KIND OF A DRAG
This week the market slowed. We think the protests and some uncertainty play a big part. But those seem to be coming to an end. Plus, the pesky stock market got a lot of attention from investors as it went on a tear. Face it, the stock market is like legialized gambling. People get clobbered and swear it off. People see a herd running up prices and they are in! Until the next schelacking.
Plus, the Heritage FUN Sale really did not have a lot in it and prices were not strong. But PCGS CAC coins for the most part out performed all others (we should know, we were under bidders on many coins).
We are confident this week was just blip. We need to keep finding and offering fresh exciting coins. Interesting coins are still selling well. Gold coins especially. We still tell you, if you see a great coin, do no think too hard, buy it! It is NOT the top of the market and you won’t regret it.
YOU CAN MAKE A LOT OF MONEY IN COINS
The secret sauces: Buy the best quality you can afford and hold long term. Sorry to say long term, but that is and what coins have always been about. If you can’t do that, buy stocks.
We went to a long time customers safety deposit box this week. We were blown away by his coins. He did not do a huge fancy collection. He just bought really nice coins about 10-15 years ago.
He had a GEM group of 1881S PCGS MS65 and MS66 DMPL’s. WOW! These were fully black and white ultra clean GEMS. We remember he paid really strong for them then, and today he just shook his head at every profit offer we gave which in many cases was at least 2 1/2 to triple of what he paid!
He had a partial Commem set. WOW, WOW, WOW. His Oregon is a 1937-D PCGS MS68 that will grade at least MS68+ and has some of the most outrageous colors we’ve ever seen. We offered $10,000.00 and he passed. He was not being greedy, he was really holding the coins for his kids. We did walk away with a coin or two tho.
Yes, you can make money with coins. You do not have to be a billionaire. You just have to buy right and hold. We sold him handpicked HIGH END coins. He understood to pay the price. Now, he can sit back and enjoy the profits-pretty much in ANY market cycle. This is NOT a one off situation.
It does not really work today to rush building a set then selling it. Some times you can catch a wave up as markets are cyclical. Buying a coin in 2016 is NOT holding for a long time at all. But if you buy really the right quality and eye appeal and hold a little longer then that, a coin really becomes fresh again after 5-6 years. We can NOT stress enough the importance of freshness.
This is our day job and we have a deep passion to build great collections that last the test of time and yield great profits (which we clearly have). Talk to us about your goals and what you want to build. You do not even have to do a collection. The Type coins this person had were all premo too. We snagged two of them. Always remember, to make money in coins , its about each coin, the quality, eye appeal-and freshness!
GOLD
Ooops. Bad week for gold. Came down pretty hard. Look like with employment rising gold will be in bearish country for a while. At some point we believe it will rise again. The Government just can’t keep printing money and borrowing. Buy on the down swing!
Better gold is still where its at in terms of demand. We suggest building a Gold Type set, this way you can decided what you want in it and you have a representative of each series. Or just buy cool pieces. There are many ways to play owning gold.
NEWPS
What an amazing small group of NEWPS we have. Unlike others, we won’t buy to buy or have dozens/hundreds of NEWPS. Our coins are hand selected for their outstanding quality and eye appeal.
Highlights include:
1C 1811 PCGS MS65 RD CAC One of the greatest Large Cents that exists!
20C 1876 PCGS PR64+ CAMEO CAC Super pretty!
$1 1878 REV 78 PCGS MS65+ DMPL CAC WOW!
$3 1863 PCGS MS66+ CAC PHENOMENAL EVERYTHING!
We always try and have an offering for everyone. We really feel this is a great offering!
We invite you to check out our regular inventory. We have many really great coins at great value prices right now. We’ll work hard to get you in the coin of your desires.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
A preliminary listing of our July Regency Sale is now posted. We will be updating it and adding more information next week.
This is a really amazing sale. Check it out! Within the first 24 hours of posting the coins, we have thousands of views already! We expect really strong action in the sale.
Remember, we are a full service auction company and we get some of the highest prices in the biz because of that. Add the fact that Legend Numismatic buyers love the auctions too!
Any questions please call the auction people at: 732-935-1168. Work out your needs now!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY MORNING.
