on Monday, 17 December 2012 00:00. Posted in News

Metals are drafting down a bit and this trend may continue for the foreseeable future.  I attribute this to concern about the fiscal cliff and Eurozone uncertainty.  Joe and I were discussing this today and I believe that during an emergency, when liquidity becomes a concern, gold and silver will be liquidated as a last resort.  With deficit obligations closer to $90 trillion, not $16 trillion, it’s just a matter of time before the bomb drops.  Use this as a price average opportunity.

When we came back from Baltimore, I went through our retail inventory and sent in 29 coins to CAC.  Just got the results and “only” 28 of them CAC’d and not one gold sticker.  I guess I’m slipping.  I really like 19th Century Type and MS-64 or better numismatic gold at these levels.  A counterfeit bullion scare will act as catalyst for rare coins, watch for further news.



on Monday, 26 November 2012 00:00. Posted in News

We had the best Baltimore Show ever in terms of wholesale and retail sales!  Again, dominated by dealers that know coins.  Fresh original and strict grading brought dealers to our coins.  I heard it often that, “this is a Warren Mills coin,” meaning that the coin was top of the line in all ways and it continued when the public came in.  We sold some very nice coins to happy collectors.  Also, the buying was tough.  The usual commercially graded, dipped and over-graded coins were everywhere.  It was the best of times for selling and the worst of times for buying.

on Monday, 20 August 2012 00:00. Posted in News

With great anticipation, Paul and I drove off on Monday morning to Philly.  We encountered the usual traffic snarl at the G.W. Bridge in New York but the ride was not bad.  At the loading dock we were directed to where we could bring our material in.  Again, no problems.  Monday evening we met a numismatic book dealer that had received a $6,900 “move-in” bill from the union workers.  He may sell a few thousand dollars worth of books for the whole show!

on Friday, 20 July 2012 00:00. Posted in News

As a follow up to our last posting, the coins in the Land of Smiles Liberty Nickel collection did very well.  It goes to show you that top quality coins even in a quiet market do very well.  Liberty Nickels are not exactly on a runaway upward swing, however the coins in this collection were exceptional.  Of the coins in the set that did sell that we helped acquire for the set, the consignor cost was $241,902; with a price realized of $480,282.  I wish the timing of the sale of this great collection would have coincided with a market in a cyclical upswing…but it didn’t. 

on Wednesday, 11 July 2012 00:00. Posted in News

At RCNH we have ALWAYS advocated that clients should take possession of their gold and silver bullion and to even beware of using bank safe deposit boxes.

Now here is even more confirmation of what we have been saying for years.
Are Banks Raiding “Allocated” Gold Accounts?Posted on July 6, 2012 by WashingtonsBlog
Beware: “Allocated” Gold May Not Really Be There

In 2007, Morgan Stanley paid out $4.4 million to settle a class-action lawsuit by its clients after Morgan Stanley charged them to buy and “store” precious metals for them,  but neither bought or stored the metals.

(Similarly, a 2011 class-action lawsuit filed in federal court in New York accused UBS Financial Services of misleading silver investors and charging them storage fees for metal that was never actually purchased,  segregated, and stored for them.)

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