on Thursday, 06 July 2017 01:16. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

  July 2017 Issue

A Newsletter By:

 

July 2017 Issue

By Warren Mills

 
Ah, summertime… but the livin’ ain’t easy for a coin dealer.  However, it’s a great time for an astute buyer.  Long Beach was two weeks ago and it was very slow, with limited availability for nice coins.  It’s the same old song and dance… get the music theme to this article!  Now is the time to play this up to your advantage.  When the market is slower and thoughts are diverted to summer vacations and/or travel or just the temperature outside, it’s a big buying opportunity. If you see a nice coin, don’t hesitate to buy it now. 
 
I can’t remember the last time this happened, but on June 19th, we added 25 new nice coins to our inventory.  As soon as they came up on our site, a dealer bought eight of them at our full asking price!  This is a reflection of two things.  First, the market is starving for fresh original coins.  Second, when the price is fair and the coins are nice, don’t let a great piece pass you buy!  A knowledgeable buyer will always be there and have an interest in a great coin.

on Tuesday, 06 June 2017 01:16. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

  June 2017 Issue

A Newsletter By:

 

THINK LONG TERM

By Warren Mills


The Pogue sales have ended.  What a collection of numismatic treasures.  When it was done, over $106.5 million of coins crossed the auction block.  Keep in mind, that does not include two pieces that the family decided to keep that would have pushed the total to over $120 million.  Wow, it shows that top quality for the grade and wholesomeness still rule the day among knowledgeable buyers.

There are lessons here to be learned for all collectors of rare coins.  The following is a list any buyer of coins should consider.  These are listed in no particular order, but try to focus on all of them at some point.

on Tuesday, 02 May 2017 00:28. Posted in News

  May 2017 Issue

A Newsletter By:
Rare Coins of New Hampshire's Logo

Some Thoughts From Warren

By Warren Mills

Protecting the interests of our clients sometimes costs us money!  I know as a business person, you may read this and be skeptical. I’ll give you an example in a moment.

First, I would like to recommend that you read Joe Presti’s excellent article about consigning a collection to a local auction.  The job of the auction house is to acquire consignments to keep the lights on, I get it. They can also give an added incentive by agreeing to rebate some of the commissions or include the nicer coins in a more prominent sale.  Recently, a large well established auction house succeeded in getting a nice collection for one of their sales.  Good for them.  However, it was not all good for the consignor.  Why have collectors consign certified bullion coins to an auction?  After commissions and fees, the consignors usually receive 15-20% below melt!  I feel these firms should have a sense of obligation to tell customers to sell the graded bullion coins outright instead of increasing the commission to the auction house by selling them in an auction.

on Thursday, 06 April 2017 22:45. Posted in News

Thankfully, I made it back from harm, I mean charm city!  It was a nice flight into Baltimore but I had to return in a snow storm.  Overall, it was a show of promise.  Many more dealers than usual were looking to aggressively buy coins!  That’s a complete change of attitude from the last few years.  The show itself didn’t start until Thursday but right out of the chute on Tuesday, dealers started buying…and I mean heavy.  It carried over to Wednesday and by the time the show started on Thursday, everything fresh was gone!

If I may give our clients a tip, usually dealers start to buy and store up nice inventory months in advance before the average retail customer.  So if you see a coin you want or need, get it now.  Chances are it will be more expensive later.

We didn’t light the world on fire but we did buy some nice pieces.  Our inventory will probably be updated on Monday.  If you are looking for something specific, call us ASAP.  We may have it and it may not make it to Monday to list in inventory.  I was able to buy a handful of nice “want list” pieces and I did help a few clients by grading their collections for them at the show.  I am always happy to help anyone that needs it at a show.  Please ask ahead of time and if I’m attending the show you are going to, I’ll be happy to meet with you.  There was a fairly good attendance at the show but most customers kept their hands in their pockets.  The majority of business was dealer to dealer and it was strong!  I bought about 20 non-CAC coins and sent them to CAC.

The Blue Moon Collection was sold in Baltimore at auction and did very well.  Once again, the focus on original coins from that collection proved that untampered with, strictly graded coins rule the day.  It’s been that way for a long time.  However, many original coins that dealers buy don’t stay that way for long!  If it’s a clean coin, it will be dipped and resubbed.  I wish CAC would change their stance of stickering dipped coins.  It just encourages the practice and hurts the stewardship in the industry.

I was looking at a dealer’s inventory and a retail dealer sat down beside me and asked if the dealer whose inventory I was viewing brought any boxes of off-quality over-graded slabs that he could buy cheap and sell expensively!  Unfortunately, many dealers have that attitude.  We, at RCNH, would rather buy and sell top quality right off the bat.  We want to appeal to the most knowledgeable buyers in the industry so our clients, upon liquidating, have the best chance at making money.  Not educating or fooling a customer is not right but it’s a common practice.

It would be nice to see an uptick in prices.  It’s been a long time.  I’m hoping that with the last Pogue sale being finished in Baltimore, that there will be discretionary income entering the market and not being saved for a big auction event.  Great auctions are few and far between usually, but the last few years have seen some of the greatest collections ever assembled enter the marketplace.  Now may be the time when collectors re-liquefy themselves and a market uptick follows.

Our new newsletter is on our site.  Please check it out and let me know if there is anything you’d like me to address.  We will have a new Coin World and Numismatic News ad in the Central States editions.

 

Thank you.

Warren

on Tuesday, 04 April 2017 14:08. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

  April 2017 Issue

A Newsletter By:

"Want Lists"

Answers By Warren Mills


It’s hard to believe that another month has come and gone.  When you read this issue, I’ll have returned from the Baltimore Show.  My hopes are that we will have some nice new purchases for your perusal.  When I go to a show, I am always on the lookout for nice “want list” coins as well as just conservatively graded pieces to add to our regular inventory.  Unfortunately, there are less and less conservatively graded coins on the market.  As the cream gets skimmed from the top, the solid and high-end examples are the first pieces to find new homes.  It’s an exercise in futility to constantly have to search through low-end and over-graded coins that remain in the market for a long time, but it is now the nature of the beast.   The hope is always to be diligent and wade through the commercial fodder for the odd high-end pieces, and that’s what I do at every show.

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