The week started off slightly disappointing. We expected a lot of calls and emails on Monday asking about NEWPS and how the show went. For us, it was eerily quiet. Plus, our Malca shipment went MIA (in fact, our shipment to the show never arrived), leaving us with little to do. Then, on Wednesday, it felt like an explosion of activity. All day we conducted strong business and received many emails. The rest of the week continued to build momentum.
Going into the FUN Auction, we were unsuccessful on over $3,200,000.00 worth of coins, despite placing strong bids. Buying coins for stock was nearly impossible (though we did manage to purchase a few). By far, the strongest area in the market was MS Standing Quarters with Full Heads, which commanded crazy prices. There’s a substantial amount of gold we’d like to buy in the remaining sales, though we’re not optimistic about our chances.
Clearly, since early December, the market has been getting stronger. Collectors who had been sitting on the sidelines are no longer holding back. We’ve seen many old friends return with a vengeance, and several step up their collecting ambitions by purchasing much more expensive coins. We cannot stress enough that today’s price guides are lagging behind the current market. The activity far outpaces their ability to collect relevant information. At the moment, most dealers use auctions as a guide, but you really need an expert to interpret why a coin sold for too little or too much.
YOU HEARD IT HERE FIRST
If you own coins valued below $5,000.00, you could be in for a windfall soon. Apparently, there are apps where hundreds of thousands of dollars’ worth of cheaper coins are sold every day. There’s an unconfirmed rumor that one dealer sold $800,000 in a single day at FUN through an app. Even more significant is the influx of NEW and YOUNGER collectors these apps are attracting. Enough coins were purchased that the bourse floor at FUN ran out of nicer, cheaper products to buy before the show even started. Even at the auctions, the prices of cheaper coins have risen.
What we’re saying here is: watch out for a potential overnight explosion in the prices of cheaper coins. In most areas, pricing has already increased. However, as demand continues to surge, prices are likely to rise even more significantly in 2025. A huge “secret” black hole of demand has opened because of these new apps. It’s mind-boggling. We saw certain dealers using these apps who couldn’t buy enough at FUN—they didn’t just need a few coins; they needed millions of dollars’ worth! Be ready for the price explosion.
Oh, and don’t discount more expensive coins. There’s HUGE demand out there for MANY items. Unfortunately, a few areas remain soft, like PR 3CNs and smaller MS Bust coins. By far, the hottest areas are Standing 25C with Full Head, followed by Bust Dollars (in our opinion). We also wish we could buy more NON-Common Date DMPLs in higher grades.
We stand by this report and our expectations for 2025. While there may be a typical quiet period after FUN, we anticipate 2025 will be the year for coins to recover the losses from the post-COVID era. Legend is back to selling a lot of coins, but our inventory is at its lowest level in years, and we cannot replace the coins we’re selling.
NEWPS
This is ROUND II of our FUN Show NEWPS. We are proud to have assembled such an amazing offering. The quality is diverse, and we worked extra hard to acquire coins for all tastes and budgets (Legend sells far more than just the high-end stuff)! Highlights include:
1C 1909-S VDB PCGS MS66RB CAC – ALMOST FULLY GEM RED!
10C 1911 PCGS PR68 CAC EX BLAY – A TONED MONSTER.
50C 1817 PCGS MS64+ CAC EX SIMPSON – A MONSTER COLORED COIN.
$1 1898-O PCGS MS66+ DMPL CAC – A MONSTER THAT LOOKS PROOF!
$20 1926-D PCGS MS62 CAC FAIRMONT – A REALLY SUPERIOR COIN!
We assure you, EVERY coin we post has superior quality and eye appeal. We strive to sell only the top coins for the grade every time.
Be sure to check out our regular PCGS CAC inventory. We have some excellent coins posted. The two Proof Morgans—the 1882 PCGS PR68 Ex Jack Lee and the 1887 PCGS PR66 Cameo—were the most picked-up coins in our case. We don’t expect them to last too long. The same goes for several other coins. This market is really heating up!
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