The Reeded Edge Heads to Schaumburg, IL for The Central States Numismatic Convention
April 18, 2014 - The major coin show drought is over. Central States, one of the bell weather venues of the spring season, looms on the horizon, and The Reeded Edge will be in Schaumburg making their presence felt. Both Rob and Robbie will be on-hand at The 75th Annual Central States Numismatic Society Convention located at their usual front-and-center table #1401. The guys will be getting into Schaumburg Tuesday, April 22nd to conduct pre-show, wholesale trading. (If you would like to set up an appointment to buy or sell coins during this period, please call Robbie Jenkins @ 301-876-1332). Please note: Tuesday's business is by-appointment, hotel room trading and NOT located at the actual show location. Official show dealer set-up is on Wednesday, April 23rd, with public hours commencing on Thursday morning and concluding on Saturday afternoon. The convention center is adjacent to The Schaumburg Renaissance Hotel with easy access and ample parking available. With the coin market remaining both healthy and active, we are expecting a great show. And as usual, The Reeded Edge will be looking to buy just about any rare and collectible coins and currency. We will be maintaining our open checkbook policy throughout the show; Just look for the giant BUYING, BUYING, BUYING sign plainly visible from all vantage points on the bourse floor, then ask for Rob or Robbie, and get ready to do some business! Whether you're trying to find that special rare coin dealer, or you're just looking to buy or sell rare coins, Schaumburg should be the place to be and The Reeded Edge, the people to see. We really hope to see you at the show next week.
Highlight New Purchases
- 1798 Large Cent, 2nd Hair Style, PCGS XF-45 - Choice, medium-brown example.
- 1811 Large Cent, PCGS AU-58, CAC Approved - Wholesome and problem-free.
- 1819 Large Cent, PCGS MS-62+ BN, CAC Approved - Lustrous brown and very choice.
- 1823/2 Large Cent, NGC XF-45 BN, CAC Approved - Medium brown with pleasing surfaces.
- 1831 Large Cent, NGC MS-62 BN - Lustrous brown with hints of original RED.
- 1838 Large Cent, PCGS MS-63 BN, CAC Approved - Perfect color with pronounced luster.
- 1838 Large Cent, PCGS MS-66 BN, CAC Approved - A gorgeous brown GEM with red peeking through. Virtually PERFECT!
- 1846 Large Cent, Small Date, PCGS MS-65 BN - Blue-brown with a pronounced glow.
- 1868 Indian Cent, PCGS MS-64 RD, OGH, PQ! - Original RED and nearly MS-65 quality.
- 1868 Indian Cent, PCGS MS-65 BN, CAC Approved - A wonderfully original brown GEM.
- 1871 Indian Cent, PCGS MS-63 RB - 70% RED and very attractive.
- 1919-D Lincoln Cent, PCGS MS-64RB, CAC Approved - 80% Red and close to GEM.
- 1926-S Lincoln Cent, PCGS MS-64 BN, CAC Approved - Glossy brown with exceptionally nice surfaces.
- 1864 LM Two Cent Piece, NGC MS-66 RB - Original GEM surfaces.
- 1884 Three Cent Nickel, ANACS MS-61 - True business strike & incredibly RARE!
- 1913-S Buffalo Nickel, TY II, NGC MS-63 - Lustrous with very pretty color.
- 1926-D Buffalo Nickel, PCGS MS-64 - Luster and surfaces are GEM quality, but soft on the reverse strike.
- 1931-S Buffalo Nickel, PCGS MS-66 CAC Approved - a screaming white blazer!
- 1814 Capped Bust Dime, Large Date, PCGS XF-40 - Original medium-grey toning.
- 1893-O Barber Dime, PCGS MS-64 - Old gold toning w/ strong underlying luster.
- 1876 Twenty Cent Piece, PCGS MS-63 - Original coin with dusky toning.
- 1822 Capped Bust Quarter, PCGS F-12, CAC Approved - Original grey; popular date.
- 1838 Capped Bust Quarter, Browning 1, PCGS MS-62 - Pretty blue and gold toning w/ strong luster.
- 1851-O Liberty Seated Quarter, NGC F-15, CAC Approved - Original with just honest circulation. RARE date.
- 1857-O Liberty Seated Quarter, PCGS AU-55, CAC Approved - Deeper gold toning showing some striking softness.
- 1906-O Barber Quarter, PCGS MS-66, CAC Approved - Beautiful original GEM with blue-grey and orange mottled toning.
- 1923 Standing Liberty Quarter, PCGS MS-66 - Original with mottled gold toning.
- 1807 Draped Bust Half Dollar, PCGS VF-20, CAC Approved - Dove grey and perfectly original.
- 1810 Capped Bust Half Dollar, NGC AU-58 - Original with really nice underlying luster.
- 1857-O Liberty Seated Half Dollar, PCGS MS-61, CAC Approved - Premium quality, original white coin; RARE date in mint state.
- 1861 Liberty Seated Half Dollar, PCGS MS-64 - Lustrous and original with mottled gold toning.
- 1872-CC Liberty Seated Half Dollar, NGC VF-35 - Off-white with luster in protected areas; SCARCE date.
- 1894-O Barber Half Dollar, PCGS MS-61, PQ! - Very pretty toning with good luster and strike.
- 1914 Barber Half Dollar, PCGS VF-30, CAC Approved - Perfect dove-grey, original example.
- 1917-D Walking Liberty Half Dollar, Reverse, PCGS MS-62, PQ! - Original with satiny luster and mottled light toning concentrated on the obverse periphery.
- 1933-S Liberty Walking Half Dollar, PCGS MS-64+, CAC Approved - Blast white and nearly GEM quality.
- 1859-O Liberty Seated Dollar, PCGS MS-61 - Lustrous and original white with small marks consistent with grade.
- 1883 Morgan Dollar, PCGS MS-66+ - Satiny white with gold in the denticles.
- 1884-CC Morgan Dollar, PCGS MS-63 DMPL - Black and white and ultra-deep.
- 1891-CC Morgan Dollar, PCGS MS-62, CAC Approved, Rattler - Original white and VERY attractive. Some left field hairlines prevent a higher grade, otherwise GEM quality.
- 1902-S Morgan Dollar, PCGS MS-64+, CAC Approved - White and fresh.
- 1927-D Peace Dollar, PCGS MS-65 - An original white piece with a remarkably clean obverse.
- 1927-S Peace Dollar, NGC MS-64 - Blazing white and well struck.
- 1928 Peace Dollar, NGC MS-62 - 100% white with clean surfaces.
- 1861 $1.00 Gold, TY III, PCGS MS-62 - Original satiny luster.
- 1834 $2.50 Classic Head Gold, PCGS MS-61 - Flashy and lustrous.
- 1839-C $2.50 Classic Head Gold, NGC AU-55 - Light gold w/ a translucent patina.
- 1839-D $2.50 Classic Head Gold, NGC AU-50 - Bright gold coloration; RARE date.
- 1914 $2.50 Indian Gold, NGC MS-61 - Lustrous and attractive for the grade.
- 1866 $3.00 Gold, NGC MS-61 - Frosty; RARE date.
- 1878 $3.00 Gold, NGC MS-63 - Lustrous, choice example.
- 1849 $10.00 Liberty Gold, PCGS MS-61 - Softly struck with variegated luster; scarce date.
- 1922-S $20.00 St. Gaudens Gold, PCGS MS-64 - Fresh luster and nice surfaces.
- 1925-S California Half Dollar, PCGS MS-65, CAC Approved - Multicolor toning with cartwheel luster.
- 1920 Pilgrim Half Dollar, PCGS MS-66 - Pretty toning with pastel highlights, most noticeable on the obverse.
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.
Solid Baltimore Show Indicates Underlying Market Strength
April 1, 2014 - The Whitman Baltimore Coin and Collectibles Expo was exactly what we predicted, a solid show with no surprises. The coin market remains steady, albeit with some qualifiers: 1. We felt a cash flow crunch, mostly amongst the dealer contingent that wanted to trade coins at a little too much money. Their reluctance to come off of material at adjusted market levels resulted in stagnant inventories and a lack of working capital. Both Rob and Robbie were a little surprised at the number of dealers asking for credit or terms on their purchases. 2. Ordinary inventory is a little bit soft at present, and consequently, savvy dealers took note and discounted accordingly. What we mean by "ordinary" are generic series like common date Morgan Dollars, late-date Walking Liberty Half Dollars, classic commemoratives and generic U.S. gold coins, to name a few. In addition to these barometer series, some key-date material remains soft, as does certain small proof type. The rule of thumb for us was, if you repeatedly saw the same items in numerous dealer's cases, that was our indication to be net sellers for similar inventory. 3. The market is "levels conscious", even on better numismatic material that is somewhat short in supply. The days of asking pie-in-the-sky prices for neat coins are over. There is a ceiling for almost everything right now, and there is no faster way to alienate a potential buyer in this market than by quoting an overly aggressive asking price. For the dealers that recognized these rules, the game was easy to play, and Baltimore was a perfect example of this. In all, our firm did almost $300,000.00 worth of business. As usual, the great majority of this was middle-priced collector material. We found early copper, better-date Morgan Dollars and dated gold to be particularly strong.
As many of you area aware, we have been market makers in better date Morgan Dollars for over a year, and have been largely responsible for many of the higher resulting prices. A plus sign on the weekly Greysheet (Coin Dealer Newsletter) is generally the result of a Reeded Edge bid on the Certified Coin Exchange. It is a bit amusing to us when dealers that couldn't spell better-date dollar six months ago, try to explain to us why this series is now so hot. It is also amusing to see these same dealers getting so far ahead of the market that they are asking tomorrow's prices on a series they know little if anything about. We saw many better-date dollars sitting idle in dealer's showcases for these very same reasons. Yes, this series is still very strong, but only for the educated players (both buyers and sellers) that have a thorough understanding of what these coins are really worth. Most Morgan Dollars are not rare, and although demand has taken certain dates off of the market, over-pricing can bring them back out into the market just as quickly. This is a time tested lesson well worth noting, and one which our firm pays very close attention to.
So to summarize, Baltimore was a good show. For the smart dealers, collectors and investors, opportunities existed throughout the bourse floor. As always, there was a lot of business transacted, and overall the coin market remained active and strong. The upcoming Central States Show could be equally as good if not better than Baltimore, as long as we temper our expectations and curb our exuberance.
Our need to buy U.S. collector coins is ongoing. We are aggressively buying all better United States coins at all future upcoming shows and back here in our home office. There are few online coin dealers more aggressive than we are. So, whether you have one coin or an entire collection, please make a point of offering your items to Rob or Robbie for their top-dollar offer. Please call our offices @ 301-724-0400, Robbie on his cell @ 301-876-1332 or Rob on his cell @ 301-724-0400. We want to hear from you.
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?
The Year in Coins - A Personal Perspective
By Rob Lehmann
December 26, 2013 - In retrospect, this has been an interesting year for the rare coin market. Metals, which dominated the conversation in 2012, were for the most part bearish this year. The additional play money created by gains realized in gold and silver was largely a non-factor in 2013. But despite this, the coin market overall, had a good year. This might have been due to the perceived improvement in the economy, the stabilization of the dollar and gains made in a rapidly rising stock market. Additionally, when feel-good areas like housing starts and retirement savings are on the rise, there is a certain confidence about diversifying some income into hobbies and alternative investments.
Two words that could characterize this year's coin market are healthy and selective, with rising prices in some areas and stabile prices in most others. In general, series that might pique a collector's interest, such as U.S. Type Coins, scarce and rare date gold and key-dates performed quite well. Conversely, generic coins, such as common-date Morgan and Peace Dollars, stagnated. Caveats evident were price sensitivity and the importance of quality. A coin that was perceived as 10% too expensive could sit for months in a dealer's inventory whereas a similar counterpart priced at the market levels would generally find an instant home.
Liquidity factors also pertained to quality. Numismatic auctions provided a good example of this. In many instances, two of the same coin, in the same grade, certified by an identical grading service, would appear simultaneously in a specific sale. Using an example of two 1884-S Morgan Dollars, both of which were graded AU-58 by PCGS, the first, an average quality piece, or acceptable for the grade, sold for $1250.00; the second, which was viewed by potential buyers as high-end, or premium quality for the assigned grade, sold for $3000.00. Although this comparison might seem extreme, similar scenarios played themselves out at virtually every coin auction. This mind-set also spilled over to the bourse floors of coin shows, where similar transactions occurred via private treaty. The rule of thumb seemed to be, if you had a nice coin, everybody wanted it. Understanding this, and how to make the distinction between ordinary and exceptional, was integral to succeeding in a numismatic marketplace that could prove otherwise challenging. But for those in the hobby that got it, 2013 offered numerous opportunities to prosper. Given the market's current momentum and direction, there is no sign that any of these driving forces should change in the upcoming year.
The Reeded Edge Launches our 3rd Annual Toys for Kids Day with The Salvation Army
December 23, 2013 - 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. December 12th'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!
July 5th, 2013 - Yesterday, I was pondering the fact that our country turned 237 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 six 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 12 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 12 years ago and Robbie Jenkins 7 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.