The past few weeks many people have asked us if they should invest in gold bullion. With the daily rapid rise in value, we are not as comfortable as we were when spot was at $2000. However, we are major league BULLISH on better generics and of course BETTER gold.
We cannot believe how premiums for coins like MS 64 Saints simply do not exist. Last Thursday ( April 4th ) when spot was $2,292.00, non CAC PCGS MS64 Saints weren’t much less than gold spot. Interestingly, there was little movement in other generic gold prices as well. It is our strong opinion that these low premiums cannot and will not last forever. The market needs to catch up to the new levels. At some point, you will see MS 64 Saints at $3,500.00 and things like MS 65 Saints at $4,000.00 or higher. It’s obvious to us, the price of gold is firm and is here to stay.
There just cannot be much downside in ANY kind of better gold right now. Forever, we have been suggesting collectors build gold Type sets. Today, we cannot scream that idea any louder-even though we know of many other collecting gold strategies. Plus, with premiums so low, we think the higher grades will offer the best pop when the market finally catches up. One other thing we suggest (and we see happening every day now) is to take a portion of your bullion and sell it and buy into these NO premium bigger gold coins. So, if spot only goes up 5% more, the coins have serious possibilities of sharper price rises. Do note: There are many areas in gold that should be avoided-email or call us to discuss.
LEGEND WANTS ITS COINS BACK!
The overall market is quiet but is NOT dead. We are in that tricky lack of supply time again and there is not a major coin show until May 1st-CSNS. The biggest problem, these shows are not the answer anymore. You cannot go to one and think you will come home loaded with coins. What collectors want are fresh, nice and the same rarer coins everyone wants. Typically, those coins end up in auction and sell for too much for dealers to stock. But then in recent months, we have not seen many juicy coins appear even in auctions. We can’t even turn to our biggest active customers for coins, one is in his 40’s, the oldest not even 60 and the others, they are still in their collecting primes. We need some of those coins back!
No one will offer you a higher price or better deal on a memo basis than us. We are ONLY talking about coins bought direct from Legend Numismatics-Legend Auction coins were not ours. Talk to us today!
NEWPS
The highlight coin is the $5 1839-D PCGS AU55 CAC. We have owned it before and will ALWAYS want to own it. If we did not have to buy and sell, it would remain with us forever! The rarity and MONSTER quality are beyond anything else we have ever seen for the date-in any grade!
We must stress the overall quality and superior eye appeal of each coin posted is Unrivaled. We deal ONLY in the BEST quality for the grade-and that is more than proven fact.
Stay tuned. We are finally getting back some coins. We expect to have some great NEWPS shortly. However, we have many great coins and we sit and wonder why they do not have great homes yet. Check them out!
We look forward to hearing from you!
