VISIT US AT THE ANA SHOW TABLES 912-914.
WE WILL BE CLOSED THE ENTIRE WEEK OF AUGUST 24TH TO ATTEND THE ANA SHOW.
Too bad we did not have a crystal ball. If we had, we would have stretched and purchased every nice and eye-appealing PCGS CAC or CACG coin we could have—especially gold. Even if we paid 10-25% too much, it would not have hurt us. Today, pulling teeth is easier than finding nice coins. And to think, we thought the market was dry of great coins then. That deep black hole is so deep these days even NASA and old Elon couldn’t make rockets powerful enough to get to the bottom of the hole.
DARN THE PRICE GUIDES
There is simply way too much BIG money chasing too few coins. This is most evident in the auctions. On the bourse floor, we dealers have a serious issue because of the LAME price guides. They are of no help whatsoever, and they all (save for CU) refuse to hire reporters to follow prices. Years ago the late Keith Zaner, who worked for CDN, would call us every Monday after a show. And that’s after he was at the show. Today, these price guides have to wait for auction results or for someone to make a bid—really (think that’s a crime, especially since you are paying for the information)? Make a bid on a wildly colored coin or a coin that appears once every few years? Come on! Or if a coin was a POS, then the prices come down if it is sold cheaply in an auction. We also see these days some prices coming down for no reason. Because of this, many people are missing out on buying coins. They (like us dealers sometimes) have no clue what a certain coin is worth. All we know is that supply is as limited as ever today; if you have a really nice coin you think you paid too much for, it will sell to some of these newer collectors. The good news is they are collectors, not speculators like we have seen years ago. We know of at least 5 people who want to build serious GEM Saint sets. Good luck to us, them, and everyone! We even have an order for 4-5 PCGS CAC MS66-67 High Reliefs. You know we’re not paying anywhere near the published prices for those. And finding really nice coins UNDER $5,000.00—why even bother?
How does Legend figure coin values? We have 40 years of experience being in the trenches of trading. We deal wholesale and retail, and we rank among the biggest buyers at auctions. We pretty much know who needs what and how many they need. Auctions are our first go-to. We have an edge; we know the coins. But we can see ranges as to where and when similar coins have traded. Then we usually waste our time looking at the sheets and online price guides. (Still have to check) Collectors Universe is our next go-to. It’s not easy for us, either, to figure out coins today. We have to make a living, so we have to be right 99% of the time.
Basically, the rant above is meant to say: if you see a really nice PCGS CAC coin and the price guide shows $5,000.00, but it’s $6,250.00, BUY IT. If you don’t, someone else behind you will. The price guides in so many cases are way behind. We’re nervous, as always, about how we will do at ANA, but with the dream lineup of buyers (starting Saturday)—both dealers and collectors—we expect to see that we very well could go home with empty boxes and very few NEWPS.
FINAL CALL FOR COINS FOR ANA. ALL COINS MUST BE IN OUR OFFICES BY THIS UPCOMING WEDNESDAY—NOT A DAY LATER.
If you are attending the ANA show and have coins to sell, make sure to see us. We will top any legitimate offer on coins on our Want Lists (which now way exceed $20 million dollars again).
A WORD OF ADVICE
If you buy Proof or proof-like coins, avoid hazy mirrors. You want coins that really pop with clear, deep, and flashy mirrors. And with DMPL’s avoid shallow mirrored, boldly contrasting coins. Even if the coins have a very low population. We do not see coins like those seriously appreciating.
NEWPS
First we must mention: the coins we posted as COW, sold within MINUTES! One was a $1 1858 PCGS PR65 DC CAC, and the other was a $10 1848-O PCGS MS62 CAC. Those were not cheap coins. Of course there is no way we could replace them today, so do not think too hard on these NEWPS or anything posted on our website.
Highlights include:
1C 1861 PCGS MS66+ CAC
$5 1871-CC PCGS AU 50 CAC
$5 1910-D PCGS MS65+ CAC HALF DOME
We could not find all that many NEWPS—and we need to keep our powder dry for ANA.
THE COLLECTION OF A LIFETIME IS ALIVE!
We will have a few sets ready for the ANA show. Stop by to see those sets and the rest of our great PCGS CAC inventory.
We expect to have the final group, 1892-1915, ready for the Chicago Show at the end of September. Stay tuned!
WE WILL NOT BE POSTING NEWPS AGAIN UNTIL SATURDAY, AUGUST 29TH.
OUR OFFICES ARE CLOSED FRIDAYS. EMAIL US. WE CHECK OUR EMAIL DAILY. WE DO NOT CHECK PHONE MESSAGES UNTIL 9 AM MONDAYS.
