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Gerry's Daily Blog

Featured Coins of the Day

1839-O F-103 PCGS AU53 CAC 10C
Gerry Fortin $850


1889 F-116 PCGS MS65 CAC 10C
Newtown $795


1827 JR-11 PCGS AU55 CAC 10C
$875


1887-S F-101 NGC MS65 CAC 10C
$925


1864 NGC MS64 CAC 1C
$765


1875 F-102 PCGS PR63 CAC 10C
Gerry Fortin $600


 

 

September 22, 2020

GFRC - Table 801 - Manchester NH Coin Expo

and

Pikes Peak Collection - Capped Bust Half Dollars Galore

 

Greeting and welcome to the Blog on a Tuesday morning. We have a really big show for you today! Memories of Ed Sullivan for older readers...

Southern Maine weather will be overcast and just plain dreary after days of continuous sunshine. How easy it is to be spoiled! The weather will be conducive for spending the entire day in the GFRC office and continuing to load new offerings onto the price lists. The consignment queue is becoming thin but help is on the way from the Twin Lakes and AuburnNY Accordian Collections.

In Monday's Blog edition, I promised a picture of the driveway side maple that had already seen a complete color transition. Note the color contrast against the surrounding oak tree backdrop.

This maple tree changes colors well ahead of other maples on the property. An explanation is potential stress due to its location adjacent to the driveway. A portion of its root system is under the asphalt, therefore relying exclusively for water or nutrients via the roots in the mulch bed. I suspect that most of the leaves will be on the ground by the time I leave for the Manchester NH Coin Expo later next week.

Driveway Maple - Early Autumn Color Transition

 

GFRC at Table 801 - Manchester NH Coin Expo

Monday brought a busy communications day with Ernie Botte concerning table selection for the Manchester NH Coin Expo and ramping the GFRC marketing campaign with the fine staff at CDN Publishing.

Consistent with Covid-19 regulations, Ernie has redesigned the bourse floor to include spacing between all dealer tables. Between the new layout and questions concerning dealer attendance commitments, past table locations are being shuffled. When presented with an opportunity to move to Table 801 located directly adjacent to the digital entrance, I immediately agreed and could not be more pleased.

GFRC will have its usual six cases of quality inventory offerings on display at the Manchester show. The GFRC table is easy to spot on a bourse floor due to the dark blue table aprons with gold lettering.

A reminder to show attendees and GFRC customers. I don't have telepathic capabilities. If wishing to see certain coins in GFRC inventory, please email me well in advance of the show to allow for those coins to be packed.

Consistent with show regulations, I will be wearing a face mask at all times and glasses. A Purell bottle will be available between cases for hand sanitizing before handling GFRC holdered coins. Otherwise, it will be business as usual at the GFRC table.

Concerning Thursday afternoon dealer setup at 3:00 PM, I am expecting dealers to be in a buying mood and aggressively shopping during bourse setup. Since working this show on a solo basis, it takes considerable time to load six cases with coins along with launching the computer infrastructure to enable price quotes. I'm expecting the typical dealer behavior of walking up to my open cases and reaching in with the "how much is this?" question. Being proactive, I will have pen and stickers ready. If dealers wish to have an price quote, those will be accomplished after I am done loading the cases. Dealers will be asked to write their initials on a sticker and place on the face of the holder. Once I am completely setup, I will be glad to quote prices in an orderly manner to those who took the time to label coins.

 

GFRC at Table 801 - Manchester NH Coin Expo

September 30 - October 2, 2020

 

Pikes Peak Collection - Capped Bust Half Dollars Galore

GFRC is pleased to be offering the final installment of the Pikes Peak Collection consignment. This installment includes a large lot of Capped Bust half dollars with many having the Skidaway Island Collection pedigree on NGC labels. Skidaway Island is located near historic Savannah and contains a famous park with trails through a martime forest. The Skidaway Island Collection was sold by Heritage Auctions during 2015 and contained 437 different Overton die varieties. The following was located on the COINWEEK website as background information.

HERITAGE AUCTIONS INTRODUCED AN EXCEPTIONAL COLLECTION OF BUST HALF DOLLARS TO PEDIGREE COLLECTORS AT THE DALLAS INVITATIONAL PNG US COINS SIGNATURE AUCTION AT THE GAYLORD TEXAN HOTEL ON FEBRUARY 26 – MARCH 1, 2015. THE COLLECTION WAS GRADED BY NGC WITH “SKIDAWAY ISLAND COLLECTION” ON THE LABEL. THE BUST HALF DOLLARS HAVE EXCEPTIONAL EYE-APPEARANCE AND ARE A TRUE “COLLECTION” VERSUS A “HOARD” OF COINS. THE COLLECTION INCLUDED 437 OF THE OVERTON NUMBERS AND APPROXIMATELY 500 BUST HALF DOLLARS IN TOTAL. OWNERSHIP PREVIOUSLY RESIDED WITH A PRIVATE COLLECTOR WHO REMAINS ANONYMOUS.

All NGC holdered offerings other than the 1812, 1832 O-122, and the 1838 Reeded Edge half are Skidaway Island Collection pieces and an important opportunity for those interested in Overton die varieties.

Look for this lot to start reaching the price list later today and into Wednesday.

Pikes Peak Collection - A Host of Skidaway Island Collection Pieces

      1806 PCGS VF20 50C                              1809 III O-107 NGC VF25 50C                   1812 O-10x NGC EF45 CAC 50C

            

 1817 O-110a NGC VF25 50C                    1819/8 O-101 PCGS VF30 CAC 50C                  1822 O-109 NGC EF45 50C  

            

1822 O-112 NGC VF25 50C                      1826 O-104 NGC EF45 50C                       1826 O-120a NGC EF45 50C 

            

1828 O-102 NGC AU50 50C                      1829 O-119 NGC AU50 50C                       1830 O-115 NGC AU53 50C 

            

   1831 PCGS EF40 50C                            1832 O-111 NGC AU53 50C                        1832 O-122 NGC EF45 50C

            

1833 O-113 NGC AU53 50C                      1835 O-105 NGC AU53 50C                           1838 NGC VF35 50C      

            

 

Upcoming Twin Lakes and AuburnNY Accordian Collection Consignments

The Twin Lakes Collection is shipping another PCGS AU58 consignment today. The lot contains 40 piece with about 50% being CAC approved. I'm looking forward to new inventory for fleshing out the lower populated GFRC price lists. Included are Indian cents, 3 Cent silver, Barber dimes, Standing Liberty quarters along with a few Seated offerings and Peace dollars.

The AuburnNY Accordian consignor contacted me yesterday with a proposed better date U.S. gold consignment. The offerings will be nearly all $10 With Motto Liberty gold dates, many with CAC approval. I'm expecting that consignment to arrive early week.

 

Global Financial News

Unsettled times continue for global investors. Even the yellow precious metal is not immune to a sudden price drop as took place on Monday. Spot gold dropped $60/oz from its opening quote to briefly trade below the $1900 level. Pricing recovered during the afternoon. Today's opening quote stands at $1910/oz. Crude oil is back below the $40 level at $39.93/bbl.

Following are morning market futures courtesy of Seeking Alpha. Lately, the morning futures have not been accurate with respect to the day's trading activities. Investors are spooked by a Covid-19 pandemic that will not subside in Europe.

In Asia, Japan +0.2%. Hong Kong -1%. China -1.3%. India -0.8%.

In Europe, at midday, London +0.4%. Paris +0.5%. Frankfurt +1.1%.

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

 

Wrapping Up The Blog

As mentioned earlier, Tuesday brings a long day in the GFRC office. Loading the price list with raw and lower valued offerings is an imperative before major consignments begin to arrive. After a brief sales spurt, September is back to being on the sleepy side. The direction of the numismatic market is difficult to judge during this timeframe but I just keep plugging along in anticipation of major forthcoming consignments.

Please consider a purchase as days in the GFRC office without phone orders or email inquiries can get boring.

Again, thanks for checking in at the Blog. Please remember to take care of physical and mental health as both are precious!

See you on Wednesday morning at the Blog.

 

 

 

September 21, 2020

Major Liberty Seated E-Bid Auctions on the Horizon

 

Greeting and welcome to the Blog as we start another regular work week. Thanks for checking in.

While today's Blog edition is composed, autumn is on full display in the front landscaping. The driveway maple's seasonable transition is complete with bright red-orange colors. I will take a photograph shortly and feature in Tuesday's Blog. Burning bushes have also changed into their late September crimson red shades. The fragile birches are quickly moving to their end of season yellow coloring. Only the mighty oaks still remain green. Within two weeks, leaf blowing will be the next outdoor activity.

Speaking of outdoor activities, the perimeter landscaping has been finalized for 2020. Sunday brought the transport of two yards of 3/4" stone to the prepared area under the sunroom. What a relief to have accomplished this final task and clearing the driveway of stone piles. The driveway is unencumbered and ready for the first snow of the season. Following is a picture of the final chapter in the 2020 perimeter landscaping effort.

Completed 2020 Perimeter Landscaping Project

 

Toxic is probably the best description for the state of U.S. politics. A quick morning scan of the online "news" media is troublesome. We appear to have migrated to a win at all cost culture with violence and intimidation being threatened. 2020 is a terrible year with the finale being written during the next 120 days. As usual, my advice is to stay focus on those activities that bring a sense of peace and happiness. Online news junkies should be well aware of the negativity and the potential impact on mental well being.

 

Substantial Liberty Seated E-Bid Auctions on the Horizon

GFRC is thrilled to report that two huge new consignments are under discussion. Both consignments involved substantial quantities of CAC approved Liberty Seated coinage. In both cases, the collectors desire to redeploy their numismatic capital towards purchasing new homes. I see a trend of those at or approaching retirement age seeking winter homes in the southern states. Eventually, they sell their nothern or upper mid-west homes for a full time southern residence.

I can report that both consignment sales will be conducted via the new GFRC E-Bid Auction format. Community members have watched the collector friendly GFRC sales approach and the fresh concept of no buyers premiums! Sellers only pay a regular consignment commission for their lots that sell at an E-Bid Auction. This sales method places more monies in consignor's pockets given GFRC's low operating overhead.

Presently, the auctions are targeted for mid to late October and mid-November. Both sales will be populated with a high percentage of CAC approved Seated coinage that should bring spirited bidding. Collectors are encourage to save up their spare change for these events as the combined retail value is estimated at $250,000.

 

GFRC Consignment Queue Status

The week starts with four main consignments in the processing queue along with a substantial amount of raw coins to be pulled from Dansco albums. Here is a quick summary of what to expect for new offerings before GFRC prepares for and attends the Manchester NH Coin Expo.

Pikes Peak Collection - An eighteen piece Capped Bust half dollar lot

Osprey Collection - An eclectic mixture of early type coins, most being low grades

Lenny Rizzo Collection - A pleasing new offering of Capped Bust and Seated coins with half being CAC approved

White Pines Collection - This offering has already been announced and itemized in the Blog. The consignor requested that I submit the non CAC approved coins to CAC before selling. This was done on Satuday resulting in a delay of the offering. While the coins are being evaluated in Far Hills NJ, I will process the images and finalize pricing. This consignment will post early next week once CAC results are known.

 

Global Financial News

There is little optimism to be found in global equity markets. We start the week with market futures being solidly negative. The malaise is rampant in Asia, Europe, and the United States. Could fears of a contested U.S. presidential election and associated violence be driving investor fears? Following are market futures courtesy of Seeking Alpha.

In Asia, Japan +0.2%. Hong Kong -2.1%. China -0.6%. India -2.1%.

In Europe, at midday, London -3.4%. Paris -3.2%. Frankfurt -3.2%.

Futures at 6:20, Dow -2.1%. S&P -1.9%. Nasdaq -1.9%

Spot gold has pulled back slightly to $1930/oz while crude oil is holding onto the $40 level at $40.37/bbl. The 10 Year U.S. Treasury bond yield has moved down to 0.66%. I use the Treasury bond yield as risk adverse barometer. If the yield moves below 0.64%, there is a flight to safety of U.S. Treasuries.

 

Wrapping Up The Blog

Monday brings a full day in the GFRC office. There is a substantial amount of morning shipping followed by an afternoon of Pikes Peak image processing. If all goes to plan, I will have a large Capped Bust half dollar client gallery for Tuesday's Blog.

Weekend sales could be characterized as partially quiet like partially sunny skies. September is always an odd month on the numismatic calendar and this year is no different. I'm working diligently to add more new offerings to the 30 price list. That effort is bearing fruit with 150 offerings as of this morning.

Purchase orders and consignment proposals are sincerely appreciated. Please call or email to discuss what is under purchase consideration or a potential consignment. I'm also all ears if you have coins to sell that will fit into GFRC product lines.

Wishing everyone a safe day. Please focus on happiness and emotional well being.

 

 

 

 

September 20, 2020

Maine Autumn Foliage Transition Report

and

More Carson City Coinage from Murphys Collection

 

Greeting on a Sunday morning and welcome to the Blog. Thank-you for visiting with me.

Fantastic and absolutely perfect are best to describe current southern Maine autumn weather. How I enjoy working outdoors in low 60 degree sunshine and low humidity. Today's weather will be a "carbon copy" of Saturday's. I was up early at 4:00 AM to get a head start on the Murphys Collection client gallery. The outdoor temperature, at that time, was a cool 34F but the homestead was toasty warm due to solar heating from the prior day.

I love composing the Blog on a Sunday morning as there is no time pressure. Without morning shipment preparations, I have an incremental four hours of time to work with at a relaxed pace. Let's get on with today's edition.

 

Southern Maine's Autumn 2020 Foliage Season Update

This year, I am documenting the Autumn 2020 foliage season in the Blog. Last Sunday brought the second of weekly panoramic images taken from the back deck to capture autumn's color progression.

Today's image illustrates increased color progression against a clear blue sky backdrop. The low humidity is readily evident in the below image. One of the two maples on the right has now turned a bright red. Gold, crimson, and yellow colors are becming more apparent. If looking carefully at the lower right in front of the settler's wall, grass is being to sprout. The stone wall is providing enough shade to allow moisture to remain in the ground and activate the grass seed. Unfortunately, unshaded areas dry out immediately after the limited rain and have yet to produce any grass seed germination.

We are now less than a month away from peak foliage colors. I have a feeling that next weekend's horizon capture will have more intense colors as the beginning of October approaches.

Please feel free to click on the images to access high resolution versions.

 

Southern Maine - Autumn 2020 Foliage Status - September 20, 2020

Southern Maine - Autumn 2020 Foliage Status - September 13, 2020

Southern Maine - Autumn 2020 Foliage Status - September 6, 2020

 

Wrapping Up Perimeter Landscaping for 2020

Saturday's autumn weather was much too nice to spend the afternoon in the office writing coin descriptions. By 1:00 PM, my attention shifted to wrapping up the last of the homestead perimeter landscaping projects. The area under the elevated sun room is ideal as a firewood seasoning location. Over two decades, weeds had compromised the old weed barriers resulting in an eyesore. No amount of Roundup could kill the root systems that progressed under the weed mats. The solution was to completely dig up the area to a depth of four inches and install new a fresh weed barrier and a thick layer of 3/4" stone.

Here is an image taken with most of that area being dug up. Before calling it a day on Saturday, the entire area was prepared with new weed mat installed. Several tractor cart loads of stone were transported and laid into place to secure the barrier. Today brings multiple loads of stone to finalize this project. The removal of the patio bricks along with their clean-up and repositioning will be delayed until 2021. My heart wishes to spend more time improving the Ledge Hill Trails area for daily autumn walks down to the natural spring. A small dam and waterfall project is currently in the planning phase for the first natural spring as a learning exercise for the second large spring to be uncovered next summer.

Last of the Perimeter Landscaping Projects for 2020

 

More Carson City Coinage from Murphys Collection

The Murphys Collection is back with yet another strong consignment that features Carson City coinage other than an 1844-O Doubled Date Seated half.

Please pay special attention to the opening highlights which include an 1875-CC WB-1 half with Bugert's R6 rarity rating. This piece has mirrored fields that are partially toned a rose-gold. To the right is a super original 1875-CC WB-10 half with CAC approval. Mixed into the lot are the popular 1844-O double date and an 1878-CC Morgan with 95 degree reverse rotation left. The 1844-O was previously sold by GFRC into the Murphys Collection. That record is available in the Sales Archive.

First Right of Refusals are always welcomed on these Murphys offerings and any other client gallery when posted in the Blog. Look for this lot to reach the price list on Monday or Tuesday.

 

Latest Carson City Coinage Offerings from the Murphys Collection

1875-CC WB-1 R6 PCGS AU50 50C                                               1875-CC WB-10 PCGS EF45 CAC 50C

    

     1877-CC PCGS MS63 25C                                              1844-O Doubled Date PCGS VF30 50C

    

           1877-CC PCGS VF25 25C                      1877-CC WB-15 PCGS VF25 50C               1878-CC 95 Deg Rev PCGS EF40 $1   

            

 

October Consignment Window is Wide Open

As of this morning, there are no major "firm" consignment commitments for the October and November timeframe. I am in discussions concerning a substantial lot that would require the E-bid Auction online platform.

If you have been contemplating the thought of rationalizing a personal collection towards raising fresh numismatic capital, GFRC can help. New offerings are the lifeblood of any numismatic business. The marketplace is competitive and an ideal time for consignors to secure the best possible terms. GFRC brings its unique business model and personalized service into play for each consignor. I will not compromise on commission rates to secure consignments. However, the advice and guidance are special service attributes that allow consignors the ability to sit back and relax when their coins are being sold.

 

Wrapping Up The Blog

I hoped that you've enjoyed today's Blog edition.

Sunday schedule includes working in the office until 10:30 AM loading the balance of the City By The Bay Collection pieces to the price list along with those of Dr. Glenn Peterson. Afterwards, Murphys Collection will be loaded into the COIN system with pricing recommendations submitted to the consignor for approval.

Thanks again for stopping by at the Blog.

 

 

 

 

 

September 19, 2020

City By The Bay Collection Duplicates to Consider

and

More Top Quality Oakdale U.S. Gold

 

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

The next three days in southern Maine will be just spectacular weather wise. Keeping me in the GFRC office will be very difficult as I live for ideal outdoor working weather. Starting today, skies will be cloudless for seventy-two hours along with low humidity. Daytime highs will be in the low 60s and dropping into the low 40s for overnight sleeping. The homestead perimeter landscaping project will see attention this afternoon and on Sunday morning. Meticulous clearing of the Ledge Hill trail to the natural spring is a second agenda item.

 

GFRC New Offerings Posting Strategy for Next Ten Days

GFRC customers, who frequent the price list, will notice that raw coins are being posted. There is a substantial amount of raw coins that have accumulated in the office safe as my tendency is to post TPG holdered coins first. Yes, this is an operating weakness on my part as there are still consignors who wish to sell raw coins. Moving forward through the Manchester NH Coin Expo timeframe, I will be posting a balance of holdered and raw coins to the price list towards making a dent in the accumulated inventory in the safe. By their nature, raw coins tend to be lower priced or have technical issues that hold back TPG certification. I will be calling them as I see them....

 

City By The Bay Collection Duplicates to Consider

A new "duplicates" consignment from the City By The Bay Collection recently arrived and was placed at the top of the price list posting queue. Four of the six consigned pieces were purchased from GFRC which means that images and prior descriptions exist in the COIN database. These situations save me considerable time and facilitate rapid movement into the price list. Therefore, I give these types of consignments a fast track through the GFRC office.

Following are six quality Liberty Seated coinage duplicates to consider on a Saturday morning. The obvious highlight is a choice original 1861-S CAC approved Seated quarter that should garner serious attention. This piece is formerly from the Saw Mill Run Collection and last appeared on the GFRC price list during June 2018. Its stay on the price list was brief before being purchased by the City By The Bay Collection. The 1864-S dime is a quality item that comes from outside the GFRC community. The 1874-S and 1889-S dimes are from my personal collection and make a new appearance. The 1874-S F-102a is also the Greer plate coin for the Small Thin S die variety. As a Liberty Seated dime researcher, I hope that we can maintain important plate coin pedigrees. I'm doing my part by continually recording these pedigrees within the descriptions and Sales Archive.

 

City By The Bay Collection Duplicates to Consider

1861-S, PCGS VF20 CAC 25C

   1864-S F-101 PCGS EF45 10C                   1871-S F-103 PCGS AU50 10C                      1874-S F-102a PCGS AU50 10C

            

 1889-S F-101 NGC AU58 10C                        1876-S NGC MS63 25C        

      

 

More Top Quality Oakdale U.S. Gold

The Oakdale Collection consignor has become a steady source for quality U.S. gold. Following are three new arrivals to consider. We open with a difficult 1855 Type 2 gold dollar with pronounced green-gold coloring and CAC approval. The 1894 $10 eagle brings PL fields to the price list along with pretty orange-gold shades. A 1901 PCGS MS63 CAC approved eagle rounds out the new offerrings.

Look for these pieces to reach the price list today. Already, there has been an inquiry on the 1894 eagle.

 

More CAC Approved Oakdale Collection U.S. Gold

1855 Type 2 PCGS AU55 CAC G$1

1894 PCGS MS63 CAC G$10                                                   1901 PCGS MS63 CAC G$10

    

 

Getting Back to Dr. Glenn Peterson Dansco Album Offerings

The following three Liberty Seated halves originated from Dr. Peterson's Dansco album and were sent to PCGS for certification. All were "bagged" by PCGS to my chagrin. I've decided to sell these as raw with an accurate explanation of the surface considitions that PCGS did not like. Prices will be set accordingly. These Seated halves originated from an Dansco album and will most likely be heading back into another Dansco album collection.

 

Dr. Glenn Peterson - Dansco Album Seated Half Dollar Offerings!

 1843 WB-5 Raw AU53 50C                      1844 WB-14 Raw EF40 50C                      1866 Motto Raw AU55 50C

            

 

GFRC Table Location Status at the Manchester NH Coin Expo

Friday brought a letter confirmation from Ernie Botte that GFRC is ready to go for the Manchester NH Coin Expo. I've paid in full for a corner table and waiting for the table assignment with the show starting in less than two weeks. A quick email exchange with Ernie revealed that he is still working through the list of attending dealers and trying to wrap up attendance commitments. Based on which dealers show-up for the event, GFRC may be able to garner an improved table location closer to the entrance. As soon as I am assigned a location, an announcement will be shared in the Blog.

 

Consignments Wanted Plus 85% CAC Buyback

85% CAC Buyback

Friday brought a second inquiry concerning the GFRC 85% CAC coin buyback program. The subject coin is an important U.S. gold piece and presently waiting on the client for his decision. The client was concerned that I would not honor the 85% CAC buyback commitment given the high value of the coin. Please let me be clear. GFRC will buyback ANY CAC approved coin it has sold to customers at 85% of the purchase price. I need as many CAC approved coins in inventory as possible in support of the upcoming CDN Publishing marketing campaign.

Consignments Wanted

A new consignment window arrives in the October timeframe. The Twin Lakes Collection has committed a thirty-two piece PCGS AU58 consignment that includes a host of duplicates. About half the lot is CAC approved. This consignment ships early next week and will be the first lot to be processed after the Manchester show. Otherwise, I am soliciting your consignments whether a small three to four piece lot or a substantial collection.

CAC submissions are possible for those consignments that are substantial and warrant a trip to Far Hills, NJ. Collections that have been off the market for at least five years are prime candidates. Let's remember that if you have purchased a coin via major auction house in the past two or three years, there is a high probability that these coins have already been reviewed by CAC. I wish to submit coins that have a reasonable chance of being stickered.

 

Wrapping Up The Blog

The gravitational pull from the outdoor landscaping is already impacting my psyche. The front yard is a bird playground with much activity outside the office window. I have a full morning workload including order shipments, a CAC submission, and price list postings before spending part of the afternoon working in the yard.

Thanks for checking in on an autumn weekend morning. Please remember to be safe and well.

 

 

 

September 18, 2020

Welcoming Back a GFRC Friend

and

Consolidation of Gold Prices is Positive Development

 

Greetings and welcome to the Blog on a Friday morning. Your daily visits are sincerely appreciated.

I awoke early to an unexpected surprise; rain! Though not a substantial amount, the showers are a welcome sight. After spending Thursday afternoon moving the firewood into the garage and cleaning branches and pine cones from the front landscaping, the earth's dry conditions were readily apparent. Ant hills are multiplying quickly in the parched ground. The brown grass is crispy with dust everywhere when using the John Deere tractor.

Today's Blog edition will contain some personal commentaries as I don't have a substantial amount of coin images or GFRC news.

 

Whitman Terminates Efforts for Replacement Winter 2020 Baltimore Show

Thursday brought an email from Whitman's Lori Kraft announcing that efforts for finding an alternate location for the Winter Baltimore show had not been successful. She mentioned that 60% of dealers had responded on a positive basis towards attending a "Southeast" located show. Securing an appropriate sized facility plus dealing with Covid-19 restrictions proved to be too challenging. Instead, Lori closed her announcement by promoting the Spring 2021 Baltimore show in late March.

With the Fall Long Beach show canceled, all eyes now turn to the January 2021 Winter FUN show in Orlando. GFRC has financially committed a corner table at this scheduled show. I will be flying solo and without David Perkins as a table mate if the FUN show show is held.

 

Welcoming Back a GFRC Friend

The year 2020 is one that most of us will wish to forget. Between Covid-19, riots, and a contentious presidential election with excessive media drama, it is difficult to remain positive and happy. If spending time online, we are quickly surrounded by doom and gloom.

I've done my utmost, in the Blog, to steer clear of that doom and gloom and continue writing in a positive and uplifting manner. As a role model, I've dramatically reduced time on media portals and encourage readers to do the same. During 2020, seeking happiness has become a managed activity and not sometime we just take for granted. If appears that my daily ramblings are having an impact. Thursday brought an email from a semiconductor industry consultant who is also a Blog fan. He shared the following.

Hi Gerry,

Awhile back you had talked about getting away from the news media for the sake of one's mental health.  I had been watching the nightly news every day and found myself anxious in the evening when I was in a good mood most of the day.  I stopped watching the nightly news but continue to skim the daily paper, taking in the news in the doses I want. 

It has really helped!

Thanks for the good advice!

Later in the day, my heart was again warmed by an email from a GFRC client who had cut ties with me. His challenges with depression had been exacerbated by the state of the news media and Covid-19 leading to an unpleasant email event. I'm thrilled to report that this individual is back! After posting two scarce $5 U.S. gold pieces on Thursday afternoon, this individual has purchased one of those offerings. He indicated that steps have been taken to deal with his depression and he is feeling much better.

Bottomline, we are a community and must take care of each other. I'm doing my small part by writing the Blog and attempting to remain positive about life and sharing basic activities concerning being close to the land and numismatics. Secondly, I work hard to offer great coins at fair prices for supporting those who wish to rotate collection inventories via the consignment business model. The latter point is taking hold as GFRC's Trading Desk activity stands at a record 14% of sales through September 2020. What this means is that 14% of all GFRC revenue results from consignors using their available credit to make incremental GFRC purchases.

 

Early $5 U.S. Gold New Purchases

Recently, I took in two scarce $5 U.S. gold dates on a trade basis. These pieces were posted to the price list yesterday afternoon at modest mark-ups. It only took several hours before both pieces were purchased. Again, an old GFRC friend purchased one of the two pieces. I'm so pleased to have him back in the fold.

Early $5 U.S. Gold New Purchases

        1850 PCGS AU53 G$5                                                       1874-S PCGS VF30 G$5 - Rare Date

    

 

Last of the Pikes Peak Collection Seated Halves

Following are three quality Liberty Seated halves from the Pikes Peak Collection and the last of his Seated offerings. Remaining is a fairly large lot of Capped Bust halves to be posted next week. The Seated halves are posted to the price list and I see that an overnight order has arrived for the 1878 half.

Last of the Pikes Peak Collection Seated Halves

1872  PCGS EF45 50C                                1872  PCGS VF25 50C                               1878  PCGS VF35 50C 

            

 

Consolidation of Gold Prices is Positive Development

I've been carefully monitoring the behavior of the current spot gold rally and sharing my insights in the Blog. I warned readers to be cautious when gold prices were spiking upward and reminded everyone that gravity also applies to commodities. I sat on the sidelines when spot climbed about the $1900/oz mark based on the past performance during the 2011 timeframe. Time was necessary to watch trader action and technical chart behavor.

Today, I am reporting that my attitude towards gold is once again bullish. Earlier this week, I purchased a small gold bullion deal and will begin purchasing numismatic/bullion gold, on a trade basis, if clients wish to convert recent gold gains into collector coins. Why the change of attitude? The following Kitco 10 Year Technical chart tells the story. The technical action between 2011 and 2020 was similar until prices reached their peaks. Subsequent trading action illustrates a marked difference. The 2011-2012 timeframe brought a period of speculative trading that was primarily driven out of Asia. U.S. banks were working overtime to short gold towards bringing prices down. The present 2020 timeframe is difference. Gold prices have consolidated at the $1920 - $1970 level. Major U.S. banks are supportive of this level. U.S. pension funds are beginning to invest in gold as an alternative to near zero interest rates. Warren Buffett has shifted from seeing gold as a "relic" to taking a substantial position in American Barrick (ABX).

Kitco 10 Year Technical Chart

Price Consolidation at $1920 - $1970 Level

 

GFRC 85% CAC Buyback and TPG Graded Gold Trading

I'm now bullish on two market trends; CAC approved early type coins and TPG graded numismatic/bullion gold. This week, I announced the willingness to purchase GFRC sold CAC coins at 85% of sale price. Now, I am announcing the willingness to purchase numismatic/bullion gold, on a trade basis, at 5% back of spot and will do this until my working capital is exhausted. What is numismatic/bullion gold? These are $10 eagles and $20 double eagles where the value is driven by the bullion gold content and not primarily by numismatic value. My focus will be on TPG graded gold at the AU58 through MS62 levels. Sorry, I'm not a player for junk gold coins.

 

Global Financial News

U.S. equity markets are treading water this week. Uncertainty is building as another wave of Covid-19 permeates through Europe along with the excessive drama of the upcoming U.S. elections. Asia markets are generally positive while Europe and the U.S. are flat. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan +0.2%. Hong Kong +0.5%. China +2.1%. India -0.3%.

In Europe, at midday, London -0.2%. Paris -0.3%. Frankfurt +0.1%.

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

Spot gold continue to consolidate in a predictable trading range. The current Kitco quote stands at $1952/oz. Crude oil has found some near term lift with a morning quote of $41.34/bbl. The 10 Year U.S. Treasury bond yield is flat at 0.68%.

This Seeking Alpha headline cast doubt on the U.S. Covid situation and the probablity of the Winter 2021 FUN Show taking place. I can see a small regional coin show being possible but not a massive 500 table show with guests from throughout the U.S.

New COVID-19 restrictions across Europe. Targeted lockdowns and local restrictions are returning to Europe as the region tries to avoid broad economic damage amid a surge in coronavirus cases. "Weekly cases have now exceeded those reported when the pandemic first peaked in Europe in March," the WHO's regional director for Europe Hans Kluge told an online news conference. "Although these numbers reflect more comprehensive testing, it also shows alarming rates of transmission across the region." Pubs and restaurants must shut early and household mixing has been limited in northeast England, while social gatherings of more than six people have been banned across the country. French authorities are meanwhile preparing tighter restrictions in several cities, while Spain's Madrid has moved to "reduce mobility and contacts" in areas with high infection rates.

 

Wrapping Up The Blog

Yes, I will be in the GFRC office the entire day focused on adding more coins to the price list and processing images.

Thanks for checking in with me on a Friday morning. Your inquiries on a host of topics, whether purchases, consignments, or selling offers are most welcomed. GFRC is evolving into a full service numismatic dealer and I look forward to supporting our community.

See you on Saturday morning. Be safe and well out there.

 

 

 

 

September 17, 2020

GFRC 85% CAC Buyback - Quick Response!

 

Greetings and welcome to another session of daily numismatic ramblings known as the Blog.

The Southern Maine autumn 2020 foliage season has begun to accelerate. Leading the way are maples. In just a few days, the large driveway maple will be mostly orange and gold colored. The "burning bush", that is viewed from my office window, is approaching full burgundy. Birches are beginning their color shift with yellow highlights. Temperatures remain seasonal. Unfortunately, there is absolutely no rain in sight with lawns turning a full yellow-brown.

There is little prepared for today's Blog edition. Wednesday brought heavy shipping followed by an afternoon of grocery shopping and appointments. I worked late into the evening to post the balance of the new Osprey U.S. gold consignment along with an 85% CAC Buyback lot. Let's explore that topic in more detail.

 

GFRC 85% CAC Buyback - Quick Response!

In Wednesday's Blog, I offered to purchase previously sold GFRC coins at a no question asked 85% buyback. This was not a frivolous statement. Rather, I am on a mission to increase CAC approved inventory in advance of an October-November CDN Publishing marketing campaign. The offer also validates GFRC willingness to stand behind the coins it sells to clients on a long term basis.

Evening brought an email from the New Hampshire Collection consignor. It seems that my buyback offer brought about a review of several PCGS box of 20 collections and a rationalization of holdings. This individual quickly decided to sell several "non-core" holdings for raising fresh numismatic capital. Within minutes of reading his email, I agreed to the buyback and worked out a USPS transfer method under GFRC business insurance. Four gem coins will ship today and be in the Maine office on Friday. I've taken the liberty of promptly posting these pieces onto the price list as the client's original purchase prices. Readers can verify this fact by checking the Sales Archive. To save you a trip to the 30 day price list, following are those coins. Please understand that images date back to 2018 and are no longer consistent with present day procssing quality. In particular, the 1942 PR67 Walker must be re-photographed to capture its true in-hand beauty.

 

Initial GFRC 85% CAC Buyback Offerings

                  1935-S PCGS MS65 CAC OGH 5C                                   1931-D PCGS MS64FB Gold CAC Rattler 10C 50C     

    

    1806 O-115a PCGS VF35 CAC 50C                                              1942 PCGS PR67 CAC 50C          

    

 

Two Low Grade 1852 F-110c Dimes Surface During Past Week

Being the Liberty Seated dime die variety expert, I often receive emails and text messages from collectors and dealers when something "odd looking" is located. During the past week, two reported examples of the 1852 F-110c terminal die state were reported. Both pieces grade G-VG. Following is an excerpt from the 1852 F-110c die variety page as featured in The Definitive Resource for Liberty Seated Dime Variety Collectors.

1852

Variety 110c

 Obverse 8.4: Severe Die Crack At Bottom of Date, Retained Cud, Terminal Die State

Reverse J.2: Lightly Cracked Die

        

 

I rate the 1852 F-110 die state as R7+ in VF or better. When appearing in problem free G-VG, the rarity probably drops to low R6. Estimate of fair market value is between $250 - $350. Currently, I am pricing any Liberty Seated dime with a bold retain cud at a minimum of $250 regardless of grade.

 

Manchester NH Coin Expo Update - October 1 - 2, 2020

The "Manchester NH" coin show is just two weeks away. It has been months since GFRC went through the process of selecting inventory and packing boxes and supplies for a live coin show. Will I still remember how to conduct error free preparations?

I checked the NH Coin Expo website for the latest updates. The attending dealer list is posted and indicates a strong New England regional showing. I have yet to be given a table assignment and will share that information, in the Blog, once available.

 

Global Financial News

As the U.S. presidential election nears, a sense of pessimism may be setting in. Media bias and manipulation are rampant. The days of objective "news" reporting are long gone as media companies work consistent with their political mandates. This pessimism appears to be weighing on equity markets along with the potential for a contested election; a disaster for the American democracy.

Morning market futures are solidly in the red across the globe.

In Asia, Japan -0.7%. Hong Kong -1.6%. China -0.4%. India -0.8%.

In Europe, at midday, London -0.6%. Paris -0.9%. Frankfurt -0.4%.

Futures at 6:20, Dow -1%. S&P -1%. Nasdaq -1%.

Spot gold remains in a tight trading range with a morning quote of $1946/oz. I'm beginning to watch gold's technical performance for signs of a next signifcant move. Banks and investment houses continue to forecast gold pricing to be in the $2000 - $2300 range during the upcoming three years. Fresh mining supplies remain tight. Any dip below the $1900/oz level will probably trigger a quick buying response as I don't anticipate central banks unloading their gold holdings in the age of zero interest rates and ongoing debt creation. The key question is, "where do we go from here?'

Crude oil has worked its way back to the $40/bbl level while the 10 Year U.S. Treasury bond yield stands at 0.65%. I know of at least one GFRC customer who has refinanced his mortgage and is leveraging the extra cash to fund his numismatic hobby.

 

Wrapping Up The Blog

What does my day look like?

Morning shipping is reasonable along with overnight orders being quiet. I hope to have shipping wrapped up by 10:30 AM and quickly pivot towards incremental image processing of the Murphys Collection's Carson City coinage and a few more Seated halves from the Pikes Peak Collection. There is also a pile of raw coins that I would like to work through and provide inexpensive alternative offerings for value buyers in the community.

Please check the 30 day price list during the mid to late afternoon hours for new offerings.

I definitely need to wash the Mazda Miata and begin moving some firewood into the garage as a break from the day's GFRC workload.

Thanks for checking in at the Blog.

 

 

 

September 16, 2020

Sleepy September has Awakened!

and

GFRC Buying CAC Approved Coins at 85% of Sale Price

 

Greetings and welcome to the Blog on a Wednesday morning. Can someone please slow the earth's rotation to make days longer?

The southern Maine autumn transition continues unabated based on a quick look at the seven day weather forecast. Sadly, there is no rain in the forecast with low temperatures moving to the mid 30s in a week's time. Daytime highs will struggle to reach 70F. As a lifelong Mainer, I love this time of year for working outdoors and comfortable sleeping. Sure, the Florida t-shirt and shorts lifestyle will be put on hold until the Thanksgiving timeframe or maybe a bit later this year. Prior to the end of September, firewood will be moved from the drying location, under the sunroom, to the garage. The start of wood burning season correlates well with peak foliage colors.

 

Sleepy September has Awakened!

Did someone flick the GFRC order switch? What happen?

Like magic, Sleepy September is no longer and I'm thoroughly pleased. This image illustrates the day's shipping queue. Each box must be invoiced, packed and taped before Doug the mailman makes his daily stop at noon time. As a result, today's Blog edition will be brief as overnight orders are waiting in my email Inbox along with this shipping workload.

GFRC Shipping Queue - September 16, 2020

 

GFRC Approves CDN Publishing Ad Campaign

It did not take long for the CDN Publishing staff to develop a new GFRC ad campaign. Yesterday brought the approval of a 1/4 page advertisement that will appear in the November CAC Rare Coin Market Review. I will also be funding my first CDN email blast targeted for the end of October. The time has come to introduce GFRC to the entire numismatic marketplace.

My belief is that GFRC remains a well kept secret outside the Liberty Seated coinage community. Advertising GFRC's 300+ CAC coin inventory along with expanding consignment procurement efforts is a year end priority. Matt Yamatin's auction software will (should) be completed at some point in the 4th quarter. GFRC E-Bid Auction service will add a new dimension to the business model.

 

GFRC Buys Back CAC Approved Coins at 85% of Sale Price

Please remember that GFRC will buyback any, yes any CAC approved coin that I have sold for 85% of the sale price. The COIN database has precise records of every transaction since 2014. It will take only seconds to make you an offer. I will gladly take CAC approved coins on trade or will write a check for your offerings.

Given the upcoming CDN Publishing marketing efforts, raising the level of CAC approved inventory is paramount. Near term goal is to increase that inventory level to a steady state 350 pieces. The challenge is restocking the numerous CAC approved coins that sell so quickly. Making CAC approved coins at Far Hills, NJ is becoming more difficult unless an old time collection appears. Nearly all non-CAC approved coins in the marketplace have been through at least one CAC submission.

 

Consignment Queue Status

I continue to process consignments on a FIFO basis along with using lower priced offerings as an inventory filler between major consignments. Today will bring the remaining Osprey gold pieces to the price list. Up next is a lovely lot of Carson City coinage from the Murphys Collection followed by a lot of Capped Bust halves from the Pikes Peak Collection.

Yesterday's posting of the White Pine Collection's "Top of the Ladder" offerings brought a host of First Right of Refusals. Those emails are stored in my Inbox and will be referenced once the White Pine consignment elevates to the top of the GFRC processing queue.

 

Consignments Wanted for October Timeframe

The present consignment queue will keep me busy through the end of September and into the Manchester NH Coin Expo (October 1-2). Afterwards, more consignments are being solicited for the month of October. As long as proposed consignments are consistent with current GFRC product lines and price range, I will be all ears to your proposal.

 

Global Financial News

U.S. equity markets have overcome the recent sell-off and are once again slowly building upward momentum. Morning market futures indicate a positive opening at 9:30 AM ET. In Asia and Europe, market futures are mixed.

In Asia, Japan +0.1%. Hong Kong flat. China -0.4%. India +0.7%.

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

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

Spot gold prices continue to inch upward with an early Wednesday quote of $1973/oz. Crude oil prices have found some temporary lift as Gulf of Mexico oil production is temporarily halted due to Hurricance Sally. The 10 Year U.S. Treasury yield is steady at 0.68% and looks to be holding that level for quite some time based on the following Seeking Alpha headline.

No rate hikes until 2024? Get ready for another Fed-filled session following the recent symposium in Jackson Hole and the first meeting since Chairman Jerome Powell announced a greater tolerance for inflation. While the central bank is expected to keep rates on hold, the "dot plot" is likely to show interest rates will stay close to zero through the end of 2023. The Fed may also note an improved economy, but not celebrate it, and markets are hoping for a more accommodative stance. Bigger questions will touch on the scale and composition of its bond buying, and the Fed's long-term plan with its $7T balance sheet.

 

Wrapping Up The Blog

Today's Blog edition will be promptly published at 8:00 AM followed by a quick shower and full morning in the GFRC office. The shipping queue is substantial and will take much of the morning to execute.

I will be out of the office during the later afternoon hours. Now that the upstairs bathroom remodeling project is completed, the garage can return to normal. Pete Theberge used one of the garage bays as his workshop. The Miata is covered with wood and stone dust and requires a thorough washing before heading into Windham for an appointment and grocery shopping.

Thanks for checking in at the Blog and please keep those orders coming! I will do my part by working later this evening and posting more new offerings on the price list.

Remember to be safe out there!

 

 

 

September 15, 2020

Significant Early Copper and U.S. Gold - Osprey Collection

and

White Pine's "Top of the Ladder" Consignment

 

Greetings on a Tuesday morning and the September mid-point. How time moves along so quickly. Thanks for checking in at the Blog.

Southern Maine temperature has dropped ahead of forecast during the overnight hours. At 6:00 AM, the local temperature was 37F with the homestead feeling a tad cool. Gone are shorts and t-shift attire for the GFRC office. Today's high will reach all of 66 degrees but under bright sun.

Today's Blog edition will be a varied group of GFRC business topics. Let's start with the West Coast Collection consignment debut on Monday.

 

West Coast Collection Debut Achieves 55% Sales Rate

The West Coast Collection offering of fresh Liberty Seated quarters and dimes was a noteworthy GFRC sales event. This lot has been off the market for years as witness by the PCGS Gen 4.4 (2005-2011) holders. Most of the offerings were sourced raw from coin shows and eBay followed by grading and CAC submissions. Strict originality was the focus of this individual, which resulted in a strong debut performance.

Several GFRC customers attempted to make purchases once the lot reached the price list. This consignment was carefully marketed from an initial itemized listing in the Blog along with several smaller client gallery postings. Each marketing illustration brought more First Rights of Refusals that led to Monday's strong debut.

The star of the lot was the 1850 PCGS AU50 quarter that was quality rated as a gem. There were eight people on the coin. Interestingly, the first two individuals with FRoR access passes due to price. The third person recognized the gem eye appeal and paid the price. Others behind the third person were also committed to making the purchase.

By end of day, the West Coast Collection debut had achieved a 55% sales rate. All the Liberty Seated dime duplicates were sold. I'm surprised that the 1839 PCGS VF25 quarter did not sell. This is a most attractive piece with eye appeal above the assigned grade. As for the 1867 PCGS VF25 CAC approved quarter, I don't understand this date and why it is so difficult to sell.

Overall, I am pleased with the debut sales and believe the consignor is too. His careful selection and grading efforts were validated on Monday.

 

Osprey Collection Early Copper and U.S. Gold Consignment

My attention shifts to a wonderful new consignment from Dan White. The lack of coin shows has not slowed Dan and his search for quality coins to augment GFRC inventory. The headline offerings are substantial and deserve serious attention.

We open with a wonderful 1794 PCGS EF40 large cent with deep chocolate brown coloring that is uniform on both sides. This Head of 1794 offering is one of the three different obverse designs to be struck during 1794. GFRC images are less than spectacular as my Nikon camera has trouble with lighting management on coins that are dark and lack contrasting surfaces. Believe me, this piece is much more attractive and well preserved as compared to the images.

The next highlight is a spendid 1883-CC $5 half eagle gold piece graded NGC AU58 with CAC approval. The orange-gold coloring is most pleasing as are the surfaces. Mintage is a tiny 12,958! There is already an initial First Right of Refusal that arrived late on Monday evening.

If all goes to plan, this lot will post to the price list later today and into Wednesday. Please consider using FRoRs if having potential interest with these offerings.

Significant Early Copper and U.S. Gold - Osprey Collection

1794 Head of 1794 PCGS EF40 1C                                                1883-CC NGC AU58 CAC G$5   

    

 1840 Sm/Lg 18 PCGS VF35 1C                    1873 Open 3 PCGS AU58 G$1                        1853 PCGS AU55 10C         

            

 1873-S  PCGS AU58 G$2.5                         1892-CC PCGS AU55 G$5                         1908 PCGS MS62 G$5   

            

 1915  PCGS MS64 CAC G$5                      1873 Open 3 PCGS AU58 G$20

      

 

Announcing the White Pines "Top of Ladder" Collection Consignment

The White Pine consignor has been active with GFRC since 2017. During that timeframe, I have handled multiple consignments. As is typical with many consignors, who are divesting a long term collection in stages, the lower quality coins are consigned first to test out the GFRC process. Once results are witnessed and confidence builds, a higher quality consignment is submitted. Step by step, consignors will carefully execute the sale of a collection.

I'm pleased to report that the White Pine consignor has reached the "Top of the Ladder" with respect to his divestment activity. His latest consignment is the cream of the cream. Once Diane opened the shipment and placed the PCGS blue box on my office desk, I immediately viewed the contents with many "wows!". This is a special offering that will garner much attention from serious collectors.

Following are the contents of the White Pine "Top of the Ladder" consignment for your consideration. Serious collectors should not wait and promptly submit their First Right of Refusal requests. Please understand that quality at this level will not be inexpensive when the price list debut takes place.

Seated H10c: 1839-O PCGS AU58 CAC (ex Saw Mill Run); 1843 PCGS AU55 heavily shattered reverse; 1853 Arrows PCGS AU58 CAC so choice and original; 1870 PCGS MS62 CAC

Seated 10c: 1843 F-105a PCGS AU50 CAC crusty original

Seated 25c: 1839 Open Claws Briggs 1-A PCGS AU53 ex Kansas Collection; 1842-O Large Date PCGS EF45 steely gun metal gray; 1848 PCGS AU53 CAC Compass Point reverse; 1853 A&R PCGS AU53 CAC; 1855 PCGS MS63+ CAC brilliant mint frosty, accurately graded; 1859 I/I PCGS AU53 CAC so choice; 1873 Arrows PCGS AU53 CAC ebony-gold; 1874-S PCGS VF30; 1881 PCGS MS64 CAC pastel aquamarine-rose with dazzling cartwheels

Seated 50c: 1839 Drapery PCGS AU50 superior for grade, needs trip to CAC; 1841 PCGS AU55 another one for CAC; 1873-CC Arrows PCGS EF45 CAC crusty gray-gold, perfect for grade

Seated $1: 1846 PCGS EF45 CAC light rose-gray, pretty

Gold Lib $5: 1861 PCGS AU58 CAC

 

Global Financial News

Monday's equity market rally has renewed investor confidence. Today's morning market futures, courtesy of Seeking Alpha, are flashing green and another day of gains.

In Asia, Japan -0.4%. Hong Kong +0.4%. China +0.5%. India +0.9%.

In Europe, at midday, London +0.8%. Paris +0.3%. Frankfurt +0.3%.

Futures at 6:20, Dow +0.6%. S&P +0.7%. Nasdaq +0.9%

Spot gold prices are also in rally mode with a morning quote of $1975/oz. Crude oil continues to languish at $37.86/bbl with yet another negative long term growth forecast from the IEA. Following is a Seeking Alpha headline summary.

Sounding the alarm on oil demand. "We expect the recovery in oil demand to decelerate markedly in the second half of 2020," the IEA wrote in its closely-watched monthly report, adding that "the path ahead is treacherous amid surging COVID-19 cases in many parts of the world." Global oil demand growth is now seen at 91.7M barrels per day, marking a contraction of 8.4M bpd Y/Y and more than the 8.1M bpd contraction predicted in the agency's August report. "The economic slowdown will take months to reverse completely, while certain sectors such as aviation are unlikely to return to their pre-pandemic levels of consumption even next year."

 

Wrapping Up The Blog

The 8:00 AM publishing time has arrived and best to hit the upload button as many of you are waiting for access to the White Pine Collection offerings and FRoR determinations.

I plan to be in the office the entire day. Morning brings heavy West Coast Collection Quick Ships followed by an afternoon of Pikes Peak and Osprey Collection price list loading.

Again, thank-you for visiting with me at the Blog! Be safe and well...

 

 

 

 

 

September 14, 2020

West Coast Collection - Liberty Seated Coinage Posted to Price List

and

Pikes Peak Collection - Liberty Seated Halves to Consider

 

Greetings and welcome back to the Daily Blog. Another Monday morning is upon us along with the middle of September.

Southern Maine will begin to experience the annual temperature slide in the coming week. A quick check of the seven day forecast indicates daily highs of only 60F come next weekend. Worst is forecasted evening lows in the upper 30s. If southern Maine is experiencing lows at that level, you can bet that northern Maine will see freezing conditions. Mother Nature is right on schedule!

 

Southern Maine's Autumn 2020 Foliage Season Update

This year, I am documenting the Autumn 2020 foliage season in the Blog. Last Sunday brought the first of weekly panoramic images taken from the back deck to capture autumn's color progression. Today's image illustrates further color progression against a backdrop of clear blue skies. Red and crimson colors are becoming more apparent, especially at the top of the two maples on the right. Subtle yellow coloring is also beginning to creep into the landscape. Unfortunately, the existing lawn in front of the recovered settler's stone wall is turning brown due to lack of rain. The seeded areas are obviously barren for the same reason. The darker brown patches are where loam (top soil) has been spread to cover removed boulders and the old brush burning pit.

Within a month, this entire landscape will become a grand portrait of reds, yellows, and gold with peak colors around October 18. I hope that you enjoy this weekly presentation.

Southern Maine - Autumn 2020 Foliage Status - September 13, 2020

Southern Maine - Autumn 2020 Foliage Status - September 6, 2020

 

West Coast Collection - Liberty Seated Coinage Posted to Price List

I'm pleased to report tht the West Coast Collection consignment of Liberty Seated quarters and dimes appeared on the price list during Sunday afternoon. GFRC staff cataloger, Len Augsburger, did his usual fine job with descriptions. By 3:00 PM, the entire lot was posted with sale orders promptly appearing. Many pieces still have open First Rights of Refusals. I wish to close these out quickly as other regular orders are appearing. If not hearing back by 3:00 PM ET on FRoFs, these pieces will be sold on a first come first serve basis.

 

Pike Peak Collection - Part 3 Liberty Seated Halves

Upon finalizing the West Coast Collection offerings, attention shifted back to the Pikes Peak Collection and a solid Liberty Seated half dollar lot. These pieces are all nicely original and ideal for type collectors or those working on a circulated date and mintmark set. Please give special attention to the 1843 WB-12 and its late die state obverse and reverse die cracks. Several of these items are already posted to the price list with the balance due after morning shipping is completed.

Pikes Peak Collection - Quality Liberty Seated Halves

 1843 WB-12 PCGS EF40 50C                      1853 A&R PCGS VF35 50C                          1854 PCGS EF45 50C    

            

 1855-O  PCGS EF40 50C                          1856-O PCGS AU53 50C                             1856-O NGC AU53 50C

            

 1858-O  ANACS EF45 OWH 50C                      1859-O PCGS VF35 50C                          1869-S PCGS EF40 50C     

            

 

Next in the GFRC Consignment Queue

The GFRC consignment queue remains healthy. Once the Pikes Peak Seated halves are online, my attention shifts to a lovely U.S. Gold lot from the Osprey Collection followed by yet another Carson City Seated quarter and half dollar lot from the Murphys Collection. Waiting in the wings, is a newly arrived "top of the ladder" consignment from the White Pines Collection. This latter offering is simply superb and will garner substantial attention once itemized. This I will do in Tuesday's Blog to set the First Right of Refusal wheels in motion. Please ensure that you check back on Tuesday morning at 8:00 AM ET towards securing first shot for these these exceptional White Pine Collection offerings.

 

Global Financial News

U.S. equity markets took it on the chin last week. The DJIA closed the week at 27,665 after reaching the 29,000 a short time prior. The Nasdaq also suffered losses and closed under 11,000.

Monday morning futures are pointing to renewed buying interest with single point gains forecasted at the 9:30 AM ET opening. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan +0.7%. Hong Kong +0.6%. China +0.6%. India -0.2%.

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

Futures at 6:20, Dow +0.9%. S&P +1.2%. Nasdaq +1.7%.

Spot gold continues to be resilent and opens the day at $1952/oz. I've grown confidence with this pricing level and purchased at gold deal on Sunday at 5% back of spot for U.S. gold eagles. If interested in selling $20 Liberty or Saint double eagles, please send me an email to discuss what is on your mind.

Crude oil is languishing at $37.15/bbl. The following Seeking Alpha headline captures BP's call that the end of oil market growth has been hastened by Covid-19.

Oil demand may never be the same. BP has become the first oil major to call the end of an era many thought would last another decade or more, saying the relentless growth of oil demand is over in its latest energy outlook. Oil consumption may never return to levels seen before the coronavirus crisis took hold and even the firm's most bullish scenario sees demand no better than "broadly flat" for the next two decades as the world moves away from fossil fuels. The forecast helps explain why BP has recently said it would shrink oil and gas output by 40% over the next decade and spend as much as $5B a year building one of the world's largest renewable-power businesses.

 

Wrapping Up The Blog

There is a reasonable morning of GFRC shipping awaiting me given some West Coast Collection purchase confirmations. Pete Theberge is due to arrive at any time to continue wrapping up the bathroom remodeling projects. It is best that I get a quick shower in and focus on packaging and shipping.

Thanks for checking in at the Blog and please consider a purchase for your collection. Consignors are awaiting the sale of their coins towards making their own purchases. Once the Trading Desk wheel is set in motion, many collectors will be able to secure new acquisitions for enjoying their hobby.

See you on Tuesday morning at the Blog. Be safe and well!

 

 

 

September 13, 2020

Taking Personal Responsibility

and

Presenting the West Coast Collection Liberty Seated Coinage Consignment

 

Greetings and welcome to the Blog on a Sunday morning. Thanks for checking in!

Five hours in the woods was the best possible mental therapeutic. Right after uploading Saturday's Blog, I grabbed work clothes and branch cutters for a morning in the back acreage. I emerged five hours later with a fresh attitude for the Blog and the GFRC business. The Ledge Hill trails are now ready for visitors as the trip hazards were removed. Every protruding root has been cut. Sharp edged rocks are gone. Remaining is uneven ground that must be filled in to make passage a mindless activity.

The highlight of the five hour holiday was enhancing the natural spring. A small dam was constructed to raise the pool water level by several inches. I was interested in learning how quickly the water level would rise given the very dry conditions. This one hour experiment will lead to a larger dam and small waterfall attempt before the Florida migration. The aesthetics surrounding the spring continued to be improved with large rocks being rolled into placed to finalize the stone staircase. Sorry, but no pictures are available as I was just too focused on construction and trail cutting.

 

Sleep September is Certainly Sleepy!

I can only speak for GFRC and not other dealers. I wish for consignors to realize that Sleepy September is turning out to be as described; sleepy! Order rates have dropped including those from Collectors Corner. Unit sales and revenue are well behind forecast as we approach the middle of the month. U.S. gold sales have softened. If GFRC was not constantly loading fresh consignments to generate sales, September would be most anemic. Interestingly, the best selling product line is Capped Bust halves...

I suspect that October may not been much better as we approach national elections in early November. The political chasm, social unrest in cities, and elevated fear mongering from various media outlets have many of us distracted. The lack of coin shows is also having an impact as collectors are unable to physically go out and enjoy their hobby along with camaradarie with fellow hobbyist.

GFRC consignment backlog remains very strong as the Summer 2020 Consignment Wave moves into the autumn months. I asked for consignors to exercise patience during the next few months. Your coins are not the issue, rather collectors are being distracted from their hobby.

 

Taking Personal Responsibility

I've decided to share the following blogpost from Seth Godin for a reason. Simply said, it rang true with me. Living a life means making mistakes. We learn by making mistakes, hopefully learning quickly after making a single mistake, worst case after the same mistake twice. While operating GFRC, I've made my share of mistakes and always take each as an opportunity for continuous improvement in work processes. The days of double committing coins, during the First Right of Refusal process, are behind me due to a simple process fix.

What I detest in life are those who are unable to admit a mistake; rather certain individuals always have an excuse or will lay blame somewhere else. My lack of sympathy, for those individuals who are unable to admit mistakes, comes from a long time semiconductor industry supervisor. This German supervisor from Stuttgart, rose to the ranks of Executive Vice President at Fairchild Semiconductor. I followed this individual for years on my career path. Laurenz would never allow his staff to lay blame on others for issues that arose. If business issues took place, he expected each of his staff members to quickly learn from the event, be proactive, and anticipate problems in the future. He had a keen disdain for those in the company who made a habit of creating problems and rushed in to put out the fires they had created. Laurenz expected his staff to execute their roles in an uneventful manner to allow him to focus on higher levels of learning and achievement.

With that preamble, following is a Seth Godin blogpost that captured my attention.

Seth Godin Blog: The honest mistake vs. the intential act

Even though the harm may be the same, we’re much more likely to move on from an acknowledged accidental mistake.

Is it because we know that we’ve made honest mistakes ourselves, and the act of forgiving the other person is a way of forgiving ourselves? Or is it because it feels more random and less personal to be impacted by something that was a mistake?

Or perhaps, there’s some sort of reparation when the other person apologizes and works to improve… as if our suffering made a contribution for others who will follow.

In a third situation, a random accident, where there isn’t a perpetrator, it seems as though we’re the most likely to move on. If the cause is a fellow human, somehow we process misfortune differently. The intention is a double injury.

And yet, after the incident, when each of us is faced with the chance to acknowledge that we made an honest mistake, we often compound the problem and turn it into something more like an intentional act, simply because we’ve been taught to avoid taking personal responsibility.

 

Presenting the West Coast Collection Liberty Seated Coinage Consignment

I am most pleased to be showcasing the entire West Coast Collection consignment this morning.

The West Coast consignor was one of the first individuals to work with GFRC during my start-up phase during 2014. This individual is a tireless entrepreneur who has built a substantial business empire during the past five years. Several weeks ago, I received an email indicating that the time had come to start selling pieces of his core collections. The first would be his Liberty Seated quarters and several Seated dime duplicates.

Upon the consignments arrival, I could immediately see how fresh this collection was. Nearly every coin was housed in PCGS Gen 4.4 (2005-2011) holders with a few others pieces being in even earlier holders. Most were CAC approved. The West Coast consignor has an excellent eye for strict originality and has enjoyed his numismatic hobby as a stress outlet from his hectic career.

As of Friday evening, a pricing proposal was issued to the consignor. Yesterday brought a template file to Len Augsburger, who will be writing his typical authoritative descriptions. By dinner time Saturday, the following client gallery was finalized and posted to the Blog.

Yes, there are many accumulated First Rights of Refusal for these offerings. After today's Blog is posted, I will revisit my email Inbox and record each FRoR in the COIN system. Once pricing is approved and Len completes the descriptions (target is Monday), I will post the lot to the price list and send those with FRoRs an email reminder that a play/pass decision is promptly expected.

Congrats go out to the West Coast Collection consignor for an impressive offering!

 

West Coast Collection Offerings - Arriving to Price List on Monday!

1840 Drapery PCGS AU55 10C                                                   1850 PCGS AU50 CAC 25C   

    

1852-O PCGS VF30 CAC 25C                                                   1875-CC PCGS VF35 CAC 25C

    

 1861-S F-101 PCGS EF40 10C                    1865-S F-102 PCGS EF40 10C                     1871-S F-101 PCGS AU55 10C

            

 1891-O PCGS MS63 CAC OGH 10C               1839 ND PCGS VF25 CAC 25C               1840-O Drap PCGS VF35 CAC 25C

            

1842-O LD PCGS VF30 CAC 25C                1842-O SD PCGS G04 CAC 25C                  1850-O PCGS VG08 CAC 25C   

            

1851 PCGS EF40 CAC 25C                            1851-O PCGS F12 25C                           1853/4 PCGS EF40 CAC 25C

            

1854-O Huge O PCGS VG10 CAC 25C                1856-S PCGS G04 CAC 25C                         1856-S/S PCGS G06 25C          

            

1860-S PCGS G06 CAC 25C                         1865 PCGS VF20 25C                                1865-S PCGS F12 25C   

            

  1867 PCGS VF25 CAC 25C                         1867-S PCGS F12 CAC 25C                          1868-S PCGS VF30 CAC 25C

            

      1871 PCGS EF45 25C                      1873 NA C3 PCGS VG08 CAC 25C                   1873-S PCGS VF30 CAC 25C

            

1877-S/S PCGS VF20 25C                         1880 PCGS VF20 CAC 25C                        1882 PCGS F12 CAC 25C

            

       1889 PCGS EF45 25C                            1891-O PCGS VF30 CAC 25C 

      

 

Wrapping Up The Blog

I hope that today's lengthy Blog edition makes up for yesterday's holiday.

Plans are to be in the GFRC office throughout the early morning and entire afternoon. There are multiple consignments in backlog that need near term attention along with being available for a potential purchase order.

Thanks again for visiting with me at the Blog. Be safe and well!

 

 

 

September 12, 2020

Taking a Daily Blog Holiday - Clearing the Ledge Hill Trails

 

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

Your blogger has decided to take the day off! This is one of those mornings where a lack of creativity is prevalent and I will be much happier with not attempting to write stuff to fill out an edition. Instead, I'm heading down to the Ledge Hill Trails and will clear trail roots during the time taken to write a Blog edition. How refreshing this will be!

The past busy week had worn me out to the point of heading to bed at 8:00 PM on Friday evening. The West Coast Collection consignment offerings have been priced and a COIN report was sent to the consignor for approval last evening. Afterwards, I lacked the energy to work another three hours towards building a complete client gallery.

Thank-you for checking in. I will be back on Sunday morning with a finalized West Coast Collection client gallery and other ramblings.

I'm off to the back woods....

 

 

September 11, 2020

Noteworthy CAC Approved U.S. Gold New Purchases

and

West Coast Collection - Better Date Liberty Seated Dime Offerings

 

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

Mid-September is quickly approaching and that means a seasonal weather transition in southern Maine. After two warm days with high temperatures in the low 80s, seasonal cooling appears today. High temperatures will struggle to reach 70F with overnights heading into the mid 40s. The downward slide of the mercury has begun on schedule. Sadly, the weather forecast precludes any hope for rain.

 

Sustaining GFRC During a Homestead Remodeling Crescendo

Thursday brought the homestead bathroom remodeling project to a loud crescendo. Somehow, I manage to sustain the GFRC business through all the chaos. My largest challenge of the day was locating a usable (and private) bathroom!

We knew the day would be a wild ride. It started with Pete and I moving a heavy two sink vanity from the garage to the master bedroom bathroom. Immediately afterwards, the plumber and the electrician arrive. The plumber is a day early and ahead of schedule. They help Pete move three granite countertops from the garage to three separate bathrooms. Old sinks come out of the existing upstairs guest bathroom and the first floor bathroom leaving the only usable "safe space bathroom" adjacent to the basement sound room. If that commotion was not enough, the glass door people return to check critical measurements on the master bedroom shower doors. At this point, there are five contractors in the home with the garage access door, off of the kitchen, constantly open. You guessed it! I'm trying to process the morning shipping and looking out the office window. There is Buddy the dog outdoors roaming freely. Buddy never ever is allowed outdoors on his own as the Valley Roadway is heavily traveled, at high speeds, with poor driver visibility when cresting the hilltop. I yell to Diane that Buddy is roaming in the driveway. She rushes outside and luckily grabs Buddy before he can venture too far from the house.

Somehow, I still managed to wrap up shipping and write descriptions for the RCA Barber quarter collection that is completely posted to the price list. Doug the Mailman makes his daily appearance at 12:30 PM with a "top of the ladder" consignment from the White Pine Collection (more on that consignment within Saturday's Blog). During this madness, the skies clear up for 15 minutes to facilitate the photography of two great new U.S. gold pieces.

By 5:00 PM, the chaos is over. All contractors had departed. Two of the four homestead bathrooms are usable. Buddy the dog is still safe. Initial RCA Collection sales have kicked-in. Pre-dinner tequila time never felt so good while I grilled on the back deck.

 

GFRC Developing Marketing Campaign with CDN Publishing

I made mention in Wednesday's Blog that GFRC would restart its online marketing as the end of 2020 approaches. That effort is already underway. GFRC has decided to work with CDN Publishing given their industry reputation for publishing the Greysheet and the new CAC Price Guide. Already, an advertising layout is being developed and will appear in the next CAC Rare Coin Market Review. GFRC will also being using CDN email blasts to announce major consignments and auctions that are on the horizon.

 

Noteworthy CAC Approved U.S. Gold New Purchases

Regardless of the homestead remodeling chaos, the GFRC show must go on! Following are two fantastic new purchases for your consideration. Look for these to reach the price list by end of day.

We open with a wonderful 1850-O $2.5 quarter eagle at the coverted CAC approved AU58 grade. This date is very scarce at the AU58 level and rare in Mint State. Most are known to be poorly struck with strong frosty luster. This offering brings bold frosty luster and rich green-gold coloring to the price list. Strike is typical but still pleasing.

Next is a most attractive 1907-S $20 Lib graded PCGS MS64+ with CAC approval. Sure, in lower grades this date is "common". However, nearly all of the mintage has abrasions with only fifteen certified as MS65 by PCGS. You guessed it, the pricing premium jumps well into the five figures. There is a lone CAC approved MS65 specimen that is probably worth between $30,000 to $35,000 in today's market. GFRC is pleased to be offering this quality competitive MS64+ CAC example at $6,900.

 

Noteworthy CAC Approved U.S. Gold New Purchases

1850-O NGC AU58 CAC G$2.5                                                   1907-S PCGS MS64+ CAC G$20

    

 

West Coast Collection - Better Date Liberty Seated Dime Offerings

Progress continues on preparing the West Coast Collection's Liberty Seated quarter and dime offerings. Following is a gallery display of the Seated dimes for your consideration. We open with an important 1840 Drapery dime graded PCGS AU55. This date is extremely challenging to locate in choice Mint State. My own core Seated Dime collection only has a PCGS AU55 CAC example as I never found a Mint State example that I could fall in love with.

An 1861-S dime in nice original PCGS EF40 is also noteworthy, as is an 1871-S dime graded PCGS AU55. The Seated dime specialists in the community will have something to consider this morning! Yes, all of these dimes have been to CAC for review.

 

West Coast Collection - Better Date Liberty Seated Dime Offerings

1840 Drapery PCGS AU55 10C

1861-S F-101 PCGS EF40 10C                                                   1865-S F-102 PCGS EF40 10C

    

1871-S F-101 PCGS AU55 10C                                                   1891-O PCGS MS63 CAC OGH 10C

    

 

Global Financial News

Another trading week comes to a close today and frankly, I've been way too busy to pay attention to financial markets. Following are morning market futures courtesy of Seeking Alpha. U.S markets are looking to open on an upbeat note after Thursday's losses. The November national election is weighing on investors given the two different paths for America being painted by the major parties.

In Asia, Japan +0.7%. Hong Kong +0.8%. China +0.8%. India flat.

In Europe, at midday, London +0.2%. Paris -0.5%. Frankfurt -0.6%.

Futures at 6:20, Dow +0.8%. S&P +1%. Nasdaq +1.4%.

Spot gold pricing remains in a tight trading range at $1948/oz. Crude oil continues to languish at $37.19/bbl and the U.S. 10 Year Treasury bond yield is flat at 0.69%.

 

Wrapping Up The Blog

I'm posting the this Blog edition early as I really want to get a shower in before Pete Theberge arrives. Yesterday's bathroom chaos resulted in no shower for the day.

Thanks for stopping by and taking in another day's ramblings. Please consider an addition to your collection as Sleepy September is turning to be sleepy! I'm also in a buying mood for compelling offers.

See you tomorrow at the Blog. Please be safe and well!

 

 

 

September 10, 2020

West Coast Collection - Liberty Seated Quarter Highlights

 

Greetings on a Thursday morning. Thanks for checking in at the Blog.

Dense fog abounds as the Blog is being composed. The possibility of rain during the daytime hours has dissipated leading to another hot (82F) and dry day. The chances of seeing a green lawn in the backyard diminishes by the day. On a positive note, birds are not eating the grass seeds leaving them to germinate next spring.

Sleepy September is playing out as expected. Orders have been slow but steady while I process incremental consignments. Demand for U.S. gold has fallen off as many are in a wait-and-see mode on the future direction of spot gold prices. A few consignors are losing patience leading to some inventory rotation. My advice to consignors is stay the course! Yesterday brought a return consignment shipment back to the Florida owner. Immediately after Diane dropped the shipment off at the Windham PO, I received an order for one of the coins. Again, patience is important when selling collectibles in a thinly traded market.

With the slower office pace, I've been able to focus on a large Estes model rocketry kit order for a client in the upper Midwest. This is the third order from the client. This time, he targeted a core segment of my collection; sci-fic themed kits with rainbow colored hangtags. These kits were designed and manufactured in the late 1970s and early 1980s and represent the golden age of model rocketry. Here is a snapshot of his prepared order. At some point today, I will escape numismatics and research fair asking prices for each vintage Estes kit. The quote uses the GFRC quality rating system but recalibrated for how well model rocket kit are preserved. For those who have no knowledge or appreciation for Estes model rocket kit values, this lot will sell for the equivalent value of one and a half common date $20 Saint Gaudens in MS64 CAC; about $3500.

In-Process Estes Model Rocket Kit Order

 

RCA Barber Quarter Collection Lots Posting to Price List

I'm pleased to report that pricing has been settled for the RCA Barber quarters. A few lots posted to the price list last evening with the balance arriving today. A reasonable number of FRoRs are on the books. Before responding to purchase inquiries, I must research the email Inbox and document all First Right of Refusals. It has been months since I double committed a coin and hope to keep that streak alive with careful preparations.

 

West Coast Collection - Liberty Seated Quarter Highlights

Next in the consignment queue is the West Coast Liberty Seated Quarter Collection with incremental better date Seated dime offerings. Yesterday's post-dinner time was spent processing seven Seated quarter images for this morning's gallery. You are invited to review these highlights as they are representative of the entire lot. The West Coast consignor has an excellent eye for strict originality and accurate grading. He typically does well with his CAC submissions.

The opening 1850 quarter was a tease on my part. The overnight hours brought four FRoRs. Unfortunately, this piece has a First Right of Refusal dating back to when I first published the West Coast collection dates in the Blog. This 1850 quarter is a gem and the absolute highlight of the collection in terms of eye appeal. It will not be inexpensive. The 1839 quarter brings circulated cameo eye appeal and a Closed Claws reverse. The 1851 Philly strike offers natural colored surfaces. Looking at the 1865 and 1865-S better date offerings, without CAC approval, one can easily see the different in eye appeal between the CAC approved pieces and these two offerings. The highlights close with an important 1875-CC quarter. This very scarce date is appropriately represented by this offering. Sorry, there is already a FRoR on this one also.

West Coast Collection - Liberty Seated Quarter Highlights

1850 PCGS AU50 CAC 25C

1839 PCGS VF25 CAC 25C                                                   1851 PCGS EF40 CAC 25C

    

1865 PCGS VF20 25C                                                              1865-S PCGS F12 25C  

    

1868-S PCGS VF30 CAC 25C                                                   1875-CC PCGS VF35 CAC 25C

    

 

Global Financial News

There is not much to report on the financial topic. Sure the Nasdaq has cycled through a drop and is in recovery mode. My guess is that the recent price action will be a blip on the radar screen in a month's time.

The U.S. dollar has weakened considerably to the point that the Europe Central Bank is worried about a "too strong Euro" in terms of exchange rates and trade implications. This Seeking Alpha headlines captures the alarm bells that are starting to ring across the pond. The title line, Race to the Bottom for Central Banks, refers to interest rates as a tool for weakening a currency. The ECB has no leverage with their negative interest position.

Race to the Bottom for Central Banks. Currency traders are preparing for a key meeting at the ECB, which has seen the euro appreciate heavily over the past few months, especially after the Fed signaled a willingness to allow inflation to overshoot its target. The dovish stance, which gives more weight to the labor market and less weight to inflation, has added to the downward pressure on the U.S. dollar, and the ECB's Christine Lagarde is expected to talk down the euro as much as she can. Normally, a central bank would cut interest rates to deal with this kind of situation, but rates are already deeply negative across the eurozone. Instead, the ECB may stress that the €1.35T envelope of the PEPP (pandemic emergency purchase program) is not a ceiling, and that it is prepared to increase its pace and size.

Morning market futures are mixed on a global basis. Following is a summary courtesy of Seeking Alpha. Note that U.S. equity markets are forecasted to be flat at the 9:30 AM opening.

In Asia, Japan +0.9%. Hong Kong -0.6%. China -0.6%. India +1.7%.

In Europe, at midday, London -0.8%. Paris -0.2%. Frankfurt +0.2%.

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

Spot gold prices have inched up to $1957/oz while crude oil continues its near term struggles at $37.48/bbl. The 10 Year U.S. Treasury bond yield is flat at 0.70%. Now is the time to refinance a home mortgage and use the extra monies to buy coins. One GFRC client has just done this.

 

Wrapping Up The Blog

Let's end the Blog at this point as there is little else to share.

The master bedroom bathroom project is approaching completion. Come 8:00 AM, I must help Pete Theberge carry a double sink vanity enclosure from the garage to second floor. This is a good sign when vanities and sinks are being installed after a multi-week demolition and tiling effort.

Otherwise, I will be in the GFRC office during the day writing RCA descriptions and processing West Coast Collection images.

Purchase orders are most appreciated during Sleepy September. If considering selling coins or wishing to consign, please give me a call to discuss what is on your mind.

I look forward to seeing everyone again on Friday morning. Hopefully, the entire West Coast Collection client gallery will be completed for that edition.

 

 

 

September 9, 2020

Presenting the RCA Barber Quarter Collection

and

Taking a Stroll Through the GFRC CAC Price List

 

Greetings and welcome to the Blog on a Wednesday morning.

Managing software can be challenging at times. My day started innocently enough. Good intentions abounded. One of the intended discussion topics for today's Blog edition was the GFRC CAC price list after taking a stroll through those inventories last evening. Upon reviewing 322 CAC approved coins, one does gain a sense of the superiority of those pieces marked with green and gold beans. A few screen captures were planned.

The CAC price list contained a old "dead" link that dates back to 2015. That link showcased my Gold CAC Liberty Seated Dime display at the 2015 ANA World's Fair of Money event. The link pointed to a folder that was not created by Matt during the 2016 website rewrite. Before showcasing the CAC price list in the Blog, I thought it wise to remove that dead link. Unwise was the implementation. After downloading the CAC price list file from the Hostway server and removing the link, the edited file was uploaded and impacted key files that control the Featured Coins gallery on the Daily Blog and the JUST BUY IT NOW gallery for the For Sale page. Dreamweaver conducts some background file updates that I was not aware of.

Luckily, Matt was at home and repaired the issue in the time taken to write two opening paragraphs. Whew! Let's return to our regularly scheduled program....

Southern Maine weather has shifted into a period of cloudy and/or overcast skies through the balance of the week. Thursday may bring some light rain. The day starts with thick fog and a humidity level at 97%. Temperature is a comfortable 64F. I'm fine with the lack of sunshine as the GFRC photography queue is sufficiently loaded to carry me into the weekend. Waiting in the image processing queue are the latest consignments from the West Coast and Osprey Collection that total nearly 60 pieces.

 

Presenting the RCA Barber Quarter Collection

Operating GFRC and building a numismatic community enables a broad range of new friendships with individuals that I have yet to meet in person. The power of the internet, coupled with a common passion for coins, allows like minded individuals to develop meaningful relationships that include the challenges that life brings.

During the past year, I've grown close to the RCA consignor and recently shared a sad experience in his life. I make a practice of not communicating details but will state that the RCA consignor is going through a difficult period in a life. His passion for numismatics is proving to be a stabilizing force during a period of loss and sadness.

The following Barber quarter offering is a special fundraiser for an RCA family member. I have been instructed to carefully monitor the sales proceeds and manage those separately from the regular RCA consignment credit account. The monies are intended as a special gift. Let's leave it at that point.

This RCA Collection consignment is a special offering. You will immediately note this individual's collecting style of acquiring only mintmarked better dates and not spending monies for the common dates. This collecting approach is refreshing and provides an opportunity to see our hobby from a different perspective.

Thank-you for taking the time to view the following RCA Collection client gallery on a Wednesday morning. There are many semi-key dates in this offering that should fit nicely into an emerging Barber quarter project. All pieces are found at the collectible AU50 to AU58 grade levels. Most are frosty pieces. Today brings a pricing proposal to the RCA consignor followed by description generation. If all goes to plan, this lot will post to the price list on Thursday. First Rights of Refusal are welcomed.

 

RCA Barber Quarter Collection - 20 Quality Offerings

1897-O PCGS AU53 25C                                                       1897-S PCGS AU50 25C  

    

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

            

1894-O  PCGS AU58 OGH 25C                     1895-O PCGS AU55 25C                             1895-S PCGS AU50 25C      

            

1898-O PCGS AU55 25C                            1898-S PCGS AU53 25C                           1899-O NGC AU58 25C  

            

 1899-S PCGS AU55 25C                           1902-O PCGS AU50 25C                           1902-S PCGS AU50 25C

            

1903-O PCGS AU53 25C                           1903-S PCGS AU58 25C                           1904-O PCGS AU50 25C

            

    1905-S PCGS AU53 25C                             1906-D PCGS AU53 25C                         1907-D PCGS AU55 CAC 25C

            

 

Taking a Stroll Through the GFRC CAC Price List

Within the numismatic press, I see dealers touting their CAC approved inventories. Out of curiousity, I will check their websites to view the CAC approved offerings. Often, I am disappointed as the advertising driven expectations do not match what is in inventory.

Conversely, GFRC has not been advertising during 2020. Sure, I could partner with CoinWorld or CDN to conduct email blasts. My prior experiences with "push" marketing has not been satisfying. Rather, personal time is allocated to writing the Blog and having a well maintained presence on Collectors Corner. I was contemplating a start-up effort on eBay for more exposure but that project requires a retooling of GFRC images due to strict requirements for full obverse and reverse holder images. This will not happen.

Last evening's stroll through the GFRC CAC approved price list drove home a key point. GFRC has one of the best CAC approved early type inventories in the numismatic industry. It is time to start announcing this fact in a more substantial manner. I'm toying with the idea of contacting the CDN staff and develop a more focused marketing strategy with this firm. Stay tuned as I begin to explore this avenue.

Please take a stroll through the GFRC CAC price list by clicking GFRC CAC Price List or just returning to the Sales Page for normal access. Seriously, I hope that you will take the time to review the entire inventory not only from a potential purchase perspective but from a quality perspective. CAC coins are indeed superior for the grade and a review will lead you to this conclusion.

GFRC's policy to is buyback its CAC coins at 85% of sale price other that bullion related U.S. gold . This should provide some confidence with potential purchases.

Following are two screen captures to whet your appetite.

 

Global Financial News - Nasdaq Attempting a Recovery

It has been a rough ride for high flying Nasdaq technology stocks during the past ten days. This Seeking Alpha headline details the level of recent losses and is optimistic about morning futures being up nearly 2%.

It's been a rough last few days for the Nasdaq, which touched correction territory over the course of three sessions as six of the biggest tech stocks lost more than $1T in market value. While it was the fastest 10% plunge in history (the previous record pace was six sessions notched back in March), 2020 has been a year for the record books. Wall Street now appears to be regaining some footing, with Nasdaq futures ahead by nearly 2%, and contracts tied to the Dow and S&P 500 up 0.6% and 0.8%, respectively. On the economic calendar, the Labor Department is set to release its Job Openings and Labor Turnover Survey for July, and while it is somewhat dated, the report should give investors some insight into the labor market.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan -1%. Hong Kong -0.6%. China -1.9%. India -0.5%.

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

Futures at 6:20, Dow +0.6%. S&P +0.8%. Nasdaq +1.9%. 

Spot gold remains in its trading range with a quote of $1936/oz while crude oil prices continue to slide at $37.43/bbl. The 10 Year U.S. Treasury bond yield is flat at 0.69%.

 

Wrapping Up The Blog

Thank-you for checking in with me this morning and each day at the Blog.

The 8:00 AM ET publishing time has arrived and best to hit the upload button. I will be in the office for the entire day as there is much to do between morning shipping and pricing out the RCA Barber quarter collection. Of course, evening time will bring more image process for yet another gallery in Thursday's edition.

Wishing everyone a pleasant Wednesday in the numismatic neighborhood.

 

 

 

September 8, 2020

RCA Collection - Barber Quarter Highlights

and

How Does GFRC Illustrate Reverse Die Alignment?

 

Greetings on a Monday, rather Tuesday morning and welcome to another Blog edition.

With Labor Day weekend behind us, my attention shifts to enjoying the Autumn season culminating with a Florida migration. Life moves in cycles, doesn't it as daily sunlight grows shorter?

We are less than two months away from a national election including bombardment by never ending political ads. Thank-goodness that I no longer spend a minute in from of the TV and limit time reading online media. The Tidal music streaming service is non-political and a shelter for my mind after a long day in the GFRC office.

Where I am heading with these ramblings? I'm not sure but suggesting that managing happiness is an important role in a life. There are aspects of life that are beyond our control; seasons and weather as an example. We can find happiness by cherishing the beauty of each season and the chores that each brings. Autumn is my favorite season. My goal is to spend one hour per day beautifying the Ledge Hill walking trails and being close to the land though October.

Happiness management (peace of mind) can be accomplished if we work at it. Focus on activities that bring self improvement and gratification. During each waking hour, we make activity decisions. Those decisions have a profound impact on health and happiness. Something as simple as mentally ranking each activity in terms of happiness may lead to a discovery concerning our daily habits. For example, I enjoy writing the Daily Blog. If not bringing happiness, I would have stopped years ago. The Blog is an instrument of continuous improvement. My writing and time managment skills have attained a new level of proficiency which I am proud of. Self awareness has also grown since living a life in the public domain.

Happiness management is a personal decision. Hopefully, numismatics is one of those items that leads to pleasure, relaxation, and a sense of accomplishment.

 

RCA Collection - Barber Quarter Highlights

Next in the FIFO (First In, First Out) consignment queue is a lovely lot of Barber Quarters from the RCA Collection. This indiviudal has recently suffered a major personal loss and has shared details with me as a friend. The sale of these Barber quarters is a very personal event for the consignor, not from a financial perspective, but rather emotional.

Following are four highlights from the RCA Collection's box of 20 mintmarked Barber quarters. All are graded between AU50 thru AU58. Most bring frosty luster with about 25% being toned to varying degrees. A few were purchased from GFRC in the past several years. Already, a FRoR is on the books for the pretty 1907-D quarter.

If all goes to plan, I hope to have the entire collection posted to the Blog tomorrow morning. Once the client gallery is completed, pricing will be finalize on Wednesday. Proceeds from this sale are targeted for a special cause.

RCA Collection - Barber Quarter Highlights

    1892-S PCGS AU55 25C                                                     1894-O PCGS AU58 OGH 25C

    

  1895-S PCGS AU50 25C                                                   1907-D PCGS AU55 CAC 25C

    

 

Scott Grieb's "Of Coin Stories – Three Cent Shops and Double Eagle Prizes" Posted to Daily Blog Greatest Hits

Monday brought a bit of discovery in how Matt Yamatin programmed the drop-down menus located at the top of the Daily Blog.

I'm pleased to announce that Scott Grieb's popular "Of Coin Stories - Three Cent Shops and Double Eagles Prizes" article is now available in its entirety by placing your mouse over the "Guest Blog" block and initiating the drop-down menu. Within a week, I will also be adding Scott's San Francisco Seated dime article is the same manner.

For those Blog readers who are new and have not noticed the wealth of information at the Daily Blog Greatest Hits drop-down menus, following is a screen capture. If not having a busy day, there are a host of informative articles with simplified access for reading pleasure.

Daily Blog Greatist Hits

Drop-Down Menu Illustration

 

How Does GFRC Illustrate Reverse Die Alignment?

Have you noticed that GFRC employes two types of reverse die alignment portrayals within sales list images? Many of you may not have noticed....

When processing GFRC images, a decision is made for each image with respect to how the obverse to reverse die alignment will be illustrated. Reverse die alignment is a big deal to certain die variety collectors but for many, it is not.

Reverse die alignment illustration is a function of the TPG holder that encases the coin. TPG holders come in two major flavors; early generation inserts that hide the rims and secondly, modern inserts with edge view prongs. The latter holders, and their edge view prongs, facilitate rotational measurements between the obverse and reverse. For older standard insert holders, there is no measurement or alignment basis.

Therefore GFRC uses the following reverse rotational alignment convention when processing images.

- Standard insert holders: The obverse and reverse are aligned at 180 degree coin turn regardless of the actual reverse die rotation

- Edge view holders: The obverse and reverse are aligned as seen within the holder.

Case in point are two RCA Collection Barber quarters per below. The 1892-S is housed in PCGS Gen 4.4 (2005-2011) holder with standard ring insert and is therefore shown with perfect 180 degrees coin turn alignment between obverse and reverse. The 1895-S is housed in PCGS Gen 6.0 (2015 onward) with edge view insert. The actual reverse to obverse rotational alignment is as seen on the coin since the prongs allow for capturing the precise alignment across the obverse and reverse images.

    1892-S PCGS AU55 25C                                                     1895-S PCGS AU50 25C

    

 

Global Financial News - Crude Oil Prices Plunge

A short trading week starts with the Nasdaq index continuing to pull back along with a plunge in crude oil prices. WTI crude oil is down to $37.98/bbl due to ongoing weak demand and a shutdown of the India economy due to accelerating Covid-19 pandemic. Following are the Seeking Alpha headlines that will bring you up to date on crude oil and India's Covid-19 status.

Oil demand remains weak. Saudi Aramco has cut the October official selling price for Arab Light crude it sells to Asia by the most since May, while the world's top oil exporter also lowered prices to the U.S. for the first time in six months. The move compounded losses in the WTI crude benchmark, which fell 4.5% to $37.98/bbl on the news, after tumbling 7.5% last week as the coronavirus crisis appeared to stage a comeback in parts of Europe, while cases in India surged. U.S. energy firms also added oil and natural gas rigs for the second time in the past three weeks, according to a weekly report by Baker Hughes, while shale producers are stockpiling federal drilling permits in the Permian Basin.

Second-highest coronavirus case count. India has surpassed Brazil as the country with the world's second-highest number of coronavirus cases, reaching more than 4.2M confirmed infections as the epidemic surges across the South Asian nation. India added the largest number of cases in a day with 90,802 recorded on Sunday. More than 71,000 people have died from COVID-19, making India the third-largest by number of deaths. Prime Minister Narendra Modi’s government initiated the world’s biggest virus lockdown in the country of 1.3B people in late March, leading to a GDP contraction of 23.9% in Q2, but the economic and social costs have forced a gradual reopening.

Morning market futures, courtesy of Seeking Alpha, illustrate the ongoing Nasdaq index losses that started last week.

In Asia, Japan +0.8%. Hong Kong +0.1%. China +0.7%. India -0.1%.

In Europe, at midday, London -0.4%. Paris -1.5%. Frankfurt -1.1%.

Futures at 6:20, Dow flat. S&P -0.6%. Nasdaq -2.3%.

Spot gold pricing has also retreated a bit to $1919/oz while the 10 Year U.S. Treasury bond yield stands at 0.69%.

My Merrill Lynch money manager is waiting for my signal to begin moving back into gold. I will be closely watching the Kitco 10 Year technical chart for that decision in the coming months.

 

Wrapping Up The Blog

It is best to end the Blog here and move on with another GFRC office day. The packing and shipping queue is reasonable and will keep me out of trouble until noon time. Afternoon brings one hour in the back acreage for trail improvement followed by processing the balance of the RCA Barber quarter collection images.

Thanks for returning to the Blog each day. Purchases are most welcomed.

I look forward to seeing you on Wednesday morning at the Blog.

 

 

 

 

September 7, 2020

Documenting Southern Maine's Autumn 2020 Foliage Season

and

Cool Pikes Peak Collection Offerings - Part 2

 

Greetings and welcome the the Blog on a Labor Day holiday. Thank-you for checking in.

Thick fog and 100% humidity are 6:30 AM weather conditions in Southern Maine with a temperature of 59F. How I wish it would rain but that will not be the case. Instead, the fog will burn off exposing bright sunshine by noon time. It will be another perfect outdoor day with a forecasted high of 77F.

 

Documenting Southern Maine's Autumn 2020 Foliage Season

The Northern New England foliage season has arrived. Moving forward, each week will expose nature's beautiful end of season foliage colors. For readers who are unable to travel to New England during September and October timeframe, I will be documenting the Autumn 2020 foliage season in the Blog. Each Sunday, the same panoramic image will be taken from the back deck to visually capture autumn's color progression. Today's Blog brings a baseline image with some faint crimson visible within the maples on the right. In less than a month, this entire landscape will become a grand portrait of reds, yellows, and gold with peak colors around October 18.

Southern Maine - Autumn 2020 Foliage Baseline - September 6, 2020

 

Progress with Homestead Perimeter Landscaping Project

A host of homestead projects continue to be underway prior to our annual Florida migration. Since Matt, Chikae, and Natsumi were unable to return to Maine this year due to the Covid-19 pandemic, the timing was ideal for conduct several major home improvement projects. While Diane is coordinating the bedroom floor renovations, I've been focused on cleaning up homestead perimeter landscaping and building trails in the back 20 acre lot. All of these activities are ongoing while still operating the GFRC business at a regular pace.

During Labor Day weekend, the left side of the home landscaping has had my attention. Weeds have penetrated the earlier weed mat and the thin rock bed that is located under the glassed sunroom. This location is ideal for storing and drying firewood. However, the accelerating weed growth has made it an eye sore. Beautification meant digging out this entire area and installing fresh weed mat with four inches of 3/4" stone. Below are two snapshots taken on Sunday afternoon.

Homestead Perimeter Landscaping Progress

Filling In With 3/4" Stone                                                             Finished Area     

    

The filled in area has already consumed about three yards of stone. Remaining is another section to the left of the cleaned-up area that will require another day's effort and will consumed another three yards of stone. I will probably start this last section this afternoon as GFRC order rates have been quiet.

 

Cool Pikes Peak Collection Offerings - Part 2

More GFRC photography took place on Sunday including a twenty piece Barber quarter consignment from the RCA Collection and additional pieces from the recent Pikes Peak consignment. To ensure that Blog readers always have a numismatic visual presentation as a reward for checking in, I found some post-dinner energy to process a few images.

Following are five new offerings from the Pikes Peak Collection. The 1878-S Trade dollar is a crusty original example with choice surfaces and CAC approval. The 1936 Cleveland commemorative offerings are really cool. My assumption is that these four pieces were part of an original roll since the PCGS serial numbers are sequential (19338635, 19338643, 19338649, 19338653) though spaced enough to include other Clevelands that were assigned lower grades. A Cleveland commemorative at the MS66 grade level with CAC approval is not an expensive coin. Pricing does jump significantly at the MS67 level. My hopes are that someone steps forward and purchases these four pieces as one lot to preserve this mini-hoard.

Pricing recommendations have been issued to the consignor. Once approved, these will immediately post to the price list.

 

Cool Pikes Peak Collection Offerings - Part 2

Crusty Original 1878-S PCGS EF45 CAC T$1

 

Pikes Peak Collection

From an Original Cleveland Commemorative Roll?

1936 PCGS MS66 CAC 50C                                                   1936 PCGS MS66 CAC 50C  

    

1936 PCGS MS66 CAC 50C                                                    1936 PCGS MS66 CAC 50C  

    

 

GFRC Offerings for the Balance of Week

The West Coast Collection consignment of Liberty Seated dimes and quarters has received a substantial amount of First Rights of Refusals. To ensure that no one forgets their requests, I will move up this consignment to the front of the queue along with the RCA Barber quarters. Speeding up the presentation is Len Augsburger's agreement to prepare the West Coast Collection descriptions.

Image processing for both the West Coast and RCA Collection consignments will begin in ernest on Tuesday. If all goes to plan, both consignments will be showcased in the Blog during the Thursday thru Fridayy timeframe and promptly loaded to the price list.

 

Consignments Wanted

By the middle of September, the GFRC consignment queue will have thinned out. The second half of September brings an opportunity for quick turnaround of new consignments towards refreshing the GFRC price lists.

GFRC is currently seeking consignments for the following product lines;

- Capped Bust and Liberty Seated half dimes

- Capped Bust, Seated, Barber, and Standing Liberty quarters

- Capped Bust, Seated, and Baber halves

- Seated and Trade dollars

- U.S. Gold

 

Wrapping Up The Blog

Again, thanks for making the Daily Blog a part of a regular day's reading.

I will be in the GFRC office the entire morning and working on the perimeter landscaping during the afternoon hours. Your purchase orders are most precious as Sleepy September is living up to its reputation. Consignors wish to sell coin. This is my mandate as GFRC operator and owner. Some consignors will grow impatient and request their coins back if not quickly sold.

See you on Tuesday morning at the Blog. Be safe and well.

 

 

September 6, 2020

GFRC is CAC Approved U.S. Gold

and

Len Augsburger Weighs in on Dipping

 

Greetings and welcome the the Blog on a Sunday morning. Labor Day Weekend is upon us and a reminder that snows are just a few months into the future. It is best that we fully enjoy the Autumn season.

 

Daily Blog Will Document 2020 Maine Foliage Season

In anticipation of the forthcoming autumn foliage season, some quick research indicates that Maine's inland peak colors occur between October 1 and October 17. The later day is southern Maine. Coastal Maine peak colors are a tad later, between October 5 and October 21. Raymond is in a border line location between inland and coastal therefore my expectation is for peak colors between October 18-20.

To celebrate the 2020 Maine foliage season, I will be posting regular images of the coastal horizon view from the back deck. Look for the first image starting with the Labor Day blog edition. This will be a baseline image with some crimson already starting to appear.

 

Fresh CAC Approved U.S. Gold Arriving to Price List

Maintaining a consistent and well stocked inventory of CAC approved U.S. gold is an ongoing challenge. With persistence, Gerry and Dan have been able to locate the best possible CAC approved gold values in the marketplace. Supply chain relationships along with diligent searching are critical for sustaining CAC new offerings. Of course, plain old luck comes into play, especially when recognized for being a top retailer of CAC approved U.S. gold. I'm pleased to report that GFRC currently has fifty CAC gold coins in inventory that are readily available. These gold offerings are collector centric and not bullion pieces.

Last week brought the arrival of two incremetnal lots. The first was a five piece new purchase from an existing GFRC client. The second was an eclectic Osprey Collection consignment and my submission of select gold pieces to CAC for approval. We did well with the 1862 PCGS AU58 G$2.5, the 1895 NGC MS63 G$2.5 and the 1895 PCGS MS63 G$20 being rewarded with green beans.

Up next is an attractive gallery of forthcoming GFRC price list offerings. These will be posted later today. Of course, First Rights of Refusals are always welcomed. For those who are curious, the two non-CAC featured G$2.5 pieces were submitted but not approved. They are quality pieces yet borderline for approval.

 

Fresh CAC Approved U.S. Gold Arriving to Price List

1862 PCGS AU58 CAC G$2.5                                                   1856 NGC AU55 CAC G$3

    

1891-CC PCGS AU58 CAC G$10                                                   1898-S PCGS MS62 CAC G$10

    

1854 Type 2 PCGS AU55 CAC G$2.5                   1847-O PCGS AU53 G$2.5                         1850 PCGS VF35 CAC G$2.5        

            

          1895 NGC MS63 CAC G$2.5                     1907 PCGS MS63 OGH G$2.5                       1895 PCGS MS63 CAC G$20        

            

 

Len Augsburger Weighs in on Dipping

It has been awhile since Len Augsburger issued one of his guest blogposts. Len has been consumed with a massive Newman Numismatic Portal online Symposium event and reports over 40 guest speakers and 1000 registered attendees via Zoom conferencing. The event's success continues to reinforce the thirst for knowledge among the numismatic community. The Daily Blog is just one of many publications that services collector's quest for new insights.

Saturday brought a surprise guest blogpost from Len after reading the past two day's ramblings on the dipping topic. His advice to dip a few inexpensive silver coins to gain first hand knowledge of the overdipped "look" is well stated.

 

On Dipping

For those wanting to know more about dipping, I advise acquiring some “junk” silver coins and experimenting with a jar of Jewel Luster or other dip. Some coins improve, some don’t. I remember one case where I dipped a coin and thought “Wow, that looks a lot better.  Let’s dip it again and see if we can make it even nicer!” You guessed it, the coin now looked washed out and not at all attractive. Some coins should be dipped, but the trick is to know which ones – and how much. Depending on the coin it can be a high stakes game.

As for CAC endorsement, I’m sure they’ve certified a lot of dipped coins, but virtually no overdipped  coins. It’s a fine line, and one of the reasons PNG had trouble agreeing on a precise definition of coin “doctoring.” The fact is, a coin may well improve the first time it gets dipped.

For expensive coins, this is where provenance comes into play. You look at a coin in an auction twenty years ago, see that the toning is stable, and you can reasonably assume no one has messed with the coin in the meantime. Conversely, with the explosion of Internet resources, collectors often identify coins that have clearly “evolved” since a previous auction appearance. These are often posted on the PCGS US Coin Forum and other chat sites.

So, how does a collector defend themself?

1) Dip a few coins yourself and familiarize yourself with the “look” of the overdipped ones. Do not even think about trying this on a rare coin until you’ve experimented with a lot of coins worth only melt value. I’ve never dipped a 19th century coin – let the experts at the grading services make the determination if that’s even necessary.

2) Look at a lot of CAC-certified coins and study the fields carefully. Looks for hairlines and compare directly with pieces that are clearly excessively cleaned.

3) Work with dealers that emphasize originality and aren’t afraid to call foul on an overdipped coin that somehow made it into a holder.

Like grading, this is all on a continuum. No coin grades “exactly” AU, but rather will have variable attributes of luster and wear that may lean toward an EF or MS classification. Thus, you can look at a dozen AU pieces and more or less rank them within the AU grade. So it is with dipping – the results are variable, and some amount is in fact market acceptable.

 

Wrapping Up The Blog

Like yesterday, I will be working in the GFRC office or working on homestead perimeter landscaping. Six yards of 3/4 stone must be removed from the driveway before the snows fly else our snow plowing person will be very angry with me.

Sleep September is living up to its reputation this year. After a non-stop August, September order rates have slowed dramatically. I will do my best to load a host of new offerings during the coming week to stimulate sales.

Consignments Wanted! Please consider GFRC if wishing to part with a portion of your numismatic collection. I will gladly take on new consignments as long as pricing expectations are consistent with the current market. If hoping that GFRC can work miracles and secure "moon money" for your coins, please reconsider that consignment. My business philosophy is to price coins fairly (just check the Sales Archive for examples of prices realized). "Burying" a client into an overpriced coin is not part of my DNA, therefore pricing expectations should be consistent with current market and price guides. If a potential client's pricing expecations are too high, I will refuse to handle the consignment.

Let's end at this point. Thanks for checking in on a Sunday morning. Please be well and safe.

 

 

 

September 5, 2020

Happy Labor Day Weekend!

and

Sooner Collection - Liberty Seated Halves Arriving to Price List

 

Greetings and welcome the the Blog on Labor Day Weekend.

The weatherman has been spot on with respect to weather conditions. Friday brought a bright sunny that facilitated an hour of photography. Today's weather will be a repeat with low 70s and bright sunshine. It is most difficult to spend time in an office when the outdoors weather conditions are ideal for wrapping up landscaping projects.

Our mulch beds are again under attack by chipmunks. During the spring, the chipmunks were active and easily seen from the office window. Once spotted, I could quickly head to the front yard and deal with them. Presently, the chipmunks are approaching for an alternative path that is not visible to me. My only alternative is to conduct a stakeout but that timing coincidence with writing the Blog. Attention to the Daily Blog has priority.

 

Sleepy September Arrives - Orders are Most Appreciated.

The realization has set in that Sleepy September is indeed here. GFRC has no shipments to prepare this morning as orders have slowed significantly. On a positive note, having three days without morning shipping provides additional time to focus on other items on the "Must Do" list. The top priority item is pulling another substantial Estes model rocket kit order and quoting the buyer. This individual has been waiting patiently for over a month in the hopes that I would allocate time away from the GFRC business and Ledge Hill Trails project.

During September, every order is cherished!

 

Dipping Versus Improper Cleaning Question

The City by the Bay Collection consignor is not shy about asking questions. Yesterday's commentary on whether CAC approves dippeed coins spawned the following question. This questions asks for a differentiation between dipping and improper cleaning. I'll do my best to respond.

Thanks for your attention to dipping in this morning’s blog post. Aside from the CAC question that you received, I have always wondered what criteria are used by the third party grading services to draw the line between the coins that have been subjected to a ‘quick dip’ versus those that have been “improperly cleaned”.  I realize that there are other manners of cleaning that clearly earn an improper cleaning description, but I have seen many where the details rating appeared to be strictly related to dipping. 

Let's start by reviewing what "dipping" actually is and how it is employed via this 2012 article written by Jeff Garrett and posted on the NGC website at this link.

https://www.ngccoin.com/news/article/2831/dipping/

 

To dip or not to dip…that is sometimes the question!

Posted on 7/5/2012

The temptation to dip a dull or dirty coin can be great, but the practice is rife with risk.

By Jeff Garrett

Much has been written about the subject of so-called “coin doctoring” in the last couple of years. I don’t like this term, as it suggests there is an evil element in the numismatic world trying to destroy our hobby. I don’t believe this is true. The subject has been much discussed and even the Professional Numismatists Guild (PNG) struggled for many months trying to define the problem. One thing that has been clarified is that “dipping a coin” is not “coin doctoring.” Nearly everyone has heard the term “dipping” but many probably don’t know the exact definition. It falls into the general category of rare coin conservation and most certainly is an interesting subject to discuss, especially for non–professionals.

For most, the term “dipping” refers to dipping a coin into a rather mild silver cleaner. There are several brands, but the most commonly used is Jewel Luster. This product has been on the market for decades. It is the bright blue solution familiar to anyone who has been around coins for a while. I have heard that Jewel Luster is actually not blue, but blue dye is added to discourage individuals from exposing their skin to the solution for prolonged periods. If you know someone with blue finger tips—which, believe me, I have seen plenty of—now you know the reason. I’m not sure of the long term health hazards of Jewel Luster, but any negative news on this topic would be of great concern to a large number of coin dealers that I know. It is highly recommended to use rubber gloves and work in a well ventilated area when dipping coins.

Many of you may wonder why individuals dip coins in the first place. The simple answer is the “market demand” for frosty white silver coins. Sometimes, you read Letters to the Editors in numismatic magazines howling about the evil act of coins being cleaned. Nearly all totally condemn the practice, and tout the virtues of fully original coins. The problem is most rare coin buyers prefer frosty white coins to deeply toned coins.

There are three basic types of appearances for silver coins. The most desirable is a beautifully toned example. Attractive toning varies greatly and can be a matter of personal taste. Beautifully toned Morgan Silver Dollars can bring astronomical prices, and there is even a specialty club devoted to such coins. I would estimate that less than 10% of all vintage Mint State silver coins have survived with what would be considered beautiful or attractive toning. Next are the coins that are frosty white, or nearly white. Most silver coins that are more than 100 years old have some sort of natural toning if they have not been dipped. Frosty white coins probably make up about 20–30% of all silver coins seen. The remaining 60–70% have some sort of natural toning acquired over the years. The appearance of these coins varies greatly. Many have light, golden toning, and I have seen some that were almost black in appearance. The varied appearances are a primary reason that rare coins of the same grade can vary greatly in price.

By reading the above commentary, one could easily assume that the simple answer to getting the most money for a toned coin would be to dip it. Unfortunately, it is not that simple! In fact, it is not even close to simple! Just as there are many varieties of toning there are many possible outcomes of dipping a coin. Dipping an expensive coin can be an exciting or terrifying experience. It is much like buying an extremely expensive scratch off lottery ticket. A moderately toned silver coin can be dipped and turn out to be a sparkling Gem. Sometimes though, the resulting dip will reveal dull surfaces, environmental damage, scratches, hairlines, or other hidden damage and repair. The temptation to dip a dull or dirty coin can be great, but the practice is rife with risk. I have personally seen great success and brutal failures. A friend of mine paid over $100,000 for a 1901–S Barber Quarter around 1989. The coin was purchased raw and subsequently submitted for grading. The coin had natural, but rather unexciting, golden toning. It came back MS 66, and was not worth the six–figure purchase price which was paid for it. This particular dealer is famously unafraid of risk and dipped the coin! The result was one of the most spectacular Gems of the issue known. Upon resubmission, the coin graded MS 68 and was sold for a tidy profit. On the other end of the scale, I still have a Monroe Half Dollar that I purchased for over $5,000 around 1990. The coin looked to be a great prospect for dipping and I took the chance. A wide streak of grey environmental damage was revealed that I had not seen. I still have this miserable failure in my collection of hard–learned lessons (along with a few missed fakes).

Trying to predict the potential for success or failure before dipping a coin is very difficult. At the end of the day dipping almost always carries some degree of risk. I have seen about as many coins ruined as I have seen improved over the years. The practice will continue, however, as the market applies a premium to coins with frosty, white surfaces. The next time you are tempted, remember the risk, and get a second opinion, if possible. NGC has worked hard over the years trying to help collectors and dealers with this complicated issue. I applaud them for opening an affiliated company, Numismatic Conservation Services (NCS), and bringing an enhanced degree of professionalism to this subject. Hopefully, this article has given some clarity to an issue that many find mystifying.

The Garrett article makes it clear that dipping a silver coin in Jewel Luster to remove a thin toning skin is perfectly acceptable to the elders in the hobby and Third Party Grading services. During the early TPG days, it was well known that brilliant frosty coins should be sent to PCGS while toned coins should be graded by NGC. PCGS was an advocate of dipping to expose original mint frost while NGC would "reward" original toning.

Jewel Luster is nothing more than diluted sulfuric acid. Sulfuric acid will react with silver oxides and eliminate them from a silver coin's surface. A quick 10-15 second dip will remove a few molecular layers of toning that is haze on proofs or light toning on Mint State circulation strikes. The longer a silver coin is exposed to sulfuric acid, incremental attack of the surface takes place. As the sulfuric acid eats away at the surface, the irregular molecular characteristics that generate luster are removed. We've all seen coins that have been over dipped and come out as lifeless creatures.

Dipping is a chemical clean. There are many ways to conduct "mechanical cleaning". Wiping a coin with a soft cloth is one example of a mechanical clean and thus the term "wiped" when seeing coins with glossy luster that is unnatural. Worst case cleaning can take place with a pencil eraser or other abrasive films.

I believe that the TPGs see dipping as an "acceptable cleaning" while all other mechanical cleanings are seen as "improper cleaning". That is just my humble opinion.

 

Sooner Collection - Duplicate Liberty Seated Halves

Today brings a second client gallery from the Sooner Collection. This individual is a classic example of a long term customer turned consignor after some "encouragement" by yours truly.

The following offering is the first of several lots of "duplicate" Sooner Collection Liberty Seated halves. One can immediately note that the lot starts with 1839 No Drapery and Drapery offerings and closes with an 1850-O date. Several of these piece were purchased from GFRC and came be found in the Sales Archive.

This lot is a bit eclectic with something for everyone. Grades are varied along with a nice mix of major varieties. Offer prices have been approved by the consignor which means I can quickly post to the price list. My goal is to have all offerings on the price list by end of day. This will enable work on yet another client gallery and a nice lot of U.S. gold that was purchased this week.

Sooner Collection - Duplicate Liberty Seated Halves

Arriving to GFRC Price List Today!

1839 No Drapery PCGS EF40

1841-O WB-1 PCGS AU55 50C                                                       1843-O PCGS EF45 50C        

    

       1847 WB-4 PCGS AU50 CAC 50C                                              1850-O WB-13 PCGS AU55 50C         

    

1839 Drap  PCGS VF35 50C                 1840 Dld Date WB-10 NGC VF20 50C                     1840 PCGS EF40 50C      

            

1840-O ANACS EF45 50C                           1842 MD PCGS AU55 50C                              1843 PCGS EF45 50C   

            

          1844 NGC AU58 50C                            1844-O WB-14 PCGS AU50 50C                   1845-O WB-12 NGC EF45 50C   

            

1846 MD ANACS EF45 OWH 50C                     1846 TD PCGS AU50 50C                         1846-O MD PCGS EF45 50C     

            

1848 PCGS EF40 50C                                   1849 PCGS AU50 50C                            1849-O NGC AU50 50C   

            

 

Wrapping Up The Blog

I will be in and out of the GFRC office throughout the day. If not in the office, the cellphone is always in my pocket for taking your phone order. It is no issue to head back into the office to close a purchase order.

Email orders are the best during the Labor Day weekend. I will respond quickly as GFRC must continue to sell consignor coins. Every consignor enjoys receiving a GFRC consignment proceeds check in the mail.

Consignments Wanted.... Yes, the consignment backlog is currently robust but will only last for two weeks. Before long, I will need incremental consignments to keep me out of trouble.

Thanks for checking in at the Blog and wishing everyone a great Labor Day weekend holiday.

 

 

 

 

September 4, 2020

Sooner Collection Liberty Seated Half Dollar Highlights

and

West Coast Collection Consignment Offerings

 

Greetings and welcome the the Blog on a beautiful Friday morning. Labor Day weekend is upon us!

Clear blue skies and a brisk 59F are present weather conditions in southern Maine. Skies will remain cloudless the entire day as the mercury climbs to 82F during the early afternoon hours. Labor Day weekend brings the closing of the traditional summer tourist season. Come late September and early October, another wave of tourists will arrive to partake in northern New England's beautiful autumn foliage.

Thursday brought a slower paced day in the GFRC office. I took two hours off from the regular office workload to visit the Ledge Hill natural spring. The "visit" was actually a work session to clear the surrounding area of protruding roots and to carefully dig out more sediment from the bottom of the spring's pool and outlet area. After an hour long work session with shovel and cutters, I sat on the rock wall to rest and take in the serenity of being in the deep woods. I carefully studied the pool's surface as several frogs moved about. After a few minutes, I noted bubbles flowing to the surface in the outlet area along with the main pool. It become apparent that there are multiple feed channels from the spring. Armed with shovel, I once again dug and removed sediment from the outlet area when rising bubbles were noted. Afterwards, it became apparent that the sediment clearing effort had increased downstream water flow. I'm sure there will be many more "fine tuning" sessions at this natural spring to improve the surroundings and increase the depth of the main pool along with water flow.

 

Does CAC Approve Dipped Coins?

This past week, I received an email from the Pikes Peak consignor concerning some commentary seen on the PCGS Set Registry. A certain top rated Barber quarter collection, in the Everyman category, made mention of dipped coins being CAC approved. Following is the Pikes Peak's question.

Hi Gerry,

If you’re ever at a loss for words for the morning blog, I’d love to hear your thoughts on CAC and dipped coins. I was looking at a PCGS registry Everyman set of Barber quarters recently and was a little surprised at the owners comments on the coins, CAC approved, dipped... CAC approved dipped twice……CAC dipped.. My impression is CAC is very much into original coins, but dipping coins in the hobby seems somewhat accepted and it’s not necessarily easy to detect a dipped coin.. Of course it goes to individual preferences too… some people just like brilliant coins. So curious if you think CAC knowingly approves dipped coins if professionally done or if perhaps the set owner is not a good judge?

The response to this question is straight forward. Of all the CAC approved coins that I have seen and handled, a prior dipping conclusion has never come to mind during surface inspection except with one caveat. CAC approved coins, on a whole, are strictly original on a conservative basis. Is it possible that a frosty original Mint State coin has seen a quick dip to remove some toning towards a higher grade and gain subsequent CAC approval? Yes, it is possible but definitely not a thought I would consider given the continually original surfaces seen for coins with green beans.

Now that caveat... CAC will approve circulated early type coins with old paper album bullseye toning. Those circulated coin have been dipped or lightly wiped prior to being placed in the paper albums. The native silver surfaces are prone to toning from the sulfur rich paper in ring colors from edge to center. Personally, I would not approve these rainbow toned bullseye patterned pieces as they are not strictly original with natural gray patina. Sure the eye appeal is fantastic but the coins are not "original" as the majority of CAC approved are.

Dipping has been a common practice for 20th century coinage as past collectors desired flashy luster on their Mercury dimes, Standing quarters, and Walkers. Many Barber coins have also been dipped in the hopes of turning an AU58 into Mint State during TPG review. The owner of that particular Barber quarter Everyman set may have his own personal opinion on the appearance of a dipped Barber quarter. Should his comments be taken as authoritative or a subjective opinion? I would suggest the latter as no one can assert with 100% confidence if a brilliant frosty coin has been dipped.

What I can offer from my own CAC experiences is that CAC does not approve coins that have been notably dipped. John is super strict on originality.

 

Sooner Collection Liberty Seated Half Dollar Highlights

Last evening's program was processing images for a twenty piece "duplicates" Seated half dollar lot from the Sooner Collection. Tired eyes set in before I could complete the entire gallery. Following are four highlights from this new consignment offering. The balance will be completed today followed by COIN database loading and pricing recommendations. If all goes to plan, I hope to post the entire gallery in Saturday's Blog and also take the lot to the price list tomorrow.

 

Sooner Collection Liberty Seated Half Dollar Highlights

1841-O WB-1 PCGS AU55 50C                                                       1843 PCGS EF45 50C        

    

       1848 PCGS EF40 50C                                                       1850-O WB-13 PCGS AU55 50C

    

 

 

West Coast Collection Consignment Offerings

It has been several years between West Coast Collection consignments. This indiviudal is an entrepreneur who is aggressively expanding his business and has had little time for numismatics. I was pleasantly surprised to receive an email earlier last week with an indication that he was ready to sell his Liberty Seated quarter collection. To be efficient with the USPS Express shipment, he also added a small group of Liberty Seated dime duplicates.

The West Coast consignor has an excellent eye for strict originality and typically does well during CAC submissions. His Seated quarters consignment arrived with an 80% CAC approval rate and includes many "difficult dates" when considering the presence of a green bean. A first pass review, under bright light, of the individual pieces was an absolute delight. There are several pieces that will garner a "gem" quality rating.

It is my pleasure to present the entire contents of the new West Coast Collection consignment for your review and First Rights of Refusals. These new offerings will be photographed today and queued for a near term client gallery presentation.

Seated 10c: 1840 Drapery PCGS AU55; 1861-S PCGS EF40; 1865-S PCGS EF40; 1871-S PCGS AU55; 1891-O PCGS MS63 CAC

Seated 25c: 1839 PCGS VF25 CAC; 1840-O Drapery PCGS VF35 CAC; 1842-O Lg Date PCGS VF30 CAC; 1842-O Sm Date PCGS G04 CAC; 1850 PCGS AU50 CAC; 1850-O PCGS VG08 CAC; 1851 PCGS EF40 CAC; 1851-O PCGS F12 CAC; 1852-O PCGS VF30 CAC; 1853/4 PCGS EF40 CAC; 1854-O Huge O PCGS VG10 CAC; 1856-S PCGS G04 CAC; 1856-S/S PCGS G06; 1860-S PCGS G06 CAC; 1865 PCGS VF20; 1865-S PCGS F12; 1867 PCGS VF25 CAC; 1867-S PCGS F12 CAC; 1868-S PCGS VF30 CAC; 1871 PCGS EF45; 1873 NA Closed 3 PCGS VG08 CAC; 1873-S PCGS VF30 CAC; 1875-CC PCGS VF35 CAC; 1877-S/S PCGS VF20; 1880 PCGS VF20 CAC; 1882 PCGS F12 CAC; 1889 PCGS EF45; 1891-O PCGS VF30 CAC

 

Global Financial News

A divergence is appearing between Asia and Europe/U.S. equity markets of late. This morning's market futures is an example of falling equity values in Asia while the western world economies continue to be in rally mode after bringing Covid-19 pandemic under control. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan -1.1%. Hong Kong -1.3%. China -0.9%. India -1.5%.

In Europe, at midday, London +0.8%. Paris +1%. Frankfurt +0.4%.

Futures at 6:20, Dow +0.8%. S&P +0.6%. Nasdaq flat. 

On Thursday, the Nasdaq suffered a sell-off of its major listed companies including Apple, Amazon, Google, Facebook, etc. There is speculation on the reason for the sell-off per these Seeking Alpha headlines. From personal experience, with my own financial portfolio and Merrill Lynch account manager, we agreed to start existing tech stocks due to substantial increases in valuation. Yesterday's drop was most likely a case of many investors conducting sector rotation at the same time.

An ugly session. Tech stocks that have powered U.S. equities to record highs this summer went into sharp reverse on Thursday, with the Nasdaq Composite dropping 5%, and the Dow and S&P 500 falling 2.8% and 3.5%, respectively. Apple and Tesla contributed a big portion of those losses, falling over 8%, while Facebook, Amazon, Netflix, Alphabet and Microsoft  also closed the session sharply lower. Futures were still red at the start of the night, though contracts tied to the Dow and S&P 500 have changed direction to trade 0.8% higher, while the Nasdaq erased its losses.

What happened? The tech bloodbath is still being analyzed by analysts and traders alike, with opinions spanning the spectrum as to what drove the market selloff. Some are pointing to profit-taking, the "Retail Bros" and a long-due breather, while others are drawing attention to record valuations and a rotation out of tech. How long will it last? That's also a matter of debate. Was it just a flash crash, or the start of a correction that signals a broader sentiment shift? Join the discussion in the comments section.

Spot gold prices are back to the middle of a trading range with a quote of $1945/oz to start the day. Crude oil is priced at $41.81 while the 10 Year U.S. Treasury bond yield is at 0.65%.

 

Wrapping Up The Blog

Yes, I am aware that the Blog publishing time is a bit delayed today due to a significant amount of content and also breaking away with my 0.22 pistol to chase down two chipmunks that are once again digging up our front yard mulch beds.

Today brings a huge photography day along with wrapping up the pre-work on the Sooner Collection Liberty Seated halves.

I will be in the office the entire day. If the urge to walk down the Ledge Hill natural spring takes hold of me, I will have the cellphone to respond to calls or check emails while sitting on the rocks.

Thanks for checking in at the Blog. Let's get ready for a great Labor Day Weekend!

 

 

 

 

September 3, 2020

GFRC Returns to the Manchester NH Coin Expo in One Month

and

Eye Appealing Seated Coinage Consignment Heads to Price List

 

Greetings on a Thursday morning and welcome to more daily ramblings. Labor Day weekend arrives in less than 48 hours!

How I love the autumn season in southern Maine as daytime temperatures slowly cool down along with pleasant evenings that require a light jacket. September 1 is the first day of meteorological autumn in the Northeast. Meteorological autumn includes the three months of September, October, and November. By early November, the probability of the first season snowfall quickly increases. At this point, the GFRC migration to Venice Florida is still an unknown. Honestly, I'm in no hurry to return to Florida this year and have plenty of firewood to keep the Maine homestead warm. There has been a huge amount of effort to remodel the homestead and the land. Why not stick around a little longer?

 

Ledge Hill Trails - Phase 1 Project is Done.

It is done! I spent several hours raking and seeding the last of the backyard bare ground on Wednesday just prior to the rain arriving. The timing was perfect as the first shower appeared while I was rolling seed and fertilizer into the ground with the John Deere. Late afternoon and evening brought steady rain that was ideal for a newly seeded lawn. The steady rain was enough to soak the soil without creating runoff. What a relief this morning knowing that this project has been completed. Next on the outdoor list is finishing the homestead's peripheral landscaping improvements and spending time on the Ledge Hill trail down to the natural spring. The trail is rough and requires thorough cutting of trip hazards and filling in holes due to removed rocks. Once this is accomplished, Diane and her walking friend will be able to regularly use this trail.

 

A Host of Consignment Photography Starts Tomorrow

GFRC consignment backlog is in a healthy position going into Labor Day weekend. Requiring photography are four consignments including a 20 piece Barber quarter lot from the RCA Collection, an eclectic offering from the Osprey Collection, more Carson City Seated coinage from the Murphys Collection, and a broad-based CAC approved Seated quarter and dime consignment from the West Coast Collection.

The near term weather forecast is calling for bright sunny conditions on Friday and Saturday. You can bet that I will be outdoors with the portable photography bench starting tomorrow.

 

GFRC Returns to the Manchester NH Coin Expo in One Month

Wednesday brought the Manchester NH Coin Expo bourse application in the mail. I've emailed Ernie Botte that the application will be back in the mail today with check payment. In exactly one month, GFRC will be taking its first step towards re-engaging with its familiar presence on the coin show circuit. My application for Winter FUN was also mailed to Cindy Wibker this week. At Winter FUN, GFRC will be present with a single corner table, Randy Campbell has also roped me into giving a Liberty Seated coinage overview presentation on Saturday January 9 at 12:30 PM.

The Manchester NH coin show is the fourth regional coin show, that I am aware of, to restart operations. The Dalton GA show took place in August. The Columbus Ohio (CONA) show opens today for dealer setup. The Gettysburg National Battlefield show is also on. Slowly, numismatic life is starting to return to the "new normal". The key question for dealers is whether coin show attendance in the "new normal" will be worthwhile. You can count on GFRC and the Daily Blog to report the Manchester NH Coin Expo happenings in one month's time.

 

Eye Appealing Seated Coinage Consignment Heads to Price List

I hope that the GFRC community is ready for the posting of this lovely consignment from an anonymous client. Once morning shipping is completed, the following lots will reach the price list. Those with First Rights of Refusal will be sent courtesy emails.

Unquestionably, the best offering in the lot is the 1858 PCGS AU55 CAC Seated half that deserves a gem quality rating. Eye appeal is superior and will be cherished for years to come.

Two other important offerings need a shout out. First is the 1838 F-110a Seated dime in Mint State. This is a rare opportunity to secure a Mint State example of Shattered Obverse #2 (Greer designation). If you check the Seated Dime web-book, my plate coin continues to be a PCGS EF45 example as locating a F-110a AU or Mint State upgrade proved to be very challenging. Now this choiee MS63 specimen appears. Second is the 1851-O dime graded PCGS EF45 with CAC approval. This date is so challenging to locate choice in EF45 or better. CAC has approved all of 13 examples with the CDN CAC price guide being ridiculously low. As an FYI, both of these offerings already have FRoRs.

Eye Appealing Consignment Heads to Price List

1838 F-103b NGC AU50 10C                                                   1838 F-110a NGC MS63 10C

    

1851-O PCGS EF45 CAC 10C                                                   1858 PCGS AU55 CAC 50C

    

           1862  PCGS AU58 CAC 3CS                      1839 F-106c NGC MS62 10C                   1840 Drapery PCGS VF25 CAC 10C  

            

 1862 F-101a NGC MS63 CAC 10C                  1869-S F-101 PCGS EF45 10C                       1840 Br 1-B NGC VF25 25C      

            

       1850-O Br 1-B PCGS VF20 25C                      1873 Arrows PCGS AU50 25C                          1892 PCGS AU58 25C                

            

 

Global Financial News

After the Dow Jones Industrial Average closed at 29,100 on Wednesday, United States morning market futures are in the red. Outside of the U.S., Europe equity markets continue their rally while Asia is mixed. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan +0.9%. Hong Kong -0.5%. China -0.6%. India -0.1%.

In Europe, at midday, London +0.6%. Paris +1.8%. Frankfurt +1.2%.

Futures at 6:20, Dow flat. S&P -0.2%. Nasdaq -0.6%.

Looking at major commodities, both gold and crude oil prices have dropped. Gold pricing is down for a third day at $1938/oz while crude oil has pulled back to $40.85/bbl. The 10 Year U.S. Treasury bond yield stands at 0.66% to start the day.

The forthcoming rollout of Covid-19 vaccines is today's leading Seeking Alpha headline.

Get ready for vaccine distribution. "Prepare for a Covid-19 vaccine to be ready by Nov. 1," the Centers for Disease Control and Prevention declared, notifying public health officials in all 50 states and five large cities to prepare for distribution. Technical specifications were given for two candidates, dubbed "Vaccine A" and "Vaccine B," including requirements for shipping, mixing, storage and administration. The details appear to match vaccines being developed by Pfizer and partner BioNTech, as well as Moderna, which both require two shots 28 days apart. Pfizer has also stated publicly that it is on track to seek an emergency use nod as early as next month.

 

Wrapping Up The Blog

Thrusday brings a full day in the GFRC office as I will attempt to play catch-up with consignment backlog. Once the morning shipping is completed, the anonymous client gallery coins will be posted to the price list. Afterwards is more image processing. Targeted are a 20 Liberty Seated half dollar lot from the Sooner Collection and a second installment from the Pikes Peak Collection, again more Seated halves and other offerings.

September sales are off to a slow start and I'm not surprised. September is the slowest sales month of the numismatic year, per GFRC experience. Actually, I'm looking forward to a slower pace after a non-stop busy August.

Thanks for visiting the Blog. I'm just a phone call away for a purchase order or potential consignment discussion.

 

 

 

September 2, 2020

Summer 2020 Consignment Wave Moves Into Autumn Season

and

Silver is Approaching Fair Value

 

Greetings and welcome to the Blog on a Wednesday morning.

Another southern Maine starts with dense fog and a forecast for rain from early afternoon through midnight. Why am I so concerned about rain? When attempting to plant a new lawn well away from the homestead building, the only option for success is nature's goodwill and periods of rain. This summer has been dry and that weather pattern is continuing into autumn. Any periods of rain are a much welcomed event.

Since only 60% of the disturbed backyard has been sown with grass seed, the balance must be completed later this morning after daily GFRC shipping. This remaining area is rough. It requires a thorough raking to remove loose rocks, uneven surfaces, and the cutting of protruding roots. Once these preparations are wrapped up, spreading fertilizer and seed is the easy part of the task. Attempting to balance the demands of the GFRC business with other goals requires tight scheduling.

Unfornately, little is prepared for today's Blog. Tuesday afternoon was spent loading Part 1 of the Pikes Peak Collection to the price list followed by processing images for another consignment. The need for sleep prevailed leading to an absence of a completed client gallery in today's edition.

 

Seth Godin Blog: Efficient or productive

Blog readers have seen the GFRC continuous growth during the past five years. I've often discussed the need for continuous improvements and finding higher efficienies concerning the many coin business tasks.

This latest Seth Godin blogpost takes me back to a semiconductor career and the focus on eliminating "non-value added" activities as part of a continuous improvement program. Every business process has activities that do not provide value and waste precious time. Godin appropriately points out that efficiency is not the overriding goal, but rather being as productive as possible. In other words, successful businesses place emphasis on those activities that directly correlate to end goals. If losing sight of the end business goal, there is a risk of optimizing and becoming efficient at tasks that are not important.

Efficient or productive

When time gets short (for new parents or startup founders, for example) we naturally focus on getting efficient. We can remove extraneous details and distractions and magically get much faster at getting tasks done.

But being efficient is not the same as being productive.

Productive is the skill of getting the right things done, so that we accomplish what we set out to do in the first place. The work that matters.

 

Summer 2020 Consignment Wave Moves Into Autumn Season

Tuesday brought another USPS afternoon Express delivery with two incremental consignments.

I'm pleased to report that the Summer 2020 Consignment Wave is continuing into the Autumn season given these latest consignments. The first is another installment from the Murphys Collection and features Carson City Liberty Seated quarters and halves. The West Coast Collection consignor is back after a multi-year hiatus. His nearly forty piece consignment includes a host of CAC approved Liberty Seated quarters and some duplicate better date Liberty Seated dimes.

At this point in time, it makes no sense to itemize the new consignment contents. The GFRC backlog has become substantial and attempting to secure First Rights of Refusal is a "non-value added" activity. Please keep checking in a the Blog, on a daily basis, for the latest consignment news. Once these new consignments move near the top of the queue, an itemized listing will be provided for your review and FRoR considerations.

 

Silver Metal is Close to Being Fairly Priced

There has been considerable attention paid to the price of spot gold in recent months by the financial media. Gold has moved to record levels as a result of increased global investor demand. I've read that pension funds are also beginning to add gold to their investment holdings. Gold pricing has been of primary GFRC concern, given the amount of U.S. gold inventory with larger denomination eagles and double eagles having a significant exposure to their bullion content.

With all the attention on gold, silver bullion pricing has also rapidly moved up to $28/oz. The value of junk silver and worn Morgan dollars has seen a significant increase in the past 60 days. Is silver now fairly priced at $28/oz?

The best way to assess if silver is fairly priced on any given day is to check the historical gold:silver rato trend. Following is a historical plot of the gold:silver ratio courtesy of goldprice.com website. Not long ago, the gold:silver ratio stood at over 100 meaning that over 100 ounces of silver were required to purchase an ounce of gold. A ratio of above 100 indicated that silver was underpriced and a bargain. As of this morning, the ratio presently stands at 70 and is slightly above an average point with respect to past history. Silver may have room to run up to $30/ounce before being fairly priced with its more expensive gold counterpart.

Historical Gold:Silver Ratio Plot

Approaching Silver Fair Value

 

Global Financial News

U.S. and Europe equity markets continue to be in rally mode as economies are recovering from the Covid-19 lockdowns. I checked the DJIA this morning. It presently stands at 28,645 and just a few percent points shy of its all time record. The Nasdaq continues to set daily new records as high tech has smartly benefited from the Covid-19 induced migration to online commerce.

Following are morning market future courtesy of Seeking Alpha.

In Asia, Japan +0.5%. Hong Kong -0.3%. China -0.2%. India +0.5%.

In Europe, at midday, London +1.7%. Paris +2.4%. Frankfurt +2.4%.

Futures at 6:20, Dow +0.8%. S&P +0.8%. Nasdaq +1.2%.

Spot gold pricing stands at $1976/oz while crude oil remains in a very tight trading range. The black gold is quoting at $42.86/bbl. The 10 Year U.S. Treasury bond yield stands at 0.69%.

A review of the Seeking Alpha headlines produced little of note and worthy of sharing.

 

Wrapping Up The Blog

Let's end today's Blog edition at this point. I need a quick shower before jumping into the day's shipping queue. I hope to be in the backyard by 10:00 AM towards wrapping up the lawn seeding before the rains arrive.

I will be back in the GFRC office during the afternoon hours and working on another consignment client gallery for tomorrow's Blog.

Thanks for stopping by and checking in.

 

 

 

September 1, 2020

GFRC Sells 301 Coins During August 2020

and

More New Consignment Highlights

Greetings on a Tuesday morning and welcome to the transitional month of September.

Why the use of the word "transitional" with respect to September? September brings a huge seasonal and daylight change to southern Maine. Days are quickly growing shorter. September 1 daylight time is 13 hours 17 minutes and will decrease to 11 hours and 14 minutes by September 30, a considerable reduction. Temperatures will drop with the first hard frost arriving by end of month. Finally, the autumn foliage colors will be earlier this year due to a dry summer.

Monday brought yet another busy day for your blogger. After the usual morning packing and shipping, the afternoon was spent fertilizing and seeding about 60% of the disturbed ground in the backyard. Once that task was completed, I said a pray for rain and proceeded to mow the entire grounds. That task wrapped up at 5:30 PM just in time for a pre-dinner tequila on the back deck followed by cooking dinner on the grill. Evening temperatures are dropping quickly at this point requiring a light jacket.

It appears that my prayers for rain might be answered. Magically, rain is forecasted for the latter half of Wednesday.

 

GFRC Sells 301 Coins During August 2020

Honestly, the month of August has been a moemnt in time but so rewarding from a business and homestead perspective. It is difficult to fathom what has taken place in the past 31 days.

I'm pleased to report that GFRC managed to sell 301 coins during August. Between the Saw Mill Run Collection auction, Oregon Beaver Collection sale, and the Christmas in August sale plus regular orders, GFRC enyoyed its best month ever in terms of sales volumes and the third highest sales revenue period since establishment. This accomplishment took place without the Summer ANA show. GFRC consignment proceeds increased to nearly $6.5M during August.

These business milestones would be noteworthy on a standalone basis. However, I managed to find time to conduct the first phase of the Ledge Hill "Trails" project in the back acreage. Diane has overruled me on the use of the word "Park" to describe the project's end state. She is afraid that if I continue to use the word "Park", the project will grow out of control as more features are designed. So moving forward, the project will be known as Ledge Hill Trails. Dave Wilkinson will be back in 2021 to conduct second phase work including completing full loop walking paths and unearthing the second natural spring.

 

GFRC Purchases CAC Approved U.S. Gold Lot

In Monday's Blog, I made mention of purchasing a fresh CAC approved U.S. gold lot. I promised to share those contents today.

Following are the newly purchased items that should arrive to the office by Thursday. For my convenience, a quick copy/paste was performed from the client's Word based invoice into Dreamweaver. First Right of Refusals are always weleomed.

GFRC U.S. Gold New Purchase

$1 1854 Type 2 AU55, CAC

$2.5 1850 VF35, CAC

$3 1856 AU55, CAC

$10 1891-CC AU58, CAC

$10 1898-S MS62, CAC

 

More New Consignment Highlights

Daily Blog editions without client galleries can be visually boring affairs. Following is a quick gallery highlighting a forthcoming consignment that is in the image processing phase. Please have a close look at the three important Liberty Seated dimes and a gem 1858 Seated half.

 

Forthcoming Consignment Preview

1838 F-103b NGC AU50 10C                                                   1838 F-110a NGC MS63 10C

    

1851-O PCGS EF45 CAC 10C                                                   1858 PCGS AU55 CAC 50C

    

 

Global Financial News

It is stock split mania for Apple and Tesla shares on the Nasdaq. Yesterday's stock split trading was greeted with more gains during the daytime trading hours. Overnight futures continue to show sustained rally momentum that is propelling the Nasdaq to a 1.1% opening increase. Following are market futures courtesy of Seeking Alpha.

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

In Europe, at midday, London -1.2%. Paris +0.5%. Frankfurt +0.8%.

Futures at 6:20, Dow +0.1%. S&P +0.3%. Nasdaq +1.1%.

Here is the supporting Seeking Alpha headline.

Stock split mania. Shares of Tesla are up another 7.5% to $533 premarket, adding to the 12.5% rally seen yesterday after the company split its stock 5-for-1. Apple shares are meanwhile ahead by 2.6% to $132 in early trade, following their 3.4% advance on Monday (the two stocks are up 34% and 81%, respectively, since announcing the splits just a month ago). In fact, the high trading volumes of the "Retail Bros." appear to be taking down popular brokerages like Robinhood and TD Ameritrade, with outages reported for many users at the market open on Monday.

Spot gold prices continue their rally and are quoting at $1998/oz. Crude oil is priced at $43.07/bbl. The 10 Year U.S. Treasury bond yield stands at 0.72%.

The following Seeking Alpha headline is fair game to publish. I don't want to see emails complaining that I am introducing politics into the Blog. There has been a substantial betting odds momentum shift towards Donald Trmp being re-elcted president.

Increasing chances of a Trump win - JPMorgan. Position your portfolio for the rising odds of President Trump winning re-election, according to JPMorgan Chase & Co., which says the spread between him and challenger Joe Biden is now nearly even. That's largely due to the impact on public opinion of violence around protests, as well as potential bias in polls, said strategist Marko Kolanovic. "Implications could be significant for the performance of factors, sectors, COVID-19 winners/losers, as well as ESG, though certainly a lot can happen in the next ~60 days."

 

Wrapping Up The Blog

I'm pleased that you could stop by at the Blog on a Tuesday morning or whenever time allows.

There is a huge amount of work to catch-up on in the GFRC office that will keep me occupied for days. Hopefully, some progress can be made today with the Pikes Peak Collection.

It is best that I get to the shower and promptly into the packing and shipping department. Therefore let's close here.

Thanks for visiting.

 

 

 

 

August 31, 2020

Welcoming the Pikes Peak Collection Consignment

and

GFRC August 2020 Sales Stand at 297 Coins

 

Greetings on the final day of August and welcome to another Daily Blog edition. I'm pleased that you could stop by.

Problematic is the best term to describe yesterday morning. My ISP provider, Hostway, suffered an outage leaving no access to the GFRC website and an inability to connect for FTP transfers. Before long, several Blog readers were going through withdrawal symptoms and sent emails to remind me that the Blog was not available. Let me just say that if the Blog is not appearing online, there are two probable causes. Either the ISP is having difficulties or I am incapacitated. The probability of a Hostway issue is greater.

If the Hostway issue was not enough, the northern area of Raymond suffered a power outage. The gas generator was fired up and I took a shower per normal before heading into Windham for fertilizer and grass seed. Once returning home, the Blog was uploaded and short messages were sent to those who had emailed about the lack of a Blog edition. A few coin orders also appeared and were responded to.

Afternoon brought time in the backyard preparing the disturbed grounds for seeding. The six yard top soil pile was repositioned and raked. Gone is the ugly old brush burning spot, instead a lovely lawn will be growing in that area shortly. As usual, I under estimated the amount of time required to complete the backyard preparations. By 5:00 PM, a portion of the land remained unraked and my back was telling me to call it a day. Fertilizing and seeding will take place today though the forecast is devoid of rain for the next week. Following is a snapshot of the backyard in its prepared state. Substantial progress has been realized during August. Clicking on the below image will provide access to a high resolution version.

Homestead Backyard Ready for Seeding

 

Welcoming the Pikes Peak Collection Consignment

Regardless of a busy Sunday, I still managed to work on the Pikes Peak Collection consignment. Following is the Part 1 gallery presentation that includes consigned offerings from Half cents through Draped Bust halves. This is an electic mix of offerings that should garner broad attention from the GFRC community or those shopping on Collectors Corner. We open with two choice 1806 Draped Bust halves and close with a three piece run of CAC approved mintmarked Barber quarters.

Part 2 will include a long run of Capped Bust halves from 1809 through 1838. The final segment will present Liberty Seated halves along with an 1878-S Trade dollar and four Cleveland commemorative halves, all graded PCGS MS66 CAC.

First Right of Refusals are always welcomed. Pricing recommendations and client approval are the last milestones before Part 1 descriptions are written and the lots loaded to the price list.

Welcoming the Pikes Peak Collection Consignment

Part 1 Client Gallery

1806 O-109 PCGS EF45 50C                                                   1806 PCGS VF25 CAC 50C

    

   1832 PCGS AU55 1/2C                                1835 PCGS AU50 1/2C                            1893 PCGS UNC Detail 1C

            

 1899 NGC MS64RB 1C                             1904 PCGS MS66RB 1C                             1905 PCGS MS64RD 1C

            

 1914 PCGS MS64 10C                        1942-D NGC MS67 CAC Fatty 10C                      1916 PCGS MS65FB 10C

            

1835 B-4 DS4 PCGS F15 25C                          1853 A&R PCGS EF45 25C                      1907-O PCGS AU50 CAC 25C

            

1900-S PCGS AU50 CAC 25C                        1909-D PCGS AU53 CAC 25C

      

 

GFRC August 2020 Sales Stand at 297 Coins

Today brings the last day of August and the closure of another month of sales. The current sold coins tally stands at 297. Past history would suggest that the 300 piece goal will be achieved today, but who knows. Everyone can rest assured that there will be no deep discounting or other heroics to meet this defacto goal. If the goal is attained, it will be difficult to repeat. If not attained, life goes on with Sleepy September arriving tomorrow.

 

GFRC Purchases Wonderful CAC U.S. Gold Lot

Sunday was indeed a busy day. Late afternoon brought an opportunity to purchase a wonderful five piece CAC approved U.S. gold lot. The GFRC client made my purchase decision simple but carefully reseaching the CDN CAC price guides and other references to arrive at his offer prices. He also sent cellphone images of each piece. The client understood that I need a 15% margin on outright CAC gold purchases and offered accordingly. Armed with his carefully prepared information, a purchase lot decision was made within ten minutes of initiating the review. This lot ships on Tuesday. In tomorrow's Blog, I will announce the contents.

 

Global Financial News

U.S. equity markets continue to be in rally mode as we close out August. Market futures, courtesy of Seeking Alpha, are pointing to more gains after the Dow Jones average has turned positve for 2020. The Covid-19 induced panic selling seen in February timeframe feels like ancient history.

In Asia, Japan +1.1%. Hong Kong -1%. China -0.2%. India -2.1%.

In Europe, at midday, London -0.6%. Paris +0.5%. Frankfurt +0.3%.

Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.4%. 

This Seeking Alpha headlines captures the positive market sentiment.

A new bull market. U.S. equity futures are starting the week up 0.3% after the DJIA turned positive for 2020 and Wall Street posted its fifth consecutive week of gains. Q2 earnings are expected today from Zoom Video Communications and Rackspace Technology, though the economic calendar is light. Later in the week, investors will get reports on construction spending, manufacturing, the trade gap and the Fed's "Beige Book" before the highly-awaited U.S. jobs report for August on Friday. This month’s stock market gains have pushed the S&P 500 to record levels, officially confirming a new bull market.

Spot gold pricing continues to make gains with the morning quote standing at $1973/oz. Crude oil is priced at $43.53/bbl and was undisturbed by Hurricane Laura. The 10 Year U.S. Treasury bond yield is up slightly to 0.74%.

It appears that my call on an $1850 - $1950 trading range for gold is a risk with today's opening price. I did not foresee the Fed taking a new position on higher inflation targeting.

 

Wrapping Up The Blog

Today brings a regular day in the GFRC office. Pete Theberge will arrive in a few minutes to continue working in the master bedroom bathroom while I spent the morning in the shipping department.

Yes, I must write descriptions and load those recently purchased Trade dollars to the price list today.

Will GFRC sell three coins today? Please check back tomorrow morning at the Blog to learn of the outcome.

Thank-you for making the Blog a regular part of your day.

 

 

 

 

August 30, 2020

GFRC August Sales Stand at 292 Coins

and

GFRC Purchases Fresh Trade Dollar Deal!

 

My apology for the delayed posting of the Daily Blog. The Hostway ISP was having difficulties at 8:30 AM ET followed by the Fortin home losing electrical power. Hostway is back but the homestead is operating on a gas generator.

 

Greetings and welcome to the Blog on a Sunday morning. Thanks for checking in.

A southern Maine day starts with clear blue skies and a brisk temperature of 59F. Yesterday brought a much needed full day of continuous rains. Now, the 10 day weather forecast is indicating no rain and seasonal temperatures with a lovely Labor Day weekend in store for next weekend. I must find time from the GFRC business to work outdoors and complete the perimeter landscaping project and seeding the backyard area in front of the restored stone wall.

 

GFRC August Sales Stand at 292 Coins!

With two days remaining in August, the month-to-date sold coin total stands at 292 pieces. This is a substantial percentage increase over the prior record total of 255 coins set back in March. At an average sales rate, it appears that GFRC will sell roughly 2650 coins during 2020 as compared to 2200 during 2019. The cancellation of coin shows and the migration of collectors to online shopping is clearly illustrated with these results. Fueling the higher sales rate is an ongoing supply of consignments and an emerging number of outright purchases.

Will we attain 300 sold coins by midnight August 31? It would be a nice achievement but not the end of the world if falling short. I've have several inquiries and discounted offers to "help" achieve the 300 sold coin milestone. Unfortunately, I've passed on the offers as replacing the targeted coins is so difficult that I would rather hold on to them and secure fair value.

As usual, there are those on Collectors Corner who send in offers of 15% back of asking prices on CAC approved U.S. gold. I'm carefully wording my responses towards letting these indiviudals know that market conditions have me holding firm on all CAC approved U.S. gold prices.

 

Working on the Pikes Peak Collection Consignment

Yesterday brought a branding name for the 53 piece consignment from a customer turned consignor. Moving forward, this consignor will be known as the Pikes Peak Collection and no surprise given his home location.

Progress was made with image processing last evening and very early this morning. I hope to have a Pikes Peak - Part 1 client gallery ready by this evening. Here is a screen capture of the progress. This evening's gallery will feature coins from 1/2 Cents through Draped Bust halves.

Pikes Peak Collection - Image Processing Status

 

Please Protect Your TPG Holders

More and more consignors are using the recommended UltraPro Vintage Card sleeves to protect their TPG holders from rub and holder haze. The following commentary is located at the Daily Blog's Greatest Hits drop down links under "The Business". I can't stress this point enough and was reminded of what happens when TPG holders are not protected when processing a reverse image for a beautiful 1905 PCGS MS64RD Indian Cent. This is roughly a $175 coin and does not warrant about 15-20 minutes of my time to edit and remove the reverse holder scratches.

I would like to divert a bit and discuss plastic sleeves for your TPG holdered coins as too many consignments are arriving with worn holders that are difficult to photograph. Some holders are all scratched up or worn. This makes selling the consigned coin that much more difficult along with excessive time in the photography department editing TPG holder spots and scratches on GFRC images.

Please consider using baseball card sized plastic sleeves to protect your PCGS and NGC holders. Yes, I was originally in the school that believed these plastic sleeves to be too troublesome; removing and reinserting into the sleeve every time a coin is viewed. Now, I am a convert and place all coins valued over $200 into a sleeve before storage in GFRC inventory boxes. Online customers are seeing this transition as purchases arrive in a plastic sleeve. Ditto at coins shows.

The issue is simply. Many slabs are stored in double row slab boxes and constantly rub together resulting in plastic wear (haze) on top of the coin. There is nothing worse than looking through a hazed holder that has been CAC approved. We are unable to enjoy the coin's beauty due to looking through fog. Sure, there is the avenue of having a coin reholdered. That cost is $12 plus office handling fee and shipping. What if the coin is CAC approved? Add more costs for a trip to CAC.

For $10 shipped, you can purchase 150 UltraPro Vintage Card Sleeves (Amazon link). This is incredibly inexpensive method for not only protecting your coins but also the TPG holder.

 

Substantial Liberty Seated Quarter Consignment May Be Forthcoming

The overnight hours brought a consignment inquiry from one of the first individuals to support the GFRC back in the 2014-2015 timeframe. This collector works even harder than I do at his profession and has been fully consumed expanding a rapidly growing business. He finally stopped for a moment to consider selling a smaller portion of a substantial Liberty Seated coinage collection. The inquiry concerns his Liberty Seated quarter holdings which are nearly all CAC approved and have been off the market for years.

Stay tuned for more developments as I work out the consignment details.

 

GFRC Purchases Fresh Trade Dollar Deal!

As mentioned earlier in today's Blog edition, GFRC is beoming more aggressive with outright purchases of offered lots. Purchased lots tend to be smaller high quality offerings where I am confident that the community will quickly absorb the coins. These deals are typically priced strong to me as collectors are well aware of the value of their duplicates. I am not one to attempt to low ball prices on quality coins. I will pay fair and fast money for coins that are a strong match for existing GFRC product lines. My goal is to enable more of these types of deals by working on small margins while providing collectors with a reliable exit strategy for top quality coins. Every sale adds more listings into the GFRC Sales Archive, a long term strategic goal. The Sales Archive continues to expand and is becoming an important pricing guide for community members.

Case in point is this nice four piece Trade dollar deal that was purchased on Saturday. I took the liberty of photographing the coins on Friday prior to closing the deal.

The 1874 Philadephia strike is a near-gem at the assigned AU58 grade but so difficult to photograph in an NGC holder. If not immediately sold, it will head to CAC as part of the next submission. This piece has lightly mirrored fields and superior bright light eye appeal. Any strictly original 1876-CC Trade dollar is always in demand. This NGC EF45 example is crusty original and will fit nicely on the Trade dollar price list. The two 1878-S pieces are common dates but with choice surfaces.

Look for these to reach the price list by end of day.

GFRC Purchases Fresh Trade Dollar Deal!

          1874 NGC AU58 T$1                                                               1876-CC I/II NGC EF45 T$1       

    

        1878-S NGC AU58 T$1                                                         1878-S NGC EF45 CAC T$1        

    

 

Wrapping Up The Blog

Since there is no shipping on a Sunday morning, I am heading to the Windham Home Depot for some lawn seed and other landscaping supplies. The balance of the morning and early afternoon will find me working outdoors. By 3:00 PM, I will be back in the GFRC office responding to orders and processing the Pikes Peak Collection images for a Part 1 gallery.

Please consider a purchase towards helping achieve the August 300 sold coin goal. We are just eight coins away from the 300 piece milestone. My apology, but I will not be entertaining deeply discounted offers.

Thanks for checking in at the Blog on a Sunday. Let's all be Covid-19 safe and continually be aware of our surroundings and potential risks.

See you on Monday morning.

 

 

 

August 29, 2020

Wicked Good GFRC New Purchases!

Nearly as Good as a Maine Lobster....

and

Approaching Record 300 Coin Sales Milestone in August

 

Greetings on an overcast southern Maine morning.

Thank-you for visiting the Blog on an ongoing basis. You are one of over five hundred individuals who check in for the latest numismatic ramblings.

Saturday brings a special event; an old fashion day long steady rain without high winds. After a dry summer, today's rain is a welcomed sight. I'm keenly watching rain events due to the Ledge Hill Park's access road being bare ground that slopes downhill. The last thing I need are heavy downpours that will cause erosion. Dave Wilkinson brought another six yards of 3/4" stone earlier this week. Part of that load is destined for the Park's access road, specifically to cover the bare ground and mitigate chances for erosion. I was planning to haul the stone today but Mother Nature is one day ahead of me.

 

Southern Texas Collection Purchases 1873-CC PCGS VF20 Quarter!

I'm pleased to announce that a GFRC client has taken a huge step in a collecting career. Late yesterday, I had just settled in on the back deck after a long day in the GFRC office. The coastal view was beautiful. The cellphone rings with a call from the Southern Texas Collection consignor. After careful consideration, and checking on his Trading Desk credit balance, this individual decided to purchase the Palos Verdes 1873-CC PCGS VF20 quarter. I can empathize with this individual. Purchasing a rare Carson City date for five figures is a substantial step in a collecting career. Eventually, every Liberty Seated collector faces this challenge. Do they walk away from a date and mintmark set collection with several missing key dates, or do they take the plunge and spend the monies? The Southern Texas Collection has indeed taken the plunge and acquired a most rare date.

Congratulations are in order!

 

Wicked Good GFRC New Purchases!

It takes time to develop a robut supply chain as a coin dealer. Broadening a customer and consignor base is paramount for gaining access to a steady supply of coins.

In the past two weeks, GFRC has made some wonderful purchases that are being showcased today. I'm proud of these fresh offerings and believe many will receive FRoRs by end of day.

We open with a rare 1866 circulation strike dime from a mintage of 8,000. This is an accurately graded and original example that will be a prized acquisition for those assembling a Liberty Seated dime date and mintmark set. The 1830 LM-7 Capped Bust half dime is a sweet little silver piece with reddish-gold patina and a 99% complete strike. Next is a CAC approved rarity in circulated grades; an 1865 NGC AU55 half dime with steely rose-gray fields. CAC population is eighteen total with only three in circulated grades (VF35, EF45, and AU55). GFRC has already handled the EF45 and now offers the AU55. Those building an AU58 CAC collection have no choice but to purchase this example as no AU58 approved examples exist.

If the first three offerings were not significant enough, how about a rare 1869 quarter graded PCGS VF35 with CAC approval? Total CAC population is a meager fourteen pieces! Next is a gorgeous 1827 O-146 Capped Bust half with huge eye appeal. The GFRC images just scratch the surface in terms of superb bright light eye appeal. The balance are also strong offerings for the grade.

Look for this lot to reach the price list by end of day. Already, there are FRoRs on the 1869 quarter and 1827 half.

 

Wicked Good GFRC New Purchases!

First Rights of Refusals Welcomed

1866 F-102b PCGS AU50 10C

1830 LM-7 NGC MS64 CAC H10C                                                1865 NGC AU55 CAC H10C    

    

1869 PCGS VF35 CAC 25C                                                   1827 O-146 PCGS AU53 50C

    

 1831 PCGS AU53 10C                      1818/7 Sm 8 PCGS EF40 CAC 50C                      1899 PCGS AU55 50C

            

 

Approaching Record 300 Coin Sales Milestone in August

Honestly, I entered the month of August not contemplating that a 300 coins sales milestone might be possible. August kicked off with the close of the Saw Mill Run Collection E-Bid Auction followed by offering a strong selection of Oregon Beaver duplicates. Those two events brought substantial attention to the Blog and sales momentum. Consignments continued to stream in during the month. I've been working long hours to ensure a steady flow of new offerings to the price list while still guiding the construction of the Ledge Hill Walking Park. The month has been a blur but so rewarding on what is possible when commitments are made and strived for.

As of this morning, the August month-to-date sales tally stands at 288 coins. GFRC must sell twelve coins in a little under three days. Weekend sales will be telling as Monday sales are usually quiet. Achieving the 300 sold coin milestone would be icing on the cake for a fantastic August, without attending the traditional Summer ANA World's Fair of Money show. If GFRC does not achieve the milestone, that is ok. The journey is most important as a forged path can be re-used to attain even higher achievements.

 

A 53 Piece Consignment Approaching Prime Time

In between all that have been taking place in August, I've been preparing a 53 piece consignment from a customer turned consignor. This lot contains a bit of everything; Half cents, Indian cents, CAC Approved Barber quarters, a long run of Capped Bust halves, Seated halves and a four piece hoard of the Cleveland early commemorative. All four heavily frosted pieces are graded PCGS MS66 with CAC approval. How cool is that?

Last evening brought a COIN report submission to the consignor. Today starts image processing.

 

Please Help Maintain the Consignment Flow into October!

Following is a brief report of the current GFRC consignment backlog that will keep me busy for about three weeks. The time has come to once again solicit incremental consignments to maintain the price list flow through the end of September and into October.

- 20 piece Liberty Seated half dollar consignment from the Sooner Collection. These are duplicates dated from 1839 through 1850.

- 20 piece contemporary counterfeit offering from the Coney Collection

- The Osprey Collection is back with a 25 piece electic mix of early copper through U.S. gold

- A 20 piece Barber quarter offering from the RCA Collection. All pieces are mintmark and are consistently graded PCGS AU50 through AU58.

- A 13 piece offering of Liberty Seated dime, quarters, and halves from an unnamed consignor.

 

Wrapping Up The Blog

Today brings a reprieve from the general contractor and an electrian running around the homestead. Diane's top floor remodeling project is making some headway with the master bedroom bathroom being prepared for a tiled shower plus new vanity, sinks, and toilet. The huge portion of the project is yet to come. I will be living in the GFRC office and sleeping on a La-Z-Boy in the basement sound room for a day oe more. Diane will be replacing the carpeting in three bedrooms, hallway, and stars with new wood flooring. Let's not think too much about what is to come....

Yes, I will be in the GFRC office the entire day due to the rains. Please consider a purchase to help achieve the 300 sold coin milestone. If contemplating a consignment, I'm here to advise and help with the transport.

Again, thanks for checking in that the Blog. Be safe and well as we approach Labor Day weekend.

 

 

 

August 28, 2020

Blog Readership Feedback - GFRC Future Coin Show Attendance

and

Liberty Seated Dime Consignment Preview

 

Greetings on a cool and cloudless Friday morning in southern Maine. Thanks for checking in at the Blog.

There is no question that the early autumn season has arrived. Overnight temperatures are down to the mid 50s with daytime highs in the low 70s. Summer humidity has been replaced with an overt crispness in the air. It may be difficult to put into words what life-long Mainers can feel during the late August seasonal transition.

In Thursday's Blog, I touched about the future of national coin shows and GFRC's potential attendance strategy moving forward. As a coincidence, I received an email from Whitman's Lori Kraft during the afternoon hours. I have the utmost respect for Lori as she is one of the best show managers in the numismatic business. Whitman is so fortunate to have Lori heading their "Baltimore" shows.

The email topic was GFRC's potential attendance for an alternate Winter Baltimore show that is targeted for the Southeast U.S. GFRC and David Perkins take a significant table footprint at the Spring and Winter Baltimore shows along with my double corner at Summer Baltimore. After a phone call with David and personal reflections, I sadly had to inform Lori that GFRC will not be attending an alternate Whitman show. Air travel is not on my agenda, or that of David, until Covid-19 risks are mitigated. I'm sure that GFRC will not be the only dealer that will respond in this manner. Many dealers are in the high risk group and the best personal health measures dictate working online and out of a home office.

As a reminder, GFRC has committed to attend the Manchestr NH coin show in early October. That show is only two hours from Raymond and could be a commute if necessary. Ernie Botte has been a constant force fostering the numismatic show landscape in northern New England and warrants my support.

It breaks my heart to give a negative show attendance response to show managers like Lori Kraft. They play a huge role within our industry and deserve our help.

 

Blog Readership Feedback - GFRC Future Coin Show Attendance

In yesterday's Blog, I asked myself and the GFRC community two questions concerning GFRC's evolving business model and whether maintaining a regular coin show schedule was warranted. Those questions were.

- Is the GFRC business model migrating to an exclusive online platform?

- Is it more efficient for GFRC to remain working in its home office rather than spending a full week plus traveling time for attending a major coin show?

These questions brought a host of responses that crystalized the fact that collectors and dealers have a different perspective of the coin show experience. Collectors love to attend coin shows as a pleasurable hobby event and an opportunity for camaraderie with fellow collectors. Dealers see a coin show as part of their regular business activities along with travel and inventory security challenges.

Following are several of the emailed responses. We open with commentary from the Tenafly consignor. I can always count on Tom to voice his perspective.

Good morning Gerry,


     These Covid times have brought many alterations to every commercial enterprise; most already changing or changed.  Of course nothing beats established coin shows for the "personal touch" and interactions. I believe that, like nearly all businesses, numismatics will have little choice but the online transition. My hopes are that a handful of major coin shows (not so many) are scheduled every year since nothing can replace the camaraderie at the shows. "Know your source" and researching coins, grading, etc. is imperative for collectors more than ever.  Plus there's more time for those projects that never seem to get done, time with family, pets, etc. 
     My business (20 years) has been gradually evolving from "boots on the ground" to online sources driving us along with it (sometimes kicking and screaming). Like coins, it's always better to view the house!  

 

The Upstate New York Collection quickly responded and encouraged me to stay active at national shows in terms of locating fresh inventories.

Good Morning Gerry.

As far as your question of attending future coin shows, I would have to say yes. You've done a great business w/o shows, but probably 60 percent of coins that are being sent in for consignment are probably ones that you have already sold.. (I'm guessing at the percentage). I would definitely  like to see new coins from different shows. Shows bring to your table fresh coins that haven't been sold by you. I would love seeing newer coins(with toning) of colors or just natural toning as you like them. Just my 2 cent worth.  

 

An Arizona based client and fellow semiconductor industry colleague succintly captured the alternate perspectives of collectors and dealers with regards to coin show attenance. (Interesting how two responses used the two cent metaphor).

Hi Gerry,

I will put in my two cents regarding the future of coin shows.  I think there are two perspectives on this, one from the dealer and another from a collector. 

From a collector's point of view there are very few things to do in life with your pants on that are more fun than attending a couple of major coin shows each year!  You hit the road and get out of your environment, you scour the bourse floor for treasures, you stop and talk and LEARN from conversations with dealers with decades of diverse experience in numerous different fields, you meet up with your collecting buddies after the show and head out to a nice dinner for great conversation and a few adult beverages.  Collectors want coin shows!

Although I am not a dealer, I imagine the repetitious travel, the high amount of days away from home, the concern about security, the long hours sitting behind a table, the unknown of if your sales will cover your expenses and make the trip worthwhile, etc. make a dealer's viewpoint very different from a collector.  Some of the dealers I have dealt with in the past had told me before the pandemic that they were cutting the number of shows they attend from 10 to 6 or from 8 to 4, etc.

My belief is that the collector wants shows to attend but a dealer is going to be more selective in the number of shows they set up at.

 

The Somerville Collection consignor took a more analytic approach to the posed questions.

Hi Gerry,

Clearly your internet based model has proved to be sustainable and without a need to acquire  new inventory via the traditional coin show route.

The question is, “ what value add does Gerry see in coin attendance at large shows?”

I can see pre-show dealer based wholesale transactions and new and existing client development/relationship management as key areas to consider.

In the end, this will be a Gerry judgement that considers 1- show cost economics and 2- time investment versus  the potential long term benefits of coin show participation and interaction with clients. 

These client interactions will hopefully lead to cultivating new sales, either at a currently attended show or possibly down the road.

Best of luck, you have navigated GFRC’s course quite well. I’m sure you will make the appropriate call on GFRC coin show attendance going forward.

 

The Running Boar consignor shared his collector perspective and the importance of real time experiences on a bourse floor.

Hey Gerry,

Some thoughts from me on the impact of covid on numismatics. I've had mostly positive experiences acquiring coins via online shopping. I've used Heritage, eBay and various dealer websites. However as I've completed my journey of redefining my collection, I find several things seem lost in translation. The biggest is that there is just no way to duplicate holding a potential acquisition in hand to judge its aesthetics and no substitute like the real time experience of the bourse floor. It exudes an ambience one must feel to appreciate.

Second is the human interaction. This provides opportunities to exercise and grow one's people skills. The negotiation process gives real time feedback on how well the buyer and seller communicate through the transaction. Developing relationships is an overlooked critical component that reveals its value when the time comes to bequeath your cherished coins to the next generation of caregivers.

As I pursue my final area of numismatic interest, I am trying to concentrate on the method I hope will yield the most fulfilling results. Its being done this way to remind me what this hobby is all about - the thrill of the hunt. In today's world, collecting has become too "convenient" like going to the grocery store. I've been there, done that and worn out the tee shirt. After a 30 year journey, I'm looking for a sense of personal satisfaction as I seek my final few acquisitions. I can only hope the experience lives up to the expectation.

 

Yes indeed, the decision for attending future coin shows will be challenging. There are many variables to consider including my own health and having time to build the Ledge Hill Walking Park as I see fit. As I approach the milestone age of 65, one has to step back for a moment and check in on priorities for the balance of one's lifespan.

I'm sure you will read about any GFRC course corrections in the Blog. Thanks to everyone who took time to write a response. Some individuals provided personal advice and asked that I not publish.

 

Liberty Seated Dime Consignment Preview

It has been awhile since a Liberty Seated dime gallery was featured in the Blog. As usual, I will always give priority to consignor submissions over that of my own. Yesterday brought yet another consignment that was mostly Liberty Seated dimes. What a great excuse to combine a few of the Gerry Fortin Collection Seated dimes with those of the new consignor.

Following are two dimes from my collection as a preview. Many more exciting die varieties and offerings are forthcoming during the weekend.

Fortin Liberty Seated Dime Consignment Preview

  1838 F-102 PCGS AU53 CAC 10C                                                   1841 F-103 PCGS AU50 CAC 10C

    

 

Global Financial News

Global equity markets are mixed as another trading week comes to a close. The rally mode for U.S. equity markets appears to be intact with positive futures. Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan -1.4%. Hong Kong +0.6%. China +1.6%. India +0.9%.

In Europe, at midday, London -0.2%. Paris -0.4%. Frankfurt -0.7%.

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

The key economic strategy announcement from Jackson Hole is the U.S. Federal Reserve's plan to sustain low interest rates regardless of a potential increase in inflation. This Seeking Alpha is an adequate summary.

Interest rates to stay low. The fun in Jackson Hole wraps up today as the two-day virtual symposium concludes with the last livestreams from central bankers and other influential officials. Nothing is likely to compare to yesterday's speech from Fed Chair Jerome Powell, which will have a transformative effect on U.S. monetary policy for the foreseeable future. The central bank said it will keep interest rates low to help prop up the pandemic ravaged economy even if inflation rises above its target level of 2% for periods of time. Prices of stocks, bonds and gold all made several U-turns on the news, while equities attempted another green session overnight. Dow and S&P 500 futures are up 0.5% and 0.4%, respectively, while Nasdaq futures are hugging the flatline.

Spot gold prices immediately increased as a result of the Fed announcement. Low interest rates and inflation tolerance are bullish for gold pricing. The yellow metal finished the day at $1957/oz. So much for my predicted trading range between $1850 - $1950. We may not see gold below $1900/oz as a result of the Fed strategy.

 

Wrapping Up The Blog

Yesterday's GFRC sales continued with the August month to date volume standing at 280 coins. The challenge is to sell 20 coins in four day to reach a ground breaking total of 300 coins in a single month. To achieve this milestone, I will be in a dealing mood.

This has been a long Blog and best to move along with the balance of another GFRC office day. I am working on a 53 piece consignment, from a first time consignor, that is taking a substantial amount of time to prepare. To maintain your interest, I will be "sneaking in" a few offerings to the price list and during the weekend Blog editions.

Thanks again and wishing everyone a safe and healthy Friday.

 

 

 

August 27, 2020

Rebuilding GFRC 30 Day Price List after Record August Volumes

and

Tenafly Collection Releases Liberty Seated Quarter Duplicates

 

Greetings once again and welcome to the continuum known as the Daily Blog.

Tthe word "continuum" was chosen for this morning opening greeting due to its definition; a continuous sequence in which adjacent elements are not perceptibly different from each other, although the extremes are quite distinct. The month of August has been a blur with each day replete with must-do items. How I could manage preparing for and attending national coin shows is a mystery after the sales volume of the past several months.

 

Record GFRC August 2020 Sales Volume

Thanks to substantial support from the GFRC community, August 2020 sales have far surpassed those of prior years. The Summer of 2020 Consignment Wave has become a reality. Number of sold coins currently stands at 272 pieces which is an all time monthly record. There are still five days remaining in August and many more coins to post to the price list prior to the first day of September. Can GFRC reach the 300 sold coins per month threshold? Let's give it a try with today's Tenafly Collection release of quality Liberty Seated duplicates!

August 2020 sale results have been attained without attending the traditional Summer ANA World's Fair of Money event. This fact begins to beg several intriguing questions. Is the GFRC business model migrating to an exclusive online platform? Is it more efficient for GFRC to remain working in its home office rather than spending a full week plus traveling time for attending a major coin show?

Of course these are just questions but they must be asked as a entrepreneur based on August sales results. The numismatic business is predicated on relationships with a wide range of clients throughout the United States. Attending major coin shows is paramount for sustaining those relationships and forging new ones. However, Covid-19 has brought changes to a host of businesses. Succinctly stated, brick and mortar retailing is dying in lieu of online shopping. Will we ever again see large 300-500 table national coin shows?

Will this accelerating online shopping transition also apply to the numismatic industry? I would love to hear your thoughts and feedback to be published in an upcoming Blog. Don't be bashful to send along your thoughts. As a business owner, I must carefully weigh 2020 results and determine if the GFRC business model needs to be modified. I would much rather operate GFRC from the home office rather than spending days on the road and in hotel rooms.

 

Rebuilding GFRC 30 Day Price List after Record August Volumes

Every entrepreneur has metrics by which to manage their business. "Dashboard" is a common term used to describe the display of critical operating parameters whereby one can judge the health of a business in minutes.

One of my "dashboard" metrics is the number of coins on the 30 Day Price List. The higher the number is better as an indication that new offerings are rapidly being loaded to the overall website to replace sold coins. Up until today, my comfort threshold has been 100 coins. Any time that the 30 Day Price List dips below 100 coins indicates that I am not reloading coins quickly enough to sustain current sales volume. As of this morning, that number is back to 110 coins and needs to continue increasing towards 150.

I'm pleased to report that there is adequate consignment backlog and a few new purchases to continue the current sales rate and inventory recovery through the first half of September. By the third week of September, there will be a huge bandwidth available for insourcing another consignment wave.

Let's keep the Summer 2020 Consignment Wave continuing into the Fall of 2020! I'm here to work with any collector who wishes to divest duplicates or an entire collections.

 

Tenafly Collection Releases Liberty Seated Quarter Duplicates

Wednesday brought a quick pivot into the consignment backlog. The Tenafly Collection is back with a noteworthy release of high quality duplicate Liberty Seated quarters. Essential all the duplicates are CAC approved. Most of the release had been purchased from GFRC during the past four years. How grateful I am to have the opportunity to once again handle these quality coins.

Today's Tenafly Collection client gallery opens with an important 1873 No Arrows Closed 3 quarter. This Redbook variety is rare, especially with choice surfaces and natural eye appeal. The Tenafly offering would be a substantial acquisition for those constructing a Redbook date and mintmark set. Other highlights include lovely 1850-O and 1851 better date offerings. Also look deep into the gallery at the 1876 PCGS AU55 CAC quarter. This piece will garner a gem quality rating for its exceptional eye appeal.

A Fresh Release of Tenafly Collection Seated Quarter Duplicates!

1873 No Arrows Closed 3 NGC F15 25C

1850-O PCGS EF45 CAC 25C                                                   1851 PCGS VF25 CAC 25C

    

1841-O  PCGS VF25 CAC 25C                      1842 PCGS VG08 CAC 25C                          1853/4 PCGS F15 CAC 25C  

           

1854-O Crumbled NGC F15 CAC 25C               1856 MPD NGC VF35 CAC 25C                      1857-S PCGS VG08 CAC 25C    

            

    1858-O  PCGS EF40 CAC 25C                      1876 PCGS AU55 CAC 25C                    1877-S S/Horiz S PCGS EF40 25C   

            

 

Global Financial News

The day starts with morning market futures, courtesy of Seeking Alpha, in a wait-and-see mood. The famous Jackson Hole economic conference is underway with Fed Chair Jerome Powell due to give a critical speech this morning. The topic is the Federal Reserve's inflation strategy moving forward. I've made mention of this fact in recent blogposts. The Federal Reserve must juice inflation higher to monetize the growing national debt. How the Fed will bring this about is sure to cause speculation.

Following are market futures which are mostly down.

In Asia, Japan -0.4%. Hong Kong -0.8%. China +0.6%. India +0.1%.

In Europe, at midday, London -0.2%. Paris -0.5%. Frankfurt -0.4%.

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

Spot gold continues to stay in a tight trading range. The day opens with gold at $1951/oz. Crude oil prices are not reacting to the potential long term impacts to the Gulf of Mexico oil industry infrastucture from Hurricane Laura. Oil is again quoting at $43.26/bbl. The 10 Year U.S. Treasury bond yield is essentially flat at 0.68%.

Here is the Seeking Alpha headline concerning the Jackson Hole economic symposium.

The Fed's annual economic policy symposium, known as Jackson Hole, goes online this year for the first time since it began in 1978. The main event will be Chair Jerome Powell's keynote at 9:10 a.m. ET, which will reveal conclusions of the central bank's review of its monetary policy framework. The Fed may be close to cementing a big shift in its philosophy, being more lenient when it comes to inflation and allowing it to rise past the 2% target (for periods of time) to keep the economy humming. While that's in contrast to its strategy for many years - which is to pre-emptively raise interest rates to fight inflation - the Fed has persistently undershot its inflation target since it was formally established in 2012.

 

Wrapping Up The Blog

So ends another Blog edition as just another moment in a continuumn.

Thanks for stopping by at the Blog and checking in on my regular ramblings and thoughts as an entrepreneur. Being an entrepreneur can feel like operating one long multi-year experiment. Continuous improvements bcome a way of life.

Today's focus shifts to a 53 piece consignment from yet another client turned consignor. It will take time to process all the images for this consignment. Therefore, I may roll out this lot in several modules to sustain price list and Daily Blog showcasing.

Be well and safe. I look forward to seeing you tomorrow at the Blog!

 

 

 

August 26, 2020

Eye Appealing Consignment from NYC Area

 

Greetings and welcome to the Blog on a Wednesday morning.

Southern Maine weather has taken a turn into the autumn season. I could not be more pleased as the day starts with a 59F temperature and strong breeze flowing through the office window. Humidity is a low 65% with a forecasted day time high of 71F. Bright sun will dominae the skies and that means only one thing; lots of GFRC photography!

Tuesday was a multi-tasking day leaving me wiped out by 9:00 PM. The master bedroom bathroom is not more, just a walled shell. The annual oil burner cleaning took place while upstairs demolition was happening. Yours truly was still in the office shipping lots and responding to emails. I managed to photograph and conduct quick turn processing of a quality consignment from the NYC area and worked with the new consignor on pricing expectations during the evening hours. By 9:00 PM, my mind was toast. The Palos Verdes Collection 1873-CC quarter remained to be posted to the price list. It deserved better than a half hearted description and will be added today.

Tuesday afternoon brought more thunderstorms and period of rain. After two days of decent precipitation, the disturbed back lot earth is already starting to recover some green shades. Conversely, subtle maroon hues are starting to appear across the coastal horizon as autumn is in the air. It will be a fantastic autumn season this year given the restored horizon and the ability to continue building the Ledge Hill Walking Park. Already, Dave Wilkinson has brought an other six yards of 3/4" crushed stone to complete the homestead perimeter landscaping and the initial stone path into the Park.

This is little prepared for today's Blog other than a client gallery. I will try to do better for tomorrow's edition.

 

Another Client Becomes a Consignor

More and more GFRC customers are heeding my advice and becoming consignors with respect to accumulated duplicates. The rate at which this transformation is taking place continues to increase. GFRC presently has 195 consignors. Sure, some individuals have come and gone but the majority are still active.

Becoming a consignor is a numismatic educational opportunity. No other company in the numismatic business provides the personal education that one can secure by working with GFRC. Just last evening, I spent an hour with a consignor helping him understand the market and competitive pricng for his coins. His initial pricing expectation were high and aspirational given the strong eye appeal and above average quality of his first consignment. We worked through the pricing for four coins and reach consensus. He acknowledged my perspective as a dealer and I understood his as a collector. I believe we both ended the evening with a sense of accomplishment.

Following are the initial offerings from this new consignor. The 1848 quarter is a gem at the assigned grade. It should be as was originally purchased in an NGC Mint State holder. Rather than conduct a straight cross, the consignor cracked out the coin and found himself with a PCGS AU55 certification. CAC approval was a no brainer due to the conservative grading. The 1874-S Trade dollar is a beautifully toned example regardless of the ANACS gold holder. The balance of the offerings speak for themselves. FRoRs are encouraged as I expect this lot to sell quickly. Already, there are two requests for the gem 1848 quarter.

Eye Appealing Consignment from NYC Area

1848 Briggs 2-B PCGS AU55 CAC 25C                                                   1874-S ANACS MS61 T$1

    

 1831 LM-5 NGC EF45 CAC H10C                     1845 NGC MS63 CAC H10C                     1845-O WB-1 LDS NGC AU53 50C

            

 1875  PCGS AU58 50C

 

GFRC Consignment Program - A Journey of Self Improvement

Though the GFRC consignment backlog is robust in the near term, it will not be long before that backlog is brought to the price list. I'm always pleased and excited to work with new individuals who are taking their initial consignment plunge. Selling duplicates is one of the easiest paths to becoming a more knowledgeable collector. Why?

When selling duplicates, both sides of the bourse table come into focus. GFRC has quickly become a successful numismatic dealer due to my extensive roots as a collector. Learning the dealing side of the table was straightforward given a long career in semiconductor industry business.

For collectors with no sales experience, consigning that initial lot of coins brings access to the dealer side of the table. You become part of the pricing and selling strategy. Sometimes the feedback is not pretty, especially when I ask that thought provoking question, "Why did you buy this coin?". But the feedback is priceless into terms of becoming a more sophisticated collector and buying wisely in the future. Admitting and dealing with mistakes along with self gratification with the "scores" are part of the numismatic feedback process. Only you can decide if you wish to embark on a journey of self improvement. I'm here to help faciliate that journey.

 

Global Financial News

Global market futures are mixed after a multiple day rally. Decreasing Covid-19 infection rates continue to underpin the optimism for economic recovery and equity investments. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan flat. Hong Kong flat. China -1.3%. India +0.6%.

In Europe, at midday, London -0.3%. Paris +0.2%. Frankfurt +0.5%.

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

Crude oil prices are in the spotlight due to Hurricane Laura impacting the Gulf of Mexico oil fields and Texas and Louisiana region oil refineries. Crude prices have increased slightly to $43.24/bbl.

Spot gold continues to trade in its new range with a quote of $1924/oz. The 10 Year U.S. Treasury yield is slowly rising with a quote at 0.71%.

 

Wrapping Up The Blog

Thank-you for being regular Daily Blog readers.

Another busy day in the office awaits me along with seeking shelter from the upstairs bathroom project. I will be making a quick run into Windham to purchase lawn seed and other supplies. This weekend brings the seeding of the front side of the landscape in front of the restored stone wall. September is the second best time of the growing season to for seeding lawns after the April/May timeframe.

Be well and safe.

 

 

 

August 25, 2020

Oops! Fire on the Mountain

and

Key Dates Abound in an Eclectic Palos Verdes Collection Consignment

 

Greetings and welcome back to the Blog.

This Tuesday morning marks the first day after closure of the Ledge Hill Walking Park project for 2020. There is a sense of relief as I can let the planning and ongoing construction management out of my mind. The wrap up work on Monday was not without excitement, thus the "Oops! Fire on the Mountain" headline. More shortly....

Monday also brought an email from a satisfied customer; it was not an ordinary statement of being pleased with a purchase. This business professional has studied the GFRC business model and its delivered services. I don't often publish a customer testimonial in the Blog but will make an exception this morning.

Regarding my business with you, I guess I’m making up for lost time in this wonderful hobby and have been blessed to be able to spend/invest like I have for well over a year. I truly enjoy doing business with you. I love your passion for numismatics, I greatly appreciate you sharing yours and other’s knowledge in the field and I love your business model. You have product that I desire. You focus very well on your customer. You are easy to work with and I enjoy your blog which hits home with me because there are many similarities between our lives.

Regarding your business model,  if you ever have time (I know that’s a joke) you should apply for the (Malcolm) Baldrige Award! That is exactly the model your business reminds me of. In a previous career, the company I worked for achieved that award back in 2001 and your way of doing business mirrors many of these companies that have achieved that status. Keep the passion, vision, customer focus, process improvements, business ethics, great product and the BLOG coming!

Thank you for all you do! You make this part of my life extremely enjoyable!

 

Oops! Fire on the Mountain

As mentioned earlier, Monday was Dave Wilkinson's wrap-up day for the back acreage project. I must return 100% focus to GFRC as consignments are arriving daily and require full attention during the next several weeks.

The walking park wrap-up included building a rock pyramid, near the park entrance, that will become the "Ledge Hill Park" signpost. There were several large piles of tree branches hastily placed in out of way entrance locations to be cleared and burned during late fall. Cut trees in 4' lengths needed to be moved closer to the stone wall for easy access once sawn. There was enough work to keep Dave's excavator busy through noon time.

We decided to move the large branch piles into the new burn area and stack on the ashes of prior burnings. I bet you know where this is going....

Never ever assume that an outdoor ash pile is cold even after ten days and rain! Dave stacked a huge amount of branches on the ash pile and moved the balance as a secondary staging pile. Afterwards, he took the excavator into the adjacent cleared area to move the 4' tree lengths. Before long, Dave noted smoke from the burn pile and rushed the excavator to the burn area. The pile lit before Dave could reach the stacked branches and brush. Let's remember that the ground is bone-dry and I do not have a burning permit due to high forest fire risks.

All is happening while I am in the GFRC office processing coin images. I smelled smoke and immediately knew what has just taken place. Shoes flew on the feet and I rushed down the lot to find a red hot fire in the burn pile. Trusted Dave had the situation under control. He had managed to remove most of the branches and brush away from the fire leaving about 25% to burn. I told Dave to just let it burn red hot to minimize the smoke plum and avoid an untimely visit by the Raymond fire department. Within 15 minutes, the flames subsided. Dave went off to continue moving tree lengths while I brought pail after pail of water to begin closing down the fire from outer perimeter to center. It took about fourteen pails of water, from the front home spigot, to close most of the burning down and gain a sense of relief. I was drenched in sweat as the temperature was in the low 80s with high humidity.

Luckily, late afternoon brought a long span of thunderstorms and downpours. Any residual surface coals, from the accidental burn, were extinguished. I slept well last evening.

 

An Eclectic Palos Verdes Collection Consignment

I am pleased to be showcasing the long promised Palos Verdes Collection client gallery in today's Blog. Eclectic is a fitting description given the varied denominations and important key dates.

The gallery opens with two key dates in rare grades. An 1873-CC Arrows Liberty Seated quarter is one of the three series key date along with 1870-CC and 1871-CC strikes. This Palos Verdes duplicate presents well with light copper-gray patina and original surfaces. Devices are boldly defined at the assigned VF20 grade level. I'm sure that many collectors building a Liberty Seated quarter collection might consider this forthcoming offering. Purchase terms can be always be negotiated as Palos Verdes is a collector like you and me.

If the 1873-CC Arrows quarter was not enough, how about a rare 1878-CC Seated half as an additional marquee offering? Honestly, this is the finest 1878-CC half to be handled by GFRC. This date is rare to begin with and very rare in AU55/AU58 grade levels. This offering is housed in new NGC large font holder with lightly mirrored field and reflective luster. Don't miss this opportunity! First Rights of Refusal are advised.

The balance of the offerings are equally important or just plain sweet. The 1827 JR-11 and 1890-S dimes will not last long on the price list given the strong demand for CAC approved coinage.

Pricing recommendations will be submitted to the consignor today. Once there is approval, look for these offerings to reach the price list later today or early on Wednesday. Again, please use FRoR to gain early access.

 

Key Dates Abound in an Eclectic Palos Verdes Collection Consignment

1873-CC PCGS VF20 25C                                                         1878-CC NGC AU55 50C

    

1855-S Br 1-A NGC AU50 25C                                                        1872-CC NGC VF35 25C       

    

      1864CN  PCGS MS62 1C                                1875 PCGS MS65 5C                           1827 JR-11 PCGS AU55 CAC 10C

            

 1868-S F-101 PCGS AU53 10C                1890-S F-117 PCGS EF45 CAC 10C                    1907-S PCGS MS62 10C       

            

 

Global Financial News

Monday brought yet more equity gains as the United States economy demonstrates a recovery from the Covid-19 closure. Morning market futures, courtesy of Seeking Alpha, indicate more potential gains during today's trading.

In Asia, Japan +1.4%. Hong Kong -0.3%. China -0.4%. India -0.1%.

In Europe, at midday, London +0.2%. Paris +0.8%. Frankfurt +0.7%.

Futures at 6:20, Dow +0.6%. S&P +0.5%. Nasdaq +0.3%.

Regardless of recent Sino-U.S. tensions, trade talks continue. Covid-19 infection rates are slowly declining. This news continues to propel equities higher.

Commitment to trade. S&P 500 futures climbed 0.5% overnight after another record-setting session on Wall Street that saw the benchmark close above 3,400 for the first time. The latest advance follows a discussion between U.S. and Chinese trade negotiators, with both sides seeing progress on a Phase One trade deal and committing to its success in their first formal dialogue since early May. Data compiled by Johns Hopkins University also showed new daily COVID-19 cases dropping to under 37K (they have been below 50K since mid-August), while we'll get earnings today from Salesforce, Best Buy and Intuit.

Spot gold and crude oil prices have settled into trading ranges. The yellow precious metal is quoting at $1933/oz while crude oil is steady at $42.68/bbl. The 10 Year U.S Treasury yield has climbed to 0.69%.

Please pay attention to this Seeking Alpha headline. As I mentioned in a recent Blog, the Federal Reserve must increase its expectations for inflation in order to monetize the increasing national debt.

Changing how the Fed views inflation. Chairman Jerome Powell is set to signal a significant policy shift this week during a "virtual Jackson Hole conference," including perhaps the Fed's biggest steps ever to goose inflation back up to a healthy level. "Average inflation" targeting means the central bank will allow inflation to run higher than the usual 2% healthy target for a period of time (if it's spent a considerable time below that level). The goal could brand Powell's tenure at the Fed as the opposite of Paul Volcker's - whose sharp rate hikes in the '80s built a recession but tamped down price pressures.

China's Huawei has few friends left in the world. Now it in India that will remove Huawei from its telecom infrastructure.

Huawei's latest problem is India. India is phasing out Chinese equipment from its telecoms networks over an escalating border dispute in the Himalayan Galwan Valley. It's not a formal ban and Prime Minister Narendra Modi hasn't made any public announcements - to avoid a tough response from Beijing - but key industry officials have made it clear that local companies should not use suppliers like Huawei or ZTE. "Let's do tough rather than talk tough," the FT report quoted a senior government official as saying. The move comes after many Western companies have banned Huawei from supplying 5G equipment over security and privacy concerns.

 

Wrapping Up The Blog

It is best to wrap up at this point as the 8:00 AM publishing time has arrived.

Dave Wilkinson is due back soon to retrieve his excavator that is parked off my driveway. Pete Theberge has just arrived to begin our master bedroom bathroom demolition.

Thanks for checking in at the Blog. I will be hiding in the office all day as want no part of the upstairs project. That event belongs to Diane to manage.

Purchase orders and consignment inquiries are always appreciated. Look for a faster new offerings posting rate in the coming days.

See you tomorrow at the Blog

 

 

 

 

August 24, 2020

Manchester NH Coin Expo - October 2-3 is ON!

and

The Opposite of Confidence

 

Greetings on a Monday morning and welcome to yet another Blog edition. The final week of August 2020 is upon us.

Today Blog edition will have little coin talk unless I can conjure up a topic to magically appear during the next hour. Plans to have the Palos Verdes client gallery prepared for this edition did not materialize. By 8:00 PM last evening, there was a choice to either process Palos Verdes images or head to the basement sound room. The siren call from the sound room won out since not visiting the entire week. I spent two wonderfully hours exploring the Grand Funk Railroad musical catalog from On Time to the later albums without Terry Knight as producer. Unquestionably,On Time is my favorite Grand Funk recording. It has been since I was a teenager and nothing has changed in 50 years. On Time was the consummate garage band recording that the critics hated.

 

Manchester NH Coin Expo - October 2-3 is ON!

Sunday afternoon brought an important email from Ernie Botte. The Manchester NH Coin Expo will take place on October 2-3. My hat goes off to Ernie for developing a plan with New Hampshire State health officials to enable this show. He has little time to prepare the floor plan once an attending dealer list is available.

The NH Coin Expo website can be viewed by clicking this nhcoinexpo.com link. Ernie Botte faces a host of challenges to make the October show a reality. My sense is that he will lose money on the show as dealer and collector attendance is a complete unknown.

GFRC will do its part by immediately committing to a corner table. Dan White will be joining me from Essex, CT. The last time that Dan and I were together behind a bourse floor table was the ANA Spring show in Atlanta.

 

Seth Godin Blogpost - The Opposite of Confidence

Since having little prepared for today's Blog, I took a casual stroll through Seth Godin's blogposts. This short but powerful blogpost captured my attention and provides an opening for some personal sharing. I invite you to read this short post several times. For those in the GFRC community who have expressed anxiety and loathing due to our modern day media and political environment, please read this post carefully.

None of us can influence the grand political theater of the forthcoming November elections. The cable and online media companies see the elections as a ratings war. One must ask if the cable and online media are in the "news reporting" or "entertainment" business to find clarity. I would gather that they are more positioned as part of the entertainment industry than unbaised news reporting. To believe otherwise might be foolish.

These media companies wish for us to believe that a natural disaster will take place regardless of which party wins the White House. They are in the business of selling fear and lack of confidence in the future to enable more clicks on their programming.

Life will go on after the November elections. It always does. As a citizen with uncertainties about the future, step back for a moment and consider your personal strategies moving forward. Become informed on potential action options if you are unhappy or fearful of election outcomes. But please put the anxiety and panic away. Anxiety and panic are not actionable strategies.

Close to home, I'm monitoring the presidential election betting websites and updated betting odds to gain a sense on which party will dominate the November elections. Look not only at the current odds but also at which candidate has the current momentum. Betting momentum is a signal of shifting opinions and an unbiased measure since people's money is on the line. Based on the betting odds in late September, I plan to evaluate my financial portfolio and make adjustments as a proactive step to lower risk. This is all that I can do while continuing to manage the GFRC business.

Again, anxiety and fear must be suppressed with a proactive logical strategy. Stay away from the entertainment media for improved mental health.

 

The Opposite of Confidence

It’s not anxiety.

And it’s not panic.

The opposite of confident is not confident. Unsure.

Being unsure can be healthy. It can help us focus on how we can make our work more likely to become the contribution we seek.

But anxiety and panic have nothing to do with an informed understanding of how the world is unfolding.

 

Closing Down (for 2020) The Ledge Hill Walking Park Project

Dave Wilkinson arrives at 8:00 AM to wrap up work on the Ledge Hill Walking Park project for 2020. We will clean up some random items including building a rock pyramid as an entrance sign post and constructing a large burn pile of accumulated branches. I'm trying to visualize the park's appearance come Spring 2021 and cleaning up accordingly. The idea of a wildflower area was misplaced as additional research indicates these are very maintenance intensive. Within two years, any wildflowers that did survive would be chocked by the indigenous plants.

Closing down the back acreage project will provide the time and mental relief to focus on GFRC consignments.

 

Global Financial News

A new trading week start with elevated optimism! Global market futures are flashing bold green with an average of 1.0% forecasted gains. Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan +0.3%. Hong Kong +1.7%. China +0.2%. India +1.07%.

In Europe, at midday, London +1.6%. Paris +2.3%. Frankfurt +2.1%.

Futures at 6:20, Dow +0.8%. S&P +0.7%. Nasdaq +0.9%.

Spot gold starts the week at $1956/oz while crude in priced at $42.63/bbl. The 10 Year U.S. Treasury bond yield stands at 0.64%. I would strongly suggest that home mortgages be refinance quickly as I can't see interest rates remaining at these low levels once medical treatments for Covid-19 continue to arrive to the health market. Global economies are coming back to life. They always do after a pandemic.

This Seeking Alpha headline is interesting reading. Carefully consider that economists think that the U.S economy will emerge from recession later this year or early next year. Later this year is the next four months! Early next year is just two quarters away. If those surveyed economist are correct, equity markets should rally through the balanc of 2020. Also consider the potential impact of a continued equity market rally on November elections.

U.S. recession likely to end late 2020 or in 2021, survey says. A majority of economists say Congress should reinstate supplemental unemployment insurance benefits as the U.S. economy isn't likely to emerge from the recession until later this year or at some point next year, according to a survey by the National Association for Business Economics. Most of them also support extending the Paycheck Protection Program for small businesses. Two-thirds of the respondents said the economy is still in the recession that began in February and almost 80% indicated that there is at least a 25% chance of a double-dip recession.

 

Wrapping Up The Blog

My apology goes out to those who visit the Blog for coin stories and GFRC client galleries. I am not in a position to offer these today and instead used the Blog to address other items that capture a portion of my gray matter.

A robust U.S. economic recovery and the re-emergence of coins shows bode well for a solid 2021 numismatic year. GFRC is laying the ground work for continued growth in the months ahead consistent with what my crystal ball is forecasting.

CAC approved coins will continue to be in the top tier of demand and a solid component of a personal financial portfolio.

Thanks for checking in at the Blog. I promised to have the Palo Verdes client gallery posted in Tuesday's Blog.

 

 

 

August 23, 2020

Sunday Morning Focus on Gold

and

Rebuilding the GFRC Price List for Sleepy September

 

Greetings and welcome to a Sunday morning Blog edition.

Writing the Blog on Sunday morning's is always a relaxed event since there are no time pressures. Sunday is the lone day of the week where GFRC does not prepare morning shipments. As a result, I'm able to be more reflective on business status and where the next 30-60 days may take us. The forthcoming election is, of course, a wildcard.

For readers who are curious about late August weather in southern Maine, today brings partly cloudy skies with 90%+ humidity and a projected 83F high during the afternoon hours. Overnight temperature will fall back into the mid 60s. It is best to enjoy these conditions as September will bring typical evening lows into the 50s and a chance for a hard frost by end of month.

The summer of 2020 has been a homestead improvement timeframe. Just as I wrap up the back lot work with Dave Wilkinson on Monday, Diane's top floor remodeling project launches on Tuesday. The lead contractor is Pete Theberge who will coordinate the demolition/rebuilding of the upstairs two bathrooms plus installation of new flooring in three bedrooms along with stairs and hallway. We've known Pete for decades as he finished the daylight basement during homestead construction back in 1985.

 

Sunday Morning Focus on Gold

The huge 2020 gold price rally is no more. During the past ten days, spot gold peaked at $2067/oz and presently stands at $1946/oz. This rally overshoot the 60 and 200 day moving average trend lines by a wide margin and is begining to return to a point of credibility. If an ongoing Blog reader, you may remember that I warned that gold prices were climbing too quickly at the $1880/oz level. Below is the Kitco 10 Year technical chart. I've marked what I believe to be the forthcoming trading range based on how gold prices settled out after peaking in September 2011. My guess is a trading range of $1850 - $1950 through the end of the year.

Kitco 10 Year Technical Chart with GFRC Notation

 

Does gold have longer term downside risks? Based on recent developments, I don't believe so and will start buying gold when it approaches $1850/oz. My challenge is always convincing a Merril Lynch money manager to move monies out of equities into gold.

What are those developments that provide confidence for rebuilding my gold position?

- Warren Buffett taking a substantial position in American Barrick gold miner (ABX).

- Gold ore quality continues to degrade making mining more costly. When global demand ramps, the miners lack incremental capacity due to prohibitive costs for constructing new mines.

- A lack of physical gold to statisfy larger investors that wish to diversify their financial holdings.

- Big bank moving from being short sellers to projecting higher gold prices.

- Global central bank money printing (stimulus) as a response to the 2008 Great Recession and Covid-19 is now the norm. The only tool left to monetize all the created debt is inflation.

- A sense that physical assets are critical in an environment of monetary experimentation and political volatility. The chasm between the U.S. Democratic and Republican parties will not magically disappear after November elections.

 

GFRC Adds Quality U.S. Gold to Price List

I'm pleased to be sharing the following U.S. gold gallery. This fourteen piece lot will help replenish the GFRC gold price list and hopefully satisfy the gold collectors in the community. Dan and I have worked hard to locate the best possible early gold along with CAC approved offerings. Our attention has been on collector gold and not generics that are mostly a bullion play. GFRC does not have the administrative bandwidth to be a player in the bullion gold market.

If all goes to plan, look for the following new gold offerings to reach the price list by end of day. First Rights of Refusal are encouraged to avoid disappointment. Already, there is a FRoR on the 1895 PCGS AU58 CAC G$5.

Quality U.S. Gold Consignments and New Purchases

     1802/1 NGC AU58 CAC G$5                                              1799 Sm Stars Obv PCGS AU55 CAC G$10

    

 1925-D PCGS MS65 CAC G$2.5                    1926 PCGS MS65 CAC G$2.5                       1847-C PCGS EF45 CAC G$5  

            

1886-S PCGS AU58 CAC G$5                     1895 PCGS AU58 CAC G$5                       1906 PCGS AU58 CAC G$5

            

 1909-D PCGS MS64+ CAC G$5                    1881 PCGS MS62 CAC G$10                        1901 PCGS MS64 G$10       

            

 1915 NGC MS60 G$10                           1932 PCGS MS63+ CAC G$10                           1895 PCGS MS63 G$20

            

 

Rebuilding the GFRC Price List for Sleepy September

Now that the back acreage project is closing down, attention shifts to rebuilding the GFRC price lists before Sleepy September arrives. I'm labeling the month of September as "Sleepy" as it is typically the low point of the numismatic business year for the GFRC business. To counter the expected moderation of orders, my strategy is to quickly rebuild the 30 day new offerings price list to at least 150 coins or more as a first step. Additional steps will include the fast turn of consignments and more aggressive buying with GFRC clients who wish to sell top quality coins.

Just this week, I purchased a small Barber lot. The 1892 and 1913 halves, from that lot, were posted to the Blog and price list yesterday and promptly sold. Following are the remaining pieces from that lot. These will load to the price list right after the Blog is published.

1913-S PCGS AU58 10C - Very Choice at Grade

1913-D PCGS AU58 50C                                                         1913-S PCGS AU58 50C 

    

 

Consignments Wanted for Mid September Timeframe

Recent consignment arrivals will keep me engaged for the next two to three weeks but I continue to look ahead to later September and October. Coin shows remain a hit or miss proposition with GFRC carefully watching if the Manchester NH Coin Expo will be held. If Ernie can satisfy New Hampshire health officials, GFRC will be there. Otherwise, GFRC's next coin show will be Winter FUN.

To sustain the business through end of year, an ongoing sourcing of consignments will be critical. My advice remains the same for a win - win relationship between clients and GFRC. Consider converting those unloved duplicates into working numismatic capital via consignment. If considering liquidating a larger collection, GFRC provides unparallel services and low fees. I work hard for your trust and satisfaction. I am the only person you must deal with for any type of question or concern.

 

Wrapping Up The Blog

Maine weather has already improved in the 1.5 hours it took to compose today's Blog edition. What was dense fog at 6:30 AM is now clear blue skies outside the office window.

Let's close the Blog at this point. I need a shower and will be back in the office to load those incremental Barbers and the U.S. gold to the price list.

Please check back on Monday morning as I hope to have the new Palos Verdes Collection consignment gallery ready for viewing. There are some key date Seated quarters in that lot.

Wishing everyone a pleasant Sunday. Please remember to be safe.

 

 

 

August 22, 2020

Quality CAC Approved Type Coins

and

Presenting Second Natural Spring Within Ledge Hill Walking Park

 

Greetings on a peaceful Saturday morning and welcome to the ongoing ramblings known as the Blog. I'm pleased that you could stop by.

It appears that the next three days will bring a mixture of partially cloudy conditions along with afternoon thunderstorms and showers. How I wish for several days of soaking rains as the lawns have become brown colored. Hopefully, September will bring a wet weather pattern after I seed the areas in front of the backyard stone wall.

To be honest, attempting to construct the Ledge Hill Walking Park in parallel with operating the GFRC busines has been challenging. On a positive note, I've lost weight from the ongoing exercise. On a negative note, the combined workloads have worn me out mentally since there is no opportunity to relax. Friday brought a project impasse which I will share shortly. This impasse is a signal to bring the project to a halt for 2020 and allow time to consider potential next steps for the summer of 2021. Much has been accomplished in a short time. A signifcant amount of the coastal horizon has been restored. There is ample firewood for at least five years or more. A wonderful natural spring has been refined and can be enjoyed for years to come. And finally, the current walking trail from the front door to the first natural spring facilitates a daily exercise routine that takes me off the heavily traveled Valley/Ledge Hill roadway.

 

Summer 2020 Consignment Wave Continues Well Above Expectations

The GFRC community is a great group of numismatic friends. My ongoing requests for consignments have been responded to well beyond expectations. This past week brought a substantial number of large consignments. In aggragate, the consignments will keep me busy through the end of September. New consignments are not 5-10 pieces, rather the new arrivals are in the 20-40 piece range. The GFRC consignment backlog has quickly jumped to about 170 coins with several more shipments due to arrive today plus at least one additional transfer in the discussion phase.

The consignment mix is broad based and will expand new offering activities across all GFRC product lines. In the upcoming days, I will begin to announce individual consignments for the usual First Right of Refusals.

 

Quality CAC Approved Type Coins

Rebuilding the 30 day new offerings price list to an inventory level above 120 coins is my near term focus. It bothers me to no end when that price list has dropped to under 100 fresh coins.

Following are four highlights that will arrive to the price list along with other new offerings. These four coins ae new purchases rather than being consigned. The 1855 half dime with Gold CAC approval should garner attention. I would grade this piece as full MS63 or better and struck from heavily clashed dies. I'm sure Clint Cummins will provide the die variety attribution by end of day. The 1814 JR-3 Capped Bust dime is high on the eye appeal scale. Strict originality and eye appeal should be evident concerning the 1846 quarter. Circulated cameo eye appeal is noted on an attractive 1866-S Motto half.

Quality CAC Approved Type Coins

1855 Arrows PCGS MS61 Gold CAC Rattler H10C                               1814 Large Date JR-3 PCGS EF40 10C          

    

      1846 Br 1-A PCGS EF45 25C                                                  1866-S Motto WB-2 PCGS VF35 50C

    

 

Presenting Second Natural Spring Within Ledge Hill Walking Park

Locating natural springs on a personal property is a big deal. This was the case this week when I stumbled onto a second spring on Thursday.

Friday started with Dave and I heading back to the first spring and taking a short walk to look at the second. There is no question that the second spring is much more active in terms of water flow given the wide wet downstream area. Below is an image taken of the second spring looking uphill. Natural springs in the wild are ugly things due to years of accumulated leaves and branches that compost into a thick sediment. Look carefully at the top of the image. You will see that the straight stone wall has an oval shape around the spring's source point. Dave studied this strange observation and immediately shared the reason. Since this land was originally used as pasture and for limited farming, sheep or cows should have been present. The natural spring would have been a water hole for animals to drink. The oval shaped wall around the source was constructed to allow animals on two plots of land to share the same watering hole. In early settler days, the stone walls were used as livestock fencing.

 

Ledge Hill Walking Park - Second Natural Spring

A Natural Spring Embedded in Huge Rock Field

 

Unfortunately, the larger spring is located in a heavy rock field which makes access by Dave's excavator very difficult. We estimated two full days of work to build an access path and clean up years of debris. Potential actions on the second spring have been tabled until next year.

After inspecting the second spring, we went back to work on beautifying the initially discovered natural spring. Dave built a huge stone wall on the uphill side of the spring to stop downill water from carrying sediment into the clear pool. Next, he opened up the outlet to allow for a flowing stream to be enjoyed by visitors. The next photograph shows Dave refining the outlet stream. The large stone wall can be seen in the foreground (bottom of image).

Dave Wilkinson Refining Outlet Stream for First Natural Spring

 

This photograph was taken while Dave was constructing the uphill (protective) stone wall. As usual, he did a fantastic job with the small excavator.

Dave Building Uphill Stone Wall for First Natural Spring

 

But Bad News - Northeastern Trail Construction Hits Impasse

The land at the upper northeast boundary is a massive rock field. We were fortunate to gain access to the first natural spring without a huge amount of time and cost. We estimated two days of digging to reach and clean-up the second spring though just a short distance from the first. The issue is tightly packed boulders and rocks. Raymond has a reputation for its sandy and rocky soil. The Ledge Hill area is predominately a massive rock field left by receding glaciers.

This map of Friday's limited trail cutting indicates the trouble that we ran into. Little up hill progress was made as we struggled to locate a clean path for cutting and moving the excavator. The excavator has a low ground clearance (low center of gravity is key for not tipping over) and has difficulty navigating rocky terrain. Dave must dig and remove rocks to ensure the tool's passage. We ran into a problem attempting to cross a rock field while moving uphill. We made a decision to backtrack on the previous trail and locate a path with minimal rocks. The initial going was ok until we attempted to approach the northeastern stone wall. An intense rock field was hit with the excavator suffering a track failure. A piece of rock had pulled the track off of the spocket and rail guides. Dave was able to correct this issue in a hour but lack of progress dictated an impasse to the current trail.

 

Following is an image of Dave attempting to cut a trail on the uphill northeastern lot boundry area. This photograph was taken before we reached the worst of the rock field. Note the large boulders being removed from the excavator's path.

Dave cutting uphill path through rocky terrain

 

This concludes the Ledge Hill Walking Park efforts for 2020. I have much manual labor in front of me. The paths must be raked and cleared of roots and trip hazards. Holes where large rocks were removed must be filled in to ensure no twisted ankles. These task alone with take several days of effort.

 

Wrapping Up The Blog

Thanks again for being part of the GFRC adventures. My attention shifts to another morning of substantial shipping followed by price list loading and more image processing.

Your purchase inquiries and consignments are always appreciated.

I look forward to seeing you again on Sunday morning. Be safe and well.

 

 

 

August 21, 2020

GFRC New Offering Highlights

and

Second Natural Spring Located Within Ledge Hill Walking Park

 

Greetings and welcome to the Blog on a Friday. Today's edition is bring written at 5:00 AM due to another construction day in the Ledge Hill Walking Park.

I hope that readers understand current time constraints and inability to write a long Blog today. Attempting to operate GFRC at normal levels while spending days in the woods is challenging. The walking park project will be soon coming to an end and life will return to being GFRC centric starting next week

Thursday brought a beautiful southern Maine day leading to a long photography session and a first tour of the back lot natural spring with Diane. Another larger spring was discovered when we made a spontaneous (I thought) decision to walk the northeastern property line. More on this shortly.

 

GFRC New Offering Highlights

New offerings reach the price list yesterday and look to be another sellout. In Wednesday's Blog, I shared a lovely client gallery from a new consignor who wishes to remain anonymous. First Rights of Refusals quickly appeared and were exercise last evening. The only remaining coin this morning is the 1905 PCGS VF35 Barber 50c from that lot. Congrats to the anonymous consignor for a noteworthy debut.

 

Exciting Osprey and GFRC New U.S Gold Offerings

It has been awhile since we've heard from Dan White (Osprey Collection) as he and Rose Marie have been occupied with a newly purchased summer home in Essex CT. I spoke with Dan yesterday during our mutual pre-dinner cocktail hours. They are enjoying their New England location and so pleased to be out of the hot humid Florida summer weather. Their purchase of a historical home brings many maintenance requirements and planned updating projects. Dan is looking forward to the possibility of the Manchester NH coin show taking place in early October. He is ready to again become active within the GFRC coin show circuit.

Dan has found time to locate a new U.S. gold lot to freshen up the GFRC price list. Those piece were photographed yesterday. The highlight is a gem 1799 Small Stars Obverse $10 eagle graded PCGS AU55 with CAC approval. Below is this amazing gold piece and a thrill to have in inventory.

1799 Sm Stars, PCGS AU55 CAC G$10 - A Gem Example

 

Look for a large U.S. gold gallery to appear on Saturday evening that comprised Dan's and my new purchases. The gallery will be an evening Blog preview towards a robust Sunday morning edition. The following new offerings will be included in that gallery and will post to the price list on Sunday. I believe that GFRC's U.S. gold fans will be pleased with this eclectic offering. It has taken Dan and I an appreciable amount of time to acquire these pieces given our strict quality standards.

Indian $2.5: 1925-D PCGS MS65 CAC; 1926 PCGS MS65 CAC

Liberty $5: 1847-C PCGS EF45 CAC; 1886-S PCGS AU58 CAC; 1895 PCGS AU58 CAC; 1906 PCGS AU58 CAC

Draped Bust $5: 1802/1 NGC AU58 CAC

Indian $5: 1909-D PCGS MS64 CAC

Draped Bust $10: 1799 Sm Stars Obverse PCGS AU55 CAC

Liberty $10: 1881 PCGS MS62 CAC; 1901 PCGS MS64

Indian $10: 1915 NGC MS60; 1932 PCGS MS63+ CAC

Liberty $20: 1895 PCGS MS63 with PL fields

 

GFRC Purchases a Quality Barber Coinage Lot

I made mention in a prior Blog editon of a Barber coinage lot arriving for purchase. That lot arrived on Wednesday and was purchased yesterday. At GFRC, we are ready to make quick purchase decisions for those who wish to sell coins outright.

Following are two pieces from that lot that should capture immediate attention by those pursuing AU58 CAC approved coins as their primary collecting goal. The 1913 Barber half is a notable offering that will not last long. I will post the entire lot during the weekend.

Barber Coinage New Purchase Highlights

1892 PCGS AU58+ 50C                                                   1913 PCGS AU58 CAC 50C

    

 

Second Natural Spring Located Within Ledge Hill Walking Park

Thursday afternoon brought another exciting discovery in the Ledge Hill Walking Park.

Diane and I walked the trails that have been cut to date with the goal of inspecting the natural spring and seeing how clear the pool had become. No mentioned at the time was Diane's secondary goal of measuring the walking distance with an app on her iPhone.

We walked down the long trail and arrived at the spring. To our delight, the freshly dug pool had already cleared with the gravel bottom being visible. The wafer was fresh and cold. Since being dug up, the spring is generating more water flow as seen at the outlet and forming a small active stream heading downhill.

Diane decides to visit the adjacent stone wall and notes that the land adjacent to the wall is free of dense woods and suggests we walk the northeast and northwest property lines to return home. This we do and upon ascenting about 100 ft, a second much larger spring is discovered immediately adjacent to the stone wall. The wet area around this spring is much wider than the downhill find. Dave and I will be inspecting this additional natural spring this morning as part of our trail cutting on the northeastern property line. Digging this spring may be challenging due to its location adjacent to a well preserved stone wall.

Diane and I subsequently complete the hike along the northwestern walled property line and found an additional large stone wall that was not apparent from the Google satellite image. We walked the area adjacent to that wall and returned back to our home. Total distance, as measured on Diane iPhone, was approximately 1.2 miles. It appears that I underestimated the potential length of the entire loop when considering front door to the park and returning back to the homestead. A 1.2 mile self contained walking trail within our property is ideal for daily exercising.

Following is an updated Ledge Hill Park map with the two natural springs noted.

Location of Ledge Hill Park's Second Natural Spring

 

Global Financial News

Quickly looking at global equity market futures, we find that all markets are flashing green and positioned for more gains. Following are the usual morning market futures courtesy of Seeking Alpha.

In Asia, Japan +0.17%. Hong Kong +1.30%. China +0.50%. India +0.59%.

In Europe, at midday, London +0.08%. Paris +0.21%. Frankfurt +0.30%.

Futures at 6:00, Dow +0.08%. S&P +0.04%. Nasdaq +0.14%.

Spot gold pricing opens a new trading day at $1941/oz.

 

Wrapping Up The Blog

Please check back this evening for more images from the Ledge Hill Walking Park project. I will certainly have images of the larger spring and a report on Dave Wilkinson's recommendations and action to create a second spring pool on the walking trail. I'm expccting fairly quick trail cutting if we stay close to the northeast wall. It appears that the settlers used up much nearby rocks to build that wall thus clearing that area for hopefully, quick path cutting.

 

 

 

August 20, 2020

Back in the GFRC Office

and

Ledge Hill Walking Park Construction Highlight - A Natural Spring

 

Greetings and welcome to the Blog on a Thursday morning. Thanks for checking in and being part of my story.

Another beautiful late August day arrives with a brisk 49F as the Blog is composed. Temperatures will increase and move into the high 70s by mid afternoon with sufficient sunshine for a substantial amount of consignor photography.

Today's Blog will focus on the Ledge Hill Walking Part construction effort that has been my focus during the past 48 hours. Before discussing that project's progress and sharing highlights, I would like to divert and make mention of two brief but important topics. The first is the online media's destructive impact on the emotional and mental health for those who may be unduly susceptible.

 

Recognizing Mental Stress as the U.S. Election Approaches

In the past ten days, I have had conversations with three GFRC clients and their ability to cope with mental health in today's environment of negativity and fear mongering by the medias. One individual has been a long term client and suddenly exploded during a coin purchase, returning the coins and ending our relationship. Several days later, he apologized via email and explained that he was dealing with a severe bout of depression. He cited the ongoing negativity of American events and upcoming election as taking him into a low space. A second individual sent several "bizarre" emails concerning a coin purchase. The tone was from an individual who appeared to be thoroughly stressed and ready for an fight. Subsequently, the individual apologized and also cited being depressed by current events and portrayal by the media. Finally, I had a long phone conversation with the Sooner Collection consignor. One of the topics was the state of media and his need to shutdown access to maintain a sense of well being. He has gone from being an online new junkie to abstinence in order to sustain his ability to cope with several personal challenges and business focus.

Bottomline, there are parallels between physical health and the foods consumed (and daily exercise) as compared to mental health and the type of online media content that is consumed. Fear and negativity raise stress levels, positive content supports happiness and a sense of mental wellness. Spend your time online wisely.

 

Seth Godin's Blog - Cheating

I find it interesting that Seth Godin has chosen this week to publish the following blogpost on "cheating". In life, there are those who have little self respect and believe that the ends justify the means. Cheating is one of the tools for accomplishing goals. Seth Godin rightfully points out that cheating denegrates and can destroy the system in which it takes place. We've seen this take place in major sports, politics, and within the business world.

I can assure the GFRC community that my integrity is much more important than making a fast buck on a coin transaction. When the final day in a life arrives, you will be remembered not by accomplishments but how those accomplishments were achieved along with personal relationships.

There are really only two ways to approach this:

“We don’t cheat.”

“We cheat when we can get away with it.”

The posture of, “our side doesn’t cheat,” is the belief in the validity of the game itself. It’s a statement of moral authority, a promise of consistency and valor. It respects the process.

The posture of, “cheat if you can,” is the belief in the ends at any cost. It degrades the system, because if everyone cheats, then there is no system left.

Cheaters often brag about their exploits, because they want to normalize them.

Sophisticated competitors, the ones who really want to win, understand that cheating destroys the very thing they set out to do. Because once cheating is normalized, the winner is the person who had the guts to cheat the most and destroy the system, not the one who deserved to win. Being against cheating doesn’t mean you don’t want to compete, it means that you do.

In every community, on every team, there are people who believe that the only chance they’ve got is to cheat. Our systems persist only when peers in the community step up and insist that the cheater stop. Because being on a team that wins by cheating is ultimately self-defeating.

 

Back in the GFRC Office

There is no question that I will be in the office the entire day. The Ledge Hill Park construction project has taken a toll on my ability to deliver services consistent with past performance. This is recognized. I will be catching up on past due items and client communications throughout the day.

Thank-you for the patience as my responses to inquiries has slowed during the past 72 hours. We should be back to normal by the end of today.

 

Ledge Hill Walking Park Construction Highlight - A Natural Spring

The construction of walking trails across a 20 acre wooded lot is a substantial undertaking. Projects of this size don't automatically happen or can be delegated. I made the conscious decison to slow the GFRC business down for a few days to conduct a project that has been a vision for decades. That vision is becoming a reality and I hope that you don't mind my sharing the details in the Blog. The Blog is much more than numismatic ramblings.

Wednesday brought another early start to a day. I arose at 4:00 AM recognizing that some coin shipments had to be get done before Dave Wilkinson arrived at 8:00 AM. The day would bring a substantial challenge of navigating through woods and rock fields to reach out goal by end of day; the natural spring at the northeastern corner of the 20 acre lot. There was this incredible sense of excitement at the start of the day. I had only seen the spring during the middle of winter since passage through the woods during summer months was difficult due to tree density, rock fields, and the omnipresent wood ticks.

Dave and I are working as a team. My role is to scout the land and determine the path of least resistance for Dave's excavator. Of course, I must ensure that we do not stray on a neighbor's property when operating near property lines. Removing trees and/or digging up boulders are the two parameters that are guiding my path selections. Dave's excavator requires a minimum of 6' passage but realistically needs 8' to swing his bucket arm.

The stone wall that forms the eastern property line is essentially gone after centuries of being buried in leaves and composting. To ensure that we did not stray into the adjacent property, the below Google Map with overlaid property lines was constructed and printed. The satellite image was taken during the April/May timeframe with each large pine tree well captured. The visible pine tree line that was growing on the property line became our guide along with GPS positioning (real time Google Maps) on the cellphone.

We made good progress as the beginning of the day until about 11:00 am by staying close to the property line. The rock field density appeared to be lower by the old wall. We then came upon one of the 40-50' pine trees that had fallen down and was blocking our path. Dave's excavator could not move such a behemoth resulting in a path around the fallen tree. Unfortnately, the path took us into a dense rock field. At first, I thought this area would be easy sailing until careful examination revealed a host of various sized buried boulders to the point that trees could not find places to establish roots in the densely packed rocks. Dave struggled for two hours as we forged a path that took us through the end of the fallen pine tree and on the edge of the dense rock field. Once this area was cleared, we made good progress until reaching another area of huge boulders. We were cutting into a area that was blocked by six car sized boulders that Dave could not move. We stopped and both scouted the landscape. Dave found a 6' space between two of the boulders and assured me he could get the excavator through that spot. This he did while I went ahead with cellphone and GPS tracking. Beyond the huge boulders was our prize, the natural spring and northeastern most point of the property. I was like a kid at Christmas. Following are several images of the many taken to document this project phase.

 

Ledge Hill Walking Park Construction Progress

Ledge Hill Natural Spring is Located and Optimized

 

Ledge Hill Walking Park Construction Images

As said before, Dave wears his excavator like a glove. I am constantly amazed with his efficient techniques for knocking down trees, digging rocks and flattening the soil into a walkable path. Dave never complains about the landscape and the challenges poised.

Dave Wilkinson Digging Through a Boulder Field - Tough Going

Easier Going For Dave

 

Gerry (the Scout) Locates the Natural (Ledge Hill) Spring

This image cannot capture my absolute joy when finally locating the natural spring. The spring water was bubbling out of the ground and cold. This is remarkable considering the elevation and dry conditions. The spring was several feet into the ground with a long outlet passage through the rocks. Where the water flows to in presently unmapped. One could see the water flow heading down the hillside into the adjacent property. The below picture was taken facing uphill into the top of the spring.

Cold Water Bubbling Out of the Ground - What a Thrill!

 

I returned to inform Dave that the natural spring had been found. He was excited and exited the excavtor for a visit. The occurence of natual springs in uncommon in Maine. The most famous is the Poland Spring which just happens to be about 10 miles from the Raymond property. This image documents Dave's approach to the spring. The trail is rough as through yet another rock field.

Dave Wilkinson Approaching the Ledge Hill Spring

 

Dave has experience in uncovering and managing naturally occuring springs due to a long career in land management and excavation. He made recommendations for immediately digging out the accumulated sendiment in the spring and I agreed.

Dave Digging out Ages of Accumulated Sediment in the Spring

 

This final image was taken at the end of day. Dave dug a decent sized pool and built a stone staircase for access. We will return on Friday to expand the stone wall to the northern side of the spring. My goal is to have a clear pool during every visit. It is important to control sediment flowing into the spring pool from rain and snow pack water that travels down the hillside.

The pool was quickly filled by the spring with water again flowing down the outlet path by the time we called it a day.

Presenting the Ledge Hill Spring - The Walking Park's Featured Attraction

 

Global Financial News

Some volatility is creeping back into global equity markets and gold spot pricing as we start another trading day. I'm at a lost to explain the cause but then again my head as been in the woods and not focused on the online financial media. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan -1%. Hong Kong -1.54%. China -1.30%. India -0.84%.

In Europe, at midday, London -1.32%. Paris -1.43%. Frankfurt -1.22%.

Futures at 6:10, Dow -0.39%. S&P -0.36%. Nasdaq -0.16%.

Spot gold pricing has dropped to $1936/oz while crude oil pulled back to $42.60/bbl. The 10 Year U.S. Treasury bond yield has also moved down to 0.65%.

 

Wrapping Up The Blog

This has been a long edition and hope that you've enjoyed the content. For some reason, I felt a bit outspoken this morning and a need to share.

Yes, I will be in the office the entire day catching up on order shipments followed by consignment photography and all the other things that are done during a normal day.

Thanks for visiting with me. Be safe and both physically and mentally well. See you tomorrow at the Blog

 

 

 

August 19, 2020

Quality CAC Approved Type Coin Consignment

and

Full Day on Ledge Hill Walking Park Construction

 

Greetings and welcome to the Blog on a Wednesday.

What a beautiful southern Maine morning! Clear blue skies abound with a temperature of 54F. Today's highs will reach the mid 70s by afternoon time. The weather conditions will be ideal for a full day in the back acreage and clearing 900' of walking trail.

Yes, I will be taking time away from the GFRC office to tackle a project that I've dreamed about for years. With time and new housing construction in North Raymond, the Valley and Ledge Hill roads have become a defacto east-west highway for those commuting to Lewiston-Auburn and down through Gray to I-95. Walking the shoulder on this roadway has become dangerous. Several distracted drivers have nearly hit me during the past two years. Defensive walking against the traffic flow gets old. Speeding is also prevalent as everyone is in a hurry and stressed.

The back lot is a 20+ acre parcel that would be ideal for constructing a 0.75 mile walking trail within the perimeter boundaries. The land is sloped and rocky. Walking within an existing foreast and tree canopy would be cool during hot summer mornings and so scenic once the foliage colors start transitioning in mid September. There is a natural spring on the northeast corner of the property that I have seen only twice in 35 years. Why not make that natural spring a destination within the Ledge Hill Walking Park?

Today's Blog will be brief as Dave Wilkinson arrives at 8:00 AM. More on the trail cutting project shortly.

 

Summer 2020 Consignment Wave Continues

Just when it appears that the consignment backlog would be minimal, a substantial consignment wave is crashing upon the GFRC shores.

Tuesday brought the arrival of two USPS Express shipments. The first, from Dan White, contains some exceptional early gold pieces that I will announce in tomorrow's Blog edition. A second package arrived from another client turned consignor. GFRC's collection pruning and numismatic capital raising message is hitting home with many clients. This new consignor took my advice to heart and culled out nearly 50 coins. The lot includes something for everyone; half cents, Indian cents, Barber quarters, and a huge offering of Capped Bust and Liberty Seated halves.

If that was not enough to keep me out of trouble, the Palos Verdes Collection consignor has shipped an ecletic lot with several key date Seated pieces. Included in the shipment are 1872-CC NGC VF35 and 1873-CC PCGS VF20 Seated quarters plus an 1878-CC NGC AU55 Seated half as the primary highlights.

I was on the phone last evening with the RCA Collection consignor. His 20 piece AU grade Barber quarter consignment ships in the next 48 hours.

I can't thank the GFRC community for responding to requests for incremental consignments for sustaining the business through end of September without coin show attendance.

Following is a super lot of CAC approved silver type from yet another new GFRC consignor. Your First Rights of Refusals are welcomed as these will not last long once reaching the GFRC price list. Already there are individuals on the 1876 25c and 1849-O, 1875-CC, 1877-CC halves. I hope you enjoy viewing this gallery!

 

Choice Original CAC Approved Type Coin Consignment

1849-O WB-1 PCGS AU50 CAC OGH 50C

   1875-CC WB-5 PCGS EF45 CAC 50C                                            1877-CC WB-11 PCGS AU50 CAC 50C

    

1876 PCGS VF35 Gold CAC 25C                 1924-D PCGS AU55FH CAC 25C                      1905 PCGS VF35 CAC 50C

            

 

Full Day on Ledge Hill Walking Park Construction

Constructing a personal walking park has been a dream for years. The back 20 acres have not been used since purchasing the property during 1985. The acreage is landlocked with the potential access road being the location of our home. By deed restrictions, the back acreage cannot be sub-divided. It is deeded to remain in its natural setting into perpetuity.

Below is a map that was created by using Google Maps and the property drawings from 1985 purchase documentation. This is a substantial piece of land. The homestead was placed on a 265' wide access lot with the balance of the land being behind and to the north of the house. Stone walls clearly mark the eastern and northern boundary lines. These will be incredibly useful when cutting the walking trail. Otherwise, I must rely on Google Maps and GPS guided positioning.

I've illustrated the trail cutting progress to date. Dave and I spent Tuesday afternoon cutting through the forest. Our goal was to be minimally evasive and removing just enough small trees and rocks to build a walking path the width of Dave's excavator. There were some challenges on Tuesday afternoon, namely the downward slope of the hill to reach the bottom stone wall property line. Our progress is marked with a red line on the map.

Today brings the huge task of cutting about 900' of trail through dense pine and maple trees towards reaching the northeast property line. The reward is gaining acess to a natural spring. Both visits to the spring were during winter time. That area remained unfrozen with water bubbling out of the ground. . Luckily today's trail cutting portion of the terrain is flat. Our challenge is to locate paths through the trees and rock fields that will allow steady progress. As Dave told me yesterday, "you lead the way and I will follow you". Dave wears his small excavator like a glove and continues to amaze me with his expertise.He is well worth the daily fee.

 

Raymond Acreage and Ledge Hill Walking Park Layout

Cut Trails Marked in Red

 

Global Financial News

Global equity markets are mixed to start a Wednesday. United States markets are once again in record territory. Those who did not panic during the late February/early March sell-off are enjoying the fruits of their patience. Those who invested during the sell-off have done very well in the matter of several months. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan +0.26%. Hong Kong -0.74%. China -1.24%. India +0.28%.

In Europe, at midday, London +0.11%. Paris +0.32%. Frankfurt +0.32%.

Futures at 6:00, Dow +0.19%. S&P +0.17%. Nasdaq +0.16%.

Spot gold is quoting at $2002/oz and $42.79 will buy you a barrel of crude oil. The 10 Year U.S Treasury bond yield stands at 0.65%. Now might be the time to consider the potential for a bond market rally as the economy continues to recover.

 

Wrapping Up The Blog

Dave Wilkinson arrives in a few minutes. I need to get appropriately dressed for a long day in the woods.

GFRC purchase inquires and general emails will be responded to after 5:00 PM or during the evening hours. Dave does not work on Thursday, therefore I will spend a full day in the office tomorrow.

Thanks for checking in at the Blog.

 

 

August 18, 2020

Maine Coastal Horizon View Expands

Ledge Hill Walking Park Construction

and

Summer 2020 Consignment Wave Update

 

Greetings on a Tuesday and welcome back to more ramblings known as The Blog.

My day started early at 4:00 AM towards catching up on client orders and consignment proposals. While enjoying an early breakfast, I made the mistake of strolling through several online "news media" websites. The content is a depressing way to start a day and best to avoid until the election circus is behind us. Staying focused on GFRC, numismatics, and the host of homestead improvement projects brings a sense of accomplishment and happiness.

The southern Maine weather forecast has shifted in the past 48 hours. Tuesday was previously expected to bring showers and thunderstoms. Currently, the forecast is for clouds without precipitation. This is unfortunate as the ground is bone dry leading to lawns turning brown again. The back acreage project is becoming a "dust bowl" when walking on the uncovered dirt paths.

Today's Blog will cover a host of topics. Leading the topics is an update on the back acreage project.

 

Maine Coastal Horizon View Expands

Dave Wilkinson continued his efforts to uncover our Maine coastal horizon view on Monday. The huge maple tree, on the left side of the view, was accessed and has been cut down. My neighbor Rick also dropped the large pine tree that was straddling the property line. As a result, our coast view has nicely expanded and is showcased next. Clicking on the image will provided access to a larger high resolution image. If carefully inspecting the large image, there are two additional items to note. First is a 6 yard pile of loam on the prior burn pile location. That loam (top soil) will be spread on disturbed area, in front of the wall, leading to a lawn planting event during Labor Day weekend. Second is dirty brown stones added to the right side of the stone wall. These rocks were pulled from current path clearing efforts and brought up to the primary stone wall for placement.

I've included prior coast view images from August 14 and August 11 to showcase the progress that has been made.

Today's effort will focus on a huge maple tree stand on the right side off the horizon. I've marked three incremental maple trees to be cut for expanding the right side horizon view.

The coastal view from our top floor bedroom is just spectacular and as remembered during the late 1980s.

 

Maine Coastal Horizon Expands

August 17 Mid Afternoon View - Clear Blue Skies

August 14 Mid Afternoon - Coastal Horizon View Thoroughly Enjoyed

August 11 End of Day Baseline

 

Ledge Hill Walking Park Construction

In Monday's Blog, I referred to the back acreage project as the "Rock Park". After revised goal setting and careful thought, the back acreage project will be known as the "Ledge Hill Walking Park". Why? Please read on.

Diane and I have made a command decision to turn the back lot into a 1/2+ mile forested walking loop. Dave Wilkinson will be forging a lot perimeter path that will open up access to our land for the first time in 35 years. On Monday afternoon, I was down in the forest marking a clearing path parallel to the right side of the property line. That path is about 75-100' within the property line to ensure good neighborly relations. Once Dave reaches the back property line (another long stone wall), he turns left and will forge the next segment of the walking trail up to the northern lot boundary. At that intersection is a free flowing natural spring that I have only seen twice since owning the property. The spring will become one of the viewing highlights in the new Ledge Hill Walking Park. Of course, the main attraction for visitors will be rocks and ledge outcrops.

Below is an image of the type of path being cut by Dave Wilkinson. This path was cut on Monday to access the huge maple in the August 14 coastal view image. I've marked the base of the tree trunk on the image. Note the boulder size which is typical of the landscape. These type of boulders are found throughout the acreage. Dave Wilkinson indicates that he is unable to dig without hitting an endless amount of rocks.

 

Ledge Hill Walking Park Construction

Excavator Path to Huge Maple

 

Here is a not so great image of the second stone wall that is embedded inside the acreage. Dave will continue to augment this wall with available rocks.

Second Stone Wall is Revealed

 

Christmas in August Sale Shipment Update

The 2020 Christmas in August Sale was a smashing success. That success brings a substantial amount of lot shipments. Diane and I made some progress with shipments on Monday. Today brings a huge shipment day as I will be able to stay focused in the office and not running back and forth to the Ledge Hill Walking Park for marking incremental paths. Dave has a sufficient amount of marked land to keep himself busy throughout the day.

GFRC clients can expect their sale orders to ship today if using Trading Desk credit or being on the Quick Ship program.

 

Summer 2020 Consignment Wave Update

I'm incredibly grateful to the many GFRC clients who have responded to my plea for incremental consignments. The past 48 hours has brought the offering of five consignments. The Tenafly and Palos Verdes Collection are the latest to make consignment commitments and promising to transfer this week. They are substantial including a host of CAC approved offerings. Once the Christmas in August sale admin work in completed, I will start itemizing new consignment contents in the Blog for the usual First Right of Refusals.

 

Lizard King Collection $5 Gold on Price List

A brief reminder is in order for the quality $2.5 quarter eagle gold consignment from the Lizard King Collection. Those pieces have been loaded to the price list as of Monday evening. My favorite offerings are the 1853 and 1877-S dates from an eye appeal perspective. If a fan of low mintage dates, there are many to choose from including the delightful 1887 PCGS MS62 specimen which is one of 6,160 minted.

 

Global Financial News

A major development for gold bugs is Warren Buffet taking a 21% stake in ABX. American Barrick is a leading gold miner and has been undervalued due to a failed South American mining project. If Warren Buffet is moving into gold stocks, the potential appreciation of the yellow precious metal warrants new attention. Spot gold pricing presently stands at $2004/oz per Kitco live trendgraphs.

Global equity markets are flashing green again and continuing the post Covid-19 rally. The U.S. DJIA is just shy of the 28,000 level and may break through that mark today. Following are market futures courtesy of Seeking Alpha.

In Asia, Japan -0.20%. Hong Kong +0.08%. China +0.36%. India +1.27%.

In Europe, at midday, London +0.10%. Paris +0.49%. Frankfurt +0.37%.

Futures at 6:20, Dow +0.13%. S&P +0.11%. Nasdaq +0.28%.

Further reinforcing expectations for global economic recovery is crude oil pricing climbing above $43.00/bbl.

I've scanned Seeking Alpha headlines and found nothing worth sharing in this Blog edition. It is time to wrap up.

 

Wrapping Up The Blog

Thanks for making the Daily Blog and overall GFRC website a regular part of your online day. Spending time here is more emotional sound than viewing "news" websites. My goal is to provide clients and visitors with a broad range of services and free information. The GFRC Sales Archive continues to grow and provides realistic pricing data directly from GFRC sales activities.

As stated earlier, today brings a major push to wrap up Christmas in August sale shipping. Once that is behind me, the focus shifts to adding lots more new offerings to the price list.

Yes, I will be in the office the entire day other than mapping the back property line for Dave Wilkinson come mid afternoon. Every GFRC order is precious and will receive my wholehearted attention. Ditto for consignments as I'm all ears for handling your divestments and numismatic capital raising efforts.

Be safe and well.

 

 

 

August 17, 2020

"The Rock Park"

and

A Quiet Close to Christmas in August Sale

 

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

As the Blog is written, outdoor temperature is only 61F and will reach an afternoon high of 74 degrees. A break from the extended heat wave has arrived along with a forecast for rain on Tuesday.

 

"The Rock Park"

Your blogger is a tad sore after spending 3-4 hours in the back acreage on Sunday afternoon. Moving forward, the back acreage project will be named "The Rock Park". The selection of "Ledge Hill" as the traditional mapped name of this immediate area is appropriate given the vast amount of rocks and boulders that are omnipresent.

On Sunday morning and I armed with yellow construction hazard tape, I decended into the Rock Park to map out two new trails for Dave Wilkinson to cut. Both trails lead to huge trees that will be removed as part of the horizon recovery effort. When marking the trails, I was searching for "paths of least resistance". Paths of least resistance will result in minimal tree cuttings and will lead to the formation of multiple walking trails. Diane is excited about being able to walk daily in the Rock Park. The challenge with locating paths of least resistance is a combination of avoiding large trees and protuding boulders that block the excavator's movement. As I walked the land, the boulders are everywhere. Paths were marked that should optimize Dave's progress but are definitely not straight lines. How the early settlers were able to clear this land and turn it into pasture fields is difficult to fathom. A second stone wall has been uncovered deeper in the Park and will be photographed and posted in the coming days.

Once the two new trails were marked, I was back in the GFRC office responding to Christmas in August Sale orders and loaded the 1876 Centennial Set coins to the price list. Afternoon brought a John Deere tractor session. Remaining ashes from the old burn pile area were carefully removed and transported as fill into The Rock Park. It took four cartloads to complete that dirty task. When dumping each load into the Park, I would collect rocks and transport those to the primary rock wall. Lifting large rocks is great upper body and back exercise to say the least.

A "vision" for how the Rock Park walking trails will be cut is starting to emerge. Dave Wilkinson may be on site for another week. He arrives today with 6 yards of loam to enable my filling in areas in front of the stone wall and planting a lawn during Labor Day weekend. GFRC will not be traveling to Columbus, Ohio this year for the CONA show. I would rather concentrate on the online business and homestead property improvements.

 

A Quiet Close to Christmas in August Sale

The Christmas in August Sale came to a quiet close on Sunday evening. Everyone was spent out with just a few final orders which is just fine by me. I was in bed before the sale closed due to the day's physical activities.

A sincere thanks to everyone who took part in the Christmas in August Sale. It was a record breaking GFRC event and I could not be more pleased. Shipping boxes are stacked high and will be the morning's priority. If you have not received an invoice for a Christmas in August Sale purchase, don't be bashful. A reminder will be appreciated.

The next GFRC sales event is the traditional Black Friday Sale. However, we don't wish to think that far ahead as it implies snow on the ground and the migration to Venice Florida office. So much remains to be done here in Raymond.

 

Summer 2020 GFRC Consignment Wave Continues

In Sunday's Blog edition, I made a plea for incremental consignments to sustain the Summer 2020 Consignment Wave. I'm pleased to report that within a few hours of that plea, multiple consignment proposals arrived via email. By end of day, four new consignments were discussed across a broad range of denominations and designs. Here are the highlights;

- The Osprey Collection is shipping a new lot with several noteworthy early U.S. gold pieces. Dan was most excited about one of the offerings.

- The Murphys Collection is shipping a smaller lot of Seated Carson City quarters and halves.

- A phone call was held with The RCA Collection after dinner. He plans to ship a 20 piece Barber quarter collection as a fresh consignment. All are better dates plus being hand selected lustrous AU 53 - AU58 examples housed in PCGS holders.

- A new individual contact me concerning four AU58 Trade dollars that can be consigned or will be an outright purchase.

- At this point, the Gerry Fortin Reference Collection will also add a ten piece Liberty Seated dime lot into the GFRC backlog.

- Also arriving to the price list this week, is a 20 piece contemporary counterfeit lot from the Coney Collection.

A sincere thanks go out to those who made consignment commitments. I'm sure a few more consignments will emerge during the second half of August.

 

Global Financial News

Another trading week arrives with global markets in an upbeat mood. Market futures, courtesy of Seeking Alpha, are consistently favorable other than Japan.

In Asia, Japan -0.83%. Hong Kong +0.65%. China +2.34%. India +0.11%.
In Europe, at midday, London +0.34%. Paris +0.18%. Frankfurt +0.13%.
Futures at 6:15, Dow +0.27%. S&P +0.33%. Nasdaq +0.59%.

Spot gold is trading at $1960/oz while crude oil remains in a tight trading range at $41.89/bbl. The 10 Year U.S. Treasury bond yield is flat at 0.696%.

Gold mining will be become more and more expensive as ore grade continues to collapse. Will this drive higher gold prices due to supply shortage?

Gold bugs love rally, but ore getting tougher to mine. Gold miners are enjoying an extended rally, exclusive of the COVID-19 sell-off in March, as the price of the ore continues to climb, up ~28% this year. Prices topped $2,000 per ounce before running into profit-taking. The bad news is the expected long-term rise in mining costs due to the difficulties in extracting the precious metal in less-hospitable places. The grade of ore being mined, the amount of metal per ton of rock extracted, is also falling, now 1.46 grams per ton, far below more than 10 grams in the early 1970s. Executives, wary of the costly overexpansion during the last run-up, have used the bull market to pay down debt and increase dividends rather than start new projects.

 

Wrapping Up The Blog

So ends another Blog edition.

I must stage the morning shipping and print labels before Dave Wilkinson arrives. Once Dave is here, we will discussed the yellow tape marked trails and his next cutting efforts. Afterwards, it is back into the office to complete a portion of the Christmas in August Sale shipping. That shipping should be cleared out by Tuesday.

Thank-you for checking in at the Blog. I should be in the office throughout the afternoon and will load the Lizard King's U.S. $2.5 gold to the price list and start image processing for the lot of fresh coins purchased at the stealth Nashua NH dealer coin show held about ten days ago. You can expect a nice range of new offerings in this lot.

Be well and take care....

 

 

 

 

 

 

August 16, 2020

Christmas In August Sale Wraps Up Today!

and

1876 Centennial Set - Quality New Purchases Heading to Price List

 

Greetings on as mid-August morning and welcome to the Blog.

Seasonal cooling has arrived on schedule. This morning's Blog composition temperature is only 59F with the office windows closed. Today's high will only approach the mid-70s. The ten day weather forecast suggests that 80F will be the upper boundary for day time highs along with low to mid-60s during the overnights. In just two weeks, September arrives with shorten daylight and rapid overnight cooling. Before we know it, colors will start to appear in the foliage. Already, the front yard burning bush (Euonymus alatus) is showing hints of crimson coloring.

 

Just Doing My Job - Asking for New Consignments!

The GFRC business model is firing on all cylinders with an expanding customer base. The past few months have brought a slew of incremental customers who are scooping new offerings as quickly as they are posted. Case in point is the Baltimore Collection U.S. $5 gold offering. One individual purchased eight of the ten offerings leaving few for other clients.

As of today, there are only two higher priced consignments awaiting price list posting. One is the Lizard King U.S. $2.5 gold (pricing has been approved) and a second small lot of CAC approved Liberty Seated halves. That is it! A customer turned consignor ships a wide ranging lot of duplicates on Monday. Also coming next week is a 20 piece lot of contemporary counterfeits to bring to the price list. Afterwards, the shelves are bare with the only recourse being more Liberty Seated dimes from my reference collection and raw Seated coins pulled from several Dansco albums.

GFRC needs your duplicates or a collection that no longer excites you. The market is strong with escalating prices for CAC coins along with a trickle down for unapproved early type.

Given the "bare shelves", I will be able to rapidly turn your consignments into sales. I need all Liberty Seated, Draped and Capped Bust, and Barbers denominations, along with United States gold. My working capital chest is robust and allows me to conduct outright purchases of newly offered coins if that is the desired route.

One comment on buying coins please. If you wish to sell coins to GFRC, they must be shipped to me for evaluation. I've received several opportunities to buy coins but the individuals simply wish to give me a sight-unseen list of TPG graded coins and expect a quotation. Would anyone purchase coins in this manner? Sure cellphone images help but are not the end all for a fair evaluation.

Please consider GFRC for any divestment needs ranging from $5,000 to $500,000. You net return will surely be higher than shipping coins to those larger firms with high operating costs.

GFRC also provides insured shipping. I will personally work with you to explain the transfer process. I believe this is one of the most challenging aspect of divesting numismatic holdings. Nearly every collector has hesitation to place valuable coins into the USPS system. Rest assured that the USPS Overnight Express service is high reliability and FAST! Collectors can ship up to $60,000 of insured value in a single USPS Express box under GFRC's Hugh Woods business insurance. Your cost is typically $45 per box unless shipping heavy Seated or Trade dollars. If you need PCGS or NGC boxes for transferring large quantities, I can ship those to you immediately! Working with GFRC is having a personal consultant to help with the divestment process.

 

Scott Grieb Provides Updated Feature Articles

For those who enjoyed the posting of Scott Grieb's featured articles on San Francisco Dimes and Coin Stories, I'm pleased to report that Scott has completed a final editing of both documents and resubmitted for posting at the Daily Blog's Guest Blog link. During the upcoming week, I will be converting the articles from Word to HTM format and adding to the website.

I can't thank Scott enough for his support of the Daily Blog.

 

Christmas In August Sale Wraps Up Today!

Saturday brought a typical day during a GFRC sales event. The order pace slowed substantially as expected. Every new order has been appreciated and is captured within the Christmas in August Sale discounted price list. Regardless of the easing sales pace on Saturday, two day discounted sales currently stand at ~ $40,000, an all time GFRC record.

The Christmas in August sale closes today at 9:00 PM ET. After 9:00 PM, all prices return to their pre-sale levels. Within time running out, everyone is encouraged to give the sale one more check for a potential bargain.

Starting at 9:00 PM, I will be sending invoices to those whom have not already been contacted. Monday morning brings a huge shipment workload as most buyers are on the GFRC Quick Ship program at this point in time.

 

1876 Centennial Set - New Purchases Heading to Price List

One of the recently purchased lot is this lovely 1876 Centennial Set that was assembled by a GFRC client. All pieces are PCGS graded and in Mint State condition. The highlights include a fabulous 1876-CC F-124 dime that would please the most selective collector. Also showcased in a deeply lustrous 1876-CC Seated quarter graded MS64. This piece has the Springfield Collection pedigree and is listed in the Sales Archive.

Also worthy of mention is the 1876-CC WB-42 Liberty Seated half dollar graded PCGS MS61. This is a 2014 discovered die pairing (by Mike Clark) and documented by Bill Bugert with an addendum page on the LSCC website. Click here to download Bill's 1876-CC WB-42 addendum page. This new die variety carries an R7 rarity rating for the time being. The diagnostics are easily seen and attributed on the offered GFRC specimen.

1876 Centennial Set - New Purchases Heading to Price List

1876-CC F-124 PCGS MS64 CAC 10C                                                1876-CC PCGS MS64 25C               

    

             1876  PCGS MS64 3CN                                  1876 PCGS MS64 5C                         1876 Type 2  F-102 PCGS MS65 10C

            

   1876-S F-123 PCGS MS62 CAC 10C                      1876 PCGS MS63 25C                              1876-S PCGS MS64 25C             

            

1876-S  PCGS MS63 CAC OGH 50C              1876-CC WB-42 R7 PCGS MS61 50C

        

 

Wrapping Up The Blog

There is little else to share at this point.

Today's priorities are loading the Lizard King $2.5 gold and the 1876 Centennial set to the price list. A few hours of the day will be allocated to ongoing landscaping projects that must be completed before the snow flies.

Thank-you for visiting with me on a Sunday morning. I will be back on Monday with a summary of the Christmas in August Sale results.

Be safe and well!

 

 

 

August 15, 2020

Overwhelming Christmas In August Sale!

and

Maine Coastal Horizon View Thoroughly Enjoyed

 

Greetings once again and welcome to a weekend Blog edition.

Cloudy and cool conditions are prevalent as southern Maine residents awake on a Saturday morning. The heat wave is over though there is little rain in the forecast during the upcoming week. Saturday and Sunday high temperatures will top out in the mid-70s with overnight lows around 60F.

Today's ramblings will be on the brief side as I have an 8:00 AM appointment with my neighbor Rick to walk the back acreage. More on that in a moment.

 

November Whitman Baltimore Show is Canceled/To Be Relocated

An email arrived from the good folks at Whitman on Friday afternoon. The November Whitman Baltimore show has been canceled due to the inability to use the Baltimore Convention Center. Whitman has promised that the show will be relocated to another city and venue. The ANA made a similar statement when canceling the Chicago based World's Fair of Money show and failed to produce an alternative.

My gut feel is that Lori Kraft has an alternate venue in mind; Atlanta. The Whitman staff is headquartered in Atlanta and may be able to use the same convention facilities as the Spring ANA show. Let's continue to watch for a Whitman update.

 

Overwhelming Christmas In August Sale!

Best GFRC sale ever pretty much summarizes the current Christmas in August sale. It is clear that the U.S. coin market is healthy and booming as a result of most people staying close to home. People are either conducting home improvements projects or buying coins!

First day Christmas in August sales totaled $35,000 when adding all the discounted prices. This is a fantastic start with the sale in progress through Saturday and Sunday. I spent most of Friday at the laptop responding to orders and sending invoices. More purchase orders arrived after dinner keeping me in the office until well after 9:00 PM. I believe the term "overwhelming" best describes my Friday as I did not expect this level of purchasing activity.

Sales were broad based. Most consignors who participated have sold coins. Seal Beach leads the pack since discounting the remaining Seated halves from his collection divestment. Durham Eagle and others saw incremental sales.

Today brings some immediate Christmas in August sale shipments to those who have already cashed out and are on the GFRC Quick Ship program.

 

Maine Coastal Horizon View Thoroughly Enjoyed

While the Christmas in August sale was roaring along, Dave Wilkinson was working in the back acreage and produced a significant milestone.

I've waited for years to regain the coastal horizon view. Friday brought the clearing of several huge maple and birch trees that finally opened the horizon. By 3 PM, I could not longer concentrate on the Christmas in August sale as so thrilled with the uncovered view from the back deck. Following is an image of that view along with a comparison back to the August 11 baseline.

If you look closely at the top image, there is one massive maple tree on the left side of the horizon. That maple must be cut to further open the horizon. The issue is ownership of the tree and the reason for my 8:00 AM appointment with neighbor Rick. The tree is located at the back property line of Rick's parcel. The GFRC acreage continues behind Rick's parcel. Our property line is a second settler's stone wall that starts on my property and continues left as the border marking our land parcel ownership. Rick and I will walk through the brush and trees to inspect where this huge maple is located in terms of ownership. We both agree it must come down to expand the horizon view. Who pays for Dave's time to access and cut this monster maple is the question to be decided based on our findings.

 

Maine Coastal Horizon Revealed After a Week's Cutting

August 14 Mid Afternoon - Coastal Horizon View Thoroughly Enjoyed

August 11 End of Day Baseline

 

Afterwards, I must rush back to the GFRC office and get the morning shipping done!

 

Wrapping Up The Blog

Thank-you for checking in a the Blog and taking in the latest developments from the GFRC office and the back acreage.

Let's end this Blog edition here as I need to get properly dressed to walk through tall brush in a few minutes. Shorts and a T-shirt will give way to thick pants and a long sleeved shift.

As a reminder, the Christmas in August sale remains open through Sunday 9:00 PM. Saturday's are typically quiet during GFRC sales and the same pattern will not break my heart after the huge opening sales response. I need time to catch-up and work on the Lizard King's $2.5 gold consignment along with invoicing sale participants.

I look forward to seeing everyone on Sunday morning at the Blog. Be well and safe.

 

 

 

 

August 14, 2020

Red Hot Christmas In August Sale Launch

and

Baltimore Collection $5 Gold Offering is Near Sellout

plus

Lizard King Collection - Sweet Early $2.5 U.S. Gold Arrives

 

Greetings and welcome to the Blog on a beautiful Friday morning in Southern Maine.

The much needed cooling trend has arrived! Current temperature is a pleasant 65F with a cool breeze flowing through the office window.

Today's Blog will be brief due to multiple demands on my morning time. Dave Wilkinson's 8:30 AM arrival necessitates a strategy session before he begins work. We will be closing down the project shortly and will resume next year. Early response to the Christmas in August Sale has been above expectations leading to a host of orders that must be responded to. 10:00 AM brings a conference call with Matt Yamatin (in Tokyo) to review his GFRC E-Bid Auction software development status.

 

Red Hot Christmas In August Sale Launch

Wow! The Christmas in August Sale has lived up to its name. Santa Claus (Seal Beach) discounted the remaining CAC approved Liberty Seated halves much to the pleasure of the community collectors. There are multiple orders for these pieces. After posting the Blog, I will sort through the many orders based on email time stamp and will notify everyone of their available selections.

Initial Christmas in August Sales have been broad based. The 1866 PCGS MS63 Rattler Seated dime quickly found a new home after midnight. Other Seated dimes also sold given the number being available in the sale.

I'll provide a comprehensive sale status in Saturday's Blog. The sale is already over the $15,000 mark after tabulating a portion of the initial purchase requests.

 

Baltimore Collection $5 Gold Offering is Near Sellout

Congratulations go out to the Baltimore Collection consignor for his 90% first day debut sale accomplishment.

Thursday's focus, other than debugging the Christmas in August Sale price list, was finalizing pricing for the Baltimore Collection $5 U.S. gold lot and posting those to the price list. By mid afternoon, the lots were posted. Immediately, a new customer from Arizona called on the newly posted pieces. When the conversation ended, this kind gentleman had purchased seven of the ten offerings. He was excited about starting an early U.S. $5 gold collection and believed these pieces would be the ideal foundation.

Two other $5 pieces sold during the afternoon hours leading to a 90% debut sales rate. The Baltimore Collection joins the ranks of Seal Beach and Seated Appalachian for impressive debut sales.

 

GFRC Welcomes the Lizard King Collection Consignor

It seems that more individuals are discovering the GFRC website and business model without my having to spend resources on paper and digital advertising.

Fresh to the GFRC consignor list is the Lizard King Collection. I'm impressed with this collection name as it reminds me of Jim Morrison of the Doors.

The Lizard King launches his GFRC relationship with a sweet lot of U.S $2.5 gold that is illustrated next. The lot features several important Dahlonega branch mint offerings along with New Orleans and San Francisco minted pieces. Yes, I have asked the question concerning CAC submission. All of the following pieces have been submitted to CAC and did not sticker. Regardless, the GFRC community should pay close attention to this lot. The 1853 PCGS MS63, 1868-S PCGS AU55, and 1877-S PCGS MS63 offerings brings considerable eye appeal. I would have thought to submit these to CAC based on originality, coloring and overall eye appeal. I suspect these will not last long once reaching the price list.

Next steps are to formulate asking prices followed by consignor approval. I suspect these will reach the price list late in the day on Saturday or early Sunday.

 

Lizard King Collection - Sweet Early $2.5 U.S. Gold

1846-D/D PCGS EF45 G$2.5                                                       1847-D PCGS AU53 G$2.5

    

 1853  PCGS MS63 G$2.5                          1856-O PCGS AU53 G$2.5                           1862 PCGS AU53 G$2.5

            

 1868-S PCGS AU55 G$2.5                          1877-S PCGS MS63 G$2.5                           1887 PCGS MS62 G$2.5  

            

 

Global Financial News

Global markets are in a sour mood as Covid-19 recovery growth appears to be slowing. Investors had hoped for a V-shaped economic bounce. However, the rate of recovery is beginning to flatten ahead of expectations. The trading week closes with global equity market futures (courtesy of Seeking Alpha) being uniformly negative.

In Asia, Japan +0.2%. Hong Kong -0.2%. China -1.2%. India -1.1%.

In Europe, at midday, London -1.9%. Paris -1.8%. Frankfurt -1.2%.

Futures at 6:20, Dow -0.5%. S&P -0.4%. Nasdaq -0.2%.

China's economic recovery is questionable due to a host of factors. The Covid-19 pandemic will result in most multi-national companies relocating manufacturing facilities outside of the mainland.

Recovery loses some momentum. China's economy returned to growth in Q2 following a deep plunge at the start of the year, but unexpected weakness in domestic consumption has failed to shake off wariness about the coronavirus. Marking the seventh straight monthly drop, retail sales unexpectedly slipped 1.1% in July from a year ago, worse than a predicted 0.1% rise. Industrial output advanced 4.8%, missing analyst forecasts for 5.1% growth, suggesting the recovery in the world's second-largest economy is still fragile.

Spot gold pricing volatility has dampened with today's quote being $1955/oz. If gold can establish a solid multi-week trading range at the $1920 to $1970 level, my opinion of risk and future gains may change. Crude oil pricing is steady at $42.00/bbl while the 10 Year U.S. Treasury yield is flat at 0.7%.

This next Seeking Alpha headline, concerning the Federal Reserve experimenting with digital currencies, does not surprise me. Governments will not allow an independent Bitcoin currency to trade without controls. This is the nature of governments to administer the financial systems for taxation and stimulus.

Digital dollar? Fed Governor Lael Brainard gave some updates yesterday on the Fed's ongoing experimentation with central bank digital currencies (CBDCs). It has been conducting in-house experiments for the last few years, through means that include the Board's Technology Lab, Fed application developers and a collaboration with MIT. Studies are exploring the "implications of digital currencies on the payments ecosystem, monetary policy, financial stability, banking and finance, legal tender status and consumer protection."

 

Wrapping Up The Blog

I must end the Blog at this point. There is a need to head to the back acreage with a can of red paint to identify the last of the trees to be taken down by Dave. Afterwards, I need Dave to tidy up paths through the cut acreage to allow me to move freely with my John Deere tractor. There are many cords of firewood in 4' and 8' lengths that must be saw during October. I don't foresee the need to purchase firewood for at least five years or more with the onsite supply.

The back acreage project will resume next year with more realistic goals. Clearing the horizon will most likely take us into 2022 or beyond. It is important to allow time for the cut vegetation to recover and turn the landscape to a green coloring before we launch on another year's cutting effort.

The balance of the GFRC day will be focused on responding to Christmas in August Sales orders and getting out the daily shipping. During the past 48 hours, GFRC has experienced an issue with the USPS Click n' Ship online process. Our account had suffered a system error which precluded label payments via credit card or Paypal. We were dead in the water and worked with USPS Technical Support on Thursday to have this issue resolved. This morning brought a response that the system error had been cleared and we should be good to go.

Many thanks for being Daily Blog fans and supporting the GFRC business. I'll do my best to catch up on Christmas in August Sale orders during the next six hours.

See you Saturday morning at the Blog.