THE CORRECTION
Its so true: what goes up must come down. Gold really just kept going up and up and for the last few months. So much has been taken off the market we are now in a drought for many gold and silver items (bullion included). A correction was needed and was right.Was it too big a drop? Not really. Again, look at the aggressive nature of the beast since March.
If you notice, since the correction gold has been creeping back up. NOTHING HAS CHANGED. Its not about hard demand. The principals behind the movement-a weaker dollar, the government just printing money like crazy and borrowing too. NONE of that is going to change. We’ll probably have even more trouble once they pass the stimulus (how will it all be paid for?). Right now its a never ending drain.
Always BUY on the dip. In this case though, we so NO weakening of bids/prices. We could still use every PCGS CAC MS65+66 Saint we an get our hands on. Dealers still call us daily to ask what new gold we got in. We call around and can not find any thing decent. Save for certain generics, you are still NOT buying at record prices. BUY WHAT YOU CAN NOW (especially gold).
We are unmoved in our prediction gold will hit $2,500.00. Gold breaking $2,000.00 was no fluke as it stayed above that line for several days. We can not imagine it not creeping back up.
HARD ASSETS
Rare coins are hard assets. Its been a slow wind up, but we see collectors returning to areas other then gold. We see it in what we are selling off of our web site.
You can’t beat buying GEM Proof Barber Quarters for UNDER $4,000.00 a coin. Or a pop 1 finest known coin for UNDER $20,000.00. Even some better gold has its areas of slow growth. One by one for sure these coins are now being sought. We knew it would happen, it just took time.
In times of uncertainty, people want hard assets.
A piece of advice: We strongly suggest you look over what Type you might want. Like gold was in January, you can buy so much of it for little (like our pop 9, 10C 1916 Barber PCGS MS67 CAC). Fast forward six months, you can’t touch generic gold even at the higher prices. We do see this happening to rare coins. We’re in the quiet before the storm. LOOK AT THE POPS OF TYPE COINS-they are ridiculously low. On many coins the prices just do not make sense.
If you have a pile of dupes or stuff, trade them in and get a coin with real potential. It is our opinion that rare coins will out perform most everything else in the next year or two. The march upward is not even at the beginning yet. Why wait?
P.S. This week another game worn pair of Michael Jordan sneaks brought $615,000.00-at Christies! A Ferrari is expected to bring $4 million at auction. Coins are so cheap compared to other areas.
NEWPS
This week we have a really nice mix of coins offered. Highlights include:
1C 1858 FE LL PCGS MS66+ CAC
25C 1831 PCGS MS65+ CAC
G $1 1885 PCGS PR67+ DCAMEO CAC
Not a bad selection. We did our best as always to include something for everyone. As you all know, its not easy to find neat fresh coins with no shows. Fortunately, we have 40+ years of being in biz and making some great acquantinces along the way.
SIMPSON
No one knows the Simpson coins like we do. We want to make sure our “friends” end up in great homes.
We are available for representation. We do everything on a first come first serve basis. So if you want us to work with you, contact us now! We expect there will be record prices set and lots of bidders. You just do not see coins like what he has.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
BIDDING IS LIVE! The sale closes August 27th with alive sale in Las Vegas at the PCGS Invitational.
Check out the auction! If you have any questions, please call 732-935-1168
FINAL CALL FOR CONSIGNMENTS FOR OUR HUGE OCTOBER SALE!
Call or email today with what you have. Our Consignment coordinators will craft a plan to yield you the most money. Plus, you coins will be included in one of most anticipated HARD COVER catalogs ever!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
