Daily Blog Greatest Hits

Gerry's Daily Blog

Featured Coins of the Day

1890 Unlisted PCGS MS66 CAC 10C
Newtown $1100


1853-D NGC AU50 CAC G$1
$4950


1911-D PCGS MS64 CAC G$20
$2875


1916-D PCGS MS65 CAC 25C
$875


1904 PCGS MS66+ CAC G$2.5
$2100


1857-S PCGS AU55 CAC G$1
$2250HOLD


 

 

August 2, 2021

Cool Summer FUN New Purchases and More!

Help with Descriptions: A Luster Scale

and

Tenafly Auction Bidding Reminders...

 

 

 

Greetings once again and welcome to the Blog. Another Monday morning and work week is upon us.

Len Augsburger has asked that I participate in an upcoming Newman Portal Symposium scheduled for October 13 - 15. This I have agreed to do and suggested a presentation entitled, "When It Gets Serious - Proven Collecting Habits". One of the discussion topics will be where to collect on the value curve.

During a routine check of Seth Godin's blogposts, the following commentary was located. Godin's valuing insights also apply to numismatic purchases. Note the point on the value:cost graph marked as "2". This is the knee of the value curve and the ideal location for collecting purchases. Many GFRC clients have learned and migrated to this value point. Collectors DO NOT want to be collecting anywhere near the point marked "1". Let's hear Godin's explanation.

 

Seth Godin's Blogpost: In between a total loss and endless expense

How much should you spend?

For just about everything, there’s level 1 (too cheap, total loss, all money and effort less than 1 is wasted) and there’s level 2 (spending ever more money to get not much more than investing at level 2 would have created.)

This rule applies to copyediting, to used cars, to the building of bridges and everything in between.

What’s the point of underspending on a software project? You merely end up with nothing but frustration.

And the gold-plated RFQ that comes from deep within the bureaucracy is designed to avoid finger-pointing and blame, not to actually buy something that gets us a return–that might lead to even more waste.

Better to pay a little more than you should and get something you can use than pay too little and end up with nothing at all. Better as well to avoid paying a ridiculous amount for something that never satisfies–better to live without until you learn to see the curve.

Learning to see the curve–that’s the benefit of deliberate experience, well earned.

 

Cool Summer FUN New Purchases and More!

Here we are at the beginning of August with more Summer FUN new purchases being rolled out. If you remember back in the spring time frame, I made it clear that time would be taken from the GFRC office to enjoy other aspects of life. This is taking place without a lot of fanfare and office closure days. GFRC did not attend the past week's Bay State coin show in Marlborough MA. Instead, time was allocated to the back acreage project and still listing a steady, though smaller flow of new purchases.

Today's edition showcases three cool coins. The 1860 Seated half is another handpicked Osprey Collection gem. This piece typifies how original Seated dollars should look, The 1853 No Arrow half dime brings monster eye appeal and low CAC populations. Finally, the 1815/2 Capped Bust half illustrates old time coin gray toning and value at the certified grade. The 1860 $1 and 1853 No Arrows H10c are posted to the price list. The 1815/2 50c will be priced at $4750.

 

Cool Summer FUN New Purchases and More!

1860 PCGS MS64+ CAC $1

1853 No Arrows PCGS AU58 CAC H10C                                            1815/2 PCGS VF35 50C              

    

 

Help with GFRC Descriptions: A Luster Scale

During the weekend, a client asked a question concerning my usage of luster descriptions. The question brought a response with a luster description scale. Following is my perception of luster and how surface conditions will be found from mirrored (Proof) to heavily textured with with metal flow lines (Satiny).

Proof like

Semi-proof like

Steely Reflective

Steely

Frosted

Satiny

This scale applies to both silver and gold coinage. Hopefully, this scale will be helpful when reading GFRC descriptions.

 

Tenafly Auction Bidding Reminders...

Sunday brought considerable bidding for the Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale. As of this morning, nearly half of the offered lots have bids totaling nearly $24,000. Some competitive bidding was also apparent. This is a heartening development during the early stage of an online auction. Now we enter the quiet period through the Thursday time-frame. Friday and Saturday will see the final bidding as auction closure approaches.

A new client has appeared at the sale with the placement of multiple maximum bids. The high bid counts for the 1842-O Large Date and 1853 No Arrows quarters were a result of this person bidding against himself. His multiple bids have been removed by Matt Yamatin during the overnight hours leaving his final highest bid as the bid of record.

This is a reminder that the GFRC Online Auctions platform is simple to use. Each bid is a unique bidding event as we do not associate each bid with a client's name or identification in the COIN system. If you place two consecutive bids on a coin, your second bid will be treated as a fresh bid against the initial bid. No one wishes to be bidding against themselves.

There should be no trepidation with placing a significant maximum bid. The COIN system automatically bids fresh bids against your maximum bid until no longer winning.

 

Global Financial News

After setting next records in July, U.S. equity markets are poised to open on an upbeat note during the first trading day of August. We find positive futures for all global markets.

In Asia, Japan +1.8%. Hong Kong +0.9%. China +2%. India +0.7%.

In Europe, at midday, London +0.9%. Paris +0.8%. Frankfurt +0.1%.

Futures at 6:20, Dow +0.5%. S&P +0.6%. NASDAQ +0.6%.

Crude oil and paper gold have pulled back slightly from last week's increases. WTI crude is priced at $72.77/bbl while $1813 will buy you an ounce of paper gold. Physical gold will cost you $2000+.

The all important 10 Year Treasury bond yield has dropped slightly to 1.23%.

 

Wrapping Up The Blog

It is raining again in southern Maine. My plans are for a full day in the GFRC office with a substantial amount of morning shipping.

There is little else to share at this point, so let's wrap up this Blog edition.

Thanks for stopping by. Please be well!

 

 

 

August 1, 2021

Burn Baby Burn

and

Active Tenafly's CAC Approved Liberty Seated Quarter Set Sale Kick-off Bidding

 

Greetings on the first day of August and welcome to another Blog edition.

The final day of July brought cool winds from the north and a sense that the Autumn season had already arrived. After photographing the balance of the recent Sooner and New Jersey Collection consignments and a quick lunch, I was off to the Raymond firehouse for a burning permit. With permit in hand, afternoon plans were cemented.

When burning substantial amounts of branches and stumps, the JD2025R front grapple is the ideal implement. Off came the front loader followed by installing the grapple. Next came the greasing of all tractor fittings including the backhoe. Now Johnny was ready for an afternoon of brush burning from the initial 2020 Ledge Hill Trails clearing effort. Out came two 5 gallon cans of kerosene and baby, did we burn.

By 5:30 PM, two large brush piles were gone along with other random downed trees. The north-west wind direction was perfect for the event. Smoke was blown downhill into the acreage and not disturbing Diane in the homestead and our neighbors. The residual hot coals was carefully banked so I could walk away with confidence. The Ledge Hill Trails project appears much cleaner this morning with the ugly brush piles gone. Remaining are six stacked log piles that also need to find a home as firewood. I called Kevin (Diane former business partner) to help remove another trailer load of logs. He was all in and arrives at 8:00 AM for a pickup.

When walking into the house at 6:15 PM, Diane was taken back with my dirty appearance. A problematic grapple fitting had to be hammered opened resulting in hydraulic fluid spraying on my T-shirt. I suffered a cut, from a sharp branch, on one arm with dried blood evident. There was chain saw wood chips on my pants along with a layer of wholesome dirt. I smiled at Diane (she is a city girl) and indicated this is how a country boy looks after a busy day on the land. My clothes promptly went into the washing machine followed by a shower. Afterwards, its was tequila time on the back deck while grilling cod fish for dinner. The day ended in the sound room as I was too tired to do much else. Tenafly was emailed and placed in charge of monitoring his auction's opening at 9:00 PM.

I'm sorry as today's edition lacks a new purchases gallery. Saturday's weather was ideal for brush burning and best to take advantage of the favorable conditions as they appear. I promise to have a fresh gallery available by end of today to tempt those that require a new purchases fix.

 

Active Tenafly's CAC Approved Liberty Seated Quarter Set Sale Kick-off Bidding

The initial installment of the Tenafly Collection auction launched on schedule with initial bidding quickly kicking in. Of the 54 offered lots, we find 15 lots having met reserves this morning totaling roughly $15,000 in value. Eye appeal appears to be trumping rarity but that could change at any moment during the coming days. Following are four challenging dates that remain unattached, at least for the time being.

 

1843-O Large O PCGS F15 CAC 25C                                                1849-O PCGS F12 CAC 25C    

    

1856-S PCGS VF35 CAC 25C                                                       1857-S PCGS EF40 CAC 25C

    

 

Today brings a second day of Tenafly bidding followed by the traditional quiet period through this coming Thursday. There are many unattached lots with fair opening bid prices that should garner your attention. A quick review indicates these two lots being compelling values.

 

           1848 PCGS EF45 CAC 25C                                              1855 Arrows PCGS AU55 Gold CAC 25C

    

 

Wrapping Up The Blog

Time moves along quickly as the laptop clock indicates 7:25 AM. Kevin arrives in 30 minutes with his Toyota Tacoma and trailer for a wood log pickup. It is best to end the Blog at this point. The JD2025R must be fueled and positioned in the back acreage to kick-off another busy day.

Yes, I will be in the GFRC office after the wood pick-up as there is so much to get done. August is upon us along with a new monthly sales forecast that must be met. Please don't be bashful about email or phone call purchase inquiries during the afternoon hours.

By the way, GFRC set a new monthly sales record in July. More on that topic is a future Blog edition.

Thank-you for making the Daily Blog a regular part of a day's numismatic reading. Be well!

 

 

 

 

July 31, 2021

Tenafly's CAC Approved Liberty Seated Quarter Set Sale - Part 1 Bidding Opens 9:00 PM

and

Summer FUN U.S. Gold New Purchases!

 

 

Greetings and welcome to the final Daily Blog edition of July 2021. Your ongoing patronage is appreciated.

The month of July went by much too quickly given the Summer FUN show and four day road trip, the Branch Mint Collection auction, and kicking off the first installment of the Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale. The final day of July finds me loading a host of Summer FUN U.S. gold purchases to the price list, just a bit delayed due to workload.

The back acreage project continues to garner my attention as therapy from the ongoing GFRC business demands. Working one to two hours per day on the Ledge Hill Trails project is sufficient for that ideal balance between work and fun. Now that the pea stone tractor pathway is installed, yesterday afternoon saw me hauling 3/4" gravel down into the trails while loading up on larger rocks during the return trip. Those rocks continue to be deposited on the settler's stone wall. Following is a 5:45 PM snapshot taken from the back deck. Already, late afternoon shadows are growing longer as we move into the month of August. Note the stone wall to the right of the entrance and the huge burn pile immediately behind the wall. I've purposely heightened that segment of the stone wall to protect the lawn from flying ambers during a burning event along with hiding the resulting ash pile from view.

The pea stone pathway is also evident. Clicking on the below image will provide access to the high resolution version for much closer inspection of the burn pile and adjacent stone wall. Brown colored rocks are freshly added and will need time to weather to their natural gray coloring.

 

Tenafly's CAC Approved Liberty Seated Quarter Set Sale - Part 1 Bidding Opens 9:00 PM

After much work and anticipation, bidding opens for the Tenafly CAC approved Liberty Seated quarters at 9:00 PM this evening. There are many great lots to consider within this initial sale. Following are several of my favorite pieces that would nicely upgrade many of the Seated quarter sets under construction.

Much of the Tenafly Collection offerings was sourced from GFRC. This means that the original purchase prices and descriptions are available in the Sales Archive for your review prior to bidding. Reserve prices reflect the state of the current market with most being set at the CAC Price Guide.

Good luck to everyone who decides to place a bid this evening. I hope that this GFRC Online Auctions event is an enjoyable opportunity to secure some of the finest circulated Liberty Seated quarters available.

 

1840-O Drapery PCGS AU55 CAC 25C                                                  1847 PCGS MS63 25C              

    

1849-O PCGS F12 CAC 25C                                                       1850 PCGS AU55 CAC 25C

    

     1853 A&R PCGS AU50 Gold CAC 25C                                  1854 Arrows PCGS AU55 Gold CAC 25C

    

    1855 Arrows PCGS AU55 Gold CAC 25C                                           1857 PCGS MS65 CAC 25C                

    

 

Summer FUN U.S. Gold New Purchases!

Yes indeed, it is time to showcase a host of special U.S. gold new purchases from the Summer FUN show. The following gallery presents the initial round of new offerings with another group coming right behind today's lot. Without question, the highlight of GFRC gold new purchases is the 1866-S No Motto $10 rarity. 1866 San Francisco strikes across all silver and gold denominations are tough dates. The No Motto $10 eagle is particular rare with an estimate of 40-55 survivors is all grades.

Following is a just completed description for this piece that will post to the price list once the Blog is uploaded.

The highlight of Summer FUN 2021 new purchases is this $10 U.S. gold rarity. Mintage for the 1866-S No Motto date is reported to be 8,500 pieces. PCGS has certified 47 pieces in all grades while CAC has approved 9 example from both grading services. No Mint State example are known. These populations reports are consistent with PCGS Price Guide estimate of 40 to 55 known given the regrades embedded in TPG reports. GFRC is pleased to be offering this well preserved specimen that belongs in an advanced collection. Bright light inspection reveals a base greenish-gold coloring that is overlaid with peripheral orange and rose shades. As made mint frost is still present surrounding stars and the reverse eagle. Undisturbed mint frost within the olive branch and (UNI)TED provides a hint as to this piece's original coloring and beauty. Surfaces are without any significant abrasions. An unquestionable end of Civil War rarity issued prior to the inclusion of IN GOD WE TRUST motto on United States coinage. Housed in PCGS Gen 4.5 (2011-2013) holder with CAC approval.

Another important offering is a near-gem 1882 Carson City $10 gold piece. Here is the just written description.

1882 Carson City $10 gold production was limited to only 6,764 strikes. Most certified survivors are found in the EF45 to AU55 grades with few Mint State pieces known. Total CAC approved population stands at 27 examples. The Osprey Collection has located a near-gem specimen with gorgeous steely reflective luster and consistent green-gold coloring. A thin arc of peripheral honey-gold nicely decorates the green-gold centers. Bright light review showcases uninterrupted luster due to the lack of field abrasions. Ample amounts of original mint frost are evident in the protected areas. Overall, a well preserved example that easily warranted CAC approval. Housed in NGC Gen 17 (2004-2008) holder.

Summer FUN U.S. Gold New Purchases!

Please Email for Price Quote - Posting to Price List on Saturday

1866-S No Motto PCGS EF45 CAC G$10

1852-D NGC AU55 CAC G$5                                                   1882-CC NGC AU53 CAC G$10

    

 1843-O Sm Date PCGS AU58 G$2.5                   1850-O NGC AU55 G$2.5                        1903 NGC MS65 CAC G$2.5      

            

   1907 PCGS MS64 CAC G$5                   1900 PCGS MS64+ CAC G$20

      

 

Wrapping Up The Blog

Morning finds me in the GFRC office before burning the branch pile this afternoon. Burning a pile of this size takes consideration and adequate preparations. The timing is ideal after nearly ten days of rainy conditions. Securing a burning permit should not be an issue. Wind speed and direction must also be contemplated. The weather forecast indicates fairly steady winds from the north-west at 10 mph. I'm not crazy about burning with 10 mph winds but the wind direction is ideal from guiding smoke into the woods rather than towards the homestead and that of the adjacent neighbor's property. It appears that I will deal with the winds in order to secure favorable smoke displacement.

Thanks for checking in at the Blog! Be well.

 

 

 

July 30, 2021

Tenafly's CAC Approved Liberty Seated Quarter Set Sale - Part 1 Bidding Opens Tomorrow

and

More Summer FUN New Purchases!

 

Greetings and welcome to a fresh and wholesome Daily Blog edition! It is a Friday morning and I'm feeling good. Why?

Thursday brought a productive day along with a rash of great news.

On the productive side, 6 yards of pea stone were utilized building the JD2025R pathway to the back acreage. Diane was amazed that the entire Wilkinson delivery was consumed and the driveway washed, all in four hours. Now, the back acreage project can move forward without fears of rutting the side lawn. With usage, the pathway rocks will embed themselves into the underlying soil and the grass will grow through the rocks. Following is a early morning snapshot to showcase the installed pathway since it started raining as I wrapped up yesterday's effort.

 

Next on the positive news parade was a phone call from Dan White taken during the middle of the pathway project. Across several days, Dan has managed to buy two U.S. gold deals totaling 23 coins with about 65% being CAC approved. One of the deals contains a fair number of circulated grade Dahlonega pieces. Way to go Dan!

Early afternoon also brought the arrival of two USPS Express boxes from Oregon Beaver. These boxes contain the next major GFRC Online Auctions event scheduled for September. Oregon Beaver's Liberty Seated half dollar divestment is timely as the GFRC community is absorbing fresh Seated coinage as quickly as presented. Please be assured that these are quality original offerings from one of the GFRC community elders.

Finally, late afternoon brought an email from CAC announcing approval results for recent Sooner and New Jersey Collection consignments. This submission garnered ~ 60% approval rate and will fuel the CAC approved price list in the coming days.

 

Tenafly's CAC Approved Liberty Seated Quarter Set Sale - Part 1 Bidding Opens Tomorrow

Hold on to your hats as bidding for the Tenafly Collection Part 1 sale begins in less than 48 hours. There are a countless CAC approved Seated quarters for your consideration in this sale.

 

Transitioning Away from First Right of Refusal Program

Long term Blog readers should have noted the transition away from the First Right of Refusal program. I've been experimenting with several Blog presentation options towards locating a simplified approach that works for me and is fair to clients. After some trial balloons, two options have been selected for sharing new offerings in the Blog.

Yesterday brought the following email from a client questioning the optimum approach for buying new purchases.

Good morning Gerry,

Can you please confirm how/when you would like to be approached for a possible new purchase? As a regular blog reader I had the understanding that we should not be reaching out (FRoR) to attempt purchase prior to a new item reaching the price list (see 07/24 post below). Based on today's post, it seems as though new items are being placed in the blog before reaching the price list and you are accepting purchase requests before the price is listed (FRoR?).


As a response to this email, please check the follow gallery and the subtitle line which reads, "Please Email for Price Quote - Posting to Price List on Friday". This will be one of the two approaches moving forward. Please allow me to explain both offer methods.

New Offerings Simultaneously Posted to Blog and Price List

This approach is the cleanest but also difficult for me to execute. Images and full descriptions must be prepared in advance and loaded in parallel on the Blog and Price List. This approach requires a large block of time to execute and was first tested with the Port Matilda Collection offerings. Of course, it works well. The downside is the time required to build the entire image and description module before I am post any fresh Blog content.

New Offerings Posted to Blog with Email Driven Price Quote

This week, I've tried a modified approach by posting images first to the Blog followed by loading new offerings to the price list during the following day. Clients can email for a quote followed by making a play/pass decision. Again, please read the subtitle line. If a client purchases the coin, it will posted to the price list with a Hold status and a brief Long Description. If no one makes a play for a coin, it will load to the price list with a full Long Description. Writing Long Descriptions takes consideration time among the many tasks that I must get done each day.

This approach satisfies my content need to keep image galleries flowing into the Blog on a daily basis. Only priced coins that have been loaded into the COIN system will be showcased in the Blog. Once there is time in a busy schedule, these pieces will be loaded to the price list with either a Hold status or an available status. I promised to exercise discipline and load coins onto the price list within 24 hours after being illustrated in the Blog.

 

More Summer FUN New Purchases!

Please Email for Price Quote - Posting to Price List on Friday

      1832 LM-12 PCGS AU50 H10C                 1833 LM-10 NGC AU58 CAC H10C           1848 V-5 NGC MS62 Fatty H10C    

            

 1857-O PCGS AU50 25C                           1913-D PCGS AU55 25C

       

 

What GFRC customers and Daily Blog readers are witnessing is a business undergoing another transition. I am attempting to support the GFRC Online Auctions platform, the regular GFRC retail business, write an ongoing Daily Blog, and continue to build the Ledge Hill Trails project in the back acreage. There are only so many hours in a day to support wide ranging goals. Fine tuning of the Daily Blog and retails sales business is underway towards finding the most time efficient operating methods that still provides fair access to all clients.

Most coin dealers develop a sales flow and stick with that approach for years. GFRC is different and is an example of a business that seeks continued growth through operational optimization. This mindset was critical during my years in the semiconductor industry. The only way to drive down costs was to drive efficiency improvements via reduced process flow complexity and factory cycle times. For clients who have not experienced the demands and stress of the semiconductor industry, my actions may appear confusing. I'm sorry for the state of operational transition. However, these optimization efforts are consistent with a high performance organization.

 

Global Financial News

The final trading day of July has arrived with equity markets flashing a pessimistic opening. Futures are down throughout the globe as the U.S. government faces another debt ceiling drama.

In Asia, Japan -1.8%. Hong Kong -1.3%. China -0.4%. India -0.1%.

In Europe, at midday, London -0.9%. Paris -0.3%. Frankfurt -1%.

Futures at 6:20, Dow -0.3%. S&P -0.7%. NASDAQ -1.2%.

Paper gold continues its multi-day rally with a $1833/oz quote. WTI crude oil pricing also continues to increase. We start the day at $73.38/bbl. Bitcoin has pulled back to $38,741.

The 10 Year U.S. Treasury bond yield stands at 1.25%.

 

Wrapping Up The Blog

Today brings a full day in the GFRC office given fresh consignment and auction lot backlog plus processing images for Summer FUN U.S. gold new purchases. There is plenty of office work to get done!

Thanks for checking in at the Daily Blog.

 

 

 

July 29, 2021

Here Come Summer FUN New Purchases!

 

Greetings and welcome to the Blog on a Thursday morning.

The day starts with blue skies which are quickly beginning to cloud over while the Blog is being composed. Yes, more rain arrives during the early afternoon and will be with us through a portion of Friday. The constant rains are a blessing as the landscape remains lush green going into the month of August.

Speaking of August, this time frame will be particularly busy at the homestead with another wave of improvement projects and a overnight visit by former IBM friends that we reconnected with last year. What kind of projects you might ask? First is the replacement of the pressure treated back deck with an expanded structure constructed from composite materials. New support posts will be installed including the replacement of one of the poles supporting the sun room. Once that work is completed, the 1985 vintage paver blocks under the deck will be replaced with a modern cover grounding solution.

If the above were not enough, Dave Wilkinson will be back during the last week of August with his excavator. Cutting the northern trail within the Ledge Hill Trail development effort is the primary objective.

There is little to share today other than a portion of Summer FUN new purchases. We are working through the silver coinage offerings first followed by a substantial amount of new U.S. gold offerings during the coming weekend. So far, the 1840 Drap 25c, 1800 $1, and 1898 Morgan are spoken for. I've given quotes on several other pieces. All of the following offerings should be on the 30 Day Price List by end of day.

 

Here Come Summer FUN New Purchases!

  1829 LM-3 PCGS MS64 CAC H10C                                              1860 PCGS MS63 CAC H10C

    

1840 Drapery PCGS MS62 25C                                                   1882 PCGS MS65 CAC 50C    

    

   1798 B-28 BB-118 PCGS EF40 CAC $1                                 1800 B-13 BB-193 PCGS EF40 CAC $1   

    

1859-O NGC MS61 CAC $1                                                       1876-S PCGS MS64+ CAC T$1

    

  1871 PCGS AU53 CAC $1                                                       1898 NGC MS64 CAC Fatty $1

    

 

Global Financial News

Financial markets are flashing green futures after a benign Federal Reserve meeting. The message from Jerome Powell was steady as she goes concerning low interest rates and monthly bond buying to the tune of $120B. Elevated Covid Delta variant infection rates are once gain viewed as a potential headwind for fully reopening the U.S. economy. The status quo is ideal for sustaining the present stock market rally.

In Asia, Japan +0.7%. Hong Kong +3.2%. China +1.5%. India +0.4%.

In Europe, at midday, London +0.9%. Paris +0.7%. Frankfurt +0.4%.

Futures at 6:20, Dow +0.4%. S&P +0.3%. NASDAQ -0.1%.

Paper gold prices gapped up to $1828/oz on the benign Federal Reserve news. Low interest rates should continue to foster a weak U.S. dollar which is consistent with higher gold prices.

WTI crude continues to rally at nearly $73/bbl. Bitcoin is holding recent gains at $40362 and the 10 Year Treasury Bond yield stands at 1.27%.

 

Wrapping Up The Blog

With rains forecasted to start by early afternoon, you will find me in the office nearly the entire day.

Morning shipping is light followed by Dave Wilkinson bringing 6 yards of pea stone for lining the tractor trail within the side lawn. The transport of gravel and stone from the top of the hill down into the back acreage project has created bare tire tracks that become muddy during rains. Lining those tracks with pea stone will prevent erosion while presenting a visually attractive path way in the side lawn.

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

 

 

 

 

July 28, 2021

Short Blog Wednesday

and

Atypical Summer FUN New Purchases to Consider

 

Greetings and welcome to the Blog on a Wednesday morning.

Yesterday's dentist visit went smoothly other than walking into the dentist office lobby and being told to put a mask on. Sure, I carry a mask in one of my shorts pockets as an emergency device just like the rag top on the 1993 Miata. When being 6'2", having the Miata's rag top in place is unpleasant. Therefore, I only drive the Miata on rain free days. Ditto with the mask. I've been vaccinated and enjoy the freedom of living a life without wearing face covering.

On Tuesday, the ANA sent out a World's Fair of Money show update with confusion concerning masking and negative Covid testing requirements before traveling to the show. Did you know that we now have "orange states" with respect to Covid? The ANA is punting the ball to the CDC. The CDC guidance has become dynamic and leaving its guidance implementation to the local municipalities. Good luck to everyone who attends the Chicago ANA. I'm thrilled to be staying put in Maine with a growing backlog of fresh consignments and Oregon Beaver's forthcoming auction offerings.

Today's Blog will be brief along with minimal shipping. The focus shifts to Summer FUN new purchases, which have been photographed. Here is a snapshot of what is coming to the price list in the next 72 hours. The average value of forthcoming offerings is well above the $1000 level given a healthy number of U.S. gold pieces.

 

There are a host of awesome offerings in this double row box with most being CAC approved. Once images are completed, they will be randomly posted to the Blog on a preview basis. I'd like to get the images done first followed by updating the price list. If you fall in love with a new offering that is showcased as a Daily Blog preview, please feel free to email or call for a play/pass quote.

 

Seth Godin Blogpost: Progress is a trade

Today's Seth Godin blogpost struck a chord. Some of us love to live life by constantly testing ourselves with new challenges. On a personal level, the GFRC business and the Ledge Hill Trails project present ongoing problems to be solved. Improvement ideas are implemented and tested. Successful ideas are gratifying but not as important as those ideas that fail. Failure is always memorable and the best teacher. Godin states it so well that a new set of problems are worth dancing with as the outcome is increased learnings and productivity.

Progress is a trade

It’s easy to imagine that over there, just a few steps ahead, our problems will disappear.

Pessimists, of course, are sure that instead of disappearing, tomorrow will make things worse.

The truth is pretty simple: All we do, all we ever do, is trade one set of problems for another.

Problems are a feature. They’re the opportunity to see how we can productively move forward. Not to a world with no problems at all, but to a situation with different problems, ones that are worth dancing with.

 

Tenafly's CAC Approved Liberty Seated Quarter Set - Part 1 Sale

A reminder that bidding opens for the Tenafly Collection's Seated quarters on Saturday evening. The Part 1 Sale features dates from 1838 through 1859. A GFRC Online Auctions PDF catalog is available for download by clicking on the below cover page.

 

Atypical Summer FUN New Purchases to Consider

Here are two gorgeous Summer FUN new purchases for your consideration. Both are atypical with respect to traditional GFRC offerings. Superior eye appeal is immediately evident and the basis for adding these to inventory.

These two offerings are indicative of the quality pieces that will be posted during the next 72 hours. Again, please call or email for a price quote.

 

Atypical Summer FUN New Purchases to Consider

1833 PCGS MS65BN CAC 1C                                                   1916 PCGS MS64 CAC 50C

    

 

Global Financial News

Tuesday saw U.S. equities moving off fresh record levels, but ever so slightly. The U.S economy is recovering with human resources being a substantial issue. While driving back to Raymond from the Portland dental office, I could not help but notice the omnipresent "Help Wanted" signs. The food service industry is especially being hard hit by a lack of workers but not exclusively. I saw help wanted signs for business that require trades people also. The Hannafords grocery store in Windham is just one example of a core local business that is struggling to find workers towards keeping shelves properly stocked.

Following are morning market futures courtesy of Seeking Alpha. Apple had a blow-out earnings report which is adding fuel to the recent NASDAQ rally.

In Asia, Japan -1.4%. Hong Kong +1.4%. China -0.6%. India -0.2%.

In Europe, at midday, London +0.3%. Paris +0.9%. Frankfurt +0.3%.

Futures at 6:20, Dow flat. S&P +0.2%. NASDAQ +0.3%.

WTI crude pricing is increasing again with a morning quote of $72.37/bbl. Paper gold remains in a tight trading range at $1799 oz. Bitcoin is back in play at $40,000.

The 10 Year U.S. Treasury yields stands at 1.25%

Following is Seeking Alpha's reporting on dynamic Covid mask mandates.

Pointing to the Delta variant and a high number of unvaccinated individuals, the CDC has reversed its indoor mask policy, saying fully vaccinated people and kids should wear face coverings indoors. New data from the agency apparently suggests that fully vaccinated individuals can carry high enough viral loads that can infect other people because Delta behaves "uniquely differently from past strains of the virus." Guidance from the CDC is only a recommendation, meaning states and local officials will have to decide whether to reintroduce mask rules.

Across the country: Some regions have already recommended or required that residents resume wearing masks indoors, including 17 counties in California and Clark County, Nevada, which houses Las Vegas casinos. Localities from New Orleans, Louisiana, to Provincetown, Massachusetts, have also issued an "indoor mask advisory" regardless of vaccination status. The updated guidance comes ahead of the fall season, when Delta is expected to cause another surge as employers bring workers back to the office and kids head back to school.

 

Wrapping Up The Blog

So ends today's edition. I will be in the office the entire day and loading many Summer FUN new purchases to a Blog gallery and the price list.

Thanks for stopping by and checking in on today's ramblings. Be well!

 

 

 

July 27, 2021

Ledge Hill Trail Main Pathway is Repaired

GFRC Online Auctions Secures Auction Page on Newman Numismatic Portal

and

Time to Roll-out Summer FUN New Purchases

 

 

Greetings on a Tuesday morning and welcome to more Blog ramblings.

I'm thrilled to report that Diane is back home after a two-week nanny assignment in Austin. Her flight arrived at 11:30 PM which translates into a limited amount of sleep before resuming blogging duties. An afternoon nap might be in the cards but alas, there is a 1:30 PM dentist appointment to contend with. Such is the life of a busy person.

 

Ledge Hill Trail Main Pathway is Repaired

With Diane's return imminent, Monday afternoon found me repairing the Ledge Hill Trails main access roadway and consuming the last of the 1.5" stone pile in the driveway. The pile is gone and the pathway looks great. For readers who enjoy viewing back acreage project images, following is a cellphone snap of the repaired path. The stone lined diversion channel is easily seen on the left side of the entrance.

Like everything in life, one takes several steps forward and learns from mistakes. Heavy rains and the washout provided feedback for constructing a more robust roadway that should sustain weather events and tractor traffic for wood removal and trail lining material transport.

 

The Ledge Hill Trails project is a continuum. Here is an image of the next task to be dealt with. Call it a "big boy" brush pile that will be burned during the coming weekend (weather conditions permitting). The blue plastic five gallon container holds kerosene. For readers who don't handle the various fuel types on a regular basis, following is a fuel color code to remember. Red = Gasoline, Yellow = Diesel, and Blue = Kerosene.

 

Now back to GFRC and numismatics...

 

GFRC Online Auctions Secures Auction Page on Newman Numismatic Portal

There is no question that the GFRC Online Auctions platform is gaining traction as auction catalog are published and event backlog grows. If collectors step back and contemplate the service offerings, the No Buyer's Fee auctions, and the integrated auction/price list selling strategy, they will appreciate the uniqueness of the business model and how it has been tuned to a seller's advantage.

Yesterday brought the creation of the GFRC Online Auctions page on the Newman Numismatic Portal website. This archival platform will be updated with forthcoming auction catalogs. A shout out goes to Len Augsburger for creating this online catalog access link.

 

Time to Roll-out Summer FUN New Purchases

Now that Diane will be back in the office and the Tenafly Collection Part 1 auction preparations are complete, focus shifts to posting Summer FUN new purchases to the price list. About 50 quality coins still remain in the office safe and will receive attention starting today (too bad about that dentist appointment). Get ready for a large number of fresh U.S. gold offerings along with some awesome Draped Bust dollars among the many new postings.

Dan White and I had considered walking the Bay State Coin Show bourse on Thursday or Friday of this week. With so many Summer FUN new purchases to process, I will be staying put in the office leaving Dan to conduct a solo Massachusetts buying trip.

 

Global Financial News

Monday brought yet another round of new record levels for U.S. equity markets, though the gains were minimal. Morning market futures are consistently negative other than Japan for a Tuesday. Please note the sharply lower futures for Hong Kong and China (Shanghai). All is not well in China financial markets as the Beijing Central Government attempts to reign in mainland companies that have become too successful by copying Western business models. A Seeking Alpha article will be shared on the this topic as Xi Jin Ping takes incremental steps to control Chinese society as a modern day emperor.

In Asia, Japan +0.5%. Hong Kong -4.4%. China -2.5%. India -0.5%.

In Europe, at midday, London -0.5%. Paris -0.4%. Frankfurt -0.6%.

Futures at 6:20, Dow -0.5%. S&P -0.4%. NASDAQ -0.3%.

Crude oil pricing is flat at $71.89 while paper gold is quoting at $1799/oz for those who are interested.

China wipeout

Sweeping crackdowns across China are continuing to send shock waves across financial markets, with investors finding themselves in the firing line of some of the nation's hottest sectors. Shares of Tencent fell 10% on Monday after Beijing ordered the company to give up exclusive music licensing rights, food delivery companies such as Meituan were also targeted, while education stocks like TAL Education, New Oriental and Gaotu Techedu slumped about 25% each amid a ban on for-profit tutoring. In fact, the NASDAQ Golden Dragon China Index - which tracks 98 of China's largest firms listed in the U.S. - dropped 8.5% on Friday and another 7% on Monday, marking the biggest two-day sell-off since '08.

Analyst commentary: "Even when you think China risk is priced, it can get worse," Goldman Sachs wrote in a research note. "The government could come down much harsher than expected penalties for Tencent, they could implement much stricter social insurance programs for delivery drivers/temp employees, they could crack down on other industries viewed as a threat to social cohesion (SFV? Livestreaming? Who knows.)"

While Beijing has tolerated conventional regulations on certain sectors in the past, the government now looks ready to kill whole companies or entire industries. One doesn't have to look far to the recent pulling of Ant Group's IPO or the DiDi Global fiasco that shook the investing world earlier this month. China has pointed to financial risk, antitrust concerns and national security violations, but its acceptance of stockholder pain for long-term social control appears to have some market participants reassessing Xi Jin Ping's Communist Party.

Outlook: Investors aren't the only ones reviewing their relationship with China. Another contentious meeting between Washington and Beijing proved unsuccessful on Monday, with Vice Foreign Minister Xie Feng saying the relationship was at a "dead end" and risks "serious consequences." He even presented U.S. Deputy Secretary of State Wendy Sherman with two lists of "red lines" that were necessary to stabilize ties, including "U.S. wrongdoings that must stop" and "key individual cases that China has concerns with."

 

Wrapping Up The Blog

So ends today's ramblings. Yes, there is another morning of packing and shipping to get done before heading to that dentist appointment.

This week brings several new consignment shipments that will further augment Summer FUN new purchases.

To those who are inquiring about GFRC's Summer ANA show attendance, I'm sorry but will be staying put in the Maine office. We find the GFRC business model in another transition with growing amount of resources being allocated to the GFRC Online Auctions platform along with higher priced offerings. Office operations is once again the constraint therefore best to stay and work through current backlogs rather than going on the road for ten days.

Thanks for stopping by at the Blog.

 

 

 

July 26, 2021

Tenafly's CAC Approved Liberty Seated Quarter Set Sale - Part 1 Catalog is Published

Sooner Collection Images Available on 30 Day Price List

and

Future GFRC Online Auctions - Oregon Beaver Seated Halves

 

Greetings on the last week of July and welcome to the Blog. Thanks for stopping by.

It is difficult to believe that August is just around the corner, but it is. July brought a thoroughly busy month with Summer FUN recovery, Diane heading to Austin for several weeks, and working through the Branch Mint Collection wrap up admin along with Tenafly Collection's auction preparations. Sadly, few fresh Summer FUN new purchases have been posted to the price list. This fact will change soon as Diane returns later today and will relieve my ongoing office workload.

In between the GFRC workload and responsibilities, I did manage to make some progress on the homestead's landscaping and Ledge Hill Trails adventure. The progress is meager but another incremental step in property improvements efforts. We open today's Blog editions with several images taken on Saturday and Sunday.

Living on the side of a 950' hill presents rain washout challenges. Water always flows downhill and will cause erosion if not properly managed. Since 1985, I've dealt with early spring road sand in the driveway. Over the years, the salted sand has found its way onto the entrance lawn and poisoned the grass. it was not until this summer that the Town of Raymond built a runoff pit with large rip-rap stone to divert the water flow away from the driveway. Yes, it was a long time coming.

On Saturday, the roadway downhill side of the driveway was updated with a smaller rock channel to divert water flow around the landscaping and into a buffer wooded area. Following is an picture taken part way through the trench digging portion of the improvement. It was quite convenient to have the JD lawn tractor and Polar cart to haul away the dug dirt by the JD2025R's backhoe. Once the trench was fully dug and shaped, the trench was backfilled with 1.5" stone. This improvement worked like a charm on Sunday during another round of rains.

 

Sunday final saw the digging out of the Ledge Hill Trails entrance towards installing a water diversion trench. The project started at 6:00 AM but was shutdown due to more rain. I went back out to the project at 4:00 PM and continued digging the water channel well into a wooded area behind the stone wall.

The following image was take during the afternoon digging session and illustrates the entrance area's water diversion strategy. The goal was to channel all the lawn run-off into a trench on the right side (as illustrated). It is difficult to assess the trench depth from the image but about 12" and shaped to the right. A host of rocks were removed as the entrance was previously part of a continuous settler's stone wall. The JD2025R backhoe performed like a charm with patience. A small tractor backhoe can do the work of a larger machine. All that is required is patience and finesse.

 

 

Once the trench was completely dug and properly shaped, professional grade weed fabric was cut and placed throughout the entrance area. Next came the transport of 1.5" stone from the driveway pile to backfill the diversion channel. The following image illustrates progress made before calling it a day. The ground is just too saturated and easily rutted when moving stone and gravel from the top of the property to complete the job. The next few days are forecasted to be warm and dry allowing the lawn to drain out and harden. This small project will be wrapped up on Tuesday. In the meantime, we must deal with a residual pile of 1.5" stone in the driveway.

 

Tenafly's CAC Approved Liberty Seated Quarter Set Sale - Part 1 Catalog is Published

A rainy Sunday also brought the opportunity to construct the Tenafly Collection's printable PDF catalog. This catalog can be downloaded by clicking the cover page. The catalog is also available in the Download folder for those using Windows operating system. This catalog illustrates the first half of the Tenafly auction sale that begins this coming Saturday at 9:00 PM. A second catalog will be made available one week before the Part 2 sale (1860 through 1891 dates).

Presenting the Tenafly Collection's PDF Catalog

Sooner Collection Images Available on 30 Day Price List

I'm pleased to report that the remaining Sooner Collection offerings, that were not submitted to CAC, now have posted images. Below is a short gallery that illustrates the pieces with the 1872-CC half being on hold.

Sooner Collection offerings bring solid quality and eye appeal. This individual has been collecting for years and has achieved "the eye" for eye appealing Seated coinage. This fact should be immediately evident during the gallery review.

Descriptions will be added today to close out the consignment posting other than those that return back from CAC on Tuesday.

 

Sooner Collection Images Available on 30 Day Price List

1825 O-111 PCGS AU55 50C                                                         1871 ANACS AU55 50C

    

   1872-CC PCGS G04 50C                                                         1873 Arrows NGC AU53 50C

    

1874 ANACS AU55 50C                                                              1877 NGC EF45 50C   

    

 

GFRC Online Auctions Announces the Oregon Beaver Liberty Seated Half Dollar Event

During the past several weeks, communications have been underway with the Oregon Beaver consignment. He has been studying the GFRC Online Auctions platform and recent sales results.

I'm pleased to announce that the Oregon Beaver Collection has decided to divest a 42 piece Liberty Seated half dollar lot that will be reserved at slightly ahead of $100,000. The physical transport of the auction items and other consigned pieces takes place this week across multiple Express shipments.

Current thinking is for an auction event between the middle and end of September. Please continue to check the GFRC website and Daily Blog for a schedule announcement. GFRC's staff cataloger, Len Augsburger, is already on board to handle description generation.

 

Global Financial News

Another earnings reporting session is upon us. Markets can experience elevated volatility during earning reporting as one weak report out by a sector leader can trigger sell responses through that sector. Call it guilt by association or moving in sympathy....

Bitcoin has gapped up to nearly $39,000 during the weekend after favorable comments from Cathie Wood (Ark Invest) and Jack Dorsey (Square). This type of movement continues to reinforce the emotion nature of Bitcoin "investing". I believe that "speculation" is a better term to describe an asset that lacks measurable fundamentals.

Also note that the 10 Year U.S. Treasury yields has increased to 1.37%. Covid-19 Delta variant economic fears are subsiding while lock down measures are being reinstituted in the UK and Australia. Mask mandates are increasing in the U.S too.

In Asia, Japan +1%. Hong Kong -3.9%. China -2.3%. India -0.2%.

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

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

The trading week starts with WTI crude at $71.64/bbl and paper gold at $1809/oz.

 

Wrapping Up The Blog

Today's edition has been quite lengthy and best to run the Dreamweaver spell check followed by an upload.

Yes, I will be in the GFRC office for most of the day.

Thanks for checking in. Be well.

 

 

 

July 25, 2021

Another Power Outage and More Rain

 

Greetings on an unpredictable Sunday morning and welcome to the Blog.

As the headlines suggests, I'm dealing with a third power outage in the past several days. Once again, the outage is localized to North Raymond area. Let's remember that the Dell laptop has a dead battery which means operating on AC power is mandatory. Wouldn't you know it that I used the balance of the five gallon gas can yesterday to fuel the JD lawn tractor? Of course, that meant an early trip to the closest gas station to secure fuel for the generator and to ensure that the Blog gets composed and uploaded.

Now the rain situation...

Saturday's weather forecast had rain arriving at about Sunday noon time. I was certain that the drainage ditch could be dug and backfilled with 1.5" stone by noon time with an early start to the day. Sometimes, things just don't work out as planned.

I arose at 5:30 AM to write a short Blog edition. A weather check indicated the rains would arrived at 8:00 AM instead of noon. Bummer!

So, I immediately had breakfast and headed outdoors. The JD2025R was ready for the digging event. About 75% of the ditch was completed before the rains appeared at 7:30 AM. No problem! I will head into the house, take a shower and write a slightly delayed Blog. Luckily, I was able to get through the shower before the power outage.

Here I am at 8:30 AM employing generator power to share a brief Blog edition.

The balance of the of morning will be dedicated to image processing and writing descriptions for the Sooner and Port Matilda Collection consignments. Let's hope that by noon time, the power will be back on and the rains will have abated.

Monday morning will bring a regular and lengthy Blog edition with homestead and back acreage images. Optimistically, tomorrow will be more predictable than the past few hours.

Thanks for checking in! Be well.

 

 

 

July 24, 2021

1839 U.S. Gold is Unique Design Type

and

Simultaneous Port Matilda Price List and Blog Offerings a Success

 

 

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

It is 6:15 AM and time to sit in front of the laptop and write yet another edition. The problem is that there is little prepared with today's content being instantaneous inspiration. Friday was one of those reactionary days with a host of surprises. Two power outages, a dead laptop battery, and severe thunderstorms were distracting for sure. Let's also add in a trip to Windham's Bank of America location for check deposits followed by grocery shopping.

In between all of the above, eight Priority boxes were shipped along with invoicing a solid ordering event for the new Port Matilda Collection offerings.

Losing the battery in my Dell laptop is a substantial issue with usage solely dependent on a power cord. Google searches (while on generator power) brought instructional videos for changing out the Inspirion battery along with researching the model number and Amazon availability. A replacement battery will be delivered on Monday. But first I must head back to civilization to locate a special screwdriver for those tiny back panel screws.

The power outages were localized to North Raymond and were either the result of a lightning strike on a telephone pole/downed tree or a road accident with same. An old fashion thunderstorm rolled through during the late afternoon hours. With the homestead positioned at the top of Ledge Hill, the perspective quickly becomes exciting. There were lightning strike throughout the area with one bolt that was close enough to launch a cracking sound wave that shook the house. Rather than cower inside the house, nature's violent spectacle was experienced in the glass sun room with a pre-dinner drink. Towards the end of the storm, which also included hail, Raymond fire department equipment rushed past the homestead with sirens blaring. Soon after, the power went out. Without power, the gas grill was convenient for cooking dinner once the rains abated.

After all of the above, the last thing on my mind was heading back to the office on a Friday evening to write coins descriptions or develop a topic for Saturday's Blog. Instead, I went to bed early and called it a day.

Today brings cool temps and bright sunshine, ideal condition conditions for working outdoors. The challenge is not rutting up the lawns while moving around with the JD2025R given the ongoing rain and saturated ground. Sunday afternoon brings yet more rain.

 

1839 U.S. Gold is Unique Design Type

The offering of an 1839 $5 gold piece, from the Port Matilda Collection, is an opportunity for a teaching moment. Were you aware that the first year of Liberty Head gold issues results in a unique design type? The Liberty Head is a another one of the many Christian Gobrecht designs and was first showcased on gold coinage during 1839. The 1839 head of Liberty is distinctly different as compared to coins dated 1840 and afterwards. The differences are sufficient enough that the 1839 issue should be considered a one year only type coin.

Please look carefully at the below illustration that compares the Head of 1839 design with that of subsequent years. By clicking on the image, a higher resolution display is available to help with the review.

There are a host of differences that should be quickly noted. Hair curls above the forehead are smaller on the 1839 design along with the entire head device being more compact. The vertical hair clasp has 7 beads on the Head of 1839 versus only 6 beads on the head of 1840. I'm certain that an acute eye will locate more differences.

I much prefer the beauty of the Head of 1839 design as the devices are better defined as struck in higher relief. Sadly, all of Christian Gobrecht's initial artistry succumbed to the realities of steam press coin production. Lower relief designs equated to longer die life and reduced striking issues.

The Port Matilda Collection consignment contains a lovely 1839 $5 gold offering that would be an excellent conversation piece.

 

Simultaneous Port Matilda Price List and Blog Offerings a Success

I was thoroughly pleased with the response to the Port Matilda Collection offerings along with the posting approach. Given the decision to eliminate the First Right of Refusal process, operational changes were also necessary as old collector habits die hard. The past week brought a key learning. If GFRC previews forthcoming offerings in the Daily Blog, some clients are not bashful about asking for first shot while others patiently wait for the coins to be posted to the price list.

The solution became obvious. Moving forward, GFRC will only market new offerings in the Daily Blog once those coins are posted to the price list.

This marketing transition was initiated with the Port Matilda Collection with all going smoothly. Customers enjoyed the gallery display in the Blog and rushed to the 30 Day Price List to learn the asking prices. Quick order decisions were made leading to an efficient selling event for your's truly.

Once Diane is back in the office and my new product posting bandwidth improves, the same communication process will be instituted for a wave of Summer FUN new purchases. Finally, the First Right of Refusal process and its variants will be buried and long gone with a GFRC new offerings process change.

 

Time Away From the GFRC Office

I had planned to close the GFRC office on Sunday and spend the day working outdoors, but the weather forecast warrants a change in plans. Instead, once Saturday morning shipping is completed, my attention will shift to the six yards of 1.5" stone in the driveway. It should not take long to dig a drainage ditch at the back acreage entrance followed by backfilling with stone. Of course, the number and size of encountered rocks (boulders?) during the digging is always a wild card. To avoid rutting the lawn, the stone will be transported by the JD lawn tractor and the Polar dual axle cart.

 

Wrapping Up The Blog

For those who are curious about financial markets, all U.S. equity markets closed at record levels on Friday. We now have a 35,000+ DJIA benchmark with the S&P 500 steaming along towards my end of year 4600 forecast.

Though it is exciting to be securing paper financial gains in the equity markets, there is always the opportunity to hold those gains by purchasing top end numismatic items. A careful interrogation of the GFRC price list might reveal some worthy candidates. Let's remember that not all of the Branch Mint Collection offerings have sold with the balance on the 30 Day Price List. The 1838-O F-102 dime, the 1875-S double dime and the 1847-O Gold CAC half are those types of coins to be bought and "put away" on a long term basis. Here are images to refresh your memory.

 

Thanks for checking in at the Blog. Be well!

 

 

 

 

July 23, 2021

Port Matilda Collection Offerings - Pricing on the 30 Day Price List

and

Clearing a Buffer Tree Line

 

Greetings and welcome to a regular guy's life on a seasonal Maine morning. Thanks for checking in.

What can possibly be said in the Blog that is fresh, dramatic and exciting? After writing for seven years (July is the Daily Blog's seventh anniversary), the probability of a regular guy offering stimulating new ideas or drama is meager. Drama is not the goal or intention of the Daily Blog. Rather, the Blog is a continuum of an average life that takes place in a Maine country setting or a condo cave in west coast Florida. Numismatic and a passion for nice coins is always the central topic.

A secondary consideration is watching an entrepreneur wrestling with a retirement business that continues to grow. That growth requires constant coarse corrections to stay within the realm of its two person staff. Some close numismatic friends may at times wonder why GFRC strays away from the proven path that most coin dealers adhere to. The answer is simple; because I can and must to sustain a balanced life.

When starting today's preamble, my goal was to send two messages. First is that living a well balanced and "regular" life is a normal expectation. Sure a normal life is boring as compared to what one reads on social media. Second is that the business world is subject to change when disruptors appear. At GFRC, you are partaking in the challenges of a restless disruptor as he attempts to manage personal time while his business model proves to be most successful. It is that simple...

Today features another change to the business model and the Blog; an operational solution for the elimination of the First Right of Refusal process.

 

Port Matilda Collection Offerings

The newest Port Matilda Collection consignment arrived via USPS Express delivery on Tuesday and was posted to the 30 Day Price List and the Blog on Thursday evening. The concurrent posting to two GFRC platforms was by design and a solution to the historical FRoR process. The simultaneous posting resolves the issue of those requesting first shot. There is no need for a first shot as the prices are available on the price list. First shot now translates into a potential purchase request based on availability. Gone is the need to deal with and respond to emails asking for first access to a coin showcased in the Blog once pricing is made available. The Daily Blog marketing power is maintained. Serious clients can promptly make a purchase/pass decision without my being part of the process. GFRC images have proven to be accurate and should preclude long descriptions being necessary when fresh consignments are initially offered. Coins that are not immediately sold will have descriptions added afterwards for the Collectors Corner marketplace.

Following is a fantastic top of the ladder release by the Port Matilda Collection. These offerings scream quality, originality and eye appeal. Please carefully review the gallery contents. If one of these lovely items strikes your fancy, the offer prices can be found on the 30 Day Price List.

Already, the 1865 quarter, 1840 Seated half, and 1909 $10 gold piece are spoken for. Someone has made an offer on the 1856-S half which is rejected. This piece remains in play until a collector steps forward at the offer price.

Congrats go out to the Port Matilda Collection consignor for his obvious demonstration of collecting proficiencies.

 

Port Matilda Collection Offerings

Lots Listed on 30 Day Price List

1823 O-105 PCGS AU58 CAC 50C                                       1844 WB-3 PCGS AU58 CAC 50C

    

1856-S WB-3 PCGS EF45 CAC 50C                                          1848-D PCGS EF40 CAC G$5      

    

     1869 PCGS EF45 CAC 1C                 1873 Open 3 PCGS MS64RB CAC 1C              1875 PCGS MS63RB CAC 1C

            

       1865 PCGS VF35 CAC 25C                 1821 O-103 PCGS AU53 CAC 50C              1840 Rev 39 PCGS EF45 CAC 50C

            

 1858-S PCGS VF30 CAC 50C                    1859-S PCGS VF30 CAC 50C                       1839 PCGS VF30 CAC G$5   

            

 1909 PCGS MS62 G$10

 

 

Clearing a Buffer Tree Line

Thursday decision to close the shipping department brought extra time to work in the back acreage. The weather was ideal for being on the land and shaping of the backyard landscape. As mentioned in Thursday's Blog, the day's task was cutting a buffer tree line immediately behind the settler's stone wall. That buffer was left behind during 2020 to hide the clearing on the left side of the back acreage. Now that ferns, blueberry bushes, and other indigenous plants have greened the cut area, the buffer can be eliminated.

Following is a cellphone image taken last evening as dinner was consumed on the back deck. Look carefully at the left stone wall to view the emerging landscape as the buffer trees are removed. One can also see a growing burn pile to the far right as the cuttings are transported via the JD2025R's grapple. Clicking on the below image will provide access to a much higher resolution version for those who wish to see the details.

 

Global Financial News

Wall Street is on another winning streak with new record levels likely to be attained based on morning market futures. Memories of Monday's sell-off are all but forgotten. Asian markets are struggling as Hong Kong continues to be "shallowed" by Beijing policies and control.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan closed. Hong Kong -1.5%. China -0.7%. India +0.3%.

In Europe, at midday, London +0.8%. Paris +0.9%. Frankfurt +0.8%.

Futures at 6:20, Dow +0.5%. S&P +0.5%. NASDAQ +0.6%.

Paper gold continues to hold the all important $1800/oz level while WTI crude has quickly rebounded to $72/bbl. Bitcoin is idling at $32,315.

The 10 Year U.S. Treasury bond yield is at 1.29%.

 

Wrapping Up The Blog

Today brings a full day in the GFRC office as I will be taking Sunday off to construct a drainage system at the stone wall's entrance area. The 6 yards of 1.5" stone must be removed from the driveway on Sunday prior to Diane's return on Monday.

I will be available via email and phone throughout the day. Priorities include morning shipping followed by loading Summer FUN new purchases to the 30 Day Price List along with being featured as another Blog gallery. The introduction for the Tenafly auction must also be written. There is lots on my plate and best to place attention on a host of must get done items.

Thanks for checking in at the Blog. Be well!

 

 

 

July 22, 2021

Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale Online Catalog is Posted!

and

A Short Blog on a Thursday

 

 

Greetings on a peaceful Thursday morning and welcome to yet another Blog edition.

Hints of the upcoming Maine Fall season were visible as I arose. A steady breeze and cool 58F temperature result in the office window remaining closed. Days are beginning to grow shorter as sunrise and sunset times slowly creep towards each other. The sky is cloudless with welcomed low humidity.

There is little prepared for today's Blog. My mind is focused on heading outdoors on the JD2025R and taking a mental break from the GFRC business. Last night's dreams were Capped Bust dime centric which is a signal that the evening's price list posting task mentally remained with me during the overnight.

A GFRC client sent along a touching response to yesterday's image of the backyard and acreage. I believe that response should be shared as it reminded me that life is not all about dollars, cents, pounds, shillings or pence. Our souls need spiritual nourishment. My nourishment arrives when cultivating and shaping the land rather than sitting in a office.

 

What an incredible image in the blog, thanks for sharing. Immediately called to mind this passage:

“Blessed with [spiritual security] is the man who believes and trusts in and relies on the Lord and who's hope and confident expectation is the Lord. For he will be [nourished] like a tree planted by the waters, that spreads out its roots by the river; and will not fear the heat when it comes; But its leaves will be green and moist. And it will not be anxious and concerned in a year of drought nor stop bearing fruit.”
‭‭Jeremiah‬ ‭17:7-8

 

Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale Online Catalog is Posted!

After several days of focused effort, the Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale Part 1 catalog has been posted to the auction link. I'm pleased with the outcome as is the consignor. Auction bidding begins on July 31 leaving ample time for the GFRC community to review lot images and descriptions.

Remaining is the composition of an introduction and the preparation of a printable PDF catalog. Highlights from the PDF catalog will be published in the August E-Gobrecht issue as a GFRC Online Auctions advertisement.

 

Global Financial News

Wednesday equity market trading has seen the DJIA erasing the entire pullback that occurred on Monday. The Covid-19 Delta variant fears were a mirage as improving economic activity is driving increased earnings potential. Investors have been conditioned to "buy the dip" even if the dip is only 1-2%.

Morning market future are forecasting more potential gains as the week moves along.

In Asia, Japan closed. Hong Kong +1.8%. China +0.3%. India +1.2%.
In Europe, at midday, London +0.3%. Paris +0.8%. Frankfurt +0.8%.
Futures at 6:20, Dow +0.2%. S&P +0.2%. NASDAQ +0.2%.

WTI crude has also recovered a substantial portion of Monday's price drop. The morning quote has risen to $71.03/bbl. We find paper gold quoting at $1796/oz and Bitcoin at $31845.

The 10 Year U.S. Treasury has climbed to 1.29%.

If stepping back for a moment and looking back at Monday's equity market drop, I suspect that computerized trading algorithms were responsible. We under estimate the sophistication of these algorithms to respond to news feeds. The CDC is contemplating the increase in mask mandates since the Delta variant is surging through the unvaccinated population. This type of news items could trigger some algorithms into sell mode.

 

Wrapping Up The Blog

The packing and shipping department is taking the morning off as previously mentioned. My apology to customers who have become accustomed to having their orders promptly shipped ahead of payment. The shipping department will be back on the job tomorrow.

I will be back in the office around 2:00 PM. The first priority is image processing of incremental Summer FUN new purchases towards a gallery display for Friday's Blog. We've only scratched the surface in terms of offering Summer FUN purchases with a long way to go. The new Port Matilda Collection consignment also requires attention.

Thanks for checking in! Be well.

 

 

 

July 21, 2021

Lush Green at the Maine Homestead

Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale Online Catalog Today!

and

1853 Seated Dollar with Rays on Banknote

 

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

Today's edition will be fast paced and covering much ground. We open with a Maine weather update along with the chipmunks being back.

Finally, southern Maine will experience a break from wet conditions after a week of daily precipitation. Today's high is forecasted at 77F with cloudless skies. You can bet that the residual Summer FUN new purchases will be photographed along along with an awesome new Port Matilda Collection consignment.

Yes, the chipmunks are back and digging holes in our front entrance area. Believing that the chipmunk issue was under control, Diane planted a host of beautiful flowers that I'm enjoying during her time in Austin. Yesterday brought the realization of freshly dug holes among the plantings. The first course of action was placing moth balls in each hole and burying the smelly contents. Now that the rains will stop, the 0.22 pistol is loaded with fresh shotshells and ready to eliminate chipmunks at their first appearance from the office window.

Substantial rains have brought a gorgeous and lush landscape as viewed from the back deck. Here is a quick image taken at 6:00 AM while the sun was beginning to rise over the Maine coast. The patched lawn areas are filling in nicely with deep greens being the Kentucky bluegrass along with a healthy amount of fertilizer. Portions of the buffer tree line, behind the left side of the stone wall, will be dropped this weekend to further expose the back acreage landscape.

A View from the Back Deck - July 21 6:00 AM

 

Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale Online Catalog Today!

Tuesday afternoon brought the completion of reserve recommendations for Part 1 of the Tenafly Collection Sale. Within hours, Tenafly responded with an affirmative for releasing the online catalog. Along with the response came a new mental health prescription from Dr. Durazo, Tenafly's close friend.

 

When Dr. Durazo sends along a clear signal for slowing down and literally, listening to the music, how could I not act accordingly? Instead of working the after dinner shift in the office (posting new Capped Bust dimes to the price list), I went directly to the basement sound room with two shots of tequila. To clear one's mind of numismatics and other responsibilities, Roger Water's In the Flesh rock concert video was the evening's entertainment. By 9:00 PM, I was in bed with a relaxed mind and a night of minimal dreams.

 

Awesome Port Matilda Collection Consignment Arrives

Out of the clear blue, the Port Matilda Collection has decided to release another installment of top of the ladder offerings. A brief email arrived during the weekend that I should expect a consignment on Tuesday. No details were provided but I knew the shipment would bring some awesome offerings.

The package arrived on scheduled along with an email from the consignor on contents and asking prices. My role is imaging and posting the shipment contents to the price list. What might the GFRC community expect in the coming days? Thirteen fresh offerings with twelve being CAC approved. There will be better date Indian cents, an 1865 Seated quarter, several Capped Bust halves, five Liberty Seated halves, and three U.S. gold pieces.

A portion of these pieces were purchased from GFRC, therefore the turn around time should be quick.

 

1853 Seated Dollar with Rays on Banknote

Yesterday's commentary on the lack of rays or other distinguishing marks on the reverse of lower silver planchet weight half dimes and dimes (1853 transition) brought feedback from Jim Laughlin. Jim lives on the west coast and has done extensive mid-19th century newspaper research concerning San Francisco and Carson City coinage. Jim sent along an image of a two dollar banknote from the American Bank Note Company and the following commentary.

Gerry,

I'm no expert on private banknotes of the 1853-1860 period,  but do know the American Bank Note Company used vignettes with the reverse of a seated dollar, that clearly showed RAYS and said ONE DOL. I've attached a picture of a banknote that I DO NOT own, that I copied many years ago for my own educational purposes....not sure if you could use the image, but sent along as support.....says ONE DOL and clearly shows the RAYS...placed over an underlain 8 Reales coin....signifying the bank note was worth Two dollars...am sure you've probably seen lots other ABC notes of the period with Seated Quarters, Seated Halves, and reverses of Dimes portrayed, as well as Gold Type I dollars.....as well as spanish empire reales and fractions....

Always wondered whether the seated dollar was so rarely seen in domestic commerce in 1853, that the bank note company just assumed the Dollar coin had rays too, since the halves and quarters did...

 

Global Financial News

What a difference 24 hours can make within the financial markets! Monday's large DJIA drop was promptly recovered yesterday. What happen to the global Covid-19 "Delta" variant fears pushed by the financial media? They probably did not exist in the first place, rather a convenient target for blaming a 700 point DJIA pullback. The motto to the story? One must have resolve and view global equities on a long term basis while ignoring the daily banter from the financial analysts. Let's remember that their role is to generate online clicks for advertising dollars. The juicier the story, the better.

Global markets are in solid green territory to start the trading day. Who knows? We might see new record trading levels in the next 48 hours.

In Asia, Japan +0.6%. Hong Kong flat. China +0.7%. India closed.

In Europe, at midday, London +1.7%. Paris +1.3%. Frankfurt +1.9%.

Futures at 6:20, Dow +0.6%. S&P +0.5%. Nasdaq +0.2%.

WTI crude oil pricing is already starting to recover near term losses. The morning quote is up to $68/bbl. Paper gold continues to consolidate above the $1800/oz with a morning quote of $1804.

After briefly dropping below the critical $30,000 level, Bitcoin has rallied to $30847.

The 10 Year U.S. Treasury bond yield has recovered to 1.26%

 

Wrapping Up The Blog

Today brings four deliverables; morning shipping, noon time photography, posting the Tenafly Collection Part 1 Seated quarter catalog to the Auction link, and posting previously showcased Capped Bust dimes to the price list.

It will be a busy day in the GFRC office per usual.

Thanks for checking in at the Blog. Be well!

 

 

 

July 20, 2021

Why No Rays on 1853 Half Dime and Dime Reverses?

and

Summer FUN New Purchases - Capped Bust Dimes Plus More

 

 

Greetings on a Tuesday morning and welcome to yet another Blog edition. Finally, Tuesday weather brings sunshine along with the return of a sunny disposition!

Yes indeed, the Daily Blog is kinda like a reality show that never ends. It portrays a regular life that just meanders along through seasonal and financial market gyrations plus numismatic hobby and business topics. Everyone has bad days on occasions. Bad days provide the basis for enjoying the great days that are surely in the majority.

Tenafly sent along the following message with a fresh prescription from Dr. Durazo. Extra time in the basement sound room worked like a charm. Tears for Fears' Elemental recording was the main event.

Hi Gerry, Love today's pictorial gallery in the blog. Yep, I'm glad that the Tenafly auction will be in 2 parts surrounding the ANA convention. Love the gold CAC's on top...there's only about 40 or so gold CAC LS quarters...maybe a new subset?

Hope you feel better...Dr. Durazo prescribes extra time in the sound room for a speedy recovery.

 

Seth Godin Blogpost: Direct marketing

Let's shift today's preamble to a short Seth Godin blogpost. The topic is direct marketing and having the insights to focus on the needs of a smaller audience. This topic rings true as GFRC tends to walk down a different business path. This fact become acutely obvious at the Summer FUN show when I let it be known that GFRC was not attending the Summer ANA show. Multiple dealers were in disbelief that I would contemplate skipping the numismatic industry's premier annual show. Personally, this decision felt right and will allow more connection with the GFRC community throughout the month of August. Between GFRC Online Auctions, new purchases and ongoing consignments, there is more long term goodwill possible by remaining in the office and presenting a continuous flow of new offerings to those not traveling to Chicago. Of course, a secondary consideration was the wear and tear on body and psyche from a ten day road trip.

Direct marketing

There are ten people.

If those ten people were aware of what you do, trusted you and were enrolled in the journey of change you seek to make…

They might each encourage ten people to join in.

And that group of 100 people might be able and willing to help you improve your work, or to introduce you to resources you need, or to become clients.

Which might lead to more opportunities, conversations and improvements.

Step by step. Like building a house.

It’s not direct marketing, which is focused on action and measurement and a funnel. It’s directed marketing, because you’re generous and specific about precisely who the work is for. And you’re willing to ignore most everyone else.

 

Tenafly Collection's Part 1 Online Catalog is Nearly Complete

Monday brought more progress towards completing the Tenafly Collection's Part 1 online catalog. The file is complete other than finalizing reserve prices. This task will be accomplished after another substantial morning dedicated to packing and shipping the Branch Mint Collection sale lots along with regular purchases. Once the reserves are set, they are off to the consignor for his approval or modifications.

Yesterday also brought a quality control check of images to ensure that all CAC approved lots have the green bean emblem. If you look carefully at Monday's large client gallery, I've inserted an 1858-O quarter image in the 1853-O slot. This was done by design since not capturing the 1853-O quarter during a photo session. With sunny skies in the forecast, I'll catch this piece up today.

 

Why No Rays on 1853 Half Dime and Dime Reverses?

Sunday brought an email question from from a client that deserves to be shared as the individual preempted what appears to be a logical response.

Gerry - First and most importantly, congratulations on your successful sale of the outstanding Branch Mint Collection. I'm sure the consignor is VERY pleased!

I have a question regarding the 1853 coinage with Arrows (and Rays on the quarter and half). I know why the arrows were added in 1853, I know why they were not added to the dollar, I know why the rays were removed after just one year from the quarter and half dollar. What I don't know is since the Arrows (and Rays on the two larger coins) were added to identify to the public the new coins with the reduced amount of silver, so they would then spend them and not hoard them, why was it deemed necessary to design a change for the reverse of the quarter and half by creating the Rays for I.D. purposes, but absolutely NO change to the reverse of the smaller Half Dime and Dime? Yes, they were presumably too small for the Rays, but if they felt the reverse also needed to be identified as new with reduced silver, why was the reverse of the smaller coins left IDENTICAL to the previous versions?

A logical response to the posed question is that the half dime and dime master hub dies were too small for the addition of rays along with the unnatural portrait of rays within a cereal wreath design. Let's remember that mint operations were crude with lengthy time requirements for the preparation of fresh master hub dies. I can't imagine any sound minded mint engraver believing that adding rays within a cereal wreath was aesthetically pleasing or a workable idea.

I checked the trusty Breen encyclopedia for insights. All that is mention is that Mint Director Eckert decided that a distinguishing mark was necessary to flag lower weight silver planchets from the earlier heavier weight stock. He ordered the addition of arrows flanking dates on all new-tenor coins about the 3c and rays on the reverse for coinage below the dollar. Longacre added rays by hand to a quarter working reverse die followed by hardening. That hardened die became the basis for cutting 120 additional reverse dies. Variations in the rays resulted from the number of times that the "master working die" was used as the impression including lapping during the die preparation process.

Logically, Longacre probably had enough on his plate with quarter and half dollar working die preparations to entertain the addition of rays on tiny half dime and dime dies. In my mind, the idea of rays on half dime and dime reverse made no sense given the rush to prepare distinguishing dies during 1853.

If anyone has a better response, I'm all ears!

 

Summer FUN New Purchases - Capped Bust Dimes Plus More

Following is a new installment of Summer FUN new purchases. Today's focus is Capped Bust dimes with two important pieces from the Seated and Barber era.

We open the gallery with a gorgeous 1821 JR-10 dime with noteworthy Eliasberg and Gorman collection pedigrees. This piece is a gem AU58 and should not last long on the price list.

For those who are not well versed with Capped Bust dimes, the 1814 JR-5 STATESOF is a rarity in EF40 or better. The 1829 Large 10C dime graded PCGS MS63 CAC brings proof like reflective surfaces and tons of eye appeal that is not captured by GFRC images.

Also in the gallery is an 1873 With Arrows F-103 Double Die Obverse dime that is crusty original. I've not handled a DDO dime for several years and was pleased to purchase this one when offered. The 1904-S Barber dime is a special piece given its AU58 CAC certification. There is one person on the coin who is patiently waiting for today's images and follow-on asking price.

Finally, also note the 1829 JR-4 dime that is a stunning circulated cameo.

Look for these offerings on the price list by late afternoon or early evening.

 

Summer FUN New Purchases - Capped Bust Dimes Plus More

1821 JR-10 PCGS AU58 CAC 10C - Eliasberg-Gorman

    1814 JR-5 STATESOF PCGS EF40 10C                                 1829 JR-2 Large 10C PCGS MS63 CAC 10C

    

1873 WA F-103 DDO VF20 10C                                                   1904-S PCGS AU58 CAC 10C

    

1821 JR-9 PCGS AU50 10C                      1825 JR-4 PCGS VF30 CAC 10C                      1829 JR-4 PCGS AU55 10C

            

 

Global Financial News

Equity markets took a small tumble on Monday though the financial news media amplified the losses, "worse DJIA drop since October 2020" screamed some headlines. The Covid-19 "Delta" variant is being blamed for heightened equity risks.

During the day, the 10 Year U.S. Treasury bond yield dropped to below 1.2% with also added fuel to the Covid-19 induced pessimism.

Let's not forget that equity markets do not move in a perfectly linear manner. Markets are driven by logic, greed and fear. On certain trading days, fear has the upper hand.

We must remember that U.S. Treasuries with a 1.2% yields are still a much better place to park cash as compared to European or Japanese government bonds. Are we feeling better? I certainly am. Following are morning market futures, courtesy of Seeking Alpha, with U.S. equities positioned for a positive open.

In Asia, Japan -0.96%. Hong Kong -0.5%. China -0.1%. India -0.5%.

In Europe, at midday, London +0.7%. Paris +0.9%. Frankfurt +0.6%.

Futures at 6:20, Dow +0.5%. S&P +0.4%. NASDAQ +0.4%.

WTI crude oil pricing took it on the chin on Monday and has fallen to $66.62/bbl. Hopefully, the drop will translate into lower summer gasoline prices.

Paper gold increased during a flight to safety trading day. The Tuesday morning quote is $1816/oz. Bitcoin did not fare well with a drop to $29,715.

 

Wrapping Up The Blogw

So ends another Daily Blog edition. I hope that the visit was enjoyed.

It is time for Buddy the Dog's morning walk followed by a shower and responding to overnight orders. The balance of the morning into early afternoon will find me in the packing and shipping department with a huge outgoing day.

Thanks for checking in. Be well and safe.

 

 

 

 

July 19, 2021

Tenafly Collection CAC Approved Liberty Seated Quarter Set Sales - Announcing Auction Dates

and

Tenafly Collection CAC Approved Liberty Seated Quarter Set Sale - Part 1 Gallery

 

Greetings and welcome to the Blog on a Monday morning. It is raining again, at least for a few morning hours.

I'll be to the point in today's Blog edition.... I'm a bit worn out and not in a bright and sunny mood. Might as well be honest about it without sugar coating. Whatever illness that was acquired at Summer FUN or during the return trip is still with me and needs to run its course. Working continuous days with low energy takes its toll on a disposition.

Sunday brought a long day in the GFRC office wrapping up the Branch Mint Collection auction sale followed by preparing the COIN system and image gallery for the Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale offering. Invoices were issued for the Branch Mint Collection along with posting unsold lots on the price list and Collectors Corner.

By early afternoon, it become apparent that the Tenafly sale should be split into two sessions. A call to the consignor confirm the thought process as Tenafly shared the same considerations. 119 Liberty Seated quarter lots is a large number to be absorbed financially in one auction session for GFRC community members. As a result, the Tenafly sale will be brought to market across the month of August in two sessions. The first group (1838-1859 dates) will be auctioned from July 31 through August 6. The second group (1860-1891 dates) will be sold between August 21 through August 28.

Today brings about a substantial amount of shipping. The Hoosier Collection has requested that his residual AU58 Liberty Seated quarters (mostly NGC non-CAC) be shipped back. I took a shipping break on Saturday, therefore today's outgoing packages include Friday and Saturday arriving payments plus Quick Ships. Packing and shipping will keep me busy well into the afternoon.

To those readers who are sending emails with questions for the Blog, or need special consulting, these requests will be tabled until I am "caught up" with the Tenafly Collection launch. Everyone prefaces their special request with an acknowledgment that I am super busy, but still make the request regardless. Yes, I am fully consumed at this point since being the only individual operating a complex business platform and maintaining a homestead. Other numismatic businesses of this size are staffed by several individuals or more. If your requests for phone call consulting or other special investigations on my part are not responded too, it is due to Gerry setting priorities for the must get done business items. I'm to the point of preserving an hour of evening personal time for mentally unwinding before hitting the sack.

 

Tenafly Collection CAC Approved Liberty Seated Quarter Set Sales - Announcing Auction Dates

The next GFRC Online Auctions event brings a noteworthy offering from the Tenafly Collection consignor. After building a most impressive set of CAC approved Liberty Seated quarters, this individual is moving back to his first passion, Liberty Seated dimes. The Tenafly auction goal is to raise a substantial amount of numismatic capital to enable the building a top end Liberty Seated dime date and mintmark set. Those of us who have walked down this path can empathize on the degree of difficulty and funding demands.

The Tenafly Seated quarter set was carefully assembled with originality being the imperative. By using CAC approval as the proxy for originality, our friend worked tirelessly to fill in each date and mintmark along with the major die varieties. Collecting at a uniform grade level was not the goal, though most will be found at the EF45 through AU55 grades. Instead, unmolested surfaces and natural coin patina were sought. The Tenafly Collection brings a grade range that should satisfy the collecting needs of many in the community.

As mentioned in today's preamble, the Tenafly Collection will be sold in two sessions. Below are the fresh auction banners that will be employed within the Daily Blog, the GFRC Online Auctions link, and for marketing the sales within the Liberty Seated Collectors Club's August E-Gobrecht issue. Each banner showcases the auction opening and closing dates. The first session begins on July 31 for the 1838 through 1859 dated pieces with an auction closing finale on August 6. The Part 1 online catalog will be posted at the Auction link by no later than Thursday. Already, the framework for the sale has been installed on Sunday.

 

 

 

Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale - Part 1 Gallery

It is tradition, at GFRC, that every major consignment is showcased in the Daily Blog via a pictorial gallery.

Today brings the a host of wonderful Liberty Seated quarter offerings from the Tenafly Collection. I've taken the liberty of placing the four Gold CAC approved quarters, among the Part 1 (1838-1859 dates) as the opening marquee selections. Believe me, there are more Gold CAC pieces to come during the Part 2 auction.

I hope that you can find a few spare moments to review the accomplishment of a passionate numismatist. Constructing an all CAC approved set of Liberty Seated quarter is not for the casual collector. One must be focused and driven to constantly be on the watch at multiple online dealer websites for the appearance of potential candidates.

My congratulations go out to the Tenafly Collection consignor as a friend and fellow numismatist. We are indeed a tireless breed!

 

Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale

Part 1 Sale - Presentation Gallery - Bidding Opens July 31, 2021

 

1853 Arrows & Rays PCGS AU50 Gold CAC 25C                       1854 Arrows PCGS AU55 Gold CAC 25C

    

1854 Arrows PCGS AU55 Gold CAC 25C                                   1856 PCGS AU55 Gold CAC 25C     

    

1838 No Drap PCGS AU53 CAC 25C           1839 No Drap PCGS AU50 CAC 25C      1840-O No Drap PCGS VF35 CAC 25C

            

 1840 Drap PCGS AU50 CAC 25C             1840-O Drap PCGS AU55 CAC 25C                   1841 PCGS EF40 CAC 25C    

            

1841-O PCGS EF45 CAC 25C                     1841-O DDO PCGS AU53 25C                    1842 PCGS AU53 CAC 25C  

            

1842-O Lg Date PCGS VF25 CAC 25C                 1843 PCGS AU53 CAC 25C                   1843-O PCGS VF35 CAC 25C      

            

1843-O Lg O PCGS F15 CAC 25C                   1844 PCGS AU53 CAC 25C                      1844-O PCGS EF45 CAC 25C  

            

1845 PCGS AU50 CAC 25C                       1846 PCGS AU53 CAC 25C                       1847 PCGS MS63 CAC 25C

            

1847 DDR PCGS VG08 CAC 25C                 1847-O PCGS VF30 CAC 25C                     1848 PCGS EF45 CAC 25C    

            

1849 PCGS EF45 CAC 25C                       1849-O PCGS F12 CAC 25C                     1850 PCGS AU55 CAC 25C

            

1850-O PCGS EF45 CAC 25C                     1851 PCGS EF45 CAC 25C                      1851-O PCGS F15 CAC 25C

            

 1852 PCGS AU53 CAC 25C                     1852 RPD PCGS F12 CAC 25C                   1852-O PCGS VF20 CAC 25C

            

1853 No Arrows PCGS F15 CAC 25C           1853/4 A&R PCGS VF25 CAC 25C            1853-O A&R PCGS VF20 CAC 25C  

            

            1854-O Arr PCGS AU50 CAC 25C       1854-O Huge O PCGS VG10 CAC 25C    1854-O Crumbled Die PCGS VF20 CAC 25C

            

  1855-O Arr PCGS VF20 CAC 25C             1855-S Arr PCGS F12 CAC 25C                   1856 MPD PCGS F12 CAC 25C  

            

1856-O PCGS EF45 CAC OGH 25C             1856-S PCGS VF35 CAC 25C                   1856-S/S PCGS AG03 CAC 25C  

            

     1857 PCGS MS65 CAC 25C                       1857-O PCGS EF40 CAC 25C                   1857-S PCGS EF40 CAC 25C  

            

   1858 PCGS EF45 CAC 25C                       1858-O PCGS EF40 CAC 25C                   1859 I/I PCGS AU53 CAC 25C  

            

 1859-O PCGS AU53 CAC 25C                       1859-S PCGS F15 CAC 25C  

       

 

Global Financial News

The rising number of Covid-19 Delta infections throughout the globe is weighing on equity markets. Britain, Israel, Netherlands, and Australia have all increased movement restrictions with some reimposing lockdowns. It has been awhile since starting a business week with global market futures solidly in the red. This week might bring an overdue correction after markets have set new records during June and July.

Most worrisome is the 10 Year Treasury bond yield dropping to 1.26%. The rush to the safety of Treasury bonds resulting in ever lower yields is disconcerting and probably warrants a call with my money manager. Sometime does not make sense at this time.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan -1.3%. Hong Kong -2.2%. China flat. India -1.1%.

In Europe, at midday, London -2.1%. Paris -2.1%. Frankfurt -2%.

Futures at 6:20, Dow -1.1%. S&P -0.8%. NASDAQ -0.4%.

Crude pricing has quickly dropped below $70/bbl now that OPEC+ has reached agreement on higher production levels. Paper gold is holding at $1802/oz.

 

Wrapping Up The Blog

Another full office day awaits me along with taking care of Buddy the Dog.

Thanks for checking in at the Blog. Be well!

 

 

 

 

July 18, 2021

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Realizes $243,155

Tenafly's CAC Approved Liberty Seated Quarter Set Sale Details on Monday

and

Three Mint State Carson City Liberty Seated Dimes to Consider

 

 

Greetings from southern Maine on a cold and wet Sunday morning.

Another wet weekend is on hand for the Maine tourism industry. Rains started on Saturday afternoon and was steady during the overnight hours. Given the drought conditions out West, I'm most pleased to see Maine's weather pattern shifting towards wet conditions. The patched areas in the homestead back lawn are finally turning green as the Kentucky bluegrass exerts itself among other broad leaf grass that I consider to be weeds.

Saturday brought an exciting and downright lucky day in the back 20 acres. I've shared the events with close friends and may discuss at a later time.

 

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Realizes $243,155

 

All eyes in the GFRC community were fixated on the closing of the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale auction during the evening hours. I'm pleased to report that the sale was a success with 65% of the lots selling at strong reserves. Total proceeds for the consignor amounted to $243,155 to date. Today brings the posting of the residual lots to the GFRC price list along with Collectors Corner. There are several compelling post auction buys to consider.

Within an earlier Bog edition, I tendered several prices realized predictions for three of the most viewed pieces in the sale. The predictions were based on the amount of dealer and collector attention received at the Manchester NH and Summer FUN displays along with where the reserves were set. Well, the results are in and time to conduct a check of results against those predictions. Life long learning takes place when analyzing past statements and determining their accuracy.

Let's start with the 1875-S BF-13 PCGS MS66+ double dime. This piece was one of the two most viewed offerings in the auction. This double dime stood out from day one as an absolutely stunning gem and was promptly selected for the GFRC Online Auctions sale banner. My prediction was $16,500 as the final bid price.

Outcome? There was only a single bid for the coin made by me. At $11,500, I believe this piece was attractively priced and placed a bid. My expectations were to be out bid several times but no one stepped forward. Therefore GFRC is the proud owner of this marvelous superb gem double dime. My plan is to place this one on the price list in the coming days.

 

1875-S BF-13 PCGS MS66+ CAC 20C - $11,500 Reserve - Realized $11,500

 

Next on the most viewed lots at the Summer FUN display was the 1839-O F-104a PCGS MS66+ CAC Liberty Seated dime. Eye appeal is breath taking along with the horizontal late die state reverse die crack for the variety. My prediction had been an ending bid of $21,000 or more?

Outcome? There was only a single bid at the $18,000 reserve. Congratulations to the new owner for securing this superb gem at an attractive price.

 

1839-O No Drapery F-104a PCGS MS66+ CAC 10C - $18,000 Reserve - Realized $18,000

 

Lastly was the amazing 1872-S Seated half. It is difficult to locate a set of adequate superlatives to describe the final of the top three Branch Mint Collection lots that were viewed and drooled over at the Summer FUN display. This 1872-S Liberty Seated half is a multi-colored headlight with sharp reflective luster. My prediction was that the low $20,000 range would be necessary to secure this gorgeous gem.

Outcome? It appears that I was 1/3 for predictions as this one sold for exact where it was expected to close. Five bids brought the bid from the initial $16,000 reserve to a $21,505 winning bid.

 

1872-S WB-1 PCGS MS65 CAC 50C - $16,000 Reserve - Realized $21,505

 

Hindsight is always 20:20 as they say. Overall, I am pleased with the Branch Mint Collection sale outcome and hope that the consignor shares the same feelings. Once the remaining lots reach the price list and Collectors Corner, I'm certain there will be additional sales.

The Branch Mint Collection sale was an opportunity for several GFRC clients to secure substantial upgrades for their Open Set Registry collections. Thanks to everyone for the consideration and bidding.

 

Tenafly's CAC Approved Liberty Seated Quarter Set Sale Details on Monday

Up next for the GFRC Online Auction platform is a thrilling sale for sure! The Tenafly Collection's CAC Approved Liberty Seated Quarter Set Sale will garner substantial attention by a wide range of collectors given the 119 lots and individual lot price points. Without doubt, this sale will enable more bidders since serious Liberty Seated quarter collectors will have a host of upgrade possibilities.

Today brings the construction of the Tenafly auction banner and the finalization of all images. Come Monday's Blog edition, the upcoming sale schedule will be announced. Shortly there after will be the traditional client gallery display, in the Blog, of all lots.

 

Three Mint State Carson City Liberty Seated Dimes to Consider

How about three Mint State Liberty Seated dime, all struck at the Carson City mint, to start your potential shopping day?

Following are three special dimes. The 1877-CC F-110 PCGS MS66+ was acquired at the Summer FUN show at an attractive price and will be offered at a tempting level. To spice up the offering, I visited a double row slabbed box which contains the last of my CAC approved web-book plate coins. The 1875-CC IW F-115 PCGS MS63 CAC will not last long on the price list given its price point, shattered reverse, and eye appeal.

Would you believe that the 1876-CC F-131 PCGS MS64 CAC dime has been in my collection since the early 2000 time frame and was not utilized as a plate coin? Instead, a dark EF45 was shown. This injustice will be corrected in the next 48 hours with the new plate coin being available. The high grade will allow the new owner to view every minute rust spot on the dies.

If wishing to have first shot at any of these dimes, just send an email. This I can still manage regardless of workload.

 

Three Mint State Carson City Liberty Seated Dimes to Consider

1877-CC Type 2 F-110, PCGS MS66+ CAC 10C

1875-CC IW F-115 PCGS MS63 CAC 10C                                     1876-CC F-131 PCGS MS64 CAC 10C

    

Wrapping Up The Blog

Today brings a full day in the GFRC office given the weather conditions. I'm too old to be playing in the rain.

Look for a price list update later this morning with the residual Branch Mint Collection lots. My next morning act is to update the COIN database with auction results followed by issuing invoices to successful bidders. For well established clients, your lots will ship early this coming week.

GFRC continues to buy outstanding coins along with taking receipt of fresh consignments. Please keep checking back at the Blog and the 30 Day List for the latest offerings.

Wishing everyone a pleasant balance to the current weekend.

 

 

 

July 17, 2021

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Closes at 9:00 PM

 

Greetings and welcome to the Blog on a mid-July Saturday morning. Time is moving along much too quickly.

There are a host of plans for today given the shift in weather conditions. 6:00 AM sees a 66F temperature that will only climb a few degrees into the afternoon hours. Clouds will prevail along with the arrival of evening rains that continue into Sunday. What an ideal situation for another brush burning event in the back acreage. My goal is to be burning by 1:00 PM and clearing out several piles of aging brush and branches from last year's trail cutting.

Today's Blog will be brief as there is a substantial amount of shipping to process followed by a Raymond post office drop-off and fire station visit to secure a burning permit.

 

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Closes at 9:00 PM

After a period of initial bidding followed by a quiet week, the Branch Mint Collection sale closes this evening at 9:00 PM.

All that can be said concerning the importance of these high grade branch mint lots has been documented by Len Augsburger and myself. These GFRC Online Auction offerings are in a league of their own and would become prized additions to many Liberty Seated coinage sets under construction.

Bidding decisions now rest with the GFRC community.

Within Friday's Blog edition, the unattached lots were illustrated. Do you want some advice from the proprietor's perspective? Since being privileged to have this exceptional lots at the GFRC office, I am blessed with their presence and the ability to study each piece for its beauty and strict originality. After careful considerations, the following pieces are JUST BUY IT NOW candidates if having obtainable numismatic capital.

Half Dimes

Though available in Mint State, the Branch Mint Collection's 1848-O is a magnificent gem that is sharply struck along with superb luster and cartwheels. This piece would nicely elevate an advanced Seated half dime collection.

Dimes

I've previously discussed the 1838-O F-102 in the Blog. Due to being sick and remaining in home isolation, there was no change to visit the Windham bank box towards pulling the current 1838-O in my core Liberty Seated dime set. Is the Branch Mint Collection example more eye appealing that mine. From a die variety perspective, this F-102 specimen brings heighten significant than the F-101 specimens that were initially saved.

Quarters

The Branch Mint Collection Seated quarters have seen the least amount of bids. I'm surprised by this fact.

The 1851-O PCGS MS63+ quarter is just a tick away from being the finest known. The 1853-O PCGS MS64 quarter is the single Mint State example with CAC approval and a huge statement of its importance. The 1874-S PCGS MS66 CAC is an absolute gem with tons of old time luster.

Halves

The Branch Mint Collection Liberty Seated halves includes three unattached pieces that are simply incredible.

The 1847-O PCGS MS65+ Gold CAC is a wonder coin with an incredible pedigree that includes Stickney, Clapp, Eliasberg, and Gardner. While in the Gardner Collection, this piece was graded NGC MS66.

Someone must step up and take the 1853-O PCGS MS64 CAC offering home as this lot is a no-brainer. The 1853-O date is very difficult in Mint State. This condition census specimen is an excellent value (as priced at the CAC Guide) with a one point higher grade bringing multiples of the reserve. My gut feel is that this offering will be scooped up in the final hour of bidding.

Also note the technical superiority and eye appeal of the 1854-O PCGS MS65 CAC offering. Thought not a rare date or rare grade, this specimen is aesthetically thrilling and will enhance any high end Liberty Seated half dollar collection.

Summary

Let's remember that the 2021 numismatic market finds itself in an inflationary cycle along with a host of new collectors entering the market after Covid-19 isolation. Prices for non-depreciating physical assets are rising quickly. Frankly, high end coins are still seen as lagging as compared to real estate and art.

I will certainly be sitting in the office at 8:00 PM and plan to watch the final hour of bidding. Given the importance of the Branch Mint Collection offerings, there is a conviction that lurkers will appear during the closing bidding period. The ultimate question is who will take theses gems home rather than prices realized.

Good luck to potential bidders.

 

Wrapping Up The Blog

So ends today's early morning commentary. Up next is a shower followed by acknowledging overnight orders and a host of shipping. Included in the shipping queue is a CAC submission.

Please check back on Sunday morning for a longer Blog edition.

Be well and safe!

 

 

 

July 16, 2021

Summer FUN New Purchases - Let's Start with Gold Dollars

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Closes on Saturday

and

GFRC Consignment Window is Open for August/September Postings

 

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

Yes, I'm feeling much better with normal energy levels after another night with ten hours sleep. A sincere thank-you to everyone who was concerned about my health including those who suggested a Covid-19 test. Being practical on the matter, I'm home alone for another nine days and received the Moderna vaccine during April/May. If the current health issue was Covid, I might as well just tough it out at home with Buddy the Dog.

Friday started at 5:00 AM and already the 97% humidity was apparent. Today brings an indoor day with a huge amount of image processing in front of a floor fan as temps will peak at 90F. The weather forecast shifts during the weekend with cooler temps and more potential rain. You can bet that I will be heading to the back 20 acres to burn several brush piles along with digging the water diversion channel at the stone wall entrance. Dave Wilkinson stopped by this week and left a lovely pile of 1.5" stone that will be consumed before Diane returns.

 

Yesterday brought a several hour photography window which I took advantage of. The smaller sized coins from Summer FUN were photographed along with the balance of the upcoming Tenafly CAC Approved Liberty Seated Quarter Collection auction items. It was a partly cloudy day with photography taking place during occasional periods of sunshine between passing clouds. Why give priority to smaller sized coins? These are much easier to photograph with just one obverse and reverse image per coin. Larger coins bring the possibility of TPG holder light reflections and must be shot at different sizes. This take precious time during a period a transitory cloud cover.

 

Summer FUN New Purchases - Let's Start with Gold Dollars

Your GFRC team was focused on several inventory objectives while at the Summer FUN show. One of our missions was rebuilding the U.S. gold price list and that we did. The second goal was raising the value of GFRC offered coins and beginning the migration into five figure items. Dan and I worked unrelentingly to locate fresh offerings that were consistent with our objectives. The upcoming Blog new purchases displays will demonstrate the fruits of our labors.

Today brings a lovely group of Gold dollars to whet your appetite. We open the gallery with two marvelous pieces; Type 1 1850-D PCGS AU58+ CAC and a Type 3 1873 Closed 3 PCGS MS64 CAC. Both pieces are obvious gems. The 1850 Dahlonega strike is exceptional and a Pop 1 at the AU58+ grade level. The base layer of green gold is nicely decorated by peripheral rose-gold shades. CAC pop report indicates only three finer. The 1873 Closed 3 is obviously proof-like and another CAC grade rarity. There are five approved in MS64 with a lone MS66 finer.

The balance of the group is CAC approved except for the Type 2 1854 and 1855 dates. Type 2 gold dollars are nearly impossible to stock as a scarce type coin. GFRC will purchase these two dates on an ongoing basis and that we did at Summer FUN. Please pay attention to the 1861 dollar graded NGC AU55 CAC. CAC populations are quite low in circulated grades. This piece is an unquestionable gem for the grade and should not last long on the price list.

 

Summer FUN New Purchases - Let's Start with Gold Dollars

  1850-D PCGS AU58+ CAC G$1                                                1873 Closed 3 PCGS MS64 CAC G$1

    

         1853-O NGC AU55 G$1                         1854 Type 2 NGC AU58 G$1                      1855 Type 2 PCGS MS61 G$1

            

1857 NGC AU53 CAC G$1                            1861 NGC AU55 CAC G$1                       1874 PCGS MS64 CAC G$1 

            

 1874 PCGS MS61 CAC G$1

 

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Closes on Saturday

Another GFRC Online Auctions event is due to wrap up in the next 36 hours.

The Branch Mint Collection sale will close on Saturday evening at 9:00 PM. Bidding during the week has been quiet as the major players are waiting for the closing hour to place their bids.

There are many unattached pieces in the Branch Mint Collection that warrant your attention. How about a gallery of the remaining pieces that are available?

Liberty Seated Half Dimes

 1848-O V-4 PCGS MS66+ H10C

    

1855-O V-1a PCGS MS65 CAC H10C                                           1860-O PCGS MS65 CAC H10C   

    

Liberty Seated Dimes

1838-O F-102 PCGS MS64+ CAC 10C

     1842-O F-105 PCGS MS63 CAC 10C                                       1873-S F-101 PCGS MS64+ CAC 10C

    

 Liberty Seated Quarter Dollars

1851-O Briggs 1-A PCGS MS63+ 25C

1853-O Briggs 1-B PCGS MS64 CAC 25C

1854-O Briggs 2-E PCGS MS64 25C     

    

1874-S Briggs 1-A PCGS MS66 CAC 25C                                     1891-O Briggs 2-B PCGS MS64 25C

    

Liberty Seated Half Dollars

1847-O WB-22 PCGS MS65+ Gold CAC 50C

   1853-O A&R WB-21 PCGS MS64 CAC 50C                             1854-O Arrows WB-31 PCGS MS65 CAC 50C

    

Trade Dollar

1877-S PCGS MS65+ CAC T$1

 

Branch Mint Collection lots that do not meet reserves will be posted to the GFRC price list and Collectors Corner come Sunday morning. Now if the time to consider if one of these gems belongs in your collection.

 

GFRC Consignment Window is Open for August/September Postings

I'm pleased to report that GFRC is accepting new consignments for the months of August and September. I am aware of at least one potential collection offering for the GFRC Online Auctions platform that might be ready to ship next week. This auction lot is targeted for the September timeframe.

In terms of regular consignments, I must limit the value of individual coins to at least $200. Secondly, GFRC will no longer entertain raw coins. An exception on the minimum $200 coin value will be made if a consignment size is substantial with the tail of the pricing distribution dipping below the $200 threshold.

There is a shortage of fresh coins in today's market. Now is the time to consign your quality duplicates, or an entire collection, to GFRC. 2021 sales results have been outstanding for most consignors.

 

GFRC Is Not Attending Summer ANA

GFRC will not be attending the Summer ANA show in lieu of enjoying ten plus days in the office to support consignments and new GFRC Online Auctions material. For readers who are not coin dealers, please understand the amount of time and effort that is necessary when committing to a large show. Inventory packing takes a day followed by traveling to the hosting city, in this case, a two day road trip to Chicago. Once the ANA show is completed, there is two days of return travel time followed by several days of accounting and re-assembling office inventory. Shipping also becomes severely backed-up when I attend a major show. Attending the Summer ANA would have taken at least ten days away from the office along with several days of recovery time. No new GFRC offerings would be posted to the price list for over two weeks which is unacceptable for an online retail platform.

 

Global Financial News

U.S equity markets are in a wait and see mode during the Q2 earning reporting season. Markets remains at close to record levels with additional upside potential. Interestingly, the Daily Reckoning and Seeking Alpha headlines are focused on a stock market crash due to inflated valuations. These "financial" newsletters continue to stock fear and hope to be proven correct at some point.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan -1%. Hong Kong +0.4%. China -0.7%. India flat.

In Europe, at midday, London +0.2%. Paris -0.5%. Frankfurt flat.

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

WTI crude pricing has been knocked down a bit more with a quote of $71.45/bbl. Gold is attempting to hold on to recent gains at $1820/oz. The 10 Year Treasury bond yield stands at a low 1.32%

The following Seeking Alpha concerning CBDC (Central Bank Digital Currencies) is one of the most insightful that I have seen. The differences between cryptocurrencies, regular credit/debit cards and now, central bank digital currencies are clearly explained and worth a read.

Talk about digital currencies is heating up after the ECB launched the investigation phase of its digital euro project. However, many are still asking how the tender would differ from the electronic money we use today via credit cards, online banking and popular payment app Venmo . Definitions first... While there are many descriptions of "digital currencies," they are broadly broken down into three categories.

Decentralized cryptocurrency: These are unregulated offerings like Bitcoin, Ethereum, Ripple, and Dogecoin. Since they are issued by a network, and not any central authority or government, they are often volatile, but can also be exchanged for goods or services like traditional currencies. Cryptos often use distributed ledger technology (like blockchain) that can confirm valid tokens and log transactions.

Stablecoins: These also use distributed ledger technology, but they attach the value of tokens to something that already exists. By pegging the asset to the dollar, a basket of currencies, or commodities like gold, these currencies are more grounded and reduce volatility. The most famous example of this is Facebook's Libra project, now known as Diem, which recently relocated its main operations from Switzerland to the U.S. as it scaled back its global ambitions.

Central bank digital currency: Otherwise known as CBDCs, these tokens represent a nation's fiat currency. They are a way for central banks to have a voice in the emerging industry as more "digital money" comes into the economy. Some central banks are looking to get some skin in the game by issuing CBDCs, while some are more concerned about the threat of stablecoins and decentralized finance.

How do CBDCs differ from electronic cash? When you deposit money into a bank account, the commercial entity takes responsibility for the sum. The cash is then held in electronic form and can be used across a variety of platforms, but it's limited to the bank's ledger. Companies like Venmo can even track electronic transactions on its own internal ledger system, but the money is still being held and tracked by a commercial bank provider. In the case of CBDCs, the government is the counterparty and takes liability for the money, while the ledger that's being used (known as the rails) can be a very different structure than a commercial institution.

Meet the rails: In the U.S., the ACH Network is the national automated clearing house (ACH) for electronic funds transfers. It typically takes three days to clear a transaction as it travels along the payment highway infrastructure. There are also wire transfers and credit card payments that are handled by separate networks. In creating a CBDC, the Fed would develop a new set of rails that could allow money to move faster, meaning rapid transfers for things like unemployment benefits and stimulus checks.

Outlook: Besides being quicker, Treasury Secretary Janet Yellen has said the rails would be cheaper and safer. While the central bank would want to maintain competition with its new offering, it would also seek to operate its innovations in tandem with cash and other forms of payment. There are additional privacy concerns that would have to be addressed, like the ability for a central bank to monitor every transaction that is using CBDCs in real-time. 

 

Wrapping Up The Blog

Now that I am feeling back to normal, today brings a busy office day. There will be no shipping this morning. Instead, my focus will be on image processing and constructing an image gallery for the Tenafly CAC Approved Liberty Seated Quarter Set Sale along with posting today's featured gold dollars to the price list. Yes, the homestead lawn also needs to be mowed.

Please keep those orders coming as GFRC still offers a host of quality early type coins and U.S. gold.

Thanks for checking in at the Blog.

 

 

 

July 15, 2021

Southern Texas Duplicates Consignment Arrives!

and

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Finale is Approaching

 

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

Finally the GFRC office has been brought back to working order. Inventory is nicely organized including a double row slabbed box of new purchases awaiting sunny weather. The Tenafly CAC Approved Liberty Seated Quarter Set Sale pieces have been separated into those with prior imaged (former GFRC purchases) and those requiring photography. As you can guess, the prime constraint is Maine weather as today brings yet another overcast day with occasional morning rain. What a difference than living in Florida where every day is typically blessed with bright sunshine.

My post FUN show cold, or whatever this thing, is has been challenging to deal with. Last evening brought eleven hours of sleep with no improvement of symptoms. Once the Blog and morning shipping is wrapped up, I may head back to bed. Please understand that email response will be protracted until this flu subsides.

 

Southern Texas Duplicates Consignment Arrives!

The Southern Texas consignor has been patiently waiting for his consignment to be posted to the price list. This offering is the last of those to arrive before closing the GFRC consignment window back in mid-June. Luckily, the entire lot was photographed prior to Summer FUN which facilitates today client gallery posting. Those lots that were previously purchased from GFRC have been posted to the price list. The balance will be uploaded later today.

Consignment highlights include a rare 1891-O Seated quarter and a lovely 1873-CC Arrows Seated half for your consideration.

 

Southern Texas Duplicates Consignment Arrives!

           1891-O NGC F15 25C                                                   1873-CC Arrows PCGS EF40 50C

    

         1861 ANACS AU53 25C                              1875 PCGS AU55 25C                          1876-S ANACS EF40 OWH 25C

            

         1877-CC NGC AU50 25C                      1842 Sm Date ANACS EF45 50C               1842 Med Date PCGS EF40 50C 

            

 1846 Tall Date PCGS EF40 50C                  1846 Tall Date ANACS VF35 50C                          1847 PCGS EF45 50C        

            

 1857 PCGS EF40 50C                              1859-S PCGS EF45 50C                              1860 ANACS VF35 50C

            

1874-CC PCGS VG10 50C

    

 

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Finale is Approaching

Time moves along so quick including the remaining hours of the Branch Mint Collection auction sale. The sale closes on Saturday evening at 9:00 PM.

If history is a guide, there are expectations for renewed bidding on Friday along with an exciting sale closing period starting on Saturday early evening.

All lots are available at the Auction link in the header bar.

 

Global Financial News

U.S. equity markets remain at near record levels with the NASDAQ leading the way. With a resurging number of Covid-19 (Delta variant) spreading through the states, some investors believe that the working from home trend has long legs.

In Asia, Japan -1.2%. Hong Kong -0.8%. China +1%. India +0.5%.

In Europe, at midday, London -0.6%. Paris -0.8%. Frankfurt -1%.

Futures at 6:20, Dow -0.3%. S&P -0.1%. NASDAQ +0.4%

WTI crude pricing has pulled back due to ongoing disagreement between Saudi Arabia and the UAR on production levels. Pricing is down to $72.50/bbl.

Paper gold is sparkling this week with further increases to $1831/oz. Bitcoin is stuck in a tight trading range at $32,509.

The 10 Year U.S. Treasury bond yield has again dropped and is quoting at 1.33% on news that the Federal Reserve will continue its stimulus policy regardless of growing inflation in the U.S. economy.

 

Wrapping Up The Blog

Once again, please understand that email responses will delayed today. Actually, I'm heading back to bed for another hour's sleep before starting-up the shipping department.

Thanks for checking in at the Blog.

 

 

 

July 14, 2021

Summer FUN New Purchases Preview

and

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale is Underway

 

Greetings from the GFRC Maine and welcome to a brief Blog edition.

Southern Maine is shrouded in dense fog and another day of wet conditions. So much for Summer FUN new purchases photography until tomorrow.

One of the liabilities for attending coin show is the chance of catching the flu or another illness from table visitors. This is the case for Summer FUN where I've been infected with a nasty head cold. I could feel the arriving conditions on Monday followed by feeling less than normal on Tuesday. Crappy best describes today's situation thus a short Blog.

Office recovery is another issue after a major coin show, especially when being single handed. Monday brought show accounting and loading all new purchases and consignments into the COIN system. Tuesday was consumed with the shipment of fourteen packages along with merging most of the show inventory back with those coins that stayed behind in the safe.

Today brings yet more shipping and beginning to address on-hand consignments and the upcoming Tenafly CAC Approved Liberty Seated Quarter Set Sale preparations.

 

Reminders for Often Poised Questions

GFRC Price List Holds

One of the most common requests that I receive is to purchase a coin that already has a "Hold" status on the price list. To ensure that everyone is up to speed on this topic, a "Hold" status means that a coin is in the sales process or is on lay-a-way. The sale process can take several weeks given the need for a check to be mailed, the purchase shipped to the client followed by the acceptance period.

Requests for Full Obverse/Reverse Images

Another common request is for full obverse and reverse TPG holder images for coins. I get it as eBay requirements dictate complete holder images. At GFRC, my attention has always been on providing the best possible images of the coin being offered and not the holder. The holder is carefully described with its generation and production years.

As an example, an infrequent customer just emailed requests for three coins and desires to have completed obverse and reverse holder images for all pieces. Servicing these type of requests adds to workload and consumes precious time.

Requests to Trade a Coin against GFRC Purchase

If wishing to trade a coin against a potential purchase, please provide the courtesy of cellphone images and an asking price in trade. If a customer wishes to sell a coin, it is their responsibility to state an offer price. To often, the request is for a GFRC offer price with less than ideal images for consideration.

Consulting Requests for Rare Varieties

I deal with a host of individuals on a daily basis. The challenge comes with those who are inexperienced and become defensive when being told that their "special" raw branch mint proof coin (as this week's example) has been polished or their coin is a counterfeit. When asked for help, I will provide quick feedback on coins that come with adequate images. If I state that a coin is cleaned, polished, or is a counterfeit, it probably is. Please don't start arguing with me as the conversation will terminate at that point.

 

Summer FUN New Purchases Preview

Summer FUN brought a host of new purchases. Let's try a different approach to sharing the substantial number of new coins that will reach the price list in the coming two weeks. Sorry, but I am not collecting first shot requests at this point in time not will I provide on requests cellphone images. Please continue to check the 30 Day Price List and the Daily Blog concerning new purchases posting.

1860 PCGS 64+ CAC $1 Seated 40750998
1800 PCGS 40 CAC $1 Draped Bust 25300298
1849 NGC 50 $1 Seated 3476133004
1876 S PCGS 64+ CAC $1 Trade 41354572
1846 PCGS 58 $1 Seated 60057352
1859 O NGC 61 CAC $1 Seated 2594678001
1898 NGC 64 CAC $1 Morgan 24283619
1871 CC PCGS VF Details $1 Seated 42278691
1861 PCGS EF Details $1 Seated 36518316
1876 CC Double Die Reverse NGC 20 $1 Trade 68955116
1821 PCGS 58 CAC 10C Capped Bust 32607017
1829 Smalll 10C PCGS 55 10C Capped Bust 20111257
1829 Large 10C PCGS 63 CAC 10C Capped Bust 82905839
1825 PCGS 30 CAC 10C Capped Bust 24993901
1887 S PCGS 64+ CAC 10C Seated 32192010
1846 PCGS 25 10C Seated 12480856
1904 S PCGS 58 CAC 10C Barber 24104152
1873 With Arrows, Doubled Die Obverse PCGS 20 10C Seated 33289214
1877 CC Type 2 Reverse PCGS 66+ CAC 10C Seated 42140031
1908 PCGS MS64BN 1C Indian 28737751
1833 PCGS MS65BN CAC 1C Early Copper 21474998
1908 S PCGS 40 1C Indian 13636146
1909 S PCGS 45 1C Indian 31515437
1859 NGC PF64 CAC 25C Seated 6056841008
1840 Drapery PCGS 62 25C Seated 42582825
1913 D PCGS 55 25C Barber 38719232
1857 O PCGS 50 25C Seated 39116513
1868 S PCGS 64+ CAC 50C Seated 31855944
1859 PCGS PR66+ CAC 50C Seated 33513691
1849 PCGS 40 50C Seated 38821316
1882 PCGS 65 CAC 50C Seated 02490061
1906 PCGS 64+ CAC 50C Barber 39503931
1886 PCGS 65 50C Seated 35622477
1916 PCGS 64 CAC 50C Walking Liberty 36663353
1810 NGC 50 50c Capped Bust 3532090007
1811 Large 8 PCGS 45 50c Capped Bust 82480256
1817 PCGS 45 50c Capped Bust 25799716
1819 /8 NGC 55 50c Capped Bust 28005617
1827 /6 NGC 55 50c Capped Bust 28006212
1829 /7 PCGS 30 50c Capped Bust 2382785
1834 Large Date, Large Letters NGC 45 50c Capped Bust 3433789012
1873 No Arrows, Open 3 PCGS 35 50C Seated 21571359
1838 Large Stars NGC 62 CAC 5C Seated 5927595001
1860 PCGS 63 CAC 5C Seated 08865563
1833 NGC 58 CAC 5C Capped Bust 4767422004
1848 NGC 62 5C Seated 174299004
1829 PCGS 64 CAC 5C Capped Bust 8396791
1830 PCGS 40 CAC 5C Capped Bust 20673309
1832 PCGS 50 5C Capped Bust 15483155
1835 Large Date, Large 5C PCGS 45 5C Capped Bust 38790476
1853 No Arrows PCGS 58 5C Seated 42469867
1850 D Type 1 Liberty Head PCGS 58+ CAC G$1 Gold 34112177
1873 Type 3 Indian Princess PCGS 64 CAC G$1 Gold 42173027
1857 Type 3 Indian Princess NGC 53 CAC G$1 Gold 5853109002
1853 O Type 1 Liberty Head NGC 55 CAC G$1 Gold 5712042003
1861 Type 3 Indian Princess NGC 55 G$1 Gold 5853109005
1855 Type 2 Indian Princess NGC 61 G$1 Gold 6058149005
1854 Type 2 Liberty Head NGC 58 G$1 Gold 1652092001
1866 S Liberty PCGS 45 CAC G$10 Gold 25064567
1899 Liberty NGC 61 CAC G$10 Gold 144862010
1882 Liberty NGC 53 CAC G$10 Gold 2014039021
1854 O Liberty PCGS 45 G$10 Gold 39702984
1843 O Liberty PCGS 58 G$2.5 Gold 38605512
1903 Liberty NGC 65 CAC G$2.5 Gold 36629323
1850 O Liberty NGC 55 G$2.5 Gold 39066806
1889 S Liberty NGC 58 CAC G$20 Gold 2504013005
1873 Liberty NGC 55 CAC G$20 Gold 66052106
1900 Liberty PCGS 64+ CAC G$20 Gold
1900 Liberty PCGS 64+ CAC G$20 Gold 42194228
1889 S Liberty NGC 60 CAC G$20 Gold 15973708
1900 Liberty NGC 63 CAC G$5 Gold 3275180001
1907 Liberty PCGS 64 CAC G$5 Gold 41437376
1852 D Liberty NGC 55 CAC G$5 Gold 1845692001

 

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale is Underway

The Branch Mint Collection auction sale continues to move forward.

Tuesday brought the total number of lots meeting reserve to 11 coins with an accumulated sale price of $182,000.

As mentioned during a conversation with the consignor on Tuesday, I am confident that a larger portion of the lots will be sold come Saturday. Many bidders enjoy waiting until the final few minutes of an auction to place their bids. It is the adrenaline rush of loading a large bid towards sniping a major rarity during the last seconds of an auction. Others simply wish to not show their hands early on to forgo a bidding war.

There are many amazing unattached Branch Mint Collection offerings at this point in time. Here are a few to consider. Someone must take the 1847-O PCGS MS65+ Gold CAC 50c home given its historical significance and well defined pedigrees.

 

1874-S Briggs 1-A PCGS MS66 CAC 25C

Gem Original, Branch Mint Collection Luster drips from both sides of premium Gem example, and the slightest tilt quickly reveals the situation, creating instant cartwheel rotation. A gold and olive skin covers both sides, more evenly on the obverse. The strong luster easily penetrates the medium shading and is completely unimpeded as it moves about the surfaces. Briggs 1-A, with an even date and small, squat mintmark. Briggs notes a hoard of this issue that surfaced from a west coast bank in the 1940s, and the population numbers are consistent. PCGS notes 39 pieces in MS66 with just five at the MS67 level. The situation is more competitive at CAC, with nine pieces in MS66 and a single coin at M67. Regardless of where this coin originated, there is no denying the overall "pop" revealed by an initial glance. Housed in a PCGS Gen 4.4 (2005-2011) holder with CAC approval. From the Jim O'Neal Collection (Heritage 1/2018, lot 3490, realized $5,520).

1891-O Briggs 2-B PCGS MS64 25C

Near-Gem Original, Branch Mint Collection An even, light gray skin covers both sides of this better-date Seated quarter, representing the final year of production for this long 19th century series. Additional bluish shades highlight the right obverse field in addition to the space above the left wing. Surfaces are prooflike, as is typical for high-grade 1891-O survivors. At least one piece has been certified as a branch Mint proof but more likely represents a somewhat more reflective example than typically seen. The strike of this example is needle sharp with completely defined stars and strong claw and feather detail. Briggs 2-B, with a date sloping upward and a tilted mintmark. PCGS notes only four pieces graded higher, including three coins at MS65 and a single piece at MS67+. With a mintage of 68,000 pieces, this coin is challenging in terms of both condition and absolute scarcity. Housed in a PCGS Gen 6.0 holder (2015-2020) with embedded hologram.

1847-O WB-22 PCGS MS65+ Gold CAC 50C

Gem Original, Branch Mint Collection Yet another Gold CAC piece from the Branch Mint Collection, this stone original 1847-O half is the epitome of originality, with antique surfaces graced by medium silver and gray skin. Fields are primarily silver, with smoky gray shades scattered about the rims on both sides. Nearly all star points are present if faint, while the reverse exhibits typical softness in the left claws. Surfaces are near perfectly smooth and a glass will be required to locate the few marks. WB-22, with obvious repunching on the 7, and a diagonal die line from H extending to the rim. Housed in a PCGS Gen 6.0 (2015-2020) holder with CAC approval. From the Gene Gardner Collection (Heritage 5/2015, lot 98468, there presented as NGC MS66 CAC, realized $30,550). Prior to Gardner this coin has a pedigree tracing to the early 20th century and including Stickney, Clapp, and Eliasberg. A finer pedigree is hard to imagine, with Eliasberg and Gardner in particular representing the finest ever collections of Seated coinage. Housed in a PCGS Gen 6.0 holder (2015-2020) with embedded hologram.

 

Global Financial News

U.S. equity markets saw a slight retreat on Tuesday after Monday's new record levels. Inflationary pressure is a play throughout the economy while the Federal Reserve is still conducting loose monetary policies. Home prices are under strong upward pressure well ahead of the numismatic market.

Following are morning market futures, courtesy of Seeking Alpha, for those who are curious.

In Asia, Japan -0.4%. Hong Kong -0.5%. China -1.1%. India +0.3%.

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

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

Today's WTI crude readout has the black gold priced at $74.79/bbl. Paper gold has taken an overnight jump to $1817/oz. Bitcoin is flat at $32,486.

The 10 Year U.S. Treasury bond yield is quoting at 1.37%.

 

Wrapping Up The Blog

Honestly, I'm not feeling well and will be heading back to bed after taking Buddy the Dog out for his morning bio needs.

Please have patience if not receiving responses to email purchase requests or phone calls.

I will be back tomorrow with another Blog edition.

 

 

 

 

July 13, 2021

GFRC Office Recovery Moving Along Nicely

A Coaching Paradox

and

Ledge Hill Trail Washout and Repairs

 

 

Greetings again from the GFRC Maine office and welcome to a Tuesday's ramblings. Thanks for stopping by!

Southern Maine weather has made a dramatic shift to cool wet conditions. Today's high temp will only reach 66F with occasional showers and thick clouds. Wednesday will bring bright sunshine and thunderstorms. As a result of heavy rains, while at Summer FUN, the reseeded backyard lawn patches are exhibiting a green hue as the Kentucky bluegrass begins to emerge. I'm "cool" with the wet conditions as long as an hour of sunshine appears soon to start photographing new purchases.

 

GFRC Office Recovery Moving Along Nicely

Monday was a recovery day in the GFRC office. All the FUN show accounting has been entered in the COIN system. Online purchases are loaded in shipping boxes. Check payments, that arrived while at FUN, are also processed. Time was found to focus on the upcoming Mega Winter Baltimore show and email conversations with Lori Kraft. GFRC is committing to a substantial booth footprint for the Baltimore show. Unfortunately, that show is scheduled for the weekend prior to Thanksgiving week and will delay our usual Florida migration plans.

Today's office priorities are morning shipping on a solo basis as we find Diane at Renee's home in Austin. Afternoon brings potential photography (praying for sunshine) and merging Summer FUN inventory with those coins that remained behind in the office. This process is critical as new purchases, embedded in Summer FUN inventory, are separated and queued for photography.

Overnight bidding for the Branch Mint Collection auction sale was quiet. The sale stands at 10 lots meeting $175,000 in reserves.

 

Seth Godin Blogpost: A Coaching Paradox

I found the following Seth Godin blogpost to be particularly interesting and applicable for those who are serious collectors. Coaching is key for top level performers in sports and the music world. Personal coaches in the business world as typically known as mentors. Unfortunately, many in the business world attempt to go it alone and learn through the school of hard knocks and mistakes. Those individuals that realize the importance of mentorship typically enjoy a long term career with growing responsibilities.

The same can be said for the numismatic hobby. Some collectors go it alone and trust their own instincts. The result can be a host of mistakes that are often referred to as the skeletons in the closet. Eventually, go it alone collectors must come to grips with their skeletons and take losses. Blaming dealers for being unable to sell skeletons at their purchase prices is a losing strategy. If failing to seek mentorship early on, those mistakes must be dealt with eventually.

Sophisticated collectors understand the importance of mentorship and seek coaching as they expand their hobby presence. Coaches can be fellow numismatists with market experience or developing a close relationship with a dealer that specializes in a particular hobby genre. During my semiconductor and numismatic careers, mentors were paramount for rapid learning and mistake avoidance. For example, my three key mentors were Brian Greer, Chris Pilliod, and Jim O'Donnell. The fact that each individual shared their insights and advice unselfishly ultimately brought about an important Liberty Seated dime research outcome (The Definitive Resource for Liberty Seated Dime Variety Collectors) and the GFRC business platform.

Please give a serious read to today's Seth Godin blogpost. If you are going it alone with respect to a numismatic hobby, please stop and consider the advantages of locating an experienced mentor.

A coaching paradox

At the top tier of just about any sort of endeavor, you’ll find that the performers have coaches.

Pianists, orators and athletes all have coaches. In fact, it would be weird if we heard of someone on stage or on the field who didn’t have one.

And yet, in the world of business, they’re seen as the exception.

Part of the reason is that work feels like an extension of something we’ve been doing our whole lives. Figure skating isn’t like school, but showing up at work seems to be. “I’ve got this,” is a badge of honor.

And part of the reason is that a few coaches have made claims that stretch belief, and we’re not actually sure what they do. It doesn’t help that there’s no easy way to identify what sort of coach we need or what we’re going to get…

It turns out that the people with the potential to benefit the most from a coach are often the most hesitant precisely because of what coaching involves.

Talking about our challenges. Setting goals. Acknowledging that we can get better. Eagerly seeking responsibility…

And yet we avert our eyes and hesitate. It might be because having a coach might be interpreted as a sign of weakness. And what if we acknowledge our challenges but fail to overcome them? It could be that we don’t want to cause change to happen, or that we’re worried that we will.

One company I admire believes in coaches so much that they’ve put several on staff, ensuring that their leadership all benefit from one. But mostly, it’s something we have to pay for ourselves.

And so, paying for a coach, for something that’s hard to measure, which might be socially awkward, to get better at something that feels normal—combine that with a hesitancy to ask for help—it’s a wonder anyone has a coach.

The paradox is that the very things that hold us back are the reasons we need a coach in the first place.

 

Ledge Hill Trail Washout and Repairs

I knew this would happen! The nicely constructed gravel pathway through the back 20 acres project suffered an erosion issue during last week's heavy rains.

One of the challenges with living on the side of a hill is gravity. Water must flow downhill and typically erodes loose surfaces. So was the case for the top section of the new Ledge Hill Trails pathway as illustrated in the below image. Given the size and barrier that the stone wall presents to backyard water accumulations, rapidly moving rain water is channeled into the entrance. That channeling leads to erosion of unattached materials.

 

I shared the above image with Dave Wilkinson. His thought was to "crown" the pathway with 1.5" gravel for steering water flow along the sides of the pathway. Unfortunately, the terrain is sloped such that rushing waters must cross through the pathway from left to right at some point leading to severe erosion that will need constant repairs.

Instead, I've decide to clear off the existing gravel (and weed mat) followed by digging out the entrance area, between the stone walls, and will install a rock bed channel that will guide the water immediately to the right. The area to the right has a sharp drop with no significant access importance once the last of the felled pine tree branches are removed and burned. This will be a full day's project including the delivery of 6 yards of 1.5" crushed stone by Dave for constructing the rock channel. The pathway will be repaired with more 3/4" gravel and tested during the next round of heavy rains. The JD2025R backhoe is proving to be a critical implement when dealing with substantial land shaping challenges.

 

Global Financial News

Monday's U.S. equity market action saw the DJIA closing within spitting distance of the 35,000 mark. The S&P 500 also moved up nicely along with the NASDAQ. Tuesday's morning market futures suggest a flat open at 9:30.

Q2'2021 earning season starts today with the big banks being closely watches. Reserve requirements have been pulled back by the Federal Reserve which resulted in dividend increases. We can expect the banking sector to do well in the upcoming months.

Locating workers is becoming a serious issue for continued recovery of the U.S. economy. The service industry is being hard hit by a lack of available manpower.

In Asia, Japan +0.5%. Hong Kong +1.6%. China +0.5%. India +0.8%.

In Europe, at midday, London +0.1%. Paris -0.2%. Frankfurt -0.1%.

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

Otherwise, the commodity complex and long bond rate are mostly flat. WTI crude is quoting at $74.67/bbl while paper gold is priced at $1808/oz. The 10 Year U.S. Treasury bond yield inched up to 1.36%

 

Wrapping Up The Blog

There is little else to share at this point. Buddy the Dog needs a morning bio walk followed by a shower and tackling a huge pile of outgoing shipments.

Thank-you for checking in at the Daily Blog.

 

 

 

 

July 12, 2021

Strong Opening Bidding at the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale

and

Summer FUN 2021 was a Great Show!

 

 

Greetings from the Maine GFRC office and welcome to a regular Daily Blog edition. It is comforting to be back in the office and overlooking lush green front yard landscaping as the Blog is composed.

Yes, I'm a bit tired on a Monday morning. Saturday and Sunday brought two long days of literally being on the road. Saturday's Summer FUN results will be shared shortly in the FUN show wrap-up segment. The Acura MDX performed flawlessly while driving from Orlando to an overnight stop in North Carolina followed by a full day to Essex, Connecticut and final arrival to Raymond. The road trip was smooth other than two major traffic chock points at the Delaware Memorial Bridge and again, at the Gov. Cuomo (old Tappan Zee) bridge. Delaware traffic was the worst experienced in a lifetime while the positioning from the Garden State Parkway through I-287 was typically bad for a Sunday afternoon. We surprised Rose Marie with our 6:30 PM arrival to Dan's Essex 18th century home. After a quick stop and goodbyes, I was on the road again to Maine.

Today brings a long business recovery day in the GFRC office. A COIN system update is a priority to remove all Summer FUN sold inventory from the GFRC price list and Collectors Corner. Checks must be deposited. Afterwards, new purchases will be separated from regular inventory and positioned for photography and price list updates throughout the coming week. The GRC office will certainly be quiet as Diane leaves for Austin today and plans to spend two weeks in Texas. Buddy the Dog will keep me company during that time.

While away in Florida, Dave Wilkinson deposited another 16 yards of 3/4" gravel for the Ledge Hill Trails project. I'm hoping to spend a full day on the JD2025 once the GFRC price list is reasonably updated.

 

Strong Opening Bidding at the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale

While Dan and I were driving through South Carolina on Saturday evening, the Branch Mint Collection auction went live at 9:00 PM EST. Talk about trusting Matt Yamatin's software to reliably open on schedule towards facilitating initial bidding.

I'm thoroughly pleased to report that initial bidding for the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale has been to positive and to expectations. Of the 26 lots valued at nearly $400,000 based on opening reserves, 10 lots have met reserves totaling $175,000. The Branch Mint Collection is off to a robust start! Am I surprised by the level of initial bidding? Absolutely not! Based on knowledge of who needs what for advanced set building in the GFRC community coupled with Manchester and Summer FUN show lot previewing, there were expectations for certain lots to be in high demand. With the auction running through Saturday 9:00 PM, additional lots will receive bids as the days go by. I'm especially looking forward to the Friday and Saturday time frame when bidders recognize that the auction's closing time is approaching and place their final maximum bids.

Enough "collector's edition" GFRC Online Auctions catalog were printed to ensure that every winning bidder will receive a Branch Mint Collection catalog with each successfully procured lot.

In today's Blog, I would like to showcase three lots that remain unattached but definitely warrant a new home in the most advanced collectors under construction. Let's open with commentary the 1838-O F-102 dime.

Most high end 1838-O dimes will be found struck from the F-101 die pairing with repunched mintmark. This fact makes sense as both F-101 and F-102 survivors were consecutively struck with the same obverse die. Early strikes have the highest probability of surviving as they were the initial dimes struck at the New Orleans mint and saved as a historical memento. The 1838-O dime in my Liberty Seated dime core set is an F-101 along with the PCGS MS65 CAC example that is currently being offered in a Legend auction. The Branch Mint Collection F-102 is truly special as it was minted later during 1838 with a partially eroded obverse die. How this gorgeous example was able to survive in gem condition, upon being released from the New Orleans, is a mystery. I've in love with this F-102 for its historical significance and potential inclusion in my own core set. Again, my current example is a PCGS MS64 CAC F-101.

1838-O F-102 PCGS MS64+ CAC 10C

 

Initial bidding for the Liberty Seated quarters in the Branch Mint Sale has been quiet. Collectors should take a serious look at the 1853-O Arrows & Ray quarter offering. This gorgeous example stands on its own merits given its superb original toning and being the only Mint State 1853-O quarter with CAC approval. This near-gem was part of the famous Eugene Gardner collection which speaks volume for its significance.

1853-O Arrows & Rays Briggs 1-B PCGS MS64 CAC 25C

 

Seated half dollar collectors should be all over this highly detailed and gorgeous 1853-O half. This is an absolutely original gem with bold cartwheels. The 1853-O date is rare at the Mint State level. This MS64 example is a compelling value considering the huge price jump at MS65 level.

1853-O Arrows & Rays WB-21 PCGS MS64 CAC 25C

 

Good luck to those who are pursuing any of the Branch Mint Collection lots. I'm sure that Saturday will bring a wild finish to this historic GFRC Online Auction.

 

Summer FUN 2021 was a Great Show!

Now that the Summer FUN show is in the history books, I can reflect on the past week and share my impressions of the first national show in the post-Covid era.

Summer FUN 2021 lived up to its expectations as a gang buster three day event. Unfortunately, several dealers could not attend due to air travel issues associated with "hurricane" Elsa that quickly turned out to be non weather event.

Thursday brought huge attendance by collectors dying to attend a major show. One could see the excitement in collector faces as they circulated through the bourse and having a grand old time. Friday brought a slower and more traditional Summer FUN day. Saturday was well beyond my expectations with another well attended day and floor traffic exceeding that of Friday's.

GFRC sold a host of coins and is pleased with the retails results. This should be no surprise as GFRC had the largest offering of early type and U.S. gold on the bourse floor. The GFRC highlight was on the buying side as Dan White walked the bourse multiple times in search of new purchase opportunities. Our initial wholesale buying with two previously schedule appointments kick started the GFRC shift to higher priced inventory. Dan's bourse floor efforts continued to build on that momentum. This shift will soon become apparent once Maine weather clears up and new purchases are photographed and marketing in the Blog. Hold on to your hat as GFRC purchased nearly 50 coins at Summer FUN with most being CAC approved. Clients must understand, however, that coin prices are moving up with former wholesale levels being a fleeting benchmark. GFRC bought the finest coins possible when the numbers allowed for a reasonable markup.

Though tired this morning, I am so pleased to have made the journey to Orlando to experience the restart of the national coin show circuit. Before leaving the FUN show, GFRC has already booked a corner plus additional 8' table for Winter FUN 2022. The additional table space will provide for ten cases of GFRC inventory and potential auction lots. I've also committed to speak and provide an educational session at that upcoming show. Of course, the topic will be Liberty Seated coinage.

 

Global Financial News

Another trading week arrives with U.S. equity markets at record levels. The DJIA is just 130 points shy of the 35,000 mark while the NASDAQ only needs 299 point to break through the 15,000 level. Certainly, those marks will be breached this week though morning market futures indicates a slight negative bias.

Major morning financial news include Sir Richard Branson experiencing sub-orbital space flight at the age of 70. The G20 nations appear to be agreeing on the framework for an international minimum tax for global corporations.

In Asia, Japan +2.3%. Hong Kong +0.7%. China +0.7%. India flat.

In Europe, at midday, London -0.75%. Paris -0.5%. Frankfurt -0.2%.

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

WTI crude stands at $73.35/bbl while paper gold is holding on the $1800/oz level. Bitcoin can be had for $33,860. The 10 Year U.S. Treasury bond yield is historically low at 1.33%

 

Wrapping Up The Blog

As you can imagine, there is a host of post FUN show catch-up work to accomplish today. GFRC shipping will resume on Tuesday.

Thank-you for staying connected to the GFRC business via the Daily Blog. Regular editions can be expected during the balance of July and August.

 

 

 

 

July 10, 2021

Bidding Opens for the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale

A "Regular" Summer FUN Friday

and

Is it Smithwick's or Smith'icks at the Orlando English Pub?

 

 

Greetings on a Friday evening from Orlando and welcome to the final Daily Blog edition from Summer FUN. As an FYI, there will be no Blog edition on Sunday morning due to a long 1400 mile drive back to Essex CT and Maine.

 

Bidding Opens for the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale

After much anticipation and marketing efforts within the GFRC and Liberty Seated Collectors Club communities, bidding opens for the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale auction this evening at 9:00 PM. The sale includes 26 branch mint type set lots with spectacular eye appeal and most being CAC approved.

The Branch Mint Collection display at the Summer FUN show was well received with many collectors (and dealers) stopping by to view their targeted lots. Obviously rising to the top of the list of most viewed auction lots is the 1875-S BF-13 PCGS MS66+ double dime with an $11,500 reserve price. From the first moment that the cataloging process started, this 1875-S double dime stood out an absolutely stunning gem and was promptly selected for the GFRC Online Auctions sale banner. My prediction is that a final bid price of $16,500 will be necessary to take this one home.

1875-S BF-13 PCGS MS66+ CAC 20C - $11,500 Reserve

 

Next on the most viewed lots at the Summer FUN display was the 1839-O F-104a PCGS MS66+ CAC Liberty Seated dime. Eye appeal is breath taking along with the horizontal late die state reverse die crack for the variety. The opening bid is a reasonable $18,000 for this amazing gem. Will the winning bid be above $21,000? Only a week's time will provide that answer.

1839-O No Drapery F-104a PCGS MS66+ CAC 10C - $18,000 Reserve

 

It is difficult to locate a set of adequate superlatives to describe the final of the top three Branch Mint Collection lots that were viewed and drooled over at the Summer FUN display. This 1872-S Liberty Seated half is a multi-colored headlight with sharp reflective luster. My prediction is that the winner bidder will be stepping up into the low $20,000 range to secure this gorgeous gem.

 

1872-S WB-1 PCGS MS65 CAC 50C - $16,000 Reserve

 

Bidding opens at 9:00 PM. Please be mindful of the bidding increments while carefully developing a maximum bid strategy.

The Branch Mint Collection sale will wrap up on Saturday July 17th at 9:00 PM. Good luck to everyone who wishes to take home one or more of these fabulous offerings.

 

A "Regular" Summer FUN Friday

Dan and I brought high hopes for another wild Summer FUN Friday when entering the bourse floor at 8:30 AM. Unfortunately, the show opening was subdued with a notable lower attendance as compared to Thursday. Collectors continue to arrive during the morning hours but were not spending freely. The GFRC table remained fairly busy though the yield (number of visitors who bought a coin) was substantially lower than Thursday.

The lower activity allowed Gerry to catch up with new purchase updates in the COIN system while Dan continued to walk the floor in search of fresh inventory. We collectively managed to locate additional pieces for inventory that were consistent with an elevated pricing profile.

By 5:30 PM, several dealers were closing up shop including GFRC. The remaining bourse floor activity was muted and best to call it an early day given Saturday's show presence followed by a long evening drive well into North Carolina.

Overall, I am pleased with Summer FUN sales and buying results. Some inventory rotation was accomplished along with purchasing a host of fresh offerings that will reach the GFRC prices starting on Wednesday.

GFRC attention immediately shifts to the Winter FUN show and a revised table strategy to enhance our market presence and inventory presentation. Stay tuned to the Blog for more details.

 

Is it Smithwick's or Smith'icks at the Orlando English Pub?

The established GFRC traditional, when attending Summer and Winter FUN shows, is evening drinks and dinner at the English Pub directly across International Drive from the Rosen Plaza. This tradition was continued during the Summer FUN event with four consecutive evenings at this establishment.

Friday's dinner was most special as Dan and I were joined by our favorite wholesale dealer. The question poised to our colleague concerned the proper pronunciation of the fine Irish ale being consumed. Was it Smithwick's as spelled or Smith'icks as pronounced by the bar maids?

As the evening progressed, the clear consensus was Smith'icks. How can one argue with a beautiful bar maid wearing a short quilt?

Sadly, we must wait until early January 2022 for our next English Pub visits.

 

Wrapping Up The Blog

Time moves along too quickly at major coin shows.

The hour is approaching 10:00 PM on a Friday evening and best to publish the Blog followed by closing down the laptop for the evening. Saturday morning brings packing and hotel checkout before returning to the bourse floor for the final hours of the Summer FUN show.

Please check back on Monday morning for the next edition of the Daily Blog. Until then, thank-you for being constant readers.

Good luck to those who decide to place early bids at the Branch Mint Collection sale.

 

 

 

 

July 9, 2021

It Certainly Felt Like Winter FUN on Thursday!

GFRC Acquires Rare 1866-S No Motto $10 Gold

and

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Bidding on Saturday

 

 

Greetings on a Thursday evening from the Rosen Plaza Hotel in Orlando.

Portions of Friday's Blog edition are being prepared on Thursday evening after a wild day on the Summer FUN bourse floor. This fact leads to the opening headline. Unquestionably, the U.S. numismatic market is unlike any others experienced during the summer months. What began as a self isolation induced market due to Covid-19, has morphed into a full fledge bull market as collectors have rediscovered the joys of their numismatic hobby. A robust economy with inflationary signaling has coin priced on the move. Price guides are also capturing the elevated pricing levels and increasing incentives for collectors to purchase key and semi-key dates before prices rise further.

 

It Certainly Felt Like Winter FUN on Thursday!

Dan and I thoroughly worn out after a non-stop day of selling, buying, and trading on the Summer FUN bourse. Even with all the booth action, Gerry found time to process email driven orders and conduct a two Liberty Seated dollar phone deal that was worth over five figures.

The question we kept asking ourselves was this really Summer FUN as the show had the hallmarks of a busy Winter FUN show.

The bourse opened promptly at 10:00 AM with a rush of attendees flooding the nearby entrance booths. The healthy floor "buzz" was immediately heard as aisles become packed with collectors seeking all type of numismatic and exonumia items. Given the strategic positioning of the GFRC booth by the front entrance, we enjoyed multiple individuals at our table until the noon time hour. A very short lull in the action took place during lunch time followed by the resumption of crowed aisles and ongoing sales until closing down our display at 6:00 PM more due to exhaustion rather than a lack of business. Dan kept commenting on the loud floor "buzz" that would not subside even approaching the 5:00 PM hour. This was a Summer FUN show like no other.

The GFRC product line sales distribution caught us off guard. During past Summer FUN shows, U.S. gold had been the predominate product line with a host of $10 Eagle and $20 Double Eagle sales. Summer FUN 2021 brought an alternative sales profile with Liberty Seated halves and dollars along with Indian and Lincoln cents leading the way. My favorite denomination, Liberty Seated dimes, were quiet and unappreciated.

All of this can change in a day's time with high hope for another robust sales day on Friday.

 

GFRC Acquires Rare 1866-S No Motto $10 Gold

Serendipity was at work on Thursday when the GFRC team located and purchased a rare 1866-S No Motto $10 gold piece graded PCGS EF45 with CAC approval. To properly place this acquisition in context, the CAC population stands at three pieces at the EF45 level followed by two at AU53 with none finer. Mintage is only 8,500 with CoinFacts reporting 40-50 pieces extant. No Mint State examples are known with a single piece graded PCGS AU58 as the finest certified.

This rarity is presently available at $24,500.

 

GFRC Is Upping It's Game with Premium Five Figure Inventory

The acquisition of the 1866-S No Motto $10 gold piece is a signal to the GFRC clientele of things to come. At Summer FUN, Dan and I acquired at least six five figure coins within the U.S. gold and Liberty Seated product lines. All are CAC approved and close to top pop status. We are thoroughly enjoying handling premiums coins as part of our "fluid" collections.

Once I am back in the Raymond office and have the opportunity to photograph and post these higher end offerings, the GFRC strategy migration will become apparent. You can expect to see more gem Liberty Seated dime, quarter and half dollar proofs as one aspect of the new strategy.

 

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Bidding on Saturday

Finally, the Branch Mint Collection display also garnered substantial attention at Summer FUN with the first edition GFRC Online Auctions catalog being a popular item. Several serious numismatists visited Table 719 to inspect lots and secure an auction catalog.

Bidding commences on Saturday at 9:00 PM and will be effect until the following Saturday, July 17.

GFRC Online Auctions also broke new ground in the Liberty Seated Collectors Club E-Gobrecht publication that was released today. Special arrangements were made with Editor Paul Kluth to feature a four page Branch Mint Collection auction advertisement within the July edition. For those who are interested, the July 2021 E-Gobrecht edition can be downloaded by clicking on the following image.

 

Global Financial News

This U.S. equity markets have seen a slight pull back during the past few sessions as the low 10 Year U.S. Treasury (1.34%) is driving fears of a less than robust recovery. Historical thinking is that a rapidly growing economy correlated with higher interest rates. Therefore, if the 10 year bond yield is dropping, this implies a flight to safety due to expectations for trouble waters ahead.

My thought is that the economy will continue to recover while the Federal Reserve is in no hurry to raise interest rates due to growing government deficit spending. There are long term strategies in play that are beyond the scope of the daily publishing financial news media. I'm still steady as she goes for personal equity investments.

Following are morning market futures courtesy of Seeking Alpha with marketing looking to open on an upbeat note at 9:30 AM.

In Asia, Japan -0.6%. Hong Kong +0.6%. China flat. India -0.4%.

In Europe, at midday, London +0.7%. Paris +1.7%. Frankfurt +0.9%.

Futures at 6:20, Dow +0.6%. S&P +0.3%. NASDAQ -0.1%.

We find WTI crude trading at $73.63/bbl while paper gold is priced at $1804/oz. Bitcoin continues to languish at $32,872.

 

Wrapping Up The Blog

It is time to wrap up this Blog edition as Dan and I must head to breakfast followed by being ready for the Summer FUN bourse floor opening (for dealers) at 8:30 AM.

Thanks again for stopping by at the Blog.

 

 

 

July 8, 2021

Summer FUN Open Today - GFRC Table 719

CAC Coin Prices Through the Roof

and

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Bidding on Saturday

 

 

Greetings once again from Orlando, Florida and welcome to the second Summer FUN Blog edition.

I'm pleased to report that the GFRC booth is ready and loaded for an exciting day of retail sales. Dan and I are positioned at Table 719 with easy access from the bourse floor entrance.

Booth setup took place at 2:00 PM Wednesday and was a wild event for the first hour or so.

FUN management was very strict concerning Covid-19 protocols with temperature checks and orange wrist bands for those who successful passed the screening. Facemasks were mandatory for those entering the bourse. I witnessed a number of dealers who were denied bourse access for refusing to wear masks at the entrance. Once on the bourse, the situation changed dramatically. Withing minutes, dealers promptly removed their face masks and within an hour's time, the bourse was back to a normal event sans masks.

GFRC faced start-up issues with its booth including no power cable and the dirtiest rented showcases I have ever experienced at a national show. It took an hour to secure the wiring of a power cable along with several trips to the bathroom to secure wet paper towels to clean the cases.

Hound Dog Dan promptly went into the bourse floor for his traditional buying duties while Gerry slowly assembled the cases with top quality coins. I was not interested in wholesale dealing and simply kept the cases locked once loaded with coins.

 

CAC Coin Prices Through the Roof

Dan had pre-arranged a potential large $5 gold deal and retrieved the coins from the dealer. We spent about 45 minutes studying the gold pieces and arrived at a fair purchase price which was 20% BELOW the dealer's asking price. This first event was a signal that pricing expectations when high at the FUN show. Of course, we passed on the deal and continued to search for new inventory. Several dealers dropped by the GFRC table offering coins for sale. The pattern was set. CAC coins were being offered at 20% ABOVE the CAC guide. Let me say that again, 20% above the CAC guide.

Blog readers are probably scratching their heads at this point. However, the explanation is simple. The U.S. economy is in an inflationary cycle including the numismatic market. Dealers are struggling to replace coins and must pay higher and higher prices to secure inventory. As a result, asking prices are moving up and testing new levels. This fact is creating a challenge for casual collectors who still rely on he Greysheet or CoinFacts' auction records for pricing research. When a market is in an inflationary cycle, past sales data quickly becomes obsolete and one must buy at new levels if wishing to own premier coins.

GFRC quickly adjusted to the new pricing environment with Dan working a host of "wholesale" supplier dealers for fresh inventory. We look at hundreds of coins towards finding those with pricing that made sense for GFRC customers. Between Tuesday afternoon and Wednesday end of day, GFRC spent about $150,000 on new inventory. Some of the inventory is nice collector coins priced at the $300 - $1000 level while we also both high end PQ coins at the $5000 - $10000 level.

Yesterday's Blog new purchases report was the first installment. I quickly four coins to several individuals who requested prices. Sadly, none of them took the time to respond to my price quotes with a "pass" emails; just silence. These coins are now positioned in the FUN cases and will be sold to the first buyer that arrives.

What can GFRC clients do in this inflationary environment? Trust GFRC to handle the task of sorting through excessively priced coins to locate those quality pieces that we believe are fairly priced. At GFRC Table 719, every coin has a pricing sticker. That price is firm for retail customers and dealers. For aged inventory, there will be exceptions. For fresh inventory, GFRC expects to make its standard margin to make the business effort worth while.

Finally, if you have been thinking about selling or consigning coins, now is certainly the time to act. The market continues to lack fresh coins with rising prices. Don't be greedy toward finding the top of the market cycle. If collectors can enjoy a reasonable profit for their collections, now is the time to act. Lumber prices are an example of how quickly the pricing environment can change. 2020 brought extensive demand for house repairs driving lumber prices to record levels. During 2021, lumber supply is returning to normal while prices quickly return to historical levels.

We find paper gold at $1818/oz this morning with physical demand continuing to outpaced supply. This fact is positive for the numismatic market.

 

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Bidding on Saturday

A reminder that bidding for the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale opens at 9:00 PM on Saturday.

Given the amazing quality and top pop CAC rarity of the Branch Mint offerings, I am expecting some pieces to sell at record levels. The current demand for CAC coins is so robust that the rising pricing wave will elevated those for the Branch Mint pieces.

The entire Branch Mint Collection is on display at GFRC Table 719. Please stop by, if attending the show, to secure the first GFRC Online Auctions catalog. Who knows if this limited print (50 pieces) catalog will become a collector's item in the future.

 

Wrapping Up The Blog

My apology but Dan and I must head to breakfast before heading to the bourse floor opening at 8:30 AM for dealers. So ends today's Blog edition.

 

 

 

July 7, 2021

GFRC Staff Safe and Sound in Orlando for Summer FUN Setup Day

and

Exciting Wholesale Buying Event to Report

 

 

Greetings from Orlando, Florida and welcome to a Summer FUN Blog edition. I'm pleased that you could stop by and check in on the GFRC status.

Looking out the Rosen Plaza 9th floor window, the rains are falling along with palm trees swaying in moderate winds. Tropical storm Elsa is positioned to the immediate west of Orlando with the center remaining off shore of Tampa. Luckily for the FUN show, Elsa is moving to the north and will be crossing through northern Florida by the time that FUN show setup begins at 2:00 PM.

Dan and I are fortunate that the Rosen Plaza has a connected overhead walkway to the Orange County Convention Center. GFRC inventory is already in the show security room which means a quick walk through the skyway to reached the convention center without getting wet.

How was the two day journey via car transport?

Monday proved to be a long tiring day due to holiday traffic in Delaware, Maryland and Virginia. My day started at 5:30 AM with the first stop being Essex, CT to pick-up Dan. Traffic was light through New York and New Jersey but once arriving into Delaware during early afternoon, it appears that 4th of July holiday travelers hit the roadways at the same time. We finally arrived to our southern North Carolina overnight hotel at 9:30 PM and immediately went to sleep.

Tuesday brought an early driving start to reach Orlando before Elsa did. We arrived at about 3:00 PM. The first wholesale buying appointment took place at 3:45 PM in our hotel room followed by moving coins to security. Two long days wrapped up with Dan and I enjoying dinner at the English Pub. Dinner was the long awaited Shepard's Pie and several pints of Smithwick ale. By 8:30 PM, our gas tanks were on empty for numismatics or conversations.

 

Exciting Wholesale Buying Event

In past years, Summer FUN is considered to be a smaller regional show with attendance being bused in local collectors. I've grown attached to this Florida based FUN event and make a habit of always attending.

Last year's show was canceled due to Covid along with the all important Winter FUN show. Unquestionably, GFRC was going to present at the 2021 Summer FUN show if it took place.

It turned out that the 2021 Summer FUN show is the first of the national level shows to take place in the post Covid-19 era. Dan and I are thrilled to be participating along with enjoying a favorable table location. We had hoped for a Tuesday pre-show buying event at the Rosen Centre and were a bit disappointment when learning that none was scheduled. Dealers were on their own to make private hotel room appointments for wholesale trading and that we did for Tuesday afternoon.

The appointment resulted in Dan and I spending just shy of $50,000 during the session. This wholesaler is known for having a keen eye and stocking some of the finest CAC approved early type coins. In today's active market, one must take advantage of opportunities when they appear. This we did.

Following are the new purchases that will be priced and loaded into the COIN system this morning and placed into the Summer FUN showcases come the early afternoon. If there is potential interest, I would please to quote a price and send along cellphone images.

Large 1C: 1833 PCGS MS65BN gorgeous copper-red with bold strike, so pretty

Capped Bust H10C: 1829 PCGS MS64 CAC proof like with brilliant reflective luster; 1833 LM-10 NGC AU58 CAC center gold with peripheral blues, so pretty!

Liberty Seated H10C: 1848 Medium Date NGC MS62 Fatty holder, golden-blue shades; 1860 PCGS MS63 CAC gorgeous color toning and gem for the grade

Capped Bust 10C: 1821 JR-10 Small Date PCGS AU58 CAC ex Eliasberg/Gorman, brilliant frosted luster; 1829 JR-4 Small 10C PCGS AU55 reflective luster with gorgeous gold and blues; 1829 JR10 Large 10C PCGS MS63 CAC the only die pair for the variety, beautiful rose reflective luster; 1833 JR-4 PCGS EF40 CAC crusty gray with bold reverse cud, so cool!

Liberty Seated 25C: 1859 NGC PF64 CAC gorgeous watery mirrored with deep rose and blues, will not last long

Draped Bust $1: 1800 B-13 PCGS EF40 CAC light grade and substantial eye appeal

Seated $1: 1849 NGC AU50 crusty gray and perfectly original; 1860 PCGS MS64+ CAC essentially a gem with natural gray patina

Gold $1: 1850-D PCGS AU58+ CAC crusty copper toning over base green-gold, one of the finest extant and perfectly original

Gold $5: 1861 PCGS AU58+ CAC honey-gold slider with frosted luster

 

Global Financial News

Since being on the road, I've not paid attention to the equity markets. A quick check indicates Tuesday's action to be soft but with the NASDAQ charging ahead. Morning market futures are indicating a positive basis at the 9:30 AM open.

What promptly captured my attention is the 10 Year U.S. Treasury bond yield moving down to 1.34% in an environment of low volatility. The U.S. economy is doing just fine and is in full recovery mode.

In Asia, Japan -1%. Hong Kong -0.7%. China +0.7%. India +0.4%.

In Europe, at midday, London +0.5%. Paris +0.1%. Frankfurt +0.9%.

Futures at 6:20, Dow +0.1%. S&P +0.2%. NASDAQ +0.5%.

Crude oil is hovering at the $75 level while gold is attempting to hold the $1800 mark with a morning quote of $1807. Bitcoin is priced at $34,625.

 

Wrapping Up The Blog

A busy morning awaits me in the hotel room prior to the Summer FUN setup event at 2:00 PM. Dan and I must register promptly after lunch and get queued for setup. As done at the NH Coin Expo, I will be setting up the booth while Dan walks the bourse for buying opportunities.

Thanks for checking in at the Blog. A regular edition will be published during the balance of the week. Please make sure to visit to learn how the first major national show is fairing.

 

 

 

July 4, 2021

Happy July 4th - GFRC is Packing for Summer FUN

 

Greetings on a cold and wet July 4th in southern Maine.

What a dramatic weather shift in just a few days. Earlier in the week, we were coping with 90+F temperatures and 95% humidity. Today brings the third day of cold weather and nearly constant rains into late afternoon. The overnight temperature will dip into the high 40s as the MDX is loaded and launched early Monday morning for its first stop; Essex CT.

I'm not in much of a Blog writing mood given a day's work that awaits me on a holiday.

This coming Tuesday morning brings the last GFRC shipment until Tuesday July 13th. My apology for the delay since I will be arriving back to Maine home quite late on Sunday evening (July 11th) followed by transporting Diane to the Portland airport on Monday.

Therefore today's calendar brings a host of office wrap-up work, packing and shipping orders, and of course, pulling FUN show inventory along with all required booth accessories. It is unacceptable to forget anything when driving nearly 1400 miles to attend a coin show.

I've loaded the newest Sooner Collection consignment on the price list without images. This consignment will be packed and exhibited at Summer FUN. For those who wish to gain access before FUN, please feel free to request a cellphone image until noon time today. For well established clients, we can conduct a Quick Ship. Sorry, but by 2:00 PM today, there will be no more Quick Ship packaging. Orders after 2PM will be placed on hold for regular payment and shipped on July 13.

So ends today's Blog. There will be no Blog edition on Monday or Tuesday mornings. There will be sufficient time on Wednesday morning, in Orlando, to prepare the next edition.

Wishing everyone a happy 4th July holiday today and Monday. See you Wednesday morning.

 

 

 

July 3, 2021

You Can't Be Serious - A Hurricane Before the Summer FUN Show?

and

Branch Mint Collection's Auction Bidding in One Week

 

Greetings on a 4th of July holiday weekend and welcome to another Blog edition.

The weather forecasters certainly got it right for the southern Maine region; cold and wet. At 6:00 A, the outdoor temp is a cool 53F with light drizzle. By noon time, the rains arrive for a full 24 hours into Sunday afternoon. As much as the timing is unfortunate, the rains are critical for alleviating drought conditions.

Speaking of unfortunate timing, my sympathies go out to Cindy Wibker at the FUN organization. After multiple canceled FUN shows due to Covid, an early season hurricane arrives immediately before the opening of Summer FUN. More on this story next.

But first, the GFRC 30 Day Price List continues to be updated with new offerings. Demand remains strong with orders arriving within a few hours of fresh coins being posted. The thought of bringing the 30 Day Price List back to the 100 piece mark is a distance memory in today's hot market. Fresh coins are selling as quickly as they are posted. The key to this fact? Accurate images and fair asking prices!

As of this morning, there are still another five New Hampshire Coin Expo new purchases to be posted; all U.S. gold. Afterwards, attention shifts to the most recent Sooner Collection consignment. This shipment is replete with all Liberty Seated denomination but dominated by Seated halves. None have been photographed. My strategy is to get these priced approved and into Summer FUN inventory packing on Sunday.

 

GFRC Consignment Window Remains Closed Through July 15

Sadly, I must extend the GFRC consignment window closure through July 15th given the substantial workload during the upcoming two weeks.

GFRC will be away at Summer FUN and returns to the Raymond office on July 11th. Immediately, Diane is traveling to Austin for another visit with Renee and family. If Hound Dog Dan and I acquire coins at Summer FUN as planned, the first week back in the office means photography and loading new purchases to the price list. Of course, there will be a host of queued orders to be packed and shipped by myself and the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale that is underway. Finally, the Tenafly CAC Approved Liberty Seated Quarter Set Sale auction catalog will also be prepared along with the online auction queued for an early August time frame. Are we dizzy yet?

New consignments arriving after July 15 will be queued for processing during the month of August. Please plan accordingly with consignment proposals.

 

You Can't Be Serious - A Hurricane Before the Summer FUN Show?

Early July seems soon for the annual hurricane season to kick in. When traveling long distance, one expects smooth passage but must plan accordingly when there is trouble on the horizon.

The timing of Hurricane Elsa's movement across Florida is a good and bad thing. On a positive note, the tropical winds and heavy rain should be through the Orlando area by Thursday. The bad is disruption of dealers traveling into the Orlando area on Tuesday and Wednesday.

Luckily, Dan and I have planned our Orlando arrival for mid afternoon Tuesday via roadway. The below National Hurricane Center wind speed map indicates the probability of 5-15 mph winds at that time. Once checked into the Rosen Centre hotel and the coins are stored in the FUN security room, coin dealing begins in hotel rooms late Tuesday and on the bourse during Wednesday setup. The unlucky ones are dealers who planned to fly into the Orlando airport on Wednesday morning.

 

National Hurricane Center

Wind Speed Probabilities Through Tuesday 2:00 PM

 

Branch Mint Collection's Auction Bidding in One Week

In one week, the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale will open for online bidding. GFRC's online bidding platform will automatically open at 9:00 PM while Dan and I are driving through North Carolina to an overnight destination.

By now, I'm certain that the GFRC community is well aware of the offered lots. As a reminder, following are several offerings that will garner personal attention since being a passionate Liberty Seated dime collector.

The Gerry Fortin core Liberty Seated dime collection contains an 1838-O F-101 that is certified PCGS MS64 with CAC approval. The Branch Mint Collection example is an equivalent offering though struck by the F-102 die pair with well worn obverse die. The 1839-O F-104a PCGS MS66+ is short of amazing and will garner substantial attention. The Fortin specimen is an F-101 Small O certified PCGS MS65 Gold CAC. Finally, there is the 1853-O F-102 dime certified PCGS MS64 with CAC approval. The obverse strike is typical of the variety while the reverse is 100% gem in terms of strike and coloring. The Fortin specimen happens to be the F-103 Eliasberg pedigreed example graded PCGS MS63 CAC with a fully struck head.

 

Branch Mint Collection Sale - Noteworthy Liberty Seated Dimes

1838-O F-102 PCGS MS64+ CAC 10C

1838-O No Stars F-102 10C, PCGS MS64+ CAC, Gem Original. All coins exist on a continuum, and, even among CAC-certified examples, some are nicer than others. This is clearly such an example, with pristine surfaces and delicate obverse rim toning. Shades of blue, gray, and olive are evident as the coin is tilted, and the eye appeal is exceptional. The reverse exhibits faint gold toning underneath scattered flecks of russet and blue-green. Examination under a strong glass reveals only minute ticks. F-102, with obverse die erosion apparent under close inspection. CAC has certified only three pieces at the Gem level. PCGS notes just five coins higher, four at MS65 with a single piece at MS65+. Housed in a PCGS Gen 6.0 (2015-2020) Gold Shield holder with CAC approval. Some coins are worth pushing for, and the new owner will be justifiably proud of this premium quality example.

 

1839-O F-104a PCGS MS66+ CAC 10C

1839-O No Drapery F-104a 10C, PCGS MS66+ CAC, Gem Original. For many astute collectors, luster is king, and the flash of this example is undeniable, as it completely penetrates the medium toned surfaces. Russet and gold shades frame the reverse, while Liberty exhibits blue and violet color throughout. The reverse is similarly toned, always a consideration with respect to CAC certification. F-104a, with a high, level date and prominent reverse die crack traversing the length of the coin through DIME. Surfaces are near-perfect and even with a glass one is challenged to locate any marks. The CAC census notes three higher pieces at MS67, the same as PCGS, which also reports three examples at MS67. Housed in a PCGS Gen 6.0 (2015-2020) Gold Shield holder with CAC approval. As is typical, the Branch Mint Collection pieces compete with the finest known coins, and indeed, if one were to compare this piece with the examples in MS67, this coin might well be selected as the most eye appealing of the group. Previously from Heritage (2/2012, lot 3325, realized $13,800, there in an NGC MS66+ holder).

 

1853-O F-102 PCGS MS64 CAC 10C

1853-O Arrows F-102 10C, PCGS MS64 CAC, Near-Gem Original, Light gold shading blankets both sides of this lustrous With Arrows example. Cartwheels easily rotate as the coin is tilted under a light, and the eye appeal is compelling. The 1853 Coinage Act mandated a slight reduction in the weight of silver coinage, in order to make it more correctly valued in relation to the gold coinage. The legislation was immediately successful, restoring widespread circulation of silver coins. Arrows were placed at the date from 1853 to 1855 signifying the lower weight of the coins. This is a well-struck example with some softness in the head and reverse bow knot. F-102, with an even date and large, thin mintmark. CAC has approved only four MS pieces in all grades combined, with this example the sole finest CAC-certified coin. The PCGS census notes two pieces at MS64 and only one higher, at MS66. Housed in a PCGS Gen 4.1 (2002-2004) holder with CAC approval. Bidders will do well to carefully consider the opportunity to acquire the finest piece certified by CAC. From the Kennywood Collection (ANR 1/2005, lot 356, realized $10,925).

 

Wrapping Up The Blog

Yes, I will be in the GFRC office for most of the day, else the basement sound room for mental breaks. One can only work on coins for so long before productivity and attention span drop.

There will be no shipping today given the long holiday weekend. Outgoing shipments will be queued for Tuesday morning and transferred to USPS by Diane.

Do you wish to sell coins to GFRC? If so, don't be bashful. Like most other dealer in the numismatic business, GFRC has accumulated a substantial amount of capital for new purchases. Dan and I hope to spend like drunken sailors at Summer FUN but the reality may prove otherwise.

Thanks for stopping by at the Blog. Again, Happy 4th July weekend!

 

 

 

 

July 2, 2021

Presenting the Branch Mint Collection Auction Catalog

and

Fresh U.S. Gold on 30 Day Price List

 

 

Greetings on a Friday morning and welcome to another Daily Blog edition. Thanks for checking in!

The July 4th holiday weekend is upon us. By noon time today, Rt 302 through Raymond will be jammed packed with all sorts of vehicles, RVs, and towed water crafts as visitors head to to the sleepy towns of Naples and Sebago. Yes, it is mid-summer time with a renewed flood of out of state tourists to Lake Sebago.

Sadly, the holiday weekend weather will be a washout. After intense heat and humidity during the past week, southern Maine weather has undergone a dramatic shift. Long overdue rain will be continuous through Sunday along with daytime highs only at 60F. How would you like to go outdoor camping in these conditions? Better bring a 400 page book to read. Oh yes, I forgot that YouTube video streaming has replaced old fashion book reading.

So far this summer, we are two for two with problematic weather during a holiday weekend. Memorial Day weekend saw the wood stove being used, and now, cold rainy conditions for the next three days. Hell with freeze over before I start the wood stove this weekend! Believe me, I'm not complaining as the soaking rains are welcomed with open arms. If not driving to Florida on Monday, you can bet that more brush piles would be burned during the coming week.

 

Presenting the Branch Mint Collection Auction Catalog

They've arrived!

Presenting the first of its kind GFRC Online Auctions sale catalog. I could not be more pleased featuring the Branch Mint Collection sale within the first ever GFRC issued catalog.

Like all else within the GFRC business model, the publishing of the Branch Mint Collection catalog is a first step. A visual idea has become reality and will be improved upon during subsequent sales.

Please forgive the low resolution (and somewhat blurry) images as these were taken with a cellphone under minimum desk light to avoid glare. However, the images should convey the concept of publishing unique auction catalogs for GFRC Online Auction clients. Of course, there will be a collection value threshold for this service during upcoming auctions.

 

First of its Kind! GFRC Online Auctions Catalogs

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale

 

The Branch Mint Collection Sale catalogs will be available at GFRC's Summer Fun exhibit - Table 719. If attending the show, please stop by to view an incredible display of high end Liberty Seated type coins with the highest degree of difficulty; branch mints only.

 

Renee and Family Back in Austin

I'm pleased (and relieved) to report that Renee, Mike, and Ivy are safely back in their Austin Texas home after a late night arrival.

During their five day visit, we could see Ivy maturing in front of our eyes due to a broad range of new adventures. There was a visit to cold ocean water at Old Orchard Beach and much play time with Amanda and her similar age daughter, Sadie. Since being neighbors at birth and the same age, Renee and Amanda have been close friends from early days as toddlers playing together in our adjacent backyards. Now, a new generation is following the same path when Maine visits coincide.

Ivy also watched Mommy experiencing her first solo ride on the JD2025R and disappearing into the back acreage before turning around and returning. Here is an snapshot of Renee and Ivy prior to Renee's first JD2025R experience. Renee learned the ins and outs of backhoe usage and demonstrated her front loader handling skills at the gravel pile. Once off the tractor, Renee's comment was, "I felt like a 16 year old taking my first solo drive in a car!"

Diane has captured many more pictures and some video that will be shared in the Blog throughout the weekend.

 

Renee and Ivy with Johnny

 

Fresh U.S. Gold on 30 Day Price List

Much of Thursday was spent loading fresh U.S. gold purchases onto the 30 Day Price List. Of the ten pieces posted, four are already on hold. Following is a brief gallery of most of the remaining pieces. If interested, I would not hesitate in this hot market. Unsold pieces will be heading to Summer FUN on Monday.

 

Fresh U.S. Gold on 30 Day Price List

1909 PCGS MS64 CAC G$5                                                       1911 NGC MS63 CAC G$20

    

      1901 PCGS MS66 CAC G$2.5                   1903 PCGS MS66+ CAC G$2.5               1927 PCGS MS63 CAC OGH G$2.5

            

 1907 PCGS MS62 CAC G$10                      1910 PCGS AU58 CAC G$10                          1932 NGC MS64 G$10      

            

 

Global Financial News

We open today's financial segment with an announcement that Blackstone has acquired Certified Collectibles Group (CCG), the parent company of NGC. Let's not underestimate the significance of this announcement. With access to increased capital, NGC will be able to further expand its market share quest against PCGS while increasing service offerings. The entire collectibles market has been validated via this acquisition.

WTI crude oil prices has moved from $70 to $75/bbl in the matter of weeks with no end in sight as OPEC+ struggles to reach agreement on higher production targets for members. Increasing crude oil prices are an example of the forthcoming inflation in the U.S. economy. Oil is a raw material that is directly intertwined with economic growth. As oil prices move up, those incremental costs will migrate to end products including gasoline, fuel oil, and ultimately retail goods.

On July 1, U.S. equity markets continue their upward momentum. The DJIA is just 1% shy of the 35,000 mark while the S&P 500 stands at $4319. My forecast is for the S&P 500 to be at 4600 by end of year barring any geopolitical stupidities.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan +0.3%. Hong Kong -2%. China -2%. India +0.1%.

In Europe, at midday, London +0.1%. Paris -0.1%. Frankfurt +0.2%.

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

Paper gold is attempting another run at the $1800/oz threshold with a morning quote of 1787/oz. Bitcoin has settled into a new trading range at $33,003.

Most important, the 10 Year U.S. Treasury bond yield has dropped to 1.45% as a sign of low volatility in the investment markets.

 

Wrapping Up The Blog

Considering the cold rainy conditions that are forecasted for today, you will find me in the GFRC office attempting to load more new offerings to the price list.

Thanks again for stopping by at the Blog.

 

 

 

July 1, 2021

GFRC Sales Growth Continues in 2021

Preparing for Summer FUN 2021 - GFRC at Table 719

and

Goodbye to the First Right of Refusal Service

 

Greetings and welcome to the Daily Blog on July 1. The 4th of July holiday weekend arrives tomorrow.

Finally, southern Maine weather has shifted to seasonal levels with a current temperature of 71F. Overnight temps are forecasted down to 55 degrees which is more than fine by me. I've slept in the basement sound room for four days and ready to return back to regular bed.

Wednesday afternoon brought strong thunderstorms that delayed flights into Portland's airport. Unfortunately, those delays impacted Renee and family's outgoing flight to Chicago with a missed connection being assured. Rather than spend the night in Chicago, Diane went back to the airport to retrieve our precious cargo. Renee and family will try again this afternoon.

This event has further impacted a thoroughly busy Thursday and the juggling of appointments. As a result, I will be conducting today substantial shipping, retrieving Buddy the Dog from his grooming plus picking up the Branch Mint Collection auction catalogs and USPS Priority envelope mailers. Obviously, the 30 Day Price List will see limited updates after Wednesday's eleven piece addition.

 

GFRC Sales Growth Continues in 2021

The first half of 2021 in now in the record books. I'm pleased to report that the GFRC business model and service programs have resulted in continuous sales revenue and volume growth for the first six months of 2021.

Revenues grew by 16% year on year while volumes were up by a similar number. As of this morning, GFRC has sold 1527 coin during 2021 which is nearly 8.5 coins per day. I remember writing in late 2018 Blog editions about striving to reach the 2000 piece sales milestone. Three years later, GFRC has an opportunity to attain the 3000 coin milestone on an annual basis.

How about CAC approved coins? Locating CAC approved early type and U.S. gold for GFRC inventory has proven to be very challenging this year. Regardless, GFRC has sold 615 CAC approved coins year to date or 40% of its sales volume. The upcoming Branch Mint Collection's Type Set Sale and the Tenafly Liberty Seated Quarter Sale sell will bring a strong tailwind for starting the second half of 2021.

Why do I share these business statistics? Simply to keep the GFRC community abreast of business health. A growing business that adapts to market place changes demonstrates its longevity potential. I share number to assure clients that GFRC will be here to service your collecting buying and selling needs on a long term basis.

 

Preparing for Summer FUN 2021

Preparations for Summer FUN begin in earnest on Friday as a host of U.S. gold will be added to the price list and inventory boxes. Come the weekend, show inventory will be pulled along with packing booth accessories, and the Branch Mint Collection lots/auction catalogs. Monday brings the beginning of a nearly 3000 mile road trip to and from Orlando with a stop in Essex, CT to pick-up Dan White. The MDX has a fresh oil change and is ready to go.

Below is the Summer FUN bourse floor layout and GFRC's corner table location. GFRC has a fantastic location adjacent to the front entrance. We hope that positioning will translate into substantial sales and buying volumes through Saturday afternoon. On display will be the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale lots for your viewing pleasure. Individuals who visit the display will be provided with the first GFRC Online Auctions catalog. Who knows if this catalog will become a collector's item?

Summer FUN will be substantial national coin show event with a larger bourse floor than past years. We are hearing that many dealers will be flying in for the event with inventory buying goals and look forward to meeting with everyone at Table 719. As was the case at the NH Coin Expo, all GFRC CAC approved offerings are net priced. In other words, our stickered prices are the same for dealers and collectors.

 

GFRC Table 719 Location at Summer FUN

 

Goodbye to the First Right of Refusal Service

The arrival of July 1 also signals the end of the First Right of Refusal program. After offering this service since 2015, there is an massive sense of relief and a load off of my shoulders. Gone is the risk of double committing a new purchase or consignment item and having to eat crow when mistakes are made.

As of today, all GFRC new offerings will be published on the 30 Day Price list and available on a first come first serve basis. This change will take time to be internalized by long term GFRC customers as many are accustomed to requesting first shot on coins before being posted. Yes, I am expecting some customer anxieties during the transition. Already, several clients who were late on newly posted coins, are questioning why they were not first for the purchase. Everyone must trust me to be fair. If I don't respond to your purchase request within several hours, it might be that I'm outdoors on the JD2025R and attempting progress on the Ledge Hill Trails adventure. Please don't assume that I'm purposely holding back a response to enable the coin to be sold to someone else. That is NOT how I operate.

 

Global Financial News

U.S. equity markets ended the first half of 2021 with an upbeat final day of June. Markets are at record levels to start the second half of 2021 and should continue to steam ahead as the citizenry emerges from self and government imposed isolation. Travel is way up for the 4th July holiday as are airline bookings. A recovering economy will dictate rising energy demands and higher oil prices. One does not have to be a genius to connect the dots towards $80/bbl crude oil prices. Today's quote stands at $74.32/bbl.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan -0.3%. Hong Kong closed. China -0.1%. India -0.3%.

In Europe, at midday, London +0.5%. Paris +0.1%. Frankfurt flat.

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

How about paper gold prices for the balance of 2021?

To respond to that question, following is a 30 year price chart for the yellow precious metal. Paper gold prices are presently a proxy for physical gold which trades at a substantial premium to the spot number.

Unquestionably, gold is a long term investment. By long term, I mean a decade or more of patience. Sure, we track the price of gold on a daily basis for short term trading. Since GFRC holds a substantial amount of U.S. gold inventory, it would be negligence to not pay attention to spot gold pricing and the near term risks for holding large amounts of Liberty and Saint $20 gold with potential cash flow impacts.

My view of gold is an ongoing upward trend with the usual dips along the road. Now that paper gold market manipulation by the major banks has been identified and fined, and China's Shanghai exchange being online, gold's long term value growth has a fighting chance.

Spot Gold - 30 Year Trend-chart - Courtesy goldprice.org

 

 

Wrapping Up The Blog

Today brings another busy office day plus errands. My 30 Day Price List loading focus shifts to U.S. gold.

Thanks for checking in at the Blog on July 1. Be well!

 

 

 

 

June 30, 2021

Presenting the Tenafly CAC Approved Liberty Seated Quarter Sale Lots

Another Liberty Seated Dime Core Set Upgrade

and

An Evening in the Basement Sound Room with Renee

Greetings on the final day in June 2021. Yes, southern Maine weather has yet to cool off.

Sadly, today brings the final hours of Renee, Mike, and Ivy's stay at the Raymond homestead. Just as Ivy is settling in and making herself at home, the time to depart arrives all too quickly.

High humidity and a 90F temperatures will again be the rule today. The temperature break back to the mid 70s is forecasted for Thursday and will continue through the weekend. Diane and I have made a command decision that 2022 will bring the installation of a house wide air conditioning system. Research and locating a credible vendor will begin in September.

Nine new GFRC offerings were loaded to the 30 Day Price List on Tuesday. Already, orders are appearing including multiple orders for the 1865 F-102 proof dime and the 1875-S F-101 Micro S. Increasing the number of new offerings on that price list is proving to be futile.

The internet and information age have brought about profound changes to society along with our ability as humans to sort out fact from fiction. Large media and online retailing companies have collected enormous amounts of online behavioral data to foster their corporate goals. If operating on the internet, we continue to surrender our privacy to these corporations that are managing in their best interests and not yours. Seth Godin brings this fact to light within one of his daily blog posts.

Seth Godin Blogpost: The market is a listening device

It’s the most resilient, most granular technique available for us to figure out what people want.

When individuals have the freedom to choose, they often do.

At the same time that markets enable choice, large-scale industrial capitalism works overtime to remove it. The main job of most big company CEOs is to figure out how to lock in customers, because customers without choices stick around longer and pay more.

Some organizations exist to satisfy market demand.

Some work hard to create market demand.

And some are focused on capturing demand and then eliminating the market itself.

The internet has created changes in both directions. We have dramatically more choice when it comes to ways to spend/waste our time, but we also have to deal with the natural monopolies created by the network effect and the hidden levers that drive toward lock in.

If we’re not alert, many of the choice-driven markets we depend on will disappear.

 

Presenting the Tenafly CAC Approved Liberty Seated Quarter Collection Sale Lots

Early August brings another incredible auction offering via the GFRC Online Auctions platform.

The Tenafly CAC Approved Liberty Seated Quarter Collection Sale will feature 117 lots with all but three pieces being CAC approved. Today brings the traditional first sharing of the individual lots via the Daily Blog's scrollable table. Just take a look at the upper left and enjoy viewing the forthcoming lots that will be in strong demand.

My next step is preparing the Tenafly auction banner and launching the marketing campaign at the Auction link.

 

Another Liberty Seated Dime Core Set Upgrade

The New Hampshire Coin Expo brought about an infrequent upgrade to my core Liberty Seated Dime set.

While Hound Dog Dan was actively buying on the bourse floor, he ran across this gorgeous 1882 dime with silky frosted luster and peripheral toning. The purchase decision was promptly executed as I am slowly upgrading the MS66 CAC approved later "common dates" with higher graded specimens. When the right example appears, the upgrade is made without hesitation.

This new purchase is the F-105 die variety with repunched 2 digit and a misplaced digit in the base directly above the space between the final 82 date digits.

My current 1882 core set dime is also an F-105 example graded PCGS MS66 with CAC approval. After returning from Summer FUN, I will visit the bank box to make the swap and place the former set piece on the GFRC price list.

 

Another Upgrade for the Gerry Fortin Core Liberty Seated Dime Set

1882 F-105 PCGS MS67+ CAC

 

An Evening in the Basement Sound Room with Renee

I had been waiting for this moment for years; one on one time with my daughter Renee for a music centric evening.

Memories of Renee growing up and listening to old time 1960s and 1970s music in her room left a mark on me. Like her father, Renee found contemporary music to be one of her passions. As a student at Raymond and North Yarmouth Academy institutions, Renee always found time to learn new musical instruments. First was the trumpet followed by the piano. The homestead still has Renee's electric piano in the dining room, now popular with Natsumi and Ivy. With time, Renee's interests migrated to painting and playing an acoustic guitar.

The appointment was set for last evening. By 8:30 PM, Ivy was heading to bed with Mike in charge. Renee and I moved to the basement sound room to explore the power and dynamic range of the Naim/Focal system. The evening started with a few demo tracks to showcase some of the finest engineered musical recordings that I've located via the Tidal app. Then it was Renee's turn to pick her favorite songs. At one point, she asks if I have any Michael Jackson. Sure, with Billie Jean being selected and nearly knocking Renee out of her Lay-Z-Boy recliner.

Eventually, the evening shifted to video concert presentations along with Diane and Mike joining us. Selections from two concerts were featured; Eric Clapton On the Road (Los Angeles 2001) and Loreena McKennitt's A Night at the Alhambra.

The midnight hour arrived much too quickly with everyone heading to bed. Thus the reason for today's delayed posting of the Daily Blog.

 

Global Financial News

U.S. equity markets have recorded a positive run for 2021 to date. The S&P 500 will close June with five months of straight gains along with the NADAQ looking for similar performance.

Morning market futures indicate a slight lower open at 9:30 AM.

In Asia, Japan -0.1%. Hong Kong -0.5%. China +0.5%. India -0.1%.

In Europe, at midday, London -0.5%. Paris -0.8%. Frankfurt -1%.

Futures at 6:20, Dow -0.3%. S&P -0.2%. NASDAQ -0.2%.

Paper gold continues to lack footing with a morning quote at $1756/oz. WTI crude pricing remains strong at $73.72/bbl. The 10 Year U.S. Treasury bond yield is comfortably at 1.46%.

For once, Seeking Alpha publishes a quantitative article on the carbon footprint advantages of Electric Vehicles vs. the traditional Internal Combustion Engine. The following is well worth the time to read concerning "break even" variability based on manufacturing vs. usage generation of carbon emissions.

As governments across the globe advance greener transport legislation to meet climate targets, a question that continues to surface is how much cleaner are electric vehicles (EVs) than traditional automobiles with an internal combustion engine (ICE). Estimates exploring the carbon gap have to cover thousands of parameters, such as the extraction and processing of minerals for EV batteries and the production of power cells. Other considerations are based on "after-sale" elements like the type of power used to charge an EV or the fuel dynamics and upkeep of a gasoline car.

Bigger picture: It's a little complex to delve into all the variables, so it may be easier to divide them between the "building" of the vehicles and their "maintenance." Compared to gasoline cars, EVs are not as green when it comes to manufacturing due to the mining of rare earth metals that are needed for their batteries. But once they hit the road, the only thing that contributes to their carbon footprint is the sourcing of their energy, giving them an advantage over gas-powered cars.

Meet the GREET model: The framework created by the Argonne National Laboratory in Chicago, called the "Greenhouse Gases, Regulated Emissions and Energy Use in Technologies," is being used to help shape policy at the EPA and the California Air Resources Board. Reuters recently took a test drive of the model, stacking up a Tesla (NASDAQ:TSLA) Model 3 versus a Toyota (NYSE:TM) Corolla, with the assumption that both vehicles would travel 173,151 miles during their lifetimes. The scenario also took place in the U.S., where 23% of electricity comes from coal-fired plants.

Results? Even before hitting the road, the analysis showed that the production of a mid-sized EV generated 8.1M grams of CO2 during the extraction and manufacturing process, more than the 5.5M grams for a comparable gasoline vehicle. One would also have to drive another 13,500 miles in a Model 3 - the average mileage motorists drive each year - before breaking even with the Corolla in terms of emissions. Tesla then pulls ahead... At Year 5, the Model 3 has emitted a total of 17M grams of carbon emissions (vs. 30M for the Corolla) and at Year 10, it has released 25M grams (compared to the 52M produced by the Toyota vehicle).

Not every country is the same: If the Model 3 was being driven in Norway, which gets most of its electricity from renewable hydropower, the breakeven point would come after 8,400 miles. Compare that to the 78,700 miles needed to reach carbon parity in nations like China and Poland, which generate the majority of their power from coal. 

 

Wrapping Up The Blog

Today brings another office day other than taking Renee and family to the Portland Maine airport.

Thanks for checking in at the Blog. Be well.

 

 

 

 

June 29, 2021

Branch Mint Collection's PDF Catalog is Available

and

Another Round of CAC Approved NH Coin Expo New Purchases

 

Greetings on yet another hot southern Maine morning. Thank-you for checking in at the Daily Blog.

Yes indeed, it will be another scorcher of a day with a forecasted high of 92F along with 94% humidity. So far, I've slept in the basement sound room for two nights and will be extending my reservation for a third night. Thank goodness for the comfortable Lay-Z-Boy chair purchases during 2020.

Monday brought a productive GFRC office day with the posting of a few new purchases (most sold immediately) along with constructing GFRC Online Auctions' first catalog. Prior semiconductor career Powerpoint and Word skills are proving to be very useful during a "retirement" career. I'm most pleased with the end product.

Considerable feedback arrived concerning the termination of the First Right of Refusal program with the majority being supportive of the cancellation. GFRC clients have come to appreciate the growing workload as the GFRC business scales to higher volume along with adding the auction platform. Tracking multiple FroRs is a arduous task along with having to respond with confirmations and/or status report. This service offering has clearly become untenable and needed to end.

The U.S. coin market continues to be atypical this year with robust sales during the traditionally quiet month of June. My planned time working in the back 20 acres has been below expectations due to the retail and auction support demands. July is shaping up to be the same with a long road trip to attend Summer FUN coupled with Diane heading back to Austin for a two week stay with Renee and family during the second half of the month. I'm taking a stand concerning the month of August and will closely manage time to ensure an appropriate amount is dedicated to trail building and time away from the GFRC office. Just yesterday, I was called stubborn for not planning to attend the Chicago ANA, even on a walking basis. One reaches a point during a life where balancing yet another robust career with personal goals must be managed else work can be ever consuming.

 

Branch Mint Collection's PDF Catalog is Available

GFRC Online Auctions is thoroughly pleased to be presenting the first of hopefully many PDF based online catalog for your viewing and archiving pleasures. Building the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale catalog brought the realization of future marketing possibilities. The PDF presentation format is ideal for collectors who wish to only store digital catalogs in their library.

For collectors attending Summer FUN, GFRC Online Auctions will be making available a color paper catalog at Table 719 coupled with the Branch Mint Collection set display. The consignor has already requested three traditional catalogs against the planned 50 copies that will be printed and assembled this week. I'm sorry, but GFRC will not honor paper catalog requests by mail.

The GFRC community is now invited to click on the below Branch Mint Collection catalog cover page towards downloading their personal PDF catalog file. Once downloaded, the file will be found in the Downloads folder if using the Windows operating system.

 

Presenting the Branch Mint Collection's Online PDF Catalog

Another Round of CAC Approved NH Coin Expo New Purchases

Yesterday's attempt to recover the 30 Day Price List proved to be futile as new offerings sold promptly upon being posted. The gem 1840 WB-1 PCGS MS64+ CAC and choice 1865-S NGC MS63 Liberty Seated halves were gone in the matter of a few hours. Additional postings, many with FRoRs, also flew off the shelf.

Today brings more new purchases from the NH Coin Expo for consideration. Following are five CAC approved highlights to whet your appetite. Only the 1875-CC PCGS MS62 CAC double dime comes with a First Right of Refusal. All offerings will be posted to the price list during the afternoon hours.

One comment is necessary concerning PCGS vs. NGC CAC approved coins. At GFRC, I am TPG holder blind once a coin is CAC approved. Some clients may find NGC holdered coins to be inconvenient for PCGS only registry sets. So be it if this is your personal desire. My role is to sell the best possible quality coins that are perfectly original and accurately graded. Quality coins can be found in both major TPG holders and should be purchased accordingly. One must remember that we are purchasing coins and not pieces of plastic or labels.

 

Another Round of CAC Approved NH Coin Expo New Purchases

1863 NGC MS66 CAC H10C                                                   1887 NGC MS65 CAC 25C

    

             1834 JR-4 NGC AU55 CAC 10C                1875-CC BF-2 PCGS MS62 20C     1849 Briggs 1-A PCGS EF45 Gold CAC 25C  

            

 

Global Financial News

Monday's trading saw the NASDAQ breaking yet another all time record while the DJIA was down fractionally. Morning market futures are once again forecasting a flat open at 9:30 AM.

I continue to read Seeking Alpha headlines and featured articles daily as part of this segment's preparation. Recent articles have not been compelling enough to publish in the Blog. Bottom line, the U.S. economy continues to recover and is leading the globe with renewed economic prosperity. Big Tech is presently dominant in our lives and will continue to expand it's reaches.

In Asia, Japan -0.8%. Hong Kong -1.1%. China -0.9%. India -0.4%.

In Europe, at midday, London +0.2%. Paris +0.4%. Frankfurt +0.9%.

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

WTI crude has taken a breather and has pulled back slightly to $72.56/bbl. Paper gold is trading at $1770/oz and is no where near the price being paid for physical gold. Bitcoin is idling at $35,323.

The 10 Year U.S. Treasury yield is down slightly at 1.48%. Now is the time to take on productive debt at these historically low interest rates.

 

Wrapping Up The Blog

Today brings another GFRC office day as the weather conditions preclude any outdoor activities for this humidity sensitive individual.

Please check back on Wednesday as GFRC Online Auctions will be publishing the contents of the upcoming Tenafly CAC Approved Liberty Seated Quarter Sale.

Wishing everyone a pleasant end of June summer day. Be well.

 

 

 

 

June 28, 2021

Two Important Liberty Seated Half Dollar Offerings

First Right of Refusal Process Ending July 1

and

The Latest Ledge Hills Trails Addition: A Fire-pit

 

 

 

Greetings on a hot humid southern Maine morning and welcome to the Blog. Thanks for checking in.

Yes, it was a double 90 Sunday at the Raymond homestead with the same weather conditions on tap for today. 90% humidity and a 90F temperature make for an uncomfortable day when living without air conditioning. Regardless of living in Austin Texas and summer heat, Renee, Mike and Ivy are not use to the high humidity. Floor standing and ceiling fans are operating throughout the house as the only alternative and providing some relief.

Sunday also brought a visit by Eve and Max, two of Renee's Wesleyan classmates. They drove up from Boston hoping for some humidity relief and found little. The highlight of their visit was Max spotting a white tail deer in the back acreage as it crossed the new gravel path.

The New Hampshire Coin Expo, a family visit, a wedding, and yesterday's guest visit (with back acreage preparations) has taken its toll on new purchases processing and price list updates. One client even sent an email reminding me that I had not posted new coins to the price list for four days. Isn't it amazing as to the expectations being placed on me.

 

Two Important Liberty Seated Half Dollar Offerings

Sunday brought about 3.5 uninterrupted hours in the GFRC office after photographing most of the New Hampshire Coin Expo new purchases. Imaging processing is a time consuming activity. Progress is being made with plans for a reasonable new purchase display in Tuesday's Blog edition.

Let's start the NH Coin Expo roll-out with two important Liberty Seated half dollar offerings on a Monday morning. Both pieces have First Rights of Refusal and should not last long once posted to the price list today. The 1840 WB-1 is a gorgeous gem that belongs in the finest Liberty Seated half dollar sets under construction. The 1865-S is absolutely rare at the choice Mint State level and had multiple requests. This piece was sourced from Switzerland by the Hound Dog Dan as part of his ongoing global search for the finest of Liberty Seated and U.S. gold coinage.

 

Two Important Liberty Seated Half Dollar Offerings

1840 WB-1 PCGS MS64+ CAC 50C                                                   1865-S NGC MS63 50C

    

 

As Blog readers are well aware, I am a fan of Seth Godin and his entrepreneurial centric blog posts. Last week brought the following post that spoke to me. The GFRC business continues to expand with higher volumes, higher quality coins, along with launching the GFRC Online Auctions service. Business processes that worked just fine in the 2015-2020 time frame are growing unsustainable in light of a larger sales platform. One of the the unsustainable personalized service offerings are First Rights of Refusal. I will have more on that topic after sharing Godin's commentary on the cost of mistakes and the systematic requirements to engineer out those mistakes. Please read on.

Seth Godin Blogpost: How much does a mistake cost?

Errors are preventable.

But preventing errors requires an investment. Before committing to an error-free production environment, it’s worth calculating the cost.

A typo on this blog is relatively inexpensive. (Thanks to loyal reader Seth Barnes for graciously emailing me when one slips through).

On the other hand, a mistake in calculating the route of a high-speed rail line might cost a billion dollars… And we probably don’t want any errors on the pacemaker assembly line.

If you’ve decided that errors are too expensive for your project, then build a system that doesn’t depend on heroics to avoid errors. Sure, that costs more than just trying harder, but if trying harder was going to reduce errors, it would have worked already.

The pilot who painstakingly works through the per-flight checklist might not be a swashbuckling Maverick type, but they are much less likely to be the victim of a careless error. The reason that planes don’t crash is because there are countless layers of redundancy and systems to be sure that they don’t.

Spend the time and spend the money and the errors can be avoided. Or accept that errors are part of way finding, and realize that your problem is caused by a systemic situation, not a lack of effort.

 

First Right of Refusal Process Ending July 1

And realize that your problem is caused by a systemic situation, not a lack of effort.

Seth Godin has is right concerning the GFRC First Right of Refusal process. Managing an error free First Right of Refusal process is a systematic challenge to ensure that mistakes are never made. When a business scales, so must the business processes and information systems. In terms of the First Right of Refusal process, avoiding double commitments, including those made long ago in a rear view mirror, a manual recording process or worse, relying on memory leads to mistakes. I take my commitments seriously and loath having to pull a commitment after it is given.

In the past two weeks, I've made two mistakes. One was with a fairly new client and I could sense the disappointment and am concerned that he might not order another coin from GFRC. The second is a mistake in progress which broke the camel's back.

The recognition of an unsustainable business process hit me over the head this morning given the complexity of living a regular life and attempting to provide goodwill service to every client. I've made a command decision to end the First Right of Refusal process as of July 1. FRoRs given for the New Hampshire Coin Expo new purchases will be honored to the best of my ability. After July 1, I will continue to announce new purchases in the Blog. The only change is that no First Rights of Refusals will be accepted. Clients must continue to monitor the GFRC price list and have at it once coins are posted.

Yes, I understand that the First Right of Refusal process has been a core part of the GFRC business model and why many clients check the Daily Blog several times per day. No other dealer offers this service and I can understand why. Instead, they publish new purchases and accept orders on a first come first serve basis. Yes, I've traveled a different path with the GFRC business. The core question becomes that of my credibility when extending commitments or the sales volumes that First Rights of Refusals have enabled. My credibility is paramount and today, I am taking action to maintain such.

 

The Latest Ledge Hills Trails Addition: A Fire-pit

I spent from 7:00 AM through 12:00 noon time on Sunday morning building a special fire-pit for a family campfire and marshmallows roasting event. With Maine being challenged with drought conditions, any outdoor fire is dangerous and must be managed to an extreme. So was the thinking when honoring the family's request for this outdoor activity. Secondly, the positioning of the fire-pit must not obstruct access to the primary burn pile area.

The fire-pit and surrounding area were dug with the JD2025R backhoe. All flammable vegetation and surface leaves were removed followed by transporting ten loads of 3/4" gravel with the JD front bucket. The pit was dug 2.5' deep to keep the fire below ground. During the late afternoon hours, I went back to the fire-pit and moved 18" pine log seats into place along with loading the pit with brush. The stage was set with every precaution possible including having the JD tractor nearby with a full load of gravel in the front loader if needed to douse an errant spark. Caution and pre-cautions were the rule.

In the end, the event did not happen. An outdoor grilled dinner ran late followed by Eve and Max needing to return to Boston as Monday is a work day. In the business world, we have the classic saying hurry up and wait.... On a positive note, a well designed fire-pit has been constructed for future use. The 18" pine tree trunk seats are rather cool too!

 

The Latest Ledge Hills Trails Addition: A Fire-pit

 

Global Financial News

Another trading week begins with U.S. equity markets at record levels. Morning market futures are flat and consistent with what we've been seeing throughout June. Markets are slowing moving upward consistent with a recovering economy.

In Asia, Japan -0.1%. Hong Kong flat. China flat. India -0.3%.

In Europe, at midday, London -0.5%. Paris -0.4%. Frankfurt -0.1%.

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

WTI crude oil pricing continues its upward march to $74.13/bbl. Paper gold stands at $1777/oz while Bitcoin is quoting at $34,480.

The 10 Year U.S. Treasury bond yield is slowly creeping upward to 1.52%

 

Wrapping Up The Blog

Today brings a full day in the GFRC office, end of story. There is too much to catch-up on.

Thanks again for checking in at the Blog.

 

 

 

 

June 27, 2021

New Hampshire Coin Expo New Purchases for FRoRs!

and

Preparing Branch Mint Collection Marketing

 

 

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

Warm humid weather will be the rule for the next few days while Renee, Mike, and Ivy continue their stay at the Raymond homestead. Typical late June and early July weather has arrived with some potential rain by mid-week.

Yesterday's outdoor wedding event (Jim and Angie) took place adjacent to Sebago Lake on a large property with several houses, a barn, and beautiful man-made stone waterfall. The newlyweds met at Maine Maritime Academy with Jim presently working for an ocean oil transport company with ongoing two months shifts at sea. Angie remains stateside and is employed by a national sustainability consulting firm and specializes in project management.

 

New Hampshire Coin Expo New Purchases for FRoRs!

On Saturday, GFRC office recovery from the NH Coin Expo was swift and efficient given the afternoon wedding appointment. All new purchases were segregated and nearly filled a double row slabbed box. A Saturday afternoon new purchases preview was published well ahead of the regular Sunday morning Blog publishing time to reward dedicated Blog fans.

The follow offerings will be reaching the price list this coming week. Those that are not sold this week will be making the trip to Orlando, Florida come Monday July 5 for exhibit at the Summer FUN show. First Rights of Refusals are welcomed and will help guide my image processing and price list loading priorities.

GFRC is most proud to be presenting the following new purchases. Dan White and I have actively worked to rebuild the 30 Day Price List, the CAC Price List, and of course, the U.S. gold price list.

Indian 1C: 1871 NGC AU58BN CAC

Capped Bust H10c: 1831 LM-1.2 NGC MS63 CAC

Seated H10c: 1838 Lg Stars NGC MS62 CAC; 1840 Drapery PCGS EF40 CAC; 1853 No Arrows PCGS EF40 CAC; 1863 NGC MS66 CAC

Capped Bust 10c: 1834 JR-4 NGC AU55 CAC; 1836 JR-3 NGC AU50

Seated 10c: 1840 F-101 Drapery PCGS EF45CAC; 1841-O F-103 PCGS AU55 CAC; 1851-O F-101 PCGS EF40; 1869-S F-101 PCGS EF45 CAC; 1871 F-101a NGC MS62 CAC low pop; 1873 Arrows PCGS EF45 CAC

Seated 20c: 1875-CC BF-2 PCGS MS62 CAC

Seated 25c: 1849 Briggs 1-A Compass Point PCGS EF45 Gold CAC; 1850-O PCGS EF45 CAC; 1887 NGC MS65 CAC

Draped Bust 50c: 1806/5 O-101 PCGS VF35 CAC

Capped Bust 50c: 1820/19 O-102 NGC VF35 CAC

Seated 50c: 1840 PCGS MS64+ CAC; 1840(O) PCGS VF25; 1840(O) PCGS AG03 CAC; 1850 PCGS EF45 CAC; 1865-S NGC MS63 fresh from Switzerland

Seated $1: 1840 NGC EF45 CAC; 1846 NGC EF45

Gold $1: 1857-S PCGS AU55 CAC; 1874 NGC MS64 CAC Pristine Fatty holder

Gold $2.5: 1901 PCGS MS66 CAC; 1903 PCGS MS66+ CAC; 1926 PCGS MS64 CAC; 1927 PCGS MS63 CAC OGH

Gold $5: 1847 PCGS MS62+ CAC superb gem; 1881 PCGS MS63 CAC; 1907 PCGS MS63+ CAC; 1909 PCGS MS64 CAC

Gold $10: 1849 PCGS AU53; 1894 PCGS MS62 CAC; 1894-S PCGS MS61 CAC; 1901 PCGS MS62 CAC; 1907 Liberty PCGS MS62 CAC; 1910 PCGS AU58 CAC; 1932 NGC MS64; 1932 Raw MS62+

Gold $20: 1897-S PCGS MS64 CAC; 1907 Saint PCGS MS65; 1911 NGC MS63 CAC; 1924 PCGS MS65

 

Preparing Branch Mint Collection Marketing

Today's primary focus, other than a few morning hours on the JD2025R, is developing marketing materials and advertising content for the forthcoming Branch Mint Collection's Exceptional Liberty Seated Type Set Sale. The effort is two-fold with planned "mini-catalog" handouts at the Summer FUN show and a featured advertising spread in the July E-Gobrecht.

I will be in the GFRC office throughout the afternoon preparing the marketing graphics and content. Hopefully, there will be time to post a few new purchases to the the price list.

 

GFRC Is Not Attending Chicago ANA

I believe that most clients are assuming that GFRC will be attending the Chicago ANA. I hate to disappoint but have made a command decision to not attend this show. As you know, I tend to walk down a different path than most dealers. After careful evaluation of risks/rewards concerning the ANA show, I have decided to stay in Maine and work from the GFRC office during that timeframe.

Fundamentally, GFRC has grown to the point where one must drive to a show or have inventories transported by a security company. A road trip from Maine to Chicago requires four days of travel time along with entering a rough and tough city on roadways that I have no experience with. The required time to attend this show is ten days away from the GFRC office after a similar event with Summer FUN. The impact to GFRC consignment clients would be sizable with so much time away from the office. Finally, the annual Summer ANA is the highest cost show of the year based on bourse floor fees and surrounding hotels.

When considering risks, show attendance costs, and ten days of lost opportunity in the GFRC office without consignment processing, the business break-even point is onerous.

I recognize that many clients will be disappointed that GFRC will not be in attendance at the ANA show. 2022 will be different as the country will be completely back to normal after the Covid-19 pandemic. This will also provide time for GFRC to locate and contract a security company for transporting inventory for future major shows. The days of hauling heavy luggage filled with coins via airline carry-on and attempting to place in an overhead bin are behind me.

 

Wrapping Up The Blog

Let's end the Blog at this point.

The NH Coin Expo was a great success, both from a selling and buying perspective. Overnight First Rights of Refusals have been substantial. Those FRoRs will be carefully documented.

Already, my mind is focused on the upcoming Orlando Summer FUN show. Though this is only a three day show, preparations and driving from Maine through Essex, CT (to pick-up Dan) on a two day southern trip will consumed a full week with no office activities. The coin show circuit is back which is a good and bad thing. Good in that Gerry and Dan can meet clients at major coin shows along with aggressive buying at dealer pre-show events. Bad in that the coin show circuit necessitates time away from the GFRC office along with the hectic office recoveries after returning from long distant shows. Maine summers are much too short and spending a good part of the summer on the road is incongruent with a "retirement" business.

Thanks for checking in. Be well!

 

 

 

June 26, 2021

Back in the GFRC Office with New Purchases Galore

and

Popular Branch Mint Collection Auction Lots

 

 

Greetings on a foggy Saturday morning and welcome to yet another Daily Blog edition.

Honestly, I'm tired this morning and facing the usual administrative workload after Thursday and Friday's wild ride at the NH Coin Expo. There are piles of new purchases to load into the COIN system along with removing all the sold coins from the price list. Today also brings my niece's wedding and the reason for leaving the Manchester show early. I'm certain that Saturday would also have been a second day of strong sales.

Renee, Mike, and grand-daughter Ivy are also at the homestead and sleeping after Friday's journey. Ivy has made herself right at home and loves Buddy the Dog.

You've heard it before, but I will say it again. The U.S. coin market is rip-roaring hot. Collectors are realizing that prices are moving up and no longer holding back on purchasing much needed better dates. This was readily apparent on Friday as the the first sale of the day was an 1856 Liberty Seated dollar graded NGC AU58 from the Osprey Collection. Most GFRC sales on Friday were four figure coins including many CAC approved examples. In just one day, GFRC sold well into the mid five figures and bought to a similar level.

 

Popular Branch Mint Collection Auction Lots

The Branch Mint Collection's Exceptional Liberty Seated Type Set Sale display garnered substantial attention on Friday. Other dealers were in the best position to appreciate the significance of these offerings with many cellphone images taken of individual coins to be passed along to clients. Following are the top viewed coins on Friday.

Branch Mint Collection - Popular Lots at the NH Coin Expo

1872-S WB-1 PCGS MS65 CAC 50C

Gem Original, Branch Mint Collection This wildly reflective half is a multi-colored headlight and reveals a full spectrum of color atop the prooflike surfaces. A golden obverse skin hosts blue-green and russet shades while the reverse exhibits rings of violet and blue, leading to gold rims. The obverse in particular is the very definition of "skin," which has the appearance of a foil that one might peel back. Apart from a few light marks in the right obverse field the surfaces are near-perfect. WB-1, with the 1 in the date centered over three dentils, while the mintmark is small and wide. PCGS reports three examples in MS65 with a single MS66 piece finer. CAC notes two coins at MS65 (including this) and two pieces at MS66. While collectors may alternately be drawn toward either Mint State or proof formats, this colorful, flashy piece is a reminder that business strikes can come with highly prooflike finish. Housed in a PCGS Gen 6.0 (2015-2020) holder with CAC approval.

 

1875-S BF-13 PCGS MS66+ CAC 20C

Gem Original, Branch Mint Collection This piece is a stunner under a light, revealing swirling shades of russet, gold, and blue, and it is challenging to recreate this effect with a single image. Active cartwheel accompanies the rich toning and the eye appeal is strong. Surfaces are virtually flawless and close inspection with a glass identifies only the barest ticks. BF-13, with a misplaced digit in the denticles and a filled mintmark, while a few spider-web die cracks are evident in the reverse legend. The excellent Brunner-Frost guide to twenty-cent varieties is freely available at doubledimes.com. The twenty-cent denomination was a short-lived concession to the silver lobby, who had little use for the coin after Morgan dollars went into production in 1878. PCGS notes six pieces in MS67 and one in MS68, while CAC reports only one piece higher, at MS67. Housed in a PCGS Gen 5.0 (2015) Dupont hologram holder with CAC approval. This piece is an excellent choice for a collector seeking a single piece to exhibit the twenty-cent denomination, and will draw appreciation from even the most advanced numismatists.

 

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

Gem Original, Branch Mint Collection The originality of this early Seated half is hard to overstate, with hairline-free surfaces and pleasing gray skin. Varied shades appear as the coin is tilted, alternately revealing gold, blue, and copper colors on both sides, and the overall eye appeal is strong. A few fields voids are noted above the rock, none of recent origin. WB-4, with tangential lines in the rock support behind the heel. Note, the Bugert attribution guides for the Seated half series are freely available on the LSCC website, lsccweb.org. Stars are well-struck while the reverse exhibits characteristic weakness south of the shield. CAC has certified a single MS63 coin (this piece) at the Gold CAC level and five pieces at MS64. With Gold status ensuring CAC approval at the MS64 level, this piece is essentially tied for finest known at CAC. PCGS has certified five pieces higher in the MS65 band. Housed in a PCGS Gen 6.0 (2015-2020) holder with Gold CAC approval. Among the finest known for the issue, this piece would easily complement even the most advanced sets of Seated halves. Ex. Eric P. Newman (Heritage 11/2013, lot 33466, there appearing in an NGC MS64+ CAC holder, realized $61,687.50), and previously acquired by Newman from the famed collection of Colonel E. H. R. Green. This coin truly has it all - aesthetic appeal, near top pop status, and one of the most storied pedigrees in numismatics.

 

1891-O Briggs 2-B PCGS MS64 25C

Near-Gem Original, Branch Mint Collection An even, light gray skin covers both sides of this better-date Seated quarter, representing the final year of production for this long 19th century series. Additional bluish shades highlight the right obverse field in addition to the space above the left wing. Surfaces are prooflike, as is typical for high-grade 1891-O survivors. At least one piece has been certified as a branch Mint proof but more likely represents a somewhat more reflective example than typically seen. The strike of this example is needle sharp with completely defined stars and strong claw and feather detail. Briggs 2-B, with a date sloping upward and a tilted mintmark. PCGS notes only four pieces graded higher, including three coins at MS65 and a single piece at MS67+. With a mintage of 68,000 pieces, this coin is challenging in terms of both condition and absolute scarcity. Housed in a PCGS Gen 6.0 holder (2015-2020) with embedded hologram.

 

Wrapping Up The Blog

Please check back on Sunday morning for a long list of NH Coin Expo new purchases. Yes, I did promise to showcase new purchases however show sales must be first loaded into the COIN system for a price list and Collectors Corner update. Remaining NH Coin Expo inventory must be merged with those coins left behind in the GFRC safe. As part of that merging process, all new purchases will be separated and placed into the photography queue. Bright sunny weather is forecaster for Sunday and an ideal time to photograph the many new purchases.

Thank-you for checking in at the Daily Blog.

 

 

 

June 25, 2021

Late Daily Blog Edition - Wild NH Coin Expo

 

 

Greetings and welcome to a delayed and very brief Daily Blog edition.

The U.S. coin market remains robust and exciting. GFRC has already made a host of four figure sales during dealer setup and Friday's early bird session.

Thursday brought a host of dealer to dealer buying totaling 25+ pieces with most being CAC approved. Even the Gerry Fortin core Liberty Seated Dime collection realized an upgrade; a magnificent 1882 PCGS MS67+ CAC dime with amazing strike and luster.

Please check back on Saturday morning as I will list all the NH Coin Expo new purchases.

Thanks for stopping by.

 

 

 

 

June 24, 2021

Summer NH Coin Expo Show Time! GFRC at Table 606

and

Branch Mint Collection Featured Lots

 

 

Greetings and welcome to another Blog edition. Thank-you for stopping by.

A Thursday morning arrives with upcoming road trip to Manchester, New Hampshire looming in a few hours. I'm looking forward to being back on the coin show circuit especially with Summer FUN taking place in two weeks. The renewed coin show circuit provides an opportunity to spend time with Dan White and renew our working relationship and passion for the finest numismatic items.

Today brings NH Coin Expo dealer setup starting at 3:00 PM. Dan White and I will be in a buying mood considering the strong 2021 year to date demand for GFRC offerings. Once dealer setup starts, Dan will be walking the bourse in search of potential new purchases. Gerry will be back at Table 606 loading the display cases with nine double row slabbed boxes of inventory. It will be an exciting exhibit including a case dedicated to the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale lots. The Branch Mint Collection online catalog has already been published and is available by clicking on the following banner.

 

Much of Wednesday was spent checking through GFRC inventory and adding pricing labels where required. Prices for a fair number of CAC approved coins were increased given the rising prices in the CDN CAC guide. Those pricing increases have been posted on the GFRC price list and Collectors Corner.

As a reminder to customers who attend the Manchester show, GFRC's CAC approved coins are net priced per the labeled offer price. I'm certain that dealers and new clients to GFRC will be pursuing discounts as part of the purchasing process. However, our policy is firm. CAC approved coins are priced as marked with no discounting. The U.S. coin market is in an inflationary cycle with prices moving up. During inflationary periods, it is best to purchase an appreciating asset in the near term else the purchase price will become higher in the matter of months.

 

GFRC Table 606 at Summer New Hampshire Coin Expo

June 24-25 Only

 

 

Branch Mint Collection Featured Lots

Clients who visit the GFRC Table 606 will be treated to a magnificent Liberty Seated coinage display. The Branch Mint Collection's upcoming July 10th auction lots will be showcased and ready for admiration. Much has already been written concerning the importance of this auction and the individual lots. It is one thing to view online images. However, there is no comparison for seeing the lots in hand and under a bright light.

Today's Blog edition highlights two amazing "color coins" that will be on display. The first is the exceptional 1875-S double dime with its stunning luster and toning. The images speak for themselves with little else needing to be said. The 1839 No Drapery Liberty Seated half is a powerful type coin that originated from the Eric P. Newman Collection during November 2013. The toning patterns and coloring are out of this world.

 

Branch Mint Collection Featured Lots

1875-S BF-13 PCGS MS66+ CAC 20C

Gem Original, Branch Mint Collection This piece is a stunner under a light, revealing swirling shades of russet, gold, and blue, and it is challenging to recreate this effect with a single image. Active cartwheel accompanies the rich toning and the eye appeal is strong. Surfaces are virtually flawless and close inspection with a glass identifies only the barest ticks. BF-13, with a misplaced digit in the denticles and a filled mintmark, while a few spider-web die cracks are evident in the reverse legend. The excellent Brunner-Frost guide to twenty-cent varieties is freely available at doubledimes.com. The twenty-cent denomination was a short-lived concession to the silver lobby, who had little use for the coin after Morgan dollars went into production in 1878. PCGS notes six pieces in MS67 and one in MS68, while CAC reports only one piece higher, at MS67. Housed in a PCGS Gen 5.0 (2015) Dupont hologram holder with CAC approval. This piece is an excellent choice for a collector seeking a single piece to exhibit the twenty-cent denomination, and will draw appreciation from even the most advanced numismatists.

 

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

Gem Original, Branch Mint Collection The originality of this early Seated half is hard to overstate, with hairline-free surfaces and pleasing gray skin. Varied shades appear as the coin is tilted, alternately revealing gold, blue, and copper colors on both sides, and the overall eye appeal is strong. A few fields voids are noted above the rock, none of recent origin. WB-4, with tangential lines in the rock support behind the heel. Note, the Bugert attribution guides for the Seated half series are freely available on the LSCC website, lsccweb.org. Stars are well-struck while the reverse exhibits characteristic weakness south of the shield. CAC has certified a single MS63 coin (this piece) at the Gold CAC level and five pieces at MS64. With Gold status ensuring CAC approval at the MS64 level, this piece is essentially tied for finest known at CAC. PCGS has certified five pieces higher in the MS65 band. Housed in a PCGS Gen 6.0 (2015-2020) holder with Gold CAC approval. Among the finest known for the issue, this piece would easily complement even the most advanced sets of Seated halves. Ex. Eric P. Newman (Heritage 11/2013, lot 33466, there appearing in an NGC MS64+ CAC holder, realized $61,687.50), and previously acquired by Newman from the famed collection of Colonel E. H. R. Green. This coin truly has it all - aesthetic appeal, near top pop status, and one of the most storied pedigrees in numismatics.

 

Global Financial News

After moving down ever so slightly on Wednesday, U.S. equities are poised for another positive day and potential new record levels. Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan flat. Hong Kong +0.3%. China flat. India +0.8%.

In Europe, at midday, London +0.3%. Paris +1%. Frankfurt +0.8%.

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

WTI crude oil has established the $73/bbl level and will continue to rise. Paper gold is flat at $1783/oz while Bitcoin churns at $33,279.

The 10 Year U.S. Treasury yields has moved up slightly to 1.49%.

 

Wrapping Up The Blog

Let's end the Blog as this point given a busy morning that starts with responses to overnight orders along with regular shipping. As usual, a few packed coins sold during the overnight and must be pulled from the Manchester inventory boxes.

I will do my best to prepare a Blog edition on Friday but there are no guarantees at this time. I suspect that Dan and I will be consumed from 3:00 - 8:00 PM today along with having dinner. The bourse opens for dealers at 8:00 AM on Friday.

Thank-you for making the Daily Blog a regular part of your morning routine.

 

 

 

 

June 23, 2021

Summer NH Coin Expo Arrives Tomorrow - GFRC Table 606

and

Ledge Hill Trails Progress

 

 

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

Grilling in the rain was never so pleasurable as last evening's dinner preparation. Yes, you read that right.

Maine is in a drought with every shower or rain event being precious. Much of the homestead landscaping improvements are predicated on rainy conditions. The patched backyard lawn requires extended moisture to soften grass seeds and get on with the appearance of a continuous lawn. The entrance road for the Ledge Hill Trails project requires rain to pack down the 3/4" gravel into a hard walking surface. Each day brings a viewing of the weather report and prayers for several days of continuous precipitation.

Tuesday afternoon and evening brought much needed rain and the ideal type; slow and soaking. I was never more pleased to be grilling fresh bok choy along with sausage while getting wet for the effort.

After quick morning GFRC shipping, several hours were allocated to the Ledge Hill Trails project. The main pathway is taking shape. More on this topic shortly.

Today brings inventory selection and packing for the Summer NH Coin Expo in Manchester NH. Call me spoiled as the Covid-19 pandemic has transitioned the GFRC business into mostly an online activity. Inventory management for online sales is straightforward. The inventory resides in a large safe and is pulled as orders appear. There is no need for pricing stickers and special holding boxes for active customer orders. All this changes today with the upcoming NH Coin Expo and Summer FUN shows. The entire inventory must be revisited and updated with current online prices via those little Avery labels. Coins on hold must be separated to ensure that they don't mistakenly end up in the Manchester show cases. This effort will consume the better part of a day. On a positive note, GFRC inventory will be once again organized for the coin show circuit.

 

Summer NH Coin Expo Arrives Tomorrow - GFRC Table 606

Tomorrow brings a scenic drive to Manchester, New Hampshire via I-95 and Route 101. Show setup takes place at 3:00 PM along with checking into the hotel for a night's stay. My partner in numismatics, Dan White, will be driving up from Essex CT.

GFRC will be exhibiting its inventory and the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale lots through end of day Friday. GFRC will not be attending the Manchester show on Saturday due to a long term commitment that was previously scheduled for June 26. My niece's wedding takes precedence over a coin show. I'm quite excited about Renee and family flying in on Friday evening for the wedding and staying at the homestead through early next week.

As a reminder, this illustration of the GFRC table location should help clients find Dan and I on the bourse floor. We expect to be quite busy throughout the day given our quality inventory and the GFRC Online Auctions display. Of course, buying will be paramount during Thursday setup time.

 

GFRC Table 606 at Summer New Hampshire Coin Expo

June 24-25 Only

 

Seth Godin Blogpost - Self-conception

Each morning, a visit is paid to Seth Godin's daily blogposts. There are days when his blogposts ring so true at a personal level. Tuesday's post resonated and well articulated my approach to life and the GFRC business.

A mirror is the most direct form of personal feedback. Each morning, I can look in that mirror and be comfortable with who I am and the contributions made to numismatics and family. Of course, my nature is to walk the path least traveled towards exploring alternatives for whatever is taken on as a life challenge. The GFRC business is an example of a non-traditional approach to marketing and selling coins. There are strict integrity standards, transparency, education, and providing the utmost value to clients as a priority. Many in the numismatic industry don't understand how GFRC can operate in a non-traditional manner with very limited advertising, no newsletters, and without want list servicing. Some close colleagues have tried to influence GFRC to become more mainstream and follow the well traveled path.

This Godin blogpost shares my perspective and is a response to those who provide advice from their paradigm.

 

Seth Godin Blogpost - Self-conception

The mirror might not lie, but no one looks at you in the mirror more than you do.

Your business or project or life story is intimately known to you. You have lived it. But the outside world will never see all of it, can never see all of it.

And so we bump into the disconnect. The disconnect between the thing we know so well and what others have decided based on their own agenda, background and limited experience with us and our work.

When they don’t align, we can focus on the quality and consistency of our story, and be sure that our actions are integral with the conception we’re working so hard to share.

Consistency is what people pay attention to, and when it’s not there, they make up a story about why. Because they can’t truly know.

 

Ledge Hill Trails Progress

Many GFRC clients have expressed interest in the back acreage project and encouraged me to continue showcasing images in the Blog. When working with the JD2025R, the cellphone is typically left in the office for two reasons. First is the risk of banging the phone against a hard surface. Second is not wishing to be disturbed by phone calls. Unfortunately, the lack of a cellphone in pocket translates into a lack of project status images for the Blog.

On Tuesday, I made a point of bringing the cellphone along to snap a Ledge Hills Trails project report. Please see the following image which illustrates the main pathway down into the walking trail complex. I'm pleased with the progress as the main pathway is close to complete at the branching off point for the narrower walking trail. Much clean-up remains on either side of the main pathway. There are plenty of 8' to 12' logs to be given away as firewood. Brush piles are unsightly and will be moved, with the JD2025R's grapple, to the primary burning area. All this takes precious time though incremental progress is being made.

I knew that the Ledge Hill Trails project would be a massive undertaking. It is no different than launching the GFRC business back in 2014. Years of effort are required to build something truly special in an age of instant gratification.

 

Ledge Hill Trails Progress

 

Global Financial News

Slow and steady is the mantra for investing in U.S. equities. There are those "analyst" who make a living by perpetuating anxiety as their success formula. Investing is defined as expend money with the expectation of achieving a profit or material result by putting it into financial plans, shares, or property, or by using it to develop a commercial venture. This is the opposite of day trading and attempting to correlate every minor market movement to a news event. Investing requires logic rather than emotions.

Tuesday brought a new NASDAQ record at 14,253 with the DJIA and S&P at near record levels. The U.S. economy is recovering from Covid and will continue to expand through 2021. Invest accordingly.

Following are morning market futures with U.S. markets biased towards a positive open.

In Asia, Japan flat. Hong Kong +2%. China +0.3%. India -0.5%.

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

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

WTI Crude oil pricing continues to climb and might hit $80/bbl by end of summer. Today's quote is $73.40/bbl. Paper gold is priced at $1783/oz while Bitcoin is bouncing around after its technical chart "death cross". The morning quote, at least for the moment, is $33907.

The 10 Year U.S. Treasury bond yield is unchanged at 1.47%. Please watch this number closely.


Wrapping Up The Blog

It is another ideal day to be working in the back acreage. Therefore, my focus quickly shifts to the day's packing and shipping demands for completion by 10:00 AM. At that point, I will spend several hours in the back 20 acres before returning to GFRC inventory packing through bed time.

Thanks for checking in at the Blog. Be well.

 

 

 

June 22, 2021

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Catalog is Online

and

Yet More New Purchases and Consignments!

 

 

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

The stars were nicely aligned on Monday leading to a pleasant reserve pricing discussion with the Branch Mint Collection consignor. We saw eye to eye on nearly all GFRC recommendations and split the difference on one lot. The session was filled with well thought out questions as pricing high end Mint State Liberty Seated coinage requires a working knowledge of the numismatic market and potential buyers. In the end, we quickly settled the reserve prices followed by my working into the late evening to publish the online catalog. I'm thoroughly pleased with the overall outcome and hope that the GFRC community enjoys viewing the individual lots. Len Augsburger's careful research is readily apparent and consistent with the finest of major auction house catalogs.

Please click on the Branch Mint Collection banner to access this marvelous sale.

 

Branch Mint Collection's Exceptional Liberty Seated Type Set Sale Catalog is Online

Click on Banner to Access

 

 

Why GFRC Online Auctions Business Model is Collector Friendly

Like many GFRC clients, I've sold a few coins with the major auction houses to gain a sense of the sale process, associated fees, and payment speed. Those ventures taught me much on auction sales subtleties along with the risks. For larger collections, some individuals will actually contract a dealer to represent them with the auction house as the process can be daunting. Auction house reserve setting policies can be challenging to navigate along with negotiating seller's fees.

When designing the GFRC Online Auctions platform, there were two imperatives; simplicity and collector friendly.

The GFRC auction platform is tightly integrated with the retail sales system and driven by one universal database, the COIN system. This integrated solution leads to breakthrough simplicity for clients.

- One commission rate regardless of selling consignments on the retail price list and/or on the GFRC auction platform.

- One reserve number per lot, again regardless of selling at auction or on the retail price list.

The GFRC Online Auctions platform is truly that simple and straightforward to navigate. Clients know the exact commission fee per lot with no negotiations required. The reserve price per lot is a GFRC recommendation and approved by or modified by the client. There is no mystery for the reserve setting process as GFRC acts as a consultant to each client. The only GFRC requirements is that unsold lots at auction must migrate to the retail sale price list for a second selling opportunity.

Let's face it, the numismatic market can be thinly traded and is dependent on buyer economic prosperity. Dealers act as the buyers of last resort (wholesale basis), for major auction houses, when coins are not reserved or auctioned with improperly set reserves. When dealers must step in, the net proceeds to collectors might be disappointing and worse case, startling.

Few dealers use the GFRC Online Auctions platform to source coins as compared to the major auction houses. Why? Reserves are set at fair retail levels to protect clients. Once a substantial collection enters the GFRC sale system, it moves through sales stages to maximum collector upsides while protecting clients on the downside. GFRC auctions bring an opportunity for truly special offerings to secure competitive bidding. Those lots that do not sell at auction may still be fairly priced but without a buyer at that point in time. These lots move immediately to the GFRC price list and are further marketed on the Collectors Corner portal. More sales occur as some collectors just don't like to participant at auctions and would rather purchase from a fixed price list.

At GFRC, your team walks down the path least traveled and employs independent thinking to ensure every client has a positive experience. Since operating with one of the lowest cost structures in the coin business, GFRC can secure top value and returns for your financial holdings.

 

Yet More New Purchases and Consignments!

The NH Coin Expo arrives on Thursday with dealer setup and trading. Friday brings a full day of retails sales at Table 606.

One of my challenges, now that the Branch Min Collection catalog is posted, is loading a backlog of new purchases and consignments to the price list before heading to Manchester. To that end, I will be placing fresh offerings on the price list without descriptions; just images, prices, and the holder type. These new offerings will be brought to the Manchester show as part of regular inventory and are subject to sale on the bourse floor. If GFRC clients would like first shot at the price list asking price, I will place on hold and remove from the NH Coin Expo inventory boxes. All that I ask for each online buyer to be serious and not window shopping. There is nothing I hate more than a return when a coin could have been easily sold on a bourse floor.

Following are fresh offerings that I hope to load to the price list today with only images and prices.

 

Yet More New Purchases and Consignments!

1808 O-102a PCGS MS63 CAC 50C

1836 Lettered Edge NGC AU58 CAC 50C                                           1899 PCGS MS64 CAC G$10          

    

     1853 PCGS MS63 G$2.5                            1899-S PCGS MS64 G$5                          1910 PCGS MS62 OGH G$5

            

 

 

Global Financial News

Last week's U.S. equity market hissy fit is in the rear view mirror after strong gains on Monday. The DJIA starts the day at 33,876 while the S&P 500 stands at 4225. Morning market futures are forecasting a flat open at 9:30 AM in New York.

In Asia, Japan +3.1%. Hong Kong -0.8%. China +0.8%. India flat.

In Europe, at midday, London flat. Paris -0.1%. Frankfurt +0.3%.

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

Last week's drop in WTI crude oil prices has also been fully recovered and then some. The morning quote stands at $72.78/bbl. Gold is attempting to form a new trading base at $1783/oz. Then there is Bitcoin where is staring at a "death cross" on the technical charts. Traders who short stocks or commodities love death crosses as the outcomes are fairly predictable to the down side. Bitcoin stands at $31,789 and could drop into the high $20K level this coming week.

Regardless of all the market gyrations, the 10 Year U.S. Treasury bond yield stands at 1.47% and indicates all is well.

 

Wrapping Up The Blog

I promised myself that Tuesday afternoon will be dedicated to time on the JD2025R and incremental progress on the Ledge Hill Trails project. I need some time-off before the Manchester show along with Renee and family arriving late Friday. The JD2025R tractor time will be weather dependent as rain is due for the afternoon hours. We shall see at noon time. If it is not raining, I will be on the tractor.

As for GFRC orders, those will be responded to during the evening hours.

Thanks for checking in at the Blog! Be well.

 

 

 

June 21, 2021

Presenting the Branch Mint Collection Gallery

An Exceptional Liberty Seated Type Set Sale

 

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

The publishing of the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale online catalog and attending the New Hampshire Coin Expo are the two substantial events of the week.

Preparations for the Manchester show will require a full day's effort since GFRC has not been snickering coins with pricing labels in the Covid era. On Wednesday, the NH Coin Expo inventory will be selected along with each piece being sticker priced. For New England clients attending the show, GFRC will be at Table 606 with quality inventory items and a display of the Branch Mint Collection's upcoming Liberty Seated type set. Please be aware that all CAC approved coins in GFRC inventory will be net priced. In other words, the price on the sticker is the price with no discounting being entertained. It should be obvious to collectors, at this point, that we are in an inflationary market with prices moving upward quickly. There will be not discussion on CAC approved inventory pricing for dealers or collectors.

Today's Blog edition will be brief as there are two substantial tasks that will be completed by end of day. First is the completion of the Branch Mint Collection image gallery. Second is reserve pricing recommendations to the client for his contemplation and approval. Tuesday brings the publishing of the Branch Mint Collection's Exceptional Liberty Seated Type Set Sale online catalog at the GFRC Online Auction link. I believe that the GFRC community will be most interested in the reserve prices and individual lot description after scrolling down a bit further in today's edition.

 

Presenting the Branch Mint Collection Gallery

The arrival of an exceptional Liberty Seated coinage collection to the numismatic market place is an important and noteworthy event. Exceptionalism best describes the outcome of a passionate Liberty Seated Collectors Club member, and GFRC client's effort to be build a distinguished type set the hard way. What do I mean by the hard way?

Nearly all type sets are assembled with high grade "common date" pieces due to availability. In many cases, this means Philadelphia Mint strikes.

The Branch Mint Collection consignor is an independent thinker with a desire to build a type set that would be recognized for both its beauty and degree of difficulty. Degree of difficult was assured by limiting the set to only those strikes from New Orleans, San Francisco, and Carson City mints. CAC approval and high grade Mint State requirements further elevated the challenge. In some cases, the collector faced the obstacle of not being able to locate a specimen during the six year construction period that met his parameters. This is apparent for the Liberty Seated quarter dollar dates as this denomination is brutally difficult at the Mint State CAC approved level.

My acknowledgment and congratulations go out to the Branch Mint Collection consignor for his amazing effort and outcome. He went down a road least traveled and did it so well!

I'm certain that many of the following pieces will be promptly purchased at the forthcoming GFRC Online Auctions sale that begins on July 10. Those that do not sell will be placed on the GFRC price list and Collectors Corner for additional market expose. This is the inherent benefit of consigning with GFRC and its integrated sales approach with no downside risk to clients.

It is my extreme pleasure to be showcasing the Branch Mint Collection's sale gallery in today's Daily Blog edition. Please take 15-20 minutes of your morning time to carefully scroll down through the collection lots and enjoy each piece for its natural beauty and associated rarity. The complete online catalog will be published on Tuesday.

 

 

Presenting the Branch Mint Collection Gallery

An Exceptional Liberty Seated Type Set Sale

 

Liberty Seated Half Dimes

1838-O V-2 PCGS MS63+ CAC H10C

1839-O V-5 PCGS MS64 CAC H10C                                             1848-O V-4 PCGS MS66+ H10C

    

1855-O V-1a PCGS MS65 CAC H10C                                           1860-O PCGS MS65 CAC H10C   

    

 

Liberty Seated Dimes

1838-O F-102 PCGS MS64+ CAC 10C

1839-O F-104a PCGS MS66+ CAC 10C

1842-O F-105 PCGS MS63 CAC 10C                                                   1853-O F-102 PCGS MS64 10C

    

   1873-S F-101 PCGS MS64+ CAC 10C                                    1891-O Unlisted PCGS MS66 CAC 10C 

    

 

Liberty Seated Double Dime

1875-S BF-13 PCGS MS66+ CAC 20C

 

Liberty Seated Quarter Dollars

1851-O Briggs 1-A PCGS MS63+ 25C

1853-O Briggs 1-B PCGS MS64 CAC 25C

1840-O No Drap Briggs 1-A PCGS MS63 25C                                1854-O Briggs 2-E PCGS MS64 25C     

    

1874-S Briggs 1-A PCGS MS66 CAC 25C                                     1891-O Briggs 2-B PCGS MS64 25C

    

 

Liberty Seated Half Dollars

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

1847-O WB-22 PCGS MS65+ Gold CAC 50C

   1853-O A&R WB-21 PCGS MS64 CAC 50C                             1854-O Arrows WB-31 PCGS MS65 CAC 50C

    

          1872-S WB-1 PCGS MS65 CAC 50C                                 1874-CC Arrows WB-3 PCGS MS63 CAC 50C

    

 

Liberty Seated Dollar

1860-O OC-7 PCGS MS63+ CAC $1

 

Trade Dollar

1877-S PCGS MS65+ CAC T$1

 

 

Global Financial News

After a market retreat last week, today's morning market futures are flashing green for U.S. equities. The fear associated with Federal Reserve hawkishness appears to have abated. Sector rotation is apparent with monies moving back into Big Tech.

The travel industry is experiencing rapid recovery and placing stress on scaled back airline capacity and support systems.

Following are morning market futures to start the trading week.

In Asia, Japan -3.3%. Hong Kong -1%. China +0.1%. India +0.3%.

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

Futures at 6:20, Dow +0.6%. S&P +0.5%. NASDAQ +0.6%.

Bitcoin pricing took another hit during the weekend with a morning quote of $32,641. The Beijing Central Government has launched a serious campaign to close down the last of the Bitcoin mining operations in remote provinces.

WTI crude oil pricing has quickly recovered from last week's dollar strength fears and is quoting at $71.70/bbl. Paper gold is still lagging at $1784/oz.

The 10 Year U.S, Treasury bond yield has dropped to 1.43%.

 

Wrapping Up The Blog

There is little else to share at this point.

If planning a NH Coin Expo purchase pick-up, I would appreciate a reminder email as there is much taking place in the GFRC office this week.

Thanks again for stopping by and I hope that you've enjoyed today's gallery.

 

 

 

 

June 20, 2021

Happy Father's Day to all the Great Dads

and

How About a Matched Liberty Seated Double Dime Set?

 

 

 

Greetings on a beautiful Sunday morning and welcome to a weekend Blog edition.

A Happy Father's Day wish goes out to all of us great Dads in the community. Enjoy the moment.

My day started at 3:30 AM for transporting Len to the Portland Maine airport. Yes, Len is already on his way back to Chicago as the Blog is being composed. He GFRC office was brief but productive. All lots within the Branch Mint Collection's Exceptional Liberty Seated Type Set and the Tenafly CAC Approved Liberty Seated Quarter Collection sales have be reviewed and cataloged. Saturday afternoon brought a lobster roll dinner in Raymond center along with additional time in the basement sound room before an early time to bed.

Today's southern Maine weather will see an afternoon high temperature of 87F. Being a wise individual, my plan is to jump on the JD2025R tractor right after the Blog is uploaded and work outdoors until noon time. The post noon hours will be spent in the GFRC office in front of a fan as there is a host of incremental new purchases to process. Top priority is preparing the Branch Mint Collection images and proposing reserve prices to the consignor to enable a publishing of the online catalog prior to leaving for the Manchester show. As mentioned earlier, the Branch Mint Collection lots will be on display at the NH Coin Expo and Summer FUN.

 

GFRC Approached for Potential 300 Piece Collection Sale

There appears to be a trend in the numismatic industry concerning the use of coin "capital" to fund southern state real estate purchases. As some of us in the community age, thoughts of retirement in Florida, Georgia, and South Carolina are taking hold. One approach to fund that retirement home is the liquidation of numismatic holdings.

This is the situation that appeared last evening via email. One of GFRC's active clients is toying with the idea of selling his 300+ piece coin collection. This individual has been an active GFRC customer for the past year. He has attempted a few sales with a major auction house and was disappointed with the prices realized and net proceeds after fees.

My role is clear and well defined. I'm here to help GFRC clients with their numismatic needs as long as the value of the coins makes sense for my precious time. The thought of handling a major collection is always exciting. However, scheduling my time is a critical aspect for major projects as I don't wish to over commit and disappoint on expectations.

I've asked this individual to build an Excel based catalog of his entire collection as a first step. Once the contents are known, I will be in a position to make recommendations for consignment vs. outright purchase. Stay tuned for updates as this opportunity unfolds.

 

How About a Matched Liberty Seated Double Dime Set?

I do my best to mix up GFRC offerings towards having something for everyone that stops by at the Daily Blog. Today's gallery is a nicely match set of CAC approved EF45 double dimes. All that is missing is the 1876-CC which is in another league.

Though the 1875-CC date has the highest price guide value due to Carson City type coin status, the 1875 and 1876 Philadelphia strikes continue to be underrated for their low mintages and market scarcities. Already, a FRoR has appeared for the 1875-S and 1876 offerings.

If my day goes as planned, this strictly original lot should post to the price list by end of day.

 

How About a Matched Liberty Seated Double Dime Set?

1875 PCGS EF45 CAC 20C                                                   1875-S PCGS EF45 CAC 20C

    

1875-CC PCGS EF45 CAC 20C                                                   1876 PCGS EF45 CAC OGH 20C

    

 

 

Wrapping Up The Blog

It is nearly 6:30 AM and best to end this Daily Blog edition here. I'd like to secure as much time as possible on the JD2025R during the cooler morning hours.

Yes, I will be in the GFRC office today starting at 1:00 PM. Morning emails will be responded to during the afternoon hours.

Thanks for stopping by the Blog on Father's Day 2021. Be well!