow collectors?

 

Preview of Osprey Collection (Dan White) Offerings for the Coming Week

The coming week brings a slew of Osprey Collection offerings!

I've committed to showcase Dan White's Liberty Seated Dollar collection on Wednesday in the Blog. Coins not purchased through GFRC were photographed yesterday with image processing scheduled for today. Already, I've received a number of phone calls and emails on collection contents. Dan wishes to sell the collection as a fund raising activity for his new love (other than Rose Marie); Draped Bust dollars.

But there is much more....

The newest round of Osprey United States gold, sourced from a late September European buying trip, has been through the grading services and CAC review. This gold lot resides in the GFRC safe and will be my primary focus for the week. This lot must be processed in the near term for price list debut during late December followed by presentation at the Winter FUN show in Orlando. Please checking the Blog as this event will be conducted in multiple sessions due to size.

Along with divesting his Seated Dollar collection, Dan also passed along a few noteworthy Morgan and Trade dollars including a spectacular 1880 PCGS PR66CAM CAC Morgan and brilliant frosty 1875-S PCGS MS64 CAC Trade dollar.

 

Selling Choice Original VF30 Barber Quarter Collection

In the December 4 Blog, a choice original Barber Quarter collection was offered to the GFRC community. The collection has an average grade of VF30 and only missing the 1896-S, 1897-O, 1901-S, 1902-O, and 1913-S dates. This lot would be a great starter set upon which to build upon. Nearly all of the pieces are choice original gray with uniform toning and no issues.

I bought this set with the intention of selling as a lot as so darn cool. It took years for the prior owner to build this set at the consistent VF30 grade level. The VF30 grade level is scarce for Barber coinage as the majority entered circulation and remained there during the Great Depression. Barber survivors are typical found in well worn G-VG or well preserved AU-MS. The last thing I wish to do is break up a 69 piece set with the many Philadelphia dates consuming way too much of my precious photography and image processing resource. Honestly, I hoped to make a few dollars selling the set. But the imperative is moving the collection along to the right home and recovering my investment for Winter FUN show new purchases.

Later this week, I will publish a complete list of dates and grades in the Blog to whet your appetite. Offers will be solicited as this PCGS graded set needs to locate an appreciative home.

 

The Rascal is Back - More Liberty Seated Dime Offerings

Speaking of divestment, selling my Liberty Seated Dime die variety reference collection will probably be a decade long project. After five years, progress is being made. However, there are hundreds more quality Liberty Seated dimes that need to find new homes. Before the Florida migration of 2019-2020, I visited the Maine bank boxes and pulled two double row slab boxes of candidates to be sold. The following four offerings just scratch the surface with more to follow before the Winter FUN show. All but the 1877-S F-105 are web-book plate coins.

Look for this lot to reach the price list by evening hours. First Rights of Refusal are welcomed.

Liberty Seated Dimes - Several Web-Book Plate Coins to Consider

         1876-S Type 1 F-124 PCGS MS64 10C                                   1877-CC Type 1 F-102 PCGS MS63 CAC 10C

    

   1877-S F-105 NGC MS63 CAC 10C                                              1878 Type 2 F-105 PCGS MS64 10C

    

 

Global Financial News

Global equity markets are starting the week on a flat basis. The attainment of market record levels needs a pause to remain out of speculation territory. Seeking Alpha headlines offer a few interesting insights that will be shared. But first a look at our usual commodities and the long bond interest rate.

Crude oil is trading on the higher end of its recent range at $58.75/bbl. Physical gold is back down to the lower end of its trading range and quoting at $1468/oz. Bitcoin prices have inched up to $7488/coin. Finally, the 10 Year U.S. Treasury year stands at 1.82%.

I found this Seeking Alpha headline most interesting. China's Communist Party makes a formal move against western information technology equipment and software. The risk of spyware is indeed a global issue for Western nation and China.

China's Communist Party has ordered all state offices to remove foreign hardware and software within three years, FT reports, in a move which could hit Microsoft, Dell and HP. Substitutions will take place at a pace of 30% in 2020, 50% in 2021, and 20% the year after, earning the policy the nickname "3-5-2." Earlier this year, Washington banned U.S. companies from doing business with China's Huawei, and expanded its blacklist in October to include a number of Chinese surveillance firms like Hikvision.

This headline falls under the category of if it walks like a duck and quacks like a duck, it must be a duck!. Not so claims Federal Reserve Chair Jerome Powell. There is no QE4 underway to support the major banks though the Federal Reserve balance sheet is once again expanding.

The expansion of the Federal Reserve's balance sheet continues as $72.8B in temporary liquidity was added to financial markets on Friday. While repo interventions have become mainstream since mid-September - when short-term rates unexpectedly shot up - Fed Chair Jerome Powell has maintained the ongoing program is not quantitative easing, though some believe the central bank is in effect implementing round four of QE. Last Thursday, the Fed reported that its balance sheet had risen from $3.8T in September to $4.07T.

 

Wrapping Up The Blog

That is all she wrote for a Monday morning. Diane has a late morning HOA board meeting which means I must accelerate shipping preparations.

Thank-you for visiting with me at the Blog. I will be in the office the entire day working on a host of new offerings and hopefully, writing some Christmas cards. Please interrupt me with purchase orders!

See you on Tuesday morning with another edition and a few surprises.

 

 

 

 

December 8, 2019

Rolling Out Golden Harvest and Port Matilda Collection Consignments

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

For those of you who make a point of visting the Blog during evening hours, disappointment may have been the case on Saturday evening.

My apology as Saturday brought one of those busy days where gaining momentum on image processing proved to be impossible. Morning shipping was followed by an onsite purchase pick-up. Once back in the GFRC, the phone kept ringing with orders and consulting questions. 4:00 pm quickly arrived with a signal from Diane to prepare for the evening's Venice Christmas Boat Parade on the nearby intercoastal waterway. Dinner turned out to be local deli sandwiches and a bottle of wine as the sun set over Venice. Shortly there after, a cool parade of highly Christmas decorated power and sail boats strolled by on the waterway much to the pleasure of the gathered audience. This was our first viewing of the annual Christmas boat parade since purchasing our Florida property back in 2010. The GFRC office migration will probably take place prior to Thanksgiving again in 2020 once discovering and enjoying traditional Venice area Christmas events.

Since not being one to disappoint Blog readers, it was early to bed on Saturday evening for some needed rest; wine consumption was also an important factor. Image processing would need to get done very early on Sunday morning. Being a passionate business owner, I was up at 4:00 am. The Golden Harvest and Port Matilda Collection images were indeed completed and are showcased after a few words from Seth Godin.

 

Seth Godin's Blog - Irritated is a choice

I've reached the stage of my life where happiness is an imperative. Happiness is a state of mind that is individually owned and managed. We've often heard don't worry, be happy which turns out to be sound advice. Let's face it, being happy takes practice. Busy lives bring a host of contacts with others. Some contacts, if not well managed mentally, could easily become negative and ruin our day. The key to a happy life is to practice patience and not let other people or events irritate us. Staying off social media platforms and message boards is a wise first step. There are many unhappy trolls there just dying to ruin your day.

In the course of a day, I deal with many individuals via email and phone calls. Saturday brought the second day of email exchanges with an individual who had never made a GFRC purchase but loves reading the Blog. This individual's buying style is to submit low ball pricing offers and bargain hard for discounts. After discussions on several coins that left no profit, I advised the individual that my time was precious and could no longer entertain his buying approach. Remember that managing who we let into our lives is paramount for happiness.

Irritated is a choice

It’s a choice because you’re on this path by choice.

And it’s a choice because the act of being irritated involves the story we tell ourselves. People are rarely irritated by gravity, because gravity got here before us.

If you’re telling yourself a story that leads to you being irritated, you’re welcome to change your story.

 

Important Golden Harvest Seated Quarter Divestment

Now that we are all happy, my goal is to make Liberty Seated quarter collectors even happier!

It gives me great pleasure to announce the divestment of the Golden Harvest Collection key date 1864-S quarter. Golden Harvest is the individual that upgraded his collection with the Springfield 1864-S PCGS MS62 offering. Now that this sale is closed, his duplicate is immediately available. Below are accurate images of his duplicate. Honestly, this piece is a tad overgraded at the EF45 level and would be more accurately certified at the EF40 level. This is agreed upon between myself and the consignor. With that out of the way, let's focus on the original gray surfaces and overall eye appeal. This is a stunning example that would be the highlight of many Liberty Seated quarter collections being assembled.

As I'm composing the Blog, I see First Right of Refusal emails arriving on this piece. This is good....

Important Golden Harvest Seated Quarter Divestment

1864-S NGC EF45 25C

 

Wide Ranging Port Matilda Collection Offerings

The Port Matilda Collection consignor is an eclectic collector. From month to month, I've never sure what this individual is pursuing as part of his numismatic hobby. Immediately after the Whitman Baltimore, a shipment arrived from Port Matilda with the following pieces and two low priced Washington quarters that will just go directly to the price list.

Please have a careful look through these offerings as Port Matilda wishes to raise spending money for the upcoming Winter FUN show. I like the run of mostly CAC approved Indian cents in MS63-MS64 grades. These are inexpensive and would make a nice starter set. The 1805 5 Berries dime is a really sweet offering that should garner attention. Ditto for the three choice original Liberty $10 gold eagle with CAC approval. The lot rounds out with several early halves to consider.

If all goes to plan, these offerings should reach the price list by this evening. But I do need to get going on Christmas card writing too....

Wide Ranging Port Matilda Collection Offerings

1805 5 Berries JR-1 PCGS F15 CAC Medal Turn Rev 10C                                   1851 PCGS AU50 CAC G$10                    

    

1893-O PCGS AU58 CAC G$10                                                   1906-O PCGS AU58 CAC G$10

    

      1897 PCGS MS63BN CAC 1C                         1899 PCGS MS64BN CAC 1C                      1900 PCGS MS63BN CAC 1C   

            

      1903 PCGS MS64BN CAC 25C                            1905 NGC MS63RB 1C                             1907 PCGS MS64BN CAC 1C   

            

         1909 NGC MS64RB 1C                               1819 O-111 PCGS EF45 50C                      1820 O-108 PCGS EF45 CAC 50C

            

      1870 PCGS EF45 CAC 50C                            1910 PCGS AU53 G$5         

      

 

Wrapping Up The Blog

It really is amazing how the Blog somehow gets done on time. At this point, writing the Blog and moving great coins through the GFRC system is a lifestyle. Most important is being happy with the process and usage of time. Time is not infinite and best to be pursuing activities that bring joy.

I will be in the office the entire day and look forward to your purchase orders via email or phone call.

See you on Monday morning at the Blog.

 

 

 

December 7, 2019

A Date Which Will Live in Infamy

and

GFRC Eye Candy - Cheap Thrills

Greetings on a Saturday morning and welcome to another edition of the Blog.

A Date Which Will Live in Infamy

December 7 is one of two somber days that Americans should never forget. The other is September 11. The preemptive military attack on Pearl Harbor by the Japan Imperial Navy lead to the United States entering World War II against Japan and Nazi Germany. The events leading up to the Pearl Harbor attack are complex. Japan and the United States were conducting peace treaty negotiations while Japan prepared for its conquest of Southeast Asia. Japan had planned to terminate peace negotiations and announce formal war with the U.S prior to the attack. But ancient communications methods failed the Japanese and awoke a giant that had been working to remain neutral to that point during the second World War.

A total of 2403 Americans were killed that day. 2008 of the dead were sailors with most being junior enlisted men in their late teens and early twenties. Of the eight battleships docked in Pearl Harbor, the Arizona, Nevada, Oklahoma, California and West Virginia were sunk. The Tennesse and Maryland received minor damage and were back in action by early 1942. The Pennsylvania was it drydock and also received minor damage.

Key was the fact that President Roosevelt had done his utmost to keep the U.S. neutral until that day. The largest benefactor of the Pearl Harbor attack was Winston Churchill and the British people. Finally, Americans would come to the aid of the British after they had survived the Battle of Britain against the Nazi Luftwaffe.

Methods for waging war have changed dramatically since the Pearl Harbor attack and 9/11 Twin Tower destruction. Nuclear weapons are so devasting to make their usage unconscionable. This leaves modern day cyber and economic warfare as the tools of aggression. Any country losing its power grid or telecommunications capabilities would be crippled. We should always remain vigilant....

 

Cheap Thrills?

I've been experiencing quite the musical journey since arriving in the Venice office. Tidal is an awesome musical streaming source that keeps me company in the GFRC office. Rather than spending evenings in the Maine basement sound room to chill out, the Venice office operates with continuous music of every imaginable genre; well almost. The Venice sound system is primitive as compared to Maine; a Dell laptop streaming via Bluetooth to a Bose speaker box. Condo living and space would not allow much more.

When formatting the images for a beautifully toned 1947-S Washington quarter taken in trade, I said to myself that this piece was a cheap thrill. The connection to Big Brother and the Holding Company (featuring Janis Joplin) was instantaneous and an idea for today's Blog.

Cheap Thrills Come Many Ways

1947-S PCGS MS66 25C - Beautifully Toned

    

 

Port Matilda Collection Consignment Arrives This Weekend

Progress is being made with consignment backlog along with posting the balance of Whitman Baltimore show new purchases. This weekend's emphasis moves to a quality consignment from the Port Matilda Collection. This consignment features a wide range of denominations and offer prices with most being CAC approved. There should be something for every GFRC customer other than those die hard Liberty Seated dime and quarter enthusiasts.

Following is a breakdown of the forthcoming Port Matilda consignment. First Rights of Refusal are welcomed.

Indian 1c: 1897 PCGS MS63BN CAC; 1899 PCGS MS64BN CAC; 1900 PCGS MS63BN CAC; 1903 PCGS MS64BN CAC; 1905 NGC MS63RB; 1907 PCGS MS64BN CAC; 1909 NGC MS64RB

Draped Bust 10c: 1805 5 Berries PCGS F15 CAC wonderfully original and so choice

Washington 25c: 1939 PCGS MS65 CAC frosty white; 1949-D PCGS MS65

Capped Bust 50c: 1819 PCGS EF45 center rose and peripheral blues; 1820 PCGS EF45 CAC near gem for the grade

Seated 50c: 1870 PCGS EF45 CAC classic choice original gray toning

Indian $5: 1910 PCGS AU53

Liberty $10: 1851 PCGS AU50 CAC crusty green-gold patina; 1893-O PCGS AU58 CAC medium yellow-green gold and choice; 1906-O PCGS AU58 CAC another medium yellow gold piece with choice original surfaces

 

More Eye Appealing Whitman Baltimore New Purchases

Friday evening brought the posting of more Whitman Baltimore show new purchases to the price list. GFRC clients are advised to pay careful attention to this offerings. Highlights included a lovely Mint State 1837 GR-14 Reeded Edge half with old time copper-gold patina and the only 1890 Liberty Seated half dollar to receive the coveted PCGS Proof Like (PL) certification. The latter is an unquestionable gem and I have no clue is to why CAC would not sticker this piece. Alternative PCGS TruView images can be found by clicking here for the 1890 MS64PL offering. This piece is unquestionably unique and important.

GFRC continues to selectively add Capped Bust halves to the price list. I see many examples during wholesale buying events and focus on those that have superior eye appeal for the grade. If they catch my eye and are strictly original, there is a chance that you might see them in a similar manner. CAC approval is desirable but not the end all for Capped Bust halves. Many CAC approved Capped Bust halves are dark and not attractive. Luster and attractive toning float my boat for this series.

Finally, GFRC is slowly building its early silver commemorative inventory with top quality eye appealing offerings. If you are shopping early silver commemoratives with a Greysheet, then don't bother to visit this price list. Beautifully toned commemoratives still carry a premium and will not be had at Greysheet levels. I'm in love with the 1921 Alabama 2x2 offering.

Eye Appealing Whitman Baltimore New Purchases

        1837 GR-14 RE PCGS MS64 50C                                                       1890 PCGS MS64PL 50C - Pop 1

    

    1827 Curl Base 2 PCGS AU55 50C                                                   1832 Sm Letters PCGS AU55 50C

    

    1921 Alabama PCGS MS64 OGH 50C                                               1938 New Rochelle PCGS MS66+ 50C

    

 

Wrapping Up The Blog

Thank-you for stopping by at the Blog on a Saturday.

As usual, I will be in the GFRC office the entire day and look forward to selling a few coins towards making room for the ongoing flow of new arrivals. Please remember that I am just an email or phone call away and look forward to your inquiry, or better yet, a purchase order.

See you tomorrow at the Blog.

 

 

 

December 6, 2019

Dan White's Seated Dollar Collection Divestment

and

A Steady Flow of GFRC New Offerings

Greetings and welcome to a Friday Blog edition. Another work week comes to a conclusion.

Today's preamble will be brief as there is much Blog imagery to hopefully satisfy visitors. Thursday brought an especially long day in the GFRC office including the final Black Friday order shipments and the return of a second round of CAC submissions. Another twenty pieces of Osprey's European sourced gold landed in the photography queue. Honestly, the GFRC office is starting to feel like a factory floor without processing equipment and their maintenance issues. As long as my ancient Nikon CoolPix995 (I'm on my third unit) keeps operating along with two Dell laptops, coins will continue to march through the office towards a new home with buyers.

The recent string of well populated Blog editions is having a positive impact on readership. Just yesterday, there were nearly 750 hits on the Blog page in a 24 hours period. Typical hit rates are in the 575 - 625 range. This type of feedback keeps me motivated and incentivized towards preparing a continuing flow of visual content. At some point, I must take a day off from the numismatic factory floor to write Christmas cards.....

 

Highlights from Dan White's Seated Dollar Collection

As time moves along, more and more previously sold GFRC coins are finding their way back to me. Case in point is Dan White's marvelous Liberty Seated Dollar collection. Since Dan operates as a GFRC partner, there is the priviledge of gaining first access to fresh coins. During the past several years, Dan has been quietly constructing both Draped Bust and Liberty Seated dollar sets. He has sourced a fair number of his Seated dollars from GFRC.

At the recent Whitman Baltimore show, it become apparent that Dan would bring his full energies towards the Draped Bust dollars. The Seated dollars needed to be sold for shifting numismatic monies into the Draped Bust set. Dan's Wednesday office visit cemented that decision with a group of old friends returning to the fold; and what a group this is!

Following are four important highlights from the Osprey Liberty Seated Dollar collection for your consideration. There are more pieces forthcoming including an 1857 example graded NGC MS64+ with CAC approval. This piece along with several others are in the GFRC photography queue. As a result, the complete Osprey divestment will not be featured until December 12. Adequate preparation time is necessary given the current office volume rate. Enjoy!

Highlights from Dan White's (Osprey) Seated Dollar Collection

Fine Numismatic Properties from a Gentleman - Available December 12, 2019

1850 PCGS AU55 CAC OGH $1C                                                         1853 PCGS MS64 CAC $1

    

1856 NGC AU58 $1                                                                       1859-S PCGS AU53 $1

    

 

Now that CAC submissions have returned, a fresh wave of Whitman Baltimore new purchases will be arriving to the price list through early next week. Following are three quality early quarters for your consideration. Solid coins sell quickly as the 1820 Large 0 and 1831 Small Letters Capped Bust pieces are already on hold. The 1853 No Arrows quarters is an important offering given its AU53 grade level and strictly original surfaces.

Whitman Baltimore New Purchases - Hand Picked Early Quarters

1831 Small Letters B-1 PCGS AU55 25C - On Hold

             1820 Large 0 B-2 PCGS VF30 25C - On Hold                              1853 No Arrows PCGS AU53 25C - Rare Grade!        

    

 

New Winesteven Collection Duplicate

The Winesteven collector is a no question passionate type set builder. The strategy behind type set building is different than constructing a date and mintmark set. With type sets, there are no key dates to worry about. The focus is on acquiring the absolute best graded piece by design with eye appeal and CAC approval being critical for this individual. His sets can be found on the PCGS Set Registry website. As upgrades are located, the duplicates are steered to GFRC for divestment.

This week brought the transfer of an awesome 1861 Copper Nickel Indian cent. At the PCGS MS66+ grade level with CAC approval, we are pushing the top end of the graded populations for the 1860 through 1864 dates. CAC approval has a substantial impact on pricing as the market shifts towards CAC exclusive registry sets.

The following new Winesteven has been priced. Once I have confirmation on the offer number, this gorgeous piece will be heading to the price list; probably by the afternoon hours.

Winesteven Collection Returns with PCGS Registry Set Indian Cent Duplicate

1861 PCGS MS66+ CAC 1C

 

Closing out today's image galleries are two crusty original No Motto U.S. eagles. Both are Whitman Baltimore show new aquisitions that have been patiently waiting in the GFRC photography queue. Florida sunshine did them well....

Crusty No Motto Liberty $10 U.S. Gold

1847-O PCGS EF45 CAC G$10                                                        1855 NGC AU58 CAC G$10

    

 

Global Financial News

Equity market futures are solidly green as more positve signals are emerging on the Phase One China - U.S. trade deal. A United States job markets report is also due out today with high hopes for incremental economic expansion. Market are upbeat regardless of the local circus playing out in Washington DC.

Commodities and the long bond interest rate are flat to yesterday. For the record, physical gold is quoting at $1481/oz while $58.42 will buy you a barrel of crude oil. Bitcoin is currently priced at $7355 while the 10 Year U.S. Treasury bond yield is 1.79%.

Let's wrap up this segment with a few Seeking Alpha headlines. First up is a headline that typifies the stupidty of our government and/or sponsored agencies. The U.S. funded World Bank plans to continue loaning monies to China through 2025 since still a developing nation. Hard to believe!

The World Bank is adopting a new plan to aid China with $1B to $1.5B in low-interest loans annually through June 2025 despite objections from Steven Mnuchin. The U.S. Treasury secretary argues China is too wealthy for such international aid, pointing to the hundreds of billions of dollars it has loaned to poor countries through its Belt and Road Initiative. U.S. lawmakers are also increasingly concerned that taxpayer funds loaned through the World Bank to China will enable human rights abuses and unfair economic competition.

China-made Tesla cars will qualify for government subsidies approaching $3550.

Tesla's Model 3 has been included on a list of vehicles eligible for subsidies published by the Ministry of Industry and Information Technology. That means buyers will get a subsidy of as much as about 25,000 yuan ($3,550) from the government, a potential boon for the automaker as it prepares to start selling vehicles from its Shanghai car plant. In October, Tesla said locally-built Model 3s will be priced from about $50,000.

Sharing the pain of oil production cuts among OPEC and non OPEC members can be acrimonious. It appears that Russia is not on board to the latest OPEC production strategy.

Cohesion among the group is in the spotlight as OPEC canceled its customary press conference yesterday following an acrimonious meeting in Vienna that ran late into the evening. Led by Saudi Arabia, the alliance agreed in principle to cut production by an additional 500K barrels per day through the end of March 2020, according to sources from CNBC and Reuters. But the group must still convince a faction of its non-OPEC allies, including Russia, in a bid to prop up oil prices.

 

Wrapping Up The Blog

Not much changes here in Venice. After hitting the upload button, I'm off to a shower followed by the day's order shipments. Afterwards, it is back to photography and more image processing. There will be more visual content preloaded into the Blog by dinner time.

GFRC sales are typical for a December timeframe. Yesterday, the 2019 volume total exceeded that of 2018 with another three plus weeks remaining on the calendar. I'm most pleased with this milestone and hope that you might drive GFRC to a higher annual sales record for 2019.

I will be in the office the entire day. Please don't be bashful with phone or email orders. The Quick Ship progam is seeing an intensive workout prior to Christmas.

Thanks for stopping by!

 

 

 

December 5, 2019

Another Round of GFRC New Offerings

and

Osprey Liberty Seated Dollar Collection Divestment

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

Composing the Blog does present challenges at times. I'm sitting in the GFRC office with a cup of coffee and contemplating the day's meaningful content. What comes to mind are the topics that cannot be discussed. Mentioning Florida's ongoing sunny weather and comfortable temperatures is inappropriate as many friends and customers deal with an early winter in New England and the west coast. Happenings in DC are definitely off limits for obviously reasons as the country continues down a deeply polarized path. Social media activism is rampant with any person or advertisement fair game for violating politically correct "norms". I must assume Blog readers are like me; attempting to pursue a happy life whether middle aged or retired. The Blog's daily goal is discussion that leads to wide ranging personal insights, continuous improvements, and ongoing pleasure with our numismatic hobby.

My mother was a tough French-Canadian woman with an obsession for cleanliness. She taught me a key point during my young years. I would often hear her say, "mind your own business" whenever I tried to compare my upbringing to that of my friends. I won't go into the details about the upbringing as hints have been previously offered in past Blog editions. However, the "mind your own business" guidance became part of a psyche. Today's modern life appears to go against my mother's advice. It is now in vogue to be perpetually judgmental about most anything that catches our attention. Social activism is often used as an explanation for judgments and negativity. Have you noticed this trend? Sure you have, we all have...

How this situation evolves is an unknown. In the meantime, my focus within the Blog is happiness with a life and our hobby. I enjoy watching global events and politics with life experience based reflections and connecting the dots for potential outcomes. Those I will continue to share. But there might be some (happiness) wisdom for life in the modern age per this tough woman's advice...keep to yourself and mind your own business.

 

GFRC News Update - Dan White (Osprey) Visits The Office

Ok, what is so special about Dan driving 10 minutes from Osprey to Venice for an office visit? The visits are frequent during the winter months. Dan and I will catch-up on personal lives, our views of the world, and GFRC forthcoming business strategies.

Yesterday's visit was typicaly until Dan opened a PCGS black box full of coins. With a gleam in his eyes, he announced the contents of the box were a new consignment. The first few coins were nothing special; low to medium priced U.S. gold. That all changed once half way through the box. The remaining pieces were Dan's Liberty Seated Dollar collection to be immediately divested. A command decision had been made by Dan. His collecting interests have solidified towards Draped Bust dollars. I'm not surprised as Dan has always had an interest in early Americana artifacts. Now the decision was made to concentrate on building an exemplary collection of early dollars. The Seated dollars acquired mostly via GFRC were immediately available for sale.

In Friday's Blog, I will announce the contents of Dan's Seated dollar divestment and provide images since most passed through GFRC to Dan. Believe me, there are some serious coins in this consignment. Please check back later today or early tomorrow morning for the itemized list and potential First Rights of Refusals.

 

More Great Offerings Reaching the Price List

The GFRC office is loaded with new offerings; how I wish that my processing bandwidth were quicker.

Wednesday brought a small group of nice Barber quarters including a key date 1896-S to the price list. Those are illustrated next. Evening hours saw small denomination U.S. gold posting to the Blog and price list. All are CAC approved. Those pieces are featured as an incremental gallery for your enjoyment and consideration.

More Great Barber Quarters to Consider

   1892 NGC MS65 Star 25C - Eye Candy                                                1896-S PCGS EF40 25C - Key Date!

    

   1906-O PCGS EF40 CAC 25C                                                            1915-S PCGS AU53 CAC 25C

    

 

Small Denomination U.S. CAC Approved Gold

 1853-O PCGS MS63 CAC G$1

    1857 PCGS AU58 CAC Rattler G$1                 1874 PCGS MS64 CAC OGH G$1                 1843 PCGS EF45 CAC G$2.5         

            

     1852 PCGS MS63 CAC G$2.5                         1855 PCGS MS62 CAC G$2.5                  1847 PCGS AU55 CAC OGH G$2.5

            

    1909 PCGS MS63 CAC G$2.5                        1910 PCGS MS63 CAC G$2.5                         1912 PCGS MS63 CAC G$2.5  

            

 

Global Financial News

Equity market futures are flashing green as the Blog is written. The happy talk concerning some sort of Phase One China - U.S. trade deal is fueling global market traders. At current elevated levels, markets have factored in a positive Phase One outcome and a delay in the December 15 round of incremental trade tariffs. If a Phase One deal does not materilize within the next week or so, then a small market correction would not surprise me.

Looking at the usual commodities and long bond interest rate, we find spot gold quoting at $1480/oz. I reviewed the Kitco technical charts this morning and believe that gold's upward trend remains intact. There is no question that 2020 will bring at least $1600/oz gold prices, maybe more given global trade friction. Crude oil prices moved up several dollars a barrel as OPEC and Russia are meeting towards more production cuts to offset U.S. shale oil production. More on that point with a Seeking Alpha headline shortly. Bitcoin is mostly flat at $7374/coin while the 10 Year U.S. Treasury yield hovers at 1.78%.

Is a stealth QE4 underway by the Federal Reserve? I'll present a graph on the Fed's growing balance sheet in tomorrow's Blog.

Moving to Seeking Alpha headlines, we open with insight on OPEC/Russia oil pricing discussions.

Reports out of Vienna suggest OPEC and its allies led by Russia are discussing increasing current cuts of 1.2M barrels per day by more than 400K bpd, as well as extending their agreement from March, to June or later. Crude futures already soared 4.2% on Wednesday - the biggest gain since the attacks on Saudi Aramco's facilities - on output cut rumors and tightening American stockpiles. A final decision by OPEC+ is likely to come tomorrow afternoon. The group has curbed supply since 2017 to counter booming output from the U.S., which has become the world's largest producer.

France is under seige by its unions. Have you ever done business with French nationals? I have with a number of stories to share on their aggressiveness.

Protests are rocking France again and threatening to bring the country to a standstill over Emmanuel Macron's plan for a top-to-bottom rebuilding of the pension system. Unions representing everyone from transport workers to lawyers, doctors, teachers and students are going on an indefinite "greve," or strike, starting today. The walkouts come as German industrial orders fell unexpectedly in October and eurozone retail sales slumped a worse-than-forecast 0.6%.

We close this segment with a piece on the China - U.S. Phase One trade deal and its importance.

Traders are closely monitoring the prospect of a Phase One trade deal with just 10 days to go before Washington is poised to impose another $156B of tariffs on Chinese goods. Trade optimism led the DJIA to break a three-day decline on Wednesday and rise nearly 150 points, while U.S. futures aimed to extend the gains overnight, climbing another 0.4%. On the data front, the latest weekly jobless claims will be released at 8:30 a.m. ET, while earnings season wraps up.

 

Wrapping Up The Blog

Today will be like most other days. Shipping opens the day once the Blog is uploaded followed by image processing and loading new offerings to the price list. I must stay ahead of the incoming flow of coins. Selling coins is also paramount and that is where your support is required. Please consider a purchase.

I will be in the office and available the entire day for inquiries, questions and purchase orders.

Thanks for stopping by at the Blog.

 

 

 

December 4, 2019

GFRC Offers Choice Original Barber Quarter Collection

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

Another numismatic day arrives in the GFRC office. I was up early with a hot cup of coffee and catching up on the latest impeachment news. Sorry, but that is at far as I will go on that topic. I'm on top of the show that never ends and keeping thoughts and feelings to myself.

Dan White visits the Venice GFRC during early afternoon and has promised an incremental consignment. Based on Whitman Baltimore conversations with Dan, the consignment may be substantial. It might be wise to check in at the Blog on Thursday for an update.

 

Seth Godin's Blog - The transition to leadership (being a B student is perfectly fine)

Seth Godin comes to the rescue with a leadership blogpost that captured my attention several days ago. His post brought back memories of my years in China working for CSMC Technologies. Since face is so important to Chinese people, educational backgrounds are constantly touted during relationship building meetings. The Taiwanese on the CSMC staff would enjoy sharing their PhD doctorate credentials from Stanford or other major American universities. Then there was Gerry with a BSEE from the University of Maine and fortunate to not be working in a hometown shoe shop for the rest of his adult life. Not much face there as measured by Asian standards.

Back to Godin's blogpost as I've digressed....

Leadership is a special skill that requires intuition, vision, and risk taking. B students are perfectly suited for leadership roles as they may have been distracted during university years with activities outside of the classroom that rounded them as human beings. I've enjoyed a successful professional career without a Masters or PhD degree. The key factors were continuous self improvement, ongoing risk taking, and the pursuit of uncharted paths. One can acquire a host of life skills when operating in an alternate sphere.

The transition to leadership

The flawed theory is that A+ students become good leaders.

There’s no reason to think that this should be true.

Doing well on tests, paying attention to what’s being asked, being diligent in short-term error correction–these are three hallmarks of someone who is good at school.

None of these are important once you’re charged with charting a new path, with figuring out what to do next. In fact, they get in the way.

We invented the educational regime to produce compliant factory workers. But the most compliant aren’t always suited to be the bravest, the most empathic or the most intuitive.

 

GFRC Purchases Choice Original Barber Quarter Set

In the past week, I've hinted in the Blog about a forthcoming purchase of a Barber quarter set. That purchase was finalized on Tuesday.

What a thoroughly cool set of freshly graded Barber quarters with an average grade of VF30! Most impressive is the strict originality of the individual pieces and choice surfaces. I just could not pass up this set regardless of the many lower priced dates. Locating Barber quarters in uniform VF30 grade with natural gray surfaces is not a short term project. I'm certain that the set took years to construct. Missing are five dates; 1896-S, 1897-O, 1901-S, 1902-O, and 1913-S. The 1896-S, 1901-S and 1913-S are no surprise as the Barber quarter key dates. BTW, GFRC purchased a wonderful 1896-S PCGS EF40 quarter at the Whitman Baltimore show from the same source as this set. My theory is that the 1896-S was originally part of this set as the surfaces and toning are consistent with those in this collection. The whereabouts of the other four dates are unknown.

As I reviewed the set, it became obvious that many pieces are CAC submission candidates. Sure, individal coin values probably don't justify the additional cost of CAC submission and shipping expenses. Just for reference, my gut feel is that 50% of the quarters would CAC as having the classic crusty gray patina that is frequently rewarded by John Albanese. For the record, these pieces have not been to CAC.

Barber collectors might wish to step back for a moment and consider this opportunity. What kind of effort would be necessary to assemble a nearly complete Barber quarter set in uniform grade with nearly every piece being choice original? What are the grading fees for certifying 69 Barber quarters? Using the lowest possible dealer Economy rate at PCGS, that number is about $1100+.

Like the Newtown gold grading set sold during November, I have no plans to break up this set. It is way too special and will be sold as is. Please call me at 207-329-9957 if wishing to have more information on specific dates in the set. Serious inquiries only please....

Choice Original Barber Quarter Set - Highlights

Circulated VF20 - EF40 Grades: Offered at $8475 Firm

Freshly graded with uniform original toning, choice surfaces, and many CAC candidates

Missing 1896-S, 1897-O, 1901-S, 1902-O and 1913-S

Call Gerry at 207-329-9957 for complete description

1896-O PCGS VF30 25C                                                                 1897-S PCGS VF30 25C

    

1901-O PCGS VF20 25C                                                                1905-O PCGS VF35 25C

    

1909-O PCGS VF30 25C                                                              1911-D PCGS VF30 25C

    

1913 PCGS VF30 25C                                                                   1914-S PCGS VF20 25C

    

 

Entire Barber Quarter Set Contents and Grades

1892 PCGS VF30; 1892-O PCGS VF35; 1892-S PCGS VF30; 1893 PCGS VF30; 1893-O PCGS VF30; 1893-S PCGS VF25;

1894 PCGS VF35; 1894-O PCGS VF35; 1894-S PCGS VF30; 1895 PCGS VF30; 1895-O PCGS VF35; 1895-S PCGS VF30; 1896 PCGS VF30; 1896-O PCGS VF30;

1897 PCGS VF25; 1897-S PCGS VF30; 1898 PCGS VF25; 1898-O PCGS VF30; 1898-S PCGS VF30; 1899 PCGS VF30; 1899-O PCGS VF30; 1899-S PCGS VF35;

1900 PCGS VF30; 1900-O PCGS VF30; 1900-S PCGS VF30; 1901 PCGS VF30; 1901-O PCGS VF20; 1902 PCGS VF35; 1902-S PCGS VF30;

1903 PCGS VF30; 1903-O PCGS VF30; 1903-S PCGS VF30; 1904 PCGS VF30; 1904-O PCGS VF25; 1905 PCGS VF30; 1905-O PCGS VF35; 1905-S PCGS VF30;

1906 PCGS VF30; 1906-D PCGS VF25; 1906-O PCGS VF25; 1907 PCGS VF30; 1907-D PCGS EF40; 1907-O PCGS VF35; 1907-S PCGS EF40;

1908 PCGS VF30; 1908-D PCGS VF30; 1908-O PCGS VF25; 1908-S PCGS VF30; 1909 PCGS VF35; 1909-D PCGS VF30; 1909-O PCGS VF30; 1909-S PCGS VF25;

1910 PCGS VF35; 1910-D PCGS VF30; 1911 PCGS VF30; 1911-D PCGS VF30; 1911-S PCGS VF35; 1912 PCGS VF35; 1912-S PCGS EF40;

1913 PCGS VF30; 1913-D PCGS VF30; 1914 PCGS VF30; 1914-D PCGS VF35; 1914-S PCGS VF20;

1915 PCGS VF35; 1915-D PCGS VF35; 1915-S PCGS EF40; 1916 PCGS VF30; 1916-D PCGS VF30;

 

What Comes Next at GFRC?

I'm currently processing United States gold new purchases from the Whitman Baltimore show. The newest gold offerings will appear in the Blog later this evening and on the price list during Thursday. Much of the new offerings are CAC approved. Please make a point of checking back at the Blog during the evening hours if a fan of U.S. gold.

 

Global Financial News

Equity markets find themselves in a see-saw mode due to conflicting indications of a Phase One China - U.S trade deal. Asian markets are down while U.S. and European markets are flashing green futures.

On the commodities and interest rate front, risk on continues to be the sentiment. Physical gold has moved up to $1481/oz after making a well defined recent chart bottom at the $1465 mark. Crude oil is holding at $56.80/bbl while Bitcoin is quoting at $7200/coin. As expected, the 10 Year U.S. Treasury yield dropped to 1.75% given concerns about equity markets being able to sustain recent record gains during impeachement process and ongoing China - U.S. trade friction.

Let's check in on a few Seeking Alpha headlines to close out this segment. We start with Boris Johnson backing a UK digital services tax on U.S. tech giants.

The U.K. risks escalating a European trade war with the U.S. by vowing to push ahead with a British digital sales tax, a day after the Trump administration threatened to punish France for imposing a similar measure. "We need to sort that out and make sure they make a fairer contribution," Prime Minister Boris Johnson declared. Britain is proposing a 2% tax on U.K. revenues of U.S. tech giants, while the French levy is set at 3%.

Will a Phase One trade deal get done in December? It depends who you listen too! BTW, for those who don't know their China geography, Xinjiang province is located in western most China and inhabited by ethnic moslems.

Despite a 550-point drop for the DJIA over the last two sessions, U.S. futures are now suggesting gains of 0.5-0.7% at the open after sitting deep in the red for most of the night. Trade-inspired movement... Bloomberg reported that the U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a Phase One trade deal despite legislation over Hong Kong and Xinjiang. The pact would be completed before another tariff deadline on December 15, despite comments a day earlier from President Trump that cast doubt on a quick agreement.

 

Wrapping Up The Blog

It is best to get going on another busy GFRC office day. The last of the Black Friday and Cyber Monday shipping will be finalized this morning followed by more photography and a Dan White afternoon visit.

I will certainly be in the GFRC office the entire day waiting for your purchase orders. Please don't disappoint me.....

Thanks again for stopping by at the Blog and taking in these daily ramblings. See you tomorrow morning.

 

 

 

December 3, 2019

Bill Bugert: A Numismatic Giant Retires as E-Gobrecht Editor

Greetings and welcome to the Blog on a Tuesday morning. The Black Friday sale and Cyber Monday are in the rear view mirror after a huge amount of GFRC sales. I could not be more pleased. A sincere thanks goes out to the many GFRC customers who shopped the Black Friday sale and the Mountain View Liberty Seated quarter collection consignment on Monday.

Today's Blog edition will be brief and focused as I'm facing twenty+ priority boxes to be packaged and shipped prior to 2:00 pm.

 

Bill Bugert - A Numismatic Giant Retires as E-Gobrecht Editor

E-Gobrecht Issue #179 arrived to LSCC club member email inboxes on Sunday. This issue may appear to be yet another edition in a long string published by Editor, Bill Bugert. Given our busy lives and bombardment with everyday emails, newletters, spam, and advertising, it may be difficult to fully fathom the significance of E-Gobrecht Issue #179.

The year was 2004 and the internet revolution was underway. The Liberty Seated Collectors Club's only publication was a small black & white journal that appeared three times per year. If club members wished to share any club news with other club members, their article went through John McCloskey and his vigorous editorial standards. There was a long time lapse from the date of article submission to the actual publication. Obviously, it was impossible to share any real time news or announcements with the membership.

The E-Gobrecht was the brain child of Bill Bugert and Michael Fey. Bill took on the challenge of preparing a monthly LSCC newsletter with the first edition appearing during January 2005. The initial editions were composed with Microsoft Word and had the appearance of a college newspaper. Bill did his best to solicit writers and articles to maintain the momentum of this pioneering effort. During a period of fifteen years, the E-Gobrecht saw continuous improvements based on advancements in publishing technology and Bill's fearless approach towards driving improvements. Many contributors came and eventually burnt out and left due to the demands for writing monthly pieces for the E-Gobrecht. Today's columnists are dedicated contributors who recognize the importance of maintaining this publication. Along the journey, the E-Gobrecht won publishing awards within the numismatic industry and became one of the core products of the Liberty Seated Collectors Club.

The longevity and impact of the E-Gobrecht would not have been possible without the persistence and commitment of Bill Bugert and a host of ongoing writers. In today's Blog, I would like to focus on Bill Bugert as the driving force behind the E-Gobrecht.

Bill is an incredibly talented numismatic researcher and publisher. If you have a chance to interact with Bill, his humble manner immediately becomes evident. Bill always praises his contributors and moves the spotlight away from his personal leadership and ongoing commitment necessary for generating a well recognized product and the embedded services to club members. Without Bill Bugert, the E-Gobrecht and its years of publishing innovation would not exist. Great products require ongoing attention from talented people. Bill Bugert is one of the giants in our hobby. As with each of us, our time and energy is finite. Eventually, the day arrives when it is wise to pass the leadership torch to a new generation. This Bill has indeed done and passed the torch with his final E-Gobrecht edition.

From the bottom of my heart, I would like to personally thank Bill for all that he has done for the numismatic hobby concerning the E-Gobrecht, the Gobrecht Journal, and the ongoing publications of his Liberty Seated Half Dollar die variety Registers.

Please click on E-Gobecht #179 image to download this edition. Blog readers can locate E-Gobrecht #1 at the Newman Numismatic Portal if the embedded link for the image is working properly. Please give it a try....

An Amazing LSCC E-Gobrecht Journey

E-Gobrecht #1                                                                               E-Gobrecht #179 

    

 

Global Financial News

What a difference a day makes in terms of equity markets. Global markets are flashing red as optimism is a rare commodity. Upsetting last week's optimism is another batch of negative trade news between the United States and China along with the United States taking trade actions against Argentina, Brazil and the EU. Let's review the relevant Seeking Alpha headlines to gain of sense of heightening trade war developments.

Unfair trade practices and currency devaluations lead the list of issues.

A barrage of trade actions was announced by the Trump administration on Monday, beginning with tariffs on steel and aluminum from Argentina and Brazil due to a "massive devaluation" of those countries' currencies. The U.S. Trade Representative also said it would review hiking tariffs on EU products and adding new ones, because of what it called "lack of progress" in resolving a dispute over aircraft subsidies. After the markets closed, the USTR said it planned to slap punitive duties of up to 100% on $2.4B of French products - like Champagne, handbags and cheese - after concluding that a new French digital services tax (DST) would harm U.S. tech companies.

With other countries placing Digital Service Taxes on large U.S. technology companies, the U.S. Trade Representative is sending a clear signal that the U.S. will not be ambevelant to such actions.

The USTR also threatened that such tariffs could be enacted in the future against Austria, Italy and Turkey, all of which have digital-services taxes. It added that French officials "repeatedly referred to the French DST as the 'GAFA tax,' which stands for Google, Apple, Facebook and Amazon." Before moving forward with the levies, the agency will hold public hearings on the proposed tariffs on Jan. 7 and will accept public comments through at least Jan. 14,.

A China - U.S. trade deal may not happen until after 2020. The negotiations remind me of Mohammad Ali's famous rope a dope tactic against George Foreman in the classic 1974 Rumble in the Jungle fight. China is planning to release its own "entity list" of harmful U.S. corporations consisted with our Dept of Commerce, Bureau of Industry of Security (BIS). Dear readers, the trade war is becoming very serious...

U.S. stock futures are sinking back into the red, now down 0.5%, a day after the DJIA fell 270 points and the S&P 500 posted its worst one-day decline since Oct. 8. "In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right," President Trump told reporters in London. Worsening the mood, The Global Times said China will release an "unreliable entity list" soon - aimed at punishing businesses deemed harmful to Chinese interests - that reportedly includes U.S. entities.

How are commodity prices and the long bond interest fairing?

Trade anxieties are helping move physical gold prices upward to $1475/oz. Crude oil is holding steady at $56.12/bbl and Bitcoin is down a tad to $7279 per coin. The 10 Year U.S. Treasury yield has dropped to 1.8%. If trade war rhetoric continue, I expect the Treasury yield to quickly move back to 1.7+% as investors shift to a risk off investment mode.

 

Wrapping Up The Blog

I'm buried with Black Friday and Cyber Monday shipments which will be today's primary focus.

The Mountain View Collection sales is going extremely well and the consignor should be pleased.

Once shipments stabilize, my attention will shift to loading a host of CAC approved United States gold offerings along with steady progress on incremental consignment posting.

Thank-you for visiting with me at the Blog. See you on Wednesday!

 

 

 

December 2, 2019

Mountian View Collection Sale - San Francisco Struck Liberty Seated Quarters

Greetings and welcome to the Blog on Cyber Monday. Though GFRC has no formal Cyber Monday sale, clients will be treated to a wonderful lot of circulated key and semi-key date Liberty Seated quarters. More on that topic shortly.

Checking in at the Raymond Maine office, winter has taken hold with a morning temperature of 24F and snow in the forecast for the next 48 hours. Contrast that with Venice Florida with a current temperature at the 70 degree mark. A cold front is moving through Florida today with temperatures quickly dropping in the low 40s by evening time.

 

Black Friday Weekend Sales Wrap-up

It was a great sale! A sincere thank-you goes out to all consignors who took the time to set discounted pricing. More thank-you's are in order to the many GFRC customers who took advantage of discounted prices to add new coins to their collections.

GFRC sold 52 discounted coins in a little under 70 hours. My goal had been 10% of the offerings which works out to be 56 coins. Achieving 93% of the sales goals is simply outstanding. I believe that nearly all consignors sold at least one coin during the Black Friday sale. Sales were well distributed across all product lines with coins priced under $250 being the most popular.

Today brings a substantial packing and shipping day as most Black Friday sales will be shipped on a Quick Ship basis. Orders not shipped on Monday will definitely go out on Tuesday.

The next GFRC sales event is the St. Patrick's Day Sale to be held on the March 13-15, 2020 weekend. That sale is just a little over four months away and positioned in the middle of the hot numismatic season.

 

Bill Bugert Publishes Final LSCC E-Gobrecht Edition as Editor

Sunday evening brought the arrival of the December E-Gobrecht as published by the Liberty Seated Collectors Club. Bill Bugert opened the December 2019 issue with an announcement of his retirement as E-Gobrecht editor. After 15 full years of building up the E-Gobrecht publication and 179 monthly issues, Bill is turning over this outstanding monthly club news journal to Paul Kluth.

I will add more commentary in Tuesday's Blog including a headline page image and download link.

 

Mountain View Collection Sale - San Francisco Struck Liberty Seated Quarters

As the saying goes, a rolling stone gathers no moss....

While coordinating the Black Friday Weekend sales event, I was quietly preparing the rollout of a special GFRC consignment. I am absolutely thrilled to be showcasing a wonderful lot of San Francisco struck Liberty Seated quarters from the Mountain View Collection.

GFRC has been selling the bulk of the Mountain View Seated quarter collection for several years. However, this individual just could not part with his San Francisco struck dates until several weeks ago. A email arrived indicating that it was time to part with the balance of his Seated Quarter collection except for the 1855-S. The consignor and I quickly worked out transfer plans with the collection arriving immediately after the Whitman Baltimore show. Given the poor northern New England weather, it was decided to photograph the collection once GFRC had settled into the Venice office and launch the sale immediately after Black Friday weekend. The Mountain View Collection sale is a de facto Cyber Monday event!

During Black Friday weekend, GFRC's staff cataloger, Len Augsburger, prepared individual lot descriptions. It is great to have Len on board handling lot research and description generation. Len provided the below commentary with little else to add from your s truly. Look for the Mountain View Collection Seated quarters to be posted to the price list by early afternoon. There are a host of First Rights of Refusals (FRoRs) which will be sorted out during today's lunch time hour.

GFRC Cataloger Len Augsburger Commentary

It was a pleasure to catalog this group of San Francisco Seated quarters from the Mountain View consignor. A glance at the image gallery will quickly reveal the Mountain View “look” – light or medium toned circulated coins with original wear patterns and minimal surface problems. Most of the San Francisco quarters fall in the key or semi-key classification, and the combination of scarcity and eye appeal in this group is remarkable. Most of these coins have CAC populations of less than 20, and typically come to market only when important collections are broken up. In other words, this is an uncommon opportunity and I expect the coins will move quickly. FRORs are in order, and, to be honest, many of these coins will already be on hold by the time you read this, as the images went live on Sunday afternoon. Given the accessible price points, with most pieces around $1,000 or less, there will no doubt be substantial demand for coins in this consignment. Anyone forming a Seated quarter set up to the VF/XF level will do well to add whatever they can from the Mountain View group. Happy hunting to all.

Mt. View Collection Sale - San Francisco Struck Liberty Seated Quarters

1872-S PCGS VG10 CAC 25C

            1867-S PCGS F15 25C                                                               1871-S PCGS VG10 CAC 25C

    

    1856-S/S PCGS AG03 CAC 25C                         1856-S PCGS F15 CAC 25C                         1857-S PCGS VG08 CAC 25C   

            

    1858-S PCGS F15 CAC 25C                         1859-S PCGS VG10 CAC 25C                      1860-S PCGS VG08 CAC 25C

            

    1861-S PCGS F12 CAC 25C                         1864-S PCGS G06 CAC 25C                         1865-S PCGS VG08 CAC 25C

            

    1866-S PCGS VG10 CAC 25C                         1868-S PCGS F12 CAC 25C                         1869-S PCGS F15 CAC 25C   

            

    1874-S PCGS F12 CAC 25C                         1875-S PCGS F15 CAC 25C                            1878-S PCGS F12 CAC 25C

            

 

Global Financial News

Black Friday sales results, on a national basis, are a clear indication of the prosperity of American citizens and our strong economy. Seeking Alpha's opening headlines indicates that Black Friday online sales grew by a substantial 15% - 20%. Following is that headline.

Online sales rose more than 19.6% to $7.4B on Black Friday, marking the day's largest revenue grab ever, according to Adobe Analytics, which tracks transactions at 80 of the top 100 U.S. retailers. For Thanksgiving, it estimated web sales grew 14.5% to $4.2B, while Small Business Saturday and Super Sunday sales are projected to surpass $7.6B. Keep an eye today on the usual suspects like Amazon, Walmart, Target and eBay, as Cyber Monday spending is expected to hit a record $9.4B, an 18.9% jump from a year ago.

The new trading week opens with global equity markets in an upbeat mood. U.S. stock futures are pointing to more gains and the potential for new records. This Seeking Alpha captures equity market optimism.

U.S. stock index futures are pointing to gains at the start of the week, with DJIA futures ahead by 112 points and the S&P 500 and Nasdaq up 0.4%. Depicting a bright spot in the American economy, consumer spending is basking in the limelight with Thanksgiving weekend shopping estimated near $30B. Twin manufacturing surveys from China also boosted sentiment, with growth picking up to a near three-year high due to recent government stimulus and slow-but-steady trade progress with the U.S.

It is official, the U.S. is a net exporter of oil!

Amid the shale boom and President Trump's drive for American energy independence, the U.S. has posted its first full month as a net exporter of crude oil and petroleum products since government records began in 1949. The nation exported 89K barrels a day more than it imported in September, according to data from the Energy Information Administration. Analysts at Rystad Energy predict the U.S. is only months away from achieving total energy independence, citing surging oil and gas output, and the growth of renewables.

How are commodity prices and the long bond interest rate fairing in light of much positive economic news?

Physical gold prices are holding up at the lower end of the current trading range. Today's quote is $1462/oz. Crude oil prices have dropped slightly to $56.53/bbl. Bitcoin has found some mild optimism with prices increasing to $7337/coin. As expected, the 10 Year U.S. Treasury bond yield has increased to 1.85% as demand is waning in a risk on equity environment.

 

Wrapping Up The Blog

The 8:00 am publishing time has come and gone. Let's end today's edition at this point and move on with Cyber Monday activities.

I'm staring at a huge pile of USPS 2 Day Priority box filled with Black Friday sale purchases. Those will garner morning attention. Look for the posting of the Mountain View San Francisco struck Liberty Seated quarter lot to reach the price list at roughly 2:00 pm EST. Afterwards, I will be emailing individuals with FRoRs for their buy or pass decisions.

Dan White stops by the GFRC Venice office on Tuesday with yet more coins for the price list. I'm also expecting CAC results for about 40 coins submitted after the Whitman Baltimore show. These 40 pieces should arrive on Tuesday or Wednesday.

Please remember that consignments are being solicited for the upcoming Orlando Winter FUN and Spring Whitman Baltimore shows.

 

 

 

December 1, 2019

Decent Saturday Black Friday Sale Results!

Greetings and welcome to yet another edition of the Blog. Thank-you for checking in on a Sunday morning. December 2019 has arrived as we race towards the holiday season.

Venice Florida weather is amazing. Yesterday's temperature peaked in the high 70s with bright sunshine throughout the day. As usual, I spent nearly the whole day in the GFRC office but we did take the evening off to attend the annual Venice Island Christmas parade along with early dinner at the Daiquiri Deck on the Venice Ave strip. The Venice downtown area is blocked off with substantial preparations for an hour long parade that included mostly floats, antique cars, and the local Corvette club. Floats were hosted by local businesses, charitable non profits, and churchs. It was quite the event and very well attended. The major challenge is always getting onto and off the island.

Next weekend brings the annual holiday boat parade on the Intercoastal Waterway. Since migrating to Venice early this year, we are able to attend these seasonal events for the first time.

 

Decent Saturday Black Friday Sale Results

Let's just say that I am very pleased with the Black Friday Weekend sale after two days. Saturday brought a few incremental orders to add to the substantial Friday total. If the sales event can see 10% of the opening offerings finding new homes, that is indeed a great outcome. Another 14 coins must sell today to achieve the 10% mark. Won't you please consider a purchase? Monies spent at the sale return to consignors for holiday shopping or reinvestment in new numismatic purchases. As an incentive, I can hold Black Friday sale purchases for up to two weeks pending payments, but there is no return priviledge.

 

2020 Winter Orlando FUN Show Announcement - January 9-12

The 2020 Winter FUN Show will be a huge event! One look at the bourse map will easily convince any collector that this is the must attend numismatic event of the year. Winter FUN is early this year and takes place on Thursday, January 9 through Sunday, January 12. GFRC will be present from Thurday through Saturday. Please see the next topic.

 

GFRC at Booth 535 - Winter Orlando FUN Show

"Huge event" may not be adequate to describe the 2020 Winter FUN show. Below is a truncated bourse floor map with Booths 535 and 634 highlighted in red. Gerry Fortin Rare Coins and David Perkins, Numismatics will be sharing these double corner booths as done during the 2019 event. We are located in the middle of the bourse but please come visit us first if wishing to view outstanding early silver type coins and United States gold. I recognize how easy it is to become distracted when walking through rows of dealer tables.

The GFRC Booth 535 will be hosted by our wonderful staff. Diane and Rose Marie are so elegant and will glady help you shop through our eight cases of offerings. Dan will be manning the two United States gold cases while Gerry will be at the laptop scanning items, quoting prices, meeting customers, and availabe for buying coins too. The FUN show is also an excellent time for insourcing large and small consignments. We have unlimited space for transporting coins back to the Venice office as compared to flying with hand carry luggage.

GFRC at Booth 535 - Orlando Winter FUN Show

 

GFRC Consignments Wanted!!!

The GFRC consignment window is wide open as I'm processing coins at a much faster pace that just six months ago. December will be an optimum time to divest a large collection prior to the FUN show. I'm also seeking smaller consignments. The FUN show will be an ideal venue for consigning a large collection for debut at the Spring Whitman Baltimore show.

Please email or call if considering a numismatic divestment. I would appreciate the opportunity to discuss the GFRC approach for selling life long collections.

Working with GFRC brings benefits and peace of mind! Rather than consigning a large collection to an auction house and losing control of the sale process, please consider working directly with GFRC. Consignors of major collections are essentially partners in the sale process. We can work together for collection marketing in the Blog and other online portals, consensus price setting, and your special considerations as necessary. Noted auction cataloger and numismatic writer, Len Augsburger, is now the staff GFRC cataloger and will provide detailed assessments of your important numismatic items. GFRC's unique Daily Blog client gallery displays and First Right of Refusal program generate considerable buyer attention.

Please remember this important point! Selling through GFRC means that your cherished collection will be sold to other collectors. The process may take longer than a traditional auction house, but with some patience, there is that satisfaction in knowing that your coins were placed with other collectors rather than being absorbed by dealers for subsequent retail. I can't stress this point enough. From first hand experience, I want my coins to move into other collections, within the GFRC community, rather than being traded among dealers on a bourse floor.

 

Union Bridge Collection Consignment Arrives to Price List

The recent Whitman Baltimore show brought several consignments. One of those was a small but great early silver type coin lot. All three of the following pieces are CAC approved and choice original at their assigned grades. These offerings reached the price list on Saturday afternoon. Already the 1843 Seated dollars is on hold.

Union Bridge Collection Consignment - CAC Approved Early Type

1843 PCGS EF40 CAC $1 - On Hold

1807 50/20 O-112 PCGS VF35 CAC 50C                                              1810 O-102 PCGS AU53 CAC 50C

    

 

Wrapping Up The Blog

It should be obvious as to my whereabouts today. Yes, I will be in the GFRC office responding to the last of the Black Friday Weekend Sale orders along with preparing the Mt. View Liberty Seated Quarter - San Francisco Strikes images for a Blog debut tomorrow morning and price list arrival on Tuesday.

Cyber Monday brings a substantial shipping day as the primary task.

Again, thanks for checking in at the Blog. I'm always available via phone call or email to discuss your numismatic questions and collecting needs. See you tomorrow morning at the Blog.

 

 

 

November 30, 2019

Strong GFRC Black Friday Sale Results!

Greetings and welcome to the Blog on the final day of November 2019. November has been quite the busy month but all is well as we move towards the 2019 holiday season.

Today's ramblings will be mostly short segments as the last 24 hours have been consumed with the Black Friday sale. Discussing Venice Florida weather is probably unwise for two reasons. First, it changes little from day to day. Second, is the warm temperatures and sunny environment as compared to the balance of the country during winter months. It is best to not remind others about the pleasant living conditions here.

 

Strong GFRC Black Friday Sale Results!

I went into the Black Friday sale with high expectations. When loading consignor discounting instructions, it became apparent that there were numerous compelling discounts and values throughout the product lines. Would the GFRC community take advantage of these opportunities? I'm pleased to report that the answer is yes after Friday's sale results. Selling 41 coins in a single day is probably a GFRC sales record for the three time per year sales events.

Turning over inventory is critical for coin dealers. Being grounded in human psychology is important for operating a successful coin business. Collectors are constantly on the hunt as a fundamental guiding principal. Placing fresh inventory online is critical towards maintaining daily visits and description readership. Of course, the inventory profile must be consistent with what the customer base wishes to purchase. If I stray too far away from the regular price range and product mix, the existing customers will become bored and move on to other sources. The current posting of higher priced new offerings is an example of taking a risk as product lines are expanded in the vertical and horizontal directions. Come next week, I will be back to posting bread and butter Liberty Seated, U.S. gold, and Capped Bust offerings.

The Black Friday sale is an opportunity to clear out aged inventory and replace with fresh new offerings. So far, so good. Let's hope that Saturday and Sunday sales continue at a reasonable level. After conducting many GFRC sales events, I've come to recognize a buying pattern across the Friday through Sunday timeframe.

- Friday is the best day of the sale and dictates whether the sales event will be strong or mediocre.

- Saturday is the slowest day of the sale and I've yet to determine why. Is it that Friday's buying enthusiasm is waning on Saturday with the best "bargains" being already scooped up?

- Sunday is the second best day of the sale. I'm assuming that customers recognize the sale's impending closure and return for a final round of bargain hunting.

 

2020 Winter FUN Show Table Announcement - Tables 535, 634

Friday brought a comprehensive FUN show dealer package from Cindy Wibker. Cindy does a fantastic job managing the Winter and Summer FUN shows. As a dealer, I am 100% committed to both shows and always do well.

The 2020 Winter FUN show will be another huge event. The bourse floor map is enormous and it took time to locate the GFRC and David Perkins, Numismatics double corner table locations. I'm pleased to announce that the Fortin and Perkins duo will be located at Tables 535 and 634. Our location is in the middle of the bourse and similar to the 2019 positioning. The regular GFRC staff of Gerry, Diane, Dan and Rose Marie will be manning the Gerry Fortin Rare Coins corner table.

I'll showcase the 2020 FUN show bourse floor map in Sunday's Blog and point out our location.

 

Great GFRC Offerings Just Keep Arriving!

Operating the GFRC business from Florida brought a substantial productivity improvement. Gone is the need to regularly haul wood from the garage to the wood box and subsequent loading of the Vermont Casting stove. Of course, ongoing sunshine shortens the time necessary to accomplish photography requirements. Then there is the Venice office proximity to the post office outlet and Publix food and liquor mart. Rather than driving seven miles into Raymond and Windham, it takes just a few minutes to accomplish errands. Sadly, the last significant productivity improvement is the loss of the Focal/Naim basement sound system. Without that "distraction", I'm spending more time in the office and working until about 10:00 pm each evening after a long post dinner health walk.

Even with a busy Black Friday Weekend sales event, there has been time to continue image processing and the posting of more new GFRC offerings. Below are four more offerings that reached the price list last evening. All recent price list postings have also been uploaded to Collectors Corner for additional visibility. Life is good....

Great GFRC Offerings Just Keep Arriving!

                1911-S PCGS MS66 10C                                                     1839 No Drapery PCGS VF30 CAC 50C

    

1911-S PCGS AU58 50C                                                               1940-S PCGS MS66+ 50C

    

 

Mt. View's Liberty Seated Quarter - San Francisco Dates Arrive on Tuesday

As mentioned earlier in today's Blog, I need to get back to core GFRC offerings after posting a host of higher priced Mint State coins. I could not think of a better approach to get back to basics than posting a CAC approved set of circulated San Francisco Liberty Seated quarters.

GFRC has been selling pieces from the Mt. View Seated quarter collection for several years. This consignor has a long term divestment horizon and held back his cherished CAC approved San Francisco struck quarters. That was until the beginning of November when an email arrived indicating the time had arrived to sell all the remaining pieces except the 1855-S quarter. The lot was quickly shipped to Maine and immediately loaded into the COIN system along with finalized asking price concensus with the Mt. View owner. Upon arriving to Florida, this Seated quarter group was photographed. I've signed up Len Augsburger for writing the descriptions. All that is left is image processing towards a special Mt. View client gallery display in the Blog.

If all goes to plan, I will be processing images on Sunday with a Blog debut targeted for Tuesday. There are a few First Rights of Refusal that arrived when first announcing the collection's consignment in the Blog. Those email records are on hand and will be honored. Please keep visiting the Blog for the latest updates.

 

Where Are The U.S. Gold New Purchases?

Great question!

I'm expecting a CAC submission return shipment on Tuesday of the coming week. In that shipment will be twenty pieces of Osprey U.S. gold new purchases. There are another twenty or so Whitman Baltimore newly purchased gold pieces currently lounging in the image processing queue. Most are CAC approved. Once the Mt. View Collection consignment posts to the price list, my full attention will be brought to a substantial offering of new U.S. gold later this coming week.

 

Wrapping Up The Blog

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

Yes, I will be in the GFRC office the entire day working on morning Quick Ships followed by image processing during the afternoon and evening hours. Please, please interrupt me with some Black Friday Weekend sale purchases!

Thank-you for visiting on a Saturday morning. Now don't be too tired with all that holiday shopping....

 

 

 

November 29, 2019

Black Friday Weekend Sale!

and

A Constant Flow of GFRC New Offerings

Greetings and welcome to the Blog on a Friday morning. The GFRC Black Friday sale is underway.

Today's Blog will be brief as Black Friday sales orders need my attention along with an immediate price list update. There were some compelling bargains in this sale and already I'm receiving double orders. It is best to get purchased coins marked as being on Hold quickly.

The Black Friday sale opened at midnight EST with 574 offered coins. I awoke to find 21 pieces already being selected with several double orders. This is an excellent start to the sale with more orders expected throughout the day.

 

A Constant Flow of Great GFRC Offerings

As mentioned in recent Blog editions, I've promised to operate the Black Friday sale while still loading a host of great new purchases and consignments. Since being in Florida for Thanksgiving, there was no traditional early afternoon meal at my sister's Maine home. Instead, Diane cooked a great lunch time holiday meal followed by an afternoon of photography and image processing.

The following galleries present yet another batch of exciting new offerings for your consideration. My apology here as none of these new offerings are bargain priced. They were carefully selected during Whitman Baltimore pre-show buying with GFRC paying fair prices. Top quality coins are not inexpensive at the wholesale or retail level. Let's remember that top quality coins are the easiest to sell when divestment time arrives.

The first gallery features two Mint State Liberty Seated pieces; an 1857 Seated quarters with deep rose patina and a fully strucked key date 1852 Seated half. I could not pass up three eye appealing Early Commemoratives during a buying session. The toning on the Isabella, Illinois and Boone commems is quite attractive. Look for this lot to reach the price list this afternoon.

A Constant Flow of Great GFRC Offerings

        1857 NGC MS63 25C                                                                1852 WB-2 PCGS MS62 50C

    

1893 Isabella NGC MS63 CAC Fatty 25C               1918 Illinois NGC MS65 50C                1934 Boone NGC MS66 CAC Fatty 50C

            

 

I'm sure that many Blog readers are surprised to see a lot of Registry Set quality Washington Quarters as a new GFRC offering. All are consistently graded PCGS MS67+ with CAC approval. I simply could not pass up this lot as a foundation for expanding presence in the high end Mint State Washington quarter market. Every piece has beautiful toning and unabraded surfaces. GFRC imaging is limited to portraying colors but not the luster that is mandatory at the MS67+ grade level. Look for these pieces to reach the price list by end of day.

Nifty PCGS MS67+ CAC Washington Quarter Lot - Registry Set Quality

1935 PCGS MS67+ CAC 25C

1945-D PCGS MS67+ CAC 25C                                                    1945-S PCGS MS67+ CAC 25C

    

1953 PCGS MS67+ CAC 25C                                                     1954-S PCGS MS67+ CAC 25C

    

 

Global Financial News

Friday brings a short trading day as markets will close at noon time. Seeking Alpha published their daily newsletter with a few headlines worth sharing. But first let's have a look at commodity prices and the long bond interest rate.

Bitcoin appears to have found buyers and is rebounding a bit. The current quote is $7581/coin. Physical gold prices remain in a very tight trading range; today's quote is $1463/oz. Crude oil is quote a few cents below the $58/bbl mark. Finally, the 10 Year U.S. Treasury bond yield is hovering at 1.76%.

Today's top news item is President Trump's signature of a bipartisan bill supporting Hong Kong's democracy protests. As one can imagine, the Beijing Central Government is not pleased with this action and is threatening counter measures. We may not see a Phase 1 trade deal in the near term which does not surprise me. The current U.S. - Sino trade war is a long game to weaken China's economy by creating instability for overseas companies to do business in the mainland. For years, U.S. companies have traded away intellectual properties to gain access to the massive China market. Trump's trade chaos is having an impact with companies moving their supply chains out of China.

While it's not a Thanksgiving hangover, Wall Street futures are pointing to declines of 0.2% ahead of a half-day trading session. Sentiment that propelled stocks to several rounds of record highs is under pressure from a human rights dispute in Hong Kong that could upend progress in Sino-U.S. trade talks. President Trump has signed into law Congressional legislation supporting the city's anti-government protesters, prompting Beijing to say it would take "firm counter measures" and attempts to interfere were doomed to fail.

Now I can understand the reason for Brexit after reading this headline. Christine Lagarde (a leading globalist) wishes to make climate change a part of the European Central Bank's agenda. Large institutions continue to attempt power grabs away from national governments.

Calling it a "mission critical priority," Christine Lagarde is pushing for climate change to be part of the ECB's purpose, in the first comprehensive review of the bank since 2003. Pushback? Some eurozone central bankers argue that climate action should be left to the EU's national governments to handle through fiscal policy, not monetary policy. Earlier this month, the San Francisco Fed convened the U.S. central bank's first-ever conference on the "Economics of Climate Change" and discussed the concept of a "green interest rate."

 

Wrapping Up The Blog

There is no question that I will be working in the GFRC office the entire day considering the Black Friday sale and a host of new offerings to post to the price list. Regular orders along with Black Friday sale orders are most welcomed. GFRC is in need of some inventory rotation and hoping this weekend's sale will bring that about.

Please check back tomorrow for another important announcement; the sale of San Francisco dates within the Mountain View Liberty Seated Quarters collection is featured in the GFRC Open Set Registry. That collection can be viewed by clicking here. Already, GFRC staff description writer, Len Augsburger, is on the job.

Thank-you for stopping by at the Blog on Black Friday and good luck with your holiday shopping. See you tomorrow!

 

 

 

November 28, 2019

Happy Thanksgiving From GFRC!

and

GFRC Black Friday Weekend Sales Event is Ready

Greetings and welcome to the Blog on Thanksgiving Day 2019.

I must admit that writing a Thanksgiving Day blog from Florida feels a bit odd. Tradition always brought the remaining Fortin family to my sister's home in Maine. With my father passing away last year and mother two years earlier, that tradition has come to an end. As a result, Diane and I felt unencumbered to shift residence to Florida before the Thanksgiving holiday. This is life with changes being inevitable.

There is much to be thankful for on Thanksgiving Day. Foremost is health followed by a succesful family. Matt, Chikae and Natsumi are exploring the world with their multicultural lifestyle. Renee, Mike and Ivy have settled down in Austin, purchased a new home, and are living the American dream. Gerry is free to continue innovating in a hobby industry replete with great people and friends. And then there is Diane, the family matriarch, who watches over everyone and lends a helping hand.

Indeed, families are the nucleus of society. There is much to be thankful for today at the Fortin's southern home.

 

GFRC Black Friday Weekend Sales Event is Ready

I'm pleased to report that the GFRC Black Friday Weekend Sale event is ready to launch at midnight. There are approximately 570 lots available at discounts ranging from 8% to 50% off.

The Black Friday sale is an important opportunity for both customers and GFRC. It is well known that GFRC does little if any wholesale trade with other dealers. Given this fact, my outlet for aged inventory is the GFRC customer base. Why not reward loyal GFRC customers with great values several times per year? Regardless of all the pricing guides and grading services, the numismatic hobby is still a highly subjective retail environment. Some coins are immediately scooped up by collectors while others will sit in inventory for several years due to a host of reasons. Lack of demand, incorrect pricing, and/or insufficient eye appeal are typical reasons for a coin languishing in GFRC inventory. The GFRC sales events are an opportunity to readjust pricing points towards locating the appropriate buyers.

Wednesday brought a full day of loading consignor discounting instructions into the COIN system followed by debugging the sale offerings. The COIN database has become massive with nearly 13,000 entries. COIN drives the Sale Lists, the Sales Archive, CAC Price Research and Gallery applications on an ongoing basis. The three time per year GFRC Sales Events are also driven by the COIN system. This database is constantly being edited with accuracy being absolutely paramount.

In summary, the 2019 Black Friday Weekend Sale is ready with some great values for those who take the time to search through the many product lines and individually discounted lots. There is more U.S. gold in this sale than in prior events.

 

Black Friday Weekend Sale Instructions

Accessing the Black Friday Weekend Sale price list is as simple as clicking on the black banner at the top of each GFRC price list page or the Daily Blog page. Once the countdown clock reaches midnight ET, a separate price list will be available for download and shopping. Many of you have participated in a GFRC sales event and are old pros with navigating the special price list and its format. For those who are relatively new to the GFRC website and its sales operations, following are detailed usage instructions.

Accessing the Black Friday Weekend Sale List

- Click on the Black Friday Sale white lettering on the black banner and wait for the price list to download. Please have patience when first downloading the Black Friday Sale price list. The entire list and all coin images are downloaded at one time. Download time is much improved for this sale and should be less than 5 seconds. Of course, the download time is variable based on internet service provider and your access device bandwidth. With local Comcast ISP, the GFRC download took under 5 seconds.

- Once in the price list, click on the product tabs to access individual price lists. DO NOT USE THE BACK BUTTON as this will take you outside the sale list and will require another download. When clicking on an icon image for high resolution photographs, these will open as a seperate session in your browser. Once done viewing the high resolution image, please close that session. This will place you back in the sale price list.

All GFRC Consignors Notified of Black Friday Weekend Sale Participation

To ensure that no consignor has been left out of the sale, I've sent a confirmation email to each consignor indicating that their price reductions are loaded. If not receiving a confirmation email by end of day Wednesday, discounting instructions have not be loaded. If this is the case, then no problem, there is still an opportunity on Thanksgiving Day to capture last minute reductions and GFRC loading oversights. Please contact me immediately to ensure that your reductions are properly captured. There will be no additions to the sale list after 6:00 pm ET today.

When Does the Black Friday Weekend Sale Go Live?

The Black Friday Weekend Sale price list link will appear automatically at 12:00 PM ET (9:00 PM PT). The link is located at the top of each GFRC website page where the countdown clock is currently marking the time remaining. The sale will continue through Sunday 9:00PM ET (6:00 PM PT).

How Do I Purchase Lots?

Purchasing lots via the Black Friday Weekend Sale price list is no different than making a normal GFRC purchase. Customers can click on the shopping cart to launch a purchase email. Otherwise, simply send me an email and list the desired lots (denomination, date, mintmark and price). All emails will be processed in the order received to determine sale lot allocations. Phone calls are welcomed starting at 8:00 am on Friday, Saturday and Sunday mornings. Starting Friday morning, I will be contacting buyers with purchase invoices and immediately preparing shipments. The GFRC Quick Ship program will be used extensively for customers that are well known to me.

Will Lay-A-Ways Be Available for Black Friday Weekend Sale Items?

Unfortunately no....the Black Friday Weekend Sale is a cash and carry event. Regular GFRC payment terms will apply. Paypal usage will require a 3% adder to the combined purchase and shipping cost total with no exceptions. Credit cards usage is also possible with same 3% adder. For customers who wish to make a larger number of purchases and require 30 day terms, I'm sure we can work out a payment approach. My only requirement is that Black Friday Sale lots be completely paid for by the end of 2019. Orders requiring 30 day terms will not be eligible for Quick Ship.

When Will Black Friday Weekend Sale Lots Ship?

Orders paid via Paypal, and those from well known customers on the Quick Ship program, will see their orders shipped on Monday and Tuesday. For newer customers paying via check, those orders will ship once checks arrive to the Venice Florida office.

 

GFRC New Offering Rollout Continues....

I worked late last evening towards preparing more great new offerings. The GFRC backlog of new purchase and consignments is enormous and will be streaming to the price list through mid December.

The following four pieces are worthy of serious consideration. All are JUST BUY IT NOW candidates with the 1805/4 PCGS F15 CAC 50c having a FRoR pending price announcement. Each offering has its special attributes. The 1894-O Barber 25c is perfectly original with CAC approval. The 1805/4 half brings that desirable circulated cameo appearance along with CAC approval. The 1912-S PCGS MS64 Barber half is a creamy gem with huge luster. The 1885-S PCGS MS65 Morgan offers some incredible colors along with brilliant luster than is not captured within the GFRC images. All four peices will delight the new owners as proud GFRC aquisitions.

Look for these offerings to reach the price list today.

More Noteworthy Whitman Baltimore Acquisitions

  1894-O PCGS AU55 CAC 25C                                                        1805/4 PCGS F15 CAC 50C

    

   1912-S PCGS MS64 50C                                                                  1885-S PCGS MS65 $1

    

 

Wrapping Up The Blog

So ends the Thanksgiving Day Blog edition.

A sincere thank-you goes out to huge GFRC customer and consignor community for making 2019 a fantastic sales year.

I will be in and out of the office today but always checking emails or text messages on the cellphone concerning potential Black Friday Sales omissions.

Have fun at midnight when the Black Friday sale goes live.

 

 

 

November 27, 2019

Substantial Daily Blog Gallery Offerings!

Greetings and welcome to the Blog on the day before Thanksgiving. A sincere thank-you goes out to the GFRC community that visits on a daily basis.

The early Florida migration decision was most prudent given the terrible weather facing much of the nation today. My sympathies go out to customers who find themselves on the road or at crowded airports, especially with travel delays. The several hours of bumper to bumper traffic experienced in the Washington DC - northern Virginia I-95 corridor is minor as compared to canceled flights or long travel delays. Even worst is driving long distances on snowy or icy roadways.

Actually, I'm most pleased to be back in Florida. Yes, the Focal/Naim sound system is missed and I must take some corrective action for the Venice Florida office. There are many positives about living in Venice. Foremost is exercising. During the last two weeks in Maine and at the Whitman Baltimore coin show, conditions did not facilitate health walks. Now that I'm in Venice, each evening brings a long walk with weighs to maintain stamina, control weight, and add to upper body strength. Last evening's jaunt was ideal with a temperature in the low 60s. Finally, there is constant sunshine. I can effortlessly stroll out of the lanai and take images on demand. Life is good and we are grateful for a decision made nine years ago to purchase a Venice condo during the bottom of the housing market crash.

 

Seth Godin's Blog: A chance for better

Seth Godin is one of my daily reads. Recent blogposts have been lengthy towards making a point. These are difficult to share. Monday brought a gem post that is profound and uplifting. Who would have thought of a simple sentence, Perfect is the enemy of good other than Seth Godin to make a point? Perfection implies no opportunities for improvement. Have you ever met perfect people? I've met a few in the business world (and the numismatic hobby) who's egos were massive and blinded by their inability to comprehend weaknesses. Looking back in time, I feel sorry for these individuals as they lacked self awareness and a mindset for continuous improvement.

I've made my share of mistakes in life and during the construction of the GFRC business. Recognizing our imperfections quickly and bringing about improvements is paramount for personal growth. Without a lifetime of mistakes and improved self awareness, a false air of self worth leads to a judgemental nature that is synonymous with today's social media. Indeed, recognizing self imperfections is an opportunity for self improvement.

A chance for better

Perfect is the enemy of good.

Of course it is.

But that simple sentence becomes more urgent when we realize that nothing (and no one) is perfect. How could it be?

And so, if your hero, your cause, your holiday, your background, your relationship… if it’s not perfect, does that mean you should hide it? Be ashamed of it? Be afraid of it?

We’re surrounded by injustice, and yesterday was even worse. It’s so easy to find things that are imperfect and criticize them or worse, shame them.

Better, I think, to find glimmers of good and seek to amplify them. Mistakes can be seen, errors can be improved upon, progress can be made. But only if we embrace the chance for good.

The imperfect is an opportunity for better.

 

Black Friday Weekend Sale Arrives at Thankgiving Midnight

GFRC's special sales are an opportunity for consignors to discount their offerings by a minimum of 8% to participate in each of the three annual sales events. This week brings the traditional Black Friday Weekend sale with the other two events being St. Patrick's Day Sale and Christmas in August Sale. Consignors are free to discount as much as they wish but 8% is the minimum threshold for having coins listed within the Black Friday Weekend sale price list.

The Black Friday Weekend Sale banner can be found at the top of the GFRC For Sale price list page and the Daily Blog. The banner features a countdown clock to remind everyone as to when the sale starts. Once the clock reaches 0:00, the banner becomes a link to a special price list that is entirely separate from regular GFRC price lists. Clicking on the link initiates the download of the Black Friday Weekend Sale price list with tabs for individual product lines. Customers can scroll the various tabs searching for that special coin that is now bargain priced. Shopping cart icons will be enabled and available for triggering an email towards purchases.

The Black Friday Weekend Sale starts on November 28 midnight and ends on Sunday December 1 at 9:00 pm. Each sale typically has 500+ coins being offered at various discounted prices. Once the sale closes on December 1, the special banner and link disappear with unsold coins being available at regular offer prices prior to the sale.

GFRC sales events are cash and carry with no lay-a-way provisions. If purchasing multiple coins and needing 30 days to pay off the entire purchased lot, I'm sure mutually agreeable terms can be worked out.

Today's attention shifts from processing Whitman Baltimore new purchases towards loading the COIN database with sale discounting instructions. Yesterday brought a substantial amount of discounting instructions prior to the noon deadline. Consignors will receive a Black Friday Weekend Sale participation email as confirmation once discounting instruction have been loaded into the COIN system. If not hearing back from me by 9:00 pm EST today, please don't be bashful for checking in on your discounting status.

In Thursday's Blog, I will share detailed instructions for shopping the Black Friday Weekend Sale.

 

Substantial Daily Blog Galleries and New GFRC Offerings!

Tuesday brought more GFRC photography and image processing during daytime hours followed by price list updates in the evening. I'm quite proud of GFRC business growth and expansion into higher priced offerings. The below galleries contain some awesome coins for your consideration. The 1846 PCGS EF40 CAC Seated dime opens the display along with a perfectly original 1861 CSA (Scott) Restrike. Please note the bold residual obverse details on the Scott Restrike as most will come with flattened obverse devices. The 1846 dime is already on hold, as expected. How about a pair of rare Liberty Seated half dollar varieties; 1873 No Arrows Open 3 PCGS VF20 and one of the finest known 1877/6 half graded PCGS MS64 with CAC approval?

Noteworthy Liberty Seated Dates and Varieties for Advanced Collectors

                  1846 PCGS EF40 CAC 10C                                               1861 CSA (Scott) Restrike PCGS MS63 50C

    

    1873 No Arrows Open 3 PCGS VF20 50C                                         1877/6 Overdate PCGS MS64 CAC 50C

    

 

If the opening four coin gallery was not enough, please consider the following three CAC approved early halves. Each piece was hand selected for its perfect originality and eye appeal. As demand for top tier CAC approved coins expands, coin of this caliber will be scooped up and placed into long term collections. I particular like the 1814 O-104 Capped Bust half at the popular AU58 grade level.

Perfectly Original CAC Approved Early Halves

1795 O-110 PCGS F15 CAC 50C

        1801 O-102 PCGS VF20 CAC 50C                                                  1814 O-104a PCGS AU58 CAC 50C

    

 

Yes, it is true! GFRC is expanding product lines with a strong emphasis on Barber coinage and now, Buffalo nickels. The following two image galleries should drive home this point. The 1925-S NGC MS65+ CAC Buffalo is short of amazing for the grade level. GFRC images have accurately captured the beautiful copper toning and underlying satiny luster. Though the 1913-S and 1917-D branch mint issues lacked CAC approval, these MS66 beauties are worthy of advanced registry sets and will be priced accordingly. Not every coin can be CAC approved as the air can become quite thin at the highest grade levels.

Amazing Branch Mint Buffalo Nickels for Registry Sets

1925-S NGC MS65+ CAC 5C

1913-S Type 1 PCGS MS66 5C                                                           1917-D PCGS MS66 5C

    

 

GFRC Continues to Ramp Quality Barber Quarter Inventory!

  1897-O PCGS VF20 CAC 25C                         1909-D PCGS MS65 CAC 25C                      1916-D PCGS MS65 CAC 25C

            

 

Global Financial News

World equity markets are mixed to start the last trading day before Thanksgiving holiday (in the United States). The Santa Claus rally appears to be firmly in place for U.S. markets are the economy continues to expand at a moderate pace. Today's opening Seeking Alpha headlines well captures the current trading environment.

The Santa rally appears to be coming early this year as traders look set to push Wall Street further into record high territory today before taking off for Thanksgiving. The bullish trend has been underpinned by recent trade optimism, leading the DJIA on Tuesday to score its 100th record close under President Trump, while weak figures from China (see below) suggest the world's second-largest economy may seek to hasten a "Phase One" deal. Due to the holiday-shortened week, a U.S. data feast will also be served during the session, including durable goods for October, a second reading of Q3 GDP and the Fed's Beige Book.

Looking at our usual commodities and the long bond interest rate; spot gold contiues to hold steady at $1467/oz. Crude oil is at the upper end of its trading range and quoting $58.84/bbl. Bitcoin continues its retreat and is priced at $6897/coin. Finally, the 10 Year U.S. Treasury bond yield is a flat 1.75%.

 

Wrapping Up The Blog

Obviously, I will be in the GFRC office the entire day loading Black Friday Weekend sale instructions into the COIN system along with adding more new purchases to the price list.

November has been a strong sales month. December brings the final month of the fiscal year and an opportunity to set a new GFRC revenue record and number of coins sold. I suspect that the Black Friday sale will raise the year to date number of coins sold total to that of 2018. The entire month of December will be an opportunity to expand GFRC sales and I'm prepared with boxes of new purchases and consignments.

Thank-you for visiting with me today! Please drive carefully if traveling given less than ideal weather conditions for many parts of the continental United States.

 

 

 

November 26, 2019

New GFRC Offerings Reaching Price List!

and

Noon Deadline for Black Friday Discounting Submissions

Greetings on a Tuesday and welcome to a Florida based version of the Blog.

Another day in the offfice starts early. Current Venice temperature is a warm 55F with a daytime high projected at 77 degrees. The early morning forecast calls for a partly cloudy day. I'd like to explore that topic and share some observations. A partly cloudy forecast in Florida is different than a similar forecast in Maine. In Maine, we typically experience larger puffy clouds that pass by and completely block the sun. Contrast that with west coast Florida where hazy semi-transparent cloudy conditions are common place. That was the case on Monday in Venice. The sun is much higher in the sky and stronger than in Maine. Even with some hazy clouds, quality GFRC photography was possible. Results are displayed in today Blog.

 

PCGS Launches Exclusive CAC Set Registry Program

Are we surprised? On Monday, PCGS announced an exclusive CAC set registry program. PCGS and CAC have become business partners and are sharing their certification number databases. With access to the CAC database and serial numbers of approved coins, PCGS can easily launch a massive number of new registry sets for CAC approved coins.

I hope that Blog readers sit back for a moment and consider the potential implications of this announcement. The PCGS Set Registry is a powerful force and competitive tool for the numismatic industry and our hobby. Do we remember the impact of Everyman Sets on the demand for AU58 graded coins? How about Lowball sets and the price premiums for coins graded PO01 and FA02?

History will repeat itself for CAC approved coins. I see an increased demand for CAC coins at elevated premiums as collectors become more sophisticated with their buying habits. The present tiered market place will become even more delineated as a result of this announcement. The impact to United States gold pricing could be substantial along with low population early silver type coins.

Personally, I feel vindicated as the first individual to see the future potential of CAC approval and launching CAC only sets in the GFRC Open Set Registry. GFRC is a small entity in the numismatic market but continues to offer ground breaking concepts.

 

GFRC Black Friday Sale Instructions - Tuesday Noon Deadline for Discounting Inputs

A friendly reminder that all Black Friday sale discounting instructions must be submitted by noon today. Later this afternoon, I will start the process of loading discounting instructions into the COIN system. Once a consignor's instructions are loaded, a confirmation email will be issued. If you are a GFRC consignor and plan to participate in the Black Friday sale, please take the time to issue your guidance this morning. Please remember that a minimal 8% discount is required for coins to be listed in the sale. Higher discounts are warranted for aging coins that have been on the price list for several years.

A sincere thank-you goes out to everyone who followed my request for issuing email instructions with a special title line (Black Friday Sales Instructions). This simple action will speed up the sale programming effort and provide more time for posting a host of Whitman Baltimore new purchases. We truly are a special numismatic community and so pleased to be the facilitator.

 

New GFRC Offerings Reaching Price List

As promised, much of Monday was spent photographing and conducting image processing for Whitman Baltimore new purchases and consignments. The following gallery displays a solid group of new offerings for your consideration. Many have reached the price list and are selling quickly. I make a point of pricing coins fairly with reasonable margins. "Moon Money" pricing will not be found at GFRC. Rather, I have a keen sense of quality and competitive pricing levels. As GFRC sales continue to ramp, the Sales Archive becomes an important witness and catalog for premium coin pricing levels. If you've not visited the GFRC Sales Archive, I would suggest that you review this application and start using the price results information during buying decisions. At GFRC, there is total transparency!

Whitman Baltimore New Purchases and Consignments

1912 PCGS PR67+ CAC 5C

         1862 PCGS PR66+ CAC 1C                                                        1892 PCGS PR65RD CAM CAC 1C

    

       1833 LM-1 PCGS MS66 5C                                                          1850 PCGS MS66 CAC 5C     

    

   1842-O F-106 PCGS AU58 10C                                                   1874-S F-102a PCGS MS66+ 10C

    

      1916-S PCGS MS66 CAC 10C                                                   1854 Arrows PCGS MS64 CAC 25C

    

            1846 PCGS F12 CAC 10C                         1853 NA PCGS AU58 CAC 10C                 1853-O F-104a PCGS VF35 CAC 10C

            

      1859 F-106 PCGS MS66 10C                         1861-S F-102 NGC AU50 10C                    1866 F-102b PCGS MS63 CAC 10C

            

 

Global Financial News

World-wide equity market futures are mixed as we continue along a shortened trading week. Commodity prices and the long bond interest rate also saw limited movement during the past 24 hours.

Crude oil is quoting at $58.24/bbl while spot gold pricing is flat at $1458/oz. The Bitcoin breakdown has stopped for the time being; current quote is $7177/coin. The 10 Year U.S. Treasury yield has moved down to 1.75% and remains in a tight range.

Seeking Alpha headlines are minimal with only one worth sharing. I agree with Jerome Powell that the United States economy and supporting monetary policies are well positioned for continued economic expansion during 2020. Previous business media reporting of a pending recession may have been hot air.

Powell sees 'glass more than half full'

"Monetary policy is now well positioned to support a strong labor market and return inflation decisively to the Fed's 2% target," Fed Chair Jerome Powell said Monday evening at the Greater Providence Chamber of Commerce. "At this point in the long expansion, I see the glass as much more than half full. With the right policies, we can fill it further, building on the gains so far and spreading the benefits more broadly to all Americans."

 

Wrapping Up The Blog

The next 48 hours brings a personal challenge; multiplexing between Black Friday sale preparations and while adding more Whitman Baltimore new purchases and consignments to the price list. My goal is for a huge sales event by end of week where customers have options to purchase discounted coin along with top quality new offerings.

Please check the Blog this evening for another new offerings gallery. There is a huge amount of great new coins to process that will extend well into next week. My advice is to check the Blog several times per day for the latest postings.

Of course, I will be in the Venice office the entire day given a substantial workload. Emails and phone calls are the best method for contact on purchasing questions or outright orders.

Thank-you for checking in at the Blog.

 

 

 

November 25, 2019

GFRC Venice Florida Office Open For Business

and

Black Friday Sale Plus New Purchases Rollout

Greetings from Venice Florida and the relocated GFRC office. How sweet it is to be back in a T-shirt, shorts and bare feet as office attire!

A Venice day starts with a morning temperature of 54F. Today's daytime high will be 72 degrees as the low point for the week. Highs will reach 83F on Thanksgiving Day and Black Friday.

 

A Few Comments from the Road

When driving for two solid days along the I-95 eastern route from Maine to Florida, there are always a few "memorable" moments. The first "memory" came 30 minutes into the drive. We had just reached I-95 in Maine. I was mentally going through the packing as something did not feel right. I'm sure that many readers have experienced that feeling of something important being left behind when departing for a long trip. In my case, the trip is five months! The realization set in that I failed to pack a cutout board used during coin photography. The plastic board was sitting on the photography table that gets hauled in and out of the garage on sunny days. There was no choice; I had to turn back and retrieve this key piece of equipment. Already, an extra hour of driving time was added to the first day.

Saturday's drive was pleasant until reaching Baltimore. Diane was knitting for most of the trip and occasionally would drop a needle under the front seat. There were the usual millennials texting at the wheel and drivers who believe they owned the passing lane regardless of their slow speed. Once passing through Baltimore, the weather changed to rain and the traffic slowed to a crawl. The Baltimore to Northern Virginia I-95 corridor simply rots. I could use more colorful words but not necessary. Blog readers who have traveled that I-95 segment well understand the bumper to bumper traffic. When we finally crossed into Virginia, I was praying the Express lane would be open for southbound I-95 traffic. Nope! At 6:00 pm, the Express lane was open for traffic heading north to Washington DC for the convenience of politician and government workers. The rest of the population gets to deal with more bumper to bumper driving until reaching Dumfries Virginia. Total time in bumper to bumper traffic was about three hours prior to our overnight stop in southern Virginia.

Sunday brought an early start to the day. The Hampton Inn breakfast was the best ever followed by 7:00 am departure. There is always a sense of relief when exiting Virginia and crossing into North Carolina. Immediately, my travel speed increases by 5 mph as the fear of a meeting with a Virginia state trooper is alleviated. Transport through North Carolina and most of South Carolina was peaceful with light traffic. The usual congestion appeared in South Carolina after I-26. My second sense of relief, after leaving Virginia, is leaving the crappy two lane South Carolina highway. The is a mental transformation from the 1920s to modern society when crossing into Georgia.

We arrived to our Florida home about 6:30 pm and immediately ordered authentic Chinese take-out. Other than a hearty breakfast, food intake on Saturday and Sunday was limited to protein bars and water. The Fortin's were on a driving mission; moving from Maine to Florida as quickly as possble and immediately restarting our Venice home and the GFRC southern office.

I take pride in how quickly the Florida office came online on Sunday evening. Inventory is loaded into the gun ammo safe and electronics are operating smoothly. Comcast internet restarted without issues. All photography equipment is present including a charged camera battery. Let's hope the day brings on anticipated sunshine for a ton of Baltimore new purchases and recent consignments!.

While traveling, I managed to do a deal for a circulated Barber quarter set including an 1901-S graded PCGS VG08. How that's for not missing an opportunity while relocating the office?

 

Get Ready for Awesome New Purchases Rollout!

Sunday evening's sleep was a coin show dream state. Maybe it was the relief from two days of driving that leaves you mentally fatigued. The anticipation for launching the Venice GFRC office and photographing two double row boxes of new offerings was substantial and permeated my dreams as being at a coin show. By 5:00 am, it was best to start the day and write a long Blog edition after taking two days off.

To prove that my two double row claim in not marketing hype, here is a quick image of the new purchases and consignments that will be arriving to the price list soon. On top of the 130 holdered pieces in the two boxes, there are another 40 coins at CAC for review. Results should be known by Wednesday followed by their arrival on Friday. If 170 new offerings were not enough to handle, that complete circulated Barber quarter set is due to arrive tomorrow!

GFRC customer should get prepared for an onslaught of new offerings.

GFRC November New Purchases/Consignments - Coming Soon!

 

GFRC Black Friday Sale - November 29 - December 1

A reminder that the annual GFRC Black Friday sale launches on Thanksgiving Day midnight. Consignor discounting inputs continue to arrive. The deadline for those discounting inputs is Tuesday (tomorrow) noon time.

Please plan to spend time on the GFRC website and price list during the Thanksgiving holiday period. In parallel with the Black Friday sale, I will be loading a host of new purchases for your consideration. Believe me, the Baltimore new purchases are substantial and an upgrade for GFRC inventory.

Complete details for navigating the Black Friday will be published in the Blog on Wednesday and Thursday.

 

Global Financials News

Thanksgiving week arrives with global equity markets in a most upbeat mood. World wide market futures are entirely green and projecting gains of about 0.5% to 1.0%. Let's review several Seeking Alpha headlines before checking our usual commodities and the long bond interest rate.

Futures market are brighter as China acts on IP. Will Beijing really crackdown on internal mainland IP theft? I have my doubts as the courts/judges are not independent, rather aligned with government policy requirements. China culture is two tiered; what is said to gain favor and what is done to benefit social order.

The latest trade headlines are giving U.S. stock index futures a boost to start the week, with the DJIA pointing to a gain of 72 points at the open. China announced it will raise penalties on violations of intellectual property rights and is exploring lower thresholds of criminal punishments for those who steal IP. Assuaging recent concerns, U.S. National Security Adviser Robert O'Brien also said on Saturday that an initial trade deal with China was still possible by the end of the year.

Democracy has landslide victory in Hong Kong

The Hang Seng index rose 1.6% overnight as pro-democracy forces won 86% of the seats on Hong Kong’s local district councils. The pro-government camp only won about 12% of seats versus 65% four years ago, putting pressure on authorities to meet the demands of the city's protestors. While district councilors typically handle local matters and lack legislative power, they hold close to 10% of the seats on the 1,200-member election committee that chooses the chief executive.

Can Boris Johnson complete a Brexit promise as Christmas gift to the British people?

Comfortably ahead of the opposition Labour Party in the polls, Boris Johnson has laid out the Tory manifesto ahead of the Dec. 12 election. He's pledging to bring back his Brexit deal to parliament before Christmas and ruled out any further delays, saying, "we will not extend the implementation period beyond December 2020." Johnson also promised no new taxes in contrast with Jeremy Corbyn, who has proposed the measures to fund a major expansion of the U.K. Sterling +0.4% to $1.2881.

And then there is Bitcoin crash! Xi Jinping is cracking down on crypto operations in China to control capital flight to the West.

Bitcoin euphoria is wearing off fast as the currency plunged another 10% overnight to below $6,600 on concerns about a crackdown on crypto operations by China. That puts it on track for eight straight days of declines, tying a record losing streak from 2014. While bitcoin soared to $10K last month on comments from President Xi, who said Beijing should speed up research into blockchain, the PBOC is now warning investors not to conflate the technology with cryptocurrencies.

Now that we've reviewed the headlines, let's have a look at how the long bond interest and commodities are reacting.

As expected, the 10 Year U.S. Treasury yield has climbed to 1.8% in a risk off environment. Gold is also seeing monies moving into riskier assets with a quote of $1458/oz.

Bitcoin is down substantially at $6618/coin. Crude oil just meanders along at $57.68/bbl. How I loved the low gasoline prices during the Maine to Florida drive.

 

Wrapping Up The Blog

So what is on the GFRC schedule for today? A few orders must ship this morning followed by photography and posting new offerings to the price list. I will be posting new listings first and catching up the images.

My apology for not writing Blogs on Saturday and Sunday. Given the amount of preparations and 24+ hours of driving, I was not in a mood to write. With the Venice office up and running, it is GFRC business as usual starting today.

I will be in the office the entire day and look forward to your potential purchases or inquiries. Please watch the 30 day price list and the Blog for the posting of new offerings and images. There will be a host of great coins to consider. Trust me.....

Thank-you for stopping by at the Blog!

 

 

 

November 22, 2019

Fortin Seated Dime Core Date & Mintmark Set Duplicates

and

Substantial Whitman Baltimore New Purchases - Coming Early Next Week

Greetings and welcome to a Friday Blog edition.

Today's publishing time is a tad delayed as I've been watching the Tesla Cybertruck announcement. What a beast of a truck with bullet proof exoskelton plus acceleration faster than a Porsche 911. As usual, Elon Musk shatters the status quo with a non traditional truck design.

But you came here to read about coins and GFRC status.

The GFRC office packaging event is just about complete. Thursday was yet another long day in the office as I meticulously went through every double row slabbed box, PCGS blue boxes and other boxes for inventory storage. All inventory has been accounted for and is packed.

Today's attention shifts to winterizing the homestead followed by one final basement sound room listening event prior to two days of driving.

 

Scarce Release of Gerry Fortin Core Liberty Seated Dime Set Duplicates

As some GFRC customers may have noticed, I'm back in the collecting game and patiently upgrading my core Liberty Seated dime date and mintmark set. The 1845 and 1880 Philadelphia dates saw upgrades in the past 60 days. As a result, duplicates are immediately available for purchase and are posted to the price list. Please note the strike on both pieces. Strike plays a significant role concerning eye appeal. Hammered strikes with high relief devices are much more desirable that those with irregular strikes. Yes, TPG grade assignments are critical for establishing market value but I've seen too many poorly struck MS66 and MS67 Seated dimes that will never find a home in the Fortin collection.

The 1845 F-108 dime resides in a PCGS Rattler holder and is the web-book plate coin. Date repunching is bold and easily seen with 10x loupe. The 1880 F-103 is also a web-book plate coins with cameo eye appeal. Main devices are frosted and contrast nicely against the mirrored fields. I believe both pieces are fairly priced given their strikes and CAC approval. Please note the images are old version with some color enhancements. Once in Florida, new images will be taken with current GFRC photography techniques.

Gerry Fortin Core Date & Mintmark Set Duplicates

Strike is King along with CAC Approval

1845 F-108 PCGS MS64 CAC 10C                                                   1880 F-103 PCGS MS 65 CAC 10C

Priced at $1600                                                                                Priced at $1350

    

 

Memories of June 2014 - GFRC Photo Archives

While cleaning up old laptop folders, I can across a Liberty Seated Collectors Club group photo taken at the 2014 Summer Baltimore show. GFRC was in its business infancy at this time. You will note the presence of Renee Fortin and Eugene Gardner in the image. Renee was home from Virginia Tech Vet school and helping with the GFRC business start-up and was my table assistant at the Whitman Summer show. For some unknown reason, everyone looks five years younger in this photo....

Memories of June 2014 - Summer Baltimore LSCC Regional Meeting

 

Substantial Whitman Baltimore New Purchases - Price List Debut Next Week

Welcome to the final GFRC new purchases list from the Whitman Baltimore show. The Whitman show was a very favorable GFRC event, both from a buying and sales perspective. One of the joys of operating as a coin dealer is handling cool quality coins. Handling beautiful pieces of metallic art reinforce my love for the hobby and ignites an internal passion to keep moving forward each day.

Most of the following pieces offer superior eye appeal with CAC approval. Those not CAC approved are still above average for the grade.

At GFRC, I continue to use my three faithful parameters when adding higher price inventory. Those parameters are strict originality, complete strikes, and above average eye appeal. If something "strikes" your fancy within the following list, please don't be bashful to reach out via email.. First Right of Refusals are welcomed. This is an opportunity for GFRC customers to acquire top quality coins.

What are my favorite pieces from an eye appeal perspective? The 1912 Liberty V nickel is pure joy and perfection at the PR67+ grade level along with CAC approval. I just can't stop viewing this superb gem under a light source. Second on the list of eye appealing offerings is the 1885-S PCGS MS65 Morgan with its proof like fields and natural peripheral toning. Third is the 1833 Capped Bust half dime graded PCGS MS66 with heavy mirrored fields.

From a Liberty Seated coinage perspective, there are two stand out offerings. First is the 1846 PCGS EF40 CAC dime that is fully struck and toned with uniform gray patina. This piece is essentially a gem at the EF40 grade level and will not last long on the price list. Second is the 1861 CSA Scott Restrike graded PCGS MS63. Most Scott Restrikes will be found with a flattened out obverse as a result of the striking process. But not this example! The obverse device are bold with just a tad of flattening a Liberty's lower leg. Overall toning pattern is consistent with what I've come to expect for strict originality. The CSA Restrikes were not properly cleaned after plaining and also, after being struck. Residual chemisty in the slurry produces distinctive toning patterns once struck.

Here comes the last of GFRC's Whitman Baltimore new purchases.

Indian 1c: 1862 PCGS PR66+ CAC superb gem, hammered strike, reflective mirrors; 1892 PCGS PR65RD Cameo CAC watery mirrors!

Liberty 5c: 1912 PCGS PR67+ CAC monster reflective luster, just amazing!

Capped Bust 5c: 1833 PCGS MS66 heavily PL with peripheral rose blue, an awesome piece!

Seated 5c: 1850 PCGS MS66 frosty luster with full strike

Buffalo 5c: 1913-S Type 1 PCGS MS66 superb gem, fully struck; 1917-D PCGS MS66 steely gem with swirling cartwheels; 1925-S NGC MS65+ CAC a super grade rarity

Seated 10c: 1846 PCGS EF40 CAC super choice for grade with crusty patina; 1846 PCGS F12 CAC choice with ebony-gray fields; 1874-S F-102a PCGS MS66+ steely luster, light rose patina, 100% struck

Seated 25c: 1854 PCGS MS64 CAC creamy luster, hammered strike, great type piece; 1857 NGC MS63 frosty luster with choice rose colored surfaces

Barber 25c: 1909-D PCGS MS65 CAC brilliant frosty luster, faint rose coloring

Draped Bust 50c: 1805/4 PCGS F15 CAC choice with circulated cameo eye appeal; 1801 PCGS VF20 CAC choice original, tough date

Capped Bust 50c: 1814 O-104a PCGS AU58 CAC old time golden frosty luster, swirling cartwheels, well struck

Seated 50c: 1839 No Drapery PCGS VF30 CAC crusty, popular type coin; 1861 CSA Scott Restrike PCGS MS63 incredibly original, bold obverse devices, potential Louisiana base coin.

Barber 50c: 1896-S PCGS AU55 mirrored fields, rose-gold patina, swirling cartwheels; 1911-S PCGS AU58 brilliant white luster; 1912-S PCGS MS64 substantial mint frost, JUST BUY IT NOW quality

Morgan $1: 1885-S PCGS MS65 mirrored field, swirling reflective luster, natural peripheral burnt gold, superb eye appeal!

 

Global Financial News

World-wide equity markets are moderately upbeat to close out the last trading week before Thanksgiving. Bitcoin values took a staggering 10% lose during the past 24 hours.

Let's open this segment with Seeking Alpha's headline concerning the Telsa Cybertruck announcement.

Entering into the most profitable corner of the U.S. auto market, Tesla has unveiled its all-electric pickup called Cybertruck. The futuristic, trapezoid-shaped vehicle will start at a competitive $39,900 - with 7,500 pounds of towing capacity and 250 miles of range per charge. Dual motor ($49.9K) and tri-motor models ($69.9K) extend towing capacity to 10K and 14K pounds, as well as a 300 and 500 mile range. Expected to arrive in late 2021 and 2022, the pickups also feature a cargo bed that can hold and charge an electric ATV.

Christine Lagarde's first public speech as European Central Bank head contained an important message to European states. Economic growth is no longer a certainty.

Almost three weeks into the job, ECB President Christine Lagarde is calling for regional governments to invest more in a "new European policy mix." Monetary policy should not be "the only game in town," she added, stating the central bank will undertake a "strategic review" in the near future. Uncertainties impacting eurozone growth have also "proven to be more persistent than expected," and increasing trade seen during decades of globalization is "no longer an absolute certainty."

What about our favorites commodities and the long bond interest rate? The 10 Year U.S Treasury yield has dropped to 1.7% and indicates additional demand for the safety of the U.S. dollar. Physical gold is holding steady at $1471/oz while crude oil prices climbed to $58.34/bbl. Bitcoin dropped over 10% to $7083/coin.

 

Wrapping Up The Blog

Actually, it appears that the Blog publishing time will be reasonable since much was prepared on Thursday evening.

My apology as I don't anticipate preparing a Blog edition for Saturday morning. We will see how the day goes as something may be written before heading to bed.

Today brings the last GFRC shipment from the Maine office. The office transition is on schedule with Venice office start-up on Monday. The basement Focal/Naim sound system will be terribly missed during the upcoming five months.

Thank-you for checking in and reading through another Blog!

 

 

 

November 21, 2019

GFRC's Venice Florida Transition Underway

Greetings and welcome to the another Blog edition. Thank-you for checking in on a daily basis.

As the headline indicates, the next 24 hours bring a concerted effort to organize the GFRC office, its inventory, and accessories. Friday is packing day along with house closing preparations. After being snowbirds for years, the routine is well understood. Execution is key as one mistake or oversight could lead to frozen pipes or a box of coins being left behind. There are a host of details to consider. For example, not leaving ANA or Whitman Baltimore show badges behind. GFRC mailed its 2020 Atlanta ANA Spring show application yesterday; badges need to come with me. Ditto for the March 2020 Whitman Baltimore show.

After three days of gloomy weather, the skies have cleared. Today's forecast is for bright sunshine. However, I will resist the urge to run outdoors with Whitman Baltimore new purchases for photography. It is best to stay focused on organizing inventory for transport.

Wednesday also brought a successful visit to the bank vault. A full double row box of over sixty Liberty Seated dimes, from my reference collection, were selected and will be packed for Florida transport. During the upcoming five months, I will be slowly parsing out those pieces into regular GFRC inventory.

 

GFRC's Florida Mailing Address in Effect

As mentioned in Wednesday Blog, the GFRC website has been updated with the Florida mailing address. Effective immediately, all check payments and consignment shipments should be sent to the Florida office. GFRC's Florida mailing address is;

GFRC, 502 Auburn Lakes Circle, Venice FL 34292-2367

My dealer listing on Collectors Corner will be updated this morning to also capture the Florida address.

 

Black Friday Sale is One Week Away

I'm pleased to report that Black Friday Sale discounting instruction are beginning to arrive. If you don't immediately hear back from me concerning inputs, there is nothing to worry about. Email instructions are being collected within my email Inbox. Starting Tuesday of next week, I will systematically review the Inbox and load all discounting instructions into COIN system. Matt Yamatin has just launched the Black Friday Sale banner and countdown clock as a reminder to all consignors.

Once again, please send your Black Friday Sale discounting instruction with Black Friday Sale Instructions in the email header. A few new consignors are still providing instructions within the body of an email that contains multiple topics. These are the situations where discounting instructions may not be captured. At GFRC, the owner (me) works closely with the client and consignor community to faciliate product sales. Given the community size that is supported by a single person, your help would be most appreciated.

 

Important GFRC Baltimore New Purchase Announcement - Friday November 22

Within Wednesday's Blog, I made mention of a substantial new purchase deal that was initiated at the Whitman Baltimore show. This deal wrapped up on Tuesday and the lot is due to arrive via USPS Express this afternoon. The deal is a strategic step for GFRC. Being one to not remain comfortable with the status quo, I went into the Baltimore show on a mission. Sure, I hoped to sell many consignor coins at the show towards pleasing clients and rotating inventory. That goal is tactical and the foundation for success. Business expansion is a different story.....

Come 2020, the GFRC business will continue on a path for both vertical and horizontal growth. Managing growth on two axes is difficult and take considerable forethought and incremental capital. For Blog readers who are not business owners or have careers in the non profit sector, please allow me to explain what vertical and horizontal growth implies in this discussion.

Vertical Growth - When the term "vertical" is used, it coincides with the Y axis on a two dimensional graph. This vertical axis captures inventory pricing. GFRC has been increasing the value of offered coins during the past five years. I started GFRC selling $50 to $500 coins. Today, coins priced in the $500 to $5000 price range are commonplace. Growing the vertical axis suggests that GFRC will begin stocking coins at the $5000 to $15000 level.

Horizontal Growth - Within the Blog, I often make mention of adding new "product lines". The term "product line" is a function of my years in the semiconductor industry. Adding an electronic product line required a substantial investment in design tools, manufacturing equipment and sales channel development. The same can be said for a serious coin dealer. I see each coinage denomination/design as a "product line". Initiating and ramping a product line brings addition start-up and support efforts. Capital allocation for initial stocking inventory is necessary. I must learn how to grade new product line coins and recognize striking characteristics to become a credible supplier. Personal education is just as important as financial capital. Time investment is paramount.

Executing business growth on a vertical and horizontal basis is most challenging. Vertical growth on existing product lines allows the GFRC brand name to be better recognized throughout the numismatic community. Growing on a horizontal basis meets my personal need for continuous learning. I'm enjoying the current expansion into Barber coinage and learning each denomination's key and semi dates. GFRC's expansion into the United States gold market has been an insightful experience thanks to the mentorship from Dan White.

My apology for this long preamble and a bit of a diversion from the segment's title line. On Friday, I will be announcing more Baltimore show new purchases including the contents of a substantial deal that has been negotiated. Included in the deal are better date Barber halves, high grade 20th century pieces, and an 1861 Scott Restrike grading PCGS MS63. Many are CAC approved; a critical parameter for inventory expansion. With CAC approval added to the picture, are we dealing with a three dimensional graph and business?

 

Global Financial News

Global equity market futures are flashing red to start the day. Hong Kong's stock market is under considerable pressure by pro-democracy riots. Let's open the Blog's financial segment with this Seeking Alpha headline.

Reports surrounding the latest trade developments saw U.S. stock index futures inching between slight gains and losses overnight. Reuters suggested that a so-called Phase One agreement between the U.S. and China may not be completed until next year, though China's foreign ministry attempted to allay fears that talks might be unraveling. Meanwhile, the U.S. House of Representatives passed two bills intended to support protestors in Hong Kong, prompting Beijing to accuse the U.S. of interfering in domestic affairs.

In Wednesday's Blog, I posted a Seeking Alpha headline concerning a startup company named Nikola that claimed to have made a huge breakthrough in battery technology that would disrupt the Electric Vehicle (EV) market. 600 mile range on a single charge was mentioned. I forwarded to headline to Matt Yamatin for his thoughts and feedback given his Sustainability consulting business and constantly studying EV market developments. Matt shared the following;

This is likely all hot air. Nikola as a company has no real experience with battery technology and is known to make big announcements they can't back up as a means for more funding. All the battery tech tends to go to Tesla first as they are by far the largest customer right now.

There are rumors spreading that Telsa is working with a few folks (including the individual that invented RAM and lithium ion batteries) on the mythical solid state battery. It matches with the range improvements Tesla has suggested for its Truck and Semi with a 2022 potentially timeline. I wouldn't expect ranges to get much above the mid-300 miles for a while though. Charging speed is becoming faster replacing the need for bigger batteries - the new V3 Tesla chargers provide 200 miles in about 20 minutes.

This segment would not be complete without a check of commodity prices and the long bond interest rate. Physical gold inched down during the overnight to $1470/oz while the 10 Year U.S. Treasury yield increased slightly to 1.75%. Crude oil prices saw gains to $56.78/bbl while Bitcoin continues to pull back at $7879/coin.

 

Wrapping Up The Blog

Yes, I recognize that the Blog without coin images can be visually boring. Please have patience while the Florida migration takes place. Once operating from the Florida office, the Blog will be awash in fresh coin images during new purchase and consignment roll outs.

Of course, I will be in the GFRC office the entire day carefully preparing inventory for transport. I'm still open for business and would enjoy selling a few coins. Please call or email on items of interest.

Again, a sincere thank-you for checking in at the Blog. I'll be glad when next Monday morning arrives with the GFRC business restarted in a warm winter location.

See you tomorrow....

 

 

 

November 20, 2019

CAC's Bold Market Expansion Effort!

Greetings and welcome to the Blog on a Wednesday morning.

The countdown clock for the annual Florida migration is down to just 72 hours. I'm pleased to report that preparations remain on schedule with no anticipated last minute heroics or high stress levels. Setting a week long schedule and faithfully working through each task to completion is paramount for a smooth transition.

Southern Maine weather has been continually cloudy and wet. Actually, the weather has been conducive for working long hours in the GFRC office and recovering from the Whitman Baltimore show. To provide a sense of what a higher volume dealer experiences after a major coin show, following is a tally of the tasks accomplished since Sunday.

- Twenty-six USPS Two Day Priority boxes have been packaged and shipped.

- All Baltimore show transactions have been recorded in the COIN system and the GFRC price lists are up to date.

- Nearly 1000 holdered coins have been re-inserted into their plastic sleeves and merged with inventory that remained in the GFRC office safe. Even with twelve cases, GFRC left lower priced inventory behind.

- Consignments that arrived at the Baltimore show and via USPS Express (Monday/Tuesday), have been loaded into the COIN system with reports provided to consignors.

- New purchases have been extracted from the inventory boxes and separated for photograply upon arriving to Florida.

- Two PCGS blue boxes chocked full of new purchases were prepared for CAC submission last evening and will Express ship today.

- I closed out a substantial new purchase deal late yesterday. This deal was tendered at the Baltimore show. Those coins will arrive on Thursday with many being CAC approved. This purchase is yet another strategic step towards expanding additional GFRC product lines.

- Responding to the usual GFRC client emails, purchase orders and die variety attribution advice.

Tuesday brought a particularly long day in the office to maintain schedule. I arose at 6:00 am as the Blog must be composed. At 9:00 pm, I finally called it a day and went to the basement sound room to chill out with more Roger Waters music. Lunch was a quick salad at the office desk while reading the latest FOX online news while dinner was another salad (I added some Italian meatballs for variety) at the same office desk. Diane was down in Massachusetts with friends at a Bob Dylan concert.

Am I crazy? Nope!

This is the behavior of a passionate person who believes in their business mission. The numismatic market needs dealers that work closely with collectors towards building superior collections at the mid price level. Trading CAC approved early type and U.S. gold has a place in a fragmented market.

 

GFRC Mailing Address Shifts to Florida

Today brings website updates and a shift to the Florida mailing address. Please do not send payments to the Maine address effective today. Just hold on to those checks and please place in the mail to Florida address starting on Thursday. GFRC's Florida mailing address is;

GFRC, 502 Auburn Lakes Circle, Venice FL 34292-2367

 

CAC's Bold Market Expansion Effort!

My hat goes off to John Albanese and John Feigenbaum for an important announcement that arrived via email on Tuesday afternoon.

The CAC website now offers CDN's market pricing for CAC approved coins. Once the email arrived, I immediately visited CAC population reports to check for myself. Yes indeed, the merger of CAC populations with CDN pricing were immediately evident in a simple to use report. This information amalgamation will further streamline my efforts in the office and during pre-show buying.

Have Blog readers considered the implications of this information merger? I have since an avid student of the numismatic marketplace. Competitive benchmarking is another ingrained mental process left over from years in the semiconductor industry.

The combined CAC and CDN information platform is now a direct competitor to the PCGS Pricing Guide. I noted dealer advertising on the CAC website as another revenue stream. This is no different than the PCGS model.

Stepping back for a moment and examining the entire numismatic market, the CAC and CDN information platform has huge implications. There is no question that the current market is tiered. Dealers have been struggling to determine accurate premiums for CAC approved coins. Collectors have also been wrestling with fair pricing for CAC stickered coins. All of this uncertainty disappeared on Tuesday afternoon. The CAC and CDN alliance is a bold positive step and will further enhance trading within the market's top tier.

I could not be more pleased as an advocate of CAC approval since launching the GFRC business. GFRC constantly has 300+ CAC stickered coins in inventory. CAC'ed coins sell at a faster rate than those without approval. Please watch the GRFC price lists carefully during the upcoming two to three weeks. CAC inventory will grow in size and start approaching 400 coins. Whitman Baltimore show new purchases and recent consignments have a high CAC content. My goal is to establish GFRC as a leading dealer of top tier quality early silver type and United States gold for collectors with reasonable means.

 

Global Financial News

Global markets are finally taking a breather after a string of gains. Red futures are flashing due to renewed uncertainty for a China - U.S. trade deal. The United States Senate passed a resolution that supports human rights in Hong Kong only to anger China's foreign ministry. The world is watching developments in Hong Kong with lingering memories of the Beijing crackdown at Tiananmen Square. Following are two Seeking Alpha headlines that capture Asia news and potential impacts.

Asian stocks fell back after President Trump's threat to raise tariffs on Chinese goods reverberated across the Pacific Ocean. The Shanghai Composite Index fell 0.8% and Hong Kong's Hang Seng Index was off 0.75%. Japan's Nikkei slipped 0.6% and Australia's ASX 200 dropped dropped 1.2% after a financial regulator cracked down on Westpac Banking.

Hong Kong riot police are still surrounding a university campus with a small number of protesters a day after the largest number of arrests and injuries were reported in the city. The protests in Hong Kong continue to draw attention from outside of China. The latest show of support was from the U.S. Senate, which unanimously passed legislation that supports human rights in Hong Kong. That action drew almost immediate criticism from China's foreign ministry. On the investing front, the disruption in Hong Kong has held back investor enthusiasm for casino companies with Macau properties, including Wynn Resorts, Las Vegas Sands, MGM Resorts and Melco Resorts & Entertainment. Editor's Note - Macau is just a ferry boat ride away from Hong Kong.

I'm positive that Matt Yamatin will be thoroughly pleased with the following headline from the Electric Vehicle industry. If EV passenger cars can achieve 600 miles of battery life on a single charge, it is game over for gasoline powered cars.

The buzz is building up for Tesla's truck event that is scheduled for tomorrow night in California. Pricing on the Tesla truck will be closely watched with EV startup Rivian setting a starting price of $69K. Details on towing capacity, power output, and off-road capabilities will also be crucially important as Tesla looks to compete with Ford's F-150 line and Ram trucks. In other electric truck news, startup Nikola claimed yesterday to have made a huge breakthrough in battery technology that it predicts will disrupt the market. Nikola says it's in discussions with customers for truck orders that could fill production slots for more than ten years and propel Nikola to become the top truck manufacturer in the world by revenue. The next-gen battery technology is also said to have the potential to increase the range of current EV passenger cars to 600 miles from 300 miles.

Let's close this segment with our daily review of commodity prices and the long bond interest rate given the market shift towards risk on trading.

Most interesting is the substantial drop in the U.S. 10 Year Treasury yield to 1.74% as a reflection of renewed demand for the safety of Treasuries. Physical gold also improved to $1477/oz while crude oil dropped to $55.41/bbl. Bitcoin remains on a slow slide and is priced at $8102/coin.

 

Wrapping Up The Blog

There is little else to say at this point. I will be in and out of the GFRC office today with several errands including time in the Windham bank vault. My goal is to pull another group of Liberty Seated dimes to be sold while being a snowbird.

The GFRC office is always open for new orders. I will respond to those as quickly as possible.

Thank-you for visiting with me on a Wednesday and taking in this rather lengthy edition. See you tomorrow!

 

 

 

November 19, 2019

Important Liberty Seated Half Dollar Consignment!

and

Last Day to Mail Payments to Maine Office / Black Friday Sale

Greetings and welcome to the Blog on a Tuesday morning!

There is much weather related relief as the Blog is composed. Monday temperatures remained above freezing throughout the day and into the overnight hours. Instead of awaking to a top to bottom sheet of ice across the driveway, accumulated snow has melted with only the area in front of the garage doors being iced over. There is plenty of wood stove ash that can be spread in that area if necessary. Today bring more rain and clouds which is fine. I'm faced with another heavy shipping event during morning hours followed by loading the balance of Baltimore consignments into the COIN system. If all goes smoothly, Baltimore show new purchases and newly repatriated Osprey U.S. gold will be organized for a large CAC submission on Wednesday.

Incremental consignments are due to arrive prior to Friday. All are being collected in a double row slabbed box that holds 66 pieces. This box should be chocked full by Florida departure time. Adding in Whitman Baltimore show new purchases and Osprey's Europe sourced U.S. gold raises the amount of new offerings to roughly 140 coins. Monday's Venice Florida weather forecast calls for sunny conditions with a daytime high of 71F. You can bet my first priority will be photographing coins that day. Once armed with images, the GFRC price list will start looking fresh by Wednesday and just in time for the Black Friday Sale.

 

Liberty Seated Half Dollar Consignment Announcement

I'm most pleased to announce the arrival of two rare Liberty Seated half dollar varieties. Let's review each piece individually.

1873 No Arrows Open 3 PCGS VF20

The 1873 No Arrows Open 3 half dollar is a recognized rarity among Liberty Seated coinage collectors. The Open 3 half dollar was a replacement for the Closed 3 issue of that year due to the 3 digit being too similar to an 8 digit. The Open 3 mintage is reported to be 214,200 pieces which has to be incorrect based on few known survivors across all grades. PCGS has graded thirteen total in all VF grades (VF20, VF25, VF30, VF35) plus a miniscule three pieces in both EF grades.

GFRC is pleased to be offering a choice original VF20 specimen with natural gray patina. PCGS grading is conservative as all seven letters in LIBERTY are sharp other than weakness on "E". The reverse strike is particulary notable with deeply impressed eagle feathers, claws, and arrow feathers. I'm most pleased with the coin as it has the classic "Gerry Look".

1877/6 PCGS MS64 CAC Overdate

The 1877/6 Overdate features the top loop and ball of a 6 digit positioned on top of the flag of the last 7 digit. At the Mint State grade level, PCGS has certified only four examples based on their population reports. Two MS62s and a single MS64 will be found with the older PCGS 1877/6 label along with a single MS64 example with the newer 1877/6 Overdate FS-301 label. GFRC is pleased to announce the offering of the sole MS64 example certified with new Overdate FS-301 label. Rather than writing a lengthy description, I've linked to the CoinFacts plate coin image per below. The undertype 6 digit is most evident on this wonderful example.

1877/6 PCGS MS64 CAC Overdate - PCGS TrueView Image

Both pieces are currently in the photography loop and will be available next week. First Right of Refusals are suggested.

 

Last Day to Mail Payments to Maine Office

Tuesday is the last day to mail check payments to the GFRC Maine office. I'm assuming that USPS will deliver those letters by Friday. If not arriving on Friday, payments will be forwarded to the Venice office address.

The GFRC Venice Florida office address will be updated on the website and price lists starting tomorrow as follows;

GFRC

502 Auburn Lakes Circle

Venice, Florida 34292

I will be using the Quick Ship program as much as possible to get ordered coins into the mail by Friday to lighten the transport load. By Thursday of this week, the GFRC return address on packages will also be changed to the Venice location. There are many details to manage during the annual migration.

 

GFRC Black Friday Sale: November 29 - December 1

The Thanksgiving holiday weekend arrives later than normal during 2019 and stretches into December. I was not at all excited about driving to Florida during the second weekend in December as East Coast weather can be most unpredictable. As a result of the calendar, the Florida migration was moved up to the weekend prior to Thanksgiving. This will allow time to get settled in followed by working on Black Friday sale preparations.

GFRC's special sales are an opportunity for consignors to discount their offerings by a minimum of 8% to participate in that sale. Consignors are free to discount as much as they wish but 8% is the minimum threshold for having coins listed on the Black Friday price list.

Starting on Thurdays of this week, a special banner will appear at the top of the GFRC For Sale price list page and the Daily Blog. That banner will contain a countdown clock. Once the clock reaches 0:00, the banner becomes a link to the Black Friday sale price list. This special price list is entirely separate from regular GFRC price lists. Clicking on the link initiates the download of the Black Friday price list with tabs for individual product lines. Customers can scroll the various tabs searching for that special coin that is now bargain priced. Shopping cart icons will be enabled and available for triggering an email for purchases.

The Black Friday sale luanches on November 29 12:00 am and ends on December 1 at 9:00 pm. GFRC's special sales events typically contain 600 or so coins being offered at various discounted prices. Once the sale closes on December 1, the special banner and link disappear with unsold coins being available at regular prices in effect before the sale.

GFRC sales events are cash and carry with no lay-a-way provisions. If purchasing multiple coins and needing 30 days to pay off the entire purchased lot, then I'm sure mutually agreeable terms can be worked out.

Consignor pricing reductions must be sent to GFRC by noon time November 26! Please use Black Friday Sale Discounting in your email subject line to allow me to identify the sale reductions emails from regular GFRC business correspondence. Starting November 27, pricing reductions will be loaded into the COIN system along with sending a confirmation email. If you don't hear from me by noon November 28, unfortunately your pricing reduction instructions may have been missed. This happens when consignors provide price reduction instructions as part of an email that includes multiple topics. Therefore, I ask that Black Friday price reductions be issued in a separate email for easy tracking.

 

Global Financial News

Equity markets continue to be in an upbeat mood with global futures points to more gains on Tuesday. Investors don't appeared to be concerning about the ongoing political drama in Washington DC. Seeking Alpha presents a host of interesting headlines to consider today. But first, let's review our regular commodity prices and the long bond interest rate.

Given the favorable performance of equity markets and positive outlook for continued economic growth, the 10 Year U.S. Treasury bond yield is holding at the 1.82% level. Physical gold is caught up in the global optimism and trades at $1468/oz. This is on the low end of the current trading range. Crude oil has inched down to $56.61/bbl while Bitcoin continues to pull back at $8082/coin.

Elon Musk is an incredible innovator and driving advances in battery technology. Case in point is an Australia battery project and the world's biggest battery.

Tesla's battery project with Neoen in South Australia became "the world's largest battery" when it was completed two years ago, and now it's expanding by 50% to 150 megawatts. The storage site has already saved more than A$50M in its first year of operation, meaning that the A$66M venture is quickly on its way to paying for itself. Australian Energy Market Operator confirmed the system is much more rapid, accurate and valuable than a conventional steam turbine in a report published last year.

Another Chinese 5G implementation advantage is Beijing's control of their C-band spectrum as compared to western approaches for auctioning their bands to the highest bidders.

FCC Chairman Ajit Pai announced his support Monday for a public auction to free up C-band spectrum, a key band currently used for delivering video content for next-generation 5G wireless networks. The news sent Intelsat's stock crashing 40%. Major satellite service providers, which hold existing C-band licenses, had proposed selling the spectrum privately to wireless carriers, arguing a private sale would make the spectrum available for 5G faster.

Were you aware of an impending U.S. government shutdown given the non stop "impeachment mania" by the news media? It truly is amazing how Congress can get away with not executing budgetary duties.

The House will vote today on a stopgap bill aimed at preventing a government shutdown at midnight on Thursday. While Congress passed a two-year agreement to set budget levels and suspend the U.S. debt ceiling earlier this year, lawmakers have failed to come to terms on where to allocate the money amid disagreements over immigration and military funding. The Senate and White House will likely support the continuing resolution, hoping to avoid another partial government shutdown like the record-long one that began last December.

 

Wrapping Up The Blog

The 8:00 am Daily Blog publishing time has come and gone....

It is best to hit the upload button at this point and shift attention to another heavy shipping day. Yes, I will be in the GFRC office the entire day loading more consignments into the COIN system and preparing CAC submissions.

If a GFRC consignor, please don't forget your Black Friday discounting instruction emails!

Thank-you for checking in at the Blog. I promise to be back on Wednesday with yet more ramblings. See you then.

 

 

 

November 18, 2019

GFRC Office Up and Running!

Greetings on a Monday morning and welcome to a frozen edition of the Blog.

The Florida migration can't come soon enough! Current southern Maine temperature is a cold 28F with cloudy conditions. The good news is afternoon temperatures will rise to slightly above freezing. The bad news is rain is forecasted throughout the afternoon and into the overnight. Since living in the Maine foothills, there is a 2-3 degree temperature gradient from the coast, which is only 30 minutes away. I'm expecting a freezing rain event on Ledge Hill with the driveway turning to a sheet of ice. Tuesday brings a forecast for more rain and snow. Temperatures will finally return to the mid 40s on Thursday and Friday.

On a positive note, I've put the idea of photographing Baltimore show new purchases completely out of mind. GFRC customer must wait until the business is relocated to Venice Florida before photography will be restarted. Between the downright lousy Maine weather and limited sunlight, it is best to delay imaging new purchases until optimum sunlight conditions present themselves. That means sunny Florida!

Yes, the GFRC offie is up and running after a great Whitman Baltimore show. Once the Blog is uploaded, attention shifts to a substantial number of outgoing shipments along with receiving a week's mail that has been hold.

 

New Lucky Jade Stone

Here it is!

I'm thrilled to be showcasing the new lucky GFRC jade stone that was my parting gift from the Liberty Seated Club leadership team. Thanks again Len! The rope chain is key. Instead of keeping this Qing Dynasty replica coin in my pocket or wallet, it will be worn on its rope chain at coin shows along with dealer badge and 10x loupe.

GFRC Qing Dynasty Replica Jade Coin

.

Whitman Baltimore Show Consignments

As promised in Sunday's Blog edition, following is a report out on the many consigned coins that arrived at the Whitman Baltimore show. This report contains all but two consignments that will be showcased in Tuesday Blog. The latter two contain the rare 1842-O F-106 PCGS AU58 dime and several major Liberty Seated half dollar varieties.

First Rights of Refusal are always welcomed. Again, photography will not take place until arriving at the Venice Florida office.

Union Bridge Collection Consignment

The Union Bridge Collection is back and divesting three top quality early type coins much to my pleasure. How I wish for more CAC approved consignments at this quality level.

Capped Bust 50c:1807 O-112 Large Stars 50/20 PCGS VF35 CAC with crusty original gray surfaces, so choice; 1810 PCGS AU53 CAC another choice original early Capped Bust half with dirty gray patina over frosty surfaces

Seated $1: 1843 PCGS EF40 CAC, perfect for grade with gun metal gray-blue patina, lots of eye appeal

Port Matilda Collection

The Port Matilda Collection is back with a small offering of choice pieces. Please don't think too hard when these offerings reach the price list. All are perect for the grade with loads of natural toning and eye appeal.

Seated 10c: 1839-O F-102 PCGS VF35 CAC choice original gray; 1848 F-102 PCGS EF45 CAC choice gray patina with some residual luster

Gold $1: 1858 PCGS AU58 CAC choice with light copper-gold patina

New Jersey Collection Consignment

The New Jersey Collection consignor continues to clean out a host of bank boxes and continually transfers his spare change to GFRC. At Baltimore, he transferred a lot of five freshly graded Liberty Seated dollars that are better dates. All have detailed grades given today's conservative PCGS environment but are far from being harshly cleaned. I've seen straight graded Seated dollars that appear much less desirable than these nice offerings.

Seated $1: 1840 PCGS EF Details, light gray with EF45+ details; 1857 PCGS AU Details, rate date with typical strike, mirrored fields with old dip and retoning; 1859 PCGS EF Details, light gray with peripheral rose gold, too reflective at EF45 grade to be original; 1865 PCGS EF Details, EF45+ with mirrored fields, light gray/voilet toning; 1870-CC PCGS Fine Details, Filed Rims, an original piece with natural gray patina, reverse has very light rim filing through the original patina at 8:00 - 9:00 that is not distracting.

Southern Texas Collection Consignment

Yet another GFRC customer has decided to start divesting duplicates. This individual has chosen the Southern Texas Collection name and is welcomed to the GFRC consignor community. Liberty Seated quarters and halves are his primary focus.

Seated 25c: 1841 raw VF25 natural gray, tough date; 1853 A&R raw EF45 choice original gray; 1855-S raw VG10 perfectly original and nice; 1859-S raw G04 natural gray, honest wear; 1860 Type II/I raw AU55, choice original, light frosty silver gray; 1875-CC raw G06, tough date with natual gray toning

Seated 50c: 1852 NGC VF25 light original gray, key date; 1854 raw EF45 choice natural gray; 1857-S raw VG10 light clean, long ago clean and retoned; 1861-O W-3 raw EF40+ crusty darker gray patina, choice original; 1866-S Motto raw VF30 even gray, choice original; 1872-CC ANACS G06 gold label, perfect at grade with natural gray patina and close to complete rims; 1873-CC raw G06 original gray, perfect for date and Dansco album

Anonymous Consignment #1

This consignor likes to remain anonymous. His offerings are consistently above average in quality and sell well. This lot is top shelf and will not last long.

Barber 10c: 1898 PCGS AU53 choice original, brilliant frosty golden luster

Seated 10c: 1853 A&R PCGS VF35 choice original with natural light gray coloring

Barber 25c: 1894-O PCGS AU55 CAC ideal for grade and JUST BUY IT NOW; 1905-S PCGS AU55 choice with frosty luster and peripheral burnt gold; 1906-O PCGS EF40 choice original gray; 1915-S PCGS AU53 choice original gray

Anonymous Consignment #2

This is another consignor that wishes to remain anonymous and brings some interesting offerings to GFRC inventory.

Seated 50c: 1861-O W-1 Union Strike, raw AU53, even light gray with old clean

 

Global Financial News

World-wide equity markets remain upbeat as China - U.S. trade talks continue without negative leaks. China is also lowering a key interest rate for the first time since 2015. The following Seeking Alpha headline captures global investor optimism.

U.S. markets scored another hat trick on Friday as the S&P 500, Nasdaq and Dow hit fresh records, while the latter topped 28,000 for the first time ever. Stock futures now suggest gains of another 0.2% at the open. The move upward has been spurred by rising trade optimism, diminishing fears of a recession, while the barometer for the Fed to raise rates is incredibly high (and its balance sheet continues to grow). The People's Bank of China overnight also lowered one of its key interest rates for the first time since 2015, signaling further easing across the globe.

Looking at commodities and the long bond interest rate; crude oil is holding flat at the upper end of recent trading range with a morning quote of $57.93/bbl. Physical gold continues to retreat due to monies pouring into the risk on trade. Current quote is $1459/oz. Bitcoin has pulled back to $8452/coin. The U.S. 10 Year Treasury yield is flat at 1.84%

 

Wrapping Up The Blog

Whew, this has been a long edition and I'm already tired to start the day.

Morning shipping is substantial and will be garner my attention through noon time. Afterwards, new consignments must be loaded into the COIN system for tracking purposes. With just a few days left before the Florida migration, it is critical to have all inventory items properly documented.

I will be in the office the entire day if you are inclined to make a purchase.

Thank-you for stopping by at the Blog. See you tomorrow morning.

 

 

 

November 17, 2019

A Cold Maine Morning - Let's Get to Florida

Greetings from the Raymond Maine homestead and welcome to a frozen edition of the Blog.

Yes indeed, it is a cold start to the day! Current temperature is only 12F on the outdoor thermometer. The wood stove is cranking out heat as I attempt to bring the home to a comfortable temperature before Diane wakes up. Living in a passive solar home has its high and low points. Masonry is a wonderful device for heat storage and dampening temperature fluctuations. However, after a week of being exposed to 60 degree temperature from oil heat, the masonry take a full day to absorb higher heat content towards stabilize at regular 72F home temperature from the wood stove. With an outdoor temperature well below freezing, that heating process takes time leading to a cool start to the day.

The return transport from Baltimore to Maine was uneventful with an arrival time of midnight. There was no snow on the ground in Portland or even several miles from our home. But wouldn't you know it. Living on the side of a 950 ft hill brought a different landscape. The yard is completely white with ice and snow throughout the driveway. Winter conditions have arrived much too early this year! In just one week, we are off to Florida and none too soon.

There is much to share concerning the closing Whitman Baltimore show day. I'm operating on limited sleep since not heading to bed until 1:30 am due to wood stove duties, followed by arising early to write today's Blog edition. I promise to provide a full and detailed report on Whitman show happenings and consignments within the Monday edition. Here are a few highlights as a teaser.

- I was blown away when a rare Liberty Seated dime variety was consigned to GFRC immediately prior to closing down the booth. The 1842-O F-106 die paring features a heavily lapped reverse left over from 1841. The newly consigned example is a magnificent piece freshly certified as PCGS AU58 with a decent chance for CAC approval. What blew me away was a large obverse rim cud nearly consistent with the 1842 F-103a die variety. More details will be shared tomorrow after having a chance to study this dime in detail.

- My Liberty Seated Collectors Club presidency parting gift was sincerely appreciated. An extra special thank-you goes out to Len Augsburger. I recognize this was your idea! The new jade stone is carved in the shape of a Qing Dynasty coin with period enscriptions according to Harry Zhang. Yes, Harry was at the Baltimore show on Satuday morning. He made a special trip from Toronto, with his son, to take in the show.

- Saturday also brought the consignment of two major Liberty Seated half dollar varieties that will be shared on Monday morning. My guess is that GFRC took in at least 30+ fresh coins on consignment. Those will be loaded into the COIN system today coupled with attributions. All will be announced this evening by 9:00 pm. So please check back at that time to secure your First Rights of Refusals.

 

Whitman Baltimore Show Day 3 Report

Saturdays at the Baltimore show are unpredictable. Most prior Saturday sessions have been "tire kicker" events for those walking the bourse with Greysheets. My expectations were low for yesterday's closing session.

What a pleasant surprise when more serious collectors arrived to Booth 818 and bought higher priced offerings! When the time arrived to closed down, GFRC had sold additional inventory with sales at the five figure mark. Now that is icing on the cake.....

Overall, I could not be more pleased with the 2019 Winter Baltimore show. GFRC sales were above expectations along with some excellent pre-show buying. The staff had a wonderful time and enjoyed the event. Sales were brisk with minimal idle time.

The numismatic market remains robust with demand for strictly original early type and gold being obvious. CAC approved coins continue to grow in popularity with rising premiums. Once I have a chance to post all Whitman show new purchases, I'm sure there will be another wave of orders. Please keep visiting the Blog on a daily basis to stay abreast of new purchases and other fresh consignments that were promised to me at the show. At least one new consignment lot is due to arrive this week with several high grade San Francisco Barber halves and other cool offerings.

 

GFRC's Florida Migration Schedule - Change of Mailing Address

It is that time again to announce an address change for mailing GFRC check payments. Please note the following schedule. Come November 21, I will change all address listings on the GFRC website and price lists.

November 19 - Last day to mail payments to the GFRC, 225 Valley Rd., Raymond, Maine 04071

November 21 - Please mail payments to GFRC, 502 Auburn Lakes Circle, Venice, Florida 34292

 

Black Friday Sales Schedule and Discounting Inputs

The annual GFRC Black Friday Sale takes place on Thanksgiving weekend. The sale opens on Thanksgiving Day at midnight and is in effect until Sunday 9:00 pm.

The usual consignor requirement of a minimum 8% discount will be in place to participate in the sale. More information will be provided in Monday's Blog edition. The key date to remember is that consignor discounting inputs are due to me, via email, no later than noon time Tuesday November 26. Please use GFRC Black Friday Sale Discounting in your email subject line.

 

Wrapping Up The Blog

As you can imagine, a busy day is ahead of me. Baltimore show admin workload is substantial. All sales must be captured in the COIN database. This will enable a fresh price list update to removed sold coins. A Collectors Corner update is also necessary. By this evening, GFRC consignors will be able to log into MyAccounts and check their consignments for sold coins.

If that were not enough, the Baltimore show inventory must be merged back into regular inventory boxes. Fresh consignment must be loaded into the COIN system too. Monday morning brings shipment of orders taken in while at the Baltimore show.

Therefore, it is time to hit the upload button and conduct one final check for spelling and grammar errors. A second cup of coffee is immediately warranted along with a hot shower.

Thank-you for stopping by at the Blog!

 

 

November 16, 2019

Gerry Fortin Wraps Up as LSCC President

Greetings and welcome to the last Blog edition from Baltimore. Today brings the final day of the Whitman show followed by a long drive to the Maine homestead. Weather will be conducive for the drive with an arrival temperature of only 18F! Are we still in mid November?

As the headline indicates, Friday brought my last regional meeting as LSCC President. Moving forward, Len Augusburger has taken over the club's leadership role and I wish him the best of luck. Len is the ideal person for assuming the presidency given his broad based numismatic knowledge including authoring multiple books on American historical events that coincide with numismatics. Len is also the current project director at the Newman Numismatic Portal and has served as LSCC Secretary/Treasurer and Vice President for years. I leave the club leadership in outstanding hands.

The Baltimore regional meeting was well attended with about 25 club members. Len gave a well prepared review of my life and tenure as President. He closed with a lovely gift; a new Chinese jade coin to replace the one lost at Summer FUN. GFRC has a new good luck charm that will be carefully managed and displayed at forthcoming coin shows. Unfortunately, I forgot to take a picture of the new jade coin on Friday but will share in Sunday's Blog.

I've been known to be a brief speaker at LSCC regional meeting but took the floor for a 30 minute closing discussion. Several important points were made including;

- The LSCC must continue to work towards securing and enabling next generation collectors of Liberty Seated coinage. I can't think of a more important mission for the club given the competing attention challenges that our hobby faces.

- Die variety collecting is waning to some extent and needs to be modernized with a focused new initiative. This dear Blog readers, is my last project in a long numismatic career. The overriding goal is to enable a vibrant Liberty Seated die variety market that will supplement the demand for date and mintmark set collecting.. During the John McCloskey era as club President, die variety research was at its peak. Much information is available but takes considerable effort to locate as fragmented. My vision is the construction of a collector friend online platform that will facilitate easy access to die varieties for the Liberty Seated half dime, dime, quarter and half dollar denominations. These four denomination form the bulk of the Liberty Seated coinage market.

I went on to share more details concerning my vision of a modernized die variety information platform with LSCC regional meeting attendees. Time is too limited in today's Blog to share those details. This will be done at a later time.

 

Whitman Baltimore Show Day 2 Report

GFRC enjoyed a decent sales day on Friday but not to the same level seen on Thursday. Bourse floor traffic was light with a notable quiet period from about 1:30 to 3:00 pm. On a positive note, I'm pleased to report that Friday was a high yield day. Those customers that did visit with GFRC made purchases given the huge amount of inventory offerings.

Sales totals for the first two show days have already met expectations and I could not be more pleased. A substantial amount (a full PCGS blue box) of the Tuesday and Wednesday pre-show new purchases have already been sold after being posted in the Blog. Adding those purchases to bourse sales bring the Whitman Baltimore sale total into the high five figures. Again, I am thoroughly satisfied with Whitman show results and believe many consignors will enjoy hearing of their coins being sold.

Speaking of consignments, a few more consignments arrived at the show including two major Liberty Seated half dollar dates/varieties. Please check back on Monday for the entire list of new consignments taken in at the Baltimore show.

 

Wrapping Up The Blog

The time has arrived for a final breakfast with Diane, Dan and Rose Marie followed by returning to the Baltimore Convention Center for the 9:00 am bourse opening for dealers.

Thank-you for continuing to stop by at the Blog on a daily basis. Please check in on Sunday and Monday Blog editions as I will announce incremental new purchases that appears at the GFRC table on Thursday and Friday. There is still much to share including the new luck Chinese jade coin as my parting gift from the Liberty Seated Collectors Club.

See you then....

 

 

November 15, 2019

A Non-Stop Busy Start to Whitman Baltimore Show

Greetings from Baltimore and welcome to another Whitman coin show edition.

Today' Blog is being written on Thursday evening due to another early start on Friday morning. Breakfast comes at 7:00 am followed by being back on the Baltimore bourse floor at 8:00. After opening Booth 818, I'm heading up to Room 301 for the LSCC regional meetings which kicks off at 9:00am. This will be my last meeting as club president. I'm looking forward to taking the floor and reviewing the six years as club president along with handling the club transition efforts starting in mid 2013. As I've always been a proponent of quick and efficient regional meeting, this is my opportunity to speak at length and share thoughts on on the club's positioning in the numismatic hobby along with a personal vision for impacting the hobby in the upcoming five years.

 

Whitman Baltimore Show Day 1 Report

The 2019 Winter Baltimore show was off to a rip roaring start on Thursday.

The GFRC team of Gerry, Diane, Dan and Rose Marie arrived to Booth 818 promptly at 8:00 am. Setting up double corner tables with twelve cases and over a 1000 slabbed coins is a substantial undertaking. Setup took a full two and a half hours and stretched into early bird floor access. Luckily, the early bird traffic was minimal. The bourse opened to the general public at 12:00 noon with an immediate rush of collectors flowing across aisles. Withing thirty minutes, the floor was buzzing and sales was underway.

As the headline reads, the GFRC booth was non stop busy from 12:30 until 5:30 pm. All types of business were transacted including regular sales, trade deals and outright purchase. When not handling PCGS submissions, Diane was constantly writing sales and consignment receipts. Once the dust settled at end of day, GFRC has sold well into the mid five figures.

The day started with a large United States gold sale and quickly transitioned to silver coinage. Liberty Seated and Barber coinage lead the list of popular items. Capped and Draped Bust coinage was quiet but that could quickly change on Friday. Several consignments were taken in including a six piece lot of Liberty Seated dollars and more Barber quarters. An 1861-O W-1 Liberty Seated half dollar piece in raw AU condition with old cleaning also arrived. I'm also looking at a substantial collection of Barber quarters and halves for outright purchase on Friday. Demand for pre-show new purchases, as listed in this morning's Blog, continued to be strong. At issue was my ability to respond to all FRoR inquires due to be being fully consumed with customer communications and pricing responsibiltiies.

The bourse closed at 6:00 pm, followed by the GFRC staff heading to the Pratt Street Ale House for the traditional LSCC dinner. Camaradarie was great as was the food. We finally returned to the hotel room by 9:30 pm and here I am writing the Blog. Frankly, I am worn out at this point with a good night's rest being paramount. Let's end this Blog edition at this point.

In summary, the Whitman Baltimore has already been well attended. GFRC enjoyed a strong initial sales day. Life is good!

Thank-you for stopping by at the Blog. I will be back on Friday evening with a Day 2 report.

 

 

 

November 14, 2019

Substantial GFRC New Purchases Announcement Part 2

and

GFRC Consignment Proceeds Attain $4,750,000 Milestone

Greetings once again from Baltimore and welcome to another Whitman Baltimore show edition of the Blog.

Today's edition is being written on Wednesday evening due to 8:00 am dealer setup on Thursday. Please remember that GFRC will be at Booth 818 with twelves cases of quality early type and United States gold.

Wednesday brought another great pre-show buying day as GFRC becomes more aggressive with inventory expansion. Already, seven coins have been sold throughout the day from Tuesday's appointment based pre-show buying. After another productive day, writing this Blog edition is the last task of to complete before my head touches a pillow. Therefore, let's keep the preamble short and move immediately into two announcements.

 

GFRC Consignment Proceeds Attain $4,750,000 Milestone

There is no question that the GFRC consignment based business model is functioning well for all parties. In just two months, GFRC has returned over $250,000 of sales proceeds (less commissions) to consignors. With the upcoming Baltimore event during the balance of the week, the Black Friday sale on Thanksgiving weekend, and the upcoming Winter FUN show, I'm confident that the $5,000,000 consignment proceeds milestone can be attain by end of January 2020.

Of course, your help is needed for insourcing more quality consignments that will enable more purchases by the GFRC community.

 

Wednesday Baltimore Pre-Show New Purchases

Your dynamic duo was at it again on Wednesday morning. At 9:00 am sharp, Dan and Gerry arrived to the Baltimore Convention Center and the 3rd floor wholesale event area. Our mission was additional pre-show buying to ensure the best possible inventory for GFRC customers during the closing weeks of 2019.

After three fast paced hours of searching through hundreds of coins, I am most pleased to announce another substantial round of new purchases for your consideration. As usual, First Rights of Refusal are suggested to secure first shot at some mighty fine new inventory. Please understand that my response time to FRoR requests will be impacted by GFRC booth setup on Thursday morning. I will always honor FRoRs based on email or text message time stamps.

Seated 5c: 1850 PCGS MS66 CAC a sweet little gem with rich frosty luster and light peripheral toning

Seated 10c: 1861-S NGC AU50 crusty original and so scarce as a date; 1884-S F-105 PCGS AU50 CAC lovely aquamarine and rose toning

Seated 25c 1872 PCGS EF45 CAC light gray, choice original, better date

Barber 25c: 1896-S PCGS EF40 choice with residual luster, key date

Draped Bust 50c: 1801 O-102 R4+ PCGS VF20 CAC a date that is in high demand, beautiful circulated cameo eye appeal, gray fields

Reeded 50c: 1838 GR-9 PCGS AU53 perfect crusty gray surfaces, the way a naturally preserved silver coin should look.

Seated 50c: 1839 Drapery WB-4 PCGS VF30 CAC crusty gray patina throughout and choice; 1867 PCGS AU58 CAC so choice original, CAC pop (2) in AU58; 1890 PCGS MS64PL, the only 1890 Proof Like graded with amazing eye appeal

Liberty $2.5 Gold: 1852 PCGS MS63 CAC greenish-gold with flawless surfaces; 1855 PCGS MS62 CAC nice frosty luster with minimal abrasions

Indian $2.5 Gold: 1909 NGC MS65 CAC Fatty rare grade with fantastic orange-gold mint bloom

Indian $5 Gold: 1909 PCGS MS63 CAC well struck with bold luster; 1912 PCGS MS63 CAC rich orange-gold patina and satiny luster

Liberty $10 Gold: 1841 PCGS AU58+ rare early date with substantial eye appeal; 1855 NGC AU58 CAC old crusty gold piece with copper-gold toning

Liberty $20 Gold: 1899 PCGS MS64+ CAC with luster and eye appeal of full MS65, we just had to add this lovely example to inventory!.

 

Wrapping Up The Blog

At this point, let's call it a day in Baltimore and head to bed. I will be up at 6:00 am for breakfast followed by retrieving GFRC inventory from Baltimore Convention Center security just in time for the bourse opening at 8:00 am. Dealer booth setup arrives in less than twelve hours and best to secure a good nights sleep.

Thank-you for checking in at the Blog!

 

 

November 13, 2019

Substantial GFRC New Purchases Announcement

Greetings from Baltimore and welcome to the first of several Blog editions from the Whitman Baltimore show.

Tuesday's drive from northern New Jersey to Baltimore was uneventful other than experiencing a snowstorm on the Delaware Memorial bridge. While driving south on NJ I-295, I could see the temperature dropping from the high 30s down to 35F when reaching the New Jersey - Delaware state line. Upon arriving to the Delaware bridge, snows kicked in and what an experience crossing the highly elevated bridge in a snowstorm. Otherwise, the trip brought mostly rain and decreasing temperatures during the Baltimore noon time arrival.

Dan White and Rose Marie also made a Baltimore arrival at roughly the same time. The stage was set for an afternoon of pre-show buying appointments. I'm thrilled to report that Dan and I enjoyed a spectacular afternoon of buying as one of the three appointments featured a huge lot purchased directly from several collectors. This wholesale dealer has been in the industry for decades and has the ability to locate fresh old time deals. GFRC was fortunate to gain first shot. Of course, Tuesday would not have been complete without a buying session with my favorite wholesaler. That session also went well as this individual continues to grow his numismatic experience along with expanding inventory.

 

Tuesday Baltimore Pre-Show New Purchases

Following are the newly purchased coins for your consideration. All will be loaded into the COIN system and priced this coming afternoon. First Right of Refusals are being accepted. Asking price and cellphone images will be provided by end of day and your prompt pass/play decisions would be greatly appreciated. My intent is to have all new purchases loaded into display cases come Thursday morning at Whitman Baltimore show setup.

Indian 1c: 1906 NGC MS64 RB gem toning and eye appeal, reds and blues with Eagle Eye appproval

Seated 5c: 1872-S BW PCGS MS63 CAC gorgeous frost luster and gray-rose patina

Seated 10c: 1871-S F-102 PCGS AU55 CAC choice original with frosty luster and light gray patina, so rare at grade level and with CAC approval; 1875-CC IW F-108 PCGS EF45 CAC super original light gray with all diagnostics

Mercury 10c: 1916-S PCGS MS66 CAC super gem with burnt gold toning

Capped Bust 25c: 1820 Large 0 PCGS VF30 old album gun metal gray-blue patina, eye appeal for grade; 1831 Sm Letters PCGS AU55 gorgeous gray-rose with peripheral blues

Seated 25c: 1853 No Arrows PCGS AU53 crusty choice original and fresh to market, rare grade; 1853-O PCGS VF20 CAC crusty gray; 1862-S PCGS F15 CAC choice gray patina

Barber 25c: 1892 MS65 NGC Star a wonderful color coin with center rose and peripheral blues; 1897-O PCGS VF30 CAC crusty gray; 1916-D PCGS MS65 CAC an iridescent gem

Flowing Hair 50c: 1795 PCGS F15 CAC gem circulated cameo at grade;

Capped Bust 50c: 1832 Sm Letters PCGS AU55 super eye appeal with rich frosty luster and burnt gold peripheral toning; 1827 Curl Base 2 PCGS AU55 rich frosty luster and so original; 1838 RE superb eye appeal, frosty luster with peripheral gold

Seated 50c: 1852 PCGS MS62 key date light silver gray, frosty luster; 1861-O W-3 PCGS AU55 gem original at grade, lightly mirrored fields

Seated $1: 1859-S PCGS VF25 choice original crusty gray, wow!

Gold $1: 1853-O PCGS MS63 CAC choice original greenish-gold struck from eroded dies; 1874 PCGS MS64 CAC OGH rich frosty luster with orange-gold patina

Gold $2.5: 1843 PCGS EF45 CAC choice original greenish-gold

Gold $5: 1847 PCGS AU55 CAC OGH choice original greenish-gold and so nice

Gold $10: 1847-O PCGS EF45 CAC crusty greenish-gold

Early Commemorative 25c: 1893 Isabella NGC MS63 CAC Fatty gorgeous old time toning

Early Commemorative 50c: 1918 Illinois NGC MS65 lovely gold coloring; 1921 Alabama 2x2 PCGS MS64 OGH incredible colors and eye appeal; 1934 Boone NGC MS66 CAC beautifully toned; 1938 New Rochelle PCGS MS66+ peripheral holder paper gold

 

GFRC Consignment News

If the above new purchases were not enough news for a Wednesday morning, I'm pleased to announce that the Mountain View Collection consignment contacted me yesterday. He is ready to divest his Liberty Seated Quarter San Francisco collection as listed on the GFRC Open Set Registry. The set can be view by clicking here. All pieces will be sold except for the 1855-S which the consignor will probably never part with.....

We are presently discussing a transfer schedule to the GFRC office.

 

Wrapping Up The Blog

My apology but there is no time to prepare a Global Financial News segment this morning. A shower is in order along with breakfast before Dan and I head to the Baltimore Convention center for more pre-show buying.

Thanks for stopping by at the Blog and please check back on Thursday morning for yet more pre-show buying announcements.

 

 

 

 

November 12, 2019

Unexpected Daily Blog from the Road!

Greetings and welcome to another edition of the Blog, though from an unexpected location!

I've been watching southern Maine weather for several days given the forecasted winter storm. The weather forecast was early Tuesday morning become downright awful for driving to Baltimore. A snow storm was due to arrive during the overnight followed by freezing rain during early morning hours. A quick decision was made to get out of Dodge ahead of the storm. That we did and left Maine late Monday afternoon. We headed south, of course, to stay ahead of the plunging temperatures and freezing conditions. Therefore, today's Blog edition is being shared from a comfortable hotel in New Jersey.

The early Maine departure brings GFRC into Baltimore ahead of the prior schedule. After checking in, the balance of Tuesday will be spent on coin buying appointments. Dan White is also traveling earlier upon hearing of our news and will be joining me. After more phone calls, the GFRC appointment list has expanded making Tuesday the primary Baltimore pre-show buying event. More time will be available on Wednesday to visit with secondary dealers and also conduct COIN database loading of new purchases in a less hurried manner. The early Maine winter storm brought a silver lining.

Little has been prepared for today's edition. In that case, let's visit with Seth Godin and check in on his latest ramblings. There is always something to be learned or, at least worth reflecting upon.

 

Seth Godin's Blog - Busy is a choice, productive is a skill

Building the GFRC business has been a case study in raising personal productivity and efficiency across my work habits. Many wonder how a lone person can operate the GFRC business at current volumes plus write a blog each day. You might think I'm sick, but each day brings a study of how tasks are conducted and accomplished. I'm always searching for a shorter approach or shaving a few seconds off of a repeated task. Shaved seconds do add up with conducting the same tasks endless times. Also important is operating in an error free manner. Redos and correcting issues are a huge impact to efficiency. My imperative is to get each task done correctly the first time.

Busy is a choice, productive is a skill

Anyone can be busy. All you need to do to feel busy is to try to get two things done at once–or seek to beat a deadline that is stressing you out.

Productivity, on the other hand, has little to do with busy. Productivity requires bringing soft skills (real skills) to the table in service of the generous work you seek to do. Productivity is learned. And productivity takes guts. Once people are comfortable with discovering how to they get out of their own way, they can get a huge amount done.

Once you see what’s possible, it’s amazing how much you can contribute.

Learning is not the same as education, and busy is not the same as productive.

 

Global Financial News

World-wide markets are upbeat to start the day while commodities and the long bond interest rate continue to reflect a risk off environment.

President Trump is giving a trade speech today at the Economic Club of New York. This Seeking Alpha headlines captures the significance for global equity markets.

Awaiting a key speech from President Trump at the Economic Club of New York, U.S. stock index futures are holding steady, while global stocks trade firmly in positive territory. "You can expect the president to highlight how his policies of lower taxes, deregulation, and fair and reciprocal trade have supported the longest economic recovery in U.S. history with record low unemployment, rising wages, and soaring consumer confidence," White House spokesman Judd Deere said, without giving further details. Markets will still be hanging on to every word that could reference trade talks, and any suggestion that tariffs could be lifted or delayed.

Physical gold is dropped to $1453/oz. Writing today's Blog, I took a quick look at gold's technical charts. The breakout and trending above the 200 day moving average on the 5 year chart is still intact.

The U.S. 10 Year long bond interest rate inched up to 1.95% on continued economic optimism. Crude oil is quoting a tad over $57/bbl while $8736 will buy you a Bitcoin.

Here is an interesting headlines concerning the ongoing online video streaming war between Netflix, HBO, Apple and now, Disney. I know little about this topic as you won't find me sitting in front of a television or laptop watching movies.

Disney+ has gone live, challenging the likes of Netflix, Apple TV Plus and HBO Max with a low price of $6.99/month (or $69.99/year). It'll also offer a triple bundle - including Hulu and ESPN Plus - for $12.99/month. Waves were already made after the Mouse House gave Verizon customers a free year of the service, as well as broadening device support to nearly every platform: Apple OS, Android, Fire TV, Roku, etc. Disney has called the service - which will be the exclusive home of Star Wars, Marvel and Pixar - the future of the company, and is building out a slate of original shows and movies based on those brands like The Mandalorian.

 

Wrapping Up The Blog

Thank-you for checking in at the Blog on a Tuesday. After the remaining drive to Baltimore and checking in, GFRC will be on the hunt for new inventory. How I love the thrill of the hunt, especially when the pursuit can be conducted in a less pressured manner. Who knows, GFRC may change its Whitman Baltimore pre-show habits and add a day to the schedule for more comprehensive buying activities.

Please check back on Wednesday morning for a new purchase summary and first shot.

See you tomorrow at the Blog!

 

 

 

November 11, 2019

Whitman Baltimore Show Week Arrives!

Greetings and welcome to the Blog on Veterans Day. A sincere thank-you goes out to the men and women of the Armed Services for protecting our country; past, present and future.

Since Veterans Day is a federal holiday, the United States Postal Service and banks are closed for observance. The GFRC shipping queue is about empty as nearly all orders have been shipped ahead. Orders that arrived on Sunday will be shipped on Monday November 18th.

Today brings a full day of packing for the Winter Whitman Baltimore show. Though the calendar reads mid November, Baltimore will be experiencing freezing overnight conditions from Tuesday through Saturday. I'm sure that everyone is aware of the below average temperatures that will be gripping New England and the Mid-Atlantic states this week. Icing will be an issue in Baltimore from Tuesday evening into Wednesday morning.

GFRC will be active at this year's Baltimore pre-show event along with insourcing the latest round of Osprey United States gold. Let's remember that the Winter FUN show, in sunny Orlando Florida, is only seven weeks away! FUN is a huge numismatic industry event with all dealers striving to attend with well rounded fresh inventories for those who decend on the show. A few smaller GFRC consignments have been committed during the past week. However, I'm still on the hunt for one to two major consignments consisting of early silver type and/or U.S gold. I'm all ears as to what might be under consideration.

For the final time, following is the GFRC location on the Whitman bourse floor. GFRC will be exhibiting 12 cases of broad based inventory and the largest display to date for the business. Nearly all GFRC inventory, other than raw coins, will be available for inspection and purchase. The inventory will range from early copper, all Draped and Capped Bust denominations, plus the signature Liberty Seated denominations, and United States gold. United States gold sales have dramatically increased in the past two years with two full cases of quality numismatic gold being on display at Baltimore. W.David Perkins Numismatics while be sharing the balance of Booth 818 as has been done for years. It will be great to be back in Baltimore and operating from a large display footprint.

GFRC Booth 818 - Whitman Baltimore Show

 

Fast Paced Offerings of Baltimore New Purchases

Since Dan and I plan to be active buyers at the Tuesday and Wednesday pre-show, plans are being made to quickly insource new purchases on Wednesday evening into the COIN system and have ready for inventory display starting Thursday morning. All new purchases will be announced on Wednesday and Thursday morning at the Daily Blog. I will be happy to quote asking prices along with emailing cellphone images of the new purchases towards solid purchase commitments.

At this point, I have a mental library of GFRC client collections and their want lists. These mental want lists will be used to source new inventory on Tuesday/Wednesday along with selectively expanding CAC approved offerings. Once new purchases are communicated, all that I ask is for customers to be sensitive for placing fresh purchases on hold. New purchases placed on hold will not be displayed for sale at the Baltimore show.

 

LSCC Regional Meeting and Club Dinner

The traditional LSCC regional meeting takes places on Friday at 9:00 am in Room 301. I spoke with Len Augsburger yesterday concerning our agenda. This meeting will be a tad different. The usual attendees photo and introductions will open the meeting followed by Len Augsburger sharing his thoughts about the club's leadership transition that is underway. The meeting will wrap up with Gerry Fortin taking the floor to discuss the LSCC's transition from the McCloskey era to the modern digital era starting back in 2013. This will be a spontaneous sharing of my presidency for the past six years without speaker notes. I also plan to hint at what is upcoming as the next Fortin numismatic initiative in the coming five years.

The LSCC club dinner will be held at 6:30 pm on Thursday evening at the Pratt Street Ale House. This venue is adjacent to the Days Inn and easy to locate. The dinner is non-hosted which means everyone dines via separate checks. Unfortunately, Len Augsburger is tied up in Washington DC on Thursday evening and will not attend. LSCC members will be stuck with me in attendance as club President for one last time....

 

Fresh GFRC Consignment Wanted - Looking into 2020

Yes, I'm sure that Blog readers are well aware of my desire to source fresh consignments. I've made this point on multiple occasions.

Please remember that it is best to sell duplicates and divest a complete collection in a strong market environment. The market for Liberty Seated coinage and all coins CAC approved is currently robust. The AU58 grade level, with CAC approval, is experiencing huge demand with strong premiums. GFRC is in need of fresh Liberty Seated quarter, half dollar and dollar inventories. GFRC is also expanding its presence in the Barber coinage arena and needs large quantities of Barber dimes and halves to populate those price lists.

Once again, if you are holding a substantial amount of duplicates or are no longer excited with certain portions of your numismatic holdings, now is the time to prune or divest. I'm expecting a robust first half of 2020 for numismatic sales. Come September 2020 and the forthcoming election cycle, market unpredictability could set in. I'm expecting, and will forecast weak sales for fourth quarter 2020 due to national elections. This election cycle will be extremely contentious and capturing everyone's attention. It is best to reposition your numismatic holdings during the first half of 2020. GFRC hopes to be an enabler of those activities.

 

Global Financial News

Global equity market euphoria has been stopped in its tracks due to developments in Hong Kong. If appears that the mainland crack-down in underway. Market futures are red with large drops anticipated in Asian markets. Let's check in on the Seeking Alpha headline before moving further with this segment.

Traders are closely following the events in Hong Kong, where the Hang Seng Index lost almost 3% after the city's start-of-week commute descended into turmoil. A day after three pro-democracy lawmakers were arrested, police fired gunshots at protesters as they tried to block roads and delay trains, sending one man to the hospital in critical condition. Dow futures also fell 115 points on the news in the U.S., where the bond market is closed Monday due to Veterans Day.

Otherwise, commodities and the U.S. long bond are priced for global harmony. Gold prices have pulled back to $1467/oz during the past few sessions. Bitcoin has also dropped to $8685/coin. Crude oil is flat at $56.36. Most telling is the 10 Year U.S. Treasury yield that has increased to 1.95%. Increasing yield is associated with waning demand.

Here is a headline to appreciate the size of the Chinese market. A significant part of the Chinese population is single with Alibaba leveraging this fact with Single's Day on November 11!

The event regularly racks up bigger sales than Black Friday and Cyber Monday combined, but Alibaba already topped last year's record in 16.5 hours with gross merchandise value of 213.5B yuan ($30.5B). That's equal to 87% of Amazon's online store sales in its latest quarter, and the figure is set to rise further. Held back by a slowing overall e-commerce industry and the trade war, sales growth for the full 24-hour event is still likely to fall short of last year's 27%, according to analysts. Alibaba first latched on to Singles' Day - symbolized by the four lonely 1s of 11/11 - in 2009, and has transformed the holiday into the world's biggest online sales event.

 

Wrapping Up The Blog

There is little else to share at this point. My attention shifts to wrapping up Redbook pricing recommendations followed by packing GFRC inventory for Tuesday's early morning departure to Baltimore.

New online and phone orders will be pulled from inventory once unloaded at the Baltimore show. Please remember that order shipments will resume on Monday, November 18.

In tomorrow's Blog, it will be time to share the schedule for the upcoming Florida migration and Black Friday discounting instructions. How time flies.....

Thank-you for visiting with me on a Monday and please stay close to the Daily Blog during the next 72 hours for Baltimore new purchase announcements.

 

 

 

 

November 10, 2019

What Inspired You to Get into Coin Collecting Part 2?

and

West Texas Collection Better Dates

Greetings and welcome to the Blog on a Sunday morning. Whitman Baltimore show preparations begin today.

Saturday brought another busy day. The last leaf cleaning event of the year took place with the landscaping ready for the first snow of the season. Evening time saw me sitting in the GFRC office working on Redbook pricing updates. Trade dollars were reviewed with many prices seeing reductions. As Jeff Garret provides in his instructions, the Redbook prices are for an average coin at the grade. CAC prices are elevated and should not be considered when formulating Redbook prices. There is no question that Redbook pricing recommendations are a subjective undertaking. As a contributor, I'm giving it my best for suggesting average coin price estimates.

 

What Inspired You to Get into Coin Collecting Part 2?

In Saturday's Blog, my response to the Oregon Beaver questions focused on collecting during teenager years with a miniscule budget. The narrative continues today and takes us to late 1987.

A period of seventeen years passes without paying attention to the numismatic hobby. My life is focused on building a career in the semiconductor industry, rock music, marriage and the birth of our two children. A transition from IBM (Dutchess County, New York) to Fairchild Semiconductor (Southern Maine) takes place along with the construction of a passive solar, super insulated home in the Maine countryside.

Christmas 1987 arrives. At Diane's annual family party on Christmas Eve, gifts are opened. Diane's mother has a special gift for each of her five children. The package is opened to reveal a roll of VF-AU Morgan dollars. Diane views the contents with some bewilderment and passed the package to me. How super cool was my take on the situation. I immediately went through the roll checking every Morgan for grade and mintmarks. Of course, these were mass marketed on QVC but still a really cool gift. That gift was the spark that brought me back into numismatics.

During the first half of 1988, a decision is made to build a complete set of Morgan dollars in AU/MS grade. I start attending local coin shows and coin club meetings. My long ago Coin World subscription is restarted. Two Whitman bookshelf albums are purchased. Maine Gold & Silver, near the Fairchild office, becomes a lunch time destination. Then the realization set in. Morgan dollars are constantly seen with many being overgraded. There is no challenge to collecting the series other than raising funds to purchase every required date. Within six months, I was bored; there was no thrill of the hunt associated with Morgan dollars.

July 1988 arrives. One evening, I'm relaxing at home and start reviewing the Redbook. I wanted out of Morgan dollars and decided to research United States coinage for a more exciting collecting objective. Since enjoying reading Civil War history and striving to collect historically significant coinage, the various Liberty Seated coinage denominations were carefully analyzed as potential targets. By process of elimination, it was decided to pursue Liberty Seated dimes at the Fine 12 grade level based on perceived availability (mintages), current prices and my targeted budget. Other denominations were easily eliminated for multiple reasons. The Seated half dime series was too short and the coins too small. Liberty Seated halves were too expensive for my budget given the 1878-S stopper. Liberty Seated quarters appeared to be much too challenging due to low mintages and expensive early Carson City dates. Seated dollar were never a consideration after my experience with Morgan dollars. The decision was made; my new numismatic pursuit would be Liberty Seated dimes!

Then came the life changing decision....

Checking Coin World for Liberty Seated dimes, I noted an advertisement for a reference book written by Kamal Ahwash. Why not purchase a book on the Liberty Seated dime series before spending monies? That I did. The Ahwash Encyclopedia arrived several weeks later with a huge sense of excitement. Opening the book revealed page upon page of high grade Liberty Seated dimes with varying designs, mintmark sizes and cracked dies. This was super cool stuff! Finally, I had found a long term challenge; collecting the varieties in the Ahwash book as part of the overall Liberty Seated dime pursuit. How could I learn more about Liberty Seated dime die varieties? Local shows and coin club meetings had few Liberty Seated dimes available. I was not excited about doing mail order buying without seeing coin images. Let's remember this is 1988 with the Internet in its infancy.

Next came two consecutive decisions that cemented my fate...

I walked into Maine Gold & Silver during a usual lunch time visit and announced to owner Bob Levi, that I was building a complete set of Liberty Seated dimes. He just smiled and went into the back room. Out comes Bob with a 2x2 box containing his Liberty Seated dime collection. Each coin is housed in old time yellow paper envelopes with descriptions. My timing was perfect as Bob was breaking up and selling his Redbook collection. I mentioned the Kam Ahwash book and Bob again smiled. Many of Bob's coins had been purchased from Kam. My source for quality Liberty Seated dimes had been located!

The other faithful step was writing a letter to John McCloskey expressing my desire to join the Liberty Seated Collectors Club as I was building a set of Liberty Seated dimes. I had seen an ad somewhere for the club and decided this was an appropriate step to meet other serious collectors. John McCloskey replied within a few weeks and paired me with a Liberty Seated dime collector/researcher named Brian Greer. The narrative will conclude at this point; the rest is well known history.

 

Better Date Silver Pieces - West Texas Collection

Following is another lot of raw coins from the West Texas Collection. Surfaces range from Original to Cleaned and will be accurately described once reaching the price list by evening time. These offerings are ideal for Dansco or Whitman bookshelf album collectors.

Better Raw Dates - West Texas Collection

1805 B-3 Raw VG08 Cleaned 25C

   1815 B-1 Raw VG10 25C                                    1862-S Raw F12 25C                                     1883 Raw VF35 25C    

            

                    1843 Raw VF35 50C                                 1865-S WB-8 Raw EF40 50C               1866-S Motto WB-7 Raw EF40 Cleaned 50C

            

 

Wrapping Up The Blog

My goodness, it is already 8:45 am and best to hit the upload button. Next on the day's agenda is a health walk followed by reviewing Redbook pricing for Liberty Seated halves. Those two activities will take me to lunch time. Afterward, attention shifts to invoicing orders to be picked up at the Baltimore show.

There is not question that I will be in the GFRC office for nearly the entire day. Selling coins is number one priorty. Please call or email to reserve your purchases prior to inventory transport to Baltimore on Tuesday.

Thanks for stopping by at the Blog.

 

 

 

November 9, 2019

What Inspired You to Get into Coin Collecting?

Greetings on a peaceful Saturday morning and welcome to a weekend Blog edition.

Winter temperatures have arrived as the outdoor thermometer reads 20F while preparing coffee and breakfast. Skies are clear blue with a sunny day forecasted. Instead of more photography at the noon time hour, my plans are a final round of leaf blowing and wrapping delicate shrubs. Snowstorms are a distinct possibility in the upcoming days given the well below normal temperatures.

There is absolutely nothing prepared for today's Blog edition after a much needed Friday evening break from the GFRC office. Instead of processing more images, there was a loud calling from the basement sound room and I gladly succumbed. Roger Waters, the musical genius within Pink Floyd, was Friday evening's featured artist. His Amused to Death album is currently being enjoyed and analyzed for its cynical view of humanity.

Given the lack of prepared content, let's take a question from Oregon Beaver; what inspired you to get into coin collecting?

 

What Inspired You to Get into Coin Collecting?

The response is rather simple; a thirst for knowledge and a goal orientated personality.

My numismatic journey started when 12 years old. Life was not overly exciting living in southern Maine during the summer time. There was no information technology in those day other than my little transistor radio and the family black and white TV that could only be accessed as a family during evening hours. No one was allowed in the living room unless Mother approved and she did not. Since growing up without a family car, movement was either walking or on a bike. My explorations moved from the small neighborhood to books towards keeping the mind engaged. I was an avid reader and one day stumbled upon a Redbook at the downtown Lewiston library. I become fascinated with the United States coin illustrations and became engaged. Next step was the purchase of a coin magazine for additional reading followed by my first Whitman blue folder for Lincoln pennies.

Filling the Whitman folder became a new calling in a young teenage's life. Funds were limited to what could be raised by picking up discarded glass bottles on the local horse racing fairgrounds with my grand-father. He owned a car and would take me there on early mornings to retrieve bottles for generating collecting monies. At two to three cents per bottle, it took a number of sessions to raise working capital. Once I had accumulated several dollars, collecting shifted to bank roll inspections. There were two bank offices within walking distance of my home. These were visited frequently to exchange a dollar or two of searched Lincoln rolls for "fresh" rolls. Remember that this is the 1968 timeframe. I quickly filled the Lincoln Memorial cent Whitman folder and went to work on the earlier dates. Lincolns dated in the 1930 and 1940s were commonplace during 1868 along with well worn earlier dates. I remember the 1955-S being so damn elusive along with a few other San Francisco dates. Locating a 1909 VDB in change would bring a happy dance.

Eventually, Jefferson and Buffalo nickels were added to the collection along with a subscription to Coin World. At the age of 13, I started working for my grand-father's lawn mowing business. We mowed "rich people's" lawns during evenings and on Saturday mornings since my grand-father worked at a local shoe shop during the daytime hours. Collecting silver coins was out of the question given the face value and limited collecting capital. I stayed with coin collecting until the age of 15. At that point, girls, rock music and stereo equipment were much more stimulating endeavors than searching coin rolls. Mother put the coin collection away in the home attic for safe keeping. Those coins remained there until I was 32.

Christmas 1987 arrives. My life has progressed to the point of being an engineering manager at Fairchild Semiconductor leading the development of software tools for increasing end of line production yields. My mission was to isolate factory producing defects and eliminate those towards 100% yielding semiconductor wafers. Matt is four years old while Renee had recently arrived.

I'll finish the rest of the story on Sunday morning.

 

Last Shipping Day Until After Baltimore Show

It dawned on me yesterday that Monday is Veterans Day. USPS is closed for observance. Since driving to Baltimore on Tuesday, this leaves today as the only shipping day until Monday November 18.

I'll do my best to get orders shipped before noon time including Quick Ships for reliable customers.

 

Consignments Wanted!

A reminder that GFRC is soliciting consignments for the December timeframe. The busy 2020 numismatic season quickly launches with the Winter FUN show in early January.

I've noticed that select dealers and all auction houses are aggressively soliciting consignments. One auction house approached me on Thursday to consign a portion of GFRC's Liberty Seated inventory but without taking the time to learn of the GFRC business model. The contact was not impressive, rather an aggressive attempt to locate auction items.

With a robust economy, demand for top quality coins is outstripping supply. Once quality coins move into collections, they remain in strong hands for extended periods. Let's face it, the supply of strictly original and eye appealing Liberty Seated coinage is limited. As financially capable collectors enter the hobby and absorb the top coins, the supply diminishes leaving average coins in the market place. It takes a collector's passing or the redirection of collecting objectives to bring those top quality coins back into the market.

I can't stress this point enough! If you are holding duplicates within a collection, please consider returning those back to the market for other collectors to absorb and enjoy. I'm doing my part with the many Liberty Seated Dime die variety duplicates that have been accumulated since 1989. At this time, GFRC needs more Liberty Seated quarters, halves and dollars to support demand.

Please call or email to schedule an appointment to discuss a potential divestment.

 

Wrapping Up The Blog

It is time to bring closure to today's edition and immediately move into the packing and shipping department. Thank-you for visiting on a Saturday morning.

Now is the time to pull the trigger on that special coin you've been eyeing on the GFRC price list since inventory is being packed on Sunday for the Baltimore show. I have a feeling that the Baltimore show will be a robust event as long as the weather allows everyone to attend.

Please remember that GFRC is located at Booth 818 at the Baltimore show and will have 12 cases of inventory on display.

See you Sunday morning at the Blog.

 

 

 

 

November 8, 2019

A Memorable Gobrecth Journal Edition Arrives

and

More Dr. Peterson Liberty Seated Half Dimes Die Varieties

Greetings on a chilly southern Maine morning and welcome to the Blog.

Outdoor homestead temperature is a cool 26F with bright sunny skies to start a Friday. After the weather people forecasted 1-3 inches of snowfall associated with Thursday storm, I see patches of white consistent with a morning frost in the front yard. Yesterday's weather event turned out to be a non event which is just fine by me. The next potential for snowfall is forecasted for Monday evening into Tuesday morning. That forecast is disconcerning since the GFRC mobile must depart early Tuesday morning for Baltimore.

The coming weekend brings a final leaf blowing job and wrapping sensitive shrubs with burlap. Yes, early winter-like conditions have arrived to southern Maine while the countdown for the Florida migration is underway. Shortly, I will post the usual schedule for transitioning order payments from the Maine to Florida office address. The annual GFRC Black Friday Sale is less than three weeks away. November is turning out to be a very busy month. Please keep reading the Blog for daily updates.

 

A Memorable Gobrecth Journal Edition Arrives

Wednesday brought the arrival of Gobrecth Journal Issue #136 to my mailbox. Editor Bill Bugert has done it again with exceptional layout and content. Bill is always humble and stresses that the Journal's success is due to content. As one of my last acts as Liberty Seated Collectors Club President, I would like to respectfully disagree with Bill. The Gobrecht Journal format and content have undergone a dramatic transition since 2014 while under Bill's tenure as editor. Success breeds more success and this is the case for the Journal. Bill has transformed the Journal from the small sized black and white McCloskey era publication to a magazine sized full color publication. The content backlog is ever growing as numismatic authors are proud to be published in the modern Gobrecht Journal.

Congratulation to Editor Bill Bugert and the host of authors that are published within Gobrecth Journal Issue #136.

Gobrecht Journal Issue #136 is personally bittersweet. It is the final edition while being the steward of the Liberty Seated Collectors Club. My tenure as President is complete come the Whitman Baltimore regional meeting being held next Friday, November 15. The Liberty Seated Collectors Club has seen a dramatic transformation since 2014. Rather than rambling on within this Blog edition, my final President's Message was photographed and is presented next. Simply click on the below image to download a high resolution image that is suitable for reading. Most Blog readers, who are LSCC members, have already received their Gobrecht Journal Issue #136. For those who are not LSCC members, this is your chance to capture my closing thought as President of one of the finest numismatic non-profits in existence.

At the November 15 LSCC regional meeting, I plan to take the floor and discuss the club's transformation that took place from 2013 until today. The Liberty Seated Collectors Club is well recognized and the envy of others in the numismatic hobby. The transformation was not by chance. Rather, the transformation was carefully planned starting in 2013 followed by building a leadership team that included the finest non-dealer numismatists in the hobby. Please read on....

 

What is Gerry Fortin Planning as His Next Numismatic Adventure?

This is an excellent question. I've already made a decision on my next numismatic adventure towards influencing the industry and collector involvement. Please plan to attend the Liberty Seated Collectors Club regional meeting on Friday, November 15 at 9:00 am in Room 301 to learn of my future plans.

 

Another Lot of Dr. Peterson Liberty Seated Half Dime Varieties

There is no question that the Dr. Glenn Peterson Liberty Seated half dime collection contains a bounty of die varieties. Thanks to the attribution support from Clint Cummings, small lots are being brought to market with current day attributions. Clint Cummins' research website for Liberty Seated half dime die varieties can be accessed by clicking here.

Following is an important lot of earlier date die varieties to consider. There are some classic die varieties in desirable collector grades within this lot. Shattered dies are always so cool with this lot bringing several popular specimens to market. Current plan is to have this lot posted to the GFRC price list by end of day.

Early Date Dr. Peterson Liberty Seated Half Dime Varieties

Current Dr. Peterson Attributions - Cummins Attribution Verifications with Updates ( )

  1843 V-4 (V-2a) Classic Y Cracked Reverse Raw AU58 5C   

   1840-O ND V-3 Raw EF45 5C                         1840-O ND V-9 Raw VF30 5C                          1841 V-2 Raw EF45+ 5C   

            

            1841-O V-6 R7 Raw F12 5C                              1842 V-1 Raw AU50 5C                      1842 V-1a Shattered Rev Raw VF30 5C   

            

           1842 V-3 Raw F15 5C                       1843 V-5 (V-7a) Shattered Rev Raw AU50 5C                1844 Doubled Date V-3 AU50 5C   

            

      1845 V-3 Raw AU55 5C                     1845 V-5 Repunched Date Raw EF45 5C                    1848/7/6 V-7 Raw VF25 5C   

            

 

Global Financial News

Equity markets are forecasted to open down after Thursday's movement into record territory. Some analysts are calling the present round of record breaking highs as a "Melt-Up" where traders don't want to be left behind in a significant rally. Hot money is being thrown at equities. Conversely, any bad news could take the floor out from under the present rally. Seeking Alpha captures the current situation with this headline.

Futures are inching down after yesterday gains, when the Dow and S&P 500 notched record closing highs, as traders wait for the next catalyst to move stocks higher. "Any kind of uncertainty there, with the market at all-time highs, and it's easy for traders and institutions to press the sell button and take some money off the table," said Alan Lancz, president of investment advisory Alan B. Lancz & Associates. Reports have suggested that the White House's plan to roll back China tariffs faces internal opposition, though President Trump said the two sides had come to a substantial "Phase One" trade deal on IP, financial services and big agricultural purchases.

Commodities and the long bond interest rate are also reacting as money moves from safe havens to the current equity rally. Gold took a substantial hit and is now quoting at $1465/oz. The 10 Year U.S. Treasury yield has increased to 1.92% as demand wanes. Crude oil remains in its trading range at $56.10/bbl while Bitcoin dropped to $9034/coin.

The Japanesse are once again moving towards looser fiscal policy and economic stimulus. The problem is that overseas money generation in Japan and Europe finds its way back into the United States equity market and drives up prices.

"To speed up our recovery [from natural disasters], deal with risks from abroad and accelerate productivity growth, we are formulating an economic plan along the lines of a 15-month budget," said Yoshihide Suga, Japan's chief cabinet secretary. It would be Japan's first economic stimulus package since 2016. The BOJ has already cut overnight interest rates to -0.1% and purchased trillions of yen worth of government bonds, but the flat yield curve now makes it hard for banks and insurers to turn a profit.

 

Wrapping Up The Blog

Whew.....

Another Blog edition is wrapped up and published a bit after 8:00 am ET. Thank-you for stopping by and checking in on the day's ramblings.

There is no question that I will be in the GFRC office the entire day. Morning brings more shipping followed by posting the Peterson half dimes to the price list. Evening brings a review of Redbook Liberty Seated dime and half dollar pricing for Jeff Garrett. As an official Redbook pricing contributor, there is annual responsibilities to monitor and update pricing for Liberty Seated coinage.

As always, there are GFRC consignors hoping to sell their coins for raising capital towards additional upgrading. Please consider a purchase today as I will gladly entertain your order via email, phone or text message.

See you tomorrow at the Blog.