Even though we are in the mix of everything, we cannot tell you how the market really is. The best we can say is it is selective.
Our sales in the office had been somewhat sluggish. However, last week we did a $1.1 million gold deal involving better coins. Then we come home from the Baltimore Show and immediately have two buyers for our High Relief PCGS MS65+ CAC.
We know if we had more of the “right” coins, we’d be selling an awful lot. However, due to the drip of supply, our sales are badly suffering. We strongly believe that even today, going into summer, it is NOT a bad time to sell better coins. There simply are NONE around.
OUR SHOW
We sold ZERO coins to collectors at the show. But then attendance was thin. After all, it was a smaller 150-table show.
Our show started Tuesday AM. We had 4 appointments scheduled that day but sold to 6 people!
The first buyer we thought was going to buy a bunch of the NON CAC Commems we had. Oh, did he ever surprise us! He spent a total of $250,000.00 on things from the Comemems to $20,000.00 better gold coins! He bought nearly a double-row box (which is a fantasy of ours, given we don’t always have cheaper coins). The next buyer bought a $20,000.00 rarer gold coin and much more. The third buyer did what we expected; he bought soup to nuts but spent more than we had expected. The fourth buyer also surprised us. By the time we finished, we were like, What just happened today?
It seemed everyone was buying better gold and better WHITE Morgans. We did sell some Type. If you remember, before the show we wrote that we expected many old friends to be sold. Check our regular inventory. A LOT of old friends are now sold—and at STRONG prices too.
On Wednesday, there was a dealer’s room. Typically there are two, but this show not a lot of dealers made the trip. A table opened up right outside the entrance to the room. We had just wanted to sit. But dealers came up and asked if they could see our coins. We sold $150,000.00 on Wednesday sitting at that table. Talk about being at the right place at the right time! We were joking that maybe when the show opens, we should just stay there vs. our regular table show table (and, as we thought, the show was a dud).
Some dealers theorize that because there was no Long Beach and only FUN in July, some sealers were stocking up. We don’t buy that for a minute. However, we are now paranoid about how our July will be. We have no real access to any fresh coins unless our customers want to sell or we get lucky and dealers call us. Save for a few coins on Want Lists we sold already, our NEWPS are it for a few weeks, quite possibly.
Have prices gone up? VERY hard to say. One thing we saw for sure, dealers not just wanted coins, they needed them! Typically, this is not a great time to sell, but the market clearly has done a flip-flop. We now think Orlando FUN in July might turn into a bigger show than anyone expected. We are thinking of going there just to buy, but we doubt we’ll see many coins of the caliber we need.
GOLD–IMPORTANT
We are still bullish. However, we are now thinking it might be a good time to lock in some profits on gold and definitely silver items. Do not sell everything, just some coins or bullion. We are starting to see some cracks in what the analysts are thinking. Here is an article we saw on Kitco we feel is important reading: https://www.kitco.com/news/article/2025-06-19/citi-sees-gold-prices-falling-below-3000-end-year
Does this mean gold won’t hit $4,000.00 as others are predicting? NO! But it could very well dip before it rises. If tensions in the Middle East ease, gold probably will plateau. No one knows what is really going on there. If you are overweight in gold—especially generics—it might be a good time to lighten your position. Ditto on silver items.
We can confirm gold coins were by far our biggest seller at the show. The dealers were paying strong prices for what we had. Of course there was no gold to be bought over all at the show either. If you’re thinking of selling—with a situation like that, NOW is the time to sell your dupes or whatever else you were on the fence about.
Legend is still bullish on generics and rare gold over the long term. We tried to buy PCGS CAC or CACG MS 65 Saints at the show. Bought ONE coin. Again, we bought only ONE coin. Ditto for an MS66 CAC Saint. And if you’re bullish on gold, stay that way. Gold has had a bold rise over the past year. A small correction would not surprise us.
Call or email us on what you have. Any generics or bullion are needed in our office the next day if we confirm a number over the phone. This is with anything where the prices change daily.
BUILDING A PCGS CAC SET?
As you know, Legend has built many of the absolute FINEST Collections ever. The quality of the sets is requested. All sets are PCGS CAC.
We want collectors to understand, if you’re building a great set and a nice example of an impossible coin becomes available, it’s okay to add it to your set. When we built the Coronet Morgan set (former #1), he had the PCGS MS66 NO CAC. Being his only non-CAC piece, it doesn’t hurt the coin. In fact, if anything, it brought the coin a stronger value. Why? It’s a little psychology. People see the coin and say, Hmmm, if it’s good enough for this set, then It’s good enough for my set.
At the Baltimore Show, we had this issue come up. It happened on a coin we owned many years ago—before CAC. It is a very rare coin.
In our opinion, the coin was accurately graded. We felt strongly that CAC did not like the look (which is the way they come) and did not understand the coin. We don’t take chances on what we place in a set. So we got an opinion from someone we know who, in our opinion, knows the series as well as anyone. He said, Yep, the coin is accurately graded. If you’re building a set, you must buy it. We did. While we do not like placing non-CAC coins in sets we build, there are exceptions. In this case, we would never find a higher-graded PCGS CAC coin.
We advise you ONLY add a NON-CAC coin to your collection under controlled circumstances. That means work with a dealer who knows what they are doing and trust what they say. Many times we have vetoed non-CAC coins even if they were the only examples, period. It is okay to not have a coin in a set. We just want you to know, there can be exceptions.
LEGEND NEEDS YOUR COINS. WE CAN HANDLE A SINGLE COIN OR A COLLECTION. CALL OR EMAIL US TODAY
NEWPS
As you can already see, we sold our High Relief PCGS MS65+ CAC. We had two buyers! ALL of our NEWPS will be posted by Saturday AM.
Our favorite NEWP: the 1C 1905 PCGS PR67 RB CAC. Frigging gorgeous coin.
We wish we had more to discuss. We did our best to buy reasonably priced coins. There were just so darn few in dealers boxes or at their tables.
Again, Legend is buying. What do you have?
OUR OFFICES ARE CLOSED FRIDAYS, AND WE OPEN AT 9 AM MONDAYS. WE DO NOT CHECK FOR PHONE MESSAGES UNTIL THEN. WE DO CHECK OUR EMAILS DAILY.
