WOW, has gold and silver been on a tear? There are not many roller coasters built that equal the up and down swings the prices of metals have taken in the past week or so. It has burnt us out. We question how so many people could not have seen the correction coming. Silver especially reached stratospheric highs in just days. No one who dealt in metals really understood why it exceeded $100.00. We can’t see it going back over $100.00 anytime soon.
Gold, however, is different. The number of people who contacted us wanting to buy on the dip surprised us. Our smart Wall Streeter friends are still highly bullish on gold. Our problem is that there is so little to be found. Generic Saints (at least PCGS CAC) are not available anywhere. And the premiums between 64/65 seem nonexistent. Currently, we are paying $7,250.00 for PCGS MS66+ W/M CAC Saints (price subject to change). We sell everything we get!
A correction is natural, especially when prices have done nothing but rise like they have over the past year. We still say taking some profits in generics or bullion is smart. Use the money to buy better rare coins. The rare coin market is also on the rise as demand painfully outstrips supply (we say “painfully” because we cannot buy what we need). If you want dreck, there is plenty of that to go around.
CONGRATS TO HALF DOME: ANOTHER MILESTONE REACHED
Legend Numismatic is proud to announce we put the cherry on top of the greatest $10 Indian collection ever assembled: The Half Dome Collection. We represented the collector in the Stacks sale this week. We paid a record $1,800,000.00 (all in) for the $10 1911D PCGS MS66 CAC. The coin was amazing and far superior to any other. We both felt strongly that the collection would be incomplete without the coin. For sure it is a perfect fit for the set, which includes the 1920-S PCGS MS67+ CAC and many other pop 1 finest graded pieces!
Half Dome unquestionably has the all-time FINEST PCGS CAC Twentieth Century Gold set ($2.5-$20). All coins are PCGS CAC! Yes, we paid record prices to obtain many coins. The Half Dome collector has no plans to sell his collection anytime soon because the coins are in trust for his children. His plans to be a steward for the long term will create substantially higher value for his coins. Today, his collection cannot be even closely replicated, regardless of the cost.
We thank Half Dome for allowing us to work with him and achieve his remarkable place in numismatic history. Congrats on adding the 11D $10!
NEWPS
In the next week or two you will see how hard it is to find great-looking PCGS CAC coins. Our inventory is shrinking rapidly again. In our book, listing fewer than 20 NEWPS is poor.
Understand, we could spend $1 million easily, but we would not be buying quality coins (can you say dreck?). Since we strive to deal in the top 5% of a grade, those just do not work for us. We miss many sales because we won’t compromise on quality. We ask all of our loyal customers to be patient, especially regarding coins valued UNDER $10,000.00! We are searching 24/7 for great coins for you!
OUR OFFICES ARE CLOSED FRIDAYS. WE DO NOT CHECK PHONE MESSAGES UNTIL MONDAY AT 9 AM. WE DO ALWAYS CHECK OUR EMAILS.
