You have heard us saying for months about how we have few coins to offer—at least the coins we need. Well, now we have a few major sets coming on line to offer. These sets are being sold for personal reasons and are pretty much a consolidation for the collectors; there is no connection to market timing or any financial distress.
The first collection is The Northern Michigan Collection of Proof Shield Nickels. This set is all PCGS and mostly CAC. Some of the coins included are the finest graded. The set is 100% complete and includes the 1867 With/Rays and the rare 1867 pattern. The NM collector worked overtime back in 2017–2020, finding the very best coins that were available. Whenever he could, he would buy PCGS-CAC-graded coins.
See all the Northern Michigan coins on our NEWPS inventory page. The 1867 No Rays Pattern REV PR 66 Cameo CAC will be posted next week.
A heads up: We will be posting the Young-Dakota Proof Barber 25C Collection for sale after July 1st. Get your Want Lists to us!
There will be more interesting sets coming soon, so stay tuned.
HOW IS THE MARKET?
Generic gold has died down. In fact, we think it might be buying time, as it’s gone soft. The premiums are still ridiculously low. We can tell you this: We know several big players in the Wall Street world; they have been buying gold in the last few months. These guys do not buy at the tail end of price hikes.
We strongly believe that the rare coin market is in for another 2020–2021 bull run. Why? It seems younger investors are seeking better experiences for their money and are gravitating toward collectables and hard assets (as especially seen with gold).
That could also explain why the better coins cost crazy money in auctions when they are available. And that is another issue—when they are available. We expect the ANA Auctions to have some great coins this time vs. the 2024 FUN sale being okay, not the real WOW sale.
We keep discussing that deep black hole out there—well, it very well may be younger buyers. Here is a small part of an article by Robert Frank from CNBC that was written on June 18th:
“The collecting style has changed,” said Drew Watson, head of art services at Bank of America. “The younger generation is increasingly transactional. The old school was to buy and hold for the long term over many decades, if you sold at all. And they collected in a certain category, as connoisseurs. The younger cohort is more likely to trade in and out of certain assets and collect across different categories. It’s a more individualized approach to collecting.”
Young investors are three times more interested in classic cars than older collectors and twice as interested in collectible watches, wine, jewelry, antiques, and sports cards. Nearly a third of wealthy young investors are interested in collecting sneakers.
We were surprised coins were not mentioned, but we know there is a wealth of younger buyers coming in. Assuming more of the younger collectors keep entering the coin market, this would dramatically increase values at a much faster pace than today, as supplies are ever-so-limited. In our opinion, especially compared to art and even cars, so many coins are too cheap. We still do not understand why people will pay $100,000.00 for a 1975 Chevy that is not all that souped up but in good condition. In our world, you can buy a GEM MS 66 1825 Bust Half for $40,000.00 or a GEM 1C 1909-S VDB MS 66RD for about $30,000.00.
Nice, rare coins are NOT overvalued. It’s not just our opinion. The rare coin market actually has a dysfunctional valuation system. Values are generally only reported after a major auction, so private sales are missed. We can’t tell you how many times recently we had to pay way over a published price that we knew was from the Stone Age. The problem with that is that it holds back a few buyers who do know that a coin is way UNDERvalued. Not everyone can research things 24/7. There are plenty of coins out there we wish we could buy at the published prices we see.
Our hope is that, as time goes on, this system of valuing coins will improve. But then, if you buy for the long term and can understand the market, you know to pay what it takes (assuming it is a coin of superior quality).
NEWPS
As we mentioned, the Northern Michigan Collection of Proof Shield Nickel is now for sale. There are many great coins from it now posted. Included are several pop 1 coins.
This set was never listed on the registry. Buy a coin today, and you can still beat the June 30th registry set deadline!
We posted other coins too. Most are priced BELOW $5,000.00!
Of course, we are still buying. Our Want Lists are HUGE. What do you have for sale?
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9:00 AM MONDAY
