LEGEND NUMISMATICS WISHES THE BEST FOR ALL OUR FRIENDS AND CUTOMERS AFFECTED BY THE WEATHER THIS PAST WEEK.
WHATS HAPPENING
Finally, it was a slower week. Collectors had more things to worry about other then coins. This should be only a temporary lull lasting less then a week.
Another problem this week which seriously hurt our NEWPS, the post office is a disaster. Even Express Mail is days late. Of course we have several packages from PCGS that never left CA! CAC is behind due to weather as well.
Surprise! Friday 2/19 our phones and emails started buzzing with activity after 1 pm. We never thought we’d have 2 serious inquiries on the 10C 1796 PCGS MS65+ with in an hour of it being posted. The coin is on its way to a serious collector. It never ceases to amaze us when we have a quiet week and a highly active Friday and Saturday (especially before 2 auctions). There are deep legs to this market.
AUCTIONS
We fully expect next week to jump back to action. There are two good auctions including Legend Rare Coin Auctions. We can tell you in our sale prices are already strong. While eye balls and registrations are near record numbers already! Lots NEW people registering too. In Heritage, we are representing a lot of people on a lot of coins. we expect to break some price records!
This year, with out shows, auctions are the place to buy coins. When a dealer has a good offering, coins are usually gobbled up with in days and they are done for a while. Overall, what is available is slim pickings. A 500-2,000 lot auction is NOTHING when you have demand reaching thousands of people. Every auction is a competition as to who will pay more. This is where and why prices are moving up. The market is being set at these sales.
We do see new to coins people buying from auctions. That will be huge as the numbers grow. Rare coins still lag behind the baseball card craze, art, and other collectables in relative value. Don’t we all snicker when we hear a Mike Trout rookie card sold for just over $1 million? There are so many coins over 100 years old and in top conditions that have extremely low pops that trade for substantially UNDER $50,000.00. There are so many great values to still be had. One by one in auctions many coins are finally bring prices closer to what is perceived.
Our words of advice, stick to PCGS CAC if you can. Only buy a NON CAC coin if you are working with a top dealer. Buying something cheap today may NOT be the smartest move. There is a reason for that coin to be at that price. Last, ALL the major auction companies DO send their coins (at least the important ones) to CAC.
GOLD
Give it time! Gold WILL break $2,000.00. We’re in a valley now. Best time to load up!
Our best suggestion:
Build a gold Type set. This way you can put whatever you want for each denomination.
We can’t go out at $4,100.00 and buy ANY MS66 Saints. Bigger and better generic gold is impossible to come by. Even pure bullion (especially silver) can NOT be bought for immediate delivery at the major companies. Buy what you can today!
NOTE: the writer of this report is a gold bug.
NEWPS
Ugh oh! We are bone dry of NEWPS. Only 4 coins in our listing are NEWPS. Even if we got all of our packages, we would still be VERY low on NEWPS.
The highlight this week is 2 coins. The $2.5 1807 PCGS AU55 CAC and the $50 Humbert 880 NGC AU53 CAC.
What do you have for sale? We will buy it all to get the coins we need. Right now we have a $20 million Want list! Email or call us with what you have. WE NEED NICE BETTER COINS!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
This upcoming Thursday is the auction. It starts 7:30 Est. There are just over 300 terrific lots. Check them out on their web site.
If you are having problems registering or have any questions, call 732-935-1168. We have the BEST STAFF IN THE BUSINESS!
Selling, considering doing do? Call or email us. We bring world record prices for the best coins!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
