NO SHOWS, NO COINS?
Yes and no. We are finally starting to see a tiny drip of coins come our way from tight collectors. We picked up one deal—The Gourmet Collection—which involves coins a collector is pruning. As you can see by our NEWS postings, the coins are soup to nuts. We are preparing another collection in our offices. EVERY coin in that group will be priced below $10,000.00! We hope to have that group ready by next week.
We still are not finding the coins we badly need: better-date $10 Indian Head coins, better-date Saints, higher-grade Proof Morgans, DMPLs, and many better gold coins. We even tried to dive into the deep black hole only to be shut down by all the collectors we spoke to. You know the market is dry when dealers call you begging for coins on a daily basis. Pretty much, there are no major shows or auctions until ANA (the Baltimore summer show is very small). We are attending the PCGS Show in CA later this month, hopefully to buy. We do NOT expect any flood of coins to hit the market (although our customer Young-Dakota’s 10C-50C Barber Proofs are in the Stacks sale in June).
Dealers who don’t own stores are really feeling the pinch for coins. Without a steady flow of NEWPS, dealers (like us) can’t make money. We know of two major dealers who have built selling machines that currently can’t shake the tree enough. We can not say enough how the apps have disrupted the hobby. Try completing even a PR 65 Barber Dime set or a clear mirrored PR Walker set in 67. Good luck!
We cannot stress enough: now is the time to sell into the market. When dealers and collectors are craving it, that’s the time to part with (at the very least) your duplicates or just prune your sets. Selling when too many coins are released won’t yield you the highest prices. Novel concept: sell when the market needs coins. The flow of coins must be realistic and steady to also change the price guides. Right now, virtually all price guides are behind. The recent Heritage auction should have proved that issue. Guess collectors need to read the auction sheets before they make decisions. That is a huge risk for them. Only insiders will know for sure if the market has cooled or is still hot.
CONGRATS TO A LONG-TIME COLLECTOR CUSTOMER!
We just sold him the $2.5 1808 PCGS AU50 CAC to complete a big gold Type set he had been working on for years. That is a major accomplishment. His set is not on any registry. Every coin is PCGS CAC.
It feels really good to work with a collector for many years and then to cap off their set. We hope he enjoys his set forever. Legend thanks him for allowing us to build it with him!
NEWPS
Finally, a small trickle of coins. Besides single coins we’ve purchased, we’re adding coins from the GOURMET COLLECTION. It’s really not a collection but more of a hodgepodge the collector is pruning. There are GEM copper coins to circulate early gold. EVERY coin is PCGS and CAC. Every coin is the best quality for the grade. You will LOVE the coins!
One thing that differs Legend from all other dealers is what we sell. We call it Legend quality. We go out of our way to offer the best looks and highest quality for the grade. We pay more for our coins; however, in the end it is worth it. Many collectors find this to be totally true when they sell. Being a bottom fisher and just buying “stuff” does not make you money.
We will have more coins posted next week. Again, Gourmet is a hodgepodge of things.
A DISAPPOINTMENT: WOMEN IN NUMISMATICS
Maybe one day this will change and we will see more involvement beyond being wives or friends of collectors.
Notice there are not many women who deal in or collect coins? The negative environment has not changed in the 50 years I have been a dealer. In fact, with the new breed of dealers, things are getting harsher for women to enter.
Even with one of the greatest resumes in the entire business, I still face disrespect and poor treatment from a few collectors and even dealers. It puzzles me why some men get intimidated by a successful woman. A few think it’s a joke that they nicknamed me a b*tch. I had to be tough to survive and then thrive. Sure, there is a collector out there who feels, apparently, I can only buy or offer him cheaper coins. Only the male dealers can sell or rep bigger items apparently. Disgraceful. It’s a men’s domain in coins, and the good old boy network is thriving. Time to break it up and let the masters of the universe—women—show how good they are.
How can we change this? Encourage more girls to become collectors. See if you can get more women to engage in coin collecting. Show them it’s really not just a group of chauvinistic men. I know I am more than willing to mentor any young female numismatist. So far, I have only encountered two. I think one has moved on.
Let’s get more women positively involved in coins. Let’s stop or change the discrimination that exists!
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