We sold many smaller coins Monday and Tuesday. We wish we could have spent a million dollars at CSNS on coins like the 50C 1937 PCGS PR67 CAC or the 25C 1891 CACG MS 66 that never made our web site.The life at price levels below $10,000.00 is at unheard of strength. The deep black hole as we call it is deeper than anything outter space can create. We are in awe. Unfortunately, we are not equipped to handle what it really takes to be a money maker with the lesser value coins (we still try to handle as many as we can). It takes a lot of labor. Also, we just can not buy enough. In a few cases its pricing, however even worse, most of it being sucked up by 2-3 huge players in the space.
The past week was not typical for us. On Wednesday, things exploded. We did several hundred thousand dollars in biz with several people. If you notice, our beloved $1 1795 3LVS PCGS AU58 CAC is gone. Our $10 1912 PCGS MS 66 CAC Half Dome coin was shipped out within minutes of its listing. It was like between noon and 3 people were buying all kinds of bigger coins. Just like early last week when we had a $400G spurt in a few hours that Monday, we had another spurt yesterday. Strange how there are no more even flowing sales weeks. At least we can say sales are strong and people are definitely buying a lot more than gold!
It is Legends’ firm belief that with the stock market wavering and people unsure about so many things, they are seeking alternatives like hard assets and coin collecting. We KNOW there are more new people than ever in the hobby now trying to build different collections. Some are just buying because they think certain coins are cool. And they are right. After all, how cool is it to hold say an 1812 50C in GEM? Or a GEM DMPL Morgan? We had shown 2 GEM PCGS MS 65 CAC Saints to someone in the office next door-BOOM! He had to own them. They made the guy smile because he thought they were so cool. He loves them and now wants to buy more. He also believes they are hedges since they are gold. Regular people are becoming “hooked” collectors.
GOLD
What goes up MUST come down. We see gold correcting to maybe $3,000.00 or so before it begins its next rise. You just can’t have something w/a monster run up not correct. It doesn’t matter than this was all over CNBC :
Next stop for gold is $4,000, says JPMorgan
Published Tue, Apr 22 202511:00 AM EDT
That statement was all nice to dream about. The market reality is there clearly is a correction due and gold is dropping off its runup highs. What does that mean for Saints and generics? Not much. The premiums for them had collapsed so bad they were non-existent. We know we are going to reenter the MS 65 Saint market. We saw that people were uncomfortable w/MS 65 Saints at $4,000.00. We get it and we agree. We like them below that. And we do think gold will hit $4,000.00 within a year or so too.
Keep buying GEM Saints MS 65 and MS 66 (MS really have not moved and we think they are UNDERvalued). Also, build Type sets or do small gold projects. The demand for gold coins is and always has been widespread.
Are there any of you who care to take some profits with your Saints? Even though we are telling people to buy them, we know people have different situations and maybe want money for other things.
You can always call or email us to discuss anything gold or any questions in general.
NEWPS
We want everyone to know we work so hard to buy great coins. Our problem is that great coins are so limited in availability. Since we won’t stock junk or anything w/a problem, our NEWPS are always abit lighter these days. .
You’ll love every coin in our NEWPS this week as much as we do.
EVERY coin would pretty much be in someone else’s highlight box.
We have an 10C 1860 PCGS PR68 CAM CAC Simspon that is visually intoxicating! It is also an old friend that has been off the market for a very long time.
The $1 1884-O PCGS MS66+ CAC which is amnster, has been away since at least 2017.
Look! We have a Proof tougher gold Dollar in GEM.
The $5 1891-CC stood out in a box that someone else was looking at! We hoped the guy did not buy it so we could! We never see them so semi prooflike.
All the other coins we posted are just terrific!
We price our coins based upon what we paid. Do know many coins (especially below $10,000.00) it seems most of the price guides are way behind. It’s very difficult in many cases even for us to know exactly what some coins are worth. The days of buying coins cheaply are over! We fight hard to buy right!
IF YOU HAVE COINS TO SELL PLEASE EMAIL OR CALL US; legend@legendcoincom
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER EMAIL IS. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY-WHICH MAYBE TOO LATE!
