Coin Market Slows as Beautiful Spring Weather Blankets the East Coast
Coastal Carolina Buying Trip on the Horizon
May 26, 2015 - The weather has turned beautiful (finally) here in the mid-Atlantic, and the coin market has accordingly slowed. It is not the snail's pace that we would have expected given how starved for nice weather this region has been. The underlying strength in the collector segment of the coin market has been keeping things afloat. Fortunately, this area has endured several market corrections, a dealer cash flow shortage and an overall weakness in generic certified coins. We don't anticipate this landscape to change, as there really is a shortage of good collector material, especially so at the $200-$5000 all-inclusive price points. This selective demand is noticeable in all areas of the marketplace, including shows, web activity, eBay and auctions. As alluded to earlier, the collector strength is underlying, as most dealers have reported slower sales. But, weather-related slowdowns are cyclical and normal for this time of year, so this aspect of the market is not overly concerning.
This week, Rob will be taking his annual pilgrimage to Coastal North Carolina, canvassing coin shops and meeting collectors along the way. If you are between the Tidewater area and the Outer Banks and have any worthwhile numismatic material that you are considering selling, please give Rob a call on his cell phone @ 240-422-0118. He will be available on a by appointment only basis throughout the week. Last year was a great trip for The Reeded Edge as we bought a complete uncirculated Washington Quarter set amongst numerous other coins. Although it will be a challenge to one-up 2014, we remain optimistic that this important area of the country will yield some new treasures.
Although cheaper bullion prices have lead to increased demand for gold and silver, numismatic sales still dominate our business. Again, this activity is occurring mostly in the mainstream areas of the numismatic arena. Rare material is a different story. This sector has become more selective, and decisions involving purchases of coins $5000.00 and over seem to be, almost without exception, calculated and measured. The market overall remains on solid footing, especially the collector segment. But as we continually have stressed, it is still very price-sensitive. The dealers who miss this aspect are choking.
We recently purchased a sizable foreign coin collection comprised of thousands of fresh coins that have been off of the market for a minimum of 10 years, and some, for as long as 50 years. Most of this collection was procured in the 1970's and 1980's. A busy coin show schedule has limited our ability to filter these coins onto the store, but with the next three consecutive weeks in the home office, that situation is about to change. Please visit our New Store Items to view these coins in their entirety. Please Note: We will be adding a New Foreign Coins subcategory this week to simplify isolating these new coins
The Reeded Edge remains serious about doing two-way business. Whether you're buying rare coins, selling rare coins, buying or selling gold or silver, or perhaps in the market for vintage toys or collectibles, few rare coin and collectibles firms have a greater presence in the marketplace than The Reeded Edge. Our open checkbook policy means that we want to buy anything from a valuable single item to an entire estate or collection. No deal is EVER too large, and we hate to say no. At The Reeded Edge, we really want to be your go-to rare coin dealer.
Please feel free to call our offices during normal business hours @ 301-724-0400, Robbie's cell after-hours @ 301-876-1332 or Rob's cell after-hours @ 240-422-0118 to discuss any matter of business or just tell us how we're doing. And of course, stay tuned for more great coins, along with further details of upcoming coin shows.
Highlight New Purchases
- 1804 Draped Bust Half Cent, PCGS AU-55 - Smooth medium-brown surfaces.
- 1853 Half Cent, PCGS MS-65 BN, CAC Approved - Outstanding luster with rich brown-blue overtones.
- 1854 Half Cent, PCGS MS-64 BN - Lovely choice example with hints of red.
- 1823/2 Large Cent, PCGS VF-20 - Perfect brown color; original!
- 1849 Large Cent, PCGS MS-63 BN, CAC Approved - Brown with hints of red clinging to the devices. Slightly better late-date Large Cent.
- 1871 Indian Cent, PCGS MS-63 RB - Mellow surfaces with ample RED popping through, especially on the reverse.
- 1918-S Lincoln Cent, PCGS MS-64 RB - Very pretty spot-free example with even, pretty color.
- 1927-D Lincoln Cent, PCGS MS-65 RB - Very choice with ample red.
- 1888 3CN, NGC MS-67, Old Fatty Holder, CAC Approved - Screaming white, mark-free and unimprovable!
- 1851-O 3CS, PCGS MS-65, CAC Approved - Beautiful, original coin with a splash of blue toning.
- 1859 3CS, PCGS MS-64 - Steely-grey and original with darker coloration at the periphery.
- 1921 Buffalo Nickel, PCGS MS-65 - Very bright luster!
- 1939 Jefferson Nickel, Double Die Reverse, PCGS MS-65+, CAC Approved - a blazing white headlight!
- 1831 Capped Bust Dime, PCGS AU-58 - Soft white, and essentially untoned.
- 1838 Liberty Seated Dime, Partial Drapery, PCGS MS-64 - Beautiful toning atop of choice, mark-free surfaces; RARE variety in high grade.
- 1839-O Liberty Seated Dime, No Drapery, PCGS MS-65+, CAC Approved - Original surfaces with underlying rich, satiny luster. Wholesome and extremely attractive GEM example; RARE this nice!
- 1875-CC Liberty Seated Dime, Mintmark Below, PCGS MS-63, CAC Approved - Rich, original luster with interspersed gold toning.
- 1877-CC Liberty Seated Dime, PCGS MS-64, CAC Approved - Satiny white luster and basically untoned.
- 1916-D Mercury Dime, PCGS VF-20 - An original wholesome example; PERFECT for the assigned grade.
- 1916-S Mercury Dime, PCGS MS-67+, CAC Approved - Top pop, the one and only 67+ graded, and it's downright beautiful!
- 1918-S Mercury Dime, PCGS MS-65 - Blast white example of this better date.
- 1925-S Mercury Dime, PCGS MS-63 FB, CAC Approved - Strong luster with deeper gold highlights.
- 1876 Twenty Cent Piece, NGC MS-61 - Pretty original toning and very high-end for the assigned grade.
- 1831 Capped Bust Quarter, Large Letters, PCGS MS-60 - Lustrous white with outstanding luster; Looks MS-62!
- 1876-S Liberty Seated Quarter, PCGS MS-64 - A wholesome, lightly toned example of this centennial year quarter.
- 1878-CC Liberty Seated Quarter, PCGS AU-58 - Original off-white with a hint of gold.
- 1918-S Standing Liberty Quarter, PCGS MS-64, CAC Approved - Blazing white and PERFECT for the assigned grade.
- 1920-S Standing Liberty Quarter, PCGS MS-64 - Subdued original luster with some gold highlights.
- 1806 Draped Bust Half Dollar, Knob 6, Small Stars, PCGS XF-40 - Pleasing medium-grey original example.
- 1807 Draped Bust Half Dollar, PCGS VF-35 - Original with some pretty toning, most notably on the reverse.
- 1917-S Walking Liberty Half Dollar, PCGS AU-58 - White and untoned example.
- 1918-S Walking Liberty Half Dollar, PCGS AU-55, CAC Approved - Satiny white and nearly uncirculated.
- 1923-S Walking Liberty Half Dollar, PCGS AU-58, CAC Approved - White, untoned and well struck for the issue. A very tough and underrated date in this grade.
- 1929-S Walking Liberty Half Dollar, PCGS MS-62 - Lustrous, original white with gold highlights.
- 1943-S Walking Liberty Half Dollar, PCGS MS-66+, CAC Approved - Original white with really pristine surfaces.
- 1801 Draped Bust Dollar, PCGS XF-40 - Lustrous highlights with an old gold patina and a total absence of adjustment marks; really problem-free.
- 1872 Liberty Seated Dollar, PCGS AU-50, OGH - Satiny white with much original luster remaining.
- 1885-CC Morgan Dollar, PCGS MS-62 DMPL - Strong watery mirrors with areas of tan toning.
- 1885-CC Morgan Dollar, PCGS MS-66 - Rich white luster with lightly frosted devices.
- 1887/6-O Morgan Dollar, PCGS MS-63 - Original white with nice luster.
- 1894-S Morgan Dollar, NGC MS-62, CAC Approved - Original off-white with mottled gold toning.
- 1897-O Morgan Dollar, PCGS MS-63 - Satiny white with an absence of major contact marks.
- 1901 Morgan Dollar, PCGS AU-58, PQ! - A mint state coin (despite the assigned grade) with an abundance of small contact marks on the obverse, and typical soft white luster.
- 1921 Peace Dollar, NGC MS-64, CAC Approved - Satiny white and virtually GEM quality save for a little central weakness in strike.
- 1923 Peace Dollar, PCGS MS-66+, CAC Approved - Blast white and virtually perfect. This is what all Peace Dollars should look like!
- 1926-D Peace Dollar, PCGS MS-66, CAC Approved - A screaming, blast-white coin. This is what all Peace Dollars SHOULD look like!
- 1928 Peace Dollar, PCGS MS-64 - White, well struck and mark-free.
- 1839-C $2.50 Classic Head Gold, ANACS EF-40, Small White Holder - Pale gold coloration with all of the dramatic die cracks that this issue is known for; the purported 1839/8 overdate variety.
- 1836 $5.00 Classic Head Gold, PCGS VF-25, OGH, CAC Approved - Old orange-gold coloration clings to devices and peripheries.
- 1852-D $5.00 Liberty Gold, PCGS VF-35, CAC Approved - Original and virtually XF.
- 1914 $5.00 Indian Gold, PCGS MS-63, CAC Approved - Nice luster and originality; Wholesome!
- 1914-D $5.00 Indian Gold, PCGS MS-63 - Rich satiny luster with no major marks; underrated date.
- 1908-D $10.00 Indian Gold, PCGS MS-61 - Original with a Euro-look.
- 1858-S $20.00 Liberty Gold, PCGS AU-58 - Lustrous and very nearly uncirculated.
- 1860 $20.00 Liberty Gold, PCGS AU-55, CAC Approved - Even, light gold surfaces with no visual distractions; nice for the assigned grade.
- 1904 $20.00 Liberty Gold, NGC MS-65 - Nice luster and an absence of marks make this GEM example attractive.
- 1907 $20.00 Liberty Gold, PCGS MS-64+ - A sparkling near-GEM example that is downright RARE any finer.
- 1926 $20.00 St. Gaudens Gold, NGC MS-66 - Although common in lower grades, this is a better date in MS-66. Soft luster with nice originality and an absence of marks. One spot on the obverse and a couple more on the reverse are mentioned for accuracy.
- 1946 Iowa Half Dollar, PCGS MS-68, CAC Approved - Monster color with an unimprovable "look"!
- 1870 Standard Half Dollar, J-958, PCGS PR-66, CAC Approved - Beautiful peripheral toning and original GEM surfaces.
A FUN Experience
By Miguel Lopez
The Reeded Edge Launches our 4th Annual Toys for Kids Day with The Salvation Army
December 11, 2014 - This has been a successful year for our company. All of the hard work, both here in the office and on the road, paid dividends with record sales figures. But, it is sometimes easy to get caught up in these personal successes, and forget that there are many amongst us that are far less fortunate. The holidays provide us with the opportunity to give a little something back. The Reeded Edge, once again this year, teamed up with The Salvation Army to sponsor our annual Christmas toy drive. Today's event allowed us to play Santa, handing out wrapped toys to over 40 local grade-school children. The looks on their faces said it all! Perhaps, some of you reading this will be able to help somebody less fortunate this holiday season, as well; from our standpoint, there is no greater reward.
Merry Christmas and Happy New Year to all!
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.
Chicago ANA Extremely Active - Record Number of Invoices Written Over a 10 Day Period
August 12, 2014 - We expected an active week of trading when we left for Chicago nearly two weeks ago. After all, this was The ANA's World's Fair of Money, or in coin show terms, The Big Kahuna. Both preparations and expectations were accelerated for this venue. It is not every show that our bourse area stretched over six tables and was staffed by four people. But then, the ANA was not every show.
From the moment we arrived in the Chicago suburb of Rosemont on Thursday, July 31st, it was evident that the mood of our fellow dealers was both optimistic and upbeat. The summer doldrums were gone as brisk trading ensued. Rob, Robbie and Miguel were slammed from the onset of the PNG pre-show straight through the last day of the main event. Were it not for the additional help of our friend and close associate Arnold Minimen, some of our customers would have gone unattended; It really was that busy! There was absolutely no rest for The Reeded Edge's guys; Between working up new purchases, processing orders, shipping coins and waiting on customers, 12+ hour days were the norm rather than the exception.
Needless to say, after 10 solid days of buying and selling rare coins and collectibles, our inventory has gone through a dramatic shift. Many coins that were featured on our web store, Collector's Corner and eBay were sold, replaced by a new and exciting crop of collector coins. In all, The Reeded Edge did nearly a million dollars of total business. Consequently, you can expect to see many new coins appearing on the store throughout this week.
As for Rob and Robbie, they are going to enjoy a well-needed break with the upcoming weekend spent on the home front. Then, it will be back to the road for a host of late-summer and fall shows. One of the many things that we will be addressing in the next week will be an updated show schedule, so stay tuned.
Finally, we would like to extend a great big thank you to all of our customers and fellow dealers that made this 2014 ANA venue such a success. We were humbled by all of the support and kind words that we received throughout the week. Although this aspect can not be measured in shear numbers, it nonetheless keeps us going and it's what makes this business so worthwhile.
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.
Selling your Coins Online
Selling coins online has been a hot topic lately. There are many coin dealers in cyberspace, various regional phone books, and perhaps even in your home town. So, who do you choose when you have rare coins for sale? This is a complex question with no easy answer, but there are some rules that you absolutely should employ when making this important decision. Perhaps most importantly, who is your prospective dealer and what is his/her credentials? Trade associations, full transparency and strong financial references are all important criteria when making this decision. Look for membership in organizations like the American Numismatic Association (ANA) and the Industry Council for Tangible Assets (ICTA) to name two of the more important trade groups. Everybody who is anybody in the coin business (or any other business for that matter) has a strong web presence in today's day and age. Look for a well developed webstore with an extensive inventory and longevity. All are very important indicators of financial strength and stability. Go to the store's About Me page, and look for additional information on the company and their principals. If this information is hidden or cryptic, you have to ask yourself why. Finally arm yourself with resources. Although there is a LOT of great information online, getting it in a consolidated and concise, usable format can prove very challenging. Here is where a couple of great, time-tested books can be invaluable to you. The Guide Book of United States Coins, or Redbook has been the hobby's standard retail pricing guide since 1947. It is used today as much as ever by collectors around the world. But perhaps your most important single aid in helping you sell your coins for true wholesale prices is The Handbook of United States Coins or Bluebook. Neither of these publications will appear free on a Google search, although both offer online versions for sale.
Whether you are selling gold, silver, rare coins or any other collectible online, you owe it to yourself to do your due diligence. Rare coin dealers are not all the same. Applying some fundamental rules and good common sense to your selling decision can make the experience both pleasant and profitable. Why would you want it any other way?
July 5th, 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.