VISIT LEGEND AT THE BALTIMORE SHOW—TABLE 643
GOLD GAME OVER—FOR NOW!
We crowed that for the last two weeks we thought gold was shooting up too high and too fast. No one really listened. Now, the correction is upon us. We do feel this is VERY healthy. Where do we think gold will be soon? We think it will hover around $3,500.00-$3,800.00 for a while, then continue back over $4,000.00.
When gold hit $4,300.00, we knew local coin stores had a buying frenzy from the public. A lot of coin dealers made a lot of money. Today, people are frozen thinking those prices will come back and beyond. We say LOL. It may take a very long time. We can’t say this enough: you can never get hurt taking a profit. And now is not the worst time to buy back in either.
THE RARE COIN MARKET
Like too many other dealers, we are attending the Baltimore show to buy. Good luck to us!
In the past 60 days, the ultra-deep black hole managed to get turbo charged. When we say there are no coins on the market, we mean it. If you gave us money to build a set like Peace Dollars white in PCGS CAC MS65—no can do. It does not matter how much money you throw at it.
Legend has Want Lists out the yazoo (we are talking about $20 million). It has become a very difficult time for us due to the lack of coins we need. Without the coins, no sales. We are not a store, so we do not generally do bullion or other items to make money. Take our word on it, we are starved for coins—even though we spent millions since ANA in the major auctions.
Rare coins just HAVE TO RISE IN VALUE. They really are, but the rags that report values have no serious reporters and are hurting the growth. Watch what a nice coin brings in auction. There is NO question PCGS CAC coins by far bring the most. BUT, there are many LOW-END NO CAC coins that can sell for 2/3 less than what a CAC coin does. It makes it hard to publish a value anyway. We strongly believe that hurts some of the market and freezes some collectors out, as they do not understand or know the market. We tell people to watch what coins bring in auctions and discuss those prices with a trusted dealer.
Nice coins will be really strong in the Baltimore sales even if gold drops 10% more. Rare coins are a totally different market. TODAY, DO NOT BE AFRAID TO STRETCH FOR ANYTHING REALLY NICE—ESPECIALLY CAC.COINS. There are so many coins out there you think you can find, but in reality can’t and most likely won’t as time goes on.
NEWPS
OMG! We have a few NEWPS this week. 15 of them are priced BELOW $10,000.00! Gone are going to be the days of having a bunch of super sexy $25G coins. We just can’t get enough of what we want, and LEGEND REFUSES TO CHANGE OR LOWER ITS STANDARDS.
We do have a few highlights this week. We did buy a complete CC set; however, a few are NOT CAC, and we won’t post them.
$1 1884-CC PCGS MS67+ CAC
$1 1892-CC PCGS MS65+ CAC
Also, we have an older holder $10 Liberty deal with some really scarce coins. This group has been off the market for MANY years. NONE were from any of the Fairmont sales.
Last call for coins in our inventory. We know with just the first 4 people we are scheduled to see, most coins WILL be sold. Air warning!
If you have any questions, please mail or call us.
OUR OFFICES ARE CLOSED ON FRIDAYS. WE DO CHECK OUR EMAILS DAILY. WE DO NOT CHECK PHONE MESSAGES UNTIL MONDAY AT 9 AM.
