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Gerry's Daily Blog

Featured Coins of the Day

1929-S PCGS MS65 CAC 5C
$525


1857-D PCGS AU50 CAC G$1
Osprey $6300


1889 F-120 NGC MS64 CAC 10C
$475


1877 PCGS MS61 CAC G$20
$4650


1927 NGC MS64 CAC G$20
$2450


1886 F-105 PCGS MS65 CAC 10C
Cleveland $950


 

 

Wednesday November 30, 2022

Osprey Collection Returns with Impressive U.S. Gold

 

 

 

 

Osprey Collection Returns with Impressive U.S. Gold

1849-O PCGS MS64 CAC G$1 - $6750                                           1857 PCGS AU58 CAC G$5 - $1875  

    

  1888-S PCGS MS63 CAC G$5 $5350                                         1895-S PCGS MS62 CAC G$5 - $4150

    

     1908-D NGC MS64 CAC G$5 - $3950                                      1909-D PCGS MS64 CAC G$5 - $3600  

    

 1911 PCGS MS64 CAC G$5 - $4175                                            1914 NGC MS64 CAC G$5 - $4150

    

 

 

 

 

Tuesday November 29, 2022

Winston Zack's Bad Metal - Silver 3cS to 25c Arrives to GFRC Office

Don't Trust USPS Counter Staff for GFRC Express Consignment Shipments

and

More Top of the Ladder and Whitman Baltimore New Purchases

 

 

Greetings on a Tuesday morning and welcome to the Daily Blog. Thank you for visiting.

Much effort and preparations have taken place for today's edition. I hope the the content is well received.

The first round of Black Friday orders were packaged and shipped on Monday with a second installment to be completed today. We are using the Quick Ship courtesy service as much as possible. After Diane left for the satellite USPS office, attention shifted to image processing for today's Blog since Venice weather was cloudy and overcast. Today's forecast calls for bright sunshine which will enable a long photography session.

Mail delivery brought two great pieces of numismatic literature. First is the Fall Gobrecht Journal issue. My favorite article in that edition is entitled The Interesting and Underappreciated 1855 Seated Quarter by Greg Johnson. Greg acknowledges what has been recognized by me for years. 1855 Philadelphia strikes for dimes, quarters, and halves are underrated due to be associated with their omnipresent 1853 and 1853 predecessors. Greg does a great job of highlighting the double die obverse issue for the date along with weak strikes. What plagued the quarters was further amplified for the dimes.

The next significant piece of literature to arrive was a courtesy copy of Winston Zack's second reference book on U.S. contemporary counterfeits. Let's jump into that Blog segment next.

 

Winston Zack's Bad Metal - Silver 3cS to 25c Arrives to GFRC Office

When conducting Liberty Seated dime die variety research, one could not help but run into contemporary counterfeits. I was intrigued with the topic and acquired a fair number of counterfeit dimes on purpose along with being fooled by an excellent 1842-O contemporary counterfeit that was listed in the web-book for a number of years as a unique die pairing. That piece had been certified by NGC and was eventually bought back by the grading service.

My Seated dime contemporary counterfeit research can still be found on this website at this link. During that research period and the early days of GFRC, I sold a fair number of counterfeits to an up and coming numismatist named Winston Zack. Little did I realize that Winston would take contemporary counterfeit research to a level that I could only dream of.

Monday brought the arrival of Winston's second Bad Metal book on this topic. If you've been unaware of the Bad Metal books, I would suggest jumping on the opportunity to purchase his second effort which catalogs the die struck 3 cent silvers through quarter denominations. The cover and the research content are simply fantastic and an outstanding read. Rather than write a full book review, I've posted the Foreword as written at Winston's kind request. Please click on the Foreword image to access a higher resolution and readable version.

Please take my advice and immediately purchase a copy of Winston Zack's book. This edition is limited to 500 copies. Winston can be reached at winston.s.zack@gmail.com.

    

 

Don't Trust USPS Counter Staff for GFRC Express Consignment Shipments

Monday once again brought an ongoing issue with USPS Medium Box Express shipment usage by a new GFRC consignor.

GFRC provides insurance coverage for consignment shipments valued up to $70,000 if two conditions are met. First is the preparation of an invoice for the insured value of the contents. Second is the shipment being made with Signature Required per the Hugh Woods insurance policy terms.

The second requirement continues to be a problematic issue due to the USPS software system configuration and counter staff. When shipping an Express box and marking the Express form with Signature Required, the job is far from done. The USPS system uses a Signature Waived default setting for all Express shipments. The counter staff must manually override the default setting to Signature Required for GFRC insurance to be enabled. When that override is properly executed, the paper receipt will indicated Signature Required.

Our new consignor accurately checked the Signature Required box on the Express form but the counter person did not execute the override to Signature Required. I had specifically told the consignor to check the paper receipt to ensure that the counter person got it right. He did and confronted the counter person who said that it did not matter. Well it does matter....

This leads to two potential conclusions. First is that the USPS counter staff is poorly trained and does not understand the difference between Signature Waived and Signature Required. Second is that the counter staff did understand the difference and was too lazy to reship the package with the correct signature requirement and blew off the consignor. Yes, I've encountered this situation in the Raymond, Maine post office and have forced the counter staff to reship the package properly. No one wishes to confront a USPS staff person as one assumes they are professional and knowledgeable. However, this issue has happened enough times, that a consignor must be ready to confront and demand that the proper signature requirement is entered into the USPS system.

Our new consignor has a $40,000 shipment moving through the USPS system without insurance coverage because of a counter staff issue.

This is a lesson to be learned for anyone who ships high value coins to GFRC under my insurance. Please stand your ground and be demanding until staffing gets in right.

 

Top of the Ladder New Purchases - Lots of Eye Candy

Today brings another installment from the "Top of the Ladder" portion of a long term client's collection that was recently purchased. This client focused on acquiring colorfully toned early silver type piece from 3 cent silvers to Morgans. He was focused on the coins and not holders or CAC approval.

Following are six lots that can be accurately described as eye candy. The 1850 and 1856 half dimes in old white ANACS holders are particularly stunning when viewed under angled lighting. If interested in securing first shot, simply send along an email requesting a price quote. These will be loaded to the price list this afternoon with notice provided once the requested lot is available on the 30 Day Price List.

Top of the Ladder New Purchases - Lots of Eye Candy

Price Email for Price Quote and First Shot

      1881 PCGS MS65 3CN                                                       1836 LM-5 NGC MS61 H10C  

    

  1850 ANACS MS62 H10C OWH                                                   1856 ANACS AU58 H10C OWH

    

1868-S PCGS AU50 H10C                                                           1873-S NGC AU58 H10C

    

 

Whitman Baltimore New Purchases

Here we are at the end of November and I'm still pulling out new purchases from the late October Whitman Baltimore show. The following six CAC approved lots were indeed purchased at the Baltimore show and have been resting quietly in the inventory boxes. Today brings their turn to be featured in the Daily Blog and will be loaded to the price list this afternoon. Let's see how long this lovely 1878 $3 gold piece will last as stocking quality $3 gold is nearly impossible. The balance of the new offerings speak for themselves.

Whitman Baltimore New Purchases

Price Email for Price Quote and First Shot

1878 PCGS AU50 CAC G$3

1889-S F-102 NGC MS63 CAC 10C                                                  1928 NGC MS64+ CAC G$2.5

    

 1853 A&R NGC AU53 CAC 25C                     1901-O PCGS VF25 CAC 25C                      1852-O PCGS VF30 CAC G$1

                

 

Global Financial News

U.S, equity markets had a bad day on Monday with greater than 1.0% drop. The S&P 500 is once again below the 4,000 mark.

Asian markets are rallying on the expectation that the Xi Jinping regime will loosen the draconian Covid lock down rules. Back in the U.S., the Biden regime is facing a major railway crisis come December 9. This fact is weighing on U.S. equities with morning market futures being slightly positive.

In Asia, Japan -0.5%. Hong Kong +5.2%. China +2.3%. India +0.3%.

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

Futures at 6:30, Dow +0.1%. S&P +0.3%. NASDAQ +0.6%.

The China Covid policy, and a potential loosening of lock downs is also helping propel crude oil prices higher. WTI crude is back to nearly $80/bbl while spot gold is quoting at $1770/oz.

Another cryptocurrency lender (BlockFi) has filed for Chapter 11 bankruptcy protection which continues to dampen the recovery of Bitcoin. The morning quote is flat at $16,501.

 

Wrapping Up The Blog

This has been a particularly long Blog edition. I hope that you've enjoyed the visit along with considering the purchase of one of the twelve featured coins.

Today brings yet another heavy shipping day followed by photography and loading lots to the price list. Can I possibly meet my goal of processing images for another 10 coins before tomorrow morning's Blog? Please check back to find out.

This reminds me that I should place the Nikon CoolPix995 battery into the recharger to ensure enough juice for a long photography session come early afternoon.

Thanks again for being regular Daily Blog readers. At GFRC, we take the mystique out of being a coin dealer. It is a business endeavor with a host of challenges.

Be well!

 

 

 

Monday November 28, 2022

A Sleepy Black Friday Sale Ending

and

Ramping Up New Offerings

 

Greetings and welcome to another Daily Blog edition. It is a Monday morning in late November. Thank you for checking in.

The current state of the GFRC business is best described as dynamic and fully subscribed. I'm continually amazed at the pace of consignment proposals along with new purchase opportunities. This week brings four coin shipments with none being meager. We are talking about serious lots of top end coins, with many being CAC approved.

Yesterday's 1887 PCGS MS65+ CAC Liberty nickel drew a substantial amount of attention and orders. One disappointed client revealed that he only reads the Blog in the evenings and regrets that fact after losing out on this amazing gem type piece. Please don't worry as there are many, many more great lots to be posted from the "Top of the Ladder" collection.

Over in mainland China, I am closely watching the Covid-19 protests as they erupt in Shanghai, Beijing, Wuhan, and Chengdu. The Shanghai protests videos brought me back to days in the French quarter of the Puxi (west side) section. Those protests are taking place within a 5-10 minute walk of the Yunzhou Antique Mall where I would hang out on weekends. The Chinese people have had enough of lock downs and the impact to businesses. Smaller shop keepers are struggling due to the unpredictable nature of random lock-downs once someone tests Covid positive.

Back in Venice, Diane and I hung lighted Christmas displays on larger oak tree branches. Last year's display proved to be popular with the older residents, therefore the display was expanded this year.

 

A Sleepy Black Friday Sale Ending

What is it that they say about the month of March for those of us in the northeast? In like a lion and out like a lamb!

Well this year's Black Friday Sale was most consistent that that March saying. Most of the event's sales took place on Friday with a few additional purchases on Saturday. Sunday's action was mostly quiet which allowed time to focus on other pressing activities including incremental photography and image processing.

The Black Friday Sale generated roughly $38,500 in discounted orders with 45 coin being sold. I'm pleased with the results as are a number of consignors who will have some fresh numismatic capital to work with.

Today brings a substantial number of courtesy ship ahead packages or those being purchased with Trading Desk credits.

The next GFRC sales event will be the St. Patrick's Day Sale that coincidence with the Irish holiday that arrived on March 17, 2023. Interestingly, the Spring Whitman Baltimore show is also scheduled for that weekend. Looks like some scheduling finesse will be needed. It may make sense to hold the sale the week after the Baltimore show.

 

Ramping Up New Offerings

How many new offerings can I post to the price list between now and Christmas is the operative question. The Venice office is chock full with fresh inventory that includes low, medium, and high end pieces along with more arrivals. I've set a goal of loading at least ten coins per day to the price list along with posting those pieces in each Daily Blog edition. Ten coins may not appear to be challenging until realizing that those coins must be photographed followed by image processing and description generation. If that was my only office task, then no big deal. However, each day brings customer interfacing, order confirmations, shipping, die variety consulting, detailed coin descriptions via phone etc. In between those service activities, the core work must take place.

OK, let's move on with today's new offerings. Here are four pieces that were purchased last week from a long term Florida client. This is the first of several installments as our dear friend needs to raise monies for life's needs. His current financial necessity is bringing about a collecting goal realignment with the out of favor pieces heading to Venice for purchase.

Keeping CAC approved Capped Bust dimes in stock is an ongoing challenge, therefore I'm pleased to be offering a crusty 1829 JR-3 example which is a better die variety. The 1858-S quarter is a key date in that Seated series and is priced to sell. The 1878-S quarter is an old friend that has been sold several times for between $1300 - $1385. Please visit the Sales Archive to view those sales and the respective time frames.

Last Week's New Purchases

Priced as Marked

1829 JR-3 R3 PCGS EF45 CAC 10C - $450                                     1835 JR-1 NGC EF40 CAC 10C - $350 

    

1858-S PCGS VF20 25C - $975                                                 1878-S PCGS VF35 25C - $1300

    

 

Moving forward, I will be using the term "Top of the Ladder" Collection when offering pieces from that recent 120 piece newly purchased lot. Again, this was the final release of a sophisticated collector's substantial accumulation that focused on colorful and eye appealing type coins.

Today brings four Morgan dollars for consideration. These will post to the price list later today. If interested in a first shot, please send along a pricing inquiry email. Once these are posted, I will revert with a reminder to check the 30 Price List for offer prices and descriptions.

"Top of the Ladder" Collection Offerings

Please Email for First Shot

          1879-S PCGS MS63 $1                                                       1880/9-S VAM 11 PCGS MS65 $1

    

1880-S PCGS MS65 $1                                                            1882-S PCGS MS65+ $1

    

 

Global Financial News

Today's top Seeking Alpha headline captures the Covid protests that are erupting in major Chinese cities. As much as I would like to cheer for Chinese citizens, especially old friends in Shanghai, the reality is that Xi Jinping operates a tight police state along with full control of the Chinese Communist Party. Here is the Seeking Alpha article in its entirety.

It's still too early to tell where things will go as protests against COVID restrictions spread across China. Things escalated over the weekend after a deadly fire killed 10 people in Xinjiang's capital of Urumqi, with outrage over the incident going viral on social media. People blamed COVID controls for the incident, with reports suggesting that the severe measures obstructed escape and rescue efforts. Authorities denied the allegations, but the demonstrations had already spread across Beijing, Wuhan and Shanghai, where blank sheets of white paper were raised as a symbol of defiance. Market movement: The Hang Seng Index opened down more than 4% in a knee-jerk reaction before paring losses to trade 1.5% lower, while the Shanghai Composite settled down 0.8%. The bigger move was seen in oil markets, with crude futures  sliding 3.6% to $73.60 per barrel. As case numbers continue to hit record highs - with over 40,000 new infections recorded on Monday - China's central bank cut its reserve requirement ratio by 25 basis points, freeing up around $70B in liquidity to support the economy. Widespread demonstrations are a rarity in mainland China, but protests have escalated amid three years of COVID restrictions that have battered travel, incomes and morale. Last week, unrest spread at the world's biggest iPhone plant in Zhengzhou, with workers upset about bonuses and conditions in the locked-down factory. Residents in the southern manufacturing hub of Guangzhou also protested restrictions by breaking through metal barriers and demanding an end to lock downs. To be clear, China has dealt with much larger demonstrations in recent years, like the pro-democracy protests in Hong Kong that brought millions of people on to the streets in 2019. Go deeper: People's Daily, the official mouthpiece of the Chinese Communist Party, ran a front page op-ed on Monday that indicated the current thinking on COVID policy. It called for controls that are more targeted - like the recently announced "20 measures" - as well as "improving the effectiveness of anti-epidemic work." The zero-COVID stance has already had serious implications for the economy, with China's GDP expanding only 3% at the end of the third quarter, well below the official target of around 5.5% announced in March.

Morning market futures are down across the planet.

In Asia, Japan -0.4%. Hong Kong -1.6%. China -0.8%. India +0.3%.
In Europe, at midday, London -0.8%. Paris -0.7%. Frankfurt -0.4%.
Futures at 6:30, Dow -0.6%. S&P -0.8%. NASDAQ -1%.

Bright spots are paper gold returning to the $1762/oz mark along with the 10 Year U.S. Treasury yield dropping to 3.66%. Bitcoin is languishing at $16,191.

 

Wrapping Up The Blog

The 8:00 AM publishing time has arrived and best to run the Dreamweaver spell checker followed by hitting the upload button.

Thanks again for making the Daily Blog part of your regular online reading. For those wishing to have first shot on new listings throughout December, I would recommend visiting the Blog at 8:00 AM ET. On some occasions, the new offering galleries will be posted during the late afternoons.

Be well!

 

 

 

Sunday November 27, 2022

Black Friday Sale Closes at 9:00 PM - Last Call

Hackers Attacked the GFRC Website Saturday Afternoon - Good Guys Won!

Slowing Down the GFRC-Lite Start-up Consignments

and

Small Denomination Eye Candy to Consider

 

 

Greetings on a quiet Sunday morning and welcome to the Daily Blog. Thank you as always for being constant readers.

The days are flying by here in Venice. The situation feels like being on a high speed treadmill given the events of the past several weeks. Once the Black Friday Sale wraps up this evening, followed by several days of heavy shipping, life should slow down a tad. That reprieve will be in effect until Diane travels to Austin for a visit lasting through the end of December.

Yes, I do miss Johnny2 as an important distraction from the coin business. There is something to be said for moving and shaping dirt along with stone walls.

 

Black Friday Sale Closes at 9:00 PM - Last Call

As predicted, Saturday brought a much slower pace with respect to Black Friday Sale orders. New orders probably totaled in the $3000 - $4000 range.

There are still over 200 discounted lots on the Black Friday price list that are immediately available for purchase. The rest is up to the community to decide if the discounts are sufficient enough for a purchase. Come this evening at 9:00 PM, the Black Friday Sale price list turns into a pumpkin and is no more until the St. Patrick's Day Sale in March 2023. Prices return to the pre-sale levels.

 

Hackers Attacked the GFRC Website Saturday Afternoon - Good Guys Won!

Yesterday afternoon brought a phone call from Matt Yamatin as the family was traveling via train from northern Virginia to Boston. Matt's phone was pinging non-stop with incoming messages from a hacking attack on the GFRC website. This was yet more excitement as I tried to keep up with Black Friday orders and numismatic consulting requests.

The hacker attack (computer bots) was quickly thwarted by the GFRC IT staff. After some quick thinking, we disabled the new customer account registration function and deleted the hacker's login credentials immediately after the initial website attack was launch.

Luckily, the GFRC website design does not use a sophisticated checkout function that stores customer information including addresses and credit card information. This fact was incorporated into the initial website by design as a proactive step in the event of hacking. The GFRC platform lacks an automated checkout function as compared to larger dealers but also minimizes risk. Once a new client creates an account on the GFRC platform, that account must be manually linked by Matt within the COIN system. That manual step, thought tedious, prevents a hacker from gaining access to the core database. Call this a hard firewall or barrier. Though the scoundrels attempted to hack our site 60+ time in a few minutes, all efforts were futile without access to key operating files.

For additional peace of mind, I deleted the account registration code on the Hostway server and disabled this function for the time being. In the next 48 hours, that function will be reinstalled and monitored for an suspicious activity.

Now you know the whole story....

 

Slowing Down the GFRC-Lite Start-up Consignments

Yesterday also brought several conversations with Rich Hundertmark concerning the GFRC-Lite business start-up. The website design and development process is forecasted to be completed during the second half of January 2023.

There have been a host of inquiries about consigning coins into the GFRC-Lite start-up. Several consignments have already been sent to the GFRC office in anticipation of the new online platform.

Given that the GFRC-Lite website is still two full months away, let's delay lower priced consignment shipments until the website has been demonstrated to be fully operational. I will make every effort to process the lower priced consignments, that currently reside in the GFRC office, and load these on the 30 Day Price List.

 

Small Denomination Eye Candy to Consider

Today brings a five piece gallery of small denomination new offerings. Let's explore the background behind these lots.

The top two marquee coins are from the recent 120 piece new purchase. This purchase was the final installment of multiple purchases of a substantial client's collection. The purchase brought "top of the ladder" coins into GFRC inventory. Our client was a fan of beautifully toned early type and believe me, the forthcoming offerings will bring a steady flow of eye candy into Daily Blog galleries. As you would expect from GFRC, I paid strong and fair for the final piece of the collection, therefore the offer prices will carry eye appeal premiums. The 1860 3 Cent Silver and the 1887 Liberty nickel are previews of what is to come during December.

The bottom three coins are from an existing GFRC consignor. These were targeted for GFRC-Lite, but considering the website situation, I was up early this morning to get these coins processed and posted to the price list today. More of this type of "Lite" inventory will be forthcoming.

Look for the following pieces to post to the price list this afternoon. As usual, one can secure first shot by sending a price request email.

 

Small Denomination Eye Candy to Consider

1860 NGC AU58 CAC 3CS Fatty                                                   1887 PCGS MS65+ CAC 5C

    

 1804 Spiked Chin PCGS VF35 1C                        1853 PCGS MS62 3CS                                 1856 PCGS AU50 3CS           

                

 

Wrapping Up The Blog

Today brings another full day in the GFRC office other than a regular health walk with Diane.

The day's first priority is responding to overnight orders followed by updating the Black Friday Sale price list. Afterwards, attention shifts to image processing for another group of lower priced coins to clear those out of the consignment backlog.

Now that the GFRC consignment window re-opens on December 1, several major consignments have been committed and will ship during the next two weeks. The Mt. View Collection is sending along a 22 piece Seated quarter lot with lower grade key dates and die varieties. About 60% are CAC approved with many purchased from GFRC in the past. My buddy in Oregon just notified me last evening of the intent to consign a 13 piece Liberty Seated half dollar lot with grades ranging from AU50 through MS65 with roughly 50% CAC approved. Yes, this is the Oregon Beaver Collection returning with another divestment.

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

 

 

 

Saturday November 26, 2022

Buyers Chasing Bargains at the Black Friday Sale

More Seated Dime Web-Book Plate Coins to Consider

and

Newtown Liberty Seated Dime Collection - Part 2 Sale - January 21, 2023

 

Greetings and welcome to the Daily Blog on the final weekend in November. Yes, the Black Friday Sale event is underway and wraps up on Sunday evening. A sincere thank you goes out to clients who have already done their discounted shopping. If not, there are still 220 lots available for consideration.

Friday brought a long and busy office day with little to share other than today's forthcoming Blog topics. Let's turn to Seth Godin for an inspirational blogpost that captured my attention. I'm a firm believer that following the long road and exhibiting positive behaviors will lead to success in life. Seriously, no man is an island.

Seth Godin Blogpost: A paradox of status and power

One can refuse to pay bills, bully employees, steal credit, work the refs and look for shortcuts…

or pay bills ahead of time, elevate employees, amplify the credit of others and take the long road.

While both are modern signifiers of a certain kind of success, only one is a resilient way forward.

Ancient emperors that aspired to power often had their enemies beheaded.

The ones with real power gave them clemency.

 

Buyers Chasing Bargains at the Black Friday Sale

I'm pleased to report that the 2022 Black Friday Sale has already been a rip-roaring success with two more days to go.

The current sale reminds me of attending the pre-show event at a major coin show. The dealers that appear early and secure first shot typically secure the best values. Friday's sale action was similar with the early bird clients acquiring the best values among the 260 or so offerings. There was some heavily discounted Seated half dollar die varieties that promptly sold along with several CAC approved gold lots.

As of this morning, the Black Friday event has seen 34 coins selling for a total discounted value of $33,000. The original offer price for these 34 lots was $43,470, leading to a substantial discount for the astute buyers.

If history repeats itself, Saturdays are typically quiet during the Black Friday Sale weekend. Come Sunday, the buying action resumes with a final run of purchases prior to the 9:00 PM sale closing time.

I'm certain that there will be a number of pleased consignors at the end of this 2022 sale.

Black Friday lot shipments begin today and will continue on Monday and Tuesday for clients who make immediate payments via PayPal or are on the Quick Ship program.

 

More Seated Dime Web-Book Plate Coins to Consider

Today brings another Liberty Seated dime installment from my reference collection. Most are plate coins employed within The Definitive Resource for Liberty Seated Dime Variety Collectors online reference. This "guide book" that can be easily accessed on the above gray links bar. Just go to the far left and click on GFRC. The overall web-book plate coin illustrations are starting to improve as the 2004 vintage images are replaced with much improved versions.

Featured next are another eight Seated dimes that have been "in the reference family" for decades. All must find new homes towards raising more numismatic capital for core set upgrading activities along with the goal of eliminating the need for multiple bank boxes. All lots are certified and will be found in old PCGS and NGC holders, other than one in a vintage PCI holder.

The 1884-S and 1887-S dimes are sure to attract attention once posted to the price list later today. The 1887-S F-108 was one of the many Fortin dimes to secure a gold CAC bean during the 2014 visit with John Albanese in Bedminster NJ. I've finally decided to let this one go to a new home that will provide more numismatic love than I can. Also note the 1862 F-108 dime in a vintage brown label PCI holder. When one buys the coin and not the holder, there is occasional value to be located within these old off-brand holders. Finally, the 1875-S Below Wreath F-102 Micro S resides in an "1875" certified PCGS holder with an odd MS60 grade. This is a well preserved example with a very weak mintmark.

 

Liberty Seated Dime Web-Book - More Plate Coins

Arriving to Price List This Weekend

         1884-S F-104 PCGS MS63 10C OGH                               1887-S F-108 PCGS MS62 Gold CAC 10C OGH

    

        1862 F-108 PCI MS63 10C                          1872 F-103a NGC MS63 10C                     1873 NA O3 F-103 NGC AU55 10C

                

1875-S BW F-102 PCGS MS60 10C               1876-S T1 F-108 NGC MS62 10C                      1882 F-109 NGC AU58 10C      

                

 

Newtown Liberty Seated Dime Collection - Part 2 Sale - January 21, 2023

Time moves along so quickly! In a little over a month, the 2023 Winter FUN show will take place in Orlando. GFRC will be there with a three 8' table inventory display including the second installment of the Newtown Liberty Seated Dime Collection sale. Those lots will be on display along with GFRC Online Auctions sale catalogs.

The Part 2 sale lots are currently published with description and available for review at the Auction link. During the upcoming weeks, the reserve prices will be added to the online catalog.

There are a host of exciting lots to consider in the Newtown Part 2 sale. Following are some of my favorite lots in the Part 2 sale.

 

Newtown Liberty Seated Dime Collection - Part 2 Sale Highlights

1857-O F-107a NGC MS67 CAC                                                    1863-S F-101 PCGS MS64

    

   1864-S F-101 PCGS MS64 CAC                                                    1865-S F-103 PCGS MS63 CAC

    

   1866 F-102b PCGS MS66 CAC                                                 1867 F-102 PCGS MS66 CAC

    

   1872-CC F-101 PCGS VF35 CAC                                                 1873-S F-101 PCGS MS64 CAC

    

 

Wrapping Up The Blog

Once again, I will be in the GFRC office for most of the day. There is morning shipping followed by staying current with Black Friday Sale orders.

The afternoon brings the loading of today's Seated dime web-book lots to the price list followed by processing some new purchases images for yet another gallery display in Sunday's Blog. GFRC is on a mission to exit the 2022 fiscal year with strong sales and inventory turn-over.

A reminder that the GFRC consignment window re-opens on December 1. Already a long term client has made an interesting consignment proposal that I would be more than pleased to accept.

Whether wishing to consign or sell coins outright, please consider giving GFRC first shot. We continue to be one of the fastest growing dealers in the country given our attention to premium service and fair dealings.

Thank you again for stopping by at the Daily Blog on a Thanksgiving weekend. Be well!

 

 

 

Friday November 25, 2022

Black Friday Sale is Well Subscribed!

GFRC Achieves $12,000,000 Consignor Proceeds Milestone

and

GFRC Consignment Window Opens on December 1

 

Greetings on a quiet Friday morning and welcome to a Black Friday sale edition.

So, how was everyone's Thanksgiving celebration? As usual, the Fortin could not disclose their whereabouts on Thursday within Daily Blog ramblings. We spent our Thanksgiving lunch with Maurice and Diane Theriault in Sarasota. Maurice is Diane's (Fortin) oldest brother who happens to own a villa in the Sarasota area. They happened to be in town and invited us over for a Thanksgiving meal. The food was outstanding as was the company.

My Thursday started early when working outdoors and trimming an overgrown bush by the backyard pond along with pulling out a substantial root ball/shoots that had been floating in the pond before settling on the bank adjacent to that large bush. That root ball could take hold and become yet another visual barrier for the 5:00 PM wine time relaxation in the lanai. It took several hours to accomplish the task with primitive tools and a blue tarp to haul the cuttings into a pick-up location for the grounds management workers. How I miss Johnny2 when in Venice.

The Venice condo pond is well stocked with alligators which is always on my mind when working right on the pond's edge. Fortunately, no alligators were in view during the work. However, when returning to the condo from the Sarasota Thanksgiving lunch, there was an large alligator trolling the waters directly behind that cleared area. As they say, timing is everything, right?

The balance of Thursday brought the loading of more consignments to the 30 Day Price List along with increasing the Black Friday sale offerings by adding lots from GFRC inventory. When midnight arrived, there were 261 lots available for consideration. This leads into the next topic....

 

Black Friday Sale is Well Subscribed!

The GFRC Black Friday Sale opened promptly at midnight with an initial flurry of purchases during the first 30 minutes. By 1:30 AM, the shopping came to a stop and then restarted at 6:00 AM. Roughly 15-20 coins have already been sold with invoice generation being the top priority once the Daily Blog is uploaded.

I'm looking forward to a robust sale as there are ample amounts of new consignments waiting to be loaded onto the price list. The Black Friday Sale is an opportunity to move out aging offerings in lieu of fresh material.

 

GFRC Achieves $12,000,000 Consignor Proceeds Milestone

I'm pleased to report that this humble GFRC business has achieved yet another significant consignor proceeds milestone. As of Thanksgiving Day, GFRC has generated over $12,000,000 in consignor proceeds. If dividing that number by 0.905 (the average GFRC consignment commission is about 9.5%), GFRC's retail consignment sales has grown to over $13,000,000 since inception.

Clearly, the GFRC Online Auctions platform has increased the rate at which these $1,000,000 consignment milestones are being achieved. The forthcoming Newtown Liberty Seated Collection Part 2 Sale, to be held in January 2023, will certainly provide a hefty start towards the $13,000,000 threshold.

For those that are new to the GFRC business, the Consign link, which explains the details for the consignment program, also features real time reporting for the GFRC consignment business segment. Below is a screen capture of that page.

 

GFRC Consignment Window Opens on December 1

Now that the Florida transition has been completed, GFRC clients should have noticed that coins are being posted to the 30 Day Price List at an accelerated rate. Since not being distracted by the homestead back acreage projects, my time is becoming solely focused on processing the consignment backlog. Already the 30 Day Price List offerings have increased to 87 pieces and will continue to rise going into the weekend.

Therefore, I am confident that re-opening the consignment window, come December 1, is a sustainable step.

Please don't be bashful about contacting me with your consignment proposals as I hope to attend the 2023 Winter FUN show with a huge amount of fresh inventory. Emails are the best approach for submitting a consignment request. Let's remember that your consignments can ship with GFRC insurance coverage. GFRC is insured up to $7,000 for a USPS Priority shipment and up to $70,000 for USPS Express. Please inquire for details.

The GFRC Online Auctions platform also seeks a larger collection consignment for the February-March 2023 time frame.

The beauty of the GFRC auction platform is its integrated nature with the online retails sales. There is only one commission rate regardless of whether your coins sell at auction or via the regular price lists. Clients have an opportunity to enjoy the competitive pricing upside that an auction event can bring while still enjoying the comfort of retail level reserves. Lots that do not sell at auction are immediately rolled over onto the fixed price list and further marketed on Collectors Corner.

If you've been considering a change in collecting goals and wish to liquidate an existing collection for fresh numismatic capital, I believe that GFRC offers one of the most professional options (in the numismatic market) at a most attractive commission rate. My secret to the competitive commissions is diligent cost management and working hard to earn your trust.

 

Wrapping Up The Daily Blog

So ends another Daily Blog edition. Today brings a long day in the GFRC office responding to and invoicing Black Friday Sale orders.

Thanks again for being loyal readers. Be well!

 

 

Thursday November 24, 2022

Happy Thanksgiving 2022!

A Wisconsin Deer Stand Sunrise

Occasional Venice Sunshine Enables a New Consignment Gallery

and

GFRC Black Friday Sale Opens at Midnight!

 

Greetings on Thanksgiving Day 2022 and welcome to the Daily Blog. I'm pleased that you could find the time to check in on these holiday ramblings.

Yes, another holiday season is upon us with Thanksgiving Day celebrations bringing about reunited families. Before long Christmas will arrive. I'm not much of a turkey fan but Diane makes the most awesome stuffing from an old Franco-American recipe.

The Fortins will be enjoying a quiet Thanksgiving at the Venice condo after a tumultuous November month. The Yamatin family is heading to Virginia for a family reunion with Chikae's relatives. Over in Austin, Renee, Mike and Ivy are staying put as the next grandchild is due in December. Everyone is healthy and well, the most important aspect of the Fortin clan.

I would like to once again take this opportunity to express our sincere thanks to everyone who sent condolences and expressed their empathy for the loss of Buddy the Dog. There was one very special gesture whereby an anonymous community member sent along beautiful roses for Diane. Diane has recovered from the loss and is keeping busy with securing new decorations for the Venice condo when not engaged with the GFRC business. As mentioned to many, life goes on after the loss but the fond Buddy memories will be with us for years.

 

A Wisconsin Deer Stand Sunrise

November brings deer hunting season in much of the northern United States. A GFRC client snapped the following sunrise image from a Wisconsin deer stand on Wednesday morning. The reported temperature was all of 11F with a lovely snow blanket on the ground.

For those readers who have not spent time in the woods, it may be difficult to imagine the serenity of being out in a snow covered forest during the early morning hours. One could say that the stillness in the air is acute as life has gravitated towards noisy electronic gadgets. This image speaks volumes, on a personal basis, as the back acreage trails and spring pond have become a special avenue for escaping a busy lifestyle. Sitting by the pond, or in a hunting tree stand, brings a unique tranquility that is difficult to describe in words. One has to be there to experience being alone with nature and enjoying the simplicity of the moment.

 

Occasional Venice Sunshine Enables a New Consignment Gallery

Wednesday afternoon brought that anticipated break in the Venice cloud cover for a GFRC photography session. The sunshine was fleeting but long enough for a small consignment group to be photographed. The later afternoon hours brought some quick image processing and the posting of the following gallery.

The three Capped Bust half dimes are freshly graded and arrived from an older client. The balance are from a new consignor who's father is one of the earlier members of the Liberty Seated Collectors Club. It is good to see the passion for numismatics migrating to a new collector generation.

There are sweet pieces in this display including a rare 1886 business strike quarter and gorgeous 1890 quarter. All lots have approved offer prices and will be posting to the price list later today. Already, the 1831 LM-1.1 is spoken for.

New GFRC Consignment Arrivals to Consider!

   1835 LM-4 R3 NGC MS62 H10C                                                   1886 Briggs 1-A NGC AU50 25C

    

1890 PCGS AU58 25C                                                               1908-S NGC AU53 G$10

    

  1830 LM-7 NGC MS62 H10C                       1831 LM-1.1 NGC MS62 H10C                           1871 NGC MS64 H10C       

                

 

GFRC Black Friday Sale Opens at Midnight!

What would a numismatic Thanksgiving be without the traditional GFRC Black Friday sale? The preparations have been finalized with about 220 coins being offered at discounted prices. Discounts are wide ranging from the expected 8% to as high as 45%.

The sale will open at midnight and be in effect until Sunday at 9:00 PM. For the final time, following are the instructions for shopping in this year's Black Friday sale.

 

Black Friday Weekend Sale Instructions

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

Accessing the Black Friday Weekend Sale List

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

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

Conducting Black Friday Sale Purchases

- Black Friday Sales purchases can be accomplished in two ways. The first is to use the traditional shopping cart icon that triggers a purchase email to GFRC. The second is to collect a list of desired lots and send those selections along via email. The arrival time stamp for purchase emails will be employed for determining who was first on each coin. It may be advantageous to use the shopping cart icon and triggered email to announce your purchase as quickly as possible.

- Come Friday morning, all purchase emails will be reviewed in the order received followed by the issuance of invoices. Please have patience with me with respect to the confirmation emails as my first Friday priority is composing another Blog edition. Once the Daily Blog is posted, my attention shifts to purchase emails on a First In, First Out (FIFO) basis. By 8:30 AM, I should start responding to the earliest purchase orders. By early afternoon, I should be caught up with the overnight purchases and responding without a time lag as incremental purchase emails appear. Friday morning's response time will be a function of the number of orders. A busy sale will translate into slower response time.

- Once confirmation emails are issued, your purchases will be removed from the inventory double row slab boxes and placed into shipping boxes. Clients who are on the Ship Ahead program will see their orders shipped on Saturday and Monday morning. Those customers who are less familiar to me, will need to make payment first prior to lot shipments.

- There will be no GFRC shipping on Friday November 25 due to the Black Friday Sale response workload.

Good luck to everyone who decides to participate in the Black Friday sale!

 

Wrapping Up The Blog

Once again, a happy Thanksgivings Day wish to all in the GFRC community. Today brings time with reunited families that should be cherished given our fast paced modern life. Each of us grows older as the annual Thanksgivings celebrations come and go. Children soon become teenagers and then young adults. Unfortunately, parents grow older too.

Thanksgiving should also bring a time for reflection on the many blessings that we enjoy as Americans. We reside in the land of plenty based on the sacrifices and hard work of our ancestors. What will be our legacies for the generations to come?

Be well my friends!

 

 

Wednesday November 23, 2022

An Evolving Black Friday Sale

and

Liberty Seated Dime Web-Book Plate Coins Coming to Price List

 

Greetings on a pre-Thanksgiving early morning and welcome to the Daily Blog. Thank-you for stopping by.

Tuesday turned out to be a rather productive office day with multiple tasks being completed. The first shipments from the Venice office were issued and transported to the remote USPS postal office managed by a lovely Indian husband and wife team. That office is less than a five minutes from the Auburn Lakes HOA and much more convenient than the long drive from the Maine homestead to the Raymond post office.

After the shipping department closed, attention shifted to the Black Friday Sale and loading a host of discounting instructions into the COIN system. Once the loading was completed, the website was updated followed by debugging the Black Friday price lists. The COIN system has special admin functions that allow me to debug the price lists off line before being officially available come Thanksgiving Day midnight.

If you wished to participate in the Black Friday and have not received a confirmation email, then your discounting instructions HAVE NOT been processed. Please contact me today if that is the case for resolution.

With the Black Friday sale ready to go, there was still time remaining to process images taken back in Maine. A 20 piece Liberty Seated dime lot, that was mostly web-book plate coins, had been in the consignment queue for several months. As usual, I will process consignor coins ahead of my own. However, with Venice weather being overcast on Monday and Tuesday, the Seated Dime plate coin images brought an opportunity to maintain Daily Blog galleries and to enable incremental listings for the 30 Day Price List. Let's hope that Venice sunshine arrives today as there are several double row boxes containing consignments and new purchases that need to be photographed. Many of these backlogged consignments arrived at the Whitman Baltimore show.

 

An Evolving Black Friday Sale

2022 has seen an evolution in the GFRC business model towards higher priced coins. This evolution became apparent when announcing the GFRC-Lite franchise during the September time frame and the debut at the Whitman Baltimore show. Coins priced under $300, Details graded coins, and raw coins were assigned a lower processing priority during 2022 and will become the mainstay of the GFRC-Lite business operated by Rich Hundertmark.

The arrival of the Thanksgiving Black Friday Sale brings an opportunity to quantify the GFRC inventory evolution after loading discounting instructions. By carefully sorting the COIN database, I will able to capture the forthcoming sale statistics and the average percentage discount that shoppers will find during the early hours of Friday morning. Here are those statistics.

- Number of lots in the Black Friday Sale - 229

- Total Retail Listing Prices for Black Friday Lots - $406,800

- Total Discounted Value for the Sale Lots - $52,000

- Average Discounted Offer Price - $1550

- Average Discount to Regular Retail - $12.8%

During past GFRC sale events, the typical number of discounted lots would be in the 500-600 range but included a host of coins priced at the $50 to $250 level. The presence of these discounted low value coins would bring out value shoppers who only appeared during sales events. My apology goes out to those individuals as the GFRC business model is not sustainable as vertical growth brought a stronger mix of four and five figure coins. As each year goes by, my time becomes increasingly precious given the personal goal of sustaining a lifestyle balance between work, healthy aging, and spending time outdoors. Sitting in front of a laptop for 12 hours per day is not healthy aging. Fingers and other joints can easily become arthritic without regular exercise.

Therefore, the number of lots in the upcoming Black Friday sale has decreased while the average discounted offer price has increased due to a larger mix of higher value coins being included in the sale. Actually, other dealers should be paying close attention to the sale as the discounted prices offer a true "wholesale" buying opportunity. The GFRC collector community will be the beneficiary as there are many great coins with substantial discounts. One example is that about 15% of the discounted lots are U.S. gold, some with CAC approval. Past GFRC sales events were anemic with respect to gold coin inventory but not this Black Friday sale.

Of course, clients living in western time zones will have a more convenient shopping opportunity than those in the eastern time zone given that the sale launches at midnight ET.

 

Liberty Seated Dime Web-Book Plate Coins Coming to Price List

Since purchasing eleven Liberty Seated dimes from the Newtown Collection as upgrades, funding those purchases necessitates the sale of remaining web-book plate coins. For years, I have been slowly working down the die variety research collection and upgrading the web-book with better images prior to their sale.

Today brings a 10 piece installment of web-book plate coins. Several have been to CAC while the majority have not seen a trip to Far Hills, NJ. These new offerings present consistent quality and will be priced towards raising incremental numismatic capital in the near term. At this point, there is no need to hold on to so many Liberty Seated dimes. Rather, these must return to the market place. Most are in old PCGS and NGC holders as a testament to their purchase during the late 1990s and early to mid-2000 time frame.

Liberty Seated Dime Web-Book Plate Coins to Consider!

Please Email for First Shot, Loading to Price List Later Today

1840 No Drapery F-106 PCGS MS63 10C                                            1849-O F-102 PCGS AU58 10C     

    

     1860 F-101a PCGS MS64 10C                                                        1871 F-102 NFC PF62 10C     

    

 1838 F-111 PCGS AU53 10C                  1840-O F-109 PCGS VF35 CAC 10C                 1845 F-108a PCGS AU53 10C

                

1853 Arr F-106 PCGS AU58 10C                  1861 T2 F-107 PCGS MS62 10C                      1868 F-101 NGC MS62 10C  

                

 

Global Financial News

Looking at financial news, the U.S. technology industry continues to suffer margin and growth pressures as the U.S. sinks into a minimal growth and/or recessionary period. HP is the latest tech giant to announce a 10% work force reduction moving into 2025. This is on the heels of Amazon and Meta (Facebook) also making similar announcements. Of course, there is Twitter which is undergoing a major staffing overhaul by Elon Musk. Elon has raised worker productivity expectations and is cutting perks. This has resulted in a substantial number of resignations.

The other canary in the coal mine for the U.S. economy is a potential railroad worker strike that has been brewing for several months. Equities are currently priced as if the rail strike will be avoided. If it is not, watch out....

Tuesday trading brought the S&P 500 back to the 4,005 level. Morning market futures are flat going into a traditional holiday period.

In Asia, Japan closed. Hong Kong +0.57%. China -0.27%. India +0.15%.
In Europe, at midday, London +0.57%. Paris +0.01%. Frankfurt +0.11%.
Futures at 6:30, Dow +0.09%. S&P +0.12%. Nasdaq +0.02%.

After attempting to approach the $1800 level, spot gold has pulled back and is down to $1737/oz. WTI crude is flat at $80.25/bbl while Bitcoin is still finding buyers and has improved to $16,561. The 10 Year U.S. Treasury bond yield is essentially unchanged at 3.75%.

 

Wrapping Up The Blog

Unfortunately, Venice weather is forecasted to remain cloudy during the next 48 hours. I will be watching the cloud cover this afternoon and hopefully will be able to realize a break in the clouds for photographing several smaller consignments.

If the weather does not cooperate, my attention shifts to the Steven Vitale Liberty Seated Dime Collection lot since those coins were photographed while in Maine. This collection totals 147 dimes, a substantial amount of image processing effort that needs to get done in the near term.

During the overnight, a new client has offered a small but high valued consignment that I readily accepted. Contained in that consigment are a 1916 Standing Liberty quarter certified PCGS EF45 CAC and a 1918/7-S Standing quarter graded PCGS VG08 CAC along with several CAC approved better date Barber quarters. These will ship next week to the Venice office.

So ends another numismatic day's ramblings. Your ongoing patronage is certaintly appreciated and provides the motivation to spend several hours each morning composing the Daily Blog. Be well!

 

 

 

Tuesday November 22, 2022

Oregon Beaver Returns - $2.5 Gold to Consider

and

Queuing Up the Black Friday Sale Instructions

 

Greetings once again from Venice, Florida and welcome to another round of morning ramblings.

it certainly did not take long to settle into a typical Florida life style. Standard attire is now shorts and a long sleeved t-shirt. The gas grill was promptly moved out of storage and employed for last evening's scallops and salad dinner. Today brings the first long health walk as temperatures will rise into the high 70s. Once cloudy conditions are replaced by bright sunshine, GFRC photography will be underway.

Speaking of last evening's grilled dinner, here is a cellphone image taken while cooking. The transitional from the cold and barren Maine back deck view to a colorful Florida sunset is readily apparent here. Is this view worth the two day journey and moving the entire GFRC business? You bet it is!

 

I'm also relieved to report that our Venice USPS carrier delivered mail on Monday afternoon. Included in the first delivery were several order payments. Another USPS mailing address transition has been successfully executed with regular shipping beginning today.

Unquestionably, the simplicity of a condo life translate into more time for GFRC consignment and new purchases processing. Gone are the many Maine chores and back acreage time on Johnny2. These have been replaced by extra hours dedicated to the coin business and moving customer consignments along to new homes.

The GFRC consignment window will remain closed for another few weeks to allow processing of a robust backlog. Included in that backlog is a 147 piece Liberty Seated dime collection from Steven Vitale. This is the second of two complete Seated dime collections to be handled during 2022. Of course, the first is the Newtown Collection with the second auction session arriving on January 21, 2023.

Current consignment and new purchases backlog has a wide range of denominations and designs. It is expected that the 120 piece new purchases lot will stimulate considerable demand as these pieces were the "top of the ladder" of the seller's collection. This individual focused on colorful toning and above average eye appeal for his type coins.

 

Oregon Beaver Returns - $2.5 Gold to Consider

Kicking off the first of many Florida based consignment galleries is a quality $2.5 Liberty gold lot from the Oregon Beaver Collection. This new offering opens with an 1844 Dahlonega example along with a low mintage 1974 specimen with partially mirrored fields. CAC approved 1873 Open 3 and 1893 lots provides traditional eye appeal.

Please be aware that I spent considerable time ensuring that the color matching between the images and the coin's in-hand appearance. Photographing gold can be tricky as the Nikon camera loves to enhance the red tones at the expense of green shades. I'm carefully updating the color mask to ensure that the natural greens, yellows, and gold shades are properly illustrated.

A pricing recommendation was prepared last evening and submitted to Oregon Beaver for approval. Once receiving offer price confirmation, these pieces will be posted to the 30 Day Price List. In the meantime, please send along an email for first shot.

Oregon Beaver Returns - Quality $2.5 Liberty Gold

Please Email for First Shot Once Pricing is Approved

1844-D NGC AU55 G$2.5                                                           1874 PCGS MS62 G$2.5

    

1873 Open 3 PCGS MS64 CAC G$2.5                  1893 NGC MS63 CAC G$2.5                          1903 PCGS MS66 G$2.5            

                

 

Queuing Up the Black Friday Sale Instructions

Monday brought a host of emails with final Black Friday discounting instructions. Overall, I believe the sale will have a substantial number of discounted lots for those that enjoy purchasing coins at "wholesale" levels.

Today's primary task is ensuring that all Black Friday discounting is captured in the COIN system followed by debugging the special sale price lists.

Once each consignor's instructions have been loaded, a confirmation email will be issued. If having supplied discounting instructions and not receiving a confirmation email, by end of day today, don't be bashful about checking in with me on Wednesday morning. I've noted that several individuals sent their instructions without the Black Friday Sale email subject line. I will do my best to check all emails received in the past five days to ensure that every discounted lots is captured in the sale. However, there is always the chance that someone's instructions might be missed.

 

Global Financial News

The carnage in the cryptocurrency space continues as word is on the street is that another cryptocurrency brokerage house (Genesis) will file for bankruptcy. The company is feverishly attempting to raise capital to avoid this outcome but the news has taken down Bitcoin to new 52 week lows. The morning quote stands at $15,700.

Morning market futures indicate a slight amount of buying at the market's 9:30 AM opening. The day opens with the S&P 500 at 3,950 after suffering a slight loss on Monday.

In Asia, Japan +0.61%. Hong Kong -1.31%. China -1.18%. India +0.49%.

In Europe, at midday, London +0.90%. Paris +0.50%. Frankfurt +0.45%.

Futures at 6:30, Dow +0.19%. S&P +0.21%. NASDAQ +0.18%.

WTI crude is essentially flat this morning at $80.27/bbl along with spot gold at $1749/oz. Ditto for the 10 Year U.S. Treasury bond yield at 3.79%

 

Wrapping Up The Blog

Last evening brought another for purchase deal that was promptly accepted. This four piece deal includes two CAC approved Capped Bust dimes along with 1858-S and 1878-S Seated quarters. A mailing label was issued to the client with an expectation that the coins will be delivered on Friday. One can never have enough early type coins in inventory....

Otherwise, it is time to close down today's Blog edition as there is little else to share.

Thank you for checking in and reviewing my daily updates. Be well!

 

 

 

Monday November 21, 2022

Missing Buddy the Dog

Live From Florida - The GFRC Office is Open!

Final Day to Submit Black Friday Discounting

and

Black Friday Sale Arrives Thursday Midnight

 

Greetings from Venice, Florida and welcome the Daily Blog. So much has taken place in the past four days.

Once again, Diane and I wish to express our sincere thanks for the countless number of emails and text messages expressing condolences on the passing of Buddy. Those messages continued to arrive throughout the two day southern journey. Yes, Buddy was a one of kind and truly special friend that is being missed as we re-establish our lives in Florida. Someone asked that I post a special Buddy image as a final memorial. With emotions, he is our dear Buddy hanging in "his" chair in the Venice condo lanai.

 

The two day southern drive was quiet as the back seat was empty. The trip was mostly uneventful except for a near collision a bit after Dumfries, VA. As usual, the Baltimore to Alexandria I-95/I-295 stretch was bad as we arrived at about 3:00 PM into the Baltimore area. One cannot avoid the delays. Our near collision took place at dusk on I-95 with blue lights and police cars dealing with an issue in the northern bound lanes. Someone in front of us was caught up in the police action and not paying attention to the traffic. The driver in front of us hit their brakes hard. The Acura MDX is amazing machine as I hit the brakes with ever increasing pressure to avoid locking the brakes. We stopped in the matter of several seconds within four feet of the car in front of us. Believe me, it was that close and luckily, we were not rear ended. Diane was stunned and emotional after having such a bad week.

Sunday brought a mostly peaceful drive until reaching I-75 in Ocala, Florida. The usual crazies were out in force along with rain showers. Our Venice arrival came at a little after 7:00 PM to culminate 24 hours of driving across two days. I've not had a chance to assess the hurricane damage as we simply unloaded the MDX, drank some well deserved wine/tequila followed by a quick Chinese dumpling meal and bed time.

 

Live From Florida - The GFRC Office is Open!

The morning started at the usual 4:30 AM. The first step was unpacking the mobile GFRC office and firing up the Dell laptop for composing today's Blog edition. Breakfast was so important as I had barely eaten anything for two days while on the road. When traveling with insured inventory, our stops are quick with meals inside the car or within a hotel room. Roadway travels as a coin dealer are far from glamorous. It is a utilitarian lifestyle with the goal of arriving to a safe location where the inventory is protected.

As of 7:00 AM, it is official! The GFRC is open for business. Weekend orders will be loaded into the COIN system followed by issuing invoices. Key is heading down to the Venice PO early to announce our presence and kick starting Monday mail delivery. I'm certain that there will be checks waiting for us.

The USPS mailing transition schedule appears to have worked as planned. Thursday brought a single check payment with no mail on Friday.

Honestly, I need somewhat of a slow day after losing Buddy, closing down the Maine homestead, and driving for two days. Shipping will probably start tomorrow as it will take time to get the consignment and shipment inventory organized. At this point, Diane and I need a laidback day to recover.

 

Final Day to Submit Black Friday Discounting

Today brings the final day for submitting Black Friday discounting instructions. I will probably start loading those instructions later in the day today as Tuesday morning will be consumed with shipping.

 

Black Friday Sale Arrives Thursday Midnight

A reminder that the 2022 GFRC Black Friday Sale arrives at midnight on Thanksgiving Day.

The Black Friday Sale is an opportunity to secure quality coins at a discounted price within a robust market cycle. Honestly, I expect strong demand by knowledgeable collectors as this sale provides an opportunity to locate coins at wholesale levels. Once 2023 arrives, CAC Grading will be launched with that possibility that CAC green and gold stickered coins continuing to see increases. Where the cycle will peak is an unknown. Current demand for CAC approved coins exceeds availability and will stay that way in the foreseeable future. Given this fact, my outlet for aged inventory is the GFRC customer base. Why not reward loyal GFRC customers with great values several times per year? Regardless of all the pricing guides and grading services, the numismatic hobby is still a subjective retail environment. Some coins are immediately scooped up by collectors while others will sit in inventory for an extended period of time. Lack of demand, incorrect pricing, and/or insufficient eye appeal are typical reasons for a coin languishing in GFRC inventory.

Black Friday Weekend Sale Instructions

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

Accessing the Black Friday Weekend Sale List

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

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

When Does the Black Friday Weekend Sale Go Live?

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

How Do I Purchase Lots?

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

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

Unfortunately no....the Black Friday Weekend Sale is a cash and carry event. Regular GFRC payment terms will apply. PayPal usage will require a 3% adder to the combined purchase and shipping total with no exceptions. Credit cards usage is also possible with same 3% adder. For customers who wish to make a larger number of purchases and require 30 day terms, I'm sure we can work out a payment approach. My only requirement is that Black Friday Sale lots be completely paid for by the end of 2022. Orders requiring 30 day terms will not be eligible for Quick Ship.

When Will Black Friday Weekend Sale Lots Ship?

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

 

Global Financial News

A short Thanksgiving trading week is in store for the U.S. equity markets. Looking at Seeking Alpha's morning newsletter, the most important news of the day is WTI crude oil pricing dropping to a tad under $80/bbl. The reason given is China's ongoing Zero Covid policy and continuing lock downs. It was reported that three people died in Beijing from Covid recently. Goldman Sachs has downgraded its 4Q22 crude oil price target to $100/bbl due to Covid shutdown impacts on China energy demands as it the manufacturing sector continues to slow.

Morning market futures are forecasting initial selling at the 9:30 AM open.

In Asia, Japan +0.16%. Hong Kong -1.87%. China -0.41%. India -0.84%.

In Europe, at midday, London -0.08%. Paris -0.64%. Frankfurt -0.30%.

Futures at 6:30, Dow -0.28%. S&P -0.55%. NASDAQ -0.75%.

Spot gold has dropped to $1742/oz while Bitcoin is attempting to hang onto the $16,000 level. The FTX scandal is utterly amazing and indicative of how "smart" people will become involved in a lucrative "fad". Have you seen the story of how Visa planned to issue a special FTX credit card? Well, that announcement has been quietly rescinded for obvious reasons.

 

Wrapping Up The Blog

There is not much else to share at this point. I need a nice warm shower as it is unseasonably cold here in Venice. Afterwards, I will be responding to weekend orders followed by that Venice Island post office visit.

Thanks again for being part of the GFRC community. Be well!

 

 

 

Friday November 18, 2022

An Incredible Outpouring of Support

 

Greetings on an early Friday morning.

This brief Blog edition is unscheduled as I had planned to wind-down before beginning the southern journey. However, yesterday's passing of Buddy and the incredible outpouring of email support was beyond anything I might have imagined. Every email expressing condolences and empathy was forwarded to Diane. The countless emails continued through the overnight hours and have helped kick start the healing process.

The Fortins have had dogs since 1983 when we gave two English-Irish Setter pups a home in East Fishkill, New York. Poker and Rusty made the journey to Maine during the construction of the homestead. Eventually, we lost both dogs due to age with Renee being the most impacted. I still remember Rusty dying in my arms as we tried to bring him to an emergency clinic. After careful research, Renee acquired an English Setter named Yoffi who become her cherished companion until leaving for her university years in New York City and Middletown, CT. Yoffi passed away while I working in mainland China and Renee was living outside of Washington DC.

Diane loves dogs as much as Renee. While Renee was attending vet school at Virginia Tech, she made a recommendation for the ideal dog breed for older individuals. That breed was a Bichon Frise with outstanding temperament and size that would meet the Auburn Lakes HOA regulations. Buddy was a mail order purchase from a breeder in Iowa and arrived at the Portland airport in a special carrier. He was a tiny pup and immediately became a part of the family and Diane's constant companion. They walked together every day. They watched TV together during morning and evenings. Buddy slept on his special bedding directly next to Diane in Maine and Florida. They were inseparable. As you can imagine, the love and bond was intense for a glorious 8+ years.

Buddy's health began to wane after the second ACL repair operation. He recovered nicely from the operation and appeared to be back to normal. However, his digestive system was becoming more sensitive along with having a heart murmur. Since returning from the Whitman Baltimore show and Diane returning from a hurricane clean-up trip to Florida, Buddy's health became problematic. Diane became Buddy's nurse and made every humanly possible effort to bring back her cherished companion to regular health. That battle was lost yesterday morning when Diane rushed Buddy to the Portland emergency vet clinic at 5:00 AM. Buddy was experience congestive heart failure with his lungs filling with fluids. By 7:00 AM, the untenable decision to end the fight was made. A deep sadness gripped the Fortins for much of the day though I maintained focus on packing the office and loading a few new offerings on the price list.

Then came the countless emails expressing sympathies, condolences, and empathy from other dog lovers. Each was forwarded to Diane and I tried to respond to as many as possible. Diane wishes to thank all the GFRC community members for their support and kind words. Those emails certainly accelerated the healing process with Diane feeling better last evening. The multiple weeks of care giving stress have taken a toll on Diane. Now she can recover her emotions and secure a good night's sleep moving forward.

Will we find another dog for the Fortin family? That is a question that is much too early to respond to. First is executing the transition to Florida for the winter followed by Diane spending time in Austin for the birth of our third grandchild. Our fourth grandchild is due in March with Diane probably spending time in Boston to provide support there. Another dog is out of the question until returning to the homestead next April.

Our sincere thanks go out to the entire community for the unbelievable support.

The next Daily Blog edition will be published from Florida. Be well!

 

 

 

Thursday November 17, 2022

Buddy the Dog - May He Rest in Peace

It is a deeply sad day at the homestead.

Buddy has just been put to sleep due to congestive heart failure. Diane is crushed as they were inseparable. The Fortin homes will never be the same.

Forgive me for sharing this news but felt compelled to do so. Buddy was part of the community.

 

 

 

Wednesday November 16, 2022

First Snow of the Winter Season

Final Day for GFRC Maine Office Operations

and

Seth Godin - But how will it fail?

 

Greeting on a snowy southern Maine morning. Welcome to the final Daily Blog edition from the Maine office. Your ongoing patronage is most appreciated.

It is not often that the homestead landscape, and now the barn, are seen with snow cover. The overnight brought maybe 2" at the most with the precipitation shifting to rain by mid-morning. Now that the snow is here, there is a sense of calm given that the Florida transition is imminent. Most important is that the leaves have been properly removed to avoid moles from finding homes under leaf coverage and damaging the lawns.

As the Blog is being composed, a familiar wintry sight appears. A Town of Raymond plow and sand truck arrives to the top of Ledge Hill and is spreading road sand and salt for morning commuters.

Tuesday brought yet another full day of winter preparations and GFRC office duties. The Fortin core dime collection is back in a bank vault. RV antifreeze has been sourced after a bit of a scare. The Raymond hardware store was out of the product and indicated that a recent restocking sold out quickly. This was a problematic development as we cannot leave the homestead without placing RV antifreeze in all drain, toilet tanks and elbows. Off I went to the nearby town of Gray and a well stocked TruValue store. Luckily, they had some product remaining on the shelves. Lesson learned here.... RV antifreeze must be purchased and stored during the out of season period.

Dry gas was also purchased for the cars along with filling the gas takes completely to avoid condensation. At some point today, the battery negative cables will be disconnected on all vehicles and tractors other than the MDX.

The balance of the day was spent in the GFRC office and tabulating an offer price for the 120 coin new purchase opportunity. That task is complete with a buyout price quoted to the client before heading to bed. This deliverable was bothering me, and now that it is complete, I'm in a wind-down mode with respect to the GFRC business.

Unfortunately, Buddy was back at the Raymond vet during Tuesday afternoon hours. He is still not eating which is a concern for Diane. More blood work revealed an elevated white blood cell count along other things. It appears that the Buddy saga will continue while in Florida. Therefore, Diane is researching potential vets in the Venice area.

 

Final Day for GFRC Maine Office Operations

Today brings the final day of regular office operations. After huge shipping days on Monday and Tuesday, today's shipments will be slowing down to maybe four or five packages. Afterwards, the focus shifts to organizing regular GFRC inventory and those items in the consignment queue. All consigned coins must be labeled prior to being packed. Key is determining the number of double row slabbed boxes and luggage pieces necessary to bring about a smooth transport. To lighten the load, Monday brought another lower priced coin shipment to GFRC-Lite.

Otherwise, office accessories, reference books, photography equipment, coin show badges etc. must be secured and packed. Diane has constructed a long check list of items to ensure that nothing critical is left behind in Maine.

Of course, I will be monitoring online orders and responding when possible through tomorrow. While on the road, Collectors Corner order will be acknowledged while not driving.

Today also brings the GFRC mailing address changes for the website and Collectors Corner.

If it appears that I'm in a peaceful mood this morning, that I am. The packing process has become a routine. All critical business deliverables have been completed after the morning shipping is picked up by Doug the Mailman. Yes, Doug has also received his holiday "tip" and will be watching for any GFRC mail/return shipments that must be forwarded to Venice.

 

Attention Consignors - Black Friday Discounting Inputs Due by Next Monday

A reminder that Black Friday discounting instructions are due to me by no later than Monday, November 21. After the Venice office is brought online, one of the first tasks will be loading the COIN system with those discounting instructions.

At some point today, the Black Friday countdown clock and banner will appear on the GFRC website as a reminder that the sale date is approaching quickly.

 

Seth Godin Blogpost - But how will it fail?

Before moving to the financial news segment, let's hear from Seth Godin with some wise advice for contemplation.

As one acquires more assets, mechanical and electronic items, and even growing the GFRC business, there will be the day when something will break. For example, I no longer have Tidal streaming capability with the Naim/Focal sound system since the mini-iPad operating system has become obsolete for downing Tidal software updates. Once back in Maine come May 2023, a new tablet must be purchased and configured to operate the streaming portion of the basement sound system.

Another example is that the GFRC COIN database has grown so large that the current Dell laptop (now three years old) is struggling to process a 20,000 line Excel file. While in Florida, I must find the time to purchase the newest generation laptop with the most advanced Intel processor followed by porting all software to the new platform. It is better to be proactive rather than waiting for a catastrophic failure and the ensuing panic recovery. Seth Godin is certainly correct that assuming that technology items will never fail is a terrible assumption. Let's hear him out....

The wrong answer is, “it won’t.”

If you buy a piece of tech, it will break.

If you buy an asset of some sort, it’s likely to go down in value one day.

If you start a project, you will one day walk away from it.

And everything that is alive will die.

Refusing to answer the question doesn’t make it more likely that it won’t fail. All it does is make the failure more painful.

 

Global Financial News

The semiconductor industry enjoyed a upbeat day on Tuesday when announced that Warren Buffett had taken a significant position in Taiwan Semiconductor (TSMC). Otherwise, a missile falling on Poland and Donald Trump announcing his third attempt at the White House dominated the news cycle.

U.S. equities continued to rally with the S&P 500 back to within a few points of the 4,000 mark. For those who might be contrarian investors, take a good look at XLE (oil industry giants). Big oil is recording record profits as major infrastructure expansion projects are on hold. With the professed goal to close down the fossil fuel industry in lieu of renewables, large capacity expansions are not underway. Without new capacity expansions, U.S. oil production will not increase and actually shrink over time. The U.S. is one of the largest oil producers on the globe. This will leave OPEC+ to fill the gap when the next economic expansion occurs. Certainly that gap will be filled at higher and higher prices. Bottom line, Big Oil could become a huge cash cow with proceeds being invested in stock buybacks.

Morning market futures are flat to start the day.

In Asia, Japan +0.14%. Hong Kong -0.47%. China -0.55%. India +0.17%.

In Europe, at midday, London -0.05%. Paris -0.46%. Frankfurt -0.88%.

Futures at 6:30, Dow +0.04%. S&P -0.01%. NASDAQ -0.15%.

WTI crude is quoting at a tad over $87/bbl. Spot gold is hanging tough with a morning quote of $1786/oz. Bitcoin is trading within a lower range at $16,748.

The 10 Year U.S. Treasury bond yield has stabilized, for the time being, at 3.8%.

 

Wrapping Up The Blog

Yes, I will be in the GFRC office the entire day other than shoveling the driveway and disconnecting those vehicle battery terminals....

Purchase emails are most welcomed with the understanding that payments must be sent to Florida. I will conduct courtesy "ship ahead" shipments on Thursday for those clients well known to me.

Otherwise, I wish Blog readers a pleasant numismatic day. Be well!

 

 

 

Tuesday November 15, 2022

Buddy Barks at Doug the Mailman......

and

GFRC Office Closed November 17 - 20

 

Greeting and welcome to the Daily Blog on a Tuesday morning. Thank you for visiting.

Another office day starts with the wood stove nicely warming the homestead. A full load of hardwoods will burn throughout the night leaving ample coals remaining at 4:30 AM for a fresh log or two.

Southern Maine weather has become seasonal as the morning outdoor temperature is a cool 24F with clear skies. Tomorrow brings the first snowfall of the winter season. The accumulation is forecasted to be 2" or so.

Today brings yet another busy day towards closing down the homestead for the winter months. Parked cars need dry gas and battery terminals disconnected. Ditto for Johnny2 and the JD240 lawn tractor concerning disconnected batteries. RV antifreeze must be purchased and readied for application in toilets and drains during the departure morning. The string algae bloom in the spring pond will be treated with algaecide as a temporary measure. Next year brings the addition of beneficial bacteria to stabilize the pond before trout are added. The barn construction road has been closed with five large boulders and red marker poles. Similarly, the driveway has been marked for the plowing contractor. Yes, there are a host of preventative measures that must be executed prior to our departure.

As for the GFRC business, pricing out that 120 piece lot is taking much of my precious time. The owner is pushing me for an offer number while I work through the homestead matters. Morning shipments continue at a brisk pace.

The two USPS issues, mentioned in Monday's Blog, were resolved thanks to the intervention of the clients with their local USPS offices.

Composing a creative Blog edition is not on the top of my priority list. Seth Godin is no help. I'm is a shutdown mode while still sustaining commitments and GFRC service levels through tomorrow. After that, I'm looking forward to a much slower and controlled pace with no last minute heroics.

 

Buddy Barks at Doug the Mailman......

So what might be the natural response to this headline as dogs always bark at postal carriers.

In our case, this is the first time in two weeks that Buddy has barked. His strength continues to improve on a daily basis leading to yesterday's mild barking and growling when Doug drove down the driveway. This is indeed progress concerning Buddy's recovery with just a few days to go before leaving for Florida.

 

GFRC Office Closed November 17 - 20

With so much to get done in the next fews days, I've decided to close the GFRC office for four days. Yes, this is unprecedented for the GFRC business and the first time that a long office closure is formally announced.

Starting Thursday morning, there will be no Blog edition until Monday November 21. The last shipments will go out Thursday morning followed by subsequent orders shipping from the Venice office starting November 22. Your blogger and favorite coin dealer needs a break from the long business hours towards carefully packing inventory and ensuring that no coin is left behind in Maine.

 

Global Financial News

Big tech is announcing substantial layoffs including Amazon and Meta. Cost cutting has arrived to an industry famous for dizzying growth rates.

Over in Indonesia, the G20 summit appears to be moving along without issues. Biden and Xi held three hours of discussions on a host of topics. The fact that the leaders of the two largest economies are talking face to face is a positive development.

Over in Ukraine, the warring parties are awaiting the winter freeze and Putin's next move once the ground is frozen. Will Putin use his 300,000 new recruits towards launching another major offensive?

The lack of disturbing new is helping U.S. equities and demonstrated by morning market futures. Wouldn't be nice to see the S&P 500 over the 4,000 mark as year end approaches?

In Asia, Japan +0.1%. Hong Kong +4.1%. China +1.6%. India +0.4%.
In Europe, at midday, London flat. Paris +0.3%. Frankfurt -0.1%.
Futures at 6:30, Dow +0.3%. S&P +0.7%. NASDAQ +1.2%.

Now that the U.S. dollar has weakened at tad (DXY@106), spot gold continues to rally with a morning quote of $1780 per ounce. WTI crude is trading at $85+/bbl. Bitcoin is flat at $16,774.

The 10 Year U.S. Treasury bond yield is priced at 3.8%. Dropping bond yields is bullish for the NASDAQ and gold.

 

Wrapping Up The Blog

There is little else to share at this point. Today's primary activities are moving the Fortin core Seated dime collection back into the bank vault along with shopping for homestead winterizing supplies. Once back in the office, I must price out 120 coins for an offer to our client. Those coins are fully loaded into the COIN system as of yesterday evening.

Thank-you for checking in. Be well.

 

 

Monday November 14, 2022

Sunday in Boston with Yamatin Family

I Need Your Help Tracking USPS Shipments

and

Florida Transition Week Arrives

 

Greeting on a cold southern Maine Monday morning and welcome to the Daily Blog.

Yes, seasonal November weather has made its appearance with the current temperature at 30F and only reaching 40 degrees during the afternoon hours. A check of the 10 day forecast indicates the possibility of light snow on Wednesday, otherwise the Fortin's final week in Maine should be quiet weather wise.

The first task of the day was firing up the wood stove which remains operational through the Florida departure. There is nothing like a warm hearth at the center of the homestead.

There is not much to share this morning as the Fortins spent Sunday in Boston with the Yamatin family. Yes, I took the entire day off from the GFRC office and feel relaxed this morning. One could call it the calm before the packing storm and long I-95 southern journey to the Florida state line.

 

Sunday in Boston with Yamatin Family

Living a public life via the Daily Blog brings security challenges. There are times when a ruse must be used to cover the whereabouts of the Fortins. This was the case within Sunday morning's Blog whereby I indicated spending a regular office day while actually driving to Boston shortly after the publication's upload. Believe me, I don't enjoy staging these types of deception but the alternative of announcing our travel plans is just foolish and naive.

Since relocating to Florida for Thanksgiving, Diane and I wished to spend time with the Yamatins on Sunday as the best alternative for a brief family reunion. Matt's professional career has accelerated as he find himself guiding the sustainability strategy (and execution) for a $39 billion company. The challenges are enormous as is the personal growth potential. Matt has recovered from Covid and is feeling well enough to return back the TMO office today. Chikae's pregnancy is moving along smoothly with grandchild number four on the way. Natsumi is a bundle of energy and a charming granddaughter. She is attending school just a few blocks from their Boston home.

We thoroughly enjoyed our visit with the Yamatins including a super lunch at a nearby Japanese noodle house. If seeking authentic Asia cuisine, Boston certainly has some excellent options. The only challenge is driving into Boston given its complex road layouts. If making one incorrect turn, the recovery is painful. Luckily, the drive in was uneventful as was the exit back to Storrow Drive followed by heading north on Route 1.

 

I Need Your Help Tracking USPS Shipments

The year end 2022 holiday season is upon us which means heavy USPS shipping volumes. Since Amazon employs USPS for the final delivery leg outside of major urban centers, USPS is certain to be overloaded soon with seasonal deliveries.

Already, I've experienced two USPS issues with Newtown Liberty Seated Dime auction lots. The first event took place in Durham, NC whereby the client requested a HOLD at the post office for pick-up. For whatever reason, the package was delivered to an incorrect post office with the HOLD status. That post office did not recognize the address and labeled it with insufficient address following by returning it to the Maine office. Where the package is for the return process is an unknown. How I hate to have a $5000 coin being snagged by USPS mistakes.

The other Newtown dime has been sitting in an Indiana post office since November 8 since the addressee was not home for signature delivery and for whatever reason, did not receive/see the pink slip for retrieving his package. There is a reasonable probability that this dime will also be returned to Maine office as today is the 14th. The timing could not be worse given our forthcoming departure.

Please, please help me out with paying close attention to your email Inbox and Spam folders for USPS tracking number emails. Once received, please check the tracking status daily until the package is delivered to you or make arrangements for a post office pick-up.

I'm certain that USPS will begin to experience holiday season overloads and the subsequent handling errors that are typical for this time of year. Please stay close to your deliveries to ensure that they arrive safely. Thank-you!

 

Florida Transition Week Arrives

As you can imagine, the relocation of a vibrant GFRC business from Maine to Florida is not a trivial exercise. Not only is the business being packed up, with no coin left behind, but the homestead must be properly closed down for the winter months. The checklist is long and will be consuming me across the next 72 hours or more.

I'm expecting heavy GFRC shipping days today and Tuesday before slowing down the business for careful packing of inventory, consignments, and a host of office accessories. Since having conducted these moves multiple times, there is a certain routine that is followed with each day bringing incremental milestones.

 

Black Friday Discounting Inputs

Discounting inputs for the Thanksgiving weekend Black Friday Sale are slowly appearing and being filed in the email Inbox. These instructions will be viewed and acted upon once in Florida. Therefore, please don't be alarmed if there is no immediate response to your inputs.

Let's remember that a minimum 8% discount is required to participate in the Black Friday Sale. Already, I've received some substantial discounting instructions for coins that have been on the price list for several years. These consignors believe it is time to move on and let their coins find a new home at inexpensive levels.

The Black Friday Sale opens at midnight Thanksgiving Day and will close at 9:00 PM on Sunday November 27. The sale is a cash and carry event with no lay-a-way options.

 

Global Financial News

Last week's significant rally may not have sustainable legs as morning market futures are pointing to moderate selling as we start another trading week. Inflation at 7.7% is still a major issue for the Federal Reserve and the question of a "pivot" comes next at the December 14 meeting report out. Will U.S. equities tread water until the middle of December?

In Asia, Japan -1.1%. Hong Kong +1.7%. China -0.1%. India -0.3%.
In Europe, at midday, London +0.5%. Paris +0.2%. Frankfurt +0.2%.
Futures at 6:30, Dow -0.3%. S&P -0.4%. NASDAQ -0.6%.

Already higher WTI crude oil prices are translating into higher gas prices at the pump here in Maine. The black gold is priced at $88/bbl to start the day.

Spot gold prices are holding on to recent gains with a morning quote of $1760/oz. Bitcoin's struggles continue with a quote of $16,768.

The 10 Year U.S. Treasury bond yield is moving up again at 3.9%.

 

Wrapping Up The Blog

A full day of GFRC office work certainly awaits me given taking Sunday off. Let's wrap the Blog up here and hit the upload button.

Thanks for checking in. Be well!

 

 

 

Sunday November 13, 2022

GFRC Check Payments on Hold Until November 17

A Barren Coastal Horizon View

and

Two Smaller Whitman Baltimore Consignments

 

 

Greeting on a quiet mid-November morning and welcome to the Daily Blog. Thank-you for stopping by.

What an incredible November in terms of weather! It is difficult to believe that Saturday brought a t-shirt and shorts day while working outdoors utilized regular summer work clothes. The string of warm days comes to a close this evening as southern Maine drops below freezing. The coming week sees daily highs forecasted in the low 40s with a chance of snow on Wednesday. All good things must come to an end. Our Florida transition is quite timely this year.

Speaking of the Florida transition, the weekend brought more preparation progress, specifically updating the mice bait boxes and adding poison bait in the sound room suspended ceiling and other basement areas. The new barn was also baited to ensure that field mice do not find a new home. The challenge is ongoing and best to get an early start on killing off the first visitors to the barn.

Yes, this week brings an orderly packing of the Maine GFRC office for transport to Florida. The workload starts on Monday with a huge shipping day followed by a bank box visit and heading to Lowes for spring pond algaecide. Yes, it did not take long for the spring pond to start growing string algae some of which is piling up and slowly clogging the spillway. This was not anticipated and must be dealt with starting tomorrow.

So how is Buddy doing? The progress is slow but steady with Buddy still not eating on a regular basis. Each morning and evening brings his dose of doxycycline via a syringe followed by two syringes of water. Buddy is being a good sport concerning his treatment and does not complain or struggle. The strangest part of Buddy's health ordeal is that he has not barked for days which is so atypical when Doug the Mailman arrives. Hopefully the coming week will bring about continued improvement.

 

GFRC Check Payment on Hold Until November 17

The time has come to hold back GFRC payments will the Florida transition occurs. Please hold check payments until November 17 with an address shift to the Venice Florida office.

GFRC, 502 Auburn Lakes Circle, Venice, Florida 34292.

Come Wednesday, the GFRC website and Collectors Corner will be updated to the Venice office address. On Thursday, payment checks can be sent to Florida. Your attention to this matter will help avoid USPS forwarding delays.

 

A Barren Coastal Horizon View

It is with mix emotions that the following image is published today. Much has been accomplished with respect to the homestead's back acreage, the barn construction, and surrounding landscaping. I'm most proud of the progress in just six months. Leaving the homestead for five months does brings concerns and a slight amount of anxieties. Fortunately, the Dodson new home will be under construction while we are away. It is comforting to know that construction workers will be around during the daytime hours with a can't be missed presence.

Now that the trees have dropped their leaves, one can gain a sense of the coastal view that was available when purchasing the property during the Fall of 1984. This entire landscape was a blueberry field and a destination for local residents during the July picking season. The view was captivating and a motivation for tendering an immediate purchase offer. As the decades passed with much of my time spent is Asia, the trees returned to block the coastal horizon view. Come the summer of 2023, clearing more trees will be on the top of the agenda along with completing the graveling of all walking trails.

Yes, the sun's low position in the sky is readily evident as this image was taken at 2:30 PM. Note the long branch shadows across the lawn and on the barn roof. Mother Nature has moved into a dormant phase and will return come early May.

A Barren Coastal Horizon View

 

Two Smaller Whitman Baltimore Consignments

Today brings another round of Whitman Baltimore show consignments for consideration. These lots have yet to be added to the COIN database or priced as of this morning. By end of day, pricing proposals will sent to the consignors for approval.

There are several highlights that warrant attention. First is the 1818 O-109 half from the Burrowing Owl Collection that was sold via GFRC auction back in April 2021. Second is the 1860 $5 gold piece with deep rose orange-gold coloration that is an eye catcher.

Incremental Whitman Baltimore Consignments

Please Email for First Shot and Price Quote

            1852 PCGS EF45 25C                                                         1818 O-109 PCGS EF45 CAC 50C

    

 1856-S PCGS Genuine 50C                                                       1936 PCGS MS66+ CAC 50C

    

1946-D PCGS MS66+ CAC 50C                                                       1860 PCGS AU53 G$5       

    

 

Wrapping Up The Blog

So ends today's Blog edition as there is little else to share.

Today brings an office day with the primary focus being the loading of that huge new purchase lot into the COIN system and working through the offer pricing process. Nearly 120 coins will keep me busy during the daytime hours.

Thank you for visiting. Be well.

 

 

 

Saturday November 12, 2022

Last Day to Mail Payment Check to Maine Address

and

A Short Blog Edition

 

Greeting and welcome to the Daily Blog on an early Saturday morning.

Fog and pending rain soon arrives to southern Maine with the temperate still hovering in the mid 60s. It certainly seems to be too warm for mid-November. The wood stove was started last evening in anticipation of cooler temperatures. Instead, the homestead has over heated.

Friday brought a 7 hour outdoor day conducting the final round of leaf clean-up on the homestead grounds and within the back acreage trails. The Dodson rock pile has yet to be moved allowing an opportunity to source another six front bucket loads of aged stone. By 4:00 PM, the body was tired as I'm not use to putting in a full physical work day. It goes without saying that the evening brought an early bed time rather than loading coins to the 30 Day Price List.

Buddy continues down his improvement path thought the eating side of the equation remains tenuous. His appearance is 100% better than earlier this week.

Today's Blog will be very brief as there is a substantial amount of shipping to stage along with price list postings that were due to happen yesterday.

 

Last Day to Mail Payment Check to Maine Address

The Florida migration is approaching quickly and the time has arrived to stop mailing checks to the Maine office. TODAY is the final day for mailing payment checks to the Maine address. Hopefully all letters will be delivered before our departure, otherwise payments will be forwarded to the Florida address.

No payments should be mailed to GFRC Florida office until November 17 earliest. I will be changing the GFRC business address on the website and Collectors Corner come Wednesday November 16.

 

Wrapping Up The Blog

That is all she wrote on a Saturday morning. I heading into the shipping department while the homestead still remains quiet followed by a day of posting coins to the price lists.

Thank-you for checking in. Be well!

 

 

Friday November 11, 2022

Buddy in Recovery Mode

A Substantial Collection Arrives for Outright Purchase

and

Balance of Fortin Liberty Seated Dime Core Set Duplicates Available

 

Greeting on a Friday morning and welcome to yet another Daily Blog edition. I'm pleased that you could find the time to stop by and check in on GFRC happenings.

As the lead headline indicates, Buddy the Dog has turned the health corner and is now in a recovery mode. Diane and I could not be more relieved with Buddy's improving condition. Several days of doxycycline treatment along with a final round of nausea and pain killer injections, on Thursday, have had an impact.

Yesterday brought this realization while on the phone with the Sooner Collection consignor and sitting on the living room couch. There was Buddy heading up the stairs without struggling. Sure, the climb was slow and determined but one heck of an improvement in his joint strength. As the day progressed, we could see Buddy moving around the homestead and wishing to hang out with us. Contrast that to several days of having wobbly legs, zero energy, and simply resting on the floor in the upstairs bathroom. Buddy is also starting to eat, though minimally at this point.

Diane has done it again with an intense persistence to ensure that Buddy recovers and enjoys a comfortable life. There have been at least seven trips to three different veterinarian offices in the past ten days to bring about a diagnosis and remedial actions. Presently, we are confident that Buddy will have recovered in time for next weekend's long drive from Maine to Florida.

Let's move on the numismatic portion of today's Blog edition.

 

A Substantial Collection Arrives for Outright Purchase

For the past year, GFRC has been slowly purchasing a substantial collection on an incremental basis. Many of the "new purchases" Capped Bust and Seated half dimes have been from this collection along with Indian cents, 3 Cent pieces, Barbers and toner Morgans.

Our client requested that we finalize the collection purchase before the end of 2022, which was agreed upon. This week brought two USPS registered shipments totaling nearly 120 coins across all denominations and designs. The following image captures the incremental coins that will soon be added to GFRC inventory. All will be photographed in Florida and posted to the 30 Day Price List during the December and January 2023 time frame.

So how does GFRC evaluate a collection and determine a fair purchase price? I'm glad that you asked!

Everything that takes place at GFRC is conducted as a systematic process that is repeatable and constantly refined for improved efficiency. When purchasing a collection of 10 coins or 120 pies (as is the case here), the process is the same. First, the offered coins are loaded into the COIN database with all pertinent information. Second is a pricing activity whereby the GFRC selling price is determined after carefully inspecting each coin and determining a quality rating. Once each coin's selling price is captured, the offer price is back calculated based on a required operating margin. The offer prices are totaled with one number provided to the collector as a purchase price.

GFRC does not pick and choose when buying, rather the entire lot is purchased. The lower priced coins, which provide insufficient return for my precious time, will be shipped to GFRC-Lite for selling via this franchise operation. Since Rich will be investing time into the lower priced coins, I am sending those to Rich at my purchase price.

 

Balance of Fortin Liberty Seated Dime Core Set Duplicates Available

Today brings the balance of the Fortin Seated dime core set duplicates to the Blog. The following lots are most difficult to part with as having been in the family for decades. However, the eleven piece upgrade deal with Newtown requires partial funding by selling the displaced dimes. Several of the following coins are also die variety pieces that I've struggled to part with. All at web-book plate coins at The Definitive Resource for Liberty Seated Dime Variety Collectors online reference. The web-book plate coin images will be updated today with these higher quality versions.

Image processing was wrapped up last evening without an opportunity to consider offer prices. I was up early this morning towards loading these into the COIN database and uploading images to the server just in time for today's Blog showcase. If my day goes as planned, most of these pieces will be posted to the 30 Day Price List before heading to bed.

If wishing first shot on for any of the premium quality Seated dime duplicates, please send along an email requesting such. Past history as shown that the first person on a coin is typically the buyer as my prices are fair for both parties to the transaction.

Folks, there are some really nice pieces in this lot that would provide a substantial improvement to an advanced Liberty Seated dime collection. I must ask that the transaction be on a cash/carry basis as the monies will be shifted towards paying for the Newtown acquisitions.

Fortin Liberty Seated Core Set Dime Duplicates to Consider

1881 F-101a PCGS MS66 CAC 10C

    1842 F-105 NGC MS65 CAC 10C                                                1859 F-107 PCGS MS66 CAC 10C

    

1859 F-103 MPD NGC MS65 CAC 10C                                         1860 F-104 PCGS MS66 CAC 10C   

    

 1852 F-101 NGC MS65 CAC 10C                 1876 T1 F-116 PCGS AU55 50C                  1877 T1 F-106 PCGS AU55 50C

                

 

Global Financial News

The October Consumer Price Index report indicated that inflation was running at 7.7% on an annual basis. The consensus forecast was 8.0%. The slight drop in reported inflation was sufficient to ignite a major market rally with all markets moving up between 3.5% to 7.5 % on Thursday. As of this morning, the S&P 500 stands at 3,956 while spot gold jumped to $1760. The sharp jump in the yellow precious metal is tied to an anticipation that the U.S. dollar will weaken in the coming months due to a Federal Reserve "pivot" on Fed Funds rate increases.

Morning market futures are forecasting some leftover optimism when trading opens but caution is warranted. We are still in a bear market that has experienced a huge relief rally.

In Asia, Japan +3%. Hong Kong +7.7%. China +1.7%. India +2%.
In Europe, at midday, London -0.4%. Paris +0.4%. Frankfurt +0.6%.
Futures at 6:30, Dow +0.4%. S&P +0.5%. NASDAQ +0.7%.

The 10 Year U.S Treasury bond yield also dropped to 3.81% due to anticipation of the Federal Reserve pivoting on its tough inflation fighting stance.

WTI crude is back to nearly $90/bbl. This should be expected if there is a longer term belief of a recovering U.S. economy.

The Bitcoin market remains a mess with a price quote of $17,316.

 

Wrapping Up The Blog

Rain is forecasted for this afternoon and throughout Saturday. Since it is Veterans Day and USPS is closed, I will be working outdoors immediately after the Blog is uploaded. Moving more stone from the Dodson rock pile and blowing the last of the autumn leaves is on the agenda. Once the rain arrives, I will be in the GFRC office non-stop through Sunday morning.

If wishing to secure first shot on any of the Fortin core dime set duplicates, please send an email. I will respond to those come the early afternoon hours. Please don't become anxious if not receiving a response this morning as my focus is on outdoor work.

Happy Veterans Day to the many among us who served our great country. Be well!

 

 

 

Thursday November 10, 2022

Saw Mill Collection - Choice Seated & U.S. Gold to Consider

and

U.S Gold from the Baltimore Collection

 

Greeting and welcome to the Daily Blog on a Thursday morning. Thank-you for visiting.

The November month is rapidly moving along with Thanksgiving being just two weeks away. It is hard to believe, isn't it? Next week brings a sharp drop in southern Maine temperatures with daytime highs only in the 40s along with mid-20s for the overnight hours. Rain/snow mixtures are now appearing in the forecast. The time has arrived for the Fortins to migrate to a warmer climate before the first major snow storm appears.

Friday brings the Veterans Day holiday which means that banks and the USPS system are closed. To ensure GFRC shipment security, we will be delaying shipments until Saturday.

A reminder that Saturday November 12 is also the last day for mailing check payments to the Raymond, Maine address. We will use the GFRC Ship Ahead courtesy starting next week for trusted clients. For new clients, and Collectors Corner orders, those making payment via check will see their orders shipped from Florida once check payment arrives. Yes, it is recognized that this transition process is complicated for clients. Therefore, I will be working closely with those mailing check payments to ensure that the correct address is selected.

The wild card in our planned Florida transition is Buddy's health. Little has changed in the past 24 hours. Yesterday brought another visit to the Raymond veterinarian for several injections for nausea and pain relief. Buddy quickly responded and ate several treats at the office but has since gone back to being in slow motion with little appetite.

Today brings two consignment galleries for lots that were insourced at the Whitman Baltimore show. In the background, I am also working on another Oregon Beaver consignment that arrived prior to the Baltimore event. Image processing is close to being completed for another round of Beaver $2.5 gold and Liberty Seated half dollar offerings.

 

Saw Mill Run Collection - Choice Seated & U.S. Gold to Consider

The Saw Mill Run Collection has been an ongoing GFRC consignor since 2014. His consignments are well recognized for their premium quality. Today brings a strong mixture of CAC approved Seated quarter/halves along with several U.S. gold pieces. The Seated offerings are at a price point that should draw considerable attention.

Let's take a quick walk through the gallery. We open with a near-gem 1844 WB-10 half from the Dick Osburn Collection. Yes, this half is as attractive as illustrated by my images. Surfaces are pristine while the strike is all there. Following the 1844, on the top line display, is a rare 1878-CC half that was originally sold by GFRC into the Saw Mill Run Collection. I can't stress enough on how challenging this date has become across all grades.

The 1859 $10 gold offering warrants attention given its lightly mirrored fields and overall preservation. Mintage is a tiny 16,013 pieces. Yes, this piece is as attractive as illustrated. The balance of the offerings are Liberty Seated coinage with all being CAC approved other than the scarce 1862 half dollar.

Look for these offerings to post to the price list during the morning hours since we are not shipping today.

Saw Mill Collection - Choice Seated & U.S. Gold to Consider

Priced as Marked

1844 WB-10 PCGS MS62 50C - $1550                                              1878-CC PCGS VF30 50C - $3850

    

1846 LD NGC AU55 G$5 - $1150                                              1859 PCGS EF45 G$10 - $1750

    

 1847 PCGS EF40 CAC 25C - $265            1842 MD PCGS EF40 CAC 50C - $335       1846 TD PCGS EF45 CAC 50C - $625

                

       1862 PCGS AU50 50C - $700                 1872-S PCGS VF35 CAC 50C - $425            1873 NA C3 PCGS VF35 50C - $315 

                

 

U.S Gold from the Baltimore Collection

The Baltimore Collection is a father and son collecting teams who religiously attend the Whitman Baltimore show on Saturday mornings. Their collecting habits are a bit eclectic though the consignments have been consistently U.S gold. At the "Winter" show, the following three lots were taken in on consignment. The 1840-O Winter 3 $5 gold piece is the unquestionable highlight of the group. This date is found with broad and narrow milling that can be easily identified by date and mintmark positions. Strike quality is an ongoing issue for this date with weak obverse centers that can seen on this AU55 certified example. The lower hair curls are essentially missing. A few of the Winter-3 variety will be found with a counterclockwise rotated reverse as is the case here.

A pricing proposal will be prepared today and sent to the consignor for approval. If interested in first shot and a price quote, simply send me an email.

U.S Gold from the Baltimore Collection

Offer Prices Forthcoming

1840-O Narrow Mill Winter 3 NGC AU55 G$5

  1850 PCGS F15 G$2.5                                                            1846 Lg Date NGC AU58 G$5

    

 

Global Financial News

Now that the mid-term elections are nearly over, traders will be focused on the October Consumer Price Index report that appears at 8:30 AM ET. Morning market futures are presently flat going into the report. Expectations are for an 8.0% top level inflation rate.

Yesterday's post election trading brought notable losses with the S&P 500 down to 3,748.

Bitcoin continues to struggle with another drop to $16,270. The background trading exchange issues are complex to explain as I'm not a fan of Bitcoin and spend zero time studying the trading infrastructure.

In Asia, Japan -1%. Hong Kong -1.7%. China -0.4%. India -0.7%.
In Europe, at midday, London -0.2%. Paris -0.7%. Frankfurt -0.2%.
Futures at 6:30, Dow +0.1%. S&P +0.1%. NASDAQ +0.3%.

After last week's peak at $92/bbl, WTI crude has seen daily reduction with today's quote at $85/bbl. Spot gold is still trying to hold the $1700 threshold at $1709/oz. The 10 Year U.S. Treasury bond yield is reporting at 4.1%.

 

Wrapping Up The Blog

Today brings another office day other than securing new tires for the Acura MDX. More of the Fortin Liberty Seated Dime collection duplicates should be available as another gallery in Friday's Blog edition.

Let's end today's ramblings at this point as Diane will soon need my help with giving Buddy his morning doxycycline dose.

Thanks again for stopping by. Be well!

 

 

 

Wednesday November 9, 2022

Striking a Liberty Seated Dime Upgrade Deal with Aaron Heintz

Greg Johnson Guest Blog - Coin Dealing, Coin Shows, and a Passion for Collecting

and

Releasing Liberty Seated Dimes from the Fortin Core Collection

 

Greeting on a chilly Wednesday early morning and welcome to the Daily Blog. I hope that this edition is thoroughly enjoyed.

Life is never dull at the Raymond homestead as the primary concern continues to be Buddy's health. Progress appears to be at hand thanks to Diane's research diligence and working closely with our lead veterinarian in Oxford. This is the same doctor who has repaired both of Buddy's back legs and is now leading the fight to save Buddy. With Buddy not willing to eat, his condition grew more tenuous by the day. Yesterday brought the decision to treat Buddy for Rocky Mountain Spotted Fever (RMSF) with doxycycline. However, a pill version is out of the question as Buddy is no longer eating. Luckily, Diane found a liquid version of doxycycline in Yarmouth that can be administered directly into Buddy's mouth followed by a full syringe of water to wash down the antibiotic. The first dose was administered at the Oxford office followed by Diane and I handling the second dose last evening before heading to bed. I just checked on Buddy while composing the Blog. He is resting quietly with Diane hoping that his appetite begins to return. Hopefully the doxycycline will have its intended effect as we are out of options otherwise.

My dentist appointment, a routine cleaning, went very well and I could not be more pleased. The low sugar/carb diet has resulted in increased teeth health as the cleaning found little in terms of plaque build up across six months. I was in and out of the dentist office in no time. For readers who wish to lose some weight towards better overall health, all I can say is that removing carbs and foods with obvious sugar content does work wonders. Learn to read the labels of all purchased foods. You will be amazed as how the food processing industry hides sugar, lots of it, in supposedly "healthy foods". It really is a crime...

Now that these topics are out of the way, let's get to the numismatic news.

 

Striking a Liberty Seated Dime Upgrade Deal with Aaron Heintz

Aaron and I are pleased to report that a win-win purchase agreement has been struck for eleven Liberty Seated dimes in the Newtown Collection. The deal is done with those eleven dimes already having migrated into the Fortin core collection. Those pieces were added to the CAC only Basic Set in the GFRC Open Set Registry on Tuesday. You are invited to click on the below link to view the revised Fortin Collection.

The Gerry Fortin CAC Approved Liberty Seated Dime Collection

Playing the long collecting game best describes my set building philosophy. This collection was started in the early 1990s with significant upgrading between 1997 through 2005. The collection remained dormant from 2006 through 2012 while living and working in mainland China. Since launching GFRC and being well connected inside the numismatic hobby, the set has undergone a number of significant improvements. Most were single upgrades until the Newtown Collection opportunity arose. The divestment of the Tom Bender Collection will also bring several more targeted acquisitions as long as DL Hansen does not fancy those targeted lots.

One thing is for certain! I am a coin collector rather than a label collector. Many higher graded Seated dime have been seen over the years that did not meet my strict purchase standards. In the end, the Fortin collection will never be #1 in a TPG set registry. However, I will gladly display the set against those that might be at the top of the Registry leader board. The coins will speak for themselves.

As of Tuesday, the GFRC Online Auctions catalog has been updated with the purchased dimes removed. All remaining Newtown dimes will be available for lot viewing at the Orlando Winter FUN show. The Newtown Session 2 auction begins on January 21, 2023.

 

Greg Johnson Guest Blog - Coin Dealing, Coin Shows, and a Passion for Collecting

The Fall (Winter?) Whitman Coin and Collectibles Expo has been in the history books for nine days already. It’s not officially too late to comment, though, as PCGS has just today logged in the grading I submitted in person on Friday (October 28).  As Gerry mentioned in a blog leading up to the show I did, in fact, spend most of 1.5 days behind the tables at GFRC during the show. It was an interesting experience being table assistant at a major show and witnessing first-hand the high-speed buying, selling and general coin dealering being executed by Gerry, Dan and Rich. It was also really cool meeting both Aaron and his dimes.

You might ask what a table assistant actually does during a show. Helpful hint, I’m going to discuss that right now even if you might not have asked. Since I am not familiar and have not been trained on GFRC operations, I do not do any buying or selling. I help with booth setup and shut down each day by staying the bleep out of Dan and Gerry’s way. They are like a well-oiled machine and any help I provide isn’t actually, um, helpful. So, for this show, I was simply an extra set of eyes and ears to show coins, talk to collectors, and run some errands as needed. Sort of like a utility player but without skills. It doesn’t sound like much, and it isn’t, yet it kept me surprisingly busy for big chunks of the show’s public hours.

The fun of being at a major coin show is the energy, the enthusiasm, and the shared “passion” for coins and for numismatics. The hobby and business have moved more and more online over time, but there’s still something special about being in a shared physical space. Not to downplay what the internet and online life has meant to the hobby, good and bad (mostly good), but I still recommend attending ANA, FUN or the Whitman Expos. The shows add something to the whole numismatic experience in addition to what one can experience online. The Daily Blog is a sincere, and successful, effort to bring some of that feel and shared space into the online world. There’s still something different about meeting in person that collectors should experience if they can.

One of the highlights of the show for me was Gerry hustling back to the GFRC booth from one of his excursions onto the floor. The unmistakable bounce in the step and the s**t eating grin were a giveaway. I was about to see something special. Gerry handed me an 1856 Small Date dime in PCGS MS66/CAC with the excitement of a kid on Christmas. The image of the coin is in the October 31 Daily Blog. Despite the miracle that is modern photography, I assure you that photos cannot do the coin justice. I will simply say that one does not need to be a dime specialist to appreciate a coin like this one that has it “all there.” The best part for me, though, was seeing Gerry Fortin the Passionate Collector drop into the GFRC Booth for some show and tell. Running a coin business is seriously hard work. Running a coin business at a major show is another level beyond that.  Gerry the businessman, Gerry the customer service rep., and Gerry the numismatic advisor spent a lot of time with us over the days of the show. It was nice to see and experience a reminder that there’s a Passionate Collector behind the business and all the hard work. And the coin really is some serious eye candy.

Thanks Greg! You are always welcomed at the GFRC Baltimore show tables....

 

Releasing Liberty Seated Dimes from the Fortin Core Collection

Now that the upgrade deal has been struck with Aaron Heintz, there are a fair number of core set duplicates that must find new homes. Let's just say that the eleven piece purchase was not inexpensive with a portion being funded by selling the freshly established duplicates.

Following are the first four duplicates that will reach the 30 Day Price List today. I'll be completely transparent on the 1837 Small Date PCGS MS65 CAC duplicate dime. I can't bring myself to sell that one just yet.

There are significant pieces in this gallery. The 1838-O dime has never been to auction. Rather is was purchased in the early 1990s in an ICG MS65 holder and cross into a PCGS Gen 4.0 holder at the MS64 level. This is one of my favorite dimes but the Newtown (ex. Gardner) PCGS MS65 CAC simply has more luster and a stronger strike that I could not resist. The 1842 brings richly toned surfaces and background frosted luster. Then there is the 1858-S dime. This piece was purchased from Jim O'Donnell during the mid-1990s and sadly was not CAC approved during the 2013 collection submission. This date is a bear at the AU55 grade but still "affordable" based on the price guides. Finally, I'm letting my 1853 No Arrows PCGS MS66 CAC dime go after a lateral upgrade. This is another dime that has been in the collection since the early 1990s with no auction records. The 1838-O, 1858-S, and 1853 No Arrows are 100% fresh to the market.

If my day goes as planned, these four dimes will reach the price list during the afternoon hours. If wishing to have first shot, please email me promptly.

Fortin Core Collection Offerings - Newly Upgraded

Loading to Price List Today - Please Email for First Shot

  1838-O F-101 PCGS MS64 CAC 10C                                              1842 F-107 PCGS MS66 CAC 10C

    

               1858-S F-101 PCGS AU55 10C                                      1853 No Arrows F-101 PCGS MS66 CAC 10C

    

 

Global Financial News

We start the financial day with two events. First, the anticipated red wave did not materialize. There is speculation that younger voters turned out in force towards the blue side of the aisle. Secondly, the crypto market is struggling with Bitcoin dropping overnight to $17,679. Following is a Seeking Alpha article that explains the workings of the crypto market.

The crypto world was rocked yesterday as one of the biggest names in the biz agreed to buy its rival. While Binance is still doing its due diligence for FTX.com, the deal would be more of a bailout even if it goes through. There are still a load of questions swirling around, but the shockwaves from the event sent Bitcoin  down by more than 10% to the $17,000 level and will likely have more consequences in the weeks and months to come. What happened? Valued at $32B back in January, Sam Bankman-Fried's FTX received funding from the likes of BlackRock, SoftBank, Temasek, Tiger Global and the Ontario Teachers' Pension Plan. However, under the surface, recent questions swirled about the balance sheet of sister trading house Alameda Research, resulting in an FTX liquidity crunch as customers pulled $6B worth of withdrawals over the past 72 hours. It's a stunning reversal of fortunes for one of the most popular exchanges in the industry, given the fact that FTX and Alameda bailed out several crypto players themselves this past summer, including BlockFi, Voyager Digital and Celsius.

U.S. equity market futures are flat after marginal gains on Tuesday.

In Asia, Japan -0.6%. Hong Kong -1.2%. China -0.5%. India -0.3%.
In Europe, at midday, London -0.1%. Paris -0.2%. Frankfurt -0.5%.
Futures at 6:30, Dow -0.2%. S&P flat. NASDAQ +0.1%.

WTI crude has moved below the $90/bbl level and is quoting at $88.41. Hopefully spot gold pricing can hold the $1700 level this time around. The morning quote is $1713. Finally, the 10 Year U.S. Treasury bond yield stands at 4.13%.

 

Wrapping Up The Blog

Progress is being made with consignment image processing. Blog readers can expect several consignment galleries to be posted in tomorrow's edition. A fair portion will be lower priced coins that should appeal to a brought range of collectors.

GFRC orders continue to be robust with the shipping department being fully employed this morning.

I hope that you've enjoyed today's edition. A thanks goes out to Greg Johnson for today's guest blog. These certainly take the pressure off of me for content creation.

Thanks again for stopping by. Be well!

 

 

 

 

Tuesday November 8, 2022

Challenges with Solving Buddy's Health Issues

Southeastern Sky Satellites

and

Another Round of CAC Approved Whitman Baltimore New Purchases

 

Greeting on Election Day 2022 and welcome to the Daily Blog. Thanks as always for making the Blog an online destination.

Temperature cycling best describes the dramatic change in southern Maine weather as we start a Tuesday. The past weekend and Monday has seen unseasonably warm daily highs in the mid-70s. Yesterday was so warm that a t-shirt and shorts were necessary along with opening the office windows. All has quickly changed as today's high will only be 50F and heading below freezing during the overnight hours.

The GFRC office is a beehive of activities as we managed to ship a portion of the Newtown auction sale lots on Monday and will continue down that path today. Regular price list orders are arriving at a healthy pace too.

 

Challenges with Solving Buddy's Health Issues

As mentioned often in the Blog, Diane is Buddy's angel as she works overtime to diagnose and resolve his recent health issues. She returned yesterday afternoon from the Portland emergency clinic and had to let out. Buddy spent the night at the clinic and received a thorough sonogram check of his internal organs as he is struggling to eat. The lead veterinarian discovered stomach and pancreas inflation which explains the digestive track problems. Buddy was prescribed special dog food in the hope that this will restore his appetite.

While driving back from Portland, Diane receives a phone call from the Oxford vet with the MSU testing results for Lyme disease. The good news is that Buddy was negative for Lyme while the bad news is that he tested positive for Rocky Mountain Spotted Fever (RMSF). A quick online check of the Maine Center for Disease Control portal brought information that RMSF is another tick borne bacteria which is rare in Maine. Most cases have been traced to origination in other states.

Diane's next step was to consult with the Oxford and Portland vets to discuss the two different diagnoses. The Oxford vet is cautious about starting antibiotic treatment given Buddy's problematic digestive track. Next came a consultation session with Renee in Austin for her perspective. She echoed the Oxford vet suggestion to have Buddy eating at some regular frequency before hitting him with strong antibiotics. Of course, we are also facing a timing issue with the Florida migration arriving in 10 days.

Stay tuned for future Buddy updates. As of this morning, he is moving around with limited energy.

 

Southeastern Sky Satellites

Now that Daylight Savings Time is behind us, dusk arrives at about 4:30 PM. Given yesterday's warm temperature, I could not resist heading to the back deck for an adult beverage after 5:00 PM even if it meant sitting in the dark. A full moon and the International Space Station (ISS) in the southeast sky over the coastal horizon brought quiet entertainment. Each moved from left to right at their individual orbiting speeds. Why not attempt a cellphone image of the dual satellites for the Daily Blog came to mind. Here is that snapshot of yesterday's back deck view with the ISS easily seen at the upper right. The orange is a radio tower.

 

Another Round of CAC Approved Whitman Baltimore New Purchases

As mentioned previously, Dan and I were active buyers at the Whitman Baltimore show. Expanding the U.S. collector gold inventory has been an ongoing priority.

Today brings another round of GFRC new purchases for your consideration. We open the showcase with a rare 1859-S NGC AU55 CAC $5 lot that should garner attention. Mintage is 13,200 with PCGS Price Guide indicating that less than 100 are known. The CAC population report has eleven approved in all grades with just three finer. The orange-gold coloration is certainly pleasing.

The display continues with an important 1890 NGC AU58 CAC $5 gold piece with a tiny mintage of 4,240. The Philadelphia Mint was consumed with striking Liberty Seated dimes and Morgan dollars leading to a minimal amount of half eagle gold struck. The 1902-S and 1915-S $5 are incremental lots to consider given their CAC approval.

Moving onto silver coinage, a nicely original 1858-S dime rounds out the top marquee pieces followed by more early type coinage. The 1868 proof dime is from the all important Pittman Collection, one of the finest old time pedigrees other than Eliasberg.

All are immediately available and priced as marked.

Another Round of CAC Approved Whitman Baltimore New Purchases

Priced as Marked

1859-S NGC AU55 CAC G$5 - Rare Date - $12500

       1890 NGC AU58 CAC G$5 - $3750                                            1902-S PCGS MS65+ CAC G$5 - $3800

    

    1915-S NGC AU58 CAC G$5 - $2350                                       1858-S F-103 PCGS EF40 10C - $1975

    

     1853 PCGS MS65 CAC 3CS - $800              1837 LD PCGS VF35 CAC 10C - $550            1860-S PCGS EF45 CAC 10C - $1100  

                      

 1868 NGC PF64 CAC 10C - $975                  1883 NGC PF64 CAC 25C - $1325

           

 

Global Financial News

Election day start with the S&P 500 at 3,806. Morning market futures are flat as traders await the outcome of today's Senate and House of Representatives elections. Political gridlock is forthcoming and it will be seen shortly how traders react to this environment.

In Asia, Japan +1.3%. Hong Kong -0.2%. China -0.4%. India closed.

In Europe, at midday, London -0.1%. Paris -0.1%. Frankfurt +0.3%.

Futures at 6:30, Dow +0.1%. S&P +0.1%. NASDAQ +0.3%.

WTI crude pricing has dropped to $90.59 and days of steady increases. Spot gold is trading at $1675/oz while Bitcoin has dropped 5% to $19,673.

The 10 Year U.S. Treasury bond yield stands at 4.2%.

 

Wrapping Up The Blog

Southern Maine will experience brisk winds and cold temperatures during the next 48 hours provide little incentive to work outdoors. Rather, you will find me in the GFRC office during that time other than a dentist appointment and today's voting.

A huge for purchase lot arrived in yesterday's mail that will keep me busy for hours unpacking and loading into the COIN system before pricing determination can be made. Boredom is not an issue at GFRC.

Please check back tomorrow, as an important announcement is forthcoming....

Thanks again for stopping by. Be well!

 

 

 

Monday November 7, 2022

We Need Your Understanding...

"I can't go for that"

Venice Florida Transition Schedule for Check Payments

and

Black Friday Sale Discounting Inputs

 

Greetings on a pre-election day 2022 and welcome to the Daily Blog. Thank-you for checking in.

 

We Need Your Understanding...

Let's be forthright here. Diane and I are a tad tired and worn out. We need your understanding if GFRC service is not 100% top notch.

Buddy continues to be quite ill and spent the night in an emergency care facility. Yesterday morning, he was panting excessively with his eyes larger than normal. The poor dog looked sick leading to Diane spending much of the day at a local animal emergency facility. She returned mid-afternoon and feel asleep on the couch before working the evening hours kitting the Newtown auction winning lots into USPS shipping packages.

My day was fully consumed with GFRC Online Auctions workload including a summary Blog edition, loading sales in the COIN database, generating invoices, along with updating the 30 Day Price List and Collectors corner. By 5:00 PM, I had worked another 12 hour day and was mentally tired but cooked dinner while Diane recharged her batteries. There had been no health walk on the trails which I much enjoy. Diane recovered her energy and worked the evening shift while I went to bed early so as to be ready for today's Blog composition.

Diane is off this morning to the emergency facility to retrieve Buddy. Hopefully, the overnight hydration attempt and close monitoring will have a positive impact while we await the Lyme disease results from MSU. This leaves me flying solo with regular and Newtown courtesy ship aheads. There is only so much that I can do while accurately processing shipments until a 2:30 PM Raymond post office drop-off. Responses for special requests and needs will be delayed until Tuesday. Oh, I also have a dentist appointment on Tuesday and plan to vote.

Speaking of tomorrow's mid-term elections, Seth Godin has hit a grand slam concerning what is at stake for the American citizenry. Call it bracket creep or being slowly pushed into more and more extreme views. Godin challenges us to check where we are politically and if we planned to arrive at this point on our own. Or are we being coerced by omni-powerful entities that provide "information"? Only you can decide how far we have come and is it appropriate for the next generation that is currently experiencing childhood in confusing times.

 

Seth Godin Blogpost - "I can't go for that"

No can do.

We drift.

Our standards aren’t set in stone. They change over time, often based on the situation we’re in.

This explains how cults or extreme views occur. Not all at once, but bit by bit.

Until one day, people wake up and are shocked to discover that they’re advocating for (or doing something) that is clearly wrong. It didn’t make them uncomfortable yesterday, but the reality of what’s being done is so different from the person we’d like to be that a break occurs.

The question is: If no one else was doing this, arguing for it, insisting on it–would we? Is it something you felt strongly about before the tribe and its leader took it on?

We can avoid this by staying away from institutions that profit from pushing participants further than they’d want to go on their own. If the heroes are extremists (in any sense of that word) don’t be surprised if participants are pushed to be so as well. And even more powerfully, we can remind ourselves of our first principles, about what matters more than winning or being popular.

Standing for something is a good way to avoid having someone stand on you.

Amen to that.....

 

Florida Transition Planning

The southern migration to Venice Florida winter home is coming much too quickly given the current workload. Unfortunately, I'm unable to lengthen the calendar and must balance workload against the remaining days in Maine.

Critical is the management of check payment for orders that begin this coming week. USPS first class mail has a wide sigma ie. some letters arrive in three days while others will take a week or more. Having check payments caught in the USPS forwarding loop will further increase delivery times and the expected "have you received my payment yet" email inquiries.

Following is a final schedule for clients sending check payments via first class USPS letter. Please note the schedule carefully to avoid being captured by the USPS forwarding mechanism. Let's work together to minimize this risk.

- Final Day for Mailing Payment to Maine address - November 12 (this coming Saturday)

- GFRC Changes Mailing Address on Website and Collectors Corner - November 16

- GFRC Payment Mailing Quiet Period - November 14 - 18 (Please note this is a full week of no payments being mailed)

- GFRC Florida Migration - November 18 - 20

- First Day for Mailing Payment to Florida Address - November 19

 

Black Friday Sale Discounting Inputs

Emails inquiries are starting to appear concerning the Black Friday Sale.

The Black Friday Sale will open Thanksgiving day midnight and last until Sunday, November 27 at 9:00 PM. To participate in the Black Friday Sale, consignors must discount their coins a minimum of 8%. Larger discounts typically equate to a higher sale probability.

I will be loading discounting instructions into the COIN database starting on November 22 and on November 23. Please remember that November 21 will be dedicated to restarting the Venice GFRC office and visiting the Venice Island post office to restart mail delivery. Since we are snowbirds and part time residents, the Raymond post office will stop delivery to the 502 Auburn Lakes Circle address until paper notice is provided to our carrier. To speed up the process, I will visit the post office directly and hand-over the document.

If wishing to participate in the Black Friday Sale, please send the discounting instructions with a clear "Black Friday Sale Discounting" in the subject line. Discounting instructions provided as part of regular email correspondence (and without appropriate subject line) will likely be missed given ongoing workload. If you don't hear back from me concerning these instructional emails, that is be design. These emails will accumulate in my Inbox and will be processed starting on November 22. Once the discounting instructions are loaded on November 22-23, a confirmation email will be sent to all participants.

 

Global Financial News

Equity markets are poised for a reasonably strong open this morning as the political landscape appears to show Republican take-over of both the House and Senate come tomorrow. Energy costs and inflation are about as bread and butter an issue that I've seen in years.

Apple has made it official that iPhone shipments out of China will be delayed due to the mainland's Zero Covid policy. Workers in iPhone city (Zhengzhou) are departing due to living conditions resulting from strict CCP control of movement. This will impact Apple earnings and the NASDAQ in the coming months.

Here are morning market futures.

In Asia, Japan +1.2%. Hong Kong +2.7%. China +0.2%. India +0.5%.
In Europe, at midday, London -0.3%. Paris flat. Frankfurt +0.8%.
Futures at 6:30, Dow +0.6%. S&P +0.6%. NASDAQ +0.7%.

The release of crude oil from the Strategic Petroleum Reserve appears to have had limited impact as WTI crude oil prices continue to climb. The morning quote is now up to $92.55/bbl.

Spot gold is also on the move at $1681/oz while Bitcoin is fractionally higher at $20,753.

The 10 Year U.S. Treasury bond yield stands at 4.15%.

 

Wrapping Up The Blog

As usual, I've rambled on for too long and need to shift gears. A quick walk on the back trails would be prudent to maintain joints before sitting in the GFRC office for another day.

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

 

 

 

Sunday November 6, 2022

Newtown Liberty Seated Dime Collection Auction Sale

Strong Session 1 Results!

and

First Round of Whitman Baltimore New Purchases

 

Greetings and welcome to the Daily Blog on a Sunday morning. As always, thanks for stopping by.

With Daylight Savings Time behind us, I hope that everyone made good use of the extra hour in a day. My extra hour was shared between a tad more sleep and processing images during the early morning hours. Having dawn arriving at 6:00 AM certainly helps with mental acuity when composing the Blog. Yes, we will pay for the earlier dawn with dusk appearing at 4:00 PM here at the northern latitudes.

Assuredly, Blog readers will be checking in this morning for a Newtown Liberty Seated Dime auction sale summary. So without much hesitation, let's move on to Session 1 results.

 

 

Newtown Liberty Seated Dime Collection Auction Sales - Results Beyond GFRC Forecast

Saturday brought consistent bidding for the Newtown Session 1 event. Actually, I was surprised to see bidding ramping up early at noon hour and continuing at a steady pace through the closing minutes. There were some surprises to be had as several unexpected lots sold during the afternoon hours. The 1872-S PCGS MS64 CAC dime is an example. I was disappointed that the 1873-CC dime did not sell but not worried as it will find a new home once posted on Collectors Corner.

Yesterday afternoon brought more leaf raking and loading/transporting five more Johnny2 loads of stone from the Dodson rock pile. As a result, I was tired come early evening and went to bed before the auction finale. The early afternoon bidding had been strong and nearly meeting yesterday's prediction. The finale would seal the deal and lead to results beyond the forecast. That it did while I was sound asleep.

The Newtown Session 1 auction sale resulted in 29 lots sold with $143,000 in winning bids. These results were a tad stronger than yesterday's prediction of 27 lots and $125,000 in total bids.

Many of the multiple bid lots are illustrated next. Let's remember that the GFRC Online Auctions platform was primarily designed and implemented for providing everyone an equal shot at the most desirable lots in a collection. This was the case for the Newtown Session 1 sale with rarity and eye appealing lots receiving multiple bids. The 1844 PCGS AU50 dime is no surprise as it sold well above its $2750 reserve. My former core set 1856-S dime also did well with a realized price of $17250. I remember advising Aaron Heintz to purchase the 1860-O dime when first listed on the GFRC price list even though the eye appeal was not great. 1860-O dimes are infrequently found 100% original as this piece is. Others agreed and bid the lot to $5060.

The 1866-S PCGS MS63 CAC dime is a very sweet example that brought a final price of $12017. The lone Gold CAC piece in Session 1 saw much attention and closed at $1156. Finally, the old album toned 1885-S PCGS EF40 CAC dime sold for just under $5000.

Multiple Bid Newtown Seated Dime Lots

  1844 PCGS AU50 CAC - Realized $3276                                  1856-S PCGS MS62 CAC - Realized $17250

    

    1860-O PCGS VF35 CAC - Realized $5060                               1866-S PCGS MS63 CAC - Realized $12017

    

1875-S BW Micro S PCGS MS64 Gold CAC - Realized $1156                 1885-S PCGS EF40 CAC - Realized $4957                 

    

 

Yes, I was surprised that the 1874-CC dime did not secure a second bid. Congratulations to the initial bidder for winning this key date at the reserve price.

Today brings the usual post-auction administration including updates to the COIN database, invoice generation, and moving the unsold lots to the GFRC price list and Collectors Corner. Between the Session 1 results and expected post-auction sales, I believe that Aaron Heintz is well on his way towards raising capital for his other Seated coinage pursuits.

The second Newtown Liberty Seated Dime Auction Sale session will take place starting on January 21, 2023. The remaining Newtown dimes will be exhibited at the Winter FUN show in a single case for those who wish to have a close inspection before bidding.

 

First Round of Whitman Baltimore New Purchases

As mentioned is prior Blog editions, Dan and I were steady buyers at the Whitman Baltimore when the right coins were offered. Eye appeal, strict originality, and competitive pricing were the primary considerations for each purchase. Following is the first release of Baltimore show new purchases. Each was carefully selected towards sustaining the march to a premium GFRC inventory going into the Winter FUN show. Let's see how many of these will sell before that event.....

First Round of Whitman Baltimore New Purchases

Priced as Marked

1839 Silly Head PCGS MS63BN CAC 1C - $1925                                1841 PCGS MS65 CAC H10C - $1300         

    

1815 B-1 NGC VF20 CAC 25C - $1025                                             1867 PCGS AU58 25C - $3000    

    

1913-S PCGS VG10 CAC 25C - $4150                                         1830 O-122 PCGS MS62 50C - $1425

    

 

Wrapping Up The Blog

You guessed it. Today brings yet another busy day with post-auction closure activities and a trip to Lowes for more pre-mixed 50:1 gas for the leaf blower. Driveway markers (for winter snow plowing) and an air compressor are incremental shopping items.

My sincere thanks to everyone who made the Newtown Session1 auction a success along with the ongoing price list purchases.

Be well!

 

 

 

Saturday November 5, 2022

Newtown Liberty Seated Dime Collection Auction Bidding Finale - 8:00 to 9:00 PM

and

Upgrading the Spring Pond Spillway

 

Greetings on an unseasonably warm early Saturday morning and welcome to the Daily Blog. Thank-you for checking in.

Yes, the 6:00 AM temperature here in Raymond is 55F with a forecasted high of 71 degrees during mid-afternoon. The warm temperature has been ideal for blowing and raking leaves along with other homestead closure projects before heading to Florida in just two weeks.

Friday brought four hours of outdoor activities including beefing up the spring pond spillway for spring season run-off and yes, cleaning up an endless coating of leaves. The Honda gas generator was moved from the barn back to the homestead with Johnny2 and a chain tied to the front loader.

Otherwise, Friday was pretty much a routine office day with several orders.

I'm pleased (and relieved) to report that the error messages, on the GFRC Online Auction catalog page, have been resolved thanks to consultation with Matt Yamatin. Matt read the HTML code and suspected a bar code input error for one of the Newtown lots featured in the online bidding table. Sure enough, the COIN database had a bad bar code string for one of the January 21, 2023 lots that was an errant key stroke on my part. The proper bar code was inserted with the errors messages promptly disappearing.

Please remember that Daylight Savings Time ends this evening and clocks must fall back one hour. The extra hour of sleep will be great. Or will it be an extra hour to compose Sunday morning's Blog summary of the Newtown auction sale?

Enough of a preamble! Let's move to today's important content.

 

Newtown Liberty Seated Dime Collection Auction Bidding Finale - 8:00 to 9:00 PM

After months of preparations and an auction week of considerations, the first Newtown Liberty Seated Dime Collection auction session closes this evening at 9:00 PM. Please remember that all GFRC auctions feature a hard close with bidding for the entire auction closing at the same time.

So where does the Newtown Session 1 auction stand as of this morning? Several bids arrived late on Friday leading to the following revised tally.

Number of lots meeting reserve - 15 versus 60 offered lots

Total bid value - $89,500 versus $265,000 total reserves

What should be apparent is that the many of the Newtown key dates have secured bids while the "common" dates are mostly quiet. The 1874-CC dime leads the pack with a single $18,500 bid for the time being. Will this number hold up during the finale? It is doubtful if one checks the CAC population report and CDN pricing guide. CAC has approved 14 examples in all graded with 4 at the VG10 level. The issue is that the next approved grade is VF25 with a guide price at $28,800. There is a $10,000 gap between VG10 and VF25 leaving some bidding upside. The Newtown specimen is an unquestionable gem at grade and is worth more than the CDN guide number. My prediction is that this piece will cross through the $20,000 bid level during the auction finale as the 1874-CC dime date is one of the best investment opportunities in numismatics.

Here is the Newtown 1874-CC for your consideration. Note that six letters in LIBERTY are present along with sharply defined and raised rims. The natural coin gray toning speaks volumes concerning the originality. Surfaces are essentially unabraded given the amount of time in circulation. This lot is a true prize with the winning bidder assured to be pleased with the purchase.

1874-CC PCGS VG10 CAC 10C - Gem Original

 

During the Newtown auction week, I've highlighted many unattached lots that should be acquired by knowledgeable numismatists. The Liberty Seated dime series presents considerable value in today's aggressively pursued Liberty Seated coinage market. Seated halves are on fire and difficult to stock, especially with CAC approval. Seated quarters are essentially unavailable unless a collector decide to sell holdings. Seated dimes have not been assertively pursued as compared to the quarters and halves and currently present a value opportunity. The key question is which dates in the series provide the best value? To answer that question, simply check the CAC population reports to arrive at your judgment.

Since spending much of an adult life studying the Liberty Seated dime series, I could write for an hour on the undervalued lots in this sale. Unfortunately, there is insufficient time to prepare a long essay. Rather, I will leave it to the GFRC community to decide for themselves during the closing hour of the Newtown auction.

So get ready for 8:00 PM and the hourly long auction closing finale. As is tradition, let's venture a forecast on how the Newtown Session 1 auction will close at 9:00 PM. Based on client conversations and the number of new individuals who have registered to bid, I see the auction closing as follows:

Number of sold lots - 27

Total bids - $125,000

Yes, the number of sold lots is a step function jump from this morning's status. Hopefully my assessment will be correct as I am the one person who has the background insights.

Good luck to everyone in the community that has been patiently awaiting the Newtown Session 1 finale. Please check back on Sunday morning for an auction summary.

 

Upgrading the Spring Pond Spillway

With the Fortins transitioning to Florida before Thanksgiving, one of my worries was the size and robustness of the spring pond's spillway to handle the early spring snow melt and water flow volumes. There will be no one to check on the pond for five months including making refinements to the spillway. The last thing I desire is to return home in late April 2023 only to discover cavitation or worse, spillway washout.

On Friday afternoon, Johnny2 and I returned to the spring pond to substantially improve the spillway's robustness and ability to handle at least 3x the current water flow. Clay was dug with Johnny2's backhoe and employed to build mounds on both sides of the spillway. The center area was filled with 1.5" stone that facilitates the water flow and protects against trenching. This image captures the finished product.

 

Hopefully, the revised spillway has been over engineered and will be sufficient for the springtime runoff from a 20'x35' pond that is between 4' to 6" deep. This image was taken from below the spillway and should illustrate the effort in the context of the overall spring pond site.

 

Wrapping Up The Blog

It is amazing how quickly the 8:00 AM Blog publishing time arrives when rambling along.

Let's close out this edition and launch another GFRC business morning with at least six packages to be transported to the Raymond post office before noon time. The afternoon will find me raking yet more leaves between our homestead and the neighboring Dodson property.

Concerning this evening's Newtown auction finale, all I can say at this point is to bid often and strong!

Be well!

 

 

 

Friday November 4, 2022

Newtown Liberty Seated Dime Collection Auction Bidding Closes Tomorrow 9:00 PM

Error Messages at Top of Online Auction Catalog

and

More Quality New Purchases

 

Greetings and welcome to the Daily Blog on a Friday morning. Another day arrives with a host of must get done items. But first....

It is that time of year when Daylight Saving Time comes to an end. Clocks will fall back one hour which means that I can secure an extra hour of sleep on Saturday evening. The timing is perfect given that the Newtown Liberty Seated Dime Collection auction sale closes at 9:00 PM. Hopefully, there will be no more software application hiccups. More on that topic shortly.

Buddy the Dog is on meds while we await the MSU Lyme disease test. The meds, designed to reduce inflation and pain, are working as Buddy is able to walk around a tad but still cannot navigate stairs. The current challenge, for Diane, is having Buddy taking his meds. She has resorted to placing the pills in pieces of boiled chicken.

As mentioned in yesterday's Blog, another four hours were spent on leaf removal activities. Progress is being made with the front landscaping now nice and tidy. Next are oak tree areas near the settler's wall and the land adjacent to the Dodsons. The huge oaks and maples are certainly impressive and beautiful during the summer months. However, their autumn shedding increases annually leading to some daunting yard cleanup.

The post Baltimore show online order rate has been strong as new purchases are posted in the Blog and on the 30 Day Price List. Capped Bust halves have become the hottest product lines as several individuals are assembling the minimum 100 piece collection as the threshold for a Capped Bust Half Nut Club admission. One new client in California was complaining that all the new Draped and Capped Bust halves were selling too quickly via Daily Blog postings. Yes, those on the East Coast do have a time zone advantage with little that can be done.

 

Newtown Liberty Seated Dime Collection Auction Bidding Closes Tomorrow 9:00 PM

The Newtown auction sale has officially exited the contemplation period as of this morning. The lack of bids on Thursday was not surprising.

This auction is now in the GFRC community hands as I've done all possible to market Aaron's superb collection. Since many of the lots bring reserves in excess of $3000, a two month three payment lay-a-way is being offered to help those that need a little more time for making a substantial acquisition. Please don't ask for lay-a-way terms if you are financially capable. I'm aware of some individuals who have constant lay-a-ways across multiple dealers to freeze coins for a collection. Since transitioning to Florida before Thanksgiving, lay-a-way lots that have extended payment terms will be transported to Florida and shipped from the Venice office. I would much rather ship lots from the Maine office leading to less coins being transported 1500+ miles.

Good luck to everyone who is anticipating the auction's closing hour for placing their bids.

 

Error Messages at Top of Online Auction Catalog

Yes, I am well aware of the two error messages at the top of the online auction table. A request was made to Matt Yamatin yesterday afternoon after attempting to diagnose the problem myself. Those messages originate from a piece of code that only Matt is familiar with and best to have the expert study and correct the issue. Unfortunately, Matt is fully consumed with his Thermo-Fisher Scientific management position and has little energy at the end of long days to provide rapid technical support.

The error messages are appearing as part of the bid entry and calculation process based on my limited analysis. To ensure that the bidding process remains active and accurate, I placed several bids on lots with existing bids this morning followed by deleting those bids. All worked smoothly. From past experiences, I suspect that one of the last bids might have been submitted with a numerical string that the software did not like. Since the bids are stored in an array, one bid in an unacceptable format will cause the error messages to appear until the array is corrected.

If you are placing bids today and notice anything out of the ordinary with the process, please email me asap. If there is a subtle problem in the bidding process, the auction will be extended for another day or two once Matt diagnosis and corrects the source of the error messages. If all continues to work normally, the auction will conclude on Saturday at 9:00 PM per normal.

 

More Quality New Purchases

GFRC has a substantial amount of new purchases and consignments that are waiting for their day in the Daily blog spot light. Today brings another round of premium offerings geared for type collectors. Little needs to be said as the images accurately capture each offered item. All are priced as marked and will be sold on a first come first serve basis.

More Quality New Purchases

Priced as Marked

1883 No Cents PCGS PR64CAM CAC 5C - $600                         1883 With Cents PCGS PR65CAM 5C - $725 

    

1846 Tall Date PCGS AU55 CAC 50C - $995                                     1909 PCGS MS64 CAC 50C - $1550        

    

 1834 Plain 4 PCGS EF45 CAC G$5 - $1925                                     1847/7 PCGS AU50 CAC G$5 - $975    

    

 

Global Financial News

After several days of moderate loses, equity markets are positioned for some buying relief. Today brings the "jobs report" for non-farm payroll increases. Expectations are for a 200,000 report out. If the number is lower, this will be bullish for stocks as investors might expect a small Fed Funds interest increase in December. A strong report will be bearish with the current morning market futures optimism evaporating in a heartbeat. Let's remember that much trading is computer generation with preset algorithms.

It is becoming clearer that the mid-term election will be a big win for the Republicans. For those of us that have lived through a number of elections, the current polling numbers are consistently understated for Republicans. After being demonized by Biden and the liberal media, Republicans typically have little desire to respond to phone calling pollsters and are being under counted. The silent majority will speak next Tuesday.

Global futures are consistently positive other than Japan.

In Asia, Japan -1.7%. Hong Kong +5.4%. China +2.4%. India +0.2%.
In Europe, at midday, London +0.9%. Paris +1.6%. Frankfurt +1.3%.
Futures at 6:30, Dow +0.5%. S&P +0.7%. NASDAQ +0.8%.

WTI crude has moved back above the $90/bbl mark with a morning quote at $90.63. Spot gold has also moved upward to $1653/oz while Bitcoin remains in an eerily quiet trading range. The morning quote is $20,589.

The 10 Year bond yield is 4.14%.


Wrapping Up The Blog

Today brings an unseasonably warm southern Maine day which will be ideal for more afternoon leaf clean-up. The morning hours will find me in the GFRC office loading new purchases to the price list along with incremental consignment photography.

Thanks for stopping by. Be well!

 

 

 

Thursday November 3, 2022

Wrapping Up Newtown Liberty Seated Dime Collection Contemplation Period

NH Coin Expo New Purchases Showcase

and

A New Tenafly Collection Consignment

 

Greetings on a Thursday morning and welcome to the Daily Blog. As always, your patronage is appreciated.

Buddy the Dog is probably one of the most fortunate animals on the planet given his caring angel. Diane spent most of Wednesday at veterinarian offices in Raymond and Oxford Maine seeking a diagnosis for Buddy's feeble condition including a fever. The entire morning was spent at the Raymond office with blood work, heart check, Lyme disease check, and x-rays. The conclusion was that Buddy's internal organs were fine but he might have a dislocated shoulder. Diane promptly returned home and called the Oxford based vet who successfully repaired both of Buddy's back leg ACL issues. The doctor immediate agreed to see Buddy and off they went. The good news was that Buddy did not have a dislocated shoulder. The bad news is that this doctor was also unable to diagnose Buddy's condition with any certainty. However, he did relay to Diane that he recently saw another dog who had similar joint issues and lameness with a negative Lyme disease test via a local vet. The doctor suspected that Lyme disease was a strong possibility and sent blood work to Michigan State University where the testing is much more sophisticated. The outcome was a strong confirmation of Lyme disease. Therefore, Buddy's blood is already intransit to MSU for the same testing with results due early next week.

There is an incredible bond between Diane and Buddy....

While Diane was busy nursing Buddy, I remained in the GFRC office to focus on the rebuilding of the 30 Day Price List. Progress is slowing being made as previously photographed new purchases and consignments are first to be processed and posted.

 

Wrapping Up Newtown Liberty Seated Dime Collection Contemplation Period

Today brings the final day of the Newtown auction sale contemplation period. I'm thankful for several new bids that arrived on Wednesday towards helping the cause.

As of this morning, 12 of the 60 offered lots have bids totaling nearly $85,000. Progress is being made!

Friday and Saturday bidding is certain to be exciting as I suspect that the 1874-CC dime will sell at a higher level than the current $18,500 reserve bid. Let's remember that GFRC Online Auctions have no buyer's premium. What you bid is what is paid for a lot if successful come Saturday evening at 9:00 PM.

In yesterday's Blog, several of my favorite Newtown dimes were highlighted. Let's continue that discussion today.

Let's start with the Newtown 1858-O PCGS MS63 CAC lot. My advice is straightforward. Someone should immediate BUY IT NOW! This is a fantastic example of a challenging date in Mint State. Strike is nearly complete with only the upper two wreath leaves not fully defined. This piece excels under a bright light and is certain to please the new owner.

1858-O F-101 PCGS MS63 CAC 10C

 

When first reviewing the Newtown dimes, as potential upgrades for my core collection, this 1859-O example was in the running due to its brilliant frosted luster and hammered strike. The light reverse gold toning brings incremental charm. In the end, I decided to stick with my current example and forgo the (+) upgrade which means that someone in the community has a shot at this gem example.

1859-O F-104 PCGS MS65+ CAC 10C

 

This magnificent 1864 dime represent yet another exceptional gem from the Newtown consignment. Proof like fields radiate reflective luster that is more than pleasing. The toning is exquisite. This piece was sold into the Newtown Collection during 2018 via private transaction. There are no CoinFacts auction records to go by when attempting to assess value.

1864 F-102a PCGS MS66 CAC 10C

 

This 1873-CC With Arrows dime was previously from my personal collection and sold to Newtown. It has a long story.

Are readers aware that PCGS listed an 1873-CC No Arrows dime grade VF30 for years in their population reports? Of course, this was a labeling error as only one example is known in high grade Mint State. Well, this is the coin that PCGS messed up. I bought this piece in an incorrectly labeled No Arrows old green label holder and was amazed at the poor PCGS quality control. How could a leading TPG company allow such an obvious mistake to fester for years? Eventually, I wished to add this coin to my PCGS Set Registry but the dime was not accepted since being a "No Arrows". I finally relented and had PCGS fix the label and attribution. This dime HAS NOT been to CAC with bidders needing to consider this fact. It is obviously a candidate.

1873-CC With Arrows F-101 PCGS VF30 10C

 

 

NH Coin Expo New Purchases Showcase

As previously mentioned in the Blog, Dan and I were active buyers at the Manchester NH coin show. Following are six new purchases that were secured from other dealers during show setup or walked up to the GFRC table during the show. The 1884 NGC PF67 CAC 3 Cent Nickel is one heck of a sweet piece if seeking a proof type piece. Ditto for the 1831 LM-6 as the frosted luster is outstanding. The 1805 O-111 Draped Bust half exhibits notable circulated cameo eye appeal. Look for these offerings to post to the price list today.

NH Coin Expo New Purchases Showcase

Priced as Marked

        1884 NGC PF67 CAC 3CN - $1295                                       1831 LM-6 PCGS MS63 CAC H10C - $1385

    

1805 O-111 NGC F15 CAC 50C - $875                                               1846 NGC AU55 $1 - $1225          

    

              1849 NGC AU53 $1 - $1450                                             1883-CC PCGS MS65+PL CAC $1 - $1100 

    

 

A New Tenafly Collection Consignment

The following new Tenafly consignment arrived to the GFRC office while I was at the Baltimore show. All have been purchased from GFRC and will be posted to the price list once today's Blog edition is uploaded. The 1850 $5 gold piece brings a rare date offering that should garner some attention.

A New Tenafly Collection Consignment

Priced as Marked

1850 PCGS AU55 CAC G$5 - $2725

 1866-S F-101 PCGS VF35 CAC 10C - $835                                    1841-O DDO PCGS VF30 25C - $300    

    

 

Global Financial News

Wednesday's Federal Reserve interest rate increase arrived at the expected 0.75%. However, traders were seeking a less hawkish signal from Jerome Powell for the December time frame but Powell did not deliver. As a result, markets dropped with the S&P 500 down to 3,759. Gold also swooned with a morning quote of $1624.

Following are morning market futures for what they are worth.

In Asia, Japan closed. Hong Kong -3.1%. China -0.2%. India -0.1%.
In Europe, at midday, London -0.4%. Paris -0.7%. Frankfurt -0.9%.
Futures at 6:30, Dow -0.2%. S&P -0.3%. NASDAQ -0.4%.

Have you noticed that gas prices are increasing again? WTI crude is nearly back to $89/bbl this morning.

The 10 Year U.S. Treasury bond yield has jumped to 4.2%.

 

Wrapping Up The Blog

This has been a long Blog edition including running past the 8:00 AM publishing time. Therefore, let's wrap up quickly.

I will be in the office during the entire morning and heading out to blow leaves during the afternoon hours. The nightly oaks have finally given up most of their leaves with the final homestead property cleanup being warranted.

Thanks for visiting and please remember that every Newtown auction bid is sincerely appreciated. These wonderful Seated dime must find new homes.

Be well!

 

 

 

Wednesday November 2, 2022

Newtown Liberty Seated Dime Collection Auction Bidding - Contemplation Period

and

CAC Approved Liberty $2.5 Gold to Consider

 

Greetings and welcome to the Daily Blog on a Wednesday morning. I'm pleased that you could stop by.

Are we living in the November calendar month? Why in the world would I be asking such an obvious question. Sure, the date on the Dell laptop reads 11/2/2022.

Since GFRC coin photography is a critical step in recovering the 30 Day Price List, I routinely check the the 10 Day weather outlook for days forecasted to have cloudless skies and bright sunshine. What a shock this morning when the weather forecast indicates that Friday through Monday will bring daily highs in the low 70s along with mostly clear skies. These temperatures are well above the normal low 50 to high 40s range. Yes, come a week from today, southern Maine temps will return to seasonal levels with the wood stove operational until leaving for Florida.

Sadly, Buddy the Dog is feeling weak and frail during the past 36 hours. Our dear companion is unable to climb stairs on his own and is not interested in eating. This is a sudden change that has surprised Diane and me. If Buddy continues to exhibit ongoing weakness this morning, he is heading to the Raymond vet for blood work and an evaluation.

Tuesday afternoon brought four hours of leaf blowing on the back acreage trails. As beautiful as yesterday's trails image were, the leaves must be removed for safe walking. Wet leaves become very slippery leading to falls. This fact hit home on Monday when pivoting on wet leaves on the "connector" trail and losing balance. The fall was gentle but with my right knee being tweaked a bit. Fortunately, there was not serious impact other than some mild soreness. This fall was a call to action with the leaves needing to be removed.

Shifting to numismatics and the GFRC Online Auctions platform, communications are underway with Barbara Gregory, editor of the Centinel, the modernized publication for the Central States Numismatic Society. GFRC has committed a full page ad for the Centinel's Winter edition including paying the 15% premium to be features on the opening page of the issue. I'm excited with this opportunity to advertise in regional publications along with the Gobrecht Journal and the Journal of the Barber Coin Collectors' Society.

GFRC Online Auctions is seeking a major collection for the February/March 2023 time frame after the Newtown Liberty Seated Dime Collection Session 2 offering in mid-January. The second Newtown auction is ready to go and bringing an opportunity to hit the 2023 auction season on a high note. Please give me a call or send an email if interested in having a discussion on this topic. The Spring Whitman Baltimore show is early during 2023 and takes place during March 16-19. I'm open to hosting another auction lot display event with the consignor partaking in the lot viewing process.

 

Newtown Liberty Seated Dime Collection Auction Bidding - Contemplation Period

After robust initial bidding, the first Newtown Liberty Seated Dime auction event has moved into the contemplation period. No bids were recorded on Tuesday.

The contemplation period is always a disconcerting time frame for yours truly and the consignor. The lack of bidding can bring about mild anxieties as to how the overall auction will play out come Saturday evening. As mentioned to Aaron Heintz at the Baltimore show, the lack of bidding during the contemplation period is predictable. "Just trust the process and all will be fine" was the advice to Aaron. Come Friday and Saturday, the community will become riveted to this event with the usual final hour of snipe bidding.

There are a host of fantastic Seated dime lots that remain unattached but deserve to be placed into advanced type and date/mintmark collections. Following are several more pieces that have captured my eye.

Let's open this discussion with a beautifully original 1838 Small Stars dime. Most of the Small Stars seen exhibit soft frosted luster with the exception of a proof like example that still resides in my personal collection. The Newtown example is fully struck with a double die reverse and obverse die cracks. The $1400 reserve for a CAC approved specimen is a no-brainer in my book. Will someone please bid on this lovely lot?

1838 Small Stars F-101a PCGS MS62 CAC 10C

 

If "Big Boy" coins are your forte, this 1839-O F-104a should be an appealing possibility. GFRC previously sold this superbly toned dime during the Branch Mint Collection Sale with Newtown making the acquisition. CAC has approved three at the MS66 level with three finer. The variety is also significant as most likely the finest known F-104a with repunched mintmark and bold horizontal reverse die crack.

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

 

On the opposite end of the pricing spectrum is this gem 1847 F-101 dime with date overlapping onto the base. The F-101 die variety is part of the Top 100 Variety set and an excellent reason to take this piece home. Yes, this piece is not CAC approved as Aaron has not sent any of his 2015 onward purchases to CAC. This lot is all there and should be approved if a lack of a green bean is holding back a bid. This piece is an unquestionable gem for the grade. The $800 reserve is cheap as this date is much more difficult to locate choice than "the guides" will admit.

1847 F-101 PCGS AU55 10C

 

I can't believe that no one has bid on this fully original and nicely struck 1852-O dime. This is a popular date with a limited mintage of 430,000. 1852 brought the final year of silver arbitrage whereby New Orleans struck silver coinage was exported to Europe and melted. The 1852-O quarter and half dollar dates are much scarcer than their mintages would suggest while a portion of the dime production was probably also involved. I'm a big fan of this piece for its classic gray patina and overall presentation. The $1250 reserve is more than fair.

1852-O F-101 PCGS AU53 CAC 10C

 

I could go on and on with this presentation but let's save the incremental commentary for Thursday's Blog. Please consider being bold and placing a bid on any of the unattached Newtown dimes.

 

CAC Approved Liberty $2.5 Gold to Consider

Following is the promised $2.5 Liberty gold gallery for your consideration.

Already, several pieces are on hold if visiting the 30 Day Price List. The culprit? Yes, the husband and wife collecting team continue to read the Daily Blog while on an Atlantic Ocean cruise. I received a phone call from the team while out at sea. They requested a preview of the lots and made a spontaneous decision to purchase four pieces.

The marquee lots are still available and warrant attention. The 1847-C certified PCGS AU58 with CAC approval is all there for the grade including brilliant frosted luster. Mintage is only five approved at the certified grade. The 1840-O and 1861-S dates are important. The 1861-S Civil War era piece especially with no Mint State examples CAC approved and a total population of 20 pieces with a green bean. There are only two approved at the VF30 level with GFRC handling the other example during July of this year.

If incredible mint bloom is your cup of tea, then please consider the marvelous 1897 $2.5 gold piece. What luster and color!

CAC Approved Liberty $2.5 Gold to Consider

Priced as Marked

1847-C PCGS AU58 CAC G$2.5 - $6500

1840-O PCGS EF45 CAC G$2.5 - $2950                                     1861-S PCGS VF30 CAC G$2.5 - $2600

    

 1850 PCGS EF45 CAC G$2.5 - $800            1852 PCGS MS63 CAC G$2.5 - $1450             1854 NGC AU58 CAC G$2.5 - $900   

                      

 1867-S PCGS EF40 CAC G$2.5 - $1050              1897 PCGS MS63+ G$2.5 - $875        

            

Global Financial News

Another trading day starts with the S&P 500 positioned at 3,856. Today brings another 0.75% Federal Funds Rate increase with incremental damage to the housing sector. All eyes will be on Jerome Powell at 2:30 PM for a signal as to the Federal Reserve's forecast for the December time frame. Any hint of a reduction in interest rate increases will send the markets into rally mode. Won't that be nice for those of us with double digit 2022 investment losses.

The fools in Washington just can't come to grips with diesel prices that are now back to nearly $6/gallon. If wishing to make a dent in inflation, driving diesel fuel prices down to the same level as gasoline would be a substantial step. Diesel fuel is a key parameter for the United States economy. Why can't politicians see this and put in place the necessary incentives. Yes, I get it. Big Oil is the enemy of the green movement. Treating Big Oil as a partner during the green transition is just not politically viable for Democrats.

Morning market futures are flat and in a wait and see mode for the 2:30 Federal Reserve report out.

In Asia, Japan -0.1%. Hong Kong +2.4%. China +1.2%. India -0.4%.
In Europe, at midday, London -0.1%. Paris +0.3%. Frankfurt flat.
Futures at 6:30, Dow flat. S&P +0.1%. NASDAQ +0.2%.

WTI crude pricing continues to hang tough at $88/bbl while spot gold is flat at $1654/oz. Ditto for Bitcoin which is down fractionally at $20, 382.

The 10 Year U.S. Treasury bond yield has popped back up to 4.04%

 

Wrapping Up The Blog

There is nothing in today's shipping queue which means that I will be focused on writing descriptions for the balance of today's $2.5 gold offerings along with processing more images for another new purchases gallery for Thursday's Blog edition.

Another 40 piece new purchase lot is now in transit to the GFRC office. The consignment window is definitely closed but I am still buying for the upcoming Winter FUN 2023 event.

That is about all there is to share today. Thanks as always for stopping by. Be well!

 

 

 

 

Tuesday November 1, 2022

Relationships are More Important than Nickels & Dimes

Darn, A Halloween Power Outage

and

Leaves Down Trail and Pond Images

 

 

Greetings on the first day of November. Welcome to yet another Daily Blog edition.

Time is moving along much too quickly as the month of November is already upon us. In the matter of a few weeks, the GFRC office will be relocating to sunny Florida. Left behind will be seven months of back acreage trails and spring pond progress along with the completed barn (a shed for those who live in Texas). Honestly, I will miss the homestead and Johnny2. Yet on an alternate note, living in Florida will facilitate much more time for the GFRC business as the distractions will be gone.

The GFRC office has fully recovered from the Whitman Baltimore show with a substantial amount of shipping leaving the premises on Monday. Yesterday's featured Draped Bust 1802/1 and 1805 $5 gold pieces sold in the matter of hours along with an important 1823 Ugly 3 O-110a Capped Bust half graded PCGS AU55 with CAC approval. It was a smashing way to close out the October calendar month.

 

Relationships are More Important than Nickels & Dimes

A word or two is in order for those who have a need to be the world's most ardent price negotiators.

The numismatic hobby is fundamentally a relationship business as I've come to learn and enjoy. Individuals with the same passion can easily find common ground if operating on a win-win basis leading to long term relationships. Dan White and I have been close friends and business partners since 2015. We operate together as if a hand and glove when buying and selling at major shows. The GFRC relationship with my favorite wholesale dealer has also blossomed with both enjoying ever increasing success. Business relationships are cherished when everyone shares a common set of goals that enhances prosperity for all involved.

The same applies for relationships between coin dealers and their clients. Astute collectors enjoy having first shot at scarce numismatic items while dealers appreciate the ability to purchase new inventories knowing that a portion will be sold to the existing client base as fair prices.

This Blog topic is being posted in the hopes that a few individuals will recognize the importance of win-win relationships and moderate their nickel & dime attitude towards coin purchases. Sure, there are some collectors who see a coin's purchase price as the end all outcome with little comprehension of how they are viewed on a personal basis. There were several cases at the Whitman Baltimore show where considerable time was allocated to relatively new clients only to received a low ball offer on CAC approved type coins. Self awareness is important when dealing with those who have market expertise and work on a 10% operating margin. Making offers well below a dealer's purchase prices is a waste of everyone's time and a sure fire way to be excluded the next time an important coin appears.

Yesterday brought a back and forth email session with someone that was adamant that a coin would be purchased at GreySheet or close to that number. After several rounds, I stuck to an initial counter offer (pass/play) and the person walked. Hopefully, they will find an alternative dealer that will tolerate this type of shopping behavior. Yes, business is business as some would say. However, those that are solely focused on securing a rigorously negotiated low price will find themselves without the satisfaction of working with this reputable dealer in the future. Life is too short and, believe it or not, there are many in the hobby that feel as I do concerning win-win relationships.

Enough said....

 

Darn, A Halloween Power Outage

There was every intention to have a lovely $2.5 gold new purchases gallery ready for today's edition.

While grilling sausage yesterday at 6:00 PM, the power went out without warning. Here I was beyond dusk grilling meat without lighting. Luckily the meal turned out just fine as Diane and I enjoyed a candle light dinner for Halloween since the Honda generator was still by the barn. It was reported that a traffic accident took down a pole leading to roughly 2000 households without power for several hours. This event reinforced the fact that a Bluetti inverter and battery storage unit requires sourcing priority as the emergency generator needs to be returned to the homestead's power grid.

The event's casualty was today planned $2.5 U.S gold gallery which is now delayed until Wednesday's Blog. Since lacking fresh content, let's move on to the next topic as a backup plan.

 

Leaves Down Trail and Pond Images

The following images were taken this past weekend to document the end of another southern Maine foliage season. The trails are layered with a thick covering of maple, oak, and beech tree leaves that must be removed before leaving for Florida. I hope these images are enjoyed in lieu of the $2.5 U.S. gold gallery.

Opening the presentation is a view of the spring pond with chairs and the skimmer pole. How I love sitting in one of the chairs for a few minutes to take in the peace and tranquility of this location.

 

Second is the Civil War Hill trail with its thick leaf covering. Little else needs to be said....

 

Lastly is my second favorite location in the trails complex other than the spring pond. I remain in continued awe at the size of the agricultural stone walls that were built with wooden sleds and animal/human power. Just amazing.....

 

Global Financial News

The Xi Jinping led Communist government finds itself is a terrible box concerning the Zero Covid policy. Millions of Chinese citizens are being constantly tested with fears that lock downs can occur at a moment's notice. How can one do business in this environment? This Seeking Alpha article showcases how severe the Communist restrictions have become.

China's zero-COVID policy is on full display at Shanghai Disneyland, with visitors temporarily barred from leaving the resort until they were tested for coronavirus. The park was locked down after a single guest tested positive for an infection - a similar event that happened in late 2021 - and follows a two-month closure during Shanghai's lock down earlier this year. Anyone who visited Disneyland since Oct. 27 will need to test for COVID three times over three days, while its main theme park and attached shopping street will be shuttered until further notice to comply with virus curbs. Elsewhere: Some turmoil has erupted in the central city of Zhengzhou, particularly at the world's largest iPhone factory. Apple-supplier Foxconn employs about 200K people at the Zhengzhou complex, which includes dormitory accommodation for workers, but discontent has been growing following an outbreak and strict COVID controls. Foxconn said it has implemented "closed loop management," the official term for staff living at their workplace and having no outside contact, prompting thousands to flee, with some even scaling fences of the facility to escape. Sources told Reuters that production of the iPhone 14 could plunge by as much as 30% in November due to tightening COVID restrictions, with Foxconn working to boost production at another factory in Shenzhen to make up for the shortfall before the holiday season. Foxconn, which produces 70% of iPhones globally, also builds the device in India, but its Zhengzhou factory assembles most of its global output. Go deeper: Since the 20th National Party Congress last month, China's Communist Party has only doubled down on the draconian COVID measures, which seek to eliminate outbreaks as soon as they occur despite the economic cost. Leader Xi Jinping has touted the policy as "protecting the people’s health and safety to the greatest extent possible," while "encouraging achievements in both epidemic response and economic and social development."

Morning market futures are starting to indicate a growing optimism that the U.S. economy will be able to weather the current round of inflation and Federal Reserve interest rate hikes. Conversely, there are those who are forecasting a global liquidity crisis (lack of U.S. dollars as foreign reserves) come 2023.

In Asia, Japan +0.3%. Hong Kong +5.2%. China +2.6%. India +0.6%.
In Europe, at midday, London +1.6%. Paris +1.8%. Frankfurt +1.2%.
Futures at 6:30, Dow +0.6%. S&P +0.9%. NASDAQ +1.2%.

WTI crude oil prices remaining strong at nearly $88/bbl while spot gold has moved up a tad to $1654/oz. Bitcoin is flat at $20,631.

The 10 Year U.S. Treasury bond yield has dropped to 3.95% and one of the sources of optimism for equity prices.

 

Wrapping Up The Blog

So ends another Daily Blog edition with some spontaneous content. I hope that the visit was worthwhile.

Today brings another GFRC office day working on new purchase images and 30 Day Price List recovery.

Thanks for stopping by. Be well!

 

 

 

Monday October 31, 2022

Osprey Collection - Nice Treats, No Tricks!

Fortin Core Seated Dime Set Upgrades

Newtown Liberty Seated Dime Collection Auction Bidding - Status Report

and

GFRC Consignment Window is Closed Until December 1

 

Greetings from the GFRC Maine office and welcome to the Daily Blog on Halloween 2022. Thank you for making these ramblings a regular part of a day's online reading.

Another week starts with the GFRC office being almost back into operating order. Most important is that inventory has been re-organized by Diane including the labeling of all consignments with consignor ID tags.

Sunday brought an unseasonably warm late October day with clear skies. The photography table was moved to a downward sloped property area to increase lighting intensity for noon time photography. i was able to photograph today's images along with a strong lot of U.S. $2.5 gold and other recent new purchases. These images will fuel galleries for the Daily Blog, during the coming week, and the arduous process of rebuilding the 30 Day Price List.

Afterwards, nearly five hours were spent blowing leaves into larger piles and hauling these piles down to a spot adjacent to the burn pit behind the settler's stone wall. As the years pass, the maples and oaks continue to grow taller and broader. The result is an ever increasing amount of leaves to manage at the end of foliage season. Most of the front and side yard leaves were removed leaving about four more Polar cart loads to be loaded and transported at some point this week. Of course, there is still the backyard and the area adjacent to the Dodson property that requires cleaning. Let's also remember that the back acreage walking trails are also covered with beech, maple and oak leaves that can become slippery when wet. Blowing those leaves off the trail is yet another must get done task.

As a result of the Sunday afternoon property clean-up, Baltimore show sales were not loaded into the COIN database followed by a price list update. This task will take place today along with catching up on regular shipping. Unfortunately, there are just so many hours in a day.

 

Osprey Collection - Nice Treats, No Tricks!

There was no hype when reporting that Dan and I spent into the six figures at the Whitman Baltimore show. Following are three new purchases from the Osprey Collection that support this claim. We have been on a mission to continually increase the quality of GFRC inventory and capitalized on this goal when premium lots were offered to us.

Who does not love to see top end Draped Bust gold images in the Daily Blog? Today brings a pair of exceptional early $5 gold pieces, both certified PCGS AU58 with CAC approval. The below images accurately capture each piece's coloration and provides insights into surface luster. The 1802/1 is classic green-gold with steely fields while the 1805 presents brilliant frosted luster with orange honey-gold colors. These offerings belong in an advanced U.S. gold type set and are certain to be the pride and joy of the new owner.

Also purchased at Baltimore was the Tom Bender 1863-S Seated dime graded PCGS MS63 CAC. This piece sold too cheap at the Heritage Sale and was offered to GFRC. We could not resist adding this piece into inventory as who else should be handling this coin other than GFRC?

All three lots are priced and immediately available. If having an interest, please send along an email for a price quote. I hope to post these to the price list by end of day.

Osprey Collection - Baltimore New Purchases

1802/1 PCGS AU58 CAC G$5                                                       1805 PCGS AU58 CAC G$5

    

1863-S F-101 PCGS MS63 CAC 10C - Bender Pedigree 

 

Fortin Core Seated Dime Set Upgrades

My core Liberty Seated Dime collection, as posted in the Open Set Registry, will receive a strong upgrade this week when the following three new purchases are added.

Let's open the presentation with an awesome high end Mint State 1856 Small Date dime that has been elusive for several decades. Sure, the price guides treat the 1856 Small Date as a "common" coin. However, the situation changes when pursuing Mint State examples in MS65 or better. This date is routinely found unevenly struck and with white frosted surfaces. My current example is only an MS64 CAC. I had planned to purchase the Newtown PCGS MS65 CAC lot (Gardner pedigree) when this superb gem PCGS MS66 CAC specimen magically appeared on the market before the Baltimore show. This piece was delivered to the GFRC booth and a check immediately written. I was beyond thrilled to finally locate the "right" upgrade that perfectly matches my criteria of full strike, strict originality, and old time eye appeal. There are a few MS67s certified but at this point, this MS66 should be the final upgrade as I'm in love with this specimen.

1856 Small Date F-103 PCGS MS66 CAC 10C 

Now that Diane has returned back from a ten day visit to our Venice Florida condo, she was able to retrieve the two Tom Bender Seated dimes that were won at a recent Heritage auction. Heritage shipped these to Venice address (my mistake for not updating the online account) with FedEx dropping the box at our doorway and falsely executing my signature as proof of receipt while I remained in Maine. Luckily, the package was not stolen for six hours before an Auburn Lakes neighbor retrieved the package for safe keeping.

The 1869 F-105a is a delightful piece with granular frosted luster and faint proof like surfaces. Yes, I set a new auction record of $9,000 when purchasing this superb gem.

The 1888-S F-110a is a boldly struck example that went at a reasonable purchase price of $4,680 with only two finer (MS66+, MS67). The toning is typical of high end examples of the date.

  1869 F-105a PCGS MS67 CAC 10C                                           1888-S F-110 PCGS MS66 CAC 150C

    

 

Newtown Liberty Seated Dime Collection Auction Bidding - Status Report

Sunday brought three incremental bids for the Session 1 Newtown Liberty Seated Dime Collection auction sale. Those bids were appreciated and hopefully, the bidding momentum will continue today.

As of this morning, 11 of the 60 lots have met reserve with a total sale amount of $78,000. The initial bidding is certainly appreciated.

Unattached are a host of other great Liberty Seated dime lots. Following are four lots that worthy of a shout out this morning.

Let's open this Newtown auction gallery with the 1865 PCGS MS66 CAC dime that offers gorgeous toning and a complete strike. This dime originated from my collection as a duplicate and was sold into the Newtown Collection. The 1872-S date is a sleeper in the Seated dime series with few Mint State examples certified. An astute collector would be wise to put this piece away for the long term as undervalued. The 1878-CC F-101 is another exceptional lot purchased from Doug Winter. Surfaces are lightly proof like as most F-101 Type 1 reverse examples will be found. Finally, the 1882 F-104 dime is heavily frosted with brilliant luster. Strike is all there. This is a most pleasing example for not a lot of money.

1865 F-101a PCGS MS66 CAC 10C                                             1872-S F-101 PCGS MS64 CAC 150C

    

1878-CC F-101 PCGS MS66 CAC 10C                                           1882 F-104 PCGS MS66 CAC 150C

    

 

GFRC Consignment Window is Closed Until December 1

After assessing the amount of new purchases and recent consignments, it is best that GFRC closes its consignment window until after the Thanksgiving Black Friday Sale.

There is ample unprocessed inventory to keep me busy well into December. Let's not forget that there is a second complete set of Liberty Seated dimes, from Steven Vitale, that needs prompt attention along with only three weeks remaining prior to the Florida migration.

 

Global Financial News

Another equity market trading week is upon us with Big Oil reporting huge profits that did not sit well with the Biden administration and his Democrat party allies. Over in Europe, the termination of the Black Sea Grain Initiative by Russia will have serious impacts on the food supply for northern Africa and the Middle East.

In China, Hubei province (Jingzhou and Wuhan) are in Covid-19 lock downs.

Morning market futures are pointing to a weak open after a substantial rally during the last few trading sessions.

In Asia, Japan +1.8%. Hong Kong -1.2%. China +0.8%. India +1.4%.
In Europe, at midday, London +0.2%. Paris -0.2%. Frankfurt +0.1%.
Futures at 6:30, Dow -0.4%. S&P -0.5%. NASDAQ -0.6%.

As much as the Biden administration attempts to push down crude oil prices with ongoing releases from the Strategic Petroleum Reserve, WTI crude prices are holding steady. Today's quote is $87/bbl.

Spot gold continues to languish at $1642/oz but good luck attempting to make a physical purchase at that level. The premiums are substantial.

Bitcoin is holding it step function increase about the important $20,000 with a morning quote of $20,703.

The 10 Year U.S. Treasury bond yield is slowing receding with a quote of 4.07%.

 

Wrapping Up The Blog

I'm heading down to the spring pond for an early morning health walk followed by a full day in the GFRC office to finalize the Whitman Baltimore administrative tasks along restarting the shipping department.

Sunday's email and Collectors Corner orders will also be receiving morning time attention.

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

 

 

 

 

Sunday October 30, 2022

Whitman Baltimore Show Summary

Newtown Liberty Seated Dime Collection Auction Bidding - Opening Results

Aaron Heintz's Baltimore Experience

and

The New CAC Grading Holders and Second John Albanese YouTube Interview

Greetings from the GFRC Maine office and welcome to a long Daily Blog edition. The abundant content is compensation for the lack of ramblings during the Baltimore show. Thanks for stopping by.

Let's start this edition with a brief Whitman Baltimore show summary.

GFRC certainly went out of a limb with its innovative posture at the Baltimore show. This was the first time, to my knowledge, that an auction platform utlized a collection owner for hosting lot viewing of their own lots. How I wish that others in the business would consider the approach as our hobby is predicated on long term and committed collectors. Aaron Heintz enjoyed a wonderful learning experience exhibiting and sharing his cherished Liberty Seated dimes. I asked Aaron to document his experience for the GFRC community. His thoughts are forthcoming in this edition.

We also debuted the GFRC-Lite franchise for lower priced early type coins. Developing a franchise by utilizing the existing GFRC information technology infrastructure is also another innovation that solves a long term GFRC issue. It is impossible for me to handle the volumes that lower priced coins brings. Collectors enjoy the GFRC consignment experience and wished for a full service outlet for their collections. Many collections include raw and Details certified coins along with those with retail values under $300. Launching a franchise operation specifically for these coins, but utilizing the same COIN database and service attributes, is an attractive solution for our clients. At the Baltimore show, Rich Hundertmark went through COIN database training sessions along with ironing out details for the partnership strategy. When two individuals trust each other and share a common vision, small details can be worked out in parallel as the new venture is rolled out. Rich did well at the show along with taking over 200 consigned coins back home for processing. GFRC-Lite reporting and updates will be features in the Daily Blog as we are all one family under the GFRC umbrella.

Whitman Baltimore Saturday sales were decent during the first few hours. Come noon time, Dan and I were itching to pack up as Aaron Heintz had departed on Friday along with Rich making an early exist for his long drive to North Carolina. Breaking down the booth and packing eleven cases of coins was accomplished in record time as we were on the road by 1:00 PM. Traffic was suprisingly light allowing for an Essex, CT arrival at 6:00 PM. Rose Marie was thrilled to have Dan back home. I departed with a special sandwich custom made by Rose Marie along with two pieces of chocolate for the remaining drive to Maine. The Raymond arrival was at 10:15 PM with a need to check the opening bidding for the Newtown Collection auction sale. I was pleased with the initial number of coins that were promply sold. The question remains as who will be the winning bidder and how high will the winning bid be!

Overall, I am pleased with the "Winter" Whitman Baltimore show on a strategic GFRC expansion basis as all worked out as planned. Show sales were lower than the Manchester NH show for two reasons. Thursday's "yield" was low as customers appeared to have limited budgets. We showed many coins with some collectors being excessively selected (which is a sign that their buying power was limited). On Friday, the "yield" was strong for those that did attend the show. The issue was the show grinding to a complete halt at 1:00 PM. It was a "spooky" experience to witness an empty bourse floor.

 

Newtown Liberty Seated Dime Collection Auction Bidding - Opening Results

I'm pleased to report that multiple clients decided to take my advice and place their maximum bids during the first hours of the Newtown Liberty Seated Dime Collection auction sale.

The Session 1 event features 60 lots with a total reserve value of $278,000. There are many stellar pieces including the must have 1874-CC dime for many Seated dime collectors.

As of today's Blog composition, eight bids have been registered with a total sales value of $55,000. Yes, someone had bid on the 1874-CC dime along with the 1856-S, 1866-S, and 1869-S lots. These three San Francisco dimes were all part of my core collection at one point in time.

Remaining are 52 other lots that need to find a new home. One of the outstanding pieces is the 1841 PCGS MS66 CAC dime that is one of the three finest approved by CAC. I toyed with the idea of purchasing this dime from Aaron until retrieving my own collection from the bank. My specimen is a PCGS MS65 Gold CAC that I just can't let go.

Another exceptional offering is the 1844 PCGS AU50 CAC lot with tons of eye appeal and pristine surfaces. I'm certain that this piece will find a new home before the auction wraps up with a winning bid that will be much higher than the reserve. I could go on an on on the Newtown lots. More will be shared throughout the week.

1841 F-110a PCGS MS66 CAC 10C                                              1844 F-102 PCGS AU50 CAC 10C

    

 

Aaron Heintz's Baltimore Experience

On Thursday afternoon, I mentioned to Aaron that documenting his "collector" experience at the Whitman show would be valuable for others in the GFRC community. What was it like to sit behind a top end collection and personally conducting lot viewing at a major show? Most of us have been on the other side of the table at a major auction house's lot viewing. The room is dark with unknown people handling the auction lot boxes. It really is an impersonal experience as compared to sitting down with a collection's owner in the middle of a busy bourse floor.

Aaron was also privy to the operations of the GFRC booth from opening time to end of day spirits before closing down. Following are Aaron's unedited observations.

When Gerry first suggested that we display my Seated Dime collection at the Baltimore show I was a bit apprehensive. I am very proud of the collection and welcomed the opportunity to market it, but I wasn’t confident of my ability to speak intelligently about the coins and slightly intimidated by those collectors with much more experience than I. I don’t have the incredible memory of so many of the serious collectors who can recall specific details of each coin’s condition, history, condition census ranking, and provenance. I have developed my own evaluation criteria and feel like I have evolved a “look” that is worthy of purchase, but I have learned as I watch and discuss the meticulous evaluation style and criteria of some of the more respected collectors. I hope to continue that education as I continue my numismatic journey.

This was my first time behind the booth at a coin show. It was a great pleasure getting to spend two days with my collection. Too many of my coins were evaluated at purchase, viewed briefly, and filed away in a bank safe deposit box. I had rarely taken the time to evaluate the set as a complete collection, comparing the look of coins within the collection and evaluating each individual coin’s condition. It was a great experience in both considering the collection as a whole and comparing similarly graded coins. I am constantly trying to improve my grading skill and am not always confident of the difference between adjacent grades, but having so many of my dimes on display I was able to contrast and compare as the casual collector rarely can. I can see the evolution in my buying pattern over the years, not just in grade, but in strike, toning, and freedom of defects. Later purchases show a clear trend toward a more consistent look and make the full set display all the more attractive and pleasing. When I pulled a handful each of MS64’s and MS65’s, for example, I was able to refine my appreciation for the subtle differences. Doing so with another, more experienced collector enhances the experience immensely. For most of us, coin collecting is a primarily solitary hobby. Sharing it with others brings a refinement of skills and adds to the enjoyment.

The best part of the experience was communicating with so many of my fellow collectors. First, I can’t say enough about Gerry and his fine cohort of booth assistants. I’ve known Gerry for a while now and without him this collection would never have been possible. He’s helped me evolve as a collector from purchasing raw coins to fill my Dansco books to purchasing top pop examples of 19th century coins. Who better to work with on a Seated Dime collection than Mr. Seated Dime, himself? Gerry runs a smooth and professional booth operation. Dan, Rich, and Greg are all extremely intelligent, interesting, and fun to hang around with. They all gave me strong feedback about my collection in general and detailed thoughts on so many of the individual coins.

Gerry’s most dedicated customers are a charming and very experienced group. I was never so aware as over the past few days exactly who my “competition” was for premium Seated Dimes, and I believe I met a good share of those top collectors. Some of the most experienced and respected collectors had very glowing comments. The Baltimore sessions gave me a first-hand education in coin evaluation. I got to discuss subtleties in toning and originality, specific characteristics in strike and aging of particular dates, mintages, and die variations, and strengths and weaknesses as perceived by the different TPG outfits. Some collectors looked at one or two dimes they specifically came for, while others examined half the collection or more.

Some would spend a few seconds per coin side, while others took minutes to evaluate every detail. I was very impressed by the scrutiny and specific coin-by-coin feedback. The market does seem strong for, and interest was greatest for, those most premium cons. Those at or near the top pop garnered more than casual interest and am pleased to anticipate some competition at auction.

I couldn’t be happier with Gerry’s auction format. The marketing materials and web pages and the broad exposure through the Blog and trade show display are first class. I would strongly encourage other collectors to work with a guy like Gerry when it’s time to divest. If an auction is appropriate, it’s a winning formula. Beyond that, for anyone who’s never displayed their coins at a show, it’s an experience one shouldn’t miss. The feedback is great and the dialog is invaluable in one’s growth as a collector.

I have an immense feeling of pride and accomplishment in the fruits of my hobby and look forward to my next numismatic adventure. Thanks for the journey and privilege, Gerry!

 

The New CAC Grading Holders and Second John Albanese YouTube Interview

As promised in Thursday's Blog, here is an illustration of the new CAC Grading holders. The holder on the left is a legacy holder for those coins being crossed with an existing CAC green bean. The holder on the right is for regular grading. Yes, the new CAC holder will fit into existing PCGS "blue boxes".

While having breakfast at the laptop at 5:30 AM, I went to Youtube and discovered a second John Albanese interview video concerning the CAC Grading service. John answers a host of questions that have been posted to his message board.

I would strongly suggest that you take the time to view this entire video as no one is so forthcoming about the grading process and being collector centric as John Albanese.

John Albanese Second CAC Grading Interview

 

Wrapping Up The Blog

Let's close today's edition with a confession!

I am absolutely buried in quality new purchases and consignments that will roll out during the next six weeks. Today brings a Baltimore show recovery day along with the need to start raking a ton of leaves that are covering the homestead grounds. There are email inquiries to respond too, online orders, helping a client ship a 100 piece collection for purchase and on and on......

My plan is to slowly take each task one step at a time to return the GFRC office back to normal operations. If I don't quickly respond to your emails, please understand that I am buried with stuff to do and working through a long list of priorities.

Thank-you for checking in at the Daily Blog. I'm heading down to the back trails and will visit the spring pond on a cold Maine morning followed by a shower. Next will be bringing the office back into order followed by raking leaves during the afternoon hours.

Be well!

 

 

Saturday October 29, 2022

Newtown Liberty Seated Dime Collection Auction Bidding Opens at 9:00 PM

and

Whitman Baltimore - A Goldilocks Event

 

Greetings from the Whitman Baltimore bourse floor and welcome to the Daily Blog. Thank-you for checking in.

My apology for a lack of a Daily Blog edition on Friday as the bourse floor demands precluded time for quiet sitting at the laptop and composing thoughts.

The GFRC staff has just opened Booth 818 and are relaxing before the bourse opens at 10:00 AM. Of course, Dan and I are longing to head back to Connecticut and Maine followed by sleeping in our own beds tonight. Staying at the Hyatt Hotel was the right decision as more horror stories emerged from the Days Inn. Interestingly, there was a Fairy Convention at the Hyatt with attendees dressing up to the hilt for Halloween.

Last evening brought a lovely dinner, courtesy of our favorite wholesale dealer, at the Hyatt. The crab bisque and crab cakes were downright fantastic. The latter had no traces of filler, just two large lumps of flaky crab meat along with a tasty sweet potato mash. A good time was enjoyed by all.

Friday afternoon brought Aaron's departure after two busy days hosting his top end Liberty Seated Collection. We were certainly pleased with the number of collectors that spent time conducting auction lot viewing. The GFRC Online Auctions catalogs were also a hit with at least 25 finding their way into collector and some dealer hands.

Not mentioned previously is a special event that took place on Thursday. After searching for decades, I finally found the perfect 1856 Small Date Liberty Seated dime upgrade for the core collection. The piece is a incredibly original superb gem with uniform toning, glowing frosted luster and a complete strike. The PCGS MS66 CAC certification appears to be conservative. As a result, the Newtown 1856 Small Date dime (Gardner) will be released from purchase and will be offered in the second January 2023 auction session.

Finally, a CAC Grading email announcement arrived on Friday showcasing the newly designed CAC holders. Images will be presented in Sunday's Blog edition.

 

Newtown Liberty Seated Dime Collection Auction Bidding Opens at 9:00 PM

After a host of preparations and marketing, the first of two Newtown Liberty Seated Dime Collection auction session opens this evening at 9:00 PM for initial bidding. Much has been written about Aaron's collection at this point and I don't wish to be repetitious.

My numismatic advice is straightforward. When stellar collections arrive to market, collectors need to act with vigor to secure their targeted upgrades. Session 1 contains a host of beautiful Seated dimes that are certain to please the new owners.

I spoke with Aaron and he is open to three payment/60 day lay-a-way terms. Aaron understands that his dimes will be expensive for many collectors and wishes to see his coins migrating into other top end collections rather than being purchased by dealers. If you wish to take advantage of Aaron's generous offer, please contact me by next Thursday for confirmation that this lay-a-way offer will be utilized. Once the auction session next Saturday, I do not wish to be confronted with a lay-a-way request. It behooves bidders to be proactive on this matter.

 

Whitman Baltimore - A Goldilocks Event

Many inquisitive minds will probably ask how the Baltimore show has turned out. "Goldilocks" best comes to mind to describe the event that was not too hot and not too cold.

This show was average with a decent amount of retail sales to cover expenses and then some. Thursday brought an active day along with Friday morning. By Friday afternoon at 1:00 PM, the bourse just died and turned quiet as collectors headed early for the exit. The quiet time provided an opportunity for Aaron and I to spend quality time together chatting about our lives and passions outside of numismatics.

On a positive note, the GFRC-Lite debut when very well for Rich Hundertmark. He sold nearly $5000 in lower price coins and took in over 120 raw coins on consignment. This is on top of the second Dr. Glenn Peterson Liberty Seated Half Dollar Dansco that was given to Rich from GFRC HQ. That Dansco contains 106 halves. Therefore, walking out of the Baltimore show with about 225 coins to process before the early December Annandale show will keep Rich out of trouble for an extended period.

Rich and I also took time for a COIN system training session to enable his learning curve of the system's power.

Overall, I'm pleased with how the Whitman Baltimore show has turned out, but of course, wished for a larger amount of retail sales. The buying side of the equation was very strong with a host of new purchases heading to the price list in the coming weeks. The poor 30 Day Price List is presently on life support with few additions during the past two weeks simply due to back to back coin shows and Diane being away in Florida. Diane is now back home.

 

Wrapping Up The Blog

The bourse has just opened as the 10:00 AM mark is upon us. It is time to close these ramblings and start the final few hours at the Whitman Baltimore show.

Thanks again for stopping by and please check back tomorrow for images of the new CAC Grading holders.

Be well.

 

 

 

Thursday October 27, 2022

Its Whitman Baltimore Show Time

and

Meeting Aaron Heintz - The Newtown Collection

 

Greetings from Baltimore once again and welcome to the Daily Blog. Yes, this edition is later than normal as being written on the Whitman Baltimore bourse floor.

Indeed, the autumn Whitman Baltimore show is upon us. Booth 818 will be the home of GFRC, GFRC Online Auctions, and now GFRC-Lite through Saturday afternoon. The multi-function booth is open for business with your blogger taking a few moments to ramble before the early birds hit the floor at 10:00 AM.

What are the expectation for the show after a robust Manchester NH event? I'm optimistic for a strong event given the amount of premium early type and U.S. gold being offered. All of Tuesday and Wednesday new purchases have been loaded into the COIN system and priced. This incremental inventory is in the showcases and ready to be sold.

Wednesday's buying added another $20,000 to our purchase tally leading to a six figure buying event across two days. After spending that sum, it is certainly time to sell at the show.

 

Meeting Aaron Heintz - The Newtown Collection

Today brings a special day for Aaron Heintz, the Newtown Collection consignor who has been an active GFRC client since 2015. Aaron will be spending the next two days behind his remarkable Liberty Seated Dime collection and happily sharing his accomplishment with those who wish to view the individual lots. I asked Aaron if he had a message for the Blog readership. Aaron shared two points. First is being thrilled to exhibit his collection for the first time since its formation. The facilitated opportunity to share a long collecting journey in its entirety is priceless. The second point is that Aaron was excited to be reunited with his collection since surrendering nearly two months ago for photography, image processing and catalog construction. As the Blog is being composed, Aaron is hanging out at the GFRC Online Auction exhibit table and enjoying his cherished Seated dimes for the final time.

This image captures Aaron with a huge smile to kick off the lot viewing event. I hope that he is kept busy for two full days!

 

Wrapping Up The Blog

Let's end the Blog on at this point as I wish to spend one on one time with Aaron before the early birds arrive.

Thanks for checking in on a Thursday. Be well.

 

 

 

 

Wednesday October 26, 2022

Awesome Whitman Baltimore Pre-Show Buying

 

Greetings from Baltimore and welcome to another Daily Blog edition. Thank-you for staying abreast of my travels and the GFRC inventory.

First, let's extend an apology for the lack of a Daily Blog on Tuesday without notice. I received several emails asking where was the Blog and if I was well. Frankly, the laptop was closed at 6:00 PM on Monday as part of the Baltimore show packing process without considering writing a blogpost for Tuesday morning. Relaxing in the basement sound room with my favorite adult beverage was the imperative before driving nine hours on Tuesday. Yes, I am alive and well and full of numismatic vigor!

Tuesday's drive from Maine to Baltimore, via Essex CT to pickup Dan White, was mostly uneventful. There was only a three car rush hour crash on I-495 near the I-93 intersection that held up traffic for about 30 minutes. Otherwise, the trip was smooth.

After staying at the Days Inn for years and watching this hotel continually degrade, it was time for a change. Dan and I are staying at the Inner Harbor Hyatt which is a heads and shoulders improvement over the Days Inn or the Sheraton. Sadly, several of the Inner Harbor hotels have not recovered from the lost tourism and conventions during the Covid-19 pandemic.

We arrived to the Hyatt at roughly 3:00 PM and quickly settled in. At 4:30 PM, my favorite wholesale dealer appeared for a long buying session and the usual coin trash talk. I thoroughly enjoy these session and the opportunity to have first shot at this individual's latest inventory. When the dust settled, the GFRC team has purchased roughly $80,000 in fresh inventory much to the delight of our supplier.

During the evaluation and buying process, three main guides are used; CDN CAC guide, CoinFacts, and of course, the GFRC Sales Archive. What became immediately apparent is the increasing prices in the CDN CAC guide. This phenomenon has been ongoing for U.S. gold for some time with early silver type lagging. The buying session revealed a recent CAC guide update with silver type coins also moving up in prices. As I continue to mention in the Blog, having a financial position in CAC approved U.S. gold and early type is like money on the bank with a high interest rate. CAC coins are one of the few assets that continue to increase in price consistent with robust demand by knowledgeable collectors.

 

Awesome Whitman Baltimore Pre-Show Buying

Following is a long list of new purchases from Tuesday's buying event. First shot is possible with quotations and cellphone images being available between 2:00 and 4:00 PM today. Come 5:00 PM, all GFRC inventory will be placed in Booth 818 showcases as Whitman offers Wednesday afternoon booth setup. Please check this list closely.

1839 PCGS MS63BN CAC Silly Head 1c - Infrequently seen...

1853 PCGS MS65 CAC 3c Silver - Full strike with light grayish skin

1841 PCGS MS65 CAC H10c - Lustrous with light gray toning, bold die scratches into STA(TES)

1837 Large Date F-101 PCGS VF35 CAC 10c - crusty gray, perfect for grade

1860-S F-101 PCGS EF45 CAC 10C - crusty gray and perfectly choice original

1868 F-104 NGC PF64 CAC 10c Fatty - Pittman pedigree and gem at grade

1815 B-1 NGC VF20 CAC 25c - First year issue, crusty gray and so nicely preserved

1883 NGC PF64 CAC 25c Fatty - Superb gem for the grade

1891 PCGS MS65 Gold CAC 25c - Previously sold by GFRC and now back in inventory. Images are in Sales Archive.

1823 Ugly 3 O-110a PCGS AU55 CAC 50c - A challenging 1823 die variety that is infrequently seen. Low CAC pop.

1830 O-117 Small 0 PCGS AU55 50c - Original and wholesome even without CAC approval

1832 Large Letters PCGS EF45 CAC 50c - Steely luster, light gold patina

1834 Large Date, Small Letters PCGS AU53 50c - Choice gun metal gray-blue toning, who needs a CAC sticker on this one?

1867-S PCGS MS62 50c - Hammered strike, choice original, light crusty gray, have not been to CAC

1849-O PCGS MS64 CAC G$1 - Brilliant frosted luster, honey-gold coloration

1840-O PCGS EF45 CAC G$2.5 - Classic copper-gold patina, so choice

1802/1 BD-3 PCGS AU58 CAC G$5 - So rare at grade with green-gold coloration

1805 BD-2 PCGS AU58 CAC G$5 - Another rare early type piece with honey-gold colors

1859-S NGC AU55 CAC G$5 - Rare date with lightly mirrored fields and light orange-gold coloration

1890 NGC AU58 CAC G$5 - Low mintage with few better in the CAC pop report

1915-S NGC AU58 CAC G$5 - Lightly crusted green-gold Indian

 

Wrapping Up The Blog

The time has arrived to head to the Baltimore Convention Center to start the day's pre-show buying before placing GFRC inventory in the security room at 12:00 noon. The Tuesday new purchases will be photographed before heading into security so we can respond to email inquiries.

Thanks again for staying current with the GFRC adventures during the 'Winter" Baltimore show event.

Be well.

 

 

 

Monday October 24, 2022

Organizing and Packing for Whitman Baltimore Show

GFRC Black Friday Sale Arrives Thanksgiving Weekend

and

Florida Transition Planning

 

Greetings on a rainy Monday morning and welcome to the Daily Blog. Thank you for visiting.

Yes, the annual Fall Whitman Baltimore show arrives this week with the usual expectations for a busy and worthwhile event. I'm still at a loss as to why the Whitman staff continue to call this the "Winter" show. Forecasted daily highs will be in the low 60s during show time and not equivalent to winter conditions.

Have readers seen the upgraded publication of the Central States Numismatic Society? The Centinel has undergone a major improvement from the smaller format to regular auction catalog sized magazine. This transition reminds me of the earlier revamping of the Liberty Seated Collectors Club Gobrecht Journal during my tenure as president. Barbara Gregory has taken over at the The Centinel after years of editing The Numismatist for the American Numismatic Association. The layout and formatting is similar to her prior product. The advertising rates are quite attractive with the usual "big boys" immediately taking full page ads. I'm also contemplating a full page ad for the GFRC Online Auctions platform given the dramatic cost difference between the Centinel and Coin World's monthly magazine.

 

Organizing and Packing for Whitman Baltimore Show

Today brings a packing day in the GFRC office along with transporting Buddy to his caregiver while I'm away in Baltimore.

Most of Sunday was spent catching up on administration work along with completely nearly all of today's shipping. The morning starts in a low stress manner due to Sunday's preparations. If the day goes to plan, the recent City By The Bay and Indiana Collection consignments will be posted to the 30 Day Price List. About half of those offerings have already sold.

Come the afternoon hours, I will be loading double row slabbed boxes of coins into luggage bags also with coin show accessories. Since GFRC will be operating a three corner booth operation (six 8' tables), the most important accessories are extensions cords and power strips to power up the table lamps and office computer. Table covers are also essential with GFRC now having procured four table covers since starting operations.

Consignment arrivals at the Baltimore show are notable with the Saw Mill Run Collection releases a nice lot of Seated halves and several U.S. gold pieces along with two other scheduled transfers from clients. Speaking of the Saw Mill Run Collection, Greg Johnson will also be behind the Baltimore GFRC tables helping out in anyway possible. His extra set of eyes and presence will be required and appreciated.

 

GFRC Black Friday Sale Arrives Thanksgiving Weekend

Can you believe that Thanksgiving is just one month away? How did that happen?

As Thanksgiving approaches, the time has come to start planning for the annual Black Friday sale. This year's sale will take place on November 25 through November 27 with the usual discounting requirement of minimum 8% to be part of the sale.

Since GFRC is transitioning to Florida the weekend before Thanksgiving (see next topic), one of my first priorities upon settling into the Venice condo is loading the COIN system with Black Friday Sale discounting instruction. For the time being, let's assume that the final day for providing those instructions is November 21. Please remember to use "Black Friday Sale Instructions" in the email subject line to help located those emails in my Inbox.

It would be best if you could hold off sending those discounting instruction emails until after the Baltimore show as starting today, my mind will be solely focused on a smooth GFRC event that includes Newtown Liberty Seated Dime Collection lot viewing and the GFRC-Lite debut.

 

Florida Transition Planning

As the Maine days grow continually shorter, the transition to Venice, Florida is quickly approaching. Diane has been in Venice for over a week coordinating the repainting of the condo along with helping to clean the debris from Hurricane Ian. Our condo emerged from the Hurricane Ian event without internal issues, though the surrounding landscaping has been impacted. Diane reports that every building in the HOA has loss much of its soffets along with downspouts that must be replaced. Newly planted trees were all uprooted by the high winds.

Once back from the Whitman Baltimore show, there will only be three weeks remaining before the East Coast I-95 journey to Florida. Overlaid on those three weeks is the Newtown Liberty Seated Collection auction that closes on November 5. Sunday November 6 and the first half of the following week brings auction lot shipments. Once that task is done, the management of check payment locations becomes a major issue. Following is a first pass schedule for clients sending check payments via 1st class USPS letter. Given that USPS mail transfer times has become longer and occasionally erratic, I plan to be more conservative with the "no mailing time frame".

- Final Day for Mailing Payment to Maine address - November 12

- GFRC Changes Mailing Address on Website and Collectors Corner - November 16

- GFRC Payment Mailing Quiet Period - November 14 - 18

- GFRC Florida Migration - November 18 - 20

- First Day for Mailing Payment to Florida Address - November 19

Please don't worry about capturing the exact schedule today as it will be repeated again in the coming weeks.

 

Global Financial News

High tech earnings week starts today with the potential for more wide swings in the NASDAQ and S&P 500. The week starts with the S&P at 3,753.

Over in Asia, the Hong Kong and Shanghai indices are being slammed as the slowdown in mainland China's economy becomes more apparent. China's 3rd quarter GDP growth was only 3.9% and a far cry from the official 5.5% goal. The combination of ongoing Covid-19 city closures and the exodus of western manufacturing companies are having an impact.

Morning market futures indicate a slight round of selling at the opening bell for U.S. stocks. The end of day close will be a function of earnings reports.

In Asia, Japan +0.3%. Hong Kong -6.4%. China -2%. India closed.
In Europe, at midday, London -0.4%. Paris +0.5%. Frankfurt +0.5%.
Futures at 6:30, Dow -0.4%. S&P -0.5%. NASDAQ -0.6%.

Spot gold has improved to $1651/oz while WTI crude is flat at $84/bbl. A Bitcoin can be had for $19,373.

The 10 Year U.S. Treasury bond yield has dropped slightly to 4.19%.

 

Wrapping Up The Blog

Let's close with an apology for the lack of new price list offerings starting during the Manchester NH show and continuing through the Whitman Baltimore event. The nearly back to back shows along with Newtown auction catalog preparations plus being the sole GFRC staff member have taken its toll. Unavailable are the long hours required for image processing and description generation. The situation will not improve much during the first few days when back from Baltimore as autumn leaf clean-up will take priority. As you might imagine, the size of our homestead grounds requires several days of effort to completely remove all the fallen leaves.

The it is what it is quote certainly applies to the GFRC situation during the coming seven days. There is no need to become stressed out, rather planning each day's activities and getting those done. Once the Florida transition is behind me, there will be a dramatic increase in GFRC online offerings given a host of new consignments, plus new purchases from the Manchester NH and Baltimore shows.

Thanks for your patience and loyalty during the next few weeks.

This concludes what is on my mind this morning. Be well!

 

 

 

Sunday October 23, 2022

Newtown Liberty Seated Dime Collection - Session 1 Bidding on October 29

Get Your Newtown Liberty Seated Dime Collection Catalog at Baltimore Show

and

Aching Joints But Mission Accomplished

 

Greetings on a overcast southern Maine Sunday morning. Welcome to another Daily Blog edition. Thanks as always for stopping by.

I must apologize for the lack of a GFRC new purchases gallery in today's edition. Yes, there were good intentions to complete more image processing on Saturday but the day took a different course. I hope that the readership will understand once viewing the subsequent images.

Today brings a full day in the GFRC office other than a morning walk to the spring pond to clean leaves. Rain arrives around lunch time and will become steady through Monday. Frankly, the inclement weather is timely for keeping me in the office as there are many Whitman Baltimore preparations to execute.

 

Newtown Liberty Seated Dime Collection - Session 1 Bidding on October 29

Let's open today's Blog with a reminder that the first round of Newtown Liberty Seated Dime Collection bidding begins next Saturday at 9:00 PM.

Certainly, there is much anticipation by the community for the Newtown auction sale as a host of high grade premium lots are being offered at fair reserve levels. Many of the lots have reserves that are consistent with the CDN CAC guide leaving room for several bids by those who wish to own a piece from this exemplary collection.

Come next Saturday, Dan and I will be driving back from the Whitman Baltimore show when the auction application opens for initial bidding. Scheduling has become compressed as the Florida transition is rapidly approaching.

A word to the wise on bidding strategy is is order. Given the higher value of the Newtown lots, it might be wise to stake out an early bidding position to secure access to four and five figure lots. The incremental bids can become substantial if waiting for the end of auction to become active. My advice is to place a strong initial maximum bid and let it ride until the end of the auction.

Good luck to everyone who plans to be active in this sale.

 

Get Your Newtown Liberty Seated Dime Collection Catalog at Baltimore Show

The Windham Staples print shop has done a great job with the Newtown auction sale catalogs. The box of 50 catalogs was retrieved on Saturday morning with the outcome meeting my expectations. The Newtown catalog is, by far, the largest GFRC Online Auctions issue and should be well received come later this week.

The sole way to secure this limited edition printing is to attend the Whitman Baltimore show and visit with Aaron Heintz at Booth 818. Aaron will be hosting his entire collection for those that wish to view a multitude of condition census lots. All dimes will be available for inspection regardless of being offered in the October 29 or January 21, 2023 sales. Those pieces that are heading to the Gerry Fortin core collection will also be available for viewing.

Here is a quick morning image of the freshly printed Newtown Liberty Seated Dime Collection catalog. There will not be a second printing for the Winter FUN display of the Session 2 lots as this catalog will be servicing both auction events.

 

Aching Joints But Mission Accomplished

I awoke this morning with aching joints after spending much of Saturday working on the stone wall behind the new barn.

Let's take a step back and place this effort in the proper context. Our neighbors, the Dodsons, have a substantial rock pile adjacent to their now demolished home. The rock pile is a typical agricultural formation with the larger rocks on the outside ring and the smaller rocks in the center. Rick wanted the rock pile removed as part of site preparation for new home construction. I was offered the opportunity to take as much of the rocks as possible for stone wall building efforts. These rocks are A+ stone wall building grade as having been exposed to a host of weather conditions for over a century. The rocks are a consistent weathered gray with the top level stone being covered with intricate moss.

The availability of these rocks was perfect timing as the grounds surrounding the new barn are being landscaped before heading to Florida. As I started transporting these rocks, it become apparent that they were acting as a antique "veneer" for the existing boulder retaining wall that was constructed by Dave Wilkinson. The boulders are essentially "the skeleton" and the Dodson gray rocks are "the skin" for the wall. Once I started depositing this pretty gray rock skin to the wall, there was not turning back. The entire wall must be completed and that I did on Friday afternoon and through most of Saturday.

Here is a 4:30 PM image of the end product along with Johnny2. The number of Johnny2 front end loader transports was countless. Each bucket load was filled by hand from the rock pile to ensure that every load completely filled the bucket. Once arriving to the stone wall, the entire bucket was dropped onto the wall followed by hand positioning most of the stones like a huge puzzle. Please feel free to click on the below image to secure a higher resolution version.

 

For reference as to the appearance of the initial boulder "skeleton", here is an image of the opposite side of the retaining wall while looking uphill at the barn. Indeed, the smaller Dodson rocks filled the spaces between the larger boulders resulting in a tidy antique gray appearance.

 

Yes, my older joints are certainly aching this morning after this marathon effort to complete the barn stone wall prior to Baltimore's Tuesday departure. With rain in the forecast for Sunday afternoon and all of Monday, Saturday was the last day to secure access to the rock pile. Once back from the Whitman show, the Dodson property will be reconstructed for the digging of a new foundation along with the remaining rock pile being hauled away as site preparation debris. What a pity....

 

Wrapping Up The Blog

As mentioned earlier, today brings a full day in the GFRC office given a host of must get done items. All Baltimore show pick-ups lots will be invoiced today. Monday's shipping will be prepared this afternoon as tomorrow brings a long day of Baltimore show inventory selection and packing. Buddy the Dog must also be taken to his caregiver until Diane returns from Florida. My goal is to relax on Monday afternoon prior to an early departure on Tuesday morning to retrieve Dan White in Connecticut.

Finally, I will be responding to yesterday's orders later this morning.

Thank-you for being part of the GFRC community and staying abreast of a coin dealer's life. Be well!

 

 

 

Saturday October 22, 2022

Liberty Seated Dimes in the Consignment Spotlight!

 

Greetings and welcome to the Daily Blog on a Saturday morning. A sincere thanks to all who visit the Blog on a regular basis.

Another day in a life started early at 4:00 AM. Yes, there are a host of tasks that I wish to wrap up today given the fast approaching Whitman Baltimore show. Southern Maine weather will be ideal for working outdoors with a forecasted high of 62F. One can't bet that for late October.

The mission has been accomplished for the Newtown Liberty Seated Dime Collection auction catalogs. An email notice arrived on Friday afternoon that the catalogs are ready for pick-up. This is one of today's tasks along with securing more weed mat and a small bottle of fine spirits for sharing at 5:00 PM during the Baltimore show. Yes, I won't forget the cups.

Now that the Dodson house and corresponding rubble have been hauled away, I feel comfortable with retrieving more stones from their rock pile. The weathered stone comes in a nice gray color and is perfect for layering over the boulder wall behind the new barn. Having access to this material has allowed me to convert a large boulder retaining wall into an antique small stone wall that looks to have been in place for several decades. Readers will be able to enjoy this newly constructed stone wall once images are posted in the Blog.

The Raymond boy's club is doing just fine with Buddy the Dog hanging out in the office when I'm working or following me around when not in the office. Diane will be returning from Florida this coming week.

Today brings a long overdue Blog edition with coin galleries. One of the reasons that I arose so early was to start processing another lot of twenty or so new purchases. Hopefully, these will be posted in Sunday's Blog with prices. If not immediate spoken for, these will be filed with the Whitman Baltimore show inventory on Monday.

 

GFRC Needs Capped Bust and Liberty Seated Halves

If one were to ask about the current best sellers in GFRC inventory, my response would be straightforward.

Of course, all CAC approved coins with eye appeal are present hot seller as my inventory has dropped to only 227 pieces. Next on the list are Capped Bust halves and Liberty Seated halves. I am seeing robust demand for these series as long as the coins are strictly original and nicely toned. As any coin dealer will tell you, it is much earlier to sell coins in a popular series than to purchase. At the Whitman Baltimore show, I will be searching for incremental inventory and hope to acquire at least 15-20 pieces to sustain current demand.

If your bank box is housing extra examples of either of these denominations, now is the time to sell as demand is quite strong. Please email with what might be available and I will be all ears.

If considering the sale of a substantial collection, this is the ideal time to take that step. GFRC provides a fully integrated sales platform that starts with an auction sale followed by price list and Collectors Corner listings. My reputation for taking good care of clients continues to expand based on proven results. The commission rate is the same for whether a coin sells at auction or on the price list. I believe in simplicity for business processes and client support.

 

Liberty Seated Dimes in the Consignment Spotlight!

Today brings a long overdue Blog edition with coin galleries. One of the reasons that I arose so early was to start processing another lot of twenty or so new purchases. Hopefully, these will be posted in Sunday's Blog with prices. If not immediate spoken for, the Liberty Seated dimes, in the following two galleries, will be filed with the Whitman Baltimore show inventory on Monday.

We open today's showcase with a four piece consignment from the City By The Bay Collection. Our friend continues to upgrade his San Francisco coinage centric collection and is promptly releasing duplicates. To save everyone's time, the approved offer prices have been listed with the coins.

Already there is a first inquiry on the 1876-S dime which has a heavily cracked reverse and is unlisted. This piece nicely illustrates the high volume production of that year and the corresponding reduced quality standards. The 1867-S offering is certainly a difficult date at the AU50 grade level. The 1891-S is an old friend and web-book plate coin.

New City By The Bay Duplicates to Consider

Priced and Ready for Immediate Purchase

1867-S F-102 PCGS AU50 10C - $1750

    1876-S Type 1 Unlisted PCGS MS64 10C              1884-S F-105 NGC MS61 10C                  1891-S F-110 PCGS MS63 CAC 10C  

  $695                                                                    $890                                                             $425      

                    

 

The Indiana Collection is also back with another duplicates release that includes multiple important offerings. Please look carefully at these lots.

The 1851-O dime is one of the nicest specimens seen in a long time including several that were CAC approved. This new offering brings unquestionable originality and a complete strike along with being an early die state with bold obverse motifs. I can't stress enough how nice this dime is even without CAC approval. It will reach the price list as a JUST BUY IT NOW. Next is a rare 1889 F-103 Repunched Date example that is a must for the Top 100 Varieties set. When constructing that set, I knew this 1889 die variety was tough, but time has proven it to be really difficult to locate. This example is my former dime and the web-book plate coin. The asking price is most fair as years will go by before GFRC can offer another example.

Finally, please check the second row in the gallery as there is an 1851-O F-101a dime with missing star 7. The Indiana Collection was the buyer of the recently sold PCGS AU50 example and is letting go this PCGS VF20 duplicate.

I'm not certain when these will be posted to the 30 Day Price List, so if wishing to make a purchase, it is best to reserve your selection immediately via email.

Special Die Variety Offerings by the Indiana Collection

Please Email for Price Quote and First Shot

      1851-O F-101 PCGS AU50 10C - $1000                               1889 RPD F-103 R6 PCGS EF40 10C - $425

    

 1835 LM-8.2 PCGS AU58 H10C                      1842-O F-102 PCGS EF40 10C                      1851-O F-101a PCGS VF20 10C

  $400                                                                  $495                                                               $300  

                

 

Wrapping Up The Blog

Let's end today's ramblings at this point. Buddy is signaling that it is time to head outdoors for his first of several bio breaks. Afterwards, I plan to enjoy the gorgeous autumn weather and leaving admin tasks for Sunday. Monday brings outgoing shipping, the last before Whitman Baltimore, and packing GFRC inventory.

Please check back this evening as I might have time to prepare more new purchase images for posting in Sunday's Blog. No guarantees here, just a best effort to get coins back on the 30 Day Price List.

Thanks again for stopping by. Be well!

 

 

Friday October 21, 2022

Whitman Baltimore Coin Show Arrives Next Week

and

Demolition of the Neighboring Dodson Home

 

Greetings on an autumn Friday and welcome to the Daily Blog. Thank-you for visiting.

Unfortunately, there is no prepared numismatic content for today's Blog edition. After operating non-stop for nearly ten days on the GFRC business, Thursday brought a day off. Instead of sitting in the office during a bright and sunny autumn day, your blogger tackled of host of outdoor tasks. If felt fantastic to be away from coins and instead focusing on the homestead property (and operating Johnny2). For those who are curious, here is what was accomplished throughout the day.

- Four more Johnny2 loads of stone were moved from the Dodson rock pile before the demolition excavator appeared on the scene. More on that topic later.

- The erosion channel at the bottom of the main pathway to the trails was repaired with crushed brick gravel followed by being overlaid with a final layer of 1.5" stone. This will stop the ongoing erosion issue during heavy rain storms.

- The front yard between the homestead and Valley Road was hand raked removing a host of smalled downed branches, and of course, leaves.

- The spring pond was cleaned along with raking leaves off the surrounding stone wall and, raking the entire area so that leaves will not blow back into the pond.

By 5:00 PM, this old dog was a tad tired and grilled an early sausage dinner. The Maine days continue to grow shorter as I was grilling during dusk. Afterwards, there was the best of intentions to format some coin images for today's Blog edition. Instead, I went to bed at 7:30 and slept ten hours. This morning bring much energy for the pending day's activities.

 

Whitman Baltimore Coin Show Arrives Next Week

The Whitman Baltimore show is just days away. Dan White and I will be driving down to Baltimore on Tuesday and primed for the dealer wholesale buying event that takes place on Wednesday morning. I'm still waiting for my favorite wholesale dealer to contact me concerning a Tuesday get together upon our arrival.

Dan called last evening to discuss the show. We've settled down the locations for the Newtown Collection lot viewing and for the GFRC-Lite debut. Each will have their own 8" tables with two display cases. GFRC will occupy three 8" tables with nine display cases holding approximately 700 coins. All GFRC offerings will be priced at $250 or more.

If attending the show and wishing to view certain inventory items, it might be best to send along an email to ensure that those coins are transported. Ditto for consignments please. Already, one client has emailed and will be dropping off a U.S. gold consignment.

Now that the Whitman staff provides for Wednesday afternoon setup, the GFRC operation will be open for business (and lot viewing) come 8:00 AM on Thursday. Early birds will have the privilege of gaining first shot to the current GFRC inventory or visiting with Aaron Heintz for inspection of his fantastic Seated Dime collection. The Newtown auction catalogs will be available at Aaron's table.

Below is the Whitman bourse floor map and the GFRC booth 818 location. We are a short walk from the entrance and located between the Stacks and Heritage operations. I'm looking forward to meeting old numismatic friends at the show along with hanging out with the staff. Unfortunately, Len Augsburger will not be at the Baltimore show this time around due to a business conflict. However, Greg Johnson, the Liberty Seated quarter authority, will be hanging out with the GFRC staff and available for die variety questions.

October Whitman Baltimore Show - GFRC at Booth 818

 

Demolition of the Neighboring Dodson Home

After several schedule delays, the demolition of Rick and Sharon Dodson's neighboring home occurred on Thursday. A huge excavator appeared at roughly 9:30 AM and was in operation within an hour's time. Here is an image of the Dodson home before the demolition started. Note the oak trees in the background behind the home along with the perfectly blue skies. The Dodson sloping terrain, surrounding their home, is even more challenging than that of the Fortins.

 

This image was taken at about 2:30 PM. The home has been completely demolished and the debris loading phase was underway. The debris removal phase has already restarted early while this Blog edition is being composed.

 

Global Financial News

U.S. equity markets were fractionally down on Thursday as earnings reporting season moves along. The major news of the day is the ever increasing 10 Year U.S. Treasury bond yield which has increased to 4.29%. Analysts are predicting that we might see 4.5% in the near term and a 5.0% rate by end of year. Higher interest rates continue to place pressure on equity prices and spot gold.

Morning market futures are forecasting another down day on Wall Street.

In Asia, Japan -0.4%. Hong Kong -0.4%. China +0.1%. India +0.2%.
In Europe, at midday, London -0.8%. Paris -1.5%. Frankfurt -1.4%.
Futures at 6:30, Dow -0.5%. S&P -0.6%. NASDAQ -0.9%.

WTI crude pricing stands at a tad over $84/bbl while spot gold is quoting at $1629/oz. Bitcoin is valued at $19,004.

 

Wrapping Up The Blog

Today brings another great weather day for working outdoors. However, I will be remaining in the GFRC office during the morning hours and focused on image processing. Today's effort will bring about consignment galleries for Saturday's Blog edition. The City By The Bay and Indiana Collections will have their latest Liberty Seated dime duplicates on display and available for price quotes.

The afternoon hours bring the first Johnny2 oil change followed by more hand raking of front yard leaves and branches. The amount of downed smaller branches precludes the usage of the leaf blower.

I will be back in the GFRC office after dinner as there is much to catch-up upon.

Thanks again for checking in at the Daily Blog. Be well!

 

 

 

Thursday October 20, 2022

Newtown Liberty Seated Dime Collection Auction - PDF Catalog is Available

and

Assessing the Newtown Liberty Seated Dime Collection Via PCGS Serial Numbers

 

Greetings and welcome to the Daily Blog. Is it already Thursday? Thanks for checking in.

My apology for a lack of a preamble to start today's edition. Let's jump right into the main content.

 

Newtown Liberty Seated Dime Collection Auction - PDF Catalog is Available

As you might have gleaned from the Blog, I take the GFRC business to heart along with the many client relationships. When a commitment is extended, that commitment will be honored by whatever it takes to get the job done. Yes, there are the occasional shipping miscue due to an aggressive workload and less than perfect order management system. But the intent is always there to provide the best service possible.

The past 48 hours have felt like a mad dash for the Whitman Baltimore show finish line. Leaving for Baltimore without a box of 50 Newtown Collection auction catalog was unfathomable, therefore, the task of creating the auction PDF catalog ruled the past three day. I'm pleased (and relieved) to report that the PDF file was insourced yesterday afternoon at my local Staples print shop. The pleasant counter person, who has printed prior GFRC Online Auctions catalog, knew the drill and was provided an older catalog as a guide. I was promised that the order will be completed and ready for retrieval on Friday afternoon.

Now that the Newtown catalog project is wrapped up, today's Blog presents that PDF file for your review and download. Aaron Heintz has assembled a remarkable Liberty Seated Dime collection while also building a comparable set of Liberty Seated halves. Come next Thursday and Friday, his Seated dimes will be available for viewing in their entirety at the Whitman Baltimore show. GFRC catalogs will be available as a documentation of Aaron's achievement.

Rather than construct a catalog specifically for the October 29 auction session, I believe that my role was to document the accomplishment rather than marketing a specific auction sale event. Given the size and value of the collection, a multiple session sale was warranted to allow the community to recharge their numismatic funds between events. I'm certain that successful bidders, during the first session, will be promptly consigning their duplicate pieces to GFRC for raising incremental capital for the second auction session that takes place on January 21. The long space between auctions was designed for that purposes. Enough catalogs were printed for both the Whitman Baltimore and Winter FUN show displays.

The arrival of a major Liberty Seated coinage collection to market is critical for the health and passion of collectors who are typically Liberty Seated Collectors Club members. No one wishes to collect a series where pieces are not available. Rather, collectors enjoy the hunt and the upgrading process until their day arrives to showcase a superior accomplishment. The release of the Newtown Liberty Seated Dime collection will have a ripple effect through 2023 as leading collections are repositioned with better pieces. You can bet that there will be a release of duplicates from my own core collection come the beginning of next year.

Following is the traditional screen capture of the Newtown Liberty Seated Dime Collection auction catalog cover. Simply click to download the PDF file. Most readers understand how to execute a right mouse click and performing a Save As operation into their targeted folder.

The Newtown Liberty Seated Dime Collection Sale PDF Catalog

 

Assessing the Newtown Liberty Seated Dime Collection Via PCGS Holder Serial Numbers

It is a well known fact that gradeflation has plagued our hobby. Coins graded during the early TPG years, prior to 2000, are typically seen as being conservatively graded. The early 2000 years brought a bout of grade inflation as PCGS and NGC loosened standards to maintain market share. Come 2007, CAC was launched by John Albanese to reign in the slow loosening of standards.

When judging a major collection and individual coins, the TPG holder generation is an important parameter to consider. Yes, I recognize that many old holders have become scratched with the coins being reholdered. However, when a coin is reholdered, the serial number remains the same. Having a keen knowledge of TPG serial numbers will provide insights into when a coin was first graded.

Older serial number are readily apparent when reviewing the Newtown Liberty Seated Dime Collection. The oldest PCGS serial numbers will be 7 digits or will be found with a leading "0" for those with 8 digits. One can rest assured that these serial numbers correspond with the Rattler and Old Green Holder generations that concluded during 1998. The appearance of 8 digit serial numbers began with the first blue label PCGS holders. These are referenced as Gen 4.0 and 4.1 (1998-2004) within the GFRC lot descriptions and typical start with a "2" as the first digit in the serial number.

So what is meant by grade inflation?

The most obvious change with PCGS grading has been the tolerance for marks on Mint State coins and hairlines on Proofs. During the early TPG years, luster and surface marks were equally important during the grading process. Many coins with incredible luster were technically downgraded due to the presence of marks. The eye appeal was all there but surface marks brought about a lower grade.

Starting around 2015, PCGS began to value luster well ahead of surfaces marks. It is not uncommon to find Mint State coins in PCGS Gen 5.0 and later holders with marks without a grade compensation. MS64s and even some MS65s will have marks that are too evident for the grade. Of course, these graded coins are not stickered by CAC as I learned during the 2015 review of my core Seated Dime set at CAC. The loosening of standards for proof coins is equally obvious as recently graded PR64s will be found with hairlines. In the past, a hairlined proof was graded as PR62 or PR63 based on the amount of reflective luster. But not now....

When viewing the Newtown Collection, or any other top end collection, always check the TPG serial numbers as a first step. Those numbers will provide important insights that will aid with a purchase decision.

 

Global Financial News

The financial world's big boys (Bezos, Dimon, Solomon) are all predicting a deeper recession during the coming months. With these types of headwinds, and a Tesla earning miss due to supply chain issues, markets are unable to conduct a prolonged rally. The S&P 500 has pulled back to 3,695 during Wednesday's trading.

Morning market futures are mostly flat with continuing weakness for high tech stocks.

In Asia, Japan -0.9%. Hong Kong -1.4%. China -0.3%. India +0.3%.

In Europe, at midday, London -0.3%. Paris flat. Frankfurt -0.8%.

Futures at 6:30, Dow flat. S&P -0.3%. NASDAQ -0.6%.

WTI crude is back to $86/bbl and may have further upside as Joe Biden can only release crude from the U.S. Strategic Petroleum Reserve for so long.

The U.S dollar and spot gold inverse relationship is holding for the longer term with gold priced at $1640 to start the day. Bitcoin is down to $19,117.

The 10 Year U.S. Treasury bond yield has again increased to 4.15%.

 

Wrapping Up The Blog

Now that the Newtown catalog is behind me, today brings attention to homestead property clean-up. While at the Manchester NH coin show, a high wind and heavy rain event brought down branches and leaves along with digging a nearly one foot deep erosion trench at the bottom of the main pathway to the Ledge Hill Trails. As I learned upon surveying the damage, rain water will flow over surfaces covered with 1.5" stone with ever increasing velocity. Once reaching bare gravel, the water rapidly eats into the surface resulting in trenching.

Therefore, today brings an outdoor day under bright sunny skies. There are a host of clean-up projects to get done today so that Friday and the weekend can be committed to Whitman Baltimore show inventory preparations.

I hope that you've enjoyed this Blog edition. Be well!

 

 

 

Wednesday October 19, 2022

Newtown Liberty Seated Dime Auction - January 2023 Session Lots Online

Newtown Auction Lot Viewing - Building a Printed Catalog

and

GFRC-Lite Update

 

Greetings on a Wednesday morning and welcome to the Daily Blog. Thank-you for stopping by.

The wet and cold weather conditions have given way to a forthcoming sunny day here in southern Maine. Sadly, the homestead grounds are a mess with leaves, branches, and pine needles strewn throughout the property. How I would love to start the clean-up effort today but that will not be the case given GFRC workload. Sunny skies means it is time to photograph new consignments and purchases before the sun moves increasingly lower in the sky.

Thank-goodness that shipping is light today leaving more time for the must get done items prior to leaving for the Baltimore show.

 

Newtown Liberty Seated Dime Auction - January 2023 Session Lots Online

Tuesday brought the insourcing of Len Augsburger's lot descriptions into the COIN database for the entire Newtown Seated Dime collection. This was a necessary first step prior to constructing the auction catalog.

Once the descriptions were loaded, the Newtown online catalog was updated including the presentation of the January 2023 auction lots. These will be offered as a second bidding session starting on January 21st and ending January 28th. If interested in viewing the second session lots, then please click on the above auction banner. Yes, a new banner will be prepared for that second session when the time comes.

There is also a treat for those with numismatically inquisitive minds. If scrolling down to the bottom of the online auction catalog page, you will find eleven lots marked with a February 9 auction date. Sorry, these lots are not being offered as a third auction event. Rather, these are the lots that will be purchased directly from Aaron Heintz via private transaction. There are some amazing dimes in this lot. Please accept my apologies in advance for hogging these premium pieces. As a consolidation, the Fortin duplicates will be promptly offered for sale during the November time frame.

 

Newtown Auction Lot Viewing - Building a Printed Catalog

Assembling the Newtown Liberty Seated Dime Collection printed catalog is the primary activity that is presently consuming all of my time. This catalog is by far the largest project to date for the GFRC Online Auctions platform with 127 coins being listed.

So what is involved in building an auction catalog? First, proficiency with Microsoft Word is paramount. Luckily, I've been working with the Microsoft Office suite during years in the semiconductor business with Excel and Powerpoint being the primary tools. The auction business has brought a rapid familiarity with the power of the Word application as is presently the case.

Building a catalog of this size means hundreds of copy/paste steps as images are retrieved from the website and pasted into the Word file. The same is true for lot descriptions as they are copied from the online auction catalog into the file. Understanding how Word formats these copy/paste transfers is critical for efficiency.

Once the catalog file is completed, I am certainly not done. When printing a catalog in large quantities, there is no going back to correcting mistakes. Key is a thorough quality control review of the entire Word file for correcting small errors. The final steps are converting the Word file to a PDF followed by driving to Staples for securing a 50 piece print run.

After working feverishly on Tuesday afternoon and evening, the catalog file is about 70% complete. Today brings the inclusion of the last 30% followed by that long and careful quality control review.

There will be a tremendous sense of relief once the PDF file is dropped off at Staples with examples of prior GFRC catalogs for securing a quality print run of the Newtown Collection.

 

GFRC-Lite Update

In the background, the GFRC-Lite start-up efforts continue given the Whitman Baltimore debut at Booth 818. Rich sent along a brief summary of where we stand with the new venture.

Hi Gerry,

I read your blog today and yes, I heartily agree that start-ups are always challenging and require quick problem solving. The GFRC-Lite venture is no different.

Moving to the Microsoft Office 360 platform involved the “P” word, no not “Price”, I’m talking “Pain”. For the last couple of years I’ve known that my HP laptop, with its’ pedestrian 4Gb memory, was on its last legs and in need of a technology refresh, but I purposefully delayed because it still worked, although performance time was clearly slowing. 

Given that I knew the PC desktop migration was no small task, I quickly researched the web and found a local IT guy, Scott, that I felt could work with me both now and in the future to support the GFRC-Lite business. It took over 4 hrs to migrate my existing desktop with the help of Scott but that task is done.

I think back to when the the GFRC-Lite concept was proposed to you at Summer FUN, basically you liked the idea and thought it would work, I told you of the need to setup an LLC, banking, and insurance as first steps and off we went.

Now we are just a week from Whitman Baltimore and the accomplished tasks list is moving along. The technology platform has been updated. The GFRC-Lite website is progressing. I’ve received coins for consignment that have been graded and will be for sale at Baltimore with the Annandale show scheduled for Lite attendance in December. My inputting into the COIN database has been verified by the master back in Maine. Life is good!

I can’t wait for Baltimore, I need a break !

 

Global Financial News

Trader sentiment appears to be shifting towards the bulls as the S&P 500 has bottomed several times at the 3,600 level followed by recoveries above that critical juncture. Tuesday's trading was again positive with the S&P attaining the 3,720 mark. Some are pointing to receding crude oil prices are the cause and effect. Frankly, I'm not convinced that the relationship is so straightforward.

Morning market futures again present an upward bias when markets open in two hours. There is a huge amount of cash on the sidelines that needs to find a home. That plus the fact that investing is a bet on the near term future leads me to believe that we may see the markets move back up to the 4,000 level by mid-November. The mid-term election outcome will be a key parameter for investor sentiment.

In Asia, Japan +0.4%. Hong Kong -2.4%. China -1.2%. India +0.3%.

In Europe, at midday, London +0.1%. Paris +0.6%. Frankfurt +0.2%.

Futures at 6:30, Dow +0.2%. S&P +0.4%. NASDAQ +0.6%.

WTI crude stands at $83/bbl while spot gold is priced at $1644. Bitcoin continues to be stuck in a tight trading range with a morning quote of $19.243.

The 10 Year U.S. Treasury bond yield has increased to 4.07%

 

Wrapping Up The Blog

Given today's substantial workload, let's end the Blog here. Buddy the Dog needs his first bio break of the day along with getting a shower in before returning to the Newtown printed catalog construction project.

Thanks again for checking in. Be well!

 

 

 

Tuesday October 18, 2022

Newtown Liberty Seated Dime Auction Sale - October 29 Online Catalog is Complete

and

GFRC-Lite Start-up Update

 

Greetings from the Raymond Boy's Club and welcome to the Daily Blog on a Tuesday morning.

Southern Maine weather has been in the toilet and will continue in this manner through the evening hours. Monday brought one of those cold raw wet days where no one felt like venturing outdoors. The weather was just so unpleasant that remaining indoors was the logical choice. Yes, I did take Buddy out for his bio breaks but that was it.

The GFRC office is close to being back in normal operating mode after a long day of repositioning inventory and heavy morning shipping. More consignments have been placed into the USPS shipping loop during the past 24 hours along with a few incremental proposals arriving.

Wednesday brings a cold front and clear skies. You can bet that the photography department along with the GFRC Online Auctions catalog construction will be in full operation.

One of the secrets of life is positive transitions. First is identifying an aspect of a life that needs improvement followed by taking initial steps. Soon, those initial steps can be transformed into a habit and before long, a permanent lifestyle update. Case in point has been the Daily Blog which has brought about a marked furtherance to writing skills and an expanded vocabulary. The recent weight reduction effort is similar as I am approaching the 200 lbs threshold. Being able to live a life without overt sugar intake has brought about remarkable results.

Seth Godin's newest blogpost touches upon this topic from an autobiography perspective. Let's listen to his perspective.

Seth Godin Blogpost - Your autobiography

Even the longest biography is only 66 hours on audio. This means that the author has to leave out almost everything.

We write our own autobiography each day by deciding what to focus on, what to rehash, and what to worry about.

The same life story can be told in many ways, and the way we tell it changes who we are and who we become.

Who is editing your version?

 

Newtown Liberty Seated Dime Auction Sale - October 29 Online Catalog is Complete

I am absolutely thrilled to report that the online catalog for the first Newtown Liberty Seated Dime Collection auction sale has been completed. Reserve prices were approved by Aaron Heintz on Monday afternoon followed by Len Augsburger emailed his insightful descriptions during the overnight hours.

Please take the time this morning to visit the auction page (just click on the Newtown auction banner) to view the session one offerings.

Len Augsburger is the man when it comes to preparing concise and in depth descriptions. They are a joy to read with the Newtown prose being his best GFRC effort to date. As mentioned to Len this morning, he will be writing the descriptions for my core Liberty Seated dime collection when that day comes. No one does it better for Liberty Seated coinage.

The setting of reserve prices is a bit of an art for higher grade Mint State dimes that are near the top of the condition census. For those not intimate with Liberty Seated coinage, a logical process would be to simply use the CDN CAC guide numbers as a low risk step. For the Newtown Collection, it quickly becomes apparent that the CDN CAC guide numbers are not all created equate. Due to few auction appearances, or the lack of insourcing GFRC auction results, these guides numbers can be less than accurate in some cases. I know first hand what the top pop gems are bringing in the market based on my own private and auction purchases. Those insights were also employed for setting the reserves.

A short commentary is warranted concerning the GFRC Online Auctions platform based on some hard judgment seen on message boards. The issue is that reserves are set at or close to retail pricing levels which limits bidding action. Of course, collectors would love to see low reserves towards ripping a coin or two at auction. A fair number of dealers also prowl the major auctions in the hopes of securing a coin that sells too cheap resulting in a profit opportunity.

Well dear readers, the GFRC Online Auction platform was constructed to solve a different problem that plagued the GFRC business for years. That issue was the First Right of Refusal (FRoR) program which was driving me insane as better collections were consigned. There were those in the community that would aggressive push for FRORs with the hope that I would under price their targeted coins. When I did not, they walked. When I did, they scored. This approach became untenable to manage resulting in my asking Matt Yamatin to construct a simplified auction application. In the past two years, Matt's easy to use application has proven its value with increasing higher price consignments being assigned to GFRC.

Therefore, if outside of the community and looking to score a bargain, the GFRC Online Auctions venue will be disappointing. All reserves are set at a competitive market level given my understanding of where coins are currently trading. This is key for CAC approved coins that bring premiums. If a lot does not sell at auction, it moves to the GFRC 30 Day Price List and Collectors Corner. With time and patience, nearly all auctioned coins will sell at their initially reserved prices. Most, if not all, GFRC clients understand this point and will bid accordingly. GFRC consignors can also feel a sense of "pricing protection" without being charged higher commission fees for the use of retail level reserves. At GFRC, my role is to take care of the collector as I wish to be supported when selling my own coins.

So please take the time to visit the Newtown first session offerings with bidding starting on Saturday October 29.

If attending the Whitman Baltimore show next week, please plan to spend a hour or two with Aaron Heintz for a personal tour of his entire Liberty Seated Dime collection. There will be an ample number of printed catalogs for taking notes for your targeted lots. Each lot has been marked with a label indicating if being offering in the October 29 session or the mid January 2023 session. Those that are moving into my personal Seated dime collection are also marked accordingly.

 

GFRC-Lite Start-up Update

Let's face it, when constructing a new business, as in our case a GFRC franchised entity, there are a few initial issues that need to be overcome.

During the past week, it become apparent that Rich and I were not operating with the same level of computer technology and software applications. Rich has promptly upgraded his computer and is now running Microsoft Office 360 which is paramount for the seamless exchange of COIN database files between the home base and the franchise. Operating on one COIN database is paramount given that lower priced coins from exiting GFRC clients will be handled by GFRC-Lite.

Today brings a 30 piece TPG certified lot shipment to Rich to enable his Whitman Baltimore show debut with two cases of inventory. This debut is ahead of our original schedule but should be well received by show attendees. For once, the GFRC booth will offer a complete range of coins priced from $50 to $20,000. I suspect that Rich will soon be buried with consignment inventory based on my email conversations with existing GFRC clients.

 

Global Financial News

Monday's equity trading brought an important rally which was based on positive bank earning results. JP Morgan, Wells Fargo and now, Bank of America have reported earnings that beat expectations. Bank of America is reporting that its customers continue to spend freely with account balances that are higher than the pre-Covid period. We find the S&P 500 at 3,678 to start the day with morning market futures pointing to a second rally day.

In Asia, Japan +1.4%. Hong Kong +1.8%. China -0.1%. India +0.9%.
In Europe, at midday, London +0.9%. Paris +0.6%. Frankfurt +1.1%.
Futures at 6:30, Dow +1.1%. S&P +1.4%. NASDAQ +1.7%.

Regardless of the OPEC+ banter on production cuts, WTI crude oil pricing has not increased much with the morning quote back down to $84.35/bbl.

Spot gold is idling at $1657/oz while Bitcoin is trading at $19,527. The 10 Year U.S. Treasury bond yield has punched through the 4.0% level at 4.02%.

Markets may also be anticipating a strong Republican outcome during the November mid-term elections. The shift from a full Democrat regime to a mixed political government is historically viewed as a positive for financial markets. No one party can swing the country too far in other the left or right directions.

 

Wrapping Up The Blog

Buddy the Dog is sitting in the office patiently waiting for his morning relief walk. Let's end the Blog at this point.

I will certainly be in the office the entire day either shipping purchases in the morning or beginning to prepare the Newtown auction catalog that needs to go the printer on Thursday. For those of you who are emailing and pushing me to get your consignments posted to the price list before the Baltimore show, my priority will move in that direction once the Newtown PDF file is dropped off at the printer.

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

 

 

Monday October 17, 2022

CAC Grading - A Worthwhile CDN Interview with John Albanese

and

Finalizing the October 29 Newtown Liberty Seated Dime Auction Sale

 

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

The Raymond homestead is once again a boys club as Gerry and Buddy will be hanging together until the Whitman Baltimore show. Diane, along with sister Rachel, are now in Venice Florida and attending to their respective condos after Hurricane Ian. This trip was scheduled before the hurricane as an opportunity to update the units prior to moving in for the winter.

Sunday brought a chance to catch-up on admin tasks including updating the price list with recently sold coins and issuing delayed invoices for online sales. The shipping department opens this morning for regular outgoing orders.

The demolition of the neighboring Dodson home has been delayed until tomorrow. Therefore, I will be around for the event and will take a few images of the Blog.

 

CAC Grading - A Worthwhile CDN Interview with John Albanese

If you have time for just one numismatic item today, other than reading the Daily Blog, might I suggest taking in a fresh John Albanese interview that is available on YouTube.

This is the link to access the interview. CDN Interview: CAC Grading - John Albanese

CDN's John Feigenbaum sits down with John Albanese to discuss the newly announced CAC Grading Service for a little over 30 minutes. Key questions about the new service are posed and responded to. The fate of the existing CAC stickering service is also revealed as John does plan to change the fee structure in the short term and eventually close down this numismatic venture.

John indicates that CAC Grading will be offering two online set registries. One will be CAC exclusive for CAC Grading and CAC stickered coins while a second will be wide open similar to the GFRC Open Set Registry.

There is considerable back and forth between both individuals concerning the Albanese approach for maintaining a consistent grading standard over the long term. Consistent grading has been an ongoing issue for PCGS and NGC as witnessed by the amount of dregs in both of these holders as seen at any major coin show. John's approach will be grading sets and the regular tuning of grader eyes, with respect to those sets, to maintain "sharpness".

The interview exposes John's perceptions of the numismatic market with several important tidbits. One is concerning Gold CAC approved coins. Albanese believes that collectors should leave Gold stickered coins as is as the Gold sticker commands more of a premium than if cracking out and securing the next higher grade with just a Green bean.

This video should answer most initial GFRC community questions and is worth the 30 minutes to view.

As I suspected, the days are numbered for the CAC approval business, especially for lower priced coins under $500. Albanese wishes to cut back the CAC approval volume substantially and will use a higher fee structure to accomplish this goal. With higher submission fees and ever increasing shipping costs, the low end of the numismatic market will be the first to be squeezed out. As a result, I am expecting that 2023 will bring increased demand for lower priced CAC approved coins on an across the board basis.

Rather than share more of the interview's content, let's end this topic here.

 

Finalizing the October 29 Newtown Liberty Seated Dime Auction Sale

Bidding opens for the first Newtown Liberty Seated Dime Auction Sales session in a little under two weeks. The next 48 hours will see the completion of the Session 1 online catalog. Len Augsburger has promised that descriptions will be completed by the end of today. Preparing a reserve price proposal, for Aaron's approval, is my number one priority other than morning shipping.

Hopefully, by end of day Tuesday, the online catalog will be completed. This will facilitate the next step for the PDF catalog building process. By Thursday, the PDF catalog must be completed for the entire Newtown Collection followed by a printing run at a nearly Staples office. Come next Tuesday, I will be traveling to Baltimore with the printed catalogs. These will be available at Booth 818 and GFRC Online Auctions lot viewing session hosted by Aaron Heintz.

 

Patience With New Price List Postings

I'm still in recovery mode with respect to the Manchester NH show as of this morning. With Diane's departure on Sunday, that recovery will take longer than normal given Gerry being the only resource to handle all aspects of the GFRC business.

Currently, the Newtown catalog preparations will trump posting of new purchases and consignments prior to the Baltimore show. If the catalog building goes smoothly and incremental time is available, I will add new offerings to the 30 Day Price List. However, if time becomes precious, the Manchester NH new purchases will be available first at the Whitman Baltimore show. Clients who attend the Baltimore show will have first shot.

 

Global Financial News

Another equity market trading week is upon us. After Thursday's sharp rally only to be followed by sharp losses on Friday, the markets are in a state of high volatility. The S&P 500 stands at 3,583 at needs to hold this level if the 3,600 market bottom is to hold.

The 20th National Party Congress of the Communist Party of China is underway with a two hour Xi Jinping speech. Over in the West, new semiconductor technology export rules are being implement to minimize the possibilities of the latest technology ending up in the hands of the People's Liberation Army. Xi is also standing firm on the Zero Covid policy which is bringing sporadic closure of many Chinese cities.

Morning market futures brings some optimism for a recovery of Friday's losses during today's session.

In Asia, Japan -1.2%. Hong Kong +0.15%. China +0.42%. India +0.76%.

In Europe, at midday, London +0.44%. Paris +0.54%. Frankfurt +0.51%.

Futures at 6:30, Dow +0.95%. S&P +1.13%. NASDAQ +1.34%.

WTI crude pricing has settled back to $85/bbl while spot gold is quoting at $1662/oz. We find Bitcoin at $19,331.

The 10 Year U.S. Treasury bond yield stands at 3.95%.

 

Wrapping Up The Blog

There is little to add at this point and best to end today's Daily Blog edition.

Thanks again for visiting. Be well!

 

 

 

Sunday October 16, 2022

Manchester NH Show Wrap Up

and

Homestead Peak Color Autumn Images

 

Greetings from the Maine homestead office and welcome to a Sunday morning Blog edition. I'm pleased that you could find time to visit.

A strong rain and wind event hit the Raymond homestead while I was away in Manchester. Much of the autumn foliage was stripped from the trees and is everywhere on the property. The winds were quite strong leading to a host of broken branches on the walking trails. I found the spring pond covered with pine needles upon arriving home yesterday afternoon. More on this topic later in today's Blog.

 

Manchester NH Show Wrap Up

Another Manchester NH coin show is in the history books and what a show it was. Ernie Botte, the show promoter, certainly checked Saturday's Blog commentary and promptly started nudging me to fly up from Florida to attend the April 2023 event. Sadly, the spring Manchester show is held in mid-April while Diane does not wish to return to Maine until the beginning of May.

Saturday is typically a low key "tire kicker" day at the NH Coin Expo with constant awareness of the targeted 1:00 PM booth closing time. Well, Friday's sales momentum continued into Saturday morning with another $10K in sales placing the Fall 2022 NH Coin Expo show into the top spot in the GFRC record book for a Manchester NH event. Hound Dog Dan continued to walk the bourse during the slower moments and was able to locate a few more "buy-able" CAC approved early type pieces.

Why did GFRC have such a great event? There are three fundamental reasons:

- A huge inventory of Capped Bust, Liberty Seated, and U.S. gold coins that was unmatched on the bourse floor.

- Premium quality coins with a large percentage being CAC approved. Collectors continue to recognize the long term value potential that CAC approval provides along with the coins being strictly original and accurately graded.

- A collector friendly service attitude with no pressure sales. Collectors enjoy hanging out at the GFRC table looking at coins and having the questions responded to. I was also much more aggressive with conducting trades as long as the trade coins were consistent with inventory quality.

Now that the Manchester show is behind me, attention immediate shifts to Whitman Baltimore show preparations. The Baltimore show brings the display of the Newtown Liberty Seated Dime Collection and the debut of GFRC-Lite along with regular GFRC inventory sales. There are only nine days to wrap up the GFRC Online Auctions web display along with preparing and printing of the Newtown Collection paper catalog. It is doubtful that many of the Manchester NH new purchase will be reaching the 30 Day Price List before leaving for Baltimore next Tuesday. Those new purchases will be placed into Baltimore show inventory as there is only so much that one person can do in a week's time.

 

Homestead Autumn Images

One of the reasons for closing down the Manchester show booth early was to return back to the Raymond homestead early enough to clean out the spring pond. Yes, I am on a mission to keep the bottom of th pond free of leaves and pine needles towards enabling the placement of trout in the pond come next spring. Decomposing leaves will poison the water on a long term basis or must be raked out and disturbing the pretty sandy bottom appearance.

This first image captures the spring pond upon arriving for the clean-up. The surface is covered with pine needles while a host of leaves already having been submerged.

After 40 minutes of intense pool skimmer work, the pond is back to its usual appearance after routine morning cleaning. While skimming the surface bound pine needles, I discovered that stirring the waters brought the submerged leaves to the surface for removal. More "stirring of the waters" will take place today to further remove water logged leaves.

 

While walking back to the homestead on the southern trail, I could not help but document the beauty of the fallen leaves on two of the steepest segments.

    

 

Left's close today's Blog with a capture of autumn 2022 peak colors from the back deck. This image was taken at about 5:00 PM with the sun quite low in the sky and casting an evening glow on the horizon. The coastal cloud bank is easily discerned along with the intense foliage colors. I've left this image in high resolution, so please feel free to click on the image to secure a much closer color inspection.

What a year it has been with the addition of the barn, several new stone walls, and further enhancements to the settler's stone wall!

 

Thank-you again for checking in. I hope that you've enjoyed the presentation as much as I have with today's preparations.

A long office day awaits me as all Manchester sales and new purchases will be entered in the COIN system. By late afternoon, the online price list will be updated with sold coins removed. Consignors will be able to log into their accounts and check for sold items.

Be well!

 

 

 

Saturday October 15, 2022

Manchester NH Show Rocks - A Record Breaking Event

and

Pinnacle Rarities is Closing Down

 

Greetings once again from the NH Coin Expo bourse floor and booth 607. The dynamic Gerry and Dan duo are well rested after an amazing Friday of non-stop sales. Please read on....

 

Manchester NH Show Rocks - A Record Breaking Event

A wild sale day best describes what took place on Friday when GFRC sold well beyond the mid-five figures in a single day at Manchester. By end of day, Dan and I were happily stunned at what had taken place. We looked at each other and wondered if really were in Manchester rather than a Whitman Baltimore show. Serious collectors appeared within 20 minutes of the show open and did not stop arriving until 4:00 PM. The day was a surprisingly wild ride.

For once Liberty Seated dimes were the hottest items at the booth followed by U.S. collector gold. In reality, we sold pretty much all denominations. Clearly CAC approved coins were being sought by knowledgeable collectors. That fantastic 1802 Draped Bust dollar, purchased on Thursday afternoon, sold within an hour of the show open. Interestingly, a number of collectors arrived with coins to trade with most being CAC approved. How I love selling CAC coins and taking in CAC approved duplicates on trade. Two nice Liberty Seated coinage consignments were also insourced.

Let's contrast what took place on the Manchester bourse floor with GFRC's online sales. While Dan and I were non-stop busy at the show, online sales were anemic. Deciphering the contrasting sales environment will take some thought as we approach the Whitman Baltimore show in roughly ten days.

The CAC Grading Service announcement was a hot discussion topic for sure. There was skepticism by some collectors while yours truly believe that CAC Grading will have a long term positive impact on the hobby.

Why was GFRC so successful at Manchester? Simply stated, we had BY FAR the best selection of early type and U.S. gold on the bourse. Collectors would initially visit our booth and then walk the balance the bourse. Once they returned, they remained at the GFRC booth and spend their coin monies. A fair number of consignors will be pleased once the sold coins are removed from the price list on Sunday.

Bottom line, the top tier of the U.S. coin market remains very strong regardless of economic conditions and geopolitical events. As I mentioned to many visitors, holding a position in CAC approved coins during these chaotic times is like having money in the bank. Prices are holding firm or even moving up. Other bourse dealers with raw or average TPG "stuff" did not share in what took place at the GFRC booth and simply watched the happenings at 607.

One regular GFRC client said it well upon returning to the GFRC booth after the LSCC afternoon presentation by John Frost. I wrote down his words as they best summarized the GFRC display. "This is the place to breath in great coins!"

Verne Pitman Breathing in Great Coins at the GFRC Booth

 

Pinnacle Rarities is Closing Down

Friday evening brought a quick email check and a surprise announcement from Pinnacle Rarities. After operating for 35+ years, Kathleen and Dan Duncan are closing down their coin business. Kathleen and Dan have been fixtures at all major coin shows as long as I can remember from my initial collector days.

A check of their inventory revealed a shrinking number of coins remaining online.

Congratulations to Kathleen and Dan for a fantastic numismatic career. They were one of the "good guys" with unquestionable ethics and keen eyes for the finest coins.

 

Wrapping Up The Blog

Dan and I enjoyed a wondeful dinner last evening at a local sports pub. Beers, chicken wings and chili were sufficient to service the appetites of two worn out coin dealers. Post dinner conversation brought a reflection on how far GFRC has come since the "early days" when Dan and I first met at a Winter FUN show back in 2015. The conversation then shifted to CAC Grading and how will GFRC become a proponent of this new endervour. You can bet that GFRC will be embracing this start-up. How and when GFRC will introduce CAC Grading holders into inventory will be planned during the balance of the year.

Saturday is typical a tire kicker day at the Manchester show but who knows how the next few hours will play out?

My advice to GFRC clients who have been staying on the sidelines due to concerns is straightforward. Shutdown access to a depressing media and re-engage with your coins. They are holding their value during these troubled time and will continues to be a long term store of financial wealth. Consider adding more CAC approved coins to your collection while availability remains viable. As some point, CAC stickering will close down as John Albanese shifits more of his attention to CAC Grading.

Thanks for stopping by at the Blog. Be well!

 

 

Friday October 14, 2022

CAC Grading Service Launches January 2023

and

Excellent Buying at the NH Coin Expo

 

Greetings from the NH Coin Expo bourse floor and welcome to a Friday edition of the Daily Blog.

CAC Grading Service Launches January 2023

The worst kept secret in the numismatic business has been finalized. John Albanese has formally announced the launching of CAC Grading Service starting January 2023. Rather than write a long summary of the forthcoming new TPG service, let's share a link for Coin World's interview with John Albanese. His interview can be found at this link;

CAC Grading Service Interview

Since being a strong proponent of CAC approved coins, I am thrilled with this announcement that John Albanese will be starting a collector centric grading service with its own Set Registry. John will only focus on U.S. coins during the start-up. Certainly, there will be many questions about the fate of the current CAC approval platform as John shifts his attention to CAC Grading. More will be written concerning my thoughts on Sunday morning. This announcement has been in the works for months.

 

Excellent Buying at the NH Coin Expo

I'm pleased to report that GFRC enjoyed a strong buying event during Thursday's Manchester show set-up. Dan and I aggressively worked the bourse floor as dealer were opening their displayed inventories. As usual, we were searching for early type and U.S. gold with premium eye appeal. If the numbers were close to the CDN CAC guide, we added these to inventory on behalf the GFRC community. Looking into our security case, yesterday's effort yielded as least 20 CAC approved additions across all denominations. Dan White bought an absolutely amazing 1802 Bust dollar that needs to head to CAC first before being offered. On the rare date gold category, I purchased an 1888-S PCGS MS63 CAC $5 with one finer in the CAC pop report. This one walked up to the GFRC table in a "wholesale" box.

 

Wrapping Up The Blog

I'm hopeful that today will bring reasonable retails sales given the wet outdoor conditions. Online sales continue to be anemic, therefore hoping that the Manchester show provides an opportunity to catch-up the October sales forecast.

Please check back on Saturday morning for another quick show report.

Thanks for stopping by. Be well!

 

 

 

Thursday October 13, 2022

Planning Begins for 2023 Spring Pond Post & Beam Platform

Attempting to Decipher the U.S. Coin Market

and

GFRC at the NH Coin Expo, Manchester NH

 

Greetings and welcome to the Daily Blog.

This edition is being composed on an early mid-October Thursday morning as I will be heading to Manchester NH in a few hours.

 

Planning Begins for 2023 Spring Pond Post & Beam Platform

Wednesday brought the final site visit by Pete Therberge and the official closure of the barn construction project. Pete's final invoice was paid followed by taking a walking tour of the Ledge Hill trails and a visit to the spring pond. Throughout the tour, Pete was amazing with the amount of large boulders that lined the trails.

Our visit to the spring pond had a purpose. That purpose was to pick a location for a screened-in tenting platform. The location was easily selection based on tree density and access. Next came the process of envisioning the size and construction. We agreed that the structure would be 10'x10' and using post and beam construction with aluminum framed screens and a shingled roof. The area by the pond is loaded with mosquitoes during the hot summer months, therefore the cabin must be fully screened for overnight camping or simply a shaded place to visit during the hot summer months. My vision is being able to take the laptop down to the screened-in cabin along with cellphone, and conducting GFRC image processing and email communications as a break from the homestead office. Nothing would beat this working environment especially after the spring pond is stocked with trout.

Pete is all in for building the cabin come next summer. His only concern was not being able to bring his truck down to the job site. Materials will be moved by Johnny2. Pete will probably trailer his side by side ATV and bring to the homestead for the duration of the project. Power will be supplied by the forthcoming Bluetti solar power station.

 

Attempting to Decipher the U.S. Coin Market

An alternative title lines might be "what in the world are coins worth these days?"

The Manchester show is an important litmus test for the state of the U.S. numismatic market from my perspective. Several of the status quo entities that enable the market are not functioning well and are having an impact. PCGS operating with untenable lead times and CAC is unable to keep their Tier 1 submission level open. The supply of "freshly made" coins is dwindling as the two primary enablers are struggling.

Pricing coins has become difficult. I try to prices coins based on the coin themselves, not based on the TPG labels or the green bean stickers. The "market" appears to have other ideas. Lower priced CAC approved coins (under $500) are flying off the shelves while higher priced versions appear to be languishing at the elevated guide numbers. Pricing non-CAC approved coins bring incremental challenges.

Pricing U.S. gold also brings its own mental trials. Spot gold is impacting the $10 and $20 denominations. Common dates, with CAC approval, as selling below the CDN CAC guide. Yet better dates are seeing higher guide prices numbers and being picked off GFRC's inventory when I don't keep up with the guide increases.

So the Manchester and upcoming Baltimore shows will be an opportunity to witness the coin market first hand. What will dealers be asking for their coins on a "wholesale" basis. Does "wholesale" even exists at this point? What will collectors be willing to pay given pressures on disposable income?

Bottom line, I'm trying to decipher the current coin market. Without understanding the state of "the market", it is difficult to buy when not knowing how to price coins to sell. Pricing coins to grow inventory is easy.....

 

GFRC at the NH Coin Expo, Manchester NH

Today brings setup day and dealer to dealer trading at the NH Coin Expo. GFRC will be located at booth 607 with seven cases of $300+ inventory. That inventory totals ten double row slabbed boxes or roughly 620 coins. GFRC is well known for having the broadest premium offerings at the show. I suspect that this event will be no different.

Whether GFRC will enjoy a robust or mediocre show will depend on collector turnout and pricing expectations. I will be carefully noting both parameters and will report back once back in the GFRC office on Sunday morning.

If planning to attend the show, at a minimum, please plan to drop by the GFRC booth and say hello. If wishing to sell coins, I'm all ears and will make my best offer.

The Manchester show is also an opportunity to reconnect with my buddy Dan White. Our last time together was Summer Baltimore back in June. Much has transpired since that time with a need to catch-up on our lives.

GFRC at NH Coin Expo Booth 607

 

Global Financial News

Today brings the September CPI report out and the potential impact on investor psyche. Expectations are for an 8.1% year-on-year increase for headline CPI and 6.5% for core CPI. Rather than needing to explain the difference between the two reporting categories, following is today's Seeking Alpha article on the topic.

Inflation is the focus for Wall Street and the global markets, with only an extremely tame rise in consumer prices likely to give Fed members cause to rethink rate trajectory. Core CPI is expected to revisit the peak it saw back when the Fed started its tightening cycle with what now looks like an almost quaint quarter-point hike. Now fed funds futures are pricing in an 80% chance of another 75-basis-point rise in November to bring rates up to 3.75%-4%. A hot CPI report on the heels of a strong gain in September payrolls would cement the hawkish Fed path through to the decision early next month. For the numbers, economists expect headline CPI to rise 8.1% Y/Y in September, easing from the 8.3% pace in August. Meanwhile, core CPI, which strips out volatile food and energy prices, is expected to climb 6.5% Y/Y, faster than the 6.3% increase in the prior month. That would match the peak seen in March. The economists expect the core number to outpace the headline number because the core CPI includes things like the cost of rent or services, such as health care, that are "stickier." Once they go up, they're not likely to go down.

Following are morning market futures for what they are worth. Once the CPI report is issue, traders will move the market based on the reported "data".

In Asia, Japan -0.6%. Hong Kong -1.87%. China -0.30%. India -0.61%.
In Europe, at midday, London -0.02%. Paris +0.22%. Frankfurt +0.54%.
Futures at 6:30, Dow +0.41%. S&P +0.38%. NASDAQ +0.15%.

Commodities and the 10 Year U.S. Treasury bond yield are running flat for the past few days. WTI crude at $88/bbl, spot gold at $1680/oz, and Bitcoin at $19,000. The 10 Year yield stands at 3.91%.

 

Wrapping Up The Blog

Let's end today's Blog at this point. Up next is a walk to the spring pond to clear fallen leaves followed by a shower and wrapping up packaging for the Manchester coin show.

There is no shipping today, Friday, or Saturday. GFRC shipping will resume on Monday.

Please check back tomorrow morning for a later than normal Daily Blog edition from the NH Coin Expo bourse floor. I'll share my impressions of how dealer setup and trading went.

Thank-you for being regular Daily Blog readers. Be well!

 

 

 

Wednesday October 12, 2022

Taking a Pass at Composing the Daily Blog

 

Greetings on a Wednesday morning and thanks for checking in.

Unfortunately, today brings a host of must get done GFRC and homestead items given tomorrow's travel to and Manchester NH coin show setup.

Therefore, I am moving directly into the shipping and Manchester show invoicing department rather than attempting to piece together a cohesive Blog.

I will be back on Thursday morning with a regular edition. Thank-you for the understanding. Be well!

 

 

 

Tuesday October 11, 2022

October Whitman Baltimore Show - GFRC at Booth 818

Newtown Liberty Seated Dime Collection Auction Sale Lots are Posted!

and

Eye Appealing New Purchases to Consider

 

Greetings on a foggy southern Maine morning and welcome to another Daily Blog edition. Thanks for visiting with GFRC.

The stage is set for the Manchester NH coin show as Dan White and Rose Marie are back from Europe. Dan will be joining me on Thursday afternoon for show setup followed by a nearby Greek dinner with an important client. For those planning to attend the NH Coin Expo, the bourse floor opens for early birds at 3:00 PM on Thursday. I'm looking forward to being in the middle of bourse floor action after months of working from the homestead office.

 

October Whitman Baltimore Show - GFRC/GFRC Online Auction/GFRC-Lite at Booth 818

The "Winter" Whitman Baltimore show is just weeks away! Yes, I also struggle with the Whitman staff labeling their traditional October or November show as a winter event. Let's just refer to this show as the "October" show for accuracy.

Yesterday brought email confirmation that GFRC will be once again located at Booth 818 which is next to the Stacks and Heritage operations. Booth 818 is a quad corner layout and will be one of the most exciting locations on the bourse. Why? Of course, there is the GFRC inventory to view first hand. Second is lot viewing for the Newtown Liberty Seated Dime Collection which is being personally hosted by the owner, Aaron Heintz. I believe that GFRC Online Auctions is breaking ground when providing a collector an opportunity to display his cherished coins along with personally orchestrating the lot viewing process. Aaron will be hosting his collection viewing from 8:00 AM - 6:00 PM on Thursday and from 9:00 AM - 6:00 PM on Friday. There will be no lot viewing on Saturday so please ensure that you visit on the first two days of the show.

Also at Booth 818 will be the debut of the GFRC-Lite start-up franchise with Rich Hundertmark manning either one or two cases of lower priced inventory. We hope to have two cases of inventory but need several more consignments. Can you please help Rich out? If so, just send me an email and I will take of the rest.

Finally, David Perkins Numismatics will be occupying his traditional corner booth with a host of early type coins. If searching for early dollars, Dave is the best person on the bourse.

Following is the Whitman Baltimore bourse floor map and how to locate GFRC. Please come visit us first when entering the bourse. If you have coins to sell, I would enjoy have first shot. Do you wish to drop off a consignment? I would be more than pleased to take on newly consigned coins on behalf of GFRC and GFRC-Lite. If you've been holding on to lower priced coins and wish to move those along, then Rich Hundertmark can be of assistance.

 

October Whitman Baltimore Show - GFRC at Booth 818

 

First Session Newtown Liberty Seated Dime Collection Auction Sale Lots are Posted!

Monday also brought considerable progress concerning the auctioning of the Newtown Liberty Seated Dime Collection.

Firstly, I spent two hours going through the Fortin and Newtown dime collections and rendered the final "upgrading" decisions. Sometimes "upgrading" does not mean replacing an existing dime with a "higher graded" specimen per the TPG label. Astute collectors will sometimes conduct a lateral upgrade and replace an existing coin with one with the same grade but with better eye appeal, luster or striking characteristics. When the review process was completed, eleven of the Newtown dimes will be heading into my core collection. The transfer will be a private transaction between the parties. Also, those dimes will still be on display at the Whitman Baltimore lot viewing but will be clearly labeled as being purchased by yours truly and no longer free agents.

Second, an assignment of the remaining 118 dimes into two auction sessions was made. That determination was conducted with the intent to strike an even balance of lots and values between the October 29, 2022 auction and the forthcoming January 21 auction. This proposal was shared with Aaron Heintz and promptly approved.

As of the this morning, the October 29 Newtown lots are now posted to at the GFRC Online auction link. Please take the time to click here or on the Newtown auction banner at the top of the Daily Blog page to view the forthcoming offerings. Remaining to be loaded are the Len Augsburger descriptions and the reserve prices.

Once again, a reminder that all Newtown Liberty Seated dimes will be on display at the Whitman Baltimore show along with a printed catalog for taking notes on the October 29 offerings.

 

Eye Appealing New Purchases to Consider

Among all that took place on Monday, there was still time to process more new purchase images for today's Blog edition. The following five pieces are not expensive but certainly offer old time premium eye appeal. None of these purchases have been to CAC due to the closure of the Tier 1 submission level. Instead, these are heading directly to the price list at attractive numbers.

Eye Appealing New Purchases to Consider

No CAC Submission Due to Tier 1 Closure

Please Email for Price Quote and First Shot

1834 O-103 NGC MS61 50C

1882 PCGS MS64BN 1C                                                            1908 NGC MS65RB 1C  

    

1869 NGC MS64BN 2C Fatty                                                   1867 Rays PCGS AU58 5C   

    

 

Global Financial News

Pessimism reigns with no where to hide concerning the current market situation. Stated another way, cash is king right now and assets continue to drop in price. Morning market futures indicate continued equity market losses.

In Asia, Japan -2.64%. Hong Kong -2.23%. China +0.53%. India -1.17%.
In Europe, at midday, London -1.27%. Paris -1.29%. Frankfurt -1.02%.
Futures at 6:30, Dow -0.87%. S&P -0.99%. NASDAQ -0.99%.

WTI crude stands at $89/bbl, spot gold at $1670/oz, Bitcoin at $19,037, and the 10 year bond yield at nearly 4.0%. Ugly is the operative word.....

 

Wrapping Up The Blog

Today brings a substantial amount of morning shipping followed by the afternoon dedicated to cleaning the driveway maple's leaves and sourcing more field stone from the Dodson rock pile. The Dodson home is being demolished on October 14 leaving little time to gain access to this rock wall building material.

Please confirm a purchase as the cellphone will always be in my pocket for phone orders. I will be responding to email orders after the dinner hour.

Thank-you for checking in on today's ramblings. Be well!

 

 

 

Monday October 10, 2022

The Homestead Barn is Completed!

Newtown Liberty Seated Dime Upgrading Decision Day Arrives

and

Another Round of Eclectic New Purchases to Consider

 

 

Greetings on a Monday morning and welcome to another Daily Blog edition. Your ongoing visits are appreciated.

The Columbus Day holiday somehow crept along and surprised me. Since the USPS is observing Columbus Day as a holiday, there will be no GFRC order shipments today. This leaves only Tuesday and Wednesday for outgoing shipments as Thursday is a travel day to Manchester NH.

The major homestead news of the day is the completion of the barn project. The last of the low maintenance siding was installed on Sunday. Afterwards, the grounds were cleared of construction debris, pallets, and staging. This following image captures the barn after site clean-up. Remaining is the Honda generator (for operating the overhead door motor) covered with a painter's tarp. The generator needs to move back to the homestead as our emergency power back-up. After considerable online research, I'm leaning towards the purchase of a Bluetti AC300/B300 system. This is an expandable battery system with one LiFePO4 battery providing a tad over 3000W of storage capacity. Key is the ability for the AC300 to handle up to 2400W of input solar power. This system can be moved to the homestead and charged with regular AC wall outlet or the generator until the solar panel installation takes place next year.

 

A simple vision has been turned into reality with the support of several contractors and Diane external material and color selections. The project started back in May with Town of Raymond permitting followed by the site being cleared in early June. I can still remember the project kick-off meeting with Dave Wilkinson and Pete Theberge. Pete was quite pessimistic about the location and the logistics of bringing cement and materials delivery trucks to the job site. Building a construction road down a steep sloping terrain became the first step among several infrastructure development tasks. This image captures the starting point back in mid June after the last brush pile burning event. Frankly, the transformation is well beyond my imagination thanks to Dave Wilkinson and his site clearing and preparation expertise.

 

Newtown Liberty Seated Dime Upgrading Decision Day Arrives

Today's key project deliverable is once again going through the Newtown and Fortin Liberty Seated Dime collections and determining which of the Newtown dimes will be moving into my collection. After two review sessions, the final group of upgrades is starting to crystallize and will be shared with Aaron Heintz. The purchased upgrades will be a private transaction among the parties and outside of the GFRC business.

Once the upgrading decisions are made, I will be in a position to post the first of two Newtown Liberty Seated Dime auction listings at the Auction link and online catalog. Len is making great progress with description generation and is up to the 1864 date. His work will be completed and available after I return from the Manchester show. Once Len's authoritative descriptions are loaded into the COIN system, they will automatically appear at the auction link. The final step will be the reserve pricing proposal to Aaron for his approval.

This gallery shares four pieces that are definite upgrades and no longer require consideration. The 1853 No Arrows dime is technically not an upgrade since my example is also graded MS66 with CAC approval. However, I find the Newtown piece to have superior luster and heavier die clashing.

Finalized Fortin Core Set Upgrades via Newtown Collection - Part 1

1853 No Arrows F-101a PCGS MS66 CAC 10C OGH                               1858-S F-101 PCGS MS63 CAC 10C               

    

      1860 F-112 PCGS MS66+ CAC 10C                                     1861 Type 1 F-103 PCGS MS66+ CAC 10C

    

 

My duplicate dimes, from the core set, will be immediately for sale to raise capital for the Newtown upgrades. Please feel free to email me for first shot on those duplicates. They can be view at the Fortin collection display within the Open Set Registry.

 

Another Round of Eclectic New Purchases to Consider

With the Manchester show just a few days away, there is a need to move new purchases onto the price list and show inventory boxes. Following is another "eclectic" lot for your morning consideration. Please email for a price quote and first shot access.

Another Round of Eclectic New Purchases to Consider

Please Email for Price Inquiry and First Shot

1802 B-6 BB-241 NGC EF40 $1

    1861-S PCGS VF30 25C                                                               1834 O-102 ANACS AU55 50C

    

            1875 NGC MS63 50C                                                               1915-D PCGS MS65 CAC 50C     

    

1857 PCGS EF45 1C                                      1868 NGC MS63 5C                                      1942 NGC MS68 10C

                

1858 F-103 PCGS MS63 50C                    1917-D Type 1 NGC MS64FH 25C

         

 

Global Financial News

The Q3'2022 earnings reporting starts in earnest this week with more predicted volatility given the slowing U.S. economy amidst a high inflation backdrop. We find the S&P 500 at 3,639 after dropping 104 point on Friday. There is pervasive gloom surrounding equities with much cash on the sidelines waiting for a settlement of the Ukraine-Russia war and/or a drop in the CPI.

WTI crude pricing has jumped to nearly $92/bbl which will not help the inflationary environment. Biden's draining of the Strategic Oil Reserve to mitigate crude oil prices is worrisome. One can only play this card for so long before the U.S. finds itself without an emergency energy reserve.

With all signs pointing to continued Federal Reserve interest rate increases, the dollar's strength will be sustain. This places downward pressure on spot gold which is back below the $1700 mark at $1686. Bitcoin is also below the $20,000 level at $19,262. The 10 Year U.S. Treasury bond yield stands at 3.88%

Here are morning market futures for what they are worth.

In Asia, Japan closed. Hong Kong -2.95%. China -2.38%. India -0.47%.
In Europe, at midday, London -0.50%. Paris +0.17%. Frankfurt -0.51%.
Futures at 6:30, Dow -0.25%. S&P -0.40%. NASDAQ -0.56%.

 

Wrapping Up The Blog

Not mentioned earlier was the fact that Sunday brought high dose flu and Covid-19 booster shots in one afternoon session. Those shots are starting to be felt with some tiredness that has appeared during Blog composition. Hopefully, I will be able to get a busy day in without the need for a couch rest stop.

That is it for today's Blog edition. I hope you've enjoyed the read and will return tomorrow. Be well!

 

 

 

Sunday October 9, 2022

NH Coin Expo (Manchester Show) Week Arrives

and

Feedback for The Iron Artifact from the Dodson Rock Pile

 

Greetings on a cold southern Maine Sunday morning and welcome to another round of Daily Blog ramblings.

Yes, the outdoor temperature was 33F at 5:30 AM with the unheated homestead indoor reading at 69 degrees. Frost covers the barn roof and the lawn at daybreak. The first task of the day was starting the wood stove to recover indoor comfort.

Today is one of those times where I'd like to take a holiday from composing yet another Daily Blog edition. However, a part of me insists that the mission should continue to move forward as many readers will be checking in at 8:00 AM. Maybe it is muscle soreness or the cold home environment or both that are dampening the enthusiasm for sitting at the laptop and organizing a complex edition given the substantial response to the iron artifact posting.

Or could it be that having the Fortin and Newtown Liberty Seated Dime collections available for date by date comparison in the homestead is calling me? At some point today, several hours will be allocated to quietly studying my own core set pieces and comparing with those from the Newtown Collection. Upgrade decisions will be forthcoming soon as I will be announcing the Newtown lots for the initial GFRC Online Auctions event before heading to the Manchester show. Those lots will be posted at the Auction link and online catalog.

Len Augsburger is making good progress with the description generation based on the questions that appeared yesterday. I suspect he will be working on the With Legend pieces come the next 24 hours.

OK, let's end the preamble and move into today's featured content.

 

NH Coin Expo October 14-15 - GFRC at Table 607

The Manchester NH coin show arrives this week with dealer setup the afternoon of October 13. The bourse open to the general public on October 14 and 15.

GFRC has not attended a coin show since Summer FUN, therefore I'm looking forward to being on a bourse floor with my buddy Dan White. Thursday bring booth setup and a chance to purchase new inventory. I'm looking forward to viewing the New England area dealer inventories and will hopefully locating new purchase for the community.

GFRC will have seven display cases loaded with most of the online inventory. If you are attending the show and wish to view certain coins in my inventory, it is advisable to email me before hand. There are countless times when a customer will walk up to the table and ask to view a coin that remained back in the Maine or Venice office. Seven cases holds roughly 500 holdered coins and I don't deal out of double row slab boxes for security reasons. GFRC's online inventory is much larger than 500 coins....

Below is the NH Coin Expo bourse floor with GFRC operating at its usual Booth 607 location. I hope that you might attend this important event that kicks off the autumn coin show season. Since driving to the event, I will be able to insource consignments with extra double row storage boxes. If planning to drop-off a consignment, I would appreciate notice via email for planning purpose.

GFRC has too many PCGS blue boxes in the office and will be giving away a blue box to those that make a Manchester show purchase until the supply is exhausted.

 

Feedback for The Iron Artifact from the Dodson Rock Pile

Wow! The feedback concerning the iron artifact, as published in Saturday's Blog, was huge!

Many readers enjoyed themselves and spent time researching the possibilities. Response emails included a host of 19th century diagrams for plows and horse bridles. Before citing the many responses, let's go over this piece of iron one more time. Here is a new photo with the piece resting on the office desk for proving a better sense of size and construction. Surfaces are heavily encrusted with a reddish-brown oxidation. All three points of the triangle have a 3/8" rolled edge. Attached to the top segment is a crude double loop. Careful measurements indicate a 10"x10" size. (Please forgive the untidiness of the office desk during this early morning hour).

 

Now let's move on to the responses in the order received.

Nice fine in the old rock pile. My best guess is a holder for a Dutch oven or campfire bracket of some type. It would be missing the connecting piece to whatever was hanging.  Best guess from Shingle Creek.

 It's always a pleasure to wake up to your blog.  Those rusted metal pieces could be parts to a soil tiller either pulled by a horse or a human.  There are so many artifacts hidden in this country.

Just an educated guess, but I am thinking that it is a part of an old plow.  The stone walls came to be as the farmers would plow the fields year after year, so it makes logical sense that you might find a discarded or misplaced piece here or there. Good luck with the identification.

Regarding the artifact you found under the settler's wall, it looks like some sort of horse bridle or a part of it. If it is a part of a broken bridle, it would make sense for them to discard it. Looks like it was made in a local blacksmith's shop; too much skill needed to be homemade. It's definitely been bent from being under the rocks. I've attached an image & a photo link. The link shows a "vintage" bridle. (I could not open this link due to file extension naming) Note it's the same general shape as the artifact. The other is a chart of bridle parts which seems to show something in Saddle Accessories that is similar in shape to what you found. All of this is conjecture; I do think it is something to do with a horse or a pair of horses. Which makes sense since horses were probably used to move the larger rocks to clear the fields and form the wall. Maybe some of the blog readers from western states can weigh in.

Your object was an old time ringer.  Was hung off the front or back of home or barn and struck with another piece of metal     Used by wives or someone to alert the family in the field meals were ready, visitors present etc.  Similar object used when I was a kid on the farm.

This could be part of an 18th century horse powered windlass used to bail out water or hoist heavy stones. The piece you have could be a portion used to hold the barrel or stone.

Having grown up on a farm and butchered pigs by lowering them into a scalding pot, my guess was a hanger for that purpose.  My brother-in-law, an esteemed historian in Iowa guessed it could be a hanger for butchering deer or an implement to hang pots in a fireplace.  The double circles are throwing us a bit.

This is far, far from any of my areas of expertise, but the iron artifact might be part of a walking plow (see the "beam" part of the attached image...)

After reviewing the many responses, I thought that the old time ringer suggestion was plausible and did a test. The artifact was suspended from a string and "rung" with a hammer. There was only a dull sound that would not amplify into a larger area for calling farm workers in for dinner.

The rolled ends on all three sides of the triangle are curious and could be a clue. The poorly made double loops are an important clue. I'm not convinced that this piece is part of the plow as the iron is too thin for the stress of such a large farming implement. Could it be a horse bridle? I don't believe so. A hanger for a fireplace might have some credibility but the size comes into play.

Bottom line, I'm not certain what this iron artifact could be, at least for the time being.

Thanks to everyone for their research and inputs.

 

Wrapping Up The Blog

It is a tad past 8:00 AM and time to upload today's Blog followed by heading down to the spring pond to skim the overnight leaves.

I'm not certain about how today will be structured as currently not in the mood to process images or write descriptions. However, the cellphone will be in my pocket or nearby for incoming orders.

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

 

 

 

 

Saturday October 8, 2022

An Eclectic New Purchases Lot to Consider

and

The Iron Artifact from the Dodson Rock Pile

 

Greetings and welcome to a Saturday morning Daily Blog edition. I'm pleased that you could stop by.

Thursday and Friday were ideal autumn days with daily highs reaching a tad over 70F. That warm period has ended with cold air infiltrating the southern Maine area. The current temperature at 6:30 AM is only 42 degrees with the forecasted high at 55F. The overnight will bring the first frost of the autumn season.

In just 24 hours, the orange colored driveway sugar maple has lost about 60% of its leaves due to nearly 10 mph winds. Before heading to the Manchester NH show, the first leaf cleaning event of the season will take place.

Friday brought mostly an office day given a sore body from moving many loads of stone from the Dodson rock pile during the past week. A day off from heavy lifting and raking was necessary and put to good use. More coin photography took place for incremental gallery posting within the Blog. All of the Sooner Collection halves have been posted to the 30 Day Price List with sales being brisk.

Let's move on to the morning's featured content.

 

An Eclectic New Purchases Lot to Consider

'Eclectic' is a fitting introduction to the following six new purchases that will appear on the price list by end of day. These lots were photographed on Friday and will have available prices shortly. Please feel free to send a pricing inquiry to ensure first shot.

We open the gallery with an important key date 1861-S quarter with CAC approval. This piece is 100% original with natural brownish-gray patina along with pleasing surfaces. Please look carefully at the 1854 Type2 gold $1 offering. The obverse die is heavily eroded with "spalling" visible around the center motif and within several letters of the legend. The reverse die is in much better condition. This is the first gold $1 seen with a significant amount of die spalling. Up next are two nicely detailed AU58 Capped Bust and Reeded Edge halves. The display closes with two toner Morgan dollars, both graded MS63 with the 1885-O receiving NGC's Star designation for superior eye appeal.

 

Recent GFRC New Purchases

Please Email for Pricing and First Shot

      1861-S PCGS VF25 CAC 25C                                               1854 Type 2 PCGS AU53 CAC G$1

    

1832 NGC AU58 50C Fatty                                                         1838 RE NGC AU58 50C   

    

  1885 PCGS MS63 $1                                                             1885-O NGC MS63 Star $1

    

 

The Iron Artifact from the Dodson Rock Pile

When digging up the Dodson rock pile, there was a background vision of locating a special period piece. The early settler's were poor and working hard to survive. Therefore ideas of locating a lost silver or gold coin were frivolous.

During Thursday afternoon digging, a crudely cut piece of triangle shaped iron was pulled from the ground. Immediately, I knew this was a period piece given the hand made workmanship. Measurements are roughly 12"x11". Since being well versed in not cleaning artifacts, this following images capture the piece as retrieve from the dirt. Images were taken by placing the artifact on a large granite bolder with some moss covering.

The first image captures the side with rolled bottom loops.

Side with Rolled Bottom Loops - Front Side?

The second image is the opposite side with the upper ring loops being most evident.

Back Side?

This final image illustrates the all important side perspective with the multiple top loops being easily seen. The first thought was that of a hanging frame though the shape is not conducive to holding a flat object.

Side View

I'm at a loss as to the origins and function of this iron piece. Does anyone has an educated guess? If so, please send along an email.

 

Wrapping Up The Blog

A busy Saturday morning awaits me with Gary arriving soon to finish siding the barn. There is a need to open the barn overhead door followed by walking down to the spring pond to removal overnight fallen leaves. Of course, morning shipping is also a priority and must be transported to the Raymond post office by 12:00 noon.

Thanks again for visiting the Daily Blog. Be well!

 

 

 

Friday October 7, 2022

Sooner Collection Consignment - Capped Bust and Seated Halves - Part 2

and

By Popular Demand - Autumn Scenes from the Homestead

 

Greetings on a Friday morning and welcome to the Daily Blog. Thanks again for returning for a Raymond homestead and GFRC update.

Thursday brought a thoroughly busy day along with ideal autumn weather. Sooner Collection Part 1 offerings were in strong demand with six of the ten pieces moving onto Hold status. The gorgeous 1839 Drapery half secured five pricing requests and sold to the first person on the coin. A high priced U.S. gold $20 sold from the price list as icing on the cake. By 1:00 PM, I was out the office and spent the next four hours on barn site landscaping along with moving more of the neighboring Dodson rock pile onto the settler's stone wall. While excavating deep into the Dodson rock pile, a strange metal artifact was unearthed. That object has been photographed and will be the subject of Saturday's Blog edition as I need help with the identification.

The afternoon hours brought an email from an Arizona client requesting Maine autumn images as we approach peak colors. My thoughts were the same as having taken several morning photographs for posting in today's edition.

Can you believe that Johnny2 has already reached 100 engine hours? The time for the first oil change has arrived!

 

Sooner Collection Consignment - Capped Bust and Seated Halves - Part 2

After a strong Sooner Collection consignment debut, why not promptly follow-up with the second installment? All have approved pricing and are ready for an immediate quotation. The entire Sooner half dollar lot will be posted to the price list by end of day. Now is the opportunity to gain first shot on more original collector grade specimens.

 

Sooner Collection Consignment - Capped Bust and Seated Halves - Part 2

Please Email for Price Quote and First Shot

  1859-S WB-2 PCGS EF45 CAC 50C                                       1864-S WB-1 ANACS AU50 50C OWH

    

   1853 A&R ANACS EF45 50C OWH            1854-O WB-29 PCGS EF45 CAC 50C                   1857 NGC AU53 50C EPN          

                

  1858 WB-110 PCGS EF45 50C                           1859-O NGC AU53 50C                          1860-O WB-29 NGC EF45 50C   

                

       1861 PCGS EF40 50C                            1861-O W-4 NGC EF45 50C  

        

 

By Popular Demand - Autumn Scenes from the Homestead

Frankly, I feel constantly blessed to be able to manage a small piece of Mother Nature at my age. Spending the afternoon hours "on the land" is such a contrast from the long hours in the coin office. This year, I promised myself that more time would be allocated to being outdoors during the September and October months. That promise has been kept leading to a positive attitude about supposedly "retired" life. I hope that this mental well being can be felt within the Blog ramblings.

The following four images are for my semiconductor consultant friend who made a request for autumn color illustrations.

The first image was taken during "back deck happy hour". Dusk is approaching with the moon riding over rose shades above the coastal horizon. Autumn colors are becoming most vivid at this point. The barn is only missing siding on the wall facing north. As usual, Diane has done a marvelous job with external material and color selections. The settler's stone wall is receiving a lovely gray veneer as more of the Dodson rock pile is carefully added.

Coastal Horizon View - 5:45 PM

 

This image was also taken at 5:45 PM and showcases two different maple species along with our wonderful Colorado blue spruce. This spruce tree was planted as an 8" seedling decades ago and a selection from the Arbor Day Foundation. It is by far Natsumi's favorite tree on the property.

Colorful Maples with Colorado Blue Spruce - 5:45 PM

 

Once the Daily Blog is published each day, the next activity is a health walk along the back acreage trails and skimming leaves at the spring pond. Yesterday's walk, under bright sunny skies, brought a recognition that the ferns were also involved in the autumn color transition. This image was taken at 9:00 AM and showcases one of the many ferns areas that have shifted to golden-brown.

Fields of Golden-Brown Ferns - 9:00 AM

Today's presentation closes with the driveway sugar maple that is already beginning to drop its leaves. The color contrast against the deep blue sky is phenomenal.

Driveway Sugar Maple Dropping Leaves - 10:00 AM

 

Global Financial News

U.S. equity markets were again down on Thursday with the S&P 500 closing at 3,744. Today brings the September non-farm payroll report (the "jobs report") as another indication on the state of the U.S. economy. With November mid-terms elections just one month away, this report is significant for the ruling party and the Federal Reserve. A weak report could be good news for investors who hope that the FOMC will slow down interest rate increases.

Morning market futures are essentially flat.

In Asia, Japan -0.7%. Hong Kong -1.5%. China closed. India -0.1%.
In Europe, at midday, London +0.1%. Paris flat. Frankfurt -0.1%.
Futures at 6:30, Dow +0.1%. S&P -0.2%. NASDAQ -0.4%.

Today brings WTI crude oil to nearly $90/bbl with forthcoming gas pump pricing increases. The recent spot gold rally has fizzles with the precious metal trying to hold the $1700 level. Bitcoin has be absolutely flat at the $20,000 level, give or take a few $100 dollars.

The 10 Year U.S. Treasury bond yield continue to increase and is back to 3.85%. Higher Treasury bond yields continue to support a highly valued U.S. dollar which then places downward pressure on spot gold.

Crude +1.1% to $89.38. Gold -0.3% to $1716. Bitcoin -0.9% to $19,957. Ten-year Treasury Yield +3 bps to 3.85%

 

Wrapping Up The Blog

Since today's weather will be a repeat of Thursday, so will my schedule. The morning hours will be spent in the GFRC office while the afternoon brings more Dodson rock pile transport. The Dodson home is being demolished on October 14 along with the rock pile being hauled away. Given next week's Manchester NH coin show and required preparations, there are only a few days left to secure more of that rock pile. Yes, I've learned that Sharon Dodson and I share a love for stone walls during our frequent chats at the spring pond. She is thrilled that a portion of the well weather rocks are remaining on site and complimenting the rebuilt settler's stone wall.

Thank-you for visiting. Please check back tomorrow to view images of a metal artifact that was unearthed deep inside the Dodson rock pile.

Be well!

 

 

 

Thursday October 6, 2022

Dan White's European Buying Trip Update

GFRC-Lite Start-Up Report

and

Sooner Collection Consignment - Capped Bust and Seated Halves - Part 1

 

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

Wow, the southern Maine 6:00 AM temperature is a balmy 52F with today's forecasted high at 72 degrees. Bright sunny skies will be the rule which can only mean one thing....GFRC photography time! Yes, the sun's elevation continues to drop which is leading to less than ideal photography conditions until the Florida migration in mid-November. Of course, I've developed several alternative photography locations on the homestead property with a sloping table that maximizes the lighting conditions. Would you expect less?

In just two days, the barn construction project will be officially complete once Gary arrives and applies the last of the low maintenance cedar shake siding. Now that construction has ceased inside the barn, there is an opportunity to secure an early start to relocating Johnny2's implements within the building for winter storage. Yesterday brought the erection of a two level storage rack for the grapple and forks. Rather than spending hundreds of dollars for a metal storage rack, an inexpensive alternative was fabricated with ToughBuilt saw horses, 80" 2x4s as cross pieces, and a wooden pallet nailed into the 2x4s for the top level storage location. Memories of wood working from years gone by quickly returned.

FInally, the driveway maple is 100% orange colored and is already dropping leaves at a quick pace. The burning bushes are a bright scarlet red at this point. Autumn's peak foliage colors are just ten or so days away.

Let's move into numismatics and GFRC team reporting to open today's Blog edition. First up is a report from Dan White as he canvasses western Europe coin galleries. Unfortunately, the news is not favorable.

Dan White's European Buying Trip Update

Gerry,

Well, my trip is coming to an end. Bottom line is that the trip was a bust.

My visit to France yielded some interesting French colonials: three nice 30 deniers, an 1721 nine denier, an 1720 twenty sol, as well as an 1739 double sol. These fit well into my current collecting but I had already sourced these coins while in the USA. It was a matter of just picking them up.

My other sources in France and in Belgium reported that the gold coin supply has dried up. One dealer where I had a chance to go through 13 kilograms of U.S. gold coins in early 2020 had only seven common date $20’s, two $10’s and no $5’s. Other dealers told me that it was not worth a visit as they had no interesting inventory!

I had to purchase two nice common date Liberty $20’s simply out of frustration.

Hopefully my trip next spring will be more fruitful.

I guess these trips results ties together with your blog today on where the market will be in 3 years. Collectors are holding on to good coins here. Only “stuff” is available at dealers. Rare and high quality coins are now being graded and sent to auctions.

Dan

 

Rich Hundertmark continues to prepare GFRC-Lite stocking inventory while working with a contractor for his website develpment. A reminder that the GFRC-Lite debut will occur at the Whitman Baltimore show which is just a few weeks.

GFRC-Lite Start-Up Report

Hi Gerry,

A quickie GFRC-Lite update on a Tuesday afternoon :

I’m almost with done attributing the Dr. Peterson Seated Halves and will soon begin entering info into the COIN database.

I just received a tencoin consignment from the Elegant Gentleman. It’s a nice PCGS/NGC Liberty Nickel lot with grades ranging from AU55 to MS 63 plus a lovely 1891 PCGS CAC Seated Liberty Quarter graded XF45. The coins are perfect for the collector niche the Lite business will focus on, and many thanks goes out to the Elegant Gentleman consignor. The shipment was smooth from West Virginia to NC, it left yesterday, arrived today. 

I met with my web designer Bethany yesterday to review the initial GFRC-Lite website design. I believe that the GFRC community will like the look of the site when it “goes live” in early December.

Best,

Rich

 

Sooner Collection Consignment - Capped Bust and Seated Halves - Part 1

Securing consignments is a critical function for coin dealers. We rely on collector divestment or simply providing a market place for collectors to dispose of duplicates. Relationship building is paramount along with low commissions and robust marketing.

The Sooner Collection has graciously responded to my plea for early type halves given the strong demand that is depleting inventory. Today brings the first installment of a 20 piece consignment. Halves dated from 1808 through 1848 are presented next. Several are old friends that were purchased from GFRC and are returning for a second visit. Headlining the gallery are two wonderful Liberty Seated halves; an 1839 Drapery PCGS AU58 CAC and an underrated 1848 WB-4 certified PCGS AU55.

This lot has been loaded in the COIN system with a first round pricing proposal that will be issued to the consignor this morning (after the shipping is out the door). Please free to render pricing inquiries to gain first shot.

 

Sooner Collection Consignment - Capped Bust and Seated Halves - Part 1

Please Email for Price Quote and First Shot

1839 Drapery WB-5 PCGS AU58 CAC 50C                                         1848 WB-4 PCGS AU55 50C              

    

 1808 O-102a PCGS VF25 50C                   1811 Lg 8 O-104a NGC AU50 50C                   1817 O-106a PCGS EF45 50C

                

 1840-O WB-3 PCGS EF45 50C                 1842 RPD WB-12 PCGS EF40 50C                  1843 WB-29 NGC EF45 50C   

                

       1846 MD WB-9 PCGS EF45 50C          1845-O RPD WB-1 PCGS EF45 CAC 50C

         

 

Global Financial News

Wednesday's U.S. equity market trading left the S&P 500 fractionally down and in better shape than the morning futures. This is a positive momentum development.

The huge issue facing the United States is the OPEC+ agreement to cut oil production by roughly one million barrels per day. Shrinking gasoline and diesel prices will soon be shifting upward as WTI crude has increased to nearly $88/bbl as of this morning. The following Seeking Alpha commentary on the topic is worth a read.

No outsized moves were seen in crude markets yesterday after OPEC+ slashed production by a whopping 2M barrels per day from November. That's because traders had been pricing in the cut since Sunday, sending up WTI crude futures from $79 to $86 over the course of the week, before contracts ended Wednesday's session at $87/bbl. Analysts also note that the 2M headline figure will really translate into just over 1M barrels per day, or ~1% of actual global supply, given that many OPEC nations are currently producing well below their individual quota levels. Snapshot: The bigger deal is that Saudi Arabia and Russia are not only willing to work together to prop up crude markets, but they are deepening their ties despite the war in Ukraine. The cut is a big win for Moscow, which has already lost about 1M bpd of production due to sanctions from the conflict, and faces an EU oil embargo starting in December. It's also a blow to U.S. efforts of re-engaging with Saudi Arabia after President Biden labeled the country a "pariah" and refused to talk with Crown Prince Mohammed bin Salman for years following the killing of U.S.-based columnist Jamal Khashoggi. Biden even undertook a trip to Riyadh in the summer after U.S. gasoline hit $5/gallon, promising at the time that the Kingdom would "take additional steps" to increase oil supply. While the sentiment took hold and prices at the pump came down, there are fresh fears over what an increase could mean for the U.S. economy, especially with gas costs already climbing over the past week (due to Midwest refinery problems and West Coast maintenance). For its part, OPEC+ painted the decision as a "preemptive" move against a slowdown in global demand, as well as not repeating the mistakes of central banks who took too long to respond to inflation. Statement from the White House: "The President is disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin's invasion of Ukraine," National Security Advisor Jake Sullivan declared. Biden will also consult with Congress on ways to "reduce OPEC's control" over energy prices (signing of NOPEC legislation?) and continue to direct Strategic Petroleum Reserves releases "to protect American consumers and promote energy security." Meanwhile, new reports suggest that the administration is preparing to scale down sanctions on Venezuela, which would allow Chevron to resume pumping oil and reopen exports to American and European markets.

Today's morning market futures are once again negative across the board.

In Asia, Japan +0.7%. Hong Kong -0.4%. China -0.5%. India +0.2%.
In Europe, at midday, London -0.5%. Paris -0.5%. Frankfurt -0.3%.
Futures at 6:30, Dow -0.6%. S&P -0.7%. Nasdaq -0.8%.

Paper gold is trading at $1723/oz while Bitcoin is priced at $20,116. The 10 Year U.S. Treasury bond yield stands at 3.77%.

 

Wrapping Up The Blog

The morning hours will find me in the GFRC office with shipping, Sooner Collection pricing, and finalizing the balance of the Sooner images for a Part 2 display in Friday's Blog edition. Given the warm weather and bright sunshine, early afternoon brings photography followed by time on Johnny2. I've purchased more weed mat and will be finalizing the 1.5" stone application between the barn and the settler's stone wall along with building up loam tailings around the eastern and southern sides of the barn for protecting the slab from frost penetration.

The time has arrived for the daily health walk to the spring pond and skimming leaves. Thanks for visiting. Be well!

 

 

 

Wednesday October 5, 2022

Newtown Liberty Seated Dime Collection In Len Augsburger's Hands

and

Fate of Coin Market in Next 2-3 Years?

 

Greetings on a cool southern Maine morning and welcome to the Daily Blog. Thanks again for making the Blog a regular part of your online reading.

Relief is the operative word this morning... Why? Please read on for today's headline topic.

 

Newtown Liberty Seated Dime Collection In Len Augsburger's Hands

After being focused for days on Newtown Collection image processing, Tuesday brought the preparation of the description input template that is employed by Len Augsburger. I spent from 10:00 AM through 5:00 PM reviewing every dime in the Newtown Collection and documenting my observations. Yes, this was a fun experience for sure! You might be wondering how Len and I go about preparing the individual lot descriptions given that the coins at in Maine and Len is in the Chicago area. Following is our operating secret...

Len and I have developed an evaluation system to optimize description generation. The goal is to provide Len with as much background information as possible to simplify individual lot research and to enable the most accurate descriptions possible. Let's walk through the parameters that are transfered to Len within the description template file.

- First is pedigree and purchase background to enable Len to locate past auction records. If a Newtown dime was purchased from GFRC since 2016, there is a record in the Sales Archive. If the pedigree is significant (aka Eugene Gardner), there are Heritage Auction records easily accessible via CoinFacts.

- Second are bright light observations given I have the coins in hand. Gerry will carefully review each dime under bright light and make notes on the type of luster (steely, frosted, satiny, mirrored) along with the level of cartwheel action. In this manner, Len can interpret the images since the color matching is quite accurate.

- Third are my comments about the coin that help explain the quality rating. Some of the Newtown dimes appear way better in hand than on the images. Some may have funky toning that I'm not use to seeing on high end Mint State silver pieces. Hidden marks or other issues that preclude a CAC green bean are documentation for Len's potential usage. For the truly superior lots, Len is asked to go further with the description to make it clear that the lot is worthy of a very strong bid. These observations are captured in the description file.

- Finally, die variety rarity and strike characteristics, from my own experience, are shared with Len.

Bottom line, Len and I work as a close team to deliberately study every lot in a GFRC Online Auctions event. Our goal is to ensure that bidders have sufficiently accurate information by which to place their winning bids.

The next steps in the Newtown Liberty Seated Dime Collection sales are twofold.

- First is deciding which lots will be purchased by Gerry as upgrades to the core set. Those lots will be purchased directly from Aaron Heintz as a private transaction.

- Second is dividing the Newtown Collection into two auction sessions. Once that decision is made, I will start populating the GFRC Online Auctions catalog with those lots. Images, quality ratings, and die variety attributions will be the initial pieces of information followed by Len's descriptions upon arrival.

 

Fate of Coin Market in Next 2-3 Years?

Yesterday brought a purchase along with a question concerning my view of the coin market during the upcoming 2 to 3 years. The client asked that I respond to the question in the Daily Blog so that the community can share in that response.

Here goes as the response is complex.

We live in an era where media amplification (and biases) are impacting the American psyche. Government policies concerning energy and racial equity have brought about an uncomfortable financial planning environment for many citizens. We see the prices of basic goods and services climbing while the capital and bond markets are struggling. We are experiencing an economic recession, the depth of which is up for debate based on your political affiliation. The Ukrainian-Russian war brings further anxieties as the "N" word becomes commonplace in the media. Many Americans are worried about the future with those anxieties being constantly fueled by the clickbait media.

So where does this leave the U.S. numismatic market?

I've often mentioned, in the Daily Blog, that the current numismatic market is tiered or bifurcated. At the top of the market are the CAC approved premium coins that have seen a considerable increase in prices. CAC green beans are now seen as the "gold standard" for long term financial stability and appreciation. Some denominations and series have tiny CAC populations which is further elevating demand and prices. Liberty Seated quarters is just one example. Early date U.S. gold is another area.

The second tier comprises borderline coins that are unable to be CAC approved. Though being close to the CAC standard, they are not stickered. Coins at this level poise an opportunity for those who have a passion for the hobby but can't afford to go all in for CAC premiums. Since the supply of CAC coin in the marketplace is quite limited, many collectors have no choice but to pursue those pieces that are choice, or at minimum, strictly original but not stickered.

Finally, there is the bottom end of the market that includes over graded dregs, detailed coins and the like. These type of items are the mainstay of smaller coin shows as they age in vest pocket dealer inventories. Prices for this market tier are flat or dropping.

So where is the numismatic market heading in the next two to three years?

From my own collecting experience, the top end of the numismatic market will weather wars and economic events as there are a sufficient number of wealthy individual to sustain that market segment. Passionate collectors who love their top end coins have ample resources to preclude a distress sale. Given this, I believe the CAC approved market segment will hold current pricing premiums as fewer and fewer coins are being stickered. In a strong economic environment, CAC coins will continue to see pricing increases simply due to the supply/demand equation.

The bottom end of the numismatic market is not the place to be during an economic crisis as there will be more sellers than buyers. Prices will come under pressure as those on fixed incomes see a loss of buying power.

So where does that leave the middle of the market? My belief is that choice early type will continue to hold its value during a recession as long as a balance exists between supply and demand. If the demand side become anemic and the supply side expands as collectors attempt to raise cash for life expenditures, there could be pressure on prices.

Let's close this commentary with how I am managing my own numismatic investment. Bottom line, I am staying the course regardless of geopolitical events. The Liberty Seated dime collection has been a multi-decade project and will continue to be viewed in that manner. While the equity markets experience volatility that can be unnerving, the dime collection continue to retain its financial value with long term appreciation. The key is owning top shelf or premium coins with low populations. Please remember that during financial hard times, diversity is critical. Some assets will drop in value while others will increase or at least hold their value.

 

Global Financial News

Is the current equity market rally for real as we've seen an increase of 4.5% in two days? Based on some background reading, there is speculation that the current rally was orchestrated to keep investors from bailing given the ongoing stream of negative news. My pay grade does not allow further elaboration.

Morning market futures are pointing to heightened selling once the markets open for trading. The OPEC+ rumors of a 2 million/day cut in oil production is bringing more economic gloom with fears that the recent drop in crude pricing being reversed back to the $100/bbl level.

In Asia, Japan +0.48%. Hong Kong +5.90%. China closed. India closed.
In Europe, at midday, London -1.20%. Paris -0.79%. Frankfurt -0.69%.
Futures at 6:30, Dow -0.80%. S&P -0.78%. NASDAQ -0.76%.

WTI crude has increased to nearly $87/bbl while spot gold in trading at $1722/oz. Bitcoin is a hair above the $20,000 mark.

The 10 Year U.S. Treasury bond yield is moving back up with a quote of 3.72%.

 

Wrapping Up The Blog

Yes, I will be in the GFRC office for most of the day processing consignment and new purchases images. The cellphone is always nearby for phone orders or checking emails/text messages if working outdoors.

Thank-you for stopping by and taking in today's ramblings. I certainly hope to have a new offerings gallery posted for Thursday Blog.

Be well!

 

 

 

 

Tuesday October 4, 2022

Enjoying the Newtown Liberty Seated Dime Collection - Part 3 Gallery

 

Greetings on a Tuesday morning and welcome to the Daily Blog. I'm pleased that you could stop by to view another amazing Newtown gallery display.

Up here in Maine, October is starting to play out as being a tad colder than normal. The morning temperature at 6:00 AM is 36F. A check of the extended forecast indicates night time lows in the mid 30s with the freezing mark arriving by the middle of the month. Overnight temps at the freezing mark are an invitation for freezing rain and even snow. One does not want snow on the ground in October for a simple reason; leaf clean-up. Dropped leaves, if left on a lawn during the winter months, attracts moles which leads to lawn destruction. Secondly, cleaning up leaves in the spring on soft ground (mud season) brings rutting by transport equipment.

The barn project is just a few days from completion at this point. Pete Theberge wrapped up his work on Monday by installing the side door and a railing for the stairs leading to the loft. Gary returns on Saturday to complete the siding application at which time the long project has been successful finished.

In just 10 days, the neighboring Dodson home will be demolished and hauled away. Already, Maine Eco Homes (MEH) has placed a large sign on the road advertising the construction of a new eco-friendly home for the Dodson family. Unfortunately, I will be at the Manchester show during the demolition and unable to document the event with images. Monday afternoon brought the removal of four Johnny2 front loader loads of rock from the agricultural rock pile, by their house. I'm in a race against time to secure as much settler rock as possible before it is hauled away.

 

Enjoying the Newtown Liberty Seated Dime Collection - Part 3 Gallery

Today brings the final installment of the remarkable Newtown Liberty Seated Dime Collection to the Daily Blog and Auction link. The enormity of the Newtown Collection becomes evident when viewing the complete gallery that is now available at the Auction link. Building a complete Liberty Seated Dime set with Major Varieties is a substantial challenge at any grade level given a host of key dates and some "stoppers". Immediately, the big four Carson City dates come to mind (1871-CC through 1874-CC) but let's not forget the low mintage Civil War Philadelphia strikes which present their own challenges. Hiding from common knowledge are several very difficult dates including 1870-S, 1872-S and 1885-S.

The Newtown Collection raised the degree of difficulty by attempting to build a nearly complete Mint State collection. This is a huge challenge with several dates being close to unobtainable. Immediately coming to mind are the 1843 and 1845 New Orleans issues, and again the big four Carson City dates along with the 1885-S.

You are invited to take a few moments from regular morning activities to carefully review the following gallery even if not a Seated dime collector. The Aaron Heintz accomplishment is worthy of extended review. Please don't forget that the entire Newtown Seated dime set will be on display and available for lot viewing at the Whitman Baltimore show.

Now onto the task of creating a description input template for GFRC Online Auctions' staff cataloger, Len Augsburger.

 

Newtown Liberty Seated Dime Collection - Part 3 Gallery

With Legend & Arrows

         1873-CC F-101 PCGS VF35 10C                                           1874-CC F-101 PCGS VG10 CAC 10C    

    

 1873 F-116 PCGS MS64+ CAC 10C             1873-S F-101 PCGS MS64 CAC 10C             1874 F-113 PCGS MS65 CAC 10C   

                

1874-S F-101 PCGS MS62 10C  

 

 

With Legend Resumed

         1878-CC F-101 PCGS MS66 CAC 10C                                      1888-S Unlisted PCGS MS66 CAC 10C      

    

        1891 F-113 PCGS MS67+ CAC 10C                                           1891-O Unlisted PCGS MS66 CAC 10C    

    

         1875 F-121 PCGS MS66+ CAC 10C   1875-CC IW F-111a PCGS MS65 CAC 10C  1875-CC BW F-103a PCGS MS64+ CAC 10C

                

       1875-S IW F-105 PCGS MS63 10C OGH        1875-S BW F-117 PCGS MS65 10C    1875-S BW F-101 PCGS MS64 Gold CAC 10C   

                

        1876 PCGS MS66+ CAC 10C            1876-CC F-116a PCGS MS65+ CAC 10C        1876-S F-108 PCGS MS65 CAC 10C  

                

 1877 T2 F-107 PCGS MS66 CAC 10C          1877-CC T2 PCGS MS66+ CAC 10C            1877-S F-101 PCGS MS65 CAC 10C  

                

 1878 T2 F-109 PCGS MS66 CAC 10C            1879 F-104a PCGS MS67 CAC 10C             1880 F-102a PCGS MS65 CAC 10C  

                

  1881 F-101a PCGS MS66+ CAC 10C             1882 F-104 PCGS MS66 CAC 10C             1883 Unlisted PCGS MS66 CAC 10C  

                

    1884 F-105 PCGS MS67 CAC 10C                 1884-S F-104 PCGS MS66 10C               1885 Unlisted PCGS MS66+ CAC 10C

                

 1885-S F-101 PCGS EF40 CAC 10C             1886 F-113 PCGS MS67 CAC 10C               1886-S F-101 PCGS MS63 CAC 10C

                

   1887 F-111 PCGS MS66 CAC 10C           1887-S F-101 PCGS MS65+ CAC 10C             1888 F-113 PCGS MS66 CAC 10C  

                

  1889 Unlisted PCGS MS66 CAC 10C           1889-S F-108 PCGS MS64 CAC 10C           1890 Unlisted PCGS MS67 CAC 10C  

                

   1890-S F-116 PCGS MS65 CAC 10C         1891-S Unlisted PCGS MS64 CAC 10C

        

 

Global Financial News

U.S. equity market volatility continues with a substantial rally that started on Monday and could extend into today. Driving the rally is a pullback in the U.S. dollar and long bond interest rates. Economic weakness is starting to appear in regular key which is providing hope that the Fed will become more dovish with year ending interest rate hikes. At least that is the story line that is circulating in the financial media.

The day starts with the S&P 500 at an anemic 3,678 and could move higher based on morning market futures.

In Asia, Japan +2.96%. Hong Kong closed. China closed. India +2.20%.
In Europe, at midday, London +1.75%. Paris +2.66%. Frankfurt +2.98%.
Futures at 6:30, Dow +1.16%. S&P +1.42%. NASDAQ +1.85%.

WTI crude pricing has stabilized at $84/bbl which is providing some relief at the gas and diesel pumps. Spot gold has staged a sharp rally with the morning quote at $1717/oz. Just last week, gold was trading as low as $1620.

Bitcoin is up slightly to $19,938.

Key is the drop in the 10 Year U.S. Treasury bond yield to 3.57%.

 

Wrapping Up The Blog

You will find me in the GFRC office for nearly the entire day constructing the Newtown auction input template file for Len Augsburger. This template file captures a host of information that aids the description generation since Len is unable to view the coins in-hand. Of course, key attributes including luster type, the amount of cartwheels, surface conditions, pedigrees, and special die variety commentary will be provided.

Once the Newtown input file is sent to Len, I'm back to regular consignment processing with the Sooner Collection halves becoming the top priority prior to the Manchester show. There is also another 20 piece Seated dime consignment from my own reference collection that needs to reach the price list before that New Hampshire show.

Let's not forget the second complete set of Liberty Seated dimes consigned by Steven Vitale too. Attention must shift to that special offering also.

Please consider a purchase if you could!

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

 

 

 

Monday October 3, 2022

Building the Last Newtown Seated Dime Gallery

and

Deciding How to Split Newtown Collection into Two Auction Events?

 

Greetings and welcome to the Daily Blog on a Monday morning. I'm glad that you could find the time to visit.

Cold is the operative word to describe southern Maine at 5:30 AM. Out outdoor thermometer is indicating 38F and the first time we have been sub 40 degrees since returning from Florida in late April. This cold temperature appears to be seasonally early and hopefully is not a sign of things to come later this month.

I'm thrilled to report that the barn project is now greater than 95% complete with only one side door and siding application on the north wall remaining. Pete Theberge should arrive today with the door (from Hammond Lumber) along with its installation. The stairs to the loft will also see the addition of a railing along the inside wall. At that point, Pete has completed his mission for 2022. Come 2023, I've floated the idea, to Pete, for building a permanent screened in tenting cabin next to the spring pond. The thought of processing coin images by the spring pond is quite compelling along with overnight camping. A cellphone hot spot would enable a remote GFRC workspace in the forest. As usual, these are nothing but ideas, however, ideas are the first step towards building an alternative functional space.

The Yamatins are already back in Boston for starting another work and school week. Their homestead visit was much to brief.

 

Building the Last Newtown Seated Dime Gallery

Construction of the final Newtown Liberty Seated Dime Collection gallery is already underway. The goal is to have this gallery become the highlight of Tuesday's Blog edition. There are roughly 20 coins remaining that require finalized images along with uploading to the Hostway server.

There is little else to say on this topic other than "just getting it done!"

 

Deciding How to Split Newtown Collection into Two Auction Events?

For those who are are not regular Daily Blog readers, you might not be aware that the Newtown Liberty Seated Dime Collection auction sale will be divided into two sessions. The schedule for the first session has been announced with the second session taking place in mid-January after the Winter FUN show.

A key process question is how to split this amazing collection into two equal sessions. I remember the Heritage Auction strategy for the massive Eugene Gardner Collection sale that was conducted in four separate session. The Gardner collection approach was straightforward; dividing each Liberty Seated denomination into four lots with the first, fifth, ninth etc pieces in the first sale. The second, sixth, tenth etc. pieces were placed in the second sale.

I'm considering this approach for the Newtown collection sale. Modeling this approach, within the COIN database, will be attempted today to ensure that there is a balance of key dates in both session. I'm also open to other ideas as long as not requiring an extraordinary amount of effort to model the financials. Key is that an equal amount of reserves are allocated between the two events. My apology, but GFRC and the consignor are not open to more than two auction sessions. Those lots that do not meet reserve, for whatever reason, will move to the GFRC price list and Collectors Corner for incremental marketing and sales.

 

Global Financial News

Little has changed during the weekend in terms of geopolitical tensions. Markets have been reeling from one global crisis to the next along with aggressive Federal Reserve tightening. The next CPI report will be critical for forward guidance on where the S&P 500 will end for 2022. Over in Europe, the Ukrainians continue to win back territories captured by the Russian regardless of Putin's official annexation of four Ukrainian regions. This is all starting to look like a bad movie with the reckless use of the "N" word growing too common.

U.S. equity morning market futures are essentially flat.

In Asia, Japan +1%. Hong Kong -0.8%. China -0.6%. India -1.1%.
In Europe, at midday, London -0.8%. Paris -1.1%. Frankfurt -0.8%.
Futures at 6:30, Dow +0.3%. S&P flat. NASDAQ -0.3%.

OPEC+ is considering more production cuts to sustain crude oil at the $80+/bbl level. This morning's WTI quote is $83.20. Spot gold appears to have made a bottom, for the current cycle, and is slowly gaining ground at $1669/oz. Bitcoin is stuck in a tight trading range at $19,141.

The 10 Year U.S. Treasury bond yield is flat at 3.78%.

 

Wrapping Up The Blog

There is little else to share at this point. Morning shipping will keep the GFRC occupied during the morning hours followed by an eye appointment during the early afternoon hours. Otherwise, Newtown image processing will be the imperative.

Once the Newtown images are completed and the auction lot description template is issued to Len Augsburger, attention will shift back to consignments and new purchases for the 30 Day Price List.

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

 

 

 

Sunday October 2, 2022

October 1 Foliage Update

and

Enjoying the Newtown Liberty Seated Dime Collection - Part 2 Gallery

 

Greetings on a Sunday morning and welcome to the Daily Blog. Thank-you for visiting.

Brisk winds welcome in another southern Maine day. The 7:00 AM temperature is 45F with the forecasted high reaching only 56 degrees. Skies will be clear throughout the day with low humidity.

The Yamatin family has settled nicely into the homestead but must return back to Boston this afternoon. Matt made an interesting observation about being back home. He commented that his childhood home feels "bigger yet smaller" which required an explanation as to the vantage point. Based on Beijing and, now Boston apartments, the homestead accommodations are much larger. However, each room feels smaller that than when growing up given his adult size. Natsumi continues to be a bundle of energy and has already mastered the Battleship game. Their visits are always too brief....

 

October 1 Foliage Update

The Maine autumn foliage color transition is now well underway with peak colors just two weeks away. The various maple species are exhibiting red, orange, gold, and yellow colors while the mighty oaks remain deep green. This can be easily seen in the area behind and slightly to the left of the barn. The foreground is mostly maples and two apple trees while the taller trees in the background are oaks.

The barn siding is moving along slowly. Our contractor was on site for part of the day and completed the eastern and southern sides which are not visible in this image. Pete has promised to return on Monday to install the side door which then enables the siding application to the northern facing side. The barn project is now 90% complete and hopefully, will be completed by this coming weekend. It has been a long journey from the initial permitting in mid-May.

The coastal horizon image was taken at 4:30 PM. The long shadows, from the roadside trees, illustrate how far the sun has dropped in the sky in just one month's time.

Please feel free to click on the below image for inspecting a higher resolution version.

 

Enjoying the Newtown Liberty Seated Dime Collection - Part 2 Gallery

It is again with great pleasure that the second installment of the fantastic Newtown Liberty Seated Dime Collection is being showcased for the GFRC community. Today brings the With Legend dates from 1860 through 1873. This era is challenging in many regards. First are the Civil War years with low Philadelphia mintages along with Mint State San Francisco survivors being rare. During 1871, the Carson City mint begins Seated dime coinage with any choice survivor, regardless of grade, being a prize for present day collectors.

I hope that you can find the time on a Sunday morning to enjoy these gallery contents. Choice dimes abound in this lot with the 1864-S PCGS MS65 CAC and 1865-S PCGS MS63 CAC being substantial highlights. I also love the eye appeal of the 1866-S PCGS MS63 CAC and 1872-CC PCGS VF35 CAC lots. Don't underestimate the rarity of the 1872-S date in Mint State. Unquestionably, this Newtown auction will have something for every passionate Liberty Seated dime collector including yours truly. What an accomplishment by Aaron Heintz.

Please remember that the entire Newtown Seated Dime Collection will be on display at the Whitman Baltimore come the end of October. The owner will be behind the display cases and ready to share set building stories and his impressions of each lot.

 

Newtown Liberty Seated Dime Collection - Part 2 Gallery

With Legend Design Type

   1861-S F-102 PCGS MS62 10C                                                  1863-S F-101 PCGS MS64 10C

    

   1864 F-102a PCGS MS66 CAC 10C                                         1864-S F-101 PCGS MS65 CAC 10C

    

  1865 F-101a PCGS MS66 CAC 10C                                         1865-S F-103 PCGS MS63 CAC 10C

    

1866-S F-101 PCGS MS63 CAC 10C                                           1871-CC F-101 PCGS VF35 10C  

    

 1872-CC F-101 PCGS VF35 CAC 10C                                         1872-S F-101 PCGS MS64 CAC 10C

    

      1860 F-112 PCGS MS66+ CAC 10C            1860-O F-101 PCGS VF35 CAC 10C      1861 Type 2 F-103 PCGS MS66+ CAC 10C

                

  1862 F-101a PCGS MS65 CAC 10C            1862-S F-101 PCGS EF40 CAC 10C                   1863 F-101a PCGS MS63 10C      

                

    1863-S F-101 PCGS AU53 CAC 10C             1866 F-102b PCGS MS66 CAC 10C             1867 F-102 PCGS MS66 CAC 10C      

                

          1867-S F-102 PCGS MS62 10C                     1868 F-101 PCGS MS64 10C                   1868-S F-101 PCGS MS64 CAC 10C      

                

      1869 F-105a PCGS MS66 CAC 10C            1869-S F-102 PCGS MS65 10C OGH           1869-S F-102 PCGS AU55 CAC 10C      

                

       1870 F-105 PCGS MS64 10C                      1870-S F-101 PCGS EF40 10C                    1871 F-102a PCGS MS63 10C      

                

        1871-S F-102 PCGS MS64 10C               1872 F-112 PCGS MS63 CAC 10C        1873 NA C3 F-101a PCGS MS63 CAC 10C

                

1873 NA O3 F-102 PCGS MS61 10C

 

 

Wrapping Up the Blog

The homestead feels a bit cool this morning which dictates starting the wood stove as the next morning activity. Afterwards, I'm heading down to the spring pond to skim fallen leaves.

The balance of the morning will find me in the GFRC office responding to overnight orders and continuing to finalize the balance of the Newtown Seated dime images. My goal is to have the last gallery published in Wednesday's Blog followed by an input template to Len Augsburger shortly there after.

Please consider a purchase from the price list before GFRC hits the show circuit next week. If wishing to sell or consign coins, please contact me at your convenience. I'm always ready to listen to divestment needs with flexible proposals.

Thanks again for visiting the Daily Blog. Be well.

 

 

Saturday October 1, 2022

LSCC E-Gobrecht Ad - Newtown Auction Lot Viewing at Whitman Baltimore Show

NH Coin Expo Arrives October 13

and

GFRC-Lite Open for Consignments - See the Details

 

 

Greetings on the first day of October 2022 and welcome to the Daily Blog. Your ongoing readership is sincerely appreciated.

October is a transition month. After exiting the ideal autumn month of September, October brings a rapid temperature, foliage, and daylight transition for southern Maine. We enter October with daytime highs still reaching the low 60s and much cooler evenings. Halloween marks the potential for the first snow of the forthcoming winter season. By the end of October, all of the trees except the mighty oaks will have shed their leaves leaving a partially barren landscape until early May 2023.

October brings a busy GFRC coin show month with the NH Coin Expo (Manchester NH show) and the all important Whitman Baltimore show. GFRC is locked and loaded with adequate inventories for both events but still needs to constantly buy premium coins and insource quality consignments. This is the nature of the business model whereby selling top quality coins at fair prices drives substantial volumes. As a result of this business model success, GFRC is undergoing a product mix transition with sub $300 coins being shifted to GFRC-Lite. More on that topic shortly.

Over at the Raymond homestead, the Yamatin family arrived on Friday evening and is sound asleep while the Blog is being composed. Today brings one-on-one time with Matt and Natsumi as we tour the trails and spring pond along with the nearly completed barn.

 

LSCC E-Gobrecht Ad - Newtown Auction Lot Viewing at Whitman Baltimore Show

Friday brought time in the graphic design department towards building an eye catching advertisement for the October E-Gobrecht edition as published by the Liberty Seated Collectors Club. The goal is to make the GFRC and LSCC communities aware of the Newtown Liberty Seated Dime Collection auction sale and lot viewing opportunity at the Whitman Baltimore show. The display of a top ranked and complete Liberty Seated Dime collection is certainly a noteworthy event and we hope for many visitors to the GFRC booth on Thursday October 27 and Friday October 28.

Following is a preview of the new GFRC advertisement.

 

NH Coin Expo Arrives October 13

The Manchester NH coin show arrives in roughly ten days given the planning and inventory packing efforts that precede the show.

If wishing to drop-off consignments or having certain items in inventory displayed at the show, please contact me no later than next weekend. If a large consignment is being transferred, I will bring adequate transport boxes.

If seeking to sell coins at the Manchester show, please visit booth 607 first with your holdings. An early notice of the potential sale contents would greatly speed up my evaluation as coin shows are typically non-stop busy.

If there are any questions concerning a new relationship with GFRC, please don't hesitate to call or email with inquiries.

 

GFRC-Lite Open for Consignments - See the Details

The GFRC business model has resulted in year-on-year growth since 2014 inception. Each year brings a larger Daily Blog community following and increased numismatic volumes. Since being operated by a husband and wife team, the GFRC staffing is limited. In the past few months, a decision was made to transfer lower priced coins to a franchised operation. In that manner, GFRC clients will have access to a full range of numismatic services for coins valued from $50 through $50,000.

The GFRC-Lite franchise start-up is moving along to schedule and will make its debut at the Whitman Baltimore show during the latter part of October. The time has come to announce that GFRC-Lite is now open for sub-$300 consignments. Those consignments can be shipped directly to Rich Hundertmark in North Carolina. I will continue to service regular clients from the Raymond, Maine and Venice, Florida offices for coins priced over $300.

Some consignors have asked about the fate of their sub-$300 coins currently in GFRC inventory. Please don't worry as those will remain with GFRC until sold. For new GFRC consignments with the majority of coins being valued over $300, it will be business as usual. I will continue to support a small number of lower priced coins, especially if CAC approved. For consignments that are 80% or more priced under $300, those should be shipped to the GFRC-Lite franchise as they will receive faster turnaround and display at smaller regional shows.

Please understand that coins sold by the GFRC-Lite franchise will not be listed in the GFRC Sales Archive. The GFRC and GFRC-Lite website and COIN databases will be separately managed though the collective oversight will be provided by Gerry.

 

Hi Gerry,

Down here in North central NC I’m readying for potentially heavy rainfall and gusty winds on Friday as Ian approaches. Luckily this weather event will be nothing like the devastation Florida incurred, still as a transplanted Jersey boy I’m used to nor’easter storms and how to prepare and navigate through these events.

In the meantime, I have been busy attributing, pricing, and grading the Dr Glen Peterson Seated Half Dollars that were sent last week as the initial GFRC-Lite consignment. That process will be complete sometime mid next week including loading all coins into the GFRC COIN system.

Additionally, as you alluded to in the Thursday blog, GFRC-Lite , “Lite” has now OPENED THE CONSIGNMENT WINDOW for additional coins that will be first available for sale at the Whitman Baltimore Show. Additionally, GFRC-Lite will have a table at the well-attended Annandale, Virginia show that runs December 10th and 11th.  Interested consignors can learn about the GFRC-Lite process by reading the below consignment policy.

In the interest of complete transparency, consignors should know that at present the “Lite” website is under construction with the targeted goal of being commercially complete (ability to sell coins on-line) somewhere in the 1st half of December. The Lite website will have a “look and feel” like the GFRC website but scaled down to accommodate the raw and under $300 graded coins that Lite will be selling.

                                                 GFRC–Lite Consignment Process
The consignment process for GFRC-Lite will be like the GFRC process. Consignors can refer to the GFRC policy as the base, with differences (and noted similarities) as follows;
                                           
GFRC-Lite Commission Rate Structure

Final Sales Price       Commission Rate
$0 to $100                          15%
$101 to $500                     12.5%
$501 and above                 10.0%

Minimum Value: Unless part of a more substantial consignment, the minimum value per coin is $50.

Coinage Wanted: GFRC- Lite will handle the same Classic Type coinage that GFRC handles, but at a lower price point focused on accepting raw coins ($50 and above) and lower priced Third Party graded coinage ($50 to $300).

Return policy: Same as GFRC

Right to reject a consignment - Same as GFRC

Exclusive consignment marketing - Same as GFRC

GFRC-Lite Review, Consensus Pricing, and settlement - Same as GFRC (NOTE: coins will be listed on the GFRC–Lite website upon pricing approval when the website is operational)

Consignment Proposal: Contact Rich at 973-271-2615 (voice or text) or email Rich at richhunderr1@gmail.com to discuss potential consignments.

Mailing Consignment:

Please ship by U.S. Registered Mail - 2 Day Priority Mail Express is highly recommended.
Please insure your coins to an insurance amount you are comfortable with. Please email the tracking number to Rich at richhunderr1@gmail.com.
Please include a package list of the enclosed coins including: date, denomination, grade, grading service (note “ raw “ if applicable).
Please also send Rich the USPS tracking number for added tracking. I will contact you when the package is delivered.

Please ship to the following address: 

Richard Hundertmark / 
648 Hanes Mall Blvd. / PMB 281 / 
Winston Salem, NC 27103-5670

ADDITIONAL SHIPPING NOTES:

Please note that the mailing address box is in a secure UPS store location. The UPS store workers have agent signature authority for all packages sent to my address. Additionally, there is always someone to accept and sign for packages and the UPS store quickly notifies me when any package is received.

Additionally, it is most secure to send the package to my name as above, DO NOT address to the business name.

Also, it is my experience that shipping on a Monday or Tuesday is most efficient. Weekend postal workers are sometimes lax and for whatever reason packages have a greater tendency to get lost or delayed on the weekend. Shipping 2-day Express Priority early in the work week alleviates much anxiety.

And lastly, thanks to all that are considering working with GFRC–Lite, I look forward to discussing the numismatic items you are considering for sale and assisting in helping you meet your collecting objectives.

 

Wrapping Up The Blog

Nearly all of Friday's gallery items have been posted to the 30 Day Price List with the majority already being on hold. Thanks for everyone's help, the September revenue forecast was essentially achieved.

With the Yamatins visiting the homestead today and tomorrow, the GFRC office time will be unpredictable. However, the cellphone will be in my pocket at all times for phone orders. Email orders will be responded to within several hours as we are remaining at the homestead and trails.

Thank-you for visiting and I hope that today's edition has brought everyone up to speed on the new GFRC-Lite franchise operation.

Be well!