THE YOUNG-DAKOTA AUCTION
Young-Dakota, a long-time customer of Legends, just sold their Proof Barbers 10C-50C. We assembled these sets around 2011–2015. We congratulate him on successfully selling his pride and joys. He wanted the very best sets. And we helped him achieve that. Looking at what he had, we pinch ourselves. Reassembling his sets today is near impossible! These were the first group of Barbers to appear in years. We thank Stacks for allowing the set to be sold continuously and for working with us.
Young-Dakota proved the market is starved for coins. The Dimes actually were a tad weak, the Quarters performed okay, and the Halves were the real show with huge numbers paid and a few records set. Yes, Young-Dakota did make money on his coins overall! Look what he did: he followed a simple concept—buy the very best you can afford and ensure the coin has great eye appeal and hold it for a few years. EVERY coin he had was also CAC certified. That simple.
This is proof that you can make money in coins if you work things correctly and use a good dealer (yeah, like us)! Always remember, quality eye appeal is everything! You do not make money buying the cheapest coins with little eye appeal. Those just seem to drift down. While CAC coins can cost as much as double, they are worth owning, especially when you sell.
Also a big congrats to the new owners of Young-Dakota’s coins, some of the finest Proof Barbers that exist!
THE MARKET
For summertime, the market is quite aggressive. We do not see prices as rising anymore, but we certainly do not see them falling. The App dealers definitely still need a pile of coins. We had spoken to one who is starting to develop significant new customers (people who are new to coins).
If the price guides reported prices more accurately, this market would be rising much more. Instead, in some cases, this leads to idling prices, which is harmful, especially when a coin does not appear with any frequency.
In the end, it is summertime, so there is a slight lull—but not a lull that kills this bull run we are in.
One thing we HIGHLY recommend: build a gold Type set now. By doing so today, you’re saving money vs. where generics were a month or two ago because of higher bullion. We even see a few dealers buying up generic gold and slightly better gold for themselves right now. We’re still HIGHLY bullish on gold.
NEWPS
This week we only have a tiny bit of NEWPS. Keep checking back over the next few weeks; we are currently processing many coins. We also spent a lot of money in the Stacks sale.
A note about our Collection Of A Lifetime: because many coins were graded way back when, we need to get them all to CAC. Until that work is complete (which will take a while as there are 400+ coins), the collector has asked us to refrain from any activities with the coins save for a few small singles. We expect the collection to be ready around the ANA Show.
OUR OFFICES ARE CLOSED FRIDAYS; WE DO CHECK OUR EMAILS DAILY. WE DO NOT CHECK PHONE MESSAGES UNTIL MONDAY AT 9 AM
