Its always an interesting read but the coins they carry are beyond the budget of most collectors. Many of their coins alone would finance the entry of a small dealer into the market let alone finance a muscle car or Sugar Baby. I would say a very small percentage of the population has this kind of money to spend on coins let alone would spend it on that about 1% of the top 1%. Not an area I would want to invest in. Look at all the big ticket coins they were bidding on let alone walking around the bourse to pickoff coins to retail from their website (I would rather just pick off the nice stuff from the wolesalers myself).
I like budget coins around $300 and under as far as Numismatic Material. Bullion Coins like AGB's and AGE;s of course I will spend more. MS and PF 69 of these offer excellent value. I believe these offer excellent value in today's market, especially classic commems. There are a lot of nice classic commems that can be had for $100-$200 and under. I find Modern coins selling briskly from my table at shows and it has become evident many delaers are changing their primary focus to moderns. The alluring area of Modern World Gold is another rising star on the bourse. A number of collectors are putting together nice Franklin sets as these are affordable and offer nostalgia to an era when one's weekly allowance was 50 cents and he was saving up 3 fifty cent pieces to afford a model car kit priced for $1.49 at Woolworths. A young guy in the coin club buys cheap ICG coins off ebay and has a case full of them as one of the cases on his table at shows. They are stacked 6 deep and this would be about 500 ICG coins in this 2x3 glass display case of his. I like his display sign for shows "Nice Slabbed Coins, most under $100" and "Cash paid for Coins and Currency." I saw where Apmex had some super deals on PCGS or NGC mod dollars barely $10-$15 above melt. I bought a few lots of these plus some PCGS 70 $5 tenth ounce eagles for around $170 (market value is $250 per CU).
The Sep 13 CDN had some good insights into Coin Market Activity as bids posted on CoinPlex are nearing the $1 billion mark and CCE active bids are slightly over $2 Billion.
At Long Beach on Thursday, Legend had virtually nothing in their display case, so I assume they were here to a) buy at the show b) do private deals, and c) attend and bid in the Heritage Auctions. Per my report, I thought foot traffic was lighter at this show than it was in June.
I deal in coins a few steps on the ladder below those Legend often buys and sells. I still see "sky is the limit" asking prices in dealer cases and similar hammer price for many auction coins. I wonder aloud what look of horror many of these coin buyers have when they want to sell such coins and realize that they can't get their money out of them, or close to it.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
Legend's euphoria over high prices at auctions almost sounds like we're entering another mania stage in higher end rare coins again. It's been approx 4 years since the market last tanked. That's about 1/2 of a normal buisiness cycle. As long as the stock market continues to fly higher things should be ok for rare coins.
I find it rather odd they only buy 30 percent of the coins they bid on and then proclaim the new owners are not buried in them. If that is the case why not bid higher and win more??? LOL
What ever happened about the cyber bully that slandered them, all seems quiet and the market reports always says they are doing better by the day.
Mark NGC registry V-Nickel proof #6!!!! working on proof shield nickels # 8 with a bullet!!!!
<< <i>What ever happened about the cyber bully that slandered them, all seems quiet and the market reports always says they are doing better by the day. >>
Good question. Perhaps TDN could give us an update.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Some one bullied Legend???? When was this??? Can I give you my opinion? They are quite sucessful in dealing with the other half, perhaps the other 1 % of the population that can afford to buy coins at those prices. Which is not to say there is no value in the coins at these levels, but that crowd is not in it as a hobby. I don't care what you have to say! 20k 30k 150k I know this business and NO ONE is working close at those numbers. Why? because if a coin begins a decline whether or not the margin was there makes no difference. The buyer is caught in a down market and unable to get out of the piece. I read with humor that someone here said "his client spent 1 million with him" and that it's meaningless to this buyer. OK sure and when the buyer is looking for cash and can't get 60% of his money IT WILL MATTER THEN. The money doesn't matter to these people my *&*^%$ ??? Take a shopping cart and bump the rich guys car with it. See if the money matters then. Bet it does. Make sure you list your coins as Manufactured by TPG with approval on the TPG. What does that tell you? It should tell you the money matters. Make sure you sell only one kind of TPG encased opined coin with approval sticker. What does that tell you? Narrows down the market doesnt' it? I am talking about a hobby. Not an investment. I am talking about a hobby. Unless well heeled people with "deep pockets" can appreciate the coins like they do their art and other tangible assets amongst themselves this is not going to go well. I have to go now. I am working in the basement on a black tulpen I think I will call it the "Viceroy" The above OPINION on the Coin Market is mine and only mine as I see it. If it's wrong well then.............Nevermind
If Col. Green cleaned most of his MS coins and the sale was loaded with land mines wasn't it NGC's job to weed out the land mines by placing them in non-land mine holders?
<< <i>If Col. Green cleaned most of his MS coins and the sale was loaded with land mines wasn't it NGC's job to weed out the land mines by placing them in non-land mine holders? >>
After the coins were cleaned they were placed into books and sleeves that gave them secondary toning. Having acquired 30 plus years of such toning, the coins became market acceptable once again and thereby able to be placed in problem free holders. Viewing the coins in hand though, one could clearly see hairlines over many of the coins.
Comments
I like budget coins around $300 and under as far as Numismatic Material. Bullion Coins like AGB's and AGE;s of course I will spend more. MS and PF 69 of these offer excellent value. I believe these offer excellent value in today's market, especially classic commems. There are a lot of nice classic commems that can be had for $100-$200 and under. I find Modern coins selling briskly from my table at shows and it has become evident many delaers are changing their primary focus to moderns. The alluring area of Modern World Gold is another rising star on the bourse. A number of collectors are putting together nice Franklin sets as these are affordable and offer nostalgia to an era when one's weekly allowance was 50 cents and he was saving up 3 fifty cent pieces to afford a model car kit priced for $1.49 at Woolworths. A young guy in the coin club buys cheap ICG coins off ebay and has a case full of them as one of the cases on his table at shows. They are stacked 6 deep and this would be about 500 ICG coins in this 2x3 glass display case of his. I like his display sign for shows "Nice Slabbed Coins, most under $100" and "Cash paid for Coins and Currency." I saw where Apmex had some super deals on PCGS or NGC mod dollars barely $10-$15 above melt. I bought a few lots of these plus some PCGS 70 $5 tenth ounce eagles for around $170 (market value is $250 per CU).
The Sep 13 CDN had some good insights into Coin Market Activity as bids posted on CoinPlex are nearing the $1 billion mark and CCE active bids are slightly over $2 Billion.
I deal in coins a few steps on the ladder below those Legend often buys and sells. I still see "sky is the limit" asking prices in dealer cases and similar hammer price for many auction coins. I wonder aloud what look of horror many of these coin buyers have when they want to sell such coins and realize that they can't get their money out of them, or close to it.
"Seu cabra da peste,
"Sou Mangueira......."
I find u.s. coin in general overpriced in many ways. Some I love like seated, busts and early copper.
What ever happened about the cyber bully that slandered them, all seems quiet and the market reports always says they are doing better by the day.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>What ever happened about the cyber bully that slandered them, all seems quiet and the market reports always says they are doing better by the day. >>
Good question. Perhaps TDN could give us an update.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I don't care what you have to say! 20k 30k 150k I know this business and NO ONE is working close at those numbers. Why? because if a coin begins a decline whether or not the margin was there makes no difference. The buyer is caught in a down market and unable to get out of the piece.
I read with humor that someone here said "his client spent 1 million with him" and that it's meaningless to this buyer. OK sure and when the buyer is looking for cash and can't get 60% of his money IT WILL MATTER THEN.
The money doesn't matter to these people my *&*^%$ ???
Take a shopping cart and bump the rich guys car with it. See if the money matters then. Bet it does.
Make sure you list your coins as Manufactured by TPG with approval on the TPG. What does that tell you? It should tell you the money matters. Make sure you sell only one kind of TPG encased opined coin with approval sticker. What does that tell you? Narrows down the market doesnt' it?
I am talking about a hobby. Not an investment. I am talking about a hobby. Unless well heeled people with "deep pockets" can appreciate the coins like they do their art and other tangible assets amongst themselves this is not going to go well.
I have to go now. I am working in the basement on a black tulpen I think I will call it the "Viceroy"
The above OPINION on the Coin Market is mine and only mine as I see it. If it's wrong well then.............Nevermind
<< <i>If Col. Green cleaned most of his MS coins and the sale was loaded with land mines wasn't it NGC's job to weed out the land mines by placing them in non-land mine holders? >>
After the coins were cleaned they were placed into books and sleeves that gave them secondary toning. Having acquired 30 plus years of such toning, the coins became market acceptable once again and thereby able to be placed in problem free holders. Viewing the coins in hand though, one could clearly see hairlines over many of the coins.