Coin Market Reacts to a Rough Week for Metals
Both Retail and Wholesale Sectors Coming Out of Their Holding Patterns as Some Sense of Normalcy Returns
Oct. 12, 2016 - Metals cast a temporary grey cloud on the coin market last week, as both collectors and investors took a wait-and-see posture, to see both when and where the dust settled. It seems that after a tumultuous Thursday and Friday, the metals markets have stabilized. This was somewhat evident on Certified Coin Exchange (the major electronic coin dealer trading network) today, as activity slowly returned to a normal level. Although we believe that metals have been in a long bear cycle, we don't anticipate any further dramatic movement. Whether traders realize it or not, they have actually become accustomed to this market. Spend enough time in any arena, and an individual becomes desensitized to their environment; this is human nature. So, how do we see metals impacting coins in the foreseeable future? That is the million dollar question!
It really is necessary to make an important distinction between bullion and numismatics. The former relies on a commodity and is investor driven, the latter sector is purely collector driven. There are a variety of reasons that attract collectors to rare coins, but at the end of the day, they are still collectors. For this reason, we do not anticipate collectors going AWOL, and the long term prognosis for the hobby in general, should be good. However, the collectors that buy coins for investment reasons have become more tentative of late, and this is an important difference to understand. Without this sector, many of the higher priced properties are having difficulty finding new homes. Our observation has been that $500-$5000 coins still represent the comfort range for many collectors, and the right coin at the right price will have a short life in the marketplace. Through the ups and the downs of the coin market, our company (and others with similar business models) have still been selling coins. We said last week that the collectors are out there making their presence felt. But, in today's challenging market climate, many prefer the approach of doing business more quietly, flying under the radar.
This week, The Reeded Edge continues our coin show hiatus. We are still playing catch-up in the office, pushing coins through the grading services, processing dormant inventory which was the collateral damage from a busy road schedule, and most of all, enjoying a well-needed breather from the perils of being on the road. With that said, we still have quite a few new purchases on the immediate horizon, so rest assured, our inventory will not remain static.
Buying continues to be a major emphasis here in the office. If you have any fresh or interesting coins for sale, please call our office at 301-724-0400 during normal business hours or either Rob @ 240-422-0118 or Robbie @ 301-876-1332 after-hours. We love fresh material, and our aggressive offers will definitely reflect that.
Highlight New Purchases
- 1822 Large Cent, PCGS XF-45, CAC Approved - Perfect chocolate brown surfaces with much original mint gloss.
- 1914-S Lincoln Cent, PCGS MS-65 RB - Original GEM with no surface distractions.
- 1864 Two Cent Piece, Small Motto, NGC AU-50 BN - Chocolate brown, original and very pleasing.
- 1866 Two Cent Piece, PCGS PR-66 RB - Gorgeous coin with pastel overtones.
- 1867 Two Cent Piece, Doubled Die Obverse, PCGS AU-50 - Pleasing original brown example of this underrated doubled die.
- 1881 Three Cent Nickel, NGC PF-65, Old NGC Fatty - Pretty multi color toning seldom found on this type.
- 1862 Three Cent Silver, PCGS MS-66, CAC Approved - Superb GEM example with stunning cobalt blue and soft-pink toning.
- 1885 Liberty Nickel, PCGS PR-66 - A satiny style GEM specimen that appears more mint state than proof.
- 1912-S Liberty Nickel, PCGS MS-64 - Fairly well struck with some obverse iridescence.
- 1880 Liberty Seated Dime, PCGS MS-65, OGH - Pretty original toning interspersed with intense, underlying luster.
- 1898-S Barber Dime, PCGS MS-63 - Satiny white with a wisp of toning, this is an unbelievably scarce date in mint state.
- 1875-S Twenty Cent Piece, PCGS MS-64 - Pretty original luster with just a touch of violet on the obverse.
- 1815 Capped Bust Quarter, PCGS XF-40, CAC Approved - Wholesome, original and problem-free; a lovely circulated example.
- 1932-D Washington Quarter, PCGS MS-62 - White and untoned with soft luster.
- 1829 Capped Bust Half Dollar, PCGS AU-58 - Original silvery centers with darker toning at the peripheries.
- 1837 Capped Bust Half Dollar, PCGS MS-61 - Strong luster and looks much better than the assigned grade.
- 1844-O Liberty Seated Half Dollar, PCGS MS-62 - Super-fresh and somewhat prooflike; Attractive!
- 1874 Liberty Seated Half Dollar, Arrows, PCGS MS-63 - Mark-free original white surfaces with just a touch of gold and really choice for the grade.
- 1884 Liberty Seated Half Dollar, PCGS PR-65 - Off-white and lightly cameo; This coin is way too cheap right now!
- 1893-S Barber Half Dollar, PCGS VF-35, CAC Approved - Deep gold and original example of this RARE and undervalued date.
- 1920 Walking Liberty Half Dollar, PCGS MS-64 - A choice original-white example of this early date Walker.
- 1967 Kennedy Half Dollar, PCGS SP-68 CAM, SMS - Sparkling white and as deep as any proof imaginable. Wow!
- 1795 Draped Bust Dollar, Small Eagle, Off-Center Bust, PCGS VF-35 - Off white and problem-free example.
- 1797 Draped Bust Dollar, Small Eagle, 9 x 7 Stars, PCGS AU-53 - An attractive dove-grey example with luster evident in protected areas.
- 1801 Draped Bust Dollar, PCGS VF-25, CAC Approved - If only all VF Bust Dollars were this original and pleasing, this series would be on fire again. Really nice quality, especially for the grade.
- 1879-CC Morgan Dollar, Capped Die, ANACS MS-61- Soft white luster, indigenous to this date with small bagmarks, as expected for the grade-An honest BU example.
- 1885-CC Morgan Dollar, PCGS AU-58 - A popular date Morgan Dollar in an impossible grade.
- 1889-CC Morgan Dollar, PCGS AU-50 - Off white with some flash still remaining.
- 1893-S Morgan Dollar, PCGS XF-45 - Off-white with luster remaining in protected areas; Key date!
- 1895-O Morgan Dollar, PCGS MS-61 - Well struck for the issue with unusually flashy white surfaces.
- 1895-S Morgan Dollar, NGC AU-58 - A white slider UNC example of this better date.
- 1900-O/CC Morgan Dollar, PCGS MS-64 - Blast white and lustrous.
- 1901 Morgan Dollar, NGC AU-58 - Rare in mint state, and this white slider is very close.
- 1903-S Morgan Dollar, NGC AU-58 - A legit white slider, and much more scarce than CHOICE and GEM counterparts.
- 1926-D Peace Dollar, PCGS MS-65 - Glowing luster with a touch of gold at the peripheries; pretty!
- 1853 $1.00 Gold, Type I, PCGS MS-64 - Screaming orange-gold luster.
- 1889 $1.00 Gold, Ty III, PCGS MS-65, CAC Approved - A sparkling GEM with outstanding, mark-free surfaces.
- 1879 $3.00 Gold, PCGS MS-65, OGH - Semi prooflike with lovely luster and freshness.
- 1861 $5.00 Liberty Gold, PCGS AU-58, CAC Approved - Lovely original surfaces and looks mint state.
- 1911-D $10.00 Indian Gold, PCGS AU-53 - Very nice for the assigned grade with quite a bit of original luster remaining.
- 1863-S $20.00 Liberty Gold, Ty I, NGC XF-45, CAC Approved - Another poster child for originality; Nice!
- 1877-S $20.00 Liberty Gold, Ty III, PCGS MS-61 - Flashy, real BU example of this tougher date.
- 1906 $20.00 Liberty Gold, Ty III, PCGS MS-63 - A choice example of this very tough post-1900 date, it is exceeded in rarity by only the 1902-P and 1905-P.
- 1908-S $20.00 St. Gaudens Gold, PCGS MS-61 - The lowest mintage date in the series and very scarce in this grade.
- 2011 $50.00 Gold Buffalo, PCGS MS-70 First Strike - An absolutely PERFECT modern gold coin.
- 1921 Pilgrim Half Dollar, PCGS MS-67+ - Gorgeous, original coin with unbelievable flash and pristine surfaces. Among the finest known for the issue.
- 1847 Hawaii One Cent, NGC AU-55 BN - A perfect near-uncirculated example.
- 1985 China Mint ANA 1 oz Silver Wall of China Medal - A scarce and highly collectible silver medal struck by The China Mint in very limited quantities for the 1985 A.N.A. convention.
The Reeded Edge Launches our 5th Annual Toys for Kids Christmas Celebration with The Salvation Army
December 16, 2015 - Success can be measured a number of different ways. Thirty years ago when The Reeded Edge was conceived, the challenge was to pay the bills and derive an income. Fortunately, hard work really does pay off. Things are quite different for us today, and we now are in a position each year to help those in our community that are less fortunate. Five years ago, we teamed up with our local branch of the Salvation Army to provide toys for children during the holidays. This has turned into a tradition for us, with everybody in the company participating at some level. For us, this is one of our highlights of the holiday season. There is nothing more gratifying than watching children open presents and embrace the spirit of the holidays. We hope that each of you can touch someone's life during the holidays. It's really an uplifting experience that stays with us all year long.
Stolen Coin From the Baltimore Coin Show
September 9, 2014 - The Reeded Edge had a 1927-S Buffalo Nickel, PCGS MS-64, #3962.64/30179690 stolen at July 8th's Whitman Baltimore Coin Show. The coin is a golden white with nice luster and relatively clean surfaces. Originally purchased out of the Heritage June Long Beach auction, this piece is well archived, complete with high resolution photographs. It has a few very distinctive markings, and would be easy to identify in or out of its original holder. A "no questions asked" reward is being offered for its return. Any help from our customers or fellow dealers in recovering this coin is greatly appreciated.
Approval Service Available to Reeded Edge Customers
April 7, 2014 - As you peruse our webstore, you may notice ON HOLD next to the listing of a particular coin. This, amongst other things, could indicate that the coin is out ON APPROVAL to one of our customers. This allows the customer to examine the coin before making payment. For our well established clients, approvals are a preferred way of conducting business. For those not familiar with an approval service, here is how it works: The first step is to build a business relationship with us or any other recognized rare coin firm. If your previous business is with other firms, we ask you to provide three different credit references of dealers that have extended you credit in the immediate past. If your business is in-house, we will evaluate the nature, frequency and dollar amount of your business, and make a credit decision accordingly. Once established, you may use this privilege indefinitely. This gives you the ability to get the coin in-hand, examine it in the privacy of your own home and/or office for 24 hours, and then make your buying decision. This is a great option, and one that MANY of our regular customers take advantage of. Please also note, our approval service is not just for coins. It extends to any item on the webstore with a retail value of $1000.00 or more, including currency, vintage toys, political items, documents & autographs, exonumia and stamps. Please call our offices @ 301-724-0400, Rob on his cell @ 240-422-0118 or Robbie on his cell @ 301-876-1332 to discuss this service further.
July 5, 2014 - Yesterday, I was pondering the fact that our country turned 238 years old. The United States is the oldest westernized democracy in modern history. We are an enigma in many ways, but perhaps the most poignant thing that resonated with me was the fact that we are getting stronger with age. In our younger years, we were constantly challenged. Through history we have had to continue to fight and defend our position, proving time and time again that we were worthy of our status in the world pecking order.
Thirty seven years ago, I conceived the idea of The Reeded Edge. We were going to be a coin dealer that catered to servicing local customers through trade shows one or two weekends per month. It didn't take long for me to figure out that with hard work and persistence, that there just might be a career potential with this business. But figuring something out and actually taking action are two different matters entirely. It took me another twelve years to make the commitment, and take The Reeded Edge into a full time venture. Since then, we too have had our challenges. But despite them (or perhaps, because of them), we have emerged stronger and better to become the company that you know today. To a great extent, the addition of Ray Hunt 15 years ago and Robbie Jenkins 8 years ago, have allowed for that growth. By taking us to the next step, from a technological and numismatic standpoint, we are now able to do things and service our customers in a way that we could not have done in our early years. Like our great nation, I would like to believe that we are on an upward path, solidifying our position in the numismatic arena.
July 4th made me realize that we as a nation have much to be thankful for, and we are lucky in so many ways. My business is no different. In fact, any organization is only as good as the sum total of its parts, and those parts are their people. I like to believe that I remind Ray and Robbie how important they are to our operation on a regular basis. You, our customers, comprise the other part of this group, and I want to take this opportunity to thank each and every one of you for your loyalty, support and patronage. Without you, we could not be where we are today, a fact I never forget or take lightly.
To all, a Happy Fourth of July holiday and thank you from the bottom of my heart!
The Reeded Edge, Inc.