FAR BUSIER THAN WE THOUGHT
We have been so busy in the office we have not had the time to post the Buffalo Nickel deal we got in over two months ago! Now we have a 800 coin deal which we are trying to get to ASAP.
What have we been doing? First, prepping the 1000 Buffaloes took a lot of time. Working on this 800 coin deal will be the same. In fact travel to do the deal took 3 full days of our time. During this entire period we had been attending the ANA Show and Long Beach. However we also had been busy spending and selling MILLIONS (OVER $10,000,000.00 now) from the famous Oliver Jung Type Collection-the best EVER. Our sales have been much more off the charts then we really thought. Selling five figure coins is really our bread and butter-and we sold far more then we realized.
If the market had slowed like we had expected, none of this would have been possible. Our customer base is such that unique quality coins do NOT last long. We know we are not alone.
Collectors just do not want stuff or retreads right now. The market can be some what choppy in certain areas (like Type), but when the right coins come around, that is quickly erased.
BUY TO HOLD
Since when did buying coins become a short term event? We had always told people: buy the best YOU can afford and hold. It seems the Registry game may have brought out a lot of speculators or people with short attention spans who sell when they finish a set. Some times they get lucky. But NOT always.
In many cases today you MUST OVER-pay to buy the very best coins. Even Oliver Jung who is breaking up his all time FINEST EVER Type set is learning some coins he will win on and some he is getting a big ouch (he lost $250G on an extremely rare coin we bought). You just can’t buy and sell on a short term basis any more. Even dealers like us are having problems making a living trading daily (you would not believe how slim margins have become).
Unless you need the money, we suggest holding your coins a MINIMUM of 5 years. That does not mean at the end of 5 years you are guaranteed a profit. Look at all the world class collections that were held 15-35 years or longer. Those all earned the HUGE rewards-not the collections just assembled and sold. Sure, toady because of a freak circumstance it might be possible to sell a top set for profit, that opportunity for sure is winding down and certainly won’t be around for ever. It has been an aberration to the market.
Same thing with gold. We suggested to many to build Type sets. Its a myth that if gold goes up, their coins will too. Its a matter of the premiums. It can take time for those to move. Basically we are telling you, if you want the action of the stock market, coins are NOT for you. However, if you buy right and allow for time to pass, you WILL do very well.
The rare coin market is NOT a short term proposition!
OUR EXPECTATIONS FOR SEPTEMBER
The balance of the month will end up good. We firmly believe the PCGS Invitational at the end of the month will be well attended by BOTH dealers and collectors. We KNOW due to early bids, the already record eye balls, and new bidders who registered our auction will be a success. Just how strong prices go is the question.
After the sale and show, there is NOTHING until the PCGS invitational in New Orleans, where we have another major auction. Without any major shows, we think activity will be as strong as it can be. Only on retreads, stuff, or dreck will the market be poor. The black hole of quality seems to never have sucked in enough.
Warning, if you seek the best quality, do NOT pass up a coin because it is 10-20% too much. Besides the fact you may never see another again, your buying to hold long terms to realize much bigger gains then those.
As you can see we have a wonderful and diverse offering of NEWPS. Highlights include:
H.10 1854 W/A PCGS MS67+ CAC THE FINEST GRADED EX Oliver Jung
10C 1916 PCGS MS68 FB CAC
$1 1875S TRADE PCGS MS66 CAC
$2.5 1898 PCGS PR65 DCAMEO CAC
$5 1913 PCGS MS65 CAC
Of course there are many other great coins too choose from. We promise to start posting the Buffalo 5C. The 800 coin deal won’t be ready for a week or two still. There are many GEM coins in the latter deal-including one of the FINEST Washington Quarter set (the 32S is a PCGS MS66) and a top Jefferson 5C MS Set (the 53S is MS65).
In the mean time, we are working overtime to offer you the very best coins. We’re still working to secure DMPL’s and other neat coins in the $1,500.00-$6,000.00 price ranges (PCGS CAC of course).
LEGEND RARE COIN AUCTIONS
Auction Phone: 732-935-1168
Things are really strong already for our Auction 34. This is NOT hype, it fact! We have more NEW registrants then ever, we have more eye balls already then ever, and we have record bidding ALREADY!
Contact our any of our auction directors for assistance:
Julie Abrams: firstname.lastname@example.org
Jessica Berkman: email@example.com
Greg Cohen: firstname.lastname@example.org
Do note: the auction company is NT in the same offices are Legend anymore. So allow extra time if you wish Legend to still lot view for you.
Of course do not forget, you get world class representation for FREE from us! Just call or email us before September 23rd.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: email@example.com. WE DO NOT CHECK OUR PHONE MESSAGE UNTIL 9 AM MONDAY.