The Reeded Edge, Inc serving the serious collector & investor since 1991

 

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1798 $5.00 DRAPED BUST GOLD, PCGS AU-53
1934 $5000 AND 1934 $10000, RARE CERTIFIED PAIR
1787 FUGIO CENT, STATES UNTIED, CINQ, PCGS MS-64 RB
1852-O $20.00 LIBERTY GOLD TY 1, PCGS AU-58
1900 MORGAN DOLLAR, PCGS PR-64
1861 $3.00 GOLD, PCGS AU-58
1874 $20.00 LIBERTY GOLD, PCGS MS-61
1861-S $20.00 LIBERTY GOLD, PCGS AU-55, CAC APPROVED
1896-S MORGAN DOLLAR, PCGS MS-64
1838-O LIBERTY SEATED DIME, PCGS MS-62
1847 $2.50 LIBERTY GOLD, BASS, NGC MS-60

Sluggish ANA Show Had Weird Vibe

Poor Attendance, Slow Grading & Other Challenges Plague Annual World's Fair of Money


August 7, 2017- Well, it has been an interesting week here in Denver, to say the least. The American Numismatic Association's World's Fair of Money is always THE anticipated numismatic event of the year. So needless to say, we arrived in the Mile High City with high expectations. Sunday's pre-show hotel trading was disjointed, spread-out and generally, lacked energy. Despite these factors, we still managed to tally decent sales, albeit with fewer dealers than we're accustomed to seeing at this type of event. Monday's PNG Day was a continuum of low energy coin trading, the difference being that at least dealers now had a centralized location. Despite this less than stellar start to the biggest coin show of the year, we remained optimistic that the main event would deliver. Unfortunately, that just never happened. Tuesday started the show with a mediocre attendance but a general lackluster feel on the bourse floor. Although we both bought and sold coins continually throughout the day, the usual ANA buzz was mysteriously absent. Wednesday was a bit slower with less attendees and too many dealers sitting on their hands. Thursday may have been the best day of the show with a slight. resurgence in activity and better attendance than the previous 2 days. From there, things got progressively worse. Friday and Saturday presented several different challenges, none of which boded well for the coin show. Most obvious, the attendance dropped off. To make matters worse, PCGS's on-site grading came to a virtual halt, as they opted to grade modern mint products, pushing their show submissions to the back burner. This really put a damper on a show that was already struggling for buoyancy. To make matters even more challenging, grading at the show was noticeably tight. As wholesale trading came to a virtual halt, enthusiasm at the show diminished. By Saturday, the feeling was that this event was done, and we, like most others in attendance, just wanted to get home.

In retrospect, this was not a horrible ANA; we bought and sold quite a few coins, and overall, the show was profitable. However, alluding back to our expectations, this show fell well short. A friend and good associate of ours put it aptly when asked the question, "Do you believe this show was a by-product of location or market conditions?", to which he replied, "Both". 

So, what are our impressions of the coin market moving forward post-ANA? We still feel that the wholesale side of the market is fragile and lacking solid footing, but the retail side is much more stabile. We also believe that with so much of our hobby moving to online trading, coin shows are progressively more challenged. In short, locations like Denver which tend to be somewhat isolated, are less attractive than concentrated urban centers like Baltimore, Chicago and Philadelphia. We are not hitting the panic button yet, but strongly suggest that the ANA take a hard-long look at where to hold future venues. We would further suggest to PCGS that if they elect to on-site grade newly-released, U.S. Mint products in conjunction with a future ANA show, that they either bring a dedicated team of graders to the show for that purpose, or express these type of submissions back to their home office for grading. By backing up their bread and butter submissions, PCGS really interrupted the flow of business created by fresh product entering the marketplace, a scenario we hope does not repeat at future ANA shows.

We were far from lazy or complacent at the ANA, a fact supported by the hundreds of new coins throughout The Reeded Edge web store, Collector's Corner and eBay. We also have quite a bit of fresh grading back from PCGS, a much more exciting prospect than peddling auction re-treads or stale dealer inventory. Despite show and/or market conditions, we really are committed to the principle of providing our customers with fresh, interesting collector coins.

On a positive note, the ANA did provide us an opportunity to meet some of our customers for the first time, and reestablish relationships with many of our older friends. The coin show circuit is an extended family of sorts, and the ANA forum serves as a reunion. This part of the show is always invaluable to us, and this year in Denver was no exception. We appreciated the kind words that many of you had for us, and we assure you, the feeling was mutual!

New ANA Coin Purchases from Denver


Highlight New Purchases

(Featured Coins & Currency Added to Inventory Within the Last 30 Days - as of August 9, 2017)

 

We do NOT protect the guilty!

July 26, 2017 - This goes out to the few of you that think it's OK to abscond with our coins, money or both. NEWS FLASH - This is called stealing, and will not be tolerated. We want to let our position on this type of activity be known. First, we will prosecute you to the full extent of the law. Second, we will NOT protect your identity. We believe that if you steal from us, you will probably also steal from one of our fellow dealers (or worse yet, one of our customers). A thief is a thief!

Individual #1 - Edwin Allen Owen; aka "Doc" Owen (to the best of our knowledge, not an actual doctor), DOB: 11/04/1953, SSN: 556-70-2774; currently living with his brother, Marty, at 8740 Tuscany Ave. Apt 210, Playa Del Ray, CA 90293-8655. We currently have judgments against Owen in Maryland, Arizona and California. Owen owes us approximately $50,000.00 for an 1815/2 Half Dollar, NGC MS-64 and a 1900 Morgan Dollar, NGC PR-66 CAMEO *, both of which he absconded with in 2011 and never paid for.

Individual #2 - Matthew G. Rhodes, DOB: May 13, 1967; currently residing at 24118 Woodway Terrace, Beachwood, OH 44122 w/ a mailing address of 1284 SOM Center Rd. Box 163, Cleveland, OH 44124. Rhodes absconded with an 1859-O Liberty Seated Dollar, PCGS MS-61 valued at approximately $1800.00 on November 21, 2016. Rhodes was previously expelled from The American Philatelic Society for failure to return or pay for stamps valued in excess of $28,000.00. We recently won an ANA mediation case against Rhodes, who has now been put in a position to either pay for or return our coin, or face expulsion from the association. Based upon the favorable decsion from the ANA, our next step will be to seek criminal prosecution for felony theft, if Rhodes does not otherwise comply with the ANA's directive.

Our Thoughts on Reselling Auction Coins

  

April 13, 2017 - We wanted to take a moment to discuss a very important part of our business plan. In the coin business, we are judged by our peers in a number of different areas including the diversity and scope of our inventory, our expertise in the field of numismatics, and perhaps most importantly our integrity and honesty. For these reasons and others, we have made the commitment to never knowingly re-sell coins sourced from public auctions. There are some very important reasons for this, all inter-related to the above referenced public perception. For starts, we like to believe that our 30+ years in business has established a foundation, or as we prefer to call it, a feeder network, a nucleus of fellow numismatists who have become our supply chain. These proprietary sources are the result of hard work and dedication in forging lasting relationships. In our estimations, our customers are not only paying us for our coins but also our knowledge and insight. It is hard for us to justify merely acting as an agent, farming coins from auction and moving them to a retail environment. Everybody has access to numismatic auctions. They are online and well exposed. If you have a smart phone, tablet or computer these days, you have a direct path to the auction venue. Consequently, almost anybody and everybody has the ability to purchase coins from auction if they so desire. There is nothing exclusive about it, and more importantly, the role of a professional numismatist in the process is often not necessary. Sure, sourcing coins from private parties is a far greater challenge. But, when it is time to sell your coins, which scenario would you rather have: a collection of coins fresh out of the woodwork, or coins which have auction history with associated published prices realized and a ceiling to what they potentially could be worth? Again, when you purchase a coin from The Reeded Edge, you are purchasing more than just the coin. Along with it, comes the peace of mind that your acquisition is fresh to the market, and more than likely resurrected from a collector much like yourself. Fortunately, there are still enough coins in private hands to make this a viable approach for us. We know that there are some collectors, and even more dealers, that take exception to this approach; but it has worked for us and allowed us to garner a loyal and growing customer base. We think it works for them, as well!

Discount Coupons on the Webstore

 

April 13, 2017 - Recently, The Reeded Edge suspended the use of 10% off coupons in lieu of a system of net pricing. Through the feedback of our customers, we found that most people preferred  discounts to be everyday rather than exclusionary. Consequently, we lowered prices throughout the store and did away with the coupons. We did not anticipate the fallout from the customers still holding 10% coupons which were no longer valid. As a compromise, we will continue to honor these coupons and apply a 5% discount rather than no discount at all. Simply enter your existing code at checkout and your discount should apply. The net result is that you will be buying coins cheaper than ever. The Reeded Edge has always prided ourselves on offering great coins at fair prices. Our new pricing structure should definitely reinforce this concept. PLEASE NOTE: If you have any problems applying discount coupons, either call our office @ 301-724-0400 and talk to our IT Manager, Ray Hunt, or e-mail Ray directly, ray@reedededge.com.

 

Important News for all of our Customers Who Sell on eBay

Feb 28, 2017 - eBay sent a notification to all sellers today of a fee increase effective May 1, 2017. This is a significant increase amounting to almost 10% for top-rated sellers, and approximately 4% for all others. In addition, coins and currency which are presently charged a 6% final value fee for fixed-price listings, will increase to a 6.15% final value fee. To get a complete explanation of these additional fees and increases, please click HERE. We urge everyone who sells on eBay to voice their displeasure at these increases. The more people that CALL or write in to eBay, the more apt eBay may be to change this new policy. We can not over-emphasize how important it is for your voice to be heard!


The Reeded Edge Launches our 6th Annual Toys for Kids Christmas Celebration with The Salvation Army

 

December 12, 2016 - 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. Six 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 50 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.



Longevity

Reprinted from July 5, 2014 (and we believe, it still holds true today) - 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!

Rob Lehmann
President,
The Reeded Edge, Inc.

 

 

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