NCNA Greensboro Show Proves Challenging
Three Week Coin Show Hiatus Provides Overdue Catch-up Time
October 6, 2015 - Mother Nature was not favorable to the Carolinas this last weekend as the western side of Hurricane Joaquin met with an unforcasted stalled low pressure system, resulting in unprecedented rainfall. Although the brunt of the storm hit central South Carolina, there was still significant rainfall in the Greensboro area. News stations were warning people not to travel unless absolutely necessary. Flash flooding was also a problem throughout the area. Apparently, many people heeded the weather warnings, as the NCNA coin show attendance was markedly down from last year. Although the Greensboro Coliseum is famous for hosting athletic events, we are not certain that it is the best location for a coin show. The NCNA must be in agreement as no contracts were handed out for next year's event. We would hate to see this show fade away as there really is a good core of dealers and collectors in this area, as evidenced by the success of coin shows in neighboring Raleigh to the east and Charlotte to the south.
Irrespective of the challenges in Greensboro, Rob and Robbie managed to make the show work. Both sales and purchases were off from Gettysburg and Fredericksburg, but given the foot traffic and dealer attendance, still were fairly significant. In all, the guys returned from North Carolina with almost 2 double row boxes of newly-purchased certified coins. Dollars were the strongest overall area from a sales standpoint, with pieces sold at all price points, including a five-figure rarity. To use a poker analogy, The Reeded Edge managed to beat the house while not being dealt the best hand.
Our next show will not fall until the third week of October giving us some much needed catch-up time in the office. Coins that have been sitting dormant on vault shelves will finally get the attention that they deserve. We also are working through our grading submissions and will use the next several weeks to get those items processed. The aspects of a rare coin operation that allow for the flow of new material also tend to be the most time intensive. Yes, coin shows are great and we love them. But, the time spent in the office can be equally as valuable. Consequently, expect to see quite a bit of new material work its way onto the webstore over the next couple of weeks.
VNA Show Provides a Dose of Southern Comfort
Fresh Coins Abound - 4 Days of Steady Activity
Sept 29, 2015 - While the dealers at The Virginia Numismatic Association's Annual Convention were fighting over a fresh bullion deal that entered the show on Saturday afternoon, Rob and Robbie manned their table and bought numismatic treasures in both quantity and quality unmatched since the ANA. Rob summed it up best, "We could have got in the middle of the bloodbath and tried to squeeze a 1-2% profit on bullion or stayed at our table and serviced the abundant dealer and customer business. By choosing the latter, we bought several rolls of original choice coins put back in the 1920's, a high-denomination currency deal, a small silver dollar collection and a certified silver eagle set. Meanwhile, the dealers who were fighting over the silver deal ended up paying the last dollar for junk silver only to have silver open down over 50 cents on Monday's market, eroding any profit that they could have possibly eked out. So in retrospect, how did we do?" Both Rob and Robbie have contended for sometime that the challenges posed by the current market environment can only be offset by working smart. The phenomena that we observed last weekend is a perfect example of dealers trying to buy the sure thing for too much money, while ignoring the real potential that the show presented. Consequently, where many of the dealers were reporting only a fair show in Fredericksburg, we had a barn burner. This week, you will see many new coins going up on our webstore, due largely to our extensive purchasing at VNA. Coming on the heels of successful Gettysburg and Long Beach venues, Fredericksburg certainly instilled a dose of optimism as we enter the fall coin show season.
This week, Rob and Robbie travel to the heart of ACC country for the North Carolina Numismatic Association Convention in Greensboro, NC. Commencing October 1st and concluding October 4th, this venue is located at the famous Greensboro Coliseum Complex, and draws a great mix of both southern dealers and collectors. North Carolina shows tend to have that special good feel to them, so we maintain a positive outlook for this weekend. Dealer set-up begins on Thursday afternoon, while the public is admitted Friday through Sunday. Rob and Robbie will be at their regular front left entrance location. Just look for The Reeded Edge's famous BUYING BUYING BUYING signs plainly visible from all vantage points in the room. They will be debuting hundreds of new certified coins purchased in Fredericksburg and Long Beach. Of course, the guys will also be buying all fresh numismatic material. Whether it's a single item of value or an entire collection, The Reeded Edge's open checkbook policy will be in full effect. Greensboro is a quaint city with a rich history. Hopefully, this beautiful area will lure you to this week's coin show; if so, please stop by Rob and Robbie's table and say hello!
Long Beach Show Productive
The Reeded Edge Heads to Fredericksburg, VA for the VNA Show
Sept 22, 2015 - Despite the usual complaints about lack of activity, Long Beach proved to be a positive experience for us. Rob arrived for set-up on Wednesday afternoon and continued to canvas the bourse floor buying coins throughout Thursday. In all, he brought back an array of good collector coins as well as a small group of premium quality material destined for our next grading package. Our inventory arrived with an associate prior to Rob, and was being shown by appointment throughout the show. Although we heard very little positive feedback from other dealers about retail sales, we were still able to sell over $100,000 of coins ranging from inexpensive collector material to five-figure rarities. This trip was a departure from how we normally work a major venue, but given the challenges of Long Beach, we decided that our approach was best suited for the current environment. We remember when Long Beach used to be the major coin show on the circuit, and we hope to eventually see those days return. With the competent management team at Collector's Universe at the helm, we believe that this is certainly a possibility. In all, we deemed Long Beach a success, although we had to think outside of the box to achieve our results.
This week, Rob and Robbie will be heading to Fredericksburg, VA for the Virginia Numismatic Association's Annual Convention. This show has established itself as Virginia's premier coin show and one of the better regional shows in the whole mid-Atlantic region. Approximately 100 dealers will fill the Fredericksburg Expo Center for what promises to be 3 days of brisk numismatic trading. Set-up kicks off on Thursday, September 24th and then the public will be admitted from Friday, September 25th through Sunday, September 27th. Rob and Robbie will have hundreds of new coins with them, a by-product of a month spent buying on the road. Just look for their three table mega-setup in the front right section of the bourse floor. Their giant BUYING, BUYING, BUYING signs will be plainly visible from all vantage points in the room. As usual, The Reeded Edge's open checkbook policy will be in full effect. Any more, both what and how much we buy are our single greatest measures of a show's success, and we intend on making Fredericksburg a barn burner. If you plan on attending and have any significant numismatic holdings for sale, please talk to Rob and Robbie, as no numismatic team in Fredericksburg is more serious about buying your coins. For those not familiar with this historic area of north-central Virginia, Fredericksburg played an active role in the Civil War and much of the history still resonates throughout the old downtown. It is an ideal location to plan a weekend getaway, and perhaps take in a coin show, as well. If Fredericksburg, VA is in your plans this weekend, please stop by the expo center and say hello, as we would love to see you at the show.
Highlight New Purchases
- 1802/0 Draped Bust Half Cent, PCGS VG-10 - Original and medium brown, this is a rare date with less than 1000 survivors known.
- 1810 Half Cent, PCGS XF-40 - Medium brown example of this tougher early date.
- 1833 Half Cent, PCGS MS-63+ BN - Rich variegated luster shades from dark brown to tan.
- 1820 Large Cent, NGC MS-64 BN - A typically lustrous and fresh example of this Randle Hoard date.
- 1874 Indian Cent, PCGS MS-65 BN, CAC Approved - Glossy brown with an icy blue patina.
- 1879 Indian Cent, NGC MS-64 RD, CAC Approved - Green-orange luster with a real "look".
- 1972 Lincoln Cent, Doubled Die Obverse, PCGS MS-66 RED - a fiery orange-red blazer!
- 1864 Two Cent Piece, Small Motto, NGC MS-65 RB - Good luster and originality on this GEM.
- 1885 3CN, PCGS XF-45, CAC Approved - a very RARE business strike 3 Cent Nickel, and this one is PERFECT for the assigned grade.
- 1854 3CS, PCGS MS-64, CAC Approved - Rich satiny luster and totally original. Fresh!
- 1861 3CS, PCGS MS-65, CAC Approved - Blue and pink toning with pronounced underlying luster.
- 1885 Liberty Nickel, NGC PF-64 Cameo - An icy blue example with good eye appeal.
- 1886 Liberty Nickel, PCGS MS-63 - Original white and well struck.
- 1923 Buffalo Nickel, PCGS MS-66, CAC Approved - Stunning spearmint green color with rich satiny luster.
- 1935 Buffalo Nickel, Doubled Die Reverse, PCGS XF-45 - One of the scarcer 20th century doubled dies, and this example is very nice for the grade.
- 1836 Capped Bust Dime, PCGS MS-62, PQ! - Satiny luster with gorgeous toning.
- 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!
- 1858-S Liberty Seated Dime, PCGS VF-30, CAC Approved - Original, light grey example of this scarce date.
- 1916-S Mercury Dime, PCGS MS-67+, CAC Approved - Top pop, the one and only 67+ graded, and it's downright beautiful.
- 1831 Capped Bust Quarter, Small Letters, PCGS AU-55 - Very original with nice luster and pale gold overlays.
- 1864 Liberty Seated Quarter, PCGS MS-62, Rattler - Satiny white with pronounced luster.
- 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.
- 1917 Standing Liberty Quarter, PCGS MS-65 FH - Original luster with gold highlights; pretty!
- 1917-D Standing Liberty Quarter, Ty II, PCGS MS-64 FH - Lovely original cartwheel luster.
- 1927-S Standing Liberty Quarter, PCGS AU-55, CAC Approved - Rich luster with an uncirculated look.
- 1929-D Liberty Standing Quarter, PCGS MS-64 FH - White, original and PQ example of this conditional scarcity.
- 1934 Washington Quarter, PCGS MS-67 - Gorgeous luster with electric gold highlights.
- 1936-S Washington Quarter, PCGS MS-67 - Blazing white and perfect for the grade; unimprovable!
- 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!
- 1806 Draped Bust Half Dollar, Pointed 6, Stem, PCGS VF-30 - Original dove-grey and attractive.
- 1807 Draped Bust Half Dollar, PCGS VF-35 - Original with some pretty toning, most notably on the reverse.
- 1807 Capped Bust Half Dollar, 50/20, NGC AU-55 - Lustrous, particularly in the fields, with steely-gold patina.
- 1839 Capped Bust Half Dollar, Reeded Edge, PCGS MS-64 - Lustrous original-white example.
- 1876-S Liberty Seated Half Dollar, NGC MS-64+ - Original white with an arc of peripheral color.
- 1937-S Walking Liberty Half Dollar, PCGS MS-66 - a screaming white & fully original example; NICE!
- 1799 Draped Bust Dollar, PCGS XF-40 - Attractive old gold with lustrous highlights.
- 1862 Liberty Seated Dollar, PCGS MS-62 - Totally white with satiny luster and heavy die polish lines in the fields. Tough date!
- 1870-CC Liberty Seated Dollar, PCGS XF-45 - Nearly AU with ample original luster.
- 1873-S Trade Dollar, PCGS AU-58 - An original white example that looks more uncirculated than AU; nice quality for the assigned grade.
- 1880-S Morgan Dollar, PCGS MS-67+ - Few coins are prettier than GEM 80-S Morgan Dollars; this one has rich, original luster and the signature puffy cheek.
- 1882-CC Morgan Dollar, PCGS MS-67 - Outrageous luster and the surfaces that you would expect for the assigned grade. Scarce in MS-67.
- 1883-CC Morgan Dollar, PCGS MS-66+ - Blazing cartwheel luster and a clean, puffy cheek.
- 1884-S Morgan Dollar, PCGS MS-61, CAC Approved - Satiny white with a semi-PL obverse and great luster. This one is really NEW, and as such, is RARE!
- 1885 Morgan Dollar, ANACS PR-60 - Mildly cameo with a nice "look".
- 1885-CC Morgan Dollar, PCGS MS-62 DMPL - Strong watery mirrors with areas of tan toning.
- 1888-S Morgan Dollar, NGC MS-64, CAC Approved, PQ - Fresh cartwheel luster with a lot of pop!
- 1889-O Morgan Dollar, PCGS MS-65 - A screaming white GEM example of this better-date Morgan Dollar.
- 1890-O Morgan Dollar, PCGS MS-65 - White GEM example.
- 1892 Morgan Dollar, PCGS MS-64 - White and clean with just a touch of gold on the obverse periphery.
- 1892-CC Morgan Dollar, PCGS MS-63 - A blast white example.
- 1893-O Morgan Dollar, NGC AU-58 - Original white with just minimal wear.
- 1894-S Morgan Dollar, NGC MS-63 - Rich cartwheel luster, limited in grade by small contact marks.
- 1897-O Morgan Dollar, NGC MS-62 - Original white with soft, creamy luster.
- 1900-O/CC Morgan Dollar, PCGS MS-65+ - Creamy original-white luster with clean surfaces.
- 1903 Morgan Dollar, PCGS MS-66+, CAC Approved - Close to MS-67 quality, rich luster with an arch of color.
- 1911-D $2.50 Indian Gold, PCGS AU-50 - a wholesome, and probably under-graded, example of this key-date $2.50 Indian.
- 1891-CC $5.00 Gold, PCGS MS-63 - Fresh luster and a very wholesome, choice example.
- 1877 $20.00 Liberty Gold, PCGS MS-60 - Scattered bagmarks as expected, but with vibrant satiny luster.
- 1879 $20.00 Liberty Gold, PCGS MS-62+ - A conditionally RARE date, and this one is a frosty blazer!
- 1907 $20.00 Liberty Gold, PCGS MS-64+ - A sparkling near-GEM example that is downright RARE any finer.
- 1913 $20.00 Saint Gaudens Gold, PCGS MS-63 - a lustrous and fresh example of this better date P Mint Saint.
- 1935 P,D,S Texas Commemorative Half Dollars (3), PCGS MS-66, OGH - Crusty, original superb GEM set.
Excellent ANA Show Exceeds Expectations
Mixed Reviews as Some Dealers Still Trying to Figure out Market
Aug. 18, 2015 - The ANA's World's Fair of Money continues to be the barometer to measure the coin market. Our impression after 10 days in Chicago is that the market is not only healthy, but in certain regards, on fire. But not everyone at The Donald Stephens Convention Center shared out opinion. Yes, there certainly are parameters to negotiate the waters of the current coin market. Collector coins still reign king. Generics are still languishing. The market is also extremely price sensitive. A few dollars one way or the other can make all of the difference between making a sale and coming up empty. Premiums can be realized for the right coins, but collectors approach this area in a measured and selective way. The days of throwing money aimlessly at rare coins are over. Information is more accessible than ever, and with the advent of the internet as a viable rare coin marketplace, those dealers trying to sell coins with an edge or an angle are gasping for air. All of these phenomenons were evident at the ANA. For dealers well stocked with collector coins at today's levels, none of these factors mattered. These were the folks that reported a great show and had smiles on their face from start to finish. The bottom line was that both collectors and dealers alike came to Chicago with the goal of trading coins. As has been the case at coin shows for the last several years, some dealers figured it out and some didn't.
The Reeded Edge had one of their best ANA Shows ever, due in no small part to our consorted effort to cater to the collector while remaining price sensitive to current market conditions. In all, Rob and Robbie conducted just south of 3/4 of a million dollars worth of numismatic business. Equally encouraging was the fact that The Reeded Edge's business was split almost equally between purchases and sales. What this means is that you will see an unprecedented number of new coins emerging on our webstore throughout the week. Included with our ANA newps are many fresh coins back from grading at PCGS. Summer is not normally an exciting time in the rare coin business. But, this summer has been, and remains, different than most. The ANA, once again, affirmed that the coin market is alive and well, and in certain respects, firing on all cylinders. That is, provided, that your rare coin operation runs like a Mercedes and not an Edsel!
Included amongst our ANA new purchases are a wonderful group of PCGS-certified type spanning early copper to 20th century silver. Also worth mentioning is one of our largest groups of better-date dollars that we have had in quite some time. As most of you are probably aware, we recently purchased a world-class foreign collection. Some of the better pieces were sent to NGC for grading. We are happy to report that these pieces have finally come back to us, and now are available for your consideration. Also, hundreds of world coins are exclusively listed on our eBay store, so please check there, as well. Finally, a small but important group of U.S. gold coins round out our show purchases. Due to both the scope and variety of all of these new coins, we suggest that you check our New Store Items page often throughout the week.
As we alluded to above, this summer has been unusually active. Business, although not always outwardly obvious, has been both consistent and steady. Sales have spanned coins and currency at all price points. Better date Morgans are still enjoying their day in the sun, both figuratively and literally. Key-date collector coins also seem to be experiencing a renaissance. As we have been noting for some time, better date dollars are still not coming out of the woodwork. If the market were to soften in this area, we would be seeing multiples of semi-key and key date dollars entering the marketplace, but this simply has not been the case. As a market maker in this segment of the numismatic market, this trend is concerning, especially from a buying standpoint. As a seller, this trend is both good and bad; the good being that demand hasn't waned and bad from the standpoint that there isn't more product in the marketplace for us to sell. It is easy to forget how popular this series is, a fact we are not losing sight of even during these historically slower summer months.
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.
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.
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.