We are living through some unprecedented, and very uncertain, times. Although the root cause of this is new to us all (COVID-19), the volatility resulting from it, is not. People and markets have a symbiotic relationship which makes perfect sense, since one comprises the other. When people hit the panic switch, markets react. It is people that drive markets, which is a concept that’s easy to forget. This holds especially true when the markets head south. For that fleeting moment in history, the markets seem like some entity that’s bigger than us all. They are not. In fact, they are us all; the markets are merely an assemblage of individuals deciding where the appropriate level is to buy and sell products, services, financial instruments and commodities. But, I digress. The over-correction that we are experiencing is probably a bi-product of fully valued markets that were ripe for a correction, combined with a damn good catalyst to trigger it. The last time we saw this happen, AIG and the collapse of the housing markets were the root cause. Before that, it was inflationary interest rates and the Iranian oil embargo. The Reeded Edge was here for them both (although The Reeded Edge was not yet our namesake in 1979). Ironically, these events all occurred at approximately 20 year intervals. So were we due? From a timeline perspective, the answer is “probably yes”. History aside, we are dealing with what could be the third major economic downturn during my life in the coin business. The cause is definitely different, but the collateral damage is only too familiar. Obviously any future impact of COVID-19 will be directly correlated to its infection rate, response efforts, and ultimately, its cure. Presently, these are all unknowns, as is the long term prognosis for the effects to the markets. Alluding back to my previous statement, markets are assemblages of people driving buy and sell prices. Without people, we have no markets. It’s a pretty simple concept. Protecting people, despite the temporary inconveniences and discomfort to do so, needs to remain our government’s priority. Throughout this adversity, calmness and normalcy must prevail. Although all of our lives at some level, have been disrupted, I will not allow circumstances to derail our routine at The Reeded Edge. I may have to modify certain aspects, especially with the cancellation of many of our upcoming coin shows. The basic premise of what we do is to buy and sell rare coins and collectibles. I assure you, that won’t change! In the immediate future, we will transact our business over the internet, phone, through the mail, and office appointments. Travel will obviously play a lesser role. Fortunately, I have been through this before, and we will weather the storm. My suggestion for our customers is to spend more time at home, and perhaps, focus on your collection until the air clears (both figuratively and literally). If you’re anything like me, your hobby is personal therapy. I can assure you, through firsthand experience, a hobby can provide a needed distraction to get you through some very difficult times. As the old saying goes, the beat will go on. If there is anything that I or any of us here at The Reeded Edge can do to make your current situation a little more comfortable, please let me know. You are our Job One, and we remain here to serve you. Most importantly, stay healthy and safe.  -Rob Lehmann, The Reeded Edge, Inc