Coin Purchase Plan
Yorkshireman
Posts: 4,583 ✭✭✭✭✭
I have no plan to participate in this, but I would like to get opinions on the new Legend coin purchase program.
Why would one do this if they are collectors and not investors? Would it give one a better shot first pick at stuff in your area of interest?
JJ Teaparty does this, or at least did in the past. I realize Legend's will involve more high end stuff than Teaparty's just from the nature of its target market.
Please weigh in with your thoughts and comments.
Why would one do this if they are collectors and not investors? Would it give one a better shot first pick at stuff in your area of interest?
JJ Teaparty does this, or at least did in the past. I realize Legend's will involve more high end stuff than Teaparty's just from the nature of its target market.
Please weigh in with your thoughts and comments.
Yorkshireman,Obsessed collector of round, metallic pieces of history.Hunting for Latin American colonial portraits plus cool US & British coins.
0
Comments
Such programs are very good for dealers, since they enable dealers to move out stale inventory items. What I would be more interested in knowing is if they
actually are in the financial interests of the buyers---my gut feeling is no.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
"Due to unusual opportunities in the marketplace plus demand for an easy way to buy, we have created two ways to collect and "put away" high quality coins in today's complex market.
Many people have been recently telling us they want to buy a group of coins, but do not know what to do or which ones they should buy. We've created two easy ways to help you. Each plan is devised, personally tailored, and administered by the principals of Legend Numismatics who each have 40+ years experience and have built more of the FINEST major Collections ever than any current dealer who is in business. The principals also attend every major show and they rank among the biggest buyers at the major auctions. Legend knows it markets and coins!
The coins selected for inclusion in these plans will meet Legend's strict quality and eye appeal standards. Pricing is predicated on the price we have paid for each coin plus a small mark up. We'll be seeking out only the VERY BEST deals available. Coins may come from our inventory or you may have "first shot" on NEWPS. You will be buying the coins at a TRUE WHOLESALE price-not someone's advertised crazy retail numbers. One last benefit: Legend Rare Coin Auctions will agree to auction any coin from these plans (so long as they are in their original holder) for an unbeatable % (its so low we can't publish it). ALL COINS ARE CAC'd of course.
Even though these Plans are designed to take advantage of what we see as some possibly short term benefits; however we MUST point out coins are along term proposition and NOTHING is guaranteed. If you are a novice, you won't find any better way to buy!
PLAN 1
$10,000.00-$25,000.00
In this group we will limit the value of coins to approximately $4,000.00. You'd be amazed what you can buy for under $4,000.00 these days!
PLAN 2
$25,000.00-and up in increments of $25,000.00.
NO LIMIT. You can specify all gold or no gold if you wish.
This plan is for someone who wants to buy bigger ticket coins now and knows the importance of having access to really great coins. We do all the leg work. You can set a maximum value per coin to include. We can even get you started on a full collection!
Note: With ALL Plans we create, only "common sense" coins with the most potential will be selected.
This is NOT an approval service. We will only construct a plan after payment is received. All purchases will be broken down individually and each coin WILL have a full 5 day return period. Legend will also keep a record of your purchases so that if there is a spike in the market, we can inform you and make appropriate suggestions.
If you want to buy some really cool coins at todays lower levels, we're here to help! Basically pick a lump sum and we'll do the rest!"
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
-Paul
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
But when it involves money usually to one who divvies the plan makes the most money.
FYI there is a 5 day return privilege.................MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>
The coins selected for inclusion in these plans will meet Legend's strict quality and eye appeal standards. Pricing is predicated on the price we have paid for each coin plus a small mark up. We'll be seeking out only the VERY BEST deals available. Coins may come from our inventory or you may have "first shot" on NEWPS. You will be buying the coins at a TRUE WHOLESALE price-not someone's advertised crazy retail numbers. One last benefit: Legend Rare Coin Auctions will agree to auction any coin from these plans (so long as they are in their original holder) for an unbeatable % (its so low we can't publish it). ALL COINS ARE CAC'd of course.
>>
I'm sure Legends customer service / judgment and marketing is top-notch, their inventory reflects that.
The CAPS in the above referenced paragraph are, well, a bit strange.
However, "(its so low we can't publish it)" sounds like used car sales lingo.
Finally, I'd auction something for you too that I'd already sold to you, for another undefined percentage more.
and so I don't get my head ripped off..DHRC, Pinnacle, Albanese RC
Made popular by Bowers and Ruddy Galleries in the 1970's, especially once they were under GE's ownership. There's no shortage of MS & PF64/65/66/67 type out there in the market (barbers, seated, etc.) today. Just because the stuff is cheap vs. 2008 or 1989 is no guarantee it will be considered cheap in 5-10 years. The best buys today are probably in the stuff you can't find....even in the <$500 price range.
Yup ....
Dave
<< <i>Only an idiot would do something like this, regardless of the dealer offering.
Yup ....
Dave >>
To je govno.
"Seu cabra da peste,
"Sou Mangueira......."
<< <i>
<< <i>Only an idiot would do something like this, regardless of the dealer offering.
Yup ....
Dave >>
To je govno. >>
I had to search on the web for a Croatian to English translation of that.
Mucho effort-o.
Hey when you buy a house or a stock or whatever don't you just send the money and let the pro's do the picking?
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>
Hey when you buy a house or a stock or whatever don't you just send the money and let the pro's do the picking? >>
Sure. . . if it's with your money.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>It wouldn't be for me since the hunt is 99% of my coin pleasure, but others might find it useful. >>
I have found this to be the case most of the time. When I look through a dealer's inventory in person or online, I am just as interested in what he almost never has in stock as in what he routinely has.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Funny how the same old ideas keep getting recycled every 10-15 years for a new group of fish, sorry, I meant sophisticated investors. It will be interesting when the first batch of people decide to cash out, and get a shock on their rate of return.
World Collection
British Collection
German States Collection
<< <i>Why would one do this if they are collectors and not investors? >>
I don't know. Maybe so the person can consider themselves a collector without really knowing anything
about coins?
<< <i>It wouldn't be for me since the hunt is 99% of my coin pleasure, but others might find it useful. >>
Agreed.
<< <i>
<< <i>It wouldn't be for me since the hunt is 99% of my coin pleasure, but others might find it useful. >>
Agreed. >>
Even if you have a good dealer or two searching for specific coins or types of coins, the mandate is "Find me ...."
The purchase plan mandate seems to be spend my money.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
is taking out of the game.
For me, there is at least as much fun in the hunt as in the ownership.
Coins were very cheap compared to today; examples:
R&B unc. 1857 half cent: $85
VF 1799 large cent, perfect date: $1,995
Brilliant Proof Indian Head cents: $44.50
Proof V nickels: $49
BU Bust half dimes: $79.50
Common date proof Seated dimes: $72
BU 1916 Standing Liberty quarter, "the finest": $849
BU 1795 Half dollar: $2,995
BU 1834 Capped Bust half: $89
Common date BU Barber halves: $129
1870, 1871, or 1872 proof Seated dollars: $429
1885 proof $3 gold: $1,795
BU Liberty $10 gold: $45
Proof 1899 $20 Gold, "unsurpassable quality": $2,195
11 piece set of proof trade dollars 1873-1883: $3,995
It was hard to go wrong investing in coins in those days. Today? I wouldn't be so quick to take advantage of Legend's offer.
Jim