on Tuesday, 23 April 2019 15:24. Posted in News

Over 150 Years Of Combined Numismatic Experience At Your Disposal.

  Spring of 2019 Issue

Welcome to a New Issue of The Rare Coin Enthusiast
by Warren Mills

As a follow up to our last Enthusiast, we are contacting our clients to have them consider sending many of their old purchases from us to CAC.  If the economic justification is there to pay the small fee and shipping, it’s a no brainer.  Our most recent results for our last three customers were 8 for 11, 9 for 11 and 3 for 3.  I know it’s only 80%, but that is way above the industry average by about double!  One of the coins became the one and only top pop gold piece for the grade!  It is now a Pop 1 with none finer for CAC and only a pop of 2 at PCGS with none finer.  The 5 coins that did not work out were nice original pieces, but the toning was a little deep.  Overall, we had a happy group of customers that added many thousands of dollars to the value of their coins, increased their demand dramatically and also their liquidity!  When you factor in the CAC fees and a modest shipping charge, the 11 coin submissions in total were less than $200 and the 3 coin submission was well under $100.  And all 3 of the coins on that submission were nice gold coins.  The bottom line is if you are remotely contemplating selling at some point or want to get things in order for your heirs, send you coins to CAC or leave specific instructions to do so.

on Tuesday, 12 March 2019 13:34. Posted in News

by Warren Mills

I really enjoy going to the Baltimore Show.  This spring event is normally later in March, so it was a surprise to walk to the convention center on Friday in about 2 to 3 inches of snow.  The climate was cold and so was the retail traffic!  Thursday retail was quiet and so was Friday.  However, the dealer to dealer business was good.  Flight schedules changed coming out of Manchester, so I arrived on Wednesday, later than normal.  I went to the hotel to see where everyone was set up and found out that rooms were reserved for dealers at the convention center.
 
When I arrived at the convention center, activity was brisk.  I didn’t get to see everyone I wanted to, but the pre-show buying was good.  Most of the dealers I spoke with are starting the year on a good note, with a lot of client interest.  I was hoping that the prior day was going to be a harbinger for the show itself, but I was wrong!  I was able to acquire about half of what I was hoping to spend.  What a disappointment!  There just wasn’t enough nice material to consider for acquisition.  Low-end to marginal graded coins are everywhere.  I feel this will only get worse.  If you are hoping to acquire nice coins in the future, get on your horse now and start working.  I’m still seeing people getting sucked in to paying gigantic premiums for auction coins, that in many instances the same quality could be purchased on the bourse floor for half the price.  However, there are truly exceptional coins that come up in auctions that you may never see again.  To those that know what they want and have the money to spend, I salute you!

on Thursday, 24 January 2019 17:19. Posted in News

Dave and I flew out to Orlando on Tuesday, January 8th for the sunny climes of Florida.  Although our winter has been mild, 70 degree temperatures are a nice change.  We started out on Tuesday morning looking for show rooms where dealers were offering their wares.  The show didn’t start until 2:00 Wednesday, so it gave me plenty of time to look at dealer stock and check out auction lots for customers.  The pickings were slim for true premium quality coins, but we managed to turn over enough rocks to find a handful of nice pieces.  We have about 60 new purchases for your perusal.  They are typical soup to nuts offers.  The one consistent is that they truly are premium examples for the grade.
 
We like to offer free services to our customers as a thank you.  So I spent a few hours viewing auction lots and giving my opinion.  Unfortunately, this is the first time that I viewed lots and could not recommend one single piece that I was asked to view for our clients to bid on.  This also included CAC coins!  Don’t get me wrong, this auction had great coins in it and many fetched record prices, however, none of the lots I reviewed were close to being worthy of my stamp of approval.  I always try to employ technical strictness for grade and eye-appeal for any coins I recommend.  I’ve been at this game now for over 40 years, so I’m not about to change. 

on Thursday, 17 January 2019 14:37. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

  January 2019 Issue


Let’s Keep the Success Rolling for 2019!

by Warren Mills

Welcome to the first Rare Coin Enthusiast of 2019.  I want to thank all of our friends that have trusted us over the years.  We’ve always done our best to earn that trust by supplying the best quality coins for the grade that we could find, our CAC results for our customers certainly proves that.  It also shows how many pretenders are out there reading labels and selling average to below average coins for the grade to their customers.  We are recommending that all of our customers send any coins that they’ve acquired from us for a few hundred bucks or more into CAC, while other dealers are falling all over themselves to discourage clients from sending past purchases into CAC.  The 20-40% success rate they have for their clients shows what pretenders they are.  Though we can say that we only average 80+% for our customers, that’s still a huge percentage more than the average.  That means that four out of five pieces we’ve sold over the years garner a CAC sticker!  Not bad, considering the average dealer’s percentage is 40%.

on Wednesday, 07 November 2018 15:45. Posted in News

by Warren Mills

The Baltimore Show was a little early this year, hosted in October instead of November.  The spring and fall shows usually attract more dealers to the convention than the summer.  So I was hoping for an influx of many fresh coins than the June show due to the larger bourse.  The amount of coins was not the problem; it was the lack of high-end, nice pieces for the grade that gets tiring to see.  It’s never easy to find great material unless a collection drops into your lap.  So you put your head down and go on the hunt. 

I was able to fill coins for some of our trusting want list friends.  As for finding regular inventory coins, I came home with a yawning total of 20 pieces.  I hope I never get to the point where I compromise my standards just to sell something.  There were the scattered offerings of CAC pieces here and there, but they were few and far between.  Unfortunately many of the larger collectors are holding CAC coins for themselves and not offering them for sale at the shows.  I feel that if you are acquiring coins worth $1,000 on up, it makes no sense to settle for a marginal piece when a CAC sticker will afford you more liquidity and desirability.   I know human nature dictates to find the bargain basement deal, but the compromise may cost a lot more in the long run.  However, choose all of your coins wisely.  I’ve seen many CAC coins that are undeserving of the sticker. 

Prior to the show a dealer ordered 3 coins from our inventory to hopefully sell in Baltimore.  I asked him how our coins did for him and he said on the first day that dealers came around to the tables, they sold first thing.  Keep in mind, these knowledgeable dealers were willing to pay more than our retail price to acquire these coins for their customers!  That right there is a statement about RCNH.

A few dealers came up to me at the show and asked for my opinion on coins they either bought or were considering.  I am always happy to help dealers or collectors in any way I can.  So if you see me at a show or would like to bring in or send something to our office, please always feel free to.

A very knowledgeable and longtime dealer approached me at the show with an interesting concept.  He said that he thought that PCGS and NGC should do away with the Pop reports!  The average buyer does not realize that resubmissions could throw off the ability to determine true value.  One coin he mentioned to me was a piece with a PCGS Pop of 8.  A scarce coin, but he knows that that coin was resubmitted at least 6 times, so it is rarer than people really know.  His feeling was that why should information be disclosed that a novice could use when it’s taken him 40 years to learn what he knows now.  I understand his thoughts, but a truly knowledgeable buyer is always the best buyer in my book.  It is great if they pursue the hobby and learn that high-end coins command nice premiums, and that strike, toning, luster and minimal abrasion along with eye-appeal can greatly influence pricing.  Seeing numbers in print is helpful, but having a truly superb coin in hand can have a large influence on the price.

Attendance was marginal with no real buzz to the floor but, I left on Friday.  Others told me that the public made a good showing on Saturday and some excellent coins found new homes.  This is a period of getting while the getting is good.  If this market can get off the mat and move up, prices could escalate in a hurry.


Good hunting,

Warren

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