GOOD TIMES ARE HERE-AT LEAST FOR NOW
Legend did not just have a good week, we had a MONSTER week. We sold just over $4,500,000.00-most of it was one coin (to be announced). Activity on the really big valuable coins is almost at gonzo pace. Can’t say it enough, less then a year ago those coins were insanely dead. For sure the strong activity seems to have some impact down the line as buyers scramble for what is available. The money out there is incredible.
Coins below $5,000.00 are red screaming hot save for a few series. True QUALITY coins are red hot. Morgan and Peace Dollars in GEM are strong. And even with gold dropping, better gold coins are on fire. There are several areas not enjoy this surge. Early copper is still hurting, as are Three Cent Nickels and Bust Quarters. Merc Dimes are flat. Bust material is hit or miss depending on what it is. If you are a contrarian there could be opportunity there. We can help you navigate all this.
Look at what is being offered by dealers today. Not much. The exciting coins are all in auctions. Auctions are competitions. Sometimes people get gun shy and other times they get caught up in the bidding-ouch! When playing auctions, you seriously need representation if you are buying non CAC-no exception. Yes, there are some nice coins out there NON CAC but not many. We absolutely feel most coins have been to CAC. In the end, your safest bet is PCGS CAC only. Why buy possible bad coins? Currently between March and April there are 3 major auctions (including Legend) coming up with some fresh and better coins. Still check with your dealer to see their NEWPS or if you can get a great deal on an “old friend”. Our sales off our web site have not slowed one bit. But then we have 40 years of relationships that give us access to the best coins.
In our opinion, we feel the over all coin market is up 10% from the beginning of the year. Possibly even higher on better coins (all price grades).
GOLD GOLD GOLD
Give it time. It will crush $2,000.00 within the next few months (in our opinion). Thank you feds for the $1.9 trillion pork filled Covid relief package. That will be just a start. Add that on top of what Trump broke the spending records with and inflation will happen. The deficit should go nutso too.
Meanwhile, try and find generic gold. Even we can’t buy hardly anything and all we have done the last 6 months is raise the bids! Better gold sells fast nd we have old friends going away one at a time. We had an MS66+ Saint posted for a few hours and poof! Can’t replace it. When these were $4,750.00 we had trouble selling them. The market for gold-ALL gold is ravenous. Even junk and drecky gold. The better coins go into that deep black hole and disappear for years. We know of 2 world class collectors putting there coins in trust for their grand kids!
If you see really nice gold-snag it. Actually ANY better coin (al metals)-snag it. You are buying today for tomorrow. Paying a 15-30% premium is nothing for what you expect the coins to be worth in many years down the road. We feel strongly in todays market, there are far more buyers then sellers. Gold is still the comfort buy for most people.
NEWPS
As promised we have posted a group of better Saints. Good luck in finding others. The two highlight are:
$20 1907 HR WIRE EDGE PCGS MS66 CAC GORGEOUS!
$20 1920 PCGS MS64+ CAC-A MONSTER
$20 1920-S PCGS MS63 CAC A CORNERSTONE PIECE
These 3 pieces should not overshadow the remarkable G $1 1855 PCGSM66+ CAC or the colorful H.10 1794 PCGS MS64+ CAC.
We tried hard (like we do every week) to have a balanced offering. We are trying hard to buy coins under $5,000.00. NO ONE seems to have them.
Check out our regular inventory as well. No one else has an all CAC inventory of true high quality coins!
Also, we do NOT see many people selling collections. Simpson was a sort of forced sale (divorce) what other collections are there for sale? A few coins is not a collection? Most people feel holding on is right “until the time comes”. Well do not hold on too long. Sure the market is improving and we could very well be in the beginning of a bull market. However it also could end as fast as it started. You can get high prices today. Sell when it is going UP, not pries level off (that usually means the buyers are gone).
Legend can buy your coins outright, put them in our remarkable boutique auction house, or take them on consignment. We more then have the avenues to get you the most money today. We will buy entire collections to get at what we need!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
The consignment time for our April sale is closed. Any consignment that come in Monday-will go into our May Sale. Of course we have many wicked cool coins-that is what Legend auctions is all about.
We’ll posting more highlights in the upcoming week. Stay tuned.
If you wish to speak to our world class staff at the auction co, please call 732-935-1168
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
