The Baltimore show took place this past week. It was very lightly attended. Our sales and purchases were as weak as ever. That does not reflect the market. The timing of the show was particularly unfavorable, with numerous events taking place in the surrounding area that hindered its ability to attract collectors. The Baltimore summer show has always been the weakest of the three.
Back at home, we conducted a significant amount of business. This is primarily due to an inflow of higher-quality coins. We sold a coin for nearly $250,000.00 to start the week. On the website, we also sold our 10C 1830 PCGS MS67 CAC. While at the show, we made a few larger back-home sales, including one for $160,000.00 and another for $37,500.00. It is a matter of having the “right” coins. We always tell everyone we have a huge Wanlist valued at many millions. Finding coins on that list until the beginning of June was impossible. Now that we’ve located and sold the few coins on the wishlist, we need to refocus our efforts and keep digging for fresh coins.
We need two items: WHITE STANDING QUARTERS. Both FH and PCGS-CAC are required. Need MS 65FH or better. We need dates before 1930; nothing common.
ANY PCGS CAC MS65 OR BETTER CC DMPL. The mirrors MUST be deep and free of haze. At FUN, we bought that crazy 81CC PCGS MS67+ DMPL for $228,000.00!
WE ARE STILL ON A HIGH
On Saturday, June 8th, there was a small country auction in Pennsylvania. This sale featured 17 incredible, unquestioned, fresh gold coins. The family had held each coin since its acquisition, with some acquired during the coin’s issue year. At the Baltimore Show, this event was the talk of the show among dealers. We tried to buy many of the coins, but were only able to win three of them: the $5 1800 PCGS M63 CAC and the $5 1834 PCGS AU58 (at CAC). Lastly, we bought the star of the sale—the 1852 Assay 900 PCGS MS63+ CAC.
When we first laid eyes on the slug, we did not think it was real. We’ve seen the excellent MS 65, but this coin’s charm and originality were unlike any others we’d ever seen. The family bought it from the Assay Office, according to the story. HOLEY COW! Thank goodness they stored the coins with care. The slug had gorgeous natural tones, and the rims were full and undisturbed. The reverse was PERFECT. The obverse had a few scattered ticks and light hairlines. In our opinion, this coin, along with its story, was priceless. After grading the coin, PCGS published an article in their May/June market report. The coin now resides in a new home with other rarities. Before the sale, the family expressed their concern that these coins would find excellent homes. I reassuringly told the auction house that the Slug had found the ultimate home for many decades to come.
In any market, when a fresh deal such as this emerges, the coins consistently fetch prices that surpass the market. Every coin included in this sale achieved this goal. We were aggressive in everything we went after. You must pay exorbitant prices for coins that are difficult to replace, fresh, and possess exceptional visual appeal, as many of these 17 coins did.
At the Baltimore show, many dealers stopped by to chat about the sale and “the coin.” We were still riding high after the entire experience. Even the venue was interesting. And our favorite was that dogs were allowed at the sale!
Until the coin finds its way to the new owner, we get to marvel at “the coin” daily in awe. We consider this a once-in-a-lifetime coin!
NEWPS
Ah, back to the issues that torture us. At the show, we bought a whopping two coins. One of these is the 1C 1894 PCGS MS66RD. The darn thing looks as fresh and new as a Lincoln coming off the dies! The other coin might be a coin of the week.
As we mentioned so many times, Legend NEEDS TO BUY COINS, or we can take them on consignment. We can work our magic on them, as one customer said.
Stay tuned; we have some amazing coins going to be for sale shortly, including a SUPERB GEM Proof Shield 5C set, a SUPERB GEM PROOF Liberty Nickel set, and in early July, a top-proof Barber Quarter set. We’re currently accepting want lists for these coins. Again,stay tuned! We’re likely going to start with the Shield set.
GOLD
We are back to being bullish on gold. It’s stable, and the premiums are still insanely low. It’s still near impossible to buy PCGS CAC generics, especially MS65 and higher. Call or email us with your want list for generic gold. We can handle most precious metals. Currently, we are securing a $200,000.00 platinum deal for a customer!
IF YOU HAVE ANY QUESTIONS PLEASE EMAIL US. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
