As we predicted, we sold a ton of coins at the Baltimore Show and directly afterwards. We sold all kinds of coins, not just gold. In fact we sold two big patterns in a high six figure deal. Clearly, if you browse our inventory, you can see we sold a lot of coins including many “old friends”.
Coins under $10,000.00 are screaming red hot. Seems this What’s App thing (which we do not understand) is reaching the masses and bringing more entry level people than Ebay has in a while. Ebay used to be the top place for newbies, but somehow these apps reach far more interested people. We have even heard of six figure sales from the apps. That area we call the “black hole”, is now the “deep black hole”. Forgot to mention, coin stores are doing HUGE biz. They too are bringing in new collectors. As these new people enter the market, there are so few true quality coins for them to buy. This is putting extreme stress on pricing. The pricing guides in our opinion are now inaccurate.
In the recent Stacks sale, we could not buy many coins near the published prices. It is even worse if you’re trying to buy a coin that has not appeared in a few years. It is our strong opinion, if you’re buying top pop quality coins pre 2020, throw away the price guides. Do understand many coins from the covid era are still at premium pricing-which is a little too strong for today’s market. But buying coins on the cheap is over for now. We firmly believe w/the economic madness hard assets will become in heavy demand again.
Attention gold buyers: with gold over $3,000.00, don’t you all realize all generic and semi generics will cost more? We know for the slightly better Saints (like a 10D in MS65+ and a 15S in MS 65+ we just bought and sold) we had to pay ABOVE all published levels. The price guides are behind without exception! We must mention, ALL levels of gold are costing more-especially AU Bust Gold!
We are trying to tell collectors, if you buy nicer coins, even though the price guides do not reflect it, prices HAVE gone up (in most areas-NOT all). We assure you, because of this, we try to keep things reasonable and our margins are as squeezed as ever. This is where the market is today. That is why, at dealer fest (pre Baltimore) we were able to sell six figures worth of coins (from $900.00-$75,000.00) at our FULL asking prices!
NUMISMATICS IS FAR MORE THAN JUST THE COINS THEMSELVES
Legend Numismatics was honored to be part of a long journey between a father and son. Together over a 48 years period they built the only complete 3CS/#CN Pattern Collection. We recently got them their elusive crown jewel from Bob Simpson who had wanted to keep the gorgeous coin but was touched by their story.(he is done selling coins). Here is a letter we were allowed to publish:
Dear Mr. Simpson,
I would like to profoundly thank you for recently selling me the J-1260 3C pattern.
48 years ago, just after finishing my coin collecting merit badge, my father and I decided to
embark on trying to complete a special type of collection together. We thought long and hard
and settled on a collection of 3C patterns. Seemed like something obtuse, with likely not a lot
of competition for and because a relatively limited number to collect would be something we
could fairly easily complete. Other than being something odd to collect, we never imagined the
difficulty of completing the collection. By the late 1990’s we had completed nearly all of the
Trime patterns except for the J-803 which you owned. As the PCGS registry came out, we
realized that we had nearly all the unique Trime patterns and you had nearly all the unique
Nickel patterns. However, it was deflating in the sense we realized it was unlikely that the
collection would ever be completed. We went dormant in the pursuit at that time. In 2015,
I went hardcore into research, querying every auction catalog for sales records. I began to
realize how inaccurate the Judd book was for rarity. I submitted many coins for metal analysis
and was able to document 2 new varieties. Your recent Heritage sales created that last
opportunity to close a very long pursuit.
This afternoon, I received the coin from Laura. I brought it over to my dad who I did not tell
that I was so close to getting the last coin. He is in memory care now and cognitively is not
always entirely there. However, when I showed him the coin, tears came down his face, he was
very aware of what it represented, For that, I very much thank you again. The ability to likely
share that one last significant shared memory with my father was precious.
We decided to share this letter as a tribute to not only our customer but to all the collectors who share their journeys w/friends, other collectors or loved ones. This story did bring a tear to our eyes too! We deeply thank the collector for allowing us to participate in his journey.
SELL YOUR JUNK NOW
We still feel getting out of your junk-like US Proof sets, Mint products (except the new Moran and Peace Dollars) is super smart. The prices are at record levels for what you can sell the stuff for. We firmly advise trading the proceeds for rare coins -especially generic Saints or better coins. With Saint premiums still stupidly low, you will do far better in the long run w/the Saints.
Or just take any profits or losses you can with your stuff.
We can handle it all. This year so far, we probably have sold $1 million dollars worth of US Mint Products for people. Call or email us today! Even if there is a correction in the prices of bullion, you’re still getting far more than you would have six months ago!!!
SPECIAL NOTE: It is our opinion, that due to the extreme volatility in the stock market, you WILL see a shift back into hard assets as things calm down. That means the rare coins of today will only become more valuable. In the past, in situations like this, money has flowed into coins seeking long term security. There is no guarantee this will happen, but we’ve seen it before. Remember 2020? Coins weren’t so hot then. That was right before covid. After covid coins remained strong-just a bit below the covid levels. All that has happened within 5 years!
NEWPS
We have some really cool coins in our NEWPS. We actually are excited! Check out these highlights:
50C 1852 PCGS MS65 CAC Super HIGH END!
$1 1893-O PCGS MS64 CAC A semi PL great coin!
$1 1884-CC PCGS MS67+ CAC SUPERB!
G $1 1854 PCGS MS 65 CAC Older blue tag. Colorful!
$20 1924-S PCGS MS64 CAC Really nice!
J-151 1C 1853 PCGS PR66 CAC The finest at CAC!
Of course we have even more coins now posted. We worked hard to ferret out the best looking and top quality coins that were available. You’ll like these coins!
Be sure to check out our regular inventory too. We are still selling coins at a good clip-so do not think too long. And do know, for us to own a coin, we’re not going to overpay or buy a bad coin!
WE ARE CLOSED FRIDAYS NOW. HOWEVER, WE DO CHECK OUR EMAILS OFTEN. WE DO NOT CHECK PHONE MESSAGES UNTIL 9 AM MONDAYS.
