Wow, I am so far out of touch with coins…a field I love and yet I have no clue! I am sad to finally come to this realization. Here’s how things have unfolded in the last couple of weeks. Dave in our office has a client that purchased a raw 1899 Morgan Dollar in V.G. We offered him an MS-64 PCGS for $100 more than he paid for the V.G. (a fair price at the time) I said, “Return the V.G. and get a much nicer coin for $100 more.” He kept the V.G. instead. Now, will it ever be a better value than an MS-64 PCGS for $100 more? This is the type of buyer that is frustrating to me.
RCNH personnel instrumental in the recovery of money for coin fraud victims!
NCA RECOVERS MORE THAN $1 MILLION FOR BUYERS OF OVERPRICED COINS
By CoinWeek on February 7, 2012 5:11 PM
The Numismatic Consumer Alliance, Inc. (NCA) helped recover more than $1.1 million in the last eight months of 2011 for victims of unscrupulous coin sales, according to John Albanese, founder and president of the not-for-profit watchdog organization.
Is this a harbinger of things to come?
States consider alternative currencies of gold and silver
By Blake Ellis | CNNMoney.com
A growing number of states are seeking shiny new currencies made of silver and gold.
Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option. Just three years ago, only three states had similar proposals in place.
This year’s FUN show was well, fun and interesting. For the first time in 5 years I attended the show in place of Warren who could not make it. I went armed with a folder full of want lists from novice as well as sophisticated collectors ready to purchase anything that met our needs. Warren also instructed me to buy anything else that was original and met our strict criteria for grading. With that I trotted off like a 10 year old to summer camp and returned like someone that had survived a week at football camp, battered and bruised but happy I went.
Chicago ANA 8/15-8/20/11
The ANA was well attended and twice the size of last year’s Boston ANA. We had a good table location and there was a lot of foot traffic. Some record prices were set in the auctions with pretty toned commems causing double takes. Witness an Alabama 50c with wonderful color and graded MS-65 that brought $28,750 to a dealer! I just wish that auction buyers attended the show. I believe many of them overpaid dramatically and were caught up in auction fever. In my opinion, a tough lesson will be learned.