on Wednesday, 02 September 2015 13:39. Posted in News

Over 200 Years of Combined Numismatic Experience at Your Disposal.

                                                    September 2015 Issue

 

My Coin Journey, Part III
By Warren Mills

I experienced my first coin market boom in 1979 and 1980.  The coin market was on fire and bullion was rising dramatically.  To have this experience at a major rare coin company was unbelievable!  The place was always hopping.  Gold went up to $850 an ounce and silver hit over $50 per ounce.  I even spoke to the Hunt Brothers on the phone when they were heavily involved in acquiring silver.  It was a great experience.  People were coming in off the street selling silverware and anything else with silver in it at a record pace.  The line was outside the building on some days and many people were also buying at a fast pace.  When folks came in and started saying “silver will crack $100 to $300 an ounce,” I knew it was time to get out of the market.  The government put the kibosh on the Hunt Brothers shot at cornering silver and the rest is history.  There is nothing like being at a big company in a booming market.  Rare coins in some instances went up over 1,000 percent. 
 
My next coin journey will be about the April 1980 crash!

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on Monday, 24 August 2015 18:21. Posted in News

Paul and I arrived as the show opened on Tuesday, August 11th.  We had to wait in line to get our dealer badge but it went smoothly and the ANA staff was very cordial and helpful.

We go to the show to try and buy coins for our inventory:  this is our number one objective.  I also like to bring some of our inventory coins for Paul to offer for sale to give us a barometer of the over-all market.  I go one way and Paul goes another.

on Tuesday, 04 August 2015 18:22. Posted in News

Over 200 Years of Combined Numismatic Experience at Your Disposal.

A Newsletter By:

August 2015 Issue

My Coin Journey – Part Two
By Warren Mills

What does it take to become a professional numismatist?
 
I was very lucky and thankful to be hired by a very prestigious rare coin firm.  It gave me the opportunity to rub elbows with some of the best U.S. coin numismatists in the world.  I knew right away that if I wanted to stay in the coin business, I had to open my mind and my eyes to learn all the nuances I could about grading.  Another important factor for learning was accessibility to a large inventory of coins.  This allowed me time to spend many hours examining coins and showing them to top notch numismatists to get their opinion as to why a coin was a certain grade and why it may not be another grade. 

on Tuesday, 28 July 2015 14:40. Posted in News

CAC

Not all coins are the same.  Line up 10 PCGS or NGC certified coins that are the same date and grade and there will be high-end coins, mid-range and low-end.  And yet they are all graded the same!  Certified Acceptance Corporation (CAC) offers a service to identify the top end of the grade spectrum by affixing a green sticker to the holder.  If they affix a gold sticker, they feel the coin is worthy of the next grade up:  i.e. an MS-65 with a gold sticker will be traded as an MS-66 grade coin.

on Wednesday, 22 July 2015 13:42. Posted in News

Well I was ready, willing but unable to attend the summer Baltimore Show.  My reservations were in but my back was out!  I enjoy the summer show because it is not as well attended so the occasional deal surfaces.  But for this one, I will never know.  I heard the show was fairly dead but one great coin can turn a tough show into a good one.

What’s going on with the metals?  This question can be answered with dealings going on in China.  Whether they sold some of their gold or purposely understated their reserves, the price has dropped.  To me it’s opportunity.  The shift of gold from West to East does not bode well for the future.  Say what you will but historically it has been said that he who owns the gold, makes the rules.  If that’s the case, I am concerned about the Reserve currency status of the U.S. dollar and the ramifications for our economy.  The economic meetings in October could be significant for the world.

Metals are dropping but premiums are escalating and there is virtually no supply of silver to be had.  This flies in the face of economic sense.  Usually prices drop when there is an over-supply.  We tried to order 2 bags of junk silver and were laughed at!  I expected maybe two weeks out for delivery but this is the first time I could not place the order.  I gave a standing order to fill on one bag when it becomes available.  The premium on early U.S. circ gold is also rising.  My question is “who’s manipulating what?”  Don’t wait too long to price average, things could get dicey fast!

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Thank you.

Warren

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