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Newtown's Ultimate Seated Half Dollar Online Auction - April 2021
Type Date Grade TPG Variety
Seated 50C 1840 Rev 1839 EF45
Seated 50C 1840 Rev 1839 EF45 PCGS
Seated 50C 1840-O VF35 PCGS WB-10
Seated 50C 1841-O Medium O VF30
Seated 50C 1842 Medium Date AU55 PCGS WB-14
Seated 50C 1843 EF40 PCGS WB-1
Seated 50C 1843 AU50 PCGS WB-1
Seated 50C 1843 EF45 PCGS WB-33
Seated 50C 1846 Medium Date AU58 PCGS WB-8
Seated 50C 1846 Tall Date AU50 PCGS WB-17
Seated 50C 1846 Tall Date AU55 PCGS WB-11
Seated 50C 1846-O Tall Date EF45 PCGS
Seated 50C 1847 EF45 PCGS WB-6
Seated 50C 1848-O AU53 PCGS WB-4
Seated 50C 1848-O VF30 PCGS WB-6R
Seated 50C 1849 MS62
Seated 50C 1849-O EF45 PCGS WB-15
Seated 50C 1856-O EF40 PCGS WB-17
Seated 50C 1857 AU50 PCGS WB-103
Seated 50C 1858-O AU53 PCGS WB-33
Seated 50C 1858 Type 2 Reverse EF45 PCGS WB-110
Seated 50C 1858-S AU58 NGC WB-1
Seated 50C 1859 AU55
Seated 50C 1859-O AU50 PCGS WB-9
Seated 50C 1859-S AU58 PCGS WB-6
Seated 50C 1860 AU53
Seated 50C 1860-S AU50 PCGS WB-2
Seated 50C 1861-S AU58
Seated 50C 1862-S EF40 PCGS WB-4
Seated 50C 1862-S AU50 PCGS WB-2
Seated 50C 1863 MS62 PCGS WB-101
Seated 50C 1864 AU53 PCGS WB-102
Seated 50C 1864-S VF30 PCGS WB-1
Seated 50C 1864-S EF45 PCGS WB-2
Seated 50C 1865-S AU50 PCGS WB-7
Seated 50C 1868 AU58
Seated 50C 1868-S AU55 PCGS WB-1
Seated 50C 1868 AU55
Seated 50C 1871-CC EF40
Seated 50C 1871-S AU53 PCGS WB-102
Seated 50C 1871 EF40 PCGS WB-103
Seated 50C 1873 No Arrows, Closed 3 AU50 PCGS WB-103
Seated 50C 1873-CC With Arrows EF40 PCGS WB-3
Seated 50C 1873-CC With Arrows AU55 PCGS WB-6
Seated 50C 1875 EF45 PCGS Unlisted
Seated 50C 1876 VF35 PCGS WB-102
Seated 50C 1876-CC VF25 PCGS WB-15
Seated 50C 1877-S AU55 PCGS WB-14
Seated 50C 1877-CC AU58
Seated 50C 1877-CC AU50 PCGS WB-4
Seated 50C 1880 MS64
Seated 50C 1890 MS65 PCGS WB-101

Gerry's Daily Blog

Featured Coins of the Day

1838 GR-13 PCGS MS62 CAC 50C

1894 PCGS EF40 CAC $1

1897 PCGS MS64+ CAC G$2.5
Oregon Beaver $1250

1857-O NGC AU58 CAC G$2.5

1857-S PCGS AU55 CAC G$2.5

1893 NGC MS64 CAC G$5



April 15, 2021

A Blank Sheet of Paper Thursday


FedEx Called



Greetings on a Thursday morning and the traditional tax deadline filing day. Thanks for stopping by.

The day's headline says it clearly, a blank sheet of paper. There are no prepared topics for today's Blog along with a deficit with respect to morning creativity. Therefore today's edition will be very brief given a lack of worthy topics.

Based on GFRC's order rate, it appears that 2021 will be a more "normal" year in terms of the annual hobby cycle. The past week's order rate has dropped on a seasonal basis. Gone are trips to the post office with 10-12 daily outgoing shipments. This week's shipment rate is roughly half. One factor might be the need to operate GFRC on a solo basis and the lack of time to process and load new offerings to the price list. Therefore a short Blog and minimal shipping will allow me to complete the Newtown Collection's Ultimate Seated Half Dollar Set Sale gallery and have finalized for Friday's Blog edition.

Dan White dropped by on Wednesday for camaraderie and the sharing of a small glass of Casamigos tequila. We stood back and analyzed the current U.S. market and GFRC's positioning. One conclusion is apparent. The U.S. coin show circuit is returning soon. We believe the Summer FUN show will take place and are positioned to attend with a corner table and hotel reservations. We also believe the Chicago ANA World's Fair of Money show will be held. National coin shows will be yet another signal that the economy is recovering from the Covid-19 pandemic. There could see huge attendance rates and robust sales as stock market and Bitcoin gains migrate into rare coins. I'm incredibly optimistic for the Fall Whitman Baltimore show.


FedEx Called

Wednesday lunch time brought a phone call from the Herndon, Virgina FedEx office.

Unfortunately, the GPS tracking information for the carrier that "delivered" the 1854-O NGC MS62 Seated quarter to a client's address at 7:03 PM is not available. FedEx is unable to confirm the location of the carrier at that time. Rather than ask if the lack of GPS data was typical or an anomaly, I decided to trust FedEx Security in the handling of this issue. The next step is FedEx Security conducting a phone interview with the intended "recipient" of the GFRC package.

I called the GFRC customer and he is ready to speak with FedEx Security. His affidavits was previously shared as part of my email to Fred Smith, FedEx CEO. There should be no surprises, rather a confirmation of no delivery attempt by the FedEx carrier.


Global Financial News

U.S. equity markets consolidated at records levels on Wednesday. Morning market futures indicate an upbeat opening at 9:30 AM.

In Asia, Japan +0.1%. Hong Kong -0.4%. China -0.5%. India +0.6%.

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

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


Let's talk about paper gold prices for a moment. Dan and I believe that paper gold has bottomed out at the $1680 level. Physical gold is trading at a strong premium to the underlying paper market. Comex does not settle trades with physical and has regulations that discourage any traders making such a request.

Once on a bourse floor, GFRC plans to be an aggressive buyer of $20 double eagles as we believe the physical market is consolidating at current levels and will move upward in the next several years. There is an abundance of monies in the financial system. Even though gold may be seen as "a relic", there will still be sufficient demand to support a stocking inventory. If there is a correction in Bitcoin, those with moderate physical gold holdings will be on the safe side of the trade.

Gold morning quote is $1748/oz.

Crude oil pricing has increased to $62.70/bbl and Bitcoin is trading at $62,311. The 10 Year U.S. Treasury yield has dropped to 1.62%


Wrapping Up The Blog

Yes, today is an office day with image processing being the priority. I can guarantee that the Newtown Collection's image gallery will be completed and published as a Friday Blog preview before heading to bed.

Thanks for stopping by at the Blog. Please feel free to order any coin on the GFRC price list as operators are manning the phone lines.

Take care and wishing for a great day in the numismatic neighborhood.




April 14, 2021

Under Construction - Newtown's Ultimate Liberty Seated Half Dollar Sale Gallery

Tired of Quality CAC U.S. Gold? I Hope Not!


CoinWeek Features Burrowing Owl's Gem 1823 Capped Bust Half and GFRC Auctions


Greetings and welcome to another early morning Daily Blog session. Thank-you for making these ramblings a part of a day.

The Venice Boys Club continues its daily routines. Buddy is well fed and enjoys hanging out on the coach along with twice daily walks. The larger member of the Club is taking sales orders, shipping coins, and working through new purchases and consignments. Just yesterday, a super nice 20 piece consignment arrived from the Copper Harbor Collection. Nearly all are recently upgraded duplicate Liberty Seated dimes that were mostly purchased from GFRC. Look for these on the price after the Newtown Collection Ultimate Set gallery is wrapped up.

Maine back acreage project planning continues with back and forth text messaging with Dave Wilkinson. Dave and his excavator (with new rubber tracks) are scheduled for more trail cutting during the first half of June. It should become apparent to the readership that my mind is moving towards the Maine homestead prior to the physical move. After spending nearly five plus months living and working in a small condo office, I'm ready for a breakout into the grand Maine woods.

Crickets from the Herndon, VA FedEx manager on Tuesday. Let's hope for a progress report today.

Today's Blog should be visually enjoyable given the balance between Liberty Seated halves and U.S. gold. Let's get on with the primary segments.


Under Construction - Newtown's Ultimate Liberty Seated Half Dollar Sale Gallery

The many Liberty Seated Half Dollar collectors in the GFRC community may wish to start viewing an important consignment from the Newtown Collection. The consignment totals 52 pieces with a broad range of date, grades, and CAC green beans. Attempting a Liberty Seated Half Dollar Ultimate set is not for the casual collector. Most collectors move through a typical progression. First comes early silver coinage exploration through type set construction. Next is the decision to focus on a single denomination with a complete date and mint mark set goal. For those who have accomplished a complete set, there are two potential paths. First is upgrading a complete set to a higher level average grade. Second is a fascination with die varieties. Top 100 and Ultimate sets provide the road-map for taking a passion to the highest possible level of knowledge and competence

The following Bill Bugert commentary is taking directly from the first generation Open Set Registry launched during 2005. As part of the release of The Definitive Resource for Liberty Seated Dime Variety Collectors on line reference during 2004, an Open Set Registry was added. After I defined Top 100 and Ultimate Sets for the Liberty Seated dime denomination, Bill Bugert took on the challenge of defining the same for Liberty Seated halves. As part of that noteworthy undertaking, Bill wrote this introduction concerning the various collecting options.

The following registry sets are an extract of information on Liberty Seated Half Dollar die varieties that literally took decades of cooperative research and collecting efforts between my good friend and numismatic colleague, Randy Wiley, and me, Bill Bugert. Any or all of the three sets, ranging from a basic date/mint set to a lengthy and nearly impossible Ultimate die variety set, can be chosen as a collecting goal. Financial resources, patience, deciding on a reasonable grade for your collection, and available time will most likely influence the goal you chose. Once you make up your mind, I believe you will experience countless hours of enjoyment with these beautiful coins.

I am sure some will challenged me as to why I included some varieties and not others or why I chose to make The Ultimate Variety Set so difficult. Answers can be flushed out in time but I wanted to present a genuine challenge regardless of your interest in Liberty Seated Half Dollars. I think I accomplished that. Here are the three sets.

The Basic Strikes Set lists the date and mint set for the half dollar series – 112 coins. The stopper is the 1878-S but a collector can also be financially challenged by the later date 1850s-P mints, 1855-S, and most of the CC’s. Completing a Basic Set is a major accomplishment and the goal of many half dollar collectors.

The Ultimate Variety Set includes 318 of the most desirable half dollar varieties currently known to exist. This list is about ¼ of the die marriages known to Randy Wiley and myself. The other die marriages, in my mind, may not be less significant but may be less readily identifiable. For example, the remaining marriages encompass minor mint mark or date placement variations, less significant date or mint mark recuttings, die lines and gouges resulting of minor die maintenance, and the like. Assembling this Ultimate Variety Set can be a lifelong goal limited by the 1853-O NA for which there are three known to exist. Many other varieties are prohibitively rare but possibly obtainable (e.g., 1842 SDSL). If anything, this list gives the reader a lengthy list of the major varieties that can be used as a checklist for coin show bourse or internet searches. My hat is off to anyone who can complete this set.

The Top 100 Varieties is the intermediate step for the advanced collector as it is not as impossible as the The Ultimate Variety Set. It adds the most important varieties to the Business Strike Set. For identification, The Complete Guide to Liberty Seated Half Dollars has photographs of many of these varieties. Various issues of The Gobrecht Journal depict others. Many of these are much less available than commonly thought and, therefore, will be a challenging set to complete.

Good luck on your search. Whatever your collecting goal may be, I, and others, look forward to seeing the results of your efforts.

Bill Bugert, September 6, 2007


Following are the first 13 offerings from the Newtown Ultimate Set Collection. This gallery will be "under construction" during the next 48 hours. Please feel free to check back at the Blog to view the latest additions. The gallery will be continually moved to the current day's ramblings to facilitate easy viewing.


Newtown's Ultimate Liberty Seated Half Dollar Sale Gallery

Under Construction

         1868 PCGS AU58 CAC 50C                                          1871-CC WB-1 PCGS EF40 CAC 50C

 Ultimate Set #199                                                                                               Ultimate Set #221


1873-CC Arrows WB-6 PCGS AU55 50C                                                1890 PCGS MS65 50C           

 Ultimate Set #245                                                                                               Ultimate Set #317


 1840 WB-5 PCGS EF45 CAC 50C                      1840 WB-1 PCGS EF45 50C                    1840-O WB-10 PCGS VF35 50C

 Ultimate Set #3                                                       Ultimate Set #4                                                        Ultimate Set #11


 1841-O WB-3 PCGS VF30 CAC 50C                      1842 WB-14 PCGS AU55 50C                    1843 WB-33 PCGS VF35 50C

 Ultimate Set #16                                                   Ultimate Set #22                                                      Ultimate Set #28


1843 WB-1 PCGS AU50 50C                      1843 WB-x PCGS EF40 50C                    1846 WB-8 PCGS AU58 50C

 Ultimate Set #31                                                   Ultimate Set #32                                                      Ultimate Set #53



Tired of Quality CAC U.S. Gold? I Hope Not!

More excellent CAC approved U.S. gold has found its way into the GFRC office. How did that happen?

You are invited to view and enjoy four more lovely additions to the U.S. gold price list that will appear on the price list during the afternoon hours. We start the display with a fantastic 1874 PCGS AU58 CAC $3 gold piece with rich orange-rose patina overlying a base greenish-gold backdrop. This 1874 date $3 gold piece would be ideal for a type set. Next is an 1847 $5 gold piece with partially mirrored fields and a vertically cracked reverse die. The 1880-CC $5 gold piece brings visions of the Wild West and the transcontinental railroad.


Another Round of CAC Approved U.S. Gold

1874 PCGS AU58 CAC G$3                                                         1847 PCGS MS62 CAC G$5


1880-CC PCGS AU55 CAC G$5                                                   1901 PCGS MS63 CAC G$10   



CoinWeek Features Burrowing Owl's Gem 1823 Capped Bust Half and GFRC Auctions

My favorite wholesale dealer was the first to note the CoinWeek posting of Len Augsburger's Burrowing Owl auction sale press release. The most capable staff at CoinWeek worked their publishing magic and created a first class presentation.

Please feel free to click on the following screen capture to view most of the article. The entire article is available for viewing at the link above the graphic.




Global Financial News

Coinbase makes its market debut today. What is Coinbase? Coinbase is a digital trading platform for cryptocurrencies. One can set up an account and trade Bitcoin, Ethereum, Bitcoin Cash, etc. The debut is essentially a market IPO. Can you believe that Coinbase will debut at a market value of $250/share with company valuation at $66.5B.

The Coinbase debut has pushed Bitcoin pricing to the $64,000-$65,000 level.

Following is a complete Seeking Alpha article concerning the Coinbase debut and how crytocurrencies are being viewed. Bottom line is that cryptocurrency markets are exploding in valuation as compared to traditional equities. Please take to the time to read this entire article to formulate your own opinion on the state of digital asset investing.

The market is anticipating the direct listing (not technically an IPO) of Coinbase today as cryptocurrencies continue to gain traction. Bitcoin, rising 5%, is approaching $65K, while Ethereum is up 10%, nearing $2,400.

NASDAQ and Goldman Sachs set a reference price of $250 per share for Coinbase's direct listing. That puts the valuation of Coinbase at $66.5B.

COIN wrote in a news release that as of Monday, it had 130.7M Class A shares and 68.5M Class B ones outstanding, or 261.3M in total when shares are measured on a fully diluted basis. The company wrote that the 261.3M figure includes all Class A and B shares, plus all outstanding stock options and restricted stock units. The number only excludes shares reserved for future issuance under Coinbase’s equity compensation plans, as well as stock set aside for COIN's "Pledge 1%" charitable commitment.

"Today’s listing is a milestone, but it’s not as important as every new day in front of us," CEO and co-founder Brian Armstrong writes in a blog today. "Coinbase has an ambitious mission: to increase economic freedom in the world. Everyone deserves access to financial services that can help them build a better life for themselves and their families. We have a lot of hard work to do to make this a reality."

Bubble worries: Bank of America's latest fund manager survey indicates an overwhelming contention that Bitcoin is in a bubble. 74% of those surveyed say the crypto is now in a bubble, compared with just 7% who see equities in a bubble (most think stocks are in a late-stage bull market). Bitcoin was considered the second-most crowded trade behind long tech, according to respondents. But how Coinbase trades could be a big indication not just of Wall Street's acceptance of crypto, but of broader market sentiment.

Morgan Stanley says "the under performance in IPOs and SPACs is a signal that the excessive liquidity provided by the Fed is finally being overwhelmed by supply." "My experience is that when new issues underperformed this much, it’s generally a leading indicator that equity markets will struggle more broadly," chief equity strategist Michael Wilson writes. "When combined with the fact that leverage in the system is very high, it could spell more trouble for riskier, more speculative investments." But DataTrek Research contends that the interest in cryptos could be problematic to the broader market.

Crypto, NFTs, SPACs and recent IPOs "can do well without the S&P seeing any benefit since correlations typically remain low during the middle part of an economic recovery. In fact, capital may leave US stock indices looking for greener pastures elsewhere."

Digging down into the Coinbase listing: Coinbase will start trading on the Nasdaq under the ticker symbol “COIN,” either right when markets open at 9:30 a.m. ET or sometime thereafter. Certain pre-IPO investors will make as many as 114.85M shares available to the public. Coinbase operates a popular trading platform for Bitcoin and other cryptocurrencies, and also offers services like hosting crypto buyers’ digital “wallets,” which store their holdings. Many see the company’s go-public move as a coming-of-age moment for the crypto industry.

My concern is simple. If the crytocurrency market bubble does burst, the event may have enormous repercussions across all equity markets. Memories of the 2000 tech crash are still with me. At that time, internet start-ups with no revenue were receiving outlandish valuations and share prices. Here we have a digital asset trading platform with an IPO valuation of $66.5B. If hedge funds move capital into digital assets, their downside exposure expands in the event of a substantial Bitcoin correction. The sell-off will impact traditional equities.

Wednesday morning market futures are consistently positive.

In Asia, Japan -0.4%. Hong Kong +1.4%. China +0.6%. India closed.

In Europe, at midday, London +0.2%. Paris +0.4%. Frankfurt +0.1%.

Futures at 6:20, Dow +0.02%. S&P +0.1%. NASDAQ +0.2%.

Crude oil has bumped up to $61.17/bbl. Paper gold is quoting at $1744/oz. The 10 Year U.S. Treasury bond yield is essentially flat at 1.64%


Wrapping Up The Blog

Today's Blog content has been quite substantial. Please don't get too spoiled as this presentation is atypically long in content. Come the May time-frame, we may see a few "Blog sick days" as time is taken away from numismatics to pursue a different passion.

I'm out of things to type and best to execute the Dreamweaver spell checker followed by an upload.

I hope that you've enjoyed today's edition. Thanks again for stopping by.




April 13, 2021

Superb $20 Double Eagle U.S. Gold - Hound Dog Dan New Purchases


Guess Who Called on Monday?


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

The countdown is on for the northern migration. While the day to day focus remains on the GFRC business, my mind is drifting to the many projects for the coming summer. There are ambitious goals for homestead landscaping improvements and the construction of a full loop trail in the back 20 acres. Like any substantial project, careful planning is required due to a host of dependencies. For example, since there is no access road for the back acreage, the transport of incoming surface gravel and export of cut logs must be accomplished through an opening in the settler's stone wall, across the back lawn, and upward to a new property exit point. That property exit point has been defined and will be the first John Deere 2025R enabled project. I will be cutting a secondary property entrance at the top most point of the land abutting Valley Rd. This area is quite steep and will be backfilled and shaped for pickup truck/trailer access. Moving trail surfacing materials into the back acreage will be accomplished via this access point. The materials will be dumped there and transported down to the trails by a 22 cu. ft Polar dump cart hitched to the JD2025R tractor.

The summer of 2021 will be a gold mine for Blog images as each project phase is executed. For example, I contacted Dave Wilkinson last evening to determine if his excavator is available during the first half of June. Dave primary tasks will be cutting the northeast trail through fairly thick forest and opening up the two natural springs. If all goes to plan, the first spring will become a goldfish pond, hopefully without natural predators. This will be an interesting experiment.

Yes, I recognize that the community visits the Blog for their morning numismatic update. So let's get on with new coins and GFRC business news.


Superb $20 Double Eagle U.S. Gold - Hound Dog Dan New Purchases

I believe the time has home to supplant the "Osprey Collection" with "Hound Dog Dan" as acknowledgment of Dan White unrelenting efforts to locate incremental GFRC inventory. Since I'm fully consumed with operations, securing consignments, and managing the GFRC Online Auctions platform, there is zero time in a day to search for new purchases that matches the GFRC product profile.

"Hound Dog Dan" is searching through U.S., Europe, and Asian auctions houses and dealers towards locating fresh offerings. I'm pleased to be showcasing three wonderful $20 double eagles that will be placed on the price list during the afternoon hours. Dan has done well here.

We open with an important 1880-S Liberty double eagle. Sure, in AU grades, the date is mostly valued as bullion. All changes in Mint State as populations quickly thin out at the MS62 level with the date being a rarity in MS63 or better. Beautiful best describes the 1915-S gem St. Gaudens. Perfection best describes an amazing 1924 Saint that is accurately graded PCGS MS66 in an old green holder with CAC approval. This is one of the first MS66 Saints to be handled by GFRC. The intense luster and completely unabraded surfaces could become addicting.

First Rights of Refusal are welcomed but please note that these pieces will not be inexpensive.


Superb $20 Double Eagle U.S. Gold - Hound Dog Dan New Purchases

1880-S PCGS MS62 G$20

         1915-S PCGS MS65 G$20                                                      1924 PCGS MS66 CAC OGH G$20



Guess Who Called on Monday?

Monday morning brought a wished for outcome that negated the need to call the FedEx Customer Support Center for the umpteenth time.

Last Friday, a personal email was sent to Fred Smith, FedEx CEO with a plea from a small business owner for help. In that email, a copy/paste of the Daily Blog's Tales From the FedEx Customer Support Center commentary was shared with Mr. Smith (surely one of his staff people). I explained my professional background and the dilemma being faced by a retired semiconductor executive turned small business owner.

Slightly before noon on Monday, a phone call arrived from the FedEx manager of the Herndon, VA office. He apologized on behalf of the FedEx company and admitted that my treatment was unacceptable and would be rectified. Being one that wants to get issues closed, I asked that the GPS records for the FedEx carrier's movements on March 17 be checked. What was the carrier's physical location at 7:03 PM when he/she signed C19 on the delivery pad? That piece of information will go a long way to unraveling the disappearance of the 1854-O NGC MS62 Seated quarter package. The manager agreed and indicated that FedEx Security could do this. He requested my patience as he personally investigated the matter and would bring in FedEx Security to support the effort.

Yes, I felt relieved that finally, someone at FedEx was stepping up and taking on the case. Sadly, it took nearly a month to garner attention and an email to a CEO.

Findings and updates will continue to be posted in the Blog.


What's Going On in the GFRC Office Today?

Of course morning shipping always has the top priority as customers enjoy having a quick turnaround on their orders. Interestingly, I am receiving emails that USPS transport speeds have improved which is great news.

The afternoon will be 100% dedicated to Newtown Collection's Ultimate Liberty Seated Half Dollar Sale image processing. Yesterday afternoon brought the balance of the photography and initial processing of the remaining coins. Today sees the finalized image preparations and the creation of a separate Newtown Collection image gallery page for Len Augsburger's authoritative descriptions. I will share a link to the same Newtown gallery page to allow Blog readers to monitor the progress and secure a preview of the forthcoming auctions lot.


Global Financial News

Thought Monday's morning market futures predicted an up day, U.S. equity markets wrapping up trading mostly flat and still at near record levels. This is a positive development as consolidation is an important aspect of a healthy market. Any asset or market that moves up like a rocket should be suspect and could eventually succumb to the effects of gravity. Well almost, there is Bitcoin that starts the day at a $62,624 quote.

Interestingly, the Chinese government has launched the digital Yuan as an answer to Bitcoin. Bitcoin in banned in China while Beijing develops its own alternative with a host of oversight and monitoring capabilities as any good communist regime should do. China is the ideal country to attempt a digital currency since the largest paper bill, the 100 Yuan, is equivalent to US $15. Chinese citizens are not big on credit cards either. Instead, they use WeChatPay and AliPay with their cellphones for most day to day expenditures.

However, if one connects the dots a few years out, a digital Yuan infrastructure could bring about wider usage of the "currency" with trading partners in Asia and the Middle East. It is well known that China and Russia are developing an alternative to the SWIFT (Society for Worldwide Interbank Financial Telecommunications) system for international transfer of monies. The U.S. employs the SWIFT system as a primary "sanctions" instrument for those countries out of favor with the U.S.

Following are morning market futures to consider. The numbers suggest a flat day for U.S. equities but one never knows.

In Asia, Japan +0.72%. Hong Kong +0.3%. China -0.5%. India +1.5%.

In Europe, at midday, London -0.1%. Paris +0.4%. Frankfurt +0.4%.

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

Crude oil stands at $60.32/bbl. Paper gold is trading at $1727/oz while physical gold will cost you an additional $200 premium. The 10 Year U.S. Treasury bond yields stands at 1.69% with mounting inflation worries surfacing as the U.S. economy continues to recover form the Covid-19 pandemic.


Wrapping Up The Blog

Yes, it is time for Buddy the Dog to head outdoors followed by a shower and the usual overnight order responses followed by packing and shipping. Not much changes on a day to day basis.

Thanks again for stopping by at the Blog.




April 12, 2021

Newton Collection's Ultimate Liberty Seated Half Dollar Sale Schedule


Planning the Northern Migration


Greetings and welcome to another Blog edition . A Monday morning is upon us.

The middle of April is just a few days away. The second half of April will become progressively busier as the northern migration quickly approaches. There is Diane's return from Austin, a second round of Moderna shots, and staging the GFRC business for transport back to Maine. Once back at the Maine homestead, there will be the annual landscaping clean-up tasks. Even though the JD2025R will be promptly delivered, the older John Deere D130 tractor will still be the workhorse vehicle for lawn mowing and small jobs. There will be no rush to drive a one ton tractor across newly planted grass in the back yard.

The GFRC order rate has softened a bit during the past five days which is a good thing. Spring time weather arriving along with many individuals being vaccinated should lead to less dependence on hobbies to pass the time. Sadly, we must endure another Covid-19 spike as local economies begin to open. Here in Florida, the spike is apparent with case levels climbing by 30% in just a few weeks. Sadly, the death rate has also shown an up-tick.

Today's priority is shipping and lots of it. The last of the Burrowing Owl Auction sale items will be leaving the office for new homes.


Newtown Collection's Ultimate Liberty Seated Half Dollar Sale Schedule

Much of Sunday was spent processing images for the upcoming Newtown Collection's Ultimate Liberty Seated Half Dollar Sale. The sale will include over 50 Liberty Seated halves with dates ranging from 1840 through 1890. Nearly all offerings are in the VF30 through AU55 grade range; the sweet spot for most collectors of the series.

The Newtown sale will have offerings for a broad range of collectors. Though the collection was assembled as an "Ultimate Die Variety" set project, the individual lots will nicely populate other collecting objectives. Liberty Seated halves continue to be GFRC's top selling Seated coinage denomination. The availability of an incremental 50+ pieces at prime collector grades will certainly draw much attention.

Blog tradition dictates that I post a screen capture of the Newtown image processing project as the second sale teaser. The first was the listing of the collection offerings in the scrollable Daily Blog table (top right). The following screen capture illustrates Sunday's progress with images having been cropped. Next step include color optimization, the removal of holder scratches, and the final sharpening round.

Not shown are the coins purchased from GFRC where the prior images will be utilized. Newtown also added an incremental shipment to the auction. Those halves must still be photographed and added to the final outcome.


Newtown Collection's Ultimate Liberty Seated Half Dollar Sale - Image Processing Status


A review of the images should suggest that natural coin gray toning will be consistent during the upcoming sale. Newtown was most selective with his purchases and ensured that the project was populated with strictly original halves.

Newly defined is the the schedule for the Newtown Collection's Ultimate Liberty Seated Half Dollar Sale. The schedule comprehends the closing down of the GFRC Venice office and northern road trip along with Maine office start-up.

April 24 - Newtown's Ultimate Seated Half Dollar Sale online catalog is published.

May 1 - Auction sale opens for bidding

May 8 - Auction sale finale and closing

May 9 - Winning bidders will receive their invoices

May 10-11 - Courtesy Quick Ships packaged and shipped.

Please look for the online construction of the Newtown Ultimate Set gallery during this week's upcoming Blog editions.


Planning the Northern Migration

Twice per year, the GFRC office migration requires concise planning to ensure that order shipments stay uninterrupted. Since the business is primarily check payment based, the mailing of payments to the appropriate office address must be well coordinated. USPS appears to be operating on a more consistent basis thought mail forwarding still appears to be problematic. My goal is to not have a single customer payment caught in the USPS forwarding loop.

Following is the initial draft schedule for the forthcoming office move. I'm being conservative this time around due to USPS delivery variability. This schedule may be subject to change. Changes will be promptly communicated during the next two week.

Saturday April 24 - Final day for mailing check payments to the Venice office address

Monday April 26 thru Wednesday April 28 - No check payments are to be mailed please

Wednesday April 28 - GFRC's website and Collectors Corner listing updated to Maine office mailing address

Thursday April 29 - Check payments begin mailing to Maine office address

May 3 - GFRC Maine office is open for limited business

It is recognized that the twice annual office migration is a pain in the butt for clients. I will do my best to direct payments to the correct office location during the invoicing process.


Global Financial News

Is "this time different" with respect to digital assets and crytocurrencies? That my friends is the million dollar question for investors.

Bitcoin has breeched the $60,000 level. NFTs can be found on the Heritage Auctions website. Stock markets appear to only move upward. Every investor must consider risks and take the plunge if believing that large corporations and the Federal Reserve can continue to support equity markets and the emerging digital asset wave. I was certainly wrong on Bitcoin...

U.S. equity market futures suggest another upbeat day after Jerome Powell's favorable assessment of the U.S. economic for the balance of 2021.

In Asia, Japan -0.8%. Hong Kong -1%. China -1.1%. India -3.4%.

In Europe, at midday, London -0.6%. Paris -0.1%. Frankfurt +0.1%.

Futures at 6:20, Dow +0.7%. S&P +0.6%. NASDAQ +0.5%.

Crude oil, gold and the 10 Year U.S. Treasury bond yield remain range bound. There is little to discuss.


Wrapping Up The Blog

The morning office hours will be solely focused on packing and shipping orders. Come early afternoon, I will be once again working on the Newtown Collection images and handling arriving orders.

Let's end at this point as Buddy is waiting for his morning relief.

Thank-you for checking in at the Blog.




April 11, 2021

1839 Pie Shattered Obverse Sells on eBay


The Art of Upgrading a Liberty Seated Dime Collection


Greetings on a Sunday morning and welcome to another day in the GFRC numismatic neighborhood.

I'm feeling quite relaxed after a tumultuous week in the office along with caring for Buddy the Dog. The numismatic market continues to be robust with a constant order stream. Fresh inventory is arriving with many pieces having a short tenure on the price list. As much as I try, ramping the 30 Day Price List to that magical 100 piece level has become nearly impossible. New offerings are selling promptly upon being loaded. The upside is a growing Sales Archive population that enables collectors and other dealers to accurately assess pricing levels for premium coins. The COIN database will soon break through the 16,000 listings milestone. Sure, this figure pales as compared to other more prominent dealers but who else provides easily accessible historical sales information with die variety attributions and well prepared descriptions? GFRC is about transparency and collector education as an operating creed.

Since Saturday's focus was exclusively price list loading, there are no prepared galleries to share. Instead, I wish to discuss two topics that might be of interest.


1839 Pie Shattered Obverse Sells on eBay

During the early Saturday afternoon hours, two community members sent a notice that a raw 1839 Pie Shattered Obverse die had been listed on eBay with the closing time approaching soon. The listing was not difficult to locate given a $740 bid level for a low grade dime with rim issues. I carefully studied the piece and made a decision to executes bids that would bring about a fair selling price since I was not that keen on winning and stocking the coin. Following is the obverse image. The rim issues are more severe on the reverse.

Impaired 1839 F-105c Pie Shattered Obverse 10c


After placing a tracking bid, a bit of research was conducted on what would be a fair price for this impaired example. During 2013, and not listed in the Sales Archive, GFRC had sold a solidly original AG03 example for $2650. That become my bidding reference point as full retail value of this piece is probably a bit under $2000. I placed a $1550 bid to ensure that the selling price would be near that level. This resulted in a closing price of $1625.

If this example did not have the significant rim issues, I would have easily bid well above $2000 to secure for the price list.

Congrats to the person who ultimately won the piece. I'm curious to see if it will circle back and be offered or consigned to GFRC.


The Art of Upgrading a Liberty Seated Dime Collection

On a different topic, several close numismatic friends have made me aware of a group of high grade Liberty Seated dimes being available on the Doug Winter website. Doug is selling some awesome pieces listed as the Old West Silver. One of the unsold offerings is a gorgeous 1878-CC dime graded PCGS MS66 with CAC approval. In particular, Dan White has been suggesting that I add the piece to my core date and mint mark set collection. During a recent office visit, Dan and I discussed why there was no motivation to execute the upgrade. Sure, I could pull the trigger tomorrow if I wished. Following is the discussion that ensued with Dan.

Images courtesy of Doug Winter

1878 Carson City struck dimes are a complicated lot. There are four die pairings conducted with four different reverse dies. The 1876 through 1878 time frame brought the transition from Type 1 reverse design to the Type 2 reverse. The two reverse designs can be easily distinguished by looking at the lower left ribbon end. If the ribbon end has two points, it is a Type 1. Conversely, a single point indicates Type 2.

Nearly all high grade Mint States 1878-CC dimes will be found struck from the lone Type 1 reverse. This die pairing comes with moderately PL fields and consistent obverse and reverse strikes. Those conditions enable specimens to certify at the higher Mint State grades. As a result, the Type 1 F-101s are not difficult to locate if someone wishes to pay the price.

A tiny fraction of the surviving 1878-CC dimes in high grade Mint State will be found with a Type 2 reverse. Why is this the case? A good question that leads to the explanation given to Dan White while hanging out in the office.

The three Type 2 reverse dies were left over from 1877. All three reverse dies were lapped resulting in a substantial loss of reverse details. Those die varieties are listed in the web-book as F-102 through F-104. The F-104 reverse saw the most aggressive die lapping with the complete loss of the lower left devices. Furthermore, the F-104 reverse die quickly cracks with a circular die break through the wreath.

For circulated Type 2 reverse dimes, there is typically a two full grade difference between the obverse and reverse. In other words, a circulated example with a Very Fine obverse will have Very Good reverse details.

The current 1878-CC dime in the Gerry Fortin core Liberty Seated dime set is an F-104 graded PCGS MS64 CAC and resides in an Old Green Holder. I love this coin to death for its Mint State rarity and historical significance. The piece was purchased during August 2001 for $1560 on eBay. Imagine that! Following are some terrible images taken in the mid 2000 time frame for the PCGS Set Registry display.


This F-104 dime is much rarer at the current certified MS64 grade level as compared to the F-101 Type 1 Reverse examples that regularly come to market at the MS65 and MS66 grade levels. If I had wished to upgrade my example for Registry Set numerical value standing, the upgrade would have taken place years ago at less than the current five figure asking price.

Bottom line, a PCGS assigned numerical grade is not the end all to collecting. The coin itself is what we collect. In my case, I am in love with this MS64 F-104 example and can't bring myself to conduct an upgrade. Why would I? This MS64 F-104 might be the finest known for the variety and has kept me company for two decades. There are much more important upgrade needs in the coming years.


Wrapping Up The Blog

We are past the 8:00 AM Blog publishing time. Buddy the Dog is looking at me with a pained look which means I had better get going with the morning poop run.

Today brings a relaxed day in the GFRC office. I will be working on a host of projects and posting a few more items to the price list.

Thanks for checking in at the Blog.




April 10, 2021

Len Augsburger's Perspective on NFTs


Another Round of Great New GFRC Purchases


Greetings and welcome to the Daily Blog on a Saturday morning. Thanks for staying abreast of GFRC happenings.

On the lighter side of things (especially after yesterday's FedEx piece), evening Buddy the Dog walks have become hilarious. There is an abundance of rabbits in the Auburn Lakes HOA complex that come out at dusk to graze on lawn grass. The rabbits have become accustomed to people and dogs. During the past few evenings walks, Buddy has made a sport of stalking rabbits to the point of moving within 6" of their location. I've never considered Buddy as a pointer or stalking dog. However, he has innate instincts to carefully stalk a rabbit and approach within inches. Each evening has become a stalking past time for Buddy. He certainly appears to be in a great mood during the daytime hours.

After publishing Friday morning's Blog, which highlighted the current FedEx challenge for recovery of a lost $1800 Liberty Seated quarter, three community members sent identical feedback. They advised that a copy of my Blog posts be sent to FedEx CEO Fred Smith with a request for aid for resolving the issue. This I did via email last evening and hope the document does not end up in a Junk folder. Of course, the long email was professionally written with the goal of sharing the plight of an average guy and the challenges of dealing with internal FedEx customer support. Let's see if anything comes of the email during the coming week. If the sage continues without end, I will sent a paper letter with the same content.

An apology goes out to GFRC clients who have become accustomed to Quick Ship service. With the GFRC staffing down to one person, I've carefully allocated my waking hours to all GFRC tasks that need to get done. The implementation of that strategy is executed on an hourly basis. Three hours are allocated each day for packing, shipping, transport, and check deposits. On certain days, the number of paid for and potential Quick Ships is beyond the allocated time. A reasonable decision is to give shipment priorities to those paid for purchases via check arrivals and Paypal. if there is sufficient time, I will process Quick Ships. Once Diane is back in the office, there will be incremental time to restore Quick Ship courtesy.


Len Augsburger's Perspective on NFTs

Len just could not hold back his perspective on the emerging NFT craze that is the latest block chain innovation. The basis for valuing NFTs is explored including viewing the digital assets as collectibles. Len's tenure with Heritage Auction enables a credible exploration of the potential NFT resale market.

We don’t want to stray too far from numismatics, but the recent NFT sales demand attention, from a collectibles perspective if nothing else. My first reaction was that all involved were lunatics, but it’s useful to think more deeply about this. Let’s start with digital assets. I think we can all agree that such assets clearly have monetary value. Heritage locked up the domain name ha.com early on, and this acquisition is actually a signal achievement in recently numismatic history, which serves to mark the transition into on line numismatics. In any case, the Heritage domain name by itself is a valuable asset, and any two-letter domain name can be sold on the open market for substantial money. There is a proven resale market for domain names, and it has legs. Domain names drive traffic, eyeballs, ad revenue, etc., all of which can be monetized. Another digital asset is bitcoin and other crypto currencies. I remain skeptical of cryptos, but let’s recognize the value that bitcoin brings to the table – it is more portable than any other currency is history, it is widely accepted, and completely free of government intervention. I’d say there’s a value proposition there, notwithstanding that bitcoin remains highly volatile.

Now to NFT. First off, there is no proven resale market for NFTs. In coins, the analogy might be certain ultra-high graded modern issues. Collectors or dealers “make” the coins with the grading services and then put them out for sale at ridiculous prices. The auction markets don’t always back them up. In other words, there is no true secondary market. The coins are lot more popular with sellers who “make” them for minimal cost, than with buyers. Of course, NFT sellers will point to the lack of a secondary market as a “ground floor opportunity.” Strike now before values explode!

Next, let’s “follow the money.” When an artist sells an NFT to a buyer for a stupid amount of money, what’s really happening? The artist is effectively selling patronage. You give an artist a lot of money, they are now indebted to you in an undefined way. They will now take your phone calls. They will share connections within the art world. That level of access is worth something. So what’s actually been sold? An NFT, or influence? Technically an NFT, but I assure you the buyer will think more about how to leverage their newfound networking power than they will staring at the digital key to their NFT on the block chain.

Let’s now think about the NFT as a collectible. The idea of collecting digital objects is certainly not new, and we’ve seen a lot of this in gaming. I play an on line pool game where you can collect various avatars, pool cues, etc., which can increase your standing on the leader-boards. They cost a few dollars, and if you have a better cue than another player then you get a built-in advantage. The salient point is that these digital objects have usefulness. Other games have their own currency that you can buy with dollars, and again, you can utilize the currency within the game in various ways to enhance your game playing experience. NFTs, on the other hand, carry absolutely no utility than ownership. There is nothing you can do with it, except brag to your friends about how foolishly you spent your money.

It's also worth noting that NFTs can represent anything. Gerry can “mint” an NFT representing today’s blog for little cost. I’m sure all the blog readers will be lining up to pay big bucks for it (not). This means the available supply of NFTs is limited only by imagination. At least with bitcoin the supply is limited. The maximum number is 22 million, of which 18 million have already been mined, and many of the early ones have been lost. We all know about the law of supply and demand, and even NFTs and their new tangled technology can’t supersede that. As you can see I’m rather skeptical regarding this whole concept. That’s doesn’t the large auction houses won’t sell or broker them at some point, but, as the “bookie,” they’ll be the only ones consistently making money with them.


Another Round of Great New GFRC Purchases

Have GFRC clients made note of the amount of new purchases that are appearing on the Blog and price lists?

As the GFRC business continues to mature and gain market visibility, more collectors are approaching with outright purchase opportunities. This fact along with Dan White's unrelenting efforts to locate quality inventory via our supplier network is having an impact on the rate of new purchases finding their way into inventory.

Today brings another fresh new purchases gallery display. There are some awesome coins in the lot including the headline 1811/09 Capped Bust dime and an important 1845-O PCGS AU50 Seated dime. The latter is an old friend as GFRC has previously sold this piece twice (January 2017 and December 2019). Please check the Sales Archive to view those sales and prices paid.

The 1866 NGC VF20 dime was also recently sold with a record in the Sales Archive. This piece has been bought back from a client. The 1842/1-D Mercury dime is rare with Full Band designation and worth noting. Also featured is a beautifully toned 1927-S Standing Liberty quarter that should attract attention.

If my day goes as planned, there will be a substantial number of posting to the 30 day price list. The previously showcased small denomination U.S. gold plus today's new purchases should intrigued a broad range of clients.


Another Round of Great New GFRC Purchases

1811/09 JR-1 NGC AU55 10C                                                   1845-O PCGS AU50 10C


      1866 NGC VF20 10C                                                          1942/1-D PCGS AU58FB 10C


1927-S PCGS AU53 25C                                                          1904-S NGC AU58 CAC $1


 1819 Sm Date PCGS AU50 1C                         1860 PCGS MS65 1C                             1913 Type 1 NGC MS67 5C


1913 Type 2 PCGS MS66 5C                      1876-CC NGC MS63 25C



Wrapping Up The Blog

Buddy the Dog is patiently waiting for his morning poop run therefore let's get this edition through the Dreamweaver spell checker and published.

Yes, I will be in the office nearly the entire day either in the shipping department or posting new purchases to the price list.

Thanks for stopping by on a Saturday morning. Be safe and well.




April 9, 2021

FedEx Behavior is a Fraud


Greetings on a Friday morning and from Day 4 of the Venice Boy's Club. Thanks for checking in at the Daily Blog.


Let me give you some sound advice. Never, never call FedEx for help as the first activity of a business day. I made this mistake on Thursday morning and was upset and frustrated for most of the morning. They are bad....

I posted the headline FedEx Behavior is a Fraud for a simple reason. How FedEx is operating with residential package deliveries is indeed a fraud. Let's go to the dictionary to check on the definition of "fraud" since in today's world, words are being twisted to mean whatever the speaker wants the truth to be.

Fraud - wrongful or criminal deception intended to result in financial or personal gain.

GFRC's business insurer, Hugh Woods, provides shipping insurance coverage for packages shipped via USPS and FedEx. GFRC's current insurance limits are $7000 for USPS Priority, $70,000 for USPS Express, and $75,000 for FedEx Express. For FedEx, GFRC cannot ship on Friday or Saturdays and retain insurance coverage. Does Hugh Woods know something here?

Hugh Woods mandates Signature Confirmation for insurance coverage. GFRC consignors know this fact all too well when shipping consignments to the Venice or Raymond offices.

Below is a screen capture of FedEx Terms and Conditions from their website. Carefully read the Direct Signature Confirmation term. "FedEx will obtain a signature from someone at the delivery address".

How much does FedEx charge for Direct Signature Confirmation service? $5.50 per package.


FedEx - Terms and Conditions - FedEx Website April 9, 2021


As a result of the Covid-19 pandemic, FedEx carriers have been empowered to sign C19 on their signature device in lieu of handing the device to the package recipient. Sadly, FedEx carriers have taken this a step further and are delivering packages where ever they please and signing C19 as Direct Signature Confirmation. GFRC has had multiple cases of no eye to eye contact between the carrier and its end customers.

This situation brought about the current loss of an 1854-O NGC MS62 Seated quarter sold to a Herndon VA client. The delivery was never attempted but the C19 was signed on the device at 7:03 PM at the end of the carrier's route.

My premise today is that FedEx is perpetuating a fraud in the U.S. FedEx is gladly taking in millions of dollars in Direct Signature Confirmation revenues while the carriers are not delivering the paid for service under the cover of Covid-19. The FedEx carriers are overworked and taking the cover to get their deliveries accomplished.

Are there any lawyers in the GFRC community that would be willing to file a class action lawsuit against FedEx for delivery fraud? I have two affidavits to date from GFRC customers that can cite the fraud being conducted by FedEx carriers.


Tales From the FedEx Customer Support Center

As a former Marketing and Sales VP with a staff of nearly 25 people during my days at CSMC Technology, I have the background to judge what is excellent vs. terrible customer support. At CSMC, I schooled the customer support staff (interfacing with international and China customers daily) on what was excellent and responsive customer service. One of the key points was service recovery when our marginal semiconductor fab would make mistakes. Customer will forgive a mistake if 1) we admit the mistake and 2) go out of way to correct or compensate for the mistake.

Following is my experience and conclusions concerning how FedEx operates concerning customer issues. FedEx customer support (as a business entity) can be summarized in three word; Ignore, Delay, Avoid.

March 15 - GFRC ships package with Direct Signature Confirmation to client in Herndon VA

March 17 - Client waits all afternoon and early evening for delivery. Finally, he checks FedEx tracking and seeing that the package was delivered at 7:03 PM with C19 signature confirmation. The FedEx driver never approached the client for delivery. The GFRC client immediately calls FedEx customer support for help with redelivery of his package. FedEx customer support assures the client that all will be done to locate the package. Case #C20437501 is assigned.

March 20 - After not hearing back from FedEx, the client notifies GFRC of the problem and communicates the case number. I immediately call FedEx for a status and was told that an "investigation is underway". FedEx will call the client on Monday with a status.

March 25 - Crickets from FedEx. I call FedEx and learn that no "investigation" has been conducted for C20437501. The case screen is blank. I am told that an "investigation" will be immediately launched. Gerry decides to file a claim for $1800 and provides the shipment receipt as evidence. Claim number C20907459 is assigned.

April 2 - Gerry calls FedEx and learns that Case #2043701 has been closed. No notification was communicated to the shipper or recipient. The package is missing per FedEx conclusion. Now the shipper must file a claim. Luckily, I had filed a claim in advance and point this out to customer service. "Oh, in that event, FedEx needs seven business days from March 25" to investigate the claim. You will receive an update email on April 5".

April 7 - Gerry calls FedEx and learns that Claim #20907459 has not been investigated. There is no status on the customer support status screen. At that point, Gerry prays that the call is being monitored for quality assurance and talks to the potential supervisor. Legal action including class action lawsuit are uttered to hopefully draw some attention to my plight.

I hope this monologue helps clients and friends understand why I was so upset yesterday.

There are several conclusions to be shared from my observations for how FedEx is conducting customer service.

- FedEx uses an overseas call center as every person has a heavy accent and is difficult to understand. I suspect India.

- One never speaks with the same agent which indicates a large call center.

- The agent is powerless. He/she sits in front of a computer screen and asks the usual questions to locate your claim/case number on their computer. The screen provides an update/no update for the agent to read. The agent Does Not record any notes from prior calls. Each call to an agent is a fresh starting point in problem discovery. The agents mean well and will make promises on their own that are ill founded and not supported by FedEx Operations.

FedEx Operations is not supporting their colleagues in the customer support call center. Those individuals are nothing but pacification agents.

In summary, BEWARE OF FedEx.


Global Financial New

Another day on Wall Street arrives. The DJIA and S&P 500 are at record levels with NASDAQ soon to reach its own new record high. This morning's Seeking Alpha commentary is once again correlating NASDAQ performance to the 10 Year U.S. Treasury bond yield. Since the 10 Year yield has dropped from 1.72% to 1.66%, that is driving the renewed investment in Big Tech. It is all so laughable when tracked over a period of time as done for Daily Blog reporting.

Following are morning market futures courtesy of Seeking Alpha. U.S markets will open flat at 9:30 AM.

In Asia, Japan +0.2%. Hong Kong -1.2%. China -0.9%. India -0.3%.

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

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

Gold continues its rally and nearly reached $1760/oz before falling back to $1746 as we start the day. Crude oil can be had for $59.71/bbl. Bitcoin is hovering at the $58,375 level.

The 10 Year U.S. Treasury bond yield has moved up to 1.66%. Watch out below for the NASDAQ!

New York City will see an increasing business exodus as higher taxes are on the way per this Seeking Alpha article that is a must read.

New York passed plans this week to increase taxes on its most affluent residents, though top business leaders say the increases could backfire by driving away top earners from the city. The $212B state budget includes more aid for schools, tenants and small businesses. It also allocates billions to other progressive efforts like renewable energy and nonprofit arts, as well as workers who don't qualify for federal aid because of their immigration status.

By the numbers: While New York state income tax rates will rise and new brackets have been added, making headlines is the percentage New York City's ultra-high earners will have to pay. Marginal income tax rates could be nearly 52%, which would mean the city's wealthiest residents could end up giving more of their paychecks to federal, state and local governments than they keep for themselves. It would also push NYC past California, which currently has the highest marginal personal tax rate in the U.S. - just over 50% on income over $1M.

Executives at major Wall Street firms and other New York employers have warned city officials of the consequences. In a letter delivered to Gov. Andrew Cuomo and leaders of the state Legislature, 250 business executives said the package of tax increases would "jeopardize New York’s recovery from the economic crisis inflicted by COVID-19." New York is already having a slow recovery, with the state's unemployment rate at 8.9% in February, the second highest among the 50 states and D.C.

Outlook: Elliott Management, Icahn Enterprises, Silver Lake, Blackstone and Moelis are among the firms that have either moved their HQ or opened new offices in Florida over the past year. Goldman Sachs Asset Management is meanwhile considering plans to expand in the state - which has no income tax - while JetBlue is looking to relocate its headquarters there from NYC. Many companies have also discovered during the work-from-home lockdowns that they didn't need to keep employees in Manhattan or that the high cost of an NYC flagship office is no longer worth it. 


Wrapping Up The Blog

Another non-stop busy day awaits me in the GFRC office along with Buddy responsibilities. It will definitely be Chinese take-out for dinner!

Thanks for stopping by and taking in these ramblings. Saturday's Blog brings a new guest blogpost from Len Augsburger and his NFT perspective. This commentary is very well written so please drop by.

I hope to load the balance of the U.S. gold offerings to the price list today.

And no, I will not be calling FedEx today for mental health reasons....

See you tomorrow at the Blog.





April 8, 2021

Awesome CAC Approved U.S. Gold Arriving to GFRC Price List!


Rare Seated Half Dime Transitional Die Variety to Consider


Greetings from Day 3 of the Venice Boy's Club and welcome to the Daily Blog.

Flying by is an understatement concerning time at the Venice Boy's Club. Are we having a good time or what? My days could not be any busier handling all GFRC business tasks, taking care of Buddy, watering flowers, and the other stuff that needs to get done. One thing that is not getting done is making the bed. A Boy's Club does come with certain privileges!

Today's ramblings will be brief as Wednesday evening's energies were dedicated to image preparations. The GFRC business is firing on all cylinders with more new purchases arriving daily. Dan White is our buying hound dog and working his channels for the highest quality acquisitions at competitive pricing. You won't believe the number of fantastic coins that we must pass on due to asking prices. We are taken back by some of the asking prices but continue the search! This is the nature of a coin business; being selective and digging out choice coins that our clientele can afford. Dan and I are conducting the tedious heavy lifting through our channels and continue to be selective. The last thing we want is to tie up precious business capital with museum pieces that are wonderful to view but unaffordable.


Awesome CAC Approved U.S. Gold Arriving to GFRC Price List!

I'm super proud of the following U.S. gold gallery as these offerings have been accumulated over an extended period and are being brought to market in one large lot. Little will be said as words are not necessary. Astute U.S. gold collectors will appreciate the significant of these forthcoming offerings. If not a U.S. gold fan, please enjoy the visual beauty of these lovely smaller denomination pieces.

Due to limited time, the $10 and $20 denominations will be brought to market via a second gallery display. Believe me, there is more great U.S. gold to come.


Awesome CAC Approved U.S. Gold Arriving to GFRC Price List!

1857-S PCGS AU58 CAC G$2.5                                                   1869 PCGS MS62 CAC G$2.5


1860 NGC AU58 G$3


1834 Plain 4 PCGS EF45 CAC G$5                                                   1836 PCGS EF40 CAC G$5


1866-S No Motto PCGS VF30 CAC G$5                                         1893-CC PCGS EF40 CAC G$5    


   1851 PCGS MS63 CAC G$1                            1853 NGC MS62 G$1                           1862 PCGS EF45 CAC G$2.5  


    1908 PCGS MS64+ G$2.5                         1915 NGC MS64 CAC G$2.5                     1926 PCGS MS64 CAC G$2.5


    1928 PCGS MS64+ G$2.5                      1867-S PCGS VG10 CAC G$5



Rare Seated Half Dime Transitional Die Variety to Consider

Today's Blog cool factor continues with a rare Liberty Seated half dime transitional die variety. 1840 brought a transitional year to the New Orleans mint. For half dimes and dimes, both obverse and reverse designs were changed. The obverse No Drapery design was replaced by the With Drapery design. The reverse Closed Bud wreath was replaced with a new Open Bud wreath design. When the New Orleans mint paired old and new design dies together, these events are known as Transitional strikes. All are presently rare for both the half dime and dimes denominations with substantial premiums.

Today brings the offering of an 1840-O half dime with a No Drapery obverse paired with an Open Bud reverse. GFRC has previously handled a PCGS F15 example that sold for $535 back in September 2018. These transitional pieces come weakly struck. The following PCGS VF20 example has a weak center strike on both sides while the peripheral strike is well executed. Most important is the natural rose-gray patina that screams originality. Look for this transitional offering to reach the price list this afternoon.


Important 1840-O Transitional Liberty Seated Half Dime Offering

1840-O No Drapery Transitional Open Bud Reverse, PCGS VF20 H10C


Global Financial New

U.S. equity markets were flat on Wednesday and just consolidating. Morning market futures are suggesting renewed interest in equities across the global. U.S. market futures are forecasting another positive open at 9:30 AM.

In Asia, Japan -0.1%. Hong Kong +1.5%. China +0.1%. India +0.6%.

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

Futures at 6:20, Dow +0.2%. S&P +0.4%. NASDAQ +0.8%.

Gold is in recovery mode and making a push back to the $1800 level. The current quote is $1751/oz. Let's remember that this number is a paper gold number. Anyone attempting to buy physical will be looking at roughly $2000 for an ounce of gold due to supply issues and dealer premiums.

The closely watched 10 Year U.S. Treasury bond yield is holding flat at 1.65%.

More voices are warning of the inherent risks with NFTs. This Seeking Alpha article is a must read for staying abreast of continuing technology innovations on the block-chain.

NFT risk

The debate over whether NFTs will have a lasting impact on the art market is still ongoing, but headlines are still being made by the man who stoked NFT mania. Anyone trying to profit from NFTs is "taking a huge risk," Vignesh Sundaresan announced in an interview, adding that "it's even crazier than investing in crypto." Sundaresan, also known by the on line moniker MetaKovan, shelled out $69M last month for JPEG ownership and a hyperlink of Beeple's Everydays: The First 5,000 Days.

Waning sentiment can be seen in recent auctions. Average prices for NFTs tracked by NonFungible.com slumped almost 70% from a peak in February through early April. B.20, a token created by MetaKovan to allow "shared ownership of an open art project," has also fallen to around $5 from $23 since he won the Christie's auction for Everydays on March 11.

Why did he do it? "It's not primarily an investment," Sundaresan declared, saying his motivation was to support the NFT artist and showcase the technology. "I had this opportunity to be part of this very important shift in how art has been perceived for centuries," he added in another recent interview. To note, Sundaresan paid 42,000 Ether for the piece of art, which was probably worth a whole lot less when he first started investing in crypto in 2013.

Long-term outlook: Sundaresan described the technology as an continuing innovation that will permit a "new patronage movement" for artists and other content creators, though the hype around the highest-priced NFTs will likely fade. "I don't think NFTs will hold the same kind of hype forever around high-value items," he added. "The market will get divided. There will be very few high-value items and an infinite number of very low-valued items."


Wrapping Up The Blog

Another busy day in the GFRC office awaits me so best to get on it. Yes, I see that the 8:00 AM publishing time has arrived.

Please remember that the GFRC consignment window opens in several days. I'm processing and loading new offerings as quickly as possible before the Maine migration.

Also please note the opening GFRC Online Auctions banner seeking a major collection for the upcoming summer months. The GFRC staff would be thrilled to work with existing or new clients on a significant divestment.

Thank-you for stopping in at the Blog.




April 7, 2021

Dealing with Increasing Coin Prices


Inaccurate PCGS Images Create Collector Confusion


Greetings from Day 2 of the Venice Boy's Club and welcome to more ramblings. Do we have a show for you today!

I'm pumped up for composing today's Blog edition as there is ample content. Writing is starting at 5:30 AM and let's see where it goes.

Let's preface today edition with the recognition that confusion reigns. There is ongoing confusion about achieving Covid-19 herd immunity, the Moderna vaccine being effective for less than year, MLB moving the All Star Game due to politics, and asset prices moving up quickly. We live in dynamic times with modern day hustling by rating addicted media and the insidious Wokeism movement. What is the average person suppose to believe? Who is speaking the truth?

Let's start today's show with a noteworthy statement by Seth Godin concerning the NFT (Non Fungible Tokens) hustle that is coming to an on line portal near you. I have the utmost respect for Seth Godin as a profound thinker. When Godin calls out a new technical development as "a dangerous trap", we should all take note. This Blogpost is long. Seth Godin presents a well prepared background to justify his thumbs down call out of NFTs.


Seth Godin Blogpost: NFTs are a dangerous trap

Like most traps, they’re mysterious and then appealing and then it’s too late.

An NFT is digital treasure chest, a status symbol and an apparent item of value.

Like a Pokemon card, or an original Picasso drawing or the actual frame of a Disney animated film from 1955, NFTs are designed to be the one and only, a shred of non-fungible reality in a world gone digital.

You either own this thing or you don’t.

To make it really clear, consider Honus Wagner. A Honus Wagner baseball card is quite rare (Wagner didn’t permit the card to be made because he wanted nothing to do with cigarettes, foreshadowing some of the stuff below) and so there were fewer than 200 all in before production shut down. One of the cards last sold for more than $3,000,000.

Owning a Honus Wagner card doesn’t mean you own Honus Wagner. Or a royalty stream or anything else but the card itself.

For years, this was part of the business model of the collectible card industry. Make billions of cards, most get thrown out, some rookies get famous, some cards go up in value.

Now, consider an oil painting. Perhaps it was stolen a long time ago, or became famous for other reasons. It’s the one and only. If you somehow owned the Mona Lisa, it wouldn’t mean that you own the woman who is portrayed in it, or any part of DaVinci, it would simply mean you own a canvas, one that others also want to own.

People can look at images of the Mona Lisa all day long without compensating you, because you simply own the original trophy, not the idea…

But having it on your wall gives you a feeling, and telling other people you own it gives you another, slightly different feeling.

It’s worth noting two things about the art example:

  1. There’s a three-thousand-year cultural history of owning priceless works of art. Most people understand that an original Rothko is a high-status luxury good.
  2. Almost all paintings are worthless (on a cash basis). They sell at garage sales for dollars, not millions, and original (and beautiful) works of art go unsold every day.

So what’s an NFT? It’s a digital token (the same way a Bitcoin is a digital token) except it’s a one and only, like a Honus Wagner, there’s just one. One of these tokens might refer to something else (a video of a basketball shot, an oil painting, even this blog post) but it isn’t that thing. It’s simply a token authorized by the person who made it to be the one and only one. (The NBA has already sold more than $200 million in video clip highlight NFTs)…

And so the trap:

CREATORS may rush to start minting NFTs as a way to get paid for what they’ve created. Unlike alternative digital currencies which are relatively complicated to invent and sell, it’s recently become super easy to ‘mint’ an NFT. I could, for example, turn each of the 8,500 posts on this blog into a token and sell them on the open market.

The more time and passion that creators devote to chasing the NFT, the more time they’ll spend trying to create the appearance of scarcity and hustling people to believe that the tokens will go up in value. They’ll become promoters of digital tokens more than they are creators. Because that’s the only reason that someone is likely to buy one–like a stock, they hope it will go up in value. Unlike some stocks, it doesn’t pay dividends or come with any other rights. And unlike actual works of art, NFTs aren’t usually aesthetically beautiful on their own, they simply represent something that is.

BUYERS of NFTs may be blind to the fact that there’s no limit on the supply. In the case of baseball cards, there are only so many rookies a year. In the case of art, there’s a limited number of famous paintings and a limited amount of shelf space at Sotheby’s. NFTs are going to be more like Kindle books and YouTube videos. The vast majority are going to have ten views, not a billion. It’s an unregulated, non-transparent hustle with ‘bubble’ written all over it.

THE REST OF US are going to pay for NFTs for a very long time. They use an astonishing amount of electricity to create and trade. Together, they are already using more than is consumed by some states in the US. Imagine building a giant new power plant just to make Christie’s or the Basel Art Fair function. And the amount of power wasted will go up commensurate with their popularity and value. And keep going up. The details are here. The short version is that for the foreseeable future, the method that’s used to verify the blockchain and to create new digital coins is deliberately energy-intensive and inefficient. That’s on purpose. And as they get more valuable, the energy used will go up, not down.

It’s an ongoing waste that creates little in ongoing value and gets less efficient and more expensive as time goes on. For most technological innovations the opposite is true.

The trap, then, is that creators can get hooked on creating these. Buyers with a sunk cost get hooked on making the prices go up, unable to walk away. And so creators and buyers are then hooked in a cycle, with all of us paying the lifetime of costs associated with an unregulated system that consumes vast amounts of precious energy for no other purpose than to create some scarce digital tokens.

I wrote a book about digital cash twenty years ago. This is precisely the sort of cool project and economic curiosity that I want to be excited about. But, alas, I can see the trap and I wanted to speak up with clarity. I would usually make this into an episode of my podcast, but Everest’s article deserved a link and more focus, so here you go.

Let’s walk away from this one.


Dealing with Increasing Coin Prices

I get it! Collectors wish to pursue their hobby with stable and predictable coins prices. Stable coin prices are the staple of coin price guides.

What happens when across the board asset prices start to inflate? The laws of supply and demand become apparent.

One of the most significant second order effects of the Covid-19 pandemic has been increasing asset prices. Politically motivated stimulus is flooding markets with capital. Stock markets only go up. Housing prices are moving up due to building material costs. Raw material commodity prices are moving up. New housing construction is slowing down due to elevated material costs and availability.

Should we be surprised that a small portion of the new wealth creation is elevating demand for premium coins? Yes, it is true and not a GFRC hustle to justify why newly loaded coins to the price list are more expensive.

To illustrate my point, Dan White called yesterday afternoon. He is still focused on rebuilding the GFRC U.S. gold price list inventory levels.

Dan made two purchases with one of our key wholesalers and shared the conversation. Forget trying to dicker and be happy that you were able to gain access to the coins was the essence of the dialogue with our supplier. Demand is outstripping supply and coin prices are moving up quickly as the bottom line. Another one of Dan's well placed numismatic industry sources has made it clear that CDN Greysheet prices will be increasing soon. With CDN "wholesale" prices moving up, CDN CAC prices will also be rising.

Pricing coins during a rising market is challenging. The GFRC community uses the Sales Archive as a key reference. The problem is that the Sales Archive is a backward looking instrument and becomes invalid in a hot market.

It pains me to increase asking prices as I don't wish to be viewed as gouging my trusted clients. What can I do? If GFRC does not pay more for coins, the business will slowly become emaciated. Smart consignors are seeing the trend and asking for higher offer prices.

In summary, if you think today's CAC approved coin prices are elevated, there could be disappointment on the horizon when coin prices jump another 10-20% before the end of 2021. Why shouldn't they? The U.S. equity markets are increasing at these rates? Premiums coins don't trade is an isolated market or vacuum. Premium coins are another financial asset and will respond to excess capital that is being generated by the Federal Reserve and ongoing stimulus.

One final note to those who still try to offer 20% back of my current asking prices. Please stop this behavior as it shows your ignorance of the market. My response will be "Sorry, Pass." with no explanations. Collectors should take a personal initiative to self educate. To those who are perpetual bargain hunters, good luck as purchased coins will be the bottom end dregs.


Inaccurate PCGS Images Create Collector Confusion

For years, I have been stating that GFRC's photography is focused on 100% color matching of a coin's in-hand appearance. GFRC customers understand this point.

When marketing on Collectors Corner, new collectors will locate GFRC and become confused. Why? Their photography frame of reference is PCGS TrueView or whatever PCGS chooses to publish for coin images. PCGS and other high volume dealers employ internal lighting booths and blast a coin with multi-angle lighting. As they attempt to simulate bright light luster characteristics, the natural in-hand patina coloring is washed out. New collectors see PCGS TrueView as the "gold standard", of course it is PCGS!

Yesterday brought one of the more shocking photography gaps that I have seen in my seven years of operating GFRC. A new collector to GFRC (via Collectors Corner) approached me since being confused by my photography and its excessive darkness. Here are the GFRC images for an 1807 O-112 PCGS VF25 CAC Capped Bust half.

1807 50/20C O-112 PCGS VF25 CAC 50C - GFRC Photography


The collector checked the serial number "22027819" on the PCGS website. Here are the PCGS images that appear. Yes, it is the same coin.


1807 50/20C O-112 PCGS VF25 50C - PCGS Website Illustration


I can understand the collector's confusion. Let's face it, the coin as illustrated by PCGS would never garner a CAC green bean. Today brings an educational session with this potential client.


Global Financial New

U.S. equity markets were slightly down on Tuesday and will open flat today based on morning market futures. Otherwise notable is the drop in the 10 Year U.S. Treasury bond yield to 1.65%

In Asia, Japan +0.1%. Hong Kong -1.2%. China -0.1%. India +0.9%.

In Europe, at midday, London +0.8%. Paris +0.2%. Frankfurt +0.1%.

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

WTI Crude oil pricing is down slightly to $59.77/bbl. Gold attempted a rally on Tuesday to the $1745/oz level before dropping back to this morning's $1738 quote.


Wrapping Up The Blog

What's on the GFRC agenda for today? We start the day with responding to overnight orders following by some light shipping.

I'm targeting an early lunch followed by a long day of image processing. There are two major projects underway. First are the Newtown Ultimate Seated halves to prepare. Second is a large collected lot of U.S. gold from multiple sources. The GFRC U.S. gold price list is in need of a fresh injection of new inventory.

I will be in the office nearly the entire day and look forward to your purchase orders or consignment proposals. As a reminder, the GFRC Online Auctions platform seeks a major collection during the summer 2021 months.

Thanks for checking in at the Blog.





April 6, 2021

Port Matilda Collection Consignment - Silver Type Offerings


Greetings from the Venice Boy's Club and welcome to another morning's ramblings.

Yes, Diane is Austin enjoying time with our grand-daughter Ivy. This leaves "the Boys" home alone to get in trouble. Gerry and Buddy the Dog, what a combination.

Seriously, the next two weeks will certainly fly by. Sustaining the entire GFRC business, on a solo basis, plus taking care of Buddy translates into long hours in the office, long dog walks, and not much else. If shipping and order responses appeared a tad slower than normal, it is for a good reason.

Congratulations go out to a passionate Liberty Seated quarter collector who made a huge purchase on Monday evening. He took a substantial plunge and added the Saw Mill Run's 1871-CC PCGS VG08 quarter to his collection. Following are images of this noteworthy purchase.


Saw Mill Run 1871-CC Quarter Finds New Home

1871-CC PCGS VG08 25C


Port Matilda Collection Consignment - Silver Type Offerings

The Port Matilda Collection is back with a top of the ladder consignment. Nearly all GFRC consignors go through a process of letting go their least favorite coins first. This is natural behavior and understood. With time, the consignment quality continually improves until we reach the top of the ladder with the finest pieces being released.

Following are some downright awesome silver type offerings to consider on a Tuesday morning.

The 1851 Liberty Seated half belongs in the most advanced collections being assembled. CAC population is two in MS64 with a lone MS65 approved. This example is a no question gem with unabraded fields and a hammered strike. Up next are two superb Capped Bust halves. I've handled a fair number of III Edge examples but not XXX Edge. This 1809 example is thoroughly choice and would fit nicely into most collections. The 1811 O-111 is a gem with a quick FRoR arriving a few minutes ago. The Port Matilda consignment wraps up with a choice 1850 Seated half, purchased from GFRC, and a gem 1881-S Morgan dollar.

Target posting time for these pieces is Wednesday. Let those First Right of Refusals fly!


Port Matilda Collection Consignment - Silver Type Offerings

1851 PCGS MS64 CAC

1809 XXX Edge O-110 PCGS VF30 CAC 50C                                      1811 O-111 PCGS AU58 CAC 50C     


1850 PCGS EF40 CAC 10C                                                     1881-S PCGS MS66 CAC $1



GFRC Consignment Window Re-Opens April 10th

So far, one new consignment has been committed for the April 10th submissions re-opening. The Murphys Collection will be back with more of his typical offerings.

Please feel free to call, text, or email with your proposals.

I'm also buying larger lots given the accumulated cash position. 2021 has seen much of the GFRC owned inventory being sold. The coin show absence has had an impact on GFRC owned inventory levels and the ability replenish. Both Dan White and I are sitting on a substantial amount of numismatic capital and ready to purchase your premium coins at fair numbers. Please note the operative word "premium". We are not interested in purchasing average or below average coins to wholesale out to other dealers. All GFRC purchases are targeted for the website price list.


Global Financial News

U.S. equity markets continue to roar upward with new records on Monday. The DJIA closed at 33,527 along with the S&P500 at 4,078. The NASDAQ appears to be making a run at the 14,000 mark. Those with strong equity market investments are feeling buoyant with monies moving into the numismatic hobby.

Morning market futures indicate a flat open at 9:30 AM. Who cares after yesterday's gains?

In Asia, Japan -1.3%. Hong Kong closed. China flat. India +0.1%.

In Europe, at midday, London +1.3%. Paris +0.6%. Frankfurt +1.1%.

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

Commodities and the long bond continue to be range bound. WTI Crude oil is priced at $60.30/bbl. Gold is finding some lift at $1735/oz. Bitcoin is quoting at $58,724. The 10 Year U.S. Treasury bond yield has pulled back ever so slightly to 1.7%.

The following Seeking Alpha article is worth a read. It appears that U.S. Treasury Secretary Janet Yellen has her marching orders. Tax rates for U.S. corporations will be increasing in a Biden administration. The past play book saw multi-national corporations moving their headquarters outside the U.S. to take advantage of lower tax rates. Yellen is front running their predictable reactions to higher U.S tax rates by pushing for standardization of global tax rates. You've go to love the arrogance of the U.S. government attempting to dictate taxation policies to Europe and other global regions.

Global Minimum Tax

As the spring meetings of the IMF and World Bank begin in a virtual format, U.S. Treasury Secretary Janet Yellen had a message for governments across the globe. "It is important to work with other countries to end the pressures of tax competition and corporate tax base erosion... to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations," she said in her first major speech on international economic policy. Yellen is specifically advocating for the adoption of a global minimum levy for corporations in order to avoid a "race to the bottom" on taxation.

Backdrop: President Biden has proposed hiking the U.S. corporate tax rate to 28% from 21%, partially undoing the Trump administration's cut from 35% in its 2017 tax legislation. Biden also wants to set a minimum U.S. tax on overseas corporate income to make it harder for companies to shift earnings offshore. A minimum global corporate income tax could partially offset any consequences that may arise from the U.S. corporate tax hike and would help pay for the White House's ambitious $2.3T infrastructure plan.

Questions to ask: Will nations (or Congress) agree to the tax? What will the level be? And will it include enforcement mechanisms or be effective enough to eliminate tax havens or low tax jurisdictions?

While many countries have endorsed a minimum tax (there's been talk at the OECD for years), others may not embrace one unless they can claim a bigger stake in the profits of U.S. tech companies. The debate also touches on the ongoing friction in international taxation: whether to tax companies based on the location of their income or the location of their headquarters. The U.S. didn't have a pure system before or after the 2017 tax act, which leaned toward taxes based on where revenues are generated, though the Biden administration appears to be focusing more on the latter.


Wrapping Up The Blog

A substantial number of check payments arrived on Monday which translate into a long morning in the shipping department. With Diane away, more time is necessary to transport shipments to the USPS Post Office outlet plus BoA check deposit at a teller's line. All these activities take time away from the core GFRC function of image processing and loading coins to the price list.

Best to get on with a new day. A Buddy walk and shower are up next followed by responding to overnight purchase orders.

The countdown to seeing the new John Deere 2025R tractor is down to 27 days.

Thanks for checking in at the Blog.




April 5, 2021

A Contrived Blank Sheet of Paper? Not Today...


Greetings and welcome to the Blog on a Monday morning.

A contrived blank sheet of paper best describes my mood as this Blog edition is being composed. There are no Sunday evening preparation for today's ramblings. Rather, I spent the evening updating images in the Liberty Seated Dime web-book based on new offerings reaching the price list on Sunday and continuing through today.

I'm certain that most Blog readers check in on a daily basis to enjoy the latest numismatic topics or view upcoming GFRC new offerings. I'm sorry to disappoint as this edition lacks coin images or numismatic related topics.

Let's return to the phrase A contrived blank sheet of paper as the wording was carefully selected to express my thoughts in a public forum that the Blog has become.

I've purposely linked two ideas together to communicate inner feelings and frankly, concerns. Let's examine those two components.

- Contrived can be defined as deliberately created rather than arising naturally or spontaneously or created or arranged in a way that seems artificial and unrealistic. Contrived is not a positive attribute and might be seen as having an element of deception.

- Blank sheet of paper is a self created term from semiconductor career in China. If conducting a Google search on blanket sheet of paper, there will be a literal interpretation. I would use the term blank sheet of paper to describe cases where I had no knowledge of a subject and would require help with writing the basics on a notepad. My Chinese colleagues could easily understand the concept and would do their best to help with careful explanations.

Why the long preamble today?

The Blog has a wide ranging readership that includes many from all walks of life. The Blog safe space is numismatics which is consistent with the purpose of the GFRC business. This is easily understood and appreciated. However, there are times where I wish to explore other topics that could be sensitive to certain individuals. Those topics are suppressed for the better good of all who visit. That suppression is a contrived blank sheet of paper or acting dumb on a topic that concerns me.

If you've followed me this far, I am grateful. My goal is to present a topic for your consideration and awareness. The exploration of the topic is completely up to each reader. Some may not care to delve into the concept while others might be intrigued.

A new thought process or pseudo-religion is sweeping the country. It is called Wokeism. Wokeism is not a fad but rather a coordinated movement that is permeating our America society. The readership is free to agree or disagree with the tenents of Wokeism. My goal is to raise awareness of the movement and its potential long term implications.

For those who wish to explore the tenents of Wokeism towards raising self awareness, might I suggest that you explore the content at this link as a starter. This content is non-political and non-religious.


For readers who are comfortable in exploring Wokeism as interpreted by those from a Christian faith, the following link provides a deep dive into the topic.



I appreciate your time and consideration on this opening topic. Awareness of the changes taking place around us in critical in a fast paced on line connected society. How each individual chooses to respond is a personal decision.

Tomorrow will bring a regular Blog edition with another cool client gallery and more numismatic ramblings.


Global Financial News

Friday's U.S. jobs report has energized an already buoyant domestic equities market. The following Seeking Alpha headlines is worth reading.

Bumper jobs report

Investors are digesting the March non-farm payrolls report a bit late as markets were closed at the end of the week for Good Friday. The strong bounce in U.S. job growth, compounded with an accelerating vaccine roll-out, is giving traders renewed enthusiasm after the S&P 500 topped the 4,000 milestone for the first time on Thursday. Overnight, the index rose another 0.5%, along with the NASDAQ and Dow Jones Industrial Average.

By the numbers: The NFP report smashed expectations, with the U.S. adding 916,000 jobs in March, the highest since August 2020. Growth was led by gains in leisure and hospitality, public and private education, and construction, while the unemployment rate fell to 6% from 6.2%. Helping boost sentiment is expected stimulus from a coming infrastructure proposal, as well as the current pandemic picture. The U.S. reported another daily record of new COVID vaccinations on Saturday, pushing the weekly average of new shots per day above 3M.

Other data this morning is expected to show a rebound in the U.S. services sector. The ISM Services Index, released at 10 a.m. ET, will likely display activity accelerating in the U.S. industries hardest hit by shutdowns and stay-at-home orders. A services recovery has so far lagged behind manufacturing, and investors will be watching the figures to gauge the start of a broader economic revival.


Following are morning market futures confirming a 0.5 gain for all markets come the 9:30 AM opening trading.

In Asia, Japan +0.8%. Hong Kong closed. China closed. India -1.7%.

In Europe, at midday, London closed. Paris closed. Frankfurt closed.

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

Commodities, Bitcoin and the 10 Year U.S. Treasury bond yield are flat to last week's closing position. The huge U.S. jobs gain and economic recovery appears to be already factored into these numbers.

Crude at $60.15/bbl, Gold at $1724/oz, Bitcoin at $57457, and the 10 Year U.S. Treasury bond yield at 1.72%


Wrapping Up The Blog

Order shipments, including a portion of the Burrowing Owl Collection pieces, and transporting Diane to the Tampa airport are the day's primary activities.

I will be in the office most of the day including working into the late evening towards a client gallery illustration for Tuesday's Blog.

Tomorrow also brings the arrival of a substantial early type lot for purchase. The balance of the week will be entirely focused on walking Buddy the Dog along with marketing and selling coins.

Thanks for checking in at the Blog each day.




April 4, 2021

The Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Summary


Liberty Seated Dime Candies on Easter Sunday



Greetings on Easter Sunday 2021 and welcome to the Blog. Thank you for checking in. There is much ground to cover in today's edition.


The Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Summary

We open a Sunday morning discussion with the Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale outcomes.

Saturday's Burrowing Owl auction sale bidding was different than in prior sales. All eyes were on the 1817 O-110 PCGS AU55 CAC and 1823 O-106a PCGS EF45 CAC halves as the grand auction prizes. Instead of the traditional last five minute sniping, bidding for these two pieces took place during the morning and afternoon hours. First came the 1823 half breaking through the $2000 level during the morning followed by the 1817 being bid through the same threshold during the afternoon.

Both the 1817 and 1823 halves brought spectacular prices due to eye appeal. This is a signal to the collecting community that eye appeal with CAC approval is the present direction of our hobby. I'm not surprised with the prices realized as the $2000 level was repeatedly mentioned in the Blog as fair market value for exceptional pieces.


Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Highlights

1817 O-110 PCGS AU55 CAC 50c - Realized $2057

1823 O-106a PCGS EF45 CAC 50c - Realized $2100

1825 O-115 PCGS AU55 Gold CAC 50c - Realized $1380


I was a bit disappointed with the number of lots that did not meet reserves. Overall, 14 of the 22 lots sold during the sale. Some superb early dates that failed to secure bids included the 1807 O-112 and the 1808 O-109a. Toning and surface preservation are exceptional.

1807 Lg Stars 50/20C, O-112 PCGS EF45 50C                                    1808 O-109a PCGS EF45 CAC 50C      



Come the afternoon hours, the remaining eight unsold lots will be posted to the GFRC price list and into the Collectors Corner marketplace. If history repeats itself, I'm expecting several to sell quickly to individuals who do not frequent GFRC Online Auctions but make a point of purchasing directly from the price list.

A sincere thank-you goes out to the regular GFRC community for supporting this sale and taking home some wonderful prizes.


Liberty Seated Dime Candies on Easter Sunday

Everyone equates Easter Sunday with egg hunts, chocolate bunnies, and an assortment of Easter candies. To celebrate Easter Sunday at the Blog, I've been quietly preparing a large Liberty Seated dime lot that is today's gallery presentation. Yes, this lot brings a host of "candies" to tickle your Seated coinage passions. Many are plate coins at The Definitive Resource for Liberty Seated Dime Variety Collectors commonly known as the "web-book" during my ramblings.

Please take the time to ponder through the 19 pieces on display. The offering scope is broad with web-book plate coins, proofs, and lower grade but difficult die varieties.

First Right of Refusals are encouraged since this announcement is catching readers by surprise. My plan is to start positioning these offerings to the price list on Monday. Today's priority is wrapping up the Burrowing Owl auction invoicing and updating price lists. A secondary consideration is improving the "web-book" illustrations with the new and improved plate coin images. As usual, there is much to do in the GFRC office on a continuous basis.

So please sit back on a Sunday morning and enjoy the follow Liberty Seated Dime treats on an Easter Sunday morning.


Liberty Seated Dime Candies on Easter Sunday

1838 F-112 PCGS AU58 CAC 10C                                                1839 F-106c PCGS MS62 10C


1840-O F-102 PCGS EF40 CAC 10C                                         1847 F-103 PCGS AU55 CAC 10C


1851-O F-101 PCGS AU53 10C                                                  1870-S F-101 PCGS VF30 10C


   1888 F-103 NGC PF65 10C                                                1889 F-101 PCGS PR65CAM 10C


 1850 F-108 PCGS AU55 OGH 10C                  1851 F-102 PCGS AU58 10C              1853 Arrows F-117 PCGS VF20 10C


 1856-O F-105 PCGS VF35 10C                   1857-O F-105 PCGS AU55 10C                   1860 F-110 PCGS MS62 10C 


 1878 T2 F-102 PCGS MS63 CAC 10C              1883 F-103 NGC PF63CAM 10C                  1884-S F-106 NGC EF40 10C       


 1886 F-118 PCGS AU58 10C                      1891 F-10x NGC MS64 10C



New Consignments Being Solicited for April 10 Window Opening

A reminder that the GFRC consignment window re-opens on April 10.

During the upcoming two week, Diane will be in Austin which means more time in the GFRC office without feeling guilty. I will be working through the remaining consignments currently in backlog and expect to have a mostly clean slate by the third week in April. Come the first weekend in May, GFRC will be migrating back to the Maine homestead. Fresh consignments can be shipped to Florida or held back until we are settled into the Maine office.


Wrapping Up The Blog

A Happy Easter Sunday wish to those of the Christian faith.

I promise to be back on Monday or Tuesday with yet another interesting client gallery. Please check back at our regularly scheduled time.

Please remember to be vigilant concerning Covid-19. Positive cases are rising again as the country opens up. Just yesterday, we learned that Mike's mother (Renee's husband) was in the hospital with Covid and pneumonia. She is responding to medications and is expected to make a recovery.

See you tomorrow at the Blog.




April 3, 2021

The Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Finale Ends at 9:00 PM


More CAC Approved Better Date Indian and Lincoln Cents


Greetings and welcome to the Blog. Another early Saturday morning arrives.

Something remarkable took place this morning. I slept until 6:30 AM with Blog composition delayed until 7:30. During most days, the Blog would be nearly complete by this time. Might this be a rehearsal for the upcoming Maine transition and a better balance between GFRC and the outdoors? We will learn soon enough as GFRC will be re-opening its Maine office just one month from now.

For those who have not been paying attention to the PCGS price guide, prices are moving up across the board and noticeably for early type coins. This PCGS 3000 Index, directly from the PCGS website, confirms what has become common knowledge among dealers. The coin market is experiencing renewed demand with a supply shortage. When demand exceeds supply, prices must move up to stimulate incremental supply.

What is further notable is that prices have been "falling" for some time due to the amount of "dregs" that continually cycle through the auction houses and dealer inventories. The "dregs" appear to comprise a fair amount of the market. So far, no one has devised a CAC Approved Index to capture the top tier of the numismatic market. If you are aware of a publishing CAC Approved pricing index, please share it with me.


The Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Finale Ends at 9:00 PM

Today's notable event is the final day of bidding for the Burrowing Owl's CAC Approved Bust Half Dollar Set Sale. Frankly, I'm a bit disappointed that not all lots have bids at this point. As a dealer who views thousands of coins during a single year. I can assure the Blog readership that the Burrowing Owl offerings are top tier for the grade. Top tier means in the top 5-10% of the population. Top tier coins deserve a premium for their originality and beauty. Finally, prices for CAC coins are moving up. A search through Collectors Corner or even Great Collections inventory will illustrate how few CAC coins are available. When they can be located, you can expect to pay a substantial premium. This is how a tiered market operates.

As of this morning, 12 of the 22 lots have bids. 7 of the 22 lots have multiple bids. The best possible avenue for reminding Blog readers of the exceptional nature of the Burrowing Owl Collection is to post the entire 22 lot gallery in the Blog. Please stop of a moment and carefully examine all of the offerings. Sure, many Blog readers are not passionate Capped Bust half dollar collectors. OK, how many Blog readers are type coin collectors? All of the Burrowing Owl pieces would be excellent selections for an early type set.

In closing, bidding end at 9:00 PM ET. Like many, I will sitting at the laptop during the final hour of bidding and will enjoy watching the outcome. My suspicion is that today will bring out those who have been careful not to elevate prices during the early bidding portion of the cycle. Please check back on Sunday morning for a Burrowing Owl sale summary.


Burrowing Owl Collection Sale Lots to Consider!

1815/2 O-101 PCGS EF45 CAC 50C  

1817 O-110 PCGS AU55 CAC 50C                                                1823 O-106a PCGS EF45 CAC 50C   


1807 Lg Stars 50/20C, O-112 PCGS EF45 50C                                    1808 O-109a PCGS EF45 CAC 50C      


   1809 O-103 PCGS AU50 CAC 50C                                           1810 O-101a PCGS AU55 CAC 50C


 1811 Small 8 O-105a PCGS AU55 CAC 50C                                    1812 O-105a PCGS AU55 CAC 50C     


 1813 O-106a PCGS AU50 CAC 50C                                        1814 O-104a PCGS AU55 CAC 50C 


 1818 O-109 PCGS EF45 CAC 50C                                         1819 O-109 PCGS EF45 CAC 50C 


 1820 O-105 PCGS AU55 CAC 50C                                         1821 O-105 PCGS EF45 CAC 50C 


1822 O-106 PCGS EF45 CAC 50C                                         1824/4 O-110 PCGS AU55 CAC 50C 


1825 O-115 PCGS AU55 CAC 50C                                         1826 O-110 PCGS AU50 CAC 50C 


1827 O-104 PCGS AU50 CAC 50C                                           1828 O-112 PCGS EF45 CAC 50C 


1829/7 O-101 PCGS EF45 CAC 50C 


More CAC Approved Better Date Indian and Lincoln Cents

Yes, I am aware that Indian and Lincoln cents are not central collecting objectives for most Blog readers.

However, Indian and Lincoln cents played an important role in many young numismatic careers. They certainly did for me when plying through bank rolls in hopes of finding San Francisco mintmark dates way up in Maine. I still have those initial Whitman blue folders as a reminder of my humble origins in the Hobby of Kings. As a semiconductor career developed and spending power increased, I moved to Liberty Seated dimes as a lifelong challenge that has served me well.

Following are several outstanding better date examples in the Indian and Lincoln cent series. I would have been blown away to have access to any of these pieces when a young teenager. Please check the price list as I will be posting these and more throughout the day. Once this lot is fully loaded, a Collectors Corner update will take place on Sunday. I'm certain that CAC approved better date cents will not last long once published to a wider audience.


More CAC Approved Better Date Indian and Lincoln Cents

1909-S NGC MS62BN CAC 1C                                                   1909-S NGC MS64RD CAC 1C


1913-D NGC AU58BN CAC 1C                                                     1914-D NGC F15BN CAC 1C


  1871 NGC AU58BN CAC 1C                        1909-S NGC VF25BN 1C                         1931-S NGC EF45BN CAC 1C



Wrapping Up The Blog

I'm well beyond the regular Blog publishing time and best to get going with another GFRC office day. Shipping is on the light side which means extra time to load new offerings to the price list and the preparation of a special client gallery display for Sunday's Blog edition.

Thanks for checking in at the Blog. Good luck to those who wish to acquire Burrowing Owl lots.

Finally, please be safe and careful with respect to health. Covid-19 cases are increasing again as the country begins to open up. Here in Florida and Sarasota County, there is a notable increase in positive cases. We are not out of the woods yet.




April 2, 2021

A 1909-S VDB Lincoln Cent Hoard - No April Fools' Day Joke


Another FedEx Troublesome Delivery - Ain't Using Them Anymore


Greetings on Good Friday and welcome to the Daily Blog. Thank you for stopping by.

Another week flies by in the GFRC office with the U.S. coin market remaining hot. Demand is outstripping supply though with a caveat. Much of the demand has shifted to CAC approval coins. Freshly made CAC coins are moving out as quickly as being loaded to the price list. For example, the two CAC approved 1909-S VDB Lincoln cents, that are featured next, are already spoken for. Unquestionably, the GFRC community is becoming more attentive and sophisticated by the day.

Moving to the GFRC Online Auctions platform, the Burrowing Owl sale is entering its finale. I've spoken repeatedly about the collection's quality and uniqueness. The rest is up to the small group of passionate bidders that will start appearing later today with future ownership resolution arriving tomorrow evening.

Yesterday brought an overdue task. Part of the Cumberland County Collection consignment was a lot of 31 raw Liberty Seated halves in a Dansco Album. Much of Thursday afternoon was spent loading the pieces in the COIN system along with grading, surface evaluations and GFRC quality rating assignments. This lot has moved to a long 2x2 box and is ready for photography. The individual halves remain in their raw condition as most will not straight grade for one reason or another. This lot will be brought to the price list with short descriptions as the intended audience are individuals who are building Dansco or Whitman album collections. Pricing will be consistent with surface quality.

U.S. gold price list inventory has been been slowly shrinking as Dan and I are struggling to locate CAC approved gold that is priced at reasonable levels. We've been carefully picking away at opportunities and amassing about a dozen offerings that will also be photographed today.


A 1909-S VDB Lincoln Cent Hoard - No April Fools' Day Joke

Yes, today is Good Friday and no longer April Fools' Day. However, I could not resist going with an April Fool's Day headline given the product offerings. I'm sure a few readers are surprise to see GFRC offering a four piece 1909-S VBD hoard. Doesn't it seem out of character for a Liberty Seated coinage specialist selling Lincoln cents?

This is the nature of the coin business. A new client wished to exit his better date Indian and Lincoln cents towards raising numismatic capital. That client is redirecting monies into another collecting adventure and is sourcing the initial coins from GFRC. Strong customer-dealer relationships are paramount in our hobby.

Here is a cool four piece hoard of the legendary 1909-S VDB Lincoln cent. All have been posted to the price list and are ready to be shipped to new homes.

As a side note, I am pleased with the photography and resulting images. Through image processing experimentation, I've successfully designed a new process for color matching Indian and Lincoln cents. The new process requires a second color adjustment step prior to the final application of contrast and sharpening. I can say with 100% confidence that the following images EXACTLY match the coins in hand.


A 1909-S VDB Lincoln Cent Hoard - No April Fools' Day Joke

  1909-S VDB NGC EF45BN 1C                                                   1909-S VDB NGC EF40BN CAC 1C


         1909-S VDB PCGS EF40 1C                                                 1909-S VDB NGC VF20BN CAC 1C       



Another FedEx Troublesome Delivery - Ain't Using Them Anymore

Though GFRC has returned to USPS for its coin shipments, there was one client who requested that I use FedEx. His reason was the backed up New Jersey USPS distribution centers where packages can stall out for a week or more. Being a service orientated individual, I did not argue and shipped his coin via FedEx and prayed for a smooth delivery. Thursday afternoon brought the following email with the conclusion that the individual will never use FedEx again. Read on...


I got the FedEx today and am very pleased with the coins I purchased.

You may have seen that the initially scheduled delivery date was Wednesday 3/31- yesterday.

It didn’t arrive as scheduled but was reset for delivery today by 4.30  and I could see that the package made it to the truck from our suburban Phila FedEx hub.

Today at 4:20 I checked the FedEx site and saw it had been delivered and signed for. I knew it wasn’t delivered to my office and immediately went to the hallway to see if it was left at the door.

I found it laying on the floor at a door of  the only other office on the floor that has a different suite number. Our office is 20 feet further down the hall and has a person in front, the office where it was dropped is dark.  Looks like our FedEx  driver signed for me and left per the FedEx online delivery confirmation document.

I would say FedEx is here almost every day so situation has to be related to a new driver. If FedEx had a method to register a complaint I would do so. Like you, I'm done with them.

If I hadn’t checked the FedEx site we might have had a disaster. At least that was operating although I never got email status reports.

Thought you’d like to hear about this delivery saga.

Bottom line, FedEx moves packages more quickly that USPS. However, FedEx delivery execution is like playing Russian roulette. There is zero accountability for securing Direct Signature confirmation. Frankly, a group of customers should unite and file a class action lawsuit against FedEx for misrepresentation of services provided. Customers are paying up to $5.50 per package to secure a Direct Signature from the receiver. FedEx is not executing that service and just pocketing the monies. This is an example of corporate America run amok while hiding behind the Covid-19 pandemic.

Ain't Using Them Anymore.......

I will be clearing out all FedEx shipping material stock from the GFRC office as I can't be playing Russian roulette with four figure shipments.


Global Financial News

U.S. stock markets are closed today in observance of Good Friday. Thank goodness that cancel culture has not attacked this holiday.

Thursday brought another positive day for Wall Street with the DJIA climbing to 33,133 and the NASDAQ recovering to 13,480.

Gold prices have also returned to $1730/oz, a positive development for the yellow precious metal. Gold has tested the 1680/oz level twice and quickly recovered both times. Is this the bottom that traders and collectors have been waiting for?


Wrapping Up The Blog

Good Friday brings another typical GFRC office day. Morning shipping is reasonable and will allow extra time for image processing and loading more offerings to the price list. There are many fresh coins waiting in the photograph queue including a substantial amount of U.S. gold.

Thanks again for checking in at the Blog.




April 1, 2021

Time to Get Serious for the Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale


Realizing an Early Numismatic Dream


Greetings and welcome to the Daily Blog. April Fools' Day is upon us.

We open today's Blog with a well timed piece from Seth Godin. Sadly, modern life in the information era requires people to grow more skeptical of others by the day. The news media is manipulative and biased with no apologies. It is what it is. Liberty has come to mean freedom to operate on an immoral basis without self respect. Greed and power are powerful motivators. The Internet and social media are the enablers for con artists in all walks of life.

As a small business owner with a strong on line presence, the incoming flow of email scams, phone solicitations, and poorly prepared petitions for SEO and website redesign services never ends. The current experience with a non-delivered package by FedEx and no attempts to investigate or provide meaningful customer support is another disappointing example. Trust of our fellow humans (or business entities) to do the right thing continues to wither. This is sad as my natural instinct is to extend trust to every person or business entity until it is violated. I can understand an honest mistake as I've made my share in life and with GFRC. But once that trust is badly damaged, I cut ties. Case in point is FedEx. I'm done with FedEx as their service recovery is non-existent. FedEx is a speedy alternative to the still struggling USPS until there is a problem. Thank goodness the loss is only $1800 and not higher.


Seth Godin Blogpost - No fooling

When the world was small, our understanding of ‘reality’ was consistent, which is why a good April Fool’s joke felt right. It tweaked the normal just enough to cause us to wonder about what else might not be as it seems.

But the onslaught of manipulated media and amplified division has pushed us away from our small circle of reality. Now we’re aware that so many people have a different lived experience than we do. And we are exposed–sometimes several times a minute–to falsehoods, scams and bullying.

The first of April was a day when we were supposed to be aware that not everything was as it seemed, that we should be on our guard. And now, exhausting as it is, every day is like that.

I’m hopeful that our culture is resilient enough to get back to the truth.

Show your work. Earn attention and build trust. Every day.

Too much spin simply makes us dizzy.


Time to Get Serious for the Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale

The Burrowing Owl auction finale is quickly approaching and arrives on Saturday. Exactly half of the lots have met reserves with several bids on the gem 1817 and 1823 halves. Those lots without bids are higher priced but no less desirable. Following are four earlier Capped Bust half dollar dates that remain unattached.

1807 Lg Stars 50/20C, O-112 PCGS EF45 50C                                    1808 O-109a PCGS EF45 CAC 50C      


    1810 O-101a PCGS AU55 CAC 50C                                           1815/2 O-101 PCGS EF45 CAC 50C



All eyes will be on the 1817 and 1823 gem halves come Saturday evening. Both lots have two bids and are well above their initial reserves. Will the 1823 become a $2000 coin? Please keep watching the GFRC Auction page for the upcoming finale.

1817 O-110 PCGS AU55 CAC 50C                                            1823 O-106a PCGS EF45 CAC 50C

Current Bid - $1625                                                                       Current Bid - $1650  



GFRC Enjoys Record 1Q'2021 Sales

The first quarter of 2021 brought record sales volumes and is a testament to the voracity of the U.S. coin market.

I'm pleased to report that GFRC sold 884 coins during the January through March time frame. A 25% year-on-year volume increase is a big deal for the operations staff including the huge packing and shipping department. Many new clients found GFRC during early 2021 and hopefully, they were pleased with the fast service and quality coins.

Sales revenue, for the 1Q'2021 period, increased further by 35% as we are selling and shipping higher priced coins coupled with the increased volume.

Liberty Seated and Capped Bust halves brought top demand while U.S. gold sales languished in sympathy will a drop in spot gold pricing.

Why is GFRC continually growing? I believe there are several reasons.

- Attention to customer service plus fostering and nurturing long term relationships

- An awesome on line presence that differentiates GFRC from other dealers of similar size

- Selectively stocking quality coins at fair prices

- And most important, honesty and straight talk. Trust is a big deal at GFRC.


Realizing an Early Numismatic Dream

I'm certain that many Baby Boomer collectors remember their days of filling Whitman blue folders with Lincoln cents, Buffalo nickels, and Mercury dimes. There were the ever present holes in those Whitman folders for the legendary key dates. The Lincoln 1909-S VDB cent and Mercury 1916-S dime immediately come to mind.

Last week, GFRC purchased a quality lot that contained three 1909-S VDB cents (NGC EF45, NGC EF40 CAC, NGC VF20 CAC) and a gorgeous 1916-D Mercury dime that is illustrated next. I've entitled this brief segment as Realizing an Early Numismatic Dream as a reminder to myself and Blog readers that dreams do come true with patience and persistence. Though I have long abandoned the circulated Mercury dime set in an old Whitman folder, handling this legendary 1916-D dime brings back fond memories of a young numismatist who was enamored with the Winged Liberty design and the challenges posed by the better dates.

This perfectly original and eye appealing 1916-D dime is available on the 30 Day Price List.


Realizing an Early Numismatic Dream

The Legendary 1916-D Dime - NGC F15 CAC 10C


GFRC Consignment Window Open April 10

A brief reminder that the GFRC consignment window re-opens on April 10. The next ten days will provide adequate time to process the remaining consignment backlog.

GFRC is seeking Liberty Seated, Draped/Capped Bust, and Barber coinage consignments across all denominations. Of course, let's not forget U.S. gold. I'm also excited about growing Standing Liberty quarter inventories.

If considering the divestment or liquidation of a numismatic collection, GFRC would be pleased to facilitate those goals. It is realized that collectors have many dealer and auction house options. Hopefully, the GFRC website and selling philosophies will garner your trust.


Global Financial News

Global equity market optimism reigns as we start a Thursday trading day. Morning market futures, courtesy of Seeking Alpha, are flashing upbeat green openings in Asia, Europe, and the U.S. Note that the NASDAQ is showing a 1% increase as monies are pouring back into Big Tech.

In Asia, Japan +0.7%. Hong Kong +1.9%. China +0.7%. India +0.7%.

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

Futures at 6:20, Dow +0.1%. S&P +0.3%. NASDAQ +1%.

Gold made a quick recovery to its short lived dip below the $1700 level yesterday and is quoting at $1719/oz this morning. Crude oil is flat at $60.37/bbl. Bitcoin appears ready to break through the $60,000 level with a morning quote of $59,286.

The 10 Year U.S. Treasury yield has receded ever so slightly to 1.72%.


Wrapping Up The Blog

The GFRC Maine office migration is exactly one month away. The countdown clock has started for taking delivery of the JD2025R tractor and taking a slower approach to the coin business.

Seriously, I will be in the office the entire day processing a host of coin images to enable the next GFRC Online Auctions offering. Please feel free to call in orders or discuss potential consignments or the sale of a major collections.

Thank-you for checking in at the Blog. Please remember to be safe and well.





March 31, 2021

Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Quiet Period


Houston Collection Highlights to Consider!


Greetings on the final day of March 2021. Thank you for checking in on these daily ramblings.

Unfortunately, this morning brings little in terms of posting creativity. When lacking prepared content, a default is to discuss the GFRC business and personal experiences as an on line coin dealer. This is my life until returning to Maine. Once back in Maine, there will be tons of fresh content to share. The new John Deere 2025R tractor, its implements, plus regular reporting of chipmunk shooting activities will keep the Daily Blog populated with fresh content. Anyone wish to purchase a massive Estes model rocket kit collection? This is another spring time goal as I must clear space in the basement workshop for John Deere tractor supporting tools. Are you suggesting that a visit to the Blog is to check for new GFRC coin offerings? Sorry....

The GFRC business has been operating at an unprecedented sales volume throughout March. Handling these volumes brings intense focus and commitment by our huge two person staff. Come early April, the staffing will be reduced by 50% when Diane flies to Austin for two weeks of granddaughter Ivy child care. Time for wild parties in Venice? Doubtful as I will be working even long hours to compensate for the incremental workload.

I've come to realize that there is a direct correlation between over night dream intensity and the time taken to relax prior to bedtime. Readers should understand that a typical GFRC day starts at 5:00 AM and runs non-stop until 4:00 PM. The two hours between 4:00 and 6:00 PM are allocated to a health walk, pre-dinner drinks, and cooking dinner on the grill. Afterwards, I'm back in the office for the "evening shift" which is mostly an attempt to load image galleries for the upcoming day's Blog edition along with responding to yet more email orders.

Imagine operating this way across all days of the week with only Sunday mornings bringing a reprieve from time in the shipping department? This operating mode will last for another four weeks during April. Afterwards, the readership will see a more relaxed blogger once the Maine office migration takes place. I will be slowing down the GFRC business and shifting into the "summer mode".

Tomorrow brings the first of April and a brief report out on Q1'21 and March sales levels. Sorry, there is no time to devise a clever April Fools' Day rouse.


Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Quiet Period

As in past GFRC Online Auctions, the mid-week period brings the quiet before the end of week bidding storm. We find the Burrowing Owl auction in its own quiet time frame as only one bid was placed on Tuesday.

The behavior of GFRC Online Auctions bidders is very predictable and can be illustrated by using a Google Analytics extract. Following is a daily pageview plot for the GFRC Auction page. I've plotted the past Cumberland County and Sunset Collection sales and marked the "Preview" and "Bidding" portions of the auction cycle. The same was done for the current Burrowing Owl event.

If looking carefully, a repeating pattern takes place for each auction. Pageviews begin to increase once the online catalog is posted. That posting period lasts one week. Next comes the first day of auction bidding with a pageview spike. That spike settles down during the bidding week until Friday/Saturday. The final 48 hours of each auction brings a large pageview spike. Let's remember that the number of offered lots in each sale will correlate to the height of the final bidding spike. For example, the Cumberland County sale had about 2x the number of lot in the Sunset Collection sale. Given that fact, the Sunset bidding spike was impressive.

Google Analytics Pageview Trend Line for GFRC Online Auctions

Late January Through March 2021


Houston Collection Highlights to Consider!

Tuesday afternoon brought more "Houston Collection" consignment offerings to the 30 Day Price List. This sale is moving along quickly and is well subscribed.

Below are four additional offerings that were photographed on Tuesday and will be posted to the price list today along with several others that are still in the image processing loop.

Please note the magnificent 1795 3 Leaves Flowing Hair dollar that is the primary highlight of the "Houston Collection". This piece had an early First Right of Refusal and is already sold! To learn the selling price, please visit the price lists after lunch time. How about that 1877 Trade dollar graded PCGS G04 with CAC approval. Isn't that one so cool given that Trade dollars were not know to have circulated extensively. The only explanation for the heavy wear is usage as a "pocket piece" which made for even wear without abrasions. I bet that John Frost would like to own this one due to the cool factor and displaying potential at LSCC club table exhibits.


Houston Collection Highlights to Consider!

1795 3 Leaves PCGS VF20 CAC $1

  1819 Sm 9 PCGS F12 CAC 25C                    1859-O PCGS EF40 CAC $1                        1877 PCGS G04 CAC $1       



Global Financial News

The primary news of the day on the financial front is gold prices taking a spill to $1685/oz. This is the second test of the $1680 level for the precious metal. Will that level hold or will gold gap down into the lower $1600s during the month of April? Remember the wise old sage who said to buy when there is blood in the streets.

Morning market futures, courtesy of Seeking Alpha, are essentially flat and suggest that broader markets are in a consolidation phase. Consolidations periods are troublesome for those in the 24 hour financial news cycle business. I'm reading Seeking Alpha headlines that attempt to correlate each small market movement to some politic or global event. This is the reason for the lack of Seeking Alpha headline posting in the Blog. I'm just not buying this stuff...

In Asia, Japan -0.9%. Hong Kong -0.7%. China -0.7%. India -1.1%.

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

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

Crude oil is mostly flat at $60.30/bbl while Bitcoin pricing remains elevated at $58,091. The U.S. 10 Year Treasury stands at 1.74%.


Wrapping Up The Blog

Another morning of order responses and shipping awaits me. The time has come to wrap up a day's ramblings.

Of course, I will be in the GFRC office the entire day processing more consignments and the forthcoming Newtown Collections's Ultimate Liberty Seated Half Dollar Set Sale auction lot.

Early April brings the closing of the Burrowing Owl auction sale and a host of more consignments to post. Please remember that the GFRC consignment window is closed until April 10. I will promptly open the consignment insourcing window through the end of April. My goal is to accomplish consignment photography under the bright Florida sun while image processing can take place in the Maine office.

If wishing to ship consigments starting on April 11, please send along an email pre-alert for planning purposes.

The GFRC Online Auctions platform is seeking a major auction lot for the June/July timeframe.

Thank-you for visiting with me at the Blog. Be safe and well as Covid-19 cases are rising again. I've heard that two coin dealers contracted the virus after attending a PCGS Invitations Coin Show. One must still remain vigilant.




March 30, 2021

Bidding for Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Heats Up!


What is a Box Blade?


Greetings on a Tuesday morning and welcome back to the Daily Blog.

The U.S. numismatic market is roaring forward as we move into Spring 2021. As millions of Americans are vaccinated each day, optimism is growing for a returning national coin show circuit. Smaller regional shows are paving with the way with the "Gettysburg" and "Manchester" shows taking place in the upcoming two weeks. Unfortunately, GFRC remains in Florida through April and is unable to attend the "Manchester" event. However, we will exhibit at the Fall 2021 show.

My FedEx saga continues with the realization that FedEx could care less about the situation. Calls for an "investigation" status report produce the same results; Ongoing! This situation reminds me of the days at CSMC in Wuxi, China. When the factory had a typical screw-up that impacted product delivery for a U.S. customer, the engineering manager in charge would cite "Ongoing" for the investigation until everyone (but me) forgot about the mistake. My advice to anyone reading the Blog is don't make the mistake that I did by trusting FedEx. If FedEx does not accept responsibility and provides documentation for an $1800 insurance claim, GFRC must write off the lost. They are empowered by Covid-19 with an ability to mis-deliver without accountability. The carrier's C19 touch pad signature is all the evidence they need. How could a FedEx carrier possibly make a mistake?

Visions of being back in Maine and developing the back 20 acres continue to provide energy for continual focus on a growing GFRC business coupled with providing the best possible service to every client. The best times of the day are lunch while absorbing Youtube videos on farming, driveway construction, and forest management. Second to the lunch time continuous learning sessions are health walks along the Blackburn Canal. The common theme is being close to nature.


Bidding for Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Heats Up!

I'm pleased to report that the Burrowing Owl Collection auction is already at the 50% subscribed point after several days of bidding. Multiple bids are appearing including the Gem 1823 PCGS EF45 CAC half currently up to $1650.

One lot that does not have a bid must be call out today. When preparing the auction lots and reserve prices, there were interactions with the consignor. He shared many stories about the construction of this marvelous collection. In particular, he made clear that the 1826 O-110 PCGS AU50 CAC half was his favorite of the group. To quote the Burrowing Owl, "If the 1826 half does not sell, I will gladly take it back!". If Blog readers could contemplate this piece with in-hand and bright light viewing, the Burrowing Owl's passion for this piece might be understood.

Another one of the cataloger's favorites that remains unloved is the 1808 O-109a PCGS EF45 CAC half. Stately, bold, and impressive with thick toning describes this superior example. The GFRC images accurately capture the old time patina and absolutely original surfaces.


Burrowing Owl's Unloved Favorites as of Tuesday Morning!

1808 O-109a PCGS EF45 CAC 50C                                              1826 O-110 PCGS AU50 CAC 50C   



What is a Box Blade?

I've been mentally working through the process of preparing and maintaining roughly 1.5 miles of walking trails in the Maine back 20 acres. Once Dave Wilkinson cuts a path through trees and large rocks with his excavator, the remaining roots and smaller rock clean-up is my responsibility. Last summer, I spent considerable time with branch cutters, rake and shovel to render the first trail walkable "with attention" once trip hazards were removed. However, hikers must still pay attention to the forest floor for uneven surfaces.

Monday brought conclusions and a purchase decision for the appropriate "implement" to easily condition the back acreage trails. The solution is a "box blade".

What is a box blade you might ask? Following is an image taken directly from the John Deere website that illustrates a four foot box blade implement on the back of a John Deere `1025R compact tractor.


A box blade might appear to be simplistic based on the above image. It appears to be nothing but a metal box being dragged behind a tractor.

It turns out that a box blade is one of the most useful implements that one could own with a tractor for conditioning rough land, spreading materials, and establishing a grade. A box blade consists of three important parts, the heavy metal "box" for downward pressure and surface planing, the sharp back cutting blade, and an internal frame that supports "scarifier" teeth. The scarifier teeth are adjustable to ride inside the box when planing a surface, or can be extended 2-4 inches below the box to dig up the surface. The sharp blade is designed to cut through vegetation and small roots.

Conditioning a fresh walking trail is a three step process with a box blade.

- First is the task of dragging the box blade across the Maine homestead trails with the scarifier teeth extended. Multiple passes will enable the cutting of residual surface roots and exposing remaining rocks that will eventually ride to the surface after a few winter frost heaves.

- The box blade is removed from the tractor and replaced with the backhoe. The backhoe is employed to dig out surface rock and any larger exposed roots. Once that task is completed, the box blade is again used to partially level the earth for the final step.

- The final step is adding a layer of crushed gravel to the walking trail surface and carefully grading the gravel to partially mix with the underlying earth. There are two reasons for this. First is mud mitigation when walking on the trail after wet weather conditions. Second is the reduction of vegetation growth and the chance of picking up wood ticks during normal trail usage. The gravel layer is easily maintained by dragging the box blade across the surface to break up new vegetation growth. Additional gravel can be easily added every few years with the trails being made new.

On Monday, I called Bob Jackman at Hall Implement. Bob has been selling farm tractors and implements for decades and is a true Mainer. He advised that steel prices continue to climb leading to ongoing price increases for heavy implements and tractors. Sure, I could purchase a "cheaper" box blade on Amazon made of light weight steel and questionable longevity if being using frequently. Delivery is also an issue as demand is far out pacing John Deere's ability to manufacture its quality branded implements. Bob had only one five foot box blade in stock with upcoming restocking deliveries delayed until mid-August. His lone BB2060L box blade would be an ideal match for the JD2025R and back trail grading requirements. I committed on the purchase with Bob placing the implement on hold for Maine arrival.


Global Financial News

Looking at overnight financial market developments, the 10 Year U.S. Treasury bond yields has moved up to 1.76% with spot gold breaking below the $1700 mark at $1698/oz.

Otherwise, global equity markets remain bullish with green morning market futures except for the tech heavy NASDAQ.

In Asia, Japan +0.2%. Hong Kong +0.9%. China +0.6%. India +2.3%.

In Europe, at midday, London +0.4%. Paris +0.6%. Frankfurt +0.7%.

Futures at 6:20, Dow +0.4%. S&P +0.1%. Nasdaq -0.6%.

Crude oil prices have increased to $61.17/bbl as the summer driving season arrived in just 30 days.


Wrapping Up The Blog

The overnight brought a substantial number of orders that will be responded to after a quick shower. Once Diane is back from walking Buddy the Dog, the packing and shipping department will kick into action for another day. The shipping backlog appears moderate for once.

Yes, I will be in the office the entire day working on a host of items as March comes to a close. Last evening's orders takes March beyond the 300+ sold coins threshold with the likely possibility of selling 875 coins in the first quarter of 2021. This would be a 23% volume increase over 2020 when GFRC exhibited at the Winter FUN and Atlanta Spring ANA shows prior to the Covid-19 pandemic arriving to U.S. mainland.

Thank-you for stopping by at the Blog.




March 29, 2021

Bidding for Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Grows


The "Houston Collection" Consignment Announcement


Greetings and welcome to the Blog on a Monday morning. Thank-you for starting a new week with GFRC ramblings and the "Houston Collection" announcement.

Life is slowly returning to "normal" as was the case last evening. At the kind invitation of Dan White and Rose Marie, the Fortin's attended their first social event in over a year. How refreshing it was to forget face masks and spend a lovely evening in the company of two elegant individuals. Dan and Rose Marie have received both Covid vaccinations and were ready to entertain guests (and that they did). Fine spirits and wine, a fantastic salmon main dish with Belgium style vegetables, and relaxed conversations made for a memorable evening.

Hopefully, a face mask will be a forgotten accessory in the not too distant future once the overall population is vaccinated.

A Monday morning arrives with overnight orders requiring attention and a substantial amount of packing and shipping. My apology for not posting those "Exceptional" Liberty Seated coinage offerings to the price list on Sunday afternoon. Instead, I spent most of Sunday loading two consignments into the COIN system for a roll-out in the coming 72 hours. Before long, the GFRC consignment window will re-open on April 10. Best to move quickly to process in-house consignments in parallel with the Newtown Collection's Ultimate Liberty Seated Half Dollar Set Sale.

Bidding for Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Grows

Sunday saw incremental bidding for the fine offerings in the Burrowing Owl's CAC Approved Bust Half Dollar Set Sale.

Ten of the twenty-two lots currently enjoy bids. On a percentage basis, this is best bidding ratio since the inception of the GFRC Online Auctions platform at the Monday morning mark. Interestingly, nearly all lots reserved under $1000 have bids while those over that mark do not.

Let's me share some advice.... This gem 1817 Capped Bust half is worth every dollar of its $1500 reserve price and should have an initial bid at this point. Please stop for a moment and imagine this gorgeous early half as a core component of a type set collection. Between you and me, as a collector, I might even bid on this gem 1817 half and the 1823 for inclusion in my own collection. I've spent much larger sums for coins with considerably less eye appeal. In the end, our collections are all about eye appeal and rarity, right?


Burrowing Owl's Eye Candy Feast - Forget The Price Guides!

1817 O-110 PCGS AU55 CAC 50C                                                1823 O-106a PCGS EF45 CAC 50C   



The "Houston Collection" Consignment Announcement

For several weeks, I've been teasing the announcement of an important Liberty Seated dollar collection arriving to the GFRC price list. That teasing shifts to reality today.

Following are the contents of the "Houston Collection" for your consideration. There are some generic First Right of Refusals in the email Inbox that I will graciously attempt to service. However, there are no guarantees as my policy is to open First Right of Refusals when an itemized announcement is made. Today brings that announcement. Most of these offerings were purchased from GFRC during the past several years. If curious, you are invited to check the Sales Archive and match the following listed coins with sales records in the Archive.


"Houston Collection" Consignment Highlights

1847 NGC AU58 CAC $1                                                   1848 PCGS EF40 $1


 1856 PCGS VF30 OGH $1                                                   1870-CC NGC EF40 $1



Flowing Hair $1: 1795 3 Leaves PCGS VF20 CAC, a superb crusty gray offering

Seated $1: 1842 PCGS EF45; 1843 PCGS EF40 CAC; 1846 PCGS AU50 CAC; 1847 NGC AU58 CAC; 1848 PCGS EF40; 1849 PCGS EF40; 1850-O PCGS F12; 1856 PCGS VF30 OGH; 1859-O PCGS EF40 CAC; 1859-O PCGS PO01 CAC a gem and ideal for Low ball set; 1859-S PCGS VF25 very difficult; 1870-CC NGC EF40; 1872-S PCGS AU50 so rare

Trade $1: 1877 PCGS G04 CAC and another gem for a Low Ball set

Seated 5c: 1853-O Raw VF30, 1870 raw EF45+ both from Dr. Glenn Peterson's Dansco albums

Seated 25c: 1853-O Briggs 3-E PCGS G04 CAC; 1853-O PCGS VF20 CAC; 1859 PCGS VF25

Seated 50c: 1860-O PCGS VF35; 1861 PCGS EF40; 1872 PCGS VF25

Liberty Seated Collectors Club: Frosted and Proof 40th Anniversary Medals, sold as a pair

Pricing has already been approved by the consignor and is fair for all parties. There will be NO consideration for offers or attempts to negotiate a discount for multiple item purchase. This collection was carefully assembled with all but two coins being assigned Choice Original quality ratings.

If my week goes as planned, the "Houston Collection" will begin posting to the price list on Wednesday.


Global Financial News

Another trading week arrives with a bizarre opening headline from Seeking Alpha. Last week brought a flurry of financial newsletter warnings of a potential market crash on March 29. The newsletter are resorting to ever increasing inflammatory headlines to garner attention in the social media age. By the way, social media is the latest "drug" of choice for many and should be classified as such.

OK, here is the March 29 opening Seeking Alpha headline for some brief head scratching. U.S. equity markets were up on Friday, by the way.

Archegos implosion

Wall Street is on tenterhooks as the fallout from a hedge fund implosion that roiled the stock market Friday moves to its second trading day.

Traders will be “glued to their screens,” one portfolio manager told Bloomberg. Archegos Capital, the family office run by Bill Hwang that was pushed to liquidate, was forced to sell more than $20B of stocks on Friday after margin calls.

Archegos, a biblical word that means “prince,” led to a tumble in ViacomCBS, Discovery and Chinese internet stocks after a margin call.

Hedge fund manager Bill Hwang formerly ran Tiger Asia Management, a spin-off from hedge fund legend Julian Robertson's Tiger Management.


Morning market futures indicates a moderate retreat for U.S. equity markets at the 9:30 AM open. To maintain proper perspective, a 0.6% drop for the DJIA is only 200 points.

In Asia, Japan +0.7%. Hong Kong -0.1%. China +0.5%. India closed.

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

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

Crude oil and gold remain range bound at $60.50/bbl and $1726/oz respectively. Bitcoin is priced at $57,312.

The 10 Year U.S. Treasury yield stands at 1.66%


Wrapping Up The Blog

I hope that you've enjoyed today's ramblings and some spontaneous comments.

The morning shipping queue is jammed packed and will keep Diane and I busy through lunch time. Afterwards, I will be posting the "Exceptional" Liberty Seated coinage offerings, featured in Sunday's Blog, to the price list.

Thanks again for checking in at the Blog.




March 28, 2021

Bidding for Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Commentary


Exceptional Liberty Seated Coinage to Consider


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

Each day, a morning starts with breakfast in front of the laptop. Some mornings brings a high energy state and intellectual curiosity while others bring questions for the rational behind these daily ramblings. I'm in the latter camp today and dreaming of being back at the Maine homestead with an office window overlooking the front yard landscaping. Wildlife movement (birds, squirrels, and yes chipmunks) is soothing. So far, I've had no luck in convincing Diane to head back to Maine during late April. Her response is mud season for walking Buddy and colder temperatures than Florida. These are obvious statements that are difficult to counter.

Therefore, I sit in the masonry GFRC Venice office with Janis, Grace, and Jerry watching over me and dreaming of being back in the Maine office. Hopefully, today's Blog composition will be constructive.


Opening Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Commentary

Checking the Burrowing Owl online auction page revealed a reasonable amount of opening bidding with six of the twenty-two lots guaranteed to be going to new homes. Staking out maximum bidding positions early in an auction may lead to success during the auction close. Every collector has a bidding strategy which will unfold during the coming week.

Bottom line, the Burrowing Owl Collection is a superior offering with exceptional pieces. I hope that Capped Bust half dollar collectors will appreciate the painstaking efforts to assemble this collection and bid accordingly.


Exceptional Liberty Seated Coinage to Consider

Speaking of exceptional coins, let's head back to Liberty Seated coinage for the latest GFRC new offerings.

The ongoing presentation of top quality coins may go unappreciated by many who frequent the Blog. Have you considered the amount of time and energy that is required to source a steady flow of new offerings? Fantastic coins don't tip-toe and tap you on back with an announcement that I'm here! Just as collectors struggle to locate core specimens or upgrades, so does GFRC. The difference is that a coin dealer like GFRC works full time on the matter and develop sourcing channels. Those channels take years to construct along with the occasional good luck when quality pieces are offered for purchase.

Following are nine superior coins to consider. Let's take a walk through the "coin garden" as I'm still dying to be back in the Maine office.

The 1837 Small Date Seated half dime is a late die state V-6 with obverse die spalling below the right facing arm and above the top left. What a thrill to be offering an example at the MS65 grade level with bold diagnostics. Next in the marquee section of the gallery is a rare 1856 Seated dollar that is perfectly original with CAC green bean. If there is extra time this morning, please check the CAC population report for this date as crazy low. There is a single AU53, three at AU55, followed by two each at MS63 and MS64. Frankly, if building an AU Liberty Seated dollar set and requiring CAC approval, there are four possible coins extant.

We continue the walk through the "coin garden" with a stop at an 1866 Motto Seated dollar graded MS62+ with CAC approval. This piece screams radiant frosty luster with some field chatter consistent with the assigned grade. The last stop in the marquee section is a first year issue Trade dollar in high grade Mint State. Surfaces are toned with natural copper, gold, and aquamarine shades.

The tour continues with lower price items but no less beautiful. The 1838 No Drapery half dime offer gorgeous toning and is presented in an NGC Fatty holder with CAC approval. Colors continue to dominate with a nicely toned 1871 PCGS MS64+ Seated half dime. For those seeking a top shelf 1853 A&R quarter for a type set, the next offering on our tour is worthy of a long review. This piece is unquestionably original with steely coloring. 1874 and 1888 Liberty Seated quarters round out our morning tour.

Look for these lovely items to reach the price list during the afternoon hours. Of course, First Right of Refusals are always welcomed. Not surprising, I received two quick inquiries on the 1856 dollar last evening.


Exceptional Liberty Seated Coinage to Consider

1837 Sm Date LDS PCGS MS65 CAC H10C                                            1856 PCGS AU53 CAC $1              


1866 Motto PCGS MS62+ CAC H10C                                            1873 Trade PCGS MS64 $1          


1838 NGC MS63 CAC Fatty H10C                  1871 PCGS MS64+ CAC H10C                1853 A&R PCGS AU53 CAC 25C  


1874 Arrows NGC MS63 25C                      1888 PCGS F12 CAC 25C



Wrapping Up The Blog

The 8:00 AM publishing time has arrived and a good excuse to end at this point.

Yes, I will be in the GFRC office for most of the day. No shipping on a Sunday allows for catching up on administrative tasks.

Thanks for checking in. Hopefully, I will be more energized on Monday morning.





March 27, 2021

Who Will Bid at Tonight's Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale?

Newtown's Ultimate Liberty Seated Half Dollar Set Sale Lots


20th Century Eye Candy for the Weekend!



Greetings on the final weekend in March. Will GFRC be transitioning to the Maine office in just 30 days?

Let's get started as there is much ground to cover in today's Blog edition.

Thanks to a relentless effort in growing the GFRC business and the support of hundreds of satisfied customers, we set an important sales revenue milestone yesterday. GFRC first quarter 2021 sales have cross through the seven figure level with five business days remaining in March. Coin volume is also well ahead of last year's first quarter rate and should easily approach the 875 piece threshold by end of month. No wonder that Diane and I are busy each morning in the shipping department as our ship rate is averaging slightly above 10 coins per day as we don't ship on Sunday.

This week also brought a Collectors Corner strategy change. Gone is the "make an offer" placard for GFRC listings. Given the strength of the current numismatic market, the need to entertain offers from individuals who are mostly fishing for a deal is not worth the time involved. The primary challenge is allocating my energies towards loading new coins to the price list! The Collectors Corner offers became a distraction, especially those that were low balls.

The launch of the GFRC Online Auctions platform in late 2020 has enable an ever increasing market visibility and dozens more customers learning about our quality coins and superior services. As new customers expand ongoing order rates, sales volumes continue to increase. Has the Covid-19 pandemic had a positive impact on the GFRC business? Absolutely, online shopping has supplanted coin show purchases. Online orders are much more efficient to sustain than the efforts to travel to/from coin shows, exhibiting days, and the packing/unpacking of inventory. When the coin show circuit returns to normal, GFRC must carefully consider which shows it will be attending and the value of time allocations.


Who Will Bid at Tonight's Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale?

Bidding for the amazing Burrowing Owl CAC Approved Capped Bust Half Dollar Set Sale begins at 9:00 PM ET this evening. Will bidders be all in during the opening session or will they be cautious and wait until hours before the auction's closing time on April 3? This question is mostly rhetorical as the bidding patterns are well know.

My interest lies in the final prices realized for the following six gem offerings. I'm certain that these lots will see spirited bidding.


Gems from the Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale

1807 Lg Stars 50/20C, O-112 PCGS EF45 50C                                  1817 O-110 PCGS AU55 CAC 50C             


1823 O-106a PCGS EF45 CAC 50C                                            1825 O-115 PCGS AU55 CAC 50C


   1827 O-104 PCGS AU50 CAC 50C                                           1829/7 O-101 PCGS EF45 CAC 50C



Newtown's Ultimate Liberty Seated Half Dollar Set Sale Lot Preview Arrives

The Newtown Collection consignor is no stranger to regular Blog readers. A quick check of the Open Set Registry will reveal his amazing Liberty Seated dime and half dollar collections.

Since upgrading his top end collections becomes more and more difficult, Newtown decided to work on a side Seated Half Dollar Ultimate Set project. The Ultimate Set is a huge undertaking with 329 entries per Bill Bugert's definition during the 2007 time frame. The Newtown Collection is at the top of the leader board for this Open Set Registry challenge. His set is 71% completed with an average 52.9 grade and 48% CAC approval rate.

Recently, Newtown made the decision to pair down his holdings and sell non-core collection pieces located in his Ultimate Set. Per that decision, GFRC Online Auctions will be offering the 52 divested Liberty Seated halves during April 2021. Today brings the traditional auction preview with the posting of the forthcoming 52 lots at the top right of the Daily Blog page.

Please keep checking in for the upcoming Newtown auction banner and auction dates.


20th Century Eye Candy for the Weekend!

Let's close today's Blog edition with a 20th Century eye candy gallery. Already, two FRoRs appeared on Friday evening for the 1892 PCGS MS65 CAC dime. Believe me, the balance of the offerings are just as nice, all in their special way.

Once morning shipping is wrapped up, my plan is to load this eye appealing lot to the price list along with the balance of the Bust coinage pieces that were showcased in Thursday's Blog.


20th Century Eye Candy for the Weekend!

1893 PCGS MS65 CAC 10C                                                   1911-S PCGS MS65 CAC 25C


           1892 PCGS MS65 CAC 10C                      1910-S PCGS MS63 CAC 10C                1917 Type 1 NGC AU58FH CAC 25C 



Wrapping Up The Blog

So ends another day's ramblings and report out on GFRC activities.

Yes, I will be in the office the entire day except for a one hour health walk along the Blackburn Canal prior to pre-dinner cocktail time. This evening's grilled dinner is Sriracha sausage and asparagus. My mouth is watering at the thought!

Thanks for checking in at the Blog.




March 26, 2021

Bidding Opens in 36 Hours for Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale

Delightful Bust Coinage to Consider!


I've Seen This Movie Before - Missing FedEx Shipment



Greetings and welcome to the Blog on a Friday morning. Thank you for stopping by.

Let's open today's edition with a realistic assessment of modern life from Seth Godin. I don't mean to be negative, maybe I just lack queue cards to help me get through another morning of GFRC ramblings.....

Seriously, when a individual with an in depth awareness of social, business, and technology trends as Seth Godin writes the following, it is an indictment of where society has progressed and the fact that those in charge should be paying attention. The scammers continue to become more sophisticated and freely bombard our email Inboxes along with our cellphones. Sadly, the scammers raise our defense mechanisms which slowly erodes our natural trust of humanity. Constantly being on guard for the next rip-off scam or worse case, identity theft, is no way to live a life.

Seth Godin Blog: Con at scale

Traditional con men do their work one person at a time. It’s a laborious process, earning trust and the benefit of the doubt before ultimately ripping someone off.

Toward the end of my dad’s life, shameless/shameful phone salespeople did just this and stole his trust, his time and his money.

Like most things, industrialists want to do it faster and bigger.

Scammy direct mail used to be obvious even at a distance. The labels, the stamps, the typography–it all signaled that this wasn’t personal.

And the occasional phone salesperson, calling from a boiler room–we could tell.

Now, as data acquisition continues to scale and become ever more granular, the hustle is getting more personal.

It’s in an uncanny valley–almost real, but not quite. And of course, the distance keeps getting shorter.

So the mail merge, the phone spam, the faux intimacy of a stranger. They continue to blur the lines between personal and personalized.

The end result is going to be a shrinking of our previously-widening circle of trust.

The benefit of the doubt is priceless. I have no patience for people who want to take it away from us.

Well said, Seth Godin!


Bidding Opens in 36 Hours for Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale

Anticipation for the upcoming Burrowing Owl auction sale is building! Yesterday brought two new bidder registrations which I gladly approved.

The Burrowing Owl auction is a truly special event for a simple reason, accessibility! The magnificent offerings are affordable to a broad range of collectors. More than half of the auction lots have reserves under $1000. Only one coin, the key date 1815/2 PCGS EF45 CAC borders on the five figure level.

Bidding opens tomorrow evening at 9:00 PM. Good luck to everyone who plans to participate in the Burrowing Owl online auction.




Delightful Bust Coinage to Consider!

The GFRC 30 Day Price List is in need of quality reinforcements! I'm on the job and attempting to quickly work through a host of new purchases and consignments.

Thursday afternoon's attention shifted to Draped and Capped Bust coinage. Rather than showcase an intermixed lot of coins with 19th and 20th century designs, I've decided to bring out new offerings with common design era themes. Today's gallery illustrates a nine piece lot of gorgeous early bust coinage for your consideration. This lot screams originality! Several of the below offerings are fresh purchases without CAC attempts. If I were to prepared a CAC submission today, you can bet that the 1814 Small Date dime, the 1815 "E" Stamp quarter, and the 1799/8 Draped Bust dollar would be in the submission box.

Look for these new offerings to post to the price list later this afternoon. First Right of Refusals are welcome. Already, a collector has expressed interest in the 1814 Small Date dime.


Delightful Bust Coinage to Consider!

1814 Small Date JR-1 NGC AU50 Fatty 10C                                        1815 'E' Stamp NGC AU58 25C       


          1814 E/A PCGS EF45 CAC 50C                                           1799/8 15 Reverse Stars PCGS F12 50C


  1831 LM-6 PCGS AU58 CAC H10C                1835 LM-10 PCGS EF45 H10C               1827 JR-9 R6 PCGS VF35 CAC 10C


  1829 PCGS O-112 AU58 CAC H10C              1834 O-113 NGC AU58 CAC 50C




I've Seen This Movie Before - Missing FedEx Shipment

When migrating GFRC shipping to FedEx, there were high hopes for consistent service and professionalism. Yesterday's phone call with a FedEx agent (after being transferred three times) has dashed those hopes. Following is the story and the basis for asking for your attention to a missing 1854-O Liberty Seated quarter that was shipped to a customer on March 15.

GFRC shipped the below illustrated Seated quarter to a client on the 15th with two day arrival on the 17th. The FedEx large envelope was loaded on a delivery truck at 8:43 AM for a day's residential and commercial deliveries. According to FedEx, the envelope was delivered to the client at 7:03 that evening with Direct Signature confirmation. The client was tracking the delivery and become most concerned when FedEx marked the package as being delivered without being contacted by the FedEx carrier. He promptly called FedEx to explain the lack of delivery. FedEx opened a case with the agent promising that the carrier would be asked where the package was placed. The online tracking shows a signature pad C19 scribble meaning Covid-19. Somehow Covid-19 absolves the carrier from direct client contact on a Direct Signature confirmation (the FedEx party line as I'm learning).

The client made me aware of the situation on March 20th. I immediately called FedEx for a status report and was told that an "investigation" was underway. My client assumed that FedEx would promptly look into the matter and locate the missing package and delayed my notification. Our mutual trust of FedEx was misguided.

Yesterday morning brought another call to FedEx to check on the "investigation" status. Of course, one must appear to be dumb for questioning a missing package when the FedEx system reports the package to be delivered. After being transferred three times, I spoke with an agent who pulled up the case file. Empty! There was no investigation underway. For those who know me well, I have no patience when commitments are made and not executed. My tone with the agent was rather stern as I was angry. The agent promised that an investigation would be launched and I would receive a personal phone call with an update within 24-48 hours. Lovely....

Recognizing that the package has been missing for eight days without anyone caring, I made the assumption that it was probably in the wrong hands. I filed a claim with FedEx to hopefully raise more awareness. Next came the same old movie as the USPS Silver Spring post office bust of an internal theft ring with Julian Leidman. The package went missing in the same area as last time. Therefore I sent an email to Julian with coin images and asked for his vigilance. Julian promptly replied and instructed me to send the same to Wayne Herndon (Wizard Coin Supply) and Cameo Coins in Vienna VA. This I did.

Following is the missing Liberty Seated quarter. If you see this piece offered on eBay or on the PCGS BST forum, kindly contact me.

Please Help Find Me - Missing in Herndon, Virginia

1854-O NGC MS62 25c #1774406002


Let's hope for the best possible outcome though I am becoming skeptical. As of March 21, GFRC has moved all shipments back to USPS until FedEx comes clean on this matter.


Global Financial News

U.S. markets managed to squeak out modest gains on Thursdays causing more consternation with the financial newsletter writers as Treasury bond yields also climbed.

Today's morning market futures, courtesy of Seeking Alpha, show an upbeat mood among global traders. All markets are positioned for incremental gains. We might be to the point where the old saying about certainty in life (death and taxes) should be updated to (death, taxes, and a rising stock market).

In Asia, Japan +1.6%. Hong Kong +1.6%. China +1.6%. India +1.2%.

In Europe, at midday, London +0.7%. Paris +0.5%. Frankfurt +0.8%.

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

The blocked Suez Canal is not impacting crude oil as the morning WTI quote stands at $59.72/bbl. Gold remains range-bound at $1726/oz along with Bitcoin at $53,287.

That nasty 10 Year U.S. Treasury bond yield has climbed to 1.67%


Wrapping Up The Blog

Based on the pile of newly arrived check payments, it appears that another busy morning in the shipping department awaits.

Yes, I will be in the GFRC office the entire day attempting to load today's Bust coinage offerings to the price. An additional priority is preparing the Newtown Collection's Ultimate Liberty Seated Half Dollar Set Sale contents posting to the Blog come tomorrow morning. There are a host of consignments that also need my attention. It will be another long day working with customers and coins.

Thanks for checking in at the Blog. Wishing everyone a great closing to the end of a traditional work week.




March 25, 2021

An Evening with Author William Spencer Miller - Son of a Coal Miner's Daughter


Crossing NGC CAC Approved Coins to PCGS - Planning Advice


Greetings and welcome to the Blog on a Thursday morning. Another week moves along too quickly in terms of the GFRC business.

Social interactions is at the heart of the human fabric. Last evening brought a belated 65th birthday party outside our condo. The Fortin's have a private area adjacent to a concrete storage unit that is ideal for hosting small get-togethers. This location provides an ideal vantage point for observing sunsets in the western sky. Eight people gather for an evening of long overdue social interactions. Everyone has had at least one Covid vaccination or both shots.


An Evening with Author William Spencer Miller - Son of a Coal Miner's Daughter

The gathering brought a surprise guest, William Spencer Miller, author of Son of a Coal Miner's Daughter. Bill spent a substantial part of his life in the Peace Corp and foreign service in Southeast Asia. His first assignment, as a younger man, was in Bali, Indonesia. His book is available on Amazon. Following is the cover image.

Bill and I bonded immediately due to mutual years spend in Asia and being tractor owners. At 84 years of age, Bill still maintains his farm land in Indiana and is a Kubota man. Our one on one conversations took place while I was grilling the evening dinner. My brother-in-law Mike did not allow my tequila glass to remain empty throughout the evening to ensure that my 65th party would be memorable. Yes, a good time was had by all including a well prepared dinner on the outdoor grill.

Naturally, the GFRC office day ended early due to party preparations and the evening event. A portion of the promised Liberty Seated dime lot managed to reach the price list with at least three pieces being placed on hold (1844, 1845-O, and 1866-S). The balance are free agents this morning.


Crossing NGC CAC Approved Coins to PCGS - Planning Advice

Upon opening overnight emails, one arrived from a client expressing his frustrations with CAC during a recent submission.

The background is that several CAC approved NGC coins were crossed to PCGS at the same grade. The joy of the successful crossover was temporary as CAC did not sticker the coins when submitted in their fresh PCGS holders. This fact alone highlights the subjectivity of CAC review. Our client did not provide evidence of the prior NGC CAC approved holders with the submission.

There is an important learning for everyone in the GFRC community. If planning to cross CAC approved NGC coins to PCGS, please take images of the NGC holder, serial number, along with CAC green bean evidence. A second close-up image of the holdered coin is also recommended. These images should be printed and submitted with the PCGS crossed coins. My own past experiences have resulted in CAC re-stickering coins in their new PCGS holders. Images of the former NGC holder allow CAC to remove the serial number from their database.


Incremental Consignments Arrived on Wednesday

The GFRC office is overloaded with new purchases and consignments as of this morning. Overnight orders continued along with those annoying low offers from Collectors Corner shoppers looking for a deal. For the latter situation, I will be removing "offers accepted" from my Collectors Corner postings. GFRC is currently holding firm on asking prices given market strength and robust demand.

Wednesday brought the arrival of the previously mentioned Liberty Seated dollar collection consignment and incremental Liberty Seated halves for the Newtown Ultimate Set online auction. Yes, I am well aware of the many requests for access to the Liberty Seated dollars. Please don't send another round of emails this morning as they will not be responded too. Patience is a virtue. I will get to the Seated dollar pieces in due time and will work with those who have submitted FRoRs.


GFRC Closing Consignment Window Through April 10

It is best to announce a closure of GFRC consignment insourcing until April 10. There is sufficient inventory to keep me busy well into April along with the launching of the Newtown Collection's Liberty Seated Half Dollar Ultimate Set online auction.

If considering the potential sale of a larger collection via the GFRC Online Auctions platform, the short term closing of the GFRC consignment window is not an issue. I would be more than pleased to initiate a discussion and explore possibilities.


Global Financial News

I'm becoming fascinated with the amount of financial news and analyst jabber that attempts to explain every subtle move in equity markets. It appears that writers and analyts must attempt a coherent explanation for each day's market movement to remain employed. Let's remember that investing is based on a longer term horizon for economic growth and not tied to the 24 hour news cycle. I'm reading the daily Seeking Alpha headlines and finding little that is deemed worthy to share in the Blog.

Morning market futures are flat for U.S. equity markets. That is all that can be shared to start another trading day. Following are global market futures courtesy of Seeking Alpha.

In Asia, Japan +1.1%. Hong Kong -0.1%. China -0.1%. India -1.5%.

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

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

So the Suez Canal is blocked by a large container ship. Anxieties are growing that supply chains will be impacted due to shipments being rerouted around southern Africa. Commodity prices have yet to respond.

Crude oil is up slightly to $60.20/bbl while spot gold pricing remains steady at $1730/oz. Bitcoin has pulled back to $52,819.

The 10 Year U.S. Treasury bond yield is mostly flat at 1.61%


Wrapping Up The Blog

St. Patrick's Day Sale shipping will be mostly completed as of this morning.

Wednesday brought a long photography session under ideal weather conditions. The session will enable ample amounts of image processing and price list loading activities for the balance of the week. Come the afternoon and evening hours, I will be working diligently to bring more offerings to the price list along with posting a multi-denomination Capped Bust image gallery in Friday's Blog edition.

GFRC has also purchased the long anticipated lot of Indian and Lincoln cent key dates. Those have been photographed and will be arriving to the price list during the weekend.

Thanks for checking in at the Blog. Please consider returning this evening for a preview of forthcoming Capped Bust coinage offerings.




March 24, 2021

Important Liberty Seated Dime Offerings to Consider


Bidding Opens Soon for Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale


Greetings on a Wednesday morning and welcome to another day of Blog ramblings. Thanks for returning each day.

Five weeks! What is so important about five weeks?

In five weeks, GFRC will be in the process of packing up the office and transitioning back to the Maine homestead. I'm sure that Blog readers can sense the desire for a personal change of scenery. The 1993 Miata will need driving attention after a lonely winter in the garage. Sweeping road sand off the driveway is always one of the first task after arrival. There will be broken tree branches to be removed and the first lawn mowing of the spring season. Yes, life in Florida is a wonderful refuge from the Northeast cold weather. As northern temperatures begin their seasonal recovery, so does the urge to get back to the Maine homestead.

Changing subjects...

My apology goes out to GFRC customers who have become accustomed to rapid Quick Ship of their orders. The St. Patrick's Day sale event along with regular orders have taxed the available office resources. Diane and I packaged and shipped sixteen USPS boxes on Monday and another fourteen yesterday. Most were paid for lots via arriving checks, Paypal, and credit cards. I've done my best to insert some Quick Ships into the mix realizing that not all clients are receiving their usual courtesy service. This leads to an important question as I've received several emails on why lots were not shipped ahead of payment.

Is the GFRC Quick Ship program a courtesy or an entitlement?

Let's ponder that question for a moment. If GFRC purchases coins from other major dealers, coins are never shipped until payment arrives and is recorded in their business system. Once payment is recorded, a trigger is sent to the shipping department to package and ship the lot. Quick Ship from major coin dealers is not possible due to their operating procedures and business systems. These procedures are in place to avoid mistakes and preventing hired staff from operating on a random basis.

GFRC typically operates in the same manner as the major dealers with the arrival of checks, Paypal, and credit card payments as the shipment trigger. However, I've gone further and extended personal goodwill with the Quick Ship program. During slower order rate periods, new orders are immediately shipped ahead of payment. The shipping department has the bandwidth to provide this courtesy. When a huge sales time frame takes place, those who have made payment receive shipping priority, and rightly so.

Therefore, please understand that there will be high volume sales periods where the small GFRC staff is over burdened. My only option is to lower the priority of the Quick Ship program. Again, Quick Ship is a courtesy to clients based on available resources and my ability to custom manage shipments outside of our business system.


Important Liberty Seated Dime Offerings to Consider

After several days of overcast weather conditions, Tuesday brought a return to sunny skies during the early afternoon hours. Your blogger used the opportunity to photograph many coins followed by an afternoon and evening of image processing.

The following gallery presents a wonderful group of fresh Liberty Seated dimes for consideration. The group is a mixture of consigned coins, GFRC new purchases, and several web-book plate coins from The Definitive Resource for Liberty Seated Dime Variety Collectors. I worked until 10:00 PM last evening updating images in the web-book, not missing a chance to improve the visual quality of the web-book during the sale of reference collection dimes.

First Right of Refusals poured in on Tuesday morning after previewing the new offerings. As suspected, the 1845-O PCGS EF45 CAC dime brought the highest demand with four requests. There are additional requests for the 1838 Small Stars, 1844, 1853 No Arrows, 1866-S, and 1877-S dimes. What about the 1841-O dime? I'm surprised that no one has made a request for this gem. The 1841-O date is typically available in circulated grades but not Mint State. This example is also one that I have a difficult time selling.

Look for these dimes to reach the price list during the afternoon with offer prices. Frankly, some have yet to be priced. Your morning patience will be appreciated as I work through another shipping session followed by pricing and posting this lot.


Important Liberty Seated Dime Offerings to Consider

1845-O F-101 PCGS EF45 CAC 10C

1838 Sm Stars F-101 NGC MS62 CAC 10C                                   1841-O F-106 PCGS MS62 CAC 10C     


1844 F-102 PCGS EF40 CAC 10C                                      1853 No Arrows F-102 PCGS AU53 10C


 1839 No Drap F-107 PCGS AU58 10C           1852-O F-101 PCGS EF40 CAC 10C              1858 F-107 PCGS MS63 10C          


 1866-S F-101 PCGS VF35 CAC 10C           1877-S F-109 PCGS MS63 CAC 10C              1891-O F-106 PCGS MS64 10C      



Bidding Opens Soon for Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale

A gentle reminder that the amazing Burrowing Owl Capped Bust half dollar collection catalog is available for preview at the Auction link or clicking on the banner at the top of the Daily Blog page.

The more I look at this collection, the more I am enthralled with the collective beauty of this auction lot. It took the Burrowing Owl consignor seven years to assemble these twenty-two pieces. That is roughly three coins per year and a typical pace for those numismatist who pursue the finest possible specimens for their hard owned monies. These types of collectors always do very well during a sale for one simple fact. Gem and near-gem coins for the grade are highly desirable and are in very short supply. Every collector dreams of owning these types of numismatic properties including the one individual who would pay $375 for the 1823 PCGS EF45 CAC monster gem half. Dreaming is part of our hobby; the fantasy of owning rarities or monster gems.

Come Saturday evening (March 27 9:00 PM ET) bidding will open for the Burrowing Owl collection. I'm looking forward to the event as much as Blog readers are. Certainly, every coin will reach it reserve price. The question ultimately comes down to what will be the final winning bids on the evening of April 3.

Following are several highlights to whet your appetite.


Additional Burrowing Owl Collection Highlights

Every Offering is a Potential Highlight!

1807 O-112 50/20C PCGS EF45 CAC 50C                                      1810 O-101a PCGS AU55 CAC 50C


1825 O-115 PCGS AU55 Gold CAC 50C                                      1826 O-110 PCGS AU50 CAC 50C



Global Financial News

Turbulence has returned to global equity markets as fears are growing over Covid-19 pandemic variants emerging out of Europe. Fears have resurfaced after German Chancellor Angela Merkel called the dominant U.K. variant of the coronavirus a "new pandemic" and outlined tighter shutdown measures. The Netherlands and France also extended lock-downs and imposed new travel and business curbs. 

Matt Yamatin reports that China is freeing up internal mainland travel restrictions. However, China is essentially closed to foreigners. It will be difficult for the Yamatin family to leave Beijing for time at the Maine homestead this summer. This will be the second year that we do not see Natsumi due to the pandemic.

Morning market futures are sharply negative for Asia while being moderately positive for the upcoming U.S. market opening time at 9:30 AM.

In Asia, Japan -2%. Hong Kong -2%. China -1.3%. India -1.7%.

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

Futures at 6:20, Dow +0.4%. S&P +0.4%. Nasdaq +0.9%.

All three tracked commodities have settled into trading ranges. Spot gold is priced at $1730/oz while crude oil stands at $59.66/bbl. Bitcoins are trading at $56,430.

Most important is the 10 Year U.S. Treasury bond yield holding steady at 1.62%


Wrapping Up The Blog

Another day in the GFRC arrives. We will be able to process more St. Patrick's Day sale Quick Ships today as the order backlog is brought down to a manageable level.

A delayed 65th birthday cook out arrives this afternoon. Diane sister and brother-in-law will attend along with several Auburn Lakes HOA neighbors. Everyone is feeling more comfortable with social events after vaccinations.

Thanks for returning to the Daily Blog and absorbing my ramblings. Wishing everyone a great day in the numismatic neighborhood.




March 23, 2021

Rebuilding the GFRC Price Lists - Important Liberty Seated Dime Lot!


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

Venice weather has been uncharacteristically cloudy for the past several day. Unfortunately, the cloudy conditions have held back the processing of a substantial amount of new offerings that remain in the photography queue. Since today's weather forecast predicts sunny conditions with a high temp of 72F, I'm planning a long photography session and quick image processing. Daily Blogs without coin galleries quickly become visually boring.

The GFRC shipping department was rip roaring busy on Monday with about 15 packages brought to the local UPS store. All paid for St. Patrick's Day sale items are already in the USPS transport loop. Today brings regular order shipments along with the start of St. Patrick's Day sale Quick Ships.

A special long time numismatic friend sent along a 65th birthday gift. Diane hid the Priority box's arrival and placed it on the office desk yesterday afternoon. Is anyone surprised with this thoughtful gift? How I love green with no offense to those who are fans of the orange brand.


Evening time brought Happy Birthday emails from Matt and Renee. Matt is 100% consumed with his sustainability consulting for a leading U.S. biotechnology company in Massachusetts. Renee is busy with Ivy, her veterinarian career, and a residing project at her Austin home. Next will be the installation of a Generac back-up power system.


Rebuilding the GFRC Price Lists - Important Liberty Seated Dime Lot!

Monday afternoon brought a Collectors Corner update. What a shock to learn that GFRC's online inventory level had dropped from about 1100 listings to slightly above 1000 in less than two weeks. This finding confirms how strong the current numismatic market is and the rate at which GFRC offerings are selling.

More important that ever is rebuilding inventory levels on the GFRC price list. Of course, selling coins is what GFRC is all about. However, my time must be equally balanced between adding product to the price list and the selling function. Within a strong demand environment, prices will be moving upward and discounting requests for current inventory will be politely refused.

Following is a report out of the upcoming Liberty Seated dime lot that will be photographed and processed today. There are a host of special pieces to consider with most offerings being either CAC approved, GFRC web-book plate coins, or both!

Liberty Seated 10c: 1838 Sm Stars F-101 NGC MS62 CAC; 1839 F-107 PCGS AU58 web-book plate coin; 1841-O F-106 PCGS MS62 CAC web-book plate coin; 1845-O F-101 PCGS EF45 CAC; 1844 F-102 PCGS EF40 CAC beautifully toned; 1852-O F-101 PCGS EF40 CAC; 1853 No Arrows F-102 PCGS AU53 web-book plate coin; 1858 DDO F-107 PCGS MS63; 1866-S F-101 PCGS VF35 CAC gem for grade; 1877-S F-109 PCGS MS63 CAC web-book plate coin; 1891-O PCGS MS64

First Right of Refusals are gladly accepted. Everyone should pay close attention to the above itemized listing!

Come the latter part of the week, I will be showcasing a substantial new purchases lot that will include Capped Bust, Seated, Barber coinage, and U.S. gold

Afterwards, get ready for a key date Indian and Lincoln cent newly purchased lot with many CAC approved offerings.

Then it will be onward to a host of freshly consigned lots


Global Financial News

Global equity markets are flashing red to start the day though the negative percentages are trivial. Who knows what the closing bell will bring on Wall Street today as the overall market momentum remains upward.

In Asia, Japan -0.6%. Hong Kong -1.3%. China -0.9%. India +0.6%.

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

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

The summer of 2021 driving season is just two months away and I suspect there will be pent up demand for tourist location visits. Hopefully, the Maine tourism industry will enjoy a banner year. I can deal with the heavy Raymond downtown summer traffic knowing that local mom and pop businesses are recovering from the pandemic. Crude oil pricing has dropped to $59.48/bbl and hopefully will stay at the level for the foreseeable future.

Spot gold continues to build a bottom at the $1736/oz level while Bitcoin has pulled back slightly to $54,555.

The 10 Year Treasury bond yield is holding at it recent 1.64% level.


Wrapping Up The Blog

The time has arrived to wrap up today's ramblings followed by a quick shower and a morning in the shipping department.

Afterwards, let hope for bright sun to enable the photography of the itemized Liberty Seated Dime lot as posted.

Thank-you for a fantastic month of March! Month to date sales are 50% ahead of 2020 results. Amazingly, we still have a full week to go and I plan on loading some great coins to the price list to turn March into a gangbuster sales period.

See you tomorrow morning at the Blog.





March 22, 2021

Overall St. Patrick's Day Weekend Sale Event Was Robust


Reliable Shipping is the Achilles' Heel of an Online Business


Greetings on a Monday morning. It is a grand day as I'm feeling energized and turning 65.

Yes, the 65 year old milestone is notable. Maybe turning 65 is the new 40 considering advancements in medical knowledge, well being management, and of course, exercising and a healthy diet. One must find that balance between preserving physical strength and mental acuity. There is no issue with the latter as operating GFRC certainly brings continuous learnings and exercise of the gray matter. I'm proud of today's 65th birthday milestone including a successful family, a host of lifetime accomplishments, and international exploration memories.

Yesterday brought much feedback concerning community member's physical reactions to the first Moderns vaccination. My weariness was typical and lasted less than 24 hours.


Overall St. Patrick's Day Weekend Sale Event was Robust

Yes, I am aware that the GFRC software closed the St. Patrick's Day Weekend Sale at 7:00 PM ET rather than at 9;00 PM. Coding Daylight Saving Time changes into the COIN system has proven to be difficult. Regardless, I sense that everyone who wished to make a purchase at discounted levels did so.

Overall, the St. Patrick's Day sale was another robust event. Several individuals emailed to express their thanks for holding the sale event within a growing business structure that is becoming more complex by the day. Following are several sale statistics.

- Total discounted sales were approximately $34,000 with combined regular and discounted sales during the three day period amounting to $55,000.

- Total sold discounted lots rose to 57 pieces by end of sale or about 16% of the initial offerings.

Discounted CAC approved coins were very popular. The GFRC CAC price list has shrunk to 254 pieces.

As you might imagine, the shipping queue is buried with outgoing boxes. This time around, I will be slowing down courtesy Quick Ships simply due to a lack of operational bandwidth. Today's shipping will focus on St. Pat's Day sale lots paid for via Paypal and other accumulated shipping that has been paid for with checks.

Further complicating shipping challenges is a new FedEx mis-delivered shipment that is far from trivial. Regardless of the many USPS frustrations and challenges, GFRC has only lost one shipment in seven years of operations. During the initial trial FedEx period, GFRC has already experienced an issue. More on this topic in the next segment.


Reliable Shipping is the Achilles' Heel of an Online Business

Dan White called last evening to check on my well being as the St. Patrick's Day sale was about to close down. During that call, I shared the current FedEx mis-delivered package situation. The conversation then steered to a comparison of days as a semiconductor wafer fab director and the present GFRC online business.

Managing semiconductor wafer fabs was the most challenging and miserable period of my life. A wafer fab is a specialized clean room with bays upon bays of high technology equipment. Tools include high energy implanters, high temperature furnaces, metal sputters, ion etchers, photo-lithography, and specialized cleaning tools. Most tools had robotic interfaces.

The Achilles' Heal of a wafer fab is equipment management. Every tool must operating to precise specifications. A trained engineering staff, on site spare parts, and lots of good fortune are paramount for meeting equipment uptime and production goals. Equipment issues were constantly being fought. Experienced equipment engineers were worth their weight in gold.

The Achilles' Heal of the GFRC online coin business has become the transport of sold coins to customers. One must pray that every sold lot reaches its buyer in a predictable manner. Errant or missing shipments divert precious time away from the execution of other aspects of the business. USPS has always had a certain level of issues that were manageable until late 2020. USPS execution during January and February 2021 was downright miserable. Second sourcing outgoing shipments via FedEx was a necessary alternative in the event that the USPS platform did not stabilize.

All was going well with the FedEx transition during March. Some customers requested to remain with USPS which we did. Sadly, a customer emailed me on March 19 indicating that his four figure Liberty Seated quarter purchase had not been delivered by FedEx though the FedEx system listed the package as being delivered and signed for. The signature confirmation jpeg file revealed a handwritten signature of C19. The customer promptly opened a case with FedEx for lack of delivery. FedEx did not notify the shipper of the issue which did not sit well with me. I called FedEx on Sunday with the case number (from customer). The case only contained the customer's phone number and no references to the shipping company. This is sad as the shipper is the entity that is responsible for filing an insurance claim and compensating the customer if the package has been lost or stolen by dishonest parties. All the FedEx agent could tell me was that an "investigation" had been launched and if the package is lost, a claim with FedEx must be filed.

Therefore, as of today, all outgoing shipments are being handed back to USPS until FedEx provides answers and the mis-delivered package is found. If FedEx has indeed improperly delivered and lost this package, their probation period is a failure. GFRC's transition efforts and FedEx shipping material expenses will have been wasted.


The Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Showcased in JRCS Weekly Newsletter

Yesterday brought the first time that GFRC has showcased a Bust coinage announcement in the John Reich Collectors Society (JRCS) weekly newsletter. I worked closely with Editor Richard Meaney to publish a specially constructed presentation including the display of several auction lot highlights. Within hours, JRCS member auction registration emails appeared which I gladly approved.

As a reminder, the Burrowing Owl's online catalog is available for inspection and consideration. The auction opens on March 27th at 9:00 PM ET. Simply click on the following banner to access twenty-two fantastic Capped Bust halves with their gorgeous natural silver toning.


Global Financial News

The financial news media, including Seeking Alpha, continue to peddle a story that bond yields and the equity markets are tied at the hip. If Treasury bond yields rise, then equities are under pressure. I'm not buying their chatter as equity markets are moving upward regardless of climbing 10 Year Treasury yields. Treasury yields remain low on a historical basis while equity investments are necessary to stay ahead of "true" inflation and not the understated numbers being calculated by U.S. government bureaucrats.

As I turn 65, I am becoming more and more skeptical of the "news" media and those in the financial media. There are biases and self serving interests by those who own these companies. One must self educate and become less dependent on the news of the day for formulating investment strategies. One might consider the "news media" and the financial media as entertainment and ratings based rather than being transparent.

Morning market futures are pointing to a flat open for U.S. equity markets.

In Asia, Japan -2.1%. Hong Kong -0.4%. China +1.1%. India -0.2%.

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

Futures at 6:20, Dow -0.3%. S&P -0.1%. Nasdaq +0.8%.

Crude oil appears to have found a trading range between $60-$65 per barrel. This morning's opening price is $61.59 for WTI crude. Brent crude will always be a few dollars higher.

Spot gold staged a rally close to the $1750/oz level before slipping back to $1732 to start the day. Bitcoin can be had for $58,014/coin.

The 10 Year U.S. Treasury yield is quoting at 1.68%.


Wrapping Up The Blog

The GFRC office is buried with excellent new offerings. My challenge is to get through the St. Patrick's Day sale event shipping in the next 72 hours and decide what will happen with FedEx transport.

If Venice weather shifts back to sunny conditions, an impressive eleven piece Liberty Seated dime consignment will be photographed and processed in time for an evening client gallery posting in the Blog.

Thanks for checking in at the Blog on a Monday morning.




March 21, 2021

Final Day of the St. Patrick's Day Weekend Sale Event


Lovely Copper Harbor Liberty Seated Dime Duplicates Arrive


Greetings and welcome to the Daily Blog on a Sunday morning. It is the final day of the St. Patrick's Day Weekend Sale event.

I'm going to be transparent. The Moderna Covid-19 vaccine has slowed me down this morning.

The daily morning routine consists of waking up at 5:00 AM, making breakfast, and conducting online reading in preparation for each Blog edition. I awoke this morning slightly before 5:00 AM, as expected, and went to the bathroom. However, a sense of being very tired was present and forced me back into bed. I slept until 6:30 and continued to have difficulty with finding the energy to get started with the day and writing the Blog. But the Blog must go on! After a healthy breakfast of waffles covered with fresh strawberries and morning coffee, my daily ramblings are being composed to share this personal experience. Mental creativity is lacking as compared to a "regular" day.

Therefore, this edition will be to the point and brief. I will probably head back to bed afterwards for addition rest before working through overnight orders. Please have patience with me if not receiving order confirmations until mid-morning.


Final Day of the St. Patrick's Day Weekend Sale Event

Did I call the St. Patrick's Day sale event correctly or what? Bipolar is a reasonable description of Saturday's order rate versus that of Friday.

Saturday brought St. Pat's sale silence with only two coins being purchased as compared to thirty-eight on Friday. The quiet period allowed me to shift attention to queued consignments and several lower priced new purchases, By end of day, the 30 Day Price List was back over 100 offerings. Overnight orders were reasonable and far exceeded those of the St. Pat's Day sale.

If history repeats itself, Sunday will bring a final round of St. Pat's Day sale purchases before the 9:00 PM ET closing time.


Lovely Copper Harbor Liberty Seated Dime Duplicates Arrive

A substantial fresh consignment wave has arrived to the GFRC office. Also queued are roughly 60 new purchases with many CAC approved.

Before beginning to work through this fresh backlog, processing earlier consignments was an imperative. These have been patiently waiting in the queue. One of those was a quality Liberty Seated dime offering from the Copper Harbor Collection. This individual is constructing an impressive Seated dime collection that can be viewed within the Open Set Registry. The Copper Harbor set is 69% complete with a weighted grade of AU50 and important 79% CAC approval rate.

Below are five Seated dimes for your consideration. Two were previously purchased from GFRC (1876-CC, 1890-S) while the other three are freshly graded raw pieces that were acquired years ago from Bowers & Merena. Already there are First Right of Refusals on the 1876-CC and 1877 dimes.


Lovely Copper Harbor Liberty Seated Dime Duplicates Arrive

1877 Type 2 F-107 PCGS MS62 10C                                                 1886 F-116 PCGS MS62 10C      


 1876-CC F-133 PCGS AU53 10C                    1888 F-118 PCGS MS62 10C                     1890-S F-101a NGC MS62 10C



StoneCold Collection Consignment also on Price List

In addition to Copper Harbor new offerings, a five piece lot from the StoneCold Collection also was posted to the price list. This group featured crusty original Seated silver coinage including an 1861-O half that has proven to be most difficult to attribute. I've finally made the W-7 attribution call by using a process of elimination rather than locating confirming diagnostics consistent with the Bill Bugert's Liberty Seated Half Dollar Register.

My memory indicates that someone requested a FRoR for the following 1863 Seated dollar. A review of the email Inbox failed to locate that request. Therefore, I'm posting the 1863 dollar image as a reminder to that individual for coming forward. If no one appears on the coin, this piece will be available come tomorrow.

1863 PCGS VF35 Seated $1



Wrapping Up The Blog

My apology for the lack of "entertaining" content in today's edition.

Yes, I will be in the GFRC office for most of the day and especially during the evening hours to respond to the closing St. Patrick's Day sale orders. The shipping queue is massive and best to get a head start on receipt creation and packing starting this afternoon.

Sadly, FedEx is not a panacea for USPS shipping woes. Already, there is an open case of a $1300 coin being marked as delivered by the FedEx carrier but the customer indicates no package receipt. Yes, I am using direct signature confirmation requirement for insurance coverage. Come tomorrow, we will be navigating the FedEx gauntlet for resolving this matter. If GFRC pays for direct signature confirmation, it is FedEx's duty to obtain such. But in the Covid-19 world, it appears that rules have become squishy.

Thanks for checking in on a Sunday morning. Please remember that many great deals remain on the St. Patrick's Day Weekend Sale event. Once 9:00 PM arrives, the special sale price list will disappear. I know that someone will appear after the sale is closed and request access to the sale prices. My attitude will be strict on returning to regular list prices. Therefore, it behooves you to take action today.




March 20, 2021

St. Patrick's Day Sales Event Off to a Great Start


GFRC Adds 2021 Summer FUN Show to Schedule


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

Quiet is the operative word to start a new day after an eventful close to the week. Securing a Moderna shot within 24 hours of making an appointment was pure luck. My hats goes off to Diane for registering us in Manatee county and procuring lightning fast appointments. The 2021 St. Patrick's Day Weekend Sale is off to an encouraging start as the hot numismatic market continues. The past two days have been so consuming that health walks were postponed. This will be corrected today as the afternoon temperature will peak at 73F. The Blackburn Canal trail will be the enjoyable destination with ideal walking weather.

There will be no GFRC shipping today since converting most outgoing packages to FedEx. Monday brings a huge shipping event with early preparations on Sunday evening. Frankly, your blogger needs a restful day to recover from the past week.


St. Patrick's Day Sales Event Off to a Great Start

Yes, the numismatic market continues to be robust if one has quality coins to offer. I'm pleased to report that all Friday St. Patrick's Day Sales orders have been captured and invoiced. So far, 38 coins worth $28,000 have been sold with another 315 quality items seeking new collector homes at discounted prices. Most consignors have seen action on their discounted offerings. The discounted price list is up to date for available offerings.

The order profile for the three annual GFRC is predictable. Friday brings a wave of orders as collectors seek "deals". Saturday brings a quiet period as potential buyers reflect on initial sales and the remaining pieces. Come this evening, I expect more orders to start appearing and continuing into Sunday. Sunday afternoon is traditionally another active buying period prior to the sale closing at 9:00 PM ET.

For those new to the GFRC website, the St. Patrick's Day Weekend Sale stays in effect as long as the top black sale banner is active. Come 9:00 PM ET on Sunday, the banner will disappear with all sale items returning to their former offer prices.


Restocking the GFRC CAC Price List

As of this morning, the CAC price list has been reduced to 259 pieces after peaking close to 350 offerings at the close of 2020. For perspective, the inventory reduction is about 1.5 double row slabbed boxes. I've been diligently working to stem the outgoing tide. However, demand is rapidly absorbing the new arrivals.

I'm pleased to report that GFRC has been actively buying CAC approved coins and recruiting consignments with a reasonable CAC green bean content. Currently, there are over 35 new CAC approved coins in the office that will be processed in the next 72 hours. 35 pieces might not appear to be a big deal but just wait for the disclosure of the early dates and grades. This arrival will garner substantial attention as GFRC closes out the month of March.


Newtown's Ultimate Liberty Seated Half Dollar Set Sale Arriving in April

Yes, there is a host of moving parts within the GFRC operation. This past week brought the photography of a wonderful 47 piece auction lot from the Newtown Collection. The session went smoothly under bright Florida sun and generated no lighting reflections. You can't believed my relief for having solved the lighting reflection issue that has gone on for years. Clients will see yet another improvement for illustrations of half dollar and dollar sized coins.

At some point this coming week, the Newtown Ultimate Set offerings will be posted to the Blog in the usual scrollable table format at the upper right. The GFRC Online Auctions banner and schedule will follow afterwards.


GFRC Adds 2021 Summer FUN Show to Schedule

As Florida quickly re-opens and continues to drop the vaccination age to 50+, I'm becoming increasingly confident that the 2021 Summer FUN show will be held. The Summer FUN show is traditionally a regional event for Florida and deep South dealers. Attendees are mostly from local coin clubs that are transported by courtesy bus shuttles.

If the Summer FUN show is held, there could be strong attendance given the pent up demand. Collectors wish to return to a "normal" life including the thrill of walking a bourse floor and meeting with their favorite coin dealers. GFRC wishes to be part of that event.

On Friday, I committed GFRC attendance to Cindy Wibker and mailed application and check payment. GFRC will be exhibiting with a full corner booth and eight cases of quality early type and U.S. gold offerings. Dan and I will drive from Maine/Connecticut to Orlando, Florida to attend the show, if held as planned.

Yes, I am aware that the June Long Beach and Whitman Baltimore shows have been canceled. I'm also not optimistic for the August ANA World's Fair of Money show given the large convention center that must be filled with dealers and world mints from throughout the globe. My gut feel is that Summer FUN will take place given its regional scope and the prompt re-opening of the Florida business sector.


Wrapping Up The Blog

Yes, I will be in the GFRC office most of the day working on admin and image processing projects along with posting a small consignment from the Stone Cold Collection to the price list.

Let's see how the day fairs in terms of the St. Patrick's Day Weekend Sale. If a quiet day, I'm ok with that as there is much to accomplish otherwise.

Thanks again for being regular Daily Blog readers.




March 19, 2021

Excellent St. Patrick's Day Sales Order Rate


His and Her Covid-19 Vaccinations Today


Greetings and welcome to the Blog of the first day of the annual St. Patrick's Day weekend sale.


9:30 AM Commentary

Diane and I are back from our Moderna vaccinations. I give a huge shout out to how the Manatee County Health staff handled the processing of hundreds of people in a highly organized manner. We remained in the Acura MDX the entire time and moved from tent to tent for registration, consent form processing, temperature check, the actual shot, followed by 15 minutes in a waiting area plus final check before the vehicle was released.

Diane's appointment was for 8:00 AM while mine was at 12:00 Noon. Once we arrived, the initial screening officer confirmed both our names on the list for today and issued two authorization cards.

I'm back in the GFRC office and will be responding to St. Patrick's Day sale orders. Thanks for your patience.


7:00 AM Opening Commentary

Today Blog will be brief due to Diane and I securing Covid-19 vaccinations appointments. For security reasons, I am unable to explain further. The unexpected appointments will also impact my ability to quickly respond to St. Patrick's Day sale orders. The overnight orders are substantial and will take time to log in the COIN system and invoice. All I can ask is for your understanding given our ability to secure opportunistic vaccinations. Yes, we are receiving the two shot Moderna vaccine. By moving quickly, the scheduling of the second dose remains within our planned stay in Florida. Today's vaccination also allows Diane to schedule an early April trip to Austin to aid Renee with Ivy's child care support.

As for the St. Patrick's Day sales event, a quick scan of the incoming emails indicates about 18 coins of the 350 offerings have been requested. Again, I will be responding to email orders as soon as our vaccination appointments are finished.

Thank-you for stopping by at the Blog and being great GFRC clients.




March 18, 2021

St. Patrick's Day Weekend Sale Opens at Midnight


Twin Lakes Collection - St. Pat's Sale - 12% Discounting Preview



Greetings and welcome to the Blog on the eve of the annual St. Patrick's Day weekend sale. I'm pleased you could stop by.

Days are flying by in the GFRC office as the number of moving parts continues to increase. The Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale online catalog is drawing attention. Just click on the above banner to access.

My buddy Dan White stopped by the GFRC office yesterday afternoon for a long visit. He and Rose Marie are now vaccinated and feeling comfortable with social interactions. Dan brought more wonderful coins for the price list with a few heading to CAC next week. Our conversation covered a broad range of topics including our mutual desires to return to Maine and Connecticut homes as soon as possible due to a long outdoor project lists. Another discussed topic was our willingness to exhibit at the Orlando Summer FUN show if the event takes place. Driving from New England to Florida and back for a 2.5 day coin show brings reservations. It is a long journey. Sure, GFRC wishes to be in attendance at the first national show post Covid-19 shutdown. We agreed to discuss with our better halves and render a discussion soon.

Late afternoon brought the arrival of Gobrecht Journal Issue #140. This issue is absolutely marvelous in terms of content and layout. Sadly, it is Bill Bugert's final issue as Editor but completely understandable. Those who dedicate a substantial portion of their lives to a cause, on a volunteer basis, will eventually burnout. Bill makes this point in his final Editor's Message along with encouraging others to step up and take a more active role in propagating their hobbies. If there is one person in the numismatic hobby who can push others into the volunteering space, it is Bill Bugert. His numismatic resume is broad based as LSCC Vice-President, E-Gobrecht and Gobrecht Journal Editor, along with researching and publishing his Liberty Seated Half Dollar Registers. Bill has dedicated most of his retired life to the advancement of Liberty Seated coinage collecting.


Discounting Instructions are Loaded for the St. Patrick's Day Weekend Sale

Much of Wednesday was consumed with the usual daily incoming orders and loading the St. Patrick's Day weekend sale discounting instructions into the COIN database. The last of the discounting preparations took place at 8:00 PM followed by a sales lot tally. The total presently stands at 308 lots which is respectable given the hot numismatic market. Discounted amounts range from 8% to as much as 20% with the typical discount being about 10%.

All participating consignors have been notified via a confirmation email that their St. Patrick's Day weekend sale discounting instruction have been loaded. If you are a GFRC consignor and wish to participate, there is still time for a last minute update. If discounting instructions were issued and you've not received a confirmation email, your instructions has not been loaded. Please contact me post haste to correct this oversight on my part. There will be no additions to the sale list after 6:00 pm ET today.


St. Patrick's Day Weekend Sale Opens at Midnight

I'm pleased to report that the GFRC St. Patrick's Day Weekend Sale event is ready to launch at midnight.

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

In summary, the 2021 St. Patrick's Day Weekend Sale is ready to launch with fresh pricing values for those who take the time to search through the many product lines and individually discounted lots.

Good luck to clients who have been eagerly waiting for this sale.


St. Patrick's Day Weekend Sale Instructions

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

Accessing the St. Patrick's Day Weekend Sale List

- Click on the St. Patrick's Day Sale white lettering on the black banner and wait for the price list to download. Please have patience when first downloading the St. Patrick's Day Sale price list. The entire list and all coin images are downloaded at one time. Download time should be less than 5 seconds. Of course, the download time is variable based on Internet service providers and access bandwidth. With local Comcast ISP, the GFRC download took under 5 seconds.

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

When Does the St. Patrick's Day Weekend Sale Go Live?

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

How Do I Purchase Lots?

Purchasing lots via the St. Patrick's Day Weekend Sale price list is no different than executing a regular GFRC purchase. Customers can click on the shopping cart to launch a purchase email. Otherwise, simply send me an email and list the desired lots (denomination, date, mintmark and price). All emails will be processed in the order received to determine sale lot allocations. Phone calls are welcomed starting at 8:00 am on Friday, Saturday and Sunday mornings. Later Friday morning, I will be contacting buyers with purchase invoices and preparing shipments.

FedEx vs. USPS Shipping?

The GFRC Quick Ship program will be used extensively for customers that are well known to me. Since migrating to FedEx, GFRC does not issue FedEx shipments on Friday or Saturday due to business insurance restriction. USPS shipments are possible on Friday and Saturday. My advice is to hold out for FedEx transport if possible. FedEx is operating consistently to its two day shipment goal. USPS Priority box deliveries remain erratic.

It is recognize that a small percentage of GFRC customers prefer USPS transport due to special requirements. GFRC will continue to offer USPS shipments to those who make an email request.

Will Lay-A-Ways Be Available for St. Patrick's Day Weekend Sale Items?

Unfortunately no. The St. Patrick's Day Weekend Sale is a cash and carry event. Regular GFRC payment terms will apply. Paypal usage will require a 3% adder to the combined purchase and shipping cost total with no exceptions. Credit cards usage is also possible with same 3% adder. For customers who wish to make a larger number of purchases and require 30 day terms, I'm sure we can work out a payment approach. My only requirement is that St. Patrick's Day Sale lots be completely paid for by April 15, 2021. Orders requiring 30 day terms will not be eligible for Quick Ship.

When Will St. Patrick's Day Weekend Sale Lots Ship?

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


Twin Lakes Collection - St. Pat's Sale - 12% Discounting Preview

This year's St. Patrick's Day sales event brings a new first. The Twin Lakes Collection consignor has asked that his 12% discounted lots be featured as a GFRC client gallery in the Blog. Prior to today disclosure, discounted lots were an unknown until the sale opened at midnight. Come midnight, the following lots will be offered at a 12% discount from current price list levels. Since these are sale lots, I will accept email or text message purchase requests, on a first come first serve basis, starting at Friday 12:01 AM ET for any of these lots.


Twin Lakes Collection - St. Pat's Sale - 12% Discounting Preview

1807 Small Stars PCGS AU58 50C

1838 No Drap PCGS MS65 CAC H10C                                                  1923-S PCGS AU58FH 25C       


 1832 PCGS AU58 1/2C                               1837 PCGS AU58 1C                               1851 PCGS AU58 1C


1857 Lg Date PCGS AU58 1C                      1865 Fancy 5 PCGS AU58 1C                        1886 PCGS AU58 1C          


       1855 PCGS AU58 3CS                                  1849/8 PCGS AU58 5C                             1924-D PCGS AU58 5C          


        1836 PCGS AU58 10C                             1856-O PCGS AU55 10C                         1869-S PCGS AU55 CAC 10C  


    1908-S PCGS AU58 10C                            1910-D PCGS AU55 10C                           1908-O PCGS AU58 25C      


 1830 Sm 0 O-103 PCGS AU58 50C             1830 Lg 0 O-123 PCGS AU58 50C                   1833 O-112 PCGS AU58 25C      



Week of March 22 Brings Another New Offerings Wave

Immediately after the St. Patrick's Day weekend sale closes, my attention will quickly shift to new purchases and consignments. Yesterday brought the arrival of a duplicates Liberty Seated quarter and half dollar consignment from the Southern Texas Collection.

Today brings the delivery of a substantial new purchases lot that will garner much interest once posted to the price list.

If time allows, I would like to post a 20 piece offering from my own Liberty Seated dime stockpile including many CAC approved pieces that have been held back due to seller's remorse.


Global Financial News

Hang on to your economic hats as the Federal Reserve is forecasting 6.5% GDP growth during 2021. The Fed will allow inflation to run hot while continue "QE like" stimulus. I have a feeling that the balance of 2021 will remain robust for numismatic sales.

The Federal Reserve's economic upgrade pushed U.S. equities higher on Wednesday. However, also climbing is the 10 Year U.S. Treasury bond yield that reached 1.74%. Higher bond yields will siphon some monies into the safety of Treasuries.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan +1%. Hong Kong +1.3%. China +0.5%. India -1.2%.

In Europe, at midday, London flat. Paris +0.2%. Frankfurt +1.2%.

Futures at 6:20, Dow +0.2%. S&P -0.5%. NASDAQ -1.3%.

Crude oil pricing is holding steady at $64.75/bbl. Spot gold is also steady for a third day at the $1732/oz mark. With talk of fast paced economic expansion and potential price inflation, plus huge amounts of deficit spending, gold appears to be a bargain at present levels.

Of course, many new age individuals consider gold to be a relic and nothing but a piece of metal. On the other hand, Bitcoin is the high tech investment vehicle and continues to move upward at $58,495/coin.


Wrapping Up The Blog

A limited amount of morning shipping brings an opportunity to load more new offerings to the price list. Post lunch time activity will focus on photography of the upcoming Newtown Collection's Ultimate Liberty Seated Half Dollar Set Sale. The 47 piece lot should be straight forward to image and load into the processing queue.

I believe that is the extent of this morning's commentary.

Good luck to everyone at this evening's St. Patrick's Day sales event. I will not be staying up for the midnight opening of the sale. Rather, I'll view the list of sales orders once arising tomorrow morning.

Thanks again for checking in at the Blog.




March 17, 2021

Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Catalog is Online

Awesome Classic Head $5 Gold to Consider!


St. Patrick's Day Weekend Sale Arrives at Thursday Midnight


Greetings on a Wednesday morning and welcome to yet more ramblings conducted without a spell checker. Thanks for visiting again!

Today's edition will be brief and to the point. At 7:00 AM, Diane and I will be fixated on our respective computers. The goal is securing an appointment for the J&J Covid-19 vaccine. The Florida website is a bit kludgey and requires time and patience to secure an appointment. We've decided that Diane will be vaccinated first as she plans to return to Austin during April to aid Renee with Ivy's child care scheduling challenges.

7:18 Update. A new federal directive gives priority to anyone in the education field regardless of age. The J&J vaccination appointments at Publix Pharmacies were consumed in a matter of minutes in Sarasota and adjacent counties. At this rate, vaccination in Maine might be a more realistic expectation.

Let's finish up today's Blog ramblings....


Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale Catalog is Online

I'm pleased to report that the Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale catalog has been posted at the Auction link. Len's descriptions are well prepared and masterful. Of course, it is much easier to describe choice and gem offerings than those that are just average for the grade.

The Burrowing Owl Collection brings a stunning display that will be enjoyed by the many visitors. One does not need to be a fan of Capped Bust halves to relish the consistent eye appeal and individual examples of beautiful natural toning. I'm certain that parting with the collection was a difficult decision for our consignor. However, the monies are being reallocated to an excellent cause. Reading the consignor's introduction will bring insights into how the collection was assembled and the basis for the sale.

As a fellow collector of beautiful silver coinage, my congratulations go out to Burrowing Owl for his superb accomplishment.


Awesome Classic Head $5 Gold to Consider!

Locating choice Classic Head gold pieces at competitive pricing is challenging to say the least. I'm quite proud of the following two Classic Head $5 gold offerings that will reach the price list today. Little needs to be said as the images faithfully capture each piece.

Sorry, but the 1838 PCGS MS61 CAC offering has already been sold.


Awesome Classic Head $5 Gold to Consider!

1836 HM-7 PCGS AU55 G$5                                                   1838 HM-1 PCGS MS61 CAC G$5



St. Patrick's Day Weekend Sale Arrives at Thursday Midnight

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

The St. Patrick's Day Weekend Sale banner is located at the top of all GFRC website pages. The banner features a countdown clock to remind everyone as to when the sale starts. Once the clock reaches 0:00, the banner becomes a link to a special price list that is entirely separate from regular GFRC price lists. Clicking on the black banner initiates the download of the St. Patrick's Day Weekend Sale price list with tabs for individual product lines. Customers can scroll the various tabs searching for that special coin that is now bargain priced. Shopping cart icons will be enabled and available for triggering an email for conducting purchases.

The St. Patrick's Day Weekend Sale starts on Thursday March 18 midnight and ends on Sunday March 21 at 9:00 pm. Each sale typically has 400 to 500 coins offered at various discounted prices. By end of day, I will know the quality for this year's sale. Once the sale closes on March 21, the special banner and link will disappear with unsold coins being available at regular offer prices prior to the sale.

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

In Thursday's Blog, I will share detailed instructions for shopping the St. Patrick's Day Weekend Sale.


Global Financial News

The 10 Year U.S. Treasury bond yield has move up to 1.64% leading to new worries for equity markets. At least the financial "news" media have something to quawk about.

Market futures are most flat to start the day.

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

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

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

If looking for a barrell of crude oil, your cost will be $64.33. Gold pricings is hanging in there at $1733/oz and Bitcoin is priced at $54,982 for anyone who cares.


Wrapping Up The Blog

Today brings a host of office activities with the loading of St. Patrick's Day discounting instructions being the top priority.

Thanks for checking in at the Blog.




March 16, 2021

St. Patrick's Day Weekend Sale Discounting Inputs Due by Noon


GFRC Adding Yet More Quality Coins - Pricing is Moving Upwards

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

Managing a business the size of GFRC with a tiny staff of two people and a remote IT director is challenging but rewarding. For those who have been close to GFRC since its inception, you've seen ongoing website development and substantial product line expansions. Some often ask how two people can execute the many interwoven pieces of the business. The answer is systems thinking.

Systems thinking?

Every business or functioning organization is made of multiple systems. Look at the human body as an example. There are a host of organs that work in complete harmony to produce a healthy life. When one organ suffers a crisis, the entire body is impacted. Managing the human body towards a long life means attention to all bodily functions. For example, young looking skin requires vitamin E, much hydration, and limited exposure to the sun.

Operating a business is no different. Success businesses in today's information technology age will have a strong IT development and management system. "Value Creation" is another key system whereby products are developed, priced, marketed, and sold. "Value Delivery" is the operations component that sources or builds the products and schedules their delivery to customers. Underlying these systems is a strong foundation that includes fast paced decision making, robust staffing, quality procedures, and compensation (rewards).

These mentioned systems can apply to a Fortune 500 company or a small mom and pop venture. Of course, the scaling and resourcing is different but the management concepts are not.

The following excerpt from the www.systemsthinker.com website should provide more insight in terms of how integrated systems must be analyzed to determine their impacts on high level outcomes and goals. Casual loop diagrams are popular for group analysis of integrated systems leading to improved understandings and optimization.

Systems thinking expands the range of choices available for solving a problem by broadening our thinking and helping us articulate problems in new and different ways. At the same time, the principles of systems thinking make us aware that there are no perfect solutions; the choices we make will have an impact on other parts of the system. By anticipating the impact of each trade-off, we can minimize its severity or even use it to our own advantage. Systems thinking therefore allows us to make informed choices.
Systems thinking is also valuable for telling compelling stories that describe how a system works. For example, the practice of drawing causal loop diagrams forces a team to develop shared pictures, or stories, of a situation. The tools are effective vehicles for identifying, describing, and communicating your understanding of systems, particularly in groups.

At GFRC, I've applied years of corporate learning to a small start-up. Each office day brings a morning sub-systems review to determine what activities are necessary to maintain balance in the overall system. From a Blog readers perspective, or that of an ongoing client, GFRC may appear to be controlled chaos. Many balls are constantly in the air but managed to find their appropriate slots once landing. When a major system component becomes too problematic, change is necessary. A recent example is the USPS to FedEx transition. Chasing down USPS delayed shipments and customer correspondence was impacting the resource requirements for the "Value Delivery" function. By transitioning to FedEx, GFRC has two parallel shipment options depending on who is providing problem free transport.

This brief discussion of system thinking is simply a kernel of information. One could spend years learning this art as I have done. Once proficient, the benefits are astonishing.


St. Patrick's Day Weekend Sale Discounting Inputs Due by Noon

The St. Patrick's Day weekend sale is quickly approaching. The countdown clock indicates two days and sixteen hours before the special sale price list becomes accessible.

GFRC consignors who wish to participate have until noon time today to submit their discounting instructions. Wednesday is allocated for loading the discounting instructions into the COIN system. Once a consignor's instructions are loaded, a confirmation email will be sent. If not receiving a confirmation email by Thursday noon, there is a strong possibility that your instructions have not been executed. Please contact me promptly and I will determine where those instructions are located, followed by their execution. I still see some consignors not following my request to have "GFRC St. Pats Sale Discounting" in the email subject line.

Once discounting instructions are loaded, I will be in a position to comment about the size of the sale in the Blog.


GFRC Adding Yet More Quality Coins - Pricing is Moving Upwards

Sourcing coins for a business that sells roughly 250-300 coins each month is not a trivial exercise. Behind the scenes, I am constantly searching for quality offerings at competitive prices to ensure that the price list is well balanced across the various product lines.

Recent buying sessions have reinforced a key point. Prices for quality coins including CAC approved are moving up! Yes, GFRC clients don't wish to hear this fact, rather they wish to continue purchasing quality coins at a discount. I'm sorry but retail prices must move up due to limited supply and growing demand. The Covid-19 pandemic has brought many collectors back to their hobby. Those passions have been re-ignited during a period of short supply. Collectors who believe that their former abilities to haggle and negotiate lower prices will be disappointed. The opposite is true. Gaining access to quality coins should be the first consideration with a supplier who will price fairly and not leverage the short supply situation for higher profits.

I spent much of Monday afternoon buying a large fresh early type coin deal. Prices paid were current retail meaning that wholesale pricing is a thing of the past in today's vibrant market. Prices will be moving up. Checking the PCGS Price Guide will confirm that pricing is being adjusted upward. CAC approved coins are being priced above the CDN CAC guide.


Global Financial News

U.S. equity markets are predictably moving upward due to unprecedented economic stimulus while the Covid-19 pandemic begins to wane. States are removing restrictions for businesses. Is anyone listening to Dr. Fauci anymore?

The DJIA closed a hair shy of the 33,000 mark while the S&P 500 is about to cross the 4,000 level. Those with substantial equity portfolios are smiling.

Unfortunately, the Biden administration is talking tax hikes for the "wealthy" and corporations. Massive government spending must be paid for. I'll post a Seeking Alpha article on this topic shortly.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan +0.5%. Hong Kong +0.7%. China +0.81%. India -0.1%.

In Europe, at midday, London +0.5%. Paris +0.1%. Frankfurt +0.6%.

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

Commodity prices and the long bond are essential flat and appear to have settled down to the idea of a reopening economy. Crude oil is priced at $64.28/bbl to start the day. Gold is attempting a small recovery at $1731/oz. Bitcoin is solidly entrenched at $55,635 given its Big Tech investors. The 10 Year U.S. treasury bond yields stands at 1.58%.

As promised, following is Seeking Alpha commentary on upcoming tax hikes.

Tax Hike

President Biden is planning the first major federal tax hike since 1993 to help pay for a long-term economic program designed as a follow-up to the $1.9T coronavirus relief package, according to Bloomberg. The next initiative, which could come at a cost of $2T-$4T, would be paid for via increases in both the corporate tax rate and the individual rate for high earners. The goal is funding key initiatives like infrastructure and climate change, as well as expanding help for the poorest Americans.

What's on the table? While the White House has rejected an outright wealth tax, as pitched by Senator Elizabeth Warren, it does target the wealthy. Proposals: Raising the income tax rate on individuals earning more than $400,000 per year, expanding the estate tax's reach and implementing a higher capital gains tax rate for individuals earning at least $1M annually. It could also raise the corporate tax rate to 28% from 21%, pare back tax preferences for so-called pass-through businesses (such as LLCs or partnerships), as well as revise laws to stop U.S. companies from shifting jobs and profits offshore.

"While the next major fiscal proposal might come with a large headline number, it is likely to have a much smaller impact on growth in 2021 and 2022, as the spending will be more evenly distributed over several years and some of it will likely reflect spending that would have happened in any case," Goldman Sachs wrote in a research note.

Go deeper: Helping to pay for Biden's domestic agenda, Treasury Secretary Janet Yellen is reportedly working with countries worldwide to forge an agreement on a "global minimum tax" for multinationals. Back in January, at her confirmation hearing, she said she wanted to work with the OECD to prevent a "race to the bottom" on corporate taxation. However, any OECD deal could be challenging because of its non-binding nature, and would likely need to be approved by Congress, which may be difficult depending on the specifics.


Wrapping Up The Blog

Another busy day in the GFRC office awaits me. Let's get the Blog uploaded early so I can hit the shower and catch up on admin work while Diane takes Buddy out for his morning walk.

If all goes to plan, I will be loading yesterday's featured client gallery coins to the price list during the afternoon hours.

Thanks for stopping by at the Blog.




March 15, 2021 - Ides of March

Two Quality Early Type Consignments to Entice!


St. Patrick's Day Weekend Sale Discounting Deadline is Tuesday Noon


Greetings on the Ides of March and welcome to the Daily Blog.

We open the edition with good/bad news concerning the United States Postal Service. Our "lost" package to a Califorina coin dealer magically appeared at the San Francisco distribution center on Saturday. The Priority box was shipped on February 18 and disappeared on the 22nd. Diane has made multiple calls to USPS for help in locating the package. My hat goes off to her for the tenacity and not giving up. The coin was shipped on approval for a dealer who had a potential customer. That was one month ago. This morning brings a call to that dealer to determine if his still needs the coin. If not, the poor thing will be shipped back to Florida. That is the good USPS news.

The bad news is continuing problems with Priority shipments. A new Texas based client placed several coins on lay-a-way and issued the first payment last weekend via Priority envelope. Just guessed it. The envelope sat in a Texas distribution center for four days before arriving to a Florida center on Sunday. The new client is concerned with his good standing at GFRC due to USPS poor execution.

Bottomline, USPS has serious capacity issues after closing many smaller distribution centers. Weather events only exacerbate delays.

The FedEx conversion is moving along smoothly. Client feedback has been consistently positive when provided. FedEx is serious about obtaining signatures for packages as compared to USPS. If ordering a coin from GFRC, please understand that you must sign for package delivery unless the shipment is valued under $300. This is a buyer's responsibility during purchase and delivery execution.

Back in Venice, the Fortin's are attempting to schedule their Covid-19 vaccinations this week. We are targeting the single Johnson and Johnson shot as Diane needs to fly to Austin come early April.

This morning's shipping queue is substantial and will keep us occupied through lunch time.


Two Quality Early Type Consignments to Entice!

West coast Florida weather has been ideal for coin photography. I'm leveraging that serendipity moment for improved photography efficiency. Gone is the need to photograph coins multiple time in the hope of securing reflection free images. Saturday's photography resulted in quality images from a single session. The new learning will be beneficial during the photography of large half dollar and dollar lots.

Following is an enticing gallery that showcases two consignments. Headlining the gallery is a frosty 1900 $20 double eagle with CAC approval followed by an 1825 B-2 Capped Bust half and 1863 Seated dollar. The 1825 quarter is housed in an early NGC Fatty holder with a CAC green bean. The surfaces are steely and choice leading to a JUST BUY IY NOW recommendation once posted to the price list. The better date 1863 Seated dollar is crusty original and will not last long. The 1860 and 1860-O Seated halves are a nice matched pair for a CAC approved circulated set.

Look for these offering to reach the price list during the upcoming next 24-36 hours.


Two Quality Early Type Consignments to Entice!

1900 PCGS MS64+ CAC G$20

1825 B-2 NGC EF40 CAC Fatty 25C                                                  1863 PCGS VF35 $1 50C         


1821 Sm Date JR-9 PCGS EF40 10C                  1860-O PCGS AU55 25C                          1860 PCGS EF40 CAC 50C        


    1860-O PCGS EF40 CAC 50C                  1861-O WB-6 PCGS EF45 50C                      1861-S PCGS EF45 50C        


1874 PCGS VF35 CAC 50C


St. Patrick's Day Weekend Sale Discounting Deadline is Tuesday Noon

More St. Pat's Day sale discounting instructions appeared on Sunday. The Twin Lakes Collection consignor will be discounting all offerings (except those posted this weekend) at the 8% and 12% levels. We will be offering GFRC customers a special treat this time around. Thursday's Blog edition will contain a Twin Lakes client gallery illustrating all pieces that are discounted by 12%. This will provide a full twelve hours for deciding if one of the aged Twin Lakes coins is for you at a substantial discount. Please note that I WILL NOT be accepting St. Pat's Day sale orders until 12:00 midnight March 18th regardless of an earlier preview.


Upcoming GFRC Events During the Coming Week

Another busy week arrives in the GFRC office. The St. Pat's Day runs from March 18 midnight until March 21 9:00 PM. The Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale auction catalog will be published on March 20 or slightly before.

The coming week also brings the scheduling of the next GFRC Online Auctions event; a 47 piece Liberty Seated Ultimate Set offering during April. A large key date Indian and Lincoln cent shipment will be reviewed for potential purchase. Several high quality Classic Head $5 gold pieces are due to arrive as a new purchase. Also anticipated is the partial Liberty Seated dollar collection that ships via USPS, and hopefully will arrived promptly during the week.


Global Financial News

Will U.S. equity markets continue to climb this week? The DJIA presently stands at an impressive 32,779 with more gains possible today.

During the weekend, Bitcoin climbed to $60,000 before pulling back. India has decided to ban Bitcoins as an additional news item.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan +0.2%. Hong Kong +0.3%. China -1%. India -0.8%.

In Europe, at midday, London +0.3%. Paris +0.4%. Frankfurt +0.2%.

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

Spot gold pricing is attempting a recovery at $1730/oz while crude oil is holding at the $65.76/bbl. A visit to the local Venice gas pump brought a $3.20 price tag for a gallon of 89 grade gasoline.

The 10 Year U.S. Treasury bond yield is flat at 1.61%

Moving back to the Bitcoin topic, this Seeking Alpha article discusses the Bitcoin ban in India and the possibility that Bitcoin could be eventually banned throughout the globe.

Could a ban happen in the U.S.?

Bitcoin hit a record high of $60,000 on Saturday, nearly doubling in value this year, as the Beeple NFT sale continued to draw attention to the cryptocurrency, as well as more institutional investment. Prices then pulled back 7% to the $56,000 level on reports that India would propose a law banning cryptos, giving holders of the virtual assets up to six months to liquidate. The bill, one of the world's strictest policies against cryptocurrencies, would criminalize everything from possession, issuance and mining to trading and transferring crypto assets.

Why is India doing this? It's not the first nation to take action against Bitcoin, with similar bans or restrictions seen in countries like China, Pakistan, Russia, Bolivia, North Macedonia and Morocco. There are concerns that Bitcoin's decentralized system will make it more complicated for central banks to create their own CBDCs (central bank digital currencies), as well as worries that cryptos could be used to finance illicit activities. CBDCs are a promising tool that will allow central banks to have real-time data about their economies, offering the ability to track money flows, spending and savings data and what sectors are suffering or doing well. Leaving privacy concerns aside, a central bank could be more informed on monetary policy when armed with that information, while the government could possibly link future stimulus payments, universal basic income or fiscal policy to CBDCs.

Many Americans are unaware that it was illegal to own gold from 1934 to 1974, though the prohibitions were relaxed starting in 1964. A U.S. citizen couldn't own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins, as the federal government and banks shored up their financial soundness. Turning to cryptos, the Secret Service and the IRS have already worked with Coinbase and exchanges to hold private crypto wallet keys, while the US Marshals Service has seized and auctioned many a Bitcoin. What would happen if the U.S. government or Fed felt threatened by the rise of decentralized banking? What if it interfered with their plan for CBDCs?

Go deeper: Bringing forth a Bitcoin ban could be legally difficult for the U.S. government, but even if would go through, enforcing the ban would be the harder part of the equation. Unless the government would exert strict control over the internet, individuals could download Bitcoin wallet software, run a node and complete transactions. That may render the currency out the realm of widespread adoption, but could also increase its demand for the exact same reason. Over the last decade, Bitcoin has also made inroads into the U.S. financial system, where it is treated as a commodity, so a ban could face other barriers like stymieing innovation and closing down institutions overseeing billions of dollars in crypto assets. 


Wrapping Up The Blog

The time has arrived to wrap up today's Blog edition. A full morning of GFRC shipments and consignment checks awaits me.

Thank-you for starting another week in a life by spending time on the GFRC website. I will be back with more ramblings in just 24 hours.





March 14, 2021

Len Augsburger Guest Blog - Numismatic Video Marketing

Twin Lakes Collection - A Host of PCGS AU58 Offerings


The St. Patrick's Day Weekend Sale Will Go On As Planned!


Greetings and welcome to a Daylight Saving Time early morning. Thank-you for checking in at the Blog.

I believe that everyone can agree about two things in American life. The Lincoln penny and Daylight Saving Time need to go. However, they are still with us after years of out living their usefulness.

The twice a year time change is a nuisance to the travel industry and at GFRC. How many times has an annual sales event incorrectly started at 11:00 PM rather than 12:00 midnight? Blame it on Daylight Saving time and the difficulty with programming those back and forth time changes.

The zinc core Lincoln penny is also obsolete with many finding their way into trash piles where they will eventually disintegrate.

I did my part to manage the Daylight Saving Time change by retiring at 8:00 PM Saturday evening. Composing the Sunday morning Blog edition is a big deal and required the appropriate planning. Breakfast came at 5:30 AM DST with a hot cup of coffee and a shortened day in a life.

Today's Blog edition brings considerable content. We have a guest blogpost, a large client gallery, and Gerry capitulating after stirring up a small hornet's nest with Saturday's mention of canceling the St. Patrick's Day sale event.

So, let's get on with a GFRC Sunday morning show...


Len Augsburger Guest Blog - Numismatic Video Marketing

This Len Augsburger blogpost is a masterpiece. I asked Len to brings us to date on the usage of video marketing within our numismatic hobby given his management role at the Newman Numismatic Portal. Len went further with a historical look at technology advancements and how they have changed our hobby forever. Bottomline, technology allows smaller entrepreneurs to compete directly with the well established industry giants. Concurrently, technology impacts how collectors conduct their hobby including methods used for assessing and purchasing coins.

Len once again makes mention of an old time dealer named Jim O'Donnell. No social security number Jim was one of my three mentors and is continually missed at coin shows. Jim would be proud of how his student has evolved and has impacted coin dealing, Jim foremost passion in life (other than the ponys). I'm certain that Len and I could write a host of Jim O'Donnell stories.

Numismatic Video Marketing

Technology moves quickly – yesterday’s cutting edge soon becomes table stakes for the next go round. I remember my brother interviewing as an freshly-minted attorney, c. 1987, using a resume produced on a home computer with desktop publishing software, which was light years ahead of the typed and photocopied one-pagers his classmates were circulating. It didn’t take long for employers to expect everyone to show up with similarly flashy resumes, and, if you didn’t, they had to wonder why you wouldn’t jump through the same hoops as everyone else. Coin dealers  jumped on the bandwagon, and in the 1990s the dealer fixed price lists that showed up in the mailbox (almost every day, if you cast a wide net) took a quantum leap forward in production values. Of course my favorite luddite dealer Jim O’Donnell, who tried very hard to never produce a piece of paper with his name on it, just kept up setting up at shows with his briefcase of 50 or so coins. It worked for him, but those days are gone.

The table stakes grow ever larger, with the impact that IT has become a crucial part of the coin business. Sure, you can walk shows as a vest pocket dealer, and, if your trading skills are top notch, you will do OK. But if you are doing any retail business, or trying to operate at scale, IT has to be the backbone of your numismatic operation. The big dog in the marketplace, Heritage Auctions, understood this earlier than anyone else and had the vision to make it happen. They’ve earned everything they’ve become, and it was no accident. They’ve set the bar for retail coin trading – you have a website that is constantly updated with new inventory and easy-to-use features. But, while Heritage was doing all that, something else happened. The Microsofts of the world put extraordinary power into people’s hands, the ability to build their own websites with considerably less knowledge than the large team of programmers that works at Heritage or Stack’s Bowers.

GFRC isn’t Heritage, and doesn’t want to be. Gerry is sick of corporate operating environments and would rather grade Morgans for a living than go back to that lifestyle. But Gerry can still participate as a dealer with a lot less overhead. He has a one-man IT department, actually less than that, as Matt Yamatin only works part-time on the GFRC site. Gerry was already familiar with digital photography as the barrier to entry has shrunk considerably in the last couple decades (not to mention a lot of practice on his own coins), and you simply don’t need professional coin photographers to produce commercially acceptable work (though to be sure, some of the professional guys put out fantastic images). Producing the GFRC website would have been a considerably more complex task 20 years ago.

So we’ve seen desktop publishing and website creation become accessible to the masses. Video has quickly followed, and at massive scale. Some of this gets lost on coin collectors, whose demographic skews older. TikTok aggregates short videos by the millions, as does YouTube. Billions of people are walking around with cell phone cameras, and all that video has to go somewhere. Streaming video, ie. the capability to deliver individual video feeds to millions of viewers simultaneously,  has completely upended the entertainment industry, which has become completely segmented as a result. All of this brings us to video within the numismatic sphere.

VHS recorders showed up at coin shows early on, perhaps as a novelty more than anything else, ie. we have this cool new toy, let’s go tape a coin club meeting, because we can. David Lisot consistently captured video at numismatic events beginning in the mid-1980s and today has a catalog numbering about 2,000 items (all of which is digitized on the Newman Portal at https://nnp.wustl.edu/library/multimediadetail/522852). Most of this video falls into the education category, and one can find talks on just about any subject. While this remains an important archive, the initial delivery impediments minimized the impact of the content – you had to purchase a videotape, or borrow it through the ANA, via snail mail. An official of a numismatic organization that has an important videotape library recently noted to me that they’d made only half a dozen video loans in the last year. Video delivery through the mail is a non-starter in the Internet age.

On the commercial side, video is becoming a more important sales tool. Seeing coins in hand has always been one of the key reasons to attend coin shows in person. Images are a poor substitute, though to be sure, if you frequently buy from the same dealer (and photographer), you will develop a feel over time for the quality of a coin, just based on an image. GFRC builds consistency by doing photography with a well-curated set of rules – only outdoors and under optimal lighting conditions. If it’s a rainy day, no coins get photographed. As a result, few coins get returned for issues not revealed in the images.

But video brings a new dimension – you can now view a coin online as light bounces off the surface from different angles. Again, the barriers to entry are minimal – a free hand and a cell phone can do it. Aaron Berk, of Harlan Berk Rare Coins, frequently posts such videos on Facebook (sample at https://www.facebook.com/aaron.berk.3110/videos/887068045360862). Muenzen & Raritaetenshop, a Swiss firm, does something similar (click on a video sample at https://www.muenzenonline-auktion.ch/catalog/view/live-auction-no.-14-part-i-1612786195). Heritage, as would be expected, has a more mechanized approach (click “360 Video” at https://coins.ha.com/itm/trade-dollars/silver-and-related-dollars/1885-t-1-trade-pr63-cameo-pcgs-cac-pcgs-87065-/a/1326-3030.s?ic4=GalleryView-ShortDescription-071515). All of these presentations provide more information to potential buyers – you don’t have to wait until you receive the coin at home to twirl it under a light source.  It’s not a hard thing to deliver from an IT point of view, and I expect to see more and more of this.

While this form of imaging becomes more accessible, technology pushes forward. The state-of-the-art coin photography today is Reflectance Transformation Imaging, or RTI. You basically place a dome of cameras over a coin, shoot it from every possible angle with varied lighting, and let the software do the rest. A more detailed explanation is at https://collections.libraries.rutgers.edu/roman-coins/rti. As this originated in academic circles, most of the work has been done on ancient coins. The overhead to create these images remains substantial, so don’t expect your neighborhood coin dealers to be imaging their inventories with this technology.

Still more advanced is the use of a scanning electron microscope (SEM), which can provide detail on what is underneath the visible surface of a coin. This is reminiscent of a curator chipping away at an Old Master painting and uncovering the layers of patina that combine in the final work. Could SEM testing detect coin cleaning or conservation? I have no specific knowledge this is possible. But, if you think the coin market is crazy now, imagine having a tool like that in the hands of the grading services.

Apart from revealing the coins themselves, video is a useful marketing tool for connecting with clients in a different way. It’s one thing to see what a person writes, or what is written about them, but the experience is different when you actually see them on video. Facial expressions, spoken tone and inflections deliver substantial information that is sometimes hard to convey with words alone. GFRC has made a small step in this area with Zoom-based pre-auction previews for the recent Sunset and Cumberland consignments, and intends to continue providing similar presentations. Don Kagin has taken a related approach, providing educational videos in conjunction with his Spring ANA sale (the first was just posted at https://www.youtube.com/watch?v=9MIKxfbAaZg).

Technology will continue to shape the numismatic market. Who could have imagined 20 years ago that someday coin dealers might only buy coins that would “image well” on their website? But, here we are, and it’s not going to slow down. Good coins will remain good coins, but the way they are researched, marketed, and traded will continue to evolve.


Twin Lakes Collection - A Host of PCGS AU58 Offerings

The Twin Lakes Collection is back with yet another release of wide ranging 19th and 20th Century coinage at the AU58 grade level. This offering contains early date Washington quarters plus Morgan/Peace dollar VAMs that will garner attention on Collectors Corner. Mixed in are nice Liberty Seated dimes for the regular GFRC crowd. The display opens with a choice key date 1928 Peace dollar.

Look for these offerings to reach the price list today followed by a Collectors Corner posting.


Twin Lakes Collection - A Host of PCGS AU58 Offerings

1928 PCGS AU58 $1

 1860 Pointed Bust PCGS AU58 1C                  1898 MPD PCGS EF40 1C                      1928-S Large S PCGS AU58 1C


 1931-S PCGS AU58 CAC 1C                      1876 Unlisted PCGS AU58 10C                      1884 F-108 PCGS AU58 10C


   1887-S F-102 PCGS AU58 10C                    1888-S F-110 PCGS AU58 10C                 1890-S F-103 PCGS AU58 10C   


1934 DDO PCGS AU58 25C              1934-D Heavy Motto PCGS AU58 25C                 1935-D PCGS AU58 25C   


      1943-S DDO PCGS AU58 25C                   1886 VAM 21 PCGS AU58 25C              1887-O VAM 22A PCGS AU58 25C   


1922 VAM 12A PCGS AU58 25C                  1922-D VAM 4 PCGS AU58 25C                     1935-S PCGS AU58 25C       



The St. Patrick's Day Weekend Sale Will Go On As Planned!

How I love to stir the pot on occasion. Back in the semiconductor industry management days, I was known for taking radical positions with staff to drive spontatenous creativity. Thinking out of the box was an imperative for staying competitive when the overriding goal was minimum 10% year-on-year cost reductions.

In yesterday's Blog, I made mention of potentially canceling the St. Patrick's Day sales event. Discounted item quantities were small as of Saturday morning. Why would I host a party if few people wished to participate being the premise?

Feedback promptly arrived with a consensus that the sale should move forward. Several more discounting instructions appeared during the day which helped the cause.

The St. Patrick's Day weekend sale will take place as scheduled. However, the amount of discounted lots will be notably lower than prior events. As pointed out in yesterday's Blog, the numismatic market remains hot with individuals not seeing a need for larger discounts. Secondly, is the fact that each GFRC sale will clear out a segment of aged inventory. After years of sales events, the number of aged coins has dramatically shrunk leaving recent consignments to bear the discounting burden.

Please remember that discounting inputs are due by no later than Tuesday noon. Afterwards, I will load the inputs in the COIN system and will issue a sales event confirmation email to each consignor.


Wrapping Up The Blog

Yes, I will be in the GFRC office for most of the day loading coins to the price list.

This coming week brings Covid-19 vaccination scheduling as Florida has dropped eligibility to those 60 years and older. Diane and I will be researching the online content requirements for scheduling an appointment at our local Publix.

Thanks for checking in at the Blog. Please feel free to make coin inquiries, purchases, and consignment proposals. I will be quickly working through the consignment backlog during the next two weeks.




March 13, 2021

Is the St. Patrick's Day Weekend Sale Warranted?


Pi Day?


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

Like many early mornings, I will enjoy breakfast while conducting fast paced online reading for potential Blog content ideas. This morning's exploration brought precious metal video viewing on the Kitco.com website. There were two take aways from the videos. First is geological inflation with respect to gold supplies. The cost to mine gold continues to increase as ore quality steadily drops. The second conclusion was that the 2020 gold price spike above $2000/oz was a supply/demand driven event due to to Covid-19 pandemic. Now that the globe is moving through a vaccination process to mitigrate the virus, gold prices are reverting to a more "normal" price growth curve due to geological inflation. The two primary sources of gold demand will continue to be financial investment and jewelry manufacturing.

The gold topic is being mentioned as GFRC has a fairly large U.S. gold price list. During the pandemic and rising gold bullion prices, the accumulated supply of $20 double eagle gold coins was exhausted. As spot gold prices receded, I've been holding back on restocking $20 gold pieces for obvious reasons. Investing in inventory during a downward pricing trend brings considerable risks. Current demand is also anemic unless gold pieces are priced at spot.

Conversely, demand for CAC approved smaller denomination gold is robust. I expect this trend to continue regardless of where the price of spot gold bottoms out.


Is the St. Patrick's Day Weekend Sale Warranted?

Every dealer has been citing that the numismatic market continues to be robust. Close to home, GFRC sales are ahead of 2020 with no signs of easing. The amount of demand from new collectors is short of amazing. With strong demand in a hot market, replacing sold inventory becomes ever more challenging. I find myself paying more to acquire the quality coins that are the mainstay of GFRC's reputation. Therefore, most sales are taking place at the listed prices. Sure, every customer will ask for a discount. Unless a coin has aged for several years, current prices are being adhered to due to buoyant demand.

A proxy for the strength of the current U.S. numismatic market might be the willingness of consignors for discounting during one of the annual GFRC sale events. For the upcoming St. Patrick's Day Sale, discounting inputs have been feeble. Consignors don't sense a need to lower coin prices since their numismatic items are selling well at present market levels. In particular, Liberty Seated halves are on fire with the PCGS Price Guide raising prices. Is there an incentive to markdown coin prices during this type of market? I certainly don't plan to discount GFRC own inventory, again as replacement will come at a higher price.

Bottomline, I'm toying with the idea of canceling the St. Patrick's Day Sale due to weak consignor discounting inputs. The final decision will be made on Sunday afternoon. If the present discounting inputs continue to be weak, one must rationalize the thought of a 150-250 piece sale as compared to past sales that were consistently held with 500-600 offerings.

Stay close to the Daily Blog for an update on this topic. It is recognized that a certain group of "value buyers" will be disappointed if the sale is cancelled.


Notable Correspondence from the GFRC Email Inbox

The GFRC email Inbox is a busy platform. Emails are constantly arriving with purchase orders, buying opportunities, consulting requests, and the ever present spam. You can not imagine the number of unsolicited emails that are received daily from those trying to sell SEO or website design services. I'm on a crusade to block the email addresses of every one of these unsolicited emails with the hope that they eventually disappear. So far, the situation is like shoveling sand against the tide. The more email addresses being blocked only leads to more solicitations.

I've digressed from the intended reason for this segment.

Yesterday brought two notable emails that are worthy of sharing. The first is from a person unknown to me. The email was a response to the potential final auction price of the exceptional 1823 O-106a Capped Bust half featured in Friday's Blog as part of the Burrowing Owl Collection auction.

 The piece you displayed this morning is quite lovely.  A CAC price list “value” of $375 shows in the charts.  It’ll be pretty interesting to see what bids you might receive for it.  I am NOT one to pay more than the list but would pay $375.

This email illustrates the challenge that inexperienced collectors face with pricing exceptional coins. Not willing to pay more that $375 for the 1823 half was a teaching moment as GFRC sold this piece into the Burrowing Owl Collection several year ago for $1200. My expectation is the final realized price could be several thousand dollars as this piece possesses to die for eye appeal.

A second email appeared during the afternoon hours that warmed my heart. The email brought feedback from the new owner of the Sunset Collection's 1856-S PCGS AU58 CAC Seated half that realized $14,999.

Gerry: After looking at this coin repeatedly, I would like to re-emphasize just how much I appreciate it. Mesmerizing to look at.

To use your word, I am cherishing the piece.

I understand your time is valuable and this email represents a few minutes of time lost - sorry - however I felt it was necessary to reinforce just how happy a collector/customer I am at this time.

There is nothing to add on my part other than this email typifies the joy of collecting.


Pi Day?

GFRC recently sold a solid early type coin lot to a new client. The individual is a university professor of mathematics and is a thoroughly organized individual.

During our email exchanges, he wished me a Happy Pi Day. My curiosity was instantly piqued by the topic. A Google search ensued with the discovery that March 14 is indeed designated as Pi Day. Following is a short excerpt from the nationaltoday.com website.

Pi Day is on March 14, and any day that combines fun, education, and pie is a day worth celebrating! Pi, also known by the Greek letter “π,” is a constant value used in math that represents the ratio of a circumference of a circle to its diameter, which is just about 3.14….15…9265359… (and so on). Not only that, but the fourteenth of March is also Albert Einstein’s birthday, so all together it’s nothing short of a mathematician’s delight.

How I enjoy continuous learning....


Sunday's Daily Blog Topics Preview

Sunday's Blog edition will be worth the visit so please note on your calendar.

Len Augsburger has prepared a truly insightful guest blogpost entitled Numismatic Video Marketing. Len is uniquely positioned to explain the quickly expanding usage of Zoom video technology for numismatic purposes given his role in coordinating the Newman Numismatic Portal video symposiums and GFRC Online Auctions sessions.

Secondly, I've been in communications with the consignor of the 47 piece Liberty Seated half dollar lot that arrived earlier this week. We've reached agreement on a marketing and sales strategy. That strategy will be formally announced tomorrow.

Finally, a new client has decided to work closely with GFRC for revised collecting goals. Part of the realignment process was letting go of a substantial number of key date Lincoln and Indian head cents, many with CAC approval. His divestment arrived yesterday. My role is to make an offer on a portion and determine which might be best suited for sale on a consignment basis.


Wrapping Up The Blog

This morning brings a top down decision from the GFRC CEO to hold shipping until Monday. The FedEx shipping transition is moving along well with positive feedback. However, one of the FedEx shipping restrictions comes from our business insurance carrier, Hugh Woods. FedEx shipments made on Friday and Saturday will not be insured per the carrier. Their current policy is insuring those of USPS but not FedEx. As a result of this restriction, GFRC must use USPS exclusively on Friday and Saturdays. As we are still in the midst of trying to find a lost USPS shipment to California (it looks bleak), I am not inclined to again ramp usage of USPS shipments, period.

Therefore, GFRC will not be shipping today. Instead, Monday brings a heavy FedEx shipment day. The extra office time will be allocated to image processing of a lower priced lot that has been patiently waiting in the consignment queue.

Thanks for visiting with me at the Blog.




March 12, 2021

The Amazing Burrowing Owl CAC Approved Capped Bust Half Dollar Collection Gallery


GFRC Consignment Wave Continues


Greetings on a Friday morning and welcome to a special Daily Blog edition. I hope that you enjoy today's illustrations!

Blog fans are in for a really special treat as the Burrowing Owl client gallery is published a day ahead of commitment. The GFRC order rate has diminished due to the upcoming St. Patrick's Day weekend sale. The slower office pace provided mental space for becoming engrossed with a truly special client gallery. Like a chef working is a kitchen, I spent Thursday afternoon creating beautiful artistry. A chef's meal is only as good as the ingredients. My client galleries are only as good as the consigned coins. The Burrowing Owl Collection consignment brings the finest of artistic ingredients. You are invited to view the eloquence of this amazing CAC approved Capped Bust half dollar collection. Remaining are three halves to complete after the Blog is published.

As a reminder, the Burrowing Owl's CAC Approved Capped Bust Half Dollar Set Sale online catalog will be published on March 20, next Saturday. Bidding for these exceptional halves begins on March 27 and closes the following Saturday on April 3.


The Amazing Burrowing Owl CAC Approved Capped Bust Half Dollar Collection Gallery


1815/2 O-101 PCGS EF45 CAC 50C  

1817 O-110 PCGS AU55 CAC 50C                                                1823 O-106a PCGS EF45 CAC 50C   


1807 Lg Stars 50/20C, O-112 PCGS EF45 50C                                    1808 O-109a PCGS EF45 CAC 50C      


   1809 O-103 PCGS AU50 CAC 50C                                           1810 O-101a PCGS AU55 CAC 50C


 1811 Small 8 O-105a PCGS AU55 CAC 50C                                    1812 O-105a PCGS AU55 CAC 50C     


 1813 O-106a PCGS AU50 CAC 50C                                        1814 O-104a PCGS AU55 CAC 50C 


 1818 O-109 PCGS EF45 CAC 50C                                         1819 O-109 PCGS EF45 CAC 50C 


 1820 O-105 PCGS AU55 CAC 50C                                         1821 O-105 PCGS EF45 CAC 50C 


1822 O-106 PCGS EF45 CAC 50C                                         1824/4 O-110 PCGS AU55 CAC 50C 


1825 O-115 PCGS AU55 CAC 50C                                         1826 O-110 PCGS AU50 CAC 50C 


1827 O-104 PCGS AU50 CAC 50C                                           1828 O-112 PCGS EF45 CAC 50C 


1829/7 O-101 PCGS EF45 CAC 50C 



GFRC Consignment Wave Continues

My humble start-up numismatic business continues to attain new heights as the supply of quality consignments accelerates. The balance of March and the entire month of April will be an exciting time for the GFRC community. Quality consignments are arriving well into next week. Some are smaller 5-6 piece lots while others are serious collections. Newly arrived consignments include those from the Stone Cold Collection and an anonymous New England collector. Shipping next week is a partial Liberty Seated dollar collection with special treats; an 1795 Flowing Hair 3 Leaves dollar graded PCGS VF20 with CAC approval and a 1877 Trade dollar grade PCGS G04 with CAC approval. Notable Liberty Seated dollar dates include 1850-O, 1856, 1859-S, 1870-CC, and 1872-S. Additional noteworthy offering include two LSCC 40th Anniversary medals. Presently, I am not taking First Right of Refusal requests. There will be an appropriate time for these requests to be scheduled and acknowledged.

Following are the upcoming items in the Stone Cold Collection and that of an anonymous New England collector. Photography and image processing will take place this weekend.

Capped Bust 10C: 1821 Sm date JR-9 PCGS EF40

Capped Bust 25C: 1825 B-2 NGC EF40 CAC fatty holder, choice steely surfaces and luster

Seated 25C: 1860-O PCGS AU55 frosty rose-gray

Seated 50C: 1860 PCGS EF40 CAC crusty golden-gray; 1860-O PCGS EF40 CAC crusty gray, 1861-O W-6 PCGS EF45 crusty gray; 1861-S WB-4 PCGS EF45; 1874 PCGS VF35 CAC

Seated $1: 1863 PCGS VF35 original crusty gray

Liberty $20:1900 PCGS MS64+ CAC frosty orange-gold


St. Patrick's Day Weekend Sale - Discounting Input Due by March 16

The annual St. Patrick's Day Sale event will be upon us before we know it. A quick glance at the top banner and countdown clock indicates six and one half days remain before the sale opens.

Consignors who wish to participate in the upcoming sale have until Tuesday noon to submit their discounting instructions.


Global Financial News

Whoops... After several upbeat Nasdaq trading days, today's morning market futures are pointing down again. The financial news media continues to blame higher 10 year U.S Treasury bond yields (1.61%) but I'm not buying it. We are seeing a substantial sector rotation into quality consumer stocks. The latest NFT auction news has me wondering if the Big Tech elites have too much money on their hands. More on this thought shortly.

In Asia, Japan +1.7%. Hong Kong -2.2%. China +0.5%. India -1%.

In Europe, at midday, London -0.3%. Paris -0.1%. Frankfurt -0.7%.

Futures at 6:20, Dow -0.1%. S&P -0.5%. Nasdaq -1.7%.

Crude oil is up at $65.89/bbl while gold is down to an even $1700/oz. Bitcoin is quoting at $56,779.

I could not pass up sharing this Seeking Alpha headline on the newest high technology craze. An NFT JPEG mosiac just sold for $69.3M. Maybe a mosiac of the Burrowing Owl Capped Bust halves might be worth a paltry $100,000? Dream on as GFRC is not a social media "star".

NFTs are becoming wildly popular among investors as the latest crypto craze takes the digital art world by storm. Auction house Christie's just sold Beeple's Everydays - The First 5000 Days for $69.3M, far eclipsing anything that has been bought in the industry. The JPEG is a mosaic of every image that artist Mike Winkelmann, who goes by the name Beeple, has made since 2013.

What is an NFT? As mentioned earlier this week, it's a type of encrypted file - run on Ethereum blockchain - that's used to represent a unique asset and is valued as collectors' items. They offer ownership of memes, GIFs and videos, not just a screenshot or copy of an item. NFTs work like other speculative assets, where buyers hope their value goes up and they can be sold for a profit. Some investors caution the market could represent a price bubble, but ARK Invest feels NFTs will "unlock more value for content creators than any platform in history."

The latest sale vastly outstrips the previous record for a Beeple work, which was the $6.6M paid last week for a 10-second video. It would also make Beeple among one of the top three most valuable living artists. Many didn't even think Everydays - The First 5000 Days could hit such an astronomical figure, given that the two-week online auction originally commenced bidding at $100.

Bigger picture: Earlier this month, Twitter founder Jack Dorsey listed an NFT of his first tweet for auction; the highest offer currently stands at $2.5M. Square's agreement to buy Jay-Z's Tidal platform could also be an opportunity for another Dorsey company to use NFTs to help musicians sell their works directly to fans and collectors, rather than relying on streaming services such as Spotify. NFTs have also been gaining traction in sports, with the NBA offering NFTs of sports "moments" that fans can bid on. A LeBron James dunk sold for more than $200K in late February. 


Wrapping Up The Blog

Today's blog and the Bitcoin/NFT craze is making me feel old and obsolete. My passion is for physical assets including the most well preserved U.S. numismatic items. What is this exceptional 1823 Capped Bust half truly worth in an age of digital video and images that bring six to eight figures? Let's reflect on that thought for a moment.

1823 O-106a PCGS EF45 CAC

Throw out the price guide when evaluating this wonder coin, and even the CDN CAC price won’t be the best indicator. It is hard to imagine letting go of such a coin, but our consignor has made that difficult decision, and the market will decide its true value. The stars and legend of this eye popping example exhibit a thick band of electric blue, surrounding silver and gold centers that are neatly framed by russet patina. The eye appeal is off the charts and exceeds that of a substantially higher graded untoned example. The colonial dealer Dick Picker was well-known for simply pricing coins, rather than grading them, and the approach is apropos here – this coin’s value is far more dependent on the spectacular toning than the EF45 technical grade. Were this on the GFRC price list with a JUST BUY IT NOW designation, multiple inquires would be immediately received.


At the Blog, your host is just an old fashion conservative who believes in traditional values and gorgeous coins. Thanks for checking in on a Friday.




March 11, 2021

Quality Seated Liberty Quarters from the Woodbridge Collection


Greetings and welcome to another Blog edition. It is a Thursday morning.

The operations and business pace in the Venice GFRC office continues to chug along like the Energizer Bunny. Half the fun of operating GFRC are the constant surprise consignments and buying opportunities. As the GFRC reputation continually expands, the number of opportunities also increase.

USPS dropped off an Express shipment on Wednesday and rang the doorbell. My chat with the daily carrier appears to have been shared with those in the Venice Island station that handle the Express deliveries. I'm pleased with the measureable progress.

The Express shipment contained a 47 piece Liberty Seated half dollar consignment that is absolutely top notch. A discussion is planned with the consignor to determine the marketing and sales strategy. This consignment is jam packed with strictly original surfaces, many with CAC approval. If not CAC approved, the halves are close and worthy of many collections being assembled.

There is another coming GFRC attraction that will ship shortly. I've been consulting with a new client. Like many individuals that I advise, he is in the midst of a collecting course correction. His 20th century key date "type coins" are no longer centric to revised collecting goals. My advise to this gentleman was a CAC submission before attempting to sell/consign the lot with GFRC. He called yesterday to report a 40% CAC approval rate and plans to ship this substantial numismatic property come next week.

Fundamentally, GFRC is a relationship business. Just like that trusted doctor or money manager, my goal is to become a numismatic adviser to those who are passionate about their hobby. Mutual respect is foremost. Respect brings trust which can lead to new levels of collecting attainment when two parties work toward common goals. Conversely, those who attempt to leverage my goodwill for a win-lose event will have a short stay.


Burrowing Owl CAC Approved Capped Bust Half Dollar Set Sale Update

Much Burrowing Owl image processing progress was achieved on Wednesday. This morning's shipping queue is minimal and provides extra time to complete the twenty-two images in time for a Friday evening client gallery posting. The gallery will trigger Len Augsburger's description generation during the coming weekend. We might also see a fresh guest blog from Len are some point next week...

I'm excited to be handling the Burrowing Owl Collection due to the overall quality. Let's hope that that excitement is shared once the client gallery is posted on Friday afternoon. I'm sure it will as the individual pieces are spectacular for their originality and natural eye appeal.


Quality Seated Liberty Quarters from the Woodbridge Collection

The Woodbridge Collection consignor has been with GFRC for years. Roughly every six months brings a new duplicates consignment. It is so rewarding to see a collector's growing maturity when consigned lot quality is on a continuous improvement path.

The following six piece Liberty Seated quarter lot is notably attractive and will garner instant demand. I took the liberty of posting the lot to the price list last evening without long descriptions. The images speak for themselves. Already, the 1877-CC is on hold. Someone is questioning the asking price of the 1875-CC PCGS F15 quarter that is CAC approved. The 1875-CC date is a sleeper in circulated grades when CAC approved. CAC prices have been climbing due to this fact. Back in 2018, GFRC sold a F12 CAC approved example example for $500. In hindsight, that was a bargain as today's guide price is $585 and jumping to $750 in F15. The CAC approved population for both grades combined is two! CAC approved VFs will run at least $1250 in today's market.

The 1875-S date is another odd fellow that lacks appreciation. Mintage is 680,000 but few are ever seen in circulated grades. Most survivors will be found in Mint State as is the case for this lovely PCGS MS63 CAC offering. Total CAC approved population in all grades is a meager 18 pieces. Why? This date was poorly struck when the San Francisco mint was forced to ramp Liberty Seated dime, quarter and half dollar production in parallel. Liberty Seated dimes are notorious for weak strikes from eroded dies. The quarters are not much better along with having circulated extensively.


Quality Seated Liberty Quarters from the Woodbridge Collection

1875-S PCGS MS63 CAC 25C

1857 NGC MS63 CAC 25C                                                       1875-CC PCGS F15 CAC 25C


 1843 PCGS AU55 25C                                  1875 PCGS AU58 25C                              1877-CC PCGS AU58 25C



Global Financial News

2021 is shaping up as another robust year for equity markets. The U.S. $1.9 Trillion stimulus act will pump more monies into equities through indirect channels. The Federal Reserve is still buying bonds. On Wednesday, the DJIA closed at 32,297, yet another record level. The tired Nasdaq is in recovery mode with morning market futures suggesting another day of strong gains. Some of the stimulus monies will find their way into the numismatic and bullion markets. I'm expecting more increases for CAC approved coins.

Following are morning market futures courtesy of Seeking Alpha.

In Asia, Japan +0.6%. Hong Kong +1.7%. China +2.4%. India closed.

In Europe, at midday, London -0.4%. Paris +0.1%. Frankfurt -0.1%.

Futures at 6:20, Dow +0.1%. S&P +0.5%. Nasdaq +1.8%.

The crude oil price spike appears to have abated for the time being. We start the day at $64.91/bbl.

Spot gold prices are attempting a rally with morning trading at $1732/oz. Bitcoin is priced at $55,580. The 10 Year U.S. Treasury yield has receded to 1.5% which is bullish for equities and precious metals.


Wrapping Up The Blog

As mentioned earlier, today's shipping is light and will allow me to quickly move into the image processing department. Besides the Burrowing Owl Collection workload, there are still about 50-60 lower priced coins in the imaging queue that need attention.

The St. Patrick's Day sale banner is posted as a reminder to consignor to consider their participation and discounting strategies. As usual, there will be a quiet sales period before the March 19 through March 21 weekend sales event. My plan to counter that predictable collector behavior by bringing more fresh coins to the price list during the upcoming week.

Overall, I am bullish for our numismatic market during 2021 and expect prices to rise for quality early type coins. The current supply is limited.

Thanks for checking in at the Blog.




March 10, 2021

Announcing The Burrowing Owl CAC Approved Capped Bust Half Dollar Set Sale


St. Patrick's Day Weekend Sale Arrives Soon!



Greetings on a Wednesday morning and welcome to another Daily Blog edition. Your ongoing visits are appreciated.

I'm pleased to report that all but one of the Sunset Collection auction shipments are on their way to successful bidders. The final Sunset shipment will go out today.


GFRC's FedEx Conversion Update

The FedEx system conversion is moving along with an expanding GFRC client database. Constructing an all new GFRC customer database on the FedEx platform will take time and meticulous attention to details including phone numbers for shipment delivery messaging. Our goal is to migrate 90% of GFRC shipments to the FedEx platform by early April.

The Fedex transition is exposing concerns from collectors who are traditional USPS customers and have not been exposed to FedEx or UPS deliveries. As with any change in a long standing routine, there are anxieties. Clients are worried that the alternate transport method will be problematic. Believe me, GFRC does not wish to conduct a shipping carrier change during the middle of a hot coin market. We are changing horses midstream due to USPS becoming erratic with an antiquated information (tracking) system. The USPS Postmaster General's decision to close many distribution centers is having negative consequences. I've reached the point where every USPS Priority box shipment comes with the worry for an insurance claim. Insurance claim are tedious to process and raise rates. Secondly, the "why is my GFRC coin shipment late?" emails quickly grow old. One can only explain the wide USPS operating variance a reasonable number of times before the solution becomes all too obvious.

So far, GFRC customer feedback for FedEx transport has been positive. Orders are being delivered against committed scheduling. Some clients report the receipt of text messages announcing a forthcoming delivery.

A sincere thank-you goes out to all in the GFRC community for supporting the FedEx transition.


Announcing The Burrowing Owl CAC Approved Capped Bust Half Dollar Set Sale

I'm most pleased to announce that the Burrowing Owl CAC Approved Capped Bust Half Dollar Set Sale is queued within the GFRC Online Auctions platform.

Today's Blog showcases the new Burrowing Owl auction banner and a magnificent 1823 Capped Bust half dollar marquee offering. The Burrowing Owl Collection contents can be inspected via a scrollable table at the upper right. Please note that the auction now includes the 1815/2 key date graded PCGS EF45 with CAC approval. This 100% original and natural coin gray specimen is certain to receive much scrutiny.

Image process begins in ernest during the afternoon hours. I'm working towards an awesome debut of the Burrowing Owl's Capped Bust half dollar collection within Friday's Daily Blog edition. This will be a magnificent display that is not be missed.

There are three important dates to remember for this upcoming GFRC Online Auctions event.

- March 20 brings the arrival of the online auction catalog including descriptions and reserve prices.

- Bidding opens on Saturday March 27 at 9:00 PM.

- The Burrowing Owl auction closes on April 3, also at 9:00 PM. Winning bidders will be invoiced starting on April 4.


St. Patrick's Day Weekend Sale Arrives Soon!

With a host of GFRC office activities, one can lose track of the many projects that require careful management. Thank goodness for the Daily Blog. The Blog is a day to day diary and public project management report. Sitting down at the laptop each morning brings time to reflect on business deliverables and reinforces personal accountability and transparency.

The St. Patrick's Day Weekend Sale is quickly approaching. The time has arrived to launch the traditional countdown banner at the top of the GFRC website. This step will be taken today. Once the banner is posted, consignors will quickly determine their sale strategy and send along discounting instructions.

As a reminder, the St. Patrick's Day begins on Thursday March 18th midnight and closes on Sunday March 21st at 9:00 PM. Complicating the sales' banner countdown clock is the arrival of Daylight Saving time on March 14.

Consignor deadline for St. Pat's Day sale participation and discounting instructions is March 16th noon. Please remember to use "GFRC St Pat's Sale Discounting Instructions" in the email's subject line. Thank-you for the help on this matter.

Yes, there are too many dates to remember!


Oregon Beaver's Standing Liberty Quarters Post to Price List

Tuesday afternoon brought the posting of the "Luster Parade" to the GFRC price list. The Oregon Beaver Standing Liberty quarters are presently available for purchase. Already, five pieces are on hold with the balance seeking new homes.

You are invited to visit the 30 Day Price List once wrapping up a Daily Blog visit. The latest Oregon Beaver offerings will be found at the top of that price list. Leading the new listings is an important 1919-D PCGS MS66 Standing quarter with only one finer at the MS67 grade level. CoinFacts does not list an auction record for that lone MS67 example.


Global Financial News

Global equity market futures are forecasting flat trader sentiment after a substantial U.S. tech rally earlier this week. The Nasdaq has recovered the 13,000 level while the DJIA stands at 31,833. Rotation out of Big Tech and into traditional consumer stocks should continue during the next six months as people return to "normal" lives post Covid-19 pandemic.

Following are morning market futures courtesy of Seeking Alpha.

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

In Europe, at midday, London -0.3%. Paris +0.4%. Frankfurt +0.2%.

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

Spot gold prices are holding above the $1700 level with a morning quote of $1712/oz. I'm closely monitoring gold's technical charts. Presently, moving averages have broken down as lower lows are being realized. Attempting to forecast a correction's bottom is challenging. At some point, I will begin adding more bullion pieces to the personal stockpile. There is something to be said for a reasonable amount of physical financial insurance.

Crude oil pricing has retreated slightly to $64.11/bbl. Bitcoin is priced at $54,972 and is being elevated by cash flow from Big Tech names.

The 10 Year U.S. Treasury bond yields is back to the 1.6% level.

All eyes will be on the passage of the $1.9 Trillion stimulus bill that will juice up the U.S. economy as we move into the spring and summer months. Some of the stimulus will undoubtedly move into the numismatic market. I'm expecting 2021 to be another banner year for GFRC coin sales.


Wrapping Up The Blog

If you've read through this entire edition, it should be clear that today's GFRC office workload is again substantial.

Let's end the Blog at this point as I need to get on with early morning shipping preparations and responding to overnight orders.

Thanks for checking in at the Blog.