The Reeded Edge Heads to California
Long Beach This Week, and St. Louis Next Week
February 2, 2016 - It's that time of year again when the temperatures drop, snow covers much of the country and The Reeded Edge takes to the road.
First up, is the quintessential Long Beach Coin and Collectibles Exposition. Southern California's premier coin show and still one of the premier national coin shows, this show should give us a good indication if the market exuberance demonstrated at FUN is still intact. We have measured expectations for Long Beach, although we believe that the coin market in general is fairly healthy. Our temperance is more of a demographic issue than a market statement. Both Rob and Robbie will be in Long Beach this Wednesday and Thursday. We have dispatched our stealth sales force to work the bourse floor and sell coins on our behalf, so that the guys can stay focused on procuring coins for our customer base. By devoting equal resources to both buying and selling, we should have a real good feel for the mood of the show by week's end. PCGS is promoting their $10.00 show crossover service throughout Long Beach, and this should definitely jump start show activity. If you have anything of value for sale and would like to schedule an appointment with Rob or Robbie at Long Beach, you may reach Rob on his cell @ 240-422-0118 or Robbie on his @ 301-876-1332. Tabled dealers may simply text us their table number, and one of us will show up. If you desire a private meeting, we will be conducting them next door to the convention center, at the Hyatt Regency, by appointment. With hard work and perseverance, we feel this venue should produce dividends.
Next week, we will be visiting the nation's heartland. The St. Louis Greater American Coin Fair (also known as the St. Louis Airport Show) is historically one of the best retail collector-based coin shows in the country. Although much smaller in size than Long Beach, this show is attended by many of the same prominent, national dealers. This year, both Rob and Robbie will be crammed behind our tight booth space in the center of the main bourse hall. We have to scale it down for this show, as space is at a real premium. Last year, the wait list to secure bourse space at this successful show was over 30 dealers. Where Long Beach is large in size with big booths and wide aisles, the St. Louis Airport Hilton's bourse floor is small and compact. This is a difficult venue to pound the pavement trying to buy coins, for no other reason than the room is so difficult to navigate. This is particularly true Friday once the public is admitted and the isles are usually too full to even walk more than a few feet at a time. We generally have an excellent show at St. Louis, and see no reason why this year's venue will be any different. The guys will have a vast array of certified U.S. coins with them at all price ranges. Included will be many of our Long Beach new purchases, as well as our grading returns fresh back from PCGS. We hope that all of our friends in the greater St. Louis area will stop by our table and say hello, especially those of you that deal remotely with Robbie, as this will be his first time attending this venue.
The Reeded Edge Launches our 5th Annual Toys for Kids Christmas Celebration with The Salvation Army
Highlight New Purchases
- 1837 Large Cent, Head of 38, PCGS MS-64+ BN, CAC Approved - Glossy brown with much underlying RED.
- 1864 Indian Cent, Bronze, PCGS MS-65 RB, CAC Approved - A lovely, original GEM which is about 40% RED.
- 1867 Indian Cent, PCGS MS-65 BN, CAC Approved - a stone GEM with quite a bit of RED.
- 1877 Indian Cent, PCGS AU-55, CAC Approved - Chocolate brown and wholly original.
- 1877 Indian Cent, PCGS MS-64 BN - Brown GEM example with ample red poking through; RARE in mint state.
- 1879 Indian Cent, NGC MS-64 RD, CAC Approved - Green-orange luster with a real "look".
- 1902 Indian Cent, PCGS MS-66 RD - Attractive and fiery with golden-green highlights.
- 1912-S Lincoln Cent, PCGS MS-65 RB, CAC Approved - 50% red with great luster and originality.
- 1871 Two Cent Piece, PCGS PR-65 BN - A gorgeous original GEM with much underlying RED.
- 1871 Shield Nickel, PCGS PR-66 - Lustrous original white with abnormally nice "pop" for this normally deficient issue.
- 1884 Liberty Nickel, PCGS MS-65, CAC Approved - Outstanding luster on this mark-free GEM.
- 1891 Liberty Nickel, PCGS MS-65 - Flashy white and original GEM example.
- 1901 Liberty Nickel, PCGS MS-66, CAC Approved - A sparkling GEM with pristine surfaces.
- 1919-D Buffalo Nickel, PCGS MS-61 - Soft white luster with an amazing strike.
- 1920-D Buffalo Nickel, PCGS MS-63 - Free of marks and with a soft golden patina.
- 1935 Buffalo Nickel, Doubled Die Reverse, PCGS AU-58 - Very nice, near-uncirculated example of this RARE doubled die Buffalo.
- 1937-D Buffalo Nickel, 3 Legs, PCGS AU-55 - Soft luster and particularly well struck for this normally deficient variety.
- 1885 Liberty Seated Dime, PCGS PR-64 CAM, CAC Approved - Pretty and original!
- 1886-S Liberty Seated Dime, PCGS MS-63, CAC Approved - White, lustrous and untoned.
- 1916-D Mercury Dime, PCGS AU-53 - Soft white, untoned example with virtually full bands.
- 1916-S Mercury Dime, PCGS MS-67+, CAC Approved - Top pop, the one and only 67+ graded, and it's downright beautiful.
- 1926-S Mercury Dime, PCGS MS-63 FB - A well struck toned example of this scarce date.
- 1929-S Mercury Dime, PCGS MS-66+, CAC Approved - Originally toned GEM with vibrant underlying luster.
- 1941-S Mercury Dime, NGC MS-68* - Intense multi-color toning, and perhaps one of the prettiest Mercury Dimes that we have ever had; Auction record of $1500+.
- 1818 Capped Bust Quarter, PCGS VF-25, CAC Approved - Dove grey and well struck.
- 1831 Capped Bust Quarter, Small Letters, PCGS AU-55 - Very original with nice luster and pale gold overlays.
- 1860-O Liberty Seated Quarter, PCGS AU-55, CAC Approved - Quite lustrous with wonderful eye appeal.
- 1902-O Barber Quarter, PCGS MS-64 - Well struck with satiny white luster and mark-free surfaces.
- 1920-S Standing Liberty Quarter, PCGS MS-63, CAC Approved - Rich satiny luster with light gold highlights.
- 1923-S Standing Liberty Quarter, PCGS XF-40 - Light, even circulated, problem-free example with nice details and a strong date.
- 1924-S Standing Liberty Quarter, NGC MS-64 FH - Very lustrous with a golden overlay and deeper color at the peripheries. Well struck and attractive.
- 1930 Standing Liberty Quarter, PCGS MS-66 FH - Blazing white and fully struck; exactly what a SLQ should look like!
- 1936-D Washington Quarter, PCGS MS-64 Rattler - Original with soft satiny luster.
- 1795 Flowing Hair Half Dollar, O-103a, R-5, PCGS F-15, CAC Approved - Variety with major retained CUD on the reverse. Wholly original and under-graded, and much nicer than most in VF holders; the true meaning of PQ!
- 1818 Capped Bust Half Dollar, PCGS MS-63, PQ - Satiny white with great skin and just a touch of peripheral color.
- 1832 Capped Bust Half Dollar, Large Letters, PCGS MS-62 - Outstanding luster with beautiful peripheral toning. PQ, and looks GEM!
- 1859 Liberty Seated Half Dollar, PCGS PR-61 - Pretty multicolored concentric toning on the obverse periphery.
- 1867-S Liberty Seated Half Dollar, PCGS MS-62 - A satiny and mark-free choice example of this scarce date. PQ!
- 1880 Liberty Seated Half Dollar, PCGS PR-64 - Pretty toning and nearly cameo on the obverse.
- 1916 Walking Liberty Half Dollar, PCGS MS-64 - Lightly toned, original, mark-free and CHOICE!
- 1920-S Walking Liberty Half Dollar, PCGS MS-63 - Light mottled gold toning and nice, fresh luster; Totally original!
- 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.
- 1872-CC Liberty Seated Dollar, PCGS AU-55 - Hints of gold on the obverse which is much more pronounced on the reverse, this RARE date also evidences strong, underlying luster.
- 1883-S Morgan Dollar, PCGS MS-63 - Blazing white and nice!
- 1886-O Morgan Dollar, PCGS MS-63 - Original white luster and just a pleasant all-around coin.
- 1887/6-O Morgan Dollar, PCGS MS-63 - Satiny luster and choice.
- 1889-CC Morgan Dollar, PCGS AU-53 - Off-white with luster in protected areas and no major marks whatsoever.
- 1892 Morgan Dollar, PCGS MS-64 - An original-white CHOICE example overlaid in light gold.
- 1892-CC Morgan Dollar, PCGS MS-63 - Frosty white with gold at the peripheries.
- 1894-O Morgan Dollar, PCGS MS-63 - A soft-white, original CHOICE example of this conditionally rare date.
- 1895-S Morgan Dollar, NGC AU-58 - White and well struck with satiny luster.
- 1895-S Morgan Dollar, PCGS MS-64 - Original white with lightly frosted motifs.
- 1896-O Morgan Dollar, PCGS MS-63 - A really choice example of this conditionally RARE date.
- 1896-S Morgan Dollar, PCGS MS-63 - Satiny luster with gold clinging to the obverse rim. Well struck for the issue.
- 1897-O Morgan Dollar, NGC MS-62 - Original white with soft, creamy luster.
- 1903 Morgan Dollar, PCGS MS-66+, CAC Approved - Close to MS-67 quality, rich luster with an arch of color.
- 1904 Morgan Dollar, PCGS MS-65 - Soft white luster and extremely clean.
- 1924-S Peace Dollar, PCGS MS-64, CAC Approved - Blast white original GEM; really nice quality!
- 1928 Peace Dollar, PCGS MS-65, CAC Approved - Glowing original luster and a true GEM!
- 1921 Missouri 2 x 4 Half Dollar, PCGS MS-64 - Original white with gold highlights predominantly on the peripheries.
- 1850-O $1.00 Gold, PCGS MS-61 - Lustrous and well struck.
- 1855 $1.00 Gold, Type II, PCGS MS-61 - Pretty, well struck example, these have gotten so cheap that they are absolute no-brainers!
- 1857-C $1.00 Gold, PCGS AU-53 - Well struck example of this difficult "C" mint gold dollar.
- 1885 $1.00 Gold, PCGS MS-64 - Nice luster and semi-PL.
- 1839-C $2.50 Gold, PCGS AU-55 - Orange coloration, this is both a popular and RARE coin.
- 1851 $2.50 Gold, PCGS MS-63 - Satiny luster with nice freshness.
- 1856-S $3.00 Gold, PCGS AU-53 - Well struck with ample luster remaining; SCARCE date in high grade.
- 1889 $3.00 Gold, PCGS AU-58, CAC Approved - An honest slider with pronounced, original luster.
- 1878 $5.00 Liberty Gold, PCGS MS-62 - Semi prooflike with lightly frosted devices; nice looking $5.00!
- 1850-O $10.00 Liberty Gold, PCGS AU-50 - This is a really tough date to find in high-grade.
- 1851 $10.00 Liberty Gold, PCGS MS-61 - Light yellow even coloration on this lower-pop, P-mint $10 Liberty.
- 1868-S $20.00 Liberty Gold, PCGS XF-45 - Original orangy-gold coloration with subdued luster on this better-date $20.
- 1885-S $20.00 Liberty Gold, NGC MS-62 - Original with vibrant luster and some "coppery" highlights.
- 1896-S $20.00 Liberty Gold, NGC MS-62 Fatty - Original luster and skin.
- 1907 $20.00 St. Gaudens Gold, High Relief, Flat Rim, NGC MS-63 - A choice example of this classic rarity with glowing luster and no major marks.
- 1914 $20.00 St. Gaudens Gold, PCGS MS-62 OGH - A really nice, original example, and were it not for one scratch in the left field, this would be in a MS-64 holder.
- 1916-S $20.00 St. Gaudens Gold, PCGS MS-65 - A sparkling GEM with cleaner-than-usual surfaces.
- 1880 $1.00 Legal Tender, FR-30, PMG AU-58 - Bright colors and good embossing; Fresh!
FUN Kicks Off 2016 in Style
Strong Retail Turnout in Tampa as Bourse Wins Out Over Auctions
January 12, 2016 - This year certainly started out Happy, and if the FUN Show was any indication, it might stay that way for a while. There is a qualifier to that statement, but more about that later.
Rob and Robbie got into Tampa on Monday to conduct pre-show wholesale trading. Their cell phones both lit up the second their plane touched down. It was obvious from the onset that our trading partners were antsy and wanted to buy coins. Ironically, almost every contact that we made on Monday were fellow dealers wanting first shot at our inventory. Sellers were short in supply, and for the most part, this crowd wasn't really evident until later Tuesday afternoon. We have often stated that money is made in the coin business on the buy-side, and nowhere was this more evident than at pre-FUN trading. Although FUN is historically a show where both optimism and aggressiveness are prevalent, with the 2015 cash-strapped coin market still in our rearview mirror, we weren't sure what to expect. It sure didn't take long to figure out. Our first two stops resulted in mid five-figure invoices with coins from several hundred to twenty thousand dollars all finding new homes. In all, we met with half a dozen serious clients with all but one stacking up multiple coins to buy. It sure is a nice feeling to know that you're show expenses are 100% paid for two days before the public is even admitted!
Day two saw more of the same brisk trading although the average invoice value was slightly down. For whatever reason, this was the day that we parted company with some old friends. As those of you with inventory-based businesses are painfully aware, there is nothing worse than stagnant inventory. We used our opportunities on Tuesday to rid ourselves of some of the oldest items in stock, and all without taking losses (well, at least not on everything). This aspect, in and of itself, made the day worthwhile. Given that we both created quite a bit of cash flow and made money, we chalked up the second day as another success. Needless to say, at this point, we were enthusiastic about the prospects of the actual show commencing on Wednesday.
If there was one day that fell a bit short of expectations, it probably was Dealer Set-up on Wednesday. Under ordinary circumstances, Wednesday's business would have looked pretty good. But coming on the heels of two really good days of pre-show trading, we considered it decent but nothing more. Activity was brisk, but buyers and sellers seemed a bit more tempered than on the first two days. Of course, the pre-show always brings out the country's biggest and most successful rare coin dealers, where show set-up brings out everybody, including those still somewhat shell-shocked from the challenging market of 2015. There was another observation that we made on Wednesday, and that was an across-the-board weakness in the Heritage pre-auction bidding. This suspicion came to fruition once the auction went live, as Wednesday night prices proved somewhat soft. The one takeaway from Day One of FUN is that this was a major coin show where the auctions didn't dominate the conversation. This was certainly an interesting prospect for the many hundreds of dealers set up on the bourse floor, depending not only on general floor traffic, but also buyers willing to open their checkbooks. With Heritage proving to be less of a competitor, the bourse actually captured some of the proceeds normally targeted at the auction. Again, this was both an interesting and somewhat unusual observation.
Thursday and Friday the general public showed up in droves. Although we are not sure of the actual numbers, we would not be surprised if FUN set an attendance record. Dealers apprehensive of the Tampa location quickly forgot their concerns; most, ourselves included, were too busy writing invoices to think about much else. The environment was super-active, and Rob and Robbie enjoyed every minute of it. It was a good thing that our good friend and Baltimore colleague Miguel Lopez was present to help us, because the guys had little time to come up for air. Buying and selling was in an almost perfect equilibrium for this two day period. As we eluded to earlier, we parted ways with some old friends, and managed to pick up many new additions for the web store, Coin World, our Monday Mailers and eBay. The more venues that we continue to explore, the more challenging the buying facet of the business gets. Buying coins in general is not difficult, but buying the right coins at true market value can be a lot harder than it sounds. Happily, we came back from Florida with MANY new coins which should be making their debut this week.
The qualifier that we eluded to earlier was the weakness of the Heritage Auction. We believe that this is not s single event, but rather an emerging trend. Auctions have primarily been responsible for saturating the market with coins. They were one of the key reasons why many areas of the market were softer last year, and the market as a whole proved challenging. We could write a book about all of the factors that contribute to this situation, but we'll save that commentary for another day. The fact is that the inverse happened at FUN, and we expect to see this trend continue throughout the year. Perhaps the numismatic auction market has topped out, as both consignors and potential buyers turn back to the conventional bourse floor as their primary acquisition/liquidation tool. The role of the numismatic auction initially was to provide a marketplace for specialized coins. Over the years, it has evolved into a catch-all for everything numismatic, specialized or otherwise. Are we at the beginning stages of a reversal? Only time will answer that question with certainty, but judging from FUN, we certainly have our suspicions.
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.