THIS JULY IS ONE FOR THE RECORD BOOKS
We had a typical slow Monday and Tuesday. We were thinking the summer doldrums finally were settling in. NOT! Then on Wednesday, things exploded. First we had two calls overnight to buy coins. One was a $25,000.00 coin! Then we sent out our COW email. Yet again, we had 2 IMMEDIATE buyers for the High Relief PCGS MS65+ CAC. The rest of the day we spent selling coins via email and calls to us. At the end of the day, we had sold OVER $150,000.00 just off our website (NOT including the HR)! This is mid-July, NOT March or October! We are shocked our sales are well over $1 million dollars already.
It’s not just us. We spoke to a few other dealers; they are enjoying strong sales too. We had been slightly concerned this run could crash after ANA, but it won’t. Dealer inventories are dramatically depleted. Since the bullion dealing has slowed a bit, many dealers are in huge cash positions. And OMG, the dealers selling all these cheaper coins via these apps—some are selling hundreds of thousands per day! Do note, it disturbs us greatly that on those apps, many dealers are selling seriously bad coins. We are talking about whizzed, bad garbage coins. Sadly, that is NOT a good way to introduce new people to the hobby. BUT, they are indeed selling huge numbers, as we have witnessed it in person. Hopefully a few of the newbies will learn and hang around for the long term.
We used to say coins between $2,000.00 and $10,000.00 are red hot. Now we see coins up to $25,000.00 are red hot. And coins up to $100,000.00 definitely are strong too. The switch definitely is turned on for the “right” coins. Do note: there absolutely still are areas of weakness. There had been massive amounts of money sitting on the sidelines due to all the uncertainties in the world. Now, we believe people and collectors are seeing hard assets as a viable financial security. Rare coins are cheaper than art, which many experts say is overpriced. Other collectible areas just do not offer the liquidity. Hence, we believe a huge amount of NEW collectors have entered the market. That’s a good thing, but they have dried up the miniscule supply and made many coins rise in value.
Just before this report was written, we spent an hour raising all our bids on coins that can be bid on. WE NEED COINS TOO! We’re going into ANA dry. We cannot stress enough, SELL NOW, when there are confirmed ready buyers at good prices. At ANA the market cools a bit due to the huge auctions. In fact, typically it slows for 30-60 days after so people can digest their purchases.
A WORD ABOUT OUR DESCRIPTIONS
We heard a few mumblings about how some collectors feel we “hype” our coins. NOT TRUE AT ALL.
We do not know of many other dealers who not only handle exclusively PCGS CAC or CACG coins but also hand-pick every one. We do NOT just rely on a coin being beaned. ANY coin we buy MUST be exceptional. That is our DNA. We don’t want to just offer any old MS65 or MS66. Our history of building some of the greatest collections—Simpson, Morelan, Black Cat, Coronet, etc.—should serve as proof as to the type of coins we sell. It is not about a coin being expensive; it is about the coin itself. If we see a monster DMPL, and they typically sell for $2,000.00, we will pay $3,000.00 if that is the price. The types of coins we sell can NOT be bought cheap.
Middle-of-the-road coins are really not our thing. So you will see many HIGH-END coins listed. Here is what our descriptions mean:
HIGH END: a coin that is an A-. It is not in the middle of the road. But it is not knocking on the next grade up. Of course it has great eye appeal.
VERY HIGH END: a sexy and great-looking coin. Typically these coins are non + coins we wonder why they did not +. They are for sure closer to the next grade up vs. the next grade down.
SUPER HIGH END: knocking on the next grade. Has really strong eye appeal—not just HIGH-END looking. We assure you, if we call it SUPER HIGH END, it’s better than most, and you want to own it.
The fact is, ALL our coins are handpicked for their outstanding qualities and eye appeal. We do reject many coins for our offerings. The rest we wholesale to dealers. Our return rate from collectors is maybe 1%, and we sell tens of millions of dollars to serious collectors! Collectors do not see how before a show starts, the biggest crack-out dealers want to see our coins. It’s an honor they always make time for us. There is an obvious reason for that.
We do NOT hype our coins. We try to make our descriptions as accurate as possible. Know that if you buy a coin from us, you are buying a special and really nice piece. If you’re a price buyer who just wants the holder at a cheaper price, we are not for you. Sorry.
NEWPS
WOW, WOW, WOW. We have two MONSTER Proof Trade Dollars. We do not use the term MONSTER lightly either. Check them out.
We also have some killer gold. Two coins that seriously stand out:
$2.5 1899 PCGS MS 67 CAC
$10 1912 PCGS MS66 CAC Ex O’Neal
We have several other stunning (and we mean stunning) posted (check out the 3CS 81873 PCGS PR65 CAC and the 25C 1892-O PCGS MS66 CAC). The NWPS we have listed this week have quality that few other dealers will offer.
PREPARE FOR ANA TODAY!
We’ll be heading to the show soon. We MUST have all coins in our office by August 14th—NO exceptions.
We cannot emphasize enough that NOW is the best time to sell. Sell when collectors have demand, not after the fact. Go into ANA with cash to spend. You’ll get better deals, and sometimes seven more coins will be offered to you.
Call or email us today with the coins you want to sell or consign to us. We’ll do as well as any auction house. We don’t have 20% fees, and we are far faster!
A REMINDER: OUR OFFICES ARE CLOSED FRIDAYS. WE DO ANSWER OUR EMAILS EVERY DAY. WE ONLY CHECK OUR PHONE MESSAGES AT 9 AM ON MONDAYS.
