GENERIC GOLD SALES ADD UP
Within the past 2 weeks, we have sold well over $300,000.00 in generic MS64 Saints. Something we have NEVER expected. Now we see buyers spilling over to all better gold. Ugh oh. Those coins were impossible to replace prior to gold rise, now if demand seriously picks up-PRICES WILL RISE. We dread pricing/shopping for better gold at the Baltimore show.
Another thing we have been told by 2 major dealers is that they have seen people selling their bullion and are starting to buy things like generic 64 & 65 Saints because of the low premiums. We do agree that the premiums are crazy low. For a while you could by PCGS NO CAC MS64 Saints for only 6.5% ABOVE gold spot.
The overall market is quiet. This always happens before a major show. There are two major shows back to back the Winter ANA National Money Show this week, and the Whitman Expo in Baltimore next week. Legend had to cancel ANA because of the weather. We can’t imagine too many West Coast dealers attending Baltimore because the ANA show was closer to them. There are also two major auctions following the Baltimore show next week. Having a spate of activity like this always bolsters the coin market. There were no shows or major auctions since January. For the record, we kept telling people it was the BEST time to buy!
If a great coin pops up today at a slightly higher price, you still have to buy it. Great coins simply are not around at almost any price!
In our opinion gold bullion is not done at all. It simply rose too fast. The common belief is it will hit $2,300.00 by mid year.
DO NOT JUMP THE GUN BUYING
Lately, for some reason we have seen a few collectors buy coins that have problems because either they bought them too cheap or they were desperate for the coin to “fill a hole”. DO NOT DO THAT! unless a coin is like the $1 1901 PCGS MS66. We sold the Cornet example, it knocked on 66 door. It was upgraded from a 65 and sold for 66 money anyway. Stay away from truly BAD coins. You are far better off having “a hole” than putting a BAD coin in it.
Now, if you really want CAC, know that any seller is going to send a coin in because they will get more money for it! So don’t think you can buy a coin cheap out of an auction or privately and then get it beaned. Many auction houses do send collections and coins in for the bean. In this quality driven market, you need to step up for the better coins. In the end, they are worth it. Simpson’s collection is a great example.
This is why a collector really needs to develop a good relationship with a dealer. In the long run, they WILL save you money and stop you from buying bad coins. Let the dealer be your eyes-it really works!
NEWPS
It’s VERY difficult to buy great coins. This week, we have a very nice offering. Our two favorite coins :
5C 1912-S PCGS MS66 CAC A TREMENDOUSLY undervalued date and grade
$1 1800 CACG XF 45+ A GEM XF with color!
Of course we have many other wonderful coins posted.
Always check out our inventory, as we have many great coins listed. We do not sell dreck!
We might be slightly late in posting our NEWPS as we will be attending the Baltimore show. Yes! We WILL be buying there. Please show us what you have.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US
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