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

 

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1885 LIBERTY NICKEL, PCGS PR-66, OGH, CAC
1934 $5000 AND 1934 $10000, RARE CERTIFIED PAIR
1937-D BUFFALO NICKEL, THREE LEGS, NGC MS-64
1893-CC MORGAN DOLLAR, PCGS MS-63
1874-CC $20.00 LIBERTY GOLD, NGC AU-58
1852-O $20.00 LIBERTY GOLD TY 1, PCGS AU-58
1914-D LINCOLN CENT, PCGS MS-64 RD
1922-D LINCOLN CENT, NO D, STRONG REVERSE, PCGS AU-55
1900 MORGAN DOLLAR, PCGS PR-64
1863-S $20.00 LIBERTY GOLD, NGC AU-58, CAC
1874 $20.00 LIBERTY GOLD, PCGS MS-61
1951 BTW COMMEMORATIVE HALF DOLLAR, PCGS MS-67
1889-CC $20.00 LIBERTY GOLD, NGC MS-60
1838-O LIBERTY SEATED DIME, PCGS MS-62
1871 $1.00 GOLD, TY III, PCGS MS-67

Office Business Steady

Coin Market Ebbs & Flows During Tumultuous Period


October 10, 2017- The last week has been anything but uneventful. The horrific shootings in Las Vegas certainly captured the nation's attention and collective hearts, a  third major hurricane made landfall in the U.S. and northern California wildfires continue to burn out of control wiping out entire communities. Is it any wonder that the coin market has been rather erratic and unpredictable, as well? The bottom line is that all of these unfortunate events have taken great tolls, and sadly, have touched on our numismatic community, as well. From this standpoint, we hope that there are better times ahead, and that we all can return to some sense of normalcy soon.

The Reeded Edge remains here on the home front for another two weeks before heading to The P.A.N. Show and then The Whitman Baltimore Coin and Collectibles Expo. We will discuss both of these venues in more detail next week, as their respective dates approach. For the time being, we remain committed here in the office to working up and processing coins from two major collections. We hope that by week's end all of these coins will be listed for sale on a multitude of venues, and most importantly, here on The Reeded Edge webstore. We suggest that you keep an eye on our New Store Items category, as there are quite a few new certified coins going up on a daily basis. There have also been a significant number of new raw coins listed on our eBay TRECoins account, so if this is an area that interest you, we urge you to take a look there, as well. Irrespective of market conditions and circumstances, The Reeded Edge continues to buy and sell coins. Stagnant inventory should not be a problem for us anytime soon!

As we announced last week, two major developments are on the horizon: First, the much-anticipated launch of our new web store has become a reality, as we put the final tweaks on several years of development. Ray has been very busy getting the inventory moved over and beta testing all aspects of functionality. Not that we anticipate a perfect transition, but given our preparation, we hope that it will be near-seamless. As always, your feedback, comments and suggestions will be welcomed; our goal is to have the best coin and collectibles web store on the net, a feat that would not be possible without all of your input. Secondly, we will be doubling our physical office space. This will allow us to streamline shipping, process incoming inventory faster, and increase our productivity in getting coins on the web. With growth comes growing pains, and hopefully with the additional workspace, we will be better prepared to handle some of these new challenges moving forward.

Ordinarily, we don't devote space in our weekly blog to discussing company problems; every business has their share, and most are of little interest outside of the confines of the business. But, when it comes to lying, cheating and stealing, the individuals that engage in this behavior are indiscriminate and could strike anyone of us at any time. In order to help our customers avoid becoming victims, we have published the names and details of some known problem individuals. We don't take this action lightly, and stress, if someone made the "Scumbag Alert!" list below, there is a  very good reason why. This business is difficult enough without being hindered by these type of individuals, and furthermore, we have zero tolerance for them and their illegal activities!

On a more positive note, we want to reiterate that our insatiable appetite to purchase fresh coins has not diminished, not even one little bit. Accordingly, if you have fresh coins for sale, whether it's one high-value piece or an entire collection, The Reeded Edge wants to be your coin dealer. Nobody likes, fresh wholesome U.S. Collector coins more than we do, a fact evident each and every time that we write a check. Please either call our offices @ 301-724-0400, Rob's cell @ 240-422-0118 or Robbie's cell @ 301-876-1332 today for our immediate, no-nonsense offer for your quality rare coins or collectibles.

Highlight New Purchases

(Featured Coins & Currency Added to Inventory Within the Last 30 Days - as of October 10, 2017)

 

Scumbag Alert!

October 5, 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. Owen does occasionally resurface in the coin industry, and given his history with ourselves and other dealers, should be considered both a substantial financial and legal risk.

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. After winning an ANA mediation case against Rhodes for failure to return or pay for our coin, Rhodes was subsequently expelled from the ANA, an expulsion that he is presently appealing. Once Rhodes has exhausted all of his ANA appeals, we intend on presenting our case to the Ohio state's attorney for criminal prosecution. Rhodes, in our estimation, is a sociopathic liar, con man and thief, who poses a risk to the entire coin dealer community.

Individual #3 - William F. "Bill" Hill, 5'8" White Male, early-mid 50's, BR/BR, currently residing at 435 Breakwater Ridge, Atlanta, GA 30328 w/ a mailing address of P.O. Box 71531, Marietta, GA 30062. Hill wrote us a $4130.00 NSF check on 9/22/17 at The VNA Coin Show for four 1891-CC Morgan $'s, all PCGS-graded MS-63 and a 1928 $20.00 St. Gaudens in CH BU. Hill also wrote an additional $40,000+ of similar bad checks at the same VNA show, and the Dearborn, Michigan show the following week. Hill has a history of writing bad checks, including serving several years in jail for a similar offense. Hill, by his own admission, is a compulsive gambler, and has the likelihood of appearing at other coin shows with the intention of passing bad checks. .

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.

 


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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