Chris Whiddon, a Sr. Account Manager at 1st American Reserve, has been with the company for 20 years and has a computer information systems degree from Lamar University, which he earned while also working at Sears Inc. He is married and he and his wife have a son.
During November, the U.S. Mint sold 4,805,000 one-ounce Silver American Eagle coins, more than 10 times the 463,000 coins sold in November 2019, bringing the year-to-date totals to almost a 100% gain (29.3 million ounces vs. 14.8 million last year). Gold American Eagle sales were up 673% in November, with 85,000 Troy ounces sold vs. 11,000 in November 2019 that brought the 2020 11-month total up to over 5-fold from 2019 (794,500 Troy ounces in the first 11 months of 2020 vs. 150,000 ounces in 2019). The Buffalo Gold coin sales were also up strongly, +370% for November and +286% for the year-to-date
We have been telling you about a wide array of changes coming in U.S. coins. First, we heard about the new Morgan and Peace dollars probably coming in 2021 to mark the centennial of the final Morgan dollar year and first Peace dollar year. Then we heard about a new change in the American Eagle reverse designs in 2021. These new coin issues next year will create great interest in old and new collectors and in precious metals in general, with new ads posted in the media, generating new customers and new national interest.
I think it is time for you to get to Know the “Team Mike” Professionals at 1st American Reserve who work with Dr. Mike Fuljenz, America’s Gold Expert®.
Robert Patton, Manager of 1st American Reserve, has worked there for almost three decades. Working that long with a company is quite astounding these days. Robert is also, very much a family man who has been blessed with a wife and five children – two sons and three daughters. His favorite hobbies include cooking and hunting, sometimes combined by camping with his family. He has been a Boys Haven Board Member in Beraumont, Texas for many years and has volunteered in support of many of his children’s activities.
Just a reminder. Every week, 1st American Reserve gets a few new rarities in our “Project 2020” campaign for the finest rare coin collectibles. Call your experienced “Team Mike” representative for a description of our quickly changing inventory of classic American gold and silver coins, but you must act fast. As a mentor of mine used to say, there is a difference between a “fast” rabbit and a “dead” rabbit. When gems come into our inventory, they tend to move fast. That’s why you want to be a fast rabbit in fast-changing markets.
We make our selection of “Project 2020” coins based on several factors, including sheer beauty, historical importance, popularity and low population capitalization (a coin’s value times the numbers of coins seen). We’re finding that these coins are becoming tougher and more costly to buy, since the market for many gold coins priced under $10,000 is rising. Civil War-dated and Carson City-minted coins are especially in high demand. Over the last few months, we have posted over $2 million in new bids, higher than any other dealer, on hundreds of different coins in our attempt to acquire the finest specimens of lower-mintage, low-population $10 and $25 Gold American Eagles, $2.50, $3.00, $5.00 and $10.00 Indians, Type II and Type III Liberty Gold, and the best classic Commemorative halves.
Although our bids on these coins are still rising, we continue to invest in these coins because we believe they are still underpriced relative to their population capitalization. In the process of accumulating these coins, we scrutinize each coin very carefully. We never sacrifice in our quest for top quality. We buy only hand-selected, top-quality specimens. That is why you should only buy rare coins from well-recognized experts. Each coin should have good eye appeal. When you see these coins, you will know what I mean. Each is a classic piece of American history. Owning these coins is like holding history in your hands.
Update on Project 2020 – Our Targeted Plan for Stockpiling Tomorrow’s Winners Today
1st American Reserve has been trying to “quietly” assemble an inventory of what we think will be tomorrow’s top rare coin winners – based on several factors, including sheer beauty, historical importance, popularity and low population capitalization (that’s a coin’s value multiplied by the number of coins in a specific grade). We’re finding that it’s becoming harder to acquire rare coins quietly, as these coins are becoming tougher and more costly to buy.
The market for many gold coins priced under $10,000 is definitely rising! Civil War-dated and Carson City-minted coins are in especially high demand. Over the last few months, we have posted over $2 million in higher bids (above any other dealer’s bids) on hundreds of different coins in our attempt to corner the finest specimens of lower-mintage, low-population $10 and $25 Gold American Eagles, $2.50, $3.00, $5.00 and $10.00 Indians, Type II and Type III Liberty Gold, and the best classic Commemorative halves. But even our higher bids are attracting fewer and fewer offers!
Although 1st American Reserve's bids on many of these coins are consistently rising, we continue to invest in these coins because we believe they are still underpriced relative to their population capitalization. In the process of accumulating these coins, we scrutinize each coin very carefully. We never sacrifice in our quest for top quality. We buy only hand-selected, top-quality specimens. That is why you should only buy rare coins from well-recognized experts. Each coin should have good eye appeal. When you see these coins, you will understand what I mean. Each coin is a classic piece of American history. Owning these coins is like holding history in your hands.
Call your Team Mike representative for a description of our fresh and quickly changing inventory of classic American gold and silver coins, but you must act quickly. As a numismatic mentor of mine used to say, there is a difference between a “fast” rabbit and a “dead” rabbit. When gems come into our inventory, they tend to move fast. That’s when you want to be a fast rabbit.
Surges in the price of gold have made the commodity seem like an attractive alternative to more volatile markets. 1st American Reserve wants you to know that while there are many reputable dealers in gold, this market’s desirability and investment potential makes it vulnerable to fraudulent business practices.
If you have been thinking about buying or selling rare coins or bullion products containing precious metal, Dr. Fuljenz, 1st American Reserve Numismatic Consultant, has three words for you: research, research, research. Before entering into a transaction, you need to research the background of the coin dealer including how long they have been in business and their Better Business Bureau (BBB) rating. You should also independently verify the dealer’s membership and status in leading industry organizations like being a Numismatic Guaranty Corporation Authorized Dealer. It is a good sign if the dealer has won any industry awards or served on any industry boards. This advice applies to all transactions whether done by phone, in person, online or by mail.
Here are some tips to avoid becoming a victim of fraud:
During this unprecedented pandemic, counterfeiters and fraudsters have been very quick to capitalize on the fear and anxieties of victims and adapt their modus operandi to seize upon criminal opportunities during this crisis. The number of counterfeit reports and fraud schemes have continued to increase. Factors that have prompted this increase include high demand for coins and precious metals, decreased mobility, the public staying at home teleworking, increased on-line buying, internet exploration, and decreased supply of products. The criminal threat related to counterfeit rare coins and even precious metal bullion remains dynamic and new or adapted types of criminal activities will continue to emerge during the crisis and in its aftermath. 1st American Reserve wants to help you buy genuine silver and gold coins, safely and without the risk of being duped by counterfeits. Our numismatic consultant, Dr. Mike Fuljenz, sits on the board of the Anti-Counterfeiting Task Force, which has identified more than 100-plus websites selling counterfeit coins and precious metals. “In the past year, I have reviewed several customers’ coin collections and sadly detected one or more counterfeit coins,” Fuljenz said. “In one instance, the majority of one person’s collection consisted of counterfeit-proof American Buffalo one-ounce gold coins, with all coins appearing in what looked like genuine NGC holders. The holders themselves were also fraudulent. Many of these counterfeits seem to have been, ‘Made in China.’ “Other collectors I have helped, had counterfeit American Gold Eagle coins, as well as, counterfeit Morgan, Peace, and Trade Dollars purportedly made from silver. Metals composition testing revealed they were made of copper, nickel, zinc, tungsten or other inferior metals. Some counterfeit Trade Dollars were easily spotted because there were no dates used when Trade Dollars were minted. This caused them to ring at a very high pitch versus the sound of a real silver dollar when tapped with a pen.” As part of 1st American Reserve’s commitment to its customers and the public, as a whole, we want to remind you to be sure you know who you are buying your coins and precious metals from. Make sure they are BBB accredited, have affiliations with industry trade groups and contribute to the numismatic industry through publications, philanthropy and by giving their time to help others. “Does the dealer you are considering have a long-term track record of honest dealing – a reputation that must be maintained by continuing to deal with honesty and integrity? These are the instructions I provided to the Attorney General of Texas when I helped him with is Gold Coin Consumer Protection Alert. And these are the same qualities that make fee confident about being chosen as the numismatic consultant for 1st American Reserve.”