BUY ON THE DIP – GENERICS
We warned everyone that gold could experience a significant correction. Obviously it is doing so now. How low will it go? No one knows, but many factors are causing the metal to trade below $5,000.00 for a while. We believe that once it hits its low, it should trade in the $4,500.00-$5,000.00 range (we could be wrong).
If you plan on selling now, you will get far less than you think because the market is decreasing, NOT increasing. However, if you are a forever gold bug, we strongly recommend buying on the dip. No one knows for sure what will happen even next week. In our opinion, the opportunity to buy gold at a discount seems smart. While we have no scientific information on what gold will do, we are bullish, and our Wall Street friends still are too. The only problem is the limited availability of gold to buy, especially for better Saints and generic CAC/CACG gold.
The rare coin market absolutely is NOT affected today by the gold market. We can tell you that no one has asked to hold off on or cancel their Want Lists. We spoke to our dealer buddies, and they say sales are still strong. In fact, one major dealer called us seeking better coins and spent quite a significant sum at the prices listed on our website! Add that to some lucky finds, and we had yet another strong sales week. March is such a strong month already; if we had stopped all business on the 15th (we did several million in rare coin sales), it would probably rank as one of our top 10 sales months of the decade! That says a lot. We intentionally wanted to do little to no business and were hoping to take it easy for a while, but it seems like every day now we are being surprised. Legend canceled attendance at the PCGS Invitational Show in Phoenix. Traveling right now with coins and TSA issues did not seem like the right thing to do. We assume other dealers feel the same way. If a significant deal arose, we would begrudgingly fly.
TRADES AND QUOTATIONS
Recently, some distressing situations have arisen. One in particular seems to be a little more frequent.
When we quote you a price, it’s a CASH price. Meaning you will send a check. If you accept our price, it is WRONG for you then to say, “Okay, I’ll trade.” Sometimes we take trades from people whose coins we do not really need, but we want to help them acquire one. Recently two people approached us with absurd trade prices. What the heck? Where do people get their numbers from?
The short of it is that dealers remember people who do that stuff. You won’t form healthy relationships that way. It is not healthy when someone tries hard to work with you. The lesson here is
If you need terms, state that first BEFORE you are quoted.
Do NOT accept the price if you know you want to trade. Mention that you need to trade too before you are quoted a price.
If you do have trades, be reasonable. Dealers often lose money on them. Also know that sometimes you could be buying a coin the dealer has on consignment and has zero room to negotiate.
Last, in the Legends world, if we write, “WE HAVE POSTED THIS COIN AT OUR BEST PRICE,” we really mean it. Do not offer us 10% or even 4% less (chances are we’d be losing money). We assure you, NO ONE works closer than we do!
NEWPS
Not our average NEWPS, finally! We actually found a larger group of coins to offer.
We are offering a single NON CAC coin. Do not think it will bean. But it’s one of these close calls that is priced right. It is an 1883-CC PCGS MS66 DMPL OGH! Highlights include
5C 1903 PCGS MS67+ CAC TIED FOR FINEST
10C 1910 PCGS MS68+ CAC EX BLAY
$1 1921 PEACE PCGS MS66 CAC
$5 1911-D PCGS MS 63 TOUGH DATE
$20 1907 HR WE PCGS MS64+ CAC GORGEOUS!
Other exciting, high-quality pieces are now posted.
Legend maintains one of the largest and most outstanding inventories of PCGS CAC/CACG coins in the biz. Few other dealers rival our quality. You will LOVE our coins!
Sign up for our Coin of the Week emails and other important notifications. We are excited about what we are offering next week—it’s so wicked cool!
Reminder: We no longer accept credit cards for Buy It Now purchases. If you are new to us, please call and have verifiable references ready.
LEGEND IS BUYING? WHAT DO YOU HAVE FOR SALE?
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