Reeded Edge Returning from a Surprisingly Active Long Beach Convention / Weather Impacts Weekend Schedule
We are in high gear here at The Reeded Edge, working 3,000 miles apart. Rob is currently walking the floor at the Long Beach Convention in Long Beach, California, searching for new inventory and current Want List items. Meanwhile, Robbie is hard at work in our Cumberland, MD office selling inventory and working on a few new collection purchases. Long Beach has been surprisingly active so far. Despite the strong downturn in the precious metals markets this week, rare coins have been in strong demand so far during the convention. We have conducted extensive business on both the buying and selling side. If you are planning on attending Long Beach and would like to meet personally with Rob to discuss buying or selling any collector coins, gold coins, silver coins, or any other items of interest, please do not hesitate to contact him on his cell phone at (240) 422-0118.
We have a number of exciting new Long Beach Purchases to share with you below. Some of these pieces are very scarce and difficult to locate. These coins are brand new, so please give Robbie a call on his cell phone at (301) 876-1332 for more information on these pieces. As always, please visit our New Purchases Page to view a complete list of all of our latest purchases. Thanks for looking!
New Purchase Highlights
- 1855 Upright 5s Large Cent PCGS MS-65 RB CAC - stunning and mostly red!
- 1864 C/N Indian Cent NGC MS-63 - PL surfaces with gem eye appeal!
- 1873 Closed 3 Indian Cent NGC MS-63 RB - 50% red, conservatively graded in an old NGC holder
- 1885 Liberty Nickel NGC MS-65 - SOLD
- 1913-S Type I Buffalo Nickel NGC MS-63 - premium quality coin, well struck!
- 1797 13 Stars Draped Bust Dime PCGS VF-20 - SOLD
- 1895-O Barber Dime PCGS VF-25 - original, deep grey...when do you find these??
- 1834 Capped Bust Quarter "O over F" PCGS AU-50 - SOLD
- 1899 Barber Quarter NGC MS-62 - gorgeous blue and violet toning!
- 1919-S Standing Liberty Quarter PCGS VF-30 - original medium grey surfaces & strong, full date
- 1921 Standing Liberty Quarter PCGS AU-53 CAC PQ! - original white & fully lustrous; looks AU-58
- 1797 Draped Bust Dollar 9x7 Small Letters PCGS XF-45 PQ! - well struck for type; off-white with luster in recessed areas; population of only 5 coins w/ only 4 pieces finer
- 1896-S Morgan Dollar PCGS MS-62 - white with flashy luster & better struck than most 96-S dollars
- 1897-O Morgan Dollar PCGS MS-62 - flashy & very, very close to MS-63 quality
- 1836 $2.5 Classic Head Gold, Script 8 PCGS AU-53 PQ! - SOLD
- 1836 $2.5 Classic Head Gold, Script 8 PCGS XF-40 PQ! - pleasing coin with strong details for grade
- 1855 $20 Liberty AU-55+ - nice, pleasing piece
- 1909/8 St. Gaudens $20 Gold PCGS MS-62 - Original BU & popular variety
- 1893 Isabella Quarter NGC MS-66 CAC Monster Toned! - SOLD
Weather Update
Due to the intense snowstorm heading toward the East coast, this weekend’s Alexandria Coin Show has been cancelled and tentatively rescheduled for March 13. Given the severity of the weather expected for the Mid Atlantic states, we agree with the show promoter that this is the correct decision.
The Reeded Edge Cumberland office is also expected to close early on Friday. We will remain open as long as possible, but will likely close at around the noon hour EST. Should you have any inquiries after that, or are looking to place any phone orders, please do not hesitate to call Robbie on his cell phone at (301) 876-1332. He will be working from home all afternoon
Gold & Silver Take a Pause as Dollar Strengthens; What is the Long Term Prognosis?
As expected, gold and silver have taken a pause. This is due to several factors. Chinese banks were required to raise their reserve ratio by 50 basis points, igniting fears that the country could curb lending. This has contributed greatly to the renewed strength of the U.S. Dollar, as dollar based commodities become more expensive to buy in other currencies. Since metals are one of many dollar-based commodities, the two have been predictably moving in inverse. Also weighing on investors' risk appetite are worries over Ben Bernanke's nomination approval as well as President Obama's so-called war on banks. Whether the Chinese actually restrict lending has yet to be seen. With the language coming out of Washington over the last couple of days, we're feeling increasingly comfortable with Benanke's nomination. Obama's ambitious anti-banking position also has to pass the congressional litmus test, a Congress still reeling from the recent health care defeat. Consequently, what we're presently witnessing is probably just a temporary correction. We see nothing wrong with the long-term fundamentals for both gold and silver.
Let's take pause for a second to discuss the reasons for investing in metals in the first place. Inflation worries tied to a runaway debt, unprecedented government spending and shaky monetary policy were all responsible for investors seeking the security of metals. Have any of these situations really changed? Our economy is barely treading water with a double dip recession equally as probable as a recovery. Unemployment is still at a staggering 10%. Washington's economic policies, including the stimulus plan, have done little to loosen up lending with the financial institutions. Legislation coming out of Congress has been largely anti-business, and with many new taxes on the horizon (including a disastrous cap and trade resolution), there is little hope that things are going to get better anytime soon. So, why then would investors find any long-term comfort in the dollar?
We feel that the party with gold and silver is a LONG way from being over. However, we also understand the fragile nature of both the markets in general and investor's psyche. When a stock, commodity, currency or any other investment medium goes through a bull cycle, the market tends to overreact in both directions. The sell-off in metals over the last week is a perfect example of just such an overreaction.
The midterm elections in November could change the landscape of Washington politically and redefine our economic policy. But, as we have learned, elections are never a certainty. Further, November is still nine months away. Until that time, the fundamentals that drove most investors to the gold and silver haven in the first place really haven't changed much. The real operative question is, if not gold and silver, then where else should you put your money? For the time being, that's a tough one to answer!
The Reeded Edge Returns from Wilmington, DE and Vienna, VA
Whether you were buying gold, selling gold, buying coins, selling coins or conducting any other related numismatic business, Delaware and Virginia were both numismatic hot spots. We started our extended weekend Thursday at the Wilmington Coin Show in New Castle, DE. Sponsored by The Wilmington Coin Club, this venue is exactly the stuff that coin club shows were built on. This show was well attended with plenty of grass roots collectors in attendance as well as several club-sanctioned activities. We noticed an uptick in activity from Thursday to Friday, which makes sense given the working class demographics of the area. Unfortunately, we did not get to stick around for Saturday at New Castle as we had to head south to Vienna, VA. The word from the dealers in Delaware was that Saturday was a barn burner. This was consistent with our observations from the previous year's show. All in all, Delaware was good to us, but more from the selling side. Buying coins, to put it mildly, was very challenging.
What can you say about Vienna? The second that we got set up, our tables were bustling with non-stop activity for two days. In its 40 year existence, this show seldom fails to perform. If we had a complaint about Vienna, as with The Wilmington Coin Show, buying was real tricky. If we are in the midst of a challenging coin market and supposedly an even more tenuous economy, you certainly couldn't tell from Vienna. Collectors were buying with an intense fervor, but were parting with few of their own things.
Despite the challenging buying climates of both shows, you will still notice several new items appearing on the store this week. Included is a group of better date dollars, some collector grade type coins and a cool group of exonumia. We are also working on buying several significant collections in the office this week, so we may wait and combine those items with our Vienna and Wilmington new purchases. Stay tuned, as there are some interesting new coins on the horizon.
Shipping Tracking Information is Now Available!
Its the new year and The Reeded Edge will be making some new features and enhancements available to you, our customers. Our webmaster, Ray Hunt has designed a new routine that will allow you to track any package shipped by FED-X, USPS Express Mail and USPS Registered Mail. When you receive your shipping notification, you will notice a click-able link that will open a page with all of your tracking information. Those of you who have My Reeded Edge accounts will also receive this information there.
Speaking of FED-X, you will notice that we are using them more and more often for parcels valued at $500.00 and over. FED-X provides efficient and secure shipping to many local and regional parts of the country less expensively than the U.S. Postal Service. For heavier Flat Rate packages, lower value packages and west coast shipments, the postal service is, more often than not, still less expensive to use.
With shipping rates constantly going up, we're really trying to look out for you and ship the most economical way possible, without of course, compromising your parcel's security. Your ideas and feedback in this area are always welcomed.
It was Cold Outside but the Activity at FUN was RED HOT!
Florida, like so much of the rest of the country, was frigid last week. If you were a citrus grower, the weather was nothing short of a nightmare. However, with the cold forcing people indoors, it ended up being great news for the numismatic community, and especially the Florida United Numismatists Convention.
The F.U.N. Show concluded on Sunday, living up to all of the advanced fanfare, hype and anticipation. Record crowds packed the Orange County Convention Center for the duration of the show. Any reservations about the welfare of the coin market quickly disappeared. Admittedly, the Bowers and Merena Rarities Sale prices were lukewarm, but this had more to do with content then market conditions. Heritage's Signature Sale was the real deal, proving that great coins still bring strong prices. Leading the way was the much heralded 1913 Liberty Nickel, Hawaii Five-O, Olsen-Farouk specimen that realized in excess of $3.7 million dollars (including the buyer's commission). With a total of over $53,000,000.00 sold, Heritage once again proved that the coin market is not only alive and well, but thriving.
Our experience of FUN was a microcosm of what the auctions demonstrated. Our table was bustling with activity, albeit on a smaller scale. Under $5000 collector coins were red hot with want lists coming at us left and right. Of course with the solid bullion markets, there was ongoing demand for anything yellow. Dated gold was surprisingly hot, as we began to notice a shift from the emphasis on purely generic coins. The prices on both proof American Gold Eagles and common date $20's softened just a bit, which created increased demand for both at the newer levels. Whether you were buying coins, selling coins, buying gold, selling gold or just along for the ride, FUN was definitely the place to be. In our opinion, this great show not only lived up to expectations, but once again, exceeded them.
We brought back a nice variety of new purchases from FUN which we will be featuring this week on the webstore. Below you will find a sampling of some of our highlights with more to follow.
Thanks, and stay tuned!
NEW FUN PURCHASES
- 1912 Barber Dime - PCGS PR-63 - White
- 1854 Seated Liberty Half Dollar NGC MS-62 - Lustrous white and PQ!
- 1890-CC Morgan Dollar, PCGS MS-61 PL - Off White
- 1921 Peace Dollar, PCGS MS-64 - White
- 1926 Peace Dollar, PCGS MS-65 - Blast White
- 1928 Peace Dollar, NGC MS-61 - Original off white with light patina
- 1895 Morgan Dollar PCGS PR-62 - The king!
The Reeded Edge Welcomes in the New Decade-Looking Forward to a Successful FUN Show!
We want to take this opportunity to wish everyone a Happy New Year. We hope that 2010 is a healthy and prosperous year for all.
Sunny Florida awaits! The quintessential FUN Show is right around the corner and there is quite of bit of initial optimism. Located at the sprawling Orange County Convention Center on International Drive in beautiful Orlando, this is a coin show like no other. Highly anticipated, tens of thousands of dealers and collectors alike will be migrating to the south to buy and sell coins for the better part of a week.
The Reeded Edge will be set up at Table #421 (our usual location) for FUN. The show will be open to the public from 10:00 AM - 7:00 PM Thursday January 7th, Friday January 8th and Saturday January 9th, and from 10:00 AM - 3:00 PM on Sunday January 10th. Whether you're buying coins, selling coins, buying gold, selling silver or just want to stop by and say hello, Rob Lehmann will be there to welcome you. Rob can also be reached anytime during the show on his cell phone @ 240-422-0118. Robbie Jenkins will be manning the home office and may be reached at 301-724-0400 or on his cell phone at 301-876-1332 for immediate assistance.
In addition to F.U.N., Robbie will be heading to New Market, MD for the Frederick Coin Club Show on Friday January 8th and Saturday January 9th. The show is located at the Grange Hall in downtown New Market (just east of Frederick, MD) and is open to the public from 9:30 AM - 5:00 PM both days.
Presently, gold and silver are on another run, a result of a weaker dollar. Our annual End-of-Year sale generated record results with more coins sold than any time in history. In Washington, the present administration's stronghold seems to be loosening, as polls point towards a change in the power base. Let's hope that the mid-term elections usher in the real change that our economy so desperately needs and not just the rhetoric of the 2008 election. Overall, we think that 2010 will offer much to look forward to and we do remain positive.
Once again, we want to thank each and every one of you for helping us translate the many challenges of 2009 into a successful year. Happy 2010!!
Take Advantage of the Bull Market-Sell Gold and Sell Silver to The Reeded Edge For TOP Dollar!
Are you thinking that the present bull market is a good time for selling gold coins or selling silver coins? Good news-The Reeded Edge has really stepped up our campaign to buy silver and gold. Whether you have a one ounce gold eagle or an entire bag of silver, we would love the opportunity to earn your business. Please offer us any or all bullion-related coins. Presently, our customers have a tremendous appetite for precious metals. Whether you're selling silver or selling gold, any help that you can give us in these areas, would be greatly appreciated!
2009 in Retrospect
We would like to wish each of you a Merry Christmas, Happy Chanukah and a safe and prosperous New Year. 2009 really has been quite a year! In retrospect, we have much to be thankful for. This year saw many challenges at home and abroad. A new administration ushered in a secular progressive mind set that had the financial markets on shaky ground. Combine this with the worst recession since the great depression, the health care debacle, and over 10% unemployment; the general mood here at home has been unsettling. Overseas, our brave young men and women risk their lives daily to defend our liberties and freedom, fighting the continuing war on terror. While most of us either sit at home or in our offices, going about our daily lives, there are many others who don’t share the same luxury. Relatively speaking, we have had it easy.
Bullion has been thriving on all of this uncertainty, and for us, has been the conduit for a banner year. With gold eclipsing the $1,200.00 mark, we have entered a territory that historically is unprecedented. Yes, precious metals boomed in 2009, with the coin and collectibles markets following somewhat behind in the shadows. We expect to see a resurgence of the coin market as it plays an important catch-up role to bullion.
2010 should prove to be an interesting year. Obviously, there are still compelling reasons for concern. First, our politicians in Washington need to rein in spending. Secondly, our national debt is completely out of control. The interest alone is mind numbing. Until we begin to reverse these trends, our dollar remains in jeopardy and precious metals will continue to prosper, but for the wrong reasons. We feel fairly confident that gold, silver, rare coins and collectibles should all have a healthy year, either because the current trends reverse themselves or we maintain the status quo. In other words, if the economy continues to slide, the coin and bullion markets could prosper. Or, if we begin to move towards an economic recovery, the coin market could prosper while bullion would probably stabilize. Either scenario, from our standpoint, is not bad. Obviously, a healthy economy is best for all of us, and ideally, what we hope to see.
The Reeded Edge Returns From Annandale, VA-Final Show of 2009; Happy Holidays to All!
The Annandale Coin Show proved to be a glaring success, ending the 2009 show season on a high note. As expected, the show was well attended by collectors, many of whom sought numismatic coins in lieu of bullion. This was a pleasant departure from many of the recent shows. We noticed a real uptick in inexpensive collector coins, especially those priced under $1000.00. But, we also observed a renewed strength in the really rare material, which we think will carry over into next year's highly anticipated FUN show. Overall, there were about 60 tables at the Annandale bourse with many smaller regional dealers in attendance. There was also a contingent of national dealers who showed up to walk the floor and conduct their business from a briefcase. These higher profile dealers are usually a good barometer of a show's success, and the preliminary reports from them were very favorable. Whether you were buying coins, selling coins, buying gold, buying silver, selling gold or selling silver, there really was something for everyone at this eclectic venue. We brought our usual array of coins and collectibles, and sold a little bit of everything. As is usually the case, we were equally as busy buying, seeking out great collector material for our web store. Realizing that this was our last buying opportunity of the year, we probably went a little bit overboard, a fact of which will become apparent once you peruse our new purchases.
We want to take pause and wish everybody a Merry Christmas, Happy Chanukah and Happy New Year. It is sometimes easy to get so caught up in what we do, that we lose focus over what the holiday season really represents. This year did pose its challenges. But, we started it and ended it on a high note. For that, we are humbled and thankful. We hope that each and every one of you have a wonderful holiday season and a safe and happy New Year.
Houston and Allentown Coin Shows Review
To continue singing accolades for show after show may sound like a redundant sales pitch. It probably appears that we at The Reeded Edge are the eternal optimists. How can the rare coins and collectibles market continue to survive in the midst of the one of the worst recessions in modern history? The answer lies in the current unprecedented interest in precious metals. Whether you're a serious collector sniffing opportunity, an investor with a vision or a numismatist turned metals bug, this market continues to offer a reason for almost anyone to be involved.
Nowhere was this more apparent than in Houston, Texas. Houston is a bit of an aberration. The oil companies are one of the city's biggest employers. They also happen to be making record profits. Consequently, employment is more flush here than in many other areas of the country. More good paying jobs also equates to more disposable income. So, the potential for a good show is definitely in the stars in Houston.
The other side of the coin (no pun intended) is that the middle and upper class income earners in Houston tend to lean conservative. We heard many comments about the current administration's monetary policy, hedging against inflation and a possible weakening dollar. Everybody had their own reasons for what to own and why to own it.
From our perspective, this was the tale of two shows. Thursday was robust, due in a large part to another record day in the gold market. Unfortunately, Friday gave all of those gains back and then some. Combine this with a Winter storm warning and snow (Yes, it really snowed in Houston!), and Friday was sluggish. Saturday saw a steady stream of collectors come through the doors and we were busy for much of the day.
All told, The Houston Money Show of the Southwest continues to be one of Texas's top numismatic venues, and this year was no exception!
Allentown, PA was hit with the same inclement weather that passed through Houston a day earlier. Much the same as Friday at Houston, circumstances at The Allentown Coin Show were less than ideal. Half a foot of snow and a $50.00 drop in gold spot did little to boost collectors' enthusiasm. Despite these factors, Robbie still had an active show, although our average purchase was noticeably smaller than what we are accustomed to. Less expensive collector coins were the flavor of the hour and we sold quite a few of them. Robbie also bought some nice collector material, which alongside our Houston new purchases will be featured below. We're pretty excited with both the quantity and quality of our new purchases. We hope that you share in our enthusiasm!
The Reeded Edge will Reward you for your Referral!
Do you know somebody selling coins? Please think of referring them to The Reeded Edge. Not only will we tender them an extremely competitive offer for their coins for sale, but we'll send a finder's fee your way as a token of our appreciation. Rare coins are a word-of-mouth business, and we realize that your endorsement of our company is what keeps us in business. When it comes time to sell coin collections, we want you to think of The Reeded Edge. Please call Robbie Jenkins either in the office @ 301-724-0400 or on his cell phone @ 301-876-1332 to discuss this option further.
Name Your Price! From The Reeded Edge
Fall is upon us and the coin and collectibles markets are in the midst of a predictable pause. With the economy on our minds, or at the very least, constantly in the news, it seems that value has become the word of the day. Whether you’re a collector on a budget or an investor seeking opportunity, price seems to be the common denominator. Generally speaking, if the price is right, the item probably will sell. With that thought in mind, The Reeded Edge is introducing our new Name Your Price! program.
Name Your Price! allows you to make an offer for any item in inventory with a suggested retail price of at least $50.00. If you like saving money (and right now, who doesn’t?), this opportunity is definitely for you. Does the idea of purchasing a particular coin or collectible for what you believe it should be worth appeal to you? Then, put your best foot forward, because this is your chance to name your price on a wide variety of coins and collectibles.
In the last week, we sold an uncirculated 1901 Morgan Dollar and a RARE dated $20.00 gold coin, both at prices well below our suggested retails simply because each customer tendered an acceptable offer. Now it’s your turn!
By clicking HERE, you will open up our current coin and collectibles inventory list. Each and every listing is clickable and will take you to a detailed item description along with corresponding images. If you like what you see, return to the master list and click on the Name Your Price! button to the right of the item’s listing. This will open up a fill-in-the-blank email template where you can enter both your offer and your contact information. Once your offer is received in our office, we will make a decision within one business day, and in many instances, in just a few minutes. It really is that simple.
Every offer is seriously considered and weighed carefully. We evaluate many different factors including our original cost, what comparable items have recently sold for, frequency of the item’s appearance, rarity, desirability and overall quality. We then carefully consider your offer against each of these areas and try to make a fair decision.
We understand that opinions of value can vary. Consequently, not all offers will be accepted. But, if your offer is close, we’ll let you know, and in some instances, may come back with a counter-offer. Again, it doesn’t matter if you’re a collector, an investor or even a dealer buying for resale. We encourage you to take your shot and make an offer-You have absolutely nothing to lose!
Punchboard Prizes now Awarded Instantaneously!
Over the years, The Reeded Edge Punchboard has become one of our customer’s favorite perks. This is the webstore feature where you can win valuable prizes simply by placing a minimum order of $200.00. Previously, punchboard prizes were redeemed only on future orders. But now, that all has changed. All punchboard prizes (with the exception of discount coupons and gift certificates) will now be redeemed instantly without any wait or future orders required. Hopefully, this feature will make for a more pleasant Reeded Edge shopping experience.
Dealer Julian Leidman's Coins Recovered!
Every now and then a bad story has a happy ending. Last month, dealer and long-time friend-of-the-hobby Julian Leidman was robbed of numerous rare coins in New Jersey while returning from the Coinfest show in Stamford, Connecticut. Initial reports valued the missing coins at over one million dollars. The dealer community collectively offered a $125,000.00 reward for the apprehension and arrest of the individual(s) responsible for the theft. Although we have not heard anything about either the apprehension or arrest of the culprits, we have heard preliminary reports that most, if not all, of Leidmann's coins have been recovered. This is good news indeed! Hats off to all of the law enforcement agencies and numismatic organizations that banded together to help solve this heinous crime. As more specific details become available, we will continue to post them on our home page. For more detailed information about both the theft and recovery, Julian Leidman may be contacted at 301-585-8467.
The Reeded Edge Featured in the Hagerstown Newspaper, The Herald-Mail
The Herald Mail was on site at The Best Western Hotel to review the Interstate Coin Show on Saturday September 4, 2009. Their write-up titled Show me the Money appeared in the September 5, 2009 edition in the Maryland section. An extensive interview with Robert Lehmann, president of The Reeded Edge, was featured in the article. To review a copy of the article, please click HERE.
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