Wednesday, April 28, 2010

Product Updates

Hi all, I have returned after a nice vacation and am ready to get blogging!

Product Availability Updates:

  • After a few days of having no 2010 Silver Eagles, we have been able to restock! We have a pretty good supply now, so please don't hesitate to come in and pick up all that you need.
  • The next presidential dollar will be Franklin Pierce and they will be available toward the end of next month.
  • Stay tuned about the availability of National Parks Quarters. There is still a possibility that we may be able to get our hands on a small amount of them, so keep your fingers crossed!
As for specials, we still have a couple of Carson City GSA Morgan Dollars available downstairs. Check out an earlier blog to learn about the history of these coins!

Come in and see us soon!


Tuesday, April 20, 2010

National Coin Week!

Just a reminder that this week is national coin week and we are offering 15% off and double tickets on all supplies in celebration! Come in and stock up on all of your supplies!


New Gold Price Breaks!

Current Spot Prices as of 4:20 pm
Silver: 17.93 +.20 Gold: 1141.40 +6.20 Platinum: 1717 +20.40

Hello all. I hope everyone had a good weekend and thank you for bearing with us as we closed on Saturday.

Now, I'd like to announce Monarch's new Gold Price Breaks! Purchase 20 ounces or more and receive an extra $3 off per coin! This means that it will be $6 per coin cheaper than buying 1-9 ounces.

Hurry in and get some GSA Morgan Dollars on special while they last! Read last week's post about their history.


Friday, April 16, 2010

General Services Administration Dollars (GSAs)

First, please remember that we will be closed tomorrow, Saturday 17, due to extreme market fluctuations and the market being closed.

Current spot prices as of 3:30 pm:
Silver 17.77 Gold 1137.70 Platinum: 1695

Today I will be highlighting GSA Dollars; their history and their present day importance are of great interest to many collectors. The history of these dollars and their packaging is quite complex and filled with public controversy. This is one of my favorite coin-related moments in history, and makes for a great story. We are offering some GSA Carson City Morgan Dollars for a special sale price and you can find them in our specials case downstairs!

The story begins with the minting of the Morgan Dollar, which was generally unpopular amongst the public. People were not really willing to carry around these dollar coins on account of their size and weight, so many of the Morgan Dollars minted were put in bags and shipped directly to the US Treasury, where they were held until 1964. It was at this point that the government began liquidating their silver dollars to the public in exchange for Silver Certificate Dollar Bills. During this exchange it was discovered that many Morgan Dollars that had been previously assumed to be rare, such as the 1903-O, were not actually rare at all. In fact, there were many 1903-O dollars being held in the Treasury! This new release of Morgan Dollars forced the coin industry to completely re-think its pricing structure in relation to Morgan Dollars.

After this month-long program closed, the Treasury still was holding thousands of bags of coins. It was at that point that the government decided to transfer custody of the coins to the U.S. General Services Administration (GSA). It was then that the GSA decided to package the remaining Morgan Dollars, which happened to mostly be Carson City Mints, and sell them using an auction format in 1979.

After all of this commotion, many of these GSA dollars reached the hands of coin dealers. Most of these dealers broke a great many of these dollars out of their GSA holders, as the holders did not add any extra value at the time. Many more were broken out so that the dollars could be sent in to PCGS or NGC, grading companies that opened shortly after the GSA dollars were released. This explains why the remaining supply of Morgan Dollars in their original GSA Holders is special and more difficult to find.

Some GSA Dollars have come to carry quite a premium if they are in their original boxes. One such coin, the 1890-CC, was once owned by Monarch Coin. Our very own President, Paul, distinctly remembers cracking an 1890-CC Morgan Dollar out of its GSA Holder, which turned out to be a $1,000 mistake!

Don’t forget to come by and check out our inventory of GSA Morgan Dollars! You can find a more complete account of the GSA Dollar history here.


Closing Saturday!

Spots as of 11:45 am
Silver 17.68 -.74 Gold 1135.90 -23.80 Platinum 1693 -33.30

Due to very extreme market fluctuations today, we will not be able to open tomorrow, Saturday 17.

We apologize for the inconvenience and hope to see you today or Tuesday!


Tuesday, April 13, 2010

National Coin Week! Other Product Updates

For our first special announcement on this blog, we would like to highlight National Coin Week! Monarch will be celebrating next week, April 20-24. We are celebrating by offering our customers a 10% discount on all supplies! Also, for every supply purchase, customers will receive double tickets! There will be a lot of new specials out for this week and it should be fun. Make sure you come in and see us for this week-long event!

As for product updates, we have the 2010 Proof Presidential Dollar Sets and they sell for $22 each. I have looked at these sets and they are quite attractive. The set includes the Abraham Lincoln Proof Dollar which is very well done.

For those who have not heard, we have the 2010 Silver Eagles available. Thanks everyone for being patient while we worked to get those in.


Welcome to Our Blog

Hello all, and welcome to our new blog! We are very excited to be launching this site. It will be a great way for us to communicate with you and for you to communicate with us! We will be using this blog to announce new products, specials, and other numismatic news and we hope that it will be a great success!

Leave us a comment to let us know that you stopped by! Whether your comments be good or bad, we will get back to you promptly. Also, you may use this website to ask questions.