KABOOM GOLD HAS ERUPTED!
Gold was re awakened in the most startling way Friday. The Brexit vote pushed world markets into a near panic. Of course everything over reacts. Gold shot up as much as $60.00 in day. If you remember last week/weeks we saw curious movement from the big Wall Street players into gold. They sensed something would happen.
How does all this affect generics and rare coins?
People from all walks of life have always turned to gold as a “safe haven”during turmoil. No one knows how long the market will roll wildly this time. BUT (the big BUT) there is so much going on in the world and with the stock market always first to turn down, gold overnight is now on more peoples radars. We do know that the big market makers of generics already raised most bids 5%. They had too , many of them had little to no supply for the overnight demand they are now experiencing.
Rare coins as a group WILL eventually see a boost. They are NOT directly affected by bullion, BUT some people see buying BETTER gold as another avenue of safety. Plus, buying solid rare gold coins, you get a far bigger bump up in prices as demand increases vs just a % or two for bullion.
For the past few months we have been highly recommending Type sets in Gold (and all the metals-but gold was #1 ). Or you can go back to last weeks Market Report where we posted a few ideas of projects you can do in gold. The MOST IMPORTANT things to know-BUY PCGS CAC pieces especially with BETTER old. If you don’t care about quality and want generics , then you should buy as close to the generic bids as possible (you’ll have to ask your dealers what the bids are). Keep in mind, supply of ALL better and generic PCGS CAC gold is extremely thin (when we sell what we have posted-we’re cleaned out). We do expect the spreads to rise by Monday. You can always buy NON CAC gold-but beware, you stand a very high chance of getting an öff”coin. Unless you can buy with a small % of the bids, you don’t want those coins.
Of course you can always buy bullion out right-but be prepared for higher margins and slow delivery as supplies are dwindled there too.
Do note: ALL rare metals of coins will enjoy this upcoming “hard asset” demand. Just gold is in the public eye and is more easily understood. We really believe your going to see a huge shift by a lot of people into hard assets shortly. This Brexit thing was a wake up call.
NEWPS
Can’t say we have any ultra rarities or a big offering this week. We do have real SUPERB GEM great looking coins. We decided to unleash our generic gold now. So we’re pricing them at small mark ups-over what we paid-which was before gold jumped $60.00 an ounce. Highlights this week include:
1c 1902 PCGS PR67 RD CAMEO CAC WOW!
3CS 1867 PCGS MS65 CAC RARE!
$1 1880CC PCGSMS67+ PL CAC THE FINEST 80CC ON EARTH!
$1 1887 PCGS PR66 CAC KILLER COLORS
50c 1939 PDS ARK SET PCGS MS66 CAC
50C J-73 1838 PCGS PR65 CAC INCREDIBLE!-SOLD
ALL THE NEWPS ARE NOW POSTED!
Don’t forget to check out our regular inventory-there are some great coins posted. We’ll work hard to get you in the coins of your desires!
LEGEND AUCTIONS
MORE BREAKING NEWS!
We’ve been traveling all over the US picking up fabulous FRESH consignments. This week we are pleased to announce the fabulous Lionel Type Collection of coins will now being included in our September 29th Regency Auction at the PCGS Invitational. The value of this set is over $500,000.00!
These coins have been off the market for well OVER a decade! If you are building a GEM/SUPERB GEM Type set, or buy certain series, you will want these coins!
We are preparing this group now (images and CAC) for cataloging and display. A teaser of the highlights include:
H.01 1794 PCGS MS62
H.10 1797 15 Star PCGS MS64
10C 1807 PCGS MS65
50C 1853 A/R PCGS MS65
ALL OF THE SEPTEMBER REGENCY SALE WILL BE DISPLAYED AT THE LONG BEACH SHOW IN SEPTEMBER.
ALL of the Northern Lights collection , Flannagan, Lionel, and any other special highlights we have will be displayed at the ANA Show in August. Yes, we will have a handful of highlights at the upcoming Baltimore Show in July.
After the PCGS Invitational, we’re back on the road schedule to pick up some “sick” consignments. One has us almost to the point we can’t sleep-really. You’ll not only want to bid for these GEMs, you’ll definatley want your coins sold along side them!
SUMMER SESSIONS
SESSION I CLOSES TUESDAY STARTING AT 10 PM EST
We are thrilled at the response of our Summer Sessions sale I. We see many new bidders participating leaving some serious bids. We have full confidence the results will be as good as any major auction.
Remember, Legend Rare Coin Auctions is owned and staffed by some of greatest numismatists of the current generation.
You can be assured, our Summer Sessions sales are NOT like any typical Internet sale. ALL coins are vetted by TWO world class bourse floor respected numismatists. We’re not going to sell any dreck or junk in our sales!
Sorry there is no phone bidding in the Internet ONLY sales. In our Regency Sales, you may phone bid.
If you wish to consign to our July Summer Session sale or our big Sept Regency sale, contact Greg Cohen: greg@legendauctions or Julie Abrams: julie@legendauctions.com today! Your coins will get the exposure and prices they deserve with us. Bigger isn’t always better when you have a smaller consignment.
IF YOU HAVE QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK FOR MESSAGES UNTIL 9 AM MONDAY.
