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.

on Monday, 13 March 2017 01:45. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

  March 2017 Issue

A Newsletter By:

 

The Rosen Numismatic Advisory:
The Question & Answer That Was Not Published

Answers By Warren Mills


Thank you for the positive feedback from our last newsletter.  Any comments are appreciated.  Please find the freewheel subject from the last question that Maurice Rosen did not put in the newsletter.  Again, I’m not 100% positive about this technique or what exactly is being done, but I had a number of dealers bring it up to me totally unsolicited!  It’s scary if true.  Since we are blessed with some clients that trust us with a lot of money to find the best and most original coins possible, I hope the grading services will scrutinize these expensive coins from past auctions to see if they match up.
 
It wasn’t that long ago that people thought model putty on coins was no big deal.  Then it dried out and left a horrible haze on the coin.  Who knows what can happen to coins in the future!

on Tuesday, 31 January 2017 18:55. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

  February 2017 Issue

A Newsletter By:

The Rosen Numismatic Advisory:
The 2017/2018 Crystal Ball Survey, Part-2

Answers By Warren Mills


Please find in this month’s issue, my responses to the questions from Part-2 of the 2017/2018 Rosen Numismatic Advisory’s Crystal Ball Survey.  The 2nd part of the survey gets a bit more in-depth about specific areas of interest that the panel feels are good buys in different series.
 
As I did last month, I will include the specific questions I was asked and my responses.  The other panel members included John Albanese, Don Ketterling, Rick Snow, John Feigenbaum and Scott Travers.  If you would like to see their responses, feel free to contact Maurice Rosen at the phone or address provided.
 
I want to thank Maurice for asking me to participate in the survey and also for giving me permission to print my responses for our clients and friends to see.
 
At the very end of the survey, Maurice asks us to ad lib on any subject that we feel is important in the numismatic field.  I noticed that this year, Maurice did not print anyone’s ad lib responses.  Well, I did respond and it may be very controversial.  I am weighing whether I should run my ad lib in our March Issue.  I will mull it over in February.  I think you will find it most interesting.

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