THE ENERGIZER BUNNY IS ALIVE
This is early September, a time when we might expect to be wondering how we will cover our ANA Show/Auction purchases and whether anyone will ever want to buy again. Nope! This is the new, active September of 2025!
Coins are selling, with activity naturally leaning toward gold coins. We know of one dealer who last week flipped a million dollars’ worth of generic coins (most were non-CAC). We also got a report from our “super-secret seller” at the Nashville show that he had done $200,000.00 in a single day, with more people to see—far more than he expected to sell during the entire show! Of course, this was the one time we didn’t send him any coins…
It is obvious: demand is clearly outshining supply. On the bourse floor, prices have moved up in most areas, especially for gold. Even lagging segments are starting to see new life. Every day, we get frustrated phone calls from dealers about the price guides and how inaccurate they are. Legend has a very strong opinion that if we are paying for a service that reports prices, we should not have to stop our day and send them the prices of what we just bought.
Know that if coins trade on the floor, the listed prices will not change unless dealers report them. Price guides need reporters on the floor who watch and listen. We may be headed into a huge bull market, and many collectors without access to what we dealers can see may be hesitant to buy, thinking someone is quoting them too much. Do note that the more prices rise, the less dealers like us can make due to the pricing issue (we use close markups anyway). We still recommend you work with a dealer who can guide you through it all. Auctions are a great source of price information; however, you have to understand the quality of the coin that sold.
Legend strives to buy coins within tolerable standards. Recently, we paid $19,500.00 for a coin where the price guide (CU) listed it at $14,000.00. Our customer paid $21,000.00. Are they “buried”? Heck no. The guide is grossly incorrect, especially when a similar coin last sold in 2010 for $15,000.00. You could not find another coin equal to it, and our customers had been looking for years. This is the reality of the market. Right now, it would be unfortunate for someone to miss the many opportunities this market offers.
GOLD
Our favorite “hedgie” called us up in a tizzy the other day, boasting about gold running to $4,000.00 soon. We don’t bet against him. He blurted out that he was going to buy a lot of gold bullion right now (of course, he still buys rare gold coins). We have heard the $4,000.00 figure from other big investors, too. Here is an interesting fact we saw on CNBC: Harvard’s endowment has bought some $200 million in gold and Bitcoin ETFs.
We are still bullish on most generics (we prefer Saints). There are not many PCGS CAC MS 65 and higher Saints around. Even non-CAC pieces are hard to find, as people seem to be buying in bulk.
COINS IN IRAs?
We read that alternative assets are going to be allowed back into IRAs. We wonder if that will include rare coins. Back around 1981, they were allowed. That could really send coin prices into the stratosphere! We’ll be watching for this. No matter what, 2025 is the year of valuable assets!
Visit Us at Tables [1105-1107-1206] during the GACC Chicago Show, September 24–26th
NEWPS
Our ANA Newps are starting to trickle out. Highlights include:
50C 1853 A/R PCGS MS65 CAC
$5 1862 PCGS AU53 CAC
$10 1869-S PCGS AU55 CAC
$20 1928 PCGS MS67 CAC
We are especially proud of how many coins priced under $10,000.00 we have in our Newps. Every coin is hand-selected for its outstanding qualities and eye appeal.
Don’t forget to look for “Box of 20” on the bottom of a coin description if the price is below $10,000.00! Those are coins we consider worthy of putting away.
Our offices are closed on Friday. We do check our emails daily. We do not check our phone messages until 9 a.m. Monday.
