on Thursday, 09 August 2018 14:02. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

  August 2018 Issue

The Summer Baltimore Show
By Warren Mills


WOW, the summer has been very busy for us!  I am thankful for being in continual catch up mode and apologetic for not getting an Enthusiast up on our site!

I went to the summer Baltimore show and it was a surprisingly good show for us.  Keep in mind that only about 2/3rds of the dealers that attend the spring and fall show come to the summer show.  Since there are fewer dealers, I can cover the show in fewer days.

I arrived in Baltimore at about 9:00 on Wednesday morning, the day before the show opened.  I hit the dealer set up at the hotel immediately.  The show came on the heels of Long Beach, so there was a lack of anything fresh.  I spent a woeful amount of money before the show and that had me worried. 
When the show opened on Thursday, I went right to my dealer friends that hold nice fresh coins for me and thankfully, I lucked out!  A few of my dealer friends saved the excellent, fresh, original, high-end coins for me.  You have to pay, but I’m happy to get the opportunity. 

on Thursday, 05 July 2018 13:36. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

  June 2018 Issue

Central States Numismatic Show
By Warren Mills

Welcome to the summer edition of The Rare Coin Enthusiast.  I’ve been remiss in putting together an issue due to planned trips and overwhelming business.  Just recently, we’ve acquired a collection with 13 large bins of mixed coinage that has taken hours just to break down a single box.  We are always thankful for any opportunity that we get, but sometimes things can get a bit frantic.

In May, I decided to take a trip out to Illinois for the Central States Numismatic Show.  I haven’t attended the Central States Show for over ten years.  My hope was to find a group of dealers from the Midwest that I may not have a relationship with and maybe find some new fresh material.  I’m glad I went, but it was the old tried and true dealers that I saw early that had the best material.  I spent more money at this show than even the F.U.N. Show!  Unfortunately, it sold very fast a
nd most of it never even made our inventory list.  Considering how hard it is to find nice fresh material, I was elated.  With diligence, the odd nice pieces are out there, just don’t expect to look at a Greysheet and figure you are going to buy primo coins without stretching.  By stretching, I mean like Gumby.

on Monday, 16 April 2018 16:11. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

The 2018 Baltimore Show
By Warren Mills

Welcome to the April issue of The Rare Coin Enthusiast.  I recently attended the Whitman Coin Show in Baltimore.  Many flights were cancelled due to inclement weather, but I was lucky enough to make it to the show.  About 15% of the dealers weren’t able to fly in, so the tables weren’t full.  I’m not sure why, but it worked as a plus it seems, because we were able to pick up a fair amount of coins.  Activity was brisk with many aggressive buyers.  If sellers were realistic with their prices, coins sold.  We filled many want lists and anything really expensive sold immediately.
 
I had about twenty-five auction lots to check for customers, to see if the coins were worthy of placing bids on.  About half of the coins were fine, with a couple of very P.Q. examples.  The coins we labeled as the choicest pieces brought incredibly strong prices.  One example that comes to mind was a very fresh, lustrous and original 1925-D Saint Gaudens in MS-64 PCGS CAC.  My bid was $23,000 plus the 20% buyer’s fee which would mean that the price to me would be $27,600.  I did not label the coin as an upgrade, but it was a very fresh and lustrous example.  Could it 64+ on its attributes?  I guess so, but it really was just a very nice 64.  I felt it was worthy of a premium bid due to the fact that a knowledgeable buyer would recognize the true value of the coin.  The Greysheet bid is $13,500, CCE high bid is $11,500, the high CAC bid is $18,000 and the PCGS Retail Price Guide is $17,000.  When you look at the numbers, it seems that $27,600 is absurd.  Then look at the CAC wholesale bid and compare it to the PCGS Retail Price Guide!  Why the discrepancy?  For the most part, the price guide reflects a coin that may be low end to average for the grade at best!  Also, certain denominations may have price guide numbers that are way too low, way too high or close to accurate numbers.  At best, you have a rough retail price for a low end coin to mid range coin.  On rarer issues, which seldom come onto the market, you have to go by your gut.  This coin was so fresh and original, but not an upgrade in my opinion, that I felt was worthy of a premium bid.  It finally sold, including the buyer’s premium, for over $32,000.  The CCE bid in MS-65 is $50,000 and the CAC bid in MS-65 is $100,000.  In this business, the most knowledgeable buyers are setting the prices.  Also, look at the differences between CAC and non-CAC issues for the same coin in the same grade!  It really is astonishing.

on Tuesday, 06 March 2018 15:30. Posted in News

  March 2018 Issue

 

How to Survive at Auction
By Warren Mills

 
Welcome to the March Edition of The Rare Coin Enthusiast.  This month I want to address the need to acquire coins from auctions.  This is my 39th year in the coin business and it is a true blessing to work at your hobby.  However, there are times when I encounter situations that can be very frustrating.  Allow me to give you a description of such a scenario.
 
We connect with a customer by phone, email, or at a show.  After pleasantries the question is, “Are you still buying coins?”  In many instances the answer is, “Yes, but I buy most of my coins in auctions now.”  I follow up with, “How come, you’ve acquired great coins from us in the past, why now mainly auctions?”  Usually it has to do with our inability to supply or find solid coins when there are tremendous amounts of marginal ones in auctions.  Auctions do have some great coins, but most are marginal at best!  Okay, I get it, but three recent encounters with clients made me see a need to address potential pitfalls here.
 
Auction houses are great at marketing their products.  Once your buying patterns are established, they email you about future lots that are coming up for sale which may be of interest to you.  This is fine if you know what you are doing.  Many buyers only have an idea of what they like.  They may have started buying coins with one or two reputable dealers, then figured out they’ll cut out the middleman and buy direct.  This is just enough knowledge to actually have a negative effect on the value of your purchases.  Here are a few examples that we recently encountered: 

on Tuesday, 06 February 2018 15:59. Posted in News

Over 200 Years Of Combined Numismatic Experience At Your Disposal.

  February 2018 Issue

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

My Responses to The 2018/2019 Crystal Ball Survey

By Warren Mills

 
Welcome to the February issue of The Rare Coin Enthusiast.  This month I have permission from Maurice Rosen to publish my answers to his probing questions about the coin market.  His newsletter, The Rosen Numismatic Advisory, is an excellent read about the numismatic and bullion markets.  Maurice picks a panel of numismatists every year that he feels has his or her finger on the pulse of the coin market.  I am honored to have been selected to give my opinions for over 10 years.  With all of the great numismatists in the country, it is a nice feeling to be regarded so highly.  His subscription information follows this article.  Also, if you have any answers that you would like me to elaborate on, feel free to call me or email me at your convenience. 
 
Thank you,
 
Warren
 
 

The Rosen Numismatic Advisory
THE 2018/2019 CRYSTAL BALL SURVEY, Parts 1 & 2
 
WELCOME TO THE FORTY-FIRST CRYSTAL BALL SURVEY!

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