The market is still strong. We sold a bunch of coins this week. Here are a few that never made our website: 1C 1914 PCGS PR67 RD CAC, 5C 1927-S PCGS MS65+ CAC, $1 1864 PCGS MS65+ CAC, and $20 1909/8 PCGS MS65+ CAC. These never made it to our website; they are the only coins we can mention. Finding similar coins today is impossible. Going to shows is really a waste. If you buy dreck or cheap coins, you’re in heaven with what’s available.
As we said before, we think gold will now remain in range. Due to rising inflation, gold could drop below $5,000.00 and remain there for a while (we do not think by much). It’s a fluid situation with everything going on. Much remains to be seen in the markets. Our Wall Street contacts remain very bullish on gold. We can firmly state one thing: hard assets remain in high demand. The supply of quality hard assets is lower than it’s ever been. That suggests strong future potential. We are currently seeing low supply vs. high demand in the rare coin market right now.
DON’T BE FOOLED
Because few truly high-quality coins are on the market, do not get tricked into buying a lesser coin being pushed as a good one. Every day we hear from dealers who should know better: “Oh, I have a really nice coin.” We ask: Is it CAC? We hear their voices deflate because they know the game is up. Most dealers just want to sell you a coin and do not care.
As we mentioned in last week’s report, it’s almost like scraping the bottom of the barrel with the quality that is readily available. The really good coins are in very strong hands; we know firsthand how impossible they are to get. So you’re left with mostly dreck. There will be rare, non-CAC opportunities, but many are not likely.
Even if a coin is offered at too good of a price, do not be fooled. We have a rule: cheap is not cheap enough. If you notice, many NON-CAC coins have drifted down in value, even in this hotter market. This is why we prefer to deal in CAC beaned coins. Do not believe that paying more hurts. It’s about the product you buy. Which is better to buy? A used Ford Pinto from a roadside dealer with a slick website, or a used Bentley from a world-famous dealer with a sterling reputation? You know what we mean.
How to navigate the dreck and work with a good dealer? Simply look at what they sell. How many of their coins are CAC? If a coin isn’t CAC, are they willing to send it in for you without adding to the price? Or will they tell you if a coin has been sent to CAC? Do their coins look attractive? There are many red flags you can spot just using common sense. Last, in this market, why wouldn’t anyone with a brain send a coin to CAC if they want to sell it? Look at the strong premium the coin will command.
NEWPS
We have a group of really nice coins to offer this week. The majority are below $10,000.00! Each coin was handpicked for its quality and eye appeal.
Note: We no longer accept credit cards for Buy It Now purchases. You can call us if you wish to pay that way. New customers must provide known dealer references.
OUR OFFICES ARE CLOSED FRIDAYS; HOWEVER, WE DO ANSWER OUR EMAILS DAILY. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAYS
