Laura's report is up......Everything is Gold, Gold, Gold
Bear
Posts: 18,953 ✭✭✭
Being a contrary sort of a fuzzy bear, I do not like to buy
into a red hot catagory like generic gold. I will stay with my
slow and steady high grade type coins.
into a red hot catagory like generic gold. I will stay with my
slow and steady high grade type coins.
There once was a place called
Camelot
Camelot
0
Comments
Camelot
Just an opinion.
Camelot
lol
Steve
<< <i>It would be nice if they would spend some of their profits on English lessons, and maybe a spell checker for their computer software.
Just an opinion. >>
The more people complain, the more it pleases her - must be a symbiotic relationship.
a person is entitled to make five
grammatical errors.
Camelot
Thanks for the tip. I'll be sure to ignore her so as not to feed the implication of symbiosis.
Knowledge is the enemy of fear
Camelot
<< <i>We sold SEVERAL upper five figure Proof Gold coins (one was a flop) >>
Apparently, not all gold coins are hot. One was a flop.
<< <i>
<< <i>It would be nice if they would spend some of their profits on English lessons, and maybe a spell checker for their computer software.
Just an opinion. >>
The more people complain, the more it pleases her - must be a symbiotic relationship. >>
Kinda like when she, oh never mind...
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
Please, no spell check, Laura!
And that had nothing to do with her spelling or grammar.
<< <i>From the show floor...Laura and Bear exhibit gold fever!!!
HAHHAHAAHhaaaaaa!!!!!!
Oh, THAT HURT.
<< <i>For every million dollars in profit,
a person is entitled to make five
grammatical errors. >>
Let's see now; one million divided by five is?
I guess I should use my spell checker!
JT
I collect all 20th century series except gold including those series that ended there.
Seems 1870-s dollars were not hot either as the one they purchased in the auction fetched $126,500. Not much money even if tooled and cleaned for a low pop coin.
roadrunner
Baltimore on many previous visits.
I get the overall feeling, and I am sure that many disagree that many coins are still due for a fall (call it an "adjustment") and are overvalued. I think that fact that Laura keeps hollering about quality is important and possibly true but also may point to a thinning market......Well I know that last statement may merit some flaming from interested parties, but will stick by it.
Well, just Love coins, period.
I just don't believe it. You will do just fine (if not better!) purchasing rare coins that are not in the top grades.
Two different styles but both with content
albeit Laura's has a bit more of a marketing spin to it
They write them consistantly and I certainly appeciate them.
It would suck without these reports imo................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>I'm with Bear, gold is too high for me to get started in bullion, I'll stick to classic gold where this kind of gold pricing is already priced into them. >>
The problem I have is when it comes time to sell and part with them the bullion is no problem, my classics are a different story.
Fred, Las Vegas, NV
<< <i>The more people complain, the more it pleases her - must be a symbiotic relationship.
Thanks for the tip. I'll be sure to ignore her so as not to feed the implication of symbiosis. >>
<< <i>Being a contrary sort of a fuzzy bear, I do not like to buy
into a red hot catagory like generic gold. I will stay with my
slow and steady high grade type coins. >>
You need to start following the crowd ... look ... up ahead ... there's the cliff ...
I think it's sad some dealers regularly leave shows early. Leaving a show Saturday morning sure doesn't show a lot of concern or respect for those collectors that have a weekday job and can only get to a show on the weekend.
Website-Americana Rare Coin Inc
<< <i>From the show floor...Laura and Bear exhibit gold fever!!!
Which one is Bear?
If gold does crash, so will the coin market.
<< <i>I just don't believe it. You will do just fine (if not better!) purchasing rare coins that are not in the top grades. >>
I don't think Laura has ever stressed buying top-pop's necessarily. Just buy the nicest coins in the grade you are targeting - whether it be MS-66 or XF-45. She has numerously told me in emails to stay away from top-pops since they are often overpriced! Especially in seated dollars a couple years back.
<< <i>
I think it's sad some dealers regularly leave shows early. Leaving a show Saturday morning sure doesn't show a lot of concern or respect for those collectors that have a weekday job and can only get to a show on the weekend. >>
By the way, weren't Barbers considered "hot" on one of the very recent reports. I guess that didn't last very long as now they're back on the cold list??? Maybe I'm just imagining that though?
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
The coin was a rip. When and if the fields are properly re-repaired, it will be worth a lot more.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Thanks for the link to the Legend report - all ways makes four enntertainning reeding.
<< <i>Missed the show and bought underpriced art locally instead.
Thanks for the link to the Legend report - all ways makes four enntertainning reeding. >>
Do you ever use spill chick?
She thinks Indians are slow, maybe because she didn't have anything. I sold, and sold and sold. It was a very hot show. I also bought some neat deals too. I don't think that's her market to make realistic comments on. Lincolns and nickels either. Stick to type, gold and CAC - I agree that dreck is dreck.
Quality can kill you in market just as surely as buying low end coins. The type coin market has taken no prisoners. There are few exceptions. Finding the "right" material means finding a seller willing to sell to you at a low enough level for you to sell it for more. It's as simple as that. I don't care what level of quality in most US coins anyone was buying since 2002-2004, generic $20 gold on the whole has outperformed it as hard to comprehend as that might be. The price of MS/PF 64-68 type coins has fallen back to 2002-2004 levels...it wasn't pretty. I would not be surprised to see slabbed saints up to MS65 outperform the price of gold. Mix in a little inflation down the road a ways and the numismatic side of these coins will slingshot them along with the rest of the RC Market.
roadrunner
<< <i>Seems 1870-s dollars were not hot either as the one they purchased in the auction fetched $126,500. Not much money even if tooled and cleaned for a low pop coin.
The coin was a rip. When and if the fields are properly re-repaired, it will be worth a lot more. >>
Bravo to Legend for keeping this coin out of the coin doctor's hands. Er, what?
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>
<< <i>Seems 1870-s dollars were not hot either as the one they purchased in the auction fetched $126,500. Not much money even if tooled and cleaned for a low pop coin.
The coin was a rip. When and if the fields are properly re-repaired, it will be worth a lot more. >>
Bravo to Legend for keeping this coin out of the coin doctor's hands. Er, what? >>
I HIGHLY doubt Legend will be repairing the coin. And one a coin like this is repairing the bad repairs really that bad? One of the few coins I might actually recommend some work to be done!
<< <i>
<< <i>From the show floor...Laura and Bear exhibit gold fever!!!
Which one is Bear?
It's no wonder I can't be serious around here.
``https://ebay.us/m/KxolR5
<< <i>
<< <i>
<< <i>From the show floor...Laura and Bear exhibit gold fever!!!
Which one is Bear?
It's no wonder I can't be serious around here. >>
Shirley, you can't be serious!
Camelot
Hoard the keys.
Camelot
Website-Americana Rare Coin Inc
There is always demand for nice looking classic proofs like proof Barbers, but mint state Barber coins aren't terribly in vogue right now and haven't been for at least the last few years.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
<< <i>I get a little tired of reading her "THIS IS A TOTAL QUALITY DRIVEN MARKET. " and "The dealers who have adapted to this market are doing very well-especially when they can find the right material. ".
Quality can kill you in market just as surely as buying low end coins. The type coin market has taken no prisoners. There are few exceptions. Finding the "right" material means finding a seller willing to sell to you at a low enough level for you to sell it for more. It's as simple as that. I don't care what level of quality in most US coins anyone was buying since 2002-2004, generic $20 gold on the whole has outperformed it as hard to comprehend as that might be. The price of MS/PF 64-68 type coins has fallen back to 2002-2004 levels...it wasn't pretty. I would not be surprised to see slabbed saints up to MS65 outperform the price of gold. Mix in a little inflation down the road a ways and the numismatic side of these coins will slingshot them along with the rest of the RC Market.
roadrunner >>
Really? Please sell me CAC'd PCGS type at 2002 levels.
Filed Under: Auction News, Commentary and Opinion, Featured, Market Reports & Prices
By Laura Sperber
We can debate everyone’s different market reports. This report is written solely on how the principals of Legend Numismatics witnessed the show to be. We primarily deal in higher grade rarities and gold, so those are the areas we are reporting on. From our point of view, the Baltimore Show was definitely an “on” show.
About a week ago (when dealers like to call each other because of nervous energy about how a show will be) we predicted Baltimore would be great. THE BALTIMORE SHOW WAS GREAT FOR US! And we are not just talking about the usual awesome job Mary Counts and David Chrenshaw and staff do. The overall activity was strong.
Keep in mind that there had not been a true major show (even we don’t count COINFEST as major) in 45 days. That’s a lifetime numismatic drought! Gold has been steadily rising. Collectors are paying attention to coins again. It was a mini perfect storm.
The Stacks sale started off activity prior to the show. It clearly was much stronger than had been anticipated. Can’t say there was a major collection in it, but anything that was fresh and nice sold for strong money.
Dealer to dealer activity in the hotel rooms before set up was crazy. It was like seeing co*ckroaches scatter when the lights turned on only its coin dealers running around to buy gold or get first shot.
We like to say: “if you had gold, you sold”. ALL gold, was selling briskly. The demand reminded us of 1980. MS66 Saints started the show at a WHOLESALE sight-UNSEEN BID of $2,900.00 and when we left Saturday, buyers were paying $3,200.00 and seeking quantities. CAC MS66 Saints are now $3,600.00 WHOLESALE sight-UNSEEN BID! Replacing CAC gold was nearly impossible.
The B+M auction was VERY strong. We bought the 1870S $1 for $126,500.00 [Shown Above] on behalf of a family (we’ll be posting a story about them shortly on our Hot Topics) to cap off a AU/Unc MS seated Dollar Collection. Congrats to them!
At that sale coins were not cheap. We did buy the phenomenal 1876CC 10C PCGS MS67. A coin of that calibre rarely comes around. We firmly believe “sometimes you have to pay more when the coin really matters”. We’re glad the other dealers were too chicken to step up on it. As with the Stacks sale, if a coin was the slightest bit off quality wise or was a retread, it either did not sell or sold VERY cheap. THIS IS A TOTAL QUALITY DRIVEN MARKET.
Our stealth sales team did very well. Most of them even sold five figure coins. One of them sold well into six figures. Interestingly, they had a lot of Type Coins from us and did very well-even prior to the show (when every one who plays dealer wanted to buy gold). One of them did report to us selling Type was difficult and that all he could do was move gold.
One last note about our show, our sales were so strong that up until Saturday afternoon at 3PM, we were still selling. In fact Saturday (of late more of a non selling day), we SOLD $100,000.00 worth of coins WHOLESALE! And we have another $250,000.00 coin (yes single coin) sale pending! A few dealers wanted to see our NEWPS and one just couldn’t get free until Saturday to come over. That shows us how strong the market is. One of the coins we sold was the gorgeous $10 1908 PCGS PR66 CAC. We had a longtime collector customer who knew we had bought it but was thinking about it a day (he never asked to have it put on hold). At 10 AM we sold it. Of course he came by at 11 AM to buy it! Even his wife said the old like “you snooze, you lose”.
We forgot to mention that the bourse floor was exceptionally crowded with people from the time the doors opened to the public until we left at 3 PM Saturday. We were totally wrong in assuming the recent Philadelphia Show would take away collectors from Baltimore (they pretty much are the same area). Guess when the market is hot, people attend shows. We also had seen many collectors who flew in to attend the show. We do thank everyone who came by to visit and say hi!
THE MARKET
Sadly, we did hear several dealers say they had dead shows outside of gold. Well, we looked at what they had. If we had spotted hacked up dreck we wouldn’t be selling coins either. Or, they had loads of retreads at high prices. The dealers who have adapted to this market are doing very well-especially when they can find the right material.
Its interesting that Type is last on the active list pretty much. Few souls are stepping up to buy the higher graded coins, yet they probably can’t find much to choose from. The supply of properly graded rare coins is remarkably low to non-existent.
Unless gold crashes, the coin market is definitely coming back to life. Its amazing how only a month ago, the biggest dealers in gold (like Heritage) really did not want to buy generics because there was a glut of them. Look at them now, at Baltimore, firms like Heritage had all their agents running around trying to buy as much gold as possible! It is our understanding they are selling MILLIONS of dollars worth of generics a day right now.
Speculators and investors are not back in the market again. Prices are slowly rising for the Type and even Morgans (Peace Dollars too), but again the supplies are non existent for the better material.
If gold were to crash (which many feel is unlikely due to incredible momentum), it would take the market about 1-2 weeks to feel it. Dealers still have back orders to deliver. And it is possible a drop in gold could actually spur on more buying.
We do suggest you buy with caution. Gold coins are at all time record highs. Never put all your eggs in one basket and never think it can’t just end!
The next shows are in Detroit on Thanksgiving and then there is one in Houston around December 3rd (where they are having a PNG Day for some ungodly reason). Neither are considered major, but if gold stays sold to strong, these will be like a stream turning into a flooding river during a storm. Most major dealers are not planning on doing these shows so they will be waiting the FUN Show in January with extreme pent up demand.
DISPLAYS-LIBERTY SEATED CLUB
How could we write a Market Report without commenting on the amazing displays the show offered. Tucked away in the back of the room was the Liberty Seated Clubs table. It had 3 amazing collections. Anytime you hear of collections like that being displayed, you should take advantage and go see them. The owners of the collections and members of the club were on hand to answer questions and offer education about the coins or the series.
It was impressive to see collections that clearly were a result of intense passion and love of the hobby. These sets weren’t just plastic, they were coins that had been carefully selected over many years. Not all coins were the finest graded, but these collectors did not care. Every coin in those cases was outstanding! With collectors like these it really was about the coin.
Always take advantage of displays like that and go see them!
WHATS HOT
GOLD! Need we repeat that? GOLD, GOLD, GOLD! Especially any MS65 and higher GOLD UNDER $5,000.00. And surprisingly we sold SEVERAL rarer PR Gold pieces valued $50,000.00-$85,000.00 quite easily. Morgans. A huge deal (dollar value) broke at the show. The people before us spent $600,000.00 on it and we spent a few hundred thousand. We would guess the deal is now all gone. Peace Dollars are hot too. MS 65 and higher Walkers. We had more requests than usual for Early GEMS.
WHATS NOT HOT?
Dreck just keeps falling and falling out of favor. Anything but cheap Indians and Lincoln cents. ALL Nickels are slow. MS and PR Seated and Barber Type.