The generic and rare coin gold markets have been surging! Perhaps the unexpected interest rate cut caused gold to surpass $2,600.00, or perhaps investors are once again profiting from stocks, as evidenced by the increased activity.
We’ve had to raise the purchase price for MS 65 Saints. We are selling all we can get. Luckily, we just bought a small group of 1925’s. Besides PCGS CAC MS64’s, we think MS65’s are a tremendous buy today. How can you go wrong buying a true GEM for about 25% over spot?
Although it’s still a bit of a buyers market on gold, we do very much see prices starting to firm up. We visited one of the industry’s largest wholesale dealers. We normally spend six figures on cheaper coins. We looked at his gold; we bought NOTHING. Why? He had NOTHING. However, we did purchase a rare six-figure gold coin, PCGS/CAC pop. 2. We paid the same amount as we did for the only other one back in 2019. We consider it a bargain today! He had another rare six-figure piece that we deemed overpriced, proving that not every gold coin is a good deal! You have to know the difference between a coin priced “right” and one that’s too much (you need a trustworthy dealer).
How high will gold go? There are all kinds of articles by experts saying $3,000.00. In our opinion, we are starting to get weary of it rising much more. However, developments in the Middle East and our upcoming election could potentially alter gold pricing. The price of gold has been consistently rising. We shall see. We do know that collectors are buying generics and BETTER gold again.
THE MARKET
The non-gold market is very hit or miss. Some coins, priced between $5,000.00 and $10,000.00, leave us wondering why their value isn’t higher. You can buy GEM Bust Halves for between $8,000.00 and $11,000.00. Then there are all the Seated and Barber coins. You can build a Barber set pretty easily.
Collector demand for these coins, for reasons unknown or understood by us, seems sluggish. This is why you should consider purchasing them at a reasonable price. There isn’t a glut of high-quality coins available in the market. You are not paying top of the market prices. These are coins that you can purchase and hold for a few years.
Morgans are enjoying demand across the board. The only problem at the upper end is that there are a few dealers trying to artificially keep their prices higher than they should be. Be careful when buying six-figure Morgans. Regular white PCGS CAC Morgans are still a “happening” area. SUPERB GEM, better date PCGS CAC Morgans are not around.
Nickels are still quiet. Copper is mixed. We do see a sluggishness in the early copper. We have been very selective in that area (but we are still big fans of early copper coins).
NORTHERN LIGHTS TONERS AN UNEQUALLED BRAND
When building any collection, our main objective is to strive to place only the very best coins in it. Our emphasis is also on eye appeal. When we assembled the “Northern Lights” Toned Morgan Collection, we essentially created a brand, as it is known for the wildest toners.
While there are many pedigreed numismatic collections established, the Stuart Blay pedigree is an example that can be trusted.
What’s unique about “brand” vs. “pedigree”?
Anyone can pedigree a collection. Sure, there can be historical value, but you want a name brand you can trust.
A brand is a powerful group of coins that displays consistency and superior quality. The Blay coins were and still are the only ones we would buy sight unseen. We also used the same magic to construct the Northern Lights set.
That’s why last week, when we posted several of the NL coins we recently purchased, they were all sold within 24 hours. It does not matter if your collection is 5 80S Morgans in MS66 or a Simpson deal; you want a WOW factor. It does make a difference. Of course, the overall quality does too.
We can assure you that dealers are eager to purchase our coins or collections that we have curated. We don’t buy or place junk!
LET LEGEND ASSIST YOU WITH BUILDING YOUR DREAM COLLECTION. YOU DON’T HAVE TO BE A SIMPSON TO HAVE OUR FULL ATTENTION. BUILDING GREAT COLLECTIONS ABSOUTELY IS WHAT WE DO!
NEWPS
A disappointing week. We flew out to conclude a deal we had been working on for many months, only to find out the heirs are quibbling. Frustrating. We’ve done everything from grading the coins to sending them to CAC. Not many dealers are willing to do that anymore. Hopefully the deal will come to fruition.
We stopped at a friend’s office and bought a few goodies. We also bought a few coins from our customers.
HIGHLIGHTS INCLUDE:
10C 1796 PCGS AU55 CAC A GEM AU!
$10 1874-S PCGS AU 58 CAC
$20 1922 CACG MS65
We have many coins with great eye appeal and superior qualities that are now posted. Check out our inventory.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER EMAIL US WE DO NOT CHECK OUR EMAILS UNTIL 9 AM Monday.
