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Anaconda Rare Coins - Amazing FUN Show Newps & Interesting Market Report!

Hello All,

I’m sitting here in the Frozen Tundra which is Dallas during an Ice storm pondering how long it will take me to drive home going 30 mph. I woke up this morning to an inch or so of frozen little ice-pellets on the ground creating some of the most hazardous driving conditions I’ve encountered since moving to Dallas over 2 years ago. I trust everyone is keeping warm and if like us, had a fire going in the living room fireplace all weekend. The smell of burning hardwood with the occasional wisp of chilly air giving me a shiver confirms that winter has finally arrived in North Texas. I’ve finally gotten all of our new purchases from the FUN show imaged (over 125 coins) and am in the process of cataloging and researching them to add descriptions today and tomorrow.

We had a great time at the FUN show in Orlando and managed to snag some amazingly beautiful patterns out of Heritage’s sale along with other outstanding pieces from the other sessions. Finding coins on the floor seemed to be more of a challenge than we had expected with a show of this size but we did manage to hunt down some incredible coins for you to drool over. Highlights from our new purchases include an 1806 Quarter in NGC MS64 with beautiful original surfaces and nice luster, a killer 1812 Capped Bust half Dollar with an impeccable strike, and blazing luster graded PCGS MS66, a beautiful PCGS VF30 Oak Tree Shilling, and two stunning lightly circulated PCGS Graded 1807 Draped Bust Halves. We also managed to pick up an Aluminum Pattern Morgan Dollar, a Cameo Longacre Sailor Head Trade Dollar, and a superb AU53 1803/2 Turban Head Half Eagle. I hope you take the time to have a quick look through our new inventory as I feel there are many great deals in there along with some extremely scarce patterns, beautiful type coins, and interesting pieces that don’t show up very often. If you have any questions about any of the coins in our inventory or need to contact me for any reason, don’t hesitate to give me a call at 1-800-440-8334. This is my cell number and I answer at all hours of the day (which can get me sour looks from my wife) but if I’m in a situation where my phone isn’t near me or I simply can’t answer, leave a message and I’ll respond to you promptly. Also, since I don’t have the descriptions done yet, I will be sending the new purchases with small gallery images (sorry about the filesize but well worth the wait).

Some observations about the show:

1. Coins in the auctions either sold for moon money, for much less than expected, or didn’t meet reserve. (Bad images caused some to be overlooked as many folks didn’t get to make it to lot-viewing as it was through many collector’s holidays.) As usual, I viewed every coin in this sale and noted which ones were stellar but had images which didn’t do them justice and got some great deals.

2. Coins near the end of the Heritage sale didn’t perform as well as they should have (Commems) and many coins in the Stacks sale didn’t meet reserve.

3. Sales during the show were strong but finding nice coins took patience, skill, and a hint of luck.

4. Lack of premium material did make buying a touch more difficult as we had to essentially swim through oceans of overgraded, problem, unoriginal, and hideous coins to find even a couple examples we wanted for our clients. We worked extremely hard and looked at thousands upon thousands of coins to find the nicest examples possible for the right price and I feel that our efforts were successful.

5. Don’t rely on a coin simply being in a PCGS or NGC holder to confirm that the coin is properly graded or problem free. I was astounded at the number of unacceptable examples I saw especially when trying to buy nice early copper type.


The Peter Principle of Coin Grading:

The Peter Principle: In a hierarchy every employee tends to rise to his level of incompetence. With coins however, we are talking about salability, grades, and well um coins.

Capped Bust Half Dollars are growing into a dichotomy regarding price levels and I feel that this is also reflected in other areas of numismatics as well. As more and more of them get graded and regraded there is only one place to go but up. Nobody is going to crack out a coin in an MS66 holder when it is obviously an MS65 or even lower. However, you can bet your last bronze plated button that someone, eventually, will crackout and eventually upgrade that PQ MS64 until it resides in a holder at a grade nobody with an average sized set of cohones or half a brain cell would even consider cracking out. It is essentially the Peter Principle applied to coins and grading. Coins are being upgraded to the point where nobody wants to pony up the dough at the level they are graded at so they trade at lower levels both hurting the values of properly graded coins and creating a false sense of market weakening because of lower prices realized. On the other end of the spectrum, premium examples are bringing staggering prices with no printed value guide even coming close to what they are bringing while overgraded lack-luster and stripped out examples are selling for much lower than listed price levels.


What is hot and what is not:

Hot – Early Copper cents and half cents (Draped, Liberty Cap, Classic, Chain, and Wreath) Big Time! Problem free material is performing very well and there is even a fairly strong demand for net graded material.
Not – Lincoln Cents and Coronet Cents

Hot – Draped Bust and Flowing Hair dollars and half dollars
Not – Walking Liberty Halves and White Morgan Dollars (common date commodity type)

Hot – Three Cent Silvers (Proofs with Color!)
Not – Buffalo Nickels

Hot – All Colonial Issues
Not – All Barber Issues (quarters, dimes, and halves). The PCGS price guide is WAAAAY too high and even greysheet MS65 money is incredibly strong compared to actual prices these are bringing.

Still Hot – Capped Bust Half Dollars
Still Not – My haircut

Getting Hotter – Trade Dollars and Seated Dollars in Mint State. I noticed a hunger for these coins growing during each show and requests by my retail clients confirm my suspicions.
Getting Colder – NGC Graded Early Commemoratives. Nice eye-appealing examples are a great deal right now but since there are so few that match this criteria (Properly Graded + Eye Appealing + NGC = Damn Rare), good luck finding them.

As always, we are always looking for exceptionally nice coins and pay strong money for them. Also, if you are considering consigning your coins to an auction but don’t want the hassle of waiting 45 days to get paid, are worried about poor images, and your coins selling for too little, then why not give us a call and ask about our consignment program. Reasonable consignment fees, immediate payment after completion of sale, outstanding images and accurate descriptions are what ARC consignments are all about. We have one of the largest reaches on the internet with our inventory listed on Heritage, Certified Coin Exchange, eBay, and of course www.anacondararecoins.com in addition to the major shows we attend. I can guarantee that your coins will be marketed to the fullest extent of our capabilities. Call 1-800-440-8334 to inquire and get the most for your collection.

-Thanks,
-Brandon Kelley
-1-800-440-8334
-brandon@anacondararecoins.com
-www.AnacondaRareCoins.com


Featured New Purchases!


1652 12p PCGS VF30 Oak Tree Shilling 72.07 grns.

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1806 25c NGC MS64 Toned Draped Bust Quarter

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1795 50c NGC MS62 O-116 Flowing Hair Half ex. Eliasberg

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1812 50c PCGS MS66 Monster PQ Capped Bust Half Dollar!

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1797 $1 NGC AU55 PQ Well Struck Draped Bust Dollar AU58?

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1869 $1 PCGS PR64DCAM Proof Seated Dollar

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1883-O $1 PCGS MS65 Toned Morgan Dollar

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1911 $10 NGC MS65 Outstanding PQ! Gold Eagle

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Brandon Kelley - ANA - 972.746.9193 - http://www.bestofyesterdaycollectibles.com

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