We were fully prepared for a slump in October. Typically, the market slump happens in September. This year, the market slump has not yet occurred. However, the absence of major shows or auctions in October has left the coin market largely in a holding pattern. Or so we thought. This past Monday had been very active. The biggest coin we sold that day was $70,000.00. Tuesday was quiet; we could have stayed home. The majority of Wednesday was also quiet, except for an unusual period between 3 and 4:00 PM. Our “Coin Of The Week” email had just hit. Boom! Two people wanted the $10 1839 Rev 1840 PCGS AU58 CAC-a $79,500.00 coin! We sold the second person a different coin they needed. Then, an “old time” customer popped up, wanting to buy generic gold. Boom! He cleaned us out of MS65 Saints. Within an hour, we sold $165,000.00! If you notice, it was all gold. It seems everything but gold coins are quiet (at least for us). We don’t see that changing. It is a pure buyer’s market for non-gold.
HOW TO PLAY THIS GOLD MARKET
All of the world’s gold experts are still predicting that it will break $3,000.00 an ounce. Our sources fully agree; however, a few feel there could be a small correction before it gets there. This year, gold has really done nothing but go up. In our opinion, yes, gold will hit $3,000.00 by the end of the year. We do believe it will be a bit of a roller coaster ride on its way there.
We are seeing a new trend. It’s a trend we fully agree with.
Now that gold and silver are near record highs, we suggest you SELL your “stuff” and trade into better gold. That means junk moderns, bullion, etc. If you are as passionate about gold as we are, trade that money into something like MS 64/65 PCGS CAC Saints or MS66 NO CAC Saints—all W/Motto. The premiums are almost nonexistent. We had been selling common-date PCGS CAC MS65 Saints for $3,400.00 when gold was at $2,660.00. WOW! We could not find any MS64’s. We believe that gold will remain strong as time goes on, and the demand for generic gold will increase the current near nonexistent premiums. The premiums for MS65 Saints just cannot stay down forever! This is a better way to play gold at the current levels. We just heard of someone who traded their bullion in for 100 PCGS MS66 NO CAC Saints at $3,200.00 each! Many people are doing smaller amounts, too. It’s definitely a trend we’re seeing today.
If you really want to buy serious rare coins, build a Type set. A Type Set is a group representing each design of a series minted. You can include designs like Indians, Liberties, or compile a collection of all minted gold coins. All of the dates and grades are what you decide to include. The other option is to let us build a “box of 20” for you. The idea is to build a set of the very best coins to fill the box.
When the bullion or coins arrive at our office, we will pay the current market prices set by market makers. Note: The market for bullion and bullion related coins is slightly discounted as there is more selling than buying. Therefore, you should not anticipate receiving premium prices for these coins. Even if this changed, MS65 Saints or better gold are better investments because their values can rise significantly.
Call or email us to discuss further how to trade your bullion or bullion related coins into better gold.
NEWPS
Here we go again. Our tank is dry. We need coins!
The two highlights for this week are crazy great:
$1 1869 PCGS MS65 CAC STUNNING and RARE!
$5 1909 PCGS MS66 CAC GORGEOUS!
There are probably less than a dozen PCGS CAC MS66’s for the Type!
Of course we invite you to check out our regular listings-especially the non gold coins, where we have some incredible coins seeking great homes.
If you have any questions or wish to order, please email us. We do not check our phone messages until 9 AM Mondays.
