on Wednesday, 07 October 2015 15:24. Posted in News

Over 200 Years of Combined Numismatic Experience at Your Disposal.

  October 2015 Issue
A Newsletter By:
Rare Coins of New Hampshire's Logo
By Warren Mills

It was the best of times that led to the worst of times.  The major coin boom of 1979 and 1980 was a tremendous time to be in the business.  Coins were appreciating dramatically and bullion was adding fuel to the fire.  Three Cent Nickels in Proof-65 went from $300+ to $3,500.  It was a time of plenty.
Then came the crash.  Unfortunately, 35 years have passed, so I don’t exactly recall the time and dates.  I believe it was April of 1980.  I just remember it was a major coin show and, all of a sudden, trading virtually stopped.  It was as if someone had thrown a switch.  If people were trading, it was at 20% to 25% lower levels, and this all occurred within a matter of minutes.  The owner of the company for which I worked looked like a cast member of “The Walking Dead”.  You have a 7-figure inventory and the market is sliding dramatically.  In a matter of days, your value is cut in half and your liquidity is still compromised.
Desperate times call for desperate measures, so the management team thought it would be better to hire experienced salesmen and eliminate true numismatists that knew grading and had a conscience.  The problem with this strategy is that commission-driven salesmen will sell the product, but they have no true loyalty to the customer or industry.  Sure, you can optimistically grade all your coins, but your reputation will be gashed on two fronts:  poor quality and the potential for misrepresentation of false guarantees by the salesmen… a double whack for the customer. 
I read the writing on the wall in 1981 and moved on to greener pastures.  From here, Mills Numismatics was launched.  Next time, I’ll bring you to the crossroad of deciding to stay in the coin industry or to go into another field.

on Friday, 18 September 2015 17:58. Posted in News

I jumped on an early flight to Midway and made it to the opening day dealer setup before 9 am when the doors would open.  The Illinois State Convention is a smaller show, probably 100-150 tables but a nice venue with good security.   My hope was to go to a moderate size show with only a handful of national dealers showing up.  Unfortunately, the market is starving for fresh material so many of the larger dealers that I always see at the big conventions were there walking the floor.  Needless to say, there was too little material to spread among too many dealers.

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. 

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