This has to be one of the rare tax times where the coin market did not die out. We had strong-make that VERY strong activity from Saturday through Friday 3:00 (we always seems to make a significant Friday afternoon sale). We sold SEVERAL five figure coins during the week-including a few ‘old friends”. Clearly, from our point of view the darkness from the beginning of the year IS slowly lifting and life is returning to normal in the market. Do note: the coins we sell are very high end are not dreck or average widgets.
The overall mood of the market seems much better then two months ago. Activity is proving that.
We think the CSNS Show will be decent. Its history of bad timing (tax time) might not hold it back this year. Too many people are looking for many types of different coins right now. Only lack of supply (a real problem for us) could derail the recovery.
Fact: our sales for the month of April could very possibly end up record breaking. That could never happen in a down market.
A NOTE ON GOLD
The price of gold has quietly been rising. The wholesale prices of things like generics had fallen to a point they were so low it almost was not worth encapsulating them. Now, very quietly the prices are firming. We’ll let you in a little secret: major wholesale buyers are back and they are making stronger bids. Prices on certain coins are up maybe 5% since last month. While that might not seem like a lot, the fact the bidders are back-is HUGE!
Especially watch prices of generic Indian Gold (especially the cheaper $2.5-64/65), $10 Indians, $20 Libs and Saints in all grades. The market we are discussing here does not affect rarer gold which is still as crazily in demand as ever. We still highly recommend building Type sets. We can’t make any promises, but we really feel ANY better gold (and many generics) will have rise boldly in price in the next six months.
A GENERAL NOTE
Buy right! Today there are some tremendous opportunities that from time to time are offered. Do NOT be afraid to step up, the market is NOT on fire. Paying a premium today for a coin with few peers or has incredible eye appeal and quality WILL yield you substantial returns down the road. Always remember coins are a LONG TERM hold with short term swings. We always advise people to “buy for tomorrow”.
First, this week we listed the incredible 1C 1864L PCGS PR65+ RB, now Legend Numismatics is proud to offer the ALL TIME FINEST early Pattern and 1792 coin-the J-1 1792 Silver Cent PCGS MS67 BN. Yes, it is a MONSTER MS67! This once in a lifetime coin belongs in a museum. It is an extra coin from the Bob Simpson Collection (NO he is NOT selling out-most people do not realize how vast of a collection he has). See the description and images at: http://www.legendnumismatics.com/product/j-1-1c-1792-silver-center-cent-pcgs-ms67bn/
We’re not exactly one trick ponies. We have a small handful of awesome NEWPS we will post this week. One of the highlights is a magnificent 50C 1887 PCGS PR67+ CAC and a $1 1902 PCGS PR64 CAC beautifully colored Morgan (we never ever see them like this). This coin would blind a peacock! Of course there are several other coins to fit every ones tastes and budgets.
This week, we’re also repricing and re-posting a few coins we’re stumped that have not sold. Rather then wholesaling them at CSNS and never seeing them again, we’re cutting the prices so they can stay within our customer base. Once the market really picks up its return, you’ll regret missing out on buying these great coins really cheap!
ALL NEWPS WILL BE POSTED BY EARLY AFTERNOON SATURDAY 4/23.
LEGEND RARE COIN AUCTIONS
Bidding and registration to our now live May 19th Regency Sale has been remarkable! With every sale, the participation has grown substantially. This one has already started off with 50% more registrants then the last sale-which was record breaking!
To register or to see the sale, visit the Legend Auctions Web site.
ALL LOTS WILL BE AVAILABLE FOR VIEWING AT THE CSNS SHOW AT OUR TABLE.
If you wish to register, lot view, or make phone bidding reservations, please contact Julie Abrams: firstname.lastname@example.org. If you have numismatic questions, our numismatist, Greg Cohen can be contacted at: email@example.com
Last if you are having difficulty deciding what coin or coins you want to pursue, do not hesitate to contact us to discuss. We will NOT suggest a coin just to make sale. If your a Legend customer you know we’ll tell you if the coin is right for you. Contact Laura Sperber direct: firstname.lastname@example.org. Also, our representation services are FREE for our auctions.
The staff of Legend Numismatics are huge Prince fans. His music and style we adored. Very sad. May he RIP.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US AT: email@example.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.