NOTHING ON FIRE
This week only the temperatures were hot. The coin market finally settled down to a more summer doldrums attitude. However, there still clearly was a pulse of activity.
Our activity is still off the charts for July. On the 15th we had broken $2 million in sales for the month (we would have been happy with less). This week, we did manage to sell three six figure coins (one our fav 10C 1827 PCGS PCGS PR66 CAC) and several five figure coins. In fact last Saturday night the 1873CC + 1876CC PCGS MS64 Trade Dollars zoomed off the web site within hours of being posted. We had a very successful weekend selling from our web site too.
Save for the gold market, we are not expecting anything major hot activity until ANA. Should a big deal break of courser that will change things.
We do not currently see any movement over all in prices as they seem stable.
SNEAKERS!
What? Sotheys is holding some sort of sneaker auction/sale. Yes, the Sothebys. https://www.yahoo.com/lifestyle/sotheby-stadium-goods-sell-sneaker-124726770.html
If sneakers are really coming of age as a true collectable, then our market is grossly UNDERvalued.
We can buy gorgeous top GEM coins for UNDER $10,000.00 many well over 100 years old. For $160,000.00 (the same value as the most expensive sneaker in the offering), you can buy an exceedingly rare gold coins (pop 1’s) that are well over 150 years old in the finest of conditions.
Just think of all the GEM Proof Barber coinage in outstanding conditions you can buy for UNDER $5,000.00 today all with mintages of LESS then 1000. Sneakers certainly make rare coins look dirt cheap-which in many cases today, rare coins are.
GOLD
Its creeping up! before you know it the spot gold could be closer to $1,500.00. With Iran messing around in the Gulf and other world problems, gold is starting to show its luster. Even major hedge fund gurus are telling people to buy gold (many of them that we actually know already own a lot). No one knows where it will go, but the gold bugs are not the only ones bullish. We have seen a small uptick in collectors buying gold.
We sell only PCGS CAC gold to collectors. We assure you, go to a major show like ANA, you won’t see much offered graded by both. At the recent FUN Show, the big wholesalers were looking to buy better gold coins. Time to buy is now if anything is available.
Lower grade generics are still floundering, although things like MS66 Saints or MS 65 $20 Libs are no where to be found. If you an stomach it, you can buy things like MS61 Saints and Libs for virtually spot-but those are horrible looking coins. We recommend gold bars.
If you don’t want a box of 20 or a specialized collection of gold, simply build a Type set. It can then include anything you want for a series. Keep in mind, the market is not as small as it used to be. With a blink of an eye demand for gold can tremendously exceed all supply-which we are near now anyway.
NEWPS
We have a really neat group of NEWPS this week. The highlights include:
3CS 1851 PCGS MS67+ CAC TIED FOR FINEST
$1 1876 TRADE PCGS MS65+ CAC
$10 1912 PCGS MS65+ CAC
We did our best to assemble a selection to fit every ones tastes and budgets. We still can’t find many of the series we desire to offer.
Do not forget to check out our regular inventory as well. We have many coins we’ll work extra hard to get you in. Now is the time!
ACCEPTING WANT LISTS FOR BUFFALO NICKELS 1913-1920 PCGS ONLY AND PCGS CAC.
ALL NEWPS WILL BE POSTED BY NOON SATURDAY.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Start thinking fast! We are fulling up for our big September Auction taking place September 26th at the Bellagio in Las Vegas.
If you have coins to consign, we re not kidding when we say space is filling up really fast and we have limited openings. We MUST have all consignments in house by August 9th. We can take a few late exceptions until Thursday ANA-but we must have advance notice.
Contact our consignment coordinators to discuss how we can maximize selling your collection!
Julie Abrams: julie@legenduactions.com
jessica berkman: jessica@legendauctions.com
Greg Cohen: greg@legendauctions.com
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT ANSWER OUR PHONE MESSAGES UNTIL 9 AM MONDAY
