LOOKS LIKE THE SWTCH IS OFF-TODAY
Outside of auctions, the market seems very sluggish all of the sudden. There are no fresh coins to be found and coins simply are not trading. Everyone’s retail the past week was very slow. Maybe the economy is finally having an effect? Yet if it’s a fresh major GOLD rarity and it’s in auction the bidders will still all pile on and cause a record price. Go figure.
Are rare coin prices falling? Just a little and it depends on what you have. We can say for certain; prices are not near what they were in in January when the market was completely on fire. Even the Perfection Collection of Proof Seated Dollars (#1 set) failed to achieve beyond strong money in auction last week. For stock, do not expect us to pay auction money these days. Collectors have become every picky. Alos, after Baltimore next week, there are no major shows until FUN. Snooze time!
We warned everyone the market would not zoom up forever. Will it crash? NO. Too many people have way too much money in the coin market. Plus, there is no flood of coins available to choke it off. For as much as things are coming back to a normal clip, there are many newer people still popping up and asking what coins to buy. Most end up buying gold rarities. Copper, Nickel, and most silver Type is very hit or miss right now.
You can’t beat buying now-prices are generally NOT rising. In most areas, you’re not paying the all-time highs. You can get some good deals if you shop around. We expect the market to jump back at FUN.
THE CAC SAGA
Legend Numismatics currently supports PCGS /CAC graded coins. We will watch how the market develops on the new CAC Grading service. Until we see otherwise, we are not changing our loyalty from PCGS/CAC. We have no doubt the new service will succeed as there was much thought and discussion with collectors and dealers by John Albanese.
Do not fall into the potential trap of PCGS /CAC beaned coins being worth more. Can’t see it. It’s the same folks grading. JA set the standards. The premiums for PCGS CAC coins are already enormous.
OLD HOLDERS
While we are on that subject, do NOT fall into the trap of buying old holder coins for a premium more than the coin is worth next grade up. We firmly believe a few dealers are making an abstract one-way market. There is no firm basis of support or secondary market for old holder coins. You collect coins, NOT the plastic! BEWARE!
LEGEND IS STILL BUYING
Do not expect any profits on coins you bought within the past year or so. The market does not work like that. You need to have fresh coins that are high end to score right now.
If you have been thinking of selling, we do NOT suggest you wait much longer. The market seems to be stalling a bit. You can still get good prices.
NOTE, coins purchased from Legend auctions are NOT coins purchased from Legend. In some cases, we will not make offers.
Take some profits now while you can!
We can always buy collections out right (or single coins), take coins on consignment, or sell them via Legend Auctions at a very favorable rate.
Call or email us with what you have for sale.
NEWPS
Round I of the RS Walker Collection is selling out fast. We still have too many coins at PCCGS and CAC. Hopefully we will have the balance by the end of the month. All of these coins were bought BEFORE 1990!!!! Many were raw and came with ANACS cards. Pretty cool!
We placed a huge portion of the old holder coins in our Regency 56 Internet sale. All were 1940 and later. Stay tuned for more info.
Enjoy this week’s group of UNDER $10,000.00 NEWPS! Can’t say we’ve had that in a while!!!!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
This week is it! Our Regency 55 sale has its final day on Thursday starting at 7 PM Est. We expect strong prices as we have received many eyeballs for this sale and many strong early bidders. Be prepared!
We are int he final stages of accepting consignments for our Regency 56 sale. We already have many superb lots consigned including a choice Bust Half Dollar set. And many cool single rarities.
We have the BEST staff in the auction biz. They will work hard to make sure you receive maximum dollars for your coins. Call or email them: 732-935-1168. Time is running out to consign to auction 56. Call them today!
IF YOU HAVE ANY QUESTIONS, OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
