NO NEED TO HYPE ANYTHING
Do you think a 25C 1927S PCGS MS65 + FH CAC selling for $610,000.00 or a GEM $10 1933 PCGS MS65 CAC bringing an astonishing $1,586,000.00 is hype? No, this is reality. These two coins brought beyond Pluto numbers at auction this past week. Strong sales weren’t limited to the expensive coins. Anyone who participated in the sale left feeling hurt. We had broken ribs (a joke)!
Sad to say, Legend UNDERBID $2,500,000.00+ worth of coins. UNDERBID. Yes, we are LOSERS and could not sleep that night! We held the $1,100,000.00 bid for the 1933 until a few hours before the sale. We had hope. Then the reality of the auction set in as the live sale began and the price climbed to $1,300,000.00 hammer! Collectors undoubtedly want and need better coins to finish their collections. It was a deafening sound as coin after coin flashed the fair warning sign only to be extended over and over. One coin showed ten fair warning signs!
After the CSNS show and the fog from it cleared (we were working with six-figure coins), we found even fewer coins under $10,000 available. How can that happen when there were none to begin with? Simple, none were found, but no one knew where to buy nice pieces through their sources. We desperately needed the $2.50 1928 PCGS MS65 CAC for two months. We had several major buyers looking for us. In the end, , we had to pay a record price for one. Hard to believe, one has never sold via auction while CAC has beaned 44 of them. That is how dry the market is.
We are lucky. Collectors are taking notice. We are traveling this week to pick up two really big collections. It’s been a long time since we’ve had to do this. They aren’t collections; rather, they are accumulations from major collections being pruned. The timing is perfect for them.
It is important to remind people that while the market is very strong, it is selectively strong. And if you bought a coin in the last few years, you may not be making money. If you want something that rises that quickly, buy stocks. Generally, most really nice coins perform well in markets like this. However, if you purchased the coin in the past few years and had to stretch and pay a high price, you probably are NOT making money. Do not worry, ALL great coins DO have their day at a quicker pace than most other coins. With rare coins, it can take time. If you bought at auction, it can be even tougher. Prices realized can work against you. Plus, the underbidders could have very likely moved on. Therefore, your ability to make a strong return may not immediately happen. Seeking short-term profits (just a few years) can be very hit or miss. The price of a coin does not matter these days either.
GOLD
Our Wall Street friends are still highly bullish on the price of gold rising. We understand the price of gold is slumping only because Turkey and now Russia are selling. Once they are done, gold should steadily rise again. There is no promise.
It is our strong opinion that it is still a great time to build a gold type set or even better: a box of 20. At least these can be completed without paying record auction prices! We suggest people buy more PCGS CAC Saints MS65/66+ if you can find them. We LOVE MS 66+ because the next step up costs $50,000.00!
You can call or email us to discuss how to collect in this market.
NEWPS
After all the crying about no coins priced below $10,000.00 being around, 12 of our NEWPS are just that! Getting them was a struggle. We predict, next show, poof gone! You saw how many coins are gone from our website after CSNS.
This week’s offering did not compromise on quality or visual appeal. Whew! Check out the great coins now posted. Highlights include:
50C 1893 PCGS PR67+ CAMEO CAC YOUNG-DAKOTA
$1 1795 3 LEAVES PCGS AU55 CAC.
$1 1880 TRADE PCGS PR67+ CAC EX SIMPSON.
You can’t beat the quality or eye appeal of any of our NEWPS.
We didn’t become a PCGS HALL OF FAME DEALER or this year’s ANA Dealer of the Year by selling junk or providing poor service. You can trust us!
Call or email us if you have any questions.
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