We heard a lot of that. Dealers were surprised we were at the FUN Show just as much as we were surprised about many of them being there as well. Without a doubt, this summer’s FUN Show was one of the best attended by dealers in many years. This is being written before the public is allowed in. However, we did see many collectors with early bird badges.
We knew we had problems when so many retail-oriented dealers were there just to buy.Like us, many did not even take a table. Our “super secret” stealth seller was swamped before the show. We all were running between the hotels trying to ferret out coins. Sadly, there was nothing to buy. Overall, including a “super secret prearranged deal” with a collector, we only spent $175,000.00. Way was short of the $500,000.00 we had hoped to buy. At least we did find a few SMALL Want List coins. The big stuff—NADA. Due to GH still being at the show, we have curtailed posting many of our NEWPS until next week, as we do not have images of most. Stay tuned.
ARE YOU KIDDING?
We warned everyone about another major depletion of our inventory from this show. Originally, we were just going to buy at FUN and NOT sell. GH said, “Why not take a box”? He knew a few dealers were going only to buy. So he brought down one box.
We were stunned. EVERY one he showed bought coins. By late afternoon Wednesday, he had sold $150,000.00+. Not only that, the dealers were paying what we were asking on our website! . They needed coins (like we did). Clearly, the wholesale market is ahead of pricing—except for auctions. We warn that the coins in the upcoming Heritage sale will realize very strong prices if they are nice. The current value guides just cannot keep up in some instances. Do know there are some areas of weakness; however, those are small. GEM Bust halves, White PCGS CAC Morgans, Proof Morgans, ALL better gold, patterns, etc., are strong. The available coins are nil. Type has its moments too.
Clearly if you have duplicates—SELL! We also cannot stress enough NOW is the time to sell. People need coins TODAY. Waiting until ANA could cost you. You want to hit the show with cash, not trades. BTW, we have been told the ANA Show is actually sold out, as are the hotels. We think they are lucky the market is so strong; thus, people cannot miss the show. We were not going to attend, but we needed coins!
The future is questionable because of the severe lack of coins. We don’t yet know the size and scope of the ANA auctions. If they are really big, then everyone should have some coins—maybe for a month. If not, then we are all in for some trouble. A lack of coins actually could cause the market to slow. If collectors don’t see neat coins, they shut down and go to their other hobbies. Hopefully that scenario won’t happen.
If you have coins you want to sell or for us to take to ANA, send them now! Waiting could hurt you!
Fact: One mega-major wholesale dealer told us he only brought a little bit of what we all called “slop” (a term). And he sold most of the coins. He was stunned as he recounted how it was a mini feeding frenzy. No one expected the setup to be so strong. We did NOT expect to sell the amount we did. It took so little effort—that shows strength in the market.
WHO SAYS YOU CAN’T MAKE MONEY IN COINS?
A collector played a little show and tell with us at the show. He showed us a monster collection of coins. This was a collection we passed on buying before he did 30 years ago and it has haunted us badly ever since. The coins were still in first-generation NGC slabs. The coins did not turn color or lose their intensity. If our memory is right, he paid $60-$90G for it back then. Even though we have handled many of the greatest coins ever, this particular group of coins in our eyes ranks up there with the 3 Ultra High Reliefs, two 1913 5C, the Quadruple Stellas, etc., that we have handled. Today, this set is worth well OVER $250,000.00! True QUALITY and TRUE EYE APPEAL values will NEVER fade and are what you need. We are prepared to pay a record price when the collector is ready to sell. We don’t care what the price guides say, as these coins today are irreplaceable. It’s the kind of collection you buy today for tomorrow’s gains. You can make money buying coins. Long-term hold is a major key.
You don’t have to hold coins for 30 years to make money. But you can’t hold them for less than a year or two—the coin market is not the stock market.
NEWPS
We have a few nice NEWPS. If you notice, we do have many coins valued below $5,000.00! We have two remarkable patterns posted this week and a killer 1878CC 25C.
5C J-1691 1882 PCGS PR65RB CAC SIMPSON
J-58 RESTRIKE 1836 PCGS PR64 CAC
The 25C 1878-CC PCGS MS65 CAC is a great coin too!
Be sure to check out our NEWPS carefully. We know this entire group will be sold by or at ANA! Buying now will save you if the coins pass to another dealer.
Someone wants to sell us their collection? Call or email us today!
OUR OFFICE IS NOT OPEN ON FRIDAYS. WE CHECK OUR PHONE MESSAGES MONDAY AT 9 AM. HOWEVER, WE DO CHECK OUR EMAILS OVER THE WEEKEND.
