Every major coin dealer we know is today working with a highly depleted inventory. We have been telling you how low our inventory has been for months—we just saw the numbers. Legends inventory was higher in 1997 when Bruce Morelan (TD) became our partner. 1997, or 29 years ago! We are in complete shock! There seems to be very little we can do today other than appeal to our customers. This is a once-in-a-generational experience.
HELLO EVERYONE! Have great coins to sell? We are paying top dollar in the new market! We’d LOVE to buy back old friends.
An apology to everyone we deal with. You’ll notice our descriptions are not as vibrant or full as usual. We were slammed beyond what we could handle all week. Between shipping out dozens of packages, the auction, answering tons of emails, etc., there just was not enough time in the day to do everything. While we have had similar circumstances before, it’s never been this crazy.
ONE OF THE MARKET’S BIGGEST PROBLEMS
How do we know what to pay? Unquestionably the market is super strong in a way that has not been seen in years. ALL THE MAJOR PRICE GUIDES ARE BEHIND OR ARE INCORRECT. Every dealer (including us) is buying based on our knowledge or guts. It’s an impossible situation because if you’re too low, there are people behind you ready to buy. Have not seen anything like it in 30 years. Do know this is NOT in all areas. Copper and Nickel are still a bit weak. Although things that are highly collectable, like Indian Cents or Buffalo Nickels, are strong.
Using auction prices helps a little. You have to know, though, if the coin is HIGH END or not.
All we can say is if you see a coin you want or need, do NOT think too long and just pay the price. Cheap buyers will lose big in this market. The fact that there are no shows until a small St. Louis show in mid-Feb and that dealers need to restock badly means prices are NOT going down any time soon.
We can help you navigate the market. Call or email us.
GOLD
FINALLY. Iran has calmed down, and oil has calmed down. And gold has too. Silver, in our opinion, is due for a HUGE correction. We doubt it will hit $100.00. If it does, we expect a HUGE dip immediately after, and then it will drift down. Silver jumped up way too fast. When oil hit $100.00 a few years ago, it was because one trader wanted his grandkids to know he wrote the contract. We think a similar circumstance will happen in silver. Our Wall Street buds think silver should be $50-$60, if ever. It’s funny; they are all still bullish on gold and feel $5,000.00 is coming by June.
No one can predict the exact roof on all this. We strongly advise taking some profits. Heck, when gold was $3,750.00, we thought that was crazy. You can only imagine what we think at today’s prices—everything is crazier.
TAKE A PROFIT on some coins, bullion, or whatever. SELL YOUR DUPES. Take our word on it, you want to have immediate funds for when that special coin pops up—or you won’t even be offered it. Take our word on it, even among dealers, if you don’t write an immediate check, you are not being offered coins.
NEWPS
The few NEWPS we have are now posted. There are a few wicked nice Gold $1 and these highlights:
50C 1864 PCGS MS67 CAC
$1 1892 PCGS PR67 CAMEO CAC
G $1 1883 PCGS MS 67 PL CAC
We are working on a few small deals with customers. Hopefully one will come through. Every day we are calling dealers to see what they have. It’s really desperate out there. Watch for prices of really nice coins to skyrocket shortly!
Descriptions of the gold dollars will be posted Friday. Do not wait! We assure you each coin is really awesome!
HAVE COINS TO SELL? EMAIL OR CALL US : legend@legendcoin.com
A REMINDER: OUR OFFICES ARE CLOSED FRIDAYS; HOWEVER, WE ANSWER EMAILS FREQUENTLY EVERY DAY. WE DO NOT CHECK FOR PHONE MESSAGES UNTIL 9 AM MONDAYS
