A STRONG MONTH

We were sort of surprised by how strong January was for us. Of course, it started with the FUN Show. As you all read, we had a strong show. Then, the following week, we had $1 million in representations at the FUN Auction. After that, we enjoyed strong sales off our website. This past Monday, we had never seen so many invoices piled so high on our shipper’s desk! And just when we thought it was going to be a quiet time, we sold one mid-five-figure coin each day this past week.

An interesting note: Now that all the FUN NEWPS have been offered by most people, we realized there really are not many coins around. Starting last Wednesday, dealers were calling around looking for coins. But they had specific lists—and luckily, we were able to fill some. In the end, it’s a HUGE sign to us about how dry the market has become so quickly after one of the biggest shows. Kind of scary if you’re a dealer.

Another note: For those of you who just do not trust what dealers make, we can state for a fact that our profit margins have shrunk so far UNDER 10%, that it’s straining us—and we are not alone. We think you will start to see coin dealers merge or start to close. You’ll see more single operators who do crackouts and sell over internet sites vs. becoming full-service dealers. The mode of operations for coin dealers is changing.

RIP Long Beach. We LOVED that show. We met many great people there and did a lot of business. Collectible shows in general may be dinosaurs too. Here is something we just read on CNBC that shocked us: It’s not just coins. Of the roughly 80,000 enthusiasts who visit Art Basel Miami Beach annually, less than 3 percent actually make a purchase.

WE NEED COINS NOW

We need many coins—of course, they are the coins that no one has. So we are turning to our customers again. Have coins you wish to sell? They do NOT need to be CAC. Just know, it’s the coins we actively need that we will make the highest offers on. And not every coin is worth more today than it was three years ago (the coin market is not like the stock market). We strive to make very fair offers on all coins.

It’s also a great time to work with us and consign coins. We have so few coins in our NEWPS piles. The exposure your coins would receive is as big as any auction house could ever offer. Our clientele is stronger than most! Plus, we take LESS time to settle, and our fees are far LESS than selling via auction! With NO major shows for at least a month, we just do not see us buying all that much. Now is the BEST time to work or sell through us. It is a win-win! If we cannot get it done, an auction company probably cannot either.

SELL YOUR BULLION AND RELATED ITEMS NOW

We are greatly disturbed by the sudden drop in premiums in certain areas. We know our bullion people are paying $35.00 behind melt for 1 oz. gold Pandas. We also heard of dealers paying $50.00 below melt on CIRC Saints—and they are melting them! Most other low-end coins, including generics, are losing even more of their already insanely cheap premiums. That does not give us a warm and fuzzy feeling, even though gold went up a bit.

We think this could be the last call for those who want to sell things like their U.S. Mint products and related items. Even though the spot is rising, the premiums are deflating fast. This is NOT a ploy; it is a fact. We certainly do not recommend this stuff even as a hedge (especially if you’re making money).

We suggest using the proceeds to buy better generics, like MS65 and MS66 Saints, PCGS CAC, and CACG, of course. Or buy rare coins (which, since November, we have had many people do). The percentage that most Mint products and a few generics will rise will now only be as much as the spot price does. We do NOT see any rise in the premiums coming—only decreases—as many dealers just do not want the stuff.

Let us know what you have. All prices are finalized once the items are in our offices.

NEWPS

We are at FUN NEWPS 2.5… Unless we can buy coins, we’ll be very dry for the next few weeks. So dry that we are contemplating closing for a week in February (undecided right now). We have a feeling we’ll be flying around visiting people.

Anyway, look at our crazy neat NEWPS for this week. Highlights include:

5C 1927-D PCGS MS65+ CAC
50C 1824 OVERDATES PCGS MS64 CAC
50C 1906-S PCGS MS67 CAC
$5 1906-D PCGS MS66+ CAC
$10 1906-D PCGS MS65 CAC
Add the $20 1906-D PCGS MS64+ CAC on our site with the $5 and $10 we have, and you can have a 1906-D Gold Set! That’s pretty cool!

Of course, all coins we offer are the best for their grades and all have great eye appeal. We will NOT sell a coin just to sell one.

With demand strong and supply weaker, if you have been watching a coin, it may not be there the next day. Now is the BEST time to make deals!

NOTE: LEGEND NOW CLOSES AT 1:00 PM ON FRIDAYS

IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US

WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY AT 9 AM.