Call Us Toll Free
1-800-743-2646
|
 |
Posted: November 8, 2009 8:59 PM CST
|
PRE BALTIMORE REPORT
OUR MARKET REPORT IS COMPRISED OF LEGENDS OBSERVATIONS AND EXPERIENCES AT THE SHOW AND IN OUR OFFICES. KEEP IN MIND, OTHER DEALERS WILL HAVE DIFFERENT OPINIONS AND EXPERIENCES.
PRE BALTIMORE REPORT
For the record, we expect Baltimore to be a VERY strong show. Why?
There have not been any major shows since Long Beach-which has been a forever 45 days ago. Gold has been on a tear lately. And there have been no major additions to the ever shrinking supply of nice coins.
We fully expect to see the usual suspects running wild looking to buy gold coins before the show begins. Sadly, they will still be cracking out and messing with the coins, but at least they are much more reserved in what they buy. We used to see guys buy coins for "crackout" if they felt they had even a 20% chance. Plus, some upgrades are not worth doing thanks to the new market order (inferior coins selling for so much less).
Still, many dealers who do deal in gold have sold a lot of gold all of the sudden (amazing, only a month ago the big firms wouldn't even look at generics) and rare gold coins are now selling as strong as ever. Without a major show, it has been impossible to replace them. We're not so sure the supply of anything at Baltimore will be sizeable.
The price of gold generally does NOT effect the rare coin market. However since there is just so little of anything out there, cash rich dealers will seize the opportunity and buy cool coins to put away because they seem cheap. The rise in gold is definately giving rare coins a bounce up right now.
A SUGGESTION OF WHAT TO BUY
Every day we get asked what should I be buying? As much as we hate making public recommendations, we are going to do so only because we can't believe how some areas are simply lacking real demand and are selling way too cheap.
A contrarian usually does very well in coins. NOW is the time to be buying MS and PR 64 and higher MS Seated and Barber coins. Of all the rare coins out there, for whatever reason, these have temporarily fallen out of favor in a big way. True GEMs are NOT abundant. Did you know you can buy a GEM MS66 PCGS Barber Dime for just UNDER $1,000.00? Or, how about a PR66 Barber Dime for UNDER $2,000.00. Seated material has great value all over. A GEM MS65 common Seated Quarter is only about $2,000.00. We really think MS67's are steal at $6,000.00, again-if you can find them.
Other areas as well hold incredible potential: Three Cent Nickels and Shield Nickels. In GEM, these series have been overlooked. Most people do not realize, you can build complete sets!
Last, we only recommend MS64 and higher gold. Leave the MS61's or hacked up 63's to the people who think they are too smart. You can get some great deals in areas like $2.5 indians in MS65, $2.5 Libs in MS66-67, $5 Libs MS65-66, $5 Indians MS64-65, $20 Saints MS66-67 (the world loves a perfect Saint-just like they do an MS68 Morgan)! The quality and color MUST be all there. We have noticed that recently CAC has been NOT stickering a whole lot of higher grade gold. We assume they just are not seeing anything they like.
These suggestions are only OUR opinions. We have been full time coin dealers since 1979 and have been thru 3 booms and busts now. We know all the series and know who the players are, where prices have been, whats available, and what is going on overall.
THE BALTIMORE SHOW
We will be at our usual table: 555. Stop by and see us!
NEWPS will begin posting next Sunday night. We promise that we are going to be VERY aggressive at the show buying! We also want to re-mention our current buy list:
LEGENDS WANT LIST
PCGS PR67 CAC 1914 5C Quote us!
PCGS/NGC CAC 1900+1912 PR 66 BARBER DIMES We will pay $2,250.00 each!
PCGS MS67 CAC $2.5 Liberty Gold $5,000.00+
PCGS/NGC MS66 CAC Saints $3,450.00. We will take up to 100 coins! NO ONE HAS SOLD US ANY YET!
PCGS MS67 CAC Saints $12,500.00 ONLY 23D, 28's. We will pay $11,500.00 for a 24. Again. PCGS CAC ONLY.
Legend has more money to spend on great coins than ANYONE! We need cool coins. Do note, we will NOT quote sightUNSEEN unless the coins are CAC. Do NOT expect to get CAC prices for coins that do not have the green beans!
Please call or email us with any questions or comments.
PLEASE MAKE SURE TO CHECK OUT OR REGULAR INVENTORY AS WELL AS OUR NEWPS AND MCCLAREN COLLECTION COINS.
|
|
