ALL THAT GLITTERS SOMETIMES IS NOT GOLD
Only certain parts of the market are seeing strength. Pure lower grade collector coins are still red hot. When gold came down last week, the demand came down too. However, we feel gold just rose too sharply, too fast and it will continue on its merry way up. The market for better higher graded coins is choppy. We did sell a six figure silver Type coin this week and a few five figure coins. The Bust Halves, posted last weekend, created a mini feeding frenzy. However, overall activity fell below our expectations.
There are still plenty signs of life. The biggest problem is lack of desired coins, we hear this every day from collectors: where are the coins? We know we could sell well over $1 million dollars in less than an hour IF we could find the coins we really need. Example: we need PCGS CAC MS64FH and finer Standing Liberty 25C in the teens and 20’s. We keep being offered everything but those. We are broadcasting all over. We need GEM CC DMPL’s PCGS CAC 66 or finer. Not a single coin has popped up. High end MS Morgan dollars as well.
The good news about lack of coins, prices MUST go up in most areas. Today, we only see better gold coins rising in value and MS CC Morgans. It will take time, but we strongly feel the market as a whole will rise and thrive. Another thing to note: collectors never realized how small the coin market is. Look what happened during covid. We had a mass influx of new buyers. They took many coins off the market into what we call a deep black hole. So far very few coins have come back on to the market. Add the new buyers to the current spectrum of collectors and you can see demand far outstrips supply!
For coins we absolutely need, we have to pay more-in many cases way above published numbers because they only track auction prices. Many collectors and dealers are figuring this out and are not allowing coins to last on the market. We strongly advise collectors if you see a coin for sale you want, do not think too hard about it. Also, always remember cash is king! You will get the best deals from any dealer on a hot coin by writing an immediate check or sending a bank wire.
NEWPS
Last week’s Bust halves sold fast, really fast. This week we have some sensational NEWPS. Highlights include:
5C 1910 PCGS PR68 CAC VERY LOW POP-COLORFUL TOO!
25C 1873 W/A PCGS MS65 CAC ONLY 2 BEANED BY CAC
$10 1912 PCGS MS65 CAC NOT A COMMON DATE
Of course we worked hard to have an offering to fit everyone’s tastes and budgets.
We suggest you check out our entire inventory listing. We have many great coins that deserve great homes.
LEGEND NUMISMATICS IS BUYING, WHAT DO YOU HAVE FOR SALE?
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US. WE DO NOT CHECK OUR PHONE UNTIL 9:00 AM MONDAY
